Search results for: asset liability modelling

Authors: Yousef Rostami Gharainy

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This paper presents resource consumption accounting as an imaginative way to deal with management accounting which concentrates on administrators as the essential clients of the data and gives the best information of conventional management accounting. This system underscores that association's asset reasons costs, accordingly in costing frameworks the emphasis ought to be on assets and utilization of them. Resource consumption accounting consolidates two costing methodologies, action based and German cost accounting method known as GPK. This methodology notwithstanding giving a chance to managers to decide, makes task management accounting as operational. The reason for this article is to clarify the idea of resource consumption accounting, its parts and highlights and use of this strategy in associations. In the first place we deliver to presentation of resource consumption accounting, foundation, reasons for its development and the issues that past costing frameworks confronted it. At that point we give standards and presumptions of this technique; at last we depict the execution of this strategy in associations and its preferences over other costing strategies.

Keywords: resource consumption accounting, management accounting, action based method, German cost accounting method

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Authors: Teresa Azevedo PerdicoúLis, Paulo Lopes Dos Santos

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The conceptualisation of the problem of network optimisation as a noncooperative game sets up a holistic interactive approach that brings together different network features (e.g., com-pressor stations, sources, and pipelines, in the gas context) where the optimisation objectives are different, and a single optimisation procedure becomes possible without having to feed results from diverse software packages into each other. A mathematical model of this type, where independent entities take action, offers the ideal modularity and subsequent problem decomposition in view to design a decentralised algorithm to optimise the operation and management of the network. In a game framework, compressor stations and sources are under-stood as players which communicate through network connectivity constraints–the pipeline model. That is, in a scheme similar to tatonnementˆ, the players appoint their best settings and then interact to check for network feasibility. The devolved degree of network unfeasibility informs the players about the ’quality’ of their settings, and this two-phase iterative scheme is repeated until a global optimum is obtained. Due to network transients, its optimisation needs to be assessed at different points of the control interval. For this reason, the proposed approach to optimisation has two stages: (i) the first stage computes along the period of optimisation in order to fulfil the requirement just mentioned; (ii) the second stage is initialised with the solution found by the problem computed at the first stage, and computes in the end of the period of optimisation to rectify the solution found at the first stage. The liability of the proposed scheme is proven correct on an abstract prototype and three example networks.

Keywords: connectivity matrix, gas network optimisation, large-scale, noncooperative game, system decomposition

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Authors: Lu Ren, You-Liang Fang, Yan-Gang Zhao

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In recent years, the application of BIM (Building Information Modelling) to construction schedule plan has been the focus of more and more researchers. In order to assess the reasonable level of the BIM-based construction schedule plan, that is whether the schedule can be completed on time, some researchers have introduced reliability theory to evaluate. In the process of evaluation, the uncertain factors affecting the construction schedule plan are regarded as random variables, and probability distributions of the random variables are assumed to be normal distribution, which is determined using two parameters evaluated from the mean and standard deviation of statistical data. However, in practical engineering, most of the uncertain influence factors are not normal random variables. So the evaluation results of the construction schedule plan will be unreasonable under the assumption that probability distributions of random variables submitted to the normal distribution. Therefore, in order to get a more reasonable evaluation result, it is necessary to describe the distribution of random variables more comprehensively. For this purpose, cubic normal distribution is introduced in this paper to describe the distribution of arbitrary random variables, which is determined by the first four moments (mean, standard deviation, skewness and kurtosis). In this paper, building the BIM model firstly according to the design messages of the structure and making the construction schedule plan based on BIM, then the cubic normal distribution is used to describe the distribution of the random variables due to the collecting statistical data of the random factors influencing construction schedule plan. Next the reliability analysis of the construction schedule plan based on BIM can be carried out more reasonably. Finally, the more accurate evaluation results can be given providing reference for the implementation of the actual construction schedule plan. In the last part of this paper, the more efficiency and accuracy of the proposed methodology for the reliability analysis of the construction schedule plan based on BIM are conducted through practical engineering case.

Keywords: BIM, construction schedule plan, cubic normal distribution, reliability analysis

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Authors: M. Inmaculada Alvarez-Fernández, Celestino González-Nicieza, M. Belén Prendes-Gero, Fernando López-Gayarre

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Among many factors affecting the stability of mining excavations, rock-bursts and tremors play a special role. These dynamic loads occur practically always and have different sources of generation. The most important of them is the commonly used mining technique, which disintegrates a certain area of the rock mass not only in the area of the planned mining, but also creates waves that significantly exceed this area affecting the structural elements. In this work it is analysed the consequences of dynamic loads over the structural elements in an underground room and pillar mine to avoid roof instabilities. With this end, dynamic loads were evaluated through in situ and laboratory tests and simulated with numerical modelling. Initially, the geotechnical characterization of all materials was carried out by mean of large-scale tests. Then, drill holes were done on the roof of the mine and were monitored to determine possible discontinuities in it. Three seismic stations and a triaxial accelerometer were employed to measure the vibrations from blasting tests, establish the dynamic behaviour of roof and pillars and develop the transmission laws. At last, computer simulations by FLAC3D software were done to check the effect of vibrations on the stability of the roofs. The study shows that in-situ tests have a greater reliability than laboratory samples because of eliminating the effect of heterogeneities, that the pillars work decreasing the amplitude of the vibration around them, and that the tensile strength of a beam and depending on its span is overcome with waves in phase and delayed. The obtained transmission law allows designing a blasting which guarantees safety and prevents the risk of future failures.

Keywords: dynamic modelling, long term instability risks, room and pillar, seismic collapse

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Authors: Mohamed Elghorab, Vendra C. Madhav Rao, Jennifer X. Wen

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Turbulence modelling is still evolving, and efforts are on to improve and develop numerical methods to simulate the real turbulence structures by using the empirical and experimental information. The monotonically integrated large eddy simulation (MILES) is an attractive approach for modelling turbulence in high Re flows, which is based on the solving of the unfiltered flow equations with no explicit sub-grid scale (SGS) model. In the current work, this approach has been used, and the action of the SGS model has been included implicitly by intrinsic nonlinear high-frequency filters built into the convection discretization schemes. The MILES solver is developed using the opensource CFD OpenFOAM libraries. The role of flux limiters schemes namely, Gamma, superBee, van-Albada and van-Leer, is studied in predicting turbulent statistical quantities for a fully developed channel flow with a friction Reynolds number, Re_T = 180, and compared the numerical predictions with the well-established Direct Numerical Simulation (DNS) results for studying the wall generated turbulence. It is inferred from the numerical predictions that Gamma, van-Leer and van-Albada limiters produced more diffusion and overpredicted the velocity profiles, while superBee scheme reproduced velocity profiles and turbulence statistical quantities in good agreement with the reference DNS data in the streamwise direction although it deviated slightly in the spanwise and normal to the wall directions. The simulation results are further discussed in terms of the turbulence intensities and Reynolds stresses averaged in time and space to draw conclusion on the flux limiter schemes performance in OpenFOAM context.

Keywords: flux limiters, implicit SGS, MILES, OpenFOAM, turbulence statistics

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Authors: Qi Xiu, Hiromu Hota, Yohsuke Ishii, Takuya Oda

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Recently, collectable manufacturing data are rapidly increasing. On the other hand, mega recall is getting serious as a social problem. Under such circumstances, there are increasing needs for preventing mega recalls by defect analysis such as root cause analysis and abnormal detection utilizing manufacturing data. However, the time to classify strings in manufacturing data by traditional method is too long to meet requirement of quick defect analysis. Therefore, we present String Length Distribution Classification method (SLDC) to correctly classify strings in a short time. This method learns character features, especially string length distribution from Product ID, Machine ID in BOM and asset list. By applying the proposal to strings in actual manufacturing data, we verified that the classification time of strings can be reduced by 80%. As a result, it can be estimated that the requirement of quick defect analysis can be fulfilled.

Keywords: string classification, data quality, feature selection, probability distribution, string length

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Authors: Andrew Kanzunguze, Lusayo Mwabumba, Jason K. Gilbertson, Dominic B. Gondwe, George Z. Nxumayo

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Knowledge about the spatio-temporal distribution of invasive plants in protected areas provides a base from which hypotheses explaining proliferation of plant invasions can be made alongside development of relevant invasive plant monitoring programs. The aim of this study was to investigate the spatio-temporal distribution of bracken fern on the grassland plateau of Nyika National Park over the past 30 years (1986-2016) as well as to determine the current extent of the invasion. Remote sensing, machine learning, and statistical modelling techniques (object-based image analysis, image classification and linear regression analysis) in geographical information systems were used to determine both the spatial and temporal distribution of bracken fern in the study area. Results have revealed that bracken fern has been increasing coverage on the Nyika plateau at an estimated annual rate of 87.3 hectares since 1986. This translates to an estimated net increase of 2,573.1 hectares, which was recorded from 1,788.1 hectares (1986) to 4,361.9 hectares (2016). As of 2017 bracken fern covered 20,940.7 hectares, approximately 14.3% of the entire grassland plateau. Additionally, it was observed that the fern was distributed most densely around Chelinda camp (on the central plateau) as well as in forest verges and roadsides across the plateau. Based on these results it is recommended that Ecological Niche Modelling approaches be employed to (i) isolate the most important factors influencing bracken fern proliferation as well as (ii) identify and prioritize areas requiring immediate control interventions so as to minimize bracken fern proliferation in Nyika National Park.

Keywords: bracken fern, image classification, Landsat-8, Nyika National Park, spatio-temporal distribution

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Authors: Akriti Chandra, Gourav Dwivedi, Seema Sharma, Shivani

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This study investigates the adoption of green business (GB) models within a circular economy framework (CEBM) for Micro Small and Medium Enterprise (MSME), given the rising importance of sustainable practices. The research begins by exploring the shift from linear business models towards resource-efficient, sustainable models, emphasizing the benefits of the circular economy. The study's literature review identifies 60 influential factors impacting the shift to green businesses, grouped as internal and external drivers. However, there is a research gap in examining these factors' interrelationships and operationalizing them within MSMEs. To address this gap, the study employs Total Interpretive Structural Modelling (TISM) to establish a hierarchical structure of factors influencing GB and circular economy business model (CEBM) adoption. Findings reveal that factors like green innovation and market competitiveness are particularly impactful. Using Systems Theory, which views organizations as complex adaptive systems, the study contextualizes these drivers within MSMEs, proposing a framework for a sustainable business model adoption. The study concludes with significant implications for policymakers, suggesting that the identified factors and their hierarchical relationships can guide policy formulation for a broader transition to green business practices. This work also invites further research, recommending larger, quantitative studies to empirically validate these factors and explore practical challenges in implementing CEBMs.

Keywords: green business (GB), circular economy business model (CEBM), micro small and medium enterprise (MSME), total interpretive structural modelling (TISM), systems theory

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Authors: Muhammad Sheraz, Vasile Preda, Silvia Dedu

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Concepts of econophysics are usually used to solve problems related to uncertainty and nonlinear dynamics. In the theory of option pricing the risk neutral probabilities play very important role. The application of entropy in finance can be regarded as the extension of both information entropy and the probability entropy. It can be an important tool in various financial methods such as measure of risk, portfolio selection, option pricing and asset pricing. Gulko applied Entropy Pricing Theory (EPT) for pricing stock options and introduced an alternative framework of Black-Scholes model for pricing European stock option. In this article, we present solutions to maximum entropy problems based on Tsallis, Weighted-Tsallis, Kaniadakis, Weighted-Kaniadakies entropies, to obtain risk-neutral densities. We have also obtained the value of European call and put in this framework.

Keywords: option pricing, Black-Scholes model, Tsallis entropy, Kaniadakis entropy, weighted entropy, risk-neutral density

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Authors: Evgeny Obraztsov, Ilya Kremnev, Vitaly Sokolov, Maksim Gavrilov, Evgeny Tretyakov, Vladimir Kukhtevich, Vladimir Bezlepkin

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Over the last decade, a specific set of connected software tools and calculation codes has been gradually developed. It allows simulating I&C systems, thermal-hydraulic, neutron-physical and electrical processes in elements and systems at the Unit of NPP (initially with WWER (pressurized water reactor)). In 2012 it was called a complex simulation suite “Virtual Unit of NPP” (or CSS “VEB” for short). Proper application of this complex tool should result in a complex coupled mathematical computational model. And for a specific design of NPP, it is called the Virtual Power Unit (or VPU for short). VPU can be used for comprehensive modelling of a power unit operation, checking operator's functions on a virtual main control room, and modelling complicated scenarios for normal modes and accidents. In addition, CSS “VEB” contains a combination of thermal hydraulic codes: the best-estimate (two-liquid) calculation codes KORSAR and CORTES and a homogenous calculation code TPP. So to analyze a specific technological system one can build thermal-hydraulic simulation models with different detalization levels up to a nodalization scheme with real geometry. And the result at some points is similar to the notion “engineering/testing simulator” described by the European utility requirements (EUR) for LWR nuclear power plants. The paper is dedicated to description of the tools mentioned above and an example of the application of the engineering thermal-hydraulic simulator in analysis of the boron acid concentration in the primary coolant (changed by the make-up and boron control system).

Keywords: best-estimate code, complex simulation suite, engineering simulator, power plant, thermal hydraulic, VEB, virtual power unit

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Authors: Pooree Sakot, Marndarath Suksanga

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Organizations are under increasing pressure to improve performance and maximize the contribution of every employee. Employee engagement has become an attractive business proposition. The triple bottom line consists of three Ps: profit, people and planet. It aims to measure the financial, social and environmental performance of the corporation over a period of time. People are the most important asset of every organization. Most of the studies suggest that employee engagement improves the bottom line in almost every instance and it is well worth all organizational efforts to actively engage employees. Engaged employees have an impact on productivity and financial performance. Efficient leadership and effective management can take place if emerging paradigm like employee engagement is appropriately understood and put into practice. Employee engagement starts at the first step i.e. recruitment of an employee to the last step i.e. retirement .The HR Practices of an organization play the most major role in helping the employees walk the extra mile. Effective employee engagement is the key component for improved organizational performance.

Keywords: employee engagement, higher education, tool, success

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Authors: A. Abdul-Ameer

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The equations governing the distance, pressure- volume flow relationships for the pipeline transportation of gaseous mixtures, are considered. A derivation based on differential calculus, for an element of this system model, is addressed. Solutions, yielding the input- output response following pressure changes, are reviewed. The technical problems associated with these analytical results are identified. Procedures resolving these difficulties providing thereby an attractive, simple, analysis route are outlined. Computed responses, validating thereby calculated predictions, are presented.

Keywords: pressure, distance, flow, dissipation, models

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Authors: Yuanjin Liu

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Retirement withdrawal strategies are very important to minimize the probability of ruin in retirement. The ruin probability is modeled as a function of initial withdrawal age, gender, asset allocation, inflation rate, and initial withdrawal rate. The ruin probability is obtained based on the 2019 period life table for the Social Security, IRS Required Minimum Distribution (RMD) Worksheets, US historical bond and equity returns, and inflation rates using simulation. Several popular machine learning algorithms of the generalized additive model, random forest, support vector machine, extreme gradient boosting, and artificial neural network are built. The model validation and selection are based on the test errors using hyperparameter tuning and train-test split. The optimal model is recommended for retirees to monitor the ruin probability. The optimal withdrawal strategy can be obtained based on the optimal predictive model.

Keywords: ruin probability, retirement withdrawal strategies, predictive models, optimal model

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Authors: Addisu H. Addis, Hugh T. Blair, Paul R. Kenyon, Stephen T. Morris, Nicola M. Schreurs, Dorian J. Garrick

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Agent-based modeling (ABM) enables an in silico representation of complex systems and cap-tures agent behavior resulting from interaction with other agents and their environment. This study developed an ABM to represent a pasture-based beef cattle finishing systems in New Zea-land (NZ) using attributes of the rearer, finisher, and processor, as well as specific attributes of dairy-origin beef cattle. The model was parameterized using values representing 1% of NZ dairy-origin cattle, and 10% of rearers and finishers in NZ. The cattle agent consisted of 32% Holstein-Friesian, 50% Holstein-Friesian–Jersey crossbred, and 8% Jersey, with the remainder being other breeds. Rearers and finishers repetitively and simultaneously interacted to determine the type and number of cattle populating the finishing system. Rearers brought in four-day-old spring-born calves and reared them until 60 calves (representing a full truck load) on average had a live weight of 100 kg before selling them on to finishers. Finishers mainly attained weaners from rearers, or directly from dairy farmers when weaner demand was higher than the supply from rearers. Fast-growing cattle were sent for slaughter before the second winter, and the re-mainder were sent before their third winter. The model finished a higher number of bulls than heifers and steers, although it was 4% lower than the industry reported value. Holstein-Friesian and Holstein-Friesian–Jersey-crossbred cattle dominated the dairy-origin beef finishing system. Jersey cattle account for less than 5% of total processed beef cattle. Further studies to include re-tailer and consumer perspectives and other decision alternatives for finishing farms would im-prove the applicability of the model for decision-making processes.

Keywords: agent-based modelling, dairy cattle, beef finishing, rearers, finishers

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Authors: Zongyan Yang, Gagan K. Jena, Sankar B. Karanam, Noora M. A. Hokal

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Jumeirah First beach, a segment of coastline of length 1.5 km, is one of the popular public beaches in Dubai, UAE. The stability of the beach has been affected by several coastal developmental projects, including The World, Island 2 and La Mer. A comprehensive stabilization scheme comprising of two composite groynes (of lengths 90 m and 125m), modification to the northern breakwater of Jumeirah Fishing Harbour and beach re-nourishment was implemented by Dubai Municipality in 2012. However, the performance of the implemented stabilization scheme has been compromised by La Mer project (built in 2016), which modified the wave climate at the Jumeirah First beach. The objective of the coastal modelling studies is to establish design basis for further beach stabilization scheme(s). Comprehensive coastal modelling studies had been conducted to establish the nearshore wave climate, equilibrium beach orientations and stable beach plan forms. Based on the outcomes of the modeling studies, recommendation had been made to extend the composite groynes to stabilize the Jumeirah First beach. Wave transformation was performed following an interpolation approach with wave transformation matrixes derived from simulations of a possible range of wave conditions in the region. The Dubai coastal wave model is developed with MIKE21 SW. The offshore wave conditions were determined from PERGOS wave data at 4 offshore locations with consideration of the spatial variation. The lateral boundary conditions corresponding to the offshore conditions, at Dubai/Abu Dhabi and Dubai Sharjah borders, were derived with application of LitDrift 1D wave transformation module. The Dubai coastal wave model was calibrated with wave records at monitoring stations operated by Dubai Municipality. The wave transformation matrix approach was validated with nearshore wave measurement at a Dubai Municipality monitoring station in the vicinity of the Jumeirah First beach. One typical year wave time series was transformed to 7 locations in front of the beach to count for the variation of wave conditions which are affected by adjacent and offshore developments. Equilibrium beach orientations were estimated with application of LitDrift by finding the beach orientations with null annual littoral transport at the 7 selected locations. The littoral transport calculation results were compared with beach erosion/accretion quantities estimated from the beach monitoring program (twice a year including bathymetric and topographical surveys). An innovative integral method was developed to outline the stable beach plan forms from the estimated equilibrium beach orientations, with predetermined minimum beach width. The optimal lengths for the composite groyne extensions were recommended based on the stable beach plan forms.

Keywords: composite groyne, equilibrium beach orientation, stable beach plan form, wave transformation matrix

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Authors: M. Stewart, Ameer Al-Khaykan, J. M. Counsell

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Emissions are a consequence of electricity generation. A major option for low carbon generation, local energy systems featuring Combined Heat and Power with solar PV (CHPV) has significant potential to increase energy performance, increase resilience, and offer greater control of local energy prices while complementing the UK’s emissions standards and targets. Recent advances in dynamic modelling and simulation of buildings and clusters of buildings using the IDEAS framework have successfully validated a novel multi-vector (simultaneous control of both heat and electricity) approach to integrating the wide range of primary and secondary plant typical of local energy systems designs including CHP, solar PV, gas boilers, absorption chillers and thermal energy storage, and associated electrical and hot water networks, all operating under a single unified control strategy. Results from this work indicate through simulation that integrated control of thermal storage can have a pivotal role in optimizing system performance well beyond the present expectations. Environmental impact analysis and reporting of all energy systems including CHPV LES presently employ a static annual average carbon emissions intensity for grid supplied electricity. This paper focuses on establishing and validating CHPV environmental performance against conventional emissions values and assessment benchmarks to analyze emissions performance without and with an active thermal store in a notional group of non-domestic buildings. Results of this analysis are presented and discussed in context of performance validation and quantifying the reduced environmental impact of CHPV systems with active energy storage in comparison with conventional LES designs.

Keywords: CHPV, thermal storage, control, dynamic simulation

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Authors: Mahadzirah Mohamad, Nur Izzati Ab Ghani

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Worldwide, tourism sustained growth and remained to be one of the fast-growing sectors. Malaysia tourism industry experienced an unstable and declining pattern of international tourist arrival’s growth rate. The situation suggested that the industry was competitive and denoted the need to study factors that influence tourist loyalty. The primary purpose of this study was to develop a model that examined how destination image, perceived value, service quality and tourist satisfaction affect destination loyalty. The study was conducted at the Kuala Lumpur International Airport and Kota Kinabalu International Airport. The respondents were international tourists from United Kingdom and Australia and they were selected using simple random sampling method. A total of 337 respondents were subjected to data analysis using structural equation modelling. The study uncovered that perceived value and destination image was highly correlated and the model suggested that these constructs should be treated as one construct. The construct was labelled as overall destination image. Overall image had significant direct effect on service quality, satisfaction and loyalty. Service quality had a significant indirect effect on loyalty through satisfaction as a moderating variable. However, satisfaction had no mediating effect on the relationship between overall destination image and loyalty. The study suggested that more efforts should be focused on portraying the image of experiencing joy with many interesting natural scenic places to see whilst on a holiday to Malaysia. In addition, the destination management office should promote tourist visiting to Malaysia would enjoy quality service related to accommodation, information facilities, health, and shopping. Tourist satisfaction empirically proved to be an important construct that influenced destination loyalty. This study contributed to the extended knowledge that postulated overall image of a destination was measured by perceived value and destination image.

Keywords: destination image, destination loyalty, structural equation modelling, tourist satisfaction

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Authors: Nisful Laila, Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum, Achsania Hendratmi

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The purpose of this study is to determine and comparing the level of efficiency of Islamic Banks in Indonesia and United Kingdom during eurozone sovereign debt crisis. This study using a quantitative non-parametric approach with Data Envelopment Analysis (DEA) VRS assumption, and a statistical tool Mann-Whitney U-Test. The samples are 11 Islamic Banks in Indonesia and 4 Islamic Banks in England. This research used mediating approach. Input variable consists of total deposit, asset, and the cost of labour. Output variable consists of financing and profit/loss. This study shows that the efficiency of Islamic Bank in Indonesia and United Kingdom are varied and fluctuated during the observation period. There is no significant different the efficiency performance of Islamic Banks in Indonesia and United Kingdom.

Keywords: data envelopment analysis, efficiency, eurozone crisis, islamic bank

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Authors: Uyen Tran Tu

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The decision on capital structure is one of the most important and sophisticated decisions in financial management in order to improve firm performance. This article would study the two-way impact between capital structure and firm performance. The study use EVIEWS 6.0 software to determine a two-way relationship between the capital structure and firm performance based on two-stage regression (2SLS - Two-Stage Least Squares). The findings are: capital structure has the opposite effect on the business efficiency and vice versa, factors that effect on business efficiency include Size and Opportunities. Factors effects on the capital structure are size; liquidity. These factors also affect the ratio of capital structure (total debt/ total asset) of companies. In particular, liquidity has the opposite effect; and the size of the business has the same impact. The results of the study are in line with the theory and empirical studies presented, and the results of the study are unchanged for all three years 2015-2017.

Keywords: capital structure, firm performance, factors, two-way relationship

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Authors: Mihaja Razafimbelo, Guillaume Herve-Secourgeon, Fabrice Gatuingt, Marina Bottoni, Tulio Honorio-De-Faria

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The challenge of the research is to provide engineering with a robust, semi-automatic method for calculating optimal reinforcement for massive structural elements. In the absence of such a digital post-processing tool, design office engineers make intensive use of plate modelling, for which automatic post-processing is available. Plate models in massive areas, on the other hand, produce conservative results. In addition, the theoretical foundations of automatic post-processing tools for reinforcement are those of reinforced concrete beam sections. As long as there is no suitable alternative for automatic post-processing of plates, optimal modelling and a significant improvement of the constructability of massive areas cannot be expected. A method called strut-and-tie is commonly used in civil engineering, but the result itself remains very subjective to the calculation engineer. The tool developed will facilitate the work of supporting the engineers in their choice of structure. The method implemented consists of defining a ground-structure built on the basis of the main constraints resulting from an elastic analysis of the structure and then to start an optimization of this structure according to the fully stressed design method. The first results allow to obtain a coherent return in the first network of connecting struts and ties, compared to the cases encountered in the literature. The evolution of the tool will then make it possible to adapt the obtained latticework in relation to the cracking states resulting from the loads applied during the life of the structure, cyclic or dynamic loads. In addition, with the constructability constraint, a final result of reinforcement with an orthogonal arrangement with a regulated spacing will be implemented in the tool.

Keywords: strut and tie, optimization, reinforcement, massive structure

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Authors: Iqra Ali

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This study uses panel Vector Auto Regression (VAR) to analyses the dynamic link between banking and insurance activities based on the asset size of the insurance industry for 73 countries between 1980 and 2014. Assets in the insurance industry and banking activities usually have a Granger causal link, according to panel Granger-causality tests. Impulse response analyses for the entire sample show that the size of insurance assets responds favorably to a shock to the liquid liabilities and deposits of the financial system but negatively to a shock to deposit money bank assets and private credit offered by commercial banks, other financial institutions, and deposit banks. While the findings for middle- and low-income nations varied significantly, the observations for high-income countries are essentially the same. Furthermore, we find that there is a substantial interplay between banking and insurance activity in civil law nations as opposed to common law ones.

Keywords: vector autoregression, banking, insurance, Granger-causality

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Authors: Nadarajah I. Ramesh

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Much of the research on stochastic point process models for rainfall has focused on Poisson cluster models constructed from either the Neyman-Scott or Bartlett-Lewis processes. The doubly stochastic Poisson process provides a rich class of point process models, especially for fine-scale rainfall modelling. This paper provides an account of recent development on this topic and presents the results based on some of the fine-scale rainfall models constructed from this class of stochastic point processes. Amongst the literature on stochastic models for rainfall, greater emphasis has been placed on modelling rainfall data recorded at hourly or daily aggregation levels. Stochastic models for sub-hourly rainfall are equally important, as there is a need to reproduce rainfall time series at fine temporal resolutions in some hydrological applications. For example, the study of climate change impacts on hydrology and water management initiatives requires the availability of data at fine temporal resolutions. One approach to generating such rainfall data relies on the combination of an hourly stochastic rainfall simulator, together with a disaggregator making use of downscaling techniques. Recent work on this topic adopted a different approach by developing specialist stochastic point process models for fine-scale rainfall aimed at generating synthetic precipitation time series directly from the proposed stochastic model. One strand of this approach focused on developing a class of doubly stochastic Poisson process (DSPP) models for fine-scale rainfall to analyse data collected in the form of rainfall bucket tip time series. In this context, the arrival pattern of rain gauge bucket tip times N(t) is viewed as a DSPP whose rate of occurrence varies according to an unobserved finite state irreducible Markov process X(t). Since the likelihood function of this process can be obtained, by conditioning on the underlying Markov process X(t), the models were fitted with maximum likelihood methods. The proposed models were applied directly to the raw data collected by tipping-bucket rain gauges, thus avoiding the need to convert tip-times to rainfall depths prior to fitting the models. One advantage of this approach was that the use of maximum likelihood methods enables a more straightforward estimation of parameter uncertainty and comparison of sub-models of interest. Another strand of this approach employed the DSPP model for the arrivals of rain cells and attached a pulse or a cluster of pulses to each rain cell. Different mechanisms for the pattern of the pulse process were used to construct variants of this model. We present the results of these models when they were fitted to hourly and sub-hourly rainfall data. The results of our analysis suggest that the proposed class of stochastic models is capable of reproducing the fine-scale structure of the rainfall process, and hence provides a useful tool in hydrological modelling.

Keywords: fine-scale rainfall, maximum likelihood, point process, stochastic model

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Authors: Uche A. Nnawulezi

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Over the past decades, the acquisition and utilization of nuclear energy have remained a standout amongst the most intractable issues which past world leaders have unsuccessfully endeavored to grapple with. This study analyzes the present advancement and enactment on the acquisition and utilization of nuclear energy in contemporary international law. It seeks to address international co-operations in the field of nuclear energy by looking at what nuclear energy is all about and how it came into being. It also seeks to address concerns expressed by a few researchers on the position of nuclear law in the most extensive domain of the law by looking at the authoritative procedure for nuclear law, system of arrangements and traditions. This study also agrees in favour of treaty on non-proliferation of nuclear weapons based on human right and humanitarian principles that are not duly moral, but also legal ones. Specifically, the past development activities on nuclear weapon and the practical system of the nuclear energy institute will be inspected. The study noted among others, former president Obama's remark on nuclear energy and Pakistan nuclear policies and its attendant outcomes. Essentially, we depended on documentary evidence and henceforth scooped a great part of the data from secondary sources. The study emphatically advocates for the adoption of absolute liability principles and setting up of a viability trust fund, all of which will help in sustaining global peace where global best practices in acquisition and use of nuclear energy will be widely accepted in the contemporary international law. Essentially, the fundamental proposals made in this paper if completely adopted, might go far in fortifying the present advancement and enactment on the application and utilization of nuclear energy and accordingly, addressing a portion of the intractable issues under international law.

Keywords: nuclear energy, international law, acquisition, development

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Authors: Laura Josabeth Oros-Avilés, Josefina León-León

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In recent decades, the concern of the monetary authorities has increased because of the instability of the financial sector caused by the crash of speculative bubbles. In fact, the crash of "housing bubble" in U.S. (2007-2008) led the latest global crisis. The aim of paper is to analyze the features and causes of the financial and banking crisis from an historical view. In particular, in this research, a comparative study of some analytical approaches about economic and financial history is discussed. In addition, the role of monetary policy of central banks in managing financial crises, from its origins to today, is analyzed. According to the studied approaches, two types of factors that cause the financial instability were identified: subjective and objectives. In the research, these factors are deeply discussed, in order to noting the agreements and disagreement between the authors. Specially, it is worth noting that all of them recognized that the credit boom and the financial deregulation are the main causes of financial crises.

Keywords: asset prices, banking crises, financial bubble, financial instability, monetary policy

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Authors: Martin Grootveld, Benita Percival, Sarah Moumtaz, Kerry L. Grootveld

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Objectives/Hypotheses: The adverse health effect potential of dietary lipid oxidation products (LOPs) has evoked much clinical interest. Therefore, we employed a ¹H NMR-linked Principal Component Regression (PCR) chemometrics modelling strategy to explore relationships between data matrices comprising (1) aldehydic LOP concentrations generated in culinary oils/fats when exposed to laboratory-simulated shallow frying practices, and (2) the prior saturated (SFA), monounsaturated (MUFA) and polyunsaturated fatty acid (PUFA) contents of such frying media (FM), together with their heating time-points at a standard frying temperature (180 ^oC). Methods: Corn, sunflower, extra virgin olive, rapeseed, linseed, canola, coconut and MUFA-rich algae frying oils, together with butter and lard, were heated according to laboratory-simulated shallow-frying episodes at 180 ^oC, and FM samples were collected at time-points of 0, 5, 10, 20, 30, 60, and 90 min. (n = 6 replicates per sample). Aldehydes were determined by ¹H NMR analysis (Bruker AV 400 MHz spectrometer). The first (dependent output variable) PCR data matrix comprised aldehyde concentration scores vectors (PC1* and PC2*), whilst the second (predictor) one incorporated those from the fatty acid content/heating time variables (PC1-PC4) and their first-order interactions. Results: Structurally complex trans,trans- and cis,trans-alka-2,4-dienals, 4,5-epxy-trans-2-alkenals and 4-hydroxy-/4-hydroperoxy-trans-2-alkenals (group I aldehydes predominantly arising from PUFA peroxidation) strongly and positively loaded on PC1*, whereas n-alkanals and trans-2-alkenals (group II aldehydes derived from both MUFA and PUFA hydroperoxides) strongly and positively loaded on PC2*. PCR analysis of these scores vectors (SVs) demonstrated that PCs 1 (positively-loaded linoleoylglycerols and [linoleoylglycerol]:[SFA] content ratio), 2 (positively-loaded oleoylglycerols and negatively-loaded SFAs), 3 (positively-loaded linolenoylglycerols and [PUFA]:[SFA] content ratios), and 4 (exclusively orthogonal sampling time-points) all powerfully contributed to aldehydic PC1* SVs (p 10^-3 to < 10^-9), as did all PC1-3 x PC4 interaction ones (p 10^-5 to < 10^-9). PC2* was also markedly dependent on all the above PC SVs (PC2 > PC1 and PC3), and the interactions of PC1 and PC2 with PC4 (p < 10^-9 in each case), but not the PC3 x PC4 contribution. Conclusions: NMR-linked PCR analysis is a valuable strategy for (1) modelling the generation of aldehydic LOPs in heated cooking oils and other FM, and (2) tracking their unsaturated fatty acid (UFA) triacylglycerol sources therein.

Keywords: frying oils, lipid oxidation products, frying episodes, chemometrics, principal component regression, NMR Analysis, cytotoxic/genotoxic aldehydes

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Authors: Maciej Zaręba, Sławomir Lasota

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The monitoring of manufacturing processes is an important issue in nowadays ERP systems. The identification and analysis of appropriate data for the units that take part in the production process are ones of the most crucial problems. In this paper, the authors introduce a new approach towards modelling the relation between production units, signals, and factors possible to obtain from the production system. The main idea for the system is based on the ontology of production units.

Keywords: manufacturing operation management, OWL, ontology implementation, ontology modeling

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Authors: Hien Thi Dieu Truong, Mahmoud Al-Sarayreh, Pullanagari Reddy, Marlon M. Reis, Richard Archer

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New Zealand mānuka honey is a honeybee product derived mainly from Leptospermum scoparium nectar. The potent antibacterial activity of mānuka honey derives principally from methylglyoxal (MGO), in addition to the hydrogen peroxide and other lesser activities present in all honey. MGO is formed from dihydroxyacetone (DHA) unique to L. scoparium nectar. Mānuka honey also has an idiosyncratic phenolic profile that is useful as a chemical maker. Authentic mānuka honey is highly valuable, but almost all honey is formed from natural mixtures of nectars harvested by a hive over a time period. Once diluted by other nectars, mānuka honey irrevocably loses value. We aimed to apply hyperspectral imaging to honey frames before bulk extraction to minimise the dilution of genuine mānuka by other honey and ensure authenticity at the source. This technology is non-destructive and suitable for an industrial setting. Chemometrics using linear Partial Least Squares (PLS) and Support Vector Machine (SVM) showed limited efficacy in interpreting chemical footprints due to large non-linear relationships between predictor and predictand in a large sample set, likely due to honey quality variability across geographic regions. Therefore, an advanced modelling approach, one-dimensional convolutional neural networks (1D-CNN), was investigated for analysing hyperspectral data for extraction of biochemical information from honey. The 1D-CNN model showed superior prediction of honey quality (R² = 0.73, RMSE = 2.346, RPD= 2.56) to PLS (R² = 0.66, RMSE = 2.607, RPD= 1.91) and SVM (R² = 0.67, RMSE = 2.559, RPD=1.98). Classification of mono-floral manuka honey from multi-floral and non-manuka honey exceeded 90% accuracy for all models tried. Overall, this study reveals the potential of HSI and deep learning modelling for automating the evaluation of honey quality in frames.

Keywords: mānuka honey, quality, purity, potency, deep learning, 1D-CNN, chemometrics

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Authors: Inga Badasyan

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Every year we do monitoring of water pollution of catchment basin of Debed River. Next, the Ministry of Nature Protection does modeling programme. Finely, we are managing the impact of water pollution in Debed river. Ecosystem technologies efficiency performance were estimated based on the physical, chemical, and macrobiological analyses of water on regular base between 2012 to 2015. Algae community composition was determined to assess the ecological status of Debed river, while vegetation was determined to assess biodiversity. Last time, experts werespeaking about global warming, which is having bad impact on the surface water, freshwater, etc. As, we know that global warming is caused by the current high levels of carbon dioxide in the water. Geochemical modelling is increasingly playing an important role in various areas of hydro sciences and earth sciences. Geochemical modelling of highly concentrated aqueous solutions represents an important topic in the study of many environments such as evaporation ponds, groundwater and soils in arid and semi-arid zones, costal aquifers, etc. The sampling time is important for benthic macroinvertebrates, for that reason we have chosen in the spring (abundant flow of the river, the beginning of the vegetation season) and autumn (the flow of river is scarce). The macroinvertebrates are good indicator for a chromic pollution and aquatic ecosystems. Results of our earlier investigations in the Debed river reservoirs clearly show that management problem of ecosystem reservoirs is topical. Research results can be applied to studies of monitoring water quality in the rivers and allow for rate changes and to predict possible future changes in the nature of the lake.

Keywords: ecohydrological monitoring, flood risk management, global warming, aquatic macroinvertebrates

Procedia PDF Downloads 288

Authors: Pontus Backstrom

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In the educational literature on peer effects, attention has been brought to the fact that the mechanisms creating peer effects are still to a large extent hidden in obscurity. The hypothesis in this study is that the Frame Factor Theory can be used to explain these mechanisms. At heart of the theory is the concept of “time needed” for students to learn a certain curricula unit. The relations between class-aggregated time needed and the actual time available, steers and hinders the actions possible for the teacher. Further, the theory predicts that the timing and pacing of the teachers’ instruction is governed by a “criterion steering group” (CSG), namely the pupils in the 10th-25th percentile of the aptitude distribution in class. The class composition hereby set the possibilities and limitations for instruction, creating peer effects on individual outcomes. To test if the theory can be applied to the issue of peer effects, the study employs multilevel structural equation modelling (M-SEM) on Swedish TIMSS 2015-data (Trends in International Mathematics and Science Study; students N=4090, teachers N=200). Using confirmatory factor analysis (CFA) in the SEM-framework in MPLUS, latent variables are specified according to the theory, such as “limitations of instruction” from TIMSS survey items. The results indicate a good model fit to data of the measurement model. Research is still in progress, but preliminary results from initial M-SEM-models verify a strong relation between the mean level of the CSG and the latent variable of limitations on instruction, a variable which in turn have a great impact on individual students’ test results. Further analysis is required, but so far the analysis indicates a confirmation of the predictions derived from the frame factor theory and reveals that one of the important mechanisms creating peer effects in student outcomes is the effect the class composition has upon the teachers’ instruction in class.

Keywords: compositional effects, frame factor theory, peer effects, structural equation modelling

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Authors: Aditya Sharma

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Profits earned from relative strength strategy of zero-cost portfolio i.e. taking long position in winner stocks and short position in loser stocks from recent past are termed as momentum profits. In recent times, there has been lot of controversy and concern about sources of momentum profits, since the existence of these profits acts as an evidence of earning non-normal returns from publicly available information directly contradicting Efficient Market Hypothesis. Literature review reveals conflicting theories and differing evidences on sources of momentum profits. This paper aims at re-examining the sources of momentum profits in Indian capital markets. The study focuses on assessing the effect of fundamental as well as behavioral sources in order to understand the role of investor behavior in stock returns and suggest (if any) improvements to existing behavioral asset pricing models. This Paper adopts calendar time methodology to calculate momentum profits for 6 different strategies with and without skipping a month between ranking and holding period. For each J/K strategy, under this methodology, at the beginning of each month t stocks are ranked on past j month’s average returns and sorted in descending order. Stocks in upper decile are termed winners and bottom decile as losers. After ranking long and short positions are taken in winner and loser stocks respectively and both portfolios are held for next k months, in such manner that at any given point of time we have K overlapping long and short portfolios each, ranked from t-1 month to t-K month. At the end of period, returns of both long and short portfolios are calculated by taking equally weighted average across all months. Long minus short returns (LMS) are momentum profits for each strategy. Post testing for momentum profits, to study the role market risk plays in momentum profits, CAPM and Fama French three factor model adjusted LMS returns are calculated. In the final phase of studying sources, decomposing methodology has been used for breaking up the profits into unconditional means, serial correlations, and cross-serial correlations. This methodology is unbiased, can be used with the decile-based methodology and helps to test the effect of behavioral and fundamental sources altogether. From all the analysis, it was found that momentum profits do exist in Indian capital markets with market risk playing little role in defining them. Also, it was observed that though momentum profits have multiple sources (risk, serial correlations, and cross-serial correlations), cross-serial correlations plays a major role in defining these profits. The study revealed that momentum profits do have multiple sources however, cross-serial correlations i.e. the effect of returns of other stocks play a major role. This means that in addition to studying the investors` reactions to the information of the same firm it is also important to study how they react to the information of other firms. The analysis confirms that investor behavior does play an important role in stock returns and incorporating both the aspects of investors’ reactions in behavioral asset pricing models help make then better.

Keywords: investor behavior, momentum effect, sources of momentum, stock returns

Procedia PDF Downloads 304