Search results for: multifactor asset pricing

Authors: Sonali Agarwal

Abstract:

The investor perception about investment avenues is affected to a great degree by the current happenings, within the country, and on the global stage. The influencing events can range from government policies, bilateral trade agreements, election agendas, to changing exchange rates, appreciation and depreciation of currency, recessions, meltdowns, bankruptcies etc. The current research attempts to discover and unravel the effect of various macroeconomic variables (crude oil price, gold price, silver price and USD exchange rate) on the Indian mutual fund industry in general and the chosen funds (Axis Gold Fund, BSL Gold Fund, Kotak Gold Fund & SBI gold fund) in particular. Cointegration tests and Vector error correction equations prove that the chosen variables have strong effect on the NAVs (net asset values) of the mutual funds. However, the greatest influence is felt from the fund’s own past and current information and it is found that when an innovation of fund’s own lagged NAVs is given, variance caused is high that changes the current NAVs markedly. The study helps to highlight the interplay of macroeconomic variables and their repercussion on mutual fund industry.

Keywords: cointegration, Granger causality, impulse response, macroeconomic variables, mutual funds, stationarity, unit root test, variance decomposition, VECM

Procedia PDF Downloads 218

Authors: Md. Mahadi Hasan Sany, Mumenunnessa Keya, Sharun Khushbu, Sheikh Abujar

Abstract:

Since the beginning of China's economic reform, trade between the U.S. and China has grown rapidly, and has increased since China's accession to the World Trade Organization in 2001. The US imports more than it exports from China, reducing the trade war between China and the U.S. for the 2019 trade deficit, but in 2020, the opposite happens. In international and U.S. trade, Washington launched a full-scale trade war against China in March 2016, which occurred a catastrophic epidemic. The main goal of our study is to measure and predict trade relations between China and the U.S., before and after the arrival of the COVID epidemic. The ML model uses different data as input but has no time dimension that is present in the time series models and is only able to predict the future from previously observed data. The LSTM (a well-known Recurrent Neural Network) model is applied as the best time series model for trading forecasting. We have been able to create a sustainable forecasting system in trade between China and the US by closely monitoring a dataset published by the State Website NZ Tatauranga Aotearoa from January 1, 2015, to April 30, 2021. Throughout the survey, we provided a 180-day forecast that outlined what would happen to trade between China and the US during COVID-19. In addition, we have illustrated that the LSTM model provides outstanding outcome in time series data analysis rather than RFR and SVR (e.g., both ML models). The study looks at how the current Covid outbreak affects China-US trade. As a comparative study, RMSE transmission rate is calculated for LSTM, RFR and SVR. From our time series analysis, it can be said that the LSTM model has given very favorable thoughts in terms of China-US trade on the future export situation.

Keywords: RFR, China-U.S. trade war, SVR, LSTM, deep learning, Covid-19, export value, forecasting, time series analysis

Procedia PDF Downloads 163

Authors: Jayanta Pokharel, Gokarna Aryal, Netra Kanaal, Chris Tsokos

Abstract:

Investment in stocks and shares aims to seek potential gains while weighing the risk of future needs, such as retirement, children's education etc. Analysis of the behavior of the stock market returns and making prediction is important for investors to mitigate risk on investment. Historically, the normal variance models have been used to describe the behavior of stock market returns. However, the returns of the financial assets are actually skewed with higher kurtosis, heavier tails, and a higher center than the normal distribution. The Laplace distribution and its family are natural candidates for modeling stock returns. The Variance-Gamma (VG) distribution is the most sought-after distributions for modeling asset returns and has been extensively discussed in financial literatures. In this paper, it explore the other Laplace family, such as Asymmetric Laplace, Skewed Laplace, Kumaraswamy Laplace (KS) together with Variance-Gamma to model the weekly returns of the S&P 500 Index and it's eleven business sector indices. The method of maximum likelihood is employed to estimate the parameters of the distributions and our empirical inquiry shows that the Kumaraswamy Laplace distribution performs much better for stock returns modeling among the choice of distributions used in this study and in practice, KS can be used as a strong alternative to VG distribution.

Keywords: stock returns, variance-gamma, kumaraswamy laplace, maximum likelihood

Procedia PDF Downloads 45

Authors: Kishor K. Podh

Abstract:

Agriculture in India treated as the backbone of its economy. It has been accommodated to more than 60 percent of its population as their economic base, directly or indirectly for their livelihood. Besides its significant role, the sharp declines in public investment and development in agriculture have witnessed. After independence Hirakud Command Area (HCA) popularly known as the Rice Bowl of State, due to its fabulous production and provides food to a larger part of the state. After the great green revolution and then liberalization agrarian families become overburden with the loan. They started working as wage laborer in other’s field and non-farm sectors to overcome from the uninvited indebtedness. Although production increases at present, still the youths of this area migrating outsides for job Tamil Nadu, Andhra Pradesh, Maharashtra, Gujarat, etc. Because agriculture no longer remains a profitable occupation; increasing input costs, the uncertainty of crops, improper pricing, poor marketing, etc. compels the youths to choose the alternative occupations. They work in industries (under contractors), construction workers and other menial jobs due to lack of skills and degrees. Kharmunda a village within HCA selected as per the convenience and 100 youth migrants were interviewed purposively selected who were present during data collection. The study analyses the types of migration; its similarity/differentiations, its determining factors, in tow geographical areas of Western Odisha, i.e., single crop and double crops in relation to agricultural situations.

Keywords: agrarian distress, double crops, Hirakud Command Area, indebtedness, out migration, Western Odisha

Procedia PDF Downloads 308

Authors: Neeraj Gupta, Jitendra Mahakud

Abstract:

The banking system plays a major role in the Indian economy. Banking system is the payment gateway of most of the financial transactions. Banking has gone a major transition that is still in progress. Recent banking reforms after liberalization in 1991 have led to the establishment of the foreign banks in the country. The foreign banks are not listed in the Indian stock markets and have increased the competition leading to the capture of the significant share in the revenue from the public sector banks which are still the major players in the Indian banking sector. The performance of the banking sector depends on the internal (bank specific) as well as the external (market specific and macroeconomic) factors. Profitability in banking sector is affected by numerous factors which can be internal or external. The present study examines these internal and external factors which are likely to effect the profitablilty of the Indian banks. The sample consists of a panel dataset of 64 commercial banks in India, consisting of 1088 observations over the years from 1998 to 2016. The GMM dynamic panel estimation given by Arellano and Bond has been used. The study revealed that the variables capital adequacy ratio, deposit, age, labour productivity, non-performing asset, inflation and concentration have significant effect on performance measured.

Keywords: banks in India, bank performance, bank productivity, banking management

Procedia PDF Downloads 244

Authors: P. K. Sarkar, Amit Kumar Jain

Abstract:

The demand for Urban transportation is characterised by a large scale temporal and spatial variations which causes heavy congestion inside metro trains in peak hours near Centre Business District (CBD) of the city. The conventional approach to address peak hour congestion, metro trains has been to increase the supply by way of introduction of more trains, increasing the length of the trains, optimising the time table to increase the capacity of the system. However, there is a limitation of supply side measures determined by the design capacity of the systems beyond which any addition in the capacity requires huge capital investments. The demand side interventions are essentially required to actually spread the demand across the time and space. In this study, an attempt has been made to identify the potential Transport Demand Management tools applicable to Urban Rail Transportation systems with a special focus on differential pricing. A conceptual price elasticity model has been developed to analyse the effect of various combinations of peak and nonpeak hoursfares on demands. The elasticity values for peak hour, nonpeak hour and cross elasticity have been assumed from the relevant literature available in the field. The conceptual price elasticity model so developed is based on assumptions which need to be validated with actual values of elasticities for different segments of passengers. Once validated, the model can be used to determine the peak and nonpeak hour fares with an objective to increase overall ridership, revenue, demand levelling and optimal utilisation of assets.

Keywords: urban transport, differential fares, congestion, transport demand management, elasticity

Procedia PDF Downloads 283

Authors: Rashmi Malik, Videep Mishra

Abstract:

The practice of generative design has become a transformative approach for an efficient way of generating multiple iterations for any design project. The conventional way of modeling the game elements is very time-consuming and requires skilled artists to design. A 3D modeling tool like 3D S Max, Blender, etc., is used traditionally to create the game library, which will take its stipulated time to model. The study is focused on using the generative design tool to increase the efficiency in game development at the stage of prop and environment generation. This will involve procedural level and customized regulated or randomized assets generation. The paper will present the system design approach using generative tools like Grasshopper (visual scripting) and other scripting tools to automate the process of game library modeling. The script will enable the generation of multiple products from the single script, thus creating a system that lets designers /artists customize props and environments. The main goal is to measure the efficacy of the automated system generated to create a wide variety of game elements, further reducing the need for manual content creation and integrating it into the workflow of AAA and Indie Games.

Keywords: iterative game design, generative design, gaming asset automation, generative game design

Procedia PDF Downloads 42

Authors: Roien Qiam, Shoshi Mizokami

Abstract:

Parking demand in the Central Business District (CBD) has enlarged with the increase of the number of private vehicles due to rapid economic growth, lack of an efficient public transport and traffic management system. This has resulted in low mobility, poor accessibility, serious congestion, high rates of traffic accident fatalities and injuries and air pollution, mainly because people have to drive slowly around to find a vacant spot. With parking pricing and enforcement policy, considerable advancement could be found, and on-street parking spaces could be managed efficiently and effectively. To evaluate parking demand and making parking policy, it is required to understand the current parking condition and driver’s behavior, understand how drivers choose their parking type and location as well as their behavior toward finding a vacant parking spot under parking charges and search times. This study illustrates the result from an observational, revealed and stated preference surveys and experiment. Attained data shows that there is a gap between supply and demand in parking and it has maximized. For the modeling of the parking decision, a choice model was constructed based on discrete choice modeling theory and multinomial logit model estimated by using SP survey data; the model represents the choice of an alternative among different alternatives which are priced on-street, off-street, and illegal parking. Individuals choose a parking type based on their preference concerning parking charges, searching times, access times and waiting times. The parking assignment model was obtained directly from behavioral model and is used in parking simulation. The study concludes with an evaluation of parking policy.

Keywords: CBD, parking demand forecast, parking policy, parking choice model

Procedia PDF Downloads 169

Authors: Badr Alharbi

Abstract:

There is significant debate on the evolution of retail marketing as an economy matures. In penetrating new markets, global brands are efficient in establishing a presence and replacing less effective competitors by engaging in superior advertising, pricing and sometimes quality. However, national brands adapt over time and may either partner with global brands in distribution and services or directly compete more efficiently in the new, open market. This explorative study investigates brand preferences in Saudi Arabia. As a conservative society, which is nevertheless highly commercialised, Saudi Arabia markets could be fragmenting with consumer preferences and rejections based on country of origin, globalisation, or perhaps regionalisation. To investigate this, an online survey was distributed to Saudis in Jeddah to gather data on their preferences for travel, technology, clothes and accessories, eating out, vehicles, and influential brands. The results from 710 valid responses were that there are distinct regional and national brand preferences among the young Saudi men who contributed to the survey. Apart from a preference for Saudi food providers, airline preferences were the United Emirates, holiday preferences were Europe, study and work preferences were the United States, hotel preferences were United States-based, car preferences were Japanese, and clothing preferences were United States-based. The results were broadly in line with international research findings; however, the study participants varied from Arab research findings by describing themselves as innovative in their purchase selections, rarely loyal (exception of Apple products) and continually seeking new brand experiences. This survey contributes to an understanding of evolving Saudi consumer preferences.

Keywords: Saudi marketing, globalisation, country of origin, brand preferences

Procedia PDF Downloads 240

Authors: Zelalem Zerihun

Abstract:

In this study, attempts were made to assess the bank-specific, industry-specific, and macro-economic factors affecting bank profitability. Data were collected from ten commercial banks in Ethiopia, covering the period of 2008-2012. A mixed method research approach was adopted for this research. Documentary analysis and in-depth interview were also used to substantiate the data. The study found out that capital strength, income diversification, bank size and gross domestic product are statistically significant and they have a positive relationship with banks’ profitability. However, operational efficiency and asset quality have a negative relationship with banks’ profitability. The relationship for liquidity risk, concentration and inflation were found to be statistically insignificant. The study revealed that focusing and reengineering the banks in light of the key internal drivers could enhance the profitability as well as the performance of the commercial banks in Ethiopia. In addition to this, the study suggests that banks in Ethiopia should not only be concerned about internal structures but also they must consider both the internal environment and the macro-economic environment in designing strategies to improve their profit or their performance.

Keywords: Ethiopian banking industry, macro-economic factors, documentary analysis, capital strength, income diversification

Procedia PDF Downloads 314

Authors: Naheed Malik, Waheed Akhtar

Abstract:

An introduction to the Islamic move towards the managing human resource is a preliminary attempt to provide managers with a useful way of managing and accepting employees. This knowledge would be helpful to even non-Muslim managers. Muslim managers are required not to know only the Islamic HR but also it is expected from them to apply the Islamic approach in managing the employees. Human resource is considered the most substantial asset of organizations. Studies have recommended that successful human resource management (HRM) leads to positive attitudes and behaviors at the workplace. On the contrary, unproductive use of human resources results in negative penalty in the form of lower job satisfaction, lower commitment, or even high employee turnover and even poor workforce quality.The study examined the Impact of Islamic HR practices on job satisfaction. Islamic HR variables encompass the aspects of performance appraisal, training and development, selection and recruitment. Data was obtained via self –administered questionnaires distributed among the employees of Banks in Pakistan which are practicing Islamic Banking. The sampling method employed was purposive sampling.Based on 240 responses obtained ,the study revealed that Islamic HRM deliberates the 40per cent of the variances in Job satisfaction .All variables excluding recruitment were found to be substantially pertinent to the dependent variable. The study also meditated the implications for future studies.

Keywords: islamic HRM, job satisfaction, islamic and conventional banks, Pakistan

Procedia PDF Downloads 268

Authors: Amleset Haile

Abstract:

Non-timber forest products (NTFPs) are harvested for both subsistence and commercial use and play a key role in the livelihoods of millions of rural people. Non-timber forest products (NTFPs) are important in rural southwest Ethiopia, Kaffa as a source of household income. market players at various levels in marketing chains are interviewed to getther information on elements of marketing system–products, product differentiation, value addition, pricing, promotion, distribution, and marketing chains. The study, therefore, was conducted in Kaffa Biosphere reserve of southwest Ethiopia with the main objective of assessing and analyzing the contribution of NTFPs to rural livelihood and to the conservation of the biosphere reserve and to identify factors influencing in the marketing of the NTFP. Five villages were selected based on their proximity gradient from Bonga town and availability of NTFP. Formal survey was carried out on rural households selected using stratified random sampling. The results indicate that Local people practice diverse livelihood activities mainly crops cultivation (cereals and cash crops) and livestock husbandry, gather forest products and off-farm/off-forest activities for surviva. NTFP trade is not a common phenomenon in southwest Ethiopia. The greatest opportunity exists for local level marketing of spices and other non timber forest products. Very little local value addition takes place within the region,and as a result local market players have little control. Policy interventions arc required to enhance the returns to local collectors, which will also contribute to sustainable management of forest resources in Kaffa biosphere reserve.

Keywords: forest management, biosphere reserve, marketing, local people

Procedia PDF Downloads 495

Authors: Agata Twardoch

Abstract:

The processes of commodification of real estate and changes in housing markets have led to a situation where the prices of free market housing in European capitals are significantly higher than the purchasing value of average wages. This phenomenon has many negative social and spatial consequences. At the same time, the attractiveness of real estate as an asset makes these processes progress. Out of concern for sustainable social development, city authorities apply solutions to balance the burdensome effects of codification of housing. One of them is a social provision for housing investments. The article presents a comparative study of solutions applied in selected European capitals, on the example of Warsaw, Paris, London, Berlin, Copenhagen, and Vienna. The study was conducted along with works on expert report for the master plan for Warsaw. The forms of commissions applied in Local Planning Acts were compared, with particular reference to spatial solutions. The results of the analysis made it possible to determine common features of the solutions applied and to establish recommendations for further practice. Major findings of the study indicate that requirement of social provision is achievable in spatial planning documents. Study shows that application of social provision in private housing investments is a useful tool in housing policy against commodification.

Keywords: affordable housing, housing provision, spatial planning, sustainable social development

Procedia PDF Downloads 140

Authors: Khalid Kaddoura, Ahmed Assad, Tarek Zayed

Abstract:

Sewer pipelines are prone to deterioration over-time. In fact, their deterioration does not follow a fixed downward pattern. This is in fact due to the defects that propagate through their service life. Sewer pipeline defects are categorized into distinct groups. However, the main two groups are the structural and operational defects. By definition, the structural defects influence the structural integrity of the sewer pipelines such as deformation, cracks, fractures, holes, etc. However, the operational defects are the ones that affect the flow of the sewer medium in the pipelines such as: roots, debris, attached deposits, infiltration, etc. Yet, the process for each defect to emerge follows a cause and effect relationship. Deformation, which is the change of the sewer pipeline geometry, is one type of an influencing defect that could be found in many sewer pipelines due to many surrounding factors. This defect could lead to collapse if the percentage exceeds 15%. Therefore, it is essential to predict the deformation percentage before confronting such a situation. Accordingly, this study will predict the percentage of the deformation defect in sewer pipelines adopting the multiple regression analysis. Several factors will be considered in establishing the model, which are expected to influence the defamation defect severity. Besides, this study will construct a time-based curve to understand how the defect would evolve overtime. Thus, this study is expected to be an asset for decision-makers as it will provide informative conclusions about the deformation defect severity. As a result, inspections will be minimized and so the budgets.

Keywords: deformation, prediction, regression analysis, sewer pipelines

Procedia PDF Downloads 158

Authors: Mrinmoy Dhara, Vivek K. Sengar, Shovan L. Chattoraj, Soumiya Bhattacharjee

Abstract:

Remote sensing techniques have emerged as an asset for various geological studies. Satellite images obtained by different sensors contain plenty of information related to the terrain. Digital image processing further helps in customized ways for the prospecting of minerals. In this study, an attempt has been made to map the hydrothermally altered zones using multispectral and hyperspectral datasets of South East Rajasthan. Advanced Space-borne Thermal Emission and Reflection Radiometer (ASTER) and Hyperion (Level1R) dataset have been processed to generate different Band Ratio Composites (BRCs). For this study, ASTER derived BRCs were generated to delineate the alteration zones, gossans, abundant clays and host rocks. ASTER and Hyperion images were further processed to extract mineral end members and classified mineral maps have been produced using Spectral Angle Mapper (SAM) method. Results were validated with the geological map of the area which shows positive agreement with the image processing outputs. Thus, this study concludes that the band ratios and image processing in combination play significant role in demarcation of alteration zones which may provide pathfinders for mineral prospecting studies.

Keywords: ASTER, hyperion, band ratios, alteration zones, SAM

Procedia PDF Downloads 255

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 416

Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

Abstract:

Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in decision process and –many times- the investment and business risks are high. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analyzed. Adopting the on system of system methodological approach, the decision making framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey and Bulgaria.

Keywords: decision making, system of system, cross-border, infrastructure project

Procedia PDF Downloads 284

Authors: M. Vieira, V. Infante, P. Serrão, A. Ribeiro

Abstract:

The Portuguese guitar is a pear-shaped plucked chordophone particularly known for its role in Fado, the most distinctive traditional Portuguese musical style. The acknowledgment of the dynamic behavior of the Portuguese guitar, specifically of its modal and mode shape response, has been the focus of different authors. In this research, the experimental results of the dynamic behavior of the guitar, which were previously obtained, are correlated with a vibro-acoustic finite element model of the guitar. The modelling of the guitar offered several challenges which are presented in this work. The results of the correlation between experimental and numerical data are presented and indicate good correspondence for the studied mode shapes. The influence of the air inside the chamber, for the finite element analysis, is shown to be crucial to understand the low-frequency modes of the Portuguese guitar, while, for higher frequency modes, the geometry of the guitar assumes greater relevance. Comparison is made with the classical guitar, providing relevant information about the intrinsic differences between the two, such as between its tones and other acoustical properties. These results represent a sustained base for future work, which will allow the study of the influence of different location and geometry of diverse components of the Portuguese guitar, being as well an asset to the comprehension of its musical properties and qualities and may, furthermore, represent an advantage for its players and luthiers.

Keywords: dynamic behavior of guitars, instrument acoustics, modal analysis, Portuguese guitar

Procedia PDF Downloads 377

Authors: Lie-Fen Lin, Tzu-Hsuan Lin, Ching-Heng Lin

Abstract:

Hospice care for terminally ill patients provides not only a better quality of life but also cost-saving benefits. However, the utilization of home-based hospice care (HBH care) remains low even for countries covered by National Health Insurance (NHI) programs in Taiwan. In the current commercial insurance policy, only hospital-based hospice benefits were covered. It may have an influence on the insureds chosen to receive end-of-life care in a hospitalized manner. Thus, how to propose a feasible method to advocate HBH care utilization rate of public health policies is an important issue. A total of 130,219 cancer decedents in the year 2011-2013 from the National Health Insurance Research Database (NHIRD) in Taiwan were included in this study. By adding a day volume pays benefits of HBH care as a commercial insurance rider, will provide alternative benefits for the insureds. A multiple-state Markov chain model was incorporated to estimate the transition intensities of patients in different states at the end of their lives (Non-hospice, HBH, hospital-based hospice), and the premiums were estimated. HBH care insurance benefits provide financial support and reduce the burden of care for patients. The rate-making of this product is very sensitive while the utilization rate is rising, especially for high ages. The proposed HBH care insurance is a feasible way to reduce the financial burden, enhance the care quality and family satisfaction of insureds. Meanwhile, insurance companies can participate in advocating a good medical policy to enhance the social image. In addition, the medical costs of NHI can reduce effectively.

Keywords: home-based hospice care, commercial insurance, Markov chain model, the day volume pays

Procedia PDF Downloads 190

Authors: Nousheen Hashmi, Shoab Ahmad Khan

Abstract:

Active collaboration among the green energy sources and the load demand leads to serious issues related to power quality and stability. The growing number of green energy resources and Distributed-Generators need newer strategies to be incorporated for their operations to keep the power energy stability among green energy resources and micro-grid/Utility Grid. This paper presents a novel technique for energy power management in Grid-Connected Photovoltaic with energy storage system under set of constraints including weather conditions, Load Shedding Hours, Peak pricing Hours by using rule-based fuzzy smart grid controller to schedule power coming from multiple Power sources (photovoltaic, grid, battery) under the above set of constraints. The technique fuzzifies all the inputs and establishes fuzzify rule set from fuzzy outputs before defuzzification. Simulations are run for 24 hours period and rule base power scheduler is developed. The proposed fuzzy controller control strategy is able to sense the continuous fluctuations in Photovoltaic power generation, Load Demands, Grid (load Shedding patterns) and Battery State of Charge in order to make correct and quick decisions.The suggested Fuzzy Rule-based scheduler can operate well with vague inputs thus doesn’t not require any exact numerical model and can handle nonlinearity. This technique provides a framework for the extension to handle multiple special cases for optimized working of the system.

Keywords: photovoltaic, power, fuzzy logic, distributed generators, state of charge, load shedding, membership functions

Procedia PDF Downloads 456

Authors: Carmen Avilés Palacios, Camilo Muñoz Arenas, Joaquín García Alfonso, Jesús González Arteaga, Alberto Alcalde Calonge

Abstract:

There is a need for review of the consumption and production models of industrialized states in accordance with the Paris Agreement and the Sustainable Development Goals (1) (OECD, 2016). This constitutes the basis of the bioeconomy (2) that is focused on striking a balance between economic development, social development and environmental protection. Bioeconomy promotes the adequate use and consumption of renewable natural resources (3) and involves developing new products and services adapted to the principles of circular economy: more sustainable (reusable, biodegradable, renewable and recyclable) and with a lower carbon footprint (4). In this context, Urban Forest Innovation Lab (UFIL) grows, an Urban Laboratory for experimentation focused on promoting entrepreneurship in forest bioeconomy (www.uiacuenca.es). UFIL generates local wellness taking sustainable advantage of an endogenous asset, forests. UFIL boosts forest bioeconomy opening its doors of knowledge to pioneers in this field, giving the opportunity to be an active part of a change in the way of understanding the exploitation of natural resources, discovering business, learning strategies and techniques and incubating business ideas So far now, 100 entrepreneurs are incubating their nearly 30 new business plans. UFIL has promoted an ecosystem to connect the rural-urban world that promotes sustainable rural development around the forest.

Keywords: bioeconomy, forestry, innovation, entrepreneurship

Procedia PDF Downloads 85

Authors: Hebberly Ahatlan

Abstract:

The process of digitizing energy systems involves transforming traditional energy infrastructure into interconnected, data-driven systems that enhance efficiency, sustainability, and responsiveness. As smart grids become increasingly integral to the efficient distribution and management of electricity from both fossil and renewable energy sources, the energy industry faces strategic challenges associated with digitalization and interoperability — particularly in the context of modern energy business models, such as virtual power plants (VPPs). The critical challenge in modern smart grids is to seamlessly integrate diverse technologies and systems, including virtualization, grid computing and service-oriented architecture (SOA), across the entire energy ecosystem. Achieving this requires addressing issues like semantic interoperability, IT/OT convergence, and digital asset scalability, all while ensuring security and risk management. This paper proposes a four-layer digitalization framework to tackle these challenges, encompassing persistent data protection, trusted key management, secure messaging, and authentication of IoT resources. Data assets generated through this framework enable AI systems to derive insights for improving smart grid operations, security, and revenue generation. Furthermore, this paper also proposes a Trusted Energy Interoperability Alliance as a universal guiding standard in the development of this digitalization framework to support more dynamic and interoperable energy markets.

Keywords: digitalization, IT/OT convergence, semantic interoperability, VPP, energy blockchain

Procedia PDF Downloads 137

Authors: Adel A. Ghoneim

Abstract:

Air conditioning devices are substantially utilized in the summer months, as a result maximum loads in Kuwait take place in these intervals. Peak energy consumption are usually more expensive to satisfy compared to other standard power sources. The primary objective of the current work is to enhance the performance of high concentrated photovoltaic (HCPV) systems in an attempt to minimize peak power usage in Kuwait using HCPV modules. High concentrated PV multi-junction solar cells provide a promising method towards accomplishing lowest pricing per kilowatt-hour. Nevertheless, these cells have various features that should be resolved to be feasible for extensive power production. A single diode equivalent circuit model is formulated to analyze multi-junction solar cells efficiency in Kuwait weather circumstances taking into account the effects of both the temperature and the concentration ratio. The diode shunt resistance that is commonly ignored in the established models is considered in the present numerical model. The current model results are successfully validated versus measurements from published data to within 1.8% accuracy. Present calculations reveal that the single diode model considering the shunt resistance provides accurate and dependable results. The electrical efficiency (η) is observed to increase with concentration to a specific concentration level after which it reduces. Implementing grid systems is noticed to increase with concentration to a certain concentration degree after which it decreases. Employing grid connected HCPV systems results in significant peak load reduction.

Keywords: grid connected, high concentrated photovoltaic systems, peak load, solar cells

Procedia PDF Downloads 134

Authors: Muhammad Ghaffar Doggar, Farah

Abstract:

The primary objective of this feasibility study is to conduct a techno-financial assessment for installation of biomass based power plant in Faisalabad division. The study involves identification of best site for power plant followed by an assessment of biomass resource potential in the area and propose power plant of suitable size. The study also entailed comprehensive supply chain analysis to determine biomass fuel pricing, transportation and storage. Further technical and financial analyses have been done for selection of appropriate technology for the power plant and its financial viability, respectively. The assessment of biomass resources and the subsequent technical analysis revealed that 20 MW biomass power plant could be implemented at one of the locations near Faisalabad city i.e. AARI Site, Near Chak Jhumra district Faisalabad, Punjab province. Three options for steam pressure; namely, 70 bar, 90 bar and 100 bar boilers have been considered. Using international experience and prices on power plant technology and local prices on locally available equipment, the study concludes biomass fuel price of around 50 US dollars (USD) per ton when delivered to power plant site. The electricity prices used for feasibility calculations were 0.13 USD per KWh for electricity from a locally financed project and 0.11 USD per KWh for internationally financed power plant. For local financing the most viable choice is the 70 bar solution and with international financing, the most feasible solution is using a 90 bar boiler. Between the two options, the internationally financed 90 bar boiler setup gives better financial results than the locally financed 70 bar boiler project. It has been concluded that 20 MW with 90 bar power plant and internationally financed would have an equity IRR of 23% and a payback period of 7 years. This will be a cheap option for installation of power plants.

Keywords: AARI, Ayub agriculture research institute, biomass - crops residue, KWh - electricity Units, MG - Muhammad Ghaffar

Procedia PDF Downloads 318

Authors: Evridiki Papachristou, Nikolaos Bilalis

Abstract:

Imagine an apparel industry where fashion design does not begin with a paper-and-pen drawing which is then translated into pattern and later to a 3D model where the designer tries out different fabrics, colours and contrasts. Instead, imagine a fashion designer in the future who produces that initial fashion drawing in a three-dimensional space and won’t leave that environment until the product is done, communicating his/her ideas with the entire development team in true to life 3D. Three-dimensional (3D) technology - while well established in many other industrial sectors like automotive, aerospace, architecture and industrial design, has only just started to open up a whole range of new opportunities for apparel designers. The paper will discuss the process of 3D simulation technology enhanced by high quality visualization of data and its capability to ensure a massive competitiveness in the market. Secondly, it will underline the most frequent problems & challenges that occur in the process chain when various partners in the production of textiles and apparel are working together. Finally, it will offer a perspective of how the Virtual Prototyping Technology will make the global textile and apparel industry change to a level where designs will be visualized on a computer and various scenarios modeled without even having to produce a physical prototype. This state-of-the-art 3D technology has been described as transformative and“disruptive”comparing to the process of the way apparel companies develop their fashion products today. It provides the benefit of virtual sampling not only for quick testing of design ideas, but also reducing process steps and having more visibility.A so called“digital asset” that can be used for other purposes such as merchandising or marketing.

Keywords: 3D visualization, apparel, virtual prototyping, prototyping technology

Procedia PDF Downloads 550

Authors: Rahmi Yetri Kasri, Paulus Wirutomo

Abstract:

Citizen engagement approach has become increasingly important in the rural water sector. However, the question remains as to what exactly is meant by citizen engagement and how this approach can lead to sustainable service delivery. To understand citizen engagement, this paper argues that we need to understand basic elements of social life that consist of social structure, process, and culture within the realm of community’s living environment. Extracting from empirical data from Pamsimas villages in rural West Java, Indonesia, this paper will identify basic elements of social life and environment that influence and form the engagement of citizen and government in delivering and sustaining rural water supply services in Indonesia. Pamsimas or the Water Supply and Sanitation for Low Income Communities project is the biggest rural water program in Indonesia, implemented since 1993 in more than 27,000 villages. The sustainability of this sector is explored through a rural water supply service delivery life-cycle, starts with capital investment, operational and maintenance, asset expansion or renewal, strategic planning for future services and matching cost with financing. Using mixed-method data collection in case study research, this paper argues that increased citizen engagement contributes to a more sustainable rural water service delivery.

Keywords: citizen engagement, rural water supply, sustainability, Indonesia

Procedia PDF Downloads 242

Authors: Diana Bardhi

Abstract:

Road safety is an essential part of the economic and social development of any industrialized country. Decisions to maintain and improve the reliability, functionality of infrastructure structures can only be achieved through integrated road life cycle planning and management. There has always been a tendency to review road maintenance strategies, but there is still no serious and reliable administration due to not only insufficient funds but also problems in the proper reorganization of this system. The safety and performance of the road system depend on the ongoing activity of road maintenance management. For it to be effective, it is necessary to intervene before the degradation has caused irreparable damage or damage with a high economic cost of repairs. Investments in road infrastructure during 2006-2014 show that the life of these projects presents problems related to the maintenance and management of life cycle performance in a wide range of constituent elements. Maintenance planning includes various problems that depend on the degree of degradation of asphalt layers, the degree of damage to road structures (bridges, tunnels, culverts, and the economic planning of resources for their repair). The purpose of this study is first to provide a brief overview of the problems in the field of maintenance and life cycle management of road infrastructure investments, proposing ways to reorganize the sector of administration and maintenance of ongoing roads and secondly testing and evaluating the work and nature of standards of different types of road infrastructure projects, through a methodology consisting of a) development, b) data collection, and c) analysis.

Keywords: infrastructure, maintenance, depreciation, efficiency

Procedia PDF Downloads 129

Authors: Simon Arunga, Teddy Kwaga, Rita Kageni, Michael Gichangi, Nyawira Mwangi, Fred Kagwa, Rogers Mwavu, Amos Baryashaba, Luis F. Nakayama, Katharine Morley, Michael Morley, Leo A. Celi, Jessica Haberer, Celestino Obua

Abstract:

Purpose: The main aim for creating the Multimodal Database of Retinal Images for Africa (MoDRIA) was to provide a publicly available repository of retinal images for responsible researchers to conduct algorithm development in a bid to curb the challenges of ophthalmic artificial intelligence (AI) in Africa. Methods: Data and retina images were ethically sourced from sites in Uganda and Kenya. Data on medical history, visual acuity, ocular examination, blood pressure, and blood sugar were collected. Retina images were captured using fundus cameras (Foru3-nethra and Canon CR-Mark-1). Images were stored on a secure online database. Results: The database consists of 7,859 retinal images in portable network graphics format from 1,988 participants. Images from patients with human immunodeficiency virus were 18.9%, 18.2% of images were from hypertensive patients, 12.8% from diabetic patients, and the rest from normal’ participants. Conclusion: Publicly available data repositories are a valuable asset in the development of AI technology. Therefore, is a need for the expansion of MoDRIA so as to provide larger datasets that are more representative of Sub-Saharan data.

Keywords: retina images, MoDRIA, image repository, African database

Procedia PDF Downloads 88

Authors: Ahmad Dahlan Salleh, Nik Abdul Rahim Nik Abdul Ghani, Muhamad Firdaus M. Hatta

Abstract:

Risk management has implications on pricing, governance arrangements, business practices and strategy. Nowadays, home financing contract offers more in the risk transfer form to increase bank profit. This is parallel with Islamic jurisprudence method al-Kharaj bi al-thaman (gain accompanies liability for loss) and al-ghurm bil ghunm (gain is justified with risk) that determine the matching between risk transfer and returns. Malaysian financing trend is to buy house. Besides, exists transparency lacking risk transfer issues to the clients because of not been informed clearly. Terms and conditions of each financing also do not reflect clearly that the risk has been transferred to the client, justifying a determination price been made. The assumption on risk occurrence is also inaccurate as each risk is different with the type of financing contract. This makes the Islamic Financial Services Act 2013 in providing standards that transparent and consistent can be used by Islamic financial institution less effective. This study examines how far the level of the risk and obligation incurred by bank and client under various Islamic home financing contract. This research is qualitative by using two methods, document analysis, and semi-structured interviews. Document analysis from literature review to identify profile, themes and risk transfer element in home financing from Islamic jurisprudence perspective. This study finds that need to create a risk transfer parameter by banks which are consistent with risk transfer theory according to Islamic jurisprudence. This study has potential to assist the authority in Islamic finance such as The Central Bank of Malaysia (Bank Negara Malaysia) in regulating Islamic banking industry so that the risk transfer valuation in home financing contract based on home financing good practice and determined risk limits.

Keywords: risk transfer, home financing contract, Sharia compliant, Malaysia

Procedia PDF Downloads 393

Authors: Renata Mekovec, Dijana Peras, Ruben Picek

Abstract:

The advent of the Internet, mobile devices and social media is revolutionizing the experience of retail customers by linking multiple sources through various channels. Omnichannel retailing is a retailing that combines multiple channels to allow customers to seamlessly leverage all the distribution information online and offline while shopping. Therefore, today data are an asset more critical than ever for all organizations. Nonetheless, because of its heterogeneity through platforms, developers are currently facing difficulties in dealing with personal data. Considering the possibilities of omnichannel communication, this paper presents channel categorization that could enhance the customer experience of omnichannel center called hyper center. The purpose of this paper is fundamentally to describe the connection between the omnichannel hyper center and the customer, with particular attention to privacy protection. The first phase was finding the most appropriate channels of communication for hyper center. Consequently, a selection of widely used communication channels has been identified and analyzed with regard to the effect requirements for optimizing user experience. The evaluation criteria are divided into 3 groups: general, user profile and channel options. For each criterion the weight of importance for omnichannel communication was defined. The most important thing was to consider how the hyper center can make user identification while respecting the privacy protection requirements. The study carried out also shows what customer experience across digital networks would look like, based on an omnichannel approach owing to privacy protection principles.

Keywords: personal data, privacy protection, omnichannel communication, retail

Procedia PDF Downloads 114