Search results for: Positive energy districts

Authors: M. A. Serag-Eldin

Abstract:

The paper presents the results of simple measurements conducted on a model of a wind-driven venturi-type room ventilator. The ventilator design is new and was developed employing mathematical modeling. However, the computational model was not validated experimentally for the particular application considered. The paper presents the performance of the ventilator model under laboratory conditions, for five different wind tunnel speeds. The results are used to both demonstrate the effectiveness of the new design and to validate the computational model employed to develop it.

Keywords: Venturi-flow, ventilation, Wind-energy, Wind flow.

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Authors: Kenny Raharjo, Ramon Lawrence

Abstract:

Game designers have the challenging task of building games that engage players to spend their time and money on the game. There are an infinite number of game variations and design choices, and it is hard to systematically determine game design choices that will have positive experiences for players. In this work, we demonstrate how multi-arm bandits can be used to automatically explore game design variations to achieve improved player metrics. The advantage of multi-arm bandits is that they allow for continuous experimentation and variation, intrinsically converge to the best solution, and require no special infrastructure to use beyond allowing minor game variations to be deployed to users for evaluation. A user study confirms that applying multi-arm bandits was successful in determining the preferred game variation with highest play time metrics and can be a useful technique in a game designer's toolkit.

Keywords: Game design, multi-arm bandit, design exploration and data mining, player metric optimization and analytics.

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Authors: Mikel Alonso López, María Francisca Blasco López, Víctor Molero Ayala

Abstract:

The present study explains the somatic marker theory of Antonio Damasio, which indicates that when making a decision, the stored or possible future scenarios (future memory) images allow people to feel for a moment what would happen when they make a choice, and how this is emotionally marked. This process can be conscious or unconscious. The development of new Neuromarketing techniques such as functional magnetic resonance imaging (fMRI), carries a greater understanding of how the brain functions and consumer behavior. In the results observed in different studies using fMRI, the evidence suggests that the somatic marker and future memories influence the decision-making process, adding a positive or negative emotional component to the options. This would mean that all decisions would involve a present emotional component, with a rational cost-benefit analysis that can be performed later.

Keywords: Emotions, decision making, somatic marker, consumer´s brain.

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Authors: Juan P. Silva, T. R. Canchala, H. J. Lubberding, E. J. Peña, H. J. Gijzen

Abstract:

This study measured the fluxes of greenhouse gases (GHGs) i.e. CO₂, CH₄ and N₂O from a tropical eutrophic freshwater wetland (“Sonso Lagoon”) which receives input loading nutrient from several sources i.e. agricultural run-off, domestic sewage, and a polluted river. The flux measurements were carried out at four different points using the static chamber technique. CO₂ fluxes ranged from -8270 to 12210 mg.m^-2.d^-1 (median = 360; SD = 4.11; n = 50), CH₄ ranged between 0.2 and 5270 mg.m^-2.d^-1 (median = 60; SD = 1.27; n = 45), and N₂O ranged from -31.12 to 15.4 mg N₂O m^-2.d^-1 (median = 0.05; SD = 9.36; n = 42). Although some negative fluxes were observed in the zone dominated by floating plants i.e. Eichornia crassipes, Salvinia sp., and Pistia stratiotes L., the mean values indicated that the Sonso Lagoon was a net source of CO₂, CH₄ and N₂O. In addition, an effect of the eutrophication on GHG emissions could be observed in the positive correlation found between CO₂, CH₄ and N₂O generation and COD, PO₄^-3, NH₃-N, TN and NO₃^-N. The eutrophication impact on GHG production highlights the necessity to limit the anthropic activities on freshwater wetlands.

Keywords: Eutrophication, greenhouse gas emissions, freshwater wetlands, climate change.

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Authors: L. C. H. Jayarathna, W. M. N. Fernando

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Academics and researchers are interested in the effects of social media on college students, with a specific focus on the most popular social media website; Facebook. Previous studied have found contradictory result on the relationship between Facebook usage and the student engagement with positive, detrimental and no significant relationships. However, these studies were limited to western higher education system. This paper fills a gap in the literature by using a sample (300) of Sri Lankan management undergraduates to examine the relationship between Facebook usage and student engagement. Student engagement was measured 35 item scale based on the National Survey of Student Engagement and Facebook usage by Facebook intensity scale. Descriptive statistics, path analysis and structural equation modeling were applied as statistical tools and techniques. Results indicate that student engagement scale was significantly negatively related with the Facebook usage with the influence from student engagement on Facebook usage.

Keywords: Facebook Intensity, Social Networking Sites, Student Engagement.

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Authors: Jeff A. Tysinger, Dawn P. Tysinger

Abstract:

There has been considerable growth in online learning. Researchers continue to explore the impact various methods of delivery. Podcasting is a popular method for sharing information. The purpose of this study was to examine the impact of student motivation and the perception of the acquisition of knowledge in an online environment of a skill-based class. 25 students in a school psychology graduate class completed a pretest and posttest examining podcast use and familiarity. In addition, at the completion of the course they were administered a modified version of the Instructional Materials Motivation Survey. The four subscales were examined (attention, relevance, confidence, and satisfaction). Results indicated that students are motivated, they perceive podcasts as positive instructional tools, and students are successful in acquiring the needed information. Additional benefits of using podcasts and recommendations in school psychology training are discussed.

Keywords: Motivation, online learning, pedagogy, podcast.

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Authors: Vartan Agopian

Abstract:

Millions of Syrian families have been displaced since the beginning of the Syrian war, and the negative effects of post-war trauma have shown detrimental effects on the mental health of refugee children. While educational strategies have focused on vocational training and academic achievement, little has been done to include music in the school curriculum to help these children improve their mental health. The literature of music education and psychology, on the other hand, shows the positive effects of music on traumatized children, especially when it comes to dealing with stress. This paper presents a brief literature review of trauma, music therapy, and music in the classroom, after having introduced the Syrian war and refugee situation. Furthermore, the paper highlights the benefits of using music with traumatized children from the literature and offers strategies for teachers (such as singing, playing an instrument, songwriting, and others) to include music in their classrooms to help Syrian refugee children deal with post-war trauma.

Keywords: Children, music, refugees, Syria, war.

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Authors: Heng Ma

Abstract:

Aiming at the problems existing in low-carbon technology of Chinese manufacturing industries, such as irrational energy structure, lack of technological innovation, financial constraints, this paper puts forward the suggestion that the leading role of the government is combined with the roles of enterprises and market. That is, through increasing the governmental funding the adjustment of the industrial structures and enhancement of the legal supervision are supported. Technological innovation is accelerated by the enterprises, and the carbon trading will be promoted so as to trigger the low-carbon revolution in Chinese manufacturing field.

Keywords: Low-carbon economy, traditional manufacturing industry, industrial structure, carbon emission reduction.

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Authors: H. S. Huang, J. C. Jao, K. L. Yen, C. T. Tsai

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The purpose of this article applies the monthly final energy yield and failure data of 202 PV systems installed in Taiwan to analyze the PV operational performance and system availability. This data is collected by Industrial Technology Research Institute through manual records. Bad data detection and failure data estimation approaches are proposed to guarantee the quality of the received information. The performance ratio value and system availability are then calculated and compared with those of other countries. It is indicated that the average performance ratio of Taiwan-s PV systems is 0.74 and the availability is 95.7%. These results are similar with those of Germany, Switzerland, Italy and Japan.

Keywords: availability, performance ratio, PV system, Taiwan

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Authors: Isabel Díez Vial, Marta Fernández Olmoss

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This research tries to analyze the role that knowledge about foreign markets has in increasing firms- exports in clustered spaces. We consider two interrelated sources of knowledge: firms- direct experience and indirect experience from other clustered firms – export externalities. In particular, it is proposed that firms would improve their export performance by accessing to export externalities if they have some previous direct experience that allows them to identify, understand and exploit them. Also, we propose that this positive influence of previous direct experience on export externalities keeps only up to a point, where it becomes negative, creating an inverted “U" shape. Empirical evidence gathered among wine producers located in La Rioja tends to confirm that firms enjoy of export externalities if they have export experience along several years and countries increase their export performance. While this relationship becomes less relevant as they develop a higher experience, we could not confirm the existence of a curvilinear relationship in their influence on export externalities and export performance.

Keywords: Clusters, curvilinear relationship, absorptive capacity

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Authors: Oznur Korukcu, Kamile Kukulu, Mehmet Z. Firat

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The propose of this study is to investigate the factor structures of the W-DEQ, originally developed on UK and Swedish women, were confirmed in Turkish samples, and to obtain a new modified factor structure appropriate to Turkish culture. Statistical analyses of the data obtained were performed using SPSS© for Windows version 13.0 and the SAS statistical software Version 9.1. Both confirmatory and exploratory factor analysis of W-DEQ were performed in the study. Factor analysis yielded four factors related to hope, fear, lack of positive anticipation and riskiness. The alpha estimates of the total W-DEQ score were somewhat higher, being 0.92 for the parous and 0.90 for the nulliparous sample. These are well above the accepted limit of 0.70 and indicate excellent levels of internal reliability, thus showing that the questions were appropriate to the Turkish culture and useful scale for the evaluation of fear of childbirth in Turkish pregnants.

Keywords: Confirmatory factor analysis, cross-cultural research, exploratory factor analysis, fear of childbirth.

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Authors: D. M. Cocârță, I. A. Istrate, C. Streche, D. M. Dumitru

Abstract:

Soil contamination phenomena are a wide world issue that has received the important attention in the last decades. The main pollutants that have affected soils are especially those resulted from the oil extraction, transport and processing. This paper presents results obtained in the framework of a research project focused on the management of contaminated sites with petroleum products/ REMPET. One of the specific objectives of the REMPET project was to assess the electrochemical treatment (improved with polarity change respect to the typical approach) as a treatment option for the remediation of total petroleum hydrocarbons (TPHs) from contaminated soils. Petroleum hydrocarbon compounds attach to soil components and are difficult to remove and degrade. Electrochemical treatment is a physicochemical treatment that has gained acceptance as an alternative method, for the remediation of organic contaminated soils comparing with the traditional methods as bioremediation and chemical oxidation. This type of treatment need short time and have high removal efficiency, being usually applied in heterogeneous soils with low permeability. During the experimental tests, the following parameters were monitored: pH, redox potential, humidity, current intensity, energy consumption. The electrochemical method was applied in an experimental setup with the next dimensions: 450 mm x 150 mm x 150 mm (L x l x h). The setup length was devised in three electrochemical cells that were connected at two power supplies. The power supplies configuration was provided in such manner that each cell has a cathode and an anode without overlapping. The initial value of TPH concentration in soil was of 1420.28 mg/kg_dw. The remediation method has been applied for only 21 days, when it was already noticed an average removal efficiency of 31 %, with better results in the anode area respect to the cathode one (33% respect to 27%). The energy consumption registered after the development of the experiment was 10.6 kWh for exterior power supply and 16.1 kWh for the interior one. Taking into account that at national level, the most used methods for soil remediation are bioremediation (which needs too much time to be implemented and depends on many factors) and thermal desorption (which involves high costs in order to be implemented), the study of electrochemical treatment will give an alternative to these two methods (and their limitations).

Keywords: Electrochemical remediation, pollution, soil contamination, total petroleum hydrocarbons

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Authors: Subir Kundu, Sukhendra Singh, Sumedha Ojha, Kanika Kundu

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The continuous decline of petroleum and natural gas reserves and non linear rise of oil price has brought about a realisation of the need for a change in our perpetual dependence on the fossil fuel. A day to day increased consumption of crude and petroleum products has made a considerable impact on our foreign exchange reserves. Hence, an alternate resource for the conversion of energy (both liquid and gas) is essential for the substitution of conventional fuels. Biomass is the alternate solution for the present scenario. Biomass can be converted into both liquid as well as gaseous fuels and other feedstocks for the industries.

Keywords: Bioenergy, Biomass conversion, Biorefining, Efficient utilisation of night soil.

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Authors: A. Ourici

Abstract:

This paper proposes a direct power control for doubly-fed induction machine for variable speed wind power generation. It provides decoupled regulation of the primary side active and reactive power and it is suitable for both electric energy generation and drive applications. In order to control the power flowing between the stator of the DFIG and the network, a decoupled control of active and reactive power is synthesized using PI controllers.The obtained simulation results show the feasibility and the effectiveness of the suggested method

Keywords: Doubly fed induction machine , decoupled power control , vector control , active and reactive power, PWM inverter

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Authors: A. M. Hassanain, Nader M. A. Mohamed, M. Naguib Aly, Alya A. Badawi, M. A. Gaheen

Abstract:

The thermal, epithermal and fast fluxes were calculated for three irradiation channels at Egypt Second Research Reactor (ETRR-2) using CITVAP code. The validity of the calculations was verified by experimental measurements. There are some deviations between measurements and calculations. This is due to approximations in the calculation models used, homogenization of regions, condensation of energy groups and uncertainty in nuclear data used. Neutron flux data for the three irradiation channels are now available. This would enable predicting the irradiation conditions needed for future radioisotope production.

Keywords: ETRR-2, Neutron flux, Radioisotope production, CITVAP

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Authors: F. Kurtuluş, G. Çelik Gül

Abstract:

Cesium molybdates with general formula CsMIII(MoO4)2, where MIII = Bi, Dy, Pr, Er, exhibit rich polymorphism, and crystallize in a layered structure. These properties cause intensive studies on cesium molybdates. CsBi(MoO4)2 was synthesized by microwave method by using cerium sulphate, bismuth oxide and molybdenum (VI) oxide in an appropriate molar ratio. Characterizations were done by x-ray diffraction (XRD), fourier transform infrared (FTIR) spectroscopy, scanning electron microscopy/energy dispersive analyze (SEM/EDS), thermo gravimetric/differantial thermal analysis (TG/DTA).

Keywords: Cesium bismuth dimolybdate, microwave synthesis, powder x-ray diffraction, rare earth dimolybdates.

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Authors: H. Gorine, M. Ramadan Elmezughi

Abstract:

In this paper, we investigate security issues and challenges facing researchers in wireless sensor networks and countermeasures to resolve them. The broadcast nature of wireless communication makes Wireless Sensor Networks prone to various attacks. Due to resources limitation constraint in terms of limited energy, computation power and memory, security in wireless sensor networks creates different challenges than wired network security. We will discuss several attempts at addressing the issues of security in wireless sensor networks in an attempt to encourage more research into this area.

Keywords: Malicious nodes, network security, soft encryption, threats, wireless sensor networks.

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Authors: Ahmed Amin Mousa, Mona Yacoub

Abstract:

This study depends on tracking children style through what they have drawn after being introduced to 16 visual content through National Geographic Abu Dhabi Channel programs and the study of the changing features in their drawings before applying the visual act with them. The researchers used Goodenough-Harris Test to analyse children drawings and to extract the features which changed in their drawing before and after the visual content. The results showed a positive change especially in the shapes of animals and their properties. Children become more aware of animals’ shapes. The study sample was 220 kindergarten children divided into 130 girls and 90 boys at the Orman Experimental Language School in Dokki, Giza, Egypt. The study results showed an improvement in children drawing with 85% than they were before watching videos.

Keywords: National Geographic, children drawing, kindergarten, Goodenough-Harris Test.

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Authors: Dalanya Asaad Mohammed, Dara Abdul Razaq

Abstract:

A total of twenty tensile biopsies were collected from children undergoing tonsillectomy from teaching hospital ENT department and Kurdistan private hospital in sulaimani city. All biopsies were homogenized and cultured; the obtained bacterial isolates were purified and identified by biochemical tests and VITEK 2 compact system. Among the twenty studied samples, only one Pseudomonas putida with probability of 99% was isolated. Antimicrobial susceptibility was carried out by disk diffusion method, Pseudomonas putida showed resistance to all antibiotics used except vancomycin. The isolate further subjected to PCR and DNA sequence analysis of blaVIM gene using different set of primers for different regions of VIM gene. The results were found to be PCR positive for the blaVIM gene. To determine the sequence of blaVIM gene, DNA sequencing performed. Sequence alignment of blaVIM gene with previously recorded blaVIM gene in NCBI- database showed that P. putida isolate have different blaVIM gene.

Keywords: Clinical isolates, Putida, Sulaimani, Vim gene.

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Authors: Lavkush Kumar Brahman, Ramesh Chandra

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Experiments were carried out on the survival and growth of Rasbora daniconius, Puntius ticto and Puntius conchonius. The motivation of the study was to obtain information for growing the fish on a commercial scale for their use as biological control agents against mosquito larvae. The effects of temperature, total hardness, DO, pH and feed on the growth of fish were also investigated. Excessive value of total hardness was found because very rich calcium ion is present in Chitrakoot area. There was significant increases in growth rates of fish as temperature was increased from 28⁰C to 30⁰C. Further increases in temperature up to 32⁰C, did not further affect growth. The positive and highly significant correlations 0.991488, 0.9581 and 0.9935 were found between length and weight of P. ticto, P. conchonius and R. daniconius respectively. The regression was significant at 5% level of probability.

Keywords: Indigenous fish, DO, larvae, mosquito, pH, Temperature, total hardness.

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Authors: Baljinder K. Gill, V. K. Rattan, Seema Kapoor

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Isobaric vapor-liquid equilibrium measurements are reported for the binary mixtures of n-Butylamine and Triethylamine with Cumene at 97.3 kPa. The measurements have been performed using a vapor recirculating type (modified Othmer's) equilibrium still. The binary mixture of n-Butylamine + Cumene shows positive deviation from ideality. Triethylamine + Cumene mixture shows negligible deviation from ideality. None of the systems form an azeotrope. The activity coefficients have been calculated taking into consideration the vapor phase nonideality. The data satisfy the thermodynamic consistency test of Herington. The activity coefficients have been satisfactorily correlated by means of the Margules, NRTL, and Black equations. The activity coefficient values obtained by the UNIFAC model are also reported.

Keywords: Binary mixture, cumene, n-butylamine, triethylamine, vapor-liquid equilibrium.

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Authors: Peter Hardi, Bala Mulloth

Abstract:

To be considered a socially entrepreneurial organization today requires achieving what can be termed a “hybrid middle ground” equilibrium, comprising of economic as well as social sustainability. This middle ground requires some blend of both business and social commitments. In this paper, we use the case of Hungary's second ranked mobile operator, Telenor Hungary to illustrate an example of a company that is moving to the hybrid middle ground by transitioning from a for-profit company to a socially responsible business using the concept of strategic CSR. In this line of thinking, the organization explicitly supports programs and initiatives that have a direct link to the core business and bring operational and/or financial advantages for the company, while creating a positive social and/or environmental impact. The important lessons learned from the company transition are also discussed. 

Keywords: Hybrid middle ground, social entrepreneurship, strategic corporate social responsibility.

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Authors: X. Mamaqi, J.Miguel, P. Olave

Abstract:

The aim of this paper is to provide an empirical evidence about the effects that the management of continuous training have on employability (or employment stability) in the Spanish labour market. With this purpose a binary logit model with interaction effect is been used. The dependent variable includes two situations of the active workers: continuous and discontinuous employability. To distinguish between them an Employability Index Stability (ESI) was calculated taking into account two factors: time worked and job security. Various aspects of the continuous training and personal workers data are used as independent variables. The data obtained from a survey of a sample of 918 employed have revealed a relationship between the likelihood of continuous employability and continuous training received. The empirical results support the positive and significant relationship between various aspects of the training provided by firms and employability likelihood of the workers, postulate alike from a theoretical point of view.

Keywords: training management, employability/employmentstability, binary logit model, interaction effect, Spanish marketlabour.

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Authors: Yang Zhou, Kangfeng Zheng, Wei Ni, Ren Ping Liu

Abstract:

Software-defined networking (SDN) provides a solution for scalable network framework with decoupled control and data plane. However, this architecture also induces a particular distributed denial-of-service (DDoS) attack that can affect or even overwhelm the SDN network. DDoS attack detection problem has to date been mostly researched as entropy comparison problem. However, this problem lacks the utilization of SDN, and the results are not accurate. In this paper, we propose a DDoS attack detection method, which interprets DDoS detection as a signature matching problem and is formulated as Earth Mover’s Distance (EMD) model. Considering the feasibility and accuracy, we further propose to define the cost function of EMD to be a generalized Kullback-Leibler divergence. Simulation results show that our proposed method can detect DDoS attacks by comparing EMD values with the ones computed in the case without attacks. Moreover, our method can significantly increase the true positive rate of detection.

Keywords: DDoS detection, EMD, relative entropy, SDN.

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Authors: Peggy S. C. van Teunenbroek

Abstract:

Recently, philanthropic crowd-funding -the raising of external funding from a large audience via social networks or social media- emerged as a new funding instrument for the Dutch cultural sector. However, such philanthropic crowdfunding in the US and the Netherlands is less successful than any other form of crowdfunding. We argue that social aspects are an important stimulus in philanthropic crowd-funding since previous research has shown that crowdfunding is stimulated by something beyond financial merits. Put simply, crowd-funding seems to be a socially motivated activity. In this paper we focus on the effect of social information, described as information about the donation behavior of previous donors. Using a classroom experiment we demonstrated a positive effect of social information on the donation behavior in crowdfunding campaigns. Our study extends previous research by showing who is affected by social information and why, and highlights how social information can be used to stimulate individuals to donate more to crowdfunding projects.

Keywords: Online donation behavior, philanthropic crowd-funding, social information, social influence, social motivation.

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Authors: Safae El Alaoui, Mohamed Ouzahra

Abstract:

In this work, we investigate the exponential stability of a linear system described by x˙ (t) = Ax(t) − ρBx(t). Here, A generates a semigroup S(t) on a Hilbert space, the operator B is supposed to be of Desch-Schappacher type, which makes the investigation more interesting in many applications. The case of Miyadera-Voigt perturbations is also considered. Sufficient conditions are formulated in terms of admissibility and observability inequalities and the approach is based on some energy estimates. Finally, the obtained results are applied to prove the uniform exponential stabilization of bilinear partial differential equations.

Keywords: Exponential stabilization, unbounded operator, Desch-Schappacher, Miyadera-Voigt operator.

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Authors: R.M. Kainkwa

Abstract:

The African Great Lakes Region refers to the zone around lakes Victoria, Tanganyika, Albert, Edward, Kivu, and Malawi. The main source of electricity in this region is hydropower whose systems are generally characterized by relatively weak, isolated power schemes, poor maintenance and technical deficiencies with limited electricity infrastructures. Most of the hydro sources are rain fed, and as such there is normally a deficiency of water during the dry seasons and extended droughts. In such calamities fossil fuels sources, in particular petroleum products and natural gas, are normally used to rescue the situation but apart from them being nonrenewable, they also release huge amount of green house gases to our environment which in turn accelerates the global warming that has at present reached an amazing stage. Wind power is ample, renewable, widely distributed, clean, and free energy source that does not consume or pollute water. Wind generated electricity is one of the most practical and commercially viable option for grid quality and utility scale electricity production. However, the main shortcoming associated with electric wind power generation is fluctuation in its output both in space and time. Before making a decision to establish a wind park at a site, the wind speed features there should therefore be known thoroughly as well as local demand or transmission capacity. The main objective of this paper is to utilise monthly average wind speed data collected from one prospective site within the African Great Lakes Region to demonstrate that the available wind power there is high enough to generate electricity. The mean monthly values were calculated from records gathered on hourly basis for a period of 5 years (2001 to 2005) from a site in Tanzania. The documentations that were collected at a height of 2 m were projected to a height of 50 m which is the standard hub height of wind turbines. The overall monthly average wind speed was found to be 12.11 m/s whereas June to November was established to be the windy season as the wind speed during the session is above the overall monthly wind speed. The available wind power density corresponding to the overall mean monthly wind speed was evaluated to be 1072 W/m2, a potential that is worthwhile harvesting for the purpose of electric generation.

Keywords: Hydro power, windy season, available wind powerdensity.

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Authors: Xijian Wang

Abstract:

This paper is concerned with the numerical minimization of energy functionals in BV ( ) (the space of bounded variation functions) involving total variation for gray-scale 1-dimensional inpainting problem. Applications are shown by finite element method and discontinuous Galerkin method for total variation minimization. We include the numerical examples which show the different recovery image by these two methods.

Keywords: finite element method, discontinuous Galerkin method, total variation minimization, inpainting

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Authors: Kyosik Koo, Hyungtai Cha

Abstract:

Generally, in order to create 3D sound using binaural systems, we use head related transfer functions (HRTF) including the information of sounds which is arrived to our ears. But it can decline some three-dimensional effects in the area of a cone of confusion between front and back directions, because of the characteristics of HRTF. In this paper, we propose a new method to use psychoacoustics theory that reduces the confusion of sound image localization. In the method, HRTF spectrum characteristic is enhanced by using the energy ratio of the bark band. Informal listening tests show that the proposed method improves the front-back sound localization characteristics much better than the conventional methods

Keywords: HRTF, 3D sound, Psychoacoustics, Localization

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Authors: Petr Teply

Abstract:

While the form of crises may change, their essence remains the same (such as a cycle of abundant liquidity, rapid credit growth, and a low-inflation environment followed by an asset-price bubble). The current market turbulence began in mid-2000s when the US economy shifted to imbalanced both internal and external macroeconomic positions. We see two key causes of these problems – loose US monetary policy in early 2000s and US government guarantees issued on the securities by government-sponsored enterprises what was further fueled by financial innovations such as structured credit products. We have discovered both negative and positive lessons deriving from this crisis and divided the negative lessons into three groups: financial products and valuation, processes and business models, and strategic issues. Moreover, we address key risk management lessons and exit strategies derived from the current crisis and recommend policies that should help diminish the negative impact of future potential crises.

Keywords: exist strategy, global crisis, risk management, corporate governance

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