Search results for: high gain
3754 Some Third Order Methods for Solving Systems of Nonlinear Equations
Authors: Janak Raj Sharma, Rajni Sharma
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Based on Traub-s methods for solving nonlinear equation f(x) = 0, we develop two families of third-order methods for solving system of nonlinear equations F(x) = 0. The families include well-known existing methods as special cases. The stability is corroborated by numerical results. Comparison with well-known methods shows that the present methods are robust. These higher order methods may be very useful in the numerical applications requiring high precision in their computations because these methods yield a clear reduction in number of iterations.Keywords: Nonlinear equations and systems, Newton's method, fixed point iteration, order of convergence.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22133753 Cost-Optimized SSB Transmitter with High Frequency Stability and Selectivity
Authors: J. P. Dubois
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Single side band modulation is a widespread technique in communication with significant impact on communication technologies such as DSL modems and ATSC TV. Its widespread utilization is due to its bandwidth and power saving characteristics. In this paper, we present a new scheme for SSB signal generation which is cost efficient and enjoys superior characteristics in terms of frequency stability, selectivity, and robustness to noise. In the process, we develop novel Hilbert transform properties.
Keywords: Crystal filter, frequency drift, frequency mixing, Hilbert transform, phasing, selectivity, single side band AM.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14163752 Problems of Boolean Reasoning Based Biclustering Parallelization
Authors: Marcin Michalak
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Biclustering is the way of two-dimensional data analysis. For several years it became possible to express such issue in terms of Boolean reasoning, for processing continuous, discrete and binary data. The mathematical backgrounds of such approach — proved ability of induction of exact and inclusion–maximal biclusters fulfilling assumed criteria — are strong advantages of the method. Unfortunately, the core of the method has quite high computational complexity. In the paper the basics of Boolean reasoning approach for biclustering are presented. In such context the problems of computation parallelization are risen.Keywords: Boolean reasoning, biclustering, parallelization, prime implicant.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6043751 Metal Berthelot Tubes with Windows for Observing Cavitation under Static Negative Pressure
Authors: K. Hiro, Y. Imai, T. Sasayama
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Cavitation under static negative pressure is not revealed well. The Berthelot method to generate such negative pressure can be a means to study cavitation inception. In this study, metal Berthelot tubes built in observation windows are newly developed and are checked whether high static negative pressure is generated or not. Negative pressure in the tube with a pair of a corundum plate and an aluminum gasket increased with temperature cycles. The trend was similar to that as reported before.
Keywords: Berthelot method, negative pressure, cavitation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10603750 Simulation and Parameterization by the Finite Element Method of a C Shape Delectromagnet for Application in the Characterization of Magnetic Properties of Materials
Authors: A. A Velásquez, J.Baena
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This article presents the simulation, parameterization and optimization of an electromagnet with the C–shaped configuration, intended for the study of magnetic properties of materials. The electromagnet studied consists of a C-shaped yoke, which provides self–shielding for minimizing losses of magnetic flux density, two poles of high magnetic permeability and power coils wound on the poles. The main physical variable studied was the static magnetic flux density in a column within the gap between the poles, with 4cm2 of square cross section and a length of 5cm, seeking a suitable set of parameters that allow us to achieve a uniform magnetic flux density of 1x104 Gaussor values above this in the column, when the system operates at room temperature and with a current consumption not exceeding 5A. By means of a magnetostatic analysis by the finite element method, the magnetic flux density and the distribution of the magnetic field lines were visualized and quantified. From the results obtained by simulating an initial configuration of electromagnet, a structural optimization of the geometry of the adjustable caps for the ends of the poles was performed. The magnetic permeability effect of the soft magnetic materials used in the poles system, such as low– carbon steel (0.08% C), Permalloy (45% Ni, 54.7% Fe) and Mumetal (21.2% Fe, 78.5% Ni), was also evaluated. The intensity and uniformity of the magnetic field in the gap showed a high dependence with the factors described above. The magnetic field achieved in the column was uniform and its magnitude ranged between 1.5x104 Gauss and 1.9x104 Gauss according to the material of the pole used, with the possibility of increasing the magnetic field by choosing a suitable geometry of the cap, introducing a cooling system for the coils and adjusting the spacing between the poles. This makes the device a versatile and scalable tool to generate the magnetic field necessary to perform magnetic characterization of materials by techniques such as vibrating sample magnetometry (VSM), Hall-effect, Kerr-effect magnetometry, among others. Additionally, a CAD design of the modules of the electromagnet is presented in order to facilitate the construction and scaling of the physical device.
Keywords: Electromagnet, Finite Elements Method, Magnetostatic, Magnetometry, Modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19373749 Long-Term Deformations of Concrete Structures
Authors: A. Brahma
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Drying is a phenomenon that accompanies the hardening of hydraulic materials. This study is concerned the modelling of drying shrinkage of the hydraulic materials and the prediction of the rate of spontaneous deformations of hydraulic materials during hardening. The model developed takes consideration of the main factors affecting drying shrinkage. There was agreement between drying shrinkage predicted by the developed model and experimental results. In last we show that developed model describe the evolution of the drying shrinkage of high performances concretes correctly.Keywords: Drying, hydraulic concretes, shrinkage, modeling, prediction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17823748 First Order Filter Based Current-Mode Sinusoidal Oscillators Using Current Differencing Transconductance Amplifiers (CDTAs)
Authors: S. Summart, C. Saetiaw, T. Thosdeekoraphat, C. Thongsopa
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This article presents new current-mode oscillator circuits using CDTAs which is designed from block diagram. The proposed circuits consist of two CDTAs and two grounded capacitors. The condition of oscillation and the frequency of oscillation can be adjusted by electronic method. The circuits have high output impedance and use only grounded capacitors without any external resistor which is very appropriate to future development into an integrated circuit. The results of PSPICE simulation program are corresponding to the theoretical analysis.
Keywords: Current-mode, Quadrature Oscillator, Block Diagram, CDTA.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16233747 Academic Loss in Japanese Society: Suicide and Harassment
Authors: Miho Tsukamoto
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Among many occupations in the country, the highest suicide rate is caused by graduate students. One of the reasons of high rate of suicide, is caused academic harassment. This paper is significant as researchers have investigated and many cases caused “jisatsu” have noticed in the country. Accordingly, this paper uses statistic of governmental organization, and focuses on graduate students’ mental stress, and graduate students’ suicides and leaves of absence.Keywords: Academic Harassment, Academic Loss, Escape, Jisatsu.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9333746 Evaluation of Hydrocarbons in Tissues of Bivalve Mollusks from the Red Sea Coast
Authors: A. Aljohani, M. Orif
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The concentration of polycyclic aromatic hydrocarbons (PAH) in clams (A. glabrata) was examined in samples collected from Alseef Beach, 30 km south of Jeddah city. Gas chromatography-mass spectrometry (GC-MS) was used to analyze the 14 PAHs. The concentration of total PAHs was found to range from 11.521 to 40.149 ng/gdw with a mean concentration of 21.857 ng/gdw, which is lower compared to similar studies. The lower molecular weight PAHs with three rings comprised 18.14% of the total PAH concentrations in the clams, while the high molecular weight PAHs with four rings, five rings, and six rings account for 81.86%. Diagnostic ratios for PAH source distinction suggested pyrogenic or anthropogenic sources.
Keywords: Bivalves, biomonitoring, hydrocarbons, PAHs.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1793745 Effect of Gas-Diffusion Oxynitriding on Microstructure and Hardness of Ti-6Al-4V Alloys
Authors: Dong Bok Lee, Min Jung Kim
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The commercially available titanium alloy, Ti-6Al-4V, was oxynitrided in the deoxygenated nitrogen gas at high temperatures followed by cooling in oxygen-containing nitrogen in order to analyze the influence of oxynitriding parameters on the phase modification, hardness, and the microstructural evolution of the oxynitrided coating. The surface microhardness of the oxynitrided alloy increased due to the strengthening effect of the formed titanium oxynitrides, TiNxOy. The maximum microhardness was obtained, when TiNxOy had near equiatomic composition of nitrogen and oxygen. It could be attained under the optimum oxygen partial pressure and temperature-time condition.
Keywords: Oxynitriding, surface microhardness, titanium alloys, Ti-6Al-4V.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11593744 Solar Cell Degradation by Electron Irradiation Effect of Irradiation Fluence
Authors: H. Mazouz, A. Belghachi, F. Hadjaj
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Solar cells used in orbit are exposed to radiation environment mainly protons and high energy electrons. These particles degrade the output parameters of the solar cell. The aim of this work is to characterize the effects of electron irradiation fluence on the J (V) characteristic and output parameters of GaAs solar cell by numerical simulation. The results obtained demonstrate that the electron irradiation-induced degradation of performances of the cells concerns mainly the short circuit current
Keywords: GaAs solar cell, 1MeV electron irradiation, irradiation fluence.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 38703743 Order Reduction using Modified Pole Clustering and Pade Approximations
Authors: C.B. Vishwakarma
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The authors present a mixed method for reducing the order of the large-scale dynamic systems. In this method, the denominator polynomial of the reduced order model is obtained by using the modified pole clustering technique while the coefficients of the numerator are obtained by Pade approximations. This method is conceptually simple and always generates stable reduced models if the original high-order system is stable. The proposed method is illustrated with the help of the numerical examples taken from the literature.
Keywords: Modified pole clustering, order reduction, padeapproximation, stability, transfer function.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29843742 Evaluation of a Remanufacturing for Lithium Ion Batteries from Electric Cars
Authors: Achim Kampker, Heiner H. Heimes, Mathias Ordung, Christoph Lienemann, Ansgar Hollah, Nemanja Sarovic
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Electric cars with their fast innovation cycles and their disruptive character offer a high degree of freedom regarding innovative design for remanufacturing. Remanufacturing increases not only the resource but also the economic efficiency by a prolonged product life time. The reduced power train wear of electric cars combined with high manufacturing costs for batteries allow new business models and even second life applications. Modular and intermountable designed battery packs enable the replacement of defective or outdated battery cells, allow additional cost savings and a prolongation of life time. This paper discusses opportunities for future remanufacturing value chains of electric cars and their battery components and how to address their potentials with elaborate designs. Based on a brief overview of implemented remanufacturing structures in different industries, opportunities of transferability are evaluated. In addition to an analysis of current and upcoming challenges, promising perspectives for a sustainable electric car circular economy enabled by design for remanufacturing are deduced. Two mathematical models describe the feasibility of pursuing a circular economy of lithium ion batteries and evaluate remanufacturing in terms of sustainability and economic efficiency. Taking into consideration not only labor and material cost but also capital costs for equipment and factory facilities to support the remanufacturing process, cost benefit analysis prognosticate that a remanufacturing battery can be produced more cost-efficiently. The ecological benefits were calculated on a broad database from different research projects which focus on the recycling, the second use and the assembly of lithium ion batteries. The results of this calculations show a significant improvement by remanufacturing in all relevant factors especially in the consumption of resources and greenhouse warming potential. Exemplarily suitable design guidelines for future remanufacturing lithium ion batteries, which consider modularity, interfaces and disassembly, are used to illustrate the findings. For one guideline, potential cost improvements were calculated and upcoming challenges are pointed out.
Keywords: Circular economy, electric mobility, lithium ion batteries, remanufacturing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 54013741 Investigation of Thin Film Cathode Prepared by Synthesized Nano Pyrite
Authors: S. Kowsari, M. Aghaziarati
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Pyrite (FeS2) is a promising candidate for cathode materials in batteries because of it`s high theoretical capacity, low cost and non-toxicity. In this study, nano size iron disulfide thin film was prepared on graphite substrate through a new method as battery cathode. In this way, acetylene black and poly vinylidene fluoride were used as electron conductor and binder, respectively. Fabricated thin films were analyzed by XRD and SEM. These results and electrochemical data confirm improvement of battery discharge capacity in comparison with commercial type of pyrite.Keywords: Nano pyrite, Thin film, Battery cathode, capacity.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19403740 Enhancement of Shape Description and Representation by Slope
Authors: Ali Salem Bin Samma, Rosalina Abdul Salam
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Representation and description of object shapes by the slopes of their contours or borders are proposed. The idea is to capture the essence of the features that make it easier for a shape to be stored, transmitted, compared and recognized. These features must be independent of translation, rotation and scaling of the shape. A approach is proposed to obtain high performance, efficiency and to merge the boundaries into sequence of straight line segments with the fewest possible segments. Evaluation on the performance of the proposed method is based on its comparison with established method of object shape description.Keywords: Shape description, Shape representation and Slope.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14603739 Experimental Tests of a Vertical-Axis Wind Turbine with Twisted Blades
Authors: Gabriele Bedon, Marco Raciti Castelli, Ernesto Benini
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An experimental campaign of measurements for a Darrieus vertical-axis wind turbine (VAWT) is presented for open field conditions. The turbine is characterized by a twisted bladed design, each blade being placed at a fixed distance from the rotational shaft. The experimental setup to perform the acquisitions is described. The results are lower than expected, due to the high influence of the wind shear.Keywords: Vertical-axis wind turbine, Darrieus wind turbine, twisted blades, experimental measurements, wind shear.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26183738 Measurement of Systemic Power Efficiency of Microwave Heating Application
Authors: Yi He, Nutdechatorn Puangngernmak, Suramate Chalermwisutkul
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Microwave heating process has been developed about sixty years while measurement system has also progressed. Because of irradiation of high frequency of microwave, researchers have been utilized many costly technical instrument measuring parameters to evaluate the performance of microwave heating system. Therefore, this paper is intended to present an easier and feasible efficiency measurement method. It can help inspecting efficiency of microwave heating system with good accuracy, while the method can also give reference to optimizing procedure for microwave heating system for various load material
Keywords: measurement, microwave heating system, systemic power efficiency
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18543737 The Path to Web Intelligence Maturity
Authors: Zeljko Panian
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Web intelligence, if made personal, can fuel the process of building communications around the interests and preferences of each individual customer or prospect, by providing specific behavioral insights about each individual. To become fully efficient, Web intelligence must reach a stage of a high-level maturity, passing throughout a process that involves five steps: (1) Web site analysis; (2) Web site and advertising optimization; (3) Segment targeting; (4) Interactive marketing (online only); and (5) Interactive marketing (online and offline). Discussing these steps in detail, the paper uncovers the real gold mine that is personal-level Web intelligence.
Keywords: Web intelligence, web analytics, informationtechnology (IT), interactive marketing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16413736 Modified Hankel Matrix Approach for Model Order Reduction in Time Domain
Authors: C. B. Vishwakarma
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The author presented a method for model order reduction of large-scale time-invariant systems in time domain. In this approach, two modified Hankel matrices are suggested for getting reduced order models. The proposed method is simple, efficient and retains stability feature of the original high order system. The viability of the method is illustrated through the examples taken from literature.
Keywords: Model Order Reduction, Stability, Hankel Matrix, Time-Domain, Integral Square Error.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20843735 Effects of the Purpose Expropriation of Land Consolidation to Landholding
Authors: Turgut Ayten, Tayfun Çay
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In the current expropriation of Turkey, the state acquires necessary lands for its investment without permission of the owners and not searching for alternative solutions, so it is determined that neither processor nor processed is not happy. In this study, interactions of enterprises in Turkey are analysed in case the necessary land for public investments are acquired by expropriation purposed land consolidation. Legal basis, positive and negative sides, financial effects to enterprises of this method is evaluated according to Konya Kadınhanı, Kolukısa avenue which is on the Konya-Ankara High-Speed Train Route.
Keywords: Land consolidation, expropriation purposed land consolidation, sustainable rural development, cost.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8153734 Implemented 5-bit 125-MS/s Successive Approximation Register ADC on FPGA
Authors: S. Heydarzadeh, A. Kadivarian, P. Torkzadeh
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Implemented 5-bit 125-MS/s successive approximation register (SAR) analog to digital converter (ADC) on FPGA is presented in this paper.The design and modeling of a high performance SAR analog to digital converter are based on monotonic capacitor switching procedure algorithm .Spartan 3 FPGA is chosen for implementing SAR analog to digital converter algorithm. SAR VHDL program writes in Xilinx and modelsim uses for showing results.Keywords: Analog to digital converter, Successive approximation, Capacitor switching algorithm, FPGA
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 43763733 Double Aperture Camera for High Resolution Measurement
Authors: Venkatesh Bagaria, Nagesh AS, Varun AV
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In the domain of machine vision, the measurement of length is done using cameras where the accuracy is directly proportional to the resolution of the camera and inversely to the size of the object. Since most of the pixels are wasted imaging the entire body as opposed to just imaging the edges in a conventional system, a double aperture system is constructed to focus on the edges to measure at higher resolution. The paper discusses the complexities and how they are mitigated to realize a practical machine vision system.Keywords: Machine Vision, double aperture camera, accurate length measurement
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15743732 Performance Evaluation of Routing Protocols For High Density Ad Hoc Networks based on Qos by GlomoSim Simulator
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Ad hoc networks are characterized by multihop wireless connectivity, frequently changing network topology and the need for efficient dynamic routing protocols. We compare the performance of three routing protocols for mobile ad hoc networks: Dynamic Source Routing (DSR) , Ad Hoc On-Demand Distance Vector Routing (AODV), location-aided routing(LAR1).The performance differentials are analyzed using varying network load, mobility, and network size. We simulate protocols with GLOMOSIM simulator. Based on the observations, we make recommendations about when the performance of either protocol can be best.Keywords: Ad hoc Network , Glomosim , routing protocols.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16233731 Relevant LMA Features for Human Motion Recognition
Authors: Insaf Ajili, Malik Mallem, Jean-Yves Didier
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Motion recognition from videos is actually a very complex task due to the high variability of motions. This paper describes the challenges of human motion recognition, especially motion representation step with relevant features. Our descriptor vector is inspired from Laban Movement Analysis method. We propose discriminative features using the Random Forest algorithm in order to remove redundant features and make learning algorithms operate faster and more effectively. We validate our method on MSRC-12 and UTKinect datasets.Keywords: Human motion recognition, Discriminative LMA features, random forest, features reduction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7793730 Analysis of DNA from Fired Cartridge Casings
Authors: S. Mawlood, L. Dennany, N. Watson, B. Pickard
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DNA analysis has been widely accepted as providing valuable evidence concerning the identity of the source of biological traces. Our work has showed that DNA samples can survive on cartridges even after firing. The study also raised the possibility of determining other information such as the age of the donor. Such information may be invaluable in certain cases where spent cartridges from automatic weapons are left behind at the scene of a crime. In spite of the nature of touch evidence and exposure to high chamber temperatures during shooting, we were still capable to retrieve enough DNA for profile typing. In order to estimate age of contributor, DNA methylation levels were analyzed using EpiTect system for retrieved DNA. However, results were not conclusive, due to low amount of input DNA.Keywords: Age prediction, Fired cartridge, Trace DNA sample.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 39163729 Using LabVIEW Software in an Introductory Residual Current Device Course
Authors: B. Rajkumarsingh, S. Goolaup, A. Galleegadoo
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Laboratory classes in Electrical Engineering are often hampered by safety issues, as students have to work on high voltage lines. One solution is to make use of virtual laboratory simulations, to help students understand the concepts taught in their coursework. In this context, we have conceived and implemented virtual lab experiments in connection with the study of earthing arrangements. In this work, software was developed, which aid student in understanding the working of a residual current device (RCD) in a TT earthing system. Various parameters, such as the earthing resistances, leakage currents and harmonics were included for a TT system with RCD connection.
Keywords: TT system, RCD, LabVIEW, Learning aids.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18883728 Influence of Sodium Acetate on Electroless Ni-P Deposits and Effect of Heat Treatment on Corrosion Behavior
Authors: Y. El Kaissi, M. Allam, A. Koulou, M. Galai, M. Ebn Touhami
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The aim of our work is to develop an industrial bath of nickel alloy deposit on mild steel. The optimization of the operating parameters made it possible to obtain a stable Ni-P alloy deposition formulation. To understand the reaction mechanism of the deposition process, a kinetic study was performed by cyclic voltammetry and by electrochemical impedance spectroscopy (EIS). The coatings obtained have a very high corrosion resistance in a very aggressive acid medium which increases with the heat treatment.
Keywords: Ni–P coating, electrochemical impedance spectroscopy, heat treatment, cyclic voltammetry, potentiodynamic polarization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12503727 Multiband CPW-Fed Slot Antenna with L-slot Bowtie Tuning Stub
Authors: Prapoch Jirasakulporn
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This paper presents a multiband CPW-fed slot antenna with L-slot bowtie tuning stub. The proposed antenna has been designed for PCS 1900, UMTS, WLAN 802.11 a/b/g and bluetooth applications, with a cost-effective FR4 substrate. The proposed antenna still radiate as omni-directional in azimuth plane and sufficient bandwidth for all above mentions. The proposed antenna works as dual-wideband, bandwidth at low frequency band and high frequency are about 45.49 % and 22.39 % respectively. The experimental results of the constructed prototype are presented and also compared with simulation results using a commercial software tool.Keywords: multiband antenna, slot antenna, CPW-fed, L-slotbowtie stub
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21753726 Hardware Centric Machine Vision for High Precision Center of Gravity Calculation
Authors: Xin Cheng, Benny Thörnberg, Abdul Waheed Malik, Najeem Lawal
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We present a hardware oriented method for real-time measurements of object-s position in video. The targeted application area is light spots used as references for robotic navigation. Different algorithms for dynamic thresholding are explored in combination with component labeling and Center Of Gravity (COG) for highest possible precision versus Signal-to-Noise Ratio (SNR). This method was developed with a low hardware cost in focus having only one convolution operation required for preprocessing of data.Keywords: Dynamic thresholding, segmentation, position measurement, sub-pixel precision, center of gravity.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23563725 Emerging VC Industry: Do Market Expectations Play the Most Important Role in Project Selection? Evidence on Russian Data
Authors: I. Rodionov, A. Semenov, E. Gosteva, O. Sokolova
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The venture capital becomes more and more advanced and effective source of the innovation project financing, connected with a high-risk level. In the developed countries, it plays a key role in transforming innovation projects into successful businesses and creating the prosperity of the modern economy. In Russia, there are many necessary preconditions for creation of the effective venture investment system: the network of the public institutes for innovation financing operates; there is a significant number of the small and medium-sized enterprises, capable to sell production with good market potential. However, the current system does not confirm the necessary level of efficiency in practice that can be substantially explained by the absence of the accurate plan of action to form the national venture model and by the lack of experience of successful venture deals with profitable exits in Russian economy. This paper studies the influence of various factors on the venture industry development by the example of the IT-sector in Russia. The choice of the sector is based on the fact, that this segment is the main driver of the venture capital market growth in Russia, and the necessary set of data exists. The size of investment of the second round is used as the dependent variable. To analyse the influence of the previous round, such determinant as the volume of the previous (first) round investments is used. There is also used a dummy variable in regression to examine that the participation of an investor with high reputation and experience in the previous round can influence the size of the next investment round. The regression analysis of short-term interrelations between studied variables reveals prevailing influence of the volume of the first round investments on the venture investments volume of the second round. The most important determinant of the value of the second-round investment is the value of first–round investment, so it means that the most competitive on the Russian market are the start-up teams that can attract more money on the start, and the target market growth is not the factor of crucial importance. This supports the point of view that VC in Russia is driven by endogenous factors and not by exogenous ones that are based on global market growth.Keywords: Venture industry, venture investment, determinants of the venture sector development, IT-sector.
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