Search results for: uncertainty analysis

Authors: Sabri Arik

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In this paper, we study the global asymptotic robust stability of delayed neural networks with norm-bounded uncertainties. By employing the Lyapunov stability theory and Homeomorphic mapping theorem, we derive some new types of sufficient conditions ensuring the existence, uniqueness and global asymptotic stability of the equilibrium point for the class of neural networks with discrete time delays under parameter uncertainties and with respect to continuous and slopebounded activation functions. An important aspect of our results is their low computational complexity as the reported results can be verified by checking some properties symmetric matrices associated with the uncertainty sets of network parameters. The obtained results are shown to be generalization of some of the previously published corresponding results. Some comparative numerical examples are also constructed to compare our results with some closely related existing literature results.

Keywords: neural networks, delayed systems, lyapunov functionals, stability analysis

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Authors: Calorine Twebaze, Jesca Balinga

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Field X is located on the Eastern shores of L. Albert, Uganda, on the rift flank where the gross sedimentary fill is typically less than 2,000m. The field was discovered in 2006 and encountered about 20.4m of net pay across three (3) stratigraphic intervals within the discovery well. The field covers an area of 3 km2, with the structural configuration comprising a 3-way dip-closed hanging wall anticline that seals against the basement to the southeast along the bounding fault. Field X had been mapped on reprocessed 3D seismic data, which was originally acquired in 2007 and reprocessed in 2013. The seismic data quality is good across the field, and reprocessing work reduced the uncertainty in the location of the bounding fault and enhanced the lateral continuity of reservoir reflectors. The current study was a re-evaluation of Field X to refine fault interpretation and understand the structural uncertainties associated with the field. The seismic data, and three (3) wells datasets were used during the study. The evaluation followed standard workflows using Petrel software and structural attribute analysis. The process spanned from seismic- -well tie, structural interpretation, and structural uncertainty analysis. Analysis of three (3) well ties generated for the 3 wells provided a geophysical interpretation that was consistent with geological picks. The generated time-depth curves showed a general increase in velocity with burial depth. However, separation in curve trends observed below 1100m was mainly attributed to minimal lateral variation in velocity between the wells. In addition to Attribute analysis, three velocity modeling approaches were evaluated, including the Time-Depth Curve, Vo+ kZ, and Average Velocity Method. The generated models were calibrated at well locations using well tops to obtain the best velocity model for Field X. The Time-depth method resulted in more reliable depth surfaces with good structural coherence between the TWT and depth maps with minimal error at well locations of 2 to 5m. Both the NNE-SSW rift border fault and minor faults in the existing interpretation were reevaluated. However, the new interpretation delineated an E-W trending fault in the northern part of the field that had not been interpreted before. The fault was interpreted at all stratigraphic levels and thus propagates from the basement to the surface and is an active fault today. It was also noted that the entire field is less faulted with more faults in the deeper part of the field. The major structural uncertainties defined included 1) The time horizons due to reduced data quality, especially in the deeper parts of the structure, an error equal to one-third of the reflection time thickness was assumed, 2) Check shot analysis showed varying velocities within the wells thus varying depth values for each well, and 3) Very few average velocity points due to limited wells produced a pessimistic average Velocity model.

Keywords: 3D seismic data interpretation, structural uncertainties, attribute analysis, velocity modelling approaches

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Authors: Shreya Banerjee, Prasanta K. Panigrahi

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The three-way distributive entanglement is shown to be related to the parallelism of vectors. Using a measurement-based approach a set of 2−dimensional vectors is formed, representing the post-measurement states of one of the parties. These vectors originate at the same point and have an angular distance between them. The area spanned by a pair of such vectors is a measure of the entanglement of formation. This leads to a geometrical manifestation of the 3−tangle in 2−dimensions, from inequality in the area which generalizes for n− qubits to reveal that the n− tangle also has a planar structure. Quantifying the genuine n−party entanglement in every 1|(n − 1) bi-partition it is shown that the genuine n−way entanglement does not manifest in n− tangle. A new quantity geometrically similar to 3−tangle is then introduced that represents the genuine n− way entanglement. Extending the formalism to 3− qutrits, the nonlocality without entanglement can be seen to arise from a condition under which the post-measurement state vectors of a separable state show parallelism. A connection to nontrivial sum uncertainty relation analogous to Maccone and Pati uncertainty relation is then presented using decomposition of post-measurement state vectors along parallel and perpendicular direction of the pre-measurement state vectors. This study opens a novel way to understand multiparty entanglement in qubit and qudit systems.

Keywords: Geometry of quantum entanglement, Multipartite and distributive entanglement, Parallelism of vectors , Tangle

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Authors: Roman Asatryan

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The decision-making processes in Corporate Social Responsibility (CSR) among firms in general and airlines in particular have to do with the benefits that accrue through those investments. The crux of the matter is not whether to invest in CSR or not, but rather, how firms can quantify the benefits derived from such investments. This paper analyzes the cost benefit adjustment strategies for firms in the airline industry in their CSR strategy adoption and implementation. The adjustment strategies identified will enable firms in the airline industry to have a basis for determining the worth of such CSR investments. This paper discusses the cost and benefit analysis model in order to understand the ways airlines can reduce costs and increase returns on CSR, or balance the cost and benefits. The analysis from this study points to the fact that economic concepts especially the CBA are useful, though they are not without challenges. The challenge arises when it is problematic to express the real impact of the externality in monetary terms. The use of rational maximization of the gains may seem to be a rather optimistic goal mainly because of environmental variability, perceptual uncertainty, and imperfect knowledge about the potential externality. This paper concludes that the CBA model gives a basic understanding of the motivations for investing in intangible assets like CSR. Consequently, it sets the tone for formulating relevant hypothesis in empirical studies in investment in CSR in particular and other intangible assets in business operations.

Keywords: cost-benefit analysis, corporate social responsibility, airline industry

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Authors: William Wong, Zakaria Alomari, Hon Ching Lai, Zhida Li

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Modern-day information security depends on implementing Diffie-Hellman, which requires the generation of prime numbers. Because the number of primes is infinite, it is impractical to store prime numbers for use, and therefore, primality tests are indispensable in modern-day information security. A primality test is a test to determine whether a number is prime or composite. There are two types of primality tests, which are deterministic tests and probabilistic tests. Deterministic tests are adopting algorithms that provide a definite answer whether a given number is prime or composite. While in probabilistic tests, a probabilistic result would be provided, there is a degree of uncertainty. In this paper, we review three probabilistic tests: the Fermat Primality Test, the Miller-Rabin Test, and the Baillie-PSW Test, as well as one deterministic test, the Agrawal-Kayal-Saxena (AKS) Test. Furthermore, we do an analysis of these tests. All of the reviews discussed are not based on the Elliptic Curve. The analysis demonstrates that, in the majority of real-world scenarios, the Baillie- PSW test’s favorability stems from its typical operational complexity of O(log 3n) and its capacity to deliver accurate results for numbers below 2^64.

Keywords: primality tests, Fermat’s primality test, Miller-Rabin primality test, Baillie-PSW primality test, AKS primality test

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Authors: Xu Wang

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This research builds linear regressions of U.S. macroeconomic condition and volatility measures in the investment grade and high yield Credit Default Swap index spreads using monthly data from March 2009 to July 2016, to study the relationship between different dimensions of macroeconomy and overall credit risk quality. The most significant contribution of this research is systematically examining individual and joint effects of macroeconomic condition and volatility on CDX spreads by including macroeconomic time series that captures different dimensions of the U.S. economy. The industrial production index growth, non-farm payroll growth, consumer price index growth, 3-month treasury rate and consumer sentiment are introduced to capture the condition of real economic activity, employment, inflation, monetary policy and risk aversion respectively. The conditional variance of the macroeconomic series is constructed using ARMA-GARCH model and is used to measure macroeconomic volatility. The linear regression model is conducted to capture relationships between monthly average CDX spreads and macroeconomic variables. The Newey–West estimator is used to control for autocorrelation and heteroskedasticity in error terms. Furthermore, the sensitivity factor analysis and standardized coefficients analysis are conducted to compare the sensitivity of CDX spreads to different macroeconomic variables and to compare relative effects of macroeconomic condition versus macroeconomic uncertainty respectively. This research shows that macroeconomic condition can have a negative effect on CDX spread while macroeconomic volatility has a positive effect on determining CDX spread. Macroeconomic condition and volatility variables can jointly explain more than 70% of the whole variation of the CDX spread. In addition, sensitivity factor analysis shows that the CDX spread is the most sensitive to Consumer Sentiment index. Finally, the standardized coefficients analysis shows that both macroeconomic condition and volatility variables are important in determining CDX spread but macroeconomic condition category of variables have more relative importance in determining CDX spread than macroeconomic volatility category of variables. This research shows that the CDX spread can reflect the individual and joint effects of macroeconomic condition and volatility, which suggests that individual investors or government should carefully regard CDX spread as a measure of overall credit risk because the CDX spread is influenced by macroeconomy. In addition, the significance of macroeconomic condition and volatility variables, such as Non-farm Payroll growth rate and Industrial Production Index growth volatility suggests that the government, should pay more attention to the overall credit quality in the market when macroecnomy is low or volatile.

Keywords: autoregressive moving average model, credit spread puzzle, credit default swap spread, generalized autoregressive conditional heteroskedasticity model, macroeconomic conditions, macroeconomic uncertainty

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Authors: Mohamed Fredj, Abdallah Hafsaoui, Radouane Nakache

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The study of the stability of the mining works in rock masses fractured is the major concern of the operating engineer. For geotechnical works in mines and quarries, it there is not today's general methodology for analysis and the quantification of the risks relating to the dangers inherent in these concrete types (falling boulders, landslides, etc.). The reasons for this are uncertainty, which weighs on available data or lack of knowledge of the values of the parameters required for this analysis type. Stability calculations must be based on reliable knowledge of the distribution of discontinuities that dissect the Rocky massif and the resistance to shear of the intact rock and discontinuities. This study is aimed to study the stability of slope of mine (Kef Sennoun - Tebessa, Algeria). The problem is analyzed using a numerical model based on the finite elements (software Plaxis 3D).

Keywords: stability, discontinuities, finite elements, rock mass, open-pit mine

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Authors: V. S. S. Kumar, B. Vikram, G. C. S. Reddy

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Time and cost are the two critical objectives of construction project management and are not independent but intricately related. Trade-off between project duration and cost are extensively discussed during project scheduling because of practical relevance. Generally when the project duration is compressed, the project calls for an increase in labor and more productive equipments, which increases the cost. Thus, the construction time-cost optimization is defined as a process to identify suitable construction activities for speeding up to attain the best possible savings in both time and cost. As there is hidden tradeoff relationship between project time and cost, it might be difficult to predict whether the total cost would increase or decrease as a result of compressing the schedule. Different combinations of duration and cost for the activities associated with the project determine the best set in the time-cost optimization. Therefore, the contractors need to select the best combination of time and cost to perform each activity, all of which will ultimately determine the project duration and cost. In this paper, the fuzzy set theory is used to model the uncertainties in the project environment for time-cost trade off analysis.

Keywords: fuzzy sets, uncertainty, qualitative factors, decision making

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Authors: Chetra Mang, Ahmadali Tahmasebimoradi, Xavier Lorang

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Lattice structures are widely used in various applications, especially in aeronautic, aerospace, and medical applications because of their high performance properties. Thanks to advancement of the additive manufacturing technology, the lattice structures can be manufactured by different methods such as laser beam melting technology. However, the presence of geometric defects in the lattice structures is inevitable due to the manufacturing process. The geometric defects may have high impact on the mechanical strength of the structures. This work analyzes the correlation between the manufacturing parameters and the mechanical strengths of the lattice structures. To do that, two types of the lattice structures; body-centered cubic with z-struts (BCCZ) structures made of Inconel718, and body-centered cubic (BCC) structures made of Scalmalloy, are manufactured by laser melting beam machine using Taguchi design of experiment. Each structure is placed on the substrate with a specific position and orientation regarding the roller direction of deposed metal powder. The position and orientation are considered as the manufacturing parameters. The geometric defects of each beam in the lattice are characterized and used to build the geometric model in order to perform simulations. Then, the mechanical strengths are defined by the homogeneous response as Young's modulus and yield strength. The distribution of mechanical strengths is observed as a function of manufacturing parameters. The mechanical response of the BCCZ structure is stretch-dominated, i.e., the mechanical strengths are directly dependent on the strengths of the vertical beams. As the geometric defects of vertical beams are slightly changed based on their position/orientation on the manufacturing substrate, the mechanical strengths are less dispersed. The manufacturing parameters are less influenced on the mechanical strengths of the structure BCCZ. The mechanical response of the BCC structure is bending-dominated. The geometric defects of inclined beam are highly dispersed within a structure and also based on their position/orientation on the manufacturing substrate. For different position/orientation on the substrate, the mechanical responses are highly dispersed as well. This shows that the mechanical strengths are directly impacted by manufacturing parameters. In addition, this work is carried out to study the uncertainty propagation of the geometric defects on the mechanical strength of the BCC lattice structure made of Scalmalloy. To do that, we observe the distribution of mechanical strengths of the lattice according to the distribution of the geometric defects. A probability density law is determined based on a statistical hypothesis corresponding to the geometric defects of the inclined beams. The samples of inclined beams are then randomly drawn from the density law to build the lattice structure samples. The lattice samples are then used for simulation to characterize the mechanical strengths. The results reveal that the distribution of mechanical strengths of the structures with the same manufacturing parameters is less dispersed than one of the structures with different manufacturing parameters. Nevertheless, the dispersion of mechanical strengths due to the structures with the same manufacturing parameters are unneglectable.

Keywords: geometric defects, lattice structure, mechanical strength, uncertainty propagation

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Authors: Magid Maatallah

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The problem is, investment management in modern conditions boils down to risk management which is very underdeveloped in Islamic financial theory and practice. Add to this the fact that, in Islamic perception, this is one of the areas of conventional finance in need of drastic reforms. This need was recently underlined by the story of Long Term Capital Management (LTCM ), ( told by Roger Lowenstein in his book, When Genius Failed, Random House, 2000 ). So we face a double challenge, to develop Islamic techniques of risk management and to see that these new techniques are free from the ills with which conventional methods are suffering. This is different from the challenge faced in the middle of twentieth century, to develop a method of financial intermediation free of interest.Risk was always there, especially in business. But industrialization brought risks unknown in trade and agriculture. Industrial production often involves long periods of time .The longer the period of production the more the uncertainty. The scope of the market has expanded to cover the whole world, introducing new kinds of risk. More than a thousand years ago, when Islamic laws were being written, the nature and scope of risk and uncertainty was different. However, something can still be learnt which, in combination with the modern experience, should enable us to realize the Shariah objectives of justice, fairness and efficiency.

Keywords: financial markets, Islamic framework, risk management, investment

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Authors: Ghussoun Al-Jeiroudi

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Stochastic programming is one of the powerful technique which is used to solve real-life problems. Hence, the data of real-life problems is subject to significant uncertainty. Uncertainty is well studied and modeled by stochastic programming. Each day, problems become bigger and bigger and the need for a tool, which does deal with large scale problems, increase. Interior point method is a perfect tool to solve such problems. Interior point method is widely employed to solve the programs, which arise from stochastic programming. It is an iterative technique, so it is required a starting point. Well design starting point plays an important role in improving the convergence speed. In this paper, we propose a starting point for interior point method for multistage stochastic programming. Usually, the optimal solution of stage k+1 is used as starting point for the stage k. This point has the advantage of being close to the solution of the current program. However, it has a disadvantage; it is not in the feasible region of the current program. So, we suggest to take this point and modifying it. That is by adding to it a vector in the null space of the matrix of the unchanged constraints because the solution will change only in the null space of this matrix.

Keywords: interior point methods, stochastic programming, null space, starting points

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Authors: Ridoy Das, Myriam Neaimeh, Yue Wang, Ghanim Putrus

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Electric vehicles are a popular transportation medium renowned for potential environmental benefits. However, large and uncontrolled charging volumes can impact distribution networks negatively. Smart charging is widely recognized as an efficient solution to achieve both improved renewable energy integration and grid relief. Nevertheless, different decision-makers may pursue diverse and conflicting objectives. In this context, this paper proposes a multi-objective optimization framework to control electric vehicle charging to achieve both energy cost reduction and peak shaving. A weighted-sum method is developed due to its intuitiveness and efficiency. Monte Carlo simulations are implemented to investigate the impact of uncertain electric vehicle driving patterns and provide decision-makers with a robust outcome in terms of prospective cost and network loading. The results demonstrate that there is a conflict between energy cost efficiency and peak shaving, with the decision-makers needing to make a collaborative decision.

Keywords: electric vehicles, multi-objective optimization, uncertainty, mixed integer linear programming

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Authors: Fatima Gouiferda

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Uncertainty and competitiveness are changing firm’s environment to become more complicated. The competition is moving to supply chain’s level, and firms need to collaborate and innovate to survive. In the current economy, common efforts between organizations and developing new capacities mutually are the key resources in gaining collaborative advantage and enhancing supply chain performance. The purpose of this paper is to explore different practices of collaboration activities that exist in the pharmaceutical industry of Morocco. Also, to inquire how these practices affect supply chain performance. The exploration is based on interpretativism research paradigm. Data were collected through semi-structured interviews from supply chain practitioners. Qualitative data was analyzed via Iramuteq software to explore different themes of the study.The findings include descriptive analysis as a result of data processing using Iramuteq. It also encompasses the content analysis of the themes extracted from interviews.

Keywords: inter-firm relationships, collaboration, supply chain innovation, morocco

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Authors: Harman Jaggi, David Steinsaltz, Shripad Tuljapurkar

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Understanding the effect of fluctuations on populations is crucial in the context of increasing habitat fragmentation, climate change, and biological invasions, among others. Migration in response to environmental disturbances enables populations to escape unfavorable conditions, benefit from new environments and thereby ride out fluctuations in variable environments. Would populations disperse if there is no uncertainty? Karlin showed in 1982 that when sub-populations experience distinct but fixed growth rates at different sites, greater mixing of populations will lower the overall growth rate relative to the most favorable site. Here we ask if and when environmental variability favors migration over no-migration. Specifically, in random environments, would a small amount of migration increase the overall long-run growth rate relative to the zero migration case? We use analysis and simulations to show how long-run growth rate changes with migration rate. Our results show that when fitness (dis)advantages fluctuate over time across sites, migration may allow populations to benefit from variability. When there is one best site with highest growth rate, the effect of migration on long-run growth rate depends on the difference in expected growth between sites, scaled by the variance of the difference. When variance is large, there is a substantial probability of an inferior site experiencing higher growth rate than its average. Thus, a high variance can compensate for a difference in average growth rates between sites. Positive correlations in growth rates across sites favor less migration. With multiple sites and large fluctuations, the length of shortest cycle (excursion) from the best site (on average) matters, and we explore the interplay between excursion length, average differences between sites and the size of fluctuations. Our findings have implications for conservation biology: even when there are superior sites in a sea of poor habitats, variability and habitat quality across space may be key to determining the importance of migration.

Keywords: migration, variable-environments, random, dispersal, fluctuations, habitat-quality

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Authors: Donatella R. Fiorino, Marzia Loddo

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The practice of freeing monuments from subsequent additions crosses the entire history of conservation and it is traditionally connected to the aim of valorisation, both for cultural and educational purpose and recently even for touristic exploitation. Defence heritage has been widely interested by these cultural and technical moods from philological restoration to critic innovations. A renovated critical analysis of Italian episodes and in particular the Sardinian case of the area of San Pancrazio in Cagliari, constitute an important lesson about the limits of this practice and the uncertainty in terms of results, towards the definition of a sustainable good practice in the restoration of military architectures.

Keywords: defensive architecture, liberation, Valorisation for tourism, historical restoration

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Authors: Mehran Naghizaderokni, Asscar Janalizadechobbasty

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There are more probabilistic and deterministic liquefaction evaluation procedures in order to judge whether liquefaction will occur or not. A review of this approach reveals that there is a need for a comprehensive procedure that accounts for different sources of uncertainty in liquefaction evaluation. In fact, for the same set of input parameters, different methods provide different factors of safety and/or probabilities of liquefaction. To account for the different uncertainties, including both the model and measurement uncertainties, reliability analysis is necessary. This paper has obtained information from Standard Penetration Test (SPT) and some empirical approaches such as: Seed et al, Highway bridge of Japan approach to soil liquefaction, The Overseas Coastal Area Development Institute of Japan (OCDI) and reliability method to studying potential of liquefaction in soil of Babol city in the north of Iran are compared. Evaluation potential of liquefaction in soil of Babol city is an important issue since the soil of some area contains sand, seismic area, increasing level of underground waters and consequently saturation of soil; therefore, one of the most important goals of this paper is to gain suitable recognition of liquefaction potential and find the most appropriate procedure of evaluation liquefaction potential to decrease related damages.

Keywords: reliability analysis, liquefaction, Babol, civil, construction and geological engineering

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Authors: Ella Sèdé Maforikan

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Sustained water management requires quantitative information and the knowledge of spatiotemporal dynamics of hydrological system within the basin. This can be achieved through the research. Several studies have investigated both surface water and groundwater in Beterou catchment. However, there are few published papers on the application of the SWAT modeling in Beterou catchment. The objective of this study was to evaluate the performance of SWAT to simulate the water balance within the watershed. The inputs data consist of digital elevation model, land use maps, soil map, climatic data and discharge records. The model was calibrated and validated using the Sequential Uncertainty Fitting (SUFI2) approach. The calibrated started from 1989 to 2006 with four years warming up period (1985-1988); and validation was from 2007 to 2020. The goodness of the model was assessed using five indices, i.e., Nash–Sutcliffe efficiency (NSE), the ratio of the root means square error to the standard deviation of measured data (RSR), percent bias (PBIAS), the coefficient of determination (R²), and Kling Gupta efficiency (KGE). Results showed that SWAT model successfully simulated river flow in Beterou catchment with NSE = 0.79, R2 = 0.80 and KGE= 0.83 for the calibration process against validation process that provides NSE = 0.78, R2 = 0.78 and KGE= 0.85 using site-based streamflow data. The relative error (PBIAS) ranges from -12.2% to 3.1%. The parameters runoff curve number (CN2), Moist Bulk Density (SOL_BD), Base Flow Alpha Factor (ALPHA_BF), and the available water capacity of the soil layer (SOL_AWC) were the most sensitive parameter. The study provides further research with uncertainty analysis and recommendations for model improvement and provision of an efficient means to improve rainfall and discharges measurement data.

Keywords: watershed, water balance, SWAT modeling, Beterou

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Authors: Niranjani Ruba Pandian

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In today’s multicultural global business community, most of the businesses and industries are linked with various countries in which different nationalities have different roles and responsibilities throughout the project. The purpose of this research is to examine the cross-cultural challenges between Indian and French and the ways to minimize these challenges to manage effectively the cross-cultural aspect of human resources for the success of global business in an automotive industry. The conducted study utilized quantitative methodology to analyze the data on Indian and French employees' perceptions of 6 cultural dimensions such as power versus distance, individualism versus collectivism, masculinity versus femininity, uncertainty versus avoidance, pragmatic versus normative and indulgence versus restraint. Employees of 4 multinational companies filled in the questionnaire based on the 5-point Likert scale to present quantitative results. The data was analysed with the correlation and multiple regression statistical analyses. It was found that Indian and French have major gap in uncertainty versus avoidance followed by individualism versus collectivism. However, this article highlights the way to minimize these gaps by adopting certain sequenced methodologies.

Keywords: automotive industry, cross cultural challenges, globalization, global business

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Authors: Ernesto Pineda Leon, Dante Tolentino Lopez, Janis Zapata Lopez

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The current paper shows the application of the boundary element method for the analysis of plates under shear stress causing plasticity. In this case, the shear deformation of a plate is considered by means of the Reissner’s theory. The probability of failure of a Reissner’s plate due to a proposed index plastic behavior is calculated taken into account the uncertainty in mechanical and geometrical properties. The problem is developed in two dimensions. The classic plasticity’s theory is applied and a formulation for initial stresses that lead to the boundary integral equations due to plasticity is also used. For the plasticity calculation, the Von Misses criteria is used. To solve the non-linear equations an incremental method is employed. The results show a relatively small failure probability for the ranges of loads between 0.6 and 1.0. However, for values between 1.0 and 2.5, the probability of failure increases significantly. Consequently, for load bigger than 2.5 the plate failure is a safe event. The results are compared to those that were found in the literature and the agreement is good.

Keywords: boundary element method, failure, plasticity, probability

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Authors: I. Martinez-Conesa, E. Garcia-Meca, M. Barradas-Quiroz

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The objective of this study is to assess the impact on earnings management of latest two Hofstede cultural dimensions: long-term orientation and indulgence. Long-term orientation represents the alignment of a society towards the future and indulgence expresses the extent to which a society exhibits willingness, or restrain, to realise their impulses. Additionally, this paper tests if there are relevant differences by testing the moderating role of the legal tradition, Continental versus Anglo-Saxon. Our sample comprises 15 countries: Belgium, Canada, Germany, Spain, France, Great Britain, Hong Kong, India, Japan, Korea, Netherlands, Philippines, Portugal, Sweden, and Thailand, with a total of 12,936 observations from 2003 to 2013. Our results show that managers in countries with high levels of long-term orientation reduce their levels of discretionary accruals. The findings do not confirm the effect of indulgence on earnings management. In addition, our results confirm previous literature regarding the effect of individualism, noting that firms in countries with high levels of collectivism might be more inclined to use earnings discretion to protect the welfare of the collective group of firm stakeholders. Uncertainty avoidance results in downwards earnings management as well as high disclosure, suggesting that less manipulation takes place when transparency is higher. Indulgence is the cultural dimension that confronts wellbeing versus survival; dimension is formulated including happiness, the perception of live control and the importance of leisure. Indulgence shows a weak negative correlation with power distance indicating a slight tendency for more hierarchical societies to be less indulgent. Anglo-Saxon countries are a positive effect of individualism and a negative effect of masculinity, uncertainty avoidance, and disclosure. With respect to continental countries, we can see a significant and positive effect of individualism and a significant and negative effect of masculinity, long-term orientation, and indulgence. Therefore, we observe the negative effect on earnings management provoked by higher disclosure and uncertainty avoidance only happens in Anglo-Saxon countries. Meanwhile, the improvement in reporting quality motivated by higher long-term orientation and higher indulgence is dominant in Continental countries. Our results confirm that there is a moderating effect of the legal system in the association between culture and earnings management. This effect is especially relevant in the dimensions related to uncertainty avoidance, long term orientation, indulgence, and disclosure. The negative effect of long-term orientation on earnings management only happens in those countries set in continental legal systems because of the Anglo-Saxon legal systems is supported by the decisions of the courts and the traditions, so it already has long-term orientation. That does not occur in continental systems, depending mainly of contend of the law. Sensitivity analysis used with Jones modified CP model, Jones Standard model and Jones Standard CP model confirm the robustness of these results. This paper collaborates towards a better understanding on how earnings management, culture and legal systems relate to each other, and contribute to previous literature by examining the influence of the two latest Hofstede’s dimensions not previously studied in papers.

Keywords: Hofstede, long-term-orientation, earnings management, indulgence

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Authors: Phani Kiran, Prabodha Manas Yarlagadda

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This paper attempts to treat Shakespeare’s tragic hero, Hamlet as an existential hero who faces many dilemmas in the process of taking revenge for his father’s murder. Hamlet can be considered as a predecessor of existentialism, and Shakespeare, as a pioneer, focused on some serious existential issues in the play much before they were fully developed in 20th century. Hamlet's internal struggles reflect existential themes such as alienation, despair, and the quest for authenticity. Hamlet’s famous soliloquy, "To be, or not to be," is a quintessential expression of existential ponderings, contemplating the choice between life and death and the uncertainty of what lies beyond. Hamlet grapples with existential questions like the purpose and meaninglessness of life, the nature of morality, the inevitability of death, and the existence of an afterlife. He doubts the authenticity of appearance and the reliability of his own perceptions, highlighting the inherent ambiguity and uncertainty of existence. Overall, "Hamlet" aligns with existential philosophy by exploring the complexities of human existence, the search for meaning, and the individual's struggle to find their place in an inherently uncertain and perplexing world. The character of Hamlet and the play's exploration of existential themes continue to resonate with audiences and provoke contemplation on the nature of life and the human experience.

Keywords: to be or not to be, death, dilemmas, illusion and reality

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Authors: G.Venkatachalam, Gautham Shankar, Dasarath Raghav, Krishna Kuar, Santhosh Kiran, Bhargav Mahesh

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Uncertainty in the availability of fossil fuels in the future and global warming increased the need for more environment-friendly materials. In this work, an attempt is made to fabricate a hybrid polymer matrix composite. The blend is a mixture of General Purpose Resin and Cashew Nut Shell Liquid, a natural resin extracted from cashew plant. Palm fiber, which has high strength, is used as a reinforcement material. The fiber is treated with alkali (NaOH) solution to increase its strength and adhesiveness. Parametric study of flexure strength is carried out by varying alkali concentration, duration of alkali treatment and fiber volume. Taguchi L9 Orthogonal array is followed in the design of experiments procedure for simplification. With the help of ANOVA technique, regression equations are obtained which gives the level of influence of each parameter on the flexure strength of the composite.

Keywords: Adhesion, CNSL, Flexural Analysis, Hybrid Matrix Composite, Palm Fiber

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Authors: Ali Bhayani

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The article analyses determinants of the market entry modes used by corporate firms to expand internationally and explore whether higher education institutions uses the same determinants to decide on mode adopted to enter the market. Determinants like transaction costs, location advantage, idiosyncratic capabilities, isomorphic pressure to mimic, psychic distance, uncertainty, risks, the control over academic process, previous internationalisation experience and entry to homogenous markets are considered with regards to universities. A sample consisting of 40+ branch campuses from United Arab Emirates (UAE), host to highest number of branch campuses, is selected to study the determinants of the entry modes adopted. The aim of this article is not to prescribe or offer a solution for the best-available model of market entry that can be adopted by universities but rather to act as a trigger for a critical check up on universities planning to internationalize their offering. Determinants like idiosyncratic capabilities, isomorphic pressure and control over the academic process were found to be most prevalent. However, determinants like transaction cost efficiency, internationalisation experience, psychic distance, uncertainty and risks are not significant factors.

Keywords: higher education, UAE, internationalisation, market entry, international branch campuses

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Authors: S. Zhang, L. Zhang, X. Chen

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Due to the large uncertainty on the mechanical properties of FRP (fibre reinforced plastic), the reliability evaluation of FRP structures are currently receiving much attention in industry. However, possible statistical correlation between ply mechanical properties has been so far overlooked, and they are mostly assumed to be independent random variables. In this study, the statistical correlation between ply mechanical properties of uni-directional and plain weave composite is firstly analyzed by a combination of Monte-Carlo simulation and finite element modeling of the FRP unit cell. Large linear correlation coefficients between the in-plane mechanical properties are observed, and the correlation coefficients are heavily dependent on the uncertainty of the fibre volume ratio. It is also observed that the correlation coefficients related to Poisson’s ratio are negative while others are positive. To experimentally achieve the statistical correlation coefficients between in-plane mechanical properties of FRP, all concerned in-plane mechanical properties of the same specimen needs to be known. In-plane shear modulus of FRP is experimentally derived by the approach suggested in the ASTM standard D5379M. Tensile tests are conducted using the same specimens used for the shear test, and due to non-uniform tensile deformation a modification factor is derived by a finite element modeling. Digital image correlation is adopted to characterize the specimen non-uniform deformation. The preliminary experimental results show a good agreement with the numerical analysis on the statistical correlation. Then, failure probability of laminate plates is calculated in cases considering and not considering the statistical correlation, using the Monte-Carlo and Markov Chain Monte-Carlo methods, respectively. The results highlight the importance of accounting for the statistical correlation between ply mechanical properties to achieve accurate failure probability of laminate plates. Furthermore, it is found that for the multi-layer laminate plate, the statistical correlation between the ply elastic properties significantly affects the laminate reliability while the effect of statistical correlation between the ply strength is minimal.

Keywords: failure probability, FRP, reliability, statistical correlation

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Authors: Gultekin Gurcay

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It is known that the most crucial influence of the psychological, social and emotional factors that affect any human behavior is to corrupt the rational decision making mechanism of the individuals and cause them to display irrational behaviors. In this regard, the social context of human beings influences the rationality of our decisions, and people tend to display different behaviors when they were alone compared to when they were surrounded by others. At this point, the interaction and interdependence of the behavioral finance and economics with the area of social psychology comes, where intentions and the behaviors of the individuals are being analyzed in the actual or implied presence of others comes into prominence. Within the context of this study, the prevalent theories of behavioral finance, which are The Prospect Theory, The Utility Theory Given Uncertainty and the Five Axioms of Choice under Uncertainty, Veblen’s Hidden Utility Theory, and the concept of ‘Overreaction’ has been examined and demonstrated; and the meaning, existence and validity of these theories together with the social context has been assessed. Finally, in this study the behavior of the individuals in financial crisis situations where the majority of the society is being affected from the same negative conditions at the same time has been analyzed, by taking into account how individual behavior will change according to the presence of the others.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: David G. Maxinez, Andrés Ferreyra Ramírez, Liliana Castillo Sánchez, Nancy Adán Mendoza, Carlos Aviles Cruz

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This research describes the use of fuzzy logic in detection, assessment, analysis and evaluation of children with behavioral disorders. It shows how to acquire and analyze ambiguous, vague and full of uncertainty data coming from the input variables to get an accurate assessment result for each of the typologies presented by children with behavior problems. Behavior disorders analyzed in this paper are: hyperactivity (H), attention deficit with hyperactivity (DAH), conduct disorder (TD) and attention deficit (AD).

Keywords: alteration, behavior, centroid, detection, disorders, economic, fuzzy logic, hyperactivity, impulsivity, social

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Authors: Emna Benmohamed, Hela Ltifi, Mounir Ben Ayed

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Bayesian Network (BN) is one of the most efficient classification methods. It is widely used in several fields (i.e., medical diagnostics, risk analysis, bioinformatics research). The BN is defined as a probabilistic graphical model that represents a formalism for reasoning under uncertainty. This classification method has a high-performance rate in the extraction of new knowledge from data. The construction of this model consists of two phases for structure learning and parameter learning. For solving this problem, the K2 algorithm is one of the representative data-driven algorithms, which is based on score and search approach. In addition, the integration of the expert's knowledge in the structure learning process allows the obtainment of the highest accuracy. In this paper, we propose a hybrid approach combining the improvement of the K2 algorithm called K2 algorithm for Parents and Children search (K2PC) and the expert-driven method for learning the structure of BN. The evaluation of the experimental results, using the well-known benchmarks, proves that our K2PC algorithm has better performance in terms of correct structure detection. The real application of our model shows its efficiency in the analysis of the phosphate laundry effluents' impact on the watershed in the Gafsa area (southwestern Tunisia).

Keywords: Bayesian network, classification, expert knowledge, structure learning, surface water analysis

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Authors: A. Falenski, A. Kaesbohrer, M. Filter

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Introduction: Risk assessments can be performed in various ways and in different degrees of complexity. In order to assess risks associated with imported foods additional information needs to be taken into account compared to a risk assessment on regional products. The present review is an overview on currently available best practise approaches and data sources used for food import risk assessments (IRAs). Methods: A literature review has been performed. PubMed was searched for articles about food IRAs published in the years 2004 to 2014 (English and German texts only, search string “(English [la] OR German [la]) (2004:2014 [dp]) import [ti] risk”). Titles and abstracts were screened for import risks in the context of IRAs. The finally selected publications were analysed according to a predefined questionnaire extracting the following information: risk assessment guidelines followed, modelling methods used, data and software applied, existence of an analysis of uncertainty and variability. IRAs cited in these publications were also included in the analysis. Results: The PubMed search resulted in 49 publications, 17 of which contained information about import risks and risk assessments. Within these 19 cross references were identified to be of interest for the present study. These included original articles, reviews and guidelines. At least one of the guidelines of the World Organisation for Animal Health (OIE) and the Codex Alimentarius Commission were referenced in any of the IRAs, either for import of animals or for imports concerning foods, respectively. Interestingly, also a combination of both was used to assess the risk associated with the import of live animals serving as the source of food. Methods ranged from full quantitative IRAs using probabilistic models and dose-response models to qualitative IRA in which decision trees or severity tables were set up using parameter estimations based on expert opinions. Calculations were done using @Risk, R or Excel. Most heterogeneous was the type of data used, ranging from general information on imported goods (food, live animals) to pathogen prevalence in the country of origin. These data were either publicly available in databases or lists (e.g., OIE WAHID and Handystatus II, FAOSTAT, Eurostat, TRACES), accessible on a national level (e.g., herd information) or only open to a small group of people (flight passenger import data at national airport customs office). In the IRAs, an uncertainty analysis has been mentioned in some cases, but calculations have been performed only in a few cases. Conclusion: The current state-of-the-art in the assessment of risks of imported foods is characterized by a great heterogeneity in relation to general methodology and data used. Often information is gathered on a case-by-case basis and reformatted by hand in order to perform the IRA. This analysis therefore illustrates the need for a flexible, modular framework supporting the connection of existing data sources with data analysis and modelling tools. Such an infrastructure could pave the way to IRA workflows applicable ad-hoc, e.g. in case of a crisis situation.

Keywords: import risk assessment, review, tools, food import

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Authors: Citra Pertiwi, Muhammad Fikruzzaman Rahawarin

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Government of Indonesia had committed to increasing its national defense the budget up to 1,5 percent of GDP. However, the budget increase does not necessarily allocate efficiently and effectively. Using Data Envelopment Analysis (DEA), the operational units of Indonesian Armed Forces are considered as a proxy to measure those two aspects. The bootstrap technique is being used as well to reduce uncertainty in the estimation. Additionally, technological change is being measured as a nonstationary component. Nearly half of the units are being estimated as fully efficient, with less than a third is considered as effective. Longer and larger sets of data might increase the robustness of the estimation in the future.

Keywords: bootstrap, effectiveness, efficiency, DEA, military, Malmquist, technological change

Procedia PDF Downloads 281

Authors: Maria Amelia V. C. Araujo, Billy J. Araujo, Brian Greenwood

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The flow over a backward-facing step is characterized by the presence of flow separation, recirculation and reattachment, for a simple geometry. This type of fluid behaviour takes place in many practical engineering applications, hence the reason for being investigated. Historically, fluid flows over a backward-facing step have been examined in many experiments using a variety of measuring techniques such as laser Doppler velocimetry (LDV), hot-wire anemometry, particle image velocimetry or hot-film sensors. However, some of these techniques cannot conveniently be used in separated flows or are too complicated and expensive. In this work, the applicability of the acoustic Doppler velocimetry (ADV) technique is investigated to such type of flows, at various Reynolds numbers corresponding to different flow regimes. The use of this measuring technique in separated flows is very difficult to find in literature. Besides, most of the situations where the Reynolds number effect is evaluated in separated flows are in numerical modelling. The ADV technique has the advantage in providing nearly non-invasive measurements, which is important in resolving turbulence. The ADV Nortek Vectrino+ was used to characterize the flow, in a recirculating laboratory flume, at various Reynolds Numbers (Reh = 3738, 5452, 7908 and 17388) based on the step height (h), in order to capture different flow regimes, and the results compared to those obtained using other measuring techniques. To compare results with other researchers, the step height, expansion ratio and the positions upstream and downstream the step were reproduced. The post-processing of the AVD records was performed using a customized numerical code, which implements several filtering techniques. Subsequently, the Vectrino noise level was evaluated by computing the power spectral density for the stream-wise horizontal velocity component. The normalized mean stream-wise velocity profiles, skin-friction coefficients and reattachment lengths were obtained for each Reh. Turbulent kinetic energy, Reynolds shear stresses and normal Reynolds stresses were determined for Reh = 7908. An uncertainty analysis was carried out, for the measured variables, using the moving block bootstrap technique. Low noise levels were obtained after implementing the post-processing techniques, showing their effectiveness. Besides, the errors obtained in the uncertainty analysis were relatively low, in general. For Reh = 7908, the normalized mean stream-wise velocity and turbulence profiles were compared directly with those acquired by other researchers using the LDV technique and a good agreement was found. The ADV technique proved to be able to characterize the flow properly over a backward-facing step, although additional caution should be taken for measurements very close to the bottom. The ADV measurements showed reliable results regarding: a) the stream-wise velocity profiles; b) the turbulent shear stress; c) the reattachment length; d) the identification of the transition from transitional to turbulent flows. Despite being a relatively inexpensive technique, acoustic Doppler velocimetry can be used with confidence in separated flows and thus very useful for numerical model validation. However, it is very important to perform adequate post-processing of the acquired data, to obtain low noise levels, thus decreasing the uncertainty.

Keywords: ADV, experimental data, multiple Reynolds number, post-processing

Procedia PDF Downloads 111