Search results for: fastest return path
2076 The Impact of Insider Trading on Open Market Share Repurchase: A Study in Indian Context
Authors: Sarthak Kumar Jena, Chandra Sekhar Mishra, Prabina Rajib
Abstract:
Purpose: This paper aims to derive undervaluation signal from the insiders trading of Indian companies where the ownership is complex and concentrated, investors protection is weak, and the insider rules and regulations are not stringent like developed country. This study examines the relationship between insider trading with short term and long term abnormal return. The study also examines the relationship between insider trading and the actual share repurchase by the firm. Methodology: A sample of 78 companies over the period 2008-2013 are analyzed in the study due to not availability of insider data in Indian context. For preliminary analysis T-test and Wilcoxon rank sum test is used to find the difference between the insider trading before and after the share repurchase announcement. Tobit model is used to find out whether insider trading influence shares repurchase decisions or not. Return on the basis of market model and buy hold are calculated in the previous year and the following year of share repurchase announcement. Findings: The paper finds that insider trading around share repurchase is more than control firms and there is positive and significant difference in insider buying between the previous year of share buyback announcement and the following year of buyback announcement. Insider buying before share repurchase announcement has a positive influence on share repurchase decisions. We find insider buying has a positive and significant relationship with announcement return, whereas insider selling has a negative significant relationship with announcement return. Actual share repurchase and program completion also depend on insider trading before share repurchase. Research limitation: The study is constrained by the small sample size, so the results should be viewed by keeping this limitation in mind. Originality: The paper is to our best knowledge the first study based on Indian context to extend the insider trading literature to share repurchase event and examine insider trading to find out undervaluation signal associated with insider buying.Keywords: insider trading, buyback, open market share repurchase, signalling
Procedia PDF Downloads 1912075 Obstacle Detection and Path Tracking Application for Disables
Authors: Aliya Ashraf, Mehreen Sirshar, Fatima Akhtar, Farwa Kazmi, Jawaria Wazir
Abstract:
Vision, the basis for performing navigational tasks, is absent or greatly reduced in visually impaired people due to which they face many hurdles. For increasing the navigational capabilities of visually impaired people a desktop application ODAPTA is presented in this paper. The application uses camera to capture video from surroundings, apply various image processing algorithms to get information about path and obstacles, tracks them and delivers that information to user through voice commands. Experimental results show that the application works effectively for straight paths in daylight.Keywords: visually impaired, ODAPTA, Region of Interest (ROI), driver fatigue, face detection, expression recognition, CCD camera, artificial intelligence
Procedia PDF Downloads 5442074 Q-Learning of Bee-Like Robots Through Obstacle Avoidance
Authors: Jawairia Rasheed
Abstract:
Modern robots are often used for search and rescue purpose. One of the key areas of interest in such cases is learning complex environments. One of the key methodologies for robots in such cases is reinforcement learning. In reinforcement learning robots learn to move the path to reach the goal while avoiding obstacles. Q-learning, one of the most advancement of reinforcement learning is used for making the robots to learn the path. Robots learn by interacting with the environment to reach the goal. In this paper simulation model of bee-like robots is implemented in NETLOGO. In the start the learning rate was less and it increased with the passage of time. The bees successfully learned to reach the goal while avoiding obstacles through Q-learning technique.Keywords: reinforlearning of bee like robots for reaching the goalcement learning for randomly placed obstacles, obstacle avoidance through q-learning, q-learning for obstacle avoidance,
Procedia PDF Downloads 902073 Determinants of Dividend Payout Ratio: Evidence form MENA Region
Authors: Abdul-Nasser El-Kassar, Walid Elgammal, Hisham Jawhar
Abstract:
This paper studies the determinants of the dividends payout ratio. The factors affecting the dividends payout ratio are to be identified. The study focuses only on the cement and construction industry within the MENA region in an attempt to isolate any incoherent behavior. The factors under consideration are: sales growth, ROE, ROA, ROS, debt to equity ratio, firm size, and free cash flow. Data were collected from official stock exchange markets in addition to annual reports. The study considered all firms that paid dividend in each of the three consecutive years starting from 2010 till 2012. Out of the 123 listed firms that work in cement and construction industry in MENA region, only 19 paid dividends in the three consecutive years 2010-12. Our sample consists of the 19 firms (57 observations) which are selected according to purposive sampling. Moreover, the study uses the homogeneous subcategory within the purposive sampling since only similar firms in the construction industry had been examined. The outcome of the study provides a vital insight into the determinants of dividends payout ratio of companies in MENA region. The results showed that the dividend payout ratio has a strong and positive relationship with return on assets and strong but negative relationship with return on equity. On the other hand, the results detected weak relationships between dividend payout ratio and sale growth, debt to equity ratio, firm size, and free cash flow. The study suggests that board of directors tend to compensate shareholders and minimize the agency cost by distributing a high portion of profits in form of dividends whenever return on equity decreases. Also, when the performance of the firm improves, and hence return on assets increases, boards of directors are more generous in distributing profits.Keywords: dividends payout ratio, profitability firm size, free cashflow, debt to equity ratio
Procedia PDF Downloads 3602072 Corporate Governance and Financial Performance: Evidence From Indonesian Islamic Banks
Authors: Ummu Salma Al Azizah, Herri Mulyono, Anisa Mauliata Suryana
Abstract:
The significance of corporate governance regarding to the agency problem have been transparent. This study examine the impact of corporate governance on the performance of Islamic banking in Indonesia. By using fixed effect model and added some control variable, the current study try to explore the correlation between the theoretical framework on corporate governance, such as agency theory and risk management theory. The bank performance (Return on Asset and Return on Equity) which are operational performance and financial performance. And Corporate governance based on Board size, CEO duality, Audit committee and Shariah supervisory board. The limitation of this study only focus on the Islamic banks performance from year 2015 to 2020. The study fill the gap in the literature by addressing the issue of corporate governance on Islamic banks performance in Indonesia.Keywords: corporate governance, financial performance, islamic banks, listed companies, Indonesia
Procedia PDF Downloads 1162071 US Airlines Performance and Its Connection with Service Quality
Authors: Nicole Kalemba, Fernando Campa-Planas, Ana-Beatriz Hernández-Lara, Maria Victória Sánchez-Rebull
Abstract:
The purpose of this paper is to determine the effects of service quality on US airlines’ economic performance. In order to cover this goal, it has been considered four different indexes of service quality in the air transportation industry, and also two indicators of economic performance, revenues and return on investment (ROI). Data from American airline companies over a period that covers from 2006 to 2013 have been used in order to determine if airlines’ profitability increases when service quality improves. Considering the effects on airlines’ profitability, the results confirm the positive and significant influence of service quality on the ROI of the companies in our study. Meanwhile, a non-significant effect was found for airline revenues related to quality. No previous research in this area has been done and these findings could encourage airline companies to invest in quality as far as this policy can have a return on their profitability.Keywords: airlines, economic performance, key performance indicators, quality
Procedia PDF Downloads 4682070 Influence of Chirp of High-Speed Laser Diodes and Fiber Dispersion on Performance of Non-Amplified 40-Gbps Optical Fiber Links
Authors: Ahmed Bakry, Moustafa Ahmed
Abstract:
We model and simulate the combined effect of fiber dispersion and frequency chirp of a directly modulated high-speed laser diode on the figures of merit of a non-amplified 40-Gbps optical fiber link. We consider both the return to zero (RZ) and non-return to zero (NRZ) patterns of the pseudorandom modulation bits. The performance of the fiber communication system is assessed by the fiber-length limitation due to the fiber dispersion. We study the influence of replacing standard single-mode fibers by non-zero dispersion-shifted fibers on the maximum fiber length and evaluate the associated power penalty. We introduce new dispersion tolerances for 1-dB power penalty of the RZ and NRZ 40-Gbps optical fiber links.Keywords: bit error rate, dispersion, frequency chirp, fiber communications, semiconductor laser
Procedia PDF Downloads 6352069 Aerodynamic Analysis of Vehicles in the Wind Tunnel and Water Tunnel
Authors: Elmo Thiago Lins Cöuras Ford, Valentina Alessandra Carvalho do Vale
Abstract:
The simulation in wind tunnel is used thoroughly to model real situations of drainages of air. Besides the automotive industry, a great number of applications can be numbered: dispersion of pollutant, studies of pedestrians comfort and dispersion of particles. This work had the objective of visualizing the characteristics aerodynamics of two automobiles in different ways. To accomplish that drainage of air a fan that generated a speed exists (measured with anemometer of hot thread) of 4,1m/s and 4,95m/s. To visualize the path of the air through the cars, in the wind tunnel, smoke was used, obtained with it burns of vegetable oil. For “to do smoke” vegetable oil was used, that was burned for a tension of 20 V generated by a thread of 2,5 mm. The cars were placed inside of the wind tunnel with the drainage of “air-smoke” and photographed, registering like this the path lines around them, in the 3 different speeds.Keywords: aerodynamics, vehicle drag, vegetable oil, wind tunnel
Procedia PDF Downloads 5942068 Integrated Gas Turbine Performance Diagnostics and Condition Monitoring Using Adaptive GPA
Authors: Yi-Guang Li, Suresh Sampath
Abstract:
Gas turbine performance degrades over time, and the degradation is greatly affected by environmental, ambient, and operating conditions. The engines may degrade slowly under favorable conditions and result in a waste of engine life if a scheduled maintenance scheme is followed. They may also degrade fast and fail before a scheduled overhaul if the conditions are unfavorable, resulting in serious secondary damage, loss of engine availability, and increased maintenance costs. To overcome these problems, gas turbine owners are gradually moving from scheduled maintenance to condition-based maintenance, where condition monitoring is one of the key supporting technologies. This paper presents an integrated adaptive GPA diagnostics and performance monitoring system developed at Cranfield University for gas turbine gas path condition monitoring. It has the capability to predict the performance degradation of major gas path components of gas turbine engines, such as compressors, combustors, and turbines, using gas path measurement data. It is also able to predict engine key performance parameters for condition monitoring, such as turbine entry temperature that cannot be directly measured. The developed technology has been implemented into digital twin computer Software, Pythia, to support the condition monitoring of gas turbine engines. The capabilities of the integrated GPA condition monitoring system are demonstrated in three test cases using a model gas turbine engine similar to the GE aero-derivative LM2500 engine widely used in power generation and marine propulsion. It shows that when the compressor of the model engine degrades, the Adaptive GPA is able to predict the degradation and the changing engine performance accurately using gas path measurements. Such a presented technology and software are generic, can be applied to different types of gas turbine engines, and provide crucial engine health and performance parameters to support condition monitoring and condition-based maintenance.Keywords: gas turbine, adaptive GPA, performance, diagnostics, condition monitoring
Procedia PDF Downloads 792067 Multi-Criteria Based Robust Markowitz Model under Box Uncertainty
Authors: Pulak Swain, A. K. Ojha
Abstract:
Portfolio optimization is based on dealing with the problems of efficient asset allocation. Risk and Expected return are two conflicting criteria in such problems, where the investor prefers the return to be high and the risk to be low. Using multi-objective approach we can solve those type of problems. However the information which we have for the input parameters are generally ambiguous and the input values can fluctuate around some nominal values. We can not ignore the uncertainty in input values, as they can affect the asset allocation drastically. So we use Robust Optimization approach to the problems where the input parameters comes under box uncertainty. In this paper, we solve the multi criteria robust problem with the help of E- constraint method.Keywords: portfolio optimization, multi-objective optimization, ϵ - constraint method, box uncertainty, robust optimization
Procedia PDF Downloads 1312066 The Determinants of Financial Stability: Evidence from Jordan
Authors: Wasfi Al Salamat, Shaker Al-Kharouf
Abstract:
This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks.Keywords: capital adequacy, financial stability, non-performing loans, number of returned checks, ASE
Procedia PDF Downloads 2122065 Asymmetric Linkages Between Global Sustainable Index (Green Bond) and Cryptocurrency Markets with Portfolio Implications
Authors: Faheem Ur Rehman, Muhammad Khalil Khan, Miao Qing
Abstract:
This study investigated the asymmetric links and portfolio strategies between green bonds and the markets of three different cryptocurrencies, i.e., green, Islamic, and conventional, using data from January 1, 2018, to April 8, 2022, and employing asymmetric TVP-VAR model to quantify risk spillovers in the network analysis. In addition, we use the minimum variance, minimum correlation, and minimum connectedness methodologies to assess the portfolio implications. The results of the asymmetric dynamic connectedness index (TCI) model show that by adopting cryptocurrencies for digital finance, risk spillovers are found to be reduced. The findings of net directional connectedness demonstrate that during the study period, green bonds consistently get return spillovers from all other network variables. Positive return spillovers are bigger in magnitude than negative ones. These results imply that the influence of the green bond market on the cryptocurrency markets is decreasing. Positive return spillovers generate higher connectedness values for (HG, BNB, and TRX) coins and persistent net recipients in the specific network. On the other hand, Cardano and ADA coins are persistent net transmitters in the system. XLM and MIOTA's responsibilities shift over time, and there is evidence of asymmetry when both positive and negative returns are considered. According to the pairwise portfolio weights, BNB vs. BTC has the largest portfolio weights in the system, followed by BNB vs. Ethereum, suggesting the best investment strategies in the network.Keywords: asymmetric TVP-VAR, global sustainable index, cryptocurrency, portfolios
Procedia PDF Downloads 712064 Investigation on the Acoustical Transmission Path of Additive Printed Metals
Authors: Raphael Rehmet, Armin Lohrengel, Prof Dr-Ing
Abstract:
In terms of making machines more silent and convenient, it is necessary to analyze the transmission path of mechanical vibrations and structure-bone noise. A typical solution for the elimination of structure-bone noise would be to simply add stiffeners or additional masses to change the transmission behavior and, thereby, avoid the propagation of vibrations. Another solution could be to use materials with a different damping behavior, such as elastomers, to isolate the machine dynamically. This research approach investigates the damping behavior of additive printed components made from structural steel or titanium, which have been manufactured in the “Laser Powder Bed Fusion“-process. By using the design flexibility which this process comes with, it will be investigated how a local impedance difference will affect the transmission behavior of the specimens.Keywords: 3D-printed, acoustics, dynamics, impedance
Procedia PDF Downloads 2012063 The Mathematics of Fractal Art: Using a Derived Cubic Method and the Julia Programming Language to Make Fractal Zoom Videos
Authors: Darsh N. Patel, Eric Olson
Abstract:
Fractals can be found everywhere, whether it be the shape of a leaf or a system of blood vessels. Fractals are used to help study and understand different physical and mathematical processes; however, their artistic nature is also beautiful to simply explore. This project explores fractals generated by a cubically convergent extension to Newton's method. With this iteration as a starting point, a complex plane spanning from -2 to 2 is created with a color wheel mapped onto it. Next, the polynomial whose roots the fractal will generate from is established. From the Fundamental Theorem of Algebra, it is known that any polynomial has as many roots (counted by multiplicity) as its degree. When generating the fractals, each root will receive its own color. The complex plane can then be colored to indicate the basins of attraction that converge to each root. From a computational point of view, this project’s code identifies which points converge to which roots and then obtains fractal images. A zoom path into the fractal was implemented to easily visualize the self-similar structure. This path was obtained by selecting keyframes at different magnifications through which a path is then interpolated. Using parallel processing, many images were generated and condensed into a video. This project illustrates how practical techniques used for scientific visualization can also have an artistic side.Keywords: fractals, cubic method, Julia programming language, basin of attraction
Procedia PDF Downloads 2492062 The On-Board Critical Message Transmission Design for Navigation Satellite Delay/Disruption Tolerant Network
Authors: Ji-yang Yu, Dan Huang, Guo-ping Feng, Xin Li, Lu-yuan Wang
Abstract:
The navigation satellite network, especially the Beidou MEO Constellation, can relay data effectively with wide coverage and is applied in navigation, detection, and position widely. But the constellation has not been completed, and the amount of satellites on-board is not enough to cover the earth, which makes the data-relay disrupted or delayed in the transition process. The data-relay function needs to tolerant the delay or disruption in some extension, which make the Beidou MEO Constellation a delay/disruption-tolerant network (DTN). The traditional DTN designs mainly employ the relay table as the basic of data path schedule computing. But in practical application, especially in critical condition, such as the war-time or the infliction heavy losses on the constellation, parts of the nodes may become invalid, then the traditional DTN design could be useless. Furthermore, when transmitting the critical message in the navigation system, the maximum priority strategy is used, but the nodes still inquiry the relay table to design the path, which makes the delay more than minutes. Under this circumstances, it needs a function which could compute the optimum data path on-board in real-time according to the constellation states. The on-board critical message transmission design for navigation satellite delay/disruption-tolerant network (DTN) is proposed, according to the characteristics of navigation satellite network. With the real-time computation of parameters in the network link, the least-delay transition path is deduced to retransmit the critical message in urgent conditions. First, the DTN model for constellation is established based on the time-varying matrix (TVM) instead of the time-varying graph (TVG); then, the least transition delay data path is deduced with the parameters of the current node; at last, the critical message transits to the next best node. For the on-board real-time computing, the time delay and misjudges of constellation states in ground stations are eliminated, and the residual information channel for each node can be used flexibly. Compare with the minute’s delay of traditional DTN; the proposed transmits the critical message in seconds, which improves the re-transition efficiency. The hardware is implemented in FPGA based on the proposed model, and the tests prove the validity.Keywords: critical message, DTN, navigation satellite, on-board, real-time
Procedia PDF Downloads 3382061 The Different Learning Path Analysis of Students with Different Learning Attitudes and Styles in Arts Creation
Authors: Tracy Ho, Huann-Shyang Lin, Mina Lin
Abstract:
This study investigated the different learning path of students with different learning attitude and learning styles in Arts Creation. Based on direct instruction, guided-discovery learning, and discovery learning theories, a tablet app including the following three learning areas were developed for students: (1) replication and remix practice area, (2) guided creation area, and (3) free creation area. Thirty. students with different learning attitude and learning styles were invited to use this app. Students’ learning behaviors were categorized and defined. The results will provide both educators and researchers with insights that can form a useful foundation for designing different content and strategy with the application of new technologies in school teaching. It also sheds light on how an educational App can be designed to enhance Arts Creation.Keywords: App, arts creation, learning attitude, learning style, tablet
Procedia PDF Downloads 2702060 Determining Factors Influencing the Total Funding in Islamic Banking of Indonesia
Authors: Euphrasia Susy Suhendra, Lies Handrijaningsih
Abstract:
The banking sector as an intermediary party or intermediaries occupies a very important position in bridging the needs of working capital investment in the real sector with funds owner. This will certainly make money more effectively to improve the economic value added. As an intermediary, Islamic banks raise funds from the public and then distribute in the form of financing. In practice, the distribution of funding that is run by Islamic Banking is not as easy as, in theory, because, in fact, there are many financing problems; some are caused by lacking the assessment and supervision of banks to customers. This study aims to analyze the influence of the Third Party Funds, Return on Assets (ROA), Non Performing Financing (NPF), and Financing Deposit Ratio (FDR) to Total Financing provided to the Community by Islamic Banks in Indonesia. The data used is monthly data released by Bank of Indonesia in Islamic Banking Statistics in the time period of January 2009 - December 2013. This study uses cointegration test to see the long-term relationship, and use error correction models to examine the relationship of short-term. The results of this study indicate that the Third Party Fund has a short-term effect on total funding, Return on Assets has a long term effect on the total financing, Non Performing Financing has long-term effects of total financing, and Financing deposit ratio has the effect of short-term and long-term of the total financing provided by Islamic Banks in Indonesia.Keywords: Islamic banking, third party fund, return on asset, non-performing financing, financing deposit ratio
Procedia PDF Downloads 4572059 Exploring the Growth Path under Coupling Relationship between Space and Economy of Mountain Village and Townlets: Case Study of Southwest China
Authors: Runlin Liu, Shilong Li
Abstract:
China is a mountainous country, with two-thirds of its territory covered by plateaus, hills, and mountains, and nearly half of the cities and towns are distributed in mountainous areas. Compared with the environmental constraints in the development path of cities and towns in the plains, there are heterogeneities in aspects such as spatial characteristics, growth mode, and ecological protection and so on for mountain village and townlets, and the development path of mountain village and townlets has a bidirectional relationship between mountain space and economic growth. Based on classical growth theory, this article explores the two-dimensional coupling relation between space and economy in mountain village and townlets under background of rural rejuvenation. GIS technology is adopted in the study to analyze spatial trends and patterns, economical spatial differentiation characteristics of village and townlets. This powerful tool can also help differentiate and analyze limiting factors and assessment systems in the economic growth of village and townlets under spatial dimension of mountainous space. To make the research more specific, this article selects mountain village and townlets in Southwest China as the object of study; this provides good cases for analyzing parallel coupling mechanism of the duality structure system between economic growth and spatial expansion and discussing the path selection of spatial economic growth of mountain village and towns with multiple constraints. The research results can provide quantitative references for the spatial and economic development paths of mountain villages and towns, which is helpful in realizing efficient and high-quality development mode with equal emphasis on spatial and economic benefits for these type of towns.Keywords: coupling mechanism, geographic information technology, mountainous town, synergetic development, spatial economy
Procedia PDF Downloads 1452058 The Presence of Investor Overconfidence in the South African Exchange Traded Fund Market
Authors: Damien Kunjal, Faeezah Peerbhai
Abstract:
Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity
Procedia PDF Downloads 1592057 An Assessment of Impact of Financial Statement Fraud on Profit Performance of Manufacturing Firms in Nigeria: A Study of Food and Beverage Firms in Nigeria
Authors: Wale Agbaje
Abstract:
The aim of this research study is to assess the impact of financial statement fraud on profitability of some selected Nigerian manufacturing firms covering (2002-2016). The specific objectives focused on to ascertain the effect of incorrect asset valuation on return on assets (ROA) and to ascertain the relationship between improper expense recognition and return on assets (ROA). To achieve these objectives, descriptive research design was used for the study while secondary data were collected from the financial reports of the selected firms and website of security and exchange commission. The analysis of covariance (ANCOVA) was used and STATA II econometric method was used in the analysis of the data. Altman model and operating expenses ratio was adopted in the analysis of the financial reports to create a dummy variable for the selected firms from 2002-2016 and validation of the parameters were ascertained using various statistical techniques such as t-test, co-efficient of determination (R2), F-statistics and Wald chi-square. Two hypotheses were formulated and tested using the t-statistics at 5% level of significance. The findings of the analysis revealed that there is a significant relationship between financial statement fraud and profitability in Nigerian manufacturing industry. It was revealed that incorrect assets valuation has a significant positive relationship and so also is the improper expense recognition on return on assets (ROA) which serves as a proxy for profitability. The implication of this is that distortion of asset valuation and expense recognition leads to decreasing profit in the long run in the manufacturing industry. The study therefore recommended that pragmatic policy options need to be taken in the manufacturing industry to effectively manage incorrect asset valuation and improper expense recognition in order to enhance manufacturing industry performance in the country and also stemming of financial statement fraud should be adequately inculcated into the internal control system of manufacturing firms for the effective running of the manufacturing industry in Nigeria.Keywords: Althman's Model, improper expense recognition, incorrect asset valuation, return on assets
Procedia PDF Downloads 1552056 Management of Femoral Neck Stress Fractures at a Specialist Centre and Predictive Factors to Return to Activity Time: An Audit
Authors: Charlotte K. Lee, Henrique R. N. Aguiar, Ralph Smith, James Baldock, Sam Botchey
Abstract:
Background: Femoral neck stress fractures (FNSF) are uncommon, making up 1 to 7.2% of stress fractures in healthy subjects. FNSFs are prevalent in young women, military recruits, endurance athletes, and individuals with energy deficiency syndrome or female athlete triad. Presentation is often non-specific and is often misdiagnosed following the initial examination. There is limited research addressing the return–to–activity time after FNSF. Previous studies have demonstrated prognostic time predictions based on various imaging techniques. Here, (1) OxSport clinic FNSF practice standards are retrospectively reviewed, (2) FNSF cohort demographics are examined, (3) Regression models were used to predict return–to–activity prognosis and consequently determine bone stress risk factors. Methods: Patients with a diagnosis of FNSF attending Oxsport clinic between 01/06/2020 and 01/01/2020 were selected from the Rheumatology Assessment Database Innovation in Oxford (RhADiOn) and OxSport Stress Fracture Database (n = 14). (1) Clinical practice was audited against five criteria based on local and National Institute for Health Care Excellence guidance, with a 100% standard. (2) Demographics of the FNSF cohort were examined with Student’s T-Test. (3) Lastly, linear regression and Random Forest regression models were used on this patient cohort to predict return–to–activity time. Consequently, an analysis of feature importance was conducted after fitting each model. Results: OxSport clinical practice met standard (100%) in 3/5 criteria. The criteria not met were patient waiting times and documentation of all bone stress risk factors. Importantly, analysis of patient demographics showed that of the population with complete bone stress risk factor assessments, 53% were positive for modifiable bone stress risk factors. Lastly, linear regression analysis was utilized to identify demographic factors that predicted return–to–activity time [R2 = 79.172%; average error 0.226]. This analysis identified four key variables that predicted return-to-activity time: vitamin D level, total hip DEXA T value, femoral neck DEXA T value, and history of an eating disorder/disordered eating. Furthermore, random forest regression models were employed for this task [R2 = 97.805%; average error 0.024]. Analysis of the importance of each feature again identified a set of 4 variables, 3 of which matched with the linear regression analysis (vitamin D level, total hip DEXA T value, and femoral neck DEXA T value) and the fourth: age. Conclusion: OxSport clinical practice could be improved by more comprehensively evaluating bone stress risk factors. The importance of this evaluation is demonstrated by the population found positive for these risk factors. Using this cohort, potential bone stress risk factors that significantly impacted return-to-activity prognosis were predicted using regression models.Keywords: eating disorder, bone stress risk factor, femoral neck stress fracture, vitamin D
Procedia PDF Downloads 1762055 Using Dynamic Bayesian Networks to Characterize and Predict Job Placement
Authors: Xupin Zhang, Maria Caterina Bramati, Enrest Fokoue
Abstract:
Understanding the career placement of graduates from the university is crucial for both the qualities of education and ultimate satisfaction of students. In this research, we adapt the capabilities of dynamic Bayesian networks to characterize and predict students’ job placement using data from various universities. We also provide elements of the estimation of the indicator (score) of the strength of the network. The research focuses on overall findings as well as specific student groups including international and STEM students and their insight on the career path and what changes need to be made. The derived Bayesian network has the potential to be used as a tool for simulating the career path for students and ultimately helps universities in both academic advising and career counseling.Keywords: dynamic bayesian networks, indicator estimation, job placement, social networks
Procedia PDF Downloads 3662054 Optimization Based Obstacle Avoidance
Authors: R. Dariani, S. Schmidt, R. Kasper
Abstract:
Based on a non-linear single track model which describes the dynamics of vehicle, an optimal path planning strategy is developed. Real time optimization is used to generate reference control values to allow leading the vehicle alongside a calculated lane which is optimal for different objectives such as energy consumption, run time, safety or comfort characteristics. Strict mathematic formulation of the autonomous driving allows taking decision on undefined situation such as lane change or obstacle avoidance. Based on position of the vehicle, lane situation and obstacle position, the optimization problem is reformulated in real-time to avoid the obstacle and any car crash.Keywords: autonomous driving, obstacle avoidance, optimal control, path planning
Procedia PDF Downloads 3652053 Perturbative Analysis on a Lunar Free Return Trajectory
Authors: Emre Ünal, Hasan Başaran
Abstract:
In this study, starting with a predetermined Lunar free-return trajectory, an analysis of major near-Earth perturbations is carried out. Referencing to historical Apollo-13 flight, changes in the mission’s resultant perimoon and perigee altitudes with each perturbative effect are evaluated. The perturbations that were considered are Earth oblateness effects, up to the 6th order, atmospheric drag, third body perturbations consisting of solar and planetary effects and solar radiation pressure effects. It is found that for a Moon mission, most of the main perturbative effects spoil the trajectory significantly while some came out to be negligible. It is seen that for apparent future request of constructing low cost, reliable and safe trajectories to the Moon, most of the orbital perturbations are crucial.Keywords: Apollo-13 trajectory, atmospheric drag, lunar trajectories, oblateness effect, perturbative effects, solar radiation pressure, third body perturbations
Procedia PDF Downloads 1382052 The Effects of Corporate Governance on Firm’s Financial Performance: A Study of Family and Non-family Owned Firms in Pakistan
Authors: Saad Bin Nasir
Abstract:
This research will examine the impact of corporate governance on firm performance in family and non-family owned firms in Pakistan. For the purpose of this research, corporate governance mechanisms which included are board size, board composition, leadership structure, board meetings are taken as independent variable and firm performance taken as dependent variable and it will be measured with return on asset and return on equity. Firm size and firm’s age will be taken as control variables. Secondary data will collect from audited annul reports of companies and panel data regression model will applied, to check the impact of corporate governance on firm performance.Keywords: board size, board composition, Leadership Structure, board meetings, firm performance, family and non-family owned firms
Procedia PDF Downloads 3702051 Convergence with IFRS: Evidence from Financial Statements
Authors: M. S. Turan, Dimple
Abstract:
Due to implementation of IFRS by several developed and developing countries, India has no option other than to converge their accounting standards with IFRS. There are over 10,000 listed companies required to implement IFRS in India. IFRS based financial information presented by a company is different from the same information provided by Indian GAAPs. In this study, we have brought out and analyzed the effect of IFRS reporting on the financial statements of selected companies. The results reveal that convergence with IFRS brought prominent positive variations in the values of quick ratio, debt/equity ratio, proprietary ratio and net profit ratio, while negative variation is brought in the values of current ratio, debt to total assets ratio, operating profit ratio, return on capital employed and return on shareholders’ equity ratios. It also presents significant changes in the values of items of balance sheet, profit and loss account and cash flow statement.Keywords: IFRS, reporting standards, convergence process, results
Procedia PDF Downloads 3242050 Discourse Analysis of the Perception of ‘Safety’ in EU and Refugee Law
Authors: Klaudia Krogulec
Abstract:
The concept and the meaning of safety is largely undermined in International and EU refugee law. While the Geneva Convention 1951 concentrates mainly on the principle of non-refoulment (no-return) and the idea of physical safety of refugees, countries continue to implement harmful readmission agreements that presume ‘safe countries’ for the hosting and return of the refugees. This research intends to use discourse analysis of the legal provisions and interviews with Syrian refugees, NGO workers, and refugee lawyers in Tukey to understand what ‘safety’ actually means and how law shapes the experiences of Syrians in Turkey (the country that hosts the largest population of Syrians and is a key partner of the EU-Turkey Agreement 2016). The preliminary findings reveal the competing meanings of safety (rights-based vs state interests approach). As the refugee policies continue to prioritize state interests/safety over human safety and human rights, it is extremely important to provide recommendations on how ‘safety’ should be defined in the refugee law in the future.Keywords: human rights law, refugee law, human safety, EU-turkey agreement
Procedia PDF Downloads 1462049 Role of Macro and Technical Indicators in Equity Risk Premium Prediction: A Principal Component Analysis Approach
Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan
Abstract:
Equity risk premium (ERP) is the stock return in excess of risk free return. Even though it is an essential topic of finance but still there is no common consensus upon its forecasting. For forecasting ERP, apart from the macroeconomic variables attention is devoted to technical indicators as well. For this purpose, set of 14 technical and 14 macro-economic variables is selected and all forecasts are generated based on a standard predictive regression framework, where ERP is regressed on a constant and a lag of a macroeconomic variable or technical indicator. The comparative results showed that technical indicators provide better indications about ERP estimates as compared to macro-economic variables. The relative strength of ERP predictability is also investigated by using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions and found that ERP predictability is more than twice for recessions as compared to expansions.Keywords: equity risk premium, forecasting, macroeconomic indicators, technical indicators
Procedia PDF Downloads 2992048 Preliminary Seismic Hazard Mapping of Papua New Guinea
Authors: Hadi Ghasemi, Mark Leonard, Spiliopoulos Spiro, Phil Cummins, Mathew Moihoi, Felix Taranu, Eric Buri, Chris Mckee
Abstract:
In this study the level of seismic hazard in terms of Peak Ground Acceleration (PGA) was calculated for return period of 475 years, using modeled seismic sources and assigned ground-motion equations. The calculations were performed for bedrock site conditions (Vs30=760 m/s). From the results it is evident that the seismic hazard reaches its maximum level (i.e. PGA≈1g for 475 yr return period) at the Huon Peninsula and southern New Britain regions. Disaggregation analysis revealed that moderate to large earthquakes occurring along the New Britain Trench mainly control the level of hazard at these locations. The open-source computer program OpenQuake developed by Global Earthquake Model foundation was used for the seismic hazard computations. It should be emphasized that the presented results are still preliminary and should not be interpreted as our final assessment of seismic hazard in PNG.Keywords: probabilistic seismic hazard assessment, Papua New Guinea, building code, OpenQuake
Procedia PDF Downloads 5452047 Quality of Service Based Routing Algorithm for Real Time Applications in MANETs Using Ant Colony and Fuzzy Logic
Authors: Farahnaz Karami
Abstract:
Routing is an important, challenging task in mobile ad hoc networks due to node mobility, lack of central control, unstable links, and limited resources. An ant colony has been found to be an attractive technique for routing in Mobile Ad Hoc Networks (MANETs). However, existing swarm intelligence based routing protocols find an optimal path by considering only one or two route selection metrics without considering correlations among such parameters making them unsuitable lonely for routing real time applications. Fuzzy logic combines multiple route selection parameters containing uncertain information or imprecise data in nature, but does not have multipath routing property naturally in order to provide load balancing. The objective of this paper is to design a routing algorithm using fuzzy logic and ant colony that can solve some of routing problems in mobile ad hoc networks, such as nodes energy consumption optimization to increase network lifetime, link failures rate reduction to increase packet delivery reliability and providing load balancing to optimize available bandwidth. In proposed algorithm, the path information will be given to fuzzy inference system by ants. Based on the available path information and considering the parameters required for quality of service (QoS), the fuzzy cost of each path is calculated and the optimal paths will be selected. NS2.35 simulation tools are used for simulation and the results are compared and evaluated with the newest QoS based algorithms in MANETs according to packet delivery ratio, end-to-end delay and routing overhead ratio criterions. The simulation results show significant improvement in the performance of these networks in terms of decreasing end-to-end delay, and routing overhead ratio, and also increasing packet delivery ratio.Keywords: mobile ad hoc networks, routing, quality of service, ant colony, fuzzy logic
Procedia PDF Downloads 54