Search results for: market comparison

Authors: Wid Daghustani, Alison Mackenzie

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This research aims to understand how teachers of autistic children responded to teaching remotely during the Covid-19 pandemic. Six teachers who work in an autism centre were interviewed in face-to-face, semi-structured interviews in the Kingdom of Bahrain. The interviews focused on three themes, the effectiveness of remote teaching strategies, the types of remote teachings employed, and the impact on student’s educational outcomes. WhatsApp video calls were used to conduct the remote teaching since it was easy for mothers to us. According to all teachers, the unprecedented change was quite challenging for autos and their families, especially the mothers being the primary caretakers. Additionally, the effectiveness of remote teaching mainly depended on the cooperation and the willingness of the mothers and on the behaviour of the autistic child. Overall, teachers have agreed that in comparison to face-to-face teaching, remote teaching was not a very successful experience.

Keywords: remote teaching, autistic, COVID-19, teachers

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Authors: G. Krishna Mohana Rao, P. Ravi Kumar

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Milling is the process of removing unwanted material with suitable tool. Even though the milling process is having wider application, the vibration of machine tool and work piece during the process produces chatter on the products. Various methods of preventing the chatter have been incorporated into machine tool systems. Damper is cut into equal number of parts. Each part is called as finger. Multiple fingers were inserted in the hollow portion of the shank to reduce tool vibrations. In the present work, nonlinear static and dynamic analysis of the damper inserted end milling cutter used to reduce the chatter was done. A comparison is made for the milling cutter with multiple dampers. Surface roughness was determined by machining with multiple finger inserted milling cutters.

Keywords: damping inserts, end milling, vibrations, nonlinear dynamic analysis, number of fingers

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Authors: Mohammed Nishat, Ahmad Ghazali

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This study empirically examines the corporate governance and firm performance, and tries to evaluate the governance, ownership and control related variables which are hypothesized to affect on firms performance. This study tries to evaluate the effectiveness of corporate governance mechanism to achieve high level performance among companies listed on the Karachi Stock Exchange (KSE) over the period from 2005 to 2008. To measure the firm performance level this research uses three measures of performance; Return on assets (ROA), Return on Equity (ROE) and Tobin’s Q. To link the performance of firms with the corporate governance three categories of corporate governance variables are tested which includes governance, ownership and control related variables. Fixed effect regression model is used to test the link between corporate governance and firm performance for 267 KSE listed Pakistani firms. The result shows that corporate governance variables such as percentage block holding by individuals have positive impact on firm performance. When CEO is also the chairperson of board then it is found that firm performance is adversely affected. Also negative relationship is found between share held by insiders and performance of firm. Leverage has negative impact on the performance of the firm and firm size is positively related with the firms performance.

Keywords: corporate governance, performance, agency cost, Karachi stock market

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Authors: Mengyue Gong, Xinyi Li, Amarjeet Bassi

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Harvesting by-products while recovering biodiesel is considered a potentially valuable approach to increase the market feasibility of microalgae industry. Lutein is a possible by-product from microalgae that promotes eye health. The extraction efficiency and the expensive drying process of wet algae represent the major challenges for the utilization of microalgae biomass as a feedstock for lipids, proteins, and carotenoids. A wet extraction method was developed to extract lipids and lutein from microalga Chlorella vulgaris. To evaluate different solvent (mixtures) for the extraction, a quantitative analysis was established based on the polarity of solvents using Nile Red as the polarity (ETN) indicator. By the choice of binary solvent system then adding proper amount of water to achieve phase separation, lipids and lutein can be extracted simultaneously. Some other parameters for lipids and lutein production were also studied including saponification time, temperature, choice of alkali, and pre-treatment methods. The extraction efficiency with wet algae was compared with dried algae and shown better pigment recovery. The results indicated that the product pattern in each extracted phase was polarity dependent. Lutein and β-carotene were the main carotenoids extracted with ethanol while lipids come out with hexane.

Keywords: biodiesel, Chlorella vulgaris, extraction, lutein

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Authors: Gleda Kutrolli, Maksi Kutrolli, Etjon Meco

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SARS-CoV-2 virus is currently one of the most infectious pathogens for humans. It started in China at the end of 2019 and now it is spread in all over the world. The origin and diffusion of the SARS-CoV-2 epidemic, is analysed based on the discussion of viral phylogeny theory. With the aim of understanding the spread of infection in the affected countries, it is crucial to modelize the spread of the virus and simulate its activity. In this paper, the prediction of coronavirus outbreak is done by using SIR model without vital dynamics, applying different numerical technique solving ordinary differential equations (ODEs). We find out that ABM and MRT methods perform better than other techniques and that the activity of the virus will decrease in April but it never cease (for some time the activity will remain low) and the next cycle will start in the middle July 2020 for Norway and Denmark, and October 2020 for Sweden, and September for Finland.

Keywords: forecasting, ordinary differential equations, SARS-COV-2 epidemic, SIR model

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Authors: Ahmed R. Althobaiti, Malcolm Munro

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Communication and effective information exchange within technology has become a crucial part of delivering knowledge to students during the learning process. It enables better understanding, builds trust, respect and increase the knowledge between students. This paper examines the communication between undergraduate students and their lecturers during the Traditional lecture and in using the Interactive Electronic Lecture System (IELS). The IELS is an application that offers a set of components, which support the effective communication between students, themselves and their lecturers. Moreover, this paper highlights the communication skills such as sender, receiver, channel and feedback. It will show how the IELS creates a rich communication environment between its users and how they communicate effectively. To examine and check the effectiveness of communication an experiment has been conducted for groups of users; students and lecturers. The first group communicated during the Traditional lecture while the second group communicated by the IELS application. The result showed that there was an effective communication between the second group more than the first group.

Keywords: communication, effective information exchange, lecture, student

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Authors: N. Manjunatha, K. T. Rangswamy, N. Nagaraju, H. A. Prameela, P. Rudraswamy, M. Krishnareddy

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The identification of virus in cowpea especially potyviruses is confusing. Even though there are several studies on viruses causing diseases in cowpea, difficult to distinguish based on symptoms and serological detection. The differentiation of potyviruses considering as a constraint, the present study is initiated for molecular characterization, host plant resistance and epidemiology of the BCMV infecting cowpea. The etiological agent causing cowpea mosaic was identified as Bean Common Mosaic Virus (BCMV) on the basis of RT-PCR and electron microscopy. An approximately 750bp PCR product corresponding to coat protein (CP) region of the virus and the presence of long flexuous filamentous particles measuring about 952 nm in size typical to genus potyvirus were observed under electron microscope. The characterized virus isolate genome had 10054 nucleotides, excluding the 3’ terminal poly (A) tail. Comparison of polyprotein of the virus with other potyviruses showed similar genome organization with 9 cleavage sites resulted in 10 functional proteins. The pairwise sequence comparison of individual genes, P1 showed most divergent, but CP gene was less divergent at nucleotide and amino acid level. A phylogenetic tree constructed based on multiple sequence alignments of the polyprotein nucleotide and amino acid sequences of cowpea BCMV and potyviruses showed virus is closely related to BCMV-HB. Whereas, Soybean variant of china (KJ807806) and NL1 isolate (AY112735) showed 93.8 % (5’UTR) and 94.9 % (3’UTR) homology respectively with other BCMV isolates. This virus transmitted to different leguminous plant species and produced systemic symptoms under greenhouse conditions. Out of 100 cowpea genotypes screened, three genotypes viz., IC 8966, V 5 and IC 202806 showed immune reaction in both field and greenhouse conditions. Single marker analysis (SMA) was revealed out of 4 SSR markers linked to BCMV resistance, M135 marker explains 28.2 % of phenotypic variation (R2) and Polymorphic information content (PIC) value of these markers was ranged from 0.23 to 0.37. The correlation and regression analysis showed rainfall, and minimum temperature had significant negative impact and strong relationship with aphid population, whereas weak correlation was observed with disease incidence. Path coefficient analysis revealed most of the weather parameters exerted their indirect contributions to the aphid population and disease incidence except minimum temperature. This study helps to identify specific gaps in knowledge for researchers who may wish to further analyse the science behind complex interactions between vector-virus and host in relation to the environment. The resistant genotypes identified are could be effectively used in resistance breeding programme.

Keywords: cowpea, epidemiology, genotypes, virus

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Authors: Ali Nourollah, Mohsen Movahedinejad

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In this paper a new algorithm to generate random simple polygons from a given set of points in a two dimensional plane is designed. The proposed algorithm uses a genetic algorithm to generate polygons with few vertices. A new merge algorithm is presented which converts any two polygons into a simple polygon. This algorithm at first changes two polygons into a polygonal chain and then the polygonal chain is converted into a simple polygon. The process of converting a polygonal chain into a simple polygon is based on the removal of intersecting edges. The merge algorithm has the time complexity of O ((r+s) *l) where r and s are the size of merging polygons and l shows the number of intersecting edges removed from the polygonal chain. It will be shown that 1 < l < r+s. The experiments results show that the proposed algorithm has the ability to generate a great number of different simple polygons and has better performance in comparison to celebrated algorithms such as space partitioning and steady growth.

Keywords: Divide and conquer, genetic algorithm, merge polygons, Random simple polygon generation.

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Authors: Camille Aouinaït, Danilo Christen, Christoph Carlen

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Introduction: Small and Medium-sized Enterprises (SMEs) are facing different challenges such as pressures on environmental resources, the rise of downstream power, and trade liberalization. Remaining competitive by implementing innovations and engaging in collaborations could be a strategic solution. In Switzerland, the Federal Institute for Research in Agriculture (Agroscope), the Federal schools of technology (EPFL and ETHZ), Cantonal universities and Universities of Applied Sciences (UAS) can provide substantial inputs. UAS were developed with specific missions to match the labor markets and society needs. Research projects produce patents, publications and improved networks of scientific expertise. The study’s goal is to measure the contribution of UAS and research organization to innovation and the impact of collaborations with partners in the non-academic environment in Swiss traditional fruit production. Materials and methods: The European projects Traditional Food Network to improve the transfer of knowledge for innovation (TRAFOON) and Social Impact Assessment of Productive Interactions between science and society (SIAMPI) frame the present study. The former aims to fill the gap between the needs of traditional food producing SMEs and innovations implemented following European projects. The latter developed a method to assess the impacts of scientific research. On one side, interviews with market players have been performed to make an inventory of needs of Swiss SMEs producing apricots and berries. The participative method allowed matching the current needs and the existing innovations coming from past European projects. Swiss stakeholders (e.g. producers, retailers, an inter-branch organization of fruits and vegetables) directly rated the needs on a five-Likert scale. To transfer the knowledge to SMEs, training workshops have been organized for apricot and berries actors separately, on specific topics. On the other hand, a mapping of a social network is drawn to characterize the links between actors, with a focus on the Swiss canton of Valais and UAS Valais Wallis. Type and frequency of interactions among actors have identified thanks to interviews. Preliminary results: A list of 369 SMEs needs grouped in 22 categories was produced with 37 fulfilled questionnaires. Swiss stakeholders rated 31 needs very important. Training workshops on apricot are focusing on varietal innovations, storage, disease (bacterial blight), pest (Drosophila suzukii), sorting and rootstocks. Entrepreneurship was targeted through trademark discussions in berry production. The UAS Valais Wallis collaborated on a few projects with Agroscope along with industries, at European and national levels. Political and public bodies interfere with the central area of agricultural vulgarization that induces close relationships between the research and the practical side. Conclusions: The needs identified by Swiss stakeholders are becoming part of training workshops to incentivize innovations. The UAS Valais Wallis takes part in collaboration projects with the research environment and market players that bring innovations helping SMEs in their contextual environment. Then, a Strategic Research and Innovation Agenda will be created in order to pursue research and answer the issues facing by SMEs.

Keywords: agriculture, innovation, knowledge transfer, university and research collaboration

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Authors: Behnaz Mahdavi, Hamidreza Khodaei, Alireza Banitaba

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Conjugated Linoleic Acid is a group of long-chain unsaturated fatty acids with more than one double bond and a mixture of 28 isomers of Linoleic acid (C 18:2) and it is counted as one of the essential acids. The main purpose of this study was to investigate the effect of CLA on some reproductive hormones in rams. In this study, six rams 3 to 4 years old with an average weight of 90 kg were selected. Rams were randomly divided into 3 groups and were treated by CLA treatment for 30 days. The first group (as a control group) did not receive CLA, The second group received 0.5 gr and the third group received 1 gram of CLA. The blood testing was done on rams every 15 days using a 20 ml syringe. Data analysis was performed by SAS software. Also mean comparison was done using Duncan's test method (p<0.05). Obtained results showed that the serum concentration of testosterone hormone was decreased numerically as well as the concentration of FSH hormone however the concentration of LH was increased. Also, the CLA had a significant effect on Leptin concentration. CLA in oral form can reduce the concentration of testosterone in rams.

Keywords: CLA, ram, testosterone, conjugated linoleic acid

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Authors: Aniket Tiwari, Ameya London

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Web-based student attendance management system is required to assist the faculty and the lecturer for the time-consuming process. For this purpose, GSM/GPRS (Global System for Mobile Communication/General Packet Radio Service) based student’s attendance management system using RFID (Radio Frequency Identification) is a much convenient method to take the attendance. Student is provided with the RFID tags. When student comes near to the reader, it will sense the respective student and update attendance. The whole process is controlled using the microcontroller. The main advantage of this system is that it reduced the complexity comparison to student attendance system using RF technology. This system requires only one microcontroller for the operation, it is real time process. This paper reviews some of these monitoring systems and proposes a GPRS based student attendance system. The system can be easily accessed by the lecturers via the web and most importantly, the reports can be generated in real-time processing, thus, provides valuable information about the students’ commitments in attending the classes.

Keywords: RFID reader, RFID tags, student, attendance

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Authors: Halit Tutar, Omer Eren, Oguz Parlakay

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The demand for food and energy of mankind has been increasing every passing day. Renewable energy sources have been pushed to forefront since fossil fuels will be run out in the near future and their negative effects to the environment. As in every sector, the transport sector benefits from biofuel (biogas, bioethanol and biodiesel) one of the renewable energy sources as well. The edible oil crops are used in production of biodiesel. Utilizing edible oil crops as renewable energy source may raise a debate in the view of that there is a shortage in raw material of edible oil crops in Turkey. Researches related to utilization of non-edible oil crops as biodiesel raw materials have been recently increased, and especially studies related to their vegetative production and adaptation have been accelerated in Europe. In this review edible oil crops are compared to non-edible oil crops for biodiesel production in the sense of biodiesel production, some features of non-edible oil crops and their harmful emissions to environment are introduced. The data used in this study, obtained from articles, thesis, reports relevant to edible and non edible oil crops in biodiesel.

Keywords: biodiesel, edible oil crops, environmental impacts, renewable energy

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Authors: Kujhin Jeong, Sungjoo Lee

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In the past, cross-licensing was made up of various application or commercial patents. Today, cross-licensing is restricted to essential patents, which has emphasized their importance significantly. Literature has shown that patent portfolio provides information for patent protection or strategy decision-making, but little empirical research has found strategic tool of essential patents. This paper will highlight four types of essential patent portfolio and analysis about each strategy in the field of LTE-A. Specifically we collected essential patents of mobile communication company through ETSI (European Telecommunication Standards Institute) and build-up portfolio activity, concentration, diversity, and quality. Using these portfolios, we can understand each company’s strategic character about the technology of LTE-A and comparison analysis of financial results. Essential patents portfolio displays a mobile communication company’s strategy and its strategy’s impact on the performance of a company.

Keywords: essential patent, portfolio, patent portfolio, essential patent portfolio

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Authors: Mohammad Reza Ebrahimi

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In new restructured power systems, swift fault detection is very important. The parallel transmission-lines are vastly used in this kind of power systems because of high amount of energy transferring. In this paper, a method based on the comparison of two schemes, i.e., i) maximum magnitude of travelling-wave (TW) energy ii) the instants of maximum energy occurrence at the circuits of parallel transmission-line is proposed. Using the travelling-wave of fault in order to faulted line identification this method has noticeable operation time. Moreover, the algorithm can cover for identification of faults as external or internal faults. For an internal fault, the exact location of the fault can be estimated confidently. A lot of simulations have been done with PSCAD/EMTDC to verify the performance of the proposed algorithm.

Keywords: travelling-wave, maximum energy, parallel transmission-line, fault location

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Authors: Vakhtang Charaia

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The article focuses on the role of FDI in Georgia’s economic development for the last decade. To attract as much FDI as possible a proper investment climate should be on the place-institutional, policy and regulatory environment. Well-developed investment climate is the chance and motivation for both, local economy and foreign companies, to generate maximum income, create new work places and improve the quality of life. FDI trend is one of the best indicators of country’s economic sustainability and its attractiveness. Especially for small and developing countries, the amount of FDI matters, therefore, most of such countries are trying to compete with each other through improving their investment climate according to different world famous indexes. As a result of impressive reforms since 2003, Georgian economy was benefited with large invasion of FDI. However, the level of per capita GDP is still law in comparison to Eastern European countries and it should be improved. The main idea of the paper is to show a real linkage between FDI and employment ration, on the case of Georgian economy.

Keywords: foreign direct investment, employment, economic growth, taxes, corruption, sustainable development

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Authors: Shaheena Erkiah, Adjnu Damar Ladkoo

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Worldwide, improving tourism competitiveness has been on the agendas of many stakeholders of the hotel sector, and they seem to have agreed that one of the best ways to compete is via the implementation of electronic customer relationship management (e-CRM). In so doing, the organizations enjoy strategic positioning on the competitive market by managing better not only the customers but, other business components including knowledge and employee management. Over the recent years, the tourism industry in Mauritius has witnessed a drastic economic boom at international and national levels; providing a new outlook to boost business performance through existing and potential customers. E-CRM has been one of the management tools used to achieving this position. Thus, this insightful context- Mauritius- was opted for the study. The aim was to assess the effectiveness of e-CRM as a strategic tool in the hotel sector in Mauritius through the implementation of business strategy to create competitive advantage and impact on the business performance. To achieve the objectives of the study, a quantitative research methodology was adopted and the research revealed that e-CRM is indeed an effective strategic tool in the hotel industry in Mauritius that can provide a competitive advantage and impact positively on the organization’s performance.

Keywords: customer, electronic, management, relationship, strategic

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Authors: E. O. George, P. Ojeaga, D. Odejimi, O. Mattehws

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Has macroeconomic management succeeded in making privatization promote growth in Africa? What are the probable strategies that should accompany the privatization reform process to promote growth in Africa? To what extent has the privatization process succeeded in attracting foreign direct investment to Africa? The study investigates the relationship between macroeconomic management and privatization. Many African countries have embarked on one form of privatization reform or the other since 1980 as one of the stringent conditions for accessing capital from the IMF and the World Bank. Secondly globalization and the gradually integration of the African economy into the global economy also means that Africa has to strategically develop its domestic market to cushion itself from fluctuations and probable contagion associated with global economic crisis that are always inevitable Stiglitz. The methods of estimation used are the OLS, linear mixed effects (LME), 2SLS and the GMM method of estimation. It was found that macroeconomic management has the capacity to affect the success of the privatization reform process. It was also found that privatization was not promoting growth in Africa; privatization could promote growth if long run growth strategies are implemented together with the privatization reform process. Privatization was also found not to have the capacity to attract foreign investment to many African countries.

Keywords: Africa, political economy, game theory, macroeconomic management and privatization

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Authors: Lo Kar Yin, Law Ka Mei

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Architectural, engineering, construction and operations (AECO) industry practitioners have been well adapting to the dynamic construction market from the fundamental training of its discipline. As further triggered by the pandemic since 2019, great steps are taken in virtual environment and the best collaboration is strived with project teams without boundaries. With adoption of Building Information Modeling-based approach and qualitative analysis, this paper is to review quantity take-off and cost estimation process through modeling techniques in liaison with suppliers, fabricators, subcontractors, contractors, designers, consultants and services providers in the construction industry value chain for automatic project cost budgeting, project cost control and cost evaluation on design options of in-situ reinforced-concrete construction and Modular Integrated Construction (MiC) at design stage, variation of works and cash flow/spending analysis at construction stage as far as practicable, with a view to sharing the findings for enhancing mutual trust and co-operation among AECO industry practitioners. It is to foster development through a common prototype of design and build project delivery method in NEC Engineering and Construction Contract (ECC) Options A and C.

Keywords: building information modeling, cost estimation, quantity take-off, modeling techniques

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Authors: Ju-Young Hwang, Hyo-Gyoung Kwak

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This paper introduces a numerical analysis method for reinforced-concrete (RC) structures exposed to fire and compares the result with experimental results. The proposed analysis method for RC structure under the high temperature consists of two procedures. First step is to decide the temperature distribution across the section through the heat transfer analysis by using the time-temperature curve. After determination of the temperature distribution, the nonlinear analysis is followed. By considering material and geometrical nonlinearity with the temperature distribution, nonlinear analysis predicts the behavior of RC structure under the fire by the exposed time. The proposed method is validated by the comparison with the experimental results. Finally, prediction model to describe the status of after-cooling concrete can also be introduced based on the results of additional experiment. The product of this study is expected to be embedded for smart structure monitoring system against fire in u-City.

Keywords: RC, high temperature, after-cooling analysis, nonlinear analysis

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Authors: Fouad. Inel, Lakhdar. Khochemane

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This article presents a comparative response specification performance between two controllers of three and four cable based robots for various applications. The main objective of this work is: The first is to use the direct and inverse geometric model to study and simulate the end effector position of the robot with three and four cables. A graphical user interface has been implemented in order to visualizing the position of the robot. Secondly, we present the determination of static and dynamic tensions and lengths of cables required to flow different trajectories. At the end, we study the response of our systems in closed loop with a Proportional-Integrated Derivative (PID) and Proportional-Integrated (PD) controllers then this last are compared the results of the same examples using MATLAB/Simulink; we found that the PID method gives the better performance, such as rapidly speed response, settling time, compared to PD controller.

Keywords: parallel cable-based robots, geometric modeling, dynamic modeling, graphical user interface, open loop, PID/PD controllers

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Authors: Sumit Sharma, Rakesh Chandra, Pramod Kumar, Navin Kumar

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Molecular dynamics (MD) simulation has been used to study the effect of carbon nanofiber (CNF) volume fraction (Vf) and aspect ratio (l/d) on mechanical properties of CNF reinforced polypropylene (PP) composites. Materials Studio 5.5 has been used as a tool for finding the modulus and damping in composites. CNF composition in PP was varied by volume from 0 to 16%. Aspect ratio of CNF was varied from l/d=5 to l/d=100. To the best of the knowledge of the authors, till date there is no study, either experimental or analytical, which predict damping for CNF-PP composites at the nanoscale. Hence, this will be a valuable addition in the area of nanocomposites. Results show that with only 2% addition by volume of CNF in PP, E11 increases 748%. Increase in E22 is very less in comparison to the increase in E11. With increase in CNF aspect ratio (l/d) till l/d=60, the longitudinal loss factor (η11) decreases rapidly. Results of this study have been compared with those available in literature.

Keywords: carbon nanofiber, elasticity, mechanical properties, molecular dynamics

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Authors: M. Sadoughi, R. Ehsani

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The aim of the present study is examining the relationship between conceptual organizational culture and the level of tolerance in employees of Islamic Azad University of Shahre Ghods. This research is a correlational and analytic-descriptive one. The samples included 144 individuals. A 24-item standard questionnaire of organizational culture by Cameron and Queen was used in this study. This questionnaire has six criteria and each criterion includes four items that each item indicates one cultural dimension. Reliability coefficient of this questionnaire was normed using Cronbach's alpha of 0.91. Also, the 25-item questionnaire of tolerance by Conor and Davidson was used. This questionnaire is in a five-degree Likert scale form. It has seven criteria and is designed to measure the power of coping with pressure and threat. It has the needed content reliability and its reliability coefficient is normed using Cronbach's alpha of 0.87. Data were analyzed using Pearson correlation coefficient and multivariable regression. The results showed among various dimensions of organizational culture, there is a positive significant relationship between three dimensions (family, adhocracy, bureaucracy) and tolerance, there is a negative significant relationship between dimension of market and tolerance and components of organizational culture have the power of prediction and explaining the tolerance. In this explanation, the component of family is the most effective and the best predictor of tolerance.

Keywords: adhocracy, bureaucracy, organizational culture, tolerance

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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: Alix Limoges, William Bruch, Christophe Yohia, Jacques Piazzola

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A number of questions arise concerning the long-term impact of the contribution of marine aerosol fluxes generated at the air-sea interface on the occurrence of intense events (storms, floods, etc.) in the coastal environment. To this end, knowledge is needed on sea-spray emission rates and the atmospheric dynamics of the corresponding particles. Our aim is to implement the mesoscale model MESO-NH on the study area using an accurate sea-spray source function to estimate heat fluxes and impact on the precipitations. Based on an original and complete sea-spray source function, which covers a large size spectrum since taking into consideration the sea-spray produced by both bubble bursting and surface tearing process, we propose a comparison between model simulations and experimental data obtained during an oceanic scientific cruise on board the navy ship Atalante. The results show the relevance of the sea-spray flux calculations as well as their impact on the heat fluxes and AOD.

Keywords: atmospheric models, sea-spray source, sea-spray dynamics, aerosols

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Authors: Rihab Belguith, Fathi Abid

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The paper develops a system-based approach to investigate the dynamic adjustment of debt structure and investment policies of the Dow-Jones index. This approach enables the assessment of relations among sales, debt, and investment opportunities by considering the simultaneous effect of the market environmental change and future growth opportunities. We integrate the firm-specific sales variance to capture the industries' conditions in the model. Empirical results were obtained through a panel data set of firms with different sectors. The analysis support that environmental change does not affect equally the different industry since operating leverage differs among industries and so the sensitivity to sales variance. Including adjusted-specific variance, we find that there is no monotonic relation between leverage, sales, and investment. The firm may choose a low debt level in response to high sales variance but high leverage to attenuate the negative relation between sales variance and the current level of investment. We further find that while the overall effect of debt maturity on leverage is unaffected by the level of growth opportunities, the shorter the maturity of debt is, the smaller the direct effect of sales variance on investment.

Keywords: dynamic panel, investment, leverage decision, sales uncertainty

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Authors: Armita Ghobadi, Samantha Emerson, Seyda Ozcaliskan

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Being a bilingual involves mastery of both speech and gesture patterns in a second language (L2). We know from earlier work in first language (L1) production contexts that speech and co-speech gesture form a tightly integrated system: co-speech gesture mirrors the patterns observed in speech, suggesting an online effect of language on nonverbal representation of events in gesture during the act of speaking (i.e., “thinking for speaking”). Relatively less is known about the online effect of language on gesture in bilinguals speaking structurally different languages. The few existing studies—mostly with small sample sizes—suggests inconclusive findings: some show greater achievement of L2 patterns in gesture with more advanced L2 speech production, while others show preferences for L1 gesture patterns even in advanced bilinguals. In this study, we focus on advanced bilingual speakers of two structurally different languages (Spanish L1 with English L2) in comparison to L1 English speakers. We ask whether bilingual speakers will follow target L2 patterns not only in speech but also in gesture, or alternatively, follow L2 patterns in speech but resort to L1 patterns in gesture. We examined this question by studying speech and gestures produced by 23 advanced adult Spanish (L1)-English (L2) bilinguals (Mage=22; SD=7) and 23 monolingual English speakers (Mage=20; SD=2). Participants were shown 16 animated motion event scenes that included distinct manner and path components (e.g., "run over the bridge"). We recorded and transcribed all participant responses for speech and segmented it into sentence units that included at least one motion verb and its associated arguments. We also coded all gestures that accompanied each sentence unit. We focused on motion event descriptions as it shows strong crosslinguistic differences in the packaging of motion elements in speech and co-speech gesture in first language production contexts. English speakers synthesize manner and path into a single clause or gesture (he runs over the bridge; running fingers forward), while Spanish speakers express each component separately (manner-only: el corre=he is running; circle arms next to body conveying running; path-only: el cruza el puente=he crosses the bridge; trace finger forward conveying trajectory). We tallied all responses by group and packaging type, separately for speech and co-speech gesture. Our preliminary results (n=4/group) showed that productions in English L1 and Spanish L1 differed, with greater preference for conflated packaging in L1 English and separated packaging in L1 Spanish—a pattern that was also largely evident in co-speech gesture. Bilinguals’ production in L2 English, however, followed the patterns of the target language in speech—with greater preference for conflated packaging—but not in gesture. Bilinguals used separated and conflated strategies in gesture in roughly similar rates in their L2 English, showing an effect of both L1 and L2 on co-speech gesture. Our results suggest that online production of L2 language has more limited effects on L2 gestures and that mastery of native-like patterns in L2 gesture might take longer than native-like L2 speech patterns.

Keywords: bilingualism, cross-linguistic variation, gesture, second language acquisition, thinking for speaking hypothesis

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Authors: Steven Latré, Frederik Desplentere, Ilya Straumit, Stepan V. Lomov

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A method is proposed in order to create a three-dimensional finite element model representing fibre reinforced insulation materials for the simulation software Siemens NX. VoxTex software, a tool for quantification of µCT images of fibrous materials, is used for the transformation of microtomography images of random fibre reinforced composites into finite element models. An automatic tool was developed to execute the import of the models to the thermal solver module of Siemens NX. The paper describes the numerical tools used for the image quantification and the transformation and illustrates them on several thermal simulations of fibre reinforced insulation blankets filled with low thermal conductive fillers. The calculation of thermal conductivity is validated by comparison with the experimental data.

Keywords: analysis, modelling, thermal, voxel

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Authors: R. Verwiebe, L. Seewann, M. Wolf

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This presentation addresses marginalization and discrimination as experienced by young academics with a migrant background in the Austrian labor market. Focusing on second generation academics of Central Eastern European and Turkish descent we explore two major issues. First, we ask whether their career-entry and everyday professional life entails origin-specific barriers. As educational residents, they show competences which, when lacking, tend to be drawn upon to explain discrimination: excellent linguistic skills, accredited high-level training, and networks. Second, we concentrate on how this group reacts to discrimination and overcomes experiences of marginalization. To answer these questions, we utilize recent sociological and social psychological theories that focus on the diversity of individual experiences. This distinguishes us from a long tradition of research that has dealt with the motives that inform discrimination, but has less often considered the effects on those concerned. Similarly, applied coping strategies have less often been investigated, though they may provide unique insights into current problematic issues. Building upon present literature, we follow recent discrimination research incorporating the concepts of ‘multiple discrimination’, ‘subtle discrimination’, and ‘visual social markers’. 21 problem-centered interviews are the empirical foundation underlying this study. The interviewees completed their entire educational career in Austria, graduated in different universities and disciplines and are working in their first post-graduate jobs (career entry phase). In our analysis, we combined thematic charting with a coding method. The results emanating from our empirical material indicated a variety of discrimination experiences ranging from barely perceptible disadvantages to directly articulated and overt marginalization. The spectrum of experiences covered stereotypical suppositions at job interviews, the disavowal of competencies, symbolic or social exclusion by new colleges, restricted professional participation (e.g. customer contact) and non-recruitment due to religious or ethnical markers (e.g. headscarves). In these experiences the role of the academics education level, networks, or competences seemed to be minimal, as negative prejudice on the basis of visible ‘social markers’ operated ‘ex-ante’. The coping strategies identified in overcoming such barriers are: an increased emphasis on effort, avoidance of potentially marginalizing situations, direct resistance (mostly in the form of verbal opposition) and dismissal of negative experiences by ignoring or ironizing the situation. In some cases, the academics drew into their specific competences, such as an intellectual approach of studying specialist literature, focus on their intercultural competences or planning to migrate back to their parent’s country of origin. Our analysis further suggests a distinction between reactive (i.e. to act on and respond to experienced discrimination) and preventative strategies (applied to obviate discrimination) of coping. In light of our results, we would like to stress that the tension between educational and professional success experienced by academics with a migrant background – and the barriers and marginalization they continue to face – are essential issues to be introduced to socio-political discourse. It seems imperative to publicly accentuate the growing social, political and economic significance of this group, their educational aspirations, as well as their experiences of achievement and difficulties.

Keywords: coping strategies, discrimination, labor market, second generation university graduates

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Authors: Tiberiu Socaciu, Tudor Colomeischi, Eugenia Iancu

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Business failure affects in various proportions shareholders, managers, lenders (banks), suppliers, customers, the financial community, government and society as a whole. In the era in which we have telecommunications networks, exists an interdependence of markets, the effect of a failure of a company is relatively instant. To effectively manage risk exposure is thus require sophisticated support systems, supported by analytical tools to measure, monitor, manage and control operational risks that may arise. As we know, bankruptcy is a phenomenon that managers do not want no matter what stage of life is the company they direct / lead. In the analysis made by us, by the nature of economic models that are reviewed (Altman, Conan-Holder etc.), estimating the risk of bankruptcy of a company corresponds to some extent with its own business cycle tracing of the company. Various models for predicting bankruptcy take into account direct / indirect aspects such as market position, company growth trend, competition structure, characteristics and customer retention, organization and distribution, location etc. From the perspective of our research we will now review the economic models known in theory and practice for estimating the risk of bankruptcy; such models are based on indicators drawn from major accounting firms.

Keywords: Anglo-Saxon models, continental models, national models, statistical models

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Authors: Niya Chen, Jennifer Chan

Abstract:

In the financial market, risk management helps to minimize potential loss and maximize profit. There are two ways to assess risks; the first way is to calculate the risk directly based on the volatility. The most common risk measurements are Value at Risk (VaR), sharp ratio, and beta. Alternatively, we could look at the quantile of the return to assess the risk. Popular return models such as GARCH and stochastic volatility (SV) focus on modeling the mean of the return distribution via capturing the volatility dynamics; however, the quantile/expectile method will give us an idea of the distribution with the extreme return value. It will allow us to forecast VaR using return which is direct information. The advantage of using these non-parametric methods is that it is not bounded by the distribution assumptions from the parametric method. But the difference between them is that expectile uses a second-order loss function while quantile regression uses a first-order loss function. We consider several quantile functions, different volatility measures, and estimates from some volatility models. To estimate the expectile of the model, we use Realized Conditional Autoregressive Expectile (CARE) model with the bayesian method to achieve this. We would like to see if our proposed models outperform existing models in cryptocurrency, and we will test it by using Bitcoin mainly as well as Ethereum.

Keywords: expectile, CARE Model, CARR Model, quantile, cryptocurrency, Value at Risk

Procedia PDF Downloads 104