Search results for: wealth indices
479 Impact of Behavioral Biases on Indian Investors: Case Analysis of a Mutual Fund Investment Company
Authors: Priyal Motwani, Garvit Goel
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In this study, we have studied and analysed the transaction data of investors of a mutual fund investment company based in India. Based on the data available, we have identified the top four biases that affect the investors of the emerging market economies through regression analysis and three uniquely defined ratios. We found that the four most prominent biases that affected the investment making decisions in India are– Chauffer Knowledge, investors tend to make ambitious decisions about sectors they know little about; Bandwagon effect – the response of the market indices to macroeconomic events are more profound and seem to last longer compared to western markets; base-rate neglect – judgement about stocks are too much based on the most recent development ignoring the long-term fundamentals of the stock; availability bias – lack of proper communication channels of market information lead people to be too reliant on limited information they already have. After segregating the investors into six groups, the results have further been studied to identify a correlation among the demographics, gender and unique cultural identity of the derived groups and the corresponding prevalent biases. On the basis of the results obtained from the derived groups, our study recommends six methods, specific to each group, to educate the investors about the prevalent biases and their role in investment decision making.Keywords: Bandwagon effect, behavioural biases, Chauffeur knowledge, demographics, investor literacy, mutual funds
Procedia PDF Downloads 231478 Glaucoma with Normal IOP, Is It True Normal Tension glaucoma or Something Else!
Authors: Sushma Tejwani, Shoruba Dinakaran, Kushal Kacha, K. Bhujang Shetty
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Introduction and aim: It is not unusual to find patients with glaucomatous damage and normal intraocular pressure, and to label a patient as Normal tension glaucoma (NTG) majority of clinicians depend on office Intraocular pressures (IOP) recordings; hence, the concern is that whether we are missing the late night or early morning spikes in this group of patients. Also, ischemia to the optic nerve is one of the presumed causes of damage in these patients, however demonstrating the same has been a challenge. The aim of this study was to evaluate IOP variations and patterns in a series of patients with open angles, glaucomatous discs or fields but normal office IOP, and in addition to identify ischemic factors for true NTG patients. Materials & Methods: This was an observational cross- sectional study from a tertiary care centre. The patients that underwent full day DVT from Jan 2012 to April 2014 were studied. All patients underwent IOP measurement on Goldmann applanation tonometry every 3 hours for 24 hours along with a recording of the blood pressure (BP). Further patients with normal IOP throughout the 24- hour period were evaluated with a cardiologist for echocardiography and carotid Doppler. Results: There were 47 patients and a maximum number of patients studied was in the age group of 50-70 years. A biphasic IOP peak was noted for almost all the patients. Out of the 47 patients, 2 were excluded from analysis as they were on treatment.20 patients (42%) were diagnosed on DVT to have an IOP spike and were then diagnosed as open angle glaucoma and another 25 (55%) were diagnosed to have normal tension glaucoma and were subsequently advised a carotid Doppler and a cardiologists consult. Another interesting finding was that 9 patients had a nocturnal dip in their BP and 3 were found to have carotid artery stenosis. Conclusion: A continuous 24-hour monitoring of the IOP and BP is a very useful albeit mildly cumbersome tool which provides a wealth of information in cases of glaucoma presenting with normal office pressures. It is of great value in differentiating between normal tension glaucoma patients & open angle glaucoma patients. It also helps in timely diagnosis & possible intervention due to referral to a cardiologist in cases of carotid artery stenosis.Keywords: carotid artery disease in NTG, diurnal variation of IOP, ischemia in glaucoma, normal tension glaucoma
Procedia PDF Downloads 286477 A Study on Compromised Periodontal Health Status among the Pregnant Woman of Jamshedpur, Jharkhand, India
Authors: Rana Praween Kumar
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Preterm-low birth weight delivery is a major cause of infant morbidity and mortality in developing countries and has been linked to poor periodontal health during pregnancy. Gingivitis and chronic periodontitis are highly prevalent chronic inflammatory oral diseases. The detection and diagnosis of these common diseases is a fundamentally important component of oral health care. This study is intended to investigate predisposing and enabling factors as determinants of oral health indicators in pregnancy as well as the association between periodontal problems during pregnancy with age and socio economic status of the individual. A community –based prospective cohort study will be conducted in Jamshedpur, Jharkhand, India among pregnant women using completed interviews and a full mouth oral clinical examination using the CPITN (Community Periodontal Index of Treatment Need) and OHI-S (Simplified Oral Hygiene) indices with adequate sample size and informed consent to the patient following proper inclusion and exclusion criteria. Multiple logistic regression analyses will be used to identify independent determinants of periodontal problems and use of dental services during pregnancy. Analysis of covariance (ANCOVA) will be used to investigate the relationship between periodontal problems with the age and socioeconomic status. The result will help in proper monitoring of periodontal health during pregnancy encouraging the delivery of healthy child and the maintenance of proper health of the mother.Keywords: infant, periodontal problems, pregnancy, pre-term-low birth weight delivery
Procedia PDF Downloads 163476 Change Detection and Analysis of Desertification Processes in Semi Arid Land in Algeria Using Landsat Data
Authors: Zegrar Ahmed, Ghabi Mohamed
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The degradation of arid and semi-arid ecosystems in Algeria has become a palpable fact that only hinders progress and rural development. In these exceptionally fragile environments, the decline of vegetation is done according to an alarming increase and wind erosion dominates. The ecosystem is subjected to a long hot dry season and low annual average rainfall. The urgency of the fight against desertification is imposed by the very nature of the process that tends to self-accelerate, resulting when human intervention is not forthcoming the irreversibility situations, preventing any possibility of restoration state of these zones. These phenomena have led to different degradation processes, such as the destruction of vegetation, soil erosion, and deterioration of the physical environment. In this study, the work is mainly based on the criteria for classification and identification of physical parameters for spatial analysis and multi-sources to determine the vulnerability of major steppe formations and their impact on desertification. we used Landsat data with two different dates March 2010 and November 2014 in order to determine the changes in land cover, sand moving and land degradation for the diagnosis of the desertification Phenomenon. The application, through specific processes, including the supervised classification was used to characterize the main steppe formations. An analysis of the vulnerability of plant communities was conducted to assign weights and identify areas most susceptible to desertification. Vegetation indices are used to characterize the steppe formations to determine changes in land use.Keywords: remote sensing, SIG, ecosystem, degradation, desertification
Procedia PDF Downloads 339475 Fermented Unripe Plantain (Musa paradisiacal) Peel Meal as a Replacement for Maize in the Diet of Nile Tilapia (Oreochromis niloticus) Fingerlings
Authors: N. A. Bamidele, S. O. Obasa, I. O. Taiwo, I. Abdulraheem, O. C. Odebiyi, A. A. Adeoye, O. E. Babalola, O. V. Uzamere
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A feeding trial was conducted to investigate the effect of fermented unripe plantain peel meal (FUP) on growth performance, nutrients digestibility and economic indices of production of Nile tilapia, Oreochromis niloticus fingerlings. Fingerlings (150) of Nile tilapia (1.70±0.1g) were stocked at 10 per plastic tank. Five iso-nitrogenous diets containing 40% crude protein in which maize meal was replaced by fermented unripe plantain peel meal at 0% (FUP0), 25% (FUP25), 50% (FUP50), 75% (FUP75) and 100% (FUP100) were formulated and prepared. The fingerlings were fed at 5% body weight per day for 56 days. There was no significant difference (p > 0.05) in all the growth parameters among the treatments. Feed conversion ratio of 1.35 in fish fed diet FUP25 was not significantly different (P > 0.05) from 1.42 of fish fed diet FUP0. Apparent protein digestibility of 86.94% in fish fed diet FUP100 was significantly higher (p < 0.05) than 70.37% in fish fed diet FUP0 while apparent carbohydrate of 88.34% in fish fed diet FUP0 was significantly different (p < 0.05) from 70.29% of FUP100. Red blood cell (4.30 ml/mm3) of fish fed diet FUP100 was not significantly different from 4.13 ml/mm3 of fish fed diet FUP50. The highest percentage profit of 88.85% in fish fed diet FUP100 was significantly higher than 66.68% in fish fed diet FUP0 while the profit index of 1.89 in fish fed diet FUP100 was significantly different from 1.67 in fish fed diet FUP0. Therefore, fermented unripe plantain peel meal can completely replace maize in the diet of O. niloticus fingerlings.Keywords: fermentation, fish diets, plantain peel, tilapia
Procedia PDF Downloads 537474 Amelioration of Over-Expression of bax, Nrf2 and NFК–β in Nano-Sized Titanium Dioxide-Intoxicated Mice by Potent Antioxidants
Authors: Maha Z. Rizk, Sami A. Fattah, Heba M. Darwish, Sanaa A. Ali, Mai O. Kadry
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The increasing use of nanomaterials in consumer and industrial products has aroused global concern regarding their fate in biological systems resulting in demand for parallel risk assessment. The objective of this study is investigating either the effect of individual or combined doses of idebenone, carnosine and vitamin E on amelioration of some biochemical indices of nano sized titanium dioxide (TiO2 NPS) induced metabolic disorders in mice liver. TiO2-NPS was administered in an oral dose of 150 mg/kg for consecutive 14 days followed by oral daily doses of the aforementioned antioxidants for 1 month. TiO2-NPS induced a significant elevation in serum level of ALT and AST, hepatic inflammatory markers (tumor necrosis factor-α (TNF-α) and interleukin-6 (IL-6)) and increased the percent of DNA damage which was assessed by COMET assay in addition to the apoptotic marker Caspase-3. Moreover, mRNA gene expression observed by RT-PCR showed a significant overexpression in nuclear factor relation-2 (Nrf2), nuclear factor kappa beta (NF-Kβ) and the apoptotic factor (bax), and a significant down-regulation in the antiapoptotic factor (bcl2) level. In conclusion, idebenone, carnosine and vitamin E ameliorated the deviated parameters with a variable degree with the most pronounced role in alleviating the hazardous effect of TiO2 NPS toxicity following the combination regimen.Keywords: idebenone, carnosine, vitamin E, TiO2 NPS, caspase-3, NrF2, NF-KB
Procedia PDF Downloads 386473 Wet Processing of Algae for Protein and Carbohydrate Recovery as Co-Product of Algal Oil
Authors: Sahil Kumar, Rajaram Ghadge, Ramesh Bhujade
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Historically, lipid extraction from dried algal biomass remained a focus area of the algal research. It has been realized over the past few years that the lipid-centric approach and conversion technologies that require dry algal biomass have several challenges. Algal culture in cultivation systems contains more than 99% water, with algal concentrations of just a few hundred milligrams per liter ( < 0.05 wt%), which makes harvesting and drying energy intensive. Drying the algal biomass followed by extraction also entails the loss of water and nutrients. In view of these challenges, focus has shifted toward developing processes that will enable oil production from wet algal biomass without drying. Hydrothermal liquefaction (HTL), an emerging technology, is a thermo-chemical conversion process that converts wet biomass to oil and gas using water as a solvent at high temperature and high pressure. HTL processes wet algal slurry containing more than 80% water and significantly reduces the adverse cost impact owing to drying the algal biomass. HTL, being inherently feedstock agnostic, i.e., can convert carbohydrates and proteins also to fuels and recovers water and nutrients. It is most effective with low-lipid (10--30%) algal biomass, and bio-crude yield is two to four times higher than the lipid content in the feedstock. In the early 2010s, research remained focused on increasing the oil yield by optimizing the process conditions of HTL. However, various techno-economic studies showed that simply converting algal biomass to only oil does not make economic sense, particularly in view of low crude oil prices. Making the best use of every component of algae is a key for economic viability of algal to oil process. On investigation of HTL reactions at the molecular level, it has been observed that sequential HTL has the potential to recover value-added products along with biocrude and improve the overall economics of the process. This potential of sequential HTL makes it a most promising technology for converting wet waste to wealth. In this presentation, we will share our experience on the techno-economic and engineering aspects of sequential HTL for conversion of algal biomass to algal bio-oil and co-products.Keywords: algae, biomass, lipid, protein
Procedia PDF Downloads 216472 Platelet Indices among the Cases of Vivax Malaria
Authors: Mirza Sultan Ahmad, Mubashra Ahmad, Ramlah Mehmood, Nazia Mahboob, Waqar Nasir
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Objective: To ascertain the prevalence of thrombocytopenia and study changes in MPV and PDW among cases of vivax malaria. Design: Descriptive analytic study. Place and duration of study: Department of pediatrics, Fazle Omar Hospital, from January to December 2012. Methodology: All patients from birth to 16 years age, who presented in Fazle- Omar hospital, Rabwah from January to December 2012 were included in this study. Hundred patients with other febrile illnesses were taken as control. Full blood counts were checked by Madonic CA 620 analyzer. Name, age, sex, weight, platelet counts. MPV, PDW, any evidence of bleeding, outcome of cases included in this study and taken as control were recorded on data sheets. Results: One hundred and forty-two patients were included in this study. There was no incidence of death or active bleeding. Median platelet count was 109000/mm3. Thrombocytopenia was present in 108 (76.1%) patients. Severe thrombocytopenia was present in 10(7%) patients. Minimum count was 27000/mm3 and maximum was 341000/mm3. Platelet counts of control group was significantly more as compared with study group.(p<.001) Median MPV was 8.70. Minimum value was 6.40 and maximum was 11.90. MPV of study group was significantly more than control group.(p<.001) Median PDW was 11.30. Minimum value was 8.5 and maximum was 16.70. There was no difference between PDW of study and control groups (p=0.246). Conclusions: Thrombocytopenia is a common complication among pediatric cases of vivax malaria. MPV of cases of vivax malaria is higher than control group.Keywords: malaria vivax, platelet, mean platelet volume, thrombocytopenia
Procedia PDF Downloads 399471 Civic Engagement and Political Participation in Bangladesh
Authors: Syeda Salina Aziz, Tanvir Ahmed Mozumder
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Citizenship is an important concept of democracy which broadly defines the relationship between the state and its citizens; at the same time, it analyzes the rights and duties of a citizen. The universal citizenship principle demands that citizens should be aware of the political system, possess democratic attitudes, and join the political activity. Bangladesh presents an interesting case for democracy; the democratic practices in the country have been long introduced, have been interrupted several times, and the democratic values and practices have yet to be established in the country. These transitions have influenced citizens’ ideologies and participation in decision-making and also shaped their expectations differently. In this backdrop, this paper aims to understand and explain the citizenship behavior of Bangladeshi nationals. Based on nationally representative household survey data of 4000 respondents, this paper creates a composite citizenship index which is a combination of three separate indices, including participation index, knowledge and awareness index, and ideology index. The paper then tries to explain the factors that affect the citizenship index. Using fixed effect regression analysis, the paper intends to explore the association between citizenship and socio-demographic variables, including education, location, gender, and exposure to the media of respondents. Additionally, using national election polls, the paper creates a variable to measure long-term support towards the current ruling party and tests whether and how this affects the citizenship variables.Keywords: citizenship, political participation, Bangladesh, stronghold
Procedia PDF Downloads 82470 Voltage Stability Margin-Based Approach for Placement of Distributed Generators in Power Systems
Authors: Oludamilare Bode Adewuyi, Yanxia Sun, Isaiah Gbadegesin Adebayo
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Voltage stability analysis is crucial to the reliable and economic operation of power systems. The power system of developing nations is more susceptible to failures due to the continuously increasing load demand, which is not matched with generation increase and efficient transmission infrastructures. Thus, most power systems are heavily stressed, and the planning of extra generation from distributed generation sources needs to be efficiently done so as to ensure the security of the power system. Some voltage stability index-based approach for DG siting has been reported in the literature. However, most of the existing voltage stability indices, though sufficient, are found to be inaccurate, especially for overloaded power systems. In this paper, the performance of a relatively different approach using a line voltage stability margin indicator, which has proven to have better accuracy, has been presented and compared with a conventional line voltage stability index for DG siting using the Nigerian 28 bus system. Critical boundary index (CBI) for voltage stability margin estimation was deployed to identify suitable locations for DG placement, and the performance was compared with DG placement using the Novel Line Stability Index (NLSI) approach. From the simulation results, both CBI and NLSI agreed greatly on suitable locations for DG on the test system; while CBI identified bus 18 as the most suitable at system overload, NLSI identified bus 8 to be the most suitable. Considering the effect of the DG placement at the selected buses on the voltage magnitude profile, the result shows that the DG placed on bus 18 identified by CBI improved the performance of the power system better.Keywords: voltage stability analysis, voltage collapse, voltage stability index, distributed generation
Procedia PDF Downloads 93469 Effects of Some Factors Affecting Optimum Reproductive Capacity of Local Breeds of Sheep in Nigeria
Authors: D. Zahraddeen, N. M. Lemu, P. P. Barje, I. S. R. Butswat
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This study was conducted to investigate some of the factors affecting the optimum reproductive capacity of the indigenous breeds of sheep in Nigeria. A total of 767 sheep of different breeds were investigated. The reproductive indices considered were birth/weaning weights, litter size, parity, mortality, reproductive problems/disorders, body condition score (BCS), as well as growth traits. The results showed that litter size, parity, and BCS had significant (p < 0.05) effects on birth/weaning weights, mortality rates and growth traits of the sheep breeds studied. Similarly, the rearing method/system significantly (p < 0.05) influenced other reproductive traits such as birth/weaning weights, mortality, growth performance of lambs. However, the major reproductive problems/disorders in the ewes were dystocia (30.94%), retained placenta (16.91%), mastitis (15.83), pregnancy toxaemia (11.51%), uterine prolapse (6.48%) and vaginal prolapse (3.24%). In the rams, the incidence of reproductive problems included cryptorchidism (1.08%), orchitis (2.87%) and scrotal dermatophilosis (1.79%), among others. This study concludes that the four breeds of sheep (Balami, Yankasa, Uda, and West African Dwarf sheep) and their crosses exhibited varied genetic make-up and potentials. However, the large number of sheep farmers practicing the extensive production system might be responsible for the low reproductive performance of this species in the country. It is, therefore, recommended that significant improvement could be achieved through enhanced management practices of these animals.Keywords: sheep, breeds, reproduction, disorders
Procedia PDF Downloads 154468 Refugee Job Seeking Opportunities: It's Not What You Know, It's Who You Know
Authors: Kimberley Kershaw, Denis Hyams-Ssekasi
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Although there is a wealth of information about refugees and Asylum seekers, Refugee job opportunities continue to be one of the most hotly contested areas and less researched within the social sciences. Refugees are a vital asset in the society due to their experiences, skills, and competences. However, society perceives them differently, and as such, their prior lived experiences are often underutilised. This research study gleans from the work conducted during the Refugee Employment Support Clinic delivered for 12 weeks within a University setting in the North West of England. The study is conducted using three perspectives, refugees, students, and researchers, allowing for identification of the challenges encountered by the refugees concerning job opportunities. Through the utilisation of the qualitative research method, the study has found that refugees experience a wide range of issues unrelated to their skills, prior experience, and education but rather due to the red tapes connected to their legal identity labelling. Refugees struggle to build reliable employment networks that appreciate and acknowledge their capabilities and talents, impacting their ability to navigate the labour market and classism. Notably, refugees are misunderstood within their new societies, and little care is taken to understand the unique struggles they face with respect to securing paid work in their industry or field of work due to their lack of experience in the UK. Unlike other European countries, it is evident that the UK has no strategic approach to enhancing the chances of paid or voluntary work for refugees. A clinic like this provided lenses for comprehending how refugees can be better supported with employment related opportunities. By creating a safe and conducive platform for honest and open discussion about employment and through collaborative approaches with local community agencies, doors were opened for social and professional networks to be built. The study concluded that there is a need for local communities and education establishments to be more aware of the prevailing challenges and in a position to support at all stages of their asylum claim in order for the perceptions of distrust and uncertainty around refugees to be minimised.Keywords: refugees, employment, community, classism, education
Procedia PDF Downloads 97467 Hepatoprotective Effects of Parsley, Basil, and Chicory Aqueous Extracts against Dexamethasone-Induced in Experimental Rats
Authors: Hanan A. Soliman, Mohamed A. El-Desouky, Walaa G. Hozayen, Rasha R. Ahmed, Amal K . Khaliefa
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Aim: The objective of this study is to investigate the hypoglycemic, hypolipidemic, and hepatoprotective effects of the aqueous extract of parsley, basil, and chicory whole plant in normal and dexamethasone (Dex) rats. Materials and Methods: 50 female albino rats were used in this study and divided into 5 groups (for each 10). Group (1) fed basal diet and maintained as negative control group. Group (2) received Dex in a dose of (0.1 mg/kg b. wt.). Groups 3, 4, and 5 were treated with Dex along with three different plant extracts of parsley, basil, and chicory (2 g/kg b. wt.), (400 mg/kg b. wt.), and (100 mg/kg b. wt.), respectively. Results: All these groups were treated given three times per week for 8 consecutive weeks. Dex-induced alterations in the levels of serum glucose, triglyceride, cholesterol, low-density lipoprotein-cholesterol levels and cardiovascular indices and serum alanine aminotransferase, aspartate aminotransferase and lactate dehydrogenase activities, liver thiobarbituric acid (TBARS) levels increased, while high-density lipoprotein-cholesterol, total protein, albumin, and liver glutathione (GSH) levels decreased. On the other hand, plant extracts succeeded to modulate these observed abnormalities resulting from Dex as indicated by the reduction of glucose, cholesterol, TBARS, and the pronounced improvement of the investigated biochemical and antioxidant parameters. Conclusions: It was concluded that probably, due to its antioxidant property, parsley, basil, and chicory extracts have hepatoprotective effects in Dex-induced in rats.Keywords: antioxidants, dexamethasone, hyperglycemia, hyperlipidemia
Procedia PDF Downloads 245466 The Ethical Healthcare Paradigm with in Corporate Framework: CSR for Equitable Access to Drugs
Authors: Abhay Vir Singh Kanwar
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The pharmaceutical industry today is a multi-billion dollar business and yet disadvantages people in many corners of the globe who are still dying in large numbers from curable illnesses for lack of access to drugs. The astronomical prices of essential and life-saving drugs is not just an economic problem that can be settled through clever market strategies but is an ethical issue, given the accumulated wealth of today’s humanity and the sense of global justice that it increasingly comes to share. In this paper, I make a very practical argument for what I shall call ‘the ethical healthcare paradigm’, which, I propose, can replace the economistic paradigm that can still drive the healthcare sector without creating spillover effects on the market. Taking off from the ethical-philosophical argument for recognizing every individual’s right to capability to be healthy, I shall come to the focused practical proposal of the cost-rationalization and universal availability of essential, life-saving drugs through the undertaking of research and development funding for drug innovation by the business establishment as such in terms of the concept of CSR. The paper will first expose the concepts of basic and fundamental capabilities in relation to education and health, after which it will focus on the right to capability to be healthy of every person. In the third section, it will discuss the ‘ethical healthcare paradigm’ as opposed to the economistic health paradigm and will argue that the patient will have to be considered the primary stakeholder of this paradigm or the very ‘subject’ of healthcare. The next section will be on an ethical-historical critique of the pharmaceutical industry’s profit driven economism. The section after that will look at the business operation and the stages in the life cycle of a drug that comes to the market in order to understand the risks, strengths and problems of the pharmaceutical industry. Finally, the paper will discuss the concept of CSR in relation to the ethical healthcare paradigm in order to propose CSR funding in research and development for innovation on drugs so that life-saving drugs can be made available to every sick person cost-effectively.Keywords: capability approach, healthcare, CSR, patient
Procedia PDF Downloads 314465 Seismic Performance of Benchmark Building Installed with Semi-Active Dampers
Authors: B. R. Raut
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The seismic performance of 20-storey benchmark building with semi-active dampers is investigated under various earthquake ground motions. The Semi-Active Variable Friction Dampers (SAVFD) and Magnetorheological Dampers (MR) are used in this study. A recently proposed predictive control algorithm is employed for SAVFD and a simple mechanical model based on a Bouc–Wen element with clipped optimal control algorithm is employed for MR damper. A parametric study is carried out to ascertain the optimum parameters of the semi-active controllers, which yields the minimum performance indices of controlled benchmark building. The effectiveness of dampers is studied in terms of the reduction in structural responses and performance criteria. To minimize the cost of the dampers, the optimal location of the damper, rather than providing the dampers at all floors, is also investigated. The semi-active dampers installed in benchmark building effectively reduces the earthquake-induced responses. Lesser number of dampers at appropriate locations also provides comparable response of benchmark building, thereby reducing cost of dampers significantly. The effectiveness of two semi-active devices in mitigating seismic responses is cross compared. Among two semi-active devices majority of the performance criteria of MR dampers are lower than SAVFD installed with benchmark building. Thus the performance of the MR dampers is far better than SAVFD in reducing displacement, drift, acceleration and base shear of mid to high-rise building against seismic forces.Keywords: benchmark building, control strategy, input excitation, MR dampers, peak response, semi-active variable friction dampers
Procedia PDF Downloads 286464 Bounded Rational Heterogeneous Agents in Artificial Stock Markets: Literature Review and Research Direction
Authors: Talal Alsulaiman, Khaldoun Khashanah
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In this paper, we provided a literature survey on the artificial stock problem (ASM). The paper began by exploring the complexity of the stock market and the needs for ASM. ASM aims to investigate the link between individual behaviors (micro level) and financial market dynamics (macro level). The variety of patterns at the macro level is a function of the AFM complexity. The financial market system is a complex system where the relationship between the micro and macro level cannot be captured analytically. Computational approaches, such as simulation, are expected to comprehend this connection. Agent-based simulation is a simulation technique commonly used to build AFMs. The paper proceeds by discussing the components of the ASM. We consider the roles of behavioral finance (BF) alongside the traditionally risk-averse assumption in the construction of agent's attributes. Also, the influence of social networks in the developing of agents’ interactions is addressed. Network topologies such as a small world, distance-based, and scale-free networks may be utilized to outline economic collaborations. In addition, the primary methods for developing agents learning and adaptive abilities have been summarized. These incorporated approach such as Genetic Algorithm, Genetic Programming, Artificial neural network and Reinforcement Learning. In addition, the most common statistical properties (the stylized facts) of stock that are used for calibration and validation of ASM are discussed. Besides, we have reviewed the major related previous studies and categorize the utilized approaches as a part of these studies. Finally, research directions and potential research questions are argued. The research directions of ASM may focus on the macro level by analyzing the market dynamic or on the micro level by investigating the wealth distributions of the agents.Keywords: artificial stock markets, market dynamics, bounded rationality, agent based simulation, learning, interaction, social networks
Procedia PDF Downloads 355463 Thermal Comfort Study of School Buildings in South Minahasa Regency Case Study: SMA Negeri 1 Amurang, Indonesia
Authors: Virgino Stephano Moniaga
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Thermal comfort inside a building can affect students in their learning process. The learning process of students can be improved if the condition of the classrooms is comfortable. This study will be conducted in SMA Negeri 1 Amurang which is a senior high school building located in South Minahasa Regency. Based on preliminary survey, generally, students were not satisfied with the existing level of comfort, which subsequently affected the teaching and learning process in the classroom. The purpose of this study is to analyze the comfort level of classrooms occupants and recommend building design solutions that can improve the thermal comfort of classrooms. In this study, three classrooms will be selected for thermal comfort measurements. The thermal comfort measurements will be taken in naturally ventilated classrooms. The measured data comprise of personal data (clothing and students activity), air humidity, air temperature, mean radiant temperature and air flow velocity. Simultaneously, the students will be asked to fill out a questionnaire that asked about the level of comfort that was felt at the time. The results of field measurements and questionnaires will be analyzed based on the PMV and PPD indices. The results of the analysis will decide whether the classrooms are comfortable or not. This study can be continued to obtain a more optimal design solution to improve the thermal comfort of the classrooms. The expected results from this study can improve the quality of teaching and learning process between teachers and students which can further assist the government efforts to improve the quality of national education.Keywords: classrooms, PMV, PPD, thermal comfort
Procedia PDF Downloads 316462 Hidden Hot Spots: Identifying and Understanding the Spatial Distribution of Crime
Authors: Lauren C. Porter, Andrew Curtis, Eric Jefferis, Susanne Mitchell
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A wealth of research has been generated examining the variation in crime across neighborhoods. However, there is also a striking degree of crime concentration within neighborhoods. A number of studies show that a small percentage of street segments, intersections, or addresses account for a large portion of crime. Not surprisingly, a focus on these crime hot spots can be an effective strategy for reducing community level crime and related ills, such as health problems. However, research is also limited in an important respect. Studies tend to use official data to identify hot spots, such as 911 calls or calls for service. While the use of call data may be more representative of the actual level and distribution of crime than some other official measures (e.g. arrest data), call data still suffer from the 'dark figure of crime.' That is, there is most certainly a degree of error between crimes that occur versus crimes that are reported to the police. In this study, we present an alternative method of identifying crime hot spots, that does not rely on official data. In doing so, we highlight the potential utility of neighborhood-insiders to identify and understand crime dynamics within geographic spaces. Specifically, we use spatial video and geo-narratives to record the crime insights of 36 police, ex-offenders, and residents of a high crime neighborhood in northeast Ohio. Spatial mentions of crime are mapped to identify participant-identified hot spots, and these are juxtaposed with calls for service (CFS) data. While there are bound to be differences between these two sources of data, we find that one location, in particular, a corner store, emerges as a hot spot for all three groups of participants. Yet it does not emerge when we examine CFS data. A closer examination of the space around this corner store and a qualitative analysis of narrative data reveal important clues as to why this store may indeed be a hot spot, but not generate disproportionate calls to the police. In short, our results suggest that researchers who rely solely on official data to study crime hot spots may risk missing some of the most dangerous places.Keywords: crime, narrative, video, neighborhood
Procedia PDF Downloads 238461 Viewers’ Reactions to Excessive Ritual Themes in Nigerian Home Videos: A Portharcourt City Survey
Authors: Godwin Bassey Okon
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The need to streamline viewers’ disposition towards the predominant portrayal of rituals, in most Nigerian home videos, as a way of life in the southern part of Nigeria necessitated this study. The focus however was on ascertaining if such portrayals dovetail within the framework of construction of social reality or misconstruction of social reality. In other words, do the people of the southern part of Nigeria engage in rituals as a means of acquiring wealth or do they merely have proclivity for diabolism, as frequently portrayed in home videos subsumed in their socio-cultural settings? The method of study was survey with the questionnaire as the predominant instrument. The questionnaire was used to elicit responses from Portharcourt city residents on their views and reactions in the light of ritual themes in Nigerian home videos. The choice of Portharcourt was informed by the fact that it is a foremost cosmopolitan city in the south. A Sample size of 400 was drawn from a population of 1,382,392 using Taro Yamane’s formula. Actual respondents were reached using a multi-stage cluster sampling technique. The reliability of the instrument as ascertained through Pearson’s Product Moment Correlation stood at 0.89. Findings however revealed that ritual themes, as used in Nigerian home videos, did not significantly reflect the cultural heritage of the people of southern Nigeria. Findings further showed that their excessive use in Nigerian home videos served only to create frills and thrills in plots. A synthesis of the foregoing, however, revealed that viewers are not favourably disposed towards the excessive use of ritual themes since they inadvertently portray the cultural heritage of the people of the south in the negative. To this end, it was recommended that producers of Nigerian home videos should focus more on themes that serve to construct social reality while projecting favorably the rich cultural heritage of the people. In terms of contribution to knowledge, the findings of this study tend to reinforce the notion of film as a conveyor belt in cognitive constructs.Keywords: disposition, home videos, ritual, social reality, themes
Procedia PDF Downloads 382460 Markowitz and Implementation of a Multi-Objective Evolutionary Technique Applied to the Colombia Stock Exchange (2009-2015)
Authors: Feijoo E. Colomine Duran, Carlos E. Peñaloza Corredor
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There modeling component selection financial investment (Portfolio) a variety of problems that can be addressed with optimization techniques under evolutionary schemes. For his feature, the problem of selection of investment components of a dichotomous relationship between two elements that are opposed: The Portfolio Performance and Risk presented by choosing it. This relationship was modeled by Markowitz through a media problem (Performance) - variance (risk), ie must Maximize Performance and Minimize Risk. This research included the study and implementation of multi-objective evolutionary techniques to solve these problems, taking as experimental framework financial market equities Colombia Stock Exchange between 2009-2015. Comparisons three multiobjective evolutionary algorithms, namely the Nondominated Sorting Genetic Algorithm II (NSGA-II), the Strength Pareto Evolutionary Algorithm 2 (SPEA2) and Indicator-Based Selection in Multiobjective Search (IBEA) were performed using two measures well known performance: The Hypervolume indicator and R_2 indicator, also it became a nonparametric statistical analysis and the Wilcoxon rank-sum test. The comparative analysis also includes an evaluation of the financial efficiency of the investment portfolio chosen by the implementation of various algorithms through the Sharpe ratio. It is shown that the portfolio provided by the implementation of the algorithms mentioned above is very well located between the different stock indices provided by the Colombia Stock Exchange.Keywords: finance, optimization, portfolio, Markowitz, evolutionary algorithms
Procedia PDF Downloads 302459 Genomic and Proteomic Variation in Glycine Max Genotypes towards Salinity
Authors: Faheema Khan
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In order to investigate the influence of genetic background on salt tolerance in Soybean (Glycine max) ten soybean genotypes released/notified in India were selected. (Pusa-20, Pusa-40, Pusa-37, Pusa-16, Pusa-24, Pusa-22, BRAGG, PK-416, PK-1042, and DS-9712). The 10-day-old seedlings were subjected to 0, 25, 50, 75, 100, 125, and 150 mM NaCl for 15 days. Plant growth, leaf osmotic adjustment, and RAPD analysis were studied. In comparison to control plants, the plant growth in all genotypes was decreased by salt stress, respectively. Salt stress decreased leaf osmotic potential in all genotypes however the maximum reduction was observed in genotype Pusa-24 followed by PK-416 and Pusa-20. The difference in osmotic adjustment between all the genotypes was correlated with the concentrations of ion examined such as Na+ and the leaf proline concentration. These results suggest that the genotypic variation for salt tolerance can be partially accounted for by plant physiological measures. The genetic polymorphisms between soybean genotypes differing in response to salt stress were characterized using 25 RAPD primers. These primers generated a total of 1640 amplification products, among which 1615 were found to be polymorphic. A very high degree of polymorphism (98.30%) was observed. UPGMA cluster analysis of genetic similarity indices grouped all the genotypes into two major clusters. Intra-clustering within the two clusters precisely grouped the 10 genotypes in sub-cluster as expected from their physiological findings. Our results show that RAPD technique is a sensitive, precise and efficient tool for genomic analysis in soybean genotypes.Keywords: glycine max, NaCl, RAPD, proteomics
Procedia PDF Downloads 586458 Measurement of Echocardiographic Ejection Fraction Reference Values and Evaluation between Body Weight and Ejection Fraction in Domestic Rabbits (Oryctolagus cuniculus)
Authors: Reza Behmanesh, Mohammad Nasrolahzadeh-Masouleh, Ehsan Khaksar, Saeed Bokaie
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Domestic rabbits (Oryctolagus cuniculus) are an excellent model for cardiovascular research because the size of these animals is more suitable for study and experimentation than smaller animals. One of the most important diagnostic imaging methods is echocardiography, which is used today to evaluate the anatomical and functional cardiovascular system and is one of the most accurate and sensitive non-invasive methods for examining heart disease. Ventricular function indices can be assessed with cardiac imaging techniques. One of these important cardiac parameters is the ejection fraction (EF), which has a valuable place along with other involved parameters. EF is a measure of the percentage of blood that comes out of the heart with each contraction. For this study, 100 adult and young standard domestic rabbits, six months to one year old and of both sexes (50 female and 50 male rabbits) without anesthesia and sedation were used. In this study, the mean EF in domestic rabbits studied in males was 58.753 ± 6.889 and in females, 61.397 ± 6.530, which are comparable to the items mentioned in the valid books and the average size of EF measured in this study; there is no significant difference between this research and other research. There was no significant difference in the percentage of EF between most weight groups, but there was a significant difference (p < 0.05) in weight groups (2161–2320 g and 2481–2640 g). Echocardiographic EF reference values for domestic rabbits (Oryctolagus cuniculus) non-anesthetized are presented, providing reference values for future studies.Keywords: echocardiography, ejection fraction, rabbit, heart
Procedia PDF Downloads 93457 Optimal Design of Multi-Machine Power System Stabilizers Using Interactive Honey Bee Mating Optimization
Authors: Hossein Ghadimi, Alireza Alizadeh, Oveis Abedinia, Noradin Ghadimi
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This paper presents an enhanced Honey Bee Mating Optimization (HBMO) to solve the optimal design of multi machine power system stabilizer (PSSs) parameters, which is called the Interactive Honey Bee Mating Optimization (IHBMO). Power System Stabilizers (PSSs) are now routinely used in the industry to damp out power system oscillations. The design problem of the proposed controller is formulated as an optimization problem and IHBMO algorithm is employed to search for optimal controller parameters. The proposed method is applied to multi-machine power system (MPS). The method suggested in this paper can be used for designing robust power system stabilizers for guaranteeing the required closed loop performance over a prespecified range of operating and system conditions. The simplicity in design and implementation of the proposed stabilizers makes them better suited for practical applications in real plants. The non-linear simulation results are presented under wide range of operating conditions in comparison with the PSO and CPSS base tuned stabilizer one through FD and ITAE performance indices. The results evaluation shows that the proposed control strategy achieves good robust performance for a wide range of system parameters and load changes in the presence of system nonlinearities and is superior to the other controllers.Keywords: power system stabilizer, IHBMO, multimachine, nonlinearities
Procedia PDF Downloads 507456 Contrasted Mean and Median Models in Egyptian Stock Markets
Authors: Mai A. Ibrahim, Mohammed El-Beltagy, Motaz Khorshid
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Emerging Markets return distributions have shown significance departure from normality were they are characterized by fatter tails relative to the normal distribution and exhibit levels of skewness and kurtosis that constitute a significant departure from normality. Therefore, the classical Markowitz Mean-Variance is not applicable for emerging markets since it assumes normally-distributed returns (with zero skewness and kurtosis) and a quadratic utility function. Moreover, the Markowitz mean-variance analysis can be used in cases of moderate non-normality and it still provides a good approximation of the expected utility, but it may be ineffective under large departure from normality. Higher moments models and median models have been suggested in the literature for asset allocation in this case. Higher moments models have been introduced to account for the insufficiency of the description of a portfolio by only its first two moments while the median model has been introduced as a robust statistic which is less affected by outliers than the mean. Tail risk measures such as Value-at Risk (VaR) and Conditional Value-at-Risk (CVaR) have been introduced instead of Variance to capture the effect of risk. In this research, higher moment models including the Mean-Variance-Skewness (MVS) and Mean-Variance-Skewness-Kurtosis (MVSK) are formulated as single-objective non-linear programming problems (NLP) and median models including the Median-Value at Risk (MedVaR) and Median-Mean Absolute Deviation (MedMAD) are formulated as a single-objective mixed-integer linear programming (MILP) problems. The higher moment models and median models are compared to some benchmark portfolios and tested on real financial data in the Egyptian main Index EGX30. The results show that all the median models outperform the higher moment models were they provide higher final wealth for the investor over the entire period of study. In addition, the results have confirmed the inapplicability of the classical Markowitz Mean-Variance to the Egyptian stock market as it resulted in very low realized profits.Keywords: Egyptian stock exchange, emerging markets, higher moment models, median models, mixed-integer linear programming, non-linear programming
Procedia PDF Downloads 315455 Poverty Alleviation and Agricultural Management Policies in Nasarawa State of Nigeria: Lessons from the Roots and Tuber Crops Expansion for Increased Food Production (1996-2011)
Authors: Yahaya Abdullahi Adadu, Canice Erunke Esidene
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The problems of socio-economic development have been a major challenge bedeviling the Nigerian post-colonial state since her political independence from Britain in October I,1960. Critics have argued that the dilemma of Nigeria’s economic survival started since the early 1970s when the agricultural sector which supposedly was the economic mainstay has been literally substituted with the gains of the oil petro-dollars coming from the foreign exchange earnings. Agriculture therefore, which used to be a major player in terms of human and national upliftment in Nigeria have been given a back seat while oil and gas has taken over the front burner in virtually every aspect of Nigeria’s national life. This study is therefore an exposition of the efforts of the Nasarawa state government in reversing the dangerous trend in which the over reliance on oil wealth has caused to persons, individuals and groups in terms of the prevailing levels of poverty and other attendant vices therein. The study focuses on the management policies of the various regimes in the state since its inception in 1996, with particular reference to the regime types-military and civilian alike in propelling the needed policy change, which could transform the economy in line with international best practices. Particular emphasis will be paid to the BADA-KOSHI agricultural scheme whose interest was to recover the lost glory of rural agriculture through series of roots and tuber expansion, and particularly such crops as yam minissetts, cassava, sweet potatoes and coco-yam, respectively. The paper covers the period between 1996 -2011, a period considered to be critical in the agricultural revolution of the state. The study adopts a theoretical approach via secondary methods of analysis for the efficient explanations of the burning issues under consideration. The paper sums up with policy recommendations and conclusion.Keywords: poverty, agriculture, Badakoshi, rural policy management
Procedia PDF Downloads 445454 Political Economy in Climate Change Adaptation Efforts: Exploring Enclosure, Exclusion, Encroachment, and Entrenchment from the Case of Bangladesh
Authors: Shafiqul Islam, Cordia Chu
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Bangladesh contributes little to global climate change, yet it is one of the countries most vulnerable to climate change. Based on semi-structured in-depth interviews and literature review, focusing public spending distribution process, this paper demonstrates how the processes of political economy- enclosure, exclusion, encroachment, and entrenchment hinder the Climate Change Adaptation (CCA) efforts of Bangladesh Climate Change Trust Fund (BCCTF). Enclosure refers to when CCA projects allocated to less vulnerable areas or expand the roles of influencing actors into the public sphere. Exclusion refers to when CCA projects limit affected people's access to resources or marginalize particular stakeholders in decision-making activities. Encroachment refers to when allocation of CCA projects and selection of location and issues degrade the environmental affect or contribute to other forms of disaster risk. Entrenchment refers to when CCA projects aggravate the disempowerment of common people worsen the concentrations of wealth and income inequality within a community. In the case of Bangladesh, climate change policies implemented under the country’s National Adaptation Program of Action (NAPA) and Bangladesh Climate Change Strategic Action Plan (BCCSAP) have somehow enabled influential-elites to mobilize and distribute resources through bureaucracies. Exclusionary forms of fund distribution of CCA exist at both the national and local scales. CCA related allocations have encroached through the low land areas development project without consulting local needs. Most severely, CCA related unequal allocations have entrenched social class trapping the backward communities vulnerable to climate related disasters. Planners and practitioners of BCCTF need to take necessary steps to eliminate the potential risks from the processes of enclosure, exclusion, encroachment, and entrenchment happens in project fund allocations.Keywords: Bangladesh, climate change adaptation, political economy, public fund distribution
Procedia PDF Downloads 144453 Robust Heart Rate Estimation from Multiple Cardiovascular and Non-Cardiovascular Physiological Signals Using Signal Quality Indices and Kalman Filter
Authors: Shalini Rankawat, Mansi Rankawat, Rahul Dubey, Mazad Zaveri
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Physiological signals such as electrocardiogram (ECG) and arterial blood pressure (ABP) in the intensive care unit (ICU) are often seriously corrupted by noise, artifacts, and missing data, which lead to errors in the estimation of heart rate (HR) and incidences of false alarm from ICU monitors. Clinical support in ICU requires most reliable heart rate estimation. Cardiac activity, because of its relatively high electrical energy, may introduce artifacts in Electroencephalogram (EEG), Electrooculogram (EOG), and Electromyogram (EMG) recordings. This paper presents a robust heart rate estimation method by detection of R-peaks of ECG artifacts in EEG, EMG & EOG signals, using energy-based function and a novel Signal Quality Index (SQI) assessment technique. SQIs of physiological signals (EEG, EMG, & EOG) were obtained by correlation of nonlinear energy operator (teager energy) of these signals with either ECG or ABP signal. HR is estimated from ECG, ABP, EEG, EMG, and EOG signals from separate Kalman filter based upon individual SQIs. Data fusion of each HR estimate was then performed by weighing each estimate by the Kalman filters’ SQI modified innovations. The fused signal HR estimate is more accurate and robust than any of the individual HR estimate. This method was evaluated on MIMIC II data base of PhysioNet from bedside monitors of ICU patients. The method provides an accurate HR estimate even in the presence of noise and artifacts.Keywords: ECG, ABP, EEG, EMG, EOG, ECG artifacts, Teager-Kaiser energy, heart rate, signal quality index, Kalman filter, data fusion
Procedia PDF Downloads 696452 Effect of 10 Weeks of Aerobic Exercise Training on Serum Concentrations of Surfactant Protein D and Insulin Resistance in Women with Type 2 Diabetes
Authors: Sajjad Rezaei, Mahdieh Molanouri Shamsi, Azadeh Jamali
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Background and purpose: Surfactant protein D (SP-D) is a lung-specific protein that is detectable in human plasma. Effect of exercise training on SP-D levels as well as its relation to metabolic indices is not known. The present study then aimed to investigate the effects of 10 weeks of aerobic training on serum levels of SP-D and insulin resistance in women with type 2 diabetes. Materials and methods: Twenty-two overweight women with type 2 diabetes mellitus were recruited through deliberate sampling and randomly assigned to intervention and control groups (11 in each group). The intervention group underwent a progressive aerobic training program for 10 weeks, 3 days per week, 30-55 min/day at 50-75% heart rate reserve (HRR). Control group continued with its everyday routine. Blood samples were obtained before and after training for biochemical analysis. Within-group and between-group differences were analyzed with paired and independent t-tests in spss software, respectively, and the relation between variables was analyzed with Pearson’s correlation coefficient (all at P = 0.05). Results: Significant differences were observed between groups in leptin, glucose, waist circumference and VO2 max after training. SP-D was decreased and VO2 max was increased significantly in intervention group. However, no significant correlation was observed between SP-D and other variables. Conclusion: Since there was no corresponding decrease in insulin resistance with decreased levels of SP-D, it seems unlikely for SP-D to mediate the association between obesity and insulin resistance in type 2 diabetics.Keywords: exercise training, SP-D, insulin resistance, type 2 diabetes
Procedia PDF Downloads 418451 The Effects of Three Months of HIIT on Plasma Adiponectin on Overweight College Men
Authors: M. J. Pourvaghar, M. E. Bahram, M. Sayyah, Sh. Khoshemehry
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Adiponectin is a cytokine secreted by the adipose tissue that functions as an anti-inflammatory, antiathrogenic and anti-diabetic substance. Its density is inversely correlated with body mass index. The purpose of this research was to examine the effect of 12 weeks of high intensity interval training (HIIT) with the level of serum adiponectin and some selected adiposity markers in overweight and fat college students. This was a clinical research in which 24 students with BMI between 25 kg/m2 to 30 kg/m2. The sample was purposefully selected and then randomly assigned into two groups of experimental (age =22.7±1.5 yr.; weight = 85.8±3.18 kg and height =178.7±3.29 cm) and control (age =23.1±1.1 yr.; weight = 79.1±2.4 kg and height =181.3±4.6 cm), respectively. The experimental group participated in an aerobic exercise program for 12 weeks, three sessions per weeks at a high intensity between 85% to 95% of maximum heart rate (considering the over load principle). Prior and after the termination of exercise protocol, the level of serum adiponectin, BMI, waist to hip ratio, and body fat percentages were calculated. The data were analyzed by using SPSS: PC 16.0 and statistical procedure such as ANCOVA, was used. The results indicated that 12 weeks of intensive interval training led to the increase of serum adiponectin level and decrease of body weight, body fat percent, body mass index and waist to hip ratio (P < 0.05). Based on the results of this research, it may be concluded that participation in intensive interval training for 12 weeks is a non-invasive treatment to increase the adiponectin level while decreasing some of the anthropometric indices associated with obesity or being overweight.Keywords: adiponectin, cardiovascular, interval, overweight, training
Procedia PDF Downloads 318450 Moderating Effects of Family Ownership on the Relationship between Corporate Governance Mechanisms and Financial Performance of Publicly Listed Companies in Nigeria
Authors: Ndagi Salihu
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Corporate governance mechanisms are the control measures for ensuring that all the interests groups are equally represented and management are working towards wealth creation in the interest of all. Therefore, there are many empirical studies during the last three decades on corporate governance and firm performance. However, little is known about the effects of family ownership on the relationship between corporate governance and firm performance, especially in the developing economy like Nigeria. This limit our understanding of the unique governance dynamics of family ownership with regards firm performance. This study examined the impact of family ownership on the relationship between governance mechanisms and financial performance of publicly listed companies in Nigeria. The study adopted quantitative research methodology using correlational ex-post factor design and secondary data from annual reports and accounts of a sample of 23 listed companies for a period of 5 years (2014-2018). The explanatory variables are the board size, board composition, board financial expertise, and board audit committee attributes. Financial performance is proxy by Return on Assets (ROA) and Return on Equity (ROE). Multiple panel regression technique of data analysis was employed in the analysis, and the study found that family ownership has a significant positive effect on the relationships between corporate governance mechanisms and financial performance of publicly listed firms in Nigeria. This finding is the same for both the ROA and ROE. However, the findings indicate that board size, board financial expertise, and board audit committee attributes have a significant positive impact on the ROA and ROE of the sample firms after the moderation. Moreover, board composition has significant positive effect on financial performance of the sample listed firms in terms of ROA and ROE. The study concludes that the use of family ownership in the control of firms in Nigeria could improve performance by reducing the opportunistic actions managers as well as agency problems. The study recommends that publicly listed companies in Nigeria should allow significant family ownership of equities and participation in management.Keywords: profitability, board characteristics, agency theory, stakeholders
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