Search results for: renewable energy firms

Authors: William Anderson, Kyle Kobold, Oleg Yakimenko

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Green microgrids using mostly renewable energy (RE) for generation, are complex systems with inherent nonlinear dynamics. Among a variety of different optimization tools there are only a few ones that adequately consider this complexity. This paper evaluates applicability of two somewhat similar optimization tools tailored for standalone RE microgrids and also assesses a machine learning tool for performance prediction that can enhance the reliability of any chosen optimization tool. It shows that one of these microgrid optimization tools has certain advantages over another and presents a detailed routine of preparing input data to simulate RE microgrid behavior. The paper also shows how neural-network-based predictive modeling can be used to validate and forecast solar power generation based on weather time series data, which improves the overall quality of standalone RE microgrid analysis.

Keywords: Microgrid, renewable energy, complex systems, optimization, predictive modeling, neural networks.

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Authors: Sayem Zafar, Mahmood Rahi

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Rigorous international maritime regulations are in place to limit boat and ship hydrocarbon emissions. The global sustainability goals are reducing the fuel consumption and minimizing the emissions from the ships and boats. These maritime sustainability goals have attracted a lot of research interest. Energy harvesting and storage system is designed in this study based on hybrid renewable and conventional energy systems. This energy harvesting and storage system is designed for marine applications, such as, boats and small ships. These systems can be utilized for mobile use or off-grid remote electrification. This study analyzed the use of micro power generation for boats and small ships. The energy harvesting and storage system has two distinct systems i.e. dockside shore-based system and on-board system. The shore-based system consists of a small wind turbine, photovoltaic (PV) panels, small gas turbine, hydrogen generator and high-pressure hydrogen storage tank. This dockside system is to provide easy access to the boats and small ships for supply of hydrogen. The on-board system consists of hydrogen storage tanks and fuel cells. The wind turbine and PV panels generate electricity to operate electrolyzer. A small gas turbine is used as a supplementary power system to contribute in case the hybrid renewable energy system does not provide the required energy. The electrolyzer performs the electrolysis on distilled water to produce hydrogen. The hydrogen is stored in high-pressure tanks. The hydrogen from the high-pressure tank is filled in the low-pressure tanks on-board seagoing vessels to operate the fuel cell. The boats and small ships use the hydrogen fuel cell to provide power to electric propulsion motors and for on-board auxiliary use. For shore-based system, a small wind turbine with the total length of 4.5 m and the disk diameter of 1.8 m is used. The small wind turbine dimensions make it big enough to be used to charge batteries yet small enough to be installed on the rooftops of dockside facility. The small dimensions also make the wind turbine easily transportable. In this paper, PV, sizing and solar flux are studied parametrically. System performance is evaluated under different operating and environmental conditions. The parametric study is conducted to evaluate the energy output and storage capacity of energy storage system. Results are generated for a wide range of conditions to analyze the usability of hybrid energy harvesting and storage system. This energy harvesting method significantly improves the usability and output of the renewable energy sources. It also shows that small hybrid energy systems have promising practical applications.

Keywords: Energy harvesting, fuel cell, hybrid energy system, hydrogen, wind turbine.

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Authors: Klathea Sevilla, Marjorie Remolador, Bryan Baltazar, Imee Saladaga, Loureal Camille Inocencio, Ma. Rosario Concepcion Ang

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The underutilization of biomass resources in the Philippines, combined with its growing population and the rise in fossil fuel prices confirms demand for alternative energy sources. The goal of this paper is to provide a comparison of MODIS-based and Landsat-based agricultural land cover maps when used in the estimation of rice hull’s available energy potential. Biomass resource assessment was done using mathematical models and remote sensing techniques employed in a GIS platform.

Keywords: Biomass, geographic information system, GIS, renewable energy.

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Authors: Idil Kanter Otcu

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Nowadays, due to the growing problems of energy supply and the drastic reduction of natural non-renewable resources, the development of new applications in the energy sector and steps towards greater efficiency in energy consumption are required. Since buildings account for a large share of energy consumption, increasing the structural density of buildings causes an increase in energy consumption. This increase in energy consumption means that energy efficiency approaches to building design and the integration of new systems using emerging technologies become necessary in order to curb this consumption. As new systems for productive usage of generated energy are developed, buildings that require less energy to operate, with rational use of resources, need to be developed. One solution for reducing the energy requirements of buildings is through landscape planning, design and application. Requirements such as heating, cooling and lighting can be met with lower energy consumption through planting design, which can help to achieve more efficient and rational use of resources. Within this context, rather than a planting design which considers only the ecological and aesthetic features of plants, these considerations should also extend to spatial organization whereby the relationship between the site and open spaces in the context of climatic elements and planting designs are taken into account. In this way, the planting design can serve an additional purpose. In this study, a landscape design which takes into consideration location, local climate morphology and solar angle will be illustrated on a sample building project.

Keywords: Energy efficiency, landscape design, plant design, xeriscape landscape.

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Authors: Ahmed Elsayed, Andrew Shea, Nicolas Kelly, John Allison

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In northern European climates, domestic space heating and hot water represents a significant proportion of total primary total primary energy use and meeting these demands from a national electricity grid network supplied by renewable energy sources provides an opportunity for a significant reduction in EU CO₂ emissions. However, in order to adapt to the intermittent nature of renewable energy generation and to avoid co-incident peak electricity usage from consumers that may exceed current capacity, the demand for heat must be decoupled from its generation. Storage of heat within the fabric of dwellings for use some hours, or days, later provides a route to complete decoupling of demand from supply and facilitates the greatly increased use of renewable energy generation into a local or national electricity network. The integration of thermal energy storage into the building fabric for retrieval at a later time requires much evaluation of the many competing thermal, physical, and practical considerations such as the profile and magnitude of heat demand, the duration of storage, charging and discharging rate, storage media, space allocation, etc. In this paper, the authors report investigations of thermal storage in building fabric using concrete material and present an evaluation of several factors that impact upon performance including heating pipe layout, heating fluid flow velocity, storage geometry, thermo-physical material properties, and also present an investigation of alternative storage materials and alternative heat transfer fluids. Reducing the heating pipe spacing from 200 mm to 100 mm enhances the stored energy by 25% and high-performance Vacuum Insulation results in heat loss flux of less than 3 W/m², compared to 22 W/m² for the more conventional EPS insulation. Dense concrete achieved the greatest storage capacity, relative to medium and light-weight alternatives, although a material thickness of 100 mm required more than 5 hours to charge fully. Layers of 25 mm and 50 mm thickness can be charged in 2 hours, or less, facilitating a fast response that could, aggregated across multiple dwellings, provide significant and valuable reduction in demand from grid-generated electricity in expected periods of high demand and potentially eliminate the need for additional new generating capacity from conventional sources such as gas, coal, or nuclear.

Keywords: Fabric integrated thermal storage, FITS, demand side management, energy storage, load shifting, renewable energy integration.

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Authors: Crystal X. Jiang, Tess Han, George J. Titus, Matthew J. Liberatore

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Information is a critical asset and an important source for gaining competitive advantage in firms. The effective maintenance of IT becomes an important task. In order to better understand the determinants of IT effectiveness, this study employs the Industrial Organization (I/O) and Resource Based View (RBV) theories and investigates the industry effect and several major firmspecific factors in relation to their impact on firms- IT effectiveness. The data consist of a panel data of ten-year observations of firms whose IT excellence had been recognized by the CIO Magazine. The non-profit organizations were deliberately excluded, as explained later. The results showed that the effectiveness of IT management varied significantly across industries. Industry also moderated the effects of firm demographic factors such as size and age on IT effectiveness. Surprisingly, R & D investment intensity had negative correlation to IT effectiveness. For managers and practitioners, this study offers some insights for evaluation criteria and expectation for IT project success. Finally, the empirical results indicate that the sustainability of IT effectiveness appears to be short in duration.

Keywords: Firm effect, industry effect, IT effectiveness, sustained IT effectiveness.

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Authors: Nahed Ayedh Al-Hajeri

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In a world of climate change and limited fossil fuel resources, renewable energy sources are playing an increasingly important role. Due to industrializations and population growth our economy and technologies today largely depend upon natural resources, which are not replaceable. Approximately 90% of our energy consumption comes from fossil fuels (viz. coal, oil and natural gas). The irony is that these resources are depleting. Also, the huge consumption of fossil fuels has caused visible damage to the environment in various forms viz. global warming, acid rains etc.

Keywords: Kilo watt, kilo watt hour, carbon di-oxide, photovoltaic, environmental protection agency, Kwaiti dinar.

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Authors: Chukwudi Henry Dike

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We explore targeted subsidy in a set-up for which manufacturing firms in a waste-spillover network make endogenous production decisions. Here, games of substitution in digraphs arises where waste-producing firms internalise negative externality in a quadratic fashion. We find neutrality in intervention policies that create or reduce spillover links. Most importantly, we observe centrality distinction in asymmetric digraphs so that the dependence and power of each firm play unique roles. Here we see that in targeted subsidy, a firm with greater centrality guarantees optimal welfare improvement. This centrality however measures the weakness of each firm’s Nash-based link to other neighbourhood firms i.e., lower negative externality.

Keywords: Centrality, externality, key-player, Nash-Equilibrium.

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Authors: R. A. Sabir , X. Xinping , S.A. Sabr

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This paper has presented research in progress concerning the contribution of target costing approach to achievement competitive price in the Iraqi firm. The title of the paper is one of the subjects that get large concerns in the finance and business world in the present time. That is because many competitive firms have appeared in the regional and global markets and the rapid changes that covered all fields of life. On the other hand, this paper concentrated on lack knowledge of the industrial firms, regarding the significant role of target cost for achieving the competitive prices. The paper depends on the main supposition, using the competitive price to get the target cost in the industrial firms. In order to achieve competitive advantage in business world the firms should rely on modern methods to manage cost and profit. From strategic perspective the target cost achieves a so powerful competitive advantage represented in cost reduction. Nevertheless the target cost does not exclude the calculation and survey of costs during the production process. Products- estimated costs are calculated and compared with the target costs.

Keywords: Target Costing, Competitive Price, Target Profit, Iraq Kurdistan Region.

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Authors: Nargess Mottaghi Golshan, Siti Zaleha Abdul Rasid

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Purpose:This paper aims to gain insights to the influential factors of ERM adoptions by public listed firms in Malaysia. Findings:The two factors of financial leverage and auditor type were found to be significant influential factors for ERM adoption. In other words the findings indicated that firms with higher financial leverage and with a Big Four auditor are more likely to have a form of ERM framework in place. Originality/Value:Since there are relatively few studies conducted in this area and specially in developing economies like Malaysia, this study will broaden the scope of literature by providing novel empirical evidence.

Keywords: Enterprise risk management, risk, public listed company.

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Authors: G. Sekeroglu, M. Altan

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Working capital is identified as firm’s all current assets. Inventories which are one of the working capital elements are very important among current assets for firms. Because, profitability is an indicator for firms’ financial success is provided with minimum cost and optimum inventory quantity. So in this study, it is investigated as comparatively that the effect of inventory management on the profitability of Turkish firms which operated in weaving industry, eatables industry, wholesale and retail industry in between 2003 – 2012 years. Research data consist of profitability ratios and inventory turnovers ratio calculated by using balance sheets and income statements of firms which operated in Borsa Istanbul (BIST). In this research, the relationship between inventories and profitability is investigated by using SPSS-20 software with regression and correlation analysis. The results achieved from three industry departments which exist in study interpreted as comparatively. Accordingly, it is determined that there is a positive relationship between inventory management and profitability in eatables industry. However, it was founded that there is no relationship between inventory management and profitability in weaving industry and wholesale and retail industry.

Keywords: Profitability, regression analysis, inventory management, working capital.

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Authors: Adel M. Sharaf, Foad H. Gandoman

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Nowadays, Photovoltaic-PV Farms/ Parks and large PV-Smart Grid Interface Schemes are emerging and commonly utilized in Renewable Energy distributed generation. However, PVhybrid- Dc-Ac Schemes using interface power electronic converters usually has negative impact on power quality and stabilization of modern electrical network under load excursions and network fault conditions in smart grid. Consequently, robust FACTS based interface schemes are required to ensure efficient energy utilization and stabilization of bus voltages as well as limiting switching/fault onrush current condition. FACTS devices are also used in smart grid- Battery Interface and Storage Schemes with PV-Battery Storage hybrid systems as an elegant alternative to renewable energy utilization with backup battery storage for electric utility energy and demand side management to provide needed energy and power capacity under heavy load conditions. The paper presents a robust interface PV-Li-Ion Battery Storage Interface Scheme for Distribution/Utilization Low Voltage Interface using FACTS stabilization enhancement and dynamic maximum PV power tracking controllers. Digital simulation and validation of the proposed scheme is done using MATLAB/Simulink software environment for Low Voltage- Distribution/Utilization system feeding a hybrid Linear-Motorized inrush and nonlinear type loads from a DC-AC Interface VSC-6- pulse Inverter Fed from the PV Park/Farm with a back-up Li-Ion Storage Battery.

Keywords: AC FACTS, Smart grid, Stabilization, PV-Battery Storage, Switched Filter-Compensation (SFC).

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Authors: Nurhayati Abdullah, Fauziah Sulaiman, Muhamad Azman Miskam, Rahmad Mohd Taib

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Banana pseudo-stem and fruit-bunch-stem are agricultural residues that can be used for conversion to bio-char, biooil, and gases by using thermochemical process. The aim of this work is to characterize banana pseudo-stem and banana fruit-bunch-stem through proximate analysis, elemental analysis, chemical analysis, thermo-gravimetric analysis, and heating calorific value. The ash contents of the banana pseudo-stem and banana fruit-bunch-stem are 11.0 mf wt.% and 20.6 mf wt.%; while the carbon content of banana pseudo-stem and fruit-bunch-stem are 37.9 mf wt.% and 35.58 mf wt.% respectively. The molecular formulas for banana stem and banana fruit-bunch-stem are C24H33NO26 and C19H29NO33 respectively. The measured higher heating values of banana pseudostem and banana fruit-bunch-stem are 15.5MJ/kg and 12.7 MJ/kg respectively. By chemical analysis, the lignin, cellulose, and hemicellulose contents in the samples will also be presented. The feasibility of the banana wastes to be a feedstock for thermochemical process in comparison with other biomass will be discussed in this paper.

Keywords: Banana Waste, Biomass, Renewable Energy, Thermo-chemical Characteristics.

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Authors: Eman Simbawa, Budur Alasmri, Hanan Munahir, Hanin Munahir

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Solar energy has become currently the subject of attention around the world and is undergoing many researches and studies. Using solar energy, which is a renewable energy, is aligned with the Saudi Vision 2030. People are more aware of it and are starting to use it more for environmental and economical reasons. A questionnaire was conducted in this paper to measure the awareness of people in Saudi Arabia regarding solar energy and their attitude towards it. Then, two kinds of air conditioners (one powered by electricity only and one powered by solar panels and electricity) are compared in terms of their cost over a period of 20 years. This will help the users to decide which kind of device to use depending on its cost. The result shows that as the electricity tariffs in Saudi Arabia increases, depending on the sector, the solar air conditioner is cheaper. In fact, if the tariff in the future increases to reach 50 Halalah/kWh, the solar air conditioner is more economical. This will influence users to buy more solar powered devices, and it will decrease the consumption of electricity. Therefore, the dependence on oil will decrease.

Keywords: Air conditioner, solar energy, photovoltaic cells, present value.

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Authors: A. P. Crowle

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Floating offshore wind farms may provide in the future large quantities of renewable energy. One of the challenges to their future development is the provision of installation vessels for the offshore installation of floating wind turbines. This paper examines the current fleet of vessels that can be used for inshore construction. Separate vessels are required for the ocean tow out and the offshore installation. Information will be provided on what new vessels might be required to improve the efficiency and reduce costs of installing floating wind turbines. Specialized cargo vessels are required for this initial mobilization. Anchor handling vessels are required to tow the floating wind turbine offshore and to install and connect the moorings. Subsea work vessels are required to install the dynamic cables whilst cable lay vessels are required for the export power cable. This paper reviews the existing and future installation vessel requirement for floating wind. Dedicated ports are required for vertical integration of the substructure and the tower, nacelle and blades.

Keywords: Floating wind, naval architecture, offshore installation vessels, ports for renewable energy.

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Authors: Mario Gómez, Won Ho Kim, Ángel Licona, José Carlos Rodríguez

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This article analyzes innovation activity in Mexico and South Korea. It develops an econometric model to test for structural breaks in the number of patent applications filed by residents and nonresidents in these countries during the period of 1965 to 2012. These changes may suggest that firms’ innovative capabilities have changed because of implementing different science, technology and innovation (STI) policies in Mexico and South Korea. Two important features characterize this research from others already developed by these authors. First, the theoretical research framework in this research is the debate between the assimilation view of growth and the accumulation view of growth. This characteristic suggests that trade liberalization should be accompanied by an adequate STI policy to boost competitiveness among indigenous firms. Second, the analysis in this research stresses the importance of key actors (e.g. governments) to successfully develop innovation capabilities among indigenous firms. Therefore, the question conducting this research is how STI policies in Mexico and South Korea contributed to develop firms’ innovation capabilities in these countries during last decades? The results from this research suggests that STI policy in South Korea was more suitable to boost innovation firms to compete in markets. Data to develop this research was released by the World Intellectual Property Organization (WIPO).

Keywords: Econometric methods, innovation, Mexico, South Korea, STI Policy.

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Authors: Arvind Kumar, Manoj Kumar, Dattatraya H. Nagaraj, Amanpreet Singh, Jayanthi Prattapati

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In recent years, the use of renewable energy resources instead of pollutant fossil fuels and other forms has increased. Photovoltaic generation is becoming increasingly important as a renewable resource since it does not cause in fuel costs, pollution, maintenance, and emitting noise compared with other alternatives used in power applications. In this paper, Perturb and Observe and Incremental Conductance methods are used to improve energy conversion efficiency under different environmental conditions. PI controllers are used to control easily DC-link voltage, active and reactive currents. The whole system is simulated under standard climatic conditions (1000 W/m2, 250C) in MATLAB and the irradiance is varied from 1000 W/m2 to 300 W/m2. The use of PI controller makes it easy to directly control the power of the grid connected PV system. Finally the validity of the system will be verified through the simulations in MATLAB/Simulink environment.

Keywords: Incremental conductance algorithm, modeling of PV panel, perturb and observe algorithm, photovoltaic system and simulation results.

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Authors: Saumyaranjan Sahoo, Sudhir Yadav

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Indian manufacturing firms operating in rapidly changing and highly competitive market, over the last few decades, have embraced organization-wide transformation to achieve cultural and operational excellence. In recent years, numerous approaches have been proposed to improve business and manufacturing performance. Lean practices in particular, Total Productive Management (TPM) and Total Quality Management (TQM) have received considerable attention, as they being adopted and adapted for raising the performance standard of Indian manufacturing firms to world class levels. The complementary nature of TPM and TQM is being practiced in many companies to achieve synergy. Specifically, this research investigates whether joint TPM-TQM implementation contribute to higher business performance when compared to individual implementation. Data from 160 manufacturing firms were analyzed that demonstrate synergetic implementation of both TPM-TQM practices over a reasonable period of time, contributed in delivering better business performance as compared to individual implementation strategy.

Keywords: Total productive management, total quality management, Indian manufacturing firms, business performance.

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Authors: Gulsevim Yumuk Gunay, Suleyman Gokhan Gunay

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Corporate social responsibility (CSR) can be defined as the management of social, environmental, economical and ethical concepts and firms sensivities to the expectations of the social stakeholders. CSR is seen as an important competitive advantage in the textile sector because this sector has an important impact on the environment and it is labor extensive. Textile sector has a strong advantage when compared with other sectors in Turkey due to its low labor costs and abundancy of raw materials. Turkey was a producer and an exporter of cotton, and an importer of fiber, clothes and dresses until 1950s. After 1950s, Turkey has begun to export fiber, ready-made clothes and become one of the most important textile producers in the world recently. CSR practices of the textile firms that are quoted in Istanbul Stock Exchange and these firms sensivities to their internal and external stakeholders and environment will be presented in this study.

Keywords: corporate social responsibility, Istanbul Stock Exchange, textile sector, Turkey

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Authors: F. Apaydın

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In this empirical research, how marketing managers evaluate their firms- performances and decide to make innovation is examined. They use some standards which are past performance of the firm, target performance of the firm, competitor performance, and average performance of the industry to compare and evaluate the firms- performances. It is hypothesized that marketing managers and owners of the firm compare the firms- current performance with these four standards at the same time to decide when to make innovation relating to any aspects of the firm, either management style or products. Relationship between the comparison of the firm-s performance with these standards and innovation are searched in the same regression model. The results of the regression analysis are discussed and some recommendations are made for future studies and applicants.

Keywords: Innovation, performance evaluation standards

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Authors: E. Sok, Y. Zhuo, S. Wang

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A hybrid Photovoltaic/Thermal (PV/T) solar system integrates photovoltaic and solar thermal technologies into one single solar energy device, with dual generation of electricity and heat energy. The aim of the present study is to evaluate the potential for introduction of the PV/T technology into Northern China. For this purpose, outdoor experiments were conducted on a prototype of a PV/T water-heating system. The annual thermal and electrical performances were investigated under the climatic conditions of Beijing. An economic analysis of the system was then carried out, followed by a sensitivity study. The analysis revealed that the hybrid system is not economically attractive with the current market and energy prices. However, considering the continuous commitment of the Chinese government towards policy development in the renewable energy sector, and technological improvements like the increasing cost-effectiveness of PV cells, PV/Thermal technology may become economically viable in the near future.

Keywords: Hybrid Photovoltaic/Thermal (PV/T), Solar energy, Economic analysis

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Authors: Claudineia Brazil, Elison Eduardo Jardim Bierhals, Luciane Teresa Salvi, Rafael Haag

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Renewable energy sources are dependent on climatic variability, so for adequate energy planning, observations of the meteorological variables are required, preferably representing long-period series. Despite the scientific and technological advances that meteorological measurement systems have undergone in the last decades, there is still a considerable lack of meteorological observations that form series of long periods. The reanalysis is a system of assimilation of data prepared using general atmospheric circulation models, based on the combination of data collected at surface stations, ocean buoys, satellites and radiosondes, allowing the production of long period data, for a wide gamma. The third generation of reanalysis data emerged in 2010, among them is the Climate Forecast System Reanalysis (CFSR) developed by the National Centers for Environmental Prediction (NCEP), these data have a spatial resolution of 0.50 x 0.50. In order to overcome these difficulties, it aims to evaluate the performance of solar radiation estimation through alternative data bases, such as data from Reanalysis and from meteorological satellites that satisfactorily meet the absence of observations of solar radiation at global and/or regional level. The results of the analysis of the solar radiation data indicated that the reanalysis data of the CFSR model presented a good performance in relation to the observed data, with determination coefficient around 0.90. Therefore, it is concluded that these data have the potential to be used as an alternative source in locations with no seasons or long series of solar radiation, important for the evaluation of solar energy potential.

Keywords: Climate, reanalysis, renewable energy, solar radiation.

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Authors: Shane D. Inder, Mehrdad Khamooshi

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Efficient energy storage is a crucial factor in facilitating the uptake of renewable energy resources. Among the many options available for energy storage systems required to balance imbalanced supply and demand cycles, compressed air energy storage (CAES) is a proven technology in grid-scale applications. This paper reviews the current state of micro scale CAES technology and describes a micro-scale advanced adiabatic CAES (A-CAES) system, where heat generated during compression is stored for use in the discharge phase. It will also describe a thermodynamic model, developed in EES (Engineering Equation Solver) to evaluate the performance and critical parameters of the discharge phase of the proposed system. Three configurations are explained including: single turbine without preheater, two turbines with preheaters, and three turbines with preheaters. It is shown that the micro-scale A-CAES is highly dependent upon key parameters including; regulator pressure, air pressure and volume, thermal energy storage temperature and flow rate and the number of turbines. It was found that a micro-scale AA-CAES, when optimized with an appropriate configuration, could deliver energy input to output efficiency of up to 70%.

Keywords: CAES, adiabatic compressed air energy storage, expansion phase, micro generation, thermodynamic.

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Authors: Bita Mashayekhi, Hamid Kalhornia

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One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations.

Keywords: Corporate governance, disclosure, investment decisions, investment efficiency, transparency.

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Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu

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After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.

Keywords: financial education, corporate governance, board

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Authors: T. Y. Liu, C. H Lin., Y. M Ferng

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Wind energy is one of the clean renewable energy. However, the low frequency (20-200HZ) noise generated from the wind turbine blades, which bothers the residents, becomes the major problem to be developed. It is useful for predicting the aerodynamic noise by flow field and pressure distribution analysis on the wind turbine blades. Therefore, the main objective of this study is to use different turbulence models to analyze the flow field and pressure distributions of the wing blades.

Three-dimensional Computation Fluid Dynamics (CFD) simulation of the flow field was used to calculate the flow phenomena for the National Renewable Energy Laboratory (NREL) Phase VI horizontal axis wind turbine rotor. Two different flow cases with different wind speeds were investigated: 7m/s with 72rpm and 15m/s with 72rpm.

Four kinds of RANS-based turbulence models, Standard k-ε, Realizable k-ε, SST k-ω, and v2f, were used to predict and analyze the results in the present work. The results show that the predictions on pressure distributions with SST k-ω and v2f turbulence models have good agreements with experimental data.

Keywords: Horizontal Axis Wind Turbine, turbulence model, noise.

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Authors: P. V. V. Rama Rao, B. Kali Prasanna, Y. T. R. Palleswari

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Renewable energy is derived from natural processes that are replenished constantly. Included in the definition is electricity and heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, and bio-fuels and hydrogen derived from renewable resources. Each of these sources has unique characteristics which influence how and where they are used. This paper presents the modeling the simulation of solar and hydro hybrid energy sources in MATLAB/SIMULINK environment. It simulates all quantities of Hybrid Electrical Power system (HEPS) such as AC output current of the inverter that injected to the load/grid, load current, grid current. It also simulates power output from PV and Hydraulic Turbine Generator (HTG), power delivered to or from grid and finally power factor of the inverter for PV, HTG and grid. The proposed circuit uses instantaneous p-q (real-imaginary) power theory.

Keywords: Photovoltaic Array, Hydraulic Turbine Generator, Electrical Utility (EU), Hybrid Electrical Power Supply.

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Authors: Kai-Ying A. Chan, Leon A.G. Oerlemans, Marthinus W. Pretorius

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Science parks are often established to drive regional economic growth, especially in countries with emerging economies. However, mixed findings regarding the performances of science park firms are found in the literature. This study tries to explain these mixed findings by taking a relational approach and exploring (un)intended knowledge transfers between new technology-based firms (NTBFs) in the emerging South African economy. Moreover, the innovation outcomes of these NTBFs are examined by using a multi-dimensional construct. Results show that science park location plays a significant role in explaining innovative sales, but is insignificant when a different indicator of innovation outcomes is used. Furthermore, only for innovations that are new to the firms, both science park location and intended knowledge transfer via informal business relationships have a positive impact; whereas social relationships have a negative impact.

Keywords: knowledge flows, innovative performances, science parks, new technology-based firms

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Authors: S. Forughi, A. De Zoysa, S. Bhati

Abstract:

The present study focuses on the environmental performance of the companies in the electricity-producing sector and its relationship with their financial performance. We will review the major studies that examined the relationship between the environmental and financial performance of firms in various industries. While the classical economic debates consider the environmental friendly activities costly and harmful to a firm’s profitability, it is claimed that firms will be rewarded with higher profitability in long run through the investments in environmental friendly activities. In this context, prior studies have examined the relationship between the environmental and financial performance of firms operating in different industry sectors. Our study will employ an environmental indicator to increase the accuracy of the results and be employed as an independent variable in our developed econometric model to evaluate the impact of the financial performance of the firms on their environmental friendly activities in the context of companies operating in the Australian electricity-producing sector. As a result, we expect our methodology to contribute to the literature and the findings of the study will help us to provide recommendations and policy implications to the electricity producers.

Keywords: Australian electricity sector, efficiency measurement, environmental-financial performance interaction, environmental index.

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Authors: Gun Yung Go, Man Young Kim

Abstract:

Worldwide interests for the renewable energy are increasing due to environmental and climate changes from traditional petroleum related energy sources. To account for these social needs, ligneous biomass energy is considered as one of the environmentally friend energy solutions. The wood torrefaction process is a feasible method to improve the properties of the biomass fuel and makes the wood have low moisture, lower smoke emission and increased heating value. In this work, therefore, the moisture evaporation model which largely affects energy efficiency of ligneous biomass through moisture contents and heating value relative to its weight is studied with numerical modeling approach by analyzing the effects of torrefaction furnace temperature. The results show that the temperature and moisture fraction of wood decrease by increasing the furnace temperature. When the torrefaction temperature is lower than 423K, there were little changes of the moisture fraction in the wood. Also, it can be found that charcoal is produced more slowly when the torrefaction temperature is lower than 573K.

Keywords: Modeling, Torrefaction, Biomass, Moisture Fraction, Charcoal.

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