Search results for: electricity markets

Authors: Young-Jin Baik, Minsung Kim, Junhyun Cho, Ho-Sang Ra, Young-Soo Lee, Ki-Chang Chang

Abstract:

Surplus electricity can be converted into potential energy via pumped hydroelectric storage for future usage. Similarly, thermo-electric energy storage (TEES) uses heat pumps equipped with thermal storage to convert electrical energy into thermal energy; the stored energy is then converted back into electrical energy when necessary using a heat engine. The greatest advantage of this method is that, unlike pumped hydroelectric storage and compressed air energy storage, TEES is not restricted by geographical constraints. In this study, performance variation of the TEES according to the changes in cold-side storage temperature was investigated by simulation method.

Keywords: Energy Storage System, Heat Pump.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1854

Authors: S. Saravanan, G. Sugumaran

Abstract:

Nowadays the use of Hybrid Electric Vehicles (HEV) is increasing dramatically. The HEV is mainly dependent on electricity and there is always a need for storage of charge. Fuel Cell (FC), Batteries and Ultra Capacitor are being used for the proposed HEV as an electric power source or as an energy storage unit. The aim of developing an energy management technique is to utilize the sources according to the requirement of the vehicle with help of controller. This increases the efficiency of hybrid electric vehicle to reduce the fuel consumption and unwanted emission. The Maximum Power Point Tracking (MPPT) in FC is done using (Perturb & Observe) algorithm. In this paper, the control of automobiles at variable speed is achieved effectively.

Keywords: Batteries, Energy Management System (EMS), Fuel Cell (FC), Hybrid Electric Vehicles (HEVs), Maximum Power Point Tracking (MPPT).

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3359

Authors: Abdelkarim Ait Brik, Abdelaziz Khoukh, Mustapha Jammali, Hamid Chaikhy

Abstract:

The energy audit is the essential initial step to ensure a good definition of energy control actions. The in-depth study of the various energy-consuming equipments makes it possible to determine the actions and investments with best cost for the company. The analysis focuses on the energy consumption of production equipment and utilities (lighting, heating, air conditioning, ventilation, transport). Successful implementation of this approach requires, however, to take into account a number of prerequisites. This paper proposes a number of useful recommendations concerning the energy audit in order to achieve better results, and a case study concerning the lighting audit of a Moroccan company by showing the gains that can be made through this audit.

Keywords: Energy audit, energy diagnosis, consumption, electricity, energy efficiency, lighting audit.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 945

Authors: Valeri Arghutashvili, Mari Gogochuri

Abstract:

Tourism industry development is one of the key priorities in Georgia, as it has positive influence on economic activities. Its contribution is very important for the different regions, as well as for the national economy. Benefits of the tourism industry include new jobs, service development, and increasing tax revenues, etc. The main aim of this research is to review and analyze the potential of the Georgian tourism industry with its long-term strategy and current challenges. To plan activities in a long-term development, it is required to evaluate several factors on the regional and on the national level. Factors include activities, transportation, services, lodging facilities, infrastructure and institutions. The major research contributions are practical estimates about regional tourism development which plays an important role in the integration process with global markets.

Keywords: Regional tourism, tourism industry, tourism in Georgia, tourism benefits.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 865

Authors: Jenica Ileana Corcau, Liviu Dinca

Abstract:

The electrical power systems of aircrafts have made serious progress in recent years because the aircrafts depend more and more on the electricity. There is a trend in the aircraft industry to replace hydraulic and pneumatic systems with electrical systems, achieving more comfort and monitoring features and enlarging the energetic efficiency. Thus, was born the concept More Electric Aircraft. In this paper is analyzed the integration of a fuel cell into the existing electrical generation and distribution systems of an aircraft. The dynamic characteristics of fuel cell systems necessitate an adaptation of the electrical power system. The architecture studied in this paper consists of a 50kW fuel cell, a dc to dc converter and several loads. The dc to dc converter is used to step down the fuel cell voltage from about 625Vdc to 28Vdc.

Keywords: Electrical power system, More Electric Aircraft, Fuel Cell, dc to dc converter

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2182

Authors: Y. W. Chen, H. L. Fan

Abstract:

Evidence shows that start-ups success is positively correlated with the launch of the first product. However, new ventures are seldom able to acquire abundant resources for new product development (NPD), which means that entrepreneurs may depend on personal creativity instead of physical investments to achieve and accelerate innovation speed. This study accentuates the role of entrepreneurial bricolage, which defined as making do by applying combinations of the resources at hand to new problems and opportunities, in the relations of creative self-efficacy and innovation speed. This study uses the multiple regression analysis to test the hypotheses in a sample of 203 start-ups operating in various creative markets in Taiwan. Results reveal that creative self-efficacy is positively and directly associated with innovation speed, whereas entrepreneurial bricolage plays a full mediator. These findings offer important theoretical and practical implications.

Keywords: Creative self-efficacy, innovation speed, entrepreneurial bricolage, new ventures.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2082

Authors: Yrfet Shkreli

Abstract:

Despite all the wide research and literature on the subject, changing and challenging times often present themselves with new objectives, fluid politics, and everlasting point of views. Much is said about the subject and the trend nowadays is watching every European Union (EU) intervention as a form of neo colonialism or a form of establishing new markets. The paper will try to establish a perspective on EU influences, policies and impacts analyzed from multidimensional point of view, not limiting itself on a narrow external dimension, focusing on a broader understanding of it diverse contribution to global governance and peace keeping. Tending to be critical, this paper tends to fall out of extremes, nether holding a Eurocentric position, nor falling for cheap critic to the whole failures and impact of EU policies. The ambition is to show EU as a contributing factor while keeping in mind its nature as a multi layered actor and with not necessarily coinciding interests among its member states.

Keywords: European Union, global governance, globalization, normative power.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2139

Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

Abstract:

Air Transport links markets and individuals, making regions more competitive and promoting social and economic development. The assessment of social contribution is the key objective of this paper, focusing on the definition of the components of social dimension and welfare metrics in the national scale. According to a top-down approach, the key dimensions that affect the social welfare are presented. Conventional wisdom is to provide estimations on added value to social issues caused by the air transport development and present the methodology framework for measuring the contribution of transport development in social value chain. Greece is the case study of this paper, providing results from the contribution of air transport infrastructures in national welfare. The application key findings are essential for managers and decision makers to support actions and plans towards economic recovery of an economy presenting strong seasonal characteristics (because of tourism) and suffering from recession.

Keywords: Air transport, social dimension, social coherence, resilient business development, socioeconomic impact.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 961

Authors: Hudli Mohd. Rameez, K.H.Inamdar

Abstract:

Many organisations are nowadays interested to adopt lean manufacturing strategy that would enable them to compete in this competitive globalisation market. In this respect, it is necessary to assess the implementation of lean manufacturing in different organisations so that the important best practices can be identified. This paper describes the development of key areas which will be used to assess the adoption and implementation of lean manufacturing practices. There are some key areas developed to evaluate and reduce the most optimal projects so as to enhance their production efficiency and increase the purpose of the economic benefits of the manufacturing unit. Lean manufacturing is becoming lean enterprise by treating its customers and suppliers as partners. This gives the extra edge in today-s cost and time competitive markets. The organisation is becoming strong in all the conventional competition points. They are Price, Quality and Delivery. Lean enterprise owners can deliver high quality products quickly, with low price.

Keywords: Competitive points, implementation, Leanmanufacturing, tools and techniques

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3321

Authors: M. Benbouzid, Q. Bresson, A. Duclos, K. Longo, Q. Morel

Abstract:

Currently, electricity suppliers must predict the consumption of their customers in order to deduce the power they need to produce. It is then important in a first step to optimize household consumptions to obtain more constant curves by limiting peaks in energy consumption. Here centralized real time scheduling is proposed to manage the equipments starting in parallel. The aim is not to exceed a certain limit while optimizing the power consumption across a habitat. The Raspberry Pi is used as a box; this scheduler interacts with the various sensors in 6LoWPAN. At the scale of a single dwelling, household consumption decreases, particularly at times corresponding to the peaks. However, it would be wiser to consider the use of a residential complex so that the result would be more significant. So the ceiling would no longer be fixed. The scheduling would be done on two scales, on the one hand per dwelling, and secondly, at the level of a residential complex.

Keywords: Smart grid, Energy box, Scheduling, Gang Model, Energy consumption, Energy management system, and Wireless Sensor Network.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1588

Authors: W. Ait Ahmed, M. Aggour, M. Naciri

Abstract:

Extracting energy from biomass is an important alternative to produce different types of energy (heat, electricity, or both) assuring low pollution and better efficiency. It is a new yet reliable approach to reduce green gas emission by extracting methane from industry effluents and use it to power machinery. We focused in our project on using paper and mill effluents, treated in a UASB reactor. The methane produced is used in the factory’s power supply. The aim of this work is to develop an electronic system using Arduino platform connected to a gas sensor, to measure and display the curve of daily methane production on processing. The sensor will send the gas values in ppm to the Arduino board so that the later sends the RS232 hardware protocol. The code developed with processing will transform the values into a curve and display it on the computer screen.

Keywords: Biogas, Arduino, processing, code, methane, gas sensor, program.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3549

Authors: S. K. Gupta, Richa Bansal

Abstract:

In a deregulated power system structure, power producers and customers share a common transmission network for wheeling power from the point of generation to the point of consumption. All parties in this open access environment may try to purchase the energy from the cheaper source for greater profit margins, which may lead to overloading and congestion of certain corridors of the transmission network. This may result in violation of line flow, voltage and stability limits and thereby undermine the system security. Utilities therefore need to determine adequately their available transfer capability (ATC) to ensure that system reliability is maintained while serving a wide range of bilateral and multilateral transactions. This paper presents power transfer distribution factor based on AC load flow for the determination and enhancement of ATC. The study has been carried out for IEEE 24 bus Reliability Test System.

Keywords: Available Transfer Capability, FACTS devices, Power Transfer Distribution Factors.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2360

Authors: Sibel Uzuner, Jale Acar

Abstract:

Pomegranate and pomegranate juices (PJs) have taken great attention for their health benefits in the last years. As there is an increasing concern about potential health benefits of ellagic acid, it is of great interest to evaluate alterations in ellagic acid concentration of commercial PJs. The purpose of this study is to analyze total phenolic, free and total ellagic acid content of six commercial PJs sold in Turkish markets using HPLC. The results showed that some commercial PJs had markedly high total phenolic and ellagic acid content. Total phenolic substances of commercial PJs range from 796.71 to 4608.91 mg GAE/l. Free amount of ellagic acid in commercial PJs range from 27.64 to 111.78 mg/l. Samples are hydrolyzed with concentrated HCl at 93oC for 2 and 24 hour and influences of temperature and time parameters on hydrolization were investigated. Thermal processing for pasteurization increased ellagic acid via ellagitannins hydrolysis.

Keywords: Ellagic acid, ellagitannin, pomegranate juice, total phenolic compounds

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2213

Authors: S. Sendhil Kumar, S. N. Vijayan

Abstract:

Utilization of solar energy can be found in various domestic and industrial applications. The performance of any solar collector is largely affected by various parameters such as glazing, absorber plate, top covers, and heating pipes. Technology improvements have brought us another method for conversion of solar energy to direct electricity using solar photovoltaic system. Utilization and extraction of solar energy is the biggest problem in these conversion methods. This paper aims to overcome these problems and take the advantages of available energy from solar by maximizing the utilization through solar tracking system using a refrigerant as a working medium. The use of this tracking system can help increase the efficiency of conversion devices by maximum utilization of solar energy. The dual axis tracking system gives maximum energy output compared to single axis tracking system.

Keywords: Refrigerant, solar collector, solar energy, solar panel, solar tracking.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2026

Authors: A. M. Omoare, E. O. Fakoya, B. G. Abiona, W. O. Oyediran

Abstract:

This study assessed fish marketing as panacea towards sustainable agriculture in Ogun State, Nigeria. Multi-stage sampling technique was used in the selection of 150 fish marketers for this study. Descriptive statistics were used for the objectives while Product Pearson Moment Correlation was used to test the hypothesis. Result of the findings revealed that the mean age of the respondents was 38.60 years. Majority (93.33%) of the respondents had acceptable levels of formal education. Many (44.00%) of the respondents had spent 1-5 years in fish marketing. The average quantity of fish sold in a day was 94.10kg. However, efficient fish marketing were hindered by inadequate processing equipment, storage rooms and ice holding facilities (86.67%). There was a significant relationship between socio-economic characteristics and profit realized from fish marketing (p < 0.05). It was recommended that storage and warehousing facilities should be provided to the fish marketers in the study area.

Keywords: Fish marketers, panacea, retail markets, sustainable.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2283

Authors: K. Matušínská, Z. Bednarčík, M. Klepek

Abstract:

This paper examines international marketing in business practice of Czech exporting small and medium-sized enterprises (SMEs) with regard to the strategic perspectives. Research was focused on Czech exporting SMEs from Moravian- Silesia region and their behavior on international markets. For purpose of collecting data, a questionnaire was given to 262 SMEs involved in international business. Statistics utilized in this research included frequency, mean, percentage, and chi-square test. Data were analyzed by Statistical Package for the Social Sciences software. The research analysis disclosed that there is certain space for improvement in strategic marketing especially in a marketing research, perception of cultural and social differences, product adaptation and usage of marketing communication tools.

Keywords: International Marketing, Marketing Mix, Marketing Research, Small and Medium-sized Enterprises (SMEs), Strategic Marketing.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2110

Authors: Tahmina Akhter

Abstract:

In the present work, we make a study of the repercussions of the pandemic generated by COVID-19 in the real estate market, this disease has affected almost all sectors of the economy across different countries in the world, including the real estate markets. This documentary research, basically focused on the years 2021 and 2022, as we seek to focus on the strongest time of the pandemic. We carried out the study trying to take into account the repercussions throughout the world and that is why the data we analyze take into account information from all possible continents. Particularly in the US, Europe and China, where the COVID-19 impact has been of such proportions that it has fundamentally affected the housing market for middle-class housing. In addition, the pandemic has posed risks to investments in this market, due to the fact that companies in the sector have generated losses in certain cases; in the Chinese case, Evergrande, one of the largest companies in the sector, fell into default.

Keywords: COVID-19, real estate market, statistics of COVID-19, Evergrande Real Estate.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 196

Authors: Fathi Taibi

Abstract:

The abnormal increase in the number of applications available for download in Android markets is a good indication that they are being reused. However, little is known about their real reusability potential. A considerable amount of these applications is reported as having a poor quality or being malicious. Hence, in this paper, an approach to measure the reusability potential of classes in Android applications is proposed. The approach is not meant specifically for this particular type of applications. Rather, it is intended for Object-Oriented (OO) software systems in general and aims also to provide means to discard the classes of low quality and defect prone applications from being reused directly through inheritance and instantiation. An empirical investigation is conducted to measure and rank the reusability potential of the classes of randomly selected Android applications. The results obtained are thoroughly analyzed in order to understand the extent of this potential and the factors influencing it.

Keywords: Reusability, Software Quality Factors, Software Metrics, Empirical Investigation, Object-Oriented Software, Android Applications.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1804

Authors: Syeda Maria Ali Shah, Asif Mansoor, Talat Sharafat Rehmani, Safia Mirza

Abstract:

The stock market of any country acts as a predictor of the economy. The spread of the COVID-19 pandemic has severely impacted the global financial markets. Besides, it has also critically affected the economy of Pakistan. In this study, we consider the role of the Karachi Stock Exchange (KSE) with regard to the Pakistan Stock Exchange and quantify the impact on macroeconomic variables in presence of COVID-19. The suitable macroeconomic variables are used to quantify the impact of COVID-19 by developing the stochastic model. The sufficiency of the computed model is attained by means of available techniques in the literature. The estimated equations are used to forecast the impact of pandemic on macroeconomic variables. The constructed model can help the policymakers take counteractive measures for restricting the influence of viruses on the Karachi Stock Market.

Keywords: COVID-19, Karachi Stock Market, macroeconomic variables, stochastic model, forecasting.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 738

Authors: Namrata Mishra

Abstract:

Health of a person plays a vital role in the collective health of his community and hence the well-being of the society as a whole. But, in today’s fast paced technology driven world, health issues are increasingly being associated with human behaviors – their lifestyle. Social networks have tremendous impact on the health behavior of individuals. Many researchers have used social network analysis to understand human behavior that implicates their social and economic environments. It would be interesting to use a similar analysis to understand human behaviors that have health implications. This paper focuses on concepts of those behavioural analyses that have health implications using social networks analysis and provides possible algorithmic approaches. The results of these approaches can be used by the governing authorities for rolling out health plans, benefits and take preventive measures, while the pharmaceutical companies can target specific markets, helping health insurance companies to better model their insurance plans.

Keywords: Health behaviors, social network analysis, directed graph, breadth first search.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1909

Authors: Faisal Al Yahmadi, Muhammad R. Ahmed

Abstract:

Electric power is a fundamental necessity in the 21^st century. Consequently, any break in electric power is probably going to affect the general activity. To make the power supply smooth and efficient, a smart grid network is introduced which uses communication technology. In any communication network, security is essential. It has been observed from several recent incidents that adversary causes an interruption to the operation of networks. In order to resolve the issues, it is vital to understand the threats and vulnerabilities associated with the smart grid networks. In this paper, we have investigated the threats and vulnerabilities in Smart Grid Networks (SGN) and the few solutions in the literature. Proposed solutions showed developments in electricity theft countermeasures, Denial of services attacks (DoS) and malicious injection attacks detection model, as well as malicious nodes detection using watchdog like techniques and other solutions.

Keywords: Smart grid network, security, threats, vulnerabilities.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 602

Authors: K. Y. You, Y. L. Then

Abstract:

In recent years, the hair building fiber has become popular, in other words, it is an effective method which helps people who suffer hair loss or sparse hair since the hair building fiber is capable to create a natural look of simulated hair rapidly. In the markets, there are a lot of hair fiber brands that have been designed to formulate an intense bond with hair strands and make the hair appear more voluminous instantly. However, those products have their own set of properties. Thus, in this report, some measurement techniques are proposed to identify those products. Up to five different brands of hair fiber are tested. The electrostatic and dielectric properties of the hair fibers are macroscopically tested using design DC and high frequency microwave techniques. Besides, the hair fibers are microscopically analysis by magnifying the structures of the fiber using scanning electron microscope (SEM). From the SEM photos, the comparison of the uniformly shaped and broken rate of the hair fibers in the different bulk samples can be observed respectively.

Keywords: Hair fiber, electrostatic, dielectric properties, broken rate, microwave techniques.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3876

Authors: Pushkar Umaranikar, Chris Pollett

Abstract:

An online advertisement system and its implementation for the Yioop open source search engine are presented. This system supports both selling advertisements and displaying them within search results. The selling of advertisements is done using a system to auction off daily impressions for keyword searches. This is an open, ascending price auction system in which all accepted bids will receive a fraction of the auctioned day’s impressions. New bids in our system are required to be at least one half of the sum of all previous bids ensuring the number of accepted bids is logarithmic in the total ad spend on a keyword for a day. The mechanics of creating an advertisement, attaching keywords to it, and adding it to an advertisement inventory are described. The algorithm used to go from accepted bids for a keyword to which ads are displayed at search time is also presented. We discuss properties of our system and compare it to existing auction systems and systems for selling online advertisements.

Keywords: Online markets, online ad system, online auctions, search engines.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1365

Authors: Alireza Dehghani Pilehvarani, Mojtaba Hakimzadeh, Mohammad Jafari Far, Reza Sedaghati

Abstract:

Distributed Generation (DG) can help in reducing the cost of electricity to the costumer, relieve network congestion and provide environmentally friendly energy close to load centers. Its capacity is also scalable and it provides voltage support at distribution level. Hence, DG placement and penetration level is an important problem for both the utility and DG owner. DG allocation and capacity determination is a nonlinear optimization problem. The objective function of this problem is the minimization of the total loss of the distribution system. Also high levels of penetration of DG are a new challenge for traditional electric power systems. This paper presents a new methodology for the optimal placement of DG and penetration level of DG in distribution system based on General Algebraic Modeling System (GAMS) and Genetic Algorithm (GA).

Keywords: Distributed Generation, Location, Loss Reduction, Distribution Network, GA, GAMS.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2635

Authors: Stefanos V. Fotopoulos, Harry V. Papapanagos, Fotios M. Siokis

Abstract:

This paper tries to shed light on the existence of a bank lending channel (BLC) in South Eastern European countries (SEE). Based on a VAR framework we test the responsiveness of credit supply to monetary policy shocks. By compiling a new data set and using the reserve requirement ratio, among others, as the policy instrument we measure the effectiveness of the BLC and the buffering effect of the banks in the SEE countries. The results indicate that loan supply is significantly affected by shifts in monetary policy, when demand factors are controlled. Furthermore, by analyzing the effect of the Greek banks in the region we conclude that Greek banks do buffer the negative effects of monetary policy transmission. By having a significant market share of the SEE-s banking markets we argue that Greek banks influence positively the economic growth of SEE countries.

Keywords: Bank Lending Channel, Monetary Policy Transmission, Policy Buffering, South Eastern Europe

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1695

Authors: Isabel Díez Vial, Marta Fernández Olmoss

Abstract:

This research tries to analyze the role that knowledge about foreign markets has in increasing firms- exports in clustered spaces. We consider two interrelated sources of knowledge: firms- direct experience and indirect experience from other clustered firms – export externalities. In particular, it is proposed that firms would improve their export performance by accessing to export externalities if they have some previous direct experience that allows them to identify, understand and exploit them. Also, we propose that this positive influence of previous direct experience on export externalities keeps only up to a point, where it becomes negative, creating an inverted “U" shape. Empirical evidence gathered among wine producers located in La Rioja tends to confirm that firms enjoy of export externalities if they have export experience along several years and countries increase their export performance. While this relationship becomes less relevant as they develop a higher experience, we could not confirm the existence of a curvilinear relationship in their influence on export externalities and export performance.

Keywords: Clusters, curvilinear relationship, absorptive capacity

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1307

Authors: Pei. P. Tan, Don. U.A. Galagedera, Elizabeth A.Maharaj

Abstract:

This paper examines predictability in stock return in developed and emergingmarkets by testing long memory in stock returns using wavelet approach. Wavelet-based maximum likelihood estimator of the fractional integration estimator is superior to the conventional Hurst exponent and Geweke and Porter-Hudak estimator in terms of asymptotic properties and mean squared error. We use 4-year moving windows to estimate the fractional integration parameter. Evidence suggests that stock return may not be predictable indeveloped countries of the Asia-Pacificregion. However, predictability of stock return insome developing countries in this region such as Indonesia, Malaysia and Philippines may not be ruled out. Stock return in the Thailand stock market appears to be not predictable after the political crisis in 2008.

Keywords: Asia-Pacific stock market, long-memory, return predictability, wavelet

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1734

Authors: Ioannis P. Panapakidis, Marios N. Moschakis

Abstract:

The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: Deregulated energy market, forecasting, machine learning, system marginal price, energy efficiency and quality.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1315

Authors: G. Erkomaishvili, R. Gvelesiani, E. Kharaishvili, M. Chavleishvili

Abstract:

The topic reviews the situation existing currently in Georgia in the field of tourism in conditions of globalization: Touristic resources, the paces of development of the tourism infrastructure, tourism policy, possibilities of development of the Wellness industry in Georgia, that is the newest direction of the medical tourism. The factors impeding the development of the industry of tourism, namely – existence of the conflict zones, high rates of the bank credits, deficiencies associated with the tax laws, a level of infrastructural development, quality of services, deficit in the competitive staff, increase of prices in the peak seasons, insufficient promotion of the touristic opportunities of Georgia on the international markets are studied and analyzed. Besides, the level of development of tourism in Georgia according to the World Economic Forum, aspects of cooperation with the European Union, etc., is reviewed. As a result of these studies, a strategy of development of tourism and one of its direction – Wellness industry in Georgia, is introduced with the relevant conclusions, on which basis the recommendations are provided.

Keywords: Tourism, Tourism Policy, Wellness Industry.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2854

Authors: Young Sik Kim, Tae Kwon Ha

Abstract:

This article considers the problems of economic growth and Russian energy strategy. Also in this paper, the issues related to the economic growth prospects of Russian were discussed. Russian energy strategy without standing Russia`s stature in global energy markets, at the current production and extraction rates, will not be able to sustain its own production as well as fulfil its energy strategy. Indeed, Russia’s energy sector suffers from a chronic lack of investments which are necessary to modernize its energy supply system. In recent years, especially since the international financial crisis, Russia-EU energy cooperation has made substantive progress. Recently the break-through progress has been made, resulting mainly from long-term contributing factors between the countries and recent international economic and political situation changes. Analytical material presented in the article is intended for a more detailed or substantive analysis related to foreign economic relations of the countries and Russia as well.

Keywords: Russia, Energy strategy, Economic growth, Cooperation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1760