Search results for: carbon stock
942 Improving Order Quantity Model with Emergency Safety Stock (ESS)
Authors: Yousef Abu Nahleh, Alhasan Hakami, Arun Kumar, Fugen Daver
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This study considers the problem of calculating safety stocks in disaster situations inventory systems that face demand uncertainties. Safety stocks are essential to make the supply chain, which is controlled by forecasts of customer needs, in response to demand uncertainties and to reach predefined goal service levels. To solve the problem of uncertainties due to the disaster situations affecting the industry sector, the concept of Emergency Safety Stock (ESS) was proposed. While there exists a huge body of literature on determining safety stock levels, this literature does not address the problem arising due to the disaster and dealing with the situations. In this paper, the problem of improving the Order Quantity Model to deal with uncertainty of demand due to disasters is managed by incorporating a new idea called ESS which is based on the probability of disaster occurrence and uses probability matrix calculated from the historical data.
Keywords: Emergency Safety Stocks, Safety stocks, Order Quantity Model, Supply chain.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2869941 The Study of Fabricating the Field Emission Lamps with Carbon nano-Materials
Authors: K. J. Chung, C.C.Chiang, Y.M. Liu, N. W. Pu, M. D. Ger
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Fabrication and efficiency enhancement of non-mercury, high efficiency and green field emission lamps using carbon nano-materials such as carbon nanotubes as cathode field emitters was studied. Phosphor was coated on the ITO glass or metal substrates as the anode. The luminescence efficiency enhancement was carried out by upgrading the uniform of the emitters, improving electron and thermal conductivity of the phosphor and the optimization of the design of different cathode/anode configurations. After evaluation of the aforementioned parameters, the luminescence efficiency of the field emission lamps was raised.
Keywords: Field emission lamps, carbon nano-materials, luminescence efficiency
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1911940 Regulatory Effects of Carbon Sources on Tabtoxin Production (A β-lactam Phytotoxin of Pseudomonas syringae pv. tabaci)
Authors: N. Messaadia, D. Harzallah
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The effects of divers carbon substrates were investigated for the tabtoxin production of an isolated pathogenic Pseudomonas syringae pv. tabaci, the causal agent of wildfire of tobacco and are discussed in relation to the bacterium growth. The isolated organism was grown in batch culture on Woolley's medium (28°C, 200 rpm, during 5 days). The growth has been measured by the optical density (OD) at 620 nm and the tabtoxin production quantified by Escherichia coli (K-12) bioassay technique. The growth and the tabtoxin production were both influenced by the substrates (sugars, amino acids, organic acids) used, each, as a sole carbon source and as a supplement for the same amino acids. The most significant quantities of tabtoxin were obtained in presence of some amino acids used as sole carbon source and/or as supplement.Keywords: Amino acid supplement, carbon substrates, batch culture, Pseudomonas syringae pv. tabaci.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3575939 Camel Thorn Has Hepatoprotective Activity against Carbon Tetrachloride or Acetaminophen Induced Hepatotoxicity, but Enhances the Cardiac Toxicity of Adriamycin in Rodents
Authors: A. G. Abdellatif, H. M.Gargoum, A. A. Debani, M. Bengleil, S. Alshalmani, N. El Zuki, O. El Fitouri
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In this study the administration of 660 mg/kg of the ethanolic extract of the Alhagigraecorum (Camel Thorn)to mice, showed a significant decrease in the level of transaminases in animals treated with a combination of CTE plus carbon tetrachloride (CCl4) or acetaminophen as compared to animals receiving CCl4 or acetaminophen alone. Histopatological investigation also confirmed that, camel thorn extract protects liver against damage-induced either by carbon tetrachloride or acetaminophen. On the other hand the cardiac toxicity produced by adriamycine was significantly increased in the presence of the ethanolic extract of camel thorn. Our study suggested that camel thorn can protect the liver against the injury produced by carbon tetrachloride or acetaminophen, with unexpected increase in the cardiac toxicity –induced by adriamycin in rodents.
Keywords: Acetaminophen, Adriamycin, Alhagi graecorum, Carbon tetrachloride.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1884938 Exploring Tree Growth Variables Influencing Carbon Sequestration in the Face of Climate Change
Authors: F. S. Eguakun, P. O. Adesoye
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One of the major problems being faced by human society is that the global temperature is believed to be rising due to human activity that releases carbon IV Oxide (CO2) to the atmosphere. Carbon IV Oxide is the most important greenhouse gas influencing global warming and possible climate change. With climate change becoming alarming, reducing CO2 in our atmosphere has become a primary goal of international efforts. Forest lands are major sink and could absorb large quantities of carbon if the trees are judiciously managed. The study aims at estimating the carbon sequestration capacity of Pinus caribaea (pine) and Tectona grandis (Teak) under the prevailing environmental conditions and exploring tree growth variables that influences the carbon sequestration capacity in Omo Forest Reserve, Ogun State, Nigeria. Improving forest management by manipulating growth characteristics that influences carbon sequestration could be an adaptive strategy of forestry to climate change. Random sampling was used to select Temporary Sample Plots (TSPs) in the study area from where complete enumeration of growth variables was carried out within the plots. The data collected were subjected to descriptive and correlational analyses. The results showed that average carbon stored by Pine and Teak are 994.4±188.3 Kg and 1350.7±180.6 Kg respectively. The difference in carbon stored in the species is significant enough to consider choice of species relevant in climate change adaptation strategy. Tree growth variables influence the capacity of the tree to sequester carbon. Height, diameter, volume, wood density and age are positively correlated to carbon sequestration. These tree growth variables could be manipulated by the forest manager as an adaptive strategy for climate change while plantations of high wood density species could be relevant for management strategy to increase carbon storage.
Keywords: Adaptation, carbon sequestration, climate change, growth variables, wood density.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2315937 Mobile Communications Client Server System for Stock Exchange e-Services Access
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Using mobile Internet access technologies and eservices, various economic agents can efficiently offer their products or services to a large number of clients. With the support of mobile communications networks, the clients can have access to e-services, anywhere and anytime. This is a base to establish a convergence of technological and financial interests of mobile operators, software developers, mobile terminals producers and e-content providers. In this paper, a client server system is presented, using 3G, EDGE, mobile terminals, for Stock Exchange e-services access.Keywords: Mobile communications, e-services access, stockexchange.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2061936 Forming of Nanodimentional Structure Parts in Carbon Steels
Authors: A. Korchunov, M. Chukin, N. Koptseva, M. Polyakova, A. Gulin
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A way of achieving nanodimentional structural elements in high carbon steel by special kind of heat treatment and cold plastic deformation is being explored. This leads to increasing interlamellar spacing of ferrite-carbide mixture. Decreasing the interlamellar spacing with cooling temperature increasing is determined. Experiments confirm such interlamellar spacing with which high carbon steel demonstrates the highest treatment and hardening capability. Total deformation degree effect on interlamellar spacing value in a ferrite-carbide mixture is obtained. Mechanical experiments results show that high carbon steel after heat treatment and repetitive cold plastic deformation possesses high tensile strength and yield strength keeping good percentage elongation.
Keywords: High-carbon steel, nanodimensional structural element, interlamellar spacing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1340935 Exploring the Effect of Accounting Information on Systematic Risk: An Empirical Evidence of Tehran Stock Exchange
Authors: Mojtaba Rezaei, Elham Heydari
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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.
Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 691934 Impact of Regulation on Trading in Financial Derivatives in Europe
Authors: H. Florianová, J. Nešleha
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Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.
Keywords: Capital markets, financial derivatives, investors' behavior, regulation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 917933 Enthalpies of Dissociation of Pure Methane and Carbon Dioxide Gas Hydrate
Authors: Qazi Nasir, K. K. Lau, Bhajan Lal
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In this study the enthalpies of dissociation for pure methane and pure carbon dioxide was calculated using a hydrate equilibrium data obtained in this study. The enthalpy of dissociation was determined using Clausius-Clapeyron equation. The results were compared with the values reported in literature obtained using various techniques.
Keywords: Enthalpies of dissociation, methane, carbon dioxide, gas hydrate, natural gas.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2945932 Challenge of Net-Zero Carbon Construction and Measurement of Energy Consumption and Carbon Emission Reduction to Climate Change, Economy and Job Growths in Hong Kong and Australia
Authors: Kwok Tak Kit
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Under the Paris Agreement 2015, the countries committed to address and combat the climate change and its negative impacts and agree to the target of reducing the global greenhouse gas (GHG) emission substantially by limiting the global temperature to 2 0C above the pre-industrial level in this century. An international submit named “26th United Nations Climate Conference” (COP26) was held in Glasgow in 2021 with all committed countries agreed to finalize the outstanding element in Paris Agreement and Glasgow Climate Pact to keep 1.5 0C. In this paper, we will focus on the basic approach of waste strategy, recycling policy, circular economy strategy, net-zero strategy and sustainability strategy and the importance of the elements which affect the carbon emission, waste generation and energy conservation will be further reviewed with recommendation for future study.
Keywords: Net-zero carbon, climate change, carbon emission, energy consumption.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 709931 Gas Pressure Evaluation through Radial Velocity Measurement of Fluid Flow Modeled by Drift Flux Model
Authors: Aicha Rima Cheniti, Hatem Besbes, Joseph Haggege, Christophe Sintes
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In this paper, we consider a drift flux mixture model of the blood flow. The mixture consists of gas phase which is carbon dioxide and liquid phase which is an aqueous carbon dioxide solution. This model was used to determine the distributions of the mixture velocity, the mixture pressure, and the carbon dioxide pressure. These theoretical data are used to determine a measurement method of mean gas pressure through the determination of radial velocity distribution. This method can be applicable in experimental domain.
Keywords: Mean carbon dioxide pressure, mean mixture pressure, mixture velocity, radial velocity.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1248930 Fuzzy EOQ Models for Deteriorating Items with Stock Dependent Demand and Non-Linear Holding Costs
Authors: G. C. Mahata, A. Goswami
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This paper deals with infinite time horizon fuzzy Economic Order Quantity (EOQ) models for deteriorating items with stock dependent demand rate and nonlinear holding costs by taking deterioration rate θ0 as a triangular fuzzy number (θ0 −δ 1, θ0, θ0 +δ 2), where 1 2 0 0 <δ ,δ <θ are fixed real numbers. The traditional parameters such as unit cost and ordering cost have been kept constant but holding cost is considered to vary. Two possibilities of variations in the holding cost function namely, a non-linear function of the length of time for which the item is held in stock and a non-linear function of the amount of on-hand inventory have been used in the models. The approximate optimal solution for the fuzzy cost functions in both these cases have been obtained and the effect of non-linearity in holding costs is studied with the help of a numerical example.
Keywords: Inventory Model, Deterioration, Holding Cost, Fuzzy Total Cost, Extension Principle.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1814929 Underpricing of IPOs during Hot and Cold Market Periods on the South African Stock Exchange (JSE)
Authors: Brownhilder N. Neneh, A. Van Aardt Smit
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Underpricing is one anomaly in initial public offerings (IPO) literature that has been widely observed across different stock markets with different trends emerging over different time periods. This study seeks to determine how IPOs on the JSE performed on the first day, first week and first month over the period of 1996-2011. Underpricing trends are documented for both hot and cold market periods in terms of four main sectors (cyclical, defensive, growth stock and interest rate sensitive stocks). Using a sample of 360 listed companies on the JSE, the empirical findings established that IPOs on the JSE are significantly underpriced with an average market adjusted first day return of 62.9%. It is also established that hot market IPOs on the JSE are more underpriced than the cold market IPOs. Also observed is the fact that as the offer price per share increases above the median price for any given period, the level of underpricing decreases substantially. While significant differences exist in the level of underpricing of IPOs in the four different sectors in the hot and cold market periods, interest rates sensitive stocks showed a different trend from the other sectors and thus require further investigation to uncover this pattern.
Keywords: Underpricing, hot and cold markets, South Africa, JSE.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4201928 A Supplier-Manufacturer Relationship Model for Teak Forest Carbon Sequestration and Teak Log Demand Fulfillment with Sustainability Consideration
Authors: Ririn Dewi Cahyani, Muh. Hisjam, Wahyudi Sutopo, Kuncoro Harto Widodo
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Availability of raw materials is important for Indonesia as a furniture exporting country. Teak log as raw materials is supplied to the furniture industry by Perum Perhutani (PP). PP needs to involve carbon trading for nature conservation. PP also has an obligation in the Corporate Social Responsibility program. PP and furniture industry also must prosecute the regulations related to ecological issues and labor rights. This study has the objective to create the relationship model between supplier and manufacturer to fulfill teak log demand that involving teak forest carbon sequestration. A model is formulated as Goal Programming to get the favorable solution for teak log procurement and support carbon sequestration that considering economical, ecological, and social aspects of both supplier and manufacturer. The results show that the proposed model can be used to determine the teak log quantity involving carbon trading to achieve the seven goals to be satisfied the sustainability considerations.Keywords: Availability of teak log, support carbon sequestration, goal programming, sustainability consideration.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1718927 Value-Relevance of Accounting Information:Evidence from Iranian Emerging Stock Exchange
Authors: Ali Faal Ghayoumi, Mahmoud Dehghan Nayeri, Manouchehre Ansari, Taha Raeesi
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This study aims to investigate empirically the valuerelevance of accounting information to domestic investors in Tehran stock exchange from 1999 to 2006. During the present research impacts of two factors, including positive vs. negative earnings and the firm size are considered as well. The authors used earnings per share and annual change of earnings per share as the income statement indices, and book value of equity per share as the balance sheet index. Return and Price models through regression analysis are deployed in order to test the research hypothesis. Results depicted that accounting information is value-relevance to domestic investors in Tehran Stock Exchange according to both studied models. However, income statement information has more value-relevance than the balance sheet information. Furthermore, positive vs. negative earnings and firm size seems to have significant impact on valuerelevance of accounting information.Keywords: Value-Relevance of Accounting Information, Iranianstock exchange, Return Model, Price Model
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2565926 Carbon-Based Composites Enable Monitoring of Internal States in Concrete Structures
Authors: René Čechmánek, Jiří Junek, Bohdan Nešpor, Pavel Šteffan
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Regarding previous research studies it was concluded that thin-walled fiber-cement composites are able to conduct electric current under specific conditions. This property is ensured by using of various kinds of carbon materials. Though carbon fibers are less conductive than metal fibers, composites with carbon fibers were evaluated as better current conductors than the composites with metal fibers. The level of electric conductivity is monitored by the means of impedance measurement of designed samples. These composites could be used for a range of applications such as heating of trafficable surfaces or shielding of electro-magnetic fields. The aim of the present research was to design an element with the ability to monitor internal processes in building structures and prevent them from collapsing. As a typical element for laboratory testing there was chosen a concrete column, which was repeatedly subjected to load by simple pressure with continual monitoring of changes in electrical properties.
Keywords: Carbon, conductivity, loading, monitoring.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1835925 Characterization of Electrospun Carbon Nanofiber Doped Polymer Composites
Authors: Atilla Evcin, Bahri Ersoy, Süleyman Akpınar, I. Sinan Atlı
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Ceramic, polymer and composite nanofibers are nowadays begun to be utilized in many fields of nanotechnology. By the means of dimensions, these fibers are as small as nano scale but because of having large surface area and microstructural characteristics, they provide unique mechanic, optical, magnetic, electronic and chemical properties. In terms of nanofiber production, electrospinning has been the most widely used technique in recent years. In this study, carbon nanofibers have been synthesized from solutions of Polyacrylonitrile (PAN)/ N,N-dimethylformamide (DMF) by electrospinning method. The carbon nanofibers have been stabilized by oxidation at 250 °C for 2 h in air and carbonized at 750 °C for 1 h in H2/N2. Images of carbon nanofibers have been taken with scanning electron microscopy (SEM). The images have been analyzed to study the fiber morphology and to determine the distribution of the fiber diameter using FibraQuant 1.3 software. Then polymer composites have been produced from mixture of carbon nanofibers and silicone polymer. The final polymer composites have been characterized by X-ray diffraction method and scanning electron microscopy (SEM) energy dispersive X-ray (EDX) measurements. These results have been reported and discussed. At result, homogeneous carbon nanofibers with 100-167 nm of diameter were obtained with optimized electrospinning conditions.
Keywords: Electrospinning, characterization, composites, nanofiber.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 945924 Strategies to Achieve Deep Decarbonization in Power Generation: A Review
Authors: Abdullah Alotaiq
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The transition to low-carbon power generation is essential for mitigating climate change and achieving sustainability. This process, however, entails considerable costs, and understanding the factors influencing these costs is critical. This is necessary to cater to the increasing demand for low-carbon electricity across heating, industry, and transportation sectors. A crucial aspect of this transition is identifying cost-effective and feasible paths for decarbonization, which is integral to global climate mitigation efforts. It is concluded that hybrid solutions, combining different low-carbon technologies, are optimal for minimizing costs and enhancing flexibility. These solutions also address the challenges associated with phasing out existing fossil fuel-based power plants and broadening the spectrum of low-carbon power generation options.
Keywords: Review, power generation, energy transition, decarbonization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 75923 Research on the Public Policy of Vehicle Restriction under Traffic Control
Authors: Wang Qian, Bian Cheng Xiang
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In recent years, with the improvement of China's urbanization level, the number of urban motor vehicles has grown rapidly. As residents' daily commuting necessities, cars cause a lot of exhaust emissions and urban traffic congestion. In the "Fourteenth Five Year Plan" of China, it is proposed to strive to reach the peak of carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. Urban transport accounts for a high proportion of carbon emission sources. It is an important driving force for the realization of China's carbon peak strategy. Some cities have introduced and implemented the policy of "car restriction" to solve the related urban problems by reducing the use of cars. This paper analyzes the implementation of the "automobile restriction" policy, evaluates the relevant effects of the automobile restriction policy, and discusses how to better optimize the "automobile restriction" policy in the process of urban governance.
Keywords: Carbon emission, traffic jam, vehicle restriction, policy evaluation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 152922 Forecasting the Istanbul Stock Exchange National 100 Index Using an Artificial Neural Network
Authors: Birol Yildiz, Abdullah Yalama, Metin Coskun
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Many studies have shown that Artificial Neural Networks (ANN) have been widely used for forecasting financial markets, because of many financial and economic variables are nonlinear, and an ANN can model flexible linear or non-linear relationship among variables. The purpose of the study was to employ an ANN models to predict the direction of the Istanbul Stock Exchange National 100 Indices (ISE National-100). As a result of this study, the model forecast the direction of the ISE National-100 to an accuracy of 74, 51%.Keywords: Artificial Neural Networks, Istanbul StockExchange, Non-linear Modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2239921 Forecast Based on an Empirical Probability Function with an Adjusted Error Using Propagation of Error
Authors: Oscar Javier Herrera, Manuel Ángel Camacho
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This paper addresses a cutting edge method of business demand forecasting, based on an empirical probability function when the historical behavior of the data is random. Additionally, it presents error determination based on the numerical method technique ‘propagation of errors.’ The methodology was conducted characterization and process diagnostics demand planning as part of the production management, then new ways to predict its value through techniques of probability and to calculate their mistake investigated, it was tools used numerical methods. All this based on the behavior of the data. This analysis was determined considering the specific business circumstances of a company in the sector of communications, located in the city of Bogota, Colombia. In conclusion, using this application it was possible to obtain the adequate stock of the products required by the company to provide its services, helping the company reduce its service time, increase the client satisfaction rate, reduce stock which has not been in rotation for a long time, code its inventory, and plan reorder points for the replenishment of stock.Keywords: Demand Forecasting, Empirical Distribution, Propagation of Error.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1844920 Preparation of Porous Carbon Particles using a Spray-Drying Method with Colloidal Template
Authors: Yutaka Kisakibaru, AsepBayu Dani Nandiyanto, Ratna Balgis, Takashi Ogi, Kikuo Okuyama
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spherical porous carbon particles with controllable porosity with a mean size of 2.5m have been prepared using a spray drying method with organic particle colloidal template. As a precursor, a mixing solution of carbon nanopowder and polystyrene (PS) particles as a template was used. The result showed that the particles with a good porous structure could be obtained. The pore size and shape (spherical) were identical to the initial template, giving a potential way for further developments. The control of particle porosity was also possible and reported in this paper, in which this control could be achieved by means of PS concentration.Keywords: Porous structure particle; Carbon nanoparticles; Catalyst; Spray-drying method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2104919 How Stock Market Reacts to Guidance Revisions and Actual Earnings Surprises
Authors: Tero Halme, Juho Kanniainen, Markus Nordberg
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According to the existing literature, companies manage analysts’ expectations of their future earnings by issuing pessimistic earnings guidance to meet the expectations. Consequently, one could expect that markets price this pessimistic bias in advance and penalize companies more for lowering the guidance than reward for beating the guidance. In this paper we confirm this empirically. In addition we show that although guidance revisions have a statistically significant relation to stock returns, that is not the case with the actual earnings surprise. Reason for this could be that, after the annual earnings report also information on future earnings power is given at the same time.
Keywords: Management guidance, earnings guidance, pessimistic bias
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3022918 Mathematical Analysis of Stock Prices Prediction in a Financial Market Using Geometric Brownian Motion Model
Authors: Edikan E. Akpanibah, Ogunmodimu Dupe Catherine
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The relevance of geometric Brownian motion (GBM) in modelling the behaviour of stock market prices (SMP) cannot be over emphasized taking into consideration the volatility of the SMP. Consequently, there is need to investigate how GBM models are being estimated and used in financial market to predict SMP. To achieve this, the GBM estimation and its application to the SMP of some selected companies are studied. The normal and log-normal distributions were used to determine the expected value, variance and co-variance. Furthermore, the GBM model was used to predict the SMP of some selected companies over a period of time and the mean absolute percentage error (MAPE) were calculated and used to determine the accuracy of the GBM model in predicting the SMP of the four companies under consideration. It was observed that for all the four companies, their MAPE values were within the region of acceptance. Also, the MAPE values of our data were compared to an existing literature to test the accuracy of our prediction with respect to time of investment. Finally, some numerical simulations of the graphs of the SMP, expectations and variance of the four companies over a period of time were presented using MATLAB programming software.
Keywords: Stock Market, Geometric Brownian Motion, normal and log-normal distribution, mean absolute percentage error.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 267917 Reasons for the Slow Uptake of Embodied Carbon Estimation in the Sri Lankan Building Sector
Authors: Amalka Nawarathna, Nirodha Fernando, Zaid Alwan
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Global carbon reduction is not merely a responsibility of environmentally advanced developed countries, but also a responsibility of developing countries regardless of their less impact on global carbon emissions. In recognition of that, Sri Lanka as a developing country has initiated promoting green building construction as one reduction strategy. However, notwithstanding the increasing attention on Embodied Carbon (EC) reduction in the global building sector, they still mostly focus on Operational Carbon (OC) reduction (through improving operational energy). An adequate attention has not yet been given on EC estimation and reduction. Therefore, this study aims to identify the reasons for the slow uptake of EC estimation in the Sri Lankan building sector. To achieve this aim, 16 numbers of global barriers to estimate EC were identified through existing literature. They were then subjected to a pilot survey to identify the significant reasons for the slow uptake of EC estimation in the Sri Lankan building sector. A questionnaire with a three-point Likert scale was used to this end. The collected data were analysed using descriptive statistics. The findings revealed that 11 out of 16 challenges/ barriers are highly relevant as reasons for the slow uptake in estimating EC in buildings in Sri Lanka while the other five challenges/ barriers remain as moderately relevant reasons. Further, the findings revealed that there are no low relevant reasons. Eventually, the paper concluded that all the known reasons are significant to the Sri Lankan building sector and it is necessary to address them in order to upturn the attention on EC reduction.
Keywords: Embodied carbon emissions, embodied carbon estimation, global carbon reduction, Sri Lankan building sector.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 826916 Retrofitting Measures for Existing Housing Stock in Kazakhstan
Authors: S. Yessengabulov, A. Uyzbayeva
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Residential buildings fund of Kazakhstan was built in the Soviet time about 35-60 years ago without considering energy efficiency measures. Currently, most of these buildings are in a rundown condition and fail to meet the minimum of hygienic, sanitary and comfortable living requirements. The paper aims to examine the reports of recent building energy survey activities in the country and provide a possible solution for retrofitting existing housing stock built before 1989 which could be applicable for building envelope in cold climate. Methodology also includes two-dimensional modeling of possible practical solutions and further recommendations.
Keywords: Energy audit, energy efficient buildings in Kazakhstan, retrofit, two-dimensional conduction heat transfer analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1561915 Functionalization of Carbon Nanotubes Using Nitric Acid Oxidation and DBD Plasma
Authors: M. Vesali Naseh, A. A. Khodadadi, Y. Mortazavi, O. Alizadeh Sahraei, F. Pourfayaz, S. Mosadegh Sedghi
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In this study, multiwall carbon nanotubes (MWNTs) were modified with nitric acid chemically and by dielectric barrier discharge (DBD) plasma in an oxygen-based atmosphere. Used carbon nanotubes (CNTs) were prepared by chemical vapour deposition (CVD) floating catalyst method. For removing amorphous carbon and metal catalyst, MWNTs were exposed to dry air and washed with hydrochloric acid. Heating purified CNTs under helium atmosphere caused elimination of acidic functional groups. Fourier transformed infrared spectroscopy (FTIR) shows formation of oxygen containing groups such as C=O and COOH. Brunauer, Emmett, Teller (BET) analysis revealed that functionalization causes generation of defects on the sidewalls and opening of the ends of CNTs. Results of temperature-programmed desorption (TPD) and gas chromatography(GC) indicate that nitric acid treatment create more acidic groups than plasma treatment.Keywords: Carbon nanotubes (CNTs), chemical treatment, functionalization, plasma.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5774914 Effect of Different Types of Nano/Micro Fillers on the Interfacial Shear Properties of Polyamide 6 with De-Sized Carbon Fiber
Authors: Mohamed H. Gabr, Kiyoshi Uzawa
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The current study aims to investigate the effect of fillers with different geometries and sizes on the interfacial shear properties of PA6 composites with de-sized carbon fiber. The fillers which have been investigated are namely; nano-layer silicates (nanoclay), sub-micro aluminum titanium (ALTi) particles, and multiwall carbon nanotube (MWCNT). By means of X-ray photoelectron spectroscopy (XPS), epoxide group which defined as a sizing agent, has been removed. Sizing removal can reduce the acid parameter of carbon fibers surface promoting bonding strength at the fiber/matrix interface which is a desirable property for the carbon fiber composites. Microdroplet test showed that the interfacial shear strength (IFSS) has been enhanced with the addition of 10wt% ALTi by about 23% comparing with neat PA6. However, with including other types of fillers into PA6, the results did not show enhancement of IFSS.
Keywords: Sub-micro-filler, nano-composites, interfacial shear strength, polyamide.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1372913 Investigating the Fiber Content, Fiber Length, and Curing Characteristics of 3D Printed Recycled Carbon Fiber
Authors: Peng Hao Wang, Ronald Sterkenburg, Garam Kim, Yuwei He
Abstract:
As composite materials continue to gain popularity in the aerospace industry; large airframe sections made out of composite materials are becoming the standard for aerospace manufacturers. However, the heavy utilization of these composite materials also increases the importance of the recycling of these composite materials. A team of Purdue University School of Aviation and Transportation Technology (SATT) faculty and students have partnered to investigate the characteristics of 3D printed recycled carbon fiber. A prototype of a 3D printed recycled carbon fiber part was provided by an industry partner and different sections of the prototype were used to create specimens. A furnace was utilized in order to remove the polymer from the specimens and the specimen’s fiber content and fiber length was calculated from the remaining fibers. A differential scanning calorimetry (DSC) and dynamic mechanical analysis (DMA) test was also conducted on the 3D printed recycled carbon fiber prototype in order to determine the prototype’s degree of cure at different locations. The data collected from this study provided valuable information in the process improvement and understanding of 3D printed recycled carbon fiber.
Keywords: 3D printed, carbon fiber, fiber content, recycling.
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