Search results for: smart grid market

Authors: Rute Abreu, Fátima David, Liliane Cristina Segura

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The Deposit Guarantee Fund (DGF) and its communication with the Society, in general, and with the deposit client of Financial Institutions, in particular, is discussed through the challenges of the accounting and financial report. The Bank of Portugal promotes the Portuguese Deposit Guarantee Fund (PDGF) as a financial institution that enhanced the market confidence and stability on the deposit-insurance system. Due to the nature of their functions, it must be subject to regulation and supervision that provides a first line of defense against adversely affect confidence on the Portuguese financial market. First, this research provides evidence of the effectiveness of the protection mechanisms on the deposit insurance system, which provides high and equal protection to all stakeholders. Second, it emphasizes the need of requirements of rigorous accounting process and effective financial report to reduce the moral hazard implications. Third, this research focuses on the need of total disclosure of the financial information which gives higher transparency and protection to deposit client of financial institutions.

Keywords: deposit guarantee fund, Portugal, accounting, financial report

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Authors: Ning Chang, Zelong Yuan, Yunpeng Wang, Jianchun Wang

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Large eddy simulation (LES) has been extensively used in the investigation of turbulence. LES calculates the grid-resolved large-scale motions and leaves small scales modeled by sublfilterscale (SFS) models. Among the existing SFS models, the deconvolution model has been used successfully in the LES of the engineering flows and geophysical flows. Despite the wide application of deconvolution models, the effects of subfilter scale dynamics and filter anisotropy on the accuracy of SFS modeling have not been investigated in depth. The results of LES are highly sensitive to the selection of filters and the anisotropy of the grid, which has been overlooked in previous research. In the current study, two critical aspects of LES are investigated. Firstly, we analyze the influence of sub-filter scale (SFS) dynamics on the accuracy of direct deconvolution models (DDM) at varying filter-to-grid ratios (FGR) in isotropic turbulence. An array of invertible filters are employed, encompassing Gaussian, Helmholtz I and II, Butterworth, Chebyshev I and II, Cauchy, Pao, and rapidly decaying filters. The significance of FGR becomes evident, as it acts as a pivotal factor in error control for precise SFS stress prediction. When FGR is set to 1, the DDM models cannot accurately reconstruct the SFS stress due to the insufficient resolution of SFS dynamics. Notably, prediction capabilities are enhanced at an FGR of 2, resulting in accurate SFS stress reconstruction, except for cases involving Helmholtz I and II filters. A remarkable precision close to 100% is achieved at an FGR of 4 for all DDM models. Additionally, the further exploration extends to the filter anisotropy to address its impact on the SFS dynamics and LES accuracy. By employing dynamic Smagorinsky model (DSM), dynamic mixed model (DMM), and direct deconvolution model (DDM) with the anisotropic filter, aspect ratios (AR) ranging from 1 to 16 in LES filters are evaluated. The findings highlight the DDM's proficiency in accurately predicting SFS stresses under highly anisotropic filtering conditions. High correlation coefficients exceeding 90% are observed in the a priori study for the DDM's reconstructed SFS stresses, surpassing those of the DSM and DMM models. However, these correlations tend to decrease as lter anisotropy increases. In the a posteriori studies, the DDM model consistently outperforms the DSM and DMM models across various turbulence statistics, encompassing velocity spectra, probability density functions related to vorticity, SFS energy flux, velocity increments, strain-rate tensors, and SFS stress. It is observed that as filter anisotropy intensify, the results of DSM and DMM become worse, while the DDM continues to deliver satisfactory results across all filter-anisotropy scenarios. The findings emphasize the DDM framework's potential as a valuable tool for advancing the development of sophisticated SFS models for LES of turbulence.

Keywords: deconvolution model, large eddy simulation, subfilter scale modeling, turbulence

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Authors: Asyraf Abdul Halim, Mohd Edil Abd Sukor, Obiyathulla Ismath Bacha

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This paper attempts to investigate the capital structure behavior of Shariah compliant firms of various levels as well those firms who are consistently Shariah non-compliant in Malaysia. The paper utilizes a unique dataset of firms of the heterogeneous level of Shariah-compliancy status over a 20 year period from the year 1997 to 2016. The paper focuses on the effects of dynamic forces behind capital structure variation such as the optimal capital structure behavior based on the trade-off, pecking order, market timing and firmly fixed effect models of capital structure. This study documents significant evidence in support of the trade-off theory with a high speed of adjustment (SOA) as well as for the time-invariant firm fixed effects across all Shariah compliance group.

Keywords: capital structure, market timing, trade-off theory, equity risk premium, Shariah-compliant firms

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Authors: Changju Lee, Seungmo Ku, Sondo Kim, Woojin Chang

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How to detecting financial bubble? Addressing this simple question has been the focus of a vast amount of empirical research spanning almost half a century. However, financial bubble is hard to observe and varying over the time; there needs to be more research on this area. In this paper, we used abnormal difference between common stocks price and those preferred stocks price to explain financial bubble. First, we proposed the ‘W-index’ which indicates spread between common stocks and those preferred stocks in stock market. Second, to prove that this ‘W-index’ is valid for measuring financial bubble, we showed that there is an inverse relationship between this ‘W-index’ and S&P500 rate of return. Specifically, our hypothesis is that when ‘W-index’ is comparably higher than other periods, financial bubbles are added up in stock market and vice versa; according to our hypothesis, if investors made long term investments when ‘W-index’ is high, they would have negative rate of return; however, if investors made long term investments when ‘W-index’ is low, they would have positive rate of return. By comparing correlation values and adjusted R-squared values of between W-index and S&P500 return, VIX index and S&P500 return, and TED index and S&P500 return, we showed only W-index has significant relationship between S&P500 rate of return. In addition, we figured out how long investors should hold their investment position regard the effect of financial bubble. Using this W-index, investors could measure financial bubble in the market and invest with low risk.

Keywords: financial bubble detection, future return, forecasting, pairs trading, preferred stocks

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Authors: Narong Anurak

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This study aimed to find out the hair-care purchasing behavior at hypermarkets and to investigate two factors, package design and advertising channels, that influenced hair-care purchasing behavior. The subjects of the study consisted of 100 housewives aged between 20-60 who usually shopped at Big C Tiwanon. They were selected by accidental sampling, and were asked to complete a questionnaire. The main findings of the survey were that the majority of respondents regarding their brand selection of hair-care products, they gave priority to the product quality followed by a reasonable price, and fragrance, respectively. Besides, more than half of the respondents had brand loyalty while the rest were attracted by an attractive package design and advertising promotion campaigns. The respondents who were attracted by the package design said that the information on the labels influenced their purchasing decision the most, and television was a medium that best reached them as well.

Keywords: advertising channels, consumer purchasing decisions, hair-care market, package design

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Authors: Arunkumar Balamurugan, G. Soundharya Lakshmi, V. Thenmozhi, M. Jegannath, V. R. Sanal Kumar

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Aerodynamics of insects is of topical interest in aeronautical industries due to its wide applications on various types of Micro Air Vehicles (MAVs). Note that the MAVs are having smaller geometric dimensions operate at significantly lower speeds on the order of 10 m/s and their Reynolds numbers range is approximately 1,50,000 or lower. In this paper, numerical study has been carried out to capture the flow physics of a biological inspired Swallowtail Butterfly with fixed wing having twin tail at a flight speed of 10 m/s. Comprehensive numerical simulations have been carried out on swallow butterfly with twin tail flying at a speed of 10 m/s with uniform upper and lower angles of attack in both lateral and longitudinal position for identifying the best wing orientation with better aerodynamic efficiency. Grid system in the computational domain is selected after a detailed grid refinement exercises. Parametric analytical studies have been carried out with different lateral and longitudinal angles of attack for finding the better aerodynamic efficiency at the same flight speed. The results reveal that lift coefficient significantly increases with marginal changes in the longitudinal angle and vice versa. But in the case of drag coefficient the conventional changes have been noticed, viz., drag increases at high longitudinal angles. We observed that the change of twin tail section has a significant impact on the formation of vortices and aerodynamic efficiency of the MAV’s. We concluded that for every lateral angle there is an exact longitudinal orientation for the existence of an aerodynamically efficient flying condition of any MAV. This numerical study is a pointer towards for the design optimization of Twin tail MAVs with flapping wings.

Keywords: aerodynamics of insects, MAV, swallowtail butterfly, twin tail MAV design

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Authors: Ellen Kirkpatrick

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Deforestation, toxification, and loss of environmental habitats, accompanied by expanding production and urbanization, are visibly altering planetary life. This is bringing humans and non-human nature into closer contact, resulting in the emergence of infectious diseases such as the Covid-19 virus which, while zoonotic in origin, spread through market relations and networks of local and global production. However, while the pandemic sharply illuminated the role of labour within social transformations, the question remains about the role of labour in transforming ecological relations. Drawing on a historical materialist approach, this paper explores the emergence and transmission of the COVID-19 virus through the Marxist conceptualization of metabolic rift. This allows for a perspective of human and non-human nature, which is in constant motion and dialectical. This negotiates distinctions and binaries between them as humans and non-human nature are taken to mutually constrain, enable and constitute one another. This is particularly significant when considering the ongoing transformations of a climate-changing world and the corresponding effects on social life. To do this, this paper empirically focuses on the Huanan Seafood Wholesale Market in Wuhan, China, where the COVID-19 virus was first detected. It examines how the virus jumped from non-human animals to humans through concrete production operations locally before traveling globally through networks of abstract market relations based on the logic of circulation, trade and exchange. As a mediating relation between human and non-human nature, labour is an analytical tool that can create a dialogue between the concrete and the abstract, as well as the local and global.

Keywords: Marxism, social reproduction, metabolic rift, labour

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Authors: Iman Janghorban Esfahani

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Due to the increased use of irrigation in agriculture, the importance and need for highly reliable water pumping systems have significantly increased. The pumping of the groundwater is essential to provide water for both drip and furrow irrigation to increase the agricultural yield, especially in arid regions that suffer from scarcities of surface water. The most common irrigation pumping systems (IPS) consume conventional energies through the use of electric motors and generators or connecting to the electricity grid. Due to the shortage and transportation difficulties of fossil fuels, and unreliable access to the electricity grid, especially in the rural areas, and the adverse environmental impacts of fossil fuel usage, such as greenhouse gas (GHG) emissions, the need for renewable energy sources such as photovoltaic systems (PVS) as an alternative way of powering irrigation pumping systems is urgent. Integration of the photovoltaic systems with irrigation pumping systems as the Photovoltaic Powered-Irrigation Pumping System (PVP-IPS) can avoid fossil fuel dependency and the subsequent greenhouse gas emissions, as well as ultimately lower energy costs and improve efficiency, which made PVP-IPS systems as an environmentally and economically efficient solution for agriculture irrigation in every region. The greatest problem faced by integration of PVP with IPS systems is matching the intermittence of the energy supply with the dynamic water demand. The best solution to overcome the intermittence is to incorporate a storage system into the PVP-IPS to provide water-on-demand as a highly reliable stand-alone irrigation pumping system. The water storage tank (WST) is the most common storage device for PVP-IPS systems. In the integrated PVP-IPS with a water storage tank (PVP-IPS-WST), a water storage tank stores the water pumped by the IPS in excess of the water demand and then delivers it when demands are high. The Freshwater pinch analysis (FWaPA) as an alternative to mathematical modeling was used by other researchers for retrofitting the off-grid battery less photovoltaic-powered reverse osmosis system. However, the Freshwater pinch analysis has not been used to integrate the photovoltaic systems with irrigation pumping system with water storage tanks. In this study, FWaPA graphical and numerical tools were used for retrofitting an existing PVP-IPS system located in Salahadin, Republic of Iraq. The plant includes a 5 kW submersible water pump and 7.5 kW solar PV system. The Freshwater Composite Curve as the graphical tool and Freashwater Storage Cascade Table as the numerical tool were constructed to determine the minimum required outsourced water during operation, optimal amount of delivered electricity to the water pump, and optimal size of the water storage tank for one-year operation data. The results of implementing the FWaPA on the case study show that the PVP-IPS system with a WST as the reliable system can reduce outsourced water by 95.41% compare to the PVP-IPS system without storage tank.

Keywords: irrigation, photovoltaic, pinch analysis, pumping, solar energy

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Authors: Raj Kumari Bahl, Sotirios Sabanis

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In this paper, we are concerned with the valuation of the first Catastrophic Mortality Bond that was launched in the market namely the Swiss Re Mortality Bond 2003. This bond encapsulates the behavior of a well-defined mortality index to generate payoffs for the bondholders. Pricing this bond is a challenging task. We adapt the payoff of the terminal principal of the bond in terms of the payoff of an Asian put option and present an approach to derive model-independent bounds exploiting comonotonic theory. We invoke Jensen’s inequality for the computation of lower bounds and employ Lagrange optimization technique to achieve the upper bound. The success of these bounds is based on the availability of compatible European mortality options in the market. We carry out Monte Carlo simulations to estimate the bond price and illustrate the strength of these bounds across a variety of models. The fact that our bounds are model-independent is a crucial breakthrough in the pricing of catastrophic mortality bonds.

Keywords: mortality bond, Swiss Re Bond, mortality index, comonotonicity

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Authors: Asror Nigmonov Asqar Ogli, Sitora Inoyatova Amonovna

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It has been a decade when the crowdfunding and P2P lending opportunities were created. Today, the market of these modern alternative investments is becoming increasingly complex to navigate. There are overwhelming amount of peer-to-peer lending platforms both in developed and emerging economies. This study looks into this market via the cross country empirical study. In this respect, it tests the effect of various macroeconomic factors on P2P loan lending. Based on the existing literature that largely lacks empirical investigations, it builds regression model that aims to explore the relationship between economy and P2P lending. Though the author found it extremely difficult to compare the findings with earlier studies, this paper had identified certain tendencies in the data and had certain policy implications. However, the paper could not find any significant effect of economic variables on P2P lending. The paper can be considered as a starting point in empirical investigation of P2P lending and highlights room further research based on limitations of the study.

Keywords: peer-to-peer lending, crowdfunding, marketplace lending, alternative finance, fintech

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Authors: Maléne Maria Magdalena Campbell, Jeremiah Mholo

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Low-income households earning less than 3,500 ZAR (about 175 GBP) per month can apply to the South African government, through the National Housing Subsidy, for fully subsidised houses. An objective of this subsidy is to enable low-income households’ participation in the formal housing market; however, the beneficiaries received houses without title deeds. As such, if the beneficiaries did not have a secured tenure at the time of their death then surviving family may face possible eviction. Therefore, an aim of this research was to determine how these beneficiaries interpret tenure security. The research focused on government subsidised housing in the Dithlake settlement of a rural hamlet named Koffiefontein, in the Letsemeng Local Municipality of South Africa. Quantitative data on the beneficiaries were collected from the local municipality, while qualitative data were collected from a sample of 45 beneficiaries.

Keywords: low-income families, subsidised housing, titling, housing market

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Authors: Eugenio Ferrer Santiago

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The growing complexities of the modern world on high-end gadgets, software applications, scams, identity theft, and Artificial Intelligence (AI) make the “uninformed” the weak and vulnerable to be victims of cybercrimes. Artificial Intelligence is not a new thing in our daily lives; the principles of database management, logical programming, and garbage in and garbage out are all connected to AI. The Philippines had in place legal safeguards against the abuse of cyberspace, but self-regulation of key industry players and self-protection by individuals are primordial to attain the success of these initiatives. Data protection, Data Privacy, and Research Ethics must work hand in hand during the policy process in the course of urban planning practice in different environments. This paper focuses on the interconnection of data protection, data privacy, and research ethics in coming up with clear-cut policies against perpetrators in the urban planning professional practice relevant in sustainable communities and smart cities. This paper shall use expository methodology under qualitative research using secondary data from related literature, interviews/blogs, and the World Wide Web resources. The claims and recommendations of this paper will help policymakers and implementers in the policy cycle. This paper shall contribute to the body of knowledge as a simple treatise and communication channel to the reading community and future researchers to validate the claims and start an intellectual discourse for better knowledge generation for the good of all in the near future.

Keywords: data privacy, data protection, urban planning, research ethics

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Authors: Abdul Amir Hazbavi

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In recent years, there have been increasing requests in the field of translation studies to develop software facilitating the analysis of corpora. One of the specialized tools in that regard are Terminology Management Tools. Briefly explaining, Terminology Management Tools are applications developed to help create and store terminological data in the form which allows for a controlled use of the data. While it has a long history and an established ground in translation market in most parts of the globe, the Iranian translators and translation market still seem to be unaware or unfamiliar with Terminology Management Tools. In order to provide a preview on the perception and adoption of Terminology Management Tools by the Iranian translators, the present survey was carried out among 224 last-year undergraduate Iranian students of English translation at 10 different universities across the country. The study revealed a very low level of adoption and a very high level of willingness to get familiar with and learn about Terminology Management Tools by the Iranian translators.

Keywords: translation, translation technology, terminology management tools, terminology management survey

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Authors: Shirin Abbas, Sandeep Kumar Dubey

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Intimate partner violence (IPV) is one of the most common forms of gender-based violence (GBV) and is classified as discrimination on the basis of gender. Article 2 of the non-binding UN Declaration on the Elimination of Violence against Women (DEVAW). This was adopted in 1993 as the first international pronouncement regarding violence against women, including physical, sexual, and psychological violence in the family (i.e., domestic violence, marital rape, battery, statutory rape, rape by male members of the family, etc.) While crime against women continues unabated, the Indian government has strongly refuted the 2018 study by the Thomson Reuters Foundation categorizing India as a risky country for women due to the high risk of sexual violence and being forced into slave labour, according to a poll of global experts. This paper has explored consent, agency, and abuse through the lens of intimate partner violence among women from lower income groups in smart cities in the state of Uttar Pradesh, India. Using focused mapping, the paper has explored the situation on IPV internationally and studied the status of working women from lower income groups to ascertain if their lot was any different where IPV was concerned to study. The findings of the study also vindicate global reports which rate India as a country unsafe for women, even within marriage.

Keywords: consent and agency, domestic violence, gender based violence GBV, intimate partner violence IPV

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Authors: Akshata Patel, Reenu Singh

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This paper focuses on current and upcoming fashion trends and global impact on the fashion industry due to the COVID-19 pandemic. The pandemic has had a major impact on the fashion industry worldwide. At the same time, the fashion market also faces challenges in consumer demand. As the supply chain and distribution channels are interconnected, this outbreak has a global impact due to travel restrictions and raw materials shortages. Given that this particular period represents an unprecedented market situation with almost no prior research on how the industry will recover from such a crisis and mold back to its original form, this research aims to propose new possibilities by evaluating the framework of specific segments. Based on the analysis and extensive literature review, the study develops a conceptual model that will illustrate the various connections among the different segments of the fashion industry. The findings provide actionable considerations for fashion industry pupils when implementing appropriate strategies to prevent unfavourable outcomes during times of crisis, such as the COVID-19 outbreak.

Keywords: COVID-19, fashion industry, global impact, new possibilities, pandemic

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Authors: Ketevan Goletiani

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MMultimodal transport is Europe-Asia’s rational decision of the XXI century. Success prerequisite of this form of cargo carriage is not technologic decision, but the comprehensive attitude towards it. Integration of the transport industry must refer to both technical and organizational-economic fields. Support of the multimodal’s must be the priority of the transport policy in different organizations of Europe and Asia. The method of approach to the transport as a unified system has been changed to a certain extent in the market conditions. Nowadays the competition between the different kinds of transport is not to be considered as a competition of one kind of transport towards another one, but is to be considered as a stimulator of the transport development. Basically, transport logistic, as the recent methodology and organization of the rationally flow of cargos at the specialized logistic centres during their procession provides effective rise of such flow of cargos, decreases non-operating expenses and gives the opportunity to the transport companies to come along with the time, to meet market clients’ requirements. It is apparent that the advanced transport-forwarding and logistic firms are being analized.

Keywords: transport systems, multimodal transport, competition, transport logistics

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Authors: Aderonke Oluseun Akinwumi, Olusola A. Komolaf

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This paper gives information about the wide array of challenges facing both the electric utilities and consumers in the distribution system in developing countries, using Obafemi Awolowo University, Ile-Ife Nigeria as a case study. It also proffers cost-effective solution through remote monitoring, diagnostic and operation of distribution networks without compromising the system reliability. As utilities move from manned and unintelligent networks to completely unmanned smart grids, switching activities at substations and feeders will be managed and controlled remotely by dedicated systems hence this design. The Substation Remote Diagnostic and Operation Solution (sRDOs) would remotely monitor the load on Medium Voltage (MV) and Low Voltage (LV) feeders as well as distribution transformers and allow the utility disconnect non-paying customers with absolutely no extra resource deployment and without interrupting supply to paying customers. The aftermath of the implementation of this design improved the lifetime of key distribution infrastructure by automatically isolating feeders during overload conditions and more importantly erring consumers. This increased the ratio of revenue generated on electricity bills to total network load.

Keywords: electric utility, consumers, remote monitoring, diagnostic, system reliability, manned and unintelligent networks, unmanned smart grids, switching activities, medium voltage, low voltage, distribution transformer

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Authors: Krzysztof Skiba, Zbigniew Czyz, Ksenia Siadkowska, Piotr Borowiec

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The article presents selected concepts of technologies that use intelligent materials in aircraft in order to improve their performance. Most of the research focuses on solutions that improve the performance of fixed wing aircraft due to related to their previously dominant market share. Recently, the development of the rotorcraft has been intensive, so there are not only helicopters but also gyroplanes and unmanned aerial vehicles using rotors and vertical take-off and landing. There are many different technologies to change a shape of the aircraft or its elements. Piezoelectric, deformable actuator systems can be applied in the system of an active control of vibration dampening in the aircraft tail structure. Wires made of shape memory alloys (SMA) could be used instead of hydraulic cylinders in the rear part of the aircraft flap. The aircraft made of intelligent materials (piezoelectrics and SMA) is one of the NASA projects which provide the possibility of changing a wing shape coefficient by 200%, a wing surface by 50%, and wing deflections by 20 degrees. Active surfaces made of shape memory alloys could be used to control swirls in the flowing stream. An intelligent control system for helicopter blades is a method for the active adaptation of blades to flight conditions and the reduction of vibrations caused by the rotor. Shape memory alloys are capable of recovering their pre-programmed shapes. They are divided into three groups: nickel-titanium-based, copper-based, and ferromagnetic. Due to the strongest shape memory effect and the best vibration damping ability, a Ni-Ti alloy is the most commercially important. The subject of this work was to prepare a conceptual design of a rotor blade with SMA actuators. The scope of work included 3D design of the supporting rotor blade, 3D design of beams enabling to change the geometry by changing the angle of rotation and FEM (Finite Element Method) analysis. The FEM analysis was performed using NX 12 software in the Pre/Post module, which includes extended finite element modeling tools and visualizations of the obtained results. Calculations are presented for two versions of the blade girders. For FEM analysis, three types of materials were used for comparison purposes (ABS, aluminium alloy 7057, steel C45). The analysis of internal stresses and extreme displacements of crossbars edges was carried out. The internal stresses in all materials were close to the yield point in the solution of girder no. 1. For girder no. 2 solution, the value of stresses decreased by about 45%. As a result of the displacement analysis, it was found that the best solution was the ABS girder no. 1. The displacement of about 0.5 mm was obtained, which resulted in turning the crossbars (upper and lower) by an angle equal to 3.59 degrees. This is the largest deviation of all the tests. The smallest deviation was obtained for beam no. 2 made of steel. The displacement value of the second girder solution was approximately 30% lower than the first solution. Acknowledgement: This work has been financed by the Polish National Centre for Research and Development under the LIDER program, Grant Agreement No. LIDER/45/0177/L-9/17/NCBR/2018.

Keywords: aircraft, helicopters, shape memory alloy, SMA, smart material, unmanned aerial vehicle, UAV

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Authors: Layal Mansour

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The aim of this paper is to identify whether oil price volatility or geopolitical risks can predict future financial stress periods or economic recessions in Kuwait. We construct the first Financial Stress Index for Kuwait (FSIK) that includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. The study covers the period from 2000 to 2020, so it includes the two recent most devastating world economic crises with oil price fluctuation: the Covid-19 pandemic crisis and Ukraine-Russia War. All data are taken by the central bank of Kuwait, the World Bank, IMF, DataStream, and from Federal Reserve System St Louis. The variables are computed as the percentage growth rate, then standardized and aggregated into one index using the variance equal weights method, the most frequently used in the literature. The graphical FSIK analysis provides detailed information (by dates) to policymakers on how internal financial stability depends on internal policy and events such as government elections or resignation. It also shows how monetary authorities or internal policymakers’ decisions to relieve personal loans or increase/decrease the public budget trigger internal financial instability. The empirical analysis under vector autoregression (VAR) models shows the dynamic causal relationship between the oil price fluctuation and the Kuwaiti economy, which relies heavily on the oil price. Similarly, using vector autoregression (VAR) models to assess the impact of the global geopolitical risks on Kuwaiti financial stability, results reveal whether Kuwait is confronted with or sheltered from geopolitical risks. The Financial Stress Index serves as a guide for macroprudential regulators in order to understand the weakness of the overall Kuwaiti financial market and economy regardless of the Kuwaiti dinar strength and exchange rate stability. It helps policymakers predict future stress periods and, thus, address alternative cushions to confront future possible financial threats.

Keywords: Kuwait, financial stress index, causality test, VAR, oil price, geopolitical risks

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Authors: Jose Gonzalez, Fai Cheng, Ivy Fan

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Shipping has a mature and ever expanding worldwide market. The future of the marine industry itself is not only irrevocably linked with the global economic, social, and political landscape; it is also subject to the technological developments in different fields. Some of them may have never been linked to the marine industry before. Companies in the marine sector are getting more dependent on technologies to achieve competitive advantage in an increasing open market. Technologies can be fused across different business functions and geopolitical influences. A successful marine business should be prepared to embrace such potential changes that lie ahead. The present paper intends to articulate long-term marine technology strategies from an industrial perspective. Methodology and current development are introduced. The paper will also provide insight into future technological trends demand for major commercial ship types. It may also assist different stakeholders in tailoring their long-term strategies to achieve a Sea Change and to uncap opportunity.

Keywords: commercial sector, marine, trends, technology

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Authors: Min Gao

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In the past year, the advent of large language models (LLMs) has brought about a revolution in the language service industry, making it possible to efficiently produce more satisfactory and higher-quality translations. This is groundbreaking news for commercial companies involved in language services since much of a translator's work can now be completed by machines. However, it may be bad news for universities that provide translation training programs. They need to confront the challenges posed by AI in education by reconsidering issues such as the reform of traditional teaching methods, the translation ethics of students, and the new demands of the job market for their graduates. This article is an exploratory study of these issues based on the author's experiences in translation teaching. The research combines methods in the form of questionnaires and interviews. The findings include: (1) students may lose their motivation to learn in the AI era, but this can be compensated for by encouragement from the lecturer; (2) Translation ethics are not a serious problem in schools, considering the strict policies and regulations in place; (3) The role of translators has evolved in the new era, necessitating a reform of the traditional teaching methods.

Keywords: job market of translation, large language model, translation ethics, translation training

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Authors: Shreemoyee Sarkar, Vikhyat Chadha

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In this paper, the local fractal properties and chaotic properties of financial time series are investigated by calculating two exponents, the Local Hurst Exponent: LHE and Lyapunov Exponent in a moving time window of a financial series.y. For the purpose of this paper, the Dow Jones Industrial Average (DIJA) and S&P 500, two of the major indices of United States have been considered. The behaviour of the above-mentioned exponents prior to some major crashes (1998 and 2008 crashes in S&P 500 and 2002 and 2008 crashes in DIJA) is discussed. Also, the optimal length of the window for obtaining the best possible results is decided. Based on the outcomes of the above, an attempt is made to predict the crashes and accuracy of such an algorithm is decided.

Keywords: local hurst exponent, lyapunov exponent, market crash prediction, time series chaos, time series local fractal properties

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Authors: Mehrzad Soltani, Pegah Rezaei

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In the endeavor to construct cities that are not only thriving but also environmentally responsible, effective urban planning and architectural design assume paramount significance. The focal point of this pursuit is the harnessing of urban renewable energy. By embracing sustainable practices such as the integration of solar panels into the urban landscape and the establishment of smart grids, cities are poised to confront head-on the dual challenge of surging energy demands and pressing environmental concerns. Urban renewable energy solutions offer a multifaceted approach to these issues. Firstly, they usher in a clean and sustainable source of energy, reducing the cities' ecological footprint while ensuring a continuous power supply. This transition to eco-friendly energy is also intrinsically linked to enhanced spatial utilization, thereby streamlining the efficiency of urban areas. Moreover, it spurs the adoption of sustainable transportation alternatives, diminishing the reliance on fossil fuels and mitigating air pollution. However, the significance of integrating renewable energy solutions transcends the realm of urban sustainability. It embodies a holistic approach towards creating cities that harmoniously coexist with the natural environment while catering to the needs and aspirations of their inhabitants. In essence, prioritizing sustainability in urban planning and architectural design has evolved from a choice to a necessity, one that not only safeguards the cities' well-being but also fosters a better quality of life for their residents. Thus, it is imperative that we acknowledge the transformative potential of these innovations as we pave the way towards the cities of the future.

Keywords: sustainability, smart grids, solar panel, urban planning, environmental concerns

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Authors: Shen Xiaoyun

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The AI-generated works must intersect with the right holder’s work, thus having a certain impact on the rights and interests of the right holder’s work. The law needs to explore and improve the regulation of the fair use of AI creations and build a compensation system to adapt to the development of the times. The development of AI technology has brought about problems such as the unclear relationship between fair use and infringement of copyright, the unclear general terms and conditions of application, and the incomplete criteria for judging at different stages. Through different theoretical methods, the legitimacy of the rational use of the system can be demonstrated. The compensation standard for fair use of copyright in AI creation can refer to the market pricing of the right holder's work, and the compensation can construct a formula for the amount of damages for AI copyright infringement, and construct the compensation standard based on the main factors affecting the market value of the work, so as to provide a reference for the construction of a compensation system for fair use of works generated by AI.

Keywords: artificial intelligence, creative acts, fair use of copyright, copyright compensation system

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Authors: Tania Ali Soomro

Abstract:

In 1839, the British, after the annexation of the port city of Karachi, established a new urban centre consisting of various quarters and introduced new settlements there. These quarters were out of the boundaries of fortified native old area and now contain much of the oldest parts of the city and signify the colonial history of Karachi, in particular the Saddar Bazaar and the neighboring areas of Kharadar and Mithadar. These quarters bestow a mix of functional typology built in a hybrid form of construction - an adaptation of the western architectural attributes to regional requirements and characteristics. This approach is referred to as the Anglo Vernacular, Colonial or the Domestic Gothic architectural form. This research paper investigates the historical and architectural value of one such property: the Empress Market designed by then Municipal Architect, Ar. James Strachan in 1889 as a commemorative monument for the jubilee of Her Majesty the Queen Victoria; Empress of British India, at that time. This paper presents information on the present conservation status of the market building and highlights its role as a catalyst to the community interconnection. This building has survived to present day and functioned well, despite undergoing numerous transformations. A detailed analysis of the bio-degradation (Natural-Chemical dissolution of material) and the bio-deterioration (Manmade-Negative state change of the material) of the building, based on the examination of the prevailing causes of these bio-alterations is carried out, and is presented in form of a damage atlas containing both the categories of bio-alteration/ changes occurred to the building over the time. The research methodology followed in this paper starts with the available archival analysis, physical observation, photographic documentation, the statistics review and the interviews with the direct and indirect stakeholders. The results and findings of this research portray that these bio-alterations and changes are the essential part of the life cycle of Empress Market building which illustrate the historic development of the premise and therefore ought to be given due importance (depending upon their condition) while developing the conservation plan for the building.

Keywords: British colonial architecture, bio-alteration, bio-degradation, bio-deterioration, domestic gothic architectural form

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Authors: Mogale T. E., Ayisi K. K., Munjonji L., Kifle Y. G.

Abstract:

Grain sorghum and cowpea are important staple crops in many areas of South Africa, particularly the Limpopo Province. The two crops are produced under a wide range of unsustainable conventional methods, which reduces productivity in the long run. Climate-smart traditional methods such as intercropping can be adopted to ensure sustainable production of these important two crops in the province. A no-tillage field experiment was laid out in a randomised complete block design (RCBD) with four replications over two seasons in two distinct agro-ecological zones, Syferkuil and Ofcolacoin, the province to assess the productivity of sorghum-cowpea intercropped under two cowpea densities.LCi Ultra compact photosynthesis machine was used to collect photosynthetic rate data biweekly between 11h00 and 13h00 until physiological maturity. Biomass and grain yield of the component crops in binary and sole cultures were determined at harvest maturity from middle rows of 2.7 m2 area. The biomass was oven dried in the laboratory at 65oC till constant weight. To obtain grain yield, harvested sorghum heads and cowpea pods were threshed, cleaned, and weighed. Harvest index (HI) and land equivalent ratio (LER) of the two crops were calculated to assess intercrop productivity relative to sole cultures. Data was analysed using the statistical analysis software system (SAS) 9.4 version, followed by mean separation using the least significant difference method. The photosyntheticrate of sorghum-cowpea intercrop was influenced by cowpea density and sorghum cultivar. Photosynthetic rate under low density was higher compared to high density, but this was dependent on the growing conditions. Dry biomass accumulation, grain yield, and harvest index differed among the sorghum cultivars and cowpea in both binary and sole cultures at the two test locations during the 2018/19 and 2020/21 growing seasons. Cowpea grain and dry biomass yields werein excess of 60% under high density compared to low density in both binary and sole cultures. The results revealed that grain yield accumulation of sorghum cultivars was influenced by the density of the companion cowpea crop as well as the production season. For instant, at Syferkuil, Enforcer and Ns5511 accumulated high yield under low density, whereas, at Ofcolaco, the higher yield was recorded under high density. Generally, under low cowpea density, cultivar Enforcer produced relatively higher grain yield whereas, under higher density, Titan yield was superior. The partial and total LER varied with growing season and the treatments studied. The total LERs exceeded 1.0 at the two locations across seasons, ranging from 1.3 to 1.8. From the results, it can be concluded that resources were used more efficiently in sorghum-cowpea intercrop at both Syferkuil and Ofcolaco. Furthermore, intercropping system improved photosynthetic rate, grain yield, and dry matter accumulation of sorghum and cowpea depending on growing conditions and density of cowpea. Hence, the sorghum-cowpea intercropping system can be adopted as a climate-smart practice for sustainable production in the Limpopo province.

Keywords: cowpea, climate-smart, grain sorghum, intercropping

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Authors: Chih-Hsiang Chang, Pei-Shan Kao

Abstract:

This paper discusses the reaction of investors in the Taiwan stock market to the most probable unknown earnings-related information and the most probable known earnings-related information. As compared with the previous literature regarding the effect of an official announcement of earnings forecast revision, this paper further analyzes investors’ cognitive bias toward the unknown and known earnings-related information, and the role of media during the investors' reactions to the foresaid information shocks. The empirical results show that both the unknown and known earnings-related information provides useful information content for a stock market. In addition, cognitive bias and disposition effect are the behavioral pitfalls that commonly occur in the process of the investors' reactions to the earnings-related information. Finally, media coverage has a remarkable influence upon the investors' trading decisions.

Keywords: cognitive bias, role of media, disposition effect, earnings-related information, behavioral pitfall

Procedia PDF Downloads 224

Authors: Renuka Mahadevan, Sharon Chang

Abstract:

This exploratory study is based on potential cruisers’ monetary valuation of cruise attributes. Using choice experiment, monetary trade-offs between four different cruise attributes are examined with Australians as a case study. We found 50% of the sample valued variety of onboard cruise activities the least while 30% were willing to pay A$87 for cruise-organised activities per day, and the remaining 20% regarded an ocean view to be most valuable at A$125. Latent class modelling was then applied and results revealed that potential cruisers’ valuation of the attributes can be used to segment the market into adventurers, budget conscious and comfort lovers. Evidence showed that socio demographics are not as insightful as lifestyle preferences in developing cruise packages and pricing that would appeal to potential cruisers. Marketing also needs to counter the mindset of potential cruisers’ belief that cruises are often costly and that cruising can be done later in life.

Keywords: latent class modelling, choice experiment, potential cruisers, market segmentation, willingness to pay

Procedia PDF Downloads 81

Authors: Christodoulou Christos, Politis Anastasios

Abstract:

The utilization of Wireless Body Area Network (WBAN) is experiencing a notable surge in popularity as a result of its widespread implementation in the field of smart health. WBANs utilize small sensors implanted within the human body to monitor and record physiological indicators. These sensors transmit the collected data to hospitals and healthcare facilities through designated access points. Bio-sensors exhibit a diverse array of shapes and sizes, and their deployment can be tailored to the condition of the individual. Multiple sensors may be strategically placed within, on, or around the human body to effectively observe, record, and transmit essential physiological indicators. These measurements serve as a basis for subsequent analysis, evaluation, and therapeutic interventions. In conjunction with physical health concerns, numerous smartwatches are engineered to employ artificial intelligence techniques for the purpose of detecting mental health conditions such as depression and anxiety. The utilization of smartwatches serves as a secure and cost-effective solution for monitoring mental health. Physiological signals are widely regarded as a highly dependable method for the recognition of emotions due to the inherent inability of individuals to deliberately influence them over extended periods of time. The techniques that WBANs employ to recognize emotions are thoroughly examined in this article.

Keywords: emotion recognition, wireless body area network, WBAN, ERC, wearable devices, psychological signals, emotion, smart-watch, prediction

Procedia PDF Downloads 50

Authors: Joaquim Rubens Fontes-Filho, Felipe Buchbinder, Marcelo Desterro

Abstract:

The study aims to identify the effects of an economic recession on the compensation of executives of listed companies. Market-based and labor environment explanations have received particular attention, both to explain the reasons for a growth in this compensation and to indicate that they may increase agency problems rather than mitigate them. In this sense, labor forces, especially related to the market for executives, contribute to defining the terms of compensation packages and represent a significant external control mechanism to moderate agency problems, but may be of little effect if the executives are entrenched and concentrate enough power to have a say in his/her compensation. Based on a five-year data panel related to executive compensation in 250 listed companies in Brazil, we examine whether the economic recession in the last two years produced any impact in this compensation, controlling for the sector and level of governance of the company.

Keywords: agency problems, executive compensation, control mechanisms, corporate governance

Procedia PDF Downloads 445