Search results for: payback period.

Authors: Ashkan Ebadi, Andrea Schiffauerova

Abstract:

Every year, a considerable amount of money is being invested on research, mainly in the form of funding allocated to universities and research institutes. To better distribute the available funds and to set the most proper R&D investment strategies for the future, evaluation of the productivity of the funded researchers and the impact of such funding is crucial. In this paper, using the data on 15 years of journal publications of the NSERC (Natural Sciences and Engineering research Council of Canada) funded researchers and by means of bibliometric analysis, the scientific development of the funded researchers and their scientific collaboration patterns will be investigated in the period of 1996-2010. According to the results it seems that there is a positive relation between the average level of funding and quantity and quality of the scientific output. In addition, whenever funding allocated to the researchers has increased, the number of co-authors per paper has also augmented. Hence, the increase in the level of funding may enable researchers to get involved in larger projects and/or scientific teams and increase their scientific output respectively.

Keywords: Bibliometrics, Collaboration, Funding, Productivity.

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Authors: Edlira Donefski, Tina Donefski, Lorenc Ekonomi

Abstract:

Edgeworth Approximation, Bootstrap and Monte Carlo Simulations have a considerable impact on the achieving certain results related to different problems taken into study. In our paper, we have treated a financial case related to the effect that have the components of a Cash-Flow of one of the most successful businesses in the world, as the financial activity, operational activity and investing activity to the cash and cash equivalents at the end of the three-months period. To have a better view of this case we have created a Vector Autoregression model, and after that we have generated the impulse responses in the terms of Asymptotic Analysis (Edgeworth Approximation), Monte Carlo Simulations and Residual Bootstrap based on the standard errors of every series created. The generated results consisted of the common tendencies for the three methods applied, that consequently verified the advantage of the three methods in the optimization of the model that contains many variants.

Keywords: Autoregression, Bootstrap, Edgeworth Expansion, Monte Carlo Method.

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Authors: T. Tanitteerapan, E.Thanpo

Abstract:

This paper, a simple continuous conduction mode (CCM) pulse-width-modulated (PWM) controller for high power factor boost converters is introduced. The duty ratios were obtained by the comparison of a sensed signal from inductor current or switch current and a negative slope ramp carrier waveform in each switching period. Due to the proposed control requires only the inductor current or switch current sensor and the output voltage sensor, its circuit implementation was very simple. To verify the proposed control, the circuit experimentation of a 350 W boost converter with the proposed control was applied. From the results, the input current waveform was shaped to be closely sinusoidal, implying high power factor and low harmonics.

Keywords: High power factor converters, boost converters, low harmonic rectifiers, power factor correction, and current control.

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Authors: R. Nayak, T. Panwar, R. Padhye

Abstract:

Protective textiles get soiled, stained and even worn during their use, which may not be usable after a certain period due to the loss of protective performance. They need regular cleaning and maintenance, which helps to extend the durability of the clothing, retains their useful properties and ensures that fresh clothing is ready to wear when needed. Generally, the cleaning processes used for various protective clothing include dry-cleaning (using solvents) or wet cleaning (using water). These cleaning processes can alter the fabric surface properties, dimensions, and physical, mechanical and performance properties. The technology of laundering and dry-cleaning has undergone several changes. Sustainable methods and products are available for faster, safer and improved cleaning of protective textiles. We performed a comprehensive and systematic review of green technologies and eco-friendly products for sustainable cleaning of protective textiles. Special emphasis is given on the care and maintenance procedures of protective textiles for protection from fire, bullets, chemical and other types of protective clothing.

Keywords: Sustainable cleaning, protective textiles, eco-friendly cleaning, ozone laundering, ultrasonic cleaning.

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Authors: M. Schulze, P. Crespo Del Granado

Abstract:

This paper considers the influence of promotion instruments for renewable energy sources (RES) on a multi-energy modeling framework. In Europe, so called Feed-in Tariffs are successfully used as incentive structures to increase the amount of energy produced by RES. Because of the stochastic nature of large scale integration of distributed generation, many problems have occurred regarding the quality and stability of supply. Hence, a macroscopic model was developed in order to optimize the power supply of the local energy infrastructure, which includes electricity, natural gas, fuel oil and district heating as energy carriers. Unique features of the model are the integration of RES and the adoption of Feed-in Tariffs into one optimization stage. Sensitivity studies are carried out to examine the system behavior under changing profits for the feed-in of RES. With a setup of three energy exchanging regions and a multi-period optimization, the impact of costs and profits are determined.

Keywords: Distributed generation, optimization methods, power system modeling, renewable energy.

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Authors: Somphoom Sawaengkun

Abstract:

The purpose of this study was primarily assessing how important economic factors namely: The Thai export price of white rice, the exchange rate, and the world rice consumption affect the overall Thai white rice export, using historical data during the period 1989-2013 from the Thai Rice Exporters Association, and Food and Agricultural Organization of the United Nations. The co-integration method, regression analysis, and error correction model were applied to investigate the econometric model. The findings indicated that in the long-run, the world rice consumption, the exchange rate, and the Thai export price of white rice were the important factors affecting the export quantity of Thai white rice respectively, as indicated by their significant coefficients. Meanwhile, the rice export price was an important factor affecting the export quantity of Thai white rice in the short-run. This information is useful in the business, export opportunities, price competitiveness, and policymaker in Thailand.

Keywords: Economic Factors, Rice Export, White Rice.

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Authors: Efat Lali Dastjerdi, Hassan Sadeghi Naeini, Hadi Sanjari

Abstract:

One of the important steps in a safety and risk management system is the economical evaluation of occupational accident and diseases costs in order to decrease accidents from reoccurring in the workplace. This study proposed a plausible method for calculating occupational accident costs and illnesses in work place. This method design for cost estimation takes into account both the personnel, organizational level as well as the community level especially intended for an Iranian work place. The research indicates that a using systematic method for calculating costs which also provides risk evaluation can help managers to plan correctly the investment in health and safety measures. Using this method is that not only is it comprehensive, easy and practical and could be applied in practice by a manager within a short period of time but it also shows the importance of accident costs as well as calculates the real cost of an accident and illnesses.

Keywords: ost calculating model, Economics of health and Safety.

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Authors: Jieh-Haur Chen, Pei-Fen Huang

Abstract:

This paper presents an integrated model that automatically measures the change of rivers, damage area of bridge surroundings, and change of vegetation. The proposed model is on the basis of a neurofuzzy mechanism enhanced by SOM optimization algorithm, and also includes three functions to deal with river imagery. High resolution imagery from FORMOSAT-2 satellite taken before and after the invasion period is adopted. By randomly selecting a bridge out of 129 destroyed bridges, the recognition results show that the average width has increased 66%. The ruined segment of the bridge is located exactly at the most scour region. The vegetation coverage has also reduced to nearly 90% of the original. The results yielded from the proposed model demonstrate a pinpoint accuracy rate at 99.94%. This study brings up a successful tool not only for large-scale damage assessment but for precise measurement to disasters.

Keywords: remote sensing image, damage assessment, typhoon disaster, bridge, ANN, fuzzy, SOM, optimization.

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Authors: Manoela Cabo da Silva, Elton Fernandes, Ricardo Pacheco, Heloisa Pires

Abstract:

This study examined cointegration and causal relationships between economic growth and regular domestic and international passenger air transport in Brazil. Total passengers embarked and disembarked were used as a proxy for air transport activity and gross domestic product (GDP) as a proxy for economic development. The test spanned the period from 2000 to 2015 for domestic passenger traffic and from 1995 to 2015 for international traffic. The results confirm the hypothesis that there is cointegration between passenger traffic series and economic development, showing a bi-directional Granger causal relationship between domestic traffic and economic development and unidirectional influence by economic growth on international passenger air transport demand. Variance decomposition of the series showed that domestic air transport was far more important than international transport to promoting economic development in Brazil.

Keywords: Air passenger transport, cointegration, economic growth, GDP, granger causality.

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Authors: Jung-in Yoon, Seung-taek Oh, Seung-moon Baek, Jun-hyuk Choi, Jong-yeong Byun, Seok-kwon Jeong, Choon-guen Moon

Abstract:

In this study, we experiment on precise control outlet temperature of water from the water cooler with hot-gas bypass method based on PI control logic for machine tool. Recently, technical trend for machine tools is focused on enhancement of speed and accuracy. High speedy processing causes thermal and structural deformation of objects from the machine tools. Water cooler has to be applied to machine tools to reduce the thermal negative influence with accurate temperature controlling system. The goal of this study is to minimize temperature error in steady state. In addition, control period of an electronic expansion valve were considered to increment of lifetime of the machine tools and quality of product with a water cooler.

Keywords: Hot-gas bypass, Water cooler, PI control, Electronic Expansion Valve, Gain tuning

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Authors: B. Prebreza, I. Krasniqi, G. Kabashi, G. Pula, N. Avdiu

Abstract:

This paper discusses aspects of outages in the electric transmission network in the Kosovo Power System caused by the atmospheric discharges.

Frequency and location of the atmospheric discharges in Kosovo territory will be provided by a lightning location system ALARM (Automated Lightning Alert and Risk Management) and from the data from the Meteorological Department in Prishtina International Airport. These data will be used to make comparisons with the actual outages registered in the Kosovo Power System from the Kosovo Transmission, systems and market operator (KOSTT) during a specific time period.

The lines with the worst performance determined, regarding the atmospheric discharges, will be choose for further discussions in terms of over voltages caused by the direct or indirect lightning strokes.

Recommendations for protection in terms of insulator coordination and surge arresters will be given at the end and in this stage dynamic simulation will take part.

Keywords: Atmospheric discharges, dynamic simulations, Kosovo Power System, surge arresters.

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Authors: Chang Lee Shu-Jung, Mei-Se Chien, Chien-Chiang Lee, Hui-Ting Hu

Abstract:

This paper applies recursive cointegration analysis to examine the dynamic changes in Feldstein-Horioka saving-investment (S-I) coefficients across China and the ASEAN-5 countries over time. To the extent that the S-I coefficients measure international capital mobility, the main empirical results are as follows. The recursive trace statistics show that the investment- savings nexus varies in these six countries. There is no cointegration between investment and savings in three countries (China, Malaysia, and Singapore), which means that the mobility of the capital markets in the three is high and that domestic investment in them will be financed by the global pool of capital. As to the other three countries (Indonesia, Thailand, and Philippines), there is cointegration between investment and savings for part of the sample period in the three, including before 2002 for Thailand, before 2001 for Indonesia, and before 2002 for Philippines. This shows these three countries achieved highly mobile and open capital markets later.

Keywords: Investment, savings, recursive cointegration test, ASEAN, China.

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Authors: A. M. Azad, M. Alam, C. M. Hussain

Abstract:

In this paper, we have presented the effect of varying time-delays on performance and stability in the single-channel multirate sampled-data system in hard real-time (RT-Linux) environment. The sampling task require response time that might exceed the capacity of RT-Linux. So a straight implementation with RT-Linux is not feasible, because of the latency of the systems and hence, sampling period should be less to handle this task. The best sampling rate is chosen for the sampled-data system, which is the slowest rate meets all performance requirements. RT-Linux is consistent with its specifications and the resolution of the real-time is considered 0.01 seconds to achieve an efficient result. The test results of our laboratory experiment shows that the multi-rate control technique in hard real-time operating system (RTOS) can improve the stability problem caused by the random access delays and asynchronization.

Keywords: Multi-rate, PID, RT-Linux, Sampled-data, Servo.

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Authors: G. Kim, R. Sterkenburg

Abstract:

One of the disadvantages of honeycomb sandwich structure is that they are prone to fluid intrusion. The purpose of this study is to determine if the structural properties of honeycomb core are affected by contact with a fluid. The test specimens were manufactured of fiberglass prepreg for the facesheets and Nomex^® honeycomb core for the core material in accordance with ASTM C-365/365M. Test specimens were soaked in several different kinds of fluids, such as aircraft fuel, turbine engine oil, hydraulic fluid, and water for a period of 60 days. A flatwise compressive test was performed, and the test results were analyzed to determine how the contact with aircraft fluids affected the compressive strength of the Nomex^® honeycomb core and how the strength was recovered when the specimens were dry. In addition, the investigation of de-bonding between facesheet and core material after soaking were performed to support the study.

Keywords: Debonding, environmental degradation, honeycomb sandwich structure.

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Authors: Nasser Alkorbi, Manuel Hernández-Pérez, Seamus Simpson

Abstract:

Twitter is a platform service that has quickly risen to prominence as the social media platform most preferred for strategic communication campaigns. It is used by most of the Non-Profit Organizations (NPO) in Saudi Arabia, making it the most popular social media platform in the country. Non-Profit Organizations (NPOs) use Twitter to raise awareness of social issues and to communicate with stakeholders. Despite the features Twitter has recently introduced, this paper investigates how NPOs (Foodbanks) in Saudi Arabia use Twitter to raise awareness of food waste, as well as their posting behaviour over a two-year period. By the end of the research, we were able to provide a framework for using Twitter which new or existing NPOs can adopt, as well as helping NPOs (Foodbanks) to recognize and become aware of the impact of Twitter.

Keywords: Awareness, food banks, food waste, Saudi Arabia, social media, Twitter.

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Authors: D. P. Rahardja, A. L. Toleng, M. Yusuf

Abstract:

The objective of this study was to investigate the lifelong effect of in utero nutrition fed at different stages of pregnancy in Bali cows (n = 40): (U1) without in utero nutrition (0 – parturition, negative control); (U2) 0 – 90 d of gestation; (U3) 90 - 180 d of gestation; (U4) 180 d – parturition; and (U5) in utero nutrition along gestation period (0 d to parturition – positive control) on the growth performance of the offspring to weaning age. The results indicated that effect of maternal nutrition on male and female offspring were particularly indicated by the growth performance of both the male and female offspring from birth to weaning.

Keywords: Bali cows, birth weight, maternal nutrition, preweaning daily gain, weaning weight.

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Authors: Mohammadreza Razzazi, Maryam Bayat

Abstract:

Selection of the best possible set of suppliers has a significant impact on the overall profitability and success of any business. For this reason, it is usually necessary to optimize all business processes and to make use of cost-effective alternatives for additional savings. This paper proposes a new efficient context-aware supplier selection model that takes into account possible changes of the environment while significantly reducing selection costs. The proposed model is based on data clustering techniques while inspiring certain principles of online algorithms for an optimally selection of suppliers. Unlike common selection models which re-run the selection algorithm from the scratch-line for any decision-making sub-period on the whole environment, our model considers the changes only and superimposes it to the previously defined best set of suppliers to obtain a new best set of suppliers. Therefore, any recomputation of unchanged elements of the environment is avoided and selection costs are consequently reduced significantly. A numerical evaluation confirms applicability of this model and proves that it is a more optimal solution compared with common static selection models in this field.

Keywords: Supplier Selection, Context-Awareness, OnlineAlgorithms, Data Clustering.

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Authors: N. Areerachakul

Abstract:

In developing countries located in monsoon areas like Thailand where rainwater is currently of no value for urban dwellers due to easily access to piped water supply at each household, studies in rainwater harvesting for domestic use are of low interest. However it is needed to undertake research to find out appropriate rainwater harvesting systems particularly for small urban communities that are recently developed from a full rural structure to urban context. As a matter of fact, in such transitional period, relying on only common water resources is risky. With some specific economic settings, land use patterns, and historical and cultural context that dominate perceptions of water users in the study area, the level of service in this study may certainly be different from megacities or cities located in industrial zone. The overviews of some available technologies and background of rainwater harvesting including alternate resource are included in this paper. Among other sources of water supply, ground water use as the water resource of Thailand and also in the study area.

Keywords: Developing country, water supply, rainwater, ground water.

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Authors: Ε. Giovanis

Abstract:

In this paper we present an autoregressive model with neural networks modeling and standard error backpropagation algorithm training optimization in order to predict the gross domestic product (GDP) growth rate of four countries. Specifically we propose a kind of weighted regression, which can be used for econometric purposes, where the initial inputs are multiplied by the neural networks final optimum weights from input-hidden layer after the training process. The forecasts are compared with those of the ordinary autoregressive model and we conclude that the proposed regression-s forecasting results outperform significant those of autoregressive model in the out-of-sample period. The idea behind this approach is to propose a parametric regression with weighted variables in order to test for the statistical significance and the magnitude of the estimated autoregressive coefficients and simultaneously to estimate the forecasts.

Keywords: Autoregressive model, Error back-propagation Feed-Forward neural networks, , Gross Domestic Product

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Authors: M Nayeripour, E. Azad, A. Roosta, T. Niknam

Abstract:

In this paper, the transformers over-load problem of Shiraz substation in Fars Regional Electric Company (FREC) is investigated for a period of three years plan. So the suggestions for using phase shifting transformer (PST) and unified power flow controller (UPFC) in order to solve this problem are examined in details and finally, some economical and practical designs will be given in order to solve the related problems. Practical consideration and using the basic and fundamental concept of powers in transmission lines in order to find the economical design are the main advantages of this research. The simulation results of the integrated overall system with different designs compare them base on economical and practical aspects to solve the over-load and loss-reduction.

Keywords: Congestion management, Phase shifting transformer(PST), Unified power flow controller (UPFC), Transmission lines.

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Authors: Alexander Schulz, Ingrid Rottensteiner, Manfred Neumann, Michael Wehse, Johann Wassermann

Abstract:

Self-sensing estimates the air gap within an electro magnetic path by analyzing the bearing coil current and/or voltage waveform. The self-sensing concept presented in this paper has been developed within the research project “Active Magnetic Bearings with Supreme Reliability" and is used for position sensor fault detection. Within this new concept gap calculation is carried out by an alldigital analysis of the digitized coil current and voltage waveform. For analysis those time periods within the PWM period are used, which give the best results. Additionally, the concept allows the digital compensation of nonlinearities, for example magnetic saturation, without degrading signal quality. This increases the accuracy and robustness of the air gap estimation and additionally reduces phase delays. Beneath an overview about the developed concept first measurement results are presented which show the potential of this all-digital self-sensing concept.

Keywords: digital signal analysis, active magnetic bearing, reliability, fault detection.

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Authors: Shewit Tsegaye, Fekadu Shewarega

Abstract:

This paper presents a survey of articles, books and reports, which articulate the recent trends and aspects of Security Constrained Economic Dispatch (SCED). The period under consideration is 2008 through 2018. This is done to provide an up-to-date review of the recent major advancements in SCED, the state-of-the-art since 2008, identify further challenging developments needed in smarter grids, and indicate ways to address these challenges. This study consists of three areas of interest, which are very important and relevant for articulating the recent trends of SCED. These areas are: (i) SCED of power system with integrated renewable energy sources (IRES), (ii) SCED with post contingency corrective actions and (iii) Artificial intelligence based SCED.

Keywords: Security constrained economic dispatch, SCED of power system with IRES, SCED with post contingency corrective actions, artificial intelligence based SCED, IRES.

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Authors: Edison Muzenda

Abstract:

A study was carried out to determine the effect of water quality on flotation performance. The experimental test work comprised of batch flotation tests using Denver lab cell for a period of 10 minutes. Nine different test runs were carried out in triplicates to ensure reproducibility using different water types from different thickener overflows, return and sewage effluent water (process water) and portable water. The water sources differed in pH, total dissolved solids, total suspended solids and conductivity. Process water was found to reduce the concentrate recovery and mass pull, while portable water increased the concentrate recovery and mass pull. Portable water reduced the concentrate grade while process water increased the concentrate grade. It is proposed that a combination of process water and portable water supply be used in flotation circuits to balance the different effects that the different water types have on the flotation efficiency.

Keywords: Flotation, mass pull, process water, thickeneroverflows, water quality.

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Authors: Jandot Aurélia

Abstract:

As the nuclear power is a sensitive field leading to controversy, the quality of the communication about it is important. Between 1965 and 1981, in France, this one had gradually changed. This change is studied here in the main French news magazine L’Express, in connection with several parameters. As this represents a huge number of copies and occurrences, thus a considerable amount of information; this paper is focused on the main articles as well as the main “mental images”. These ones are important, as their aim is to direct the thought of the readers, and as they have led the public awareness to evolve. Over this 17 years, two trends are in confrontation: The first one is promoting the perception of the nuclear power, while the second one is discrediting it. These trends are organized in two axes: the evolution of engineering, and the risks. In both cases, the changes in the language allow discerning the deepest intentions of the magazine editing, over a period when the nuclear technology, to there a laboratory object accompanied with mystery and secret, has become a social issue seemingly open to all.

Keywords: French news magazine, mental images, nuclear power, public awareness.

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Authors: M. Pervan, T. Pavic Kramaric

Abstract:

The aim of this paper is to investigate the influence of market share and diversification on the nonlife insurers- performance. The underlying relationships have been investigated in different industries and different disciplines (economics, management...), still, no consistency exists either in the magnitude or statistical significance of the relationship between market share (and diversification as well) on one side and companies- performance on the other side. Moreover, the direction of the relationship is also somewhat questionable. While some authors find this relationship to be positive, the others reveal its negative association. In order to test the influence of market share and diversification on companies- performance in Croatian nonlife insurance industry for the period from 1999 to 2009, we designed an empirical model in which we included the following independent variables: firms- profitability from previous years, market share, diversification and control variables (i.e. ownership, industrial concentration, GDP per capita, inflation). Using the two-step generalized method of moments (GMM) estimator we found evidence of a positive and statistically significant influence of both, market share and diversification, on insurers- profitability.

Keywords: Diversification, market share, nonlife insurance

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Authors: Oliver Mărunţălu, Gheorghe Lăzăroiu, Elena Elisabeta Manea, Dana Andreya Bondrea, Lăcrămioara Diana Robescu

Abstract:

This paper presents the results obtained by numerical simulation using the software ANSYS CFX-CFD for the air pollutants dispersion in the atmosphere coming from the evacuation of combustion gases resulting from the fuel combustion in an electric thermal power plant. The model uses the Navier-Stokes equation to simulate the dispersion of pollutants in the atmosphere. It is considered as important factors in elaboration of simulation the atmospheric conditions (pressure, temperature, wind speed, wind direction), the exhaust velocity of the combustion gases, chimney height and the obstacles (buildings). Using the air quality monitoring stations it is measured the concentrations of main pollutants (SO2, NOx and PM). The pollutants were monitored over a period of 3 months, after that the average concentration are calculated, which is used by the software. The concentrations are: 8.915 μg/m3 (NOx), 9.587 μg/m3 (SO2) and 42 μg/m3 (PM). A comparison of test data with simulation results demonstrated that CFX was able to describe the dispersion of the pollutant as well the concentration of this pollutants in the atmosphere.

Keywords: Air pollutants, computational fluid dynamics, dispersion, simulation.

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Authors: Funmilola O. Omoya, Joseph O. Obameso, Titus A. Olukibiti

Abstract:

This study was carried out to reveal the bacterial composition of aerosol in the studied abattoirs. Bacteria isolated were characterized according to microbiological standards. Factors such as temperature and distance were considered as variable in this study. The isolation was carried out at different temperatures such as 27^oC, 31^oC and 29^oC and at various distances of 100meters and 200meters away from the slaughter sites. Result obtained showed that strains of Staphylococcus aureus, Escherichia coli, Bacillus subtilis, Lactobacillus alimentarius and Micrococcus sp. were identified. The total viable counts showed that more microorganisms were present in the morning while the least viable count of 388cfu was recorded in the evening period of this study. This study also showed that more microbial loads were recorded the further the distance is to the slaughter site. Conclusively, the array of bacteria isolated suggests that abattoir sites may be a potential source of pathogenic organisms to commuters if located within residential environment.

Keywords: Abattoir, Aerosol, Bacterial Composition, Environment.

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Authors: Panida Jongsuksomsakul

Abstract:

This study of the ‘happiness’ and ‘sustainability’ in the community of Donkeaw, Amphoe Mae Rim, Chiang Mai Province during the non-election period in Thailand, noted that their happiness levels are in the middle-average range. This was found using a mixed approach of qualitative and quantitative methods (N = 386, α = 0.05). The study explores indicators for six aspects of well-being and happiness, including, good local governance, administrative support for the health system that maintains people’s mental and physical health, environment and weather, job security and a regular income aids them in managing a sustainable lifestyle. The impact of economic security and community relationships on social and cultural capital, and the way these aspects impact on the life style of the community, affects the sustainable well-being of people. Moreover, living with transparency and participatory communication led to diverse rewards in many areas.

Keywords: Communication, happiness, well-being, Donkeaw community, social and cultural capital.

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Authors: Wen Liang Chang

Abstract:

This paper provides a replacement policy for warranty products with different failure rate from the consumer-s viewpoint. Assume that the product is replaced once within a finite planning horizon, and the failure rate of the second product is lower than the failure rate of the first product. Within warranty period (WP), the failed product is corrected by minimal repair without any cost to the consumers. After WP, the failed product is repaired with a fixed repair cost to the consumers. However, each failure incurs a fixed downtime cost to the consumers over a finite planning horizon. In this paper, we derive the model of the expected total disbursement cost within a finite planning horizon and some properties of the optimal replacement policy under some reasonable conditions are obtained. Finally, numerical examples are given to illustrate the features of the optimal replacement policy under various maintenance costs.

Keywords: Planning horizon, Free-repair warranty, Minimal repair, Replacement.

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Authors: Shilpi Tyagi, D. K. Nauriyal

Abstract:

This study investigates the firm level determinants of profitability of Indian drug and pharmaceutical industry. The study uses inflation adjusted panel data for a period 2000-2013 and applies OLS regression model with Driscoll-Kraay standard errors. It has been found that export intensity, A&M intensity, firm’s market power and stronger patent regime dummy have exercised positive influence on profitability. The negative and statistically significant influence of R&D intensity and raw material import intensity points to the need for firms to adopt suitable investment strategies. The study suggests that firms are required to pay far more attention to optimize their operating expenditures, advertisement and marketing expenditures and improve their export orientation, as part of the long term strategy.

Keywords: Indian drug and pharmaceutical industry, trade related intellectual property rights, research and development, food and drug administration.

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