Search results for: rolling stocks

Authors: Suraj Mehrotra

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The stock market is a volatile, bustling marketplace that is a cornerstone of economics. It defines whether companies are successful or in spiral. A thorough understanding of it is important - many companies have whole divisions dedicated to analysis of both their stock and of rivaling companies. Linking the world of finance and artificial intelligence (AI), especially the stock market, has been a relatively recent development. Predicting how stocks will do considering all external factors and previous data has always been a human task. With the help of AI, however, machine learning models can help us make more complete predictions in financial trends. Taking a look at the stock market specifically, predicting the open, closing, high, and low prices for the next day is very hard to do. Machine learning makes this task a lot easier. A model that builds upon itself that takes in external factors as weights can predict trends far into the future. When used effectively, new doors can be opened up in the business and finance world, and companies can make better and more complete decisions. This paper explores the various techniques used in the prediction of stock prices, from traditional statistical methods to deep learning and neural networks based approaches, among other methods. It provides a detailed analysis of the techniques and also explores the challenges in predictive analysis. For the accuracy of the testing set, taking a look at four different models - linear regression, neural network, decision tree, and naïve Bayes - on the different stocks, Apple, Google, Tesla, Amazon, United Healthcare, Exxon Mobil, J.P. Morgan & Chase, and Johnson & Johnson, the naïve Bayes model and linear regression models worked best. For the testing set, the naïve Bayes model had the highest accuracy along with the linear regression model, followed by the neural network model and then the decision tree model. The training set had similar results except for the fact that the decision tree model was perfect with complete accuracy in its predictions, which makes sense. This means that the decision tree model likely overfitted the training set when used for the testing set.

Keywords: machine learning, testing set, artificial intelligence, stock analysis

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Authors: Maffo Maffo Nicole Liliane, Mounmemi Kpoumie Hubert, Libalah Moses, Ouandji Angele, Zapfack Louis

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Forest degradation causes biodiversity and carbon loss and thus indirectly contributes to climate change. In order to assess the contribution of forests to climate change mitigation, the present study was conducted in the Ngambe-Ndom-Nyanon Communal Forest with the main objective of assessing the floristic diversity and estimating the carbon stock in the different reservoirs of the said forest. Nine plots of 2000 m² each were installed in 3 TOSs of the forest (young secondary forests, gallery forests and fallow lands) with a total area of 18,000 m² or 1,8 ha. All trees with a Diameter at Breast Height (DBH) ≥ 5 cm were inventoried at 1.30 m from the ground in each plot. Species richness, floristic diversity indices, and structural parameters were studied. 1542 trees divided into 162 species, 122 genera and 44 families were identified. The most important families were listed: Myristicaceae (30.22%), Apocynaceae (25.20%), Fabaceae (24.41%), Euphorbiaceae (22.91%) and Phyllanthaceae (20.23%). The richest genera are: Cola, Macaranga, Oncoba (4 species each); the genera Diospyros, Trichilia, Vitex and Zanthoxylum (3 species each). The ecologically important species within the forest studied are: Funtumia africana (26.14%), Coelocaryon preussii (18.46%), Pycnanthus angolensis (15.57%), Tabernaemontana crassa (14.85%) and Olax subscorpioidea (13.04%). Assessment of carbon stocks in the six forest reservoirs studied (living trees and roots, understorey, dead wood, litter and rootlets) shows that they vary according to the land-use types. It is 119.41 t.C.ha-¹ in gallery forest, 115.2 t.C.ha-¹ in young secondary forest and 90.56 t.C.ha-¹ in fallow. The Wilcoxon statistical test shows that the carbon in the young secondary forest is identical to that in the fallow, which is identical to the carbon in the gallery forest. At the individual species level, the largest diameter class [25-35[ sequesters the most carbon (232.94 tC/ha). This work shows that the quantity of carbon sequestered by a biotope is a function of the age of the stand.

Keywords: floristic diversity, carbon stocks, evergreen forests, communal forest, Ngambé-Ndom-Nyanon

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Authors: Rohit Agarwal, Mrityunjay K. Singh, Soma Ghosh, Ramesh Shankar, Biswajit Ghosh, Vinay V. Mahashabde

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Thermo-mechanical treatment (TMT) of rebars is a critical process to impart sufficient strength and ductility to rebar. TMT rebars are produced by the Tempcore process, involves an 'in-line' heat treatment in which hot rolled bar (temperature is around 1080°C) is passed through water boxes where it is quenched under high pressure water jets (temperature is around 25°C). The quenching rate dictates composite structure consisting (four non-homogenously distributed phases of rebar microstructure) pearlite-ferrite, bainite, and tempered martensite (from core to rim). The ferrite and pearlite phases present at core induce ductility to rebar while martensitic rim induces appropriate strength. The TMT process is difficult to model as it brings multitude of complex physics such as heat transfer, highly turbulent fluid flow, multicomponent and multiphase flow present in the control volume. Additionally the presence of film boiling regime (above Leidenfrost point) due to steam formation adds complexity to domain. A coupled heat transfer and fluid flow model based on computational fluid dynamics (CFD) has been developed at product technology division of Tata Steel, India which efficiently predicts temperature profile and percentage martensite rim thickness of rebar during quenching process. The model has been validated with 16 mm rolling of New Bar mill (NBM) plant of Tata Steel Limited, India. Furthermore, based on the scenario analyses, optimal configuration of nozzles was found which helped in subsequent increase in rolling speed.

Keywords: boiling, critical heat flux, nozzles, thermo-mechanical treatment

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Authors: Periklis Brakatsoulas

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Recent empirical research shows a growing interest in investment decision-making under market anomalies that contradict the rational paradigm. Momentum is undoubtedly one of the most robust anomalies in the empirical asset pricing research and remains surprisingly lucrative ever since first documented. Although predominantly phenomena identified across equities, momentum premia are now evident across various asset classes. Yet few many attempts are made so far to provide traders a diversified portfolio of strategies across different assets and markets. Moreover, literature focuses on patterns from past returns rather than mechanisms to signal future price directions prior to momentum runs. The aim of this paper is to develop a diversified portfolio approach to price distortion signals using daily position data on stocks, credit derivatives, and bonds. An algorithm allocates assets periodically, and new investment tactics take over upon price momentum signals and across different ranking groups. We focus on momentum life cycles, trend reversals, and price acceleration signals. The main effort here concentrates on the density, time span and maturity of momentum phenomena to identify consistent patterns over time and measure the predictive power of buy-sell signals generated by these anomalies. To tackle this, we propose a two-stage modelling process. First, we generate forecasts on core macroeconomic drivers. Secondly, satellite models generate market risk forecasts using the core driver projections generated at the first stage as input. Moreover, using a combination of the ARFIMA and FIGARCH models, we examine the dependence of consecutive observations across time and portfolio assets since long memory behavior in volatilities of one market appears to trigger persistent volatility patterns across other markets. We believe that this is the first work that employs evidence of volatility transmissions among derivatives, equities, and bonds to identify momentum life cycle patterns.

Keywords: forecasting, long memory, momentum, returns

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Authors: Julia Langen

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This article describes the challenges of a wireless charging system for a cab waiting lane in a public space and presents a concept for solving them. In this concept, multiple cabs can be charged simultaneously and during stopping and rolling. Particular technical challenges are a coil topology that meets the EMF requirements and an intelligent control concept that allows the individual coil segments to be switched on and off. The charging concept explained here is currently being implemented as a pilot project, so that initial results on the operation can be presented.

Keywords: charge lane, inductive charging solution, smart city, wireless power transfer

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Authors: Qiang Bu

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This paper compares the explanatory power of sentiment level and sentiment shock. The preliminary test results show that sentiment shock plays a more significant role in explaining stocks returns, including the raw return and abnormal return. We also find that sentiment shock beta has a higher statistical significance than sentiment beta. These finding sheds new light on the relationship between investor sentiment and stock returns.

Keywords: sentiment level, sentiment shock, explanatory power, abnormal stock return, beta

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Authors: Gabriel A. Juma, Adiel M. Magana, Githaiga N. Michael, James G. Kairo

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Seagrass meadows are important carbon sinks, thus understanding this role and their conservation provides opportunities for their applications in climate change mitigation and adaptation. This study aimed at understanding seagrass contribution to ecosystem carbon at Gazi Bay; by comparing carbon stocks in seagrass beds of two mangroves fringed creeks of the bay. Specifically, the objectives included assessing the distribution and abundance of seagrass in the fringed creeks, and estimating above and below-ground biomass. Results obtained would be added to the mangrove and open bay carbon in estimating total ecosystem carbon of Gazi bay. The stratified random sampling strategy was applied in this study. Transects were laid perpendicular to the waterline at intervals of 50 meters from the upper region near the mangroves to the deeper end of the creek across seagrass meadows. Along these transects, 0.25m2 square quadrats were laid at 10 m to assess distribution and composition of seagrasses in the creeks. A total of 80 plots were sampled. Above-ground biomass was sampled by harvesting all the seagrass materials within the quadrat while four sediment cores were obtained from each quarter of the quadrat and then sorted into necromass, rhizomes and roots to determine below ground biomass. Samples were cleaned and dried in the oven for 72 hours at 60˚C in the laboratory. Total biomass was determined by multiplying biomass with carbon conversion factor of 0.34. In all the statistical tests, a significant level was set at α = 0.05. Eight species of seagrass were encountered in Western creek (WC) while seven in the Eastern creek (EC). Based on importance value, the dominant species in WC were Cymodocea rotundata and Halodule uninervis while Thalassodendron ciliatum and Enhalus acoroides dominated the eastern creek. The cover of seagrass in EC was 67.97% compared to 56.45% in WC. There was a significance difference in abundance of seagrass species between the two creeks (t = 1.97, D.F = 35, p < 0.05). Similarly, there was significance differences between total seagrass biomass (t= -8.44, D.F. = 53, p < 0.05) and species composition (F(7,79) = 14.6, p < 0.05) in the two creeks. Mean seagrass in the creeks was 7.25 ± 4.2 Mg C ha-1, (range: 4.1 - 12.9 Mg C ha-1). The findings of the current study reveal variations in biomass stocks of the two creeks of Gazi bay that have varying biophysical features. It is established that habitat heterogeneity between the creeks contributes to the variation in seagrass abundance and biomass stocking. This enhances understanding of these ecosystems hence the establishment of carbon offset project in seagrass for livelihood improvement and increased conservation.

Keywords: seagrass, above-ground, below-ground, creeks, Gazi bay

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Authors: Oyindamola Kayode, Sarah George, Roberto Borrageiro, Mike Shirran

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A phenomenon identified by our industrial partner has experienced sag on AA3104 can body stock (CBS) transfer bar during transportation of the slab from the breakdown mill to the finishing mill. Excessive sag results in bottom scuffing of the slab onto the roller table, resulting in surface defects on the final product. It has been found that increasing the strain rate on the breakdown mill final pass results in a slab resistant to sag. The creep response for materials hot deformed at different Zener–Holloman parameter values needs to be evaluated experimentally to gain better understanding of the operating mechanism. This study investigates this identified phenomenon through laboratory simulation of the breakdown mill conditions for various strain rates by utilizing the Gleeble at UCT Centre for Materials Engineering. The experiment will determine the creep response for a range of conditions as well as quantifying the associated material microstructure (sub-grain size, grain structure etc). The experimental matrices were determined based on experimental conditions approximate to industrial hot breakdown rolling and carried out on the Gleeble 3800 at the Centre for Materials Engineering, University of Cape Town. Plane strain compression samples were used for this series of tests at an applied load that allow for better contact and exaggerated creep displacement. A tantalum barrier layer was used for increased conductivity and decreased risk of anvil welding. One set of tests with no in-situ hold time was performed, where the samples were quenched after deformation. The samples were retained for microstructure analysis of the micrographs from the light microscopy (LM), quantitative data and images from scanning electron microscopy (SEM) and energy dispersive X-ray (EDX), sub-grain size and grain structure from electron back scattered diffraction (EBSD).

Keywords: aluminium alloy, can-body stock, hot rolling, creep response, Zener-Hollomon parameter

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Authors: Uday Shanker Goel, Vinay Vasant Mahashabde, Biswajit Ghosh, Arvind Jha, Amit Kumar, Sanjay Kumar Patel, Uma Shanker Pattanaik, Vinit Kumar Shah, Chaitanya Bhanu

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Pinch rolls of the Hot Mills must possess resistance to wear, thermal stability, high thermal conductivity and through hardness. Conventionally, pinch rolls have been procured either as new ones or refurbished ones. Discarded Work Rolls from the Cold Mill were taken and machined inhouse at Tata Steel to be used subsequently as the bottom pinch rolls of the Hot Mill. The hardness of the scrapped work rolls from CRM is close to 55HRC and the typical composition is ( C - 0.8% , Mn - 0.40 % , Si - 0.40% , Cr - 3.5% , Mo - 0.5% & V - 0.1% ).The Innovation was the use of a roll which would otherwise have been otherwise discarded as scrap. Also, the innovation helped in using the scrapped roll which had better wear and heat resistance. In a conventional Pinch roil (Hardness 50 HRC and typical chemistry - C - 10% , Mo+Co+V+Nb ~ 5 % ) , Pick-up is a condition whereby foreign material becomes adhered to the surface of the pinch roll during service. The foreign material is usually adhered metal from the actual product being rolled. The main attributes of the weld overlay rolls are wear resistance and crack resistance. However, the weld overlay roll has a strong tendency for strip pick-up particularly in the area of bead overlap. However, the greatest disadvantage is the depth of weld deposit, which is less than half of the usable shell thickness in most mills. Because of this, the stainless rolls require re-welding on a routine basis. By providing a significantly cheaper in house and more robust alternative of the existing bottom pinch rolls , this innovation results in significant lower worries for the roll shop. Pinch rolls now don't have to be sent outside Jamshedpur for refurbishment or for procuring new ones. Scrapped rolls from adjacent Cold Mill are procured and sent for machining to our Machine Shop inside Tata Steel works in Jamshedpur. This is far more convenient than the older methodology. The idea is also being deployed to the other hot mills of Tata Steel. Multiple campaigns have been tried out at both down coilers of Hot Strip with significantly lower wear.

Keywords: hot rolling flat, cold mill work roll, hot strip pinch roll, strip surface

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Authors: Hein Win Zaw

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Today, the advanced strategies for aircraft production technology potentially need the higher performance, and on the other hand, those strategies and engineering technologies should meet considerable process and reduce of production costs. Thus, professionals who are working in these scopes are attempting to develop new materials to improve the manufacturability of designs, the creation of new technological processes, tools and equipment. This paper discusses about the research on structural changes in plastic deformation during rotary expansion and crimp of pipes. Pipelines are experiencing high pressure and pulsating load. That is why, it is high demands on the mechanical properties of the material, the quality of the external and internal surfaces, preserve cross-sectional shape and the minimum thickness of the pipe wall are taking into counts. In the manufacture of pipes, various operations: distribution, crimping, bending, etc. are used. The most widely used at various semi-products, connecting elements found the process of rotary expansion and crimp of pipes. In connection with the use of high strength materials and less-plastic, these conventional techniques do not allow obtaining high-quality parts, and also have a low economic efficiency. Therefore, research in this field is relevantly considerable to develop in advanced. Rotary expansion and crimp of pipes are accompanied by inhomogeneous plastic deformation, which leads to structural changes in the material, causes its deformation hardening, by this result changes the operational reliability of the product. Parts of the tube obtained by rotary expansion and crimp differ by multiplicity of form and characterized by various diameter in the various section, which formed in the result of inhomogeneous plastic deformation. The reliability of the coupling, obtained by rotary expansion and crimp, is determined by the structural arrangement of material formed by the formation process; there is maximum value of deformation, the excess of which is unacceptable. The structural state of material in this condition is determined by technological mode of formation in the rotary expansion and crimp. Considering the above, objective of the present study is to investigate the structural changes at different levels of plastic deformation, accompanying rotary expansion and crimp, and the analysis of stress concentrators of different scale levels, responsible for the formation of the primary zone of destruction.

Keywords: plastic deformation, rolling of tubes, crimping of tubes, structural changes

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Authors: Gopal Chandra Saha, Sumanta Daw

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Warm-up is an essential component for optimizing performance in various sports before a physical fitness training session. This study investigated the immediate comparative effect of Self-Myofascial Release through vibration rolling (VR), non-vibration rolling (NVR), and static stretching as a part of a warm-up treatment on the functional fitness of young adults. Functional fitness is a classification of training that prepares the body for real-life movements and activities. For the present study 20male physical education students were selected as subjects. The age of the subjects was ranged from 20-25 years. The functional fitness variables undertaken in the present study were flexibility, muscle strength, agility, static and dynamic balance of the lower extremity. Each of the three warm-up protocol was administered on consecutive days, i.e. 24 hr time gap and all tests were administered in the morning. The mean and SD were used as descriptive statistics. The significance of statistical differences among the groups was measured by applying ‘F’-test, and to find out the exact location of difference, Post Hoc Test (Least Significant Difference) was applied. It was found from the study that only flexibility showed significant difference among three types of warm-up exercise. The observed result depicted that VR has more impact on myofascial release in flexibility in comparison with NVR and stretching as a part of warm-up exercise as ‘p’ value was less than 0.05. In the present study, within the three means of warm-up exercises, vibration roller showed better mean difference in terms of NVR, and static stretching exercise on functional fitness of young physical education practitioners, although the results were found insignificant in case of muscle strength, agility, static and dynamic balance of the lower extremity. These findings suggest that sports professionals and coaches may take VR into account for designing more efficient and effective pre-performance routine for long term to improve exercise performances. VR has high potential to interpret into an on-field practical application means.

Keywords: self-myofascial release, functional fitness, foam roller, physical education

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Authors: Mario Zgela

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Application of Benford’s Law is very rarely covered in the field of stock market analysis, especially in percentage change of stock market indices. Deutscher Aktien IndeX (DAX) is very important stock market index of Frankfurt Deutsche Börse which serves as underlying basis for large number of financial instruments. It is calculated for selected 30 German blue chips stocks. In this paper, Benford's Law first digit test is applied on 10 year DAX daily percentage changes in order to check compliance. Deviations of 10 year DAX percentage changes set as well as distortions of certain subsets from Benford's Law distribution are detected. It is possible that deviations are the outcome of speculations; and psychological influence should not be eliminated.

Keywords: Benford's Law, DAX, index percentage changes, stock market

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Authors: J. F. Gonzalez-Rojo, Federico Lluesma-Rodriguez, Temoatzin Gonzalez

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Hyperloop, a new mode of transport, is gaining significance. It consists of the use of a ground-based transport system which includes a levitation system, that avoids rolling friction forces, and which has been covered with a tube, controlling the inner atmosphere lowering the aerodynamic drag forces. Thus, hyperloop is proposed as a solution to the current limitation on ground transportation. Rolling and aerodynamic problems, that limit large speeds for traditional high-speed rail or even maglev systems, are overcome using a hyperloop solution. Zeleros is one of the companies developing technology for hyperloop application worldwide. It is working on a concept that reduces the infrastructure cost and minimizes the power consumption as well as the losses associated with magnetic drag forces. For this purpose, Zeleros proposes a Hybrid ElectroMagnetic Suspension (EMS) for its prototype. In the present manuscript an active and optimal electromagnetic suspension levitation method based on nearly zero power consumption individual modules is presented. This system consists of several hybrid permanent magnet-coil levitation units that can be arranged along the vehicle. The proposed unit manages to redirect the magnetic field along a defined direction forming a magnetic circuit and minimizing the loses due to field dispersion. This is achieved using an electrical steel core. Each module can stabilize the gap distance using the coil current and either linear or non-linear control methods. The ratio between weight and levitation force for each unit is 1/10. In addition, the quotient between the lifted weight and power consumption at the target gap distance is 1/3 [kg/W]. One degree of freedom (DoF) (along the gap direction) is controlled by a single unit. However, when several units are present, a 5 DoF control (2 translational and 3 rotational) can be achieved, leading to the full attitude control of the vehicle. The proposed system has been successfully tested reaching TRL-4 in a laboratory test bench and is currently in TRL-5 state development if the module association in order to control 5 DoF is considered.

Keywords: active optimal control, electromagnetic levitation, HEMS, high-speed transport, hyperloop

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Authors: E. Kaygan, A. Gatto

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An investigation of adaptable winglets for morphing aircraft control and performance is described in this paper. The concepts investigated consist of various winglet configurations fundamentally centred on a baseline swept wing. The impetus for the work was to identify and optimize winglets to enhance controllability and the aerodynamic efficiency of a small unmanned aerial vehicle. All computations were performed with Athena Vortex Lattice modelling with varying degrees of twist, swept, and dihedral angle considered. The results from this work indicate that if adaptable winglets were employed on small scale UAV’s improvements in both aircraft control and performance could be achieved.

Keywords: aircraft, rolling, wing, winglet

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Authors: Negar Riazifar, Nigel G. Stocks

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This paper proposes strategies in level crossing (LC) sampling and reconstruction that provide alias-free high-fidelity signal reconstruction for speech signals without exponentially increasing sample number with increasing bit-depth. We introduce methods in LC sampling that reduce the sampling rate close to the Nyquist frequency even for large bit-depth. The results indicate that larger variation in the sampling intervals leads to an alias-free sampling scheme; this is achieved by either reducing the bit-depth or adding jitter to the system for high bit-depths. In conjunction with windowing, the signal is reconstructed from the LC samples using an efficient Toeplitz reconstruction algorithm.

Keywords: alias-free, level crossing sampling, spectrum, trigonometric polynomial

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Authors: Ndana Mohammed, Abdullahi Musa Sabo

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The oils used in this work were extracted from seeds of Ricinuscommunis, Heaveabrasiliensis, Gossypiumhirsutum, Azadirachtaindica, Glycin max and Jatrophacurcasby solvent extraction method using n-hexane, and gave the yield of 48.00±0.00%, 44.30±0.52%, 45.50±0.64%, 47.60±0.51%, 41.50±0.32% and 46.50±0.71% respectively. However these feed stocks are highly challenging to trans-esterification reaction because they were found to contain high amount of free fatty acids (FFA) (6.37±0.18, 17.20±0.00, 6.14±0.05, 8.60±0.14, 5.35±0.07, 4.24±0.02mgKOH/g) in order of the above. As a result, two-stage trans-esterification reactions process was used to produce biodiesel; Acid esterification was used to reduce high FFA to 1% or less, and the second stage involve the alkaline trans-esterification/optimization of process condition to obtain high yield quality biodiesel. The salient features of this study include; characterization of oils using AOAC, AOCS standard methods to reveal some properties that may determine the viability of sample seeds as potential feed stocks for biodiesel production, such as acid value, saponification value, Peroxide value, Iodine value, Specific gravity, Kinematic viscosity, and free fatty acid profile. The optimization of process parameters in biodiesel production was investigated. Different concentrations of alkaline catalyst (KOH) (0.25, 0.5, 0.75, 1.0 and 1.50w/v, methanol/oil molar ratio (3:1, 6:1, 9:1, 12:1, and 15:1), reaction temperature (500 C, 550 C, 600 C, 650 C, 700 C), and the rate of stirring (150 rpm,225 rpm,300 rpm and 375 rpm) were used for the determination of optimal condition at which maximum yield of biodiesel would be obtained. However, while optimizing one parameter other parameters were kept fixed. The result shows the optimal biodiesel yield at a catalyst concentration of 1%, methanol/oil molar ratio of 6:1, except oil from ricinuscommunis which was obtained at 9:1, the reaction temperature of 650 C was observed for all samples, similarly the stirring rate of 300 rpm was also observed for all samples except oil from ricinuscommunis which was observed at 375 rpm. The properties of biodiesel fuel were evaluated and the result obtained conformed favorably to ASTM and EN standard specifications for fossil diesel and biodiesel. Therefore biodiesel fuel produced can be used as substitute for fossil diesel. The work also reports the result of the study on the evaluation of the effect of the biodiesel storage on its physicochemical properties to ascertain the level of deterioration with time. The values obtained for the entire samples are completely out of standard specification for biodiesel before the end of the twelve months test period, and are clearly degraded. This suggests the biodiesels from oils of Ricinuscommunis, Heaveabrasiliensis, Gossypiumhirsutum, Azadirachtaindica, Glycin max and Jatrophacurcascannot be stored beyond twelve months.

Keywords: biodiesel, characterization, esterification, optimization, transesterification

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Authors: Byomakesh Debata, Jitendra Mahakud

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The recent financial crisis has been characterized by massive monetary policy interventions by the Central bank, and it has amplified the importance of liquidity for the stability of the stock market. This paper empirically elucidates the actual impact of monetary policy interventions on stock market liquidity covering all National Stock Exchange (NSE) Stocks, which have been traded continuously from 2002 to 2015. The present study employs a multivariate VAR model along with VAR-granger causality test, impulse response functions, block exogeneity test, and variance decomposition to analyze the direction as well as the magnitude of the relationship between monetary policy and market liquidity. Our analysis posits a unidirectional relationship between monetary policy (call money rate, base money growth rate) and aggregate market liquidity (traded value, turnover ratio, Amihud illiquidity ratio, turnover price impact, high-low spread). The impulse response function analysis clearly depicts the influence of monetary policy on stock liquidity for every unit innovation in monetary policy variables. Our results suggest that an expansionary monetary policy increases aggregate stock market liquidity and the reverse is documented during the tightening of monetary policy. To ascertain whether our findings are consistent across all periods, we divided the period of study as pre-crisis (2002 to 2007) and post-crisis period (2007-2015) and ran the same set of models. Interestingly, all liquidity variables are highly significant in the post-crisis period. However, the pre-crisis period has witnessed a moderate predictability of monetary policy. To check the robustness of our results we ran the same set of VAR models with different monetary policy variables and found the similar results. Unlike previous studies, we found most of the liquidity variables are significant throughout the sample period. This reveals the predictability of monetary policy on aggregate market liquidity. This study contributes to the existing body of literature by documenting a strong predictability of monetary policy on stock liquidity in an emerging economy with an order driven market making system like India. Most of the previous studies have been carried out in developing economies with quote driven or hybrid market making system and their results are ambiguous across different periods. From an eclectic sense, this study may be considered as a baseline study to further find out the macroeconomic determinants of liquidity of stocks at individual as well as aggregate level.

Keywords: market liquidity, monetary policy, order driven market, VAR, vector autoregressive model

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Authors: Amit R. Bhende, G. K. Awari

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Remaining useful life (RUL) prediction is one of key technologies to realize prognostics and health management that is being widely applied in many industrial systems to ensure high system availability over their life cycles. The present work proposes a data-driven method of RUL prediction based on multiple health state assessment for rolling element bearings. Bearing degradation data at three different conditions from run to failure is used. A RUL prediction model is separately built in each condition. Feed forward back propagation neural network models are developed for prediction modeling.

Keywords: bearing degradation data, remaining useful life (RUL), back propagation, prognosis

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Authors: Della Saddam Housseyn

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Gold, the quintessential noble metal, is one of the most popular metals today, given its ever-increasing cost in the international market. The Amesmessa gold deposit is one of the gold-producing deposits. The first step in our job is to analyze the ore (considered rich ore). Mineralogical and chemical analysis has shown that the general constitution of the ore is quartz in addition to other phases such as Al2O3, Fe2O3, CaO, dolomite. The second step consists of all the leaching tests carried out in rolling bottles. These tests were carried out on 14 samples to determine the maximum recovery rate and the optimum consumption of reagent (NaCN and CaO). Tests carried out on a pulp density at 50% solid, 500 ppm cyanide concentration and particle size less than 0.6 mm at alkaline pH gave a recovery rate of 94.37%.

Keywords: cyanide, DRX, FX, gold, leaching, rate of recovery, SAA

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Authors: Abul Shamsuddin

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

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

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Authors: Carl-Magnus Everitt, Bo Alfredsson

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Contact mechanics and tribology have been combined with fundamental fatigue and fracture mechanics to form the asperity mechanism which supplies an explanation for the surface-initiated rolling contact fatigue damage, called pitting or spalling. The cracks causing the pits initiates at one surface point and thereafter they slowly grow into the material before chipping of a material piece to form the pit. In the current study, the lubrication aspects on fatigue initiation are simulated by passing a single asperity through a thermal elastohydrodynamic lubricated, TEHL, contact. The physics of the lubricant was described with Reynolds equation and the lubricants pressure-viscosity relation was modeled by Roelands equation, formulated to include temperature dependence. A pressure dependent shear limit was incorporated. To capture the full phenomena of the sliding contact the temperature field was resolved through the incorporation of the energy flow. The heat was mainly generated due to shearing of the lubricant and from dry friction where metal contact occurred. The heat was then transported, and conducted, away by the solids and the lubricant. The fatigue damage caused by the asperities was evaluated through Findley’s fatigue criterion. The results show that asperities, in the size of surface roughness found in applications, may cause surface initiated fatigue damage and crack initiation. The simulations also show that the asperities broke through the lubricant in the inlet, causing metal to metal contact with high friction. When the asperities thereafter moved through the contact, the sliding provided the asperities with lubricant releasing the metal contact. The release of metal contact was possible due to the high viscosity the lubricant obtained from the high pressure. The metal contact in the inlet caused higher friction which increased the risk of fatigue damage. Since the metal contact occurred in the inlet it increased the fatigue risk more for asperities subjected to negative slip than positive slip. Therefore the fatigue evaluations showed that the asperities subjected to negative slip yielded higher fatigue stresses than the asperities subjected to positive slip of equal magnitude. This is one explanation for why pitting is more common in the dedendum than the addendum on pinion gear teeth. The simulations produced further validation for the asperity mechanism by showing that asperities cause surface initiated fatigue and crack initiation.

Keywords: fatigue, rolling, sliding, thermal elastohydrodynamic

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Authors: Jung-Ho Moon, Tae Kwon Ha

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In the present study, the effect of Si, Al, Ti, Zr, and Nb addition on the microstructure and hot workability of cast M42 tool steels, basically consisting of 1.0C, 0.2Mn, 3.8Cr, 1.5W, 8.5Co, 9.2Mo, and 1.0V in weight percent has been investigated. Tool steels containing Si of 0.25 and 0.5 wt.%, Al of 0.06 and 0.12 wt.%, Ti of 0.3 wt.%, Zr of 0.3 wt.%, and Nb of 0.3 wt.% were cast into ingots of 140 mm´ 140 mm´ 330 mm by vacuum induction melting. After solution treatment at 1150°C for 1.5 hrs. followed by furnace cooling, hot rolling at 1180 °C was conducted on the ingots. Addition of titanium, zirconium and niobium was found to retard the decomposition of the eutectic carbides and result in the deterioration of hot workability of the tool steels, while addition of aluminium and silicon showed relatively well decomposed carbide structure and resulted in sound hot rolled plates.

Keywords: high speed steels, alloying elements, eutectic carbides, microstructure, hot workability

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Authors: Jeonho Moon, Tae Kwon Ha

Abstract:

In the present study, the effect of Si, Al, Ti, Zr, and Nb addition on the microstructure and hot workability of cast M42 tool steels, basically consisting of 1.0 C, 0.2 Mn, 3.8 Cr, 1.5 W, 8.5 Co, 9.2 Mo, and 1.0 V in weight percent has been investigated. Tool steels containing Si of 0.25 and 0.5 wt.%, Al of 0.06 and 0.12 wt.%, Ti of 0.3 wt.%, Zr of 0.3 wt.%, and Nb of 0.3wt.% were cast into ingots of 140 mm x 140 mm x 330 mm by vacuum induction melting. After solution treatment at 1150 °C for 1.5 hr followed by furnace cooling, hot rolling at 1180 °C was conducted on the ingots. Addition of titanium, zirconium and niobium was found to retard the decomposition of the eutectic carbides and result in the deterioration of hot workability of the tool steels, while addition of aluminum and silicon showed relatively well decomposed carbide structure and resulted in sound hot rolled plates.

Keywords: duplex stainless steel, alloying elements, eutectic carbides, microstructure, hot workability

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Authors: Eugen Dimant, Tim Krieger, Margarete Redlin

Abstract:

This paper analyzes the impact of migration on destination-country corruption levels. Capitalizing on a comprehensive dataset consisting of annual immigration stocks of OECD coun-tries from 207 countries of origin for the period 1984-2008, we explore different channels through which corruption might migrate. We employ different estimation methods using fixed effects and Tobit regressions in order to validate our findings. What is more, we also address the issue of endogeneity by using the Difference-Generalized Method of Moments (GMM) estimator. Independent of the econometric methodology we consistently find that while general migration has an insignificant effect on the destination country’s corruption level, immigration from corruption-ridden origin countries boosts corruption in the destination country. Our findings provide a more profound understanding of the economic implications associated with migration flows.

Keywords: corruption, migration, impact of migration, destination-country corruption

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Authors: Hooshag Asadi Haroni, Maryam Veiskarami, Yongjun Lu

Abstract:

The Dalli gold-rich porphyry deposit (17 Mt @ 0.5% Cu and 0.65 g/t Au) is located in the Urumieh-Dokhtar Magmatic Arc (UDMA), a small segment of the Tethyan metallogenic belt, hosting several porphyry Cu (Mo-Au) systems in Iran. This research characterizes the Dalli deposit to define exploration criteria in advanced exploration such as the drilling of possible blind porphyry centers. Geological map, trench/drill hole geochemical and ground magnetic data, and age dating and isotope trace element analyses, carried out at the John De Laeter Research Center of Curtin University, were used to characterize the Delli deposit. Mineralization at Dalli is hosted by NE-trending quartz-diorite porphyry stocks (~ 200m in diameter) intruded by a wall-rock andesite porphyry. Disseminated and stockwork Cu-Au mineralization is related to potassic alteration, comprising magnetite, late K-feldspar and biotite, and quartz-sericite-specularite overprint, surrounded by extensive barren argillic and propylitic alterations. In the peripheries of the porphyry centers, there are N-trending vuggy quartz veins, hosting epithermal Au-Ag-As-Sb mineralization. Geochemical analyses of drill core samples showed that the core of the porphyry stocks is low-grade, whereas the high-grade disseminated and stockwork mineralization (~ 1% Cu and ~ 1.2 g/t Au) occurred at the contact of the porphyry stocks and andesite porphyry. Geochemical studies of the drill hole and trench samples showed a strong correlation between Cu and Au and both show a second-order correlation with Fe and As. Magnetic survey revealed two significant magnetic anomalies, associated with intensive potassic alteration, in the reduced-to-the-pole magnetic map of the area. A relatively weaker magnetic anomaly, showing no surface porphyry expressions, is located on a lithocap, consisting of advanced argillic alteration, vuggy quartz veins, and surface expressions of epithermal geochemical signatures. The association of the lithocap and the weak magnetic anomaly could be indicative of a hidden mineralized porphyry center. Litho-geochemical analyses of the least altered Dalli intrusions and volcanic rocks indicated high Sr/Y (49-61) and Eu/Eu* (0.89-0.92), features typical of Cu porphyries. The U-Pb dating of zircons of the mineralized quartz diorite and andesite porphyry, carried out by laser ablation inductively coupled plasma mass spectrometry, yielded magmatic crystallization ages of 15.4-16.0 Ma (Middle Miocene). The zircon trace element concentrations of Dalli are characterized by high Eu/Eu* (0.3-0.8), (Ce/Nd)/Y (0.01-0.3), and 10000*(Eu/Eu*)/Y (2-15) ratios, similar to fertile porphyry suites such as the giant Sar-Cheshmeh and Qulong porphyry Cu deposits along the Tethyan belt. This suggests that the Middle Miocene Dalli intrusions are fertile and require extensive deep drillings to define their potential. Chondrite-normalized rare earth element (REE) patterns show no significant Eu anomalies, and are characterized by light-REE enrichments (La/Sm)n = 2.57–6.40). In normalized multi-element diagrams, analyzed rocks are characterized by enrichments in large ion lithophile elements (LILE) and depletions in high field strength elements (HFSE), and display typical features of subduction-related calc-alkaline magmas. The characteristics of the Dalli deposit provided several recognition criteria for detailed exploration of Cu-Au porphyry deposits and highlighted the importance of the UDMA as a potentially significant, economically important, but relatively underexplored porphyry province.

Keywords: porphyry, gold, geochronology, magnetic, exploration

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Authors: Ji Chan Kim, Seok Hong Min, Tae Kwon Ha

Abstract:

The effect of Yttrium addition on the microstructure and mechanical properties of Sn-Zn eutectic alloy, which has been attracting intensive focus as a Pb-free solder material, was investigated in this study. Phase equilibrium has been calculated by using FactSage® to evaluate the composition and fraction of equilibrium intermetallic compounds and construct a phase diagram. In the case of Sn-8.8 Zn eutectic alloy, the as-cast microstructure was typical lamellar. With addition of 0.25 wt. %Y, a large amount of pro-eutectic phases have been observed and various YZnx intermetallic compounds were expected to successively form during cooling. Hardness of Sn-8.8 Zn alloy was not affected by Y-addition and both alloys could be rolled by 90% at room temperature.

Keywords: lead-free solder, zn-al-sn alloy, phase equilibrium, rolling, microstructure, hardness

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Authors: Mohammad Hosein Panahi, Naser Yazdani

Abstract:

we present a technical trading strategy that leverages the FinBERT language model and financial news analysis with a focus on news related to a subset of Nasdaq 100 stocks. Our approach surpasses the baseline Range Break-out strategy in the Bitcoin market, yielding a remarkable 24.8% increase in the win ratio for all Friday trades and an impressive 48.9% surge in short trades specifically on Fridays. Moreover, we conduct rigorous hypothesis testing to establish the statistical significance of these improvements. Our findings underscore considerable potential of our NLP-driven approach in enhancing trading strategies and achieving greater profitability within financial markets.

Keywords: quantitative finance, technical analysis, bitcoin market, NLP, language models, FinBERT, technical trading

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Authors: Shashwat Gangwal

Abstract:

This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: bitcoin, financial instruments, portfolio management, risk adjusted return

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Authors: A. Mekroud, A. Khemis, M. S. Mecibah

Abstract:

The tribological behavior of a pin of paramagnetic material (aluminum), rolling on a rotating disk made of ferromagnetic material (steel XC48) in the presence of an externally applied alternating magnetic field, with the passage of electric current were studied. All tests were performed using a conventional tribometer pin- disk. Structural characterization of the surfaces in contact, oxides and wear debris, by X-ray diffraction (θ-2θ angle), showed the significant effect of magnetic field on the activation of the contact surface of the pin in no ferromagnetic material. The absence of the magnetic field causes a change of wear mode.

Keywords: structural characterization of the surfaces, oxides and wear debris, X-ray diffraction

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Authors: Shiming Li, Qingwang Liu, Honggan Wu, Jianbing Zhang

Abstract:

Plantation forests are useful for timber production, recreation, environmental protection and social development. Stands height is an important parameter for the estimation of forest volume and carbon stocks. Although lidar is suitable technology for the vertical parameters extraction of forests, but high costs make it not suitable for operational inventory. With the development of computer vision and photogrammetry, aerial photos from unmanned aerial system can be used as an alternative solution for height mapping. Structure-from-motion (SfM) photogrammetry technique can be used to extract DSM and DEM information. Canopy height model (CHM) can be achieved by subtraction DEM from DSM. Our result shows that overlapping aerial photos is a potential solution for plantation forests height mapping.

Keywords: forest height mapping, plantation forests, structure-from-motion photogrammetry, UAS

Procedia PDF Downloads 242