Search results for: cointegration approach in panel data

Authors: Alexandra McKinzie, Lucy Brown, Sarah Komanapalli, Sarah Swiezy, Caitlin Bernard

Abstract:

Background: While 25% of US women will seek an abortion before age 45, targeted laws have led to a decline in abortion clinics, subsequently leaving 96% of Indiana counties and the 70% of Hoosier women residing in these counties without access to services they desperately need.1,2 Despite the need for a physician workforce that is educated and able to provide full-spectrum reproductive health care, few medical institutions have a standardized family planning and abortion pre-clinical curriculum. Methods: A Qualtrics survey was disseminated to students from Indiana University School of Medicine (IUSM) to evaluate (1) student interest in curriculum reform, (2) self-assessed preparedness to counsel on contraceptive and pregnancy options, and (3) preferred modality of instruction for family planning and abortion topics. Based on the pre-panel survey feedback, a case-based pregnancy options counseling panel will be implemented in the students’ pre-clinical, didactic course Endocrine, Reproductive, Musculoskeletal, Dermatologic Systems (ERMD) in February 2022. A Qualtrics post-panel survey will be disseminated to evaluate students’ perceived efficacy and quality of the panel, as well as their self-assessed preparedness to counsel on pregnancy options. Results: Participants in the pre-panel survey (n=303) were primarily female (61.72%) and White (74.43%). Across all class levels, many (60.80%) students expected to learn about family planning and abortion in their pre-clinical education. While most (84-88%) participants felt prepared to counsel about common, non-controversial pharmacotherapies (e.g. beta-blockers and diuretics), only 20% of students felt prepared to counsel on abortion options. Overall, 85.67% of students believed that IUSM should enhance its reproductive health coverage in pre-clinical, didactic courses. Traditional lectures, panels, and direct clinical exposure were the most popular instructional modalities. Expected Results: The authors predict that following the panel, students will indicate improved confidence in providing pregnancy options counseling. Additionally, students will provide constructive feedback on the structure and content of the panel for incorporation into future years’ curriculum. Conclusions: IUSM students overwhelmingly expressed interest in expanding their pre-clinical curriculum’s coverage of family planning and abortion topics. To specifically improve students’ self-assessed preparedness to provide pregnancy options counseling and address students’ self-cited learning gaps, a case-based provider panel session will be implemented in response to students’ preferred modality feedback.

Keywords: options counseling, family planning, abortion, curriculum reform, case-based panel

Procedia PDF Downloads 146

Authors: Harry Aginta

Abstract:

Using Phillips curve framework, this paper seeks for new empirical evidence on the relationship between inflation and output in a major emerging economy. By exploiting sub-national data, the contribution of this paper is threefold. First, it resolves the issue of using on-target national inflation rates that potentially causes weakening inflation-output nexus. This is very relevant for Indonesia as its central bank has been adopting inflation targeting framework based on national consumer price index (CPI) inflation. Second, the study tests the relevance of mining sector in output gap estimation. The test for mining sector is important to control for the effects of mining regulation and nominal effects of coal prices on real economic activities. Third, the paper applies panel econometric method by incorporating regional variation that help to improve model estimation. The results from this paper confirm the strong presence of Phillips curve in Indonesia. Positive output gap that reflects excess demand condition gives rise to the inflation rates. In addition, the elasticity of output gap is higher if the mining sector is excluded from output gap estimation. In addition to inflation adaptation, the dynamics of exchange rate and international commodity price are also found to affect inflation significantly. The results are robust to the alternative measurement of output gap

Keywords: Phillips curve, inflation, Indonesia, panel data

Procedia PDF Downloads 125

Authors: Zainab Almukhtar, Adel Merabet

Abstract:

In this paper, a method for maximum power point tracking of a photovoltaic energy conversion system is presented. This method is based on using the difference between the power from the solar panel and an estimated power value to control the DC-DC converter of the photovoltaic system. The difference is continuously compared with a preset error permitted value. If the power difference is more than the error, the estimated power is multiplied by a factor and the operation is repeated until the difference is less or equal to the threshold error. The difference in power will be used to trigger a DC-DC boost converter in order to raise the voltage to where the maximum power point is achieved. The proposed method was experimentally verified through a PV energy conversion system driven by the OPAL-RT real time controller. The method was tested on varying radiation conditions and load requirements, and the Photovoltaic Panel was operated at its maximum power in different conditions of irradiation.

Keywords: control system, error, solar panel, MPPT tracking

Procedia PDF Downloads 284

Authors: Adelakun O. Johnson

Abstract:

The quest to mitigate the probable adverse effects of geopolitical risk on FDI inflows tends to result in more frequent changes in economic policies and, as a result, heightened policy uncertainty. In this regard, we extend the literature on the dynamics of FDI inflows to include the hypothesis of the possibility of geopolitical risk escalating the adverse effects of economic policy uncertainty on FDI inflows. To test the robustness of this hypothesis, we use the cases of different economic groups characterized by different levels of economic development and varying degrees of FDI confidence. Employing an ARDL-based dynamic panel data model that accounts for both non-stationarity and heterogeneity effects, we show result that suggests GPR and EPU retard the inflows of FDI in both economies but mainly in the short-run situation. In the long run, however, higher EPU not attributed to GPR is likely to boost the inflows of FDI rather than retarding, at least in the case of the G7 economy.

Keywords: FDI inflows, geopolitical risk, economic policy uncertainty, panel ARDL model

Procedia PDF Downloads 27

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

Procedia PDF Downloads 341

Authors: Aqeel Zeid, Hasna Anees, Mohamed Adheeb, Mohamed Rifan, Kalpani Manathunga

Abstract:

To achieve constructive alignment in a higher education program, a clear set of learning outcomes must be defined. Traditional learning outcome definition techniques such as Bloom’s taxonomy are not written to be utilized by the student. This might be disadvantageous for students in student-centric learning settings where the students are expected to formulate their own learning strategies. To solve the problem, we propose the learning outcome relation and aggregation (LORA) model. To achieve alignment, we developed learning outcome, assessment, and resource authoring tools which help teachers to tag learning outcomes during creation. A pilot study was conducted with an expert panel consisting of experienced professionals in the education domain to evaluate whether the LORA model and tools present an improvement over the traditional methods. The panel unanimously agreed that the model and tools are beneficial and effective. Moreover, it helped them model learning outcomes in a more student centric and descriptive way.

Keywords: learning design, constructive alignment, Bloom’s taxonomy, learning outcome modelling

Procedia PDF Downloads 188

Authors: Bourama Mane, Ibrahima Fall, Mamadou Samba Camara, Alassane Bah

Abstract:

At the level of the National Statistical Institutes, there is a large volume of data which is generally in a format which conditions the method of publication of the information they contain. Each household or business data collection project includes a dissemination platform for its implementation. Thus, these dissemination methods previously used, do not promote rapid access to information and especially does not offer the option of being able to link data for in-depth processing. In this paper, we present an approach to modeling these data to publish them in a format intended for the Semantic Web. Our objective is to be able to publish all this data in a single platform and offer the option to link with other external data sources. An application of the approach will be made on data from major national surveys such as the one on employment, poverty, child labor and the general census of the population of Senegal.

Keywords: Semantic Web, linked open data, database, statistic

Procedia PDF Downloads 176

Authors: Ida Bagus Mandhara Brasika, I Dewa Gde Sathya Deva

Abstract:

Wolbachia is recently developed as the natural enemy of Dengue virus (DENV). It inhibits the replication of DENV in Aedes aegypti. Both DENV and its vector, Aedes aegypty, are sensitive to climate factor especially temperature. The changing of climate has a direct impact on temperature which means changing the vector transmission. Temperature has been known to effect Wolbachia density as it has an ideal temperature to grow. Some scenarios, which are known as Representative Concentration Pathways (RCPs), have been developed by Intergovernmental Panel on Climate Change (IPCC) to predict the future climate based on greenhouse gases concentration. These scenarios are applied to mitigate the future change of Aedes aegypti migration and how Wolbachia could control the virus. The prediction will determine the schemes to release Wolbachia-injected Aedes aegypti to reduce DENV transmission.

Keywords: Aedes aegypti, climate change, dengue virus, Intergovernmental Panel on Climate Change, representative concentration pathways, Wolbachia

Procedia PDF Downloads 300

Authors: K. C. R. Perera, B. M. Hapuwatte

Abstract:

This paper presents an effective method to divide panels for mesh-less methods of source, vortex and doublet panel methods. In this research study the physical domain of air-foils were transformed into computational domain of a circle using conformal mapping technique of Joukowsky transformation. Then the circle is divided into panels of equal length and the co-ordinates were remapped into physical domain of the air-foil. With this method the leading edge and the trailing edge of the air-foil is panelled with a high density of panels and the rest of the body is panelled with low density of panels. The high density of panels in the leading edge and the trailing edge will increase the accuracy of the solutions obtained from panel methods where the fluid flow at the leading and trailing edges are complex.

Keywords: conformal mapping, Joukowsky transformation, physical domain, computational domain

Procedia PDF Downloads 376

Authors: Wanda Luen-Wun Siu, Xiaowen Zhang

Abstract:

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

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

Procedia PDF Downloads 168

Authors: Daniel Martin Fellows, Sean P. Walton, Jennifer Thompson, Oubay Hassan, Kevin Tinkham, Ella Quigley

Abstract:

Structural integrity for cladding products is a key performance parameter, especially concerning fire performance. Cladding products such as PIR-based sandwich panels are tested rigorously, in line with industrial standards. Physical fire tests are necessary to ensure the customer's safety but can give little information about critical behaviours that can help develop new materials. Numerical modelling is a tool that can help investigate a fire's behaviour further by replicating the fire test. However, fire is an interdisciplinary problem as it is a chemical reaction that behaves fluidly and impacts structural integrity. An analysis using Computational Fluid Dynamics (CFD) and Finite Element Analysis (FEA) is needed to capture all aspects of a fire performance test. One method is a two-way coupling analysis that imports the updated changes in thermal data, due to the fire's behaviour, to the FEA solver in a series of iterations. In light of our recent work with Tata Steel U.K using a two-way coupling methodology to determine the fire performance, it has been shown that a program called FDS-2-Abaqus can make predictions of a BS 476 -22 furnace test with a degree of accuracy. The test demonstrated the fire performance of Tata Steel U.K Trisomet product, a Polyisocyanurate (PIR) based sandwich panel used for cladding. Previous works demonstrated the limitations of the current version of the program, the main limitation being the computational cost of modelling three Trisomet panels, totalling an area of 9 . The computational cost increases substantially, with the intention to scale up to an LPS 1181-1 test, which includes a total panel surface area of 200 .The FDS-2-Abaqus program is developed further within this paper to overcome this obstacle and better accommodate Tata Steel U.K PIR sandwich panels. The new developments aim to reduce the computational cost and error margin compared to experimental data. One avenue explored is a multi-scale approach in the form of Reduced Order Modeling (ROM). The approach allows the user to include refined details of the sandwich panels, such as the overlapping joints, without a computationally costly mesh size.Comparative studies will be made between the new implementations and the previous study completed using the original FDS-2-ABAQUS program. Validation of the study will come from physical experiments in line with governing body standards such as BS 476 -22 and LPS 1181-1. The physical experimental data includes the panels' gas and surface temperatures and mechanical deformation. Conclusions are drawn, noting the new implementations' impact factors and discussing the reasonability for scaling up further to a whole warehouse.

Keywords: fire testing, numerical coupling, sandwich panels, thermo fluids

Procedia PDF Downloads 79

Authors: Hamed Kalhori, Lin Ye

Abstract:

In this study, an inverse method was developed to reconstruct the magnitude and duration of impact forces exerted to a rectangular carbon fibre-epoxy composite honeycomb sandwich panel. The dynamic signals captured by Piezoelectric (PZT) sensors installed on the panel remotely from the impact locations were utilized to reconstruct the impact force generated by an instrumented hammer through an extended deconvolution approach. Two discretized forms of convolution integral are considered; the traditional one with an explicit transfer function and the modified one without an explicit transfer function. Deconvolution, usually applied to reconstruct the time history (e.g. magnitude) of a stochastic force at a defined location, is extended to identify both the location and magnitude of the impact force among a number of potential impact locations. It is assumed that a number of impact forces are simultaneously exerted to all potential locations, but the magnitude of all forces except one is zero, implicating that the impact occurs only at one location. The extended deconvolution is then applied to determine the magnitude as well as location (among the potential ones), incorporating the linear superposition of responses resulted from impact at each potential location. The problem can be categorized into under-determined (the number of sensors is less than that of impact locations), even-determined (the number of sensors equals that of impact locations), or over-determined (the number of sensors is greater than that of impact locations) cases. For an under-determined case, it comprises three potential impact locations and one PZT sensor for the rectangular carbon fibre-epoxy composite honeycomb sandwich panel. Assessments are conducted to evaluate the factors affecting the precision of the reconstructed force. Truncated Singular Value Decomposition (TSVD) and the Tikhonov regularization are independently chosen to regularize the problem to find the most suitable method for this system. The selection of optimal value of the regularization parameter is investigated through L-curve and Generalized Cross Validation (GCV) methods. In addition, the effect of different width of signal windows on the reconstructed force is examined. It is observed that the impact force generated by the instrumented impact hammer is sensitive to the impact locations of the structure, having a shape from a simple half-sine to a complicated one. The accuracy of the reconstructed impact force is evaluated using the correlation co-efficient between the reconstructed force and the actual one. Based on this criterion, it is concluded that the forces reconstructed by using the extended deconvolution without an explicit transfer function together with Tikhonov regularization match well with the actual forces in terms of magnitude and duration.

Keywords: honeycomb composite panel, deconvolution, impact localization, force reconstruction

Procedia PDF Downloads 536

Authors: Mike Tsionas

Abstract:

The paper develops new indices of financial stability based on an explicit model of expected utility maximization by financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be estimated using standard econometric techniques, like GMM for dynamic panel data and latent factor analysis for the estimation of co-variance matrices. An explicit functional form for the utility function is not needed and we show how measures of risk aversion and prudence (downside risk aversion) can be derived and estimated from the model. The model is estimated using data for Eurozone countries and we focus particularly on (i) the use of the modeling approach as an “early warning mechanism”, (ii) the bank- and country-specific estimates of risk aversion and prudence (downside risk aversion), and (iii) the derivation of a generalized measure of risk that relies on loan-price uncertainty.

Keywords: financial stability, banking, expected utility maximization, sub-prime crisis, financial crisis, eurozone, PIIGS

Procedia PDF Downloads 351

Authors: Jianzhou Ni, Hua Fan

Abstract:

It has been determined that supervisor support has a major influence on postgraduate students' academic emotions and is considered a method of successfully anticipating postgraduates' good psychological well-being levels. As a result, by assessing the mediating influence upon academic emotions for contemporary postgraduates in China, this study investigated the tight reciprocal relationship between psychological empowerment and positive mental well-being among postgraduates. To that end, a help enables a theoretical analysis of role clarity, academic emotion, and positive psychological health was developed, and its validity and reliability were demonstrated for the first time using the normalized postgrad relationship with supervisor scale, academic emotion scale, and positive mental scale, as well as questionnaire data from Chinese postgraduate students. This study used the cross-lagged (ARCL) panel model data to longitudinally measure 798 valid data from two survey questions polls taken in 2019 (T1) and 2021 (T2) to investigate the link between supervisor support and positive graduate student mental well-being in a bidirectional relationship of influence. The study discovered that mentor assistance could have a considerable beneficial impact on graduate students' academic emotions and, as a result, indirectly help learners attain positive mental health development. This verifies the theoretical premise that academic emotions partially mediate the effect of mentor support on positive mental health development and argues for the coexistence of the two. The outcomes of this study can help researchers gain a better knowledge of the dynamic interplay among three different research variables: supervisor support, academic emotions, and positive mental health, as well as fill gaps in previous research. In this regard, the study indicated that mentor assistance directly stimulates students' academic drive and assists graduate students in developing good academic emotions, which contributes to the development of positive mental health. However, given the restricted measurement time in this study's cross-lagged panel data and the potential effect of moderating effects other than academic mood on graduate students' good mental health, the results of this study need to be more fully understood and validated.

Keywords: supervisor support, academic emotions, positive mental health, interaction effects, longitudinal cross-lagged measurements

Procedia PDF Downloads 88

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

Abstract:

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

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

Procedia PDF Downloads 448

Authors: Septiany Trisnaningtyas

Abstract:

Purpose: This research aims to examine the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia. A sharp decline in the number of patients coming to the hospital for treatment during the pandemic has an impact on the growth of the pharmaceutical sector and brought major changes in financial position and business performance. Pharmaceutical companies that provide products related to the Covid-19 pandemic can survive and continue to grow. This study investigates the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia associated with the number of Covid-19 cases. Design/methodology/approach: This study uses panel-data regression models to evaluate the influence of the number of Covid-19 confirmed cases on profitability of ninelisted pharmaceuticalcompanies in Indonesia. This research is based on four independent variables that were empirically examined for their relationship with profitability. These variables are liquidity (current ratio), growth rate (sales growth), firm size (total sales), and market power (the Lerner index). Covid-19 case is used as moderating variable. Data of nine pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2018–2021 were extracted from companies’ quarterly annual reports. Findings: In the period during Covid-19, company growth (sales growth) and market power (lerner index) have a positive and significant relationship to ROA and ROE. Total of confirmed Covid-19 cases has a positive and significant relationship to ROA and is proven to have a moderating effect between company’s growth (sales growth) to ROA and ROE and market power (Lerner index) to ROA. Research limitations/implications: Due to data availability, this study only includes data from nine listed pharmaceutical companies in Indonesian Stock exchange and quarterly annual reportscovering the period of 2018-2021. Originality/value: This study focuses onpharmaceutical companies in Indonesia during Covid-19 pandemic. Previous study analyzes the data from pharmaceutical companies’ annual reports since 2014 and focus on universal health coverage (national health insurance) implementation from the Indonesian government. This study analyzes the data using fixed effect panel-data regression models to evaluate the influence of Covid-19 confirmed cases on profitability. Pooled ordinary least squares regression and fixed effects were used to analyze the data in previous study. This study also investigate the moderating effect of Covid-19 confirmed cases to profitability in relevant with the pandemic situation.

Keywords: profitability, indonesia, pharmaceutical, Covid-19

Procedia PDF Downloads 123

Authors: Sarma Binti Aralas

Abstract:

The relationship between property rights and trade specialization is examined for developing and developed countries using panel data analysis. Property rights is measured using the international property rights index while trade specialization is measured using the comparative advantage index. Cross country differences in property rights are hypothesized to lead to differences in trade specialization. Based on the argument that a weak protection of natural resources implies greater trade in resource-intensive goods, developing countries with less defined property rights are hypothesized to have a comparative advantage in resource-based exports while countries with more defined property rights will not have an advantage in resource-intensive goods. Evidence suggests that developing countries with weaker environmental protection index but are rich in natural resources do specialize in the trade of resource-intensive goods. The finding suggests that institutional frameworks to increase the stringency of environmental protection of resources may be needed to diversify exports away from the trade of resource-intensive goods.

Keywords: environmental protection, panel data, renewable resources, trade specialization

Procedia PDF Downloads 450

Authors: Gil Yaron, Rebecca Gordon, John Best, Sunil Choudhary

Abstract:

There have been a number of studies examining the impact of microfinance; however, the magnitude of impact varies across regions, and there has been mixed evidence due to the differences in the nature of interventions, context and the way in which microfinance is implemented. The Rojiroti approach to microfinance involves the creation of women's self-help groups (SHGs), rotated loans from savings and subsequent credit from a Bihar-based NGO. Rojiroti serves customers who are significantly poorer and more marginalised than those typically served by microfinance in India. In the data analysed, more than 90 percent of members are from scheduled caste and tribes (62 percent) or other disadvantaged castes. This paper analyses the impact of Rojiroti microfinance using panel data on 740 new SHG members and 340 women in matched control sites at baseline and after 18 months. We consider changes in assets, children's education, women's mobility and domestic violence among other indicators. These results show significant gains for Rojiroti borrowers relative to control sites for important, but not all, variables. Comparison with more longstanding SHGs (at least 36 months) helps to explain how the borrowing patterns of poor and marginalised SHG members evolve. The context of this intervention is also important; in this case, innovative microfinance is provided too much poorer and marginalised women than is typically the case, and so the results seen are in contrast to numerous studies that show little or no effect of microfinance on the lives of their clients.

Keywords: microfinance, gender, impact, pro-poor

Procedia PDF Downloads 158

Authors: Heba Abdelmotaal

Abstract:

This paper explores the impact of the extent of a company's environmental, social, and governance (ESG) disclosure on credit rating and capital structure. The analysis is based on a sample of 202 firms from the 350 FTSE firms over the period of 2008-2013. ESG disclosure score is measured using Proprietary Bloomberg score based on the extent of a company's Environmental, Social, and Governance (ESG) disclosure. The credit rating is measured by The QuiScore, which is a measure of the likelihood that a company will become bankrupt in the twelve months following the date of calculation. The Capital Structure is measured by long term debt ratio. Two hypotheses are test using panel data regression. The results suggested that the higher degree of ESG disclosure leads to better credit rating. There is significant negative relationship between ESG disclosure and the long term debit percentage. The paper includes implications for the transparency which is resulting of the ESG disclosure could support the Monitoring Function. The monitoring role of disclosure is the increasing in the transparency of the credit rating agencies, also it could affect on managers’ actions. This study provides empirical evidence on the material of ESG disclosure on credit ratings changes and the firms’ capital decision making.

Keywords: capital structure, credit rating agencies, ESG disclosure, panel data regression

Procedia PDF Downloads 360

Authors: C. O. Igberi, M. U. Amadi

Abstract:

This research paper on the impact of import restriction on rice production in Nigeria is aimed at finding/proffering valid solutions to the age long problem of rice self-sufficiency, through a better understanding of policy measures used in the past, in this case, the effectiveness of rice import restriction of the early 90’s. It tries to answer the questions of; import restriction boosting domestic rice production and the macroeconomic determining factors of Gross Domestic Rice Product (GDRP). The research probe is investigated through literature and analytical frameworks, such that time series data on the GDRP, Gross Fixed Capital Formation (GFCF), average foreign rice producers’ prices(PPF), domestic producers’ prices (PPN) and the labour force (LABF) are collated for analysis (with an import restriction dummy variable, POL1). The research objectives/hypothesis are analysed using; Cointegration, Vector Error Correction Model (VECM), Impulse Response Function (IRF) and Granger Causality Test(GCT) methodologies. Results show that in the short-run error correction specification for GDRP, a percentage (1%) deviation away from the long-run equilibrium in a current quarter is only corrected by 0.14% in the subsequent quarter. Also, the rice import restriction policy had no significant effect on the GDRP at this time. Other findings show that the policy period has, in fact, had effects on the PPN and LABF. The choice variables used are valid macroeconomic factors that explain the GDRP of Nigeria, as adduced from the IRF and GCT, and in the long-run. Policy recommendations suggest that the import restriction is not disqualified as a veritable tool for improving domestic rice production, rather better enforcement procedures and strict adherence to the policy dictates is needed. Furthermore, accompanying policies which drive public and private capital investment and accumulation must be introduced. Also, employment rate and labour substitution in the agricultural sector should not be drastically changed, rather its welfare and efficiency be improved.

Keywords: import restriction, gross domestic rice production, cointegration, VECM, Granger causality, impulse response function

Procedia PDF Downloads 208

Authors: Tamanna Jethava, Rahul Joshi

Abstract:

Frequent Item sets play an essential role in many data Mining tasks that try to find interesting patterns from the database. Typically it refers to a set of items that frequently appear together in transaction dataset. There are several mining algorithm being used for frequent item set mining, yet most do not scale to the type of data we presented with today, so called “BIG DATA”. Big Data is a collection of large data sets. Our approach is to work on the frequent item set mining over the large dataset with scalable and speedy way. Big Data basically works with Map Reduce along with HDFS is used to find out frequent item sets from Big Data on large cluster. This paper focuses on using pre-processing & mining algorithm as hybrid approach for big data over Hadoop platform.

Keywords: frequent item set mining, big data, Hadoop, MapReduce

Procedia PDF Downloads 439

Authors: Yazhi Huang, Jing Yang, Dingge Ying, Yan Zhang, Vorasuk Shotelersuk, Nattiya Hirankarn, Pak Chung Sham, Yu Lung Lau, Wanling Yang

Abstract:

Human leukocyte antigen (HLA) typing from next generation sequencing (NGS) data has the potential for applications in clinical laboratories and population genetic studies. Here we introduce a novel technique for HLA typing from NGS data based on read-mapping using a comprehensive reference panel containing all known HLA alleles and de novo assembly of the gene-specific short reads. An accurate HLA typing at high-digit resolution was achieved when it was tested on publicly available NGS data, outperforming other newly-developed tools such as HLAminer and PHLAT.

Keywords: human leukocyte antigens, next generation sequencing, whole exome sequencing, HLA typing

Procedia PDF Downloads 668

Authors: Mas Aji Rizki Widjayanto, Rizka Yunita

Abstract:

The building which has an efficient and low-energy today followed by the developers. It’s not because trends on the building nowaday, but rather because of its positive effects in the long term, where the cost of energy per month to be much cheaper, along with the high price of electricity. The use of solar power (Photovoltaic System) becomes one source of electrical energy for the apartment so that will efficiently use energy, water, and other resources in the operations of the apartment. However, more than 80% of the solar radiation is not converted into electrical energy, but reflected and converted into heat energy. This causes an increase on the working temperature of solar panels and consequently decrease the efficiency of conversion to electrical energy. The high temperature solar panels work caused by solar radiation can be used as medium heat exchanger or heating water for the apartments, so that the working temperature of the solar panel can be lowered to reduce the reduction on the efficiency of conversion to electrical energy.

Keywords: photovoltaic system, efficient, heat energy, heat exchanger, efficiency of conversion

Procedia PDF Downloads 352

Authors: Aïcha Ben Salem, Faouzi Boufares, Sebastiao Correia

Abstract:

The subject covered in this paper aims at assisting the user in its quality approach. The goal is to better extract, mix, interpret and reuse data. It deals with the semantic schema recognition of a data source. This enables the extraction of data semantics from all the available information, inculding the data and the metadata. Firstly, it consists of categorizing the data by assigning it to a category and possibly a sub-category, and secondly, of establishing relations between columns and possibly discovering the semantics of the manipulated data source. These links detected between columns offer a better understanding of the source and the alternatives for correcting data. This approach allows automatic detection of a large number of syntactic and semantic anomalies.

Keywords: schema recognition, semantic data profiling, meta-categorisation, semantic dependencies inter columns

Procedia PDF Downloads 418

Authors: Elif Kalkanli, Constantinos Soutis

Abstract:

The use of textile preform in the advanced fields including aerospace, automotive and marine has exponentially grown in recent years. These preforms offer excellent advantages such as being lightweight and low-cost, and also, their suitability for creating different fiber architectures with different materials whilst improved mechanical properties in certain aspects. In this study, a novel honeycomb core is developed by a 3Dweaving process. The assembly of the layers is achieved thanks to innovative weaving design. Polyester yarn is selected for the 3D woven honeycomb core (3DWHC). The core is used to manufacture a sandwich panel with 2x2 twill glass fiber composite face sheets. These 3DWHC sandwich panels will be tested in three-point bending. The in-plane and out-of-plane (through-the-thickness) mechanical response of the core will be examined as a function of cell size in addition to the flexural response of the sandwich panel. The failure mechanisms of the core and the sandwich skins will be reported in addition to flexural strength and stiffness. Possible engineering applications will be identified.

Keywords: 3D woven, assembly, failure modes, honeycomb sandwich panel

Procedia PDF Downloads 206

Authors: Stefanie M. Vanneste, Stijn Goeminne

Abstract:

This paper studies the effect of political characteristics of 308 Flemish municipalities on their budget balance in the period 1995-2011. All local governments experience the same economic and financial setting, however some governments have high budget balances, while others have low budget balances. The aim of this paper is to explain the differences in municipal budget balances by a number of economic, socio-demographic and political variables. The economic and socio-demographic variables will be used as control variables, while the focus of this paper will be on the political variables. We test four hypotheses resulting from the literature, namely (i) the partisan hypothesis tests if left wing governments have lower budget balances, (ii) the fragmentation hypothesis stating that more fragmented governments have lower budget balances, (iii) the hypothesis regarding the power of the government, higher powered governments would resolve in higher budget balances, and (iv) the opportunistic budget cycle to test whether politicians manipulate the economic situation before elections in order to maximize their reelection possibilities and therefore have lower budget balances before elections. The contributions of our paper to the existing literature are multiple. First, we use the whole array of political variables and not just a selection of them. Second, we are dealing with a homogeneous database with the same budget and election rules, making it easier to focus on the political factors without having to control for the impact of differences in the political systems. Third, our research extends the existing literature on Flemish municipalities as this is the first dynamic research on local budget balances. We use a dynamic panel data model. Because of the two lagged dependent variables as explanatory variables, we employ the system GMM (Generalized Method of Moments) estimator. This is the best possible estimator as we are dealing with political panel data that is rather persistent. Our empirical results show that the effect of the ideological position and the power of the coalition are of less importance to explain the budget balance. The political fragmentation of the government on the other hand has a negative and significant effect on the budget balance. The more parties in a coalition the worse the budget balance is ceteris paribus. Our results also provide evidence of an opportunistic budget cycle, the budget balances are lower in pre-election years relative to the other years to try and increase the incumbents reelection possibilities. An additional finding is that the incremental effect of the budget balance is very important and should not be ignored like is being done in a lot of empirical research. The coefficients of the lagged dependent variables are always positive and very significant. This proves that the budget balance is subject to incrementalism. It is not possible to change the entire policy from one year to another so the actions taken in recent past years still have an impact on the current budget balance. Only a relatively small amount of research concerning the budget balance takes this considerable incremental effect into account. Our findings survive several robustness checks.

Keywords: budget balance, fragmentation, ideology, incrementalism, municipalities, opportunistic budget cycle, panel data, political characteristics, power, system GMM

Procedia PDF Downloads 299

Authors: Gaurav Gupta, Jitendra Mahakud

Abstract:

This study focuses on the significance of internal financing constraints on the determination of corporate fixed investments in the case of Indian manufacturing companies. Financing constraints companies which have less internal fund or retained earnings face more transaction and borrowing costs due to imperfections in the capital market. The period of study is 1999-2000 to 2013-2014 and we consider 618 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test, and Hausman test results conclude the suitability of the fixed effect model for the estimation. The cash flow and liquidity of the company have been used as the proxies for the internal financial constraints. In accordance with various theories of corporate investments, we consider other firm specific variable like firm age, firm size, profitability, sales and leverage as the control variables in the model. From the econometric analysis, we find internal cash flow and liquidity have the significant and positive impact on the corporate investments. The variables like cost of capital, sales growth and growth opportunities are found to be significantly determining the corporate investments in India, which is consistent with the neoclassical, accelerator and Tobin’s q theory of corporate investment. To check the robustness of results, we divided the sample on the basis of cash flow and liquidity. Firms having cash flow greater than zero are put under one group, and firms with cash flow less than zero are put under another group. Also, the firms are divided on the basis of liquidity following the same approach. We find that the results are robust to both types of companies having positive and negative cash flow and liquidity. The results for other variables are also in the same line as we find for the whole sample. These findings confirm that internal financing constraints play a significant role for determination of corporate investment in India. The findings of this study have the implications for the corporate managers to focus on the projects having higher expected cash inflows to avoid the financing constraints. Apart from that, they should also maintain adequate liquidity to minimize the external financing costs.

Keywords: cash flow, corporate investment, financing constraints, panel data method

Procedia PDF Downloads 243

Authors: Daniel C. Bonzo

Abstract:

Practical considerations lead to the use of unit of analysis within subjects, e.g., bleeding episodes or treatment-related adverse events, in rare disease settings. This is coupled with data augmentation techniques such as extrapolation to enlarge the subject base. In general, one can think about extrapolation of data as extending information and conclusions from one estimand to another estimand. This approach induces hierarchichal clustered data with varying cluster sizes. Extrapolation of clinical trial data is being accepted increasingly by regulatory agencies as a means of generating data in diverse situations during drug development process. Under certain circumstances, data can be extrapolated to a different population, a different but related indication, and different but similar product. We consider here the problem of estimation (point and interval) using a mixed-models approach under an extrapolation. It is proposed that estimators (point and interval) be constructed using weighting schemes for the clusters, e.g., equally weighted and with weights proportional to cluster size. Simulated data generated under varying scenarios are then used to evaluate the performance of this approach. In conclusion, the evaluation result showed that the approach is a useful means for improving statistical inference in rare disease settings and thus aids not only signal detection but risk-benefit evaluation as well.

Keywords: clustered data, estimand, extrapolation, mixed model

Procedia PDF Downloads 137

Authors: Daniel Y. Abebe, Jaehyouk Choi

Abstract:

There are several types of metal-based devices conceived as dampers for the seismic energy absorber whereby damages to the major structural components could be minimized for both new and existing structures. This paper aimed to develop and evaluate structural performance of slit circular shear panel damper for passive seismic energy protection by inelastic deformation. Structural evaluation was done using commercially available nonlinear FE simulation program. The main parameters considered are: diameter-to-thickness (D/t) ratio and slit length-to-width ratio (l/w). Depending on these parameters three different buckling modes and hysteretic behaviors were found: yielding prior to buckling without strength degradation, yielding prior to buckling with strength degradation, and yielding with buckling and strength degradation which forms pinching at initial displacement. The susceptible location at which the possible crack is initiated is also identified for selected specimens using rupture index.

Keywords: slit circular shear panel damper, hysteresis characteristics, slip length-to-width ratio, D/t ratio, FE analysis

Procedia PDF Downloads 401

Authors: K. Bokreta, D. Benanaya

Abstract:

The objective of this study is to examine the relative effectiveness of monetary and fiscal policy in Algeria using the econometric modelling techniques of cointegration and vector error correction modelling to analyse and draw policy inferences. The chosen variables of fiscal policy are government expenditure and net taxes on products, while the effect of monetary policy is presented by the inflation rate and the official exchange rate. From the results, we find that in the long-run, the impact of government expenditures is positive, while the effect of taxes is negative on growth. Additionally, we find that the inflation rate is found to have little effect on GDP per capita but the impact of the exchange rate is insignificant. We conclude that fiscal policy is more powerful then monetary policy in promoting economic growth in Algeria.

Keywords: economic growth, monetary policy, fiscal policy, VECM

Procedia PDF Downloads 311