Abstract: In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.
Abstract: The aim of this study is to assess the influence of plastic fines content on sand-clay mixtures on maximum shear modulus and liquefaction resistance using a series of resonant column tests. A high plasticity clay called bentonite was added to 161 Firoozkooh sand at the percentages of 10, 15, 20, 25, 30 and 35 by dry weight. The resonant column tests were performed on the remolded specimens at constant confining pressure of 100 KPa and then the values of Gmax and liquefaction resistance were investigated. The maximum shear modulus and cyclic resistance ratio (CRR) are examined in terms of fines content. Based on the results, the maximum shear modulus and liquefaction resistance tend to decrease within the increment of fine contents.
Abstract: Leaching of heavy metals (chromium, zinc, copper) from the fine fraction of the Torma landfill (Estonia) was investigated. The leaching kinetics studies have determined the dependence of some metal’s concentration on the leaching time. Metals were leached with Aqua Regia, distilled water and EDTA (Ethylenediaminetetraacetic acid); process was most intensive 2 hours after the start of the experiment, except for copper with EDTA (0.5 h) and lead with EDTA (4 h). During leaching, steady concentrations of Fe, Mn, Cd and Pb were fully stabilized after 8 h; however concentrations of Cu and Ni were not stabilized after 10 h.
Abstract: In this numerical study, natural convection of Cu–water nanofluid in a cavity submitted to different heating modes on its vertical walls is analyzed. Maxwell-Garnetts (MG) and Brinkman models have been utilized for calculating the effective thermal conductivity and dynamic viscosity of nanofluid, respectively. Influences of Rayleigh number (Ra = 103−106), nanoparticle volume concentration (f = 0-0.04) and Hartmann number (Ha = 0-90) on the flow and heat transfer characteristics have been examined. The results indicate that the Hartmann number influences the heat transfer at Ra = 106 more than other Raleigh numbers, as the least effect is observed at Ra = 103. Moreover, the results show that the solid volume fraction has a significant influence on heat transfer, depending on the value of Hartmann, heat generation or absorption coefficient and Rayleigh numbers.
Abstract: Contamination of water, due to the discharge of untreated industrial wastewaters into the ecosystem, has become a serious problem for many countries. In this study, bioadsorbents based on chitosan-g-poly(acrylamide) and montmorillonite (MMt) clay (CTS-g-PAAm/MMt) hydrogel nanocomposites were prepared via free‐radical grafting copolymerization and crosslinking of acrylamide monomer (AAm) onto natural polysaccharide chitosan (CTS) as backbone, in presence of various contents of MMt clay as nanofiller. Then, they were hydrolyzed to obtain highly functionalized pH‐sensitive nanomaterials with uppermost swelling properties. Their structure characterization was conducted by X-Ray Diffraction (XRD) and Scanning Electron Microscopy (SEM) analyses. The adsorption performances of the developed nanohybrids were examined for removal of methylene blue (MB) cationic dye from aqueous solutions. The factors affecting the removal of MB, such as clay content, pH medium, adsorbent dose, initial dye concentration and temperature were explored. The adsorption process was found to be highly pH dependent. From adsorption kinetic results, the prepared adsorbents showed remarkable adsorption capacity and fast adsorption rate, mainly more than 88% of MB removal efficiency was reached after 50 min in 200 mg L-1 of dye solution. In addition, the incorporating of various content of clay has enhanced adsorption capacity of CTS-g-PAAm matrix from 1685 to a highest value of 1749 mg g-1 for the optimized nanocomposite containing 2 wt.% of MMt. The experimental kinetic data were well described by the pseudo-second-order model, while the equilibrium data were represented perfectly by Langmuir isotherm model. The maximum Langmuir equilibrium adsorption capacity (qm) was found to increase from 2173 mg g−1 until 2221 mg g−1 by adding 2 wt.% of clay nanofiller. Thermodynamic parameters revealed the spontaneous and endothermic nature of the process. In addition, the reusability study revealed that these bioadsorbents could be well regenerated with desorption efficiency overhead 87% and without any obvious decrease of removal efficiency as compared to starting ones even after four consecutive adsorption/desorption cycles, which exceeded 64%. These results suggest that the optimized nanocomposites are promising as low cost bioadsorbents.
Abstract: This study presents a small-scale water pumping system utilizing a fuzzy logic inference system attached to a renewable energy source. The fuzzy logic controller was designed and simulated in MATLAB fuzzy logic toolbox to examine the properties and characteristics of the input and output variables. The result of the simulation was implemented in a microcontroller, together with sensors, modules, and photovoltaic cells. The study used a grand rapid variety of lettuce, organic substrates, and foliar for observation of the capability of the device to irrigate crops. Two plant boxes intended for manual and automated irrigation were prepared with each box having 48 heads of lettuce. The observation of the system took 22-31 days, which is one harvest period of the crop. Results showed a 22.55% increase in agricultural productivity compared to manual irrigation. Aside from reducing human effort, and time, the smart irrigation system could help lessen some of the shortcomings of manual irrigations. It could facilitate the economical utilization of water, reducing consumption by 25%. The use of renewable energy could also help farmers reduce the cost of production by minimizing the use of diesel and gasoline.
Abstract: The potato value chain when harnessed can engage numerous youths and aid in the fight against poverty, malnutrition and unemployment. This study seeks to evaluate the level of youth participation in the potato value chain in Nigeria. Specifically, this study will examine the extent of youth participation in potato value chain, analyze the cost, benefits and sustainability of youth participation in the potato value chain, identify the factors that can propel or hinder youth participation in the potato value chain and make recommendations that will result in the increase in youth employment in the potato value chain. This study was conducted in the North Central and South East geopolitical zones of Nigeria. A multi stage sampling procedure was used to select 540 youths from the study areas. Focused group discussions and survey approach was used to elicit the required data. The data were analyzed using statistical and econometric tools. The study revealed that the potato value chain is very profitable.
Abstract: Inelastic deformation of the brace in Special Concentrically Braced Frame (SCBF) creates inelastic damages on gusset plate connections such as buckling at edges. In this study, to improve the seismic performance of SCBFs connections, an analytical study was undertaken. To improve the gusset plate connection, this study proposes using edge’s stiffeners in both sides of gusset plate. For this purpose, in order to examine edge’s stiffeners effect on gusset plate connections, two groups of modeling with and without considering edge’s stiffener and different types of braces were modeled using ABAQUS software. The results show that considering the edge’s stiffener reduces the equivalent plastic strain values at a connection region of gusset plate with beam and column, which can improve the seismic performance of gusset plate. Furthermore, considering the edge’s stiffeners significantly decreases the strain concentration at regions where gusset plates have been connected to beam and column. Moreover, considering 2tpl distance causes reduction in the plastic strain.
Abstract: The aim of this study is to assesses the lifting capabilities of persons experiencing hypoxia. It also examines the behavior of the physiological response induced through the lifting process related to changing in the hypoxia and lifting frequency variables. For this purpose, the study performed two consecutive tests by using; (1) training and acclimatization; and (2) an actual collection of data. A total of 10 male students from King Saud University, Kingdom of Saudi Arabia, were recruited in the study. A two-way repeated measures design, with two independent variables (ambient oxygen (15%, 18% and 21%)) and lifting frequency (1 lift/min and 4 lifts/min) and four dependent variables i.e., maximum acceptable weight of lift (MAWL), Electromyography (EMG) of four muscle groups (anterior deltoid, trapezius, biceps brachii, and erector spinae), rating of perceived exertion (RPE), and rating of oxygen feeling (ROF) were used in this study. The results show that lifting frequency has significantly impacted the MAWL and muscles’ activities. The oxygen content had a significant effect on the RPE and ROE. The study has revealed that acclimatization and training sessions significantly reduce the effect of the hypoxia on the human physiological parameters during the manual materials handling tasks.
Abstract: The process of modification of ed-20 epoxy resin synthesized by vinyl-containing compounds is considered. It is shown that the introduction of vinyl-containing compounds into the composition based on epoxy resin ED-20 allows adjusting the technological and operational characteristics of the binder. For improvement of the properties of epoxy resin, following modifiers were selected: polyvinylformalethyl, polyvinyl butyral and composition of linear and aromatic amines (Аramine) as a hardener. Now the big range of hardeners of epoxy resins exists that allows varying technological properties of compositions, and also thermophysical and strength indicators. The nature of the aramin type hardener has a significant impact on the spatial parameters of the mesh, glass transition temperature, and strength characteristics. Epoxy composite materials based on ED-20 modified with polyvinyl butyral were obtained and investigated. It is shown that the composition of resins based on derivatives of polyvinyl butyral and ED-20 allows obtaining composite materials with a higher complex of deformation-strength, adhesion and thermal properties, better water resistance, frost resistance, chemical resistance, and impact strength. The magnitude of the effect depends on the chemical structure, temperature and curing time. In the area of concentrations, where the effect of composite synergy is appearing, the values of strength and stiffness significantly exceed the similar parameters of the individual components of the mixture. The polymer-polymer compositions form their class of materials with diverse specific properties that ensure their competitive application. Coatings with high performance under cyclic loading have been obtained based on epoxy oligomers modified with vinyl-containing compounds.
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 increase prices. Therefore, the only way to increase profit will be 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) etc., are trying to reduce maintenance costs. In this paper, decreasing the maintenance costs of Concentration Plant of Golgohar 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.
Abstract: This study aims to examine the association between disclosure of social responsibility and tax aggressiveness in developing countries, namely Thailand. This is due to the increasing trend of disclosure of social responsibility in developing countries, even though this disclosure of information is still voluntary. On the other hand, developing countries have low taxation rate and investor protection infrastructures that allow the disclosure of social responsibility to be used opportunistically as a tool to fool the attainment of interests. This study also examines the role of assurance on the association between corporate social responsibility disclosure and tax aggressiveness. The assurance aims to provide confidence that the disclosure of social responsibility by the company is valid. This research builds an index to measure the disclosure of social responsibility based on the rules issued by the innovative Global Reporting. The results of the study are based on a sample of publicly traded companies in Thailand, which showed a positive association between disclosure of corporate social responsibility and tax aggressiveness, but it was further discovered that these results were mitigated by the existence of assurance against disclosure of corporate social responsibility. The results of this study indicate that the disclosure of corporate social responsibility can show that the company cares about the issue of social responsibility but does not automatically make the company as one that holds ethical values in its business practices.
Abstract: Today, many local and national governments are developing urban agriculture as an effective tool in responding to challenges such as food security, poverty and environmental problems. In fact, urban agriculture plays an important role in food system, which can provide citizens' income and become one of the components of economic, social and environmental systems. The purpose of this paper is to analyze the urban agriculture and urban food systems in order to understand the impact of urban foods production on environmental planning in non-western city region context. To achieve such objective, we carry out a case study in Mashhad city of Iran by using qualitative approaches. A survey on documentary studies and planning tools integrate with face to face interview with experts which explain the role of food system in environmental planning process. The paper extends the use of food in the environmental planning, specifically to examine this role to create agricultural garden as a mean to improve agricultural system in non-western country. The paper is concluded with a set of recommendations for researchers and policymakers who seek to create spaces in order to implement urban agriculture in cities for food justice.
Abstract: This study involves a legal analysis of the case Earthlife Africa Johannesburg v Minister of Environmental Affairs and Others. The case considered the impact of the Thabametsi Power Project if it operated to the expected year 2060 on the global climate and ever-changing climate, in South Africa. This judgment highlights the significance, place and principles of climate change and where climate change impacts the South African environmental law which has its founding principles in the Constitution of the Republic of South Africa, 1996. This paper seeks to examine the advances for climate change regulation and application in terms of international law, in South Africa, through a qualitative study involving comparative national and international case law. A literature review study was conducted to compare and contrast the various aspects of law in order to support the argument undertaken. The paper presents a detailed discussion of the current legislation and the position as it currently stands with reference to international law and interpretation. The relevant protections as outlined in the National Environmental Management Act will be discussed. It then proceeds to outline the potential liability of the Minister in the interpretation and application of international law.
Abstract: This study examines the levels of dopamine and serotonin in blood samples of children who stutter compared with normal fluent speakers. Blood specimens from 50 children who stutter (6 females, 44 males) and 50 normal children matched age and gender were collected for the purpose of the current study. The concentrations of dopamine and serotonin were measured using the 1100 series high-performance liquid chromatography coupled with ultraviolet detector instrument (HPLC-UV). It was revealed that dopamine level in the blood samples of stuttering group and fluent group was not significant (P = 0.769), whereas the level of serotonin was significantly higher in the blood samples of stuttering group than the blood samples of fluent normal group (P = 0.015). It is concluded that serotonin blockers could be used in future studies to evaluate its role as a medication for the treatment of stuttering.
Abstract: The increasing concern of public sector reforms brings new challenges to public service ethics in developing countries not only at central level but also at local level. This paper aims to identify perceptions on public service ethics of public officials and examines more generally the understanding of public servants in Pakistan towards public service ethics in local public organizations. The study uses an independently administered structured questionnaire to collect data to know the extent of the recognition of public service ethics in local organizations. A total of 150 completed questionnaires are analyzed received from public servants working at the local level in Pakistan. The analysis explores how traditional, social patterns and cultural ethics can provide us with a rounded picture of the main antecedents, moderators of public service ethics in Pakistan. Moreover, the findings of this study contribute in association of public service ethics which are crucial in ongoing political and administrative culture of Pakistan, the most crucial core for public organizational ethical climate. This study also has numerous implications for local public administration and it highlights the importance of expanding research agenda on public service ethics in developing settings with challenging institutional contexts with imperfect training and operating environments. This study may well be particularly important for practice of public service ethics in developing countries in public administration. To the best of author’s knowledge, this study is the first of its kind to provide an initial step in practical implications to emphasize relevant public service ethics in public administration in developing transparent and accountable organization.
Abstract: This paper presents an overview of the foundation and evolution of environmental related problems in local governments with specific reference on air pollution in South Africa. Local government has a direct mandate in terms of the Constitution of the Republic of South Africa, 1996 (hereafter, the Constitution). This mandate to protect, fulfil, respect and promote the Bill of Rights by local governments in respect of the powers and functions creates confusion around the role of where a local government fits in, in addressing the problem of climate change in South Africa. A reflection of the evolving legislations, developments, and processes regarding climate change that shaped local government dispensation in South Africa is addressed by the notion of developmental local governments. This paper seeks to examine the advances for mitigation and adaptation regulation of air pollution and application in South Africa. This study involves a qualitative approach that will involve South African national legislation as well as an interpretation of international strategies. A literature review study was conducted to undertake the various aspects of law in order to support the argument undertaken of mitigation and adaptation strategies. The paper presents a detailed discussion of the current legislation and the position as it currently stands, as well as the relevant protections as outlined in the National Environmental Management Act and the National Environmental Management: Air Quality Act. It then proceeds to outline the responsibilities of local governments in South Africa to mitigate and adapt to air pollution strategies.
Abstract: This study was designed to examine mass participation and elite football performance in Nigeria with reference to advance international football management practices. Over 200 sources of literature on sport delivery systems were analyzed to construct a globally applicable model of elite football integrated with mass participation, comprising of the following three levels: macro- (socio-economic, cultural, legislative, and organizational), meso- (infrastructures, personnel, and services enabling sport programs) and micro-level (operations, processes, and methodologies for development of individual athletes). The model has received scholarly validation and showed to be a framework for program analysis that is not culturally bound. The Smolianov and Zakus model has been employed for further understanding of sport systems such as US soccer, US Rugby, swimming, tennis, and volleyball as well as Russian and Dutch swimming. A questionnaire was developed using the above-mentioned model. Survey questions were validated by 12 experts including academicians, executives from sport governing bodies, football coaches, and administrators. To identify best practices and determine areas for improvement of football in Nigeria, 120 coaches completed the questionnaire. Useful exemplars and possible improvements were further identified through semi-structured discussions with 10 Nigerian football administrators and experts. Finally, content analysis of Nigeria Football Federation’s website and organizational documentation was conducted. This paper focuses on the meso-level of Nigerian football delivery, particularly infrastructures, personnel, and services enabling sport programs. This includes training centers, competition systems, and intellectual services. Results identified remarkable achievements coupled with great potential to further develop football in different types of public and private organizations in Nigeria. These include: assimilating football competitions with other cultural and educational activities, providing favorable conditions for employees of all possible organizations to partake and help in managing football programs and events, providing football coaching integrated with counseling for prevention of antisocial conduct, and improving cooperation between football programs and organizations for peace-making and advancement of international relations, tourism, and socio-economic development. Accurate reporting of the sports programs from the media should be encouraged through staff training for better awareness of various events. The systematic integration of these meso-level practices into the balanced development of mass and high-performance football will contribute to international sport success as well as national health, education, and social harmony.
Abstract: This paper includes experimental results and analytical studies about increasing resistance of single-span reinforced concreted frames against impact factor and their modeling according to optimization methods and optimizing the behavior of these frames under impact loads. During this study, about 30 designs for different frames were modeled and made using specialized software like ANSYS and Sap and their behavior were examined under variable impacts. Then suitable strategies were offered for frames in terms of concrete mixing in order to optimize frame modeling. To reduce the weight of the frames, we had to use fine-grained stones. After designing about eight types of frames for each type of frames, three samples were designed with the aim of controlling the impact strength parameters, and a good shape of the frame was created for the impact resistance, which was a solid frame with muscular legs, and as a bond away from each other as much as possible with a 3 degree gradient in the upper part of the beam.
Abstract: The development of the 7-week Alberta Happiness Basics program was initiated in 2010 in response to the need for community mental health programming. This provincial wide program aims to increase overall happiness and reduce negative thoughts and feelings through a positive psychology intervention. While the 7-week program has proven effective, a shortened 4-week program has additionally been developed to address client needs. In this study, participants were interviewed to determine if the 4- and 7-week programs had similar success of producing lasting behavior change at 3, 6, and 9 months post-program. A health quality of life (HQOL) measure was also used to compare the two programs and examine patient outcomes. Quantitative and qualitative analysis showed significant improvements in HQOL and sustainable behavior change for both programs. Findings indicate that the shorter, patient-centered program was effective in increasing happiness and reducing negative thoughts and feelings.