Search results for: return flight

Authors: Noha Al Majid, Said Mazer, Moulhime El Bekkali, Catherine Algani, Mahmoud Mehdi

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A low noise figure (NF) and high linearity V-band Low Noise Amplifier (LNA) is reported in this article. The LNA compromises a three-stage cascode configuration. This LNA will be used as a part of a WPAN (Wireless Personal Area Network) receiver in the millimeter-wave band at 60 GHz. It is designed according to the MMIC technology (Monolithic Microwave Integrated Circuit) in PH 15 process from UMS foundry and uses a 0.15 μm GaAs PHEMT (Pseudomorphic High Electron Mobility Transistor). The particularity of this LNA compared to other LNAs in literature is its very low noise figure which is equal to 1 dB and its high linearity (IIP3 is about 22 dB). The LNA consumes 0.24 Watts, achieving a high gain which is about 23 dB, an input return loss better than -10 dB and an output return loss better than -8 dB.

Keywords: low noise amplifier, V-band, MMIC technology, LNA, amplifier, cascode, pseudomorphic high electron mobility transistor (PHEMT), high linearity

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Authors: Sarthak Kumar Jena, Chandra Sekhar Mishra, Prabina Rajib

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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

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Authors: Abdul-Nasser El-Kassar, Walid Elgammal, Hisham Jawhar

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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

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Authors: Sergio N. P. Laitón, Paulo G. P. Toro, João F. Martos

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A numerical study has been carried out to investigate the flow characteristics and performance of the 14-X B inlet with blunted cowl-lip. The Brazilian aerospace hypersonic vehicle 14-X B is a technology demonstrator of a hypersonic air-breathing propulsion system, based on supersonic combustion ramjet (scramjet). It is designed for Earth's atmospheric flight at Mach number of 6 and an altitude of 30 km. Currently, it is under development in the aerothermodynamics and hypersonic Professor Henry T. Nagamatsu laboratory at Advanced Studies Institute (IEAv). Numerical simulations were conducted at nominal freestream Mach number and altitude for two cowl-lip blunting radius and several angles of attack close to horizontal flight. The results show that the shock interference behavior on the blunted cowl-lip change with the angle of attack and blunted radius. The type VI or V together with III shock interferences are more likely to occur simultaneously at small negative angles of attack. When the inlet operates in positive angles of attack higher to 1, no shock interference occurs, only the bow shock conditions. The results indicate a high air pressure at beginning of the combustor and higher pressure recovery with 2 mm radius and positives angles of attack.

Keywords: blunted cowl-lip, hypersonic inlet, inlet unstart, shock interference

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Authors: Ummu Salma Al Azizah, Herri Mulyono, Anisa Mauliata Suryana

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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

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Authors: Nicole Kalemba, Fernando Campa-Planas, Ana-Beatriz Hernández-Lara, Maria Victória Sánchez-Rebull

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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

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Authors: Ahmed Bakry, Moustafa Ahmed

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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 638

Authors: Graziella Ziino, Filippo Giarratana, Stefania Maria Marotta, Alessandro Giuffrida, Antonio Panebianco

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In Europe, North America and Japan, campylobacteriosis is one of the leading food-borne bacterial illnesses, often related to the consumption of poultry meats and/or by-products. The aim of this study was the evaluation of Campylobacter contamination of poultry meats marketed in Sicily (Italy) using both traditional methods and Matrix-Assisted Laser Desorption Ionization-Time of Flight Mass Spectrometry (MALDI-TOF MS). MALDI-TOF MS is considered a promising rapid (less than 1 hour) identification method for food borne pathogens bacteria. One hundred chicken and turkey meat preparations (no. 68 hamburgers, no. 21 raw sausages, no. 4 meatballs and no. 7 meat rolls) were taken from different butcher’s shops and large scale retailers and submitted to detection/enumeration of Campylobacter spp. according to EN ISO 10272-1:2006 and EN ISO 10272-2:2006. Campylobacter spp. was detected with general low counts in 44 samples (44%), of which 30 from large scale retailers and 14 from butcher’s shops. Chicken meats were significantly more contaminated than turkey meats. Among the preparations, Campylobacter spp. was found in 85.71% of meat rolls, 50% of meatballs, 44.12% of hamburgers and 28.57% of raw sausages. A total of 100 strains, 2-3 from each positive samples, were isolated for the identification by phenotypic, biomolecular and MALDI-TOF MS methods. C. jejuni was the predominant strains (63%), followed by C. coli (33%) and C. lari (4%). MALDI-TOF MS correctly identified 98% of the strains at the species level, only 1% of the tested strains were not identified. In the last 1%, a mixture of two different species was mixed in the same sample and MALDI-TOF MS correctly identified at least one of the strains. Considering the importance of rapid identification of pathogens in the food matrix, this method is highly recommended for the identification of suspected colonies of Campylobacteria.

Keywords: campylobacter spp., Food Microbiology, matrix-assisted laser desorption ionization-time of flight mass spectrometry, rapid microbial identification

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Authors: Pulak Swain, A. K. Ojha

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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

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Authors: Wasfi Al Salamat, Shaker Al-Kharouf

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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

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Authors: Faheem Ur Rehman, Muhammad Khalil Khan, Miao Qing

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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

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Authors: Halison da Silva Pereira, Ciro Sobrinho Campolina Martins, Vitor Mainenti Leal Lopes

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Long range performance is a goal for aircraft configuration optimization. Blended Wing Body (BWB) is presented in many works of literature as the most aerodynamically efficient design for a fixed-wing aircraft. Because of its high weight to thrust ratio, BWB is the ideal configuration for many Unmanned Aerial Vehicle (UAV) missions on geomatics applications. In this work, a BWB aerodynamic design for typical light geomatics payload is presented. Aerodynamic non-dimensional coefficients are predicted using low Reynolds number computational techniques (3D Panel Method) and wing parameters like aspect ratio, taper ratio, wing twist and sweep are optimized for high cruise performance and flight quality. The methodology of this work is a summary of tailless aircraft wing design and its application, with appropriate computational schemes, to light UAV subjected to low Reynolds number flows leads to conclusions like the higher performance and flight quality of thicker airfoils in the airframe body and the benefits of using aerodynamic twist rather than just geometric.

Keywords: blended wing body, low Reynolds number, panel method, UAV

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Authors: Royia Soliman, Salma ElAnsary, Akram Amin Abdellatif, Florian Holzapfel

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Model-Based Safety Analysis (MBSA) is an approach in which the system and safety engineers share a common system model created using a model-based development process. The model can also be extended by the failure modes of the system components. There are two famous approaches for the addition of fault behaviors to system models. The first one is to enclose the failure into the system design directly. The second approach is to develop a fault model separately from the system model, thus combining both independent models for safety analysis. This paper introduces a hybrid approach of MBSA. The approach tries to use informal abstracted models to investigate failure behaviors. The approach will combine various concepts such as directed graph traversal, event lists and Constraint Satisfaction Problems (CSP). The approach is implemented using an Object Oriented programming language. The components are abstracted to its failure logic and relationships of connected components. The implemented approach is tested on various flight control systems, including electrical and multi-domain examples. The various tests are analyzed, and a comparison to different approaches is represented.

Keywords: flight control systems, model based safety analysis, safety assessment analysis, system modelling

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Authors: Ambuj Srivastava, Narender Singh

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This paper presents the effect of installation of cylindrical external store on the performance, stability, control and handling qualities of light transport category aircraft. A pair of long cylindrical store was installed symmetrically on either side of the fuselage (port and starboard) ahead of the wing and below the fuselage bottom surface running below pilot and co-pilot window. The cylindrical store was installed as hanging from aircraft surface through specially designed brackets. The adjoining structure was sufficiently reinforced for bearing aerodynamic loads. The length to diameter ratio of long cylindrical store was ~20. Based on academic studies and flow simulation analysis, a considerable detrimental effect on single engine second segment climb performance was found which was later validated through extensive flight testing exercise. The methodology of progressive flight envelope opening was adopted. The certification was sought from Regional airworthiness authorities and for according approval.

Keywords: second segment climb, maximum operating speed, cruise performance (single engine and twin engine), minimum control speed, and additional trim required

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Authors: Euphrasia Susy Suhendra, Lies Handrijaningsih

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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

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Authors: Damien Kunjal, Faeezah Peerbhai

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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

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Authors: Wale Agbaje

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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 158

Authors: Charlotte K. Lee, Henrique R. N. Aguiar, Ralph Smith, James Baldock, Sam Botchey

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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

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Authors: Assem M. F. Sallam, Ah. El-S. Makled

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This paper presents a study on the trajectory of a two stage launch vehicle. The study includes dynamic responses of motion parameters as well as the variation of angles affecting the orientation of the launch vehicle (LV). LV dynamic characteristics including state vector variation with corresponding altitude and velocity for the different LV stages separation, as well as the angle of attack and flight path angles are also discussed. A flight trajectory study for the drop zone of first stage and the jettisoning of fairing are introduced in the mathematical modeling to study their effect. To increase the accuracy of the LV model, atmospheric model is used taking into consideration geographical location and the values of solar flux related to the date and time of launch, accurate atmospheric model leads to enhancement of the calculation of Mach number, which affects the drag force over the LV. The mathematical model is implemented on MATLAB based software (Simulink). The real available experimental data are compared with results obtained from the theoretical computation model. The comparison shows good agreement, which proves the validity of the developed simulation model; the maximum error noticed was generally less than 10%, which is a result that can lead to future works and enhancement to decrease this level of error.

Keywords: launch vehicle modeling, launch vehicle trajectory, mathematical modeling, Matlab- Simulink

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Authors: S. M. Dash, K. B. Lua, T. T. Lim

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This paper presents results of numerical and experimental studies on a two-dimensional (2D) flapping elliptic airfoil in a forward flight condition at Reynolds number of 5000. The study is motivated from an earlier investigation which shows that the deterioration in thrust performance of a sinusoidal heaving and pitching 2D (NACA0012) airfoil at high flapping frequency can be recovered by changing the effective angle of attack profile to square wave, sawtooth, or cosine wave shape. To better understand why such modifications lead to superior thrust performance, we take a closer look at the transient aerodynamic force behavior of an airfoil when the effective angle of attack profile changes gradually from a generic smooth trapezoidal profile to a sinusoid shape by modifying the base length of the trapezoid. The choice of using a smooth trapezoidal profile is to avoid the infinite acceleration condition encountered in the square wave profile. Our results show that the enhancement in the time-averaged thrust performance at high flapping frequency can be attributed to the delay and reduction in the drag producing valley region in the transient thrust force coefficient when the effective angle of attack profile changes from sinusoidal to trapezoidal.

Keywords: two-dimensional flapping airfoil, thrust performance, effective angle of attack, CFD, experiments

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Authors: Saad Bin Nasir

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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

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Authors: Thiraporn Chumphuming, Nuttida Boonmathi, Supattra Thanomsiang, Tawatchai Noree, Suthee Boonchaloem, Rinyaphat Kecharananta

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This research aims to study about the formats of low-cost airlines’ services in domestic route by surveying customers’ requirements and satisfactions in choosing low-cost airlines to travel domestically. Chiang Mai International Airport and other regions in Chiang Mai are the bases where the information is quantitatively collected. Passengers and questionnaires of 400 are the data base in which the researchers collected information from. Statistic units used are Percentage, Weighted Average, and Standard Deviation. The result of the study reveals that the group of 400 representative samples chooses Air Asia the most from overall six low-cost airlines that provide domestic services. Most of the representative samples book plane tickets for their traveling and they book tickets during the promotion time that provides cheap-priced tickets. Averagely, the price for a seat in one flight is around 501-1,000 Thai baht. The result of the satisfaction’s survey analyzed by the Marketing Mix Factors (7Ps) of low-cost airlines, which is divided into 4 parts including services before ticket reservations, services before boarding/purchasing tickets (ground), In-flight services, and Services after boarding they are satisfied with the baggage claim point informing, also gives the information that the passengers are highly satisfied with every process or the services.

Keywords: low-cost airline, service, satisfaction, customers' behavior

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Authors: M. S. Turan, Dimple

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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

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Authors: Y. Alrubyli

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Unmanned Arial Vehicles (UAVs), and more specifically, quadcopters need to be stable during their flights. Altitude stability is usually achieved by using a PID controller that is built into the flight controller software. Furthermore, the PID controller has gains that need to be tuned to reach optimal altitude stabilization during the quadcopter’s flight. For that, control system engineers need to tune those gains by using extensive modeling of the environment, which might change from one environment and condition to another. As quadcopters penetrate more sectors, from the military to the consumer sectors, they have been put into complex and challenging environments more than ever before. Hence, intelligent self-stabilizing quadcopters are needed to maneuver through those complex environments and situations. Here we show that by using online reinforcement learning with minimal background knowledge, the altitude stability of the quadcopter can be achieved using a model-free approach. We found that by using background knowledge instead of letting the online reinforcement learning algorithm wander for a while to tune the PID gains, altitude stabilization can be achieved faster. In addition, using this approach will accelerate development by avoiding extensive simulations before applying the PID gains to the real-world quadcopter. Our results demonstrate the possibility of using the trial and error approach of reinforcement learning combined with background knowledge to achieve faster quadcopter altitude stabilization in different environments and conditions.

Keywords: reinforcement learning, Q-leanring, online learning, PID tuning, unmanned aerial vehicle, quadcopter

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Authors: Klaudia Krogulec

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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

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Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan

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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 302

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 552

Authors: Felipe J. Costa, João F. A. Martos, Ronaldo L. Cardoso, Israel S. Rêgo, Marco A. S. Minucci, Antonio C. Oliveira, Paulo G. P. Toro

Abstract:

The Prof. Henry T. Nagamatsu Laboratory of Aerothermodynamics and Hypersonics, at the Institute for Advanced Studies designed the Brazilian 14-X Hypersonic Aerospace Vehicle, which is a technological demonstrator endowed with two innovative technologies: waverider technology, to obtain lift from conical shockwave during the hypersonic flight; and uses hypersonic airbreathing propulsion system called scramjet that is based on supersonic combustion, to perform flights on Earth's atmosphere at 30 km altitude at Mach numbers 7 and 10. The scramjet is an aeronautical engine without moving parts that promote compression and deceleration of freestream atmospheric air at the inlet through the conical/oblique shockwaves generated during the hypersonic flight. During high speed flight, the shock waves and the viscous forces yield the phenomenon called aerodynamic heating, where this physical meaning is the friction between the fluid filaments and the body or compression at the stagnation regions of the leading edge that converts the kinetic energy into heat within a thin layer of air which blankets the body. The temperature of this layer increases with the square of the speed. This high temperature is concentrated in the boundary-layer, where heat will flow readily from the boundary-layer to the hypersonic aerospace vehicle structure. Fay and Riddell and Eckert methods are applied to the stagnation point and to the flat plate segments in order to calculate the aerodynamic heating. On the understanding of the aerodynamic heating it is important to analyze the heat conduction transfer to the 14-X waverider internal structure. ANSYS Workbench software provides the Thermal Numerical Analysis, using Finite Element Method of the 14-X waverider unpowered scramjet at 30 km altitude at Mach number 7 and 10 in terms of temperature and heat flux. Finally, it is possible to verify if the internal temperature complies with the requirements for embedded systems, and, if is necessary to do modifications on the structure in terms of wall thickness and materials.

Keywords: aerodynamic heating, hypersonic, scramjet, thermal analysis

Procedia PDF Downloads 450

Authors: Pierre-Marie Basset, Gabriel Reboul, Binh DangVu, Sébastien Mercier

Abstract:

Rotorcraft provides invaluable services thanks to their Vertical Take-Off and Landing (VTOL), hover and low speed capabilities. Yet their use is still often limited by their cost and environmental impact, especially noise and energy consumption. One of the main brakes to the expansion of the use of rotorcraft for urban missions is the environmental impact. The first main concern for the population is the noise. In order to develop the transversal competency to assess the rotorcraft environmental footprint, a collaboration has been launched between six research departments within ONERA. The progress in terms of models and methods are capitalized into the numerical workshop C.R.E.A.T.I.O.N. “Concepts of Rotorcraft Enhanced Assessment Through Integrated Optimization Network”. A typical mission for which the environmental impact issue is of great relevance has been defined. The first milestone is to perform the pre-sizing of a reference helicopter for this mission. In a second milestone, an alternate rotorcraft concept has been defined: a tandem rotorcraft with optional propulsion. The key design trends are given for the pre-sizing of this rotorcraft aiming at a significant reduction of the global environmental impact while still giving equivalent flight performance and safety with respect to the reference helicopter. The models and methods have been improved for catching sooner and more globally, the relative variations on the environmental impact when changing the rotorcraft architecture, the pre-design variables and the operation parameters.

Keywords: environmental impact, flight performance, helicopter, multi objectives multidisciplinary optimization, rotorcraft

Procedia PDF Downloads 263

Authors: Ghodbane Azeddine, Saad Maarouf, Boland Jean-Francois, Thibeault Claude

Abstract:

This paper proposes a new design of an active fault-tolerant flight control system against abrupt actuator faults. This overall system combines a multiple time scale sliding mode controller for fault compensation and a geometric approach for fault detection and diagnosis. The proposed control system is able to accommodate several kinds of partial and total actuator failures, by using available healthy redundancy actuators. The overall system first estimates the correct fault information using the geometric approach. Then, and based on that, a new reconfigurable control law is designed based on the multiple time scale sliding mode technique for on-line compensating the effect of such faults. This approach takes advantages of the fact that there are significant difference between the time scales of aircraft states that have a slow dynamics and those that have a fast dynamics. The closed-loop stability of the overall system is proved using Lyapunov technique. A case study of the non-linear model of the F16 fighter, subject to the rudder total loss of control confirms the effectiveness of the proposed approach.

Keywords: actuator faults, fault detection and diagnosis, fault tolerant flight control, sliding mode control, multiple time scale approximation, geometric approach for fault reconstruction, lyapunov stability

Procedia PDF Downloads 366