Search results for: cross price elasticity

Authors: Ali Kurşun, Emre Kara, Erhan Çetin, Şafak Aksoy, Ahmet Kesimli

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In this study, thermal elastic stress distribution occurred on long hollow cylinders made of functionally graded material (FGM) was analytically defined under thermal, mechanical and thermo mechanical loads. In closed form solutions for elastic stresses and displacements are obtained analytically by using the infinitesimal deformation theory of elasticity. It was assumed that elasticity modulus, thermal expansion coefficient and density of cylinder materials could change in terms of an exponential function as for that Poisson’s ratio was constant. A gradient parameter n is chosen between - 1 and 1. When n equals to zero, the disc becomes isotropic. Circumferential, radial and longitudinal stresses in the FGMs cylinders are depicted in the figures. As a result, the gradient parameters have great effects on the stress systems of FGMs cylinders.

Keywords: functionally graded materials, thermoelasticity, thermomechanical load, hollow cylinder.

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Authors: Stefanie J. Huber, Tobias Schmidt

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Cross-country differences in homeownership rates are large and very persistent over time, ranging between 35% in Switzerland to 80% in Spain. In this project, we test the hypothesis that these cross-country differences are driven by cultural tastes. To isolate the effect of culture from the effects of institutions and economic factors, we investigate the homeownership attitudes of second-generation immigrants in the United States. We find robust evidence that cross-country differences in cultural preferences are an important explanatory factor for the observed persistent differences in homeownership rates across countries.

Keywords: housing markets, homeownership rates, country heterogeneity, preferences, cultural transmission, migration

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Authors: A. Bentabet, A. Aydin, N. Fenineche

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In this work, we try to determine the best analytical approximation of differential cross sections, used generally in Monte Carlo simulation, to study the electron/positron slowing down in solid targets in the energy range up to 10 keV. Actually, our comparative study was carried out on the angular distribution of the scattering angle, the elastic total and the first transport cross sections which are the essential quantities used generally in the electron/positron transport study by using both stochastic and deterministic methods. Indeed, the obtained results using the relativistic partial wave expansion method and the backscattering coefficient experimental data are used as criteria to evaluate the used model.

Keywords: differential cross-section, backscattering coefficient, Rutherford cross-section, Vicanek and Urbassek theory

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Authors: Samira Mohabbatdar, Abbas Ahmadi, Mohsen S. Sajadieh

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This paper deals with a two-level supply chain consisted of one manufacturer and one retailer for single-type product. The demand function of the customers depends on price. We consider an integrated production inventory system where the manufacturer processes raw materials in order to deliver finished product with imperfect quality to the retailer. Then retailer inspects the products and after that delivers perfect products to customers. The proposed model is based on the joint total profit of both the manufacturer and the retailer, and it determines the optimal ordering lot-size, number of shipment and selling price of the retailer. A numerical example is provided to analyse and illustrate the behaviour and application of the model. Finally, sensitivity analysis of the key parameters are presented to test feasibility of the model.

Keywords: supply chain, pricing policy, defective quality, joint economic lot sizing

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Authors: Nhi Phuoc Thuc Le

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Cross-cultural adaptability —one’s readiness to interact with people who are different from oneself or to adapt to living in another culture— is essential to the well-being and experience of international students. This research was set out to find the correlation between certain personality traits of international students and their likelihood to adapt to the U.S., the host culture. The study used Qualtrics, an online survey, to investigate the relationships between international students’ social self-efficacy, ego-resiliency, cultural intelligence, Big Five personality traits and cross-cultural adaptability (sociocultural and psychological adaptability). The data were analysed with the software SPSS. The findings of this quantitative study show that high scores in ego-resiliency, social self-efficacy, cultural intelligence and personality traits (including extraversion, agreeableness, intellect and conscientiousness) are correlated with better cross-cultural adaptation. Meanwhile, the Big-Five trait neuroticism is correlated with lower cross-cultural adaptability. Such insight is suggested to help international students be better prepared for an immersion into the US culture.

Keywords: Big Five, cross-cultural adaptability, cultural intelligence, ego-resiliency, international students, personality, self-efficacy

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Authors: Salah Hamri, Tewfik Bouchaour, Ulrich Maschke

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The aim of this works is the study of swelling ratio of cross-linked polymer networks poly (2-hydroxyethyl methacrylate) (PHEMA). The system composed of erythrosine and Triethanolamine, in aqueous medium, is used as photo-initiator and 1,6-Hexanediol diacrylate as cross-linker. The analysis of UV-visible and infrared spectra, which were taken at different times during polymerization/cross linking, makes it possible to obtain useful information on the reaction mechanism. The swelling behavior was study by changing the nature of solvent, dye sensitizer (erythrosine, rose Bengal and eosin), and pH of the medium. The exploitation of experimental results using Fick diffusion model is also expected and shows a good correlation between theoretical and experimental results.

Keywords: cross-linker, photo-sensitizer, polymer network, swelling ratio

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Authors: Geng Xiangren, Liu Lei, Gui Ye-Wei, Tang Wei, Wang An-ling

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The malfunction of thermal protection system (TPS) caused by aerodynamic heating is a latent trouble to aircraft structure safety. Accurately predicting the structure temperature field is quite important for the TPS design of hypersonic vehicle. Since Thornton’s work in 1988, the coupled method of aerodynamic heating and heat transfer has developed rapidly. However, little attention has been paid to the influence of structural deformation on aerodynamic heating and structural temperature field. In the flight, especially the long-endurance flight, the structural deformation, caused by the aerodynamic heating and temperature rise, has a direct impact on the aerodynamic heating and structural temperature field. Thus, the coupled interaction cannot be neglected. In this paper, based on the method of static aero-thermo-elasticity, considering the influence of aero-thermo-elasticity deformation, the aerodynamic heating and heat transfer coupled results of hypersonic vehicle wing model were calculated. The results show that, for the low-curvature region, such as fuselage or center-section wing, structure deformation has little effect on temperature field. However, for the stagnation region with high curvature, the coupled effect is not negligible. Thus, it is quite important for the structure temperature prediction to take into account the effect of elastic deformation. This work has laid a solid foundation for improving the prediction accuracy of the temperature distribution of aircraft structures and the evaluation capacity of structural performance.

Keywords: aerothermoelasticity, elastic deformation, structural temperature, multi-field coupling

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Authors: Sungzoon Cho, Hye Jin Lee, Sungwhan Jeon, Dongyoung Min, Sungwon Lyu

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Major public corporations worldwide use conference calls to report their quarterly earnings. These 'earnings' conference calls allow for questions from stock analysts. We investigated if it is possible to identify sentiment from the call script and use it to predict stock price movement. We analyzed call scripts from six companies, two each from Korea, China and Indonesia during six years 2011Q1 – 2017Q2. Random forest with Frequency-based sentiment scores using Loughran MacDonald Dictionary did better than control model with only financial indicators. When the stock prices went up 20 days from earnings release, our model predicted correctly 77% of time. When the model predicted 'up,' actual stock prices went up 65% of time. This preliminary result encourages us to investigate advanced sentiment scoring methodologies such as topic modeling, auto-encoder, and word2vec variants.

Keywords: earnings call script, random forest, sentiment analysis, stock price prediction

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Authors: Yaeji Lim, Hee-Seok Oh

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The coherence analysis measures the linear time-invariant relationship between two data sets and has been studied various fields such as signal processing, engineering, and medical science. However classical coherence analysis tends to be sensitive to outliers and focuses only on mean relationship. In this paper, we generalized cross periodogram to quantile cross periodogram and provide richer inter-relationship between two data sets. This is a general version of Laplace cross periodogram. We prove its asymptotic distribution under the long range process and compare them with ordinary coherence through numerical examples. We also present real data example to confirm the usefulness of quantile coherence analysis.

Keywords: coherence, cross periodogram, spectrum, quantile

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Authors: Li-Hsueh Chen

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Efficient operation is more and more important for managers of hotels. Unlike the manufacturing industry, hotels cannot store their products. In addition, many hotels provide room service, and food and beverage service simultaneously. When efficiencies of hotels are evaluated, the internal structure should be considered. Hence, based on the operational characteristics of hotels, this study proposes a DEA model to simultaneously assess the efficiencies among the room production division, food and beverage production division, room service division and food and beverage service division. However, not only the enhancement of efficiency but also the adjustment of scale can improve the performance. In terms of the adjustment of scale, scale elasticity or returns to scale can help to managers to make decisions concerning expansion or contraction. In order to construct a reasonable approach to measure the efficiencies and scale elasticities of hotels, this study builds an alternative variable-returns-to-scale-based two-stage network DEA model with the combination of parallel and series structures to explore the scale elasticities of the whole system, room production division, food and beverage production division, room service division and food and beverage service division based on the data of international tourist hotel industry in Taiwan. The results may provide valuable information on operational performance and scale for managers and decision makers.

Keywords: efficiency, scale elasticity, network data envelopment analysis, international tourist hotel

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Authors: Siphat Lim

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The result of the study revealed that the interaction between money, exchange rate, and price level was mainly derived from the policy-induced by the central bank. Furthermore, the variation of inflation was explained weakly by exchange rate and money supply. In the period of twelfth-month, the variation of inflation which caused by exchange rate and money supply were not more than 1.78 percent and 9.77 percent, respectively.

Keywords: money supply, exchange rate, price level, VAR model

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Authors: Christopher Giehl, Anja Allabar, Daniela Ehgartner

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Rotational rheometry is standard practice for the viscosity measurement of molten glass, neglecting the viscoelastic properties of this material, especially at temperatures approaching the glass transition. Oscillatory rheometry serves as a powerful toolbox for glass melt characterization beyond viscosity measurements. Heating and cooling rates and the time-dependent visco-elastic behavior influence the temperature where materials undergo the glass transition. This study presents quantitative thermo-mechanical visco-elasticity measurements on three samples in the Na-K-Al-Si-O system. The measurements were performed with a Furnace Rheometer System combined with an air-bearing DSR 502 measuring head (Anton Paar) and a Pt90Rh10 measuring geometry. Temperature ramps were conducted in rotation and oscillation, and the (complex) viscosity values were compared to calculated viscosity values based on sample composition. Furthermore, temperature ramps with different frequencies were conducted, also revealing the frequency-dependence of the shear loss modulus G’’ and the shear storage modulus G’. Here, lower oscillatory frequency results in lower glass transition temperature, as defined by the G’-G’’ crossover point. This contribution demonstrates that oscillatory rheometry serves as a powerful toolbox beyond viscosity measurements, as it considers the visco-elasticity of glass melts quantifying viscous and elastic moduli. Further, it offers a strong definition of Tg beyond the 10^12 Pas concept, which cannot be utilized with rotational viscometry data.

Keywords: frequency dependent glass transition, Na-K-Al-Si-O glass melts, oscillatory rheometry, visco-elasticity

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Authors: Rui Chen, Shu-min Zhou, Xiong-jie Zhang, Ren-bo Wang, Fan Huang, Bin Tang

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During the temperature changes in reactor core, the nuclide cross section in reactor can vary with temperature, which eventually causes the changes of reactivity. To simulate the interaction between incident neutron and various materials at different temperatures on the nose, it is necessary to generate all the relevant reaction temperature-dependent cross section. Traditionally, the real time cross section generation method is used to avoid storing huge data but contains severe problems of low efficiency and adaptability for narrow energy region. Focused on the research on multi-temperature cross sections generation in real time during in neutron transport, this paper investigated the on-the-fly cross section generation method for resolved resonance region, thermal region and unresolved resonance region, and proposed the real time multi-temperature cross sections generation method based on double-exponential formula for resolved resonance region, as well as the Neville interpolation for thermal and unresolved resonance region. To prove the correctness and validity of multi-temperature cross sections generation based on wide energy region of incident neutron, the proposed method was applied in critical safety benchmark tests, which showed the capability for application in reactor multi-physical coupling simulation.

Keywords: cross section, neutron transport, numerical simulation, on-the-fly

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Authors: Tai-Yue Wang, Yi-Ho Chen

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In this study, we investigate a two-echelon supply chain with two suppliers and three retailers among which one retailer dominates other retailers. A price competition demand function is used to model this dominant retailer, which is leading market. The promotion strategies and negotiation schemes are integrated to form decision-making models under different scenarios. These models are then formulated into different mathematical programming models. The decision variables such as promotional costs, retailer prices, wholesale price, and order quantity are included in these models. At last, the distributions of promotion costs under different cost allocation strategies are discussed. Finally, an empirical example used to validate our models. The results from this empirical example show that the profit model will create the largest profit for the supply chain but with different profit-sharing results. At the same time, the more risk a member can take, the more profits are distributed to that member in the utility model.

Keywords: supply chain, price promotion, mathematical models, dominant retailer

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Authors: Adeyemi Kamil Hamzah

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The contiguity of nations in international system suggests that world is a composite of socio-economic unit with people exploring and exploiting the potentials in the world via migrations. Thus, cross border migration has made positive contributions to social and economic development of individuals and nations by increasing the household incomes of the host countries. However, the cross border migrations in West Africa are becoming part of a dynamic and unstable world migration system. This is due to the nature and consequences of trans-border crimes in West Africa, with both short and long term effects on the socio-economic viability of developing countries like West African States. The paper identified that migration influenced cross-border crimes as well as the high spate of insurgencies in the sub-region. Furthermore, the consequential effect of a global village has imbalanced population flows, making some countries host and parasites to others. Also, stern and deft cross-border rules and regulations, as well as territorial security and protections, ameliorate cross border crimes and migration in West African sub-regions. Therefore, the study concluded that cross border migration is the linchpin of all kinds of criminal activities which affect the security of states in the sub-region.

Keywords: cross-border migration, border crimes, security, West Africa, development, globalisation

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Authors: Pierluigi Gallo, Francesco Randazzo, Ignazio Gallo

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In recent years, many new and interesting models of successful online business have been developed. Many of these are based on the competition between users, such as online auctions, where the product price is not fixed and tends to rise. Other models, including group-buying, are based on cooperation between users, characterized by a dynamic price of the product that tends to go down. There is not yet a business model in which both sellers and buyers are grouped in order to negotiate on a specific product or service. The present study investigates a new extension of the group-buying model, called fair, which allows aggregation of demand and supply for price optimization, in a cooperative manner. Additionally, our system also aggregates products and destinations for shipping optimization. We introduced the following new relevant input parameters in order to implement a double-side aggregation: (a) price-quantity curves provided by the seller; (b) waiting time, that is, the longer buyers wait, the greater discount they get; (c) payment time, which determines if the buyer pays before, during or after receiving the product; (d) the distance between the place where products are available and the place of shipment, provided in advance by the buyer or dynamically suggested by the system. To analyze the proposed model we implemented a system prototype and a simulator that allows studying effects of changing some input parameters. We analyzed the dynamic price model in fairs having one single seller and a combination of selected sellers. The results are very encouraging and motivate further investigation on this topic.

Keywords: auction, aggregation, fair, group buying, social buying

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Authors: Himayatullah Khan

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This study estimates supply response function of sugarcane in Pakistan from 1980-81 to 2012-13. The study uses co-integration approach and error correction mechanism. Sugarcane production, area and price series were tested for unit root using Augmented Dickey Fuller (ADF). The study found that these series were stationary at their first differenced level. Using the Augmented Engle-Granger test and Cointegrating Regression Durbin-Watson (CRDW) test, the study found that “production and price” and “area and price” were co-integrated suggesting that the two sets of time series had long-run or equilibrium relationship. The results of the error correction models for the two sets of series showed that there was disequilibrium in the short run there may be disequilibrium. The Engle-Granger residual may be thought of as the equilibrium error which can be used to tie the short-run behavior of the dependent variable to its long-run value. The Granger-Causality test results showed that log of price granger caused both the long of production and log of area whereas, the log of production and log of area Granger caused each other.

Keywords: co-integration, error correction mechanism, Granger-causality, sugarcane, supply response

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Authors: H. B. Tibar, Z. Y. Jiang

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In this study, the influence of rolling process parameters such as the work roll cross angle and work roll shifting value on the strip shape and profile of aluminum have been investigated under dry conditions at a speed ratio of 1.3 using Hille 100 experimental mill. The strip profile was found to improve significantly with increase in work roll cross angle from 0^o to 1^o, with an associated decrease in rolling force. The effect of roll shifting (from 0 to 8mm) was not as significant as the roll cross angle. However, an increase in work roll shifting value achieved a similar decrease in rolling force as that of work roll cross angle. The effect of work roll shifting was also found to be maximum at an optimum roll speed of 0.0986 m/s for the desired thickness. Of all these parameters, the most significant effect of the strip shape profile was observed with variation of work roll cross angle. However, the rolling force can be a significantly reduced by either increasing the the work roll cross angle or work roll shifting.

Keywords: rolling speed ratio, strip shape, work roll cross angle, work roll shifting

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Authors: R. Pilafkan, M. Kaffash Irzarahimi, S. F. Asbaghian Namin

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The biaxial buckling behavior of single-layered graphene sheets (SLGSs) is studied in the present work. To consider the size-effects in the analysis, Eringen’s nonlocal elasticity equations are incorporated into classical plate theory (CLPT). A Generalized Differential Quadrature Method (GDQM) approach is utilized and numerical solutions for the critical buckling loads are obtained. Then, molecular dynamics (MD) simulations are performed for a series of zigzag SLGSs with different side-lengths and with various boundary conditions, the results of which are matched with those obtained by the nonlocal plate model to numerical the appropriate values of nonlocal parameter relevant to each type of boundary conditions.

Keywords: biaxial buckling, single-layered graphene sheets, nonlocal elasticity, molecular dynamics simulation, classical plate theory

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Authors: Heri Hermansyah, Annisa Kurnia, A. Vania Anisya, Adi Surjosatyo, Yopi Sunarya, Rita Arbianti, Tania Surya Utami

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Lipase is one of biocatalyst which is applied commercially for the process in industries, such as bioenergy, food, and pharmaceutical industry. Nowadays, biocatalysts are preferred in industries because they work in mild condition, high specificity, and reduce energy consumption (high pressure and temperature). But, the usage of lipase for industry scale is limited by economic reason due to the high price of lipase and difficulty of the separation system. Immobilization of lipase is one of the solutions to maintain the activity of lipase and reduce separation system in the process. Therefore, we conduct a study about lipase immobilization with the adsorption-cross linking method using glutaraldehyde because this method produces high enzyme loading and stability. Lipase is immobilized on different kind of resin with the various functional group. Highest enzyme loading (76.69%) was achieved by lipase immobilized on anion macroporous which have anion functional group (OH^‑). However, highest activity (24,69 U/g support) through olive oil emulsion method was achieved by lipase immobilized on anion macroporous-chitosan which have amino (NH₂) and anion (OH^-) functional group. In addition, it also success to produce biodiesel until reach yield 50,6% through interesterification reaction and after 4 cycles stable 63.9% relative with initial yield. While for Aspergillus, niger lipase immobilized on anion macroporous-kitosan have unit activity 22,84 U/g resin and yield biodiesel higher than commercial lipase (69,1%) and after 4 cycles stable reach 70.6% relative from initial yield. This shows that optimum functional group on support for immobilization with adsorption-cross linking is the support that contains amino (NH₂) and anion (OH^-) functional group because they can react with glutaraldehyde and binding with enzyme prevent desorption of lipase from support through binding lipase with a functional group on support.

Keywords: adsorption-cross linking, immobilization, lipase, resin

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Authors: Cristian Pauna

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Trading the financial markets is a widespread activity today. A large number of investors, companies, public of private funds are buying and selling every day in order to make profit. Algorithmic trading is the prevalent method to make the trade decisions after the electronic trading release. The orders are sent almost instantly by computers using mathematical models. This paper will present a price prediction methodology based on a multi-dimensional neural network. Using the Fisher transform, the neural network will be instructed for a low-latency auto-adaptive process in order to predict the price evolution for the next period of time. The model is designed especially for algorithmic trading and uses the real-time price series. It was found that the characteristics of the Fisher function applied at the nodes scale level can generate reliable trading signals using the neural network methodology. After real time tests it was found that this method can be applied in any timeframe to trade the financial markets. The paper will also include the steps to implement the presented methodology into an automated trading system. Real trading results will be displayed and analyzed in order to qualify the model. As conclusion, the compared results will reveal that the neural network methodology applied together with the Fisher transform at the nodes level can generate a good price prediction and can build reliable trading signals for algorithmic trading.

Keywords: algorithmic trading, automated trading systems, financial markets, high-frequency trading, neural network

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Authors: Edson Vengesai

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Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.

Keywords: derivatives use, hedging, volatility, stock price exposure

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Authors: Zhaojun Wang, Zongdi Sun, Yongjie Chen, Manman Chen, Linghui Wang

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This paper uses the analytic hierarchy process to study the execution effect of the minimum purchase price of grain in different regions and various grain crops. Firstly, for different regions, five indicators including grain yield, grain sown area, gross agricultural production, grain consumption price index, and disposable income of rural residents were selected to construct an evaluation index system. We collect data of six provinces including Hebei Province, Heilongjiang Province and Shandong Province from 2006 to 2017. Then, the judgment matrix is constructed, and the hierarchical single ordering and consistency test are carried out to determine the scoring standard for the minimum purchase price of grain. The ranking of the execution effect from high to low is: Heilongjiang Province, Shandong Province, Hebei Province, Guizhou Province, Shaanxi Province, and Guangdong Province. Secondly, taking Shandong Province as an example, we collect the relevant data of sown area and yield of cereals, beans, potatoes and other crops from 2006 to 2017. The weight of area and yield index is determined by expert scoring method. And the average sown area and yield of cereals, beans and potatoes in 2006-2017 were calculated, respectively. On this basis, according to the sum of products of weights and mean values, the execution effects of different grain crops are determined. It turns out that among the cereals, the minimum purchase price had the best execution effect on paddy, followed by wheat and finally maize. Moreover, among major categories of crops, cereals perform best, followed by beans and finally potatoes. Lastly, countermeasures are proposed for different regions, various categories of crops, and different crops of the same category.

Keywords: analytic hierarchy process, grain yield, grain sown area, minimum grain purchase price

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Authors: Vinícius L. L. Morrone, David Douek, Helder M. F. Pereira, Bernadete L. M. Grandolpho

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This work aimed to identify the relationships between the level of consumer environmental awareness and their search for sustainable properties, as well as to understand the main sustainability structures considered by these consumers during the decision process. Additionally, the paper looked up to the influence environmental awareness and financial status have over the disposition of buyers to pay more for sustainable properties. To achieve these objectives, 318 questionnaires were answered electronically, after being sent to the Green Building Brazil email basis, as to other Real Estate developers client basis. From all the questionnaires answered, 71 were discarded, leaving a total amount of 247 admitted questionnaires to be analyzed. The responses were evaluated based on the theory of consumer decision making, especially on the influence factors of this process. The data were processed using a PLS model, using the R software. The results have shown that the level of consumer environmental awareness effectively affects the consumer’s will of acquiring a sustainable property or, at least, a property with some environmental friendly structures. The consumer’s environmental awareness also positively impacts the importance consumers give to individual environmental friendly structures. Also, as a consumer value to those individual structures raises, it is also observed a raise in his will to buy a sustainable property. Additionally, the impact of consumer’s environmental awareness and financial status over the willingness to pay more for a property with those attributes. The results indicate that there was no relationship between consumers' environmental awareness and their willingness to pay more for a sustainable property. On the other hand, the financial status and the family income of the consumers showed a positive relation with the willingness to pay more for a sustainable property. This indicates that consumers with better financial conditions, which according to the analysis do not necessarily have a greater environmental awareness, are those who are willing to pay more for a sustainable property. Thus, this study indicates that, even if the environmental awareness impact positively the demand for sustainable structures and properties, this impact is not price reflected, due to the price elasticity of the consumption, especially for a category of lower income consumers. This paper adds to the literature in the way it projects some guidelines to the consumer’s decision process in the Real Estate market in emerging economies, as well as it presents some drivers to pricing decisions.

Keywords: consumer behavior, environmental awareness, real estate pricing, sustainable buildings

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Authors: Hassan Adedoyin Rasaq

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

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

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Authors: Elena Petersen, Inna Kornienko, Svetlana Guryeva, Sergey Dobdin, Anatoly Skripal, Andrey Usanov, Dmitry Usanov

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One of the most important unsolved problems in modern medicine is the increase of chronic diseases that lead to organ dysfunction or even complete loss of function. Current methods of treatment do not result in decreased mortality and disability statistics. Currently, the best treatment for many patients is still transplantation of organs and/or tissues. Therefore, finding a way of correct artificial matrix biofabrication in case of limited number of natural organs for transplantation is a critical task. One important problem that needs to be solved is development of a nondestructive and noninvasive method to analyze dynamic changes of mechanical characteristics of a matrix with minimal side effects on the growing cells. This research was focused on investigating the properties of matrix as a marker of graft condition. In this study, the collagen gel with human primary dermal fibroblasts in suspension (60, 120, 240*103 cells/mL) and collagen gel with cell spheroids were used as model objects. The stiffness and elasticity characteristics were evaluated by a semiconductor laser autodyne. The time and cell concentration dependency of the stiffness and elasticity were investigated. It was shown that these properties changed in a non-linear manner with respect to cell concentration. The maximum matrix stiffness was observed in the collagen gel with the cell concentration of 120*103 cells/mL. This study proved the opportunity to use the mechanical properties of matrix as a marker of graft condition, which can be measured by noninvasive semiconductor laser autodyne technique.

Keywords: graft, matrix, noninvasive method, regenerative medicine, semiconductor laser autodyne

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Authors: T. S. Ramesh Babu, D. Neeraja

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This research work revealed that effect of Natural admixture (NAD) on Conventional Concrete (CC) and Class F Fly Ash(FA) blended concrete. Broiler hen egg white albumen and yellow yolk were used as Natural Admixture. Cement was replaced by Class F fly ash at various levels of 0%, 25%, 35%, 45% and 55% by its mass and NAD was added to concrete at different replacement dosages of 0%, 0.25%, 0.5%, 0.75% and 1.00% by its volume to water content and liquid to binder ratio was maintained at 0.5. For all replacement levels of FA and NAD, the mechanical properties viz unit weight, compressive strength, splitting tensile strength and modulus of elasticity of CC and Class F fly ash (FA) were studied at 7, 28, 56 and 112 days. From the results, it was concluded that 0.25% of NAD dosage was considered as optimum dosage for both CC and class F fly ash blended concrete. The studies revealed that 35% Class F fly ash blended concrete mix is concluded as optimum mix and 55% Class F fly ash blended concrete mix is concluded as economical mix with 0.25% NAD dosage.

Keywords: Class F fly ash, compressive strength, modulus of elasticity, natural admixture, splitting tensile strength, unit weight

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Authors: Elena Kovalevich, Irina Tomasheva

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The research relevance is caused by the importance of studying features of cross-cultural communication in the system of intensive language contacts, on the one hand, and on the other – by the need of control over the language situation as cross-cultural contacts often reflect emotionally intense reality, destructive for national culture and language and also for health and mentality of the individual. The objective consists in systematization of requirements imposed by the globalized society on ethics, aesthetics and emotive component of cross-cultural communication under conditions of language hybridization of modern Russian-speaking society. Problems connected with establishing the criteria differentiating eco-friendly and eco-unfriendly communication; identifying the specifics of the eco-unfriendly communication containing language hybrids; justifying the negative impact of language hybridization on ethics and esthetics of cross-cultural communication are considered, taking into account the category of emotivity. The study makes a contribution to the development of key problems of modern linguistics connected with exploration of basics in the theory of language personality, ecology of language, emotive linguistics. The results can be used by specialists in the fields of sociolinguistics, cross-cultural communication, the national language policy.

Keywords: cross-cultural communication, eco-linguistics, ethics and aesthetics, emotivity, language hybrids

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Authors: Montserrat Guillen, Stephania Mosquera-Lopez, Jorge Uribe

Abstract:

An empirical study of market risk transmission between electricity prices in the Nord Pool interconnected market is done. Crucially, it is differentiated between risk propagation in the two tails of the price variation distribution. Thus, the downside risk from upside risk spillovers is distinguished. The results found document an asymmetric nature of risk and risk propagation in the two tails of the electricity price log variations. Risk spillovers following price increments in the market are transmitted to a larger extent than those after price reductions. Also, asymmetries related to both, the size of the transaction area and related to whether a given area behaves as a net-exporter or net-importer of electricity, are documented. For instance, on the one hand, the bigger the area of the transaction, the smaller the size of the volatility shocks that it receives. On the other hand, exporters of electricity, alongside countries with a significant dependence on renewable sources, tend to be net-transmitters of volatility to the rest of the system. Additionally, insights on the predictive power of positive and negative semivariances for future market volatility are provided. It is shown that depending on the forecasting horizon, downside and upside shocks to the market are featured by a distinctive persistence, and that upside volatility impacts more on net-importers of electricity, while the opposite holds for net-exporters.

Keywords: electricity prices, realized volatility, semivariances, volatility spillovers

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Authors: Melek Akay

Abstract:

Turkey's agricultural commodity prices are prone to fluctuation but have gradually over time. A considerable amount of literature examines the changes in these prices by dealing with other commodities such as energy. Links between agricultural and energy markets have therefore been extensively investigated. Since red meat prices are becoming increasingly volatile in Turkey, this paper analyses the price volatility of veal, lamb and the relationship between red meat and crude oil, exchange rates by applying the generalize all period unconstraint volatility model, which generalises the GARCH (p, q) model for analysing weekly data covering a period of May 2006 to February 2017. Empirical results show that veal and lamb prices present volatility during the last decade, but particularly between 2009 and 2012. Moreover, oil prices have a significant effect on veal and lamb prices as well as their previous periods. Consequently, our research can lead policy makers to evaluate policy implementation in the appropriate way and reduce the impacts of oil prices by supporting producers.

Keywords: red meat price, volatility, crude oil, exchange rates, GARCH models, Turkey

Procedia PDF Downloads 99