Search results for: Fixed Assets
551 Ontology-based Query System for UNITEN Postgraduate Students
Authors: Zaihisma C. Cob, Alicia Y.C. Tang, Sharifah J. Syed Aziz
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This paper proposes a new model to support user queries on postgraduate research information at Universiti Tenaga Nasional. The ontology to be developed will contribute towards shareable and reusable domain knowledge that makes knowledge assets intelligently accessible to both people and software. This work adapts a methodology for ontology development based on the framework proposed by Uschold and King. The concepts and relations in this domain are represented in a class diagram using the Protégé software. The ontology will be used to support a menudriven query system for assisting students in searching for information related to postgraduate research at the university.Keywords: Ontology, Protégé, postgraduate program, query system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1681550 Service Identification Approach to SOA Development
Authors: Nafise Fareghzadeh
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Service identification is one of the main activities in the modeling of a service-oriented solution, and therefore errors made during identification can flow down through detailed design and implementation activities that may necessitate multiple iterations, especially in building composite applications. Different strategies exist for how to identify candidate services that each of them has its own benefits and trade offs. The approach presented in this paper proposes a selective identification of services approach, based on in depth business process analysis coupled with use cases and existing assets analysis and goal service modeling. This article clearly emphasizes the key activities need for the analysis and service identification to build a optimized service oriented architecture. In contrast to other approaches this article mentions some best practices and steps, wherever appropriate, to point out the vagueness involved in service identification.Keywords: SOA, service identification, service taxonomy, service layer.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3088549 Social Networks and Absorptive Capacity
Authors: Rachelle Bosua, Nina Evans
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The resource-based view of the firm regards knowledge as one of the most important organizational assets and a key strategic resource that contributes unique value to organizations. The acquisition, absorption and internalization of external knowledge are central to an organization-s innovative capabilities. This ability to evaluate, acquire and integrate new knowledge from its environment is referred to as a firm-s absorptive capacity (AC). This research in progress paper explores the link between interorganizational Social Networks (SNs) and a firm-s Absorptive Capacity (AC). Based on an in-depth literature survey of both concepts, four propositions are proposed that explain the link between AC and SNs. These propositions suggest that SNs are key to a firm-s AC. A qualitative research method is proposed to test the set of propositions in the next stage of this research.Keywords: Knowledge, Innovation, Absorptive Capacity, Social Networks
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1747548 Factors of Competitiveness in the Wine Industry: an Analysis of Innovation Strategy
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The search for competitive advantages as one of the main activities of a company has become a principle of contemporary theories on Strategic Management. Innovation facilitates a company's adaptation to the global competitive environment, representing the important strategic role that it has to play in relation to managerial performance and, as such, underlines the growing importance of innovation and the use of a company's technological assets. This paper therefore studies the effect in the results of four dimensions of technological innovation strategy on a sample of Spanish wineries, situated in the Castilla La-Mancha region of Spain, all of which are registered under the La Mancha Designation of Origin (DO).Keywords: Company's strategy, factors of competitiveness, innovation strategy, wine industry
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2482547 Housing Rehabilitation as a Means of Urban Regeneration and Population Integration
Authors: Andreas L. Savvides
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The proposed paper examines strategies whose aim is to counter the all too often sighted process of abandonment that characterizes contemporary cities. The city of Nicosia in Cyprus is used as an indicative case study, whereby several recent projects are presented as capitalizing on traditional cultural assets to revive the downtown. The reuse of existing building stock as museums, performing arts centers and theaters but also as in the form of various housing typologies is geared to strengthen the ranks of local residents and to spur economic growth. Unlike the examples from the 1960s, the architecture of more recent adaptive reuse for urban regeneration seems to be geared in reinforcing a connection to the city where the buildings often reflect the characteristics of their urban context.Keywords: Public Housing, Building Rehabilitation, Urban Regeneration, Population Integration
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1863546 Knowledge Continuity as a Part of Business Continuity Management
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.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3533545 Basket Option Pricing under Jump Diffusion Models
Authors: Ali Safdari-Vaighani
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Pricing financial contracts on several underlying assets received more and more interest as a demand for complex derivatives. The option pricing under asset price involving jump diffusion processes leads to the partial integral differential equation (PIDEs), which is an extension of the Black-Scholes PDE with a new integral term. The aim of this paper is to show how basket option prices in the jump diffusion models, mainly on the Merton model, can be computed using RBF based approximation methods. For a test problem, the RBF-PU method is applied for numerical solution of partial integral differential equation arising from the two-asset European vanilla put options. The numerical result shows the accuracy and efficiency of the presented method.Keywords: Radial basis function, basket option, jump diffusion, RBF-PUM.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1207544 The Pell Equation x2 − (k2 − k)y2 = 2t
Authors: Ahmet Tekcan
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Let k, t, d be arbitrary integers with k ≥ 2, t ≥ 0 and d = k2 - k. In the first section we give some preliminaries from Pell equations x2 - dy2 = 1 and x2 - dy2 = N, where N be any fixed positive integer. In the second section, we consider the integer solutions of Pell equations x2 - dy2 = 1 and x2 - dy2 = 2t. We give a method for the solutions of these equations. Further we derive recurrence relations on the solutions of these equationsKeywords: Pell equation, solutions of Pell equation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1474543 Bus Transit Demand Modeling and Fare Structure Analysis of Kabul City
Authors: Ramin Mirzada, Takuya Maruyama
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Kabul is the heart of political, commercial, cultural, educational and social life in Afghanistan and the fifth fastest growing city in the world. Minimum income inclined most of Kabul residents to use public transport, especially buses, although there is no proper bus system, beside that there is no proper fare exist in Kabul city Due to wars. From 1992 to 2001 during civil wars, Kabul suffered damage and destruction of its transportation facilities including pavements, sidewalks, traffic circles, drainage systems, traffic signs and signals, trolleybuses and almost all of the public transport system (e.g. Millie bus). This research is mainly focused on Kabul city’s transportation system. In this research, the data used have been gathered by Japan International Cooperation Agency (JICA) in 2008 and this data will be used to find demand and fare structure, additionally a survey was done in 2016 to find satisfaction level of Kabul residents for fare structure. Aim of this research is to observe the demand for Large Buses, compare to the actual supply from the government, analyze the current fare structure and compare it with the proposed fare (distance based fare) structure which has already been analyzed. Outcome of this research shows that the demand of Kabul city residents for the public transport (Large Buses) exceeds from the current supply, so that current public transportation (Large Buses) is not sufficient to serve public transport in Kabul city, worth to be mentioned, that in order to overcome this problem, there is no need to build new roads or exclusive way for buses. This research proposes government to change the fare from fixed fare to distance based fare, invest on public transportation and increase the number of large buses so that the current demand for public transport is met.Keywords: Transportation, planning, public transport, large buses, fixed fare, distance based fare, Kabul, Afghanistan.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1664542 Constructing a Simple Polygonalizations
Authors: V. Tereshchenko, V. Muravitskiy
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We consider the methods of construction simple polygons for a set S of n points and applying them for searching the minimal area polygon. In this paper we propose the approximate algorithm, which generates the simple polygonalizations of a fixed set of points and finds the minimal area polygon, in O (n3) time and using O(n2) memory.Keywords: simple polygon, approximate algorithm, minimal area polygon, polygonalizations
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2222541 Analysis of a Secondary Autothermal Reformer Using a Thermodynamic POX Model
Authors: Akbar Zamaniyan, Alireza Behroozsarand, Hadi Ebrahimi
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Partial oxidation (POX) of light hydrocarbons (e.g. methane) is occurred in the first part of the autothermal reformer (ATR). The results of the detailed modeling of the reformer based on the thermodynamic model of the POX and 1D heterogeneous catalytic model for the fixed bed section are considered here. According to the results, the overall performance of the ATR can be improved by changing the important feed parameters.Keywords: Autothermal Reformer, Partial Oxidation, Mathematical Modeling, Process Simulation, Syngas.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2207540 Utilization of Cement Kiln Dust in Adsorption Technology
Authors: Yousef Swesi, Asia Elmeshergi, Abdelati Elalem, Walid Alfoghy
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This paper involves a study of the heavy metal pollution of the soils around one of cement plants in Libya called Suk-Alkhameas and surrounding urban areas caused by cement kiln dust (CKD) emitted. Samples of soil was collected from sites at four directions around the cement factory at distances 250m, 1000m, and 3000m from the factory and at (0-10)cm deep in the soil. These samples are analyzed for Fe (iii), Zn(ii), and Pb (ii) as major pollutants. These values are compared with soils at 25 Km distances from the factory as a reference or control samples. The results show that the concentration of Fe ions in the surface soil was within the acceptable range of 1000ppm. However, for Zn and Pb ions the concentrations at the east and north sides of the factory were found six fold higher than the benchmark level. This high value was attributed to the wind which blows usually from south to north and from west to east. This work includes an investigation of the adsorption isotherms and adsorption efficiency of CKD as adsorbent of heavy metal ions (Fe (iii), Zn(ii), and Pb(ii)) from the polluted soils of Suk-Alkameas city. The investigation was conducted in batch and fixed bed column flow technique. The adsorption efficiency of the studied heavy metals ions removals onto CKD depends on the pH of the solution. The optimum pH values are found to be in the ranges of 8-10 and decreases at lower pH values. The removal efficiency of these heavy metals ions ranged from 93% for Pb, 94% for Zn, and 98% for Fe ions for 10 g.l-1 adsorbent concentration. The maximum removal efficiency of these ions was achieved at 50-60 minutes contact times at which equilibrium is reached. Fixed bed column experimental measurements are also made to evaluate CKD as an adsorbent for the heavy metals. Results obtained are with good agreement with Langmuir and Drachsal assumption of multilayer formation on the adsorbent surface.
Keywords: Adsorption, Cement Kiln dust (CKD & CAC), Isotherms, Zn and Pb ions.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2406539 Tsunami Inundation Modeling in a Boundary Fitted Curvilinear Grid Model Using the Method of Lines Technique
Authors: M. Ashaque Meah, M. Shah Noor, M Asif Arefin, Md. Fazlul Karim
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A numerical technique in a boundary-fitted curvilinear grid model is developed to simulate the extent of inland inundation along the coastal belts of Peninsular Malaysia and Southern Thailand due to 2004 Indian ocean tsunami. Tsunami propagation and run-up are also studied in this paper. The vertically integrated shallow water equations are solved by using the method of lines (MOL). For this purpose the boundary-fitted grids are generated along the coastal and island boundaries and the other open boundaries of the model domain. A transformation is used to the governing equations so that the transformed physical domain is converted into a rectangular one. The MOL technique is applied to the transformed shallow water equations and the boundary conditions so that the equations are converted into ordinary differential equations initial value problem. Finally the 4th order Runge-Kutta method is used to solve these ordinary differential equations. The moving boundary technique is applied instead of fixed sea side wall or fixed coastal boundary to ensure the movement of the coastal boundary. The extent of intrusion of water and associated tsunami propagation are simulated for the 2004 Indian Ocean tsunami along the west coast of Peninsular Malaysia and southern Thailand. The simulated results are compared with the results obtained from a finite difference model and the data available in the USGS website. All simulations show better approximation than earlier research and also show excellent agreement with the observed data.
Keywords: Open boundary condition, moving boundary condition, boundary-fitted curvilinear grids, far field tsunami, Shallow Water Equations, tsunami source, Indonesian tsunami of 2004.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 865538 Integrating Dependent Material Planning Cycle into Building Information Management: A Building Information Management-Based Material Management Automation Framework
Authors: Faris Elghaish, Sepehr Abrishami, Mark Gaterell, Richard Wise
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The collaboration and integration between all building information management (BIM) processes and tasks are necessary to ensure that all project objectives can be delivered. The literature review has been used to explore the state of the art BIM technologies to manage construction materials as well as the challenges which have faced the construction process using traditional methods. Thus, this paper aims to articulate a framework to integrate traditional material planning methods such as ABC analysis theory (Pareto principle) to analyse and categorise the project materials, as well as using independent material planning methods such as Economic Order Quantity (EOQ) and Fixed Order Point (FOP) into the BIM 4D, and 5D capabilities in order to articulate a dependent material planning cycle into BIM, which relies on the constructability method. Moreover, we build a model to connect between the material planning outputs and the BIM 4D and 5D data to ensure that all project information will be accurately presented throughout integrated and complementary BIM reporting formats. Furthermore, this paper will present a method to integrate between the risk management output and the material management process to ensure that all critical materials are monitored and managed under the all project stages. The paper includes browsers which are proposed to be embedded in any 4D BIM platform in order to predict the EOQ as well as FOP and alarm the user during the construction stage. This enables the planner to check the status of the materials on the site as well as to get alarm when the new order will be requested. Therefore, this will lead to manage all the project information in a single context and avoid missing any information at early design stage. Subsequently, the planner will be capable of building a more reliable 4D schedule by allocating the categorised material with the required EOQ to check the optimum locations for inventory and the temporary construction facilitates.
Keywords: Building information management, BIM, economic order quantity, fixed order point, BIM 4D, BIM 5D.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 910537 Cyber Security in Nigeria: A Collaboration between Communities and Professionals
Authors: K. Alese Boniface, K. Adu Michael, K. Owa Victor
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Security can be defined as the degree of resistance to, or protection from harm. It applies to any vulnerable and valuable assets, such as persons, dwellings, communities, nations or organizations. Cybercrime is any crime committed or facilitated via the Internet. It is any criminal activity involving computers and networks. It can range from fraud to unsolicited emails (spam). It includes the distant theft of government or corporate secrets through criminal trespass into remote systems around the globe. Nigeria like any other nations of the world is currently having her own share of the menace that has been used even as tools by terrorists. This paper is an attempt at presenting cyber security as an issue that requires a coordinated national response. It also acknowledges and advocates the key roles to be played by stakeholders and the importance of forging strong partnerships to prevent and tackle cybercrime in Nigeria.
Keywords: Security, Cybercrime, Internet, Government, Stakeholders, Partnerships.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2817536 A Condition Rating System for Wastewater Treatment Plants Infrastructures
Authors: Altayeb Qasem, Tarek Zayed, Zhi Chen
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Statistics Canada stated that the wastewater treatment facilities in most provinces are aging and passes 63% of their useful life in 2007 the highest ratio among public infrastructure assets. Currently, there is no standard condition rating system for wastewater treatment plants that give a specific rating index that describe the physical integrity of different infrastructure elements in the treatment plant and its environmental performance. The main objective of this study is to develop a condition-rating index for wastewater treatment plants mainly activated sludge systems. The proposed WWTP CRI, is based on dividing the treatment plant into its three treatment phases; primary phase, secondary phase and the tertiary phase. The condition-rating index will reflect the infrastructures state for each phase, mainly tanks, pipes, blowers and pumps.Keywords: Condition rating index, Wastewater treatment plants, AHP- MUAT.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2790535 Almost Periodic Solution for an Impulsive Neural Networks with Distributed Delays
Authors: Lili Wang
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By using the estimation of the Cauchy matrix of linear impulsive differential equations and Banach fixed point theorem as well as Gronwall-Bellman’s inequality, some sufficient conditions are obtained for the existence and exponential stability of almost periodic solution for an impulsive neural networks with distributed delays. An example is presented to illustrate the feasibility and effectiveness of the results.
Keywords: Almost periodic solution, Exponential stability, Neural networks, Impulses.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1615534 PSO-based Possibilistic Portfolio Model with Transaction Costs
Authors: Wei Chen, Cui-you Yao, Yue Qiu
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This paper deals with a portfolio selection problem based on the possibility theory under the assumption that the returns of assets are LR-type fuzzy numbers. A possibilistic portfolio model with transaction costs is proposed, in which the possibilistic mean value of the return is termed measure of investment return, and the possibilistic variance of the return is termed measure of investment risk. Due to considering transaction costs, the existing traditional optimization algorithms usually fail to find the optimal solution efficiently and heuristic algorithms can be the best method. Therefore, a particle swarm optimization is designed to solve the corresponding optimization problem. At last, a numerical example is given to illustrate our proposed effective means and approaches.Keywords: Possibility theory, portfolio selection, transaction costs, particle swarm optimization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1533533 Numerical Simulation of a Conventional Heat Pipe
Authors: Shoeib Mahjoub, Ali Mahtabroshan
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The steady incompressible flow has been solved in cylindrical coordinates in both vapour region and wick structure. The governing equations in vapour region are continuity, Navier-Stokes and energy equations. These equations have been solved using SIMPLE algorithm. For study of parameters variation on heat pipe operation, a benchmark has been chosen and the effect of changing one parameter has been analyzed when the others have been fixed.
Keywords: Vapour region, conventional heat pipe, numerical simulation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4190532 On the Positive Definite Solutions of Nonlinear Matrix Equation
Authors: Tian Baoguang, Liang Chunyan, Chen Nan
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In this paper, the nonlinear matrix equation is investigated. Based on the fixed-point theory, the boundary and the existence of the solution with the case r>-δi are discussed. An algorithm that avoids matrix inversion with the case -1<-δi<0 is proposed.
Keywords: Nonlinear matrix equation, Positive definite solution, The maximal-minimal solution, Iterative method, Free-inversion
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2001531 CybeRisk Management in Banks: An Italian Case Study
Authors: E. Cenderelli, E. Bruno, G. Iacoviello, A. Lazzini
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The financial sector is exposed to the risk of cyber-attacks like any other industrial sector. Furthermore, the topic of CybeRisk (cyber risk) has become particularly relevant given that Information Technology (IT) attacks have increased drastically in recent years, and cannot be stopped by single organizations requiring a response at international and national level. IT risk is never a matter purely for the IT manager, although he clearly plays a key role. A bank's risk management function requires a thorough understanding of the evolving risks as well as the tools and practical techniques available to address them. Upon the request of European and national legislation regarding CybeRisk in the financial system, banks are therefore called upon to strengthen the operational model for CybeRisk management. This will require an important change with a more intense collaboration with the structures that deal with information security for the development of an ad hoc system for the evaluation and control of this type of risk. The aim of the work is to propose a framework for the management and control of CybeRisk that will bridge the gap in the literature regarding the understanding and consideration of CybeRisk as an integral part of business management. The IT function has a strong relevance in the management of CybeRisk, which is perceived mainly as operational risk, but with a positive tendency on the part of risk management to the identification of CybeRisk assessment methods that are increasingly complete, quantitative and able to better describe the possible impacts on the business. The paper provides answers to the research questions: Is it possible to define a CybeRisk governance structure able to support the comparison between risk and security? How can the relationships between IT assets be integrated into a cyberisk assessment framework to guarantee a system of protection and risks control? From a methodological point of view, this research uses a case study approach. The choice of “Monte dei Paschi di Siena” was determined by the specific features of one of Italy’s biggest lenders. It is chosen to use an intensive research strategy: an in-depth study of reality. The case study methodology is an empirical approach to explore a complex and current phenomenon that develops over time. The use of cases has also the advantage of allowing the deepening of aspects concerning the "how" and "why" of contemporary events, on which the scholar has little control. The research bases on quantitative data and qualitative information obtained through semi-structured interviews of an open-ended nature and questionnaires to directors, members of the audit committee, risk, IT and compliance managers, and those responsible for internal audit function and anti-money laundering. The added value of the paper can be seen in the development of a framework based on a mapping of IT assets from which it is possible to identify their relationships for purposes of a more effective management and control of cyber risk.
Keywords: Bank, CybeRisk, information technology, risk management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1426530 Effect of Incentives on Knowledge Sharing and Learning – Evidence from the Indian IT Sector
Authors: Asish O. Mathew, Lewlyn L. R. Rodrigues
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The organizations in the knowledge economy era have recognized the importance of building knowledge assets for sustainable growth and development. In comparison to other industries, Information Technology (IT) enterprises, holds an edge in developing an effective Knowledge Management (KM) programmethanks to their in-house technological abilities. This paper tries to study the various knowledge based incentive programmes and its effect on Knowledge Sharing and Learning in the context of the Indian IT sector. A conceptual model is developed linking KM Incentives, Knowledge Sharing and Learning. A questionnaire study is conducted to collect primary data from the knowledge workers of the IT organizations located in India. The data was analysed using Structural Equation Modeling using Partial Least Square method. The results show a strong influence of knowledge management incentives on knowledge sharing and an indirect influence on learning.
Keywords: Knowledge Management, Knowledge Management Incentives, Knowledge Sharing, Learning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3690529 Existence of Solution of Nonlinear Second Order Neutral Stochastic Differential Inclusions with Infinite Delay
Authors: Yong Li
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The paper is concerned with the existence of solution of nonlinear second order neutral stochastic differential inclusions with infinite delay in a Hilbert Space. Sufficient conditions for the existence are obtained by using a fixed point theorem for condensing maps.
Keywords: Mild solution, Convex multivalued map, Neutral stochastic differential inclusions.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1604528 Study on the Self-Location Estimate by the Evolutional Triangle Similarity Matching Using Artificial Bee Colony Algorithm
Authors: Yuji Kageyama, Shin Nagata, Tatsuya Takino, Izuru Nomura, Hiroyuki Kamata
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In previous study, technique to estimate a self-location by using a lunar image is proposed.We consider the improvement of the conventional method in consideration of FPGA implementationin this paper. Specifically, we introduce Artificial Bee Colony algorithm for reduction of search time.In addition, we use fixed point arithmetic to enable high-speed operation on FPGA.
Keywords: SLIM, Artificial Bee Colony Algorithm, Location Estimate.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1980527 Bail-in Capital: The New Box
Authors: Manu Krishnan, Phil Jacoby
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In this paper, we discuss the paradigm shift in bank capital from the “gone concern" to the “going concern" mindset. We then propose a methodology for pricing a product of this shift called Contingent Capital Notes (“CoCos"). The Merton Model can determine a price for credit risk by using the firm-s equity value as a call option on those assets. Our pricing methodology for CoCos also uses the credit spread implied by the Merton Model in a subsequent derivative form created by John Hull et al . Here, a market implied asset volatility is calculated by using observed market CDS spreads. This implied asset volatility is then used to estimate the probability of triggering a predetermined “contingency event" given the distanceto- trigger (DTT). The paper then investigates the effect of varying DTTs and recovery assumptions on the CoCo yield. We conclude with an investment rationale.Keywords: CoCo, Contingent capital, Bank Capital, Tier1 Capital
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1544526 Researching on the Grey Incidence among the Macroscopic Agents in the Logistics Industry System
Authors: Yanfeng Chu, Ruizhen Zhang
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Quantitative researching on the degree of incidence between the logistics industry and relevant macroscopic system elements is the basis of reasonable and scientific policy on industrial development. In the light of the macro-level, the logistics industry system is consisted of multiple macroscopic agents such as macro-economic, infrastructure, social environment, market demanding, the traditional industry, industry life cycle, policy , system and so on. This paper studies the grey incidence among the macroscopic agents in the logistics industry system. It is demonstrated that the releasing of the logistics services from the logistics outsourcing enterprises determines the growth of the logistics size. Although the information and communication technology is able to promote the formation of the modern logistics industry to some extent, the development of the modern logistics industry depends more on the development of national economy and the investment in the capital assets of the logistics industry.
Keywords: Logistics industry, industrial system, industry incidence.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1363525 Fuzzy Clustering Analysis in Real Estate Companies in China
Authors: Jianfeng Li, Feng Jin, Xiaoyu Yang
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This paper applies fuzzy clustering algorithm in classifying real estate companies in China according to some general financial indexes, such as income per share, share accumulation fund, net profit margins, weighted net assets yield and shareholders' equity. By constructing and normalizing initial partition matrix, getting fuzzy similar matrix with Minkowski metric and gaining the transitive closure, the dynamic fuzzy clustering analysis for real estate companies is shown clearly that different clustered result change gradually with the threshold reducing, and then, it-s shown there is the similar relationship with the prices of those companies in stock market. In this way, it-s great valuable in contrasting the real estate companies- financial condition in order to grasp some good chances of investment, and so on.
Keywords: Fuzzy clustering algorithm, data mining, real estate company, financial analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1916524 Application of the Experimental Planning Design to the Notched Precracked Tensile Fracture of Composite
Authors: N. Mahmoudi
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Composite materials have important assets compared to traditional materials. They bring many functional advantages: lightness, mechanical resistance and chemical, etc. In the present study we examine the effect of a circular central notch and a precrack on the tensile fracture of two woven composite materials. The tensile tests were applied to a standardized specimen, notched and a precarcked (orientation of the crack 0°, 45° and 90°). These tensile tests were elaborated according to an experimental planning design of the type 23.31 requiring 24 experiments with three repetitions. By the analysis of regression, we obtained a mathematical model describing the maximum load according to the influential parameters (hole diameter, precrack length, angle of a precrack orientation). The specimens precracked at 90° have a better behavior than those having a precrack at 45° and still better than those having of the precracks oriented at 0°. In addition the maximum load is inversely proportional to the notch size.
Keywords: Polymer matrix, Glasses, Fracture.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1859523 Variable Regularization Parameter Normalized Least Mean Square Adaptive Filter
Authors: Young-Seok Choi
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We present a normalized LMS (NLMS) algorithm with robust regularization. Unlike conventional NLMS with the fixed regularization parameter, the proposed approach dynamically updates the regularization parameter. By exploiting a gradient descent direction, we derive a computationally efficient and robust update scheme for the regularization parameter. In simulation, we demonstrate the proposed algorithm outperforms conventional NLMS algorithms in terms of convergence rate and misadjustment error.Keywords: Regularization, normalized LMS, system identification, robustness.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1876522 Certain Important Aspects of Cost Contribution Arrangements in Financial Management
Authors: Tomáš Brabenec
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Cost contribution arrangements (CCAs) and Cost sharing agreements (CCAs) belong to the tools of modern finance management. Costs spend by associated enterprises on developing producing or obtaining assets, services or rights (in general - benefits) are used for tax optimizing too. The main purpose of joint research and development, producing or obtaining benefits is to lower these costs as much as possible or to maximize the benefits. In this article is mentioned the problematic of transfer pricing and arm's length principle with connection of CCAs, CSAs. Next, there is mentioned how to settle participation shares of the total cost and benefits contributions with respect to the OECD Transfer pricing for MNEs Guidelines and with respect to other significant regulations.Keywords: Arm's length principle, Cost contribution arrangements, Cost sharing agreements, Reasonable anticipated benefits, Relevant costs, Transfer prices.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3659