Search results for: Control of financial flows

Authors: Ben Muenzberg, Prof. Peter Nyhuis

Abstract:

The logistical requirements placed on industrial manufacturing companies are steadily increasing. In order to meet those requirements, a consistent and efficient concept is necessary for production control. Set up properly, production control offers considerable potential with respect to achieving the logistical targets. As experience with the many production control methods already in existence and their compatibility is, however, often inadequate, this article describes a systematic approach to the configuration of production control based on the Lödding model. This model enables production control to be set up individually to suit a company and the requirements. It therefore permits today-s demands regarding logistical performance to be met.

Keywords: Production, planning, control, configuration.

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Authors: Bahram Esmaeili, Hamid Reza Imani Far, Hossein Hosseini, Mohammad Sharifi

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The present study investigated the relationship between personality characteristics of drivers and the number and amount of fines they have in a year .This study was carried out on 120 male taxi drivers that worked at least seven hours in a day in Lamerd - a city in the south of IRAN. Subjects were chosen voluntarily among those available. Predictive variables were the NEO –five great personality factors (1. conscientiousness 2. Openness to Experience 3.Neuroticism4 .Extraversion 5.Agreeableness ) thecriterion variables were the number and amount of fines the drivers have had the last three years. the result of regression analysis showed that conscientiousness factor was able to negatively predict the number and amount of financial fines the drivers had during the last three years. The openness factor positively predicted the number of fines they had in last 3 years and the amount of financial fines during the last year. The extraversion factor both meaningfully and positively could predict only the amount of financial fines they had during the last year. Increasing age was associated with decreasing driving offenses as well as financial loss.The findings can be useful in recognizing the high-risk drivers and leading them to counseling centers .They can also be used to inform the drivers about their personality and it’s relation with their accident rate. Such criteria would be of great importance in employing drivers in different places such as companies, offices etc…

Keywords: drivers, financial fines, neo five-factor personality

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Authors: Rajendra K. Ray, Kim Dan Nguyen

Abstract:

An unstructured finite volume numerical model is presented here for simulating shallow-water flows with wetting and drying fronts. The model is based on the Green-s theorem in combination with Chorin-s projection method. A 2nd-order upwind scheme coupled with a Least Square technique is used to handle convection terms. An Wetting and drying treatment is used in the present model to ensures the total mass conservation. To test it-s capacity and reliability, the present model is used to solve the Parabolic Bowl problem. We compare our numerical solutions with the corresponding analytical and existing standard numerical results. Excellent agreements are found in all the cases.

Keywords: Finite volume method, Projection method, Shallow water, Unstructured grid, wetting/drying fronts.

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Authors: A. Kablan

Abstract:

The prediction of financial time series is a very complicated process. If the efficient market hypothesis holds, then the predictability of most financial time series would be a rather controversial issue, due to the fact that the current price contains already all available information in the market. This paper extends the Adaptive Neuro Fuzzy Inference System for High Frequency Trading which is an expert system that is capable of using fuzzy reasoning combined with the pattern recognition capability of neural networks to be used in financial forecasting and trading in high frequency. However, in order to eliminate unnecessary input in the training phase a new event based volatility model was proposed. Taking volatility and the scaling laws of financial time series into consideration has brought about the development of the Intraday Seasonality Observation Model. This new model allows the observation of specific events and seasonalities in data and subsequently removes any unnecessary data. This new event based volatility model provides the ANFIS system with more accurate input and has increased the overall performance of the system.

Keywords: Adaptive Neuro-fuzzy Inference system, High Frequency Trading, Intraday Seasonality Observation Model.

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Authors: Mustafa Resa Becan

Abstract:

Sliding mode control with a fuzzy boundary layer is presented to hydraulic position control problem in this paper. A nonlinear hydraulic servomechanism which has an asymmetric cylinder is modeled and simulated first, then the proposed control scheme is applied to this model versus the conventional sliding mode control. Simulation results proved that the chattering free position control is achieved by tuning the fuzzy scaling factors properly.

Keywords: Hydraulic servomechanism, position control, sliding mode control, chattering, fuzzy boundary layer.

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Authors: M. Goodarzi, P. Lashgari

Abstract:

A major part of the flow field involves no complicated turbulent behavior in many turbulent flows. In this research work, in order to reduce required memory and CPU time, the flow field was decomposed into several blocks, each block including its special turbulence. A two dimensional backward facing step was considered here. Four combinations of the Prandtl mixing length and standard k- E models were implemented as well. Computer memory and CPU time consumption in addition to numerical convergence and accuracy of the obtained results were mainly investigated. Observations showed that, a suitable combination of turbulence models in different blocks led to the results with the same accuracy as the high order turbulence model for all of the blocks, in addition to the reductions in memory and CPU time consumption.

Keywords: Computer memory, CPU time, Multi-block method, Turbulence modeling.

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Authors: Jaewook Shin, Aesoon Park

Abstract:

MBMS is a unidirectional point-to-multipoint bearer service in which data are transmitted from a single source entity to multiple recipients. For a mobile to support the MBMS, MBMS client functions as well as MBMS radio protocols should be designed and implemented. In this paper, we analyze the MBMS client functions and describe the implementation of them in our mobile test-bed. User operations and signaling flows between protocol entities to control the MBMS functions are designed in detail. Service announcement utilizing the file download MBMS service and four MBMS user services are demonstrated in the test-bed to verify the MBMS client functions.

Keywords: BM-SC, Broadcast, MBMS, Mobile, Multicast.

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Authors: S. Thongkeaw, M. Boonthienthong

Abstract:

This paper presents the techniques for voltage control in distribution system. It is integrated in the distribution management system. Voltage is an important parameter for the control of electrical power systems. The distribution network operators have the responsibility to regulate the voltage supplied to consumer within statutory limits. Traditionally, the On-Load Tap Changer (OLTC) transformer equipped with automatic voltage control (AVC) relays is the most popular and effective voltage control device. A static synchronous compensator (STATCOM) may be equipped with several controllers to perform multiple control functions. Static Var Compensation (SVC) is regulation slopes and available margins for var dispatch. The voltage control in distribution networks is established as a centralized analytical function in this paper. 

Keywords: Voltage Control, Reactive Power, Distribution System.

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Authors: Yasuo Obikane

Abstract:

The frequency dependence of the phase field model(PFM) is studied. A simple PFM is proposed, and is tested in a laminar boundary layer. The Blasius-s laminar boundary layer solution on a flat plate is used for the flow pattern, and several frequencies are imposed on the PFM, and the decay times of the interfaces are obtained. The computations were conducted for three cases: 1) no-flow, and 2) a half ball on the laminar boundary layer, 3) a line of mass sources in the laminar boundary layer. The computations show the decay time becomes shorter as the frequency goes larger, and also show that it is sensitive to both background disturbances and surface tension parameters. It is concluded that the proposed simple PFM can describe the properties of decay process, and could give the fundamentals for the decay of the interface in turbulent flows.

Keywords: Phase field model, two phase flows, Laminarboundary Layer

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Authors: Mustapha Achibane, Imane Allam

Abstract:

Since the nineties, all Moroccan banking institutions have to respect an arsenal of prudential ratios. The respect of these prudential measures aims to ensure the financial system stability. In order to do so, regulatory authorities tried to reduce the financial and operational risks incurred by the banking entities. Meanwhile, regulatory authorities demanded a balance sheet management work from banks. They also asked them to establish a management control system to manage operational risk, as well as an effort in terms of incurred risk-based commitments. Therefore, the prudential approach has a macroeconomic nature and it is presented as a determinant of the operational, microeconomic approach. This operational approach takes the form of a strategy that each banking entity must develop to manage the different banking risks. This study seeks to analyze the problem of risk management between the prudential and the operational approaches. It was processed through a literature review followed by an analysis of the Moroccan banking sector’s performance. At first, we will reconcile the inductive logic and then, the analytical one. The first approach consists of analyzing the phenomenon from a normative and conceptual perspective, while the second one will consist of considering the Moroccan banking system and analyzing the behavior of Moroccan banking entities in terms of risk management and performance. The results identified a favorable growth in terms of performance, despite the huge provisioning effort made to meet the international standards and the harmonization of the regulations.

Keywords: Banking performance, financial intermediation, operational approach, prudential standards, risk management.

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Authors: Kateřina Struhařová

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The paper gives the evidence of quality of accounting information of Czech private companies. In general the private companies in the Czech Republic do not see the benefits of providing accounting information of high quality. Based on the research of financial statements of entrepreneurs and companies in Zlin region it was confirmed that the quality of accounting information differs among the private entities and that the major impact on the accounting information quality has the fact if the financial statements are audited as well as the size of the entity. Also the foreign shareholders and lenders have some impact on the accounting information quality.

Keywords: Accounting information quality, Financial Statements, Czech Republic.

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Authors: U. Yavas, M. Gokasan

Abstract:

Control of diesel engine’s air path has drawn a lot of attention due to its multi input-multi output, closed coupled, non-linear relation. Today, precise control of amount of air to be combusted is a must in order to meet with tight emission limits and performance targets. In this study, passenger car size diesel engine is modeled by AVL Boost RT, and then simulated with standard, industry level PID controllers. Finally, linear model predictive control is designed and simulated. This study shows the importance of modeling and control of diesel engines with flexible algorithm development in computer based systems.

Keywords: Predictive control, engine control, engine modeling, PID control, feedforward compensation.

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Authors: Mouna Benfssahi, Zoubir El Felsoufi

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For many enterprises, the delocalization of a part or the totality of their supply chain to low cost countries is the best way to reduce costs and remain competitive against the growing globalized market. This new tendency is driven by logistics advantages, as well as, financial and tax discount offered by the host countries. The objective of this article is to examine the new financial challenges introduced by the project of base erosion and profits shifting (BEPS), published in 2015, and also their impact on the decision of delocalization. In fact, the strategy adopted by multinational firms for determining the transfer price (TP) of goods and services, as well as the shared amount of revenues and expenses have a major impact upon group profit and may contribute to divergent results. In order to get more profit, a coherent decision of delocalization should be based on an evaluation of all the operational and financial characteristics associated with such movement. Therefore, it is interesting to model these new constraints and integrate them in a more global decision model. The established model will enable to measure how much these financial constraints impact the decision of delocalization and will give new helpful directives for enterprise managers.

Keywords: Delocalization, intragroup transaction, multinational firms, optimization model, supply chain management, transfer pricing.

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Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

Abstract:

The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: Asset allocation, asset performance, sukuk, zero beta asset.

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Authors: Hasnida Abdul Wahab, Shahrina Md Nordin, Lai Fong Woon, Hasrina Mustafa

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There has been a growing emphasis in communication management from simple coordination of promotional tools to a complex strategic process. This study will examine the current marketing communications and engagement strategies used in addressing the key stakeholders. In the case of fertilizer industry in Malaysia, there has been little empirical research on stakeholder communication when major challenges facing the modern corporation is the need to communicate its identity, its values and products in order to distinguish itself from competitors. The study will employ both quantitative and qualitative methods and the use of Structural Equation Modeling (SEM) to establish a causal relationship amongst the key factors of stakeholder communication strategies and increment in consumers- choice/acceptance and impact on financial performance. One of the major contributions is a conceptual framework for communication strategies and engagement in increasing consumers- acceptance level and the firm-s financial performance.

Keywords: Consumers' acceptance, financial performance, stakeholder communication strategies.

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Authors: Mihai Caramihai, Irina Severin

Abstract:

Bioprocesses are appreciated as difficult to control because their dynamic behavior is highly nonlinear and time varying, in particular, when they are operating in fed batch mode. The research objective of this study was to develop an appropriate control method for a complex bioprocess and to implement it on a laboratory plant. Hence, an intelligent control structure has been designed in order to produce biomass and to maximize the specific growth rate.

Keywords: Fed batch bioprocess, mass-balance model, fuzzy control

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Authors: O. Ikpotokin

Abstract:

In any production process, every product is aimed to attain a certain standard, but the presence of assignable cause of variability affects our process, thereby leading to low quality of product. The ability to identify and remove this type of variability reduces its overall effect, thereby improving the quality of the product. In case of a univariate control chart signal, it is easy to detect the problem and give a solution since it is related to a single quality characteristic. However, the problems involved in the use of multivariate control chart are the violation of multivariate normal assumption and the difficulty in identifying the quality characteristic(s) that resulted in the out of control signals. The purpose of this paper is to examine the use of non-parametric control chart (the bootstrap approach) for obtaining control limit to overcome the problem of multivariate distributional assumption and the p-value method for detecting out of control signals. Results from a performance study show that the proposed bootstrap method enables the setting of control limit that can enhance the detection of out of control signals when compared, while the p-value method also enhanced in identifying out of control variables.

Keywords: Bootstrap control limit, p-value method, out-of-control signals, p-value, quality characteristics.

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Authors: H. Zainuddin, F. Hanafi, M. H. Hairi, A. Aman, M.H.N. Talib

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This paper investigates the effects of knowledge-based acceleration feedback control integrated with Automatic Generation Control (AGC) to enhance the quality of frequency control of governing system. The Intelligent Acceleration Feedback Controller (IAFC) is proposed to counter the over and under frequency occurrences due to major load change in power system network. Therefore, generator tripping and load shedding operations can be reduced. Meanwhile, the integration of IAFC with AGC, a well known Load-Frequency Control (LFC) is essential to ensure the system frequency is restored to the nominal value. Computer simulations of frequency response of governing system are used to optimize the parameters of IAFC. As a result, there is substantial improvement on the LFC of governing system that employing the proposed control strategy.

Keywords: Knowledge-based Supplementary Control, Acceleration Feedback, Load Frequency Control, Automatic Generation Control.

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Authors: S. Al Wadi, Mohd Tahir Ismail, Samsul Ariffin Abdul Karim

Abstract:

It is well known that during the developments in the economic sector and through the financial crises occur everywhere in the whole world, volatility measurement is the most important concept in financial time series. Therefore in this paper we discuss the volatility for Amman stocks market (Jordan) for certain period of time. Since wavelet transform is one of the most famous filtering methods and grows up very quickly in the last decade, we compare this method with the traditional technique, Fast Fourier transform to decide the best method for analyzing the volatility. The comparison will be done on some of the statistical properties by using Matlab program.

Keywords: Fast Fourier transforms, Haar wavelet transform, Matlab (Wavelet tools), stocks market, Volatility.

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Authors: Ventzas Dimitrios, Petropoulos George

Abstract:

The paper presents a compressor anti-surge control system, that results in maximizing compressor throughput with pressure standard deviation reduction, increased safety margin between design point and surge limit line and avoiding possible machine surge. Alternative control strategies are presented.

Keywords: Anti-surge, control, compressor, PID control, safety, fault tolerance, start-up, ESD.

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Authors: Piotr Prewysz Kwinto, Grażyna Voss

Abstract:

Accounting policies are a set of solutions compliant with legal regulations that an entity selects and adopts, and which guarantee a proper quality of financial statements. Those solutions may differ depending on whether the entity adopts national or international accounting standards. The aim of this article is to present accounting principles (policies) in Polish and international legal regulations and their adoption in selected Polish companies listed on the Warsaw Stock Exchange. The research method adopted in this work is the analysis and evaluation of legal conditions in Polish companies.

Keywords: Accounting policies, International Financial Reporting Standards, Financial statement, Method of measuring.

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Authors: Phongsak Phakamach

Abstract:

A DC servomotor position control system using a Fuzzy Logic Sliding mode Model Following Control or FLSMFC approach is presented. The FLSMFC structure consists of an integrator and variable structure system. The integral control is introduced into it in order to eliminated steady state error due to step and ramp command inputs and improve control precision, while the fuzzy control would maintain the insensitivity to parameter variation and disturbances. The FLSMFC strategy is implemented and applied to a position control of a DC servomotor drives. Experimental results indicated that FLSMFC system performance with respect to the sensitivity to parameter variations is greatly reduced. Also, excellent control effects and avoids the chattering phenomenon.

Keywords: Sliding mode model following control, fuzzy logic, DC servomotor.

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Authors: Mihai Caramihai Ana A Chirvase, Irina Severin

Abstract:

Bioprocesses are appreciated as difficult to control because their dynamic behavior is highly nonlinear and time varying, in particular, when they are operating in fed batch mode. The research objective of this study was to develop an appropriate control method for a complex bioprocess and to implement it on a laboratory plant. Hence, an intelligent control structure has been designed in order to produce biomass and to maximize the specific growth rate.

Keywords: Fed batch bioprocess, mass-balance model, fuzzy control.

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Authors: Sophia Fry, Mahir Irtiza, Alexa Hoffman, Yousef Sardahi

Abstract:

This study presents an intelligent control algorithm for a flexible robotic arm. Fuzzy control is used to control the motion of the arm to maintain the arm tip at the desired position while reducing vibration and increasing the system speed of response. The Fuzzy controller (FC) is based on adding the tip angular position to the arm deflection angle and using their sum as a feedback signal to the control algorithm. This reduces the complexity of the FC in terms of the input variables, number of membership functions, fuzzy rules, and control structure. Also, the design of the fuzzy controller is model-free and uses only our knowledge about the system. To show the efficacy of the FC, the control algorithm is implemented on the flexible joint manipulator (FJM) developed by Quanser. The results show that the proposed control method is effective in terms of response time, overshoot, and vibration amplitude.

Keywords: Fuzzy logic control, model-free control, flexible joint manipulators, nonlinear control.

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Authors: Dilavar Khan, Z. Ahmad

Abstract:

Riprap is mostly used to prevent erosion by flows down the steep slopes in river engineering. A total of 53 stability tests performed on angular riprap with a median stone size ranging from 15 to 278 mm and slope ranging from 1 to 40% are used in this study. The existing equations for the prediction of medium size of angular stones are checked for their accuracy using the available data. Predictions of median size using these equations are not satisfactory and results show deviation by more than ±20% from the observed values. A multivariable power regression analysis is performed to propose a new equation relating the median size with unit discharge, bed slope, riprap thickness and coefficient of uniformity. The proposed relationship satisfactorily predicts the median angular stone size with ±20% error. Further, the required size of the rounded stone is more than the angular stone for the same unit discharge and the ratio increases with unit discharge and also with embankment slope of the riprap.

Keywords: Angularity, Gradation, Riprap, Stabilization

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Authors: Chih-Hui Chiu, Chun-Hsien Lin

Abstract:

In this study, a robust intelligent backstepping tracking control (RIBTC) system combined with adaptive output recurrent cerebellar model articulation control (AORCMAC) and H∞ control technique is proposed for wheeled inverted pendulums (WIPs) real-time control with exact system dynamics unknown. Moreover, a robust H∞ controller is designed to attenuate the effect of the residual approximation errors and external disturbances with desired attenuation level. The experimental results indicate that the WIPs can stand upright stably when using the proposed RIBTC.

Keywords: Wheeled inverted pendulum, backsteppingtracking control, H∞ control, adaptive output recurrentcerebellar model articulation control.

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Authors: D. Sun, T. F. Lu, A. Zander, M. Trinkle

Abstract:

This paper investigates the potential use of airborne ultrasonic phased arrays for imaging in outdoor environments as a means of overcoming the limitations experienced by kinect sensors, which may fail to work in the outdoor environments due to the oversaturation of the infrared photo diodes. Ultrasonic phased arrays have been well studied for static media, yet there appears to be no comparable examination in the literature of the impact of a flowing medium on the focusing behaviour of near field focused ultrasonic arrays. This paper presents a method for predicting the sound pressure fields produced by a single ultrasound element or an ultrasonic phased array influenced by airflows. The approach can be used to determine the actual focal point location of an array exposed in a known flow field. From the presented simulation results based upon this model, it can be concluded that uniform flows in the direction orthogonal to the acoustic propagation have a noticeable influence on the sound pressure field, which is reflected in the twisting of the steering angle of the array. Uniform flows in the same direction as the acoustic propagation have negligible influence on the array. For an array impacted by a turbulent flow, determining the location of the focused sound field becomes difficult due to the irregularity and continuously changing direction and the speed of the turbulent flow. In some circumstances, ultrasonic phased arrays impacted by turbulent flows may not be capable of producing a focused sound field.

Keywords: Airborne, airflow, focused sound field, ultrasonic phased array.

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Authors: Alia Abdul Ghaffar, Tom Richardson

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A model reference adaptive control and a fixed gain LQR control were implemented in the height controller of a quadrotor that has parametric uncertainties due to the act of picking up an object of unknown dimension and mass. It is shown that an adaptive controller, unlike the fixed gain controller, is capable of ensuring a stable tracking performance under such condition, although adaptive control suffers from several limitations. The combination of both adaptive and fixed gain control in the controller architecture can result in an enhanced tracking performance in the presence parametric uncertainties.

Keywords: UAV, quadrotor, model reference adaptive control, LQR control.

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Authors: César Camisón-Zornoza, Beatriz Forés-Julián, Alba Puig-Denia

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The literature has argued that firms based in industrial districts enjoy advantages for creating internal knowledge and absorbing external knowledge as a consequence of to the knowledge flows and spillovers that exist in the district. However, empirical evidence to show how belonging to an industrial district affects the business processes of creation and absorption of knowledge is scarce and, moreover, empirical research has not taken into account the influence of variations in the flows of knowledge circulating in each cluster. This study aims to extend empirical evidence on the effect that the stock of shared competencies in industrial districts has on the business processes of creation and absorption of knowledge, through data from an initial study on 952 firms and 35 industrial districts in Spain.

Keywords: Absorptive capacity, industrial district, knowledge creation, organisational learning

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Authors: M. Suutari

Abstract:

In this content analysis research note the aim was to explore to how sustainability and especially environmental issues are conveyed into environmental items in annual reports and disclosures. As The Global Reporting Initiative (GRI) is a globally wide multistakeholder process, the enterprises using voluntarily GRI framework are considered to be aware of sustainability and environmental concerns. The findings were that although these enterprises included in an environmentally sensitive industry sector and had special capabilities to consider environmental issues there were few GRIreporting enterprises presented substantially detailed environmental items in audited financial statements. There were only slight differences between publishing years 2008 and 2009 - the beginning years of economic turmoil. The environmental issues seemed not to be considered substantial enough for financial reporting as a basis for concerning investment or voting decisions.

Keywords: Environmental, reporting, financial, GRI.

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