Search results for: night markets

Authors: Abdullah M. Algarni, Yashwant K. Malaiya

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Some of the key aspects of vulnerability-discovery, dissemination, and disclosure-have received some attention recently. However, the role of interaction among the vulnerability discoverers and vulnerability acquirers has not yet been adequately addressed. Our study suggests that a major percentage of discoverers, a majority in some cases, are unaffiliated with the software developers and thus are free to disseminate the vulnerabilities they discover in any way they like. As a result, multiple vulnerability markets have emerged. In some of these markets, the exchange is regulated, but in others, there is little or no regulation. In recent vulnerability discovery literature, the vulnerability discoverers have remained anonymous individuals. Although there has been an attempt to model the level of their efforts, information regarding their identities, modes of operation, and what they are doing with the discovered vulnerabilities has not been explored. Reports of buying and selling of the vulnerabilities are now appearing in the press; however, the existence of such markets requires validation, and the natures of the markets need to be analysed. To address this need, we have attempted to collect detailed information. We have identified the most prolific vulnerability discoverers throughout the past decade and examined their motivation and methods. A large percentage of these discoverers are located in Eastern and Western Europe and in the Far East. We have contacted several of them in order to collect first-hand information regarding their techniques, motivations, and involvement in the vulnerability markets. We examine why many of the discoverers appear to retire after a highly successful vulnerability-finding career. The paper identifies the actual vulnerability markets, rather than the hypothetical ideal markets that are often examined. The emergence of worldwide government agencies as vulnerability buyers has significant implications. We discuss potential factors that can impact the risk to society and the need for detailed exploration.

Keywords: risk management, software security, vulnerability discoverers, vulnerability markets

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Authors: Dr.Vasundhra Misra, Prof. Praveen Vashist

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Purpose: Vitamin A deficiency prevention programmes are at varying stages of development and implementation in all countries. Vitamin A deficiency has been recognized as a public health issue in developing countries like India. Despite achieving a lot of success a load of blindness due to Vitamin A deficiencies is still high. In this regard, a study was conducted to assess the awareness and health-seeking practices about Vitamin A deficiency diseases among the urban slum population of Delhi, India. Methods: A descriptive cross-sectional study was conducted in the 5 slum clusters from the urban population of South Delhi. A specially designed pre-tested questionnaire schedule was administered. The study sample was comprised of 1552 inhabitants. Results: The mean age of the respondents was 34 ± 12.1 years. A total of 1003 (64.6%) participants out of 1552, had heard of night blindness. Awareness of night blindness was more in the elderly age group and also found significant (p < 0.001). Only 31 (3.1%) knew that night blindness is caused due to deficiency of vitamin A. The awareness of vitamin A prophylaxis programme was significantly higher among elder age (p < 0.05) and females (p < 0.05). Conclusion: The findings highlighted that even though many of the respondents have heard of night blindness but the awareness about causes and treatment was found low in the community. There is a need for efforts directed to enhance community-level counseling and educational programmes.

Keywords: awareness, health-seeking practices, night blindness, vitamin-A deficiency diseases

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Authors: A. Haddick, A. Soltan

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Background: During the period of recovery from an operative obstetric procedure, a woman is not only at risk of the life-threatening complications accompanying labour but also those associated with surgery and anaesthesia. It is speculated that women in the recovery area may receive a lower standard of care over a night shift. Thus obstetric recovery room care should be evaluated regularly to ensure all women receive an equally high standard of care 24/7. Aim: The aim of this audit was to undertake an audit in the Liverpool Women’s Hospital on the care in recovery, and to ascertain the extent to which the standards were met. This audit included the full audit cycle. Method: Standards were taken from the AAGBI, RCOA, NICE and CNST guidelines. There were 12 standards including appropriate documentation of vital signs and appropriate length of stay after surgery. Notes from 100 patients were analysed from March 2011-March 2012. There were 52 day notes and 48 night notes; these were accessed to gain the relevant data. In the re audit 35 notes were accessed from March 14-September 14. Results: The Liverpool Women’s Hospital met in total 10 of these standards. 10 were met during the day shift (83%) and 0 met during the night shift. In the re audit, there was a significant improvement in the standards met at night. 9 of the standards were met during the day and 7 of the standards were met at night. Clearly there are still improvements to be made. Conclusions: In the original audit, an audit action plan was formulated. This was following discussion of the results of this audit in an MDT meeting and presentation with a consultant Obstetrician, the head of Midwifery, the head of Obstetrics theatres and a recovery nurse. This audit will be further discussed in the Liverpool Woman's Hospital in July 2015 for further implementation for improvement.

Keywords: care, recovery, room, women

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Jan Cernohorsky

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This article aims to assess the evolution of imperfect competition in selected banking markets, in particular in the banking markets of Slovakia, Poland, Hungary, Slovenia and Croatia. Another objective is to assess the evolution of the relationship of imperfect competition and profit development in the banking markets. The article first provides an overview of literature on the topic. It then measures the degree of imperfect competition in individual markets using the Herfindahl-Hirschman Index. The commonly used indicator of total assets was chosen as an indicator. Based on this measurement, the individual banking sectors are categorized into theoretical definitions of the various types of imperfect competition - namely all surveyed banking sectors falling within the theoretical definition of monopolistic competition. Subsequently, using correlation analysis, i.e., the Pearson correlation coefficient, or the Spearman correlation coefficient, the connection between the evolution of imperfect competition and the development of the gross profit on selected banking markets was surveyed. It was found that with the exception of the banking market in Slovenia, where there is a positive correlation; there is no correlation between the evolution of imperfect competition and profit development in the selected markets. This means a recommendation for the regulators that it is not appropriate to rationalize a higher degree of regulation in granting banking licenses on the size of the profits attained in the banking market, as the relationship between the degree of concentration in the banking market and the amount of profit according to our measurements does not exist.

Keywords: bank, banking system, imperfect competition, profitability

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Authors: Vinayak Malaghan, Digvijay Pawar

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Speed is the independent parameter which plays a vital role in the highway design. Design consistency of the highways is checked based on the variation in the operating speed. Often the design consistency fails to meet the driver’s expectation which results in the difference between operating and design speed. Literature reviews have shown that significant crashes take place in horizontal curves due to lack of design consistency. The paper focuses on continuous speed profile study on tangent to curve transition for both day and night daytime. Data is collected using GPS device which gives continuous speed profile and other parameters such as acceleration, deceleration were analyzed along with Tangent to Curve Transition. In this present study, models were developed to predict operating speed on tangents and horizontal curves as well as model indicating the speed reduction from tangent to curve based on continuous speed profile data. It is observed from the study that vehicle tends to decelerate from approach tangent to between beginning of the curve and midpoint of the curve and then accelerates from curve to tangent transition. The models generated were compared for both day and night and can be used in the road safety improvement by evaluating the geometric design consistency.

Keywords: operating speed, design consistency, continuous speed profile data, day and night time

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Authors: M. Taha, Hala H. Zayed, T. Nazmy, M. Khalifa

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Recently, traffic monitoring has attracted the attention of computer vision researchers. Many algorithms have been developed to detect and track moving vehicles. In fact, vehicle tracking in daytime and in nighttime cannot be approached with the same techniques, due to the extreme different illumination conditions. Consequently, traffic-monitoring systems are in need of having a component to differentiate between daytime and nighttime scenes. In this paper, a HSV-based day/night detector is proposed for traffic monitoring scenes. The detector employs the hue-histogram and the value-histogram on the top half of the image frame. Experimental results show that the extraction of the brightness features along with the color features within the top region of the image is effective for classifying traffic scenes. In addition, the detector achieves high precision and recall rates along with it is feasible for real time applications.

Keywords: day/night detector, daytime/nighttime classification, image classification, vehicle tracking, traffic monitoring

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Authors: Carlos Vera, Tetyana Baydyk, Ernst Kussul, Graciela Velasco, Miguel Aparicio

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This article describes the Random Subspace Neural Classifier (RSC) for the recognition of meteors in the night sky. We used images of meteors entering the atmosphere at night between 8:00 p.m.-5: 00 a.m. The objective of this project is to classify meteor and star images (with stars as the image background). The monitoring of the sky and the classification of meteors are made for future applications by scientists. The image database was collected from different websites. We worked with RGB-type images with dimensions of 220x220 pixels stored in the BitMap Protocol (BMP) format. Subsequent window scanning and processing were carried out for each image. The scan window where the characteristics were extracted had the size of 20x20 pixels with a scanning step size of 10 pixels. Brightness, contrast and contour orientation histograms were used as inputs for the RSC. The RSC worked with two classes and classified into: 1) with meteors and 2) without meteors. Different tests were carried out by varying the number of training cycles and the number of images for training and recognition. The percentage error for the neural classifier was calculated. The results show a good RSC classifier response with 89% correct recognition. The results of these experiments are presented and discussed.

Keywords: contour orientation histogram, meteors, night sky, RSC neural classifier, stars

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Authors: Mohamad Farhad Bakhtiyariyan

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One of the manner to earning profit and having a high income, is investing in an acceptable market. Every the thinker brain knows, investing in the business world today, maybe, have a manifold profit or lead to failure. So, before entering in the investment market, we must have a comprehensive and sufficient awareness, know markets, acquainted with the main industrial activities, know the rules and regulation and consider the conditions of society. Qatar, as a one of the richest countries in the world, can be a good destination for investment. The inflation rate, taxes, easiness of the importing, company registration, ease of exporting process, profitable and appropriate markets, simple and applicable rules, all of this has made Qatar, one of the best and gainful investment countries. Above all, Qatar 2022 world cup event, has led of investment in this country efficiently and profitable method. In this paper, first, we have introduced the Qatar and its location, also looked at the countries international markets during the world cup and we have described the impact of the world cup on business, and then the laws and regulations of the Qatar in the field of investment, company registration, ownership by foreigners, obtaining residency by investors, export and import process in second part its examined, and in third part, major investment markets, principal industrial activities in Qatar, markets affected by the world cup and the main needs of this country in various fields during the world cup, have been investigated.

Keywords: investment, Qatar, markets, world cup

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Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz

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Risk premium of emerging markets are moving altogether depending on the momentum and shifts in the global risk appetite. However, the magnitudes of these changes in the risk premium of emerging market economies might vary. In this paper, we focus on how global risk factor affects credit default swaps (CDS) premiums of emerging markets using principal component analysis (PCA) and rolling regressions. PCA results indicate that the first common component accounts for almost 76% of common variation in CDS premiums of emerging markets. Additionally, the explanatory power of the first factor seems to be high over sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are employed to identify the macroeconomic factors driving the heterogeneity across emerging markets. There are two main macroeconomic variables that affect the sensitivity; government debt to GDP and international reserves to GDP. The countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.

Keywords: emerging markets, principal component analysis, credit default swaps, sovereign risk

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Authors: Maziyar Nouraee

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Electronic markets in recent decades contribute remarkably in business transactions. Many organizations consider traditional ways of trade non-economical and therefore they do trade only through electronic markets. There are different categorizations of electronic markets functions. In one classification, functions of electronic markets are categorized into classes as information, transactions, and value added. In the present paper, effects of the three classes on the two major elements of the supply chain management are measured. The two elements are decrease in the product unit cost and reduction in response time to the customer. The results of the current research show that among nine minor elements related to the three classes of electronic markets functions, six factors and three factors influence on reduction of the product unit cost and reduction of response time to the customer, respectively.

Keywords: electronic commerce, electronic market, B2B trade, supply chain management

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Authors: Tariq Aziz, Suresh Kumar, Vikesh Kumar, Sheraz Mustafa, Jhanzeb Marwat

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The paper provides an updated version of volatility spillover among the equity markets of South Asian countries, including Pakistan, India, Srilanka, and Bangladesh. The analysis uses both symmetric and asymmetric Generalized Autoregressive Conditional Heteroscedasticity models to investigate volatility persistence and leverage effect. The bivariate EGARCH model is used to test for volatility transmission between two equity markets. Weekly data for the period February 2013 to August 2019 is used for empirical analysis. The findings indicate that the leverage effect exists in the equity markets of all the countries except Bangladesh. The volatility spillover from the equity market of Bangladesh to all other countries is negative and significant whereas the volatility of the equity market of Sri-Lanka does influence the volatility of any other country’s equity market. Indian equity market influence only the volatility of the Sri-Lankan equity market; and there is bidirectional volatility spillover between the equity markets of Pakistan and Bangladesh. The findings are important for policy-makers and international investors.

Keywords: volatility spillover, volatility persistence, garch, egarch

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Authors: Stephen M. Simmons, Stuart W. Baur, William L. Gillis

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In recent years, increasing concern has been shown towards the issue of light pollution, especially with the spread of brighter, more blue-rich LED bulbs. Much research has been conducted in order to study the effects of artificial light at night, and many adverse impacts have been discovered, such as circadian disruption, degradation of the night sky, and interference oftheprocesses and behaviors of plants and animals. Despite a plethora of informationin the literature regarding the numerous illeffects of this type of pollution, there does not appear to be a complete summary of these impacts, including their magnitudes, which would facilitate the balancing of risks and benefits in the design of an exterior lighting system. This paperprovides a comprehensive review of the known impacts of light pollution, divided into four categories - human health, night sky, plants, and animals; additionally, it includes a synopsis of what likely remains unknown at this point in time. This review will attempt to showcase the relative significance of differentimpacts within each category, as well as their sensitivity to changes in lighting specifications (brightness, color temperature, shielding, and mounting height). Methods to be employed in this research include an extensive literature review and the gathering of expert knowledge and opinions. The findings of this review will be used to inform the creation of an optimized lighting design for the Missouri University of Science and Technology campus. It is hoped that future research willexplore the known impacts of light pollution further, as well as search for what still remains to be found regarding the consequencesof artificial light at night.

Keywords: comprehensive review, impacts, light pollution, lighting design, literature review

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Authors: Murad A. Bein

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This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil.

Keywords: crude oil, spillover effects, emerging equity, time-varying, aggregate demand shock

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Authors: Kevin Wongleedee

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The objective of this research was to study the level of importance of motivation factors from the perspective of international tourist who visited Bangkok, Thailand. The independent variables included gender, age, levels of education, occupation, and income while the dependent variables were ten motivation factors. A simple random sampling method was utilized to get 200 respondents. The majority of respondents were both male and female in almost the same proportion and most were between 21-40 years old. Most were married and had a graduate degree. The average income of the respondents was between $30,000-50,000. The findings revealed the ranking levels of importance by highest mean to lowest mean as follows: Thai food, nature-beaches, spa, tradition markets, shopping places, museums, festivals, night entertainment, conference/expo, and visiting friends. In addition, the overall means is 4.11 with 0.812 SD.

Keywords: international tourist, motivation, revisit, Thailand

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Authors: Abdelmounaim Lahrech, Hajar Bousfiha

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This paper examines equity market integration between Morocco and France and its consequent implications on international portfolio diversification. In the absence of stock market linkages, Morocco can act as a diversification destination to European investors, allowing higher returns at a comparable level of risk in developed markets. In contrast, this attractiveness is limited if both financial markets show significant linkage. The research empirically measures financial market’s integration in by capturing the conditional correlation between the two markets using the Generalized Autoregressive Conditionally Heteroscedastic (GARCH) model. Then, the research uses the Dynamic Conditional Correlation (DCC) model of Engle (2002) to track the correlations. The research findings show that there is no important increase over the years in the correlation between the Moroccan and the French equity markets, even though France is considered Morocco’s first trading partner. Failing to prove evidence of the stock index linkage between the two countries, the volatility series of each market were assumed to change over time separately. Yet, the study reveals that despite the important historical and economic linkages between Morocco and France, there is no evidence that equity markets follow. The small correlations and their stationarity over time show that over the 10 years studied, correlations were fluctuating around a stable mean with no significant change at their level. Different explanations can be attributed to the absence of market linkage between the two equity markets.

Keywords: equity market linkage, DCC GARCH, international portfolio diversification, Morocco, France

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Authors: Abdullahi Ibrahim

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The culture of Clarias gariepinus for fish production is becoming increasingly essential as the fish is contributing to the food abundance and nutritional benefit to family health, income generation, and employment opportunities. The effect of feeding frequency was investigated over a period of ten (10) weeks; the experiment was conducted to monitor survival rates, growth performance, and feeding behavior of juvenile catfish. The experimental fish were randomly assigned to five treatment groups; (i.e., with different feeding frequency intervals) of 100 fish each. Each treatment was replicated twice with 50 fish per replicate. All the groups were fed with floating fish feed (blue crown®). The five treatments (feeding frequency) were T1- once a day feeding of night hours only, T2- twice a day feeding time of morning and night hours, T3- trice a day feeding time of morning, evening and night hours, T-4 four times a day feeding of morning, afternoon, evening, and night hours, T-5 five times a day feeding at four hours interval. There were significant differences (p > 0.05) among treatments. Feed intake and weight gain improved significantly (p < 0.05) in T-4 and T-3. The best of the feeding time on weight gain, survival rate, and feed conversion ratio were obtained at three times a day feeding (T-3) compared to other treatments, especially those fed once and five times feeding a regiment. This might be attributed to the high level of dissolve oxygen and less stress. Feeding fish three times a day is therefore recommended for efficient catfish production to maximize profits as the feed represents more than 50% of aquaculture inputs, particularly in intensive farming systems.

Keywords: catfish, floating fish feed, dissolve oxygen, juvenile

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Authors: Pholosho M. Kgopa, Phatu W. Mashela, Alen Manyevere

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Increasing incidents of drought spells in most Sub-Saharan Africa call for using alternative sources of water for irrigation in arid and semi-arid regions. A study was conducted to investigate chemical composition of borehole and treated wastewater from different sampling disposal sites at University of Limpopo Experimental Farm (ULEF). A 4 × 5 factorial experiment, with the borehole as a reference sampling site and three other sampling sites along the wastewater disposal system was conducted over five months. Water samples were collected at four sites namely, (a) exit from Pond 16 into the furrow, (b) entry into night-dam, (c) exit from night dam to irrigated fields and (d) exit from borehole to irrigated fields. Water samples were collected in the middle of each month, starting from July to November 2016. Samples were analysed for pH, EC, Ca, Mg, Na, K, Al, B, Zn, Cu, Cr, Pb, Cd and As. The site × time interactions were highly significant for Ca, Mg, Zn, Cu, Cr, Pb, Cd, and As variables, but not for Na and K. Sampling site was highly significant on all variables, with sampling period not significant for K and Na. Relative to water from the borehole, Na concentration in wastewater samples from the night-dam exit, night-dam entry and Pond16 exit were lower by 69, 34 and 55%, respectively. Relative to borehole water, Al was higher in wastewater sampling sites. In conclusion, both sampling site and period affected the chemical composition of treated wastewater.

Keywords: irrigation water quality, spatial effects, temporal effects, water reuse, water scarcity

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Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

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This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

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Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz

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Changes in the global risk appetite cause co-movement in emerging market risk premiums. However, the sensitivity of the changes in risk premium to the global risk appetite may vary across emerging markets. In this study, how the global risk appetite affects Credit Default Swap (CDS) premiums in emerging markets are analyzed using Principal Component Analysis (PCA) and rolling regressions. The PCA results indicate that the first common component derived by the PCA accounts for almost 76 percent of the common variation in CDS premiums. Additionally, the explanatory power of the first factor seems to be high over the sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are used to identify the macroeconomic factors driving the heterogeneity across emerging markets. The panel regression results point to the significance of government debt to GDP and international reserves to GDP in explaining sensitivity. Accordingly, countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.

Keywords: credit default swaps, emerging markets, principal components analysis, sovereign risk

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Authors: Lamis Kattan, Joanne Haddad

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This paper examines the impact of gender focused labor legislation on women's labor force participation and economic empowerment. We rely on historical legislative acts passed by state legislatures and exploit whether or not states passed regulatory laws regulating overall and industry specific employment and work conditions for women, night work laws and labor laws requiring provision of seats for working women. We exploit the fact that not all states enacted these laws as well as the variation in the timing of enactment of such laws. Our results show that women in comparison to men in treated states are more likely to be in the labor force post introduction of night work laws in comparison to control states. We also document the effect of industry-specific labor policies on women's likelihood to be employed in the affected industry and in higher-wage occupations within the industry of interest. Policy implications of our findings endorse the adoption of labor laws in favor of women to advocate their empowerment through a higher involvement in the labor market and financial independence.

Keywords: female employment, labor laws, marriage, fertility

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Authors: Hung-Yi Chen, Shih-Jye Wu

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The existing literature provides little discussion on why a public monopolist gives up its market dominant position and allows private firms entering the market. We argue that the privatization of a public monopolist under a vertically related market may induce the entry of private firms. We develop a model of a mixed oligopoly with vertically related markets to explain the change in the market from a public monopolist to a mixed oligopoly and examine issues on privatizing the downstream public enterprise both in the short run and long run in the vertically related markets. We first show that the welfare-maximizing public monopoly firm is suboptimal in the vertically related markets. This is due to the fact that the privatization will reduce the input price charged by the upstream foreign monopolist. Further, the privatization will induce the entry of private firms since input price will decrease after privatization. Third, we demonstrate that the complete privatizing the public firm becomes a possible solution if the entry cost of private firm is low. Finally, we indicate that the public firm should partially privatize if the free-entry of private firms is allowed. JEL classification: F12, F14, L32, L33

Keywords: free entry, mixed oligopoly, public monopoly, the initiation of privatization, vertically related markets, mixed oligopoly

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Authors: Dany Ng Cheong Vee, Preethee Nunkoo Gonpot, Noor Sookia

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In this paper, we consider the application of Extreme Value Theory as a risk measurement tool. The Value at Risk, for a set of indices, from six Stock Exchanges of Frontier markets is calculated using the Peaks over Threshold method and the performance of the model index-wise is evaluated using coverage tests and loss functions. Our results show that 'fat-tailedness' alone of the data is not enough to justify the use of EVT as a VaR approach. The structure of the returns dynamics is also a determining factor. This approach works fine in markets which have had extremes occurring in the past thus making the model capable of coping with extremes coming up (Colombo, Tunisia and Zagreb Stock Exchanges). On the other hand, we find that indices with lower past than present volatility fail to adequately deal with future extremes (Mauritius and Kazakhstan). We also conclude that using EVT alone produces quite static VaR figures not reflecting the actual dynamics of the data.

Keywords: extreme value theory, financial crisis 2008, value at risk, frontier markets

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Authors: Benbya Hind, Belbaly Nassim

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Markets and communities are often cast as alternative forms of knowledge sharing, but an open question is how and why people dynamically transition between them. To study these transitions, we design a technology that allows geographically distributed participants to either buy knowledge (using virtual points) or request it for free. We use a data-driven, inductive approach, studying 550 members in over 5000 interactions, during nine months. Because the technology offered participants choices between market or community forms, we can document both individual and collective transitions that emerge as people cycle between these forms. Our inductive analysis revealed that uncertainties endemic to knowledge sharing were the impetus for these transitions. Communities evoke uncertainties about knowledge sharing’s costs and benefits, which markets resolve by quantifying explicit prices. However, if people manipulate markets, they create uncertainties about the validity of those prices, allowing communities to reemerge to establish certainty via identity-based validation.

Keywords: knowledge sharing, communities, information technology design, transitions, markets

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Authors: Oksana Mykytyuk

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Chronic desynchronosis is an important factor of progression of osteoarthritis in shift workers. 80 patients with primary osteoarthritis (female:male ratio = 3:1, average age: 57.6 years, average disease duration: 6.4 years, radiological stage: II-III) were examined, 42% reported systematic night shift-work for more than two years. Full clinical examination was performed, all patients filled in SF-36, WOMAC questonnaries, marked visual analog scales for estimation of pain intensity and general well-being. Patients who had been exposed to night work had significantly worse clinical course of osteoarthritis marked by more (27.5%, p < 0.05) extensive pain syndrome, especially at night hours, (10.00 pm-2.00 am period) and estimated life quality as poorer comparing those working at day time. Osteoarthritis initiation occurred at earlier age in them comparing those who worked in non-shifted regimen. They showed a trend to generalized affliction of bigger quantity of joint groups, higher frequency of synovitis as well. Shift-workers administered higher doses of non-steroid anti-inflammatory drugs (NSAIDs) and estimated their effect as lower (39.6% average daily relief vs 62.5% in non-shift workers after 10 days of regular application of therapy). Frequency of chronic NSAID-induced gastropathy was 25% higher among night-workers. Shift-workers are predisposed to worse course of osteoarthritis with marked clinical symptoms, requiring higher doses on NSAIDs and with inclination towards bigger frequency of complication. That should be kept in mind while developing individual treatment and secondary prophylaxis strategy.

Keywords: desynchronosis, osteoarthritis, questionnaries, shift-work

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Authors: Emi Yuda, Yutaka Yoshida, Junichiro Hayano

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Distinct circadian rhythm of activity, i.e., high activity during the day and deep rest at night are a typical feature of a healthy lifestyle. Exposure to the skylight is thought to be an important factor to increase arousal level and maintain normal circadian rhythm. To examine whether sunshine hours influence the day-night contract of activity, we analyzed the relationship between 24-hour heart rate (HR) and weather data of the recording day. We analyzed data in 36,500 males and 49,854 females of Allostatic State Mapping by Ambulatory ECG Repository (ALLSTAR) database in Japan. Median (IQR) sunshine duration was 5.3 (2.8-7.9) hr. While sunshine hours had only modest effects of increasing 24-hour average HR in either gender (P=0.0282 and 0.0248 for male and female) and no significant effects on nighttime HR in either gender, it increased daytime HR (P = 0.0007 and 0.0015) and day-night HF difference in both genders (P < 0.0001 for both) even after adjusting for the effects of average temperature, atmospheric pressure, and humidity. Our observations support for the hypothesis that longer sunshine hours enhance circadian rhythm of activity.

Keywords: big data, circadian rhythm, heart rate, sunshine

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Authors: Abdulrahman M. Alsuhaibani, Martin Maken

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FACTS devices have great influence on the grid stability and power markets price. Recently, there is intent to integrate a large scale of renewable energy sources to the power system which in turn push the power system to operate closer to the security limits. This paper discusses the power system stability and reliability improvement that could be achieved by using FACTS. There is a comparison between FACTS devices to evaluate their performance for different functions. A case study has also been made about its effect on reducing generation cost and minimizing transmission losses which have good impact on efficient and economic operation of electricity markets

Keywords: FACTS, grid stability, spot price, OPF

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Authors: H. Florianová, J. Nešleha

Abstract:

Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: capital markets, financial derivatives, investors' behavior, regulation

Procedia PDF Downloads 256

Authors: Mario Jose Paillacho Silva, José Ángel Pérez López

Abstract:

This article delves into the critical role of circular economy principles in unlocking sustainable growth and addressing environmental inequalities in emerging markets. Circular economy practices, rooted in regenerative systems and resource conservation, offer a transformative pathway for dynamic economies to achieve prosperity while minimizing environmental impact. The article comprehensively explores the understanding of the circular economy in emerging markets, emphasizing its economic benefits, social implications, and environmental advantages. It highlights key challenges and opportunities faced by these markets and emphasizes the crucial role of governments in creating supportive policy frameworks. It emphasizes how circular economy practices empower local communities and promote social inclusion and equality. Furthermore, the article underscores how the adoption of circular economy practices can mitigate waste, pollution, and resource scarcity, thus contributing to climate change mitigation and adaptation. Integrating circular economy principles with the United Nations' sustainable development goals (SDGs), the article showcases the potential of circularity in fostering responsible consumption and production, sustainable economic growth, and environmental protection. Overall, the article advocates for cross-sector collaboration and knowledge sharing to overcome barriers and scale circular economy practices in emerging markets, ultimately leading to a more equitable, prosperous, and environmentally sustainable future.

Keywords: circular economy, sustainability, emerging markets, circularity

Procedia PDF Downloads 60

Authors: Chisakan Papapankiad

Abstract:

The purpose of this research was to study the level of satisfaction from the perspective of inbound tourists who visited Bangkok, Thailand during January to March of 2014. While the independent variables included gender, age, levels of education, occupation, and income, the dependent variables were ten reasons for their visiting Thailand. A quota sampling method was utilized to get 200 respondents with 50 percent male and 50 percent female respondents. The majority of respondents were between 30-40 years old. Most were married and had an undergraduate degree. The average income of the respondents was between $30,000-50,000 per year. The findings revealed the ranking levels of satisfaction by highest mean to lowest mean as follows: Thai food and beverage, nature-beach-mountain, spa-massage-beauty, malls-shopping places, souvenir and handcraft, festivals and activities, tradition markets, museum-art-history, night entertainment, and conference-expo. In addition, the overall means is 4.19 with 0.790 SD.

Keywords: inbound tourists, satisfaction, visiting, Thailand

Procedia PDF Downloads 375