CEO Duality and Firm Performance: An Integration of Institutional Perceptive with Agency Theory

The recommendation of the committee on corporate governance for public companies in Nigeria, that the position of the CEO be separated from board chair has generated serious debate among scholars and practitioners. They have questioned the appropriateness of implementing corporate governance model that is based on Anglo-Saxon agency problem characterized by dispersed ownership structure; where markets for corporate control, legal regulation, and contractual incentives are the key governance mechanisms. This paper strives to resolve the argument by adopting an institutional perspective in testing the agency theory on board duality. The study developed a theoretical and empirical model to better understand how ownership structure influences agency conflict and how such affects firm performance. Hence, the study examines the relationship between CEO duality and firm performance using two institutional ownership structures – dispersed ownership and concentrated ownership structures. The empirical results show that CEO duality is negatively correlated with firm performance in Nigeria irrespective of the firm-s ownership structure. The findings give credence to the recommendation of the Peterside Commission on the need to separate the position of CEO from board chair.

A Study of the Variables in the Optimisation of a Platinum Precipitation Process

This study investigated possible ways to improve the efficiency of the platinum precipitation process using ammonium chloride by reducing the platinum content reporting to the effluent. The ore treated consist of five platinum group metals namely, ruthenium, rhodium, iridium, platinum, palladium and a precious metal gold. Gold, ruthenium, rhodium and iridium were extracted prior the platinum precipitation process. Temperature, reducing agent, flow rate and potential difference were the variables controlled to determine the operation conditions for optimum platinum precipitation efficiency. Hydrogen peroxide was added as the oxidizing agent at the temperature of 85-90oC and potential difference of 700-850mV was the variable used to check the oxidizing state of platinum. The platinum was further purified at temperature between 60-65oC, potential difference above 700 mV, ammonium chloride of 200 l, and at these conditions the platinum content reporting to the effluent was reduced to less than 300ppm, resulting in optimum platinum precipitation efficiency and purity of 99.9%.

Response of BGA-Urea Fertigation as N2 Source on Growth Parameters and Yield of Paddy (Oryza sativa L.) in Agra (India)

Paddy being cultivated since about 10,000 years B.C in Ganga Valley in India, its production reached up to 99 million tons in the year 2012. BGA are of much ecological importance for maintaining the soil fertility and reclaiming the alkalinity. In present investigation attempts were made to identify the local cyanobacterial genera from the paddy fields, BGA application for green farming enabling the paddy to utilize more amount of nitrogen released and to examine its impact along with Urea upon growth and yield responses of the Paddy crop. It was observed that combined treatment of BGA with Urea proved better response in almost all growth parameters and yield attributes except number of tillers/ Plant and grains/ panicle as compared to application of either Urea or BGA alone. The Paddy growers should be encouraged to adopt BGA along with Urea as source of Nitrogen for Paddy cultivation.

Multi-Objective Fuzzy Model in Optimal Sitingand Sizing of DG for Loss Reduction

This paper presents a possibilistic (fuzzy) model in optimal siting and sizing of Distributed Generation (DG) for loss reduction and improve voltage profile in power distribution system. Multi-objective problem is developed in two phases. In the first one, the set of non-dominated planning solutions is obtained (with respect to the objective functions of fuzzy economic cost, and exposure) using genetic algorithm. In the second phase, one solution of the set of non-dominated solutions is selected as optimal solution, using a suitable max-min approach. This method can be determined operation-mode (PV or PQ) of DG. Because of considering load uncertainty in this paper, it can be obtained realistic results. The whole process of this method has been implemented in the MATLAB7 environment with technical and economic consideration for loss reduction and voltage profile improvement. Through numerical example the validity of the proposed method is verified.

A Matching Algorithm of Minutiae for Real Time Fingerprint Identification System

A lot of matching algorithms with different characteristics have been introduced in recent years. For real time systems these algorithms are usually based on minutiae features. In this paper we introduce a novel approach for feature extraction in which the extracted features are independent of shift and rotation of the fingerprint and at the meantime the matching operation is performed much more easily and with higher speed and accuracy. In this new approach first for any fingerprint a reference point and a reference orientation is determined and then based on this information features are converted into polar coordinates. Due to high speed and accuracy of this approach and small volume of extracted features and easily execution of matching operation this approach is the most appropriate for real time applications.

Detecting the Capacity Reserve in an Overhead Line

There are various solutions for improving existing overhead line systems with the general purpose of increasing their limited capacity. The capacity reserve of the existing overhead lines is an important problem that must be considered from different aspects. The paper contains a comparative analysis of the mechanical and thermal limitations of an existing overhead line based on certain calculation conditions characterizing the examined variants. The methodology of the proposed estimation of the permissible conductor temperature and maximum load current is described in detail. The transmission line model consists of specific information of an existing overhead line of the Latvian power network. The main purpose of the simulation tasks is to find an additional capacity reserve by using accurate mathematical models. The results of the obtained data are presented.

Use of Zeolite and Surfactant Modified Zeolite as Ion Exchangers to Control Nitrate Leaching

Nitrogen loss from irrigated cropland, particularly sandy soils, significantly contributes to nitrate (NO3 -) levels in surface and groundwaters. Thus, it is of great interest to use inexpensive natural products that can increase the fertilizer efficiency and decrease nitrate leaching. In this study, the ability of natural Iranian zeolite clinoptilolite (Cp) and surfactant modified zeolite clinoptilolite (SMZ) to remove NH4 + and NO3 -, respectively, from aqueous solutions was determined. The feasibility of using Cp and SMZ as soil amendment to reduce nitrate leaching from soil using lysimeters was also investigated. Zeolite showed 10.23% to 88.42% NH4 + removal efficiency over a wide range of initial NH4 + concentrations. Nitrate removal efficiency by SMZ was 32.26% to 82.26%. Field study results showed that Cp and SMZ significantly (p < 0.05) reduced leachate NO3-N concentration compared to control. There was no significant difference between maximum and mean leachate NO3-N concentration of SMZ lysimeters and those of Cp lysimeters.

Conceptual Design and Characterization of Contractile Water Jet Thruster Using IPMC Actuator

This paper presents the design, development and characterization of contractile water jet thruster (CWJT) for mini underwater robot. Instead of electric motor, this CWJT utilizes the Ionic Polymer Metal Composite (IPMC) as the actuator to generate the water jet. The main focus of this paper is to analyze the conceptual design of the proposed CWJT which would determine the thrust force value, jet flow behavior and actuator’s stress. Those thrust force and jet flow studies were carried out using Matlab/Simscape simulation software. The actuator stress had been analyzed using COSMOS simulation software. The results showed that there was no significant change for jet velocity at variable cross sectional nozzle area. However, a significant change was detected for jet velocity at different nozzle cross sectional area ratio which was up to 37%. The generated thrust force has proportional relation to the nozzle cross sectional area.

High Wire Act: the Perils, Pitfalls and Possibilities of Online Discussions

Online discussions are an important component of both blended and online courses. This paper examines the varieties of online discussions and the perils, pitfalls and possibilities of this rather new technological tool for enhanced learning. The discussion begins with possible perils and pitfalls inherent in this educational tool and moves to a consideration of the advantages of the varieties of online discussions feasible for use in teacher education programs.

About Methods of Additional Mining Pressure Figuring while Reconstruction of Tunnels

At the end of the 20th century it was actual the development of transport corridors and the improvement of their technical parameters. With this purpose, many countries and Georgia among them manufacture to construct new highways, railways and also reconstruction-modernization of the existing transport infrastructure. It is necessary to explore the artificial structures (bridges and tunnels) on the existing tracks as they are very old. Conference report includes the peculiarities of reconstruction of tunnels, because we think that this theme is important for the modernization of the existing road infrastructure. We must remark that the methods of determining mining pressure of tunnel reconstructions are worked out according to the jobs of new tunnels but it is necessary to foresee additional mining pressure which will be formed during their reconstruction. In this report there are given the methods of figuring the additional mining pressure while reconstruction of tunnels, there was worked out the computer program, it is determined that during reconstruction of tunnels the additional mining pressure is 1/3rd of main mining pressure.

Effect of Conservation Agriculture on Maize Yield in the Transilvanian Plain, Romania

An experimental study is presented on the effect of Conservation Agriculture (CA) compared to Conventional Agriculture (ConvA) upon Maize Yield based on split-plot model. Two factors have been considered: A Factor-Fertilization with two variants: A1- N40P40 kg/ha and A2- N90P70 kg/ha; B Factor- Crop protection with 4 variants : B1- 4 treatments, B2-3 treatments, B3- 2 treatments and B4- 1 treatment. In comparison with conventional agriculture, CA determined lower maize yields. Fertilization is the key factor determining a yield gain of 973.58 kg/ha in ConvA and 1,123.33 kg/ha in CA. A reduced number of treatments determined a yield decline. The A-B interaction had a positive effect on maize yield when a larger amount of fertilizer and 4 or 3 treatments were applied in ConvA and a benefic in CA for highest fertilization level and 2 treatments. The B2A2 ConvA variant was the most efficient leading to 302.67 kg/ha gain while B3A2 CA variant brought 181.33 kg production gain.

Advancing the Theory of Planned Behavior within Dietary and Physical Domains among Type 2 Diabetics: A Mixed Methods Approach

Many studies have applied the Theory of Planned Behavior (TPB) in predicting health behaviors among unique populations. However, a new paradigm is emerging where focus is now directed to modification and expansion of the TPB model rather than utilization of the traditional theory. This review proposes new models modified from the Theory of Planned Behavior and suggest an appropriate study design that can be used to test the models within physical activity and dietary practice domains among Type 2 diabetics in Kenya. The review was conducted by means of literature search in the field of nutrition behavior, health psychology and mixed methods using predetermined key words. The results identify pre-intention and post intention gaps within the TPB model that need to be filled. Additional psychosocial factors are proposed to be included in the TPB model to generate new models and the efficacy of these models tested using mixed methods design.

Optimization and Kinetic Study of Gaharu Oil Extraction

Gaharu that produced by Aquilaria spp. is classified as one of the most valuable forest products traded internationally as it is very resinous, fragrant and highly valuable heartwood. Gaharu has been widely used in aromatheraphy, medicine, perfume and religious practices. This work aimed to determine the factors affecting solid liquid extraction of gaharu oil using hexane as solvent under experimental condition. The kinetics of extraction was assumed and verified based on a second-order mechanism. The effect of three main factors, which were temperature, reaction time and solvent to solid ratio were investigated to achieve maximum oil yield. The optimum condition were found at temperature 65°C, 9 hours reaction time and solvent to solid ratio of 12:1 with 14.5% oil yield. The kinetics experimental data agrees and well fitted with the second order extraction model. The initial extraction rate (h) was 0.0115 gmL-1min-1; the extraction capacity (Cs) was 1.282gmL-1; the second order extraction constant (k) was 0.007 mLg-1min-1 and coefficient of determination, R2 was 0.945.

Antibacterial Activity of the Chennopodium album Leaves and Flowers Extract

Recent years have instance that there is a invigoration of interest in drug discovery from medicinal plants for the support of health in all parts of the world . This study was designed to examine the in vitro antimicrobial activities of the flowers and leaves methanolic and ethanolic extracts of Chenopodium album L. Chenopodium album Linn. flowers and leaves were collected from East Esfahan, Iran. The effects of methanolic and ethanolic extracts were tested against 4 bacterial strains by using disc,well-diffusion method. Results showed that flowers and leaves methanolic and ethanolic extracts of C.album don-t have any activity against the selected bacterial strains. Our study has indicated that ,there are effective different factors on antimicrobial properties of plant extracts

Do Students Really Understand Topology in the Lesson? A Case Study

This study aims to specify to what extent students understand topology during the lesson and to determine possible misconceptions. 14 teacher trainees registered at Secondary School Mathematics education department were observed in the topology lessons throughout a semester and data collected at the first topology lesson is presented here. Students- knowledge was evaluated using a written test right before and after the topology lesson. Thus, what the students learnt in terms of the definition and examples of topologic space were specified as well as possible misconceptions. The findings indicated that students did not fully comprehend the topic and misunderstandings were due to insufficient pre-requisite knowledge of abstract mathematical topics and mathematical notation.

Robust H∞ Filter Design for Uncertain Fuzzy Descriptor Systems: LMI-Based Design

This paper examines the problem of designing a robust H∞ filter for a class of uncertain fuzzy descriptor systems described by a Takagi-Sugeno (TS) fuzzy model. Based on a linear matrix inequality (LMI) approach, LMI-based sufficient conditions for the uncertain nonlinear descriptor systems to have an H∞ performance are derived. To alleviate the ill-conditioning resulting from the interaction of slow and fast dynamic modes, solutions to the problem are given in terms of linear matrix inequalities which are independent of the singular perturbation ε, when ε is sufficiently small. The proposed approach does not involve the separation of states into slow and fast ones and it can be applied not only to standard, but also to nonstandard uncertain nonlinear descriptor systems. A numerical example is provided to illustrate the design developed in this paper.

Using Combination of Optimized Recurrent Neural Network with Design of Experiments and Regression for Control Chart Forecasting

recurrent neural network (RNN) is an efficient tool for modeling production control process as well as modeling services. In this paper one RNN was combined with regression model and were employed in order to be checked whether the obtained data by the model in comparison with actual data, are valid for variable process control chart. Therefore, one maintenance process in workshop of Esfahan Oil Refining Co. (EORC) was taken for illustration of models. First, the regression was made for predicting the response time of process based upon determined factors, and then the error between actual and predicted response time as output and also the same factors as input were used in RNN. Finally, according to predicted data from combined model, it is scrutinized for test values in statistical process control whether forecasting efficiency is acceptable. Meanwhile, in training process of RNN, design of experiments was set so as to optimize the RNN.

Shariah Views on the Components of Profit Rate in Al-Murabahah Asset Financing in Malaysian Islamic Bank

Al-Murabahah is an Islamic financing facility used in asset financing, the profit rate of the contract is determined by components which are also being used in the conventional banking. Such are cost of fund, overhead cost, risk premium cost and bank-s profit margin. At the same time, the profit rate determined by Islamic banking system also refers to Inter-Bank Offered Rate (LIBOR) in London as a benchmark. This practice has risen arguments among Muslim scholars in term of its validity of the contract; whether the contract maintains the Shariah compliance or not. This paper aims to explore the view of Shariah towards the above components practiced by Islamic Banking in determining the profit rate of al-murabahah asset financing in Malaysia. This is a comparative research which applied the views of Muslim scholars from all major mazahibs in Islamic jurisprudence and examined the practices by Islamic banks in Malaysia for the above components. The study found that the shariah accepts all the components with conditions. The cost of fund is accepted as a portion of al-mudarabah-s profit, the overhead cost is accepted as a cost of product, risk premium cost consist of business risk and mitigation risk are accepted through the concept of alta-awun and bank-s profit margin is accepted as a right of bank after venturing in risky investment.

Lightweight Materials Obtained by Utilization of Agricultural Waste

Lightweight ceramic materials in the form of bricks and blocks are widely used in modern construction. They may be obtained by adding of rice husk, rye straw, etc, as porous forming materials. Rice husk is a major by-product of the rice milling industry. Its utilization as a valuable product has always been a problem. Various technologies for utilization of rice husk through biological and thermochemical conversion are being developed. The purpose of this work is to develop lightweight ceramic materials with clay matrix and filler of rice husk and examine their main physicomechanical properties. The results obtained allow to suppose that the materials synthesized on the basis of waste materials can be used as lightweight materials for construction purpose.