Search results for: dynamic globalized markets

Authors: Mohammad Hadi Jalali, Behrooz Shahriari, Mostafa Ghayour, Saeed Ziaei-Rad, Shahram Yousefi

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Most flexible rotors can be considered as beam-like structures. In many cases, rotors are modeled as one-dimensional bodies, made basically of beam-like shafts with rigid bodies attached to them. This approach is typical of rotor dynamics, both analytical and numerical, and several rotor dynamic codes, based on the finite element method, follow this trend. In this paper, a finite element model based on Timoshenko beam elements is utilized to analyze the lateral dynamic behavior of a certain rotor-bearing system in operating conditions.

Keywords: finite element method, Timoshenko beam elements, operational deflection shape, unbalance response

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Authors: Selina Schwaabe

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Community pharmacies deliver high-quality health care and are responsible for medication safety. During the pandemic, accessibility to the nearest pharmacy became more essential to get vaccinated against Covid-19 and to get medical aid. The government's goal is to ensure nationwide, reachable, and affordable medical health care services by pharmacies. Therefore, the density of community pharmacies matters. Overall, the density of community pharmacies is fluctuating, with slightly decreasing tendencies in some countries. So far, the literature has shown that changes in the system affect prices and density. However, a European overview of the development of the density of community pharmacies and its triggers is still missing. This research is essential to counteract against decreasing density consulting in a lack of professional health care through pharmacies. The analysis focuses on liberal versus regulated market structures, mail-order prescription drug regulation, and third-party ownership consequences. In a panel analysis, the relative influence of the measures is examined across 27 European countries over the last 21 years. In addition, the paper examines seven selected countries in depth, selected for the substantial variance in their pharmacy system: Germany, Austria, Portugal, Denmark, Sweden, Finland and Poland. Overall, the results show that regulated pharmacy markets have over 10.75 pharmacies/100.000 inhabitants more than liberal markets. Further, mail-order prescription drugs decrease the density by -17.98 pharmacies/100.000 inhabitants. Countries allowing third-party ownership have 7.67 pharmacies/100.000 inhabitants more. The results are statistically significant at a 0.001 level. The output of this analysis recommends regulated pharmacy markets, with a ban on mail-order prescription drugs allowing third-party ownership to support nationwide medical health care through community pharmacies.

Keywords: community pharmacy, market conditions, pharmacy, pharmacy market, pharmacy lobby, prescription, e-prescription, ownership structures

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Authors: P. Ravinder Reddy, Chaitanya Vishal Nalli, B. Tulja Lal, Anusha Kankanala

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The chassis frame of an automobile with different sections have been considered for different loads. The orthotropic materials are selected to get the stability by varying fiber angle, fiber thickness, laminates, fiber properties, matrix properties and elastic ratios. The geometric model of chassis frame is carried out with parametric modelling approach. The analysis of chassis frame is carried out with ANSYS FEA software. The static and dynamic analysis of chassis frame is carried out by varying geometric parameters, orthotropic properties, materials and various sections. The static and dynamic response is discussed in detail in different sections.

Keywords: chassis frame, dynamic response, geometric model, orthotropic materials

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Authors: Mohamed Moustafa Mahmoud Sedky

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In line start permanent magnet synchronous motor, eccentricity is a common fault that can make it necessary to remove the motor from the production line. However, because the motor may be inaccessible, diagnosing the fault is not easy. This paper presents an FEM that identifies different models, static eccentricity, dynamic eccentricity, and mixed eccentricity, at no load and full load. The method overcomes the difficulty of applying FEMs to transient behavior. It simulates motor speed, torque and flux density distribution along the air gap for SE, DE, and ME. This paper represents the various effects of different eccentricities types on the transient performance.

Keywords: line start permanent magnet, synchronous machine, static eccentricity, dynamic eccentricity, mixed eccentricity

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Authors: Evgeniia V. Mekhonoshina, Vladimir Ya. Modorskii, Vasilii Yu. Petrov

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At present, vibrations of rotors of gas transmittal unit evade sustainable forecasting. This paper describes elastic oscillation modes in resilient supports and rotor impellers modeled during computational experiments with regard to interference in the system of gas-dynamic flow and compressor rotor. Verification of aeroelastic approach was done on model problem of interaction between supersonic jet in shock tube with deformed plate. ANSYS 15.0 engineering analysis system was used as a modeling tool of numerical simulation in this paper. Finite volume method for gas dynamics and finite elements method for assessment of the strain stress state (SSS) components were used as research methods. Rotation speed and material’s elasticity modulus varied during calculations, and SSS components and gas-dynamic parameters in the dynamic system of gas-dynamic flow and compressor rotor were evaluated. The analysis of time dependence demonstrated that gas-dynamic parameters near the rotor blades oscillate at 200 Hz, and SSS parameters at the upper blade edge oscillate four times higher, i.e. with blade frequency. It has been detected that vibration amplitudes correction in the test points at magnetic bearings by aeroelasticity may correspond up to 50%, and about -π/4 for phases.

Keywords: Centrifugal compressor, aeroelasticity, interdisciplinary calculation, oscillation phase displacement, vibration, nonstationarity

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Authors: Mohammad Reza Ameri, Ali Massumi, Mohammad Haghbin

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Non-linear static analysis, commonly referred to as pushover analysis, is a powerful tool for assessing the seismic response of structures. A suitable lateral load pattern for pushover analysis can bring the results of this simple, quick and low-cost analysis close to the realistic results of nonlinear dynamic analyses. In this research, four samples of 10- and 15 story (two- and four-bay) reinforced concrete frames were studied. The lateral load distribution patterns recommended in FEMA 273/356 guidelines were applied to the sample models in order to perform pushover analyses. The results were then compared to the results obtained from several nonlinear incremental dynamic analyses for a range of earthquakes. Finally, a lateral load distribution pattern was proposed for pushover analysis of medium-rise reinforced concrete buildings based on the results of nonlinear static and dynamic analyses.

Keywords: lateral load pattern, nonlinear static analysis, incremental dynamic analysis, medium-rise reinforced concrete frames, performance based design

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Authors: Ajish Sreedharan

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Security in transmission and storage of digital images has its importance in today’s image communications and confidential video conferencing. Due to the increasing use of images in industrial process, it is essential to protect the confidential image data from unauthorized access. Advanced Encryption Standard (AES) is a well known block cipher that has several advantages in data encryption. However, it is not suitable for real-time applications. This paper presents modifications to the Advanced Encryption Standard to reflect a high level security and better image encryption. The modifications are done by adjusting the ShiftRow Transformation and using On Dynamic chaotic S-BOX. In AES the Substitute bytes, Shift row and Mix columns by themselves would provide no security because they do not use the key. In Dynamic chaotic S-BOX Based AES the Substitute bytes provide security because the S-Box is constructed from the key. Experimental results verify and prove that the proposed modification to image cryptosystem is highly secure from the cryptographic viewpoint. The results also prove that with a comparison to original AES encryption algorithm the modified algorithm gives better encryption results in terms of security against statistical attacks.

Keywords: advanced encryption standard (AES), on dynamic chaotic S-BOX, image encryption, security analysis, ShiftRow transformation

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Authors: Rafla Hchaichi

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The public administration is currently experiencing in the field of quality unprecedented effervescence. However, in a globalized world more and more competitive, public services are confronted with the need to improve their performances which push public companies to implement quality approaches. Quality approaches have taken diverse forms such as service commitment, labels, certifications and the Common Assessment Framework. This paper provides an overview on the strategy for administrative development in Tunisia since the Carthaginian civilization until today. It outlines the evolution of quality management in the Tunisian public context while focusing on the National Referential of Quality of Administrative Services.

Keywords: quality approach, the common assessment framework, service commitment, label, certification, quality of public service, performance of public service, Tunisian Public Service

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Authors: Nurullah Buker, Ezgi Karagoz, Yesim Salik Sengul, Sevay Alsen Guney, Gokhan Yoyler, Aylin Ozbek

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Attention Deficit Hyperactivity Disorder (ADHD) is one of the most common neurodevelopmental disorders with heterogeneous clinical features such as inattention, hyperactivity, and impulsivity. Many different types of exercise interventions were employed for children with ADHD. However, previous studies have usually examined the effects of non-specific exercise programs or short-term effects of exercise. The aim of this study is to investigate the effect of the Neurocognitive Exercise Program (NEP), which is a structured exercise program derived from Life Kinetik, and a relatively new for children with ADHD, on symptoms, attention, and dynamic balance in medication-naïve children with ADHD. Fourteen medication-naive children (7-12 years) with ADHD were included in the intervention group. NEP was performed once a week for ten weeks. The intervention group also performed a structured home exercise program for another six days, for ten weeks. The children in the intervention group were assessed at baseline, in the third month, in the sixth month, and in the twelfth month regarding ADHD-related symptoms, attention, and dynamic balance. Fifteen age-matched typically developing children were assessed once for establishing normative values. Hyperactivity-Impulsivity score and dynamic balance were found to improve after NEP in the ADHD group in the 3rd month (p<0.05). In addition, these results were similar for both groups after NEP and at the end of the 12th month (p>0.05). The NEP may provide beneficial effects on hyperactivity-impulsivity, oppositional defiant, and dynamic balance in children with ADHD, and the improvements may be maintained in the long term.

Keywords: ADHD, attention problems, dynamic balance, neurocognitive exercise

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Authors: Jui-Pui Hung, Yu-Sheng Lai, Tzuo-Liang Luo, Kung-Da Wu, Yun-Ji Zhan

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This study presented the investigation of the influence of the tool holder interface stiffness on the dynamic characteristics of a spindle tool system. The interface stiffness was produced by drawbar force on the tool holder, which tends to affect the spindle dynamics. In order to assess the influence of interface stiffness on the vibration characteristic of spindle unit, we first created a three dimensional finite element model of a high speed spindle system integrated with tool holder. The key point for the creation of FEM model is the modeling of the rolling interface within the angular contact bearings and the tool holder interface. The former can be simulated by a introducing a series of spring elements between inner and outer rings. The contact stiffness was calculated according to Hertz contact theory and the preload applied on the bearings. The interface stiffness of the tool holder was identified through the experimental measurement and finite element modal analysis. Current results show that the dynamic stiffness was greatly influenced by the tool holder system. In addition, variations of modal damping, static stiffness and dynamic stiffness of the spindle tool system were greatly determined by the interface stiffness of the tool holder which was in turn dependent on the draw bar force applied on the tool holder. Overall, this study demonstrates that identification of the interface characteristics of spindle tool holder is of very importance for the refinement of the spindle tooling system to achieve the optimum machining performance.

Keywords: dynamic stiffness, spindle-tool holder, interface stiffness, drawbar force

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Authors: Longqing Li

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The paper addresses the inefficiency of the classical model in measuring the Value-at-Risk (VaR) using a normal distribution or a Student’s t distribution. Specifically, the paper focuses on the one day ahead Value-at-Risk (VaR) of major stock market’s daily returns in US, UK, China and Hong Kong in the most recent ten years under 95% confidence level. To improve the predictable power and search for the best performing model, the paper proposes using two leading alternatives, Extreme Value Theory (EVT) and a family of GARCH models, and compares the relative performance. The main contribution could be summarized in two aspects. First, the paper extends the GARCH family model by incorporating EGARCH and TGARCH to shed light on the difference between each in estimating one day ahead Value-at-Risk (VaR). Second, to account for the non-normality in the distribution of financial markets, the paper applies Generalized Error Distribution (GED), instead of the normal distribution, to govern the innovation term. A dynamic back-testing procedure is employed to assess the performance of each model, a family of GARCH and the conditional EVT. The conclusion is that Exponential GARCH yields the best estimate in out-of-sample one day ahead Value-at-Risk (VaR) forecasting. Moreover, the discrepancy of performance between the GARCH and the conditional EVT is indistinguishable.

Keywords: Value-at-Risk, Extreme Value Theory, conditional EVT, backtesting

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Authors: Fabrizio Iezzi, Claudio Valente

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The viscous damping in dynamic systems can be proportional or non-proportional. In the first case, the mode shapes are real whereas in the second case they are complex. From an engineering point of view, the complexity of the mode shapes is important in order to quantify the non-proportional damping. Different indices exist to provide estimates of the modal complexity. These indices are or not zero, depending whether the mode shapes are not or are complex. The modal density problem arises in the experimental identification when the dynamic systems have close modal frequencies. Depending on the entity of this closeness, the mode shapes can hold fictitious imaginary quantities that affect the values of the modal complexity indices. The results are the failing in the identification of the real or complex mode shapes and then of the proportional or non-proportional damping. The paper aims to show the influence of the modal density on the values of these indices in case of both proportional and non-proportional damping. Theoretical and pseudo-experimental solutions are compared to analyze the problem according to an appropriate mechanical system.

Keywords: complex mode shapes, dynamic systems identification, modal density, non-proportional damping

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Authors: Hina Munir Abbasi

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The current paper examines the relationship and diversification ability of Islamic stock indices /conventional stocks indices and Real Estate Investment Trust (REITs).To represent conditional dependency between stocks and REITs in a more realistic way, new modeling technique, time-varying copula with switching dependence is used. It represents reliance structure more accurately and realistically than a single copula regime as dependence may alter between positive and negative correlation regimes with time. The fluctuating behavior of markets has significant impact on economic variables; especially the downward trend during crisis. Overall addition of Real Estate Investment Trust in stocks portfolio reduces risks and provide better diversification benefit. Results varied depending upon the circumstances of the country. REITs provides better diversification benefits for Islamic Stocks, when both markets are bearish and can provide hedging benefit for conventional stocks portfolio.

Keywords: conventional stocks, real estate investment trust, copula, diversification, risk spillover, safe heaven

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Authors: A. Bogdanovic, M. Vitanova, J. Bojadjieva, Z. Rakicevic, V. Sesov, K. Edip, N. Naumovski, F. Manojlovski, A.Popovska, A. Shoklarovski, T. Kitanovski, D. Ivanovski, I. Markovski, D. Filipovski

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The conditions of existing structures change in the course of time and can hardly be characterized particularly if a bridge has long been in function and there is no design documentation related to it. To define the real conditions of a structure, detailed static and dynamic analysis of the structure has to be carried out and its modal parameters have to be defined accurately. Modal analysis enables a quite accurate identification of the natural frequencies and mode shapes. Presented in this paper are the results from the performed detailed analyses of a steel truss bridge that has been in use for more than 7 decades by the military services of R.N. Macedonia and for which there is no documentation at all. Static and dynamic investigations and ambient vibration measurements were performed. The acquired data were used to identify the mode shapes that were used for comparison with the numerical model. Dynamic tests were performed to define the bridge behaviour and the damping index. Finally, based on all the conducted detailed analyses and investigations, conclusions on the conditions of the bridge structure were drawn.

Keywords: ambient vibrations, dynamic identification, in-situ measurement, steel truss bridge

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Authors: M. Cangi, T. Dolar, C. Ersoy, Y. E. Aydogdu, A. I. Aydeniz, A. Mugan

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The drum is one of the critical parts in a washing machine in which the clothes are washed and spin by the rotational movement. It is activated by the drum shaft which is attached to an electric motor and subjected to dynamic loading. Being one of the critical components, failures of the drum require costly repairs of dynamic components. In this study, tolerance bands between the drum shaft and its two bearings were examined to develop a relationship between the fatigue life of the shaft and the interaction tolerances. Optimization of tolerance bands was completed in consideration of the fatigue life of the shaft as the cost function. The following methodology is followed: multibody dynamic model of a washing machine was constructed and used to calculate dynamic loading on the components. Then, these forces were used in finite element analyses to calculate the stress field in critical components which was used for fatigue life predictions. The factors affecting the fatigue life were examined to find optimum tolerance grade for a given test condition. Numerical results were verified by experimental observations.

Keywords: fatigue life, finite element analysis, tolerance analysis, optimization

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Authors: Tommi Mahlamaki, Mika Ojala

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Digitalization is changing our lives in many ways. As consumers, we are accustomed using different online interactive sales systems. However, while many online selling sites offer systems that have evolved from simple selling functions, the change has not been as rapid in business-to-business (B2B) markets. This is because many B2B companies rely on personal sales and personal communication. The main objective of this research is to clarify perceptions towards digital interactive sales systems and, more specifically, sales configurators. It also aims to identify trends towards the use of sales configurators. To reach these objectives, an online questionnaire was created that targets Finnish B2B distributors who are, by definition, part of B2B markets. The questionnaire was sent to 340 distributors, and it was returned by 150 respondents. The results showed that 82% of respondents had heard about sales configurators, and 64% had used them. The results also showed that 48% of respondents felt that the use of sales configurators would increase in the future, while only 2% felt they would be used less. The future use of sales configurators was not seen as affecting the level of personal sales. In light of the results, we recommend that B2B companies create marketing strategies that integrate and complement traditional sales processes with digital interactive systems.

Keywords: digitalization, interactive systems, marketing, sales process

Procedia PDF Downloads 239

Authors: Imen Dhaou

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This study examines conditional Value at Risk by applying the GJR-EVT-Copula model, and finds the optimal portfolio for eight Dow Jones Islamic-conventional pairs. Our methodology consists of modeling the data by a bivariate GJR-GARCH model in which we extract the filtered residuals and then apply the Peak over threshold model (POT) to fit the residual tails in order to model marginal distributions. After that, we use pair-copula to find the optimal portfolio risk dependence structure. Finally, with Monte Carlo simulations, we estimate the Value at Risk (VaR) and the conditional Value at Risk (CVaR). The empirical results show the VaR and CVaR values for an equally weighted portfolio of Dow Jones Islamic-conventional pairs. In sum, we found that the optimal investment focuses on Islamic-conventional US Market index pairs because of high investment proportion; however, all other index pairs have low investment proportion. These results deliver some real repercussions for portfolio managers and policymakers concerning to optimal asset allocations, portfolio risk management and the diversification advantages of these markets.

Keywords: CVaR, Dow Jones Islamic index, GJR-GARCH-EVT-pair copula, portfolio optimization

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Authors: Abdulrahman M. Hamid

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Dynamic Cone Penetration Test (DCPT) is widely used for field quality assessment of soils. Its application to predict the engineering properties of soil is globally promoted by the fact that it is difficult to obtain undisturbed soil samples, especially when loose or submerged sandy soil is encountered. Detailed discussion will be presented on the current development of DCPT correlations with resilient modulus, relative density, California Bearing Ratio (CBR), unconfined compressive strength and shear strength that have been developed for different materials in both the laboratory and field, as well as on the usage of DCPT in quality control of compaction of earth fills and performance evaluation of pavement layers. In addition, the relationship of the DCPT with other instruments such as falling weight deflectometer, nuclear gauge, soil stiffens gauge, and plate load test will be reported. Lastely, the application of DCPT in Saudi Arabia in recent years will be addressed in this manuscript.

Keywords: dynamic cone penetration test, falling weight deflectometer, nuclear gauge, soil stiffens gauge, plate load test, automated dynamic cone penetration

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Authors: Abdul Hakim Abdullah, Mohamad Syafiq Abdul Khadir

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In present investigations, thermal behaviours of Arenga pinnata fibres prior and after alkaline treatment were studied. The alkaline treatments were applied on the Arenga pinnata fibres by immersing in the alkaline solution, 6% sodium hydroxide (NaOH). Using hand lay-out technique, composites were fabricated at 20% and 40% by Arenga pinnata fibres weight contents. The thermal behaviours of both untreated and treated composites were determined by employing Dynamic Mechanical Analysis (DMA). The results show that the TAP owned better results of Storage Modulus (E’), Loss Modulus (E”) and Tan Delta temperatures ranges from 0°C to 60°C.

Keywords: composites, Arenga pinnata fibre, alkaline treatment, dynamic mechanical properties

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Authors: Ratna Kuswardani

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This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

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Authors: Najib Belhadj Messaoud, Slim Souissi

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The non-linear dynamic behavior of a single stage spur gear reducer is studied in this paper in transient regime. Driving and driver rotors are, respectively, powered by a motor torque Cm and loaded by a resistive torque Cr. They are supported by two identical Active Magnetic Bearings (AMBs). Gear excitation is induced by the motor torque and load variation in addition to the fluctuation of meshing stiff-ness due to the variation of input rotational speed. Three models of AMBs were used with four, six and eight magnets. They are operated by P.D controller and powered by control and bias currents. The dynamic parameters of the AMBs are modeled by stiffness and damping matrices computed by the derivation of the electromagnetic forces. The equations of motion are solved iteratively using Newmark time integration method. In the first part of the study, the model is powered by an electric motor and by a four strokes four cylinders diesel engine in the second part. The numerical results of the dynamic responses of the system come to confirm the significant effect of the transient regime on the dynamic behavior of a gear set, particularly in the case of engine acyclism condition. Results also confirm the influence of the magnet number by AMBs on the dynamic behavior of the system. Indeed, vibrations were more important in the case of gear reducer supported by AMBs with four magnets.

Keywords: motor, stiffness, gear, acyclism, fluctuation, torque

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Authors: Chanda Burrage

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The past half-century has revealed massive structural, geographic, and technological changes in livestock production. The move, for instance, toward expanding export markets, massive feedlots for the fattening of cattle and improved veterinary standards is a global trend in food animal agribusiness and is apparent in both developed and developing regions. In the Horn of Africa, various breeds of cattle that previously were not considered in economic terms are now treated as commodities and branded for numerous export markets. Formerly a culturally significant exchange good within the subsistence pastoral livelihoods, cattle are now identified as a key economic resource and fully connected to global markets. This study incorporates an ethnographic-commodity chain approach to examine critical issues surrounding regional trade, harmonization of standards, import & export legislation, the role of the private sector, and infrastructure development relative to the Boran cattle breed and Borana pastoralists. The specific sites assessed include the cattle production region of Moyale in southern Ethiopia, feedlots and export abattoirs in Adama, Ethiopia, and quarantines and ports in Djibouti and Somaliland. The goal is to evaluate innovation and modernization outcomes and narratives around Boran cattle production and development and the associate livelihood changes for cattle producers in southern Ethiopia and how the smallholder pastoralists are coping with the multitude of global changes. Inevitably, the inherent pressures related to such changes alter, and may even promote the reconfiguration of identity, while inadvertently contribute to the capacity of smallholder cattle producers to act independently and make their own free choices in sustainability. It is through these processes that local Borana groups may appropriate, bypass, or put to new use available and innovative material resources.

Keywords: globalization, global change, commodification, pastoralism, vulnerability, adaptive capacity

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Bergun Meric Bingul, Yezdan Cinel, Murat Son, Cigdem Bulgan, Mensure Aydin

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The aim of this study was to determination of the effects of knee and hip isokinetic performance during the training with the special designed roller-shoes. 30 soccer players participated as subjects and these subjects were divided into 3 groups randomly. Training groups were; with the dynamic training shoes group, without the dynamic training shoes group and control group. Subjects were trained speed strength trainings during 8 weeks (3 days a week and 1 hour a day). 6 exercises were focused on the knee flexors and extensors, also hip adductor and abductor muscles were chosen and performed in 3x30secs at each sets. Control group was not paticipated to the training program. Before and after the training programs knee flexor and extensor muscles and hip abductor and adductor muscles’ peak torques were measured by Biodex III isokinetic dynamometer. Isokinetic strength data were analyzed by using SPSS program. A repeated measures analysis of variance (ANOVA) was used to determine differences among the peak torque values for three groups. The results indicated that soccer players’ peak torque values that the group of using the dynamic training shoes, were found higher. Also, hip adductor and abductor peak torques that the group of using the dynamic training shoes, were obtained better than the other groups. In conclusion, the ground friction forces are an important role of increasing strength. With these shoes, using rollers, soccer players were able to move easily because of the friction forces were reduced and created more range of motion. So, exercises were performed faster than before and strength movements in all angles, it ensured that the active state. This was resulted in a better use of force.

Keywords: isokinetic, soccer, dynamic training shoes, training

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Authors: Omar A. Abuobidalla, Mingyuan Chen, Satyaveer S. Chauhan

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Railroad transportation of hazardous materials freights is important to the North America economics that supports the national’s supply chain. This paper introduces various extensions of the dynamic hazardous materials trip plan problems. The problem captures most of the operational features of a real-world railroad transportations systems that dynamically initiates a set of blocks and assigns each shipment to a single block path or multiple block paths. The dynamic hazardous materials trip plan policies have distinguishing features that are integrating the blocking plan, and the block activation decisions. We also present a non-linear mixed integer programming formulation for each variant and present managerial insights based on a hypothetical railroad network. The computation results reveal that the dynamic car scheduling policies are not only able to take advantage of the capacity of the network but also capable of diminishing the population, and environment risks by rerouting the active blocks along the least risky train services without sacrificing the cost advantage of the railroad. The empirical results of this research illustrate that the issue of integrating the blocking plan, and the train makeup of the hazardous materials freights must receive closer attentions.

Keywords: dynamic car scheduling, planning and scheduling hazardous materials freights, airborne hazardous materials, gaussian plume model, integrated blocking and routing plans, box model

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Authors: Jie Huo, Jonathan Wu

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Segmentation of anatomical structures in medical images is essential for scientific inquiry into the complex relationships between biological structure and clinical diagnosis, treatment and assessment. As a method of incorporating the prior knowledge and the anatomical structure similarity between a target image and atlases, multi-atlas segmentation has been successfully applied in segmenting a variety of medical images, including the brain, cardiac, and abdominal images. The basic idea of multi-atlas segmentation is to transfer the labels in atlases to the coordinate of the target image by matching the target patch to the atlas patch in the neighborhood. However, this technique is limited by the pairwise registration between target image and atlases. In this paper, a novel multi-atlas segmentation approach is proposed by introducing a dynamic energy model. First, the target is mapped to each atlas image by minimizing the dynamic energy function, then the segmentation of target image is generated by weighted fusion based on the energy. The method is tested on MICCAI 2012 Multi-Atlas Labeling Challenge dataset which includes 20 target images and 15 atlases images. The paper also analyzes the influence of different parameters of the dynamic energy model on the segmentation accuracy and measures the dice coefficient by using different feature terms with the energy model. The highest mean dice coefficient obtained with the proposed method is 0.861, which is competitive compared with the recently published method.

Keywords: brain MRI segmentation, dynamic energy model, multi-atlas segmentation, energy minimization

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Authors: Ammar Maziz, Mostapha Tarfaoui, Said Rechak

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The high mechanical performance of composite pipes can be adversely affected by their low resistance to impact loads. Loads in dynamic origin are dangerous and cause consequences on the operation of pipes because the damage is often not detected and can affect the structural integrity of composite pipes. In this work, an advanced 3-D finite element (FE) model, based on the use of intralaminar damage models was developed and used to predict damage under low-velocity impact. The performance of the numerical model is validated with the confrontation with the results of experimental tests. The results show that at low impact energy, the damage happens mainly by matrix cracking and delamination. The model capabilities to simulate the low-velocity impact events on the full-scale composite structures were proved.

Keywords: composite materials, low velocity impact, FEA, dynamic behavior, progressive damage modeling

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Authors: Xinyi Xu

Abstract:

This study conducts a detailed examination of Asian stock markets over the period from 2008 to 2023, with a focus on the dynamics of cointegration and their relevance for long-term investment strategies. Specifically, we assess the co-movement and potential for pairs trading—a strategy where investors take opposing positions on two stocks, indices, or financial instruments that historically move together. For example, we explore the relationship between the Nikkei 225 (N225), Japan’s benchmark stock index, and the Straits Times Index (STI) of Singapore, as well as the relationship between the Korea Composite Stock Price Index (KS11) and the STI. The methodology includes tests for normality, stationarity, cointegration, and the application of Vector Error Correction Modeling (VECM). Our findings reveal significant long-term relationships between these pairs, indicating opportunities for pairs trading strategies. Furthermore, the research underscores the challenges posed by model instability and the influence of major global incidents, which are identified as structural breaks. These findings pave the way for further exploration into the intricacies of financial market dynamics.

Keywords: normality tests, stationarity, cointegration, VECM, pairs trading

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Authors: Damous Mohamed, Zeroudi Nasredine

Abstract:

High-speed milling of thin-walled parts with complex curvilinear profiles often encounters machining instability, commonly referred to as chatter. This phenomenon arises due to the dynamic interaction between the cutting tool and the part, exacerbated by the part's low rigidity and varying dynamic characteristics along the tool path. This research presents a dynamic model specifically developed to predict machining stability for such curved thin-walled components. The model employs the semi-discretization method, segmenting the tool trajectory into small, straight elements to locally approximate the behavior of an inclined plane. Dynamic characteristics for each segment are extracted through experimental modal analysis and incorporated into the simulation model to generate global stability lobe diagrams. Validation of the model is conducted through cutting tests where acoustic intensity is measured to detect instabilities. The experimental data align closely with the predicted stability limits, confirming the model's accuracy and effectiveness. This work provides a comprehensive approach to enhancing machining stability predictions, thereby improving the efficiency and quality of high-speed milling operations for thin-walled parts.

Keywords: chatter, curved thin-walled part, semi-discretization method, stability lobe diagrams

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Authors: Lokeswara Rao P., Naga Venkata Rakesh N., V. Anantha Subramanian

Abstract:

It is important to estimate, predict, and avoid the dynamic instability of high speed planing crafts. It is known that design parameters like relative location of center of gravity with respect to the dynamic lift centre and length to beam ratio of the craft have influence on the tendency to porpoise. This paper analyzes the hydrodynamic performance on the basis of the semi-empirical Savitsky method and also estimates the same by numerical simulations based on Reynolds Averaged Navier Stokes (RANS) equations using a commercial code namely, STAR- CCM+. The paper examines through the same numerical simulation considering dynamic equilibrium, the changing running trim, which results in porpoising. Some interesting results emerge from the study and this leads to early detection of the instability.

Keywords: CFD, planing hull, porpoising, Savitsky method

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