Search results for: increasing returns
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2165

Search results for: increasing returns

2045 Why Do Pakistani Customers Patronize Islamic Banks- An Empirical Analysis

Authors: Farjana Mumu, Jia Guozho

Abstract:

Throughout the world, the Islamic way of banking and financing is increasing. The same trend is also visible in Pakistan, where the Islamic banking sector is increasing in size and volume each year. The question immediately arises as why the Pakistanis patronize the Islamic banking system? This study was carried out to find whether following the Islamic rules in finance is the main factor for such selection or whether other factors such as customer service, location, banking hour, physical facilities of the bank etc also have importance. The study was carried by distributing questionnaire and 200 responses were collected from the clients of Islamic banks. The result showed that the service quality and other factors are as important as following the Islamic rules for finance to retain old ustomers and catch new customers. The result is important and Islamic banks can take actions accordingly to look after both the factors

Keywords: Customers' perception, customer satisfaction, customer service, Islamic banking

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2044 Flexural Strength of Alkali Resistant Glass Textile Reinforced Concrete Beam with Prestressing

Authors: Jongho Park, Taekyun Kim, Jungbhin You, Sungnam Hong, Sun-Kyu Park

Abstract:

Due to the aging of bridges, increasing of maintenance costs and decreasing of structural safety is occurred. The steel corrosion of reinforced concrete bridge is the most common problem and this phenomenon is accelerating due to abnormal weather and increasing CO2 concentration due to climate change. To solve these problems, composite members using textile have been studied. A textile reinforced concrete can reduce carbon emissions by reduced concrete and without steel bars, so a lot of structural behavior studies are needed. Therefore, in this study, textile reinforced concrete beam was made and flexural test was performed. Also, the change of flexural strength according to the prestressing was conducted. As a result, flexural strength of TRC with prestressing was increased compared and flexural behavior was shown as reinforced concrete.

Keywords: AR-glass, flexural strength, prestressing, textile reinforced concrete.

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2043 Effect of Waste Bottle Chips on Strength Parameters of Silty Soil

Authors: Seyed Abolhasan Naeini, Hamidreza Rahmani

Abstract:

Laboratory consolidated undrained triaxial (CU) tests were carried out to study the strength behavior of silty soil reinforced with randomly plastic waste bottle chips. Specimens mixed with plastic waste chips in triaxial compression tests with 0.25, 0.50, 0.75, 1.0, and 1.25% by dry weight of soil and tree different length including 4, 8, and 12 mm. In all of the samples, the width and thickness of plastic chips were kept constant. According to the results, the amount and size of plastic waste bottle chips played an important role in the increasing of the strength parameters of reinforced silt compared to the pure soil. Because of good results, the suggested method of soil improvement can be used in many engineering problems such as increasing the bearing capacity and settlement reduction in foundations.

Keywords: Soil improvement, waste bottle chips, reinforcement, silt, Triaxial test.

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2042 Computational Analysis of Cavity Effect over Aircraft Wing

Authors: P. Booma Devi, Dilip A. Shah

Abstract:

This paper seeks the potentials of studying aerodynamic characteristics of inward cavities called dimples, as an alternative to the classical vortex generators. Increasing stalling angle is a greater challenge in wing design. But our examination is primarily focused on increasing lift. In this paper, enhancement of lift is mainly done by introduction of dimple or cavity in a wing. In general, aircraft performance can be enhanced by increasing aerodynamic efficiency that is lift to drag ratio of an aircraft wing. Efficiency improvement can be achieved by improving the maximum lift co-efficient or by reducing the drag co-efficient. At the time of landing aircraft, high angle of attack may lead to stalling of aircraft. To avoid this kind of situation, increase in the stalling angle is warranted. Hence, improved stalling characteristic is the best way to ease landing complexity. Computational analysis is done for the wing segment made of NACA 0012. Simulation is carried out for 30 m/s free stream velocity over plain airfoil and different types of cavities. The wing is modeled in CATIA V5R20 and analyses are carried out using ANSYS CFX. Triangle and square shapes are used as cavities for analysis. Simulations revealed that cavity placed on wing segment shows an increase of maximum lift co-efficient when compared to normal wing configuration. Flow separation is delayed at downstream of the wing by the presence of cavities up to a particular angle of attack.

Keywords: Lift, square and rectangle dimples, enhancement of stall angle, cavity.

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2041 Designing a Low Speed Wind Tunnel for Investigating Effects of Blockage Ratio on Heat Transfer of a Non-Circular Tube

Authors: Arash Mirabdolah Lavasani, Taher Maarefdoost

Abstract:

Effect of blockage ratio on heat transfer from non-circular tube is studied experimentally. For doing this experiment a suction type low speed wind tunnel with test section dimension of 14×14×40 and velocity in rage of 7-20 m/s was designed. The blockage ratios varied between 1.5 to 7 and Reynolds number based on equivalent diameter varies in range of 7.5×103 to 17.5×103. The results show that by increasing blockage ratio from 1.5 to 7, drag coefficient of the cam shaped tube decreased about 55 percent. By increasing Reynolds number, Nusselt number of the cam shaped tube increases about 40 to 48 percent in all ranges of blockage ratios.

Keywords: Wind tunnel, non-circular tube, blockage ratio, experimental heat transfer, cross-flow.

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2040 Microwave Plasma Dry Reforming of Methane at High CO2/CH4 Feed Ratio

Authors: Nabil Majd Alawi, Gia Hung Pham, Ahmed Barifcani

Abstract:

Dry reforming of methane that converts two greenhouses gases (CH4 and CO2) to synthesis gas (a mixture of H2 and CO) was studied in a commercial bench scale microwave (MW) plasma reactor system at atmospheric pressure. The CO2, CH4 and N2 conversions; H2, CO selectivities and yields, and syngas ratio (H2/CO) were investigated in a wide range of total feed flow rate (0.45 – 2.1 L/min), MW power (700 – 1200 watt) and CO2/CH4 molar ratio (2 – 5). At the feed flow rates of CH4, CO2 and N2 of 0.2, 0.4 and 1.5 L/min respectively, and the MWs input power of 700 W, the highest conversions of CH4 and CO2, selectivity and yield of H2, CO and H2/CO ratio of 79.35%, 44.82%, 50.12, 58.42, 39.77%, 32.89%, and 0.86, respectively, were achieved. The results of this work show that the product ratio increases slightly with the increasing total feed flow rate, but it decreases significantly with the increasing MW power and feeds CO2/CH4 ratio.

Keywords: Atmospheric pressure, methane dry reforming, microwave plasma, synthesis gas production.

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2039 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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2038 Experimental Investigation on the Shear Strength Parameters of Sand-Slag Mixtures

Authors: Ayad Salih Sabbar, Amin Chegenizadeh, Hamid Nikraz

Abstract:

Utilizing waste materials in civil engineering applications has a positive influence on the environment by reducing carbon dioxide emissions and issues associated with waste disposal. Granulated blast furnace slag (GBFS) is a by-product of the iron and steel industry, with millions of tons of slag being annually produced worldwide. Slag has been widely used in structural engineering and for stabilizing clay soils; however, studies on the effect of slag on sandy soils are scarce. This article investigates the effect of slag content on shear strength parameters through direct shear tests and unconsolidated undrained triaxial tests on mixtures of Perth sand and slag. For this purpose, sand-slag mixtures, with slag contents of 2%, 4%, and 6% by weight of samples, were tested with direct shear tests under three normal stress values, namely 100 kPa, 150 kPa, and 200 kPa. Unconsolidated undrained triaxial tests were performed under a single confining pressure of 100 kPa and relative density of 80%. The internal friction angles and shear stresses of the mixtures were determined via the direct shear tests, demonstrating that shear stresses increased with increasing normal stress and the internal friction angles and cohesion increased with increasing slag. There were no significant differences in shear stresses parameters when slag content rose from 4% to 6%. The unconsolidated undrained triaxial tests demonstrated that shear strength increased with increasing slag content.

Keywords: Direct shear, shear strength, slag, UU test.

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2037 Study of Magnetic Properties on the Corrosion Behavior and Influence of Temperature in Permanent Magnet (Nd-Fe-B) Used in PMSM

Authors: N. Yogal, C. Lehrmann

Abstract:

The use of permanent magnets (PM) is increasing in permanent magnet synchronous machines (PMSM) to fulfill the requirements of high efficiency machines in modern industry. PMSM are widely used in industrial applications, wind power plants and the automotive industry. Since PMSM are used in different environmental conditions, the long-term effect of NdFeB-based magnets at high temperatures and their corrosion behavior have to be studied due to the irreversible loss of magnetic properties. In this paper, the effect of magnetic properties due to corrosion and increasing temperature in a climatic chamber has been presented. The magnetic moment and magnetic field of the magnets were studied experimentally.

Keywords: Permanent magnets (PM), NdFeB, corrosion behavior, temperature effect, permanent magnet synchronous machine (PMSM).

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2036 Increasing Chickpea Quality and Agroecosystm Sustainability Using Organic and Natural Resources

Authors: Mohammadi K., Ghalavand A., Aghaalikhani M., Eskandari M.

Abstract:

In order to increase in chickpea quality and agroecosystem sustainability, field experiments were carried out in 2007 and 2008 growing seasons. In this research the effects of different organic, chemical and biological fertilizers were investigated on grain yield and quality of chickpea. Experimental units were arranged in split-split plots based on randomized complete blocks with three replications. The highest amounts of yield and yield components were obtained in G1×N5 interaction. Significant increasing of N, P, K, Fe and Mg content in leaves and grains emphasized on superiority of mentioned treatment because each one of these nutrients has an approved role in chlorophyll synthesis and photosynthesis ability of the crop. The combined application of compost, farmyard manure and chemical phosphorus (N5) had the best grain quality due to high protein, starch and total sugar contents, low crude fiber and reduced cooking time.

Keywords: Agroecosystem, sustainability, chickpea, naturalresources.

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2035 Bound State Solutions of the Schrödinger Equation for Hulthen-Yukawa Potential in D-Dimensions

Authors: I. Otete, A. I. Ejere, I. S. Okunzuwa

Abstract:

In this work, we used the Hulthen-Yukawa potential to obtain the bound state energy eigenvalues of the Schrödinger equation in D-dimensions within the frame work of the Nikiforov-Uvarov (NU) method. We demonstrated the graphical behaviour of the Hulthen and the Yukawa potential and investigated how the screening parameter and the potential depth affected the structure and the nature of the bound state eigenvalues. The results we obtained showed that increasing the screening parameter lowers the energy eigenvalues. Also, the eigenvalues acted as an inverse function of the potential depth. That is, increasing the potential depth reduces the energy eigenvalues.

Keywords: Schrödinger's equation, bound state, Hulthen-Yukawa potential, Nikiforov-Uvarov, D-dimensions

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2034 Pricing European Options under Jump Diffusion Models with Fast L-stable Padé Scheme

Authors: Salah Alrabeei, Mohammad Yousuf

Abstract:

The goal of option pricing theory is to help the investors to manage their money, enhance returns and control their financial future by theoretically valuing their options. Modeling option pricing by Black-School models with jumps guarantees to consider the market movement. However, only numerical methods can solve this model. Furthermore, not all the numerical methods are efficient to solve these models because they have nonsmoothing payoffs or discontinuous derivatives at the exercise price. In this paper, the exponential time differencing (ETD) method is applied for solving partial integrodifferential equations arising in pricing European options under Merton’s and Kou’s jump-diffusion models. Fast Fourier Transform (FFT) algorithm is used as a matrix-vector multiplication solver, which reduces the complexity from O(M2) into O(M logM). A partial fraction form of Pad`e schemes is used to overcome the complexity of inverting polynomial of matrices. These two tools guarantee to get efficient and accurate numerical solutions. We construct a parallel and easy to implement a version of the numerical scheme. Numerical experiments are given to show how fast and accurate is our scheme.

Keywords: Integral differential equations, L-stable methods, pricing European options, Jump–diffusion model.

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2033 Numerical Simulation of Convection Heat Transfer in a Lid-Driven Cavity with an Open Side

Authors: M.Jafari, M.Farhadi, K.sedighi, E.Fattahi

Abstract:

In this manuscript, the LBM is applied for simulating of Mixed Convection in a Lid-Driven cavity with an open side. The cavity horizontal walls are insulated while the west Lid-driven wall is maintained at a uniform temperature higher than the ambient. Prandtl number (Pr) is fixed to 0.71 (air) while Reynolds number (Re) , Richardson number (Ri) and aspect ratio (A) of the cavity are changed in the range of 50-150 , of 0.1-10 and of 1-4 , respectively. The numerical code is validated for the standard square cavity, and then the results of an open ended cavity are presented. Result shows by increasing of aspect ratio, the average Nusselt number (Nu) on lid- driven wall decreases and with same Reynolds number (Re) by increasing of aspect ratio (A), Richardson number plays more important role in heat transfer rate.

Keywords: Lattice Boltzmann Method, Open ended cavity, Mixed convection, Lid-driven cavity.

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2032 Economic Analysis of Domestic Combined Heat and Power System in the UK

Authors: Thamo Sutharssan, Diogo Montalvao, Yong Chen, Wen-Chung Wang, Claudia Pisac

Abstract:

A combined heat and power (CHP) system is an efficient and clean way to generate power (electricity). Heat produced by the CHP system can be used for water and space heating. The CHP system which uses hydrogen as fuel produces zero carbon emission. Its’ efficiency can reach more than 80% whereas that of a traditional power station can only reach up to 50% because much of the thermal energy is wasted. The other advantages of CHP systems include that they can decentralize energy generation, improve energy security and sustainability, and significantly reduce the energy cost to the users. This paper presents the economic benefits of using a CHP system in the domestic environment. For this analysis, natural gas is considered as potential fuel as the hydrogen fuel cell based CHP systems are rarely used. UK government incentives for CHP systems are also considered as the added benefit. Results show that CHP requires a significant initial investment in returns it can reduce the annual energy bill significantly. Results show that an investment may be paid back in 7 years. After the back period, CHP can run for about 3 years as most of the CHP manufacturers provide 10 year warranty.

Keywords: Combined Heat and Power, Clean Energy, Hydrogen Fuel Cell, Economic Analysis of CHP, Zero Emission.

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2031 Removal of Arsenic (III) from Contaminated Waterby Synthetic Nano Size Zerovalent Iron

Authors: A. R. Rahmani, H. R. Ghaffari, M. T. Samadi

Abstract:

The present work was conducted for Arsenic (III) removal, which one of the most poisonous groundwater pollutants, by synthetic nano size zerovalent iron (nZVI). Batch experiments were performed to investigate the influence of As (III), nZVI concentration, pH of solution and contact time on the efficiency of As (III) removal. nZVI was synthesized by reduction of ferric chloride by sodium borohydrid. SEM and XRD were used to determine particle size and characterization of produced nanoparticles. Up to 99.9% removal efficiency for arsenic (III) was obtained by nZVI dosage of 1 g/L at time equal to 10 min. and pH=7. It could be concluded that the removal efficiency were enhanced with increasing of ZVI dosage and reaction time, but decreased with increasing of arsenic concentration and pH for nano sized ZVI. nZVI presented an outstanding ability to remove As (III) due to not only a high surface area and low particle size but also to high inherent activity.

Keywords: Arsenic removal, aqueous solution, zero valent iron.

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2030 Evaluation of Seismic Behavior of Steel Shear Wall with Opening with Hardener and Beam with Reduced Cross Section under Cycle Loading with Finite Element Analysis Method

Authors: Masoud Mahdavi

Abstract:

During an earthquake, the structure is subjected to seismic loads that cause tension in the members of the building. The use of energy dissipation elements in the structure reduces the percentage of seismic forces on the main members of the building (especially the columns). Steel plate shear wall, as one of the most widely used types of energy dissipation element, has evolved today, and regular drilling of its inner plate is one of the common cases. In the present study, using a finite element method, the shear wall of the steel plate is designed as a floor (with dimensions of 447 × 6/246 cm) with Abacus software and in three different modes on which a cyclic load has been applied. The steel shear wall has a horizontal element (beam) with a reduced beam section (RBS). The hole in the interior plate of the models is created in such a way that it has the process of increasing the area, which makes the effect of increasing the surface area of the hole on the seismic performance of the steel shear wall completely clear. In the end, it was found that with increasing the opening level in the steel shear wall (with reduced cross-section beam), total displacement and plastic strain indicators increased, structural capacity and total energy indicators decreased and the Mises Monson stress index did not change much.

Keywords: Steel plate shear wall with opening, cyclic loading, reduced cross-section beam, finite element method, Abaqus Software.

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2029 Influence of Jerusalem Artichoke Powder on the Nutritional Value of Pastry Products

Authors: I. Gedrovica, D. Karklina

Abstract:

From year to year, the incidence of different diseases is increasing in humans, and the cause is inadequate intake of dietary fibre, vitamins, and minerals. One of the possibilities to take care of your health preventively is including in the diet products with increased dietary fibre, vitamin, and mineral content.Jerusalem artichoke powder (JAP) made from Jerusalem artichoke (Helianthus tuberosus L) roots is a valuable product. By adding it to pastry goods, we can obtain a fibre-rich food that could be healthier and an excellent alternative to the classical pastry products of this kind.Experiments were carried out at the Faculty of Food Technology of Latvia University of Agriculture (LLU). Results of experiments showed that addition of Jerusalem artichoke powder has significant impact on all the studied pastry products nutritional value (p<0.05). With increasing concentration of Jerusalem artichoke powder in pastry products increase it nutritional value and decrease energy value.

Keywords: Biscuits, cakes, Jerusalem artichoke powder, nutritional and energy value

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2028 Compressive Strength and Capillary Water Absorption of Concrete Containing Recycled Aggregate

Authors: Yeşim Tosun, Remzi Şahin

Abstract:

This paper presents results of compressive strength, capillary water absorption, and density tests conducted on concrete containing recycled aggregate (RCA) which is obtained from structural waste generated by the construction industry in Turkey. In the experiments, 0%, 15%, 30%, 45% and 60% of the normal (natural) coarse aggregate was replaced by the recycled aggregate. Maximum aggregate particle sizes were selected as 16 mm, 22,4 mm and 31,5 mm; and 0,06%, 0,13% and 0,20% of air-entraining agent (AEA) were used in mixtures. Fly ash and superplasticizer were used as a mineral and chemical admixture, respectively. The same type (CEM I 42.5) and constant dosage of cement were used in the study. Water/cement ratio was kept constant as 0.53 for all mixture. It was concluded that capillary water absorption, compressive strength, and density of concrete decreased with increasing RCA ratio. Increasing in maximum aggregate particle size and amount of AEA also affect the properties of concrete significantly.

Keywords: Capillary water absorption, compressive strength, density, recycled concrete aggregates.

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2027 The Comparative Analysis of Two Typical Fluidic Thrust Vectoring Exhaust Nozzles on Aerodynamic Characteristics

Authors: Xin H. Zou, Qiang Wang

Abstract:

The comparisons of two typical fluidic thrust vectoring exhaust nozzles including two-dimensional(2-D) nozzle and axisymmetric nozzle on aerodynamic characteristics was presented by numerical simulation. The results show: the thrust vector angles increased with the increasing secondary flow but decreased with the nozzle pressure ratio (NPR) increasing. With the same secondary flow and NPR, the thrust vector angles of 2-D nozzle were higher than the axisymmetric nozzle-s. So with the lower NPR and more secondary weight flow, the much higher thrust vector angle was caused by 2-D fluidic nozzle. And with the higher NPR and less secondary weight flow, there was not much difference in angular dimension between two nozzles.

Keywords: Aerodynamic characteristics, fluidic nozzle, vector angle, thrust coefficient comparison.

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2026 The Effect of the Thermal Temperature and Injected Current on Laser Diode 808 nm Output Power

Authors: Hassan H. Abuelhassan, M. Ali Badawi, Abdelrahman A. Elbadawi, Adam A. Elbashir

Abstract:

In this paper, the effect of the injected current and temperature into the output power of the laser diode module operating at 808nm were applied, studied and discussed. Low power diode laser was employed as a source. The experimental results were demonstrated and then the output power of laser diode module operating at 808nm was clearly changed by the thermal temperature and injected current. The output power increases by the increasing the injected current and temperature. We also showed that the increasing of the injected current results rising in heat, which also, results into decreasing of the laser diode output power during the highest temperature as well. The best ranges of characteristics made by diode module operating at 808nm were carefully handled and determined.

Keywords: Laser diode, light amplification, injected current, output power.

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2025 Investigation of Dynamic Mechanical Properties of Jute/Carbon Reinforced Composites

Authors: H. Sezgin, O. B. Berkalp, R. Mishra, J. Militky

Abstract:

In the last few decades, due to their advanced properties, there has been an increasing interest in hybrid composite materials. In this study, the effect of different stacking sequences of jute and carbon fabric plies on dynamic mechanical properties of composite laminates were investigated. Vacuum bagging system was used to fabricate the composite samples. Each composite laminate was reinforced with two plies of jute fabric and two plies of carbon fabric by varying the position of layers. Dynamic mechanical analyzer (DMA) was used to examine the dynamic mechanical properties of composite laminates with increasing temperature. Results showed that the composite sample, which has carbon fabric at the outer layers, has the highest storage and loss modulus. Besides, it was observed that glass transition temperature (Tg) of samples are close to each other and at about 75 °C.

Keywords: Differential scanning calorimetry dynamic mechanical analysis, textile reinforced composites, thermogravimetric analysis.

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2024 Climate Impact-Minimizing Road Infrastructure Layout for Growing Cities

Authors: Stanislovas Buteliauskas, Aušrius Juozapavičius

Abstract:

City road transport contributes significantly to climate change, and the ongoing world urbanization is only increasing the problem. The paper describes a city planning concept minimizing the number of vehicles on the roads while increasing overall mobility. This becomes possible by utilizing a recently invented two-level road junction with a unique property of serving both as an intersection of uninterrupted traffic and an easily accessible transport hub capable of accumulating private vehicles, and therefore becoming an especially effective park-and-ride solution, and a logistics or business center. Optimized layouts of city road infrastructure, living and work areas, and major roads are presented. The layouts are suitable both for the development of new cities as well as for the expansion of existing ones. Costs of the infrastructure and a positive impact on climate are evaluated in comparison to current city growth patterns.

Keywords: Congestion, city infrastructure, park-and-ride, road junctions.

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2023 Variations in % Body Fat, the Amount of Skeletal Muscle and the Index of Physical Fitness in Relation to Sports Activity/Inactivity in Different Age Groups of the Adult Population in the Czech Republic

Authors: Hřebíčková Sylva, Grasgruber Pavel, Ondráček Jan, Cacek Jan, KalinaTomáš

Abstract:

The aim of this study was to describe typical changes in several parameters of body composition – the amount of skeletal muscle mass (SMM), % body fat (BF) and body mass index (BMI) - in selected age categories (30+ years) of men and women in the Czech Republic, depending on the degree of sports activity. Study (n = 823, M = 343, F = 480) monitored differences in BF, SM and BMI in five age groups (from 30-39 years to 70+ years). Physically inactive individuals have (p < 0.05) higher % BF in comparison with physically active individuals (29.5 ± 0.59 vs. 27 ± 0.38%), higher BMI (27.3 ± 0.32 vs. 26.1 ± 0.20 kg/m2), but lower SM (39.0 ± 0.33 vs. 40.4 ± 0.21%). The results indicate that with an increasing age, there is a trend towards increasing values of BMI and % BF, and decreasing values of SMM.

Keywords: Body composition, body fat, physical activity, skeletal muscle.

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2022 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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2021 Potentials and Influencing Factors of Dynamic Pricing in Business: Empirical Insights of European Experts

Authors: Christopher Reichstein, Ralf-Christian Härting, Martina Häußler

Abstract:

With a continuously increasing speed of information exchange on the World Wide Web, retailers in the E-Commerce sector are faced with immense possibilities regarding different online purchase processes like dynamic price settings. By use of Dynamic Pricing, retailers are able to set short time price changes in order to optimize producer surplus. The empirical research illustrates the basics of Dynamic Pricing and identifies six influencing factors of Dynamic Pricing. The results of a structural equation modeling approach show five main drivers increasing the potential of dynamic price settings in the E-Commerce. Influencing factors are the knowledge of customers’ individual willingness to pay, rising sales, the possibility of customization, the data volume and the information about competitors’ pricing strategy.

Keywords: E-commerce, empirical research, experts, Dynamic Pricing (DP), influencing factors, potentials.

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2020 Providing a Practical Model to Reduce Maintenance Costs: A Case Study in GeG Company

Authors: Iman Atighi, Jalal Soleimannejad, Reza Pourjafarabadi, Saeid Moradpour

Abstract:

In the past, we could increase profit by increasing product prices. But in the new decade, a competitive market does not let us to increase profit with increased prices. Therefore, the only way to increase profit will be to reduce costs. A significant percentage of production costs are the maintenance costs, and analysis of these costs could achieve more profit. Most maintenance strategies such as RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance), PM (Preventive Maintenance) and etc., are trying to reduce maintenance costs. In this paper, decreasing the maintenance costs of Concentration Plant of Golgohar Iron Ore Mining & Industrial Company (GeG) was examined by using of MTBF (Mean Time Between Failures) and MTTR (Mean Time To Repair) analyses. These analyses showed that instead of buying new machines and increasing costs in order to promote capacity, the improving of MTBF and MTTR indexes would solve capacity problems in the best way and decrease costs.

Keywords: GeG Company, maintainability, maintenance costs, reliability-center-maintenance.

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2019 Investigation of Droplet Size Produced in Two-Phase Gravity Separators

Authors: Kul Pun, F. A. Hamad, T. Ahmed, J. O. Ugwu, J. Eyers, G. Lawson, P. A. Russell

Abstract:

Determining droplet size and distribution is essential when determining the separation efficiency of a two/three-phase separator. This paper investigates the effect of liquid flow and oil pad thickness on the droplet size at the lab scale. The findings show that increasing the inlet flow rates of the oil and water results in size reduction of the droplets and increasing the thickness of the oil pad increases the size of the droplets. The data were fitted with a simple Gaussian model, and the parameters of mean, standard deviation, and amplitude were determined. Trends have been obtained for the fitted parameters as a function of the Reynolds number, which suggest a way forward to better predict the starting parameters for population models when simulating separation using CFD packages. The key parameter to predict to fix the position of the Gaussian distribution was found to be the mean droplet size.

Keywords: Two-phase separator, average bubble droplet, bubble size distribution, liquid-liquid phase.

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2018 Governance of Inter-Organizational Research Cooperation

Authors: Guenther Schuh, Sebastian Woelk

Abstract:

Companies face increasing challenges in research due to higher costs and risks. The intensifying technology complexity and interdisciplinarity require unique know-how. Therefore, companies need to decide whether research shall be conducted internally or externally with partners. On the other hand, research institutes meet increasing efforts to achieve good financing and to maintain high research reputation. Therefore, relevant research topics need to be identified and specialization of competency is necessary. However, additional competences for solving interdisciplinary research projects are also often required. Secured financing can be achieved by bonding industry partners as well as public fundings. The realization of faster and better research drives companies and research institutes to cooperate in organized research networks, which are managed by an administrative organization. For an effective and efficient cooperation, necessary processes, roles, tools and a set of rules need to be determined. Goal of this paper is to show the state-of-art research and to propose a governance framework for organized research networks.

Keywords: Interorganizational cooperation, design of network governance, research network.

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2017 Enhancement of Mechanical Properties for Al-Mg-Si Alloy Using Equal Channel Angular Pressing

Authors: A. Nassef, S. Samy, W. H. El Garaihy

Abstract:

Equal channel angular pressing (ECAP) of commercial Al-Mg-Si alloy was conducted using two strain rates. The ECAP processing was conducted at room temperature and at 250°C. Route A was adopted up to a total number of four passes in the present work. Structural evolution of the aluminum alloy discs was investigated before and after ECAP processing using optical microscopy (OM). Following ECAP, simple compression tests and Vicker’s hardness were performed. OM micrographs showed that, the average grain size of the as-received Al-Mg-Si disc tends to be larger than the size of the ECAP processed discs. Moreover, significant difference in the grain morphologies of the as-received and processed discs was observed. Intensity of deformation was observed via the alignment of the Al-Mg-Si consolidated particles (grains) in the direction of shear, which increased with increasing the number of passes via ECAP. Increasing the number of passes up to 4 resulted in increasing the grains aspect ratio up to ~5. It was found that the pressing temperature has a significant influence on the microstructure, Hv-values, and compressive strength of the processed discs. Hardness measurements demonstrated that 1-pass resulted in increase of Hv-value by 42% compared to that of the as-received alloy. 4-passes of ECAP processing resulted in additional increase in the Hv-value. A similar trend was observed for the yield and compressive strength. Experimental data of the Hv-values demonstrated that there is a lack of any significant dependence on the processing strain rate.

Keywords: Al-Mg-Si alloy, Equal channel angular pressing, Grain refinement, Severe plastic deformation.

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2016 Analysis of Tool-Chip Interface Temperature with FEM and Empirical Verification

Authors: M. Bagheri, P. Mottaghizadeh

Abstract:

Reliable information about tool temperature distribution is of central importance in metal cutting. In this study, tool-chip interface temperature was determined in cutting of ST37 steel workpiece by applying HSS as the cutting tool in dry turning. Two different approaches were implemented for temperature measuring: an embedded thermocouple (RTD) in to the cutting tool and infrared (IR) camera. Comparisons are made between experimental data and results of MSC.SuperForm and FLUENT software. An investigation of heat generation in cutting tool was performed by varying cutting parameters at the stable cutting tool geometry and results were saved in a computer; then the diagrams of tool temperature vs. various cutting parameters were obtained. The experimental results reveal that the main factors of the increasing cutting temperature are cutting speed (V ), feed rate ( S ) and depth of cut ( h ), respectively. It was also determined that simultaneously change in cutting speed and feed rate has the maximum effect on increasing cutting temperature.

Keywords: Cutting parameters, Finite element modeling, Temperature measurement, Tool-chip interface temperature.

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