Search results for: market driving behavior

Authors: Masao Nakagawa, Toshiki Hirogaki, Eiichi Aoyama, Mohamed Ali Ben Abbes

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A planetary gear set is widely used in hybrid vehicles as the power distribution system or in electric vehicles as the high reduction system, but due to its complexity with planet gears, its dynamic characteristic is not fully understood. There are many reports on two-axes driving or displacement of the planet gears under these conditions, but only few reports deal with three-axes driving. A three-axes driving condition is tested using three-axes torque measurement and focuses on the dynamic characteristic around the planet gears in this report. From experimental result, it was confirmed that the transition forces around the planet gears were balanced and the torques were also balanced around the instantaneous rotation center. The meshing frequency under these conditions was revealed to be the harmonics of two meshing frequencies; meshing frequency of the ring gear and that of the planet gears. The input power of the ring gear is distributed to the carrier and the sun gear in the dynamic sequential change of three fixed conditions; planet, star and solar modes.

Keywords: dynamic characteristic, gear, planetary gear set, torque measuring

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Authors: Mohammad Talha, Abdullah Sallehhuddin Abdullah Salim, Abdul Aziz Abdul Jalil, Norzarina Md Yatim

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The significant contribution of institutional investors across the globe in socially responsible investment (SRI) is well-documented in the literature. Nevertheless, how the SRI behavior of pressure-resistant, pressure-sensitive and pressure-indeterminate institutional investors remain unexplored extensively. This study examines the moderating effect of institutional investors towards socially responsible investment behavior in the context of emerging economies. This study involved 229 institutional investors in Malaysia. A total of 1,145 questionnaires were distributed. Out of these, 308 (130 pressure sensitive institutional investors and 178 pressure resistant institutional investors), representing a usable rate of 26.9 per cent, were found fit for data analysis. Utilizing multi-group analysis via AMOS, this study found evidence for the presence of moderating effect by a type of institutional investor topology in socially responsible investment behavior. At intentional level, it established that type of institutional investor was a significant moderator in the relationship between subjective norms, and caring ethical climate with intention among pressure-resistant institutional investors, as well as between perceived behavioral controls with intention among pressure-sensitive institutional investors. At the behavioral level, the results evidenced that there was only a significant moderating effect between intention and socially responsible investment behavior among pressure-resistant institutional investors. The outcomes are expected to benefit policy makers, regulators, and market participants in order to leap forward SRI growth in developing economies. Nevertheless, the outcomes are limited to a few factors, and it is believed that future studies shall address those limitations.

Keywords: socially responsible investment, behavior, pressure sensitive investors, pressure insensitive investors, Institutional Investment Malaysia

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Authors: Mark Schudeleit, Christian Sieg, Ferit Küçükay

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This paper describes how to dimension the electric components of a 48V hybrid system considering real customer use. Furthermore, it provides information about savings in energy and CO2 emissions by a customer-tailored 48V hybrid. Based on measured customer profiles, the electric units such as the electric motor and the energy storage are dimensioned. Furthermore, the CO2 reduction potential in real customer use is determined compared to conventional vehicles. Finally, investigations are carried out to specify the topology design and preliminary considerations in order to hybridize a conventional vehicle with a 48V hybrid system. The emission model results from an empiric approach also taking into account the effects of engine dynamics on emissions. We analyzed transient engine emissions during representative customer driving profiles and created emission meta models. The investigation showed a significant difference in emissions when simulating realistic customer driving profiles using the created verified meta models compared to static approaches which are commonly used for vehicle simulation.

Keywords: customer use, dimensioning, hybrid electric vehicles, vehicle simulation, 48V hybrid system

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Authors: Istijabatul Aliyah, Bambang Setioko, Rara Sugiarti

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Surakarta is one of the cities which are formed with the concept of Javanese cosmology. As a traditional town of Java, Surakarta is known as ‘the paradise’ of traditional markets. Since its establishment, Surakarta is formed with Catur Gatra Tunggal or Four Single-Slot concept (palace, square, mosques, and markets). Current development in Surakarta downtown today indicates that traditional markets have improved themselves in both physical and non-physical aspects. The efforts start from the market façade revitalization, restoration and the overall development of market; up to social activities, competition between traders or large celebrations in the neighbourhood market. This research was conducted in Surakarta, which is aimed at: identifying the role of traditional market revitalization efforts in the development of a city. This study employs several methods of analysis, namely: 1) Spatial analysis for mapping the distribution of traditional markets in the city constellation, 2) Category-Based Analysis (CBA) to classify the revitalization of traditional markets that has an influence in the development of the city, and 3) Interactive Method of Analysis. The results of this research indicate that the presence of a constellation of traditional markets in Surakarta is dominated by the presence of Gede Market, not only as the oldest traditional market, but also as a center of economic and socio-cultural activities of the community. The role of traditional market revitalization in the development of a town is as an Urban Catalyst towards a MICE city in the sense that the revitalization effort, even done in a relatively short time and not yet covering the overall objects, is able to establish brand image of Surakarta as a city of culture which is friendly and ready to be MICE tourism city.

Keywords: traditional market revitalization, urban catalyst, MICE tourism, Surakarta

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Authors: Endah Mastuti, Prihastuti Sudaryono

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The rapid development of Internet usage and technology influences the academic behavior of students in high schools. One of the consequences is the emergence of academic procrastination behavior. Academic procrastination behavior is students’ procrastinate behavior in completing assignments. This study aimed to see whether there are differences in the duration of using the internet with academic procrastinate behavior among high school students in Surabaya. The number of research subject is 498 high school students. Instruments of the research are academic procrastination scale and duration of the internet usage questionnaire. The results from One Way Anova shows F value 0.241 with a significance level of 0.868 This demonstrates that there is no difference between the duration of the use of the Internet with academic procrastination behavior in high school students.

Keywords: academic procrastination, duration of internet usage, students, senior high school

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Authors: M. Osipova

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Thanks to informational technologies development every sphere of economics is becoming more and more data-centralized as people are generating huge datasets containing information on any aspect of their life. Applying research of such data to human resources management allows getting scarce statistics on labor market state including salary expectations and potential employees’ typical career behavior, and this information can become a reliable basis for management decisions. The following article presents results of career behavior research based on freely accessible resume data. Information used for study is much wider than one usually uses in human resources surveys. That is why there is enough data for statistically significant results even for subgroups analysis.

Keywords: human resources management, salary expectations, statistics, turnover

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Authors: Piyush Hajela

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Public spaces in Indian market places are vibrant, colorful and carry latent dimensions that make them attractive and popular gathering spaces. These markets satisfy the household needs of the people and also their social, cultural and traditional aspirations. Going to a market place for shopping in India is a great source of entertainment for the people. They would love to spend as much time as possible and stay for longer durations than otherwise required. It is this desire of the people that generates public spaces. Much of these public spaces emerge as squares, plazas, corners of varied shapes and sizes at different locations, and yet provide a conducive environment. Such public spaces grow organically and are discovered by the people themselves. Indian markets serve people of different culture, religion, caste, age, gender which keeps them alive all the year round. Indian is a diverse country and this diversity is reflected clearly in the market places. They hold the people together and promote harmony across cultures. Free access to these market places makes them magnets for social interaction. Public spaces are spread across a city and more or less have established their existence and prominence in a social set up. While few of them are created, others are discovered by the people themselves in their constant search for desirable interactive public spaces. These are the most sought after gathering spaces that have the quality of promoting social interaction, providing free accessibility, provide desirable scale etc. The paper aims at identifying these freely accessible public spaces and the dimensions within it that make these public spaces hold the people for significant duration of time. The dimensions present shall be judged through collective response of human senses in form of safety, comfort and so on through the expressions of the participants. The aim therefore would be to trace the freely accessible public spaces emerged in Indian markets and evaluate them for human response and behavior. The hierarchy of market places in the city of Bhopal is well established as, city center level, sub city-center level, community level, local and convenient level market places. While many city-centers are still referred to as the old or traditional or the core area of the city, the others are part of the planned city. These different levels of market places are studied for emerged public spaces. These emerged public spaces are then documented in detail for unveiling the dimensions they offer through, photographs, visual observations, questionnaires and response of the participants of these public spaces.

Keywords: human comfort, enclosure, safety, social interaction

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Authors: Kang-Hsien Li

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Along with global industries in using technology to enhance the application, make the study drawn more close to the people’s behavior and produce data analysis, extended out from the mental accounting of prospect theory, this paper provides the marketing and financial applications in the field of exploration and discussions with the future. For the foreseeable future, the payment behavior depends on the form of currency, which affects a variety of product types on the marketing of marketing strategy to provide diverse payment methods to enhance the overall sales performance. This not only affects people's consumption also affects people's investments. Credit card, PayPal, Apple pay, Bitcoin and any other with advances in technology and other emerging payment instruments, began to affect people for the value and the concept of money. Such as the planning of national social welfare policies, monetary and financial regulators and regulators. The expansion can be expected to discuss marketing and finance-related mental problems at the same time, recent studies reflect two different ideas, the first idea is that individuals affected by situational frames, not broad impact at the event level, affected by the people basically mental, second idea is that when an individual event affects a broader range, and majority of people will choose the same at the time that the rational choice. That are applied to practical application of marketing, at the same time provide an explanation in the financial market under the anomalies, due to the financial markets has varied investment products and different market participants, that also highlights these two points. It would provide in-depth description of humanity's mental. Certainly, about discuss mental accounting aspects, while artificial intelligence application development, although people would be able to reduce prejudice decisions, that will also lead to more discussion on the economic and marketing strategy.

Keywords: mental accounting, behavior economics, consumer behaviors, decision-making

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Authors: Mohammad Hossein Ranjbar, Mahdi Bagheri, B. Shivaraj

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This study attempts to investigate the relationship between stock market of Iran and GCC countries stock exchanges. Eight markets were included: the stock market of Iran, Kuwait, Bahrain, Qatar, Saudi Arabia, Dubai, Abu Dhabi and Oman. Daily country market indices were collected from January 2005 to December 2010. The potential time-varying behaviors of long-run stock market relationship among selected markets are tested applying correlation test, Augmented Dick Fuller test (ADF), Bilateral and Multilateral Cointegration (Johansen), and the Granger Causality test. The findings suggest that stock market of Iran is negatively correlated with most of the selected markets in the whole duration. But contemporaneous correlations among the eight selected markets are increased positively in period of financial crises. Bilateral Cointegration between selected markets suggests that there is no integration between Tehran stock exchange and other selected markets. Among other markets, except the stock market of Dubai and Abu Dhabi as a one pair, are not cointegrated in whole, but in duration of financial crises integration between selected markets are increased. Finally, investigation of the casual relationship among eight financial markets suggests there are unidirectional and bidirectional causal relationship among some of stock market indices.

Keywords: financial crises, Middle East, stock market integration, Granger Causality test, ARDL test

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Authors: Surendra Choudhary, Sapan Tiwari

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The driver has two fundamental duties i) controlling the position of the vehicle along the longitudinal and lateral direction of movement ii) roadway width. Both of these duties are interdependent and are concurrently referred to as two-dimensional driver behavior. One of the main problems facing driver behavior modeling is to identify the parameters for describing the exemplary driving conduct and car maneuver under distinct traffic circumstances. Still, to date, there is no well-accepted theory that can comprehensively model the 2-D driver conduct (longitudinal and lateral). The primary objective of this research is to explore the vehicle's lateral longitudinal behavior in the heterogeneous condition of traffic on horizontal curves as well as the effect of road geometry on dynamic traffic parameters, i.e., car velocity and lateral placement. In this research, with their interrelationship, a thorough assessment of dynamic car parameters, i.e., speed, lateral acceleration, and turn radius. Also, horizontal curve road parameters, i.e., curvature radius, pavement friction, are performed. The dynamic parameters of the various types of car drivers are gathered using a VBOX GPS-based tool with high precision. The connection between dynamic car parameters and curve geometry is created after the removal of noise from the GPS trajectories. The major findings of the research are that car maneuvers with higher than the design limits of speed, acceleration, and lateral deviation on the studied curves of the highway. It can become lethal if the weather changes from dry to wet.

Keywords: geometry, maneuverability, terrain, trajectory, VBOX

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Authors: Rosyidah, Permata Wulandari

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We investigate the price effect of addition and deletions from the Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). Using event study methodology, we measure abnormal returns for firms over the period June 2019 - to December 2021. Through the sample of 107 additions and 95 deletions, we find evidence to support the theory of Muslim country investment behavior. We find that additions to the Islamic index led to a significant positive stock market reaction and deletions to the Islamic index led to a negative stock market reaction on Jakarta Islamic Index (JII) and there is no significant reaction of addition and deletion on Indonesia Sharia Stock Index (ISSI).

Keywords: abnormal return, abnormal volume, event study, index changes, sharia index

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Authors: Belhouchet Selma, Ben Amar Anis

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We examine the impact of COVID-19 transmission, containment measures, and vaccination growth on daily stock market returns for the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) from January 22, 2020, to August 31, 2021, more than a year and a half after COVID-19. For this objective, we use panel pooled ordinary least squares regressions. Our findings indicate that the spread of the pandemic has a negative impact on the daily performance of the world's seven main stock markets. Government measures to improve stock market returns are no longer successful. Furthermore, our findings demonstrate that immunization efforts in G7 nations do not increase stock market performance in these countries. A variety of robustness tests back up our conclusions. Our findings have far-reaching implications for investors, governments, and regulators not only in the G7 countries but also in all developed countries and all countries globally.

Keywords: COVID-19, G7 stock market, containment measures, vaccination

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Authors: Craig M. Allen

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Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs

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Authors: Yurdum Cokadar

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The United States is the country where the majority of highly skilled immigrants are hosted. Two-thirds of foreign-born migrants from Turkey - an underrepresented and understudied immigrant group in the United States - are highly skilled. Generated by the aim of filling this gap in the literature, the motivation of this research is to understand highly skilled Turkish immigrant women’s integration into the U.S. labor market, including barriers that they face and strategies they develop to rebuild their career after relocation. The in-depth interviews of 20 highly skilled Turkish women residing in the U.S. revealed that the majority of women participants are either not integrated into the labor market, occupy positions below their skill, or cannot reach the same upper segments of the labor market in the host country, arising from a range of structural and personal barriers interplaying in their career trajectories. Furthermore, many of them cannot transfer their social and cultural capital gained in their home country into the United States. The labor market participation process of these women is analyzed in the light of Bourdieu’s theory of capital and the intersectional approach of gender, class and ethnicity in order to understand the positions of highly skilled immigrant women in the host country labor market.

Keywords: deskilling, gender, class and ethnicity, highly skilled women immigrants, integration into the U.S. the labor market, labor market participation, skilled migration, theory of capital

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Authors: Farid Habibi Tanha, Hawati Janor, Mojtaba Jahanbazi

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The purpose of this study is to examine the effect of asymmetric information on the composition of capital inflows. This study uses the stock market microstructure to capture the asymmetric information. Such an approach allows one to capture the level and extent of the asymmetric information from a firm’s perspective. This study focuses on the two-dimensional measure of the market microstructure in capturing asymmetric information. The composition of capital inflows is measured by running six models simultaneously. By employing the panel data technique, the main finding of this research shows an increase in the asymmetric information of the stock market, in any of the two dimensions of width and depth. This leads to the reduction of foreign investments in both forms of foreign portfolio investment (FPI) and foreign direct investment (FDI), while the reduction in FPI is higher than that of the FDI. The significant effect of asymmetric information on capital inflows implicitly suggests for policymakers to control the changes of foreign capital inflows through transparency in the level of the market.

Keywords: capital flows composition, asymmetric information, stock market microstructure, foreign portfolio investment, foreign direct investment

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Authors: Soumaya Ben Kheilifa, Dorra Mezzez Hmaied

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We propose two approaches to examine whether European hedge fund managers can time market liquidity. Using a sample of 1616 European hedge funds, we find evidence of liquidity timing. More importantly, this ability adds economic value to investors. Thus, it represents valuable managerial skill and a major source of European hedge funds’ performance. Also we show that the majority of these funds demonstrate liquidity timing ability especially during liquidity crisis. Finally, it emerged that our main evidence of liquidity timing remains significant after controlling for market timing and volatility timing.

Keywords: european hedge funds, liquidity timing ability, market liquidity, crisis

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Authors: Jonathan J. Burson

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With the rise of virtually costless, mobile-based trading platforms, stock market trading activity has increased significantly over the past decade, particularly for the millennial generation. This increased stock market attention, combined with the recent market turmoil due to the economic upset caused by COVID-19, make the topics of market-timing and forecasting particularly relevant. While the overall stock market saw an unprecedented, historically-long bull market from March 2009 to February 2020, the end of that bull market reignited a search by investors for a way to reduce risk and increase return. Similar searches for outperformance occurred in the early, and late 2000’s as the Dotcom bubble burst and the Great Recession led to years of negative returns for mean-variance, index investors. Extensive research has been conducted on fundamental analysis, technical analysis, macroeconomic indicators, microeconomic indicators, and other techniques—all using different methodologies and investment periods—in pursuit of higher returns with lower risk. The enormous variety of timeframes, data, and methodologies used by the diverse forecasting methods makes it difficult to compare the outcome of each method directly to other methods. This paper establishes a process to evaluate the market-timing methods in an apples-to-apples manner based on simplicity, performance, and feasibility. Preliminary findings show that certain technical analysis models provide a higher return with lower risk when compared to the buy-and-hold method and to other market-timing strategies. Furthermore, technical analysis models tend to be easier for individual investors both in terms of acquiring the data and in analyzing it, making technical analysis-based market-timing methods the preferred choice for retail investors.

Keywords: buy-and-hold, forecast, market-timing, probit, technical analysis

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Authors: Despina Yiakoumi, Agathe Rouaix

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Laboratory experiments were run to investigate the impact of different design characteristics of the auctions, which have been implemented to procure capacity in the UK’s reformed electricity markets. The experiment studies competition among bidders in procurement multi-unit discrete descending clock auctions under different feedback policies and pricing rules. Theory indicates that feedback policy in combination with the two common pricing rules; last-accepted bid (LAB) and first-rejected bid (FRB), could affect significantly the auction outcome. Two information feedback policies regarding the bidding prices of the participants are considered; with feedback and without feedback. With feedback, after each round participants are informed of the number of items still in the auction and without feedback, after each round participants have no information about the aggregate supply. Under LAB, winning bidders receive the amount of the highest successful bid and under the FRB the winning bidders receive the lowest unsuccessful bid. Based on the theoretical predictions of the alternative auction designs, it was decided to run three treatments. First treatment considers LAB with feedback; second treatment studies LAB without feedback; third treatment investigates FRB without feedback. Theoretical predictions of the game showed that under FRB, the alternative feedback policies are indifferent to the auction outcome. Preliminary results indicate that LAB with feedback and FRB without feedback achieve on average higher clearing prices in comparison to the LAB treatment without feedback. However, the clearing prices under LAB with feedback and FRB without feedback are on average lower compared to the theoretical predictions. Although under LAB without feedback theory predicts the clearing price will drop to the competitive equilibrium, experimental results indicate that participants could still engage in cooperative behavior and drive up the price of the auction. It is showed, both theoretically and experimentally, that the pricing rules and the feedback policy, affect the bidding competitiveness of the auction by providing opportunities to participants to engage in cooperative behavior and exercise market power. LAB without feedback seems to be less vulnerable to market power opportunities compared to the alternative auction designs. This could be an argument for the use of LAB pricing rule in combination with limited feedback in the UK capacity market in an attempt to improve affordability for consumers.

Keywords: descending clock auctions, experiments, feedback policy, market design, multi-unit auctions, pricing rules, procurement auctions

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Authors: Marwa Abdulsalam, Osamu Suzuki, Wirawan Dony Dahana

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One of the remarkable and unique industries in Japan is the food samples industry which can be noticed in most of the restaurants located around Japan. However, the market is getting saturated, which has pushed Japanese food sample manufacturers to start exploring new international markets. Most of the markets they explored were in the East Asian region, such as China or Korea. In this research, we examine the feasibility and the potential adoption rate of food samples in the international market outside the East Asian region. The main focus of this study is on the Saudi Arabian market. Nonetheless, since Saudi Arabia is a big market, the study results could possibly be applied to the international market as well. The study has conducted a quantitative survey to test the potential of the food samples industry in Saudi Arabia especially in 4 major cities: Jeddah, Mecca, Riyadh, and Dammam. The survey also tests the willingness to purchase, the average price point that the consumer is willing to pay for food samples, and the factors that drive restaurant owners to adopt the food samples system. The study created a correlation analysis between different factors, such as the geographic factor and the size of the restaurant factor, to examine the effect of different aspects on the purchasing decision. The study has found that the Japanese food samples system is predicted to adapt successfully in the Saudi Arabian market and in the international market alike due to the high importance of the food culture and the existence of the communication challenges that the food samples can solve. Additionally, the market survey stated in this study indicated that 83% of the restaurants’ managers are willing to adopt this system in their restaurants.

Keywords: food samples, innovative marketing, international market, marketing method

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Authors: Qassun S. Mohammed Shafiqu, Murtadha A. Abdulrasool

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The design of shallow foundations to withstand different dynamic loads has given considerable attention in recent years. Dynamic loads may be due to the earthquakes, pile driving, blasting, water waves, and machine vibrations. But, predicting the behavior of shallow foundations during earthquakes remains a difficult task for geotechnical engineers. A database for dynamic and static parameters for different soils in seismic active zones in Iraq is prepared which has been collected from geophysical and geotechnical investigation works. Then, analysis of a typical 3-D soil-raft foundation system under earthquake loading is carried out using the database. And a parametric study has been carried out taking into consideration the influence of some parameters on the dynamic behavior of the raft foundation, such as raft stiffness, damping ratio as well as the influence of the earthquake acceleration-time records. The results of the parametric study show that the settlement caused by the earthquake can be decreased by about 72% with increasing the thickness from 0.5 m to 1.5 m. But, it has been noticed that reduction in the maximum bending moment by about 82% was predicted by decreasing the raft thickness from 1.5 m to 0.5 m in all sites model. Also, it has been observed that the maximum lateral displacement, the maximum vertical settlement and the maximum bending moment for damping ratio 0% is about 14%, 20%, and 18% higher than that for damping ratio 7.5%, respectively for all sites model.

Keywords: shallow foundation, seismic behavior, raft thickness, damping ratio

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Authors: Zain Ul Abideen

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The study examines the potentially dark and bright parts of behavioral biases in investors’ investment decisions in the Pakistani equity market. These biases, directly and indirectly, play a comprehensive role in controlling and deciding the investor’s investment decisions. Stock market anomalies are used as a mediator, while financial literacy is used as a moderator to check the mentioned relationship. The sample consisted of investors who have trading experience of more than two years in the stock market. The result indicates that calendar anomalies do not mediate between overconfidence bias and investment decisions. However, the study investigates the mediating role of fundamental and technical anomalies between overconfidence bias and investment decisions. Furthermore, calendar anomalies play a significant role between the disposition effect and investment decisions. Calendar anomalies also mediate between herding bias and investment decisions. Financial literacy significantly moderates between behavioral biases and stock market anomalies. This research would be beneficial for individual and professional investors in their investment decisions. They should be financially literate, consequently less biased and have no market anomalies. Investors in emerging and developed economies can make optimal decisions in their respective stock markets.

Keywords: behavioral biases, financial literacy, stock market anomalies, investment decision

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Authors: Ali Muhammad

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The purpose of this study is to develop a theoretical framework which demonstrates the effect of four personal factors on employees rule following behavior in Kuwaiti business organizations. The model suggested in this study includes organizational citizenship behavior, affective organizational commitment, organizational trust, and procedural justice as possible predictors of rule following behavior. The study also attempts to compare the effects of the suggested factors on employees rule following behavior. The new model will, hopefully, extend previous research by adding new variables to the models used to explain employees rule following behavior. A discussion of issues related to rule-following behavior is presented, as well as recommendations for future research.

Keywords: employee adherence to rules, organizational justice, organizational commitment, organizational citizenship behavior

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Authors: Min Ye Koo, Ji Ho Ahn, Byung Il You, Gyo Woo Lee

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Everything that is attached to the outside of the vehicle to improve the driving performance of the vehicle by changing the flow characteristics of the surrounding air or to pursue the external personality is called a tuning part. Typical tuning components include front or rear air dam, also known as spoilers, splitter, and side air dam. Particularly, the front air dam prevents the airflow flowing into the lower portion of the vehicle and increases the amount of air flow to the side and front of the vehicle body, thereby reducing lift force generation that lifts the vehicle body, and thus, improving the steering and driving performance of the vehicle. The purpose of this study was to investigate the role of anterior air dam in the flow around a sedan passenger car using computational fluid dynamics. The effects of flow velocity, trajectory of fluid particles on static pressure distribution and pressure distribution on body surface were investigated by varying flow velocity and size of air dam. As a result, it has been confirmed that the front air dam improves the flow characteristics, thereby reducing the generation of lift force of the vehicle, so it helps in steering and driving characteristics.

Keywords: numerical study, air dam, flow field, pressure distribution

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Authors: Eti Mizrahi, Gizem İntepe

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The geographical location of Turkey that stretches from Asia to Europe and Russia to Africa makes it an important logistics hub in the region. Although logistics is a developing sector in Turkey, the stock market representation is still low with only two companies listed in Turkey’s stock exchange since 2010. In this paper, we use the daily values of these two listed stocks as a benchmark for the logistics sector. After modeling logistics stock prices, an empirical examination is conducted between the existing logistics indices and these stock prices. The paper investigates whether the measures of logistics stocks are correlated with newly available logistics indices. It also shows the reflection of the economic activity in the logistics sector on the stock exchange market. The results presented in this paper are the first analysis of the behavior of logistics indices and logistics stock prices for Turkey.

Keywords: forecasting, logistic stock exchange, modeling, Africa

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Authors: Amirhossein Khazali, Mohsen Kalantar

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Energy storage units can play an important role to provide an economic and secure operation of future energy systems. In this paper, a stochastic energy and reserve market clearing scheme is presented considering storage energy units. The approach is proposed to deal with stochastic and non-dispatchable renewable sources with a high level of penetration in the energy system. A two stage stochastic programming scheme is formulated where in the first stage the energy market is cleared according to the forecasted amount of wind generation and demands and in the second stage the real time market is solved according to the assumed scenarios.

Keywords: energy and reserve market, energy storage device, stochastic programming, wind generation

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Authors: Nadia Sghaier

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In this paper, we aim to identify the determinants of the life and non-life insurance premiums of different lines for the case of the Tunisian insurance market over a recent period from 1997 to 2019. The empirical analysis is conducted using the linear cointegration techniques in the panel data framework, which allow both long and short-run relationships. The obtained results show evidence of long-run relationship between premiums, losses, and financial variables (stock market indices and interest rate). Furthermore, we find that the short-run effect of explanatory variables differs across lines. This finding has important implications for insurance tarification and regulation.

Keywords: insurance premiums, lines, Tunisian insurance market, cointegration approach in panel data

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Authors: Abul Shamsuddin

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The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures.

Keywords: Dow Jones Islamic market index, FTSE global Islamic index, ethical investment, finance

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Authors: Kepeng Li

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This paper examines the phenomenon of recidivism in the Chinese stock market, emphasizing the significance of mitigating repeat offences within the corporate domain. Using a contingency model and data from Chinese publicly listed companies (1999-2018), the study investigates the impact of underperformance, governance factors, and managerial traits on unethical conduct. The research suggests that persistently unmet economic objectives can foster problem-focused exploration, potentially leading to misconduct. Furthermore, the study considers the unique cultural context of China, where “guanxi” and corruption may influence corporate behavior. It concludes that governance mechanisms play a pivotal role in regulating corporate behavior, underscoring the necessity for enhanced oversight and enforcement of corporate governance standards.

Keywords: recidivism, corporate misbehavior, BTOF, aspiration level, corporate governance, individual characteristics

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Authors: Jiraporn Weenuttranon

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The objectives of the consumer behavior of bakery products in Bangkok are to study consumer behavior of the bakery product, to study the essential factors that could possibly affect the consumer behavior and to study recommendations for the development of the bakery products. This research is a survey research. Populations are buyer’s bakery products in Bangkok. The probability sample size is 400. The research uses a questionnaire for self-learning by using information technology. The researcher created a reliability value at 0.71 levels of significance. The data analysis will be done by using the percentage, mean, and standard deviation and testing the hypotheses by using chi-square.

Keywords: consumer, behavior, bakery, standard deviation

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Authors: Chen Zhang; Qiang Wang

Abstract:

With the rapid development of the new generation of digital technology, various industries have created more and more value by using digital technology, accelerating the digital transformation of various industries. The economic form of human society has evolved with the progress of technology, and in this context, the power conversion, transformation and upgrading of the manufacturing industry in terms of quality, efficiency and energy change has become a top priority. Based on the digitalization background, this paper analyzes the transformation and upgrading efficiency of the manufacturing industry and evaluates the impact of the driving factors, which have very important theoretical and practical significance. This paper utilizes qualitative research methods, entropy methods, data envelopment analysis methods and econometric models to explore the transformation and upgrading efficiency of manufacturing enterprises and driving factors. The study shows that the transformation and upgrading efficiency of the manufacturing industry shows a steady increase, and regions rich in natural resources and social resources provide certain resources for transformation and upgrading. The ability of scientific and technological innovation has been improved, but there is still much room for progress in the transformation of scientific and technological innovation achievements. Most manufacturing industries pay more attention to green manufacturing and sustainable development. In addition, based on the existing problems, this paper puts forward suggestions for improving infrastructure construction, developing the technological innovation capacity of enterprises, green production and sustainable development.

Keywords: digitization, manufacturing firms, transformation and upgrading, efficiency, driving factors

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