Search results for: Financial Stability

Authors: Heny Pratiwi, Niken Silmi Surjandari, Noegroho Djarwanti

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This study was conducted to determine the potential for landslides as a result of monthly rainfall in a watershed. Rainfall data that will be used is rainfall from years 2007-2011. Research methods created by modeling the slope on some variation of angle in a row 30◦, 45◦, and 60◦ with a homogeneous layer of soil. Slope Stability Analysis using Method Fellenius. The results of the slope stability analysis without rain on slope 30◦, 45◦, and 60◦ respectively 1.3846, 1.0115, and 0.7284. Results in the absence of rain showed that the slope on the slope 45◦ are in critical condition and on a slope with a slope 60◦ already avalanche with safety factor value <1. The results in the rainy conditions shows slopes 30◦ are in critical condition with a value factor <1 due to the intensity of monthly rainfall> 250 mm/month.

Keywords: slope stability, monthly rainfall, infiltration, safety factor, Fellenius method

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Authors: Brian J. Graham, Ronald T. Raines

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The presence of a nearly vacant p orbital on boron endows boronic acids with unique abilities as a catalyst and ligand. An organocatalytic process has been developed for the conversion of biomass-derived sugars to 5-hydroxymethylfurfural, which is a platform chemical. Specifically, 2-carboxyphenylboronic acid (2-CPBA) has been shown to be an optimal catalyst for this process, promoting the desired transformation in the absence of metals. The attributes of 2-CPBA as a catalyst led to additional investigations of its structure and reactivity. 2-CPBA was found to exist as a cyclized benzoxaborolone adduct rather than a free carboxylic acid. This cyclization has profound consequences for the oxidative stability of the boronic acid. Stereoelectronic effects within the oxaborolone ring destabilize the oxidation transition state by reducing electron donation from the cyclic oxygen to the developing p orbital on boron. That leads to a 10,000-fold increase in oxidative stability while maintaining the normal reactivity of boronic acids toward diols (e.g., carbohydrates) and nucleophiles in proteins while also presenting numerous hydrogen-bond accepting and donating groups. Thus, benzoxaborolones are useful in catalysis, chemical biology, medicinal chemistry, and allied fields.

Keywords: bioisosteres, boronic acid, catalysis, oxidative stability, pharmacophore, stereoelectronic effects

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Authors: Montoya C.A., Erina J., Erina I.

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The purpose of this research is to assess the performance and impact of CSR on business in the banking sector in Australia by applying the financial indicators of 20 ASX banks for the period from 2016-2017. The authors carried out CSR assessment in several stages of research: 1) gathering the nonfinancial and financial indicators of 20 ASX listed banks (available were only 16) from the annual reports of Australian banks for 2016 and 2017; 2) calculation of bank performance indicators using such financial indicators as return on assets (ROA), return on equity (ROE), efficiency ratio and net interest margin; 3) analysis of financial data using cross-sectional regression and answers to the research questions. Based on the obtained research results, the authors obtained answers to the initially raised research questions and came to a conclusion that Q1 - Insignificant positive coefficient result - slight positive relationship between CSR disclosure and business performance 2016; Q2 - Insignificant negative coefficient result - slight negative relationship between CSR disclosure and business performance 2017; Q3 - Insignificant positive coefficient result - slight positive relationship between CSR disclosure and business performance.

Keywords: Australia, banks, business performance, CSR

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Authors: Rukhsana Shaheen, Tahira Ifraq

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Interest based transactions led the advent of Islamic banking. In order to provide an alternative to Interest based banking, financial transactions found in classical books of fiqh were employed. Musharakah, Mudarabah, Murabahah Salam, Ijara, and some other modes were adopted. These modes were modified so that they can be adopted for banking and satisfy the needs of customers. Since the inception of Islamic banking, these modes are being used and with the passage of time, are being molded and experimented with to cater different kinds of customers and requirements. Human efforts cannot be errorless. These modes too bear legal defects which need an in-depth scrutiny and refinement. The aim of this paper is to dig the basis and rulings of these modes in classical books of fiqh and analyze its modification and adoption in Islamic banking and the legal defects that these modes are bearing. Paper will prove itself fruitful by providing remedies for the legal defects.

Keywords: financial instruments, legal defects, remedies, Islamic banking

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Authors: Saadoun Abd Errazak, Hafssaoui Abdallah, Fredj Mohamed

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Mining operations open induce risks of instability that can cause landslides and collapse at the bleachers slope. These risks may occur both during and after the operation phase. The magnitude of these risks depends on the mechanical and physical characteristics of the rock mass, the geometrical dimensions of ore bodies, their spatial arrangement, and the state of the operated area. If security and technology measures are not taken into account for this purpose, the environment will be affected. The main objective of this work is to assess these risks by analytical and numerical methods. The study is based on the geological, hydrogeological and geotechnical rock mass of the open pit quarry of Chouf Amar M'sila. The results obtained have allowed us to obtain an acceptable factor of safety and stability study of the open pit.

Keywords: stability, land sliding, numerical modeling, safety factor, open-pit quarry

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Authors: Jun Liu, Feihang Zhou, Gungyi Wang

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This paper expounds on the direct-driven PMSG wind power system control strategy, and analyses the stability conditions of the system. The direct-driven PMSG wind power system may generate the intense mechanical vibration, when wind speed changes dramatically. This paper proposes a new type of torque control strategy, which increases the system damping effectively, mitigates mechanical vibration of the system, and enhances the stability conditions of the system. The simulation results verify the reliability of the new torque control strategy.

Keywords: damping, direct-driven PMSG wind power system, mechanical vibration, torque control

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Authors: Kamyar Kabirifar, Majid Azarniush, Behbood Maashkar

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A proper house is a suitable residential area which provides comfort, proper accessibility, security, stability and permanence of structure, enough lighting, Proper initial infrastructures and ventilation for its inhabitants and the most important of all, it should be proportional to the family’s financial power. Saving energy and making optimal usage of it and also taking advantage of stable energies are the bases of green buildings. Making green building will help the health of a person living in it and in its surrounding. It will support the people and provoke their satisfaction. Not only it will bring about the raise of level of the quality of life for building inhabitants, but also it will cause the promotion of quality level of life of the people living in the surrounding area and the society.

Keywords: quality of life, green building, environment pollution, sick building

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Authors: Liming Chen, Baoxin Xu, Zhaoyun Ding, Bin Liu, Xianqiang Zhu

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In the era of big data, public investors are faced with more complicated information related to investment decisions than ever before. To survive in the fierce competition, it has become increasingly urgent for investors to combine multi-source knowledge and evaluate the companies’ true value efficiently. For this, a rule-based ontology reasoning method is proposed to support steel companies’ value assessment. Considering the delay in financial disclosure and based on cost-benefit analysis, this paper introduces the supply chain enterprises financial analysis and constructs the ontology model used to value the value of steel company. In addition, domain knowledge is formally expressed with the help of Web Ontology Language (OWL) language and SWRL (Semantic Web Rule Language) rules. Finally, a case study on a steel company in China proved the effectiveness of the method we proposed.

Keywords: financial ontology, steel company, supply chain, ontology reasoning

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Authors: Alicja Reuben, Amira Annabi

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In this paper, we explore the relationship between the selection of valuation techniques by investment banks and the banks’ risk perceptions and performance in the context of the theory of performativity. We use inferential statistics to study these relationships by building a unique dataset based on the disclosure of 12 investment banks’ 2012-2015 annual financial statements. Moreover, we create two constructs, namely intensity of use and risk perception. We measure the intensity of use as a frequency metric of how often a particular bank adopts valuation techniques for a particular asset or liability. We measure risk perception based on disclosed ranges of values for unobservable inputs. Our results are twofold: we find a significant negative correlation between (1) intensity of use and investment bank performance and (2) intensity of use and risk perception. These results indicate that a performative process takes place, and the valuation techniques are enacting their environment.

Keywords: language, linguistics, performativity, financial techniques

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Authors: Nioushasadat Haji Seyed Javadi, Ailar Hajimohammadi, Nasser Khalili

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The common method to improve the performance of asphalt binders is through modification. The utilization of recycled plastics for asphalt modification has been the subject of research studies due to their environmental and economic benefits over using commercial polymers. Polypropylene (PP) is one of the most available recycled plastics in Australia. Unlike other plastics, its contamination with other plastics during the recycling process is negligible. Therefore, the quality of recycled plastic is high, which makes it a good candidate for road construction applications. To assess its effectiveness for bitumen modification, three different grades of PP were selected. The PP grades were compared for blendability with bitumen, and the best suitable grade was chosen for further studies. The PP-modified bitumen and the base bitumen were then compared through physical and rheological properties. The stability of the PP-modified bitumen at elevated temperatures was measured, and the morphology of the samples before and after the storage stability was characterized by fluorescent microscopy. The results showed that PP had a significant influence on reducing the penetration and increasing the viscosity and the rutting resistance of the virgin bitumen. Storage stability test results indicated that the difference between the softening point of the top and bottom section of the tube sample is below the defined limit, which means the PP-modified bitumen is storage stable. However, the fluorescence microscopy results showed that the distribution of the PP particles in the bitumen matrix in the top and bottom sections of the tube are significantly different, which is an indicator of poor storage stability.

Keywords: polypropylene, waste plastic, bitumen, road pavements, storage stability, fluorescent microscopy, morphology

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Authors: Bahram Soltani, Louai Ghazieh

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Following the high profile financial scandals of 2007-2008, corporate management has been faced with strong pressures resulting from more regulatory requirements, as well as the increasing expectations of various groups of stakeholders. The responsibility acquired a big importance in front of this financial crisis. This responsibility requires more transparency and communication, inside the company with the collaborators and outside of the company with the society, while companies try to improve the degree of control and to authorize managers to realize the objectives of the company. The objective of this paper is to present the concept of the responsibility generally and the various types of manager’s responsibility in private individual within the company, as well as the explanatory theories of this responsibility through the various perspectives such as: economic, political, social and behavioral. This study should have academic and practical contributions particularly for regulators seeking to improve the companies’ practices and organizational functioning within capital market economy.

Keywords: manager, accountability, corporate performance, financial crisis, behavior

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Authors: T. H. Young, S. J. Huang, Y. S. Chiu

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This paper investigates the parametric stability of an axially moving web subjected to nonuniform in-plane edge excitations on two opposite, simply-supported edges. The web is modeled as a viscoelastic plate whose constitutive relation obeys the Kelvin-Voigt model, and the in-plane edge excitations are expressed as the sum of a static tension and a periodical perturbation. Due to the in-plane edge excitations, the moving plate may bring about parametric instability under certain situations. First, the in-plane stresses of the plate due to the nonuniform edge excitations are determined by solving the in-plane forced vibration problem. Then, the dependence on the spatial coordinates in the equation of transverse motion is eliminated by the generalized Galerkin method, which results in a set of discretized system equations in time. Finally, the method of multiple scales is utilized to solve the set of system equations analytically if the periodical perturbation of the in-plane edge excitations is much smaller as compared with the static tension of the plate, from which the stability boundaries of the moving plate are obtained. Numerical results reveal that only combination resonances of the summed-type appear under the in-plane edge excitations considered in this work.

Keywords: axially moving viscoelastic plate, in-plane periodic excitation, nonuniformly distributed edge tension, dynamic stability

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Authors: Omar Eldenali, Ahmed M. Bufares

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There are primarily two types of Unmanned Aerial Vehicle (UAVs), namely, multirotor and fixed wing. Each type has its own advantages. This study introduces a design of a fixed wing vertical take-off and landing (VTOL) UAV. The design is classified as ready-to-fly (RTF) fixed wing UAV. This means that the UAV is capable of not only taking off, landing, or hovering like a multirotor aircraft but also cruising like a fixed wing UAV. In this study, the conceptual design of 15 kg takeoff weight twin-tail boom configuration FW-VTOL plane is carried out, the initial sizing of the plane is conducted, and both the horizontal and vertical tail configurations are estimated. Moreover, the power required for each stage of flight is determined. Finally, the stability analysis of the plane based on this design is performed, the results shows that this design based on the suggested flight mission is stable and can be utilized.

Keywords: FW-VTOL, initial sizing, constrain analysis, stability

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Authors: Def Primal, Sasanty Kusumaningtyas, Ermita I. Ibrahim

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Purpose: The main objective of this study is to determine the pes planus plantaris (flat foot) condition can contribute to the disturbance of postural stability in basketball athletes in static and dynamic activities. Methods: This cross-sectional quantitative analytical retrospective study on 47 subjects of basketball student-athletes identified the foot arch index by extensive footprint area and AMTI (Advanced Mechanical Technology Inc.) Force flat-form (force plate) determined their postural stability. Subjects were conducted in three activities (static, dynamic vertical jump, and dynamic loading response) for ground reaction force (GRF) resultant vectors towards the vertical plane of body mass (W). Results Analytical results obtained that 80.9% of subjects had pes planus plantaris. It shows no significant differences in pes planus plantaris incidence in both sexes subject (p>0.005); however, there are differences in athlete’s exercise period aspect. Athlete students who have practiced strictly for more than four years’ experience over 50% of pes planus plantaris; furthermore, a long period of exercise was believed to stimulate pes planus. The average value of GRF vectors of pes planus plantaris subjects on three different basketball movements shows a significant correlation to postural stability. Conclusions Pes planus plantaris affected almost basketball athletes regarding the length and intensity of exercise performed. The condition significantly contributes to postural stability disturbance on a static condition, dynamic vertical jump, and dynamic vertical jump loading response.

Keywords: pes planus plantaris, flatfoot, ground reaction force, static and dynamic stability

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Authors: Ndagi Salihu

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Corporate governance mechanisms are the control measures for ensuring that all the interests groups are equally represented and management are working towards wealth creation in the interest of all. Therefore, there are many empirical studies during the last three decades on corporate governance and firm performance. However, little is known about the effects of family ownership on the relationship between corporate governance and firm performance, especially in the developing economy like Nigeria. This limit our understanding of the unique governance dynamics of family ownership with regards firm performance. This study examined the impact of family ownership on the relationship between governance mechanisms and financial performance of publicly listed companies in Nigeria. The study adopted quantitative research methodology using correlational ex-post factor design and secondary data from annual reports and accounts of a sample of 23 listed companies for a period of 5 years (2014-2018). The explanatory variables are the board size, board composition, board financial expertise, and board audit committee attributes. Financial performance is proxy by Return on Assets (ROA) and Return on Equity (ROE). Multiple panel regression technique of data analysis was employed in the analysis, and the study found that family ownership has a significant positive effect on the relationships between corporate governance mechanisms and financial performance of publicly listed firms in Nigeria. This finding is the same for both the ROA and ROE. However, the findings indicate that board size, board financial expertise, and board audit committee attributes have a significant positive impact on the ROA and ROE of the sample firms after the moderation. Moreover, board composition has significant positive effect on financial performance of the sample listed firms in terms of ROA and ROE. The study concludes that the use of family ownership in the control of firms in Nigeria could improve performance by reducing the opportunistic actions managers as well as agency problems. The study recommends that publicly listed companies in Nigeria should allow significant family ownership of equities and participation in management.

Keywords: profitability, board characteristics, agency theory, stakeholders

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Authors: Muhammad Shujaat Saleem, Imamuddin

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In reply to the argument made by the non-believers of Makkah “Sale is similar to riba”, Almighty Allah ordered “Sale is permissible while riba is impermissible”. The main intent of the study was to clarify the fallacy prevailing among the Muslims that in practical terms the product of Murabaha which is being offered by the Islamic banks is similar to that of conventional interest based business loan. However, specific objective was to ascertain the degree of financial efficiency on the basis of fund/loan utilization for intended purpose of Murabaha financing vis-à-vis conventional interest based business loan. The study employed survey strategy to collect primary data through structured close ended questionnaires from the sample of 98 Murabaha officers and 178 loan officers out of the whole population of 5 Islamic and 10 conventional banks respectively. Quantitative and qualitative techniques were used to analyze the data and the same is tabulated by use of frequency tables. The study found that the financial efficiency of Murabaha financing is more than that of conventional interest based business loan by 28% as Murabaha funds of Islamic banks are utilized for its intended purpose to the extent of 97% on average, compared to 69% of business loan offered by conventional banks.

Keywords: financial efficiency, murabaha funds, loan amount, intended purpose

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Authors: Khursheed Ahmad, Shaikh M. Mobin

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In this work, we have developed a highly stable planar heterojunction perovskite solar cells (PSCs) with a architecture (ITO/GO/PEDOT:PSS/MAPbI3/PCBM/Carbon tape). The PSCs was fabricated under air using GO/PEDOT:PSS as hole transport layer while the carbon tape used as a back contact to complete the device. The fabricated PSCs device exhibited good stability and performance in terms of power conversion efficiency of 5.2%. The PSCs devices were exposed to ambient condition for 4 days which shows excellent stability confirmed by XRD analysis. We believed that the stability of the planar heterojunction perovskite solar cell may be due the presence of GO which inhibits the direct contact between PEDOT:PSS and MAPbI3.

Keywords: graphene oxide, perovskite solar cells, hole transport layer, PEDOT:PSS

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Authors: Benjamin Bae

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This study investigates the relationship between the adoption of International Financial Reporting Standards (IFRS) and the performance of banks in a number of Middle East countries. We examine whether performance levels and audit qualities play any role in adopting the International Financial Reporting Standards (IFRS) in Middle East banks. This study hypothesizes that, in general, banks with high performance and audit quality measures tend to adopt the IFRS than low-performing banks, as the adoption of a new standard takes lots of time and expenses, which could be an additional burden to them. The results show that three hypotheses are strongly supported whereas the cultural factor hypothesis is not. Banks with high ROA and ROE tend to adopt IFRS than low-performing banks. Big banks are also more likely to adopt IFRS than small or medium-sized banks. Contrary to the hypothesis, the Islamic bank status as a cultural factor has some positive impact on the adoption of the banks in the region. Overall, this research adds to our understanding of the bank’s performance. First, evidence on the relationship between the adoption of IFRS and the bank’s performance should be useful to investors. Second, the findings of this study provide financial statement users with useful information about the bank’s performance measures.

Keywords: IFRS, financial performance, audit quality, culture, firm size

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Authors: Jignasha Derasari, Patel Krishna M, Modi Jignasa G.

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Chemical stability of pharmaceutical molecules is a matter of great concern as it affects the safety and efficacy of the drug product.Stability testing data provides the basis to understand how the quality of a drug substance and drug product changes with time under the influence of various environmental factors. Besides this, it also helps in selecting proper formulation and package as well as providing proper storage conditions and shelf life, which is essential for regulatory documentation. The ICH guideline states that stress testing is intended to identify the likely degradation products which further help in determination of the intrinsic stability of the molecule and establishing degradation pathways, and to validate the stability indicating procedures. A simple, accurate and precise stability indicating RP- HPLC method was developed and validated for simultaneous estimation of Amiloride Hydrochloride and Furosemide in tablet dosage form. Separation was achieved on an Phenomenexluna ODS C18 (250 mm × 4.6 mm i.d., 5 µm particle size) by using a mobile phase consisting of Ortho phosphoric acid: Acetonitrile (50:50 %v/v) at a flow rate of 1.0 ml/min (pH 3.5 adjusted with 0.1 % TEA in Water) isocratic pump mode, Injection volume 20 µl and wavelength of detection was kept at 283 nm. Retention time for Amiloride Hydrochloride and Furosemide was 1.810 min and 4.269 min respectively. Linearity of the proposed method was obtained in the range of 40-60 µg/ml and 320-480 µg/ml and Correlation coefficient was 0.999 and 0.998 for Amiloride hydrochloride and Furosemide, respectively. Forced degradation study was carried out on combined dosage form with various stress conditions like hydrolysis (acid and base hydrolysis), oxidative and thermal conditions as per ICH guideline Q2 (R1). The RP- HPLC method has shown an adequate separation for Amiloride hydrochloride and Furosemide from its degradation products. Proposed method was validated as per ICH guidelines for specificity, linearity, accuracy; precision and robustness for estimation of Amiloride hydrochloride and Furosemide in commercially available tablet dosage form and results were found to be satisfactory and significant. The developed and validated stability indicating RP-HPLC method can be used successfully for marketed formulations. Forced degradation studies help in generating degradants in much shorter span of time, mostly a few weeks can be used to develop the stability indicating method which can be applied later for the analysis of samples generated from accelerated and long term stability studies. Further, kinetic study was also performed for different forced degradation parameters of the same combination, which help in determining order of reaction.

Keywords: amiloride hydrochloride, furosemide, kinetic study, stability indicating RP-HPLC method validation

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Authors: Amira A. A. Abdallah, Amir A. Beltagi

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Background: Core stability training has recently attracted attention for improving muscle balance and optimizing performance in healthy and unhealthy individuals. Purpose: This study investigated the effect of beginner’s core stability exercises on trunk flexors’/extensors’ peak torque ratio and trunk flexors’ and extensors’ peak torques. Methods: Thirty five healthy individuals participated in the study. They were randomly assigned to two groups; experimental “group I, n=20” and control “group II, n=15”. Their mean age, weight and height were 20.7±2.4 vs. 20.3±0.61 years, 66.5±12.1 vs. 68.57±12.2 kg and 166.7±7.8 vs. 164.28 ±7.59 cm. for group I vs. group II. Data were collected using the Biodex Isokinetic system. The participants were tested twice; before and after a 6-week period during which group I performed a core stability training program. Results: The 2x2 Mixed Design ANOVA revealed that there were no significant differences (p>0.025) in the trunk flexors’/extensors’ peak torque ratio between the pre-test and post-test conditions for either group. Moreover, there were no significant differences (p>0.025) in the trunk flexion/extension ratios between both groups at either condition. However, the 2x2 Mixed Design MANOVA revealed significant increases (p<0.025) in the trunk flexors’ and extensors’ peak torques in the post-test condition compared with the pre-test in group I with no significant differences (p>0.025) in group II. Moreover, there was a significant increase (p<0.025) in the trunk flexors’ peak torque only in group I compared with group II in the post-test condition with no significant differences in the other conditions. Interpretation/Conclusion: The improvement in muscle performance indicated by the increase in the trunk flexors’ and extensors’ peak torques in the experimental group recommends including core stability training in the exercise programs that aim to improve muscle performance.

Keywords: core stability, isokinetic, trunk muscles, muscle balance

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Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak

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The global financial crisis that erupted in 2008 is associated mainly with the debt crisis. It quickly spread globally through financial markets, international banks and trade links, and affected many economic sectors. Measured by the index of the year-on-year change in GDP and industrial production, the consequences of the global financial crisis manifested themselves with some delay also in the Czech economy. This can be considered a result of the overwhelming export orientation of Czech industrial enterprises. These events offer an important opportunity to study how financial and macroeconomic instability affects corporate performance. Corporate performance factors have long been given considerable attention. It is therefore reasonable to ask whether the findings published in the past are also valid in the times of economic instability and subsequent recession. The decisive factor in effective corporate performance measurement is the existence of an appropriate system of indicators that are able to assess progress in achieving corporate goals. Performance measures may be based on non-financial as well as on financial information. In this paper, financial indicators are used in combination with other characteristics, such as the firm size and ownership structure. Financial performance is evaluated based on traditional performance indicators, namely, return on equity and return on assets, supplemented with indebtedness and current liquidity indices. As investments are a very important factor in corporate performance, their trends and importance were also investigated by looking at the ratio of investments to previous year’s sales and the rate of reinvested earnings. In addition to traditional financial performance indicators, the Economic Value Added was also used. Data used in the research were obtained from a questionnaire survey administered in industrial enterprises in the Czech Republic and from AMADEUS (Analyse Major Database from European Sources), from which accounting data of companies were obtained. Respondents were members of the companies’ senior management. Research results unequivocally confirmed that corporate performance dropped significantly in the 2010-2012 period, which can be considered a result of the global financial crisis and a subsequent economic recession. It was reflected mainly in the decreasing values of profitability indicators and the Economic Value Added. Although the total year-on-year indebtedness declined, intercompany indebtedness increased. This can be considered a result of impeded access of companies to bank loans due to the credit crunch. Comparison of the results obtained with the conclusions of previous research on a similar topic showed that the assumption that firms under foreign control achieved higher performance during the period investigated was not confirmed.

Keywords: corporate performance, foreign control, intercompany indebtedness, ratio of investment

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Authors: R. Premasiri, W. A. H. A. Abeygunasekara, S. M. Hewavidana, T. Jananthan, R. M. S. Madawala, K. Vaheeshan

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Forecasting the potential for disastrous events such as landslides has become one of the major necessities in the current world. Most of all, the landslides occurred in Sri Lanka are found to be triggered mostly by intense rainfall events. The study area is the landslide near Gerandiella waterfall which is located by the 41st kilometer post on Nuwara Eliya-Gampala main road in Kotmale Division in Sri Lanka. The landslide endangers the entire Kotmale town beneath the slope. Geographic Information System (GIS) platform is very much useful when it comes to the need of emulating the real-world processes. The models are used in a wide array of applications ranging from simple evaluations to the levels of forecast future events. This project investigates the possibility of developing a dynamic model to map the spatial distribution of the slope stability. The model incorporates several theoretical models including the infinite slope model, Green Ampt infiltration model and Perched ground water flow model. A series of rainfall values can be fed to the model as the main input to simulate the dynamics of slope stability. Hydrological model developed using GIS is used to quantify the perched water table height, which is one of the most critical parameters affecting the slope stability. Infinite slope stability model is used to quantify the degree of slope stability in terms of factor of safety. DEM was built with the use of digitized contour data. Stratigraphy was modeled in Surfer using borehole data and resistivity images. Data available from rainfall gauges and piezometers were used in calibrating the model. During the calibration, the parameters were adjusted until a good fit between the simulated ground water levels and the piezometer readings was obtained. This model equipped with the predicted rainfall values can be used to forecast of the slope dynamics of the area of interest. Therefore it can be investigated the slope stability of rainfall induced landslides by adjusting temporal dimensions.

Keywords: factor of safety, geographic information system, hydrological model, slope stability

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Authors: Zain Ul Abideen

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The study examines the potentially dark and bright parts of behavioral biases in investors’ investment decisions in the Pakistani equity market. These biases, directly and indirectly, play a comprehensive role in controlling and deciding the investor’s investment decisions. Stock market anomalies are used as a mediator, while financial literacy is used as a moderator to check the mentioned relationship. The sample consisted of investors who have trading experience of more than two years in the stock market. The result indicates that calendar anomalies do not mediate between overconfidence bias and investment decisions. However, the study investigates the mediating role of fundamental and technical anomalies between overconfidence bias and investment decisions. Furthermore, calendar anomalies play a significant role between the disposition effect and investment decisions. Calendar anomalies also mediate between herding bias and investment decisions. Financial literacy significantly moderates between behavioral biases and stock market anomalies. This research would be beneficial for individual and professional investors in their investment decisions. They should be financially literate, consequently less biased and have no market anomalies. Investors in emerging and developed economies can make optimal decisions in their respective stock markets.

Keywords: behavioral biases, financial literacy, stock market anomalies, investment decision

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Authors: Fatemeh Fahimifar, Rouhollah Nazari, Seyed Mohammad Reza Hosseini

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Achieving an adaptable rate of economic growth has always been at the forefront of Iran development programs. In order to increase welfare level of the people in the society, all economic and social indices should be improved which is possible just in case of country's economic development and growth. While developing countries has realized the gap between developed countries and developing countries in today's world, a massive movement has been emerged in less developed countries to eliminate this economic gap. Hence this study investigates the effect of financial development, foreign direct investment and intellectual property on Iran's economic growth and taking into account other variables on economic growth such as impact of the share of foreign direct investment on GDP, government consumptive expenditure share of GDP has been paid. Period used in this study is related to the years 1974 to 2009. Also, in this research we have used Generalized Method of Moments (GMM) to examine relationship between variables. The results of this study indicate a meaningful and negative impact of financial development, the share of government consumptive expenditure to GDP and similarly, the initial GDP on economic growth. Also, the degree of economy openness, foreign direct investment and intellectual property has a meaningful positive impact on economic growth.

Keywords: financial development, FDI, intellectual property, economic growth, Iran

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Authors: Michael Nthabiseng Moeti, Makhulu Relebogile Langa, Joey Jansen van Vuuren

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This paper examines the utilization of personal electronic devices like laptops, tablets, and smartphones for professional duties within a financial organization. This phenomenon is known as bring your own device (BYOD). BYOD accords employees the freedom to use their personal devices to access corporate resources from anywhere in the world with Internet access. BYOD arrangements introduce significant security risks for both organizations and users. These setups change the threat landscape for enterprises and demand unique security strategies, as conventional tools tailored for safeguarding managed devices fall short in adequately protecting enterprise assets without active user cooperation. This paper applies protection motivation theory (PMT) to highlight behavioral risks from BYOD users that may impact the security of financial institutions. Thematic analysis was applied to gain a comprehensive understanding of how users perceive this phenomenon. These findings demonstrates that the existence of a security policy does not ensure that all employees will take measures to protect their personal devices. Active promotion of BYOD security policies is crucial for financial institution employees and management. This paper developed a BYOD security model which is useful for understanding compliant behaviors. Given that BYOD security is becoming a major concern across financial sector, it is important. The paper recommends that future research could expand the number of universities from which data is collected.

Keywords: BYOD, information security, protection motivation theory, security risks, thematic analysis

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: implied adjusted volatility, financial crisis, Leland option pricing models, Australian index options

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Authors: James Killian, Sarah Cox

Abstract:

The use of stability criteria within geotechnical engineering is the way the results of analyses are conveyed, and sensitivities and risk assessments are performed. Historically, the primary stability criteria for slope design has been the Factor of Safety (FOS) coming from a limit calculation. Increasingly, the value derived from Strength Reduction Factor (SRF) analysis is being used as the criteria for stability analysis. The purpose of this work was to study in detail the relationship between SRF values produced from a numerical modeling technique and the traditional FOS values produced from Limit Equilibrium (LEM) analyses. This study utilized a model of a 3000-foot-high slope with a 45-degree slope angle, assuming a perfectly plastic mohr-coulomb constitutive model with high cohesion and friction angle values typical of a large hard rock mine slope. A number of variables affecting the values of the SRF in a numerical analysis were tested, including zone size, in-situ stress, tensile strength, and dilation angle. This paper demonstrates that in most cases, SRF values are lower than the corresponding LEM FOS values. Modeled zone size has the greatest effect on the estimated SRF value, which can vary as much as 15% to the downside compared to FOS. For consistency when using SRF as a stability criteria, the authors suggest that numerical model zone sizes should not be constructed to be smaller than about 1% of the overall problem slope height and shouldn’t be greater than 2%. Future work could include investigations of the effect of anisotropic strength assumptions or advanced constitutive models.

Keywords: FOS, SRF, LEM, comparison

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Authors: Fatemeh Khalili Varnamkhasti

Abstract:

Natural administration has outside impacts such that companies regularly respect natural input as a fetched with no clear advantage. In this manner, in case natural security can bring financial benefits, showing that natural security and financial interface are in concordance, companies will effectively fulfill their obligation to ensure the environment. Contamination is, for the most part, related to the squandering of assets, misplaced vitality, and crude materials not completely utilized. Contamination avoidance and clean innovation, as inner organizational hones, can offer assistance to play down taken toll and to develop economic aptitudes for the long run, whereas outside organizational hones (item stewardship and maintainability vision) can offer assistance to coordinated partner sees into trade operations and to define future commerce directions. Taken together, these practices can drive shareholder esteem while at the same time contributing to a more feasible world. On the off chance that the company's budgetary execution is nice, it'll draw in financial specialists to contribute and progress the company's execution. In this way, budgetary execution is additionally the determinant of the progression of a company. This can be because the monetary back gotten by the company gets to be the premise for the running of trade forms in the future. Moreover, A green picture can assist firms in pulling in more clients by influencing shopper choices and moving forward with buyer brand dependability. Numerous shoppers need to purchase items from ecologically inviting firms, in spite of the fact that there are, of course, a few who will not pay premium costs for green items.

Keywords: environmental activities, financial performanance, advantage, clients

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Authors: Irina Bondarenko, Olga Vandina

Abstract:

The theory of evolutionary economics is the basis for preparation and application of methods forming the stock market infrastructure development concept. The authors believe that the basis for the process of formation and development of the stock market model infrastructure in Russia is the theory of large systems. This theory considers the financial market infrastructure as a whole on the basis of macroeconomic approach with the further definition of its aims and objectives. Evaluation of the prospects for interaction of securities market institutions will enable identifying the problems associated with the development of this system. The interaction of elements of the stock market infrastructure allows to reduce the costs and time of transactions, thereby freeing up resources of market participants for more efficient operation. Thus, methodology of the transaction analysis allows to determine the financial infrastructure as a set of specialized institutions that form a modern quasi-stable system. The financial infrastructure, based on international standards, should include trading systems, regulatory and supervisory bodies, rating agencies, settlement, clearing and depository organizations. Distribution of financial assets, reducing the magnitude of transaction costs, increased transparency of the market are promising tasks in the solution for questions of services level and quality increase provided by institutions of the securities market financial infrastructure. In order to improve the efficiency of the regulatory system, it is necessary to provide "standards" for all market participants. The development of a clear regulation for the barrier to the stock market entry and exit, provision of conditions for the development and implementation of new laws regulating the activities of participants in the securities market, as well as formulation of proposals aimed at minimizing risks and costs, will enable the achievement of positive results. The latter will be manifested in increasing the level of market participant security and, accordingly, the attractiveness of this market for investors and issuers.

Keywords: institutional infrastructure, financial assets, regulatory system, stock market, transparency of the market

Procedia PDF Downloads 127

Authors: Dae-Hee Son, Soon-Ryul Nam

Abstract:

The power system frequency falls when disturbance such as rapid increase of system load or loss of a generating unit occurs in power systems. Especially, increase in the number of renewable generating units has a bad influence on the power system because of loss of generating unit depending on the circumstance. Conventional technologies use frequency droop control battery output for the frequency regulation and balance between supply and demand. If power is supplied using the fast output characteristic of the battery, power system stability can be further more improved. To improve the power system stability, we propose battery output control using ROCOF (Rate of Change of Frequency) in this paper. The bigger the power difference between the supply and the demand, the bigger the ROCOF drops. Battery output is controlled proportionally to the magnitude of the ROCOF, allowing for faster response to power imbalances. To simulate the control method of battery output system, we develop the user defined model using PSS/E and confirm that power system stability is improved by comparing with frequency droop control.

Keywords: PSS/E user defined model, power deviation, frequency droop control, ROCOF (rate of change of frequency)

Procedia PDF Downloads 397