Papers by Nayef Al-Shammari
International Journal of Financial Research, 2020
This paper examines the impact of fluctuations in the price of oil on Kuwaiti stock market return... more This paper examines the impact of fluctuations in the price of oil on Kuwaiti stock market returns for the month-to-month period of 2000 to 2020. The Augmented Dickey-Fuller (ADF) test for stationarity, the error correction model (ECM), and various cointegration test techniques were used to examine the estimated model. In an oil-based economy like Kuwait, the exposure to oil prices seems to affect the performance of the country’s stock market. Our main findings related to the long run showed that the price of oil is cointegrated with stock market returns. Interestingly, our ECM examination confirmed that changes in Kuwaiti stock market returns are only affected by oil price fluctuations in the short run. Further strategies are needed to better stabilize Kuwait’s capital market. This equilibrium can be achieved by pursuing more stability in other macroeconomic factors and providing a solid legal independence for the country’s financial market.
Engineering Journal, 2013
Technologies get dated in their life cycles and eventually their cost effectiveness is not as whe... more Technologies get dated in their life cycles and eventually their cost effectiveness is not as when they were new. One of these significant developments in air separation units is the reduction of regeneration temperature requirement and pressure drop across Molecular Sieve, which were expected to reduce the total power consumption. The impact of these expected developments were evaluated on oxygen specific power. The two developments methods were tested in this paper. The first method was the adoption of new molecular sieve that will consume less power than the current molecular sieve by 50%. The second development method was the modification of vessel layout, where two bed of molecular sieve can be used, which will reduce the pressure drop across molecular sieve system. The effect of these two methods was evaluated on oxygen specific power. The results showed that a negligible impact on oxygen specific power in case of the modification of vessel layout, where a significant impact in oxygen specific power was noticed by adoption of a new molecular sieve that consumes lower power than the current. This encourages the investment on molecular sieve development not on modifying the layout of vessel for the purpose of pressure drop reduction.
Engineering Journal, 2014
The cryogenic air separation process is the most common technique for the production of pure oxyg... more The cryogenic air separation process is the most common technique for the production of pure oxygen, nitrogen and argon on an industrial scale. However, high energy consumption is a major problem for a profitable operation. The aim of this work is to perform a simulation and optimization from an existing air separation facility, located in Tocancipá-Colombia, with a high thermal integration in its design, that intends to minimize energy intensity per standard volume of the current processed air stream. The comparison of the specific energy consumption between simulation and real industrial conditions showed absolute relative error lower than 10.4% and regard to engineering manual (EDM) of 9.4%, thus validating the developed model. In order to identify the main variables affecting energy intensity, an exergy analysis of the main equipment (multi-stage exchanger, compressor and distillation columns). The optimization employs the NSGA-II method, carrying out a combination between the simulated model in Aspen Hysys and an optimization in MATLAB. The optimization involved solving a multi-objective problem of maximizing exergy efficiency and argon production ratio, considering a variable demand. Finally, suggestions are generated based on safety, operational and financial criteria to improve the performance of the plant.
Asia Pacific Business Review, 2010
This paper investigates the relation between foreign direct investment and economic growth under ... more This paper investigates the relation between foreign direct investment and economic growth under the effects of the financial liberalization processes. The paper focuses on the emerging markets, where the flows of foreign direct investment are most active and the financial liberalization processes are most intensifying. Analysis of 24 emerging markets over the 1980-2004 period shows that the easing of short-term capital flows diminishes the positive effects of foreign direct investment. The finding has important implications for policy makers in emerging markets.
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Papers by Nayef Al-Shammari