Search results for: casual relationship model

Authors: Bi-Huei Tsai

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Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightly-distressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models, are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the two-stage model incorporating financial ratios, corporate governance and market factors has the lowest misclassification error rate. The two-stage model is more accurate than the one-stage model as its distressed cut-off indicators are adjusted according to the macroeconomic-based credit cycle index.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy

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Authors: Khalid Abdullah Alshuhail, Syrif Junidi, Ideisan Abu-Abdoum, Abdulsalam Aldawoud

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For the intention of reducing energy consumption, a proposed construction brick was made of imitation termite mound soil referred here as termite brick (TB). To calculate the thermal performance, a real case model was constructed by using this biomimetic brick for testing purposes. This paper aims at investigating the thermal performance of this brick during different climatic months. Its thermal behaviour was thoroughly studied over the course of four months by using continuous method (CMm). The main parameters were focused on temperature and relative humidity. It was found that the TB does not perform similarly in all four months and/or in all orientations. Each four-month model study was deeply analyzed. By using the CMm method, the model was also examined. The measuring period shows generally that internal temperature and internal humidity are higher in the roof within 2 degrees and lowest at north wall orientation. The relative humidity was also investigated systematically. The paper reveals more interesting findings.

Keywords: building material, continious monitoring, orientation, wall, temprature

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Authors: Abhimanyu Pati, Prabir K. Bandyopadhyay

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The paper intends to highlight the significance of Digital Manufacturing (DM) strategy in support and achievement of business strategy and goals of any manufacturing organization. Towards this end, DM initiatives have been given a process perspective, while not undermining its technological significance, with a view to link its benefits directly with fulfilment of customer needs and expectations in a responsive and cost-effective manner. A digital process model has been proposed to categorize digitally enabled organizational processes with a view to create synergistic groups, which adopt and use digital tools having similar characteristics and functionalities. This will throw future opportunities for researchers and developers to create a unified technology environment for integration and orchestration of processes. Secondly, an effort has been made to apply “what” and “how” features of Quality Function Deployment (QFD) framework to establish the relationship between customers’ needs – both for external and internal customers, and the features of various digital processes, which support for the achievement of these customer expectations. The paper finally concludes that in the present highly competitive environment, business organizations cannot thrive to sustain unless they understand the significance of digital strategy and integrate it with their business strategy with a clearly defined implementation roadmap. A process-oriented approach to DM strategy will help business executives and leaders to appreciate its value propositions and its direct link to organization’s competitiveness.

Keywords: knowledge management, cloud computing, knowledge management approaches, cloud-based knowledge management

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Authors: Hieu Duy Nguyen, Chitsan Lin Jr., Dung Duc Tran

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Nowadays, drought and salinity intrusion becomes a severe problem in the Lower Mekong region due to climate change, especially in coastal provinces. Freshwater resources are decreased due to sea-level rise and the decline in water flow from upstream in the dry season. The combination of the above issues can lead to many effects on the environment and human health in affected areas such as the pathological of digestive or decreased the immune system. Tidal cycle and upstream flows are the two main factors affecting the saline intrusion process and the former salt-wedge in the estuary. Under suitable conditions, salt-wedge can be going further upstream under the water surface and affected groundwater. In order to have a proper plan for the mitigation of the above adverse effects, we need to understand the characteristics of this process. In this study, 3D model is used to investigate the movement of salt-wedge under different conditions of tidal and flow discharge. The salinity in the vertical profile is also measured in the dry season of 2017 and 2018 for model calibrating. The data has proved that there is the presence of salt-wedge in the study area. The obtained results will help strategic planners to use and preserve water resources more effectively and serve as a basis for new research directions on saline intrusion and human health.

Keywords: salt-wedge, salinity intrusion, human health, 3D model

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Authors: Ahmed Boufedah Badissi, Ahmed Beroual, Farid Boursas

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This research aims to elucidate the role of coarse aggregate in influencing the fresh properties of normal-strength concrete. Specifically, it is aimed to identify the optimal gradation of coarse aggregate to enhance workability. While existing literature discusses the impact of aggregate granularity on concrete workability, more numerical data or models need to quantify the relationship between workability, granularity, and coarse aggregate shape. The main objective is to create a model that describes how coarse aggregate morphology contributes to fresh concrete properties. To investigate the effect of coarse aggregate gradation on Normal Strength Concrete (NSC) workability, various combinations of coarse aggregates (4/22.4 mm) were produced in the laboratory, utilizing three elementary classes: finer coarse aggregate 4/8 mm (Fca), medium coarse aggregate 8/16 mm (Mca), and coarser coarse aggregate 16/22.4 mm (Cca). We introduced a factor, FCR (Finer to Coarser coarse aggregate Ratio), as a numerical parameter to provide a quantitative evaluation and more detailed results analysis. Quantitative characterization parameters for coarse aggregate morphology were established, exploring the influence of particle size distribution, specific surface, and aggregate shape on workability. The research findings are significant for establishing correlations between coarse aggregate morphology and concrete properties. FCR emerges as a valuable tool for predicting the impact of aggregate gradation variations on concrete. The results of this study create a valuable database for construction professionals and concrete producers, affirming that the fresh properties of NSC are intricately linked to coarse aggregate morphology, particularly gradation.

Keywords: morphology, coarse aggregate, workability, fresh properties, gradation

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Authors: Daniel José de Oliveira Ferreira, Juan Harold Sosa-Arnao, Bruno Cássio Moreira, Leonardo Paes Rangel, Song Won Park

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The comprehensive CFD models have been used to represent and study the heterogeneous combustion of biomass. In the present work, the operation of a global flue gas circuit in the sugar-cane bagasse combustion, from wind boxes below primary air grate supply, passing by bagasse insertion in swirl burners and boiler furnace, to boiler bank outlet is simulated. It uses five different meshes representing each part of this system located in sequence: wind boxes and grate, boiler furnace, swirl burners, super heaters and boiler bank. The model considers turbulence using standard k-ε, combustion using EDM, radiation heat transfer using DTM with 16 ray directions and bagasse particle tracking represented by Schiller-Naumann model. The results showed good agreement with expected behavior found in literature and equipment design. The more detailed results view in separated parts of flue gas system allows to observe some flow behaviors that cannot be represented by usual simplifications like bagasse supply under homogeneous axial and rotational vectors and others that can be represented using new considerations like the representation of 26 thousand grate orifices by 144 rectangular inlets.

Keywords: comprehensive CFD model, sugar-cane bagasse combustion, sugar-cane bagasse grate boiler, axial

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Authors: Cheng-Yu Tsai, Wen-Te Liu, Chen-Chen Lo, Yin-Tzu Lin, Kang Lo

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Background: Driving fatigue related to inadequate or disordered sleep accounts for a major percentage of traffic accidents. Obstructive sleep apnea syndrome (OSAS) is a common respiratory disorder during sleep. However, the effects of OSAS severity on driving drowsiness remain unclear. Objective: The aim of this study is to investigate the relationship between OSAS severity and driving fatigue. Methodologies: The physical condition while driving was obtained from the questionnaires to classify the state of driving fatigue. OSAS severity was quantified as the polysomnography, and the mean hourly number of greater than 3% dips in oxygen saturation during examination in a hospital in New Taipei City (Taiwan). The severity of OSAS was diagnosed by the apnea and hypopnea index (AHI) with the American Academy of Sleep Medicine (AASM) guideline. The logistic regression model was used to examine the associations after adjusted age, gender, neck circumstance, waist circumstance, and body mass index (BMI). Results: There were 880 subjects recruited in this study, who had been done polysomnography for evaluating severity for OSAS as well as completed the driver condition questionnaire. 752 subjects were diagnosed with OSA, and 484 subjects had fatigue driving behavior in the past week. Patients diagnosed with OSAS had a 9.42-fold higher odds ratio (p < 0.01, 95% CI = 5.41 – 16.42) of driving drowsiness for cohorts with a normal degree. Conclusion: We observe the considerable correlation between OSAS and driving fatigue. For the purpose of promoting traffic safety, OSAS should be monitored and treated.

Keywords: obstructive sleep apnea syndrome, driving fatigue, polysomnography, apnea and hypopnea index

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Authors: Elizabeth McLean, Katrina Skewes-McFerran, Grace Thompson

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Scholarship highlights the need to further examine and better understand and foster the process of becoming a parent to a premature baby in the neonatal context to support the critical development of the parent-infant relationship. Music therapy research documents significant benefits of music therapy on neonatal physiological and neurodevelopmental function, reduced maternal anxiety and validating parents’ relationship with their premature baby, yet limited studies examine the role of music in supporting parental identity. This was a multi-site study, exploring parents’ musical engagement with their hospitalised baby and parental identity in a NU. In-depth interviews with nine parents of a premature baby across varying time points in their NU journey took place. Data collection and analysis was influenced by Constructive Grounded Theory methodology. Findings in the form of a substantive grounded theory illuminated the contribution of parents’ musical engagement on their sense of parental identity in the NU. Specifically, the significance of their baby’s level and type of response during musical interactions in influencing parents’ capacity to engage in musical dialogue with their baby emerged. Specific conditions that acted as both barriers and fosters in parents’ musical engagement across a high- risk pregnancy and NU admission also emerged. Recommendations for future research into the role of music and music therapy in supporting parental coping and transition to parenthood during a high-risk pregnancy and birth and beyond the NU will be discussed.

Keywords: grounded theory, musical engagement, music therapy, parental identity

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Authors: Tariq Aljuneidi, Akif Asil Bulgak

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Remanufacturing may be defined as the process of bringing used products to “like-new” functional state with warranty to match, and it is one of the most popular product end-of-life scenarios. An efficient remanufacturing network lead to an efficient design of sustainable manufacturing enterprise. In remanufacturing network, products are collected from the customer zone, disassembled and remanufactured at a suitable remanufacturing facility. In this respect, another issue to consider is how the returned product to be remanufactured, in other words, what is the best layout for such facility. In order to achieve a sustainable manufacturing system, Cellular Manufacturing System (CMS) designs are highly recommended, CMSs combine high throughput rates of line layouts with the flexibility offered by functional layouts (job shop). Introducing the CMS while designing a remanufacturing network will benefit the utilization of such a network. This paper presents and analyzes a comprehensive mathematical model for the design of Dynamic Cellular Remanufacturing Systems (DCRSs). In this paper, the proposed model is the first one to date that consider CMS and remanufacturing system simultaneously. The proposed DCRS model considers several manufacturing attributes such as multi-period production planning, dynamic system reconfiguration, duplicate machines, machine capacity, available time for workers, worker assignments, and machine procurement, where the demand is totally satisfied from a returned product. A numerical example is presented to illustrate the proposed model.

Keywords: cellular manufacturing system, remanufacturing, mathematical programming, sustainability

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Authors: Clarinda Vitorino Nhangumbe, Ercília Sousa

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Weather derivatives are financial products used to cover non catastrophic weather events with a weather index as the underlying asset. The rainfall weather derivative pricing model is modeled based in the assumption that the rainfall dynamics follows Ornstein-Uhlenbeck process, and the partial differential equation approach is used to derive the convection-diffusion two dimensional time dependent partial differential equation, where the spatial variables are the rainfall index and rainfall depth. To compute the approximation solutions of the partial differential equation, the appropriate boundary conditions are suggested, and an explicit numerical method is proposed in order to deal efficiently with the different choices of the coefficients involved in the equation. Being an explicit numerical method, it will be conditionally stable, then the stability region of the numerical method and the order of convergence are discussed. The model is tested for real precipitation data.

Keywords: finite differences method, ornstein-uhlenbeck process, partial differential equations approach, rainfall derivatives

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Authors: Tzu-Hsuan Lei, Shu-Chien Wu, Kuang-Che Lo, Shu-Chi Liu, Yu-Cheng Liu

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The focus of this study was on the effects of air propagation associated with vented holes on acoustic resistance properties. A cylindrical hole with diameter and depth of 0.7 mm and 1.0 mm, respectively, was the research target. By constructing a finite element analytical model of its sound field properties, the acoustic-specific airflow resistance relationships were obtained for the differences in sound pressure and flow velocity at the two ends of this vented hole. In addition, the acoustic properties of this vented hole were included in the in-ear earphone simulation model to complete the sound pressure curve simulation analysis of the in-ear earphone system with a vented hole of corresponding size. Then, the simulation results were compared with actual measurements obtained from the standard system. Based on the results, when the in-ear earphone vented hole simulation model considered the simulated specific airflow resistance values of this cylindrical hole, the overall simulated sound pressure performance was highly consistent with that of measured values. The difference in the first peak values of sound pressure at mid-to-low frequencies was reduced from 5.64% when the simulation model did not consider the specific airflow resistance of the cylindrical hole to 1.18%, and the accuracy of the overall simulation was around 70%. This indicates the importance of the acoustic resistance properties of vented holes. Moreover, as specific airflow resistance values were able to be further quantified, the accuracy of the entire in-ear earphone simulation was ultimately and effectively elevated.

Keywords: specific airflow resistance, vented holes, in-ear earphone, finite element method

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Authors: M. Hilani, B. Nassih

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Phishing is one of the oldest and best known scams on the Internet. It can be defined as any type of telecommunications fraud that uses social engineering tricks to obtain confidential data from its victims. It’s a cybercrime aimed at stealing your sensitive information. Phishing is generally done via private email, so scammers impersonate large companies or other trusted entities to encourage victims to voluntarily provide information such as login credentials or, worse yet, credit card numbers. The COVID-19 theme is used by cybercriminals in multiple malicious campaigns like phishing. In this environment, messaging filtering solutions have become essential to protect devices that will now be used outside of the secure perimeter. Despite constantly updating methods to avoid these cyberattacks, the end result is currently insufficient. Many researchers are looking for optimal solutions to filter phishing emails, but we still need good results. In this work, we concentrated on solving the problem of detecting phishing emails using the different steps of NLP preprocessing, and we proposed and trained a model using one-dimensional CNN. Our study results show that our model obtained an accuracy of 99.99%, which demonstrates how well our model is working.

Keywords: phishing, e-mail, NLP preprocessing, CNN, e-mail filtering

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Authors: M. A. Alavianmehr, A. Tashk, A. Sodagaran

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Modeling background and moving objects are significant techniques for video surveillance and other video processing applications. This paper presents a foreground detection algorithm that is robust against illumination changes and noise based on adaptive mixture Gaussian model (GMM), and provides a novel and practical choice for intelligent video surveillance systems using static cameras. In the previous methods, the image of still objects (background image) is not significant. On the contrary, this method is based on forming a meticulous background image and exploiting it for separating moving objects from their background. The background image is specified either manually, by taking an image without vehicles, or is detected in real-time by forming a mathematical or exponential average of successive images. The proposed scheme can offer low image degradation. The simulation results demonstrate high degree of performance for the proposed method.

Keywords: image processing, background models, video surveillance, foreground detection, Gaussian mixture model

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Authors: Vernie C. Convicto, Henry P. Aringa, Wilson I. Barredo

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This study presents a conformational model of the helical structures of globular protein particularly ferritin in the framework of white noise path integral formulation by using Associated Legendre functions, Bessel and convolution of Bessel and trigonometric functions as modulating functions. The model incorporates chirality features of proteins and their helix-turn-helix sequence structural motif.

Keywords: globular protein, modulating function, white noise, winding probability

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Authors: Frank Hespeler, Giuseppe Loiacono

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We propose measures for systemic risk generated through intra-sectorial interdependencies in the hedge fund sector. These measures are based on variations in the average cross-effects of funds showing significant interdependency between their individual returns and the moments of the sector’s return distribution. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and are consistent with intuitive interpretation of the results.

Keywords: hedge funds, systemic risk, vector autoregressive model, risk monitoring

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Authors: Buddhi Arachchige, Hessam Ghasemnejad

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In this study, the post impact behavior of curved composite plates subjected to low velocity impact was studied analytically and numerically. Approaches to damage modelling are proposed through the degradation of stiffness in the damaged region by reduction of thickness in the damage region. Spring-mass models were used to model the impact response of the plate and impactor. The study involved designing two damage models to compare and contrast the model best fitted with the numerical results. The theoretical force-time responses were compared with the numerical results obtained through a detailed study carried out in LS-DYNA. The modified damage model established a good prediction with the analytical force-time response for different layups and geometry. This study provides a gateway in selecting the most effective layups for variable stiffness curved composite panels able to withstand a higher impact damage.

Keywords: analytical modelling, composite damage, impact, variable stiffness

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Authors: Anas Rao, Hao Duan, Fanhua Ma

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The dependency on the fossil fuels can be minimized by using the hydrogen enriched compressed natural gas (HCNG) in the transportation vehicles. However, the NOx emissions of HCNG engines are significantly higher, and this turned to be its major drawback. Therefore, the study of NOx emission of HCNG engines is a very important area of research. In this context, the experiments have been performed at the different hydrogen percentage, ignition timing, air-fuel ratio, manifold-absolute pressure, load and engine speed. Afterwards, the simulation has been accomplished by the quasi-dimensional combustion model of HCNG engine. In order to investigate the NOx emission, the NO mechanism has been coupled to the quasi-dimensional combustion model of HCNG engine. The three NOx mechanism: the thermal NOx, prompt NOx and N2O mechanism have been used to predict NOx emission. For the validation purpose, NO curve has been transformed into NO packets based on the temperature difference of 100 K for the lean-burn and 60 K for stoichiometric condition. While, the width of the packet has been taken as the ratio of crank duration of the packet to the total burnt duration. The combustion chamber of the engine has been divided into three zones, with the zone equal to the product of summation of NO packets and space. In order to check the accuracy of the model, the percentage error of NOx emission has been evaluated, and it lies in the range of ±6% and ±10% for the lean-burn and stoichiometric conditions respectively. Finally, the percentage contribution of each NO formation has been evaluated.

Keywords: quasi-dimensional combustion , thermal NO, prompt NO, NO packet

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Authors: Salha Mohamed Hussain

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As part of the review on the Malay Language curriculum and pedagogy in Singapore conducted in 2010, some recommendations were made to nurture active learners who are able to use the Malay Language efficiently in their daily lives. In response to the review, a new Malay Language teaching and learning package for primary school, called CEKAP (Cungkil – Elicit; Eksplorasi – Exploration; Komunikasi – Communication; Aplikasi – Application; Penilaian – Assessment), was developed from 2012 and implemented for Primary 1 in all primary schools from 2015. Resources developed in this package include the text book, activity book, teacher’s guide, big books, small readers, picture cards, flash cards, a game kit and Information and Communication Technology (ICT) resources. The development of the CEKAP package is continuous until 2020. This paper will look at a model incorporated in the development of the teaching materials in the new Malay Language Curriculum for Primary Schools and the rationale for each phase of development to ensure that the resources meet the needs of every pupil in the teaching and learning of Malay Language in the primary schools. This paper will also focus on the preliminary findings of the effectiveness of the model based on the feedback given by members of the working and steering committees. These members are academicians and educators who were appointed by the Ministry of Education to provide professional input on the soundness of pedagogical approach proposed in the revised syllabus and to make recommendations on the content of the new instructional materials. Quantitative data is derived from the interviews held with these members to gather their input on the model. Preliminary findings showed that the members provided positive feedback on the model and that the comprehensive process has helped to develop good and effective instructional materials for the schools. Some recommendations were also gathered from the interview sessions. This research hopes to provide useful information to those involved in the planning of materials development for teaching and learning.

Keywords: Malay language, materials development, model, primary school

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Authors: Jui-Chien Hsieh

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Background:12-lead electrocardiography(ECG) is one of frequently-used tools to detect atrial fibrillation (AF), which might degenerate into life-threaten stroke, in clinical Practice. Based on this study, the AF detection by the clinically-used 12-lead ECG device has only 0.73~0.77 positive predictive value (ppv). Objective: It is on great demand to develop a new algorithm to improve the precision of AF detection using 12-lead ECG. Due to the progress on artificial intelligence (AI), we develop an ECG deep model that has the ability to recognize AF patterns and reduce false-positive errors. Methods: In this study, (1) 570-sample 12-lead ECG reports whose computer interpretation by the ECG device was AF were collected as the training dataset. The ECG reports were interpreted by 2 senior cardiologists, and confirmed that the precision of AF detection by the ECG device is 0.73.; (2) 88 12-lead ECG reports whose computer interpretation generated by the ECG device was AF were used as test dataset. Cardiologist confirmed that 68 cases of 88 reports were AF, and others were not AF. The precision of AF detection by ECG device is about 0.77; (3) A parallel 4-layer 1 dimensional convolutional neural network (CNN) was developed to identify AF based on limb-lead ECGs and chest-lead ECGs. Results: The results indicated that this model has better performance on AF detection than traditional computer interpretation of the ECG device in 88 test samples with 0.94 ppv, 0.98 sensitivity, 0.80 specificity. Conclusions: As compared to the clinical ECG device, this AI ECG model promotes the precision of AF detection from 0.77 to 0.94, and can generate impacts on clinical applications.

Keywords: 12-lead ECG, atrial fibrillation, deep learning, convolutional neural network

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Authors: Nora Alomar, Bianca Alexandra Stefa, Saleh Bazi

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This research uncovers the determinants that drive millennial consumers to adhere to product return of fast-fashion products purchases via e-commerce and what effects it has on consumer experience and satisfaction. Online consumption has skyrocketed, with e-commerce being the only, most reliable, and safe method of shopping during and post Covid-19. It has been noted customers are demanding a wide variety of product characteristics and a generous optimal return policy. The authors have selected to examine millennial consumers as they are digital natives and have an affinity for researching, reading product reviews, and shopping online, with a great spending power due to a higher disposable income in comparison to other generations. A multi-study approach is adopted, where study one (interviews, sample of 20 respondents) investigates the factors that drive product return, and study two (PLS-SEM, sample of 250 respondents) looks into the relationships of product return management against behavioral outcomes by having the generated factors (from study one) as moderators. Five themes are generated from study one (return policies, product characteristics, delivery lead time, seasonality, product trial & overspending). The authors identify that two out of the five factors (seasonality, product trial & overspending) have not been highlighted by the literature. The paper examines 11 hypotheses, where 10 are supported. Findings highlight the quality of the product return management influences the overall millennial customer experience and satisfaction. Findings also indicate that product return management was identified to have a significant negative effect on customer experience. Additionally, seasonality has a significant but negative moderation, which means increasing seasonality decreases the relationship between product return management and customer experience and satisfaction. Results highlight that return policies have a significant negative influence on the relationship between returning a product and customer experience and satisfaction. Moreover, product characteristics are also identified to have a significant negative influence on the relationship between returning a product and customer experience and satisfaction. This study further examines the influence of the factors on direct e-commerce websites and third-party e-commerce websites. Findings showcase a strong statistical significance for the increased rate of return of fast-fashion products on third-party websites. This paper aids practitioners in taking strategic decisions related to return management, to improve the quality of logistical services and, in turn, increase profitability.

Keywords: customer experience, customer satisfaction, e-commerce, fast-fashion, product returns

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Authors: L. Sierra, N. Gambetta, M. A. Garcia-Benau, M. Orta

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Financial scandals and financial crisis have led to an international debate on the value of auditing. In recent years there have been significant legislative reforms aiming to increase markets’ confidence in audit services. In particular, there has been a significant debate on the need to improve the communication of auditors with audit reports users as a way to improve its informative value and thus, to improve audit quality. The International Auditing and Assurance Standards Board (IAASB) has proposed changes to the audit report standards. The International Standard on Auditing 701, Communicating Key Audit Matters (KAM) in the Independent Auditor's Report, has introduced new concepts that go beyond the auditor's opinion and requires to disclose the risks that, from the auditor's point of view, are more significant in the audited company information. Focusing on the companies included in the Financial Times Stock Exchange 100 index, this study aims to focus on the analysis of the determinants of the number of KAM disclosed by the auditor in the audit report and moreover, the analysis of the determinants of the different type of KAM reported during the period 2013-2015. To test the hypotheses in the empirical research, two different models have been used. The first one is a linear regression model to identify the client’s characteristics, industry sector and auditor’s characteristics that are related to the number of KAM disclosed in the audit report. Secondly, a logistic regression model is used to identify the determinants of the number of each KAM type disclosed in the audit report; in line with the risk-based approach to auditing financial statements, we categorized the KAM in 2 groups: Entity-level KAM and Accounting-level KAM. Regarding the auditor’s characteristics impact on the KAM disclosure, the results show that PwC tends to report a larger number of KAM while KPMG tends to report less KAM in the audit report. Further, PwC reports a larger number of entity-level risk KAM while KPMG reports less account-level risk KAM. The results also show that companies paying higher fees tend to have more entity-level risk KAM and less account-level risk KAM. The materiality level is positively related to the number of account-level risk KAM. Additionally, these study results show that the relationship between client’s characteristics and number of KAM is more evident in account-level risk KAM than in entity-level risk KAM. A highly leveraged company carries a great deal of risk, but due to this, they are usually subject to strong capital providers monitoring resulting in less account-level risk KAM. The results reveal that the number of account-level risk KAM is strongly related to the industry sector in which the company operates assets. This study helps to understand the UK audit market, provides information to auditors and finally, it opens new research avenues in the academia.

Keywords: FTSE 100, IAS 701, key audit matters, auditor’s characteristics, client’s characteristics

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Authors: A. Kumar, V. Devadas

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Energy is the basic element for any country’s economic development. India is one of the most populated countries, and is dependent on fossil fuel and nuclear-based energy generation. The energy sector faces huge challenges and is dependent on the import of energy from neighboring countries to fulfill the gap in demand and supply. India has huge setbacks for efficient energy generation, distribution, and consumption, therefore they consume more quantity of energy to produce the same amount of Gross Domestic Product (GDP) compared to the developed countries. Technology and technique use, availability, and affordability in the various sectors are varying according to their economic status. In this paper, an attempt is made to quantify the domestic electrical energy consumption in Jodhpur, India. Survey research methods have been employed and stratified sampling technique-based households were chosen for conducting the investigation. Pre-tested survey schedules are used to investigate the grassroots level study. The collected data are analyzed by employing statistical techniques. Thereafter, a multiple regression model is developed to understand the functions of total electricity consumption in the domestic sector corresponding to other independent variables including electrical appliances, age of the building, household size, education, etc. The study resulted in identifying the governing variable in energy consumption at the household level and their relationship with the efficiency of household-based electrical and energy appliances. The analysis is concluded with the recommendation for optimizing the gap in peak electrical demand and supply in the domestic sector.

Keywords: appliance, consumption, electricity, households

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Authors: Sammy Xiaoyan Ying

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Professional skepticism remains one of the most important and controversial topics in auditing. This study examines the influence of client cooperativeness and fraud risk on judgments of professional skepticism among Chinese entry-level auditors in the context of evaluation of client-provided audit evidence. Given that the essence of auditors’ PS rests on distrust of clients, this study invokes trust-related theories from psychological and cultural perspectives. Specifically, invoking psychology theories of trust concerning positive relationship between risk and distrust, this study hypothesizes that professional skepticism is likely to be positively associated with client fraud risk. The results support the hypothesis and show that lower (higher) levels of client fraud risk lead to lower (higher) levels of professional skepticism. Furthermore, drawing on analysis of relationship between cooperation and trust, with particular reference to guanxi dynamics in the Chinese culture, this study hypothesizes that professional skepticism is likely to be negatively associated with client cooperativeness. The results support the hypothesis and show that higher (lower) levels of client cooperativeness lead to lower (higher) levels of professional skepticism. The findings may assist audit firms and auditing educators in improving training and education programs and enhancing entry-level auditors’ abilities to maintain professional skepticism. Also, practitioners and regulators may benefit from increasing awareness of psychological factors in influencing professional skepticism.

Keywords: audit judgment, Chinese culture, entry-level auditor, professional skepticism

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Authors: Abdolsalam Ghaderi

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In this paper, the single-depot capacitated location-routing problem under uncertainty is presented. The problem aims to find the optimal location of a single depot and the routing of vehicles to serve the customers when the parameters may change under different circumstances. This problem has many applications, especially in the area of supply chain management and distribution systems. To get closer to real-world situations, travel time of vehicles, the fixed cost of vehicles usage and customers’ demand are considered as a source of uncertainty. A combined approach including robust optimization and stochastic programming was presented to deal with the uncertainty in the problem at hand. For this purpose, a mixed integer programming model is developed and a heuristic algorithm based on Variable Neighborhood Search(VNS) is presented to solve the model. Finally, the computational results are presented and future research directions are discussed.

Keywords: location-routing problem, robust optimization, stochastic programming, variable neighborhood search

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Authors: Wen Luo, Phil J. Vardon, Anne-Catherine Dieudonne

Abstract:

One key process that partly controls the success of geothermal projects is fluid reinjection, which benefits in dealing with waste water, maintaining reservoir pressure, and supplying heat-exchange media, etc. Thus, sustaining the injectivity is of great importance for the efficiency and sustainability of geothermal production. However, the injectivity is sensitive to the reinjection process. Field experiences have illustrated that the injectivity can be damaged or improved. In this paper, the focus is on how the injectivity is improved. Since the injection pressure is far below the formation fracture pressure, hydraulic fracturing cannot be the mechanism contributing to the increase in injectivity. Instead, thermal stimulation has been identified as the main contributor to improving the injectivity. For low-enthalpy geothermal reservoirs, which are not fracture-controlled, thermal fracturing, instead of thermal shearing, is expected to be the mechanism for increasing injectivity. In this paper, field data from the sedimentary low-enthalpy geothermal reservoirs in the Netherlands were analysed to show the occurrence of thermal fracturing due to the cooling shock during reinjection. Injection data were collected and compared to show the effects of the thermal fractures on injectivity. Then, a thermo-hydro-mechanical (THM) model for the near field formation was developed and solved by finite element method to simulate the observed thermal fractures. It was then compared with the HM model, decomposed from the THM model, to illustrate the thermal effects on thermal fracturing. Finally, the effects of operational parameters, i.e. injection temperature and pressure, on the changes in injectivity were studied on the basis of the THM model. The field data analysis and simulation results illustrate that the thermal fracturing occurred during reinjection and contributed to the increase in injectivity. The injection temperature was identified as a key parameter that contributes to thermal fracturing.

Keywords: injectivity, reinjection, thermal fracturing, thermo-hydro-mechanical model

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Authors: Usama Bin Zubair, Muhammad Azeem

Abstract:

Introduction: Depression has been one of the most commonly diagnosed mental health disorders in Pakistan. A Census conducted by the government of Pakistan in 2017 showed that more than 10000 trans-genders live in Pakistan. HIV, illicit substance use and mental health issues, including depression, have been the main health problems faced by them. Trans-gender population has been suffering from depressive illness more than normal population all over the world. Aim: To assess the prevalence of depression among the transgender population and analyze the relationship of socio-demographic factors with depression. Subjects and Methods: The sample population comprised of one hundred and forty-two transgender people of Rawalpindi and Islamabad. Beck depressive inventory II (BDI-II) was used to record the presence and severity of the depressive symptoms. Depressive symptoms were categorized as mild, moderate and severe. Relationship of the age, smoking, family income, illicit substance use and education were studied with the presence of depressive symptoms among these transgender people of twin cities of Pakistan. Results: A total of 142 transgender people were included in the final analysis. The mean age of the study participants was 39.55 ± 6.18. Out of these, 45.1% had no depressive symptoms while 31.7% had mild, 12.7% had moderate and 10.6% had severe depressive symptomatology. After applying the binary logistic regression, we found that the presence of depressive symptoms had a significant association with illicit substance use among the target population. Conclusion: This study showed a high prevalence of depressive symptoms among the transgender population in the twin cities of Pakistan. Use of illicit substances like tobacco, cannabis, opiates, and alcohol should be discouraged to prevent mental health problems.

Keywords: depression, transgender, prevalence, sociodemographic factors

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Authors: Tae Bo Jeon

Abstract:

Korean air force is undertaking a big project to replace prevailing hundreds of old air fighters such as F-4, F-5, KF-16 etc. The task is to develop and produce domestic fighters equipped with 2 complete-type engines each. A large number of engines, however, will be purchased as products from a foreign engine maker. In addition to the fighters themselves, secure the proper number of spare engines serves a significant role in maintaining combat readiness and effectively managing the national defense budget due to high cost. In this paper, we presented a model dynamically updating spare engine requirements. Currently, the military administration purchases all the fighters, engines, and spare engines at acquisition stage and does not have additional procurement processes during the life cycle, 30-40 years. With the assumption that procurement procedure during the operational stage is established, our model starts from the initial estimate of spare engine requirements based on limited information. The model then performs military missions and repair/maintenance works when necessary. During operation, detailed field information - aircraft repair and test, engine repair, planned maintenance, administration time, transportation pipeline between base, field, and depot etc., - should be considered for actual engine requirements. At the end of each year, the performance measure is recorded and proceeds to next year when it shows higher the threshold set. Otherwise, additional engine(s) will be bought and added to the current system. We repeat the process for the life cycle period and compare the results. The proposed model is seen to generate far better results appropriately adding spare engines thus avoiding possible undesirable situations. Our model may well be applied to future air force military operations.

Keywords: DMSMS, operational availability, METRIC, PRS

Procedia PDF Downloads 165

Authors: Rafael Oliveira Santos, Luciano Pessanha Moreira, Marcelo Costa Cardoso

Abstract:

Spacer grid assembly supporting the nuclear fuel rods is an important concern in the design of structural components of a Pressurized Water Reactor (PWR). The spacer grid is composed by springs and dimples which are formed from a strip sheet by means of blanking and stamping processes. In this paper, the blanking process and tooling parameters are evaluated by means of a 2D plane-strain finite element model in order to evaluate the punch load and quality of the sheared edges of Inconel 718 strips used for nuclear spacer grids. A 3D finite element model is also proposed to predict the tooling loads resulting from the stamping process of a preformed Inconel 718 strip and to analyse the residual stress effects upon the spring and dimple design geometries of a nuclear spacer grid.

Keywords: blanking process, damage model, finite element modelling, inconel 718, spacer grids, stamping process

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Authors: Tu Shuyang, Zhang Xu, Zhou Xiang

Abstract:

The objective of this paper is to investigate the effect of short-term heat exchange decay of ground heat exchanger (GHE) on the ground source heat pump (GSHP) energy efficiency and capacity. A resistance-capacitance (RC) model was developed and adopted to simulate the transient characteristics of the ground thermal condition and heat exchange. The capacity change of the GSHP was linked to the inlet and outlet water temperature by polynomial fitting according to measured parameters given by heat pump manufacturers. Thus, the model, which combined the heat exchange decay with the capacity change, reflected the energy efficiency decay of the whole system. A case of GSHP system was analyzed by the model, and the result showed that there was risk that the GSHP might not meet the load demand because of the efficiency decay in a short-term operation. The conclusion would provide some guidances for GSHP system design to overcome the risk.

Keywords: capacity, energy efficiency, GSHP, heat exchange

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Authors: Yakui Bai, Chen Sun, Ke Wang

Abstract:

An experimental investigation of environmental effect on fatigue behavior in SA508 Gr.3 Cl.2 Steam Generator Forging CAP1400 nuclear power plant has been carried out. In order to simulate actual loading condition, a range of strain amplitude was applied in different low cycle fatigue (LCF) tests. The current American Society of Mechanical Engineers (ASME) design fatigue code does not take full account of the interactions of environmental, loading, and material's factors. A range of strain amplitude was applied in different low cycle fatigue (LCF) tests at a strain rate of 0.01%s⁻¹. A design fatigue model was constructed by taking environmentally assisted fatigue effects into account, and the corresponding design curves were given for the convenience of engineering applications. The corrosion fatigue experiment was performed in a strain control mode in 320℃ borated and lithiated water environment to evaluate the effects of a mixed environment on fatigue life. Stress corrosion cracking (SCC) in steam generator large forging in primary water of pressurized water reactor was also observed. In addition, it is found that the CF life of SA508 Gr.3 Cl.2 decreases with increasing temperature in the water environment. The relationship between the reciprocal of temperature and the logarithm of fatigue life was found to be linear. Through experiments and subsequent analysis, the mechanisms of reduced low cycle fatigue life have been investigated for steam generator forging.

Keywords: failure behavior, low alloy steel, steam generator forging, stress corrosion cracking

Procedia PDF Downloads 120