Search results for: consistent and zero stable
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2968

Search results for: consistent and zero stable

2548 Using Agility in Building Business Process Management Solutions

Authors: Krešimir Fertalj, Mladen Matejaš

Abstract:

In turbulent modern economy, the companies need to properly manage their business processes. Well defined and stable business processes ensure the security of crucial data and application, and provide a quality product or service to the end customer. On the other side constant changes on the market, new regulatory provisions and emerging new technologies require the need of issuing prompt and effective changes of business process. In this article, we explore the use of agile principles in working with business process management (BPM) solutions. We deal with difficulties in BPM development cycle, review the benefits of using agility and choose the basic agile principles that ensure the success of a BPM project.

Keywords: agile development, BPM environment, Kanban, SCRUM, XP

Procedia PDF Downloads 299
2547 Leuprolide Induced Scleroderma Renal Crisis: A Case Report

Authors: Nirali Sanghavi, Julia Ash, Amy Wasserman

Abstract:

Introduction: To the best of our knowledge, there is only one case report that found an association between leuprolide and scleroderma renal crisis (SRC). Leuprolide has been noted to cause acute renal failure in some patients. Given the close timing of the leuprolide injection and the worsening renal function in our patient, leuprolide likely caused exacerbation of lupus nephritis and SRC. Interestingly, our patient on long-term hydroxychloroquine (HCQ) with normal baseline cardiac function was found to have HCQ cardiomyopathy highlighting the need for close monitoring of HCQ toxicity. We know that some of the risk factors that are involved in HCQ induced cardiomyopathy are older age, females, increased dose and >10 years of HCQ use, and pre-existing cardiac and renal insufficiency. Case presentation: A 34-year-old African American woman with a history of overlap of systemic lupus erythematosus (SLE) and scleroderma features and class III lupus nephritis presented with severe headaches, elevated blood pressure (180/120 mmHg) and worsening creatinine levels (2.07 mg/dL). The headaches started 1 month ago after she started leuprolide injections for fibroids. She was being treated with mycophenolate mofetil 1 gm twice a day, belimumab weekly, HCQ 200mg, and prednisone 5 mg daily. She has been on HCQ since her teenage years. The examination was unremarkable except for proximal interphalangeal joint contractures in the right hand and sclerodactyly of bilateral hands, unchanged from baseline. Laboratory findings include urinalysis, which showed 3+ protein, 1+ blood, 6 red blood cells, and 14 white blood cells ruling out thrombotic microangiopathy. C3 was 32 mg/dL, C4 <5 mg/dL, and +dsDNA increased >1000. She was started on captopril and discharged once creatinine and blood pressure was controlled. She was readmitted with hypertension, hyperkalemia, worsening creatinine, nephrotic range proteinuria, complaints of chest pressure, and shortness of breath with pleuritic chest pain. Physical examination and lab findings were unchanged. She was treated with pulse dose methyl prednisone followed by taper and multiple anti-hypertensive agents, including captopril, for presumed lupus nephritis flare versus SRC. Renal biopsy was consistent with SRC and class IV lupus nephritis and was started on cyclophosphamide. While cardiac biopsy showed borderline myocarditis without necrosis and cytoplasmic vacuolization consistent with HCQ cardiomyopathy, hence HCQ was discontinued. Summary: It highlights a rare association of leuprolide causing exacerbation of lupus nephritis or SRC. Although rare, the current case reinforces the importance of close monitoring for HCQ toxicity in patients with renal insufficiency.

Keywords: leuprolide, lupus nephritis, scleroderma, SLE

Procedia PDF Downloads 65
2546 An Approach to Specify Software Requirements in Semantic Form

Authors: Deepa Vijay, Chellammal Surianarayanan, Gopinath Ganapathy

Abstract:

Requirements of a software project serve as a guideline for the entire project team which enable the team towards producing the right outcome. As requirements are the key in deciding the success of the project, it should be specified in an unambiguous manner. Also, the requirements should be complete and consistent. It should be interpreted in the same way by the entire software project team as the customer interprets. Specifying requirements in textual manner is common in software development. This leads to poor understanding of the requirements which results in more errors and degraded quality. There are some literatures which focus on semantic way of specifying functional requirement which ensure the consistency and completeness of requirements. Alternately in the work, a method is proposed to map the syntactic requirements with corresponding semantics in the form of ontologies. This improves the understanding of requirements, prevents errors and improves quality.

Keywords: functional requirement, ontology, requirements management, semantics

Procedia PDF Downloads 346
2545 Stability of Power System with High Penetration of Wind Energy: A Comprehensive Review

Authors: Jignesh Patel, Satish K. Joshi

Abstract:

This paper presents the literature review on the works done so far in the area of stability of power system with high penetration of Wind Power with other conventional power sources. Out of many problems, the voltage and frequency stability is of prime concern as it is directly related with the stable operation of power system. In this paper, different aspects of stability of power system, particularly voltage and frequency, Optimization of FACTS-Energy Storage devices is discussed.

Keywords: small singal stability, voltage stability, frequency stability, LVRT, wind power, FACTS

Procedia PDF Downloads 458
2544 Synthesis of Porphyrin-Functionalized Beads for Flow Cytometry

Authors: William E. Bauta, Jennifer Rebeles, Reggie Jacob

Abstract:

Porphyrins are noteworthy in biomedical science for their cancer tissue accumulation and photophysical properties. The preferential accumulation of some porphyrins in cancerous tissue has been known for many years. This, combined with their characteristic photophysical and photochemical properties, including their strong fluorescence and their ability to generate reactive oxygen species in vivo upon laser irradiation, has led to much research into the application of porphyrins as cancer diagnostic and therapeutic agents. Porphyrins have been used as dyes to detect cancer cells both in vivo and, less commonly, in vitro. In one example, human sputum samples from lung cancer patients and patients without the disease were dissociated and stained with the porphyrin TCPP (5,10,15,20-tetrakis-(4-carboxyphenyl)-porphine). Cells were analyzed by flow cytometry. Cancer samples were identified by their higher TCPP fluorescence intensity relative to the no-cancer controls. However, quantitative analysis of fluorescence in cell suspensions stained with multiple fluorophores requires particles stained with each of the individual fluorophores as controls. Fluorescent control particles must be compatible in size with flow cytometer fluidics and have favorable hydrodynamic properties in suspension. They must also display fluorescence comparable to the cells of interest and be stable upon storage amine-functionalized spherical polystyrene beads in the 5 to 20-micron diameter range that was reacted with TCPP and EDC in aqueous pH six buffer overnight to form amide bonds. Beads were isolated by centrifugation and tested by flow cytometry. The 10-micron amine-functionalized beads displayed the best combination of fluorescence intensity and hydrodynamic properties, such as lack of clumping and remaining in suspension during the experiment. These beads were further optimized by varying the stoichiometry of EDC and TCPP relative to the amine. The reaction was accompanied by the formation of a TCPP-related particulate, which was removed, after bead centrifugation, using a microfiltration process. The resultant TCPP-functionalized beads were compatible with flow cytometry conditions and displayed a fluorescence comparable to that of stained cells, which allowed their use as fluorescence standards. The beads were stable in refrigerated storage in the dark for more than eight months. This work demonstrates the first preparation of porphyrin-functionalized flow cytometry control beads.

Keywords: tetraaryl porphyrin, polystyrene beads, flow cytometry, peptide coupling

Procedia PDF Downloads 67
2543 Theoretical and Experimental Investigation of Fe and Ni-TCNQ on Graphene

Authors: A. Shahsavar, Z. Jakub

Abstract:

Due to the outstanding properties of the 2D metal-organic frameworks (MOF), intensive computational and experimental studies have been done. However, the lack of fundamental studies of MOFs on the graphene backbone is observed. This work studies Fe and Ni as metal and tetracyanoquinodimethane (TCNQ) with a high electron affinity as an organic linker functionalized on graphene. Here we present DFT calculations results to unveil the electronic and magnetic properties of iron and nickel-TCNQ physisorbed on graphene. Adsorption and Fermi energies, structural, and magnetic properties will be reported. Our experimental observations prove Fe- and NiTCNQ@Gr/Ir(111) are thermally highly stable up to 500 and 250°C, respectively, making them promising materials for single-atom catalysts or high-density storage media.

Keywords: DFT, graphene, MTCNQ, self-assembly

Procedia PDF Downloads 82
2542 Design Analysis of Solar Energy Panels for Tropical Nigeria

Authors: Cyril Agochi Okorowo

Abstract:

More than ever human activity relating to uncontrolled greenhouse gas (GHG) and its effects on the earth is gaining greater attention in the global academic and policy discussions. Activities of man have greatly influenced climate change over the years as a result of a consistent increase in the use of fossil fuel energy. Scientists and researchers globally are making significant and devoted efforts towards the development and implementation of renewable energy technologies that are harmless to the environment. One of such energy is solar energy with its source from the sun. There are currently two primary ways of harvesting this energy from the sun: through photovoltaic (PV) panels and through thermal collectors. This work discusses solar energy as the abundant renewable energy in the tropical Nigeria, processes of harvesting the energy and recommends solar energy as an alternative means of electric power generation in a time the demand for power in Nigeria supersedes supply.

Keywords: analysis, energy, design, solar

Procedia PDF Downloads 261
2541 Adaptive Nonparametric Approach for Guaranteed Real-Time Detection of Targeted Signals in Multichannel Monitoring Systems

Authors: Andrey V. Timofeev

Abstract:

An adaptive nonparametric method is proposed for stable real-time detection of seismoacoustic sources in multichannel C-OTDR systems with a significant number of channels. This method guarantees given upper boundaries for probabilities of Type I and Type II errors. Properties of the proposed method are rigorously proved. The results of practical applications of the proposed method in a real C-OTDR-system are presented in this report.

Keywords: guaranteed detection, multichannel monitoring systems, change point, interval estimation, adaptive detection

Procedia PDF Downloads 423
2540 A Trapezoidal-Like Integrator for the Numerical Solution of One-Dimensional Time Dependent Schrödinger Equation

Authors: Johnson Oladele Fatokun, I. P. Akpan

Abstract:

In this paper, the one-dimensional time dependent Schrödinger equation is discretized by the method of lines using a second order finite difference approximation to replace the second order spatial derivative. The evolving system of stiff ordinary differential equation (ODE) in time is solved numerically by an L-stable trapezoidal-like integrator. Results show accuracy of relative maximum error of order 10-4 in the interval of consideration. The performance of the method as compared to an existing scheme is considered favorable.

Keywords: Schrodinger’s equation, partial differential equations, method of lines (MOL), stiff ODE, trapezoidal-like integrator

Procedia PDF Downloads 391
2539 Solar Energy: The Alternative Electric Power Resource in Tropical Nigeria

Authors: Okorowo Cyril Agochi

Abstract:

More than ever human activity relating to uncontrolled greenhouse gas (GHG) and its effects on the earth is gaining greater attention in the global academic and policy discussions. Activities of man has greatly influenced climate change over the years as a result of consistent increase in the use of fossil fuel energy. Scientists and researchers globally are making significant and devoted efforts towards the development and implementation of renewable energy technologies that are harmless to the environment. One of such energy is solar energy with its source from the sun. There are currently two primary ways of harvesting this energy from the sun: through photovoltaic (PV) panels and through thermal collectors. This work discuses solar energy the abundant renewable energy in the tropical Nigeria, processes of harvesting and recommends same as an alternative means of electric power generation in a time the demand for power supersedes supply.

Keywords: electric, power, renewable energy, solar energy, sun, tropical

Procedia PDF Downloads 516
2538 Minimum Data of a Speech Signal as Special Indicators of Identification in Phonoscopy

Authors: Nazaket Gazieva

Abstract:

Voice biometric data associated with physiological, psychological and other factors are widely used in forensic phonoscopy. There are various methods for identifying and verifying a person by voice. This article explores the minimum speech signal data as individual parameters of a speech signal. Monozygotic twins are believed to be genetically identical. Using the minimum data of the speech signal, we came to the conclusion that the voice imprint of monozygotic twins is individual. According to the conclusion of the experiment, we can conclude that the minimum indicators of the speech signal are more stable and reliable for phonoscopic examinations.

Keywords: phonogram, speech signal, temporal characteristics, fundamental frequency, biometric fingerprints

Procedia PDF Downloads 114
2537 Spatial Cognition and 3-Dimensional Vertical Urban Design Guidelines

Authors: Hee Sun (Sunny) Choi, Gerhard Bruyns, Wang Zhang, Sky Cheng, Saijal Sharma

Abstract:

The main focus of this paper is to propose a comprehensive framework for the cognitive measurement and modelling of the built environment. This will involve exploring and measuring neural mechanisms. The aim is to create a foundation for further studies in this field that are consistent and rigorous. Additionally, this framework will facilitate collaboration with cognitive neuroscientists by establishing a shared conceptual basis. The goal of this research is to develop a human-centric approach for urban design that is scientific and measurable, producing a set of urban design guidelines that incorporate cognitive measurement and modelling. By doing so, the broader intention is to design urban spaces that prioritize human needs and well-being, making them more liveable.

Keywords: vertical urbanism, human centric design, spatial cognition and psychology, vertical urban design guidelines

Procedia PDF Downloads 51
2536 Owner/Managers’ External Financing Used and Preference towards Islamic Banking

Authors: Khalid Hassan Abdesamed, Kalsom Abd Wahab

Abstract:

Economic development and growth are significantly linked to the consistent and sustainable sector of small and medium enterprises (SMEs). Banks are the frontrunners in financing and advising SMEs. The main objective of the study is to assess the tendency of SMEs to use the Islamic bank. Model was developed using quantitative method with a hypothetical-deductive testing approach. Model (N = 364) used primary data on the tendency of SMEs to use Islamic banks gathered from questionnaire. It is found by Mann-Whitney test that the tendency to use Islamic bank varies between those firms which consider formal financing with the ones relying on informal financing with the latter tends more to use Islamic bank. This study can serve academic researchers, policy makers, and developing countries as a model of SMEs’ desirability to Islamic banking.

Keywords: formal financing, informal financing, Islamic bank, SMEs

Procedia PDF Downloads 332
2535 Dividend Initiations and IPO Long-Run Performance

Authors: Nithi Sermsiriviboon, Somchai Supattarakul

Abstract:

Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms.

Keywords: dividend, initial public offerings, long-run performance, finance

Procedia PDF Downloads 210
2534 Selecting the Best RBF Neural Network Using PSO Algorithm for ECG Signal Prediction

Authors: Najmeh Mohsenifar, Narjes Mohsenifar, Abbas Kargar

Abstract:

In this paper, has been presented a stable method for predicting the ECG signals through the RBF neural networks, by the PSO algorithm. In spite of quasi-periodic ECG signal from a healthy person, there are distortions in electro cardiographic data for a patient. Therefore, there is no precise mathematical model for prediction. Here, we have exploited neural networks that are capable of complicated nonlinear mapping. Although the architecture and spread of RBF networks are usually selected through trial and error, the PSO algorithm has been used for choosing the best neural network. In this way, 2 second of a recorded ECG signal is employed to predict duration of 20 second in advance. Our simulations show that PSO algorithm can find the RBF neural network with minimum MSE and the accuracy of the predicted ECG signal is 97 %.

Keywords: electrocardiogram, RBF artificial neural network, PSO algorithm, predict, accuracy

Procedia PDF Downloads 599
2533 Empirical Investigation of the Ecoprint Technique and Natural Dyes Using Geranium and Petunia Petals in a Sustainable Way

Authors: María Rojo Granados

Abstract:

This work presents an empirical investigation of the performance of pink and purple petunia petals and orange and red geranium petals on a linen fabric using the Eco Print technique. This theoretical and practical approach represents an advance in the textile world towards sustainable dyeing and printing methods. It is understood that the possibility of mass printing or dyeing through these methods in fashion is complex, but it can be an approach toward a more sustainable industry. The research consists of twenty-two empirical tests where different processes and methods are applied and explained at different temperatures and using different mordants. The test results allow the selection of which printing and dyeing methods can be applied to the fashion industry in an environmentally consistent way.

Keywords: dyeing, empirical tests, petals, performance, printing, sustainably

Procedia PDF Downloads 72
2532 Italian Central Guarantee Fund: An Analysis of the Guaranteed SMEs’ Default Risk

Authors: M. C. Arcuri, L. Gai, F. Ielasi

Abstract:

Italian Central Guarantee Fund (CGF) has the purpose to facilitate Small and Medium-sized Enterprises (SMEs)’ access to credit. The aim of the paper is to study the evaluation method adopted by the CGF with regard to SMEs requiring its intervention. This is even more important in the light of the recent CGF reform. We analyse an initial sample of more than 500.000 guarantees from 2012 to 2018. We distinguish between a counter-guarantee delivered to a mutual guarantee institution and a guarantee directly delivered to a bank. We investigate the impact of variables related to the operations and the SMEs on Altman Z’’-score and the score consistent with CGF methodology. We verify that the type of intervention affects the scores and the initial condition changes with the new assessment criterions. 

Keywords: banks, default risk, Italian guarantee fund, mutual guarantee institutions

Procedia PDF Downloads 152
2531 Investigation on Performance of Optical Shutter Panels for Transparent Displays

Authors: Jaehong Kim, Sunhee Park, HongSeop Shin, Kyongho Lim, Suhyun Kwon, Don-Gyou Lee, Pureum Kim, Moojong Lim, JongSang Baek

Abstract:

Transparent displays with OLEDs are the most commonly produced forms of see-through displays on the market or in development. In order to block the visual interruption caused by the light coming from the background, the special panel is combined with transparent displays with OLEDs. There is, however, few studies performance of optical shutter panel for transparent displays until now. This paper, therefore, describes the performance of optical shutter panels. The novel evaluation method was developed by measuring the amount of light which can form a transmitted background image. The new proposed method could tell how recognizable transmitted background images cannot be seen, and is consistent with viewer’s perception.

Keywords: optical shutter panel, optical performance, transparent display, visual interruption

Procedia PDF Downloads 506
2530 Blind Data Hiding Technique Using Interpolation of Subsampled Images

Authors: Singara Singh Kasana, Pankaj Garg

Abstract:

In this paper, a blind data hiding technique based on interpolation of sub sampled versions of a cover image is proposed. Sub sampled image is taken as a reference image and an interpolated image is generated from this reference image. Then difference between original cover image and interpolated image is used to embed secret data. Comparisons with the existing interpolation based techniques show that proposed technique provides higher embedding capacity and better visual quality marked images. Moreover, the performance of the proposed technique is more stable for different images.

Keywords: interpolation, image subsampling, PSNR, SIM

Procedia PDF Downloads 547
2529 A Phenomenological Expression for Self-Attractive Energy of Singlelayer Graphene Sheets

Authors: Bingjie Wu, C. Q. Ru

Abstract:

The present work studies several reasonably expected candidate integral forms for self-attractive potential energy of a free monolayer graphene sheet. The admissibility of a specific integral form for ripple formation is verified, while all others most of the candidate integral forms are rejected based on the non-existence of stable periodic ripples. Based on the selected integral form of self-attractive potential energy, some mechanical behavior, including ripple formation and buckling, of a free monolayer grapheme sheet are discussed in details

Keywords: graphene, monolayer, ripples, van der Waals energy

Procedia PDF Downloads 372
2528 Erectile Dysfunction in A Middle Aged Man 6 Years After Bariatric Surgery: A Case Report

Authors: Thaminda Liyanage, Chamila Shamika Kurukulasuriya

Abstract:

Introduction: Morbid obesity has been successfully treated with bariatric surgery for over 60 years. Although operative procedures have improved and associated complications have reduced substantially, surgery still carries the risk of post-operative malabsorption, malnutrition and a range of gastrointestinal disorders. Overweight by itself can impair libido in both sexes and cause erectile dysfunction in males by inducing a state of hypogonadotropic hypogonadism, proportional to the degree of obesity. Impact of weight reduction on libido and sexual activity remains controversial, however it is broadly accepted that weight loss improves sexual drive. Zinc deficiency, subsequent to malabsorption, may lead to impaired testosterone synthesis in men while excessive and/or rapid weight loss in females may result in reversible amenorrhoea leading to sub-fertility. Methods: We describe a 37 year old male, 6 years post Roux-en-Y gastric bypass surgery, who presented with erectile dysfunction, loss of libido, worsening fatigue and generalized weakness for 4 months. He also complained of constipation and frequent muscle cramps but denied having headache, vomiting or visual disturbances. Patient had lost 38 kg of body weight post gastric bypass surgery over four years {135kg (BMI 42.6 kg/m2) to 97 kg (BMI 30.6 kg/m2)} and the weight had been stable for past two years. He had no recognised co-morbidities at the time of the surgery and noted marked improvement in general wellbeing, physical fitness and psychological confident post surgery, up until four months before presentation. Clinical examination revealed dry pale skin with normal body hair distribution, no thyroid nodules or goitre, normal size testicles and normal neurological examination with no visual field defects or diplopia. He had low serum testosterone, follicular stimulating hormone (FSH), luteinizing hormone (LH), T3, T4, thyroid stimulating hormone (TSH), insulin like growth factor 1 (IGF-1) and 24-hour urine cortisol levels. Serum cortisol demonstrated an appropriate rise to ACTH stimulation test but growth hormone (GH) failed increase on insulin tolerance test. Other biochemical and haematological studies were normal, except for low zinc and folate with minimally raised liver enzymes. MRI scan of the head confirmed a solid pituitary mass with no mass effect on optic chiasm. Results: In this patient clinical, biochemical and radiological findings were consistent with anterior pituitary dysfunction. However, there were no features of raised intracranial pressure or neurological compromise. He was commenced on appropriate home replacement therapy and referred for neurosurgical evaluation. Patient reported marked improvement in his symptoms, specially libido and erectile dysfunction, on subsequent follow up visits. Conclusion: Sexual dysfunction coupled with non specific constitutional symptoms has multiple aetiologies. Clinical symptoms out of proportion to nutritional deficiencies post bariatric surgery should be thoroughly investigated. Close long term follow up is crucial for overall success.

Keywords: obesity, bariatric surgery, erectile dysfunction, loss of libido

Procedia PDF Downloads 266
2527 Synthesis and Characterization of Zeolite/Fe3O4 Nanocomposite Material and Investigation of Its Catalytic Reaction

Authors: Mojgan Zendehdel, Safura Molla Mohammad Zamani

Abstract:

In this paper, Fe3O4/NaY zeolite nanocomposite with different molar ratio were successfully synthesized and characterized using FT-IR, XRD, TGA, SEM and VSM techniques. The SEM graphs showed that much of Fe3O4 was successfully coated by the NaY zeolite layer. Also, the results show that the magnetism of the products is stable with added zeolite. The catalytic effect of nanocomposite investigated for esterification reaction under solvent-free conditions. Hence, the effect of the catalyst amount, reaction time, reaction temperature and reusability of catalyst were considered and nanocomposite that created from zeolite and 16.6 percent of Fe3O4 showed the highest yield. The catalyst can be easily separated from reaction with the magnet and it can also be used for several times.

Keywords: zeolite, magnetic, nanocompsite, esterification

Procedia PDF Downloads 433
2526 Impact Characteristics of Fragile Cover Based on Numerical Simulation and Experimental Verification

Authors: Dejin Chen, Bin Lin, Xiaohui LI, Haobin Tian

Abstract:

In order to acquire stable impact performance of cover, the factors influencing the impact force of the cover were analyzed and researched. The influence of impact factors such as impact velocity, impact weight and fillet radius of warhead was studied by Orthogonal experiment. Through the range analysis and numerical simulation, the results show that the impact velocity has significant influences on impact force of cover. The impact force decreases with the increase of impact velocity and impact weight. The test results are similar to the numerical simulation. The cover broke up into four parts along the groove.

Keywords: fragile cover, numerical simulation, impact force, epoxy foam

Procedia PDF Downloads 237
2525 The Superior Performance of Investment Bank-Affiliated Mutual Funds

Authors: Michelo Obrey

Abstract:

Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.

Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank

Procedia PDF Downloads 160
2524 TELUM Land Use Model: An Investigation of Data Requirements and Calibration Results for Chittenden County MPO, U.S.A.

Authors: Georgia Pozoukidou

Abstract:

TELUM software is a land use model designed specifically to help metropolitan planning organizations (MPOs) prepare their transportation improvement programs and fulfill their numerous planning responsibilities. In this context obtaining, preparing, and validating socioeconomic forecasts are becoming fundamental tasks for an MPO in order to ensure that consistent population and employment data are provided to travel demand models. Chittenden County Metropolitan Planning Organization of Vermont State was used as a case study to test the applicability of TELUM land use model. The technical insights and lessons learned from the land use model application have transferable value for all MPOs faced with land use forecasting development and transportation modelling.

Keywords: calibration data requirements, land use models, land use planning, metropolitan planning organizations

Procedia PDF Downloads 270
2523 Investigation of VN/TiN Multilayer Coatings on AZ91D Mg Alloys

Authors: M. Ertas, A. C. Onel, G. Ekinci, B. Toydemir, S. Durdu, M. Usta, L. Colakerol Arslan

Abstract:

To develop AZ91D magnesium alloys with improved properties, we have applied TiN and VN/TiN multilayer coatings using DC magnetron sputter technique. Coating structure, surface morphology, chemical bonding and corrosion resistance of coatings were analyzed by x-ray diffraction (XRD), scanning electron microscope (SEM), x-ray photoelectron spectroscopy (XPS), and tafel extrapolation method, respectively. XPS analysis reveal that VN overlayer reacts with oxygen at the VN/TiN interface and forms more stable TiN layer. Morphological investigations and the corrosion results show that VN/TiN multilayer thin film coatings are quite effective to optimize the corrosion resistance of Mg alloys.

Keywords: AZ91D Mg alloys, high corrosion resistance, transition metal nitride coatings, magnetron sputter

Procedia PDF Downloads 452
2522 Investigation on Optical Performance of Operational Shutter Panels for Transparent Displays

Authors: Jaehong Kim, Sunhee Park, HongSeop Shin, Kyongho Lim, Suhyun Kwon, Don-Gyou Lee, Pureum Kim, Moojong Lim, JongSang Baek

Abstract:

Transparent displays with OLEDs are the most commonly produced forms of see-through displays on the market or in development. In order to block the visual interruption caused by the light coming from the background, the special panel is combined with transparent displays with OLEDs. There is, however, few studies optical performance of operational shutter panel for transparent displays until now. This paper, therefore, describes the optical performance of operational shutter panels. The novel evaluation method was developed by measuring the amount of light which can form a transmitted background image. The new proposed method could tell how recognize transmitted background images cannot be seen, and is consistent with viewer’s perception.

Keywords: transparent display, operational shutter panel, optical performance, OLEDs

Procedia PDF Downloads 418
2521 Adsorption of Congo Red on MgO Nanoparticles Prepared by Molten Salt Method

Authors: Shahbaa F. Bdewi, Bakhtyar K. Aziz, Ayad A. R. Mutar

Abstract:

Nano-materials show different surface properties due to their high surface area and active sites. This study investigates the feasibility of using nano-MgO (NMO) for removing Congo red (CR) dye from wastewater. NMO was prepared by molten salt method. Equilibrium experiments show the equilibrium was reached after 120 minutes and maximum adsorption efficiency was obtained in acidic media up to pH 6. Isotherm studies revealed the favorability of the adsorption process. The overall adsorption process was spontaneous and endothermic in nature with a maximum adsorption capacity of 1100 mg g-1 at 40°C as estimated from Langmuir isotherm. The adsorption kinetics was found to follow pseudo second-order rate equation. Relatively high activation energy (180.7 kJ mol-1) was obtained which is consistent with chemisorption mechanism for the adsorption process.

Keywords: adsorption, congo red, magnesium oxide, nanoparticles

Procedia PDF Downloads 190
2520 The Role of Management Information Systems in the Strategic Management of Institutions of Higher Education

Authors: Szilvia Vincze, Zoltán Bács

Abstract:

It has become increasingly important for institutions of higher education as well to use available resources as effectively as possible for the implementation of the institution’s strategic plans and, at the same time, to ensure a stable future. This is the responsibility of the management and administration of the institution. Having access to complete and comprehensive information is indispensable for making dynamic and well-founded decisions that consider the realization of objectives to be primary and that manage possibly emerging risks, etc. The present paper introduces the role of Management Information Systems (MIS) at the University of Debrecen, one of the largest institutions of higher education in Hungary, and also discusses the utilization of this and associated information systems in management functions.

Keywords: management information system (MIS), higher education, Hungary, strategy formulation

Procedia PDF Downloads 475
2519 Design and Implementation of Wave-Pipelined Circuit Using Reconfigurable Technique

Authors: Adhinarayanan Venkatasubramanian

Abstract:

For design of high speed digital circuit wave pipeline is the best approach this can be operated at higher operating frequencies by adjusting clock periods and skews so as latch the o/p of combinational logic circuit at the stable period. In this paper, there are two methods are proposed in automation task one is BIST (Built in self test) and second method is Reconfigurable technique. For the above two approaches dedicated AND gate (multiplier) by applying wave pipeline technique. BIST approach is implemented by Xilinx Spartan-II device. In reconfigurable technique done by ASIC. From the results, wave pipeline circuits are faster than nonpipeline circuit and area, power dissipation are reduced by reconfigurable technique.

Keywords: SOC, wave-pipelining, FPGA, self-testing, reconfigurable, ASIC

Procedia PDF Downloads 405