Search results for: ordered probit model
17015 Climate-Smart Agriculture Technologies and Determinants of Farmers’ Adoption Decisions in the Great Rift Valley of Ethiopia
Authors: Theodrose Sisay, Kindie Tesfaye, Mengistu Ketema, Nigussie Dechassa, Mezegebu Getnet
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Agriculture is a sector that is very vulnerable to the effects of climate change and contributes to anthropogenic greenhouse gas (GHG) emissions in the atmosphere. By lowering emissions and adjusting to the change, it can also help to reduce climate change. Utilizing Climate-Smart Agriculture (CSA) technology that can sustainably boost productivity, improve resilience, and lower GHG emissions is crucial. This study sought to identify the CSA technologies used by farmers and assess adoption levels and factors that influence them. In order to gather information from 384 smallholder farmers in the Great Rift Valley (GRV) of Ethiopia, a cross-sectional survey was carried out. Data were analysed using percentage, chi-square test, t-test, and multivariate probit model. Results showed that crop diversification, agroforestry, and integrated soil fertility management were the most widely practiced technologies. The results of the Chi-square and t-tests showed that there are differences and significant and positive connections between adopters and non-adopters based on various attributes. The chi-square and t-test results confirmed that households who were older had higher incomes, greater credit access, knowledge of the climate, better training, better education, larger farms, higher incomes, and more frequent interactions with extension specialists had a positive and significant association with CSA technology adopters. The model result showed that age, sex, and education of the head, farmland size, livestock ownership, income, access to credit, climate information, training, and extension contact influenced the selection of CSA technologies. Therefore, effective action must be taken to remove barriers to the adoption of CSA technologies, and taking these adoption factors into account in policy and practice is anticipated to support smallholder farmers in adapting to climate change while lowering emissions.Keywords: climate change, climate-smart agriculture, smallholder farmers, multivariate probit model
Procedia PDF Downloads 12817014 Factors Influencing Adoption of Climate-Smart Agricultural Practices among Maize Farmers in Ondo State, Nigeria
Authors: Oduntan Oluwakemi, Obisesan Adekemi Adebisola, Ayo-Bello Taofeeq Ayodeji
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The study examined the factors influencing the adoption of climate-smart agricultural practices among maize farmers in Ondo State, Nigeria. A Multi-stage sampling procedure was used to randomly select one hundred respondents for the study. Primary data were collected from the respondents with the aid of a structured questionnaire and analysed using descriptive statistics and a probit regression model. The results of this study showed that crop diversification was the most adopted climate-smart agricultural practice by the respondents, and adoption of Climate Smart Agricultural practices is still very low among the respondents. Results of probit regression revealed that marital status, access to extension services, farming experience, membership of farmers’ association, and access to credit had a positive influence on the adoption of climate-smart agricultural practices, while age, farm size, and total income had a negative influence. Based on the findings of the study, it was recommended that government should develop suitable policies that will encourage farmers, especially rural farmers, to adopt and utilize Climate Smart Agricultural Practices (CSAP). Equally, the study also recommended government should be geared towards supporting improved extension services, providing on-farm demonstration training, disseminating information about climate-smart agricultural practices, and providing credit facilities through the Agricultural Credit Guarantee Scheme Fund and bank credit to farmers in order to enhance the adoption.Keywords: adoption, agriculture, climate-smart, farmers, maize, Nigeria
Procedia PDF Downloads 13617013 Modelling the Effect of Psychological Capital on Climate Change Adaptation among Smallholders from South Africa
Authors: Unity Chipfupa, Aluwani Tagwi, Edilegnaw Wale
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Climate change adaptation studies are challenged by a limited understanding of how non-cognitive factors such as psychological capital affect adaptation decisions of smallholder farmers. The concept of psychological capital has not been fully applied in the empirical literature on climate change adaptation strategies. Hence, the study was meant to assess how psychological capital endowment affects climate change adaptation among smallholder farmers. A multivariate probit regression model was estimated using data collected from 328 smallholder farmers in KwaZulu-Natal, South Africa. The findings indicate that, among other factors, self-confidence and hope or aspirations in farming influence climate change adaptation decisions of smallholders. The psychological capital theory proved to be comprehensive in identifying specific psychological dimensions associated with adaptation decisions. However, the non-alignment of approaches for measuring non-cognitive factors made it difficult to compare results among different studies. In conclusion, the study recommends the need for practical ways for enhancing smallholders’ endowment with key non-cognitive abilities. Researchers should develop and agree on a comprehensive framework for assessing non-cognitive factors critical for climate change adaptation. This will improve the use of positive psychology theories to advance the literature on climate change adaptation. Other key recommendations include targeted support for communities facing higher risks of climate change, improving smallholders’ ability to adapt, promotion of social networks and the inclusion of farming objectives as an important indicator in climate change adaptation research.Keywords: adaptive capacity, climate change adaptation, psychological capital, multivariate probit, non-cognitive factors.
Procedia PDF Downloads 15117012 Crystal Structures and High-Temperature Phase Transitions of the New Ordered Double Perovskites SrCaCoTeO6 and SrCaNiTeO6
Authors: Asmaa Zaraq
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In the present work we report X-ray powder diffraction measurements of SrCaCoTeO6 and SrCaNiTeO6, at different temperatures. The crystal structures at room temperature of both compounds are determined; and results showing the existence of high-temperature phase transitions in them are presented. Both compounds have double perovskite structure with 1:1 ordered arrangement of the B site cations. At room temperature their symmetries are described with the P21/n space group, that correspond to the (a+b-b-) tilt system. The evolution with temperature of the structure of both compounds shows the presence of three phase transitions: a continuous one, at 450 and 500 K, a discontinuous one, at 700 and 775 K, and a continuous one at 900 and 950 K for SrCaCoTeO6 and SrCaNiTeO6, respectively with the following phase-transition sequence: P21/n → I2/m → I4/m → Fm-3m.Keywords: double perovskites, caracterisation DRX, transition de phase
Procedia PDF Downloads 52217011 Short-Range and Long-Range Ferrimagnetic Order in Fe(Te₁.₅Se₀.₅)O₅Cl
Authors: E. S. Kozlyakova, A. A. Eliseev, A. V. Moskin, A. Y. Akhrorov, P. S. Berdonosov, V. A. Dolgikh, K. N. Denisova, P. Lemmens, B. Rahaman, S. Das, T. Saha-Dasgupta, A. N. Vasiliev, O. S. Volkova
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Considerable attention has been paid recently to FeTe₂O₅Cl due to reduced dimensionality and frustration in the magnetic subsystem, succession of phase transitions, and multiferroicity. The efforts to grow its selenite sibling resulted in mixed halide compound, Fe(Te₁.₅Se₀.₅)O₅Cl, which was found crystallizing in a new structural type and possessing properties drastically different from those of a parent system. Hereby we report the studies of magnetization M and specific heat Cₚ, combined with Raman spectroscopy and density functional theory calculations in Fe(Te₁.₅Se₀.₅)O₅Cl. Its magnetic subsystem features weakly coupled Fe³⁺ - Fe³⁺ dimers showing the regime of short-range correlations at TM ~ 70 K and long-range order at TN = 22 K. In a magnetically ordered state, sizable spin-orbital interactions lead to a small canting of Fe³⁺ moments. The density functional theory calculations of leading exchange interactions were found in agreement with measurements of thermodynamic properties and Raman spectroscopy. Besides, because of the relatively large magnetic moment of the Fe³⁺ ion, we found that magnetic dipole-dipole interactions contribute significantly to experimentally observed orientation of magnetization easy axis in ac-plane. As a conclusion, we suggest a model of magnetic subsystem in magnetically ordered state of Fe(Te₁.₅Se₀.₅)O₅Cl based on a model of interacting dimers.Keywords: dipole-dipole interactions, low dimensional magnetism, selenite, spin canting
Procedia PDF Downloads 16717010 Fabrication of Coatable Polarizer by Guest-Host System for Flexible Display Applications
Authors: Rui He, Seung-Eun Baik, Min-Jae Lee, Myong-Hoon Lee
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The polarizer is one of the most essential optical elements in LCDs. Currently, the most widely used polarizers for LCD is the derivatives of the H-sheet polarizer. There is a need for coatable polarizers which are much thinner and more stable than H-sheet polarizers. One possible approach to obtain thin, stable, and coatable polarizers is based on the use of highly ordered guest-host system. In our research, we aimed to fabricate coatable polarizer based on highly ordered liquid crystalline monomer and dichroic dye ‘guest-host’ system, in which the anisotropic absorption of light could be achieved by aligning a dichroic dye (guest) in the cooperative motion of the ordered liquid crystal (host) molecules. Firstly, we designed and synthesized a new reactive liquid crystalline monomer containing polymerizable acrylate groups as the ‘host’ material. The structure was confirmed by 1H-NMR and IR spectroscopy. The liquid crystalline behavior was studied by differential scanning calorimetry (DSC) and polarized optical microscopy (POM). It was confirmed that the monomers possess highly ordered smectic phase at relatively low temperature. Then, the photocurable ‘guest-host’ system was prepared by mixing the liquid crystalline monomer, dichroic dye and photoinitiator. Coatable polarizers were fabricated by spin-coating above mixture on a substrate with alignment layer. The in-situ photopolymerization was carried out at room temperature by irradiating UV light, resulting in the formation of crosslinked structure that stabilized the aligned dichroic dye molecules. Finally, the dichroic ratio (DR), order parameter (S) and polarization efficiency (PE) were determined by polarized UV/Vis spectroscopy. We prepared the coatable polarizers by using different type of dichroic dyes to meet the requirement of display application. The results reveal that the coatable polarizers at a thickness of 8μm exhibited DR=12~17 and relatively high PE (>96%) with the highest PE=99.3%, which possess potential for the LCD or flexible display applications.Keywords: coatable polarizer, display, guest-host, liquid crystal
Procedia PDF Downloads 25217009 Predisposition of Small Scale Businesses in Fagge, Kano State, Nigeria, Towards Profit and Loss Sharing Mode of Finance
Authors: Farida, M. Shehu, Shehu U. R. Aliyu
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Access to finance has been recognized in the literature as one of the major impediments confronting small scale businesses (SSBs). This largely arises due to high lending rate, religious inclinations, collateral, etc. Islamic mode finance operates under Profit and Loss Sharing (PLS) arrangement between a borrower (business owner) and a lender (Islamic bank). This paper empirically assesses the determinants of predisposition of small scale business operators in Fagge local government area, Kano State, Nigeria, towards the PLS. Cross-sectional data from a sample of 291 small scale business operators was analyzed using logit and probit regression models. Empirical results reveal that while awareness and religion inclination positively drive interest towards the PLS, lending rate and collateral work against it. The paper, therefore, strongly recommends more advocacy campaigns and setting up of more Islamic banks in the country to cater for the financing and religious needs of SSBs in the study area.Keywords: Islamic finance, logit and probit models, profit and loss sharing small scale businesses, finance, commerce
Procedia PDF Downloads 37217008 Examining the Cognitive Abilities and Financial Literacy Among Street Entrepreneurs: Evidence From North-East, India
Authors: Aayushi Lyngwa, Bimal Kishore Sahoo
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The study discusses the relationship between cognitive ability and the level of education attained by the tribal street entrepreneurs on their financial literacy. It is driven by the objective of examining the effect of cognitive ability on financial ability on the one hand and determining the effect of the same on financial literacy on the other. A field experiment was conducted on 203 tribal street vendors in the north-eastern Indian state of Mizoram. This experiment's calculations are conditioned by providing each question scores like math score (cognitive ability), financial score and debt score (financial ability). After that, categories for each of the variables, like math category (math score), financial category (financial score) and debt category (debt score), are generated to run the regression model. Since the dependent variable is ordinal, an ordered logit regression model was applied. The study shows that street vendors' cognitive and financial abilities are highly correlated. It, therefore, confirms that cognitive ability positively affects the financial literacy of street vendors through the increase in attainment of educational levels. It is also found that concerning the type of street vendors, regular street vendors are more likely to have better cognitive abilities than temporary street vendors. Additionally, street vendors with more cognitive and financial abilities gained better monthly profits and performed habits of bookkeeping. The study attempts to draw a particular focus on a set-up which is economically and socially marginalized in the Indian economy. Its finding contributes to understanding financial literacy in an understudied area and provides policy implications through inclusive financial systems solutions in an economy limited to tribal street vendors.Keywords: financial literacy, education, street entrepreneurs, tribals, cognitive ability, financial ability, ordered logit regression.
Procedia PDF Downloads 11017007 Assessment of the Level of Awareness and Adoption of International Public Sector Accounting Standards (IPSAS) in the Curriculum of Accounting Education in Selected Tertiary Institutions in Ondo and Ekiti States Nigeria
Authors: Olurankinse Felix, Fatukasi Bayo
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Over the years, the medium through which government financial statements are prepared has been on cash basis of accounting. This basis was characterised with some shortcomings ranging from non- disclosure of quality and detail information relating to government financial transactions, ill informed assessment of government resource allocation, weak internal control system that inhibits accountability and transparency and non- standardisation of reporting ethics for the purpose of comparability. The emergence of international public sector accounting standards (IPSAS) is therefore seen as leverage as it aims at improving the quality of general purpose financial reporting by public sector entities thereby increasing transparency and accountability. IPSAS is a new concept that all institutions must fully adopts. The crux of this paper is to find out to what extent is the awareness and adoption of IPSAS to both students and lecturers interms of teaching, learning and inclusion in the curriculum of accounting education. The methodology involved the use of well designed questionnaires to obtain information from some selected institutions and the analysis was done with the use of maximum likelihood ordered probit regression. The result of the analysis shows that despite a high level of sensitisation/awareness of IPSAS, the degree of adoption is still low due to low level of desirability by students and lecturers. The paper recommend the need for the government to enact an enabling law to back up the adoption and more importantly to institute appropriate sanctions to ensure full compliance.Keywords: assessment, awareness, adoption, IPSAS, cash basis
Procedia PDF Downloads 48517006 Modeling Default Probabilities of the Chosen Czech Banks in the Time of the Financial Crisis
Authors: Petr Gurný
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One of the most important tasks in the risk management is the correct determination of probability of default (PD) of particular financial subjects. In this paper a possibility of determination of financial institution’s PD according to the credit-scoring models is discussed. The paper is divided into the two parts. The first part is devoted to the estimation of the three different models (based on the linear discriminant analysis, logit regression and probit regression) from the sample of almost three hundred US commercial banks. Afterwards these models are compared and verified on the control sample with the view to choose the best one. The second part of the paper is aimed at the application of the chosen model on the portfolio of three key Czech banks to estimate their present financial stability. However, it is not less important to be able to estimate the evolution of PD in the future. For this reason, the second task in this paper is to estimate the probability distribution of the future PD for the Czech banks. So, there are sampled randomly the values of particular indicators and estimated the PDs’ distribution, while it’s assumed that the indicators are distributed according to the multidimensional subordinated Lévy model (Variance Gamma model and Normal Inverse Gaussian model, particularly). Although the obtained results show that all banks are relatively healthy, there is still high chance that “a financial crisis” will occur, at least in terms of probability. This is indicated by estimation of the various quantiles in the estimated distributions. Finally, it should be noted that the applicability of the estimated model (with respect to the used data) is limited to the recessionary phase of the financial market.Keywords: credit-scoring models, multidimensional subordinated Lévy model, probability of default
Procedia PDF Downloads 45617005 Establishing Multi-Leveled Computability as a Living-System Evolutionary Context
Authors: Ron Cottam, Nils Langloh, Willy Ranson, Roger Vounckx
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We start by formally describing the requirements for environmental-reaction survival computation in a natural temporally-demanding medium, and develop this into a more general model of the evolutionary context as a computational machine. The effect of this development is to replace deterministic logic by a modified form which exhibits a continuous range of dimensional fractal diffuseness between the isolation of perfectly ordered localization and the extended communication associated with nonlocality as represented by pure causal chaos. We investigate the appearance of life and consciousness in the derived general model, and propose a representation of Nature within which all localizations have the character of quasi-quantal entities. We compare our conclusions with Heisenberg’s uncertainty principle and nonlocal teleportation, and maintain that computability is the principal influence on evolution in the model we propose.Keywords: computability, evolution, life, localization, modeling, nonlocality
Procedia PDF Downloads 39917004 Light-Scattering Characteristics of Ordered Arrays Nobel Metal Nanoparticles
Authors: Yassine Ait-El-Aoud, Michael Okomoto, Andrew M. Luce, Alkim Akyurtlu, Richard M. Osgood III
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Light scattering of metal nanoparticles (NPs) has a unique, and technologically important effect on enhancing light absorption in substrates because most of the light scatters into the substrate near the localized plasmon resonance of the NPs. The optical response, such as the resonant frequency and forward- and backward-scattering, can be tuned to trap light over a certain spectral region by adjusting the nanoparticle material size, shape, aggregation state, Metallic vs. insulating state, as well as local environmental conditions. In this work, we examined the light scattering characteristics of ordered arrays of metal nanoparticles and the light trapping, in order to enhance absorption, by measuring the forward- and backward-scattering using a UV/VIS/NIR spectrophotometer. Samples were fabricated using the popular self-assembly process method: dip coating, combined with nanosphere lithography.Keywords: dip coating, light-scattering, metal nanoparticles, nanosphere lithography
Procedia PDF Downloads 32917003 Size, Shape, and Compositional Effects on the Order-Disorder Phase Transitions in Au-Cu and Pt-M (M = Fe, Co, and Ni) Nanocluster Alloys
Authors: Forrest Kaatz, Adhemar Bultheel
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Au-Cu and Pt-M (M = Fe, Co, and Ni) nanocluster alloys are currently being investigated worldwide by many researchers for their interesting catalytic and nanophase properties. The low-temperature behavior of the phase diagrams is not well understood for alloys with nanometer sizes and shapes. These systems have similar bulk phase diagrams with the L12 (Au3Cu, Pt3M, AuCu3, and PtM3) structurally ordered intermetallics and the L10 structure for the AuCu and PtM intermetallics. We consider three models for low temperature ordering in the phase diagrams of Au–Cu and Pt–M nanocluster alloys. These models are valid for sizes ~ 5 nm and approach bulk values for sizes ~ 20 nm. We study the phase transition in nanoclusters with cubic, octahedral, and cuboctahedral shapes, covering the compositions of interest. These models are based on studying the melting temperatures in nanoclusters using the regular solution, mixing model for alloys. Experimentally, it is extremely challenging to determine thermodynamic data on nano–sized alloys. Reasonable agreement is found between these models and recent experimental data on nanometer clusters in the Au–Cu and Pt–M nanophase systems. From our data, experiments on nanocubes about 5 nm in size, of stoichiometric AuCu and PtM composition, could help differentiate between the models. Some available evidence indicates that ordered intermetallic nanoclusters have better catalytic properties than disordered ones. We conclude with a discussion of physical mechanisms whereby ordering could improve the catalytic properties of nanocluster alloys.Keywords: catalytic reactions, gold nanoalloys, phase transitions, platinum nanoalloys
Procedia PDF Downloads 17617002 The Preparation of 2H-Indazolo [2, 1-b] Phthalazinetriones by One-Pot 4,4ʹ-Bipyridinium Dichloride Ordered Mesoporous Silica
Authors: Aigin Bashti
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Preparation of multicomponent reactions (MCRs) via a simple one-pot strategy is considered a novel procedure which has attracted a lot of interest from organic and medicinal chemists. Due to the great importance of phthalazide triones, it was decided to introduce a novel and cost-effective green procedure for the preparation of these derivatives. In this methodology, an efficient 4,4ʹ-Bipyridinium Dichloride Ordered Mesoporous Silica functionalized catalyst (BP-SBA-15) was utilized. The catalyst was characterized by X-ray diffraction analysis (XRD), field emission scanning electron microscopy (FESEM), transmission electron microscopy (TEM), thermo-gravimetric analysis (TGA), and Fourier-transform infrared spectroscopy (FT-IR) analysis. In conclusion, it should be mentioned that this methodology has some advantages, including short reaction time, high yield of the products, recyclable catalyst, green procedure, and facile work-up procedure. The catalyst was successfully utilized for the one-pot preparation of various phthalazinetrione derivatives.Keywords: dimedone, green procedure, multicomponent reactions, phthalhydrazide
Procedia PDF Downloads 9917001 The Effect of Aromatherapy Candle as Insecticide from Citrus Extract of Lemongrass (Cymbopogon) to Increase Ae. aegypti Mortality
Authors: Nurul Hidayah, Farida Rahmatika, Fathimah Azzahra, Nesty Herennadia
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Aromatherapy candles are one of the insecticide media that have not been much researched. The active ingredient that is proven to have the effect of insecticide is a citrus extract from lemongrass oil (Cymbopogon). Aromatherapy candles are added by citrus compounds to be insecticidal for Ae. aegypti mosquito that was related to the infectious disease such as dengue fever. This research aims to find out if aromatherapy candles of citrus compounds have an insecticidal effect on Ae. aegypti mosquito. We used true experimental design including posttest only with control group design. The samples are 20 male and female Ae. aegypti mosquitos with aged 1-7 days belong to the inclusion criteria. The subjects were divided into 6 groups, consisting of 1 negative control group and 5 treatment groups with variation concentration are 1%; 2%; 3%; 4%; 5%. Each group will be treated for 2 hours and observed death after 24 hours. Replication in each group is done 4 times. The results were then tested statistically using Kruskal-Wallis and probit test. Mean of death in negative control group, and treatment group 1%; 2%; 3%; 4%; 5% respectively 0; 1; 0.25; 0; 1 and 1 mosquito. The Kruskal-Wallis test in the study group found no significant difference (p = 0.178). The probit analysis showed that LC50 and LC90 were 20.069% and 31.557%. The aromatherapy candle of a citrus compound has an insecticidal effect on the Ae aegypti mosquito.Keywords: Ae. aegypti insecticide, aromatherapy candle, citrus compound, lemongrass oil (Cymbopogon)
Procedia PDF Downloads 19117000 Fabrication of Highly-Ordered Interconnected Porous Polymeric Particles and Structures
Authors: Mohammad Alroaithi
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Porous polymeric materials have attracted a great attention due to their distinctive porous structure within a polymer matrix. They are characterised by the presence of external pores on the surface as well as inner interconnected windows. Conventional techniques to produce porous polymeric materials encounters major challenge in controlling the properties of the resultant structures including morphology, pores, cavities size, and porosity. Herein, we present a facile and versatile microfluidics technique for the fabrication of uniform porous polymeric structures with highly ordered and well-defined interconnected windows. The shapes of the porous structures can either be a microparticles or foam. Both shapes used microfluidics platform to first produce monodisperse emulsion. The uniform emulsions, were then consolidated into porous structures through UV photopolymerisation. The morphology, pores, cavities size, and porosity of the structures can be precisely manipulated by the flowrate. The proposed strategy might provide a key advantage for fabrication of uniform porous materials over many existing technologies.Keywords: polymer, porous particles, microfluidics, porous structures
Procedia PDF Downloads 18616999 Farmers’ Access to Agricultural Extension Services Delivery Systems: Evidence from a Field Study in India
Authors: Ankit Nagar, Dinesh Kumar Nauriyal, Sukhpal Singh
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This paper examines the key determinants of farmers’ access to agricultural extension services, sources of agricultural extension services preferred and accessed by the farmers. An ordered logistic regression model was used to analyse the data of the 360 sample households based on a primary survey conducted in western Uttar Pradesh, India. The study finds that farmers' decision to engage in the agricultural extension programme is significantly influenced by factors such as education level, gender, farming experience, social group, group membership, farm size, credit access, awareness about the extension scheme, farmers' perception, and distance from extension sources. The most intriguing finding of this study is that the progressive farmers, which have long been regarded as a major source of knowledge diffusion, are the most distrusted sources of information as they are suspected of withholding vital information from potential beneficiaries. The positive relationship between farm size and ‘Access’ underlines that the extension services should revisit their strategies for targeting more marginal and small farmers constituting over 85 percent of the agricultural households by incorporating their priorities in their outreach programs. The study suggests that marginal and small farmers' productive potential could still be greatly augmented by the appropriate technology, advisory services, guidance, and improved market access. Also, the perception of poor quality of the public extension services can be corrected by initiatives aimed at building up extension workers' capacity.Keywords: agriculture, access, extension services, ordered logistic regression
Procedia PDF Downloads 21816998 A-Score, Distress Prediction Model with Earning Response during the Financial Crisis: Evidence from Emerging Market
Authors: Sumaira Ashraf, Elisabete G.S. Félix, Zélia Serrasqueiro
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Traditional financial distress prediction models performed well to predict bankrupt and insolvent firms of the developed markets. Previous studies particularly focused on the predictability of financial distress, financial failure, and bankruptcy of firms. This paper contributes to the literature by extending the definition of financial distress with the inclusion of early warning signs related to quotation of face value, dividend/bonus declaration, annual general meeting, and listing fee. The study used five well-known distress prediction models to see if they have the ability to predict early warning signs of financial distress. Results showed that the predictive ability of the models varies over time and decreases specifically for the sample with early warning signs of financial distress. Furthermore, the study checked the differences in the predictive ability of the models with respect to the financial crisis. The results conclude that the predictive ability of the traditional financial distress prediction models decreases for the firms with early warning signs of financial distress and during the time of financial crisis. The study developed a new model comprising significant variables from the five models and one new variable earning response. This new model outperforms the old distress prediction models before, during and after the financial crisis. Thus, it can be used by researchers, organizations and all other concerned parties to indicate early warning signs for the emerging markets.Keywords: financial distress, emerging market, prediction models, Z-Score, logit analysis, probit model
Procedia PDF Downloads 24416997 Hedging and Corporate Governance: Lessons from the Financial Crisis
Authors: Rodrigo Zeidan
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The paper identifies failures of decision making and corporate governance that allow non-financial companies around the world to develop hedging strategies that lead to hefty losses in the aftermath of the financial crisis. The sample is comprised of 346 companies from 10 international markets, of which 49 companies (and a subsample of 13 distressed companies) lose a combined US$18.9 billion. An event study shows that most companies that present losses in derivatives experience negative abnormal returns, including a number of companies in which the effect is persistent after a year. The results of a probit model indicate that the lack of a formal hedging policy, no monitoring to the CFOs, and considerations of hubris and remuneration contribute to the mismanagement of hedging policies.Keywords: risk management, hedging, derivatives, monitoring, corporate governance structure, event study, hubris
Procedia PDF Downloads 44316996 Self-Assembly of TaC@Ta Core-Shell-Like Nanocomposite Film via Solid-State Dewetting: Toward Superior Wear and Corrosion Resistance
Authors: Ping Ren, Mao Wen, Kan Zhang, Weitao Zheng
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The improvement of comprehensive properties including hardness, toughness, wear, and corrosion resistance in the transition metal carbides/nitrides TMCN films, especially avoiding the trade-off between hardness and toughness, is strongly required to adapt to various applications. Although incorporating ductile metal DM phase into the TMCN via thermally-induced phase separation has been emerged as an effective approach to toughen TMCN-based films, the DM is just limited to some soft ductile metal (i.e. Cu, Ag, Au immiscibility with the TMCN. Moreover, hardness is highly sensitive to soft DM content and can be significantly worsened. Hence, a novel preparation method should be attempted to broaden the DM selection and assemble much more ordered nanocomposite structure for improving the comprehensive properties. Here, we provide a new strategy, by activating solid-state dewetting during layered deposition, to accomplish the self-assembly of ordered TaC@Ta core-shell-like nanocomposite film consisting of TaC nanocrystalline encapsulated with thin pseudocrystal Ta tissue. That results in the superhard (~45.1 GPa) dominated by Orowan strengthening mechanism and high toughness attributed to indenter-induced phase transformation from the pseudocrystal to body-centered cubic Ta, together with the drastically enhanced wear and corrosion resistance. Furthermore, very thin pseudocrystal Ta encapsulated layer (~1.5 nm) in the TaC@Ta core-shell-like structure helps for promoting the formation of lubricious TaOₓ Magnéli phase during sliding, thereby further dropping the coefficient of friction. Apparently, solid-state dewetting may provide a new route to construct ordered TMC(N)@TM core-shell-like nanocomposite capable of combining superhard, high toughness, low friction, superior wear with corrosion resistance.Keywords: corrosion, nanocomposite film, solid-state dewetting, tribology
Procedia PDF Downloads 13616995 Discrete Choice Modeling in Education: Evaluating Early Childhood Educators’ Practices
Authors: Michalis Linardakis, Vasilis Grammatikopoulos, Athanasios Gregoriadis, Kalliopi Trouli
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Discrete choice models belong to the family of Conjoint analysis that are applied on the preferences of the respondents towards a set of scenarios that describe alternative choices. The scenarios have been pre-designed to cover all the attributes of the alternatives that may affect the choices. In this study, we examine how preschool educators integrate physical activities into their everyday teaching practices through the use of discrete choice models. One of the advantages of discrete choice models compared to other more traditional data collection methods (e.g. questionnaires and interviews that use ratings) is that the respondent is called to select among competitive and realistic alternatives, rather than objectively rate each attribute that the alternatives may have. We present the effort to construct and choose representative attributes that would cover all possible choices of the respondents, and the scenarios that have arisen. For the purposes of the study, we used a sample of 50 preschool educators in Greece that responded to 4 scenarios (from the total of 16 scenarios that the orthogonal design resulted), with each scenario having three alternative teaching practices. Seven attributes of the alternatives were used in the scenarios. For the analysis of the data, we used multinomial logit model with random effects, multinomial probit model and generalized mixed logit model. The conclusions drawn from the estimated parameters of the models are discussed.Keywords: conjoint analysis, discrete choice models, educational data, multivariate statistical analysis
Procedia PDF Downloads 46516994 Globally Convergent Sequential Linear Programming for Multi-Material Topology Optimization Using Ordered Solid Isotropic Material with Penalization Interpolation
Authors: Darwin Castillo Huamaní, Francisco A. M. Gomes
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The aim of the multi-material topology optimization (MTO) is to obtain the optimal topology of structures composed by many materials, according to a given set of constraints and cost criteria. In this work, we seek the optimal distribution of materials in a domain, such that the flexibility of the structure is minimized, under certain boundary conditions and the intervention of external forces. In the case we have only one material, each point of the discretized domain is represented by two values from a function, where the value of the function is 1 if the element belongs to the structure or 0 if the element is empty. A common way to avoid the high computational cost of solving integer variable optimization problems is to adopt the Solid Isotropic Material with Penalization (SIMP) method. This method relies on the continuous interpolation function, power function, where the base variable represents a pseudo density at each point of domain. For proper exponent values, the SIMP method reduces intermediate densities, since values other than 0 or 1 usually does not have a physical meaning for the problem. Several extension of the SIMP method were proposed for the multi-material case. The one that we explore here is the ordered SIMP method, that has the advantage of not being based on the addition of variables to represent material selection, so the computational cost is independent of the number of materials considered. Although the number of variables is not increased by this algorithm, the optimization subproblems that are generated at each iteration cannot be solved by methods that rely on second derivatives, due to the cost of calculating the second derivatives. To overcome this, we apply a globally convergent version of the sequential linear programming method, which solves a linear approximation sequence of optimization problems.Keywords: globally convergence, multi-material design ordered simp, sequential linear programming, topology optimization
Procedia PDF Downloads 31516993 Syllogistic Reasoning with 108 Inference Rules While Case Quantities Change
Authors: Mikhail Zarechnev, Bora I. Kumova
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A syllogism is a deductive inference scheme used to derive a conclusion from a set of premises. In a categorical syllogisms, there are only two premises and every premise and conclusion is given in form of a quantified relationship between two objects. The different order of objects in premises give classification known as figures. We have shown that the ordered combinations of 3 generalized quantifiers with certain figure provide in total of 108 syllogistic moods which can be considered as different inference rules. The classical syllogistic system allows to model human thought and reasoning with syllogistic structures always attracted the attention of cognitive scientists. Since automated reasoning is considered as part of learning subsystem of AI agents, syllogistic system can be applied for this approach. Another application of syllogistic system is related to inference mechanisms on the Semantic Web applications. In this paper we proposed the mathematical model and algorithm for syllogistic reasoning. Also the model of iterative syllogistic reasoning in case of continuous flows of incoming data based on case–based reasoning and possible applications of proposed system were discussed.Keywords: categorical syllogism, case-based reasoning, cognitive architecture, inference on the semantic web, syllogistic reasoning
Procedia PDF Downloads 41116992 Effect of Micro Credit Access on Poverty Reduction among Small Scale Women Entrepreneurs in Ondo State, Nigeria
Authors: Adewale Oladapo, C. A. Afolami
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The study analyzed the effect of micro credit access on poverty reduction among small scale women entrepreneurs in Ondo state, Nigeria. Primary data were collected in a cross-sectional survey of 100 randomly selected woman entrepreneurs. These were drawn in multistage sampling process covering four local government areas (LGAS). Data collected include socio economics characteristics of respondents, access to micro credit, sources of micro credit, and constraints faced by the entrepreneur in sourcing for micro credit. Data were analyzed using descriptive statistics, Foster, Greer and Thorbecke (FGT) index of poverty measure, Gini coefficients and probit regression analysis. The study found that respondents sampled for the survey were within the age range of 31-40 years with mean age 38.6%. Mostly (56.0%) of the respondents were educated to the tune of primary school. Majority (87.0%) of the respondents were married with fairly large household size of (4-5). The poverty index analysis revealed that most (67%) of the sample respondents were poor. The result of the Probit regression analyzed showed that income was a significant variable in micro credit access, while the result of the Gini coefficient revealed a very high income inequality among the respondents. The study concluded that most of the respondents were poor and return on investment (income) was an important variable that increased the chance of respondents in sourcing for micro-credit loan and recommended that income realized by entrepreneur should be properly documented to facilitate loan accessibility.Keywords: entrepreneurs, income, micro-credit, poverty
Procedia PDF Downloads 13016991 Financial Fraud Prediction for Russian Non-Public Firms Using Relational Data
Authors: Natalia Feruleva
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The goal of this paper is to develop the fraud risk assessment model basing on both relational and financial data and test the impact of the relationships between Russian non-public companies on the likelihood of financial fraud commitment. Relationships mean various linkages between companies such as parent-subsidiary relationship and person-related relationships. These linkages may provide additional opportunities for committing fraud. Person-related relationships appear when firms share a director, or the director owns another firm. The number of companies belongs to CEO and managed by CEO, the number of subsidiaries was calculated to measure the relationships. Moreover, the dummy variable describing the existence of parent company was also included in model. Control variables such as financial leverage and return on assets were also implemented because they describe the motivating factors of fraud. To check the hypotheses about the influence of the chosen parameters on the likelihood of financial fraud, information about person-related relationships between companies, existence of parent company and subsidiaries, profitability and the level of debt was collected. The resulting sample consists of 160 Russian non-public firms. The sample includes 80 fraudsters and 80 non-fraudsters operating in 2006-2017. The dependent variable is dichotomous, and it takes the value 1 if the firm is engaged in financial crime, otherwise 0. Employing probit model, it was revealed that the number of companies which belong to CEO of the firm or managed by CEO has significant impact on the likelihood of financial fraud. The results obtained indicate that the more companies are affiliated with the CEO, the higher the likelihood that the company will be involved in financial crime. The forecast accuracy of the model is about is 80%. Thus, the model basing on both relational and financial data gives high level of forecast accuracy.Keywords: financial fraud, fraud prediction, non-public companies, regression analysis, relational data
Procedia PDF Downloads 12116990 Hydrothermally Fabricated 3-D Nanostructure Metal Oxide Sensors
Authors: Mohammad Alenezi
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Hierarchical nanostructures with higher dimensionality, consisting of nanostructure building blocks such as nanowires, nanotubes, or nanosheets are very attractive. They hold great properties like the high surface-to-volume ratio and well-ordered porous structures, which can be very challenging to attain for other mono-morphological nanostructures. Well-ordered hierarchical nanostructures with high surface-to-volume ratios facilitate gas diffusion into their surfaces as well as scattering of light. Therefore, hierarchical nanostructures are expected to perform highly as gas sensors. A multistage controlled hydrothermal synthesis method to fabricate high-performance single ZnO brushlike hierarchical nanostructure gas sensor from initial nanowires is reported. The performance of the sensor based on brush-like hierarchical nanostructure is analyzed and compared to that of a nanowire gas sensor. The hierarchical gas sensor demonstrated high sensitivity toward low concentration of acetone at high speed of response. The enhancement in the hierarchical sensor performance is attributed to the increased surface to volume ratio, reduction in dimensionality of the nanowire building blocks, formation of junctions between the initial nanowire and the secondary nanowires, and enhanced gas diffusion into the surfaces of the hierarchical nanostructures.Keywords: metal oxide, nanostructure, hydrothermal, sensor
Procedia PDF Downloads 27316989 The Role of Paper in the Copy Identification of Safavid Era Shahnamehs of Tabriz Doctrine
Authors: Ashrafosadat Mousavi Lar, Elahe Moravej
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To investigate and explain the history of each copy, we must refer to its past because it highlights parts of the civilization of people among which this copy has been codified. In this paper, eight Ferdowsi’s Shahnameh of Safavid era of Tabriz doctrine available in Iranian libraries and museums are studied. Undoubtedly, it can be said that Ferdowsi’s Shahnameh is one of the most important books that has been transcribed many times in different eras because it explains the Iranian champions’ prowess and it includes the history of Iran from Pishdadian to Sasanian dynasty. In addition, it has been attractive for governors and artists. The research methodology of this article is based on the analytical-descriptive arguments. The research hypothesis is based on papers used in Shahnameh writing in Safavid era of Tabriz doctrine were mostly Isfahanian papers existed. At that time, Isfahanian paper was unique in terms of quality, clarity, flatness of the sheets, volume, shape, softness and elegance, strength, and smoothness. This paper was mostly used to prepare the courtier and exquisite copies. This shows that the prepared copies in Safavid era of Tabriz doctrine were very important because the artists and people who ordered and were out of the court have ordered Isfahanian paper for writing their books.Keywords: paper, Shahnameh, Safavid era, Tabriz doctrine
Procedia PDF Downloads 29016988 Merging and Comparing Ontologies Generically
Authors: Xiuzhan Guo, Arthur Berrill, Ajinkya Kulkarni, Kostya Belezko, Min Luo
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Ontology operations, e.g., aligning and merging, were studied and implemented extensively in different settings, such as categorical operations, relation algebras, and typed graph grammars, with different concerns. However, aligning and merging operations in the settings share some generic properties, e.g., idempotence, commutativity, associativity, and representativity, labeled by (I), (C), (A), and (R), respectively, which are defined on an ontology merging system (D~M), where D is a non-empty set of the ontologies concerned, ~ is a binary relation on D modeling ontology aligning and M is a partial binary operation on D modeling ontology merging. Given an ontology repository, a finite set O ⊆ D, its merging closure Ô is the smallest set of ontologies, which contains the repository and is closed with respect to merging. If (I), (C), (A), and (R) are satisfied, then both D and Ô are partially ordered naturally by merging, Ô is finite and can be computed, compared, and sorted efficiently, including sorting, selecting, and querying some specific elements, e.g., maximal ontologies and minimal ontologies. We also show that the ontology merging system, given by ontology V -alignment pairs and pushouts, satisfies the properties: (I), (C), (A), and (R) so that the merging system is partially ordered and the merging closure of a given repository with respect to pushouts can be computed efficiently.Keywords: ontology aligning, ontology merging, merging system, poset, merging closure, ontology V-alignment pair, ontology homomorphism, ontology V-alignment pair homomorphism, pushout
Procedia PDF Downloads 89316987 The Role of Institutional Quality and Institutional Quality Distance on Trade: The Case of Agricultural Trade within the Southern African Development Community Region
Authors: Kgolagano Mpejane
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The study applies a New Institutional Economics (NIE) analytical framework to trade in developing economies by assessing the impacts of institutional quality and institutional quality distance on agricultural trade using a panel data of 15 Southern African Development Community (SADC) countries from the years 1991-2010. The issue of institutions on agricultural trade has not been accorded the necessary attention in the literature, particularly in developing economies. Therefore, the paper empirically tests the gravity model of international trade by measuring the impact of political, economic and legal institutions on intra SADC agricultural trade. The gravity model is noted for its exploratory power and strong theoretical foundation. However, the model has statistical shortcomings in dealing with zero trade values and heteroscedasticity residuals leading to biased results. Therefore, this study employs a two stage Heckman selection model with a Probit equation to estimate the influence of institutions on agricultural trade. The selection stages include the inverse Mills ratio to account for the variable bias of the gravity model. The Heckman model accounts for zero trade values and is robust in the presence of heteroscedasticity. The empirical results of the study support the NIE theory premise that institutions matter in trade. The results demonstrate that institutions determine bilateral agricultural trade on different margins with political institutions having positive and significant influence on bilateral agricultural trade flows within the SADC region. Legal and economic institutions have significant and negative effects on SADC trade. Furthermore, the results of this study confirm that institutional quality distance influences agricultural trade. Legal and political institutional distance have a positive and significant influence on bilateral agricultural trade while the influence of economic, institutional quality is negative and insignificant. The results imply that nontrade barriers, in the form of institutional quality and institutional quality distance, are significant factors limiting intra SADC agricultural trade. Therefore, gains from intra SADC agricultural trade can be attained through the improvement of institutions within the region.Keywords: agricultural trade, institutions, gravity model, SADC
Procedia PDF Downloads 14916986 Performance Analysis of a Combined Ordered Successive and Interference Cancellation Using Zero-Forcing Detection over Rayleigh Fading Channels in Mimo Systems
Authors: Jamal R. Elbergali
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Multiple Input Multiple Output (MIMO) systems are wireless systems with multiple antenna elements at both ends of the link. Wireless communication systems demand high data rate and spectral efficiency with increased reliability. MIMO systems have been popular techniques to achieve these goals because increased data rate is possible through spatial multiplexing scheme and diversity. Spatial Multiplexing (SM) is used to achieve higher possible throughput than diversity. In this paper, we propose a Zero-Forcing (ZF) detection using a combination of Ordered Successive Interference Cancellation (OSIC) and Zero Forcing using Interference Cancellation (ZF-IC). The proposed method used an OSIC based on Signal to Noise Ratio (SNR) ordering to get the estimation of last symbol (x ̃_(N_T )), then the estimated last symbol is considered to be an input to the ZF-IC. We analyze the Bit Error Rate (BER) performance of the proposed MIMO system over Rayleigh Fading Channel, using Binary Phase Shift Keying (BPSK) modulation scheme. The results show better performance than the previous methods.Keywords: SNR, BER, BPSK, MIMO, modulation, zero forcing (ZF), OSIC, ZF-IC, spatial multiplexing (SM)
Procedia PDF Downloads 423