Search results for: Financial stability

Authors: Naimi Abdelhamid, Othmane Abdelkhalek

Abstract:

With the current rise in the demand of electrical energy, present-day power systems which are large and complex, will continue to grow in both size and complexity. Flexible AC Transmission System (FACTS) controllers provide new facilities, both in steady state power flow control and dynamic stability control. Thyristor Controlled Series Capacitor (TCSC) is one of FACTS equipment, which is used for power flow control of active power in electric power system and for increase of capacities of transmission lines. In this paper, a Backstepping Power Flow Controller (BPFC) for TCSC in multimachine power system is developed and tested. The simulation results show that the TCSC proposed controller is capable of controlling the transmitted active power and improving the transient stability when compared with conventional PI Power Flow Controller (PIPFC).

Keywords: FACTS, Thyristor Controlled Series Capacitor (TCSC), Backstepping, BPFC, PIPFC.

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Authors: Isa Nakhai Kamal Abadi, Esmaeel Saberi, Ehsan Mirjafari

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While financial institutions have faced difficulties over the years for a multitude of reasons, the major cause of serious banking problems continues to be directly related to lax credit standards for borrowers and counterparties, poor portfolio risk management, or a lack of attention to changes in economic or other circumstances that can lead to a deterioration in the credit standing of a bank's counterparties. Credit risk is most simply defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms. The goal of credit risk management is to maximize a bank's risk-adjusted rate of return by maintaining credit risk exposure within acceptable parameters. Banks need to manage the credit risk inherent in the entire portfolio as well as the risk in individual credits or transactions. Banks should also consider the relationships between credit risk and other risks. The effective management of credit risk is a critical component of a comprehensive approach to risk management and essential to the long-term success of any banking organization. In this research we also study the relationship between credit risk indices and borrower-s timely payback in Karafarin bank.

Keywords: Financial Ratios; Spearman Test; Bank OperationsRisk

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Authors: Galina Mamardashvili, Nugzar Mamardashvili, Win Dehaen

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The processes of complexation of the Zn-tetraarylporphyrins with eight 4-(4-(3,6-bis(t-butyl)carbazol-9-yl-phenyl)-1,2,3-triazole (ZnP1) and eight 4-(4-(3,6-di-tert-butyl-9-H-carbazol-9-yl)phenoxy)methyl)-2,4,6-trimethylphenyl (ZnP2)with the 1,10-diaza-4,7,13,18tetraoxabicyclo[8.5.5]eicosane (L1),1,10-diaza-4,7,13,16,21,24-hexaoxabicyclo[8.8.8]hexacosane (L2)and 1,10-diaza-5,6,14,15-dibenzo-4,7,13,16,21,24 hexaoxabicyclo[8.8.8] hexacosane (L3) were investigated by the method of spectrophotometric titration and ¹H NMR-spectroscopy. We determined the structures of the host-guest complexes, and their stability constants in toluene were calculated. It was found out that the ZnP1 interacts with the guest molecules L1, L2 with the formation of stable "nest" type complexes and does not form similar complexes with the L3 (presumably due to the fact that the L3 does not match the size of the porphyrin ZnP(1) cavity). On the other hand, the porphyrin ZnP2 binds all of the ligands L1-L3, however complexes thus formed are less stable than complexes ZnP1-L1, ZnP1-L2. In the report, we will also discuss the influence of the alkali cations additives on the stability of the complexes between the porphyrin ZnP1, ZnP2 hosts and guest molecules of the ligands L1-L3.

Keywords: Porphyrin, cryptand, cation, complex guest-host.

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Authors: A. Iqbal, N. Khalid, S. Rafiq

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The interrelationship between international stock markets has been a key study area among the financial market researchers for international portfolio management and risk measurement. The characteristics of security returns and their dynamics play a vital role in the financial market theory. This study is an attempt to find out the dynamic linkages among the equity market of USA and emerging markets of Pakistan and India using daily data covering the period of January 2003–December 2009. The study utilizes Johansen (Journal of Economic Dynamics and Control, 12, 1988) and Johansen and Juselius (Oxford Bulletin of Economics and Statistics, 52, 1990) cointegration procedure for long run relationship and Granger-causality tests based on Toda and Yamamoto (Journal of Econometrics, 66, 1995) methodology. No cointegration was found among stock markets of USA, Pakistan and India, while Granger-causality test showed the evidence of unidirectional causality running from New York stock exchange to Bombay and Karachi stock exchanges.

Keywords: Causality, Cointegration, India, Pakistan, Stock Markets, US.

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Authors: Chaoyi Sun, Congxin Chen, Yun Zheng, Kaizong Xia, Wei Zhang

Abstract:

Crest loads are often encountered in hydropower, highway, open-pit and other engineering rock slopes. Toppling failure is one of the most common deformation failure types of anti-dip bedding rock slopes. Analysis on such failure of anti-dip bedding rock slopes subjected to crest loads has an important influence on engineering practice. Based on the step-by-step analysis approach proposed by Goodman and Bray, a geo-mechanical model was developed, and the related analysis approach was proposed for the toppling failure of anti-dip bedding rock slopes subjected to crest loads. Using the transfer coefficient method, a formulation was derived for calculating the residual thrust of slope toe and the support force required to meet the requirements of the slope stability under crest loads, which provided a scientific reference to design and support for such slopes. Through slope examples, the influence of crest loads on the residual thrust and sliding ratio coefficient was investigated for cases of different block widths and slope cut angles. The results show that there exists a critical block width for such slope. The influence of crest loads on the residual thrust is non-negligible when the block thickness is smaller than the critical value. Moreover, the influence of crest loads on the slope stability increases with the slope cut angle and the sliding ratio coefficient of anti-dip bedding rock slopes increases with the crest loads. Finally, the theoretical solutions and numerical simulations using Universal Distinct Element Code (UDEC) were compared, in which the consistent results show the applicability of both approaches.

Keywords: Anti-dip slopes, crest loads, stability analysis, toppling failure.

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Authors: Sidhartha Panda, C. Ardil

Abstract:

Power system stabilizers (PSS) are now routinely used in the industry to damp out power system oscillations. In this paper, real-coded genetic algorithm (RCGA) optimization technique is applied to design robust power system stabilizer for both singlemachine infinite-bus (SMIB) and multi-machine power system. The design problem of the proposed controller is formulated as an optimization problem and RCGA is employed to search for optimal controller parameters. By minimizing the time-domain based objective function, in which the deviation in the oscillatory rotor speed of the generator is involved; stability performance of the system is improved. The non-linear simulation results are presented under wide range of operating conditions; disturbances at different locations as well as for various fault clearing sequences to show the effectiveness and robustness of the proposed controller and their ability to provide efficient damping of low frequency oscillations.

Keywords: Particle swarm optimization, power system stabilizer, low frequency oscillations, power system stability.

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Authors: Sungho Lee, Goonjae Lee, Chaeyeon Lim, Sunkuk Kim

Abstract:

Foundation of tower crane serves to ensure stability against vertical and horizontal forces. If foundation stress is not sufficient, tower crane may be subject to overturning, shearing or foundation settlement. Therefore, engineering review of stable support is a highly critical part of foundation design. However, there are not many professionals who can conduct engineering review of tower crane foundation and, if any, they have information only on a small number of cranes in which they have hands-on experience. It is also customary to rely on empirical knowledge and tower crane renter-s recommendations rather than designing foundation on the basis of engineering knowledge. Therefore, a foundation design automation system considering not only lifting conditions but also overturning risk, shearing and vertical force may facilitate production of foolproof foundation design for experts and enable even non-experts to utilize professional knowledge that only experts can access now. This study proposes Automatic Design Algorithm for the Tower Crane Foundations considering load and horizontal force.

Keywords: Tower Crane, Automatic Design, Foundations, Optimization Algorithm, Stability

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Authors: Anirut Luadsong, Nitima Aschariyaphotha

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The spectral action balance equation is an equation that used to simulate short-crested wind-generated waves in shallow water areas such as coastal regions and inland waters. This equation consists of two spatial dimensions, wave direction, and wave frequency which can be solved by finite difference method. When this equation with dominating convection term are discretized using central differences, stability problems occur when the grid spacing is chosen too coarse. In this paper, we introduce the splitting upwind schemes for avoiding stability problems and prove that it is consistent to the upwind scheme with same accuracy. The splitting upwind schemes was adopted to split the wave spectral action balance equation into four onedimensional problems, which for each small problem obtains the independently tridiagonal linear systems. For each smaller system can be solved by direct or iterative methods at the same time which is very fast when performed by a multi-processor computer.

Keywords: upwind scheme, parallel algorithm, spectral action balance equation, splitting method.

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Authors: Helena Costa Oliveira, Carmem Oliveira, Rita Moutinho

Abstract:

The Balanced Scorecard (BSC) is a continuous strategic monitoring model focused not only on financial issues but also on internal processes, patients/users, and learning and growth. Initially dedicated to business management, it currently serves organizations of other natures - such as hospitals. This paper presents a BSC designed for a Portuguese Acute Pain Unit (APU). This study is qualitative and based on the experience of collaborators at the APU. The management of APU is based on four perspectives – users, internal processes, learning and growth, and financial and legal. For each perspective, there were identified strategic objectives, critical factors, lead indicators and initiatives. The strategic map of the APU outlining sustained strategic relations among strategic objectives. This study contributes to the development of research in the health management area as it explores how organizational insufficiencies and inconsistencies in this particular case can be addressed, through the identification of critical factors, to clearly establish core outcomes and initiatives to set up.

Keywords: Acute pain unit, balanced scorecard, hospital management, organizational performance, Portugal.

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Authors: G. Parmar, S. Mukherjee, R. Prasad

Abstract:

The authors present an optimization algorithm for order reduction and its application for the determination of the relative mapping errors of linear time invariant dynamic systems by the simplified models. These relative mapping errors are expressed by means of the relative integral square error criterion, which are determined for both unit step and impulse inputs. The reduction algorithm is based on minimization of the integral square error by particle swarm optimization technique pertaining to a unit step input. The algorithm is simple and computer oriented. It is shown that the algorithm has several advantages, e.g. the reduced order models retain the steady-state value and stability of the original system. Two numerical examples are solved to illustrate the superiority of the algorithm over some existing methods.

Keywords: Order reduction, Particle swarm optimization, Relative mapping error, Stability.

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Authors: U. Şendurur, B. Nazlıoğlu

Abstract:

Using Turkish data, in this study it is investigated that whether a firm’s ownership structure has an impact on its stock prices after the crisis. A linear regression model is conducted on the data of non-financial firms that are trading in Istanbul Stock Exchange 100 Index (ISE 100) index. The findings show that, all explanatory variables such as inside ownership, largest ownership, concentrated ownership, foreign shareholders, family controlled and dispersed ownership are not very important to explain stock prices after the crisis. Family controlled firms and concentrated ownership is positively related to stock price, dispersed ownership, largest ownership, foreign shareholders, and inside ownership structures have negative interaction between stock prices, but because of the p value is not under the value of 0.05 this relation is not significant. In addition, the analysis shows that, the shares of firms that have inside, largest and dispersed ownership structure are outperform comparing with the other firms. Furthermore, ownership concentrated firms outperform to family controlled firms.

Keywords: Financial crisis, ISE 100 Index, Ownership structure, Stock price.

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Authors: Ivana Tadić, Snježana Pivac

Abstract:

Although human resources are recognized as the crucial companies’ resources and their positive influence on companies’ performances has been confirmed through different researches, scientists are still debating it. In order to contribute this debate, this paper firstly discusses the most important human resource management elements and practices and its influence on companies’ success. Afterwards it defines human resource “bundles” – interrelated and internally consistent human resource practices, complementary to each other, or the most important human resource practices and elements regarding Croatian companies and its human resource management activities. Finally, the paper provides empirical results; more precisely it reveals the relation of the level of development of human resource management function (“bundles”) and companies’ financial performances (using profitability ratios, liquidity ratios, solvency ratios and a group of additional ratios related to employees’ indicators).

Keywords: Companies’ performances, human resource bundles, multivariate statistical analysis.

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Authors: G. Parmar, S. Mukherjee, R. Prasad

Abstract:

The authors present an algorithm for order reduction of linear time invariant dynamic systems using the combined advantages of the eigen spectrum analysis and the error minimization by particle swarm optimization technique. Pole centroid and system stiffness of both original and reduced order systems remain same in this method to determine the poles, whereas zeros are synthesized by minimizing the integral square error in between the transient responses of original and reduced order models using particle swarm optimization technique, pertaining to a unit step input. It is shown that the algorithm has several advantages, e.g. the reduced order models retain the steady-state value and stability of the original system. The algorithm is illustrated with the help of two numerical examples and the results are compared with the other existing techniques.

Keywords: Eigen spectrum, Integral square error, Orderreduction, Particle swarm optimization, Stability.

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Authors: Masatora Daito, Hisashi Kojima

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In this research, the authors analyze network stability using agent-based simulation. Firstly, the authors focus on analyzing large networks (eight agents) by connecting different two stable small social networks (A small stable network is consisted on four agents.). Secondly, the authors analyze the network (eight agents) shape which is added one agent to a stable network (seven agents). Thirdly, the authors analyze interpersonal comparison of utility. The “star-network "was not found on the result of interaction among stable two small networks. On the other hand, “decentralized network" was formed from several combination. In case of added one agent to a stable network (seven agents), if the value of “c"(maintenance cost of per a link) was larger, the number of patterns of stable network was also larger. In this case, the authors identified the characteristics of a large stable network. The authors discovered the cases of decreasing personal utility under condition increasing total utility.

Keywords: Social Network, Symmetric Situation, Network Stability, Agent-Based Modeling.

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Authors: M. Brahim, I. Bahri, Y. Bernard

Abstract:

Traveling Wave Ultrasonic Motor (TWUM) is a compact, precise, and silent actuator generating high torque at low speed without gears. Moreover, the TWUM has a high holding torque without supply, which makes this motor as an attractive solution for holding position of robotic arms. However, their nonlinear dynamics, and the presence of load-dependent dead zones often limit their use. Those issues can be overcome in closed loop with effective and precise controllers. In this paper, robust H-infinity (H∞) and discrete time RST position controllers are presented. The H∞ controller is designed in continuous time with additional weighting filters to ensure the robustness in the case of uncertain motor model and external disturbances. Robust RST controller based on the pole placement method is also designed and compared to the H∞. Simulink model of TWUM is used to validate the stability and the robustness of the two proposed controllers.

Keywords: Piezoelectric motors, position control, H∞, RST, stability criteria, robustness.

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Authors: Sidhartha Panda, N. P. Padhy

Abstract:

Power system stabilizers (PSS) are now routinely used in the industry to damp out power system oscillations. In this paper, particle swarm optimization (PSO) technique is applied to design a robust power system stabilizer (PSS). The design problem of the proposed controller is formulated as an optimization problem and PSO is employed to search for optimal controller parameters. By minimizing the time-domain based objective function, in which the deviation in the oscillatory rotor speed of the generator is involved; stability performance of the system is improved. The non-linear simulation results are presented under wide range of operating conditions; disturbances at different locations as well as for various fault clearing sequences to show the effectiveness and robustness of the proposed controller and their ability to provide efficient damping of low frequency oscillations. Further, all the simulations results are compared with a conventionally designed power system stabilizer to show the superiority of the proposed design approach.

Keywords: Particle swarm optimization, power system stabilizer, low frequency oscillations, power system stability.

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Authors: D. Sarkar, M. Pal, A. K. Sarkar

Abstract:

Asphaltic concrete for pavement construction in India are produced by using crushed stone, gravels etc. as aggregate. In north-Eastern region of India, there is a scarcity of stone aggregate. Therefore the road engineers are always in search of an optional material as aggregate which can replace the regularly used material. The purpose of this work was to evaluate the utilization of substandard or marginal aggregates in flexible pavement construction. The investigation was undertaken to evaluate the effects of using lower quality aggregates such as over burnt brick aggregate on the preparation of asphalt concrete for flexible pavements. The scope of this work included a review of available literature and existing data, a laboratory evaluation organized to determine the effects of marginal aggregates and potential techniques to upgrade these substandard materials, and a laboratory evaluation of these upgraded marginal aggregate asphalt mixtures. Over burnt brick aggregates are water susceptible and can leads to moisture damage. Moisture damage is the progressive loss of functionality of the material owing to loss of the adhesion bond between the asphalt binder and the aggregate surface. Hence zycosoil as an anti striping additive were evaluated in this study. This study summarizes the results of the laboratory evaluation carried out to investigate the properties of asphalt concrete prepared with zycosoil modified over burnt brick aggregate. Marshall specimen were prepared with stone aggregate, zycosoil modified stone aggregate, over burnt brick aggregate and zycosoil modified over burnt brick aggregate. Results show that addition of zycosoil with stone aggregate increased stability by 6% and addition of zycosoil with over burnt brick aggregate increased stability by 30%.

Keywords: Asphalt Concrete, Over Burnt Brick Aggregate, Marshall Stability, Zycosoil.

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Authors: Tomoaki Hashimoto

Abstract:

Recent technological advance has prompted significant interest in developing the control theory of quantum systems. Following the increasing interest in the control of quantum dynamics, this paper examines the control problem of Schrödinger equation because quantum dynamics is basically governed by Schrödinger equation. From the practical point of view, stochastic disturbances cannot be avoided in the implementation of control method for quantum systems. Thus, we consider here the robust stabilization problem of Schrödinger equation against stochastic disturbances. In this paper, we adopt model predictive control method in which control performance over a finite future is optimized with a performance index that has a moving initial and terminal time. The objective of this study is to derive the stability criterion for model predictive control of Schrödinger equation under stochastic disturbances.

Keywords: Optimal control, stochastic systems, quantum systems, stabilization.

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Authors: Ornst J., Voracek J., Allouache A., Allouache D.

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Lack of resources for road infrastructure financing is a problem that currently affects not only eastern European economies but also many other countries especially in relation to the impact of global financial crisis. In this context, we are talking about the socalled short-investment problem as a result of long-term lack of investment resources. Based on an analysis of road infrastructure financing in the Czech Republic this article points out at weaknesses of current system and proposes a long-term planning methodology supported by system approach. Within this methodology and using created system dynamic model the article predicts the development of short-investment problem in the Country and in reaction on the downward trend of certain sources the article presents various scenarios resulting from the change of the structure of financial sources. In the discussion the article focuses more closely on the possibility of introduction of tax on vehicles instead of taxes with declining revenue streams and estimates its approximate price in relation to reaching various solutions of short-investment in time.

Keywords: Road financing, road infrastructure development, system dynamics

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Authors: A. Fogliata, L. Martiniello, A. Ambretti

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The significance of balance and stability in physical education among adolescents is well-established. This study aims to assess the efficacy of centering, which employs intra-abdominal pressure (IAP) in line with the Sincrony Method, in optimizing balance and reducing perceived stress. A 6-week intervention was conducted on a sample of adolescents, divided into a control group and an experimental group that incorporated the centering into their physical education program. The Stork Balance Test and the Perceived Stress Scale (PSS) were used to measure changes. Findings revealed a significant enhancement in the balance of both the dominant and non-dominant limbs in the experimental group compared to the control group. Moreover, the PSS test indicated a reduction in perceived stress within the experimental group. Integrating the centering technique into physical education programs can lead to substantial improvements in adolescents' balance and stability, in addition to a reduction in perceived stress levels. These findings suggest the need for further research on broader populations to solidify these pivotal outcomes.

Keywords: Adolescents, physical education, balance, centering, intra-abdominal pressure.

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Authors: F. Caliskan

Abstract:

This paper presents a Neural Network (NN) identification of icing parameters in an A340 aircraft and a reconfiguration technique to keep the A/C performance close to the performance prior to icing. Five aircraft parameters are assumed to be considerably affected by icing. The off-line training for identifying the clear and iced dynamics is based on the Levenberg-Marquard Backpropagation algorithm. The icing parameters are located in the system matrix. The physical locations of the icing are assumed at the right and left wings. The reconfiguration is based on the technique known as the control mixer approach or pseudo inverse technique. This technique generates the new control input vector such that the A/C dynamics is not much affected by icing. In the simulations, the longitudinal and lateral dynamics of an Airbus A340 aircraft model are considered, and the stability derivatives affected by icing are identified. The simulation results show the successful NN identification of the icing parameters and the reconfigured flight dynamics having the similar performance before the icing. In other words, the destabilizing icing affect is compensated.

Keywords: Aircraft Icing, Stability Derivatives, Neural NetworkIdentification, Reconfiguration.

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Authors: Abdolreza Roozbeh, Reza Sedaghati, Ali Asghar Baziar, Mohammad Reza Tabatabaei

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This paper presents dynamic models of distributed generators (DG) and investigates dynamic behavior of the DG units in the micro grid system. The DG units include photovoltaic and fuel cell sources. The voltage source inverter is adopted since the electronic interface which can be equipped with its controller to keep stability of the micro grid during small signal dynamics. This paper also introduces power management strategies and implements the DG load sharing concept to keep the micro grid operation in gridconnected and islanding modes of operation. The results demonstrate the operation and performance of the photovoltaic and fuel cell as distributed generators in a micro grid. The entire control system in the micro grid is developed by combining the benefits of the power control and the voltage control strategies. Simulation results are all reported, confirming the validity of the proposed control technique.

Keywords: Stability, Distributed Generation, Dynamic, Micro Grid.

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Authors: Mehrdad N. Khajavi , Golamhassan Paygane, Ali Hakima

Abstract:

Vehicle which are turning or maneuvering at high speeds are susceptible to sliding and subsequently deviate from desired path. In this paper the dynamics governing the Yaw/Roll behavior of a vehicle has been simulated. Two different simulations have been used one for the real vehicle, for which a fuzzy controller is designed to increase its directional stability property. The other simulation is for a hypothetical vehicle with much higher tire cornering stiffness which is capable of developing the required lateral forces at the tire-ground patch contact to attain the desired lateral acceleration for the vehicle to follow the desired path without slippage. This simulation model is our reference model. The logic for keeping the vehicle on the desired track in the cornering or maneuvering state is to have some braking forces on the inner or outer tires based on the direction of vehicle deviation from the desired path. The inputs to our vehicle simulation model is steer angle δ and vehicle velocity V , and the outputs can be any kinematical parameters like yaw rate, yaw acceleration, side slip angle, rate of side slip angle and so on. The proposed fuzzy controller is a feed forward controller. This controller has two inputs which are steer angle δ and vehicle velocity V, and the output of the controller is the correcting moment M, which guides the vehicle back to the desired track. To develop the membership functions for the controller inputs and output and the fuzzy rules, the vehicle simulation has been run for 1000 times and the correcting moment have been determined by trial and error. Results of the vehicle simulation with fuzzy controller are very promising and show the vehicle performance is enhanced greatly over the vehicle without the controller. In fact the vehicle performance with the controller is very near the performance of the reference ideal model.

Keywords: Vehicle, Directional Stability, Fuzzy Logic Controller, ANFIS..

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Authors: Jung-hoon Lee, Eung Tai Kim, Byung-hee Chang, In-hee Hwang, Dae-sung Lee

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The accuracy of estimated stability and control derivatives of a light aircraft from flight test data were evaluated. The light aircraft, named ChangGong-91, is the first certified aircraft from the Korean government. The output error method, which is a maximum likelihood estimation technique and considers measurement noise only, was used to analyze the aircraft responses measures. The multi-step control inputs were applied in order to excite the short period mode for the longitudinal and Dutch-roll mode for the lateral-directional motion. The estimated stability/control derivatives of Chan Gong-91 were analyzed for the assessment of handling qualities comparing them with those of similar aircraft. The accuracy of the flight derivative estimates derived from flight test measurement was examined in engineering judgment, scatter and Cramer-Rao bound, which turned out to be satisfactory with minor defects..

Keywords: Light Aircraft, Flight Test, Accuracy, Engineering Judgment, Scatter, Cramer-Rao Bound

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Authors: Seyed Mohammad Nasir Mousavi, Pasha Hejazi, Maryam Ebrahimian Dehkordi

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In order to study the Mutual effect of genotype × environment for the percent of oil index in sunflower items, an experiment was accomplished form complete random block designs in four iteration and was four diverse researching station comprising Esfahan, Birjand, Sari, and Karaj. Complex variance analysis showed that there is an important diversity between the items under investigation. The results relevant the coefficient variation of items Azargol and Vidoc has respectively allocated the minimum coefficient of variations. According to the results extrapolated from Shokla stability variance, the Items Brocar, Allison and Fabiola, are among the stable genotypes for oil percent respectively. In the biplot GGE, the location under investigations divided in two superenvironments, first one comprised of locations naming Esfahan, Karaj, and Birjand, and second one were such a location as Sari. By this point of view, in the first super-environment, the Item Fabiola and in the second Almanzor item was among the best items and crops.

Keywords: Sunflower, Stability, GGE biplot, Super- Environment.

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Authors: Boguslaw Schreyer

Abstract:

The paper investigates the application of the Kohonen’s Self-Organizing Map (SOM) to the wheeled robot starting and braking dynamic states. In securing wheeled robot stability as well as minimum starting and braking time, it is important to ensure correct torque distribution as well as proper slope of braking and driving moments. In this paper, a correct movement distribution has been formulated, securing optimum adhesion coefficient and good transversal stability of a wheeled robot. A neural tuner has been proposed to secure the above properties, although most of the attention is attached to the SOM network application. If the delay of the torque application or torque release is not negligible, it is important to change the rising and falling slopes of the torque. The road/surface condition is also paramount in robot dynamic states control. As the road conditions may randomly change in time, application of the SOM network has been suggested in order to classify the actual road conditions.

Keywords: SOM network, torque distribution, torque slope, wheeled robots.

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Authors: Edward C. W. Chan, Benny C. F. Cheung

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In the knowledge economy, the financial indicator is not the unique instrument to gauge the performance of a company. The role of intellectual capital contributing to the company performance is increasing. To measure the company performance due to intellectual capital, the value-added intellectual capital (VAIC) model is adopted to measure the intellectual capital utilization efficiency of the subject companies. The purpose of this study is to review the readiness of measuring intellectual capital for the Hong Kong listed companies in the property development and property investment industry by using VAIC model. This study covers the financial reports from the representative Hong Kong listed property development companies and property investment companies in the period 2014-2019. The findings from this study indicated the industry is ready for IC measurement employing VAIC framework but not yet ready for using the extended VAIC model.

Keywords: Intellectual capital, intellectual capital measurement, property development, property investment, Skandia Navigator, VAIC.

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Authors: Chrysoula Karathanasi, Senad Karavdic, Angela Odero, Michèle Baumann

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It is not only the economic determinants that impact on life conditions, but maintaining a good level of life satisfaction (LS) may also be an important challenge currently. In Luxembourg, university students receive financial aid from the government. They are then registered at the Centre for Documentation and Information on Higher Education (CEDIES). Luxembourg is built on migration with almost half its population consisting of foreigners. It is upon this basis that our research aims to analyze the associations with mental health factors (health satisfaction, psychological quality of life, worry), perceived financial situation, career attitudes (adaptability, optimism, knowledge, planning) and LS, for non-Luxembourgish and native postgraduate students. Between 2012 and 2013, postgraduates registered at CEDIES were contacted by post and asked to participate in an online survey with either the option of English or French. The study population comprised of 644 respondents. Our statistical analysis excluded: those born abroad who had Luxembourgish citizenship, or those born in Luxembourg who did not have citizenship. Two groups were formed one consisting 147 non-Luxembourgish and the other 284 natives. A single item measured LS (1=not at all satisfied to 10=very satisfied). Bivariate tests, correlations and multiple linear regression models were used in which only significant relationships (p<0.05) were integrated. Among the two groups no differences were found between LS indicators (7.8/10 non-Luxembourgish; 8.0/10 natives) as both were higher than the European indicator of 7.2/10 (for 25-34 years). In the case of non-Luxembourgish students, they were older than natives (29.3 years vs. 26.3 years) perceived their financial situation as more difficult, and a higher percentage of their parents had an education level higher than a Bachelor's degree (father 59.2% vs 44.6% for natives; mother 51.4% vs 33.7% for natives). In addition, the father’s education was related to the LS of postgraduates and the higher was the score, the greater was the contribution to LS. Whereas for native students, when their scores of health satisfaction and career optimism were higher, their LS’ score was higher. For both groups their LS was linked to mental health-related factors, perception of their financial situation, career optimism, adaptability and planning. The higher the psychological quality of life score was, the greater the LS of postgraduates’ was. Good health and positive attitudes related to the job market enhanced their LS indicator.

Keywords: Career attitudes, fathers’ education level, life satisfaction, mental health.

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Authors: Milan Rippel, Petr Teply

Abstract:

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: Suffian H. Ayub, Mohammed R. Hamzah, Nor H. Abdullah, Sharipah N. Syed Azmy, Hishammudin S.

Abstract:

The liberalisation of the education industry has exposed the institute of higher learning (IHL) in Malaysia to the financial challenges. Without good financial standing, public institution will rely on the government funding. Ostensibly, this contradicts with the government’s aspiration to make universities self-sufficient. With stiff competition from private institutes of higher learning, IHL need to be prepared at the forefront level. The corporate identity itself is the entrance to the world of higher learning and it is in this uniqueness, it will be able to distinguish itself from competitors. This paper examined the perception of the stakeholders at one of the public universities in the east coast region in Malaysia on the perceived reputation and how the university communicate its preparedness for self-sustainability through corporate identity. The findings indicated while the stakeholders embraced the challenges in facing the stiff competition and struggling market conditions, most of them felt the university should put more efforts in mobilising the corporate identity to its constituencies.

Keywords: Communication, corporate identity, market conditions, universities.

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