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Sariannidis N.,Technological Education Institute of West Macedonia | Zafeiriou E.,Democritus University of Thrace
Journal of Food, Agriculture and Environment | Year: 2011

Rice as an agricultural good presents significant price volatility. A number of factors play an important role in the price formation. The present study is based on the future prices, in the formation of which financial factors may account for their volatility. The aim of this study was to explore the financial sources of price and volatility distortion of rice future prices. The financial factors surveyed are RCC Rough Rice Composite CBOT (Rice), S&P 500 Stock Index (SP), CL Crude Oil Light Sweet (Crude), Denatured Fuel Ethanol Pit (Ethanol), TNX 10-Year Treasury Note (Bond) and U.S Dollar/Yen exchange rate (D/Y) The methodology employed a model proposed by Glosten et al. (GJR). The results suggested that the mean returns of energy and stock market and the volatility of currency market influence negatively the rice market. The findings are attributed to the consideration that rice is an inferior good. There is also evidence that the volatility of bond market by creating more investment opportunities reduces the conditional volatility of the rice market. Finally, the structural analysis of volatility confirmed that the impact of old news on conditional volatility is higher than that of current news as indicated by the high value of the coefficient of the GARCH terms comparative to the ARCH terms.

Sariannidis N.,Technological Education Institute of West Macedonia | Galyfianakis G.,Economics and Finance Institute | Galyfianakis G.,Democritus University of Thrace | Drimbetas E.,Democritus University of Thrace
International Journal of Energy Economics and Policy | Year: 2015

Our objective in this paper is to contribute to the discussion and identify, in the short-run, the effects of basic financial indicators (equity, bonds, exchange rates, Baltic exchange dry index) and widely traded commodities (Gold, Wheat) on the crude oil market. A generalized autoregressive conditional heteroskedasticity model is employed to test the above hypothesis for the period of almost 10 years using daily data from June 1st, 2004 to May 30th, 2014. The results coming out of our investigation suggest that wheat and bonds markets have negative impact to the oil market. Also, the results indicate that the volatility of US $/Yen exchange rate and the volatility of Baltic exchange dry index influence significantly negatively the oil market. Lastly, our findings indicate that both, gold market as well as stock market, positively influence the oil market, confirming the relevant literature which was reviewed and summarized. © 2015, Econjournals. All rights reserved.

Charitoudi G.,Institute of Business Administration | Sariannidis N.,Technological Education Institute of West Macedonia | Giannarakis G.,University of Aegean
European Journal of Scientific Research | Year: 2011

The concept of Corporate Social Responsibility (CSR) is mainly driven by large in size companies, while it is becoming clear that the concept is also of great importance to small and medium sized enterprises (SMEs). The purpose of this paper is twofold: Firstly, it investigates the factors that are important for the formation of business clusters. Secondly, it presents the role that the Hellenic Network could play for CSR, as a successful cluster, to the CSR promotion of SMEs. Results show six basic elements for the formation of a cluster: geographical proximity, trust, innovation, diffusing knowledge, competition, the role of the government, universities and research institutes, participatory management and new technologies. In addition, the Hellenic Network for CSR could play a substantial role to SMEs in order to develop and implement CSR practices satisfying more social expectations and needs than the larger in size companies. © 2011 EuroJournals Publishing, Inc.

Evagelopoulos V.,Technological Education Institute of West Macedonia | Albanis T.A.,University of Ioannina | Kodona E.,University of Ioannina | Zoras S.,Democritus University of Thrace
Chemosphere | Year: 2010

PM 10 and PM 2.5 samples were collected at two locations in the heavy industrialized prefecture of Kozani, in North-western Greece; in the open-cast mines of Klitos area and in the urban area of city of Kozani. The samples were collected by the use of low volume samplers, for a period of 1year every 6d.An analytical method has been adapted for determining 16 particle-bound polycyclic aromatic hydrocarbons (PAHs) in PM 10 and PM 2.5. Samples were collected on poly-tetra-fluorinated-ethylene (PTFE) filters using low volume samplers, considered to be ideal for trapping various organic pollutants including PAHs. The extraction has been made in two stages. Firstly, by reflux and then by using ultrasound bath. Chromatographic analysis has been carried out by GC/MS with programmable temperature vaporizers (PTV) injector and large volume injection (LVI) technique.Mean daily concentrations of B[a]Py in PM 10 - bound particles were 0.57ngm -3 in Kozani and 0.58ngm -3 at Klitos, while in PM 2.5 - bound PAHs were 0.35ngm -3 and 0.30ngm -3 respectively. We were able to verify the sources of PAHs by the use of diagnostic ratios, which indicate oil or/and coal burning as the, possible, major PAHs pollutant source(s). © 2010 Elsevier Ltd.

Evagelopoulos V.,Technological Education Institute of West Macedonia | Albanis T.A.,University of Ioannina | Asvesta A.,Technological Education Institute of West Macedonia | Zoras S.,Democritus University of Thrace
Global Nest Journal | Year: 2010

About 140 samplings of fine and coarse particles were gathered during the year 2006 in Kozani that represent an urban area surrounded by opencast coal mining. A low volume dichotomus sampler has been used to trap suspended particles. The filters used were teflon, which are ideal for analysis in the determination of PAHs. The determination of Polycyclic Aromatic Hydrocarbons (PAHs) has been carried out by the use of the analytic technique of large volume injection and gas chromatography - mass spectrometry (LVI - GC/MS). The extraction of substances has been made in a two stage procedure, firstly with agitation in a magnetic shaker and secondly by the use of ultrasonic bath. This technique has given high recoveries of PAHs, in short time intervals. The mean daily concentrations of fine particles varied from 4 to 48 μg m-3 and annual mean was 16 μg m-3. The mean daily concentrations of coarse particles respectively varied from 2 to 67 μg m-3 with 23 μg m-3 annual mean concentration. The ∑PAH concentrations for fine samples were 4.80 ± 7.06 ng m-3 and for coarse samples were 1.36 ± 1.59 ng m-3. The mean B[a]Py concentration for fine particles was 0.38 ng m-3. Finally, diagnostic ratios were used to characterize and identify PAHs emission source in this study. Copyright © 2010 Global NEST.

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