Abstract: In this paper we present a classification of the various technologies applied for the solution of the portfolio selection problem according to the discipline and the methodological framework followed. We provide a concise presentation of the emerged categories and we are trying to identify which methods considered obsolete and which lie at the heart of the debate. On top of that, we provide a comparative study of the different technologies applied for efficient portfolio construction and we suggest potential paths for future work that lie at the intersection of the presented techniques.
Abstract: Graphene was dispersed using a tip sonicator and the
effect of surfactants were analysed. Sodium Dodecyl Sulphate (SDS)
and Polyvinyl Alcohol (PVA) were compared to observe whether or
not they had any effect on any de-wrinkling, and secondly whether
they aided to achieve better dispersions. There is a huge demand for
wrinkle free graphene as this will greatly increase its usefulness in
various engineering applications. A comprehensive literature on dewrinkling
graphene has been discussed. Low magnification Scanning
Electronic Microscopy (SEM) was conducted to assess the quality of
graphene de-wrinkling. The utilization of the PVA has significant
effect on de-wrinkling whereas SDS had minimal effect on the dewrinkling
of graphene.
Abstract: This paper seeks to assess the implications of
insurance to foreign direct investment inflow in Nigeria. Multiple
linear regression technique and correlation matrix test were employed
to measure the extent to which foreign direct investment was
influenced. The result showed that insurance premium (IP), asset size
of insurance industry (AS), and total investment of the industry (TI)
impacted significantly and positively on foreign direct investment
inflow in Nigeria. There should be effective risk transfer mechanism
and financial intermediation, which gives the investor confidence in
the risk management strength of the host country.
Abstract: Financial innovations can be regarded as the cause
and the effect of the evolution of the financial system. Most of
financial innovations are created by various financial institutions for
their own purposes and needs. However, due to their diversity,
financial innovations can be also applied by various business entities
(other than financial institutions).
This paper focuses on the potential application of financial
innovations by non-financial companies. It is assumed that financial
innovations may be effectively applied in all fields of corporate
financial decisions integrating financial management with the risk
management process. Appropriate application of financial
innovations may enhance the development of the company and
increase its value by improving its financial situation and reducing
the level of risk. On the other hand, misused financial innovations
may become the source of extra risk for the company threatening its
further operation.
The main objective of the paper is to identify the major types of
financial innovations offered to non-financial companies by the
banking system in Poland. It also aims at identifying the main factors
determining the creation of financial innovations in the banking
system in Poland and indicating future directions of their
development.
This paper consists of conceptual and empirical part. Conceptual
part based on theoretical study is focused on the determinants of the
process of financial innovations and their application by the nonfinancial
companies. Theoretical study is followed by the empirical
research based on the analysis of the actual offer of the 20 biggest
banks operating in Poland with regard to financial innovations
offered to SMEs and large corporations. These innovations are
classified according to the main functions of the integrated financial
management, such as financing, investment, working capital
management and risk management.
Empirical study has proved that the biggest banks operating in the
Polish market offer to their business customers many types and
classes of financial innovations. This offer appears vast and adequate
to the needs and purposes of the Polish non-financial companies. It
was observed that financial innovations pertained to financing
decisions dominate in the banks’ offer. However, due to high
diversification of the offered financial innovations, business
customers may effectively apply them in all fields and areas of
integrated financial management. It should be underlined, that the
banks’ offer is highly dispersed, which may limit the implementation
of financial innovations in the corporate finance. It would be also
recommended for the banks operating in the Polish market to
intensify the education campaign aiming at increasing knowledge
about financial innovations among business customers.
Abstract: Cadmium (II) (Cd) is one of the major toxic elemental
pollutants, which is hazardous for humans, animals and plants. γ-
Polyglutamic acid (γ-PGA) is an extracellular biopolymer produced
by several species of Bacillus which has been reported to be an
effective biosorbent for metal ions. The effect of γ-PGA on growth of
rice grown under laboratory conditions was investigated. Rice seeds
were germinated and then grown at 30±1°C on filter paper soaked
with Cd solution and γ-PGA for 7 days. The result showed that Cd
significantly inhibited the growth of roots, shoots by reducing root,
and shoot lengths. Fresh and dry weights also decreased compared
with control; however, the addition of 500 mg·L-1 γ-PGA alleviated
rice seedlings from the adverse effects of Cd. The analysis of
physiological traits revealed that Cd caused a decrease in the total
chlorophyll and soluble protein contents and amylase activities in all
treatments. The Cd content in seedling tissues increased for the Cd
250 μM treatment (P
Abstract: The paper presents an advanced control system for
tennis ball throwing machines to improve their accuracy according to
the ball impact points. A further advantage of the system is the much
easier calibration process involving the intelligent solution of the
automatic adjustment of the stroking parameters according to the ball
elasticity, the self-calibration, the use of the safety margin at very flat
strokes and the possibility to placing the machine to any position of
the half court. The system applies mathematical methods to
determine the exact ball trajectories and special approximating
processes to access all points on the aimed half court.
Abstract: In order to achieve high data rate and increase the
spectral efficiency, multiple input multiple output (MIMO) system has
been proposed. However, multiple antennas are limited by size and
cost. Therefore, recently developed cooperative diversity scheme,
which profits the transmit diversity only with the existing hardware by
constituting a virtual antenna array, can be a solution. However, most
of the introduced cooperative techniques have a common fault of
decreased transmission rate because the destination should receive the
decodable compositions of symbols from the source and the relay. In
this paper, we propose a cooperative cyclic delay diversity (CDD)
scheme that use hierarchical modulation. This scheme is free from the
rate loss and allows seamless cooperative communication.
Abstract: In this study, electric field distribution analyses for
three pylon models are carried out by a Finite Element Method
(FEM) based software. Analyses are performed in both stationary and
time domains to observe instantaneous values along with the
effective ones. Considering the results of the study, different line
geometries is considerably affecting the magnitude and distribution
of electric field although the line voltages are the same. Furthermore,
it is observed that maximum values of instantaneous electric field
obtained in time domain analysis are quite higher than the effective
ones in stationary mode. In consequence, electric field distribution
analyses should be individually made for each different line model
and the limit exposure values or distances to residential buildings
should be defined according to the results obtained.
Abstract: These days, the industrial trend is moving away from heavy and bulky passive components to power converter systems that use more and more semiconductor elements. Also, it is difficult to connect the traditional converters to the high and medium voltage. For these reasons, a new family of multilevel inverters has appeared as a solution for working with higher voltage levels. Different modulation topologies like Sinusoidal Pulse Width Modulation (SPWM), Selective Harmonic Elimination Pulse Width Modulation (SHE-PWM) are available for multilevel inverters. In this work, different hybrid modulation techniques which are combination of fundamental frequency modulation and multilevel sinusoidal-modulation are compared. The main characteristic of these modulations are reduction of switching losses with good harmonic performance and balanced power loss dissipation among the device. The proposed hybrid modulation schemes are developed and simulated in Matlab/Simulink for cascaded H-bridge inverter. The results validate the applicability of the proposed schemes for cascaded multilevel inverter.
Abstract: By enhancing the applicatıon of grounds for
establishment and due to the lack of appropriate sites, engineers
attempt to seek out a new method to reduce the weakness of soils. İn
aspect of economic situation, various ways have been used to
decrease the weak grounds. Because of the rapid development of
infrastructural facilities, spreading the construction operation is an
obligation. Furthermore, in various sites with the really bad soil
situation, engineers have considered obvious problems. One of the
most essential ways for developing the weak soils is stone column.
Obviously, the method was introduced in France in 1830 to improve
a native soil initially. Stone columns have an expanding range of
usage in different rough foundation sites all over the world to
increase the bearing capacity, to reduce the whole and differential
settlements, to enhance the rate of consolidation, to stabilize slopes
stability of embankments and to increase the liquefaction resistance
as well. A recent procedure called installing vertical nails along the
round stone columns in order to make better the performance of
considered columns is offered. Moreover, thanks to the enhancing the
nail diameter, number and embedment nail depth, the positive points
of vertical circumferential nails increases. Based on the result of this
study, load caring capacity will be develop with enhancing the length
and the power of reinforcements in vertical encasement stone column
(CESC). In this study, the main purpose is comparing two methods of
stone columns (installed a nail surrounding the stone columns and
using geogrid on clay) for enhancing the bearing capacity, decreasing
the whole and various settlements.
Abstract: Commercial banks in Nigeria adopted many strategies
to attract fresh deposits including the use of high deposit rate.
However, pricing of banking services moved in favor of the banks at
the expense of customers, resulting in their seeking other investment
alternatives rather than saving their money in the bank. Both deposit
and lending rates were greatly influenced by the Central Bank of
Nigeria (CBN) decision on interest rate. Therefore, commercial bank
effort to attract deposits via manipulation of her rates was greatly
limited, otherwise the banks will be giving out more than it earned.
The study aimed at examining the relationship between interest rate
and fixed fund deposit of commercial banks, how policy-controlled
interest rate affected commercial bank’s fixed fund deposit The
researcher employed ordinary least square technique, using, multiple
linear regression, unrestricted vector auto-regression, correlation
matrix test, granger causality and impulse response graph in the
analysis. Commercial bank’s interest rates affected commercial
bank’s fixed fund deposit significantly while policy-controlled
interest rate did not significantly transmit through the commercial
bank’s interest rates to affect fixed fund deposit. While commercial
banks seek creative ways to expand their fixed fund deposit, policy
authorities in Nigeria should better coordinate interest rate fluctuation
and induce competition in the entire financial sector.
Abstract: This paper discusses the propagation of sound waves in
air, specifically in narrow rectangular pathways of an occluded-ear
simulator for acoustic measurements. In narrow pathways, both the
speed of sound and the phase of the sound waves are affected by the
damping of the air viscosity. Herein, we propose a new finite-element
method (FEM) that considers the effects of the air viscosity. The
method was developed as an extension of existing FEMs for porous,
sound-absorbing materials. The results of a numerical calculation for a
three-dimensional ear-simulator model using the proposed FEM were
validated by comparing with theoretical lumped-parameter modeling
analysis and standard values.
Abstract: New environmental regulations and the increasing
market preference for companies that respect the ecosystem had
encouraged the industry to look after new treatments for its effluents.
The sugar industry, one of the largest emitter of environmental
pollutants, follows this tendency. Membrane technology is
convenient for separation of suspended solids, colloids and high
molecular weight materials that are present in a wastewater from
sugar industry. The idea is to microfilter the wastewater, where the
permeate passes through the membrane and becomes available for
recycle and re-use in the sugar manufacturing process. For
microfiltration of this effluent a tubular ceramic membrane was used
with a pore size of 200 nm at transmembrane pressure in range of 1–3
bars and in range of flow rate of 50–150 l/h. Kenics static mixer was
used for permeate flux enhancement. Turbidity and suspended solids
were removed and the permeate flux was continuously monitored
during the microfiltration process. The flux achieved after 90 minutes
of microfiltration was in a range of 50–70 l/m2h. The obtained
turbidity decrease was in the range of 50-99 % and total amount of
suspended solids was removed.
Abstract: The possibility of application the dietary fibers in
production of crackers was observed in this work, as well as their
influence on rheological and textural properties on the dough for
crackers and influence on sensory properties of obtained crackers.
Three different dietary fibers, oat, potato and pea fibers, replaced
10% of wheat flour. Long fermentation process and baking test
method were used for crackers production. The changes of dough for
crackers were observed by rheological methods of determination the
viscoelastic dough properties and by textural measurements. Sensory
quality of obtained crackers was described using quantity descriptive
method (QDA) by trained members of descriptive panel. Additional
analysis of crackers surface was performed by videometer. Based on
rheological determination, viscoelastic properties of dough for
crackers were reduced by application of dietary fibers. Manipulation
of dough with 10% of potato fiber was disabled, thus the recipe
modification included increase in water content at 35%. Dough
compliance to constant stress for samples with dietary fibers
decreased, due to more rigid and stiffer dough consistency compared
to control sample. Also, hardness of dough for these samples
increased and dough extensibility decreased. Sensory properties of
final products, crackers, were reduced compared to control sample.
Application of dietary fibers affected mostly hardness, structure and
crispness of the crackers. Observed crackers were low marked for
flavor and taste, due to influence of fibers specific aroma. The sample
with 10% of potato fibers and increased water content was the most
adaptable to applied stresses and to production process. Also this
sample was close to control sample without dietary fibers by
evaluation of sensory properties and by results of videometer method.
Abstract: In insulation and cooling of power transformers
various liquids are used. Mineral oils have wide availability and low
cost. However, they have a poor biodegradability potential and lower
fire point in comparison with other insulating liquids. Use of a liquid
having high biodegradability is important due to environmental
consideration. This paper investigates edible corn oil as an alternative
to mineral oil. Various properties of mineral and corn oil like
breakdown voltage, dissipation factor, relative dielectric constant,
power loss and resistivity were measured according to different
standards.
Abstract: Efficient use of energy, the increase in demand of
energy and also with the reduction of natural energy sources, has
improved its importance in recent years. Most of the losses in the
system from electricity produced until the point of consumption is
mostly composed by the energy distribution system. In this study,
analysis of the resulting loss in power distribution transformer and
distribution power cable is realized which are most of the losses in
the distribution system. Transformer losses in the real distribution
system are analyzed by CYME Power Engineering Software
program. These losses are disclosed for different voltage levels and
different loading conditions.
Abstract: Different designs of attenuator systems have been
studied in this research; new analysis have been done on existed
designs considering fibers effect on air flow; it was comprehended
that, at fibers presence, there is an air flow which agglomerates fibers
as a negative effect. So some new representations have been designed
and CFD analysis has been done on them. Afterwards, one of these
representations selected as the most optimum and effective design
which is brought in this paper.
Abstract: The objective of the study is to assess the
implementation of LED lighting into forest machine work in the dark.
In addition, the paper includes a wide variety of important and
relevant safety and health parameters. In modern, computerized work
in the cab of forest machines, artificial illumination is a demanding
task when performing duties, such as the visual inspections of wood
and computer calculations. We interviewed entrepreneurs and
gathered the following as the most pertinent themes: (1) safety, (2)
practical problems, and (3) work with LED lighting. The most
important comments were in regards to the practical problems of
LED lighting. We found indications of technical problems in
implementing LED lighting, like snow and dirt on the surfaces of
lamps that dim the emission of light. Moreover, service work in the
dark forest is dangerous and increases the risks of on-site accidents.
We also concluded that the amount of blue light to the eyes should be
assessed, especially, when the drivers are working in a semi-dark cab.
Abstract: Application of biochar to arable soils represents a new
approach to restore soil health and quality. Many studies reported the
positive effect of biochar application on soil fertility and
development of soil microbial community. Moreover biochar may
affect the soil water retention, but this effect has not been sufficiently
described yet. Therefore this study deals with the influence of
biochar application on: microbial activities in soil, availability of
mineral nitrogen in soil for microorganisms, mineral nitrogen
retention and plant production. To demonstrate the effect of biochar
addition on the above parameters, the pot experiment was realized.
As a model crop, Lactuca sativa L. was used and cultivated from
December 10th 2014 till March 22th 2015 in climate chamber in
thoroughly homogenized arable soil with and without addition of
biochar. Five variants of experiment (V1 – V5) with different regime
of irrigation were prepared. Variants V1 – V2 were fertilized by
mineral nitrogen, V3 – V4 by biochar and V5 was a control. The
significant differences were found only in plant production and
mineral nitrogen retention. The highest content of mineral nitrogen
in soil was detected in V1 and V2, about 250 % in comparison with
the other variants. The positive effect of biochar application on soil
fertility, mineral nitrogen availability was not found. On the other
hand results of plant production indicate the possible positive effect
of biochar application on soil water retention.
Abstract: The current paper presents an extensive bottom-up
framework for assessing building sector-specific vulnerability to
climate change: energy supply and demand. The research focuses on
the application of downscaled seasonal models for estimating energy
performance of buildings in Greece. The ARW-WRF model has
been set-up and suitably parameterized to produce downscaled
climatological fields for Greece, forced by the output of the CFSv2
model. The outer domain, D01/Europe, included 345 x 345 cells of
horizontal resolution 20 x 20 km2 and the inner domain, D02/Greece,
comprised 180 x 180 cells of 5 x 5 km2 horizontal resolution. The
model run has been setup for a period with a forecast horizon of 6
months, storing outputs on a six hourly basis.