Search results for: secondary housing market

Authors: Norfishah Mat Rabi, Rosma Osman, Norziana Mat Rabi

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It is difficult for autistic children to mix with and be around with other people. Language difficulties are a problem that affects their social life. A lack of knowledge and ability in language are factors that greatly influence their behavior, and their ability to communicate and interact. Autistic children need to be assisted to improve their language abilities through the use of suitable learning resources. This study is conducted to identify weather graphic animation resources can help autistic children learn and use transitive verbs more effectively. The study was conducted in a rural secondary school in Penang, Malaysia. The research subject comprised of three autistic students ranging in age from 14 years to 16 years. The 14-year-old student is placed in A Class and two 16-year-old students placed in B Class. The class placement of the subjects is based on the diagnostic test results conducted by the teacher and not based on age. Data collection is done through observation and interviews for the duration of five weeks; with the researcher allocating 30 minutes for every learning activity carried out. The research finding shows that the subjects learn transitive verbs better using graphic animation compared to static pictures. It is hoped that this study will give a new perspective towards the learning processes of autistic children.

Keywords: Autistic, graphic animation, language learning, transitive verbs.

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Authors: Rujira Kongnuy, Puntani Pongsumpun, I-Ming Tang

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Mathematical models can be used to describe the dynamics of the spread of infectious disease between susceptibles and infectious populations. Dengue fever is a re-emerging disease in the tropical and subtropical regions of the world. Its incidence has increased fourfold since 1970 and outbreaks are now reported quite frequently from many parts of the world. In dengue endemic regions, more cases of dengue infection in pregnancy and infancy are being found due to the increasing incidence. It has been reported that dengue infection was vertically transmitted to the infants. Primary dengue infection is associated with mild to high fever, headache, muscle pain and skin rash. Immune response includes IgM antibodies produced by the 5th day of symptoms and persist for 30-60 days. IgG antibodies appear on the 14th day and persist for life. Secondary infections often result in high fever and in many cases with hemorrhagic events and circulatory failure. In the present paper, a mathematical model is proposed to simulate the succession of dengue disease transmission in pregnancy and infancy. Stability analysis of the equilibrium points is carried out and a simulation is given for the different sets of parameter. Moreover, the bifurcation diagrams of our model are discussed. The controlling of this disease in infant cases is introduced in the term of the threshold condition.

Keywords: Dengue infection, equilibrium states, maternalantibodies, pregnancy and infancy.

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Authors: Guoyuan Qi , Yskandar Hamam, Barend Jacobus van Wyk, Shengzhi Du

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The majority of existing predictors for time series are model-dependent and therefore require some prior knowledge for the identification of complex systems, usually involving system identification, extensive training, or online adaptation in the case of time-varying systems. Additionally, since a time series is usually generated by complex processes such as the stock market or other chaotic systems, identification, modeling or the online updating of parameters can be problematic. In this paper a model-free predictor (MFP) for a time series produced by an unknown nonlinear system or process is derived using tracking theory. An identical derivation of the MFP using the property of the Newton form of the interpolating polynomial is also presented. The MFP is able to accurately predict future values of a time series, is stable, has few tuning parameters and is desirable for engineering applications due to its simplicity, fast prediction speed and extremely low computational load. The performance of the proposed MFP is demonstrated using the prediction of the Dow Jones Industrial Average stock index.

Keywords: Forecast, model-free predictor, prediction, time series

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Authors: Luciana C. Azevedo, Reinaldo S. Dantas, Antonio G. B. De Sá, Adalberto M. Filho, Patrícia M. Azoubel

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Fermented beverages have high expression in the market for beverages in general, is increasingly valued in situations where the characteristic aroma and flavor of the material that gave rise to them are kept after processing. This study aimed to develop a distilled beverage from passion fruit, and assess, by sensory tests and chromatographic profile, the influence of different treatments (FM1- spirit with pulp addiction and FM2 – spirit with bigger ratio of pulp in must) in the setting of volatiles in the fruit drink, and performing chemical characterization taking into account the main parameters of quality established by the legislation. The chromatograms and the first sensorial tests had indicated that sample FM1 possess better characteristics of aroma, as much of how much quantitative the qualitative point of view. However, it analyzes it sensorial end (preference test) disclosed the biggest preference of the cloth provers for sample FM2-2 (note 7.93), being the attributes of decisive color and flavor in this reply, confirmed for the observed values lowest of fixed and total acidity in the samples of treatment FM2.

Keywords: Fermented-distilled drink, fruit spirits, passion fruit.

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Authors: Batin Latif Aylak, Bernd Noche

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Nowadays there are lots of applications of power and free conveyors in logistics. They are the most frequently used conveyor systems worldwide. Overhead conveyor technologies like power and free systems are used in the most intra-logistics applications in trade and industry. The automotive, food, beverage and textile industry as well as aeronautic catering or engineering are among the applications. Power and free systems employ different manufacturing intervals in manufacturing as well as in production as temporary store and buffer. Depending on the application area, power and free conveyors are equipped with target controls enabling complex distribution-and sorting tasks. This article introduces a new power and free conveyor design in intra-logistics and explains its components. According to the explanation of the components, a model is created by means of their technical characteristics. Through the CAD software, the model is visualized. After that, the static analysis is evaluated. This analysis helps the calculation of the mandatory state of structures under force action. This powerful model helps companies achieve lower development costs as well as quicker market maturity.

Keywords: Intra-logistics, material flow, power and free conveyor.

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Authors: Diego Giuseppe Romano, Gianvito Apuleo, Jiri Duda

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Mobility is one of the most important societal needs for amusement, business activities and health. Thus, transport needs are continuously increasing, with the consequent traffic congestion and pollution increase. Aeronautic effort aims at smarter infrastructures use and in introducing greener concepts. A possible solution to address the abovementioned topics is the development of Small Air Transport (SAT) system, able to guarantee operability from today underused airfields in an affordable and green way, helping meanwhile travel time reduction, too. In the framework of Horizon2020, EU (European Union) has funded the Clean Sky 2 SAT TA (Transverse Activity) initiative to address market innovations able to reduce SAT operational cost and environmental impact, ensuring good levels of operational safety. Nowadays, most of the key technologies to improve passenger comfort and to reduce community noise, DOC (Direct Operating Costs) and pilot workload for SAT have reached an intermediate level of maturity TRL (Technology Readiness Level) 3/4. Thus, the key technologies must be developed, validated and integrated on dedicated ground and flying aircraft demonstrators to reach higher TRL levels (5/6). Particularly, SAT TA focuses on the integration at aircraft level of the following technologies [1]: 1)    Low-cost composite wing box and engine nacelle using OoA (Out of Autoclave) technology, LRI (Liquid Resin Infusion) and advance automation process. 2) Innovative high lift devices, allowing aircraft operations from short airfields (< 800 m). 3) Affordable small aircraft manufacturing of metallic fuselage using FSW (Friction Stir Welding) and LMD (Laser Metal Deposition). 4)       Affordable fly-by-wire architecture for small aircraft (CS23 certification rules). 5) More electric systems replacing pneumatic and hydraulic systems (high voltage EPGDS -Electrical Power Generation and Distribution System-, hybrid de-ice system, landing gear and brakes). 6) Advanced avionics for small aircraft, reducing pilot workload. 7) Advanced cabin comfort with new interiors materials and more comfortable seats. 8) New generation of turboprop engine with reduced fuel consumption, emissions, noise and maintenance costs for 19 seats aircraft. (9) Alternative diesel engine for 9 seats commuter aircraft. To address abovementioned market innovations, two different platforms have been designed: Reference and Green aircraft. Reference aircraft is a virtual aircraft designed considering 2014 technologies with an existing engine assuring requested take-off power; Green aircraft is designed integrating the technologies addressed in Clean Sky 2. Preliminary integration of the proposed technologies shows an encouraging reduction of emissions and operational costs of small: about 20% CO₂ reduction, about 24% NO_x reduction, about 10 db (A) noise reduction at measurement point and about 25% DOC reduction. Detailed description of the performed studies, analyses and validations for each technology as well as the expected benefit at aircraft level are reported in the present paper.

Keywords: Affordable, European, green, mobility, technologies development, travel time reduction.

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Authors: Chiung-ying Lee, Chia-hua Chang

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In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.

Keywords: Financial reference database, Financial early warning model, Logistic Regression.

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Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

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This study is investigating the impact of ideological structures in terms of conservative and liberal on shaping immigration acceptance attitudes under the contribution of socio-economic status. According to motivated reasoning theory, political ideology is identified as a recurrent impact on the formation of attitude, while conservatives tend to express more hostility toward immigrants in comparison to liberals which are proposed to be more tolerant towards immigrants. Our finding suggests that political ideology will structure individual attitudes when citizens socio-economic vulnerability and level of education are low enough to consider immigrants as a threat. Therefore, economic vulnerability is proposed to weaken the ideological predispositions’ resistance. There has been some threats and factors such as level of education and economic condition proposed by group competition theory and labor market competition theory as fundamental factors which can strengthen or weaken the effects of political ideology on individuals’ attitudes towards immigration; those mechanisms for liberals and conservatives will be operated differently.

Keywords: Conservative, immigration, liberal, political ideology.

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Authors: Rajkishore Nayak, Tarun Panwar, Majo George, Irfan Ulhaq, Soumik Parida

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Factors related to the growth of fashion and textile manufacturing in the Sub-Saharan African (SSA) countries are analyzed in this paper. Important factors associated with the growth of fashion and textile manufacturing in the SSA countries are being identified, underlined, and evaluated in this study. This research performed a SWOT analysis of the garment industries in the SSA region by exploring into various literature in the garment manufacturing and export data. SSA countries need to grow a lot in the fashion and textile manufacturing and export to come in par with the developments in the sector globally. Unlike the developing countries such as Vietnam and Bangladesh, the total export to the US, the EU and other parts of the world has declined. On the other hand, the total supply of fashion and textiles to the domestic market has been in rise. However, the local communities still need to rely on other countries to meet their demand. Import of cheaper clothes from countries like Bangladesh China and Vietnam is one of the main challenges local manufacturers are facing as it is very difficult to be competitive in pricing.

Keywords: Sub-Saharan Africa, apparel industry, sustainable fashion, developing countries, fashion, textiles.

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Authors: Raziah Bi Mohamed Sadique, Jamal Roudaki, Murray B. Clark, Norhayati Alias

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Economic crime (i.e. corporate fraud) has a significant impact on business. This study analyzes the fraud cases reported by the Malaysian Securities Commission. Frauds involving market manipulation and/or illegal share trading are the most common types of fraud reported over the 6 years analyzed. The highest number of frauds reported involved investment and fund holding companies. Alarmingly the results indicate quite a high number of frauds cases are committed by management. The higher number of Chinese perpetrators may be due to fact that they are the dominant group in Malaysian business. The result also shows that more than half of companies involved with fraud are privately held companies in the investment/fund/finance sector. The results of this study highlight general characteristic of perpetrators (person and company) that commit fraud which could help the regulators in their monitoring and enforcement activities. To investors, this would help in analyzing their business investment or portfolio risk.

Keywords: Corporate fraud, economic crime, fraudcharacteristic, perpetrators

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Authors: P. Zamani, S. Mohajerzadeh, R. Masoudinejad, Kh. Farhangdoost

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Riveting process is one of the important ways to keep fastening the lap joints in aircraft structures. Failure of aircraft lap joints directly depends on the stress field in the joint. An important application of riveting process is in the construction of aircraft fuselage structures. In this paper, a 3D finite element method is carried out in order to optimize residual stress field in a riveted lap joint and also to estimate its fatigue life. In continue, a number of experiments are designed and analyzed using design of experiments (DOE). Then, Taguchi method is used to select an optimized case between different levels of each factor. Besides that, the factor which affects the most on residual stress field is investigated. Such optimized case provides the maximum residual stress field. Fatigue life of the optimized joint is estimated by Paris-Erdogan law. Stress intensity factors (SIFs) are calculated using both finite element analysis and experimental formula. In addition, the effect of residual stress field, geometry and secondary bending are considered in SIF calculation. A good agreement is found between results of such methods. Comparison between optimized fatigue life and fatigue life of other joints has shown an improvement in the joint’s life.

Keywords: Fatigue life, Residual stress, Riveting process, Stress intensity factor, Taguchi method.

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Authors: Muniyasamy Kalanchiam, Moorthy Chinnasamy

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In the competitive environment of aircraft industries it becomes absolutely necessary to improve the efficiency, performance of the aircrafts to reduce the development and operating costs considerably, in order to capitalize the market. An important contribution to improve the efficiency and performance can be achieved by decreasing the aircraft weight through considerable usage of composite materials in primary aircraft structures. In this study, a type of composite material called Carbon Fiber Reinforced Plastic (CFRP) is explored for the usage is aircraft skin panels. Even though there were plenty of studies and research has been already carried out, here a practical example of an aircraft skin panel is taken and substantiated the benefits of composites material usage over the metallic skin panel. A crown skin panel of a commercial aircraft is designed using both metal and composite materials. Stress analysis has been carried out for both and margin of safety is estimated for the critical load cases. The skin panels are compared for manufacturing, tooling, assembly and cost parameters. Detail step by step comparison between metal and composite constructions are studied and results are tabulated for better understanding.

Keywords: Composites, CFRP, Aircraft Structure, Skin panel.

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Authors: Hatice Odacı

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Depression is a serious mental health problem that affects people of all ages, including children and adolescents. Studies showed that female gender is one of the risk factors may influence the development of depression in adolescents. However, some of the studies from Turkey suggested that gender does not lead to any significant difference in the youth depression level. Therefore, the presented study investigated whether girls differ from boys in respect of depression. The association between genders and test scores for the adolescents in a population of primary and secondary school students was also evaluated. The study was consisting of 254 adolescents (122 boys and 132 girls) with a mean age of 13.86±1.43 (Mean±SD) ranging from 12-16 years. Psychological assessment was performed using Children-s Depression Inventory (CDI). Chi-square and Student-s t-test statistics were employed to analyze the data. The mean of the CDI scores of the girls were higher than boys- CDI scores (t = -4.580, p = 0.001). Higher ratio appeared for the girls when they compared with boy group-s depression levels using a CDI cut-off point of 19 (p = 0.001, Odds Ratio = 2,603). The findings of the present study suggested that adolescent girls have high level of depression than adolescent boys aged between 12-16 years in Turkey. Although some studies reported that there is no any differences depression level between adolescent boys and girls in Turkey, result of the present study showed that adolescent girls have high level of depression than adolescent boys in Turkey.

Keywords: Depression, Adolescent, Turkey, Female Gender, Male Gender.

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Authors: Ashkan Mirzay Fashami

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This study examines the effects of auditor switch, auditee’s industry, and auditee’s location on audit fees in Australia. It uses fee data of Australian Securities Exchange 500 companies, considering all industry classifications throughout the country from 2006 until 2016. Main findings show that auditor switch does not affect audit fees. However, auditee’s industry affects audit fees. This effect occurs in information technology, financials, energy, and materials sectors among the top 500 companies. Financials, energy, and materials sectors face a fee rise, whereas information technology has a fee cut. The extent of fee changes is different among various industries, wherein the financial sector has the highest increase. Further, auditee’s location affects audit fees. Top 500 companies in Hobart, Perth, and Brisbane face a fee reduction, wherein the highest cut is in Hobart. Further analysis suggests that the Australian audit market is being increasingly concentrated in the hands of the Big Four audit firms.

Keywords: Audit fee, auditor switch, Australia, industry, location.

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Authors: Dutescu Adriana, Amariei Corneliu, Sahlian Daniela, Stanila Aurelian, Stanila Oana

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20 years of dentistry was a period of transition from communist to market economy but Romanian doctors have insufficient management knowledge. Recently, the need for modern management has increased due to technologies and superior materials appearance, as patient-s demands. Research goal is to increase efficiency by evaluating dental medical office cost categories in real pricing procedures. Empirical research is based on guided study that includes information about the association between categories of cost perception and therapeutic procedures commonly used in dental offices. Due to the obtained results to identify all the labours that make up a settled procedure costs were determined for each procedure. Financial evaluation software was created with the main functions: introducing and maintaining patient records, treatment and appointments made, procedures cost and monitoring office productivity. We believe that the study results can significantly improve the financial management of dental offices, increasing the effectiveness and quality of services.

Keywords: costs, financial methods, management.

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Authors: Nurul Zahirah M.A., N. Zainul Abidin, Azlan Raofuddin Nuruddin

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Despite all the hype about green building, many developers are still resistant to the idea of building green due to the common perception that green building construction is expensive. This contradicts with scholarly findings that identify only a marginal cost premium or none at all given that green design is considered during the design process and planning stage. Nevertheless, cost implications continue to become an issue when deciding to build green. The planning stage is of strategic importance as decisions made at this early stage would influence the project cost thereafter. Using analysis of existing literature, the paper identifies six elements of soft cost that are considered in the planning stage. The elements include consultants, green building consultant, certification, commissioning, market, and tax. Out of the six elements, commissioning represents the bulk of soft cost for buildings seeking green certification. The study concluded that, although hard cost may have a bigger impact on the project cost, but soft cost is the hidden cost which people tend to ignore. Poor consideration of soft cost during planning stage may lead to over-realistic expectations and ultimately, overlooked cost additions.

Keywords: Green building, cost element, soft cost, developer decision.

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Authors: Danuvasin Charoen

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This research investigates cluster development in the area called the Greater Mekong Subregion (GMS), which consists of Thailand, the People’s Republic of China (PRC), the Yunnan Province and Guangxi Zhuang Autonomous Region, Myanmar, the Lao People’s Democratic Republic (Lao PDR), Cambodia, and Vietnam. The study utilized Porter’s competitiveness theory and the cluster mapping approach to analyze the competitiveness of the region. The data collection consists of interviews, focus groups, and the analysis of secondary data. The findings identify some evidence of cluster development in the GMS; however, there is no clear indication of collaboration among the components in the clusters. GMS clusters tend to be stand-alone. The clusters in Vietnam, Lao PDR, Myanmar, and Cambodia tend to be labor intensive, whereas the clusters in Thailand and the PRC (Yunnan) have the potential to successfully develop into innovative clusters. The collaboration and integration among the clusters in the GMS area are promising, though it could take a long time. The most likely relationship between the GMS countries could be, for example, suppliers of the low-end, labor-intensive products will be located in the low income countries such as Myanmar, Lao PDR, and Cambodia, and these countries will be providing input materials for innovative clusters in the middle income countries such as Thailand and the PRC.

Keywords: Greater Mekong Subregion, competitiveness, cluster, development.

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Authors: András Szekrényes

Abstract:

Delamination is one of the major failure modes in laminated composite structures. Delamination tips are mostly captured by spatial numerical models in order to predict crack growth. This paper presents some mechanical models of delaminated composite shells based on shallow shell theories. The mechanical fields are based on a third-order displacement field in terms of the through-thickness coordinate of the laminated shell. The undelaminated and delaminated parts are captured by separate models and the continuity and boundary conditions are also formulated in a general way providing a large size boundary value problem. The system of differential equations is solved by the state space method for an elliptic delaminated shell having simply supported edges. The comparison of the proposed and a numerical model indicates that the primary indicator of the model is the deflection, the secondary is the widthwise distribution of the energy release rate. The model is promising and suitable to determine accurately the J-integral distribution along the delamination front. Based on the proposed model it is also possible to develop finite elements which are able to replace the computationally expensive spatial models of delaminated structures.

Keywords: J-integral, Lévy method, third-order shell theory, state space solution.

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Authors: Gitanjali Devi, Kandarpa Kumar Sarma, Pranayee Datta, Anjana Kakoti Mahanta

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Cosmic showers, from their places of origin in space, after entering earth generate secondary particles called Extensive Air Shower (EAS). Detection and analysis of EAS and similar High Energy Particle Showers involve a plethora of experimental setups with certain constraints for which soft-computational tools like Artificial Neural Network (ANN)s can be adopted. The optimality of ANN classifiers can be enhanced further by the use of Multiple Classifier System (MCS) and certain data - dimension reduction techniques. This work describes the performance of certain data dimension reduction techniques like Principal Component Analysis (PCA), Independent Component Analysis (ICA) and Self Organizing Map (SOM) approximators for application with an MCS formed using Multi Layer Perceptron (MLP), Recurrent Neural Network (RNN) and Probabilistic Neural Network (PNN). The data inputs are obtained from an array of detectors placed in a circular arrangement resembling a practical detector grid which have a higher dimension and greater correlation among themselves. The PCA, ICA and SOM blocks reduce the correlation and generate a form suitable for real time practical applications for prediction of primary energy and location of EAS from density values captured using detectors in a circular grid.

Keywords: EAS, Shower, Core, ANN, Location.

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Authors: Peter Benneth, Tsaroh N. Theophilus, Prince Benjamin

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This research work aims at studying the application of Legendre Transformation Method (LTM) to Hamilton Jacobi Bellman (HJB) equation which is an example of optimal control problem. We discuss the steps involved in modelling the HJB equation as it relates to mathematical finance by applying the Ito’s lemma and maximum principle theorem. By applying the LTM and dual theory, the resultant HJB equation is transformed to a linear Partial Differential Equation (PDE). Also, the Optimal Investment Strategy (OIS) and the optimal value function were obtained under the exponential utility function. Furthermore, some numerical results were also presented with observations that the OIS under exponential utility is directly proportional to the appreciation rate of the risky asset and inversely proportional to the instantaneous volatility, predetermined interest rate, risk averse coefficient. Finally, it was observed that the optimal fund size is an increasing function of the risk free interest rate. This result is consistent with some existing results.

Keywords: Legendre transformation method, Optimal investment strategy, Ito’s lemma, Hamilton Jacobi Bellman equation, Geometric Brownian motion, financial market.

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Authors: Jayant Sakhardande, Pratik Pattanayak, Mita Bhowmick

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An efficient reintegration of the disabled people in the family and society should be fulfilled; hence it is strongly needful to assist their diminished functions or to replace the totally lost functions. Assistive technology helps in neutralizing the impairment. Recent advancements in embedded systems have opened up a vast area of research and development for affordable and portable assistive devices for the visually impaired. Granted there are many assistive devices on the market that are able to detect obstacles, and numerous research and development currently in process to alleviate the cause, unfortunately the cost of devices, size of devices, intrusiveness and higher learning curve prevents the visually impaired from taking advantage of available devices. This project aims at the design and implementation of a detachable unit which is robust, low cost and user friendly, thus, trying to aggrandize the functionality of the existing white cane, to concede above-knee obstacle detection. The designed obstruction detector uses ultrasound sensors for detecting the obstructions before direct contact. It bestows haptic feedback to the user in accordance with the position of the obstacle.

Keywords: Visually impaired, Ultrasonic sensors, Obstruction detector, Mobility aid

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Authors: Sheena Christabel Pravin, M. Palanivelan

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Speech disfluencies are common in spontaneous speech. The primary purpose of this study was to distinguish linguistic disfluencies from stuttering disfluencies in bilingual Tamil–English (TE) speaking children. The secondary purpose was to determine whether their disfluencies are mediated by native language dominance and/or on an early onset of developmental stuttering at childhood. A detailed study was carried out to identify the prosodic and acoustic features that uniquely represent the disfluent regions of speech. This paper focuses on statistical modeling of repetitions, prolongations, pauses and interjections in the speech corpus encompassing bilingual spontaneous utterances from school going children – English and Tamil. Two classifiers including Hidden Markov Models (HMM) and the Multilayer Perceptron (MLP), which is a class of feed-forward artificial neural network, were compared in the classification of disfluencies. The results of the classifiers document the patterns of disfluency in spontaneous speech samples of school-aged children to distinguish between Children Who Stutter (CWS) and Children with Language Impairment CLI). The ability of the models in classifying the disfluencies was measured in terms of F-measure, Recall, and Precision.

Keywords: Bilingual, children who stutter, children with language impairment, Hidden Markov Models, multi-layer perceptron, linguistic disfluencies, stuttering disfluencies.

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Authors: Fauziah Hanim Tafri, Zarinah Hamid, Ahamed Kameel Mydin Meera, Mohd Azmi Omar

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This paper examines the relationship between financial risks and profitability of the conventional and Islamic banks in Malaysia for the period between 1996 and 2005. The measures of profitability that have been used in the study are the return on equity (ROE) and return on assets (ROA) while the financial risks are credit risk, interest rate risk and liquidity risks. This study employs panel data regression analysis of Generalised Least Squares of fixed effects and random effects models. It was found that credit risk has a significant impact on ROA and ROE for the conventional as well as the Islamic banks. The relationship between interest rate risk and ROE were found to be weakly significant for the conventional banks and insignificant for the Islamic banks. The effect of interest rate risk on ROA is significant for the conventional banks. Liquidity risk was found to have an insignificant impact on both profitability measures.

Keywords: Credit risk, interest rate risk, liquidity risk, market risk, profitability.

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Authors: Yousef S. Al-Othman

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The growth and expansion of the industrial facilities comes proportional to the market increasing demand of products and services. Furthermore, raw material producers such as oil companies usually undergo massive revamping projects to maintain a synchronized supply. These revamping projects are usually delivered through challenging construction projects held and associated with daily site risks related to the construction process. Henceforth, a case study related to these risks and corresponding on-spot corrective measurements has been made on a certain number of construction project contractors at Kuwait Oil Company (KOC) to derive the benefits and overall effectiveness of the on-spot corrective measurements during the construction phase of a project, and how would the same help in avoiding major incidents, ensuring a smooth, cost effective and on time delivery of the project. Findings of this case study shall have an added value to the overall risk management process by minimizing the daily site risks that may affect the project lead time, resulting in an undisturbed on-site construction process.

Keywords: Oil and gas, risk management, construction projects, project lead time.

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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: Stefaan Pauwels, Koen Inghelbrecht, Dries Heyman, Pieter Marius

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Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.

Keywords: technical trading rules, Reality Check, Superior Predictive Ability, emerging stock markets, data snooping

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Authors: Abu Bakar Sedek Abdul Jamak, Rohani Salleh, Subarna Sivapalan, Azrai Abdullah

Abstract:

This research focuses on micro-enterprise of Malaysian Malays that are involved in very small-scaled business activities. Among them include food stall and burger stall operators, night market hawkers, grocery store operators as well as construction and small service activities works. The study seeks to explore why some micro-entrepreneurs still lag in entrepreneurship and what needs to be rectified. This quantitative study is conducted on 173 Malay micro-enterprise owners (MEOs) and 58 Malay failed microenterprise owners (FMEOs) involved in all range of businesses throughout the state of Perak, Malaysia. The main aims are to identify the gaps between the failed micro-enterprise owners (FMEOs) and existing micro-enterprise owners (MEOs) and the problems faced among FMEOs. The results reveal that the MEOs had strong motivations and better marketing approaches as compared to FMEOs. Furthermore, the FMEOs failed in the business ventures mainly due to lack of management, sales and marketing skills and poor competitive abilities to keep up with rivals.

Keywords: Micro-enterprises, Malays, entrepreneurship, Malaysia

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Authors: Karim Heidari

Abstract:

Semantic Web Technologies enable machines to interpret data published in a machine-interpretable form on the web. At the present time, only human beings are able to understand the product information published online. The emerging semantic Web technologies have the potential to deeply influence the further development of the Internet Economy. In this paper we propose a scenario based research approach to predict the effects of these new technologies on electronic markets and business models of traders and intermediaries and customers. Over 300 million searches are conducted everyday on the Internet by people trying to find what they need. A majority of these searches are in the domain of consumer ecommerce, where a web user is looking for something to buy. This represents a huge cost in terms of people hours and an enormous drain of resources. Agent enabled semantic search will have a dramatic impact on the precision of these searches. It will reduce and possibly eliminate information asymmetry where a better informed buyer gets the best value. By impacting this key determinant of market prices semantic web will foster the evolution of different business and economic models. We submit that there is a need for developing these futuristic models based on our current understanding of e-commerce models and nascent semantic web technologies. We believe these business models will encourage mainstream web developers and businesses to join the “semantic web revolution."

Keywords: E-Commerce, E-Business, Semantic Web, XML.

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Authors: Hu-Hsiao Hsu, Po-Ren Chung, Ming-Chin Ho, Chieh-Feng Tsai, Che-Ming Chiang, Shin-Ku Lee

Abstract:

Lighting upgrades involve relatively lower costs which allow the benefits to be spread more widely than is possible with any other energy efficiency measure. In order to popularize the adoption of CFL in Taiwan, the authority proposes to implement a new energy efficient lamp comparative label system. The current study was accordingly undertaken to investigate the factors affecting the performance and the deviation of actual and labeled performance of commercially available integrated CFLs. In this paper, standard test methods to determine the electrical and photometric performances of CFL were developed based on CIE 84-1989 and CIE 60901-1987, then 55 selected CFLs from market were tested. The results show that with higher color temperature of CFLs lower efficacy are achieved. It was noticed that the most packaging of CFL often lack the information of Color Rendering Index. Also, there was no correlation between price and performance of the CFLs was indicated in this work. The results of this paper might help consumers to make more informed CFL-purchasing decisions.

Keywords: Compact fluorescent lamp (CFL), Efficacy, Color Rendering Index (CRI), Energy saving.

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Authors: M. Othman, N. Bhuiyan, G. J. Gouw

Abstract:

In today-s competitive market, most companies develop manufacturing systems that can help in cost reduction and maximum quality. Human issues are an important part of manufacturing systems, yet most companies ignore their effects on production performance. This paper aims to developing an integrated workforce planning system that incorporates the human being. Therefore, a multi-objective mixed integer nonlinear programming model is developed to determine the amount of hiring, firing, training, overtime for each worker type. This paper considers a workforce planning model including human aspects such as skills, training, workers- personalities, capacity, motivation, and learning rates. This model helps to minimize the hiring, firing, training and overtime costs, and maximize the workers- performance. The results indicate that the workers- differences should be considered in workforce scheduling to generate realistic plans with minimum costs. This paper also investigates the effects of human learning rates on the performance of the production systems.

Keywords: Human Factors, Learning Curves, Workers' Differences, Workforce Scheduling

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