Search results for: payback period
187 Evaluation of Produced Water Treatment Using Advanced Oxidation Processes and Sodium Ferrate(VI)
Authors: Erica T. R. Mendonça, Caroline M. B. de Araujo, Filho, Osvaldo Chiavone, Sobrinho, Maurício A. da Motta
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Oil and gas exploration is an essential activity for modern society, although the supply of its global demand has caused enough damage to the environment, mainly due to produced water generation, which is an effluent associated with the oil and gas produced during oil extraction. It is the aim of this study to evaluate the treatment of produced water, in order to reduce its oils and greases content (OG), by using flotation as a pre-treatment, combined with oxidation for the remaining organic load degradation. Thus, there has been tested Advanced Oxidation Process (AOP) using both Fenton and photo-Fenton reactions, as well as a chemical oxidation treatment using sodium ferrate(VI), Na2[FeO4], as a strong oxidant. All the studies were carried out using real samples of produced water from petroleum industry. The oxidation process using ferrate(VI) ion was studied based on factorial experimental designs. The factorial design was used in order to study how the variables pH, temperature and concentration of Na2[FeO4] influences the O&G levels. For the treatment using ferrate(VI) ion, the results showed that the best operating point is obtained when the temperature is 28 °C, pH 3, and a 2000 mg.L-1 solution of Na2[FeO4] is used. This experiment has achieved a final O&G level of 4.7 mg.L-1, which means 94% percentage removal efficiency of oils and greases. Comparing Fenton and photo-Fenton processes, it was observed that the Fenton reaction did not provide good reduction of O&G (around 20% only). On the other hand, a degradation of approximately 80.5% of oil and grease was obtained after a period of seven hours of treatment using photo-Fenton process, which indicates that the best process combination has occurred between the flotation and the photo-Fenton reaction using solar radiation, with an overall removal efficiency of O&G of approximately 89%.
Keywords: Advanced oxidation process, ferrate(VI) ion, oils and greases removal, produced water treatment.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1793186 Emergence of New Capitalist Class and Issues of Market, Merit and Social Justice: The Business and Economics of Higher Education in India
Authors: Subramaniam Chandran
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This paper analyses the structural changes in education sector since the introduction of liberalization policy in India. This paper explains how the so-called non-profit trusts and societies appropriated the liberalization policy and enhanced themselves as new capitalist class in higher education sector. Over the decades, the policy witnessed the role of private sector in terms of maintaining market equilibrium. The state also witnessed the incompatibility of the private sector in inculcating the values of social justice. The most important consequence of the policy is to witness the rise of new capitalist class and academic capitalism. When the state came to realize that it no longer cope up with market demands, it opens the entry of private sector in higher education. Concessions and tax exemptions were provided to the trusts and societies to establish higher education institutions. There is a basic difference between western countries and India in providing higher education by the trusts and societies. In western countries the big business houses contributed their surplus revenues to promote higher education and research as a complementary service to society and nation. In India, several entrepreneurs came up with business motive using education sector. Over the period, they accumulated wealth at the cost of students and concessions from the government. Four major results can now be identified: production of manpower in view of market demands; reduction of standards in higher education; bypassing the values of social justice; and the rise of new capitalist class from the business of education. This paper tries to substantiate these issues with the inputs from case studies.Keywords: New capitalism, market, social justice, higher education
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1471185 Effect of Supplementary Premium on the Optimal Portfolio Policy in a Defined Contribution Pension Scheme with Refund of Premium Clauses
Authors: Edikan E. Akpanibah Obinichi C. Mandah Imoleayo S. Asiwaju
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In this paper, we studied the effect of supplementary premium on the optimal portfolio policy in a defined contribution (DC) pension scheme with refund of premium clauses. This refund clause allows death members’ next of kin to withdraw their relative’s accumulated wealth during the accumulation period. The supplementary premium is to help sustain the scheme and is assumed to be stochastic. We considered cases when the remaining wealth is equally distributed and when it is not equally distributed among the remaining members. Next, we considered investments in cash and equity to help increase the remaining accumulated funds to meet up with the retirement needs of the remaining members and composed the problem as a continuous time mean-variance stochastic optimal control problem using the actuarial symbol and established an optimization problem from the extended Hamilton Jacobi Bellman equations. The optimal portfolio policy, the corresponding optimal fund size for the two assets and also the efficient frontier of the pension members for the two cases was obtained. Furthermore, the numerical simulations of the optimal portfolio policies with time were presented and the effect of the supplementary premium on the optimal portfolio policy was discussed and observed that the supplementary premium decreases the optimal portfolio policy of the risky asset (equity). Secondly we observed a disparity between the optimal policies for the two cases.
Keywords: Defined contribution pension scheme, extended Hamilton Jacobi Bellman equations, optimal portfolio policies, refund of premium clauses, supplementary premium.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 659184 Perceived Determinants of Obesity among Primary School Pupils in Eti Osa Local Government Area of Lagos State, Nigeria
Authors: B. O. Diyaolu, E. A. Okebanjo
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Children in today’s world need attention and care even with their physique as obesity is also at the increased. Several factors can be responsible for obesity in children and adequate attention is paramount in other not to accommodate it into adolescent period. This study investigated perceived determinants of obesity among primary school pupils in Eti Osa Local Government area of Lagos State. Descriptive survey research design was used and population was all obese pupils in Eti Osa Local Government Area of Lagos State. 92 pupils were selected from randomly picked 12 primary schools while purposive sampling technique was used to pick primary 4-6 pupils. With the aid of body mass index (BMI) and age percentile chart the obese pupils were selected. The instrument for the study was a self-developed and structured questionnaire on perceived determinant of obesity. The questionnaire was divided into three sections. The Cronbach’s Alpha reliability coefficient of 0.74 was obtained. The hypotheses were tested at 0.05 significant levels. The completed questionnaire was collated coded and analyzed using descriptive statistics of frequency counts and percentage and inferential statistics of chi-square (X2). Findings of this study revealed that physical activities and parental influences were determinant of obesity. Physical activity is essential in reducing the rate of obesity in Eti Osa Local Government Area both at home and within the school environment. Primary schools need to create more playing ground for pupils to exercise themselves. Parents need to cater for their children diet ensuring not just the quantity but the quality as well.
Keywords: Feeding pattern, obese pupils, parental influence, physical activities.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 610183 LCA and Multi-Criteria Analysis of Fly Ash Concrete Pavements
Authors: M. Ondova, A. Estokova
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Rapid industrialization results in increased use of natural resources bring along serious ecological and environmental imbalance due to the dumping of industrial wastes. Principles of sustainable construction have to be accepted with regard to the consumption of natural resources and the production of harmful emissions. Cement is a great importance raw material in the building industry and today is its large amount used in the construction of concrete pavements. Concerning raw materials cost and producing CO2 emission the replacing of cement in concrete mixtures with more sustainable materials is necessary. To reduce this environmental impact people all over the world are looking for a solution. Over a period of last ten years, the image of fly ash has completely been changed from a polluting waste to resource material and it can solve the major problems of cement use. Fly ash concretes are proposed as a potential approach for achieving substantial reductions in cement. It is known that it improves the workability of concrete, extends the life cycle of concrete roads, and reduces energy use and greenhouse gas as well as amount of coal combustion products that must be disposed in landfills.
Life cycle assessment also proved that a concrete pavement with fly ash cement replacement is considerably more environmentally friendly compared to standard concrete roads. In addition, fly ash is cheap raw material, and the costs saving are guaranteed. The strength properties, resistance to a frost or de-icing salts, which are important characteristics in the construction of concrete pavements, have reached the required standards as well. In terms of human health it can´t be stated that a concrete cover with fly ash could be dangerous compared with a cover without fly ash. Final Multi-criteria analysis also pointed that a concrete with fly ash is a clearly proper solution.
Keywords: Life cycle assessment, fly ash, waste, concrete pavements
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3503182 Morphological Characteristics and Development of the Estuary Area of Lam River, Vietnam
Authors: Hai Nguyen Tien
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On the basis of the structure of alluvial sediments explained by echo sounding data and remote sensing images, the following results can be given: The estuary of Lam river from Ben Thuy Bridge (original word: Bến Thủy) to Cua Hoi (original word: Cửa Hội) is divided into three channels (location is calculated according to the river bank on the Nghe An Province, original word: Nghệ An): i) channel I (from Ben Thuy Bridge to Hung Hoa, original word: Hưng Hòa) is the branching river; ii) channel II (from Hung Hoa to Nghi Thai, original word: Nghi Thái)is a channel develops in a meandering direction with a concave side toward Ha Tinh Province (Hà Tĩnh); iii) channel III (from Nghi Thai to Cua Hoi)is a channel develops in a meandering direction with a concave side toward Nghe An province.This estuary area is formed in the period from after the sea level dropped below 0m (current water level) to the present: i) Channel II developed moving towards Ha Tinh Province; ii) Channel III developed moving towards Nghe An Province; iii) In channel I, a second river branch is formed because the flow of river cuts through the Hong Lam- Hong Nhat mudflat (original word: Hồng Lam -Hồng Nhất),at the same time creating an island.Morphological characteristics of the estuary area of Lam River are the main result of erosion and deposition activities corresponding to two water levels: the water level is about 2 m lower than the current water level and the current water level.Characteristics of the sediment layers on the riverbed in the estuary can be used to determine the sea levels in Late Holocene to the present.
Keywords: Lam River, development, Cua Hoi, river morphology
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 427181 The Effect of Cow Reproductive Traits on Lifetime Productivity and Longevity
Authors: Lāsma Cielava, Daina Jonkus, Līga Paura
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The age of first calving (AFC) is one of the most important factors that have a significant impact on cow productivity in different lactations and its whole life. A belated AFC leads to reduced reproductive performance and it is one of the main reasons for reduced longevity. Cows that calved in time period from 2001-2007 and in this time finished at least four lactations were included in the database. Data were obtained from 68841 crossbred Holstein Black and White (HM), crossbred Latvian Brown (LB), and Latvian Brown genetic resources (LBGR) cows. Cows were distributed in four groups depending on age at first calving. The longest lifespan was conducted for LBGR cows, but they were also characterized with lowest lifetime milk yield and life day milk yield. HM breed cows had the shortest lifespan, but in the lifespan of 2862.2 days was obtained in average 37916.4 kg milk accordingly 13.2 kg milk in one life day. HM breed cows were also characterized with longer calving intervals (CI) in first four lactations, but LBGR cows had the shortest CI in the study group. Age at first calving significantly affected the length of CI in different lactations (p<0.05). HM cows that first time calved >30 months old in the fourth lactation had the longest CI in all study groups (421.4 days). The LBGR cows were characterized with the shortest CI, but there was slight increase in second and third lactation. Age at first calving had a significant impact on cows’ age in each calving time. In the analysis, cow group was conducted that cows with age at first calving <24 months or in average 580.5 days at the time of fifth calving were 2156.7 days (5.9 years) old, but cows with age at first calving >30 months (932.6 days) at the time of fifth calving were 2560.9 days (7.3 years) old.
Keywords: Age at first calving, calving interval, longevity, milk yield.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1634180 Nitrification Efficiency and Community Structure of Municipal Activated Sewage Sludge
Authors: Oluyemi O. Awolusi, Abimbola M. Enitan, Sheena Kumari, Faizal Bux
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Nitrification is essential to biological processes designed to remove ammonia and/or total nitrogen. It removes excess nitrogenous compound in wastewater which could be very toxic to the aquatic fauna or cause serious imbalance of such aquatic ecosystem. Efficient nitrification is linked to an in-depth knowledge of the structure and dynamics of the nitrifying community structure within the wastewater treatment systems. In this study, molecular technique was employed for characterizing the microbial structure of activated sludge [ammonia oxidizing bacteria (AOB) and nitrite oxidizing bacteria (NOB)] in a municipal wastewater treatment with intention of linking it to the plant efficiency. PCR based phylogenetic analysis was also carried out. The average operating and environmental parameters as well as specific nitrification rate of plant was investigated during the study. During the investigation the average temperature was 23±1.5oC. Other operational parameters such as mixed liquor suspended solids and chemical oxygen demand inversely correlated with ammonia removal. The dissolved oxygen level in the plant was constantly lower than the optimum (between 0.24 and 1.267 mg/l) during this study. The plant was treating wastewater with influent ammonia concentration of 31.69 and 24.47 mg/L. The influent flow rates (ML/Day) was 96.81 during period. The dominant nitrifiers include: Nitrosomonas spp. Nitrobacter spp. and Nitrospira spp. The AOB had correlation with nitrification efficiency and temperature. This study shows that the specific ammonia oxidizing rate and the specific nitrate formation rates can serve as good indicator of the plant overall nitrification performance.Keywords: Ammonia monooxygenase α-subunit (amoA) gene, ammonia-oxidizing bacteria (AOB), nitrite-oxidizing bacteria (NOB), specific nitrification rate, PCR.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2324179 A Challenge to Acquire Serious Victims’ Locations during Acute Period of Giant Disasters
Authors: Keiko Shimazu, Yasuhiro Maida, Tetsuya Sugata, Daisuke Tamakoshi, Kenji Makabe, Haruki Suzuki
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In this paper, we report how to acquire serious victims’ locations in the Acute Stage of Large-scale Disasters, in an Emergency Information Network System designed by us. The background of our concept is based on the Great East Japan Earthquake occurred on March 11th, 2011. Through many experiences of national crises caused by earthquakes and tsunamis, we have established advanced communication systems and advanced disaster medical response systems. However, Japan was devastated by huge tsunamis swept a vast area of Tohoku causing a complete breakdown of all the infrastructures including telecommunications. Therefore, we noticed that we need interdisciplinary collaboration between science of disaster medicine, regional administrative sociology, satellite communication technology and systems engineering experts. Communication of emergency information was limited causing a serious delay in the initial rescue and medical operation. For the emergency rescue and medical operations, the most important thing is to identify the number of casualties, their locations and status and to dispatch doctors and rescue workers from multiple organizations. In the case of the Tohoku earthquake, the dispatching mechanism and/or decision support system did not exist to allocate the appropriate number of doctors and locate disaster victims. Even though the doctors and rescue workers from multiple government organizations have their own dedicated communication system, the systems are not interoperable.
Keywords: Crisis management, disaster mitigation, messing, MGRS, Satellite communication system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 830178 Determination of Soil Loss by Erosion in Different Land Covers Categories and Slope Classes in Bovilla Watershed, Tirana, Albania
Authors: Valmir Baloshi, Fran Gjoka, Nehat Çollaku, Elvin Toromani
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As a sediment production mechanism, soil erosion is the main environmental threat to the Bovilla watershed, including the decline of water quality of the Bovilla reservoir that provides drinking water to Tirana city (the capital of Albania). Therefore, an experiment with 25 erosion plots for soil erosion monitoring has been set up since June 2017. The aim was to determine the soil loss on plot and watershed scale in Bovilla watershed (Tirana region) for implementation of soil and water protection measures or payments for ecosystem services (PES) programs. The results of erosion monitoring for the period June 2017 - May 2018 showed that the highest values of surface runoff were noted in bare land of 38829.91 liters on slope of 74% and the lowest values in forest land of 12840.6 liters on slope of 64% while the highest values of soil loss were found in bare land of 595.15 t/ha on slope of 62% and lowest values in forest land of 18.99 t/ha on slope of 64%. These values are much higher than the average rate of soil loss in the European Union (2.46 ton/ha/year). In the same sloping class, the soil loss was reduced from orchard or bare land to the forest land, and in the same category of land use, the soil loss increased with increasing land slope. It is necessary to conduct chemical analyses of sediments to determine the amount of chemical elements leached out of the soil and end up in the reservoir of Bovilla. It is concluded that PES programs should be implemented for rehabilitation of sub-watersheds Ranxe, Vilez and Zall-Bastar of the Bovilla watershed with valuable conservation practices.
Keywords: ANOVA, Bovilla, land cover, slope, soil loss, watershed management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 885177 “Protection” or “Destruction”: Taking the Cultural Heritage Protection of the Grand Canal in Huaxian and Xunxian Sections of Henan Province as Example
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The Grand Canal of China has been in use for more than two thousand years. It runs through the central and eastern regions of China and communicates with the five major river systems of Haihe River, Yellow River, Huaihe River, Yangtze River and Qiantang River from north to south. It is a complex, systematic and comprehensive water conservancy project in the period of agricultural civilization and includes the three parts of the Beijing-Hangzhou Canal, the Sui and Tang Dynasties Canal and the Eastern Zhejiang Canal. It covers eight provinces and cities including Beijing, Tianjin, Hebei, Shandong, Jiangsu, Zhejiang, Henan and Anhui. The Grand Canal is an important channel connecting the Central Plains and the Beijing-Hangzhou Canal, and it is also an important waterway trade channel. Nowadays, although the Grand Canal no longer bears the burden of communicating water transportation between the north and the south, the site of the Grand Canal is still a “historical museum” of the lifestyle of people who lived on the canal from the Ming and Qing Dynasties to the Republic of China. By means of literature reading and field investigation, this paper compares the different protection strategies of the Grand Canal in the region between the ancient villages of Huaxian and Xunxian, which witness the vicissitudes of canal water transport, to explore whether the protective renovation of historical and cultural routes is “protection” or “destruction”, and puts forward some protection suggestions.
Keywords: The Grand Canal, heritage conservation, cultural route, ancient villages, strategies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 725176 Traumatic Ankle Pain: Adequacy of Clinical Information in X-Ray Request with Reference to the Ottawa Ankle Rule
Authors: Rania Mustafa
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This audit was conducted at Manchester University NHS Foundation Trust, Wythenshawe Hospital Radiology and Accident and Emergency [A&E] Department to assess the appropriateness of clinical information in X-ray requests, specifically in cases of acute ankle injuries. As per the Ottawa Ankle Rules and the recommendations of National Institute for Health and Care Excellence [NICE] and the Royal College of Radiology, we aimed to evaluate the appropriateness of referrals and the thoroughness of clinical information provided by Emergency Department [ED] clinicians for ankle radiography. Our goal was to achieve 100% compliance with these guidelines. The audit involved a comprehensive analysis spanning the period from August 2022 to January 2023, encompassing patient records, radiographic orders, and clinical assessments. Data collection included patient demographics, presenting complaints, clinical assessments, adherence to Ottawa Ankle Rules criteria, and subsequent radiography orders. Here we conducted two audit cycles, involving 38 patients in the first cycle and 86 patients in the second cycle. The data were furtherly filtered to include all patients who were referred from the ED for an ankle Xray with a history of acute trauma and age of more than 18 years. The key finding was that in August 2022, 60% of cases met the Ottawa Ankle Rules criteria accurately, indicating a need for improvement in adherence. However, by January 2023, there was a notable improvement, with 95% of cases accurately meeting the criteria. This significant change reflects an increased alignment with best practices for ankle radiography referrals.
Keywords: Ankle, injuries, Ottawa Ankle Rule, X-rays.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 290175 Combined Effect of Heat Stimulation and Delayed Addition of Superplasticizer with Slag on Fresh and Hardened Property of Mortar
Authors: Faraidoon Rahmanzai, Mizuki Takigawa, Yu Bomura, Shigeyuki Date
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To obtain the high quality and essential workability of mortar, different types of superplasticizers are used. The superplasticizers are the chemical admixture used in the mix to improve the fluidity of mortar. Many factors influenced the superplasticizer to disperse the cement particle in the mortar. Nature and amount of replaced cement by slag, mixing procedure, delayed addition time, and heat stimulation technique of superplasticizer cause the varied effect on the fluidity of the cementitious material. In this experiment, the superplasticizers were heated for 1 hour under 60 °C in a thermostatic chamber. Furthermore, the effect of delayed addition time of heat stimulated superplasticizers (SP) was also analyzed. This method was applied to two types of polycarboxylic acid based ether SP (precast type superplasticizer (SP2) and ready-mix type superplasticizer (SP1)) in combination with a partial replacement of normal Portland cement with blast furnace slag (BFS) with 30% w/c ratio. On the other hands, the fluidity, air content, fresh density, and compressive strength for 7 and 28 days were studied. The results indicate that the addition time and heat stimulation technique improved the flow and air content, decreased the density, and slightly decreased the compressive strength of mortar. Moreover, the slag improved the flow of mortar by increasing the amount of slag, and the effect of external temperature of SP on the flow of mortar was decreased. In comparison, the flow of mortar was improved on 5-minute delay for both kinds of SP, but SP1 has improved the flow in all conditions. Most importantly, the transition points in both types of SP appear to be the same, at about 5±1 min. In addition, the optimum addition time of SP to mortar should be in this period.
Keywords: Combined effect, delayed addition, heat stimulation, flow of mortar.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 847174 Patterns of Malignant and Benign Breast Lesions in Hail Region: A Retrospective Study at King Khalid Hospital
Authors: Laila Seada, Ashraf Ibrahim, Amjad Al Shammari
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Background and Objectives: Breast carcinoma is the most common cancer of females in Hail region, accounting for 31% of all diagnosed cancer cases followed by thyroid carcinoma (25%) and colorectal carcinoma (13%). Methods: In the present retrospective study, all cases of breast lesions received at the histopathology department in King Khalid Hospital, Hail, during the period from May 2011 to April 2016 have been retrieved from department files. For all cases, a trucut biopsy, lumpectomy, or modified radical mastectomy was available for histopathologic diagnosis, while 105/140 (75%) had, as well, preoperative fine needle aspirates (FNA). Results: 49 cases out of 140 (35%) breast lesions were carcinomas: 44/49 (89.75%) was invasive ductal, 2/49(4.1%) invasive lobular carcinomas, 1/49(2.05%) intracystic low grade papillary carcinoma and 2/49 (4.1%) ductal carcinoma in situ (DCIS). Mean age for malignant cases was 45.06 (+/-10.58): 32.6% were below the age of 40 and 30.6 below 50 years, 18.3% below 60 and 16.3% below 70 years. For the benign group, mean age was 32.52 (+/10.5) years. Benign lesions were in order of frequency: 34 fibroadenomas, 14 fibrocystic disease, 12 chronic mastitis, five granulomatous mastitis, three intraductal papillomas, and three benign phyllodes tumor. Tubular adenoma, lipoma, skin nevus, pilomatrixoma, and breast reduction specimens constituted the remaining specimens. Conclusion: Breast lesions are common in our series and invasive carcinoma accounts for more than 1/3rd of the lumps, with 63.2% incidence in pre-menopausal ladies, below the age of 50 years. FNA as a non-invasive procedure, proved to be an effective tool in diagnosing both benign and malignant/suspicious breast lumps and should continue to be used as a first assessment line of palpable breast masses.
Keywords: Age incidence, breast carcinoma, fine needle aspiration, Hail Region.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 937173 Foreign Direct Investment on Economic Growth by Industries in Central and Eastern European Countries
Authors: Shorena Pharjiani
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Present empirical paper investigates the relationship between FDI and economic growth by 10 selected industries in 10 Central and Eastern European countries from the period 1995 to 2012. Different estimation approaches were used to explore the connection between FDI and economic growth, for example OLS, RE, FE with and without time dummies. Obtained empirical results leads to some main consequences: First, the Central and East European countries (CEEC) attracted foreign direct investment, which raised the productivity of industries they entered in. It should be concluded that the linkage between FDI and output growth by industries is positive and significant enough to suggest that foreign firm’s participation enhanced the productivity of the industries they occupied. There had been an endogeneity problem in the regression and fixed effects estimation approach was used which partially corrected the regression analysis in order to make the results less biased. Second, it should be stressed that the results show that time has an important role in making FDI operational for enhancing output growth by industries via total factor productivity. Third, R&D positively affected economic growth and at the same time, it should take some time for research and development to influence economic growth. Fourth, the general trends masked crucial differences at the country level: over the last 20 years, the analysis of the tables and figures at the country level show that the main recipients of FDI of the 11 Central and Eastern European countries were Hungary, Poland and the Czech Republic. The main reason was that these countries had more open door policies for attracting the FDI. Fifth, according to the graphical analysis, while Hungary had the highest FDI inflow in this region, it was not reflected in the GDP growth as much as in other Central and Eastern European countries.Keywords: Central and East European countries (CEEC), economic growth, FDI, panel data.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1665172 Acceleration-Based Motion Model for Visual SLAM
Authors: Daohong Yang, Xiang Zhang, Wanting Zhou, Lei Li
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Visual Simultaneous Localization and Mapping (VSLAM) is a technology that gathers information about the surrounding environment to ascertain its own position and create a map. It is widely used in computer vision, robotics, and various other fields. Many visual SLAM systems, such as OBSLAM3, utilize a constant velocity motion model. The utilization of this model facilitates the determination of the initial pose of the current frame, thereby enhancing the efficiency and precision of feature matching. However, it is often difficult to satisfy the constant velocity motion model in actual situations. This can result in a significant deviation between the obtained initial pose and the true value, leading to errors in nonlinear optimization results. Therefore, this paper proposes a motion model based on acceleration that can be applied to most SLAM systems. To provide a more accurate description of the camera pose acceleration, we separate the pose transformation matrix into its rotation matrix and translation vector components. The rotation matrix is now represented by a rotation vector. We assume that, over a short period, the changes in rotating angular velocity and translation vector remain constant. Based on this assumption, the initial pose of the current frame is estimated. In addition, the error of the constant velocity model is analyzed theoretically. Finally, we apply our proposed approach to the ORBSLAM3 system and evaluate two sets of sequences from the TUM datasets. The results show that our proposed method has a more accurate initial pose estimation, resulting in an improvement of 6.61% and 6.46% in the accuracy of the ORBSLAM3 system on the two test sequences, respectively.
Keywords: Error estimation, constant acceleration motion model, pose estimation, visual SLAM.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 251171 Nonlinear Estimation Model for Rail Track Deterioration
Authors: M. Karimpour, L. Hitihamillage, N. Elkhoury, S. Moridpour, R. Hesami
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Rail transport authorities around the world have been facing a significant challenge when predicting rail infrastructure maintenance work for a long period of time. Generally, maintenance monitoring and prediction is conducted manually. With the restrictions in economy, the rail transport authorities are in pursuit of improved modern methods, which can provide precise prediction of rail maintenance time and location. The expectation from such a method is to develop models to minimize the human error that is strongly related to manual prediction. Such models will help them in understanding how the track degradation occurs overtime under the change in different conditions (e.g. rail load, rail type, rail profile). They need a well-structured technique to identify the precise time that rail tracks fail in order to minimize the maintenance cost/time and secure the vehicles. The rail track characteristics that have been collected over the years will be used in developing rail track degradation prediction models. Since these data have been collected in large volumes and the data collection is done both electronically and manually, it is possible to have some errors. Sometimes these errors make it impossible to use them in prediction model development. This is one of the major drawbacks in rail track degradation prediction. An accurate model can play a key role in the estimation of the long-term behavior of rail tracks. Accurate models increase the track safety and decrease the cost of maintenance in long term. In this research, a short review of rail track degradation prediction models has been discussed before estimating rail track degradation for the curve sections of Melbourne tram track system using Adaptive Network-based Fuzzy Inference System (ANFIS) model.
Keywords: ANFIS, MGT, Prediction modeling, rail track degradation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1595170 Explicit Solution of an Investment Plan for a DC Pension Scheme with Voluntary Contributions and Return Clause under Logarithm Utility
Authors: Promise A. Azor, Avievie Igodo, Esabai M. Ase
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The paper merged the return of premium clause and voluntary contributions to investigate retirees’ investment plan in a defined contributory (DC) pension scheme with a portfolio comprising of a risk-free asset and a risky asset whose price process is described by geometric Brownian motion (GBM). The paper considers additional voluntary contributions paid by members, charge on balance by pension fund administrators and the mortality risk of members of the scheme during the accumulation period by introducing return of premium clause. To achieve this, the Weilbull mortality force function is used to establish the mortality rate of members during accumulation phase. Furthermore, an optimization problem from the Hamilton Jacobi Bellman (HJB) equation is obtained using dynamic programming approach. Also, the Legendre transformation method is used to transform the HJB equation which is a nonlinear partial differential equation to a linear partial differential equation and solves the resultant equation for the value function and the optimal distribution plan under logarithm utility function. Finally, numerical simulations of the impact of some important parameters on the optimal distribution plan were obtained and it was observed that the optimal distribution plan is inversely proportional to the initial fund size, predetermined interest rate, additional voluntary contributions, charge on balance and instantaneous volatility.
Keywords: Legendre transform, logarithm utility, optimal distribution plan, return clause of premium, charge on balance, Weibull mortality function.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 208169 The Portuguese Framework of the Professional Internship without Public Funds
Authors: Ana Lambelho
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In an economic crisis such as the one that shook (and still shake) Europe, one does not question the importance of the measures that encourage the hiring and integration of young people into the labour market. In the mentioned context, enterprises tend to reduce the cost of labour and to seek flexible contracting instruments. The professional internships allow innovation and creativity at low cost, because, as they are not labour contracts, the enterprises do not have to respect the minimum standards related to wages, working time duration and so on. In Portugal, we observe a widespread existence of training contracts in which the trainee worked several hours without salary or was paid below the legally prescribed for the function and the work period. For this reason, under the tripartite agreement for a new system of regulation of labour relations, employment policies and social protection, between the Government and the social partners, in June 2008, foresaw a prohibition of professional internships unpaid and the legal regulation of the mandatory internships for access to an activity. The first Act about private internship contracts, i.e., internships without public funding was embodied in the Decree-Law N. 66/2011, of 1st June. This work is dedicated to the study of the legal regime of the internship contract in Portugal, by analysing the problems brought by the new set of rules and especially those which remains unresolved. In fact, we can conclude that the number of situations covered by the Act is much lower than what was expected, because of the exclusion of the mandatory internship for access to a profession when the activity is developed autonomously. Since the majority of the activities can be developed both autonomously or subordinated, it is quite easy to out of the Act requirements and, so, out of the protection that it confers to the intern. In order to complete this study, we considered not only the mentioned legal Act, but also the few doctrine and jurisprudence about the theme.
Keywords: Intern, internship contact, labour law, Portugal.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1807168 Study of Influencing Factors of Shrinking Cities Based On Factor Analysis – The Example of Halle, Germany
Authors: Fang Yao, Minglei Chen
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City shrinkage is one of the thorny problems that many European cities have to face with nowadays. It is mainly expressed as the decrease of population in these cities. Eastern Germany is one of the pioneers of European shrinking cities with long shrinking history. The paper selects one representative shrinking city Halle (Saale) in eastern Germany as research objective, collecting and investigating nearly 20 years (1993-2010) municipal data after the reunification of Germany. These data based on five dimensions, which are demographic, economic, social, spatial and environmental and total 16 eligible variables. Factor Analysis is used to deal with these variables in order to assess the most important factors affecting shrinking Halle. The results show that there are three main factors determine the shrinkage of Halle, respectively named “demographical and economical factor”, “social stability factor”, and “city vitality factor”. The three factors act at different time period of Halle’s shrinkage: from 1993 to 1997 the demographical and economical factor played an important role; from 1997 to 2004 the social stability factor is significant to city shrinkage; since 2005 city vitality factor determines the shrinkage of Halle. In recent years, the shrinkage in Halle mitigates that shows the sign of growing population. Thus the city Halle should focus on attaching more importance on the city vitality factor to prevent the city from shrinkage. Meanwhile, the city should possess a positive perspective to shift the growth-oriented development to tap the potential of shrinking cities. This method is expected to apply to further research and other shrinking cities
Keywords: Demography, Factor analysis, Halle, Shrinking cities.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1960167 The Perspectives of Preparing Psychology Practitioners in Armenian Universities
Authors: L. Petrosyan
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The problem of psychologist training remains a key priority in Armenia. During the Soviet period, the notion of a psychologist was obscure not only in Armenia but also in other Soviet republics. The breakup of the Soviet Union triggered a gradual change in this area activating the cooperation with specialists from other countries. The need for recovery from the psychological trauma caused by the 1988 earthquake pushed forward the development of practical psychology in Armenia. This phenomenon led to positive changes in perception of and interest to a psychologist profession.Armenian universities started designing special programs for psychologists’ preparation. Armenian psychologists combined their efforts in the field of training relevant specialists. During the recent years, the Bologna educational system was introduced in Armenia which led to implementation of education quality improvement programs. Nevertheless, even today the issue of psychologists’ training is not yet settled in Armenian universities. So far graduate psychologists haven’t got a clear idea of personal and professional qualities of a psychologist. Recently, as a result of educational reforms, the psychology curricula underwent changes, but so far they have not led to a desired outcome. Almost all curricula in certain specialties are aimed to form professional competencies and strengthen practical skills. A survey conducted in Armenia aimed to identify what are the ideas of young psychology specialists on the image of a psychologist. The survey respondents were 45 specialists holding bachelor’s degree as well as 30 master degree graduates, who have not been working yet. The research reveals that we need to change the approach of preparing psychology practitioners in the universities of Armenia. Such an approach to psychologist training will make it possible to train qualified specialists for enhancement of modern psychology theory and practice.
Keywords: Practitioners, Psychology Degree, study, professional competencies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2070166 Solid State Fermentation of Cassava Peel with Trichoderma viride (ATCC 36316) for Protein Enrichment
Authors: Olufunke O. Ezekiel, Ogugua C. Aworh
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Solid state fermentation of cassava peel with emphasis on protein enrichment using Trichoderma viride was evaluated. The effect of five variables: moisture content, pH, particle size (p), nitrogen source and incubation temperature; on the true protein and total sugars of cassava peel was investigated. The optimum fermentation period was established to be 8 days. Total sugars were 5-fold higher at pH 6 relative to pH 4 and 7-fold higher when cassava peels were fermented at 30oC relative to 25oC as well as using ammonium sulfate as the nitrogen source relative to urea or a combination of both. Total sugars ranged between 123.21mg/g at 50% initial moisture content to 374mg/g at 60% and from 190.59mg/g with particle size range of 2.00>p>1.41mm to 310.10mg/g with 4.00>p>3.35mm.True protein ranged from 229.70 mg/g at pH 4 to 284.05 mg/g at pH 6; from 200.87 mg/g with urea as nitrogen source and to 254.50mg/g with ammonium sulfate; from 213.82mg/g at 50% initial moisture content to 254.50mg/g at 60% moisture content, from 205.75mg/g in cassava peel with 5.6>p> 4.75mm to 268.30 in cassava peel with particle size 4.00>p>3.35mm, from 207.57mg/g at 25oC to 254.50mg/g at 30oC Cassava peel with particle size 4.00>p>3.35 mm and initial moisture content of 60% at pH 6.0, 30oC incubation temperature with ammonium sulfate (10g N / kg substrate) was most suitable for protein enrichment with Trichoderma viride. Crude protein increased from 4.21 % in unfermented cassava peel samples to 10.43 % in fermented samples.
Keywords: Cassava peel, Solid state fermentation, Trichoderma viride, Total sugars, True protein.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3347165 The Effect of Nano-Silver Packaging on Quality Maintenance of Fresh Strawberry
Authors: Naser Valipour Motlagh, Majid Aliabadi, Elnaz Rahmani, Samira Ghorbanpour
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Strawberry is one of the most favored fruits all along the world. But due to its vulnerability to microbial contamination and short life storage, there are lots of problems in industrial production and transportation of this fruit. Therefore, lots of ideas have tried to increase the storage life of strawberries especially through proper packaging. This paper works on efficient packaging as well. The primary material used is produced through simple mixing of low-density polyethylene (LDPE) and silver nanoparticles in different weight fractions of 0.5 and 1% in presence of dicumyl peroxide as a cross-linking agent. Final packages were made in a twin-screw extruder. Then, their effect on the quality maintenance of strawberry is evaluated. The SEM images of nano-silver packages show the distribution of silver nanoparticles in the packages. Total bacteria count, mold, yeast and E. coli are measured for microbial evaluation of all samples. Texture, color, appearance, odor, taste and total acceptance of various samples are evaluated by trained panelists and based on 9-point hedonic scale method. The results show a decrease in total bacteria count and mold in nano-silver packages compared to the samples packed in polyethylene packages for the same storage time. The optimum concentration of silver nanoparticles for the lowest bacteria count and mold is predicted to be around 0.5% which has attained the most acceptance from the panelist as well. Moreover, organoleptic properties of strawberry are preserved for a longer period in nano-silver packages. It can be concluded that using nano-silver particles in strawberry packages has improved the storage life and quality maintenance of the fruit.
Keywords: Antimicrobial properties, polyethylene, silver nanoparticles, strawberry.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1024164 Study on Landscape Pattern Evolution of Ecological-Living-Industrial Land in Plateau Mountainous Area: A Case Study of Yuxi City, Yunnan Province
Authors: Ying Pan, Li Wu, Jing Zhou, Lan Li
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The coordination and development of ecological-living-industrial land uses are the premise foundations for the formulation and implementation of the current land space planning, and more attention should be paid to plateau mountainous areas. This research is based on spatial analysis technology and landscape pattern index method taking Yuxi city, a typical mountainous plateau as the research area. By using relevant software such as ArcGIS10.5, Fragstats 4.2 and the four remote sensing images of Yuxi city in 1980, 1995, 2005 and 2015, the temporal-spatial evolution and differentiation pattern of ecological-living-industrial land applications have been discussed. The research results show that: (1) From the perspective of land use type change, ecological land of Yuxi city has been the main source of land from 1980 to 2015, which totally occupies more than 78%. During this period, the spatial structure of the ecological-living-industrial land changed significantly, namely, the living land. Its land area increased significantly from 0.83% of the total area in 1980 to 1.25% in 2015, the change range of ecological land and industrial land is relatively small. (2) In terms of land use landscape pattern transfer matrix, from 1980 to 2015, the industrial land and ecological land in Yuxi city have been gradually transferred to living land. (3) In the aspect of landscape pattern changes, various landscape pattern indexes of Yuxi city indicate that the fragmentation degree of landscape pattern of the ecological-living-industrial land in this region is increasing. The degree of agglomeration goes down, and the landscape types have changed from being relatively simple to relatively rich. The landscape is more diverse, but the patch size is uneven, meanwhile, the integrity of the ecological space is destroyed.
Keywords: Ecological-living-industrial land, spatio-temporal evolution, landscape pattern, plateau mountainous area.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 682163 Influence of Local Soil Conditions on Optimal Load Factors for Seismic Design of Buildings
Authors: Miguel A. Orellana, Sonia E. Ruiz, Juan Bojórquez
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Optimal load factors (dead, live and seismic) used for the design of buildings may be different, depending of the seismic ground motion characteristics to which they are subjected, which are closely related to the type of soil conditions where the structures are located. The influence of the type of soil on those load factors, is analyzed in the present study. A methodology that is useful for establishing optimal load factors that minimize the cost over the life cycle of the structure is employed; and as a restriction, it is established that the probability of structural failure must be less than or equal to a prescribed value. The life-cycle cost model used here includes different types of costs. The optimization methodology is applied to two groups of reinforced concrete buildings. One set (consisting on 4-, 7-, and 10-story buildings) is located on firm ground (with a dominant period Ts=0.5 s) and the other (consisting on 6-, 12-, and 16-story buildings) on soft soil (Ts=1.5 s) of Mexico City. Each group of buildings is designed using different combinations of load factors. The statistics of the maximums inter-story drifts (associated with the structural capacity) are found by means of incremental dynamic analyses. The buildings located on firm zone are analyzed under the action of 10 strong seismic records, and those on soft zone, under 13 strong ground motions. All the motions correspond to seismic subduction events with magnitudes M=6.9. Then, the structural damage and the expected total costs, corresponding to each group of buildings, are estimated. It is concluded that the optimal load factors combination is different for the design of buildings located on firm ground than that for buildings located on soft soil.
Keywords: Life-cycle cost, optimal load factors, reinforced concrete buildings, total costs, type of soil.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 900162 Director Compensation, CEO Duality, State Ownership, and Firm Performance in China: Proof from Panel Data of Publicly Listed Enterprises from 1999 to 2020
Authors: Wanda Luen-Wun Siu, Xiaowen Zhang
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This paper offered the primary methodical proof on how director remuneration related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprise from 1999 to 2020 over two decades in the China Stock Market & Accounting Research database, we found statistically significant positive associations between director pay and firm performance in privately owned firms over this period, supporting the agency theory. In contrast, among the state-owned enterprises, there was a reverse relation between director compensation and firm financial performance, contributing to the existing literature. But the results also revealed that state-owned enterprises financially performed as well as private enterprises. Such findings suggested that state ownership might line up officials’ career incentives with party prime concern rather than pecuniary incentives. Also, CEO duality enhanced firm performance. As such, allegiance to the party and possible advancement to an upper-level political position would motivate company directors in state-owned enterprises. On the other hand, directors in privately owned enterprises might be motivated by monetary incentives. In addition, a statistical regression model was proposed and tested to get the results of the performance of state-owned enterprises. Finally, some suggestions were made about how to improve the institutional management of government-owned corporations in China.
Keywords: China’s listed Firm, director compensation, CEO duality, firm performance, panel analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 498161 Use of Multiple Linear Regressions to Evaluate the Influence of O3 and PM10 on Biological Pollutants
Authors: S. I. V. Sousa, F.G. Martins, M. C. Pereira, M. C. M. Alvim-Ferraz, H. Ribeiro, M. Oliveira, I. Abreu
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Exposure to ambient air pollution has been linked to a number of health outcomes, starting from modest transient changes in the respiratory tract and impaired pulmonary function, continuing to restrict activity/reduce performance and to the increase emergency rooms visits, hospital admissions or mortality. The increase of allergenic symptoms has been associated with air contaminants such as ozone, particulate matter, fungal spores and pollen. Considering the potential relevance of crossed effects of nonbiological pollutants and airborne pollens and fungal spores on allergy worsening, the aim of this work was to evaluate the influence of non-biological pollutants (O3 and PM10) and meteorological parameters on the concentrations of pollen and fungal spores using multiple linear regressions. The data considered in this study were collected in Oporto which is the second largest Portuguese city, located in the North. Daily mean of O3, PM10, pollen and fungal spore concentrations, temperature, relative humidity, precipitation, wind velocity, pollen and fungal spore concentrations, for 2003, 2004 and 2005 were considered. Results showed that the 90th percentile of the adjusted coefficient of determination, P90 (R2aj), of the multiple regressions varied from 0.613 to 0.916 for pollen and from 0.275 to 0.512 for fungal spores. O3 and PM10 showed to have some influence on the biological pollutants. Among the meteorological parameters analysed, temperature was the one that most influenced the pollen and fungal spores airborne concentrations. Relative humidity also showed to have some influence on the fungal spore dispersion. Nevertheless, the models for each pollen and fungal spore were different depending on the analysed period, which means that the correlations identified as statistically significant can not be, even so, consistent enough.Keywords: Air pollutants, meteorological parameters, biologicalpollutants, multiple linear correlations.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1595160 Efficacy of Methyl Eugenol and Food-Based Lures in Trapping Oriental Fruit Fly Bactrocera dorsalis (Diptera: Tephritidae) on Mango Homestead Trees
Authors: Juliana Amaka Ugwu
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Trapping efficiency of methyl eugenol and three locally made food-based lures were evaluated in three locations for trapping of B. dorsalis on mango homestead trees in Ibadan South west Nigeria. The treatments were methyl eugenol, brewery waste, pineapple juice, orange juice, and control (water). The experiment was laid in a Complete Randomized Block Design (CRBD) and replicated three times in each location. Data collected were subjected to analysis of variance and significant means were separated by Turkey’s test. The results showed that B. dorsalis was recorded in all locations of study. Methyl eugenol significantly (P < 0.05) trapped higher population of B. dorsalis in all the study area. The population density of B. dorsalis was highest during the ripening period of mango in all locations. The percentage trapped flies after 7 weeks were 77.85%-82.38% (methyl eugenol), 7.29%-8.64% (pineapple juice), 5.62-7.62% (brewery waste), 4.41%-5.95% (orange juice), and 0.24-0.47% (control). There were no significance differences (p > 0.05) on the population of B. dorsalis trapped in all locations. Similarly, there were no significant differences (p > 0.05) on the population of flies trapped among the food attractants. However, the three food attractants significantly (p < 0.05) trapped higher flies than control. Methyl eugenol trapped only male flies while brewery waste and other food based attractants trapped both male and female flies. The food baits tested were promising attractants for trapping B. dorsalis on mango homestead tress, hence increased dosage could be considered for monitoring and mass trapping as management strategies against fruit fly infestation.
Keywords: Attractants, trapping, mango, Bactrocera dorsalis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 765159 Modelling of a Biomechanical Vertebral System for Seat Ejection in Aircrafts Using Lumped Mass Approach
Authors: R. Unnikrishnan, K. Shankar
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In the case of high-speed fighter aircrafts, seat ejection is designed mainly for the safety of the pilot in case of an emergency. Strong windblast due to the high velocity of flight is one main difficulty in clearing the tail of the aircraft. Excessive G-forces generated, immobilizes the pilot from escape. In most of the cases, seats are ejected out of the aircrafts by explosives or by rocket motors attached to the bottom of the seat. Ejection forces are primarily in the vertical direction with the objective of attaining the maximum possible velocity in a specified period of time. The safe ejection parameters are studied to estimate the critical time of ejection for various geometries and velocities of flight. An equivalent analytical 2-dimensional biomechanical model of the human spine has been modelled consisting of vertebrae and intervertebral discs with a lumped mass approach. The 24 vertebrae, which consists of the cervical, thoracic and lumbar regions, in addition to the head mass and the pelvis has been designed as 26 rigid structures and the intervertebral discs are assumed as 25 flexible joint structures. The rigid structures are modelled as mass elements and the flexible joints as spring and damper elements. Here, the motions are restricted only in the mid-sagittal plane to form a 26 degree of freedom system. The equations of motions are derived for translational movement of the spinal column. An ejection force with a linearly increasing acceleration profile is applied as vertical base excitation on to the pelvis. The dynamic vibrational response of each vertebra in time-domain is estimated.
Keywords: Biomechanical model, lumped mass, seat ejection, vibrational response.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1051158 The Influence of the Intellectual Capital on the Firms’ Market Value: A Study of Listed Firms in the Tehran Stock Exchange (TSE)
Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab
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Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.Keywords: Capital Employed, Human Capital, Intellectual Capital, Market-to-Book Value, Structural Capital, Value Added Efficiency.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1760