Search results for: Measurement of Market Orientation

Authors: Mohammed Saleem Tariq

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The enthusiasm for gluten avoidance in a growing market is met by improvements in sensitive detection methods for analysing gluten content. Paradoxically, manufacturers employ no such systems in the production process but continue to market their product as gluten free, a significant risk posed to an undetermined coeliac population. This paper resonates with an immunological response that causes gastrointestinal scarring and villous atrophy with the conventional description of personal injury. This thesis divulges into evaluating potential inadequacies of gluten labelling laws which not only present a diagnostic challenge for general practitioners in the UK but it also exposes a less than adequate form of available legal protection to those who suffer adverse reactions as a result of gluten digestion. Central to this discussion is whether a claim brought in misrepresentation, negligence and/or under the Consumer Protection Act 1987 could be sustained. An interesting comparison is then made with the legal regimes of neighboring jurisdictions furthering the theme of a legally un-catered for gluten kingdom.

Keywords: Coeliac, litigation, misrepresentation, negligence.

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Authors: L. Agneni, F. Carta, C. Micheletta, V. Tersigni

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The development of a qualitative method to profile jobseekers is needed to improve the quality of the Public Employment Services (PES) in Italy. This is why the National Agency for Active Labour Market Policies (ANPAL) decided to introduce a Qualitative Profiling Service in the context of the activities carried out by local employment offices’ operators. The qualitative profiling service provides information and data regarding the jobseeker’s personal transition status, through a semi-structured questionnaire administered to PES clients during the guidance interview. The questionnaire responses allow PES staff to identify, for each client, proper activities and policy measures to support jobseekers in their reintegration into the labour market. Data and information gathered by the qualitative profiling tool are the following: frequency, modalities and motivations for clients to apply to local employment offices; clients’ expectations and skills; difficulties that they have faced during the previous working experiences; strategies, actions undertaken and activated channels for job search. These data are used to assess jobseekers’ personal and career characteristics and to measure their employability level (qualitative profiling index), in order to develop and deliver tailor-made action programmes for each client. This paper illustrates the use of the above-mentioned qualitative profiling service on the national territory and provides an overview of the main findings of the survey: concerning the difficulties that unemployed people face in finding a job and their perception of different aspects related to the transition in the labour market. The survey involved over 10.000 jobseekers registered with the PES. Most of them are beneficiaries of the “citizens' income”, a specific active labour policy and social inclusion measure. Furthermore, data analysis allows classifying jobseekers into a specific group of clients with similar features and behaviours, on the basis of socio-demographic variables, customers' expectations, needs and required skills for the profession for which they seek employment. Finally, the survey collects PES staff opinions and comments concerning clients’ difficulties in finding a new job and also their strengths. This is a starting point for PESs’ operators to define adequate strategies to facilitate jobseekers’ access or reintegration into the labour market.

Keywords: Labour market transition, Public Employment Services, qualitative profiling, vocational guidance.

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Authors: Somchai Supattarakul, Anya Khanthavit

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This study aims at providing empirical evidence on a comparison of two equity valuation models: (1) the dividend discount model (DDM) and (2) the residual income model (RIM), in estimating equity values of Thai firms during 1995-2004. Results suggest that DDM and RIM underestimate equity values of Thai firms and that RIM outperforms DDM in predicting cross-sectional stock prices. Results on regression of cross-sectional stock prices on the decomposed DDM and RIM equity values indicate that book value of equity provides the greatest incremental explanatory power, relative to other components in DDM and RIM terminal values, suggesting that book value distortions resulting from accounting procedures and choices are less severe than forecast and measurement errors in discount rates and growth rates. We also document that the incremental explanatory power of book value of equity during 1998-2004, representing the information environment under Thai Accounting Standards reformed after the 1997 economic crisis to conform to International Accounting Standards, is significantly greater than that during 1995-1996, representing the information environment under the pre-reformed Thai Accounting Standards. This implies that the book value distortions are less severe under the 1997 Reformed Thai Accounting Standards than the pre-reformed Thai Accounting Standards.

Keywords: Dividend Discount Model, Equity Valuation Model, Residual Income Model, Thai Stock Market

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Authors: Han Guan Chew, Keith Yong Ngee Ng, Shan-Wei Fan

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In Singapore, talent retention is one of the most persistent and real issue companies have to grapple with due to the tight labour market. Being resource-scarce, Singapore depends solely on its talented pool of high quality human resource to sustain its competitive advantage in the global economy. But the complex and multifaceted nature of turnover phenomenon makes the prescription of effective talent retention strategies in such a competitive labour market very challenging, especially when it comes to monetary incentives, companies struggle to answer the question of “How much is enough?” By examining the interactive effects of perceived alternative employment opportunities, annual salary and satisfaction with compensation on the turnover intention of 102 Singapore Professionals, Managers, Executives and Technicians (PMET) through correlation analyses and multiple regressions, important insights into the psyche of the Singapore talent pool can be drawn. It is found that annual salary influence turnover intention indirectly through mediation and moderation effects on PMET’s satisfaction on compensation. PMET are also found to be heavily swayed by better external opportunities. This implies that talent retention strategies should not adopt a purely monetary based blanket approach but rather a comprehensive and holistic one that considers the dynamics of prevailing market conditions.

Keywords: Employee Turnover, High Performers, Knowledge Workers, Perceived Alternative Employment Opportunities Salary, Satisfaction on Compensation, Singapore PMET, Talent Retention.

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Authors: Rasheed A. Adebayo, Mehluli M. Moyo, Ignatius V. Nsahlai

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Ruminants are known to relish roughage for productivity but the effect of its quality on digesta load in rumen, omasum, abomasum and other distal organs of the digestive tract is yet unknown. Reticulorumen fill is a strong indicator for long-term control of intake in ruminants. As such, the measurement and prediction of digesta load in these compartments may be crucial to productivity in the ruminant industry. The current study aimed at determining the effect of (a) diet quality on digesta load in digestive organs of goats, and (b) period of meal termination on the reticulorumen fill and digesta load in other distal compartments of the digestive tract of goats. Goats were fed with urea-treated hay (UTH), urea-sprayed hay (USH) and non-treated hay (NTH). At the end of eight weeks of a feeding trial period, upon termination of a meal in the morning, afternoon or evening, all goats were slaughtered in random groups of three per day to measure reticulorumen fill and digesta loads in other distal compartments of the digestive tract. Both diet quality and period affected (P < 0.05) the measure of reticulorumen fill. However, reticulorumen fill in the evening was larger (P < 0.05) than afternoon, while afternoon was similar (P > 0.05) to morning. Also, diet quality affected (P < 0.05) the wet omasal digesta load, wet abomasum, dry abomasum and dry caecum digesta loads but did not affect (P > 0.05) both wet and dry digesta loads in other compartments of the digestive tract. Period of measurement did not affect (P > 0.05) the wet omasal digesta load, and both wet and dry digesta loads in other compartments of the digestive tract except wet abomasum digesta load (P < 0.05) and dry caecum digesta load (P < 0.05). Both wet and dry reticulorumen fill were correlated (P < 0.05) with omasum (r = 0.623) and (r = 0.723), respectively. In conclusion, reticulorumen fill of goats decreased by improving the roughage quality; and the period of meal termination and measurement of the fill is a key factor to the quantity of digesta load.

Keywords: Digesta, goats, meal termination, reticulorumen fill.

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Authors: Jihye Jeon

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This paper analyzes the political and economic issues that people with disabilities face related to globalization; how people with disabilities have been adapting globalization and surviving under worldwide competition system. It explains that economic globalization exacerbates inequality and deprivation of people with disabilities. The rising tide of neo-liberal welfare policies emphasized efficiency, downsized social expenditure for people with disabilities, excluded people with disabilities against labor market, and shifted them from welfare system to nothing. However, there have been people with disabilities' political responses to globalization, which are characterized by a global network of people with disabilities as well as participation to global governance. Their resistance can be seen as an attempt to tackle the problems that economic globalization has produced. It is necessary paradigm shift of disability policy from dependency represented by disability benefits to independency represented by labor market policies for people with disabilities.

Keywords: Economic Globalization, People with Disability, Deprivation, Welfare Cut, Disability Right Movement, Resistance.

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Authors: Talal Alsulaiman, Khaldoun Khashanah

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In this paper, we provided a literature survey on the artificial stock problem (ASM). The paper began by exploring the complexity of the stock market and the needs for ASM. ASM aims to investigate the link between individual behaviors (micro level) and financial market dynamics (macro level). The variety of patterns at the macro level is a function of the AFM complexity. The financial market system is a complex system where the relationship between the micro and macro level cannot be captured analytically. Computational approaches, such as simulation, are expected to comprehend this connection. Agent-based simulation is a simulation technique commonly used to build AFMs. The paper proceeds by discussing the components of the ASM. We consider the roles of behavioral finance (BF) alongside the traditionally risk-averse assumption in the construction of agent’s attributes. Also, the influence of social networks in the developing of agents interactions is addressed. Network topologies such as a small world, distance-based, and scale-free networks may be utilized to outline economic collaborations. In addition, the primary methods for developing agents learning and adaptive abilities have been summarized. These incorporated approach such as Genetic Algorithm, Genetic Programming, Artificial neural network and Reinforcement Learning. In addition, the most common statistical properties (the stylized facts) of stock that are used for calibration and validation of ASM are discussed. Besides, we have reviewed the major related previous studies and categorize the utilized approaches as a part of these studies. Finally, research directions and potential research questions are argued. The research directions of ASM may focus on the macro level by analyzing the market dynamic or on the micro level by investigating the wealth distributions of the agents.

Keywords: Artificial stock markets, agent based simulation, bounded rationality, behavioral finance, artificial neural network, interaction, scale-free networks.

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Authors: Pei. P. Tan, Don. U.A. Galagedera, Elizabeth A.Maharaj

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This paper examines predictability in stock return in developed and emergingmarkets by testing long memory in stock returns using wavelet approach. Wavelet-based maximum likelihood estimator of the fractional integration estimator is superior to the conventional Hurst exponent and Geweke and Porter-Hudak estimator in terms of asymptotic properties and mean squared error. We use 4-year moving windows to estimate the fractional integration parameter. Evidence suggests that stock return may not be predictable indeveloped countries of the Asia-Pacificregion. However, predictability of stock return insome developing countries in this region such as Indonesia, Malaysia and Philippines may not be ruled out. Stock return in the Thailand stock market appears to be not predictable after the political crisis in 2008.

Keywords: Asia-Pacific stock market, long-memory, return predictability, wavelet

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Authors: Binay K. Dutta, Tayseir M. Abd Ellateif, Saikat Maitra

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In the present work homogeneous silica film on silicon was fabricated by colloidal silica sol. The silica sol precursor with uniformly granular particle was derived by the alkaline hydrolysis of tetraethoxyorthosilicate (TEOS) in presence of glycerol template. The film was prepared by dip coating process. The templated hetero-structured silica film was annealed at elevated temperatures to generate nano- and meso porosity in the film. The film was subsequently annealed at different temperatures to make it defect free and abrasion resistant. The sol and the film were characterized by the measurement of particle size distribution, scanning electron microscopy, XRD, FTIR spectroscopy, transmission electron microscopy, atomic force microscopy, measurement of the refractive index, thermal conductivity and abrasion resistance. The porosity of the films decreased whereas refractive index and dielectric constant of it `increased with the increase in the annealing temperature. The thermal conductivity of the films increased with the increase in the film thickness. The developed porous silica film holds strong potential for use in different areas.

Keywords: Silica film, Nanoporous, Sol-gel, Templating, Dip coating.

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Authors: Ben Mohamed Ahemed Mohamed, Yassine Adnan

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The problem of bin-packing in two dimensions (2BP) consists in placing a given set of rectangular items in a minimum number of rectangular and identical containers, called bins. This article treats the case of objects with a free orientation of 90Ôùª. We propose an approach of resolution combining optimization by colony of ants (ACO) and the heuristic method IMA to resolve this NP-Hard problem.

Keywords: Ant colony algorithm, bin-packing problem, heuristics methods.

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Authors: Mojtaba Molaahmadi, Morteza Raei Dehaghi, Abdolrahim Arghavan

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The present study aims to explore the effect of computerization on marketing performance in Snowa Company. In other words, this study intends to respond to this question that whether or not, is there any relationship between utilization of computerization in marketing activities and marketing performance? The statistical population included 60 marketing managers of Snowa Company. In order to test the research hypotheses, Pearson correlation coefficient was employed. The reliability was equal to 96.8%. In this study, computerization was the independent variable and marketing performance was the dependent variable with characteristics of market share, improving the competitive position, and sales volume. The results of testing the hypotheses revealed that there is a significant relationship between utilization of computerization and market share, sales volume and improving the competitive position.

Keywords: Computerization, e-marketing information, information technology, marketing performance.

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Authors: Milan Rippel, Petr Teply

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This paper focuses on operational risk measurement techniques and on economic capital estimation methods. A data sample of operational losses provided by an anonymous Central European bank is analyzed using several approaches. Loss Distribution Approach and scenario analysis method are considered. Custom plausible loss events defined in a particular scenario are merged with the original data sample and their impact on capital estimates and on the financial institution is evaluated. Two main questions are assessed – What is the most appropriate statistical method to measure and model operational loss data distribution? and What is the impact of hypothetical plausible events on the financial institution? The g&h distribution was evaluated to be the most suitable one for operational risk modeling. The method based on the combination of historical loss events modeling and scenario analysis provides reasonable capital estimates and allows for the measurement of the impact of extreme events on banking operations.

Keywords: operational risk, scenario analysis, economic capital, loss distribution approach, extreme value theory, stress testing

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Authors: Kristjan Kuhi, Kati K. Kaare, Ott Koppel

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Modern management in most fields is performance based; both planning and implementation of maintenance and operational activities are driven by appropriately defined performance indicators. Continuous real-time data collection for management is becoming feasible due to technological advancements. Outdated and insufficient input data may result in incorrect decisions. When using deterministic models the uncertainty of the object state is not visible thus applying the deterministic models are more likely to give false diagnosis. Constructing structured probabilistic models of the performance indicators taking into consideration the surrounding indicator environment enables to estimate the trustworthiness of the indicator values. It also assists to fill gaps in data to improve the quality of the performance analysis and management decisions. In this paper authors discuss the application of probabilistic graphical models in the road performance measurement and propose a high-level conceptual model that enables analyzing and predicting more precisely future pavement deterioration based on road utilization.

Keywords: Probabilistic graphical models, performance indicators, road performance management, data collection

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Authors: Y.C. Liu, S.J. Lu, Y.C. Weng, H. Su

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The objective of this paper is to investigate a new approach based on the idea of pictograms for food portion size. This approach adopts the model of the United States Pharmacopeia- Drug Information (USP-DI). The representation of each food portion size composed of three parts: frame, the connotation of dietary portion sizes and layout. To investigate users- comprehension based on this approach, two experiments were conducted, included 122 Taiwanese people, 60 male and 62 female with ages between 16 and 64 (divided into age groups of 16-30, 31-45 and 46-64). In Experiment 1, the mean correcting rate of the understanding level of food items is 48.54% (S.D.= 95.08) and the mean response time 2.89sec (S.D.=2.14). The difference on the correct rates for different age groups is significant (P*=0.00<0.05). In Experiment 2, the correcting rate of selecting the right life-size measurement aid is 65.02% (S.D.=21.31). The result showed the potential of the approach for certain food potion sizes. Issues raised for discussions including comprehension on numerous food varieties in an open environment, selection of photograph or drawing, reasons of different correcting rates for the measurement aid. This research also could be used for those interested in systematic and pictorial representation of dietary portion size information.

Keywords: Comprehension, Food Portion Size, Model of DietaryInformation, Pictogram Design, USP-DI.

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Authors: Subarna Ferdous, Mitsuru Ikeda

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For the shrimp companies to remain relevant to its local and international consumers, they must offer new shrimp product and services. It must work actively not just to create value for the consumer, but to involve the consumer in co-creating value for shrimp product innovation in the market. In this theoretical work, we conceptualize the business concept of value co-creation in the context of shrimp products, and propose a framework of value co-creation for shrimp product innovation in shrimp industries. With guidance on value co-creation in in shrimp industry, and shrimp value chain actors mapped to the co-creation cycle, companies can use the framework to offer new shrimp product to consumer communities. Although customer co-creation is known approach in the world, it is not commonly used by the companies in Bangladesh. This paper makes an original contribution by conceptualizing co-creation and set the examples of best co-creation practices in food sector. The results of the study provide management with guidelines for successful co-creation projects with an innovation- and market-oriented approach. The framework also provides a basis for further research in this area.

Keywords: Bangladesh, shrimp industry, shrimp product, value co-creation.

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Authors: Z. C. Chang, S. C. Liang

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RF magnetron sputtering is used on the ceramic targets, each of which contains zinc oxide (ZnO), zinc oxide doped with aluminum (AZO) and zinc oxide doped with gallium (GZO). The electric conduction mechanism of the AZO and GZO films came mainly from the Al and Ga, the oxygen vacancies, Zn interstitial atoms, and Al and/or Ga interstitial atoms. AZO and GZO films achieved higher conduction than did ZnO film, it being ion vacant and nonstoichiometric. The XRD analysis showed a preferred orientation along the (002) plane for ZnO, AZO, and GZO films.

Keywords: ZnO, AZO, GZO, Doped, Sputtering

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Authors: Sreedevi P. Chakyar, Jolly Andrews, V. P. Joseph

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A compact method for measuring the relative permittivity of a dielectric material at different temperatures using a single circular Split Ring Resonator (SRR) metamaterial unit working as a test probe is presented in this paper. The dielectric constant of a material is dependent upon its temperature and the LC resonance of the SRR depends on its dielectric environment. Hence, the temperature of the dielectric material in contact with the resonator influences its resonant frequency. A single SRR placed between transmitting and receiving probes connected to a Vector Network Analyser (VNA) is used as a test probe. The dependence of temperature between 30 ^oC and 60 ^oC on resonant frequency of SRR is analysed. Relative permittivities ‘ε’ of test samples for different temperatures are extracted from a calibration graph drawn between the relative permittivity of samples of known dielectric constant and their corresponding resonant frequencies. This method is found to be an easy and efficient technique for analysing the temperature dependent permittivity of different materials.

Keywords: Metamaterials, negative permeability, permittivity measurement techniques, split ring resonators, temperature dependent dielectric constant.

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Authors: Fazıl Gökgöz, Fahrettin Filiz

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Electricity prices have sophisticated features such as high volatility, nonlinearity and high frequency that make forecasting quite difficult. Electricity price has a volatile and non-random character so that, it is possible to identify the patterns based on the historical data. Intelligent decision-making requires accurate price forecasting for market traders, retailers, and generation companies. So far, many shallow-ANN (artificial neural networks) models have been published in the literature and showed adequate forecasting results. During the last years, neural networks with many hidden layers, which are referred to as DNN (deep neural networks) have been using in the machine learning community. The goal of this study is to investigate electricity price forecasting performance of the shallow-ANN and DNN models for the Turkish day-ahead electricity market. The forecasting accuracy of the models has been evaluated with publicly available data from the Turkish day-ahead electricity market. Both shallow-ANN and DNN approach would give successful result in forecasting problems. Historical load, price and weather temperature data are used as the input variables for the models. The data set includes power consumption measurements gathered between January 2016 and December 2017 with one-hour resolution. In this regard, forecasting studies have been carried out comparatively with shallow-ANN and DNN models for Turkish electricity markets in the related time period. The main contribution of this study is the investigation of different shallow-ANN and DNN models in the field of electricity price forecast. All models are compared regarding their MAE (Mean Absolute Error) and MSE (Mean Square) results. DNN models give better forecasting performance compare to shallow-ANN. Best five MAE results for DNN models are 0.346, 0.372, 0.392, 0,402 and 0.409.

Keywords: Deep learning, artificial neural networks, energy price forecasting, Turkey.

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Authors: A. Maddi, A. Guessoum, D. Berkani

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The purpose of this paper is to provide a practical example to the Linear Quadratic Gaussian (LQG) controller. This method includes a description and some discussion of the discrete Kalman state estimator. One aspect of this optimality is that the estimator incorporates all information that can be provided to it. It processes all available measurements, regardless of their precision, to estimate the current value of the variables of interest, with use of knowledge of the system and measurement device dynamics, the statistical description of the system noises, measurement errors, and uncertainty in the dynamics models. Since the time of its introduction, the Kalman filter has been the subject of extensive research and application, particularly in the area of autonomous or assisted navigation. For example, to determine the velocity of an aircraft or sideslip angle, one could use a Doppler radar, the velocity indications of an inertial navigation system, or the relative wind information in the air data system. Rather than ignore any of these outputs, a Kalman filter could be built to combine all of this data and knowledge of the various systems- dynamics to generate an overall best estimate of velocity and sideslip angle.

Keywords: Aircraft motion, Kalman filter, LQG control, Lateral stability, State estimator.

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Authors: P.Cordero, R.Poler, R.Sanchis

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The environmental impacts caused by the current production and consumption models, together with the impact that the current economic crisis, bring necessary changes in the European industry toward new business models based on sustainability issues that could allow them to innovate and improve their competitiveness. This paper analyzes the key environmental issues and the current and future market trends in one of the most important industrial sectors in Spain, the furniture sector. It also proposes new decision support tools -diagnostic kit, roadmap and guidelines- to guide companies to implement sustainability criteria into their organizations, including eco-design strategies and other economical and social strategies in accordance with the sustainability definition, and other available tools such as eco-labels, environmental management systems, etc., and to use and combine them to obtain the results the company expects to help improve its competitiveness.

Keywords: Furniture sector, eco-design, sustainability, economical crisis, market trends, roadmap

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Authors: A. Umemuro, M. Sato, M. Narita, S. Hori, S. Sakurai, T. Nakayama, A. Nakazawa, T. Ogura

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Mammography requires the detection of very small calcifications, and physicians search for microcalcifications by magnifying the images as they read them. The mouse is necessary to zoom in on the images, but this can be tiring and distracting when many images are read in a single day. Therefore, an image magnification system combining an eye-detector and a simple electroencephalograph (EEG) scanner was devised, and its operability was evaluated. Two experiments were conducted in this study: the measurement of eye-detection error using an eye-detector and the measurement of the time required for image magnification using a simple EEG scanner. Eye-detector validation showed that the mean distance of eye-detection error ranged from 0.64 cm to 2.17 cm, with an overall mean of 1.24 ± 0.81 cm for the observers. The results showed that the eye detection error was small enough for the magnified area of the mammographic image. The average time required for point magnification in the verification of the simple EEG scanner ranged from 5.85 to 16.73 seconds, and individual differences were observed. The reason for this may be that the size of the simple EEG scanner used was not adjustable, so it did not fit well for some subjects. The use of a simple EEG scanner with size adjustment would solve this problem. Therefore, the image magnification system using the eye-detector and the simple EEG scanner is useful.

Keywords: EEG scanner, eye-detector, mammography, observers.

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Authors: Zue Chin Chang

Abstract:

RF magnetron sputtering is used on the ceramic targets, each of which contains zinc oxide (ZnO), zinc oxide doped with aluminum (AZO) and zinc oxide doped with gallium (GZO). The XRD analysis showed a preferred orientation along the (002) plane for ZnO, AZO, and GZO films. The AZO film had the best electrical properties; it had the lowest resistivity of 6.6 × 10-4 cm, the best sheet resistance of 2.2 × 10-1 Ω/square, and the highest carrier concentration of 4.3 × 1020 cm-3, as compared to the ZnO and GZO films.

Keywords: Aging, films, Microstructure, Photoelectric Property.

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Authors: Tomi Roinila, Aki Taskinen, Matti Vilkko

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Switched-mode converters play now a significant role in modern society. Their operation are often crucial in various electrical applications affecting the every day life. Therefore, the quality of the converters needs to be reliably verified. Recent studies have shown that the converters can be fully characterized by a set of frequency responses which can be efficiently used to validate the proper operation of the converters. Consequently, several methods have been proposed to measure the frequency responses fast and accurately. Most often correlation-based techniques have been applied. The presented measurement methods are highly sensitive to external errors and system nonlinearities. This fact has been often forgotten and the necessary uncertainty analysis of the measured responses has been neglected. This paper presents a simple approach to analyze the noise and nonlinearities in the frequency-response measurements of switched-mode converters. Coherence analysis is applied to form a confidence interval characterizing the noise and nonlinearities involved in the measurements. The presented method is verified by practical measurements from a high-frequency switchedmode converter.

Keywords: Switched-mode converters, Frequency analysis, CoherenceAnalysis.

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Authors: Rute Abreu, Fátima David, Liliane Cristina Segura

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The Deposit Guarantee Fund (DGF) and its communication with the Society, in general, and with the deposit client of Financial Institutions, in particular, is discussed through the challenges of the accounting and financial report. The Bank of Portugal promotes the Portuguese Deposit Guarantee Fund (PDGF) as a financial institution that enhanced the market confidence and stability on the deposit-insurance system. Due to the nature of their functions, it must be subject to regulation and supervision that provides a first line of defense against adversely affect confidence on the Portuguese financial market. First, this research provides evidence of the effectiveness of the protection mechanisms on the deposit insurance system, which provides high and equal protection to all stakeholders. Second, it emphasizes the need of requirements of rigorous accounting process and effective financial report to reduce the moral hazard implications. Third, this research focuses on the need of total disclosure of the financial information which gives higher transparency and protection to deposit client of financial institutions.

Keywords: Deposit Guarantee Fund, Portugal, Accounting, Financial Report.

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Authors: Changju Lee, Seungmo Ku, Sondo Kim, Woojin Chang

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How to detecting financial bubble? Addressing this simple question has been the focus of a vast amount of empirical research spanning almost half a century. However, financial bubble is hard to observe and varying over the time; there needs to be more research on this area. In this paper, we used abnormal difference between common stocks price and those preferred stocks price to explain financial bubble. First, we proposed the ‘W-index’ which indicates spread between common stocks and those preferred stocks in stock market. Second, to prove that this ‘W-index’ is valid for measuring financial bubble, we showed that there is an inverse relationship between this ‘W-index’ and S&P500 rate of return. Specifically, our hypothesis is that when ‘W-index’ is comparably higher than other periods, financial bubbles are added up in stock market and vice versa; according to our hypothesis, if investors made long term investments when ‘W-index’ is high, they would have negative rate of return; however, if investors made long term investments when ‘W-index’ is low, they would have positive rate of return. By comparing correlation values and adjusted R-squared values of between W-index and S&P500 return, VIX index and S&P500 return, and TED index and S&P500 return, we showed only W-index has significant relationship between S&P500 rate of return. In addition, we figured out how long investors should hold their investment position regard the effect of financial bubble. Using this W-index, investors could measure financial bubble in the market and invest with low risk.

Keywords: Financial bubbles, detection, preferred stocks, pairs trading, future return, forecast.

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Authors: Faris Tarlochan, Siva Mahesh Tangutooru

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Lateral Geniculate Nucleus (LGN) is the relay center in the visual pathway as it receives most of the input information from retinal ganglion cells (RGC) and sends to visual cortex. Low threshold calcium currents (IT) at the membrane are the unique indicator to characterize this firing functionality of the LGN neurons gained by the RGC input. According to the LGN functional requirements such as functional mapping of RGC to LGN, the morphologies of the LGN neurons were developed. During the neurological disorders like glaucoma, the mapping between RGC and LGN is disconnected and hence stimulating LGN electrically using deep brain electrodes can restore the functionalities of LGN. A computational model was developed for simulating the LGN neurons with three predominant morphologies each representing different functional mapping of RGC to LGN. The firings of action potentials at LGN neuron due to IT were characterized by varying the stimulation parameters, morphological parameters and orientation. A wide range of stimulation parameters (stimulus amplitude, duration and frequency) represents the various strengths of the electrical stimulation with different morphological parameters (soma size, dendrites size and structure). The orientation (0-1800) of LGN neuron with respect to the stimulating electrode represents the angle at which the extracellular deep brain stimulation towards LGN neuron is performed. A reduced dendrite structure was used in the model using Bush–Sejnowski algorithm to decrease the computational time while conserving its input resistance and total surface area. The major finding is that an input potential of 0.4 V is required to produce the action potential in the LGN neuron which is placed at 100 μm distance from the electrode. From this study, it can be concluded that the neuroprostheses under design would need to consider the capability of inducing at least 0.4V to produce action potentials in LGN.

Keywords: Lateral geniculate nucleus, visual cortex, finite element, glaucoma, neuroprostheses.

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Authors: Siliang Wang, Minghui Wang

Abstract:

This work proposes a novel market-based air traffic flow control model considering competitive airlines in air traffic network. In the flow model, an agent based framework for resources (link/time pair) pricing is described. Resource agent and auctioneer for groups of resources are also introduced to simulate the flow management in Air Traffic Control (ATC). Secondly, the distributed group pricing algorithm is introduced, which efficiently reflect the competitive nature of the airline industry. Resources in the system are grouped according to the degree of interaction, and each auctioneer adjust s the price of one group of resources respectively until the excess demand of resources becomes zero when the demand and supply of resources of the system changes. Numerical simulation results show the feasibility of solving the air traffic flow control problem using market mechanism and pricing algorithms on the air traffic network.

Keywords: Air traffic control, Nonlinear programming, Marketmechanism, Route policy.

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Authors: Aurora Garrido-Moreno, Antonio Padilla-Meléndez, Ana Rosa Del Águila-Obra

Abstract:

After reporting a literature review on Customer Relationship Management (CRM) and knowledge management, some important issued arise, in particular related to the lack of success of CRM strategies implementation. The paper contributes to this proposing an integrated model of CRM success taking into account complementary factors such as organizational factors, technology, knowledge management and customer orientation.

Keywords: knowledge management, CRM, CRM success, organizational factors.

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Authors: Jiantao Weng, Yujie Zhao

Abstract:

With the improvement of living quality and demand for nighttime activities in China, the current situation of outdoor lighting environment at night needs to be assessed. Lighting environment at night plays an important role to guarantee night safety. Two typical residential communities in Hangzhou were selected. A comprehensive test method of outdoor lighting environment at night was established. The road, fitness area, landscape, playground and entrance were included. Field measurements and questionnaires were conducted in these two residential communities. The characteristics of residents’ habits and the subjective evaluation on different aspects of outdoor lighting environment at night were collected via questionnaire. A safety evaluation system on the outdoor lighting environment at night in the residential community was established. The results show that there is a big difference in illumination in different areas. The lighting uniformities of roads cannot meet the requirement of lighting standard in China. Residents pay more attention to the lighting environment of the fitness area and road than others. This study can provide guidance for the design and management of outdoor lighting environment at night.

Keywords: Residential community, lighting environment, night, field measurement.

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Authors: Ganiyu Amuda Yusuf, Sarajul Fikri Mohamed

Abstract:

The procurement and cost management approach adopted for mechanical and electrical (M&E) services in Malaysian construction industry have been criticized for its inefficiency. The study examined early cost estimating practices adopted for mechanical and electrical services (M&E) in Malaysia so as to understand the level of compliance of the current techniques with best practices. The methodology adopted for the study is a review of bidding documents used on both completed and on – going building projects awarded between 2008 – 2010 under 9th Malaysian Plan. The analysis revealed that, M&E services cost cannot be reliably estimated at pre-contract stage; the bidding techniques adopted for M&E services failed to provide uniform basis for contractors to submit tender; detailed measurement of items were not made which could complicate post contract cost control and financial management. The paper concluded that, there is need to follow a structured approach in determining the pre-contract cost estimate for M&E services which will serve as a virile tool for post contract cost control.

Keywords: Cost Management, Mechanical and Electrical Services, Procurement, Standard Method of Measurement

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