Search results for: financial regulatory structure

Authors: Mais Khader, Xingjie Wei

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This research sheds light on female entrepreneurs by providing new insights on the survival predictions of companies led by females in the UK. This study aims to build a predictive machine learning model of the survival of female-led & co-led small & medium enterprises (SMEs) in the UK over the period 2000-2020. The predictive model built utilised a combination of financial and non-financial features related to both companies and their directors to predict SMEs' survival. These features were studied in terms of their contribution to the resultant predictive model. Five machine learning models are used in the modelling: Decision tree, AdaBoost, Naïve Bayes, Logistic regression and SVM. The AdaBoost model had the highest performance of the five models, with an accuracy of 73% and an AUC of 80%. The results show high feature importance in predicting companies' survival for company size, management experience, financial performance, industry, region, and females' percentage in management.

Keywords: company survival, entrepreneurship, females, machine learning, SMEs

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Authors: Yo-Seph Byun, Gyu-Phil Lee, Young-Bin Park, Gye-Chun Cho, Seong-Won Lee

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In Korea, a study on Limit State Design (LSD) for underground structures is being conducted in order to perform more effective design. In this study, as a result of MCS (Monte-Carlo Simulation) technique, failure probabilities of the structure during normal and earthquake are estimated in reliability analysis. Target reliability indexes are determined depending on load combinations for underground structure, and then, design variables such as load and material factors in LSD are decided. As a result, through the research in order to determine more reliable design variables, a specification of LSD for underground structures is able to be developed.

Keywords: design variable, limit state design, target reliability index, underground structure

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Authors: Mirjana Dragas, Marli Gonan Bozac, Morena Paulisic

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Corporate social responsibility (CSR) is a balance between strategic and financial goals of companies, as well as social needs. The integration of competitive strategy and CSR in food and beverage industry has allowed companies to find new sources of competitive advantage. The paper discusses the fact that socially responsible companies encourage co-operation with socially responsible suppliers in order to strengthen market competitiveness. In addition to the descriptive interpretation of the results obtained by a questionnaire, factor analysis was used, while principal components analysis was applied as a factor extraction method. The research results based on two multiple regression analyses show that: (1) selecting the CSR supplier explains a statistically significant part of the variance of the results on the scale of financial aspects of competitiveness (as much as 44.7% of the explained variance); and (2) selecting the CSR supplier is a significant predictor of non-financial aspects of competitiveness (explains 43.9% of the variance of the results on the scale of non-financial aspects of competitiveness). A successful competitive strategy must ultimately support the growth strategy. This implies an analytical approach to finding factors that influence competitiveness through socially sustainable solutions and satisfactory top management decisions.

Keywords: competitiveness, corporate social responsibility, food and beverage industry, supply chain decision making

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Authors: Jitendra Aswani

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In the first section of this study, impact of Global Financial Crisis (GFC) on the synchronization of fourteen Asian Stock Markets (ASM’s) of countries like Hong Kong, India, Thailand, Singapore, Taiwan, Pakistan, Bangladesh, South Korea, Malaysia, Indonesia, Japan, China, Philippines and Sri Lanka, has been analysed using the network science and its metrics like degree of node, clustering coefficient and network density. Then in the second section of this study by introducing the US stock market in existing network and developing a Minimum Spanning Tree (MST) spread of crisis from the US stock market to Asian Stock Markets (ASM) has been explained. Data used for this study is adjusted the closing price of these indices from 6th January, 2000 to 15th September, 2013 which further divided into three sub-periods: Pre, during and post-crisis. Using network analysis, it is found that Asian stock markets become more interdependent during the crisis than pre and post crisis, and also Hong Kong, India, South Korea and Japan are systemic important stock markets in the Asian region. Therefore, failure or shock to any of these systemic important stock markets can cause contagion to another stock market of this region. This study is useful for global investors’ in portfolio management especially during the crisis period and also for policy makers in formulating the financial regulation norms by knowing the connections between the stock markets and how the system of these stock markets changes in crisis period and after that.

Keywords: global financial crisis, Asian stock markets, network science, Kruskal algorithm

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Authors: Ibrahim A. Elshaer, Alaa M. Shaker

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Several previous empirical studies have operationalized service quality as either a multidimensional or unidimensional construct. While few earlier studies investigated some practices of the assumed dimensional structure of service quality, no study has been found to have tested the construct’s dimensionality using confirmatory factor analysis (CFA). To gain a better insight into the dimensional structure of service quality construct, this paper tests its dimensionality using three CFA models (higher order factor model, oblique factor model, and one factor model) on a set of data collected from 390 British tourists visited Egypt. The results of the three tests models indicate that service quality construct is multidimensional. This result helps resolving the problems that might arise from the lack of clarity concerning the dimensional structure of service quality, as without testing the dimensional structure of a measure, researchers cannot assume that the significant correlation is a result of factors measuring the same construct.

Keywords: service quality, dimensionality, confirmatory factor analysis, Egypt

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Authors: Nela Milosevic, Sladjana Barjaktarovic Rakocevic, Sladjana Benkovic, Nemanja Milanovic

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Nowadays, performance measurement systems play a key role in evaluating the strategic performances of an organization. On the other hand, there has been a shift towards the Balanced Scorecard (BSC), which has been recognized as a valuable managerial approach. The main goal of this paper is to analyze the main performances of Serbian banks measured at the branches level, through the usage of the Balanced Scorecard framework. Although an extensive number of practitioners have an interest in the Balanced Scorecard approach, little empirical research has been conducted on the implementation of its concept in the service sector like banks, especially within developing countries. From the beginning of August till the end of September 2015, authors have been conducting in-depth interviews among a number of experts from the most successful banks in Serbia. The results show that the non-financial measures, especially, customer oriented indicators and product/ service oriented indicators, seem to be very important factors for improving not only the financial situation within the bank, but also overall business performances. Additionally, the findings prove that there is the cause-effect relationship between non-financial and financial dimensions of the Balanced Scorecard. Having in mind that the banks are still using outdated performance evaluation systems, such as annual, quarterly and monthly reports, we hope that this paper will contribute to the knowledge of how banks in Serbia may apply the Balanced Scorecard approach to evaluate their performance on the most efficient and effective way.

Keywords: balanced scorecard approach, bank management, performance measurement systems, strategic performances

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Authors: Mirjana Dokmanovic

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The paper will introduce main findings of the research of the responses of the Central European and South Eastern European (CEE/SEE) countries to the global economic and financial crisis in 2008 from human rights and gender perspectives. The research methodology included desk research and qualitative analysis of the available data, studies, statistics, and reports produced by the governments, the UN agencies, international financial institutions (IFIs) and international network of civil society organizations. The main conclusion of the study is that the governments in the region missed to assess the impacts of their anti-crisis policies both ex ante and ex post from the standpoint of human rights and gender equality. Majority of the countries have focused their efforts solely on prompting up the banking and financial sectors, and construction business sectors. The tremendous debt which the states have accumulated for the rescue of banks and industries lead to further cuts in social expenses and reduction of public services. Decreasing state support to health care and social protection and declining family incomes made social services unaffordable for many families. Thus, the economic and financial crisis stirred up the care crisis that was absorbed by women’s intensifying unpaid work within a family and household to manage household survival strategy. On the other hand, increased burden of the care work weakened the position of women in the labour market and their opportunities to find a job. The study indicates that the artificial separation of the real economy and the sphere of social reproduction still persist. This has created additional burden of unpaid work of women within a family. The aim of this paper is to introduce the lessons learnt for future: (a) human rights may not be derogated in the times of crisis; (b) the obligation of states to mitigate negative impacts of economic policies to population, particularly to vulnerable groups, must be prioritized; (c) IFIs and business sector must be liable as duty bearers with respect to human rights commitments.

Keywords: CEE/SEE region, global financial and economic crisis, international financial institutions, human rights commitments, principle of non-derogability of human rights

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Authors: David Sarpong, Waleed Khursheed, Ernest Danquah, Erin Murphy

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Shigella is a pathogenic bacterium responsible for shigellosis, a severe diarrheal disease that claims the lives of immunocompromised individuals worldwide. To develop therapeutics against this disease, an understanding of the molecular mechanisms underlying the pathogen’s physiology is crucial. Small non-coding RNAs (sRNAs) have emerged as important regulators of bacterial physiology, including as components of toxin-antitoxin systems. In this study, we investigated the role of RyfA in S. flexneri physiology and virulence. RyfA, originally identified as an sRNA in Escherichia coli, is conserved within the Enterobacteriaceae family, including Shigella. Whereas two copies of ryfA are present in S. dysenteriae, all other Shigella species contain only one copy of the gene. Additionally, we identified a putative open reading frame within the RyfA transcript, suggesting that it may be a dual-functioning gene encoding a small protein in addition to its sRNA function. To study ryfA in vitro, we cloned the gene into an inducible plasmid and observed the effect on bacterial growth. Here, we report that RyfA production inhibits the growth of S. flexneri, and this inhibition is dependent on the contained open reading frame. In-silico analyses have revealed the presence of two divergently transcribed sRNAs, RyfB1 and RyfB2, which share nucleotide complementarity with RyfA and thus are predicted to function as anti-toxins. Our data demonstrate that RyfB2 has a stronger antitoxin effect than RyfB1. This regulatory pattern suggests a novel form of a toxin-antitoxin system in which the activity of a single toxin is inhibited to varying degrees by two sRNA antitoxins. Studies are ongoing to investigate the regulatory mechanism(s) of the antitoxin genes, as well as the downstream targets and mechanism of growth inhibition by the RyfA toxin. This study offers distinct insights into the regulatory mechanisms underlying Shigella physiology and may inform the development of new anti-Shigella therapeutics.

Keywords: sRNA, shigella, toxin-antitoxin, Type 1 toxin antitoxin

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Authors: Qisheng Hu, Jianglei Han, Yue Yang, My Hoa Ha

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When a company is considering purchasing software for commercial use, contract risk assessment is critical to identify risks to mitigate the potential adverse business impact, e.g., security, financial and regulatory risks. Contract risk assessment requires reviewers with specialized knowledge and time to evaluate the legal documents manually. Specifically, validating contracts for a software vendor requires the following steps: manual screening, interpreting legal documents, and extracting risk-prone segments. To automate the process, we proposed a framework to assist legal contract document risk identification, leveraging pre-trained deep learning models and natural language processing techniques. Given a set of pre-defined risk evaluation problems, our framework utilizes the pre-trained transformer-based models for question-answering to identify risk-prone sections in a contract. Furthermore, the question-answering model encodes the concatenated question-contract text and predicts the start and end position for clause extraction. Due to the limited labelled dataset for training, we leveraged transfer learning by fine-tuning the models with the CUAD dataset to enhance the model. On a dataset comprising 287 contract documents and 2000 labelled samples, our best model achieved an F1 score of 0.687.

Keywords: contract risk assessment, NLP, transfer learning, question answering

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Authors: Rebecca Hafner, Daniel Read, David Elmes

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The persuasive potential of normative and feedback (financial vs. environmental) information in ‘nudging’ people towards making environmentally sound decisions was explored in a hypothetical choice experiment. The research was specifically focused on determining how subtle variations in the decision frame could be used to increase the selection of energy efficient vs. standard technologies, using the context of home heating choice. Participants were given a choice of a standard heating system (a gas boiler) and a relatively more-energy efficient option (a heat pump). The experiment had a 2 (normative vs. no normative information) by 3 feedback type (financial, environmental, none) design. The last group constituted the control. Half of the participants were given normative information about what the majority of others in their neighbourhood had opted to do when faced with the same choice set, prior to making their decision. The other half received no such information. Varying feedback frames were incorporated by providing participants with information on either financial or environmental savings that could be achieved by choosing the heat pump. No such information was provided in the control group. A significant interaction was found between normative information and feedback frame type. Specifically, the impact of feedback frames was found to be reduced when normative information was provided; illustrating the overriding influence of normative information on option preference. Participants were significantly more likely to select the heat pump if they were vs. were not given normative information. Yet when no normative information was provided, the persuasive influence of the financial frame was increased – highlighting this as an effective means of encouraging uptake of new technologies in this instance. Conversely, the environmental frame was not found to differ significantly from the control. Marginal carryover effects were also found for stated future real-life decision-making behaviour, with participants who were versus were not given normative information being marginally more likely to state they would consider installing a heat pump when they next need to replace their heating system in real life. We conclude that normative and financial feedback framing techniques are highly effective in increasing uptake of new, energy efficient heating technologies involving significant upfront financial outlay. The implications for researchers looking to promote ‘green’ choice in the context of new technology adoption are discussed.

Keywords: energy-efficient technology adoption, environmental decision making, financial vs. environmental feedback framing techniques, social norms

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Authors: Ilgoun Kim, Jongpil Jeong

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Recently, a connected industrial parks (CIPs) architecture using new technologies such as RFID, cloud computing, CPS, Big Data, 5G 5G, IIOT, VR-AR, and ventral AI algorithms based on IoT has been proposed. This researcher noted the vehicle junction problem (VJP) as a more specific detail of the CIPs architectural models. The VJP noted by this researcher includes 'efficient AI physical connection challenges for vehicles' through ventilation, 'financial and financial issues with complex vehicle physical connections,' and 'welfare and working conditions of the performing personnel involved in complex vehicle physical connections.' In this paper, we propose a public solution architecture for the 'electronic financial problem of complex vehicle physical connections' as a detailed task during the vehicle junction problem (VJP). The researcher sought solutions to businesses, consumers, and Korean social problems through technological advancement. We studied how the beneficiaries of technological development can benefit from technological development with many consumers in Korean society and many small and small Korean company managers, not some specific companies. In order to more specifically implement the connected industrial parks (CIPs) architecture using the new technology, we noted the vehicle junction problem (VJP) within the smart factory industrial complex and noted the process of achieving the vehicle junction problem performance among several electronic processes. This researcher proposes a more detailed, integrated public finance enterprise architecture among the overall CIPs architectures. The main details of the public integrated financial enterprise architecture were largely organized into four main categories: 'business', 'data', 'technique', and 'finance'.

Keywords: enterprise architecture, IT Finance, smart logistics, CIPs

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Authors: Assad Rashid, Umair Ahmed, Zafar Baig

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A new trend in construction is widely influenced by the use of Steel-Concrete Composite Columns. The rapid growth in Steel-Concrete Composite construction has widely decreased the conventional R.C.C structures. Steel Concrete composite construction has obtained extensive receiving around the globe. It is considering the fact that R.C.C structures construction is most suitable and economical for low-rise construction, so it is used in farming systems in most of the buildings. However, increased dead load, span restriction, less stiffness and risky formwork make R.C.C construction uneconomical and not suitable when it comes to intermediate to high-rise buildings. A Base + Ground +11 storey commercial building was designed on ETABS 2017 and made a comparison between conventional R.C.C and encased composite column structure. After performing Equivalent Static non-linear analysis, it has been found that construction cost is 13.01% more than R.C.C structure but encased composite column building has 7.7% more floor area. This study will help in understanding the behavior of conventional R.C.C structure and Encased Composite column structure.

Keywords: composite columns structure, equivalent static non-linear analysis, comparison between R.C.C and encased composite column structures, cost-effective structure

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Authors: Mohamed M. El Gendy, Ibrahim A. El Arabi, Rafeek W. Abdel-Missih, Omar A. Kandil

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Nonlinear analysis is one of the most important design and safety tools in structural engineering. Based on the finite-element method, a geometrical and material nonlinear analysis of large span reinforced concrete arches is carried out considering soil-structure interaction. The concrete section details and reinforcement distribution are taken into account. The behavior of soil is considered via Winkler's and continuum models. A computer program (NARC II) is specially developed in order to follow the structural behavior of large span reinforced concrete arches up to failure. The results obtained by the proposed model are compared with available literature for verification. This work confirmed that the geometrical and material nonlinearities, as well as soil structure interaction, have considerable influence on the structural response of reinforced concrete arches.

Keywords: nonlinear analysis, reinforced concrete arched structure, soil-structure interaction, geotechnical engineering

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Authors: Tim Nedyalkov

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A business decision to move to the cloud brings fundamental changes in how an organization develops and delivers its Information Technology solutions. The accelerated pace of digital transformation across businesses and government agencies increases the reliance on cloud-based services. They are collecting, managing, and retaining large amounts of data in cloud environments makes information security and data privacy protection essential. It becomes even more important to understand what key factors drive successful cloud adoption following the commencement of the Privacy Amendment Notifiable Data Breaches (NDB) Act 2017 in Australia as the regulatory changes impact many organizations and industries. This quantitative correlational research investigated the governance, risk management, and compliance factors contributing to cloud security success. The factors influence the adoption of cloud computing within an organizational context after the commencement of the NDB scheme. The results and findings demonstrated that corporate information security policies, data storage location, management understanding of data governance responsibilities, and regular compliance assessments are the factors influencing cloud computing adoption. The research has implications for organizations, future researchers, practitioners, policymakers, and cloud computing providers to meet the rapidly changing regulatory and compliance requirements.

Keywords: cloud compliance, cloud security, data governance, privacy protection

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Authors: Chengwei Wang, Shuqing Xu, Philipp M. Schlüter

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The genus Ophrys is remarkable for its mimicry, flower-lip closely resembling pollinator females in a species-specific manner. Therefore, floral traits associated with pollinator attraction, especially scent, are suitable models for investigating the molecular basis of adaption, speciation, and evolution. Within the two Ophrys species groups: O. sphegodes (S) and O. fusca (F), pollinator shifts among the same insect species have taken place. Preliminary data suggest that they involve a comparable hydrocarbon profile in their scent, which is mainly composed of alkanes and alkenes. Genes encoding stearoyl-acyl carrier protein desaturases (SAD) involved in alkene biosynthesis have been identified in the S group. This study aims to investigate the control and parallel evolution of ecologically significant alkene production in Ophrys. Owing to the central role those SAD genes play in determining positioning of the alkene double-bonds, a detailed understanding of their functional mechanism and of regulatory aspects is of utmost importance. We have identified 5 transcription factors potentially related to SAD expression in O. sphegodes which belong to the MYB, GTE, WRKY, and MADS families. Ultimately, our results will contribute to understanding genes important in the regulatory control of floral scent synthesis.

Keywords: floral traits, transcription factors, biosynthesis, parallel evolution

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Authors: Bounar Nedjemeddine

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Materials with the pyrochlore lattice structure have attracted much recent attention due to their wide applications in ceramic thermal barrier coatings, high-permittivity dielectrics, and potential solid electrolytes in solid-oxide fuel cells. The work described in this paper is devoted to the synthesis and characterization of a pyrochlore structure based on lanthanum (La₂O₃) and tin (SnO₂) oxides of general formula La₂Sn₂O₇, substituted by Sr at the site La. Their structures were determined from X-ray powder diffraction using CELFER analysis. All the compositions present the space group Fd-3m. The substitution of La by Sr in the La₂Sn₂O₇ compound causes a variation of the cell parameters. The difference in charge between La³⁺ and Sr²⁺ and the difference in size cause the cell parameters to decrease from a=10.7165 A° to a=10.6848 A° for the substitution rates (x = 0.05, 0.1, 0.15 ...), which leads to a decrease in the volume of the mesh. For a substitution rate x = 0.25, there is an increase in the cell parameters (a=10.7035A°), which can be explained by a competitiveness of the size effect and the presence of a gap in the structure which go in the opposite direction.

Keywords: solid-oxide fuel cells, structure, pyrochlore, X-ray diffraction

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Authors: Jihene Jebeniani

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We proposed an approach combining both the techniques of experimental economy and the flexibility of discrete choice models in order to test the loss aversion. Our main objective was to test the loss aversion of the Cumulative Prospect Theory (CPT). We developed an experimental laboratory in the context of the financial investments that aimed to analyze the attitude towards the risk of the investors. The study uses the lotteries and is basing on econometric modeling. The estimated model was the ordered probit.

Keywords: risk aversion, behavioral finance, experimental economic, lotteries, cumulative prospect theory

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Authors: Bita Mashayekhi, Marjan Fayyazi, Parisa Sefati

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Audit quality is a popular topic in accounting and auditing research because recent decades’ financial crises reduce the reliability of financial reports to public investors and cause significant doubt about the audit profession. Therefore, doing research to identify effective factors in improving audit quality is necessary for bringing back public investors’ trust to financial statements as well as audit reports. In this study, we explore the relationship between audit rotation and audit quality. For this purpose, we employ the Duff (2009) model of audit quality to measure audit quality and use a questionnaire survey of 27 audit service quality attributes. Our results show that there is a negative relationship between auditor’s rotation and audit quality as we consider the auditor’s reputation, capability, assurance, experience, and responsiveness as surrogates for audit quality. There is no evidence for verifying a same relationship when we use the auditor’s independence and expertise for measuring audit quality.

Keywords: audit quality, auditor’s rotation, reputation, capability, assurance, experience, responsiveness, independence, expertise

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Authors: Asim Qureshi, R. S. Jangid

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Seismic response control of structures is generally achieved by using control devices which either dissipate the input energy or modify the dynamic properties of structure.In this paper, the response of a 20-storey benchmark building supplemented by viscous dampers and Negative Stiffness Device (NSD) is assessed by numerical simulations using the Newmark-beta method. True negative stiffness is an adaptive passive device which assists the motion unlike positive stiffness. The structure used in this study is subjected to four standard ground motions varying from moderate to severe, near fault to far-field earthquakes. The objective of the present study is to show the effectiveness of the adaptive negative stiffness device (NSD and passive dampers together) relative to passive dampers alone. This is done by comparing the responses of the above uncontrolled structure (i.e., without any device) with the structure having passive dampers only and also with the structure supplemented with adaptive negative stiffness device. Various performance indices, top floor displacement, top floor acceleration and inter-storey drifts are used as comparison parameters. It is found that NSD together with passive dampers is quite effective in reducing the response of aforementioned structure relative to structure without any device or passive dampers only. Base shear and acceleration is reduced significantly by incorporating NSD at the cost of increased inter-storey drifts which can be compensated using the passive dampers.

Keywords: adaptive negative stiffness device, apparent yielding, NSD, passive dampers

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Authors: Aziz Zoubir, Sefir Yamina, Djelti Redouan, Bentata Samir

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The effect of a uniform electric field across multibarrier systems (GaAs/AlxGa1-xAs) is exhaustively explored by a computational model using exact Airy function formalism and the transfer-matrix technique. In the case of biased Dimer Fibonacci Height Barrier superlattices (DFHBSL) structure a strong reduction in transmission properties was observed and the width of the miniband structure linearly decreases with the increase of the applied bias. This is due to the confinement of the states in the miniband structure, which becomes increasingly important (Wannier-Stark effect).

Keywords: Dimer Fibonacci Height Barrier superlattices, singular extended states, exact Airy function, transfer matrix formalism

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Authors: Riccardo Bonazzi, Michaël Poli, Abeba Nigussie Turi

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This paper presents an applied research of a new module for the financial administration and management industry, Personalizable and Automated Checklists Integrator, Overseeing Legal Investigations (PACIOLI). It aims at designing the business model of the trust company of the future. By identifying the key stakeholders, we draw a general business process design of the industry. The business model focuses on disintermediating the traditional form of business through the new technological solutions of a software company based in Switzerland and hence creating a new interactive platform. The key stakeholders of this interactive platform are identified as IT experts, legal experts, and the New Edge Trust Company (NATC). The mechanism we design and propose has a great importance in improving the efficiency of the financial business administration and management industry, and it also helps to foster the provision of high value added services in the sector.

Keywords: new edge trust company, business model design, automated checklists, financial technology

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Authors: Hamed Sarbazy, Zohre Gholipour Haftkhani, Ali Safari, Pejman Hosseiniun

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Scientific and industrial progress in the past two decades has resulted in energy distribution systems based on power electronics, as an enabling technology in various industries and building management systems can be considered. Grading and standardization module power electronics systems and its use in a distributed control system, a strategy for overcoming the limitations of using this system. The purpose of this paper is to investigate strategies for scheduling and control structure of standard modules is a power electronic systems. This paper introduces the classical control methods and disadvantages of these methods will be discussed, The hierarchical control as a mechanism for distributed control structure of the classification module explains. The different levels of control and communication between these levels are fully introduced. Also continue to standardize software distribution system control structure is discussed. Finally, as an example, the control structure will be presented in a DC distribution system.

Keywords: application management, hardware management, power electronics, building blocks

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Authors: Moien Mojabi, Aurelien Hospital, Daniel Potts, Chris Young, Albert Leung

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The wave analysis is an integral part of the hydrotechnical assessment carried out during the permitting and design phases for coastal structures, such as marinas. This analysis aims in quantifying: i) the Suitability of the coastal structure design against Small Craft Harbour wave tranquility safety criterion; ii) Potential environmental impacts of the structure (e.g., effect on wave, flow, and sediment transport); iii) Mooring and dock design and iv) Requirements set by regulatory agency’s (e.g., WSA section 11 application). While a complex three-dimensional hydrodynamic modelling approach can be applied on large-scale projects, the need for an efficient and reliable wave analysis method suitable for smaller scale marina projects was identified. As a result, Tetra Tech has developed and applied an integrated analysis framework (hereafter TT approach), which takes the advantage of the state-of-the-art numerical models while preserving the level of simplicity that fits smaller scale projects. The present paper aims to describe the TT approach and highlight the key advantages of using this integrated framework in lake marina projects. The core of this methodology is made by integrating wind, water level, bathymetry, and structure geometry data. To respond to the needs of specific projects, several add-on modules have been added to the core of the TT approach. The main advantages of this method over the simplified analytical approaches are i) Accounting for the proper physics of the lake through the modelling of the entire lake (capturing real lake geometry) instead of a simplified fetch approach; ii) Providing a more realistic representation of the waves by modelling random waves instead of monochromatic waves; iii) Modelling wave-structure interaction (e.g. wave transmission/reflection application for floating structures and piles amongst others); iv) Accounting for wave interaction with the lakebed (e.g. bottom friction, refraction, and breaking); v) Providing the inputs for flow and sediment transport assessment at the project site; vi) Taking in consideration historical and geographical variations of the wind field; and vii) Independence of the scale of the reservoir under study. Overall, in comparison with simplified analytical approaches, this integrated framework provides a more realistic and reliable estimation of wave parameters (and its spatial distribution) in lake marinas, leading to a realistic hydrotechnical assessment accessible to any project size, from the development of a new marina to marina expansion and pile replacement. Tetra Tech has successfully utilized this approach since many years in the Okanagan area.

Keywords: wave modelling, wind-wave, extreme value analysis, marina

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Authors: Raheel Asif, Michael Frommel

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This paper focuses on analyzing the exchange rate exposure of exporting & domestic firms in (the so far rarely addressed) largest Eastern European transition economies, i.e., Russia and the three EU accession countries, Poland, Hungary, and Czech Republic (CEEC-3). It also controls for possible effects of different exchange rate regimes, Great Financial crisis (2007-08), Russian Financial crisis (2014-15), the formation of EU & turn of year effect. Substantially improving the results from the existing literature on these transition economies, we find for more than 51% of our sample firms in CEEC-3 countries and 29% in Russia shows a significant exchange rate exposure. However, the magnitude and direction of firms’ exposure depends on the particular bilateral exchange rate and differs between CEEC-3 and Russia. We find that share price increases with an appreciation of the domestic currency against the EURO and US Dollar (USD) in CEEC-3; however, the effect is more pronounced for EURO as expected. Whereas, for Russian firms share price increases with a depreciation of the domestic currency against the USD only. Those differences may result from a differing dominance of exposure channels in the respective economies, such as the country-specific export structure, competitiveness channels, and dependence on foreign debt. Finally, the switch from a pegged to a flexible exchange rate regime appears to have a less pronounced effect for the exchange rate exposure of firms in all countries except for USD in Poland and Russia.

Keywords: exchange rate exposure, transition economies, central and eastern Europe, international finance

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Authors: Muhammet Emre Turan, Sait Özçelik, Yavuz Sun

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In railway rails, residual stress was measured and the values of residual stress were associated with hardness and micro structure in this study. At first, three rails as one meter long were taken and residual stresses were measured by cutting method according to the EN 13674-1 standardization. In this study, strain gauge that is an electrical apparatus was used. During the cutting, change in resistance in rail gave us residual stress value via computer program. After residual stress measurement, Brinell hardness distribution were performed for head parts of rails. Thus, the relationship between residual stress and hardness were established. In addition to that, micro structure analysis was carried out by optical microscope. The results show that, the micro structure and hardness value was changed with residual stress.

Keywords: residual stress, hardness, micro structure, rail, strain gauge

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Authors: Shirin Ghasemi

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The structure of Asadi’s poem in Garshasb-Nameh coordinates with the structure of human psyche based on Jung’s perspective. The poetic stories of Asadi in Garshasb-Nameh is contrasted to human psyche according to Jung’s view in psychology which indicated the similarity of poetic structure of stories of Garshasb-Nameh to analytical psychology of Jung. In fact, by studying the stories of this collection the reader travels with him and finds it consistent with the human psyche. To demonstrate this, the story of Jamshid marriage with Kuhrang’s daughter and the story of Garshasb marriage with King’s daughter are selected. These two stories illustrate the poetic structure and the human psyche based on Jung’s analytical psychology perspective.

Keywords: Asadi Tusi, Garshasb-Nameh, Jung, analytical psychology

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Authors: Victoria Scarratt

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Couples involved in age-gap relationships generally evoke negative stereotypes, opinions, and social disapproval. This research seeks to examine whether financial disparities in age-discrepant relationships cause negative attitudes in study participants. It was hypothesized that an age-gap couple (29 year difference) would receive a greater degree of societal disapproval when the couple also had a large salary gap compared to a similarly aged couple (1 year difference) with a salary gap. Additionally, there would be no significant difference between age-gap couples without a salary-gap compared to a similarly aged couple without a salary gap. To test the hypothesis, participants were given one of four scenarios regarding a couple in a romantic relationship.Then they were asked to respond to nine Likert scale questions. Results indicated that participants perceived age-gap relationships with a salary disparity to be less equitable in regard to a power imbalance between the couple and the financial and general gain that one partner will receive. A significant interaction was also detected for evoking feelings of disgust in participants and how morally correct it is for the couple to continue their relationship.

Keywords: age gap relationships, love, financial disparities, societal stigmas, relationship dynamics

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Authors: Kung-Jen Tu

Abstract:

Many public housing properties developed by local governments in Taiwan in the 1980s have deteriorated severely as these rental apartment buildings aged. The lack of building maintainability considerations during project design phase as well as insufficient maintenance funds have made it difficult and costly for local governments to maintain and keep public housing properties in good shape. In order to assist the local governments in achieving and delivering sustainable public housing, this paper intends to present a developed design evaluation method to be used to evaluate the presented design schemes from property management and financial feasibility perspectives during project design phase of public housing projects. The design evaluation results, i.e. the property management and financial implications of presented design schemes that could occur later during the building operation and maintenance phase, will be reported to the client (the government) and design schemes revised consequently. It is proposed that the design evaluation be performed from two main perspectives: (1) Operation and property management perspective: Three criteria such as spatial appropriateness, people and vehicle circulation and control, property management working spaces are used to evaluate the ‘operation and PM effectiveness’ of a design scheme. (2) Financial feasibility perspective: Four types of financial analyses are performed to assess the long term financial feasibility of a presented design scheme, such as operational and rental income analysis, management fund analysis, regular operational and property management service expense analysis, capital expense analysis. The ongoing Chung-Li Public Housing Project developed by the Taoyuan City Government will be used as a case to demonstrate how the presented design evaluation method is implemented. The results of property management assessment as well as the annual operational and capital expenses of a proposed design scheme are presented.

Keywords: design evaluation method, management fund, operational and capital expenses, rental apartment buildings

Procedia PDF Downloads 285

Authors: Stamataki Erofili Nellie, Benardos Andreas

Abstract:

Winemaking and aging in Greece has been performed so far in special facilities, designed either as above ground or shallow underground buildings. The latter are well-known in Santorini as “canaves,” dating back to the 1700s. Canaves were mainly used for wine storage and aging, although occasionally, they included a winepress to complete there the whole wine production. On the other hand, wine caves are subterranean caves of the same use as canaves in the wine manufacturing industry, but they are excavated at a much greater depth of more than 53 meters or 175 feet. Whereas canaves or a typical wine cellar is around 10 feet deep, with is equivalent to almost 3 meters. This paper discusses the advantages and the disadvantages of creating a wine cave for the vinification of a winery in Greece and the financial investment or risk that has to be taken. The data presented and analysed are given from wineries in Greece and especially from those located in Santorini island. The estimation of the cost for the excavation of the model selected as a wine cave will be compared with the financial budget of the existing premises and facilities above ground in Greek wineries. In order to show whether it is viable for a greek winery to invest in a wine cave.

Keywords: underground space use, subterranean winery, wine cave, underground winery, greece

Procedia PDF Downloads 162

Authors: Luciano Roberto Fernandez-Sola, Cesar Augusto Arredondo-Velez, Miguel Angel Jaimes-Tellez

Abstract:

This paper explores the modifications on peak acceleration, velocity and displacement profiles over the structure due to dynamic soil-structure interaction (DSSI). A shear beam model is used for the structure. Soil-foundation flexibility (inertial interaction) is considered by a set of springs and dashpots at the structure base. Kinematic interaction is considered using transfer functions. Impedance functions are computed using simplified expressions for rigid foundations. The research studies the influence of the slenderness ratio on the value of the peak floor response. It is shown that the modifications of peak floor responses are not the same for acceleration, velocity and displacement. This is opposite to the hypothesis used by methods included in several building codes. Results show that modifications produced by DSSI on different response quantities are not equal.

Keywords: peak floor intensities, dynamic soil-structure interaction, buildings with flexible base, kinematic and inertial interaction

Procedia PDF Downloads 436