Search results for: mutual vulnerability

Authors: Michelo Obrey

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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

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Authors: Suresh Kumar Bandooni, Mirana Laishram

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The Mid Himalaya of Garhwal Himalaya in Uttarakhand (India) has a complex Physiographic features withdiversified climatic conditions and therefore it is suspect to environmental vulnerability. Thenatural disasters and also anthropogenic activities accelerate the rate of environmental vulnerability. To analyse the environmental vulnerability, we have used geoinformatics technologies and numerical models and it is adoptedby using Spatial Principal Component Analysis (SPCA). The model consist of many factors such as slope, landuse/landcover, soil, forest fire risk, landslide susceptibility zone, human population density and vegetation index. From this model, the environmental vulnerability integrated index (EVSI) is calculated for Pasol Gad Watershed of Garhwal Himalaya for the years 1987, 2000, and 2013 and the Vulnerability is classified into five levelsi.e. Very low, low, medium, high and very highby means of cluster principle. The resultsforeco-environmental vulnerability distribution in study area shows that medium, high and very high levels are dominating in the area and it is mainly caused by the anthropogenic activities and natural disasters. Therefore, proper management forconservation of resources is utmost necessity of present century. It is strongly believed that participation at community level along with social worker, institutions and Non-governmental organization (NGOs) have become a must to conserve and protect the environment.

Keywords: eco-environment vulnerability, spatial principal component analysis, remote sensing, geographic information system, institutions, Himalaya

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Authors: Allaeddine Athmani, Abdelhacine Gouasmia, Tiago Ferreira, Romeu Vicente

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The seismic risk mitigation from the perspective of the old buildings stock is truly essential in Algerian urban areas, particularly those located in seismic prone regions, such as Annaba city, and which the old buildings present high levels of degradation associated with no seismic strengthening and/or rehabilitation concerns. In this sense, the present paper approaches the issue of the seismic vulnerability assessment of old masonry building stocks through the adaptation of a simplified methodology developed for a European context area similar to that of Annaba city, Algeria. Therefore, this method is used for the first level of seismic vulnerability assessment of the masonry buildings stock of the old city center of Annaba. This methodology is based on a vulnerability index that is suitable for the evaluation of damage and for the creation of large-scale loss scenarios. Over 380 buildings were evaluated in accordance with the referred methodology and the results obtained were then integrated into a Geographical Information System (GIS) tool. Such results can be used by the Annaba city council for supporting management decisions, based on a global view of the site under analysis, which led to more accurate and faster decisions for the risk mitigation strategies and rehabilitation plans.

Keywords: Damage scenarios, masonry buildings, old city center, seismic vulnerability, vulnerability index

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Authors: Nadir A. Carreon, Christa Sonderer, Aakarsh Rao, Roman Lysecky

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With the advent of complex software and increased connectivity, the security of life-critical medical devices is becoming an increasing concern, particularly with their direct impact on human safety. Security is essential, but it is impossible to develop completely secure and impenetrable systems at design time. Therefore, it is important to assess the potential impact on the security and safety of exploiting a vulnerability in such critical medical systems. The common vulnerability scoring system (CVSS) calculates the severity of exploitable vulnerabilities. However, for medical devices it does not consider the unique challenges of impacts to human health and privacy. Thus, the scoring of a medical device on which human life depends (e.g., pacemakers, insulin pumps) can score very low, while a system on which human life does not depend (e.g., hospital archiving systems) might score very high. In this paper, we propose a medical vulnerability scoring system (MVSS) that extends CVSS to address the health and privacy concerns of medical devices. We propose incorporating two new parameters, namely health impact, and sensitivity impact. Sensitivity refers to the type of information that can be stolen from the device, and health represents the impact on the safety of the patient if the vulnerability is exploited (e.g., potential harm, life-threatening). We evaluate fifteen different known vulnerabilities in medical devices and compare MVSS against two state-of-the-art medical device-oriented vulnerability scoring systems and the foundational CVSS.

Keywords: common vulnerability system, medical devices, medical device security, vulnerabilities

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Authors: Enze Zhang

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Large numbers of inter-basin water transfer (IBWT) projects are constructed or proposed all around the world as solutions to water distribution and supply problems. Nowadays, as climate change warms the atmosphere, alters the hydrologic cycle, and perturbs water availability, large scale IBWTs which are sensitive to these water-related changes may carry significant risk. Given this reality, IBWTs have elicited great controversy and assessments of vulnerability to climate change are urgently needed worldwide. In this paper, we consider the South-to-North Water Transfer Project (SNWTP) in China as a case study, and introduce a bottom-up vulnerability assessment framework. Key hazards and risks related to climate change that threaten future water availability for the SNWTP are firstly identified. Then a performance indicator is presented to quantify the vulnerability of IBWT by taking three main elements (i.e., sensitivity, adaptive capacity, and exposure degree) into account. A probabilistic Budyko model is adapted to estimate water availability responses to a wide range of possibilities for future climate conditions in each region of the study area. After bottom-up quantifying the vulnerability based on the estimated water availability, our findings confirm that SNWTP would greatly alleviate geographical imbalances in water availability under some moderate climate change scenarios but raises questions about whether it is a long-term solution because the donor basin has a high level of vulnerability due to extreme climate change.

Keywords: vulnerability, climate change, inter-basin water transfer, bottom-up

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Authors: Umesh Kumar Singh, Chanchala Joshi

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With increasing dependency on IT infrastructure, the main objective of a system administrator is to maintain a stable and secure network, with ensuring that the network is robust enough against malicious network users like attackers and intruders. Security risk management provides a way to manage the growing threats to infrastructures or system. This paper proposes a framework for risk level estimation which uses vulnerability database National Institute of Standards and Technology (NIST) National Vulnerability Database (NVD) and the Common Vulnerability Scoring System (CVSS). The proposed framework measures the frequency of vulnerability exploitation; converges this measured frequency with standard CVSS score and estimates the security risk level which helps in automated and reasonable security management. In this paper equation for the Temporal score calculation with respect to availability of remediation plan is derived and further, frequency of exploitation is calculated with determined temporal score. The frequency of exploitation along with CVSS score is used to calculate the security risk level of the system. The proposed framework uses the CVSS vectors for risk level estimation and measures the security level of specific network environment, which assists system administrator for assessment of security risks and making decision related to mitigation of security risks.

Keywords: CVSS score, risk level, security measurement, vulnerability category

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Authors: Fathul Mubin, Budi E. Nurcahya

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In 2006, a large earthquake ever occurred in the province of Yogyakarta, which caused considerable damage. This is the basis need to investigate the seismic vulnerability index in around of the earthquake zone. This research is called microzonation of earthquake hazard. This research has been conducted at the site and surrounding of Prambanan Temple, includes homes and civil buildings. The reason this research needs to be done because in the event of an earthquake in 2006, there was damage to the temples at Prambanan temple complex and its surroundings. In this research, data collection carried out for 60 minutes using three component seismograph measurements at 165 points with spacing of 1000 meters. The data recorded in time function were analyzed using the spectral ratio method, known as the Horizontal to Vertical Spectral Ratio (HVSR). Results from this analysis are dominant frequency (Fg) and maximum amplification factor (Ag) are used to obtain seismic vulnerability index. The results of research showed the dominant frequency range from 0.5 to 30 Hz and the amplification is in interval from 0.5 to 9. Interval value for seismic vulnerability index is 0.1 to 50. Based on distribution maps of seismic vulnerability index and impact of buildings damage seemed for suitability. For further research, it needs to survey to the east (klaten) and south (Bantul, DIY) to determine a full distribution maps of seismic vulnerability index.

Keywords: amplification factor, dominant frequency, microzonation analysis, seismic vulnerability index

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Authors: Somayyeh Karimiyan

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To evaluate the seismic vulnerability of vital offshore structures with the highest possible precision, Nonlinear Time History Analyses (NLTHA), is the most reliable method. However, since it is very time-consuming, a quick procedure is greatly desired. This paper presents a quick method by combining the Push Over Analysis (POA) and the NLTHA. The POA is preformed first to recognize the more critical members, and then the NLTHA is performed to evaluate more precisely the critical members’ vulnerability. The proposed method has been applied to jacket type structure. Results show that combining POA and NLTHA is a reliable seismic evaluation method, and also that none of the earthquake characteristics alone, can be a dominant factor in vulnerability evaluation.

Keywords: jacket structure, seismic evaluation, push-over and nonlinear time history analyses, critical members

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Authors: Evangelos Tsakalos, Maria Kazantzaki, Eleni Filippaki, Yannis Bassiakos

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The coastal areas of the Mediterranean have been extensively affected by the transgressive event that followed the Last Glacial Maximum, with many studies conducted regarding the stratigraphic configuration of coastal sediments around the Mediterranean. The coastal zone of the Messologi area, western Greece, consists of low relief beaches containing low cliffs and eroded dunes, a fact which, in combination with the rising sea level and tectonic subsidence of the area, has led to substantial coastal. Coastal vulnerability assessment is a useful means of identifying areas of coastline that are vulnerable to impacts of climate change and coastal processes, highlighting potential problem areas. Commonly, coastal vulnerability assessment takes the form of an ‘index’ that quantifies the relative vulnerability along a coastline. Here we make use of the coastal vulnerability index (CVI) methodology by Thieler and Hammar-Klose, by considering geological features, coastal slope, relative sea-level change, shoreline erosion/accretion rates, and mean significant wave height as well as mean tide range to assess the present-day vulnerability of the coastal zone of Messologi area. In light of this, an impact assessment is performed under three different sea level rise scenarios, and adaptation measures to control climate change events are proposed. This study contributes toward coastal zone management practices in low-lying areas that have little data information, assisting decision-makers in adopting best adaptations options to overcome sea level rise impact on vulnerable areas similar to the coastal zone of Messologi.

Keywords: coastal vulnerability index, coastal erosion, sea level rise, GIS

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Authors: Sonali Agarwal

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

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

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Authors: Dipti Patra, Guguloth Uma, Smita Pradhan

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Registration is a fundamental task in image processing. It is used to transform different sets of data into one coordinate system, where data are acquired from different times, different viewing angles, and/or different sensors. The registration geometrically aligns two images (the reference and target images). Registration techniques are used in satellite images and it is important in order to be able to compare or integrate the data obtained from these different measurements. In this work, mutual information is considered as a similarity metric for registration of satellite images. The transformation is assumed to be a rigid transformation. An attempt has been made here to optimize the transformation function. The proposed image registration technique hybrid PSO-GA incorporates the notion of Particle Swarm Optimization and Genetic Algorithm and is used for finding the best optimum values of transformation parameters. The performance comparision obtained with the experiments on satellite images found that the proposed hybrid PSO-GA algorithm outperforms the other algorithms in terms of mutual information and registration accuracy.

Keywords: image registration, genetic algorithm, particle swarm optimization, hybrid PSO-GA algorithm and mutual information

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Authors: Joseph Gear, Yue Xu, Ernest Foo, Praveen Gauravaran, Zahra Jadidi, Leonie Simpson

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Deep learning methods have been seeing an increasing application to the long-standing security research goal of automatic vulnerability detection for source code. Attention, however, must still be paid to the task of producing vector representations for source code (code embeddings) as input for these deep learning models. Graphical representations of code, most predominantly Abstract Syntax Trees and Code Property Graphs, have received some use in this task of late; however, for very large graphs representing very large code snip- pets, learning becomes prohibitively computationally expensive. This expense may be reduced by intelligently pruning this input to only vulnerability-relevant information; however, little research in this area has been performed. Additionally, most existing work comprehends code based solely on the structure of the graph at the expense of the information contained by the node in the graph. This paper proposes Semantic-enhanced Code Embedding for Vulnerability Discovery (SCEVD), a deep learning model which uses semantic-based feature selection for its vulnerability classification model. It uses information from the nodes as well as the structure of the code graph in order to select features which are most indicative of the presence or absence of vulnerabilities. This model is implemented and experimentally tested using the SARD Juliet vulnerability test suite to determine its efficacy. It is able to improve on existing code graph feature selection methods, as demonstrated by its improved ability to discover vulnerabilities.

Keywords: code representation, deep learning, source code semantics, vulnerability discovery

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Authors: Richard Wolfel, Amy Richmond

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Urban resilience and vulnerability are critical concepts in the modern city due to the increased sociocultural, political, economic, demographic, and environmental stressors that influence current urban dynamics. Urban scholars need help explaining urban resilience and vulnerability. First, cities are dominated by people, which is challenging to model, both from an explanatory and a predictive perspective. Second, urban regions are highly recursive in nature, meaning they not only influence human action, but the structures of cities are constantly changing due to human actions. As a result, explanatory frameworks must continuously evolve as humans influence and are influenced by the urban environment in which they operate. Finally, modern cities have populations, sociocultural characteristics, economic flows, and environmental impacts on order of magnitude well beyond the cities of the past. As a result, the frameworks that seek to explain the various functions of a city that influence urban resilience and vulnerability must address the complex adaptive nature of cities and the interaction of many distinct factors that influence resilience and vulnerability in the city. This project develops a taxonomy and framework for organizing and explaining urban vulnerability. The framework is built on a well-established political development model that includes six critical classes of urban dynamics: political presence, political legitimacy, political participation, identity, production, and allocation. In addition, the framework explores how environmental security and technology influence and are influenced by the six elements of political development. The framework aims to identify key tipping points in society that act as influential agents of urban vulnerability in a region. This will help analysts and scholars predict and explain the influence of both physical and human geographical stressors in a dense urban area.

Keywords: urban resilience, vulnerability, sociocultural stressors, political stressors

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Authors: Mounir Ait Belkacem, Mehdi Boukri, Omar Amellal, Nacim Yousfi, Abderrahmane Kibboua, Med Naboussi Farsi, Mounir Naili

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The North of Algeria is located in a seismic zone, then earthquakes are probably the most likely natural disaster that would lead to major lifeline disruption. The adequate operation of lifelines is vital for the economic development of regions under moderate to high seismic activity. After an earthquake, the proper operation of all vital systems is necessary, for instance hospitals for medical attention of the wounded and highways for communication and assistance for victims.In this work we apply the knowledge of pipeline vulnerability to the water supply system, sanitary sewer pipelines (waste water), and telephone in Constantine (Algeria).

Keywords: lifeline, earthquake, vulnerability, pipelines

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Authors: Elham Fathi, Seyed Mohammad Kalantarkousheh, Abolfazl Hatami Varzane

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The present study aimed to determine predict capacity of the relationship among attachment styles, humor styles and communication patterns in female married students. Statistical population consisted of female married students from Allameh Tabataba’i University. The research sample consisted of 104 married students selected through convenience sampling. They responded to study instruments that consisted of attachment styles, humor styles and Communication patterns questionnaires. Data was analyzed by means of correlation method. The results indicated significant positive relationship between secure attachment styles with adaptive humor styles, and anxious attachment styles with maladaptive humor styles. Also a negative relationship between avoidant attachment with affiliative humor, and anxious attachment with self-enhancing humor was found. Furthermore, a negative relationship between self- enhancing humor styles with demand – withdraw communication pattern, and between affiliative humor with mutual avoidant communication pattern and a positive relationship between affiliative humor with mutual constructive communication pattern was observed. The relationship between secure attachment with mutual constructive communication pattern was positive, while relationship between avoidant attachment to mutual constructive communication pattern was negative and significant and its relation with mutual avoidant communication pattern was significantly positive. The result of regression analysis indicated that affliative humor style and secure attachment style, positively predicted mutual constructive communication pattern. Avoidant attachment style positively and affliative humor style negatively predicted the mutual avoidant communication pattern. And self-enhancing humor style negatively predicted the demand – withdraw communication pattern style.

Keywords: attachment styles, communication patterns, humor styles, female married students

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Authors: Wei Zhang, Chye Kiang Heng, John Chye Fung

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Background: The world’s demographics is currently undergoing the largest wave of both rapid ageing and dramatic urbanisation in human history. As one of the most rapidly ageing countries, Singapore will see about one in four residents aged 65 years and above by 2030 in its high-rise and high-density urban environment. Research questions: To support urban seniors ageing in place and interdependence among senior residents and their informal caregivers, this study argues a community-based care model with bottom-up mutual help networks and asks how neighbourhood built-environment influences the formulation and facilitation of bottom-up mutual help networks in Singapore. Methods: Two public housing communities with different physical environment and rich age-friendly neighbourhood initiatives were chosen as the case studies. The categories, participants and places of bottom-up mutual help activities will be obtained via field observation, non-structural interviews of participants, service providers and managers of care facilities, and documents. Mapping and content analysis will be used to explore the influences of neighbourhood built-environment on the formulation and facilitation of bottom-up mutual help networks. Results and conclusions: The results showed that neighbourhood design, place programming, and place governance have a confluence on the bottom-up mutual help networks for senior residents. Significance: The outcomes of this study will provide fresh evidence for paradigm shifts of community-based care for the elderly and neighbourhood planning. In addition, the research findings will shed light on meaningful implications of urban planners and policy makers as they tackle with the issues arising from the ageing society.

Keywords: Built environment, Mutual help, Neighbourhood, Senior residents, Singapore

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Authors: Sherry Ann Ganase, Sandra Sookram

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This study examines adaptation measures and factors that influence adaptation decisions in Bequia by using multiple linear regression and a structural equation model. Using survey data, the results suggest that households are knowledgeable and concerned about climate change but lack knowledge about the measures needed to adapt. The findings from the SEM suggest that a positive relationship exist between vulnerability and adaptation, vulnerability and perception, along with a negative relationship between perception and adaptation. This suggests that being aware of the terms associated with climate change and knowledge about climate change is insufficient for implementing adaptation measures; instead the risk and importance placed on climate change, vulnerability experienced with household flooding, drainage and expected threat of future sea level are the main factors that influence the adaptation decision. The results obtained in this study are beneficial to all as adaptation requires a collective effort by stakeholders.

Keywords: adaptation, Bequia, multiple linear regression, structural equation model

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Authors: Adandé Belarmain Fandohan

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Climate change has become a major concern globally, particularly in rural communities that have to find rapid coping solutions. Several vulnerability assessment approaches have been developed in the last decades. This comes along with a higher risk for different methods to result in different conclusions, thereby making comparisons difficult and decision-making non-consistent across areas. The effect of methods and computational approaches on estimates of people’s vulnerability was assessed using data collected from the Gambia. Twenty-four indicators reflecting vulnerability components: (exposure, sensitivity, and adaptive capacity) were selected for this purpose. Data were collected through household surveys and key informant interviews. One hundred and fifteen respondents were surveyed across six communities and two administrative districts. Results were compared over three computational approaches: the maximum value transformation normalization, the z-score transformation normalization, and simple averaging. Regardless of the approaches used, communities that have high exposure to climate change and extreme events were the most vulnerable. Furthermore, the vulnerability was strongly related to the socio-economic characteristics of farmers. The survey evidenced variability in vulnerability among communities and administrative districts. Comparing output across approaches, overall, people in the study area were found to be highly vulnerable using the simple average and maximum value transformation, whereas they were only moderately vulnerable using the z-score transformation approach. It is suggested that assessment approach-induced discrepancies be accounted for in international debates to harmonize/standardize assessment approaches to the end of making outputs comparable across regions. This will also likely increase the relevance of decision-making for adaptation policies.

Keywords: maximum value transformation, simple averaging, vulnerability assessment, West Africa, z-score transformation

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Authors: Nadjah Chergui, Narhimene Boustia

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Intrusion Detection Systems are an essential tool for network security infrastructure. However, IDSs have a serious problem which is the generating of massive number of alerts, most of them are false positive ones which can hide true alerts and make the analyst confused to analyze the right alerts for report the true attacks. The purpose behind this paper is to present a formalism model to perform correlation engine by the reduction of false positive alerts basing on vulnerability contextual information. For that, we propose a formalism model based on non-monotonic JClassicδє description logic augmented with a default (δ) and an exception (є) operator that allows a dynamic inference according to contextual information.

Keywords: context, default, exception, vulnerability

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Authors: Zerihun Yohannes Amare Id, Bernhard Freyer, Ky Serge Stephane, Ouéda Adama, Blessing Mudombi, Jean Nzuma, Mekonen Getachew Abebe, Adane Tesfaye, Birtukan Atinkut Asmare, Tesfahun Asmamaw Kassie

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The study was conducted in Ethiopia (Zege Catchment) (ZC), Zimbabwe (Upper Save Catchment) (USC), and Burkina Faso (Nakambe Catchment) (NC). The study utilized a quantitative approach with 180 participants and complemented it with qualitative methods, including 33 key informant interviews and 6 focus group discussions. Households in ZC (58%), NC (55%), and US (40%) do not cover their household food consumption from crop production. The households rely heavily on perennial cash crops rather than annual crop production. Exposure indicators in ZC (0.758), USC (0.774), and NC (0.944), and sensitivity indicators in ZC (0.849) and NC (0.937) show statistically significant and high correlation with vulnerability. In the USC, adaptive capacity (0.746) and exposure (0.774) are also statistically significant and highly correlated with vulnerability. Vulnerability levels of the NC are very high (0.75) (0.85 female and 0.65 male participants) compared to the USC (0.66) (0.69 female and 0.61 male participants) and ZC (0.47) (0.34 female and 0.58 male participants). Female-headed households had statistically significantly lower vulnerability index compared to males in ZC, while male-headed households had statistically significantly lower vulnerability index compared to females in USC and NC. The reason is land certification in ZC (80%) is higher than in the US (10%) and NC (8%). Agroforestry practices variables across the study catchments had statistically significant contributions to households' adaptive capacity. We conclude that agroforestry practices do have substantial benefits in increasing women's adaptive capacity and reducing their vulnerability to climate change and food insecurity.

Keywords: climate change vulnerability, agroforestry, gender, food security, Sub-Saharan Africa

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Authors: Sheng-Ching Wu

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This paper examines the interaction between mutual fund performance and portfolio turnover. Active trading could affect fund performance, but underperforming funds could also be traded actively at the same time to perform well. Therefore, we used two-stage least squares to address with simultaneity. The results indicate that funds with higher portfolio turnovers exhibit inferior performance compared with funds having lower turnovers. Moreover, funds with poor performance exhibit higher portfolio turnover. The findings support the assumptions that active trading erodes performance, and that fund managers with poor performance attempt to trade actively to retain employment.

Keywords: mutual funds, portfolio turnover, simultaneity, two-stage least squares

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Authors: Rosario Carmona

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This article aims to discuss the importance of indigenous people participation in climate change mitigation and adaptation. Specifically, it analyses different understandings of climate vulnerability among diverse actors involved in climate change policies in Chile: indigenous people, state officials, and academics. These data were collected through participant observation and interviews conducted during October 2017 and January 2019 in Chile. Following Karen O’Brien, there are two types of vulnerability, outcome vulnerability and contextual vulnerability. How vulnerability to climate change is understood determines the approach, which actors are involved and which knowledge is considered to address it. Because climate change is a very complex phenomenon, it is necessary to transform the institutions and their responses. To do so, it is fundamental to consider these two perspectives and different types of knowledge, particularly those of the most vulnerable, such as indigenous people. For centuries and thanks to a long coexistence with the environment, indigenous societies have elaborated coping strategies, and some of them are already adapting to climate change. Indigenous people from Chile are not an exception. But, indigenous people tend to be excluded from decision-making processes. And indigenous knowledge is frequently seen as subjective and arbitrary in relation to science. Nevertheless, last years indigenous knowledge has gained particular relevance in the academic world, and indigenous actors are getting prominence in international negotiations. There are some mechanisms that promote their participation (e.g., Cancun safeguards, World Bank operational policies, REDD+), which are not absent from difficulties. And since 2016 parties are working on a Local Communities and Indigenous Peoples Platform. This paper also explores the incidence of this process in Chile. Although there is progress in the participation of indigenous people, this participation responds to the operational policies of the funding agencies and not to a real commitment of the state with this sector. The State of Chile omits a review of the structure that promotes inequality and the exclusion of indigenous people. In this way, climate change policies could be configured as a new mechanism of coloniality that validates a single type of knowledge and leads to new territorial control strategies, which increases vulnerability.

Keywords: indigenous knowledge, climate change, vulnerability, Chile

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Authors: Toshiki Ito

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Mutual squiggle story making (MSSM ) is the development of Winnicott’s squiggle method in Japan. In the MSSM Method, a therapist has the client freely divide a piece of drawing paper into six spaces, and both the therapist and client do squiggle in each space. All six pictures finished, the therapist then asks the client to create a story using all the pictures. Making a story has the effect of reintegrating what is projected by consciousness. In this paper, the author presented a case with a junior high school girl using MSSM. And it is considered that the advantage of this technique is that (1) it enables non-verbal communication with children and adults who cannot express their feelings verbally. (2) Through this communication, the psychological content of the client and the characteristics of the client's mind can be understood, and (3) It can be said that mutual rapport is deepened by the supportive reaction of the therapist.

Keywords: MSSM, squiggle, Winnicott, drawing method

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Authors: Chao Xu

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Selecting ground motion intensity measures reasonably is one of the very important issues to affect the input ground motions selecting and the reliability of vulnerability analysis results. In this paper, inelastic spectral displacement is used as an alternative intensity measure to characterize the ground motion damage potential. The inelastic spectral displacement is calculated based modal pushover analysis and inelastic spectral displacement based incremental dynamic analysis is developed. Probability seismic demand analysis of a six story and an eleven story RC frame are carried out through cloud analysis and advanced incremental dynamic analysis. The sufficiency and efficiency of inelastic spectral displacement are investigated by means of regression and residual analysis, and compared with elastic spectral displacement. Vulnerability curves are developed based on inelastic spectral displacement. The study shows that inelastic spectral displacement reflects the impact of different frequency components with periods larger than fundamental period on inelastic structural response. The damage potential of ground motion on structures with fundamental period prolonging caused by structural soften can be caught by inelastic spectral displacement. To be compared with elastic spectral displacement, inelastic spectral displacement is a more sufficient and efficient intensity measure, which reduces the uncertainty of vulnerability analysis and the impact of input ground motion selection on vulnerability analysis result.

Keywords: vulnerability, probability seismic demand analysis, ground motion intensity measure, sufficiency, efficiency, inelastic time history analysis

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Authors: Safet Zejnullahu

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The relationship between the public and media is more than meaningful. It has been a topic of discussion as early as the birth of the media. The 'magic box' called radio adapted and transformed by following the tastes and interests of the public. Television went a step further by complementing the magic sound of the magic box with photos/images. Newspapers informed the reader, but from time to time, they also provided them the room to express their opinions. The media-public report in the traditional media is a report of a mutual respect. Today, the report between media and public should be well defined. The goal of this paper is to analyze the history of the media-public relationship, with a special emphasis on the analysis of this relationship in media of the internet time. This paper seeks to prove that the internet media has created a completely new and thus far unknown relationship between the media and public. Through research, which includes an analysis of the media in Kosovo and Albania, it will be proven that the media of the internet time has elevated this relationship to a new level, with many unknowns in terms of the functioning and role of the media. The results and findings of the paper are related to the conclusion that from the relationship in which the roles of the media and the public are known, nowadays, this relationship goes beyond the known principle and rules and is more defined as a relationship of mutual deception. The media goes beyond the line of the humility of the public, and the public seeks to direct the content of the media. The media-public report in the internet-media is a report based on mutual attempt for fraud.

Keywords: media, public, report, humility, direction

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Authors: Thuvanan Borvornvitchotikarn, Werasak Kurutach

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Mutual information (MI) is widely used in medical image registration. In the different medical images analysis, it is difficult to choose an optimal bins size number for calculating the probability distributions in MI. As the result, this paper presents a new adaptive bins number selection approach that named a hybrid EMPCA-Scott approach. This work combines an expectation maximization principal component analysis (EMPCA) and the modified Scott’s rule. The proposed approach solves the binning problem from the various intensity values in medical images. Experimental results of this work show the lower registration errors compared to other adaptive binning approaches.

Keywords: mutual information, EMPCA, Scott, probability distributions

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Authors: Serges Mendomo Meye, Li Guowei, Shen Zhenzhong

Abstract:

Earthquake is one of the main loads threatening dam safety. Once the dam is damaged, it will bring huge losses of life and property to the country and people. Therefore, it is very important to research the seismic safety of the dam. Due to the complex foundation conditions, high fortification intensity, and high scientific and technological content, it is necessary to adopt reasonable methods to evaluate the seismic safety performance of concrete arch dams built and under construction in strong earthquake areas. Structural seismic vulnerability analysis can predict the probability of structural failure at all levels under different intensity earthquakes, which can provide a scientific basis for reasonable seismic safety evaluation and decision-making. In this paper, the response surface method (RSM) is applied to the seismic vulnerability analysis of arch dams, which improves the efficiency of vulnerability analysis. Based on the central composite test design method, the material-seismic intensity samples are established. The response surface model (RSM) with arch crown displacement as performance index is obtained by finite element (FE) calculation of the samples, and then the accuracy of the response surface model (RSM) is verified. To obtain the seismic vulnerability curves, the seismic intensity measure ??(?1) is chosen to be 0.1~1.2g, with an interval of 0.1g and a total of 12 intensity levels. For each seismic intensity level, the arch crown displacement corresponding to 100 sets of different material samples can be calculated by algebraic operation of the response surface model (RSM), which avoids 1200 times of nonlinear dynamic calculation of arch dam; thus, the efficiency of vulnerability analysis is improved greatly.

Keywords: high concrete arch dam, performance index, response surface method, seismic vulnerability analysis, vector-valued intensity measure

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Authors: John Ayoade

Abstract:

Radio Frequency Identification (RFID) has gained a lot of popularity in all walks of life due to its usefulness and diverse use of the technology in almost every application. However, there have been some security concerns most especially in regards to how authentic readers and tags can confirm their authenticity before confidential data is exchanged between them. In this paper, Kerberos protocol is adopted for the mutual authentication of RFID system components in order to ensure the secure communication between those components and to realize the authenticity of the communicating components.

Keywords: RFID, security, mutual authentication, Kerberos

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Authors: Sujata Upgupta, Prasoon Kumar Singh

Abstract:

The expansion of large scale coal mining into forest areas is a potential hazard for the local biodiversity and wildlife. The objective of this study is to provide a picture of the threat that coal mining poses to the forests of the East Bokaro landscape. The vulnerable forest areas at risk have been assessed and the priority areas for conservation have been presented. The forested areas at risk in the current scenario have been assessed and compared with the past conditions using classification and buffer based overlay approach. Forest vulnerability has been assessed using an analytical framework based on systematic indicators and composite vulnerability index values. The results indicate that more than 4 km² of forests have been lost from 1973 to 2016. Large patches of forests have been diverted for coal mining projects. Forests in the northern part of the coal field within 1-3 km radius around the coal mines are at immediate risk. The original contiguous forests have been converted into fragmented and degraded forest patches. Most of the collieries are located within or very close to the forests thus threatening the biodiversity and hydrology of the surrounding regions. Based on the vulnerability values estimated, it was concluded that more than 90% of the forested grids in East Bokaro are highly vulnerable to mining. The forests in the sub-districts of Bermo and Chandrapura have been identified as the most vulnerable to coal mining activities. This case study would add to the capacity of the forest managers and mine managers to address the risk and vulnerability of forests at a small landscape level in order to achieve sustainable development.

Keywords: forest, coal mining, indicators, vulnerability

Procedia PDF Downloads 390

Authors: Pranab Kumar Das

Abstract:

Vulnerability assessment of buildings with irregularity in the vertical direction has been carried out in this study. The constructions of vertically irregular buildings are increasing in the context of fast urbanization in the developing countries including India. During two reconnaissance based survey performed after Nepal earthquake 2015 and Imphal (India) earthquake 2016, it has been observed that so many structures are damaged due to the vertically irregular configuration. These irregular buildings are necessary to perform safely during seismic excitation. Therefore, it is very urgent demand to point out the actual vulnerability of the irregular structure. So that remedial measures can be taken for protecting those structures during natural hazard as like earthquake. This assessment will be very helpful for India and as well as for the other developing countries. A sufficient number of research has been contributed to the vulnerability of plan asymmetric buildings. In the field of vertically irregular buildings, the effort has not been forwarded much to find out their vulnerability during an earthquake. Irregularity in vertical direction may be caused due to irregular distribution of mass, stiffness and geometrically irregular configuration. Detailed analysis of such structures, particularly non-linear/ push over analysis for performance based design seems to be challenging one. The present paper considered a number of models of irregular structures. Building models made of both reinforced concrete and brick masonry are considered for the sake of generality. The analyses are performed with both help of finite element method and computational method.The study, as a whole, may help to arrive at a reasonably good estimate, insight for fundamental and other natural periods of such vertically irregular structures. The ductility demand, storey drift, and seismic response study help to identify the location of critical stress concentration. Summarily, this paper is a humble step for understanding the vulnerability and framing up the guidelines for vertically irregular structures.

Keywords: ductility, stress concentration, vertically irregular structure, vulnerability

Procedia PDF Downloads 229