Search results for: empirical validation

Authors: Wei Zhang, Lifen Zhao

Abstract:

The present study aims to translate and validate the Career Motivation Scale among Chinese University and vocational college teachers. Exploratory factor analysis supported a three-factor structure that was consistent with the original structure of career motivation: career insight, career identity, and career resilience. Confirmatory factor analysis showed that a second-order three-factor model with correlated measurement errors best fit the data. Configural, metric, and scalar invariance models were tested, demonstrating that the Chinese version of the Career Motivation Scale did not differ across groups of school type, educational level, and working years in current institutions. The concurrent validity of the Chinese Career Motivation Scale was confirmed by its significant correlations with work engagement, career adaptability, career satisfaction, job crafting, and intention to quit. The results of the study indicated that the Chinese Career Motivation Scale was a valid and reliable measure of career motivation among university and vocational college teachers in China.

Keywords: Career motivation scale, Chinese university and vocational college teachers, measurement invariance, validation.

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Authors: H. D. Lim, Jie Wu, T. H. New, Shengxian Shi

Abstract:

This paper outlines the development of an experimental technique in quantifying supersonic jet flows, in an attempt to avoid seeding particle problems frequently associated with particle-image velocimetry (PIV) techniques at high Mach numbers. Based on optical flow algorithms, the idea behind the technique involves using high speed cameras to capture Schlieren images of the supersonic jet shear layers, before they are subjected to an adapted optical flow algorithm based on the Horn-Schnuck method to determine the associated flow fields. The proposed method is capable of offering full-field unsteady flow information with potentially higher accuracy and resolution than existing point-measurements or PIV techniques. Preliminary study via numerical simulations of a circular de Laval jet nozzle successfully reveals flow and shock structures typically associated with supersonic jet flows, which serve as useful data for subsequent validation of the optical flow based experimental results. For experimental technique, a Z-type Schlieren setup is proposed with supersonic jet operated in cold mode, stagnation pressure of 4 bar and exit Mach of 1.5. High-speed singleframe or double-frame cameras are used to capture successive Schlieren images. As implementation of optical flow technique to supersonic flows remains rare, the current focus revolves around methodology validation through synthetic images. The results of validation test offers valuable insight into how the optical flow algorithm can be further improved to improve robustness and accuracy. Despite these challenges however, this supersonic flow measurement technique may potentially offer a simpler way to identify and quantify the fine spatial structures within the shock shear layer.

Keywords: Schlieren, optical flow, supersonic jets, shock shear layer.

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Authors: Valentin Florentin Dumitru

Abstract:

The need to use high volumes of data and the high competition are only two reasons which make necessary the use of information technologies. The objective of our research is to establish the impact of information technologies on the accounting department of the Romanian companies. In order to achieve it, starting from the literature review we made an empirical research based on a questionnaire. We investigated the types of technologies used, the reasons which led to the implementation of certain technologies, the benefits brought by the use of the information technologies, the difficulties brought by the implementation and the future effects of the applications. The conclusions show that there is an evolution in the degree of implementation of the information technologies in the Romanian companies, compared with the results of other studies conducted a few years before.

Keywords: Information technologies, impact, company, Romania, empirical study.

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Authors: Jawad Makki, Anne-Marie Alquier, Violaine Prince

Abstract:

In this paper we propose an NLP-based method for Ontology Population from texts and apply it to semi automatic instantiate a Generic Knowledge Base (Generic Domain Ontology) in the risk management domain. The approach is semi-automatic and uses a domain expert intervention for validation. The proposed approach relies on a set of Instances Recognition Rules based on syntactic structures, and on the predicative power of verbs in the instantiation process. It is not domain dependent since it heavily relies on linguistic knowledge. A description of an experiment performed on a part of the ontology of the PRIMA1 project (supported by the European community) is given. A first validation of the method is done by populating this ontology with Chemical Fact Sheets from Environmental Protection Agency2. The results of this experiment complete the paper and support the hypothesis that relying on the predicative power of verbs in the instantiation process improves the performance.

Keywords: Information Extraction, Instance Recognition Rules, Ontology Population, Risk Management, Semantic analysis.

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Authors: Linda, Sau-ling Lai

Abstract:

This paper adopts a notion of expectation-perception gap of systems users as information systems (IS) failure. Problems leading to the expectation-perception gap are identified and modelled as five interrelated discrepancies or gaps throughout the process of information systems development (ISD). It describes an empirical study on how systems developers and users perceive the size of each gap and the extent to which each problematic issue contributes to the gap. The key to achieving success in ISD is to keep the expectationperception gap closed by closing all 5 pertaining gaps. The gap model suggests that most factors in IS failure are related to organizational, cognitive and social aspects of information systems design. Organization requirement analysis, being the weakest link of IS development, is particularly worthy of investigation.

Keywords: Information Systems Development, Expectation- Perception Gap, Gap Analysis, Organization Analysis.

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Authors: Nargess Mottaghi Golshan, Siti Zaleha Abdul Rasid

Abstract:

Purpose:This paper aims to gain insights to the influential factors of ERM adoptions by public listed firms in Malaysia. Findings:The two factors of financial leverage and auditor type were found to be significant influential factors for ERM adoption. In other words the findings indicated that firms with higher financial leverage and with a Big Four auditor are more likely to have a form of ERM framework in place. Originality/Value:Since there are relatively few studies conducted in this area and specially in developing economies like Malaysia, this study will broaden the scope of literature by providing novel empirical evidence.

Keywords: Enterprise risk management, risk, public listed company.

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Authors: Shaoying Guo, Yanyun Xu, Meng Zhang, Weiqing Huang

Abstract:

The wireless communication network is developing rapidly, thus the wireless security becomes more and more important. Specific emitter identification (SEI) is an vital part of wireless communication security as a technique to identify the unique transmitters. In this paper, a SEI method based on multiscale dispersion entropy (MDE) and refined composite multiscale dispersion entropy (RCMDE) is proposed. The algorithms of MDE and RCMDE are used to extract features for identification of five wireless devices and cross-validation support vector machine (CV-SVM) is used as the classifier. The experimental results show that the total identification accuracy is 99.3%, even at low signal-to-noise ratio(SNR) of 5dB, which proves that MDE and RCMDE can describe the communication signal series well. In addition, compared with other methods, the proposed method is effective and provides better accuracy and stability for SEI.

Keywords: Cross-validation support vector machine, refined composite multiscale dispersion entropy, specific emitter identification, transient signal, wireless communication device.

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Authors: Gergely Géczi

Abstract:

In the modern world, ice-hockey (and in a broader sense, team sports) is becoming an increasingly popular field of entertainment. Although the main element is most likely perceived as the show itself, winning is an inevitable part of the successful operation of any sports team. In this paper, the author creates a research design allowing to develop and validate an ice-hockey team-focused diagnostics scale, which enables researchers and practitioners to identify the problems associated with underperforming teams. The construction of the scale starts with personal interviews with experts of the field, carefully chosen from Hungarian ice-hockey sector. Based on the interviews, the author is shown to be in the position to create the categories and the relevant items for the scale. When constructed, the next step is the validation process on a Hungarian sample. Data for validation are acquired through reaching the licensed database of the Hungarian Ice-Hockey Federation involving Hungarian ice-hockey coaches and players. The Ice-Hockey Team Diagnostics Scale is to be created to orientate practitioners in understanding both effective and underperforming team work.

Keywords: Diagnostics Scale, effective versus underperforming team work, ice-hockey, research design.

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Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.

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Authors: Fred Lacy

Abstract:

Electrical resistivity is a fundamental parameter of metals or electrical conductors. Since resistivity is a function of temperature, in order to completely understand the behavior of metals, a temperature dependent theoretical model is needed. A model based on physics principles has recently been developed to obtain an equation that relates electrical resistivity to temperature. This equation is dependent upon a parameter associated with the electron travel time before being scattered, and a parameter that relates the energy of the atoms and their separation distance. Analysis of the energy parameter reveals that the equation is optimized if the proportionality term in the equation is not constant but varies over the temperature range. Additional analysis reveals that the theoretical equation can be used to determine the mean free path of conduction electrons, the number of defects in the atomic lattice, and the ‘equivalent’ charge associated with the metallic bonding of the atoms. All of this analysis provides validation for the theoretical model and provides insight into the behavior of metals where performance is affected by temperatures (e.g., integrated circuits and temperature sensors).

Keywords: Callendar–van Dusen, conductivity, mean free path, resistance temperature detector, temperature sensor.

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Authors: Adam Gorine, Faten Spondon

Abstract:

Python is considered the most popular programming language and offers its own ecosystem for archiving and maintaining open-source software packages. This system is called the Python Package Index (PyPI), the repository of this programming language. Unfortunately, one-third of these software packages have vulnerabilities that allow attackers to execute code automatically when a vulnerable or malicious package is installed. This paper contributes to large-scale empirical studies investigating security issues in the Python ecosystem by evaluating package vulnerabilities. These provide a series of implications that can help the security of software ecosystems by improving the process of discovering, fixing, and managing package vulnerabilities. The vulnerable dataset is generated using the NVD, the National Vulnerability Database, and the Snyk vulnerability dataset. In addition, we evaluated 807 vulnerability reports in the NVD and 3900 publicly known security vulnerabilities in Python Package Manager (Pip) from the Snyk database from 2002 to 2022. As a result, many Python vulnerabilities appear in high severity, followed by medium severity. The most problematic areas have been improper input validation and denial of service attacks. A hybrid scanning tool that combines the three scanners, Bandit, Snyk and Dlint, which provide a clear report of the code vulnerability, is also described.

Keywords: Python vulnerabilities, Bandit, Snyk, Dlint, Python Package Index, ecosystem, static analysis, malicious attacks.

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Authors: Mohd Tariq

Abstract:

The three phase system drives produce the problem of more torque pulsations and harmonics. This issue prevents the smooth operation of the drives and it also induces the amount of heat generated thus resulting in an increase in power loss. Higher phase system offers smooth operation of the machines with greater power capacity. Five phase variable-speed induction motor drives are commonly used in various industrial and commercial applications like tractions, electrical vehicles, ship propulsions and conveyor belt drive system. In this work, a comparative analysis of the different modulation schemes applied on the five-level five-phase Packed U Cell (PUC) inverter fed induction motor drives is presented. The performance of the inverter is greatly affected with the modulation schemes applied. The system is modeled, designed, and implemented in MATLAB^®/Simulink environment. Experimental validation is done for the prototype of single phase, whereas five phase experimental validation is proposed in the future works.

Keywords: Packed U-Cell inverter, pulse width modulation, five-phase system, induction motor.

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Authors: Ingrid Göpfert, Michael Stephan, Wanja Wellbrock, Malte Ackermann

Abstract:

Empirical insights into the implementation of logistics competencies at the top management level are scarce. This paper addresses this issue with an explorative approach which is based on a dataset of 872 observations in the years 2000, 2004 and 2008 using quantitative content analysis from annual reports of the 500 publicly listed firms with the highest global research and development expenditures according to the British Department for Business Innovation and Skills. We find that logistics competencies are more pronounced in Asian companies than in their European or American counterparts. On an industrial level the results are quite mixed. Using partial point-biserial correlations we show that logistics competencies are positively related to financial performance.

Keywords: Logistics, supply chain management, content analysis, executive boards, multinational corporations.

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Authors: Yaser E. Hawas, Md. Didarul Alam

Abstract:

Rollover crashes are complex events entailing interactions of driver, road, vehicle, and environmental factors. The primary objective of this paper is to present an empirical approach that can be used to characterise the rollover crashes and to identify some of the important factors that may lead to rollovers. Among the studied factors are the vehicle types and the rollover occurrence rate after hitting various barrier types. The carried analysis indicated that 71% of the rollover crashes occurred after impact and the type of rollover initiation is “trip/turn over” (nearly 50%). It was also found that light trucks (LTVs) vehicles are more likely to rollover than the sedan vehicles. Barrier impacts are associated with increased incidence of rollover.

Keywords: Empirical, hitting barrier, in-depth crash investigation, rollover, severe crash.

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Authors: F. Apaydın

Abstract:

In this empirical research, how marketing managers evaluate their firms- performances and decide to make innovation is examined. They use some standards which are past performance of the firm, target performance of the firm, competitor performance, and average performance of the industry to compare and evaluate the firms- performances. It is hypothesized that marketing managers and owners of the firm compare the firms- current performance with these four standards at the same time to decide when to make innovation relating to any aspects of the firm, either management style or products. Relationship between the comparison of the firm-s performance with these standards and innovation are searched in the same regression model. The results of the regression analysis are discussed and some recommendations are made for future studies and applicants.

Keywords: Innovation, performance evaluation standards

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Authors: S. O. Adeosun, E. I. Akpan, S. A. Balogun, O. O. Taiwo

Abstract:

A model to predict the plastic zone size for material under plane stress condition has been developed and verified experimentally. The developed model is a function of crack size, crack angle and material property (dislocation density). Simulation and validation results show that the model developed show good agreement with experimental results. Samples of low carbon steel (0.035%C) with included surface crack angles of 45o, 50o, 60o, 70o and 90o and crack depths of 2mm and 4mm were subjected to low strain rate between 0.48 x 10-3 s-1 – 2.38 x 10-3 s-1. The mechanical properties studied were ductility, tensile strength, modulus of elasticity, yield strength, yield strain, stress at fracture and fracture toughness. The experimental study shows that strain rate has no appreciable effect on the size of plastic zone while crack depth and crack angle plays an imperative role in determining the size of the plastic zone of mild steel materials.

Keywords: Applied stress, crack angle, crack size, material property, plastic zone size, strain rate.

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Authors: Pavel Adámek

Abstract:

This study examines perception of environmental approach in small and medium-sized enterprises (SMEs) – the process by which firms integrate environmental concern into business. Based on a review of the literature, the paper synthesizes focus on environmental issues with the reflection in a case study in the Czech Republic. Two themes of corporate environmentalism are discussed – corporate environmental orientation and corporate stances toward environmental concerns. It provides theoretical material on greening organizational culture that is helpful in understanding the response of contemporary business to environmental problems. We integrate theoretical predictions with empirical findings confronted with reality. Scales to measure these themes are tested in a survey of managers in 229 Czech firms. We used the process of in-depth questioning. The research question was derived and answered in the context of the corresponding literature and conducted research. A case study showed us that environmental approach is variety different (depending on the size of the firm) in SMEs sector. The results of the empirical mapping demonstrate Czech company’s approach to environment and define the problem areas and pinpoint the main limitation in the expansion of environmental aspects. We contribute to the debate for recognition of the particular role of environmental issues in business reality.

Keywords: Corporate environmentalism, Czech Republic, empirical mapping, environmental performance.

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Authors: A. Niknejad, G. H. Liaghat, A. H. Behravesh, H. Moslemi Naeini

Abstract:

In this paper, a semi empirical formula is presented based on the experimental results to predict the first pick (maximum force) value in the instantaneous folding force- axial distance diagram of a square column. To achieve this purpose, the maximum value of the folding force was assumed to be a function of the average folding force. Using the experimental results, the maximum value of the force necessary to initiate the first fold in a square column was obtained with respect to the geometrical quantities and material properties. Finally, the results obtained from the semi empirical relation in this paper, were compared to the experimental results which showed a good correlation.

Keywords: Honeycomb, folding force, square column, aluminum, axial loading.

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Authors: Mustafa Bin Yusof, Mohammad Amirul Affiz Bin Afripin

Abstract:

Safety of bus journey is a fundamental concern. Risk of injuries and fatalities is severe when bus superstructure fails during rollover accident. Adequate design and sufficient strength of bus superstructure can reduce the number of injuries and fatalities. This paper deals with structural analysis of bus superstructure undergoes rollover event. Several value of mass will be varied in multiple simulations. The purpose of this work is to analyze structural response of bus superstructure in terms of deformation, stress and strain under several loading and constraining conditions. A complete bus superstructure with forty four passenger-s capability was developed using finite element analysis software. Simulations have been conducted to observe the effect of total mass of bus on the strength of superstructure. These simulations are following United Nation Economic Commission of Europe regulation 66 which focuses on strength of large vehicle superstructure. Validation process had been done using simple box model experiment and results obtained are comparing with simulation results. Inputs data from validation process had been used in full scale simulation. Analyses suggested that, the failure of bus superstructure during rollover situation is basically dependent on the total mass of bus and on the strength of bus superstructure.

Keywords: Bus, rollover, superstructure strength, UNECE regulation 66.

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Authors: Wei Lei, Hui Chen, Lin Lu

Abstract:

Microscopic emission and fuel consumption models have been widely recognized as an effective method to quantify real traffic emission and energy consumption when they are applied with microscopic traffic simulation models. This paper presents a framework for developing the Microscopic Emission (HC, CO, NOx, and CO2) and Fuel consumption (MEF) models for light-duty vehicles. The variable of composite acceleration is introduced into the MEF model with the purpose of capturing the effects of historical accelerations interacting with current speed on emission and fuel consumption. The MEF model is calibrated by multivariate least-squares method for two types of light-duty vehicle using on-board data collected in Beijing, China by a Portable Emission Measurement System (PEMS). The instantaneous validation results shows the MEF model performs better with lower Mean Absolute Percentage Error (MAPE) compared to other two models. Moreover, the aggregate validation results tells the MEF model produces reasonable estimations compared to actual measurements with prediction errors within 12%, 10%, 19%, and 9% for HC, CO, NOx emissions and fuel consumption, respectively.

Keywords: Emission, Fuel consumption, Light-duty vehicle, Microscopic, Modeling.

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Authors: F. Isada, Y. Isada

Abstract:

The aim of this research is to clarify the difference by industry segment or product characteristics as regards organisation management for an open innovation to raise R&D performance. In particular, the trait of the pharmaceutical industry is defined in comparison with IT component industry segment. In considering open innovation, both inter-organisational relation and the management in an organisation are important issues. As methodology, a questionnaire was conducted. In conclusion, suitable organisation management according to the difference in industry segment or product characteristics became clear.

Keywords: Empirical study, industry segment, open innovation, product-development organisation pattern.

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Authors: Michael Torggler

Abstract:

IT consultants often take over an important role as an interface between technological, organizational and managerial structures. As a result, the services offered are in many cases assigned to different disciplines which can cause a lack of transparency on the market for consulting services. However, not all consulting products are suitable for every company because of different frameworks and business processes. In this context the questions arises as to what consulting products are currently offered and how they can be compared as well as how the market for IT consulting services is structured on the supply side. The presented study aims to shed light on the IT consulting market by giving an overview of the current structure of the supply-side for IT consulting services as well as proposing a categorization of the currently available consulting services (consulting fields) in order to provide a theoretical background for the empirical study. Apart from these theoretical considerations, the empirical results of field surveys on the Austrian IT consulting market are presented and analyzed.

Keywords: IT Consulting, Management Consulting, ISConsulting, Consulting Fields, Market study.

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Authors: Giuliano Raimondo, Jörg Wangemann, Peer Drechsel

Abstract:

In systems development involving Fuel Cells generators, it is important to have from an early stage of the project a dynamic model for the electrical behavior of the stack to be shared between involved development parties. It allows independent and early design and tests of fuel cell related power electronic. This paper presents an empirical Fuel Cell system model derived from characterization tests on a real system. Moreover, it is illustrated how the obtained model is used to build and validate a real-time Fuel Cell system emulator which is used for aerospace electrical integration testing activities.

Keywords: Fuel cell dynamics, real time simulation, fuel cell, modelling, testing.

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Authors: Aravind Mohan Krishnan

Abstract:

This paper identifies a research gap in the literature on tourism entrepreneurship in Malawi, Africa, and investigates how entrepreneurs from the Malawian tourism sector discover and exploit business opportunities. In particular, the importance of prior experience and business networks in the opportunity development process is debated. Another area of empirical research examined here is the opportunity recognition-venture creation sequence. While Malawi presents fruitful business opportunities, exploiting these opportunities into fully realized business ideas is a real challenge due to the country’s difficult business environment and poor promotional and marketing efforts. The study concludes by calling for further research in Sub-Saharan Africa in order to develop our understanding of entrepreneurship in this (African) context.

Keywords: Tourism, entrepreneurship, Malawi, business opportunities.

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Authors: C. Schneider, M. M. Seizmeir, T. Suchanek, M. Hutter-Mironovová, M. Bdiwi, M. Putz

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In this paper, a suitable measurement setup is presented to conduct force and pressure measurements for transient contact cases at the example of lathe machine tending. Empirical measurements were executed on a selected collaborative robot’s behavior regarding allowable operating speeds under consideration of sensor- and workpiece-specific factors. Comparisons between the theoretic calculations proposed in ISO/TS 15066 and the practical measurement results reveal a basis for future research. With the created database, preliminary risk assessment and economic assessment procedures of collaborative machine tending cells can be facilitated.

Keywords: biomechanical thresholds, collaborative robots, force and pressure measurements, machine tending, transient contact

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Authors: Shuh Liang

Abstract:

This article provides empirical evidence on the effect of domestic and international factors on the U.S. current account deficit. Linear dynamic regression and vector autoregression models are employed to estimate the relationships during the period from 1986 to 2011. The findings of this study suggest that the current and lagged private saving rate and foreign current account for East Asian economies have played a vital role in affecting the U.S. current account. Additionally, using Granger causality tests and variance decompositions, the change of the productivity growth and foreign domestic demand are determined to influence significantly the change of the U.S. current account. To summarize, the empirical relationship between the U.S. current account deficit and its determinants is sensitive to alternative regression models and specifications.

Keywords: Current account deficit, productivity growth, foreign demand, vector autoregression.

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Authors: Barbora Chmelíková

Abstract:

Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason, this study analyses financial knowledge, financial behavior, and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, such as financial knowledge, personal finance behavior, or decisionmaking. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.

Keywords: Financial literacy, financial behavior, personal finance management, university students.

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Authors: M. Pandi, K. Premalatha

Abstract:

A DNA microarray technology is a collection of microscopic DNA spots attached to a solid surface. Scientists use DNA microarrays to measure the expression levels of large numbers of genes simultaneously or to genotype multiple regions of a genome. Elucidating the patterns hidden in gene expression data offers a tremendous opportunity for an enhanced understanding of functional genomics. However, the large number of genes and the complexity of biological networks greatly increase the challenges of comprehending and interpreting the resulting mass of data, which often consists of millions of measurements. It is handled by clustering which reveals the natural structures and identifying the interesting patterns in the underlying data. In this paper, gene based clustering in gene expression data is proposed using Cuckoo Search with Differential Evolution (CS-DE). The experiment results are analyzed with gene expression benchmark datasets. The results show that CS-DE outperforms CS in benchmark datasets. To find the validation of the clustering results, this work is tested with one internal and one external cluster validation indexes.

Keywords: DNA, Microarray, genomics, Cuckoo Search, Differential Evolution, Gene expression data, Clustering.

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Authors: M. Sitoe, O. Zacarias

Abstract:

University education is influenced by several factors that range from the adoption of strategies to strengthen the whole process to the academic performance improvement of the students themselves. This work uses data mining techniques to develop a predictive model to identify students with a tendency to evasion and retention. To this end, a database of real students’ data from the Department of University Admission (DAU) and the Department of Mathematics and Informatics (DMI) was used. The data comprised 388 undergraduate students admitted in the years 2009 to 2014. The Weka tool was used for model building, using three different techniques, namely: K-nearest neighbor, random forest, and logistic regression. To allow for training on multiple train-test splits, a cross-validation approach was employed with a varying number of folds. To reduce bias variance and improve the performance of the models, ensemble methods of Bagging and Stacking were used. After comparing the results obtained by the three classifiers, Logistic Regression using Bagging with seven folds obtained the best performance, showing results above 90% in all evaluated metrics: accuracy, rate of true positives, and precision. Retention is the most common tendency.

Keywords: Evasion and retention, cross validation, bagging, stacking.

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Authors: G. L. C. Yap

Abstract:

Modelling realized volatility with high-frequency returns is popular as it is an unbiased and efficient estimator of return volatility. A computationally simple model is fitting the logarithms of the realized volatilities with a fractionally integrated long-memory Gaussian process. The Gaussianity assumption simplifies the parameter estimation using the Whittle approximation. Nonetheless, this assumption may not be met in the finite samples and there may be a need to normalize the financial series. Based on the empirical indices S&P500 and DAX, this paper examines the performance of the linear volatility model pre-treated with normalization compared to its existing counterpart. The empirical results show that by including normalization as a pre-treatment procedure, the forecast performance outperforms the existing model in terms of statistical and economic evaluations.

Keywords: Long-memory, Gaussian process, Whittle estimator, normalization, volatility, value-at-risk.

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