Search results for: probability of return

Authors: Y. Galerkin, A. Rekstin, K. Soldatova

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Universal modeling method well proven for industrial compressors was applied for design of the high flow rate supersonic stage. Results were checked by ANSYS CFX and NUMECA Fine Turbo calculations. The impeller appeared to be very effective at transonic flow velocities. Stator elements efficiency is acceptable at design Mach numbers too. Their loss coefficient versus inlet flow angle performances correlates well with Universal modeling prediction. The impeller demonstrated ability of satisfactory operation at design flow rate. Supersonic flow behavior in the impeller inducer at the shroud blade to blade surface Φdes deserves additional study.

Keywords: centrifugal compressor stage, supersonic impeller, inlet flow angle, loss coefficient, return channel, shock wave, vane diffuser

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Authors: Yousef Abu Nahleh, Arun Kumar, Fugen Daver, Reham Al-Hindawi

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Despite the availability of natural disaster related time series data for last 110 years, there is no forecasting tool available to humanitarian relief organizations to determine forecasts for emergency logistics planning. This study develops a forecasting tool based on identifying probability of disaster for each country in the world by using decision tree modeling. Further, the determination of aggregate forecasts leads to efficient pre-disaster planning. Based on the research findings, the relief agencies can optimize the various resources allocation in emergency logistics planning.

Keywords: decision tree modeling, forecasting, humanitarian relief, emergency supply chain

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Authors: Dilek Bilgiç

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Configuration Management (CM) is a discipline assuring the consistency between product information the reality all along the product lifecycle. Although the extensive benefits of this discipline, such as the direct impact on increasing return on investment, reducing lifecycle costs, are realized by most organizations. It is worth evaluating that CM functions might be successfully implemented in some organized anarchies. This paper investigates how to manage ambiguity in CM processes as an opportunity within an environment that has different types of complexities and choice arenas. It is not explained how to establish a configuration management organization in a company; more specifically, it is analyzed how to apply configuration management processes when different types of streams exist. From planning to audit, all the CM functions may provide different organization learning opportunities when those applied with the right leadership methods.

Keywords: configuration management, leadership, organizational analysis, organized anarchy, cm process, organizational learning, organizational maturity, configuration status accounting, leading innovation, change management

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Authors: Alexandru-Ion Marinescu

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There exist a plethora of methods in the scientific literature which tackle the well-established task of credit score evaluation. In its most abstract form, a credit scoring algorithm takes as input several credit applicant properties, such as age, marital status, employment status, loan duration, etc. and must output a binary response variable (i.e. “GOOD” or “BAD”) stating whether the client is susceptible to payment return delays. Data imbalance is a common occurrence among financial institution databases, with the majority being classified as “GOOD” clients (clients that respect the loan return calendar) alongside a small percentage of “BAD” clients. But it is the “BAD” clients we are interested in since accurately predicting their behavior is crucial in preventing unwanted loss for loan providers. We add to this whole context the constraint that the algorithm must yield an actual, tractable mathematical formula, which is friendlier towards financial analysts. To this end, we have turned to genetic algorithms and genetic programming, aiming to evolve actual mathematical expressions using specially tailored mutation and crossover operators. As far as data representation is concerned, we employ a very flexible mechanism – LINQ expression trees, readily available in the C# programming language, enabling us to construct executable pieces of code at runtime. As the title implies, they model trees, with intermediate nodes being operators (addition, subtraction, multiplication, division) or mathematical functions (sin, cos, abs, round, etc.) and leaf nodes storing either constants or variables. There is a one-to-one correspondence between the client properties and the formula variables. The mutation and crossover operators work on a flattened version of the tree, obtained via a pre-order traversal. A consequence of our chosen technique is that we can identify and discard client properties which do not take part in the final score evaluation, effectively acting as a dimensionality reduction scheme. We compare ourselves with state of the art approaches, such as support vector machines, Bayesian networks, and extreme learning machines, to name a few. The data sets we benchmark against amount to a total of 8, of which we mention the well-known Australian credit and German credit data sets, and the performance indicators are the following: percentage correctly classified, area under curve, partial Gini index, H-measure, Brier score and Kolmogorov-Smirnov statistic, respectively. Finally, we obtain encouraging results, which, although placing us in the lower half of the hierarchy, drive us to further refine the algorithm.

Keywords: expression trees, financial credit scoring, genetic algorithm, genetic programming, symbolic evolution

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Authors: Weixing Tan

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Production of nutraceuticals from microalgae—a virtually untapped natural phyto-based source of which there are 200,000 to 1,000,000 species—offers a sustainable and healthy alternative to conventionally sourced nutraceuticals for the market. Microalgae can be grown organically using only natural sunlight, water and nutrients at an extremely fast rate, e.g. 10-100 times more efficiently than crops or trees. However, the commercial success of microalgae products at scale remains limited largely due to the lack of economically viable technologies. There are two major microalgae production systems or technologies currently available: 1) the open system as represented by open pond technology and 2) the closed system such as photobioreactors (PBR). Each carries its own unique features and challenges. Although an open system requires a lower initial capital investment relative to a PBR, it conveys many unavoidable drawbacks; for example, much lower productivity, difficulty in contamination control/cleaning, inconsistent product quality, inconvenience in automation, restriction in location selection, and unsuitability for cold areas – all directly linked to the system openness and flat underground design. On the other hand, a PBR system has characteristics almost entirely opposite to the open system, such as higher initial capital investment, better productivity, better contamination and environmental control, wider suitability in different climates, ease in automation, higher and consistent product quality, higher energy demand (particularly if using artificial lights), and variable operational expenses if not automated. Although closed systems like PBRs are not highly competitive yet in current nutraceutical supply market, technological advances can be made, in particular for the PBR technology, to narrow the gap significantly. One example is a readily scalable P2P Microalgae PBR Technology at Grande Prairie Regional College, Canada, developed over 11 years considering return on investment (ROI) for key production processes. The P2P PBR system is approaching economic viability at a pre-commercial stage due to five ROI-integrated major components. They include: (1) optimum use of free sunlight through attenuation (patented); (2) simple, economical, and chemical-free harvesting (patent ready to file); (3) optimum pH- and nutrient-balanced culture medium (published), (4) reliable water and nutrient recycling system (trade secret); and (5) low-cost automated system design (trade secret). These innovations have allowed P2P Microalgae Technology to increase daily yield to 106 g/m2/day of Chlorella vulgaris, which contains 50% proteins and 2-3% omega-3. Based on the current market prices and scale-up factors, this P2P PBR system presents as a promising microalgae technology for market competitive nutraceutical supply.

Keywords: microalgae technology, nutraceuticals, open pond, photobioreactor PBR, return on investment ROI, technological advances

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Authors: Rosyidah, Permata Wulandari

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We investigate the price effect of addition and deletions from the Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). Using event study methodology, we measure abnormal returns for firms over the period June 2019 - to December 2021. Through the sample of 107 additions and 95 deletions, we find evidence to support the theory of Muslim country investment behavior. We find that additions to the Islamic index led to a significant positive stock market reaction and deletions to the Islamic index led to a negative stock market reaction on Jakarta Islamic Index (JII) and there is no significant reaction of addition and deletion on Indonesia Sharia Stock Index (ISSI).

Keywords: abnormal return, abnormal volume, event study, index changes, sharia index

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Authors: Thi Thao Nguyen, Andrew McLennan, Shino Takayama

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We study the probabilistic allocation of finitely many indivisible objects to finitely many agents. Well known allocation rules for this problem include random priority, the market mechanism proposed by Hylland and Zeckhauser [1979], and the probabilistic serial rule of Bogomolnaia and Moulin [2001]. We propose a new allocation rule, which we call the lexico-graphic (serial) rule, that is tailored for situations in which each agent's primary concern is to maximize the probability of receiving her favourite object. Three axioms, lex efficiency, lex envy freeness and fairness, are proposed and fully characterize the lexicographic serial rule. We also discuss how our axioms and the lexicographic rule are related to other allocation rules, particularly the probabilistic serial rule.

Keywords: Efficiency, Envy free, Lexicographic, Probabilistic Serial Rule

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Authors: Christo Februanto Putra

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This paper presents risk identification that affects investment feasibility on toll road infrastructure in Indonesia using qualitative methods survey based on the expert practitioner in investor, contractor, and state officials. The problems on infrastructure investment in Indonesia, especially on KPBU model contract, is many risk factors in the investment plan is not calculated in detail thoroughly. Risk factor is a value used to provide an overview of the risk level assessment of an event which is a function of the probability of the occurrence and the consequences of the risks that arise. As results of the survey which is to show which risk factors impacts directly to the investment feasibility and rank them by their impacts on the investment.

Keywords: risk identification, indonesia toll road, investment feasibility

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Authors: Neeraj G. Nahata, K. S. Bhagat

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Microstrip patch antenna widely used in communication area because it offers low profile, narrow bandwidth, high gain, and compact in size. It has big disadvantage of narrow bandwidth. To improve the bandwidth a W-slot technique is used, it is efficient to enhance the bandwidth of antenna. The feeding point of antenna is very important for efficient operation, so coaxial feeding technique is applied to microstrip patch antenna for impedance matching. A broadband W-slot microstrip patch antenna is designed successfully which attains a bandwidth of 22.74% at 10dB return loss with centre frequency of 4.5GHz and also it attains maximum directivity 8.78dBi. It is designed by cutting a W-slot into the patch of antenna, because of this resonant slot, the antenna gives broad bandwidth. This antenna is best suitable for C-band frequency spectrum. The proposed antenna is designed and simulated using IE3D software.

Keywords: broadband, microstrip antenna, VSWR, W-slotted patch

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Authors: Yang Jiayue, Liang Junwen

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Case interviews with 12 mothers of hearing-impaired children in Beijing found that families with hard-of-hearing children make all-out efforts for rescue and rehabilitation until they exhaust family resources, they travel to work places, homes, and rehabilitation institutions every day, and social relations gradually shrink inward. In the stigmatized social environment, children with hearing impairment find it difficult to integrate into regular communication and gradually return to a silent world; their parents also suffer from social discrimination and affiliate stigma, and they gradually reduce contact with others. Finally, families with hearing-impaired children become invisible people in society; the "deafness" of children leads families to "loss of voice."

Keywords: family with hearing-impaired children, social retreat, social exclusion, stigma

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Authors: Rosie S. Abalos, John Patrick M. Dizon

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The operation of fish cages in mariculture parks for milkfish production remains a lucrative business for aquaculture operators. Three areas in the Philippines where mariculture parks are still in active operation were identified as study sites for this research. Financial analysis was used to estimate profitability of mariculture operations in the selected study sites. Based on the result of this research, milkfish production in mariculture parks remains profitable both in terms of net profit generation and the return on investment. To improve the profitability of aquaculture operations in mariculture parks, the relatively high price of operational inputs should be managed. As a recommendation, further studies should be conducted on the profitability of aquaculture operations in mariculture parks in the country to include other factors which may cause losses on the part of the operator and factors that may affect price of produce upon harvest.

Keywords: mariculture parks, milkfish production, aquaculture, profitability

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Authors: Yaprak Aydin

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The rural is no longer a space of only agricultural activities that gave into the global market demands; or an idyll to return after retirement; or only a reservoir of cultural values, but rather a vision to redefine the future in terms of production and consumption relations. Gulpınar in Turkey and Ashtarak in Armenia are two towns where a new ground of dialogue between two communities has been initiated: ‘energy democracy’, which is a significant driving force in a sense of gathering people of two historically conflicted communities around common future concerns; and in a sense of transforming the accepted knowledge on the rurality and all the social structures it represents. This paper seeks to provoke a discussion of to what extent such a rurality is attainable by contextualizing – through visits and meetings in person – two towns and two communities within a renewable energy project called 'Under the Same Sun' carried out by two local civil society organizations together at two public spaces.

Keywords: civil society, energy democracy, prosumer communities, renewable energy, transnational rurality

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Authors: Maria F. Seran

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In second language interaction, an EFL student always carries his knowledge of targeted language and sometimes gets influenced by his first language cultures which makes him transfer his utterances from the first language to the second language. The influence of L1 cultures somehow can lead to face-threatening act when it comes to responding on speech act, for instance, compliment. A speaker praises a compliment to show gratitude, and in return, he expects for compliment respond uttered by the hearer. While Western people use more acceptance continuum on compliment response, Indonesians utter more denial continuum which can somehow put the speakers into a face-threating situation and offense. This study investigated compliment response employed by EFL students and English native speakers. The study was distinct as none compliment response studies had been conducted to compare the compliment response between English native speakers and two different Indonesian EFL proficiency groups in which this research sought to meet this need. This study was significant for EFL teachers because it gave insight on cross-cultural understanding and brought pedagogical implication on explicit pragmatic instruction. Two research questions were set, 1. How do Indonesian EFL students and English native speakers respond compliments? 2. Is there any correlation between Indonesia EFL students’ proficiency and their compliment response use in English? The study involved three groups of participants; 5 English native speakers, 10 high-proficiency and 10 low-proficiency Indonesian EFL university students. The research instruments used in this study were as follows, an online TOEFL prediction test, focusing on grammar skill which was modified from Barron TOEFL exercise test, and a discourse completion task (DCT), consisting of 10 compliment respond items. Based on the research invitation, 20 second-year university students majoring in English education at Widya Mandira Catholic University, Kupang, East Nusa Tenggara, Indonesia who willingly participated in the research took the TOEFL prediction test online from the link provided. Students who achieved score 75-100 in test were categorized as high-proficiency students, while, students who attained score below 74 were considered as low-proficiency students. Then, the DCT survey was administered to these EFL groups and the native speaker group. Participants’ responses were coded and analyzed using categories of compliment response framework proposed by Tran. The study found out that 5 native speakers applied more compliment upgrades and appreciation token in compliment response, whereas, Indonesian EFL students combined some compliment response strategies in their utterance, such as, appreciation token, return and compliment downgrade. There is no correlation between students’ proficiency level and their CR responds as most EFL students in both groups produced less varied compliment responses and only 4 Indonesian high-proficiency students uttered more varied and were similar to the native speakers. The combination strategies used by EFL students can be explained as the influence of pragmatic transfer from L1 to L2; therefore, EFL teachers should explicitly teach more compliment response strategies to raise students’ awareness on English culture and elaborate their speaking to be more competence as close to native speakers as possible.

Keywords: compliment response, English native speakers, Indonesian EFL students, speech acts

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Authors: Khaled Sellami, Lynda Sellami, Pierre F. Tiako

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Ubiquitous computing helps make data and services available to users anytime and anywhere. This makes the cooperation of devices a crucial need. In return, such cooperation causes an overload of the devices and/or networks, resulting in network malfunction and suspension of its activities. Our goal in this paper is to propose an approach of devices reconfiguration in order to help to reduce the energy consumption in ubiquitous environments. The idea is that when high-energy consumption is detected, we proceed to a change in component distribution on the devices to reduce and/or balance the energy consumption. We also investigate the possibility to detect high-energy consumption of devices/network based on devices abilities. As a result, our idea realizes a reconfiguration of devices aimed at reducing the consumption of energy and/or load balancing in ubiquitous environments.

Keywords: ubiquitous computing, load balancing, device energy consumption, reconfiguration

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Authors: Jessica Ordoñez, Francisco Ochoa, Pascual García

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The objective of this paper is to analyze the relationship between return migration in Ecuador and economic growth. The improvement of macroeconomic conditions in Latin America, starting in 2012, makes the region a new migratory destination, in both senses in north-south and south-south flows. Current studies highlight only the role of the entrepreneurial migrant in generating employment and economic growth in the region. Nevertheless, it has not been considered that not all migrants are entrepreneurs and that not all entrepreneurs contribute to economic growth. This research compares the socioeconomic and labor characteristics of migrant returnees working as freelancers in Ecuador. The principal aim is to demystify the role of migrant entrepreneurs in regional growth and to identify socioeconomic characteristics that can enhance growth. A panel econometric model was used, which is part of the information from labor and macroeconomic surveys.

Keywords: economic growth, entrepreneur, migration, returned migration

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Authors: Li-hsing Shih, Wei-Jen Hsu

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Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

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Authors: Amit Kumar Dwivedi, Priyanko Ghosh

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Data Envelopment analysis (DEA) has been used to calculate the technical and scale efficiency measures of the public and private sugar manufacturing firms of the Indian Sugar Industry (2006 to 2010). Within DEA framework, the input & Output oriented Variable Returns to Scale (VRS) & Constant Return to Scale (CRS) model is employed for the study of Decision making units (DMUs). A representative sample of 43 firms which account for major portion of the total market share is studied. The selection criterion for the inclusion of a firm in the analysis was the total sales of INR 5,000 million or more in the year 2010. After reviewing the literature it is found that no study has been conducted in the context of Indian sugar manufacturing firms in the Post-liberalization era which motivates us to initiate the study.

Keywords: technical efficiency, Indian sugar manufacturing units, DEA, input output oriented

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Authors: Badar Muneer, Waseem Shabir, Faisal Karim Shaikh

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Substrate Integrated waveguide based 6-element array of Planar Inverted F antenna (PIFA) has been presented and analyzed parametrically in this paper. The antenna is fed with coupled transverse slots on a plate laminated waveguide cavity to ensure wide bandwidth and simplicity of feeding network. The two-layer structure has one layer dedicated for feeding network and the top layer dedicated for radiating elements. It has been demonstrated that the presented feeding technique for feeding such class of array antennas can be far simple in structure and miniaturized in size when it comes to designing large phased array antenna systems. A good return loss and standing wave ratio of 2:1 has been achieved while maintaining properties of typical PIFA.

Keywords: feeding network, laminated waveguide, PIFA, transverse slots

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Authors: Jamison Duckworth, Shankarachary Ragi

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Detection and segmentation of wildfire smoke plumes from remote sensing imagery are being pursued as a solution for early fire detection and response. Smoke plume detection can be automated and made robust by the application of artificial intelligence methods. Specifically, in this study, the deep learning approach Mask Region-based Convolutional Neural Network (RCNN) is being proposed to learn smoke patterns across different spectral bands. This method is proposed to separate the smoke regions from the background and return masks placed over the smoke plumes. Multispectral data was acquired using NASA’s Earthdata and WorldView and services and satellite imagery. Due to the use of multispectral bands along with the three visual bands, we show that Mask R-CNN can be applied to distinguish smoke plumes from clouds and other landscape features that resemble smoke.

Keywords: deep learning, mask-RCNN, smoke plumes, spectral bands

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Authors: Maulik Parmar, Sumeet Sandhu

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The online fashion industry experiences high product return rates. Many returns are because of size/fit mismatches -the size scale on labels can vary across brands, the size parameters may not capture all fit measurements, or the product may have manufacturing defects. Warehouse quality check of garment sizes can be semi-automated to improve speed and accuracy. This paper presents an approach for automatically measuring garment sizes from a single image of the garment -using Deep Learning to learn garment keypoints. The paper focuses on the waist size measurement of jeans and can be easily extended to other garment types and measurements. Experimental results show that this approach can greatly improve the speed and accuracy of today’s manual measurement process.

Keywords: convolutional neural networks, deep learning, distortion, garment measurements, image warping, keypoints

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Authors: Khachatur V. Nerkararyan, Sergey I. Bozhevolnyi

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We investigate relaxation dynamics of a quantum dipole emitter (QDE), e.g., a molecule or quantum dot, located near a metal nanoparticle (MNP) exhibiting a dipolar localized surface plasmon (LSP) resonance at the frequency of the QDE radiative transition. It is shown that under the condition of the QDE-MNP characteristic relaxation time being much shorter than that of the QDE in free-space but much longer than the LSP lifetime. It is also shown that energy dissipation in the QDE-MNP system is relatively weak with the probability of the photon emission being about 0.75, a number which, rather surprisingly, does not explicitly depend on the metal absorption characteristics. The degree of entanglement measured by the concurrency takes the maximum value, while the distances between the QDEs and metal ball approximately are equal.

Keywords: metal nanoparticle, localized surface plasmon, quantum dipole emitter, relaxation dynamics

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Authors: Uche A. Ibekwe

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Pension funds are pooled assets which are established to provide income for retirees. The funds are usually regulated to check excessive risk taking by fund managers. In Nigeria, the current defined contribution (DC) pension scheme appears to contain some overly stringent restrictions which might be hampering its successful implementation. Notable among these restrictions is the 25 percent maximum limit on investment in ordinary shares of quoted companies. This paper examines the extent to which these restrictions affect pension replacement rates at retirement. The study made use of both simulated and historical asset return distributions using mean-variance, regression analysis and ruin-risk analyses, the study found that the current equity investment restriction policy in Nigeria reduces replacement rates at retirement.

Keywords: equity investment, replacement rates, restrictions, ruin-risk

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Authors: Charles Mothobiso

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This study attempts to identify the client’s main priority when delivering green projects. The aim is to compare whether clients’ interests are similar when delivering conventional buildings as compared to green buildings. Private clients invest more in green buildings as compared to government and parastatal entities. Private clients prioritize on maximizing a return on investment and they mainly invest in energy-saving buildings that have low life cycle costs. Private clients are perceived to be more knowledgeable about the benefits of green building projects as compared to government and parastatal clients. A shortage of expertise and managerial skill leads to the low adaptation of green buildings in government and parastatal projects. Other factors that seem to prevent the adoption of green buildings are the preparedness of the supply chain within the industry and inappropriate procurement strategies adopted by clients.

Keywords: construction clients, design team, green buildings, procurement

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Authors: Jyothirmayee Pola

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Ideally, a test-driven development (TDD) or agile or any other process should be able to define and implement performance, scalability, and reliability (PSR) of the product with a higher quality of service (QOS) and should have the ability to fix any PSR issues with lesser cost before it hits the production. Most PSR test strategies for new product introduction (NPI) include assumptions about production load requirements but never accurate. NPE (New product Enhancement) include assumptions for new features that are being developed whilst workload distribution for older features can be derived by analyzing production transactions. This paper talks about how to shift left PSR towards design phase of release management process to get better QOS w.r.t PSR for any product under development. It also explains the ROI for future customer onboarding both for Service Oriented Architectures (SOA) and Microservices architectures and how to define PSR requirements.

Keywords: component PSR, performance engineering, performance tuning, reliability, return on investment, scalability, system PSR

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Authors: Luke McGowan, David Pickernell, Martini Battisti

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In this paper, Adversity Triggers were explored through the lens of Organisational Resilience. Adversity Triggers are contextualized by temporal factors, thus, naturally aligning to Resilience literature. Resilience has been chosen as the theoretical framework as risk management approaches are often not geared towards providing meaningful responses to high-impact, low-probability events. Adversity Triggers and Organisational Resilience both consider temporal factors which enabled investigation of each phase of recovery. A systematic literature was employed to assess previous literature and define further areas of research. The systematic literature review method was chosen to catalogue and identify gaps in current literature.

Keywords: adversity triggers, crisis, extreme events, organisational resilience, resilience

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Authors: Rashmi Uchil, A. H. Sequeira

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Post-liberalization era in India has seen an unprecedented growth of mergers, both domestic as well as cross-border deals. Indian organizations have slowly begun appreciating this inorganic method of growth. However, all is not well as is evidenced in the lowering value creation of organizations after mergers. Several studies have identified that organizational culture is one of the key factors that affects the success of mergers. But very few studies have been attempted in this realm in India. The current study attempts to identify the factors in the organizational culture variable that may be unique to India. It also focuses on the difference in the impact of organizational culture on merger of organizations in the manufacturing and service sectors in India. The study uses a mixed research approach. An exploratory research approach is adopted to identify the variables that constitute organizational culture specifically in the Indian scenario. A few hypotheses were developed from the identified variables and tested to arrive at the Grounded Theory. The Grounded Theory approach used in the study, attempts to integrate the variables related to organizational culture. Descriptive approach is used to validate the developed grounded theory with a new empirical data set and thus test the relationship between the organizational culture variables and the success of mergers. Empirical data is captured from merged organizations situated in major cities of India. These organizations represent significant proportions of the total number of organizations which have adopted mergers. The mix of industries included software, banking, manufacturing, pharmaceutical and financial services. Mixed sampling approach was adopted for this study. The first phase of sampling was conducted using the probability method of stratified random sampling. The study further used the non-probability method of judgmental sampling. Adequate sample size was identified for the study which represents the top, middle and junior management levels of the organizations that had adopted mergers. Validity and reliability of the research instrument was ensured with appropriate tests. Statistical tools like regression analysis, correlation analysis and factor analysis were used for data analysis. The results of the study revealed a strong relationship between organizational culture and its impact on the success of mergers. The study also revealed that the results were unique to the extent that they highlighted a marked difference in the manner of internalization of change of organizational culture after merger by the organizations in the manufacturing sector. Further, the study reveals that the organizations in the service sector internalized the changes at a slower rate. The study also portrays the industries in the manufacturing sector as more proactive and can contribute to a change in the perception of the said organizations.

Keywords: manufacturing industries, mergers, organizational culture, service industries

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Authors: Bovornluck Kuosuwan, Kevin Wongleedee

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The purposes of this research was to study the level of satisfaction of international tourists in five important areas: satisfaction on visiting tourist destinations, satisfaction on tourist images, satisfaction on value for money, satisfaction on service quality, and satisfaction when compared with their expectation. A probability random sampling of 200 inbound tourists was utilized. A questionnaire was used to collect the data and small in-depth interviews were also used to get their opinions about their positive and negative evaluations of their experience travelling in Thailand. The findings revealed that the majority of respondents had a medium level of satisfaction. When examined in detail, the level of satisfaction can be ranked from highest to lowest according to the mean average as follows: visiting tourist destinations, expectations, service quality, tourist image, and value for money.

Keywords: inbound tourists, satisfaction, Thailand, international tourists

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Authors: S. Suman, G. N. Singh

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The present manuscript addresses the estimation procedure of population parameter using Poisson probability distribution when characteristic under study possesses a rare sensitive attribute. The generalized form of unrelated randomized response model is suggested in order to acquire the truthful responses from respondents. The resultant estimators have been proposed for two situations when the information on an unrelated rare non-sensitive characteristic is known as well as unknown. The properties of the proposed estimators are derived, and the measure of confidentiality of respondent is also suggested for respondents. Empirical studies are carried out in the support of discussed theory.

Keywords: Poisson distribution, randomized response model, rare sensitive attribute, non-sensitive attribute

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Authors: Mohammed A. Zidan, Alaa Sagheer, Nasser Metwally

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Real-time learning is an important goal that most of artificial intelligence researches try to achieve it. There are a lot of problems and applications which require low cost learning such as learn a robot to be able to classify and recognize patterns in real time and real-time recall. In this contribution, we suggest a model of quantum competitive learning based on a series of quantum gates and additional operator. The proposed model enables to recognize any incomplete patterns, where we can increase the probability of recognizing the pattern at the expense of the undesired ones. Moreover, these undesired ones could be utilized as new patterns for the system. The proposed model is much better compared with classical approaches and more powerful than the current quantum competitive learning approaches.

Keywords: competitive learning, quantum gates, quantum gates, winner-take-all

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Authors: G. Bruno, A. Ciavarella, N. Linciano

Abstract:

The proportion of women in boardroom has traditionally been low around the world. Over the last decades, several jurisdictions opted for active intervention, which triggered a tangible progress in female representation. In Europe, many countries have implemented boardroom diversity policies in the form of legal quotas (Norway, Italy, France, Germany) or governance code amendments (United Kingdom, Finland). Policy actions rest, among other things, on the assumption that gender balanced boards result in improved corporate governance and performance. The investigation of the relationship between female boardroom representation and firm value is therefore key on policy grounds. The evidence gathered so far, however, has not produced conclusive results also because empirical studies on the impact of voluntary female board representation had to tackle with endogeneity, due to either differences in unobservable characteristics across firms that may affect their gender policies and governance choices, or potential reverse causality. In this paper, we study the relationship between the presence of female directors and corporate performance in Italy, where the Law 120/2011 envisaging mandatory quotas has introduced an exogenous shock in board composition which may enable to overcome reverse causality. Our sample comprises Italian firms listed on the Italian Stock Exchange and the members of their board of directors over the period 2008-2016. The study relies on two different databases, both drawn from CONSOB, referring respectively to directors and companies’ characteristics. On methodological grounds, information on directors is treated at the individual level, by matching each company with its directors every year. This allows identifying all time-invariant, possibly correlated, elements of latent heterogeneity that vary across firms and board members, such as the firm immaterial assets and the directors’ skills and commitment. Moreover, we estimate dynamic panel data specifications, so accommodating non-instantaneous adjustments of firm performance and gender diversity to institutional and economic changes. In all cases, robust inference is carried out taking into account the bidimensional clustering of observations over companies and over directors. The study shows the existence of a U-shaped impact of the percentage of women in the boardroom on profitability, as measured by Return On Equity (ROE) and Return On Assets. Female representation yields a positive impact when it exceeds a certain threshold, ranging between about 18% and 21% of the board members, depending on the specification. Given the average board size, i.e., around ten members over the time period considered, this would imply that a significant effect of gender diversity on corporate performance starts to emerge when at least two women hold a seat. This evidence supports the idea underpinning the critical mass theory, i.e., the hypothesis that women may influence.

Keywords: gender diversity, quotas, firms performance, corporate governance

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