Search results for: credit default swap (CDS)

Authors: G. Sarwar, C. Mateus, N. Todorovic

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The paper examines the asymmetries in size, value and momentum premium over the economic cycles in the UK and their macroeconomic determinants. Using Markov switching approach we find clear evidence of cyclical variations of the three premiums, most noticeably variations in size premium. We associate Markov switching regime 1 with economic upturn and regime 2 with economic downturn as per OECD’s Composite Leading Indicator. The macroeconomic indicators prompting such cyclicality the most are interest rates, term structure and credit spread. The role of GDP growth, money supply and inflation is less pronounced in our sample.

Keywords: macroeconomic determinants, Markorv Switching, size, value

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Authors: H. E. Amolo

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The concepts of pollution or contamination and purification or ritual cleansing are very important concepts among traditional Africans. This is because in relation to human behaviors and attitudes, they constitute on the one hand what could be referred to as moral demands and on the other, what results in the default of such demands. The many taboos which a man has to observe are not to be regarded as things mechanical which do not touch the heart, but that the avoidance is a sacred law respected by the community. In breaking it, you offend the divine power’. Researches have shown that, Africans tenaciously hold the belief that, moral values are based upon the recognition of the divine will and that sin in the community must be expelled if perfect peace is to be enjoyed. Sadly enough, these moral values are gradually eroding in contemporary times. Thus, this study proposal calls for a survey of the passage from an African cultural context; how it can enhance the understanding of the text, as well as how it can complement its scholarly interpretation with the view of institutionalizing the concept of holiness as a means of bringing the people closer to God, and also instilling ethical purity and righteousness.

Keywords: cultural practices, Igbo ideology, purification, rituals

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Authors: Hrvoje Simovic

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Paper analyses the key problems of fiscal sustainability in Croatia. To point out key challenges of fiscal sustainability, the public debt sustainability is analyzed using standard indicators of fiscal stability, accompanied with the identification of regime changes approach in the public debt trajectory using switching regression approach. The analysis is conducted for the period from 2001 to 2016. Results show huge vulnerability in recession period (2009-14), so key challenges in current fiscal policy and public debt management are recognized in maturity prolongation, interest rates trends, and credit rating expectations.

Keywords: fiscal sustainability, public debt, Croatia, budget deficit

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Authors: Laura O’Halloran, Zhipeng Cao, Clare M. Kelly, Hugh Garavan, Robert Whelan

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Reaction time (RT) variability on cognitive tasks provides the index of the efficiency of executive control processes (e.g. attention and inhibitory control) and is considered to be a hallmark of clinical disorders, such as attention-deficit disorder (ADHD). Increased RT variability is associated with structural and functional brain differences in children and adults with various clinical disorders, as well as poorer task performance accuracy. Furthermore, the strength of functional connectivity across various brain networks, such as the negative relationship between the task-negative default mode network and task-positive attentional networks, has been found to reflect differences in RT variability. Although RT variability may provide an index of attentional efficiency, as well as being a useful indicator of neurological impairment, the brain substrates associated with RT variability remain relatively poorly defined, particularly in a healthy sample. Method: Firstly, we used the intra-individual coefficient of variation (ICV) as an index of RT variability from “Go” responses on the Stop Signal Task. We then examined the functional and structural neural correlates of ICV in a large sample of 14-year old healthy adolescents (n=1719). Of these, a subset had elevated symptoms of ADHD (n=80) and was compared to a matched non-symptomatic control group (n=80). The relationship between brain activity during successful and unsuccessful inhibitions and gray matter volume were compared with the ICV. A mediation analysis was conducted to examine if specific brain regions mediated the relationship between ADHD symptoms and ICV. Lastly, we looked at functional connectivity across various brain networks and quantified both positive and negative correlations during “Go” responses on the Stop Signal Task. Results: The brain data revealed that higher ICV was associated with increased structural and functional brain activation in the precentral gyrus in the whole sample and in adolescents with ADHD symptoms. Lower ICV was associated with lower activation in the anterior cingulate cortex (ACC) and medial frontal gyrus in the whole sample and in the control group. Furthermore, our results indicated that activation in the precentral gyrus (Broadman Area 4) mediated the relationship between ADHD symptoms and behavioural ICV. Conclusion: This is the first study first to investigate the functional and structural correlates of ICV collectively in a large adolescent sample. Our findings demonstrate a concurrent increase in brain structure and function within task-active prefrontal networks as a function of increased RT variability. Furthermore, structural and functional brain activation patterns in the ACC, and medial frontal gyrus plays a role-optimizing top-down control in order to maintain task performance. Our results also evidenced clear differences in brain morphometry between adolescents with symptoms of ADHD but without clinical diagnosis and typically developing controls. Our findings shed light on specific functional and structural brain regions that are implicated in ICV and yield insights into effective cognitive control in healthy individuals and in clinical groups.

Keywords: ADHD, fMRI, reaction-time variability, default mode, functional connectivity

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Authors: Olfa Kaabia, Ilyes Abid, Khaled Guesmi

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This pioneer paper studies whether and how Bitcoin shocks are transmitted to the U.S economy. We employ a new methodology: TVP FAVAR model with stochastic volatility. We use a large dataset of 111 major U.S variables from 1959:m1 to 2016:m12. The results show that Bitcoin shocks significantly impact the U.S. economy. This significant impact is pronounced in a volatile and increasing U.S economy. The Bitcoin has a positive relationship on the U.S real activity, and a negative one on U.S prices and interest rates. Effects on the Monetary Policy exist via the inter-est rates and the Money, Credit and Finance transmission channels.

Keywords: bitcoin, US economy, FAVAR models, stochastic volatility

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Authors: I. M. L. Nadeesha Jayaweera, Adao Alex Trindade

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In choosing a candidate model in likelihood-based modeling via an information criterion, the practitioner is often faced with the difficult task of deciding just how far up the ranked list to look. Motivated by this pragmatic necessity, we construct an uncertainty band for a generalized (model selection) information criterion (GIC), defined as a criterion for which the limit in probability is identical to that of the normalized log-likelihood. This includes common special cases such as AIC & BIC. The method starts from the asymptotic normality of the GIC for the joint distribution of the candidate models in an independent and identically distributed (IID) data framework and proceeds by deriving the (asymptotically) exact distribution of the minimum. The calculation of an upper quantile for its distribution then involves the computation of multivariate Gaussian integrals, which is amenable to efficient implementation via the R package "mvtnorm". The performance of the methodology is tested on simulated data by checking the coverage probability of nominal upper quantiles and compared to the bootstrap. Both methods give coverages close to nominal for large samples, but the bootstrap is two orders of magnitude slower. The methodology is subsequently extended to two other commonly used model structures: regression and time series. In the regression case, we derive the corresponding asymptotically exact distribution of the minimum GIC invoking Lindeberg-Feller type conditions for triangular arrays and are thus able to similarly calculate upper quantiles for its distribution via multivariate Gaussian integration. The bootstrap once again provides a default competing procedure, and we find that similar comparison performance metrics hold as for the IID case. The time series case is complicated by far more intricate asymptotic regime for the joint distribution of the model GIC statistics. Under a Gaussian likelihood, the default in most packages, one needs to derive the limiting distribution of a normalized quadratic form for a realization from a stationary series. Under conditions on the process satisfied by ARMA models, a multivariate normal limit is once again achieved. The bootstrap can, however, be employed for its computation, whence we are once again in the multivariate Gaussian integration paradigm for upper quantile evaluation. Comparisons of this bootstrap-aided semi-exact method with the full-blown bootstrap once again reveal a similar performance but faster computation speeds. One of the most difficult problems in contemporary statistical methodological research is to be able to account for the extra variability introduced by model selection uncertainty, the so-called post-model selection inference (PMSI). We explore ways in which the GIC uncertainty band can be inverted to make inferences on the parameters. This is being attempted in the IID case by pivoting the CDF of the asymptotically exact distribution of the minimum GIC. For inference one parameter at a time and a small number of candidate models, this works well, whence the attained PMSI confidence intervals are wider than the MLE-based Wald, as expected.

Keywords: model selection inference, generalized information criteria, post model selection, Asymptotic Theory

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Authors: Issa Hussein Manita

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This paper presents an example of industrial information system design and implementation (IIDC), the most common software engineering design steps that are applied to the different design stages. We are going through the life cycle of software system development. We start by a study of system requirement and end with testing and delivering system, going by system design and coding, program integration and system integration step. The most modern software design tools available used in the design this includes, but not limited to, Unified Modeling Language (UML), system modeling, SQL server side application, uses case analysis, design and testing as applied to information processing systems. The system is designed to perform tasks specified by the client with real data. By the end of the implementation of the system, default or user defined acceptance policy to provide an overall score as an indication of the system performance is used. To test the reliability of he designed system, it is tested in different environment and different work burden such as multi-user environment.

Keywords: software engineering, design, system requirement, integration, unified modeling language

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Authors: Trupti Diwan

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Predicting student failure at school has changed into a difficult challenge due to both the large number of factors that can affect the reduced performance of students and the imbalanced nature of these kinds of data sets. This paper surveys the two elements needed to make prediction on Students’ Academic Performances which are parameters and methods. This paper also proposes a framework for predicting the performance of engineering students. Genetic programming can be used to predict student failure/success. Ranking algorithm is used to rank students according to their credit points. The framework can be used as a basis for the system implementation & prediction of students’ Academic Performance in Higher Learning Institute.

Keywords: classification, educational data mining, student failure, grammar-based genetic programming

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Authors: O. Behar, A. Khellaf, K. Mohammedi, S. Ait Kaci

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Up to now, most validation studies have been based on the MBE and RMSE, and therefore, focused only on long and short terms performance to test and classify solar radiation models. This traditional analysis does not take into account the quality of modeling and linearity. In our analysis we have tested 22 solar radiation models that are capable to provide instantaneous direct and global radiation at any given location Worldwide. We introduce a new indicator, which we named Global Accuracy Indicator (GAI) to examine the linear relationship between the measured and predicted values and the quality of modeling in addition to long and short terms performance. Note that the quality of model has been represented by the T-Statistical test, the model linearity has been given by the correlation coefficient and the long and short term performance have been respectively known by the MBE and RMSE. An important founding of this research is that the use GAI allows avoiding default validation when using traditional methodology that might results in erroneous prediction of solar power conversion systems performances.

Keywords: solar radiation model, parametric model, performance analysis, Global Accuracy Indicator (GAI)

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Authors: Yongsheng Guo, Mengyu Lu

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This study investigates how Chinese SMEs manage financial risks in customer financing. 32 interviews were conducted, and grounded theory models were developed to link the causal conditions, actions, and consequences. This study found that Chinese ethical principles, including integrity, friendship, reciprocity, and cultural traits, including collectivism, acquaintance society, and long-term orientation, provide conditions for customer financing. The SMEs establish trust-based relationships with customers and build a social network. The SMEs reduce financial risk through diversification, frequent operations and enterprise reputations. Both customers and SMEs can get benefits, including customer experience and financial rewards for customers and financial resources and customer base for SMEs. But there are some problems, like default for customers and financial cost for enterprises. This study develops a resource and process capability theory of SMEs and a customer capital and customer value theory to connect finance, accounting, and management concepts.

Keywords: CRM, culture, ethics, financing from customer, SME

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Authors: Sayyed Abdolmajid Jalaee Esfand Abadi, Sepideh Samimi

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Since one of the major difficulties to develop small manufacturing enterpriser in developing countries is the limitations of financing activities, this paper want to answer the question: “what is the role and status of micro finance in improving the labor productivity of small industries in Iran?” The results of panel data estimation show that micro finance in Iran has not yet been able to work efficiently and provide the required credit and investment. Also, reducing economy’s dependence on oil revenues reduced and increasing its reliance on domestic production and exports of industrial production can increase the productivity of workforce in Iranian small industries.

Keywords: microfinance, small manufacturing enterprises (SME), workforce productivity, Iran, panel data

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Authors: Mohsen Maadani, Seyed Ahmad Motamedi

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The use of wireless technology in industrial networks has gained vast attraction in recent years. In this paper, we have thoroughly analyzed the effect of contention window (CW) size on the performance of IEEE 802.11-based industrial wireless networks (IWN), from delay and reliability perspective. Results show that the default values of CWmin, CWmax, and retry limit (RL) are far from the optimum performance due to the industrial application characteristics, including short packet and noisy environment. An adaptive CW algorithm (payload-dependent) has been proposed to minimize the average delay. Finally a simple, but effective CW and RL setting has been proposed for industrial applications which outperforms the minimum-average-delay solution from maximum delay and jitter perspective, at the cost of a little higher average delay. Simulation results show an improvement of up to 20%, 25%, and 30% in average delay, maximum delay and jitter respectively.

Keywords: average delay, contention window, distributed coordination function (DCF), jitter, industrial wireless network (IWN), maximum delay, reliability, retry limit

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Authors: Weldegerima Gebremedhin Hagos

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Background: The Coronavirus disease of 2019 (COVID-19) is a catastrophic emerging global health threat caused by the severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2). COVID-19 has a wide range of complications and sequels. It is devastating in developing countries, causing serious health and socioeconomic crises as a result of the increasingly overburdened healthcare system. Ethiopia reported the first case of SARS-CoV-2 on 13th March 2020, with community transmission ensuing by mid-May. The aim of this study was conducted to determine the prevalence of SARS-CoV-2 infection in Tigray, Ethiopia. Methods: Facility-based correctional study designs were used on a total of 380 study participants from March 2023 up to May 2023 in two general hospitals and one comprehensive specialized hospital in Tigray, Ethiopia. A pre-structured questionnaire was used to assess information regarding the socio-demographic, clinical data and other risk factors. A nasal swap was taken by trained health professionals, and the laboratory analysis was done by RT-PCR (quant studio 7-flex, applied biosystems) in Tigrai Health Research Institute and Mekelle University Medical Microbiology Research Laboratory. Result: The mean age of the study participants was 31 (SD+/-3.5) years, with 65% being male and 35% female. The overall seropositivity of sars-cov-2 among the study participants was 5.5%. The prevalence was higher in males (6.2%) than females which were (4.7%). Sars-cov-2 infection was significantly associated with a history of lack of vaccination (p-value 0.002). There was no significant association between seropositivity and demographic factors (P > 0.05). Conclusion: The seroprevalence of SARS-CoV-2 among the study participants is high. Those study participants with a previous history of vaccination have a low probability of developing COVID-19 infection. A low SARS-CoV-2 infection rate was recorded in those who frequently use masks.

Keywords: prevalence, SARS-CoV-2, infection, risk factors

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Authors: Hannele Kuusisto, Paivi Makila, Ursula Hyrkkanen

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Introduction: There have been arguments about the skills university students should have when graduated. Current trends argue that as well as the specific job-related skills the graduated students need problem-solving, interaction and networking skills as well as self-management skills. Skills required in working life are also considered in the Finnish national project called VALTE (short for 'prepared for working life'). The project involves 11 Finnish school organizations. As one result of this project, a five-credit independent online course in study and job engagement as well as in study and job crafting was developed at Turku University of Applied Sciences. The aim of the oral or e-poster presentation is to present the online course developed in the project. The purpose of this abstract is to present the development work of the online course and the feedback received from the pilots. Method: As the University of Turku is the leading partner of the VALTE project, the collaborative education platform ViLLE (https://ville.utu.fi, developed by the University of Turku) was chosen as the online platform for the course. Various exercise types with automatic assessment were used; for example, quizzes, multiple-choice questions, classification exercises, gap filling exercises, model answer questions, self-assessment tasks, case tasks, and collaboration in Padlet. In addition, the free material and free platforms on the Internet were used (Youtube, Padlet, Todaysmeet, and Prezi) as well as the net-based questionnaires about the study engagement and study crafting (made with Webropol). Three teachers with long teaching experience (also with job crafting and online pedagogy) and three students working as trainees in the project developed the content of the course. The online course was piloted twice in 2017 as an elective course for the students at Turku University of Applied Sciences, a higher education institution of about 10 000 students. After both pilots, feedback from the students was gathered and the online course was developed. Results: As the result, the functional five-credit independent online course suitable for students of different educational institutions was developed. The student feedback shows that students themselves think that the developed online course really enhanced their job and study crafting skills. After the course, 91% of the students considered their knowledge in job and study engagement as well as in job and study crafting to be at a good or excellent level. About two-thirds of the students were going to exploit their knowledge significantly in the future. Students appreciated the variability and the game-like feeling of the exercises as well as the opportunity to study online at the time and place they chose themselves. On a five-point scale (1 being poor and 5 being excellent), the students graded the clarity of the ViLLE platform as 4.2, the functionality of the platform as 4.0 and the easiness of operating as 3.9.

Keywords: job crafting, job engagement, online course, study crafting, study engagement

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Authors: Jisun Mo, Paola Boarin

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The impact of common buildings on climate and environment has prompted people to get involved in the green building standards aimed at implementing rating tools or certifications. Thus, green building rating systems were introduced to the construction industry, and the demand for certified green buildings has increased gradually and succeeded considerably in enhancing people’s environmental awareness. However, the existing certification process has been unsatisfactory in attracting stakeholders and/or professionals who are actively engaged in adopting a rating system. It is because they have faced recurring barriers regarding limited information in understanding the rating process, time-consuming procedures and higher costs, which have a direct influence on pursuing green building rating systems. To promote the achievement of green building certifications within the building industry more successfully, this paper aims at designing a Pre-Assessment Tool (PAT) framework that can help stakeholders and/or professionals engaged in the construction industry to clarify their basic knowledge, timeframe and extra costs needed to activate a green building certification. First, taking the first steps towards the rating tool seems to be complicated because of upfront commitment to understanding the overall rating procedure is required. This conceptual PAT framework can increase basic knowledge of the rating tool and the certification process, mainly in terms of all resources or information of each credit requirements. Second, the assessment process of rating tools is generally known as a “lengthy and time-consuming system”, contributing to unenthusiastic reactions concerning green building projects. The proposed framework can predict the timeframe needed to identify how long it will take for a green project to process each credit requirement and the documentation required from the beginning of the certification process to final approval. Finally, most people often have the initial perception that pursuing green building certification costs more than constructing a non-green building, which makes it more difficult to execute rating tools. To overcome this issue, this PAT will help users to estimate the extra expenses such as certification fees and third-party contributions based on the track of the amount of time it takes to implement the rating tool throughout all the related stages. Also, it can prevent unexpected or hidden costs occurring in the process of assessment. Therefore, this proposed PAT framework can be recommended as an effective method to support the decision-making of inexperienced users and play an important role in promoting green building certification.

Keywords: green building rating tools, Pre-Occupancy Evaluation (PrOE), client’s decision-making, certification

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Authors: S. Kaira, S. Mohamed, A. Rahman

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Traditionally, highway infrastructure projects are initiated based on their economic benefits, thereafter environmental, social and governance impacts are addressed discretely for the selected project from a set of pre-determined alternatives. When opting for cost-benefit analysis (CBA), multi-criteria decision-making (MCDM) has been used as the default assessment tool. But this tool has been critiqued as it does not mimic the real-world dynamic environment. Indeed, it is because of the fact that public sector projects like highways have to experience intense exposure to dynamic environments. Therefore, it is essential to appreciate the impacts of various dynamic factors (factors that change or progress with the system) on project performance. Thus, this paper presents various sustainability assessment tools that have been globally developed to determine sustainability performance of infrastructure projects during the design, procurement and commissioning phase. Indeed, identification of the current gaps in the available assessment methods provides a potential to add prominent part of knowledge in the field of ‘road project development systems and procedures’ that are generally used by road agencies.

Keywords: dynamic impact factors, micro and macro factors, sustainability assessment framework, sustainability performance

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Authors: Ankur Mundhra, Shubhadeep Chakraborty, Y. R. Singh, Vishal Das

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Seismic data scaling affects the dynamic range of a data and with present day lower costs of storage and higher reliability of Hard Disk data, scaling is not suggested. However, in dealing with data of different vintages, which perhaps were processed in 16 bits or even 8 bits and are need to be processed with 32 bit available data, scaling is performed. Also, scaling amplifies low amplitude events in deeper region which disappear due to high amplitude shallow events that saturate amplitude scale. We have focused on significance of scaling data to aid interpretation. This study elucidates a proper seismic loading procedure in workstations without using default preset parameters as available in most software suites. Differences and distribution of amplitude values at different depth for seismic data are probed in this exercise. Proper loading parameters are identified and associated steps are explained that needs to be taken care of while loading data. Finally, the exercise interprets the un-certainties which might arise when correlating scaled and unscaled versions of seismic data with synthetics. As, seismic well tie correlates the seismic reflection events with well markers, for our study it is used to identify regions which are enhanced and/or affected by scaling parameter(s).

Keywords: clipping, compression, resolution, seismic scaling

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Authors: David M. Gilstrap

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Designing effective instructions is a critical dimension of effective teaching systems. Due to a void in interpersonal contact, online courses present new challenges in this regard, especially with large class sizes. This presentation is a case study in how the repetition of instructions within the course design was utilized to increase instructor efficiency in managing a rapid rise in enrollment. World of Turf is a two-credit, semester-long elective course for non-turfgrass majors at Michigan State University. It is taught entirely online and solely by the instructor without any graduate teaching assistants. Discussion forums about subject matter are designated for each lecture, and those forums are moderated by a few undergraduate turfgrass majors. The instructions as to the course structure, navigation, and grading are conveyed in the syllabus and course-introduction lecture. Regardless, students email questions about such matters, and the number of emails increased as course enrollment grew steadily during the first three years of its existence, almost to a point that the course was becoming unmanageable. Many of these emails occurred because the instructor was failing to update and operate the course in a timely and proper fashion because he was too busy answering emails. Some of the emails did help the instructor ferret out poorly composed instructions, which he corrected. Beginning in the summer semester of 2015, the instructor overhauled the course by segregating content into weekly modules. The philosophy envisioned and embraced was that there can never be too much repetition of instructions in an online course. Instructions were duplicated within each of these modules as well as associated modules for syllabus and schedules, getting started, frequently asked questions, practice tests, surveys, and exams. In addition, informational forums were created and set aside for questions about the course workings and each of the three exams, thus creating even more repetition. Within these informational forums, students typically answer each other’s questions, which demonstrated to the students that that information is available in the course. When needed, the instructor interjects with corrects answers or clarifies any misinformation which students might be putting forth. Increasing the amount of repetition of instructions and strategic enhancements to the course design have resulted in a dramatic decrease in the number of email replies necessitated by the instructor. The resulting improvement in efficiency allowed the instructor to raise enrollment limits thus effecting a ten-fold increase in enrollment over a five-year period with 1050 students registered during the most recent academic year, thus becoming easily the largest online course at the university. Because of the improvement in course-delivery efficiency, sufficient time was created that allowed the instructor to development and launch an additional online course, hence further enhancing his productivity and value in terms of the number of the student-credit hours for which he is responsible.

Keywords: design, efficiency, instructions, online, repetition

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Authors: S. Wakim, M. Nemer, B. Zeghondy, B. Ghannam, C. Bouallou

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Designing the optimal heat exchanger is still an essential objective to be achieved. Parametrical optimization involves the evaluation of the heat exchanger dimensions to find those that best satisfy certain objectives. This method contributes to an enhanced design rather than an optimized one. On the contrary, topology optimization finds the optimal structure that satisfies the design objectives. The huge development in metal additive manufacturing allowed topology optimization to find its way into engineering applications especially in the aerospace field to optimize metal structures. Using topology optimization in 3d heat and mass transfer problems requires huge computational time, therefore coupling it with CFD simulations can reduce this it. However, existed CFD models cannot be coupled with topology optimization. The CFD model must allow creating a uniform mesh despite the initial geometry complexity and also to swap the cells from fluid to solid and vice versa. In this paper, a porous media approach compatible with topology optimization criteria is developed. It consists of modeling the fluid region of the heat exchanger as porous media having high porosity and similarly the solid region is modeled as porous media having low porosity. The switching from fluid to solid cells required by topology optimization is simply done by changing each cell porosity using a user defined function. This model is tested on a plate and fin heat exchanger and validated by comparing its results to experimental data and simulations results. Furthermore, this model is used to perform a material reallocation based on local criteria to optimize a plate and fin heat exchanger under a constant heat duty constraint. The optimized fin uses 20% fewer materials than the first while the pressure drop is reduced by about 13%.

Keywords: computational methods, finite element method, heat exchanger, porous media, topology optimization

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Authors: Hamza Saeed, Khurram Iqbal Ahmad Khan

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Effective information management is crucial for any construction project and its success. Primary areas of information generation are either the construction site or the design office. There are different types of information required at different stages of construction involving various stakeholders creating complexity. There is a need for effective management of information flows to reduce uncertainty creating complexity. Nature provides a unique perspective in terms of dealing with complexity, in particular, information complexity. System dynamics methodology provides tools and techniques to address complexity. It involves modeling and simulation techniques that help address complexity. Nature has been dealing with complex systems since its creation 4.5 billion years ago. It has perfected its system by evolution, resilience towards sudden changes, and extinction of unadaptable and outdated species that are no longer fit for the environment. Nature has been accommodating the changing factors and handling complexity forever. Humans have started to look at their natural counterparts for inspiration and solutions for their problems. This brings forth the possibility of using a biomimetics approach to improve the management practices used in the construction sector. Ants inhabit different habitats. Cataglyphis and Pogonomyrmex live in deserts, Leafcutter ants reside in rainforests, and Pharaoh ants are native to urban developments of tropical areas. Detailed studies have been done on fifty species out of fourteen thousand discovered. They provide the opportunity to study the interactions in diverse environments to generate collective behavior. Animals evolve to better adapt to their environment. The collective behavior of ants emerges from feedback through interactions among individuals, based on a combination of three basic factors: The patchiness of resources in time and space, operating cost, environmental stability, and the threat of rupture. If resources appear in patches through time and space, the response is accelerating and non-linear, and if resources are scattered, the response follows a linear pattern. If the acquisition of energy through food is faster than energy spent to get it, the default is to continue with an activity unless it is halted for some reason. If the energy spent is rather higher than getting it, the default changes to stay put unless activated. Finally, if the environment is stable and the threat of rupture is low, the activation and amplification rate is slow but steady. Otherwise, it is fast and sporadic. To further study the effects and to eliminate the environmental bias, the behavior of four different ant species were studied, namely Red Harvester ants (Pogonomyrmex Barbatus), Argentine ants (Linepithema Humile), Turtle ants (Cephalotes Goniodontus), Leafcutter ants (Genus: Atta). This study aims to improve the information system in the construction sector by providing a guideline inspired by nature with a systems-thinking approach, using system dynamics as a tool. Identified factors and their interdependencies were analyzed in the form of a causal loop diagram (CLD), and construction industry professionals were interviewed based on the developed CLD, which was validated with significance response. These factors and interdependencies in the natural system corresponds with the man-made systems, providing a guideline for effective use and flow of information.

Keywords: biomimetics, complex systems, construction management, information management, system dynamics

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Authors: Auwal Nata'ala

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The Information and Communication Technology (ICT) has had impacts in almost every area human endeavor. From business, industries, banks to none profit organizations. ICT has simplified business process such as sorting, summarizing, coding, updating and generating a report in a real-time processing mode. However, the use of these ICT facilities such as computer and internet has also brought unintended consequences of criminal activities such as spamming, credit card frauds, ATM frauds, phishing, identity theft, denial of services and other related cyber crimes. This study sought to examined cyber-crime and its impact on the banking institution in Nigeria. It also examined the existing policy framework and assessed the success of the institutional countermeasures in combating cyber crime in the banking industry. This paper X-ray’s cyber crimes, policies issues and provides insight from a Nigeria perspective.

Keywords: cyber crimes, e-banking, policies, ICT

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Authors: Akindele Ojo, Olanike Ojo, Agatha Oseghale

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The empirical study examined the allocative efficiency of small holder tuber crop farmers in North central, Nigeria. Data used for the study were obtained from primary source using a multi-stage sampling technique with structured questionnaires administered to 300 randomly selected tuber crop farmers from the study area. Descriptive statistics, data envelopment analysis and Tobit regression model were used to analyze the data. The DEA result on the classification of the farmers into efficient and inefficient farmers showed that 17.67% of the sampled tuber crop farmers in the study area were operating at frontier and optimum level of production with mean allocative efficiency of 1.00. This shows that 82.33% of the farmers in the study area can still improve on their level of efficiency through better utilization of available resources, given the current state of technology. The results of the Tobit model for factors influencing allocative inefficiency in the study area showed that as the year of farming experience, level of education, cooperative society membership, extension contacts, credit access and farm size increased in the study area, the allocative inefficiency of the farmers decreased. The results on effects of the significant determinants of allocative inefficiency at various distribution levels revealed that allocative efficiency increased from 22% to 34% as the farmer acquired more farming experience. The allocative efficiency index of farmers that belonged to cooperative society was 0.23 while their counterparts without cooperative society had index value of 0.21. The result also showed that allocative efficiency increased from 0.43 as farmer acquired high formal education and decreased to 0.16 with farmers with non-formal education. The efficiency level in the allocation of resources increased with more contact with extension services as the allocative efficeincy index increased from 0.16 to 0.31 with frequency of extension contact increasing from zero contact to maximum of twenty contacts per annum. These results confirm that increase in year of farming experience, level of education, cooperative society membership, extension contacts, credit access and farm size leads to increases efficiency. The results further show that the age of the farmers had 32% input to the efficiency but reduces to an average of 15%, as the farmer grows old. It is therefore recommended that enhanced research, extension delivery and farm advisory services should be put in place for farmers who did not attain optimum frontier level to learn how to attain the remaining 74.39% level of allocative efficiency through a better production practices from the robustly efficient farms. This will go a long way to increase the efficiency level of the farmers in the study area.

Keywords: allocative efficiency, DEA, Tobit regression, tuber crop

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Authors: Ahmed Noor Al-Qayyim

Abstract:

During the past decades, the bridge structures are considered very important portions of transportation networks, due to the fast urban sprawling. With the failure of bridges that under operating conditions lead to focus on updating the default bridge inspection methodology. The structures health monitoring (SHM) using the vibration response appeared as a promising method to evaluate the condition of structures. The rapid development in the sensors technology and the condition assessment techniques based on the vibration-based damage detection made the SHM an efficient and economical ways to assess the bridges. SHM is set to assess state and expects probable failures of designated bridges. In this paper, a presentation for Frequency Response function method that uses the captured vibration test information of structures to evaluate the structure condition. Furthermore, the main steps of the assessment of bridge using the vibration information are presented. The Frequency Response function method is applied to the experimental data of a full-scale bridge.

Keywords: bridge assessment, health monitoring, damage detection, frequency response function (FRF), signal processing, structure identification

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Authors: Hamideh Rahmani

Abstract:

The subject matter of ethics is being changed in modern life, which had been an issue for a long time and aimed to define its moral boundaries in human's intellectual and everyday life. This has led to the introduction of notions based on the separation of religion from ethics in recent decades. It is in conflict with the traditional view, which introduces ethics as raised from religion and religion as the most crucial credit for ethics. The purpose of this study is to investigate the elements of secular ethics from the perspective of Mostafa Malekian, seeking to achieve his notions. After examining the strengths of secular ethics parameters from the viewpoint of Malekian, this research found his ethics in his interpretation of the ideal life which he treats as ethics, got a very strong link with his secularist project known as rationality and spirituality. We will analyze, review, and critique his ethics in the following.

Keywords: secular ethics, Mostafa Malakian, global ethics, rationality, spirituality

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Authors: Rishabh Garg

Abstract:

Traditionally, business parties build trust with a centralized operating mechanism, such as payment by letter of credit. However, the increase in cyber-attacks and malicious hacking has jeopardized business operations and finance practices. Emerging markets, owing to their higher banking risks and bigger presence of digital financing, are looking forward to technology-driven solutions, financial inclusion and innovative working paradigms. Blockchain has the potential to enhance transaction transparency and supply chain traceability. It has captured a vast landscape with 200 million crypto users worldwide. Fintech and blockchain products are popping up across brokerage, digital wallets, exchanges, post-trade clearance, settlement, middleware, infrastructure, and base protocols.

Keywords: blockchain, distributed ledger technology, decentralized applications, ethereum, smart contracts, trade finance

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Authors: Raymond K. Dziwornu

Abstract:

Lending rate of agriculture loan has persistently been high and attributed to risk in the sector. This study examined how food inflation and agriculture lending rate react to each other in Ghana using vector autoregressive approach. Quarterly data from 2006 to 2018 was obtained from the Bank of Ghana quarterly bulletin and the Ghana Statistical Service reports. The study found that a positive standard deviation shock to food inflation causes lending rate of agriculture loan to react negatively in the short run, but positively and steadily in the long run. This suggests the need to direct appropriate policy measures to reduce food inflation and consequently, the cost of credit to the agricultural sector for its growth.

Keywords: food inflation, agriculture, lending rate, vector autoregressive, Ghana

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Authors: Shabir Ahmad Sofi, Shubham Aggarwal, Sanyam Singhal, Roohie Naaz

Abstract:

Biometric recognition refers to an automatic recognition of individuals based on a feature vector(s) derived from their physiological and/or behavioral characteristic. Biometric recognition systems should provide a reliable personal recognition schemes to either confirm or determine the identity of an individual. These features are used to provide an authentication for computer based security systems. Applications of such a system include computer systems security, secure electronic banking, mobile phones, credit cards, secure access to buildings, health and social services. By using biometrics a person could be identified based on 'who she/he is' rather than 'what she/he has' (card, token, key) or 'what she/he knows' (password, PIN). In this paper, a brief overview of biometric methods, both unimodal and multimodal and their advantages and disadvantages, will be presented.

Keywords: biometric, DNA, fingerprint, ear, face, retina scan, gait, iris, voice recognition, unimodal biometric, multimodal biometric

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Authors: Anastasiya Paltarzhitskaya

Abstract:

Subjective time plays an important role in consciousness processes and self-awareness at the moment. The concept of intrinsic neural timescales (INT) explains the difference in perceiving various time intervals. The capacity to experience the present builds on the fundamental properties of temporal cognition. The challenge that both philosophy and neuroscience try to answer is how the brain differentiates the present from the past and future. In our work, we analyze papers which describe mechanisms involved in the perception of ‘present’ and ‘non-present’, i.e., future and past moments. Taking into account that we perceive time intervals even during rest or relaxation, we suppose that the default-mode network activity can code time features, including the present moment. We can compare some results of time perceptual studies, where brain activity was shown in states with different flows of time, including resting states and during “mental time travel”. According to the concept of mental traveling, we employ a range of scenarios which demand episodic memory. However, some papers show that the hippocampal region does not activate during time traveling. It is a controversial result that is further complicated by the phenomenological aspect that includes a holistic set of information about the individual’s past and future.

Keywords: temporal consciousness, time perception, memory, present

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Authors: Said Rabah Azzam, Andrew Graham

Abstract:

Fragmentation of packets caused by encryption applied on the network layer of the IOS model in Internet Protocol version 4 (IPv4) networks as well as the possibility of using fragmentation and Access Control Lists (ACLs) as a method of restricting network access to certain hosts or areas of a network.Using default settings, fragmentation is expected to occur and each fragment to be reassembled at the other end. If this does not occur then a high number of ICMP messages should be generated back towards the source host indicating that the packet is too large and that it needs to be made smaller. This result is also expected when the MTU is changed for certain links between devices.When using ACLs and packet fragments to restrict access to hosts or network segments it is possible that ACLs cannot be set up in this way. If ACLs cannot be setup to allow only fragments then it is a limitation of the hardware’s firmware holding back this particular method. If the ACL on the restricted switch can be set up in such a way to allow only fragments then a connection that forces packets to fragment should be allowed to pass through the ACL. This should then make a network connection to the destination machine allowing data to be sent to and from the destination machine. ICMP messages from the restricted access switch and host should also be blocked from being sent back across the link which will be shown in an SSH session into the switch.

Keywords: fragmentation, encryption, security, switch

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Authors: Susan P. Teru, Jerome Nyameh

Abstract:

Many contemporary organizations are placing a greater emphasis on business enterprise systems as a means of generating higher levels of economic development. Many business research and literature has also concur that enterprise drive economic development, giving little or no credit to social enterprise, whose profit is reinvest to the community development compare to the business enterprise that share their profit to shareholders. Economic development includes economic policies that affect the beneficiaries of the economic entity. We suggest that producing social enterprise increments may be best achieved by orienting social enterprise entrepreneurs system to promote economic development. To this end, we describe a new approach to the social enterprise process that includes social entrepreneur and the key drivers of economic development at each stage. We present a model of social enterprise that incorporates the main ideas of the paper and suggests a new perspective for thinking about how to foster and manage social enterprise to achieve high levels of economic development.

Keywords: social enterprise, economic development, Nigeria, business and management

Procedia PDF Downloads 483