Search results for: Deregulated energy market

Authors: Anirban Chowdhury, Sougata Karmakar, Swathi Matta Reddy, Sanjog J., Subrata Ghosh, Debkumar Chakrabarti

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Brand name plays a vital role for in-shop buying behavior of consumers and mutated brand name may affect the selling of leading branded products. In Indian market, there are many products with mutated brand names which are either orthographically or phonologically similar. Due to presence of such products, Indian consumers very often fall under confusion when buying some regularly used stuff. Authors of the present paper have attempted to demonstrate relationship between less attention and false recognition of mutated brand names during a product selection process. To achieve this goal, visual attention study was conducted on 15 male college students using eye-tracker against a mutated brand name and errors in recognition were noted using questionnaire. Statistical analysis of the acquired data revealed that there was more false recognition of mutated brand name when less attention was paid during selection of favorite product. Moreover, it was perceived that eye tracking is an effective tool for analyzing false recognition of brand name mutation.

Keywords: Brand Name Mutation, Consumer Behavior, Visual Attention, Orthography

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Authors: M. Jalali Azizpour, D. Sajedipour, H. Mohammadi Majd, M.R. Tahmasbi Birgani, M.Rabiae

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An explicit axisymmetrical FE methodology is developed here to study the particle temperature arising in WC-Co particle on an AISI 1045 steel substrate. Parameters of constitutive Johnson-cook model were used for simulation. The results show that particle velocity and kinetic energy have important role in temperature arising of particles.

Keywords: FEM, HVOF, Interfacial Temperature, Splat

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Authors: Pakawhat Khumkhreung, Yottana Khunatorn

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The flow pattern inside rectangular intake air duct of 300 MW lignite coal-fired power plant is investigated in order to analyze and reduce overall inlet system pressure drop. The system consists of the 45-degree inlet elbow, the flow instrument, the 90-degree mitered elbow and fans, respectively. The energy loss in each section can be determined by Bernoulli’s equation and ASHRAE standard table. Hence, computational fluid dynamics (CFD) is used in this study based on Navier-Stroke equation and the standard k-epsilon turbulence modeling. Input boundary condition is 175 kg/s mass flow rate inside the 11-m² cross sectional duct. According to the inlet air flow rate, the Reynolds number of airstream is 2.7x10⁶ (based on the hydraulic duct diameter), thus the flow behavior is turbulence. The numerical results are validated with the real operation data. It is found that the numerical result agrees well with the operating data, and dominant loss occurs at the flow rate measurement device. Normally, the air flow rate is measured by the airfoil and it gets high pressure drop inside the duct. To overcome this problem, the airfoil is planned to be replaced with the other type measuring instrument, such as the average pitot tube which generates low pressure drop of airstream. The numerical result in case of average pitot tube shows that the pressure drop inside the inlet airstream duct is decreased significantly. It should be noted that the energy consumption of inlet air system is reduced too.

Keywords: Airfoil, average pitot tube, combustion air, CFD, pressure drop, rectangular duct.

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Authors: Javed Y. Uppal

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The background of this study is the great degree of stress that the world is experiencing today, internationally among the countries, within a community among people, and even individually within one’s own self. The significance of the study is the attempt to find a solution of this stress in the philosophy of the olden times of Jalaluddin Rumi and comparatively recently of that of Allama Iqbal. The methodology adopted in this paper is firstly exploration of the perspectives of these philosophers that are being consolidated by a number of psychic and spiritual experts of today, who are being widely read but less followed. This paper further goes on presenting brief life sketches of Rumi and Iqbal. It expounds the key concepts proposed by them and the social change that was resulted in the times of the two above mentioned metaphysical philosophers. It is further amplified that with the recent advancements, in both metaphysics and the physical sciences, the gap between the two is closing down. Both Rumi and Iqbal emphasized their common essence. The old time's concepts, postulates, and philosophies are hence once again becoming valid. The findings of this paper are that the existence of human empathy, affection and mutual social attraction among humans is still valid. The positive inner belief system that dictates our thoughts and actions is vital. As a conclusion, empathy should enable us solving our problems collectively. We need to strengthen our inner communication system, to listen to the messages that come to our inner-selves. We need to get guidance and strength from them. We need to value common needs and purposes collectively to achieve results. Spiritual energy among us is to be harnessed and utilized. Connectivity is to be recognized to unify and strengthen ties among people. Mutual bonding at small and large group levels is to be employed for the survival of the disadvantaged, and sustainability of the empowering trends. With the above guidelines, hopefully, we can define a framework towards a brave and happy new humane world.

Keywords: Belief system, connectivity, human empathy, inner-self, mutual bonding, spiritual energy.

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Authors: T. O. Olwal, K. Djouani, B. J. van Wyk, Y. Hamam, P. Siarry

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Multi-Radio Multi-Channel Wireless Mesh Networks (MRMC-WMNs) operate at the backbone to access and route high volumes of traffic simultaneously. Such roles demand high network capacity, and long “online" time at the expense of accelerated transmission energy depletion and poor connectivity. This is the problem of transmission power control. Numerous power control methods for wireless networks are in literature. However, contributions towards MRMC configurations still face many challenges worth considering. In this paper, an energy-efficient power selection protocol called PMMUP is suggested at the Link-Layer. This protocol first divides the MRMC-WMN into a set of unified channel graphs (UCGs). A UCG consists of multiple radios interconnected to each other via a common wireless channel. In each UCG, a stochastic linear quadratic cost function is formulated. Each user minimizes this cost function consisting of trade-off between the size of unification states and the control action. Unification state variables come from independent UCGs and higher layers of the protocol stack. The PMMUP coordinates power optimizations at the network interface cards (NICs) of wireless mesh routers. The proposed PMMUP based algorithm converges fast analytically with a linear rate. Performance evaluations through simulations confirm the efficacy of the proposed dynamic power control.

Keywords: Effective band inference based power control algorithm (EBIA), Power Selection MRMC Unification Protocol (PMMUP), MRMC State unification Variable Prediction (MRSUP), Wireless Mesh Networks (WMNs).

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Authors: Luis F. Beltrán-Morales, Dalia Bali Cohen, Enrique Troyo-Diéguez, Gerzaín Avilés Polanco, Victor Sevilla Unda

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This study aims to assess the potential of solar energy technology for improving access to water and hence the livelihood strategies of rural communities in Baja California Sur, Mexico. It focuses on livestock ranches and photovoltaic water-pumptechnology as well as other water extraction methods. The methodology used are the Sustainable Livelihoods and the Appropriate Technology approaches. A household survey was applied in June of 2006 to 32 ranches in the municipality, of which 22 used PV pumps; and semi-structured interviews were conducted. Findings indicate that solar pumps have in fact helped people improve their quality of life by allowing them to pursue a different livelihood strategy and that improved access to water -not necessarily as more water but as less effort to extract and collect it- does not automatically imply overexploitation of the resource; consumption is based on basic needs as well as on storage and pumping capacity. Justification for such systems lies in the avoidance of logistical problems associated to fossil fuels, PV pumps proved to be the most beneficial when substituting gasoline or diesel equipment but of dubious advantage if intended to replace wind or gravity systems. Solar water pumping technology-s main obstacle to dissemination are high investment and repairs costs and it is therefore not suitable for all cases even when insolation rates and water availability are adequate. In cases where affordability is not an obstacle it has become an important asset that contributes –by means of reduced expenses, less effort and saved time- to the improvement of livestock, the main livelihood provider for these ranches.

Keywords: Solar Pumps, Water Security, Livestock Ranches, Sustainable Livelihoods.

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Authors: Khaled M. Khader, Mamdouh I. Elimy

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Reducing energy consumption became the major concern for all countries of the world during the recent decades. In general, power saving is currently the nominal goal of most industrial countries. It is well known that fossil fuels are the main pillar of development of world countries. Unfortunately, the increased rate of fossil fuel consumption will lead to serious problems caused by an expected depletion of fuels. Moreover, dangerous gases and vapors emission lead to severe environmental problems during fuel burning. Consequently, most engineering sectors especially the mechanical sectors are looking for improving any machine accompanied by reducing its energy consumption. Crank-Rocker planar mechanism is the most applied in mechanical systems. Besides, it is one of the most significant parts of the machines for obtaining the oscillatory motion. The transmission angle of this mechanism can be considered as an optimum value when its extreme values are equally varied around 90°. In addition, the transmission angle plays an important role in decreasing the required driving power and improving the dynamic properties of the mechanism. Hence, appropriate selection of mechanism links lengthens, which assures optimum transmission angle leads to decreasing the driving power. Moreover, mechanism's links manufactured from composite materials afford link's lightweight, which decreases the required driving torque. Furthermore, wear and corrosion problems can be treated through using composite links instead of using metal ones. This paper is dealing with improving the performance of crank-rocker mechanism using composite links due to their flexural elastic modulus values and stiffness in addition to high damping of composite materials.

Keywords: Composite material, crank-rocker mechanism, transmission angle, design techniques, power saving.

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Authors: Guoyuan Qi , Yskandar Hamam, Barend Jacobus van Wyk, Shengzhi Du

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The majority of existing predictors for time series are model-dependent and therefore require some prior knowledge for the identification of complex systems, usually involving system identification, extensive training, or online adaptation in the case of time-varying systems. Additionally, since a time series is usually generated by complex processes such as the stock market or other chaotic systems, identification, modeling or the online updating of parameters can be problematic. In this paper a model-free predictor (MFP) for a time series produced by an unknown nonlinear system or process is derived using tracking theory. An identical derivation of the MFP using the property of the Newton form of the interpolating polynomial is also presented. The MFP is able to accurately predict future values of a time series, is stable, has few tuning parameters and is desirable for engineering applications due to its simplicity, fast prediction speed and extremely low computational load. The performance of the proposed MFP is demonstrated using the prediction of the Dow Jones Industrial Average stock index.

Keywords: Forecast, model-free predictor, prediction, time series

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Authors: Luciana C. Azevedo, Reinaldo S. Dantas, Antonio G. B. De Sá, Adalberto M. Filho, Patrícia M. Azoubel

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Fermented beverages have high expression in the market for beverages in general, is increasingly valued in situations where the characteristic aroma and flavor of the material that gave rise to them are kept after processing. This study aimed to develop a distilled beverage from passion fruit, and assess, by sensory tests and chromatographic profile, the influence of different treatments (FM1- spirit with pulp addiction and FM2 – spirit with bigger ratio of pulp in must) in the setting of volatiles in the fruit drink, and performing chemical characterization taking into account the main parameters of quality established by the legislation. The chromatograms and the first sensorial tests had indicated that sample FM1 possess better characteristics of aroma, as much of how much quantitative the qualitative point of view. However, it analyzes it sensorial end (preference test) disclosed the biggest preference of the cloth provers for sample FM2-2 (note 7.93), being the attributes of decisive color and flavor in this reply, confirmed for the observed values lowest of fixed and total acidity in the samples of treatment FM2.

Keywords: Fermented-distilled drink, fruit spirits, passion fruit.

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Authors: Batin Latif Aylak, Bernd Noche

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Nowadays there are lots of applications of power and free conveyors in logistics. They are the most frequently used conveyor systems worldwide. Overhead conveyor technologies like power and free systems are used in the most intra-logistics applications in trade and industry. The automotive, food, beverage and textile industry as well as aeronautic catering or engineering are among the applications. Power and free systems employ different manufacturing intervals in manufacturing as well as in production as temporary store and buffer. Depending on the application area, power and free conveyors are equipped with target controls enabling complex distribution-and sorting tasks. This article introduces a new power and free conveyor design in intra-logistics and explains its components. According to the explanation of the components, a model is created by means of their technical characteristics. Through the CAD software, the model is visualized. After that, the static analysis is evaluated. This analysis helps the calculation of the mandatory state of structures under force action. This powerful model helps companies achieve lower development costs as well as quicker market maturity.

Keywords: Intra-logistics, material flow, power and free conveyor.

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Authors: Ahmed M. Khedr, Saad M. Abdelrahman, Kareem M. Tonbol

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Two geo-referenced sea level datasets (September 2008 – November 2010) and (April 2012 – January 2014) were recorded at Alexandria Western Harbour (AWH). Accurate re-definition of tidal datum, referred to the latest International Terrestrial Reference Frame (ITRF-2014), was discussed and updated to improve our understanding of the old predefined tidal datum at Alexandria. Tidal and non-tidal components of sea level were separated with the use of Delft-3D hydrodynamic model-tide suit (Delft-3D, 2015). Tidal characteristics at AWH were investigated and harmonic analysis showed the most significant 34 constituents with their amplitudes and phases. Tide was identified as semi-diurnal pattern as indicated by a “Form Factor” of 0.24 and 0.25, respectively. Principle tidal datums related to major tidal phenomena were recalculated referred to a meaningful geodetic height datum. The portion of residual energy (surge) out of the total sea level energy was computed for each dataset and found 77% and 72%, respectively. Power spectral density (PSD) showed accurate resolvability in high band (1–6) cycle/days for the nominated independent constituents, except some neighbouring constituents, which are too close in frequency. Wind and atmospheric pressure data, during the recorded sea level time, were analysed and cross-correlated with the surge signals. Moderate association between surge and wind and atmospheric pressure data were obtained. In addition, long-term sea level rise trend at AWH was computed and showed good agreement with earlier estimated rates.

Keywords: Alexandria, Delft-3D, Egypt, geodetic reference, harmonic analysis, sea level.

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Authors: Diego Giuseppe Romano, Gianvito Apuleo, Jiri Duda

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

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

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Authors: Chiung-ying Lee, Chia-hua Chang

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

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

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Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

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

Keywords: Conservative, immigration, liberal, political ideology.

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

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

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

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Authors: Noah G. Akhimien, Eshrar Latif

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The natural environment is in need for an urgent rescue due to dilapidation and recession of resources. Passive design strategies have proven to be one of the effective ways to reduce CO₂ emissions and to improve building performance. On the other hand, there is a huge drop in material availability due to poor recycling culture. Consequently, building waste pose environmental hazard due to unrecycled building materials from construction and deconstruction. Buildings are seen to be material banks for a circular economy, therefore incorporating circular economy into passive housing will not only safe guide the climate but also improve resource efficiency. The study focuses on incorporating a circular economy in passive design strategies for an affordable energy and resource efficient residential building in Nigeria. Carbon dioxide (CO₂) concentration is still on the increase as buildings are responsible for a significant amount of this emission globally. Therefore, prompt measures need to be taken to combat the effect of global warming and associated threats. Nigeria is rapidly growing in human population, resources on the other hand have receded greatly, and there is an abrupt need for recycling even in the built environment. It is necessary that Nigeria responds to these challenges effectively and efficiently considering building resource and energy. Passive design strategies were assessed using simulations to obtain qualitative and quantitative data which were inferred to case studies as it relates to the Nigeria climate. Building materials were analysed using the ReSOLVE model in order to explore possible recycling phase. This provided relevant information and strategies to illustrate the possibility of circular economy in passive buildings. The study offers an alternative approach, as it is the general principle for the reworking of an economy on ecological lines in passive housing and by closing material loops in circular economy.

Keywords: Building, circular economy, efficiency, passive design, sustainability.

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

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

Keywords: Corporate fraud, economic crime, fraudcharacteristic, perpetrators

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Authors: Muniyasamy Kalanchiam, Moorthy Chinnasamy

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

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

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Authors: N. Amangeldi, N. Burtebayev, Sh. Hamada, A. Amar

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the measurement of the angular distribution for the elastic scattering of 16O, 14N and 12C on 27Al has been done at energy 1.75 MeV/nucleon. The optical potential code SPIVAL used in this work to analyze the experimental results. A good agreement between the experimental and theoretical results was obtained.

Keywords: 27Al(16O, 16O)27Al, SPIVAL, 27Al(14N, 14N)27Al, 27Al(12C, 12C)27Al, Elastic Scattering, Optical Potential Codes.

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

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

Keywords: costs, financial methods, management.

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

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

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

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

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

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

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Authors: Jayant Sakhardande, Pratik Pattanayak, Mita Bhowmick

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

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

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

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

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

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Authors: Yousef S. Al-Othman

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

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

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Authors: Muhammad Naveed, Yang Caixia

Abstract:

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

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

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

Abstract:

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

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

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

Abstract:

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

Keywords: Micro-enterprises, Malays, entrepreneurship, Malaysia

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Authors: Karim Heidari

Abstract:

Semantic Web Technologies enable machines to interpret data published in a machine-interpretable form on the web. At the present time, only human beings are able to understand the product information published online. The emerging semantic Web technologies have the potential to deeply influence the further development of the Internet Economy. In this paper we propose a scenario based research approach to predict the effects of these new technologies on electronic markets and business models of traders and intermediaries and customers. Over 300 million searches are conducted everyday on the Internet by people trying to find what they need. A majority of these searches are in the domain of consumer ecommerce, where a web user is looking for something to buy. This represents a huge cost in terms of people hours and an enormous drain of resources. Agent enabled semantic search will have a dramatic impact on the precision of these searches. It will reduce and possibly eliminate information asymmetry where a better informed buyer gets the best value. By impacting this key determinant of market prices semantic web will foster the evolution of different business and economic models. We submit that there is a need for developing these futuristic models based on our current understanding of e-commerce models and nascent semantic web technologies. We believe these business models will encourage mainstream web developers and businesses to join the “semantic web revolution."

Keywords: E-Commerce, E-Business, Semantic Web, XML.

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Authors: José Alberto García Fernández, Zhimin Du, Xinqiao Jin

Abstract:

Nowadays, data center industry faces strong challenges for increasing the speed and data processing capacities while at the same time is trying to keep their devices a suitable working temperature without penalizing that capacity. Consequently, the cooling systems of this kind of facilities use a large amount of energy to dissipate the heat generated inside the servers, and developing new cooling techniques or perfecting those already existing would be a great advance in this type of industry. The installation of a temperature sensor matrix distributed in the structure of each server would provide the necessary information for collecting the required data for obtaining a temperature profile instantly inside them. However, the number of temperature probes required to obtain the temperature profiles with sufficient accuracy is very high and expensive. Therefore, other less intrusive techniques are employed where each point that characterizes the server temperature profile is obtained by solving differential equations through simulation methods, simplifying data collection techniques but increasing the time to obtain results. In order to reduce these calculation times, complicated and slow computational fluid dynamics simulations are replaced by simpler and faster finite element method simulations which solve the Burgers‘ equations by backward, forward and central discretization techniques after simplifying the energy and enthalpy conservation differential equations. The discretization methods employed for solving the first and second order derivatives of the obtained Burgers‘ equation after these simplifications are the key for obtaining results with greater or lesser accuracy regardless of the characteristic truncation error.

Keywords: Burgers’ equations, CFD simulation, data center, discretization methods, FEM simulation, temperature profile.

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