Search results for: pairs trading

Authors: Khoi A. Nguyen, Rodney A. Stewart, Hong Zhang

Abstract:

Advanced metering technologies coupled with informatics creates an opportunity to form digital multi-utility service providers. These providers will be able to concurrently collect a customers’ medium-high resolution water, electricity and gas demand data and provide user-friendly platforms to feed this information back to customers and supply/distribution utility organisations. With the emergence of blockchain technology, a new research area has been explored which helps bring this multi-utility service provider concept to a much higher level. This study aims at introducing a breakthrough system architecture where smart metering technology in water, energy, and gas (WEG) are combined with blockchain technology to provide customer a novel real-time consumption report and decentralized resource trading platform. A pilot study on 4 properties in Australia has been undertaken to demonstrate this system, where benefits for customers and utilities are undeniable.

Keywords: blockchain, digital multi-utility, end use, demand forecasting

Procedia PDF Downloads 150

Authors: E. Younsi, H. Andriamboavonjy, A. David, S. Dokou, B. Lemrabet

Abstract:

Software and time optimization are very important factors in financial markets, which are competitive fields, and emergence of new computer tools further stresses the challenge. In this context, any improvement of technical indicators which generate a buy or sell signal is a major issue. Thus, many tools have been created to make them more effective. This worry about efficiency has been leading in present paper to seek best (and most innovative) way giving largest improvement in these indicators. The approach consists in attaching a signature to frequent market configurations by application of frequent patterns extraction method which is here most appropriate to optimize investment strategies. The goal of proposed trading algorithm is to find most accurate signatures using back testing procedure applied to technical indicators for improving their performance. The problem is then to determine the signatures which, combined with an indicator, outperform this indicator alone. To do this, the FP-Tree algorithm has been preferred, as it appears to be the most efficient algorithm to perform this task.

Keywords: quantitative analysis, back-testing, computational models, apriori algorithm, pattern recognition, data mining, FP-tree

Procedia PDF Downloads 334

Authors: Abdul Azeez Badmus

Abstract:

The extent to which women are allowed to express their liberty and freedom are varying in human society. Islam’s basic view of women postulates a complimentary function as the creator has created every living thing in pairs based on the foundation of complimentary functions, so the human species is not exceptional. It is also ubiquitous contention whether women should participate in politics or not; the limit to which women should participate in politics is another problem. This paper attempts to suggest a possible solution to the questions mentioned above, to review the level of participation of women in politics since the beginning of Islam and the Quranic injunctions that seem to have allowed or disallowed that. The paper adopts a historical and analytical approach, with special reference to the Quranic, Sunna, juristic opinions, and historical events. The paper advocates for proper reference to the authentic Islamic sources in determining the right and obligations of women in society.

Keywords: politics, right, challenges, Qur’ān, perspective

Procedia PDF Downloads 160

Authors: Chih-Hsiang Chang, Fang-Jyun Su

Abstract:

This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.

Keywords: stock characteristics, herding formation, investment decision, US equity market, lead-lag relationship

Procedia PDF Downloads 250

Authors: Ijaz Ahmed, Anwar Zada, Muhammad Waqas, M. U. Ashraf

Abstract:

We demonstrate the performance of a very efficient tagger applies on hadronically decaying top quark pairs as signal based on deep neural network algorithms and compares with the QCD multi-jet background events. A significant enhancement of performance in boosted top quark events is observed with our limited computing resources. We also compare modern machine learning approaches and perform a multivariate analysis of boosted top-pair as well as single top quark production through weak interaction at √s = 14 TeV proton-proton Collider. The most relevant known background processes are incorporated. Through the techniques of Boosted Decision Tree (BDT), likelihood and Multlayer Perceptron (MLP) the analysis is trained to observe the performance in comparison with the conventional cut based and count approach

Keywords: top tagger, multivariate, deep learning, LHC, single top

Procedia PDF Downloads 77

Authors: Ladaporn Pithuk

Abstract:

This study aims to investigate the marketing mixed factors that affecting on expectations about commercial transactions through social networks. The research method will using quantitative research, data was collected by questionnaires to person have experience access to trading over the internet for 400 sample by purposive sampling method. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and using quality function deployment for hypothesis testing. Finding the most significant interrelationship between marketing mixed factors and commercial transactions expectations through social networks are product and place the relationship of five ties product and place (location) is involved in almost all will make the site a model that meets the needs of the user visit. In terms of price, the promotion, privacy, personalization and providing a process technical. This will make operations more efficient, reduce confusion, duplication, delays in data transmission, including the creation of different elements in products and services.

Keywords: commercial transactions expectations, marketing mixed factors, social networks, consumer behavior

Procedia PDF Downloads 207

Authors: Rodrigo Zepeda

Abstract:

Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

Procedia PDF Downloads 266

Authors: Takeru Furuawa, Kohei Takizawa, Daisuke Kuwahara, Shunjiro Shinohara

Abstract:

In the field of a space propulsion, an electric propulsion system has been developed because its fuel efficiency is much higher than a conventional chemical one. However, the practical electric propulsion systems, e.g., an ion engine, have a problem of short lifetime due to a damage of generation and acceleration electrodes of the plasma. A helicon plasma thruster is proposed as a long-lifetime electric thruster which has non-direct contact electrodes. In this system, both generation and acceleration methods of a dense plasma are executed by antennas from the outside of a discharge tube. Development of the helicon plasma thruster has been conducting under the Helicon Electrodeless Advanced Thruster (HEAT) project. Our helicon plasma thruster has two important processes. First, we generate a dense source plasma using a helicon wave with an excitation frequency between an ion and an electron cyclotron frequencies, fci and fce, respectively, applied from the outside of a discharge using a radio frequency (RF) antenna. The helicon plasma source can provide a high-density (~1019 m-3), a high-ionization ratio (up to several tens of percent), and a high particle generation efficiency. Second, in order to achieve high thrust and specific impulse, we accelerate the dense plasma by the axial Lorentz force fz using the product of the induced azimuthal current jθ and the static radial magnetic field Br, shown as fz = jθ × Br. The HEAT project has proposed several kinds of electrodeless acceleration schemes, and in our particular case, a Rotating Magnetic Field (RMF) method has been extensively studied. The RMF scheme was originally developed as a concept to maintain the Field Reversed Configuration (FRC) in a magnetically confined fusion research. Here, RMF coils are expected to generate jθ due to a nonlinear effect shown below. First, the rotating magnetic field Bω is generated by two pairs of RMF coils with AC currents, which have a phase difference of 90 degrees between the pairs. Due to the Faraday’s law, an axial electric field is induced. Second, an axial current is generated by the effects of an electron-ion and an electron-neutral collisions through the Ohm’s law. Third, the azimuthal electric field is generated by the nonlinear term, and the retarding torque generated by the collision effects again. Then, azimuthal current jθ is generated as jθ = - nₑ er ∙ 2π fRMF. Finally, the axial Lorentz force fz for plasma acceleration is generated. Here, jθ is proportional to nₑ and frequency of RMF coil current fRMF, when Bω is fully penetrated into the plasma. Our previous study has achieved 19 % increase of ion velocity using the 5 MHz and 50 A of the RMF coil power supply. In this presentation, we will show the improvement of the ion velocity using the lower frequency and higher current supplied by RMF power supply. In conclusion, helicon high-density plasma production and electromagnetic acceleration by the RMF scheme with a concept of electrodeless condition have been successfully executed.

Keywords: electric propulsion, electrodeless thruster, helicon plasma, rotating magnetic field

Procedia PDF Downloads 237

Authors: J. Martin Leal-Graciano, Juan J. Pérez-Gavilán, A. Reyes-Salazar, J. H. Castorena, J. L. Rivera-Salas

Abstract:

The experimental results about the global behavior of twelve 1:2 scaled reinforced concrete frame subject to in-plane lateral load are presented. The main objective was to generate experimental evidence about the use of steel bars within mortar bed-joints as shear reinforcement in infill walls. Similar to the Canadian and New Zealand standards, the Mexican code includes specifications for this type of reinforcement. However, these specifications were obtained through experimental studies of load-bearing walls, mainly confined walls. Little information is found in the existing literature about the effects of joint reinforcement on the seismic behavior of infill masonry walls. Consequently, the Mexican code establishes the same equations to estimate the contribution of joint reinforcement for both confined walls and infill walls. A confined masonry construction and a reinforced concrete frame infilled with masonry walls have similar appearances. However, substantial differences exist between these two construction systems, which are mainly related to the sequence of construction and to how these structures support vertical and lateral loads. To achieve the objective established, ten reinforced concrete frames with masonry infill walls were built and tested in pairs, having both specimens in the pair identical characteristics except that one of them included joint reinforcement. The variables between pairs were the type of units, the size of the columns of the frame and the aspect ratio of the wall. All cases included tie-columns and tie-beams on the perimeter of the wall to anchor the joint reinforcement. Also, two bare frame with identical characteristic to the infilled frames were tested. The purpose was to investigate the effects of the infill wall on the behavior of the system to in-plane lateral load. In addition, the experimental results were compared with the prediction of the Mexican code. All the specimens were tested in cantilever under reversible cyclic lateral load. To simulate gravity load, constant vertical load was applied on the top of the columns. The results indicate that the contribution of the joint reinforcement to lateral strength depends on the size of the columns of the frame. Larger size columns produce a failure mode that is predominantly a sliding mode. Sliding inhibits the production of new inclined cracks, which are necessary to activate (deform) the joint reinforcement. Regarding the effects of joint reinforcement in the performance of confined masonry walls, many facts were confirmed for infill walls: this type of reinforcement increases the lateral strength of the wall, produces a more distributed cracking and reduces the width of the cracks. Moreover, it reduces the ductility demand of the system at maximum strength. The prediction of the lateral strength provided by the Mexican code is property in some cases; however, the effect of the size of the columns on the contribution of joint reinforcement needs to be better understood.

Keywords: experimental study, Infill wall, Infilled frame, masonry wall

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Authors: Butta Singh

Abstract:

This paper presents a chaotic map based approach for secured embedding of patient’s confidential data in electrocardiogram (ECG) signal. The chaotic map generates predefined locations through the use of selective control parameters. The sample value difference method effectually hides the confidential data in ECG sample pairs at these predefined locations. Evaluation of proposed method on all 48 records of MIT-BIH arrhythmia ECG database demonstrates that the embedding does not alter the diagnostic features of cover ECG. The secret data imperceptibility in stego-ECG is evident through various statistical and clinical performance measures. Statistical metrics comprise of Percentage Root Mean Square Difference (PRD) and Peak Signal to Noise Ratio (PSNR). Further, a comparative analysis between proposed method and existing approaches was also performed. The results clearly demonstrated the superiority of proposed method.

Keywords: chaotic maps, ECG steganography, data embedding, electrocardiogram

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Authors: Pushpavathi M., Kavya V., Akshatha V.

Abstract:

Introduction: Cleft lip and palate (CLP) is a congenital condition which hinders effectual communication due to associated speech and language difficulties. Expressive language delay (ELD) is a feature seen in this population which is influenced by factors such as type and severity of CLP, age at surgical and linguistic intervention and also the type and intensity of speech and language therapy (SLT). Since CLP is the most common congenital abnormality seen in Indian children, early intervention is a necessity which plays a critical role in enhancing their speech and language skills. The interaction between the timing of intervention and factors which contribute to effective intervention by caregivers is an area which needs to be explored. Objectives: The present study attempts to determine the effect of timing of intervention on the contributing maternal factors for effective linguistic intervention in toddlers with repaired CLP with respect to the awareness, home training patterns, speech and non-speech behaviors of the mothers. Participants: Thirty six toddlers in the age range of 1 to 4 years diagnosed as ELD secondary to repaired CLP, along with their mothers served as participants. Group I (Early Intervention Group, EIG) included 19 mother-child pairs who came to seek SLT soon after corrective surgery and group II (Delayed Intervention Group, DIG) included 16 mother-child pairs who received SLT after the age of 3 years. Further, the groups were divided into group A, and group B. Group ‘A’ received SLT for 60 sessions by Speech Language Pathologist (SLP), while Group B received SLT for 30 sessions by SLP and 30 sessions only by mother without supervision of SLP. Method: The mothers were enrolled for the Early Language Intervention Program and following this, their awareness about CLP was assessed through the Parental awareness questionnaire. The quality of home training was assessed through Mohite’s Inventory. Subsequently, the speech and non-speech behaviors of the mothers were assessed using a Mother’s behavioral checklist. Detailed counseling and orientation was done to the mothers, and SLT was initiated for toddlers. After 60 sessions of intensive SLT, the questionnaire and checklists were re-administered to find out the changes in scores between the pre- and posttest measurements. Results: The scores obtained under different domains in the awareness questionnaire, Mohite’s inventory and Mothers behavior checklist were tabulated and subjected to statistical analysis. Since the data did not follow normal distribution (i.e. p > 0.05), Mann-Whitney U test was conducted which revealed that there was no significant difference between groups I and II as well as groups A and B. Further, Wilcoxon Signed Rank test revealed that mothers had better awareness regarding issues related to CLP and improved home-training abilities post-orientation (p ≤ 0.05). A statistically significant difference was also noted for speech and non-speech behaviors of the mothers (p ≤ 0.05). Conclusions: Extensive orientation and counseling helped mothers of both EI and DI groups to improve their knowledge about CLP. Intensive SLT using focused stimulation and a parent-implemented approach enabled them to carry out the intervention in an effectual manner.

Keywords: awareness, cleft lip and palate, early language intervention program, home training, orientation, timing of intervention

Procedia PDF Downloads 100

Authors: J. Martin Leal-Graciano, Juan J. Pérez-Gavilán, A. Reyes-Salazar, J. H. Castorena, J. L. Rivera-Salas

Abstract:

The experimental results about the global behavior of twelve 1:2 scaled reinforced concrete frames subject to in-plane lateral load are presented. The main objective was to generate experimental evidence about the use of steel bars within mortar bed joints as shear reinforcement in infill walls. Similar to the Canadian and New Zealand standards, the Mexican code includes specifications for this type of reinforcement. However, these specifications were obtained through experimental studies of load-bearing walls, mainly confined walls. Little information is found in the existing literature about the effects of joint reinforcement on the seismic behavior of infill masonry walls. Consequently, the Mexican code establishes the same equations to estimate the contribution of joint reinforcement for both confined walls and infill walls. Confined masonry construction and a reinforced concrete frame infilled with masonry walls have similar appearances. However, substantial differences exist between these two construction systems, which are mainly related to the sequence of construction and to how these structures support vertical and lateral loads. To achieve the objective established, ten reinforced concrete frames with masonry infill walls were built and tested in pairs, having both specimens in the pair identical characteristics except that one of them included joint reinforcement. The variables between pairs were the type of units, the size of the columns of the frame, and the aspect ratio of the wall. All cases included tie columns and tie beams on the perimeter of the wall to anchor the joint reinforcement. Also, two bare frames with identical characteristics to the infilled frames were tested. The purpose was to investigate the effects of the infill wall on the behavior of the system to in-plane lateral load. In addition, the experimental results were compared with the prediction of the Mexican code. All the specimens were tested in a cantilever under reversible cyclic lateral load. To simulate gravity load, constant vertical load was applied on the top of the columns. The results indicate that the contribution of the joint reinforcement to lateral strength depends on the size of the columns of the frame. Larger size columns produce a failure mode that is predominantly a sliding mode. Sliding inhibits the production of new inclined cracks, which are necessary to activate (deform) the joint reinforcement. Regarding the effects of joint reinforcement in the performance of confined masonry walls, many facts were confirmed for infill walls. This type of reinforcement increases the lateral strength of the wall, produces a more distributed cracking, and reduces the width of the cracks. Moreover, it reduces the ductility demand of the system at maximum strength. The prediction of the lateral strength provided by the Mexican code is a property in some cases; however, the effect of the size of the columns on the contribution of joint reinforcement needs to be better understood.

Keywords: experimental study, infill wall, infilled frame, masonry wall

Procedia PDF Downloads 149

Authors: Maria Tsompanoglou, Dimitris Armenis

Abstract:

Vessel behavior in different operational and weather conditions constitutes the main area of interest for the ship operator. Ship speed and fuel consumption are the most decisive parameters in this respect, as their correlation provides information about the economic and environmental efficiency of the vessel, becoming the basis of decision making in terms of maintenance and trading. In the analysis of vessel operational profile for the evaluation of fuel consumption and the equivalent CO2 emissions footprint, the indications of Speed Through Water are widely used. The seasonal and regional variations in seawater characteristics, which are available nowadays, can provide the basis for accurate estimation of the errors in Speed Through Water indications at any time. Accuracy in the speed value on a route basis can enable operator identify the ship fuel and propulsion efficiency and proceed with improvements. This paper discusses case studies, where the actual vessel speed was corrected by a post-processing algorithm. The effects of the vessel correction to standard Key Performance Indicators, as well as operational findings not identified earlier, are also discussed.

Keywords: data analytics, MATLAB, vessel performance monitoring, speed through water

Procedia PDF Downloads 273

Authors: Nanik Hidayatik, Dondin Sajuthi, Tuty L. Yusuf, Muhammad Agil, Entang Iskandar

Abstract:

Copulatory (mating) pattern was varied among mammals, and species may have species-typical patterns. Studies on mating behavior of tarsier that had been reported were study on Tarsius bancanus. Whereas, until now mating behavior of Tarsius tarsier has never been reported. The aim of this study was to study the mating behavior of T. tarsier in captivity. Three pairs of T. tarsier housed at the Primate Research Center of Bogor Agricultural University, Indonesia was observed using focal animal sampling method. The mating behavior was started with mounting by male followed with quick thrusting and slow thrusting, with duration range 3-4 minutes. When slow thrusting by male displayed, female shouted vocalization, and at the end, male remained motionless with his penis inserted in female genitalia. Mating behavior in T. tarsier occurred only once in the first oestrus day. Mating pattern in T. tarsier was similarly to T. bancanus.

Keywords: mating, mounting, Tarsius tarsier, thrusting

Procedia PDF Downloads 248

Authors: Ying Zhang

Abstract:

Surface waves provide critical constraints about the earth's structure in the crust and upper mantle. However, different modes of Love waves with close group velocities often arrive at a similar time and interfere with each other. This problem is typical for Love waves at intermediate periods that travel through the oceanic lithosphere. Therefore, we developed a two-step inversion approach to separate the waveforms of the fundamental and first higher mode of Love waves. We first solve the phase velocities of the two modes and their amplitude ratios. The misfit function is based on the sum of phase differences among the station pairs. We then solve the absolute amplitudes of the two modes and their initial phases using obtained phase velocities and amplitude ratio. The separated waveforms of each mode from the two-step inversion method can be further used in surface wave tomography to improve model resolution.

Keywords: surface wave inversion, waveform separation, love waves, higher-mode interference

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Authors: T. H. Young, Y. J. Tsai

Abstract:

A method for determining the stress distribution of a rectangular plate subjected to two pairs of arbitrarily distributed in-plane edge shear loads is proposed, and the free vibration and buckling of such a rectangular plate are investigated in this work.  The method utilizes two stress functions to synthesize the stress-resultant field of the plate with each of the stress functions satisfying the biharmonic compatibility equation. The sum of stress-resultant fields due to these two stress functions satisfies the boundary conditions at the edges of the plate, from which these two stress functions are determined. Then, the free vibration and buckling of the rectangular plate are investigated by the Galerkin method. Numerical results obtained by this work are compared with those appeared in the literature, and good agreements are observed.

Keywords: stress analysis, free vibration, plate buckling, nonuniform in-plane edge shear

Procedia PDF Downloads 125

Authors: Wan-Hsin Hsieh, Chieh-Fu Chang, Ming-Seng Kao

Abstract:

In this paper, a novel method termed the Phase Coherence Acquisition (PCA) is proposed for pseudo-random (PN) sequence acquisition. By employing complex phasors, the PCA requires only complex additions in the order of N, the length of the sequence, whereas the conventional method utilizing fast Fourier transform (FFT) requires complex multiplications and additions both in the order of Nlog2N . In order to combat noise, the input and local sequences are partitioned and mapped into complex phasors in PCA. The phase differences between pairs of input and local phasors are utilized for acquisition, and thus complex multiplications are avoided. For more noise-robustness capability, the multi-layer PCA is developed to extract the code phase step by step. The significant reduction of computational loads makes the PCA an attractive method, especially when the sequence length of is extremely large which becomes intractable for the FFT-based acquisition.

Keywords: FFT, PCA, PN sequence, convolution theory

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Authors: Yu-Jen Shih, Yao-Hui Hunag

Abstract:

Electrocoagulation (EC) using metallic nickel foam as anode and cathode for the removal of boron from solution was studied. The electrolytic parameters included pH, current density, and initial boron concentration for optimizing the EC process. Experimental results showed that removal efficiency was increased by elevating pH from 4.0 to 8.0, and then decreased at higher pH. The electrolytic efficacy was not affected by current density. In respect of energy consumption, 1.25 mA/cm2 of current density was acceptable for an effective EC of boron, while increasing boric acid from 10 to 100 ppm-B did not impair removal efficiency too much. Cyclic voltammetry indicated that the oxide film, Ni(OH)2 and NiOOH, at specific overpotentials would result in less weight loss of anode than that predicted by the Faraday’s law. The optimal conditions under which 99.2% of boron was removed and less than 1 ppm-B remained in the electrolyte would be pH 8, four pairs of electrodes, and 1.25 mA/cm2 in 120 min as treating wastewaters containing 10 ppm-B. XRD and SEM characterization suggested that the granular crystallites of hydroxide precipitates was composed of theophrastite.

Keywords: borohydrides, hydrogen generation, NiOOH, electrocoagulation, cyclic voltammetry, boron removal

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Authors: Luigi Delle Rose, Oliver Fischer, Ahmed Hammad

Abstract:

In this article, we study the prospects of the proposed Large Hadron electron Collider (LHeC) in the search for heavy neutral scalar particles. We consider a minimal model with one additional complex scalar singlet that interacts with the Standard Model (SM) via mixing with the Higgs doublet, giving rise to an SM-like Higgs boson and a heavy scalar particle. Both scalar particles are produced via vector boson fusion and can be tested via their decays into pairs of SM particles, analogously to the SM Higgs boson. Using multivariate techniques, we show that the LHeC is sensitive to heavy scalars with masses between 200 and 800 GeV down to scalar mixing of order 0.01.

Keywords: beyond the standard model, large hadron electron collider, multivariate analysis, scalar singlet

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Authors: Herjuno Bagus Wicaksono, Emma Almira Fauni, Salma Amelia Dina

Abstract:

The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient.

Keywords: efficient market hypothesis, Indonesia sharia stock index, random walk, weak form efficiency

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Authors: Bangkit Adhi Nugraha, Bambang Suripto

Abstract:

On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.

Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016

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Authors: Apedzan Emmanuel Kighir

Abstract:

This research investigates dividends smoothing among non-financial companies trading on the Nigerian Stock Exchange in an era of unclaimed dividends from 2004 to 2013. There has been a raging controversy among Regulatory Authorities, Company Executives, Registrars of Companies, Shareholders and the general public regarding the increasing incidence of unclaimed dividends in Nigeria. The objective of this study is to find out if corporate earnings management through dividends smoothing is implicated in unclaimed dividends among Nigerian non-financial firms. The research used panel data and employed Generalized Method of Moment as method of analysis. The research finds evidence of dividends-smoothing in this era of unclaimed dividends in Nigeria. The research concludes that dividends-smoothing is a trigger and red flag for unclaimed dividends, an output of earnings management. If earnings management and hence unclaimed dividends in Nigeria is allowed to continue, it will lead to great consequences to the investors and corporate policy of government. It is believed that the research will assist investors and government in making informed decisions regarding dividends policy in Nigeria.

Keywords: dividends smoothing, non financial companies, Nigerian stock exchange, unclaimed dividends, corporate earnings management

Procedia PDF Downloads 249

Authors: A. Bhartiya, S. Botchway, M. Yusuf, I. Robinson

Abstract:

Chromatin condensation is maintained by DNA-based proteins and some divalent cations (Mg²⁺, Ca²⁺, etc.). Condensation process during cell division maintains structural and functional organizations of chromosomes by transferring genetic information correctly to daughter cells. Fluorescence Lifetime Imaging (FLIM) technique measures the fluorescence decay of fixed human chromosomes by calculating the lifetime of fluorophores at a pixel x of the arrival of each photon as a function of time delay t, following excitation with a laser pulse. Fixed metaphase human chromosomes were labelled with DNA-binding dye, DAPI and later DAPI fluorescence lifetime measured using multiphoton microscopy. 5 out of 23 pairs of human chromosomes shown shorter lifetime at the centromere region, differentiating proportion of compaction along the length of chromosomes. Different lifetime was observed in a condensed and de-condensed chromosome. It clearly indicates the involvement of divalent cations in the process of condensation.

Keywords: divalent cations, FLIM (Fluorescence Lifetime Imaging), human chromosomes, multiphoton microscopy

Procedia PDF Downloads 248

Authors: Patik Joslin Kenfack, Polyakov Vladimir Mikhailovich

Abstract:

Machine Learning (ML) systems are trained using human generated data that could be biased by implicitly containing racist, sexist, or discriminating data. ML models learn those biases or even amplify them. Recent research in work on has begun to consider issues of fairness. The concept of fairness is extended to recommendation. A recommender system will be considered fair if it doesn’t under rank items of protected group (gender, race, demographic...). Several metrics for evaluating fairness concerns in recommendation systems have been proposed, which take pairs of items as ‘instances’ in fairness evaluation. It doesn’t take in account the fact that the fairness should be evaluated across a list of items. The paper explores a probabilistic approach that generalize pairwise metric by using a list k (listwise) of items as ‘instances’ in fairness evaluation, parametrized by k. We also explore new regularization method based on this metric to improve fairness ranking during model training.

Keywords: Fairness, Recommender System, Ranking, Listwise Approach

Procedia PDF Downloads 117

Authors: Guang-Ho Cha

Abstract:

This paper presents a context-sensitive media similarity search algorithm. One of the central problems regarding media search is the semantic gap between the low-level features computed automatically from media data and the human interpretation of them. This is because the notion of similarity is usually based on high-level abstraction but the low-level features do not sometimes reflect the human perception. Many media search algorithms have used the Minkowski metric to measure similarity between image pairs. However those functions cannot adequately capture the aspects of the characteristics of the human visual system as well as the nonlinear relationships in contextual information given by images in a collection. Our search algorithm tackles this problem by employing a similarity measure and a ranking strategy that reflect the nonlinearity of human perception and contextual information in a dataset. Similarity search in an image database based on this contextual information shows encouraging experimental results.

Keywords: context-sensitive search, image search, similarity ranking, similarity search

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Authors: Olakunle Felix Adekunle

Abstract:

In the recent years several non-tariff provisions have been regarded as means holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to In recent years, several non‐tariff trade provisions have been regarded as means of holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to enforce the adoption of environmental policies elsewhere. These non‐tariff trade constraints are claimed to threaten the freedom of trading across nations, as well as the harmonization sought towards the distribution of income and policy measures. Therefore the ‘greening’ of world trade issues essentially ranges over whether there ought or ought not to be a trade‐off between trade and environmental policies. The impacts of free trade and environmental policies on major economic variables (such as trade flows, balances of trade, resource allocation, output, consumption and welfare) are thus studied here, and so is the EKC hypothesis, when such variables are played against the resulting emission levels. The policy response is seen as a political game, played here by two representative parties named North and South. Whether their policy choices, simulated by four scenarios, are right or wrong depends on their policy goals, split into economic and environmental ones.

Keywords: environmental, policies, strategies, constraint

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Authors: M. Al Azri, M. Elzain, K. Bouziane, S. M. Chérif

Abstract:

n-Type 6H-SiC(0001) substrates were implanted with three fluencies of Mn+ 5x1015 Mn/cm2 (Mn content: 0.7%), 1x1016 (~2 %), and 5x1016 cm–2 (7%) with implantation energy of 80 keV and substrate temperature of 365ºC. The samples were characterized using Rutherford Backscattering and Channeling Spectroscopy (RBS/C), High-Resolution X-Ray Diffraction technique (HRXRD), micro-Raman Spectroscopy (μRS), and Superconducting Quantum Interference Device (SQUID) techniques. The aim of our work is to investigate implantation induced defects with dose and to study any correlation between disorder-composition and magnetic properties. In addition, ab-initio calculations were used to investigate the structural and magnetic properties of Mn-doped 6H-SiC. Various configurations of Mn sites and vacancy types were considered. The calculations showed that a substitutional Mn atom at Si site possesses larger magnetic moment than Mn atom at C site. A model is introduced to explain the dependence of the magnetic structure on site occupation. The magnetic properties of ferromagnetically (FM) and antiferromagnetically (AFM) coupled pairs of Mn atoms with and without neighboring vacancies have also been explored.

Keywords: ab-initio calculations, diluted magnetic semiconductors, magnetic properties, silicon carbide

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Authors: Rui Yin, Haojie Wang, Xun Li

Abstract:

Recently, mainstream dense retrieval methods have obtained state-of-the-art results on some datasets and tasks. However, they require large amounts of training data, which is not available in most domains. The severe performance degradation of dense retrievers on new data domains has limited the use of dense retrieval methods to only a few domains with large training datasets. In this paper, we propose an unsupervised domain-adaptive approach based on query generation. First, a generative model is used to generate relevant queries for each passage in the target corpus, and then the generated queries are used for mining negative passages. Finally, the query-passage pairs are labeled with a cross-encoder and used to train a domain-adapted dense retriever. Experiments show that our approach is more robust than previous methods in target domains that require less unlabeled data.

Keywords: dense retrieval, query generation, unsupervised training, text retrieval

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Authors: Afia Naheed, Manmohan Singh, David Lucy

Abstract:

This work is based on a mathematical as well as statistical study of an SEIJTR deterministic model for the interpretation of transmission of severe acute respiratory syndrome (SARS). Based on the SARS epidemic in 2003, the parameters are estimated using Runge-Kutta (Dormand-Prince pairs) and least squares methods. Possible graphical and numerical techniques are used to validate the estimates. Then effect of the model parameters on the dynamics of the disease is examined using sensitivity and uncertainty analysis. Sensitivity and uncertainty analytical techniques are used in order to analyze the affect of the uncertainty in the obtained parameter estimates and to determine which parameters have the largest impact on controlling the disease dynamics.

Keywords: infectious disease, severe acute respiratory syndrome (SARS), parameter estimation, sensitivity analysis, uncertainty analysis, Runge-Kutta methods, Levenberg-Marquardt method

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Authors: Christopher Webb

Abstract:

This work presents a new model of mentoring in an organizational environment and has important implications for both practice and research, the model frames the organizational environment as organizational curriculum, which includes the elements that affect learning within the organization. This includes the organizational structure and culture, roles within the organization, and accessibility of knowledge. The program curriculum includes the elements of the mentoring program, including materials, training, and scheduled events for the program participants. The term dyadic curriculum is coined in this work. The dyadic curriculum describes the participation, behavior, and identities of the pairs participating in mentorships. This also includes the identity work of the participants and their views of each other. Much of this curriculum is unprescribed and is unique within each dyad. It describes how participants mediate the elements of organizational and program curricula. These three curricula interact and affect each other in predictable ways. A detailed example of a mentoring program framed in this model is provided.

Keywords: curriculum, mentoring, organizational learning and development, social learning

Procedia PDF Downloads 169