Search results for: control of financial flows

Authors: Wasfi Al Salamat, Shaker Al-Kharouf

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This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks.

Keywords: capital adequacy, financial stability, non-performing loans, number of returned checks, ASE

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Authors: Pichamon Chansuchai

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The objective of this research were to investigate electronic payment system on the internet and offer the guidelines for proper internal control of the payment system based on international standard security control (ISO/IEC 17799:2005),in a case study of payment of the internet, Thailand. The guidelines covered five important areas: (1) business requirement for access control, (2) information systems acquisition, development and maintenance, (3) information security incident management, (4) business continuity management, and (5) compliance with legal requirement. The findings from this qualitative study revealed the guidelines for proper internet control that were more reliable and allow the same line of business to implement the same system of control.

Keywords: audit, best practice, internet, payment

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Authors: Brian Basvi

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A technique for analyzing a security's intrinsic value is called fundamental analysis. It involves looking at relevant financial, economic, and other qualitative and quantitative aspects. Earnings Per Share (EPS), a crucial metric in fundamental analysis, is calculated by dividing a company's net income by the total number of outstanding shares. With more than 70 listed businesses, the Zimbabwe Stock Exchange (ZSE) is the primary stock exchange in Zimbabwe. This study applies the EPS financial ratio and stock valuation techniques to historical stock data from 68 companies listed on the Zimbabwe Stock Exchange. According to a ZSE study, EPS significantly affects share prices that are listed on the market. The study's objective was to assess how fundamental analysis affected the idea of EPS in ZSE stock valuation. It concluded that EPS is an important consideration for investors when they make judgments about their investments. According to the study's findings, fundamental analysis is a useful tool for ZSE investors since it offers insightful information about a company's financial performance and aids in decision-making. Investors can have a better understanding of a company's underlying worth and prospects for future growth by looking into EPS and other basic aspects.

Keywords: fundamental analysis, stock valuation, EPS, share pricing

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Authors: Hadi Adibi-Asl, Alireza Doosthosseini, Amir Taghavipour

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This paper studies the design of an adaptive control strategy to tune an active steering system for better drivability and maneuverability. In the first step, adaptive control strategy is applied to estimate the uncertain parameters on-line (e.g. cornering stiffness), then the estimated parameters are fed into the pole placement controller to generate corrective feedback gain to improve the steering system dynamic’s characteristics. The simulations are evaluated for three types of road conditions (dry, wet, and icy), and the performance of the adaptive pole placement control (APPC) are compared with pole placement control (PPC) and a passive system. The results show that the APPC strategy significantly improves the yaw rate and side slip angle of a bicycle plant model.

Keywords: adaptive control, active steering, pole placement, vehicle dynamics

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Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

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This paper offered the primary methodical proof on how CSR reporting related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprise from 2006 to 2020 over two decades in the China Stock Market and Accounting Research database, we found initial evidence of significant direct relations between CSR reporting and firm corporate performance in both state-owned and privately owned firms over this period, supporting the stakeholder theory. Results also revealed that state-owned enterprises performed as well as private enterprises in the current period. But private enterprises performed better than state-owned enterprises in the subsequent years. Moreover, the release of social responsibility reports had a more significant impact on the financial performance of state-owned and private enterprises in the current period than in the subsequent periods. Specifically, CSR release was not significantly associated with the financial performance of state-owned enterprises on the lag of the first, second, and third periods. But it had an impact on the lag of the first, second, and third periods among private enterprises. Such findings suggested that CSR reporting helped improve the corporate financial performance of state-owned and private enterprises in the current period, but this kind of effect was more significant among private enterprises in the lag periods.

Keywords: China’s listed firms, CSR reporting, financial performance, panel analysis

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Authors: Edokpa Idemudia Waziri, Salisu S. Umar

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The Hotellng’s T^2 is a well-known statistic for detecting a shift in the mean vector of a multivariate normal distribution. Control charts based on T have been widely used in statistical process control for monitoring a multivariate process. Although it is a powerful tool, the T statistic is deficient when the shift to be detected in the mean vector of a multivariate process is small and consistent. The Multivariate Exponentially Weighted Moving Average (MEWMA) control chart is one of the control statistics used to overcome the drawback of the Hotellng’s T statistic. In this paper, the probability distribution of the Average Run Length (ARL) of the MEWMA control chart when the quality characteristics exhibit substantial cross correlation and when the process is in-control and out-of-control was derived using the Markov Chain algorithm. The derivation of the probability functions and the moments of the run length distribution were also obtained and they were consistent with some existing results for the in-control and out-of-control situation. By simulation process, the procedure identified a class of ARL for the MEWMA control when the process is in-control and out-of-control. From our study, it was observed that the MEWMA scheme is quite adequate for detecting a small shift and a good way to improve the quality of goods and services in a multivariate situation. It was also observed that as the in-control average run length ARL0¬ or the number of variables (p) increases, the optimum value of the ARL0pt increases asymptotically and as the magnitude of the shift σ increases, the optimal ARLopt decreases. Finally, we use the example from the literature to illustrate our method and demonstrate its efficiency.

Keywords: average run length, markov chain, multivariate exponentially weighted moving average, optimal smoothing parameter

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Authors: Sani AbdulRahman Bala

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This empirical study delves into the realm of forensic accounting practices within the Nigerian Public Sector, seeking to quantitatively analyze their efficacy in addressing the persistent challenges of fraud and financial irregularities. With a focus on empirical data, this research employs a robust methodology to assess the current state of fraud in the Nigerian Public Sector and evaluate the performance of existing forensic accounting measures. Through quantitative analyses, including statistical models and data-driven insights, the study aims to identify patterns, trends, and correlations associated with fraudulent activities. The research objectives include scrutinizing documented fraud cases, examining the effectiveness of established forensic accounting practices, and proposing data-driven strategies for enhancing fraud detection and prevention. Leveraging quantitative methodologies, the study seeks to measure the impact of technological advancements on forensic accounting accuracy and efficiency. Additionally, the research explores collaborative mechanisms among government agencies, regulatory bodies, and the private sector by quantifying the effects of information sharing on fraud prevention. The empirical findings from this study are expected to provide a nuanced understanding of the challenges and opportunities in combating fraud within the Nigerian Public Sector. The quantitative insights derived from real-world data will contribute to the refinement of forensic accounting strategies, ensuring their effectiveness in addressing the unique complexities of financial irregularities in the public sector. The study's outcomes aim to inform policymakers, practitioners, and stakeholders, fostering evidence-based decision-making and proactive measures for a more resilient and fraud-resistant financial governance system in Nigeria.

Keywords: fraud, financial irregularities, nigerian public sector, quantitative investigation

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Authors: Murad A. Bein

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This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil.

Keywords: crude oil, spillover effects, emerging equity, time-varying, aggregate demand shock

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Authors: Iftikhar Raza

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Well control is the management of the hazardous effects caused by the unexpected release of formation fluid, such as natural gas and/or crude oil, upon surface equipment of oil or gas drilling rigs and escaping into the atmosphere. Technically, oil well control involves preventing the formation fluid, usually referred to as kick, from entering into the wellbore during drilling. Oil well control is one of the most important aspects of drilling operations. Improper handling of kicks in oil well control can result in blowouts with very grave consequences, including the loss of valuable resources. Even though the cost of a blowout (as a result of improper/no oil well control) can easily reach several millions of US dollars, the monetary loss is not as serious as the other damages that can occur: irreparable damage to the environment, waste of valuable resources, ruined equipment, and most importantly, the safety and lives of personnel on the drilling rig. In this paper, case study of a well is discussed with field data showing the properties of the well. The whole procedure of controlling this well is illustrated in this which may be helpful for professional dealing with such kind of problems.

Keywords: kick control, kill sheet, oil well, gas drilling

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Authors: Apedzan Emmanuel Kighir

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This research investigates dividends smoothing among non-financial companies trading on the Nigerian Stock Exchange in an era of unclaimed dividends from 2004 to 2013. There has been a raging controversy among Regulatory Authorities, Company Executives, Registrars of Companies, Shareholders and the general public regarding the increasing incidence of unclaimed dividends in Nigeria. The objective of this study is to find out if corporate earnings management through dividends smoothing is implicated in unclaimed dividends among Nigerian non-financial firms. The research used panel data and employed Generalized Method of Moment as method of analysis. The research finds evidence of dividends-smoothing in this era of unclaimed dividends in Nigeria. The research concludes that dividends-smoothing is a trigger and red flag for unclaimed dividends, an output of earnings management. If earnings management and hence unclaimed dividends in Nigeria is allowed to continue, it will lead to great consequences to the investors and corporate policy of government. It is believed that the research will assist investors and government in making informed decisions regarding dividends policy in Nigeria.

Keywords: dividends smoothing, non financial companies, Nigerian stock exchange, unclaimed dividends, corporate earnings management

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Authors: Joelle Thng, Li Fang

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Objective: As programming becomes a highly valued and sought-after skill in the economy, many universities have started offering Python courses to help students keep up with the demands of employers. This study focuses on designing a university module that effectively educates undergraduate students on financial analysis using Python programming. Methodology: To better satisfy the specific demands for each sector, this study adopted a qualitative research modus operandi to craft a module that would complement students’ existing financial skills. The lessons were structured using research-backed educational learning tools, and important Python concepts were prudently screened before being included in the syllabus. The course contents were streamlined based on criteria such as ease of learning and versatility. In particular, the skills taught were modelled in a way to ensure they were beneficial for financial data processing and analysis. Results: Through this study, a 6-week course containing the chosen topics and programming applications was carefully constructed for finance students. Conclusion: The findings in this paper will provide valuable insights as to how teaching programming could be customised for students hailing from various academic backgrounds.

Keywords: curriculum development, designing effective instruction, higher education strategy, python for finance students

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Authors: Mina Beheshti, Vida Shams, Mojtaba Esfandiari, Farzaneh Abdollahi, Abdolreza Ohadi

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Most of the people who survive a stroke need rehabilitation tools to regain their mobility. The core function of these devices is a brake actuator. The goal of this study is to design and control a magnetorheological brake which can be used as a rehabilitation tool. In fact, the fluid used in this brake is called magnetorheological fluid or MR that properties can change by variation of the magnetic field. The braking properties can be set as control by using this feature of the fluid. In this research, different MR brake designs are first introduced in each design, and the dimensions of the brake have been determined based on the required torque for foot movement. To calculate the brake dimensions, it is assumed that the shear stress distribution in the fluid is uniform and the fluid is in its saturated state. After designing the rehabilitation brake, the mathematical model of the healthy movement of a healthy person is extracted. Due to the nonlinear nature of the system and its variability, various adaptive controllers, neural networks, and robust have been implemented to estimate the parameters and control the system. After calculating torque and control current, the best type of controller in terms of error and control current has been selected. Finally, this controller is implemented on the experimental data of the patient's movements, and the control current is calculated to achieve the desired torque and motion.

Keywords: rehabilitation, magnetorheological fluid, knee, brake, adaptive control, robust control, neural network control, torque control

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Authors: Naveen Porika, Snigdho Majumdar, Niraj Sethi

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Water, food and energy securities are emerging as increasingly important and vital issues for India and the world. Hyderabad urban agglomeration (HUA), the capital city of Andhra Pradesh State in India, is the sixth largest city has a population of about 8.2 million. The Musi River, which is a tributary of Krishna river flows from west to east right through the heart of Hyderabad, about 80% of the water used by people is released back as sewage, which flows back into Musi every day with detrimental effects on the environment and people downstream of the city. The average daily sewage generated in Hyderabad city is 950 MLD, however, treatment capacity exists only for 541 Million Liters per Day (MLD) but only 407 MLD of sewage is treated. As a result, 543 MLD of sewage daily flows into Musi river. Hyderabad’s current estimated water demand stands at 320 Million Gallons per Day (MGD). However, its installed capacity is merely 270 MGD; by 2020 estimated demand will grow to 400 MGD. There is huge gap between current supply and demand, and this is likely to widen by 2021. Developing new fresh water sources is a challenge for Hyderabad, as the fresh water sources are few and far from the City (about 150-200 km) and requires excessive pumping. The constraints presented above make the conventional alternatives for supply augmentation unsustainable and unattractive .One such dependable and captive source of easily available water is the treated sewage. With proper treatment, water of desired quality can be recovered from the waste water (sewage) for recycle and reuse. Hyderabad Amberpet sewage treatment of capacity 339 MLD is Asia’s largest sewage treatment plant. Tertiary sewage treatment Standard basic engineering modules of 30 MLD,60 MLD, 120MLD & 180 MLD for sewage treatment plants has been developed which are utilized for developing Sewage Reclamation & Reuse model in Asia’s largest sewage treatment plant. This paper will focus on Hyderabad Water Supply & Demand, Sewage Generation & Treatment, Technical aspects of Tertiary Sewage Treatment and Utilization of developed standard modules for reclamation & reuse of treated sewage to overcome the deficit of 130 MGD as projected by 2021.

Keywords: water reclamation, reuse, Andhra Pradesh, hyderabad, musi river, sewage, demand and supply, recycle, Amberpet, 339 MLD, engineering modules, tertiary treatment

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Authors: Todd H. Buxton, Yong G. Lai

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Temperature management in regulated rivers can involve significant expenditures of water to meet the cold-water requirements of species in summer. For this purpose, flows released from Lewiston Dam on the Trinity River in Northern California are 12.7 cms with temperatures around 11oC in July through September to provide adult spring Chinook cold water to hold in deep pools and mature until spawning in fall. The releases are more than double the flow and 10oC colder temperatures than the natural conditions before the dam was built. The high, cold releases provide springers the habitat they require but may suppress the stream food base and limit future populations of salmon by reducing the juvenile fish size and survival to adults via the positive relationship between the two. Field and modeling research was undertaken to explore whether lowering summer releases from Lewiston Dam may promote thermal stratification in river pools so that both the cold-water needs of adult salmon and warmer water requirements of other organisms in the stream biome may be met. For this investigation, a three-dimensional (3D) computational fluid dynamics (CFD) model was developed and validated with field measurements in two deep pools on the Trinity River. Modeling and field observations were then used to identify the flows and temperatures that may form and maintain thermal stratification under different meteorologic conditions. Under low flows, a pool was found to be well mixed and thermally homogenous until temperatures began to stratify shortly after sunrise. Stratification then strengthened through the day until shading from trees and mountains cooled the inlet flow and decayed the thermal gradient, which collapsed shortly before sunset and returned the pool to a well-mixed state. This diurnal process of stratification formation and destruction was closely predicted by the 3D CFD model. Both the model and field observations indicate that thermal stratification maintained the coldest temperatures of the day at ≥2m depth in a pool and provided water that was around 8oC warmer in the upper 2m of the pool. Results further indicate that the stratified pool under low flows provided almost the same daily average temperatures as when flows were an order of magnitude higher and stratification was prevented, indicating significant water savings may be realized in regulated streams while also providing a diversity in water temperatures the ecosystem requires. With confidence in the 3D CFD model, the model is now being applied to a dozen pools in the Trinity River to understand how pool bathymetry influences thermal stratification under variable flows and diurnal temperature variations. This knowledge will be used to expand the results to 52 pools in a 64 km reach below Lewiston Dam that meet the depth criteria (≥2 m) for spring Chinook holding. From this, rating curves will be developed to relate discharge to the volume of pool habitat that provides springers the temperature (<15.6oC daily average), velocity (0.15 to 0.4 m/s) and depths that accommodate the escapement target for spring Chinook (6,000 adults) under maximum fish densities measured in other streams (3.1 m3/fish) during the holding time of year (May through August). Flow releases that meet these goals will be evaluated for water savings relative to the current flow regime and their influence on indicator species, including the Foothill Yellow-Legged Frog, and aspects of the stream biome that support salmon populations, including macroinvertebrate production and juvenile Chinook growth rates.

Keywords: 3D CFD modeling, flow regulation, thermal stratification, chinook salmon, foothill yellow-legged frogs, water managment

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Authors: Khaldoon G. Albitar, Hassan Y. Kikhia, Jin P. Zhang

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Since 2007, all companies listed on both Shanghai Stock Exchange and Shenzhen Stock Exchange are required to prepare their consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This study investigates the impact of adopting IFRS on accounting quality for a sample of listed on Chinese companies during the period 2003-2013 with sample of 10846 observations over a four-year period before and a five-year period after the adoption of IFRS. This study tests whether the level of earnings management is significantly lower after the adoption of IFRS, and reported earnings is more value relevant during the IFRS period by using the Ohlson model and Jones model, as modified by Dechow. The empirical results show that accounting quality improved with lower earnings management and higher value relevant after the adoption of IFRS in China. The current study contributes to the literature on IFRS adoption and earning quality in two ways. First, As most of the existing studies on earnings quality and IFRS have been conducted on data from the U.S and European countries, this study fills a gap in the existing literature by studying the effect of adoption of IFRS on earnings quality in an emerging market. Second, the findings of our study have important implications for policymakers, auditors, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investor.

Keywords: international financial reporting standards (ifrs), accounting quality, earnings management, value relevance, china

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Authors: Tomas Menard

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The design of control-law for engineering systems has been investigated for many decades. While many results are concerned with continuous systems with continuous output, nowadays, many controlled systems have to transmit their output measurements through network, hence making it discrete-time. But it is well known that the sampling of a system whose control-law is based on the continuous output may render the system unstable, especially when this sampling period is long compared to the system dynamics. The control design then has to be adapted in order to cope with this issue. In this paper, we consider systems which can be modeled as double integrator with uncertainty on the input since many mechanical systems can be put under such form. We present a control scheme based on an observer using only discrete time measurement and which provides continuous time estimation of the state, combined with a continuous control law, which stabilized a system with second-order dynamics even in the presence of uncertainty. It is further shown that arbitrarily long sampling periods can be dealt with properly setting the control scheme parameters.

Keywords: dynamical system, control law design, sampled output, observer design

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Authors: Antonia Müller, Svend Reuse

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The Brexit referendum in June 2016 led to different publications analysing potential consequences for European and British insurance companies under the European Passport. This study addresses a research gap, regarding the measures taken by insurance companies based in the United Kingdom and thus on structural changes to the European insurance market by an innovative structured Solvency and Financial Condition Report content analysis. In scope are all insurance companies based in the United Kingdom, that fall under the Solvency II supervisory regime. The results show that the majority of British Solvency II insurance companies in scope, conducting cross-border business to the European Union, have applied and reported measures to be able to continue operating this cross-border business after Brexit. In addition, the study shows that 34 new insurance companies based in the European Union were established as a result of Brexit, indicating structural changes to the European insurance market.

Keywords: brexit, europe, insurance market, solvency and financial condition repot, structural changes

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Authors: Xuezhang Hou

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In the present paper, a hybrid hyperbolic dynamic system formulated by partial differential equations with initial and boundary conditions is considered. First, the system is transformed to an abstract evolution system in an appropriate Hilbert space, and spectral analysis and semigroup generation of the system operator is discussed. Subsequently, a sliding model control problem is proposed and investigated, and an equivalent control method is introduced and applied to the system. Finally, a significant result that the state of the system can be approximated by an ideal sliding mode under control in any accuracy is derived and examined.

Keywords: hyperbolic dynamic system, sliding model control, semigroup of linear operators, partial differential equations

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Authors: Joon-Hoon Park

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The fundamental concept of observability is important in both theoretical and practical points of modern control systems. In modern control theory, a control system has criteria for determining the design solution exists for the system parameters and design objectives. The idea of observability relates to the condition of observing or estimating the state variables from the output variables that is generally measurable. To design closed-loop control system, the practical problems of implementing the feedback of the state variables must be considered and implementing state feedback control problem has been existed in this case. All the state variables are not available, so it is requisite to design and implement an observer that will estimate the state variables form the output parameters. However sometimes unknown inputs are presented in control systems as practical cases. This paper presents a design method and algorithm for observer of control system with unknown input parameters based on Rationalized Haar transform. The proposed method is more advantageous than the other numerical method.

Keywords: orthogonal functions, rationalized Haar transforms, control system observer, algebraic method

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Authors: Pascal Horni, Sandro Fuchs

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In presence of increasing deficits and public debt among OECD countries, the debate on fiscal disciple and mechanisms to constrain public spending policy heated up and gave rise to the institutionalization of fiscal rules. Considering the notions from political economy literature and the therein advocated axiom of maximization of votes, introduction of institutional mechanisms and rules to govern public spending is likely to be coined by electoral motives. While there exists a series of research concerned with the rise of creative accounting in the presence fiscal rules, implementation of accrual government accounting and its impact on the biting of fiscal rules has to authors’ best knowledge never been explored. This paper serves the illumination of the connection between debt break mechanisms and the adoption of accrual public sector accounting standards such as the IPSAS in the interface of political economy in the Swiss context. By explicitly considering the technical accounting dimension, this paper develops an integrated conceptual view on well-established Public Financial Management (PFM) institutions and elaborates how their interdependencies can co-create value with regard to the contemporary challenge of fiscal sustainability. Derivation of this integrated view follows an explorative approach, taking into account expert interviews with director level staff from cantonal finance administrations and policy documents, as well as literature from both research areas – public sector accounting and political economy.

Keywords: accounting, fiscal rules, International Public Sector Accounting Standards (IPSAS), public financial management

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Authors: Mohammad Hedar

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This paper presents selected topics from the area of high-speed electrical machine control with a focus on loss minimization. It focuses on pulse amplitude modulation (PAM) set-up in order to minimize the inrush current peak. An overview of these machines and the control topologies that have been used with these machines are reported. The critical problem that happens when controlling a high-speed electrical motor is the high current peak in the start-up process, which will cause high power-losses. The main goal of this paper is to clarify how the inrush current peak can be minimized in the start-up process. PAM control method is proposed to use in the frequency inverter, simulation results for PAM & PWM control method, and steps to improve the PAM control are reported. The simulations were performed with data for PMSM (nominal speed: 25 000 min-1, power: 3.1 kW, load: 1.2 Nm).

Keywords: control topology, frequency inverter, high-speed electrical machines, PAM, power losses, PWM

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Authors: Zainab A. Bu Sinnah, David I. Graham

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The Lattice Boltzmann Method has been developed and used to simulate both steady and unsteady fluid flow problems such as turbulent flows, multiphase flow and flows in the vascular system. As an example, the study of blood flow and its properties can give a greater understanding of atherosclerosis and the flow parameters which influence this phenomenon. The blood flow in the vascular system is driven by a pulsating pressure gradient which is produced by the heart. As a very simple model of this, we simulate plane channel flow under periodic forcing. This pulsatile flow is essentially the standard Poiseuille flow except that the flow is driven by the periodic forcing term. Moment boundary conditions, where various moments of the particle distribution function are specified, are applied at solid walls. We used a second-order single relaxation time model and investigated grid convergence using two distinct approaches. In the first approach, we fixed both Reynolds and Womersley numbers and varied relaxation time with grid size. In the second approach, we fixed the Womersley number and relaxation time. The expected second-order convergence was obtained for the second approach. For the first approach, however, the numerical method converged, but not necessarily to the appropriate analytical result. An explanation is given for these observations.

Keywords: Lattice Boltzmann method, single relaxation time, pulsatile flow, moment based boundary condition

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Authors: Encarnación Álvarez-Verdejo, Raúl Amor-Pulido, Pablo J. Moya-Fernández, Juan F. Muñoz-Rosas, Francisco J. Blanco-Encomienda

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Many companies use the statistical tool named as statistical quality control, and which can have a high cost for the companies interested on these statistical tools. The evaluation of the quality of products and services is an important topic, but the reduction of the cost of the implantation of the statistical quality control also has important benefits for the companies. For this reason, it is important to implement a economic design for the various steps included into the statistical quality control. In this paper, we describe some relevant aspects related to the economic design of a quality control chart for the proportion of defective items. They are very important because the suggested issues can reduce the cost of implementing a quality control chart for the proportion of defective items. Note that the main purpose of this chart is to evaluate and control the proportion of defective items of a production process.

Keywords: proportion, type I error, economic plan, distribution function

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Authors: V. Makis, L. Jafari

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In this paper, we develop an optimal Bayesian chart to control the expected number of defects per inspection unit in production processes with long production runs. We formulate this control problem in the optimal stopping framework. The objective is to determine the optimal stopping rule minimizing the long-run expected average cost per unit time considering partial information obtained from the process sampling at regular epochs. We prove the optimality of the control limit policy, i.e., the process is stopped and the search for assignable causes is initiated when the posterior probability that the process is out of control exceeds a control limit. An algorithm in the semi-Markov decision process framework is developed to calculate the optimal control limit and the corresponding average cost. Numerical examples are presented to illustrate the developed optimal control chart and to compare it with the traditional u-chart.

Keywords: Bayesian u-chart, economic design, optimal stopping, semi-Markov decision process, statistical process control

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Authors: Hajer Habib, Ghazi Boulila

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The objective of this paper is to present our contribution to the theoretical literature through a simple theoretical model dealing with the effect of transferring funds on the labor market of the countries of origin and on the other hand to test this relationship empirically in the case of Tunisia. The methodology used consists of estimating a panel of the nine main destinations of the Tunisian diaspora in Europe between 1994 and 2014 in order to better value the net effect of these migratory financial flows on unemployment through population growth. The empirical results show that the main factors explaining the decision to emigrate are the economic factors related mainly to the income differential, the demographic factors related to the differential age structure of the origin and host populations, and the cultural factors linked basically to the mastery of the language. Indeed, the stock of migrants is one of the main determinants of the transfer of migratory funds to Tunisia. But there are other variables that do not lack importance such as the economic conditions linked by the host countries. This shows that Tunisian migrants react more to economic conditions in European countries than in Tunisia. The economic situation of European countries dominates the numbers of emigrants as an explanatory factor for the amount of transfers from Tunisian emigrants to their country of origin. Similarly, it is clear that there is an indirect effect of transfers on unemployment in Tunisia. This suggests that the demographic transition conditions the effects of transferring funds on the level of unemployment.

Keywords: demographic changes, international migration, labor market, remittances

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Authors: H. Y. Jung, Ju H. Park, S. M. Lee

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A sampled-data controller is presented for solid oxide fuel cell systems which is expressed by a sector bounded nonlinear model. The sector bounded nonlinear systems, which have a feedback connection with a linear dynamical system and nonlinearity satisfying certain sector type constraints. Also, the sampled-data control scheme is very useful since it is possible to handle digital controller and increasing research efforts have been devoted to sampled-data control systems with the development of modern high-speed computers. The proposed control law is obtained by solving a convex problem satisfying several linear matrix inequalities. Simulation results are given to show the effectiveness of the proposed design method.

Keywords: sampled-data control, fuel cell, linear matrix inequalities, nonlinear control

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Authors: Bruno Vilić Belina, Jadranko Matuško

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The rapid development of cyber-physical systems significantly influences modern control systems introducing a whole new range of applications of control systems but also putting them under new challenges to ensure their resiliency to possible cyber attacks, either in the form of data integrity attacks or deception attacks. This paper presents a model predictive approach to the control of cyber-physical systems robust to cyber attacks. We assume that a cyber attack can be modelled as an additive disturbance that acts in the measuring channel. For such a system, we designed a tube-based predictive controller based. The performance of the designed controller has been verified in Matlab/Simulink environment.

Keywords: control systems, cyber attacks, resiliency, robustness, tube based model predictive control

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Authors: Rizwan Fazal

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This study investigates the behavior of external sector of Pakistan economy and its impact on economic growth, using quarterly data for the period 1990:01-2010:04. External sector indices used in this study are financial integration, net foreign assets and trade integration. Augmented Ducky fuller confirms that all variables of external sector are non-stationary at level, but at first difference it becomes stationary. The co-integration test suggests one co-integrating variables in the study. The analysis is based on Vector Auto Regression model followed by Vector Error Correction Model. The empirical findings show that financial integration play important role in increasing economic growth in Pakistan economy while trade integration has negative effect on economic growth of Pakistan in the long run. However, the short run confirms that output lag accounts for error correction. The estimated CUSUM and CUSUMQ stability test provide information that the period of the study equation remains stable.

Keywords: financial integration, trade integration, net foreign assets, gross domestic product

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Authors: Aymen Rhouma, Khaled Hcheichi, Sami Hafsi

Abstract:

The article presents an application of Fractional Model Predictive Control (FMPC) to a fractional order thermal system using Controlled Auto Regressive Integrated Moving Average (CARIMA) model obtained by discretization of a continuous fractional differential equation. Moreover, the output deviation approach is exploited to design the K -step ahead output predictor, and the corresponding control law is obtained by solving a quadratic cost function. Experiment results onto a thermal system are presented to emphasize the performances and the effectiveness of the proposed predictive controller.

Keywords: fractional model predictive control, fractional order systems, thermal system, predictive control

Procedia PDF Downloads 411

Authors: Evrime Fawzy Ishak Gadelsayed

Abstract:

This paper presents resource intake accounting as an inventive manner to cope with control accounting, which concentrates on administrators as the crucial customers of the information and offers satisfactory statistics of conventional control accounting. This machine underscores that the association's asset motivates prices; as a consequence, in costing frameworks, the emphasis ought to be on assets and their usage. Resource consumption accounting consolidates two costing methodologies, action-based totally and the German cost accounting approach called GPK. This methodology, however, is a danger to managers when making the management accounting undertaking operational. The motive for this article is to clarify the concept of resource intake accounting, its elements and highlights and use of this approach in associations. Inside the first area, we present useful resource consumption accounting, the basis, reasons for its improvement, and the issues that are faced beyond costing frameworks. At that point, we deliver the requirements and presumptions of this approach; ultimately, we depict the execution of this approach in associations and its preferences over other costing techniques.

Keywords: financial statement fraud, forensic accounting, fraud prevention and detection, auditing, audit expectation gap, corporate governance resource consumption accounting, management accounting, action based method, German cost accounting method

Procedia PDF Downloads 9