Search results for: traditional financial systems

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: Raana Babadi Fathipour

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Ice cream is a nutritious dairy product that, given its constituent materials and high nutritional value, is a suitable growth medium for the growth of various food microorganisms. The contamination of this product with pathogenic microorganisms may cause food poisoning and infections, and so could be harmful to human health. The foremost critical pathogenic microscopic organisms of ice cream incorporate Escherichia coli, Staphylococcus aureus, Bacillus cereus, Enterobacteriaceae, coliforms, Listeria monocytogenes and Enterococcus. Biosensor technology, albeit a recent addition to the dairy industry, has proven its worth in other fields, such as medical devices. Through numerous studies, the advantages of employing biosensors have consistently emerged. These incredible tools present expeditious and straightforward means while specifically targeting analytes. Thus, they bring forth unparalleled solutions that bolster ongoing advancements within dairy products and processes. This review delves into the latest developments in the realm of biosensors and evaluates the diverse techniques of bio-recognition and transduction in terms of their benefits, drawbacks, and relevance to traditional ice cream. Furthermore, the obstacles that impede the progress of these approaches in meeting the growing need for swift and real-time quality control of milk products, particularly ice cream, are also expounded upon.

Keywords: traditional ice cream, Escherichia coli, Staphylococcus aureus, biosensors

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Authors: Sari K. Ishii

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This study considers a wider viewpoint to connect migration studies with questions about financial capitalism, which seeks cheap, disposable labour transnationally. This study offers insight into whether the current state of immigration acceptance contributes to stabilizing the aging society of the nation in the long term or merely fulfills the ephemeral requirements of industries. The analyses in this study focused on three aspects. First, it examined how many migrants in Japan joined the labour market. Second, it analyzed the number of migrants that are aging. Third, it determined the number of dependent migrants accepted through labour migrants. The study findings raise further questions for future empirical studies to verify the schema of financial capitalism through the lens of migration. The scheme of seeking cheap, disposable labour transnationally may result in the descendants of both locals and mobilized labour becoming more unstable than the prior generations.

Keywords: migration, aging society, low fertility rate, Japan

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Authors: Yifan Dong, Xincheng Pu

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Rural settlements originate from the accumulation of residential building elements, and their agglomeration forms the settlement pattern and defines the relationship between the settlement and the inside and outside. The settlement boundary is an important part of the settlement pattern. Compared with the simplification of the urban settlement boundary, the settlement of the country is more complex, fuzzy and uncertain, and then presents a rich and diverse boundary morphological phenomenon. In this paper, China traditional rural settlements plane boundary as the research object, using fractal theory and fractal dimension method, quantitative analysis of planar shape boundary settlement, and expounds the research for the architectural design, ancient architecture protection and renewal and development and the significance of the protection of settlements.

Keywords: rural settlement, border, fractal, quantification

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Authors: Navdeep Kaur

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Corporate Social Responsibility is the process through which the organizations execute their philanthropic visions for social welfare. This paper considers the data of one Public Sector Bank–State Bank of India (SBI) and one Private Sector Bank-Industrial Credit and Investment Corporation of India (ICICI) from the year 2008 to 2016. The study is based on descriptive research design, and secondary data collected from the annual report of respective bank from website and different literature are reviewed. Least Square Method is used for estimating CSR spending for the financial year 2017-18. The analysis shows that these banks are making efforts for the implementation of CSR, but are not spending their 2% share of profits on CSR. There is a need for better CSR activities by the banks, which is possible by concentrating more on the prevailing social issues. The finding reveals that the percentage of profit after tax spends for CSR by SBI is more compare to ICICI. The estimated Spending for CSR for 2017-18 is also more in SBI as compared to ICICI.

Keywords: banking sector, corporate social responsibility in India, financial institution, public sector banks, SBI, ICICI

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Authors: Rana Parween, Rob Marchant

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With the continued loss of global biodiversity despite the application of modern conservation techniques, it has become crucial to investigate non-conventional methods. Accelerated destruction of ecosystems due to altered land use, climate change, cultural and social change, necessitates the exploration of society-biodiversity attitudes and links. While the loss of species and their extinction is a well-known and well-documented process that attracts much-needed attention from researchers, academics, government and non-governmental organizations, the loss of traditional ecological knowledge and practices is more insidious and goes unnoticed. The growing availability of 'indirect experiences' such as the internet and media are leading to a disaffection towards nature and the 'Extinction of Experience'. Exacerbated by the lack of documentation of traditional practices and skills, there is the possibility for the 'extinction' of traditional practices and skills before they are fully recognized and captured. India, as a mega-biodiverse country, is also known for its historical conservation strategies entwined in traditional beliefs. Indigenous communities hold skillsets, knowledge, and traditions that have accumulated over multiple generations and may play an important role in conserving biodiversity today. This study explores the differences in knowledge and attitudes towards conserving biodiversity, of three different stakeholder groups living around Jim Corbett National Park, based on their age, traditions, and association with the protected area. A triangulation designed multi-strategy investigation collected qualitative and quantitative data through a questionnaire survey of village elders, the general public, and forest officers. Following an inductive approach to analyzing qualitative data, the thematic content analysis was followed. All coding and analysis were completed using NVivo 11. Although the village elders and some general public had vast amounts of traditional knowledge, most of it was related to animal husbandry and the medicinal value of plants. Village elders were unfamiliar with the concept of the term ‘biodiversity’ albeit their way of life and attitudes ensured that they care for the ecosystem without having the scientific basis underpinning biodiversity conservation. Inherently, village elders were keen to conserve nature; the superimposition of governmental policies without any tangible benefit or consultation was seen as detrimental. Alienating villagers and consequently the village elders who are the reservoirs of traditional knowledge would not only be damaging to the social network of the area but would also disdain years of tried and tested techniques held by the elders. Forest officers advocated for biodiversity and conservation education for women and children. Women, across all groups, when questioned about nature conservation, showed more interest in learning and participation. Biodiversity not only has an ethical and cultural value, but also plays a role in ecosystem function and, thus, provides ecosystem services and supports livelihoods. Therefore, underpinning and using traditional knowledge and incorporating them into programs of biodiversity conservation should be explored with a sense of urgency.

Keywords: biological diversity, mega-biodiverse countries, traditional ecological knowledge, society-biodiversity links

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Authors: A. Abbas, X. Tridon, J. Michelon

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In the electronic or in the photovoltaic industries, components are made from wafers which are stacks of thin film layers of a few nanometers to serval micrometers thickness. Early evaluation of the bounding quality between different layers of a wafer is one of the challenges of these industries to avoid dysfunction of their final products. Traditional pump-probe experiments, which have been developed in the 70’s, give a partial solution to this problematic but with a non-negligible drawback. In fact, on one hand, these setups can generate and detect ultra-high ultrasounds frequencies which can be used to evaluate the adhesion quality of wafer layers. But, on the other hand, because of the quiet long acquisition time they need to perform one measurement, these setups remain shut in punctual measurement to evaluate global sample quality. This last point can lead to bad interpretation of the sample quality parameters, especially in the case of inhomogeneous samples. Asynchronous Optical Sampling (ASOPS) systems can perform sample characterization with picosecond acoustics up to 106 times faster than traditional pump-probe setups. This last point allows picosecond ultrasonic to unlock the acoustic imaging field at the nanometric scale to detect inhomogeneities regarding sample mechanical properties. This fact will be illustrated by presenting an image of the measured acoustical reflection coefficients obtained by mapping, with an ASOPS setup, a 255nm thin-film tungsten layer deposited on a silicone substrate. Interpretation of the coefficient reflection in terms of bounding quality adhesion will also be exposed. Origin of zones which exhibit good and bad quality bounding will be discussed.

Keywords: adhesion, picosecond ultrasonics, pump-probe, thin film

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Authors: Ruining Wu, Na Song

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Paper-cut, as one of the Chinese traditional folk decoration art, has become a unique visual aesthetic characteristics of the Chinese nation in the long-term evolution of cultural symbols. Chinese paper-cut art is the treasure-house for product design in natural resources. This paper first analyzed Chinese folk art of historical origin, cultural background, cultural values, aesthetic value, style features of Chinese paper cut art, then analyzed the design thought and design cases of paper-cut art application in different areas, such as clothing design, logo design and product design areas. Through the research of Chinese paper-cut art culture and design elements, this paper aims to build a household product design concept of Chinese traditional culture.

Keywords: paper-cut art, culture, household products, design

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Authors: Ahmed Elaksher

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Over the last few years, significant progresses have been made and new approaches have been proposed for efficient collection of 3D spatial data from Unmanned aerial vehicles (UAVs) with reduced costs compared to imagery from satellite or manned aircraft. In these systems, a low-cost GPS unit provides the position, velocity of the vehicle, a low-quality inertial measurement unit (IMU) determines its orientation, and off-the-shelf cameras capture the images. Structure from Motion (SfM) and photogrammetry are the main tools for 3D surface reconstruction from images collected by these systems. Unlike traditional techniques, SfM allows the computation of calibration parameters using point correspondences across images without performing a rigorous laboratory or field calibration process and it is more flexible in that it does not require consistent image overlap or same rotation angles between successive photos. These benefits make SfM ideal for UAVs aerial mapping. In this paper, a direct comparison between SfM Digital Elevation Models (DEM) and those generated through traditional photogrammetric techniques was performed. Data was collected by a 3DR IRIS+ Quadcopter with a Canon PowerShot S100 digital camera. Twenty ground control points were randomly distributed on the ground and surveyed with a total station in a local coordinate system. Images were collected from an altitude of 30 meters with a ground resolution of nine mm/pixel. Data was processed with PhotoScan, VisualSFM, Imagine Photogrammetry, and a photogrammetric algorithm developed by the author. The algorithm starts with performing a laboratory camera calibration then the acquired imagery undergoes an orientation procedure to determine the cameras’ positions and orientations. After the orientation is attained, correlation based image matching is conducted to automatically generate three-dimensional surface models followed by a refining step using sub-pixel image information for high matching accuracy. Tests with different number and configurations of the control points were conducted. Camera calibration parameters estimated from commercial software and those obtained with laboratory procedures were comparable. Exposure station positions were within less than few centimeters and insignificant differences, within less than three seconds, among orientation angles were found. DEM differencing was performed between generated DEMs and few centimeters vertical shifts were found.

Keywords: UAV, photogrammetry, SfM, DEM

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Authors: Oluwayemisi Mary Onyenanakeya, Kevin Onyenankeya

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Commercial media entertainment offerings especially mainstream soap operas, in South Africa, are progressively infusing dominant social values and ideas which are alien to South African tribal societies. In most of the commodified television drama series, people who hold tight to traditional beliefs and values are often characterised as traditionalists, while those who have imbibed the western defined dicta and ideology of modernity are seen as progressives. This study, therefore, sought to ascertain how South African tribal language, traditional institutions, values, social norms and ancestral beliefs are portrayed through the television drama, Generations: The Legacy, and what the viewers think about those constructions and the implication for cultural identity. The mixed methods approach was employed involving the administration of questionnaire to 350 participants selected through random sampling and a content analysis of 20 episodes of Generations: The Legacy. The findings further showed that the values and traditions represented in generation do not significantly reflect the South African tribal tradition and values (p-value > 0.05). In most instances where traditional values are represented they tend to be portrayed as old fashioned (p-value > 0.05), and inferior and backward (p-value > 0.05). In addition, the findings indicate that Generations: The legacy is a vehicle for promoting dominant culture.

Keywords: identity, soap opera, South Africa, television

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Authors: Kanokwan Chancharoenchai

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Economic growth can be considered as an important element of countries’ development process. For developing countries, like Thailand, to ensure the continuous growth of the economy, the Thai government usually implements various policies to stimulate economic growth. They may take the form of fiscal, monetary, trade, and other policies. Because of these different aspects, understanding factors relating to economic growth could allow the government to introduce the proper plan for the future economic stimulating scheme. Consequently, this issue has caught interest of not only policymakers but also academics. This study, therefore, investigates explanatory variables for economic growth in Thailand from 2005 to 2017 with a total of 52 quarters. The findings would contribute to the field of economic growth and become helpful information to policymakers. The investigation is estimated throughout the production function with non-linear Cobb-Douglas equation. The rate of growth is indicated by the change of GDP in the natural logarithmic form. The relevant factors included in the estimation cover three traditional means of production and implicit effects, such as human capital, international activity and technological transfer from developed countries. Besides, this investigation takes the internal and external instabilities into account as proxied by the unobserved inflation estimation and the real effective exchange rate (REER) of the Thai baht, respectively. The unobserved inflation series are obtained from the AR(1)-ARCH(1) model, while the unobserved REER of Thai baht is gathered from naive OLS-GARCH(1,1) model. According to empirical results, the AR(|2|) equation which includes seven significant variables, namely capital stock, labor, the imports of capital goods, trade openness, the REER of Thai baht uncertainty, one previous GDP, and the world financial crisis in 2009 dummy, presents the most suitable model. The autoregressive model is assumed constant estimator that would somehow cause the unbias. However, this is not the case of the recursive coefficient model from the state space model that allows the transition of coefficients. With the powerful state space model, it provides the productivity or effect of each significant factor more in detail. The state coefficients are estimated based on the AR(|2|) with the exception of the one previous GDP and the 2009 world financial crisis dummy. The findings shed the light that those factors seem to be stable through time since the occurrence of the world financial crisis together with the political situation in Thailand. These two events could lower the confidence in the Thai economy. Moreover, state coefficients highlight the sluggish rate of machinery replacement and quite low technology of capital goods imported from abroad. The Thai government should apply proactive policies via taxation and specific credit policy to improve technological advancement, for instance. Another interesting evidence is the issue of trade openness which shows the negative transition effect along the sample period. This could be explained by the loss of price competitiveness to imported goods, especially under the widespread implementation of free trade agreement. The Thai government should carefully handle with regulations and the investment incentive policy by focusing on strengthening small and medium enterprises.

Keywords: autoregressive model, economic growth, state space model, Thailand

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Authors: Hisham Mortada

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Transition in the urban configuration of Arab cities has never been as radical and visible as it has been since the turn of the last century. The emergence of new cities near historical settlements of Arabia has spawned a series of developments in and around the old city precincts. New developments are based on advanced technology and conform to globally prevalent standards of city planning, superseding the vernacular arrangements based on traditional norms that guided so-called ‘city planning’. Evidence to this fact are the extant Arab buildings present at the urban core of modern cities, which inform us about intricate spatial organization. Organization that subscribed to multiple norms such as, satisfying gender segregation and socialization, economic sustainability, and ensuring security and environmental coherence etc., within settlement compounds. Several participating factors achieved harmony in such an inclusive city—an organization that was challenged and apparently replaced by the new planning order in the face of growing needs of globalized, economy-centric and high-tech models of development. Communities found it difficult to acclimatize with the new western planning models that were implemented at a very large scale throughout the Kingdom, which later experienced spatial re-structuring to suit users’ needs. A closer look the ancient city of Yanbu, now flanked with such new developments, allows us to differentiate and track the beginnings of this unprecedented transition in settlement formations. This paper aims to elaborate the Arabian context offered to both the ‘traditional’ and ‘modern’ planning approaches, in order to understand challenges and solutions offered by both at different times. In the process it will also establish the inconsistencies and conflicts that arose with the shift in planning paradigm, from traditional-'cultural norms’, to modern-'physical planning', in the Arabian context. Thus, by distinguishing the two divergent planning philosophies, their impact of the Arabian morphology, relevance to lifestyle and suitability to the biophysical environment, it concludes with a perspective on sustainability particularly for in case of Yanbu.

Keywords: Yanbu, traditional architecture, Hijaz, coral building, Saudi Arabia

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Authors: Vandana N. Purav

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The Dynamical systems concept is a mathematical formalization for any fixed rule that describes the time dependence of a points position in its ambient space. e.g. pendulum of a clock, the number of fish each spring in a lake, the number of rabbits spring in an enclosure, etc. The Dynamical system theory used to describe the complex nature that is dynamical systems with differential equations called continuous dynamical system or dynamical system with difference equations called discrete dynamical system. The concept of dynamical system has its origin in Newtonian mechanics.

Keywords: dynamical systems, Fibonacci numbers, Newtonian mechanics, discrete dynamical system

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Authors: Zabeehullah, Fahim Arif, Yawar Abbas

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Software Defined Network (SDN) is a next genera-tion networking model which simplifies the traditional network complexities and improve the utilization of constrained resources. Currently, most of the SDN based Internet of Things(IoT) environments use traditional network routing strategies which work on the basis of max or min metric value. However, IoT network heterogeneity, dynamic traffic flow and complexity demands intelligent and self-adaptive routing algorithms because traditional routing algorithms lack the self-adaptions, intelligence and efficient utilization of resources. To some extent, SDN, due its flexibility, and centralized control has managed the IoT complexity and heterogeneity but still Software Defined IoT (SDIoT) lacks intelligence. To address this challenge, we proposed a model called Deep Routing Strategy (DRS) which uses Deep Learning algorithm to perform routing in SDIoT intelligently and efficiently. Our model uses real-time traffic for training and learning. Results demonstrate that proposed model has achieved high accuracy and low packet loss rate during path selection. Proposed model has also outperformed benchmark routing algorithm (OSPF). Moreover, proposed model provided encouraging results during high dynamic traffic flow.

Keywords: SDN, IoT, DL, ML, DRS

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Authors: Ahmed Emara, Maged Ghoneima, Mohamed Dessouky

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Demand for low power fast memories is increasing with the increase in IC’s complexity, in this paper we introduce a proposal for a compact SRAM based on memristor devices. The compact size of the proposed cell (1T2M compared to 6T of traditional SRAMs) allows denser memories on the same area. In this paper, we will discuss the proposed memristor memory cell for single/multi bit data storing configurations along with the writing and reading operations. Stored data stability across successive read operation will be illustrated, operational simulation results and a comparison of our proposed design with previously conventional SRAM and previously proposed memristor cells will be provided.

Keywords: memristor, multi-bit, single-bit, circuits, systems

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Authors: Grienggrai Rajchakit

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This paper is concerned with the exponential stability of switched linear systems with interval time-varying delays. The time delay is any continuous function belonging to a given interval, in which the lower bound of delay is not restricted to zero. By constructing a suitable augmented Lyapunov-Krasovskii functional combined with Leibniz-Newton's formula, a switching rule for the exponential stability of switched linear systems with interval time-varying delays and new delay-dependent sufficient conditions for the exponential stability of the systems are first established in terms of LMIs. Finally, some examples are exploited to illustrate the effectiveness of the proposed schemes.

Keywords: exponential stability, hybrid systems, time-varying delays, lyapunov-krasovskii functional, leibniz-newton's formula

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Authors: Farshad Badie

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The central focus of this article is on the fact that knowledge is constructed from an interaction between humans’ experiences and over their conceptions of constructed concepts. Logical characterisation of ‘human inductive learning over human’s constructed concepts’ within terminological systems and providing a logical background for theorising over the Human Concept Learning Problem (HCLP) in terminological systems are the main contributions of this research. This research connects with the topics ‘human learning’, ‘epistemology’, ‘cognitive modelling’, ‘knowledge representation’ and ‘ontological reasoning’.

Keywords: human concept learning, concept construction, knowledge construction, terminological systems

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Authors: Shpetim Rezniqi

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Financial Policies in the process of global crisis the current crisis has swept the world with special emphasis, most developed countries, those countries which have most gross -product world and you have a high level of living.Even those who are not experts can describe the consequences of the crisis to see the reality that is seen, but how far will it go this crisis is impossible to predict. Even the biggest experts have conjecture and large divergence, but agree on one thing: - The devastating effects of this crisis will be more severe than ever before and can not be predicted.Long time, the world was dominated economic theory of free market laws. With the belief that the market is the regulator of all economic problems. The market, as river water will flow to find the best and will find the necessary solution best. Therefore much less state market barriers, less state intervention and market itself is an economic self-regulation. Free market economy became the model of global economic development and progress, it transcends national barriers and became the law of the development of the entire world economy. Globalization and global market freedom were principles of development and international cooperation. All international organizations like the World Bank, states powerful economic, development and cooperation principles laid free market economy and the elimination of state intervention. The less state intervention much more freedom of action was this market- leading international principle. We live in an era of financial tragic. Financial markets and banking in particular economies are in a state of thy good, US stock markets fell about 40%, in other words, this time, was one of the darkest moments 5 since 1920. Prior to her rank can only "collapse" of the stock of Wall Street in 1929, technological collapse of 2000, the crisis of 1973 after the Yom Kippur war, while the price of oil quadrupled and famous collapse of 1937 / '38, when Europe was beginning World war II In 2000, even though it seems like the end of the world was the corner, the world economy survived almost intact. Of course, that was small recessions in the United States, Europe, or Japan. Much more difficult the situation was at crisis 30s, or 70s, however, succeeded the world. Regarding the recent financial crisis, it has all the signs to be much sharper and with more consequences. The decline in stock prices is more a byproduct of what is really happening. Financial markets began dance of death with the credit crisis, which came as a result of the large increase in real estate prices and household debt. It is these last two phenomena can be matched very well with the gains of the '20s, a period during which people spent fists as if there was no tomorrow. All is not away from the mouth of the word recession, that fact no longer a sudden and abrupt. But as much as the financial markets melt, the greater is the risk of a problematic economy for years to come. Thus, for example, the banking crisis in Japan proved to be much more severe than initially expected, partly because the assets which were based more loans had, especially the land that falling in value. The price of land in Japan is about 15 years that continues to fall. (ADRI Nurellari-Published in the newspaper "Classifieds"). At this moment, it is still difficult to çmosh to what extent the crisis has affected the economy and what would be the consequences of the crisis. What we know is that many banks will need more time to reduce the award of credit, but banks have this primary function, this means huge loss.

Keywords: globalisation, finance, crisis, recomandation, bank, credits

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Authors: Shreya Bokare, Sanjay Pawar, Shika Nema

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Growth in cloud applications is generating the tremendous amount of data, building load on traditional storage management systems. Software Defined Storage (SDS) is a new storage management concept becoming popular to handle this large amount of data. CoprHD is one of the open source SDS controller, available for experimentation and development in the storage industry. In this paper, the storage management techniques provided by CoprHD to manage heterogeneous storage platforms are experimented and analyzed. Various storage management parameters such as time to provision, storage capacity measurement, and heterogeneity are experimentally evaluated along with the theoretical expression to prove the completeness of CoprHD controller for storage management.

Keywords: software defined storage, SDS, CoprHD, open source, SMI-S simulator, clarion, Symmetrix

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Authors: Samuel Kaspi, Sitalakshmi Venkatraman

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In-memory database systems are becoming popular due to the availability and affordability of sufficiently large RAM and processors in modern high-end servers with the capacity to manage large in-memory database transactions. While fast and reliable in-memory systems are still being developed to overcome cache misses, CPU/IO bottlenecks and distributed transaction costs, disk-based data stores still serve as the primary persistence. In addition, with the recent growth in multi-tenancy cloud applications and associated security concerns, many organisations consider the trade-offs and continue to require fast and reliable transaction processing of disk-based database systems as an available choice. For these organizations, the only way of increasing throughput is by improving the performance of disk-based concurrency control. This warrants a hybrid database system with the ability to selectively apply an enhanced disk-based data management within the context of in-memory systems that would help improve overall throughput. The general view is that in-memory systems substantially outperform disk-based systems. We question this assumption and examine how a modified variation of access invariance that we call enhanced memory access, (EMA) can be used to allow very high levels of concurrency in the pre-fetching of data in disk-based systems. We demonstrate how this prefetching in disk-based systems can yield close to in-memory performance, which paves the way for improved hybrid database systems. This paper proposes a novel EMA technique and presents a comparative study between disk-based EMA systems and in-memory systems running on hardware configurations of equivalent power in terms of the number of processors and their speeds. The results of the experiments conducted clearly substantiate that when used in conjunction with all concurrency control mechanisms, EMA can increase the throughput of disk-based systems to levels quite close to those achieved by in-memory system. The promising results of this work show that enhanced disk-based systems facilitate in improving hybrid data management within the broader context of in-memory systems.

Keywords: in-memory database, disk-based system, hybrid database, concurrency control

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Authors: Roberta Martino, Viviana Ventre

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From a theoretical point of view, the relationship between the risk associated with an investment and the expected value are directly proportional, in the sense that the market allows a greater result to those who are willing to take a greater risk. However, empirical evidence proves that this relationship is distorted in the minds of investors and is perceived exactly the opposite. To deepen and understand the discrepancy between the actual actions of the investor and the theoretical predictions, this paper analyzes the essential parameters used for the valuation of financial assets with greater attention to two elements: probability and the passage of time. Although these may seem at first glance to be two distinct elements, they are closely related. In particular, the error in the theoretical description of the relationship between risk and return lies in the failure to consider the impatience that is generated in the decision-maker when events that have not yet happened occur in the decision-making context. In this context, probability loses its objective meaning and in relation to the psychological aspects of the investor, it can only be understood as the degree of confidence that the investor has in the occurrence or non-occurrence of an event. Moreover, the concept of objective probability does not consider the inter-temporality that characterizes financial activities and does not consider the condition of limited cognitive capacity of the decision maker. Cognitive psychology has made it possible to understand that the mind acts with a compromise between quality and effort when faced with very complex choices. To evaluate an event that has not yet happened, it is necessary to imagine that it happens in your head. This projection into the future requires a cognitive effort and is what differentiates choices under conditions of risk and choices under conditions of uncertainty. In fact, since the receipt of the outcome in choices under risk conditions is imminent, the mechanism of self-projection into the future is not necessary to imagine the consequence of the choice and the decision makers dwell on the objective analysis of possibilities. Financial activities, on the other hand, develop over time and the objective probability is too static to consider the anticipatory emotions that the self-projection mechanism generates in the investor. Assuming that uncertainty is inherent in valuations of events that have not yet occurred, the focus must shift from risk management to uncertainty management. Only in this way the intertemporal dimension of the decision-making environment and the haste generated by the financial market can be cautioned and considered. The work considers an extension of the prospectus theory with the temporal component with the aim of providing a description of the attitude towards risk with respect to the passage of time.

Keywords: impatience, risk aversion, subjective probability, uncertainty

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Authors: B. O. Oyedoyin, M. O. Ilori, T. O. Oyebisi, B. A. Oluwale, O. O. Jegede

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The study was designed to evaluate the business development and transfer of technologies to small manufacturing companies by research institutes in South Western Nigeria. The study covered all the industrial research institutions with headquarters in South Western Nigeria. The study showed that the involvement of scientists in innovation process was rated highest in the idea generation (4.14) and idea screening (4.29) phases; high in R&D (3.86) and fairly high in pilot plant development (2.71) and commercialization (2.43) phase. Their involvement was rated low in business analysis and development (2.14), and test marketing (2.29) phase. The involvement of engineers was rated highest in idea generation (3.28), fairly high in R&D (2.71), pilot plant development (2.57), and idea screening (2.40) phases. However, their involvement was rated low in business analysis and development (2.0), test marketing (2.0), and commercialization (1.28) phases. The involvement of technology marketers in innovation process was generally rated fairly high in R&D (2.7) and business analysis and development (2.6), and low in all the other phases of innovation. However, their involvement at IAR&T, FIIRO, and NIOMR in all the phases was rated very high (3.0-5.0). The involvement of entrepreneurs was generally rated from fairly high to low (2.7-2.3) in all the phases of innovation. The involvement of financial institutions in all the phases of innovation was generally rated low (1.28-1.71). In conclusion, the study showed that the involvement of stakeholders like entrepreneurs and financial institutions in technology packaging for commercialization is very low.

Keywords: research institutes, national innovation system, Nigeria, entrepreneurs, financial institution

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Authors: Keh-Wen Carin Chuang, Kuan-Chou Chen

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Our society is in a constant state of change. Technology advancements continue to affect our daily lives. How we work, communicate and entertain ourselves has changed dramatically in the past decades. As our society learns to accept and adapt to the many different technological advances that seem to inundate every part of our lives, the education institutions must migrate from traditional methods of instruction to online education in order to take full advantage of the opportunities provided by these technology advancements. There are many benefits that can be gained for university and society from offering online programs by utilizing advanced technologies. But the programs must not be implemented carelessly. The key to providing a quality online program is the issue of perceived quality, which takes into account the viewpoint of all stakeholders involved. To truly ensure the institutional quality, however, a systemic view of all factors contributing to the quality must be analyzed and linked to one another — allowing education administrators to understand how each factor contributes to the perceived quality of online education. The perceived quality of an online program will be positively reinforced only through an organizational-wide effort that focuses on managed administration, augmenting online program branding, skilled faculty, supportive alumni, student satisfaction, and effective delivery systems — each of which is vital to a quality online program. This study focuses on the concept of quality assurance in the start-up, implementation, and sustainability of online education. A case of online MBA program will be analyzed to explore the quality assurance. The difficulties in promoting online education quality is the fact that universities are complex networks of disciplinary, social, economic, and political fiefdoms, both internal and external factors to the institutions. As such, the system analysis, a systems-thinking approach, on the issue of perceived quality is ideal to investigate the factors and how each factor contributes to the perceived quality in the online education domain.

Keywords: systems thinking, quality assurance, online education, MBA program

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Authors: Shivam Adhikary

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Sports stadiums are not merely public amenities for entertainment and recreation for a city. They are buildings with extremely high construction investment and running costs which holds the supreme responsibility of social integration, nation building and financial upliftment of the community apart from its primary motive of conducting and promotion of the sports. But the present scenario of sports performances at international events and growing physical inactivity among the youth in India show that the sports facilities are far behind in achieving these goals. A pilot study of Indira Gandhi Sports complex in Vijayawada, Andhra Pradesh gave an indication of underutilization of sports stadia in India. This probed a crying need for the assessment of the present usage and functioning of the major sports (non-cricketing) facilities within the country. This paper assesses the sustainability of stadiums built for national and international sporting (non-cricket) events in terms of sporting, socio-cultural and financial sustainability by mainly focusing on their usage in non-event days. The criteria for the assessment and comparison of the stadiums within the nation is done using World Stadium Index and GDI (Gross Domestic Income) while with international counterparts using WSI and GNI (Gross National Income). The pilot case of India Gandhi Sports complex in Vijayawada is further investigated for a deeper understanding of the present usage, the existing issues for its underutilization and the way-forward (at least a few) to reach its sustainable potential. The paper finally concludes with the discussion on whether sports stadiums are being utilized to its financial potential and if it is at par with its international counterparts.

Keywords: economic sustainability, social sustainability, sports infrastructure, stadium efficiency

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Authors: Liang Zhao, Jili Zhang, Kai Li

Abstract:

A microcontroller-based fan coil unit (FCU) fuzzy controller is designed and implemented in this paper. The controller employs the concept of duty ratio on the electric valve control, which could make full use of the cooling and dehumidifying capacity of the FCU when the valve is off. The traditional control method and its limitations are analyzed. The hardware and software design processes are introduced in detail. The experimental results show that the proposed method is more energy efficient compared to the traditional controlling strategy. Furthermore, a more comfortable room condition could be achieved by the proposed method. The proposed low-cost FCU fuzzy controller deserves to be widely used in engineering applications.

Keywords: fan coil unit, duty ratio, fuzzy controller, experiment

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Authors: Debanjana Chatterjee

Abstract:

Vernacular settlements in India often take the form that is dictated by the climate they are in. India, with its vast cultural diversity and various climatic regions, offers a wide range of vernacular architecture. This paper focuses on two main geographical regions: Kashmir and Kerala. They bring together myriad challenges of climatic and social characteristics to incorporate into their vernacular architectures, which are still relevant despite the advent of globalization and modernization. Scholars like William Wurster and Catherine Bauer even claimed that all the traditional buildings in these places have the kind of urbanity, which is dignified and elegant but also lively and human that every architect would like to achieve if they knew how. With modernization, and with a greater ease of construction, a reduction in labor, and the apparent robustness of contemporary construction techniques, people have, however, become increasingly tentative in respect of vernacular architecture. And yet modern architecture has typically led to energize intensive structures without much consideration to the location and surroundings of the structure itself. In contrary, Laurie Baker, the British-born Indian architect, had shown us the way to integrate the knowledge of vernacular when he developed his designs based on the traditional architecture of Kerala, respecting the local climate and environment. This paper also explores his technical creativity in his design of Center for Development Studies (CDS) in Trivandrum. Hence, in order to protect and conserve our rich cultural and architectural heritage, the elements of vernacular should be incorporated into the contemporary planning and architecture for sustainable building design. The provision should be made to incorporate vernacular architecture and traditional knowledge in the policies. Ultimately, the policymakers, planners, and architects should consider this incorporation of traditional vernacular and contemporary sustainability in their work for the betterment of society now.

Keywords: vernacular, architecture, sustainable development, Kashmir and Kerala, climate, Laurie Baker

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Authors: Hassan Sharafuddin, Chekra Allani

Abstract:

Academicians at the Arab Open University have always voiced their concern about the efficacy of the blended learning process. Based on 75% independent study and 25% face-to-face tutorial, it poses the challenge of the predisposition to adjustment. Being used to the psychology of traditional educational systems, AOU students cannot be easily weaned from being spoon-fed. Hence they lack the motivation to plunge into self-study. For better involvement of AOU students into the learning practices, it is imperative to diagnose the factors that impede or increase their motivation. This is conducted through an empirical study grounded upon observations and tested hypothesis and aimed at monitoring and optimizing the students’ learning outcome. Recommendations of the research will follow the findings.

Keywords: academic performance, blended learning, educational psychology, independent study, pedagogy

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Authors: Dávid Kovács, Bálint Csanády, Dániel Boros, Iván Ivkovic, Lóránt Nagy, Dalma Tóth-Lakits, László Márkus, András Lukács

Abstract:

The modeling practice of financial instruments has seen significant change over the last decade due to the recognition of time-dependent and stochastically changing correlations among the market prices or the prices and market characteristics. To represent this phenomenon, the Stochastic Correlation Process (SCP) has come to the fore in the joint modeling of prices, offering a more nuanced description of their interdependence. This approach has allowed for the attainment of realistic tail dependencies, highlighting that prices tend to synchronize more during intense or volatile trading periods, resulting in stronger correlations. Evidence in statistical literature suggests that, similarly to the volatility, the SCP of certain stock prices follows rough paths, which can be described using fractional differential equations. However, estimating parameters for these equations often involves complex and computation-intensive algorithms, creating a necessity for alternative solutions. In this regard, the Fractional Ornstein-Uhlenbeck (fOU) process from the family of fractional processes offers a promising path. We can effectively describe the rough SCP by utilizing certain transformations of the fOU. We employed neural networks to understand the behavior of these processes. We had to develop a fast algorithm to generate a valid and suitably large sample from the appropriate process to train the network. With an extensive training set, the neural network can estimate the process parameters accurately and efficiently. Although the initial focus was the fOU, the resulting model displayed broader applicability, thus paving the way for further investigation of other processes in the realm of financial mathematics. The utility of SCP extends beyond its immediate application. It also serves as a springboard for a deeper exploration of fractional processes and for extending existing models that use ordinary Wiener processes to fractional scenarios. In essence, deploying both SCP and fractional processes in financial models provides new, more accurate ways to depict market dynamics.

Keywords: fractional Ornstein-Uhlenbeck process, fractional stochastic processes, Heston model, neural networks, stochastic correlation, stochastic differential equations, stochastic volatility

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Authors: Sadegh Torfi

Abstract:

Realization of anticipated energy efficiency from recuperative run-around energy recovery (RER) systems requires identification of the system components influential parameters. Because simulation modeling is considered as an integral part of the design and economic evaluation of RER systems, it is essential to calibrate the developed models and validate the performance predictions by means of comparison with data from experimental measurements. Several theoretical and numerical analyses on RER systems by researchers have been done, but generally the effect of distance between hot and cold flow is ignored. The objective of this study is to develop a thermohydroulic model for a typical RER system that accounts for energy loss from the interconnecting piping and effects of interconnecting pipes length performance of run-around energy recovery systems. Numerical simulation shows that energy loss from the interconnecting piping is change linear with pipes length and if pipes are properly isolated, maximum reduction of effectiveness of RER systems is 2% in typical piping systems.

Keywords: combined heat and power, heat recovery, effectiveness, CGS

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Authors: Xin Wang, Yuanzhong Wang

Abstract:

Pipa is one of the most important Chinese traditional plucked instruments, but its directivity has never been measured systematically. In western, directivity of loudness for western instruments is deeply researched through analysis of sound pressure level, whereas the directivity of timbre is seldom studied. In this paper, a new method for directivity of timbre was proposed, and horizontal directivity patterns of loudness and timbre of Pipa were measured. Directivity of Pipa radiation was measured in an anechoic room. The sound of Pipa played by a musician was recorded simultaneously by 32 microphones with Pipa in the center. The measuring results were examined through listening test. According to the measurement of Pipa directivity radiation, we put forward the best localization of Pipa in the Chinese traditional orchestra and the optimal recording region.

Keywords: directivity, Pipa, roughness, listening test

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