Search results for: empirical

Authors: Andreea Halunga, Chris D. Orme, Takashi Yamagata

Abstract:

This paper proposes a heteroskedasticity-robust Breusch-Pagan test of the null hypothesis of zero cross-section (or contemporaneous) correlation in linear panel-data models, without necessarily assuming independence of the cross-sections. The procedure allows for either fixed, strictly exogenous and/or lagged dependent regressor variables, as well as quite general forms of both non-normality and heteroskedasticity in the error distribution. The asymptotic validity of the test procedure is predicated on the number of time series observations, T, being large relative to the number of cross-section units, N, in that: (i) either N is fixed as T→∞; or, (ii) N²/T→0, as both T and N diverge, jointly, to infinity. Given this, it is not expected that asymptotic theory would provide an adequate guide to finite sample performance when T/N is "small". Because of this, we also propose and establish asymptotic validity of, a number of wild bootstrap schemes designed to provide improved inference when T/N is small. Across a variety of experimental designs, a Monte Carlo study suggests that the predictions from asymptotic theory do, in fact, provide a good guide to the finite sample behaviour of the test when T is large relative to N. However, when T and N are of similar orders of magnitude, discrepancies between the nominal and empirical significance levels occur as predicted by the first-order asymptotic analysis. On the other hand, for all the experimental designs, the proposed wild bootstrap approximations do improve agreement between nominal and empirical significance levels, when T/N is small, with a recursive-design wild bootstrap scheme performing best, in general, and providing quite close agreement between the nominal and empirical significance levels of the test even when T and N are of similar size. Moreover, in comparison with the wild bootstrap "version" of the original Breusch-Pagan test our experiments indicate that the corresponding version of the heteroskedasticity-robust Breusch-Pagan test appears reliable. As an illustration, the proposed tests are applied to a dynamic growth model for a panel of 20 OECD countries.

Keywords: cross-section correlation, time-series heteroskedasticity, dynamic panel data, heteroskedasticity robust Breusch-Pagan test

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Authors: M. Ahmadi, M. Kafil, H. Ebrahimi

Abstract:

Nowadays, induction motors have a significant role in industries. Condition monitoring (CM) of this equipment has gained a remarkable importance during recent years due to huge production losses, substantial imposed costs and increases in vulnerability, risk, and uncertainty levels. Motor current signature analysis (MCSA) is one of the most important techniques in CM. This method can be used for rotor broken bars detection. Signal processing methods such as Fast Fourier transformation (FFT), Wavelet transformation and Empirical Mode Decomposition (EMD) are used for analyzing MCSA output data. In this study, these signal processing methods are used for broken bar problem detection of Mobarakeh steel company induction motors. Based on wavelet transformation method, an index for fault detection, CF, is introduced which is the variation of maximum to the mean of wavelet transformation coefficients. We find that, in the broken bar condition, the amount of CF factor is greater than the healthy condition. Based on EMD method, the energy of intrinsic mode functions (IMF) is calculated and finds that when motor bars become broken the energy of IMFs increases.

Keywords: broken bar, condition monitoring, diagnostics, empirical mode decomposition, fourier transform, wavelet transform

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Authors: Jing Zhao, Dayong Liu, Shihao Wang, Xinghua Zhu, Delong Li

Abstract:

Uhumanned Underwater Vehicles generally operate in the deep sea, which has its own unique working conditions. Lithium-ion power batteries should have the necessary stability and endurance for use as an underwater vehicle’s power source. Therefore, it is essential to accurately forecast how long lithium-ion batteries will last in order to maintain the system’s reliability and safety. In order to model and forecast lithium battery Remaining Useful Life (RUL), this research suggests a model based on Complete Ensemble Empirical Mode Decomposition with Adaptive noise-Temporal Convolutional Net (CEEMDAN-TCN). In this study, two datasets, NASA and CALCE, which have a specific gap in capacity data fluctuation, are used to verify the model and examine the experimental results in order to demonstrate the generalizability of the concept. The experiments demonstrate the network structure’s strong universality and ability to achieve good fitting outcomes on the test set for various battery dataset types. The evaluation metrics reveal that the CEEMDAN-TCN prediction performance of TCN is 25% to 35% better than that of a single neural network, proving that feature expansion and modal decomposition can both enhance the model’s generalizability and be extremely useful in industrial settings.

Keywords: lithium-ion battery, remaining useful life, complete EEMD with adaptive noise, temporal convolutional net

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Authors: Ivanna Shubina

Abstract:

Background/Objectives and Goals: Recent interest in positive psychology is reflected in a plenty of studies conducted on its basic constructs (e.g. self-esteem and happiness) in interrelation with personality features, social rules, business and technology development. The purpose of this study is to investigate the mediating role of self-esteem, exploring the relationships between self-esteem and happiness, self-esteem and locus of control (LOC). It hypothesizes that self-esteem may be interpreted as a predictor of happiness and mediator in the locus of control establishment. A plenty of various empirical studies results have been analyzed in order to collect data for this theoretical study, and some of the analysed results can be considered as arguable or incoherent. However, the majority of results indicate a strong relationship between three considered concepts: self-esteem, happiness, the locus of control. Methods: In particular, this study addresses the following broad research questions: i) Is self-esteem just an index of global happiness? ii) May happiness be possible or realizable without a healthy self-confidence and self-acceptance? iii) To what extent does self-esteem influence on the level of happiness? iv) Is high self-esteem a sufficient condition for happiness? v) Is self-esteem is a strong predictor of internal locus of control maintenance? vi) Is high self-esteem related to internal LOC, while low self-esteem to external LOC? In order to find the answers for listed questions, 60 reliable sources have been analyzed, results of what are discussed more detailed below. Expected Results/Conclusion/Contribution:It is recognized that the relationship between self-esteem, happiness, locus of control is complex: internal LOC is contributing to happiness, but it is not directly related to it; self-esteem is a powerful and important psychological factor in mental health and well-being; the feelings of being worthy and empowered are associated with significant achievements and high self-esteem; strong and appropriate self-esteem (when the discrepancy between “ideal” and “real” self is balanced) is correlated with more internal LOC (when the individual tends to believe that personal achievements depend on possessed features, vigor, and persistence). Despite the special attention paid to happiness, the locus of control and self-esteem, independently, theoretical and empirical equivocations within each literature foreclose many obvious predictions about the nature of their empirical distinction. In terms of theoretical framework, no model has achieved consensus as an ultimate theoretical background for any of the mentioned constructs. To be able to clarify the relationship between self-esteem, happiness, and locus of control more interdisciplinary studies have to take place in order to get data on heterogeneous samples, provided from various countries, cultures, and social groups.

Keywords: happiness, locus of control, self-esteem, mediation

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Authors: Abdulkarim Yusuf

Abstract:

Motivation: A crucial but difficult goal for governments and policymakers in Nigeria in recent years has been the sustainability of economic growth. This goal must be accomplished by regulating or lowering greenhouse gas emissions, which calls for switching to a low- or zero-carbon production system. The lack of in-depth empirical studies on the environmental impact of socioeconomic variables on Nigeria and a number of unresolved issues from earlier research is what led to the current study. Objective: This study fills an important empirical gap by investigating the existence of an Environmental Kuznets Curve hypothesis and the long and short-run dynamic impact of socioeconomic variables on ecological sustainability in Nigeria. Data and method: Annual time series data covering the period 1980 to 2020 and the Autoregressive Distributed Lag technique in the presence of structural breaks were adopted for this study. Results: The empirical findings support the existence of the environmental Kuznets curve hypothesis for Nigeria in the long and short run. Energy consumption and total import exacerbate environmental deterioration in the long and short run, whereas total export improves environmental quality in the long and short run. Financial development, which contributed to a conspicuous decrease in the level of environmental destruction in the long run, escalated it in the short run. In contrast, urbanization caused a significant increase in environmental damage in the long run but motivated a decrease in biodiversity loss in the short run. Implications: The government, policymakers, and all energy stakeholders should take additional measures to ensure the implementation and diversification of energy sources to accommodate more renewable energy sources that emit less carbon in order to promote efficiency in Nigeria's production processes and lower carbon emissions. In order to promote the production and trade of environmentally friendly goods, they should also revise and strengthen environmental policies. With affordable, dependable, and sustainable energy use for higher productivity and inclusive growth, Nigeria will be able to achieve its long-term development goals of good health and wellbeing.

Keywords: economic growth, energy consumption, environmental degradation, environmental Kuznets curve, urbanization, Nigeria

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Authors: Ali Karrech, Alberto Puccini, Ben Galvin, Davide Galli

Abstract:

This paper summarises the laboratory tests, numerical models and statistical approach developed to investigate the behaviour of concrete blocks loaded in shear through metallic anchors. This research is proposed to bridge a gap in the state of the art and practice related to anchors loaded against partially confined concrete surfaces. Eight concrete blocks (420 mm x 500 mm x 1000 mm) with 150 and/or 250 deep anchors were tested. The stainless-steel anchors of diameter 16 mm were bonded with HIT-RE 500 V4 injection epoxy resin and were subjected to shear loading against partially supported edges. In addition, finite element models were constructed to validate the laboratory tests and explore the influence of key parameters such as anchor depth, anchor distance from the edge, and compressive strength on the stability of the block. Upon their validation experimentally, the numerical results were used to populate, develop and interpret a systematic parametric study based on the Design of Experiment approach through the Box-Behnken design and Response Surface Methodology. An empirical model has been derived based on this approach, which predicts the load capacity with the desirable intervals of confidence.

Keywords: finite element modelling, design of experiment, response surface methodology, Box-Behnken design, empirical model, interval of confidence, load capacity

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Authors: Assaad Ghazouani, Hedia Teraoui

Abstract:

The purpose of this article is to try to see if the FDI actually contributes to technology transfer in Tunisia or are there other sources that can guarantee this transfer? The answer to this problem was gradual as we followed an approach using economic theory, the reality of Tunisia and econometric and statistical tools. We examined the relationship between technology transfer and FDI in Tunisia over a period of 40 years from 1970 to 2010. We estimated in two stages: first, a growth equation, then we have learned from this regression residue (proxy technology), secondly, we regressed on European FDI, exports of manufactures, imports of goods from the European Union in addition to other variables to test the robustness of the results and describing the level of infrastructure in the country. It follows from our study that technology transfer does not originate primarily and exclusively in the FDI and the latter is econometrically weakly with technology transfer and spill over effect of FDI does not seem to occur according to our results. However, the relationship between technology transfer and imports is negative and significant. Although this result is cons-intuitive, is recurrent in the literature of panel data. It has also given rise to intense debate on the microeconomic modelling as well as on the empirical applications. Technology transfer through trade or foreign investment has become a catalyst for growth recognized by numerous empirical studies in particular. However, the relationship technology transfer FDI is more complex than it appears. This complexity is due, primarily, but not exclusively to the close link between FDI and the characteristics of the host country. This is essentially the host's responsibility to establish general conditions, transparent and conducive to investment, and to strengthen human and institutional capacity necessary for foreign capital flows that can have real effects on growth.

Keywords: technology transfer, foreign direct investment, economics, finance

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Authors: A. B. Robert, Adam Pramadia, Calvin Andika

Abstract:

The main purpose of this study is to explore consumer loyalty characteristic of mobile phone category in Indonesia. Second, this research attempts to identify consumer segment and to explore their profile in each segment as the basis of marketing strategy formulation. This study used some tools of multivariate analysis such as discriminant analysis and cluster analysis. Discriminate analysis used to discriminate consumer loyal and not loyal by using particular variables. Cluster analysis used to reveal various segment in mobile phone category. In addition to having better customer understanding in each segment, this study used descriptive analysis and cross tab analysis in each segment defined by cluster analysis. This study expected several findings. First, consumer can be divided into two large group of loyal versus not loyal by set of variables. Second, this study identifies customer segment in mobile phone category. Third, exploring customer profile in each segment that has been identified. This study answer a call for additional empirical research into different product categories. Therefore, a replication research is advisable. By knowing the customer loyalty characteristic, and deep analysis of their consumption behavior and profile for each segment, this study is very advisable for high impact marketing strategy development. This study contributes body of knowledge by adding empirical study of consumer loyalty, segmentation analysis in mobile phone category by multiple brand analysis.

Keywords: customer loyalty, segmentation, marketing strategy, discriminant analysis, cluster analysis, mobile phone

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Authors: Helena Baffoe

Abstract:

The US has developed numerous programs over the past 50 years to enhance the lives of those who suffer from mental health illnesses and substance abuse, as well as the effectiveness of their treatments. Despite these advances over the past 50 years, there hasn't been a corresponding improvement in American public attitudes and beliefs about mental health disorders and substance abuse. Highly publicized acts of violence frequently elicit comments that blame the perpetrator's perceived mental health disorder since such people are thought to be substance abusers. Despite these strong public beliefs and perception about mental disorder and substance abuse, concreate empirical evidence that entail this perception is lacking, and evidence of their effectiveness has not been integrated. A rich data was collected from Substance Abuse and Mental Health Services Administration (SAMHSA) with a hypothesis that people who are diagnosed with a mental health disorder are likely to be diagnosed with substance abuse using logit regression analysis and Instrumental Variable. It was found that depressive, anxiety, and trauma/stressor mental disorders constitute the most common mental disorder in the United States, and the study could not find statistically significant evidence that being diagnosed with these leading mental health disorders in the United States does necessarily imply that such a patient is diagnosed with substances abuse. Thus, the public has a misconception of mental health and substance abuse issues, and social workers' responsibilities are outlined in order to assist ameliorate this attitude and perception.

Keywords: mental health disorder, substance use, empirical evidence, logistic regression

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Authors: Rizki Nor Amelia, Farida A. Setiawati

Abstract:

This study aimed to: (1) describe the characteristics of teacher-made test instrument used to measure the ability of students’chemistry, and (2) identify the presence of the compability difficulty level set by teachers to difficulty level by empirical results. Based on these objectives, this study was a descriptive research. The analysis in this study used the Rasch model and Chi-square statistics. Analysis using Rasch Model was based on the response patterns of high school students to the teacher-made test instrument on chemistry subject Academic Year 2015/2016 in the Yogyakarta. The sample of this research were 358 students taken by cluster random sampling technique. The analysis showed that: (1) a teacher-made tests instrument has a medium on the mean difficulty level. This instrument is capable to measure the ability on the interval of -0,259 ≤ θ ≤ 0,659 logit. Maximum Test Information Function obtained at 18.187 on the ability +0,2 logit; (2) 100% items categorized either as easy or difficult by rasch model is match with the teachers’ judgment; while 37 items are categorized according to rasch model which 8.10% and 10.81% categorized as easy and difficult items respectively according to the teachers, the others are medium categorized. Overall, the distribution of the level of difficulty formulated by the teachers has the distinction (not match) to the level of difficulty based on the empirical results.

Keywords: chemistry, items parameter fitness, Rasch model, teacher-made test

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Authors: Simon Quick, John Lyle

Abstract:

Psychology-based research has been a characteristic of empirical enquiry in sport coaching for over fifty years and cognitive function is widely accepted as a fundamental component of sport coaching expertise. Within the academic literature, much empirical research on coaches’ cognitions has tended to adopt retrospective approaches, such as post-session interviews or stimulated recall, thus capturing coaches’ cognitions after the incident, training session or competition. Such methods are prone to a variety of issues, including memory decay and the reordering of accounts. The aim of this research was to overcome the limitations that exist with retrospective approaches and, rather, to capture coaching cognitions in situ using Think Aloud Protocol. Data that were captured was broken down into meaning units and analysed using a Thematic Analysis. Situated in the practice of 6 experienced rugby coaches, findings revealed that Think Aloud Protocol generated rich data, although problematic in a site of enquiry confounded by multiple social interactions and requiring coaches to provide frequent instruction and feedback. The resultant interaction between cognition and action is conceptualised by the tentative offering of a model that situates these elements in conjunction with cognitive triggers and thresholds. The implications of these findings can help academics and coaches to understand the dynamic relationship between types of coaching cognitions and the complexity of the coaching environment.

Keywords: sports coaching, Psychology, Pedagogy, cognition

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Authors: Yin-Yee Leong, Jack C. Yue, Hsin-Chung Wang

Abstract:

Human longevity has been experiencing its largest increase since the end of World War II, and modeling the mortality rates is therefore often the focus of many studies. Among all mortality models, the Lee–Carter model is the most popular approach since it is fairly easy to use and has good accuracy in predicting mortality rates (e.g., for Japan and the USA). However, empirical studies from several countries have shown that the age parameters of the Lee–Carter model are not constant in time. Many modifications of the Lee–Carter model have been proposed to deal with this problem, including adding an extra cohort effect and adding another period effect. In this study, we propose a spatial modification and use clusters to explain why the age parameters of the Lee–Carter model are not constant. In spatial analysis, clusters are areas with unusually high or low mortality rates than their neighbors, where the “location” of mortality rates is measured by age and time, that is, a 2-dimensional coordinate. We use a popular cluster detection method—Spatial scan statistics, a local statistical test based on the likelihood ratio test to evaluate where there are locations with mortality rates that cannot be described well by the Lee–Carter model. We first use computer simulation to demonstrate that the cluster effect is a possible source causing the problem of the age parameters not being constant. Next, we show that adding the cluster effect can solve the non-constant problem. We also apply the proposed approach to mortality data from Japan, France, the USA, and Taiwan. The empirical results show that our approach has better-fitting results and smaller mean absolute percentage errors than the Lee–Carter model.

Keywords: mortality improvement, Lee–Carter model, spatial statistics, cluster detection

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Authors: Jean-Paul Kapuya Bulaba Nyembwe, John Omomoluwa Ogundiran, Manuel Carlos Gameiro da Silva

Abstract:

Indoor environmental quality (IEQ) remains a global concern because it impacts people's comfort, health, performance, and general well-being. People spend a significant amount of time in buildings or while commuting, hence ensuring the minimal risk in indoor spaces by ensuring suitable IEQ. IEQ studies are limited regarding developing sub-Saharan countries, whereas there is also a huge risk and concern for the current population and geometric growth as many cities in the region will become mega-cities by 2040 (World Bank report). The absence of suitable IEQ regulations and energy poverty are reasons to assess the IEQ gaps for increased awareness of sustainable interventions to minimize the associated risk. This study evaluates the gaps and potential hazards that exist in the IEQ of sub-Saharan countries using empirical studies of hospital occupants and BRT bus passengers and drivers. The Surveys were conducted in 3 cities of the Democratic Republic of Congo and Lagos metropolis of Nigeria. The results suggest that gaps exist in IEQ for these regions. The gaps indicate existential risk to people’s health, comfort, and well-being. The inferential conclusions are that there is a need for further scientific studies, improvement in IEQ conditions, and ensuring suitable regulations for developing sub-Saharan countries.

Keywords: health hazards, hospitals indoor environmental quality, indoor spaces, occupants, sub-Saharan countries, vehicles

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Authors: Imen Latrous

Abstract:

Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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Authors: Patricia Heredia, Isabel Saz, Marta Fernández

Abstract:

This article proposes that the decision regarding exporting and the choice of export channel are nested and non-independent decisions. We assume that firms make two sequential decisions before arriving at their final choice: the decision to access foreign markets and the decision about the type of channel. This hierarchical perspective of the choices involved in the process is appealing for two reasons. First, it supports the idea that people have a limited analytical capacity. Managers often break down a complex decision into a hierarchical process because this makes it more manageable. Secondly, it recognizes that important differences exist between entry modes. In light of the above, the objective of this study is to test different entry mode choice processes: independent decisions and nested and non-independent decisions. To do this, the methodology estimates and compares the following two models: (i) a simultaneous single-stage model with three entry mode choices (using a multinomial logit model); ii) a two-stage model with the export decision preceding the channel decision using a sequential logit model. The study uses resource-based factors in determining these decision processes concerning internationalization and the study carries out empirical analysis using a DOC Rioja sample of 177 firms.Using the Akaike and Schwarz Information Criteria, the empirical evidence supports the existence of a nested structure, where the decision about exporting precedes the export mode decision. The implications and contributions of the findings are discussed.

Keywords: sequential logit model, two-stage choice process, export mode, wine industry

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Authors: Helena Baffoe

Abstract:

The US has developed numerous programs over the past 50 years to enhance the lives of those who suffer from mental health illnesses and substance abuse, as well as the effectiveness of their treatments. Despite these advances over the past 50 years, there hasn't been a corresponding improvement in American public attitudes and beliefs about mental health disorders and substance abuse. Highly publicized acts of violence frequently elicit comments that blame the perpetrator's perceived mental health disorder since such people are thought to be substance abusers. Despite these strong public beliefs and perception about mental disorder and substance abuse, concreate empirical evidence that entail this perception is lacking, and evidence of their effectiveness has not been integrated. A rich data was collected from Substance Abuse and Mental Health Services Administration (SAMHSA) with a hypothesis that people who are diagnosed with a mental health disorder are likely to be diagnosed with substance abuse using logit regression analysis and Instrumental Variable. It was found that depressive, anxiety, and trauma/stressor mental disorders constitute the most common mental disorder in the United States, and the study could not find statistically significant evidence that being diagnosed with these leading mental health disorders in the United States does necessarily imply that such a patient is diagnosed with substances abuse. Thus, the public has a misconception of mental health and substance abuse issues, and social workers' responsibilities are outlined in order to assist ameliorate this attitude and perception.

Keywords: mental health disorder, substance abuse, role of a social worker, evidence based research

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Authors: Tanusha Raniga, Michael Boecker, Maud Mthembu

Abstract:

This paper considers the formal employment sector, human capacity development and economic capital of single-mother households’ as they strive to sustain livelihoods. This paper advances empirical data in the field of economic and social development policy. The correlation between educational level, human capacity development and economic self-reliance of single-mother households is considered. This paper presents empirical evidence obtained from qualitative in-depth interviews conducted with twenty-five single mothers who were working in the formal work sector in Hagen, Germany and two provinces, namely KwaZulu-Natal and Gauteng in South Africa. This is an underexplored research area as most of the international literature focuses on pathology and victimhood related to single-mother households. Instead, this paper presents the biographic profiles and discusses two key themes that emerged from the data analysis namely; formal and informal streams of income enhanced human capital development through access to further education and training opportunities. The women perceived these themes as facilitating factors which helped them sustain their households. The paper presents some suggestions for policymakers and social work practitioners to consider to improve support systems and avoid economic exclusion of single mothers who work within the first economy.

Keywords: single mothers, formal work sector, economic capital, human capital

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Authors: Jiahui Yang, John Quigley, Lesley Walls

Abstract:

In this paper, the authors develop a stochastic model regarding the investment in supplier delivery performance development from a buyer’s perspective. The authors propose a multivariate model through a Multinomial-Dirichlet distribution within an Empirical Bayesian inference framework, representing both the epistemic and aleatory uncertainties in deliveries. A closed form solution is obtained and the lower and upper bound for both optimal investment level and expected profit under uncertainty are derived. The theoretical properties provide decision makers with useful insights regarding supplier delivery performance improvement problems where multiple delivery statuses are involved. The authors also extend the model from a single supplier investment into a supplier portfolio, using a Lagrangian method to obtain a theoretical expression for an optimal investment level and overall expected profit. The model enables a buyer to know how the marginal expected profit/investment level of each supplier changes with respect to the budget and which supplier should be invested in when additional budget is available. An application of this model is illustrated in a simulation study. Overall, the main contribution of this study is to provide an optimal investment decision making framework for supplier development, taking into account multiple delivery statuses as well as multiple projects.

Keywords: decision making, empirical bayesian, portfolio optimization, supplier development, supply chain management

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Authors: Benoît Leclercq, Ilse Depraetere

Abstract:

The goal of this presentation is to shed new light on the semantics and pragmatics of be able to. It presents the results of a corpus analysis based on data from the BNC (British National Corpus), and discusses these results in light of a specific stance on the semantics-pragmatics interface taking into account recent developments. Be able to is often discussed in relation to can and could, all of which can be used to express ability. Such an onomasiological approach often results in the identification of usage constraints for each expression. In the case of be able to, it is the formal properties of the modal expression (unlike can and could, be able to has non-finite forms) that are in the foreground, and the modal expression is described as the verb that conveys future ability. Be able to is also argued to expressed actualised ability in the past (I was able/could to open the door). This presentation aims to provide a more accurate pragmatic-semantic profile of be able to, based on extensive data analysis and one that is embedded in a very explicit view on the semantics-pragmatics interface. A random sample of 3000 examples (1000 for each modal verb) extracted from the BNC was analysed to account for the following issues. First, the challenge is to identify the exact semantic range of be able to. The results show that, contrary to general assumption, be able to does not only express ability but it shares most of the root meanings usually associated with the possibility modals can and could. The data reveal that what is called opportunity is, in fact, the most frequent meaning of be able to. Second, attention will be given to the notion of actualisation. It is commonly argued that be able to is the preferred form when the residue actualises: (1) The only reason he was able to do that was because of the restriction (BNC, spoken) (2) It is only through my imaginative shuffling of the aces that we are able to stay ahead of the pack. (BNC, written) Although this notion has been studied in detail within formal semantic approaches, empirical data is crucially lacking and it is unclear whether actualisation constitutes a conventional (and distinguishing) property of be able to. The empirical analysis provides solid evidence that actualisation is indeed a conventional feature of the modal. Furthermore, the dataset reveals that be able to expresses actualised 'opportunities' and not actualised 'abilities'. In the final part of this paper, attention will be given to the theoretical implications of the empirical findings, and in particular to the following paradox: how can the same expression encode both modal meaning (non-factual) and actualisation (factual)? It will be argued that this largely depends on one's conception of the semantics-pragmatics interface, and that this need not be an issue when actualisation (unlike modality) is analysed as a generalised conversational implicature and thus is considered part of the conventional pragmatic layer of be able to.

Keywords: Actualisation, Modality, Pragmatics, Semantics

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Authors: Ipek Kivanc, Demet Ozgur-Unluakin

Abstract:

Over the past years, technological innovations and advancements have played an important role in the industrial world. Due to technological improvements, the degree of complexity of the systems has increased. Hence, all systems are getting more uncertain that emerges from increased complexity, resulting in more cost. It is challenging to cope with this situation. So, implementing efficient planning of maintenance activities in such systems are getting more essential. Partially Observable Markov Decision Processes (POMDPs) are powerful tools for stochastic sequential decision problems under uncertainty. Although maintenance optimization in a dynamic environment can be modeled as such a sequential decision problem, POMDPs are not widely used for tackling maintenance problems. However, they can be well-suited frameworks for obtaining optimal maintenance policies. In the classical representation of the POMDP framework, the system is denoted by a single node which has multiple states. The main drawback of this classical approach is that the state space grows exponentially with the number of state variables. On the other side, factored representation of POMDPs enables to simplify the complexity of the states by taking advantage of the factored structure already available in the nature of the problem. The main idea of factored POMDPs is that they can be compactly modeled through dynamic Bayesian networks (DBNs), which are graphical representations for stochastic processes, by exploiting the structure of this representation. This study aims to demonstrate how maintenance planning of dynamic systems can be modeled with factored POMDPs. An empirical maintenance planning problem of a dynamic system consisting of four partially observable components deteriorating in time is designed. To solve the empirical model, we resort to Symbolic Perseus solver which is one of the state-of-the-art factored POMDP solvers enabling approximate solutions. We generate some more predefined policies based on corrective or proactive maintenance strategies. We execute the policies on the empirical problem for many replications and compare their performances under various scenarios. The results show that the computed policies from the POMDP model are superior to the others. Acknowledgment: This work is supported by the Scientific and Technological Research Council of Turkey (TÜBİTAK) under grant no: 117M587.

Keywords: factored representation, maintenance, multi-component system, partially observable Markov decision processes

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Authors: Haitao Yang, Jianming Lv, Fei Xu, Xintong Wang, Yilin Huang, Lanting Xia, Xuewu Zhu

Abstract:

Given a fixed fund, purchasing fewer hosts of higher capability or inversely more of lower capability is a must-be-made trade-off in practices for building a Hadoop big data platform. An exploratory study is presented for a Housing Big Data Platform project (HBDP), where typical big data computing is with SQL queries of aggregate, join, and space-time condition selections executed upon massive data from more than 10 million housing units. In HBDP, an empirical formula was introduced to predict the performance of host clusters potential for the intended typical big data computing, and it was shaped via a regression approach. With this empirical formula, it is easy to suggest an optimal cluster configuration. The investigation was based on a typical Hadoop computing ecosystem HDFS+Hive+Spark. A proper metric was raised to measure the performance of Hadoop clusters in HBDP, which was tested and compared with its predicted counterpart, on executing three kinds of typical SQL query tasks. Tests were conducted with respect to factors of CPU benchmark, memory size, virtual host division, and the number of element physical host in cluster. The research has been applied to practical cluster procurement for housing big data computing.

Keywords: Hadoop platform planning, optimal cluster scheme at fixed-fund, performance predicting formula, typical SQL query tasks

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Authors: Pooja Booluck

Abstract:

A U-shaped learning curve entails a three-step process: a good performance followed by a bad performance followed by a good performance again. U-shaped curves have been observed not only in language acquisition but also in various fields such as temperature face recognition object permanence to name a few. Building on previous studies of the curve child language acquisition and Second Language Acquisition this empirical study seeks to investigate the relevance of the U-shaped learning model to the acquisition of the difference between cest and il est in the English Learners of French context. The present study was developed to assess whether older learners of French in the ELF context follow the same acquisition pattern. The empirical study was conducted on 15 English learners of French which lasted six weeks. Compositions and questionnaires were collected from each subject at three time intervals (after one week after three weeks after six weeks) after which students work were graded as being either correct or incorrect. The data indicates that there is evidence of a U-shaped learning curve in the acquisition of cest and il est and students did follow the same acquisition pattern as children in regards to rote-learned terms and subject clitics. This paper also discusses the need to introduce modules on U-shaped learning curve in teaching curriculum as many teachers are unaware of the trajectory learners undertake while acquiring core components in grammar. In addition this study also addresses the need to conduct more research on the acquisition of rote-learned terms and subject clitics in SLA.

Keywords: child language acquisition, rote-learning, subject clitics, u-shaped learning model

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Authors: Yih-Wenn Laih

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In recent times, the dependence and co-movement among international financial markets have become stronger than in the past, as evidenced by commentaries in the news media and the financial sections of newspapers. Studying the co-movement between returns in financial markets is an important issue for portfolio management and risk management. The realization of co-movement helps investors to identify the opportunities for international portfolio management in terms of asset allocation and pricing. Since the election of the new Prime Minister, Shinzo Abe, in November 2012, the yen has weakened against the US dollar from the 80 to the 120 level. The policies, known as “Abenomics,” are to encourage private investment through a more aggressive mix of monetary and fiscal policy. Given the close economic relations and competitions among Asia markets, it is interesting to discover the co-movement relations, affected by the depreciation of yen, between stock market of Japan and 5 major Asia stock markets, including China, Hong Kong, Korea, Singapore, and Taiwan. Specifically, we devote ourselves to measure the co-movement of stock markets between Japan and each one of the 5 Asia stock markets in terms of rank correlation coefficients. To compute the coefficients, return series of each stock market is first fitted by a skewed-t GARCH (generalized autoregressive conditional heteroscedasticity) model. Secondly, to measure the dependence structure between matched stock markets, we employ the symmetrized Joe-Clayton (SJC) copula to calculate the probability density function of paired skewed-t distributions. The joint probability density function is then utilized as the scoring scheme to optimize the sequence alignment by dynamic programming method. Finally, we compute the rank correlation coefficients (Kendall's  and Spearman's ) between matched stock markets based on their aligned sequences. We collect empirical data of 6 stock indexes from Taiwan Economic Journal. The data is sampled at a daily frequency covering the period from January 1, 2013 to July 31, 2015. The empirical distributions of returns indicate fatter tails than the normal distribution. Therefore, the skewed-t distribution and SJC copula are appropriate for characterizing the data. According to the computed Kendall’s τ, Korea has the strongest co-movement relation with Japan, followed by Taiwan, China, and Singapore; the weakest is Hong Kong. On the other hand, the Spearman’s ρ reveals that the strength of co-movement between markets with Japan in decreasing order are Korea, China, Taiwan, Singapore, and Hong Kong. We explore the effects of “Abenomics” on Asia stock markets by measuring the co-movement relation between Japan and five major Asia stock markets in terms of rank correlation coefficients. The matched markets are aligned by a hybrid method consisting of GARCH, copula and sequence alignment. Empirical experiments indicate that Korea has the strongest co-movement relation with Japan. The strength of China and Taiwan are better than Singapore. The Hong Kong market has the weakest co-movement relation with Japan.

Keywords: co-movement, depreciation of Yen, rank correlation, stock market

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Authors: Protik Basu, Indranil Ghosh, Pranab K. Dan

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Lean management is an integrated socio-technical system to bring about a competitive state in an organization. The purpose of this paper is to explore and integrate the role of customers and suppliers with the internal practices of the Indian manufacturing industries towards successful implementation of lean manufacturing (LM). An extensive literature survey is carried out. An attempt is made to build an exhaustive list of all the input manifests related to customers, suppliers and internal practices necessary for LM implementation, coupled with a similar exhaustive list of the benefits accrued from its successful implementation. A structural model is thus conceptualized, which is empirically validated based on the data from the Indian manufacturing sector. With the current impetus on developing the industrial sector, the Government of India recently introduced the Lean Manufacturing Competitiveness Scheme that aims to increase competitiveness with the help of lean concepts. There is a huge scope to enrich the Indian industries with the lean benefits, the implementation status being quite low. Hardly any survey-based empirical study in India has been found to integrate customers and suppliers with the internal processes towards successful LM implementation. This empirical research is thus carried out in the Indian manufacturing industries. The basic steps of the research methodology followed in this research are the identification of input and output manifest variables and latent constructs, model proposition and hypotheses development, development of survey instrument, sampling and data collection and model validation (exploratory factor analysis, confirmatory factor analysis, and structural equation modeling). The analysis reveals six key input constructs and three output constructs, indicating that these constructs should act in unison to maximize the benefits of implementing lean. The structural model presented in this paper may be treated as a guide to integrating customers and suppliers with internal practices to successfully implement lean. Integrating customers and suppliers with internal practices into a unified, coherent manufacturing system will lead to an optimum utilization of resources. This work is one of the very first researches to have a survey-based empirical analysis of the role of customers, suppliers and internal practices of the Indian manufacturing sector towards an effective lean implementation.

Keywords: customer management, internal manufacturing practices, lean benefits, lean implementation, lean manufacturing, structural model, supplier management

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Authors: Arnold Sanda Layuk

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Fraud in the disclosure of financial statements by management shows that agency conflict is an important issue in the company. The conflict has consequences for the agency costs that must be borne and has an impact on the firm's performance. The effect of agency costs on firm performance is investigated in this study, as well as whether several variables such as corporate governance mechanisms can positively moderate the agency cost and firm performance relationship. The agency cost is measured by the asset utilization ratio and discretionary expenditure ratio. The firm's performance is represented by the return on equity. Data was collected from the manufacturing companies listed on the Indonesia Stock Exchange from 2015 to 2019, then regressed on the panel data using the panel corrected standard error model (PCSE). According to the findings, agency costs are negatively related to firm performance, which supports previous empirical research findings. It also found that the agency cost and firm performance relationship is significantly moderated by board size and ownership concentration as the representatives of corporate governance mechanisms. It suggests that corporate governance can become tools to reduce agency costs and increase firm performance as well. The empirical evidence adds to previous research on agency conflict, particularly in emerging markets. These findings are expected to supplement previous research and provide additional information to shareholders in order to control opportunistic management decisions that affect their investments and discretionary operational expenses.

Keywords: agency cost, corporate governance, asset utilization ratio, firm performance

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Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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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 non-financial 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.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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Authors: Rui Du

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This paper attempts to assess the impact of a major sporting event —the Super Bowl on the local economies. The identification strategy is to compare the winning and losing cities at the National Football League (NFL) conference finals under the assumption of similar pre-treatment trends. The stock market performances of companies headquartered in these cities are used to capture the sudden changes in local economic activities during a short time span. The exogenous variations in the football game outcome allow a straightforward difference-in-differences approach to identify the effect. This study finds that the post-event trends in winning and losing cities diverge despite the fact that both cities have economically and statistically similar pre-event trends. Empirical analysis provides suggestive evidence of a positive, significant local economic impact of conference final wins, possibly through city image enhancement. Further empirical evidence shows the presence of heterogeneous effects across industrial sectors, suggesting that city image enhancing the effect of the Super Bowl participation is empirically relevant for the changes in the composition of local industries. Also, this study also adopts a similar strategy to examine the local economic impact of Super Bowl successes, however, finds no statistically significant effect.

Keywords: Super Bowl Participation, local economies, city image enhancement, difference-in-differences, industrial sectors

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Authors: Fan Wei, Tang Yipeng

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Knowledge sharing is of great value to organizational performance and innovation ability. However, the mainstream research has focused largely on the impact of knowledge sharing at the team level on individuals and teams. There is a lack of empirical studies on how employees interact in the exchange of knowledge and its effect on employees’ own creative performance. Based on communication accommodation theory and social exchange theory, this article explores the construction of an employee knowledge interaction mechanism under the moderating of social status and introduces the leader's creativity expectation as a moderating variable to explore its cross-level moderating effect on employee knowledge sharing and their own creative performance. An empirical test was conducted on 36 teaching and research teams in the two primary schools, and the results showed that: (1) Explicit/tacit knowledge of employees is positively correlated with acquisition of explicit/tacit knowledge; (2) Colleagues’ evaluations of employees’ social status play a moderating role between the employees’ explicit/tacit knowledge and the acquisition of explicit/tacit knowledge. (3) The leadership creativity expectation positively regulates the relationship between the employees' explicit knowledge acquisition and creative performance. This research helps to open the "black box" of the interpersonal interaction mechanism of knowledge sharing and also provides an important theoretical basis and practical guidance for organizational managers to effectively stimulate employee knowledge sharing and creative performance.

Keywords: knowledge sharing, knowledge interaction, social status, leadership creativity expectations, creative performance

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Authors: Samson T. Obafemi, Seraphin D. Eyono-Obono

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Information and Communication Technologies (ICTs) are pervasive nowadays, including in education where they are expected to improve the performance of learners. However, the hope placed in ICTs to find viable solutions to the problem of poor academic performance in schools in the developing world has not yet yielded the expected benefits. This problem serves as a motivation to this study whose aim is to examine the perceptions of educators on the advantages and disadvantages of e-learning. This aim will be subdivided into two types of research objectives. Objectives on the identification and design of theories and models will be achieved using content analysis and literature review. However, the objective on the empirical testing of such theories and models will be achieved through the survey of educators from different schools in the Pinetown District of the South African Kwazulu-Natal province. SPSS is used to quantitatively analyse the data collected by the questionnaire of this survey using descriptive statistics and Pearson correlations after assessing the validity and the reliability of the data. The main hypothesis driving this study is that there is a relationship between the demographics of educators’ and their adherence to learning theories on one side, and their perceptions on the advantages and disadvantages of e-learning on the other side, as argued by existing research; but this research views these learning theories under three perspectives: educators’ adherence to self-regulated learning, to constructivism, and to progressivism. This hypothesis was fully confirmed by the empirical study except for the demographic factor where teachers’ level of education was found to be the only demographic factor affecting the perceptions of educators on the advantages and disadvantages of e-learning.

Keywords: academic performance, e-learning, learning theories, teaching and learning

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