Search results for: Micro finance

Authors: N. Ikasari, T. Sumransat, U. Eko, R. Kusumastuti

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Small and medium enterprises (SMEs) are regarded as the engine for economic development, notwithstanding their continuous financing conundrum. In the case of developing countries, access to finance is a reflection of the effectiveness of government policy. The widely accepted perspective to assess small businesses’ access to finance is that of economic view. The existing body of literature presents access to finance in three dimensions; they are accessibility, eligibility and affordability. Within this perspective, the role of socio-cultural has not explored. This study is aimed at investigating the existence of any socio-cultural factors within access to finance issue in Asian countries where governance is enriched by countries’ values and beliefs. The significance of this study is the instigation of supplementary dimension to assess access to finance that eventually contributes to the development of micro-finance policy. Indonesia and Thailand are selected as cases in point, where distinction is drawn on the level of cultural diversity and micro-finance policy in respective country. A questionnaire is used to collect information related to the three dimensions of access to finance as well as to explore alternative financing reasoning to elaborate the issue from the demand side. Questionnaires are distributed to 60 small business owners operating in Indonesia and the same number in Thailand. In order to present a complete understanding on the matter at hand, interviews with banks are conducted to capture the perspective as presented by the supply side. Research findings show that small business owners and banks in Indonesia and Thailand are in agreement that access to finance is not deemed as an issue. However, trust issue that exists mutually between financing users and providers leads small business owners in Indonesia to look for alternative financing other than banks. The findings contribute to the refinement of micro-financing policy in Indonesia and Thailand.

Keywords: Access to finance, Indonesia, small and medium enterprises, Thailand.

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Authors: Y. Rathiranee, D. M. Semasinghe

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This study attempts to identify the factors influencing on women empowerment of rural area in Sri Lanka through micro finance services. Data were collected from one hundred (100) rural women involving self-employment activities through a questionnaire using direct personal interviews. Judgment and Convenience Random sampling technique was used to select the sample size from three Divisional Secretariat divisions of Kandawalai, Poonakari and Karachchi in Kilinochchi District. The factor analysis was performed on fourteen (14) variables for screening and reducing the variables to identify the influencing factors on empowerment. Multiple regression analysis was used to identify the relationship between the three empowerment factors and the impact of micro finance on overall empowerment of rural women. The result of this study summarized the variables into three factors namely decision making, freedom to mobility and family support and which are positively associated with empowerment. In addition to this the value of adjusted R2 is 0.248 indicates that all the variables extracted can be explained 24.8% of the variation in the women empowerment through microfinance. Independent variables of these three factors have positive correlation with women empowerment as well as significant values at 5 percent level.

Keywords: Influencing factors, Micro finance, rural women and women empowerment.

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Authors: Bo Wun Huang, Pu Ping Yu, Jao-Hwa Kuang

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For smaller mechatronic device, especially for micro Electronic system, a micro machining is a must. However, most investigations on vibration of a mill have been limited to the traditional type mill. In this article, vibration and dynamic characteristics of a micro mill were investigated in this study. The trend towards higher precision manufacturing technology requires producing miniaturized components. To improve micro-milled product quality, obtain a higher production rate and avoid milling breakage, the dynamic characteristics of micro milling must be studied. A stepped pre-twisted mill is used to simulate the micro mill. The finite element analysis is employed in this work. The flute length and diameter effects of the micro mill are considered. It is clear that the effects of micro mill shape parameters on vibration in a micro mill are significant.

Keywords: micro system, micro mill, vibration.

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Authors: Lars Silver, Björn Berggren, Andreas Fili

Abstract:

The financial crisis has decreased the opportunities of small businesses to acquire financing through conventional financial actors, such as commercial banks. This credit constraint is partly the reason for the emergence of new alternatives of financing, in addition to the spreading opportunities for communication and secure financial transfer through Internet. One of the most interesting venues for finance is termed “crowdfunding". As the term suggests crowdfunding is an appeal to prospective customers and investors to form a crowd that will finance projects that otherwise would find it hard to generate support through the most common financial actors. Crowdfunding is in this paper divided into different models; the threshold model, the microfinance model, the micro loan model and the equity model. All these models add to the financial possibilities of emerging entrepreneurs.

Keywords: Entrepreneurship, crowdfunding, equity finance, bank finance.

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Authors: Y. Haik

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The objective of this study is to present a micro mechanical pump that was fabricated using SwIFT™ microfabrication surface micromachining process and to demonstrate the feasibility of integrating such micro pump into a micro analysis system. The micropump circulates the bio-sample and magnetic nanoparticles through different compartments to separate and purify the targeted bio-sample. This article reports the flow characteristics in the microchannels and in a crescent micro pump.

Keywords: Crescent micropumps, microanalysis, nanoparticles.

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Authors: Yu Chen, Weiwei Ren, Xiaojing Mu, Feng Zhang, Yi Xu

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The superhydrophobic surface is widely used to reduce friction for the flow inside micro-channel and can be used to control/manipulate fluid, cells and even proteins in lab-on-chip. Fabricating micro grooves on hydrophobic surfaces is a common method to obtain such superhydrophobic surface. This study utilized the numerical method to investigate the effect of eccentric micro-grooves on the friction of flow inside micro-channel. A detailed parametric study was conducted to reveal how the eccentricity of micro-grooves affects the micro-channel flow under different grooves sizes, channel heights, Reynolds number. The results showed that the superhydrophobic surface with eccentric micro-grooves induces less friction than the counter part with aligning micro-grooves, which means requiring less power for pumps.

Keywords: Superhydrophobic, transverse grooves, heat transfer, slip length, microfluidics.

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Authors: Safa Ougoujil, Sidi Mohamed Rigar

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Economics is not an exact science. It cannot be from the moment it is a social science that concerns society organization, a human science that depends on the behavior of the men and women who make a part of this society. Therefore, it cannot ignore morality, the instinctive sense of good and evil, the natural order which place us between certain values, and which religion often sheds light on. In terms of finance, the reference to ethics is becoming more popular than ever. This is naturally due to the growing financial crises. Finance is less and less ethical, but some financial practices have continued to do so. This is the case of ethical finance and Islamic finance. After attempting to define the concepts of ethical finance and Islamic finance, in a period when financial innovation seeks to encourage differentiation in order to create more profit margins, this article attempts to expose the particularities, the convergences and the potentialities of development of these two sensibilities.

Keywords: Convergences, ethical finance, Islamic finance, potential development.

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Authors: Haiyan Wang

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Micro-reading is a new way of reading depended on short messages of mobile phones, network articles and short literary forms, which impacts greatly on traditional way of reading. The effect of "micro-reading" is deeper especially for those growing middle school students and college students. Aiming at the problem with the development of college students' micro-reading and based on the influence of schema theory on the research of cognition of reading, this paper is to analyze the comparison between micro-reading and traditional reading and explore reading strategies in micro-era based on the negative and positive effect which schema theory has on micro-reading.

Keywords: Schema theory, comparative analysis, micro-reading, traditional reading

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Authors: M. Ghanbari, S. Hossainpour, G. Rezazadeh

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In this paper, longitudinal vibration of a micro-beam in micro-scale fluid media has been investigated. The proposed mathematical model for this study is made up of a micro-beam and a micro-plate at its free end. An AC voltage is applied to the pair of piezoelectric layers on the upper and lower surfaces of the micro-beam in order to actuate it longitudinally. The whole structure is bounded between two fixed plates on its upper and lower surfaces. The micro-gap between the structure and the fixed plates is filled with fluid. Fluids behave differently in micro-scale than macro, so the fluid field in the gap has been modeled based on micro-polar theory. The coupled governing equations of motion of the micro-beam and the micro-scale fluid field have been derived. Due to having non-homogenous boundary conditions, derived equations have been transformed to an enhanced form with homogenous boundary conditions. Using Galerkin-based reduced order model, the enhanced equations have been discretized over the beam and fluid domains and solve simultaneously in order to obtain force response of the micro-beam. Effects of micro-polar parameters of the fluid as characteristic length scale, coupling parameter and surface parameter on the response of the micro-beam have been studied.

Keywords: Micro-polar theory, Galerkin method, MEMS, micro-fluid.

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Authors: Nan-Chyuan Tsai, Sheng-Liang Hsu

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An innovative tri-axes micro-power receiver is proposed. The tri-axes micro-power receiver consists of two sets 3-D micro-solenoids and one set planar micro-coils in which iron core is embedded. The three sets of micro-coils are designed to be orthogonal to each other. Therefore, no matter which direction the flux is present along, the magnetic energy can be harvested and transformed into electric power. Not only dead space of receiving power is mostly reduced, but also transformation efficiency of electromagnetic energy to electric power can be efficiently raised. By employing commercial software, Ansoft Maxwell, the preliminary simulation results verify that the proposed micro-power receiver can efficiently pick up the energy transmitted by magnetic power source. As to the fabrication process, the isotropic etching technique is employed to micro-machine the inverse-trapezoid fillister so that the copper wire can be successfully electroplated. The adhesion between micro-coils and fillister is much enhanced.

Keywords: Wireless Power Transmission, Magnetic Flux, Tri-axes Micro-power Receiver

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Authors: Chimaobi Valentine Okolo

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This paper seeks to assess the implications of bank consolidation on lending, which largely determine the survival and performance of small and medium scale enterprises and in turn the development of the Nigerian economy. Ordinary least square technique, correlation matrix test and Granger –causality test were employed to measure the extent to which lending to small and medium scale enterprises were influenced. The result showed that bank deposit (BD) impacted on lending to small and medium scale enterprises. Commercial and merchant bank lending rate had statistically insignificant effect on the dependent variable. There is a shift of focus by commercial banks from small and medium scale enterprises (small customers) to major investors (big customers). 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. The capital and deposits of micro finance bank should be boosted in order to effectively support small and medium scale enterprises through loans.

Keywords: Asset size, bank consolidation, lending, small and medium enterprises.

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Authors: Yusof. Mohd Kamir, Mat Deris. Mohd Sufian, Abidin. Ahmad Faisal Amri

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The purpose of this paper is to show efficiency and capability LZWµ in data compression. The LZWµ technique is enhancement from existing LZW technique. The modification the existing LZW is needed to produce LZWµ technique. LZW read one by one character at one time. Differ with LZWµ technique, where the LZWµ read three characters at one time. This paper focuses on data compression and tested efficiency and capability LZWµ by different data format such as doc type, pdf type and text type. Several experiments have been done by different types of data format. The results shows LZWµ technique is better compared to existing LZW technique in term of file size.

Keywords: Data Compression, Huffman Encoding, LZW, LZWµ, RLL, Size.

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Authors: B. G. Sheeparamatti, Prashant Hanasi, Vanita Abbigeri

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The objective of this work is to carryout critical comparison of different actuation mechanisms like electrostatic, thermal, piezoelectric, and magnetic with reference to a micro cantilever. The relevant parameters like force generated, displacement are compared in actuation methods. With these results, helps in choosing the best actuation method for a particular application. In this study, Comsol/Multiphysics software is used. Modeling and simulation is done by considering the micro cantilever of same dimensions as an actuator using all the above mentioned actuation techniques. In addition to their small size, micro actuators consume very little power and are capable of accurate results. In this work, a comparison of actuation mechanisms is done to decide the efficient system in micro domain.

Keywords: Actuation techniques, microswitch, micro actuator, microsystems.

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Authors: Reza Gheisari, Paulo J. Bartolo, Nicholas Goddard

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Polymeric micro-cantilevers (Cs) are rapidly becoming popular for MEMS applications such as chemo- and biosensing as well as purely electromechanical applications such as microrelays. Polymer materials present suitable physical and chemical properties combined with low-cost mass production. Hence, micro-cantilevers made of polymers indicate much more biocompatibility and adaptability of rapid prototyping along with mechanical properties. This research studies the effects of three process and one size factors on the filling behaviour in micro cavity, and the role of each in the replication of micro parts using different polymer materials i.e. polypropylene (PP) SABIC 56M10 and acrylonitrile butadiene styrene (ABS) Magnum 8434 . In particular, the following factors are considered: barrel temperature, mould temperature, injection speed and the thickness of micro features. The study revealed that the barrel temperature and the injection speed are the key factors affecting the flow length of micro features replicated in PP and ABS. For both materials, an increase of feature sizes improves the melt flow. However, the melt fill of micro features does not increase linearly with the increase of their thickness.

Keywords: Flow length, micro-cantilevers, micro injection moulding, microfabrication.

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Authors: Okolo Chimaobi Valentine

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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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Authors: Nhat Khoa Tran, Yee Cheong Lam, Chee Yoon Yue, Ming Jen Tan

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Metallic micro parts are playing an important role in micro-fabrication industry. Recently, we have demonstrated a new deformation mechanism for micro-formability of polycrystalline materials. Different depressed micro-features smaller than the grain size have been successfully fabricated on 6061 aluminum alloy (AA6061) substrates with good fidelity. To further verify this proposed deformation mechanism that grain size is not a limiting factor, we demonstrate here that in addition of depressed features, protruded micro-features on a polycrystalline substrate can similarly be fabricated.

Keywords: Deformation mechanism, grain size, microfabrication, polycrystalline materials.

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Authors: B. S. Akhmetov, P. T.Kharitonov, L. Sh.Balgabayeva, O. V. Kisseleva, T. S. Kartbayev

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This article analyzes the applicability of known renewable energy technical means as mobile power sources under the field and extreme conditions. The requirements are determined for the parameters of mobile micro HPP. The application prospectively of the mobile micro HPP with intelligent control systems is proved for this purpose. Variants of low-speed electric generators for micro HPP are given. Variants of designs for mobile micro HPP are presented with direct (gearless) transfer of torque from the hydraulic drive to the rotor of the electric generator. Variant of the hydraulic drive for micro HPP is described workable at low water flows. A general structure of the micro HPP intelligent system control is offered that implements the principle of maximum energy efficiency. The legitimacy of construction and application of mobile micro HPP is proved as electrical power sources for life safety of people under the field and extreme conditions.

Keywords: Mobile micro hydro power plants, information management systems, hydraulic drive.

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Authors: Paolo Pietro Biancone

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The spread of Islamic financial instruments is an opportunity to offer integration for the immigrant population and to attract, through the specific products, the richness of sovereign funds from the "Arab" countries. However, it is important to consider the possibility of comparing a traditional finance model, which in recent times has given rise to many doubts, with an "alternative" finance model, where the ethical aspect arising from religious principles is very important.

Keywords: Banks, Europe, Islamic Finance, Italy.

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Authors: Ahmed Jassim Shkarah, Mohd Yusoff Bin Sulaiman, Md Razali bin Hj Ayob

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A 3D-conjugate numerical investigation was conducted to predict heat transfer characteristics in a rectangular cross-sectional micro-channel employing simultaneously developing Tow-phase flows. The sole purpose for analyzing two phase flow heat transfer in rectangular micro channel is to pin point what are the different factors affecting this phenomenon. Different methods and techniques have been undertaken to analyze the equations arising constituting the flow of heat from gas phase to liquid phase and vice versa.Different models of micro channels have been identified and analyzed. How the geometry of micro channels affects their activity i.e. of circular and non-circular geometry has also been reviewed. To the study the results average Nusselt no plotted against the Reynolds no has been taken into consideration to study average heat exchange in micro channels against applied heat flux. High heat fluxes up to 140 W/cm2 were applied to investigate micro-channel thermal characteristics.

Keywords: Tow Phase flow, Micro channel, VOF.

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Authors: Junjie Chen, Deguang Xu

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The high energy density of hydrocarbon fuels creates a great opportunity to develop catalytic combustion based micro-power generation systems to meet increasing demands for micro-scale devices. In this work, the recent technological development progress in fundamental understanding of the catalytic combustion at micro-scales are reviewed. The underlying fundamental mechanisms, flame stability, hetero-homogeneous interaction, catalytic ignition, and catalytic reforming are reviewed in catalytic micro-scale combustion systems. Catalytic combustion and its design, diagnosis, and modeling operation are highlighted for micro-combustion application purpose; these fundamental aspects are reviewed. Finally, an overview of future studies is made. The primary objective of this review is to present an overview of the development of micro-power generators by focusing more on the advances and challenges in the fundamental understanding of the catalytic combustion at micro-scales.

Keywords: Micro-combustion, catalytic combustion, flame stability, hetero-homogeneous interaction, catalytic ignition, catalytic reforming.

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Authors: Taposh Roy, Dipankar Choudhury, Belinda Pingguan-Murphy

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The tribological outcomes of micro dent are found to be outstanding in many engineering and natural surfaces. Ceramic (Al₂O₃) is considered one of the most potential material to bearing surfaces particularly, artificial hip or knee implant. A well-defined micro dent on alumina oxide interface could further decrease friction and wear rate, thus increase their stability and durability. In this study we fabricated circular micro dent surface profiles (Dia: 400µm, Depth 20µm, P: 1.5mm; Dia: 400µm, Depth 20µm, P: 2mm) on pure Al₂O₃ (99.6%) substrate by using a micro tool machines. A preliminary tribological experiment was carried out to compare friction coefficient of these fabricated dent surfaces with that of non-textured surfaces. The experiment was carried on well know pin-on-disk specimens while other experimental parameters such as hertz pressure, speed, lubrication, and temperature were maintained to standard of simulated hip joints condition. The experiment results revealed that micro dent surface texture reduced 15%, 8% and 4% friction coefficient under 0.132,0.162, 0.187 GPa contact pressure respectively. Since this is a preliminary tribological study, we will pursue further experiments considering higher ranges of dent profiles and longer run experiments. However, the preliminary results confirmed the suitability of fabricating dent profile to ceramic surfaces by using micro tooling, and also their improved tribological performance in simulated hip joints.

Keywords: Micro dent, tribology, ceramic on ceramic hipjoints.

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Authors: Bo-Wun Huang, Jao-Hwa Kuang, J.-G. Tseng, Yan-De Wu

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An investigation of noise in a micro stepping motor is considered to study in this article. Because of the trend towards higher precision and more and more small 3C (including Computer, Communication and Consumer Electronics) products, the micro stepping motor is frequently used to drive the micro system or the other 3C products. Unfortunately, noise in a micro stepped motor is too large to accept by the customs. To depress the noise of a micro stepped motor, the dynamic characteristics in this system must be studied. In this article, a Visual Basic (VB) computer program speed controlled micro stepped motor in a digital camera is investigated. Karman KD2300-2S non-contract eddy current displacement sensor, probe microphone, and HP 35670A analyzer are employed to analyze the dynamic characteristics of vibration and noise in a motor. The vibration and noise measurement of different type of bearings and different treatment of coils are compared. The rotating components, bearings, coil, etc. of the motor play the important roles in producing vibration and noise. It is found that the noise will be depressed about 3~4 dB and 6~7 dB, when substitutes the copper bearing with plastic one and coats the motor coil with paraffin wax, respectively.

Keywords: micro motor, noise, vibration

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Authors: Abu Bakar Sedek Abdul Jamak, Saridan Abu Bakar, Zulkipli Ghazali, Roselind Wan

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The majority of micro-entrepreneurs in Malaysia operate very small-scaled business activities such as food stalls, burger stalls, night market hawkers, grocery stores, constructions, rubber and oil palm small holders, and other agro-based services and activities. Why are they venturing into entrepreneurship - is it for survival, out of interest or due to encouragement and assistance from the local government? And why is it that some micro-entrepreneurs are lagging behind in entrepreneurship, and what do they need to rectify this situation so that they are able to progress further? Furthermore, what are the skills that the micro entrepreneurs should developed to transform them into successful micro-enterprises and become small and medium-sized enterprises (SME)? This paper proposes a 7-Step approach that can serve as a basis for identification of critical entrepreneurial success factors that enable policy makers, practitioners, consultants, training managers and other agencies in developing tools to assist micro business owners. This paper also highlights the experience of one of the successful companies in Malaysia that has transformed from micro-enterprise to become a large organization in less than 10 years.

Keywords: Entrepreneurship, Micro-entrepreneurs, Transformation, Customers

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Authors: Nan-Chyuan Tsai, Jiun-Sheng Liou, Chih-Che Lin, Tuan Li

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For micro-gyroscopes, the angular rate detection components have to oscillate forwards and backwards alternatively. An innovative design of micro-electromagnetic drive module is proposed to make a Π-type disc reciprocally and efficiently rotate within a certain of angular interval. Twelve Electromagnetic poles enclosing the thin disc are designed to provide the magnetic drive power. Isotropic etching technique is employed to fabricate the high-aspect-ratio trench, so that the contact angle of wire against trench can be increased and the potential defect of cavities and pores within the wire can be prevented. On the other hand, a Π-type thin disc is designed to conduct the pitch motion as an angular excitation, in addition to spinning, is exerted on the gyroscope. The efficacy of the micro-magnetic drive module is verified by the commercial software, Ansoft Maxewll. In comparison with the conventional planar windings in micro-scale systems, the magnetic drive force is increased by 150%.

Keywords: Micro-gyroscope, micro-electromagnetic, micro actuator.

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Authors: Barbora Chmelíková

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Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason, this study analyses financial knowledge, financial behavior, and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, such as financial knowledge, personal finance behavior, or decisionmaking. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.

Keywords: Financial literacy, financial behavior, personal finance management, university students.

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Authors: Ufaith Qadri, M Marouf Wani

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In this paper, the performance and emission characteristics of a Single Cylinder Spark Ignition engine have been investigated. The research is based on micro emulsion application as fuel in a gasoline engine. We have analyzed many micro emulsion compositions in various proportions, for predicting the performance of the Spark Ignition engine. This new technology of fuel modifications is emerging very rapidly as lot of research is going on in the field of micro emulsion fuels in Compression Ignition engines, but the micro emulsion fuel used in a Gasoline engine is very rare. The use of micro emulsion as fuel in a Spark Ignition engine is virtually unexplored. So, our main goal is to see the performance and emission characteristics of micro emulsions as fuel, in Spark Ignition engines, and finding which composition is more efficient. In this research, we have used various micro emulsion fuels whose composition varies for all the three blends, and their performance and emission characteristic were predicted in AVL Boost software. Conventional Gasoline fuel 90%, 80% and 85% were blended with co-surfactant Ethanol in different compositions, and water was used as an additive for making it crystal clear transparent micro emulsion fuel, which is thermodynamically stable. By comparing the performances of engines, the power has shown similarity for micro emulsion fuel and conventional Gasoline fuel. On the other hand, Torque and BMEP shows increase for all the micro emulsion fuels. Micro emulsion fuel shows higher thermal efficiency and lower Specific Fuel Consumption for all the compositions as compared to the Gasoline fuel. Carbon monoxide and Hydro carbon emissions were also measured. The result shows that emissions decrease for all the composition of micro emulsion fuels, and proved to be the most efficient fuel both in terms of performance and emission characteristics.

Keywords: AVL Boost, emissions, micro emulsion, performance, SI engine.

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Authors: Salah Gariani, Islam Shyha, Fawad Inam, Dehong Huo

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A controlled cutting fluid impinging supply system (CUT-LIST) was developed to deliver an accurate amount of cutting fluid into the machining zone via well-positioned coherent nozzles based on a calculation of the heat generated. The performance of the CUT-LIST was evaluated against a conventional flood cutting fluid supply system during step shoulder milling of Ti-6Al-4V using vegetable oil-based cutting fluid. In this paper, the micro-hardness of the machined surface was used as the main criterion to compare the two systems. CUT-LIST provided significant reductions in cutting fluid consumption (up to 42%). Both systems caused increased micro-hardness value at 100 µm from the machined surface, whereas a slight reduction in micro-hardness of 4.5% was measured when using CUL-LIST. It was noted that the first 50 µm is the soft sub-surface promoted by thermal softening, whereas down to 100 µm is the hard sub-surface caused by the cyclic internal work hardening and then gradually decreased until it reached the base material nominal hardness. It can be concluded that the CUT-LIST has always given lower micro-hardness values near the machined surfaces in all conditions investigated.

Keywords: Impinging supply system, micro-hardness, shoulder milling, Ti-6Al-4V, vegetable oil-based cutting fluid.

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Authors: Barbora Chmelíková

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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: Financial decision-making, financial literacy, personal finance, university students.

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Authors: A. Mobini, K. Saghafi, V. Ahmadi

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in this paper we modified a simple two-dimensional photonic crystal waveguide by creating micro cavity resonators in order to increase the output light emission which can be applicable to photonic integrated circuits. The micro cavity resonators are constructed by removing two tubes close to the waveguide output. Coupling emitted light from waveguide with those micro cavities, results increasing intensity of waveguide output light. Inserting a tube in last row of waveguide, we have improved directionality of output light beam.

Keywords: photonic crystal, waveguide, micro cavity resonators, directional emission

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Authors: Chiang-Ho Cheng, An-Shik Yang, Hong-Yih Cheng, Ming-Yu Lai

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This paper presents the design and fabrication of a novel piezoelectric actuator for a gas micro pump with check valve having the advantages of miniature size, light weight and low power consumption. The micro pump is designed to have eight major components, namely a stainless steel upper cover layer, a piezoelectric actuator, a stainless steel diaphragm, a PDMS chamber layer, two stainless steel channel layers with two valve seats, a PDMS check valve layer with two cantilever-type check valves and an acrylic substrate. A prototype of the gas micro pump, with a size of 52 mm × 50 mm × 5.0 mm, is fabricated by precise manufacturing. This device is designed to pump gases with the capability of performing the self-priming and bubble-tolerant work mode by maximizing the stroke volume of the membrane as well as the compression ratio via minimization of the dead volume of the micro pump chamber and channel. By experiment apparatus setup, we can get the real-time values of the flow rate of micro pump and the displacement of the piezoelectric actuator, simultaneously. The gas micro pump obtained higher output performance under the sinusoidal waveform of 250 Vpp. The micro pump achieved the maximum pumping rates of 1185 ml/min and back pressure of 7.14 kPa at the corresponding frequency of 120 and 50 Hz.

Keywords: PDMS, Check valve, Micro pump, Piezoelectric.

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