Search results for: theoretical calculations
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4288

Search results for: theoretical calculations

2668 ABET Accreditation Process for Engineering and Technology Programs: Detailed Process Flow from Criteria 1 to Criteria 8

Authors: Amit Kumar, Rajdeep Chakrabarty, Ganesh Gupta

Abstract:

This paper illustrates the detailed accreditation process of Accreditation Board of Engineering and Technology (ABET) for accrediting engineering and Technology programs. ABET is a non-governmental agency that accredits engineering and technology, applied and natural sciences, and computing sciences programs. ABET was founded on 10th May 1932 and was founded by Institute of Electrical and Electronics Engineering. International industries accept ABET accredited institutes having the highest standards in their academic programs. In this accreditation, there are eight criteria in general; criterion 1 describes the student outcome evaluations, criteria 2 measures the program's educational objectives, criteria 3 is the student outcome calculated from the marks obtained by students, criteria 4 establishes continuous improvement, criteria 5 focus on curriculum of the institute, criteria 6 is about faculties of this institute, criteria 7 measures the facilities provided by the institute and finally, criteria 8 focus on institutional support towards staff of the institute. In this paper, we focused on the calculative part of each criterion with equations and suitable examples, the files and documentation required for each criterion, and the total workflow of the process. The references and the values used to illustrate the calculations are all taken from the samples provided at ABET's official website. In the final section, we also discuss the criterion-wise score weightage followed by evaluation with timeframe and deadlines.

Keywords: Engineering Accreditation Committee, Computing Accreditation Committee, performance indicator, Program Educational Objective, ABET Criterion 1 to 7, IEEE, National Board of Accreditation, MOOCS, Board of Studies, stakeholders, course objective, program outcome, articulation, attainment, CO-PO mapping, CO-PO-SO mapping, PDCA cycle, degree certificates, course files, course catalogue

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2667 Simulation for the Magnetized Plasma Compression Study

Authors: Victor V. Kuzenov, Sergei V. Ryzhkov

Abstract:

Ongoing experimental and theoretical studies on magneto-inertial confinement fusion (Angara, C-2, CJS-100, General Fusion, MagLIF, MAGPIE, MC-1, YG-1, Omega) and new constructing facilities (Baikal, C-2W, Z300 and Z800) require adequate modeling and description of the physical processes occurring in high-temperature dense plasma in a strong magnetic field. This paper presents a mathematical model, numerical method, and results of the computer analysis of the compression process and the energy transfer in the target plasma, used in magneto-inertial fusion (MIF). The computer simulation of the compression process of the magnetized target by the high-power laser pulse and the high-speed plasma jets is presented. The characteristic patterns of the two methods of the target compression are being analysed.

Keywords: magnetized target, magneto-inertial fusion, mathematical model, plasma and laser beams

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2666 Guests’ Satisfaction and Intention to Revisit Smart Hotels: Qualitative Interviews Approach

Authors: Raymond Chi Fai Si Tou, Jacey Ja Young Choe, Amy Siu Ian So

Abstract:

Smart hotels can be defined as the hotel which has an intelligent system, through digitalization and networking which achieve hotel management and service information. In addition, smart hotels include high-end designs that integrate information and communication technology with hotel management fulfilling the guests’ needs and improving the quality, efficiency and satisfaction of hotel management. The purpose of this study is to identify appropriate factors that may influence guests’ satisfaction and intention to revisit Smart Hotels based on service quality measurement of lodging quality index and extended UTAUT theory. Unified Theory of Acceptance and Use of Technology (UTAUT) is adopted as a framework to explain technology acceptance and use. Since smart hotels are technology-based infrastructure hotels, UTATU theory could be as the theoretical background to examine the guests’ acceptance and use after staying in smart hotels. The UTAUT identifies four key drivers of the adoption of information systems: performance expectancy, effort expectancy, social influence, and facilitating conditions. The extended UTAUT modifies the definitions of the seven constructs for consideration; the four previously cited constructs of the UTAUT model together with three new additional constructs, which including hedonic motivation, price value and habit. Thus, the seven constructs from the extended UTAUT theory could be adopted to understand their intention to revisit smart hotels. The service quality model will also be adopted and integrated into the framework to understand the guests’ intention of smart hotels. There are rare studies to examine the service quality on guests’ satisfaction and intention to revisit in smart hotels. In this study, Lodging Quality Index (LQI) will be adopted to measure the service quality in smart hotels. Using integrated UTAUT theory and service quality model because technological applications and services require using more than one model to understand the complicated situation for customers’ acceptance of new technology. Moreover, an integrated model could provide more perspective insights to explain the relationships of the constructs that could not be obtained from only one model. For this research, ten in-depth interviews are planned to recruit this study. In order to confirm the applicability of the proposed framework and gain an overview of the guest experience of smart hotels from the hospitality industry, in-depth interviews with the hotel guests and industry practitioners will be accomplished. In terms of the theoretical contribution, it predicts that the integrated models from the UTAUT theory and the service quality will provide new insights to understand factors that influence the guests’ satisfaction and intention to revisit smart hotels. After this study identifies influential factors, smart hotel practitioners could understand which factors may significantly influence smart hotel guests’ satisfaction and intention to revisit. In addition, smart hotel practitioners could also provide outstanding guests experience by improving their service quality based on the identified dimensions from the service quality measurement. Thus, it will be beneficial to the sustainability of the smart hotels business.

Keywords: intention to revisit, guest satisfaction, qualitative interviews, smart hotels

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2665 Ab Initio Spectroscopic Study of the Electronic Properties of the (Bana)+ Molecular Ion

Authors: Tahani H. Alluhaybi, Leila Mejrissi

Abstract:

In the present theoretical study, we investigated adiabatically the electronic structure of the (BaNa)+ by the use of the ab initio calculation. We optimized a large atomic GTO basis set for Na and Ba atoms. The (BaNa)+ molecular ion is considered a two-electron thank to a non-empirical pseudo-potentials approach applied to Ba and Na cores with the Core Polarization Potentials operator (CPP). Then, we performed the Full Configuration Interaction (FCI) method. Accordingly, we calculated the adiabatic Potential Energy Curves (PECs) and their spectroscopic constants (well depth De, transition energies Te, the equilibrium distances Re, vibrational constant ⍵e, and anharmonic constant ⍵exe) for 10 electronic states in Σ+ symmetry. Then we determined the vibrational level energies and their spacing, and the electric Permanent Dipole Moments (PDM).

Keywords: Ab initio, dipole moment, non-empirical pseudo-potential, potential energy curves, spectroscopic constants, vibrational energy

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2664 Matching Human Competencies with Mobile Technology and Business Strategy in Women-Led SMEs

Authors: Deborah O. Ajumobi, Michael Kyobe

Abstract:

Studies show that women entrepreneurs are constrained and faced with challenges that inhibit the growth and performance of their businesses. However, with their human competencies, mobile technology and the appropriate business strategy, women-led SMEs can steer their businesses to better performance. While the need for SMEs to align these three elements has been suggested, there is limited knowledge on how SMEs can achieve this and no studies to the authors’ knowledge have examined this in women-led SMEs. This study therefore seeks to fill this gap by investigating how Women-led SMEs can best align these three elements to enhance business performance. In light of this, extensive literature review and theoretical work on the phenomenon has been conducted. Given the existence of the interplay between these three elements, we argue that the perspective of alignment as gestalts is most appropriate in determining the best way women-Led SMEs may align these aspects.

Keywords: women-led SMEs, human Competencies, mobile technology, business strategy, alignment

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2663 Problems Occurring in the Process of Audit by Taking into Consideration their Theoretic Aspects against the Background of Reforms Conducted in a Country: The Example of Georgia

Authors: Levan Sabauri

Abstract:

The purpose of this article is an examination of the meaning of theoretic aspects of audit in the context of solving of specific problems of the audit. The audit’s aim is the estimation of financial statements by the auditor, i.e. if they are prepared according to the basic requirements of current financial statements. By examination of concrete examples, we can clearly see problems created in an audit and in often cases, those contradictions which can be caused by incompliance of matters regulated by legislation and by reality. An important part of this work is the analysis of reform in the direction of business accounting, statements and audit in Georgia and its comparison with EU countries. In the article, attention is concentrated on the analysis of specific problems of auditing practice and ways of their solving by taking into consideration theoretical aspects of the audit are proposed.

Keywords: audit, auditor, auditors’ ethic code, auditor’s risk, financial statement, objectivity

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2662 Tuning Cubic Equations of State for Supercritical Water Applications

Authors: Shyh Ming Chern

Abstract:

Cubic equations of state (EoS), popular due to their simple mathematical form, ease of use, semi-theoretical nature and, reasonable accuracy are normally fitted to vapor-liquid equilibrium P-v-T data. As a result, They often show poor accuracy in the region near and above the critical point. In this study, the performance of the renowned Peng-Robinson (PR) and Patel-Teja (PT) EoS’s around the critical area has been examined against the P-v-T data of water. Both of them display large deviations at critical point. For instance, PR-EoS exhibits discrepancies as high as 47% for the specific volume, 28% for the enthalpy departure and 43% for the entropy departure at critical point. It is shown that incorporating P-v-T data of the supercritical region into the retuning of a cubic EoS can improve its performance above the critical point dramatically. Adopting a retuned acentric factor of 0.5491 instead of its genuine value of 0.344 for water in PR-EoS and a new F of 0.8854 instead of its original value of 0.6898 for water in PT-EoS reduces the discrepancies to about one third or less.

Keywords: equation of state, EoS, supercritical water, SCW

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2661 Raising High School English Teachers' Awareness of World Englishes

Authors: Julio Cesar Torres Rocha

Abstract:

The present study is a three-stage action research that aims at raising EFL teachers’ awareness of World Englishes (WE) within a critical perspective of inquiry. Through a taught module on English and its varieties, a survey, a reflection paper, and a semi-structured interview were used to collect the data. The results of the study showed that there was a clear change of conception, at the theoretical level, in teachers’ papers. However, WE was regarded as future possibility for action. On the one hand, all of the participants said the module changed their conception of other varieties of English different from British and American ones. They all went from identifying themselves with either American or British variety, a celebratory perspective, to acknowledging and accepting other English varieties, a critical perspective of English as an international language (EIL).

Keywords: teachers’ s awareness, English as an international language, introducing world Englishes, critical applied linguistics

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2660 Creative Self-efficacy and Innovation Speed of New Ventures: The Mediating Role of Entrepreneurial Bricolage

Authors: Yi-Wen Chen, Hsueh-Liang Fan

Abstract:

Evidence shows that start-ups success is positively correlated with innovation speed. However, new ventures are seldom able to acquire abundant resources for new product development (NPD), which means that entrepreneurs may depend on personal creativity instead of physical investments to achieve and accelerate speed of first product launch. This study accentuates the role of entrepreneurial bricolage, which defined as making do by applying combinations of the resources at hand to new problems and opportunities, in the relations of creative self-efficacy and innovation speed. This study uses structural equation modeling to test the hypotheses in a sample of 203 start-ups operating various creative markets. Results reveal that creative self-efficacy is positively and directly associated with innovation speed, whereas entrepreneurial bricolage plays a full mediator. These findings offer important theoretical and practical implications.

Keywords: creative self-efficacy, innovation speed, entrepreneurial bricolage, new ventures

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2659 Mixed Frequency Excitation of an Electrostatically Actuated Resonator

Authors: Abdallah H. Ramini, Alwathiqbellah I. Ibrahim, Mohammad I. Younis

Abstract:

We investigate experimentally and theoretically the dynamics of a capacitive resonator under mixed frequency excitation of two AC harmonic signals. The resonator is composed of a proof mass suspended by two cantilever beams. Experimental measurements are conducted using a laser Doppler Vibrometer to reveal the interesting dynamics of the system when subjected to two-source excitation. A nonlinear single-degree-of-freedom model is used for the theoretical investigation. The results reveal combination resonances of additive and subtractive type, which are shown to be promising to increase the bandwidth of the resonator near primary resonance frequency. Our results also demonstrate the ability to shift the combination resonances to much lower or much higher frequency ranges. We also demonstrate the dynamic pull-in instability under mixed frequency excitation.

Keywords: electrostatically actuated resonator, multi-frequency excitation, nonlinear dynamics, AC harmonic signals

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2658 The Shape of the Sculptor: Exploring Psychologist’s Perceptions of a Model of Parenting Ability to Guide Intervention in Child Custody Evaluations in South Africa

Authors: Anthony R. Townsend, Robyn L. Fasser

Abstract:

This research project provides an interpretative phenomenological analysis of a proposed conceptual model of parenting ability that has been designed to offer recommendations to guide intervention in child custody evaluations in South Africa. A recent review of the literature on child custody evaluations reveals that while there have been significant and valuable shifts in the capacity of the legal system aided by mental health professionals in understanding children and family dynamics, there remains a conceptual gap regarding the nature of parenting ability. With a view to addressing this paucity of a theoretical basis for considering parenting ability, this research project reviews a dimensional model for the assessment of parenting ability by conceiving parenting ability as a combination of good parenting and parental fitness. This model serves as a conceptual framework to guide child-custody evaluation and refine intervention in such cases to better meet the best interests of the child in a manner that bridges the professional gap between parties, legal entities, and mental health professionals. Using a model of good parenting as a point of theoretical departure, this model incorporates both intra-psychic and interpersonal attributes and behaviours of parents to form an impression of parenting ability and identify areas for potential enhancement. This research, therefore, hopes to achieve the following: (1) to provide nuanced descriptions of parents’ parenting ability; (2) to describe parents’ parenting potential; (3) to provide a parenting assessment tool for investigators in forensic family matters that will enable more useful recommendations and interventions; (4) to develop a language of consensus for investigators, attorneys, judges and parents, in forensic family matters, as to what comprises parenting ability and how this can be assessed; and (5) that all of the aforementioned will serve to advance the best interests of the children involved in such litigious matters. The evaluative promise and post-assessment prospects of this model are illustrated through three interlinking data sets: (1) the results of interviews with South African psychologists about the model, (2) retrospective analysis of care and contact evaluation reports using the model to determine if different conclusions or more specific recommendations are generated with its use and (3) the results of an interview with a psychologist who piloted this model by using it in care and contact evaluation.

Keywords: alienation, attachment, best interests of the child, care and contact evaluation, children’s act (38 of 2005), child custody evaluation, civil forensics, gatekeeping, good parenting, good-enough parenting, health professions council of South Africa, family law, forensic mental healthcare practitioners, parental fitness, parenting ability, parent management training, parenting plan, problem-determined system, psychotherapy, support of other child-parent relationship, voice of the child

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2657 The Implications of Person-Organisation Spirituality Fit on Employees’ Ethical and Spiritual Leadership Behaviours: Insights from Jordan

Authors: Tamer Koburtay, Radi Haloub

Abstract:

Person-Organization fit theory concerns how people flourish in a workplace that is congruence with their values and other traits. This paper seeks to highlight the theoretical relevance that workplace spirituality may add to the existing theory development of the P-O fit. In specific, it aims to empirically test the emerged framework that encompasses how workplace and self-spirituality match may enhance the perceived P-O fit, and how such a fit can enhance both employees’ ethical behaviors (i.e., humanism and honesty) and spiritual leadership behaviors. Drawing on a survey of the private and public sectors in Jordan, the results reveal that increasing the match in workplace and employees’ spirituality positively enhances the perceived P-O fit. Further, ethical and spiritual behaviors were found to be positively linked with a higher P-O fit. The importance of this paper is by generating a concept (i.e., P-O spirituality fit) beyond the already vast literature on P-O fit.

Keywords: ethical behavior, leadership, P-O fit, spirituality, leadership

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2656 Obstacles to Innovation for SMEs: Evidence from Germany

Authors: Natalia Strobel, Jan Kratzer

Abstract:

Achieving effective innovation is a complex task and during this process firms (especially SMEs) often face obstacles. However, research into obstacles to innovation focusing on SMEs is very scarce. In this study, we propose a theoretical framework for describing these obstacles to innovation and investigate their influence on the innovative performance of SMEs. Data were collected in 2013 through face-to-face interviews with executives of 49 technology SMEs from Germany. The semi-structured interviews were designed on the basis of scales for measuring innovativeness, financial/competitive performance and obstacles to innovation, next to purely open questions. We find that the internal obstacles lack the know-how, capacity overloading, unclear roles and tasks, as well as the external obstacle governmental bureaucracy negatively influence the innovative performance of SMEs. However, in contrast to prior findings this study shows that cooperation ties of firms might also negatively influence the innovative performance.

Keywords: innovation, innovation process, obstacles, SME

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2655 Impact of Financial Factors on Total Factor Productivity: Evidence from Indian Manufacturing Sector

Authors: Lopamudra D. Satpathy, Bani Chatterjee, Jitendra Mahakud

Abstract:

The rapid economic growth in terms of output and investment necessitates a substantial growth of Total Factor Productivity (TFP) of firms which is an indicator of an economy’s technological change. The strong empirical relationship between financial sector development and economic growth clearly indicates that firms financing decisions do affect their levels of output via their investment decisions. Hence it establishes a linkage between the financial factors and productivity growth of the firms. To achieve the smooth and continuous economic growth over time, it is imperative to understand the financial channel that serves as one of the vital channels. The theoretical or logical argument behind this linkage is that when the internal financial capital is not sufficient enough for the investment, the firms always rely upon the external sources of finance. But due to the frictions and existence of information asymmetric behavior, it is always costlier for the firms to raise the external capital from the market, which in turn affect their investment sentiment and productivity. This kind of financial position of the firms puts heavy pressure on their productive activities. Keeping in view this theoretical background, the present study has tried to analyze the role of both external and internal financial factors (leverage, cash flow and liquidity) on the determination of total factor productivity of the firms of manufacturing industry and its sub-industries, maintaining a set of firm specific variables as control variables (size, age and disembodied technological intensity). An estimate of total factor productivity of the Indian manufacturing industry and sub-industries is computed using a semi-parametric approach, i.e., Levinsohn- Petrin method. It establishes the relationship between financial factors and productivity growth of 652 firms using a dynamic panel GMM method covering the time period between 1997-98 and 2012-13. From the econometric analyses, it has been found that the internal cash flow has a positive and significant impact on the productivity of overall manufacturing sector. The other financial factors like leverage and liquidity also play the significant role in the determination of total factor productivity of the Indian manufacturing sector. The significant role of internal cash flow on determination of firm-level productivity suggests that access to external finance is not available to Indian companies easily. Further, the negative impact of leverage on productivity could be due to the less developed bond market in India. These findings have certain implications for the policy makers to take various policy reforms to develop the external bond market and easily workout through which the financially constrained companies will be able to raise the financial capital in a cost-effective manner and would be able to influence their investments in the highly productive activities, which would help for the acceleration of economic growth.

Keywords: dynamic panel, financial factors, manufacturing sector, total factor productivity

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2654 The Monitoring of Surface Water Bodies from Tisa Catchment Area, Maramureş County in 2014

Authors: Gabriela-Andreea Despescu, Mădălina Mavrodin, Gheorghe Lăzăroiu, S. Nacu, R. Băstinaş

Abstract:

The Monitoring of Surface Water Bodies (Rivers) from Tisa Catchment Area - Maramureş County in 2014. This study is focused on the monitoring and evaluation of river’s water bodies from Maramureş County, using the methodology associated with the EU Water Framework Directive 60/2000. Thus, in the first part are defined the theoretical terms of monitoring activities related to the water bodies’ quality and the specific features of those we can find in the studied area. There are presented the water bodies’ features, quality indicators and the monitoring frequencies for the rivers situated in the Tisa catchment area. The results have shown the actual ecological and chemical state of those water bodies, in relation with the standard values mentioned through the Water Framework Directive.

Keywords: monitoring, surveillance, water bodies, quality

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2653 Exploring the Nature and Meaning of Theory in the Field of Neuroeducation Studies

Authors: Ali Nouri

Abstract:

Neuroeducation is one of the most exciting research fields which is continually evolving. However, there is a need to develop its theoretical bases in connection to practice. The present paper is a starting attempt in this regard to provide a space from which to think about neuroeducational theory and invoke more investigation in this area. Accordingly, a comprehensive theory of neuroeducation could be defined as grouping or clustering of concepts and propositions that describe and explain the nature of human learning to provide valid interpretations and implications useful for educational practice in relation to philosophical aspects or values. Whereas it should be originated from the philosophical foundations of the field and explain its normative significance, it needs to be testable in terms of rigorous evidence to fundamentally advance contemporary educational policy and practice. There is thus pragmatically a need to include a course on neuroeducational theory into the curriculum of the field. In addition, there is a need to articulate and disseminate considerable discussion over the subject within professional journals and academic societies.

Keywords: neuroeducation studies, neuroeducational theory, theory building, neuroeducation research

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2652 Fiber Orientation Measurements in Reinforced Thermoplastics

Authors: Ihsane Modhaffar

Abstract:

Fiber orientation is essential for the physical properties of composite materials. The theoretical parameters of a given reinforcement are usually known and widely used to predict the behavior of the material. In this work, we propose an image processing approach to estimate true principal directions and fiber orientation during injection molding processes of short fiber reinforced thermoplastics. Generally, a group of fibers are described in terms of probability distribution function or orientation tensor. Numerical techniques for the prediction of fiber orientation are also considered for concentrated situations. The flow was considered to be incompressible, and behave as Newtonian fluid containing suspensions of short-fibers. The governing equations, of this problem are: the continuity, the momentum and the energy. The obtained results were compared to available experimental findings. A good agreement between the numerical results and the experimental data was achieved.

Keywords: injection, composites, short-fiber reinforced thermoplastics, fiber orientation, incompressible fluid, numerical simulation

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2651 Analysis of Some Produced Inhibitors for Corrosion of J55 Steel in NaCl Solution Saturated with CO₂

Authors: Ambrish Singh

Abstract:

The corrosion inhibition performance of pyran (AP) and benzimidazole (BI) derivatives on J55 steel in 3.5% NaCl solution saturated with CO₂ was investigated by electrochemical, weight loss, surface characterization, and theoretical studies. The electrochemical studies included electrochemical impedance spectroscopy (EIS), potentiodynamic polarization (PDP), electrochemical frequency modulation (EFM), and electrochemical frequency modulation trend (EFMT). Surface characterization was done using contact angle, scanning electron microscopy (SEM), and atomic force microscopy (AFM) techniques. DFT and molecular dynamics (MD) studies were done using Gaussian and Materials Studio softwares. All the studies suggested the good inhibition by the synthesized inhibitors on J55 steel in 3.5% NaCl solution saturated with CO₂ due to the formation of a protective film on the surface. Molecular dynamic simulation was applied to search for the most stable configuration and adsorption energies for the interaction of the inhibitors with Fe (110) surface.

Keywords: corrosion, inhibitor, EFM, AFM, DFT, MD

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2650 Challenges of Cryogenic Fluid Metering by Coriolis Flowmeter

Authors: Evgeniia Shavrina, Yan Zeng, Boo Cheong Khoo, Vinh-Tan Nguyen

Abstract:

The present paper is aimed at providing a review of error sources in cryogenic metering by Coriolis flowmeters (CFMs). Whereas these flowmeters allow accurate water metering, high uncertainty and low repeatability are commonly observed at cryogenic fluid metering, which is often necessary for effective renewable energy production and storage. The sources of these issues might be classified as general and cryogenic specific challenges. A conducted analysis of experimental and theoretical studies shows that material behaviour at cryogenic temperatures, composition variety, and multiphase presence are the most significant cryogenic challenges. At the same time, pipeline diameter limitation, ambient vibration impact, and drawbacks of the installation may be highlighted as the most important general challenges of cryogenic metering by CFM. Finally, the techniques, which mitigate the impact of these challenges are reviewed, and future development direction is indicated.

Keywords: Coriolis flowmeter, cryogenic, multicomponent flow, multiphase flow

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2649 Post-Quantum Resistant Edge Authentication in Large Scale Industrial Internet of Things Environments Using Aggregated Local Knowledge and Consistent Triangulation

Authors: C. P. Autry, A. W. Roscoe, Mykhailo Magal

Abstract:

We discuss the theoretical model underlying 2BPA (two-band peer authentication), a practical alternative to conventional authentication of entities and data in IoT. In essence, this involves assembling a virtual map of authentication assets in the network, typically leading to many paths of confirmation between any pair of entities. This map is continuously updated, confirmed, and evaluated. The value of authentication along multiple disjoint paths becomes very clear, and we require analogues of triangulation to extend authentication along extended paths and deliver it along all possible paths. We discover that if an attacker wants to make an honest node falsely believe she has authenticated another, then the length of the authentication paths is of little importance. This is because optimal attack strategies correspond to minimal cuts in the authentication graph and do not contain multiple edges on the same path. The authentication provided by disjoint paths normally is additive (in entropy).

Keywords: authentication, edge computing, industrial IoT, post-quantum resistance

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2648 The Properties of Risk-based Approaches to Asset Allocation Using Combined Metrics of Portfolio Volatility and Kurtosis: Theoretical and Empirical Analysis

Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia

Abstract:

Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.

Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation

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2647 Software Development for AASHTO and Ethiopian Roads Authority Flexible Pavement Design Methods

Authors: Amare Setegn Enyew, Bikila Teklu Wodajo

Abstract:

The primary aim of flexible pavement design is to ensure the development of economical and safe road infrastructure. However, failures can still occur due to improper or erroneous structural design. In Ethiopia, the design of flexible pavements relies on doing calculations manually and selecting pavement structure from catalogue. The catalogue offers, in eight different charts, alternative structures for combinations of traffic and subgrade classes, as outlined in the Ethiopian Roads Authority (ERA) Pavement Design Manual 2001. Furthermore, design modification is allowed in accordance with the structural number principles outlined in the AASHTO 1993 Guide for Design of Pavement Structures. Nevertheless, the manual calculation and design process involves the use of nomographs, charts, tables, and formulas, which increases the likelihood of human errors and inaccuracies, and this may lead to unsafe or uneconomical road construction. To address the challenge, a software called AASHERA has been developed for AASHTO 1993 and ERA design methods, using MATLAB language. The software accurately determines the required thicknesses of flexible pavement surface, base, and subbase layers for the two methods. It also digitizes design inputs and references like nomographs, charts, default values, and tables. Moreover, the software allows easier comparison of the two design methods in terms of results and cost of construction. AASHERA's accuracy has been confirmed through comparisons with designs from handbooks and manuals. The software can aid in reducing human errors, inaccuracies, and time consumption as compared to the conventional manual design methods employed in Ethiopia. AASHERA, with its validated accuracy, proves to be an indispensable tool for flexible pavement structure designers.

Keywords: flexible pavement design, AASHTO 1993, ERA, MATLAB, AASHERA

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2646 Mean Square Responses of a Cantilever Beam with Various Damping Mechanisms

Authors: Yaping Zhao, Yimin Zhang

Abstract:

In the present paper, the stationary random vibration of a uniform cantilever beam is investigated. Two types of damping mechanism, i.e. the external and internal viscous dampings, are taken into account simultaneously. The excitation form is the support motion, and it is ideal white. Because two type of damping mechanism are considered concurrently, the product of the modal damping ratio and the natural frequency is not a constant anymore. As a result, the infinite definite integral encountered in the process of computing the mean square response is more complex than that in the existing literature. One signal progress of this work is to have calculated these definite integrals accurately. The precise solution of the mean square response is thus obtained in the infinite series form finally. Numerical examples are supplied and the numerical outcomes acquired confirm the validity of the theoretical analyses.

Keywords: random vibration, cantilever beam, mean square response, white noise

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2645 Students’ Experiential Knowledge Production in the Teaching-Learning Process of Universities

Authors: Didiosky Benítez-Erice, Frederik Questier, Dalgys Pérez-Luján

Abstract:

This paper aims to present two models around the production of students’ experiential knowledge in the teaching-learning process of higher education: the teacher-centered production model and the student-centered production model. From a range of knowledge management and experiential learning theories, the paper elaborates into the nature of students’ experiential knowledge and proposes further adjustments of existing second-generation knowledge management theories taking into account the particularities of higher education. Despite its theoretical nature the paper can be relevant for future studies that stress student-driven improvement and innovation at higher education institutions.

Keywords: experiential knowledge, higher education, knowledge management, teaching-learning process

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2644 Convective Boiling of CO₂ in Macro and Mini-Channels

Authors: Adonis Menezes, Julio C. Passos

Abstract:

The present work deals with the theoretical and experimental investigation of the convective boiling of CO₂ in macro and mini-channels. A review of the state of the art of convective boiling studies in mini-channels and conventional channels for operating with CO₂ was carried out, with special attention to the flow patterns and pressure drop maps in single-phase and two-phase flows. To carry out an experimental analysis of the convective boiling of CO₂, a properly instrumented experimental bench was built, which allows a parametric analysis for different thermodynamic conditions, such as mass velocities between 200 and 1300 kg/(m².s), pressures between 20 and 70bar, temperature monitoring at the entrance of the mini-channels, heat flow and pressure drop in the test section. The visualization of flow patterns was possible with the use of a high-speed CMOS camera. The results obtained are in line with those found in the literature, both for flow patterns and for the heat transfer coefficient.

Keywords: carbon dioxide, convective boiling, CO₂, mini-channels

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2643 Computational Fluid Dynamics Model of Various Types of Rocket Engine Nozzles

Authors: Konrad Pietrykowski, Michal Bialy, Pawel Karpinski, Radoslaw Maczka

Abstract:

The nozzle is an element of the rocket engine in which the conversion of the potential energy of gases generated during combustion into the kinetic energy of the gas stream takes place. The design parameters of the nozzle have a decisive influence on the ballistic characteristics of the engine. Designing a nozzle assembly is, therefore, one of the most responsible stages in developing a rocket engine design. The paper presents the results of the simulation of three types of rocket propulsion nozzles. Calculations were made using CFD (Computational Fluid Dynamics) in ANSYS Fluent software. The next types of nozzles differ in shape. The analysis was made of a conical nozzle, a bell type nozzle with a conical supersonic part and a bell type nozzle. Calculation results are presented in the form of pressure, velocity and kinetic energy distributions of turbulence in the longitudinal section. The courses of these values along the nozzles are also presented. The results show that the cone nozzle generates strong turbulence in the critical section. Which negatively affect the flow of the working medium. In the case of a bell nozzle, the transformation of the wall caused the elimination of flow disturbances in the critical section. This reduces the probability of waves forming before or after the trailing edge. The most sophisticated construction is the bell type nozzle. It allows you to maximize performance without adding extra weight. The bell type nozzle can be used as a starter and auxiliary engine nozzle due to its advantages. The project/research was financed in the framework of the project Lublin University of Technology-Regional Excellence Initiative, funded by the Polish Ministry of Science and Higher Education (contract no. 030/RID/2018/19).

Keywords: computational fluid dynamics, nozzle, rocket engine, supersonic flow

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2642 Evolution of Classroom Languaging in Multilingual Contexts: Challenges and Prospects

Authors: Jabulani Sibanda, Clemence Chikiwa

Abstract:

This paper traces diverse language practices representative of equally diverse conceptions of language. To be dynamic with languaging practices, one needs to appreciate nuanced languaging practices, their challenges, prospects, and opportunities. The paper presents what we envision as three major conceptions of language that give impetus to diverse language practices. It examines theoretical models of the bilingual mental lexicon and how they inform language practices. The paper explores classroom languaging practices that have been promulgated and experimented with. The paper advocates the deployment of multisensory semiotic systems to complement linguistic classroom communication and the acknowledgement of learners’ linguistic and semiotic resources as valid in the learning enterprise. It recommends the enactment of specific clauses on language in education policies and curriculum documents that empower classroom interactants to exercise discretion in languaging practices.

Keywords: languaging, monolingual, multilingual, semiotic and linguistic repertoire

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2641 Effect of Magnetic Field on Mixed Convection Boundary Layer Flow over an Exponentially Shrinking Vertical Sheet with Suction

Authors: S. S. P. M. Isa, N. M. Arifin, R. Nazar, N. Bachok, F. M. Ali, I. Pop

Abstract:

A theoretical study has been presented to describe the boundary layer flow and heat transfer on an exponentially shrinking sheet with a variable wall temperature and suction, in the presence of magnetic field. The governing nonlinear partial differential equations are converted into ordinary differential equations by similarity transformation, which are then solved numerically using the shooting method. Results for the skin friction coefficient, local Nusselt number, velocity profiles as well as temperature profiles are presented through graphs and tables for several sets of values of the parameters. The effects of the governing parameters on the flow and heat transfer characteristics are thoroughly examined.

Keywords: exponentially shrinking sheet, magnetic field, mixed convection, suction

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2640 Partisan Agenda Setting in Digital Media World

Authors: Hai L. Tran

Abstract:

Previous research on agenda setting effects has often focused on the top-down influence of the media at the aggregate level, while overlooking the capacity of audience members to select media and content to fit their individual dispositions. The decentralized characteristics of online communication and digital news create more choices and greater user control, thereby enabling each audience member to seek out a unique blend of media sources, issues, and elements of messages and to mix them into a coherent individual picture of the world. This study examines how audiences use media differently depending on their prior dispositions, thereby making sense of the world in ways that are congruent with their preferences and cognitions. The current undertaking is informed by theoretical frameworks from two distinct lines of scholarship. According to the ideological migration hypothesis, individuals choose to live in communities with ideologies like their own to satisfy their need to belong. One tends to move away from Zip codes that are incongruent and toward those that are more aligned with one’s ideological orientation. This geographical division along ideological lines has been documented in social psychology research. As an extension of agenda setting, the agendamelding hypothesis argues that audiences seek out information in attractive media and blend them into a coherent narrative that fits with a common agenda shared by others, who think as they do and communicate with them about issues of public. In other words, individuals, through their media use, identify themselves with a group/community that they want to join. Accordingly, the present study hypothesizes that because ideology plays a role in pushing people toward a physical community that fits their need to belong, it also leads individuals to receive an idiosyncratic blend of media and be influenced by such selective exposure in deciding what issues are more relevant. Consequently, the individualized focus of media choices impacts how audiences perceive political news coverage and what they know about political issues. The research project utilizes recent data from The American Trends Panel survey conducted by Pew Research Center to explore the nuanced nature of agenda setting at the individual level and amid heightened polarization. Hypothesis testing is performed with both nonparametric and parametric procedures, including regression and path analysis. This research attempts to explore the media-public relationship from a bottom-up approach, considering the ability of active audience members to select among media in a larger process that entails agenda setting. It helps encourage agenda-setting scholars to further examine effects at the individual, rather than aggregate, level. In addition to theoretical contributions, the study’s findings are useful for media professionals in building and maintaining relationships with the audience considering changes in market share due to the spread of digital and social media.

Keywords: agenda setting, agendamelding, audience fragmentation, ideological migration, partisanship, polarization

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2639 Research on the Planning and Design of National Park Gateway Communities from the Perspective of Nature Education

Authors: Yulin Liang

Abstract:

Under the background of protecting ecology, natural education is an effective way for people to understand nature. At the same time, it is a new means of sustainable development of eco-tourism, which can improve the functions of China's protected areas and develop new business formats for the development of national parks. This study takes national park gateway communities as the research object and uses literature review, inductive reasoning and other research methods to sort out the development process of natural education in China and the research progress of natural education design in national park gateway communities. Finally, we discuss how gateway communities can use natural education to transform their development methods and provide a theoretical and practical basis for the development of gateway communities in national parks.

Keywords: natural education, gateway communities, national parks, sustainable development

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