Search results for: amphawa floating market behavior of the tourists

Authors: Nadia Fatima Zahra Malki

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The world has witnessed a great revolution in to field of technology and communication, especially after the opening of markets (globalization). This has led to a change from traditional marketing, which depends on direct selling and buying, to electronic marketing; consequently, different corporations have adopted this new concept so as to gain time, effort and money for the sake of the customer’s satisfaction. The main reason for this study is to know the impact of electronic marketing on consumer satisfaction in the fields of communication through practical studies of Ooredoo customers, where the descriptive analytical method was used with statistics to analyze the results of the survey. It concluded that e-marketing effectively contributes to customer satisfaction.

Keywords: e-marketing, consumer, consumer behavior, satisfaction

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Authors: Ehsan Kadkhodaie, Shahin Parvar, Soroush Senemar, Mostafa Shriat, Abdolrasoul Malekpour

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The role of oil in supra distribution transformers is so critical and, several standards in determining the quality of oil have been offered. So far, moisture, viscosity and insulation protection of the oil have been measured based on mechanical and chemical methods and systems such as kart fisher, falling ball and TDM 4000 that most of these techniques are destructive and have many problems such as pollution. In this study, due to the properties of oil and also physical behavior of ultrasound wave new method was designed to in the determination of oil indicators including viscosity and moisture. The results show the oil viscosity can be found from the relationship μ = 42.086/√EE and moisture from (PLUS+) = −15.65 (PPM) + 26040 relationship.

Keywords: oil, viscosity, moisture, ultrasonic waves

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Authors: K. Y. Chen, H. Chua, C. W. Kan

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In this study, we will analyze Germany’s environmental situation such as water and air quality and review its environmental policy. In addition, we will collect the yearly environmental data as well as information concerning public environmental investment. Based on the data collect, we try to find out the relationship between public environmental investment and sustainable development in Germany. In addition, after comparing the trend of environmental quality and situation of environmental policy and investment, we may have some conclusions and learnable aspects to refer to. Based upon the data collected, it was revealed that Germany has established a well-developed institutionalization of environmental education. And the ecological culture at school is dynamic and continuous renewal. The booming of green markets in Germany is a very successful experience for learning. The green market not only creates a number of job opportunities, but also helps the government to improve and protect the environment. Acknowledgement: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: Germany, public environmental investment, environment quality, sustainable development

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Authors: Jixiang Zhang, Yanhua Wang

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A dynamic of Bertrand duopoly game is analyzed, where players use different production methods and choose their prices with bounded rationality. The equilibriums of the corresponding discrete dynamical systems are investigated. The stability conditions of Nash equilibrium under a local adjustment process are studied. The stability conditions of Nash equilibrium under a local adjustment process are studied. The stability of Nash equilibrium, as some parameters of the model are varied, gives rise to complex dynamics such as cycles of higher order and chaos. On this basis, we discover that an increase of adjustment speed of bounded rational player can make Bertrand market sink into the chaotic state. Finally, the complex dynamics, bifurcations and chaos are displayed by numerical simulation.

Keywords: Bertrand duopoly model, discrete dynamical system, heterogeneous expectations, nash equilibrium

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Authors: Biswanath Swain

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Ethical relativism, as an ethical perspective, holds that moral worth of a course of action is dependent on a particular space and time. Moral rightness or wrongness of a course of action varies from space to space and from time to time. In short, ethical relativism holds that morality is relative to the context. If we reflect conscientiously on the scope of this perspective, we will find that it is wide-spread amongst the marketers involved in the offshore business. However, the irony is that most of the marketers gone along with ethical relativism in their offshore business have been found to be unsuccessful in terms of loss in market-share and bankruptcy. The upshot is purely self-defeating in nature for the marketers. GSK in China and Nestle Maggi in India are some of the burning examples of that sort. The paper argues and recommends that a marketer, as an alternative, should have recourse to Kantian ethical perspective to deliberate courses of action sensitive to offshore business as Kantian ethical perspective is logically and methodologically sound in nature.

Keywords: business, course of action, Kant, morality, offshore, relativism

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Authors: Christoph Ostermair

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We deal with the effect of correlation between prospects on human decision making under uncertainty as proposed by the comparatively new and promising model of “salience theory of choice under risk”. In this regard, we show that the theory entails the prediction that the inconsistency of choices, known as the Allais paradox, should not be an issue in the context of “real-life decision making”, which typically corresponds to situations of subjective uncertainty. The Allais paradox, probably the best-known anomaly regarding expected utility theory, would then essentially have no practical relevance. If, however, empiricism contradicts this prediction, salience theory might suffer a serious setback. Explanations of the model for variable human choice behavior are mostly the result of a particular mechanism that does not come to play under perfect correlation. Hence, if it turns out that correlation between prospects – as typically found in real-world applications – does not influence human decision making in the expected way, this might to a large extent cost the theory its explanatory power. The empirical literature regarding the Allais paradox under subjective uncertainty is so far rather moderate. Beyond that, the results are hard to maintain as an argument, as the presentation formats commonly employed, supposably have generated so-called event-splitting effects, thereby distorting subjects’ choice behavior. In our own incentivized experimental study, we control for such effects by means of two different choice settings. We find significant event-splitting effects in both settings, thereby supporting the suspicion that the so far existing empirical results related to Allais paradoxes under subjective uncertainty may not be able to answer the question at hand. Nevertheless, we find that the basic tendency behind the Allais paradox, which is a particular switch of the preference relation due to a modified common consequence, shared by two prospects, is still existent both under an event-splitting and a coalesced presentation format. Yet, the modal choice pattern is in line with the prediction of salience theory. As a consequence, the effect of correlation, as proposed by the model, might - if anything - only weaken the systematic choice pattern behind the Allais paradox.

Keywords: Allais paradox, common consequence effect, models of decision making under risk and uncertainty, salience theory

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Authors: Elmo Thiago Lins Cöuras Ford, Valentina Alessandra Carvalho do Vale, Rubens Maribondo do Nascimento, José Ubiragi de Lima Mendes

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Recycling has been greatly stimulated by the market. There are already several products that are produced with recycled materials and various wastes have been studied in various forms of applications. The vast majority of insulation applications in domestic, commercial and industrial systems in the range of low and medium temperatures (up to 180 ° C), using the aggressive nature materials such as glass wool, rock wool, polyurethane, polystyrene. Such materials, while retaining the effectiveness of the heat flux, are disposed as expensive and take years too absorbed by nature. Thus, trying to adapt to a global policy on the preservation of the environment, a study in order to develop an insulating compound of natural / industrial waste and biodegradable materials conducted. Thus, this research presents the development of a composite material based zest tire and latex for thermal and electrical insulation.

Keywords: composite, latex, scrapes tire, insulation, electrical

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Authors: Arnesh Vijay

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Ever since its early introduction in the late 1980s, the mobile industry has been rapidly evolving with each passing year. The development witnessed is not just in its ability to support diverse applications, but also its extension into diverse technological means to access and offer various services to users. Amongst the various technologies present, radio systems have clearly emerged as a strong contender, due to its fine attributes of accessibility, reachability, interactiveness, and cost efficiency. These advancements have no doubt guaranteed unprecedented ease, utility and sophistication to the cell phone users, but caused uncertainty due to the interdependence of various systems, making it extremely complicated to exactly map concepts on to 3GPP (3rd Generation Partnership Project) standards. Although the close interrelation and interdependence of intellectual property rights and mobile standard specifications have been widely acknowledged by the technical and legal community; there, however, is a requirement for clear distinction between the scope and future-proof of inventions to influence standards and its market place adoptability. For this, collaborative work is required between intellectual property professionals, researchers, standardization specialists and country specific legal experts. With the evolution into next generation mobile technology, i.e., to 5G systems, there is a need for further work to be done in this field, which has been felt now more than ever before. Based on these lines, this poster will briefly describe the importance of intellectual property rights in the European market. More specifically, will analyse the role played by intellectual property in various standardization institutes, such as 3GPP (3rd generation partnership project) and ITU (International Telecommunications Union). The main intention: to ensure the scope and purpose is well defined, and concerned parties on all four sides are well informed on the clear significance of good proposals which not only bring economic revenue to the company but those that are capable of improving the technology and offer better services to mankind. The poster will comprise different sections. The first segment begins with a background on the rapidly evolving mobile technology, with a brief insight on the industrial impact of standards and its relation to intellectual property rights. Next, section two will succinctly outline the interplay between patents and standards; explicitly discussing the ever changing and rapidly evolving relationship between the two sectors. Then the remaining sections will examine ITU and its role played in international standards development, touching upon the various standardization process and the common patent policies and related guidelines. Finally, it proposes ways to improve the collaboration amongst various sectors for a more evolved and sophisticated next generation mobile telecommunication system. The sole purpose here is to discuss methods to reduce the gap and enhance the exchange of information between the two sectors to offer advanced technologies and services to mankind.

Keywords: mobile technology, mobile standards, intellectual property rights, 3GPP

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Authors: Jong-Hyo Park, Eunyoung Choi, Jae-Yeon Lim, Seon-Suk Lee, Yeong-Rong Koo, Ji-Ung Kwon, Kyung-Sung Kim, Jong-Ik Lee, Juhan Park, Hyun-Kyu Lee, Won-Kyoung Oh, Jisang Lee, Jiwon Choe

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Due to COVID-19, cyber violence among youths has soared as they spend more time online than before. In contrast to the deepening concerns, measurement tools that can assess the vulnerability of cyber violence in individual youths still need to be supplemented. The measurement tools lack consideration of various factors related to cyber violence among youths. Most of the tools are self-report questionnaires, and these adolescents' self-report questionnaire forms can underestimate the harmful behavior and overestimate the damage experience. Therefore, this study aims to develop a multi-report measurement tool for youths that can reliably measure individuals' ecological factors related to cyber violence. The literature review explored factors related to cyber violence, and the questions were constructed. The face validity of the questions was confirmed by conducting focus group interviews. Exploratory and confirmatory factor analyses (N=671) were also conducted for statistical validation. This study developed a multi-report measurement tool for cyber violence with 161 questions, consisting of six domains: online behavior, cyber violence awareness, victimization-perpetration-witness experience, coping efficacy (individuals, peers, teachers, and parents), psychological characteristics, and pro-social capabilities. In addition to self-report from a youth respondent, this measurement tool includes peers, teachers, and parents reporting for the respondent. It is possible to reliably measure the ecological factors of individual youths who are vulnerable or highly resistant to cyber violence. In schools, teachers could refer to the measurement results for guiding students, better understanding their cyber violence conditions, and assessing their pro-social capabilities. With the measurement results, teachers and police officers could detect perpetrators or victims and intervene immediately. In addition, this measurement tool could analyze the effects of the prevention and intervention programs for cyber violence and draw appropriate suggestions.

Keywords: adolescents, cyber violence, cyber violence measurement tool, measurement tool, multi-report measurement tool, youths

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Authors: Erzsebet Gulyas

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Our inner world, our imagination, and our way of thinking are invisible and inaudible to others, but they influence our behavior. To investigate the relationship between thinking and language use, we created a test in Hungarian using ideas from the literature. The test prompts participants to make decisions based on visual images derived from the written information presented. There is a correlation (r=0.5) between the test result and the self-assessment of the visual imagery vividness and the visual and verbal components of internal representations measured by self-report questionnaires, as well as with responses to language-use inquiries in the background questionnaire. 56 university students completed the tests, and SPSS was used to analyze the data.

Keywords: imagination, internal representations, verbalization, visualization

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: implied adjusted volatility, financial crisis, Leland option pricing models, Australian index options

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Authors: Sunita Boro, Saurabh Kumar Dixit

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Terroir, an intricate fusion of geography, climate, soil, and human expertise, has long been acknowledged as a defining factor in the character of wines and foods. This research embarks on an exploration of terroir's profound influence on gastronomic tourism, shedding light on the intricate interplay between the physical environment and culinary artistry. Delving into the intricate science of terroir, we scrutinize its role in shaping the sensory profiles of wines and foods, emphasizing the profound impact of specific regions on flavor, aroma, and texture. We deploy a multifaceted methodology, amalgamating sensory analysis, chemical profiling, geographical information systems, and qualitative interviews to unearth the nuanced nuances of terroir expression. Through an exhaustive review of the literature, we elucidate the historical roots of terroir, unveil the intricate cultural dimensions shaping it, and provide a comprehensive examination of prior studies in the field. Our findings underscore the pivotal role of terroir in promoting regional identities, enhancing the economic viability of locales, and attracting gastronomic tourists. The paper also dissects the marketing strategies employed to promote terroir-driven food and wine experiences. We elucidate the utilization of storytelling, branding, and collaborative endeavors in fostering a robust terroir-based tourism industry. This elucidates both the potential for innovation and the challenges posed by oversimplification or misrepresentation of terroir. Our research spotlights the intersection of terroir and sustainability, emphasizing the significance of environmentally conscious practices in terroir-driven productions. We discern the harmonious relationship between sustainable agriculture, terroir preservation, and responsible tourism, encapsulating the essence of ecological integrity in gastronomic tourism. Incorporating compelling case studies of regions and businesses excelling in the terroir-based tourism realm, we offer in-depth insights into successful models and strategies, with an emphasis on their replicability and adaptability to various contexts. Ultimately, this paper not only contributes to the scholarly understanding of terroir's role in the world of food and wine tourism but also provides actionable recommendations for stakeholders to leverage terroir's allure, preserve its authenticity, and foster sustainable and enriching culinary tourism experiences.

Keywords: terroir, food tourism, wine tourism, sustainability

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Authors: Albert Acheampong, Tamer Elshandidy

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We investigate the extent to which sustainability disclosure from the narrative section of European banks’ annual reports improves analyst forecast accuracy. We capture sustainability disclosure using a machine learning approach and use forecast error to proxy analyst forecast accuracy. Our results suggest that sustainability disclosure significantly improves analyst forecast accuracy by reducing the forecast error. In a further analysis, we also find that the induction of Directive 2014/95/European Union (EU) is associated with increased disclosure content, which then reduces forecast error. Collectively, our results suggest that sustainability disclosure improves forecast accuracy, and the induction of the new EU directive strengthens this improvement. These results hold after several further and robustness analyses. Our findings have implications for market participants and policymakers.

Keywords: sustainability disclosure, machine learning, analyst forecast accuracy, forecast error, European banks, EU directive

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Authors: Tamam Albelwi, Robert Rogers, Hans-Peter Kubis

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Background: Exercise is widely acknowledged as a highly important health behavior, which reduces risks related to lifestyle diseases like type 2 diabetes, cardiovascular disease. However, exercise adherence is low in high-risk groups and sedentary lifestyle is more the norm than the exception. Expressed reasons for exercise participation are often based on delayed outcomes related to health threats and benefits but also enjoyment. Whether exercise is perceived as rewarding is well established in animal literature but the evidence is sparse in humans. Additionally, the question how stable any reward is perceived with time delays is an important question influencing decision-making (in favor or against a behavior). For the modality exercise, this has not been examined before. We, therefore, investigated the discounting of pre-established self-selected exercise compared with established rewards of food and money with a computer-based discounting paradigm. We hypothesized that exercise will be discounted like an established reward (food and money); however, we expect that the discounting rate is similar to a consumable reward like food. Additionally, we expected that individuals’ characteristics like preferred intensity, physical activity and body characteristics are associated with discount rates. Methods: 71 participants took part in four sessions. The sessions were designed to let participants select their preferred exercise intensity on a treadmill. Participants were asked to adjust their speed for optimizing pleasantness over an exercise period of up to 30 minutes, heart rate and pleasantness rating was measured. In further sessions, the established exercise intensity was modified and tested on perceptual validity. In the last exercise session rates of perceived exertion was measured on the preferred intensity level. Furthermore, participants filled in questionnaires related to physical activity, mood, craving, and impulsivity and answered choice questions on a bespoke computer task to establish discounting rates of their preferred exercise (kex), their favorite food (kfood) and a value-matching amount of money (kmoney). Results: Participants self-selected preferred speed was 5.5±2.24 km/h, at a heart rate of 120.7±23.5, and perceived exertion scale of 10.13±2.06. This shows that participants preferred a light exercise intensity with low to moderate cardiovascular strain based on perceived pleasantness. Computer assessment of discounting rates revealed that exercise was quickly discounted like a consumable reward, no significant difference between kfood and kex (kfood =0.322±0.263; kex=0.223±0.203). However, kmoney (kmoney=0.080±0.02) was significantly lower than the rates of exercise and food. Moreover, significant associations were found between preferred speed and kex (r=-0.302) and between physical activity levels and preferred speed (r=0.324). Outcomes show that participants perceived and discounted self-selected exercise like an established reward (food and money) but was discounted more like consumable rewards. Moreover, exercise discounting was quicker in individuals who preferred lower speeds, being less physically active. This may show that in a choice conflict between exercise and food the delay of exercise (because of distance) might disadvantage exercise as the chosen behavior particular in sedentary people. Conclusion: exercise can be perceived as a reward and is discounted quickly in time like food. Pleasant exercise experience is connected to low to moderate cardiovascular and perceptual strain.

Keywords: delay discounting, exercise, temporal discounting, time perspective

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Authors: Ed de Jong

Abstract:

Avantium is a leading technology development company and a frontrunner in renewable chemistry. Avantium develops disruptive technologies that enable the production of sustainable high value products from renewable materials and actively seek out collaborations and partnerships with like-minded companies and academic institutions globally, to speed up introductions of chemical innovations in the marketplace. In addition, Avantium helps companies to accelerate their catalysis R&D to improve efficiencies and deliver increased sustainability, growth, and profits, by providing proprietary systems and services to this regard. Many chemical building blocks and materials can be produced from biomass, nowadays mainly from 1st generation based carbohydrates, but potential for competition with the human food chain leads brand-owners to look for strategies to transition from 1st to 2nd generation feedstock. The use of non-edible lignocellulosic feedstock is an equally attractive source to produce chemical intermediates and an important part of the solution addressing these global issues (Paris targets). Avantium’s Dawn Technology™ separates the glucose, mixed sugars, and lignin available in non-food agricultural and forestry residues such as wood chips, wheat straw, bagasse, empty fruit bunches or corn stover. The resulting very pure lignin is dense in energy and can be used for energy generation. However, such a material might preferably be deployed in higher added value applications. Bitumen, which is fossil based, are mostly used for paving applications. Traditional hot mix asphalt emits large quantities of the GHG’s CO₂, CH₄, and N₂O, which is unfavorable for obvious environmental reasons. Another challenge for the bitumen industry is that the petrochemical industry is becoming more and more efficient in breaking down higher chain hydrocarbons to lower chain hydrocarbons with higher added value than bitumen. This has a negative effect on the availability of bitumen. The asphalt market, as well as governments, are looking for alternatives with higher sustainability in terms of GHG emission. The usage of alternative sustainable binders, which can (partly) replace the bitumen, contributes to reduce GHG emissions and at the same time broadens the availability of binders. As lignin is a major component (around 25-30%) of lignocellulosic material, which includes terrestrial plants (e.g., trees, bushes, and grass) and agricultural residues (e.g., empty fruit bunches, corn stover, sugarcane bagasse, straw, etc.), it is globally highly available. The chemical structure shows resemblance with the structure of bitumen and could, therefore, be used as an alternative for bitumen in applications like roofing or asphalt. Applications such as the use of lignin in asphalt need both fundamental research as well as practical proof under relevant use conditions. From a fundamental point of view, rheological aspects, as well as mixing, are key criteria. From a practical point of view, behavior in real road conditions is key (how easy can the asphalt be prepared, how easy can it be applied on the road, what is the durability, etc.). The paper will discuss the fundamentals of the use of lignin as bitumen replacement as well as the status of the different demonstration projects in Europe using lignin as a partial bitumen replacement in asphalts and will especially present the results of using Dawn Technology™ lignin as partial replacement of bitumen.

Keywords: biorefinery, wood fractionation, lignin, asphalt, bitumen, sustainability

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Authors: Qitao Xie, Qingquan Zhang, Xiaofei Zhang, Di Tian, Ruixuan Wen, Ting Zhu, Ping Yi, Xin Li

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Inspired by the recent movement of digital currency, we are building a question answering system concerning the subject of cryptocurrency using Bidirectional Encoder Representations from Transformers (BERT). The motivation behind this work is to properly assist digital currency investors by directing them to the corresponding knowledge bases that can offer them help and increase the querying speed. BERT, one of newest language models in natural language processing, was investigated to improve the quality of generated responses. We studied different combinations of hyperparameters of the BERT model to obtain the best fit responses. Further, we created an intelligent chatbot for cryptocurrency using BERT. A chatbot using BERT shows great potential for the further advancement of a cryptocurrency market tool. We show that the BERT neural networks generalize well to other tasks by applying it successfully to cryptocurrency.

Keywords: bidirectional encoder representations from transformers, BERT, chatbot, cryptocurrency, deep learning

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Authors: Aïssa Manallah, Mohamed Bouafia

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Ellipsometry is an optical method based on the study of the behavior of polarized light. The light reflected on a surface induces a change in the polarization state which depends on the characteristics of the material (complex refractive index and thickness of the different layers constituting the device). The purpose of this work is to determine the optical properties of semiconductor thin films by ellipsometry. This paper describes the experimental aspects concerning the semiconductor samples, the SE400 ellipsometer principle, and the results obtained by direct measurements of ellipsometric parameters and modelling using appropriate software.

Keywords: ellipsometry, optical constants, semiconductors, thin films

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Authors: Samhita Mummadi, Sree Divya Nagalli, Harshini Vemuri, Saketh Charan Nakka, Sumesh K. J.

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One of the most significant challenges faced by people in today’s digital era is an alarming increase in fraudulent activities on online platforms. The fascination with online shopping to avoid long queues in shopping malls, the availability of a variety of products, and home delivery of goods have paved the way for a rapid increase in vast online shopping platforms. This has had a major impact on increasing fraudulent activities as well. This loop of online shopping and transactions has paved the way for fraudulent users to commit fraud. For instance, consider a store that orders thousands of products all at once, but what’s fishy about this is the massive number of items purchased and their transactions turning out to be fraud, leading to a huge loss for the seller. Considering scenarios like these underscores the urgent need to introduce machine learning approaches to combat fraud in online shopping. By leveraging robust algorithms, namely KNN, Decision Trees, and Random Forest, which are highly effective in generating accurate results, this research endeavors to discern patterns indicative of fraudulent behavior within transactional data. Introducing a comprehensive solution to this problem in order to empower e-commerce administrators in timely fraud detection and prevention is the primary motive and the main focus. In addition to that, sentiment analysis is harnessed in the model so that the e-commerce admin can tailor to the customer’s and consumer’s concerns, feedback, and comments, allowing the admin to improve the user’s experience. The ultimate objective of this study is to ramp up online shopping platforms against fraud and ensure a safer shopping experience. This paper underscores a model accuracy of 84%. All the findings and observations that were noted during our work lay the groundwork for future advancements in the development of more resilient and adaptive fraud detection systems, which will become crucial as technologies continue to evolve.

Keywords: behavior analysis, feature selection, Fraudulent pattern recognition, imbalanced classification, transactional anomalies

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Authors: Antoaneta Stefanova, Rositsa Gencheva, Pavlin Groudev

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This paper presents an application of the ASTEC V2r3p3 computer code for simulation of QUENCH-12 experiment. The test has been performed to investigate the behavior of VVER type of fuel assemblies during severe accident conditions. In the performed analyses it has been assessed the mass of generated hydrogen during the experiment flooding of overheated core. The comparison of ASTECv2r3p3 calculated results with measured test data shows good agreement.

Keywords: hydrogen production, VVER, QUENCH facility, severe accident, reactor core

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Authors: Isadora Bugarin, Taygoara F. de Oliveira

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Multiphase flows have currently been placed as a key solution for technological advances in energy and thermal sciences. The comprehension of droplet motion and behavior on non-isothermal flows is, however, rather limited. The present work consists of an investigation of a 2D droplet migration on natural convection inside a square enclosure with differentially heated walls. The investigation in question concerns the effects on drop motion of imposing different combinations of Prandtl and Rayleigh numbers while defining the drop on distinct initial positions. The finite differences method was used to compute the Navier-Stokes and energy equations for a laminar flow, considering the Boussinesq approximation. Also, a high order level set method was applied to simulate the two-phase flow. A previous analysis developed by the authors had shown that for fixed values of Rayleigh and Prandtl, the variation of the droplet initial position at the beginning of the simulation delivered different patterns of motion, in which for Ra≥10⁴ the droplet presents two very specific behaviors: it can travel through a helical path towards the center or define cyclic circular paths resulting in closed paths when reaching the stationary regime. Now, when varying the Prandtl number for different Rayleigh regimes, it was observed that this particular parameter also affects the migration of the droplet, altering the motion patterns as its value is increased. On higher Prandtl values, the drop performs wider paths with larger amplitudes, traveling closer to the walls and taking longer time periods to finally reach the stationary regime. It is important to highlight that drastic drop behavior changes on the stationary regime were not yet observed, but the path traveled from the begging of the simulation until the stationary regime was significantly altered, resulting in distinct turning over frequencies. The flow’s unsteady Nusselt number is also registered for each case studied, enabling a discussion on the overall effects on heat transfer variations.

Keywords: droplet migration, level set method, multiphase flow, natural convection in enclosure, Prandtl number

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Authors: Pei-Gi Shu, Yin-Hua Yeh, Chao-Ting Chen

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Using a dataset consisting of 7,120 firm-year observations from the Taiwan stock market over the 2007-2011 sample period, we find a significantly negative relationship between board external connectedness and firm diversification. We propose a learningeffect hypothesis indicating that an externally connected board member’s experiences in other companies directly affect his recommendations regarding the underlying firm’s diversification. The partial correlation between diversification and the performance of firms with externally connected board members is used as a proxy for the learning effect. The empirical results show that the learning effect is asymmetrically embedded in firm diversification, with negative experiences having a greater effect on firm diversification than positive experiences. Externally connected board members are associated with reduced diversification in one firm after they learn that diversification is detrimental to value in other companies. Moreover, the diversification of a firm due to board external connectedness is moderated by the controlling owner’s interest alignment and entrenchment.

Keywords: board, external, connectedness, diversification

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Authors: Mohamed Salah Azzaz, Camel Tanougast, Tarek Hadjem

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In this paper, a new low-cost image encryption technique is proposed and analyzed. The developed chaos-based key generator provides complex behavior and can change it automatically via a random-like switching rule. The designed encryption scheme is called PCSS (Parametric Chaos-based Switching System). The performances of this technique were evaluated in terms of data security and privacy. Simulation results have shown the effectiveness of this technique, and it can thereafter, ready for a hardware implementation.

Keywords: chaos, encryption, security, image

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Authors: Malay Bhattacharyya, Saparya Suresh

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The Correlation Structure associated with a portfolio is subjected to vary across time. Studying the structural breaks in the time-dependent Correlation matrix associated with a collection had been a subject of interest for a better understanding of the market movements, portfolio selection, etc. The current paper proposes a methodology for testing the change in the time-dependent correlation structure of a portfolio in the high dimensional data using the techniques of generalized inverse, singular valued decomposition and multivariate distribution theory which has not been addressed so far. The asymptotic properties of the proposed test are derived. Also, the performance and the validity of the method is tested on a real data set. The proposed test performs well for detecting the change in the dependence of global markets in the context of high dimensional data.

Keywords: correlation structure, high dimensional data, multivariate distribution theory, singular valued decomposition

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Authors: Domagoj Hruska, Drazen Milkovic, Maja Darabos

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This paper empirically investigates the performance of Croatian initial public offerings (IPOs) throughout 20 years period, from 1996 until 2016. By proving the comprehensive evaluation of reasons and consequences of IPO initiatives in Croatia we give analytic evidence on the influence of this corporate action on the development of corporate governance. Furthermore, the paper discusses the relationship between internal and external corporate governance mechanisms in companies that initialize entering the financial markets. The paper will provide a synthesis of evidence of IPO-s in Croatia based on in-depth case studies of 13 cases of IPO-s. The major findings of the paper include identification of reasons for conducting IPO-s and calculation of underpricing effect and change of market capitalization. To the best of the author's knowledge, the results of the paper provide the analytical framework for understanding the impact of IPOs on the corporate governance system in transition countries.

Keywords: corporate governance, Croatia, initial public offering, transition economy

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Authors: Seyed Abolhasan Naeini, Mohammad Mahdi Shojaedin

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Oil leakage from the pipelines and the tanks carrying them, or during oil extraction, could lead to the changes in the characteristics and properties of the soil. In this paper, conducting a series of experimental cyclic triaxial tests, the effects of oil contamination on the liquefaction potential of sandy soils is investigated. The studied specimens are prepared by mixing the Firoozkuh sand with crude oil in 4, 8 and 12 percent by soil dry weight. The results show that the oil contamination up to 8% causes an increase in the soil liquefaction resistance and then with increase in the contamination, the liquefaction resistance decreases.

Keywords: cyclic triaxial test, liquefaction resistance, oil contamination, sandy soil

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Authors: Du Zhiqin

Abstract:

WeChat is an instant messaging service similar to WhatsApp developed by Tencent, one of China's largest and most used Internet service portals. This paper investigates the penetration of WeChat among university students through a questionnaire, analyzes the effect of brand influence, information quality, interactivity, opinions of opinion-leaders, promotion, personal interests on the attitudes of university students towards WeChat marketing. This paper concludes that the penetration rate of WeChat marketing among university students is generally high enough, WeChat has generally been accepted by students as a way for businesses to market their products, and that all the above-mentioned five factors play a positive role in the process of WeChat marketing. It also proposes that businesses could maximize the effect of WeChat marketing by focusing more resources on the increase of brand influence, and the interactivity of WeChat contents and the use of opinions of opinion-leaders.

Keywords: WeChat, university students, marketing, AISAS

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Authors: Bangkit Adhi Nugraha, Bambang Suripto

Abstract:

On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.

Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016

Procedia PDF Downloads 366

Authors: Xavi Vilajosana Guillen, Emilio José Pérez Salgado

Abstract:

This document presents experimental results obtained in a realistic environment using an underwater LoRa link. It aims to analyze the behavior of electromagnetic waves underwater and determine this communication capability. With this it has been tried to empirically evaluate the results obtained in the mathematical model using a commercial device with low cost and low consumption that works at frequency 433Mhz. The mathematical results obtained for wireless communication at 433Mhz underwater indicate that a communication of up to 7.5 m is possible, however experimentally 8 m has been achieved.

Keywords: 433Mhz link, internet of things, LoRa link, underwater communication

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Authors: Serban Stere, Stefan Burciu

Abstract:

The challenging and continuously growing competition in the urban freight transport market emphasizes the need for optimal planning of transportation processes in terms of identifying the solution of consolidating traffic flows in congested urban areas. The aim of the present paper is to present the mathematical framework and propose a methodology of combining urban traffic flows between the distribution centers located at the boundary of a congested urban area. The three scenarios regarding traffic flow between consolidation centers that are taken into consideration in the paper are based on the same characteristics of traffic flows. The scenarios differ in terms of the accessibility of the four consolidation centers given by the infrastructure, the connections between them, and the possibility of consolidating traffic flows for one or multiple destinations. Also, synthetical indicators will allow us to compare the scenarios considered and chose the indicated for our distribution system.

Keywords: distribution system, single and multiple destinations, urban consolidation centers, traffic flow consolidation schemes

Procedia PDF Downloads 145

Authors: Abeba Nigussie Turi, Xiangming Samuel Li

Abstract:

Data-driven business models are more typical for established businesses than early-stage startups that strive to penetrate a market. This paper provided an extensive discussion on the principles of data analytics for early-stage digital entrepreneurial businesses. Here, we developed data-driven decision-making (DDDM) framework that applies to startups prone to multifaceted barriers in the form of poor data access, technical and financial constraints, to state some. The startup DDDM framework proposed in this paper is novel in its form encompassing startup data analytics enablers and metrics aligning with startups' business models ranging from customer-centric product development to servitization which is the future of modern digital entrepreneurship.

Keywords: startup data analytics, data-driven decision-making, data acquisition, data generation, digital entrepreneurship

Procedia PDF Downloads 304