Search results for: Asset allocation

Authors: Chimaobi V. Okolo, Afamefuna J. Ani, Ebere U. Okolo

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This paper seeks to assess the implications of insurance to foreign direct investment inflow in Nigeria. Multiple linear regression technique and correlation matrix test were employed to measure the extent to which foreign direct investment was influenced. The result showed that insurance premium (IP), asset size of insurance industry (AS), and total investment of the industry (TI) impacted significantly and positively on foreign direct investment inflow in Nigeria. There should be effective risk transfer mechanism and financial intermediation, which gives the investor confidence in the risk management strength of the host country.

Keywords: Foreign direct investment, insurance.

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Authors: Su-Hyun Jung, Chang-Bin Ha, Hyoung-Kyu Song

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Recently, increasing the quality of experience (QoE) is an important issue. Since performance degradation at cell edge extremely reduces the QoE, several techniques are defined at LTE/LTE-A standard to remove inter-cell interference (ICI). However, the conventional techniques have disadvantage because there is a trade-off between resource allocation and reliable communication. The proposed scheme reduces the ICI more efficiently by using channel state information (CSI) smartly. It is shown that the proposed scheme can reduce the ICI with fewer resources.

Keywords: Adaptive beam forming, CoMP, LTE-A, ICI reduction.

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Authors: Yanqun Li, Hong Geng

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The occurrence of Wenchuan earthquake in 2008 has led to severe damage to the rural areas of Chengdu city, such as the rupture of the social network, the stagnation of economic production and the rupture of living space. The post-disaster reconstruction has become a sustainable issue. As an important link to maintain the order of rural social development, social network should be an important content of post-disaster reconstruction. Therefore, this paper takes rural reconstruction communities in earthquake-stricken areas of Chengdu as the research object and adopts sociological research methods such as field survey, observation and interview to try to understand the transformation of rural social relations network under the influence of earthquake and its impact on rural space. It has found that rural societies under the earthquake generally experienced three phases: the break of stable social relations, the transition of temporary non-normal state, and the reorganization of social networks. The connotation of phased rural social relations also changed accordingly: turn to a new division of labor on the social orientation, turn to a capital flow and redistribution in new production mode on the capital orientation, and turn to relative decentralization after concentration on the spatial dimension. Along with such changes, rural areas have emerged some social issues such as the alienation of competition in the new industry division, the low social connection, the significant redistribution of capital, and the lack of public space. Based on a comprehensive review of these issues, this paper proposes the corresponding response mechanism. First of all, a reasonable division of labor should be established within the villages to realize diversified commodity supply. Secondly, the villages should adjust the industrial type to promote the equitable participation of capital allocation groups. Finally, external public spaces should be added to strengthen the field of social interaction within the communities.

Keywords: Social relations, social support networks, industrial division, capital allocation, public space.

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Authors: Hossein Amoozad Khalili, Anahita Maleki

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Normally business changes are made in order to change a level of activity in some way, whether it is sales, cash flow, productivity, or product portfolio. When attempts are made to make such changes, too often the business reverts to the old levels of activity as soon as management attention is diverted. Risk management is a field of growing interest to project managers as well as in general business and organizational management. There are several approaches used to manage risk in projects and this paper is a brief outline of some that you might encounter, with an indication of their strengths and weaknesses.

Keywords: Risk Management, Project Management, Scheduling, Planning

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Authors: Azelin Mohamed Noor, Abd Mutalib Embong, Muhamad Ridhuan Tony Lim Abdullah

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After the Terengganu state government decided to give a boost in teaching and learning through the allocation of free ebooks to all Primary five and six students; it was time to examine the presence of e-books in the classrooms. A survey was conducted on 101 students to determine how they felt about using the e-book and their experiences. It was discovered that a majority of these students liked using the e-book. However, although they had little problems using the e-book and the e-book helped to lighten the schoolbags, these new-age textbooks were not fully utilized. It is implied that perhaps the school administrators, teachers and students may not be able to overcome the unfamiliar characteristics of the e-book and its limitations.

Keywords: E-books, students, classroom, limitations

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Authors: F. Keller, G. Reinhart

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The efficient and economic allocation of resources is one main goal in the field of production planning and control. Nowadays, a new variable gains in importance throughout the planning process: Energy. Energy-efficiency has already been widely discussed in literature, but with a strong focus on reducing the overall amount of energy used in production. This paper provides a brief systematic approach, how energy-supply-orientation can be used for an energy-cost-efficient production planning and thus combining the idea of energy-efficiency and energy-flexibility.

Keywords: Production planning and control, energy, efficiency, flexibility.

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Authors: Heng Ma

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Third-party warehousing logistics has an important role in the development of external logistics. At present, the third-party logistics in our country is still a new industry, the accounting system has not yet been established, the current financial accounting system of third-party warehousing logistics is mainly in the traditional way of thinking, and only able to provide the total cost information of the entire enterprise during the accounting period, unable to reflect operating indirect cost information. In order to solve the problem of third-party logistics industry cost information distortion, improve the level of logistics cost management, the paper combines theoretical research and case analysis method to reflect cost allocation by building third-party logistics costing model using Time-Driven Activity-Based Costing(TDABC), and takes S company as an example to account and control the warehousing logistics cost.Based on the idea of “Products consume activities and activities consume resources”, TDABC put time into the main cost driver and use time-consuming equation resources assigned to cost objects. In S company, the objects focuses on three warehouse, engaged with warehousing and transportation (the second warehouse, transport point) service. These three warehouse respectively including five departments, Business Unit, Production Unit, Settlement Center, Security Department and Equipment Division, the activities in these departments are classified by in-out of storage forecast, in-out of storage or transit and safekeeping work. By computing capacity cost rate, building the time-consuming equation, the paper calculates the final operation cost so as to reveal the real cost.The numerical analysis results show that the TDABC can accurately reflect the cost allocation of service customers and reveal the spare capacity cost of resource center, verifies the feasibility and validity of TDABC in third-party logistics industry cost accounting. It inspires enterprises focus on customer relationship management and reduces idle cost to strengthen the cost management of third-party logistics enterprises.

Keywords: Third-party logistics enterprises, TDABC, cost management, S company.

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Authors: Pelaez Verdet, Antonio, Loscertales Sanchez, Pilar

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One of the mayor problems of programming a cruise circuit is to decide which destinations to include and which don-t. Thus a decision problem emerges, that might be solved using a linear and goal programming approach. The problem becomes more complex if several boats in the fleet must be programmed in a limited schedule, trying their capacity matches best a seasonal demand and also attempting to minimize the operation costs. Moreover, the programmer of the company should consider the time of the passenger as a limited asset, and would like to maximize its usage. The aim of this work is to design a method in which, using linear and goal programming techniques, a model to design circuits for the cruise company decision maker can achieve an optimal solution within the fleet schedule.

Keywords: Itinerary design, cruise programming, goalprogramming, linear programming

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Authors: Qiu Dong-Fang, Li Bao-bao, Min Xing

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Low-carbon economy means the energy conservation and emission reduction. How to measure and evaluate the regional low-carbon economy is an important problem which should be solved immediately. This paper proposed the eco-efficiency ratio based on the ecological efficiency to evaluate the current situation of the low-carbon economy in Jiangsu province and to analyze the efficiency of the low-carbon economy in Jiangsu and other provinces, compared both advantages and disadvantages. And then this paper put forward some advices for the government to formulate the correct development policy of low-carbon economy, to improve the technology innovation capacity and the efficiency of resource allocation.

Keywords: Eco-efficiency ratio, Jiangsu, China, low-carbon economy.

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Authors: W. Mughees, M. Al-Ahmad, M. Naeem

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This research involves the design and analysis of pinch-based water/wastewater networks to minimize water utility in the petrochemical and petroleum industries. A study has been done on Tehran Oil Refinery to analyze feasibilities of regeneration, reuse and recycling of water network. COD is considered as a single key contaminant. Amount of freshwater was reduced about 149m3/h (43.8%) regarding COD. Re-design (or retrofitting) of water allocation in the networks was undertaken. The results were analyzed through graphical method and mathematical programming technique which clearly demonstrated that amount of required water would be determined by mass transfer of COD.

Keywords: Minimization, Water Pinch, Water Management, Pollution Prevention.

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Authors: Chuang-Hung Lin, Cheng-Yuan Hsu, Jia-Yan Lin

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It is an indispensible strategy to adopt greenery approach on architectural bases so as to improve ecological habitats, decrease heat-island effect, purify air quality, and relieve surface runoff as well as noise pollution, all of which are done in an attempt to achieve sustainable environment. How we can do with plant design to attain the best visual quality and ideal carbon dioxide fixation depends on whether or not we can appropriately make use of greenery according to the nature of architectural bases. To achieve the goal, it is a need that architects and landscape architects should be provided with sufficient local references. Current greenery studies focus mainly on the heat-island effect of urban with large scale. Most of the architects still rely on people with years of expertise regarding the adoption and disposition of plantation in connection with microclimate scale. Therefore, environmental design, which integrates science and aesthetics, requires fundamental research on landscape environment technology divided from building environment technology. By doing so, we can create mutual benefits between green building and the environment. This issue is extremely important for the greening design of the bases of green buildings in cities and various open spaces. The purpose of this study is to establish plant selection and allocation strategies under different building sunshade levels. Initially, with the shading of sunshine on the greening bases as the starting point, the effects of the shades produced by different building types on the greening strategies were analyzed. Then, by measuring the PAR (photosynthetic active radiation), the relative DLI (daily light integral) was calculated, while the DLI Map was established in order to evaluate the effects of the building shading on the established environmental greening, thereby serving as a reference for plant selection and allocation. The discussion results were to be applied in the evaluation of environment greening of greening buildings and establish the “right plant, right place” design strategy of multi-level ecological greening for application in urban design and landscape design development, as well as the greening criteria to feedback to the eco-city greening buildings.

Keywords: Daily light integral, plant design, urban open space.

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Authors: Mohammad H. Almomani, Rosmanjawati Abdul Rahman

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In this paper, we consider the effect of the initial sample size on the performance of a sequential approach that used in selecting a good enough simulated system, when the number of alternatives is very large. We implement a sequential approach on M=M=1 queuing system under some parameter settings, with a different choice of the initial sample sizes to explore the impacts on the performance of this approach. The results show that the choice of the initial sample size does affect the performance of our selection approach.

Keywords: Ranking and Selection, Ordinal Optimization, Optimal Computing Budget Allocation, Subset Selection, Indifference-Zone, Initial Sample Size.

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Authors: Mikulas Patocka

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This paper presents an architecture of current filesystem implementations as well as our new filesystem SpadFS and operating system Spad with rewritten VFS layer targeted at high performance I/O applications. The paper presents microbenchmarks and real-world benchmarks of different filesystems on the same kernel as well as benchmarks of the same filesystem on different kernels – enabling the reader to make conclusion how much is the performance of various tasks affected by operating system and how much by physical layout of data on disk. The paper describes our novel features–most notably continuous allocation of directories and cross-file readahead – and shows their impact on performance.

Keywords: Filesystem, operating system, VFS, performance, readahead

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Authors: Libena Cernohorska, Veronika Linhartova, Michal Sinka, Petr Teply

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The term private equity usually refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. Some researchers believe that private equity contributed to the extent of the crisis and increased the pace of its spread over the world. We do not agree with this. On the other hand, we argue that during the economic recession private equity might become an important source of funds for firms with special needs (e.g. for firms seeking buyout financing, venture capital, expansion capital or distress debt financing). However, over-regulation of private equity in both the European Union and the US can slow down this specific funding channel to the economy and deepen credit crunch during global crises.

Keywords: scredit lunch, distress debt, global crisis, private equity, regulation

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Authors: B. Mouginot, J.B. Clavel, N Thiolliere

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The presented work is motivated by a french law regarding nuclear waste management. In order to avoid the limitation coming with the usage of the existing scenario codes, as COSI, VISION or FAMILY, the Core Library for Advance Scenario Simulation (CLASS) is being develop. CLASS is an open source tool, which allows any user to simulate an electronuclear scenario. The main CLASS asset, is the possibility to include any type of reactor, even a complitely new concept, through the generation of its ACSII evolution database. In the present article, the CLASS working basis will be presented as well as a simple exemple in order to show his potentiel. In the considered exemple, the effect of the transmutation will be assessed on Minor Actinide Inventory produced by PWR reactors.

Keywords: Electronuclear scenario, reactor, simulation, nuclear waste.

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Authors: Carmen Navarrete, Eloy Anguiano

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In the last years, the computers have increased their capacity of calculus and networks, for the interconnection of these machines. The networks have been improved until obtaining the actual high rates of data transferring. The programs that nowadays try to take advantage of these new technologies cannot be written using the traditional techniques of programming, since most of the algorithms were designed for being executed in an only processor,in a nonconcurrent form instead of being executed concurrently ina set of processors working and communicating through a network.This paper aims to present the ongoing development of a new system for the reconfiguration of grouping of computers, taking into account these new technologies.

Keywords: Dynamic network topology, resource and task allocation, parallel computing, heterogeneous computing, dynamic reconfiguration.

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Authors: H. Urbancova, J. Urbanec

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Today the intangible assets are the capital of knowledge and are the most important and the most valuable resource for organizations. All employees have knowledge independently of the kind of jobs they do. Knowledge is thus an asset, which influences business operations. The objective of this article is to identify knowledge continuity as an objective of business continuity management. The article has been prepared based on the analysis of secondary sources and the evaluation of primary sources of data by means of a quantitative survey conducted in the Czech Republic. The conclusion of the article is that organizations that apply business continuity management do not focus on the preservation of the knowledge of key employees. Organizations ensure knowledge continuity only intuitively, on a random basis, non-systematically and discontinuously. The non-ensuring of knowledge continuity represents a threat of loss of key knowledge for organizations and can also negatively affect business continuity.

Keywords: Business continuity, knowledge, organizations, survey.

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Authors: Dong-Woo Lim, Chang-Jae Chun, Hyung-Myung Kim

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We consider a two-way relay network where two sources exchange information. A relay helps the two sources exchange information using the decode-and-XOR-forward protocol. We investigate the power minimization problem with minimum rate constraints. The system needs two time slots and in each time slot the required rate pair should be achievable. The power consumption is minimized in each time slot and we obtained the closed form solution. The simulation results confirm that the proposed power allocation scheme consumes lower total power than the conventional schemes.

Keywords: Decode-and-XOR-forward, power minimization, two-way relay

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Authors: M. Arja, G. Sauce, B. Souyri

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Overall cost is a significant consideration in any decision-making process. Although many studies were carried out on overall cost in construction, little has treated the uncertainties of real life cycle development. On the basis of several case studies, a feedback process was performed on the historical data of studied buildings. This process enabled to identify some factors causing uncertainty during the operational period. As a result, the research proposes a new method for assessing the overall cost during a part of the building-s life cycle taking account of the building actual value, its end-of-life value and the influence of the identified life cycle uncertainty factors. The findings are a step towards a higher level of reliability in overall cost evaluation taking account of some usually unexpected uncertainty factors.

Keywords: Asset management, building life cycle uncertainty, building value, overall cost.

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Authors: Ahmed Mateen, Zhu Qingsheng, Ahmad Bilal

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In the current age of technology, information is the most precious asset of a company. Today, companies have a large amount of data. As the data become larger, access to data for some particular information is becoming slower day by day. Faster data processing to shape it in the form of information is the biggest issue. The major problems in distributed databases are the efficiency of data distribution and response time of data distribution. The security of data distribution is also a big issue. For these problems, we proposed a strategy that can maximize the efficiency of data distribution and also increase its response time. This technique gives better results for secure data distribution from multiple heterogeneous sources. The newly proposed technique facilitates the companies for secure data sharing efficiently and quickly.

Keywords: ER-schema, electronic record, P2P framework, API, query formulation.

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Authors: Dimitrios J. Dimitriou

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Airport’s serving a tourist destination are an essential counterpart of the tourist demand supply chain, and their productivity is related to the region’s attractiveness and is enhanced by the air transport business. In this paper, the evaluation framework of the scheduled flights between two tourist airports is taken into consideration. By adopting a systemic approach, the arrivals from an airport that its connectivity heavily depended on the departures of another major airport are reviewed. The methodology framework, based on inventory control theory and the numerical example, promotes the use of the modelling formulation. The results would be essential for comparison and exercising to other similar cases.

Keywords: Airport connectivity, inventory control, optimization, optimum allocation.

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Authors: Hromada Martin

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Risk analysis is considered as a fundamental aspect relevant for ensuring the level of critical infrastructure protection, where the critical infrastructure is seen as system, asset or its part which is important for maintaining the vital societal functions. Article actually discusses and analyzes the potential application of selected tools of information support for the implementation and within the framework of risk analysis and critical infrastructure protection. Use of the information in relation to their risk analysis can be viewed as a form of simplifying the analytical process. It is clear that these instruments (information support) for these purposes are countless, so they were selected representatives who have already been applied in the selected area of critical infrastructure, or they can be used. All presented fact were the basis for critical infrastructure resilience evaluation methodology development.

Keywords: Critical infrastructure, Protection, Resilience, Risk Analysis.

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Authors: M. Adamski, J. Cwiklak

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The contemporary battlefield creates a demand for more costly and highly advanced munitions. Training personnel responsible for operations as well as immediate execution of combat tasks which engage real asset is unrealistic and economically not feasible. Owing to a wide array of exploited simulators and various types of imitators, it is possible to reduce the costs. One of the effective elements of training, which can be applied in the training of all service branches, is imitator of aerial targets. This research serves as an introduction to the commencement of design analysis over a real aerial target imitator. Within the project, the basic aerodynamic calculations were made, which enabled to determine its geometry, design layout, performance as well as mass balance of individual components. The conducted calculations of the parameters of flight characteristics come closer to the real performance of such Unmanned Aerial Vehicles.

Keywords: Aerial target, aerodynamics, imitator, performance.

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Authors: H. D. Ibrahim, H. C. Chinwenyi, T. Danjuma

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An option is defined as a financial contract that provides the holder the right but not the obligation to buy or sell a specified quantity of an underlying asset in the future at a fixed price (called a strike price) on or before the expiration date of the option. This paper examined two approaches for derivation of Partial Differential Equation (PDE) options price valuation formula for the Heston stochastic volatility model. We obtained various PDE option price valuation formulas using the riskless portfolio method and the application of Feynman-Kac theorem respectively. From the results obtained, we see that the two derived PDEs for Heston model are distinct and non-unique. This establishes the fact of incompleteness in the model for option price valuation.

Keywords: Option price valuation, Partial Differential Equations, Black-Scholes PDEs, Ito process.

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Authors: Shashwat Gangwal

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This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: Portfolio management, Bitcoin, optimization, Sharpe ratio.

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Authors: Komlan Sedzro

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We apply the non-parametric, unconditional, hyperbolic order-α quantile estimator to appraise the relative efficiency of Microfinance Institutions in Africa in terms of outreach. Our purpose is to verify if these institutions, which must constantly try to strike a compromise between their social role and financial sustainability are operationally efficient. Using data on African MFIs extracted from the Microfinance Information eXchange (MIX) database and covering the 2004 to 2006 periods, we find that more efficient MFIs are also the most profitable. This result is in line with the view that social performance is not in contradiction with the pursuit of excellent financial performance. Our results also show that large MFIs in terms of asset and those charging the highest fees are not necessarily the most efficient.

Keywords: Data envelopment analysis, microfinance institutions, quantile estimation of efficiency, social and financial performance.

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Authors: Ramin Halavati, Saeed B. Shouraki, Mahdieh Noroozian, Saman H. Zadeh

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Packing problems arise in a wide variety of application areas. The basic problem is that of determining an efficient arrangement of different objects in a region without any overlap and with minimal wasted gap between shapes. This paper presents a novel population based approach for optimizing arrangement of irregular shapes. In this approach, each shape is coded as an agent and the agents' reproductions and grouping policies results in arrangements of the objects in positions with least wasted area between them. The approach is implemented in an application for cutting sheets and test results on several problems from literature are presented.

Keywords: Optimization, Bin Packing, Agent Based Systems.

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Authors: Anju Sharma, Seema Bawa

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Resource Discovery in Grids is critical for efficient resource allocation and management. Heterogeneous nature and dynamic availability of resources make resource discovery a challenging task. As numbers of nodes are increasing from tens to thousands, scalability is essentially desired. Peer-to-Peer (P2P) techniques, on the other hand, provide effective implementation of scalable services and applications. In this paper we propose a model for resource discovery in Condor Middleware by using the four axis framework defined in P2P approach. The proposed model enhances Condor to incorporate functionality of a P2P system, thus aim to make Condor more scalable, flexible, reliable and robust.

Keywords: Condor Middleware, Grid Computing, P2P, Resource Discovery.

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Authors: Helene Le Cadre

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Three service providers in competition, try to optimize their quality of service / content level and their service access price. But, they have to deal with uncertainty on the consumers- preferences. To reduce their uncertainty, they have the opportunity to buy information and to build alliances. We determine the Shapley value which is a fair way to allocate the grand coalition-s revenue between the service providers. Then, we identify the values of β (consumers- sensitivity coefficient to the quality of service / contents) for which allocating the grand coalition-s revenue using the Shapley value guarantees the system stability. For other values of β, we prove that it is possible for the regulator to impose a per-period interest rate maximizing the market coverage under equal allocation rules.

Keywords: Alliance, Shapley value, Stability, Repeated game, Interest rate.

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Authors: Jieun Kim, Haejin Cho, Yongtae Park, Yoonjo Kim, Jeonghwan Jeon

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As creative economy is important theme for national policy, many countries have been raising investments through national R&D programs. Since not all of programs are aligned with the ultimate vision and R&D investment is one of the most decisive elements, the strategic fit of national R&D programs should be evaluated for effective resource allocation. This study aims at identifying the factors of strategic fit of national R&D program on the creative economy policy. For this purpose, the balanced scorecard (BSC) model for R&D is utilized to translate national strategic objectives into a set of coherent performance factors.

Keywords: Balanced scorecard, Creative economy, National R&D program, Strategic fit.

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