Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1822

Search results for: Asset size

1822 An Approach to Manage and Evaluate Asset Performance

Authors: Mohammed S. ALSaidi, John P. Mo

Abstract:

Modern engineering assets are complex and very high in value. They are expected to function for years to come, with ability to handle the change in technology and ageing modification. The aging of an engineering asset and continues increase of vendors and contractors numbers forces the asset operation management (or Owner) to design an asset system which can capture these changes. Furthermore, an accurate performance measurement and risk evaluation processes are highly needed. Therefore, this paper explores the nature of the asset management system performance evaluation for an engineering asset based on the System Support Engineering (SSE) principles. The research work explores the asset support system from a range of perspectives, interviewing managers from across a refinery organization. The factors contributing to complexity of an asset management system are described in context which clusters them into several key areas. It is proposed that SSE framework may then be used as a tool for analysis and management of asset. The paper will conclude with discussion of potential application of the framework and opportunities for future research.

Keywords: Asset management, performance, evaluation.

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1821 The Impact of Bank Consolidation on the Performance of SMES in Nigeria

Authors: Okolo Chimaobi Valentine

Abstract:

This paper seeks to assess the implications of bank consolidation on the performance of small and medium scale enterprises in the Nigerian economy. Multiple linear regression technique and correlation matrix test were employed to measure the extent to which small and medium scale enterprises asset size, survival and access to credit were influenced. The result showed that bank deposit (BD) and bank credit (L or BC) impacted on asset size and survival of small and medium scale enterprises. None of the variables had significant impact on SMEs access to credit. There is a shift of focus by commercial banks away from small and medium scale enterprises (small customers), which is evidenced by the significant negative influence of bank credit to both the survival and asset size of small and medium enterprises. While micro finance banks work hard at providing funds to small and medium scale entrepreneurs, their capacity to meet the needs of these entrepreneurs is constrained. CBN should make policies that will boost micro finance bank’s capital and also monitor closely the management of the banks to ensure prudent financing of small and medium scale investments.

Keywords: Bank consolidation, small and medium enterprises.

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1820 Approaches to Determining Optimal Asset Structure for a Commercial Bank

Authors: Svetlana Saksonova

Abstract:

Every commercial bank optimises its asset portfolio depending on the profitability of assets and chosen or imposed constraints. This paper proposes and applies a stylized model for optimising banks' asset and liability structure, reflecting profitability of different asset categories and their risks as well as costs associated with different liability categories and reserve requirements. The level of detail for asset and liability categories is chosen to create a suitably parsimonious model and to include the most important categories in the model. It is shown that the most appropriate optimisation criterion for the model is the maximisation of the ratio of net interest income to assets. The maximisation of this ratio is subject to several constraints. Some are accounting identities or dictated by legislative requirements; others vary depending on the market objectives for a particular bank. The model predicts variable amount of assets allocated to loan provision.

Keywords: asset structure, commercial bank, model, optimisation

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1819 Determinants of Capital Structure in Malaysia Electrical and Electronic Sector

Authors: Mazila Md-Yusuf, Fauziah Mohamad Yunus, Nur Zahraatul Lail Md Supaat

Abstract:

Capital structure is one of the most important financial decisions in corporate financing strategy. It involves the choice of debt and equity level in financing a company-s operations. This study aims to investigate whether the capital structure choice of Malaysian electrical and electronic manufacturing companies that are listed in the Bursa Malaysia can be explained by factors that have been found by most studies as dominant determinants of capital structure (company size, profitability, asset tangibility, liquidity and growth). Using debt ratio as the proxy for capital structure and applying pooled ordinary least square multiple regression estimation, the results showed that on average, Malaysian electrical and electronic manufacturing companies used less debt in funding their business operations. The findings also showed that size and asset tangibility has a significant positive relationship with debt level, while liquidity has a negative significant relationship with leverage.

Keywords: Capital structure, capital structure theories, leverage, manufacturing companies.

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1818 Fair Value Implementation of Financial Asset: Evidence in Indonesia’s Banking Sector

Authors: Alhamdi Alfi Fajri

Abstract:

The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.

Keywords: Fair value, PSAK No. 55, PSAK No. 60, information asymmetry, banks.

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1817 Indoor Mapping by using Smartphone Device

Authors: Shuib Rambat, Ruzsyahriman Jenal, John Elgy

Abstract:

This paper presented the potential of smart phone to provide support on mapping the indoor asset. The advantage of using the smart phone to generate the indoor map is that it has the ability to capture, store and reproduces still or video images; indeed most of us do have this powerful gadget. The captured images usually used by maintenance team to save a record for future reference. Here, these images are used to generate 3D models of an object precisely and accurately for efficient and effective solution in data gathering. Thus, it could be a resource for an informative database in asset management.

Keywords: 3D modeling, Asset Management, Object Extraction, Smart Device

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1816 Level of Service Based Methodology for Municipal Infrastructure Management

Authors: Z. Khan, O. Moselhi, T. Zayed

Abstract:

Development of levels of service in municipal context is a flexible vehicle to assist in performing quality-cost trade-off analysis for municipal services. This trade-off depends on the willingness of a community to pay as well as on the condition of the assets. Community perspective of the performance of an asset from service point of view may be quite different from the municipality perspective of the performance of the same asset from condition point of view. This paper presents a three phased level of service based methodology for water mains that consists of :1)development of an Analytical Hierarchy model of level of service 2) development of Fuzzy Weighted Sum model of water main condition index and 3) deriving a Fuzzy logic based function that maps level of service to asset condition index. This mapping will assist asset managers in quantifying condition improvement requirement to meet service goals and to make more informed decisions on interventions and relayed priorities.

Keywords: Asset Management, Level of Service, Condition Index, Analytical Hierarchy, Fuzzy Logic.

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1815 Optimal Portfolio Selection in a DC Pension with Multiple Contributors and the Impact of Stochastic Additional Voluntary Contribution on the Optimal Investment Strategy

Authors: Edikan E. Akpanibah, Okwigbedi Oghen’Oro

Abstract:

In this paper, we studied the optimal portfolio selection in a defined contribution (DC) pension scheme with multiple contributors under constant elasticity of variance (CEV) model and the impact of stochastic additional voluntary contribution on the investment strategies. We assume that the voluntary contributions are stochastic and also consider investments in a risk free asset and a risky asset to increase the expected returns of the contributing members. We derived a stochastic differential equation which consists of the members’ monthly contributions and the invested fund and obtained an optimized problem with the help of Hamilton Jacobi Bellman equation. Furthermore, we find an explicit solution for the optimal investment strategy with stochastic voluntary contribution using power transformation and change of variables method and the corresponding optimal fund size was obtained. We discussed the impact of the voluntary contribution on the optimal investment strategy with numerical simulations and observed that the voluntary contribution reduces the optimal investment strategy of the risky asset.

Keywords: DC pension fund, Hamilton-Jacobi-Bellman, optimal investment strategies, power transformation method, stochastic, voluntary contribution.

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1814 In Search of Zero Beta Assets: Evidence from the Sukuk Market

Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

Abstract:

The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: Asset allocation, asset performance, sukuk, zero beta asset.

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1813 Asset Management for Educational Buildings in Egypt

Authors: M. Abdelhamid, I. Beshara, M. Ghoneim

Abstract:

In Egypt, the concept of Asset Management (AM) is new; however, the need for applying it has become crucial because deteriorating or losing an asset is unaffordable in a developing country like Egypt. Therefore the current study focuses on educational buildings as one of the most important assets regarding planning, building, operating and maintenance expenditures. The main objective of this study is to develop a SAMF for educational buildings in Egypt. The General Authority for Educational Buildings (GAEB) was chosen as a case study of the current research as it represents the biggest governmental organization responsible for planning, operating and maintaining schools in Egypt. To achieve the research objective, structured interviews were conducted with senior managers of GAEB using a pre designed questionnaire to explore the current practice of AM. Gab analysis technique was applied against best practices compounded from a vast literature review to identify gaps between current practices and the desired one. The previous steps mainly revealed; limited knowledge about strategic asset management, no clear goals, no training, no real risk plan and lack of data, technical and financial resources. Based on the findings, a SAMF for GAEB was introduced and Framework implementation steps and assessment techniques were explained in detail.

Keywords: Strategic Asset Management, Educational Building, Framework, Gab Analysis, Developing Country.

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1812 Size Control of Nanoparticles Using a Microfluidic Device

Authors: Shigenori Togashi, Erika Katayama, Mitsuhiro Matsuzawa

Abstract:

We have developed a microfluidic device system for the continuous producting of nanoparticles, and we have clarified the relationship between the mixing performance of reactors and the particle size. First, we evaluated the mixing performance of reactors by carring out the Villermaux–Dushman reaction and determined the experimental conditions for producing AgCl nanoparticles. Next, we produced AgCl nanoparticles and evaluated the mixing performance and the particle size. We found that as the mixing performance improves the size of produced particles decreases and the particle size distribution becomes sharper. We produced AgCl nanoparticles with a size of 86 nm using the microfluidic device that had the best mixing performance among the three reactors we tested in this study; the coefficient of variation (Cv) of the size distribution of the produced nanoparticles was 26.1%.

Keywords: Microfluidic, Mixing, Nanoparticle, Silver Chloride.

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1811 Fifth Order Variable Step Block Backward Differentiation Formulae for Solving Stiff ODEs

Authors: S.A.M. Yatim, Z.B. Ibrahim, K.I. Othman, F. Ismail

Abstract:

The implicit block methods based on the backward differentiation formulae (BDF) for the solution of stiff initial value problems (IVPs) using variable step size is derived. We construct a variable step size block methods which will store all the coefficients of the method with a simplified strategy in controlling the step size with the intention of optimizing the performance in terms of precision and computation time. The strategy involves constant, halving or increasing the step size by 1.9 times the previous step size. Decision of changing the step size is determined by the local truncation error (LTE). Numerical results are provided to support the enhancement of method applied.

Keywords: Backward differentiation formulae, block backwarddifferentiation formulae, stiff ordinary differential equation, variablestep size.

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1810 Comparative Study of Tensile Properties of Cortical Bone Using Sub-size Specimens and Finite Element Simulation

Authors: N. K. Sharma, J. Nayak, D. K. Sehgal, R. K. Pandey

Abstract:

Bone material is treated as heterogeneous and hierarchical in nature therefore appropriate size of bone specimen is required to analyze its tensile properties at a particular hierarchical level. Tensile properties of cortical bone are important to investigate the effect of drug treatment, disease and aging as well as for development of computational and analytical models. In the present study tensile properties of buffalo as well as goat femoral and tibiae cortical bone are analyzed using sub-size tensile specimens. Femoral cortical bone was found to be stronger in tension as compared to the tibiae cortical bone and the tensile properties obtained using sub-size specimens show close resemblance with the tensile properties of full-size cortical specimens. A two dimensional finite element (FE) modal was also applied to simulate the tensile behavior of sub-size specimens. Good agreement between experimental and FE model was obtained for sub-size tensile specimens of cortical bone.

Keywords: Cortical bone, sub-size specimen, full size specimen, finite element modeling.

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1809 Modelling the States of Public Client Participation in Public Private Partnership Arrangements

Authors: Eisa A. Alsafran, Francis T. Edum-Fotwe, Wayne E. Lord

Abstract:

The degree to which a public client actively participates in Public Private Partnership (PPP) schemes, is seen as a determinant of the success of the arrangement, and in particular, efficiency in the delivery of the assets of any infrastructure development. The asset delivery is often an early barometer for judging the overall performance of the PPP. Currently, there are no defined descriptors for the degree of such participation. The lack of defined descriptors makes the association between the degree of participation and efficiency of asset delivery, difficult to establish. This is particularly so if an optimum effect is desired. In addition, such an association is important for the strategic decision to embark on any PPP initiative. This paper presents a conceptual model of different levels of participation that characterise PPP schemes. The modelling was achieved by a systematic review of reported sources that address essential aspects and structures of PPP schemes, published from 2001 to 2015. As a precursor to the modelling, the common areas of Public Client Participation (PCP) were investigated. Equity and risk emerged as two dominant factors in the common areas of PCP, and were therefore adopted to form the foundation of the modelling. The resultant conceptual model defines the different states of combined PCP. The defined states provide a more rational basis for establishing how the degree of PCP affects the efficiency of asset delivery in PPP schemes.

Keywords: Asset delivery, infrastructure development, public private partnership, public client participation.

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1808 Feasibility Investigation of Near Infrared Spectrometry for Particle Size Estimation of Nano Structures

Authors: A. Bagheri Garmarudi, M. Khanmohammadi, N. Khoddami, K. Shabani

Abstract:

Determination of nano particle size is substantial since the nano particle size exerts a significant effect on various properties of nano materials. Accordingly, proposing non-destructive, accurate and rapid techniques for this aim is of high interest. There are some conventional techniques to investigate the morphology and grain size of nano particles such as scanning electron microscopy (SEM), atomic force microscopy (AFM) and X-ray diffractometry (XRD). Vibrational spectroscopy is utilized to characterize different compounds and applied for evaluation of the average particle size based on relationship between particle size and near infrared spectra [1,4] , but it has never been applied in quantitative morphological analysis of nano materials. So far, the potential application of nearinfrared (NIR) spectroscopy with its ability in rapid analysis of powdered materials with minimal sample preparation, has been suggested for particle size determination of powdered pharmaceuticals. The relationship between particle size and diffuse reflectance (DR) spectra in near infrared region has been applied to introduce a method for estimation of particle size. Back propagation artificial neural network (BP-ANN) as a nonlinear model was applied to estimate average particle size based on near infrared diffuse reflectance spectra. Thirty five different nano TiO2 samples with different particle size were analyzed by DR-FTNIR spectrometry and the obtained data were processed by BP- ANN.

Keywords: near infrared, particle size, chemometrics, neuralnetwork, nano structure.

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1807 The Effects of Software Size on Development Effort and Software Quality

Authors: Zhizhong Jiang, Peter Naudé, Binghua Jiang

Abstract:

Effective evaluation of software development effort is an important issue during project plan. This study provides a model to predict development effort based on the software size estimated with function points. We generalize the average amount of effort spent on each phase of the development, and give the estimates for the effort used in software building, testing, and implementation. Finally, this paper finds a strong correlation between software defects and software size. As the size of software constantly increases, the quality remains to be a matter which requires major concern.

Keywords: Development effort, function points, software quality, software size.

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1806 Shariah Views on the Components of Profit Rate in Al-Murabahah Asset Financing in Malaysian Islamic Bank

Authors: M. Pisol B Mat Isa, Asmak Ab Rahman, Hezlina Bt M Hashim, Abd Mutalib B Embong

Abstract:

Al-Murabahah is an Islamic financing facility used in asset financing, the profit rate of the contract is determined by components which are also being used in the conventional banking. Such are cost of fund, overhead cost, risk premium cost and bank-s profit margin. At the same time, the profit rate determined by Islamic banking system also refers to Inter-Bank Offered Rate (LIBOR) in London as a benchmark. This practice has risen arguments among Muslim scholars in term of its validity of the contract; whether the contract maintains the Shariah compliance or not. This paper aims to explore the view of Shariah towards the above components practiced by Islamic Banking in determining the profit rate of al-murabahah asset financing in Malaysia. This is a comparative research which applied the views of Muslim scholars from all major mazahibs in Islamic jurisprudence and examined the practices by Islamic banks in Malaysia for the above components. The study found that the shariah accepts all the components with conditions. The cost of fund is accepted as a portion of al-mudarabah-s profit, the overhead cost is accepted as a cost of product, risk premium cost consist of business risk and mitigation risk are accepted through the concept of alta-awun and bank-s profit margin is accepted as a right of bank after venturing in risky investment.

Keywords: Islamic banking, Islamic finance, al-murabahah and asset financing

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1805 Many-Sided Self Risk Analysis Model for Information Asset to Secure Stability of the Information and Communication Service

Authors: Jin-Tae Lee, Jung-Hoon Suh, Sang-Soo Jang, Jae-Il Lee

Abstract:

Information and communication service providers (ICSP) that are significant in size and provide Internet-based services take administrative, technical, and physical protection measures via the information security check service (ISCS). These protection measures are the minimum action necessary to secure the stability and continuity of the information and communication services (ICS) that they provide. Thus, information assets are essential to providing ICS, and deciding the relative importance of target assets for protection is a critical procedure. The risk analysis model designed to decide the relative importance of information assets, which is described in this study, evaluates information assets from many angles, in order to choose which ones should be given priority when it comes to protection. Many-sided risk analysis (MSRS) grades the importance of information assets, based on evaluation of major security check items, evaluation of the dependency on the information and communication facility (ICF) and influence on potential incidents, and evaluation of major items according to their service classification, in order to identify the ISCS target. MSRS could be an efficient risk analysis model to help ICSPs to identify their core information assets and take information protection measures first, so that stability of the ICS can be ensured.

Keywords: Information Asset, Information CommunicationFacility, Evaluation, ISCS (Information Security Check Service), Evaluation, Grade.

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1804 Exploring the Effect of Accounting Information on Systematic Risk: An Empirical Evidence of Tehran Stock Exchange

Authors: Mojtaba Rezaei, Elham Heydari

Abstract:

This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.

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1803 Variable Step-Size APA with Decorrelation of AR Input Process

Authors: Jae Wook Shin, Ju-man Song, Hyun-Taek Choi, Poo Gyeon Park

Abstract:

This paper introduces a new variable step-size APA with decorrelation of AR input process is based on the MSD analysis. To achieve a fast convergence rate and a small steady-state estimation error, he proposed algorithm uses variable step size that is determined by minimising the MSD. In addition, experimental results show that the proposed algorithm is achieved better performance than the other algorithms.

Keywords: adaptive filter, affine projection algorithm, variable step size.

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1802 The Effect of Nonnormality on CB-SEM and PLS-SEM Path Estimates

Authors: Z. Jannoo, B. W. Yap, N. Auchoybur, M. A. Lazim

Abstract:

The two common approaches to Structural Equation Modeling (SEM) are the Covariance-Based SEM (CB-SEM) and Partial Least Squares SEM (PLS-SEM). There is much debate on the performance of CB-SEM and PLS-SEM for small sample size and when distributions are nonnormal. This study evaluates the performance of CB-SEM and PLS-SEM under normality and nonnormality conditions via a simulation. Monte Carlo Simulation in R programming language was employed to generate data based on the theoretical model with one endogenous and four exogenous variables. Each latent variable has three indicators. For normal distributions, CB-SEM estimates were found to be inaccurate for small sample size while PLS-SEM could produce the path estimates. Meanwhile, for a larger sample size, CB-SEM estimates have lower variability compared to PLS-SEM. Under nonnormality, CB-SEM path estimates were inaccurate for small sample size. However, CB-SEM estimates are more accurate than those of PLS-SEM for sample size of 50 and above. The PLS-SEM estimates are not accurate unless sample size is very large.  

Keywords: CB-SEM, Monte Carlo simulation, Normality conditions, Nonnormality, PLS-SEM.

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1801 The Effect of Insurance on Foreign Direct Investments Inflow to Nigeria

Authors: Chimaobi V. Okolo, Afamefuna J. Ani, Ebere U. Okolo

Abstract:

This paper seeks to assess the implications of insurance to foreign direct investment inflow in Nigeria. Multiple linear regression technique and correlation matrix test were employed to measure the extent to which foreign direct investment was influenced. The result showed that insurance premium (IP), asset size of insurance industry (AS), and total investment of the industry (TI) impacted significantly and positively on foreign direct investment inflow in Nigeria. There should be effective risk transfer mechanism and financial intermediation, which gives the investor confidence in the risk management strength of the host country.

Keywords: Foreign direct investment, insurance.

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1800 Stabilization of Angular-Shaped Riprap under Overtopping Flows

Authors: Dilavar Khan, Z. Ahmad

Abstract:

Riprap is mostly used to prevent erosion by flows down the steep slopes in river engineering. A total of 53 stability tests performed on angular riprap with a median stone size ranging from 15 to 278 mm and slope ranging from 1 to 40% are used in this study. The existing equations for the prediction of medium size of angular stones are checked for their accuracy using the available data. Predictions of median size using these equations are not satisfactory and results show deviation by more than ±20% from the observed values. A multivariable power regression analysis is performed to propose a new equation relating the median size with unit discharge, bed slope, riprap thickness and coefficient of uniformity. The proposed relationship satisfactorily predicts the median angular stone size with ±20% error. Further, the required size of the rounded stone is more than the angular stone for the same unit discharge and the ratio increases with unit discharge and also with embankment slope of the riprap.

Keywords: Angularity, Gradation, Riprap, Stabilization

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1799 Feasibility Study of MongoDB and Radio Frequency Identification Technology in Asset Tracking System

Authors: Mohd Noah A. Rahman, Afzaal H. Seyal, Sharul T. Tajuddin, Hartiny Md Azmi

Abstract:

Taking into consideration the real time situation specifically the higher academic institutions, small, medium to large companies, public to private sectors and the remaining sectors, do experience the inventory or asset shrinkages due to theft, loss or even inventory tracking errors. This happening is due to a zero or poor security systems and measures being taken and implemented in their organizations. Henceforth, implementing the Radio Frequency Identification (RFID) technology into any manual or existing web-based system or web application can simply deter and will eventually solve certain major issues to serve better data retrieval and data access. Having said, this manual or existing system can be enhanced into a mobile-based system or application. In addition to that, the availability of internet connections can aid better services of the system. Such involvement of various technologies resulting various privileges to individuals or organizations in terms of accessibility, availability, mobility, efficiency, effectiveness, real-time information and also security. This paper will look deeper into the integration of mobile devices with RFID technologies with the purpose of asset tracking and control. Next, it is to be followed by the development and utilization of MongoDB as the main database to store data and its association with RFID technology. Finally, the development of a web based system which can be viewed in a mobile based formation with the aid of Hypertext Preprocessor (PHP), MongoDB, Hyper-Text Markup Language 5 (HTML5), Android, JavaScript and AJAX programming language.

Keywords: RFID, asset tracking system, MongoDB, NoSQL.

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1798 The Influence of Clayey Pellet Size on Adsorption Efficiency of Metal Ions Removal from Waste Printing Developer

Authors: Kiurski S. Jelena, Ranogajec G. Jonjaua, Oros B. Ivana, Kecić S. Vesna

Abstract:

The adsorption efficiency of fired clayey pellets of 5 and 8 mm diameter size for Cu(II) and Zn(II) ion removal from a waste printing developer was studied. In order to investigate the influence of contact time, adsorbent mass and pellet size on the adsorption efficiency the batch mode was carried out. Faster uptake of copper ion was obtained with the fired clay pellets of 5 mm diameter size within 30 minutes. The pellets of 8 mm diameter size showed the higher equilibrium time (60 to 75 minutes) for copper and zinc ion. The results pointed out that adsorption efficiency increases with the increase of adsorbent mass. The maximal efficiency is different for Cu(II) and Zn(II) ion due to the pellet size. Therefore, the fired clay pellets of 5 mm diameter size present an effective adsorbent for Cu(II) ion removal (adsorption efficiency is 63.6%), whereas the fired clay pellets of 8 mm diameter size are the best alternative for Zn(II) ion removal (adsorption efficiency is 92.8%) from a waste printing developer.

Keywords: Adsorption efficiency, clayey pellet, metal ions, waste printing developer.

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1797 An Adequate Choice of Initial Sample Size for Selection Approach

Authors: Mohammad H. Almomani, Rosmanjawati Abdul Rahman

Abstract:

In this paper, we consider the effect of the initial sample size on the performance of a sequential approach that used in selecting a good enough simulated system, when the number of alternatives is very large. We implement a sequential approach on M=M=1 queuing system under some parameter settings, with a different choice of the initial sample sizes to explore the impacts on the performance of this approach. The results show that the choice of the initial sample size does affect the performance of our selection approach.

Keywords: Ranking and Selection, Ordinal Optimization, Optimal Computing Budget Allocation, Subset Selection, Indifference-Zone, Initial Sample Size.

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1796 Basket Option Pricing under Jump Diffusion Models

Authors: Ali Safdari-Vaighani

Abstract:

Pricing financial contracts on several underlying assets received more and more interest as a demand for complex derivatives. The option pricing under asset price involving jump diffusion processes leads to the partial integral differential equation (PIDEs), which is an extension of the Black-Scholes PDE with a new integral term. The aim of this paper is to show how basket option prices in the jump diffusion models, mainly on the Merton model, can be computed using RBF based approximation methods. For a test problem, the RBF-PU method is applied for numerical solution of partial integral differential equation arising from the two-asset European vanilla put options. The numerical result shows the accuracy and efficiency of the presented method.

Keywords: Radial basis function, basket option, jump diffusion, RBF-PUM.

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1795 Effect of Particle Size on Alkali-Activation of Slag

Authors: E. Petrakis, V. Karmali, K. Komnitsas

Abstract:

In this study grinding experiments were performed in a laboratory ball mill using Polish ferronickel slag in order to study the effect of the particle size on alkali activation and the properties of the produced alkali activated materials (AAMs). In this regard, the particle size distribution and the specific surface area of the grinding products in relation to grinding time were assessed. The experimental results show that products with high compressive strength, e.g. higher than 60 MPa, can be produced when the slag median size decreased from 39.9 μm to 11.9 μm. Also, finer fractions are characterized by higher reactivity and result in the production of AAMs with lower porosity and better mechanical properties.

Keywords: Alkali activated materials, compressive strength, particle size distribution, slag.

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1794 Preparation of ATO Conductive Particles with Narrow Size Distribution

Authors: Yueying Wu, Fengzhu Lv, Yihe Zhang, Zixian Xu

Abstract:

Antimosy-doped tin oxide (ATO) particles were prepared via chemical coprecipitation and reverse emulsion. The size and size distribution of ATO particles were obviously decreased via reverse microemulsion method. At the relatively high yield the ATO particles were nearly spherical in shape, meanwhile the crystalline structure and excellent conductivity were reserved, which could satisfy the requirement as composite fillers, such as dielectric filler of polyimide film.

Keywords: ATO particle, Conductivity, Distribution, Reverse emulsion

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1793 Modelling, Simulation and Validation of Plastic Zone Size during Deformation of Mild Steel

Authors: S. O. Adeosun, E. I. Akpan, S. A. Balogun, O. O. Taiwo

Abstract:

A model to predict the plastic zone size for material under plane stress condition has been developed and verified experimentally. The developed model is a function of crack size, crack angle and material property (dislocation density). Simulation and validation results show that the model developed show good agreement with experimental results. Samples of low carbon steel (0.035%C) with included surface crack angles of 45o, 50o, 60o, 70o and 90o and crack depths of 2mm and 4mm were subjected to low strain rate between 0.48 x 10-3 s-1 – 2.38 x 10-3 s-1. The mechanical properties studied were ductility, tensile strength, modulus of elasticity, yield strength, yield strain, stress at fracture and fracture toughness. The experimental study shows that strain rate has no appreciable effect on the size of plastic zone while crack depth and crack angle plays an imperative role in determining the size of the plastic zone of mild steel materials.

Keywords: Applied stress, crack angle, crack size, material property, plastic zone size, strain rate.

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