Search results for: woody carbon stock

Authors: Laura Frydel

Abstract:

Chloroxylenol is a common ingredient in disinfectants. Due to the use of this compound in large amounts, it is more and more often detected in rivers, sewage, and also in human body fluids. In recent years, there have been concerns about the potentially harmful effects of chloroxylenol on human health and the environment. This paper presents the synthesis, a brief characterization and the use of a halloysite-carbon adsorbent for the removal of chloroxylenol from water. The template in the halloysite-carbon adsorbent was acid treated bleached halloysite, and the carbon precursor was cellulose dissolved in zinc (II) chloride, which was dissolved in 37% hydrochloric acid. The FTIR spectra before and after the adsorption process allowed to determine the presence of functional groups, bonds in the halloysite-carbon composite, and the binding mechanism of the adsorbent and adsorbate. The morphology of the bleached halloysite sample and the sample of the halloysite-carbon adsorbent were characterized by scanning electron microscopy (SEM) with surface analysis by X-ray dispersion spectrometry (EDS). The specific surface area, total pore volume and mesopore and micropore volume were determined using the ASAP 2020 volumetric adsorption analyzer. Total carbon and total organic carbon were determined for the halloysite-carbon adsorbent. The halloysite-carbon adsorbent was used to remove chloroxylenol from water. The degree of removal of chloroxylenol from water using the halloysite-carbon adsorbent was about 90%. Adsorption studies show that the halloysite-carbon composite can be used as an effective adsorbent for removing chloroxylenol from water.

Keywords: adsorption, cellulose, chloroxylenol, halloysite

Procedia PDF Downloads 162

Authors: A. Kamarchoua, A. A. Bebaa, A. Douadi

Abstract:

The current work has a goal of the preparation of activated carbon from the stones of dates from southern Algeria (El-Oued province) using a simple pyrolysis proceeded by chemical impregnation in sulphuric acid. For the preparation of the carbon, we choose the diameter of the pellets (0.5-1)mm, activation by acid and water (1:1), carbonization at 450˚C. The prepared carbon has the following characteristics: specific surface 125.86 m2/g, methylene blue number 40, CCE = 0.3meq.g/l, IR and micrographics SEM. The activated carbon thus obtained is used at the water purification in wastewater treatment plant (WWTP) at Kouinine, El- Oued province, to totally eliminate phosphorus. We analyzed the water at the WWTP before the purification procedure. In this study, we have looked at the effect of the following parameters on the adsorption of carbon: the pH, the contact time (Tc) and the agitation speed (Va). The best conditions for phosphorus adsorption are: pH=4 or pH >5, Tc = 60 min and Va = 900 rotations per minute.

Keywords: activated carbon, date stones, pyrolysis, phosphate pollutants

Procedia PDF Downloads 351

Authors: Mohammad Irfan

Abstract:

The purpose of this paper is to investigate the relationship among the key macroeconomic variables and Islamic stock market in India. This study is based on the time series data of financial years 2009-2015 to explore the consistency of relationship between macroeconomic variables and Shariah Indices. The ADF (Augmented Dickey–Fuller Test Statistic) and PP (Phillips–Perron Test Statistic) tests are employed to check stationarity of the data. The study depicts the long run relationship between Shariah indices and macroeconomic variables by using the Johansen Co-integration test. BSE Shariah and Nifty Shariah have uni-direct Granger causality. The outcome of VECM is significantly confirming the applicability of best fitted model. Thus, Islamic stock indices are proficiently working for the development of Indian economy. It suggests that by keeping eyes on Islamic stock market which will be more interactive in the future with other macroeconomic variables.

Keywords: Indian Shariah Indices, macroeconomic variables, co-integration, Granger causality, vector error correction model (VECM)

Procedia PDF Downloads 256

Authors: Katleho Daniel Makatjane, Diteboho Lawrence Xaba, Ntebogang Dinah Moroke

Abstract:

The current study investigates the behaviour of time-varying parameters that are based on the score function of the predictive model density at time t. The mechanism to update the parameters over time is the scaled score of the likelihood function. The results revealed that there is high persistence of time-varying, as the location parameter is higher and the skewness parameter implied the departure of scale parameter from the normality with the unconditional parameter as 1.5. The results also revealed that there is a perseverance of the leptokurtic behaviour in stock returns which implies the returns are heavily tailed. Prior to model estimation, the White Neural Network test exposed that the stock price can be modelled by a GAS model. Finally, we proposed further researches specifically to model the existence of time-varying parameters with a more detailed model that encounters the heavy tail distribution of the series and computes the risk measure associated with the returns.

Keywords: generalized autoregressive score model, South Africa, stock returns, time-varying

Procedia PDF Downloads 476

Authors: Hedaya Ali Al Ameri, Alya A. Arabi

Abstract:

Measuring the level of carbon storage in mangroves’ biomass has a potential impact in the climate change of UAE. Carbon dioxide is one of greenhouse gases. It is considered to be a main reason for global warming. Deforestation is a key source of the increase in carbon dioxide whereas forests such as mangroves assist in removing carbon dioxide from atmosphere by storing them in its biomass and soil. By using Kauffman and Donato methodology, above- and below-ground biomass and carbon stored in UAE’s natural mangroves were quantified. Carbon dioxide equivalent (CO2eq) released to the atmosphere was then estimated in case of mangroves deforestation in the UAE. The results show that the mean total biomass of mangroves in the UAE ranged from 15.75 Mg/ha to 3098.69 Mg/ha. The estimated CO2eq released upon deforestation in the UAE was found to have a minimal effect on the temperature increase and thus global warming.

Keywords: carbon stored in biomass, mangrove deforestation, temperature change, United Arab Emirate

Procedia PDF Downloads 368

Authors: Zhaojun Wang, Zongdi Sun, Zhiyuan Liu

Abstract:

First of all, the carbon trading price and trading volume in Shanghai are transformed by Fourier transform, and the frequency response diagram is obtained. Then, the frequency response diagram is analyzed and the Blackman filter is designed. The Blackman filter is used to filter, and the carbon trading time domain and frequency response diagram are obtained. After wavelet analysis, the carbon trading data were processed; respectively, we got the average value for each 5 days, 10 days, 20 days, 30 days, and 60 days. Finally, the data are used as input of the Back Propagation Neural Network model for prediction.

Keywords: Shanghai carbon trading, carbon trading price, carbon trading volume, wavelet analysis, BP neural network model

Procedia PDF Downloads 361

Authors: Farid Habibi Tanha, Mojtaba Jahanbazi, Morteza Foroutan, Rasidah Mohd Rashid

Abstract:

This paper depicts the effects of asymmetric information in determining capital inflows to be captured through stock market microstructure. The model can explain several stylized facts regarding the capital immobility. The first phase of the research involves in collecting and refining 150,000,000 daily data of 11 stock markets over a period of one decade in an effort to minimize the impact of survivorship bias. Three micro techniques were used to measure information asymmetries. The final phase analyzes the model through panel data approach. As a unique contribution, this research will provide valuable information regarding negative effects of information asymmetries in stock markets on attracting foreign investments. The results of this study can be directly considered by policy makers to monitor and control changes of capital flow in order to keep market conditions in a healthy manner, by preventing and managing possible shocks to avoid sudden reversals and market failures.

Keywords: asymmetric information, capital inflow, market microstructure, investment

Procedia PDF Downloads 281

Authors: Titinan Pothong, Prasit Wangpakapattanawong, Stephen Elliott

Abstract:

Shifting cultivation is an indigenous agricultural practice among upland people and has long been one of the major land-use systems in Southeast Asia. As a result, fallows and secondary forests have come to cover a large part of the region. However, they are increasingly being replaced by monocultures, such as corn cultivation. This is believed to be a main driver of deforestation and forest degradation, and one of the reasons behind the recurring winter smog crisis in Thailand and around Southeast Asia. Accurate biomass estimation of trees is important to quantify valuable carbon stocks and changes to these stocks in case of land use change. However, presently, Thailand lacks proper tools and optimal equations to quantify its carbon stocks, especially for secondary evergreen forests, including fallow areas after shifting cultivation and smaller trees with a diameter at breast height (DBH) of less than 5 cm. Developing new allometric equations to estimate biomass is urgently needed to accurately estimate and manage carbon storage in tropical secondary forests. This study established new equations using a destructive method at three study sites: approximately 50-year-old secondary forest, 4-year-old fallow, and 7-year-old fallow. Tree biomass was collected by harvesting 136 individual trees (including coppiced trees) from 23 species, with a DBH ranging from 1 to 31 cm. Oven-dried samples were sent for carbon analysis. Wood density was calculated from disk samples and samples collected with an increment borer from 79 species, including 35 species currently missing from the Global Wood Densities database. Several models were developed, showing that aboveground biomass (AGB) was strongly related to DBH, height (H), and wood density (WD). Including WD in the model was found to improve the accuracy of the AGB estimation. This study provides insights for reforestation management, and can be used to prepare baseline data for Thailand’s carbon stocks for the REDD+ and other carbon trading schemes. These may provide monetary incentives to stop illegal logging and deforestation for monoculture.

Keywords: aboveground biomass, allometric equation, carbon stock, secondary forest

Procedia PDF Downloads 258

Authors: Adesola O. Orimoloye, Edward Gobina

Abstract:

Flue gas is the most prevalent source of carbon dioxide off-gas from numerous processes globally. Among the lion's share of this flue gas is the ever-present electric power plant, primarily fuelled by coal, and then secondly, natural gas. The carbon dioxide found in coal fired power plant off gas is among the dirtiest forms of carbon dioxide, even with many of the improvements in the plants; still this will yield sulphur and nitrogen compounds; among other rather nasty compounds and elements; all let to the atmosphere. This presentation will focus on the characterization of carbon dioxide-rich flue gas sources with a view of eventual conversion to chemicals and fuels using novel membrane reactors.

Keywords: flue gas, carbon dioxide, membrane, catalyst, syngas

Procedia PDF Downloads 492

Authors: Uzu-Kuei Hsu, Keh-Chin Chang, Joo-Guan Hang, Chang-Hsien Tai

Abstract:

Carbon Deposits are often occurred inside the industrial coke oven during the coking process. Accumulation of carbon deposits may cause a big issue, which seriously influences the coking operation. The carbon is burning off by injecting fresh air through pipes into coke oven which is an efficient way practically operated in industries. The burning off carbon deposition in coke oven performed by Computational Fluid Dynamics (CFD) method has provided an evaluation of the feasibility study. A three-dimensional, transient, turbulent reacting flow simulation has performed with three different injecting air flow rate and another kind of injecting configuration. The result shows that injection higher air flow rate would effectively reduce the carbon deposits. In the meantime, the opened charging holes would suck extra oxygen from the atmosphere to participate in reactions. In term of coke oven operating limits, the wall temperatures are monitored to prevent over-heating of the adiabatic walls during the burn-off process.

Keywords: coke oven, burning off, carbon deposits, carbon combustion, CFD

Procedia PDF Downloads 667

Authors: Almoutassem Bellah Nasser

Abstract:

This paper is aimed at calculating the intangible assets of Jordanian economy. This effort is a response to the demand from corporations for these services which reflects a perceived gap in internal and external financial reporting on intangible investments. The main conclusion of the paper is to suggest that the way forward to a standardized, more comparable approach to measuring intangible capital is to employ CIV method of valuation. Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change as some attempts have been made to measure the amount of intangible assets. It was found that intangible assets account for $164.20 million in all the listed companies of Jordan. All this money does not appear on the balance sheets of these companies and hence requires special attention of policy makers for better utilization.

Keywords: intangible capital, stock prices, Amman Stock Exchange

Procedia PDF Downloads 353

Authors: Jing Zhang

Abstract:

To reduce the carbon footprint of mankind and become more sustainable is one of the major challenges in our era. Internet of Things (IoT) mainly resolves three problems: Things to Things (T2T), Human to Things, H2T), and Human to Human (H2H). Borrowing the classification of IoT, we can find carbon prints of industries also can be divided in these three ways. Therefore, monitoring the routes of generation and circulation of products may help calculate product carbon print. This paper does not consider any technique used by IoT itself, but the ideas of it look at the connection of products. Carbon prints are like a gene or mark of a product from raw materials to the final products, which never leave the products. The contribution of this paper is to combine the characteristics of IoT and the methodology of network science to find a way to calculate the product's carbon footprint. Life cycle assessment, LCA is a traditional and main tool to calculate the carbon print of products. LCA is a traditional but main tool, which includes three kinds.

Keywords: product carbon footprint, Internet of Things, network science, life cycle assessment

Procedia PDF Downloads 83

Authors: Sohanur Rahman, Elisabeth Sinnewe, Larelle (Ellie) Chapple, Sarah Osborne

Abstract:

Greater political attention to global climate change exposes firms to a higher level of political uncertainty, which can lead to adverse capital market consequences. However, a higher level of discourse on environment-specific political risk (EPR) between management and investors can mitigate information asymmetry, followed by less stock price crash risk. This study examines whether EPR discourse in discourse in the earnings conference calls (ECC) reduces firm-level stock price crash risk in the US market. This research also explores if adverse disclosures via media channels further moderates the association between EPR on crash risk. Employing a dataset of 28,933 firm-year observations from 2002 to 2020, the empirical analysis reveals that EPR discourse in ECC reduces future stock price crash risk. However, adverse disclosures via media channels can offset the favourable effect of EPR discourse on crash risk. The results are robust to the potential endogeneity concern in a quasi-natural experiment setting.

Keywords: earnings conference calls, environment, environment-specific political risk discourse, environmental disclosures, information asymmetry, reputation risk, stock price crash risk

Procedia PDF Downloads 107

Authors: A. Evcin, N. Çiçek Bezir, R. Duman, N. Duman

Abstract:

Nowadays, a great concern is placed on the harmfulness of ultraviolet radiation (UVR) which attacks human bodies. Nanocarbon materials, such as carbon nanotubes (CNTs), carbon nanofibers (CNFs) and graphene, have been considered promising alternatives to shielding materials because of their excellent electrical conductivities, very high surface areas and low densities. In the present work, carbon nanofibers have been synthesized from solutions of Polyacrylonitrile (PAN)/ N,N-dimethylformamide (DMF) by electrospinning method. The carbon nanofibers have been stabilized by oxidation at 250 °C for 2 h in air and carbonized at 750 °C for 1 h in H2/N2. We present the fabrication and characterization of transparent and ultraviolet (UV) shielding CNF/polymer composites. The content of CNF filler has been varied from 0.2% to 0.6 % by weight. UV Spectroscopy has been performed to study the effect of composition on the transmittance of polymer composites.

Keywords: electrospinning, carbon nanofiber, characterization, composites, nanofiber, ultraviolet radiation

Procedia PDF Downloads 186

Authors: Jonggeon Lee, Sungho Tae, Sungjoon Suk, Keunhyeok Yang, George Ford, Michael E. Smith, Omidreza Shoghli

Abstract:

In recent years, research to reduce carbon emissions through quantitative assessment of building life cycle carbon emissions has been performed as it relates to the construction industry. However, most research efforts related to building carbon emissions assessment have been focused on evaluation during the operational phase of a building’s life span. Few comprehensive studies of the carbon emissions during a building’s construction phase have been performed. The purpose of this study is to propose an assessment method that quantitatively evaluates the carbon emissions of buildings during the construction phase. The study analysed the amount of carbon emissions produced by 17 construction trades, and selected four construction trades that result in high levels of carbon emissions: reinforced concrete work; sheathing work; foundation work; and form work. Building materials, and construction and transport equipment used for the selected construction trades were identified, and carbon emissions produced by the identified materials and equipment were calculated for these four construction trades. The energy consumption of construction and transport equipment was calculated by analysing fuel efficiency and equipment productivity rates. The combination of the expected levels of carbon emissions associated with the utilization of building materials and construction equipment provides means for estimating the quantity of carbon emissions related to the construction phase of a building’s life cycle. The proposed carbon emissions assessment method was validated by case studies.

Keywords: building construction phase, carbon emissions assessment, building life cycle

Procedia PDF Downloads 716

Authors: Edson Vengesai

Abstract:

Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.

Keywords: derivatives use, hedging, volatility, stock price exposure

Procedia PDF Downloads 78

Authors: I. P. Singh, Ajesh Kumar Kapoor

Abstract:

Rapid globalization have led to a change towards massive uncontrolled urbanization. Whereas during initial years negligence was there in the name of development, growth and vision toward healthier and better tomorrow. Considering the scenario of developing nations (India) where 70% of their population is living on 30% (urban areas) of their total land available. The need of an hour is to consider the ethical values of each and every person living in urban fringes, whereby the sustainable urban development is promoted which encompasses the move toward low carbon developments. It would help reviving a city lung space and reducing carbon credits as per Kyoto Protocol 1991. This paper would provide an overview about Indian scenario of current urban areas, ongoing developments, series of regulatory policy measures, materials innovative use and policies framed and opted for low carbon development.

Keywords: urban sustainability, indicators for sustainable development, low carbon development, Indian Policies toward low carbon development

Procedia PDF Downloads 382

Authors: Azzam Alosaimi

Abstract:

Different countries attempt to reduce energy demands and Greenhouse Gas (GHG) emissions to mitigate global warming potential. They set different building codes to regulate excessive building’s energy losses. Energy losses occur due to pressure difference between the indoor and outdoor environments, and thus, heat transfers from one region to another. One major sources of energy loss is known as building airtightness. Building airtightness is the fundamental feature of the building envelope that directly impacts infiltration. Most of international building codes require minimum performance for new construction to ensure acceptable airtightness. The execution of airtightness required standards has become more challenging in recent years due to a lack of expertise and equipment, making it costly and time-consuming. Hence, researchers have developed predictive models to predict buildings infiltration rates to meet building codes and to reduce energy and cost. This research applies a theoretical modeling approach using Matlab software to predict mean infiltration rate distributions and total heat loss of Saudi Arabia’s housing stock.

Keywords: infiltration rate, energy demands, heating loss, cooling loss, carbon emissions

Procedia PDF Downloads 131

Authors: Alok Srivastava, Vidit Gupta, Aparna Singh, Chandra Sekher Yerramalli

Abstract:

Carbon-fiber epoxy composites show extremely high modulus and strength in the uniaxial direction. However, they are prone to fail under low load in transverse direction due to the weak nature of the interface between the carbon-fiber and epoxy. In the current study, we have coated graphene nano-platelets (GNPs) on the carbon-fibers in an attempt to strengthen the interface/interphase between the fiber and the matrix. Vacuum Assisted Resin Transfer Moulding (VARTM) has been used to make the laminates of eight cross-woven fabrics. Tensile, flexural and fracture toughness tests have been performed on pristine carbon-fiber composite (P-CF), GNP coated carbon-fiber composite (GNP-CF) and functionalized-GNP coated carbon-fiber composite (F-GNP-CF). The tensile strength and flexural strength values are pretty similar for P-CF and GNP-CF. The micro-structural examination of the GNP coated carbon-fibers, as well as the fracture surfaces, have been carried out using scanning electron microscopy (SEM). The micrographs reveal the deposition of GNPs onto the carbon fibers in transverse and longitudinal direction. Fracture surfaces show the debonding and pull outs of the carbon fibers in P-CF and GNP-CF samples.

Keywords: carbon fiber, graphene nanoplatelets, strength, VARTM, Vacuum Assisted Resin Transfer Moulding

Procedia PDF Downloads 120

Authors: Mehdi Ghanavati

Abstract:

The Effects of salinity level and duration on carbon isotope discrimination (Δ) of Matricaria chamomilla and Matricaria aurea were evaluated. Four ecotypes of M. chamomilla and four ecotypes of M. aurea were grown at different NaCl concentrations (control, 6, 12 and 18 dS/m) in sand culture condition. Carbon isotope discrimination (Δ) varied significantly (p<0.001) among ecotypes. The amount of carbon isotope discrimination (Δ) increased in first salinity level (6 dS/m), but in other levels (12 and 18 dS/m) it did not increase. Stages of salinity treatments (two stages: first from seedling stage until the end of the experiment and second stage of stress exertion began at stem elongation and seedlings emergence from rosette stage to harvest) had not a significant difference. Study of two spices of chamomile showed the M. aurea had a higher amount of carbon isotope discrimination (Δ) (22.9%) than M. chamomilla (22.48%).

Keywords: salinity, carbon isotope discrimination, Matricaria chamomilla, Matricaria aurea

Procedia PDF Downloads 413

Authors: Erfan Memarian, Seyyed Fazayel Alizadeh

Abstract:

This study aims to evaluate the impacts of the oil and financial markets of the United States on Iran stock exchange and to develop an ARDL model to predict the short and long-term relationship between these markets. In this regard, all 713 weekly data between 28 July 1999 and 20 March 2013 were analyzed by using Microfit4.0 and Eviews7 econometric softwares. The independent variable of the study is the “Price and Yield Index (TEDPIX)” of Tehran Stock Exchange and the independent variables include S & P 500 Index, the US three-month treasury bill rate and West Texas Intermediate oil spot price index. The results show that the West Texas Intermediate oil spot price and the S&P 500 indices have significant positive relationships with Iran's TEDPIX. Also, there exists a significant negative relationship between Iran's TEDPIX and the US three-month Treasury bill rate.

Keywords: TEDPIX; Tehran Stock Exchange; S&P 500 index; USA three-month Treasury bill rate; West Texas Intermediate oil

Procedia PDF Downloads 302

Authors: Mark Joseph Quinto, Roan Beronilla, Guiller Damian, Eliza Camaso, Ronaldo Alberto

Abstract:

Forest inventories are essential to assess the composition, structure and distribution of forest vegetation that can be used as baseline information for management decisions. Classical forest inventory is labor intensive and time-consuming and sometimes even dangerous. The use of Light Detection and Ranging (LiDAR) in forest inventory would improve and overcome these restrictions. This study was conducted to determine the possibility of using LiDAR derived data in extracting high accuracy forest biophysical parameters and as a non-destructive method for forest status analysis of San Manual, Pangasinan. Forest resources extraction was carried out using LAS tools, GIS, Envi and .bat scripts with the available LiDAR data. The process includes the generation of derivatives such as Digital Terrain Model (DTM), Canopy Height Model (CHM) and Canopy Cover Model (CCM) in .bat scripts followed by the generation of 17 composite bands to be used in the extraction of forest classification covers using ENVI 4.8 and GIS software. The Diameter in Breast Height (DBH), Above Ground Biomass (AGB) and Carbon Stock (CS) were estimated for each classified forest cover and Tree Count Extraction was carried out using GIS. Subsequently, field validation was conducted for accuracy assessment. Results showed that the forest of San Manuel has 73% Forest Cover, which is relatively much higher as compared to the 10% canopy cover requirement. On the extracted canopy height, 80% of the tree’s height ranges from 12 m to 17 m. CS of the three forest covers based on the AGB were: 20819.59 kg/20x20 m for closed broadleaf, 8609.82 kg/20x20 m for broadleaf plantation and 15545.57 kg/20x20m for open broadleaf. Average tree counts for the tree forest plantation was 413 trees/ha. As such, the forest of San Manuel has high percent forest cover and high CS.

Keywords: carbon stock, forest inventory, LiDAR, tree count

Procedia PDF Downloads 351

Authors: Xu Tao, Yilun Xu, Dingwei Xiang, Yaofei Sun

Abstract:

The practice of urban planning and construction based on the concept of the “low carbon eco-city” has been universally accepted by the academic community in response to urban issues such as population, resources, environment, and social development. Based on this, the current article first analyzes the concepts of low carbon eco-city, then builds a complex adaptive system (CAS) theory based on Chinese traditional philosophical thinking, and analyzes the adaptive relationship between material and non-material elements. A three-dimensional evaluation model of natural ecology, economic low carbon, and social harmony was constructed. Finally, the construction of a low carbon eco-city index system in Hexi Newtown of Nanjing was used as an example to verify the effectiveness of the research results; this paradigm provides a new way to achieve a low carbon eco-city system.

Keywords: complex adaptive system, low carbon ecology, index system, model

Procedia PDF Downloads 132

Authors: Ly Nguyen, Vidit Munshi

Abstract:

During the Covid-19 recession, the United States government has implemented several instruments to mitigate the impacts and revitalize the economy. This paper explores the effects of the various government policy decisions on stock returns, housing prices, and investor psychology during the pandemic in the United States. A numerous previous literature studies on this subject, yet very few focus on the context similar to what we are currently experiencing. Our monthly data covering the period from January 2019 through July 2021 were collected from Datastream. Utilizing the VAR model, we document a dynamic relationship between the market and policy actions throughout the period. In particular, the movements of Unemployment, Stock returns, and Housing prices are strongly sensitive to changes in government policies. Our results also indicate that changes in production level, stock returns, and interest rates decisions influence how investors perceived future market risk and expectations. We do not find any significant nexus between monetary and fiscal policy. Our findings imply that information on government policy and stock market performance provide useful feedback to one another in order to make better decisions in the current and future pandemic. Understanding how the market responds to a shift in government practices has important implications for authorities in implementing policy to avoid assets bubbles and market overreactions. The paper also provides useful implications for investors in evaluating the effectiveness of different policies and diversifying portfolios to minimize systematic risk and maximize returns.

Keywords: Covid-19 recession, United States, government policies, investor psychology, housing prices, stock market returns

Procedia PDF Downloads 148

Authors: Farid Habibi Tanha, Hawati Janor, Mojtaba Jahanbazi

Abstract:

The purpose of this study is to examine the effect of asymmetric information on the composition of capital inflows. This study uses the stock market microstructure to capture the asymmetric information. Such an approach allows one to capture the level and extent of the asymmetric information from a firm’s perspective. This study focuses on the two-dimensional measure of the market microstructure in capturing asymmetric information. The composition of capital inflows is measured by running six models simultaneously. By employing the panel data technique, the main finding of this research shows an increase in the asymmetric information of the stock market, in any of the two dimensions of width and depth. This leads to the reduction of foreign investments in both forms of foreign portfolio investment (FPI) and foreign direct investment (FDI), while the reduction in FPI is higher than that of the FDI. The significant effect of asymmetric information on capital inflows implicitly suggests for policymakers to control the changes of foreign capital inflows through transparency in the level of the market.

Keywords: capital flows composition, asymmetric information, stock market microstructure, foreign portfolio investment, foreign direct investment

Procedia PDF Downloads 328

Authors: Somen Mondal, Subrata Kumar Majumder

Abstract:

Removal of metal pollutants by efficient activated carbon is challenging research in the present-day scenario. In the present study, the characteristic features of an efficient activated carbon (AC) synthesized from Indian gooseberry seed shells for the copper (II) adsorption are reported. A three-step chemical activation method consisting of the impregnation, carbonization and subsequent activation is used to produce the activated carbon. The copper adsorption kinetics and isotherms onto the activated carbon were analyzed. As per present investigation, Indian gooseberry seed shells showed the BET surface area of 1359 m²/g. The maximum adsorptivity of the activated carbon at a pH value of 9.52 was found to be 44.84 mg/g at 30°C. The adsorption process followed the pseudo-second-order kinetic model along with the Langmuir adsorption isotherm. This AC could be used as a favorable and cost-effective copper (II) adsorbent in wastewater treatment to remove the metal contaminants.

Keywords: activated carbon, adsorption isotherm, kinetic model, characterization

Procedia PDF Downloads 133

Authors: Ali Akber Jaffri, Asad Naseem, Javeria Khan, Zubair Hamza, Ishtiaq

Abstract:

The purpose of this study is to determine safety stock, maximum inventory level, reordering point, and reordering quantity by rearranging lot sizes for supplier and customer in MRO (maintenance repair operations) warehouse of Engro Polymers & Chemicals. To achieve the aim, physical analysis method and excel commands were carried out to elicit the customer and supplier data provided by the company. Initially, we rearranged the current lot sizes and MOUs (measure of units) in SAP software. Due to change in lot sizes, we have to determine the new quantities for safety stock, maximum inventory, reordering point and reordering quantity as per company's demand. By proposed system, we saved extra cost in terms of reducing time of receiving from vendor and in issuance to customer, ease of material handling in MRO warehouse and also reduce human efforts.

Keywords: maintenance repair operation, maximum inventory, reorder quantity, safety stock

Procedia PDF Downloads 250

Authors: Bernhard Bauer, Thomas Meixner, Amir Dini, Detlef Heck

Abstract:

The inner city building stock is characterized by different types of buildings of different decades and centuries and different types of historical constructions. Depending on the natural growth of a city, those types are often located in downtown areas and the surrounding suburbs. Since the population is becoming older and the variation of the different social requirements spread with the so-called 'Silver Society', city quarters have to be seen alternatively. If an area is very attractive for young students to live there because of the busy nightlife, it might not be suitable for the older society. To identify 'Location Types A, B, C' for different user groups, qualitative interviews with 24 citizens of the city of Graz (Austria) have been carried out, in order to identify the most important values for making a location or city quarter 'A', 'B', or 'C'. Furthermore these acknowledgements have been put into a softwaretool for predicting locations that are the most suitable for certain user groups. On the other hands side, investors or owners of buildings can use the tool for determining the most suitable user group for the location of their building or construction project in order to adapt the project or building stock to the requirements of the users.

Keywords: building stock, location parameters, inner city population, built environment

Procedia PDF Downloads 292

Authors: Satyananda Behera, Ritwik Sarkar

Abstract:

In iron and steel industries, MgO–C refractories are widely used in basic oxygen furnaces, electric arc furnaces and steel ladles due to their excellent corrosion resistance, thermal shock resistance, and other excellent hot properties. Conventionally magnesia carbon refractories contain about 8-20 wt% of carbon but the use of carbon is also associate with disadvantages like oxidation, low fracture strength, high heat loss and higher carbon pick up in steel. So, MgO-C refractory having low carbon content without compromising the beneficial properties is the challenge. Nano carbon, having finer particles, can mix and distribute within the entire matrix uniformly and can result in improved mechanical, thermo-mechanical, corrosion and other refractory properties. Previous experiences with the use of nano carbon in low carbon MgO-C refractory have indicated an optimum range of use of nano carbon around 1 wt%. This optimum nano carbon content was used in MgO-C compositions with flaky graphite followed by aluminum and silicon metal powder as an anti-oxidant. These low carbon MgO-C refractory compositions were prepared by conventional manufacturing techniques. At the same time 16 wt. % flaky graphite containing conventional MgO-C refractory was also prepared parallel under similar conditions. The developed products were characterized for various refractory related properties. Nano carbon containing compositions showed better mechanical, thermo-mechanical properties, and oxidation resistance compared to that of conventional composition. Improvement in the properties is associated with the formation of in-situ ceramic phase-like aluminum carbide, silicon carbide, and magnesium aluminum spinel. Higher surface area and higher reactivity of N220 nano carbon black resulted in greater formation in-situ ceramic phases, even at a much lower amount. Nano carbon containing compositions were found to have improved properties in MgO-C refractories compared to that of the conventional ones at much lower total carbon content.

Keywords: N220nano carbon black, refractory properties, conventionally manufacturing techniques, conventional magnesia carbon refractories

Procedia PDF Downloads 340

Authors: Mohammad Abu Nassar, Mahmoud Al Khalilah, Hussein Abu Nassar

Abstract:

The purpose of this study is to examine whether corporate tax avoidance practices can impact firm value in the Jordanian context. The study employs a quantitative approach using s sample of (124) industrial and services companies listed on the Amman Stock Exchange for the period from 2010 to 2019. Multiple linear regression analysis has been applied to test the study's hypothesis. The study employs effective tax rate and book-tax difference to measure tax avoidance and Tobin's Q factor to measure firm value. The results of the study revealed that tax avoidance practices, when measured using effective tax rates, do not significantly impact firm value. When the book-tax difference is used to measure tax avoidance, the study results showed a negative impact on firm value. The result of the study has not supported the traditional view of tax avoidance as a transfer of wealth from the government to shareholders for industrial and services companies listed on the Amman Stock Exchange, indicating that Jordanian firms should not use tax avoidance strategies to enhance their value.

Keywords: tax avoidance, effective tax rate, book-tax difference, firm value, Amman stock exchange

Procedia PDF Downloads 126