Search results for: asset allocation

Authors: Abegunde Linda, Adedeji Oluwatayo, Tope-Ajayi Opeyemi

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Maize constitutes a major agrarian production for use by the vast population but despite its economic importance, it has not been produced to meet the economic needs of the country. Achieving optimum yield in maize can meaningfully be supported by land suitability analysis in order to guarantee self-sufficiency for future production optimization. This study examines land suitability for maize production through the analysis of the physic-chemical variations in soil properties over space using a Geographic Information System (GIS) framework. Physic-chemical parameters of importance selected include slope, landuse, and physical and chemical properties of the soil. Landsat imagery was used to categorize the landuse, Shuttle Radar Topographic Mapping (SRTM) generated the slope and soil samples were analyzed for its physical and chemical components. Suitability was categorized into highly, moderately and marginally suitable based on Food and Agricultural Organisation (FAO) classification using the Analytical Hierarchy Process (AHP) technique of GIS. This result can be used by small scale farmers for efficient decision making in the allocation of land for maize production.

Keywords: AHP, GIS, MCE, suitability, Zea mays

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Authors: Manita Ale, Ganesh P. Shivakoti, Ram C. Bastakoti

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Irrigation system, a system for enhancing agricultural productivity, requires regular maintenance in order to avoid irregular allocation of water. For maintenance of the system in long run, farmers’ participation plays a key role increasing the performance of system. The performance of any irrigation system mainly relies on various factors which affect collective action plus decision making, as well as their shared impacts. The paper consists of system level information that were collected from 12 Irrigation Systems (IS) from three-sampled districts of Nepal and the household information that were collected from 160 irrigation water users. The results reveal that, out of 12 sampled irrigation systems, only 4 systems shows high performance levels. The high performance level of those systems was characterized on the basis of adequate availability of water, good maintenance of system infrastructure, and conformance to existing rules followed. In addition, the paper compares different irrigation systems based on trust, reciprocity, cropping intensity, command area and yield as tools to indicate the importance of collective action in performance of irrigation system.

Keywords: collective action, decision-making, farmers’ participation, performance

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Authors: Clarinda V. Nhangumbe, Ercília Sousa

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Weather Derivatives are financial instruments used to cover non-catastrophic weather events and can be expressed in the form of standard or plain vanilla products, structured or exotics products. The underlying asset, in this case, is the weather index, such as temperature, rainfall, humidity, wind, and snowfall. The complexity of the Weather Derivatives structure shows the weakness of the Black Scholes framework. Therefore, under the risk-neutral probability measure, the option price of a weather contract can be given as a unique solution of a two-dimensional partial differential equation (parabolic in one direction and hyperbolic in other directions), with an initial condition and subjected to adequate boundary conditions. To calculate the price of the option, one can use numerical methods such as the Monte Carlo simulations and implicit finite difference schemes conjugated with Semi-Lagrangian methods. This paper is proposed two explicit methods, namely, first-order upwind in the hyperbolic direction combined with Lax-Wendroff in the parabolic direction and first-order upwind in the hyperbolic direction combined with second-order upwind in the parabolic direction. One of the advantages of these methods is the fact that they take into consideration the boundary conditions obtained from the financial interpretation and deal efficiently with the different choices of the convection coefficients.

Keywords: incomplete markets, numerical methods, partial differential equations, stochastic process, weather derivatives

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Authors: T. W. Kekana, J. J. Baloyi, M. C. Muya, F. V. Nherera

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Secondary metabolites (thiosulphinates) from Allium sativum are able to stimulate the production of volatile fatty acids. This study was carried out to investigate the effects of feeding Garlic powder or probiotics or a combination of both on feed intake and growth performance of Holstein calves. Neonatal calves were randomly allocated, according to birth weight, to four dietary treatments, each with 8 calves. The treatments were: C control, no additive (C), G: supplemented with either 5g/d garlic powder (G) or 4 g/d probiotics (P) or GP 5g/d garlic powder and 4 g/d probiotics compound (GP) with the total viable count of 1.3 x 107 cfu/g. Garlic and probiotics were diluted in the daily milk allocation from day 4. Commercial (17.5% CP) starter feed and fresh water were available ad libitum from day 4 until day 42 of age. Calves fed GP (0.27 kg day-1) tended (P=0.055) to have higher DMI than C (0.22 kg day-1). Milk, water, CP, fat intake and FCR were not affected (P>0.05) by the treatments. Metibolisable energy (ME) intake for GP group tended (P=0.058) to be higher than C calves. Combination of G and P (60.3 kg) tended (P = 0.056) to be higher than C (56.0 kg) calves on final BW. Garlic, probiotics or their combination did not affect calve’s HG, ADG and BL (P>0.05). The results of the current study indicated that combination of garlic and probiotics may improve nutrients intake and body weight when fed to calves during the first 42 days of life.

Keywords: garlic powder, probiotics, intake, growth, Holstein calves

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Authors: Danika Tynes

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Innovations in technology have implications for sustainable development in health and wellness. Remote monitoring is one innovation for which the evidence-base has grown to support its viability as a quality healthcare delivery adjunct. This research reviews global data on telehealth adoption, in particular, remote monitoring, and the conditions under which its success becomes more likely. System-level indicators were selected to represent four constructs of DoI theory (relative advantage, compatibility, complexity, and observability) and assessed against 5 types of Telehealth (Teleradiology, Teledermatology, Telepathology, Telepsychology, and Remote Monitoring) using ordinal logistic regression. Analyses include data from 84 countries, as extracted from the World Health Organization, World Bank, ICT (Information Communications Technology) Index, and HDI (Human Development Index) datasets. Analyses supported relative advantage and compatibility as the strongest influencers of remote monitoring adoption. Findings from this research may help focus on the allocation of resources, as a sustainability concern, through consideration of systems-level factors that may influence the success of remote monitoring adoption.

Keywords: remote monitoring, diffusion of innovation, telehealth, digital health

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Authors: Alireza Vafaei Sadr, Vida Abedi, Jiang Li, Ramin Zand

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Missing data is a common challenge in medical research and can lead to biased or incomplete results. When the data bias leaks into models, it further exacerbates health disparities; biased algorithms can lead to misclassification and reduced resource allocation and monitoring as part of prevention strategies for certain minorities and vulnerable segments of patient populations, which in turn further reduce data footprint from the same population – thus, a vicious cycle. This study compares the performance of six imputation techniques grouped into Linear and Non-Linear models on two different realworld electronic health records (EHRs) datasets, representing 17864 patient records. The mean absolute percentage error (MAPE) and root mean squared error (RMSE) are used as performance metrics, and the results show that the Linear models outperformed the Non-Linear models in terms of both metrics. These results suggest that sometimes Linear models might be an optimal choice for imputation in laboratory variables in terms of imputation efficiency and uncertainty of predicted values.

Keywords: EHR, machine learning, imputation, laboratory variables, algorithmic bias

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Authors: N. H. Adenan, M. S. M. Noorani

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River flow prediction is an essential to ensure proper management of water resources can be optimally distribute water to consumers. This study presents an analysis and prediction by using nonlinear prediction method involving monthly river flow data in Tanjung Tualang from 1976 to 2006. Nonlinear prediction method involves the reconstruction of phase space and local linear approximation approach. The phase space reconstruction involves the reconstruction of one-dimensional (the observed 287 months of data) in a multidimensional phase space to reveal the dynamics of the system. Revenue of phase space reconstruction is used to predict the next 72 months. A comparison of prediction performance based on correlation coefficient (CC) and root mean square error (RMSE) have been employed to compare prediction performance for nonlinear prediction method, ARIMA and SVM. Prediction performance comparisons show the prediction results using nonlinear prediction method is better than ARIMA and SVM. Therefore, the result of this study could be used to developed an efficient water management system to optimize the allocation water resources.

Keywords: river flow, nonlinear prediction method, phase space, local linear approximation

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Authors: Rashmi Malik, Videep Mishra

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The practice of generative design has become a transformative approach for an efficient way of generating multiple iterations for any design project. The conventional way of modeling the game elements is very time-consuming and requires skilled artists to design. A 3D modeling tool like 3D S Max, Blender, etc., is used traditionally to create the game library, which will take its stipulated time to model. The study is focused on using the generative design tool to increase the efficiency in game development at the stage of prop and environment generation. This will involve procedural level and customized regulated or randomized assets generation. The paper will present the system design approach using generative tools like Grasshopper (visual scripting) and other scripting tools to automate the process of game library modeling. The script will enable the generation of multiple products from the single script, thus creating a system that lets designers /artists customize props and environments. The main goal is to measure the efficacy of the automated system generated to create a wide variety of game elements, further reducing the need for manual content creation and integrating it into the workflow of AAA and Indie Games.

Keywords: iterative game design, generative design, gaming asset automation, generative game design

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Authors: Temitayo Olaitan

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There is a growing concern about the quality of Nigerian tertiary education. This paper maintains that quality in tertiary education relates to the development of intellectual independence, which sharpens the minds of the individual and helps transform the society economically, socially and politically. However, the paper underscores underfunding as a critical challenge to the quality of teaching and learning in tertiary education. To this end, this paper emphasizes the role of internally generated revenue (IGR) and other alternative funding strategies (public-private partnership) as inevitable for quality tertiary education. This paper hinges on stakeholders approach as a means of ensuring quality teaching and learning in tertiary education. This paper recommends that school managers should seek professional and more efficient ways of developing their revenue generating systems. It also recommends that institutions should restructure to accommodate an alternative funding strategy such as private/corporate sponsorship to ensure that sustainable initiatives are created. The paper concludes that Nigerian government should come up with a policy on how private sectors should support in improving the quality of tertiary education through active participation in funding and physical facilities development in Nigerian higher institutions of learning.

Keywords: alternative funding, budgetary allocation, quality education, tertiary education

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Authors: Zelalem Zerihun

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In this study, attempts were made to assess the bank-specific, industry-specific, and macro-economic factors affecting bank profitability. Data were collected from ten commercial banks in Ethiopia, covering the period of 2008-2012. A mixed method research approach was adopted for this research. Documentary analysis and in-depth interview were also used to substantiate the data. The study found out that capital strength, income diversification, bank size and gross domestic product are statistically significant and they have a positive relationship with banks’ profitability. However, operational efficiency and asset quality have a negative relationship with banks’ profitability. The relationship for liquidity risk, concentration and inflation were found to be statistically insignificant. The study revealed that focusing and reengineering the banks in light of the key internal drivers could enhance the profitability as well as the performance of the commercial banks in Ethiopia. In addition to this, the study suggests that banks in Ethiopia should not only be concerned about internal structures but also they must consider both the internal environment and the macro-economic environment in designing strategies to improve their profit or their performance.

Keywords: Ethiopian banking industry, macro-economic factors, documentary analysis, capital strength, income diversification

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Authors: Fisayo G. Ojo, Shamala K. Subramaniam, Zuriati Ahmad Zukarnain

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As technology is advancing and wireless applications are becoming dependable sources, while the physical layer of the applications are been embedded into tiny layer, so the more the problem on energy efficiency and consumption. This paper reviews works done in recent years in wireless applications and distributed computing, we discovered that applications are becoming dependable, and resource allocation sharing with other applications in distributed computing. Applications embedded in distributed system are suffering from power stability and efficiency. In the reviews, we also prove that discrete event simulation has been left behind untouched and not been adapted into distributed system as a simulation technique in scheduling of each event that took place in the development of distributed computing applications. We shed more lights on some researcher proposed techniques and results in our reviews to prove the unsatisfactory results, and to show that more work still have to be done on issues of energy efficiency in wireless applications, and congestion in distributed computing.

Keywords: discrete event simulation (DES), distributed computing, energy efficiency (EE), internet of things (IOT), quality of service (QOS), user equipment (UE), wireless mesh network (WMN), wireless sensor network (wsn), worldwide interoperability for microwave access x (WiMAX)

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Authors: Naheed Malik, Waheed Akhtar

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An introduction to the Islamic move towards the managing human resource is a preliminary attempt to provide managers with a useful way of managing and accepting employees. This knowledge would be helpful to even non-Muslim managers. Muslim managers are required not to know only the Islamic HR but also it is expected from them to apply the Islamic approach in managing the employees. Human resource is considered the most substantial asset of organizations. Studies have recommended that successful human resource management (HRM) leads to positive attitudes and behaviors at the workplace. On the contrary, unproductive use of human resources results in negative penalty in the form of lower job satisfaction, lower commitment, or even high employee turnover and even poor workforce quality.The study examined the Impact of Islamic HR practices on job satisfaction. Islamic HR variables encompass the aspects of performance appraisal, training and development, selection and recruitment. Data was obtained via self –administered questionnaires distributed among the employees of Banks in Pakistan which are practicing Islamic Banking. The sampling method employed was purposive sampling.Based on 240 responses obtained ,the study revealed that Islamic HRM deliberates the 40per cent of the variances in Job satisfaction .All variables excluding recruitment were found to be substantially pertinent to the dependent variable. The study also meditated the implications for future studies.

Keywords: islamic HRM, job satisfaction, islamic and conventional banks, Pakistan

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Authors: Itulelo Matiyabu Imaja, Patrick Ndayizigamiye, Manoj Maharaj

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There are many catalysts of corruption. These include amongst others, lack of effective control measures to deter or detect corrupt behaviour. Literature suggests that ICT could assist in curbing corruption through the implementation of automated systems, citizens engagement through e-government and online media to name a few. In the Democratic Republic of Congo, lack of transparency and accountability in public funds collection and allocation contribute to corruption in funds mismanagement. Using the accountability theory and available literature, this paper analyses how Democratic Republic of Congo (DRC) institutions could be strengthened through ICT in order to deter instances of corruption. Findings reveal that DRC lacks reliable control, monitoring and evaluation mechanisms that could identify potentially corrupt behavior. In addition, citizens and civil society organizations who are meant to hold the institutions accountable are not given secure platform to express their views and potentially flag any corrupt behavior. Hence, the paper presents a preliminary conceptual framework that depicts how ICT could be used to strengthen current institutions to potentially deter corrupt behavior in public funds management in Congo.

Keywords: corruption, ICT adoption, transparency, DR Congo

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Authors: Agata Twardoch

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The processes of commodification of real estate and changes in housing markets have led to a situation where the prices of free market housing in European capitals are significantly higher than the purchasing value of average wages. This phenomenon has many negative social and spatial consequences. At the same time, the attractiveness of real estate as an asset makes these processes progress. Out of concern for sustainable social development, city authorities apply solutions to balance the burdensome effects of codification of housing. One of them is a social provision for housing investments. The article presents a comparative study of solutions applied in selected European capitals, on the example of Warsaw, Paris, London, Berlin, Copenhagen, and Vienna. The study was conducted along with works on expert report for the master plan for Warsaw. The forms of commissions applied in Local Planning Acts were compared, with particular reference to spatial solutions. The results of the analysis made it possible to determine common features of the solutions applied and to establish recommendations for further practice. Major findings of the study indicate that requirement of social provision is achievable in spatial planning documents. Study shows that application of social provision in private housing investments is a useful tool in housing policy against commodification.

Keywords: affordable housing, housing provision, spatial planning, sustainable social development

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Authors: Khalid Kaddoura, Ahmed Assad, Tarek Zayed

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Sewer pipelines are prone to deterioration over-time. In fact, their deterioration does not follow a fixed downward pattern. This is in fact due to the defects that propagate through their service life. Sewer pipeline defects are categorized into distinct groups. However, the main two groups are the structural and operational defects. By definition, the structural defects influence the structural integrity of the sewer pipelines such as deformation, cracks, fractures, holes, etc. However, the operational defects are the ones that affect the flow of the sewer medium in the pipelines such as: roots, debris, attached deposits, infiltration, etc. Yet, the process for each defect to emerge follows a cause and effect relationship. Deformation, which is the change of the sewer pipeline geometry, is one type of an influencing defect that could be found in many sewer pipelines due to many surrounding factors. This defect could lead to collapse if the percentage exceeds 15%. Therefore, it is essential to predict the deformation percentage before confronting such a situation. Accordingly, this study will predict the percentage of the deformation defect in sewer pipelines adopting the multiple regression analysis. Several factors will be considered in establishing the model, which are expected to influence the defamation defect severity. Besides, this study will construct a time-based curve to understand how the defect would evolve overtime. Thus, this study is expected to be an asset for decision-makers as it will provide informative conclusions about the deformation defect severity. As a result, inspections will be minimized and so the budgets.

Keywords: deformation, prediction, regression analysis, sewer pipelines

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Authors: A. Hoppe, T. Kagele, B. Hall, A. Nichols, B. Messner

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The Spokane Street Medicine (SSM) Program aims to deliver medical care to members of Spokane, Washington, experiencing homelessness. Street medicine is designed to function in a non-traditional setting to help deliver healthcare to the underserved homeless population. In this analysis, clinical charts from street and shelter encounters made by the Spokane Street Medicine Program in early 2021 were reviewed in order to better understand the healthcare inequities prevalent among people experiencing homelessness in Spokane, WA. Pain, wound-care, and follow-up efforts were predominant concerns among the homeless population. More than half of the conditions addressed were acute, and almost a quarter of all chief complaints involved chronic unmanaged conditions. This analysis gives reason for the priorities of the SSM Program to be focused on pain, wound-care, and follow-up efforts. Understanding the specific medical needs of this population will allow for better resource allocation and improved health outcomes among people experiencing homelessness.

Keywords: equity issues in public health, health disparities, health services accessibility, medical public health, street medicine

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Authors: Abu Umar Faruq Ahmad, Muhammad Ayub

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Tabarru` (unilateral gratuitous contribution) is thought to be the basic concept that distinguishes Takaful from conventional non-Sharīʿah compliant insurance. The Sharīʿah compliance of its current practice has been questioned in the premise that, a) it is a form of commutative contract; b) it is akin to the commercial corporate structure of insurance companies due to following the same marketing strategies, allocation to reserves, sharing of underwriting surplus by the companies one way or the other, providing loans to the Takaful funds, and resultantly absorbing the underwriting losses. The Sharīʿah scholars are of the view that the relationship between participants in Takaful should be in the form of commitment to donate, under which a contributor makes commitments himself to donate a sum of money for mutual help and cooperation on the condition that the balance, if any, should be returned to him. With the aim of finding solutions to the above mentioned concerns and other Sharīʿah related issues the study seeks to investigate whether the Takaful companies are functioning in accordance with the Islamic principles of brotherhood, solidarity, and cooperative risk sharing. Given that it discusses the cooperative model of Takaful to address the current and future Sharīʿah related and legal concerns. The study proposed an alternative model and considers it to best serve the objectives of Takaful which operates on the basis of ta`awun or mutual co-operation.

Keywords: hibah, musharakah ta`awuniyyah, Tabarru`, Takaful

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Authors: Naznin Sultana Daisy, Mohammad Hesam Hafezi, Lei Liu

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Nowadays, oily solid waste management has become an important issue for many countries due to frequent oil spill accidents and the increase of industrial oily wastewater. The historical oil spill data show that marine oil spills that affect the shoreline can, in extreme cases, produce up to 30 or 40 times more waste than the volume of oil initially released. Hence, responsive authorities aim to develop the most effective oily waste management solution in a timely manner to manage and minimize the waste generated. In this study initially, we tried to develop the roadmap of oily waste management for three-tiered spill scenarios for Atlantic Canada. For that purpose, three oily waste disposal scenarios are evaluated via six criteria which are determined according to the opinions of the experts from the field. Consequently, through sustainable response strategies, the most appropriate and feasible scenario is determined. The results of this study will assist to develop an integrated oily waste management system for identifying the optimal waste-generation-allocation-disposal schemes and generating the optimal management alternatives based on the holistic consideration of environmental, technological, economic, social, and regulatory factors.

Keywords: oily waste management, marine oil spill, multi-criteria decision making, oil spill response

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Authors: Ekta Jain, Kalpana Dahiya, Vanita Verma

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This paper discusses a priority based imbalanced time minimization assignment problem dealing with the allocation of n jobs to m < n persons in which the project is carried out in two stages, viz. Stage-I and Stage-II. Stage-I consists of n1 ( < m) primary jobs and Stage-II consists of remaining (n-n1) secondary jobs which are commenced only after primary jobs are finished. Each job is to be allocated to exactly one person, and each person has to do at least one job. It is assumed that nature of the Stage-I jobs is such that one person can do exactly one primary job whereas a person can do more than one secondary job in Stage-II. In a particular stage, all persons start doing the jobs simultaneously, but if a person is doing more than one job, he does them one after the other in any order. The aim of the proposed study is to find the feasible assignment which minimizes the total time for the two stage execution of the project. For this, an iterative algorithm is proposed, which at each iteration, solves a constrained imbalanced time minimization assignment problem to generate a pair of Stage-I and Stage-II times. For solving this constrained problem, an algorithm is developed in the current paper. Later, alternate combinations based method to solve the priority based imbalanced problem is also discussed and a comparative study is carried out. Numerical illustrations are provided in support of the theory.

Keywords: assignment, imbalanced, priority, time minimization

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Authors: Mrinmoy Dhara, Vivek K. Sengar, Shovan L. Chattoraj, Soumiya Bhattacharjee

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Remote sensing techniques have emerged as an asset for various geological studies. Satellite images obtained by different sensors contain plenty of information related to the terrain. Digital image processing further helps in customized ways for the prospecting of minerals. In this study, an attempt has been made to map the hydrothermally altered zones using multispectral and hyperspectral datasets of South East Rajasthan. Advanced Space-borne Thermal Emission and Reflection Radiometer (ASTER) and Hyperion (Level1R) dataset have been processed to generate different Band Ratio Composites (BRCs). For this study, ASTER derived BRCs were generated to delineate the alteration zones, gossans, abundant clays and host rocks. ASTER and Hyperion images were further processed to extract mineral end members and classified mineral maps have been produced using Spectral Angle Mapper (SAM) method. Results were validated with the geological map of the area which shows positive agreement with the image processing outputs. Thus, this study concludes that the band ratios and image processing in combination play significant role in demarcation of alteration zones which may provide pathfinders for mineral prospecting studies.

Keywords: ASTER, hyperion, band ratios, alteration zones, SAM

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Authors: Godwin Chigozie Okpara

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This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in decision process and –many times- the investment and business risks are high. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analyzed. Adopting the on system of system methodological approach, the decision making framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey and Bulgaria.

Keywords: decision making, system of system, cross-border, infrastructure project

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Authors: M. Vieira, V. Infante, P. Serrão, A. Ribeiro

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The Portuguese guitar is a pear-shaped plucked chordophone particularly known for its role in Fado, the most distinctive traditional Portuguese musical style. The acknowledgment of the dynamic behavior of the Portuguese guitar, specifically of its modal and mode shape response, has been the focus of different authors. In this research, the experimental results of the dynamic behavior of the guitar, which were previously obtained, are correlated with a vibro-acoustic finite element model of the guitar. The modelling of the guitar offered several challenges which are presented in this work. The results of the correlation between experimental and numerical data are presented and indicate good correspondence for the studied mode shapes. The influence of the air inside the chamber, for the finite element analysis, is shown to be crucial to understand the low-frequency modes of the Portuguese guitar, while, for higher frequency modes, the geometry of the guitar assumes greater relevance. Comparison is made with the classical guitar, providing relevant information about the intrinsic differences between the two, such as between its tones and other acoustical properties. These results represent a sustained base for future work, which will allow the study of the influence of different location and geometry of diverse components of the Portuguese guitar, being as well an asset to the comprehension of its musical properties and qualities and may, furthermore, represent an advantage for its players and luthiers.

Keywords: dynamic behavior of guitars, instrument acoustics, modal analysis, Portuguese guitar

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Elahe Memari, Ahmad Aslizadeh, Ahmad Memari

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Today strategic planning is counted as the most important duties of senior directors in each organization. Strategic planning allows the organizations to implement compiled strategies and reach higher competitive benefits than their competitors. The present research work tries to prepare and rank the strategies form effective factors on strategic planning in fulfillment of the State Road Management and Transportation Organization in order to indicate the role of organizational factors in efficiency of the process to organization managers. Connection between six main factors in fulfillment of State Road Management and Transportation Organization were studied here, including Improvement of Strategic Thinking in senior managers, improvement of the organization business process, rationalization of resources allocation in different parts of the organization, coordination and conformity of strategic plan with organization needs, adjustment of organization activities with environmental changes, reinforcement of organizational culture. All said factors approved by implemented tests and then ranked using fuzzy multivariate decision-making technique.

Keywords: Fuzzy TOPSIS, improvement of organization business process, multivariate decision-making, strategic planning

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Authors: Hamed Najafi, Ghasem Nikjou

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Nowadays, there is an increasing attention to the resources scarcity issues. Because of failure in present patterns in the field of the allocation of exhaustible resources between generations and the challenges related to economic justice supply, it is supposed, to present a pattern from the Islamic perspective in this essay. By using content analysis of religious texts, we conclude that governments should remove the gap which is exists between the per capita income of the poor and their minimum consumption (necessary consumption). In order to preserve the exhaustible resources for poor people) not for all), between all generations, government should invest exhaustible resources on endless resources according to Hartwick’s criteria and should spend these benefits for poor people. But, if benefits did not cover the gap between minimum consumption and per capita income of poor levels in one generation, in this case, the government is responsible for covering this gap through the direct consumption of exhaustible resources. For an exact answer to this question, ‘how much of exhaustible resources should expense to maintain justice between generations?’ The theoretical and mathematical modeling has been used and proper function has been provided. The consumption pattern is presented for economic policy makers in Muslim countries, and non-Muslim even, it can be useful.

Keywords: exhaustible resources, Islamic justice, intergenerational justice, distribution of resources, Hartwick criteria

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Authors: Yuyang Cheng, Marcos Escobar-Anel

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This paper introduces a multivariate 4/2 stochastic covariance process generalizing the one-dimensional counterparts presented in Grasselli (2017). Our construction permits stochastic correlation not only among stocks but also among volatilities, also known as co-volatility movements, both driven by more convenient 4/2 stochastic structures. The parametrization is flexible enough to separate these types of correlation, permitting their individual study. Conditions for proper changes of measure and closed-form characteristic functions under risk-neutral and historical measures are provided, allowing for applications of the model to risk management and derivative pricing. We apply the model to an expected utility theory problem in incomplete markets. Our analysis leads to closed-form solutions for the optimal allocation and value function. Conditions are provided for well-defined solutions together with a verification theorem. Our numerical analysis highlights and separates the impact of key statistics on equity portfolio decisions, in particular, volatility, correlation, and co-volatility movements, with the latter being the least important in an incomplete market.

Keywords: stochastic covariance process, 4/2 stochastic volatility model, stochastic co-volatility movements, characteristic function, expected utility theory, verication theorem

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Authors: Frederick N. F. Chou, Nguyen Thi Thuy Linh

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The impact of water shortages has been increasingly severe as a consequence of population growth, urbanization, economic development, and climate change. The need for improvements in reliable water supply systems is urgent with the increasing living standards of regions. In this study, a suitable shortage index capable of multi-aspect description - frequency, magnitude, and duration - is adopted to more accurately describe the characteristics of a shortage situation. The values of the index were determined to cope with the increasing need for reliability. There are four reservoirs in series located on the Be River of the Dong Nai River Basin in Southern Vietnam. The primary purpose of the three upstream reservoirs is hydropower generation while the primary purpose of the fourth is water supply. A compromise between hydropower generation and water supply can be negotiated for these four reservoirs to reduce the severity of water shortages. A generalized water allocation model was applied to simulate the water supply, and hydropower generation of various management alternatives and the system’s reliability was evaluated using the adopted multiple shortage indices. Modifying management policies of water resources using data-based indexes can improve the reliability of water supply.

Keywords: cascade reservoirs, hydropower, shortage index, water supply

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Authors: Carmen Avilés Palacios, Camilo Muñoz Arenas, Joaquín García Alfonso, Jesús González Arteaga, Alberto Alcalde Calonge

Abstract:

There is a need for review of the consumption and production models of industrialized states in accordance with the Paris Agreement and the Sustainable Development Goals (1) (OECD, 2016). This constitutes the basis of the bioeconomy (2) that is focused on striking a balance between economic development, social development and environmental protection. Bioeconomy promotes the adequate use and consumption of renewable natural resources (3) and involves developing new products and services adapted to the principles of circular economy: more sustainable (reusable, biodegradable, renewable and recyclable) and with a lower carbon footprint (4). In this context, Urban Forest Innovation Lab (UFIL) grows, an Urban Laboratory for experimentation focused on promoting entrepreneurship in forest bioeconomy (www.uiacuenca.es). UFIL generates local wellness taking sustainable advantage of an endogenous asset, forests. UFIL boosts forest bioeconomy opening its doors of knowledge to pioneers in this field, giving the opportunity to be an active part of a change in the way of understanding the exploitation of natural resources, discovering business, learning strategies and techniques and incubating business ideas So far now, 100 entrepreneurs are incubating their nearly 30 new business plans. UFIL has promoted an ecosystem to connect the rural-urban world that promotes sustainable rural development around the forest.

Keywords: bioeconomy, forestry, innovation, entrepreneurship

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Authors: Hebberly Ahatlan

Abstract:

The process of digitizing energy systems involves transforming traditional energy infrastructure into interconnected, data-driven systems that enhance efficiency, sustainability, and responsiveness. As smart grids become increasingly integral to the efficient distribution and management of electricity from both fossil and renewable energy sources, the energy industry faces strategic challenges associated with digitalization and interoperability — particularly in the context of modern energy business models, such as virtual power plants (VPPs). The critical challenge in modern smart grids is to seamlessly integrate diverse technologies and systems, including virtualization, grid computing and service-oriented architecture (SOA), across the entire energy ecosystem. Achieving this requires addressing issues like semantic interoperability, IT/OT convergence, and digital asset scalability, all while ensuring security and risk management. This paper proposes a four-layer digitalization framework to tackle these challenges, encompassing persistent data protection, trusted key management, secure messaging, and authentication of IoT resources. Data assets generated through this framework enable AI systems to derive insights for improving smart grid operations, security, and revenue generation. Furthermore, this paper also proposes a Trusted Energy Interoperability Alliance as a universal guiding standard in the development of this digitalization framework to support more dynamic and interoperable energy markets.

Keywords: digitalization, IT/OT convergence, semantic interoperability, VPP, energy blockchain

Procedia PDF Downloads 146