Search results for: financial stress index

Authors: Abhishek Ranga

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The study examined the effect of accounting choice and level of disclosure on the firm’s implied cost of equity in Indian environment. For the study accounting choice was classified as aggressive or conservative depending upon the firm’s choice of accounting methods, accounting policies and accounting estimates. Level of disclosure is the quantum of financial and non-financial information disclosed in firm’s annual report, essentially in note to accounts section, schedules forming part of financial statements and Management Discussion and Analysis report. Regression models were developed with cost of equity as a dependent variable and accounting choice, level of disclosure as an independent variable along with selected control variables. Cost of equity was measured using Edward-Bell-Ohlson (EBO) valuation model, to measure accounting choice Modified-Jones-Model (MJM) was used and level of disclosure was measured using a disclosure index essentially drawn from Botosan study. Results indicated a negative association between the implied cost of equity and conservative accounting choice and also between level of disclosure and cost of equity.

Keywords: aggressive accounting choice, conservative accounting choice, disclosure, implied cost of equity

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Authors: Aayushi Lyngwa, Bimal Kishore Sahoo

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The study discusses the relationship between cognitive ability and the level of education attained by the tribal street entrepreneurs on their financial literacy. It is driven by the objective of examining the effect of cognitive ability on financial ability on the one hand and determining the effect of the same on financial literacy on the other. A field experiment was conducted on 203 tribal street vendors in the north-eastern Indian state of Mizoram. This experiment's calculations are conditioned by providing each question scores like math score (cognitive ability), financial score and debt score (financial ability). After that, categories for each of the variables, like math category (math score), financial category (financial score) and debt category (debt score), are generated to run the regression model. Since the dependent variable is ordinal, an ordered logit regression model was applied. The study shows that street vendors' cognitive and financial abilities are highly correlated. It, therefore, confirms that cognitive ability positively affects the financial literacy of street vendors through the increase in attainment of educational levels. It is also found that concerning the type of street vendors, regular street vendors are more likely to have better cognitive abilities than temporary street vendors. Additionally, street vendors with more cognitive and financial abilities gained better monthly profits and performed habits of bookkeeping. The study attempts to draw a particular focus on a set-up which is economically and socially marginalized in the Indian economy. Its finding contributes to understanding financial literacy in an understudied area and provides policy implications through inclusive financial systems solutions in an economy limited to tribal street vendors.

Keywords: financial literacy, education, street entrepreneurs, tribals, cognitive ability, financial ability, ordered logit regression.

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Authors: Ibrahim Ajani Tijani, C. W. Lim

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Limited studies have examined the effect of size on the mechanical behavior of confined concrete subjected to 3-dimensional (3D) test. With the novel 3D testing system to produce passive confinement, concrete cubes were tested to examine the effect of size on stress-strain behavior of the specimens. The effect of size on 3D stress-strain relationship was scrutinized and compared to the stress-strain relationship available in the literature. It was observed that the ultimate stress and the corresponding strain was related to the confining rigidity and size. The size shows a significant effect on the intersection stress and a new model was proposed for the intersection stress based on the conceptual design of the confining plates.

Keywords: concrete, aggregate size, size effect, 3D compression, passive confinement

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Authors: Parveen K. Saini, Tarun Agarwal

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An investigation into the effect of countersunk depth, plate thickness, countersunk angle and plate width on the stress concentration around countersunk hole is carried out with the help of finite element analysis. The variation of stress concentration with respect to these parameters is studied for three types of loading viz. uniformly distributed load, uniformly varying load and functionally distributed load. The results of the finite element analysis are interpreted and some conclusions are drawn. The distribution of stress concentration around countersunk hole in isotropic plates simply supported at all the edges is found similar and is independent of loading. The maximum stress concentration also occurs at a particular point irrespective of the loading conditions.

Keywords: stress concentration factor, countersunk hole, finite element, ANSYS

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Authors: Muhammad Akhtaruzzaman

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The impact of corporate environmental social and governance (ESG) on financial performance is often difficult to quantify despite the ESG related theories predict that ESG performance improves financial performance of a company. This research examines the link between corporate ESG performance and the financial performance of the NZX (New Zealand Stock Exchange) listed companies. For this purpose, this research utilizes mixed methods approaches to examine and understand this link. While quantitative results found no robust evidence of such a link, however, the qualitative analysis of content data suggests a strong cooccurrence exists between ESG performance and financial performance. The findings of this research have important implications for policymakers to support higher ESG-performing companies and for management practitioners to develop ESG-related strategies.

Keywords: ESG, financial performance, New Zealand firms, thematic analysis, mixed methods

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Authors: Flora Babongo, Valerie Chavez

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Inferring causality from observational data is one of the fundamental subjects, especially in quantitative finance. So far most of the papers analyze additive noise models with either linearity, nonlinearity or Gaussian noise. We fill in the gap by providing a nonlinear and non-gaussian causal multiplicative noise model that aims to distinguish the cause from the effect using a two steps method based on Bayesian additive models for location, scale and shape (BAMLSS) and on causal additive models (CAM). We have tested our method on simulated and real data and we reached an accuracy of 0.86 on average. As real data, we considered the causality between financial indices such as S&P 500, Nasdaq, CAC 40 and Nikkei, and companies' log-returns. Our results can be useful in inferring causality when the data is heteroskedastic or non-injective.

Keywords: causal inference, DAGs, BAMLSS, financial index

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Authors: Syafril Hendrik Hutabarat, Hartiwiningsih, Pujiyono Suwadi

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The Financial Service Authority (FSA) was formed as a response to the 1997 monetary crisis and the 2008 financial crisis so that it was more defensive in nature while developments in information and communication technology have required state policies to be more offensive to keep up with times. Reconstruction of Authorities of the FSA's Investigator is intended to keep the agency worthy to be part of an integrated criminal justice system in Indonesia which has implications for expanding its authority in line with efforts to protect and increase the welfare of the people. The results show that internal synergy between sub-sectors in the financial services sector is not optimised, some are even left behind so that the FSA is not truly an authority in the financial services sector. This research method is empirical. The goal of synergy must begin with internal synergy which has its moment when Indonesia gets a demographic bonus in the 2030s and becomes an international logistics hub supported by the national financial services sector.

Keywords: reconstruction, authorities, FSA investigators, synergy, demography

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Authors: Mohammad Vahedi Torshizi

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In this investigation, at first, bending stress, contact stress, Safety factor of bending and Safety factor of contact between sun gear and planet gear tooth was determined using mathematical equations. Also, The amount of Sun Revolution in, Speed carrier, power Transmitted of the sun, sun torque, sun peripheral speed, Enter the tangential force gears, was calculated using mathematical equations. According to the obtained results, maximum of bending stress and contact stress occurred in three plantary and low status of four plantary. Also, maximum of Speed carrier, sun peripheral speed, Safety factor of bending and Safety factor of contact obtained in four plantary and maximum of power Transmitted of the sun, Enter the tangential force gears, bending stress and contact stress was in three pantry and factors And other factors were equal in the two planets.

Keywords: bending stress, contact stress, plantary, mathematical equations

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Authors: Onwumere O. J.

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The teaching of stress at any level of education could be a daunting task for the second language teacher because most times, they are bereft of the right approach to use in teaching it even at the fact is that, teaching it. But the fact is that teaching stress even at the middle basic could be interesting if the right approach is employed. To this end, the researcher was of the view that grouping could be a very good strategy to employ in order to sustain the interest of the learner and that the use at drums would be a good way to concretise the teaching of stress at this level. He was able to do this by discussing stress, grouping as a good technique, and the use of drums in teaching stress. To establish the fact that the use of drums would be very effective, four research questions contained in a questionnaire were structured. Three hundred (300) teachers of English in four tertiary institutions, three secondary schools and three primary schools in Nigeria were used. Based on the data analysis and findings, suggestions were given on how teachers and learners could use drums to make the teaching and learning of stress enjoyable for both teachers and learners at the middle basic of education.

Keywords: concretise, grouping, right approach, second language

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Authors: Rafik Baouche, Rabah Chaouchi

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This work reports the first comprehensive stress field interpretation from the eleven recently drilled wells in the Berkaoui Basin, Algerian Sahara. A cumulative length of 7000+m acoustic image logs from 06 vertical wells were investigated, and a mean NW-SE (128°-145° N) maximum horizontal stress (SHMax) orientation is inferred from the B-D quality wellbore breakouts. The study integrates log-based approach with the downhole measurements to infer pore pressure, in-situ stress magnitudes. Vertical stress (Sv), interpreted from the bulk-density profiles, has an average gradient of 22.36 MPa/km. The Ordovician and Cambrian reservoirs have a pore pressure gradient of 13.47-13.77 MPa/km, which is more than the hydrostatic pressure regime. A 17.2-18.3 MPa/km gradient of minimum horizontal stress (Shmin) is inferred from the fracture closure pressure in the reservoirs. Breakout widths constrained the SHMax magnitude in the 23.8-26.5 MPa/km range. Subsurface stress distribution in the central Saharan Algeria indicates that the present-day stress field in the Berkaoui Basin is principally strike-slip faulting (SHMax > Sv > Shmin). Inferences are drawn on the regional stress pattern and drilling and reservoir development.

Keywords: stress, imagery, breakouts, sahara

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Authors: Tejeet Singh, Ishavneet Singh

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The present study focused on carrying out the creep analysis in an isotropic thick-walled composite cylindrical pressure vessel composed of aluminum matrix reinforced with silicon-carbide in particulate form. The creep behavior of the composite material has been described by the threshold stress based creep law. The values of stress exponent appearing in the creep law were selected as 3, 5 and 8. The constitutive equations were developed using well known von-Mises yield criteria. Models were developed to find out the distributions of creep stress and strain rate in thick-walled composite cylindrical pressure vessels under internal pressure. In order to obtain the stress distributions in the cylinder, the equilibrium equation of the continuum mechanics and the constitutive equations are solved together. It was observed that the radial stress, tangential stress and axial stress increases along with the radial distance. The cross-over was also obtained almost at the middle region of cylindrical vessel for tangential and axial stress for different values of stress exponent. The strain rates were also decreasing in nature along the entire radius.

Keywords: steady state creep, composite, cylinder, pressure

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Authors: Shama Urooj

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The present work investigates the relationship among financial inclusion, modernization, and energy performance in SCO member countries during the years 2011–2021. PCA is used to create composite indexes of financial inclusion, modernization, and energy performance. We used panel regression models that are both reliable and heteroscedasticity-consistent to look at the relationship among variables. The findings indicate that financial inclusion (FI) and modernization, along with the increased FDI, all appear to contribute to the energy performance in the SCO member countries. However, per capita GDP has a negative impact on energy performance. These results are unbiased and consistent with the robust results obtained by applying different econometric models. Feasible Generalized Least Square (FGLS) estimation is also used for checking the uniformity of the main model results. This research work concludes that there has been no policy coherence in SCO member countries regarding the coordination of growing financial inclusion and modernization for energy sustainability in recent years. In order to improve energy performance with modern development, policies regarding financial inclusion and modernization need be integrated both at national as well as international levels.

Keywords: financial inclusion, energy performance, modernization, technological development, SCO.

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Authors: Priyakant Vaghela, Jagdish Prajapati

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Bending stress at the root of the gear tooth is the very important criteria in gear design and it should be kept the minimum. Minimization of bending stress at the root of the gear tooth is a recent demand from industry. This paper presents an innovative approach to obtain minimum bending stress at the root of a tooth by optimizing tooth root profile and drive side pressure angle. Circular-filleted at the root of the tooth is widely used in the design. Circular fillet creates discontinuity at the root of the tooth. So, at root stress concentration occurs. In order to minimize stress concentration, an important criterion is a G2 continuity at the blending of the gear tooth. A Bezier curve is used with G2 continuity at the root of asymmetric spur gear tooth. The comparison has been done between normal and modified tooth using ANSYS simulation. Tooth root profile and drive side pressure angle are optimized to minimize bending stress at the root of the tooth of the asymmetric involute spur gear. Von Mises stress of optimized profile is analyzed and compared with normal profile symmetric gear. Von Mises stress is reducing by 31.27% by optimization of drive side pressure angle and root profile. Stress concentration of modified gear was significantly reduced.

Keywords: asymmetric spur gear tooth, G2 continuity, pressure angle, stress concentration at the root of tooth, tooth root stress

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Authors: F. Husem, M. E. Turan, Y. Sun, H. Ahlatci, I. Tozlu

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Residual stress and fatigue crack growth rates are important to determine mechanical behavior of rails. This study aims to make relationship between residual stress and fatigue crack growth values in rails. For this purpose, three R260 quality rails (0.6-0.8% C, 0.6-1.25 Mn) were chosen. Residual stress of samples was measured by cutting method that is related in railway standard. Then samples were machined for fatigue crack growth test and analyze was completed according to the ASTM E647 standard which gives information about parameters of rails for this test. Microstructure characterizations were examined by Light Optic Microscope (LOM). The results showed that residual stress change with fatigue crack growth rate. The sample has highest residual stress exhibits highest crack growth rate and pearlitic structure can be seen clearly for all samples by microstructure analyze.

Keywords: residual stress, fatigue crack growth, R260, SEM, ASTM E647

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Authors: Amin Derakhshan, Mohammad Mikaili, Mohammad Ali Khalilzadeh, Amin Mohammadian

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This paper proposes a stress recognition system from multi-modal bio-potential signals. For stress recognition, Support Vector Machines (SVM) and LDA are applied to design the stress classifiers and its characteristics are investigated. Using gathered data under psychological polygraph experiments, the classifiers are trained and tested. The pattern recognition method classifies stressful from non-stressful subjects based on labels which come from polygraph data. The successful classification rate is 96% for 12 subjects. It means that facial thermal imaging due to its non-contact advantage could be a remarkable alternative for psycho-physiological methods.

Keywords: stress, thermal imaging, face, SVM, polygraph

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Authors: Abdous Noureddine

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The problem of funding in Algeria emerged as a problem you need to study after many Algerians researchers pointed out that the faltering Algerian public economic institution due to the imbalance in the financial structures and lower steering and marketing efficiency, as well as a result of severe expansion of borrowing because of inadequate own resources, and the consequent inability This institution to repay loans and interest payments, in addition to increasing reliance on overdraft so used to finance fixed assets, no doubt that this deterioration requires research and study of the causes and aspects of treatment, which addresses the current study, aside from it.

Keywords: financial structure, financial capital, equity, debt, firm’s value, return, leverage

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Authors: C. F. Popoola, K. Akinsanya, S. B. Babarinde, D. A. Farinde

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This study investigated published financial statement as correlate of investment decision among commercial bank stakeholders in Nigeria. A correlation research design was used in the study. 180 users of published financial statement were purposively sampled from Lagos and Ibadan. Data generated were analyzed using Pearson correlation and regression. The findings of the study revealed that, balance sheet is negatively related with investment decision (r=-.483; p < .01) while income statement (r= .249; p < .001), notes on the account (r= .230; p < .001), cash flow statement (r= .202; p < .001), value added statement (r= .328; p < .001) and five-year financial summary (r= .191 ;p < .01) are positively related with investment decision. Findings also revealed that components of published financial statement significantly predicted good investment decision (R2= .983; F(5,175)=284.5; p < .05) for commercial bank stakeholders. Therefore, it was suggested that Nigeria banks and professional bodies should instigate programs that will increase the knowledge of stakeholders on published financial statement.

Keywords: commercial banks, financial statement, income statement, investment decision, stakeholders

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Authors: Jeonghun Lee

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Thyroid-stimulating hormone (TSH) is regulated by the negative feedback of T3 and T4 but is affected by cortisol and cytokines during allostasis. Hence, TSH levels can be influenced by stress through cortisol. In the present study, changes in TSH levels under stress and the potential of TSH as a stress marker were examined in patients lacking T3 or T4 feedback after thyroid surgery. The three stress questionnaires (Korean version of the Daily Stress Inventory, Social Readjustment Rating Scale, and Stress Overload Scale-Short [SOSS]), open-ended question (OQ), and thyroid function tests were performed twice in 106 patients enrolled from January 2019 to October 2020. Statistical analysis was performed using the generalized linear mixed effect model (GLMM) in R software version 4.1.0. In a multiple LMM involving 106 patients, T3, T4, SOSS (category), open-ended questions, the extent of thyroidectomy, and preoperative TSH were significantly correlated with lnTSH. T3 and T4 increased by 1 and lnTSH decreased by 0.03, 3.52, respectively. In case of a stressful event on OQ, lnTSH increased by 1.55. In the high-risk group, lnTSH increased by 0.79, compared with the low group (p<0.05). TSH had a significant relationship with stress, together with T3, T4, and the extent of thyroidectomy. As such, it has the potential to be used as a stress marker, though it showed a low correlation with other stress questionnaires. To address this limitation, questionnaires on various social environments and research on copy strategies are necessary for future studies.

Keywords: stress, surgery, thyroid stimulating hormone, thyroidectomy

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Authors: Bagher Bayat, Wouter Verhoef, Behnaz Arabi, Christiaan Van der Tol

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The aim of this study was to follow the canopy reflectance patterns in response to soil water deficit and to detect trends of changes in biophysical and biochemical parameters of grass (Poa pratensis species). We used visual interpretation, imaging spectroscopy and radiative transfer model inversion to monitor the gradual manifestation of water stress effects in a laboratory setting. Plots of 21 cm x 14.5 cm surface area with Poa pratensis plants that formed a closed canopy were subjected to water stress for 50 days. In a regular weekly schedule, canopy reflectance was measured. In addition, Leaf Area Index (LAI), Chlorophyll (a+b) content (Cab) and Leaf Water Content (Cw) were measured at regular time intervals. The 1-D bidirectional canopy reflectance model SAIL, coupled with the leaf optical properties model PROSPECT, was inverted using hyperspectral measurements by means of an iterative optimization method to retrieve vegetation biophysical and biochemical parameters. The relationships between retrieved LAI, Cab, Cw, and Cs (Senescent material) with soil moisture content were established in two separated groups; stress and non-stressed. To differentiate the water stress condition from the non-stressed condition, a threshold was defined that was based on the laboratory produced Soil Water Characteristic (SWC) curve. All parameters retrieved by model inversion using canopy spectral data showed good correlation with soil water content in the water stress condition. These parameters co-varied with soil moisture content under the stress condition (Chl: R2= 0.91, Cw: R2= 0.97, Cs: R2= 0.88 and LAI: R2=0.48) at the canopy level. To validate the results, the relationship between vegetation parameters that were measured in the laboratory and soil moisture content was established. The results were totally in agreement with the modeling outputs and confirmed the results produced by radiative transfer model inversion and spectroscopy. Since water stress changes all parts of the spectrum, we concluded that analysis of the reflectance spectrum in the VIS-NIR-MIR region is a promising tool for monitoring water stress impacts on vegetation.

Keywords: hyperspectral remote sensing, model inversion, vegetation responses, water stress

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Authors: Yosia Mulumba, Klaus Schmidt

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Financial Inclusion is considered a key pillar for development in most countries around the world. Access to affordable financial services in a country’s economy can be a driver to overcome poverty and reduce income inequalities, and thus increase economic growth. Nevertheless, the number of financially excluded populations in developing countries continues to be very high. This paper explores the role of Financial Technology (Fintech) as a key driver for achieving financial inclusion in developing countries post the COVID-19 pandemic with an emphasis on four East African countries: Kenya, Tanzania, Uganda, and Rwanda. The research paper is inspired by the positive disruption caused by the pandemic, which has compelled societies in East Africa to adapt and embrace the use of financial technology innovations, specifically Mobile Money Services (MMS), to access financial services. MMS has been further migrated and integrated with other financial technology innovations such as Mobile Banking, Micro Savings, and Loans, and Insurance, to mention but a few. These innovations have been adopted across key sectors such as commerce, health care, or agriculture. The research paper will highlight the Mobile Network Operators (MNOs) that are behind MMS, along with numerous innovative products and services being offered to the customers. It will also highlight the regulatory framework under which these innovations are being governed to ensure the safety of the customers' funds.

Keywords: financial inclusion, financial technology, regulatory framework, mobile money services

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Authors: Anurag Niranjan, Michael Fitzpatrick, Yin Jin Janin, Jazeel Chukkan, Niall Smyth

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Fillet welds are used in joining longitudinal stiffeners in ship structures. Welding residual stresses in fillet welds are generally distributed in a non-uniform manner, as shown in previous research the residual stress redistribution occurs under the cyclic loading that is experienced by such joints during service, and the combination of the initial residual stress, local constraints, and loading can alter the stress field in ways that are extremely difficult to predict. As the residual stress influences the crack propagation originating from the toe of the fillet welds, full understanding of the residual stress field and how it evolves is very important for structural integrity calculations. Knowledge of the residual stress redistribution in the presence of a flaw is therefore required for better fatigue life prediction. Moreover, defect assessment procedures such as BS7910 offer very limited guidance for flaw acceptance and the associated residual stress redistribution in the assessment of fillet welds. Therefore the objective of this work is to study a surface-breaking flaw at the weld toe region in a fillet weld under cyclic load, in conjunction with residual stress measurement at pre-defined crack depths. This work will provide details of residual stress redistribution under cyclic load in the presence of a crack. The outcome of this project will inform integrity assessment with respect to the treatment of residual stress in fillet welds. Knowledge of the residual stress evolution for this weld geometry will be greatly beneficial for flaw tolerance assessments (BS 7910, API 591).

Keywords: fillet weld, fatigue, residual stress, structure integrity

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Authors: Alev Atak

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We study the endogeneity in the cryptocurrency market over the branching ratio of the Hawkes process and evaluate the movement of self-excitability in the financial markets. We consider a semi-parametric self-exciting point process regression model where the excitation function is assumed to be smooth and decreasing but otherwise unspecified, and the baseline intensity is assumed to be a linear function of the regressors. We apply the empirical analysis to the three largest crypto assets, i.e. Bitcoin - Ethereum - Ripple, and provide a comparison with other financial assets such as SP500, Gold, and the volatility index VIX observed from January 2015 to December 2020. The results depict variable and high levels of endogeneity in the basket of cryptocurrencies under investigation, underlining the evidence of a significant role of endogenous feedback mechanisms in the price formation process.

Keywords: hawkes process, cryptocurrency, endogeneity, reflexivity

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Authors: Terri A. Croteau, Todd G. Morrison

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Despite increased scholarly attention paid to minority stress and sexual satisfaction among sexual minorities, to the authors’ knowledge, no researchers, to date, have attempted to synthesize this literature. To address this omission, the authors conducted a meta-analytic review of the association between sexual minority stress (i.e., sexual identity stigma, internalized sexual identity stigma, and sexual identity concealment) and sexual satisfaction. Twenty-seven articles containing 58 effect sizes were analyzed (N = 183,582). Findings indicated a small, inverse relationship between these constructs, indicating that minority stress may lead to diminished sexual satisfaction among gay/lesbian and bisexual individuals. Further, the overall effect size varied as a function of minority stress type, such that the effect for internalized stigma was significantly larger than the effects for stigma or concealment. Age also moderated the relationship between minority stress and sexual satisfaction; specifically, older age was associated with a smaller effect, suggesting that older adults may be better at coping with minority stress than younger adults. Limitations, implications, and directions for future research are discussed.

Keywords: minority stress, stigma, sexual satisfaction, sexual minorities

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Authors: Parvin Farzanegi

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Background: Diabetes is a metabolic disorder associated with increased free radicals and oxidative stress. The evidence indicates that physical inactivity is a modifiable behavioral risk factor for a wide range of chronic disorders such as diabetes mellitus. We investigated the effects of eight-week aerobic exercise on some antioxidant enzyme activities in postmenopausal women with type 2 diabetes mellitus (T2DM). Methods: sixteen sedentary postmenopausal women with T2DM were randomly assigned to the control (n=8; CG) and exercise group (n=8; EG). The exercise consisted of progressive aerobic training at a moderate intensity (50-70% of the maximum heart rate), for 25-60 min/day, and 3 days/week for 8 weeks. Age, sex, and body mass index were similar in the two groups. Antioxidant status was evaluated by measuring the superoxide dismutase (SOD) and catalase (CAT) activity. Also levels of malondialdehyde (MDA) as an index of lipid peroxidation and glucose in the plasma were measured before and after the intervention. Results: Following the 8 weeks of exercise training, the plasma MDA and glucose levels were significantly reduced in EG compared to CG (P=0.001 and P=0.011 respectively). However, SOD (P=0.017) and CAT (P=0.011) activities were increased in EG compared to CG. Conclusion: The present study suggests regular aerobic exercise appears can exert protective effects against oxidative stress due to its ability to increase antioxidant defense and glucose control in postmenopausal women with T2DM.

Keywords: aerobic exercise, antioxidant, diabetes mellitus, type 2

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Authors: Khodamorad Nabaki, Jianhu Shen, Xiaodong Huang

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This paper develops a method for considering the critical fatigue stress as a constraint in the Bi-directional Evolutionary Structural Optimization (BESO) method. Our aim is to reach an optimal design in which high cycle fatigue failure does not occur for a specific life time. The critical fatigue stress is calculated based on modified Goodman criteria and used as a stress constraint in our topology optimization problem. Since fatigue generally does not occur for compressive stresses, we use the p-norm approach of the stress measurement that considers the highest tensile principal stress in each point as stress measure to calculate the sensitivity numbers. The BESO method has been extended to minimize volume an object subjected to the critical fatigue stress constraint. The optimization results are compared with the results from the compliance minimization problem which shows clearly the merits of our newly developed approach.

Keywords: topology optimization, BESO method, p-norm, fatigue constraint

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Authors: Sana Masmoudi, Yosra Makni

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Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the formation of audit committees and their characteristics are associated with improved financial reporting quality. This study provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity, and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. Using data from, with a sample of 80 companies listed on the Amsterdam Stock Exchange during 2010-2017, the study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC-financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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Authors: Jeries J. Abou-Hanna

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Several techniques exist for determining stress-intensity factors in linear elastic fracture mechanics analysis. These techniques are based on analytical, numerical, and empirical approaches that have been well documented in literature and engineering handbooks. However, not all techniques share the same merit. In addition to overly-conservative results, the numerical methods that require extensive computational effort, and those requiring copious user parameters hinder practicing engineers from efficiently evaluating stress-intensity factors. This paper investigates the prospects of reducing the complexity and required variables to determine stress-intensity factors through the utilization of the stress gradient and a weighting function. The heart of this work resides in the understanding that fracture emanating from stress concentration locations cannot be explained by a single maximum stress value approach, but requires use of a critical volume in which the crack exists. In order to understand the effectiveness of this technique, this study investigated components of different notch geometry and varying levels of stress gradients. Two forms of weighting functions were employed to determine stress-intensity factors and results were compared to analytical exact methods. The results indicated that the “exponential” weighting function was superior to the “absolute” weighting function. An error band +/- 10% was met for cases ranging from a steep stress gradient in a sharp v-notch to the less severe stress transitions of a large circular notch. The incorporation of the proposed method has shown to be a worthwhile consideration.

Keywords: fracture mechanics, finite element method, stress intensity factor, stress gradient

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Authors: Aisha Bano, Rizwan Nazir

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The present study aimed at exploring the impact of meaning in life on psychological well-being and stress among university students. Victor Frankl's paradigm provided the theoretical foundation for this study. A sample of 560 university students was drawn from Quaid-i-Azam University Islamabad. The sample was drawn using stratified random sampling technique. Data were collected using Existence Scale, Warwick-Edinburg Mental Well-Being Scale, and Stress Scale. Results of linear regression analysis reveals that high perception of meaning in life will lead to high psychological well-being and low stress among university students. Non-significant differences are found on meaning in life variable with regard to gender in the sample using t-test. Together these results suggest that meaning in life independent of gender, is a significant predictor of the levels of stress and psychological well-being being directly related to psychological well-being and inversely related to stress levels.

Keywords: existential meaning in life, psychological well-being, stress, students

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Authors: Ghulam Hassan Abbasi, Moazzam Jamil, Ghazala Akhtar, M.Anwar-ul-Haq

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Heavy metals are significant pollutants in environment and their toxicity is a problem for survival of living things while salicylic acid (SA) is signaling and ubiquitous bioactive molecule that regulates cellular mechanism in plants under stress condition. Therefore, exogenous application of salicylic acid (SA) under chromium stress in two chickpea varieties were investigated in hydroponic experiment with five treatments comprising of control, 5 µM Cr + 5 mM SA, 5µM Cr + 10 mM SA, 10µM Cr + 5 mM SA, and 10µM Cr + 10 mM SA. Results revealed that treatments of plants with 10 mM SA application under both 5 µM Cr and 10 µM Cr stress resulted in maximum improvement in plant morphological attributes (root and shoot length, root and shoot fresh and dry weight, membrane stability index and relative water contents) relative to 5 mM SA application in both chickpea varieties. Results regarding Cr concentration showed that Cr was more retained in roots followed by shoots and maximum reduction in Cr uptake was observed at 10 mM SA application. Chickpea variety BRC-61 showed maximum growth and least concentration of Cr in root and shoot relative to BRC-390 variety.

Keywords: chromium, Chickpea, salicylic acid, growth

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Authors: A. Ritcey, J. R. Mcdermid, S. Ziada

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Wall shear stress was experimentally measured under a planar impinging air jet as a function of jet Reynolds number (Rejet = 5000, 8000, 11000) and different normalized impingement distances (H/D = 4, 6, 8, 10, 12) using the razor blade technique to complete a parametric study. The wall pressure, wall pressure gradient, and wall shear stress information were obtained.

Keywords: experimental fluid mechanics, impinging planar jets, skin friction factor, wall shear stress

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