Search results for: carbon stock
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1049

Search results for: carbon stock

899 Retrofitting Measures for Existing Housing Stock in Kazakhstan

Authors: S. Yessengabulov, A. Uyzbayeva

Abstract:

Residential buildings fund of Kazakhstan was built in the Soviet time about 35-60 years ago without considering energy efficiency measures. Currently, most of these buildings are in a rundown condition and fail to meet the minimum of hygienic, sanitary and comfortable living requirements. The paper aims to examine the reports of recent building energy survey activities in the country and provide a possible solution for retrofitting existing housing stock built before 1989 which could be applicable for building envelope in cold climate. Methodology also includes two-dimensional modeling of possible practical solutions and further recommendations.

Keywords: Energy audit, energy efficient buildings in Kazakhstan, retrofit, two-dimensional conduction heat transfer analysis

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898 The Strategy of Creating a Virtual Interactive Platform for the Low-Carbon Open Innovations Relay

Authors: Mykola S. Shestavin

Abstract:

A strategy for the creation of a Virtual Interactive Platform (or Networking Platform) to combine the four web-baseness of expert systems on the transfer and diffusion of low-carbon technologies. It used the concept of “Open Innovation” and “Triple Helix” with regard to theories of “Green Growth” and “Carbon Footprint”. Interpreters expert systems operate on the basis of models of the “Predator-Prey” for the process of transfer and diffusion of technologies, taking into account the features caused by the need to mitigate the effects of climate change.

Keywords: Climate Change, Expert Systems, Low-Carbon Technology, Open Innovation, Virtual Interactive Platform.

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897 Mitigation of Nitrate Pollution in Wastewater: A Case Study of the Treatment of Cassava Processing Effluent Using Cassava Peel Carbon Material

Authors: Olayinka Omotosho

Abstract:

The study investigated efficiency cassava peel carbon and Zinc Chloride activated cassava peel carbon at 1:3, 2:3 and 1:1 activation levels in the removal of nitrates from oxidized cassava processing wastewater. Results showed that the CPC and CPAC were effective in adsorption of nitrates. A summary of results from the study revealed that CPAC at 1:3 exhibited the highest initial decontamination (69.5% after 2 hrs) while CPAC at 1:1 activation ratio showed a slower initial decontamination rate. The CPC & CPAC exhibited Langmuir Rα values of 0.15, 0.11, 0.09, and 0.07 for the 0:1, 1:3, 2:3 and 1:1 confirming its suitability as adsorption material.

Keywords: Adsorption, Cassava, Activated Carbon, Nitrate, Isotherm, Langmuir.

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896 Synthesis, Characterization and Performance Study of Newly Developed Amine Polymeric Membrane (APM) for Carbon Dioxide (CO2) Removal

Authors: Rizwan Nasir, Hilmi Mukhtar, Zakaria Man, Dzeti Farhah Mohshim

Abstract:

Carbon dioxide has been well associated with greenhouse effect, and due to its corrosive nature it is an undesirable compound. A variety of physical-chemical processes are available for the removal of carbon dioxide. Previous attempts in this field have established alkanolamine group has the capability to remove carbon dioxide. So, this study combined the polymeric membrane and alkanolamine solutions to fabricate the amine polymeric membrane (APM) to remove carbon dioxide (CO2). This study entails the effect of three types of amines, monoethanolamine (MEA), diethanolamine (DEA), and methyldiethanolamine (MDEA). The effect of each alkanolamine group on the morphology and performance of polyether sulfone (PES) polymeric membranes was studied. Flat sheet membranes were fabricated by solvent evaporation method by adding polymer and different alkanolamine solutions in the N-Methyl-2-pyrrolidone (NMP) solvent. The final membranes were characterized by using Field Emission Electron Microscope (FESEM), Fourier Transform Infrared (FTIR), and Thermo-Gravimetric Analysis (TGA). The membrane separation performance was studied. The PES-DEA and PES-MDEA membrane has good ability to remove carbon dioxide. 

Keywords: Amine Polymeric membrane, Alkanolamine solution, CO2 Removal, Characterization.

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895 Tensile Behavior of Spheroidizing Heat Treated High Carbon Steel

Authors: Seok Hong Min, Tae Kwon Ha

Abstract:

Spheroidization heat treatment was conducted on the  SK85 high carbon steel sheets with various initial microstructures  obtained after cold rolling by various reduction ratios at a couple of  annealing temperatures. On the high carbon steel sheet with fine  pearlite microstructure, obtained by soaking at 800oC for 2hr in a box furnace and then annealing at 570oC for 5min in a salt bath furnace followed by water quenching, cold rolling was conducted by reduction ratios of 20, 30, and 40%. Heat treatment for spheroidization was carried out at 600 and 720oC for the various time intervals from 0.1 to 32 hrs. Area fraction of spheroidized cementite was measured with an image analyzer as a function of cold reduction ratios and duration times. Tensile tests were carried out at room temperature on the spheoidized high carbon steel.

 

Keywords: High carbon steel, SK85, pearlite, cementite, shperoidization, tensile behavior.

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894 Equilibrium Modeling of Carbon Dioxide Adsorption on Zeolites

Authors: Alireza Behvandi, Somayeh Tourani

Abstract:

High pressure adsorption of carbon dioxide on zeolite 13X was investigated in the pressure range (0 to 4) Mpa and temperatures 298, 308 and 323K. The data fitting is accomplished with the Toth, UNILAN, Dubinin-Astakhov and virial adsorption models which are generally used for micro porous adsorbents such as zeolites. Comparison with experimental data from the literature indicated that the virial model would best determine results. These results may be partly attributed to the flexibility of the virial model which can accommodate as many constants as the data warrants.

Keywords: adsorption models, zeolite, carbon dioxide

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893 Carbon Accumulation in Winter Wheat under Different Growing Intensity and Climate Change

Authors: V. Povilaitis, S. Lazauskas, Š. Antanaitis, S. Sakalauskien, J. Sakalauskait, G. Pšibišauskien, O. Auškalnien, S. Raudonius, P. Duchovskis

Abstract:

World population growth drives food demand, promotes intensification of agriculture, development of new production technologies and varieties more suitable for regional nature conditions. Climate change can affect the length of growing period, biomass and carbon accumulation in winter wheat. The increasing mean air temperature resulting from climate change can reduce the length of growth period of cereals, and without adequate adjustments in growing technologies or varieties, can reduce biomass and carbon accumulation. Deeper understanding and effective measures for monitoring and management of cereal growth process are needed for adaptation to changing climate and technological conditions.

Keywords: carbon, climate change, modeling, winter wheat

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892 Conceptual Frameworks of Carbon Credit Registry System for Thailand

Authors: Akekaluck Hemtanon, Bunyarit Uyyanonvara

Abstract:

This research explores on the development of the structure of Carbon Credit Registry System those accords to the need of future events in Thailand. This research also explores the big picture of every connected system by referring to the design of each system, the Data Flow Diagram, and the design in term of the system-s data using DES standard. The purpose of this paper is to show how to design the model of each system. Furthermore, this paper can serve as guideline for designing an appropriate Carbon Credit Registry System.

Keywords: CDM, CDM BE, Annex I County, Non-Annex I country, CERs, Kyoto Protocol.

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891 Removal of Ni(II), Zn(II) and Pb(II) ions from Single Metal Aqueous Solution using Activated Carbon Prepared from Rice Husk

Authors: Mohd F. Taha, Chong F. Kiat, Maizatul S. Shaharun, Anita Ramli

Abstract:

The abundance and availability of rice husk, an agricultural waste, make them as a good source for precursor of activated carbon. In this work, rice husk-based activated carbons were prepared via base treated chemical activation process prior the carbonization process. The effect of carbonization temperatures (400, 600 and 800oC) on their pore structure was evaluated through morphology analysis using scanning electron microscope (SEM). Sample carbonized at 800oC showed better evolution and development of pores as compared to those carbonized at 400 and 600oC. The potential of rice husk-based activated carbon as an alternative adsorbent was investigated for the removal of Ni(II), Zn(II) and Pb(II) from single metal aqueous solution. The adsorption studies using rice husk-based activated carbon as an adsorbent were carried out as a function of contact time at room temperature and the metal ions were analyzed using atomic absorption spectrophotometer (AAS). The ability to remove metal ion from single metal aqueous solution was found to be improved with the increasing of carbonization temperature. Among the three metal ions tested, Pb(II) ion gave the highest adsorption on rice husk-based activated carbon. The results obtained indicate the potential to utilize rice husk as a promising precursor for the preparation of activated carbon for removal of heavy metals.

Keywords: Activated carbon, metal ion adsorption, rice husk, wastewater treatment.

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890 Adsorption of Phenol, 3-Nitrophenol and Dyes from Aqueous Solutions onto an Activated Carbon Column under Semi-Batch and Continuous Operation

Authors: I. Moraitopoulos, Z. Ioannou, J. Simitzis

Abstract:

The present study examines the adsorption of phenol, 3-nitrophenol and dyes (methylene blue, alizarine yellow), from aqueous solutions onto a commercial activated carbon. Two different operations, semi-batch and continuous with reflux, were applied. The commercial activated carbon exhibits high adsorption abilities for phenol, 3-nitrophenol and dyes (methylene blue and alizarin yellow) from their aqueous solutions. The adsorption of all adsorbates after 1 h is higher by the continuous operation with reflux than by the semibatch operation. The adsorption of phenol is higher than that of 3-nitrophenol for both operations. Similarly, the adsorption of alizarin yellow is higher than that of methylene blue for both operations. The regenerated commercial activated carbon regains its adsorption ability due to the removal of the adsorbate from its pores during the regeneration.

Keywords: Activated carbon, adsorption, phenols, dyes.

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889 A Study of Removing SUVA and Trihalomethanes by Biological Activated Carbon

Authors: Tseng, Wei-Bin., Lou, Jie-Chung, Han, Jia-Yun

Abstract:

SUVA (equivalent to UV254/DOC) value in raw water is a precursor for the formation of trihalomethane during chlorination at a water treatment plant. This study collected rapidly filtered water from an advanced water treatment plant for use in experiments on raw water. The removal rate of treating the trihalomethanes formation potential (THMFP) was conducted by using a biological activated carbon. The hydraulic retention time and SUVA loading were major factors in biological degradation tests. The results showed that biological powder-activated carbon (BPAC) lowered the average concentration of UV254 and value of SUVA in raw water. A removal efficiency of THMFP was present in the treatment of the three primary organic carbon items. These results highlighted the importance of the BPAC had an excellent treatment efficiency on THMFP.

Keywords: Water treatment, BPAC, THMFP, SUVA, correlation analysis.

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888 Analyzing the Effect of Materials’ Selection on Energy Saving and Carbon Footprint: A Case Study Simulation of Concrete Structure Building

Authors: M. Kouhirostamkolaei, M. Kouhirostami, M. Sam, J. Woo, A. T. Asutosh, J. Li, C. Kibert

Abstract:

Construction is one of the most energy consumed activities in the urban environment that results in a significant amount of greenhouse gas emissions around the world. Thus, the impact of the construction industry on global warming is undeniable. Thus, reducing building energy consumption and mitigating carbon production can slow the rate of global warming. The purpose of this study is to determine the amount of energy consumption and carbon dioxide production during the operation phase and the impact of using new shells on energy saving and carbon footprint. Therefore, a residential building with a re-enforced concrete structure is selected in Babolsar, Iran. DesignBuilder software has been used for one year of building operation to calculate the amount of carbon dioxide production and energy consumption in the operation phase of the building. The primary results show the building use 61750 kWh of energy each year. Computer simulation analyzes the effect of changing building shells -using XPS polystyrene and new electrochromic windows- as well as changing the type of lighting on energy consumption reduction and subsequent carbon dioxide production. The results show that the amount of energy and carbon production during building operation has been reduced by approximately 70% by applying the proposed changes. The changes reduce CO2e to 11345 kg CO2/yr. The result of this study helps designers and engineers to consider material selection’s process as one of the most important stages of design for improving energy performance of buildings.

Keywords: Construction materials, green construction, energy simulation, carbon footprint, energy saving, concrete structure, DesignBuilder.

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887 The Effect of Laser Surface Melting on the Microstructure and Mechanical Properties of Low Carbon Steel

Authors: Suleiman M. Elhamali, K. M. Etmimi, A. Usha

Abstract:

The paper presents the results of microhardness and microstructure of low carbon steel surface melted using carbon dioxide laser with a wavelength of 10.6μm and a maximum output power of 2000W. The processing parameters such as the laser power, and the scanning rate were investigated in this study. After surface melting two distinct regions formed corresponding to the melted zone MZ, and the heat affected zone HAZ. The laser melted region displayed a cellular fine structures while the HAZ displayed martensite or bainite structure. At different processing parameters, the original microstructure of this steel (Ferrite+Pearlite) has been transformed to new phases of martensitic and bainitic structures. The fine structure and the high microhardness are evidence of the high cooling rates which follow the laser melting. The melting pool and the transformed microstructure in the laser surface melted region of carbon steel showed clear dependence on laser power and scanning rate.

Keywords: Carbon steel, laser surface melting, microstructure, microhardness.

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886 Effect of Carbon Amount of Dual-Phase Steels on Deformation Behavior Using Acoustic Emission

Authors: Ramin Khamedi, Isa Ahmadi

Abstract:

In this study acoustic emission (AE) signals obtained during deformation and fracture of two types of ferrite-martensite dual phase steels (DPS) specimens have been analyzed in frequency domain. For this reason two low carbon steels with various amounts of carbon were chosen, and intercritically heat treated. In the introduced method, identifying the mechanisms of failure in the various phases of DPS is done. For this aim, AE monitoring has been used during tensile test of several DPS with various volume fraction of the martensite (VM) and attempted to relate the AE signals and failure mechanisms in these steels. Different signals, which referred to 2-3 micro-mechanisms of failure due to amount of carbon and also VM have been seen. By Fast Fourier Transformation (FFT) of signals in distinct locations, an excellent relationship between peak frequencies in these areas and micro-mechanisms of failure were seen. The results were verified by microscopic observations (SEM).

Keywords: Dual Phase Steel, Deformation, Acoustic Emission.

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885 Adsorption of Lead(II) and Cadmium(II) Ions from Aqueous Solutions by Adsorption on Activated Carbon Prepared from Cashew Nut Shells

Authors: S. Tangjuank, N. Insuk , J. Tontrakoon , V. Udeye

Abstract:

Cashew nut shells were converted into activated carbon powders using KOH activation plus CO2 gasification at 1027 K. The increase both of impregnation ratio and activation time, there was swiftly the development of mesoporous structure with increasing of mesopore volume ratio from 20-28% and 27-45% for activated carbon with ratio of KOH per char equal to 1 and 4, respectively. Activated carbon derived from KOH/char ratio equal to 1 and CO2 gasification time from 20 to 150 minutes were exhibited the BET surface area increasing from 222 to 627 m2.g-1. And those were derived from KOH/char ratio of 4 with activation time from 20 to 150 minutes exhibited high BET surface area from 682 to 1026 m2.g-1. The adsorption of Lead(II) and Cadmium(II) ion was investigated. This adsorbent exhibited excellent adsorption for Lead(II) and Cadmium(II) ion. Maximum adsorption presented at 99.61% at pH 6.5 and 98.87% at optimum conditions. The experimental data was calculated from Freundlich isotherm and Langmuir isotherm model. The maximum capacity of Pb2+ and Cd2+ ions was found to be 28.90 m2.g-1 and 14.29 m2.g-1, respectively.

Keywords: Activated carbon, cashew nut shell, heavy metals, adsorption.

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884 A Finite Element Model for Estimating Young-s Modulus of Carbon Nanotube Reinforced Composites Incorporating Elastic Cross-Links

Authors: Kaveh PourAkbar Saffar, Nima JamilPour, Ahmad Raeisi Najafi, Gholamreza Rouhi, Ahmad Reza Arshi, Abdolhossein Fereidoon

Abstract:

The presence of chemical bonding between functionalized carbon nanotubes and matrix in carbon nanotube reinforced composites is modeled by elastic beam elements representing covalent bonding characteristics. Neglecting other reinforcing mechanisms in the composite such as relatively weak interatomic Van der Waals forces, this model shows close results to the Rule of Mixtures model-s prediction for effective Young-s modulus of a Representative Volume Element of composite for small volume fractions (~1%) and high aspect ratios (L/D>200) of CNTs.

Keywords: Beam Element, Carbon Nanotube Reinforced Composite, Cross-link, Young's modulus.

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883 Analysis of Causality between Economic Growth and Carbon Emissions: The Case of Mexico 1971-2011

Authors: Mario Gómez, José Carlos Rodríguez

Abstract:

This paper analyzes the Environmental Kuznets Curve (EKC) hypothesis to test the causality relationship between economic activity, trade openness and carbon dioxide emissions in Mexico (1971-2011). The results achieved in this research show that there are three long-run relationships between production, trade openness, energy consumption and carbon dioxide emissions. The EKC hypothesis was not verified in this research. Indeed, it was found evidence of a short-term unidirectional causality from GDP and GDP squared to carbon dioxide emissions, from GDP, GDP squared and TO to EC, and bidirectional causality between TO and GDP. Finally, it was found evidence of long-term unidirectional causality from all variables to carbon emissions. These results suggest that a reduction in energy consumption, economic activity, or an increase in trade openness would reduce pollution.

Keywords: Energy consumption, environmental Kuznets curve, economic growth, causality, co-integration.

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882 Use of Fuzzy Logic in the Corporate Reputation Assessment: Stock Market Investors’ Perspective

Authors: Tomasz L. Nawrocki, Danuta Szwajca

Abstract:

The growing importance of reputation in building enterprise value and achieving long-term competitive advantage creates the need for its measurement and evaluation for the management purposes (effective reputation and its risk management). The paper presents practical application of self-developed corporate reputation assessment model from the viewpoint of stock market investors. The model has a pioneer character and example analysis performed for selected industry is a form of specific test for this tool. In the proposed solution, three aspects - informational, financial and development, as well as social ones - were considered. It was also assumed that the individual sub-criteria will be based on public sources of information, and as the calculation apparatus, capable of obtaining synthetic final assessment, fuzzy logic will be used. The main reason for developing this model was to fulfill the gap in the scope of synthetic measure of corporate reputation that would provide higher degree of objectivity by relying on "hard" (not from surveys) and publicly available data. It should be also noted that results obtained on the basis of proposed corporate reputation assessment method give possibilities of various internal as well as inter-branch comparisons and analysis of corporate reputation impact.

Keywords: Corporate reputation, fuzzy logic, fuzzy model, stock market investors.

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881 The Martingale Options Price Valuation for European Puts Using Stochastic Differential Equation Models

Authors: H. C. Chinwenyi, H. D. Ibrahim, F. A. Ahmed

Abstract:

In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.

Keywords: Equivalent Martingale Measure, European Put Option, Girsanov Theorem, Martingales, Monte Carlo method, option price valuation, option price valuation formula.

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880 Progressive Loading Effect of Co over SiO2/Al2O3 Catalyst for Cox Free Hydrogen and Carbon Nanotubes Production via Catalytic Decomposition of Methane

Authors: Sushil Kumar Saraswat, K. K. Pant

Abstract:

Co metal supported on SiO2 and Al2O3 catalysts with a metal loading varied from 30 of 70 wt.% were evaluated for decomposition of methane to COx free hydrogen and carbon nanomaterials. The catalytic runs were carried out from 550-800oC under atmospheric pressure using fixed bed vertical flow reactor. The fresh and spent catalysts were characterized by BET surface area analyzer, XRD, SEM, TEM and TG analysis. The data showed that 50% Co/Al2O3 catalyst exhibited remarkable higher activity at 800oC with respect to H2 production compared to rest of the catalysts. However, the catalytic activity and durability was greatly declined at higher temperature. The main reason for the catalytic inhibition of Co containing SiO2 catalysts is the higher reduction temperature of Co2SiO4. TEM images illustrate that the carbon materials with various morphologies, carbon nanofibers (CNFs), helical-shaped CNFs and branched CNFs depending on the catalyst composition and reaction temperature were obtained.

Keywords: Carbon nanotubes, Cobalt, Hydrogen Production, Methane decomposition.

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879 Discovery of Sequential Patterns Based On Constraint Patterns

Authors: Shigeaki Sakurai, Youichi Kitahata, Ryohei Orihara

Abstract:

This paper proposes a method that discovers sequential patterns corresponding to user-s interests from sequential data. This method expresses the interests as constraint patterns. The constraint patterns can define relationships among attributes of the items composing the data. The method recursively decomposes the constraint patterns into constraint subpatterns. The method evaluates the constraint subpatterns in order to efficiently discover sequential patterns satisfying the constraint patterns. Also, this paper applies the method to the sequential data composed of stock price indexes and verifies its effectiveness through comparing it with a method without using the constraint patterns.

Keywords: Sequential pattern mining, Constraint pattern, Attribute constraint, Stock price indexes

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878 Production of Hydrogen and Carbon Nanofiber via Methane Decomposition

Authors: Zhi Zhang, Tao Tang, Guangda Lu, Cheng Qin, Huogen Huang, Shaotao Zheng

Abstract:

High purity hydrogen and the valuable by-product of carbon nanotubes (CNTs) can be produced by the methane catalytic decomposition. The methane conversion and the performance of CNTs were determined by the choices of catalysts and the condition of decomposition reaction. In this paper, Ni/MgO and Ni/O-D (oxidized diamond) catalysts were prepared by wetness impregnation method. The effects of reaction temperature and space velocity of methane on the methane conversion were investigated in a fixed-bed. The surface area, structure and micrography were characterized with BET, XPS, SEM, EDS technology. The results showed that the conversion of methane was above 8% within 150 min (T=500) for 33Ni/O-D catalyst and higher than 25% within 120 min (T=650) for 41Ni/MgO catalyst. The initial conversion increased with the increasing temperature of the decomposition reaction, but their catalytic activities decreased rapidly while at too higher temperature. To decrease the space velocity of methane was propitious to promote the methane conversion, but not favor of the hydrogen yields. The appearance of carbon resulted from the methane decomposition lied on the support type and the condition of catalytic reaction. It presented as fiber shape on the surface of Ni/O-D at the relatively lower temperature such as 500 and 550, but as grain shape stacked on and overlayed on the surface of the metal nickel while at 650. The carbon fiber can form on the Ni/MgO surface at 650 and the diameter of the carbon fiber increased with the decreasing space velocity.

Keywords: methane, catalytic decomposition, hydrogen, carbon nanofiber

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877 Role of Sequestration of CO2 Due to the Carbonation in Total CO2 Emission Balance in Concrete Life

Authors: P. P. Woyciechowski

Abstract:

Calculation of the carbon footprint of cement concrete is a complex process including consideration of the phase of primary life (components and concrete production processes, transportation, construction works, maintenance of concrete structures) and secondary life, including demolition and recycling. Taking into consideration the effect of concrete carbonation can lead to a reduction in the calculated carbon footprint of concrete. In this paper, an example of CO2 balance for small bridge elements made of Portland cement reinforced concrete was done. The results include the effect of carbonation of concrete in a structure and of concrete rubble after demolition. It was shown that important impact of carbonation on the balance is possible only when rubble carbonation is possible. It was related to the fact that only the sequestration potential in the secondary phase of concrete life has significant value.

Keywords: Carbon footprint, balance of carbon dioxide in nature, concrete carbonation, the sequestration potential of concrete.

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876 Bounded Rational Heterogeneous Agents in Artificial Stock Markets: Literature Review and Research Direction

Authors: Talal Alsulaiman, Khaldoun Khashanah

Abstract:

In this paper, we provided a literature survey on the artificial stock problem (ASM). The paper began by exploring the complexity of the stock market and the needs for ASM. ASM aims to investigate the link between individual behaviors (micro level) and financial market dynamics (macro level). The variety of patterns at the macro level is a function of the AFM complexity. The financial market system is a complex system where the relationship between the micro and macro level cannot be captured analytically. Computational approaches, such as simulation, are expected to comprehend this connection. Agent-based simulation is a simulation technique commonly used to build AFMs. The paper proceeds by discussing the components of the ASM. We consider the roles of behavioral finance (BF) alongside the traditionally risk-averse assumption in the construction of agent’s attributes. Also, the influence of social networks in the developing of agents interactions is addressed. Network topologies such as a small world, distance-based, and scale-free networks may be utilized to outline economic collaborations. In addition, the primary methods for developing agents learning and adaptive abilities have been summarized. These incorporated approach such as Genetic Algorithm, Genetic Programming, Artificial neural network and Reinforcement Learning. In addition, the most common statistical properties (the stylized facts) of stock that are used for calibration and validation of ASM are discussed. Besides, we have reviewed the major related previous studies and categorize the utilized approaches as a part of these studies. Finally, research directions and potential research questions are argued. The research directions of ASM may focus on the macro level by analyzing the market dynamic or on the micro level by investigating the wealth distributions of the agents.

Keywords: Artificial stock markets, agent based simulation, bounded rationality, behavioral finance, artificial neural network, interaction, scale-free networks.

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875 The Impacts of Cost Stickiness on the Profitability of Indonesian Firms

Authors: Dezie L. Warganegara, Dewi Tamara

Abstract:

The objectives of this study is to investigate the existence of the sticky cost behavior of firms listed in the Indonesia Stock Exchange (IDX) and to find evidence on the effects of sticky operating expenses (SG&A expenses) on profitability of firms. For the first objective, this study finds that the sticky cost behavior does exist. For the second objective, this study finds that the stickier the operating expenses the lesser future profitability of the firms. This study concludes that sticky cost affects negatively to the performance and, therefore, firms should include flexibility in designing the cost structure of their firms.

Keywords: Operating Expenses, Profitability, SG&A, Sticky Costs, Indonesia Stock Exchange (IDX).

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874 Facile Synthesis of Vertically Aligned ZnO Nanowires on Carbon Layer by Vapour Deposition

Authors: Kh. A. Abdullin, N. B. Bakranov, S. E. Kudaibergenov, S.E. Kumekov, V. N. Ermolaev, L. V. Podrezova

Abstract:

A facile vapour deposition method of synthesis of vertically aligned ZnO nanowires on carbon seed layer was developed. The received samples were investigated on electronic microscope JSM-6490 LA JEOL and x-ray diffractometer X, pert MPD PRO. The photoluminescence spectra (PL) of obtained ZnO samples at a room temperature were studied using He-Cd laser (325 nm line) as excitation source.

Keywords: ZnO nanowires, vapor-phase deposition, Nicatalytic layer, facile method of synthesis, carbon catalytic layer, thephotoluminescence spectra, X-ray spectrum.

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873 Existence of Nano-Organic Carbon Particles below the Size Range of 10 nm in the Indoor Air Environment

Authors: Bireswar Paul, Amitava Datta

Abstract:

Indoor air environment is a big concern in the last few decades in the developing countries, with increased focus on monitoring the air quality. In this work, an experimental study has been conducted to establish the existence of carbon nanoparticles below the size range of 10 nm in the non-sooting zone of a LPG/air partially premixed flame. Mainly, four optical techniques, UV absorption spectroscopy, fluorescence spectroscopy, dynamic light scattering and TEM have been used to characterize and measure the size of carbon nanoparticles in the sampled materials collected from the inner surface of the flame front. The existence of the carbon nanoparticles in the sampled material has been confirmed with the typical nature of the absorption and fluorescence spectra already reported in the literature. The band gap energy shows that the particles are made up of three to six aromatic rings. The size measurement by DLS technique also shows that the particles below the size range of 10 nm. The results of DLS are also corroborated by the TEM image of the same material. 

Keywords: Indoor air, carbon nanoparticles, LPG, partially premixed flame, optical techniques.

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872 Carbon Storage in Above-Ground Biomass of Tropical Deciduous Forest in Ratchaburi Province, Thailand

Authors: Ubonwan Chaiyo, Savitri Garivait, Kobsak Wanthongchai

Abstract:

The study site was located in Ratchaburi Province, Thailand. Four experimental plots in dry dipterocarp forest (DDF) and four plots in mixed deciduous forest (MDF) were set up to estimate the above-ground biomass of tree, sapling and bamboo. The allometry equations were used to investigate above-ground biomass of these vegetation. Seedling and other understory were determined using direct harvesting method. Carbon storage in above-ground biomass was calculated based on IPCC 2006. The results showed that the above-ground biomass of DDF at 20-40% slope, <20% slope and MDF at <20% slope were 91.96, 30.95 and 59.44 ton/ha, respectively. Bamboo covers about half of total aboveground biomass in MDF, which is a specific characteristic of this area. The carbon sequestration potential in above-ground biomass of plot slope range 20-40% DDF, <20% DDF and <20% MDF are 43.22, 14.55 and 27.94 ton C/ha, respectively.

Keywords: Carbon storage, aboveground biomass, tropical deciduous forest, dry dipterocarp forest, mixed deciduous forest.

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871 The Study on the Relationship between Momentum Profits and Psychological Factors: Evidence from Taiwan

Authors: Chih-Hsiang Chang

Abstract:

This study provides insight into the effects of investor sentiment, excess optimism, overconfidence, the disposition effect, and herding formation on momentum profits. This study contributes to the field by providing a further examination of the relationship between psychological factors and momentum profits. The empirical results show that there is no evidence of significant momentum profits in Taiwan’s stock market. Additionally, investor sentiment in Taiwan’s stock market significantly influences its momentum profits.

Keywords: Momentum profits, psychological factors, herding formation, investor sentiment.

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870 Impact of Financial System’s Development on Economic Development: An Empirical Investigation

Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.

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