Search results for: relative importance

Authors: Sanghun Lee

Abstract:

Since the advent of the information era, the Internet has brought various positive effects in everyday life. Nevertheless, recently, problems and side-effects have been noted. Internet witch-trials and spread of pornography are only a few of these problems.In this study, problems and causes of malicious replies on internet boards were analyzed, using the key ideas of game theory. The study provides a mathematical model for the internet reply game to devise three possible plans that could efficiently counteract malicious replies. Furthermore, seven specific measures that comply with one of the three plans were proposed and evaluated according to the importance and utility of each measure using the orthogonal array survey and SPSS conjoint analysis.The conclusion was that the most effective measure would be forbidding unsigned user access to malicious replies. Also notable was that some analytically proposed measures, when implemented, could backfire and encourage malicious replies.

Keywords: Conjoint Analysis, Game Theory, Internet, MaliciousReplies, Prisoner's Dilemma

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Authors: A.K.M. Khaled Ahsan Talukder, Taibun Nessa, Kaushik Roy

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The weight constrained shortest path problem (WCSPP) is one of most several known basic problems in combinatorial optimization. Because of its importance in many areas of applications such as computer science, engineering and operations research, many researchers have extensively studied the WCSPP. This paper mainly concentrates on the reduction of total search space for finding WCSP using some existing Genetic Algorithm (GA). For this purpose, some controlled schemes of genetic operators are adopted on list chromosome representation. This approach gives a near optimum solution with smaller elapsed generation than classical GA technique. From further analysis on the matter, a new generalized schema theorem is also developed from the philosophy of Holland-s theorem.

Keywords: Genetic Algorithm, Evolutionary Optimization, Multi Objective Optimization, Non-linear Schema Theorem, WCSPP.

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Authors: Fabrizio Logiurato

Abstract:

Light Polarization has many technological applications, and its discovery was crucial to reveal the transverse nature of the electromagnetic waves. However, despite its fundamental and practical importance, in high school, this property of light is often neglected. This is a pity not only for its conceptual relevance, but also because polarization gives the possibility to perform many brilliant experiments with low cost materials. Moreover, the treatment of this matter lends very well to an interdisciplinary approach between art, biology and technology, which usually makes things more interesting to students. For these reasons, we have developed, and in this work, we introduce a laboratory on light polarization for high school and undergraduate students. They can see beautiful pictures when birefringent materials are set between two crossed polarizing filters. Pupils are very fascinated and drawn into by what they observe. The colourful images remind them of those ones of abstract painting or alien landscapes. With this multidisciplinary teaching method, students are more engaged and participative, and also, the learning process of the respective physics concepts is more effective.

Keywords: Light polarization, optical activity, multidisciplinary education, science and art.

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Authors: Davoud Beheshtizadeh, Davood Jafari

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Concrete, with its unique properties and advantages, has gained widespread and increasing use in the construction industry, particularly in a country's infrastructure. However, concrete exhibits certain defects, most notably the presence of micro-cracks that occur after the setting process, leading to increased costs for infrastructure repair and maintenance. As a result, self-healing concretes have garnered attention in various countries in recent years. These concretes employ different mechanisms for repair, including physical, chemical, biological, and combined approaches, each with its own subsets and implementation methods. Certain mechanisms hold significant importance, leading to specialized production methods. Given the novelty of this subject in Iran, there is limited knowledge or, in some cases, a complete lack of understanding. This paper presents various self-healing concrete mechanisms and the advantages, disadvantages, and application scope of each method.

Keywords: Micro-cracks, self-healing concrete, microcapsules, concrete, cement, self-sensitive.

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Authors: Grigoris Giannarakis, Despina Galani, Charitoudi Georgia, Nikolaos Litinas

Abstract:

The Corporate Social Responsibility (CSR) performance has garnered significant interest during the last two decades as numerous methodologies are proposed by Social Responsible Investment (SRI) indexes. The weight of each indicator is a crucial component of the CSR measurement procedures. Based on a previous study, the appropriate weight of each proposed indicator for the Greek telecommunication sector is specified using the rank reciprocal weighting. The Kendall-s Coefficient of Concordance and Spearman Correlation Coefficient non-parametric tests are adopted to determine the level of consensus among the experts concerning the importance rank of indicators. The results show that there is no consensus regarding the rank of indicators in most of stakeholders- domains. The equal weight for all indicators could be proposed as a solution for the lack of consensus among the experts. The study recommends three different equations concerning the adopted weight approach.

Keywords: Corporate Social Responsibility, Indicator, Weight.

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Authors: Pavel Adámek

Abstract:

The concept of corporate social responsibility (CSR) in the Czech Republic has evolved notably during the last few years and an issue that started as an interest- and motive-based activity for businesses is becoming more commonplace. Governments have a role to play in ensuring that corporations behave according to the rules and norms of society and can legislate, foster, collaborate with businesses and endorse good practice in order to facilitate the development of CSR. The purpose of this paper is to examine the opportunities and options of CSR in government policy and research its relevance to a business sector. An increasing number of companies is engaging in responsible activities, the public awareness of CSR is rising, and customers are giving higher importance to CSR of companies in their choice. By drawing on existing CSR approach in Czech and understanding of CSR are demonstrated. The paper provides an overview, more detailed government approach of CSR.

Keywords: Approach, corporate social responsibility, government policy, instruments.

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Authors: Maryam Nazari, Majid Karandish, Alihossein Saberi

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Obesity as a global health challenge motivates pharmaceutical industries to produce anti-obesity drugs. However, effectiveness of these agents is remained unclear. Because of popularity of dietary supplements, the aim of this study was tp investigate the effects of Conjugated Linoleic Acid (CLA) and L-carnitine (LC) on serum glucose, triglyceride, cholesterol and weight changes in diet induced obese rats. 48 male Wistar rats were randomly divided into two groups: Normal fat diet (n=8), and High fat diet (HFD) (n=32). After eight weeks, the second group which was maintained on HFD until the end of study, was subdivided into four categories: a) 500 mg Corn Oil (as control group), b) 500 mg CLA, c) 200 mg LC, d) 500 mg CLA+ 200 mg LC.All doses are planned per kg body weights, which were administered by oral gavage for four weeks. Body weights were measured and recorded weekly by means of a digital scale. At the end of the study, blood samples were collected for biochemical markers measurement. SPSS Version 16 was used for statistical analysis. At the end of 8^th week, a significant difference in weight was observed between HFD and NFD group. After 12 weeks, LC significantly reduced weight gain by 4.2%. Trend of weight gain in CLA and CLA+LC groups was insignificantly decelerated. CLA+LC reduced triglyceride level significantly, but just CLA had significant influence on total cholesterol and insignificant decreasing effect on FBS. Our results showed that an obesogenic diet in a relative short time led to obesity and dyslipidemia which can be modified by LC and CLA to some extent.

Keywords: Conjugated linoleic acid, high fat diet, L-carnitine, obesity.

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Authors: D. Karnawati, T.F. Fathani , B. Andayani, Suharto

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This paper highlights the importance of integrating social and technical approach (which is so called a “hybrid socio-technical approach") as one innovative and strategic program to support the social development in geodisaster prone area in Indonesia. Such program mainly based on public education and community participation as a partnership program by the University, local government and may also with the private company and/ or local NGO. The indigenous, simple and low cost technology has also been introduced and developed as a part of the hybrid sociotechnical system, in order to ensure the life and environmental protection, with respect to the sustainable human and social development.

Keywords: Hybrid socio-technical system, indigenoustechnology, life and environmental protection, public education.

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Authors: Marko Čular

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The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyzes transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: Transparency report, Index quality of transparency report, Croatian Audit Act, Code of Ethics for Professional Accountants.

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Authors: Punya Chupanit, Chayatan Phromsorn

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In the past, there were many bridge-s collapses due to lack of bridge structural capacity information. Most of concrete bridge health was relied on information from visual inspection, which sometime was inadequate. This study was conducted in order to investigate relationship between bridge structural condition and bridge visual condition. This study was a part of a big project conducted at Department of Highways of Thailand. In this study, 31 bridges including slab-type bridges, plank-girder bridges, prestressed box-beam bridges, prestressed I-girder bridges and prestressed multibeam bridges were selected for visual inspection and load test. It was found a positive correlation between bridge appearance and bridge-s load carrying capacity. However, statistical characteristic revealed low correlation between them.

Keywords: Bridge, Visual Inspection, Load Test, Condition Rating, Rating Factor

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Authors: S. Pazi, C. Chatwin

Abstract:

ICT services are a key element of communications and important for socio-economic development. In recognition of the importance of this, the Tanzanian Government started to implement a National ICT Broadband Infrastructure Fibre Optic Backbone (NICTBB) in 2009; this development was planned to be implemented in four phases using an optical dense wavelength division multiplexing (DWDM) network technology in collaboration with the Chinese Government through the Chinese International Telecommunications Construction Corporation (CITCC) under a bilateral agreement. This paper briefly explores the NICTBB network technologies implementation, operations and Internet bandwidth costs. It also provides an in depth assessment of the delivery of ICT services such as e-services and m-services in both urban and rural areas following commissioning of the NICTBB system. Following quantitative and qualitative approaches, the study shows that there have been significant improvements in utilization efficiency, effectiveness and the reliability of the ICT service such as e-services and m-services the NICTCBB was commissioned.

Keywords: NICTBB, DWDM, Optic Fibre, Internet, ICT services, e-services, m-services.

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Authors: M’hamed Outanoute, Mohamed Baslam, Belaid Bouikhalene

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The customers use the best compromise criterion between price and quality of service (QoS) to select or change their Service Provider (SP). The SPs share the same market and are competing to attract more customers to gain more profit. Due to the divergence of SPs interests, we believe that this situation is a non-cooperative game of price and QoS. The game converges to an equilibrium position known Nash Equilibrium (NE). In this work, we formulate a game theoretic framework for the dynamical behaviors of SPs. We use Genetic Algorithms (GAs) to find the price and QoS strategies that maximize the profit for each SP and illustrate the corresponding strategy in NE. In order to quantify how this NE point is performant, we perform a detailed analysis of the price of anarchy induced by the NE solution. Finally, we provide an extensive numerical study to point out the importance of considering price and QoS as a joint decision parameter.

Keywords: Pricing, QoS, Market share game, Genetic algorithms, Nash equilibrium, Learning, Price of anarchy.

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Authors: Labar Hocine, Rekik Badri, Bounaya Kamel, Kelaiaia Mounia Samira

Abstract:

Diagnostic goal of transformers in service is to detect the winding or the core in fault. Transformers are valuable equipment which makes a major contribution to the supply security of a power system. Consequently, it is of great importance to minimize the frequency and duration of unwanted outages of power transformers. So, Frequency Response Analysis (FRA) is found to be a useful tool for reliable detection of incipient mechanical fault in a transformer, by finding winding or core defects. The authors propose as first part of this article, the coupled circuits method, because, it gives most possible exhaustive modelling of transformers. And as second part of this work, the application of FRA in low frequency in order to improve and simplify the response reading. This study can be useful as a base data for the other transformers of the same categories intended for distribution grid.

Keywords: Diagnostic, Coupled Circuit Method, FRA, Transformer Faults

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Authors: Şemsettin Şahin, Ahmet Oğuz Aktürk, İsmail Çelik

Abstract:

This study investigated the views of teachers, students and their parents on the FATIH (Movement of Enhancing Opportunities and Improving Technology) Project, which was put into service by the Ministry of National Education in cooperation with the Ministry of Transportation in Turkey in November 2010 for the purpose of increasing students’ success and planned to be completed within 5 years. The study group consisted of teachers employed in a pilot school in the province of Karaman in central Turkey included within the scope of the FATIH Project, students attending this school and parents whose children are students in that school. The research data were collected through forms developed by the researchers to determine the views of teachers, students and parents on the FATIH Project. The descriptive analysis method, one of the qualitative research methods, was used in the study. An analysis of the data revealed that a large majority of the teachers and the students believed that if computers were used to serve their set purpose, then they could make considerable contributions to education. A large majority of the parents, on the other hand, regard the use of computers in education as a great opportunity for the students. The views of the teachers, students and parents on the FATIH Project usually overlap. Most of the participants in the study pointed out that the FATIH Project was intended to use technology effectively in education. Moreover, each individual participant described their role in the FATIH Project in accordance with their relative position and stated that they could perform whatever was expected of them for the effective and efficient use and progress of the Project. The views of the participants regarding the FATIH Project vary according to the kind of the participants.

Keywords: Education, FATIH Project, technology.

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Authors: Yannan Wu, An Chen, Yan Zhao

Abstract:

Termination Mechanism is an indispensible part of the emergency management mechanism. Despite of its importance in both theory and practice, it is almost a brand new field for researching. The concept of termination mechanism is proposed firstly in this paper, and the design and implementation which are helpful to guarantee the effect and integrity of emergency management are discussed secondly. Starting with introduction of the problems caused by absent termination and incorrect termination, the essence of termination mechanism is analyzed, a model based on Optimal Stopping Theory is constructed and the termination index is given. The model could be applied to find the best termination time point.. Termination decision should not only be concerned in termination stage, but also in the whole emergency management process, which makes it a dynamic decision making process. Besides, the main subjects and the procedure of termination are illustrated after the termination time point is given. Some future works are discussed lastly.

Keywords: Emergency management, Termination Mechanism, Optimal Termination Model, Decision Making, Optimal StoppingTheory.

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Authors: Juha Kettunen

Abstract:

This study analyzes the quality and the size of the strategic network of higher education institutions. The study analyses the concept of fitness for purpose in quality assurance. It also analyses the transaction costs of networking that have consequences on the number of members in the network. Empirical evidence is presented of the Consortium on Applied Research and Professional Education, which is a European strategic network of six higher education institutions. The results of the study support the argument that the number of members in the strategic network should be relatively small to provide high quality results. The practical importance is that networking has been able to promote international research and development projects. The results of this study are important for those who want to design and improve international networks in higher education.

Keywords: Higher education, network, research and development, strategic management.

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Authors: Maria E. Eggink

Abstract:

It is the aim of this paper to place the role of innovation in economic development in its theoretical context through a literature review. The review compares classical economic theory and the neoclassical theories of “equilibrium in the markets” and “perfectly competitive markets” with the Schumpeterian theory. It was found that Schumpeter’s role in contributing towards economic development theories, and by creating awareness of the role of innovation in these theories is of immeasurable importance. His contribution led to a change in economic thinking, although this was only realized much later than when his theories were first published. The neo-Schumpeterian thinking expanded on the Schumpeterian theory by studying innovation within a system of interaction among different role players. Studies on innovation should be founded in the neo-Schumpeterian school of thought in order to accommodate the complexity of the innovation system concept.

Keywords: Economic development, evolutionary economics, innovation, Schumpeter.

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Authors: Chan Weng Howe, Mohd Saberi Mohamad

Abstract:

Protein residue contact map is a compact representation of secondary structure of protein. Due to the information hold in the contact map, attentions from researchers in related field were drawn and plenty of works have been done throughout the past decade. Artificial intelligence approaches have been widely adapted in related works such as neural networks, genetic programming, and Hidden Markov model as well as support vector machine. However, the performance of the prediction was not generalized which probably depends on the data used to train and generate the prediction model. This situation shown the importance of the features or information used in affecting the prediction performance. In this research, support vector machine was used to predict protein residue contact map on different combination of features in order to show and analyze the effectiveness of the features.

Keywords: contact map, protein residue contact, support vector machine, protein structure prediction

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Authors: Bella Llego

Abstract:

The purpose of this research is: a) to investigate how the HR practices influence psychological contracts, b) to examine the influence of psychological contracts to individual behavior and to contribute individually, c) to study the psychological contact through leadership. This research using mixed methods, qualitative and quantitative research methods were utilized to gather the data collected using a qualitative method by the HR Manager who is in charge of the trainings from the staffs and quantitative method (survey) by using questionnaire was utilized to draw upon and to elaborate on the recurring themes present during the interviews. The survey was done to 400 staffs of the company. The study found that leadership styles supporting the firm’s HR strategy is the key in making psychological contracts that benefit both the firm and its members.

Keywords: Human Resource Performance Practice, and Leadership, Psychological Contacts, Relationship of Managers and staffs.

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Authors: Christine L. Cole

Abstract:

Adolescents with Autism Spectrum Disorders (ASD) often experience social-communication difficulties that negatively impact their social interactions with typical peers. However, unlike other age and disability groups, there is little intervention research to inform best practice for these students. One evidence-based strategy for younger students with ASD is peer-mediated intervention (PMI). PMI may be particularly promising for use with adolescents, as peers are readily available and are natural experts for encouraging authentic high school conversations. This paper provides a review of previous research that evaluated the use of PMI to improve the socialcommunication skills of students with ASD. Specific intervention features associated with positive student outcomes are identified and recommendations for future research are provided. Adolescents with ASD are targeted due the critical importance of social conversation at the high school level.

Keywords: Autism, peer-mediation, social communication, adolescents.

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Authors: Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze

Abstract:

Importance of management of legal entities under private law of which especially corporate management, as well as looking for ways of its improvement and perfection has become especially relevant in the twenty-first century, which was greatly contributed to by the global economic crisis. Some states have adopted Corporate Governance Codes; the European Union has set to work on a series of directives the main purpose of which is an improvement of corporate governance, provision of greater transparency and implementation of an effective control mechanism. This process is not yet completed, and various problematic issues associated with management of legal persons are still being debated among practitioner experts and scholars. Georgia is not an exception in this regard. The article discusses the legislative gaps, and in some cases, discrepancies having arisen in legal relationships under private law and having caused many practical problems. This especially applies to the management of capital companies.

Keywords: Business entities, corporate management, public capital management, collective norms, existing problems, legal discrepancies.

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Authors: Suwit Sadsunk

Abstract:

The study is about the designed and decorative fabric printing that derived from the Five-color porcelain (Benjarong). The researcher examined the pattern and creativity of the decorative design of the Five-color porcelain (Benjarong) by the artists in order to apply for contemporary arts so that young generation will acknowledge the importance of the Five-color porcelain (Benjarong). The research methodology is both quantitative and qualitative. The researcher conducted an in-depth interview with the operator of five-color porcelain (Benjarong) at Ampawa, Samutsongkram. The information from the interview can be useful and implemented for designing the fabric patterns. The researcher found that there were many formats and designs of the Five-color porcelain (Benjarong) from the past to the present. Its unique design can be applied for the fabric patterns and ready-to-wear clothes properly. After advertising and showing the work of the Five-color porcelain (Benjarong) publicly, there were more young people interested in the Five-color porcelain (Benjarong) than expected which exceeded the objective with positive attitudes towards the Five-color porcelain (Benjarong).

Keywords: Decorative fabric printing, Five-color porcelain (Benjarong).

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Authors: Nicoletta Adamo-Villani

Abstract:

The object of this research is the design and evaluation of an immersive Virtual Learning Environment (VLE) for deaf children. Recently we have developed a prototype immersive VR game to teach sign language mathematics to deaf students age K- 4 [1] [2]. In this paper we describe a significant extension of the prototype application. The extension includes: (1) user-centered design and implementation of two additional interactive environments (a clock store and a bakery), and (2) user-centered evaluation including development of user tasks, expert panel-based evaluation, and formative evaluation. This paper is one of the few to focus on the importance of user-centered, iterative design in VR application development, and to describe a structured evaluation method.

Keywords: 3D Animation, Virtual Reality, Virtual Learning Environments, User-Centered Design, User-centered Evaluation.

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Authors: R.S Pugazenthi, Andy C. McIntosh

Abstract:

Plasma Wind Tunnels (PWT) are extensively used for screening and qualification of re-entry Thermel Protection System (TPS) materials. Proper design of a supersonic diffuser for plasma wind tunnel is of importance for achieving good pressurerecovery (thereby reducing vacuum pumping requirement & run time costs) and isolating downstream stream fluctuations from propagating costs) and isolating downstream stream fluctuationnts the details of a rapid design methodology successfully employed for designing supersonic diffuser for high power (several megawatts)plasma wind tunnels and numerical performance analysis of a diffuser configuration designed for one megawatt power rated plasma wind tunnel(enthalpy ~ 30 MJ/kg) using FLUENT 6.3® solver for different diffuser operating sub-atmospheric back-pressures.

Keywords: Compressible flow, plasma wind tunnel, re-entry, supersonic diffuser

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Authors: D. D. Wang, J.C. Lam, Z. H. Mai

Abstract:

Controlled modification of appropriate sharpness for nanotips is of paramount importance to develop novel materials and functional devices at a nanometer resolution. Herein, we present a reliable and unique strategy of laser irradiation enhanced physicochemical etching to manufacture super sharp tungsten tips with reproducible shape and dimension as well as high yields (~80%). The corresponding morphology structure evolution of tungsten tips and laser-tip interaction mechanisms were systematically investigated and discussed using field emission scanning electron microscope (SEM) and physical optics statistics method with different fluences under 532 nm laser irradiation. This work paves the way for exploring more accessible metallic tips applications with tunable apex diameter and aspect ratio, and, furthermore, facilitates the potential sharpening enhancement technique for other materials used in a variety of nanoscale devices.

Keywords: Tungsten tip sharpening, Laser irradiation, Physicochemical etching, Light-matter interaction.

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Authors: Muhammad Khalil, Nader Abuelfoutouh, Gasser Abdelal, Adrian Murphy

Abstract:

Nowadays, the direct effects of lightning to aircrafts are of great importance because of the massive use of composite materials. In comparison with metallic materials, composites present several weaknesses for lightning strike direct effects. Especially, their low electrical and thermal conductivities lead to severe lightning strike damage. The lightning strike direct effects are burning, heating, magnetic force, sparking and arcing. As the problem is complex, we investigated it gradually. A magnetohydrodynamics (MHD) model is developed to simulate the lightning strikes in order to estimate the damages on the composite materials. Then, a coupled thermal-electrical finite element analysis is used to study the interaction between the lightning arc and the composite laminate and to investigate the material degradation.

Keywords: Composite structures, lightning multiphysics, magnetohydrodynamics, coupled thermal-electrical analysis, thermal plasmas.

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Authors: J. García-Pérez

Abstract:

An approach to compute optimum seismic design parameters is presented. It is based on the optimization of the expected present value of the total cost, which includes the initial cost of structures as well as the cost due to earthquakes. Different types of seismicity models are considered, including one for characteristic earthquakes. Uncertainties are included in some variables to observe the influence on optimum values. Optimum seismic design coefficients are computed for three different structural types representing high, medium and low rise buildings, located near and far from the seismic sources. Ordinary and important structures are considered in the analysis. The results of optimum values show an important influence of seismicity models as well as of uncertainties on the variables.

Keywords: Importance factors, optimum parameters, seismic losses, seismic risk, total cost.

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Authors: Ichiro Mukai

Abstract:

The purpose of this study is to investigate whether firms applying International Financial Reporting Standards (IFRS), provide high-quality and comparable earnings information that is useful for decision making of information users relative to firms applying local Generally Accepted Accounting Principles (GAAP). Focus is placed on the earnings quality of listed firms in several developed countries: Australia, Canada, France, Germany, Japan, the United Kingdom (UK), and the United States (US). Except for Japan and the US, the adoption of IFRS is mandatory for listed firms in these countries. In Japan, the application of IFRS is allowed for specific listed firms. In the US, the foreign firms listed on the US securities market are permitted to apply IFRS but the listed domestic firms are prohibited from doing so. In this paper, the differences in earnings quality are compared between firms applying local GAAP and those applying IFRS in each country and industry category, and the reasons of differences in earnings quality are analyzed using various factors. The results show that, although the earnings quality of firms applying IFRS is higher than that of firms applying local GAAP, this varies with country and industry category. Thus, even if a single set of global accounting standards is used for all listed firms worldwide, it is difficult to establish comparability of financial information among global firms. These findings imply that various circumstances surrounding firms, industries, and countries etc. influence business operations and affect the differences in earnings quality.

Keywords: Accruals, earnings quality, IFRS, information comparability.

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Authors: Yi-Chang Chen, Shan-Lin Chang, Chia-Chun Wu

Abstract:

Unlike this study focused extensively on trading behavior of option market, those researches were just taken their attention to model-driven option pricing. For example, Black-Scholes (B-S) model is one of the most famous option pricing models. However, the arguments of B-S model are previously mentioned by some pricing models reviewing. This paper following suggests the importance of the dynamic character for option pricing, which is also the reason why using the genetic algorithm (GA). Because of its natural selection and species evolution, this study proposed a hybrid model, the Genetic-BS model which combining GA and B-S to estimate the price more accurate. As for the final experiments, the result shows that the output estimated price with lower MAE value than the calculated price by either B-S model or its enhanced one, Gram-Charlier garch (G-C garch) model. Finally, this work would conclude that the Genetic-BS pricing model is exactly practical.

Keywords: genetic algorithm, Genetic-BS, option pricing model.

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Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

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Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans.

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