Search results for: dynamic identification
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6564

Search results for: dynamic identification

5034 Cultural Identity of Mainland Chinese, Hongkonger and Taiwanese: A Glimpse from Hollywood Film Title Translation

Authors: Ling Yu Debbie Tsoi

Abstract:

After China has just exceeded the USA as the top Hollywood film market in 2018, Hollywood studios have been adapting the taste, preference, casting and even film title translation to resonate with the Chinese audience. Due to the huge foreign demands, Hollywood film directors are paying closer attention to the translation of their products, as film titles are entry gates to the film and serve advertising, informative, aesthetic functions. Other than film directors and studios, comments over quality film title translation also appear on various online clip viewing platforms, online media, and magazines. In particular, netizens in mainland China, Hong Kong, and Taiwan seems to defend film titles in their own region while despising the other two regions. In view of the endless debates and lack of systematic analysis on film title translation in Greater China, the study aims at investigating the translation of Hollywood film titles (from English to Chinese) across Greater China based on Venuti’s (1991; 1995; 1998; 2001) concept of domestication and foreignization. To offer a comparison over time, a mini-corpus was built comprised of the top 70 most popular Hollywood film titles in 1987- 1988, 1997- 1998, 2007- 2008 and 2017- 2018 of Greater China respectively. Altogether, 560 source texts and 1680 target texts of mainland China, Hong Kong, and Taiwan were compared against each other. The three regions are found to have a distinctive style and patterns of translation. For instance, a sizable number of film titles are foreignized in mainland China by adopting literal translation and transliteration, whereas Hong Kong and Taiwan prefer domestication. Hong Kong tends to adopt a more vulgar style by using colloquial Cantonese slangs and even swear words, associating characters with negative connotations. Also, English is used as a form of domestication in Hong Kong from 1987 till 2018. Use of English as a strategy of domestication was never found in mainland nor Taiwan. On the contrary, Taiwanese target texts tend to adopt a cute and child-like style by using repetitive words and positive connotations. Even if English was used, it was used as foreignization. As film titles represent cultural products of popular culture, it is suspected that Hongkongers would like to develop cultural identity via adopting style distinctive from mainland China by vulgarization and negativity. Hongkongers also identify themselves as international cosmopolitan, leading to their identification with English. It is also suspected that due to former colonial rule of Japan, Taiwan adopts a popular culture similar to Japan, with cute and childlike expressions.

Keywords: cultural identification, ethnic identification, Greater China, film title translation

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5033 Unsteady Three-Dimensional Adaptive Spatial-Temporal Multi-Scale Direct Simulation Monte Carlo Solver to Simulate Rarefied Gas Flows in Micro/Nano Devices

Authors: Mirvat Shamseddine, Issam Lakkis

Abstract:

We present an efficient, three-dimensional parallel multi-scale Direct Simulation Monte Carlo (DSMC) algorithm for the simulation of unsteady rarefied gas flows in micro/nanosystems. The algorithm employs a novel spatiotemporal adaptivity scheme. The scheme performs a fully dynamic multi-level grid adaption based on the gradients of flow macro-parameters and an automatic temporal adaptation. The computational domain consists of a hierarchical octree-based Cartesian grid representation of the flow domain and a triangular mesh for the solid object surfaces. The hybrid mesh, combined with the spatiotemporal adaptivity scheme, allows for increased flexibility and efficient data management, rendering the framework suitable for efficient particle-tracing and dynamic grid refinement and coarsening. The parallel algorithm is optimized to run DSMC simulations of strongly unsteady, non-equilibrium flows over multiple cores. The presented method is validated by comparing with benchmark studies and then employed to improve the design of micro-scale hotwire thermal sensors in rarefied gas flows.

Keywords: DSMC, oct-tree hierarchical grid, ray tracing, spatial-temporal adaptivity scheme, unsteady rarefied gas flows

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5032 Numerical Simulation of Lifeboat Launching Using Overset Meshing

Authors: Alok Khaware, Vinay Kumar Gupta, Jean Noel Pederzani

Abstract:

Lifeboat launching from marine vessel or offshore platform is one of the important areas of research in offshore applications. With the advancement of computational fluid dynamic simulation (CFD) technology to solve fluid induced motions coupled with Six Degree of Freedom (6DOF), rigid body dynamics solver, it is now possible to predict the motion of the lifeboat precisely in different challenging conditions. Traditionally dynamic remeshing approach is used to solve this kind of problems, but remeshing approach has some bottlenecks to control good quality mesh in transient moving mesh cases. In the present study, an overset method with higher-order interpolation is used to simulate a lifeboat launched from an offshore platform into calm water, and volume of fluid (VOF) method is used to track free surface. Overset mesh consists of a set of overlapping component meshes, which allows complex geometries to be meshed with lesser effort. Good quality mesh with local refinement is generated at the beginning of the simulation and stay unchanged throughout the simulation. Overset mesh accuracy depends on the precise interpolation technique; the present study includes a robust and accurate least square interpolation method and results obtained with overset mesh shows good agreement with experiment.

Keywords: computational fluid dynamics, free surface flow, lifeboat launching, overset mesh, volume of fluid

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5031 Recognition of Spelling Problems during the Text in Progress: A Case Study on the Comments Made by Portuguese Students Newly Literate

Authors: E. Calil, L. A. Pereira

Abstract:

The acquisition of orthography is a complex process, involving both lexical and grammatical questions. This learning occurs simultaneously with the domain of multiple textual aspects (e.g.: graphs, punctuation, etc.). However, most of the research on orthographic acquisition focus on this acquisition from an autonomous point of view, separated from the process of textual production. This means that their object of analysis is the production of words selected by the researcher or the requested sentences in an experimental and controlled setting. In addition, the analysis of the Spelling Problems (SP) are identified by the researcher on the sheet of paper. Considering the perspective of Textual Genetics, from an enunciative approach, this study will discuss the SPs recognized by dyads of newly literate students, while they are writing a text collaboratively. Six proposals of textual production were registered, requested by a 2nd year teacher of a Portuguese Primary School between January and March 2015. In our case study we discuss the SPs recognized by the dyad B and L (7 years old). We adopted as a methodological tool the Ramos System audiovisual record. This system allows real-time capture of the text in process and of the face-to-face dialogue between both students and their teacher, and also captures the body movements and facial expressions of the participants during textual production proposals in the classroom. In these ecological conditions of multimodal registration of collaborative writing, we could identify the emergence of SP in two dimensions: i. In the product (finished text): SP identification without recursive graphic marks (without erasures) and the identification of SPs with erasures, indicating the recognition of SP by the student; ii. In the process (text in progress): identification of comments made by students about recognized SPs. Given this, we’ve analyzed the comments on identified SPs during the text in progress. These comments characterize a type of reformulation referred to as Commented Oral Erasure (COE). The COE has two enunciative forms: Simple Comment (SC) such as ' 'X' is written with 'Y' '; or Unfolded Comment (UC), such as ' 'X' is written with 'Y' because...'. The spelling COE may also occur before or during the SP (Early Spelling Recognition - ESR) or after the SP has been entered (Later Spelling Recognition - LSR). There were 631 words entered in the 6 stories written by the B-L dyad, 145 of them containing some type of SP. During the text in progress, the students recognized orally 174 SP, 46 of which were identified in advance (ESRs) and 128 were identified later (LSPs). If we consider that the 88 erasure SPs in the product indicate some form of SP recognition, we can observe that there were twice as many SPs recognized orally. The ESR was characterized by SC when students asked their colleague or teacher how to spell a given word. The LSR presented predominantly UC, verbalizing meta-orthographic arguments, mostly made by L. These results indicate that writing in dyad is an important didactic strategy for the promotion of metalinguistic reflection, favoring the learning of spelling.

Keywords: collaborative writing, erasure, learning, metalinguistic awareness, spelling, text production

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5030 Assessment and Mitigation of Slope Stability Hazards Along Kombolcha-Desse Road, Northern Ethiopia

Authors: Biruk Wolde Eremacho

Abstract:

The Kombolcha to Desse road, linking Addis Ababa with Northern Ethiopia towns traverses through one of the most difficult mountainous ranges in Ethiopia. The presence of loose unconsolidated materials (colluvium materials), highly weathered and fractured basalt rocks high relief, steep natural slopes, nature of geologic formations exposed along the road section, poor drainage conditions, occurrence of high seasonal rains, and seismically active nature of the region created favorable condition for slope instability in the area. Thus, keeping in mind all above points the present study was conceived to study in detail the slope stability condition of the area. It was realized that detailed slope stability studies along this road section are very necessary to identify critical slopes and to provide the best remedial measures to minimize the slope instability problems which frequently disrupt and endanger the traffic movement on this important road. For the present study based on the field manifestation of instability two most critical slope sections were identified for detailed slope stability analysis. The deterministic slope stability analysis approach was followed to perform the detailed slope stability analysis of the selected slope sections. Factor of safety for the selected slope sections was determined for the different anticipated conditions (i.e., static and dynamic with varied water saturations) using Slope/W and Slide software. Both static and seismic slope stability analysis were carried out and factor of safety was deduced for each anticipated conditions. In general, detailed slope stability analysis of the two critical slope sections reveals that for only static dry condition both the slopes sections would be stable. However, for the rest anticipated conditions defined by static and dynamic situations with varied water saturations both critical slope sections would be unstable. Moreover, the causes of slope instability in the study area are governed by different factors; therefore integrated approaches of remedial measures are more appropriate to mitigate the possible slope instability in the study area. Depending on site condition and slope stability analysis result four types of suitable preventive and remedial measures are recommended namely; proper managements of drainages, retaining structures, gabions, and managing steeply cut slopes.

Keywords: factor of safety, remedial measures, slope stability analysis, static and dynamic condition

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5029 Analyzing the Impact of Migration on HIV and AIDS Incidence Cases in Malaysia

Authors: Ofosuhene O. Apenteng, Noor Azina Ismail

Abstract:

The human immunodeficiency virus (HIV) that causes acquired immune deficiency syndrome (AIDS) remains a global cause of morbidity and mortality. It has caused panic since its emergence. Relationships between migration and HIV/AIDS have become complex. In the absence of prospectively designed studies, dynamic mathematical models that take into account the migration movement which will give very useful information. We have explored the utility of mathematical models in understanding transmission dynamics of HIV and AIDS and in assessing the magnitude of how migration has impact on the disease. The model was calibrated to HIV and AIDS incidence data from Malaysia Ministry of Health from the period of 1986 to 2011 using Bayesian analysis with combination of Markov chain Monte Carlo method (MCMC) approach to estimate the model parameters. From the estimated parameters, the estimated basic reproduction number was 22.5812. The rate at which the susceptible individual moved to HIV compartment has the highest sensitivity value which is more significant as compared to the remaining parameters. Thus, the disease becomes unstable. This is a big concern and not good indicator from the public health point of view since the aim is to stabilize the epidemic at the disease-free equilibrium. However, these results suggest that the government as a policy maker should make further efforts to curb illegal activities performed by migrants. It is shown that our models reflect considerably the dynamic behavior of the HIV/AIDS epidemic in Malaysia and eventually could be used strategically for other countries.

Keywords: epidemic model, reproduction number, HIV, MCMC, parameter estimation

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5028 Dynamic Conformal Arc versus Intensity Modulated Radiotherapy for Image Guided Stereotactic Radiotherapy of Cranial Lesion

Authors: Chor Yi Ng, Christine Kong, Loretta Teo, Stephen Yau, FC Cheung, TL Poon, Francis Lee

Abstract:

Purpose: Dynamic conformal arc (DCA) and intensity modulated radiotherapy (IMRT) are two treatment techniques commonly used for stereotactic radiosurgery/radiotherapy of cranial lesions. IMRT plans usually give better dose conformity while DCA plans have better dose fall off. Rapid dose fall off is preferred for radiotherapy of cranial lesions, but dose conformity is also important. For certain lesions, DCA plans have good conformity, while for some lesions, the conformity is just unacceptable with DCA plans, and IMRT has to be used. The choice between the two may not be apparent until each plan is prepared and dose indices compared. We described a deviation index (DI) which is a measurement of the deviation of the target shape from a sphere, and test its functionality to choose between the two techniques. Method and Materials: From May 2015 to May 2017, our institute has performed stereotactic radiotherapy for 105 patients treating a total of 115 lesions (64 DCA plans and 51 IMRT plans). Patients were treated with the Varian Clinac iX with HDMLC. Brainlab Exactrac system was used for patient setup. Treatment planning was done with Brainlab iPlan RT Dose (Version 4.5.4). DCA plans were found to give better dose fall off in terms of R50% (R50% (DCA) = 4.75 Vs R50% (IMRT) = 5.242) while IMRT plans have better conformity in terms of treatment volume ratio (TVR) (TVR(DCA) = 1.273 Vs TVR(IMRT) = 1.222). Deviation Index (DI) is proposed to better facilitate the choice between the two techniques. DI is the ratio of the volume of a 1 mm shell of the PTV and the volume of a 1 mm shell of a sphere of identical volume. DI will be close to 1 for a near spherical PTV while a large DI will imply a more irregular PTV. To study the functionality of DI, 23 cases were chosen with PTV volume ranged from 1.149 cc to 29.83 cc, and DI ranged from 1.059 to 3.202. For each case, we did a nine field IMRT plan with one pass optimization and a five arc DCA plan. Then the TVR and R50% of each case were compared and correlated with the DI. Results: For the 23 cases, TVRs and R50% of the DCA and IMRT plans were examined. The conformity for IMRT plans are better than DCA plans, with majority of the TVR(DCA)/TVR(IMRT) ratios > 1, values ranging from 0.877 to1.538. While the dose fall off is better for DCA plans, with majority of the R50%(DCA)/ R50%(IMRT) ratios < 1. Their correlations with DI were also studied. A strong positive correlation was found between the ratio of TVRs and DI (correlation coefficient = 0.839), while the correlation between the ratio of R50%s and DI was insignificant (correlation coefficient = -0.190). Conclusion: The results suggest DI can be used as a guide for choosing the planning technique. For DI greater than a certain value, we can expect the conformity for DCA plans to become unacceptably great, and IMRT will be the technique of choice.

Keywords: cranial lesions, dynamic conformal arc, IMRT, image guided radiotherapy, stereotactic radiotherapy

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5027 A Descriptive Study of Turkish Straits System on Dynamics of Environmental Factors Causing Maritime Accidents

Authors: Gizem Kodak, Alper Unal, Birsen Koldemir, Tayfun Acarer

Abstract:

Turkish Straits System which consists of Istanbul Strait (Bosphorus), Canakkale Strait (Dardanelles) and the Marmara Sea has a strategical location on international maritime as it is a unique waterway between the Mediterranean Sea, Black Sea and the Aegean Sea. Thus, this area has great importance since it is the only waterway between Black Sea countries and the rest of the World. Turkish Straits System has dangerous environmental factors hosts more vessel every day through developing World trade and this situation results in expanding accident risks day by day. Today, a lot of precautions have been taken to ensure safe navigation and to prevent maritime accidents, and international standards are followed to avoid maritime accidents. Despite this, the environmental factors that affect this area, trigger the maritime accidents and threaten the vessels with new accidents risks in different months with different hazards. This descriptive study consists of temporal and spatial analyses of environmental factors causing maritime accidents. This study also aims at contributing to safety navigation including monthly and regionally characteristics of variables. In this context, two different data sets are created consisting of environmental factors and accidents. This descriptive study on the accidents between 2001 and 2017 the mentioned region also studies the months and places of the accidents with environmental factor variables. Environmental factor variables are categorized as dynamic and static factors. Dynamic factors are appointed as meteorological and oceanographical while static factors are appointed as geological factors that threaten safety navigation with geometrical restricts. The variables that form dynamic factors are approached meteorological as wind direction, wind speed, wave altitude and visibility. The circulations and properties of the water mass on the system are studied as oceanographical properties. At the end of the study, the efficient meteorological and oceanographical parameters on the region are presented monthly and regionally. By this way, we acquired the monthly, seasonal and regional distributions of the accidents. Upon the analyses that are done; The Turkish Straits System that connects the Black Sea countries with the other countries and which is one of the most important parts of the world trade; is analyzed on temporal and spatial dimensions on the reasons of the accidents and have been presented as environmental factor dynamics causing maritime accidents.

Keywords: descriptive study, environmental factors, maritime accidents, statistics

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5026 A Study of Seismic Design Approaches for Steel Sheet Piles: Hydrodynamic Pressures and Reduction Factors Using CFD and Dynamic Calculations

Authors: Helena Pera, Arcadi Sanmartin, Albert Falques, Rafael Rebolo, Xavier Ametller, Heiko Zillgen, Cecile Prum, Boris Even, Eric Kapornyai

Abstract:

Sheet piles system can be an interesting solution when dealing with harbors or quays designs. However, current design methods lead to conservative approaches due to the lack of specific basis of design. For instance, some design features still deal with pseudo-static approaches, although being a dynamic problem. Under this concern, the study particularly focuses on hydrodynamic water pressure definition and stability analysis of sheet pile system under seismic loads. During a seismic event, seawater produces hydrodynamic pressures on structures. Currently, design methods introduce hydrodynamic forces by means of Westergaard formulation and Eurocodes recommendations. They apply constant hydrodynamic pressure on the front sheet pile during the entire earthquake. As a result, the hydrodynamic load may represent 20% of the total forces produced on the sheet pile. Nonetheless, some studies question that approach. Hence, this study assesses the soil-structure-fluid interaction of sheet piles under seismic action in order to evaluate if current design strategies overestimate hydrodynamic pressures. For that purpose, this study performs various simulations by Plaxis 2D, a well-known geotechnical software, and CFD models, which treat fluid dynamic behaviours. Knowing that neither Plaxis nor CFD can resolve a soil-fluid coupled problem, the investigation imposes sheet pile displacements from Plaxis as input data for the CFD model. Then, it provides hydrodynamic pressures under seismic action, which fit theoretical Westergaard pressures if calculated using the acceleration at each moment of the earthquake. Thus, hydrodynamic pressures fluctuate during seismic action instead of remaining constant, as design recommendations propose. Additionally, these findings detect that hydrodynamic pressure contributes a 5% to the total load applied on sheet pile due to its instantaneous nature. These results are in line with other studies that use added masses methods for hydrodynamic pressures. Another important feature in sheet pile design is the assessment of the geotechnical overall stability. It uses pseudo-static analysis since the dynamic analysis cannot provide a safety calculation. Consequently, it estimates the seismic action. One of its relevant factors is the selection of the seismic reduction factor. A huge amount of studies discusses the importance of it but also about all its uncertainties. Moreover, current European standards do not propose a clear statement on that, and they recommend using a reduction factor equal to 1. This leads to conservative requirements when compared with more advanced methods. Under this situation, the study calibrates seismic reduction factor by fitting results from pseudo-static to dynamic analysis. The investigation concludes that pseudo-static analyses could reduce seismic action by 40-50%. These results are in line with some studies from Japanese and European working groups. In addition, it seems suitable to account for the flexibility of the sheet pile-soil system. Nevertheless, the calibrated reduction factor is subjected to particular conditions of each design case. Further research would contribute to specifying recommendations for selecting reduction factor values in the early stages of the design. In conclusion, sheet pile design still has chances for improving its design methodologies and approaches. Consequently, design could propose better seismic solutions thanks to advanced methods such as findings of this study.

Keywords: computational fluid dynamics, hydrodynamic pressures, pseudo-static analysis, quays, seismic design, steel sheet pile

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5025 Synthetic Optimizing Control of Wind-Wave Hybrid Energy Conversion System

Authors: Lei Xue, Liye Zhao, Jundong Wang, Yu Xue

Abstract:

A hybrid energy conversion system composed of a floating offshore wind turbine (FOWT) and wave energy converters (WECs) may possibly reduce the levelized cost of energy, improving the platform dynamics and increasing the capacity to harvest energy. This paper investigates the aerodynamic performance and dynamic responses of the combined semi-submersible FOWT and point-absorber WECs in frequency and time domains using synthetic optimizing control under turbulent wind and irregular wave conditions. Individual pitch control is applied to the FOWT part, while spring–damping control is used on the WECs part, as well as the synergistic control effect of both are studied. The effect of the above control optimization is analyzed under several typical working conditions, such as below-rated wind speed, rated wind speed, and above-rated wind speed by OpenFAST and WEC-Sim software. Particularly, the wind-wave misalignment is also comparatively investigated, which has demonstrated the importance of applying proper integrated optimal control in this hybrid energy system. More specifically, the combination of individual pitch control and spring–damping control is able to mitigate the platform pitch motion and improve output power. However, the increase in blade root load needs to be considered which needs further investigations in the future.

Keywords: floating offshore wind turbine, wave energy converters, control optimization, individual pitch control, dynamic response

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5024 Potential Ecological Risk Assessment of Selected Heavy Metals in Sediments of Tidal Flat Marsh, the Case Study: Shuangtai Estuary, China

Authors: Chang-Fa Liu, Yi-Ting Wang, Yuan Liu, Hai-Feng Wei, Lei Fang, Jin Li

Abstract:

Heavy metals in sediments can cause adverse ecological effects while it exceeds a given criteria. The present study investigated sediment environmental quality, pollutant enrichment, ecological risk, and source identification for copper, cadmium, lead, zinc, mercury, and arsenic in the sediments collected from tidal flat marsh of Shuangtai estuary, China. The arithmetic mean integrated pollution index, geometric mean integrated pollution index, fuzzy integrated pollution index, and principal component score were used to characterize sediment environmental quality; fuzzy similarity and geo-accumulation Index were used to evaluate pollutant enrichment; correlation matrix, principal component analysis, and cluster analysis were used to identify source of pollution; environmental risk index and potential ecological risk index were used to assess ecological risk. The environmental qualities of sediment are classified to very low degree of contamination or low contamination. The similar order to element background of soil in the Liaohe plain is region of Sanjiaozhou, Honghaitan, Sandaogou, Xiaohe by pollutant enrichment analysis. The source identification indicates that correlations are significantly among metals except between copper and cadmium. Cadmium, lead, zinc, mercury, and arsenic will be clustered in the same clustering as the first principal component. Copper will be clustered as second principal component. The environmental risk assessment level will be scaled to no risk in the studied area. The order of potential ecological risk is As > Cd > Hg > Cu > Pb > Zn.

Keywords: ecological risk assessment, heavy metals, sediment, marsh, Shuangtai estuary

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5023 A Corpus-Based Study on the Styles of Three Translators

Authors: Wang Yunhong

Abstract:

The present paper is preoccupied with the different styles of three translators in their translating a Chinese classical novel Shuihu Zhuan. Based on a parallel corpus, it adopts a target-oriented approach to look into whether and what stylistic differences and shifts the three translations have revealed. The findings show that the three translators demonstrate different styles concerning their word choices and sentence preferences, which implies that identification of recurrent textual patterns may be a basic step for investigating the style of a translator.

Keywords: corpus, lexical choices, sentence characteristics, style

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5022 Understanding the Impact of Spatial Light Distribution on Object Identification in Low Vision: A Pilot Psychophysical Study

Authors: Alexandre Faure, Yoko Mizokami, éRic Dinet

Abstract:

These recent years, the potential of light in assisting visually impaired people in their indoor mobility has been demonstrated by different studies. Implementing smart lighting systems for selective visual enhancement, especially designed for low-vision people, is an approach that breaks with the existing visual aids. The appearance of the surface of an object is significantly influenced by the lighting conditions and the constituent materials of the objects. Appearance of objects may appear to be different from expectation. Therefore, lighting conditions lead to an important part of accurate material recognition. The main objective of this work was to investigate the effect of the spatial distribution of light on object identification in the context of low vision. The purpose was to determine whether and what specific lighting approaches should be preferred for visually impaired people. A psychophysical experiment was designed to study the ability of individuals to identify the smallest cube of a pair under different lighting diffusion conditions. Participants were divided into two distinct groups: a reference group of observers with normal or corrected-to-normal visual acuity and a test group, in which observers were required to wear visual impairment simulation glasses. All participants were presented with pairs of cubes in a "miniature room" and were instructed to estimate the relative size of the two cubes. The miniature room replicates real-life settings, adorned with decorations and separated from external light sources by black curtains. The correlated color temperature was set to 6000 K, and the horizontal illuminance at the object level at approximately 240 lux. The objects presented for comparison consisted of 11 white cubes and 11 black cubes of different sizes manufactured with a 3D printer. Participants were seated 60 cm away from the objects. Two different levels of light diffuseness were implemented. After receiving instructions, participants were asked to judge whether the two presented cubes were the same size or if one was smaller. They provided one of five possible answers: "Left one is smaller," "Left one is smaller but unsure," "Same size," "Right one is smaller," or "Right one is smaller but unsure.". The method of constant stimuli was used, presenting stimulus pairs in a random order to prevent learning and expectation biases. Each pair consisted of a comparison stimulus and a reference cube. A psychometric function was constructed to link stimulus value with the frequency of correct detection, aiming to determine the 50% correct detection threshold. Collected data were analyzed through graphs illustrating participants' responses to stimuli, with accuracy increasing as the size difference between cubes grew. Statistical analyses, including 2-way ANOVA tests, showed that light diffuseness had no significant impact on the difference threshold, whereas object color had a significant influence in low vision scenarios. The first results and trends derived from this pilot experiment clearly and strongly suggest that future investigations could explore extreme diffusion conditions to comprehensively assess the impact of diffusion on object identification. For example, the first findings related to light diffuseness may be attributed to the range of manipulation, emphasizing the need to explore how other lighting-related factors interact with diffuseness.

Keywords: Lighting, Low Vision, Visual Aid, Object Identification, Psychophysical Experiment

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5021 Urban Retrofitting Application Based on Social-Media to Model the Malioboro Smart Central Business Design through Statistical Regression Approach

Authors: Muhammad Hardyan Prastyanto, Aisah Azhari Marwangi, Yulinda Rizky Pratiwi

Abstract:

Globalization has become a driving force for the current technological developments. The presence of the Virtual Space provides opportunities for people to self-actualization through access to a wider world, quickly and easily. Cities that are part of the existence of life, witness the history of civilization over time, also has been the major object to upgrading on technological sector. A smart city is one where the government and citizenry are using the best available means, including ICT, to achieve their shared goals. This often includes economic development, environmental sustainability, and improved quality of life for citizens. Thus theory is the basis for research of this study. This study aimed to know the implementation of the Urban Retrofitting at Malioboro area based on Information and Communication Technologies. The method of this study is by reviewing the effectiveness of the E-commerce uses as a major system to identification the Malioboro Smart Central Business District. By using a significance level of 5 %, it can be concluded that addresses have a significant influence on the ratings obtained, namely regarding the location of the hotel establishment. But despite the use of the website does not have a significant influence on the rating of the hotel, using the website still has influence significantly on the rating, because the p -value (Sig.) of the variable website is not so much different from the significance level determined by the researcher. In the interpretation, if a hotel is located on the Pasar Kembang streets and not to use the website, so the hotel is likely to have a rating of the constant value which is 3.183. However, if a hotel located on the Sosrowijayan streets, so the hotel rating will be increased by 0,302. Then if a hotel has been using a website, so the hotel rating will increase by 0,264. It is possible to conclude the effectiveness of ICT’s (Website) uses and location to identification the urban retrofitting through increasing of building rating in Malioboro Central Business District.

Keywords: urban retrofitting, e-commerce, information and communication technology, statistic regression, SCBD, Malioboro

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5020 Diversity and Taxonomy: Malaysian Marine Algae Genus Halimeda (Halimedaceae, Chlorophyta)

Authors: Nur Farah Ain Zainee, Ahmad Ismail, Nazlina Ibrahim, Asmida Ismail

Abstract:

The study of genus Halimeda in Malaysia is in the early stage due to less specific study on its taxonomy. Most of the previous research tend to choose other genus such as Caulerpa and Gracilaria because of the potential of being utilized. The identification of Halimeda is complex by the high morphological variation within individual species due to different types of habitat and the changes in composition of seawater. The study was completed to study the diversity and distribution of Halimeda in Malaysia and to identify the morphological and anatomical differences between Halimeda species. The methods which have been used for this study are collection of Halimeda and seawater, preservation of specimen, identification of the specimen including the preparation of the temporary slide and decalcification of the calcium layer by using diluted hydrochloric acid. The specimen were processed in laboratory and kept as herbarium specimen in Algae Herbarium, Universiti Kebangsaan Malaysia. Environmental parameters were tested by using YSI multiparameter probe and the recorded data were temperature, salinity, pH and dissolved oxygen. The nutrient content of seawater such as nitrate and phosphate were analysed by using Hach kit model DR 2000. In the present study, out of 330 herbarium specimen, ten species were identified as Halimeda cuneata, H. discoidea, H. macroloba, H. macrophysa, H. opuntia, H. simulans, H. stuposa, H. taenicola, H. tuna and H. velasquezii. Of these, five species were new record to Malaysia. They are Halimeda cuneata, H. macrophysa, H. stuposa, H. taenicola and H. velasquezii. H. opuntia was found as the most abundance species with wide distribution in Malaysia coastal area. Meanwhile, from the study of their distribution, two localities in which Pulau Balak Balak, Kudat and Pulau Langkawi, Kedah, were noted having high number of Halimeda species. As a conclusion, this study has successfully identified ten species of Halimeda of Malaysia with full description of morphological characteristics that may assist further researcher to differentiate and identify Halimeda.

Keywords: Distribution, diversity, Halimeda, morphological, taxonomy

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5019 Stock Market Development and the Growth of Nigerian Economy

Authors: Godwin Chigozie Okpara, Eugene Iheanacho

Abstract:

This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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5018 Non-Linear Dynamic Analyses of Grouted Pile-Sleeve Connection

Authors: Mogens Saberi

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The focus of this article is to present the experience gained from the design of a grouted pile-sleeve connection and to present simple design expressions which can be used in the preliminary design phase of such connections. The grout pile-sleeve connection serves as a connection between an offshore jacket foundation and pre-installed piles located in the seabed. The jacket foundation supports a wind turbine generator resulting in significant dynamic loads on the connection. The connection is designed with shear keys in order to optimize the overall design but little experience is currently available in the use of shear keys in such connections. It is found that the consequence of introducing shear keys in the design is a very complex stress distribution which requires special attention due to significant fatigue loads. An optimal geometrical shape of the shear keys is introduced in order to avoid large stress concentration factors and a relatively easy fabrication. The connection is analysed in ANSYS Mechanical where the grout is modelled by a non-linear material model which allows for cracking of the grout material and captures the elastic-plastic behaviour of the grout material. Special types of finite elements are used in the interface between the pile sleeve and the grout material to model the slip surface between the grout material and the steel. Based on the performed finite element modelling simple design expressions are introduced.

Keywords: fatigue design, non-linear finite element modelling, structural dynamics, simple design expressions

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5017 The Influence of Strengthening on the Fundamental Frequency and Stiffness of a Confined Masonry Wall with an Opening for а Door

Authors: Emin Z. Mahmud

Abstract:

This paper presents the observations from a series of shaking-table tests done on a 1:1 scaled confined masonry wall model, with opening for a door – specimens CMDuS (confined masonry wall with opening for a door before strengthening) and CMDS (confined masonry wall with opening for a door after strengthening). Frequency and stiffness changes before and after GFRP (Glass Fiber Reinforced Plastic) wall strengthening are analyzed. Definition of dynamic properties of the models was the first step of the experimental testing, which enabled acquiring important information about the achieved stiffness (natural frequencies) of the model. The natural frequency was defined in the Y direction of the model by applying resonant frequency search tests. It is important to mention that both specimens CMDuS and CMDS are subjected to the same effects. The tests are realized in the laboratory of the Institute of Earthquake Engineering and Engineering Seismology (IZIIS), Skopje. The specimens were examined separately on the shaking table, with uniaxial, in-plane excitation. After testing, samples were strengthened with GFRP and re-tested. The initial frequency of the undamaged model CMDuS is 13.55 Hz, while at the end of the testing, the frequency decreased to 6.38 Hz. This emphasizes the reduction of the initial stiffness of the model due to damage, especially in the masonry and tie-beam to tie-column connection. After strengthening of the damaged wall, the natural frequency increases to 10.89 Hz. This highlights the beneficial effect of the strengthening. After completion of dynamic testing at CMDS, the natural frequency is reduced to 6.66 Hz.

Keywords: behaviour of masonry structures, Eurocode, frequency, masonry, shaking table test, strengthening

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5016 TNFRSF11B Gene Polymorphisms A163G and G11811C in Prediction of Osteoporosis Risk

Authors: I. Boroňová, J.Bernasovská, J. Kľoc, Z. Tomková, E. Petrejčíková, D. Gabriková, S. Mačeková

Abstract:

Osteoporosis is a complex health disease characterized by low bone mineral density, which is determined by an interaction of genetics with metabolic and environmental factors. Current research in genetics of osteoporosis is focused on identification of responsible genes and polymorphisms. TNFRSF11B gene plays a key role in bone remodeling. The aim of this study was to investigate the genotype and allele distribution of A163G (rs3102735) osteoprotegerin gene promoter and G1181C (rs2073618) osteoprotegerin first exon polymorphisms in the group of 180 unrelated postmenopausal women with diagnosed osteoporosis and 180 normal controls. Genomic DNA was isolated from peripheral blood leukocytes using standard methodology. Genotyping for presence of different polymorphisms was performed using the Custom Taqman®SNP Genotyping assays. Hardy-Weinberg equilibrium was tested for each SNP in the groups of participants using the chi-square (χ2) test. The distribution of investigated genotypes in the group of patients with osteoporosis were as follows: AA (66.7%), AG (32.2%), GG (1.1%) for A163G polymorphism; GG (19.4%), CG (44.4%), CC (36.1%) for G1181C polymorphism. The distribution of genotypes in normal controls were follows: AA (71.1%), AG (26.1%), GG (2.8%) for A163G polymorphism; GG (22.2%), CG (48.9%), CC (28.9%) for G1181C polymorphism. In A163G polymorphism the variant G allele was more common among patients with osteoporosis: 17.2% versus 15.8% in normal controls. Also, in G1181C polymorphism the phenomenon of more frequent occurrence of C allele in the group of patients with osteoporosis was observed (58.3% versus 53.3%). Genotype and allele distributions showed no significant differences (A163G: χ2=0.270, p=0.605; χ2=0.250, p=0.616; G1181C: χ2= 1.730, p=0.188; χ2=1.820, p=0.177). Our results represents an initial study, further studies of more numerous file and associations studies will be carried out. Knowing the distribution of genotypes is important for assessing the impact of these polymorphisms on various parameters associated with osteoporosis. Screening for identification of “at-risk” women likely to develop osteoporosis and initiating subsequent early intervention appears to be most effective strategy to substantially reduce the risks of osteoporosis.

Keywords: osteoporosis, real-time PCR method, SNP polymorphisms

Procedia PDF Downloads 314
5015 Knowledge and Ontology Engineering in Continuous Monitoring of Production Systems

Authors: Maciej Zaręba, Sławomir Lasota

Abstract:

The monitoring of manufacturing processes is an important issue in nowadays ERP systems. The identification and analysis of appropriate data for the units that take part in the production process are ones of the most crucial problems. In this paper, the authors introduce a new approach towards modelling the relation between production units, signals, and factors possible to obtain from the production system. The main idea for the system is based on the ontology of production units.

Keywords: manufacturing operation management, OWL, ontology implementation, ontology modeling

Procedia PDF Downloads 98
5014 Identification and Classification of Stakeholders in the Transition to 3D Cadastre

Authors: Qiaowen Lin

Abstract:

The 3D cadastre is an inevitable choice to meet the needs of real cadastral management. Nowadays, more attention is given to the technical aspects of 3D cadastre, resulting in the imbalance within this field. To fulfill this research gap, the stakeholder, which has been regarded as the determining factor in cadastral change has been studied. Delphi method, Michael rating, and stakeholder mapping are used to identify and classify the stakeholders in 3D cadastre. It is concluded that the project managers should pay more attention to the interesting appeal of the key stakeholders and different coping strategies should be adopted to facilitate the transition to 3D cadastre.

Keywords: stakeholders, three dimension, cadastre, transtion

Procedia PDF Downloads 277
5013 Polydimethylsiloxane Applications in Interferometric Optical Fiber Sensors

Authors: Zeenat Parveen, Ashiq Hussain

Abstract:

This review paper consists of applications of PDMS (polydimethylsiloxane) materials for enhanced performance, optical fiber sensors in acousto-ultrasonic, mechanical measurements, current applications, sensing, measurements and interferometric optical fiber sensors. We will discuss the basic working principle of fiber optic sensing technology, various types of fiber optic and the PDMS as a coating material to increase the performance. Optical fiber sensing methods for detecting dynamic strain signals, including general sound and acoustic signals, high frequency signals i.e. ultrasonic/ultrasound, and other signals such as acoustic emission and impact induced dynamic strain. Optical fiber sensors have Industrial and civil engineering applications in mechanical measurements. Sometimes it requires different configurations and parameters of sensors. Optical fiber current sensors are based on Faraday Effect due to which we obtain better performance as compared to the conventional current transformer. Recent advancement and cost reduction has simulated interest in optical fiber sensing. Optical techniques are also implemented in material measurement. Fiber optic interferometers are used to sense various physical parameters including temperature, pressure and refractive index. There are four types of interferometers i.e. Fabry–perot, Mach-Zehnder, Michelson, and Sagnac. This paper also describes the future work of fiber optic sensors.

Keywords: fiber optic sensing, PDMS materials, acoustic, ultrasound, current sensor, mechanical measurements

Procedia PDF Downloads 371
5012 Image Segmentation Using 2-D Histogram in RGB Color Space in Digital Libraries

Authors: El Asnaoui Khalid, Aksasse Brahim, Ouanan Mohammed

Abstract:

This paper presents an unsupervised color image segmentation method. It is based on a hierarchical analysis of 2-D histogram in RGB color space. This histogram minimizes storage space of images and thus facilitates the operations between them. The improved segmentation approach shows a better identification of objects in a color image and, at the same time, the system is fast.

Keywords: image segmentation, hierarchical analysis, 2-D histogram, classification

Procedia PDF Downloads 361
5011 The Impact Of Environmental Management System ISO 14001 Adoption on Firm Performance

Authors: Raymond Treacy, Paul Humphreys, Ronan McIvor, Trevor Cadden, Alan McKittrick

Abstract:

This study employed event study methodology to examine the role of institutions, resources and dynamic capabilities in the relationship between the Environmental Management System ISO 14001 adoption and firm performance. Utilising financial data from 140 ISO 14001 certified firms and 320 non-certified firms, the results of the study suggested that the UK and Irish manufacturers were not implementing ISO 14001 solely to gain legitimacy. In contrast, the results demonstrated that firms were fully integrating the ISO 14001 standard within their operations as certified firms were able to improve both financial and operating performance when compared to non-certified firms. However, while there were significant and long lasting improvements for employee productivity, manufacturing cost efficiency, return on assets and sales turnover, the sample firms operating cycle and fixed asset efficiency displayed evidence of diminishing returns in the long-run, underlying the observation that no operating advantage based on incremental improvements can be everlasting. Hence, there is an argument for investing in dynamic capabilities which help renew and refresh the resource base and help the firm adapt to changing environments. Indeed, the results of the regression analysis suggest that dynamic capabilities for innovation acted as a moderator in the relationship between ISO 14001 certification and firm performance. This, in turn, will have a significant and symbiotic influence on sustainability practices within the participating organisations. The study not only provides new and original insights, but demonstrates pragmatically how firms can take advantage of environmental management systems as a moderator to significantly enhance firm performance. However, while it was shown that firm innovation aided both short term and long term ROA performance, adaptive market capabilities only aided firms in the short-term at the marketing strategy deployment stage. Finally, the results have important implications for firms operating in an economic recession as the results suggest that firms should scale back investment in R&D while operating in an economic downturn. Conversely, under normal trading conditions, consistent and long term investments in R&D was found to moderate the relationship between ISO 14001 certification and firm performance. Hence, the results of the study have important implications for academics and management alike.

Keywords: supply chain management, environmental management systems, quality management, sustainability, firm performance

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5010 Epidemiology of Cutaneous Malignant Melanoma in Pakistan: Incidence, Clinical Subtypes, Tumor Stage and Localization

Authors: Warda Jabeen, Romaisa Shamim Khan, Osama Shakeel, Ahmed Faraz Bhatti, Raza Hussain

Abstract:

Background: The worldwide incidence of cutaneous melanoma (CM) has been on the rise over the past few decades. Primary prevention and early treatment remain the focus of management to reduce the burden of disease. This entails identification of risk factors to prompt early diagnosis. In Pakistan, there is a scarcity of clinico-pathological data relating to cutaneous malignant melanoma. Objective: The purpose of this study was to analyze the epidemiological and clinical characteristics of patients presenting with cutaneous malignant melanoma in Pakistan, and to compare the results with other studies. Method: Shaukat Khanum Memorial Cancer Hospital and Research Centre is currently the only dedicated cancer hospital in the country, accepting patients from all over Pakistan. Majority of the patients, however, belong to the northern half of the country. From the recorded data of the hospital, all cutaneous melanoma cases were identified and evaluated. Results: Between 1997 and 2017, a total of 169 cutaneous melanoma patients were registered at Shaukat Khanum. Mean age was 47.5 years. The highest incidence of melanoma was seen in the age group 40-59 years (n=69, 40.8%). Most commonly reported clinical subtype was unspecified melanoma (n=154, 91%). Amongst those in which T stage was reported, the most frequently observed T-stage at presentation was T4 (n=23, 13.6%). With regards to body distribution, in our study CM was seen most commonly in the lower limb including the hip. The yearly incidence of melanoma has increased/remained stable from 2007 to 2017. Conclusion: cutaneous malignant melanoma is a fairly common disease in Pakistan. Patients tend to present at a more advanced stage as compared to patients in developed countries. Identification of risk factors and tumor characteristics is therefore of paramount importance to deal with these patients.

Keywords: epidemiology of cutaneous malignant melanoma, cutaneous malignant melanoma, Pakistan, skin cancer

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5009 Pricing Strategy in Marketing: Balancing Value and Profitability

Authors: Mohsen Akhlaghi, Tahereh Ebrahimi

Abstract:

Pricing strategy is a vital component in achieving the balance between customer value and business profitability. The aim of this study is to provide insights into the factors, techniques, and approaches involved in pricing decisions. The study utilizes a descriptive approach to discuss various aspects of pricing strategy in marketing, drawing on concepts from market research, consumer psychology, competitive analysis, and adaptability. This approach presents a comprehensive view of pricing decisions. The result of this exploration is a framework that highlights key factors influencing pricing decisions. The study examines how factors such as market positioning, product differentiation, and brand image shape pricing strategies. Additionally, it emphasizes the role of consumer psychology in understanding price elasticity, perceived value, and price-quality associations that influence consumer behavior. Various pricing techniques, including charm pricing, prestige pricing, and bundle pricing, are mentioned as methods to enhance sales by influencing consumer perceptions. The study also underscores the importance of adaptability in responding to market dynamics through regular price monitoring, dynamic pricing, and promotional strategies. It recognizes the role of digital platforms in enabling personalized pricing and dynamic pricing models. In conclusion, the study emphasizes that effective pricing strategies strike a balance between customer value and business profitability, ultimately driving sales, enhancing brand perception, and fostering lasting customer relationships.

Keywords: business, customer benefits, marketing, pricing

Procedia PDF Downloads 59
5008 Transcending Boundaries: Integrating Urban Vibrancy with Contemporary Interior Design through Vivid Wall Pieces

Authors: B. C. Biermann

Abstract:

This in-depth exploration investigates the transformative integration of urban vibrancy into contemporary interior design through the strategic incorporation of vivid wall pieces. Bridging the gap between public dynamism and private tranquility, this study delves into the nuanced methodologies, creative processes, and profound impacts of this innovative approach. Drawing inspiration from street art's dynamic language and the timeless allure of natural beauty, these artworks serve as conduits, orchestrating a dialogue that challenges traditional boundaries and redefines the relationship between external chaos and internal sanctuaries. The fusion of urban vibrancy with contemporary interior design represents a paradigm shift, where the inherent dynamism of public spaces harmoniously converges with the curated tranquility of private environments. This paper aims to explore the underlying principles, creative processes, and transformative impacts of integrating vivid wall pieces as instruments for bringing the "outside in." Employing an innovative and meticulous methodology, street art elements are synthesized with the refined aesthetics of contemporary design. This delicate balance necessitates a nuanced understanding of both artistic realms, ensuring a synthesis that captures the essence of urban energy while seamlessly blending with the sophistication of modern interior design. The creative process involves a strategic selection of street art motifs, colors, and textures that resonate with the organic beauty found in natural landscapes, creating a symbiotic relationship between the grittiness of the streets and the elegance of interior spaces. This groundbreaking approach defies traditional boundaries by integrating dynamic street art into interior spaces, blurring the demarcation between external chaos and internal tranquility. Vivid wall pieces serve as dynamic focal points, transforming physical spaces and challenging conventional perceptions of where art belongs. This redefinition asserts that boundaries are fluid and meant to be transcended. Case studies illustrate the profound impact of integrating vivid wall pieces on the aesthetic appeal of interior spaces. Urban vibrancy revitalizes the atmosphere, infusing it with palpable energy that resonates with the vivacity of public spaces. The curated tranquility of private interiors coexists harmoniously with the dynamic visual language of street art, fostering a unique and evolving relationship between inhabitants and their living spaces. Emphasizing harmonious coexistence, the paper underscores the potential for a seamless dialogue between public urban spaces and private interiors. The integration of vivid wall pieces acts as a bridge rather than a dichotomy, merging the dynamism of street art with the curated elegance of contemporary design. This unique visual tapestry transcends traditional categorizations, fostering a symbiotic relationship between contrasting worlds. In conclusion, this paper posits that the integration of vivid wall pieces represents a transformative tool for contemporary interior design, challenging and redefining conventional boundaries. By strategically bringing the "outside in," this approach transforms interior spaces and heralds a paradigm shift in the relationship between urban aesthetics and contemporary living. The ongoing narrative between urban vibrancy and interior design creates spaces that reflect the dynamic and ever-evolving nature of the surrounding environment.

Keywords: Art Integration, Contemporary Interior Design, Interior Space Transformation, Vivid Wall Pieces

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5007 In-situ Monitoring of Residual Stress Behavior-Temperature Profiles in Transparent Polyimide/Tetrapod Zinc Oxide Whisker Composites

Authors: Ki-Ho Nam, Haksoo Han

Abstract:

Tetrapod zinc oxide whiskers (TZnO-Ws) were successfully synthesized by a thermal oxidation method. A series of transparent polyimide (PI)/TZnO-W composites were successfully synthesized via a solution-blending method. The structural and morphological features of TZnO-Ws and PI/TZnO-W composites were characterized by Fourier transform infrared spectroscopy (FT-IR), wide-angle X-Ray diffraction (WAXD), and field emission scanning electron microscope (FE-SEM). Dynamic stress behaviors were investigated in-situ during thermal imidization of the soft-baked PI/TZnO-W composite precursor and thermally cured composite films using a thin film stress analyzer (TFSA) by wafer bending technique. The PI/TZnO-W composite films exhibited an optical transparency greater than 80% at 550 nm (≤ 0.5 wt% TZnO-W content), a low coefficient of thermal expansion (CTE), and enhanced glass transition temperature. However, the thermal decomposition temperature decreased as the TZnO-W content increased. The water diffusion coefficient and water uptake of the PI/TZNO-W composite films were obtained by best fits to a Fickian diffusion model. The water resistance capacity of PI was greatly enhanced and moisture diffusion in the pure PI was retarded by incorporating the TZnO-W. The PI composite films based on TZNO-W resultantly may have potential applications in optoelectronic manufacturing processes as a flexible transparent substrate.

Keywords: polyimide (PI), tetrapod ZnO whisker (TZnO-W), transparent, dynamic stress behavior, water resistance

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5006 Defuzzification of Periodic Membership Function on Circular Coordinates

Authors: Takashi Mitsuishi, Koji Saigusa

Abstract:

This paper presents circular polar coordinates transformation of periodic fuzzy membership function. The purpose is identification of domain of periodic membership functions in consequent part of IF-THEN rules. The proposed methods are applied to the simple color construct system.

Keywords: periodic membership function, polar coordinates transformation, defuzzification, circular coordinates

Procedia PDF Downloads 293
5005 Hybrid Equity Warrants Pricing Formulation under Stochastic Dynamics

Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

Abstract:

A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic

Procedia PDF Downloads 115