Search results for: Emissions Trading

Authors: Jong-Whoi Shin, Jin-Tae Lee, Sang-Soo Jang, Jae-II Lee

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Recent widespread use of information and communication technology has greatly changed information security risks that businesses and institutions encounter. Along with this situation, in order to ensure security and have confidence in electronic trading, it has become important for organizations to take competent information security measures to provide international confidence that sensitive information is secure. Against this backdrop, the approach to information security checking has come to an important issue, which is believed to be common to all countries. The purpose of this paper is to introduce the new system of information security checking program in Korea and to propose synthetic information security countermeasures under domestic circumstances in order to protect physical equipment, security management and technology, and the operation of security check for securing services on ISP(Internet Service Provider), IDC(Internet Data Center), and e-commerce(shopping malls, etc.)

Keywords: Information Security Check Service, safety criteria, object enterpriser.

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Authors: Vartan Ahrens Kayayan, Mattias Gustafsson, Erik Dotzauer

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The European Union is introducing the positive energy district concept, which has the goal to reduce overall carbon dioxide emissions. The Swedish energy system is unique compared to others in Europe, due to the implementation of low-carbon electricity and heat energy sources and high uptake of district heating. The goal for this paper is to start the discussion about how the concept of positive energy districts can best be applied to the Swedish context and meet their mitigation goals. To explore how these differences impact the formation of positive energy districts, two cases were analyzed for their methods and how these integrate into the Swedish energy system: a district in Uppsala with a focus on energy and another in Helsingborg with a focus on climate. The case in Uppsala uses primary energy calculations which can be criticized but take a virtual border that allows for its surrounding system to be considered. The district in Helsingborg has a complex methodology for considering the life cycle emissions of the neighborhood. It is successful in considering the energy balance on a monthly basis, but it can be problematized in terms of creating sub-optimized systems due to setting tight geographical constraints. The discussion of shaping the definitions and methodologies for positive energy districts is taking place in Europe and Sweden. We identify three pitfalls that must be avoided so that positive energy districts meet their mitigation goals in the Swedish context. The goal of pushing out fossil fuels is not relevant in the current energy system, the mismatch between summer electricity production and winter energy demands should be addressed, and further implementations should consider collaboration with the established district heating grid.

Keywords: Positive energy districts, energy system, renewable energy, European Union.

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Authors: Yi-Chang Chen, Shan-Lin Chang, Chia-Chun Wu

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Unlike this study focused extensively on trading behavior of option market, those researches were just taken their attention to model-driven option pricing. For example, Black-Scholes (B-S) model is one of the most famous option pricing models. However, the arguments of B-S model are previously mentioned by some pricing models reviewing. This paper following suggests the importance of the dynamic character for option pricing, which is also the reason why using the genetic algorithm (GA). Because of its natural selection and species evolution, this study proposed a hybrid model, the Genetic-BS model which combining GA and B-S to estimate the price more accurate. As for the final experiments, the result shows that the output estimated price with lower MAE value than the calculated price by either B-S model or its enhanced one, Gram-Charlier garch (G-C garch) model. Finally, this work would conclude that the Genetic-BS pricing model is exactly practical.

Keywords: genetic algorithm, Genetic-BS, option pricing model.

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Authors: Gabor Szendro, Maria Csete

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The effects of the transport sector on the environment are a well-recognized issue in the European Union and around the world. This area is a subject of much discussion as to how these negative effects could be minimized, especially with regards to impacts contributing to climate change. This paper aims to investigate the results of the economic crisis and how its consequences could be exploited to combat air pollution.

Keywords: Air pollution, climate change, recession, transport

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Authors: Moustafa Osman Mohammed

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This paper will explore formation of HCl aerosol at atmospheric boundary layers and encourages the uptake of environmental modeling systems (EMSs) as a practice evaluation of gaseous emissions (“framework measures”) from small and medium-sized enterprises (SMEs). The conceptual model predicts greenhouse gas emissions to ecological points beyond landfill site operations. It focuses on incorporation traditional knowledge into baseline information for both measurement data and the mathematical results, regarding parameters influence model variable inputs. The paper has simplified parameters of aerosol processes based on the more complex aerosol process computations. The simple model can be implemented to both Gaussian and Eulerian rural dispersion models. Aerosol processes considered in this study were (i) the coagulation of particles, (ii) the condensation and evaporation of organic vapors, and (iii) dry deposition. The chemical transformation of gas-phase compounds is taken into account photochemical formulation with exposure effects according to HCl concentrations as starting point of risk assessment. The discussion set out distinctly aspect of sustainability in reflection inputs, outputs, and modes of impact on the environment. Thereby, models incorporate abiotic and biotic species to broaden the scope of integration for both quantification impact and assessment risks. The later environmental obligations suggest either a recommendation or a decision of what is a legislative should be achieved for mitigation measures of landfill gas (LFG) ultimately.

Keywords: Air dispersion model, landfill management, spatial analysis, environmental impact and risk assessment.

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Authors: Azwadi Ali

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The survival of publicly listed companies largely depends on their stocks being liquidly traded. This goal can be achieved when new investors are attracted to invest on companies- stocks. Among different groups of investors, individual investors are generally less able to objectively evaluate companies- risks and returns, and tend to be emotionally biased in their investing decisions. Therefore their decisions may be formed as a result of perceived risks and returns, and influenced by companies- images. This study finds that perceived risk, perceived returns and trust directly affect individual investors- trading decisions while attitude towards brand partially mediates the relationships. This finding suggests that, in courting individual investors, companies still need to perform financially while building a good image can result in their stocks being accepted quicker than the stocks of good performing companies with hidden images.

Keywords: Behavioral Finance, Investment, Attitude towardsBrand, Partial Least Squares

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Authors: Malika Yaici, Anis Oussayah, Mohamed Ahmed Takerrabet

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Security of context-aware ubiquitous systems is paramount, and authentication plays an important aspect in cloud computing and ubiquitous computing. Trust management has been identified as vital component for establishing and maintaining successful relational exchanges between trading partners in cloud and ubiquitous systems. Establishing trust is the way to build good relationship with both client and provider which positive activates will increase trust level, otherwise destroy trust immediately. We propose a new context-aware authentication system using a trust management system between client and server, and between servers, a trust which induces partnership, thus to a close cooperation between these servers. We defined the rules (algorithms), as well as the formulas to manage and calculate the trusting degrees depending on context, in order to uniquely authenticate a user, thus a single sign-on, and to provide him better services.

Keywords: Ubiquitous computing, context-awareness, authentication, trust management.

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Authors: Amir Khalid, B. Manshoor

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The mixture formation prior to the ignition process plays as a key element in the diesel combustion. Parametric studies of mixture formation and ignition process in various injection parameter has received considerable attention in potential for reducing emissions. Purpose of this study is to clarify the effects of injection pressure on mixture formation and ignition especially during ignition delay period, which have to be significantly influences throughout the combustion process and exhaust emissions. This study investigated the effects of injection pressure on diesel combustion fundamentally using rapid compression machine. The detail behavior of mixture formation during ignition delay period was investigated using the schlieren photography system with a high speed camera. This method can capture spray evaporation, spray interference, mixture formation and flame development clearly with real images. Ignition process and flame development were investigated by direct photography method using a light sensitive high-speed color digital video camera. The injection pressure and air motion are important variable that strongly affect to the fuel evaporation, endothermic and prolysis process during ignition delay. An increased injection pressure makes spray tip penetration longer and promotes a greater amount of fuel-air mixing occurs during ignition delay. A greater quantity of fuel prepared during ignition delay period thus predominantly promotes more rapid heat release.

Keywords: Mixture Formation, Diesel Combustion, Ignition Process, Spray, Rapid Compression Machine.

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Authors: A. Ouargui, N. Belouaggadia, M. Ezzine

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In Morocco, the building sector is largely responsible for the evolution of energy consumption. The control of energy in this sector remains a major issue despite the rise of renewable energies. The design of an environmentally friendly building requires mastery and knowledge of energy and bioclimatic aspects. This implies taking into consideration of all the elements making up the building and the way in which energy exchanges take place between these elements. In this context, thermal insulation seems to be an ideal starting point for reducing energy consumption and greenhouse gas emissions. In this context, thermal insulation seems to be an ideal starting point for reducing energy consumption and greenhouse gas emissions. The aim of this work is to provide some solutions to reduce energy consumption while maintaining thermal comfort in the building. The objective of our work is to present an experimental study on the characterization of local materials used in the thermal insulation of buildings. These are paper recycling stabilized with cement and clay. The thermal conductivity of these materials, which were constituted based on sand, clay, cement; water, as well as treated paper, was determined by the guarded-hot-plate method. It involves the design of two materials that will subsequently be subjected to thermal and mechanical tests to determine their thermophysical properties. The results show that the thermal conductivity decreases as well in the case of the paper-cement mixture as that of the paper-clay and seems to stabilize around 40%. Measurements of mechanical properties such as flexural strength have shown that the enrichment of the studied material with paper makes it possible to reduce the flexural strength by 20% while optimizing the conductivity.

Keywords: Building, composite material, insulation, thermal conductivity, paper residue.

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Authors: Derek Wardle, Tarik Al-Shemmeri, Neil Packer

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This paper presents a small tube/wire type electrostatic precipitator (ESP). In the ESPs present form, particle charging and collecting voltages and airflow rates were individually varied throughout 200 ambient temperature test runs ranging from 10 to 30 kV in increments on 5 kV and 0.5 m/s to 1.5 m/s, respectively. It was repeatedly observed that, at input air velocities of between 0.5 and 0.9 m/s and voltage settings of 20 kV to 30 kV, the collection efficiency remained above 95%. The outcomes of preliminary tests at combustion flue temperatures are, at present, inconclusive although indications are that there is little or no drop in comparable performance during ideal test conditions. A limited set of similar tests was carried out during which the collecting electrode was grounded, having been disconnected from the static generator. The collecting efficiency fell significantly, and for that reason, this approach was not pursued further. The collecting efficiencies during ambient temperature tests were determined by mass balance between incoming and outgoing dry PM. The efficiencies of combustion temperature runs are determined by analysing the difference in opacity of the flue gas at inlet and outlet compared to a reference light source. In addition, an array of Leit tabs (carbon coated, electrically conductive adhesive discs) was placed at inlet and outlet for a number of four-day continuous ambient temperature runs. Analysis of the discs’ contamination was carried out using scanning electron microscopy and ImageJ computer software that confirmed collection efficiencies of over 99% which gave unequivocal support to all the previous tests. The average efficiency for these runs was 99.409%. Emissions collected from a woody biomass combustion unit, classified to a diameter of 100 µm, were used in all ambient temperature trials test runs apart from two which collected airborne dust from within the laboratory. Sawdust and wood pellets were chosen for laboratory and field combustion trials. Video recordings were made of three ambient temperature test runs in which the smoke from a wood smoke generator was drawn through the precipitator. Although these runs were visual indicators only, with no objective other than to display, they provided a strong argument for the device’s claimed efficiency, as no emissions were visible at exit when energised.  The theoretical performance of ESPs, when applied to the geometry and configuration of the tested model, was compared to the actual performance and was shown to be in good agreement with it.

Keywords: Electrostatic precipitators, air quality, particulates emissions, electron microscopy, ImageJ.

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Authors: Shu-Ning Liou

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The main purpose of this study was to establish Professional Competency Contents for International Marketer in Taiwan. To establish these contents a set of interviews with international marketing managers and three rounds of Delphi Technique surveys were employed. Five international marketing managers were interviewed for discussions on definitions, framework, and items of international marketing competency. A questionnaire for the " Delphi Technique Survey " was developed based on the results acquired from the interviews. The resulting questionnaire was distributed to another group of 30 international marketer of trading companies in Taiwan. After three rounds of Delphi Technique Survey with these participants, the "Contents of Professional Competency for International Marketer " was established. Five dimensions and thirty indicators were identified. It is hoped that the proposed contents could be served as a self-evaluation tool for international marketer as well as the basis for staffing and training programs for international marketer in Taiwan.

Keywords: Professional competency, International marketer, Delphi technique

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Authors: Chih-Hsiang Chang, Pei-Shan Kao

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This paper discusses the reaction of investors in the Taiwan stock market to the most probable unknown earnings-related information and the most probable known earnings-related information. As compared with the previous literature regarding the effect of an official announcement of earnings forecast revision, this paper further analyzes investors’ cognitive bias toward the unknown and known earnings-related information, and the role of media during the investors' reactions to the foresaid information shocks. The empirical results show that both the unknown and known earnings-related information provides useful information content for a stock market. In addition, cognitive bias and disposition effect are the behavioral pitfalls that commonly occur in the process of the investors' reactions to the earnings-related information. Finally, media coverage has a remarkable influence upon the investors' trading decisions.

Keywords: Cognitive bias, role of media, disposition effect, earnings-related information, behavioral pitfall.

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Authors: Chinwendu R. Nnabalu, Gioia Falcone, Imma Bortone

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Petroleum refining is a chemical process in which the raw material (crude oil) is converted to finished commercial products for end users. The fluid catalytic cracking (FCC) unit is a key asset in refineries, requiring optimised processes in the context of engineering design. Following the first stage of separation of crude oil in a distillation tower, an additional 40 per cent quantity is attainable in the gasoline pool with further conversion of the downgraded product of crude oil (residue from the distillation tower) using a catalyst in the FCC process. Effective removal of sulphur oxides, nitrogen oxides, carbon and heavy metals from FCC gasoline requires greater separation efficiency and involves an enormous environmental significance. The FCC unit is primarily a reactor and regeneration system which employs cyclone systems for separation.  Catalyst losses in FCC cyclones lead to high particulate matter emission on the regenerator side and fines carryover into the product on the reactor side. This paper aims at demonstrating the importance of FCC unit design criteria in terms of technical performance and compliance with environmental legislation. A systematic review of state-of-the-art FCC technology was carried out, identifying its key technical challenges and sources of emissions.  Case studies of petroleum refineries in Nigeria were assessed against selected global case studies. The review highlights the need for further modelling investigations to help improve FCC design to more effectively meet product specification requirements while complying with stricter environmental legislation.

Keywords: Design, emissions, fluid catalytic cracking, petroleum refineries.

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Authors: J. P. Chica Cano, G. Cabot, S. de Persis, F. Foucher

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Among all possibilities to combat global warming, CO₂ capture and sequestration (CCS) is presented as a great alternative to reduce greenhouse gas (GHG) emission. Several strategies for CCS from industrial and power plants are being considered. The concept of combined oxy-fuel combustion has been the most alternative solution. Nevertheless, due to the high cost of pure O₂ production, additional ways recently emerged. In this paper, an innovative combustion process for a gas turbine cycle was studied: it was composed of methane combustion with oxygen enhanced air (OEA), exhaust gas recirculation (EGR) and H₂O issuing from STIG (Steam Injection Gas Turbine), and the CO₂ capture was realized by membrane separator. The effect on this combustion process was emphasized, and it was shown that a study of the influence of H₂O dilution on the combustion parameters by experimental and numerical approaches had to be carried out. As a consequence, the laminar burning velocities measurements were performed in a stainless steel spherical combustion from atmospheric pressure to high pressure (up to 0.5 MPa), at 473 K for an equivalence ratio at 1. These experimental results were satisfactorily compared with Chemical Workbench v.4.1 package in conjunction with GRIMech 3.0 reaction mechanism. The good correlations so obtained between experimental and calculated flame speed velocities showed the validity of the GRIMech 3.0 mechanism in this domain of combustion: high H₂O dilution, low N₂, medium pressure. Finally, good estimations of flame speed and pollutant emissions were determined in other conditions compatible with real gas turbine. In particular, mixtures (composed of CH₄/O₂/N₂/H₂O/ or CO₂) leading to the same adiabatic temperature were investigated. Influences of oxygen enrichment and H₂O dilution (compared to CO₂) were disused.

Keywords: CO2 capture, oxygen enrichment, water dilution, laminar burning velocity, pollutants emissions.

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Authors: Hachaichi Mohamed Nour El-Islem, Baouni Tahar

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Environmental sustainability rather than a trans-disciplinary and a scientific issue, is the main problem that characterizes all modern cities nowadays. In developing countries, this concern is expressed in a plethora of critical urban ills: traffic congestion, air pollution, noise, urban decay, increase in energy consumption and CO₂ emissions which blemish cities’ landscape and might threaten citizens’ health and welfare. As in the same manner as developing world cities, the rapid growth of Algiers’ human population and increasing in city scale phenomena lead eventually to increase in daily trips, energy consumption and CO₂ emissions. In addition, the lack of proper and sustainable planning of the city’s infrastructure is one of the most relevant issues from which Algiers suffers. The aim of this contribution is to estimate the carbon deficit of the City of Algiers, Algeria, using the Ecological Footprint Model (carbon footprint). In order to achieve this goal, the amount of CO₂ from fuel combustion has been calculated and aggregated into five sectors (agriculture, industry, residential, tertiary and transportation); as well, Algiers’ biocapacity (CO₂ uptake land) has been calculated to determine the ecological overshoot. This study shows that Algiers’ transport system is not sustainable and is generating more than 50% of Algiers total carbon footprint which cannot be sequestered by the local forest land. The aim of this research is to show that the Carbon Footprint Assessment might be a relevant indicator to design sustainable strategies/policies striving to reduce CO₂ by setting in motion the energy consumption in the transportation sector and reducing the use of fossil fuels as the main energy input.

Keywords: Biocapacity, carbon footprint, ecological footprint assessment, energy consumption.

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Authors: Chih-Hsiang Chang, Fang-Jyun Su

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This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.

Keywords: Stock characteristics, herding formation, investment decision, US equity market, lead-lag relationship.

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Authors: Mahdiyeh Zafaranchi

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With rapid development of urbanization and improvement of living standards in the world, energy consumption and carbon emissions of the building sector are expected to increase in the near future; because of that, energy-saving issues have become more important among the engineers. Besides, the building sector is a major contributor to energy consumption and carbon emissions. The concept of efficient building appeared as a response to the need for reducing energy demand in this sector which has the main purpose of shifting from standard buildings to low-energy buildings. Although energy-saving should happen in all steps of a building during the life cycle (material production, construction, demolition), the main concept of efficient energy building is saving energy during the life expectancy of a building by using passive and active systems, and should not sacrifice comfort and quality to reach these goals. The main aim of this study is to investigate passive strategies (do not need energy consumption or use renewable energy) to achieve energy-efficient buildings. Energy retrofit measures were explored by eQuest software using a case study as a base model. The study investigates predictive accuracy for the major factors like thermal transmittance (U-value) of the material, windows, shading devices, thermal insulation, rate of the exposed envelope, window/wall ration, lighting system in the energy consumption of the building. The base model was located in Istanbul, Turkey. The impact of eight passive parameters on energy consumption had been indicated. After analyzing the base model by eQuest, a final scenario was suggested which had a good energy performance. The results showed a decrease in the U-values of materials, the rate of exposing buildings, and windows had a significant effect on energy consumption. Finally, savings in electric consumption of about 10.5%, and gas consumption by about 8.37% in the suggested model were achieved annually.

Keywords: Efficient building, electric and gas consumption, eQuest, passive parameters.

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Authors: Jamil Hijazi, Stirling Howieson

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Reducing energy consumption and CO₂ emissions are probably the greatest challenge now facing mankind. From considerations surrounding global warming and CO₂ production, it has to be recognized that oil is a finite resource and the KSA like many other oil-rich countries will have to start to consider a horizon where hydro-carbons are not the dominant energy resource. The employment of hybrid ground-cooling pipes in combination with the black body solar collection and radiant night cooling systems may have the potential to displace a significant proportion of oil currently used to run conventional air conditioning plant. This paper presents an investigation into the viability of such hybrid systems with the specific aim of reducing cooling load and carbon emissions while providing all year-round thermal comfort in a typical Saudi Arabian urban housing block. Soil temperatures were measured in the city of Jeddah. A parametric study then was carried out by computational simulation software (DesignBuilder) that utilized the field measurements and predicted the cooling energy consumption of both a base case and an ideal scenario (typical block retro-fitted with insulation, solar shading, ground pipes integrated with hypocaust floor slabs/stack ventilation and radiant cooling pipes embed in floor). Initial simulation results suggest that careful ‘ecological design’ combined with hybrid radiant and ground pipe cooling techniques can displace air conditioning systems, producing significant cost and carbon savings (both capital and running) without appreciable deprivation of amenity.

Keywords: Cooling load, energy efficiency, ground pipe cooling, hybrid cooling strategy, hydronic radiant systems, low carbon emission, passive designs, thermal comfort.

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Authors: L. Della Ragione, G. Meccariello

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In recent years in Italy the progress of the automobile industry, in the field of reduction of emissions values, is very remarkable. Nevertheless their evaluation and reduction is a key problem, especially in the cities, that account for more than 50% of world population. In this paper we dealt with the problem of describing a quantitatively approach for the reconstruction of GPS coordinates and altitude, in the context of correlation study between driving cycles / emission / geographical location, during an experimental campaign realized with some instrumented cars.

Keywords: Air pollution, Driving cycles, GPS signal.

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Authors: Andrea Palazzo, Daniel Macek, Veronika Malinova

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Contour processing is the new technology challenge for architects and construction companies. The many advantages it promises make it one of the most interesting solutions for construction in terms of automation of building processes. The technology for 3D printing houses offers many application possibilities, from low-cost construction, to being considered by NASA for visionary projects as a good solution for building settlements on other planets. Another very important point is that clients, as architects, will no longer have many limits in design concerning ideas and creativity. The prices for real estate are constantly increasing and the lack of availability of construction materials as well as the speculation that has been created around it in 2021 is bringing prices to such a level that in the future it will be difficult for developers to find customers for these ultra-expensive homes. Hence, this paper starts with the introduction of 3D printing, which now has the potential to gain an important position in the market, becoming a valid alternative to the classic construction process. This technology is not only beneficial from an economic point of view but it is also a great opportunity to have an impact on the environment by reducing CO2 emissions. Further on in the article we will also understand if, after the COP 26 (2021 United Nations Climate Change Conference), world governments could also push towards building technologies that reduce the waste materials that are needed to be disposed of and at the same time reduce emissions with the contribution of governmental funds. This paper will give us insight on the multiple benefits of 3D printing and emphasize the importance of finding new solutions for materials that can be used by the printer. Therefore, based on the type of material, it will be possible to understand the compatibility with current regulations and how the authorities will be inclined to support this technology. This will help to enable the rise and development of this technology in Europe and in the rest of the world on actual housing projects and not only on prototypes.

Keywords: Additive manufacturing, building development building regulation, contour crafting, printing material.

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Authors: U. Şendurur, B. Nazlıoğlu

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Using Turkish data, in this study it is investigated that whether a firm’s ownership structure has an impact on its stock prices after the crisis. A linear regression model is conducted on the data of non-financial firms that are trading in Istanbul Stock Exchange 100 Index (ISE 100) index. The findings show that, all explanatory variables such as inside ownership, largest ownership, concentrated ownership, foreign shareholders, family controlled and dispersed ownership are not very important to explain stock prices after the crisis. Family controlled firms and concentrated ownership is positively related to stock price, dispersed ownership, largest ownership, foreign shareholders, and inside ownership structures have negative interaction between stock prices, but because of the p value is not under the value of 0.05 this relation is not significant. In addition, the analysis shows that, the shares of firms that have inside, largest and dispersed ownership structure are outperform comparing with the other firms. Furthermore, ownership concentrated firms outperform to family controlled firms.

Keywords: Financial crisis, ISE 100 Index, Ownership structure, Stock price.

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Authors: Chava Sunil Kumar, P.S. Subrahmanyan, J. Amarnath

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In this paper variation of spot price and total profits of the generating companies- through wholesale electricity trading are discussed with and without Central Generating Stations (CGS) share and seasonal variations are also considered. It demonstrates how proper analysis of generators- efficiencies and capabilities, types of generators owned, fuel costs, transmission losses and settling price variation using the solutions of Optimal Power Flow (OPF), can allow companies to maximize overall revenue. It illustrates how solutions of OPF can be used to maximize companies- revenue under different scenarios. And is also extended to computation of Available Transfer Capability (ATC) is very important to the transmission system security and market forecasting. From these results it is observed that how crucial it is for companies to plan their daily operations and is certainly useful in an online environment of deregulated power system. In this paper above tasks are demonstrated on 124 bus real-life Indian utility power system of Andhra Pradesh State Grid and results have been presented and analyzed.

Keywords: OPF, ATC, Electricity Market, Bid, Spot Price

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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: A. A. K. Abou-Arab, M. A. Abou Donia, Nevin E. Sharaf, Sherif R. Mohamed, A. K. Enab

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Lead being a toxic heavy metal that mankind is exposed to the highest levels of this metal from environmental pollutants. A total of 180 Male scalp hair samples were collected from different environments in Greater Cairo (GC), i.e. industrial, heavy traffic and rural areas (60 samples from each) having different activities during the period of, 1/5/2010 to 1/11/2012. Hair samples were collected during five stages. Data proved that the concentration of lead in male industrial areas of Cairo ranged between 6.2847 to 19.0432 μg/g, with mean value of 12.3288 μg/g. On the other hand, lead content of hair samples of residential-traffic areas ranged between 2.8634 to 16.3311 μg/g with mean value of 9.7552 μg/g. While lead concentration on the hair of the male residents living in rural area ranged between 1.0499-9.0402μg/g with mean value of 4.7327 μg/g. The Pb concentration in scalp hair of Cairo residents of residential-traffic and rural traffic areas was observed to follow the same pattern. The pattern was that of decrease concentration of summer and its increase in winter. Then, there was a marked increase in Pb concentration of summer 2012, and this increase was significant. These were obviously seen for the residential-traffic and rural areas residents. Pb pollution in residents of industrial areas showed the same seasonal pattern, but there was marked to decrease in Pb concentration of summer 2012, and this decrease was significant. Lead pollution in residents of GC was serious. It is worth noting that the atmosphere is still contaminated by lead despite a decade of using unleaded gasoline. Strong seasonal variation in higher Pb concentration on winter than in summer was found. Major contributions to the pollution with Pb could include industry emissions, motor vehicle emissions and long transported dust from outside Cairo. More attention should be paid to the reduction of Pb content of the urban aerosol and to the Pb pollution health.

Keywords: Hair, lead, environmental exposure, seasonal variations, Egypt.

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Authors: Aida Amirazodi

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"Bazaar" is a Persian word from the language of Iranians of 2500 years ago which has entered the languages of other countries. “Bazaar", the trading or marketing place with the architectural principles and concerns, was formed in Iran because of the long experience of marketing. This has become a valuable inheritance of Islamic ideological civilization and Iranian advanced architecture and a model of Islamic-marketing places with spectacular elements and parts, and the place for economical, social and cultural exchanges. “Bazaars" are found in cities of Iran and many Islamic countries in west of Asia and north of Africa. With the stable structure and function as a symbol of social values, this place has become the economic center and the illustration of stable architecture and advanced principles. “Bazaars" as the heart of Iranian cities economy with several major and minor rows of shops, in closed and open areas, along a fixed line or branches with beautiful arcs, patios, and frameworks are among the main national inheritance of Iran and one of the important Iranian architectural treasures because of its Iranian nobility.

Keywords: Traditional Bazaar, Form of Bazaar, Iranian Architecture

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Authors: Guarry Montrose, Ted Soubdhan

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In the context of sustainable development and climate change, the adaptation of buildings to the climatic context in hot climates is a necessity if we want to improve living conditions in housing and reduce the risks to the health and productivity of occupants due to thermal discomfort in buildings. One can find a wide variety of efficient solutions but with high costs. In developing countries, especially tropical countries, we need to appreciate a technology with a very limited cost that is affordable for everyone, energy efficient and protects the environment. Biosourced insulation is a product based on plant fibers, animal products or products from recyclable paper or clothing. Their development meets the objectives of maintaining biodiversity, reducing waste and protecting the environment. In tropical or hot countries, the aim is to protect the building from solar thermal radiation, a source of discomfort. The aim of this work is in line with the logic of energy control and environmental protection, the approach is to make the occupants of buildings comfortable, reduce their carbon dioxide emissions (CO₂) and decrease their energy consumption (energy efficiency). We have chosen to study the thermo-physical properties of banana leaves and sawdust, especially their thermal conductivities, direct measurements were made using the flash method and the hot plate method. We also measured the heat flow on both sides of each sample by the hot box method. The results from these different experiences show that these materials are very efficient used as insulation. We have also conducted a building thermal simulation using banana leaves as one of the materials under Design Builder software. Air-conditioning load as well as CO₂ release was used as performance indicator. When the air-conditioned building cell is protected on the roof by banana leaves and integrated into the walls with solar protection of the glazing, it saves up to 64.3% of energy and avoids 57% of CO₂ emissions.

Keywords: Plant fibers, tropical climates, sustainable development, waste reduction.

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Authors: Petr Seďa

Abstract:

This paper deals with heterogeneous autoregressive models of realized volatility (HAR-RV models) on high-frequency data of stock indices in the USA. Its aim is to capture the behavior of three groups of market participants trading on a daily, weekly and monthly basis and assess their role in predicting the daily realized volatility. The benefits of this work lies mainly in the application of heterogeneous autoregressive models of realized volatility on stock indices in the USA with a special aim to analyze an impact of the global financial crisis on applied models forecasting performance. We use three data sets, the first one from the period before the global financial crisis occurred in the years 2006-2007, the second one from the period when the global financial crisis fully hit the U.S. financial market in 2008-2009 years, and the last period was defined over 2010-2011 years. The model output indicates that estimated realized volatility in the market is very much determined by daily traders and in some cases excludes the impact of those market participants who trade on monthly basis.

Keywords: Global financial crisis, heterogeneous autoregressive model, in-sample forecast, realized volatility, U.S. stock market.

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Authors: Nanh Lovanh, John Loughrin, Kimberly Cook, Phil Silva, Byung-Taek Oh

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In the era of sustainability, utilization of livestock wastes as soil amendment to provide micronutrients for crops is very economical and sustainable. It is well understood that livestock wastes are comparable, if not better, nutrient sources for crops as chemical fertilizers. However, the large concentrated volumes of animal manure produced from livestock operations and the limited amount of available nearby agricultural land areas necessitated the need for volume reduction of these animal wastes. Composting of these animal manures is a viable option for biomass and pathogenic reduction in the environment. Nevertheless, composting also increases the potential loss of available nutrients for crop production as well as unwanted emission of anthropogenic air pollutants due to the loss of ammonia and other compounds via volatilization. In this study, we examine the emission of ammonia and nitrous oxide from swine manure windrows to evaluate the benefit of biomass reduction in conjunction with the potential loss of available nutrients. The feedstock for the windrows was obtained from swine farm in Kentucky where swine manure was mixed with wood shaving as absorbent material. Static flux chambers along with photoacoustic gas analyzer were used to monitor ammonia and nitrous oxide concentrations during the composting process. The results show that ammonia and nitrous oxide fluxes were quite high during the initial composting process and after the turning of each compost pile. Over the period of roughly three months of composting, the biochemical oxygen demand (BOD) decreased by about 90%. Although composting of animal waste is quite beneficial for biomass reduction, composting may not be economically feasible from an agronomical point of view due to time, nutrient loss (N loss), and potential environmental pollution (ammonia and greenhouse gas emissions). Therefore, additional studies are needed to assess and validate the economics and environmental impact of animal (swine) manure composting (e.g., crop yield or impact on climate change).

Keywords: Windrow, swine manure, ammonia, nitrous oxide, fluxes, management.

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Authors: Chun Chen Yea, Wen Huei Chou

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Many chemical changes in the atmosphere and the ocean are invisible to the naked eye, but they have profound impacts. These changes not only confirm the phenomenon of global carbon pollution, but also forewarn that more changes are coming. The carbon dioxide gases emitted from the burning of fossil fuels dissolve into the ocean and chemically react with seawater to form carbonic acid, which increases the acidity of the originally alkaline seawater. This gradual acidification is occurring at an unprecedented rate and will affect the effective formation of carapace of some marine organisms such as corals and crustaceans, which are almost entirely composed of calcium carbonate. The carapace of these organisms will become more dissoluble. Acidified seawater not only threatens the survival of marine life, but also negatively impacts the global ecosystem via the food chain. Faced with the threat of ocean acidification, all humans are duty-bound. The industrial sector outputs the highest level of carbon dioxide emissions in Taiwan, and the petrochemical industry is the major contributor. Ever since the construction of Formosa Plastics Group's No. 6 Naphtha Cracker Plant in Yunlin County, there have been many environmental concerns such as air pollution and carbon dioxide emission. The marine life along the coast of Yunlin is directly affected by ocean acidification arising from the carbon emissions. Societal change demands our willingness to act, which is what social advocacy promotes. This study uses digital storytelling for social advocacy and ocean acidification as the subject of a visual narrative in visualization to demonstrate the subsequent promotion of social advocacy. Storytelling can transform dull knowledge into an engaging narrative of the crisis faced by marine life. Digital dissemination is an effective social-work practice. The visualization promoting awareness on ocean acidification disseminated via social media platforms, such as Facebook and Instagram. Social media enables users to compose their own messages and share information across different platforms, which helps disseminate the core message of social advocacy.

Keywords: Digital storytelling, visualization, ocean acidification, social advocacy.

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Authors: Cynthia Sau Chun Yip, Richard Fielding

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High meat and especially red meat intakes are significantly and positively associated with a multiple burden of diseases and also high greenhouse gas (GHG) emissions. This study investigated population meat intake patterns in Hong Kong. It quantified the burden of disease and GHG emission outcomes by modeling to adjust Hong Kong population meat intakes to recommended healthy levels. It compared age- and sex-specific population meat, fruit and vegetable intakes obtained from a population survey among adults aged 20 years and over in Hong Kong in 2005-2007, against intake recommendations suggested in the Modelling System to Inform the Revision of the Australian Guide to Healthy Eating (AGHE-2011-MS) technical document. This study found that meat and meat alternatives, especially red meat intakes among Hong Kong males aged 20+ years and over are significantly higher than recommended. Red meat intakes among females aged 50-69 years and other meat and alternatives intakes among aged 20-59 years are also higher than recommended. Taking the 2005-07 age- and sex-specific population meat intake as baselines, three counterfactual scenarios of adjusting Hong Kong adult population meat intakes to AGHE-2011-MS and Pre-2011 AGHE recommendations by the year 2030 were established. Consequent energy intake gaps were substituted with additional legume, fruit and vegetable intakes. To quantify the consequent GHG emission outcomes associated with Hong Kong meat intakes, Cradle-to-ready-to-eat lifecycle assessment emission outcome modelling was used. Comparative risk assessment of burden of disease model was used to quantify the health outcomes. This study found adjusting meat intakes to recommended levels could reduce Hong Kong GHG emission by 17%-44% when compared against baseline meat intake emissions, and prevent 2,519 to 7,012 premature deaths in males and 53 to 1,342 in females, as well as multiple burden of diseases when compared to the baseline meat intake scenario. Comparing lump sum meat intake reduction and outcome measures across the entire population, and using emission factors, and relative risks from individual studies in previous co-benefit studies, this study used age- and sex-specific input and output measures, emission factors and relative risks obtained from high quality meta-analysis and meta-review respectively, and has taken government dietary recommendations into account. Hence evaluations in this study are of better quality and more reflective of real life practices. Further to previous co-benefit studies, this study pinpointed age- and sex-specific population and meat-type-specific intervention points and leverages. When compared with similar studies in Australia, this study also showed that intervention points and leverages among populations in different geographic and cultural background could be different, and that globalization also globalizes meat consumption emission effects. More regional and cultural specific evaluations are recommended to promote more sustainable meat consumption and enhance global food security.

Keywords: Burden of diseases, greenhouse gas emissions, Hong Kong diet, sustainable meat consumption.

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