Search results for: Prediction of financial markets

Authors: Paria Soleimani, Arezoo Neshati

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Myocardial infarction is one of the leading causes of death in the world. Some of these deaths occur even before the patient reaches the hospital. Myocardial infarction occurs as a result of impaired blood supply. Because the most of these deaths are due to coronary artery disease, hence the awareness of the warning signs of a heart attack is essential. Some heart attacks are sudden and intense, but most of them start slowly, with mild pain or discomfort, then early detection and successful treatment of these symptoms is vital to save them. Therefore, importance and usefulness of a system designing to assist physicians in early diagnosis of the acute heart attacks is obvious. The main purpose of this study would be to enable patients to become better informed about their condition and to encourage them to seek professional care at an earlier stage in the appropriate situations. For this purpose, the data were collected on 711 heart patients in Iran hospitals. 28 attributes of clinical factors can be reported by patients; were studied. Three logistic regression models were made on the basis of the 28 features to predict the risk of heart attacks. The best logistic regression model in terms of performance had a C-index of 0.955 and with an accuracy of 94.9%. The variables, severe chest pain, back pain, cold sweats, shortness of breath, nausea and vomiting, were selected as the main features.

Keywords: Coronary heart disease, acute heart attacks, prediction, logistic regression.

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Authors: Iqbal Hossain, Monzur Alam Imteaz, Mohammed Iqbal Hossain

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Estimation of stormwater pollutants is a pre-requisite for the protection and improvement of the aquatic environment and for appropriate management options. The usual practice for the stormwater quality prediction is performed through water quality modeling. However, the accuracy of the prediction by the models depends on the proper estimation of model parameters. This paper presents the estimation of model parameters for a catchment water quality model developed for the continuous simulation of stormwater pollutants from a catchment to the catchment outlet. The model is capable of simulating the accumulation and transportation of the stormwater pollutants; suspended solids (SS), total nitrogen (TN) and total phosphorus (TP) from a particular catchment. Rainfall and water quality data were collected for the Hotham Creek Catchment (HTCC), Gold Coast, Australia. Runoff calculations from the developed model were compared with the calculated discharges from the widely used hydrological models, WBNM and DRAINS. Based on the measured water quality data, model water quality parameters were calibrated for the above-mentioned catchment. The calibrated parameters are expected to be helpful for the best management practices (BMPs) of the region. Sensitivity analyses of the estimated parameters were performed to assess the impacts of the model parameters on overall model estimations of runoff water quality.

Keywords: Calibration, Model Parameters, Suspended Solids, TotalNitrogen, Total Phosphorus.

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Authors: Madhuri Bhavsar, Anupam K Singh, Shrikant Pradhan

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Long term rainfall analysis and prediction is a challenging task especially in the modern world where the impact of global warming is creating complications in environmental issues. These factors which are data intensive require high performance computational modeling for accurate prediction. This research paper describes a prototype which is designed and developed on grid environment using a number of coupled software infrastructural building blocks. This grid enabled system provides the demanding computational power, efficiency, resources, user-friendly interface, secured job submission and high throughput. The results obtained using sequential execution and grid enabled execution shows that computational performance has enhanced among 36% to 75%, for decade of climate parameters. Large variation in performance can be attributed to varying degree of computational resources available for job execution. Grid Computing enables the dynamic runtime selection, sharing and aggregation of distributed and autonomous resources which plays an important role not only in business, but also in scientific implications and social surroundings. This research paper attempts to explore the grid enabled computing capabilities on weather indices from HOAPS data for climate impact modeling and change detection.

Keywords: Climate model, Computational Grid, GridApplication, Heterogeneous Grid

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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: Jana Gutierrez Chvalkovská, Michal Mejstřík, Matěj Urban

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There are pending discussions over the mapping of country export potential in order to refocus export strategy of firms and its evidence-based promotion by the Export Credit Agencies (ECAs) and other permitted vehicles of governments. In this paper we develop our version of an applied model that offers “stepwise” elimination of unattractive markets. We modify and calibrate the model for the particular features of the Czech Republic and specific pilot cases where we apply an individual approach to each sector.

Keywords: Export strategy, Modeling export, Calibration, Export promotion.

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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

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

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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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Authors: Chen Zhang, Jiwu Wang

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With China's urbanization continuing to accelerate, a amount of rural people flood into China's cities in recent years, and the issue of agriculture, rural areas and farmers is getting more and more serious. In 2005, the Chinese government put forward a plan for “the construction of new rural village", in order to coordinate the development of both urban and rural areas. The planning method of rural region differs sharply from that of urban areas, as same as village social structure and habits of farmer-s life, so the studies which can consider the special needs of village construction in China are absolutely essential. This paper expresses explore current situation and problems existing in the construction of China-s new rural village, such as bigger gap between urban and rural areas, excessive new construction projects, extinct traditional village style and so on. It tries to analyze the deep reason of the present situation of the village from law system, industrial structure, financial sources and planning method. Then it also provides a guide for developing policies and procedures promoting the development of china-s rural areas.

Keywords: Rural areas, village construction, physical planning, law system, financial sources, Public participation, China.

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Authors: Pisut Painmanakul, Kotchakorn Kongkangwarn, Nattawin Chawaloesphonsiya

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The coalescer process is one of the methods for oily water treatment by increasing the oil droplet size in order to enhance the separating velocity and thus effective separation. However, the presence of surfactants in an oily emulsion can limit the obtained mechanisms due to the small oil size related with stabilized emulsion. In this regard, the purpose of this research is to improve the efficiency of the coalescer process for treating the stabilized emulsion. The effects of bed types, bed height, liquid flow rate and stage coalescer (step-bed) on the treatment efficiencies in term of COD values were studied. Note that the treatment efficiency obtained experimentally was estimated by using the COD values and oil droplet size distribution. The study has shown that the plastic media has more effective to attach with oil particles than the stainless one due to their hydrophobic properties. Furthermore, the suitable bed height (3.5 cm) and step bed (3.5 cm with 2 steps) were necessary in order to well obtain the coalescer performance. The application of step bed coalescer process in reactor has provided the higher treatment efficiencies in term of COD removal than those obtained with classical process. The proposed model for predicting the area under curve and thus treatment efficiency, based on the single collector efficiency (ηT) and the attachment efficiency (α), provides relatively a good coincidence between the experimental and predicted values of treatment efficiencies in this study.

Keywords: Stage coalescer, stabilized emulsions, treatment efficiency, model prediction.

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Authors: Francisco Javier Reyes Salazar, Héctor Mauricio Ramírez

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The coastal zones are home to mangrove swamps, coral reefs, and seagrass ecosystems, which are the most biodiverse and fragile on the planet. These areas support a great diversity of marine life; they are also extraordinarily important for humans in the provision of food, water, wood, and other associated goods and services; they also contribute to climate regulation. The lack of an automated model that generates information on the dynamics of changes in coastlines and coastal erosion is identified as a central problem. In this paper, coastlines were determined from 1984 to 2020 on the Google Earth Engine platform from Landsat and Sentinel images. Then, we determined the Modified Normalized Difference Water Index (MNDWI) and used Digital Shoreline Analysis System (DSAS) v5.0. Starting from the 2020 coastline; the 10-year prediction (Year 2031) was determined with the erosion of 238.32 hectares and an accretion of 181.96 hectares. For the 20-year prediction (Year 2041) will be presented an erosion of 544.04 hectares and an accretion of 133.94 hectares. The erosion and accretion of Playa Muelle in the municipality of Puerto Colombia were established, which will register the highest value of erosion. The coverage that presented the greatest change was that of artificialized territories.

Keywords: Coastline, coastal erosion, MNDWI, Google Earth Engine, Colombia.

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Authors: Swapnoneel Roy, Minhazur Rahman, Ashok Kumar Thakur

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Bioinformatics and computational biology involve the use of techniques including applied mathematics, informatics, statistics, computer science, artificial intelligence, chemistry, and biochemistry to solve biological problems usually on the molecular level. Research in computational biology often overlaps with systems biology. Major research efforts in the field include sequence alignment, gene finding, genome assembly, protein structure alignment, protein structure prediction, prediction of gene expression and proteinprotein interactions, and the modeling of evolution. Various global rearrangements of permutations, such as reversals and transpositions,have recently become of interest because of their applications in computational molecular biology. A reversal is an operation that reverses the order of a substring of a permutation. A transposition is an operation that swaps two adjacent substrings of a permutation. The problem of determining the smallest number of reversals required to transform a given permutation into the identity permutation is called sorting by reversals. Similar problems can be defined for transpositions and other global rearrangements. In this work we perform a study about some genome rearrangement primitives. We show how a genome is modelled by a permutation, introduce some of the existing primitives and the lower and upper bounds on them. We then provide a comparison of the introduced primitives.

Keywords: Sorting Primitives, Genome Rearrangements, Transpositions, Block Interchanges, Strip Exchanges.

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Authors: Dennis Gossmann, Habil Peter Nyhuis

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Amongst the consistently fluctuating conditions prevailing today, changeability represents a strategic key factor for a manufacturing company to achieve success on the international markets. In order to cope with turbulences and the increasing level of incalculability, not only the flexible design of production systems but in particular the employee as enabler of change provide the focus here. It is important to enable employees from manufacturing companies to participate actively in change events and in change decisions. To this end, the learning factory has been created, which is intended to serve the development of change-promoting competences and the sensitization of employees for the necessity of changes.

Keywords: Changeability, human resources, learning factory.

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Authors: Vinod Kumar, Surjit Angra

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The objective of this theoretical study is to develop simple design formulas for the prediction of minimum film thickness and maximum mean film temperature rise in lightly loaded high-speed rolling/sliding lubricated elliptical contacts incorporating starvation effect. Herein, the reported numerical analysis focuses on thermoelastohydrodynamically lubricated rolling/sliding elliptical contacts, considering the Newtonian rheology of lubricant for wide range of operating parameters, namely load characterized by Hertzian pressure (PH = 0.01 GPa to 0.10 GPa), rolling speed (>10 m/s), slip parameter (S varies up to 1.0), and ellipticity ratio (k = 1 to 5). Starvation is simulated by systematically reducing the inlet supply. This analysis reveals that influences of load, rolling speed, and level of starvation are significant on the minimum film thickness. However, the maximum mean film temperature rise is strongly influenced by slip in addition to load, rolling speed, and level of starvation. In the presence of starvation, reduction in minimum film thickness and increase in maximum mean film temperature are observed. Based on the results of this study, empirical relations are developed for the prediction of dimensionless minimum film thickness and dimensionless maximum mean film temperature rise at the contacts in terms of various operating parameters.

Keywords: Starvation, lubrication, elliptical contact, traction, minimum film thickness.

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Authors: M. Tarawneh

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Two-phase frictional pressure drop data were obtained for condensation of carbon dioxide in single horizontal micro tube of inner diameter ranged from 0.6 mm up to 1.6 mm over mass flow rates from 2.5*10-5 to 17*10-5 kg/s and vapor qualities from 0.0 to 1.0. The inlet condensing pressure is changed from 33.5 to 45 bars. The saturation temperature ranged from -1.5 oC up to 10 oC. These data have then been compared against three (two-phase) frictional pressure drop prediction methods. The first method is by Muller-Steinhagen and Heck (Muller-Steinhagen H, Heck K. A simple friction pressure drop correlation for two-phase flow in pipes. Chem. Eng. Process 1986;20:297–308) and that by Gronnerud R. Investigation of liquid hold-up, flow-resistance and heat transfer in circulation type evaporators, part IV: two-phase flow resistance in boiling refrigerants, Annexe 1972. Then the method used by FriedelL. Improved friction pressures drop in horizontal and vertical two-phase pipe flow. European Two-Phase Flow Group Meeting, Paper E2; 1979 June, Ispra, Italy. The methods are used by M.B Ould Didi et al (2001) “Prediction of two-phase pressure gradients of refrigerant in horizontal tubes". Int.J.of Refrigeration 25(2002) 935- 947. The best available method for annular flow was that of Muller- Steinhagen and Heck. It was observed that the peak in the two-phase frictional pressure gradient is at high vapor qualities.

Keywords: Two-phase flow, frictional pressure drop, horizontalmicro tube, carbon dioxide, condensers.

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Authors: Reza Dinarvand, Mahdi Sadeghian, Somaye Sadeghian

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Prediction of the ultimate bearing capacity of piles (Qu) is one of the basic issues in geotechnical engineering. So far, several methods have been used to estimate Qu, including the recently developed artificial intelligence methods. In recent years, optimization algorithms have been used to minimize artificial network errors, such as colony algorithms, genetic algorithms, imperialist competitive algorithms, and so on. In the present research, artificial neural networks based on colonial competition algorithm (ANN-ICA) were used, and their results were compared with other methods. The results of laboratory tests of short piles in clayey soils with parameters such as pile diameter, pile buried length, eccentricity of load and undrained shear resistance of soil were used for modeling and evaluation. The results showed that ICA-based artificial neural networks predicted lateral bearing capacity of short piles with a correlation coefficient of 0.9865 for training data and 0.975 for test data. Furthermore, the results of the model indicated the superiority of ICA-based artificial neural networks compared to back-propagation artificial neural networks as well as the Broms and Hansen methods.

Keywords: Lateral bearing capacity, short pile, clayey soil, artificial neural network, Imperialist competition algorithm.

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Authors: Raja Das, M. K. Pradhan

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This paper presents a comparative study between two neural network models namely General Regression Neural Network (GRNN) and Back Propagation Neural Network (BPNN) are used to estimate radial overcut produced during Electrical Discharge Machining (EDM). Four input parameters have been employed: discharge current (Ip), pulse on time (Ton), Duty fraction (Tau) and discharge voltage (V). Recently, artificial intelligence techniques, as it is emerged as an effective tool that could be used to replace time consuming procedures in various scientific or engineering applications, explicitly in prediction and estimation of the complex and nonlinear process. The both networks are trained, and the prediction results are tested with the unseen validation set of the experiment and analysed. It is found that the performance of both the networks are found to be in good agreement with average percentage error less than 11% and the correlation coefficient obtained for the validation data set for GRNN and BPNN is more than 91%. However, it is much faster to train GRNN network than a BPNN and GRNN is often more accurate than BPNN. GRNN requires more memory space to store the model, GRNN features fast learning that does not require an iterative procedure, and highly parallel structure. GRNN networks are slower than multilayer perceptron networks at classifying new cases.

Keywords: Electrical-discharge machining, General Regression Neural Network, Back-propagation Neural Network, Radial Overcut.

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Authors: Mohamed Saad Ahmed Hussien

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This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.

Keywords: Conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management.

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Authors: Pradeep Kulshrestha, Maulana Ayoub Ali

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The level of penetration of Islamic banking products and services has recorded a reasonable growth at an exponential rate in many parts of the world. There are many factors which have contributed to this growth including, but not limited to the rapid growth of number of Muslims who are uncomfortable with the conventional ways of banking, interest and higher interest rates scheduled by conventional banks and financial institutions as well as the financial inclusion campaign conducted in many countries. The system is facing legal challenges which open the research fdoor for practitioners and academicians for the sake of finding out solutions to those challenges. This paper tries to investigate the development of the Islamic banking system in the United Kingdom (UK), Saudi Arabia, Malaysia, Iran, Kenya, Nigeria and Uganda in order to understand the modalities which have been employed to run an Islamic banking system in the aforementioned countries. The methodology which has been employed in doing this research paper is Doctrinal, of which legislations, policies and other legal tools have been carefully studied and analysed. Again, papers from academic journals, books and financial reports have been deeply analysed for the purpose of enriching the paper and come up with a tangible results. The paper found that in Asia, Malaysia has created the smoothest legal platform for Islamic banking system to work properly in the country. The United Kingdom has tried harder to smooth the banking system without affecting the conventional banking methods and without favouring the operations of Islamic banks. It also tries harder to make UK as an Islamic banking and finance hub in Europe. The entire banking system in Iran is Islamic, while Nigeria has undergone several legal reforms to suit Islamic banking system in the country. Kenya and Uganda are at a different pace in making Islamic Banking system work alongside the conventional banking system.  

Keywords: Shariah, Islamic banking, law, alternative banking.

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Authors: Muhammad Naveed, Yang Caixia

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The need for national space legislation is pivotal, particularly in light of the fact that in recent years space activities have grown immensely both in volume and diversity. Countries are progressively developing capabilities in space exploration and scientific discoveries, market their capabilities to manufacture satellites, provide launch services from their facilities and are looking to privatize and commercialize their space resources. Today, nations are also seeking to comprehend the technological and financial potential of the private sector and are considering to share their financial burdens with them and to limit their exposures to risks, but they are lagging behind in legal framework in this regard. In the perspective of these emerging developments, it is therefore, felt that national space legislation should be enacted with the goal of building and implementing a vibrant and transparent legal framework at the national level to hasten investments and to ensure growth in this capital intensive - highly yield strategic sector. This study looks at (I) the international legal framework that governs space activities; (II) motivation behind making national space laws; and (III) the need for national space legislation. The paper concludes with some recommendations with regards to the conceivable future direction for national space legislation, in particular space empowered sub-areas for countries.

Keywords: International conventions, national legislation, space faring nation, space law.

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Authors: Arun Goel

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The present paper attempts to investigate the prediction of air entrainment rate and aeration efficiency of a free overfall jets issuing from a triangular sharp crested weir by using regression based modelling. The empirical equations, Support vector machine (polynomial and radial basis function) models and the linear regression techniques were applied on the triangular sharp crested weirs relating the air entrainment rate and the aeration efficiency to the input parameters namely drop height, discharge, and vertex angle. It was observed that there exists a good agreement between the measured values and the values obtained using empirical equations, Support vector machine (Polynomial and rbf) models and the linear regression techniques. The test results demonstrated that the SVM based (Poly & rbf) model also provided acceptable prediction of the measured values with reasonable accuracy along with empirical equations and linear regression techniques in modelling the air entrainment rate and the aeration efficiency of a free overfall jets issuing from triangular sharp crested weir. Further sensitivity analysis has also been performed to study the impact of input parameter on the output in terms of air entrainment rate and aeration efficiency.

Keywords: Air entrainment rate, dissolved oxygen, regression, SVM, weir.

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Authors: Erik Pontiskoski, Kazuhiro Asakawa

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This is a conceptual paper on the application of open innovation in three case examples of Apple, Nintendo, and Nokia. Utilizing key concepts from research into managerial and organizational cognition, we describe how each company overcame barriers to utilizing open innovation strategy in R&D and commercialization projects. We identify three levels of barriers: cognitive, behavioral, and institutional, and describe the companies balanced between internal and external resources to launch products that were instrumental in companies reinventing themselves in mature markets.

Keywords: managerial cognition, open innovation.

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Authors: Ya Lv

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This article presents the application of the semi-analytic method (SAM) in the thermal management solution (TMS) of the energy storage system (ESS). The TMS studied in this work is fluid cooling. In fluid cooling, both effective heat conduction and heat convection are indispensable due to the heat transfer from solid to fluid. Correspondingly, an efficient TMS requires a design investigation of the following parameters: fluid inlet temperature, ESS initial temperature, fluid flow rate, working c rate, continuous working time, and materials properties. Their variation induces a change of thermal performance in the battery module, which is usually evaluated by numerical simulation. Compared to complicated computation resources and long computation time in simulation, the SAM is developed in this article to predict the thermal influence within a few seconds. In SAM, a fast prediction model is reckoned by combining numerical simulation with theoretical/empirical equations. The SAM can explore the thermal effect of boundary parameters in both steady-state and transient heat transfer scenarios within a short time. Therefore, the SAM developed in this work can simplify the design cycle of TMS and inspire more possibilities in TMS design.

Keywords: Semi-analytic method, fast prediction model, thermal influence of boundary parameters, energy storage system.

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Authors: Patrick O. Bobbie, Prince S. Attrams

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In recent times, the rapid change in new technologies has spurred up the way and manner records are handled in educational institutions. Also, there is a need for reliable access and ease-of use to these records, resulting in increased productivity in organizations. In academic institutions, such benefits help in quality assessments, institutional performance, and assessments of teaching and evaluation methods. Students in educational institutions benefit the most when advanced technologies are deployed in accessing records. This research paper discusses the use of biometric technologies coupled with smartcard technologies to provide a unique way of identifying students and matching their data to financial records to grant them access to restricted areas such as examination halls. The system developed in this paper, has an identity verification component as part of its main functionalities. A systematic software development cycle of analysis, design, coding, testing and support was used. The system provides a secured way of verifying student’s identity and real time verification of financial records. An advanced prototype version of the system has been developed for testing purposes.

Keywords: Biometrics, fingerprints, identity-verification, smartcards.

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Authors: J. Hey, D. A. Howey, R. Martinez-Botas, M. Lamperth

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This paper presents the development of a hybrid thermal model for the EVO Electric AFM 140 Axial Flux Permanent Magnet (AFPM) machine as used in hybrid and electric vehicles. The adopted approach is based on a hybrid lumped parameter and finite difference method. The proposed method divides each motor component into regular elements which are connected together in a thermal resistance network representing all the physical connections in all three dimensions. The element shape and size are chosen according to the component geometry to ensure consistency. The fluid domain is lumped into one region with averaged heat transfer parameters connecting it to the solid domain. Some model parameters are obtained from Computation Fluid Dynamic (CFD) simulation and empirical data. The hybrid thermal model is described by a set of coupled linear first order differential equations which is discretised and solved iteratively to obtain the temperature profile. The computation involved is low and thus the model is suitable for transient temperature predictions. The maximum error in temperature prediction is 3.4% and the mean error is consistently lower than the mean error due to uncertainty in measurements. The details of the model development, temperature predictions and suggestions for design improvements are presented in this paper.

Keywords: Electric vehicle, hybrid thermal model, transient temperature prediction, Axial Flux Permanent Magnet machine.

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Authors: Leandi Steenkamp

Abstract:

The sectional title industry has been a part of the property landscape in South Africa for almost half a century, and plays a significant role in addressing the housing problem in the country. Stakeholders such as owners and investors in sectional title property are in most cases not directly involved in the management thereof, and place reliance on the audited annual financial statements of bodies corporate for decision-making purposes. Although the industry seems to be highly regulated, the legislation regarding accounting and auditing of sectional title is vague and ambiguous. Furthermore, there are no industry-specific auditing and accounting standards to guide accounting and auditing practitioners in performing their work and industry financial benchmarks are not readily available. In addition, financial pressure on sectional title schemes is often very high due to the fact that some owners exercise unrealistic pressure to keep monthly levies as low as possible. All these factors have an impact on the business risk as well as audit risk of bodies corporate. Very little academic research has been undertaken on the sectional title industry in South Africa from an accounting and auditing perspective. The aim of this paper is threefold: Firstly, to discuss the findings of a literature review on uncertainties, ambiguity and confusing aspects in current legislation regarding the audit of a sectional title property that may cause or increase audit and business risk. Secondly, empirical findings of risk-related aspects from the results of interviews with three groups of body corporate role-players will be discussed. The role-players were body corporate trustee chairpersons, body corporate managing agents and accounting and auditing practitioners of bodies corporate. Specific reference will be made to business risk and audit risk. Thirdly, practical recommendations will be made on possibilities of closing the audit expectation gap, and further research opportunities in this regard will be discussed.

Keywords: Assurance, audit, audit risk, body corporate, corporate governance, sectional title.

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Authors: Karolina Patora

Abstract:

This article investigates liquidity risk management by banks, which has gained significant importance since the global financial crisis of 2008. The issue is of particular interest for countries like Poland, in which foreign capital plays a dominant role. Such an ownership structure poses certain risks to the local banking sector, which faces an increased probability of the withdrawal of funding or assets’ transfers abroad in case of a crisis. Both these factors can have a detrimental influence on the liquidity position of foreign-owned banks and hence negatively affect the financial stability of the whole banking sector. The aim of this study is to evaluate the impact of a dominating share of foreign investors in the Polish banking sector on the liquidity position of commercial banks. The study hypothesizes that the ownership structure of the Polish banking sector, in which there are banks predominantly controlled by foreign investors, does not pose a threat to the liquidity position of Polish banks. A supplementary research hypothesis is that the liquidity risk profile of foreign-owned banks differs from that of domestic banks. The sample consists of 14 foreign-owned banks and 5 domestic banks owned by local investors, which together constitute approximately 87% of the banking sector’s assets. The data covers the period of 2004–2014. The results of the regression models show no evidence of significant differences in terms of the dynamics of changes of the liquidity buffers between the foreign-owned and domestic banks, although the signs of the coefficients might suggest that the foreign-owned banks were decreasing the holdings of liquid assets at a slower pace over the examined period, compared to the domestic banks. However, no proof of the statistical significance of these findings has been found. The supplementary research hypothesis that the liquidity risk profile of foreign-controlled banks differs from that of domestic banks was rejected.

Keywords: Financial stability, foreign-owned banks, liquidity position, liquidity risk.

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Authors: O. V. Missioura

Abstract:

MC (Management Control)& IC (Internal Control) – what is the relationship? (an empirical study into the definitions between MC and IC) based on the wider considerations of Internal Control and Management Control terms, attention is focused not only on the financial aspects but also more on the soft aspects of the business, such as culture, behaviour, standards and values. The limited considerations of Management Control are focused mainly in the hard, financial aspects of business operation. The definitions of Management Control and Internal Control are often used interchangeably and the results of this empirical study reveal that Management Control is part of Internal Control, there is no causal link between the two concepts. Based on the interpretation of the respondents, the term Management Control has moved from a broad term to a more limited term with the soft aspects of the influencing of behaviour, performance measurements, incentives and culture. This paper is an exploratory study based on qualitative research and on a qualitative matrix method analysis of the thematic definition of the terms Management Control and Internal Control.

Keywords: Management Control (MC), Internal Control (IC), definition, causal link, COSO 1992/2004, CoCo (Canadian Institute of Chartered Accountants), Russian CG code (КОДЕКС) , limited and broad concepts MC and IC.

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Authors: M. Abou-Amouna, A. Radwan, L. Al-kuwari, A. Hammuda, K. Al-Khalifa

Abstract:

There is growing concern over increasing incidences of road accidents and consequent loss of human life in Qatar. In light to the future planned event in Qatar, World Cup 2022; Qatar should put into consideration the future deaths caused by road accidents, and past trends should be considered to give a reasonable picture of what may happen in the future. Qatar roads should be arranged and paved in a way that accommodate high capacity of the population in that time, since then there will be a huge number of visitors from the world. Qatar should also consider the risk issues of road accidents raised in that period, and plan to maintain high level to safety strategies. According to the increase in the number of road accidents in Qatar from 1995 until 2012, an analysis of elements affecting and causing road accidents will be effectively studied. This paper aims to identify and criticize the factors that have high effect on causing road accidents in the state of Qatar, and predict the total number of road accidents in Qatar 2022. Alternative methods are discussed and the most applicable ones according to the previous researches are selected for further studies. The methods that satisfy the existing case in Qatar were the multiple linear regression model (MLR) and artificial neutral network (ANN). Those methods are analyzed and their findings are compared. We conclude that by using MLR the number of accidents in 2022 will become 355,226 accidents, and by using ANN 216,264 accidents. We conclude that MLR gave better results than ANN because the artificial neutral network doesn’t fit data with large range varieties.

Keywords: Road Safety, Prediction, Accident, Model, Qatar.

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