Search results for: exchange anisotropy

Authors: Jesus Carretero, Mario Vasile, Javier Garcia-Blas, Felix Garcia-Carballeira

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Supporting cross-border secure and reliable exchange of data and documents and to promote data interoperability is critical for Europe to enhance sector (like eFinance, eJustice and eHealth). This work presents the status and results of the European Project MADE, a Research Project funded by Connecting Europe facility Programme, to provide secure e-invoicing and e-document exchange systems among Europe countries in compliance with the eIDAS Regulation (Regulation EU 910/2014 on electronic identification and trust services). The main goal of MADE is to develop six new AS4 Access Points and SMP in Europe to provide secure document exchanges using the eDelivery DSI (Digital Service Infrastructure) amongst both private and public entities. Moreover, the project demonstrates the feasibility and interest of the solution provided by providing several months of interoperability among the providers of the six partners in different EU countries. To achieve those goals, we have followed a methodology setting first a common background for requirements in the partner countries and the European regulations. Then, the partners have implemented access points in each country, including their service metadata publisher (SMP), to allow the access to their clients to the pan-European network. Finally, we have setup interoperability tests with the other access points of the consortium. The tests will include the use of each entity production-ready Information Systems that process the data to confirm all steps of the data exchange. For the access points, we have chosen AS4 instead of other existing alternatives because it supports multiple payloads, native web services, pulling facilities, lightweight client implementations, modern crypto algorithms, and more authentication types, like username-password and X.509 authentication and SAML authentication. The main contribution of MADE project is to open the path for European companies to use eDelivery services with cross-border exchange of electronic documents following PEPPOL (Pan-European Public Procurement Online) based on the e-SENS AS4 Profile. It also includes the development/integration of new components, integration of new and existing logging and traceability solutions and maintenance tool support for PKI. Moreover, we have found that most companies are still not ready to support those profiles. Thus further efforts will be needed to promote this technology into the companies. The consortium includes the following 9 partners. From them, 2 are research institutions: University Carlos III of Madrid (Coordinator), and Universidad Politecnica de Valencia. The other 7 (EDICOM, BIZbrains, Officient, Aksesspunkt Norge, eConnect, LMT group, Unimaze) are private entities specialized in secure delivery of electronic documents and information integration brokerage in their respective countries. To achieve cross-border operativity, they will include AS4 and SMP services in their platforms according to the EU Core Service Platform. Made project is instrumental to test the feasibility of cross-border documents eDelivery in Europe. If successful, not only einvoices, but many other types of documents will be securely exchanged through Europe. It will be the base to extend the network to the whole Europe. This project has been funded under the Connecting Europe Facility Agreement number: INEA/CEF/ICT/A2016/1278042. Action No: 2016-EU-IA-0063.

Keywords: security, e-delivery, e-invoicing, e-delivery, e-document exchange, trust

Procedia PDF Downloads 265

Authors: C. C. Liang

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MSN used to be the most popular application for communicating among social networks, but Facebook chat is now the most popular. Facebook and MSN have similar characteristics, including usefulness, ease-of-use, and a similar function, which is the exchanging of information with friends. Facebook outperforms MSN in both of these areas. However, the adoption of Facebook and abandonment of MSN have occurred for other reasons. Functions can be improved, but users’ willingness to use does not just depend on functionality. Flow status has been established to be crucial to users’ adoption of cyber applications and to affects users’ adoption of software applications. If users experience flow in using software application, they will enjoy using it frequently, and even change their preferred application from an old to this new one. However, no investigation has examined choice behavior related to switching from Facebook to MSN based on a consideration of flow experiences and functions. This investigation discusses the flow experiences and functions of social-networking applications. Flow experience is found to affect perceived ease of use and perceived usefulness; perceived ease of use influences information ex-change with friends, and perceived usefulness; information exchange influences perceived usefulness, but information exchange has no effect on flow experience.

Keywords: consumer behavior, social media, technology acceptance model, flow experience

Procedia PDF Downloads 355

Authors: Sung-Chun Tsai, Li-Fang Chou, Chun-Jung Tseng

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How relational identity of leader-subordinate relationship affects behavior of both parties is getting more and more attentions in recent years. Different from past studies on leader-subordinate relationship taking viewpoint of self-concept or interaction between categories, we took perspective of social cognitive schema with special focus on the cognition structure and category content of the vertical leader-subordinate relationship. This study firstly clarified the dimensions and contents of cognitive structure of vertical leader-subordinate relationship. By using two dimensions of “equal/unequal” and “close/distant”, the contents of the leader-subordinate relational identity (LSRI) are classified into four categories: communal affection RI (equal and close), instrumental exchange RI (equal but distant), care-repay RI (unequal but close), and authority-obedience RI (unequal and distant). Furthermore, according to the four dimensions of leader-subordinate relational identity, we explored: (1) how a leader’s LSRI leads to paternalistic leadership; and (2) how paternalistic leadership affects subordinate’s LSRI. Using 59 work group as sample (59 leaders and 251 subordinates), the results of HLM and regression analysis showed: (1) leader’s LSRI significantly affects leadership behavior: instrumental exchange RI is positively relates to authoritarian leadership behavior, but significantly has negative relationship with benevolent leadership; care-repay RI has significantly positive relationship with authoritative leadership; authority-obedience RI has significantly positive relationship with authoritarian leadership; (2) paternalistic leadership is significantly related to subordinates’ LSRI: benevolent leadership is positively related to subordinate’s communal affection and care-repay RI; authoritative leadership has significantly positive relationship with care-repay and authority-obedience RI; authoritarian leadership has significantly positive relationship with subordinate’s instrumental exchange RI. Finally, the main findings, contributions and limits, future research directions, and implications were also discussed.

Keywords: relational identity, leader-subordinate relational identity (LSRI), relational schema, paternalistic leadership

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Authors: Damien Kunjal, Faeezah Peerbhai

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Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

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Authors: N. Hammid, F. Bouarab-Dahmani, T. Berkane

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Since its appearance, the MOOC (massive open online course) is gaining more and more intention of the educational communities over the world. Apart from the current MOOCs design and purposes, the creators of MOOC focused on the importance of the connection and knowledge exchange between individuals in learning. In this paper, we present a conceptual model for massive open online blended courses where teachers over the world can collaborate and exchange their experience to get a common efficient content designed as a MOOC opened to their students to live a better learning experience. This model is based on disciplines’ concepts capitalization and the detection of the obstacles met by their students when faced with problem situations (exercises, projects, case studies, etc.). This detection is possible by analyzing the frequently of semantic errors committed by the students. The participation of teachers in the design of the course and the attendance by their students can guarantee an efficient and extensive participation (an important number of participants) in the course, the learners’ motivation and the evaluation issues, in the way that the teachers designing the course assess their students. Thus, the teachers review, together with their knowledge, offer a better assessment and efficient connections to their students.

Keywords: massive open online course, MOOC, online learning, e-learning

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Authors: Abdennour Benmakhlouf, Abdelouahab Bentabet

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In this paper, we investigated the athermal pressure behavior of the structural and elastic properties of scheelite BaWO4 phase up to 7 GPa using the ab initio pseudo-potential method. The calculated lattice parameters pressure relation have been compared with the experimental values and found to be in good agreement with these results. Moreover, we present for the first time the investigation of the elastic properties of this compound using the density functional perturbation theory (DFPT). It is shown that this phase is mechanically stable up to 7 GPa after analyzing the calculated elastic constants. Other relevant quantities such as bulk modulus, pressure derivative of bulk modulus, shear modulus; Young’s modulus, Poisson’s ratio, anisotropy factors, Debye temperature and sound velocity have been calculated. The obtained results, which are reported for the first time to the best of the author’s knowledge, can facilitate assessment of possible applications of the title material.

Keywords: pseudo-potential method, pressure, structural and elastic properties, scheelite BaWO4 phase

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Authors: Ana Bilandzic, Marcus Foth, Greg Hearn

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In a narrow sense, innovation is the invention and commercialisation of a new product or service in the marketplace. The literature suggests places that support knowledge exchange and social interaction, e.g. coffee shops, to nurture innovative ideas. With the widespread success of Internet, interpersonal communication and interaction changed. Online platforms complement physical places for idea exchange and innovation – the rise of hybrid, ‘net localities.’ Further, since its introduction in 2003 by Chesbrough, the concept of open innovation received increased attention as a topic in academic research as well as an innovation strategy applied by companies. Open innovation allows companies to seek and release intellectual property and new ideas from outside of their own company. As a consequence, the innovation process is no longer only managed within the company, but it is pursued in a co-creation process with customers, suppliers, and other stakeholders. Quirky.com (Quirky), a company founded by Ben Kaufman in 2009, recognised the opportunity given by the Internet for knowledge exchange and open innovation. Quirky developed an online platform that makes innovation available to everyone. This paper reports on a study that analysed Quirky’s business process in an extended event-driven process chain (eEPC). The aim was to determine how the platform enabled crowdsourced innovation for physical products on the Internet. The analysis reveals that key elements of the business model are based on open innovation. Quirky is an example of how open innovation can support crowdsourced and crowdfunded product ideation, development and selling. The company opened up various stages in the innovation process to its members to contribute in the product development, e.g. product ideation, design, and market research. Throughout the process, members earn influence through participating in the product development. Based on the influence they receive, shares on the product’s turnover. The outcomes of the study’s analysis highlighted certain benefits of open innovation for product development. The paper concludes with recommendations for future research to look into opportunities of open innovation approaches to be adopted by tertiary institutions as a novel way to commercialise research intellectual property.

Keywords: business process, crowdsourced innovation, open innovation, Quirky

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Authors: Moshe Mello, Hilary Rutto, Tumisang Seodigeng

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The accelerating requirement to reach 0% sulfur content in liquid fuels demands researchers to seek efficient alternative technologies to challenge the predicament. In this current study, the adsorption capabilities of modified Cu(I)-Y zeolite were tested for removal of organosulfur compounds (OSC) present in TPO. The π-complexation-based adsorbent was obtained by ion exchanging Y-zeolite with Cu+ cation using liquid phase ion exchange (LPIE). Preparation of the adsorbent involved firstly ion-exchange between Na-Y zeolite with a Cu(NO3)2 aqueous solution of 0.5M for 48 hours followed by reduction of Cu2+ to Cu+. Batch studies for TPO in comparison with model diesel comprising of sulfur compounds such as thiophene (TH), benzothiophene (BTH), dibenzothiophene (DBT) and 4,6-dimethyldibenzothiophe (4,6-DMDBT) showed that modified Cu(I)-Y zeolite is an effective adsorbent for removal of OSC in liquid fuels. The effect of multiple operating conditions such as adsorbent dosage, reaction time and temperature were studied to optimize the process. For model diesel fuel, the selectivity for adsorption of sulfur compounds followed the order 4,6-DMDBT> DBT> BTH> TH. Interpretation of the results was justified using the molecular orbital theory and calculations. Langmuir and Freundlich isotherms were used to predict adsorption of the reaction mixture. The Cu(I)-Y zeolite is fully regeneratable and this is achieved by a simple procedure of blowing the adsorbent with air at 350 °C, followed by reactivation at 450 °C in a rich helium surrounding.

Keywords: adsorption, desulfurization, TPO, zeolite

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Authors: L. Edirisinghe, P. Mukherjee, H. Edirisinghe

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Virtual Container Yard (VCY) is a modern concept that helps to reduce the empty container repositioning cost of carriers. The concept of VCY is based on container interchange between shipping lines. Although this mechanism has been theoretically accepted by the shipping community as a feasible solution, it has not yet achieved the necessary momentum among container shipping lines (CSL). This paper investigates whether there is any legal influence on this industry myopia about the VCY. It is believed that this is the first publication that focuses on the legal aspects of container exchange between carriers. Not much literature on this subject is available. This study establishes with statistical evidence that there is a phobia prevailing in the shipping industry that exchanging containers with other carriers may lead to various legal implications. The complexity of exchange is two faceted. CSLs assume that offering a container to another carrier (obviously, a competitor in terms of commercial context) or using a container offered by another carrier may lead to undue legal implications. This research reveals that this fear is reflected through four types of perceived components, namely: shipping associate; warehouse associate; network associate; and trading associate. These components carry eighteen subcomponents that comprehensively cover the entire process of a container shipment. The statistical explanation has been supported through regression analysis; INCO terms were used to illustrate the shipping process.

Keywords: virtual container yard, legal, maritime law, inventory

Procedia PDF Downloads 164

Authors: Hosein Hamisheh Bahar, Mohammad Hossein Fazel Zarandi, Akbar Esfahanipour

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In this paper, a hybrid expert system is developed by using fuzzy genetic network programming with reinforcement learning (GNP-RL). In this system, the frame-based structure of the system uses the trading rules extracted by GNP. These rules are extracted by using technical indices of the stock prices in the training time period. For developing this system, we applied fuzzy node transition and decision making in both processing and judgment nodes of GNP-RL. Consequently, using these method not only did increase the accuracy of node transition and decision making in GNP's nodes, but also extended the GNP's binary signals to ternary trading signals. In the other words, in our proposed Fuzzy GNP-RL model, a No Trade signal is added to conventional Buy or Sell signals. Finally, the obtained rules are used in a frame-based system implemented in Kappa-PC software. This developed trading system has been used to generate trading signals for ten companies listed in Tehran Stock Exchange (TSE). The simulation results in the testing time period shows that the developed system has more favorable performance in comparison with the Buy and Hold strategy.

Keywords: fuzzy genetic network programming, hybrid expert system, technical trading signal, Tehran stock exchange

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Authors: C. Fortin, D. Tokmeninova, O. Ushakova

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Among 500 Russian universities Skolkovo Institute of Science and Technology (Skoltech) is one of the youngest (established in 2011), quite small and vastly international, comprising 20 percent of international students and 70 percent of faculty with significant academic experience at top-100 universities (QS, THE). The institute has emerged from close collaboration with MIT and leading Russian universities. Skoltech is an entirely English speaking environment. Skoltech curriculum plans of ten Master programs are based on the CDIO learning outcomes model. However, despite the Institute’s unique focus on industrial innovations and startups, one of the main challenges has become an evident large proportion of nearly half of MSc graduates entering PhD programs at Skoltech or other universities rather than industry or entrepreneurship. In order to increase the share of students joining the industrial sector after graduation, Skoltech started implementing a number of unique practices with a focus on employers’ expectations incorporated into the curriculum redesign. In this sense, extended knowledge exchange with industrial partners via collaboration in learning activities, industrial projects and assessments became essential for students’ headway into industrial and entrepreneurship pathways. Current academic curriculum includes the following types of components based on extended knowledge exchange with industrial partners: innovation workshop, industrial immersion, special industrial tracks, MSc defenses. Innovation workshop is a 4 week full time diving into the Skoltech vibrant ecosystem designed to foster innovators, focuses on teamwork, group projects, and sparks entrepreneurial instincts from the very first days of study. From 2019 the number of mentors from industry and startups significantly increased to guide students across these sectors’ demands. Industrial immersion is an exclusive part of Skoltech curriculum where students after the first year of study spend 8 weeks in an industrial company carrying out an individual or team project and are guided jointly by both Skoltech and company supervisors. The aim of the industrial immersion is to familiarize students with relevant needs of Russian industry and to prepare graduates for job placement. During the immersion a company plays the role of a challenge provider for students. Skoltech has started a special industrial track comprising deep collaboration with IPG Photonics – a leading R&D company and manufacturer of high-performance fiber lasers and amplifiers for diverse applications. The track is aimed to train a new cohort of engineers and includes a variety of activities for students within the “Photonics” MSc program. It is expected to be a successful story and used as an example for similar initiatives with other Russian high-tech companies. One of the pathways of extended knowledge exchange with industrial partners is an active involvement of potential employers in MSc Defense Committees to review and assess MSc thesis projects and to participate in defense procedures. The paper will evaluate the effect and results of the above undertaken measures.

Keywords: Curriculum redesign, knowledge exchange model, learning outcomes framework, stakeholder engagement

Procedia PDF Downloads 79

Authors: L. Foudia, K. Haddadi, M. Reffas

Abstract:

First principles study of structural, elastic, electronic and optical properties of the monoclinic perovskite type ScRhO₃ has been reported using the pseudo-potential plane wave method within the local density approximation. The calculated lattice parameters, including the lattice constants and angle β, are in excellent agreement with the available experimental data, which proving the reliability of the chosen theoretical approach. Pressure dependence up to 20 GPa of the single crystal and polycrystalline elastic constants has been investigated in details using the strain-stress approach. The mechanical stability, ductility, average elastic wave velocity, Debye temperature and elastic anisotropy were also assessed. Electronic band structure and density of states (DOS) demonstrated its semiconducting nature showing a direct band gap of 1.38 eV. Furthermore, several optical properties, such as absorption coefficient, reflectivity, refractive index, dielectric function, optical conductivity and electron energy loss function, have been calculated for radiation up to 40 eV.

Keywords: ab-initio, perovskite, DFT, band gap

Procedia PDF Downloads 79

Authors: Dhawal Ladani

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Shell and tube type heat exchangers are predominantly used in heat exchange between two fluids and other applications. This paper projects the optimal design of the pipe used in the heat exchanger in such a way to minimize the vibration occurring in the pipe. Paper also consists of the comparison of the different design of the pipe to get the maximize the heat transfer rate by converting laminar flow into the turbulent flow. By the updated design the vibration in the pipe due to the flow is also decreased. Computational Fluid Dynamics and Thermal Heat Transfer analysis are done to justifying the result. Currently, the straight pipe is used in the shell and tube type of heat exchanger where as per the paper the pipe consists of the curvature along with the pipe. Hence, the heat transfer area is also increased and result in the increasing in heat transfer rate. Curvature type design is useful to create turbulence and minimizing the vibration, also. The result will give the output comparison of the effect of laminar flow and the turbulent flow in the heat exchange mechanism, as well as, inverse effect of the boundary layer in heat exchanger is also justified.

Keywords: heat exchanger, heat transfer rate, laminar and turbulent effect, shell and tube

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Authors: Ibrahim Naeimifar, Omid Naeemifar

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Evaluation of the excavation-induced ground movements is an important design aspect of support systems in urban areas. Geological and geotechnical conditions of an excavation area have significant effects on excavation-induced ground movements and the related damage. This paper is aimed at studying the performance of excavation walls supported by nails in jointed rock medium. The performance of nailed walls is investigated based on evaluating the excavation-induced ground movements. For this purpose, a set of calibrated 2D finite element models is developed by taking into account the nail-rock-structure interactions, the anisotropic properties of jointed rock, and the staged construction process. The results of this paper highlight effects of different parameters such as joint inclinations, the anisotropy of rocks and nail inclinations on deformation parameters of excavation wall supported by nails.

Keywords: finite element, jointed rock, nailing, performance

Procedia PDF Downloads 287

Authors: I. Sin, H. Kim, S. Park

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Fin-tube heat exchangers have grooves inside tubes to improve heat exchange performance. However, during the tube expansion process, heat exchange efficiency is decreased due to large deformation of tube inner grooves. Therefore, the objective of this study is to design a tube expander with groove shapes on its outer surface to minimize deformation of the inner grooves in copper tube expansion for fin-tube heat exchangers. In order to achieve this goal, first, we have tried to calculate tube inner groove deformation by the currently used tube expander without groove shapes on its surface. The tube inner groove deformation was acquired by elastoplastic finite element analysis from the boundary conditions with one tube end fixed and friction between the tube and tube expander (friction coefficient: 0.15). The tube expansion process was simulated by inserting the tube expander into the tube with a speed of 90 mm/s. The analysis results showed that tube inner groove heights were decreased by approximately 8 % from 0.15 mm to 0.138 mm with stress concentrations observed at the groove end, consistent with experimental results. Based on the current results, we are trying to design a novel shape of the tube expander with grooves to further reduce deformation tube inner grooves in copper tube expansion. For this, we will select major design variables of tube expander groove shapes by conducting sensitivity analysis and then optimize the design variables using the Taguchi method.

Keywords: tube expansion, tube expander, heat exchanger, finite element

Procedia PDF Downloads 323

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

Procedia PDF Downloads 97

Authors: Sonali Agarwal

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

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

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Authors: Tugba Yilmaz Aydin, Ergun Guntekin, Murat Aydin

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Effects of heat treatment on the elastic constants of cedar wood (Cedrus libani) were investigated. Specimens were exposed to heat under atmospheric pressure at four different temperatures (120, 150, 180, 210 °C) and three different time levels (2, 5, 8 hours). Three Young’s modulus (EL, ER, ET) and six Poisson ratios (μLR, μLT, μRL, μRT, μTL, μTR) were determined from compression test using bi-axial extensometer at constant moisture content (12 %). Three shear modulus were determined using ultrasound. Six shear wave velocities propagating along the principal axes of anisotropy were measured using EPOCH 650 ultrasonic flaw detector with 1 MHz transverse transducers. The properties of the samples tested were significantly affected by heat treatment by different degree. As a result, softer treatments yielded some amount of increase in Young modulus and shear modulus values, but increase of time and temperature resulted in significant decrease for both values. Poisson ratios seemed insensitive to heat treatment.

Keywords: cedar wood, elastic constants, heat treatment, ultrasound

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Authors: Fahreza, Yudhi Herliansyah, Harnovinsah

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This study aims to examine how management compensation and auditor reputation effect on corporate tax management in banking using a sample banking companies listed in Indonesia Stock Exchange. At first, this study examines how the influence of management compensation on the implementation of tax management that may be made by management in order to improve the performance of the company. Second, this study also examines the effect of auditor reputation conducting audit on the implementation of the tax management. The population used in this study is the banking companies listed in Indonesia Stock Exchange. The method used was purposive sampling because the samples of this study have certain criteria that are tailored to the purpose of the study. Based on purposive sampling method, the number of samples in this study is 28 samples. Hypothesis tested using multiple regression analysis. The results of this study indicate that on the 5 % significance level, management compensation significantly influenced tax management as measured using the proxy book tax gap. Other result is management compensation does not significantly affect the tax management that measured using a proxy GAAP effective tax rate. In addition the auditor's reputation does significantly influence tax management as measured using the proxy book tax gap and GAAP effective tax rate.

Keywords: tax management, management compensation, auditor reputation, corporate characteristic

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Authors: Yi Zhang, Yuan Tian, Jiehua Chen, Sihong Gu

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Chip-scale spin-exchange relaxation free (SERF) atomic magnetometer makes use of millimeter-scale vapor cells micro-fabricated by Micro-electromechanical Systems (MEMS) technique and SERF mechanism, resulting in the characteristics of high spatial resolution and high sensitivity. It is useful for biomagnetic imaging including magnetoencephalography and magnetocardiography. In a prevailing scheme, circularly polarized on-resonance laser beam is adapted for both pumping and probing the atomic polarization. And the magnetic-field-sensitive signal is extracted by transmission laser intensity enhancement as a result of atomic polarization increase on zero field level crossing resonance. The scheme is very suitable for integration, however, the laser amplitude modulation (AM) noise and laser frequency modulation to amplitude modulation (FM-AM) noise is superimposed on the photon shot noise reducing the signal to noise ratio (SNR). To suppress AM and FM-AM noise the paper puts forward a novel scheme which adopts circularly polarized on-resonance light pumping and linearly polarized frequency-detuning laser probing. The transmission beam is divided into transmission and reflection beams by a polarization analyzer, the angle between the analyzer's transmission polarization axis and frequency-detuning laser polarization direction is set to 45°. The magnetic-field-sensitive signal is extracted by polarization rotation enhancement of frequency-detuning laser which induces two beams intensity difference increase as the atomic polarization increases. Therefore, AM and FM-AM noise in two beams are common-mode and can be almost entirely canceled by differential detection. We have carried out an experiment to study our scheme. The experiment reveals that the noise in the differential signal is obviously smaller than that in each beam. The scheme is promising to be applied for developing more sensitive chip-scale magnetometer.

Keywords: atomic magnetometer, chip scale, differential detection, spin-exchange relaxation free

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Authors: Eleonora Sofilda, Ria Amalia, Muhammad Zilal Hamzah

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Foreign direct investment is one of the sources of financing or capital that important for a country, especially for developing countries. This investment also provides a great contribution to development through the transfer of assets, management improving, and transfer of technology in enhancing the economy of a country. In the other side currently in ASEAN countries emerge the interesting phenomenon where some big producers are re-locate their basic production among those countries. This research is aimed to analyze the factors that affect capital inflows of foreign direct investment into the 6 ASEAN countries (Indonesia, Malaysia, Singapore, Thailand, Philippines, and Vietnam) in period 2004-2012. This study uses panel data analysis to determine the factors that affect of foreign direct investment in 6 ASEAN. The factors that affect of foreign direct investment (FDI) are the gross domestic product (GDP), global competitiveness (GCI), interest rate, exchange rate and trade openness (TO). Result of panel data analysis show that three independent variables (GCI, GDP, and TO) have a significant effect to the FDI in 6 ASEAN Countries.

Keywords: foreign direct investment, the gross domestic product, global competitiveness, interest rate, exchange rate, trade openness, panel data analysis

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Authors: Matteo Bonaventura, Giancarlo Giudici

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This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000-2009 at their Initial Public Offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the Discounted Cash Flow (DCF) method. We develop a ‘reverse engineering’ model to discover the short term profitability implied in the offer prices. We show that there is a significant optimistic bias in the estimation of future profitability compared to ex-post actual realization and the mean forecast error is substantially large. Yet we show that such error characterizes also the estimations carried out by analysts evaluating non-IPO companies. The forecast error is larger the faster has been the recent growth of the company, the higher is the leverage of the IPO firm, the more companies issued equity on the market. IPO companies generally exhibit better operating performance before the listing, with respect to comparable listed companies, while after the flotation they do not perform significantly different in term of return on invested capital. Pre-IPO book building activity plays a significant role in partially reducing the forecast error and revising expectations, while the market price of the first day of trading does not contain information for further reducing forecast errors.

Keywords: initial public offerings, DCF, book building, post-IPO profitability drop

Procedia PDF Downloads 351

Authors: L. Foudia, K. Haddadi, M. Reffas

Abstract:

First principles study of structural, elastic, electronic and optical properties of the monoclinic perovskite type ScRhO₃ has been reported using the pseudo-potential plane wave method within the local density approximation. The calculated lattice parameters, including the lattice constants and angle β are in excellent agreement with the available experimental data, which proving the reliability of the chosen theoretical approach. Pressure dependence up to 20 GPa of the single crystal and polycrystalline elastic constants has been investigated in details using the strain-stress approach. The mechanical stability, ductility, average elastic wave velocity, Debye temperature and elastic anisotropy were also assessed. Electronic band structure and density of states (DOS) demonstrated its semiconducting nature showing a direct band gap of 1.38 eV. Furthermore, several optical properties, such as absorption coefficient, reflectivity, refractive index, dielectric function, optical conductivity and electron energy loss function have been calculated for radiation up to 40 eV.

Keywords: ab-initio, perovskite, DFT, band gap.

Procedia PDF Downloads 73

Authors: Md. Afroz Ansari

Abstract:

The Bengal basin is a spectacular example of a peripheral foreland basin formed by the convergence of the Indian plate beneath the Eurasian and Burmese plates. The basin is embraced on three sides; north, west and east by different fault-controlled tectonic features whereas released in the south where the rivers are drained into the Bay of Bengal. The Bengal basin in the eastern part of the Indian subcontinent constitutes the largest fluvio-deltaic to shallow marine sedimentary basin in the world today. This continental basin coupled with the offshore Bengal Fan under the Bay of Bengal forms the biggest sediment dispersal system. The continental basin is continuously receiving the sediments by the two major rivers Ganga and Brahmaputra (known as Jamuna in Bengal), and Meghna (emerging from the point of conflux of the Ganga and Brahmaputra) and large number of rain-fed, small tributaries originating from the eastern Indian Shield. The drained sediments are ultimately delivered into the Bengal fan. The significance of the present study is to delineate the variations in thicknesses of the sediments, different crustal structures, and the mantle lithosphere throughout the onshore-offshore Bengal basin. In the present study, the different crustal/geological units and the shallower mantle lithosphere were delineated by analyzing the Bouguer Gravity Anomaly (BGA) data along two long traverses South-North (running from Bengal fan cutting across the transition offshore-onshore of the Bengal basin and intersecting the Main Frontal Thrust of India-Himalaya collision zone in Sikkim-Bhutan Himalaya) and West-East (running from the Peninsular Indian Shield across the Bengal basin to the Chittagong–Tripura Fold Belt). The BGA map was derived from the analysis of topex data after incorporating Bouguer correction and all terrain corrections. The anomaly map was compared with the available ground gravity data in the western Bengal basin and the sub-continents of India for consistency of the data used. Initially, the anisotropy associated with the thicknesses of the different crustal units, crustal interfaces and moho boundary was estimated through spectral analysis of the gravity data with varying window size over the study area. The 2D density sections along the traverses were finalized after a number of iterations with the acceptable root mean square (RMS) errors. The estimated thicknesses of the different crustal units and dips of the Moho boundary along both the profiles are consistent with the earlier results. Further the results were encouraged by examining the earthquake database and focal mechanism solutions for better understanding the geodynamics. The earthquake data were taken from the catalogue of US Geological Survey, and the focal mechanism solutions were compiled from the Harvard Centroid Moment Tensor Catalogue. The concentrations of seismic events at different depth levels are not uncommon. The occurrences of earthquakes may be due to stress accumulation as a result of resistance from three sides.

Keywords: anisotropy, interfaces, seismicity, spectrum analysis

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Authors: Oladejo S. O, Tomori W. B, Adebayo A. O

Abstract:

The main objective of this research is to identify the geochemical and mineralogical characteristics potential of unexplored tailings around the gold deposit region using spatial statistics and map modeling. Some physicochemical parameters such as pH, redox potential, electrical conductivity, cation exchange capacity, total organic carbon, total organic matter, residual humidity, Cation exchange capacity, and particle size were determined from both the mine drains and tailing samples using standard methods. The physicochemical parameters of tailings ranges obtained were pH (6.0 – 7.3), Eh (−16 - 95 Mev), EC (49 - 156 µS/cm), RH (0.20-2.60%), CEC (3.64-6.45 cmol/kg), TOC (3.57-18.62%), TOM (6.15-22.93%). The geochemical oxide composition were identified using Proton Induced X-ray emission and the results indicated that SiO2>Al2O3>Fe2O3>TiO2>K2O>MgO>CaO>Na2O> P2O5>MnO>Cr2O3>SrO>K2O>P2O5. The major mineralogical components in the tailing samples were determined by quantitative X-ray diffraction techniques using the Rietveld method. Geostatistical relationships among the known points were determined using ArcGIS 10.2 software to interpolate mineral concentration with respect to the study area. The Rietveld method gave a general Quartz value of 73.73-92.76%, IImenite as 0.38-4.77%, Kaolinite group as 3.19-20.83%, Muscovite as 0.77-11.70% with a trace of other minerals. The high percentage of quartz is an indication of a sandy environment with a loose binding site.

Keywords: tailings, geochemical, mineralogy, spatial

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Authors: Alaa H. J. Al-Rkaby, A. Chegenizadeh, H. R. Nikraz

Abstract:

The technique of reinforcing soil is an efficient, reliable and cost-effective alternative way for improving the performance of soil in civil engineering applications. Despite the anisotropic states of stresses induced within soil elements by many geotechnical structures such as footings, highways and offshore, most of the previous studies have been carried out under isotropic conditions. The anisotropic stress state in term of the inclined principal stress and the inequality of the intermediate and minor principal stresses cannot be investigated using conventional devices. Therefore, the advanced hollow cylinder apparatus, used in this work, provides a great opportunity to simulate such anisotropic stress states. To date, very little consideration has been given to how the direction of principal stress α and intermediate principal stress ratio b can affect the performance of the reinforced sand. This study presented that the anisotropic conditions of α and b resulted in significant variations in the deviator stress and volumetric strain of sand reinforced with geosynthetics. Anisotropic effect has been decreased by adding clay content.

Keywords: anisotropy, reinforced sand, direction of principal stress, intermediate principal stress ratio

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Authors: M. H. Shwehdi, S. Raja Mohammad

Abstract:

Recently energy savings have become more pronounced as a result of the world financial crises as well the unstable oil prices. Certainly all entities needs to adapt Energy Conservation and Management Strategies due to high monthly consumption of their spread locations and advancements of its telecom systems. These system improvements necessitate the establishment of more exchange centers as well provide energy savings. This paper investigates the impact of HVAC System Characteristics, Operational Strategies, the impact of Envelope Thermal Characteristics, and energy conservation measures. These are classified under three types of measures i.e. Zero-Investment; Low-Investment and High-Investment Energy Conservation Measures. The study shows that the Energy Conservation Measures (ECMs) pertaining to the HVAC system characteristics and operation represent the highest potential for energy reduction, attention should be given to window thermal and solar radiation characteristics when large window areas are used. The type of glazing system needs to be carefully considered in the early design phase of future buildings. Paper will present the thermal optimization of different size centers in the two hot-dry and hot-humid Saudi Arabian city of Al Khobar, East province.

Keywords: energy conservation, optimization, thermal design, intermittent operation, exchange centers, hot-humid climate, Saudi Arabia

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Authors: Fatemeh Noughani, Seyd Mehdi Sadat

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Medical tourism or travel therapy is travelling from one country to another to be under medical treatment, utilizing the health factors of natural sector like mineral water springs and so on. From 1990s medical tourism around the world developed and grew because of different factors like globalization and free trade in the fields of health services, changes in exchange rates in the world economy (which caused the desirability of Asian countries as a medical tourist attraction) in a way that currently there is a close competition in this field among famous countries in medical services to make them find a desirable place in medical tourism market of the world as a complicated and growing industry in a short time. Perhaps tourism is an attractive industry and a good support for the economy of Iran, if we try to merge oil earnings and tourism industry it would be better and more constructive than putting them in front of each other. Moving from oil toward tourism economy especially medical tourism, must be one of the prospects of Iran's government for the oil industry to provide a few percent of the yearly earnings of the country. Among the achievements in medical tourism we can name the prevention of brain drain to other countries and an increase in employment rate for healthcare staff, increase in foreign exchange earnings of the country because of the tourists' staying and followed by increasing the quality of life and cultural transmission as well as empowering the medical human resources.

Keywords: developing countries, health tourism, quality of life, cultural transmission

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Authors: Maya Safira Dewi

Abstract:

Indonesia is one in the top ten countries most funds flowing into Tax Haven. Illegal funds flowing out of Indonesia reached USD 10.9 billion per year. While the total to 2010 of the Indonesian financial assets are in tax havens from Indonesia amounted to USD 331 billion (Kar and Freitas, 2012). Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are the highest countries that became the location of companies affiliated with the company listed in Indonesia Stock Exchange. The 469 companies listed on the stock exchange there are 128 companies (27.29%) with overseas entities, listed total overseas affiliated companies amounted to 417 firms in 2012 and 415 companies in 2011. The most of the branches or the parent company are located in Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island. Judging from the existing tax provisions in these countries, have corporate tax rates that is lower than Indonesia. Tax avoidance to tax haven countries can be made by using some Strategies. They are transfer pricing, shopping treaty, thin capitalization and the controlled foreign company. Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are tax haven countries which become a tax heaven for Indonesian tax payer. It can be concluded that tax havens are a serious problem for Indonesia, and the need for a more assertive policy establishment and more detail about tax havens.

Keywords: tax avoidance, tax haven, transfer pricing, tax rate, tax payer

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Authors: Bolin Hua

Abstract:

In city governance, various data are involved, including city component data, demographic data, housing data and all kinds of business data. These data reflects different aspects of people, events and activities. Data generated from various systems are different in form and data source are different because they may come from different sectors. In order to reflect one or several facets of an event or rule, data from multiple sources need fusion together. Data from different sources using different ways of collection raised several issues which need to be resolved. Problem of data fusion include data update and synchronization, data exchange and sharing, file parsing and entry, duplicate data and its comparison, resource catalogue construction. Governments adopt statistical analysis, time series analysis, extrapolation, monitoring analysis, value mining, scenario prediction in order to achieve pattern discovery, law verification, root cause analysis and public opinion monitoring. The result of Multi-source data fusion is to form a uniform central database, which includes people data, location data, object data, and institution data, business data and space data. We need to use meta data to be referred to and read when application needs to access, manipulate and display the data. A uniform meta data management ensures effectiveness and consistency of data in the process of data exchange, data modeling, data cleansing, data loading, data storing, data analysis, data search and data delivery.

Keywords: multi-source data fusion, urban comprehensive management, information fusion, government data

Procedia PDF Downloads 392