Search results for: Momentum profits

Authors: Michael Grigutsch, Peter Nyhuis

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Due to the volatile global economy, enterprises are increasingly focusing on logistics. By investing in suitable measures a company can increase their logistic performance and assert themselves over the competition. However, enterprises are also faced with the challenge of investing available capital for maximum profits. In order to be able to create an informed and quantifiably comprehensible basis for a decision, enterprises need a suitable model for logistically and monetarily evaluating measures in production. Previously, within the frame of Collaborate Research Centre 489 (SFB 489) at the Institute for Production Systems and Logistics, (IFA) a Logistic Information System was developed specifically for providing enterprises in the forging industry with support when making decisions. Based on this research, a new initiative referred to as ‘Transfer Project T7’, aims to develop a universal approach for logistically and monetarily evaluating production measures. This paper focuses on the structural measure echelon storage and their impact on the entire production system.

Keywords: Logistic Operating Curves, Transfer Functions, Production Logistics, Storages Echelon.

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Authors: S. W. Nawawi, M. N. Ahmad, J. H. S. Osman

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The research on two-wheeled inverted pendulum (TWIP) mobile robots or commonly known as balancing robots have gained momentum over the last decade in a number of robotic laboratories around the world. This paper describes the hardware design of such a robot. The objective of the design is to develop a TWIP mobile robot as well as MATLAB interfacing configuration to be used as flexible platform comprises of embedded unstable linear plant intended for research and teaching purposes. Issues such as selection of actuators and sensors, signal processing units, MATLAB Real Time Workshop coding, modeling and control scheme will be addressed and discussed. The system is then tested using a wellknown state feedback controller to verify its functionality.

Keywords: Embedded System, Two-wheeled Inverted Pendulum Mobile Robot.

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Authors: Krishnan V. Pagalthivarthi, Pankaj K. Gupta, Vipin Tyagi, M. R. Ravi

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Dense slurry flow through centrifugal pump casing has been modeled using the Eulerian-Eulerian approach with Eulerian multiphase model in FLUENT 6.1®. First order upwinding is considered for the discretization of momentum, k and ε terms. SIMPLE algorithm has been applied for dealing with pressurevelocity coupling. A mixture property based k-ε turbulence model has been used for modeling turbulence. Results are validated first against mesh independence and experiments for a particular set of operational and geometric conditions. Parametric analysis is then performed to determine the effect on important physical quantities viz. solid velocities, solid concentration and solid stresses near the wall with various operational geometric conditions of the pump.

Keywords: Centrifugal pump casing, Dense slurry, Solidsconcentration, Wall shear stress, Pump geometric parameters.

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Authors: M. Jahanandish, Gh. Sadeghian, M. H. Daneshvar, M. H. Jahanandish

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The amount of resistance of a particular medium like soil to the moving objects is the interest of many areas in science. These include soil mechanics, geotechnical engineering, powder mechanics etc. Knowledge of drag force is also used for estimating the amount of momentum of fired objects like bullets. This paper focuses on measurement of drag force of sand on a cone when it moves at a low constant speed. A 30-degree apex angle cone has been used for this purpose. The study consisted of both loose and dense conditions of the soil. The applied speed has been in the range of 0.1 to 10 mm/min. The results indicate that the required force is basically independent of the cone speed; but, it is very dependent on the material densification and confining stress.

Keywords: Drag force, sand, moving speed, friction angle, densification, confining stress.

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Authors: Sanja Pfeifer, Nataša Šarlija, Marina Jeger, Ana Bilandžić

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The purpose of this study is to explore the different facets of growth among micro, small and medium-sized firms in Croatia and to analyze the differences between models designed for all micro, small and medium-sized firms and those in creative industries. Three growth prediction models were designed and tested using the growth of sales, employment and assets of the company as dependent variables. The key drivers of sales growth are: prudent use of cash, industry affiliation and higher share of intangible assets. Growth of assets depends on retained profits, internal and external sources of financing, as well as industry affiliation. Growth in employment is closely related to sources of financing, in particular, debt and it occurs less frequently than growth in sales and assets. The findings confirm the assumption that growth strategies of small and medium-sized enterprises (SMEs) in creative industries have specific differences in comparison to SMEs in general. Interestingly, only 2.2% of growing enterprises achieve growth in employment, assets and sales simultaneously.

Keywords: Creative industries, growth prediction model, growth determinants, growth measures.

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Authors: Stefaan Pauwels, Koen Inghelbrecht, Dries Heyman, Pieter Marius

Abstract:

Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.

Keywords: technical trading rules, Reality Check, Superior Predictive Ability, emerging stock markets, data snooping

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Authors: Abbas Al-Refaie, Nour Bata

Abstract:

A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimated demand model is formulated. Finally, the profit models are constructed then used to determine the ideal product family design that maximizes profit. Conjoint analysis is used to explore customer preferences with their satisfaction levels. A total of 200 surveys are collected about customer preferences. Then, simulation is used to determine the importance values for each attribute. Finally, sensitivity analysis is conducted to determine the product family design that maximizes both objectives. In conclusion, the results of this research shall provide great support to Apple distributors in determining the best marketing strategies that enhance their market share.

Keywords: Market segmentation, conjoint analysis, market strategies, optimization.

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Authors: T. M. Ismail, M. Abd El-Salam

Abstract:

A mathematical model study was carried out to investigate gasification of biomass fuels using high temperature air and steam as a gasifying agent using high-temperature air up to 1000°C. In this study, a 2D computational fluid dynamics model was developed to study the gasification process in an updraft gasifier, considering drying, pyrolysis, combustion, and gasification reactions. The gas and solid phases were resolved using a Euler−Euler multiphase approach, with exchange terms for the momentum, mass, and energy. The standard k−ε turbulence model was used in the gas phase, and the particle phase was modeled using the kinetic theory of granular flow. The results show that the present model giving a promise way in its capability and sensitivity for the parameter affects that influence the gasification process.

Keywords: Computational fluid dynamics, gasification, biomass fuel, fixed bed gasifier

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Authors: Cheng-En Tsai, Chung-Chun Hsiao, Fu-Yuan Chang, Liang-Lun Lan, Jia-Ying Tu

Abstract:

New design of three dimensional (3D) flywheel system based on gimbal and gyro mechanics is proposed. The 3D flywheel device utilizes the rotational motion of three spherical shells and the conservation of angular momentum to achieve planar locomotion. Actuators mounted to the ring-shape frames are installed within the system to drive the spherical shells to rotate, for the purpose of steering and stabilization. Similar to the design of 2D flywheel system, it is expected that the spherical shells may function like a “flyball” to store and supply mechanical energy; additionally, in comparison with typical single-wheel and spherical robots, the 3D flywheel can be used for developing omnidirectional robotic systems with better mobility. The Lagrangian method is applied to derive the equation of motion of the 3D flywheel system, and simulation studies are presented to verify the proposed design.

Keywords: Gimbal, spherical robot, gyroscope, Lagrangian formulation, flyball.

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Authors: Cheng-En Tsai, Chung-Chun Hsiao, Fu-Yuan Chang, Liang-Lun Lan, Jia-Ying Tu

Abstract:

New design of three dimensional (3D) flywheel system based on gimbal and gyro mechanics is proposed. The 3D flywheel device utilizes the rotational motion of three spherical shells and the conservation of angular momentum to achieve planar locomotion. Actuators mounted to the ring-shape frames are installed within the system to drive the spherical shells to rotate, for the purpose of steering and stabilization. Similar to the design of 2D flywheel system, it is expected that the spherical shells may function like a “flyball” to store and supply mechanical energy; additionally, in comparison with typical single-wheel and spherical robots, the 3D flywheel can be used for developing omnidirectional robotic systems with better mobility. The Lagrangian method is applied to derive the equation of motion of the 3D flywheel system, and simulation studies are presented to verify the proposed design.

Keywords: Gimbal, spherical robot, gyroscope, Lagrangian formulation, flyball.

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Authors: M. R. Soltani, M. Seddighi, M. Mahmoudi

Abstract:

Extensive wind tunnel tests have been conducted to investigate the unsteady flow field over and behind a 2D model of a 660 kW wind turbine blade section in pitching motion. The surface pressure and wake dynamic pressure variation at a distance of 1.5 chord length from trailing edge were measured by pressure transducers during several oscillating cycles at 3 reduced frequencies and oscillating amplitudes. Moreover, form drag and linear momentum deficit are extracted and compared at various conditions. The results show that the wake velocity field and surface pressure of the model have similar behavior before and after the airfoil beyond the static stall angle of attack. In addition, the effects of reduced frequency and oscillation amplitudes are discussed.

Keywords: Pitching motion, form drag, Profile drag, windturbine.

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Authors: K. Boualem, T. Yahiaoui, A. Azzi

Abstract:

Numerical investigations are performed to analyze the flow behavior over NACA0015 and to evaluate the efficiency of synthetic jet as active control device. The second objective of this work is to investigate the influence of momentum coefficient of synthetic jet on the flow behaviour. The unsteady Reynolds-averaged Navier-Stokes equations of the turbulent flow are solved using, k-ω SST provided by ANSYS CFX-CFD code. The model presented in this paper is a comprehensive representation of the information found in the literature. Comparison of obtained numerical flow parameters with the experimental ones shows that the adopted computational procedure reflects nearly the real flow nature. Also, numerical results state that use of synthetic jets devices has positive effects on the flow separation, and thus, aerodynamic performance improvement of NACA0015 airfoil. It can also be observed that the use of synthetic jet increases the lift coefficient about 13.3% and reduces the drag coefficient about 52.7%.

Keywords: Active control, CFD, NACA airfoil, synthetic jet.

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Authors: J. Miao, C. W. Leung, C. S. Cheung, R. C. K. Leung

Abstract:

The present project was conducted with the circumferential-fuel-jets inverse diffusion flame (CIDF) burner burning liquefied petroleum gas (LPG) enriched with 50% of hydrogen fuel (H2). The range of stable operation of the CIDF burner in terms of Reynolds number (from laminar to turbulent flow regions), equivalence ratio and fuel jet velocity of LPG of the 50% H2-LPG mixed fuel was identified. Experiments were also carried out to investigate the flame structures of the LPG flame and LPG enriched H2 flame. Experimental results obtained from these two flames were compared to fully explore the influence of hydrogen addition on flame stability. Flame heights obtained by burning these two kinds of fuels at various equivalence ratios were compared and correlated with the Global Momentum Ratio (GMR).

Keywords: Flame stability, hydrogen enriched LPG, inverse diffusion flame.

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Authors: Phool Singh, Ashok Jangid, N.S. Tomer, Deepa Sinha

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The aim of this paper is to study the oblique stagnation point flow on vertical plate with uniform surface heat flux in presence of magnetic field. Using Stream function, partial differential equations corresponding to the momentum and energy equations are converted into non-linear ordinary differential equations. Numerical solutions of these equations are obtained using Runge-Kutta Fehlberg method with the help of shooting technique. In the present work the effects of striking angle, magnetic field parameter, Grashoff number, the Prandtl number on velocity and heat transfer characteristics have been discussed. Effect of above mentioned parameter on the position of stagnation point are also studied.

Keywords: Heat flux, Oblique stagnation point, Mixedconvection, Magneto hydrodynamics

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Authors: A. N. K. Nasir, M. A. Ahmad, R. M. T. Raja Ismail

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The research on two-wheels balancing robot has gained momentum due to their functionality and reliability when completing certain tasks. This paper presents investigations into the performance comparison of Linear Quadratic Regulator (LQR) and PID-PID controllers for a highly nonlinear 2–wheels balancing robot. The mathematical model of 2-wheels balancing robot that is highly nonlinear is derived. The final model is then represented in statespace form and the system suffers from mismatched condition. Two system responses namely the robot position and robot angular position are obtained. The performances of the LQR and PID-PID controllers are examined in terms of input tracking and disturbances rejection capability. Simulation results of the responses of the nonlinear 2–wheels balancing robot are presented in time domain. A comparative assessment of both control schemes to the system performance is presented and discussed.

Keywords: PID, LQR, Two-wheels balancing robot.

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Authors: J. D. Burges, M. J. Hall, E. G. Lightsey

Abstract:

A new dual-fluid concept was studied that could eventually find application for cold-gas propulsion for small space satellites or other constant flow applications. In basic form, the concept uses two different refrigerant working fluids, each having a different saturation vapor pressure. The higher vapor pressure refrigerant remains in the saturation phase and is used to pressurize the lower saturation vapor pressure fluid (the propellant) which remains in the compressed liquid phase. A demonstration thruster concept based on this principle was designed and built to study its operating characteristics. An automotive-type electronic fuel injector was used to meter and deliver the propellant. Ejected propellant mass and momentum were measured for several combinations of refrigerants and hydrocarbon fluids. The thruster has the advantage of delivering relatively large total impulse at low tank pressure within a small volume.

Keywords: cold-gas, nano-satellite, R134a, thruster

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Authors: Thomas Paris, Vincent Bruyere, Patrick Namy

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A numerical model is developed to simulate gas blowdowns through a thin tube and a filter (porous media), separating a high pressure gas filled reservoir to low pressure ones. Based on a previous work, a one-dimensional approach is developed by using the finite element method to solve the transient compressible flow and to predict the pressure and temperature evolution in space and time. Mass, momentum, and energy conservation equations are solved in a fully coupled way in the reservoirs, the pipes and the porous media. Numerical results, such as pressure and temperature evolutions, are firstly compared with experimental data to validate the model for different configurations. Couplings between porous media and pipe flow are then validated by checking mass balance. The influence of the porous media and the nature of the gas is then studied for different initial high pressure values.

Keywords: Fluid mechanics, compressible flow, heat transfer, porous media.

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Authors: Sahar Noori, Seyed Amir Hossein, Mohammad Ebrahimi

Abstract:

This paper is devoted to predict laminar and turbulent heating rates around blunt re-entry spacecraft at hypersonic conditions. Heating calculation of a hypersonic body is normally performed during the critical part of its flight trajectory. The procedure is of an inverse method, where a shock wave is assumed, and the body shape that supports this shock, as well as the flowfield between the shock and body, are calculated. For simplicity the normal momentum equation is replaced with a second order pressure relation; this simplification significantly reduces computation time. The geometries specified in this research, are parabola and ellipsoids which may have conical after bodies. An excellent agreement is observed between the results obtained in this paper and those calculated by others- research. Since this method is much faster than Navier-Stokes solutions, it can be used in preliminary design, parametric study of hypersonic vehicles.

Keywords: Aerodynamic Heating, Blunt Body, Hypersonic Flow, Laminar, Turbulent.

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Authors: M. Battira, R. Bessaih

Abstract:

We numerically study the three-dimensional magnetohydrodynamics (MHD) stability of oscillatory natural convection flow in a rectangular cavity, with free top surface, filled with a liquid metal, having an aspect ratio equal to A=L/H=5, and subjected to a transversal temperature gradient and a uniform magnetic field oriented in x and z directions. The finite volume method was used in order to solve the equations of continuity, momentum, energy, and potential. The stability diagram obtained in this study highlights the dependence of the critical value of the Grashof number Grcrit , with the increase of the Hartmann number Ha for two orientations of the magnetic field. This study confirms the possibility of stabilization of a liquid metal flow in natural convection by application of a magnetic field and shows that the flow stability is more important when the direction of magnetic field is longitudinal than when the direction is transversal.

Keywords: Natural convection, Magnetic field, Oscillatory, Cavity, Liquid metal.

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Authors: Mohammad Soliman, Mohamed A. Abou-Shouk

Abstract:

Knowledge management focuses on the development, storage, retrieval, and dissemination of information and expertise. It has become an important tool to improve performance in tourism enterprises. This includes improving decision-making, developing customer services, and increasing sales and profits. Knowledge management adoption depends on human, organizational and technological factors. This study aims to explore the concept of knowledge management in travel agents in Egypt. It explores the requirements of adoption and its impact on performance in these agencies. The study targets Category A travel agents in Egypt. The population of the study encompasses Category A travel agents having online presence. An online questionnaire is used to collect data from managers of travel agents. This study is useful for travel agents who are in urgent need to restructure their intermediary role and support their survival in the global travel market. The study sheds light on the requirements of adoption and the expected impact on performance. This could help travel agents identify their situation and the determine the extent to which they are ready to adopt knowledge management. This study is contributing to knowledge by providing insights from the tourism sector in a developing country where the concept of knowledge management is still in its infancy stages.

Keywords: Benefits, determinants, Egypt, knowledge management, travel agents.

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Authors: Mahmoud Zarrini, R. N. Pralhad

Abstract:

We estimate snow velocity and snow drift density on hilly terrain under the assumption that the drifting snow mass can be represented using a micro-continuum approach (i.e. using a nonclassical mechanics approach assuming a class of fluids for which basic equations of mass, momentum and energy have been derived). In our model, the theory of coupled stress fluids proposed by Stokes [1] has been employed for the computation of flow parameters. Analyses of bulk drift velocity, drift density, drift transport and mass transport of snow particles have been carried out and computations made, considering various parametric effects. Results are compared with those of classical mechanics (logarithmic wind profile). The results indicate that particle size affects the flow characteristics significantly.

Keywords: Snow velocity, snow drift density, mass transport of snow particles, snow avalanche.

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Authors: Khaled S. Abdallah, Abdel-Aziz M. Mohamed

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Moving industries consume numerous resources and dispose masses of used packaging materials. Proper sorting, recycling and disposing the packaging materials is necessary to avoid a sever pollution disaster. This research paper presents a conceptual model to propose sustainable truck rental operations instead of the regular one. An optimization model was developed to select the locations of truck rental centers, collection sites, maintenance and repair sites, and identify the rental fees to be charged for all routes that maximize the total closed supply chain profits. Fixed costs of vehicle purchasing, costs of constructing collection centers and repair centers, as well as the fixed costs paid to use disposal and recycling centers are considered. Operating costs include the truck maintenance, repair costs as well as the cost of recycling and disposing the packing materials, and the costs of relocating the truck are presented in the model. A mixed integer model is developed followed by a simulation model to examine the factors affecting the operation of the model.

Keywords: Modeling, truck rental, supply chains management, simulation.

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Authors: S. M. Ghoreishi, R. Gholami Shahrestani, S. H. Ghaziaskar

Abstract:

Subcritical water extraction was investigated as a novel and alternative technology in the food and pharmaceutical industry for the separation of Mannitol from olive leaves and its results was compared with those of Soxhlet extraction. The effects of temperature, pressure, and flow rate of water and also momentum and mass transfer dimensionless variables such as Reynolds and Peclet Numbers on extraction yield and equilibrium partition coefficient were investigated. The 30-110 bars, 60-150°C, and flow rates of 0.2-2 mL/min were the water operating conditions. The results revealed that the highest Mannitol yield was obtained at 100°C and 50 bars. However, extraction of Mannitol was not influenced by the variations of flow rate. The mathematical modeling of experimental measurements was also investigated and the model is capable of predicting the experimental measurements very well. In addition, the results indicated higher extraction yield for the subcritical water extraction in contrast to Soxhlet method.

Keywords: Extraction, Mannitol, Modeling, Olive leaves, Soxhlet extraction, Subcritical water.

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Authors: Salvatore Marra, Francesco C. Morabito

Abstract:

In this paper we present an efficient approach for the prediction of two sunspot-related time series, namely the Yearly Sunspot Number and the IR5 Index, that are commonly used for monitoring solar activity. The method is based on exploiting partially recurrent Elman networks and it can be divided into three main steps: the first one consists in a “de-rectification" of the time series under study in order to obtain a new time series whose appearance, similar to a sum of sinusoids, can be modelled by our neural networks much better than the original dataset. After that, we normalize the derectified data so that they have zero mean and unity standard deviation and, finally, train an Elman network with only one input, a recurrent hidden layer and one output using a back-propagation algorithm with variable learning rate and momentum. The achieved results have shown the efficiency of this approach that, although very simple, can perform better than most of the existing solar activity forecasting methods.

Keywords: Elman neural networks, sunspot, solar activity, time series prediction.

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Authors: Mouna Benfssahi, Zoubir El Felsoufi

Abstract:

For many enterprises, the delocalization of a part or the totality of their supply chain to low cost countries is the best way to reduce costs and remain competitive against the growing globalized market. This new tendency is driven by logistics advantages, as well as, financial and tax discount offered by the host countries. The objective of this article is to examine the new financial challenges introduced by the project of base erosion and profits shifting (BEPS), published in 2015, and also their impact on the decision of delocalization. In fact, the strategy adopted by multinational firms for determining the transfer price (TP) of goods and services, as well as the shared amount of revenues and expenses have a major impact upon group profit and may contribute to divergent results. In order to get more profit, a coherent decision of delocalization should be based on an evaluation of all the operational and financial characteristics associated with such movement. Therefore, it is interesting to model these new constraints and integrate them in a more global decision model. The established model will enable to measure how much these financial constraints impact the decision of delocalization and will give new helpful directives for enterprise managers.

Keywords: Delocalization, intragroup transaction, multinational firms, optimization model, supply chain management, transfer pricing.

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Authors: Evgeniy Burlutskiy

Abstract:

The paper presents a one-dimensional transient mathematical model of compressible thermal multi-component gas mixture flows in pipes. The set of the mass, momentum and enthalpy conservation equations for gas phase is solved. Thermo-physical properties of multi-component gas mixture are calculated by solving the Equation of State (EOS) model. The Soave-Redlich-Kwong (SRK-EOS) model is chosen. Gas mixture viscosity is calculated on the basis of the Lee-Gonzales-Eakin (LGE) correlation. Numerical analysis on rapid decompression in conventional dry gases is performed by using the proposed mathematical model. The model is validated on measured values of the decompression wave speed in dry natural gas mixtures. All predictions show excellent agreement with the experimental data at high and low pressure. The presented model predicts the decompression in dry natural gas mixtures much better than GASDECOM and OLGA codes, which are the most frequently-used codes in oil and gas pipeline transport service.

Keywords: Mathematical model, Rapid Gas Decompression

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Authors: Martin Böhmer, Agatha Dabrowski, Boris Otto

Abstract:

The trend of digitization significantly changes the role of data for enterprises. Data turn from an enabler to an intangible organizational asset that requires management and qualifies as a tradeable good. The idea of a networked economy has gained momentum in the data domain as collaborative approaches for data management emerge. Traditional organizational knowledge consequently needs to be extended by comprehensive knowledge about data. The knowledge about data is vital for organizations to ensure that data quality requirements are met and data can be effectively utilized and sovereignly governed. As this specific knowledge has been paid little attention to so far by academics, the aim of the research presented in this paper is to conceptualize it by proposing a “data knowledge model”. Relevant model entities have been identified based on a design science research (DSR) approach that iteratively integrates insights of various industry case studies and literature research.

Keywords: Data management, digitization, Industry 4.0, knowledge engineering, metamodel.

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Authors: A.Memari

Abstract:

In this article, a simulation method called the Homotopy Perturbation Method (HPM) is employed in the steady flow of a Walter's B' fluid in a vertical channel with porous wall. We employed Homotopy Perturbation Method to derive solution of a nonlinear form of equation obtained from exerting similarity transforming to the ordinary differential equation gained from continuity and momentum equations of this kind of flow. The results obtained from the Homotopy Perturbation Method are then compared with those from the Runge–Kutta method in order to verify the accuracy of the proposed method. The results show that the Homotopy Perturbation Method can achieve good results in predicting the solution of such problems. Ultimately we use this solution to obtain the other terms of velocities and physical discussion about it.

Keywords: Steady flow; Walter's B' Fluid;, vertical channel;porous media, Homotopy Perturbation Method (HPM), Numerical Solution (NS).

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Authors: Khaled. M. Faqih

Abstract:

A model of vortex wake is suggested to determine the induced power during animal hovering flight. The wake is modeled by a series of equi-spaced rigid rectangular vortex plates, positioned horizontally and moving vertically downwards with identical speeds; each plate is generated during powering of the functionally wing stroke. The vortex representation of the wake considered in the current theory allows a considerable loss of momentum to occur. The current approach accords well with the nature of the wingbeat since it considers the unsteadiness in the wake as an important fluid dynamical characteristic. Induced power in hovering is calculated as the aerodynamic power required to generate the vortex wake system. Specific mean induced power to mean wing tip velocity ratio is determined by solely the normal spacing parameter (f) for a given wing stroke amplitude. The current theory gives much higher specific induced power estimate than anticipated by classical methods.

Keywords: vortex theory, hovering flight, induced power, Prandlt's tip theory.

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Authors: Jan Cernohorsky

Abstract:

This article aims to assess the evolution of imperfect competition in selected banking markets, in particular in the banking markets of Slovakia, Poland, Hungary, Slovenia and Croatia. Another objective is to assess the evolution of the relationship of imperfect competition and profit development in the banking markets. The article first provides an overview of literature on the topic. It then measures the degree of imperfect competition in individual markets using the Herfindahl-Hirschman Index. The commonly used indicator of total assets was chosen as an indicator. Based on this measurement, the individual banking sectors are categorized into theoretical definitions of the various types of imperfect competition - namely all surveyed banking sectors falling within the theoretical definition of monopolistic competition. Subsequently, using correlation analysis, i.e., the Pearson correlation coefficient, or the Spearman correlation coefficient, the connection between the evolution of imperfect competition and the development of the gross profit on selected banking markets was surveyed. It was found that with the exception of the banking market in Slovenia, where there is a positive correlation; there is no correlation between the evolution of imperfect competition and profit development in the selected markets. This means a recommendation for the regulators that it is not appropriate to rationalize a higher degree of regulation in granting banking licenses on the size of the profits attained in the banking market, as the relationship between the degree of concentration in the banking market and the amount of profit according to our measurements does not exist.

Keywords: Banking system, imperfect competition, profitability.

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