Search results for: Foreign Direct Investments

Authors: Roman Ružarovský, Radovan Holubek, Daynier Rolando Delgado Sobrino

Abstract:

Currently is characterized production engineering together with the integration of industrial automation and robotics such very quick view of to manufacture the products. The production range is continuously changing, expanding and producers have to be flexible in this regard. It means that need to offer production possibilities, which can respond to the quick change. Engineering product development is focused on supporting CAD software, such systems are mainly used for product design. That manufacturers are competitive, it should be kept procured machines made available capable of responding to output flexibility. In response to that problem is the development of flexible manufacturing systems, consisting of various automated systems. The integration of flexible manufacturing systems and subunits together with product design and of engineering is a possible solution for this issue. Integration is possible through the implementation of CIM systems. Such a solution and finding a hyphen between CAD and procurement system ICIM 3000 from Festo Co. is engaged in the research project and this contribution. This can be designed the products in CAD systems and watch the manufacturing process from order to shipping by the development of methods and processes of integration, This can be modeled in CAD systems products and watch the manufacturing process from order to shipping to develop methods and processes of integration, which will improve support for product design parameters by monitoring of the production process, by creating of programs for production using the CAD and therefore accelerates the a total of process from design to implementation.

Keywords: CAD- Computer Aided Design, CAM- Computer Aided Manufacturing, CIM- Computer integrated manufacturing, iCIM 3000, integration, direct production from CAD.

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Authors: Arūnas Burinskas

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Although Europe is on the threshold of a new industrial revolution called Industry 4.0, many believe that this will increase the flexibility of production, the mass adaptation of products to consumers and the speed of their service; it will also improve product quality and dramatically increase productivity. However, as expected, all the benefits of Industry 4.0 face many of the inevitable changes and challenges they pose. One of them is the inevitable transformation of current competition and business models. This article examines the possible results of competitive conversion from the classic Bertrand and Cournot models to qualitatively new competition based on innovation. Ability to deliver a new product quickly and the possibility to produce the individual design (through flexible and quickly configurable factories) by reducing equipment failures and increasing process automation and control is highly important. This study shows that the ongoing transformation of the competition model is changing the game. This, together with the creation of complex value networks, means huge investments that make it particularly difficult for small and medium-sized enterprises. In addition, the ongoing digitalization of data raises new concerns regarding legal obligations, intellectual property, and security.

Keywords: Bertrand and Cournot Competition, competition model, Industry 4.0, industrial organization, monopolistic competition.

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Authors: Mara Gubaidullina, Aigerim Yelibayeva

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The Shanghai Cooperation Organization is one of the successful outcomes of China's foreign policy since the end of the Cold war. The expansion of multilateral ties all over the world by dint of pursuing institutional strategies as SCO, identify China as a more constructive power. SCO became a new model of cooperation that was formed on remains of collapsed Soviet system, and predetermined China's geopolitical role in the region. As the fast developing effective regional mechanism, SCO today has more of external impact on the international system and forms a new type of interaction for promoting China's grand strategy of 'peaceful rise'.

Keywords: Central Asia, China's grand strategy, Shanghai Cooperation Organization.

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Authors: Carlos F. Liard-Muriente

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The purpose of this paper is to shed light on the controversial subject of tax incentives to promote regional development. Although extensive research has been conducted, a review of the literature gives an inconclusive answer to whether economic incentives are effective. One reason is the fact that for some researchers “effective" means the significant location of new firms in targeted areas, while for others the creation of jobs regardless if new firms are arriving in a significant fashion. We present this dichotomy by analyzing a tax incentive program via both alternatives: location and job creation. The contribution of the paper is to inform policymakers about the potential opportunities and pitfalls when designing incentive strategies. This is particularly relevant, given that both the US and Europe have been promoting incentives as a tool for regional economic development.

Keywords: Employment, Foreign Investment, Tax Incentives.

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Authors: Okolo Chimaobi Valentine

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This paper seeks to assess the implications of bank consolidation on the performance of small and medium scale enterprises in the Nigerian economy. Multiple linear regression technique and correlation matrix test were employed to measure the extent to which small and medium scale enterprises asset size, survival and access to credit were influenced. The result showed that bank deposit (BD) and bank credit (L or BC) impacted on asset size and survival of small and medium scale enterprises. None of the variables had significant impact on SMEs access to credit. There is a shift of focus by commercial banks away from small and medium scale enterprises (small customers), which is evidenced by the significant negative influence of bank credit to both the survival and asset size of small and medium enterprises. While micro finance banks work hard at providing funds to small and medium scale entrepreneurs, their capacity to meet the needs of these entrepreneurs is constrained. CBN should make policies that will boost micro finance bank’s capital and also monitor closely the management of the banks to ensure prudent financing of small and medium scale investments.

Keywords: Bank consolidation, small and medium enterprises.

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Authors: Gholamreza Momenzadeh, Forough Nematolahi

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The Extended Enterprise Resource Planning (ERPII) system usually requires massive amounts of storage space, powerful servers, and large upfront and ongoing investments to purchase and manage the software and the related hardware which are not affordable for organizations. In recent decades, organizations prefer to adapt their business structures with new technologies for remaining competitive in the world economy. Therefore, cloud computing (which is one of the tools of information technology (IT)) is a modern system that reveals the next-generation application architecture. Also, cloud computing has had some advantages that reduce costs in many ways such as: lower upfront costs for all computing infrastructure and lower cost of maintaining and supporting. On the other hand, traditional ERPII is not responding for huge amounts of data and relations between the organizations. In this study, based on a literature study, ERPII is investigated in the context of cloud computing where the organizations operate more efficiently. Also, ERPII conditions have a response to needs of organizations in large amounts of data and relations between the organizations.

Keywords: Extended enterprise resource planning, cloud computing, business process, enterprise information integration.

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Authors: Henri El Zakhem, Christina Romanos, Charlie Bakhos, Hassan Chahal, Jessica Koura

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Squalene is a valuable component of the oil composed of 30 carbon atoms and is mainly used for cosmetic materials. The main concern of this article is to study the Squalene composition in the Lebanese olive oil and to compare it with foreign oil results. To our knowledge, extraction of Squalene from the Lebanese olive oil has not been conducted before. Three different techniques were studied and experiments were performed on three brands of olive oil, Al Wadi Al Akhdar, Virgo Bio and Boulos. The techniques performed are the Fractional Crystallization, the Soxhlet and the Esterification. By comparing the results, it is found that the Lebanese oil contains squalene and Soxhlet method is the most effective between the three methods extracting about 6.5E-04 grams of Squalene per grams of olive oil.

Keywords: Squalene, extraction, crystallization, Soxhlet.‎

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Authors: Mohanad Hammad

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Port institutions serve as a link connecting the land areas that receive the goods and the areas from where ships sail. These areas hold great significance for the conversion of goods into commodities of economic value, capable of meeting the needs of the society. Development of ports constitutes a fundamental component of the comprehensive economic development process. Recognizing this fact, developing countries have always resorted to this infrastructural element to resolve the numerous problems they face, taking into account its contribution to the reformation of their economic conditions. Iraqi ports have played a major role in boosting the commercial movement in Iraq, as they are the starting point of its oil exports and a key constituent in fulfilling the consumer and production needs of the various economic sectors of Iraq. With the Gulf wars and the economic blockade, Iraqi ports have continued to deteriorate and become unable to perform their functions as first-generation ports, prompting Iraq to use the ports of neighboring countries such as Jordan's Aqaba commercial port. Meanwhile, Iraqi ports face strong competition from the ports of neighboring countries, which have achieved progress and advancement as opposed to the declining performance and efficiency of Iraqi ports. The great developments in the economic conditions of Iraq lay a too great burden on the Iraqi maritime transport and ports, which require development in order to be able to meet the challenges arising from the fierce international and regional competition in the markets. Therefore, it is necessary to find appropriate solutions in support of the role that can be played by Iraqi ports in serving Iraq's foreign trade transported by sea and in keeping up with the development of foreign trade. Thus, this research aims at tackling the current situation of the Iraqi ports and their commercial activity and studying the problems and obstacles they face. The research also studies the future prospects of these ports, the potentials of maritime openness to Iraq under the fierce competition of neighboring ports, and the possibility of enhancing Iraqi ports’ competitiveness. Among the results produced by this research is the future scenario it proposes for Iraqi ports, mainly represented in the establishment of Al-Faw Port, which will contribute to a greater openness of maritime transport in Iraq, and the rehabilitation and expansion of existing ports. This research seeks to develop solutions to Iraq ports so that they can be repositioned as a vital means of promoting economic development.

Keywords: Transport, port, regional openness, development.

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Authors: Simeon Karafolas, Maciej Woźniak

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Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds.Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources.Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund.The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.

Keywords: DIFASS, financing, grants, SMEs.

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Authors: E. Krasnova, E. Bulgakova, V. Shchemelinin

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The paper deals with acoustic-spectrographic voice identification method in terms of its performance in non-native language speech. Performance evaluation is conducted by comparing the result of the analysis of recordings containing native language speech with recordings that contain foreign language speech. Our research is based on Tajik and Russian speech of Tajik native speakers due to the character of the criminal situation with drug trafficking. We propose a pilot experiment that represents a primary attempt enter the field.

Keywords: Speaker identification, acoustic-spectrographic method, non-native speech.

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Authors: Yang Chengmei

Abstract:

In this paper, taking Chinese Nanjing Metro ALSTOM vehicle synthesis brake as an example, the subway with synthetic brake shoe formula components of final product performance, has done a lot of research and performance test, final is drawn with hybrid fiber as reinforcing material, modified phenolic resin as matrix material, and then filling friction modifier performance, by the hot pressing process made a new type of domestic subway brake shoe. The product of the test performance indicators that can replace the similar foreign products.

Keywords: Metro, synthetic brake shoe, component analysis, formula research.

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Authors: Mehrdad Abkenari, Alireza Rezaei, Naghmeh Pournayeb

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There have recently been many studies and investments in developed and developing countries regarding the possibility of recycling construction waste, which are still ongoing. Since the term 'construction waste' covers a vast spectrum of materials in constructing buildings, roads and etc., many investigations are required to measure their technical performance in use as well as their time and place of use. Concrete is among the major and fundamental materials used in current construction industry. Along with the rise of population in developing countries, it is desperately required to meet the people's primary need in construction industry and on the other hand, dispose existing wastes for reducing the amount of environmental pollutants. Restrictions of natural resources and environmental pollution are the most important problems encountered by civil engineers. Reusing construction waste is an important and economic approach that not only assists the preservation of environment but also, provides us with primary raw materials. In line with consistent municipal development in disposal and reuse of construction waste, several approaches including, management of construction waste and materials, materials recycling and innovation and new inventions in materials have been predicted. This article has accordingly attempted to study the activities related to recycling of construction wastes and then, stated the economic, quantitative, qualitative and environmental results obtained.

Keywords: Civil engineering, environment, recycling, construction waste.

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Authors: Parham Azimi, Mohammad Reza Ghanbari

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The dramatic increasing of sea-freight container transportations and the developing trends for using containers in the multimodal handling systems through the sea, rail, road and land in nowadays market cause general managers of container terminals to face challenges such as increasing demand, competitive situation, new investments and expansion of new activities and need to use new methods to fulfil effective operations both along quayside and within the yard. Among these issues, minimizing the turnaround time of vessels is considered to be the first aim of every container port system. Regarding the complex structure of container ports, this paper presents a simulation model that calculates the number of trucks needed in the Iranian Shahid Rajaee Container Port for handling containers between the berth and the yard. In this research, some important criteria such as vessel turnaround time, gantry crane utilization and truck utilization have been considered. By analyzing the results of the model, it has been shown that increasing the number of trucks to 66 units has a significant effect on the performance indices of the port and can increase the capacity of loading and unloading up to 10.8%.

Keywords: Container Terminal, Gantry Crane Utilization, Simulation, Vessel Turnaround Time

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Authors: Seyed Saeid Tabaee, Omid Bahar

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Nowadays, energy dissipation devices are commonly used in structures. High rate of energy absorption during earthquakes is the benefit of using such devices, which results in damage reduction of structural elements, specifically columns. The hysteretic damping capacity of energy dissipation devices is the key point that it may adversely make analysis and design process complicated. This effect may be generally represented by Equivalent Viscous Damping (EVD). The equivalent viscous damping might be obtained from the expected hysteretic behavior regarding to the design or maximum considered displacement of a structure. In this paper, the hysteretic damping coefficient of a steel Moment Resisting Frame (MRF), which its performance is enhanced by a Buckling Restrained Brace (BRB) system has been evaluated. Having foresight of damping fraction between BRB and MRF is inevitable for seismic design procedures like Direct Displacement-Based Design (DDBD) method. This paper presents an approach to calculate the damping fraction for such systems by carrying out the dynamic nonlinear time history analysis (NTHA) under harmonic loading, which is tuned to the natural system frequency. Two MRF structures, one equipped with BRB and the other without BRB are simultaneously studied. Extensive analysis shows that proportion of each system damping fraction may be calculated by its shear story portion. In this way, contribution of each BRB in the floors and their general contribution in the structural performance may be clearly recognized, in advance.

Keywords: Buckling restrained brace, Direct displacement based design, Dual systems, Hysteretic damping, Moment resisting frames.

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Authors: Ali E. Abbas

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Industrial Engineering is a broad multidisciplinary field with intersections and applications in numerous areas. When designing a product, it is important to determine the appropriate attributes of value and the preference function for which the product is optimized. This paper provides some guidelines on appropriate selection of attributes for preference and value functions for engineering design.

Keywords: Decision analysis, engineering design, direct vs. indirect values.

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Authors: Reyna Singh, David Lokhat, Milan Carsky

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The world crude oil demand is projected to rise to 108.5 million bbl/d by the year 2035. With reserves estimated at 869 billion tonnes worldwide, coal remains an abundant resource. The aim of this work was to produce a high value hydrocarbon liquid product using a Direct Coal Liquefaction (DCL) process at, relatively mild operating conditions. Via hydrogenation, the temperature-staged approach was investigated in a dual reactor lab-scale pilot plant facility. The objectives included maximising thermal dissolution of the coal in the presence of tetralin as the hydrogen donor solvent in the first stage with 2:1 and 3:1 solvent: coal ratios. Subsequently, in the second stage, hydrogen saturation, in particular, hydrodesulphurization (HDS) performance was assessed. Two commercial hydrotreating catalysts were investigated viz. NickelMolybdenum (Ni-Mo) and Cobalt-Molybdenum (Co-Mo). GC-MS results identified 77 compounds and various functional groups present in the first and second stage liquid product. In the first stage 3:1 ratios and liquid product yields catalysed by magnetite were favoured. The second stage product distribution showed an increase in the BTX (Benzene, Toluene, Xylene) quality of the liquid product, branched chain alkanes and a reduction in the sulphur concentration. As an HDS performer and selectivity to the production of long and branched chain alkanes, Ni-Mo had an improved performance over Co-Mo. Co-Mo is selective to a higher concentration of cyclohexane. For 16 days on stream each, Ni-Mo had a higher activity than Co-Mo. The potential to cover the demand for low–sulphur, crude diesel and solvents from the production of high value hydrocarbon liquid in the said process, is thus demonstrated. 

Keywords: Catalyst, coal, liquefaction, temperature-staged.

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Authors: Kateřina Struhařová

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The paper gives the evidence of quality of accounting information of Czech private companies. In general the private companies in the Czech Republic do not see the benefits of providing accounting information of high quality. Based on the research of financial statements of entrepreneurs and companies in Zlin region it was confirmed that the quality of accounting information differs among the private entities and that the major impact on the accounting information quality has the fact if the financial statements are audited as well as the size of the entity. Also the foreign shareholders and lenders have some impact on the accounting information quality.

Keywords: Accounting information quality, Financial Statements, Czech Republic.

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Authors: Rihab Hamdi, Amel Hadri Hamida, Fatiha Khelili, Sakina Zerouali, Ouafae Bennis

Abstract:

This paper features a comparative study performance of sliding mode controller (SMC) for closed-loop voltage control of direct current to direct current (DC-DC) three-cells buck converter connected in parallel, operating in continuous conduction mode (CCM), based on pulse-width modulation (PWM) with SMC based on hysteresis modulation (HM) where an adaptive feedforward technique is adopted. On one hand, for the PWM-based SM, the approach is to incorporate a fixed-frequency PWM scheme which is effectively a variant of SM control. On the other hand, for the HM-based SM, oncoming an adaptive feedforward control that makes the hysteresis band variable in the hysteresis modulator of the SM controller in the aim to restrict the switching frequency variation in the case of any change of the line input voltage or output load variation are introduced. The results obtained under load change, input change and reference change clearly demonstrates a similar dynamic response of both proposed techniques, their effectiveness is fast and smooth tracking of the desired output voltage. The PWM-based SM technique has greatly improved the dynamic behavior with a bit advantageous compared to the HM-based SM technique, as well as provide stability in any operating conditions. Simulation studies in MATLAB/Simulink environment have been performed to verify the concept.

Keywords: Sliding mode control, pulse-width modulation, hysteresis modulation, DC-DC converter, parallel multi-cells converter, robustness.

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

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

Keywords: Asset allocation, asset performance, sukuk, zero beta asset.

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Authors: Shahana T. K., Babita R. Jose, K. Poulose Jacob, Sreela Sasi

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The modern telecommunication industry demands higher capacity networks with high data rate. Orthogonal frequency division multiplexing (OFDM) is a promising technique for high data rate wireless communications at reasonable complexity in wireless channels. OFDM has been adopted for many types of wireless systems like wireless local area networks such as IEEE 802.11a, and digital audio/video broadcasting (DAB/DVB). The proposed research focuses on a concatenated coding scheme that improve the performance of OFDM based wireless communications. It uses a Redundant Residue Number System (RRNS) code as the outer code and a convolutional code as the inner code. Here, a direct conversion of analog signal to residue domain is done to reduce the conversion complexity using sigma-delta based parallel analog-to-residue converter. The bit error rate (BER) performances of the proposed system under different channel conditions are investigated. These include the effect of additive white Gaussian noise (AWGN), multipath delay spread, peak power clipping and frame start synchronization error. The simulation results show that the proposed RRNS-Convolutional concatenated coding (RCCC) scheme provides significant improvement in the system performance by exploiting the inherent properties of RRNS.

Keywords: Analog-to-residue converter, Concatenated codes, OFDM, Redundant Residue Number System, Sigma-delta modulator, Wireless communication

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Authors: V. Boguslauskas, G. Jakstonyte, L. Giriunas

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Many foreign and Lithuanian scientists, analyzing the evaluation of the tax system in respect of the burden of taxation, agree that the latter, in principle, depends on how many individuals and what units of the residents constitute a household. Therefore, the aim of scientific research is to substantiate or to deny the significance of a household, but not a resident, as a statistical unit, during the evaluation of tax system, to be precise, determination of the value of the burden of taxation. A performed scientific research revealed that evaluation of the tax system in respect of a household, but not a resident, as a statistical unit, allows not only to evaluate the efficiency of the tax system more objectively, but also to forecast practicably existing poverty line, burden of taxation, and to capacitate the initiation of efficient decisions in social and tax fields creating the environment of existence.

Keywords: burden of taxation, household, tax systemevaluation.

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Authors: Anjali Chatterjee, Nirmal Kumar Roy

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Economically transformers constitute one of the largest investments in a Power system. For this reason, transformer condition assessment and management is a high priority task. If a transformer fails, it would have a significant negative impact on revenue and service reliability. Monitoring the state of health of power transformers has traditionally been carried out using laboratory Dissolved Gas Analysis (DGA) tests performed at periodic intervals on the oil sample, collected from the transformers. DGA of transformer oil is the single best indicator of a transformer-s overall condition and is a universal practice today, which started somewhere in the 1960s. Failure can occur in a transformer due to different reasons. Some failures can be limited or prevented by maintenance. Oil filtration is one of the methods to remove the dissolve gases and prevent the deterioration of the oil. In this paper we analysis the DGA data by regression method and predict the gas concentration in the oil in the future. We bring about a comparative study of different traditional methods of regression and the errors generated out of their predictions. With the help of these data we can deduce the health of the transformer by finding the type of fault if it has occurred or will occur in future. Additional in this paper effect of filtration on the transformer health is highlight by calculating the probability of failure of a transformer with and without oil filtrating.

Keywords: Power Transformers, Dissolve gas Analysis, Regression method, Filtration, oil.

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Authors: Riham A. Ragheb, Ingy M. Naguib

Abstract:

Conservation and urban investment are a prerequisite to improve the quality of life. Since the historic street is a part of the economic system, it should be able to play an important role in the city development by upgrading all services, public open spaces and reuse of historical buildings and sites. Furthermore, historical conservation enriches the political, economic, social, cultural and functional aspects of the site. Rosetta has been selected as an area of study because it has a unique character due to its possession of a variety of monuments and historical buildings. The aim of this research is to analyze the existing situation of an historic street named El Sheikh Kandil, to be able to identify the potentials and problems. The paper gives a proposal for the redesign and reinvestment of the street and the reuse for the historical buildings to serve the community, users and visitors. Then, it concludes with recommendations to improve quality of life through the rehabilitation of the historical buildings and strengthening of the cultural and historical identity of the street. Rosetta city can benefit from these development proposals by preserving and revitalizing its unique character which leads to tourism development and benefits from the new investments.

Keywords: Adaptive reuse, heritage street, historic investment, restoration, urban design.

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Authors: Merab Khokhobaia

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Within the framework of this research, the regulatory documents, which are in force in relation to this industry, were analyzed. The main attention is turned to their modernization and necessity of their compliance with European standards. It is a current issue to direct the efforts of state policy on support of business by implementing infrastructural projects, as well as by development of human resources, which may be possible by supporting the relevant higher and vocational studying-educational programs.

Keywords: Regional Development, Tourism Industry, Tourism Policy, Transition.

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Authors: T. Aydin, M. F. Alaeddinoglu

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People, throughout the history, have made estimates and inferences about the future by using their past experiences. Developing information technologies and the improvements in the database management systems make it possible to extract useful information from knowledge in hand for the strategic decisions. Therefore, different methods have been developed. Data mining by association rules learning is one of such methods. Apriori algorithm, one of the well-known association rules learning algorithms, is not commonly used in spatio-temporal data sets. However, it is possible to embed time and space features into the data sets and make Apriori algorithm a suitable data mining technique for learning spatiotemporal association rules. Lake Van, the largest lake of Turkey, is a closed basin. This feature causes the volume of the lake to increase or decrease as a result of change in water amount it holds. In this study, evaporation, humidity, lake altitude, amount of rainfall and temperature parameters recorded in Lake Van region throughout the years are used by the Apriori algorithm and a spatio-temporal data mining application is developed to identify overflows and newlyformed soil regions (underflows) occurring in the coastal parts of Lake Van. Identifying possible reasons of overflows and underflows may be used to alert the experts to take precautions and make the necessary investments.

Keywords: Apriori algorithm, association rules, data mining, spatio-temporal data.

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Authors: Edikan E. Akpanibah, Okwigbedi Oghen’Oro

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In this paper, we studied the optimal portfolio selection in a defined contribution (DC) pension scheme with multiple contributors under constant elasticity of variance (CEV) model and the impact of stochastic additional voluntary contribution on the investment strategies. We assume that the voluntary contributions are stochastic and also consider investments in a risk free asset and a risky asset to increase the expected returns of the contributing members. We derived a stochastic differential equation which consists of the members’ monthly contributions and the invested fund and obtained an optimized problem with the help of Hamilton Jacobi Bellman equation. Furthermore, we find an explicit solution for the optimal investment strategy with stochastic voluntary contribution using power transformation and change of variables method and the corresponding optimal fund size was obtained. We discussed the impact of the voluntary contribution on the optimal investment strategy with numerical simulations and observed that the voluntary contribution reduces the optimal investment strategy of the risky asset.

Keywords: DC pension fund, Hamilton-Jacobi-Bellman, optimal investment strategies, power transformation method, stochastic, voluntary contribution.

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Authors: Julinda Keçi

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In many countries, governments have been promoting the involvement of private sector entities to enter into long-term agreements for the development and delivery of large infrastructure projects, with a focus on overcoming the limitations upon public fund of the traditional approach. The involvement of private sector through public private partnerships (PPP) brings in new capital investments, value for money and additional risks to handle. Worldwide research studies have shown that an objective, systematic, reliable and useroriented risk assessment process and an optimal allocation mechanism among different stakeholders is crucial to the successful completion. In this framework, this paper, which is the first stage of a research study, aims to identify the main risks for the delivery of PPP projects. A review of cross-countries research projects and case studies was performed to map the key risks affecting PPP infrastructure delivery. The matrix of mapping offers a summary of the frequency of factors, clustered in eleven categories: construction, design, economic, legal, market, natural, operation, political, project finance, project selection and relationship. Results will highlight the most critical risk factors, and will hopefully assist the project managers in directing the managerial attention in the further stages of risk allocation.

Keywords: Construction, infrastructure, public private partnerships, risks.

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Authors: D. Lingaraju, K. Ramji, M. Pramiladevi, U. Rajyalakshmi

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Exploding concentrated underwater charges to damage underwater structures such as ship hulls is a part of naval warfare strategies. Adding small amounts of foreign particles (like clay or silica) of nanosize significantly improves the engineering properties of the polymers. In the present work the clay in terms 1, 2 and 3 percent by weight was surface treated with a suitable silane agent. The hybrid nanocomposite was prepared by the hand lay-up technique. Mathematical regression models have been employed for theoretical prediction. This will result in considerable savings in terms of project time, effort and cost.

Keywords: ANOVA, clay, halloysite, nanocomposites, underwater shock, regression, silica.

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Authors: Rohollah. Abdollahi, Alireza. Jalilian

Abstract:

This paper presents a pulse doubling technique in a 12-pulse ac-dc converter which supplies direct torque controlled motor drives (DTCIMD-s) in order to have better power quality conditions at the point of common coupling. The proposed technique increases the number of rectification pulses without significant changes in the installations and yields in harmonic reduction in both ac and dc sides. The 12-pulse rectified output voltage is accomplished via two paralleled six-pulse ac-dc converters each of them consisting of three-phase diode bridge rectifier. An autotransformer is designed to supply the rectifiers. The design procedure of magnetics is in a way such that makes it suitable for retrofit applications where a six-pulse diode bridge rectifier is being utilized. Independent operation of paralleled diode-bridge rectifiers, i.e. dc-ripple re-injection methodology, requires a Zero Sequence Blocking Transformer (ZSBT). Finally, a tapped interphase reactor is connected at the output of ZSBT to double the pulse numbers of output voltage up to 24 pulses. The aforementioned structure improves power quality criteria at ac mains and makes them consistent with the IEEE-519 standard requirements for varying loads. Furthermore, near unity power factor is obtained for a wide range of DTCIMD operation. A comparison is made between 6- pulse, 12-pulse, and proposed converters from view point of power quality indices. Results show that input current total harmonic distortion (THD) is less than 5% for the proposed topology at various loads.

Keywords: AC–DC converter, star-connected autotransformer, power quality, 24 pulse rectifier, Pulse Doubling, direct torquecontrolled induction motor drive (DTCIMD).

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Authors: M. Senthil Arumugam, M.V.C. Rao

Abstract:

This paper presents a novel two-phase hybrid optimization algorithm with hybrid genetic operators to solve the optimal control problem of a single stage hybrid manufacturing system. The proposed hybrid real coded genetic algorithm (HRCGA) is developed in such a way that a simple real coded GA acts as a base level search, which makes a quick decision to direct the search towards the optimal region, and a local search method is next employed to do fine tuning. The hybrid genetic operators involved in the proposed algorithm improve both the quality of the solution and convergence speed. The phase–1 uses conventional real coded genetic algorithm (RCGA), while optimisation by direct search and systematic reduction of the size of search region is employed in the phase – 2. A typical numerical example of an optimal control problem with the number of jobs varying from 10 to 50 is included to illustrate the efficacy of the proposed algorithm. Several statistical analyses are done to compare the validity of the proposed algorithm with the conventional RCGA and PSO techniques. Hypothesis t – test and analysis of variance (ANOVA) test are also carried out to validate the effectiveness of the proposed algorithm. The results clearly demonstrate that the proposed algorithm not only improves the quality but also is more efficient in converging to the optimal value faster. They can outperform the conventional real coded GA (RCGA) and the efficient particle swarm optimisation (PSO) algorithm in quality of the optimal solution and also in terms of convergence to the actual optimum value.

Keywords: Hybrid systems, optimal control, real coded genetic algorithm (RCGA), Particle swarm optimization (PSO), Hybrid real coded GA (HRCGA), and Hybrid genetic operators.

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