Search results for: foreign exchange

Authors: A. Iqbal, N. Khalid, S. Rafiq

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The interrelationship between international stock markets has been a key study area among the financial market researchers for international portfolio management and risk measurement. The characteristics of security returns and their dynamics play a vital role in the financial market theory. This study is an attempt to find out the dynamic linkages among the equity market of USA and emerging markets of Pakistan and India using daily data covering the period of January 2003–December 2009. The study utilizes Johansen (Journal of Economic Dynamics and Control, 12, 1988) and Johansen and Juselius (Oxford Bulletin of Economics and Statistics, 52, 1990) cointegration procedure for long run relationship and Granger-causality tests based on Toda and Yamamoto (Journal of Econometrics, 66, 1995) methodology. No cointegration was found among stock markets of USA, Pakistan and India, while Granger-causality test showed the evidence of unidirectional causality running from New York stock exchange to Bombay and Karachi stock exchanges.

Keywords: Causality, Cointegration, India, Pakistan, Stock Markets, US.

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Authors: Ren Jian-min, Wu Si-wei, Jin Wei

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CTMA-bentonite and BTEA-Bentonite prepared by Na-bentonite cation exchanged with cetyltrimethylammonium(CTMA) and benzyltriethylammonium (BTEA). Products were characterized by XRD and IR techniques.The d001 spacing value of CTMA-bentonite and BTEA-bentonite are 7.54Å and 3.50Å larger than that of Na-bentonite at 100% cation exchange capacity, respectively. The IR spectrum showed that the intensities of OH stretching and bending vibrations of the two organoclays decreased greatly comparing to untreated Na-bentonite. Batch experiments were carried out at 303 K, 318 K and 333 K to obtain the sorption isotherms of Crystal violet onto the two organoclays. The results show that the sorption isothermal data could be well described by Freundlich model. The dynamical data for the two organoclays fit well with pseudo-second-order kinetic model. The adsorption capacity of CTMA-bentonite was found higher than that of BTEA-Bentonite. Thermodynamic parameters such as changes in the free energy (ΔG°), the enthalpy (ΔH°) and the entropy (ΔS°) were also evaluated. The overall adsorption process of Crystal violet onto the two organoclays were spontaneous, endothermic physisorption. The CTMA-bentonite and BTEA-Bentonite could be employed as low-cost alternatives to activated carbon in wastewater treatment for the removal of color which comes from textile dyes.

Keywords: Characterization, Adsorption, Crystal violet, Bentonite, BTEA, CTMA

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Authors: Yen-Cheng Chen, Fu-Chen Yang

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IETF defines mobility support in IPv6, i.e. MIPv6, to allow nodes to remain reachable while moving around in the IPv6 internet. When a node moves and visits a foreign network, it is still reachable through the indirect packet forwarding from its home network. This triangular routing feature provides node mobility but increases the communication latency between nodes. This deficiency can be overcome by using a Binding Update (BU) scheme, which let nodes keep up-to-date IP addresses and communicate with each other through direct IP routing. To further protect the security of BU, a Return Routability (RR) procedure was developed. However, it has been found that RR procedure is vulnerable to many attacks. In this paper, we will propose a lightweight RR procedure based on geometric computing. In consideration of the inherent limitation of computing resources in mobile node, the proposed scheme is developed to minimize the cost of computations and to eliminate the overhead of state maintenance during binding updates. Compared with other CGA-based BU schemes, our scheme is more efficient and doesn-t need nonce tables in nodes.

Keywords: Mobile IPv6, Binding update, Geometric computing.

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Authors: Nariman O. Kandil, Ehab K. Abou-Elkheir, Amr M. Kotb

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Effective IT governance guarantees the strategic alignment of IT and business goals, risk mitigation control, and better IT and business performance. This study seeks to examine empirically the extent of IT governance implementation within the firms listed on the Egyptian Stock Exchange (EGX30) and its determinants. Accordingly, 18 semi-structured interviews, face to face, phone, and video-conferencing, using various tools (e.g., WebEx, Zoom, and Microsoft Teams) were undertaken at the interviewees’ offices in Egypt between the end of November 2019 and the end of August 2020. Results suggest that there are variances in the extent of IT Governance (ITG) implementation within the firms listed on the EGX30, mainly caused by the industry type and internal and external triggers. The results also suggest that the organization size, the type of auditor, the criticality of the industry, the effective processes & key performance indicators (KPIs), and the information intensity expertise of the chief information officers (CIOs) have a significant impact on ITG implementation within the firms.

Keywords: Effective IT governance, Egyptian Market, information security, risk controls.

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Authors: B. A. Lawal, A. G. Ojanuga, P. A. Tsado, A. Mohammed

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This work assessed some properties of three pedons on a toposequence in Ijah-Gbagyi district in Niger State, Nigeria. The pedons were designated as JG1, JG2 and JG3 representing the upper, middle and lower slopes respectively. The surface soil was characterized by dark yellowish brown (10YR3/4) color at the JG1 and JG2 and very dark grayish brown (10YR3/2) color at JG3. Sand dominated the mineral fraction and its content in the surface horizon decreased down the slope, whereas silt content increased down the slope due to sorting by geological and pedogenic processes. Although organic carbon (OC), total nitrogen (TN) and available phosphorus (P) were rated high, TN and available P decreased down the slope. High cation exchange capacity (CEC) was an indication that the soils have high potential for plant nutrients retention. The pedons were classified as Typic Haplustepts/ Haplic Cambisols (Eutric), Plinthic Petraquepts/ Petric Plinthosols (Abruptic) and Typic Endoaquepts/ Endogleyic Cambisols (Endoclayic).

Keywords: Ecological region, landscape positions, soil characterization, soil classification.

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Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu

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After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.

Keywords: financial education, corporate governance, board

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Authors: Ghulam Haider Haidaree, Nsenda Lukumwena

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Most developing nations face energy production and supply problems. This is also the case of Afghanistan whose generating capacity does not meet its energy demand. This is due in part to high security and risk caused by war which deters foreign investments and insufficient internal revenue. To address the issue above, this paper would like to suggest an alternative and affordable way to deal with the energy problem. That is by converting Solid Waste to energy. As a result, this approach tackles the municipal solid waste issue (potential cause of several diseases), contributes to the improvement of the quality of life, local economy, and so on. While addressing the solid waste problem in general, this paper samples specifically one municipality which is District-12, one of the 22 districts of Kabul city. Using geographic information system (GIS) technology, District-12 is divided into nine different zones whose municipal solid waste is respectively collected, processed, and converted into electricity and distributed to the closest area. It is important to mention that GIS has been used to estimate the amount of electricity to be distributed and to optimally position the production plant.

Keywords: Energy problem, estimation of electricity, GIS zones, solid waste management system.

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Authors: Hanfei Tuo, Yanzhong Li

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This paper presented a novel combined cycle of air separation and natural gas liquefaction. The idea is that natural gas can be liquefied, meanwhile gaseous or liquid nitrogen and oxygen are produced in one combined cryogenic system. Cycle simulation and exergy analysis were performed to evaluate the process and thereby reveal the influence of the crucial parameter, i.e., flow rate ratio through two stages expanders β on heat transfer temperature difference, its distribution and consequent exergy loss. Composite curves for the combined hot streams (feeding natural gas and recycled nitrogen) and the cold stream showed the degree of optimization available in this process if appropriate β was designed. The results indicated that increasing β reduces temperature difference and exergy loss in heat exchange process. However, the maximum limit value of β should be confined in terms of minimum temperature difference proposed in heat exchanger design standard and heat exchanger size. The optimal βopt under different operation conditions corresponding to the required minimum temperature differences was investigated.

Keywords: combined cycle simulation, exergy analysis, natural gas liquefaction.

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Authors: Adamu Danlami Ahmed

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Inventory management is the determinant of effective and efficient work for any manager. This study looked at the relationship between inventory management and financial performance. The population of the study comprises all conglomerate quoted companies in the Nigerian Stock Exchange market as at 31^st December 2010. The scope of the study covered the period from 2010 to 2014. Descriptive, Pearson correlation and multiple regressions are used to analyze the data. It was found that inventory management is significantly related to the profitability of the company. This entails that an efficient management of the inventory cycle will enhance the profitability of the company. Also, lack of proper management of it will hinder the financial performance of organizations. Based on the results, it was recommended that a conglomerate company should try to see that inventories are kept to a minimum, as well as make sure the proper checks are maintained to make sure only needed inventories are in the store. As well as to keep track of the movement of goods, in order to avoid unnecessary delay of finished and work in progress (WIP) goods in the store and warehouse.

Keywords: Finished goods, work in progress, financial performance, inventory.

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Authors: Somenath Mukherjee, Raj Kumar Samanta, Gautam Sanyal

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Different services based on different switching techniques in wireless networks leads to drastic changes in the properties of network traffic. Because of these diversities in services, network traffic is expected to undergo qualitative and quantitative variations. Hence, assumption of traffic characteristics and the prediction of network events become more complex for the wireless networks. In this paper, the traffic characteristics have been studied by collecting traces from the mobile switching centre (MSC). The traces include initiation and termination time, originating node, home station id, foreign station id. Traffic parameters namely, call interarrival and holding times were estimated statistically. The results show that call inter-arrival and distribution time in this wireless network is heavy-tailed and follow gamma distributions. They are asymptotically long-range dependent. It is also found that the call holding times are best fitted with lognormal distribution. Based on these observations, an analytical model for performance estimation is also proposed.

Keywords: Wireless networks, traffic analysis, long-range dependence, heavy-tailed distribution.

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Authors: Masoud Saeedi, Mansour Tavakoli, Shirin Rahimi Kazerooni, Vahid Parvaresh

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This article investigated the validity of C-test and Cloze test which purport to measure general English proficiency. To provide empirical evidence pertaining to the validity of the interpretations based on the results of these integrative language tests, their criterion-related validity was investigated. In doing so, the test of English as a foreign language (TOEFL) which is an established, standardized, and internationally administered test of general English proficiency was used as the criterion measure. Some 90 Iranian English majors participated in this study. They were seniors studying English at a university in Tehran, Iran. The results of analyses showed that there is a statistically significant correlation among participants- scores on Cloze test, C-test, and the TOEFL. Building on the findings of the study and considering criterion-related validity as the evidential basis of the validity argument, it was cautiously deducted that these tests measure the same underlying trait. However, considering the limitations of using criterion measures to validate tests, no absolute claims can be made as to the construct validity of these integrative tests.

Keywords: Integrative testing, C-test, Cloze test, theTOEFL, Validity.

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Authors: N. Nacereddine, M. Zelmat, S. S. Belaïfa, M. Tridi

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Industrial radiography is a famous technique for the identification and evaluation of discontinuities, or defects, such as cracks, porosity and foreign inclusions found in welded joints. Although this technique has been well developed, improving both the inspection process and operating time, it does suffer from several drawbacks. The poor quality of radiographic images is due to the physical nature of radiography as well as small size of the defects and their poor orientation relatively to the size and thickness of the evaluated parts. Digital image processing techniques allow the interpretation of the image to be automated, avoiding the presence of human operators making the inspection system more reliable, reproducible and faster. This paper describes our attempt to develop and implement digital image processing algorithms for the purpose of automatic defect detection in radiographic images. Because of the complex nature of the considered images, and in order that the detected defect region represents the most accurately possible the real defect, the choice of global and local preprocessing and segmentation methods must be appropriated.

Keywords: Digital image processing, global and localapproaches, radiographic film, weld defect.

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Authors: S. Vanker, A. Aaver, A. Roio, L. Nuut

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To be sure about the effective and less effective/ineffective approaches to course instruction, we hold the opinion that the faculty members need regular feedback from their students in order to be aware of how well or unwell their teaching styles have worked when instructing the courses. It can be confirmed without a slightest hesitation that undergraduate students’ motivated-ness can be sustained when continually improving the quality of teaching and properly sequencing the academic courses both, in the curricula and timetables. At Estonian Aviation Academy, four different forms of feedback are used: Lecture monitoring, questionnaires for all students, study information system subject monitoring and direct feedback received by the lecturer. Questionnaires for all students are arranged once during a study year and separately for the first year and senior students. The results are discussed in academic departments together with student representatives, analyzed with the teaching staff and, if needed, improvements are suggested. In addition, a monitoring system is planned where a lecturer acts in both roles – as an observer and as the lecturer. This will foster better exchange of experience and through this help to make the whole study process more interesting.

Keywords: Student support, learner motivation, feedback, undergraduate education.

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Authors: J. Zamastil, V. Patkos

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Recent progress in calculation of the one-loop selfenergy of the electron bound in the Coulomb field is summarized. The relativistic multipole expansion is introduced. This expansion is based on a single assumption: except for the part of the time component of the electron four-momentum corresponding to the electron rest mass, the exchange of four-momentum between the virtual electron and photon can be treated perturbatively. For non Sstates and normalized difference n3
En −
E1 of the S-states this itself yields very accurate results after taking the method to the third order. For the ground state the perturbation treatment of the electron virtual states with very high three-momentum is to be avoided. For these states one can always rearrange the pertinent expression in such a way that free-particle approximation is allowed. Combination of the relativistic multipole expansion and free-particle approximation yields very accurate result after taking the method to the ninth order. These results are in very good agreement with the previous results obtained by the partial wave expansion and definitely exclude the possibility that the uncertainity in determination of the proton radius comes from the uncertainity in the calculation of the one-loop selfenergy.

Keywords: Hydrogen-like atoms, self-energy.

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Authors: S. Iijima, K. Nakayama, D. Kuchar, M. Kubota, H. Matsuda

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Regenerative Thermal Oxidizer (RTO) is one of the best solutions for removal of Volatile Organic Compounds (VOC) from industrial processes. In the RTO, VOC in a raw gas are usually decomposed at 950-1300 K and the combustion heat of VOC is recovered by regenerative heat exchangers charged with ceramic honeycombs. The optimization of the treatment of VOC leads to the reduction of fuel addition to VOC decomposition, the minimization of CO2 emission and operating cost as well. In the present work, the thermal efficiency of the RTO was investigated experimentally in a pilot-scale RTO unit using toluene as a typical representative of VOC. As a result, it was recognized that the radiative heat transfer was dominant in the preheating process of a raw gas when the gas flow rate was relatively low. Further, it was found that a minimum heat exchanger volume to achieve self combustion of toluene without additional heating of the RTO by fuel combustion was dependent on both the flow rate of a raw gas and the concentration of toluene. The thermal efficiency calculated from fuel consumption and the decomposed toluene ratio, was found to have a maximum value of 0.95 at a raw gas mass flow rate of 1810 kg·h-1 and honeycombs height of 1.5m.

Keywords: Regenerative Heat Exchange, Self Combustion, Toluene, Volatile Organic Compounds.

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Authors: Brownhilder N. Neneh, A. Van Aardt Smit

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Underpricing is one anomaly in initial public offerings (IPO) literature that has been widely observed across different stock markets with different trends emerging over different time periods. This study seeks to determine how IPOs on the JSE performed on the first day, first week and first month over the period of 1996-2011. Underpricing trends are documented for both hot and cold market periods in terms of four main sectors (cyclical, defensive, growth stock and interest rate sensitive stocks). Using a sample of 360 listed companies on the JSE, the empirical findings established that IPOs on the JSE are significantly underpriced with an average market adjusted first day return of 62.9%. It is also established that hot market IPOs on the JSE are more underpriced than the cold market IPOs. Also observed is the fact that as the offer price per share increases above the median price for any given period, the level of underpricing decreases substantially. While significant differences exist in the level of underpricing of IPOs in the four different sectors in the hot and cold market periods, interest rates sensitive stocks showed a different trend from the other sectors and thus require further investigation to uncover this pattern.

Keywords: Underpricing, hot and cold markets, South Africa, JSE.

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Authors: Narendra Singh Yadav, R.P.Yadav

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Mobile ad hoc network is a collection of mobile nodes communicating through wireless channels without any existing network infrastructure or centralized administration. Because of the limited transmission range of wireless network interfaces, multiple "hops" may be needed to exchange data across the network. In order to facilitate communication within the network, a routing protocol is used to discover routes between nodes. The primary goal of such an ad hoc network routing protocol is correct and efficient route establishment between a pair of nodes so that messages may be delivered in a timely manner. Route construction should be done with a minimum of overhead and bandwidth consumption. This paper examines two routing protocols for mobile ad hoc networks– the Destination Sequenced Distance Vector (DSDV), the table- driven protocol and the Ad hoc On- Demand Distance Vector routing (AODV), an On –Demand protocol and evaluates both protocols based on packet delivery fraction, normalized routing load, average delay and throughput while varying number of nodes, speed and pause time.

Keywords: AODV, DSDV, MANET, relative performance

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Authors: J. Ruenin, S. Sukprasong, R. Phatthanakun, N. Chomnawang, P. Kuntanawat

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In this paper, a simple microfluidic device for monitoring algal cell behavior is proposed. An array of algal microwells is fabricated by PDMS soft-lithography using X-ray LIGA mold, placed on a glass substrate. Two layers of replicated PDMS and substrate are attached by oxygen plasma bonding, creating a microchannel for the microfluidic system. Algal cell are loaded into the microfluidic device, which provides positive charge on the bottom surface of wells. Algal cells, which are negative charged, can be attracted to the bottom of the wells via electrostatic interaction. By varying the concentration of algal cells in the loading suspension, it is possible to obtain wells with a single cell. Liquid medium for cells monitoring are flown continuously over the wells, providing nutrient and waste exchange between the well and the main flow. This device could lead to the uncovering of the quantitative biology of the algae, which is a key to effective and extensive algal utilizations in the field of biotechnology, food industry and bioenergy research and developments.

Keywords: Algal cells, microfluidic device, X-ray LIGA, X-ray lithography, metallic mold, synchrotron light, PDMS

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Authors: Saad M. Howladar, Mike Dennett

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The effect of exogenous application; seed priming or foliar spraying of salicylic acid (SA) on Yecora Rojo and Paragon wheat cv. under NaCl-salinity. Gas exchange parameters, growth parameters, yield and yield components were reduced in both cultivars under salinity stress with foliar spray and soaking seeds. Exogenous application of SA through foliar spraying or seed soaking showed a slight increases or decreases with the application method or between cultivars. SA foliar spraying exhibited a slight improvement over SA seed soaking in most parameters, particularly in Paragon. Although, seed soaking was less effective than foliar spraying, it was a slightly better with Yecora Rojo in some parameters. However, the low SA concentration; 0.5mM tended to improve most parameters in both cultivars. From data of the experiment, it has been concluded that the effect of SA depends on cultivar genotype and SA concentration.

Keywords: Salinity, Salicylic acid, Growth parameters, yield components, Wheat cultivars.

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Authors: Despina Galani, Anastasios Alexandridis, Antonios Stavropoulos

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The main thrust of this paper is to assess the level of disclosure in the annual reports of non-financial Greek firms and to empirically investigate the hypothesized impact of several firm characteristics on the extent of mandatory disclosure. A disclosure checklist consisting of 100 mandatory items was developed to assess the level of disclosure in the 2009 annual reports of 43 Greek companies listed at the Athens stock exchange. The association between the level of disclosure and some firm characteristics was examined using multiple linear regression analysis. The study reveals that Greek companies on general have responded adequately to the mandatory disclosure requirements of the regulatory bodies. The findings also indicate that firm size was significant positively associated with the level of disclosure. The remaining variables such as age, profitability, liquidity, and board composition were found to be insignificant in explaining the variation of mandatory disclosures. The outcome of this study is undoubtedly of great concern to the investment community at large to assist in evaluating the extent of mandatory disclosure by Greek firms and explaining the variation of disclosure in light of firm-specific characteristics.

Keywords: Mandatory disclosure, Annual report, Disclosure index

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Authors: Lee Bih Ni, Kiu Su Na

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This paper discusses the Chinese Language Teaching as a Second Language by focusing on Immersion Teaching. Researchers used narrative literature review to describe the current states of both art and science in focused areas of inquiry. Immersion teaching comes with a standard that teachers must reliably meet. Chinese language-immersion instruction consists of language and content lessons, including functional usage of the language, academic language, authentic language, and correct Chinese sociocultural language. Researchers used narrative literature reviews to build a scientific knowledge base. Researchers collected all the important points of discussion, and put them here with reference to the specific field where this paper is originally based on. The findings show that Chinese Language in immersion teaching is not like standard foreign language classroom; immersion setting provides more opportunities to teach students colloquial language than academic. Immersion techniques also introduce a language’s cultural and social contexts in a meaningful and memorable way. It is particularly important that immersion teachers connect classwork with real-life experiences. Immersion also includes more elements of discovery and inquiry based learning than do other kinds of instructional practices. Students are always and consistently interpreted the conclusions and context clues.

Keywords: A second language, Chinese language teaching, immersion teaching, instructional strategies.

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Authors: Ashkan Mirzay Fashami

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This study examines the effects of auditor switch, auditee’s industry, and auditee’s location on audit fees in Australia. It uses fee data of Australian Securities Exchange 500 companies, considering all industry classifications throughout the country from 2006 until 2016. Main findings show that auditor switch does not affect audit fees. However, auditee’s industry affects audit fees. This effect occurs in information technology, financials, energy, and materials sectors among the top 500 companies. Financials, energy, and materials sectors face a fee rise, whereas information technology has a fee cut. The extent of fee changes is different among various industries, wherein the financial sector has the highest increase. Further, auditee’s location affects audit fees. Top 500 companies in Hobart, Perth, and Brisbane face a fee reduction, wherein the highest cut is in Hobart. Further analysis suggests that the Australian audit market is being increasingly concentrated in the hands of the Big Four audit firms.

Keywords: Audit fee, auditor switch, Australia, industry, location.

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Authors: V. Benidze

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After the Rose Revolution of 2003, Georgia has achieved an unparalleled socioeconomic success. However, economic growth since 2012 has been sluggish and certainly not enough to rapidly improve the county’s standard of living that still remains substantially low compared to that in developed nations. Recent poor economic performance has shown that some key challenges need to be addressed if Georgia is to achieve high future economic growth that will decrease the poverty rate and create a middle class in the country. This paper offers in detail analysis of the economic performance of Georgia since 2012 and identifies key challenges facing the country’s economy. The main challenge going forward will be transforming Georgia from a consumption-driven to a production-oriented economy. It is identified that mobilizing domestic investment through savings, attracting foreign investment in tradable sectors and expanding the country’s export base will be crucial in the facilitation of the above-mentioned structural transformation. As the outcome of the research, the paper suggests a strategy for accelerating Georgia’ future economic growth and offers recommendations based on the relevant conclusions.

Keywords: Challenges, development, economic growth, economic policy, Georgia.

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Authors: Apirada Chinprateep

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The ASEAN Economic Community (AEC) is the goal of regional economic integration by 2015. In the region, tourism is an activity that is important, especially as a source of foreign currency, a source of employment creation and a source of income bringing to the region. Given the complexity of the issues entailing the concept of sustainable tourism, this paper tries to assess tourism sustainability with the ASEAN, based on a number of quantitative indicators for all the ten economies, Thailand, Myanmar, Laos, Vietnam, Malaysia, Singapore, Indonesia, Philippines, Cambodia, and Brunei. The methodological framework will provide a number of benchmarks of tourism activities in these countries. They include identification of the dimensions; for example, economic, socio-ecologic, infrastructure and indicators, method of scaling, chart representation and evaluation on Asian countries. This specification shows that a similar level of tourism activity might introduce different implementation in the tourism activity and might have different consequences for the socioecological environment and sustainability. The heterogeneity of developing countries exposed briefly here would be useful to detect and prepare for coping with the main problems of each country in their tourism activities, as well as competitiveness and value creation of tourism for ASEAN economic community, and will compare with other parts of the world.

Keywords: AEC, ASEAN, sustainable, tourism, competitiveness.

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Authors: S. N. S. Thein, H. L. Yang, Z. B. Liu

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There are many modes of transport. Among them, maritime transport is a major transportation mode of international trade. In the Republic of the Union of Myanmar (Burma), water transportation served as one of the most important modes of transport for country's exports and imports. Getting the accurate information and data-gathering activity are the most important aspects for any study field. Therefore, in this research, a historical review of the development of ports in Myanmar and how they have changed had been carried out. All the relevant literature and documents have also been reviewed, studied, and organized. The sources of collected data are from reports, journals, internet, as well as from the publications of authorized organizations and international associations. To get better understanding about real situation of maritime transport and logistics in Myanmar; current condition of existing ports, expansion and on-going projects, and future port development plans are described successively. Hence, the main purpose of this study is to build up a comprehensive picture of maritime transport and logistics, in addition to border trade within ASEAN and Myanmar. It will help for academic researchers, decision makers, and stakeholders for national planning as well as for the local and foreign investors to recognize current situation of maritime transport and logistics in Myanmar.

Keywords: ASEAN, border trade, logistics, maritime transport, ports of Myanmar.

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Authors: S. Levitsky

Abstract:

Acoustic properties of polymeric liquids are high sensitive to free gas traces in the form of fine bubbles. Their presence is typical for such liquids because of chemical reactions, small wettability of solid boundaries, trapping of air in technological operations, etc. Liquid temperature influences essentially its rheological properties, which may have an impact on the bubble pulsations and sound propagation in the system. The target of the paper is modeling of the liquid temperature effect on single bubble dynamics and sound dispersion and attenuation in polymeric solution with spherical gas bubbles. The basic sources of attenuation (heat exchange between gas in microbubbles and surrounding liquid, rheological and acoustic losses) are taken into account. It is supposed that in the studied temperature range the interface mass transfer has a minor effect on bubble dynamics. The results of the study indicate that temperature raise yields enhancement of bubble pulsations and increase in sound attenuation in the near-resonance range and may have a strong impact on sound dispersion in the liquid-bubble mixture at frequencies close to the resonance frequency of bubbles.

Keywords: Sound propagation, gas bubbles, temperature effect, polymeric liquid.

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Authors: Tri Sulistyaningtyas, Yani Suryani, Dana Waskita, Linda Handayani Sukaemi, Ferry Fauzi Hermawan

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The enthusiasm of foreigners studying the Indonesian language by Foreign Speakers (BIPA) was documented in a sitcom "International Class". Tone and stress when they speak the Indonesian language is unique and different from Indonesian pronunciation. By using the Praat program, this research aims to describe prosodic Indonesian language which is spoken by ‘International Class” actors consisting of Abbas from Nigeria, Lee from Korea, and Kotaro from Japan. Data for the research are taken from the video sitcom "International Class" that aired on Indonesian television. The results of this study revealed that pitch movement that arises when pronouncing Indonesian sentences was up and down gradually, there is also a rise and fall sharply. In terms of stress, respondents tend to contain a lot of stress when pronouncing Indonesian sentences. Meanwhile, in terms of temporal structure, the duration pronouncing Indonesian sentences tends to be longer than that of Indonesian speakers.

Keywords: Melodic structure, temporal structure, prosody, experimental phonetics, international class.

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Authors: Sunday. E. Ogundipe, Abiola Idowu, Lawrencia. O. Ogundipe

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This study examines the impact of working capital management on firms- performance and market value of the firms in Nigeria. A sample of fifty four non-financial quoted firms in Nigeria listed on the Nigeria Stock Exchange was used for this study. Data were collected from annual reports of the sampled firms for the period 1995-2009. This result shows there is a significant negative relationship between cash conversion cycle and market valuation and firm-s performance. It also shows that debt ratio is positively related to market valuation and negatively related firm-s performance. The findings confirm that there is a significant relationship between Market valuation, profitability and working capital component in line with previous studies. This mean that Nigeria firms should ensure adequate management of working capital especially cash conversion cycle components of account receivables, account payables and inventories, as efficiency working capital management is expected to contribute positively to the firms- market value.

Keywords: Cash Conversion Cycle, Firms' Performance, Market Valuation, Working Capital Management

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Authors: S. Padma, Dr. R. Lakshmipathi, K. Ramash Kumar, P. Nandagopal

Abstract:

The power system network is becoming more complex nowadays and it is very difficult to maintain the stability of the system. Today-s enhancement of technology makes it possible to include new energy storage devices in the electric power system. In addition, with the aid of power electronic devices, it is possible to independently exchange active and reactive power flow with the utility grid. The main purpose of this paper proposes a Proportional – Integral (PI) control based 48 – pulse Inverter based Static Synchronous Series Compensator (SSSC) with and without Superconducting Magnetic Energy Storage (SMES) used for enhancing the transient stability and regulating power flow in automatic mode. Using a test power system through the dynamic simulation in Matlab/Simulink platform validates the performance of the proposed SSSC with and without SMES system.

Keywords: Flexible AC transmission system (FACTS), PIControl, Superconducting Magnetic Energy Storage (SMES), Static Synchronous Series Compensator (SSSC).

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Authors: Syed Kamarul Bakri Syed Ahmad Bokharey, Kalaikumar Vallyutham, Narayanan Sambu Potty, Nabilah Abu Bakar

Abstract:

Infrastructure investments are important in developing countries, it will not only help to foster the economic growth of a nation, but it will also act as a platform in which new forms of partnership and collaboration can be developed mainly in East Asian countries. Since the last two decades, many infrastructure projects had been completed through build-operate-transfer (BOT) type of procurement. The developments of BOT have attracted participation of local and foreign private sector investor to secure funding and to deliver projects on time, within the budget and to the required specifications. Private sectors are preferred by the government in East Asia to participate in BOT projects due to lack of public funding. The finding has resulted that the private sector or promoter of the BOT projects is exposed to multiple risks which have been discussed in this paper. Effective risk management methods and good managerial skills are required in ensuring the success of the project. The review indicated that mitigation measures should be employed by the promoter throughout the concession period and support from the host government is also required in ensuring the success of the BOT project.

Keywords: BOT project, risks management, concessionaire, consortium.

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