Search results for: log-asset return

Authors: Badar Muneer, Waseem Shabir, Faisal Karim Shaikh

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Substrate Integrated waveguide based 6-element array of Planar Inverted F antenna (PIFA) has been presented and analyzed parametrically in this paper. The antenna is fed with coupled transverse slots on a plate laminated waveguide cavity to ensure wide bandwidth and simplicity of feeding network. The two-layer structure has one layer dedicated for feeding network and the top layer dedicated for radiating elements. It has been demonstrated that the presented feeding technique for feeding such class of array antennas can be far simple in structure and miniaturized in size when it comes to designing large phased array antenna systems. A good return loss and standing wave ratio of 2:1 has been achieved while maintaining properties of typical PIFA.

Keywords: feeding network, laminated waveguide, PIFA, transverse slots

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Authors: Jamison Duckworth, Shankarachary Ragi

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Detection and segmentation of wildfire smoke plumes from remote sensing imagery are being pursued as a solution for early fire detection and response. Smoke plume detection can be automated and made robust by the application of artificial intelligence methods. Specifically, in this study, the deep learning approach Mask Region-based Convolutional Neural Network (RCNN) is being proposed to learn smoke patterns across different spectral bands. This method is proposed to separate the smoke regions from the background and return masks placed over the smoke plumes. Multispectral data was acquired using NASA’s Earthdata and WorldView and services and satellite imagery. Due to the use of multispectral bands along with the three visual bands, we show that Mask R-CNN can be applied to distinguish smoke plumes from clouds and other landscape features that resemble smoke.

Keywords: deep learning, mask-RCNN, smoke plumes, spectral bands

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Authors: Maulik Parmar, Sumeet Sandhu

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The online fashion industry experiences high product return rates. Many returns are because of size/fit mismatches -the size scale on labels can vary across brands, the size parameters may not capture all fit measurements, or the product may have manufacturing defects. Warehouse quality check of garment sizes can be semi-automated to improve speed and accuracy. This paper presents an approach for automatically measuring garment sizes from a single image of the garment -using Deep Learning to learn garment keypoints. The paper focuses on the waist size measurement of jeans and can be easily extended to other garment types and measurements. Experimental results show that this approach can greatly improve the speed and accuracy of today’s manual measurement process.

Keywords: convolutional neural networks, deep learning, distortion, garment measurements, image warping, keypoints

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Authors: Uche A. Ibekwe

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Pension funds are pooled assets which are established to provide income for retirees. The funds are usually regulated to check excessive risk taking by fund managers. In Nigeria, the current defined contribution (DC) pension scheme appears to contain some overly stringent restrictions which might be hampering its successful implementation. Notable among these restrictions is the 25 percent maximum limit on investment in ordinary shares of quoted companies. This paper examines the extent to which these restrictions affect pension replacement rates at retirement. The study made use of both simulated and historical asset return distributions using mean-variance, regression analysis and ruin-risk analyses, the study found that the current equity investment restriction policy in Nigeria reduces replacement rates at retirement.

Keywords: equity investment, replacement rates, restrictions, ruin-risk

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Authors: Charles Mothobiso

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This study attempts to identify the client’s main priority when delivering green projects. The aim is to compare whether clients’ interests are similar when delivering conventional buildings as compared to green buildings. Private clients invest more in green buildings as compared to government and parastatal entities. Private clients prioritize on maximizing a return on investment and they mainly invest in energy-saving buildings that have low life cycle costs. Private clients are perceived to be more knowledgeable about the benefits of green building projects as compared to government and parastatal clients. A shortage of expertise and managerial skill leads to the low adaptation of green buildings in government and parastatal projects. Other factors that seem to prevent the adoption of green buildings are the preparedness of the supply chain within the industry and inappropriate procurement strategies adopted by clients.

Keywords: construction clients, design team, green buildings, procurement

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Authors: Jyothirmayee Pola

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Ideally, a test-driven development (TDD) or agile or any other process should be able to define and implement performance, scalability, and reliability (PSR) of the product with a higher quality of service (QOS) and should have the ability to fix any PSR issues with lesser cost before it hits the production. Most PSR test strategies for new product introduction (NPI) include assumptions about production load requirements but never accurate. NPE (New product Enhancement) include assumptions for new features that are being developed whilst workload distribution for older features can be derived by analyzing production transactions. This paper talks about how to shift left PSR towards design phase of release management process to get better QOS w.r.t PSR for any product under development. It also explains the ROI for future customer onboarding both for Service Oriented Architectures (SOA) and Microservices architectures and how to define PSR requirements.

Keywords: component PSR, performance engineering, performance tuning, reliability, return on investment, scalability, system PSR

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Authors: G. Bruno, A. Ciavarella, N. Linciano

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The proportion of women in boardroom has traditionally been low around the world. Over the last decades, several jurisdictions opted for active intervention, which triggered a tangible progress in female representation. In Europe, many countries have implemented boardroom diversity policies in the form of legal quotas (Norway, Italy, France, Germany) or governance code amendments (United Kingdom, Finland). Policy actions rest, among other things, on the assumption that gender balanced boards result in improved corporate governance and performance. The investigation of the relationship between female boardroom representation and firm value is therefore key on policy grounds. The evidence gathered so far, however, has not produced conclusive results also because empirical studies on the impact of voluntary female board representation had to tackle with endogeneity, due to either differences in unobservable characteristics across firms that may affect their gender policies and governance choices, or potential reverse causality. In this paper, we study the relationship between the presence of female directors and corporate performance in Italy, where the Law 120/2011 envisaging mandatory quotas has introduced an exogenous shock in board composition which may enable to overcome reverse causality. Our sample comprises Italian firms listed on the Italian Stock Exchange and the members of their board of directors over the period 2008-2016. The study relies on two different databases, both drawn from CONSOB, referring respectively to directors and companies’ characteristics. On methodological grounds, information on directors is treated at the individual level, by matching each company with its directors every year. This allows identifying all time-invariant, possibly correlated, elements of latent heterogeneity that vary across firms and board members, such as the firm immaterial assets and the directors’ skills and commitment. Moreover, we estimate dynamic panel data specifications, so accommodating non-instantaneous adjustments of firm performance and gender diversity to institutional and economic changes. In all cases, robust inference is carried out taking into account the bidimensional clustering of observations over companies and over directors. The study shows the existence of a U-shaped impact of the percentage of women in the boardroom on profitability, as measured by Return On Equity (ROE) and Return On Assets. Female representation yields a positive impact when it exceeds a certain threshold, ranging between about 18% and 21% of the board members, depending on the specification. Given the average board size, i.e., around ten members over the time period considered, this would imply that a significant effect of gender diversity on corporate performance starts to emerge when at least two women hold a seat. This evidence supports the idea underpinning the critical mass theory, i.e., the hypothesis that women may influence.

Keywords: gender diversity, quotas, firms performance, corporate governance

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Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak

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Successful achievement of strategic goals requires an effective performance management system, i.e. determining the appropriate indicators measuring the rate of goal achievement. Assuming that the goal of the owners is to grow the assets they invested in, it is vital to identify the key performance indicators, which contribute to value creation. These indicators are known as value drivers. Based on the undertaken literature search, a value driver is defined as any factor that affects the value of an enterprise. The important factors are then monitored by both financial and non-financial indicators. Financial performance indicators are most useful in strategic management, since they indicate whether a company's strategy implementation and execution are contributing to bottom line improvement. Non-financial indicators are mainly used for short-term decisions. The identification of value drivers, however, is problematic for companies which are not publicly traded. Therefore financial ratios continue to be used to measure the performance of companies, despite their considerable criticism. The main drawback of such indicators is the fact that they are calculated based on accounting data, while accounting rules may differ considerably across different environments. For successful enterprise performance management it is vital to avoid factors that may reduce (or even destroy) its value. Among the known factors reducing the enterprise value are the lack of capital, lack of strategic management system and poor quality of production. In order to gain further insight into the topic, the paper presents results of the research identifying factors that adversely affect the performance of mechanical engineering enterprises in the Czech Republic. The research methodology focuses on both the qualitative and the quantitative aspect of the topic. The qualitative data were obtained from a questionnaire survey of the enterprises senior management, while the quantitative financial data were obtained from the Analysis Major Database for European Sources (AMADEUS). The questionnaire prompted managers to list factors which negatively affect business performance of their enterprises. The range of potential factors was based on a secondary research – analysis of previously undertaken questionnaire surveys and research of studies published in the scientific literature. The results of the survey were evaluated both in general, by average scores, and by detailed sub-analyses of additional criteria. These include the company specific characteristics, such as its size and ownership structure. The evaluation also included a comparison of the managers’ opinions and the performance of their enterprises – measured by return on equity and return on assets ratios. The comparisons were tested by a series of non-parametric tests of statistical significance. The results of the analyses show that the factors most detrimental to the enterprise performance include the incompetence of responsible employees and the disregard to the customers‘ requirements.

Keywords: business value, financial ratios, performance measurement, value drivers

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Authors: M. Naimur Rahman, Mohammad Tariqul Islam, Mandeep Singh Jit Singh, Norbahiah Misran

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This paper presents the architecture and exploration of a compact, circulated double Psi-shaped microstrip patch antenna for Ku-band satellite applications. The antenna is composed of the double Psi-shaped patch in opposite focus which is circulated with a ring. The antenna size is 24 mm × 18 mm and the prototype is imprinted on Rogers RT/duroid 5880 materials with the depth of 1.57 mm. The substrate has a relative permittivity of 2.2 and the dielectric constant of 0.0009. The excitation is supplied through a 50Ω microstrip line. The performance of the presented antenna has been simulated and verified with the High-Frequency Structural Simulator (HFSS). The results depict that the antenna covers the frequency spectrum 14.6 - 17.4 GHz (Ku-band) with 10 dB return loss. The antenna has a 4.40 dBi maximum gain with stable radiation patterns throughout the operating band which makes the proposed antenna compatible for the satellite application in Ku-band.

Keywords: Ku-band antenna, microstrip antenna, psi-shaped antenna, satellite applications

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Authors: Hammad Riaz, Abubakr Saeed

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Environmental Management System (EMS), i.e., ISO 14001 helps to build corporate reputation, legitimacy and can also be considered as firms’ strategic response to institutional pressure to reduce the impact of business activity on natural environment. The financial outcomes of certifying with ISO 14001 are still unclear and equivocal. Drawing on institutional and market learning theories, the impact of ISO 14001 on firms’ market performance is examined for Chinese firms. By employing rigorous event study approach, this paper compared ISO 14001 certified firms with non-certified counterpart firms based on different matching criteria that include size, return on assets and industry. The results indicate that the ISO 14001 has been negatively signed by the investors both in the short and long-run. This paper suggested implications for policy makers, managers, and other nonprofit organizations.

Keywords: ISO 14001, legitimacy, institutional forces, event study approach, emerging markets

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Authors: Mehdi Fuladipanah, Mehdi Jorabloo

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Water flow management is one of the most important parts of river engineering. Non-uniformity distribution of rainfall and various flow demand with unreasonable flow management will be caused destroyed of the river ecosystem. Then, it is severe to determine ecosystem flow requirement. In this paper, Flow duration curve indices method which has hydrological based was used to evaluate environmental flow in Gharasou River, Ardabil, Iran. Using flow duration curve, Q90 and Q95 for different return periods were calculated. Their magnitude was determined as 1-day, 3-day, 7-day, and 30 days. According to the second method, hydraulic alteration indices often had low and medium range. To maintain river at an acceptable ecological condition, minimum daily discharge of index Q95 is 0.7 m^3.s^-1.

Keywords: Gharasou River, water flow management, non-uniformity distribution, ecosystem flow requirement, hydraulic alteration

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Authors: Stephen Miller

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The act of applying game mechanics and dynamics (which have been traditionally used in video games) into business applications is being widely trialed in an effort to make conventional business software a bit more participative, fun and engaging. This new trend, named ‘gamification’ has its believers and of course, its critics who still need convincing that the concept is an effective and beneficial business tool worthy of investment. The literature reveals that user engagement of business intelligence (BI) tools is much lower than expected and investors are failing to get a good return on their investment (ROI). So, a software prototype will be designed and developed to add gamification to a BI tool to determine its effect upon the user engagement levels of test participants. The experimental study will be evaluated using the comprehensive User Engagement Scale (UES) to see if there are improvements in areas such as; aesthetics, perceived usability, endurability, novelty, felt involvement and focused attention. The results of this unique study should demonstrate whether or not ‘gamifying’ a BI tool has the potential to increase an individual’s motivation to use BI software more often.

Keywords: business intelligence, gamification, human computer interaction, user engagement

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Authors: Ilona Krone

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Maternal smoking during pregnancy increases the risk of perinatal/postnatal negative health outcomes; however, only 1 in 5 pregnant smokers quit smoking. That is a clinical and public health problem. Pregnant smokers have negative paternal support, and higher levels of perceived stress than non-smokers and quitters return to smoking in a stressful situation. A crisis like the COVID-19 outbreak causes significant uncertainty and stress. For pregnant women, additional stress may increase due to concerns for their fetus. Strategies targeting maternal stress and isolation may be particularly useful to prevent negative outcomes for women and their fetuses. Within the post-doctoral study, cooperating with leading specialists, an innovative program for pregnant smokers will be developed. Feasibility for reducing craving, distress intolerance, Covid 19 related stress, and fear in pregnant women in Latvia will be assessed.

Keywords: COVID 19, mindfulness, motivation, pregnancy, smoking cessation

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Authors: S. M. A. Ismail, M. I. Ibrahim, H. Masdar, F. M. Effendi, M. F. Suhaimi, A. Suun

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Introduction: It is generally known that the rehabilitation process is as important as the reconstruction surgery. Several literature has focused on how early the rehabilitation modalities can be initiated after the surgery to ensure a safe return of patients to sports or at least regaining the pre-injury level of function following an ACL reconstruction. Objectives: The main objective is to study and evaluate the outcome of early balance exercises and agility training in sports rehabilitation for patients post ACL reconstruction. To compare between early balance exercises and agility training as intervention and control. (material or non-material). All of them were recruited for material exercise (balance exercises and agility training with strengthening) and strengthening only rehabilitation protocol (non-material). Followed the prospective intervention trial. Materials and Methods: Post-operative ACL reconstruction patients performed in Selayang and Sg Buloh Hospitals from 2012 to 2014 were selected for this study. They were taken from Malaysian Knee Ligament Registry (MKLR) and all patients had single bundle reconstruction with autograft hamstring tendon (semitendinosus and gracilis). ACL injury from any type of sports were included. Subjects performed various type of physical activity for rehabilitation in every 18 week for a different type of rehab activity. All subject attended all 18 sessions of rehabilitation exercises and evaluation was done during the first, 9th and 18th session. Evaluation format were based on clinical assessment (anterior drawer, Lachmann, pivot shift, laxity with rolimeter, the end point and thigh circumference) and scoring (Lysholm Knee scoring and Tegner Activity Level scale). Rehabilitation protocol initiated from 24 week after the surgery. Evaluation format were based on clinical assessment (anterior drawer, Lachmann, pivot shift, laxity with rolimeter, the end point and thigh circumference) and scoring (Lysholm Knee scoring and Tegner Activity Level scale). Results and Discussion: 100 patients were selected of which 94 patients are male and 6 female. Age range is 18 to 54 year with the average of 28 years old for included 100 patients. All patients are evaluated after 24 week after the surgery. 50 of them were recruited for material exercise (balance exercises and agility training with strengthening) and 50 for strengthening only rehabilitation protocol (non-material). Demographically showed 85% suffering sports injury mainly from futsal and football. 39 % of them have abnormal BMI (26 – 38) and involving of the left knee. 100% of patient had the basic radiographic x-ray of knee and 98% had MRI. All patients had negative anterior drawer’s, Lachman test and Pivot shift test during the post ACL reconstruction after the complete rehabilitation. There was 95 subject sustained grade I injury, 5 of grade II and 0 of grade III with 90% of them had soft end-point. Overall they scored badly on presentation with 53% of Lysholm score (poor) and Tegner activity score level 3/10. After completing 9 weeks of exercises, of material group 90% had grade I laxity, 75% with firm end-point, Lysholm score 71% (fair) and Tegner activity level 5/10 comparing non-material group who had 62% of grade I laxity , 54% of firm end-point, Lyhslom score 62 % (poor) and Tegner activity level 4/10. After completed 18 weeks of exercises, of material group maintained 90% grade I laxity with 100 % with firm end-point, Lysholm score increase 91% (excellent) and Tegner activity level 7/10 comparing non-material group who had 69% of grade I laxity but maintained 54% of firm end-point, Lysholm score 76% (fair) and Tegner activity level 5/10. These showed the improvement were achieved fast on material group who have achieved satisfactory level after 9th cycle of exercises 75% (15/20) comparing non-material group who only achieved 54% (7/13) after completed 18th session. Most of them were grade I. These concepts are consolidated into our approach to prepare patients for return to play including field testing and maintenance training. Conclusions: The basic approach in ACL rehabilitation is to ensure return to sports at post-operative 6 month. Grade I and II laxity has favourable and early satisfactory outcome base on clinical assessment and Lysholm and Tegner scoring point. Reduction of laxity grading indicates satisfactory outcome. Firm end-point showed the adequacy of rehabilitation before starting previous sports game. Material exercise (balance exercises and agility training with strengthening) were beneficial and reliable in order to achieve favourable and early satisfactory outcome comparing strengthening only (non-material).We have identified that rehabilitation protocol varies between different patients. Therefore future post ACL reconstruction rehabilitation guidelines should look into focusing on rehabilitation techniques instead of time.

Keywords: post anterior cruciate ligament (ACL) reconstruction, single bundle, hamstring tendon, sports rehabilitation, balance exercises, agility balance

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Authors: D. Pogliana, A. Maso, N. Milani, D. Panzin, S. Rivaroli, J. Konin

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This case aims to identify the role of movement quality during the final stage of return to sport (RTS) in a male amateur football player 13 years old after passing the acute phase of the bilateral Osgood-Schlatter disease (OSD). The patient, after a year from passing the acute phase of OSD with the abstention of physical activity, reports bilateral anterior knee pain at the beginning of the football sport activity. Interventions: After the orthopedist check, who recommended physiotherapy sessions for the correction of motor patterns and the isometric reinforcement of the muscles of the quadriceps, the rehabilitation intervention was developed in 7 weeks through 14 sessions of neuro-motor training (NMT) with a frequency of two weekly sessions and six sessions of muscle-strengthening with a frequency of one weekly session. The sessions of NMT were carried out through free body exercises (or with overloads) with visual bio-feedback with the help of two cameras (one with anterior vision and one with lateral vision of the subject) and a big touch screen. The aim of these sessions of NMT was to modify the dysfunctional motor patterns evaluated by the 2D motion analysis test. The test was carried out at the beginning and at the end of the rehabilitation course and included five movements: single-leg squat (SLS), drop jump (DJ), single-leg hop (SLH), lateral shuffle (LS), and change of direction (COD). Each of these movements was evaluated through the video analysis of dynamic valgus knee, pelvic tilt, trunk control, shock absorption, and motor strategy. A free image analysis software (Kinovea) was then used to calculate scores. Results: Baseline assessment of the subject showed a total score of 59% on the right limb and 64% on the left limb (considering an optimal score above 85%) with large deficits in shock absorption capabilities, the presence of dynamic valgus knee, and dysfunctional motor strategies defined “quadriceps dominant.” After six weeks of training, the subject achieved a total score of 80% on the right limb and 86% on the left limb, with significant improvements in shock absorption capabilities, the presence of dynamic knee valgus, and the employment of more hip-oriented motor strategies on both lower limbs. The improvements shown in dynamic knee valgus, greater hip-oriented motor strategies, and improved shock absorption identified through six weeks of the NMT program can help a teenager amateur football player to manage the anterior knee pain during sports activity. In conclusion, NMT was a good choice to help a 13 years old male amateur football player to return to performance without pain after OSD and can also be used with all this type of athletes of the other teams' sports.

Keywords: movement analysis, neuro-motor training, knee pain, movement strategies

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Authors: C. Elavarasi, T. Shanmuganantham

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A coplanar waveguide (CPW) feed is presented, and comprising a split ring resonator (SRR) loaded fractal with water lily shape is used for multi band applications. The impedance matching of the antenna is determined by the number of Koch curve fractal unit cells. The antenna is designed on a FR4 substrate with a permittivity of ε_{r =} 4.4 and size of 14 x 16 x 1.6 mm³ to generate multi resonant mode at 3.8 GHz covering S band, 8.68 GHz at X band, 13.96 GHz at Ku band, and 19.74 GHz at K band with reflection coefficient better than -10 dB. Simulation results show that the antenna exhibits the desired voltage standing wave ratio (VSWR) level and radiation patterns across the wide frequency range. The fundamental parameters of the antenna such as return loss, VSWR, good radiation pattern with reasonable gain across the operating bands are obtained.

Keywords: fractal, metamaterial, split ring resonator, waterlily shape

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Authors: Umesh Kumar, Arun Kumar Shukla, B. V. V. Ravindra Babu

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The paper presents a compact tri band Curved U-Slot patch antenna with improved bandwidth and isolation characteristics. The proposed antenna excited by coaxial feed resonates at tri band of 2.8 GHz, 4.1 GHz and 5.7 GHz for VSWR ≤ 1.5 with an improved bandwidth of 99.7% and also for getting high gain antenna of 11.31 dB. A 2×2 MIMO is developed using the proposed antenna giving an excellent isolation of 28 dB between the two antennas. The simulation results of return loss, Mutual Coupling, Gain, VSWR, Surface Current Distribution and Electrical Distribution are presented. By keeping the substrate thickness constant over various dielectric constants, simulations were carried out using MATLAB® and HFSS (High Frequency Structure Simulator) software.

Keywords: performance analysis, curved U-slot patch, antenna with enhanced bandwidth, isolation for mimo systems

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Authors: Ahmet Diken, Tahsin Karabulut

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The factor which developing countries are in need is capital. Such countries make an effort to increase their income in order to meet their expenses for employment, infrastructure, superstructure investments, education, health and defense. The sole income of the countries is taxes collected from businesses. The businesses should drive profit and return in order to be able to toll. In a world where competition exists, different strategies may be followed by business in developing countries and they must specify their target markets. İn order to minimize cost and maximize profit, SMEs have to concentrate on target markets and select cost oriented strategy. In this study, a theoretical model is suggested that SME firms have to act as cluster between each other, and also must be optimal provider for large scale firms. SMEs’ policy must be supported by public. This relationship can benefit large scale firms to have brand over the world, and this organization increases value added for developing countries.

Keywords: competitiveness, countries, SMEs developing, sustainability

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Authors: Delia Enyedi

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Throughout film history, the regular return of 3D cinema has been discussed in connection to crises caused by the advent of television or the competition of the Internet. In addition, the three waves of stereoscopic 3D (from 1952 up to 1983) and its current digital version have been blamed for adding a challenging technical distraction to the viewing experience. By discussing the films Dial M for Murder (1954) and Goodbye to Language (2014), the paper aims to analyze the response of recognized auteurs to the use of 3D techniques in filmmaking. For Alfred Hitchcock, the solution to attaining perceptual immersion paradoxically resided in restraining the signature effect of 3D, namely protrusion. In Jean-Luc Godard’s vision, 3D techniques allowed him to explore perceptual absorption by means of depth of field, for which he had long advocated as being central to cinema. Thus, both directors contribute to the foundation of an auteur aesthetic in 3D filmmaking.

Keywords: Alfred Hitchcock, authorship, 3D filmmaking, Jean-Luc Godard, perceptual absorption, perceptual immersion

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Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

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Authors: Hannes Koester

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Driven by difficult market conditions and increasing regulations, many banks are making the strategic decision to restructure their portfolio by divesting several business segments. Using a unique dataset of 727 portfolio restructuring announcements by 161 international listed banks over the period 1999 to 2015, we investigate the impact of restructuring measurements on the stock performance as well as on the banks’ profitability and risk. Employing the event study methodology, we detect positive stock market reactions on the announcement of restructuring measurements. These positive stock market reactions indicate that shareholders reward banks’ specialization activities. However, the results of the system GMM regressions show a negative relation between restructuring measurements and banks’ return on assets and a positive relation towards the individual and systemic risk of banks. These empirical results indicate that there is no guarantee that portfolio restructurings will result in a more profitable and less risky institution.

Keywords: bank performance, bank risk, divestiture, restructuring, systemic risk

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Authors: Inderpreet Kaur, Sukhjit Kaur, Balwinder Singh Sohi

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The design proposed in this paper mainly focuses on implementation of a single feed compact rectangular microstrip patch antenna (MSA) for single band application. The antenna presented here also works in dual band but its best performance has been obtained when optimised to work in single band mode. In this paper, a new feeding structure is applied in the patch antenna design to overcome undesirable features of the earlier multilayer feeding structures while maintaining their interesting features.To make the proposed antenna more efficient the optimization of the antenna design parameters have been done using HFSS’s optometric. For the proposed antenna one resonant frequency has been obtained at 6.03GHz, with Bandwidth of 167MHz and return loss of -33.82db. The characteristics of the designed structure are investigated by using FEM based electromagnetic solver.

Keywords: bandwidth, retun loss, parasitic lines, microstrip antenna

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Miang Hong Ngerng, Noor Diyana Jasme, May Jin Theong

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Volatile market environment is inevitable. Fund managers are struggling to choose the right strategy to survive and overcome uncertainties and adverse market movement. Therefore, finding certainty in the mist of uncertainty future is one of the key performance objectives for fund managers. Current available theoretical results are not practical due to strong reliance on the investment assumption made. This paper is to identify the component that can be forecasted in Ex-ante setting which is the realistic situation facing a fund manager in the actual execution of asset allocation in portfolio management. Partial lease square method was used to generate an index with 10 years accounting data from 191 companies listed in KLSE. The result shows that the index reflects the inner nature of the business and up to 30% of the stock return can be explained by the index.

Keywords: active portfolio management, asset allocation ex-ante investment, asset class, partial lease square

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Authors: Salisu Adamu Abdullahi, Yusuf Abdullahi Manu

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Nigeria returned to a democratically elected government on May 29, 1999. This signaled the beginning of the journey into the Fourth Republic. The return has received popular endorsement by the electorates as the level of enthusiasm was high due to the yearnings and expectations by the electorate that democracy will bring about the much-desired change required by the general mass. As democracy would allow for popular participation through periodic elections and so on. The paper examines democracy, leadership, and challenges of good governance in Nigerias Fourth Republic. It utilizes secondary source of data and content analysis as a methodology. It argues that Nigerias practice of democracy over the years is marred by flagrant abuse of the principles of good governance by the ruling elite. This has posed threats to the survival of democracy due to non-adherence to one of the cardinal principles of democracy which is good governance. The paper recommends among others that the anti-corruption law is amended in such a way that death penalties be issued to those found wanting by the law.

Keywords: democracy, democratic consolidation, challenges, good governance

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Authors: Katherine Denise Queri

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Around the world, there are many corporations and other business organizations who promote the welfare of the society. They are found inside the communities where they naturally perform work. Their aim is to maximize their respective returns on investment while measuring the impact of their activities on the environment. The Senate in the Philippines formed a bill that seeks to foster sustainable economic and environment development and environment protection, among other things, by institutionalizing the corporate responsibility of corporations, whether domestic and foreign, partnership and other establishment performing business in the country. Under the Senate Bill 1239 or an act institutionalizing corporate social responsibility, providing incentives therefor, and for other purposes, all business organizations are mandated to consider the interest of society by taking responsibility for the impact of their activities on customers, employees, shareholders communities and environment. In return, businesses shall comply with the mandate of this proposed measure shall be entitled to full deductions of the expenses incurred in connection thereto.

Keywords: ateneo, corporate social responsibility (CSR), industrial relations, marketing, up

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Authors: Wen Jiayuan

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This article traces the broadening of the refugee definition from the early 1970s onwards. It first discusses Article 1A(1), the core universal legal definition of ‘refugee’ provided by the 1951 Geneva Convention. It then focuses on Article 1A(2), read together with the 1967 Protocol, which without time or geographical limits, offers a general definition of the refugee as including any person who is outside their country or origin and unable or unwilling to return there or to avail themselves of its protection, owing to a well-founded fear of persecution for reasons of race, religion, nationality, social group or political opinion. It then shifts to the contemporary alternative refugee definitions adopted in regional areas, namely Africa, Latin America, and Europe. By looking deeply into the 1969 OAU Convention, the 1984 Cartagena Declaration, and ECtHR, the assertation is that while the appearance of new definitions may lead to a more responsive international environment, it may also undermine the consistency of the international refugee regime.

Keywords: refugee definition, 1951 Geneva Convention, 1969 OAU Convention, 1984 Cartagena Declaration

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Authors: Marco Correa

Abstract:

The increasing reduction of the volumes of surface water sources supplying most municipalities, as well as the rising demand for treated water, combined with the disposal of effluents from washing of decanters and filters of water treatment plants generates a continuous search for correct environmentally solutions to these problems. The effluents generated by the water treatment industry need to be suitably processed for return to the environment or re-use. This article shows alternatives for sludge dehydration from the water treatment plants (WTP) and eventual disposal of sludge drained. Using the simple design methodology, it is presented a case study for drainage in tanks geotextile, full-scale, which involve five sledge drainage tanks from WTP of the city of Rio Verde. Aiming to the reutilization of drained water from the sledge and enabling its reuse both at the beginning of the treatment process at the WTP and in less noble services as for watering the gardens of the local town hall. The sludge will be used to in the production of building materials.

Keywords: dehydration, effluent discharges, re-use, sludge, WTP sludge

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Authors: Aymen Gammoudi, Hamza Labbaci, Nizar Messai, Yacine Sam

Abstract:

Web Service Composition (Mash-up) has been considered as a new approach used to offer the user a set of Web Services responding to his request. These approaches can return a set of similar Mash-ups in a given context that makes users unable to select the perfect one. Recent approaches focus on computing the skyline over a set of Quality of Service (QoS) attributes. However, these approaches are not sufficient in a dynamic web service environment where the delivered QoS by a Web service is inherently uncertain. In this paper, we treat the problem of computing the skyline over a set of similar Mash-ups under certain dimension values. We generate dimensions for each Mash-up using aggregation operations applied to the QoS attributes. We then tackle the problem of computing the skyline under uncertain dimensions. We present each dimension value of mash-up using a frame of discernment and introduce the d-dominance using the Evidence Theory. Finally, we propose our experimental results that show both the effectiveness of the introduced skyline extensions and the efficiency of the proposed approaches.

Keywords: web services, uncertain QoS, mash-ups, uncertain dimensions, skyline, evidence theory, d-dominance

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Authors: Lucille Lok-Sun Ngan

Abstract:

There are significant gaps in both the migration and family literatures regarding the gendered parenting of Chinese migrants. Evidence from the literature informs us that the child-focused parenting style of the West has altered, with positive consequences, parent–child relationships in migrant families. In particular, second-generation migrants have developed hybrid identities distinct from those of their overseas-born parents and the locals. On returning to their place of origin, they may undergo yet another process of change in values, and in behaviour, in order to adapt to the local culture. As migration changes values, personality and practice at personal, interpersonal and familial levels, the cross-cultural experiences of returnees inevitably affect their own fatherhood journeys in their country of origin. This paper reviews current literature on fatherhood and migration and identifies the gaps and limitations that pertain to understanding the paternal experiences of Chinese return migrants.

Keywords: Chinese returnees, cross-cultural experiences, fatherhood, hybridity, migration

Procedia PDF Downloads 375