The Determinants of Corporate Cash Holdings in Nigeria: Evidence from General Method of Moments (GMM)

The study examines the determinants of corporate cash holding of non-financial quoted firms in Nigeria using a sample of fifty four non-financial quoted firms listed on the Nigeria Stock Exchange for the period 1995-2009. Data were sourced from the Annual reports of the sampled firms and analyzed using Generalized Method of Moments(GMM). The study finds evidence supportive of a target adjustment model and that firms can not instantaneously adjust towards the target cash level owing to the fact that adjustment cost being costly,. Also, the result shows significant negative relationship between cash holdings and firm size, net working capital, return on asset and bank relationship and positive relationship with growth opportunities, leverage, inventories, account receivables and financial distress. Furthermore, there is no significant relationship between cash holdings and cash flow. In Nigerian setting, most of the variables that are relevant for explaining cash holdings in the Developed countries are found by this study to be relevant also in Nigeria.

HDS: Alumina- Boria Supported Catalysts

Hydrodesulfurization (HDS) of dibenzothiophene (DBT) in a high pressure batch reactor was done at 320 °C on CoMoS/Al2O3-B2O3 (4, 10, and 16 wt. % of Boria) using nhexadecane as solvent, dimethyldisulfide (DMDS) in tetradecane as sulfur agent, and stirring at 1000 rpm. The effects of boria were investigated by using X-ray diffraction (XRD), Temperature programmed desorption (TPD) of ammonia, and Brunauer-Emmet- Teller (BET) experiments. The results showed that the catalyst prepared with low boria content (4 wt. %) had HDS activity (in pseudo first order kinetic constant basis) value ~1.45 times higher to that of CoMoS/Al2O3 catalyst.

Fixture Layout Optimization for Large Metal Sheets Using Genetic Algorithm

The geometric errors in the manufacturing process can be reduced by optimal positioning of the fixture elements in the fixture to make the workpiece stiff. We propose a new fixture layout optimization method N-3-2-1 for large metal sheets in this paper that combines the genetic algorithm and finite element analysis. The objective function in this method is to minimize the sum of the nodal deflection normal to the surface of the workpiece. Two different kinds of case studies are presented, and optimal position of the fixturing element is obtained for different cases.

Authoritarian Parenting Received from Mothers Reveals Individual Differences in Preschooler's False-belief, but not in Advanced Theory of Mind

Remarkable changes, like the progress in the ability to understand others' minds, can be identified in several socio-cognitive dimensions between age four and seven. Recently, the parenting attitudes have been considerate as one of the potential extrinsic modifiers of these important developmental aspects. The aim of present study is to explore the relationship among authoritarian parenting attitudes and individual differences in Theory of Mind performance. The study included ninety-two Costarrican preschoolers. Six False-belief tasks, an Advanced Theory of Mind test and the Parenting Attitudes Inventory were used. The results demonstrate that participants with high and low Authoritarian Parenting Received differ in their performance on First and Second Order False-belief tasks, but not in Advanced Theory of Mind tasks. Theoretical considerations about possible explanations regarding these results are discussed and methodological limitations are considered to shed light over future directions.

mCRM-s New Opportunities of Customer Satisfaction

This paper aims at a new challenge of customer satisfaction on mobile customer relationship management. In this paper presents a conceptualization of mCRM on its unique characteristics of customer satisfaction. Also, this paper develops an empirical framework in conception of customer satisfaction in mCRM. A single-case study is applied as the methodology. In order to gain an overall view of the empirical case, this paper accesses to invisible and important information of company in this investigation. Interview is the key data source form the main informants of the company through which the issues are identified and the proposed framework is built. It supports the development of customer satisfaction in mCRM; links this theoretical framework into practice; and provides the direction for future research. Therefore, this paper is very useful for the industries as it helps them to understand how customer satisfaction changes the mCRM structure and increase the business competitive advantage. Finally, this paper provides a contribution in practice by linking a theoretical framework in conception of customer satisfaction in mCRM for companies to a practical real case.

GeNS: a Biological Data Integration Platform

The scientific achievements coming from molecular biology depend greatly on the capability of computational applications to analyze the laboratorial results. A comprehensive analysis of an experiment requires typically the simultaneous study of the obtained dataset with data that is available in several distinct public databases. Nevertheless, developing a centralized access to these distributed databases rises up a set of challenges such as: what is the best integration strategy, how to solve nomenclature clashes, how to solve database overlapping data and how to deal with huge datasets. In this paper we present GeNS, a system that uses a simple and yet innovative approach to address several biological data integration issues. Compared with existing systems, the main advantages of GeNS are related to its maintenance simplicity and to its coverage and scalability, in terms of number of supported databases and data types. To support our claims we present the current use of GeNS in two concrete applications. GeNS currently contains more than 140 million of biological relations and it can be publicly downloaded or remotely access through SOAP web services.

A Talking Head System for Korean Text

A talking head system (THS) is presented to animate the face of a speaking 3D avatar in such a way that it realistically pronounces the given Korean text. The proposed system consists of SAPI compliant text-to-speech (TTS) engine and MPEG-4 compliant face animation generator. The input to the THS is a unicode text that is to be spoken with synchronized lip shape. The TTS engine generates a phoneme sequence with their duration and audio data. The TTS applies the coarticulation rules to the phoneme sequence and sends a mouth animation sequence to the face modeler. The proposed THS can make more natural lip sync and facial expression by using the face animation generator than those using the conventional visemes only. The experimental results show that our system has great potential for the implementation of talking head for Korean text.

Design of a Permanent Magnet Synchronous Machine for the Hybrid Electric Vehicle

Permanent magnet synchronous machines are known as a good candidate for hybrid electric vehicles due to their unique merits. However they have two major drawbacks i.e. high cost and small speed range. In this paper an optimal design of a permanent magnet machine is presented. A reduction of permanent magnet material for a constant torque and an extension in speed and torque ranges are chosen as the optimization aims. For this purpose the analytical model of the permanent magnet synchronous machine is derived and the appropriate design algorithm is devised. The genetic algorithm is then employed to optimize some machine specifications. Finally the finite element method is used to validate the designed machine.

Optimization of Material Removal Rate in Electrical Discharge Machining Using Fuzzy Logic

The objective of present work is to stimulate the machining of material by electrical discharge machining (EDM) to give effect of input parameters like discharge current (Ip), pulse on time (Ton), pulse off time (Toff) which can bring about changes in the output parameter, i.e. material removal rate. Experimental data was gathered from die sinking EDM process using copper electrode and Medium Carbon Steel (AISI 1040) as work-piece. The rules of membership function (MF) and the degree of closeness to the optimum value of the MMR are within the upper and lower range of the process parameters. It was found that proposed fuzzy model is in close agreement with the experimental results. By Intelligent, model based design and control of EDM process parameters in this study will help to enable dramatically decreased product and process development cycle times.

The Control Vector Scheme for Design of Planar Primitive PH curves

The PH curve can be constructed by given parameters, but the shape of the curve is not so easy to image from the value of the parameters. On the contract, Bézier curve can be constructed by the control polygon, and from the control polygon, we can image the figure of the curve. In this paper, we want to use the hodograph of Bézier curve to construct PH curve by selecting part of the control vectors, and produce other control vectors, so the property of PH curve exists.

A Reproduction of Boundary Conditions in Three-Dimensional Continuous Casting Problem

The paper discusses a 3D numerical solution of the inverse boundary problem for a continuous casting process of alloy. The main goal of the analysis presented within the paper was to estimate heat fluxes along the external surface of the ingot. The verified information on these fluxes was crucial for a good design of a mould, effective cooling system and generally the whole caster. In the study an enthalpy-porosity technique implemented in Fluent package was used for modeling the solidification process. In this method, the phase change interface was determined on the basis of the liquid fraction approach. In inverse procedure the sensitivity analysis was applied for retrieving boundary conditions. A comparison of the measured and retrieved values showed a high accuracy of the computations. Additionally, the influence of the accuracy of measurements on the estimated heat fluxes was also investigated.

Kinetics of Palm Oil Cracking in Batch Reactor

The kinetics of palm oil catalytic cracking over aluminum containing mesoporous silica Al-MCM-41 (5% Al) was investigated in a batch autoclave reactor at the temperatures range of 573 – 673 K. The catalyst was prepared by using sol-gel technique and has been characterized by nitrogen adsorption and x-ray diffraction methods. Surface area of 1276 m2/g with average pore diameter of 2.54 nm and pore volume of 0.811 cm3/g was obtained. The experimental catalytic cracking runs were conducted using 50 g of oil and 1 g of catalyst. The reaction pressure was recorded at different time intervals and the data were analyzed using Levenberg- Marquardt (LM) algorithm using polymath software. The results show that the reaction order was found to be -1.5 and activation energy of 3200 J/gmol.

Estimation of Forest Fire Emission in Thailand by Using Remote Sensing Information

The forest fires in Thailand are annual occurrence which is the cause of air pollutions. This study intended to estimate the emission from forest fire during 2005-2009 using MODerateresolution Imaging Spectro-radiometer (MODIS) sensor aboard the Terra and Aqua satellites, experimental data, and statistical data. The forest fire emission is estimated using equation established by Seiler and Crutzen in 1982. The spatial and temporal variation of forest fire emission is analyzed and displayed in the form of grid density map. From the satellite data analysis suggested between 2005 and 2009, the number of fire hotspots occurred 86,877 fire hotspots with a significant highest (more than 80% of fire hotspots) in the deciduous forest. The peak period of the forest fire is in January to May. The estimation on the emissions from forest fires during 2005 to 2009 indicated that the amount of CO, CO2, CH4, and N2O was about 3,133,845 tons, 47,610.337 tons, 204,905 tons, and 6,027 tons, respectively, or about 6,171,264 tons of CO2eq. They also emitted 256,132 tons of PM10. The year 2007 was found to be the year when the emissions were the largest. Annually, March is the period that has the maximum amount of forest fire emissions. The areas with high density of forest fire emission were the forests situated in the northern, the western, and the upper northeastern parts of the country.

Promoting Electric Vehicles for Sustainable Urban Transport: How to Do It This Time Right

In recent years various types of electric vehicles has gained again increasing attention as an environmentally benign technology in transport. Especially for urban areas with high local pollution this Zero-emission technology (at the point of use) is considered to provide proper solutions. Yet, the bad economics and the limited driving ranges are still major barriers for a broader market penetration of battery electric vehicles (BEV) and of fuel cell vehicles (FCV). The major result of our analyses is that the most important precondition for a further dissemination of BEV in urban areas are emission-free zones. This is an instrument which allows the promotion of BEV without providing excessive subsidies. In addition, it is important to note that the full benefits of EV can only be harvested if the electricity used is produced from renewable energy sources. That is to say, it has to be ensured that the use of BEV in urban areas is clearly linked to a green electricity purchase model. And moreover, the introduction of a CO2- emission-based tax system would support this requirement.

Development and in vitro Characterization of Self-nanoemulsifying Drug Delivery Systems of Valsartan

The present study is aim to prepare and evaluate the selfnanoemulsifying drug delivery (SNEDDS) system of a poorly water soluble drug valsartan in order to achieve a better dissolution rate which would further help in enhancing oral bioavailability. The present research work describes a SNEDDS of valsartan using labrafil M 1944 CS, Tween 80 and Transcutol HP. The pseudoternary phase diagrams with presence and absence of drug were plotted to check for the emulsification range and also to evaluate the effect of valsartan on the emulsification behavior of the phases. The mixtures consisting of oil (labrafil M 1944 CS) with surfactant (tween 80), co-surfactant (Transcutol HP) were found to be optimum formulations. Prepared formulations were evaluated for its particle size distribution, nanoemulsifying properties, robustness to dilution, self emulsication time, turbidity measurement, drug content and invitro dissolution. The optimized formulations are further evaluated for heating cooling cycle, centrifugation studies, freeze thaw cycling, particle size distribution and zeta potential were carried out to confirm the stability of the formed SNEDDS formulations. The prepared formulation revealed t a significant improvement in terms of the drug solubility as compared with marketed tablet and pure drug.

Incentives to Introduce Environmental Management System in the Context of Building an eco-Innovative Potential – A Case of Podkarpackie Voivodeship

This paper shows the results of empirical research. It presents experiences of Polish companies from the Podkarpackie voivodeship connected with implementing EMS according to the requirements of the ISO 14001 international standard. The incentives to introduce and certify organizational eco-innovation, which formal EMSs are treated as, are presented in this paper.

Kinetics of Polyethylene Terephthalate (PET)and Polystyrene (PS) Dynamic Pyrolysis

Thermo-chemical treatment (TCT) such as pyrolysis is getting recognized as a valid route for (i) materials and valuable products and petrochemicals recovery; (ii) waste recycling; and (iii) elemental characterization. Pyrolysis is also receiving renewed attention for its operational, economical and environmental advantages. In this study, samples of polyethylene terephthalate (PET) and polystyrene (PS) were pyrolysed in a microthermobalance reactor (using a thermogravimetric-TGA setup). Both polymers were prepared and conditioned prior to experimentation. The main objective was to determine the kinetic parameters of the depolymerization reactions that occur within the thermal degradation process. Overall kinetic rate constants (ko) and activation energies (Eo) were determined using the general kinetics theory (GKT) method previously used by a number of authors. Fitted correlations were found and validated using the GKT, errors were within ± 5%. This study represents a fundamental step to pave the way towards the development of scaling relationship for the investigation of larger scale reactors relevant to industry.

Phase Equilibrium in Aqueous Two-phase Systems Containing Poly (propylene glycol) and Sodium Citrate at Different pH

The phase diagrams and compositions of coexisting phases have been determined for aqueous two-phase systems containing poly(propylene glycol) with average molecular weight of 425 and sodium citrate at various pH of 3.93, 4.44, 4.6, 4.97, 5.1, 8.22. The effect of pH on the salting-out effect of poly (propylene glycol) by sodium citrate has been studied. It was found that, an increasing in pH caused the expansion of two-phase region. Increasing pH also increases the concentration of PPG in the PPGrich phase, while the salt-rich phase will be somewhat mole diluted.

Combining Molecular Statics with Heat Transfer Finite Difference Method for Analysis of Nanoscale Orthogonal Cutting of Single-Crystal Silicon Temperature Field

This paper uses quasi-steady molecular statics model and diamond tool to carry out simulation temperature rise of nanoscale orthogonal cutting single-crystal silicon. It further qualitatively analyzes temperature field of silicon workpiece without considering heat transfer and considering heat transfer. This paper supposes that the temperature rise of workpiece is mainly caused by two heat sources: plastic deformation heat and friction heat. Then, this paper develops a theoretical model about production of the plastic deformation heat and friction heat during nanoscale orthogonal cutting. After the increased temperature produced by these two heat sources are added up, the acquired total temperature rise at each atom of the workpiece is substituted in heat transfer finite difference equation to carry out heat transfer and calculates the temperature field in each step and makes related analysis.

Elaboration and Optimization of Pellets Used for Precise Glass Grinding

In this work, grinding or microcutting tools in the form of pellets were manufactured using a bounded alumina abrasive grains. The bound used is a vitreous material containing quartz feldspars, kaolinite and a quantity of hematite. The pellets were used in glass grinding process to replace the free abrasive grains lapping process. The study of the elaborated pellets were done to define their effectiveness in the grinding process and to optimize the influence of the pellets elaboration parameters. The obtained results show the existence of an optimal combination of the pellets elaboration parameters for each glass grinding phase (coarse to fine grinding). The final roughness (rms) reached by the elaborated pellets on a BK7 glass surface was about 0.392 μm.