Search results for: Food price

Authors: Hayam M. Ibrahim, Ferial M. Abu-Salem

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Medicinal plants are now gaining attractiveness in treatment of bacterial infections and food preservation. The objective of this study was to assess antibacterial activity of some medicinal plants on pathogenic bacteria. Screening of antibacterial activity of aqueous and methanol extracts of some plants: Jojoba, Ginger, Sage, Thyme and Clove against Bacillus cereus, Salmonella typhimurium, Staphylococcus aureus, Clostridium perfringens and Escherichia coli were investigated. Antibacterial activity was performed by agar diffusion and disc diffusion method. Jatropha, Jojoba, Clove and Ginger extracts showed notable bacterial activity in the first screening step then selected to be tested against Bacillus cereus (Gram+), Staphylococcus aureus (Gram+) and Salmonella typhimurium (Gram−) and their effect was compared using antibiotics as control. Screening results showed potential antibacterial activity of the tested plant extracts against the screened bacterial strains. It was found that methanol extracts exhibited higher antibacterial activity than aqueous extracts. Methanol extract of Jatropha showed the highest inhibition zone against Staphylococcus aureus (Gram+) with 24.00 mm diameter, compared to the other plant extracts followed by clove. Meanwhile, the inhibition zones of methanol extracts of Jojoba and Ginger were the same (12mm).The Gram-positive bacteria were found to be more sensitive to aqueous and methanol extracts than Gram-negative bacteria.

Keywords: Antibacterial activity, Food-borne pathogenic bacteria, Medicinal plants, Plant extracts.

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Authors: Atefeh Pourshafie, Mohsen. Saniei, S. S. Mortazavi, A. Saeedian

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In this paper optimal capacitor placement problem has been formulated in a restructured distribution network. In this scenario the distribution network operator can consider reactive energy also as a service that can be sold to transmission system. Thus search for optimal location, size and number of capacitor banks with the objective of loss reduction, maximum income from selling reactive energy to transmission system and return on investment for capacitors, has been performed. Results is influenced with economic value of reactive energy, therefore problem has been solved for various amounts of it. The implemented optimization technique is genetic algorithm. For any value of reactive power economic value, when reverse of investment index increase and change from zero or negative values to positive values, the threshold value of selling reactive power has been obtained. This increasing price of economic parameter is reasonable until the network losses is less than loss before compensation.

Keywords: capacitor placement, deregulated electric market, distribution network optimization.

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Authors: Chen-Yin Kuo

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This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.

Keywords: Current account, stock price, foreign exchange rate, country characteristics, bivariate cointegration, bi-directional causal relationships.

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

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The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50- 60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: Population aging in the Czech Republic, Segment 50-60 years, Financial services marketing, Marketing research, Marketing approach.

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Authors: F. Gökgöz, M. E. Atmaca

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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.

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Authors: Piotr Prewysz-Kwinto

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A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: Exchange traded products, financial market, investment, stock exchange.

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Authors: Bundit Pungnirund

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This research aimed to investigate the relationship between attitude towards marketing mix, brand image and consumer behavior of the passengers of low-cost airlines service. This study employed by quantitative research and the questionnaire was used to collect the data from 400 sampled of the passengers who have ever used the low-cost airline services based in Bangkok, Thailand. The descriptive statistics and Pearson’s correlation analysis were used to analyze data. The research results revealed that the attitude of the marketing mix of the low-cost airline services including product, price, place, promotion and process had related to the consumer behavior on the aspects of duration of service and frequency of service. While, the brand image of the low cost airline including the characteristics of organization, service quality and company identity had related to the consumer behavior on duration of service, frequency of service and cost of service at the significant statistically acceptable levels.

Keywords: Brand image, consumer behavior, low-cost airlines, marketing mix.

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Authors: A. A. Aiyeloja, A.T. Oladele, O. Tumulo

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Raphia wine is an important forest product with cultural significance besides its use as medicine and food in southern Nigeria. This work aims to evaluate the profitability of Raphia wine production and marketing in Sapele Local Government Area, Nigeria. Four communities (Sapele, Ogiede, Okuoke and Elume) were randomly selected for data collection via questionnaires among producers and marketers. A total of 50 producers and 34 marketers were randomly selected for interview. Data was analyzed using descriptive statistics, profit margin, multiple regression and rate of returns on investment (RORI). Annual average profit was highest in Okuoke (Producers – N90, 000.00, Marketers - N70, 000.00) and least in Sapele (Producers N50, 000.00, Marketers – N45, 000.00). Calculated RORI for marketers were Elume (40.0%), Okuoke (25.0%), Ogiede (33.3%) and Sapele (50.0%). Regression results showed that location has significant effects (0.000, ρ ≤ 0.05) on profit margins. Male (58.8%) and female (41.2%) invest in Raphia wine marketing, while males (100.0%) dominate production. Results showed that Raphia wine has potentials to generate household income, enhance food security and improve quality of life in rural, semi-urban and urban communities. Improved marketing channels, storage facilities and credit facilities via cooperative groups are recommended for producers and marketers by concerned agencies.

Keywords: Raphia wine, Profit margin, RORI, Livelihood, Nigeria.

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Authors: Carmen E. Pérez-Donado, Fernando Pérez-Muñoz, Rosa N. Chávez-Jáuregui

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Plantain contains starch as the main component and represents a relevant source of this carbohydrate. Starches from different cultivars of plantain and bananas have been studied for industrialization purposes due to their morphological and thermal characteristics and their influence in food products. This study aimed to characterize the physical, chemical, and thermal properties of starch from three different plantain cultivated in Puerto Rico: Maricongo, Maiden and FHIA 20. Amylose and amylopectin content, color, granular size, morphology, and thermal properties were determined. According to the amylose content in starches, FHIA 20 presented lowest content of the three cultivars studied. In terms of color, Maiden and FHIA 20 starches exhibited significantly higher whiteness indexes compared to Maricongo starch. Starches of the three cultivars had an elongated-ovoid morphology, with a smooth surface and a non-porous appearance. Regardless of similarities in their morphology, FHIA 20 exhibited a lower aspect ratio since its granules tended to be more elongated. Comparison of the thermal properties of starches showed that initial starch gelatinization temperature was similar among cultivars. However, FHIA 20 starch presented a noticeably higher final gelatinization temperature (87.95°C) and transition enthalpy than Maricongo (79.69°C) and Maiden (77.40°C). Despite similarities, starches from plantain cultivars showed differences in their composition and thermal behavior. This represents an opportunity to diversify plantain starch use in food-related applications.

Keywords: aspect ratio, morphology, Musa spp., starch, thermal properties, amylose content

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Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.

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Authors: Jovana Petrović, Ivana Lončarević, Vesna Tumbas Šaponjac, Biljana Pajin, Danica Zarić

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Pomace, a by-product from fruit processing industry is the potential source of valuable bioactive. Cookies are popular, ready to eat and low price foods; therefore, enrichment of these products is of great importance. In this work, bioactive compounds extracted from cherry pomace, encapsulated in soy and whey proteins, have been incorporated in cookies, replacing 10 (SP10 and WP10) and 15% of wheat flour (SP15 and WP15). Cookie geometry (diameter (D), thickness (T) and spread ratio (D/T)), cookie weight, cookie hardness and cookie surface colour were measured. Sensory characteristics are also examined. The results show that encapsulated cherry pomace bioactives have positively influenced the cookie mass. Diameter, redness (a* value) and cookie hardness increased. Sensory evaluation of cookies, revealed that up to 15% substitution of wheat flour with WP encapsulate produced acceptable cookies similar to the control (100% wheat flour) cookies.

Keywords: Cherry pomace, polyphenols, microencapsulation, cookies, physical characteristics.

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Authors: Ho-Jun Jo, Wook-Won Kim, Yong-Sung Kim, Jin-O Kim

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The application of ESS (Energy Storage Systems) in the future grids has been the solution of the microgrid. However, high investment costs necessitate accurate modeling and control strategy of ESS to justify its economic viability and further underutilization. Therefore, the reasonable control strategy for ESS which is subjected to generator and usage helps to curtail the cost of investment and operation costs. The rated frequency in power system is decreased when the load is increasing unexpectedly; hence the thermal power is operated at the capacity of only its 95% for the Governor Free (GF) to adjust the frequency as reserve (5%) in practice. The ESS can be utilized with governor at the same time for the frequency response due to characteristic of its fast response speed and moreover, the cost of ESS is declined rapidly to the reasonable price. This paper presents the ESS control strategy to extend usage of the ESS taken account into governor’s ramp rate and reduce the governor’s intervention as well. All results in this paper are simulated by MATLAB.

Keywords: Micro grid, energy storage systems, ramp rate, control strategy.

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Authors: Mohd K. Yunus, Murni M. Ahmad, Abrar Inayat, Suzana Yusup

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Due to the environmental and price issues of current energy crisis, scientists and technologists around the globe are intensively searching for new environmentally less-impact form of clean energy that will reduce the high dependency on fossil fuel. Particularly hydrogen can be produced from biomass via thermochemical processes including pyrolysis and gasification due to the economic advantage and can be further enhanced through in-situ carbon dioxide removal using calcium oxide. This work focuses on the synthesis and development of the flowsheet for the enhanced biomass gasification process in PETRONAS-s iCON process simulation software. This hydrogen prediction model is conducted at operating temperature between 600 to 1000oC at atmospheric pressure. Effects of temperature, steam-to-biomass ratio and adsorbent-to-biomass ratio were studied and 0.85 mol fraction of hydrogen is predicted in the product gas. Comparisons of the results are also made with experimental data from literature. The preliminary economic potential of developed system is RM 12.57 x 106 which equivalent to USD 3.77 x 106 annually shows economic viability of this process.

Keywords: Biomass, Gasification, Hydrogen, iCON.

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Authors: Prima Luna, Afroditi Chatzifragkou, Dimitris Charalampopoulos

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Sorghum byproducts, namely bran, stalk, and panicle are examples of lignocellulosic biomass. These raw materials contain large amounts of polysaccharides, in particular hemicelluloses, celluloses, and lignins, which if efficiently extracted, can be utilised for the development of a range of added value products with potential applications in agriculture and food packaging sectors. The aim of this study was to characterise fractions extracted from sorghum bran and stalk with regards to their physicochemical properties that could determine their applicability as food-packaging materials. A sequential alkaline extraction was applied for the isolation of cellulosic, hemicellulosic and lignin fractions from sorghum stalk and bran. Lignin content, phenolic content and antioxidant capacity were also investigated in the case of the lignin fraction. Thermal analysis using differential scanning calorimetry (DSC) and X-Ray Diffraction (XRD) revealed that the glass transition temperature (T_g) of cellulose fraction of the stalk was ~78.33 ^oC at amorphous state (~65%) and water content of ~5%. In terms of hemicellulose, the T_g value of stalk was slightly lower compared to bran at amorphous state (~54%) and had less water content (~2%). It is evident that hemicelluloses generally showed a lower thermal stability compared to cellulose, probably due to their lack of crystallinity. Additionally, bran had higher arabinose-to-xylose ratio (0.82) than the stalk, a fact that indicated its low crystallinity. Furthermore, lignin fraction had T_g value of ~93 ^oC at amorphous state (~11%). Stalk-derived lignin fraction contained more phenolic compounds (mainly consisting of p-coumaric and ferulic acid) and had higher lignin content and antioxidant capacity compared to bran-derived lignin fraction.

Keywords: Alkaline extraction, bran, cellulose, hemicellulose, lignin, sorghum, stalk.

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Authors: Sewon Kim, Minjun Kwon, Changyeop Lee

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This paper is aimed to study combustion characteristics of low NOx burner using petroleum cokes as fuel. The petroleum coke, which is produced through the oil refining process, is an attractive fuel in terms of its high heating value and low price. But petroleum coke is a challenging fuel because of its low volatile content, high sulfur and nitrogen content, which give rise to undesirable emission characteristics and low ignitability. Therefore, the research and development regarding the petroleum coke burner is needed for applying this industrial system. In this study, combustion and emission characteristics of petroleum cokes burner are experimentally investigated in an industrial steam boiler. The low NOx burner is designed to control fuel and air mixing to achieve staged combustion, which, in turn reduces both flame temperature and oxygen. Air distribution ratio of triple staged air is optimized experimentally. The result showed that NOx concentration is lowest when overfire air is used, and the burner function at a fuel rich condition. That is, the burner is operated at the equivalence ratio of 1.67 and overall equivalence ratio including overfire air is kept 0.87.

Keywords: Petroleum cokes, Staged combustion, Low NOx, Equivalence ratio.

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Authors: Adenike O. Olatunji-Akioye, Emmanual B Farayola

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In order to improve the animal protein recommended daily intake of Nigerians, there is an upsurge in breeding of hitherto shunned food animals one of which is the rabbit. Radiography and ultrasonography are tools for diagnosing disease and evaluating the anatomical architecture of parts of the body non-invasively. As the rabbit is becoming a more important food animal, to achieve improved breeding of these animals, the best of the species form a breeding stock and will usually depend on breeding soundness which may be evaluated by assessment of the male reproductive organs by these tools. Four male intact rabbits weighing between 1.2 to 1.5 kg were acquired and acclimatized for 2 weeks. Dorsoventral views of the testes were acquired using a digital radiographic machine and a 5 MHz portable ultrasound scanner was used to acquire images of the testes in longitudinal, sagittal and transverse planes. Radiographic images acquired revealed soft tissue images of the testes in all rabbits. The testes lie in individual scrotal sacs sides on both sides of the midline at the level of the caudal vertebrae and thus are superimposed by caudal vertebrae and the caudal limits of the pelvic girdle. The ultrasonographic images revealed mostly homogenously hypoechogenic testes and a hyperechogenic mediastinum testis. The dorsal and ventral poles of the testes were heterogeneously hypoechogenic and correspond to the epididymis and spermatic cord. The rabbit is unique in the ability to retract the testes particularly when stressed and so careful and stressless handling during the procedures is of paramount importance. The imaging of rabbit testes can be safely done using both imaging methods but ultrasonography is a better method of assessment and evaluation of soundness for breeding.

Keywords: Breeding soundness, rabbits, radiography, ultrasonography.

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Authors: K. Assis, K. P. Chong, A. S. Idris, C. M. Ho

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Oil palm or Elaeis guineensis is considered as the golden crop in Malaysia. But oil palm industry in this country is now facing with the most devastating disease called as Ganoderma Basal Stem Rot disease. The objective of this paper is to analyze the economic loss due to this disease. There were three commercial oil palm sites selected for collecting the required data for economic analysis. Yield parameter used to measure the loss was the total weight of fresh fruit bunch in six months. The predictors include disease severity, change in disease severity, number of infected neighbor palms, age of palm, planting generation, topography, and first order interaction variables. The estimation model of yield loss was identified by using backward elimination based regression method. Diagnostic checking was conducted on the residual of the best yield loss model. The value of mean absolute percentage error (MAPE) was used to measure the forecast performance of the model. The best yield loss model was then used to estimate the economic loss by using the current monthly price of fresh fruit bunch at mill gate.

Keywords: Ganoderma, oil palm, regression model, yield loss, economic loss.

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Authors: Liping Yang, Curran Crawford, Jr. Ren, Zhengyi Ren

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Considering the cost evaluation and the stress analysis, a fuzzy satisfactory optimization (FSO) method has been developed for a hybrid composite flywheel. To evaluate the cost, the cost coefficients of the flywheel components are obtained through calculating the weighted sum of the scores of the material manufacturability, the structure character, and the material price. To express the satisfactory degree of the energy, the cost, and the mass, the satisfactory functions are proposed by using the decline function and introducing a satisfactory coefficient. To imply the different significance of the objectives, the object weight coefficients are defined. Based on the stress analysis of composite material, the circumferential and radial stresses are considered into the optimization formulation. The simulations of the FSO method with different weight coefficients and storage energy density optimization (SEDO) method of a flywheel are contrasted. The analysis results show that the FSO method can satisfy different requirements of the designer and the FSO method with suitable weight coefficients can replace the SEDO method.

Keywords: Flywheel energy storage, fuzzy, optimization, stress analysis.

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Authors: Phruksaphanrat B.

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This research proposes a Preemptive Possibilistic Linear Programming (PPLP) approach for solving multiobjective Aggregate Production Planning (APP) problem with interval demand and imprecise unit price and related operating costs. The proposed approach attempts to maximize profit and minimize changes of workforce. It transforms the total profit objective that has imprecise information to three crisp objective functions, which are maximizing the most possible value of profit, minimizing the risk of obtaining the lower profit and maximizing the opportunity of obtaining the higher profit. The change of workforce level objective is also converted. Then, the problem is solved according to objective priorities. It is easier than simultaneously solve the multiobjective problem as performed in existing approach. Possible range of interval demand is also used to increase flexibility of obtaining the better production plan. A practical application of an electronic company is illustrated to show the effectiveness of the proposed model.

Keywords: Aggregate production planning, Fuzzy sets theory, Possibilistic linear programming, Preemptive priority

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Authors: Tao Shun, Xiao Xiangning, HadjSaid, N.

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In a liberalized electricity market, it is not surprising that different customers require different power quality (PQ) levels at different price. Power quality related to several power disturbances is described by many parameters, so how to define a comprehensive hierarchy evaluation system of power quality (PQCHES) has become a concerned issue. In this paper, based on four electromagnetic compatibility (EMC) levels, the numerical range of each power disturbance is divided into five grades (Grade I –Grade V), and the “barrel principle" of power quality is used for the assessment of overall PQ performance with only one grade indicator. A case study based on actual monitored data of PQ shows that the site PQ grade indicates the electromagnetic environment level and also expresses the characteristics of loads served by the site. The shortest plank principle of PQ barrel is an incentive mechanism, which can combine with the rewards/penalty mechanism (RPM) of consumed energy “on quality demand", to stimulate utilities to improve the overall PQ level and also stimulate end-user more “smart" under the infrastructure of future SmartGrid..

Keywords: Power quality, electromagnetic compatibility, SmartGrid, comprehensive evaluation, barrel principle, electricitymarket

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Authors: Magda S. Taipina, Maria L. Garbelotti, Mariana G.B. Cadioli

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Banana is one of the most consumed fruits in the tropics and subtropics. Brazil accounts for about 9% of the world banana production. However, the production losses are as high as 30 to 40% and even much higher in some developing countries. The green banana flour is a complex carbohydrate source, including a high total starch (73.4%), resistant starch (17.5%) with functional properties. Gamma irradiation is considered to be an alternative method for food preservation. It has been performed due to the need of extending the shelf - life of foods, whilst maintaining their safety and avoiding one of the main concerns: the nutrient loss. In this work data about on the effects of ionizing radiation on the physicochemical analysis (carbohydrate, proteins, lipids, alimentary fiber, moistures and ashes) of Brazilian functional products (biscuits and bread) of the green banana pulp are presented. The caloric value was calculated. No significant difference was observed between the samples of irradiated and non – irradiated green banana biscuits with the following determinations: carbohydrates, proteins, alimentary fiber and ashes. Only a small significant difference was found in lipids (macronutrients). The results of physical chemical analysis of the irradiated and non- irradiated green banana bread non- irradiated showed no significant difference with the following determinations: carbohydrates, lipids (macronutrients), moisture, ashes and caloric value. A small difference was found in proteins (macronutrients). Irradiation of functional products (biscuits and bread) with doses of 1 and 3kGy maintained their original macronutrients content, showing good radioresistance.

Keywords: Irradiation, Functional Food, Nutritional value.

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Authors: Bruno Henrique Rocha Fernandes, Amir Rezaee, Jucelia Appio

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The relation between Human Resource Management (HRM) practices and organizational performance remains the subject of substantial literature. Though many studies demonstrated positive relationship, still major influencing variables are not yet clear. This study considers the Person-Environment Fit (PE Fit) and its components, Person-Supervisor (PS), Person-Group (PG), Person-Organization (PO) and Person-Job (PJ) Fit, as possible explanatory variables. We analyzed PE Fit as a moderator between HRM practices and financial performance in the “best companies to work” in Brazil. Data from HRM practices were classified through the High Performance Working Systems (HPWS) construct and data on PE-Fit were obtained through surveys among employees. Financial data, consisting of return on invested capital (ROIC) and price earnings ratio (PER) were collected for publicly traded best companies to work. Findings show that PO Fit and PJ Fit play a significant moderator role for PER but not for ROIC.

Keywords: Financial performance, human resource management, high performance working systems, person-environment fit.

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Authors: Shigeaki Sakurai, Makino Kyoko, Shigeru Matsumoto

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This paper proposes a method that predicts attractive evaluation objects. In the learning phase, the method inductively acquires trend rules from complex sequential data. The data is composed of two types of data. One is numerical sequential data. Each evaluation object has respective numerical sequential data. The other is text sequential data. Each evaluation object is described in texts. The trend rules represent changes of numerical values related to evaluation objects. In the prediction phase, the method applies new text sequential data to the trend rules and evaluates which evaluation objects are attractive. This paper verifies the effect of the proposed method by using stock price sequences and news headline sequences. In these sequences, each stock brand corresponds to an evaluation object. This paper discusses validity of predicted attractive evaluation objects, the process time of each phase, and the possibility of application tasks.

Keywords: Trend rule, frequent pattern, numerical sequential data, text sequential data, evaluation object.

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Authors: Muh. Hisjam, Nancy Oktyajati, Wakhid A. Jauhari, Wahyudi Sutopo

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This research is intended to develop a raw material allocation model in timber processing industry in Perum Perhutani Unit I, Central Java, Indonesia. The model can be used to determine the quantity of allocation of timber between chain in the supply chain to select supplier considering factors that are log price and the distance. In determining the quantity of allocation of timber between chains in the supply chain, the model considers the optimal inventory in each chain. Whilst the optimal inventory is determined based on demand forecast, the capacity and safety stock. Problem solving allocation is conducted by developing linear programming model that aims to minimize the total cost of the purchase, transportation cost and storage costs at each chain. The results of numerical examples show that the proposed model can generate savings of the purchase cost of 20.84% and select suppliers with mileage closer.

Keywords: Allocation model, linear programming, purchase costs, storage costs, suppliers, transportation costs.

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.

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Authors: Navneet Singh Deora, Aastha Deswal, H. N. Mishra

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Pasta is one of the most widely consumed food products around the world. Rapid determination of the moisture content in pasta will assist food processors to provide online quality control of pasta during large scale production. Rapid Fourier transform near-infrared method (FT-NIR) was developed for determining moisture content in pasta. A calibration set of 150 samples, a validation set of 30 samples and a prediction set of 25 samples of pasta were used. The diffuse reflection spectra of different types of pastas were measured by FT-NIR analyzer in the 4,000-12,000cm^-1 spectral range. Calibration and validation sets were designed for the conception and evaluation of the method adequacy in the range of moisture content 10 to 15 percent (w.b) of the pasta. The prediction models based on partial least squares (PLS) regression, were developed in the near-infrared. Conventional criteria such as the R², the root mean square errors of cross validation (RMSECV), root mean square errors of estimation (RMSEE) as well as the number of PLS factors were considered for the selection of three pre-processing (vector normalization, minimum-maximum normalization and multiplicative scatter correction) methods. Spectra of pasta sample were treated with different mathematic pre-treatments before being used to build models between the spectral information and moisture content. The moisture content in pasta predicted by FT-NIR methods had very good correlation with their values determined via traditional methods (R² = 0.983), which clearly indicated that FT-NIR methods could be used as an effective tool for rapid determination of moisture content in pasta. The best calibration model was developed with min-max normalization (MMN) spectral pre-processing (R² = 0.9775). The MMN pre-processing method was found most suitable and the maximum coefficient of determination (R²) value of 0.9875 was obtained for the calibration model developed.

Keywords: FT-NIR, Pasta, moisture determination.

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Authors: A. E. Mukhametov, M. T. Yerbulekova, D. R. Dautkanova, G. A. Tuyakova, G. Aitkhozhayeva

Abstract:

The accumulation of heavy metals in food is a constant problem in many parts of the world. Vegetable oils are widely used, both for cooking and for processing in the food industry, meeting the main dietary requirements. One of the main chemical pollutants, heavy metals, is usually found in vegetable oils. These chemical pollutants are carcinogenic, teratogenic and immunotoxic, harmful to consumption and have a negative effect on human health even in trace amounts. Residues of these substances can easily accumulate in vegetable oil during cultivation, processing and storage. In this article, the content of the concentration of heavy metal ions in vegetable oils of Kazakhstan production is studied: sunflower, rapeseed, safflower and linseed oil. Heavy metals: arsenic, cadmium, lead and nickel, were determined in three repetitions by the method of flame atomic absorption. Analysis of vegetable oil samples revealed that the largest lead contamination (Pb) was determined to be 0.065 mg/kg in linseed oil. The content of cadmium (Cd) in the largest amount of 0.009 mg/kg was found in safflower oil. Arsenic (As) content was determined in rapeseed and safflower oils at 0.003 mg/kg, and arsenic (As) was not detected in linseed and sunflower oil. The nickel (Ni) content in the largest amount of 0.433 mg/kg was in linseed oil. The heavy metal contents in the test samples complied with the requirements of regulatory documents for vegetable oils. An assessment of the health risk of vegetable oils with a daily consumption of 36 g per day shows that all samples of vegetable oils produced in Kazakhstan are safe for consumption. But further monitoring is needed, since all these metals are toxic and their harmful effects become apparent only after several years of exposure.

Keywords: Kazakhstan, oil, safety, toxic metals.

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Authors: Ornst J., Voracek J., Allouache A., Allouache D.

Abstract:

Lack of resources for road infrastructure financing is a problem that currently affects not only eastern European economies but also many other countries especially in relation to the impact of global financial crisis. In this context, we are talking about the socalled short-investment problem as a result of long-term lack of investment resources. Based on an analysis of road infrastructure financing in the Czech Republic this article points out at weaknesses of current system and proposes a long-term planning methodology supported by system approach. Within this methodology and using created system dynamic model the article predicts the development of short-investment problem in the Country and in reaction on the downward trend of certain sources the article presents various scenarios resulting from the change of the structure of financial sources. In the discussion the article focuses more closely on the possibility of introduction of tax on vehicles instead of taxes with declining revenue streams and estimates its approximate price in relation to reaching various solutions of short-investment in time.

Keywords: Road financing, road infrastructure development, system dynamics

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Authors: Hamed Homaei, Iraj Mahdavi, Ali Tajdin

Abstract:

One of the main concerns of miners is to increase the quality level of their products because the mining metals price depends on their quality level; however, increasing the quality level of these products has different costs at different levels of the supply chain. These costs usually increase after extractor level. This paper studies the coordination issue of a decentralized three-level supply chain with one supplier (extractor), one mineral processor and one manufacturer in which the increasing product quality level cost at the processor level is higher than the supplier and at the level of the manufacturer is more than the processor. We identify the optimal product quality level for each supply chain member by designing a revenue sharing contract. Finally, numerical examples show that the designed contract not only increases the final product quality level but also provides a win-win condition for all supply chain members and increases the whole supply chain profit.

Keywords: Three-stage supply chain, product quality improvement, channel coordination, revenue sharing.

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Authors: Salah Alrabeei, Mohammad Yousuf

Abstract:

The goal of option pricing theory is to help the investors to manage their money, enhance returns and control their financial future by theoretically valuing their options. However, most of the option pricing models have no analytical solution. Furthermore, not all the numerical methods are efficient to solve these models because they have nonsmoothing payoffs or discontinuous derivatives at the exercise price. In this paper, we solve the American option under jump diffusion models by using efficient time-dependent numerical methods. several techniques are integrated to reduced the overcome the computational complexity. Fast Fourier Transform (FFT) algorithm is used as a matrix-vector multiplication solver, which reduces the complexity from O(M2) into O(M logM). Partial fraction decomposition technique is applied to rational approximation schemes to overcome the complexity of inverting polynomial of matrices. The proposed method is easy to implement on serial or parallel versions. Numerical results are presented to prove the accuracy and efficiency of the proposed method.

Keywords: Integral differential equations, American options, jump–diffusion model, rational approximation.

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