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: Twin steel plates-concrete composite shear walls are
composed of a pair of steel plate layers and a concrete layer
sandwiched between them, which have the characteristics of both
reinforced concrete shear walls and steel plate shear walls. Twin steel
plates-composite shear walls contain very high ultimsate bearing
capacity and ductility, which have great potential to be applied in the
super high-rise buildings and special structures. In this paper, we
analyzed the basic characteristics and stress mechanism of the twin
steel plates-composite shear walls. Specifically, we analyzed the
effects of the steel plate thickness, wall thickness and concrete
strength on the bearing capacity of the twin steel plates-composite
shear walls. The analysis results indicate that: (1) the initial shear
stiffness and ultimate shear-carrying capacity is not significantly
affected by the thickness of concrete wall but by the class of concrete,
(2) both factors significantly impact the shear distribution of the
shear walls in ultimate shear-carrying capacity. The technique of twin
steel plates-composite shear walls has been successfully applied in
the construction of an 88-meter Huge Statue of Buddha located in
Hunan Province, China. The analysis results and engineering
experiences showed that the twin steel plates-composite shear walls
have great potential for future research and applications.
Abstract: This research paper presents the current practices of
teacher professional development, perceived as beneficial by teachers
themselves, in a private secondary school in Brunei Darussalam. This
is part of the findings of a larger qualitative study on teacher
empowerment, using ethnographic methods for data collection, i.e.
participant observation, interviews and document analysis. The field
work was carried out over a period of six months in 2013. An
analysis of the field data revealed multiple pathways of teacher
professional development existing in the school. The results indicate
that school leaders, the teacher community in the school, students,
and the teachers themselves were the agents in a school that
facilitated teacher empowerment. Besides contributing to the
knowledge base on teacher professional development, the results of
this study provide directions for educational policy makers in their
efforts to enhance professional development in secondary schools of
similar characteristics. For school leaders and the teacher community,
these findings offer guidelines for maximizing the opportunities for
these professional development practices, by strengthening
collegiality and by using the existing structures optimally for the
benefit of all concerned.
Abstract: Photovoltaic (PV) power generation systems, mainly
small scale, are rapidly being deployed in Jordan. The impact of these
systems on the grid has not been studied or analyzed. These systems
can cause many technical problems such as reverse power flows and
voltage rises in distribution feeders, and real and reactive power
transients that affect the operation of the transmission system. To
fully understand and address these problems, extensive research,
simulation, and case studies are required. To this end, this paper
studies the cloud shadow effect on the power generation of a ground
mounted PV system installed at the test field of the Renewable
Energy Center at the Applied Science University.
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: The localization information is crucial for the
operation of WSN. There are principally two types of localization
algorithms. The Range-based localization algorithm has strict
requirements on hardware, thus is expensive to be implemented in
practice. The Range-free localization algorithm reduces the hardware
cost. However, it can only achieve high accuracy in ideal scenarios.
In this paper, we locate unknown nodes by incorporating the
advantages of these two types of methods. The proposed algorithm
makes the unknown nodes select the nearest anchor using the
Received Signal Strength Indicator (RSSI) and choose two other
anchors which are the most accurate to achieve the estimated
location. Our algorithm improves the localization accuracy compared
with previous algorithms, which has been demonstrated by the
simulating results.
Abstract: In this article, a method is presented to effectively
estimate the deformed shape of a thick plate due to line heating. The
method uses a fifth order spline interpolation, with up to C3
continuity at specific points to compute the shape of the deformed
geometry. First and second order derivatives over a surface are the
resulting parameters of a given heating line on a plate. These
parameters are determined through experiments and/or finite element
simulations. Very accurate kriging models are fitted to real or virtual
surfaces to build-up a database of maps. Maps of first and second
order derivatives are then applied on numerical plate models to
evaluate their evolving shapes through a sequence of heating lines.
Adding an optimization process to this approach would allow
determining the trajectories of heating lines needed to shape complex
geometries, such as Francis turbine blades.
Abstract: Despite the financial crisis and ongoing need for cost
cutting, companies all around the world heavily invest in Information
Systems (IS) and underlying Information Technology (IT).
Proliferation of governance of enterprise IT helps companies manage,
or rather, governs IS as a primary business function with executive
management involved in making decision about IS and IT. The
business value of IT is raising with the involvement of the executive
management in IT decision making process and quality IT
governance mechanisms in place. In this paper the practice of
governing the enterprise IT will be investigated on a sample of the
largest 100 Croatian companies. Research questions posed here will
reveal if there are some formal IT governance mechanisms, are there
any differences in perceived role of IS and IT between CIOs (Chief
Information Officers) and CEOs (Chief Executive Officers) of the
sampled companies and what are the mechanisms to govern massive
investment in enterprise IT.
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: The right to basic sanitation, was elevated to the
category of fundamental right by the Constitution of 1988 to protect
the ecologically balanced environment, ensuring social rights to
health and adequate housing and put the dignity of the human person
as the foundation of the Brazilian Democratic State. Before their
essentiality to humans, this article seeks to understand why universal
access to basic sanitation is a goal so difficult to achieve in Brazil.
Therefore, this research uses the deductive and analytical method.
Given the nature of the research literature, research techniques were
centered in specialized books on the subject, journals, theses and
dissertations, laws, relevant law case and raising social indicators
relating to the theme. The relevance of the topic stems, among other
things, the fact that sanitation services are essential for a dignified
life, i.e., everyone is entitled to the maintenance of the necessary
existence conditions are satisfied. However, the effectiveness of this
right is undermined in society, since Brazil has huge deficit in
sanitation services, denying thus a worthy life to most of the
population. Thus, it can be seen that the provision of water and
sewage services in Brazil is still characterized by a large imbalance,
since the municipalities with lower population index have greater
disability in the sanitation service. The truth is that the precariousness
of water and sewage services in Brazil is still very concentrated in the
North and Northeast regions, limiting the effective implementation of
the Law 11.445/2007 in the country. Therefore, there is urgent need
for a positive service by the State in the provision of sanitation
services in order to prevent and control disease, improve quality of
life and productivity of individuals, besides preventing contamination
of water resources. More than just social and economic necessity,
there is a government duty to implement such services. In this sense,
given the current scenario, to achieve universal access to basic
sanitation imposes many hurdles. These are mainly in the field of
properly formulated and implemented public policies, i.e., it requires
an excellent institutional organization, management services,
strategic planning, social control, in order to provide answers to
complex challenges.
Abstract: The objective of this study was to evaluate the
effects of calving season on the production and economic efficiency
of dairy farms in Egypt. Our study was performed at dairy
production farms in the Alexandria, Behera, and Kafr El-Sheikh
provinces of Egypt from summer 2010 to winter 2013. The
randomly selected dairy farms had herds consisting of Baladi,
Holstein-Friesian, or cross-bred (Baladi × Holstein-Friesian) cows.
The data were collected from production records and responses to a
structured questionnaire. The average total return differed
significantly (P < 0.05) between the different cattle breeds and
calving seasons. The average total return was highest for the
Holstein- Friesian cows that calved in the winter (29106.42
EGP/cow/year), and it was lowest for Baladi cows that calved in the
summer (12489.79 EGP/cow/year). Differences in total returns
between the cows that calved in the winter or summer or between
the foreign and native breeds, as well as variations in calf prices,
might have contributed to the differences in milk yield. The average
net profit per cow differed significantly (P < 0.05) between the cattle
breeds and calving seasons. The average net profit values for the
Baladi cows that calved in the winter or summer were 2413 and
2994.96 EGP/cow/year, respectively, and those for the Holstein-
Friesian cows were 10744.17 and 7860.56 EGP/cow/year,
respectively, whereas those for the cross-bred cows were 10174.86
and 7571.33 EGP/cow/year, respectively. The variations in net profit
might have resulted from variation in the availability or price of feed
materials, milk prices, or sales volumes. Our results show that the
breed and calving season of dairy cows significantly affected the
economic efficiency of dairy farms in Egypt. The cows that calved
in the winter produced more milk than those that calved in the
summer, which may have been the result of seasonal influences,
such as temperature, humidity, management practices, and the type
of feed or green fodder available.
Abstract: This paper presents the influences on the entrainment
of serpentines by grinding and reagents during copper–nickel sulfide
flotation. The previous bench flotation tests were performed to extract
the metallic values from the ore in Yunnan Mine, China and the
relatively satisfied results with recoveries of 86.92% Cu, 54.92% Ni,
and 74.73% Pt+Pd in the concentrate were harvested at their grades of
4.02%, 3.24% and 76.61 g/t, respectively. However, the content of
MgO in the concentrate was still more than 19%. Micro-flotation tests
were conducted with the objective of figuring out the influences on the
entrainment of serpentines into the concentrate by particle size,
flocculants or depressants and collectors, as well as visual
observations in suspension by OLYMPUS camera. All the tests results
pointed to the presences of both “entrapped-in” serpentines and its
coating on the hydrophobic flocs resulted from strong collectors
(combination of butyl xanthate, butyl ammonium dithophosphate,
even after adding carboxymethyl cellulose as effective depressant.
And fine grinding may escalate the entrainment of serpentines in the
concentrate.
Abstract: In this work, the plastic behaviour of cold-rolled zinc
coated dual-phase steel sheets DP600 and DP800 grades is firstly
investigated with the help of uniaxial, hydraulic bulge and Forming
Limit Curve (FLC) tests. The uniaxial tensile tests were performed in
three angular orientations with respect to the rolling direction to
evaluate the strain-hardening and plastic anisotropy. True stressstrain
curves at large strains were determined from hydraulic bulge
testing and fitted to a work-hardening equation. The limit strains are
defined at both localized necking and fracture conditions according to
Nakajima’s hemispherical punch procedure. Also, an elasto-plastic
localization model is proposed in order to predict strain and stress
based forming limit curves. The investigated dual-phase sheets
showed a good formability in the biaxial stretching and drawing FLC
regions. For both DP600 and DP800 sheets, the corresponding
numerical predictions overestimated and underestimated the
experimental limit strains in the biaxial stretching and drawing FLC
regions, respectively. This can be attributed to the restricted failure
necking condition adopted in the numerical model, which is not
suitable to describe the tensile and shear fracture mechanisms in
advanced high strength steels under equibiaxial and biaxial stretching
conditions.
Abstract: The Multiple Intelligences theory characterizes human
intelligence as a multifaceted entity that exists in all human beings
with varying degrees. The most important contribution of this theory
to the field of English Language Teaching (ELT) is its role in
identifying individual differences and designing more learnercentered
programs. The present study aims at investigating the
relationship between different elements of multiple intelligence and
grammar scores. To this end, 63 female Iranian EFL learner selected
from among intermediate students participated in the study. The
instruments employed were a Nelson English language test, Michigan
Grammar Test, and Teele Inventory for Multiple Intelligences
(TIMI). The results of Pearson Product-Moment Correlation revealed
a significant positive correlation between grammatical accuracy and
linguistic as well as interpersonal intelligence. The results of
Stepwise Multiple Regression indicated that linguistic intelligence
contributed to the prediction of grammatical accuracy.
Abstract: Below-knee amputees commonly experience
asymmetrical gait patterns. It is generally believed that ischemia is
related to the formation of pressure sores due to uneven distribution
of forces. Micro-vascular responses can reveal local malnutrition.
Changes in local skin blood supply under various external loading
conditions have been studied for a number of years. Radionuclide
clearance, photo-plethysmography, trans-cutaneous oxygen tension
along with other studies showed that the blood supply would be
influenced by the epidermal forces, and the rate and the amount of
blood supply would decrease with increased epidermal loads being
shear forces or normal forces. Several cases of socket designs were
investigated using Finite Element Model (FEM) and Design of
Experiment (DOE) to increase flexibility and minimize the pressure
at the limb/socket interface using ultra high molecular weight
polyethylene (UHMWPE) and polyamide 6 (PA6) or Duraform. The
pressure reliefs at designated areas where reducing thickness is
involved are seen to be critical in determination of amputees’ comfort
and are very important to clinical applications. Implementing a hole
between the Patellar Tendon (PT) and Distal Tibia (DT) would
decrease stiffness and increase prosthesis range of motion where
flexibility is needed. In addition, displacement and prosthetic energy
storage increased without compromising mechanical efficiency and
prosthetic design integrity.
Abstract: The present work is aimed at examining carbon steel
oil pipelines corrosion using three natural extracts (Eruca Sativa,
Rosell and Mango peels) that are used as inhibitors of different
concentrations ranging from 0.05-0.1wt. %. Two sulphur compounds
are used as corrosion mediums. Weight loss method was used for
measuring the corrosion rate of the carbon steel specimens immersed
in technical white oil at 100ºC at various time intervals in absence
and presence of the two sulphur compounds. The corroded specimens
are examined using the chemical wear test, scratch test and hardness
test. The scratch test is carried out using scratch loads from 0.5 Kg to
2.0 Kg. The scratch width is obtained at various scratch load and test
conditions. The Brinell hardness test is carried out and investigated
for both corroded and inhibited specimens. The results showed that
three natural extracts can be used as environmentally friendly
corrosion inhibitors.
Abstract: The aim of study was to analyze the functioning the
new model of criminal corporate responsibility in Poland. The need
to introduce into the Polish legal system liability of corporate
(collective entities) has resulted, among others, from the Polish
Republic's international commitments, in particular related to
membership in the European Union. The study showed that responsibility of collective entities under
the Act has a criminal nature. The main question concerns the ability
of the collective entity to be brought to guilt under criminal law
sense. Polish criminal law knows only the responsibility of individual
persons. So far, guilt as a personal feature of action, based on the
ability of the offender to feel in his psyche, could be considered only
in relation to the individual person, while the said Act destroyed this
conviction. Guilt of collective entity must be proven under at least
one of the three possible forms: the guilt in the selection or
supervision and so called organizational guilt. In addition, research in
article has resolved the issue how the principle of proportionality in
relation to criminal measures in response of collective entities should
be considered. It should be remembered that the legal subjectivity of
collective entities, including their rights and freedoms, is an
emanation of the rights and freedoms of individual persons which
create collective entities and through these entities implement their
rights and freedoms. The whole study was proved that the adopted Act largely reflects
the international legal regulations but also contains the unknown and
original legislative solutions.
Abstract: In this paper, monitoring and control of tap changer
mechanism of a transformer implementation in an Intelligent
Electronic Device (IED) is discussed. It has been a custom for
decades to provide a separate panel for on load tap changer control
for monitoring the tap position. However, this facility cannot either
record or transfer the information to remote control centers. As there
is a technology shift towards the smart grid protection and control
standards, the need for implementing remote control and monitoring
has necessitated the implementation of this feature in numerical
relays. This paper deals with the programming, settings and logic
implementation which is applicable to both IEC 61850 compatible
and non-compatible IEDs thereby eliminating the need for separate
tap changer control equipment. The monitoring mechanism has been
implemented in a 28MVA, 110 /6.9kV transformer with 16 tap
position with GE make T60 IED at Ultratech cement limited
Gulbarga, Karnataka and is in successful service.
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.