Search results for: financial bubble detection

Authors: Jiandong Lv, Xingang Wang, Cuiling Shao

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The rapid development of social media platforms has made it one of the important news sources. While it provides people with convenient real-time communication channels, fake news and rumors are also spread rapidly through social media platforms, misleading the public and even causing bad social impact in view of the slow speed and poor consistency of artificial rumor detection. We propose an end-to-end rumor detection model-TIMF, which captures the dependencies between multimodal data based on the interactive attention mechanism, uses a transformer for cross-modal feature sequence mapping and combines hybrid fusion strategies to obtain decision results. This paper verifies two multi-modal rumor detection datasets and proves the superior performance and early detection performance of the proposed model.

Keywords: hybrid fusion, multimodal fusion, rumor detection, social media, transformer

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Authors: Fatma Ezzahra Kateb, Neila Boulila Taktak, Mohamed Kabir Hassan

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We examine the impact of Islamic accounting and auditing standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) on the income smoothing perspective of Islamic financial institutions located in the Middle East and North Africa region between 2013 and 2018. Based on General Least square regression for panel data, we find a significant and positive relationship between intentional income smoothing and earning persistence and cash flow predictability in all models. However, we discovered that AAOIFI accounting standards (FAS) had a negative and significant effect on intentional income smoothing and earning persistence. As a result, the income smoothing efficiency is lower for IFIs that use FASs than IFIs that use IFRSs. Our findings emphasize the need for specific standards to enhance the relevance of financial reports disclosed by Islamic financial institutions.

Keywords: AAOIFI, financial reporting quality, income smoothing perspective, MENA countries

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Authors: Flex Anim

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The financial system is a decentralized studies system that was put into place in Ghana as a grassroots financial studies approach. Its main goal is to give people the precise knowledge, abilities, and training required for a given trade, business, profession, or occupation. In this essay, the question of how the financial studies system's devolution to local businesses results in responsible and responsive representation as well as long-term company learning is raised. It centers on two case studies, Asekwa Municipal and Oforikrom. The next question posed by the study is how senior high school students are rebuilding their livelihoods and socioeconomic well-being by creating new curriculum and social practices related to the finance and business studies system. The paper here concentrates on Kumasi District and makes inferences for the other two examples. The paper demonstrates how the financial studies system's establishment of representative groups creates the democratic space required for the successful representation of community goals. Nonetheless, the interests of a privileged few are advanced as a result of elite capture. The state's financial and business training programs do not adhere to the financial studies system's established policy procedures and do not transfer pertinent and discretionary resources to local educators. As a result, local educators are unable to encourage representation that is accountable and responsive. The financial studies system continues to pique the interest of rural areas, but this desire is skewed toward getting access to financial or business training institutions for higher education. Since the locals are not actively involved in financial education, the financial studies system serves just to advance the interests of specific populations. This article explains how rhetoric and personal benefits can be supported by the public even in the case of "failed" interventions.

Keywords: financial studies system, financial studies' devolution, local government, senior high schools and financial education, as well as community goals and representation

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Authors: Jingting Luo, Yong Wang, Ying Wang

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Pedestrian detection in image or video data is a very important and challenging task in security surveillance. The difficulty of this task is to locate and detect pedestrians of different scales in complex scenes accurately. To solve these problems, a deep neural network (RT-YOLOv3) is proposed to realize real-time pedestrian detection at different scales in security monitoring. RT-YOLOv3 improves the traditional YOLOv3 algorithm. Firstly, the deep residual network is added to extract vehicle features. Then six convolutional neural networks with different scales are designed and fused with the corresponding scale feature maps in the residual network to form the final feature pyramid to perform pedestrian detection tasks. This method can better characterize pedestrians. In order to further improve the accuracy and generalization ability of the model, a hybrid pedestrian data set training method is used to extract pedestrian data from the VOC data set and train with the INRIA pedestrian data set. Experiments show that the proposed RT-YOLOv3 method achieves 93.57% accuracy of mAP (mean average precision) and 46.52f/s (number of frames per second). In terms of accuracy, RT-YOLOv3 performs better than Fast R-CNN, Faster R-CNN, YOLO, SSD, YOLOv2, and YOLOv3. This method reduces the missed detection rate and false detection rate, improves the positioning accuracy, and meets the requirements of real-time detection of pedestrian objects.

Keywords: pedestrian detection, feature detection, convolutional neural network, real-time detection, YOLOv3

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Authors: G. L. Rithika, Arvind B. S., Akash R., Ananda Vinayak, Hema M. S.

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Cryptocurrencies were first launched in the year 2009 and have been a great asset to own. Cryptocurrencies are a representation of a completely distinct decentralization model for money. They also contribute to the elimination of currency monopolies and the liberation of money from control. The fact that no government agency can determine a coin's value or flow is what cryptocurrency advocates believe makes them safe and secure. The aim of this paper is to analyze the economic implications of cryptocurrency and how it would disrupt traditional financial systems. This paper analyses the growth of Cryptocurrency over the years and the potential threats of cryptocurrency to financial systems. Our analysis shows that although the DeFi design, like the traditional financial system, may have the ability to lower transaction costs, there are multiple layers where rents might build up because of endogenous competition limitations. The permissionless and anonymous design of DeFi poses issues for ensuring tax compliance, anti-money laundering laws and regulations, and preventing financial misconduct.

Keywords: cryptocurrencies, bitcoin, blockchain technology, traditional financial systems, decentralisation, regulatory framework

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Authors: Shamsuddeen Muhammad Ahmad

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The emergence and operations of Islamic Financial Institutions (IFIs) are being regarded as the new economic and financial pride at the global stage today. Admittedly, therefore, the IFIs has continued to impact positively on the economies of its host countries, especially the Gulf Cooperation Council (GCC) region, Asian and Western countries as well as making a steady in-road into the sub-Saharan Africa. Hence, the number of countries that adopted Islamic financial system in Africa has continued to increase. As a matter of fact, this paper examines the role and contributions of Islamic Financial Institutions (IFIs) to the economic growth and financial development of the big emerging markets in the African continent i.e. South Africa, Nigeria, and Egypt. The methods adopted for this study are descriptive, comparative and analytical in nature. Essentially, the findings from this study reveal that the three sampled countries are benefitting from the presence of IFIs in their economies in terms of contributions to economic growth and real sector participation, particularly for Egypt and South Africa. Similarly, they reap from foreign direct investments and economic diversification among others. However, this study recommends that African countries should integrate IFIs as part and parcel of their economic and financial systems, in order to benefit optimally from this new economic phenomenon.

Keywords: Islamic financial services, Africa, emerging markets, development, operation

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Authors: Maher un Nisa, Ahsan Khawaja

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Retinal imaging with Ultra-WideField (UWF) view technology has opened up new avenues in the field of retinal pathology detection. Recent developments in retinal imaging such as Optos California Imaging Device helps in acquiring high resolution images of the retina to help the Ophthalmologists in diagnosing and analyzing eye related pathologies more accurately. This paper investigates the acquired retinal details by comparing vessel detection in standard 450 color fundus images with the state of the art 2000 UWF retinal images.

Keywords: color fundus, retinal images, ultra-widefield, vessel detection

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Authors: Yosapon Kidsuntad

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The purpose of this dissertation was to explore the relationship between financial transparency and investor behavior. In carrying out this inquiry, the researcher used a questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. The results revealed that there are significant differences investor perceptions of the different dimensions of financial information transparency. These differences correspond to demographical variables with the exception of the educational level variable. It was also found that there are relationships between investor perceptions of the dimensions of financial information transparency and investor behavior in the private company in Dusit Area. Finally, the researcher also found that there are differences in investor behavior corresponding to different categories of investor experience.

Keywords: financial information transparency, investor behavior, private company, Dusit Area

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Authors: Sergei Aleinik, Yuri Matveev

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In this paper a novel method for the detection of clipping in speech signals is described. It is shown that the new method has better performance than known clipping detection methods, is easy to implement, and is robust to changes in signal amplitude, size of data, etc. Statistical simulation results are presented.

Keywords: clipping, clipped signal, speech signal processing, digital signal processing

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Authors: Edward Guillén, Jhordany Rodriguez, Rafael Páez

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Anomaly detection techniques have been focused on two main components: data extraction and selection and the second one is the analysis performed over the obtained data. The goal of this paper is to analyze the influence that each of these components has over the system performance by evaluating detection over network scenarios with different setups. The independent variables are as follows: the number of system inputs, the way the inputs are codified and the complexity of the analysis techniques. For the analysis, some approaches of artificial neural networks are implemented with different number of layers. The obtained results show the influence that each of these variables has in the system performance.

Keywords: network intrusion detection, machine learning, artificial neural network, anomaly detection module

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Authors: Alhamdi Alfi Fajri

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The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.

Keywords: fair value, PSAK No. 55, PSAK No. 60, information asymmetry, bank

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Authors: Vera Jancurova

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The financial theory is dominated by the believe that weekday effect has disappeared from current markets. The purpose of this article is to study anomalies, especially weekday effect, at real markets that disrupt the efficiency of financial markets. The research is based on the analyses of historical daily exchange rates of significant world indices to determine the presence of weekday effects on financial markets. The methodology used for the study is based on the analyzes of daily averages of particular indexes for different time periods. Average daily gains were analyzed for their whole time interval and then for particular five and ten years periods with the aim to detect the presence on current financial markets. The results confirm the presence of weekday effect at the most significant indices - for example: Nasdaq, S & P 500, FTSE 100 and the Hang Seng. It was confirmed that in the last ten years, the weekend effect disappeared from financial markets. However in last year’s the indicators show that weekday effect is coming back. The study shows that weekday effect has to be taken into consideration on financial markets, especially in the past years.

Keywords: indices, anomalies, behavioral finance, weekday effect

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Authors: Antigoni Panagiotopoulou, Lemonia Ragia

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High-resolution satellite images can provide detailed information about change detection on the earth. In the present work, QuickBird images of spatial resolution 60 cm/pixel and WorldView images of resolution 30 cm/pixel are utilized to perform automatic change detection in urban and suburban areas of Crete, Greece. There is a relative time difference of 13 years among the satellite images. Multiindex scene representation is applied on the images to classify the scene into buildings, vegetation, water and ground. Then, automatic change detection is made possible by pixel-per-pixel comparison of the classified multi-temporal images. The vegetation index and the water index which have been developed in this study prove effective. Furthermore, the proposed change detection approach not only indicates whether changes have taken place or not but also provides specific information relative to the types of changes. Experimentations with other different scenes in the future could help optimize the proposed spectral indices as well as the entire change detection methodology.

Keywords: change detection, multiindex scene representation, spectral index, QuickBird, WorldView

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Authors: Anocha Rojanapanich

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The objective of this research is to investigate the effects of earnings management on corporate transparency of the company in Dusit area workplace via financial reporting reliability and stakeholder acceptance as independent variable. And the company in Dusit are are taken as the population and sample. The questionnaire is used to collect data. Exploratory Factor Analysis is implemented to ensure construct validity, and correlation statistic is selected to test the relationship among all variable and the ordinary least squares regression is used to explore the hypothesized. The results show that earnings management has a significant and negative impact on financial reporting reliability, stakeholder acceptance, and corporate transparency. Both financial reporting reliability and stakeholder acceptance have an important and positive effect on corporate transparency, and they are then mediators of the earnings management-corporate transparency relationships.

Keywords: dusit area workplace, earnings management, financial report, business and marketing management

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Authors: Pavel Chmelar, Martin Dobrovolny

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Laser projection or laser footprint detection is today widely used in many fields of robotics, measurement, or electronics. The system accuracy strictly depends on precise laser footprint detection on target objects. This article deals with the laser line detection based on the RGB segmentation and the component labeling. As a measurement device was used the developed optical rangefinder. The optical rangefinder is equipped with vertical sweeping of the laser beam and high quality camera. This system was developed mainly for automatic exploration and mapping of unknown spaces. In the first section is presented a new detection algorithm. In the second section are presented measurements results. The measurements were performed in variable light conditions in interiors. The last part of the article present achieved results and their differences between day and night measurements.

Keywords: color segmentation, component labelling, laser line detection, automatic mapping, distance measurement, vector map

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Authors: Hyojin Lim, Cuong Nguyen Khac, Ho-Youl Jung

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In this paper, we propose moving object detection method which is helpful for driver to safely take his/her car out of parking lot. When moving objects such as motorbikes, pedestrians, the other cars and some obstacles are detected at the rear-side of host vehicle, the proposed algorithm can provide to driver warning. We assume that the host vehicle is just before departure. Gaussian Mixture Model (GMM) based background subtraction is basically applied. Pre-processing such as smoothing and post-processing as morphological filtering are added.We examine “which color space has better performance for detection of moving objects?” Three color spaces including RGB, YCbCr, and Y are applied and compared, in terms of detection rate. Through simulation, we prove that RGB space is more suitable for moving object detection based on background subtraction.

Keywords: gaussian mixture model, background subtraction, moving object detection, color space, morphological filtering

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Authors: Sani AbdulRahman Bala

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This empirical study delves into the realm of forensic accounting practices within the Nigerian Public Sector, seeking to quantitatively analyze their efficacy in addressing the persistent challenges of fraud and financial irregularities. With a focus on empirical data, this research employs a robust methodology to assess the current state of fraud in the Nigerian Public Sector and evaluate the performance of existing forensic accounting measures. Through quantitative analyses, including statistical models and data-driven insights, the study aims to identify patterns, trends, and correlations associated with fraudulent activities. The research objectives include scrutinizing documented fraud cases, examining the effectiveness of established forensic accounting practices, and proposing data-driven strategies for enhancing fraud detection and prevention. Leveraging quantitative methodologies, the study seeks to measure the impact of technological advancements on forensic accounting accuracy and efficiency. Additionally, the research explores collaborative mechanisms among government agencies, regulatory bodies, and the private sector by quantifying the effects of information sharing on fraud prevention. The empirical findings from this study are expected to provide a nuanced understanding of the challenges and opportunities in combating fraud within the Nigerian Public Sector. The quantitative insights derived from real-world data will contribute to the refinement of forensic accounting strategies, ensuring their effectiveness in addressing the unique complexities of financial irregularities in the public sector. The study's outcomes aim to inform policymakers, practitioners, and stakeholders, fostering evidence-based decision-making and proactive measures for a more resilient and fraud-resistant financial governance system in Nigeria.

Keywords: fraud, financial irregularities, nigerian public sector, quantitative investigation

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Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: Xinyi Zhao, Furong Tian

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Mycotoxins are secondary metabolic products of fungi. These are poisonous, carcinogens and mutagens in nature and pose a serious health threat to both humans and animals, causing severe illnesses and even deaths. The rapid, simple and cheap detection methods of mycotoxins are of immense importance and in great demand in the food and beverage industry as well as in agriculture and environmental monitoring. Lateral flow immunochromatographic strips (ICSTs) have been widely used in food safety, environment monitoring. Forty-six papers were identified and reviewed on Google Scholar and Scopus for their limit of detection and nanomaterial on Lateral flow immunochromatographic strips on different types of mycotoxins. The papers were dated 2001-2021. Twenty five papers were compared to identify the lowest limit of detection of among different mycotoxins (Aflatoxin B1: 10, Zearalenone:5, Fumonisin B1: 5, Trichothecene-A: 5). Most of these highly sensitive strips are competitive. Sandwich structure are usually used in large scale detection. In conclusion, the mycotoxin receives that most researches is aflatoxin B1 and its limit of detection is the lowest. Gold-nanopaticle based immunochromatographic test strips has the lowest limit of detection. Five papers involve smartphone detection and they all detect aflatoxin B1 with gold nanoparticles. In these papers, quantitative concentration results can be obtained when the user uploads the photograph of test lines using the smartphone application.

Keywords: aflatoxin B1, limit of detection, gold nanoparticle, lateral flow immunochromatographic strips, mycotoxins

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Authors: Vanessa Funk, Steven Blum, Stephanie Cole, Jorge Maciel, Matthew Lux

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Paper-based synthetic gene circuits offer a new paradigm for programmable, fieldable biodetection. We demonstrate that by freeze-drying gene circuits with in vitro expression machinery, we can use complimentary RNA sequences to trigger colorimetric changes upon rehydration. We have successfully utilized both green fluorescent protein and luciferase-based reporters for easy visualization purposes in solution. Through several efforts, we are aiming to use this new platform technology to address a variety of needs in portable detection by demonstrating several more expression and reporter systems for detection functions on paper. In addition to RNA-based biodetection, we are exploring the use of various mechanisms that cells use to respond to environmental conditions to move towards all-hazards detection. Examples include explosives, heavy metals for water quality, and toxic chemicals.

Keywords: cell-free lysates, detection, gene circuits, in vitro

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Authors: Hojat Heidari-Bafroui, Amer Charbaji, Constantine Anagnostopoulos, Mohammad Faghri

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Phosphorus is an essential nutrient for plant life which is most frequently found as phosphate in water. Once phosphate is found in abundance in surface water, a series of adverse effects on an ecosystem can be initiated. Therefore, a portable and reliable method is needed to monitor the phosphate concentrations in the field. In this paper, an inexpensive dip strip device with the ascorbic acid/antimony reagent dried on blotting paper along with wet chemistry is developed for the detection of low concentrations of phosphate in water. Ammonium molybdate and sulfuric acid are separately stored in liquid form so as to improve significantly the lifetime of the device and enhance the reproducibility of the device’s performance. The limit of detection and quantification for the optimized device are 0.134 ppm and 0.472 ppm for phosphate in water, respectively. The device’s shelf life, storage conditions, and limit of detection are superior to what has been previously reported for the paper-based phosphate detection devices.

Keywords: phosphate detection, paper-based device, molybdenum blue method, colorimetric assay

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Andrey V. Timofeev

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An adaptive nonparametric method is proposed for stable real-time detection of seismoacoustic sources in multichannel C-OTDR systems with a significant number of channels. This method guarantees given upper boundaries for probabilities of Type I and Type II errors. Properties of the proposed method are rigorously proved. The results of practical applications of the proposed method in a real C-OTDR-system are presented in this report.

Keywords: guaranteed detection, multichannel monitoring systems, change point, interval estimation, adaptive detection

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Authors: Rana I. Abdulghani, Amera I. Melhum

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With the abnormal growth of the usage of computers over networks and under the consideration or agreement of most of the computer security experts who said that the goal of building a secure system is never achieved effectively, all these points led to the design of the intrusion detection systems(IDS). This research adopts a comparison between two techniques for network intrusion detection, The first one used the (Particles Swarm Optimization) that fall within the field (Swarm Intelligence). In this Act, the algorithm Enhanced for the purpose of obtaining the minimum error rate by amending the cluster centers when better fitness function is found through the training stages. Results show that this modification gives more efficient exploration of the original algorithm. The second algorithm used a (Back propagation NN) algorithm. Finally a comparison between the results of two methods used were based on (NSL_KDD) data sets for the construction and evaluation of intrusion detection systems. This research is only interested in clustering the two categories (Normal and Abnormal) for the given connection records. Practices experiments result in intrude detection rate (99.183818%) for EPSO and intrude detection rate (69.446416%) for BP neural network.

Keywords: IDS, SI, BP, NSL_KDD, PSO

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Authors: Narong Kulnides

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This research involved fingerprints on ballistics after shooting. Two objectives of research were as follows; (1) to study the duration of the existence of latent fingerprints on .38, .45, 9 mm and .223 cartridge case after shooting, and (2) to compare the effectiveness of the detection of latent fingerprints by Black Powder, Super Glue, Perma Blue and Gun Bluing. The latent fingerprint appearance were studied on .38, .45, 9 mm. and .223 cartridge cases before and after shooting with Black Powder, Super Glue, Perma Blue and Gun Bluing. The detection times were 3 minute, 6, 12, 18, 24, 30, 36, 42, 48, 54, 60, 66, 72, 78 and 84 hours respectively. As a result of the study, it can be conclude that: (1) Before shooting, the detection of latent fingerprints on 38, .45, and 9 mm. and .223 cartridge cases with Black Powder, Super Glue, Perma Blue and Gun Bluing can detect the fingerprints at all detection times. (2) After shooting, the detection of latent fingerprints on .38, .45, 9 mm. and .223 cartridge cases with Black Powder, Super Glue did not appear. The detection of latent fingerprints on .38, .45, 9 mm. cartridge cases with Perma Blue and Gun Bluing were found 100% of the time and the detection of latent fingerprints on .223 cartridge cases with Perma Blue and Gun Bluing were found 40% and 46.67% of the time, respectively.

Keywords: ballistic, fingerprint, shooting, detection times

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Authors: Humayun Murshed, Shibly Abdullah

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The research conducted in early seventies apparently assumed the existence of a universal decision model for union negotiators and furthermore tended to regard financial information as a ‘neutral’ input into a rational decision-making process. However, research in the eighties began to question the neutrality of financial information as an input in collective bargaining rather viewing it as a potentially effective means for controlling the labour force. Furthermore, this later research also started challenging the simplistic assumptions relating particularly to union objectives which have underpinned the earlier search for universal union decision models. Despite the above developments there seems to be a dearth of studies in developing countries concerning the use of financial information in collective bargaining. This paper seeks to begin to remedy this deficiency. Utilising a case study approach based on two enterprises, one in the public sector and the other a multinational, the universal decision model is rejected and it is argued that the decision whether or not to use financial information is a contingent one and such a contingency is largely defined by the context and environment in which both union and management negotiators work. An attempt is also made to identify the factors constraining as well as promoting the use of financial information in collective bargaining, these being regarded as unique to the organizations within which the case studies are conducted.

Keywords: collective bargaining, developing countries, disclosures, financial information

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Moein Izadi, Ali Mohammadzadeh

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Detection of damaged parts of roads after earthquake is essential for coordinating rescuers. In this study, an approach is presented for the semi-automatic detection of damaged roads in a city using pre-event vector maps and both pre- and post-earthquake QuickBird satellite images. Damage is defined in this study as the debris of damaged buildings adjacent to the roads. Some spectral and texture features are considered for SVM classification step to detect damages. Finally, the proposed method is tested on QuickBird pan-sharpened images from the Bam City earthquake and the results show that an overall accuracy of 81% and a kappa coefficient of 0.71 are achieved for the damage detection. The obtained results indicate the efficiency and accuracy of the proposed approach.

Keywords: SVM classifier, disaster management, road damage detection, quickBird images

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Authors: Sarah A. Goodchild, Rachel Gao, Philip N. Bartlett

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A novel detection approach using immobilized DNA probes labeled with Anthraquinone (AQ) as an electrochemically active reporter moiety has been successfully developed as a new, simple, reliable method for the detection of DNA. This method represents a step forward in DNA detection as it can discriminate between multiple nucleotide polymorphisms within target DNA strands without the need for any additional reagents, reporters or processes such as melting of DNA strands. The detection approach utilizes single-stranded DNA probes immobilized on gold surfaces labeled at the distal terminus with AQ. The effective immobilization has been monitored using techniques such as AC impedance and Raman spectroscopy. Simple voltammetry techniques (Differential Pulse Voltammetry, Cyclic Voltammetry) are then used to monitor the reduction potential of the AQ before and after the addition of complementary strand of target DNA. A reliable relationship between the shift in reduction potential and the number of base pair mismatch has been established and can be used to discriminate between DNA from highly related pathogenic organisms of clinical importance. This indicates that this approach may have great potential to be exploited within biosensor kits for detection and diagnosis of pathogenic organisms in Point of Care devices.

Keywords: Anthraquinone, discrimination, DNA detection, electrochemical biosensor

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Authors: Giulia Dal Maso

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Within the contemporary financial capitalist configuration, the interplay of Chinese statecraft and financialization has shaped a new ‘ecology of financial expertise.’ This indicates the emergence of a new financial technocratic governance; that is increasingly changing the Chinese economy, reducing the state’s administrative and fiscal functions and increasing state assets in accordance with a new shareholder logic. In this shift, the creation of the stock market by the state was conceived not only as a new redistributor of wealth but as a ‘clearing house’ for social discontent resulting from work casualization, wage repression and a lack of social welfare. Since its inception in the wake of Deng Xiaoping’s reforms, the Chinese state has used the stock market as a means of securing social legitimation by providing a prearranged space where the disaggregated and vulnerable subjects left behind by the dismantlement of the collective work units of the Maoist period (danwei) can congregate. However, fieldwork which included both participant observation as well as interviews with investors in brokerage rooms in Shanghai (where one of only two mainland Chinese stock exchanges is situated) reveals that both new formal and informal financial experts—namely the haigui (Chinese returnees with a financial degree abroad) and sanhu (individual Chinese scattered players), are equally dissatisfied with their investing activities. They express discontent with the state, which they hold responsible for the summer 2015 financial crisis and for the financial turmoil that jeopardizes China’s financial and political project. What the investors want is a state that will guarantee the continuation of the current gupiaore ‘stock fever’. This paper holds that, by embracing financialization, the state is undermining the contract at the base of its legitimacy.

Keywords: Chinese state, Deng Xiaoping, financial capitalism, individual investors

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