Search results for: Rufus Adesoji Adedoyin

Authors: Abiodun Afolabi, Rufus Adesoji Adedoyin

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This study investigated and compared the effects of gym-based exercise programme (GEBP) and audio-visual guided home-based exercise programme (AVGHBEP) on selected Anthropometric variables (Weight (W), Body Mass Index (BMI), Waist Circumference (WC), Hip Circumference (HC), Thigh Circumference (TC), Waist-Hip-Ratio (WHR), Waist-Height-Ratio (WHtR), Waist-Thigh-Ratio (WTR), Biceps Skinfold Thickness (BSFT), Triceps Skinfold Thickness (TSFT), Suprailliac Skinfold Thickness (SISFT), Subscapular Skinfold Thickness (SSSFT) and Percent Body Fat (PBF)); and Cardiovasular variables (Systolic Blood Pressure (SBP), Diastolic Blood Pressure (DBP) and Heart Rate (HR)) of overweight and obese students of Federal College of Education (Special), Oyo, Oyo State, Nigeria, with a view to providing information and evidence for GBEP and AVGHBEP in reducing overweight and obesity for promoting cardiovascular fitness. Eighty overweight and obese students (BMI ≥ 25 Kg/m²) were involved in this pretest-posttest quasi experimental study. Participants were randomly assigned into GBEP (n = 40) and AVGBBEP (n = 40) groups. Anthropometric and cardiovascular variables were measured using a weighing scale, height meter, tape measure, skinfold caliper and electronic sphygmomanometer following standard protocols. GBEP and AVGHBEP were implemented following a circuit training (aerobic and resistance training) pattern with a duration of 40-60 minutes, thrice weekly for twelve weeks. GBEP consisted of gymnasium supervised exercise programme while AVGHBEP is a Visual Display guided exercise programme conducted at the home setting. Data were analyzed by Descriptive and Inferential Statistics. The mean ages of the participants were 22.55 ± 2.55 and 23.65 ± 2.89 years for the GBEP group and AVGHBEP group, respectively. Findings showed that in the GBEP group, there were significant reductions in anthropometric variables and adiposity measures of Weight, BMI, BSFT, TSFT, SISFT, SSSFT, WC, HC, TC, WHtR, and PBF at week 12 of the study. Similarly, in the AVGHBEP group, there were significant reductions in Weight, BMI, BSFT, TSFT, SISFT, SSSFT, WC, HC, TC, WHtR and PBF at the 12th week of intervention. Comparison of the effects of GEBP and AVGHBEP on anthropometric variables and measures of adiposity showed that there was no significant difference between the two groups in weight, BMI, BSFT, TSFT, SISFT, SSSFT, WC, HC, TC, WHR, WHtR, WTR and PBF between the two groups at week 12 of the study. Furthermore, findings on the effects of exercise on programmes on cardiovascular variables revealed that significant reductions occurred in SBP in GBEP group and AVGHBEP group respectively. Comparison of the effects of GBEP and AVGHBEP on cardiovascular variables showed that there was no significant difference in SBP, DBP and HR between the two groups at week 12 of the study. It was concluded that the Audio-Visual Guided Home-based Exercise Programme was as effective as the Gym-Based Exercise Programme in causing a significant reduction in anthropometric variables and body fat among college students who are overweight and obese over a period of twelve weeks. Both Gymnasium-Based Exercise Programme and Audio-Visual Guided Home-Based Exercise Programme led to significant reduction in Systolic Blood Pressure over a period of weeks. Audio-Visual Guided Home-Based Exercise Programme can, therefore, be used as an alternative therapy in the non-pharmacological management of people who are overweight and obese.

Keywords: gym-based exercises, audio-visual guided home-based exercises, anthropometric parameters, cardiovascular parameters, overweight students, obese students

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Authors: Hassan Adedoyin Rasaq

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The marketing efforts of the present day business is not just geared towards meeting the consumer’s needs at a price, but ensuring good customer satisfaction, and strategizing on how to retain such customers. Customer satisfaction and retention is achievable through the co-ordination of the marketing mixes; Product, Price, Promotion and Place; Relationship Marketing; After-Sales Service; Rebates/Discounts/Price reduction policy and Total Quality Management (TQM). A first-hand customer, If well satisfied, will become a company’s repeat customer, proceeds to become a client and goes further to become an advocate of the company by applauding the company’s products/services and encouraging others to buy from it. It is the objective of this paper, therefore, to guide business organizations on how to enhance customer satisfaction, and retain existing customers as a means of long-term survival in marketing. The responses of 72 randomly selected Marketing personnel spread across three (3) food and beverage companies in Nigeria were analyzed. One hypothesis was tested using a one-way analysis of variance (ANOVA) statistical tool, and it was discovered that Relationship marketing contributed to organizational profitability and growth.

Keywords: customer satisfaction, retention strategies, marketing, marketing mixes

Procedia PDF Downloads 520

Authors: Oluseun A. Sanuade, Sanlinn I. Kaka, Adesoji O. Akanji, Olukole A. Akinbiyi

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Prospect evaluation of ‘the ‘ADE’ field was done using 3D seismic data and well log data. The field is located in the offshore Niger Delta where water depth ranges from 450 to 800 m. The objectives of this study are to explore deeper prospects and to ascertain the kind of traps that are favorable for the accumulation of hydrocarbon in the field. Six horizons with major and minor faults were identified and mapped in the field. Time structure maps of these horizons were generated and using the available check-shot data the maps were converted to top structure maps which were used to calculate the hydrocarbon volume. The results show that regional structural highs that are trending in northeast-southwest (NE-SW) characterized a large portion of the field. These highs were observed across all horizons revealing a regional post-depositional deformation. Three prospects were identified and evaluated to understand the different opportunities in the field. These include stratigraphic pinch out and bi-directional downlap. The results of this study show that the field has potentials for new opportunities that could be explored for further studies.

Keywords: hydrocarbon, play, prospect, stratigraphy

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Authors: Festus Adedoyin, Nana Mbeah Otoo, Sofia Meacham

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Hypertension is one of the main health issues in Ghana, where prevalence is higher in rural than in urban areas. This is due to the challenges rural areas have in accessing technology and healthcare services for hypertension control. This study's goal is to create a digital healthcare solution to alleviate this inequality. Through an analysis of current technology and problems, using the ring onion methodology, the study determined the needs for the intervention and evaluated healthcare disparities. An online application with teleconsultation capabilities, reminder mechanisms, and clinical decision support is part of the suggested solution. In outlying areas, mobile clinics in containers with the required equipment will be established. Heuristic evaluation and think-aloud sessions were used to assess the prototype's usability and navigational problems. This study highlights the need to develop digital health interventions to help manage hypertension in rural locations and decrease healthcare disparities. To develop and improve digital healthcare solutions for rural areas worldwide and in Ghana, this study might be used as a tool for future research.

Keywords: digital health, health inequalities, hypertension management, rural areas

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Authors: Oyenike M. Olanrewaju, Faith O. Echobu, Aderemi G. Adesoji, Emmy Danny Ajik, Joseph Nda Ndabula, Stephen Lucas

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Nutrients are required for any soil with which plants thrive to improve efficient growth and productivity. Amongst these nutrients required for proper plant productivity are nitrogen, phosphorus and potassium (NPK). Due to factors like leaching, nutrients uptake by plants, soil erosion and evaporation, these elements tend to be in low quantity and the need to replenish them arises. But these replenishment of soil nutrients cannot be done without a timely soil test to enable farmers to know the amount of each element in short quantity and evaluate the amount required to be added. Though wet soil analysis is good but it comes with a lot of challenges ranging from soil test gargets availability to the technical knowledge of how to conduct such soil test by the common farmer. Internet of things test kit was developed to fill in the gaps created by wet soil analysis, as it can test for N, P, K, soil temperature and soil moisture in a given soil at the time of test. In this implementation, sample test was carried out within 0.2 hectares of land divided into smaller plots. The kits perform adequately well as the range of values obtained across the segments were within a very close range.

Keywords: Internet of Things, soil nutrients, test kit, soil temperature

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Authors: Olanike O. Akinwale, Isiaka S. Adedoyin

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Revenue is a fund realized by the government to meet both current and capital expenditures. The study found out the various ways through which local governments in Nigeria generate revenue or obtain funds and determined whether the people of Boripe local government are paying tax as at when due and also evaluated how the revenue generated is being used by the local government. During the course of this study, research questionnaires were drafted and distributed to respondents in the local government secretariat who supplied the information needed to carry out the research work. Data were collected by using simple random sampling technique where members of the population have been given equal chance of being picked as a member of the sample. Data were analysed using chart table; the chart analyzed the figure of the past two years revenue and expenditure of the local government. It was deduced from the result that revenue generated but this was not up to what one expected for this local government to finance the projected expenditure when the size was considered, its location as well as its natural endowment of this local government. This was due to lack of cooperation of the people and staffs within the local government in the local government jurisdiction as well as fraudulent activities the revenue collectors engaged in. Revenue generation is a fuel for development in any organization whether public or private. The ability of revenue drive of Boripe was not strong enough since the targeted revenue from taxation was not enough to meet the projected expenditure for a particular year as in 2016, the difference was carried forward to the next year.

Keywords: appraisal, expenditure, local government, questionnaire, revenue

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Authors: Adesoji Sodeinde

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Analytical derivatives has recently undergone an explosive growth in areas of separation techniques, likewise in detectability of certain compound/concentrated ions. The gloomy and depressing scenario which charaterized the application of analytical derivatives in areas of water analysis, water cycle and the environment should not be allowed to continue unabated. Due to technological advancement in various chemical/biochemical analysis separation techniques is widely used in areas of medical, forensic and to measure and assesses environment and social-economic impact of alternative control strategies. This technological improvement was dully established in the area of comparison between certain separation/detection techniques to bring about vital result in forensic[as Gas liquid chromatography reveals the evidence given in court of law during prosecution of drunk drivers]. The water quality analysis,pH and water temperature analysis can be performed in the field, the concentration of dissolved free amino-acid [DFAA] can also be detected through separation techniques. Some important derivatives/ions used in separation technique. Water analysis : Total water hardness [EDTA to determine ca and mg ions]. Gas liquid chromatography : innovative gas such as helium [He] or nitrogen [N] Water cycle : Animal bone charcoal,activated carbon and ultraviolet light [U.V light].

Keywords: analytical derivative, environment, water analysis, chemical/biochemical analysis

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Authors: Francis Ojo Ologunagba, Monday Olatunbosun Ale, Lewis A. Olutayo

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The economic successes of commercial development of agricultural product processing depend upon the adaptability of each processing stage to mechanization. In maize processing, one of its post-harvest operations that is still facing a major challenge is dehusking. Therefore, a maize dehusking machine that could replace the prevalent traditional method of dehusking maize in developing countries, especially Nigeria was designed, constructed and tested at the Department of Agricultural and Bio-Environmental Engineering Technology, Rufus Giwa Polytechnic, Owo. The basic features of the machine are feeding unit (hopper), housing frame, dehusking unit, drive mechanism and discharge outlets. The machine was tested with maize of 50mm average diameter at 13% moisture content and 2.5mm machine roller clearance. Test results showed appreciable performance with the dehusking efficiency of 92% and throughput capacity of 200 Kg/hr at a machine speed of 400rpm. The estimated production cost of the machine at the time of construction is forty-five thousand, one hundred and eighty nairas (₦45,180) excluding the cost of the electric motor. It is therefore recommended for small and medium-scale maize farmers and processors in Nigeria.

Keywords: construction, dehusking, design, efficiency, maize

Procedia PDF Downloads 288

Authors: Oyenike M. Olanrewaju, Faith O. Echobu, Aderemi G. Adesoji, Emmy Danny Ajik, Joseph Nda Ndabula, Stephen Luka

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Nutrients are required for any soil with which plants thrive to improve efficient growth and productivity. Amongst these nutrients required for proper plant productivity are nitrogen, phosphorus and potassium (NPK). Due to factors like leaching, nutrient uptake by plants, soil erosion and evaporation, these elements tend to be in low quantity and the need to replenish them arises. However, this replenishment of soil nutrients cannot be done without a timely soil test to enable farmers to know the amount of each element in short quantity and evaluate the amount required to be added. Though wet soil analysis is good, it comes with a lot of challenges ranging from soil test gargets availability to the technical knowledge of how to conduct such soil tests by the common farmer. In this research, an Internet of Things test kit was developed to fill in the gaps created by wet soil analysis. The kit comprises components that were used to measure Nitrogen, Phosphorous and potassium (N, P, K) soil content, soil temperature and soil moisture at a series of intervals. In this implementation, the fieldwork was carried out within 0.2 hectares of land divided into smaller plots. Nitrogen values from the three reps range from 14.8 – 15mg/kg, Phosphorous 20.2-21.4 mg/kg, and Potassium 50.2-53 mg/kg. This information with soil moisture information obtained enabled the farmers to make informed and precise decisions on fertilizer applications, and wastage was avoided.

Keywords: internet of things, soil Nutrients, test kit, soil temperature

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Authors: Adedoyin Opeyemi Osokoya

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The study assesses the influence of social media on perceived learning outcome of agricultural science students in tertiary institutions in Oyo state, Nigeria. The four-stage sampling procedure was used to select participants. All students in the seven tertiary institutions that offer agriculture science as a course of study in Oyo State was the population. A university, a college of agriculture and a college of education were sampled, and a department from each was randomly selected. Twenty percent of the students’ population in the respective selected department gave a sample size of 165. Questionnaire was used to collect information on respondents’ personal characteristics and information related to access to social media. Data were analysed using descriptive statistics, chi-square, correlation, and multiple regression at the 0.05 confidence level. Age and household size were 21.13 ± 2.64 years and 6 ± 2.1 persons respectively. All respondents had access to social media, majority (86.1%) owned Android phone, 57.6% and 52.7% use social media for course work and entertainment respectively, while the commonly visited sites were WhatsApp, Facebook, Google, Opera mini. Over half (53.9%) had an unfavourable attitude towards the use of social media for learning; benefits of the use of social media for learning was high (56.4%). Removal of information barrier created by distance (x̄=1.58) was the most derived benefit, while inadequate power supply (x̄=2.36), was the most severe constraints. Age (β=0.23), sex (β=0.37), ownership of Android phone (β=-1.29), attitude (β=0.37), constraints (β =-0.26) and use of social media (β=0.23) were significant predictors of influence on perceived learning outcomes.

Keywords: use of social media, agricultural science students, undergraduates of tertiary institutions, Oyo State of Nigeria

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Authors: Adedoyin Akintunde Adedayo, Onilude Abiodun Anthony

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The continuous usage of synthetic antibiotics in livestock production has led to the resistance of microbial pathogens. This has prompted research to find alternative sources. This study aims to compare the growth and intestinal health of broilers fed scent leaf meal (SLM) as an alternative to synthetic antibiotics. The study used a completely randomized design (CRD) with 300 one-week-old Arbor Acres broiler chicks. The chicks were divided into six treatments with five replicates of ten birds each. The feeding trial lasted 49 days, including a one-week acclimatization period. Commercial broiler diets were used. The diets included a negative control (no leaf meal or antibiotics), a positive control (0.10% oxy-tetracycline), and four diets with different levels of SLM (0.5%, 1.0%, 1.5%, and 2.0%). The supplementation of both oxy-tetracycline and SLM improved feed intake during the finisher phase. Birds fed SLM at a 1% inclusion level showed significantly (P<0.05) improved average body weight gain (ABWG), lowered feed-to-gain ratio, and cost per kilogram of weight gain compared to other diets. The mortality (2.0%) rate was significantly higher in the negative control group. White blood cell levels varied significantly (P<0.05) in birds fed SLM-supplemented diets, and the use of 2% SLM led to an increase in liver weight. However, welfare indices were not compromised.

Keywords: Arbor Acres, phyto-biotic, synthetic antibiotic, white blood cell, liver weight

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Authors: Rufus Temidayo Akinnubi, M. O. Adeniyi

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Existing diurnal air temperature models simulate night time air temperature over Nigeria with high biases. An improved parameterization is presented for modeling the diurnal pattern of air temperature (Ta) which is applicable in the calculation of turbulent heat fluxes in Global climate models, based on Nigeria Micrometeorological Experimental site (NIMEX) surface layer observations. Five diurnal Ta models for estimating hourly Ta from daily maximum, daily minimum, and daily mean air temperature were validated using root-mean-square error (RMSE), Mean Error Bias (MBE) and scatter graphs. The original Fourier series model showed better performance for unstable air temperature parameterizations while the stable Ta was strongly overestimated with a large error. The model was improved with the inclusion of the atmospheric cooling rate that accounts for the temperature inversion that occurs during the nocturnal boundary layer condition. The MBE and RMSE estimated by the modified Fourier series model reduced by 4.45 oC and 3.12 oC during the transitional period from dry to wet stable atmospheric conditions. The modified Fourier series model gave good estimation of the diurnal weather patterns of Ta when compared with other existing models for a tropical environment.

Keywords: air temperature, mean bias error, Fourier series analysis, surface energy balance,

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Authors: Adesoji Tunbosun Jaiyeola, Josiah Adeyemo

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Sediment yield can be considered to be the total sediment load that leaves a drainage basin. The knowledge of the quantity of sediments present in a river at a particular time can lead to better flood capacity in reservoirs and consequently help to control over-bane flooding. Furthermore, as sediment accumulates in the reservoir, it gradually loses its ability to store water for the purposes for which it was built. The development of hydrological models to forecast the quantity of sediment present in a reservoir helps planners and managers of water resources systems, to understand the system better in terms of its problems and alternative ways to address them. The application of artificial intelligence models and technique to such real-life situations have proven to be an effective approach of solving complex problems. This paper makes an extensive review of literature relevant to the theories and applications of evolutionary algorithms, and most especially genetic programming. The successful applications of genetic programming as a soft computing technique were reviewed in sediment modelling and other branches of knowledge. Some fundamental issues such as benchmark, generalization ability, bloat and over-fitting and other open issues relating to the working principles of GP, which needs to be addressed by the GP community were also highlighted. This review aim to give GP theoreticians, researchers and the general community of GP enough research direction, valuable guide and also keep all stakeholders abreast of the issues which need attention during the next decade for the advancement of GP.

Keywords: benchmark, bloat, generalization, genetic programming, over-fitting, sediment yield

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Authors: Aleburu Rufus Edeki

Abstract:

The activities of Boko Haram terrorist group have become worrisome in Nigeria. Boko Haram killed innocent civilians, destroyed schools, churches, military barracks, police stations, and other government establishments. The federal government of Nigerian Military engaged in counter-insurgency to curtail the activities of Boko Haram militant. The engagement of the military led to mass killing across the Northeast region. The reported cases of mass-killing led to petition written to the International Criminal Court by the civil society organization as a result of denial by the military authorities of their involvement. The investigation carried out by the International Criminal Court awash by denial of military involvement in war crimes. As a result of this denial, the ICC called for further investigation of war crimes by the military. This study was carried out among fifty-eight participants. In-depth interviews were conducted among the following participants: civilians 41; human rights commission 5 and civil society 12. This study revealed that professional ethics is associated with denial of military involvement in mass killing in the region. This study also revealed that denial is associated with personality. It was also found that social attributes such as trauma, shame, ostracism, criticism, and punishment are found with denial. It is therefore concluded in this study that protection is needed for war actors, so that situation of denial is minimal in post-conflict truth findings.

Keywords: Boko Haram, crime, insurgence, war

Procedia PDF Downloads 110

Authors: Rufus Olufemi Adebayo, Sylvia Phiwani Zulu

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Interpreting in the setting of diverse language and multicultural congregants, is often understood as integrating the content of the message. Preaching, similar to any communication, takes seriously people’s multiple contexts. The one who provides the best insight into understanding “the other”, traditionally speaking could be an interpreter in a multilingual context. Nonetheless, there are reflections in the loss of spiritual communication, translation and interpretive dialogue. No matter how eloquent the preacher is, an interpreter can make or mere the sermon (speech). The sermon that the preacher preaches is not always the one the congregation hears from the interpreter. In other occurrences, however, interpreting can lead not only to distort messages but also to dissatisfied audiences and preacher being overshadowed by the pranks of the interpreter. Using qualitative methodology, this paper explores the challenges and the conventional assumptions about preachers’ interpreter as influenced by spirituality, culture, and language in empirical and theoretical perspectives. An emphasis on the bias translation and the basis of reality that suppresses or devalues the spiritual communication is examined. The result indicates that interpretation of the declaration of guilt, history of congregation, spirituality, attitudes, morals, customs, specific practices of a preacher, education, and the environment form an entangled and misinterpretation. The article concludes by re-examining these qualities and rearticulating them into a preliminary theory for practice, as distinguished from theory, which could possibly enhance the development of more sustainable multilingual interpretation in the South African Pentecostal churches.

Keywords: congregants, divergences, interpreting/translation, language & communication, sermon/preaching

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Authors: T. M. Agbede, A. O. Adekiya

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Field experiments were conducted during 2013, 2014 and 2015 cropping seasons at Rufus Giwa Polytechnic, Owo, Ondo State, southwest Nigeria. The objective of the investigation was to determine the effect of Cocoa Pod Ash (CPA) and Poultry Manure (PM) applied solely and their combined form, as sources of fertilizers on soil properties, leaf nutrient composition, growth and yield of yam. Three soil amendments: CPA, PM (sole forms), CPA and PM (mixture), were applied at 20 t ha^-1 with an inorganic fertilizer (NPK 15-15-15) at 400 kg ha^-1 as a reference and a natural soil fertility, NSF (control). The five treatments were arranged in a randomized complete block design with three replications. The test soil was slightly acidic, low in organic carbon (OC), N, P, K, Ca and Mg. Results showed that soil amendments significantly increased (p = 0.05) tuber weights and growth of yam, soil and leaf N, P, K, Ca and Mg, soil pH and OC concentrations compared with the NSF (control). The mixture of CPA+PM treatment increased tuber weights of yam by 36%, compared with inorganic fertilizer (NPK) and 19%, compared with PM alone. Sole PM increased tuber weight of yam by 15%, compared with NPK. Sole or mixed forms of soil amendments showed remarkable improvement in soil physical properties, nutrient availability, compared with NPK and the NSF (control). Integrated application of CPA at 10 t ha^-1 + PM at 10 t ha^-1 was the most effective treatment in improving soil physical properties, increasing nutrient availability and yam performance than sole application of any of the fertilizer materials.

Keywords: cocoa pod ash, leaf nutrient composition, poultry manure, soil properties, yam

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Authors: F. A. Adesoji, A. A. Ayandele

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There has been a concern over non-responsiveness of educational programme in Nigeria’s higher institutions to adequately meet social needs. The study, therefore, investigated the effectiveness of basic elements of the Social Studies Curriculum, the contributions of the Teacher–Related Variables (TRV) such as qualification, area of specialization, teaching experience, teaching methods, gender and teaching facilities to the implementation of the curriculum (IOC) in the Colleges of Education (COEs). The study adopted the descriptive survey design. Four COEs in Oyo, Osun, Ondo and Lagos States were purposively selected. Stratified sampling technique was used to select 455 Social Studies students and 47 Social Studies lecturers. Stakeholders’ Perception of Social Studies Curriculum (r = 0.86), Social Studies Curriculum Resources scale (r = 0.78) and Social Studies Basic Concepts Test (r = 0.78) were used for data collection. Data were analysed using descriptive statistics, multiple regression, and t-test at 0.05 level of significance. COEs teachers and students rated the elements of the curriculum to be effective with mean scores x̄ =3.02 and x̄ =2.80 respectively; x̄ =5.00 and x̄ = 2.50 being the maximum and minimum mean scores. The finding showed average level of availability (x̄ =1.60), adequacy (x̄ =1.55) and utilization (x̄ =1.64) of teaching materials, x̄ =3.00 and x̄ =1.50 being maximum and minimum mean scores respectively. Academic performance of the students is on average with the mean score of x̄ =51.4775 out of maximum mean score of x̄ =100. The TRV and teaching facilities had significant composite contribution to IOC (F (6,45) = 3.92:R² = 0.26) with 39% contributions to the variance of IOC. Area of specialization (β= 29, t = 2.05) and teaching facilities (β = -25, t = 1.181) contributed significantly. The implementation of bachelor degree in Social Studies curriculum was effective in the colleges of education. There is the need to beef-up the provision of facilities to improve the implementation of the curriculum.

Keywords: bachelor degree in social studies, colleges of education in southwestern Nigeria, curriculum implementation, social studies curriculum

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Authors: Timothy Kayode Samson, Adedoyin Isola Lawal

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The past five years have shown a sharp increase in public interest in the crypto market, with its market capitalization growing from $100 billion in June 2017 to $2158.42 billion on April 5, 2022. Despite the outrageous nature of the volatility of cryptocurrencies, the use of skewed error innovation distributions in modelling the volatility behaviour of these digital currencies has not been given much research attention. Hence, this study models the volatility of 5 largest cryptocurrencies by market capitalization (Bitcoin, Ethereum, Tether, Binance coin, and USD Coin) using four variants of GARCH models (GJR-GARCH, sGARCH, EGARCH, and APARCH) estimated using three skewed error innovation distributions (skewed normal, skewed student- t and skewed generalized error innovation distributions). Daily closing prices of these currencies were obtained from Yahoo Finance website. Finding reveals that the Binance coin reported higher mean returns compared to other digital currencies, while the skewness indicates that the Binance coin, Tether, and USD coin increased more than they decreased in values within the period of study. For both Bitcoin and Ethereum, negative skewness was obtained, meaning that within the period of study, the returns of these currencies decreased more than they increased in value. Returns from these cryptocurrencies were found to be stationary but not normality distributed with evidence of the ARCH effect. The skewness parameters in all best forecasting models were all significant (p<.05), justifying of use of skewed error innovation distributions with a fatter tail than normal, Student-t, and generalized error innovation distributions. For Binance coin, EGARCH-sstd outperformed other volatility models, while for Bitcoin, Ethereum, Tether, and USD coin, the best forecasting models were EGARCH-sstd, APARCH-sstd, EGARCH-sged, and GJR-GARCH-sstd, respectively. This suggests the superiority of skewed Student t- distribution and skewed generalized error distribution over the skewed normal distribution.

Keywords: skewed generalized error distribution, skewed normal distribution, skewed student t- distribution, APARCH, EGARCH, sGARCH, GJR-GARCH

Procedia PDF Downloads 71