Search results for: transportation finance

Authors: Mahfoud Djebbar

Abstract:

Stock dilution is a financial phenomenon resulting from the issue of additional shares by a company, or when holders convert their convertibles into new shares (capital increase). This issue and/or conversion enlarge the company’s share base that will result in marginal dilution (loss) for existing shareholders, and a benefit to new ones. Dilution issues have already been addressed in mainstream finance, particularly as far as information disclosure is concerned. However, in Islamic finance, stock dilution problems have not been deeply studied and the subject has not received sufficient attention from shariah-compatible firms, investors, and scholars. In this regard, this paper emphasises the forms, the effects of capital dilution on current shareholders as well as the ways and techniques of compensating them. And since the research in this field, in its Islamic perspective, is still in its infancy, the paper tries to analyse the phenomenon theoretically in detail using numerical examples, and expose some case studies of Shariah-compliant issuers of convertible Sukuk and how they compensate their existing shareholders. Finally, this study shows that the Sukuk issuers compensate old shareholders using the right of shuf’ah as a well known and practiced pre-emptive right in Islamic transactions centuries ago, as well as the ways conventional bond issuers use.

Keywords: compensating shareholders, convertible Sukuk, Islamic financial innovation, Shuf’ah

Procedia PDF Downloads 305

Authors: Oscar Conrad Pili De Jesus

Abstract:

In consonance with the UN Convention on Rights for People with Disabilities, countries are mandated to provide a barrier-free environment through adherence to universal design and full participation of persons with disabilities (PWDs) in planning and implementation, but there is little action in incorporating universal design in the public environment. Travelling freely and independently is paramount to the needs of the PWDs to participate in daily activities ahead of them, and it contributes to the advancement of their inclusion in society, in which universal design is a catalyst to provide seamless access and mobility. This study aims to determine the barriers to incorporating the concept of universal design in transportation projects in Southeast Asian countries. Based on a literature review and using the accessible journey chain as a framework, barriers are identified and categorized in the components of public transport within the context of utilization of the transport mode, the built environment within the transport infrastructure, and the first and last miles of travel. Some findings in the study which constitute solutions to creating a barrier-free environment were identified as information to guide the future research agenda in efficiently incorporating universal design in transportation projects in Southeast Asian countries. The study reflected that the focus of most literature is on the built environment, noting that there is a need for future studies to investigate universal design in the context of the public transport component in the active journey chain.

Keywords: public transportation, barriers, universal design, persons with disabilities, accessible journey chain

Procedia PDF Downloads 104

Authors: Ghada Moussa, Mamoud Owais

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Transit Route Network Design Problem (TrNDP) is the most important component in Transit planning, in which the overall cost of the public transportation system highly depends on it. The main purpose of this study is to develop a novel solution methodology for the TrNDP, which goes beyond pervious traditional sophisticated approaches. The novelty of the solution methodology, adopted in this paper, stands on the deterministic operators which are tackled to construct bus routes. The deterministic manner of the TrNDP solution relies on using linear and integer mathematical formulations that can be solved exactly with their standard solvers. The solution methodology has been tested through Mandl’s benchmark network problem. The test results showed that the methodology developed in this research is able to improve the given network solution in terms of number of constructed routes, direct transit service coverage, transfer directness and solution reliability. Although the set of routes resulted from the methodology would stand alone as a final efficient solution for TrNDP, it could be used as an initial solution for meta-heuristic procedures to approach global optimal. Based on the presented methodology, a more robust network optimization tool would be produced for public transportation planning purposes.

Keywords: integer programming, transit route design, transportation, urban planning

Procedia PDF Downloads 241

Authors: Zareen Khan

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Islamic Banking has experienced high growth in Pakistan in recent years and has successfully survived the economic downturn of 2009-2011. Despite the increase in branch network and expansion of services, it is unclear if Islamic banks are truly following the theory and practical application of Shariah Law. This paper explores the theological basis of Islamic finance and examines the discrepancies between the theory and practice of Islamic banking using Pakistan as a case study. It discusses areas where Islamic banks lack proper Shariah compliance and analyzes the financial weaknesses of Islamic banks in terms of the services offered. Furthermore, the paper offers plausible explanations for the clientele of Islamic banks. The case study has three major findings. Firstly, most of the employees of Islamic banks come from conventional banking backgrounds and the banks have to invest in additional trainings to specialize employees in Islamic Banking. Secondly despite the efforts of State Bank of Pakistan, there is a lack of accounting and auditing standards tailored for Islamic Banking. Thirdly, majority of the clients of Islamic banks in Pakistan are accustomed to conventional banking causing the bankers to “speak the conventional banking language.” Combined, these three factors can create gaps in the practical application of Islamic finance in Islamic banks in Pakistan.

Keywords: islamic finance, comparing theory with practice, islamic banking, Pakistan

Procedia PDF Downloads 430

Authors: Tuğçe Yavaş Akış

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In recent years, due to an increased use of radioactive materials, radioactive sources are constantly being transported via air, road and ocean ways for medical, industrial, research etc. purposes throughout the world. The quantity of radioactive materials transported all around the world varies from negligible quantities in shipments of consumer products to very large quantities in shipments of irradiated nuclear fuel. Radioactive materials have been less attractive for social science researchers in literature. In this study, it is aimed to discover desired flow of radioactive materials from logistics service quality (LSQ) perspective. In doing so, case study approach will be employed by using secondary data collected from one of the world’s leading transportation companies’ customer care system reports. Movement of radioactive cargoes containing IR-192 and logistics process will be analyzed with the help of logistics service quality dimensions. Based on the case study that will be conducted, interaction between dimensions, the importance of each dimension in desired flow, and their relevance with desired flow of radioactive materials will be explained. This study will bring out the desired flow of radioactive materials transportation and be a guide for all other companies, employees and researchers.

Keywords: logistics service quality, LSQ dimension , radioactive material, transportation

Procedia PDF Downloads 205

Authors: Muhammad Awais Shafique, Eiji Hato

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Household trip data is of crucial importance for managing present transportation infrastructure as well as to plan and design future facilities. It also provides basis for new policies implemented under Transportation Demand Management. The methods used for household trip data collection have changed with passage of time, starting with the conventional face-to-face interviews or paper-and-pencil interviews and reaching to the recent approach of employing smartphones. This study summarizes the step-wise evolution in the travel data collection methods. It provides a comprehensive review of the topic, for readers interested to know the changing trends in the data collection field.

Keywords: computer, smartphone, telephone, travel survey

Procedia PDF Downloads 286

Authors: Saeed Sayyad Hagh Shomar

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Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using questionnaire of stated preference models users’ departure time choice affected by congestion pricing plan in downtown Tehran. Experimental results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: modeling, departure time, travel timing, time of the day, congestion pricing, transportation planning

Procedia PDF Downloads 410

Authors: Chiranjit Das, Sanjay Jharkharia

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

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

Procedia PDF Downloads 398

Authors: Parisa Hasanpour, Bahram Borooghani, Vahid Asadi

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In the current research, a catastrophic failure of a 304 stainless steel flange at pipeline transportation of ethylene in a petrochemical refinery was studied. Cracking was found in the flange after about 78840h service. Through the chemical analysis, tensile tests in addition to microstructural analysis such as optical microscopy and Scanning Electron Microscopy (SEM) on the failed part, it found that the fatigue was responsible for the fracture of the flange, which originated from bumps and depressions on the outer surface and propagated by vibration caused by the working condition.

Keywords: failure analysis, 304 stainless steel, fatigue, flange, petrochemical refinery

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Authors: Laaziz El Hassan

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The Service Network Design Problem (SNDP) is a tactical issue in freight transportation firms. The existing formulations of the problem for intermodal rail-road transportation were not always adapted to the intermodality in terms of full asset utilization and modal shift reinforcement. The objective of the article is to propose a model having a more compliant formulation with intermodality, including constraints highlighting the imperatives of asset management, reinforcing modal shift from road to rail and reducing, by the way, road mode CO2 emissions. The model is a fixed charged, path based integer nonlinear program. Its objective is to minimize services total cost while ensuring full assets utilization to satisfy freight demand forecast. The model's main feature is that it gives as output both the train sizes and the services frequencies for a planning period. We solved the program using a commercial solver and discussed the numerical results.

Keywords: intermodal transport network, service network design, model, nonlinear integer program, path-based, service frequencies, modal shift

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Authors: Sayyed Abdolmajid Jalaee Esfand Abadi, Sepideh Samimi

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Since one of the major difficulties to develop small manufacturing enterpriser in developing countries is the limitations of financing activities, this paper want to answer the question: “what is the role and status of micro finance in improving the labor productivity of small industries in Iran?” The results of panel data estimation show that micro finance in Iran has not yet been able to work efficiently and provide the required credit and investment. Also, reducing economy’s dependence on oil revenues reduced and increasing its reliance on domestic production and exports of industrial production can increase the productivity of workforce in Iranian small industries.

Keywords: microfinance, small manufacturing enterprises (SME), workforce productivity, Iran, panel data

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Authors: Hasnun Wara Khondker, M. Tarek Morad

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Bangladesh is one of the most populous countries of the world in terms of density. Dhaka, the capital of Bangladesh currently has a population of approximately 15-16 million of which around 9 million people are accommodated in Dhaka South City Corporation (DSCC) within around 109 square kilometer area. Despite having various urban issues, country is at its pick of economic progress and Dhaka is the core of this economic growth. To ensure the proper economic development and citizens wellbeing, city needs an ingenious, congestion-free public transportation network. Bus stop/bus bay is an essential infrastructure for ensuring efficient public transportation flow within the city along with enhancing accessibility, user comfort, and safety through public amenities. At present, there is no established Mass Rapid Transit or Bus Rapid Transit network within the city and therefore these private owned buses are the only major mode of mass transportation of Dhaka city. DSCC has undertaken a project to re-design several bus stops and bus bays according to the universal standard for better urban mobility and user satisfaction. This paper will analyze the design approach of the bus stop/bay infrastructure within Dhaka South, putting the research lens on sustainable urban mobility with case studies of similar kind of urban context. The paper will also study the design process with setting several parameters, i.e., accessibility, passenger safety, comfort, sustainability, etc. Moreover, this research will recommend a guideline for designing a bus stop based on the analysis of the design methods.

Keywords: bus stop, Dhaka, public transportation, sustainable urban mobility, universal accessibility, user safety

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Authors: S. Jayasinghe, R. B. N. Dissanayake

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Optimization modelling together with the Network models and Linear Programming techniques is a powerful tool in problem solving and decision making in real world applications. This study developed a mathematical model to optimize the net profit by minimizing the transportation cost. This model focuses the transportation among decentralized production plants to a centralized distribution centre and then the distribution among island wide agencies considering the customer satisfaction as a requirement. This company produces basically 9 types of food items with 82 different varieties and 4 types of non-food items with 34 different varieties. Among 6 production plants, 4 were located near the city of Mawanella and the other 2 were located in Galewala and Anuradhapura cities which are 80 km and 150 km away from Mawanella respectively. The warehouse located in the Mawanella was the main production plant and also the only distribution plant. This plant distributes manufactured products to 39 agencies island-wide. The average values and average amount of the goods for 6 consecutive months from May 2013 to October 2013 were collected and then average demand values were calculated. The following constraints are used as the necessary requirement to satisfy the optimum condition of the model; there was one source, 39 destinations and supply and demand for all the agencies are equal. Using transport cost for a kilometer, total transport cost was calculated. Then the model was formulated using distance and flow of the distribution. Network optimization and linear programming techniques were used to originate the model while excel solver is used in solving. Results showed that company requires total transport cost of Rs. 146, 943, 034.50 to fulfil the customers’ requirement for a month. This is very much less when compared with data without using the model. Model also proved that company can reduce their transportation cost by 6% when distributing to island-wide customers. Company generally satisfies their customers’ requirements by 85%. This satisfaction can be increased up to 97% by using this model. Therefore this model can be used by other similar companies in order to reduce the transportation cost.

Keywords: mathematical model, network optimization, linear programming

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Authors: Sourabh Jain, S. S. Jain

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Intelligent transportation system (ITS) is the application of technologies for developing a user–friendly transportation system to extend the safety and efficiency of urban transportation systems in developing countries. These systems involve vehicles, drivers, passengers, road operators, managers of transport services; all interacting with each other and the surroundings to boost the security and capacity of road systems. The goal of urban corridor management using ITS in road transport is to achieve improvements in mobility, safety, and the productivity of the transportation system within the available facilities through the integrated application of advanced monitoring, communications, computer, display, and control process technologies, both in the vehicle and on the road. Intelligent transportation system is a product of the revolution in information and communications technologies that is the hallmark of the digital age. The basic ITS technology is oriented on three main directions: communications, information, integration. Information acquisition (collection), processing, integration, and sorting are the basic activities of ITS. In the paper, attempts have been made to present the endeavor that was made to interpret and evaluate the performance of the 27.4 Km long study corridor having eight intersections and four flyovers. The corridor consisting of six lanes as well as eight lanes divided road network. Two categories of data have been collected such as traffic data (traffic volume, spot speed, delay) and road characteristics data (no. of lanes, lane width, bus stops, mid-block sections, intersections, flyovers). The instruments used for collecting the data were video camera, stop watch, radar gun, and mobile GPS (GPS tracker lite). From the analysis, the performance interpretations incorporated were the identification of peak and off-peak hours, congestion and level of service (LOS) at midblock sections and delay followed by plotting the speed contours. The paper proposed the urban corridor management strategies based on sensors integrated into both vehicles and on the roads that those have to be efficiently executable, cost-effective, and familiar to road users. It will be useful to reduce congestion, fuel consumption, and pollution so as to provide comfort, safety, and efficiency to the users.

Keywords: ITS strategies, congestion, planning, mobility, safety

Procedia PDF Downloads 158

Authors: Sourabh Jain, Sukhvir Singh Jain, Gaurav V. Jain

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Intelligent Transportation System is an integrated application of communication, control and monitoring and display process technologies for developing a user–friendly transportation system for urban areas in developing countries. In fact, the development of a country and the progress of its transportation system are complementary to each other. Urban traffic has been growing vigorously due to population growth as well as escalation of vehicle ownership causing congestion, delays, pollution, accidents, high-energy consumption and low productivity of resources. The development and management of urban transport in developing countries like India however, is at tryout stage with very few accumulations. Under the umbrella of ITS, urban corridor management strategy have proven to be one of the most successful system in accomplishing these objectives. The present study interprets and figures out the performance of the 27.4 km long Urban Bus route having six intersections, five flyovers and 29 bus stops that covers significant area of the city by causality analysis. Performance interpretations incorporate Passenger Boarding and Alighting, Dwell time, Distance between Bus Stops and Total trip time taken by bus on selected urban route.

Keywords: congestion, dwell time, passengers boarding alighting, travel time

Procedia PDF Downloads 314

Authors: Akram Atef Rawshdeh

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This research aims to prove the role of Islamic pilgrimage caravans in formulating the concept of the tourism industry and the concept of Grand Tours before that which was found in Europe in the medieval and modern Ages, through its duration and the number of tourists who participated in it and its role in providing tourism services from the establishment of castles and inns that were built To accommodate pilgrims during their travels from different regions of the Islamic world to the holy places in Saudi Arabia, as well as food and beverage services, transportation and support services like tourist security and tourist guide services. This research will depend on the historical method

Keywords: grand tour, hajj caravan routes, tourism services, transportation

Procedia PDF Downloads 132

Authors: Robertoes K. K. Wibowo, Siswoyo Soekarno, Irma Puspitasari

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Indonesian people use trains for their transportation, especially they use economy class train transportation because it is cheaper and has a more precise schedule than any other ground transportation. Nevertheless, the economy class passenger seat raises some inconvenience issues for passengers. This is due to the design of the chair on the economic class of trains that did not adjusted to the shape of anthropometry of Indonesian people. Thus, research needs to be conducted on the design of the seats in the economic class of trains. The purpose of this research is to make the design of economy class passenger seats ergonomic. This research method uses questionnaires and anthropometry measurements. The data obtained is processed using House of Quality of Ergonomic Function Development. From the results of analysis and data processing were obtained important changes from the original design. Ergonomic chair design according to the analysis is a stainless steel frame, seat height 390 mm, with a seat width for each passenger of 400 mm and a depth of 400 mm. Design of the backrest has a height of 840 mm, width of 430 mm and length of 300 mm that can move at the angle of 105-115 degrees. The width of the footrest is 42 mm and 400 mm length. The thickness of the seat cushion is 100 mm.

Keywords: chair, ergonomics, function development, train passenger

Procedia PDF Downloads 267

Authors: Ashenafi Beyene Fanta, Daniel Makina

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

Keywords: bond market, finance, financial sector, growth

Procedia PDF Downloads 390

Authors: Sankar Majumder

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Development of Rural Entrepreneurs requires a holistic approach involving social, economic, political, technical, and environmental and many other issues. It needs a thorough understanding of the economy and society. It's true that agricultural development, rural development and many other social and right based development programmes have resulted in the growth of income in the rural sector. The development of rural entrepreneurs is necessary to utilise these opportunities. Many programmes and policies in the spheres of organisational, financial, infrastructural and technical supports have been taken to promote rural industries. But if one looks at the growth and development of rural industrial units, especially the manufacturing units, the picture is not promising. This paper aims at analysing the possible causes and its solutions in terms of (1) Mind set of the society towards business as a livelihood; (2) Sufficiency and appropriateness of the existing organisational, financial, infrastructural and technical supports. The paper is based on secondary data on various aspects of rural enterprises and the author’s experiences in the course of his work as a practitioner in this field. Growth of units and employment in the rural industries shows that the entrepreneurs are more inclined towards trading units than towards manufacturing ventures. The growth of rural industries is constrained not by the insufficiency of the supply of finance but by the insufficient demand for finance. The task is to increase the supply of entrepreneurs by creating an entrepreneurial environment. Incubation for rural entrepreneurs is the need of the hour.

Keywords: business mind set, entrepreneurial environment, supply of finance, technical support

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Authors: Nico Rosamilia

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The study evaluates the importance of non-financial disclosure practices for regulators, investors, businesses, and markets. It aims to create a sector-specific set of indicators for environmental, social, and governance (ESG) performances alternative to the ratings of the agencies. The existing literature extensively studies the implementation of ESG rating systems. Conversely, this study has a twofold outcome. Firstly, it should generalize incentive systems and governance policies for ESG and sustainable principles. Therefore, it should contribute to the EU Sustainable Finance Disclosure Regulation. Secondly, it concerns the market and the investors by highlighting successful sustainable investing. Indeed, the study contemplates the effect of ESG adoption practices on corporate value. The research explores the asset pricing angle in order to shed light on the fragmented argument on the finance of ESG. Investors may be misguided about the positive or negative effects of ESG on performances. The paper proposes a different method to evaluate ESG performances. By comparing the results of a traditional econometric approach (Lasso) with a machine learning algorithm (Random Forest), the study establishes a set of indicators for ESG performance. Therefore, the research also empirically contributes to the theoretical strands of literature regarding model selection and variable importance in a finance framework. The algorithms will spit out sector-specific indicators. This set of indicators defines an alternative to the compounded scores of ESG rating agencies and avoids the possible offsetting effect of scores. With this approach, the paper defines a sector-specific set of indicators to standardize ESG disclosure. Additionally, it tries to shed light on the absence of a clear understanding of the direction of the ESG effect on corporate value (the problem of endogeneity).

Keywords: ESG ratings, non-financial information, value of firms, sustainable finance

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Authors: Maria Ezziani, Rabie Zine, Amine Amar, Ilhame Kissani

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This paper introduces a predictive model for urban transportation engineering, which is vital for efficient traffic management. Utilizing comprehensive datasets and advanced statistical techniques, the model accurately forecasts travel times by considering temporal variations and traffic dynamics. Machine learning algorithms, including regression trees and neural networks, are employed to capture sequential dependencies. Results indicate significant improvements in predictive accuracy, particularly during peak hours and holidays, with the incorporation of traffic flow and speed variables. Future enhancements may integrate weather conditions and traffic incidents. The model's applications range from adaptive traffic management systems to route optimization algorithms, facilitating congestion reduction and enhancing journey reliability. Overall, this research extends beyond travel time estimation, offering insights into broader transportation planning and policy-making realms, empowering stakeholders to optimize infrastructure utilization and improve network efficiency.

Keywords: predictive analytics, traffic flow, travel time estimation, urban transportation, machine learning, traffic management

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Authors: Flora Babongo, Valerie Chavez

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Inferring causality from observational data is one of the fundamental subjects, especially in quantitative finance. So far most of the papers analyze additive noise models with either linearity, nonlinearity or Gaussian noise. We fill in the gap by providing a nonlinear and non-gaussian causal multiplicative noise model that aims to distinguish the cause from the effect using a two steps method based on Bayesian additive models for location, scale and shape (BAMLSS) and on causal additive models (CAM). We have tested our method on simulated and real data and we reached an accuracy of 0.86 on average. As real data, we considered the causality between financial indices such as S&P 500, Nasdaq, CAC 40 and Nikkei, and companies' log-returns. Our results can be useful in inferring causality when the data is heteroskedastic or non-injective.

Keywords: causal inference, DAGs, BAMLSS, financial index

Procedia PDF Downloads 127

Authors: Balaji Ganesh Rajagopal, Subramanian Appavu alias Balamurugan, Ayyalraj Midhun Kumar, Krishnan Nallaperumal

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Intelligent Transportation System is an Emerging area to solve multiple transportation problems. Several forms of inputs are needed in order to solve ITS problems. Advanced Traveler Information System (ATIS) is a core and important ITS area of this modern era. This involves travel time forecasting, efficient road map analysis and cost based path selection, Detection of the vehicle in the dynamic conditions and Traffic congestion state forecasting. This Article designs and provides an algorithm for traffic data generation which can be used for the above said ATIS application. By inputting the real world traffic situation in the form of video sequences, the algorithm determines the Traffic density in terms of congestion, number of vehicles in a given path which can be fed for various ATIS applications. The Algorithm deduces the key frame from the video sequences and follows the Blob detection, Identification and Tracking using connected components algorithm to determine the correlation between the vehicles moving in the real road scene.

Keywords: traffic transportation, traffic density estimation, blob identification and tracking, relative velocity of vehicles, correlation between vehicles

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Authors: Mengyu Lu, Yongsheng Guo

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This study investigates how employee incentives affect employee performance in financing from customers. This study followed a grounded theory approach where data were collected through 29 interviews. Main themes and categories were identified through the coding processes. This study found that casual conditions, including financial barriers, informal finance, business location, customer base and customer relationship, influenced the adoption of customer finance in the case of SMEs. The SMEs build and maintain long-term relationships with customers through personal communications. The SMEs engage and motivate employees in customer communications and business financing strategy through financial incentives programs, including bonuses, salary rises, rewards and non-financial incentives, including training opportunities, extra holiday leave, and flexible working hours. Employee performance was measured through financing contribution and job contribution. As a consequence, customers will be well served by employees and get a better customer experience. SMEs can get benefits such as employee engagement, employee satisfaction and sustainable financing sources. This study gets in sight of employee incentives in improving employee performance in customer finance and makes implications to human capital theories. Suggestions are provided to the decision-makers in businesses as incentive programs improve employee performance that, eventually contributes to overall business performance.

Keywords: SMEs, financing from customers, employee incentives, performance-based measurement

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Authors: Guo Yan

Abstract:

Clothing recycling bin is a traditional way to collect textile waste in many areas. In the clothing recycling business, the transportation cost normally takes over 50% of total costs. This case gives a good way to reduce transportation cost by reverse logistics system. In this reverse logistics system, there are offline strategic alliance partners, such as transport firms, convenience stores, laundries, and post office which are integrated onto the mobile APP. Offline strategic alliance partners provide the service of textile waste collection, and transportation by their vacant vehicles return journey from convenience stores, laundries and post offices to sorting centers. The results of the case study provide the strategic alliance with a valuable and light - asset business model by using the logistics of offline memberships. The company in this case just focuses on textile waste sorting, reuse, recycling etc. The research method of this paper is a case study of a clothing recycling company in Chengdu by field research and interview; the analysis is based on the theory of the reverse logistics system.

Keywords: closed-loop recycles system, clothing recycling, end-of-life clothing, sharing economy, strategic alliance, reverse logistics.

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Authors: In Su Na, Dongyeon Seo, Hwanyong Kim

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This research focuses on new town planning methodology in aspects of Neighborhood Unit Formula and New Urbanism. In Korea, there were built many new towns since 1980’s. The urban design concepts also shifted variously in land use, transportation, open spaces and architectural design. This research aims to find out urban design planning and factors in each new town planning through comparison of four new town cases in aspects of land use, transportation and building design of metropolitan area of Seoul. In conclusion the recent new town has created an area with a unique place that has not been seen in the early new town, and it has a certain aspect that is in line with the planning principles of New Urbanism.

Keywords: compact city, neighborhood unit formula, new town planning, new urbanism

Procedia PDF Downloads 276

Authors: Saeed Sayyad Hagh Shomar

Abstract:

Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using the users’ stated preference in questionnaire models users’ departure time choice affected by congestion pricing schemes in high traffic suburban entrance roads of Tehran. The results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: congestion pricing, departure time, modeling, travel timing, time of the day, transportation planning

Procedia PDF Downloads 273

Authors: Luc Beal

Abstract:

Introduction. Among the stakeholders involved in the tourist decision-making process, the accommodation provider has the potential to play a crucial role in raising awareness, disseminating information, and thus influencing the tourists’ choice of transportation. Since the early days of tourism, the accommodation provider has consistently served as the primary point of contact with the destination, and consequently, as the primary source of information for visitors. By offering accommodation and hospitality, the accommodation provider has evolved into a trusted third party, functioning as an 'ambassador' capable of recommending the finest attractions and activities available at the destination. In contemporary times, when tourists plan their trips, they make a series of consecutive decisions, with the most important decision being to lock-in the accommodation reservation for the earliest days, so as to secure a safe arrival. Consequently, tourists place their trust in the accommodation provider not only for lodging but also for recommendations regarding restaurants, activities, and more. Thus, the latter has the opportunity to inform and influence tourists well in advance of their arrival, particularly during the booking phase, namely when it comes to selecting their mode of transportation. The pressing need to reduce greenhouse gas emissions within the tourism sector presents an opportunity to underscore the influence that accommodation providers have historically exerted on tourist decision-making . Methodology A participatory research, currently ongoing in south-western France, in collaboration with a nationwide hotel group and several destination management organizations, aims at examining the factors that determine the ability of accommodation providers to influence tourist transportation choices. Additionally, the research seeks to identify the conditions that motivate accommodation providers to assume a proactive role, such as fostering customer loyalty, reduced distribution costs, and financial compensation mechanisms. A panel of hotels participated in a series of focus group sessions with tourists, with the objective of modeling the decision-making process of tourists regarding their choice of transportation mode and to identify and quantify the types and levels of incentives liable to encourage environmentally responsible choices. Individual interviews were also conducted with hotel staff, including receptionists and guest relations officers, to develop a framework for interactions with tourists during crucial decision-making moments related to transportation choices. The primary finding of this research indicates that financial incentives significantly outweigh symbolic incentives in motivating tourists to opt for eco-friendly modes of transportation. Another noteworthy result underscores the crucial impact of organizational conditions governing interactions with tourists both before and during their stay. These conditions greatly influence the ability to raise awareness at key decision-making moments and the possibility of gathering data about the chosen transportation mode during the stay. In conclusion, this research has led to the formulation of practical recommendations for accommodation providers and Destination Marketing Organizations (DMOs). These recommendations pertain to communication protocols with tourists, the collection of evidences confirming chosen transportation modes, and the implementation of necessary incentives. Through these measures, accommodation provider can assume a central role in guiding tourists towards making responsible choices in terms of transportation.

Keywords: accommodation provider, trusted third party, environmentally-friendly transportation, green house gas, tourist decision-making process

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Authors: Kuo-Wei Hsu, Jen-Chih, Chao, Pei-Chen, Wu

Abstract:

With the rapid development of global economy, the increasing population, the highly industrialization, greenhouse gas emission and the ozone layer damage, the Global Warming happens. Facing the impact of global warming, the issue of “green transportation” began to be valued and promoted in each city. Taichung has been elected as the model of low-carbon city in Taiwan. To comply with international trends and the government policy, we tried to promote the energy saving and carbon reduction to create a “low-carbon Taichung with green life and eco-friendly economy”. To cooperate with the “green transportation” project, Taichung has promoted a number of public transports constructions and traffic policy in recent years like BRT, MRT, etc. The elevated railway is one of those important constructions. Cooperating with the green transport policy, elevated railway could help to achieve the carbon reduction for this low-carbon city. The current studies of the carbon emissions associated with railways and roads are focusing on the assessment on paving material, institutional policy and economic benefit. Except for changing the mode of transportation, elevated railways/roads also create space under the bridge. However, there is no research about the carbon emissions of the space underneath the elevated section up until now. This study investigated the effect of railway track elevation project in Taichung based on the carbon emissions and the factors that affect carbon emissions by research related theory and literature analysis. This study concluded that : railway track elevation increased the public transit, the bike lanes, the green areas and walking spaces. In the other hand it reduced the traffic congestions, the use of motorcycles as well as automobiles for carbon emissions.

Keywords: low-carbon city, green transportation, carbon emissions, Taichung, Taiwan

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Authors: Ahmed Osama, Hassan A. Mahdy, Khalid A. Kandil, Mohamed Elhabiby

Abstract:

Automatic Vehicle Location systems (AVL) have been used worldwide for more than twenty years and have showed great success in public transportation management and monitoring. Cairo public bus service suffers from several problems such as unscheduled stops, unscheduled route deviations, and inaccurate schedules, which have negative impacts on service reliability. This research aims to study those problems for a selected bus route in Cairo using a prototype AVL system. Experimental trips were run on the selected route; and the locations of unscheduled stops, regions of unscheduled deviations, along with other trip time and speed data were collected. Data was analyzed to demonstrate the reliability of passengers on the unscheduled stops compared to the scheduled ones. Trip time was also modeled to assess the unscheduled stops’ impact on trip time, and to check the accuracy of the applied scheduled trip time. Moreover, frequency and length of the unscheduled route deviations, as well as their impact on the bus stops, were illustrated. Solutions were proposed for the bus service deficiencies using the AVL system. Finally, recommendations were proposed for further research.

Keywords: automatic vehicle location, public transportation, unscheduled stops, unscheduled route deviations, inaccurate schedule

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