Search results for: asset class

Authors: Ceren Vardar Acar, Mine Caglar

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In finance, the price of a volatile asset can be modeled using fractional Brownian motion (fBm) with Hurst parameter H>1/2. The Black-Scholes model for the values of returns of an asset using fBm is given as, 〖Y_t=Y_0 e^((r+μ)t+σB)〗_t^H, 0≤t≤T where Y_0 is the initial value, r is constant interest rate, μ is constant drift and σ is constant diffusion coefficient of fBm, which is denoted by B_t^H where t≥0. Black-Scholes model can be constructed with some Markov processes such as Brownian motion. The advantage of modeling with fBm to Markov processes is its capability of exposing the dependence between returns. The real life data for a volatile asset display long-range dependence property. For this reason, using fBm is a more realistic model compared to Markov processes. Investors would be interested in any kind of information on the risk in order to manage it or hedge it. The maximum possible loss is one way to measure highest possible risk. Therefore, it is an important variable for investors. In our study, we give some theoretical bounds on the distribution of maximum possible loss of fBm. We provide both asymptotical and strong estimates for the tail probability of maximum loss of standard fBm and fBm with drift and diffusion coefficients. In the investment point of view, these results explain, how large values of possible loss behave and its bounds.

Keywords: maximum drawdown, maximum loss, fractional brownian motion, large deviation, Gaussian process

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Authors: A. I. Ma’ali, R. B. Adeniyi, A. Y. Badeggi, U. Mohammed

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An error estimation of the integrated formulation of the Lanczos tau method for some class of ordinary differential equations was reported. This paper is concern with the generalization of tau approximants and their corresponding error estimates for some class of ordinary differential equations (ODEs) characterized by m + s =3 (i.e for m =1, s=2; m=2, s=1; and m=3, s=0) where m and s are the order of differential equations and number of overdetermination, respectively. The general result obtained were validated with some numerical examples.

Keywords: approximant, error estimate, tau method, overdetermination

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Authors: Ali Safdari-Vaighani

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Pricing financial contracts on several underlying assets received more and more interest as a demand for complex derivatives. The option pricing under asset price involving jump diffusion processes leads to the partial integral differential equation (PIDEs), which is an extension of the Black-Scholes PDE with a new integral term. The aim of this paper is to show how basket option prices in the jump diffusion models, mainly on the Merton model, can be computed using RBF based approximation methods. For a test problem, the RBF-PU method is applied for numerical solution of partial integral differential equation arising from the two-asset European vanilla put options. The numerical result shows the accuracy and efficiency of the presented method.

Keywords: basket option, jump diffusion, ‎radial basis function, RBF-PUM

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Authors: Nagwa Abouserie Soliman

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The Victorian era, which started with the reign of Queen Victoria from June 1837 to January 1901, could be considered as one of the most significant eras that had a crucial impact which formed contemporary British life despite the fact that with the rise of the British empire many negative aspects surfaced, namelysocial inequalities such as class differences, child labor, population increase and poverty due to the industrial revolution. Charles Dickens was one of the most prominent writers of the Victorian era who perceived the hypocrisy of the Victorian mores. The appropriate researchstyle that was chosen for this literary analysis is a qualitative research method in which the researcher used the conceptual approach to analyse theDickensian characterisation andwriting style through diction, narrative voice, and images. The aim of this paper is to argue that Charles Dickens inGreat Expectations (1861) was highly satirical of the Victorian mores, as he uses a lot of sharp irony-to satirize various Victorian traditions such as class divisions, the justice system, the poor working class, and the upper-class snobbery that he thought are inhumane and unjust.

Keywords: victorian, child labour, poverty, class division, snobbery

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Authors: Abigail Gragg

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The goal of this research study was to adjudicate if implementing Howard Gardner’s multiple levels of intelligence would enhance student achievement levels in an Algebra 1 College Preparatory class. This was conducted within every class by incorporating one level of the eight levels of intelligence into small group work in stations. Every class was conducted utilizing small-group instruction. Achievement levels were measured through various forms of collected data that expressed student understandings in class through formative assessments versus student understandings on summative assessments. The data samples included: assessments (i.e. summative and formative assessments), observable data, video recordings, a daily log book, student surveys, and checklists kept during the observation periods. Formative assessments were analyzed during each class period to measure in-class understanding. Summative assessments were dissected per question per accuracy to review the effects of each intelligence implemented. The data was collated into a coding workbook for further analysis to conclude the resulting themes of the research. These themes include 1) there was no correlation to multiple levels of intelligence enhancing student achievement, 2) bodily-kinesthetic intelligence showed to be the intelligence that had the most improvement on test questions and 3) out of all of the bits of intelligence, interpersonal intelligence enhanced student understanding in class.

Keywords: stations, small group instruction, multiple levels of intelligence, Mathematics, Algebra 1, student achievement, secondary school, instructional Pedagogies

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Authors: Eileen Kim

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As socioeconomic disparities grew in New York during the 1970s, artists represented new values that came with the times. Street art, in particular, was birthed from a distinctly urban, fringe setting to ultimately become one of the most lucrative forms of art today. Examining the economic and psychological reasons behind the rise of street art, this paper delves into the development of the art market as a parallel insight into human behaviors and economic models such as supply and demand. The purpose of this study is to show the role of the increasingly divided socioeconomic classes and the rise of art collecting as an asset-building form. This study concludes that the iconography and market value of street art represented distinct values that came from a series of intertwined social matters such as racial tensions and revolutions in industrial innovation.

Keywords: art industry, cultural representation, ethnicity, markets, public property, social classes, street art

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Authors: Shashwat Gangwal

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This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: bitcoin, financial instruments, portfolio management, risk adjusted return

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Authors: Ramin Barati, Atefeh Salemi

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In Victorian era, the society had been surrounded by extreme class ranking in order to identify the people of the classes and to intensify power relationships due to the growth of industry in Charles Dickens's (1812-1870) Great Expectations (2003) in which he illustrates the clash and dichotomy in the 19th century London. The classes in Victorian period have socially divided the population into two parts, the lower and the upper class of the community. In such a panopticon society, the major character Pip was the best example of the working class who was under the domination of violence, malice, and abuse of Miss Havisham as a member of the ruling class in order to take revenge on her failures. The conflict and disunity represented in vindictiveness and the sense of revenge applied by Miss Havisham against his victim Pip, made him experience alienation and eventually suffer from identity crisis. This paper considers New Historicism based on the theories of the French critic Michel Foucault (1926-1984). The social concept, panopticism, was called after the panopticon society, basically elaborated by Foucault in his book Discipline and Punish (1975) and he considers the panopticon as a sign of punitive community of surveillance. This paper evaluates the problems of a dual society to show that the people of the lower class are under the domination of capitalist society.

Keywords: class, identity crisis, violence, panoptic society, domination

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Authors: Kang Hyun Yi

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Wireless power transfer technologies are inductive coupling, magnetic resonance, and capacitive coupling methods, typically. Among them, the capacitive coupling wireless power transfer, also named Capacitive Coupling Wireless Power Transfer (CCWPT), has been researched to overcome the drawbacks of other approaches. The CCWPT has many advantages such as a simple structure, low standing power loss, reduced Electromagnetic Interference (EMI) and the ability to transfer power through metal barriers. In this paper, the CCWPT system with 6.78MHz class D inverter is proposed and analyzed. The proposed system is consisted of the 6.78MHz class D inverter with the LC low pass filter, the capacitor between a transmitter and a receiver and impedance transformers. The system is verified with a prototype for charging mobile devices.

Keywords: wireless power transfer, capacitive coupling power transfer, class D inverter, 6.78MHz

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Authors: Ibrahim Abdel Gadir Malik, Dafalla Siddig Dafalla, Osama Abdelgadir El-Bushra

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Geological and engineering characteristics of intact rock and the discontinuity surfaces was used to describe and classify rock mass into zones based on mechanical and physical properties. Many conditions terms that affect the rock mas; such as Rock strength, Rock Quality Designation (RQD) value, joint spacing, and condition of joint, water condition with block size, joint roughness, separation, joint hardness, friction angle and weathering were used to classify the rock mass into: Good quality (class II) (RMR values range between 75% and 56%), Good to fair quality (class II to III) (RMR values range between 70% and 55%), Fair quality (class III) (RMR values range between 60% and 50%) and Fair to poor quality (Class III to IV) (RMR values, range between (50% and 35%).

Keywords: rock strength, RQD, joints, weathering

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Authors: Gloria Chen

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When offering conventional level-appropriate ESL classes for adults is not feasible, a multilevel adult ESL class can be formed to benefit those who need to learn English for daily function. This paper examines the rationale, the process, the contents, and the outcomes of a multilevel ESL class for adults. The action research discusses a variety of assessments, lesson plans, teaching strategies that facilitate lifelong language learning. In small towns where adult ESL learners are only a handful, often advanced students and inexperienced students have to be placed in one class. Such class might not be viewed as desirable, but with on-going assessments, careful lesson plans, and purposeful strategies, a multilevel ESL class for adults can overcome the obstacles and help learners to reach a higher level of English proficiency. This research explores some hand-on strategies, such as group rotating, cooperative learning, and modifying textbook contents for practical purpose, and evaluate their effectiveness. The data collected in this research include Needs Assessment (beginning of class term), Mid-term Self-Assessment (5 months into class term), End-of-term Student Reflection (10 months into class), and End-of-term Assessment from the Instructor (10 months into class). A descriptive analysis of the data explains the practice of this particular learning community, and reveal the areas for improvement and enrichment. This research answers the following questions: (1) How do the assessments positively help both learners and instructors? (2) How do the learning strategies prepare students to become independent, life-long English learners? (3) How do materials, grouping, and class schedule enhance the learning? The result of the research contributes to the field of teaching and learning in language, not limited in English, by (a) examining strategies of conducting a multilevel adult class, (b) involving adult language learners with various backgrounds and learning styles for reflection and feedback, and (c) improving teaching and learning strategies upon research methods and results. One unique feature of this research is how students can work together with the instructor to form a learning community, seeking and exploring resources available to them, to become lifelong language learners.

Keywords: adult language learning, assessment, multilevel, teaching strategies

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Authors: Nishi Malhotra

Abstract:

Art has developed as a mode of investment and saving. Art and culture of any nation is the source of foreign direct investment (FDI) generation and growth development. Several intermediaries and skill-building organizations thrive on at and culture for their earnings. Indian art market has grown to Rs. 2000 Crores. Art establishment houses access to privileged information is the main reason for arbitrariness and volatility in the market. The commercialization of art and development of the markets with refinement in the taste of the customers have led to the development of art as an investment avenue. Investors keen on investing in these products can do so, and earnings from art are taxable too, like any other capital asset. This research paper is aimed at exploring the role of art and culture as an investment avenue in India and reasons for increasing volatilities in the art market. Based on an extensive literature review and secondary research, a benchmarking study has been conducted to capture the growth of the art as an investment avenue. These studies indicate that during the financial crisis of 2008-10, the art emerged as an alternative investment avenue. The paper aims at discussing the financial engineering of various art funds and instruments. Based on secondary data available from Sotheby’s, Christies, Bonham, there is a positive correlation between strategic diversification and increasing return in the Art market. Similarly, digitization has led to disintermediation in the art markets and also helped to increase the market base. The data clearly enumerates the growing interest of the Indian investor towards art as an investment option. Much like any other broad asset class, art market too thrives on excess returns provided by diversification. Many financial intermediaries and art funds have emerged, to offer valuable investment planning advisory to a genuine investor. This paper clearly highlights the increasing returns of strategic diversification and its impact on reducing volatility in the art markets. Moreover, with coming up of e-auctions and websites, investors are able to analyse art more objectively. Digitization and commercialization of art have definitely helped in reducing volatility in world art markets.

Keywords: art, investment avenue, diversification, digitization

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Authors: Jawad Abuhlail, Hamza Hroub

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Let R be a commutative ring. Representation theory studies the representation of R-modules as (possibly finite) sums of special types of R-submodules. Here we are interested in a class of R-modules between the class of semisimple R-modules and the class of R-modules that can be written as (possibly finite) sums of secondary R-submodules (we know that every simple R-submodule is secondary). We investigate R-modules which can be written as (possibly finite) sums of second R-submodules (we call those modules second representable). Moreover, we investigate the class of (main) second attached prime ideals related to a module with such representation. We provide sufficient conditions for an R-module M to get a (minimal) second representation. We also found the collection of second attached prime ideals for some types of second representable R-modules, in particular within the class of injective R-modules. As we know that every simple R-submodule is second and every second R-submodule is secondary, we can see the importance of the second representable R-module.

Keywords: lifting modules, second attached prime ideals, second representations, secondary representations, semisimple modules, second submodules

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Authors: Mohammad Alnabhan, Awni Hammouri, Mustafa Hammad, Anas Al-Badareen, Omamah Al-Thnebat

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Software visualization is one of the main techniques used to simplify the presentation of software systems and enhance their understandability. It is used to present the software system in a visual manner using simple, clear and meaningful symbols. This study proposes a new 2D software visualization approach. In this approach, each class is represented by rectangle, the name of the class placed above the rectangle, the size of class (Line of Code) represented by the height of the rectangle. The methods and the attributes are represented by circles and triangles respectively. The relationships among classes correspond to arrows. The proposed visualization approach was evaluated in terms of applicability and efficiency. Results have confirmed successful implementation of the proposed approach, and its ability to provide a simple and effective graphical presentation of extracted software components and properties.

Keywords: software visualization, software metrics, calling relationships, 2D graphs

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Authors: Dane B. Norris

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This paper offers a reflective and reflexive examination of the lived reality of a group of young white, working-class males engaging in secondary education in England at a time when this population is widely recognised as the lowest attaining ethnic group within British schools. The focus of the paper is an exploration of the development of identities and aspirations alongside contemporary demographic shifts in the British population within the intersection of neoliberal education policies and the emerging ideological conflict between identity conservatism and liberalism. The construction and performance of intersecting social-class, gender, ethnic and national identities are considered, as well as the process through which socially constructed narratives inform identities and aspirations. Evocative autoethnography is then employed to offer reflections on working-class habitus and, in particular, classed and gendered codes that underpin expectations of manhood in post-industrial culture within an education system which seemingly requires the abandonment of aspects of a working-class background, affiliation, and identity. Findings from the study identify the emergence of a culture of hyper-individualisation amongst white, working-class males in schools and a belief in the meritocratic ideologies of the New Right. In particular, the breakdown of the social contract, including notions of political and civic responsibility, coupled with the symbolic violence perpetrated against working-class culture and solidarity in British schools, have all informed the construction of working-class masculinity which values the individual entrepreneur over the collective and depoliticizes students to an extent where a focus on the spectacle and performance of success has replaced individual and collective investment in community.

Keywords: education, identity, masculinity, neoliberalism, working-class

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Authors: Salma El Hajjami, Jamal Malki, Alain Bouju, Mohammed Berrada

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With the expansion of machine learning and data mining in the context of Big Data analytics, the common problem that affects data is class imbalance. It refers to an imbalanced distribution of instances belonging to each class. This problem is present in many real world applications such as fraud detection, network intrusion detection, medical diagnostics, etc. In these cases, data instances labeled negatively are significantly more numerous than the instances labeled positively. When this difference is too large, the learning system may face difficulty when tackling this problem, since it is initially designed to work in relatively balanced class distribution scenarios. Another important problem, which usually accompanies these imbalanced data, is the overlapping instances between the two classes. It is commonly referred to as noise or overlapping data. In this article, we propose an approach called: One Side Behavioral Noise Reduction (OSBNR). This approach presents a way to deal with the problem of class imbalance in the presence of a high noise level. OSBNR is based on two steps. Firstly, a cluster analysis is applied to groups similar instances from the minority class into several behavior clusters. Secondly, we select and eliminate the instances of the majority class, considered as behavioral noise, which overlap with behavior clusters of the minority class. The results of experiments carried out on a representative public dataset confirm that the proposed approach is efficient for the treatment of class imbalances in the presence of noise.

Keywords: machine learning, imbalanced data, data mining, big data

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Authors: Hankyu Lee, Seoung Bum Kim

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The issue with imbalance and overlapping in the class distribution becomes important in various applications of data mining. The imbalanced dataset is a special case in classification problems in which the number of observations of one class (i.e., major class) heavily exceeds the number of observations of the other class (i.e., minor class). Overlapped dataset is the case where many observations are shared together between the two classes. Imbalanced and overlapped data can be frequently found in many real examples including fraud and abuse patients in healthcare, quality prediction in manufacturing, text classification, oil spill detection, remote sensing, and so on. The class imbalance and overlap problem is the challenging issue because this situation degrades the performance of most of the standard classification algorithms. In this study, we propose a classification procedure that can effectively handle imbalanced and overlapped datasets by splitting data space into three parts: nonoverlapping, light overlapping, and severe overlapping and applying the classification algorithm in each part. These three parts were determined based on the Hausdorff distance and the margin of the modified support vector machine. An experiments study was conducted to examine the properties of the proposed method and compared it with other classification algorithms. The results showed that the proposed method outperformed the competitors under various imbalanced and overlapped situations. Moreover, the applicability of the proposed method was demonstrated through the experiment with real data.

Keywords: classification, imbalanced data with class overlap, split data space, support vector machine

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Authors: Jason Sah

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Music ensemble class is a non-traditional classroom in the sense that it is always a group effort during rehearsal. When measuring student performance ability in class, it is imperative that the grading rubric includes a collaborative skill component. Assessments that stop short of testing students' ability to make music with others undermine the group mentality by elevating individual prowess. Applying empirical and evidence-based methodology, this research develops a grading rubric that defines the criteria for assessing collaborative skill, and then explores different strategies for implementing this rubric in a timely and effective manner. Findings show that when collaborative skill is regularly tested, students gradually shift their attention from playing their own part well to sharing their part with others.

Keywords: assessment, ensemble class, grading rubric, student collaboration

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Authors: Sulastriningsih Djumingin

Abstract:

This study has some objectives. It aims at describing the ability of the second-grade students to write review text without applying the Lesson Study model at SMPN 18 Makassar. Second, it seeks to describe the ability of the second-grade students to write review text by applying the Lesson Study model at SMPN 18 Makassar. Third, it aims at testing the effectiveness of the Lesson Study model in writing review text at SMPN 18 Makassar. This research was true experimental design with posttest Only group design involving two groups consisting of one class of the control group and one class of the experimental group. The research populations were all the second-grade students at SMPN 18 Makassar amounted to 250 students consisting of 8 classes. The sampling technique was purposive sampling technique. The control class was VIII2 consisting of 30 students, while the experimental class was VIII8 consisting of 30 students. The research instruments were in the form of observation and tests. The collected data were analyzed using descriptive statistical techniques and inferential statistical techniques with t-test types processed using SPSS 21 for windows. The results shows that: (1) of 30 students in control class, there are only 14 (47%) students who get the score more than 7.5, categorized as inadequate; (2) in the experimental class, there are 26 (87%) students who obtain the score of 7.5, categorized as adequate; (3) the Lesson Study models is effective to be applied in writing review text. Based on the comparison of the ability of the control class and experimental class, it indicates that the value of t-count is greater than the value of t-table (2.411> 1.667). It means that the alternative hypothesis (H1) proposed by the researcher is accepted.

Keywords: application, lesson study, review text, writing

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Authors: Tejush Badal, Sanaa Alwidian

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Class diagrams are useful tools within the Unified Modelling Language (UML) to model and visualize the relationships between, and properties of objects within a system. As a system evolves over time and space (e.g., products), a series of models with several commonalities and variabilities create what is known as a model family. In circumstances where there are several versions of a model, examining each model individually, becomes expensive in terms of computation resources. To avoid performing redundant operations, this paper proposes an approach for representing a family of class diagrams into Union Models to represent model families using a single generic model. The paper aims to analyze and reason about a family of class diagrams using union models as opposed to individual analysis of each member model in the family. The union algorithm provides a holistic view of the model family, where the latter cannot be otherwise obtained from an individual analysis approach, this in turn, enhances the analysis performed in terms of speeding up the time needed to analyze a family of models together as opposed to analyzing individual models, one model at a time.

Keywords: analysis, class diagram, model family, unified modeling language, union model

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Authors: Nada Souissi, Mourad Mroua

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The main purpose of this study is to examine the interaction between financial asset volatility, economic factors and investor's behavioral indicators related to both the company's and the markets stocks for the period from January 2000 to January2020. Using multiple linear regression and Bayesian Networks modeling, results show a positive and negative relationship between investor's psychology index, economic factors and predicted stock market return. We reveal that the application of the Bayesian Discrete Network contributes to identify the different cause and effect relationships between all economic, financial variables and psychology index.

Keywords: Financial asset return predictability, Economic factors, Investor's psychology index, Bayesian approach, Probabilistic networks, Parametric learning

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Authors: Dane Morace-Court

Abstract:

This paper offers a reflective and reflexive examination of the lived experience of a group of young, white, working-class males engaging in secondary-education in England at a time when this population is widely recognised as the lowest attaining ethnic group within British schools. The focus of the paper is an exploration of the development of identities and aspirations, alongside contemporary demographic and ideological shifts in the British population, in their intersection with neoliberal education policies and the emerging ideological conflict between identity conservatism and liberalism. The construction and performance of intersecting social-class, gender, ethnic and national identities is considered as well as the process through which socially constructed narratives inform identities, values, and aspirations. Evocative autoethnography is then employed to offer reflections on working-class habitus and, in particular, classed and gendered codes that underpin expectations of manhood in post-industrial culture within an education system which seemingly requires the abandonment of aspects of a working-class background. Findings from the study identify the emergence of a culture of hyper-individualisation amongst white, working-class males in schools and a belief in the meritocratic ideologies of the New Right. In particular, the breakdown of the social contract, including notions of political and civic responsibility, coupled with the symbolic violence perpetrated against working-class culture and solidarity in British schools, have all informed the construction of a working-class masculinity which values the individual entrepreneur over the collective, and depoliticizes students to an extent where a focus on the spectacle and performance of success has replaced individual and collective investment in community.

Keywords: education, identity, masculinity, neoliberalism, working-class, intersectionality, autoethnography

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Authors: Ali Amin

Abstract:

This paper describes a flipped learning initiative which was trialed in the delivery of the course: structural analysis and modelling. A short series of interactive videos were developed, which introduced the key concepts of each topic. The purpose of the videos was to introduce concepts and give the students more time to develop their thoughts prior to the lecture. This allowed more time for face to face engagement during the lecture. As part of the initial study, videos were developed for half the topics covered. The videos included a short summary of the key concepts ( < 10 mins each) as well as fully worked-out examples (~30mins each). Qualitative feedback was attained from the students. On a scale from strongly disagree to strongly agree, students were rate statements such as 'The pre-class videos assisted your learning experience', 'I felt I could appreciate the content of the lecture more by watching the videos prior to class'. As a result of the pre-class engagement, the students formed more specific and targeted questions during class, and this generated greater comprehension of the material. The students also scored, on average, higher marks in questions pertaining to topics which had videos assigned to them.

Keywords: flipped learning, structural analysis, pre-class videos, engineering education

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Authors: Yunice Karina Tumewang

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As we have seen, the number of Muslim and their awareness toward financial products and services that conform to Islamic principles are growing rapidly today. Thus, it makes the market environment potentially beneficial for Shari-compliant funds with the expanding prospective client base. However, over the last decade, only small portion of this huge potential market has been covered by the established Islamic asset management firms. This study aims to examine the factors of this untapped market particularly in the demand side. This study will use the qualitative method with primary data through a questionnaire distributed to 500 samples of Muslim population. It will shed light on Muslim attitudes and expectations toward Sharia-compliant retirement planning and pensions. It will also help to raise the awareness of market players to see Islamic pension fund as a promising industry in the foreseeable future.

Keywords: Islamic marketing, Islamic finance, Islamic asset management, Islamic pension fund

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Authors: Trisiladi Supriyanto

Abstract:

Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: M. Ben Slimene, M.-S. Ouali

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Asset management of urban infrastructures faces a multitude of challenges that need to be overcome to obtain a reliable measurement of performances. Predicting the performance of slowly aging systems is one of those challenges, which helps the asset manager to investigate specific failure modes and to undertake the appropriate maintenance and rehabilitation interventions to avoid catastrophic failures as well as to optimize the maintenance costs. This article presents a methodology for modeling the deterioration of slowly degrading assets based on an operating history. It consists of extracting degradation profiles by grouping together assets that exhibit similar degradation sequences using an unsupervised classification technique derived from artificial intelligence. The obtained clusters are used to build the performance prediction models. This methodology is applied to a sample of a stormwater drainage culvert dataset.

Keywords: artificial Intelligence, clustering, culvert, regression model, slow degradation

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Authors: Carlos M. Parra, Matthew Sutherland, Ranjita Poudel

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Reduced mental-bandwidth related to low socioeconomic status (low-SES) might lead to impulsivity and risk-taking behavior, which poses as a major hurdle towards asset building (savings) behavior. Understanding the relationship between risk-related personality metrics as well as laboratory risk behavior and real-life savings behavior can help facilitate the development of effective asset building programs, which are vital for mitigating financial vulnerability and income inequality. As such, this study explored the relationship between personality metrics, laboratory behavior in a risky decision-making task and real-life asset building (savings) behaviors among individuals with low-SES from Miami, Florida (FL). Study participants (12 male, 15 female) included racially and ethnically diverse adults (mean age 41.22 ± 12.65 years), with incomplete higher education (18% had High School Diploma, 30% Associates, and 52% Some College), and low annual income (mean $13,872 ± $8020.43). Participants completed eight self-report surveys and played a widely used risky decision-making paradigm called the Balloon Analogue Risk Task (BART). Specifically, participants played three runs of BART (20 trials in each run; total 60 trials). In addition, asset building behavior data was collected for 24 participants who opened and used savings accounts and completed a 6-month savings program that involved monthly matches, and a final reward for completing the savings program without any interim withdrawals. Each participant’s total savings at the end of this program was the main asset building indicator considered. In addition, a new effective use of average pump bet (EUAPB) indicator was developed to characterize each participant’s ability to place winning bets. This indicator takes the ratio of each participant’s total BART earnings to average pump bet (APB) in all 60 trials. Our findings indicated that EUAPB explained more than a third of the variation in total savings among participants. Moreover, participants who managed to obtain BART earnings of at least 30 cents out of their APB, also tended to exhibit better asset building (savings) behavior. In particular, using this criterion to separate participants into high and low EUAPB groups, the nine participants with high EUAPB (mean BART earnings of 35.64 cents per APB) ended up with higher mean total savings ($255.11), while the 15 participants with low EUAPB (mean BART earnings of 22.50 cents per APB) obtained lower mean total savings ($40.01). All mean differences are statistically significant (2-tailed p  .0001) indicating that the relation between higher EUAPB and higher total savings is robust. Overall, these findings can help refine asset building interventions implemented by policy makers and practitioners interested in reducing financial vulnerability among low-SES population. Specifically, by helping identify individuals who are likely to readily take advantage of savings opportunities (such as matched savings programs) and avoiding the stipulation of unnecessary and expensive financial coaching programs to these individuals. This study was funded by J.P. Morgan Chase (JPMC) and carried out by scientists from Florida International University (FIU) in partnership with Catalyst Miami.

Keywords: balloon analogue risk task (BART), matched savings programs, asset building capability, low-SES participants

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Authors: Yukiko Fujiwara

Abstract:

As a language learning methodology, Content and Language Integrated Learning (CLIL) has become increasingly prevalent in Japan. Most CLIL classroom practice and its research are conducted in EFL fields. However, much less research has been done in the Japanese language learning setting. Therefore, there are still many issues to work out using CLIL in the Japanese language teaching (JLT) setting. it is expected that more research will be conducted on both authentically and academically. Under such circumstances, this is one of the few classroom-based CLIL researches experiments in JLT and aims to find an effective course design for a class with students at different proficiency levels. The class was called ‘Japanese culture A’. This class was offered as one of the elective classes for International exchange students at a Japanese university. The Japanese proficiency level of the class was above the Japanese Language Proficiency Test Level N3. Since the CLIL approach places importance on ‘authenticity’, the class was designed with materials and activities; such as books, magazines, a film and TV show and a field trip to Kyoto. On the field trip, students experienced making traditional Japanese desserts, by receiving guidance directly from a Japanese artisan. Through the course, designated task sheets were used so the teacher could get feedback from each student to grasp what the class proficiency gap was. After reading an article on Japanese culture, students were asked to write down the words they did not understand and what they thought they needed to learn. It helped both students and teachers to set learning goals and work together for it. Using questionnaires and interviews with students, this research examined whether the attempt was effective or not. Essays they wrote in class were also analyzed. The results from the students were positive. They were motivated by learning authentic, natural Japanese, and they thrived setting their own personal goals. Some students were motivated to learn Japanese by studying the language and others were motivated by studying the cultural context. Most of them said they learned better this way; by setting their own Japanese language and culture goals. These results will provide teachers with new insight towards designing class materials and activities that support students in a multilevel CLIL class.

Keywords: authenticity, CLIL, Japanese language and culture, multilevel class

Procedia PDF Downloads 223

Authors: Khalil Khan, Ikram Syed, Muhammad Ehsan Mazhar, Iran Uddin, Nasir Ahmad

Abstract:

Face parts labeling is the process of assigning class labels to each face part. A face parts labeling method (FPL) which divides a given image into its constitutes parts is proposed in this paper. A database FaceD consisting of 564 images is labeled with hand and make publically available. A supervised learning model is built through extraction of features from the training data. The testing phase is performed with two semantic segmentation methods, i.e., pixel and super-pixel based segmentation. In pixel-based segmentation class label is provided to each pixel individually. In super-pixel based method class label is assigned to super-pixel only – as a result, the same class label is given to all pixels inside a super-pixel. Pixel labeling accuracy reported with pixel and super-pixel based methods is 97.68 % and 93.45% respectively.

Keywords: face labeling, semantic segmentation, classification, face segmentation

Procedia PDF Downloads 228

Authors: Jugal K. Prajapat, Manivannan M.

Abstract:

In this article we have studied a class of sense preserving harmonic mappings in the unit disk D. Let B⁰H (α, β) denote the class of sense-preserving harmonic mappings f=h+g ̅ in the open unit disk D and satisfying the condition |z h״(z)+α (h׳(z)-1) | ≤ β - |z g″(z)+α g′(z)| (α > -1, β > 0). We have proved that B⁰H (α, β) is close-to-convex in D. We also prove that the functions in B⁰H (α, β) are stable harmonic univalent, stable harmonic starlike and stable harmonic convex in D for different values of its parameters. Further, the coefficient estimates, growth results, area theorem, boundary behavior, convolution and convex combination properties of the class B⁰H (α, β) of harmonic mapping are obtained.

Keywords: analytic, univalent, starlike, convex and close-to-convex

Procedia PDF Downloads 137