Search results for: efficient market hypothesis

Authors: Huseyin Cetin, Halil Akmese, Sercan Aras, Vahit Aytekin

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Economic crisis, terrorism, global crisis and the relations between countries are the factors affecting tourism industry and tourism industry is vulnerable against these factors. In our study, there are two dimensions about Russian crisis. The crisis between Russia and Ukraine and decreased oil prices in global market have been entailed Russian economic crisis. This crisis has induced that the ruble, Russian currency, has depreciated against American dollars and consequently the purchasing power of Russian has weakened. This is the first dimension of our study. Second dimension is a political crisis between Turkey and Russia owing to the fact that the Russian Warcraft was brought down by Turkish army. The aim of this study is to explain the impact of the consequences of Russian crisis on Turkish tourism industry. The study has been limited only Antalya province.

Keywords: Economic crisis, Turkey-Russian crisis, Turkey's tourism industry, tourism in Turkey.

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Authors: Ahmed Amin Mousa, Huda Mazeed, Eman Saad

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The study aims to identify the extent of effectiveness of the artistic formation program using some types of pastes to reduce the hyperactivity of the kindergarten children with learning difficulties. The researchers have discussed the aforesaid topic, where the research sample included 120 children of ages between 5 to 6 years, from five schools for special needs, learning disability section, Cairo Governorate. The study used the quasi-empirical method, which depends on designing one group using the pre& post application measurements for the group to validate both, hypothesis and effectiveness of the program. The variables of the study were specified as follows; artistic formation program using Paper Mache as an independent variable, and its effect on the skills of kindergarten child with learning disabilities, as a dependent variable. The researchers utilized the application of an artistic formation program consisting of artistic and musical skills for kindergarten children with learning disabilities. The tools of the study, designed by the researchers, included: observation card used for recording the culling paper using pulp molding skills for kindergarten children with learning difficulties during practicing the artistic formation activity. Additionally, there was a program utilizing Artistic and Musical Activities for kindergarten children with learning disabilities to acquire educational concepts. The study was composed of 20 lessons for fine art activities and 20 lessons for musical activities, with obligation of giving the musical lesson with art lesson in one session to cast on the kindergarten child some educational concepts.

Keywords: musical activities, developing skills, early childhood, educational concepts, learning difficulties

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Authors: Ana Bobirca, Paul-Gabriel Miclaus

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International competitiveness receives much attention nowadays, but up to now its assessment has been heavily based on manufacturing industry statistics. This paper addresses the need for competitiveness indicators that cover the service sector and sets out a multilevel framework for measuring international services trade competitiveness. The approach undertaken here aims at comparatively examining the international competitiveness of the EU-25 (the twenty-five European Union member states before the 1st of January 2007), Romanian and Bulgarian services trade, as well as the last two countries- structure of specialization on the EU-25 services market. The primary changes in the international competitiveness of three major services sectors – transportation, travel and other services - are analyzed. This research attempts to determine the ability of the two recent European Union (EU) member states to contend with the challenges that might arise from the hard competition within the enlarged EU, in the field of services trade.

Keywords: Bulgaria, EU-25, international competitiveness, international services trade, Romania.

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Authors: Dmitry A. Mikoyelov

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The paper presents a set of guidelines for analysis of industrial embedded distributed systems and introduces a mathematical model derived from these guidelines. In this study, the author examines a set of modern communication technologies that are or possibly can be used to build communication links between the subsystems of a distributed embedded system. An investigation of these guidelines results in a algorithm for analysis of specific use cases of target technologies. A goal of the paper acts as an important base for ongoing research on comparison of communication technologies. The author describes the principles of the model and presents results of the test calculations. Practical implementation of target technologies and empirical experiment data are based on a practical experience during the design and test of specific distributed systems in Latvian market.

Keywords: Distributed embedded system, analytical model, communication technology.

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Authors: Jan Busch, Maurice Schmidt, Peter Nyhuis

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The change of conditions for production companies in high-wage countries is characterized by the globalization of competition and the transition of a supplier´s to a buyer´s market. The companies need to face the challenges of reacting flexibly to these changes. Due to the significant and increasing degree of automation, assembly has become the most expensive production process. Regarding the reduction of production cost, assembly consequently offers a considerable rationalizing potential. Therefore, an aerodynamic feeding system has been developed at the Institute of Production Systems and Logistics (IFA), Leibniz Universitaet Hannover. This system has been enabled to adjust itself by using a genetic algorithm. The longer this genetic algorithm is executed the better is the feeding quality. In this paper, the relation between the system´s setting time and the feeding quality is observed and a function which enables the user to achieve the minimum of the total feeding time is presented.

Keywords: Aerodynamic feeding system, batch size, optimisation, setting time.

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Authors: Sayali Sandbhor, Ravindra Bapat, N. B. Chaphalkar

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Decisions for investment, buying and selling of properties depend upon the market value of that property. Issues arise in arriving at the actual value of the property as well as computing the rate of returns from the estate. Addressing valuation related issues through an understanding of behavior of real property rates provide the means to explore the quality of past decisions and to make valid future decisions. Pune, an important city in India, has witnessed a high rate of growth in past few years. Increased demand for housing and investment in properties has led to increase in the rates of real estate. An attempt has been made to study the change and behavior of rates of real estate and factors influencing the same in Pune city.

Keywords: Real estate, valuation, property rates, trend analysis

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Authors: Shiv Shankar Mishra, S. Wairya, R. K. Nagaria, S. Tiwari

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New methodologies for XOR-XNOR circuits are proposed to improve the speed and power as these circuits are basic building blocks of many arithmetic circuits. This paper evaluates and compares the performance of various XOR-XNOR circuits. The performance of the XOR-XNOR circuits based on TSMC 0.18μm process models at all range of the supply voltage starting from 0.6V to 3.3V is evaluated by the comparison of the simulation results obtained from HSPICE. Simulation results reveal that the proposed circuit exhibit lower PDP and EDP, more power efficient and faster when compared with best available XOR-XNOR circuits in the literature.

Keywords: Exclusive-OR (XOR), Exclusive-NOR (XNOR), High speed, Low power, Arithmetic Circuits.

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Authors: C. A. Barros, Ana P. Barroso

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Any industrial company needs to determine the amount of variation that exists within its measurement process and guarantee the reliability of their data, studying the performance of their measurement system, in terms of linearity, bias, repeatability and reproducibility and stability. This issue is critical for automotive industry suppliers, who are required to be certified by the 16949:2016 standard (replaces the ISO/TS 16949) of International Automotive Task Force, defining the requirements of a quality management system for companies in the automotive industry. Measurement System Analysis (MSA) is one of the mandatory tools. Frequently, the measurement system in companies is not connected to the equipment and do not incorporate the methods proposed by the Automotive Industry Action Group (AIAG). To address these constraints, an R&D project is in progress, whose objective is to develop a web and cloud-based MSA tool. This MSA tool incorporates Industry 4.0 concepts, such as, Internet of Things (IoT) protocols to assure the connection with the measuring equipment, cloud computing, artificial intelligence, statistical tools, and advanced mathematical algorithms. This paper presents the preliminary findings of the project. The web and cloud-based MSA tool is innovative because it implements all statistical tests proposed in the MSA-4 reference manual from AIAG as well as other emerging methods and techniques. As it is integrated with the measuring devices, it reduces the manual input of data and therefore the errors. The tool ensures traceability of all performed tests and can be used in quality laboratories and in the production lines. Besides, it monitors MSAs over time, allowing both the analysis of deviations from the variation of the measurements performed and the management of measurement equipment and calibrations. To develop the MSA tool a ten-step approach was implemented. Firstly, it was performed a benchmarking analysis of the current competitors and commercial solutions linked to MSA, concerning Industry 4.0 paradigm. Next, an analysis of the size of the target market for the MSA tool was done. Afterwards, data flow and traceability requirements were analysed in order to implement an IoT data network that interconnects with the equipment, preferably via wireless. The MSA web solution was designed under UI/UX principles and an API in python language was developed to perform the algorithms and the statistical analysis. Continuous validation of the tool by companies is being performed to assure real time management of the ‘big data’. The main results of this R&D project are: MSA Tool, web and cloud-based; Python API; New Algorithms to the market; and Style Guide of UI/UX of the tool. The MSA tool proposed adds value to the state of the art as it ensures an effective response to the new challenges of measurement systems, which are increasingly critical in production processes. Although the automotive industry has triggered the development of this innovative MSA tool, other industries would also benefit from it. Currently, companies from molds and plastics, chemical and food industry are already validating it.

Keywords: Automotive industry, Industry 4.0, internet of things, IATF 16949:2016, measurement system analysis.

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Authors: Pei-Ju Chao, Tsair-Fwu Lee, Wei-Luen Huang, Long-Chang Chen, Te-Jen Su, Wen-Ping Chen

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The main goal in this paper is to quantify the quality of different techniques for radiation treatment plans, a back-propagation artificial neural network (ANN) combined with biomedicine theory was used to model thirteen dosimetric parameters and to calculate two dosimetric indices. The correlations between dosimetric indices and quality of life were extracted as the features and used in the ANN model to make decisions in the clinic. The simulation results show that a trained multilayer back-propagation neural network model can help a doctor accept or reject a plan efficiently. In addition, the models are flexible and whenever a new treatment technique enters the market, the feature variables simply need to be imported and the model re-trained for it to be ready for use.

Keywords: neural network, dosimetric index, radiation treatment, tumor

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Authors: Mira Trebar

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Logistics processes of perishable food in the supply chain include the distribution activities and the real time temperature monitoring to fulfil the cold chain requirements. The paper presents the use of RFID (Radio Frequency Identification) technology as an identification tool of receiving and shipping activities in the cold store. At the same time, the use of RFID data loggers with temperature sensors is presented to observe and store the temperatures for the purpose of analyzing the processes and having the history data available for traceability purposes and efficient recall management.

Keywords: Logistics, warehouse, RFID device, cold chain.

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Authors: Hock Chuan, Lim

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This paper presents an approach for identifying interactive effects using Network Science (NS) supported by Social Network Analysis (SNA) techniques. Based on general observations that learning processes and behaviors are shaped by the social relationships and influenced by learning environment, the central idea was to understand both the human and non-human interactive effects for a blended learning mode of delivery of computer science modules. Important findings include (a) the importance of non-human nodes to influence the centrality and transfer; (b) the degree of non-human and human connectivity impacts learning. This project reveals that the NS pattern and connectivity as measured by node relationships offer alternative approach for hypothesis generation and design of qualitative data collection. An iterative process further reinforces the analysis, whereas the experimental simulation option itself is an interesting alternative option, a hybrid combination of both experimental simulation and qualitative data collection presents itself as a promising and viable means to study complex scenario such as blended learning delivery mode. The primary value of this paper lies in the design of the approach for studying interactive effects of human (social nodes) and non-human (learning/study environment, Information and Communication Technologies (ICT) infrastructures nodes) components. In conclusion, this project adds to the understanding and the use of SNA to model and study interactive effects in blended social learning.

Keywords: Blended learning, network science, social learning, social network analysis, study environment.

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Authors: Reinhard Haas, Amela Ajanovic

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In recent years various types of electric vehicles has gained again increasing attention as an environmentally benign technology in transport. Especially for urban areas with high local pollution this Zero-emission technology (at the point of use) is considered to provide proper solutions. Yet, the bad economics and the limited driving ranges are still major barriers for a broader market penetration of battery electric vehicles (BEV) and of fuel cell vehicles (FCV). The major result of our analyses is that the most important precondition for a further dissemination of BEV in urban areas are emission-free zones. This is an instrument which allows the promotion of BEV without providing excessive subsidies. In addition, it is important to note that the full benefits of EV can only be harvested if the electricity used is produced from renewable energy sources. That is to say, it has to be ensured that the use of BEV in urban areas is clearly linked to a green electricity purchase model. And moreover, the introduction of a CO2- emission-based tax system would support this requirement.

Keywords: Electric vehicles, economics, policies, history.

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Authors: Svetlana Saksonova

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Every commercial bank optimises its asset portfolio depending on the profitability of assets and chosen or imposed constraints. This paper proposes and applies a stylized model for optimising banks' asset and liability structure, reflecting profitability of different asset categories and their risks as well as costs associated with different liability categories and reserve requirements. The level of detail for asset and liability categories is chosen to create a suitably parsimonious model and to include the most important categories in the model. It is shown that the most appropriate optimisation criterion for the model is the maximisation of the ratio of net interest income to assets. The maximisation of this ratio is subject to several constraints. Some are accounting identities or dictated by legislative requirements; others vary depending on the market objectives for a particular bank. The model predicts variable amount of assets allocated to loan provision.

Keywords: asset structure, commercial bank, model, optimisation

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Authors: R. S. A. Nesbitt, J. Macione, A. Debroy, S. P. Kotha

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Bones are dynamic and responsive organs, they regulate their strength and mass according to the loads which they are subjected. Because, the Wnt/β-catenin pathway has profound effects on the regulation of bone mass, we hypothesized that mechanical loading of bone cells stimulates Wnt/β-catenin signaling, which results in the generation of new bone mass. Mechanical loading triggers the secretion of the Wnt molecule, which after binding to transmembrane proteins, causes GSK-3β (Glycogen synthase kinase 3 beta) to cease the phosphorylation of β-catenin. β-catenin accumulation in the cytoplasm, followed by its transport into the nucleus, binding to transcription factors (TCF/LEF) that initiate transcription of genes related to bone formation. To test this hypothesis, we used TOPGAL (Tcf Optimal Promoter β-galactosidase) mice in an experiment in which cyclic loads were applied to the forearm. TOPGAL mice are reporters for cells effected by the Wnt/β-catenin signaling pathway. TOPGAL mice are genetically engineered mice in which transcriptional activation of β- catenin, results in the production of an enzyme, β-galactosidase. The presence of this enzyme allows us to localize transcriptional activation of β-catenin to individual cells, thereby, allowing us to quantify the effects that mechanical loading has on the Wnt/β-catenin pathway and new bone formation. The ulnae of loaded TOPGAL mice were excised and transverse slices along different parts of the ulnar shaft were assayed for the presence of β-galactosidase. Our results indicate that loading increases β-catenin transcriptional activity in regions where this pathway is already primed (i.e. where basal activity is already higher) in a load magnitude dependent manner. Further experiments are needed to determine the temporal and spatial activation of this signaling in relation to bone formation.

Keywords: Bone Resorption and Formation, Mechanical Loading of Bone, Wnt Signaling Pathway & β-catenin.

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Authors: J.S.C. Prentice

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The RK1GL2X3 method is a numerical method for solving initial value problems in ordinary differential equations, and is based on the RK1GL2 method which, in turn, is a particular case of the general RKrGLm method. The RK1GL2X3 method is a fourth-order method, even though its underlying Runge-Kutta method RK1 is the first-order Euler method, and hence, RK1GL2X3 is considerably more efficient than RK1. This enhancement is achieved through an implementation involving triple-nested two-point Gauss- Legendre quadrature.

Keywords: RK1GL2X3, RK1GL2, RKrGLm, Runge-Kutta, Gauss-Legendre, initial value problem, local error, global error.

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Authors: P. Góes, J. Manzi

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This paper focuses on the development of an energy efficiency index that will be applied to reactive systems, which is based in the First and Second Law of Thermodynamics, by giving particular consideration to the concept of maximum entropy. Among the requirements of such energy efficiency index, the practical feasibility must be essential. To illustrate the performance of the proposed index, such an index was used as decisive factor of evaluation for the optimization process of an industrial reactor. The results allow the conclusion to be drawn that the energy efficiency index applied to the reactive system is consistent because it extracts the information expected of an efficient indicator, and that it is useful as an analytical tool besides being feasible from a practical standpoint. Furthermore, it has proved to be much simpler to use than tools based on traditional methodologies.

Keywords: Energy efficiency, maximum entropy, reactive systems.

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Authors: U. Ramesh Babu, V. Vijaya Kumar Reddy, S. Tara Kalyani

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This paper investigates the performance comparison of SVC (Static VAR Compensator) and DSTATCOM (Distribution Static Synchronous Compensator) to improve voltage stability in Radial Distribution System (RDS) which are efficient FACTS (Flexible AC Transmission System) devices that are capable of controlling the active and reactive power flows in a power system line by appropriately controlling parameters using ANFIS. Simulations are carried out in MATLAB/Simulink environment for the IEEE-4 bus system to test the ability of increasing load. It is found that these controllers significantly increase the margin of load in the power systems.

Keywords: SVC, DSTATCOM, voltage improvement, ANFIS.

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Authors: Qitao Xie, Qingquan Zhang, Xiaofei Zhang, Di Tian, Ruixuan Wen, Ting Zhu, Ping Yi, Xin Li

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Inspired by the recent movement of digital currency, we are building a question answering system concerning the subject of cryptocurrency using Bidirectional Encoder Representations from Transformers (BERT). The motivation behind this work is to properly assist digital currency investors by directing them to the corresponding knowledge bases that can offer them help and increase the querying speed. BERT, one of newest language models in natural language processing, was investigated to improve the quality of generated responses. We studied different combinations of hyperparameters of the BERT model to obtain the best fit responses. Further, we created an intelligent chatbot for cryptocurrency using BERT. A chatbot using BERT shows great potential for the further advancement of a cryptocurrency market tool. We show that the BERT neural networks generalize well to other tasks by applying it successfully to cryptocurrency.

Keywords: BERT, chatbot, cryptocurrency, deep learning.

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Authors: Saeed Mohammed Baneamoon, Rosalina Abdul Salam

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Robotic system is an important area in artificial intelligence that aims at developing the performance techniques of the robot and making it more efficient and more effective in choosing its correct behavior. In this paper the distributed learning classifier system is used for designing a simulated control system for robot to perform complex behaviors. A set of enhanced approaches that support default hierarchies formation is suggested and compared with each other in order to make the simulated robot more effective in mapping the input to the correct output behavior.

Keywords: Learning Classifier System, Default Hierarchies, Robot Behaviors.

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Authors: Gregor Radonjič, Aleksandra P. Korda, Damijan Krajnc

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The aim of the study was to investigate whether there is the promotion of product ecodesign measures as a result of adopting ISO 14001 certification in manufacturing companies in the Republic of Slovenia. Companies gave the most of their product development attention to waste and energy reduction during manufacturing process and reduction of material consumption per unit of product. Regarding the importance of different ecodesign criteria reduction of material consumption per unit of product was reported as the most important criterion. Less attention is paid to endof- life issues considering recycling or packaging. Most manufacturing enterprises considered ISO 14001 standard as a very useful tool or at least a useful tool helping them to accelerate and establish product ecodesign activities. Two most frequently considered ecodesign drivers are increased competitive advantage and legal requirements and two most important barriers are high development costs and insufficient market demand.

Keywords: ecodesign, environmental management system, ISO 14001, products

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Authors: Y. Harold Robinson, M. Rajaram, E. Golden Julie, S. Balaji

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Mobile ad hoc network (MANET) is a self-configuring network of mobile node connected without wires. A Fuzzy Logic Based Collaborative watchdog approach is used to reduce the detection time of misbehaved nodes and increase the overall truthfulness. This methodology will increase the secure efficient routing by detecting the Black Holes attacks. The simulation results proved that this method improved the energy, reduced the delay and also improved the overall performance of the detecting black hole attacks in MANET.

Keywords: MANET, collaborative watchdog, fuzzy logic, AODV.

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Authors: Taiwo. M. Akinmuyisitan, John Cosmas

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This paper practically demonstrates the theories and concepts of an Advanced Convolutional Neural Network in the design and development of a scalable artificial intelligence model for the detection of criminal masterminds. The technique uses machine vision algorithms to compute the facial characteristics of suspects and classify actors as criminal or non-criminal faces. The paper proceeds further to compare the results of the error accuracy of two popular custom convolutional pre-trained networks, VGG16 and Resnet50. The result shows that VGG16 is probably more efficient than ResNet50 for the dataset we used.

Keywords: Artificial intelligence, convolutional neural networks, Resnet50, VGG16.

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Authors: B. Zvirbule, I. Vilka

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The Baltic States regained independence and started the pathway from command economy to market economy and entered European Union at the same time. Latter internationally recognized evaluations for the countries are diverse. The present diversity of the Baltic States -Economic Development is a subject of interest because of the similarities – all three are small, open economies, countries have similar geographic location and initially likewise historical and political backgrounds. This article explains relationship between social environment, business environment and economic growth. It argues that the elements of social environment underlie more successful economic development. It researches the causes, why Estonia has performed better in economic outcomes and development. The article analyses selection of socio-economic indicators of all three Baltic States – Latvia, Lithuania and Estonia for the time period of ten years to include the influence of economic cycles.

Keywords: Baltic States, economic development, economic growth, level of education, social environment.

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Authors: Ie-jung Choi

Abstract:

Since the feasibility study of R&D programs have been initiated for efficient public R&D investments, year 2008, feasibility studies have improved in terms of precision. Although experience related to these studies of R&D programs have increased to a certain point, still methodological improvement is required. The feasibility studies of R&D programs are consisted of various viewpoints, such as technology, policy, and economics. This research is to provide improvement methods to the economic perspective; especially the cost estimation process of R&D activities. First of all, the fundamental concept of cost estimation is reviewed. After the review, a statistical and econometric analysis method is applied as empirical analysis. Conclusively, limitations and further research directions are provided.

Keywords: Cost Estimation, R&D Program, Feasibility AnalysisStudy.

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Authors: Alessandro Barbiero

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This paper proposes, implements and evaluates an original discretization method for continuous random variables, in order to estimate the reliability of systems for which stress and strength are defined as complex functions, and whose reliability is not derivable through analytic techniques. This method is compared to other two discretizing approaches appeared in literature, also through a comparative study involving four engineering applications. The results show that the proposal is very efficient in terms of closeness of the estimates to the true (simulated) reliability. In the study we analyzed both a normal and a non-normal distribution for the random variables: this method is theoretically suitable for each parametric family.

Keywords: Approximation, asymmetry, experimental design, interference theory, Monte Carlo simulations.

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Authors: Pavla Ruzickova, Petr Teply

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There are many debates now regarding undervalued and overvalued currencies currently traded on the world financial market. This paper contributes to these debates from a theoretical point of view. We present the three most commonly used methods of estimating the equilibrium real effective exchange rate (REER): macroeconomic balance approach, external sustainability approach and equilibrium real effective exchange rate approach in the reduced form. Moreover, we discuss key concepts of the calculation of the real exchange rate (RER) based on applied explanatory variables: nominal exchange rates, terms of trade and tradable and non-tradable goods. Last but not least, we discuss the three main driving forces behind real exchange rates movements which include terms of trade, relative productivity growth and the interest rate differential.

Keywords: real exchange rate, real effective exchange rate, foreign exchange, terms of trade

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Authors: Young-Jae Kim, Young-Hwan You

Abstract:

This paper presents a integer frequency offset (IFO) estimation scheme for the 3GPP long term evolution (LTE) downlink system. Firstly, the conventional joint detection method for IFO and sector cell index (CID) information is introduced. Secondly, an IFO estimation without explicit sector CID information is proposed, which can operate jointly with the proposed IFO estimation and reduce the time delay in comparison with the conventional joint method. Also, the proposed method is computationally efficient and has almost similar performance in comparison with the conventional method over the Pedestrian and Vehicular channel models.

Keywords: LTE, OFDMA, primary synchronization signal (PSS), IFO, CID

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: Implied adjusted volatility, Financial crisis, Leland option pricing models.

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Authors: S. Halioui, I. Arikan, M. Schmidt

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Tourism sector in Tunisia faces several problems that range from economic challenges to environmental degradation and social instability. These problems have been intensified because of the increased competition in the tourism market, the political instability, financial crises, and recently terrorism problems have aggravated the situation. As a consequence, a new framework that promotes sustainable tourism in the country and increases its competitiveness is urgently needed. Planning for sustainable tourism sector requires the integration of complex interactions between economic, social and environmental aspects. Sustainable tourism principles can be implemented with the help of Strategic Environmental Assessment (SEA) process, which ensures the full integration of economic, social and environmental considerations while planning for the tourism sector in Tunisia. Results of the paper have broad implications for policy makers and tourism professionals.

Keywords: Sustainable tourism, strategic environmental assessment, tourism planning, policy.

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Authors: Driss Guerchi, Fatiha Djebbar

Abstract:

In this work we introduce an efficient method to limit the impact of the hiding process on the quality of the cover speech. Vector quantization of the speech spectral information reduces drastically the number of the secret speech parameters to be embedded in the cover signal. Compared to scalar hiding, vector quantization hiding technique provides a stego signal that is indistinguishable from the cover speech. The objective and subjective performance measures reveal that the current hiding technique attracts no suspicion about the presence of the secret message in the stego speech, while being able to recover an intelligible copy of the secret message at the receiver side.

Keywords: Speech steganography, LSF vector quantization, fast Fourier transform

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