Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 22

Search results for: multicollinearity

22 On the Performance of Improvised Generalized M-Estimator in the Presence of High Leverage Collinearity Enhancing Observations

Authors: Habshah Midi, Mohammed A. Mohammed, Sohel Rana

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Multicollinearity occurs when two or more independent variables in a multiple linear regression model are highly correlated. The ridge regression is the commonly used method to rectify this problem. However, the ridge regression cannot handle the problem of multicollinearity which is caused by high leverage collinearity enhancing observation (HLCEO). Since high leverage points (HLPs) are responsible for inducing multicollinearity, the effect of HLPs needs to be reduced by using Generalized M estimator. The existing GM6 estimator is based on the Minimum Volume Ellipsoid (MVE) which tends to swamp some low leverage points. Hence an improvised GM (MGM) estimator is presented to improve the precision of the GM6 estimator. Numerical example and simulation study are presented to show how HLPs can cause multicollinearity. The numerical results show that our MGM estimator is the most efficient method compared to some existing methods.

Keywords: identification, high leverage points, multicollinearity, GM-estimator, DRGP, DFFITS

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21 Estimation of Coefficients of Ridge and Principal Components Regressions with Multicollinear Data

Authors: Rajeshwar Singh

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The presence of multicollinearity is common in handling with several explanatory variables simultaneously due to exhibiting a linear relationship among them. A great problem arises in understanding the impact of explanatory variables on the dependent variable. Thus, the method of least squares estimation gives inexact estimates. In this case, it is advised to detect its presence first before proceeding further. Using the ridge regression degree of its occurrence is reduced but principal components regression gives good estimates in this situation. This paper discusses well-known techniques of the ridge and principal components regressions and applies to get the estimates of coefficients by both techniques. In addition to it, this paper also discusses the conflicting claim on the discovery of the method of ridge regression based on available documents.

Keywords: conflicting claim on credit of discovery of ridge regression, multicollinearity, principal components and ridge regressions, variance inflation factor

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20 Analysing Time Series for a Forecasting Model to the Dynamics of Aedes Aegypti Population Size

Authors: Flavia Cordeiro, Fabio Silva, Alvaro Eiras, Jose Luiz Acebal

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Aedes aegypti is present in the tropical and subtropical regions of the world and is a vector of several diseases such as dengue fever, yellow fever, chikungunya, zika etc. The growth in the number of arboviruses cases in the last decades became a matter of great concern worldwide. Meteorological factors like mean temperature and precipitation are known to influence the infestation by the species through effects on physiology and ecology, altering the fecundity, mortality, lifespan, dispersion behaviour and abundance of the vector. Models able to describe the dynamics of the vector population size should then take into account the meteorological variables. The relationship between meteorological factors and the population dynamics of Ae. aegypti adult females are studied to provide a good set of predictors to model the dynamics of the mosquito population size. The time-series data of capture of adult females of a public health surveillance program from the city of Lavras, MG, Brazil had its association with precipitation, humidity and temperature analysed through a set of statistical methods for time series analysis commonly adopted in Signal Processing, Information Theory and Neuroscience. Cross-correlation, multicollinearity test and whitened cross-correlation were applied to determine in which time lags would occur the influence of meteorological variables on the dynamics of the mosquito abundance. Among the findings, the studied case indicated strong collinearity between humidity and precipitation, and precipitation was selected to form a pair of descriptors together with temperature. In the techniques used, there were observed significant associations between infestation indicators and both temperature and precipitation in short, mid and long terms, evincing that those variables should be considered in entomological models and as public health indicators. A descriptive model used to test the results exhibits a strong correlation to data.

Keywords: Aedes aegypti, cross-correlation, multicollinearity, meteorological variables

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19 A Study on Inference from Distance Variables in Hedonic Regression

Authors: Yan Wang, Yasushi Asami, Yukio Sadahiro

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In urban area, several landmarks may affect housing price and rents, hedonic analysis should employ distance variables corresponding to each landmarks. Unfortunately, the effects of distances to landmarks on housing prices are generally not consistent with the true price. These distance variables may cause magnitude error in regression, pointing a problem of spatial multicollinearity. In this paper, we provided some approaches for getting the samples with less bias and method on locating the specific sampling area to avoid the multicollinerity problem in two specific landmarks case.

Keywords: landmarks, hedonic regression, distance variables, collinearity, multicollinerity

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18 A Research on Inference from Multiple Distance Variables in Hedonic Regression Focus on Three Variables

Authors: Yan Wang, Yasushi Asami, Yukio Sadahiro

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In urban context, urban nodes such as amenity or hazard will certainly affect house price, while classic hedonic analysis will employ distance variables measured from each urban nodes. However, effects from distances to facilities on house prices generally do not represent the true price of the property. Distance variables measured on the same surface are suffering a problem called multicollinearity, which is usually presented as magnitude variance and mean value in regression, errors caused by instability. In this paper, we provided a theoretical framework to identify and gather the data with less bias, and also provided specific sampling method on locating the sample region to avoid the spatial multicollinerity problem in three distance variable’s case.

Keywords: hedonic regression, urban node, distance variables, multicollinerity, collinearity

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17 Impact of Emotional Intelligence and Cognitive Intelligence on Radio Presenter's Performance in All India Radio, Kolkata, India

Authors: Soumya Dutta

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This research paper aims at investigating the impact of emotional intelligence and cognitive intelligence on radio presenter’s performance in the All India Radio, Kolkata (India’s public service broadcaster). The ancient concept of productivity is the ratio of what is produced to what is required to produce it. But, father of modern management Peter F. Drucker (1909-2005) defined productivity of knowledge work and knowledge workers in a new form. In the other hand, the concept of Emotional Intelligence (EI) originated back in 1920’s when Thorndike (1920) for the first time proposed the emotional intelligence into three dimensions, i.e., abstract intelligence, mechanical intelligence, and social intelligence. The contribution of Salovey and Mayer (1990) is substantive, as they proposed a model for emotional intelligence by defining EI as part of the social intelligence, which takes measures the ability of an individual to regulate his/her personal and other’s emotions and feeling. Cognitive intelligence illustrates the specialization of general intelligence in the domain of cognition in ways that possess experience and learning about cognitive processes such as memory. The outcomes of past research on emotional intelligence show that emotional intelligence has a positive effect on social- mental factors of human resource; positive effects of emotional intelligence on leaders and followers in terms of performance, results, work, satisfaction; emotional intelligence has a positive and significant relationship with the teachers' job performance. In this paper, we made a conceptual framework based on theories of emotional intelligence proposed by Salovey and Mayer (1989-1990) and a compensatory model of emotional intelligence, cognitive intelligence, and job performance proposed by Stephen Cote and Christopher T. H. Miners (2006). For investigating the impact of emotional intelligence and cognitive intelligence on radio presenter’s performance, sample size consists 59 radio presenters (considering gender, academic qualification, instructional mood, age group, etc.) from All India Radio, Kolkata station. Questionnaires prepared based on cognitive (henceforth called C based and represented by C1, C2,.., C5) as well as emotional intelligence (henceforth called E based and represented by E1, E2,., E20). These were sent to around 59 respondents (Presenters) for getting their responses. Performance score was collected from the report of program executive of All India Radio, Kolkata. The linear regression has been carried out using all the E-based and C-based variables as the predictor variables. The possible problem of autocorrelation has been tested by having the Durbinson-Watson (DW) Statistic. Values of this statistic, almost within the range of 1.80-2.20, indicate the absence of any significant problem of autocorrelation. The possible problem of multicollinearity has been tested by having the Variable Inflation Factor (VIF) value. Values of this statistic, around within 2, indicates the absence of any significant problem of multicollinearity. It is inferred that the performance scores can be statistically regressed linearly on the E-based and C-based scores, which can explain 74.50% of the variations in the performance.

Keywords: cognitive intelligence, emotional intelligence, performance, productivity

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16 Chemometric QSRR Evaluation of Behavior of s-Triazine Pesticides in Liquid Chromatography

Authors: Lidija R. Jevrić, Sanja O. Podunavac-Kuzmanović, Strahinja Z. Kovačević

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This study considers the selection of the most suitable in silico molecular descriptors that could be used for s-triazine pesticides characterization. Suitable descriptors among topological, geometrical and physicochemical are used for quantitative structure-retention relationships (QSRR) model establishment. Established models were obtained using linear regression (LR) and multiple linear regression (MLR) analysis. In this paper, MLR models were established avoiding multicollinearity among the selected molecular descriptors. Statistical quality of established models was evaluated by standard and cross-validation statistical parameters. For detection of similarity or dissimilarity among investigated s-triazine pesticides and their classification, principal component analysis (PCA) and hierarchical cluster analysis (HCA) were used and gave similar grouping. This study is financially supported by COST action TD1305.

Keywords: chemometrics, classification analysis, molecular descriptors, pesticides, regression analysis

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15 The Use of Geographically Weighted Regression for Deforestation Analysis: Case Study in Brazilian Cerrado

Authors: Ana Paula Camelo, Keila Sanches

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The Geographically Weighted Regression (GWR) was proposed in geography literature to allow relationship in a regression model to vary over space. In Brazil, the agricultural exploitation of the Cerrado Biome is the main cause of deforestation. In this study, we propose a methodology using geostatistical methods to characterize the spatial dependence of deforestation in the Cerrado based on agricultural production indicators. Therefore, it was used the set of exploratory spatial data analysis tools (ESDA) and confirmatory analysis using GWR. It was made the calibration a non-spatial model, evaluation the nature of the regression curve, election of the variables by stepwise process and multicollinearity analysis. After the evaluation of the non-spatial model was processed the spatial-regression model, statistic evaluation of the intercept and verification of its effect on calibration. In an analysis of Spearman’s correlation the results between deforestation and livestock was +0.783 and with soybeans +0.405. The model presented R²=0.936 and showed a strong spatial dependence of agricultural activity of soybeans associated to maize and cotton crops. The GWR is a very effective tool presenting results closer to the reality of deforestation in the Cerrado when compared with other analysis.

Keywords: deforestation, geographically weighted regression, land use, spatial analysis

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14 Genetic and Non-Genetic Factors Affecting the Response to Clopidogrel Therapy

Authors: Snezana Mugosa, Zoran Todorovic, Zoran Bukumiric, Ivan Radosavljevic, Natasa Djordjevic

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Introduction: Various studies have shown that the frequency of clopidogrel resistance ranges from 4-40%. The aim of this study was to provide in depth analysis of genetic and non-genetic factors that influence clopidogrel resistance in cardiology patients. Methods: We have conducted a prospective study in 200 hospitalized patients hospitalized at Cardiology Centre of the Clinical Centre of Montenegro. CYP2C19 genetic testing was conducted, and the PREDICT score was calculated in 102 out of 200 patients treated with clopidogrel in order to determine the influence of genetic and non-genetic factors on outcomes of interest. Adverse cardiovascular events and adverse reactions to clopidogrel were assessed during 12 months follow up period. Results: PREDICT score and CYP2C19 enzymatic activity were found to be statistically significant predictors of expressing lack of therapeutic efficacy of clopidogrel by multivariate logistic regression, without multicollinearity or interaction between the predictors (p = 0.002 and 0.009, respectively). Conclusions: Pharmacogenetics analyses that were done in the Montenegrin population of patients for the first time suggest that these analyses can predict patient response to the certain therapy. Stepwise approach could be used in assessing the clopidogrel resistance in cardiology patients, combining the PREDICT score, platelet aggregation test, and genetic testing for CYP2C19 polymorphism.

Keywords: clopidogrel, pharmacogenetics, pharmacotherapy, PREDICT score

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13 Wind Velocity Climate Zonation Based on Observation Data in Indonesia Using Cluster and Principal Component Analysis

Authors: I Dewa Gede Arya Putra

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Principal Component Analysis (PCA) is a mathematical procedure that uses orthogonal transformation techniques to change a set of data with components that may be related become components that are not related to each other. This can have an impact on clustering wind speed characteristics in Indonesia. This study uses data daily wind speed observations of the Site Meteorological Station network for 30 years. Multicollinearity tests were also performed on all of these data before doing clustering with PCA. The results show that the four main components have a total diversity of above 80% which will be used for clusters. Division of clusters using Ward's method obtained 3 types of clusters. Cluster 1 covers the central part of Sumatra Island, northern Kalimantan, northern Sulawesi, and northern Maluku with the climatological pattern of wind speed that does not have an annual cycle and a weak speed throughout the year with a low-speed ranging from 0 to 1,5 m/s². Cluster 2 covers the northern part of Sumatra Island, South Sulawesi, Bali, northern Papua with the climatological pattern conditions of wind speed that have annual cycle variations with low speeds ranging from 1 to 3 m/s². Cluster 3 covers the eastern part of Java Island, the Southeast Nusa Islands, and the southern Maluku Islands with the climatological pattern of wind speed conditions that have annual cycle variations with high speeds ranging from 1 to 4.5 m/s².

Keywords: PCA, cluster, Ward's method, wind speed

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12 A Two-Stage Bayesian Variable Selection Method with the Extension of Lasso for Geo-Referenced Data

Authors: Georgiana Onicescu, Yuqian Shen

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Due to the complex nature of geo-referenced data, multicollinearity of the risk factors in public health spatial studies is a commonly encountered issue, which leads to low parameter estimation accuracy because it inflates the variance in the regression analysis. To address this issue, we proposed a two-stage variable selection method by extending the least absolute shrinkage and selection operator (Lasso) to the Bayesian spatial setting, investigating the impact of risk factors to health outcomes. Specifically, in stage I, we performed the variable selection using Bayesian Lasso and several other variable selection approaches. Then, in stage II, we performed the model selection with only the selected variables from stage I and compared again the methods. To evaluate the performance of the two-stage variable selection methods, we conducted a simulation study with different distributions for the risk factors, using geo-referenced count data as the outcome and Michigan as the research region. We considered the cases when all candidate risk factors are independently normally distributed, or follow a multivariate normal distribution with different correlation levels. Two other Bayesian variable selection methods, Binary indicator, and the combination of Binary indicator and Lasso were considered and compared as alternative methods. The simulation results indicated that the proposed two-stage Bayesian Lasso variable selection method has the best performance for both independent and dependent cases considered. When compared with the one-stage approach, and the other two alternative methods, the two-stage Bayesian Lasso approach provides the highest estimation accuracy in all scenarios considered.

Keywords: Lasso, Bayesian analysis, spatial analysis, variable selection

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11 Evaluation of Newly Synthesized Steroid Derivatives Using In silico Molecular Descriptors and Chemometric Techniques

Authors: Milica Ž. Karadžić, Lidija R. Jevrić, Sanja Podunavac-Kuzmanović, Strahinja Z. Kovačević, Anamarija I. Mandić, Katarina Penov-Gaši, Andrea R. Nikolić, Aleksandar M. Oklješa

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This study considered selection of the in silico molecular descriptors and the models for newly synthesized steroid derivatives description and their characterization using chemometric techniques. Multiple linear regression (MLR) models were established and gave the best molecular descriptors for quantitative structure-retention relationship (QSRR) modeling of the retention of the investigated molecules. MLR models were without multicollinearity among the selected molecular descriptors according to the variance inflation factor (VIF) values. Used molecular descriptors were ranked using generalized pair correlation method (GPCM). In this method, the significant difference between independent variables can be noticed regardless almost equal correlation between dependent variable. Generated MLR models were statistically and cross-validated and the best models were kept. Models were ranked using sum of ranking differences (SRD) method. According to this method, the most consistent QSRR model can be found and similarity or dissimilarity between the models could be noticed. In this study, SRD was performed using average values of experimentally observed data as a golden standard. Chemometric analysis was conducted in order to characterize newly synthesized steroid derivatives for further investigation regarding their potential biological activity and further synthesis. This article is based upon work from COST Action (CM1105), supported by COST (European Cooperation in Science and Technology).

Keywords: generalized pair correlation method, molecular descriptors, regression analysis, steroids, sum of ranking differences

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10 Competitors’ Influence Analysis of a Retailer by Using Customer Value and Huff’s Gravity Model

Authors: Yepeng Cheng, Yasuhiko Morimoto

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Customer relationship analysis is vital for retail stores, especially for supermarkets. The point of sale (POS) systems make it possible to record the daily purchasing behaviors of customers as an identification point of sale (ID-POS) database, which can be used to analyze customer behaviors of a supermarket. The customer value is an indicator based on ID-POS database for detecting the customer loyalty of a store. In general, there are many supermarkets in a city, and other nearby competitor supermarkets significantly affect the customer value of customers of a supermarket. However, it is impossible to get detailed ID-POS databases of competitor supermarkets. This study firstly focused on the customer value and distance between a customer's home and supermarkets in a city, and then constructed the models based on logistic regression analysis to analyze correlations between distance and purchasing behaviors only from a POS database of a supermarket chain. During the modeling process, there are three primary problems existed, including the incomparable problem of customer values, the multicollinearity problem among customer value and distance data, and the number of valid partial regression coefficients. The improved customer value, Huff’s gravity model, and inverse attractiveness frequency are considered to solve these problems. This paper presents three types of models based on these three methods for loyal customer classification and competitors’ influence analysis. In numerical experiments, all types of models are useful for loyal customer classification. The type of model, including all three methods, is the most superior one for evaluating the influence of the other nearby supermarkets on customers' purchasing of a supermarket chain from the viewpoint of valid partial regression coefficients and accuracy.

Keywords: customer value, Huff's Gravity Model, POS, Retailer

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9 Investment and Economic Growth: An Empirical Analysis for Tanzania

Authors: Manamba Epaphra

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This paper analyzes the causal effect between domestic private investment, public investment, foreign direct investment and economic growth in Tanzania during the 1970-2014 period. The modified neo-classical growth model that includes control variables such as trade liberalization, life expectancy and macroeconomic stability proxied by inflation is used to estimate the impact of investment on economic growth. Also, the economic growth models based on Phetsavong and Ichihashi (2012), and Le and Suruga (2005) are used to estimate the crowding out effect of public investment on private domestic investment on one hand and foreign direct investment on the other hand. A correlation test is applied to check the correlation among independent variables, and the results show that there is very low correlation suggesting that multicollinearity is not a serious problem. Moreover, the diagnostic tests including RESET regression errors specification test, Breusch-Godfrey serial correlation LM test, Jacque-Bera-normality test and white heteroskedasticity test reveal that the model has no signs of misspecification and that, the residuals are serially uncorrelated, normally distributed and homoskedastic. Generally, the empirical results show that the domestic private investment plays an important role in economic growth in Tanzania. FDI also tends to affect growth positively, while control variables such as high population growth and inflation appear to harm economic growth. Results also reveal that control variables such as trade openness and life expectancy improvement tend to increase real GDP growth. Moreover, a revealed negative, albeit weak, association between public and private investment suggests that the positive effect of domestic private investment on economic growth reduces when public investment-to-GDP ratio exceeds 8-10 percent. Thus, there is a great need for promoting domestic saving so as to encourage domestic investment for economic growth.

Keywords: FDI, public investment, domestic private investment, crowding out effect, economic growth

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8 Bioclimatic Niches of Endangered Garcinia indica Species on the Western Ghats: Predicting Habitat Suitability under Current and Future Climate

Authors: Malay K. Pramanik

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In recent years, climate change has become a major threat and has been widely documented in the geographic distribution of many plant species. However, the impacts of climate change on the distribution of ecologically vulnerable medicinal species remain largely unknown. The identification of a suitable habitat for a species under climate change scenario is a significant step towards the mitigation of biodiversity decline. The study, therefore, aims to predict the impact of current, and future climatic scenarios on the distribution of the threatened Garcinia indica across the northern Western Ghats using Maximum Entropy (MaxEnt) modelling. The future projections were made for the year 2050 and 2070 with all Representative Concentration Pathways (RCPs) scenario (2.6, 4.5, 6.0, and 8.5) using 56 species occurrence data, and 19 bioclimatic predictors from the BCC-CSM1.1 model of the Intergovernmental Panel for Climate Change’s (IPCC) 5th assessment. The bioclimatic variables were minimised to a smaller number of variables after a multicollinearity test, and their contributions were assessed using jackknife test. The AUC value of 0.956 ± 0.023 indicates that the model performs with excellent accuracy. The study identified that temperature seasonality (39.5 ± 3.1%), isothermality (19.2 ± 1.6%), and annual precipitation (12.7 ± 1.7%) would be the major influencing variables in the current and future distribution. The model predicted 10.5% (19318.7 sq. km) of the study area as moderately to very highly suitable, while 82.60% (151904 sq. km) of the study area was identified as ‘unsuitable’ or ‘very low suitable’. Our predictions of climate change impact on habitat suitability suggest that there will be a drastic reduction in the suitability by 5.29% and 5.69% under RCP 8.5 for 2050 and 2070, respectively. Finally, the results signify that the model might be an effective tool for biodiversity protection, ecosystem management, and species re-habitation planning under future climate change scenarios.

Keywords: Garcinia Indica, maximum entropy modelling, climate change, MaxEnt, Western Ghats, medicinal plants

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7 Principal Component Analysis of Body Weight and Morphometric Traits of New Zealand Rabbits Raised under Semi-Arid Condition in Nigeria

Authors: Emmanuel Abayomi Rotimi

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Context: Rabbits production plays important role in increasing animal protein supply in Nigeria. Rabbit production provides a cheap, affordable, and healthy source of meat. The growth of animals involves an increase in body weight, which can change the conformation of various parts of the body. Live weight and linear measurements are indicators of growth rate in rabbits and other farm animals. Aims: This study aimed to define the body dimensions of New Zealand rabbits and also to investigate the morphometric traits variables that contribute to body conformation by the use of principal component analysis (PCA). Methods: Data were obtained from 80 New Zealand rabbits (40 bucks and 40 does) raised in Livestock Teaching and Research Farm, Federal University Dutsinma. Data were taken on body weight (BWT), body length (BL), ear length (EL), tail length (TL), heart girth (HG) and abdominal circumference (AC). Data collected were subjected to multivariate analysis using SPSS 20.0 statistical package. Key results: The descriptive statistics showed that the mean BWT, BL, EL, TL, HG, and AC were 0.91kg, 27.34cm, 10.24cm, 8.35cm, 19.55cm and 21.30cm respectively. Sex showed significant (P<0.05) effect on all the variables examined, with higher values recorded for does. The phenotypic correlation coefficient values (r) between the morphometric traits were all positive and ranged from r = 0.406 (between EL and BL) to r = 0.909 (between AC and HG). HG is the most correlated with BWT (r = 0.786). The principal component analysis with variance maximizing orthogonal rotation was used to extract the components. Two principal components (PCs) from the factor analysis of morphometric traits explained about 80.42% of the total variance. PC1 accounted for 64.46% while PC2 accounted for 15.97% of the total variances. Three variables, representing body conformation, loaded highest in PC1. PC1 had the highest contribution (64.46%) to the total variance, and it is regarded as body conformation traits. Conclusions: This component could be used as selection criteria for improving body weight of rabbits.

Keywords: conformation, multicollinearity, multivariate, rabbits and principal component analysis

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6 Developing Countries and the Entrepreneurial Intention of Postgraduates: A Study of Nigerian Postgraduates in UUM

Authors: Mahmoud Ahmad Mahmoud

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The surge in unemployment among nations and the understanding of the important role played by entrepreneurship in job creation by researchers and policy makers have steered to the postulation that entrepreneurship activities can be spurred through the development of entrepreneurial intentions. Notwithstanding, entrepreneurial intention studies are very scarce in the developing world especially in the African continent. Even among the developed countries, studies of entrepreneurial intention were mostly focused on the undergraduate candidates. This paper therefore, aimed at filling the gap by employing the descriptive quantitative survey method to examine the entrepreneurial intention of 158 Nigerian postgraduate candidates of Universiti Utara Malaysia (UUM), comprising 46 Masters and 112 PhD candidates who are studying in the College of Business (COB), College of Arts and Sciences (CAS) and College of Legal, Government and International Studies (COLGIS), the theory of planned behaviour (TPB) model was used due its reputable validity, with attitudes, subjective norms and perceived behavioural control as the independent variables. Preliminary analysis and data screening were conducted which qualifies the data to the multivariate analysis assumptions. The reliability test was performed using the Cronbach Alpha method which shows all variables as reliable with a value of >0.70. However, the data is free from the multicollinearity issue with all factors in the Pearson correlation having <0.9 value and the VIF having <10. Regression analysis has shown the sufficiency and predictive capability of the TPB model to entrepreneurship intention with attitude, subjective norms and perceived behavioural control being positively and significantly related to the entrepreneurial intention of Nigerian postgraduates. Considering the Beta values, perceived behavioural control emerged as the strongest factor that influences the postgraduates entrepreneurial intention. Developing countries are therefore, recommended to make efforts in redesigning their entrepreneurship development policies to fit candidates of the highest level of academia. Further studies should replicate in a larger sample that comprises more than one university and more than one developing country.

Keywords: attitude, entrepreneurial intention, Nigeria, perceived behavioral control, postgraduates, subjective norms

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5 Determination of the Effective Economic and/or Demographic Indicators in Classification of European Union Member and Candidate Countries Using Partial Least Squares Discriminant Analysis

Authors: Esra Polat

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Partial Least Squares Discriminant Analysis (PLSDA) is a statistical method for classification and consists a classical Partial Least Squares Regression (PLSR) in which the dependent variable is a categorical one expressing the class membership of each observation. PLSDA can be applied in many cases when classical discriminant analysis cannot be applied. For example, when the number of observations is low and when the number of independent variables is high. When there are missing values, PLSDA can be applied on the data that is available. Finally, it is adapted when multicollinearity between independent variables is high. The aim of this study is to determine the economic and/or demographic indicators, which are effective in grouping the 28 European Union (EU) member countries and 7 candidate countries (including potential candidates Bosnia and Herzegovina (BiH) and Kosova) by using the data set obtained from database of the World Bank for 2014. Leaving the political issues aside, the analysis is only concerned with the economic and demographic variables that have the potential influence on country’s eligibility for EU entrance. Hence, in this study, both the performance of PLSDA method in classifying the countries correctly to their pre-defined groups (candidate or member) and the differences between the EU countries and candidate countries in terms of these indicators are analyzed. As a result of the PLSDA, the value of percentage correctness of 100 % indicates that overall of the 35 countries is classified correctly. Moreover, the most important variables that determine the statuses of member and candidate countries in terms of economic indicators are identified as 'external balance on goods and services (% GDP)', 'gross domestic savings (% GDP)' and 'gross national expenditure (% GDP)' that means for the 2014 economical structure of countries is the most important determinant of EU membership. Subsequently, the model validated to prove the predictive ability by using the data set for 2015. For prediction sample, %97,14 of the countries are correctly classified. An interesting result is obtained for only BiH, which is still a potential candidate for EU, predicted as a member of EU by using the indicators data set for 2015 as a prediction sample. Although BiH has made a significant transformation from a war-torn country to a semi-functional state, ethnic tensions, nationalistic rhetoric and political disagreements are still evident, which inhibit Bosnian progress towards the EU.

Keywords: classification, demographic indicators, economic indicators, European Union, partial least squares discriminant analysis

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4 Factors Influencing Capital Structure: Evidence from the Oil and Gas Industry of Pakistan

Authors: Muhammad Tahir, Mushtaq Muhammad

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Capital structure is one of the key decisions taken by the financial managers. This study aims to investigate the factors influencing capital structure decision in Oil and Gas industry of Pakistan using secondary data from published annual reports of listed Oil and Gas Companies of Pakistan. This study covers the time-period from 2008-2014. Capital structure can be affected by profitability, firm size, growth opportunities, dividend payout, liquidity, business risk, and ownership structure. Panel data technique with Ordinary least square (OLS) regression model has been used to find the impact of set of explanatory variables on the capital structure using the Stata. OLS regression results suggest that dividend payout, firm size and government ownership have the most significant impact on financial leverage. Dividend payout and government ownership are found to have significant negative association with financial leverage however firm size indicated positive relationship with financial leverage. Other variables having significant link with financial leverage includes growth opportunities, liquidity and business risk. Results reveal significant positive association between growth opportunities and financial leverage whereas liquidity and business risk are negatively correlated with financial leverage. Profitability and managerial ownership exhibited insignificant relationship with financial leverage. This study contributes to existing Managerial Finance literature with certain managerial implications. Academically, this research study describes the factors affecting capital structure decision of Oil and Gas Companies in Pakistan and adds latest empirical evidence to existing financial literature in Pakistan. Researchers have studies capital structure in Pakistan in general and industry at specific, nevertheless still there is limited literature on this issue. This study will be an attempt to fill this gap in the academic literature. This study has practical implication on both firm level and individual investor/ lenders level. Results of this study can be useful for investors/ lenders in making investment and lending decisions. Further, results of this study can be useful for financial managers to frame optimal capital structure keeping in consideration the factors that can affect capital structure decision as revealed by this study. These results will help financial managers to decide whether to issue stock or issue debt for future investment projects.

Keywords: capital structure, multicollinearity, ordinary least square (OLS), panel data

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3 The Influence of Operational Changes on Efficiency and Sustainability of Manufacturing Firms

Authors: Dimitrios Kafetzopoulos

Abstract:

Nowadays, companies are more concerned with adopting their own strategies for increased efficiency and sustainability. Dynamic environments are fertile fields for developing operational changes. For this purpose, organizations need to implement an advanced management philosophy that boosts changes to companies’ operation. Changes refer to new applications of knowledge, ideas, methods, and skills that can generate unique capabilities and leverage an organization’s competitiveness. So, in order to survive and compete in the global and niche markets, companies should incorporate the adoption of operational changes into their strategy with regard to their products and their processes. Creating the appropriate culture for changes in terms of products and processes helps companies to gain a sustainable competitive advantage in the market. Thus, the purpose of this study is to investigate the role of both incremental and radical changes into operations of a company, taking into consideration not only product changes but also process changes, and continues by measuring the impact of these two types of changes on business efficiency and sustainability of Greek manufacturing companies. The above discussion leads to the following hypotheses: H1: Radical operational changes have a positive impact on firm efficiency. H2: Incremental operational changes have a positive impact on firm efficiency. H3: Radical operational changes have a positive impact on firm sustainability. H4: Incremental operational changes have a positive impact on firm sustainability. In order to achieve the objectives of the present study, a research study was carried out in Greek manufacturing firms. A total of 380 valid questionnaires were received while a seven-point Likert scale was used to measure all the questionnaire items of the constructs (radical changes, incremental changes, efficiency and sustainability). The constructs of radical and incremental operational changes, each one as one variable, has been subdivided into product and process changes. Non-response bias, common method variance, multicollinearity, multivariate normal distribution and outliers have been checked. Moreover, the unidimensionality, reliability and validity of the latent factors were assessed. Exploratory Factor Analysis and Confirmatory Factor Analysis were applied to check the factorial structure of the constructs and the factor loadings of the items. In order to test the research hypotheses, the SEM technique was applied (maximum likelihood method). The goodness of fit of the basic structural model indicates an acceptable fit of the proposed model. According to the present study findings, radical operational changes and incremental operational changes significantly influence both efficiency and sustainability of Greek manufacturing firms. However, it is in the dimension of radical operational changes, meaning those in process and product, that the most significant contributors to firm efficiency are to be found, while its influence on sustainability is low albeit statistically significant. On the contrary, incremental operational changes influence sustainability more than firms’ efficiency. From the above, it is apparent that the embodiment of the concept of the changes into the products and processes operational practices of a firm has direct and positive consequences for what it achieves from efficiency and sustainability perspective.

Keywords: incremental operational changes, radical operational changes, efficiency, sustainability

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2 Incidences and Factors Associated with Perioperative Cardiac Arrest in Trauma Patient Receiving Anesthesia

Authors: Visith Siriphuwanun, Yodying Punjasawadwong, Suwinai Saengyo, Kittipan Rerkasem

Abstract:

Objective: To determine incidences and factors associated with perioperative cardiac arrest in trauma patients who received anesthesia for emergency surgery. Design and setting: Retrospective cohort study in trauma patients during anesthesia for emergency surgery at a university hospital in northern Thailand country. Patients and methods: This study was permitted by the medical ethical committee, Faculty of Medicine at Maharaj Nakorn Chiang Mai Hospital, Thailand. We clarified data of 19,683 trauma patients receiving anesthesia within a decade between January 2007 to March 2016. The data analyzed patient characteristics, traumas surgery procedures, anesthesia information such as ASA physical status classification, anesthesia techniques, anesthetic drugs, location of anesthesia performed, and cardiac arrest outcomes. This study excluded the data of trauma patients who had received local anesthesia by surgeons or monitoring anesthesia care (MAC) and the patient which missing more information. The factor associated with perioperative cardiac arrest was identified with univariate analyses. Multiple regressions model for risk ratio (RR) and 95% confidence intervals (CI) were used to conduct factors correlated with perioperative cardiac arrest. The multicollinearity of all variables was examined by bivariate correlation matrix. A stepwise algorithm was chosen at a p-value less than 0.02 was selected to further multivariate analysis. A P-value of less than 0.05 was concluded as statistically significant. Measurements and results: The occurrence of perioperative cardiac arrest in trauma patients receiving anesthesia for emergency surgery was 170.04 per 10,000 cases. Factors associated with perioperative cardiac arrest in trauma patients were age being more than 65 years (RR=1.41, CI=1.02–1.96, p=0.039), ASA physical status 3 or higher (RR=4.19–21.58, p < 0.001), sites of surgery (intracranial, intrathoracic, upper intra-abdominal, and major vascular, each p < 0.001), cardiopulmonary comorbidities (RR=1.55, CI=1.10–2.17, p < 0.012), hemodynamic instability with shock prior to receiving anesthesia (RR=1.60, CI=1.21–2.11, p < 0.001) , special techniques for surgery such as cardiopulmonary bypass (CPB) and hypotensive techniques (RR=5.55, CI=2.01–15.36, p=0.001; RR=6.24, CI=2.21–17.58, p=0.001, respectively), and patients who had a history of being alcoholic (RR=5.27, CI=4.09–6.79, p < 0.001). Conclusion: Incidence of perioperative cardiac arrest in trauma patients receiving anesthesia for emergency surgery was very high and correlated with many factors, especially age of patient and cardiopulmonary comorbidities, patient having a history of alcoholic addiction, increasing ASA physical status, preoperative shock, special techniques for surgery, and sites of surgery including brain, thorax, abdomen, and major vascular region. Anesthesiologists and multidisciplinary teams in pre- and perioperative periods should remain alert for warning signs of pre-cardiac arrest and be quick to manage the high-risk group of surgical trauma patients. Furthermore, a healthcare policy should be promoted for protecting against accidents in high-risk groups of the population as well.

Keywords: perioperative cardiac arrest, trauma patients, emergency surgery, anesthesia, factors risk, incidence

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1 Empirical Study on Causes of Project Delays

Authors: Khan Farhan Rafat, Riaz Ahmed

Abstract:

Renowned offshore organizations are drifting towards collaborative exertion to win and implement international projects for business gains. However, devoid of financial constraints, with the availability of skilled professionals, and despite improved project management practices through state-of-the-art tools and techniques, project delays have become a norm these days. This situation calls for exploring the factor(s) affecting the bonding between project management performance and project success. In the context of the well-known 3M’s of project management (that is, manpower, machinery, and materials), machinery and materials are dependent upon manpower. Because the body of knowledge inveterate on the influence of national culture on men, hence, the realization of the impact on the link between project management performance and project success need to be investigated in detail to arrive at the possible cause(s) of project delays. This research initiative was, therefore, undertaken to fill the research gap. The unit of analysis for the proposed research excretion was the individuals who had worked on skyscraper construction projects. In reverent studies, project management is best described using construction examples. It is due to this reason that the project oriented city of Dubai was chosen to reconnoiter on causes of project delays. A structured questionnaire survey was disseminated online with the courtesy of the Project Management Institute local chapter to carry out the cross-sectional study. The Construction Industry Institute, Austin, of the United States of America along with 23 high-rise builders in Dubai were also contacted by email requesting for their contribution to the study and providing them with the online link to the survey questionnaire. The reliability of the instrument was warranted using Cronbach’s alpha coefficient of 0.70. The appropriateness of sampling adequacy and homogeneity in variance was ensured by keeping Kaiser–Meyer–Olkin (KMO) and Bartlett’s test of sphericity in the range ≥ 0.60 and < 0.05, respectively. Factor analysis was used to verify construct validity. During exploratory factor analysis, all items were loaded using a threshold of 0.4. Four hundred and seventeen respondents, including members from top management, project managers, and project staff, contributed to the study. The link between project management performance and project success was significant at 0.01 level (2-tailed), and 0.05 level (2-tailed) for Pearson’s correlation. Before initiating the moderator analysis test for linearity, multicollinearity, outliers, leverage points and influential cases, test for homoscedasticity and normality were carried out which are prerequisites for conducting moderator review. The moderator analysis, using a macro named PROCESS, was performed to verify the hypothesis that national culture has an influence on the said link. The empirical findings, when compared with Hofstede's results, showed high power distance as the cause of construction project delays in Dubai. The research outcome calls for the project sponsors and top management to reshape their project management strategy and allow for low power distance between management and project personnel for timely completion of projects.

Keywords: causes of construction project delays, construction industry, construction management, power distance

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