Search results for: financial bubble detection

Authors: Saima Akbar

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The global financial crisis severely and adversely impacted the Pakistanis’ financial setups with far-reaching consequences for its victims. This study aimed to analyze the various determinants of the banks’ financial performance in Pakistan. The stepwise multiple regression analysis and pre-post analysis were carried out in this regard by using SPSS ver 22. The study found that the assets quality is the most influential determinant of return over assets followed by bank size and solvency. Advances, liquidity, investments, and size have positive while poor assets quality and deposits have a negative impact on the return over assets. The comparison of the pre-crisis and post-crisis coefficient values of the independent variables revealed that the global financial crisis had exerted a significant impact on the relative ability of the financial performance determinants to explain variations in return over assets.

Keywords: pre-crisis, post-crisis, coefficient values, determinants

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Authors: Nomakhosi Tshuma, Carley Chetty

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This study employed panel regression analysis to investigate the financial performance determinants of MTN and Vodacom’s rest of Africa businesses between 2012 to 2020. It used net profit margin, return on assets (ROA), and return on equity (ROE) as financial performance proxies. Financial performance determinants investigated were asset size, debt ratio, liquidity, number of subscribers, and exchange rate. Data relating to exchange rates were obtained from the World Bank website, while financial data and subscriber information were obtained from the companies’ audited financial statements. The study found statistically significant negative relationships between debt and both ROA and net profit, exchange rate and both ROA and net profit, and subscribers and ROE. It also found significant positive relationships between ROE and both asset size and exchange rate. The study recommends strategic options that optimise on the above findings, and these include infrastructure sharing to reduce infrastructure costs and the minimisation of foreign-denominated debt.

Keywords: financial performance, determinants of financial performance, business in Africa, telecommunications industry

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Authors: Rym Ghariani, Younes Boujelbene

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This study aimed to examine the impact of digitalization and supply chain integration on the financial performance of companies in the agro-industrial sector in Tunisia, highlighting the growing importance of digital technologies in modern economies. The results were analyzed using a questionnaire and using principal component analysis, as well as linear regression modeling with SPSS26. The results demonstrate that the digitalization and integration of the supply chain have a significant impact on the financial results of Tunisian agro-industrial companies. In theory, this study provides a better understanding of the effects of digital advancements and supply chain strategies on financial results in this specific area. This study, therefore, studies the relationship between these variables and financial efficiency, highlighting the significant impacts of these technological and strategic elements on the financial results of agro-industrial companies in Tunisia.

Keywords: digitalization, supply chain integration, financial performance, Tunisian agro-industrial sector

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Authors: Narvada Ramdhany, Reena Bhattu Babajee

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The 2007-2008 Global Financial Crisis which initiated in the US had a global outreach, impacting the financial and banking sectors of several economies; such as European countries, developing and emerging countries in Asia, Latin America and Africa. European countries represent one of the main sources of export earnings for Mauritius and given that Europe has been quite profoundly affected by the crisis, the Mauritian economy also could have been negatively affected. This study is being undertaken to see if the crisis had a spill-over effect on the Mauritian banking system. It will also enable to determine if the measures put in place to counteract the crisis by regulatory authorities have been effective. The study will be carried out on 17 banks and data will be collected over a time frame of seven years; with a pre-crisis period from 2005 to 2007 and a post-crisis period from 2009 to 2011. The impact of the crisis as such will be measured through the financial performance of the banks, using financial ratios and regression analysis. The results show that during the period concerned Mauritian banks have remained solvent and relatively stable. One of the main explanations put forward to explain the resilience of the banking sector to the crisis is that foreign exposure was relatively low. Another explanation put forward is that Mauritian banks normally transact mainly with prime borrowers unlike most the banks which were affected by the financial crisis.  

Keywords: global financial crisis, banking sector, financial performance, Mauritian banks

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Authors: Saikiran Subbagari, Avinash Malladhi

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Anti Money Laundering (AML) regulations are designed to prevent money laundering and terrorist financing activities worldwide. Financial institutions around the world are legally obligated to identify, assess and mitigate the risks associated with money laundering and report any suspicious transactions to governing authorities. With increasing volumes of data to analyze, financial institutions seek to automate their AML processes. In the rise of financial crimes, optical character recognition (OCR), in combination with machine learning (ML) algorithms, serves as a crucial tool for automating AML processes by extracting the data from documents and identifying suspicious transactions. In this paper, we examine the utilization of OCR for AML and delve into various OCR techniques employed in AML processes. These techniques encompass template-based, feature-based, neural network-based, natural language processing (NLP), hidden markov models (HMMs), conditional random fields (CRFs), binarizations, pattern matching and stroke width transform (SWT). We evaluate each technique, discussing their strengths and constraints. Also, we emphasize on how OCR can improve the accuracy of customer identity verification by comparing the extracted text with the office of foreign assets control (OFAC) watchlist. We will also discuss how OCR helps to overcome language barriers in AML compliance. We also address the implementation challenges that OCR-based AML systems may face and offer recommendations for financial institutions based on the data from previous research studies, which illustrate the effectiveness of OCR-based AML.

Keywords: anti-money laundering, compliance, financial crimes, fraud detection, machine learning, optical character recognition

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Authors: Kenneth Fon Mbah, Arash Habibi Lashkari, Ali A. Ghorbani

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Phishing e-mails are a security issue that not only annoys online users, but has also resulted in significant financial losses for businesses. Phishing advertisements and pornographic e-mails are difficult to detect as attackers have been becoming increasingly intelligent and professional. Attackers track users and adjust their attacks based on users’ attractions and hot topics that can be extracted from community news and journals. This research focuses on deceptive Phishing attacks and their variants such as attacks through advertisements and pornographic e-mails. We propose a framework called Phishing Alerting System (PHAS) to accurately classify e-mails as Phishing, advertisements or as pornographic. PHAS has the ability to detect and alert users for all types of deceptive e-mails to help users in decision making. A well-known email dataset has been used for these experiments and based on previously extracted features, 93.11% detection accuracy is obtainable by using J48 and KNN machine learning techniques. Our proposed framework achieved approximately the same accuracy as the benchmark while using this dataset.

Keywords: phishing e-mail, phishing detection, anti phishing, alarm system, machine learning

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Authors: Yuzhi Cai

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In this paper, we introduce a newly developed quantile function model that can be used for estimating conditional distributions of financial returns and for obtaining multi-step ahead out-of-sample predictive distributions of financial returns. Since we forecast the whole conditional distributions, any predictive quantity of interest about the future financial returns can be obtained simply as a by-product of the method. We also show an application of the model to the daily closing prices of Dow Jones Industrial Average (DJIA) series over the period from 2 January 2004 - 8 October 2010. We obtained the predictive distributions up to 15 days ahead for the DJIA returns, which were further compared with the actually observed returns and those predicted from an AR-GARCH model. The results show that the new model can capture the main features of financial returns and provide a better fitted model together with improved mean forecasts compared with conventional methods. We hope this talk will help audience to see that this new model has the potential to be very useful in practice.

Keywords: DJIA, financial returns, predictive distribution, quantile function model

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Authors: Kwadwo Yeboah

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Background and Aims: The adoption of International Accounting Standards (IAS) is considered to be one of the most significant developments in the accounting profession. The adoption of IAS aims to improve financial reporting quality by ensuring that financial information is transparent and comparable across borders. However, there is a lack of research on the impact of IAS on financial reporting quality in emerging economies. This study aims to fill this gap by evaluating the impact of IAS on financial reporting quality in emerging economies. Methods: This study uses a sample of firms from emerging economies that have adopted IAS. The sample includes firms from different sectors and industries. The financial reporting quality of these firms is measured using financial ratios, such as earnings quality, financial leverage, and liquidity. The data is analyzed using a regression model that controls for firm-specific factors, such as size and profitability. Results: The results show that the adoption of IAS has a positive impact on financial reporting quality in emerging economies. Specifically, firms that adopt IAS exhibit higher earnings quality and lower financial leverage compared to firms that do not adopt IAS. Additionally, the adoption of IAS has a positive impact on liquidity, suggesting that firms that adopt IAS have better access to financing. Conclusions: The findings of this study suggest that the adoption of IAS has a positive impact on financial reporting quality in emerging economies. The results indicate that IAS adoption can improve transparency and comparability of financial information, which can enhance the ability of investors to make informed investment decisions. The study contributes to the literature by providing evidence of the impact of IAS adoption in emerging economies. The findings of this study have implications for policymakers and regulators in emerging economies, as they can use this evidence to support the adoption of IAS and improve financial reporting quality in their respective countries.

Keywords: accounting, international, standards, finance

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Authors: Tesnim Charrad, Kaouther Nouira, Ahmed Ferchichi

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In order to reduce the number of deaths due to heart problems, we propose the use of Hierarchical Temporal Memory Algorithm (HTM) which is a real time anomaly detection algorithm. HTM is a cortical learning algorithm based on neocortex used for anomaly detection. In other words, it is based on a conceptual theory of how the human brain can work. It is powerful in predicting unusual patterns, anomaly detection and classification. In this paper, HTM have been implemented and tested on ECG datasets in order to detect cardiac anomalies. Experiments showed good performance in terms of specificity, sensitivity and execution time.

Keywords: cardiac anomalies, ECG, HTM, real time anomaly detection

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Authors: Yousef Farhaoui

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An IDS is a tool which is used to improve the level of security.In this paper we present different architectures of IDS. We will also discuss measures that define the effectiveness of IDS and the very recent works of standardization and homogenization of IDS. At the end, we propose a new model of IDS called BiIDS (IDS Based on the two principles of detection).

Keywords: intrusion detection, architectures, characteristic, tools, security

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Authors: Wafa' Slaibi Alsharafat

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Cloud computing is a modern approach in network environment. According to increased number of network users and online systems, there is a need to help these systems to be away from unauthorized resource access and detect any attempts for privacy contravention. For that purpose, Intrusion Detection System is an effective security mechanism to detect any attempts of attacks for cloud resources and their information. In this paper, Cloud Intrusion Detection System has been proposed in term of reducing or eliminating any attacks. This model concerns about achieving high detection rate after conducting a set of experiments using benchmarks dataset called KDD'99.

Keywords: IDS, cloud computing, anticipating classifier system, intrusion detection

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Authors: Tatsuya Takino, Izuru Nomura, Yuji Kageyama, Shin Nagata, Hiroyuki Kamata

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We propose a method of detecting the craters from the image of the lunar surface. This proposal assumes that it is applied to SLIM (Smart Lander for Investigating Moon) working group aiming at the pinpoint landing on the lunar surface and investigating scientific research. It is difficult to equip and use high-performance computers for the small space probe. So, it is necessary to use a small computer with an exclusive hardware such as FPGA. We have studied the crater detection using principal component analysis (PCA), In this paper, We implement detection algorithm into the FPGA, and the detection is performed on the data that was captured from the CMOS camera.

Keywords: crater detection, PCA, FPGA, image processing

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Authors: Guezouli Larbi, Belkacem Soundes

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The automation of the text detection process can help the human in his driving task. Its application can be very useful to help drivers to have more information about their environment by facilitating the reading of road signs such as directional signs, events, stores, etc. In this paper, a system consisting of two stages has been proposed. In the first one, we used pseudo-Zernike moments to pinpoint areas of the image that may contain text. The architecture of this part is based on three main steps, region of interest (ROI) detection, text localization, and non-text region filtering. Then, in the second step, we present a convolutional neural network architecture (On-Road Text Detection Network - ORTDN) which is considered a classification phase. The results show that the proposed framework achieved ≈ 35 fps and an mAP of ≈ 90%, thus a low computational time with competitive accuracy.

Keywords: text detection, CNN, PZM, deep learning

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Authors: Hang Yang, Jichao Li, Kewei Yang, Tianyang Lei

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Multivariate time series anomaly detection is a significant research topic in the field of data mining, encompassing a wide range of applications across various industrial sectors such as traffic roads, financial logistics, and corporate production. The inherent spatial dependencies and temporal characteristics present in multivariate time series introduce challenges to the anomaly detection task. Previous studies have typically been based on the assumption that all variables belong to the same spatial hierarchy, neglecting the multi-level spatial relationships. To address this challenge, this paper proposes a multi-scale spatial and unified temporal feature fusion network, denoted as MSUT-Net, for multivariate time series anomaly detection. The proposed model employs a multi-level modeling approach, incorporating both temporal and spatial modules. The spatial module is designed to capture the spatial characteristics of multivariate time series data, utilizing an adaptive graph structure learning model to identify the multi-level spatial relationships between data variables and their attributes. The temporal module consists of a unified temporal processing module, which is tasked with capturing the temporal features of multivariate time series. This module is capable of simultaneously identifying temporal dependencies among different variables. Extensive testing on multiple publicly available datasets confirms that MSUT-Net achieves superior performance on the majority of datasets. Our method is able to model and accurately detect systems data with multi-level spatial relationships from a spatial-temporal perspective, providing a novel perspective for anomaly detection analysis.

Keywords: data mining, industrial system, multivariate time series, anomaly detection

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Authors: Hossein Emari, Hossein Vazifehdoust, Hashem Nikoo Maram

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This study aims to develop an original framework of Environmental Consciousness (EC) to explore the positive effect of environmental consciousness on financial performance through the partial mediator - green intellectual capital. A questionnaire survey on the environmental consciousness, intellectual capital, and financial performance of Iran’s manufacturing firms was conducted, and 324 samples were analyzed. This study utilizes structural equation modeling to explore the direct and indirect influences of EC on financial performance. Research results reveal that environmental consciousness had an indirect impact on financial performance through investment in green intellectual capital. It was thus known that green intellectual capital is a mediator of the relationship between environmental consciousness and financial performance. This paper may serve as a reference for firms mapping out future environmental policies and provide an input of various perspectives and arguments into the discipline of green management.

Keywords: environmental consciousness, social responsibility, green intellectual capital, financial performance

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Authors: Masoume Ehsani, Ning Zhu, Huu Doan, Ali Lohi, Amira Abdelrasoul

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Membrane fouling poses severe challenges in membrane-based wastewater treatment applications. Ultrasound (US) has been considered an effective fouling remediation technique in filtration processes. Bubble cavitation in the liquid medium results from the alternating rarefaction and compression cycles during the US irradiation at sufficiently high acoustic pressure. Cavitation microbubbles generated under US irradiation can cause eddy current and turbulent flow within the medium by either oscillating or discharging energy to the system through microbubble explosion. Turbulent flow regime and shear forces created close to the membrane surface cause disturbing the cake layer and dislodging the foulants, which in turn improve the cleaning efficiency and filtration performance. Therefore, the number, size, velocity, and oscillation pattern of the microbubbles created in the liquid medium play a crucial role in foulant detachment and permeate flux recovery. The goal of the current study is to gain in depth understanding of the influence of the US power intensity and frequency on the microbubble dynamics and its characteristics generated under US irradiation. In comparison with other imaging techniques, the synchrotron in-line Phase Contrast Imaging technique at the Canadian Light Source (CLS) allows in-situ observation and real-time visualization of microbubble dynamics. At CLS biomedical imaging and therapy (BMIT) polychromatic beamline, the effective parameters were optimized to enhance the contrast gas/liquid interface for the accuracy of the qualitative and quantitative analysis of bubble cavitation within the system. With the high flux of photons and the high-speed camera, a typical high projection speed was achieved; and each projection of microbubbles in water was captured in 0.5 ms. ImageJ software was used for post-processing the raw images for the detailed quantitative analyses of microbubbles. The imaging has been performed under the US power intensity levels of 50 W, 60 W, and 100 W, in addition to the US frequency levels of 20 kHz, 28 kHz, and 40 kHz. For the duration of 2 seconds of imaging, the effect of the US power and frequency on the average number, size, and fraction of the area occupied by bubbles were analyzed. Microbubbles’ dynamics in terms of their velocity in water was also investigated. For the US power increase of 50 W to 100 W, the average bubble number and the average bubble diameter were increased from 746 to 880 and from 36.7 µm to 48.4 µm, respectively. In terms of the influence of US frequency, a fewer number of bubbles were created at 20 kHz (average of 176 bubbles rather than 808 bubbles at 40 kHz), while the average bubble size was significantly larger than that of 40 kHz (almost seven times). The majority of bubbles were captured close to the membrane surface in the filtration unit. According to the study observations, membrane cleaning efficiency is expected to be improved at higher US power and lower US frequency due to the higher energy release to the system by increasing the number of bubbles or growing their size during oscillation (optimum condition is expected to be at 20 kHz and 100 W).

Keywords: bubble dynamics, cavitational bubbles, membrane fouling, ultrasonic cleaning

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Authors: Emine G. Cansu Ergun

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Conjugated system based sensors for selective detection of metal ions have been taking attention during last two decades. Fluorescent sensors are the promising candidates for ion detection due to their high selectivity towards metal ions, and rapid response times. Detection of mercury in an environmenet is important since mercury is a toxic element for human. Beyond the maximum allowable limit, mercury may cause serious problems in human health by spreading into the atmosphere, water and the food chain. In this study, a quinoxaline and 3,4-ethylenedioxy thiophene based donor-acceptor-donor type conjugated molecule used as a fluorescent sensor for detecting the mercury ion in aqueous medium. Among other various cations, existence of mercury resulted in a full quenching of the fluorescence signal. Then, a paper based sensor is constructed and used for mercury detection. As a result it is concluded that the offering sensor is a good candidate for selective mercury detection in aqueous media both in solution and paper based forms.

Keywords: Conjugated molecules , fluorescence quenching, metal ion detection , sensors

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Authors: Eshta Ranyal, Kamal Jain, Vikrant Ranyal

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Potholes are a severe threat to road safety and a major contributing factor towards road distress. In the Indian context, they are a major road hazard. Timely detection of potholes and subsequent repair can prevent the roads from deteriorating. To facilitate the roadway authorities in the timely detection and repair of potholes, we propose a pothole detection methodology using convolutional neural networks. The YOLOv3 model is used as it is fast and accurate in comparison to other state-of-the-art models. You only look once v3 (YOLOv3) is a state-of-the-art, real-time object detection system that features multi-scale detection. A mean average precision(mAP) of 73% was obtained on a training dataset of 200 images. The dataset was then increased to 500 images, resulting in an increase in mAP. We further calculated the depth of the potholes using stereoscopic vision by reconstruction of 3D potholes. This enables calculating pothole volume, its extent, which can then be used to evaluate the pothole severity as low, moderate, high.

Keywords: CNN, pothole detection, pothole severity, YOLO, stereovision

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Authors: Tao Feng, Wei-Wei Zhang, Chang-Ming Ding

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Cross-site scripting (XSS) is one of the most popular WEB Attacking methods at present, and also one of the most risky web attacks. Because of the population of JavaScript, the scene of the cross site scripting attack is also gradually expanded. However, since the web application developers tend to only focus on functional testing and lack the awareness of the XSS, which has made the on-line web projects exist many XSS vulnerabilities. In this paper, different various techniques of XSS attack are analyzed, and a method automatically to detect it is proposed. It is easy to check the results of vulnerability detection when running it as a plug-in.

Keywords: XSS, no target attack platform, automatic detection，XSS detection

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Authors: Umar Albalawi, Sang C. Suh, Jinoh Kim

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As internet continues to expand its usage with an enormous number of applications, cyber-threats have significantly increased accordingly. Thus, accurate detection of malicious traffic in a timely manner is a critical concern in today’s Internet for security. One approach for intrusion detection is to use Machine Learning (ML) techniques. Several methods based on ML algorithms have been introduced over the past years, but they are largely limited in terms of detection accuracy and/or time and space complexity to run. In this work, we present a novel method for intrusion detection that incorporates a set of supervised learning algorithms. The proposed technique provides high accuracy and outperforms existing techniques that simply utilizes a single learning method. In addition, our technique relies on partial flow information (rather than full information) for detection, and thus, it is light-weight and desirable for online operations with the property of early identification. With the mid-Atlantic CCDC intrusion dataset publicly available, we show that our proposed technique yields a high degree of detection rate over 99% with a very low false alarm rate (0.4%).

Keywords: intrusion detection, supervised learning, traffic classification, computer networks

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Authors: Luan Vardari, Dena Arapi-Vardari

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Financial stability is a critical component of economic growth and development, and it has been recognized as a key policy objective in many countries around the world. In the Western Balkans, financial stability has been a key issue in recent years, with a number of challenges facing the region, including high levels of public debt, weak banking systems, and economic volatility. Corporate finance, which refers to the financial management practices of firms, is an important factor that can impact financial stability. This paper aims to investigate corporate finance's impact on financial stability in Western Balkan countries. This study will use a mixed-methods approach to investigate the impact of corporate finance on financial stability in the Western Balkans. The study will begin with a comprehensive review of the existing literature on corporate finance and financial stability, focusing on the Western Balkan region. This will be followed by an empirical analysis of regional corporate finance practices using data from various industries and firms. The analysis will explore the relationship between corporate finance practices and financial stability, taking into account factors such as regulatory frameworks, economic conditions, and firm size. The results of the study are expected to provide insights into the impact of corporate finance on financial stability in the Western Balkans. Specifically, the study will identify the key corporate finance practices that contribute to financial stability in the region, as well as the challenges and obstacles that firms face in implementing effective corporate finance strategies. The study will also provide recommendations for policymakers and firms looking to enhance financial stability and resilience in the region.

Keywords: financial regulation, debt management, investment decisions, dividend policies, economic volatility, banking systems, public debt, prudent financial management, firm size, policy recommendations

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Authors: Muhammad Ammar, Talha Ali, Abdul Basit, Bakhtawar Rajput, Zobia Sohail

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Music note detection is an area of study for the past few years and has its own influence in music file generation from sheet music. We proposed a method to detect music notes on sheet music using basic thresholding and blob detection. Subsequently, we created a notes dictionary using a semi-supervised learning approach. After notes detection, for each test image, the new symbols are added to the dictionary. This makes the notes detection semi-automatic. The experiments are done on images from a dataset and also on the captured images. The developed approach showed almost 100% accuracy on the dataset images, whereas varying results have been seen on captured images.

Keywords: music note, sheet music, optical music recognition, blob detection, thresholding, dictionary generation

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Authors: Hwan-Jun Choi, Sung-Bok Choi, Hyoung-Kyu Song

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Recently, among the MIMO-OFDM detection techniques, a lot of papers suggested V-BLAST scheme which can achieve high data rate. Therefore, the signal detection of MIMOOFDM system is important issue. In this paper, efficient iterative VBLAST detection technique is proposed in wireless communication system. The proposed scheme adjusts the number of candidate symbol and iterative scheme based on channel state. According to the simulation result, the proposed scheme has better BER performance than conventional schemes and similar BER performance of the QRD-M with iterative scheme. Moreover complexity of proposed scheme has 50.6 % less than complexity of QRD-M detection with iterative scheme. Therefore the proposed detection scheme can be efficiently used in wireless communication.

Keywords: MIMO-OFDM, V-BLAST, QR-decomposition, QRDM, DFE, iterative scheme, channel condition

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Authors: Rania Mousa, Peterson Ozili

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A key agenda of policymakers in developed and developing countries is to increase the level of financial inclusion. Microlending institutions have been recognized as important agents of financial inclusion, which have the potential to achieve this objective and help move toward a more accessible, inclusive, and equitable path to financial sustainability. In that respect, this case study attempts to identify and assess the key initiatives undertaken by Grameen America as it responded to the COVID-19 pandemic within the framework of selected United Nations’ Sustainability Development Goals (UN’s SD Goals). This study goes beyond the stated objective by using the vulnerable group theory and special agent theory of financial inclusion to support the analysis of financial and non-financial information collected from Grameen America’s Annual Reports and audited financial statements. The study follows a qualitative content analysis method to precisely gauge the shift in Grameen’s strategy and focus, as well as to assess the impact of its initiatives on the small business community before and after the pandemic. The findings showcase that Grameen’s longstanding mission to alleviate poverty is in line with the UN’s Sustainability Development Goal 1. Furthermore, Grameen’s commitment to creating partnerships with external organizations to offer credit and non-credit services and support is consistent with UN’s Sustainability Development Goal 17. The study suggests that policymakers should foster the creation of more member-based financial and non-financial institutions which are ethically and morally responsible to their members in both good and bad times.

Keywords: COVID-19, financial inclusion, microfinance, sustainable development, microlending

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Authors: Majed Sanan, Mohammad Rammal, Wassim Rammal

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Today, security is a major concern. Intrusion Detection, Prevention Systems and Honeypot can be used to moderate attacks. Many researchers have proposed to use many IDSs ((Intrusion Detection System) time to time. Some of these IDS’s combine their features of two or more IDSs which are called Hybrid Intrusion Detection Systems. Most of the researchers combine the features of Signature based detection methodology and Anomaly based detection methodology. For a signature based IDS, if an attacker attacks slowly and in organized way, the attack may go undetected through the IDS, as signatures include factors based on duration of the events but the actions of attacker do not match. Sometimes, for an unknown attack there is no signature updated or an attacker attack in the mean time when the database is updating. Thus, signature-based IDS fail to detect unknown attacks. Anomaly based IDS suffer from many false-positive readings. So there is a need to hybridize those IDS which can overcome the shortcomings of each other. In this paper we propose a new approach to IDS (Intrusion Detection System) which is more efficient than the traditional IDS (Intrusion Detection System). The IDS is based on Honeypot Technology and Anomaly based Detection Methodology. We have designed Architecture for the IDS in a packet tracer and then implemented it in real time. We have discussed experimental results performed: both the Honeypot and Anomaly based IDS have some shortcomings but if we hybridized these two technologies, the newly proposed Hybrid Intrusion Detection System (HIDS) is capable enough to overcome these shortcomings with much enhanced performance. In this paper, we present a modified Hybrid Intrusion Detection System (HIDS) that combines the positive features of two different detection methodologies - Honeypot methodology and anomaly based intrusion detection methodology. In the experiment, we ran both the Intrusion Detection System individually first and then together and recorded the data from time to time. From the data we can conclude that the resulting IDS are much better in detecting intrusions from the existing IDSs.

Keywords: security, intrusion detection, intrusion prevention, honeypot, anomaly-based detection, signature-based detection, cloud computing, kfsensor

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Authors: Dinesh Sivaguru, Kamal Thilakasiri

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Preventing money laundering and terrorist financing is a major national and international problem today. Several attempts have been made to prevent money laundering by national and international dimension. These are often counteracted by the multi dynamic nature of the crimes. However, launders are often to use remittance systems to clean their ill-gotten money. This study presents the role of domestic financial institutions and the effective practices and actions should implement within domestic financial institutions to control and prevent financial crimes. This thesis highlights the progress that is required to prevent money laundering and terrorist financing, further it is an original contribution to the knowledge in an under researched field in Sri Lanka.

Keywords: money laundering, terrorists financing, financial institutions, regulatory bodies

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Authors: Piotr Prewysz-Kwinto, Grazyna Voss

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In June 2013, the European Parliament and the Council adopted a directive on financial reporting (Directive 2013/34/EU). The main objective was to simplify the principles of the preparation of financial statements, including the principles of the presentation and disclosures of financial information by adapting reporting burdens to the type and size of an undertaking. Therefore, the Directive introduced a classification of all undertakings into five groups, i.e. micro, small, medium-sized, large and public-interest entities, and defined in detail the classification criteria. The principles of the preparation of financial statements and the presentation of financial information as well as applicable simplifications were defined for each group. The EU Member States had to implement the provisions of Directive 34 relating to accounting and financial reporting into domestic norms until January 1, 2016. In Poland, the provisions of Directive 34 were implemented into domestic accounting norms specified in the Polish Accounting Act on a gradual basis. On July 11, 2014, the Polish Parliament adopted an amendment to the Act, introducing the Directive's solutions for micro-undertakings and on July 23, 2015, for the remaining undertakings. The aim of this paper is to present Polish solutions relating to financial reporting after the implementation of Directive 34 and the results of the survey conducted among accountants regarding the evaluation of the implemented simplifications for micro and small undertakings.

Keywords: accounting standards, financial reporting, financial statement, simplification

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Authors: Shumaila Zeb

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The proposed study aims to investigate insolvency risk of commercial banks of Pakistan. Furthermore, it empirically estimates the effect of already implemented financial regulations on the insolvency risk of banks. To carry out the empirical analysis, a balanced bank-level panel data covering the period 2008-2016 is used. The Z-score is used for calculating the insolvency risk of each bank. The panel regression is used to investigate the relationship between financial regulations and insolvency risk of banks. The empirics reveal that the financial regulations enforced by State Bank of Pakistan have significant impacts on the insolvency risk of banks. The results further indicate that loan ratio and reserve ratio are positively and significantly related to the insolvency risk of banks.

Keywords: insolvency risk, Z-score, financial regulations, banks

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Authors: Ying-Hsiu Chen, Pao-Peng Hsu

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This paper adopts a two-stage data envelopment analysis to explore the impacts of financial development and bank operational scale on bank efficiencies. The sample comprises of unbalanced panel data of 32 Taiwanese enlisted in domestic commercial banks over the period 1998 to 2013. Empirical results show that technical efficiency is positively related to financial development, whereas the effect of financial development on scale efficiency is insignificant. The effect of operational scale exerts a significantly positive effect on bank efficiencies, but the gain of efficiency is decreased gradually when operational scale increases. Furthermore, increase in capital adequacy ratio and market power of banks leads to a growth of bank efficiencies.

Keywords: financial development, operational scale, efficiency, DEA

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Authors: Jamila Garba Audu, Shehu Usman Hassan

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The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. Published accounting information in financial statements is required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The relationship between corporate governance and performance to financial reporting quality is imperative; this is because despite rapid researches in this area the findings obtained from these studies are constantly inconclusive. Data for the study were extracted from the firms’ annual reports and accounts. After running the OLS regression, a robustness test was conducted for the validity of statistical inferences; the data was empirically tested. A multiple regression was employed to test the model as a technique for data analysis. The results from the analysis revealed a negative association between all the regressors and financial reporting quality except the performance of listed manufacturing firms in Nigeria. This indicates that corporate governance plays a significant role in mitigating earnings management and improving financial reporting quality while performance does not. The study recommended among others that the composition of audit committee should be made in accordance with the provision for code of corporate governance which is not more than six (6) members with at least one (1) financial expert.

Keywords: corporate governance, financial reporting quality, manufacturing firms, Nigeria, performance

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