Search results for: critical point

Authors: Hastuti Saptorini

Abstract:

The urbanization phenomenon in Yogyakarta Special Province, Indonesia, encouraged people move to the city for getting jobs in the informal sectors. They live in some temporary houses in the three main riverbanks: Gadjahwong, Code, and Winongo. Triggered by its independent status they use it as the space for accommodating domestic, social and economy activities because of the non standardized room size of their houses, where are recognized as the environmental hazards. This recognition makes the ambivalent perception when was related to the twelfth point of the philosophy of community development concept: the empowering individuals and communities. Its spatial implication have actually described the territory and the place making phenomena. By analyzing some data collected the author-s fundamental research funded by The General Directorate of Higher Education of Indonesia, this paper will discuss how do the spatial implications of the occupants- behavior and the numerous perceptions of those phenomena.

Keywords: occupants' behavior, socio-economic-cultural activities, spatial implication

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Authors: D. E. Gourgoulis, C. G. Yakinthos, M. G. Vassiliadou

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With high speed vessels getting ever more sophisti-cated, travelling at higher and higher speeds and operating in With high speed vessels getting ever more sophisticated, travelling at higher and higher speeds and operating in areas of high maritime traffic density, training becomes of the highest priority to ensure that safety levels are maintained, and risks are adequately mitigated. Training onboard the actual craft on the actual route still remains the most effective way for crews to gain experience. However, operational experience and incidents during the last 10 years demonstrate the need for supplementary training whether in the area of simulation or man to man, man/ machine interaction. Training and familiarisation of the crew is the most important aspect in preventing incidents. The use of simulator, computer and web based training systems in conjunction with onboard training focusing on critical situations will improve the man machine interaction and thereby reduce the risk of accidents. Today, both ship simulator and bridge teamwork courses are now becoming the norm in order to improve further emergency response and crisis management skills. One of the main causes of accidents is the human factor. An efficient way to reduce human errors is to provide high-quality training to the personnel and to select the navigators carefully.areas of high maritime traffic density, training becomes of the highest priority to ensure that safety levels are maintained, and risks are adequately mitigated. Training onboard the actual craft on the actual route still remains the most effective way for crews to gain experience. How-ever, operational experience and incidents during the last 10 years demonstrate the need for supplementary training whether in the area of simulation or man to man, man/ machine interaction. Training and familiarisation of the crew is the most important aspect in preventing incidents. The use of simulator, computer and web based training systems in conjunction with onboard training focusing on critical situations will improve the man machine interaction and thereby reduce the risk of accidents. Today, both ship simulator and bridge teamwork courses are now becoming the norm in order to improve further emergency response and crisis management skills. One of the main causes of accidents is the human factor. An efficient way to reduce human errors is to provide high-quality training to the person-nel and to select the navigators carefully. KeywordsCBT - WBT systems, Human factors.

Keywords: CBT - WBT systems, Human factors.

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Authors: Jana Kisková, Dana Gabriková

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Monoamine oxidase A gene (MAOA) is suggested to be a candidate gene implicated in many neuropsychiatric disorders, including autism spectrum disorder (ASD). This meta-analytic review evaluates the relationship between ASD and MAOA markers such as 30 bp variable number tandem repeats in the promoter region (uVNTR) and single nucleotide polymorphisms (SNPs) by using findings from recently published studies. It seems that in Caucasian males, the risk of developing ASD increase with the presence of 4- repeat allele in the promoter region of MAOA gene whereas no differences were found between autistic patients and controls in Egyptian, West Bengal and Korean population. Some studies point to the importance of specific haplotype groups of SNPs and interaction of MAOA with others genes (e. g. FOXP2 or SRY). The results of existing studies are insufficient and further research is needed.

Keywords: Autism spectrum disorder, MAOA, uVNTR, single nucleotide polymorphism.

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Authors: F. Saptouw

Abstract:

This paper briefly reviews the range of curatorial interventions made to preserve and display the Timbuktu Manuscripts. The government of South Africa and Mali collaborated to preserve the manuscripts, and brief notes will be presented about the value of archives in those specific spaces. The research initiatives of the Tombouctou Manuscripts Project, based at the University of Cape Town, feature prominently in the text. A brief overview of the history of the archive will be presented and its preservation as a key turning point in curating the intellectual history of the continent. ­­­The strategies of preservation, curation, publication and digitization are presented as complimentary interventions. Each materialization of the manuscripts contributes something significant; the complexity of the contribution is dependent primarily on the format of presentation. This integrated reading of the manuscripts is presented as a means to gain a more nuanced understanding of the past, which greatly surpasses how much information would be gleaned from relying on a single media format.

Keywords: Archive, curatorship, cultural heritage, museum practice, Timbuktu manuscripts.

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Authors: Zeynep Turhan

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This review emphasizes the effectiveness of men’s participation in preventing domestic violence, and whether nonviolent (NV) boys’ and men’s perceptions of intimate partner violence (IPV) prevention programs affect their involvement. The main goals of this assessment were to investigate (1) how NV men engaged in anti-violence prevention programs that empower women, (2) what were the possible perceptions of NV men involved in prevention programs (3) how to identify effective approaches and strategies that encouraged NV men to become involved in prevention programs. This critical review also included the overview of prevention programs such as: The Mentors in Violence Prevention Programs (MVP), The White Ribbon Campaign (WRC), and Domestic Violence Prevention Enhancement and Leadership through Alliances (DELTA). The review suggested that (1) the expanding prevention programs need to reach more macro settings such as work place, faith-based and other community based organizations, and (2) territory prevention programs should expand through addressing the long-term effects of violence.

Keywords: Engagement, intimate partner violence, non-violent men, prevention programs.

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Authors: J. Augutis, R. Krikstolaitis, L. Martisauskas

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Recently global concerns for the energy security have steadily been on the increase and are expected to become a major issue over the next few decades. Energy security refers to a resilient energy system. This resilient system would be capable of withstanding threats through a combination of active, direct security measures and passive or more indirect measures such as redundancy, duplication of critical equipment, diversity in fuel, other sources of energy, and reliance on less vulnerable infrastructure. Threats and disruptions (disturbances) to one part of the energy system affect another. The paper presents methodology in theoretical background about energy system as an interconnected network and energy supply disturbances impact to the network. The proposed methodology uses a network flow approach to develop mathematical model of the energy system network as the system of nodes and arcs with energy flowing from node to node along paths in the network.

Keywords: Energy Security, Energy Supply Disturbances, Modeling of Energy System, Network Flow

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Authors: Christine L. Cole

Abstract:

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

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

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Authors: 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: Constantin Barbulescu, Gh. Vuc, Stefan Kilyeni, Dan Jigoria-Oprea, Oana Pop

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Perhaps no single issue has been cited as either the root cause and / or the greatest challenge to the restructured power system then the lack of adequate reliable transmission. Probabilistic transmission planning has become increasingly necessary and important in recent years. The transmission planning analysis carried out by the authors, spans a 10-year horizon, taking into consideration a value of 2 % load increase / year at each consumer. Taking into consideration this increased load, a probabilistic power flow was carried out, all the system components being regarded from probabilistic point of view. Several contingencies have been generated, for assessing the security of the power system. The results have been analyzed and several important conclusions were pointed. The objective is to achieve a network that works without limit violations for all (or most of) scenario realizations. The case study is represented by the IEEE 14 buses test power system.

Keywords: Contingency, load, operating state, probabilistic power flow, transmission planning

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Authors: Pil Un Kim, Yunjung Lee, Gihyoun Lee, Jin Ho Cho, Myoung Nam Kim

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In this paper, the vessel inscribed trigonometry (VITM) for the vessel progression orientation (VPO) is proposed in the two-dimensional fundus image. The VPO is a major factor in the optic disc (OD) detection which is a basic process in the retina analysis. To measure the VPO, skeletons of vessel are used. First, the vessels are classified into three classes as vessel end, vessel branch and vessel stem. And the chain code maps of VS are generated. Next, two farthest neighborhoods of each point on VS are searched by the proposed angle restriction. Lastly, a gradient of the straight line between two farthest neighborhoods is estimated to measure the VPO. VITM is validated by comparing with manual results and 2D Gaussian templates. It is confirmed that VPO of the proposed mensuration is correct enough to detect OD from the results of experiment which applied VITM to detect OD in fundus images.

Keywords: Angle measurement, Optic disc, Retina vessel, Vessel progression orientation.

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Authors: M. A. Torkamani, S. Mahmoodzadeh, S. Pourroostaei, C. Lucas

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Daily production of information and importance of the sequence of produced data in forecasting future performance of market causes analysis of data behavior to become a problem of analyzing time series. But time series that are very complicated, usually are random and as a result their changes considered being unpredictable. While these series might be products of a deterministic dynamical and nonlinear process (chaotic) and as a result be predictable. Point of Chaotic theory view, complicated systems have only chaotically face and as a result they seem to be unregulated and random, but it is possible that they abide by a specified math formula. In this article, with regard to test of strange attractor and biggest Lyapunov exponent probability of chaos on several foreign exchange rates vs. IRR (Iranian Rial) has been investigated. Results show that data in this market have complex chaotic behavior with big degree of freedom.

Keywords: Chaos, Exchange Rate, Nonlinear Models.

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Authors: Karandeep Singh, Baibing Li

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Traffic density, an indicator of traffic conditions, is one of the most critical characteristics to Intelligent Transport Systems (ITS). This paper investigates recursive traffic density estimation using the information provided from inductive loop detectors. On the basis of the phenomenological relationship between speed and density, the existing studies incorporate a state space model and update the density estimate using vehicular speed observations via the extended Kalman filter, where an approximation is made because of the linearization of the nonlinear observation equation. In practice, this may lead to substantial estimation errors. This paper incorporates a suitable transformation to deal with the nonlinear observation equation so that the approximation is avoided when using Kalman filter to estimate the traffic density. A numerical study is conducted. It is shown that the developed method outperforms the existing methods for traffic density estimation.

Keywords: Density estimation, Kalman filter, speed-densityrelationship, Traffic surveillance.

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Authors: Abolghasem Yazdani, Sara Pourjafar

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This study has applied the L16 orthogonal array of the Taguchi method to determine the optimized polymeric Nanocomposite asphalt binder. Three control factors are defined as polypropylene plastomer (PP), styrene-butadiene-styrene elastomer (SBS) and Nanoclay. Four level of concentration contents are introduced for prepared asphalt binder samples. all samples were prepared with 4.5% of bitumen 60/70 content. Compressive strength tests were carried out for defining the optimized sample via QUALITEK-4 software. SBS with 3%, PP with 5 % and Nanoclay with 1.5% of concentrations are defined as the optimized Nanocomposite asphalt binders. The confirmation compressive strength and also softening point tests showed that modification of asphalt binders with this method, improved the compressive strength and softening points of asphalt binders up to 55%.

Keywords: modified asphalt, Polypropylene, SBS, Nanoclay, Taguchi method

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Authors: Supaporn Wimonchailerk

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This research aims to critical analyze the feminine violent within Thai daily newspaper. This study was qualitative base; content analysis from two popular newspapers (Thairath and Dailynews) two qualitative newspapers (Thaipost and Mathichon). Purposive sampling was used to select eleven specialize news reporters to do in-depth interview. The result found that, popular newspapers, Thairath and dailynews have presented feminine violent news in their paper more than Thaipost and Mathichon the qualitative newspaper. Beside, majority of sample present the feminine violent within news under the code of ethic, The National Press Council of Thailand. Interesting, the age of feminine violent victim was the information that has been focused most. The popular newspaper have illustrated crime scene photo on their first-page while qualitative newspaper used only headline to present the same news.

Keywords: Ethic, Feminine, Journalism, Newspaper, Violent Victim.

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Authors: Philippe Fauquet-Alekhine

Abstract:

For professions of high risk industries, simulation training has always been thought in terms of high degree of fidelity regarding the real operational situation. Due to the recent progress, this way of training is changing, modifying the human-computer and software interactions: the interactions between trainees during simulation training session tend to become virtual, transforming the social-based embodiness (the way subjects integrate social skills for interpersonal relationship with co-workers). On the basis of the analysis of eight different profession trainings, a categorization of interactions has help to produce an analytical tool, the social interactions table. This tool may be very valuable to point out the changes of social interactions when the training sessions are skipping from a high fidelity simulator to a virtual simulator. In this case, it helps the designers of professional training to analyze and to assess the consequences of the potential lack the social-based embodiness.

Keywords: Interface, interaction, simulator, virtual training.

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Authors: Nazeema Ahmed

Abstract:

Mental health in higher education has received increasing attention over the past few decades. The high academic demands of the engineering degree, coupled with students’ mental health challenges, have led to higher education institutions offering psychotherapeutic services to students. This paper discusses an evaluation of the psychotherapy service at the University of Cape Town. The aim was to determine (i) the efficacy of the service; and (ii) the impact of race, gender, and language of the therapist on the students’ therapeutic process. An online survey was sent to 109 students who attended psychotherapy. The majority expressed favorable experiences of psychotherapy, with reports of increased capacity to engage with their academic work. Most students did not experience the gender, race, or language of the psychologists to be barriers to their therapy. The findings point to a need for ongoing psychological support for students.

Keywords: Psychotherapy, efficacy, engineering, education.

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Authors: Mohammad Rakibul Islam

Abstract:

Link reliability and transmitted power are two important design constraints in wireless network design. Error control coding (ECC) is a classic approach used to increase link reliability and to lower the required transmitted power. It provides coding gain, resulting in transmitter energy savings at the cost of added decoder power consumption. But the choice of ECC is very critical in the case of wireless sensor network (WSN). Since the WSNs are energy constraint in nature, both the BER and power consumption has to be taken into count. This paper develops a step by step approach in finding suitable error control codes for WSNs. Several simulations are taken considering different error control codes and the result shows that the RS(31,21) fits both in BER and power consumption criteria.

Keywords: Error correcting code, RS, BCH, wireless sensor networks.

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Authors: N. Valliammal, S.N. Geethalakshmi

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This paper describes an optimal approach for feature subset selection to classify the leaves based on Genetic Algorithm (GA) and Kernel Based Principle Component Analysis (KPCA). Due to high complexity in the selection of the optimal features, the classification has become a critical task to analyse the leaf image data. Initially the shape, texture and colour features are extracted from the leaf images. These extracted features are optimized through the separate functioning of GA and KPCA. This approach performs an intersection operation over the subsets obtained from the optimization process. Finally, the most common matching subset is forwarded to train the Support Vector Machine (SVM). Our experimental results successfully prove that the application of GA and KPCA for feature subset selection using SVM as a classifier is computationally effective and improves the accuracy of the classifier.

Keywords: Optimization, Feature extraction, Feature subset, Classification, GA, KPCA, SVM and Computation

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Authors: Sokjoon Lee, Howon Kim, Kyoil Chung

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RFID system, in which we give identification number to each item and detect it with radio frequency, supports more variable service than barcode system can do. For example, a refrigerator with RFID reader and internet connection will automatically notify expiration of food validity to us. But, in spite of its convenience, RFID system has some security threats, because anybody can get ID information of item easily. One of most critical threats is privacy invasion. Existing privacy protection schemes or systems have been proposed, and these schemes or systems defend normal users from attempts that any attacker tries to get information using RFID tag value. But, these systems still have weakness that attacker can get information using analogous value instead of original tag value. In this paper, we mention this type of attack more precisely and suggest 'Tag Broker Model', which can defend it. Tag broker in this model translates original tag value to random value, and user can only get random value. Attacker can not use analogous tag value, because he/she is not able to know original one from it.

Keywords: Broker, EPC, Privacy, RFID.

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Authors: Jaswinder Kaur, Satwinder Singh, Karanjeet Singh Kahlon

Abstract:

Accurate software cost estimates are critical to both developers and customers. They can be used for generating request for proposals, contract negotiations, scheduling, monitoring and control. The exact relationship between the attributes of the effort estimation is difficult to establish. A neural network is good at discovering relationships and pattern in the data. So, in this paper a comparative analysis among existing Halstead Model, Walston-Felix Model, Bailey-Basili Model, Doty Model and Neural Network Based Model is performed. Neural Network has outperformed the other considered models. Hence, we proposed Neural Network system as a soft computing approach to model the effort estimation of the software systems.

Keywords: Effort Estimation, Neural Network, Halstead Model, Walston-Felix Model, Bailey-Basili Model, Doty Model.

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Authors: Nasser Mohamed Ramli, Mohamad Syafiq Mohamad

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Many types of controllers were applied on the continuous stirred tank reactor (CSTR) unit to control the temperature. In this research paper, Proportional-Integral-Derivative (PID) controller are compared with Fuzzy Logic controller for temperature control of CSTR. The control system for temperature non-isothermal of a CSTR will produce a stable response curve to its set point temperature. A mathematical model of a CSTR using the most general operating condition was developed through a set of differential equations into S-function using MATLAB. The reactor model and S-function are developed using m.file. After developing the S-function of CSTR model, User-Defined functions are used to link to SIMULINK file. Results that are obtained from simulation and temperature control were better when using Fuzzy logic control compared to PID control.

Keywords: CSTR, temperature, PID, fuzzy logic.

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Authors: Kyoung Hoon Kim

Abstract:

ORC (Organic Rankine Cycle) has potential of reducing consumption of fossil fuels and has many favorable characteristics to exploit low-temperature heat sources. In this work thermodynamic performance of ORC with regeneration is comparatively assessed for various working fluids. Special attention is paid to the effects of system parameters such as the turbine inlet pressure on the characteristics of the system such as net work production, heat input, volumetric flow rate per 1 MW of net work and quality of the working fluid at turbine exit as well as thermal efficiency. Results show that for a given source the thermal efficiency generally increases with increasing of the turbine inlet pressure however has optimal condition for working fluids of low critical pressure such as iso-pentane or n-pentane.

Keywords: low-grade energy source, organic Rankine cycle(ORC), regeneration, Patel-Teja equation.

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Authors: S.C. Chin, N. Shafiq, M.F. Nuruddin

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In the modern construction practices, industrial wastes or by-products are largely used as raw materials in cement and concrete. These impart many benefits to the environment and bringabout an economic impact because the cost of waste disposal is constantly increasing due to strict environmental regulations. It was reported in literature that the leakage of oil onto concrete element in older cement grinding unit resulted in concrete with greater resistance to freezing and thawing. This effect was thought to be similar to adding an air-entraining chemical admixture to concrete. This paper presents an investigation on the load deflection behaviour and crack patterns of reinforced concrete (RC) beams subjected to four point loading. Ten 120x260x1900 mm beams were cast with 100% ordinary Portland cement (OPC) concrete, 20% fly ash (FA) and 20% rice husk ash (RHA) blended cement concrete. 0.15% dosage of admixtures (used engine oil, new engine oil, and superplasticizer) was used throughout the experiment. Results show that OPC and OPC/RHA RC beams containing used engine oil and superplasticizer exhibit higher capacity, 18-26% than their corresponding control mix.

Keywords: by-products, RC beams, superplasticizer, used engine oil

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Authors: M. Mahdavi, M. Ismail, K. Jumari, Z. M. Hanapi

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For the sensor network to operate successfully, the active nodes should maintain both sensing coverage and network connectivity. Furthermore, scheduling sleep intervals plays critical role for energy efficiency of wireless sensor networks. Traditional methods for sensor scheduling use either sensing coverage or network connectivity, but rarely both. In this paper, we use random scheduling for sensing coverage and then turn on extra sensor nodes, if necessary, for network connectivity. Simulation results have demonstrated that the number of extra nodes that is on with upper bound of around 9%, is small compared to the total number of deployed sensor nodes. Thus energy consumption for switching on extra sensor node is small.

Keywords: Wireless sensor networks, energy efficient network, performance analysis, network coverage.

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Authors: T. Hashimoto, N. Miki, H. Maki

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We report the size dependence of 1D superconductivity in ultrathin (10-130 nm) nanowires produced by coating suspended carbon nanotubes with a superconducting NbN thin film. The resistance-temperature characteristic curves for samples with ≧25 nm wire width show the superconducting transition. On the other hand, for the samples with 10-nm width, the superconducting transition is not exhibited owing to the quantum size effect. The differential resistance vs. current density characteristic curves show some peak, indicating that Josephson junctions are formed in nanowires. The presence of the Josephson junctions is well explained by the measurement of the magnetic field dependence of the critical current. These understanding allow for the further expansion of the potential application of NbN, which is utilized for single photon detectors and so on.

Keywords: NbN nanowire, carbon nanotube, quantum size effect, Josephson junction

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Authors: Igor Astrov, Andrus Pedai

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This paper focuses on a critical component of the situational awareness (SA), the control of autonomous vertical flight for tactical unmanned aerial vehicle (TUAV). With the SA strategy, we proposed a two stage flight control procedure using two autonomous control subsystems to address the dynamics variation and performance requirement difference in initial and final stages of flight trajectory for a nontrivial nonlinear eight-rotor helicopter model. This control strategy for chosen model of mini-TUAV has been verified by simulation of hovering maneuvers using software package Simulink and demonstrated good performance for fast stabilization of engines in hovering, consequently, fast SA with economy in energy of batteries can be asserted during search-andrescue operations.

Keywords: Flight control, eight-rotor helicopter, situational awareness, tactical unmanned aerial vehicle

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Authors: Shine U P, EMS Nair

Abstract:

Fatigue is the major threat in service of steel structure subjected to fluctuating loads. With the additional effect of corrosion and presence of weld joints the fatigue failure may become more critical in structural steel. One of the apt examples of such structural is the sailing ship. This is experiencing a constant stress due to floating and a pulsating bending load due to the waves. This paper describes an attempt to verify theory of fatigue in fracture mechanics approach with experimentation to determine the constants of crack growth curve. For this, specimen is prepared from the ship building steel and it is subjected to a pulsating bending load with a known defect. Fatigue crack and its nature is observed in this experiment. Application of fracture mechanics approach in fatigue with a simple practical experiment is conducted and constants of crack growth equation are investigated.

Keywords: fatigue, fracture mechanics, fatigue testing machine

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Authors: M. Maronek, J. Barta, P. Palcek, K. Ulrich

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Low carbon deep drawing steel DC 01 according to EN 10130-91 was nitrooxidized in dissociated ammonia at 580°C/45 min and consequently oxidised at 380°C/5 min in vapour of distilled water. Material after nitrooxidation had 54 % increase of yield point, 34 % increase of strength and 10-times increased resistance to atmospheric corrosion in comparison to the material before nitrooxidation. The microstructure of treated material consisted of thin ε-phase layer connected to layer containing precipitated massive needle shaped Fe4N - γ' nitrides. This layer passed to a diffusion layer consisting of fine irregular shaped Fe16N2 - α'' nitrides regularly dispersed in ferritic matrix. Fatigue properties were examined under bending load with frequency of 20 kHz and sinusoidal symmetric cycle. The results confirmed positive influence of nitrooxidation on fatigue properties as fatigue limit of treated material was double in comparison to untreated material.

Keywords: steel sheet, fatigue, nitrooxidation, S-N diagram

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Authors: Hyun Bae Jin, Myung Jin Kim, Wui Jun Chung

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The impeller and the casing are the key components of a centrifugal pump. Although there have been many studies on the impeller and the volute casing of centrifugal pump, further study of the volute casing to improve the performance of centrifugal pumps is needed. In this paper, the effect of cross-sectional area on the performance of volute casing was investigated using a commercial CFD code. The performance characteristics, not only at the off-design point but also for a full type model are required these days. So we conducted numerical analysis for all operating points by using complete geometry through transient analysis. Transient analysis on the complete geometry of a real product has the advantage of simulating realistic flow. The results of this study show the variation of a performance curve by modifying the above-mentioned design parameter.

Keywords: Centrifugal Pump, Volute Casing, Cross-Section area, CFD

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Authors: Margareta Ilkova, Petr Teply

Abstract:

The article deals with dividends and their distribution from investors from a theoretical point of view. Some studies try to analyzed the reaction of the market on the dividend announcement and found out the change of dividend policy is associated with abnormal returns around the dividend announcement date. Another researches directly questioned the investors about their dividend preference and beliefs. Investors want the dividend from many reasons (e.g. some of them explain the dividend preference by the existence of transaction cost; investors prefer the dividend today, because there is less risky; the managers have private information about the firm). The most controversial theory of dividend policy was developed by Modigliani and Miller (1961) who demonstrated that in the perfect and complete capital markets the dividend policy is irrelevant and the value of the company is independent of its payout policy. Nevertheless, in the real world the capital markets are imperfect, because of asymmetric information, transaction costs, incomplete contracting possibilities and taxes.

Keywords: dividend distribution, taxation, payout policy, investor, Modigliani and Miller theorem

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