Search results for: business process evolution
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6634

Search results for: business process evolution

5494 Corporate Social Responsibility Disclosure, Tax Aggressiveness and Sustainability Report Assurance: Evidence from Thailand

Authors: Eko Budi Santoso, Kazia Laturette, Stanislaus Adnanto Mastan

Abstract:

This study aims to examine the association between disclosure of social responsibility and tax aggressiveness in developing countries, namely Thailand. This is due to the increasing trend of disclosure of social responsibility in developing countries, even though this disclosure of information is still voluntary. On the other hand, developing countries have low taxation rate and investor protection infrastructures that allow the disclosure of social responsibility to be used opportunistically as a tool to fool the attainment of interests. This study also examines the role of assurance on the association between corporate social responsibility disclosure and tax aggressiveness. The assurance aims to provide confidence that the disclosure of social responsibility by the company is valid. This research builds an index to measure the disclosure of social responsibility based on the rules issued by the innovative Global Reporting. The results of the study are based on a sample of publicly traded companies in Thailand, which showed a positive association between disclosure of corporate social responsibility and tax aggressiveness, but it was further discovered that these results were mitigated by the existence of assurance against disclosure of corporate social responsibility. The results of this study indicate that the disclosure of corporate social responsibility can show that the company cares about the issue of social responsibility but does not automatically make the company as one that holds ethical values ​​in its business practices.

Keywords: Corporate Social Responsibility disclosure, tax aggressiveness, sustainability assurance, business ethics.

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5493 Towards the Creation of Adaptive Content from Web Resources in an E-Learning Platform to Learners Profiles

Authors: M. Chaoui, M-T. Laskri

Abstract:

The evolution of information and communication technology has made a very powerful support for the improvement of online learning platforms in creation of courses. This paper presents a study that attempts to explore new web architecture for creating an adaptive online learning system to profiles of learners, using the Web as a source for the automatic creation of courses for the online training platform. This architecture will reduce the time and decrease the effort performed by the drafters of the current e-learning platform, and direct adaptation of the Web content will greatly enrich the quality of online training courses.

Keywords: Web Content, e-Learning, Educational Content, LMS, Profiles of Learners

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5492 The Study of the Discrete Risk Model with Random Income

Authors: Peichen Zhao

Abstract:

In this paper, we extend the compound binomial model to the case where the premium income process, based on a binomial process, is no longer a linear function. First, a mathematically recursive formula is derived for non ruin probability, and then, we examine the expected discounted penalty function, satisfy a defect renewal equation. Third, the asymptotic estimate for the expected discounted penalty function is then given. Finally, we give two examples of ruin quantities to illustrate applications of the recursive formula and the asymptotic estimate for penalty function.

Keywords: Discounted penalty function, compound binomial process, recursive formula, discrete renewal equation, asymptotic estimate.

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5491 XML Data Management in Compressed Relational Database

Authors: Hongzhi Wang, Jianzhong Li, Hong Gao

Abstract:

XML is an important standard of data exchange and representation. As a mature database system, using relational database to support XML data may bring some advantages. But storing XML in relational database has obvious redundancy that wastes disk space, bandwidth and disk I/O when querying XML data. For the efficiency of storage and query XML, it is necessary to use compressed XML data in relational database. In this paper, a compressed relational database technology supporting XML data is presented. Original relational storage structure is adaptive to XPath query process. The compression method keeps this feature. Besides traditional relational database techniques, additional query process technologies on compressed relations and for special structure for XML are presented. In this paper, technologies for XQuery process in compressed relational database are presented..

Keywords: XML, compression, query processing

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5490 Solving Weighted Number of Operation Plus Processing Time Due-Date Assignment, Weighted Scheduling and Process Planning Integration Problem Using Genetic and Simulated Annealing Search Methods

Authors: Halil Ibrahim Demir, Caner Erden, Mumtaz Ipek, Ozer Uygun

Abstract:

Traditionally, the three important manufacturing functions, which are process planning, scheduling and due-date assignment, are performed separately and sequentially. For couple of decades, hundreds of studies are done on integrated process planning and scheduling problems and numerous researches are performed on scheduling with due date assignment problem, but unfortunately the integration of these three important functions are not adequately addressed. Here, the integration of these three important functions is studied by using genetic, random-genetic hybrid, simulated annealing, random-simulated annealing hybrid and random search techniques. As well, the importance of the integration of these three functions and the power of meta-heuristics and of hybrid heuristics are studied.

Keywords: Process planning, weighted scheduling, weighted due-date assignment, genetic search, simulated annealing, hybrid meta-heuristics.

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5489 Integrating Competences into Work Planning – The Influence of Competence-Based Parameters on Strategic Business Objectives

Authors: G. Meyer, M. Klewer, P. Nyhuis

Abstract:

Constantly changing economic conditions require companies to design their production to be more economical, innovative, and flexible. Since workers have a decisive influence on cost, time, and quality, e.g. by monitoring indicators that determine quality, by developing processes more resistant to disturbances, or by monitoring environmental standards, a focus on personnel as a production factor is needed. This presupposes the efficient use and systematic enhancement of employees’ existing competences since greater consideration of these aspects in work planning will help to enhance competitiveness. The aim of the research project ‘Integrated Technology- and Competence-based Work Planning in Socio-Technical Systems’ is to develop a new work planning method that combines technology with work science by incorporating employees’ skills as a quality indicator. For employee competences to increase competitiveness, it is first of all necessary to assess how competences affect cost, time, and quality. A model for deriving predictions about the effects of competence-based parameters on these strategic business objectives is developed in this paper.

Keywords: Competence management, education and training, employee competences, one-factor-at-a-time method, work planning.

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5488 A Performance Evaluation of Cellular Network Suitability for VANET

Authors: Ho-Yeon Kim, Dong-Min Kang, Jun-Ho Lee, Tai-Myoung Chung

Abstract:

Recently, a vehicular ad-hoc networks(VANETs) for Intelligent Transport System(ITS) have become able safety and convenience services surpassing the simple services such as an electronic toll collection system. To provide the proper services, VANET needs infrastructure over the country infrastructure. Thus, we have to spend a huge sum of human resources. In this reason, several studies have been made on the usage of cellular networks instead of new protocols this study is to assess a performance evaluation of the cellular network for VANET. In this paper, the result of a for the suitability of cellular networks for VANET experiment, The LTE(Long Term Evolution) of cellular networks found to be most suitable among the others cellular networks

Keywords: Vehicle communication, VANET, Cellular network

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5487 Design of an Intelligent Tutor using a Multiagent Approach

Authors: Kamel Khoualdi, Radia Benghezal

Abstract:

Research in distributed artificial intelligence and multiagent systems consider how a set of distributed entities can interact and coordinate their actions in order to solve a given problem. In this paper an overview of this concept and its evolution is presented particularly its application in the design of intelligent tutoring systems. An intelligent tutor based on the concept of agent and centered specifically on the design of a pedagogue agent is illustrated. Our work has two goals: the first one concerns the architecture aspect and the design of a tutor using multiagent approach. The second one deals particularly with the design of a part of a tutor system: the pedagogue agent.

Keywords: Intelligent tutoring systems, Multiagent systems, Pedagogue agent, Planning.

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5486 Environmental Decision Making Model for Assessing On-Site Performances of Building Subcontractors

Authors: Buket Metin

Abstract:

Buildings cause a variety of loads on the environment due to activities performed at each stage of the building life cycle. Construction is the first stage that affects both the natural and built environments at different steps of the process, which can be defined as transportation of materials within the construction site, formation and preparation of materials on-site and the application of materials to realize the building subsystems. All of these steps require the use of technology, which varies based on the facilities that contractors and subcontractors have. Hence, environmental consequences of the construction process should be tackled by focusing on construction technology options used in every step of the process. This paper presents an environmental decision-making model for assessing on-site performances of subcontractors based on the construction technology options which they can supply. First, construction technologies, which constitute information, tools and methods, are classified. Then, environmental performance criteria are set forth related to resource consumption, ecosystem quality, and human health issues. Finally, the model is developed based on the relationships between the construction technology components and the environmental performance criteria. The Fuzzy Analytical Hierarchy Process (FAHP) method is used for weighting the environmental performance criteria according to environmental priorities of decision-maker(s), while the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method is used for ranking on-site environmental performances of subcontractors using quantitative data related to the construction technology components. Thus, the model aims to provide an insight to decision-maker(s) about the environmental consequences of the construction process and to provide an opportunity to improve the overall environmental performance of construction sites.

Keywords: Construction process, construction technology, decision making, environmental performance, subcontractors.

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5485 Treatment of Oily Wastewater by Fibrous Coalescer Process: Stage Coalescer and Model Prediction

Authors: Pisut Painmanakul, Kotchakorn Kongkangwarn, Nattawin Chawaloesphonsiya

Abstract:

The coalescer process is one of the methods for oily water treatment by increasing the oil droplet size in order to enhance the separating velocity and thus effective separation. However, the presence of surfactants in an oily emulsion can limit the obtained mechanisms due to the small oil size related with stabilized emulsion. In this regard, the purpose of this research is to improve the efficiency of the coalescer process for treating the stabilized emulsion. The effects of bed types, bed height, liquid flow rate and stage coalescer (step-bed) on the treatment efficiencies in term of COD values were studied. Note that the treatment efficiency obtained experimentally was estimated by using the COD values and oil droplet size distribution. The study has shown that the plastic media has more effective to attach with oil particles than the stainless one due to their hydrophobic properties. Furthermore, the suitable bed height (3.5 cm) and step bed (3.5 cm with 2 steps) were necessary in order to well obtain the coalescer performance. The application of step bed coalescer process in reactor has provided the higher treatment efficiencies in term of COD removal than those obtained with classical process. The proposed model for predicting the area under curve and thus treatment efficiency, based on the single collector efficiency (ηT) and the attachment efficiency (α), provides relatively a good coincidence between the experimental and predicted values of treatment efficiencies in this study.

Keywords: Stage coalescer, stabilized emulsions, treatment efficiency, model prediction.

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5484 RDFGraph: New Data Modeling Tool for Semantic Web

Authors: Daniel Siahaan, Aditya Prapanca

Abstract:

The emerging Semantic Web has been attracted many researchers and developers. New applications have been developed on top of Semantic Web and many supporting tools introduced to improve its software development process. Metadata modeling is one of development process where supporting tools exists. The existing tools are lack of readability and easiness for a domain knowledge expert to graphically models a problem in semantic model. In this paper, a metadata modeling tool called RDFGraph is proposed. This tool is meant to solve those problems. RDFGraph is also designed to work with modern database management systems that support RDF and to improve the performance of the query execution process. The testing result shows that the rules used in RDFGraph follows the W3C standard and the graphical model produced in this tool is properly translated and correct.

Keywords: CASE tool, data modeling, semantic web

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5483 A Refined Energy-Based Model for Friction-Stir Welding

Authors: Samir A. Emam, Ali El Domiaty

Abstract:

Friction-stir welding has received a huge interest in the last few years. The many advantages of this promising process have led researchers to present different theoretical and experimental explanation of the process. The way to quantitatively and qualitatively control the different parameters of the friction-stir welding process has not been paved. In this study, a refined energybased model that estimates the energy generated due to friction and plastic deformation is presented. The effect of the plastic deformation at low energy levels is significant and hence a scale factor is introduced to control its effect. The predicted heat energy and the obtained maximum temperature using our model are compared to the theoretical and experimental results available in the literature and a good agreement is obtained. The model is applied to AA6000 and AA7000 series.

Keywords: Friction-stir welding, Energy, Aluminum Alloys.

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5482 The Adoption of Process Management for Accounting Information Systems in Thailand

Authors: Manirath Wongsim, Pawornprat Hongsakon

Abstract:

Information Quality (IQ) has become a critical, strategic issue in Accounting Information Systems (AIS) adoption. In order to implement AIS adoption successfully, it is important to consider the quality of information use throughout the adoption process, which seriously impacts the effectiveness of AIS adoption practice and the optimisation of AIS adoption decisions. There is a growing need for research to provide insights into issues and solutions related to IQ in AIS adoption. The need for an integrated approach to improve IQ in AIS adoption, as well as the unique characteristics of accounting data, demands an AIS adoption specific IQ framework. This research aims to explore ways of managing information quality and AIS adoption to investigate the relationship between the IQ issues and AIS adoption process. This study has led to the development of a framework for understanding IQ management in AIS adoption. This research was done on 44 respondents as ten organisations from manufacturing firms in Thailand. The findings of the research’s empirical evidence suggest that IQ dimensions in AIS adoption to provide assistance in all process of decision making. This research provides empirical evidence that information quality of AIS adoption affect decision making and suggests that these variables should be considered in adopting AIS in order to improve the effectiveness of AIS.

Keywords: Information quality, information quality dimensions, accounting information systems, accounting Information system adoption.

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5481 IT Workforce Enablement – How Cloud Computing Changes the Competence Mix of the IT Workforce

Authors: Dominik Krimpmann

Abstract:

Cloud computing has provided the impetus for change in the demand, sourcing, and consumption of IT-enabled services. The technology developed from an emerging trend towards a ‘musthave’. Many organizations harnessed on the quick-wins of cloud computing within the last five years but nowadays reach a plateau when it comes to sustainable savings and performance. This study aims to investigate what is needed from an organizational perspective to make cloud computing a sustainable success. The study was carried out in Germany among senior IT professionals, both in management and delivery positions. Our research shows that IT executives must be prepared to realign their IT workforce to sustain the advantage of cloud computing for today and the near future. While new roles will undoubtedly emerge, roles alone cannot ensure the success of cloud deployments. What is needed is a change in the IT workforce’s business behaviour, or put more simply, the ways in which the IT personnel works. It gives clear guidance on which dimensions of an employees’ working behaviour need to be adapted. The practical implications are drawn from a series of semi-structured interviews, resulting in a high-level workforce enablement plan. Lastly, it elaborates on tools and gives clear guidance on which pitfalls might arise along the proposed workforce enablement process.

Keywords: Cloud Computing, Organization Design, Organizational Change, Workforce Enablement.

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5480 Finite Element Prediction of Hip Fracture during a Sideways Fall

Authors: M. Ikhwan Z. Ridzwan, Bidyut Pal, Ulrich N. Hansen

Abstract:

Finite element method was applied to model damage development in the femoral neck during a sideways fall. The femoral failure was simulated using the maximum principal strain criterion. The evolution of damage was consistent with previous studies. It was initiated by compressive failure at the junction of the superior aspect of the femoral neck and the greater trochanter. It was followed by tensile failure that occurred at the inferior aspect of the femoral neck before a complete transcervical fracture was observed. The estimated failure line was less than 50° from the horizontal plane (Pauwels type II).

Keywords: Femoral Strength, Finite Element Models, Hip Fracture, Progressive Failure, Sideways Fall.

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5479 The Effect of Slow Variation of Base Flow Profile on the Stability of Slightly Curved Mixing Layers

Authors: Irina Eglite, Andrei A. Kolyshkin

Abstract:

The effect of small non-parallelism of the base flow on the stability of slightly curved mixing layers is analyzed in the present paper. Assuming that the instability wavelength is much smaller than the length scale of the variation of the base flow we derive an amplitude evolution equation using the method of multiple scales. The proposed asymptotic model provides connection between parallel flow approximations and takes into account slow longitudinal variation of the base flow.

Keywords: shallow water, parallel flow assumption, weaklynonlinear analysis, method of multiple scales

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5478 The Coupling of Photocatalytic Oxidation Processes with Activated Carbon Technologies and the Comparison of the Treatment Methods for Organic Removal from Surface Water

Authors: N. Areerachakul

Abstract:

The surface water used in this study was collected from the Chao Praya River at the lower part at the Nonthaburi bridge. It was collected and used throughout the experiment. TOC (also known as DOC) in the range between 2.5 to 5.6 mg/l were investigated in this experiment. The use of conventional treatment methods such as FeCl3 and PAC showed that TOC removal was 65% using FeCl3 and 78% using PAC (powder activated carbon). The advanced oxidation process alone showed only 35% removal of TOC. Coupling advanced oxidation with a small amount of PAC (0.05g/L) increased efficiency by upto 55%. The combined BAC with advanced oxidation process and small amount of PAC demonstrated the highest efficiency of up to 95% of TOC removal and lower sludge production compared with other methods.

Keywords: Advanced oxidation process, TOC, PAC

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5477 Customer Knowledge and Service Development, the Web 2.0 Role in Co-production

Authors: Roberto Boselli, Mirko Cesarini, Mario Mezzanzanica

Abstract:

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

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

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5476 Bifurcation and Chaos of the Memristor Circuit

Authors: Wang Zhulin, Min Fuhong, Peng Guangya, Wang Yaoda, Cao Yi

Abstract:

In this paper, a magnetron memristor model based on hyperbolic sine function is presented and the correctness proved by studying the trajectory of its voltage and current phase, and then a memristor chaotic system with the memristor model is presented. The phase trajectories and the bifurcation diagrams and Lyapunov exponent spectrum of the magnetron memristor system are plotted by numerical simulation, and the chaotic evolution with changing the parameters of the system is also given. The paper includes numerical simulations and mathematical model, which confirming that the system, has a wealth of dynamic behavior.

Keywords: Memristor, chaotic circuit, dynamical behavior, chaotic system.

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5475 A Review on Important Aspects of Information Retrieval

Authors: Yogesh Gupta, Ashish Saini, A.K. Saxena

Abstract:

Information retrieval has become an important field of study and research under computer science due to explosive growth of information available in the form of full text, hypertext, administrative text, directory, numeric or bibliographic text. The research work is going on various aspects of information retrieval systems so as to improve its efficiency and reliability. This paper presents a comprehensive study, which discusses not only emergence and evolution of information retrieval but also includes different information retrieval models and some important aspects such as document representation, similarity measure and query expansion.

Keywords: Information Retrieval, query expansion, similarity measure, query expansion, vector space model.

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5474 A Stochastic Diffusion Process Based on the Two-Parameters Weibull Density Function

Authors: Meriem Bahij, Ahmed Nafidi, Boujemâa Achchab, Sílvio M. A. Gama, José A. O. Matos

Abstract:

Stochastic modeling concerns the use of probability to model real-world situations in which uncertainty is present. Therefore, the purpose of stochastic modeling is to estimate the probability of outcomes within a forecast, i.e. to be able to predict what conditions or decisions might happen under different situations. In the present study, we present a model of a stochastic diffusion process based on the bi-Weibull distribution function (its trend is proportional to the bi-Weibull probability density function). In general, the Weibull distribution has the ability to assume the characteristics of many different types of distributions. This has made it very popular among engineers and quality practitioners, who have considered it the most commonly used distribution for studying problems such as modeling reliability data, accelerated life testing, and maintainability modeling and analysis. In this work, we start by obtaining the probabilistic characteristics of this model, as the explicit expression of the process, its trends, and its distribution by transforming the diffusion process in a Wiener process as shown in the Ricciaardi theorem. Then, we develop the statistical inference of this model using the maximum likelihood methodology. Finally, we analyse with simulated data the computational problems associated with the parameters, an issue of great importance in its application to real data with the use of the convergence analysis methods. Overall, the use of a stochastic model reflects only a pragmatic decision on the part of the modeler. According to the data that is available and the universe of models known to the modeler, this model represents the best currently available description of the phenomenon under consideration.

Keywords: Diffusion process, discrete sampling, likelihood estimation method, simulation, stochastic diffusion equation, trends functions, bi-parameters Weibull density function.

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5473 Multi-Objective Optimization of Electric Discharge Machining for Inconel 718

Authors: Pushpendra S. Bharti, S. Maheshwari

Abstract:

Electric discharge machining (EDM) is one of the most widely used non-conventional manufacturing process to shape difficult-to-cut materials. The process yield, in terms of material removal rate, surface roughness and tool wear rate, of EDM may considerably be improved by selecting the optimal combination(s) of process parameters. This paper employs Multi-response signal-to-noise (MRSN) ratio technique to find the optimal combination(s) of the process parameters during EDM of Inconel 718. Three cases v.i.z. high cutting efficiency, high surface finish, and normal machining have been taken and the optimal combinations of input parameters have been obtained for each case. Analysis of variance (ANOVA) has been employed to find the dominant parameter(s) in all three cases. The experimental verification of the obtained results has also been made. MRSN ratio technique found to be a simple and effective multi-objective optimization technique.

Keywords: EDM, material removal rate, multi-response signal-to-noise ratio, optimization, surface roughness.

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5472 Low-complexity Integer Frequency Offset Synchronization for OFDMA System

Authors: Young-Jae Kim, Young-Hwan You

Abstract:

This paper presents a integer frequency offset (IFO) estimation scheme for the 3GPP long term evolution (LTE) downlink system. Firstly, the conventional joint detection method for IFO and sector cell index (CID) information is introduced. Secondly, an IFO estimation without explicit sector CID information is proposed, which can operate jointly with the proposed IFO estimation and reduce the time delay in comparison with the conventional joint method. Also, the proposed method is computationally efficient and has almost similar performance in comparison with the conventional method over the Pedestrian and Vehicular channel models.

Keywords: LTE, OFDMA, primary synchronization signal (PSS), IFO, CID

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5471 Learning Materials of Atmospheric Pressure Plasma Process: Turning Hydrophilic Surface to Hydrophobic

Authors: C.W. Kan

Abstract:

This paper investigates the use of atmospheric pressure plasma for improving the surface hydrophobicity of polyurethane synthetic leather with tetramethylsilane (TMS). The atmospheric pressure plasma treatment with TMS is a single-step process to enhance the hydrophobicity of polyurethane synthetic leather. The hydrophobicity of the treated surface was examined by contact angle measurement. The physical and chemical surface changes were evaluated by scanning electron microscopy (SEM) and infrared spectroscopy (FTIR). The purpose of this paper is to provide learning materials for understanding how to use atmospheric pressure plasma in the textile finishing process to transform a hydrophilic surface to hydrophobic.

Keywords: Learning materials, atmospheric pressure plasma treatment, hydrophobic, hydrophilic, surface.

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5470 Solving Process Planning, Weighted Earliest Due Date Scheduling and Weighted Due Date Assignment Using Simulated Annealing and Evolutionary Strategies

Authors: Halil Ibrahim Demir, Abdullah Hulusi Kokcam, Fuat Simsir, Özer Uygun

Abstract:

Traditionally, three important manufacturing functions which are process planning, scheduling and due-date assignment are performed sequentially and separately. Although there are numerous works on the integration of process planning and scheduling and plenty of works focusing on scheduling with due date assignment, there are only a few works on integrated process planning, scheduling and due-date assignment. Although due-dates are determined without taking into account of weights of the customers in the literature, here weighted due-date assignment is employed to get better performance. Jobs are scheduled according to weighted earliest due date dispatching rule and due dates are determined according to some popular due date assignment methods by taking into account of the weights of each job. Simulated Annealing, Evolutionary Strategies, Random Search, hybrid of Random Search and Simulated Annealing, and hybrid of Random Search and Evolutionary Strategies, are applied as solution techniques. Three important manufacturing functions are integrated step-by-step and higher integration levels are found better. Search meta-heuristics are found to be very useful while improving performance measure.

Keywords: Evolutionary strategies, hybrid searches, process planning, simulated annealing, weighted due-date assignment, weighted scheduling.

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5469 Chatter Suppression in Boring Process Using Passive Damper

Authors: V. Prasannavenkadesan, A. Elango, S. Chockalingam

Abstract:

During machining process, chatter is an unavoidable phenomenon. Boring bars possess the cantilever shape and due to this, it is subjected to chatter. The adverse effect of chatter includes the increase in temperature which will leads to excess tool wear. To overcome these problems, in this investigation, Cartridge brass (Cu – 70% and Zn – 30%) is passively fixed on the boring bar and also clearance is provided in order to reduce the displacement, tool wear and cutting temperature. A conventional all geared lathe is attached with vibrometer and pyrometer is used to measure the displacement and temperature. The influence of input parameters such as cutting speed, depth of cut and clearance on temperature, tool wear and displacement are investigated for various cutting conditions. From the result, the optimum conditions to obtain better damping in boring process for chatter reduction is identified.

Keywords: Boring, chatter, mass damping, passive damping.

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5468 The Application of Real Options to Capital Budgeting

Authors: George Yungchih Wang

Abstract:

Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.

Keywords: real options, capital budgeting, geometric Brownianmotion, mixed diffusion-jump, mean-reverting process

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5467 Lattice Boltzmann Simulation of the Carbonization of Wood Particle

Authors: Ahmed Mahmoudi, Imen Mejri, Mohamed A. Abbassi, Ahmed Omri

Abstract:

A numerical study based on the Lattice Boltzmann Method (LBM) is proposed to solve one, two and three dimensional heat and mass transfer for isothermal carbonization of thick wood particles. To check the validity of the proposed model, computational results have been compared with the published data and a good agreement is obtained. Then, the model is used to study the effect of reactor temperature and thermal boundary conditions, on the evolution of the local temperature and the mass distributions of the wood particle during carbonization

Keywords: Lattice Boltzmann Method, pyrolysis conduction, carbonization, Heat and mass transfer.

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5466 Study on the Effect of Weight Percentage Variation and Size Variation of Magnesium Ferrosilicon Added, Gating System Design and Reaction Chamber Design on Inmold Process

Authors: A. Miss May Thu Zar Myint, B. Dr. Kay Thi Lwin

Abstract:

This research focuses on the effect of weight percentage variation and size variation of MgFeSi added, gating system design and reaction chamber design on inmold process. By using inmold process, well-known problem of fading is avoided because the liquid iron reacts with magnesium in the mold and not, as usual, in the ladle. During the pouring operation, liquid metal passes through the chamber containing the magnesium, where the reaction of the metal with magnesium proceeds in the absence of atmospheric oxygen [1].In this paper, the results of microstructural characteristic of ductile iron on this parameters are mentioned. The mechanisms of the inmold process are also described [2]. The data obtained from this research will assist in producing the vehicle parts and other machinery parts for different industrial zones and government industries and in transferring the technology to all industrial zones in Myanmar. Therefore, the inmold technology offers many advantages over traditional treatment methods both from a technical and environmental, as well as an economical point of view. The main objective of this research is to produce ductile iron castings in all industrial sectors in Myanmar more easily with lower costs. It will also assist the sharing of knowledge and experience related to the ductile iron production.

Keywords: ductile iron, inmold process, magnesiumtreatment, microstructural characteristics.

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5465 Simulation Method for Determining the Thermally Induced Displacement of Machine Tools – Experimental Validation and Utilization in the Design Process

Authors: G. Kehl, P. Wagner

Abstract:

A novel simulation method to determine the displacements of machine tools due to thermal factors is presented. The specific characteristic of this method is the employment of original CAD data from the design process chain, which is interpreted by an algorithm in terms of geometry-based allocation of convection and radiation parameters. Furthermore analogous models relating to the thermal behaviour of machine elements are automatically implemented, which were gained by extensive experimental testing with thermography imaging. With this a transient simulation of the thermal field and in series of the displacement of the machine tool is possible simultaneously during the design phase. This method was implemented and is already used industrially in the design of machining centres in order to improve the quality of herewith manufactured workpieces.

Keywords: Accuracy, design process, finite element analysis, machine tools, thermal simulation.

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