Search results for: abnormal returns

Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian

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Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost in a timely manner. In such cases, refinancing could be a solution to benefit from the long-term returns of the project if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. To fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help implementing financially viable energy efficiency projects, so the community could benefit from their environmental advantages widely.

Keywords: energy efficiency projects, leveraged loan, refinancing, sustainability

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Authors: Alpesh Adeshara, Rajendrasinh Jadeja, Praghnesh Bhatt

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Implementation of advanced technologies requires sophisticated instruments that deal with the operation, control, restoration and protection of rapidly growing power system network under normal and abnormal conditions. Presently, the applications of Phasor Measurement Unit (PMU) are widely found in real time operation, monitoring, controlling and analysis of power system network as it eliminates the various limitations of Supervisory Control and Data Acquisition System (SCADA) conventionally used in power system. The use of PMU data is very rapidly increasing its importance for online and offline analysis. Wide Area Measurement System (WAMS) is developed as new technology by use of multiple PMUs in power system. The present paper proposes a model of MATLAB based PMU using Discrete Fourier Transform (DFT) algorithm and evaluation of its operation under different contingencies. In this paper, PMU based two bus system having WAMS network is presented as a case study.

Keywords: GPS global positioning system, PMU phasor measurement system, WAMS wide area monitoring system, DFT, PDC

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Authors: Rajnish Gupta, R. S. Gupta

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Present research was aimed to investigate antidiabetic and antioxidant status of Lupeol in streptozotocin induced diabetes. Rats were divided into following groups mainly: control, diabetic, normal group as well as diabetic treated with Lupeol at 25 and 35 mg/kg b.wt./day for 21 days, diabetic group treated with glibenclamide. Tissue (pancreas, kidney and liver) as well as serum biochemical parameters were analysed for any abnormal behavior. Lupeol administration reduced diabetes onset with significant improvement in serum insulin level also strengthened by increase in β-Cell counts. A significant decrease was observed in serum glucose level. Furthermore, Lupeol treatment increased the antioxidant enzymes, glycolytic enzymes and also protein levels with a decrease in the level of thiobarbituric acid-reactive oxygen species and gluconeogenic enzymes. Present study proves that Lupeol administration significantly reinstated serum and tissue biochemical parameters and thus strengthening its antidiabetic potential.

Keywords: oxidative stress, pterostilbene, thiobarbituric acid, reactive oxygen species

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Authors: Maciej Dudek, Robert Kruszewski, Janusz Kudla, Konrad Walczyk

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In this paper, we study how taxation of bequests affects human capital formation in the long term and short term horizon. Our underlying model is an overlapping generation model (OLG) with some degree of altruism on the part of the ancestors' generation towards their descendants. We ask the question in three separate frameworks. First, we study a simple one-sector model where a proxy of human capital is wage income. It the steady-state -for CRRA utility function and human capital produced with non-decreasing returns -the taxation of bequests is neutral to the accumulation of human capital. In the second framework, neutrality applies to the growth rates of human capital, physical capital, and consumption. In this case, taxation increases the level of bequests, leading to a lower value of current consumption. Finally in we consider two periods model instead of infinite horizon model as long as the tax revenue is at least partially rebated back to the public, the fraction of human capital engaged in the process of formation of human capital increases with the tax rate on bequests. In other words, taxation of bequests is partially offset by an increase in human capital formation. Higher human capital allows the future generation to earn higher wages, and today's generation can find it optimal to endow the future generation with more human capital when taxation is imposed on physical capital transferred to the next generation.

Keywords: taxation, bequests, policy, human capital

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Authors: Mengmeng Zhang, Honghui Chen, Kalle Lyytinen

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The major challenges for sustainable business-IT alignment (BITA) in a company root in its volatile external competitive environment, increasingly complex internal relationships, and subversive IT roles. Failure to adequately address BITA results in wasting organizational resources, losing competitive advantages, and failing to produce adequate returns on investments. The coevolution is more suitable to describe the dynamic relationships of business and IT and has received certain attention in recent years. Multiple mechanisms for achieving BITC (e.g., sharing domain knowledge, modular design) were obtained. However, instead of a complete managing process, BITC achievement is still hard to operate in practice. This study emphasizes what the BITC management process looks like and how to execute this coevolution step-by-step. A practical coevolutionary framework that combines the enterprise architecture (EA) method with misalignment analysis is proposed in this paper. It contains steps of EA design, misalignment detection, misalignment correction, and EA management /misalignment prevention. The step of misalignment correction is especially discussed at length. This study also evaluates the proposed framework by comparing the characteristics, principles, and approaches of coevolution in the literature.

Keywords: business-IT alignment, business-IT coevolution, enterprise architecture, misalignment analysis, misalignment correction

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Authors: Roman Asatryan

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The decision-making processes in Corporate Social Responsibility (CSR) among firms in general and airlines in particular have to do with the benefits that accrue through those investments. The crux of the matter is not whether to invest in CSR or not, but rather, how firms can quantify the benefits derived from such investments. This paper analyzes the cost benefit adjustment strategies for firms in the airline industry in their CSR strategy adoption and implementation. The adjustment strategies identified will enable firms in the airline industry to have a basis for determining the worth of such CSR investments. This paper discusses the cost and benefit analysis model in order to understand the ways airlines can reduce costs and increase returns on CSR, or balance the cost and benefits. The analysis from this study points to the fact that economic concepts especially the CBA are useful, though they are not without challenges. The challenge arises when it is problematic to express the real impact of the externality in monetary terms. The use of rational maximization of the gains may seem to be a rather optimistic goal mainly because of environmental variability, perceptual uncertainty, and imperfect knowledge about the potential externality. This paper concludes that the CBA model gives a basic understanding of the motivations for investing in intangible assets like CSR. Consequently, it sets the tone for formulating relevant hypothesis in empirical studies in investment in CSR in particular and other intangible assets in business operations.

Keywords: cost-benefit analysis, corporate social responsibility, airline industry

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Authors: Nini Johana Marin Rodriguez

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This paper applies DCC, EWMA and OGARCH models to compare the dynamic correlations between exchange rates, oil prices, exchange rates and stock markets to examine the time-varying conditional correlations to the daily oil prices and index returns in relation to the US dollar/local currency for developed (Canada and Mexico) and emerging Latin American markets (Brazil, Chile, Colombia and Peru). Changes in correlation interactions are indicative of structural changes in market linkages with implications to contagion and interdependence. For each pair of stock price-exchange rate and oil price-US dollar/local currency, empirical evidence confirms of a strengthening negative correlation in the last decade. Methodologies suggest only two events have significatively impact in the countries analyzed: global financial crisis and Europe crisis, both events are associated with shifts of correlations to stronger negative level for most of the pairs analyzed. While, the first event has a shifting effect on mainly emerging members, the latter affects developed members. The identification of these relationships provides benefits in risk diversification and inflation targeting.

Keywords: crude oil, dynamic conditional correlation, exchange rates, interdependence, stock prices

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Authors: Jun Wang, Ge Zhang

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Machine learning has been used in many areas today. It thrives at reviewing large volumes of data and identifying patterns and trends that might not be apparent to a human. Given the huge potential benefit and the amount of data available in the financial market, it is not surprising to see machine learning applied to various financial products. While future prices of financial securities are extremely difficult to forecast, we study them from a different angle. Instead of trying to forecast future prices, we apply machine learning algorithms to predict the direction of future price movement, in particular, whether a sector Exchange Traded Fund (ETF) would outperform or underperform the market in the next week or in the next month. We apply several machine learning algorithms for this prediction. The algorithms are Linear Discriminant Analysis (LDA), k-Nearest Neighbors (KNN), Decision Tree (DT), Gaussian Naive Bayes (GNB), and Neural Networks (NN). We show that these machine learning algorithms, most notably GNB and NN, have some predictive power in forecasting out-performance and under-performance out of sample. We also try to explore whether it is possible to utilize the predictions from these algorithms to outperform the buy-and-hold strategy of the S&P 500 index. The trading strategy to explore out-performance predictions does not perform very well, but the trading strategy to explore under-performance predictions can earn higher returns than simply holding the S&P 500 index out of sample.

Keywords: machine learning, ETF prediction, dynamic trading, asset allocation

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Authors: M. Tohidi, J. Yang, C. Baniotopoulos

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Progressive collapse of buildings typically occurs when abnormal loading conditions cause local damages, which leads to a chain reaction of failure and ultimately catastrophic collapse. The tie force (TF) method is one of the main design approaches for progressive collapse. As the TF method is a simplified method, further investigations on the reliability of the method is necessary. This study aims to develop an improved TF method to design the cross wall structures for progressive collapse. To this end, the pullout behavior of strands in grout was firstly analyzed; and then, by considering the tie force-slip relationship in the friction stage together with the catenary action mechanism, a comprehensive analytical method was developed. The reliability of this approach is verified by the experimental results of concrete block pullout tests and full scale floor-to-floor joints tests undertaken by Portland Cement Association (PCA). Discrepancies in the tie force between the analytical results and codified specifications have suggested the deficiency of TF method, hence an improved model based on the analytical results has been proposed to address this concern.

Keywords: cross wall, progressive collapse, ties force method, catenary, analytical

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Authors: Mojtaba Farzaneh, Majid Baghaei Nejad

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This article proposes a new Flexible Capacitive Tactile Sensors based on paper sheets. This method combines the parameters of sensor's material and dielectric, and forms a new model of flexible capacitive sensors. The present article tries to present a practical explanation of this method's application and advantages. With the use of this new method, it is possible to make a more flexibility and accurate sensor in comparison with the current models. To assess the performance of this model, the common capacitive sensor is simulated and the proposed model of this article and one of the existing models are assessed. The results of this article indicate that the proposed model of this article can enhance the speed and accuracy of tactile sensor and has less error in comparison with the current models. Based on the results of this study, it can be claimed that in comparison with the current models, the proposed model of this article is capable of representing more flexibility and more accurate output parameters for touching the sensor, especially in abnormal situations and uneven surfaces, and increases accuracy and practicality.

Keywords: capacitive sensor, paper sheets, flexible, tactile, uneven

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Authors: Jana Pichova, Lubos Hes, Vladimir Bajzik

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Protective clothing is designed to keep a wearer save in hazardous conditions or enable perform short time working operation without being injured or feeling discomfort. Firefighters or other related workers are exposed to abnormal heat which can be conductive, convective or radiant type. Their garment is proposed to resist this conditions and prevent burn injuries or dead of human. However thermal comfort of firefighter exposed to high heat source have not been studied yet. Thermal resistance is the best representative parameter of thermal comfort. In this study a new method of testing of thermal resistance of special clothing exposed to high radiation heat source was designed. This method simulates human body wearing single or multi-layered garment which is exposed to radiative heat. Setup of this method enables measuring of radiative heat flow in time without effect of convection. The new testing method is verified on chosen group of textiles for firefighters.

Keywords: protective clothing, radiative heat, thermal comfort of firefighters, thermal resistance of special garments

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Authors: Kripesh Adhikari, Hamid Bouchachia, Hammadi Nait-Charif

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Falls are one of the major causes of injury and death among elderly people aged 65 and above. A support system to identify such kind of abnormal activities have become extremely important with the increase in ageing population. Pose estimation is a challenging task and to add more to this, it is even more challenging when pose estimations are performed on challenging poses that may occur during fall. Location of the body provides a clue where the person is at the time of fall. This paper presents a vision-based tracking strategy where available joints are grouped into three different feature points depending upon the section they are located in the body. The three feature points derived from different joints combinations represents the upper region or head region, mid-region or torso and lower region or leg region. Tracking is always challenging when a motion is involved. Hence the idea is to locate the regions in the body in every frame and consider it as the tracking strategy. Grouping these joints can be beneficial to achieve a stable region for tracking. The location of the body parts provides a crucial information to distinguish normal activities from falls.

Keywords: fall detection, machine learning, deep learning, pose estimation, tracking

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Authors: Aravind Bagade Shankaranarayana, Parampalli Geetha, Pallavi Gupta

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Objective: This study intends to evaluate sexual dysfunction qualitatively and quantitatively in males suffering from primary obesity through a single centered, observational study. Design and Methods: Sexual function of 33 obese males from the outpatient department of the hospital was assessed using IIEF questionnaire and semen analysis and the results were assessed for statistical significance. Results: A varying degree of sexual dysfunction was observed in four out of five areas of sexual functioning viz. erectile function (p<0.02), orgasmic function (p<0.02), sexual desire (p<0.08) and overall satisfaction (p<0.000) in obese individuals. Statistically significant dysfunction was not observed in intercourse satisfaction. Semen analysis was normal in 19 individuals (63.3%) and abnormal in 11 individuals (36.7%), with statistically insignificant p value 0.144, suggesting mild to moderate variation in semen parameters. Conclusions: Varying degree of sexual dysfunction is present in obese males, suggesting that obesity has a possible role in reducing the quality of sexual functioning in males as indicated in the classical Ayurvedic literature.

Keywords: erectile dysfunction, krucchra vyavaya, obesity, sthoulya

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Authors: Petra Palic, Maruska Vizek

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We provide an in-depth analysis of interdependence of asset returns and volatilities in developed and developing countries. The analysis is split into three parts. In the first part, we use multivariate GARCH model in order to provide stylized facts on cross-market volatility spillovers. In the second part, we use a generalized vector autoregressive methodology developed by Diebold and Yilmaz (2009) in order to estimate separate measures of return spillovers and volatility spillovers among sovereign bond, equity, foreign exchange and commodity markets. In particular, our analysis is focused on cross-market return, and volatility spillovers in 19 developed and developing countries. In order to estimate named spillovers, we use daily data from 2008 to 2017. In the third part of the analysis, we use a generalized vector autoregressive framework in order to estimate total and directional volatility spillovers. We use the same daily data span for one developed and one developing country in order to characterize daily volatility spillovers across stock, bond, foreign exchange and commodities markets.

Keywords: cross-market spillovers, sovereign bond markets, equity markets, value at risk (VAR)

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Authors: Hamed Homaei, Seyed Reza Hejazi, Iraj Mahdavi

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Return policy (RP) is a strategy for supply chain coordination, whereby the retailer returns the unsold products to the manufacturer or the manufacturer offers a credit on unsold products to the retailer at the end of selling season. Early order commitment (EOC) is another efficient mechanism for channel coordination wherein the retailer commits to purchasing from the manufacturer a fixed order quantity a few periods in advance of the regular delivery lead time. This paper studies the coordination issue of a two-level supply chain with one retailer and one manufacturer through combining two mentioned contracts. The main purpose of this paper is to present an analytical model to show that how the contract which is created by combining RP and EOC can improve supply chain performance. Numerical analyses show that the supply chain coordination through mentioned contract in compare with EOC mechanism, can improve supply chain performance under certain ranges of model parameters. Furthermore, some numerical analyses are done to determine the best buyback price in order to achieve maximum cost saving in the supply chain. Finally, a revenue sharing scheme is presented in order to achieve a win-win condition in the supply chain.

Keywords: supply chain coordination, early order commitment, return policy, revenue sharing

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Authors: Jae Woong Sull

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Lipid levels are related to the risk of cardiovascular diseases. Cholesterol ester transfer protein (CETP) gene is one of the candidate genes of cardiovascular diseases. A total of 2,304 persons were chosen from a Hospital (N=4,294) in South Korea. Female subjects with the CG/GG genotype had a 2.03 -fold (p=0.0001) higher risk of having abnormal HDL cholesterol levels (<40 mg/dL) than subjects with the CC genotype. Male subjects with the CG/GG genotype had a 1.34 -fold (p=0.0019) higher risk than subjects with the CC genotype. When analyzed by body mass index, the association with CETP was much stronger in male subjects with BMI>=25.69 (OR=1.55, 95% CI: 1.15-2.07, P=0.0037) than in male lean subjects. When analyzed by family history of diabetes, the association with CETP was much stronger in male subjects with positive family history of low physical activity (OR=4.82, 95% CI: 1.86-12.5, P=0.0012) than in male subjects with negative family history of diabetes. This study clearly demonstrates that genetic variants in CETP influence HDL cholesterol levels in Korean adults.

Keywords: CETP, diabetes, obesity, polymorphisms

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Authors: Kawalpreet Kalra, Alpana Goel

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The behaviour of the rotational bands should be smooth but due to large amount of inertia and decreased pairing it is not so. Many experiments have been done in the last few decades, and a large amount of data is available for comprehensive study in this region. Peculiar features like signature dependence, signature inversion, and signature reversal are observed in many two quasiparticle rotational bands of doubly odd and doubly even nuclei. At high rotational frequencies, signature and parity are the only two good quantum numbers available to label a state. Signature quantum number is denoted by α. Even-angular momentum states of a rotational band have α =0, and the odd-angular momentum states have α =1. It has been observed that the odd-spin members lie lower in energy up to a certain spin Ic; the normal signature dependence is restored afterwards. This anomalous feature is termed as signature inversion. The systematic of signature inversion in high-j orbitals for doubly odd rare earth nuclei have been done. Many unusual features like signature dependence, signature inversion and signature reversal are observed in rotational bands of even-even/odd-odd nuclei. Attempts have been made to understand these phenomena using several models. These features have been analyzed within the framework of the Two Quasiparticle Plus Rotor Model (TQPRM).

Keywords: rotational bands, signature dependence, signature quantum number, two quasiparticle

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Authors: Kuei-Ling Sun, Emily Chia-Yu Su

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Allergy is a hypersensitive overreaction of the immune system to environmental stimuli, and a major health problem. These overreactions include rashes, sneezing, fever, food allergies, anaphylaxis, asthmatic, shock, or other abnormal conditions. Allergies can be caused by food, insect stings, pollen, animal wool, and other allergens. Their development of allergies is due to both genetic and environmental factors. Allergies involve immunoglobulin E antibodies, a part of the body’s immune system. Immunoglobulin E antibodies will bind to an allergen and then transfer to a receptor on mast cells or basophils triggering the release of inflammatory chemicals such as histamine. Based on the increasingly serious problem of environmental change, changes in lifestyle, air pollution problem, and other factors, in this study, we both collect allergens and non-allergens from several databases and use several machine learning methods for classification, including logistic regression (LR), stepwise regression, decision tree (DT) and neural networks (NN) to do the model comparison and determine the permutations of allergen amino acid’s sequence.

Keywords: allergy, classification, decision tree, logistic regression, machine learning

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Authors: Hassan Shahmiri Barzoki

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Background: Posttraumatic stress disorder (PTSD) is an abnormal physiologic and psychological reaction in person with severe traumatic history. In recent studies, the relationship between PTSD and some other disease apparently unrelated to psychological situations, such as cardiovascular diseases, diabetes, and metabolic syndrome, has been revealed. Thus, the aim of this study was to survey the prevalence of metabolic syndrome and mental health in PTSD patients. Methods: The research design was retrospective cohort study. Subjects were consisted of 142 Iran-Iraq war veterans with PTSD (age: 40-60 years), and the control group was consisted of 153 veterans without PTSD. Data was collected using questionnaires, physical exams and laboratory tests. Results: Prevalence of metabolic syndrome was 45.1%in PTSD group and 17% in control group. In addition, blood pressure, triglyceride and fasting blood sugar in PTSD group were significantly higher than control group (p<0.05). Also, PTSD patients had significant high rates of psychiatric disorders. Conclusion: PTSD patients are more prone to metabolic syndrome and psychiatric disorders than control group.

Keywords: mental health, metabolic syndrome, post traumatic stress disorder, patient

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Authors: Aleksandra Zysk, Pawel Badura

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Recognizing and controlling vocal registers during singing is a difficult task for beginner vocalist. It requires among others identifying which part of natural resonators is being used when a sound propagates through the body. Thus, an application has been designed allowing for sound recording, automatic vocal register recognition (VRR), and a graphical user interface providing real-time visualization of the signal and recognition results. Six spectral features are determined for each time frame and passed to the support vector machine classifier yielding a binary decision on the head or chest register assignment of the segment. The classification training and testing data have been recorded by ten professional female singers (soprano, aged 19-29) performing sounds for both chest and head register. The classification accuracy exceeded 93% in each of various validation schemes. Apart from a hard two-class clustering, the support vector classifier returns also information on the distance between particular feature vector and the discrimination hyperplane in a feature space. Such an information reflects the level of certainty of the vocal register classification in a fuzzy way. Thus, the designed recognition and training application is able to assess and visualize the continuous trend in singing in a user-friendly graphical mode providing an easy way to control the vocal emission.

Keywords: classification, singing, spectral analysis, vocal emission, vocal register

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Authors: Lisnawati Hutagalung

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Background: Low birth weight (LBW) is one cause of newborn death. Babies with low birth weight tend to have slower cognitive development, growth retardation, more at risk of infectious disease event at risk of death. Objective: Identifying risk factors and dominant factors that influence the incidence of LBW in Indonesia. Method: This research used some database of public health such as Google Scholar, UGM journals, UI journals and UNAND journals in 2012-2015. Data were filtered using keywords ‘Risk Factors’ AND ‘Cause LBW’ with amounts 2757 study. The filtrate obtained 5 public health research that meets the criteria. Results: Risk factors associated with LBW, among other environment factors (exposure to cigarette smoke and residence), social demographics (age and socio-economic) and maternal factors (anemia, placental abnormal, nutritional status of mothers, examinations antenatal, preeclampsia, parity, and complications in pregnancy). Anemia and nutritional status become the dominant factor affecting LBW. Conclusions: The risk factors that affect LBW, most commonly found in the maternal factors. The dominant factors are a big effect on LBW is anemia and nutritional status of the mother during pregnancy.

Keywords: low birth weight, anemia, nutritional status, the dominant factor

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Authors: Jae Woong Sull, Sun Ha Jee

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High-density lipoprotein (HDL) cholesterol levels are associated with decreased risk of coronary artery disease. Several genome-wide association studies (GWAS) for HDL cholesterol levels have implicated cholesterol ester transfer protein (CETP) as possibly causal. We tested for the association between single nucleotide polymorphisms (SNPs) in CETP gene and HDL cholesterol levels in Korean population. Subjects were selected from the Korean Metabolic Syndrome Research Initiative study in the Bundang-Gu area. A total of 2,304 individuals from Bundang-Gu were recruited in 2008. Other subjects were selected from the Severance Hospital (N=4,294). SNP rs6499861 in the CETP gene was associated with mean HDL cholesterol levels (effect per allele -2.044 mg/dL, p=7.23×10-7). Subjects with the CG/GG genotype had a 1.46 -fold (range 1.24–1.72-fold) higher risk of having abnormal HDL cholesterol levels (<40 mg/dL) than subjects with the CC genotype. When analyzed by gender, the association of CETP was stronger in women than in men. When analyzed by physical activity behavior, the association with CETP was much stronger in male subjects with low physical activity (OR=1.54, 95% CI: 1.23-1.92, P=0.0001) than in male subjects with high physical activity. This study clearly demonstrates that genetic variants in CETP influence HDL cholesterol levels in Korean adults.

Keywords: CETP, HDL cholesterol, physical activity, polymorphisms

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Authors: D. Subedi, S. Pradhan

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Current transformers are an integral part of power system because it provides a proportional safe amount of current for protection and measurement applications. However when the power system experiences an abnormal situation leading to huge current flow, then this huge current is proportionally injected to the protection and metering circuit. Since the protection and metering equipment’s are designed to withstand only certain amount of current with respect to time, these high currents pose a risk to man and equipment. Therefore during such instances, the CT saturation characteristics have a huge influence on the safety of both man and equipment and also on the reliability of the protection and metering system. This paper shows the effect of burden on the Accuracy Limiting factor/ Instrument security factor of current transformers and also the change in saturation characteristics of the CT’s. The response of the CT to varying levels of overcurrent at different connected burden will be captured using the data acquisition software LabVIEW. Analysis is done on the real time data gathered using LabVIEW. Variation of current transformer saturation characteristics with changes in burden will be discussed.

Keywords: accuracy limiting factor, burden, current transformer, instrument security factor, saturation characteristics

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Authors: Norashikin Ismail, Nadia Anridho

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Sustainable investing is a responsible investment that focuses on Environmental, Social, and Governance (ESG) elements. ESG integration is essential in the investment process as it provides a positive contribution to the corporate performance for stakeholders, specifically investors. Sustainable investing is in line with the objectives of Shariah (Maqasid of Shariah), such as social inclusion as well as environmental preservation. This study attempts to evaluate the impact of ESG elements to the corporate financial performance among Shariah compliant stocks listed in two countries, namely Malaysia and Indonesia. The motivation of this study is to provide a further understanding in corporate sustainability for two different Islamic capital markets. The existence of the FTSE4Good Asean Index has played a vital role for ESG practices and eventually encouraged specific index for ESG and Shariah Compliant stocks. Our sample consists of 60 companies over the period 2010-2020 from two Southeast countries. We employ System Generalized Method of Moments (GMM) to reduce bias and more specific parameter estimation. Shariah Compliant companies tend to have higher ESG scores and are positively correlated to corporate financial performance. ESG integration with Shariah based investing would provide higher returns and lower risks for Muslim investors. Essentially, integrating ESG and Shariah, compliant companies lead to better financial performance.

Keywords: shariah compliant, southeast asia, corporate performance, sustainable investing

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Authors: B. Yanıktepe, C. Özalp, B. Şahin

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Delta wing planform is an essential aerodynamic configuration, which could be effectively used at relatively high angles of attack than conventional wings in subsonic flow conditions. The flow over delta wings can be characterized by a pair of leading edge vortices emanating from wing apex. Boundary layer separation causes these vortical structures formed by rolling up of viscous flow sheet. This flow separation mechanism is occurred due to angle of attack and sharp leading edges of the delta wing. Therefore, complexity and variety in planform designs rise to catch the best under abnormal flow conditions. The present experimental study investigates the near surface flow structure and aerodynamic flow characteristics of X-45 type non-slender delta wing planform using dye visualization, Stereoscopic Particle Image Velocimetry (stereo-PIV). The instantaneous images are acquired on the plan-view plane within 5o≤α≤20o to calculate the time-averaged flow data. It can be concluded that vortical flow with a pair of well-defined LEVs over X-45 develop at very low angles of attack, secondary vortex are also evident and form close to the wing surface similar to delta and lambda planforms. The stall occurs at an angle of attack α=32o.

Keywords: aerodynamic, delta wing, PIV, vortex breakdown

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Authors: Arpita Roy, Navneeta Bharadvaja

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Cancer is an uncontrolled growth of abnormal cells in the body. It is one of the most serious diseases on which extensive research work has been going on all over the world. Structure-based drug designing is a computational approach which helps in the identification of potential leads that can be used for the development of a drug. Plumbagin is a naphthoquinone derivative from Plumbago zeylanica roots and belongs to one of the largest and diverse groups of plant metabolites. Anticancer and antiproliferative activities of plumbagin have been observed in animal models as well as in cell cultures. Plumbagin shows inhibitory effects on multiple cancer-signaling proteins; however, the binding mode and the molecular interactions have not yet been elucidated for most of these protein targets. In this investigation, an attempt to provide structural insights into the binding mode of plumbagin against four cancer receptors using molecular docking was performed. Plumbagin showed minimal energy against targeted cancer receptors, therefore suggested its stability and potential towards different cancers. The least binding energies of plumbagin with COX-2, TACE, and CDK6 are -5.39, -4.93, -and 4.81 kcal/mol, respectively. Comparison studies of plumbagin with different receptors showed that it is a promising compound for cancer treatment. It was also found that plumbagin obeys the Lipinski’s Rule of 5 and computed ADMET properties which showed drug likeliness and improved bioavailability. Since plumbagin is from a natural source, it has reduced side effects, and these results would be useful for cancer treatment.

Keywords: cancer, receptor, plumbagin, docking

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Authors: Olivier Mesly

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This research presents a conceptual framework termed “Consumer Financial Spinning” (CFS) to analyze consumer behavior in the financial/economic markets. This phenomenon occurs when consumers of high-stakes financial products accumulate unsustainable debt, leading them to detach from their initial financial hierarchy of needs, wealth-related goals, and preferences regarding their household portfolio of assets. The daring actions of these consumers, forming a dark financial triangle, are characterized by three behaviors: overconfidence, the use of rationed rationality, and deceitfulness. We show that we can incorporate CFS into the traditional CAPM and Markovitz’ portfolio optimization models to create a framework that explains such market phenomena as the global financial crisis, highlighting the antecedents and consequences of ill-conceived speculation. Because this is a conceptual paper, there is no methodology with respect to ground studies. However, we apply modeling principles derived from the data percolation methodology, which contains tenets explicating how to structure concepts. A simulation test of the proposed framework is conducted; it demonstrates the conditions under which the relationship between expected returns and risk may deviate from linearity. The analysis and conceptual findings are particularly relevant both theoretically and pragmatically as they shed light on the psychological conditions that drive intense speculation, which can lead to market turmoil. Armed with such understanding, regulators are better equipped to propose solutions before the economic problems become out of control.

Keywords: consumer financial spinning, rationality, deceitfulness, overconfidence, CAPM

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Authors: Tatsuya Iizuka, Takushi Kawamorita, Tomoya Handa, Hitoshi Ishikawa

Abstract:

We report normative cone contrast sensitivity values and sensitivity and specificity values for a computer-based color vision test, the cone contrast test-HD (CCT-HD). The participants included 50 phakic eyes with normal color vision (NCV) and 20 dichromatic eyes (ten with protanopia and ten with deuteranopia). The CCT-HD was used to measure L, M, and S-CCT-HD scores (color vision deficiency, L-, M-cone logCS≦1.65, S-cone logCS≦0.425) to investigate the sensitivity and specificity of CCT-HD based on anomalous-type diagnosis with animalscope. The mean ± standard error L-, M-, S-cone logCS for protanopia were 0.90±0.04, 1.65±0.03, and 0.63±0.02, respectively; for deuteranopia 1.74±0.03, 1.31±0.03, and 0.61±0.06, respectively; and for age-matched NCV were 1.89±0.04, 1.84±0.04, and 0.60±0.03, respectively, with significant differences for each group except for S-CCT-HD (Bonferroni corrected α = 0.0167, p < 0.0167). The sensitivity and specificity of CCT-HD were 100% for protan and deutan in diagnosing abnormal types from 20 to 64 years of age, but the specificity decreased to 65% for protan and 55% for deutan in older persons > 65. CCT-HD is comparable to the diagnostic performance of the anomalous type in the anomaloscope for the 20-64-year-old age group. However, the results should be interpreted cautiously in those ≥ 65 years. They are more susceptible to acquired color vision deficiencies due to the yellowing of the crystalline lens and other factors.

Keywords: cone contrast test HD, color vision test, congenital color vision deficiency, red-green dichromacy, cone contrast sensitivity

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Authors: Alexander Dao, Oscar Wambuguh

Abstract:

Irritable Bowel Syndrome (IBS) is a heterogeneous functional bowel disease that is characterized by chronic visceral abdominal pain and abnormal bowel function and habits. Its multifactorial pathophysiology and mechanisms are still largely a mystery to the contemporary biomedical community, although there are many hypotheses to try to explain IBS’s presumed physiological, psychosocial, genetic, and environmental etiologies. IBS’s symptomatic presentation is varied and divided into four major subtypes: IBS-C, IBS-D, IBS-M, and IBS-U. Given its diverse presentation and unclear mechanisms, diagnosis is done through a combination of positive identification utilizing the “Rome IV Irritable Bowel Syndrome Criteria'' (Rome IV) diagnostic criteria while also excluding other potential conditions with similar symptoms. Treatment of IBS is focused on the management of symptoms using an assortment of pharmaceuticals, lifestyle changes, and dietary changes, with future potential in microbial treatment and psychotherapy as other therapy methods. Its chronic, heterogeneous nature and disruptive gastrointestinal (GI) symptoms are negatively impactful on patients’ daily lives, health systems, and society. However, with a better understanding of the gaps in knowledge and technological advances in IBS’s pathophysiology, management, and treatment options, there is optimism for the millions of people worldwide who are suffering from the debilitating effects of IBS.

Keywords: irritable bowel syndrome, lifestyle, diet, functional gastrointestinal disorder

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Authors: Sulaiman Al Amro

Abstract:

There are currently considerable challenges concerning data security and privacy, particularly in relation to modern technologies. This includes the virtual world known as the Metaverse, which consists of a virtual space that integrates various technologies and is therefore susceptible to cyber threats such as malware, phishing, and identity theft. This has led recent studies to propose the development of Metaverse forensic frameworks and the integration of advanced technologies, including machine learning for intrusion detection and security. In this context, the application of first-order logic offers a formal and systematic approach to defining the conditions of cyberattacks, thereby contributing to the development of effective detection mechanisms. In addition, formalizing the rules and patterns of cyber threats has the potential to enhance the overall security posture of the Metaverse and, thus, the integrity and safety of this virtual environment. The current paper focuses on the primary actions employed by avatars for potential attacks, including Interval Temporal Logic (ITL) and behavior-based detection to detect an avatar’s abnormal activities within the Metaverse. The research established that the proposed framework attained an accuracy of 92.307%, resulting in the experimental results demonstrating the efficacy of ITL, including its superior performance in addressing the threats posed by avatars within the Metaverse domain.

Keywords: security, privacy, metaverse, cyberattacks, detection, first-order logic

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