Search results for: internal market

Authors: M. Rad, M. Dolatshahi Pirooz, M. Esmayili

Abstract:

To understand the seismic behavior of the offshore structures, the dynamic interaction of the water-structure-soil should be assessed. In this regard the role of the water dynamic properties in magnifying or reducing of the effects of earthquake induced motions on offshore structures haven't been investigated in precise manner in available literature. In this paper the sea water level fluctuations effects on the seismic behavior of a sample of offshore structures has been investigated by emphasizing on the water-structure interaction phenomenon. For this purpose a two dimensional finite element model of offshore structures as well as surrounded water has been developed using ANSYS software. The effect of soil interaction with embedded pile foundation has been imposed by using a series of nonlinear springs in horizontal and vertical directions in soil-piles contact points. In the model, the earthquake induced motions have been applied on springs and consequently the motions propagated upward to the structure and surrounded water. As a result of numerical study, the horizontal deformations of the offshore deck as well as internal force and buckling coefficient in structural elements have been recorded and controlled with and without water presence. In part of study a parametric study has been accomplished on sea water level fluctuations and effect of this parameter has been studied on the aforementioned numerical results.

Keywords: Fluid-Structure Interaction, Jacket, Sea Water Level, Seismic Loading.

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Authors: Diego Giuseppe Romano, Gianvito Apuleo, Jiri Duda

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Mobility is one of the most important societal needs for amusement, business activities and health. Thus, transport needs are continuously increasing, with the consequent traffic congestion and pollution increase. Aeronautic effort aims at smarter infrastructures use and in introducing greener concepts. A possible solution to address the abovementioned topics is the development of Small Air Transport (SAT) system, able to guarantee operability from today underused airfields in an affordable and green way, helping meanwhile travel time reduction, too. In the framework of Horizon2020, EU (European Union) has funded the Clean Sky 2 SAT TA (Transverse Activity) initiative to address market innovations able to reduce SAT operational cost and environmental impact, ensuring good levels of operational safety. Nowadays, most of the key technologies to improve passenger comfort and to reduce community noise, DOC (Direct Operating Costs) and pilot workload for SAT have reached an intermediate level of maturity TRL (Technology Readiness Level) 3/4. Thus, the key technologies must be developed, validated and integrated on dedicated ground and flying aircraft demonstrators to reach higher TRL levels (5/6). Particularly, SAT TA focuses on the integration at aircraft level of the following technologies [1]: 1)    Low-cost composite wing box and engine nacelle using OoA (Out of Autoclave) technology, LRI (Liquid Resin Infusion) and advance automation process. 2) Innovative high lift devices, allowing aircraft operations from short airfields (< 800 m). 3) Affordable small aircraft manufacturing of metallic fuselage using FSW (Friction Stir Welding) and LMD (Laser Metal Deposition). 4)       Affordable fly-by-wire architecture for small aircraft (CS23 certification rules). 5) More electric systems replacing pneumatic and hydraulic systems (high voltage EPGDS -Electrical Power Generation and Distribution System-, hybrid de-ice system, landing gear and brakes). 6) Advanced avionics for small aircraft, reducing pilot workload. 7) Advanced cabin comfort with new interiors materials and more comfortable seats. 8) New generation of turboprop engine with reduced fuel consumption, emissions, noise and maintenance costs for 19 seats aircraft. (9) Alternative diesel engine for 9 seats commuter aircraft. To address abovementioned market innovations, two different platforms have been designed: Reference and Green aircraft. Reference aircraft is a virtual aircraft designed considering 2014 technologies with an existing engine assuring requested take-off power; Green aircraft is designed integrating the technologies addressed in Clean Sky 2. Preliminary integration of the proposed technologies shows an encouraging reduction of emissions and operational costs of small: about 20% CO₂ reduction, about 24% NO_x reduction, about 10 db (A) noise reduction at measurement point and about 25% DOC reduction. Detailed description of the performed studies, analyses and validations for each technology as well as the expected benefit at aircraft level are reported in the present paper.

Keywords: Affordable, European, green, mobility, technologies development, travel time reduction.

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Authors: Levan Sabauri

Abstract:

In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: Efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital.

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Authors: Chiung-ying Lee, Chia-hua Chang

Abstract:

In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.

Keywords: Financial reference database, Financial early warning model, Logistic Regression.

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Authors: A. R. Binesh, S. Hossainpour

Abstract:

Due to the stringent legislation for emission of diesel engines and also increasing demand on fuel consumption, the importance of detailed 3D simulation of fuel injection, mixing and combustion have been increased in the recent years. In the present work, FIRE code has been used to study the detailed modeling of spray and mixture formation in a Caterpillar heavy-duty diesel engine. The paper provides an overview of the submodels implemented, which account for liquid spray atomization, droplet secondary break-up, droplet collision, impingement, turbulent dispersion and evaporation. The simulation was performed from intake valve closing (IVC) to exhaust valve opening (EVO). The predicted in-cylinder pressure is validated by comparing with existing experimental data. A good agreement between the predicted and experimental values ensures the accuracy of the numerical predictions collected with the present work. Predictions of engine emissions were also performed and a good quantitative agreement between measured and predicted NOx and soot emission data were obtained with the use of the present Zeldowich mechanism and Hiroyasu model. In addition, the results reported in this paper illustrate that the numerical simulation can be one of the most powerful and beneficial tools for the internal combustion engine design, optimization and performance analysis.

Keywords: Diesel engine, Combustion, Pollution, CFD.

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Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

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This study is investigating the impact of ideological structures in terms of conservative and liberal on shaping immigration acceptance attitudes under the contribution of socio-economic status. According to motivated reasoning theory, political ideology is identified as a recurrent impact on the formation of attitude, while conservatives tend to express more hostility toward immigrants in comparison to liberals which are proposed to be more tolerant towards immigrants. Our finding suggests that political ideology will structure individual attitudes when citizens socio-economic vulnerability and level of education are low enough to consider immigrants as a threat. Therefore, economic vulnerability is proposed to weaken the ideological predispositions’ resistance. There has been some threats and factors such as level of education and economic condition proposed by group competition theory and labor market competition theory as fundamental factors which can strengthen or weaken the effects of political ideology on individuals’ attitudes towards immigration; those mechanisms for liberals and conservatives will be operated differently.

Keywords: Conservative, immigration, liberal, political ideology.

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Authors: Rajkishore Nayak, Tarun Panwar, Majo George, Irfan Ulhaq, Soumik Parida

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Factors related to the growth of fashion and textile manufacturing in the Sub-Saharan African (SSA) countries are analyzed in this paper. Important factors associated with the growth of fashion and textile manufacturing in the SSA countries are being identified, underlined, and evaluated in this study. This research performed a SWOT analysis of the garment industries in the SSA region by exploring into various literature in the garment manufacturing and export data. SSA countries need to grow a lot in the fashion and textile manufacturing and export to come in par with the developments in the sector globally. Unlike the developing countries such as Vietnam and Bangladesh, the total export to the US, the EU and other parts of the world has declined. On the other hand, the total supply of fashion and textiles to the domestic market has been in rise. However, the local communities still need to rely on other countries to meet their demand. Import of cheaper clothes from countries like Bangladesh China and Vietnam is one of the main challenges local manufacturers are facing as it is very difficult to be competitive in pricing.

Keywords: Sub-Saharan Africa, apparel industry, sustainable fashion, developing countries, fashion, textiles.

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Authors: Raziah Bi Mohamed Sadique, Jamal Roudaki, Murray B. Clark, Norhayati Alias

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Economic crime (i.e. corporate fraud) has a significant impact on business. This study analyzes the fraud cases reported by the Malaysian Securities Commission. Frauds involving market manipulation and/or illegal share trading are the most common types of fraud reported over the 6 years analyzed. The highest number of frauds reported involved investment and fund holding companies. Alarmingly the results indicate quite a high number of frauds cases are committed by management. The higher number of Chinese perpetrators may be due to fact that they are the dominant group in Malaysian business. The result also shows that more than half of companies involved with fraud are privately held companies in the investment/fund/finance sector. The results of this study highlight general characteristic of perpetrators (person and company) that commit fraud which could help the regulators in their monitoring and enforcement activities. To investors, this would help in analyzing their business investment or portfolio risk.

Keywords: Corporate fraud, economic crime, fraudcharacteristic, perpetrators

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Authors: Muniyasamy Kalanchiam, Moorthy Chinnasamy

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In the competitive environment of aircraft industries it becomes absolutely necessary to improve the efficiency, performance of the aircrafts to reduce the development and operating costs considerably, in order to capitalize the market. An important contribution to improve the efficiency and performance can be achieved by decreasing the aircraft weight through considerable usage of composite materials in primary aircraft structures. In this study, a type of composite material called Carbon Fiber Reinforced Plastic (CFRP) is explored for the usage is aircraft skin panels. Even though there were plenty of studies and research has been already carried out, here a practical example of an aircraft skin panel is taken and substantiated the benefits of composites material usage over the metallic skin panel. A crown skin panel of a commercial aircraft is designed using both metal and composite materials. Stress analysis has been carried out for both and margin of safety is estimated for the critical load cases. The skin panels are compared for manufacturing, tooling, assembly and cost parameters. Detail step by step comparison between metal and composite constructions are studied and results are tabulated for better understanding.

Keywords: Composites, CFRP, Aircraft Structure, Skin panel.

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Authors: Chandra Gupt Porwal

Abstract:

Excessive vibration means increased wear, increased repair efforts, bad product selection & quality and high energy consumption. This may be sometimes experienced by cavitation or suction/discharge recirculation which could occur only when net positive suction head available NPSHA drops below the net positive suction head required NPSHR. Cavitation can cause axial surging, if it is excessive, will damage mechanical seals, bearings, possibly other pump components frequently, and shorten the life of the impeller. Efforts have been made to explain Suction Energy (SE), Specific Speed (Ns), Suction Specific Speed (Nss), NPSHA, NPSHR & their significance, possible reasons of cavitation /internal recirculation, its diagnostics and remedial measures to arrest and prevent cavitation in this paper. A case study is presented by the author highlighting that the root cause of unwanted noise and vibration is due to cavitation, caused by high specific speeds or inadequate net- positive suction head available which results in damages to material surfaces of impeller & suction bells and degradation of machine performance, its capacity and efficiency too. Author strongly recommends revisiting the technical specifications of CW pumps to provide sufficient NPSH margin ratios >1.5, for future projects and Nss be limited to 8500 - 9000 for cavitation free operation.

Keywords: Best efficiency point (BEP), Net positive suction head NPSHA, NPSHR, Specific Speed NS, Suction Specific Speed Nss.

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Authors: W. Swiderski

Abstract:

In the paper introduced the diagnostic technique making possible the research of internal structures in composite materials reinforced fibres using in different applications. The main reason of damages in structures of these materials is the changing distribution of load in constructions in the lifetime. Appearing defect is largely complicated because of the appearance of disturbing of continuity of reinforced fibres, binder cracks and loss of fibres adhesiveness from binders. Defect in composite materials is usually more complicated than in metals. At present, infrared thermography is the most effective method in non-destructive testing composite. One of IR thermography methods used in non-destructive evaluation is vibrothermography. The vibrothermography is not a new non-destructive method, but the new solution in this test is use ultrasonic waves to thermal stimulation of materials. In this paper, both modelling and experimental results which illustrate the advantages and limitations of ultrasonic IR thermography in inspecting composite materials will be presented. The ThermoSon computer program for computing 3D dynamic temperature distribuions in anisotropic layered solids with subsurface defects subject to ulrasonic stimulation was used to optimise heating parameters in the detection of subsurface defects in composite materials. The program allows for the analysis of transient heat conduction and ultrasonic wave propagation phenomena in solids. The experiments at MIAT were fulfilled by means of FLIR SC 7600 IR camera. Ultrasonic stimulation was performed with the frequency from 15 kHz to 30 kHz with maximum power up to 2 kW.

Keywords: Composite material, ultrasonic, infrared thermography, non-destructive testing.

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Authors: Guanhao Tong, Li Li, Ben David

Abstract:

This study aims to provide an explanatory account of how the leisure tourist experience emerges from tourists and their surroundings through a critical realist lens. This was achieved by applying Archer’s realist social theory as the underlying theoretical ground to unpack the interplays between the external (tourism system or structure) and the internal (tourists or agency) factors. This theory argues that social phenomena can be analysed in three domains - structure, agency, and culture (SAC), and along three phases – structure conditioning, sociocultural interactions, and structure elaboration. From the realist perspective, the world is an open system; events and discourses are irreducible to present individuals and collectivities. Therefore, identifying the processes or mechanisms is key to help researchers understand how social reality is brought about. Based on the contextual nature of the tourist experience, the research focuses on Chinese tourists (from mainland China) to London as a destination and British culture conveyed through the concept of the destination image. This study uses an intensive approach based on Archer’s M/M approach to discover the mechanisms/processes of the emergence of the tourist experience. Individual interviews were conducted to reveal the underlying causes of lived experiences of the tourists. Secondary data were also collected to understand how British destinations are portrayed to Chinese tourists.

Keywords: Chinese Tourists, Destination Image, M/M Approach, Realist Social Theory, social mechanisms, tourist experience.

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Authors: Jiaqi Yan, Sherry Sun, Huaiqing Wang, Zhongsheng Hua

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In the highly competitive and rapidly changing global marketplace, independent organizations and enterprises often come together and form a temporary alignment of virtual enterprise in a supply chain to better provide products or service. As firms adopt the systems approach implicit in supply chain management, they must manage the quality from both internal process control and external control of supplier quality and customer requirements. How to incorporate quality management of upstream and downstream supply chain partners into their own quality management system has recently received a great deal of attention from both academic and practice. This paper investigate the collaborative feature and the entities- relationship in a supply chain, and presents an ontology of collaborative supply chain from an approach of aligning service-oriented framework with service-dominant logic. This perspective facilitates the segregation of material flow management from manufacturing capability management, which provides a foundation for the coordination and integration of the business process to measure, analyze, and continually improve the quality of products, services, and process. Further, this approach characterizes the different interests of supply chain partners, providing an innovative approach to analyze the collaborative features of supply chain. Furthermore, this ontology is the foundation to develop quality management system which internalizes the quality management in upstream and downstream supply chain partners and manages the quality in supply chain systematically.

Keywords: Ontology, supply chain quality management, service-oriented architecture, service-dominant logic.

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Authors: Ashkan Mirzay Fashami

Abstract:

This study examines the effects of auditor switch, auditee’s industry, and auditee’s location on audit fees in Australia. It uses fee data of Australian Securities Exchange 500 companies, considering all industry classifications throughout the country from 2006 until 2016. Main findings show that auditor switch does not affect audit fees. However, auditee’s industry affects audit fees. This effect occurs in information technology, financials, energy, and materials sectors among the top 500 companies. Financials, energy, and materials sectors face a fee rise, whereas information technology has a fee cut. The extent of fee changes is different among various industries, wherein the financial sector has the highest increase. Further, auditee’s location affects audit fees. Top 500 companies in Hobart, Perth, and Brisbane face a fee reduction, wherein the highest cut is in Hobart. Further analysis suggests that the Australian audit market is being increasingly concentrated in the hands of the Big Four audit firms.

Keywords: Audit fee, auditor switch, Australia, industry, location.

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Authors: Aïssa Rezzoug

Abstract:

This paper is aimed to bring new elements that demonstrate the tide caused the groundwater to rise in the shoreline band, on which the urban areas occurs, especially in the western coastal cities of the Kingdom of Saudi Arabia like Jeddah. The reason for the last events of Jeddah inundation was the groundwater rise in the city coupled at the same time to a strong precipitation event. This paper will illustrate the tide participation in increasing the groundwater level significantly. It shows that the reason for internal groundwater recharge within the urban area is not only the excess of the water supply coming from surrounding areas, due to the human activity, with lack of sufficient and efficient sewage system, but also due to tide effect. The research study follows a quantitative method to assess groundwater level rise risks through many in-situ measurements and mathematical modelling. The proposed approach highlights groundwater level, in the urban areas of the city on the shoreline band, reaching the high tide level without considering any input from precipitation. Despite the small tide in the Red Sea compared to other oceanic coasts, the groundwater level is considerably enhanced by the tide from the seaside and by the freshwater table from the landside of the city. In these conditions, the groundwater level becomes high in the city and prevents the soil to evacuate quickly enough the surface flow caused by the storm event, as it was observed in the last historical flood catastrophe of Jeddah in 2009.

Keywords: Flood, groundwater rise, Jeddah, tide.

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Authors: Yi-Hsiang Pan

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The purpose of this study was to develop a “teachers’ self-efficacy scale for high school physical education teachers (TSES-HSPET)” in Taiwan. This scale is based on the self-efficacy theory of Bandura [1], [2]. This study used exploratory and confirmatory factor analyses to test the reliability and validity. The participants were high school physical education teachers in Taiwan. Both stratified random sampling and cluster sampling were used to sample participants for the study. 350 teachers were sampled in the first stage and 234 valid scales (male 133, female 101) returned. During the second stage, 350 teachers were sampled and 257 valid scales (male 143, female 110, 4 did not indicate gender) returned. The exploratory factor analysis was used in the first stage, and it got 60.77% of total variance for construct validity. The Cronbach’s alpha coefficient of internal consistency was 0.91 for sumscale, and subscales were 0.84 and 0.90. In the second stage, confirmatory factor analysis was used to test construct validity. The result showed that the fit index could be accepted (χ2 (75) =167.94, p <.05, RMSEA =0.07, SRMR=0.05, GFI=0.92, NNFI=0.97, CFI=0.98, PNFI=0.79). Average variance extracted of latent variables were 0.43 and 0.53, which composite reliability are 0.78 and 0.90. It is concluded that the TSES-HSPET is a well-considered measurement instrument with acceptable validity and reliability. It may be used to estimate teachers’ self-efficacy for high school physical education teachers.

Keywords: teaching in physical education, teacher's self-efficacy, teacher's belief

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Authors: Dutescu Adriana, Amariei Corneliu, Sahlian Daniela, Stanila Aurelian, Stanila Oana

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20 years of dentistry was a period of transition from communist to market economy but Romanian doctors have insufficient management knowledge. Recently, the need for modern management has increased due to technologies and superior materials appearance, as patient-s demands. Research goal is to increase efficiency by evaluating dental medical office cost categories in real pricing procedures. Empirical research is based on guided study that includes information about the association between categories of cost perception and therapeutic procedures commonly used in dental offices. Due to the obtained results to identify all the labours that make up a settled procedure costs were determined for each procedure. Financial evaluation software was created with the main functions: introducing and maintaining patient records, treatment and appointments made, procedures cost and monitoring office productivity. We believe that the study results can significantly improve the financial management of dental offices, increasing the effectiveness and quality of services.

Keywords: costs, financial methods, management.

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Authors: Nurul Zahirah M.A., N. Zainul Abidin, Azlan Raofuddin Nuruddin

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Despite all the hype about green building, many developers are still resistant to the idea of building green due to the common perception that green building construction is expensive. This contradicts with scholarly findings that identify only a marginal cost premium or none at all given that green design is considered during the design process and planning stage. Nevertheless, cost implications continue to become an issue when deciding to build green. The planning stage is of strategic importance as decisions made at this early stage would influence the project cost thereafter. Using analysis of existing literature, the paper identifies six elements of soft cost that are considered in the planning stage. The elements include consultants, green building consultant, certification, commissioning, market, and tax. Out of the six elements, commissioning represents the bulk of soft cost for buildings seeking green certification. The study concluded that, although hard cost may have a bigger impact on the project cost, but soft cost is the hidden cost which people tend to ignore. Poor consideration of soft cost during planning stage may lead to over-realistic expectations and ultimately, overlooked cost additions.

Keywords: Green building, cost element, soft cost, developer decision.

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Authors: Ayman Abd-Elhamed, Sayed Mahmoud

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The present research work investigates the seismic response of reinforced concrete (RC) frame building considering the effect of modeling masonry infill (MI) walls. The seismic behavior of a residential 6-storey RC frame building, considering and ignoring the effect of masonry, is numerically investigated using response spectrum (RS) analysis. The considered herein building is designed as a moment resisting frame (MRF) system following the Egyptian code (EC) requirements. Two developed models in terms of bare frame and infill walls frame are used in the study. Equivalent diagonal strut methodology is used to represent the behavior of infill walls, whilst the well-known software package ETABS is used for implementing all frame models and performing the analysis. The results of the numerical simulations such as base shear, displacements, and internal forces for the bare frame as well as the infill wall frame are presented in a comparative way. The results of the study indicate that the interaction between infill walls and frames significantly change the responses of buildings during earthquakes compared to the results of bare frame building model. Specifically, the seismic analysis of RC bare frame structure leads to underestimation of base shear and consequently damage or even collapse of buildings may occur under strong shakings. On the other hand, considering infill walls significantly decrease the peak floor displacements and drifts in both X and Y-directions.

Keywords: Masonry infill, bare frame, response spectrum, seismic response.

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Authors: Ali Fadhil Naser, Wang Zonglin

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The main objectives of this study are to inspect and identify any damage of jaimusi highway prestressed concrete bridge after repair and strengthening of damaged structural members and to evaluate the performance of the bridge structural members by adopting static load test. Inspection program after repair and strengthening includes identifying and evaluating the structural members of bridge such as T-shape cantilever structure, hanging beams, corbels, external tendons, anchor beams, sticking steel plate, and piers. The results of inspection show that the overall state of the bridge structural member after repair and strengthening is good. The results of rebound test of concrete strength show that the average strength of concrete is 46.31Mpa. Whereas, the average value of concrete strength of anchor beam is 49.82Mpa. According to the results of static load test, the experimental values are less than theoretical values of internal forces, deflection, and strain, indicating that the stiffness of the experimental structure, overall deformation and integrity satisfy the designed standard and the working performance is good, and the undertaking capacity has a certain surplus. There is not visible change in the length and width of cracks and there are not new cracks under experimental load.

Keywords: Jiamusi Bridge, Damage inspection, deflection, strain.

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Authors: Yamini Raju, Parminder S. Kang, Adam Moroz, Ross Clement, Ashley Hopwell, Alistair Duffy

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Accurate forecasting of fresh produce demand is one the challenges faced by Small Medium Enterprise (SME) wholesalers. This paper is an attempt to understand the cause for the high level of variability such as weather, holidays etc., in demand of SME wholesalers. Therefore, understanding the significance of unidentified factors may improve the forecasting accuracy. This paper presents the current literature on the factors used to predict demand and the existing forecasting techniques of short shelf life products. It then investigates a variety of internal and external possible factors, some of which is not used by other researchers in the demand prediction process. The results presented in this paper are further analysed using a number of techniques to minimize noise in the data. For the analysis past sales data (January 2009 to May 2014) from a UK based SME wholesaler is used and the results presented are limited to product ‘Milk’ focused on café’s in derby. The correlation analysis is done to check the dependencies of variability factor on the actual demand. Further PCA analysis is done to understand the significance of factors identified using correlation. The PCA results suggest that the cloud cover, weather summary and temperature are the most significant factors that can be used in forecasting the demand. The correlation of the above three factors increased relative to monthly and becomes more stable compared to the weekly and daily demand.

Keywords: Demand Forecasting, Deteriorating Products, Food Wholesalers, Principal Component Analysis and Variability Factors.

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Authors: Peter Benneth, Tsaroh N. Theophilus, Prince Benjamin

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This research work aims at studying the application of Legendre Transformation Method (LTM) to Hamilton Jacobi Bellman (HJB) equation which is an example of optimal control problem. We discuss the steps involved in modelling the HJB equation as it relates to mathematical finance by applying the Ito’s lemma and maximum principle theorem. By applying the LTM and dual theory, the resultant HJB equation is transformed to a linear Partial Differential Equation (PDE). Also, the Optimal Investment Strategy (OIS) and the optimal value function were obtained under the exponential utility function. Furthermore, some numerical results were also presented with observations that the OIS under exponential utility is directly proportional to the appreciation rate of the risky asset and inversely proportional to the instantaneous volatility, predetermined interest rate, risk averse coefficient. Finally, it was observed that the optimal fund size is an increasing function of the risk free interest rate. This result is consistent with some existing results.

Keywords: Legendre transformation method, Optimal investment strategy, Ito’s lemma, Hamilton Jacobi Bellman equation, Geometric Brownian motion, financial market.

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Authors: Jayant Sakhardande, Pratik Pattanayak, Mita Bhowmick

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An efficient reintegration of the disabled people in the family and society should be fulfilled; hence it is strongly needful to assist their diminished functions or to replace the totally lost functions. Assistive technology helps in neutralizing the impairment. Recent advancements in embedded systems have opened up a vast area of research and development for affordable and portable assistive devices for the visually impaired. Granted there are many assistive devices on the market that are able to detect obstacles, and numerous research and development currently in process to alleviate the cause, unfortunately the cost of devices, size of devices, intrusiveness and higher learning curve prevents the visually impaired from taking advantage of available devices. This project aims at the design and implementation of a detachable unit which is robust, low cost and user friendly, thus, trying to aggrandize the functionality of the existing white cane, to concede above-knee obstacle detection. The designed obstruction detector uses ultrasound sensors for detecting the obstructions before direct contact. It bestows haptic feedback to the user in accordance with the position of the obstacle.

Keywords: Visually impaired, Ultrasonic sensors, Obstruction detector, Mobility aid

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Authors: Layla Albdr

Abstract:

Saudi Arabia instituted the policy of sensitizing and training stakeholders for e-learning and witnessed wide adoption in many institutions. However, it is at the infancy stage and needs time to develop to mirror the US and UK. The majority of the higher education institutions in Saudi Arabia have adopted e-learning as an alternative to traditional methods to advance education. Conversely, effective implementation of the policy of sensitization and training of stakeholders for e-learning implementation has not been attained because of various challenges. The objectives included determining the challenges and opportunities of the e-learning policy of sensitization and training of stakeholders in Saudi Arabia's higher education and examining if sensitization and training of stakeholder's policy will help promote the implementation of e-learning in institutions. The study employed a descriptive research design based on qualitative analysis. The researcher recruited 295 students and 60 academic staff from four Saudi Arabian universities to participate in the study. An online questionnaire was used to collect the data. The data were then analyzed and reported both quantitatively and qualitatively. The analysis provided an in-depth understanding of the opportunities and challenges of e-learning policy in Saudi Arabian universities. The main challenges identified as internal challenges were the lack of educators’ interest in adopting the policy, and external challenges entailed lack of ICT infrastructure and Internet connectivity. The study recommends encouraging, sensitizing, and training all stakeholders to address these challenges and adopt the policy.

Keywords: e-learning, educational policy, Saudi Arabian higher education, policy of sensitization and training

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Authors: S.Shanmugam, V.G. Srisanthi, S.Ramachandran

Abstract:

Reinforced concrete has good durability and excellent structural performance. But there are cases of early deterioration due to a number of factors, one prominent factor being corrosion of steel reinforcement. The process of corrosion sets in due to ingress of moisture, oxygen and other ingredients into the body of concrete, which is unsound, permeable and absorbent. Cracks due to structural and other causes such as creep, shrinkage, etc also allow ingress of moisture and other harmful ingredients and thus accelerate the rate of corrosion. There are several interactive factors both external and internal, which lead to corrosion of reinforcement and ultimately failure of structures. Suitable addition of mineral admixture like silica fume (SF) in concrete improves the strength and durability of concrete due to considerable improvement in the microstructure of concrete composites, especially at the transition zone. Secondary reinforcement in the form of fibre is added to concrete, which provides three dimensional random reinforcement in the entire mass of concrete. Reinforced concrete beams of size 0.1 m X 0.15 m and length 1m have been cast using M 35 grade of concrete. The beams after curing process were subjected to corrosion process by impressing an external Direct Current (Galvanostatic Method) for a period of 15 days under stressed and unstressed conditions. The corroded beams were tested by applying two point loads to determine the ultimate load carrying capacity and cracking pattern and the results of specimens were compared with that of the companion specimens. Gravimetric method is used to quantify corrosion that has occurred.

Keywords: Carbonation, Corrosion, Cracking, Spalling.

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Authors: Fauziah Hanim Tafri, Zarinah Hamid, Ahamed Kameel Mydin Meera, Mohd Azmi Omar

Abstract:

This paper examines the relationship between financial risks and profitability of the conventional and Islamic banks in Malaysia for the period between 1996 and 2005. The measures of profitability that have been used in the study are the return on equity (ROE) and return on assets (ROA) while the financial risks are credit risk, interest rate risk and liquidity risks. This study employs panel data regression analysis of Generalised Least Squares of fixed effects and random effects models. It was found that credit risk has a significant impact on ROA and ROE for the conventional as well as the Islamic banks. The relationship between interest rate risk and ROE were found to be weakly significant for the conventional banks and insignificant for the Islamic banks. The effect of interest rate risk on ROA is significant for the conventional banks. Liquidity risk was found to have an insignificant impact on both profitability measures.

Keywords: Credit risk, interest rate risk, liquidity risk, market risk, profitability.

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Authors: Yousef S. Al-Othman

Abstract:

The growth and expansion of the industrial facilities comes proportional to the market increasing demand of products and services. Furthermore, raw material producers such as oil companies usually undergo massive revamping projects to maintain a synchronized supply. These revamping projects are usually delivered through challenging construction projects held and associated with daily site risks related to the construction process. Henceforth, a case study related to these risks and corresponding on-spot corrective measurements has been made on a certain number of construction project contractors at Kuwait Oil Company (KOC) to derive the benefits and overall effectiveness of the on-spot corrective measurements during the construction phase of a project, and how would the same help in avoiding major incidents, ensuring a smooth, cost effective and on time delivery of the project. Findings of this case study shall have an added value to the overall risk management process by minimizing the daily site risks that may affect the project lead time, resulting in an undisturbed on-site construction process.

Keywords: Oil and gas, risk management, construction projects, project lead time.

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Authors: Muhammad Naveed, Yang Caixia

Abstract:

The need for national space legislation is pivotal, particularly in light of the fact that in recent years space activities have grown immensely both in volume and diversity. Countries are progressively developing capabilities in space exploration and scientific discoveries, market their capabilities to manufacture satellites, provide launch services from their facilities and are looking to privatize and commercialize their space resources. Today, nations are also seeking to comprehend the technological and financial potential of the private sector and are considering to share their financial burdens with them and to limit their exposures to risks, but they are lagging behind in legal framework in this regard. In the perspective of these emerging developments, it is therefore, felt that national space legislation should be enacted with the goal of building and implementing a vibrant and transparent legal framework at the national level to hasten investments and to ensure growth in this capital intensive - highly yield strategic sector. This study looks at (I) the international legal framework that governs space activities; (II) motivation behind making national space laws; and (III) the need for national space legislation. The paper concludes with some recommendations with regards to the conceivable future direction for national space legislation, in particular space empowered sub-areas for countries.

Keywords: International conventions, national legislation, space faring nation, space law.

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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: Abu Bakar Sedek Abdul Jamak, Rohani Salleh, Subarna Sivapalan, Azrai Abdullah

Abstract:

This research focuses on micro-enterprise of Malaysian Malays that are involved in very small-scaled business activities. Among them include food stall and burger stall operators, night market hawkers, grocery store operators as well as construction and small service activities works. The study seeks to explore why some micro-entrepreneurs still lag in entrepreneurship and what needs to be rectified. This quantitative study is conducted on 173 Malay micro-enterprise owners (MEOs) and 58 Malay failed microenterprise owners (FMEOs) involved in all range of businesses throughout the state of Perak, Malaysia. The main aims are to identify the gaps between the failed micro-enterprise owners (FMEOs) and existing micro-enterprise owners (MEOs) and the problems faced among FMEOs. The results reveal that the MEOs had strong motivations and better marketing approaches as compared to FMEOs. Furthermore, the FMEOs failed in the business ventures mainly due to lack of management, sales and marketing skills and poor competitive abilities to keep up with rivals.

Keywords: Micro-enterprises, Malays, entrepreneurship, Malaysia

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