Nexus Between Inventory Volatility and Capital Investment: Evidence from Selected Asian Economies

Bilal Haider SUBHANI,Khurram ASHFAQ,Muhammad Asif KHAN,Natanya MEYER,Umar FAROOQ 한국유통과학회 2022 The Journal of Asian Finance, Economics and Busine Vol.9 No.1

The uncertainty regarding inventory may impart dynamic impacts on corporate-level financial decisions. Among others, a decision about capital investment is a crucial decision that requires overall financial stability. Following these theoretical notions, the current study aims to identify possible consequences of inventory volatility relating to corporate capital investment decisions. We employed ten years of data (2010–2019) of non-financial sector firms to achieve the objective. The Driscoll-Kraay model was used to quantify the regression. The statistical results imply that inventory volatility negatively influences capital investment decisions due to information asymmetry about the current financial position. Additionally, more volatility brings discrepancies in managers’ investing decisions to fulfill the possible demand options of capital investment that require processing the inventory. However, based upon the statistical findings, it is suggested to corporate managers that they should consider the financial sensitivity of enterprises regarding inventory volatility. Thus, the current study introduces new thoughts regarding inventory volatility and its empirical role in determining capital investment.

A review on BRB and SC-BRB members in building structures

Syed Muhammad Bilal Haider,Dongkeun Lee 국제구조공학회 2021 Structural Engineering and Mechanics, An Int'l Jou Vol.80 No.5

Buckling restrained bracing (BRB) was firstly introduced in Japan construction industry in year 1989. With time, BRB performance has been advanced to self-centering BRB (SC-BRB) which has exceptional energy dissipation, addressing the improvement in the structure performance in post-seismic affect. Although the BRB performance specifications are defined in design codes of several countries, specific design provisions are not generally provided since BRBs are usually considered a manufactured device. Furthermore, most of review papers focused on BRB rather than SC-BRB. Thus, this paper explores the background of both BRB and SC-BRB. The importance of self-centering components in BRB and literature related to it have been studied. This review study also highlights the significance of corrosion-resistance materials in the configuring BRB and SC-BRB since most of such members are made of carbon steel that is susceptible to corrosion.

Non-linear dynamic assessment of low-rise RC building model under sequential ground motions

Syed Muhammad Bilal Haider,Zafarullah Nizamani,Chun Chieh Yip 국제구조공학회 2020 Structural Engineering and Mechanics, An Int'l Jou Vol.74 No.6

Multiple earthquakes that occur during short seismic intervals affect the inelastic behavior of the structures. Sequential ground motions against the single earthquake event cause the building structure to face loss in stiffness and its strength. Although, numerous research studies had been conducted in this research area but still significant limitations exist such as: 1) use of traditional design procedure which usually considers single seismic excitation; 2) selecting a seismic excitation data based on earthquake events occurred at another place and time. Therefore, it is important to study the effects of successive ground motions on the framed structures. The objective of this study is to overcome the aforementioned limitations through testing a two storey RC building structural model scaled down to 1/10 ratio through a similitude relation. The scaled model is examined using a shaking table. Thereafter, the experimental model results are validated with simulated results using ETABS software. The test framed specimen is subjected to sequential five artificial and four real-time earthquake motions. Dynamic response history analysis has been conducted to investigate the i) observed response and crack pattern; ii) maximum displacement; iii) residual displacement; iv) Interstorey drift ratio and damage limitation. The results of the study conclude that the low-rise building model has ability to resist successive artificial ground motion from its strength. Sequential artificial ground motions cause the framed structure to displace each storey twice in correlation with vary first artificial seismic vibration. The displacement parameters showed that real-time successive ground motions have a limited impact on the low-rise reinforced concrete model. The finding shows that traditional seismic design EC8 requires to reconsider the traditional design procedure.

Efficiency Improvement of Organic Solar Cells Using Two-step Annealing Technique

Bilal Masood,Arsalan Haider,Tehsin Nawaz 한국전기전자재료학회 2016 Transactions on Electrical and Electronic Material Vol.17 No.3

The fullerene solar cells are becoming a feasible choice due to the advanced developments in donor materials andimproved fabrication techniques of devices. Recently, sufficient optimization and improvements in the processingtechniques like incorporation of solvent vapor annealing (SVA) with additives in solvents has become a majorcause of prominent improvements in the performance of organic solar cell-based devices . On the other hand, thechallenge of reduced open circuit voltage (Voc) remains. This study presents an approach for significant performanceimprovement of overall device based on organic small molecular solar cells (SMSCs) by following a two steptechnique that comprises thermal annealing (TA) and SVA (abbreviated as SVA+TA). In case of exclusive use of SVA,reduction in Voc can be eliminated in an effective way. The characteristics of charge carriers can be determined bythe measurement of transient photo-voltage (TPV) and transient photo-current (TPC) that determines the scopefor improvement in the performance of device by two step annealing. The recovery of reduced Voc is linked with thenecessary change in the dynamics of charge that lead to increased overall performance of device. Moreover, SVAand TA complement each other; therefore, two step annealing technique is an appropriate way to simultaneouslyimprove the parameters such as Voc, fill factor (FF), short circuit current density (Jsc) and PCE of small molecular solarcells.

Simulation study of biomethane liquefaction followed by biogas upgrading using an imidazolium-based cationic ionic liquid

Haider, Junaid,Qyyum, Muhammad Abdul,Kazmi, Bilal,Zahoor, Muhammad,Lee, Moonyong ELSEVIER 2019 Journal of Cleaner Production Vol. No.

<P><B>Abstract</B></P> <P>To satisfy the ever-increasing global energy demand, biomethane is considered a promising sustainable and renewable energy source. Biomethane can be transported either in the gaseous phase (through pipelines, over a small distance) or in the liquid phase (through shipping, over a long distance). For transportation over long distances, liquefaction is one of the most economic and feasible approaches so far. However, biomethane is obtained as a result of biogas upgrading, i.e., CO<SUB>2</SUB> removal from biogas. Conventionally, CO<SUB>2</SUB> is removed through amine-based absorption, which consumes large amounts of energy to regenerate the amine-based solvent. Liquefaction of methane (obtained either from fossil-based or renewable resources) has also been recognized as an energy-intensive process. Hence, the major issue associated with biogas upgrading and subsequent biomethane liquefaction is their high energy consumption, which ultimately affords a cost-intensive process. In this context, we propose a simulation based an economical and energy efficient process for biomethane liquefaction following biogas upgrading using an ionic liquid (1-butyl–3–methylimidazolium hexafluoro phosphate [Bmim][PF<SUB>6</SUB>]). As such, biogas can be upgraded at an energy expense of 1.1048 kWh/kmol, while 11.26 kWh/kmol of energy is used for biomethane liquefaction. The specific total annualized cost for the proposed integrated process was calculated as $519.3/kg-biogas.</P> <P><B>Highlights</B></P> <P> <UL> <LI> An integrated process is developed to upgrade and liquefy the biogas. </LI> <LI> Biogas upgrading leads to biomethane with 99 wt% purity adopting [Bmim][PF<SUB>6</SUB>]. </LI> <LI> The upgraded biomethane is liquefied through nitrogen-methane expander process. </LI> <LI> Total annualized cost of biogas upgrading to liquefaction is $311.6 × 10<SUP>5</SUP>. </LI> <LI> Specific total annualized cost for integrated process is $519.3/kg-biogas. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

Modeling and Characterization of Low Voltage Access Network for Narrowband Powerline Communications

Bilal Masood,Arsalan Haider,Sobia Baig 대한전기학회 2017 Journal of Electrical Engineering & Technology Vol.12 No.1

Nowadays, Power Line Communication (PLC) is gaining high attention from industry and electric supply companies for the services like demand response, demand side management and Advanced Metering Infrastructure (AMI). The reliable services to consumers using PLC can be provided by utilizing an efficient PLC channel for which sophisticated channel modeling is very important. This paper presents characterization of a Low Voltage (LV) access network for Narrowband Power Line Communications (NB-PLC) using transmission line (TL) theory and a Simulink model. The TL theory analysis not only includes the constant parameters but frequency selectivity is also introduced in these parameters such as resistance, conductance and impedances. However, the proposed Simulink channel model offers an analysis and characterization of capacitive coupler, network impedance and channel transfer function for NB-PLC. Analysis of analytical and simulated results shows a close agreement of the channel transfer function. In the absence of a standardized NBPLC channel model, this research work can prove significant in improving the efficiency and accuracy of NB-PLC communication transceivers for Smart Grid communications.

Modeling and Characterization of Low Voltage Access Network for Narrowband Powerline Communications

Masood, Bilal,Haider, Arsalan,Baig, Sobia The Korean Institute of Electrical Engineers 2017 Journal of Electrical Engineering & Technology Vol.12 No.1

Nowadays, Power Line Communication (PLC) is gaining high attention from industry and electric supply companies for the services like demand response, demand side management and Advanced Metering Infrastructure (AMI). The reliable services to consumers using PLC can be provided by utilizing an efficient PLC channel for which sophisticated channel modeling is very important. This paper presents characterization of a Low Voltage (LV) access network for Narrowband Power Line Communications (NB-PLC) using transmission line (TL) theory and a Simulink model. The TL theory analysis not only includes the constant parameters but frequency selectivity is also introduced in these parameters such as resistance, conductance and impedances. However, the proposed Simulink channel model offers an analysis and characterization of capacitive coupler, network impedance and channel transfer function for NB-PLC. Analysis of analytical and simulated results shows a close agreement of the channel transfer function. In the absence of a standardized NBPLC channel model, this research work can prove significant in improving the efficiency and accuracy of NB-PLC communication transceivers for Smart Grid communications.

Heating load depreciation in the solvent-regeneration step of absorption-based acid gas removal using an ionic liquid with an imidazolium-based cation

Kazmi, Bilal,Haider, Junaid,Qyyum, Muhammad Abdul,Saeed, Saad,Kazmi, Mohib Raza,Lee, Moonyong Elsevier 2019 International journal of greenhouse gas control Vol.87 No.-

<P><B>Abstract</B></P> <P>Natural gas is a cleaner energy source compared to other fossil-based energy sources owing to its low emissions. However, natural gas contains acidic gases (including CO<SUB>2</SUB> and H<SUB>2</SUB>S), which may cause equipment corrosion and environmental damage. To date, amine-based absorption techniques have been used to remove acidic gases from natural gas to reach regulated concentration limits. However, a tremendous amount of heating is required to regenerate amine-based solvents, which remains a major issue with traditional absorption-based acid gas removal units. In this context, 1-butyl-3-methyimidazolium methyl sulfate (bmim)(CH<SUB>3</SUB>SO<SUB>4</SUB>) and 1-butyl-3-methylimidazolium hexafluorophosphate (bmim)(PF<SUB>6</SUB>) were adopted as potential solvents for reducing the heating requirements in the solvent-regeneration step of absorption-based removal techniques. This study shows that by using the imidazolium-based cationic IL, up to 99 wt% of acid gases can be removed while dramatically reducing the heating load and the total annualized cost compared to conventional amine-based absorption units. Flash-based solvent regeneration was used to recover the solvent with a heating loading value of 3978 kW, which is 78.6% lower than that of conventional amine regeneration strippers. Use of only flash column instead of stripper also makes the proposed ionic liquid-based absorption technique most economical with respect to capital investment.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Simultaneously removal of H<SUB>2</SUB>S and CO<SUB>2</SUB>. </LI> <LI> Amines-based solvents are replaced with Imidazolium-based Ionic liquids. </LI> <LI> Thermal energy minimization in solvent regeneration step for acid gas removal. </LI> <LI> Thermal energy is reduced up to 78.6%. </LI> <LI> Total annualized cost is saved up to 59.8%. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

Efficiency Improvement of Organic Solar Cells Using Two-step Annealing Technique

Masood, Bilal,Haider, Arsalan,Nawaz, Tehsin The Korean Institute of Electrical and Electronic 2016 Transactions on Electrical and Electronic Material Vol.17 No.3

The fullerene solar cells are becoming a feasible choice due to the advanced developments in donor materials and improved fabrication techniques of devices. Recently, sufficient optimization and improvements in the processing techniques like incorporation of solvent vapor annealing (SVA) with additives in solvents has become a major cause of prominent improvements in the performance of organic solar cell-based devices . On the other hand, the challenge of reduced open circuit voltage (V_oc) remains. This study presents an approach for significant performance improvement of overall device based on organic small molecular solar cells (SMSCs) by following a two step technique that comprises thermal annealing (TA) and SVA (abbreviated as SVA+TA). In case of exclusive use of SVA, reduction in V_oc can be eliminated in an effective way. The characteristics of charge carriers can be determined by the measurement of transient photo-voltage (TPV) and transient photo-current (TPC) that determines the scope for improvement in the performance of device by two step annealing. The recovery of reduced V_oc is linked with the necessary change in the dynamics of charge that lead to increased overall performance of device. Moreover, SVA and TA complement each other; therefore, two step annealing technique is an appropriate way to simultaneously improve the parameters such as V_oc, fill factor (FF), short circuit current density (J_sc) and PCE of small molecular solar cells.

Resistive Switching Behavior of Tri-layer Insulating Medium with Hafnium Oxide (HfO₂) Thin Film Sandwiched between Two Titanium Oxide (TiO₂) Thin Films

Asif Ali,Haider Abbas,Syed Bilal Abbas Naqvi,JungJongwan 한국진공학회 2018 한국진공학회 학술발표회초록집 Vol.2018 No.2