Search results for: investment–cash flow sensitivity

Authors: P. Srinivasa Rao, K. Venkatesh Sharma, G. Sadhya Devi, V. Nagesh

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Privacy Preserving Data Publication is the main concern in present days because the data being published through the internet has been increasing day by day. This huge amount of data was named as Big Data by its size. This project deals the privacy preservation in the context of Big Data using a data warehousing solution called hive. We implemented Nearest Similarity Based Clustering (NSB) with Bottom-up generalization to achieve (v,l)-anonymity. (v,l)-Anonymity deals with the sensitivity vulnerabilities and ensures the individual privacy. We also calculate the sensitivity levels by simple comparison method using the index values, by classifying the different levels of sensitivity. The experiments were carried out on the hive environment to verify the efficiency of algorithms with Big Data. This framework also supports the execution of existing algorithms without any changes. The model in the paper outperforms than existing models.

Keywords: sensitivity, sensitive level, clustering, Privacy Preserving Data Publication (PPDP), bottom-up generalization, Big Data

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Authors: Bernadette F. De La Cruz, Susan Marie R. Dela Cruz, Georgia D. Demavibas

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Pantawid Pamilyang Pilipino Program (4P) is a conditional cash transfer program in the Philippines pay extremely poor household-beneficiaries in order to fulfill the country’s commitment to the number one of the Millennium Development Goals (MDG). 4P's send 10,235,256 school children aged 6-18 from a total of 4,353,597 registered households with an average of two to three children. We analyze this program in Iloilo, Philippines. We show that this program can be made efficient by selecting beneficiaries and calibrating transfer for a maximum breaking of intergenerational poverty cycle of hunger, health and achieve higher education.

Keywords: ESGP-PA, millennium development goals, house hold beneficiaries, cash transfer

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Authors: Cemre Polat, Mustafa Soyler, Bulent Yaniktepe, Coskun Ozalp

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In this study, it was aimed to control the flow actively by giving an oscillating rotational motion to a vertically placed cylinder, and flow characteristics were determined. In the study, firstly, the flow structure around the flat cylinder was investigated with dye experiments, and then the cylinders with different oscillation angles (θ = 60°, θ = 120°, and θ = 180°) and different rotation speeds (15 rpm and 30 rpm) the flow structure around it was examined. Thus, the effectiveness of oscillation and rotation speed in flow control has been investigated. In the dye experiments, the dye/water mixture obtained by mixing Rhodamine 6G in powder form with water, which shines under laser light and allows detailed observation of the flow structure, was used. During the experiments, the dye was injected into the flow with the help of a thin needle at a distance that would not affect the flow from the front of the cylinder. In dye experiments, 100 frames per second were taken with a Canon brand EOS M50 (24MP) digital mirrorless camera at a resolution of 1280 * 720 pixels. Then, the images taken were analyzed, and the pictures representing the flow structure for each experiment were obtained. As a result of the study, it was observed that no separation points were formed at 180° swing angle at 15 rpm speed, 120° and 180° swing angle at 30 rpm, and the flow was controlled according to the fixed cylinder.

Keywords: active flow control, cylinder, flow visualization rotationally oscillating

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Authors: O. Badagadze, G. Sirbiladze, I. Khutsishvili

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The work proposes a decision support methodology for the credit risk minimization in selection of investment projects. The methodology provides two stages of projects’ evaluation. Preliminary selection of projects with minor credit risks is made using the Expertons Method. The second stage makes ranking of chosen projects using the Possibilistic Discrimination Analysis Method. The latter is a new modification of a well-known Method of Fuzzy Discrimination Analysis.

Keywords: expert valuations, expertons, investment project risks, positive and negative discriminations, possibility distribution

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Authors: Zhuoneng Li, Zeeshan A. Rana, Karl W. Jenkins

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In industry, to validate a case, often a multitude of simulation are required and in order to demonstrate confidence in the process where users tend to use a coarser mesh. Therefore, it is imperative to establish the coarsest mesh that could be used while keeping reasonable simulation accuracy. To date, the two most reliable, affordable and broadly used advanced simulations are the hybrid RANS (Reynolds Averaged Navier Stokes)/LES (Large Eddy Simulation) and wall modelled LES. The potentials in these two simulations will still be developed in the next decades mainly because the unaffordable computational cost of a DNS (Direct Numerical Simulation). In the wall modelled LES, the turbulence model is applied as a sub-grid scale model in the most inner layer near the wall. The RANS turbulence models cover the entire boundary layer region in a hybrid RANS/LES (Detached Eddy Simulation) and its variants, therefore, the RANS still has a very important role in the state of art simulations. This research focuses on the turbulence model mesh sensitivity analysis where various turbulence models such as the S-A (Spalart-Allmaras), SSG (Speziale-Sarkar-Gatski), K-Omega transitional SST (Shear Stress Transport), K-kl-Omega, γ-Reθ transitional model, v2f are evaluated within the OpenFOAM. The simulations are conducted on a fully developed turbulent flow over a flat plate where the skin friction coefficient as well as velocity profiles are obtained to compare against experimental values and DNS results. A concrete conclusion is made to clarify the mesh sensitivity for different turbulence models.

Keywords: mesh sensitivity, turbulence models, OpenFOAM, RANS

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Authors: Ruqiya Anwar

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The present study is aimed to find out the Impact of Foreign direct Investment on lifestyle of working women in Rawalpindi and Islamabad (Pakistan). It was hypothesized that easy access to consumer loans uplifts the lifestyle of women. First part of the research study was aimed at developing a tool to measure the Impact of FDI on living pattern of women in Rawalpindi and Islamabad. Purposive sampling technique was used to collect the more reliable and valid data.81 females working in different banks of Rawalpindi and Islamabad (Pakistan) were included in the sample. The value of Alpha Reliability coefficient is .774 for the tool of study. Which was found satisfactory and indicated that tool is reliable to measure the study objectives. Finding of the study showed that foreign direct investment has significant and positive impact on lifestyle of women in Rawalpindi and Islamabad (Pakistan). Study also revealed that there is moderate and high level of consumption power women have through foreign direct investment, which supports the hypothesis.

Keywords: foreign direct investment, lifestyle of women, consumption power, consumer loans

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Authors: Mehdi Fuladipanah, Mehdi Jorabloo

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Water flow management is one of the most important parts of river engineering. Non-uniformity distribution of rainfall and various flow demand with unreasonable flow management will be caused destroyed of the river ecosystem. Then, it is severe to determine ecosystem flow requirement. In this paper, Flow duration curve indices method which has hydrological based was used to evaluate environmental flow in Gharasou River, Ardabil, Iran. Using flow duration curve, Q90 and Q95 for different return periods were calculated. Their magnitude was determined as 1-day, 3-day, 7-day, and 30 days. According to the second method, hydraulic alteration indices often had low and medium range. To maintain river at an acceptable ecological condition, minimum daily discharge of index Q95 is 0.7 m^3.s^-1.

Keywords: Gharasou River, water flow management, non-uniformity distribution, ecosystem flow requirement, hydraulic alteration

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Authors: Misganaw Ayele Gelaw

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This abstract presents an overview of agricultural investment in Ethiopia, with a focus on the Oromia Region. Ethiopia is a developing country that heavily relies on agriculture as a major contributor to its economic growth and employment. The Oromia Region, located in the central part of the country, is the largest region in Ethiopia and plays a significant role in the agricultural sector. The study aims to explore the current state of agricultural investment in the Oromia Region, focusing on the opportunities, challenges, and potential benefits that arise from such investments. It also highlights the key agricultural investment strategies and policies implemented by the Ethiopian government to attract domestic and foreign investors. To achieve these objectives, a comprehensive literature review and analysis of relevant reports, publications, and government policies will be conducted. The study will also incorporate qualitative and quantitative data collection methods, such as interviews, surveys, and statistical analysis, to provide a well-rounded understanding of agricultural investment dynamics in the Oromia Region. The findings of this study are expected to shed light on the impact of agricultural investments on local farmers, rural development, food security, income generation, and overall economic growth in the Oromia Region. It will also identify the key risk factors and potential mitigations associated with agricultural investment, offering recommendations to policymakers, investors, and stakeholders to improve the effectiveness and sustainability of investment efforts in the region. This abstract highlights the importance of agricultural investment in the Oromia Region and Ethiopia as a whole, as it strives to enhance productivity, increase farmers' income, and contribute to the country's long-term development goals. By understanding the challenges and opportunities associated with agricultural investment, policymakers and investors can develop targeted strategies to ensure inclusive and sustainable growth in the agricultural sector, leading to improved livelihoods and economic prosperity in the Oromia Region.

Keywords: agriculture, investment, agriculture policy, economy

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Authors: Mehdi Shekarzadeh, Pejman Taghipour Birgani

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In this paper, the effect of mass and height of tip on the flexural vibration modes of an atomic force microscope (AFM) rectangular cantilever is analyzed. A closed-form expression for the sensitivity of vibration modes is derived using the relationship between the resonant frequency and contact stiffness of cantilever and sample. Each mode has a different sensitivity to variations in surface stiffness. This sensitivity directly controls the image resolution. It is obtained an AFM cantilever is more sensitive when the mass of tip is lower and the first mode is the most sensitive mode. Also, the effect of changes of tip height on the flexural sensitivity is negligible.

Keywords: atomic force microscope, AFM, vibration analysis, flexural vibration, cantilever

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Authors: Uche A. Ibekwe

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Pension funds are pooled assets which are established to provide income for retirees. The funds are usually regulated to check excessive risk taking by fund managers. In Nigeria, the current defined contribution (DC) pension scheme appears to contain some overly stringent restrictions which might be hampering its successful implementation. Notable among these restrictions is the 25 percent maximum limit on investment in ordinary shares of quoted companies. This paper examines the extent to which these restrictions affect pension replacement rates at retirement. The study made use of both simulated and historical asset return distributions using mean-variance, regression analysis and ruin-risk analyses, the study found that the current equity investment restriction policy in Nigeria reduces replacement rates at retirement.

Keywords: equity investment, replacement rates, restrictions, ruin-risk

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Authors: Salwa Aftab, Sehrish Riaz

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The objective of this study was to check the impact of grade sensitivity on learning motivation and academic performance of students and to remove the degree of difference that exists among students regarding the cause of their learning motivation and also to gain knowledge about this matter since it has not been adequately researched. Data collection was primarily done through the academic sector of Pakistan and was depended upon the responses given by students solely. A sample size of 208 university students was selected. Both paper and online surveys were used to collect data from respondents. The results of the study revealed that grade sensitivity has a positive relationship with the learning motivation of students and their academic performance. These findings were carried out through systematic correlation and regression analysis.

Keywords: academic performance, correlation, grade sensitivity, learning motivation, regression

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Authors: Shilpi Tripathi

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India has adopted the policy of economic reforms (Globalization, Liberalization, and Privatization) in 1991 which has reduced the trade barriers and investment restrictions and further increased the economy’s international trade, foreign direct investment (FDI) inflows and Gross Domestic Product (GDP) growth. The paper empirically studies the relationship between India’s international trades, GDP, FDI and environment during 1978-2012. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO2). The second part focuses on the literature regarding the relationship among all the variables. The last part of paper, we examine the results of empirical analysis like co integration and Granger causality between foreign trade, FDI inflows, GDP and CO2 since 1978. The findings of the paper revealed that there is only one uni- directional causality exists between GDP and trade. The direction of causality reveals that international trade is one of the major contributors to the economic growth (GDP). While, there is no causality found between GDP and FDI, FDI, and CO2 and International trade and CO2. The paper concludes with the policy recommendations that will ensure environmental friendly trade, investment and growth in India for future.

Keywords: international trade, foreign direct investment, GDP, CO2, co-integration, granger causality test

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Authors: Zaaraoui Abdelkader, Kerfah Rabeh, Noura Belkheir, Matene Elhacene

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The trapezoidal bluff body is a typical configuration of vortex shedding bodies. The aim of this work is to study flow behaviour over a trapezoidal cylinder at low Reynolds number. The geometry was constructed from a prototype device for measuring the volumetric flow-rate by counting vortices. Simulations were run for this geometry under steady and unsteady flow conditions using finite volume discretization. Laminar flow was investigated in this model with rigid walls and homogeneous incompressible Newtonian fluid. Calculations were performed for Reynolds number range 5 ≤ Re ≤ 180 and several flow parameters were documented. The present computations are in good agreement with the experimental observations and the numerical calculations by several investigators.

Keywords: bluff body, confined flow, numerical calculations, steady and unsteady flow, vortex shedding flow meter

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Authors: K. Y. Chen, H. Chua, C. W. Kan

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Japan is a well-developed country but the environmental issues are still a hot issue. In this study, we will analyse how the environmental investment affects the sustainable development in Japan. This paper will first describe the environmental policy of Japan and the effort input by the Japan government. Then, we will collect the yearly environmental data and also information about the environmental investment. Based on the data collected, we try to figure out the relationship between environmental investment and sustainable development in Japan. In addition, we will analyse the SWOT of environmental investment in Japan. Based on the economic information collected, Japan established a sound material-cycle society through changes in business and life styles. A comprehensive legal system for this kind of society was established in Japan. In addition, other supporting measures, such as financial measures, utilization of economic instruments, implementation of research and promotion of education and science and technology, help Japan to cope with the recent environmental challenges. Japan’s excellent environmental technologies changed its socioeconomic system. They are at the highest global standards. This can be reflected by the number of patents registered in Japan which has been on the steady growth. Country by country comparison in the application for patents on environmental technologies also indicates that Japan ranks high in such areas as atmospheric pollution and water quality management, solid waste management and renewable energy. This is a result of the large expenditure invested on research and development.

Keywords: Japan, environmental investment, sustainable development, analysis

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Authors: Malika Imoula, Rachid Saci, Renee Gatignol

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A numerical investigation is carried out to analyze vortex flows in a free surface cylinder, driven by the independent rotation and differentially heated boundaries. As a basic uncontrolled isothermal flow, we consider configurations which exhibit steady axisymmetric toroidal type vortices which occur at the free surface; under given rates of the bottom disk uniform rotation and for selected aspect ratios of the enclosure. In the isothermal case, we show that sidewall differential rotation constitutes an effective kinematic means of flow control: the reverse flow regions may be suppressed under very weak co-rotation rates, while an enhancement of the vortex patterns is remarked under weak counter-rotation. However, in this latter case, high rates of counter-rotation reduce considerably the strength of the meridian flow and cause its confinement to a narrow layer on the bottom disk, while the remaining bulk flow is diffusion dominated and controlled by the sidewall rotation. The main control parameters in this case are the rotational Reynolds number, the cavity aspect ratio and the rotation rate ratio defined. Then, the study proceeded to consider the sensitivity of the vortex pattern, within the Boussinesq approximation, to a small temperature gradient set between the ambient fluid and an axial thin rod mounted on the cavity axis. Two additional parameters are introduced; namely, the Richardson number Ri and the Marangoni number Ma (or the thermocapillary Reynolds number). Results revealed that reducing the rod length induces the formation of on-axis bubbles instead of toroidal structures. Besides, the stagnation characteristics are significantly altered under the combined effects of buoyant-thermocapillary convection. Buoyancy, induced under sufficiently high Ri, was shown to predominate over the thermocapillay motion; causing the enhancement (suppression) of breakdown when the rod is warmer (cooler) than the ambient fluid. However, over small ranges of Ri, the sensitivity of the flow to surface tension gradients was clearly evidenced and results showed its full control over the occurrence and location of breakdown. In particular, detailed timewise evolution of the flow indicated that weak thermocapillary motion was sufficient to prevent the formation of toroidal patterns. These latter detach from the surface and undergo considerable size reduction while moving towards the bulk flow before vanishing. Further calculations revealed that the pattern reappears with increasing time as steady bubble type on the rod. However, in the absence of the central rod and also in the case of small rod length l, the flow evolved into steady state without any breakdown.

Keywords: buoyancy, cylinder, surface tension, toroidal vortex

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Authors: M. Sanjarani, A. Danehkar, A. Mashincheyan, A. H. Javid, S. M. R. Fatemi

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The oil spill in marine water has direct impact on coastal resources and community. Environmental Sensitivity Index (ESI) map is the first step to assess the potential impact of an oil spill and minimize the damage of coastal resources. In order to create Environmental Sensitivity Maps for the Chabahar bay (Iran), information has been collected in three different layers (Shoreline Classification, Biological and Human- uses resources) by means of field observations and measurements of beach morphology, personal interviews with professionals of different areas and the collection of bibliographic information. In this paper an attempt made to prepare an ESI map for sensitivity to oil spills of Chabahar bay coast. The Chabahar bay is subjected to high threaten to oil spill because of port, dense mangrove forest,only coral spot in Oman Sea and many industrial activities. Mapping the coastal resources, shoreline and coastal structures was carried out using Satellite images and GIS technology. The coastal features classified into three major categories as: Shoreline Classification, Biological and Human uses resources. The important resources classified into mangrove, Exposed tidal flats, sandy beach, etc. The sensitivity of shore was ranked as low to high (1 = low sensitivity,10 = high sensitivity) based on geomorphology of Chabahar bay coast using NOAA standards (sensitivity to oil, ease of clean up, etc). Eight ESI types were found in the area namely; ESI 1A, 1C, 3A, 6B, 7, 8B,9A and 10D. Therefore, in the study area, 50% were defined as High sensitivity, less than 1% as Medium, and 49% as low sensitivity areas. The ESI maps are useful to the oil spill responders, coastal managers and contingency planners. The overall ESI mapping product can provide a valuable management tool not only for oil spill response but for better integrated coastal zone management.

Keywords: ESI, oil spill, GIS, Chabahar Bay, Iran

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Authors: Cristian Păuna

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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: algorithmic trading, automated trading systems, high-frequency trading, DAX Deutscher Aktienindex

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Authors: J. Y. Heo, H. G. Sung

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Numerical simulations have been performed for assessment of compressibility correction of two-equation turbulence models suitable for large scale separation flows perturbed by pintle strokes. In order to take into account pintle movement, a sliding mesh method was applied. The chamber pressure, mass flow rate, and thrust have been analyzed, and the response lag and sensitivity at the chamber and nozzle were estimated for a movable pintle. The nozzle performance for pintle reciprocating as its insertion and extraction processes, were analyzed to better understand the dynamic performance of the pintle nozzle.

Keywords: pintle, sliding mesh, turbulent model, compressibility correction

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Authors: Yadollah Hezarjaribi, Mahdie Yari Esboi

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In this paper, a novel MEMS capacitive pressure sensor with small size and high sensitivity is presented. This sensor has the separated clamped square diaphragm and the movable plate. The diaphragm material is polysilicon. The movable and fixed plates and mechanical coupling are gold. The substrate and diaphragm are pyrex glass and polysilicon, respectively. In capacitive sensor the sensitivity is proportional to deflection and capacitance changes with pressure for this reason with this design is improved the capacitance and sensitivity with small size. This sensor is designed for low pressure between 0-60 mmHg that is used for medical application such as treatment of an incurable disease called glaucoma. The size of this sensor is 350×350 µm2 and the thickness of the diaphragm is 2µm with 1μ air gap. This structure is designed by intellisuite software. In this MEMS capacitive pressure sensor the sensor sensitivity, diaphragm mechanical sensitivity for polysilicon diaphragm are 0.0469Pf/mmHg, 0.011 μm/mmHg, respectively. According to the simulating results for low pressure, the structure with polysilicon diaphragm has more change of the displacement and capacitance, this leads to high sensitivity than other diaphragms.

Keywords: glaucoma, MEMS capacitive pressure sensor, square clamped diaphragm, polysilicon

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Authors: Alicja Reuben, Amira Annabi

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In this paper, we explore the relationship between the selection of valuation techniques by investment banks and the banks’ risk perceptions and performance in the context of the theory of performativity. We use inferential statistics to study these relationships by building a unique dataset based on the disclosure of 12 investment banks’ 2012-2015 annual financial statements. Moreover, we create two constructs, namely intensity of use and risk perception. We measure the intensity of use as a frequency metric of how often a particular bank adopts valuation techniques for a particular asset or liability. We measure risk perception based on disclosed ranges of values for unobservable inputs. Our results are twofold: we find a significant negative correlation between (1) intensity of use and investment bank performance and (2) intensity of use and risk perception. These results indicate that a performative process takes place, and the valuation techniques are enacting their environment.

Keywords: language, linguistics, performativity, financial techniques

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Authors: Pushpendra Kumar, Sanjeev Kumar, R. Balasubramanian

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Estimation of optical flow from a sequence of images using variational methods is one of the most successful approach. Discontinuity between different motions is one of the challenging problem in flow estimation. In this paper, we design a new anisotropic diffusion operator, which is able to provide smooth flow over a region and efficiently preserve discontinuity in optical flow. This operator is designed on the basis of intensity differences of the pixels and isotropic operator using exponential function. The combination of these are used to control the propagation of flow. Experimental results on the different datasets verify the robustness and accuracy of the algorithm and also validate the effect of anisotropic operator in the discontinuity preserving.

Keywords: optical flow, variational methods, computer vision, anisotropic operator

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Authors: Sonal Khosla

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A research is proposed in the present paper to explore the role of flow in coping with traumatic experiences and attaining post-traumatic growth. A grounded theory research is proposed to be carried by analyzing memoirs of people who have been through trauma. A pilot study was carried out on two memoirs of women who were held captive for over ten years and were sexually assaulted repeatedly. The role of flow in their coping experiences was explored by analyzing the books. Some of the flow activities that were used by them were- drawing and daydreaming. Their narratives show the evidence for flow as having cathartic and healing effects on them. Applicability of the findings can take two forms: 1. Flow can be applied as a preventive technique to help the people who are going through trauma, 2. Flow can be adopted into a positive intervention to help people suffering from PTSD.

Keywords: flow, positive intervention, PTSD, PTG

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Authors: Cristian Crespo

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Conditional cash transfers (CCTs) have been targeted towards the poor. Thus, their targeting assessments check whether these schemes have been allocated to low-income households or individuals. However, CCTs have more than one goal and target group. An additional goal of CCTs is to increase school enrolment. Hence, students at risk of dropping out of school also are a target group. This paper analyses whether one of the most common targeting mechanisms of CCTs, a proxy means test (PMT), is suitable to identify the poor and future school dropouts. The PMT is compared with alternative approaches that use the outputs of a predictive model of school dropout. This model was built using machine learning algorithms and rich administrative datasets from Chile. The paper shows that using machine learning outputs in conjunction with the PMT increases targeting effectiveness by identifying more students who are either poor or future dropouts. This joint targeting approach increases effectiveness in different scenarios except when the social valuation of the two target groups largely differs. In these cases, the most likely optimal approach is to solely adopt the targeting mechanism designed to find the highly valued group.

Keywords: conditional cash transfers, machine learning, poverty, proxy means tests, school dropout prediction, targeting

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Authors: Ying Zhu

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Recent years have witnessed a boom of foreign investments in the field of artificial intelligence (AI). Foreign investments provide critical capital for AI development but also trigger national security concerns of host states. A notable example is an increasing number of cases in which the Committee on Foreign Investment in the United States (CFIUS) has denied Chinese acquisitions of US technology companies on national security grounds. On July 19, 2018, the Congress has reached a deal on the final draft of a new provision to strengthen CFIUS’s authority to review overseas transactions involving sensitive US technology. The question is: how to reconcile the emerging tension between, on the one hand, foreign AI investors’ expectations of a predictable investment environment, and on the other hand, host states’ regulatory power on national security? This paper provides a methodology to reconcile this tension under international investment law. Based on an examination, the national security exception clauses in international investment treaties and the application of national security justification in investor-state arbitration jurisprudence, the paper argues that a traditional interpretation of the national security exception, based on the necessity concept in customary international law, fails to take into account new risks faced by countries, including security concerns over strategic industries such as AI. To overcome this shortage, the paper proposes to incorporate an integrated national security clause in international investment treaties, which includes a two-tier test: a ‘self-judging’ test in the pre-establishment period and a ‘proportionality’ test in the post-establishment period. At the end, the paper drafts a model national security clause for future treaty-drafting practice.

Keywords: foreign investment, artificial intelligence, international investment law, national security exception

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Authors: K. Y. Chen, H. Chua, C. W. Kan

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In this study, we will analyze Germany’s environmental situation such as water and air quality and review its environmental policy. In addition, we will collect the yearly environmental data as well as information concerning public environmental investment. Based on the data collect, we try to find out the relationship between public environmental investment and sustainable development in Germany. In addition, after comparing the trend of environmental quality and situation of environmental policy and investment, we may have some conclusions and learnable aspects to refer to. Based upon the data collected, it was revealed that Germany has established a well-developed institutionalization of environmental education. And the ecological culture at school is dynamic and continuous renewal. The booming of green markets in Germany is a very successful experience for learning. The green market not only creates a number of job opportunities, but also helps the government to improve and protect the environment. Acknowledgement: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: Germany, public environmental investment, environment quality, sustainable development

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Authors: Taher Abofol, Eldad Yechiam, Thorsten Pachur

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In four studies, we examined whether seller and buyers differ not only in subjective price levels for objects (i.e., the endowment effect) but also in their relative accuracy given objects varying in expected value. If, as has been proposed, sellers stand to accrue a more substantial loss than buyers do, then their pricing decisions should be more sensitive to expected-value differences between objects. This is implied by loss aversion due to the steeper slope of prospect theory’s value function for losses than for gains, as well as by loss attention account, which posits that losses increase the attention invested in a task. Both accounts suggest that losses increased sensitivity to relative values of different objects, which should result in better alignment of pricing decisions to the objective value of objects on the part of sellers. Under loss attention, this characteristic should only emerge under certain boundary conditions. In Study 1 a published dataset was reanalyzed, in which 152 participants indicated buying or selling prices for monetary lotteries with different expected values. Relative EV sensitivity was calculated for participants as the Spearman rank correlation between their pricing decisions for each of the lotteries and the lotteries' expected values. An ANOVA revealed a main effect of perspective (sellers versus buyers), F(1,150) = 85.3, p < .0001 with greater EV sensitivity for sellers. Study 2 examined the prediction (implied by loss attention) that the positive effect of losses on performance emerges particularly under conditions of time constraints. A published dataset was reanalyzed, where 84 participants were asked to provide selling and buying prices for monetary lotteries in three deliberations time conditions (5, 10, 15 seconds). As in Study 1, an ANOVA revealed greater EV sensitivity for sellers than for buyers, F(1,82) = 9.34, p = .003. Importantly, there was also an interaction of perspective by deliberation time. Post-hoc tests revealed that there were main effects of perspective both in the condition with 5s deliberation time, and in the condition with 10s deliberation time, but not in the 15s condition. Thus, sellers’ EV-sensitivity advantage disappeared with extended deliberation. Study 3 replicated the design of study 1 but administered the task three times to test if the effect decays with repeated presentation. The results showed that the difference between buyers and sellers’ EV sensitivity was replicated in repeated task presentations. Study 4 examined the loss attention prediction that EV-sensitivity differences can be eliminated by manipulations that reduce the differential attention investment of sellers and buyers. This was carried out by randomly mixing selling and buying trials for each participant. The results revealed no differences in EV sensitivity between selling and buying trials. The pattern of results is consistent with an attentional resource-based account of the differences between sellers and buyers. Thus, asking people to price, an object from a seller's perspective rather than the buyer's improves the relative accuracy of pricing decisions; subtle changes in the framing of one’s perspective in a trading negotiation may improve price accuracy.

Keywords: decision making, endowment effect, pricing, loss aversion, loss attention

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Authors: Gabrielle Veloso, Melanie Porter, Kelsie Boulton, Adam Guastella

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The aim of the current systematic review was to examine child and parent factors and their associations with parent sensitivity towards children with Autism Spectrum Disorder (ASD). Eight bibliographic databases were used to identify peer-reviewed journal articles examining these associations via quantitative analyses, with parent sensitivity measured via validated and reliable observation coding systems. Thirty-one studies were finalized as having met full criteria for inclusion. The review found agreement across studies that parent sensitivity was positively associated with the child’s initiations and responsiveness toward their parent, with more frequent parent-directed behaviors providing greater opportunity for parents to act and react in sensitive manner. There was also substantial evidence that parent sensitivity predicted later growth in child language ability and child social skills. Other factors such as child attachment, parent insightfulness toward their child, and parent resolution of the diagnosis were also identified across a number of studies as being positively associated with parent sensitivity, however, interpretations of these findings were limited by the absence of covariates identified in the literature as explaining much of the variance in parent sensitivity. With respect to non-significant associations, the literature reliably found that parents showed sensitivity toward their child with ASD, regardless of child age, ASD symptomology, concurrent child social skills, and concurrent child cognitive abilities. The robust associations found in this review and their potential explanations can serve as a jump off point in identifying an understanding protective and risk factors for families of children with ASD. With regard to future directions in research, assessment of the studies’ methodological quality identified points for improvement with respect to the measurement of parent sensitivity, as well as the consideration of several important methodological confounds that may be controlled for in statistical analyses.

Keywords: ASD, autism, parenting, parent sensitivity

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Authors: A. N. Ghafar, O. A. Chaudhari, W. Oettel, P. Fontana

Abstract:

This study is a part of the EU project GEOCOND-Advanced materials and processes to improve performance and cost-efficiency of shallow geothermal systems and underground thermal storage. In heat exchange boreholes, to improve the heat transfer between the pipes and the surrounding ground, the space between the pipes and the borehole wall is normally filled with geothermal grout. Traditionally, bentonite has been a crucial component in most commercially available geothermal grouts to assure the required stability and impermeability. The investigations conducted in the early stage of this project during the benchmarking tests on some commercial grouts showed considerable sensitivity of the rheological properties of the tested grouts to the mixing parameters, i.e., mixing time and velocity. Further studies on this matter showed that bentonite, which has been one of the important constituents in most grout mixes, was probably responsible for such behavior. Apparently, proper amount of shear should be applied during the mixing process to sufficiently activate the bentonite. The higher the amount of applied shear the more the activation of bentonite, resulting in change in the grout rheology. This explains why, occasionally in the field applications, the flow properties of the commercially available geothermal grouts using different mixing conditions (mixer type, mixing time, mixing velocity) are completely different than expected. A series of tests were conducted on the grout mixes, with and without bentonite, using different mixing protocols. The aim was to eliminate/reduce the sensitivity of the rheological properties of the geothermal grouts to the mixing parameters by replacing bentonite with polymeric (non-clay) stabilizers. The results showed that by replacing bentonite with a proper polymeric stabilizer, the sensitivity of the grout mix on mixing time and velocity was to a great extent diminished. This can be considered as an alternative for the developers/producers of geothermal grouts to provide enhanced materials with less uncertainty in obtained results in the field applications.

Keywords: flow properties, geothermal grout, mixing time, mixing velocity, rheological properties

Procedia PDF Downloads 100

Authors: Silas A. Ihedioha

Abstract:

In this work; it is considered that an investor’s portfolio is comprised of two assets; a risky stock which price process is driven by the geometric Brownian motion and a risk-free asset with Ornstein-Uhlenbeck Stochastic interest rate of return, where consumption, taxes, transaction costs and dividends are involved. This paper aimed at the optimization of the investor’s expected utility of consumption and terminal return on his investment at the terminal time having power utility preference. Using dynamic optimization procedure of maximum principle, a second order nonlinear partial differential equation (PDE) (the Hamilton-Jacobi-Bellman equation HJB) was obtained from which an ordinary differential equation (ODE) obtained via elimination of variables. The solution to the ODE gave the closed form solution of the investor’s problem. It was found the optimal investment in the risky asset is horizon dependent and a ratio of the total amount available for investment and the relative risk aversion coefficient.

Keywords: optimal, investment, Ornstein-Uhlenbeck, utility maximization, stochastic interest rate, maximum principle

Procedia PDF Downloads 190

Authors: Bohuslava Juhasova, Martin Juhas, Renata Masarova, Zuzana Sutova

Abstract:

The article deals with the tool in Matlab GUI form that is designed to analyse a mechatronic system sensitivity and tolerance. In the analysed mechatronic system, a torque is transferred from the drive to the load through a coupling containing flexible elements. Different methods of control system design are used. The classic form of the feedback control is proposed using Naslin method, modulus optimum criterion and inverse dynamics method. The cascade form of the control is proposed based on combination of modulus optimum criterion and symmetric optimum criterion. The sensitivity is analysed on the basis of absolute and relative sensitivity of system function to the change of chosen parameter value of the mechatronic system, as well as the control subsystem. The tolerance is analysed in the form of determining the range of allowed relative changes of selected system parameters in the field of system stability. The tool allows to analyse an influence of torsion stiffness, torsion damping, inertia moments of the motor and the load and controller(s) parameters. The sensitivity and tolerance are monitored in terms of the impact of parameter change on the response in the form of system step response and system frequency-response logarithmic characteristics. The Symbolic Math Toolbox for expression of the final shape of analysed system functions was used. The sensitivity and tolerance are graphically represented as 2D graph of sensitivity or tolerance of the system function and 3D/2D static/interactive graph of step/frequency response.

Keywords: mechatronic systems, Matlab GUI, sensitivity, tolerance

Procedia PDF Downloads 405