Search results for: production markets
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2248

Search results for: production markets

1708 Bioethanol - A Viable Answer to India-s Surging Energy Needs

Authors: Pranav Raghav Sood

Abstract:

India is currently the second most populous nation in the world with over 1.2 billion people, growing annually at the rate of 1.5%. It is experiencing a surge in energy demands, expected to grow more than three to four times in 25 years. Most of the energy requirements are currently satisfied by the import of fossil fuels – coal, petroleum-based products and natural gas. Biofuels can satisfy these energy needs in an environmentally benign and cost effective manner while reducing dependence on import of fossil fuels, thus providing National Energy Security. Among various forms of bioenergy, bioethanol is one of the major options for India because of availability of feed stock crops. This paper presents an overview on bioethanol production and technology, steps taken by the Indian government to facilitate and bring about optimal development and utilization of indigenous biomass feedstocks for production of this biofuel.

Keywords: Bioethanol, Fossil fuel, Biofuel, energy

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1707 Extensiveness and Effectiveness of Corporate Governance Regulations in South-Eastern Europe

Authors: Ana Bobirca, Paul-Gabriel Miclaus

Abstract:

The purpose of the article is to illustrate the main characteristics of the corporate governance challenge facing the countries of South-Eastern Europe (SEE) and to subsequently determine and assess the extensiveness and effectiveness of corporate governance regulations in these countries. Therefore, we start with an overview on the subject of the key problems of corporate governance in transition. We then address the issue of corporate governance measurement for SEE countries. To this end, we include a review of the methodological framework for determining both the extensiveness and the effectiveness of corporate governance legislation. We then focus on the actual analysis of the quality of corporate governance codes, as well as of legal institutions effectiveness and provide a measure of corporate governance in Romania and other SEE emerging markets. The paper concludes by emphasizing the corporate governance enforcement gap and by identifying research issues that require further study.

Keywords: corporate governance, effectiveness, extensiveness, South-Eastern Europe

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1706 Six Sigma Solutions and its Benefit-Cost Ratio for Quality Improvement

Authors: S. Homrossukon, A. Anurathapunt

Abstract:

This is an application research presenting the improvement of production quality using the six sigma solutions and the analyses of benefit-cost ratio. The case of interest is the production of tile-concrete. Such production has faced with the problem of high nonconforming products from an inappropriate surface coating and had low process capability based on the strength property of tile. Surface coating and tile strength are the most critical to quality of this product. The improvements followed five stages of six sigma solutions. After the improvement, the production yield was improved to 80% as target required and the defective products from coating process was remarkably reduced from 29.40% to 4.09%. The process capability based on the strength quality was increased from 0.87 to 1.08 as customer oriented. The improvement was able to save the materials loss for 3.24 millions baht or 0.11 million dollars. The benefits from the improvement were analyzed from (1) the reduction of the numbers of non conforming tile using its factory price for surface coating improvement and (2) the materials saved from the increment of process capability. The benefit-cost ratio of overall improvement was high as 7.03. It was non valuable investment in define, measure, analyses and the initial of improve stages after that it kept increasing. This was due to there were no benefits in define, measure, and analyze stages of six sigma since these three stages mainly determine the cause of problem and its effects rather than improve the process. The benefit-cost ratio starts existing in the improve stage and go on. Within each stage, the individual benefitcost ratio was much higher than the accumulative one as there was an accumulation of cost since the first stage of six sigma. The consideration of the benefit-cost ratio during the improvement project helps make decisions for cost saving of similar activities during the improvement and for new project. In conclusion, the determination of benefit-cost ratio behavior through out six sigma implementation period provides the useful data for managing quality improvement for the optimal effectiveness. This is the additional outcome from the regular proceeding of six sigma.

Keywords: Six Sigma Solutions, Process Improvement, QualityManagement, Benefit Cost Ratio

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1705 Business Diversification Strategies in the Italian Energy Markets

Authors: F. Di Pillo, G. Capece, L. Cricelli, N. Levialdi

Abstract:

The liberalization and privatization processes have forced public utility companies to face new competitive challenges, implementing strategies to gain market share and, at the same time, keep the old customers. To this end, many companies have carried out mergers, acquisitions and conglomerations in order to diversify their business. This paper focuses on companies operating in the free energy market in Italy. In the last decade, this sector has undergone profound changes that have radically changed the competitive scenario and have led companies to implement diversification strategies of the business. Our work aims to evaluate the economic and financial performances obtained by energy companies, following the beginning of the liberalization process, verifying the possible relationship with the implemented diversification strategies.

Keywords: Business diversification strategies, M&A, the Italian energy market liberalization, economic and financial performances.

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1704 Mind Your Product-Market Strategy on Selecting Marketing Inputs: An Uncertainty Approach in Indian Context

Authors: Susmita Ghosh, Bhaskar Bhowmick

Abstract:

Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirmed the number of factor retention using an alternative factor retention criterion ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation.

Keywords: Uncertainty, market, orientation, competitor, demand.

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1703 Protein Production by Bacillus Subtilis Atcc 21332 in the Presence of Cymbopogon Essential Oils

Authors: Hanina M. N., Hairul Shahril M., Mohd Fazrullah Innsan M. F., Ismatul Nurul Asyikin I., Abdul Jalil A. K, Salina M. R., Ahmad I.B.

Abstract:

Proteins levels produced by bacteria may be increased in stressful surroundings, such as in the presence of antibiotics. It appears that many antimicrobial agents or antibiotics, when used at low concentrations, have in common the ability to activate or repress gene transcription, which is distinct from their inhibitory effect. There have been comparatively few studies on the potential of antibiotics or natural compounds in nature as a specific chemical signal that can trigger a variety of biological functions. Therefore, this study was focusing on the effect of essential oils from Cymbopogon flexuosus and C. nardus in regulating proteins production by Bacillus subtilis ATCC 21332. The Minimum Inhibition Concentrations (MICs) of both essential oils on B. subtilis were determined by using microdilution assay, resulting 0.2% and 1.56% for each C. flexuosus and C. nardus subsequently. The bacteria were further exposed to each essential oils at concentration of 0.01XMIC for 2 days. The proteins were then isolated and analyzed by sodium dodecyl sulfate polyacrylamide gel electrophoresis (SDS-PAGE). Protein profile showed that a band with approximate size of 250 kD was appeared for the treated bacteria with essential oils. Thus, Bacillus subtilis ATCC 21332 in stressful condition with the presence of essential oils at low concentration could induce the protein production.

Keywords: Bacillus subtilis ATCC 21332, Cymbopogon essential oils, protein

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1702 Utilization of Sugarcane Bagasses for Lactic Acid Production by acid Hydrolysis and Fermentation using Lactobacillus sp

Authors: Woranart Jonglertjunya, Nattawadee Pranrawang, Nuanyai Phookongka, Thanasak Sridangtip, Watthana Sawedrungreang, Chularat Krongtaew

Abstract:

Sugarcane bagasses are one of the most extensively used agricultural residues. Using acid hydrolysis and fermentation, conversion of sugarcane bagasses to lactic acid was technically and economically feasible. This research was concerned with the solubility of lignin in ammonium hydroxide, acid hydrolysis and lactic acid fermentation by Lactococcus lactis, Lactobacillus delbrueckii, Lactobacillus plantarum, and Lactobacillus casei. The lignin extraction results for different ammonium hydroxide concentrations showed that 10 % (v/v) NH4OH was favorable to lignin dissolution. Acid hydrolysis can be enhanced with increasing acid concentration and reaction temperature. The optimum glucose and xylose concentrations occurred at 121 ○C for 1 hour hydrolysis time in 10% sulphuric acid solution were 32 and 11 g/l, respectively. In order to investigate the significance of medium composition on lactic acid production, experiments were undertaken whereby a culture of Lactococcus lactis was grown under various glucose, peptone, yeast extract and xylose concentrations. The optimum medium was composed of 5 g/l glucose, 2.5 g/l xylose, 10 g/l peptone and 5 g/l yeast extract. Lactococcus lactis represents the most efficient for lactic acid production amongst those considered. The lactic acid fermentation by Lactococcus lactis after 72 hours gave the highest yield of 1.4 (g lactic acid per g reducing sugar).

Keywords: sugarcane bagasses, acid hydrolysis, lactic acid, fermentation

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1701 Evaluation of the Magnesium Wastes with Boron Oxide in Magnesium Borate Synthesis

Authors: A. S. Kipcak, F. T. Senberber, E. Moroydor Derun, S. Piskin

Abstract:

Magnesium wastes and scraps, one of the metal wastes, are produced by many industrial activities, all over the world. Their growing size is becoming a future problem for the world. In this study, the use of magnesium wastes as a raw material in the production of the magnesium borate hydrates are aimed. The method used in the experiments is hydrothermal synthesis. The conditions are set to, waste magnesium to B2O3, 1:3 as a molar ratio. Four different reaction times are studied which are 30, 60, 120 and 240 minutes. For the identification analyses X-Ray Diffraction (XRD), Fourier Transform Infrared Spectroscopy (FT-IR) and Raman spectroscopy techniques are used. As a result at all the reaction times magnesium borate hydrates are synthesized and the most crystalline forms are obtained at a reaction time of 120 minutes. The overall yields of the production are found between the values of 65-80 %.

Keywords: Hydrothermal synthesis, magnesium borates, magnesium wastes, boron oxide

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1700 Efficiency of Investments, Financed from EU Funds in Small and Medium Enterprises in Poland

Authors: Jolanta Brodowska-Szewczuk

Abstract:

The article includes the results and conclusions from empirical researches that had been done. The research focuses on the impact of investments made in small and medium-sized enterprises financed from EU funds on the competitiveness of these companies. The researches includes financial results in sales revenue and net income, expenses, and many other new products/services on offer, higher quality products and services, more modern methods of production, innovation in management processes, increase in the number of customers, increase in market share, increase in profitability of production and provision of services. The main conclusions are that, companies with direct investments under this measure shall apply the modern methods of production. The consequence of this is to increase the quality of our products and services. Furthermore, both small and medium-sized enterprises have introduced new products and services. Investments were carried out, thus enabling better work organization in enterprises. Entrepreneurs would guarantee higher quality of service, which would result in better relationships with their customers, what is more, noting the rise in number of clients. More than half of the companies indicated that the investments contributed to the increase in market share. Same thing as for market reach and brand recognition of particular company. An interesting finding is that, investments in small enterprises were more effective than medium-sized enterprises.

Keywords: Competitiveness, efficiency, EU funds, small and medium-sized enterprises.

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1699 Prospects of Iraq’s Maritime Openness and Their Effect on Its Economy

Authors: Mohanad Hammad

Abstract:

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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1698 Consumer Adoption - Risk Factor of Mobile Banking Services

Authors: Esad Kadušić, Petar Bojović, Amela Žgalj

Abstract:

Mobile banking services present a unique growth opportunity for mobile operators in emerging markets, and have already made good progress in bringing financial services to the previously unbanked populations of many developing countries. The potential is amazing, but what about the risks? In the complex process of establishing a mobile banking business model, many kinds of risks and factors need to be monitored and well-managed. Risk identification is the first stage of risk management. Correct risk identification ensures risk management effectiveness. Keeping the risks low makes it possible to use the full potential of mobile banking and carry out the planned business strategy. The focus should be on adoption of consumers which is the main risk factor of mobile banking services.

Keywords: Consumer Adoption, Mobile Banking, Risk

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1697 Analyzing Convergence of IT and Energy Industry Based on Social System Framework

Authors: Giseob Byun, Ji Yeon Cho, Bong Gyou Lee

Abstract:

The purpose of this study is to analyze Green IT industry in major developed countries and to suggest overall directions for IT-Energy convergence industry. Recently, IT industry is pointed out as a problem such as environmental pollution, energy exhaustion, and high energy consumption. Therefore, Green IT gets focused which concerns as solution of these problems. However, since it is a beginning stage of this convergence area, there are only a few studies of IT-Energy convergence industry. According to this, this study examined the major developed countries in terms of institution arrangements, resources, markets and companies based on Van de Ven(1999)'s social system framework that shows relationship among key components of industrial infrastructure. Subsequently, the direction of the future study of convergence on IT and Energy industry is proposed.

Keywords: Green IT, Energy industry, Convergence, Social System Framework.

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1696 Identifying and Prioritizing Goals of Joint Venture between Manufacturing Cooperative Firms, using TOPSIS

Authors: H. Zare Amadabadi, S. Soltani Gerdefaramarzi

Abstract:

In recent years, strategic alliances have taken increasing importance as a means to control competitive forces and to enter into new markets. Joint ventures are one of the most frequently used contractual forms in strategic alliances. There are various motivations for cooperation between two or more firms e.g., accessing to technical know-how, accessing to financial resources and managing risks. The firms must know about these motivations to encourage for establishing joint venture. So, it is important for managers to understand about these motives. On the other hand, the cooperation section is one of the most effective parts in each country. In this way, our study identifies goals of joint venture between cooperative manufacturing firms, and prioritizes those using TOPSIS1. The results show that the most important of joint venture goals are: accessing to managerial know-how, sharing total capital investment.

Keywords: Cooperative, Joint Venture, TOPSIS

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1695 A Multiple-Objective Environmental Rationalization and Optimization for Material Substitution in the Production of Stone-Washed Jeans- Garments

Authors: Nabil A. Ibrahim, Nabil M. Abdel Moneim, Mohamed A. Ramadan, Marwa M. Hosni

Abstract:

As the Textile Industry is the second largest industry in Egypt and as small and medium-sized enterprises (SMEs) make up a great portion of this industry therein it is essential to apply the concept of Cleaner Production for the purpose of reducing pollution. In order to achieve this goal, a case study concerned with ecofriendly stone-washing of jeans-garments was investigated. A raw material-substitution option was adopted whereby the toxic potassium permanganate and sodium sulfide were replaced by the environmentally compatible hydrogen peroxide and glucose respectively where the concentrations of both replaced chemicals together with the operating time were optimized. In addition, a process-rationalization option involving four additional processes was investigated. By means of criteria such as product quality, effluent analysis, mass and heat balance; and cost analysis with the aid of a statistical model, a process optimization treatment revealed that the superior process optima were 50%, 0.15% and 50min for H2O2 concentration, glucose concentration and time, respectively. With these values the superior process ought to reduce the annual cost by about EGP 105 relative to the currently used conventional method.

Keywords: Cleaner Production, Eco-friendly of jeans garments, Stone washing, Textile Industry, Textile Wet Processing.

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1694 Role of Credit on Production Efficiency of Farming Sector in Pakistan(A Data Envelopment Analysis)

Authors: Saima Ayaz, Zakir Hussain, Maqbool Hussain Sial

Abstract:

The study identified the sources of production inefficiency of the farming sector in district Faisalabad in the Punjab province of Pakistan. Data Envelopment Analysis (DEA) technique was utilized at farm level survey data of 300 farmers for the year 2009. The overall mean efficiency score was 0.78 indicating 22 percent inefficiency of the sample farmers. Computed efficiency scores were then regressed on farm specific variables using Tobit regression analysis. Farming experience, education, access to farming credit, herd size and number of cultivation practices showed constructive and significant effect on the farmer-s technical efficiency.

Keywords: Agricultural credit, DEA, Technical efficiency, Tobit analysis

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1693 Learning Classifier Systems Approach for Automated Discovery of Crisp and Fuzzy Hierarchical Production Rules

Authors: Suraiya Jabin, Kamal K. Bharadwaj

Abstract:

This research presents a system for post processing of data that takes mined flat rules as input and discovers crisp as well as fuzzy hierarchical structures using Learning Classifier System approach. Learning Classifier System (LCS) is basically a machine learning technique that combines evolutionary computing, reinforcement learning, supervised or unsupervised learning and heuristics to produce adaptive systems. A LCS learns by interacting with an environment from which it receives feedback in the form of numerical reward. Learning is achieved by trying to maximize the amount of reward received. Crisp description for a concept usually cannot represent human knowledge completely and practically. In the proposed Learning Classifier System initial population is constructed as a random collection of HPR–trees (related production rules) and crisp / fuzzy hierarchies are evolved. A fuzzy subsumption relation is suggested for the proposed system and based on Subsumption Matrix (SM), a suitable fitness function is proposed. Suitable genetic operators are proposed for the chosen chromosome representation method. For implementing reinforcement a suitable reward and punishment scheme is also proposed. Experimental results are presented to demonstrate the performance of the proposed system.

Keywords: Hierarchical Production Rule, Data Mining, Learning Classifier System, Fuzzy Subsumption Relation, Subsumption matrix, Reinforcement Learning.

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1692 Effect of Different Salts on Pseudomonas taetrolens’ Ability to Lactobionic Acid Production

Authors: I. Sarenkova, I. Ciprovica, I. Cinkmanis

Abstract:

Lactobionic acid is a disaccharide formed from gluconic acid and galactose, and produced by oxidation of lactose. Productivity of lactobionic acid by microbial synthesis can be affected by various factors, and one of them is a presence of potassium, magnesium and manganese ions. In order to extend lactobionic acid production efficiency, it is necessary to increase the yield of lactobionic acid by optimising the fermentation conditions and available substrates for Pseudomonas taetrolens growth. The object of the research was to determinate the application of K2HPO4, MnSO4, MgSO4 × 7H2O salts in different concentration for effective lactose oxidation to lactobionic acid by Pseudomonas taetrolens. Pseudomonas taetrolens NCIB 9396 (NCTC, England) and Pseudomonas taetrolens DSM 21104 (DSMZ, Germany) were used for the study. The acid whey was used as the study object. The content of lactose in whey samples was determined using MilcoScanTM Mars (Foss, Denmark) and high performance liquid chromatography (Shimadzu LC 20 Prominence, Japan). The content of lactobionic acid in whey samples was determined using the high performance liquid chromatography. The impact of studied salts differs, Mn2+ and Mg2+ ions enhanced fermentation instead of K+ ions. Results approved that Mn2+ and Mg2+ ions are necessary for Pseudomonas taetrolens growth. The study results will help to improve the effectiveness of lactobionic acid production with Pseudomonas taetrolens NCIB 9396 and DSM 21104.

Keywords: lactobionic acid, lactose oxidation, Pseudomonas taetrolens, whey.

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1691 Microbial Oil Production by Mixed Culture of Microalgae Chlorella sp. KKU-S2 and Yeast Torulaspora maleeae Y30

Authors: Ratanaporn Leesing, Rattanaporn Baojungharn, Thidarat Papone

Abstract:

Compared to oil production from microorganisms, little work has been performed for mixed culture of microalgae and yeast. In this article it is aimed to show high oil accumulation potential of mixed culture of microalgae Chlorella sp. KKU-S2 and oleaginous yeast Torulaspora maleeae Y30 using sugarcane molasses as substrate. The monoculture of T. maleeae Y30 grew faster than that of microalgae Chlorella sp. KKU-S2. In monoculture of yeast, a biomass of 6.4g/L with specific growth rate (m) of 0.265 (1/d) and lipid yield of 0.466g/L were obtained, while 2.53g/L of biomass with m of 0.133 (1/d) and lipid yield of 0.132g/L were obtained for monoculture of Chlorella sp. KKU-S2. The biomass concentration in the mixed culture of T. maleeae Y30 with Chlorella sp. KKU-S2 increased faster and was higher compared with that in the monoculture and mixed culture of microalgae. In mixed culture of microalgae Chlorella sp. KKU-S2 and C. vulgaris TISTR8580, a biomass of 3.47g/L and lipid yield of 0.123 g/L were obtained. In mixed culture of T. maleeae Y30 with Chlorella sp. KKU-S2, a maximum biomass of 7.33 g/L and lipid yield of 0.808g/L were obtained. Maximum cell yield coefficient (YX/S, 0.229g/L), specific yield of lipid (YP/X, 0.11g lipid/g cells) and volumetric lipid production rate (QP, 0.115 g/L/d) were obtained in mixed culture of yeast and microalgae. Clearly, T. maleeae Y30 and Chlorella sp. KKU-S2 use sugarcane molasses as organic nutrients efficiently in mixed culture under mixotrophic growth. The biomass productivity and lipid yield are notably enhanced in comparison with monoculture.

Keywords: Microbial oil, Chlorella sp. KKU-S2, Chlorella vulgaris, Torulaspora maleeae Y30, mixed culture, biodiesel.

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1690 Manufacturing Process and Cost Estimation through Process Detection by Applying Image Processing Technique

Authors: Chalakorn Chitsaart, Suchada Rianmora, Noppawat Vongpiyasatit

Abstract:

In order to reduce the transportation time and cost for direct interface between customer and manufacturer, the image processing technique has been introduced in this research where designing part and defining manufacturing process can be performed quickly. A3D virtual model is directly generated from a series of multi-view images of an object, and it can be modified, analyzed, and improved the structure, or function for the further implementations, such as computer-aided manufacturing (CAM). To estimate and quote the production cost, the user-friendly platform has been developed in this research where the appropriate manufacturing parameters and process detections have been identified and planned by CAM simulation.

Keywords: Image processing technique, Feature detections, Surface registrations, Capturing multi-view images, Production costs, and Manufacturing processes.

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1689 Customer Knowledge and Service Development, the Web 2.0 Role in Co-production

Authors: Roberto Boselli, Mirko Cesarini, Mario Mezzanzanica

Abstract:

The paper is concerned with relationships between SSME and ICTs and focuses on the role of Web 2.0 tools in the service development process. The research presented aims at exploring how collaborative technologies can support and improve service processes, highlighting customer centrality and value coproduction. The core idea of the paper is the centrality of user participation and the collaborative technologies as enabling factors; Wikipedia is analyzed as an example. The result of such analysis is the identification and description of a pattern characterising specific services in which users collaborate by means of web tools with value co-producers during the service process. The pattern of collaborative co-production concerning several categories of services including knowledge based services is then discussed.

Keywords: Service Interaction Patterns, Services Science, Web2.0 tools, Service Development Process.

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1688 Partner Selection in International Strategic Alliances: The Case of the Information Industry

Authors: H. Nakamura

Abstract:

This study analyzes international strategic alliances in the information industry. The purpose of this study is to clarify the strategic intention of an international alliance. Secondly, it investigates the influence of differences in the target markets of partner companies on alliances. Using an international strategy theory approach to analyze the global strategies of global companies, the study compares a database business and an electronic publishing business. In particular, these cases emphasized factors attributable to "people" and "learning", reliability and communication between organizations and the evolution of the IT infrastructure. The theory evolved in this study validates the effectiveness of these strategies.

Keywords: Database business, electronic library, international strategic alliances, partner selection.

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1687 An Institutional Analysis of IFRS Adoption in Poor Jurisdictions

Authors: C. F. Pricope

Abstract:

The last two decades witnessed a movement towards harmonization of international financial reporting standards (IFRS) throughout the global economy. This investigation seeks to identify the factors that could explain the adoption of IFRS by poor jurisdictions. While there has been a considerable amount of literature published on the effects and key drivers of IFRS adoption in both developed and developing countries, little attention has been paid to jurisdictions with less developed capital markets and low income levels exclusively. Drawing upon the Institutional Isomorphism theory and analyzing a sample of 45 poor jurisdictions between 2008 and 2013, the study empirically shows that poor jurisdictions are driven by legitimacy concerns rather than by economic reasoning to adopt an international accounting perspective. This in turn has implications for the IASB, as it should seek to influence institutional pressures within a particular jurisdiction in order to promote IFRS adoption.

Keywords: IFRS Adoption, isomorphism, poor jurisdictions, accounting harmonization.

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1686 Estimation of Production Function in Fishery on the Coasts of Caspian Sea

Authors: Komeil Jahanifar, Zahra Abedi, Yaghob Zeraatkish

Abstract:

This research was conducted for the first time at the southeastern coasts of the Caspian Sea in order to evaluate the performance of osteichthyes cooperatives through production (catch) function. Using one of the indirect valuation methods in this research, contributory factors in catch were identified and were inserted into the function as independent variables. In order to carry out this research, the performance of 25 Osteichthyes catching cooperatives in the utilization year of 2009 which were involved in fishing in Miankale wildlife refuge region. The contributory factors in catch were divided into groups of economic, ecological and biological factors. In the mentioned function, catch rate of the cooperative were inserted into as the dependant variable and fourteen partial variables in terms of nine general variables as independent variables. Finally, after function estimation, seven variables were rendered significant at 99 percent reliably level. The results of the function estimation indicated that human resource (fisherman quantity) had the greatest positive effect on catch rate with an influence coefficient of 1.7 while weather conditions had the greatest negative effect on the catch rate of cooperatives with an influence coefficient of -2.07. Moreover, factors like member's share, experience and fisherman training and fishing effort played the main roles in the catch rate of cooperative with influence coefficients of 0.81, 0.5 and 0.21, respectively.

Keywords: Production Function, Coefficient, Variable, Osteichthyes, Caspian Sea

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1685 Taguchi Robust Design for Optimal Setting of Process Wastes Parameters in an Automotive Parts Manufacturing Company

Authors: Charles Chikwendu Okpala, Christopher Chukwutoo Ihueze

Abstract:

As a technique that reduces variation in a product by lessening the sensitivity of the design to sources of variation, rather than by controlling their sources, Taguchi Robust Design entails the designing of ideal goods, by developing a product that has minimal variance in its characteristics and also meets the desired exact performance. This paper examined the concept of the manufacturing approach and its application to brake pad product of an automotive parts manufacturing company. Although the firm claimed that only defects, excess inventory, and over-production were the few wastes that grossly affect their productivity and profitability, a careful study and analysis of their manufacturing processes with the application of Single Minute Exchange of Dies (SMED) tool showed that the waste of waiting is the fourth waste that bedevils the firm. The selection of the Taguchi L9 orthogonal array which is based on the four parameters and the three levels of variation for each parameter revealed that with a range of 2.17, that waiting is the major waste that the company must reduce in order to continue to be viable. Also, to enhance the company’s throughput and profitability, the wastes of over-production, excess inventory, and defects with ranges of 2.01, 1.46, and 0.82, ranking second, third, and fourth respectively must also be reduced to the barest minimum. After proposing -33.84 as the highest optimum Signal-to-Noise ratio to be maintained for the waste of waiting, the paper advocated for the adoption of all the tools and techniques of Lean Production System (LPS), and Continuous Improvement (CI), and concluded by recommending SMED in order to drastically reduce set up time which leads to unnecessary waiting.

Keywords: Taguchi Robust Design, signal to noise ratio, Single Minute Exchange of Dies, lean production system, waste.

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1684 Gasoline and Diesel Production via Fischer- Tropsch Synthesis over Cobalt Based Catalyst

Authors: N. Choosri, N. Swadchaipong, T. Utistham, U. W. Hartley

Abstract:

Performance of a cobalt doped sol-gel derived silica (Co/SiO2) catalyst for Fischer–Tropsch synthesis (FTS) in slurryphase reactor was studied using paraffin wax as initial liquid media. The reactive mixed gas, hydrogen (H2) and carbon monoxide (CO) in a molar ratio of 2:1, was flowed at 50 ml/min. Braunauer-Emmett- Teller (BET) surface area and X-ray diffraction (XRD) techniques were employed to characterize both the specific surface area and crystallinity of the catalyst, respectively. The reduction behavior of Co/SiO2 catalyst was investigated using the Temperature Programmmed Reduction (TPR) method. Operating temperatures were varied from 493 to 533K to find the optimum conditions to maximize liquid fuels production, gasoline and diesel.

Keywords: Fischer Tropsch synthesis, slurry phase, Co/SiO2, operating temperature.

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1683 Evolutionary Algorithm Based Centralized Congestion Management for Multilateral Transactions

Authors: T. Mathumathi, S. Ganesh, R. Gunabalan

Abstract:

This work presents an approach for AC load flow based centralized model for congestion management in the forward markets. In this model, transaction maximizes its profit under the limits of transmission line capacities allocated by Independent System Operator (ISO). The voltage and reactive power impact of the system are also incorporated in this model. Genetic algorithm is used to solve centralized congestion management problem for multilateral transactions. Results obtained for centralized model using genetic algorithm is compared with Sequential Quadratic Programming (SQP) technique. The statistical performances of various algorithms such as best, worst, mean and standard deviations of social welfare are given. Simulation results clearly demonstrate the better performance of genetic algorithm over SQP.

Keywords: Congestion management, Genetic algorithm, Sequential quadratic programming.

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1682 Application of Ant Colony Optimization for Multi-objective Production Problems

Authors: Teerapun Saeheaw, Nivit Charoenchai, Wichai Chattinnawat

Abstract:

This paper proposes a meta-heuristic called Ant Colony Optimization to solve multi-objective production problems. The multi-objective function is to minimize lead time and work in process. The problem is related to the decision variables, i.e.; distance and process time. According to decision criteria, the mathematical model is formulated. In order to solve the model an ant colony optimization approach has been developed. The proposed algorithm is parameterized by the number of ant colonies and the number of pheromone trails. One example is given to illustrate the effectiveness of the proposed model. The proposed formulations; Max-Min Ant system are then used to solve the problem and the results evaluate the performance and efficiency of the proposed algorithm using simulation.

Keywords: Ant colony optimization, multi-objective problems.

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1681 Qualitative and Quantitative Characterization of Generated Waste in Nouri Petrochemical Complex, Assaluyeh, Iran

Authors: L. Heidari, M. Jalili Ghazizade

Abstract:

In recent years, different petrochemical complexes have been established to produce aromatic compounds. Among them, Nouri Petrochemical Complex (NPC) is the largest producer of aromatic raw materials in the world, and is located in south of Iran. Environmental concerns have been raised in this region due to generation of different types of solid waste generated in the process of aromatics production, and subsequently, industrial waste characterization has been thoroughly considered. The aim of this study is qualitative and quantitative characterization of industrial waste generated in the aromatics production process and determination of the best method for industrial waste management. For this purpose, all generated industrial waste during the production process was determined using a checklist. Four main industrial wastes were identified as follows: spent industrial soil, spent catalyst, spent molecular sieves and spent N-formyl morpholine (NFM) solvent. The amount of heavy metals and organic compounds in these wastes were further measured in order to identify the nature and toxicity of such a dangerous compound. Then industrial wastes were classified based on lab analysis results as well as using different international lists of hazardous waste identification such as EPA, UNEP and Basel Convention. Finally, the best method of waste disposal is selected based on environmental, economic and technical aspects. 

Keywords: Spent industrial soil, spent molecular sieve, spent normal ¬formyl -morpholine solvent.

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1680 Procedure Model for Data-Driven Decision Support Regarding the Integration of Renewable Energies into Industrial Energy Management

Authors: M. Graus, K. Westhoff, X. Xu

Abstract:

The climate change causes a change in all aspects of society. While the expansion of renewable energies proceeds, industry could not be convinced based on general studies about the potential of demand side management to reinforce smart grid considerations in their operational business. In this article, a procedure model for a case-specific data-driven decision support for industrial energy management based on a holistic data analytics approach is presented. The model is executed on the example of the strategic decision problem, to integrate the aspect of renewable energies into industrial energy management. This question is induced due to considerations of changing the electricity contract model from a standard rate to volatile energy prices corresponding to the energy spot market which is increasingly more affected by renewable energies. The procedure model corresponds to a data analytics process consisting on a data model, analysis, simulation and optimization step. This procedure will help to quantify the potentials of sustainable production concepts based on the data from a factory. The model is validated with data from a printer in analogy to a simple production machine. The overall goal is to establish smart grid principles for industry via the transformation from knowledge-driven to data-driven decisions within manufacturing companies.

Keywords: Data analytics, green production, industrial energy management, optimization, renewable energies, simulation.

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1679 Sustainability Management for Wine Production: A Case of Thailand

Authors: Muthatakul Metasit, Setthasakko Watchaneeporn

Abstract:

At present, increased concerns about global environmental problems have magnified the importance of sustainability management. To move towards sustainability, companies need to look at everything from a holistic perspective in order to understand the interconnections between economic growth and environmental and social sustainability. This paper aims to gain an understanding of key determinants that drive sustainability management and barriers that hinder its development. It employs semi-structured interviews with key informants, site observation and documentation. The informants are production, marketing and environmental managers of the leading wine producer, which aims to become an Asia-s leader in wine & wine based products. It is found that corporate image and top management leadership are the primary factors influencing the adoption of sustainability management. Lack of environmental knowledge and inefficient communication are identified as barriers.

Keywords: Environmental, knowledge; Sustainability management; Top management leadership; Wine industry

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