Search results for: price transmission

Authors: Julio Albuja, David Zaldumbide

Abstract:

Data analysis is an important step before taking a decision about money. The aim of this work is to analyze the factors that influence the final price of the houses through data mining algorithms. To our best knowledge, previous work was researched just to compare results. Furthermore, before using the data of the data set, the Z-Transformation were used to standardize the data in the same range. Hence, the data was classified into two groups to visualize them in a readability format. A decision tree was built, and graphical data is displayed where clearly is easy to see the results and the factors' influence in these graphics. The definitions of these methods are described, as well as the descriptions of the results. Finally, conclusions and recommendations are presented related to the released results that our research showed making it easier to apply these algorithms using a customized data set.

Keywords: algorithms, data, decision tree, transformation

Procedia PDF Downloads 374

Authors: Jie Zhang, Chaomin Zhang, Jihua Zhang, Haitong Li

Abstract:

Using the theory of optimal distinctiveness, this study examines the effects of conformity and differentiation within corporate social responsibility (CSR) practices on capital market performance. Analysing data from Chinese A-share listed firms from 2007 to 2022, this paper demonstrates that when firms conform to the expected scope of CSR, such behaviour enhances investor attention and market acceptance, thereby boosting stock liquidity. Conversely, emphasising differentiation in CSR practices more effectively mitigates stock price crash risk by addressing principal–agent problems and decreasing information asymmetry. This paper also investigates how organisational and environmental factors moderate the relationship between conformity and differentiation in CSR practices and their impact on capital market performance. The results also show that the influence of conformity on stock liquidity is accentuated in smaller firms and environments with stringent legal oversight. By contrast, the benefits of differentiation in reducing stock price crash risk are amplified in firms with robust corporate governance and markets characterised by high uncertainty.

Keywords: corporate social responsibility, social responsibility practices, capital market performance, optimal distinctiveness

Procedia PDF Downloads 20

Authors: Paras Ram, Vikas Kumar

Abstract:

The transmission of Malaria with seasonal were studied through the use of mathematical models. The data from the annual number of Malaria cases reported to the Division of Epidemiology, Ministry of Public Health, Thailand during the period 1997-2011 were analyzed. The transmission of Malaria with seasonal was studied by formulating a mathematical model which had been modified to describe different situations encountered in the transmission of Malaria. In our model, the population was separated into two groups: the human and vector groups, and then constructed a system of nonlinear differential equations. Each human group was divided into susceptible, infectious in hot season, infectious in rainy season, infectious in cool season and recovered classes. The vector population was separated into two classes only: susceptible and infectious vectors. The analysis of the models was given by the standard dynamical modeling.

Keywords: ferrofluid, magnetic field, porous medium, rotating disk, Neuringer-Rosensweig Model

Procedia PDF Downloads 421

Authors: Anyapak Prapannetivuth

Abstract:

The purpose of this research is to investigate the marketing mix that is perceived to be important for the small sized hotels in Pattaya. Unlike previous studies, this research provides insights through a review of the marketing activities performed by the small sized hotels. Nine owners and marketing manager of small sized hotels and resorts, all local Chonburi people, were selected for an in-depth interview. A snowball sampling process was employed. The research suggests that seven marketing mixes (e.g. Product, Price, Place, Promotion, People, Physical Evidence and Process) were commonly used by these hotels, however, three types – People, price and physical evidence were considered most important by the owners.

Keywords: marketing mix, marketing tools, small sized hotels, pattaya

Procedia PDF Downloads 287

Authors: Sreenesh Shashidharan, Umesh Gaikwad

Abstract:

QI or 'Chee' which is an interface standard for inductive electrical power transfer over distances of up to 4 cm (1.6 inches). The Qi system comprises a power transmission pad and a compatible receiver in a portable device which is placed on top of the power transmission pad, which charges using the principle of electromagnetic induction. An alternating current is passed through the transmitter coil, generating a magnetic field. This, in turn, induces a voltage in the receiver coil; this can be used to power a mobile device or charge a battery. The efficiency of the power transfer depends on the coupling (k) between the inductors and their quality (Q) The coupling is determined by the distance between the inductors (z) and the relative size (D2 /D). The coupling is further determined by the shape of the coils and the angle between them. If the receiver coil is at a certain distance to the transmitter coil, only a fraction of the magnetic flux, which is generated by the transmitter coil, penetrates the receiver coil and contributes to the power transmission. The more flux reaches the receiver, the better the coils are coupled.

Keywords: inductive electric power, electromagnetic induction, magnetic flux, coupling

Procedia PDF Downloads 732

Authors: Hanen Khanchel, Karim Ben Kahla

Abstract:

Pharmaceutical companies are facing competition. Indeed, the price differences between competing products can be such that it becomes difficult to compensate them by differences in value added. The conditions of competition are no longer homogeneous for the players involved. The price of a product is a given that puts a company and its customer face to face. However, price fixing obliges the company to consider internal factors relating to production costs and external factors such as customer attitudes, the existence of regulations and the structure of the market on which the firm evolved. In setting the selling price, the company must first take into account internal factors relating to its costs: costs of production fall into two categories, fixed costs and variable costs that depend on the quantities produced. The company cannot consider selling below what it costs the product. It, therefore, calculates the unit cost of production to which it adds the unit cost of distribution, enabling it to know the unit cost of production of the product. The company adds its margin and thus determines its selling price. The margin is used to remunerate the capital providers and to finance the activity of the company and its investments. Production costs are related to the quantities produced: large-scale production generally reduces the unit cost of production, which is an asset for companies with mass production markets. This shows that small and medium-sized companies with limited market segments need to make greater efforts to ensure their profit margins. As a result, and faced with high and low market prices for raw materials and increasing staff costs, the company must seek to optimize its production time in order to reduce loads and eliminate waste. Then, the customer pays only value added. Thus, and based on this principle we decided to create a project that deals with the problem of waste in our company, and having as objectives the reduction of production costs and improvement of performance indicators. This paper presents the implementation of the Value Stream Mapping (VSM) project in a pharmaceutical company. It is structured as follows: 1) determination of the family of products, 2) drawing of the current state, 3) drawing of the future state, 4) action plan and implementation.

Keywords: VSM, waste, production time, kaizen, cartography, improvement

Procedia PDF Downloads 150

Authors: Chien-Chun Hung, Chun-Fong Wu

Abstract:

It is important for a commander to have real-time information to aware situations and to make decision in the battlefield. Results of modern technique developments have brought in this kind of information for military purposes. Unmanned aerial vehicle (UAV) is one of the means to gather intelligence owing to its widespread applications. It is still not clear whether or not the mini UAV with short-range wireless transmission system is used as a reconnaissance system in Taiwanese. In this paper, previous experience on the research of the sort of aerial vehicles has been applied with a data-relay system using the ZigBee modulus. The mini UAV developed is expected to be able to collect certain data in some appropriate theaters. The omni-directional antenna with high gain is also integrated into mini UAV to fit the size-reducing trend of airborne sensors. Two advantages are so far obvious. First, mini UAV can fly higher than usual to avoid being attacked from ground fires. Second, the data will be almost gathered during all maneuvering attitudes.

Keywords: mini UAV, reconnaissance, wireless transmission, ZigBee modulus

Procedia PDF Downloads 194

Authors: Sonali Agarwal

Abstract:

The investor perception about investment avenues is affected to a great degree by the current happenings, within the country, and on the global stage. The influencing events can range from government policies, bilateral trade agreements, election agendas, to changing exchange rates, appreciation and depreciation of currency, recessions, meltdowns, bankruptcies etc. The current research attempts to discover and unravel the effect of various macroeconomic variables (crude oil price, gold price, silver price and USD exchange rate) on the Indian mutual fund industry in general and the chosen funds (Axis Gold Fund, BSL Gold Fund, Kotak Gold Fund & SBI gold fund) in particular. Cointegration tests and Vector error correction equations prove that the chosen variables have strong effect on the NAVs (net asset values) of the mutual funds. However, the greatest influence is felt from the fund’s own past and current information and it is found that when an innovation of fund’s own lagged NAVs is given, variance caused is high that changes the current NAVs markedly. The study helps to highlight the interplay of macroeconomic variables and their repercussion on mutual fund industry.

Keywords: cointegration, Granger causality, impulse response, macroeconomic variables, mutual funds, stationarity, unit root test, variance decomposition, VECM

Procedia PDF Downloads 244

Authors: Amit Das

Abstract:

Background and significance of the study: Generally investors and market forecasters use financial statement for investigation while it awakens contribute to investing. The main vicinity of financial accounting and reporting practices recommends a few basic financial performance indicators, namely, return on capital employed, return on assets and earnings per share, which is associated considerably with share prices. It is principally true in case of Indian pharmaceutical companies also. Share investing is intriguing a financial risk in addition to investors look for those financial evaluations which have noteworthy shock on share price. A crucial intention of financial statement analysis and reporting is to offer information which is helpful predominantly to exterior clients in creating credit as well as investment choices. Sound financial performance attracts the investors automatically and it will increase the share price of the respective companies. Keeping in view of this, this research work investigates the impact of financial performance indicators on share price of pharmaceutical companies in India which is listed in the Bombay Stock Exchange. Methodology: This research work is based on secondary data collected from moneycontrol database on September 28, 2015 of top 101 pharmaceutical companies in India. Since this study selects four financial performance indicators purposively and availability in the database, that is, earnings per share, return on capital employed, return on assets and net profits as independent variables and one dependent variable, share price of 101 pharmaceutical companies. While analysing the data, correlation statistics, multiple regression technique and appropriate test of significance have been used. Major findings: Correlation statistics show that four financial performance indicators of 101 pharmaceutical companies are associated positively and negatively with its share price and it is very much significant that more than 80 companies’ financial performances are related positively. Multiple correlation test results indicate that financial performance indicators are highly related with share prices of the selected pharmaceutical companies. Furthermore, multiple regression test results illustrate that when financial performances are good, share prices have been increased steadily in the Bombay stock exchange and all results are statistically significant. It is more important to note that sensitivity indices were changed slightly through financial performance indicators of selected pharmaceutical companies in India. Concluding statements: The share prices of pharmaceutical companies depend on the sound financial performances. It is very clear that share prices are changed with the movement of two important financial performance indicators, that is, earnings per share and return on assets. Since 101 pharmaceutical companies are listed in the Bombay stock exchange and Sensex are changed with this, it is obvious that Government of India has to take important decisions regarding production and exports of pharmaceutical products so that financial performance of all the pharmaceutical companies are improved and its share price are increased positively.

Keywords: financial performance indicators, share prices, pharmaceutical companies, India

Procedia PDF Downloads 306

Authors: Kazumasa Kawasaki, Isamu Tsuji, Hiroshi Gunbara

Abstract:

A face gear drive is actually composed of a spur or helical pinion that is in mesh with a face gear and transfers power and motion between intersecting or skew axes. Due to the peculiarity of the face gear drive in shunt and confluence drive, it shows potential advantages in the application in the helicopter transmission. The advantages of such applications are the possibility of the split of the torque that appears to be significant where a pinion drives two face gears to provide an accurate division of power and motion. This mechanism greatly reduces the weight and cost compared to conventional design. Therefore, this has been led to revived interest and the face gear drive has been utilized in substitution for bevel and hypoid gears in limited cases. The face gear drive with a spur or a helical pinion is newly designed in order to determine an effective meshing area under the design parameters and specific design dimensions. The face gear has two unique dimensions which control the face width of the tooth, and the outside and inside diameters of the face gear. On the other hand, it is necessary to modify the tooth surfaces of face gear drive in order to avoid the influences of alignment errors on the tooth contact patterns in practical use. In this case, the pinion tooth surfaces are usually modified in the conventional method. However, it is hard to control the tooth contact pattern intentionally and adjust the position of the pinion axis in meshing of the gear pair. Therefore, a method of the modification of the tooth surfaces of the face gear is proposed. Moreover, based on tooth contact analysis, the tooth contact pattern and transmission errors of the designed face gear drive are analyzed, and the influences of alignment errors on the tooth contact patterns and transmission errors are investigated. These results showed that the tooth contact patterns and transmission errors were controllable and the face gear drive which is insensitive to alignment errors can be obtained.

Keywords: alignment error, face gear, gear design, helicopter transmission, tooth contact analysis

Procedia PDF Downloads 437

Authors: Periklis Brakatsoulas

Abstract:

Recent empirical research shows a growing interest in investment decision-making under market anomalies that contradict the rational paradigm. Momentum is undoubtedly one of the most robust anomalies in the empirical asset pricing research and remains surprisingly lucrative ever since first documented. Although predominantly phenomena identified across equities, momentum premia are now evident across various asset classes. Yet few many attempts are made so far to provide traders a diversified portfolio of strategies across different assets and markets. Moreover, literature focuses on patterns from past returns rather than mechanisms to signal future price directions prior to momentum runs. The aim of this paper is to develop a diversified portfolio approach to price distortion signals using daily position data on stocks, credit derivatives, and bonds. An algorithm allocates assets periodically, and new investment tactics take over upon price momentum signals and across different ranking groups. We focus on momentum life cycles, trend reversals, and price acceleration signals. The main effort here concentrates on the density, time span and maturity of momentum phenomena to identify consistent patterns over time and measure the predictive power of buy-sell signals generated by these anomalies. To tackle this, we propose a two-stage modelling process. First, we generate forecasts on core macroeconomic drivers. Secondly, satellite models generate market risk forecasts using the core driver projections generated at the first stage as input. Moreover, using a combination of the ARFIMA and FIGARCH models, we examine the dependence of consecutive observations across time and portfolio assets since long memory behavior in volatilities of one market appears to trigger persistent volatility patterns across other markets. We believe that this is the first work that employs evidence of volatility transmissions among derivatives, equities, and bonds to identify momentum life cycle patterns.

Keywords: forecasting, long memory, momentum, returns

Procedia PDF Downloads 102

Authors: Ashok Kalagura

Abstract:

This paper presents a data-mining model for fault-zone identification of flexible AC transmission systems (FACTS)-based transmission line including a thyristor-controlled series compensator (TCSC) and unified power-flow controller (UPFC), using ensemble decision trees. Given the randomness in the ensemble of decision trees stacked inside the random forests model, it provides an effective decision on the fault-zone identification. Half-cycle post-fault current and voltage samples from the fault inception are used as an input vector against target output ‘1’ for the fault after TCSC/UPFC and ‘1’ for the fault before TCSC/UPFC for fault-zone identification. The algorithm is tested on simulated fault data with wide variations in operating parameters of the power system network, including noisy environment providing a reliability measure of 99% with faster response time (3/4th cycle from fault inception). The results of the presented approach using the RF model indicate the reliable identification of the fault zone in FACTS-based transmission lines.

Keywords: distance relaying, fault-zone identification, random forests, RFs, support vector machine, SVM, thyristor-controlled series compensator, TCSC, unified power-flow controller, UPFC

Procedia PDF Downloads 423

Authors: Prama Mukhopadhyay

Abstract:

Starting from transport to food, today’s world platform economy and digital markets have taken over almost every sphere of consumers’ lives. Sellers and buyers are getting connected through platforms, which is acting as an intermediary. It has made consumer’s life easier in terms of time, price, choice and other factors. Having said that, there are several concerns regarding platforms. There are competition law concerns like unfair pricing, deep discounting by the platforms which affect the consumer welfare. Apart from that, the biggest problem is lack of transparency with respect to the business models, how it operates, price calculation, etc. In most of the cases, consumers are unaware of how their personal data are being used. In most of the cases, they are unaware of how algorithm uses their personal data to determine the price of the product or even to show the relevant products using their previous searches. Using personal or non-personal data without consumer’s consent is a huge legal concern. In addition to this, another major issue lies with the question of liability. If a dispute arises, who will be responsible? The seller or the platform? For example, if someone ordered food through a food delivery app and the food was bad, in this situation who will be liable: the restaurant or the food delivery platform? In this paper, the researcher tries to examine the legal concern related to platform economy from the consumer protection and consumer welfare perspectives. The paper analyses the cases from different jurisdictions and approach taken by the judiciaries. The author compares the existing legislation of EU, US and other Asian Countries and tries to highlight the best practices.

Keywords: competition, consumer, data, platform

Procedia PDF Downloads 144

Authors: Eugene Kogan

Abstract:

We analytically study the localized running waves in the discrete Josephson transmission lines (JTL), constructed from Josephson junctions (JJ) and capacitors. The quasi-continuum approximation reduces the calculation of the running wave properties to the problem of equilibrium of an elastic rod in the potential field. Making additional approximations, we reduce the problem to the motion of the fictitious Newtonian particle in the potential well. We show that there exist running waves in the form of supersonic kinks and solitons and calculate their velocities and profiles. We show that the nonstationary smooth waves, which are small perturbations on the homogeneous non-zero background, are described by Korteweg-de Vries equation, and those on zero background -by the modified Korteweg-de Vries equation. We also study the effect of dissipation on the running waves in JTL and find that in the presence of the resistors, shunting the JJ and/or in series with the ground capacitors, the only possible stationary running waves are the shock waves, whose profiles are also found.

Keywords: Josephson transmission line, shocks, solitary waves, nonlinear waves

Procedia PDF Downloads 114

Authors: Aymen Sassi

Abstract:

The equipment of vehicles with wireless communication capabilities is expected to be the key to the evolution to next generation intelligent transportation systems (ITS). The IEEE community has been continuously working on the development of an efficient vehicular communication protocol for the enhancement of Wireless Access in Vehicular Environment (WAVE). Vehicular communication systems, called V2X, support vehicle to vehicle (V2V) and vehicle to infrastructure (V2I) communications. The efficiency of such communication systems depends on several factors, among which the surrounding environment and mobility are prominent. Accordingly, this study focuses on the evaluation of the real performance of vehicular communication with special focus on the effects of the real environment and mobility on V2X communication. It starts by identifying the real maximum range that such communication can support and then evaluates V2I and V2V performances. The Arada LocoMate OBU transmission system was used to test and evaluate the impact of the transmission range in V2X communication. The evaluation of V2I and V2V communication takes the real effects of low and high mobility on transmission into account.

Keywords: IEEE 802.11p, V2I, V2X, mobility, PLR, Arada LocoMate OBU, maximum range

Procedia PDF Downloads 415

Authors: Yong-Jun Kim, Jae-Hyun Ro, Chang-Bin Ha, Hyoung-Kyu Song

Abstract:

This paper proposes the cooperative transmission scheme with pre-coding because the cellular communication requires high reliability. The cooperative transmission scheme uses pre-coding method with limited feedback information among small cells. Particularly, the proposed scheme has adaptive mode according to the position of mobile station. Thus, demand of recent wireless communication is resolved by this scheme. From the simulation results, the proposed scheme has better performance compared to the conventional scheme in the cellular network.

Keywords: CDD, cellular network, pre-coding, SPC

Procedia PDF Downloads 569

Authors: Carol Anne Hargreaves

Abstract:

A key issue in stock investment is how to select representative features for stock selection. The objective of this paper is to firstly determine whether an automated stock investment system, using machine learning techniques, may be used to identify a portfolio of growth stocks that are highly likely to provide returns better than the stock market index. The second objective is to identify the technical features that best characterize whether a stock’s price is likely to go up and to identify the most important factors and their contribution to predicting the likelihood of the stock price going up. Unsupervised machine learning techniques, such as cluster analysis, were applied to the stock data to identify a cluster of stocks that was likely to go up in price – portfolio 1. Next, the principal component analysis technique was used to select stocks that were rated high on component one and component two – portfolio 2. Thirdly, a supervised machine learning technique, the logistic regression method, was used to select stocks with a high probability of their price going up – portfolio 3. The predictive models were validated with metrics such as, sensitivity (recall), specificity and overall accuracy for all models. All accuracy measures were above 70%. All portfolios outperformed the market by more than eight times. The top three stocks were selected for each of the three stock portfolios and traded in the market for one month. After one month the return for each stock portfolio was computed and compared with the stock market index returns. The returns for all three stock portfolios was 23.87% for the principal component analysis stock portfolio, 11.65% for the logistic regression portfolio and 8.88% for the K-means cluster portfolio while the stock market performance was 0.38%. This study confirms that an automated stock investment system using machine learning techniques can identify top performing stock portfolios that outperform the stock market.

Keywords: machine learning, stock market trading, logistic regression, cluster analysis, factor analysis, decision trees, neural networks, automated stock investment system

Procedia PDF Downloads 157

Authors: L. Srikanth, D. Neelima Satyam

Abstract:

The transmission line towers are one of the important life line structures in the distribution of power from the source to the various places for several purposes. The predominant external loads which act on these towers are wind and earthquake loads. In this present study tower is analyzed using Indian Standards IS: 875:1987 (Wind Load), IS: 802:1995 (Structural Steel), IS:1893:2002 (Earthquake) and dynamic analysis of tower has been performed considering ground motion of 2001 Bhuj Earthquake (India). The dynamic analysis was performed considering a tower system consisting two towers spaced 800m apart and 35m height each. This analysis has been performed using numerical time stepping finite difference method which is central difference method were employed by a developed MATLAB program to get the normalized ground motion parameters includes acceleration, frequency, velocity which are important in designing the tower. The tower is analyzed using response spectrum analysis.

Keywords: response spectra, dynamic analysis, central difference method, transmission tower

Procedia PDF Downloads 398

Authors: Cinthia C. Costa, Heloisa L. Burnquist, Joaquim J. M. Guilhoto

Abstract:

This study identified the impact of special agricultural safeguards (SSG) for the global market of meat and for the Brazilian economy. The tariff lines subject to SSG were selected and the period of analysis was 1995 (when the rules about the SSGs were established) to 2015 (more recent period for which there are notifications). The value of additional tariff was calculated for each of the most important tariff lines. The import volume and the price elasticities for imports were used to estimate the impacts of each additional tariff estimated on imports. Finally, the effect of Brazilian exports of meat without SSG taxes was calculated as well as its impact in the country’s economy by using an input-output matrix. The most important markets that applied SSGs were the U.S. for beef and European Union for poultry. However, the additional tariffs could be estimated in only two of the sixteen years that the U.S. applied SSGs on beef imports, suggesting that its use has been enforced when the average annual price has been higher than the trigger price level. The results indicated that the value of the bovine and poultry meat that could not be exported by Brazil due to SSGs to both markets (EU and the U.S.) was equivalent to BRL 804 million. The impact of this loss in trade was about: BRL 3.7 billion of the economy’s production value (at 2015 prices) and almost BRL 2 billion of the Brazilian Gross Domestic Product (GDP).

Keywords: beef, poultry meat, SSG tariff, input-output matrix, Brazil

Procedia PDF Downloads 121

Authors: Alcardo Alex Barakabitze, Saddam Aziz, Muhammad Zubair

Abstract:

The Orthogonal Frequency Division Multiplexing (OFDM) is a special form of multicarrier transmission that splits the total transmission bandwidth into a number of orthogonal and non-overlapping subcarriers and transmit the collection of bits called symbols in parallel using these subcarriers. In this paper, we explore the Peak to Average Power Reduction (PAPR) problem in OFDM systems. We provide the performance analysis of CCDF and BER through MATLAB simulations.

Keywords: bit error ratio (BER), OFDM, peak to average power reduction (PAPR), sub-carriers

Procedia PDF Downloads 542

Authors: Richard K. Jolley, Jonathan A. Coffman

Abstract:

Since Enterococci has been implicated in oral disease, we hypothesized the transmission of avian Enterococci to humans via fecal-oral transmission facilitated by adherence to dental plaque. To demonstrate the capability of Enterococci to bind to a dental plaque we filtered avian excreta and incubated the filtrate on a sucrose-induced, Streptococcus mutans biofilm. The biofilm was washed several times with a detergent to remove bacteria binding non-specifically to the biofilm, DNA was isolated from the biofilm, 16S rDNA was amplified, sequenced by Ion Torrent DNA sequencing and analyzed with bioinformatics. Enterococci and other known bacterial pathogens were shown to adhere to the biofilm. Culturing the washed biofilm with Bile Esculin Azide (BEA) agar also confirmed the presence of Enterococci as verified with Sanger sequencing. The results suggest that Enteroccoci in avian excreta has the ability to adhere to human dental plaque and may be a mechanism of entry when humans encounter contaminated aerosols, water or food.

Keywords: Enterococci, avian excreta, dental plaque, NGS

Procedia PDF Downloads 160

Authors: Tarah Bouaricha

Abstract:

The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used.

Keywords: study event, natural disasters, insurance, reinsurance, stock market

Procedia PDF Downloads 395

Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

Abstract:

In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index.

Keywords: fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality

Procedia PDF Downloads 470

Authors: Li-hsing Shih, Wei-Jen Hsu

Abstract:

Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

Procedia PDF Downloads 69

Authors: Yu T. Tsai, Jin H. Huang

Abstract:

In this paper, the specific sound transmission loss (TL) of the laminated composite plate (LCP) with different material properties in each layer is investigated. The numerical method to obtain the TL of the LCP is proposed by using elastic plate theory. The transfer matrix approach is novelty presented for computational efficiency in solving the numerous layers of dynamic stiffness matrix (D-matrix) of the LCP. Besides the numerical simulations for calculating the TL of the LCP, the material properties inverse method is presented for the design of a laminated composite plate analogous to a metallic plate with a specified TL. As a result, it demonstrates that the proposed computational algorithm exhibits high efficiency with a small number of iterations for achieving the goal. This method can be effectively employed to design and develop tailor-made materials for various applications.

Keywords: sound transmission loss, laminated composite plate, transfer matrix approach, inverse problem, elastic plate theory, material properties

Procedia PDF Downloads 388

Authors: Gabriele Iannotta

Abstract:

This paper investigates credit cycles by means of an experiment based on a Kiyotaki & Moore (1997) model with heterogeneous expectations. The aim is to examine how a credit squeeze caused by high lender-level risk perceptions affects the real prices of a collateralised asset, with a special focus on the macroeconomic implications of rising price volatility in terms of total welfare and the number of bankruptcies that occur. To do that, a learning-to-forecast experiment (LtFE) has been run where participants are asked to predict the future price of land and then rewarded based on the accuracy of their forecasts. The setting includes one lender and five borrowers in each of the twelve sessions split between six control groups (G1) and six treatment groups (G2). The only difference is that while in G1 the lender always satisfies borrowers’ loan demand (bankruptcies permitting), in G2 he/she closes the entire credit market in case three or more bankruptcies occur in the previous round. Experimental results show that negative risk-driven supply shocks amplify the volatility of collateral prices. This uncertainty worsens the agents’ ability to predict the future value of land and, as a consequence, the number of defaults increases and the total welfare deteriorates.

Keywords: Behavioural Macroeconomics, Credit Cycle, Experimental Economics, Heterogeneous Expectations, Learning-to-Forecast Experiment

Procedia PDF Downloads 125

Authors: Ladaporn Pithuk

Abstract:

This study aims to investigate the marketing mixed factors that affecting on expectations about commercial transactions through social networks. The research method will using quantitative research, data was collected by questionnaires to person have experience access to trading over the internet for 400 sample by purposive sampling method. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and using quality function deployment for hypothesis testing. Finding the most significant interrelationship between marketing mixed factors and commercial transactions expectations through social networks are product and place the relationship of five ties product and place (location) is involved in almost all will make the site a model that meets the needs of the user visit. In terms of price, the promotion, privacy, personalization and providing a process technical. This will make operations more efficient, reduce confusion, duplication, delays in data transmission, including the creation of different elements in products and services.

Keywords: commercial transactions expectations, marketing mixed factors, social networks, consumer behavior

Procedia PDF Downloads 237

Authors: Yan Wang, Yasushi Asami, Yukio Sadahiro

Abstract:

In urban context, urban nodes such as amenity or hazard will certainly affect house price, while classic hedonic analysis will employ distance variables measured from each urban nodes. However, effects from distances to facilities on house prices generally do not represent the true price of the property. Distance variables measured on the same surface are suffering a problem called multicollinearity, which is usually presented as magnitude variance and mean value in regression, errors caused by instability. In this paper, we provided a theoretical framework to identify and gather the data with less bias, and also provided specific sampling method on locating the sample region to avoid the spatial multicollinerity problem in three distance variable’s case.

Keywords: hedonic regression, urban node, distance variables, multicollinerity, collinearity

Procedia PDF Downloads 465

Authors: Andrei-Marius Sandu

Abstract:

This study aims to analyze the bovine meat and milk sector for the period 2007-2013. For the period analyzed, it is known that Romania has benefited from EU funding through the National Rural Development Programme 2007-2013. In this programme, there were measures that addressed exclusively the animal husbandry sector in Romania. This paper presents data on bovine production of meat, milk and livestock in Romania, but also data on the price and impact the European Funds implementation had on them.

Keywords: European funds, measures, national rural development programme, price

Procedia PDF Downloads 422

Authors: Mesbah Tarek, Kelaiaia Samia, Chiheb Sofien, Kelaiaia Mounia Samira, Labar Hocine

Abstract:

Short circuit causes important damage in power systems. The aim of this paper is the investigation of the effect of short circuit at the AC side inverter in HVDC transmission line. The cutoff of HVDC transmission line implies important economic losses. In this paper it is proposed an efficient procedure which can protect and eliminate the fault quickly. The theoretical development and simulation are well detailed and illustrated.

Keywords: AC inverter, HVDC, short circuit, switcher gate, power system

Procedia PDF Downloads 563