Search results for: Financial reference database
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2082

Search results for: Financial reference database

1722 Blockchain for Decentralized Finance: Impact, Challenges and Remediation

Authors: Rishabh Garg

Abstract:

Blockchain technology can allow remote, untrusted parties in the banking and financial sector to reach consensus on the state of databases without the involvement of gatekeepers. Like a bookkeeper, it can manage all financial transactions including payments, settlements, fundraising, securities management, loans, credits and trade finance. It can outperform existing systems in terms of identity verification, asset transfers, peer-to-peer transfers, hedge funds, security and auditability. Blockchain-based decentralized finance (DeFi) is a new financial protocol. Being open and programmable, it enables various DeFi use-cases, including asset management, tokenization, tokenized derivatives, decentralized autonomous organizations, data analysis and valuation, payments, lending and borrowing, insurance, margin trading, prediction market, gambling and yield-farming, etc. In addition, it can ease financial transactions, cash-flow, use of programmable currency, no-loss lotteries, etc. This paper aims to assess the potential of decentralized finance by leveraging the blockchain-enabled Ethereum platform as an alternative to traditional finance. The study also aims to find out the impact of decentralized finance on prediction markets, quadratic funding and crowd-funding, together with the potential challenges and solutions associated with its implementation.

Keywords: Advance trading, crowd funding, exchange tokens, fund aggregation, margin trading, quadratic funding, smart contracts, streaming money, token derivatives.

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1721 Big Brain: A Single Database System for a Federated Data Warehouse Architecture

Authors: X. Gumara Rigol, I. Martínez de Apellaniz Anzuola, A. Garcia Serrano, A. Franzi Cros, O. Vidal Calbet, A. Al Maruf

Abstract:

Traditional federated architectures for data warehousing work well when corporations have existing regional data warehouses and there is a need to aggregate data at a global level. Schibsted Media Group has been maturing from a decentralised organisation into a more globalised one and needed to build both some of the regional data warehouses for some brands at the same time as the global one. In this paper, we present the architectural alternatives studied and why a custom federated approach was the notable recommendation to go further with the implementation. Although the data warehouses are logically federated, the implementation uses a single database system which presented many advantages like: cost reduction and improved data access to global users allowing consumers of the data to have a common data model for detailed analysis across different geographies and a flexible layer for local specific needs in the same place.

Keywords: Data integration, data warehousing, federated architecture, online analytical processing.

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1720 Behavior of Czech Consumers during Crisis

Authors: M. Stoklasa, H. Starzyczna, P. Sykorova

Abstract:

This paper presents partial results of primary research on consumer purchasing behavior in times of crisis. It starts with brief theoretical debate on purchasing behavior and short secondary research related to the issues, which is used for the comparison of results. For purpose of collecting data, questionnaire survey was given to 355 respondents in Moravian-Silesian region. Hypotheses deal with the relationship of the financial situation of the respondents and their purchasing behavior. The research analysis disclosed that consumers change their behavior during crisis and MS region has some specifics compared to other regions.

Keywords: Crisis, financial situation, consumer behavior, postponement of purchases, consumer credit.

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1719 Compensation Method Eliminating Voltage Distortions in PWM Inverter

Authors: H. Sediki, S. Djennoune

Abstract:

The switching lag-time and the voltage drop across the power devices cause serious waveform distortions and fundamental voltage drop in pulse width-modulated inverter output. These phenomenons are conspicuous when both the output frequency and voltage are low. To estimate the output voltage from the PWM reference signal it is essential to take account of these imperfections and to correct them. In this paper, on-line compensation method is presented. It needs three simple blocs to add at the ideal reference voltages. This method does not require any additional hardware circuit and off- line experimental measurement. The paper includes experimental results to demonstrate the validity of the proposed method. It is applied, finally, in case of indirect vector controlled induction machine and implemented using dSpace card.

Keywords: Dead time, field-oriented control, Induction motor, PWM inverter, voltage drop.

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1718 Applications of Stable Distributions in Time Series Analysis, Computer Sciences and Financial Markets

Authors: Mohammad Ali Baradaran Ghahfarokhi, Parvin Baradaran Ghahfarokhi

Abstract:

In this paper, first we introduce the stable distribution, stable process and theirs characteristics. The a -stable distribution family has received great interest in the last decade due to its success in modeling data, which are too impulsive to be accommodated by the Gaussian distribution. In the second part, we propose major applications of alpha stable distribution in telecommunication, computer science such as network delays and signal processing and financial markets. At the end, we focus on using stable distribution to estimate measure of risk in stock markets and show simulated data with statistical softwares.

Keywords: stable distribution, SaS, infinite variance, heavy tail networks, VaR.

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1717 Computer Aided Classification of Architectural Distortion in Mammograms Using Texture Features

Authors: Birmohan Singh, V. K. Jain

Abstract:

Computer aided diagnosis systems provide vital opinion to radiologists in the detection of early signs of breast cancer from mammogram images. Architectural distortions, masses and microcalcifications are the major abnormalities. In this paper, a computer aided diagnosis system has been proposed for distinguishing abnormal mammograms with architectural distortion from normal mammogram. Four types of texture features GLCM texture, GLRLM texture, fractal texture and spectral texture features for the regions of suspicion are extracted. Support vector machine has been used as classifier in this study. The proposed system yielded an overall sensitivity of 96.47% and an accuracy of 96% for mammogram images collected from digital database for screening mammography database.

Keywords: Architecture Distortion, GLCM Texture features, GLRLM Texture Features, Mammograms, Support Vector Machine.

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1716 Forecasting the Istanbul Stock Exchange National 100 Index Using an Artificial Neural Network

Authors: Birol Yildiz, Abdullah Yalama, Metin Coskun

Abstract:

Many studies have shown that Artificial Neural Networks (ANN) have been widely used for forecasting financial markets, because of many financial and economic variables are nonlinear, and an ANN can model flexible linear or non-linear relationship among variables. The purpose of the study was to employ an ANN models to predict the direction of the Istanbul Stock Exchange National 100 Indices (ISE National-100). As a result of this study, the model forecast the direction of the ISE National-100 to an accuracy of 74, 51%.

Keywords: Artificial Neural Networks, Istanbul StockExchange, Non-linear Modeling.

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1715 Global Security Using Human Face Understanding under Vision Ubiquitous Architecture System

Authors: A. Jalal, S. Kim

Abstract:

Different methods containing biometric algorithms are presented for the representation of eigenfaces detection including face recognition, are identification and verification. Our theme of this research is to manage the critical processing stages (accuracy, speed, security and monitoring) of face activities with the flexibility of searching and edit the secure authorized database. In this paper we implement different techniques such as eigenfaces vector reduction by using texture and shape vector phenomenon for complexity removal, while density matching score with Face Boundary Fixation (FBF) extracted the most likelihood characteristics in this media processing contents. We examine the development and performance efficiency of the database by applying our creative algorithms in both recognition and detection phenomenon. Our results show the performance accuracy and security gain with better achievement than a number of previous approaches in all the above processes in an encouraging mode.

Keywords: Ubiquitous architecture, verification, Identification, recognition

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1714 Variable vs. Fixed Window Width Code Correlation Reference Waveform Receivers for Multipath Mitigation in Global Navigation Satellite Systems with Binary Offset Carrier and Multiplexed Binary Offset Carrier Signals

Authors: Fahad Alhussein, Huaping Liu

Abstract:

This paper compares the multipath mitigation performance of code correlation reference waveform receivers with variable and fixed window width, for binary offset carrier and multiplexed binary offset carrier signals typically used in global navigation satellite systems. In the variable window width method, such width is iteratively reduced until the distortion on the discriminator with multipath is eliminated. This distortion is measured as the Euclidean distance between the actual discriminator (obtained with the incoming signal), and the local discriminator (generated with a local copy of the signal). The variable window width have shown better performance compared to the fixed window width. In particular, the former yields zero error for all delays for the BOC and MBOC signals considered, while the latter gives rather large nonzero errors for small delays in all cases. Due to its computational simplicity, the variable window width method is perfectly suitable for implementation in low-cost receivers.

Keywords: Correlation reference waveform receivers, binary offset carrier, multiplexed binary offset carrier, global navigation satellite systems.

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1713 The Impact of Financial Risks on Profitability of Malaysian Commercial Banks: 1996-2005

Authors: Fauziah Hanim Tafri, Zarinah Hamid, Ahamed Kameel Mydin Meera, Mohd Azmi Omar

Abstract:

This paper examines the relationship between financial risks and profitability of the conventional and Islamic banks in Malaysia for the period between 1996 and 2005. The measures of profitability that have been used in the study are the return on equity (ROE) and return on assets (ROA) while the financial risks are credit risk, interest rate risk and liquidity risks. This study employs panel data regression analysis of Generalised Least Squares of fixed effects and random effects models. It was found that credit risk has a significant impact on ROA and ROE for the conventional as well as the Islamic banks. The relationship between interest rate risk and ROE were found to be weakly significant for the conventional banks and insignificant for the Islamic banks. The effect of interest rate risk on ROA is significant for the conventional banks. Liquidity risk was found to have an insignificant impact on both profitability measures.

Keywords: Credit risk, interest rate risk, liquidity risk, market risk, profitability.

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1712 Study of Features for Hand-printed Recognition

Authors: Satish Kumar

Abstract:

The feature extraction method(s) used to recognize hand-printed characters play an important role in ICR applications. In order to achieve high recognition rate for a recognition system, the choice of a feature that suits for the given script is certainly an important task. Even if a new feature required to be designed for a given script, it is essential to know the recognition ability of the existing features for that script. Devanagari script is being used in various Indian languages besides Hindi the mother tongue of majority of Indians. This research examines a variety of feature extraction approaches, which have been used in various ICR/OCR applications, in context to Devanagari hand-printed script. The study is conducted theoretically and experimentally on more that 10 feature extraction methods. The various feature extraction methods have been evaluated on Devanagari hand-printed database comprising more than 25000 characters belonging to 43 alphabets. The recognition ability of the features have been evaluated using three classifiers i.e. k-NN, MLP and SVM.

Keywords: Features, Hand-printed, Devanagari, Classifier, Database

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1711 Development of the Measurement Apparatus for the Effective Thermal Conductivity of Core Material

Authors: Jongmin Kim, Tae-Ho Song

Abstract:

A measurement apparatus is designed and fabricated to measure the effective thermal conductivity (keff) of a VIP (vacuum insulation panel) core specimen under various vacuum states and external loads. The apparatus consists of part for measuring keff, and parts for controlling external load and vacuum condition. Uncertainty of the apparatus is validated by measuring the standard reference material and comparing with commercial devices with VIP samples. Assessed uncertainty is maximum 2.5 % in case of the standard reference material, 10 % in case of VIP samples. Using the apparatus, keff of glass paper under various vacuum levels is examined.

Keywords: Effective thermal conductivity, guarded hot plate method, vacuum insulation panel

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1710 An Extensible Software Infrastructure for Computer Aided Custom Monitoring of Patients in Smart Homes

Authors: Ritwik Dutta, Marilyn Wolf

Abstract:

This paper describes the tradeoffs and the design from scratch of a self-contained, easy-to-use health dashboard software system that provides customizable data tracking for patients in smart homes. The system is made up of different software modules and comprises a front-end and a back-end component. Built with HTML, CSS, and JavaScript, the front-end allows adding users, logging into the system, selecting metrics, and specifying health goals. The backend consists of a NoSQL Mongo database, a Python script, and a SimpleHTTPServer written in Python. The database stores user profiles and health data in JSON format. The Python script makes use of the PyMongo driver library to query the database and displays formatted data as a daily snapshot of user health metrics against target goals. Any number of standard and custom metrics can be added to the system, and corresponding health data can be fed automatically, via sensor APIs or manually, as text or picture data files. A real-time METAR request API permits correlating weather data with patient health, and an advanced query system is implemented to allow trend analysis of selected health metrics over custom time intervals. Available on the GitHub repository system, the project is free to use for academic purposes of learning and experimenting, or practical purposes by building on it.

Keywords: Flask, Java, JavaScript, health monitoring, long term care, Mongo, Python, smart home, software engineering, webserver.

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1709 Uplink Throughput Prediction in Cellular Mobile Networks

Authors: Engin Eyceyurt, Josko Zec

Abstract:

The current and future cellular mobile communication networks generate enormous amounts of data. Networks have become extremely complex with extensive space of parameters, features and counters. These networks are unmanageable with legacy methods and an enhanced design and optimization approach is necessary that is increasingly reliant on machine learning. This paper proposes that machine learning as a viable approach for uplink throughput prediction. LTE radio metric, such as Reference Signal Received Power (RSRP), Reference Signal Received Quality (RSRQ), and Signal to Noise Ratio (SNR) are used to train models to estimate expected uplink throughput. The prediction accuracy with high determination coefficient of 91.2% is obtained from measurements collected with a simple smartphone application.

Keywords: Drive test, LTE, machine learning, uplink throughput prediction.

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1708 Improving the Quantification Model of Internal Control Impact on Banking Risks

Authors: M. Ndaw, G. Mendy, S. Ouya

Abstract:

Risk management in banking sector is a key issue linked to financial system stability and its importance has been elevated by technological developments and emergence of new financial instruments. In this paper, we improve the model previously defined for quantifying internal control impact on banking risks by automatizing the residual criticality estimation step of FMECA. For this, we defined three equations and a maturity coefficient to obtain a mathematical model which is tested on all banking processes and type of risks. The new model allows an optimal assessment of residual criticality and improves the correlation rate that has become 98%.

Keywords: Risk, Control, Banking, FMECA.

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1707 Modeling and Analysis of Twelve-phase (Multi- Phase) DSTATCOM for Multi-Phase Load Circuits

Authors: Zakir Husain

Abstract:

This paper presents modeling and analysis of 12-phase distribution static compensator (DSTATCOM), which is capable of balancing the source currents in spite of unbalanced loading and phase outages. In addition to balance the supply current, the power factor can be set to a desired value. The theory of instantaneous symmetrical components is used to generate the twelve-phase reference currents. These reference currents are then tracked using current controlled voltage source inverter, operated in a hysteresis band control scheme. An ideal compensator in place of physical realization of the compensator is used. The performance of the proposed DTATCOM is validated through MATLAB simulation and detailed simulation results are given.

Keywords: DSTATCOM, Modeling, Load balancing, Multiphase, Power factor correction.

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1706 Investigation of Regional Differences in Strong Ground Motions for the Iranian Plateau

Authors: Farhad Sedaghati, Shahram Pezeshk

Abstract:

Regional variations in strong ground motions for the Iranian Plateau have been investigated by using a simple statistical method called Analysis of Variance (ANOVA). In this respect, a large database consisting of 1157 records occurring within the Iranian Plateau with moment magnitudes of greater than or equal to 5 and Joyner-Boore distances up to 200 km has been considered. Geometric averages of horizontal peak ground accelerations (PGA) as well as 5% damped linear elastic response spectral accelerations (SA) at periods of 0.2, 0.5, 1.0, and 2.0 sec are used as strong motion parameters. The initial database is divided into two different datasets, for Northern Iran (NI) and Central and Southern Iran (CSI). The comparison between strong ground motions of these two regions reveals that there is no evidence for significant differences; therefore, data from these two regions may be combined to estimate the unknown coefficients of attenuation relationships.

Keywords: ANOVA, attenuation relationships, Iranian Plateau, PGA, regional variation, SA, strong ground motion.

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1705 New Approach for the Modeling and the Implementation of the Object-Relational Databases

Authors: Amel Grissa-Touzi, Minyar Sassi

Abstract:

Conception is the primordial part in the realization of a computer system. Several tools have been used to help inventors to describe their software. These tools knew a big success in the relational databases domain since they permit to generate SQL script modeling the database from an Entity/Association model. However, with the evolution of the computer domain, the relational databases proved their limits and object-relational model became used more and more. Tools of present conception don't support all new concepts introduced by this model and the syntax of the SQL3 language. We propose in this paper a tool of help to the conception and implementation of object-relational databases called «NAVIGTOOLS" that allows the user to generate script modeling its database in SQL3 language. This tool bases itself on the Entity/Association and navigational model for modeling the object-relational databases.

Keywords: Abstract Data Table, Navigational model, Objectrelational databases, References.

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1704 Localization of Geospatial Events and Hoax Prediction in the UFO Database

Authors: Harish Krishnamurthy, Anna Lafontant, Ren Yi

Abstract:

Unidentified Flying Objects (UFOs) have been an interesting topic for most enthusiasts and hence people all over the United States report such findings online at the National UFO Report Center (NUFORC). Some of these reports are a hoax and among those that seem legitimate, our task is not to establish that these events confirm that they indeed are events related to flying objects from aliens in outer space. Rather, we intend to identify if the report was a hoax as was identified by the UFO database team with their existing curation criterion. However, the database provides a wealth of information that can be exploited to provide various analyses and insights such as social reporting, identifying real-time spatial events and much more. We perform analysis to localize these time-series geospatial events and correlate with known real-time events. This paper does not confirm any legitimacy of alien activity, but rather attempts to gather information from likely legitimate reports of UFOs by studying the online reports. These events happen in geospatial clusters and also are time-based. We look at cluster density and data visualization to search the space of various cluster realizations to decide best probable clusters that provide us information about the proximity of such activity. A random forest classifier is also presented that is used to identify true events and hoax events, using the best possible features available such as region, week, time-period and duration. Lastly, we show the performance of the scheme on various days and correlate with real-time events where one of the UFO reports strongly correlates to a missile test conducted in the United States.

Keywords: Time-series clustering, feature extraction, hoax prediction, geospatial events.

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1703 Correction of Infrared Data for Electrical Components on a Board

Authors: Seong-Ho Song, Ki-Seob Kim, Seop-Hyeong Park, Seon-Woo Lee

Abstract:

In this paper, the data correction algorithm is suggested when the environmental air temperature varies. To correct the infrared data in this paper, the initial temperature or the initial infrared image data is used so that a target source system may not be necessary. The temperature data obtained from infrared detector show nonlinear property depending on the surface temperature. In order to handle this nonlinear property, Taylor series approach is adopted. It is shown that the proposed algorithm can reduce the influence of environmental temperature on the components in the board. The main advantage of this algorithm is to use only the initial temperature of the components on the board rather than using other reference device such as black body sources in order to get reference temperatures.

Keywords: Infrared camera, Temperature Data compensation, Environmental Ambient Temperature, Electric Component

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1702 An Efficient Framework to Build Up Malware Dataset

Authors: Madihah Mohd Saudi, Zul Hilmi Abdullah

Abstract:

This research paper presents a framework on how to build up malware dataset.Many researchers took longer time to clean the dataset from any noise or to transform the dataset into a format that can be used straight away for testing. Therefore, this research is proposing a framework to help researchers to speed up the malware dataset cleaningprocesses which later can be used for testing. It is believed, an efficient malware dataset cleaning processes, can improved the quality of the data, thus help to improve the accuracy and the efficiency of the subsequent analysis. Apart from that, an in-depth understanding of the malware taxonomy is also important prior and during the dataset cleaning processes. A new Trojan classification has been proposed to complement this framework.This experiment has been conducted in a controlled lab environment and using the dataset from VxHeavens dataset. This framework is built based on the integration of static and dynamic analyses, incident response method and knowledge database discovery (KDD) processes.This framework can be used as the basis guideline for malware researchers in building malware dataset.

Keywords: Dataset, knowledge database discovery (KDD), malware, static and dynamic analyses.

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1701 Analyzing Disclosure Practice of Religious Nonprofit Organizations using Partial Disclosure Index

Authors: Ruhaya Atan, Saunah Zainon, Roland Yeow Theng Nam, Sharifah Aliman

Abstract:

This study examines the relevance of disclosure practices in improving the accountability and transparency of religious nonprofit organizations (RNPOs). The assessment of disclosure is based on the annual returns of RNPOs for the financial year 2010. In order to quantify the information disclosed in the annual returns, partial disclosure indexes of basic information (BI) disclosure index, financial information (FI) disclosure index and governance information (GI) disclosure index have been built which takes into account the content of information items in the annual returns. The empirical evidence obtained revealed low disclosure practices among RNPOs in the sample. The multiple regression results showed that the organizational attribute of the board size appeared to be the most significant predictor for both partial index on the extent of BI disclosure index, and FI disclosure index. On the other hand, the extent of financial information disclosure is related to the amount of donation received by RNPOs. On GI disclosure index, the existence of an external audit appeared to be significant variable. This study has contributed to the academic literature in providing empirical evidence of the disclosure practices among RNPOs.

Keywords: disclosure, index, partial, NPOs, religious

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1700 Wavelet - Based Classification of Outdoor Natural Scenes by Resilient Neural Network

Authors: Amitabh Wahi, Sundaramurthy S.

Abstract:

Natural outdoor scene classification is active and promising research area around the globe. In this study, the classification is carried out in two phases. In the first phase, the features are extracted from the images by wavelet decomposition method and stored in a database as feature vectors. In the second phase, the neural classifiers such as back-propagation neural network (BPNN) and resilient back-propagation neural network (RPNN) are employed for the classification of scenes. Four hundred color images are considered from MIT database of two classes as forest and street. A comparative study has been carried out on the performance of the two neural classifiers BPNN and RPNN on the increasing number of test samples. RPNN showed better classification results compared to BPNN on the large test samples.

Keywords: BPNN, Classification, Feature extraction, RPNN, Wavelet.

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1699 Hopfield Network as Associative Memory with Multiple Reference Points

Authors: Domingo López-Rodríguez, Enrique Mérida-Casermeiro, Juan M. Ortiz-de-Lazcano-Lobato

Abstract:

Hopfield model of associative memory is studied in this work. In particular, two main problems that it possesses: the apparition of spurious patterns in the learning phase, implying the well-known effect of storing the opposite pattern, and the problem of its reduced capacity, meaning that it is not possible to store a great amount of patterns without increasing the error probability in the retrieving phase. In this paper, a method to avoid spurious patterns is presented and studied, and an explanation of the previously mentioned effect is given. Another technique to increase the capacity of a network is proposed here, based on the idea of using several reference points when storing patterns. It is studied in depth, and an explicit formula for the capacity of the network with this technique is provided.

Keywords: Associative memory, Hopfield network, network capacity, spurious patterns.

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1698 Computational Prediction of Complicated Atmospheric Motion for Spinning or non- Spinning Projectiles

Authors: Dimitrios N. Gkritzapis, Elias E. Panagiotopoulos, Dionissios P. Margaris, Dimitrios G. Papanikas

Abstract:

A full six degrees of freedom (6-DOF) flight dynamics model is proposed for the accurate prediction of short and long-range trajectories of high spin and fin-stabilized projectiles via atmospheric flight to final impact point. The projectiles is assumed to be both rigid (non-flexible), and rotationally symmetric about its spin axis launched at low and high pitch angles. The mathematical model is based on the full equations of motion set up in the no-roll body reference frame and is integrated numerically from given initial conditions at the firing site. The projectiles maneuvering motion depends on the most significant force and moment variations, in addition to wind and gravity. The computational flight analysis takes into consideration the Mach number and total angle of attack effects by means of the variable aerodynamic coefficients. For the purposes of the present work, linear interpolation has been applied from the tabulated database of McCoy-s book. The developed computational method gives satisfactory agreement with published data of verified experiments and computational codes on atmospheric projectile trajectory analysis for various initial firing flight conditions.

Keywords: Constant-Variable aerodynamic coefficients, low and high pitch angles, wind.

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1697 A Comparative Study on the Financial Characteristics for Development Methods of Urban Development Project - Focusing on Multi-level Replotting Method -

Authors: Jin hui Kim, Hyung kwan Cho, Ji won Moon, Hoon Chang

Abstract:

The purpose of this study is comparing and analysing of the financial characteristics for development methods of the urban development project in the established area, focusing on the multi-level replotting. Analysis showed that the type of the lowest expenditure was 'combination type of group-land and multi-level replotting' and the type of the highest profitability was 'multi-level replotting type'. But 'multi-level replotting type' has still risk of amount of cost for the additional architecture. In addition, we subdivided standard amount for liquidation of replotting and analysed income-expenditure flow. Analysis showed that both of 'multi-level replotting type' and 'combination type of group-land and multi-level replotting' improved profitability of project and property change ratio. However, when the standard was under a certain amount, amount of original property for the replotting was increased exponentially, and profitability of project.

Keywords: Urban development, multi-level replotting, financial characteristics, expropriation type, combination type, urban meteorology.

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1696 The Application of Regulatory Impact Assessment (RIA) on the Czech Financial Market

Authors: Jana Chvalkovska, Petr Jansky, Petr Teply

Abstract:

The impact assessment in its various forms has recently become a very important part of policy-making and legislation in many different countries. Regulatory impact assessment (RIA) is yet another set of analytical methods deployed in the legislation of the European Union, of many developed countries as well as in many developing ones such as Mexico, Malaysia and Philippines. The aim of this paper is to provide a theoretical background for economic models in regulatory impact assessment and an overview of their application especially on the financial market in the Czech Republic. We found out an inadequate application of these models, what makes room for further research in this field.

Keywords: regulatory impact assessment, RIA, impact evaluation, building societies, Czech Republic

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1695 The Determinants of Corporate Cash Holdings in Nigeria: Evidence from General Method of Moments (GMM)

Authors: Sunday E. Ogundipe, Rafiu O. Salawu, Lawrencia O. Ogundipe

Abstract:

The study examines the determinants of corporate cash holding of non-financial quoted firms in Nigeria using a sample of fifty four non-financial quoted firms listed on the Nigeria Stock Exchange for the period 1995-2009. Data were sourced from the Annual reports of the sampled firms and analyzed using Generalized Method of Moments(GMM). The study finds evidence supportive of a target adjustment model and that firms can not instantaneously adjust towards the target cash level owing to the fact that adjustment cost being costly,. Also, the result shows significant negative relationship between cash holdings and firm size, net working capital, return on asset and bank relationship and positive relationship with growth opportunities, leverage, inventories, account receivables and financial distress. Furthermore, there is no significant relationship between cash holdings and cash flow. In Nigerian setting, most of the variables that are relevant for explaining cash holdings in the Developed countries are found by this study to be relevant also in Nigeria.

Keywords: Adjustment Model , Cash holding, Determinant, Generalized Method of Moments(GMM)

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1694 Measurement of Intellectual Capital in an Algerian Company

Authors: S. Brahmi, S. Aitouche, M. D. Mouss

Abstract:

Every modern company should measure the value of its intellectual capital and to report to complement the traditional annual balance sheets. The purpose of this work is to measure the intellectual capital in an Algerian company (or production system) using the Weightless Wealth Tool Kit (WWTK). The results of the measurement of intellectual capital are supplemented by traditional financial ratios. The measurement was applied to the National Company of Wells Services (ENSP) in Hassi Messaoud city, in the south of Algeria. We calculated the intellectual capital (intangible resources) of the ENSP to help the organization to better capitalize on its potential of workers and their know-how. The intangible value of the ENSP is evaluated at 16,936,173,345 DA in 2015.

Keywords: Financial valuation, intangible capital, intellectual capital, intellectual capital measurement.

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1693 Easy-Interactive Ordering of the Pareto Optimal Set with Imprecise Weights

Authors: Maria Kalinina, Aron Larsson, Leif Olsson

Abstract:

In the multi objective optimization, in the case when generated set of Pareto optimal solutions is large, occurs the problem to select of the best solution from this set. In this paper, is suggested a method to order of Pareto set. Ordering the Pareto optimal set carried out in conformity with the introduced distance function between each solution and selected reference point, where the reference point may be adjusted to represent the preferences of a decision making agent. Preference information about objective weights from a decision maker may be expressed imprecisely. The developed elicitation procedure provides an opportunity to obtain surrogate numerical weights for the objectives, and thus, to manage impreciseness of preference. The proposed method is a scalable to many objectives and can be used independently or as complementary to the various visualization techniques in the multidimensional case.

Keywords: Imprecise weights, Multiple objectives, Pareto optimality, Visualization.

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