Search results for: closing the gap

Authors: S. Mogili, J. S. Kuang, N. Zhang

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Knee joints, the beam column connections found at the roof level of a moment resisting frame buildings, are inherently different from conventional interior and exterior beam column connections in the way that forces from adjoining members are transferred into joint and then resisted by the joint. A knee connection has two distinct load resisting mechanisms, each for closing and opening actions acting simultaneously under reversed cyclic loading. In spite of many distinct differences in the behaviour of shear resistance in knee joints, there are no special design provisions in the major design codes available across the world due to lack of in-depth research on the knee connections. To understand the relative importance of opening and closing actions in design, it is imperative to study knee joints under varying shear stresses, especially at higher opening-to-closing shear stress ratios. Three knee joint specimens, under different input shear stresses, were designed to produce a varying ratio of input opening to closing shear stresses. The design was carried out in such a way that the ratio of flexural strength of beams with consideration of axial forces in opening to closing actions are maintained at 0.5, 0.7, and 1.0, thereby resulting in the required variation of opening to closing joint shear stress ratios among the specimens. The behaviour of these specimens was then carefully studied in terms of closing and opening capacities, hysteretic behaviour, and envelope curves to understand the differences in joint performance based on which an attempt to suggest design guidelines for knee joints is made emphasizing the relative importance of opening and closing actions. Specimens with relatively higher opening stresses were observed to be more vulnerable under the action of seismic loading.

Keywords: Knee-joints, large-scale testing, opening and closing shear stresses, seismic performance

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Authors: Frankie Burgos, Emely Munar, Conrado Basa

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This paper aimed at developing an artificial neural network (ANN) model specifically for the Philippine Stock Exchange index closing value. The inputs to the ANN are US Dollar and Philippine Peso(USD-PHP) exchange rate, GDP growth of the country, quarterly inflation rate, 10-year bond yield, credit rating of the country, previous open, high, low, close values and volume of trade of the Philippine Stock Exchange Index (PSEi), gold price of the previous day, National Association of Securities Dealers Automated Quotations (NASDAQ), Standard and Poor’s 500 (S & P 500) and the iShares MSCI Philippines ETF (EPHE) previous closing value. The target is composed of the closing value of the PSEi during the 627 trading days from November 3, 2011, to May 30, 2014. MATLAB’s Neural Network toolbox was employed to create, train and simulate the network using multi-layer feed forward neural network with back-propagation algorithm. The results satisfactorily show that the neural network developed has the ability to model the PSEi, which is affected by both internal and external economic factors. It was found out that the inputs used are the main factors that influence the movement of the PSEi closing value.

Keywords: artificial neural networks, artificial intelligence, philippine stocks exchange index, stocks trading

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Authors: Zarabizan Zakaria, Syuhaida Ismail, Aminah Md. Yusof

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Project management process starts from the planning stage up to the stage of completion (handover of buildings, preparation of the final accounts and the closing balance). This process is not easy to implement efficiently and effectively. The issue of delays in construction is a major problem for construction projects. These delays have been blamed mainly on inefficient traditional construction practices that continue to dominate the current industry. This is due to several factors, such as environments of construction technology, sophisticated design and customer demands that are constantly changing and influencing, either directly or indirectly, the practice of management. Among the identified influences are physical environment, social environment, information environment, political and moral atmosphere. Therefore, this paper is emerged to determine the problem and issues in the final account closing in construction projects, and it establishes the need to embrace Supply Chain Management (SCM) and then elucidates the need and strategies for the development of a delay reduction framework. At the same time, this paper provides effective measures to avoid or at least reduce the delay to the optimum level. Allowing problems in the closure declaration to occur without proper monitoring and control can leave negative impact on the cost and time of delivery to the end user. Besides, it can also affect the reputation or image of the agency/department that manages the implementation of a contract and consequently may reduce customer's trust towards the agencies/departments. It is anticipated that the findings reported in this paper could address root delay contributors and apply SCM tools for their mitigation for the better development of construction project.

Keywords: final account closing, construction project, construction delay, supply chain management

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Authors: Negar Ganjouhaghighi, Amirali Dolatshahi

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The origin of most risks of a mega project usually takes place in the phases before closing the contract. As a practical point of view, using project risk management techniques for preparing a proposal is not a total solution for managing the risks of a contract. The objective of this paper is to cover all those activities associated with risk management of a mega project sale’s processes; from entrance to a new market to awarding activities and the review of contract performance. In this study, the risk management happens in six consecutive steps that are divided into three distinct but interdependent phases upstream of the award of the contract: pre-tendering, tendering and closing. In the first step, by preparing standard market risk report, risks of the new market are identified. The next step is the bid or no bid decision making based on the previous gathered data. During the next three steps in tendering phase, project risk management techniques are applied for determining how much contingency reserve must be added or reduced to the estimated cost in order to put the residual risk to an acceptable level. Finally, the last step which happens in closing phase would be an overview of the project risks and final clarification of residual risks. The sales experience of more than 20,000 MW turn-key power plant projects alongside this framework, are used to develop a software that assists the sales team to have a better project risk management.

Keywords: project marketing, risk management, tendering, project management, turn-key projects

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Authors: Rafael Ricieri, Rogerio Barros

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Objective: This study is to report a case of massive necrotizing enterocolitis in a six-month-old patient, requiring ileostomy and protective jejunostomy as a damage control measure in the first exploratory laparotomy surgery in massive enterocolitis without a previous diagnosis. Methods: This study is a case report of success in making and closing a protective jejunostomy. However, the low number of publications on this staged and risky measure of surgical resolution encouraged the team to study the indication and especially the correct time for closing the patient's protective jejunostomy. The main study instrument will be the six-month-old patient's medical record. Results: Based on the observation of the case described, it was observed that the time for the closure of the described procedure (protective jejunostomy) varies according to the level of compromise of the health status of your patient and of an individual of each person. Early closure, or failure to close, can lead to a favorable problem for the patient since several problems can result from this closure, such as new intestinal perforations, hydroelectrolyte disturbances. Despite the risk of new perforations, we suggest closing the protective jejunostomy around the 14th day of the procedure, thus keeping the patient on broad-spectrum antibiotic therapy and absolute fasting, thus reducing the chances of new intestinal perforations. Associated with the closure of the jejunostomy, a gastric tube for decompression is necessary, and care in an intensive care unit and electrolyte replacement is necessary to maintain the stability of the case.

Keywords: jejunostomy, ileostomy, enterocolitis, pediatric surgery, gastric surgery

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Authors: Revital Sela-Shayovitz

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There is growing evidence that female rates of criminal nonlethal violent offending have increased during the 1990s. However, the debate regarding whether the gender gap in violence is closing is ongoing. This paper examines the trends in juvenile violent offending in Israel between the years 1996 and 2012. The findings indicate that female-to-male offending rate ratios have increased over time for simple assaults, aggravated assault, and knife crime. Moreover, the closing of the gender gap among youth (ages 12 to 14 years), principally results from the increase in female rates of offending, which is greater than the rise in male rates of offending. These findings are discussed in the context of existing research on the gender gap in the perpetration of violence with reference to future directions in research.

Keywords: gender violence, youth violence, crime rates, juvenile delinquency, crime policy

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Authors: Antoni Wibowo, Harry Pujianto, Dewi Retno Sari Saputro

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The stock market can provide huge profits in a relatively short time in financial sector; however, it also has a high risk for investors and traders if they are not careful to look the factors that affect the stock market. Therefore, they should give attention to the dynamic fluctuations and movements of the stock market to optimize profits from their investment. In this paper, we present a nonlinear autoregressive exogenous model (NARX) to predict the movements of stock market; especially, the movements of the closing price index. As case study, we consider to predict the movement of the closing price in Indonesia composite index (IHSG) and choose the best structures of NARX for IHSG’s prediction.

Keywords: NARX (Nonlinear Autoregressive Exogenous Model), prediction, stock market, time series

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Authors: Mohamad H. Atyeh, Ahmad Khaldi

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The main objective of this research is to measure the relationship between the Kuwait stock Exchange (KSE) index and its two marketing sectors after the new market classification. The findings of this research are important for Public economic policy makers as they need to know if the new system (new classification) is efficient and to what level, to monitor the markets and intervene with appropriate measures. The data used are the daily index of the whole Kuwaiti market and the daily closing price, number of deals and volume of shares traded of two marketing sectors (consumer goods and consumer services) for the period from the 13th of May 2012 till the 12th of December 2016. The results indicate a positive direct impact of the closing price, volume and deals indexes of the consumer goods and the consumer services companies on the overall KSE index, volume and deals of the Kuwaiti stock market (KSE).

Keywords: correlation, market capitalization, Kuwait Stock Exchange (KSE), marketing sectors, stock performance

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Authors: Lindrianasari Stefanie, Aminah Khairudin

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This study aims to provide empirical evidence regarding the ability of Price to Earnings Ratio and PEG Ratio in predicting future stock returns issuers. The samples used in this study are stocks that go into LQ45. The main contribution is to assign empirical evidence if the PEG Ratio can provide optimum return compared to Price to Earnings Ratio. This study used a sample of the entire company into the group LQ45 with the period of observation. The data used is limited to the financial statements of a company incorporated in LQ45 period July 2013-July 2014, using the financial statements and the position of the company's closing stock price at the end of 2010 as a reference benchmark for the growth of the company's stock price compared to the closing price of 2013. This study found that the method of PEG Ratio can outperform the method of PE ratio in predicting future returns on the stock portfolio of LQ45.

Keywords: price to earnings growth, price to earnings ratio, future returns, stock price

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Authors: Aleksandra Ristic

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The Coronavirus Disease – 2019 hit Europe in February 2020, and infections took place in four waves. It left consequences and demanded changes for the future. More than half of European countries responded quickly by declaring a state of emergency and introducing various containment measures that have had a major impact on individuals’ lives in recent years. Closing public lives was largely achieved by limited access and/or closing public institutions and services, including the closure of educational institutions. Teaching in classrooms converted to distance learning. In the research, we used a quantitative study to analyze various factors of distance learning that influenced pupils in different segments: teachers’ availability, family support, entire online conference learning, successful distance learning, time for themselves, reliable sources, teachers’ feedback, successful distance learning, online participation classes, motivation and teachers’ communication and theoretical review of the importance of digital skills, e-learning Index, World comparison of e-learning in the past, digital education plans for the field of Europe. We have gathered recommendations and distance learning solutions to improve the learning process by strengthening teachers and creating more tiered strategies for setting and achieving learning goals by the children.

Keywords: availability, digital skills, distance learning, resources

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Authors: Jayakrishnan U.

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A concept of adding two strokes to a four stroke Otto or Diesel engine cycle presented here for the waste heat recovery in a four stroke internal combustion engine. Four stroke Diesel cycle and Otto cycle engines have very low thermal efficiency due to high amount of energy loss in exhaust and also on the cooling of the engine. It is estimated about 35 percent of fuel energy is lost in exhaust of engine and 30 percent in cooling of engine. So by modifying a four-stroke Otto or Diesel engine by adding two-stroke heat recovery steam cycle is presented here. Water injection is used to get an additional power stroke by partial compression of the exhaust gases at the end of third stroke in a four stroke I.C.Engine. It is the conversion of a four-stroke cycle to a six-stroke cycle. By taking a four stroke petrol engine of known dimensions, an ideal thermodynamic model is used to analyse and calculate the events of exhaust gas compression and following two strokes of water injection. By changing the exhaust valve closing timing during exhaust stroke and analysing it on various points, an optimum amount of exhaust gas re-compression and amount of water injection can be found for maximizing efficiency and fuel economy. It is achieved by changing the exhaust valve timing and finding an optimum amount of exhaust re-compression, maximizing the net mean effective pressure of the steam expansion stroke (MEPsteam). Specific fuel consumption of the engine also decreases increasing the fuel economy. The valve closing timings for maximum MEPsteam is limited by either 1 bar or dew point temperature of expansion gas or moisture mixture to avoid moisture formation. By modifying the four-stroke Otto or Diesel cycle by adding two water injection stroke has the potential to significantly increase the engine efficiency and fuel economy.

Keywords: internal combustion engine, engine efficiency, six-stroke cycle, water injection, specific fuel consumption

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Authors: Arlene Caney, Linda Fellag

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To counter the adverse effect of Covid-19 on college student success, two faculty members at a US community college have used web-based assessment data to improve curricula and, thus, student outcomes. This case study exemplifies how “closing the loop” by analyzing outcome assessments in real time can improve student learning for academically underprepared students struggling during the pandemic. The purpose of the study was to develop ways to mitigate the negative impact of Covid-19 on student success of underprepared college students. Using the Assessment, Evaluation, Feedback and Intervention System (AEFIS) and other assessment tools provided by the college’s Office of Institutional Research, an English professor and a Music professor collected data in skill areas related to their curricula over four semesters, gaining insight into specific course sections and learners’ performance across different Covid-driven course formats—face-to-face, hybrid, synchronous, and asynchronous. Real-time data collection allowed faculty to shorten and close the assessment loop, and prompted faculty to enhance their curricula with engaging material, student-centered activities, and a variety of tech tools. Frequent communication, individualized study, constructive criticism, and encouragement were among other measures taken to enhance teaching and learning. As a result, even while student success rates were declining college-wide, student outcomes in these faculty members’ asynchronous and synchronous online classes improved or remained comparable to student outcomes in hybrid and face-to-face sections. These practices have demonstrated that even high-risk students who enter college with remedial level language and mathematics skills, interrupted education, work and family responsibilities, and language and cultural diversity can maintain positive outcomes in college across semesters, even during the pandemic.

Keywords: AEFIS, assessment, distance education, institutional research center

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Authors: Miriam Itzkowitz, Katie Olson

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Through an interdisciplinary and trauma-responsive lens, this article reviews the legal and social history of mandated reporting laws and family separation, examines the ethical conundrum of mandated reporting as it relates to evidence-based practice, and discusses alternatives to mandated reporting as a primary prevention strategy. Using existing and emerging data, the authors argue that mandated reporting as a universal strategy contributes to racial disproportionality in the child welfare system and that anti-racist practices should begin with an examination of our reliance on mandated reporting.

Keywords: child welfare, education, mandated reporting, racial disproportionality, trauma

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Authors: Dorra Kallel, Ines Kanoun, Diala Dhouib

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This paper elaborates a Systematic Literature Review SLR) to select the most outstanding studies that address the Menu Planning Problem (MPP) and to classify them according to the to the three following criteria: the used methods, types of patients and the required constraints. At first, a set of 4165 studies was selected. After applying the SLR’s guidelines, this collection was filtered to 13 studies using specific inclusion and exclusion criteria as well as an accurate analysis of each study. Second, the selected papers were invested to answer the proposed research questions. Finally, data synthesis and new perspectives for future works are incorporated in the closing section.

Keywords: Menu Planning Problem (MPP), Systematic Literature Review (SLR), classification, exact and approaches methods

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Authors: S. Mohammadzamani, B. Kordi

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Wireless electric field sensors are in high demand in the number of applications that requires measuring electric field such as investigations of high power systems and testing the high voltage apparatus. Passive wireless electric field sensors are most desired since they do not require a source of power and are interrogated wirelessly. A passive wireless electric field sensor has been designed and fabricated by our research group. In the wireless interrogation system of the sensor, a wireless radio frequency impulse generator needs to be employed. A compact wireless impulse generator composed of an integrated resonant switched oscillator (SWO) and a pulse-radiating antenna has been designed and fabricated in this research. The fundamental of Switched Oscillators was introduced by C.E.Baum. A Switched Oscillator consists of a low impedance transmission line charged by a DC source, through large impedance at desired frequencies and terminated to a high impedance antenna at one end and a fast closing switch at the other end. Once the line is charged, the switch will close and short-circuit the transmission line. Therefore, a fast transient wave will be generated and travels along the transmission line. Because of the mismatch between the antenna and the transmission line, only a part of fast transient wave will be radiated, and a portion of the fast-transient wave will reflect back. At the other end of the transmission line, there is a closed switch. Consequently, a second reflection with a reversed sign will propagate towards the antenna and the wave continues back and forth. hence, at the terminal of the antenna, there will be a series of positive and negative pulses with descending amplitude. In this research a single ended quarter wavelength Switched Oscillator has been designed and simulated at 800MHz. The simulation results show that the designed Switched Oscillator generates pulses with decreasing amplitude at the frequency of 800MHz with the maximum amplitude of 10V and bandwidth of about 10MHz at the antenna end. The switched oscillator has been fabricated using a 6cm long coaxial cable transmission line which is charged by a DC source and an 8cm monopole antenna as the pulse radiating antenna. A 90V gas discharge switch has been employed as the fast closing switch. The Switched oscillator sends a series of pulses with decreasing amplitude at the frequency of 790MHz with the maximum amplitude of 0.3V in the distance of 30 cm.

Keywords: electric field measurement, impulse radiating antenna, switched oscillator, wireless impulse generator

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Authors: Erkan Talay, Mustafa Yigit Yagci

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For the systems like sliding door, designers should predict not only strength but also dynamic behavior of the system and this prediction usually becomes more critical if design has radical changes refer to previous designs. Also, sometimes physical tests could cost more than expected, especially for rail geometry changes, since this geometry affects design of the body. The aim of the study is to observe and understand the dynamics of the sliding door in virtual environment. For this, multibody dynamic model of the sliding door was built and then affects of various parameters like rail geometry, roller diameters, or center of mass detected. Also, a design of experiment study was performed to observe interactions of these parameters.

Keywords: design of experiment, minimum closing effort, multibody simulation, sliding door

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Authors: Laura Victoria Vigoya Morales, David Rolando Suarez Mora

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The problem of detecting enterococcus faecalis is receiving considerable attention with the new cases of beachgoers infected with the bacteria, which can be found in fecal matter. The process detection of this kind of bacteria would be taking a long time, which waste time and money as a result of closing recreation place, like beach or pools. Hence, new methods for automating the process of detecting and recognition of this bacteria has become in a challenge. This article describes a novel approach to detect the enterococcus faecalis bacteria in water by using an octave algorithm, which embody a network neural. This document shows result of performance, quality and integrity of the algorithm.

Keywords: Enterococcus faecalis, image treatment, octave and network neuronal

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Authors: A. J. Regan, F. J. Lidgey, M. Betteridge, P. Georgiou, C. Toumazou, K. Hayatleh, J. R. Dibble

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Our goal is development of an algorithm capable of predicting the directional trend of the Standard and Poor’s 500 index (S&P 500). Extensive research has been published attempting to predict different financial markets using historical data testing on an in-sample and trend basis, with many authors employing excessively complex mathematical techniques. In reviewing and evaluating these in-sample methodologies, it became evident that this approach was unable to achieve sufficiently reliable prediction performance for commercial exploitation. For these reasons, we moved to an out-of-sample strategy based on linear regression analysis of an extensive set of financial data correlated with historical closing prices of the S&P 500. We are pleased to report a directional trend accuracy of greater than 55% for tomorrow (t+1) in predicting the S&P 500.

Keywords: financial algorithm, GPU, S&P 500, stock market prediction

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Authors: A. Roomy

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The dramatic rise in violence against game officials has affected all levels of sports including recreational, amateur, and professional sports. One way to combat this rise in violence is through the creation of laws specifically aimed at preventing and punishing this kind of violence. This paper will use related legal cases as a starting point to explore possible ways of better protecting the safety of game officials. It will do this by looking at relevant cases, related legal issues, and two specific ways of reducing violence against game officials. In closing, it will be argued that there needs to be a more robust legal approach with emphasis on criminal and civil penalties for assault and battery, and a more comprehensive social approach with emphasis on raising social awareness on the need to protect game officials from violence.

Keywords: game officials, legal issues, safety, violence

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Authors: Michael Barker

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Men’s rights activists are largely antifeminism. Evaluation of men’s rights discourses, however, shows that men’s rights’ goals would be better achieved by working with feminism. Discussion of men’s rights discourses, though, is prone to confusion because there is no commonly used men’s rights language. In the presentation ‘male sexism’, ‘matriarchy’ and ‘masculism’ will be unpacked as part of a suggested men’s rights language. Once equipped with a men’s rights vocabulary, sustained philosophical assessment of the extent to which several categories of male disadvantages are wrongful will be offered. Following this, conditions that cause each category of male sexism will be discussed. It shall be argued that male sexism is caused more so by matriarchy than by patriarchy or by feminism. In closing, the success at which various methods address the categories of male sexism will be contrasted. Ultimately, it will be shown that male disadvantages are addressed more successfully by methods that work with, than against, feminism.

Keywords: gender studies, feminism, patriarchy, men’s rights, male sexism, matriarchy, masculism

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Authors: Matthew J. B. Wilson

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Disaster Risk Reduction relies heavily on the effective cooperation of both humanitarian and development actors, particularly in the wake of a disaster, implementing lasting recovery measures that better protect communities from disasters to come. This can be seen to fit within a broader discussion around integrating humanitarian and development work stretching back to the 1980s. Over time, a number of key concepts have been put forward, including Linking Relief, Rehabilitation, and Development (LRRD), Early Recovery (ER), ‘Build Back Better’ (BBB), and the most recent ‘Humanitarian-Development-Peace Nexus’ or ‘Triple Nexus’ (HDPN) to define these goals and relationship. While this discussion has evolved greatly over time, from a continuum to a more integrative synergistic relationship, there remains a lack of consensus around how to describe it, and as such, the reality of effectively closing this gap has yet to be seen. The objective of this research was twofold. First, to map these four identified concepts (LRRD, ER, BBB & HDPN) used in the literature since 1995 to understand the overall trends in how this relationship is discussed. Second, map articles reference a combination of these concepts to understand their interrelationship. A scoping review was conducted for each concept identified. Results were gathered from Google Scholar by firstly inputting specific boolean search phrases for each concept as they related specifically to disasters each year since 1995 to identify the total number of articles discussing each concept over time. A second search was then done by pairing concepts together within a boolean search phrase and inputting the results into a matrix to understand how many articles contained references to more than one of the concepts. This latter search was limited to articles published after 2017 to account for the more recent emergence of HDPN. It was found that ER and particularly BBB are referred to much more widely than LRRD and HDPN. ER increased particularly in the mid-2000’s coinciding with the formation of the ER cluster, and BBB, whilst emerging gradually in the mid-2000s due to its usage in the wake of the Boxing Day Tsunami, increased significantly from about 2015 after its prominent inclusion in Sendai Framework. HDPN has only just started to increase in the last 4-5 years. In regards to the relationship between concepts, it was found the vast majority of all concepts identified were referred to in isolation from each other. The strongest relationship was between LRRD and HDPN (8% of articles referring to both), whilst ER-BBB and ER-HDPN both were about 3%, LRRD-ER 2%, and BBB-HDPN 1% and BBB-LRRD 1%. This research identified a fundamental issue around the lack of consensus and even awareness of different approaches referred to within academic literature relating to integrating humanitarian and development work. More research into synthesizing and learning from a range of approaches could work towards better closing this gap.

Keywords: build back better, disaster risk reduction, early recovery, linking relief rehabilitation and development, humanitarian development integration, humanitarian-development (peace) nexus, recovery, triple nexus

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Authors: Jeryes Danial, Yosi Ben Asher

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Algorithms for controlling a swarm of robots is an active research field, out of which cattle herding is one of the most complex problems to solve. In this paper, we derive an independent herding algorithm that is specifically designed for a swarm of quadcopters. The algorithm works by devising flight trajectories that cause the cows to run-away in the desired direction and hence herd cows that are distributed in a given field towards a common gathering point. Unlike previously proposed swarm herding algorithms, this algorithm does not use a flocking model but rather stars each cow separately. The effectiveness of this algorithm is verified experimentally using a simulator. We use a special set of experiments attempting to demonstrate that the herding times of this algorithm correspond to field diameter small constant regardless of the number of cows in the field. This is an optimal result indicating that the algorithm groups the cows into intermediate groups and herd them as one forming ever closing bigger groups.

Keywords: swarm, independent, distributed, algorithm

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Authors: Ahmed Al-Sultan

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The check-in area of airport terminal is one of the busiest sections at airports at certain periods. The passengers are subjected to queues and delays during the check-in process. These delays and queues are due to constraints in the capacity of service facilities. In this project, the airport terminal is decomposed into several check-in areas. The airport check-in scheduling problem requires both a deterministic (integer programming) and stochastic (simulation) approach. Integer programming formulations are provided to minimize the total number of counters in each check-in area under the realistic constraint that counters for one and the same flight should be adjacent and the desired number of counters remaining in each area should be fixed during check-in operations. By using simulation, the airport system can be modeled to study the effects of various parameters such as number of passengers on a flight and check-in counter opening and closing time.

Keywords: airport terminal, integer programming, scheduling, simulation

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Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

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This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

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Authors: Ying Guo, Miaochan Li, David Yang, Xiao-Yan Li

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This paper examines the relevance of accounting information to stock prices at different periods using manufacturing companies listed in China’s Growth Enterprise Market (GEM). We find that both the average stock price at fiscal year-end and the average stock price one month after fiscal year-end are more relevant to the accounting information than the closing stock price four months after fiscal year-end. This implies that Chinese stock markets react before the public disclosure of accounting information, which may be due to information leak before official announcements. Our findings confirm that accounting information is relevant to stock prices for Chinese listed manufacturing companies, which is a critical question to answer for investors who have interest in Chinese companies.

Keywords: accounting information, response time, value relevance, stock price

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Authors: Piotr Fiszeder, Marcin Fałdziński, Peter Molnár

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The dynamic conditional correlation model of Engle (2002) is one of the most popular multivariate volatility models. However, this model is based solely on closing prices. It has been documented in the literature that the high and low price of the day can be used in an efficient volatility estimation. We, therefore, suggest a model which incorporates high and low prices into the dynamic conditional correlation framework. Empirical evaluation of this model is conducted on three datasets: currencies, stocks, and commodity exchange-traded funds. The utilisation of realized variances and covariances as proxies for true variances and covariances allows us to reach a strong conclusion that our model outperforms not only the standard dynamic conditional correlation model but also a competing range-based dynamic conditional correlation model.

Keywords: volatility, DCC model, high and low prices, range-based models, covariance forecasting

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Authors: Dmitry V. Fomichev, Vladimir V. Solonin

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This paper presents the findings from a numerical simulation of the flow in 37-rod fuel assembly models spaced by a double-wire trapezoidal wrapping as applied to the BREST-OD-300 experimental nuclear reactor. Data on a high static pressure distribution within the models, and equations for determining the fuel bundle flow friction factors have been obtained. Recommendations are provided on using the closing turbulence models available in the ANSYS Fluent. A comparative analysis has been performed against the existing empirical equations for determining the flow friction factors. The calculated and experimental data fit has been shown. An analysis into the experimental data and results of the numerical simulation of the BREST-OD-300 fuel rod assembly hydrodynamic performance are presented.

Keywords: BREST-OD-300, ware-spaces, fuel assembly, computation fluid dynamics

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Authors: Yuzhi Cai

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

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

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Authors: Karishma Kashyap, Subha D. Parida

Abstract:

Rapid population growth and urbanization is creating pressure throughout the world. This has a dramatic effect on a lot of elements which include water, food, transportation, energy, infrastructure etc. as few of the key services. Built environment sector is growing concurrently to meet the needs of urbanization. Due to such large scale development of buildings, there is a need for them to be monitored and managed efficiently. Along with appropriate management, climate adaptation is highly crucial as well because buildings are one of the major sources of greenhouse gas emission in their operation phase. Buildings to be adaptive need to provide a triple bottom approach to sustainability i.e., being socially, environmentally and economically sustainable. Hence, in order to deliver these sustainability outcomes, there is a growing understanding and thrive towards switching to green buildings or renovating new ones as per green standards wherever possible. Academic institutions in particular have been following this trend globally. This is highly significant as universities usually have high occupancy rates because they manage a large building portfolio. Also, as universities accommodate the future generation of architects, policy makers etc., they have the potential of setting themselves as a best industry practice model for research and innovation for the rest to follow. Hence their climate adaptation, sustainable growth and performance management becomes highly crucial in order to provide the best services to users. With the objective of evaluating appropriate management mechanisms within academic institutions, a feasibility study was carried out in a recent 5-Star Green Star rated university building (housing the School of Construction) in Victoria (south-eastern state of Australia). The key aim was to understand the behavioral and social aspect of the building users, management and the impact of their relationship on overall building sustainability. A survey was used to understand the building occupant’s response and reactions in terms of their work environment and management. A report was generated based on the survey results complemented with utility and performance data which were then used to evaluate the management structure of the university. Followed by the report, interviews were scheduled with the facility and asset managers in order to understand the approach they use to manage the different buildings in their university campuses (old, new, refurbished), respective building and parameters incorporated in maintaining the Green Star performance. The results aimed at closing the communication and feedback loop within the respective institutions and assist the facility managers to deliver appropriate stakeholder engagement. For the wider design community, analysis of the data highlights the applicability and significance of prioritizing key stakeholders, integrating desired engagement policies within an institution’s management structures and frameworks and their effect on building performance

Keywords: building optimization, green building, post occupancy evaluation, stakeholder engagement

Procedia PDF Downloads 357

Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

Abstract:

We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

Procedia PDF Downloads 167