Search results for: Financial algorithm

Authors: Nermin Ozgulbas, Ali Serhan Koyuncugil

Abstract:

One of the biggest problems of SMEs is their tendencies to financial distress because of insufficient finance background. In this study, an Early Warning System (EWS) model based on data mining for financial risk detection is presented. CHAID algorithm has been used for development of the EWS. Developed EWS can be served like a tailor made financial advisor in decision making process of the firms with its automated nature to the ones who have inadequate financial background. Besides, an application of the model implemented which covered 7,853 SMEs based on Turkish Central Bank (TCB) 2007 data. By using EWS model, 31 risk profiles, 15 risk indicators, 2 early warning signals, and 4 financial road maps has been determined for financial risk mitigation.

Keywords: Early Warning Systems, Data Mining, Financial Risk, SMEs.

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Authors: A. J. Regan, F. J. Lidgey, M. Betteridge, P. Georgiou, C. Toumazou, K. Hayatleh, J. R. Dibble

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Our goal is development of an algorithm capable of predicting the directional trend of the Standard and Poor’s 500 index (S&P 500). Extensive research has been published attempting to predict different financial markets using historical data testing on an in-sample and trend basis, with many authors employing excessively complex mathematical techniques. In reviewing and evaluating these in-sample methodologies, it became evident that this approach was unable to achieve sufficiently reliable prediction performance for commercial exploitation. For these reasons, we moved to an out-ofsample strategy based on linear regression analysis of an extensive set of financial data correlated with historical closing prices of the S&P 500. We are pleased to report a directional trend accuracy of greater than 55% for tomorrow (t+1) in predicting the S&P 500.

Keywords: Financial algorithm, GPU, S&P 500, stock market prediction.

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Authors: S. Sadallah

Abstract:

In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: Management, software, optimal, greedy algorithm, graph-diagram.

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Authors: Jianfeng Li, Feng Jin, Xiaoyu Yang

Abstract:

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.

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Authors: Ashraf Khalil, Salam Abdallah, Khalil Al-hilo, Ebere Iroadu

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Financial literacy is one of the key factors needed in making informed financial decisions. As businesses continue to be more profit driven, more financial and economic intrigues arise that continue to put individuals at the risk of spending more and more without considering the short term and long term effects. We conducted a study to assess financial literacy and financial decision making among Emiratis. Our results show that financial literacy is lacking among Emiratis. Also, almost half of respondents owe loans to other peoples and 1/5 of them have bank loans. We expect that the outcome of this research will be useful for designing educational programs and policies to promote financial planning and security among Emiratis. We also posit that deeper and more informed understanding of this problem is a precursor for developing effective financial education programs with the aim of improving financial decision- making among Emiratis.

Keywords: Financial literacy, loans, financial planning, Emiratis.

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Authors: Barbora Chmelíková

Abstract:

Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason, this study analyses financial knowledge, financial behavior, and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, such as financial knowledge, personal finance behavior, or decisionmaking. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.

Keywords: Financial literacy, financial behavior, personal finance management, university students.

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Authors: Syed Muhammad Aqil Burney, Tahseen Ahmed Jilani, C. Ardil

Abstract:

Financial forecasting is an example of signal processing problems. A number of ways to train/learn the network are available. We have used Levenberg-Marquardt algorithm for error back-propagation for weight adjustment. Pre-processing of data has reduced much of the variation at large scale to small scale, reducing the variation of training data.

Keywords: Gradient descent method, jacobian matrix.Levenberg-Marquardt algorithm, quadratic error surfaces,

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Authors: Ali Serhan Koyuncugil, Nermin Ozgulbas

Abstract:

In this paper, a data mining model to SMEs for detecting financial and operational risk indicators by data mining is presenting. The identification of the risk factors by clarifying the relationship between the variables defines the discovery of knowledge from the financial and operational variables. Automatic and estimation oriented information discovery process coincides the definition of data mining. During the formation of model; an easy to understand, easy to interpret and easy to apply utilitarian model that is far from the requirement of theoretical background is targeted by the discovery of the implicit relationships between the data and the identification of effect level of every factor. In addition, this paper is based on a project which was funded by The Scientific and Technological Research Council of Turkey (TUBITAK).

Keywords: Risk Management, Financial Risk, Operational Risk, Financial Early Warning System, Data Mining, CHAID Decision Tree Algorithm, SMEs.

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Authors: Zhenkun Wang, Simon S. Gao

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Using a scoring system, this paper provides a comparative assessment of the quality of data between XBRL formatted financial reports and non-XBRL financial reports. It shows a major improvement in the quality of data of XBRL formatted financial reports. Although XBRL formatted financial reports do not show much advantage in the quality at the beginning, XBRL financial reports lately display a large improvement in the quality of data in almost all aspects. With the improved XBRL web data managing, presentation and analysis applications, XBRL formatted financial reports have a much better accessibility, are more accurate and better in timeliness.

Keywords: Data Quality; Financial Report; Information; XBRL

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Authors: Laura de Zwaan, Tracey West

Abstract:

There is a sustained observable gender gap in financial literacy, with females consistently having lower levels than males. This research explores the knowledge and experiences of high school students in Australia aged 14 to 18 in order to understand how this gap can be improved. Using a predominantly qualitative approach, we find evidence to support impacts on financial literacy from financial socialization and socio-economic environment. We also find evidence that current teaching and assessment approaches to financial literacy may disadvantage female students. We conclude by offering recommendations to improve the way financial literacy education is delivered within the curriculum.

Keywords: Financial literacy, financial socialization, gender, maths.

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Authors: Abdel Aziz, Hadia H.

Abstract:

Since the 1980s, banks and financial service institutions have been running in an endless race of innovation to cope with the advancing technology, the fierce competition, and the more sophisticated and demanding customers. In order to guide their innovation efforts, several researches were conducted to identify the success and failure factors of new financial services. These mainly included organizational factors, marketplace factors and new service development process factors. They almost all emphasized the importance of customer and market orientation as a response to the highly perceptual and intangible characteristics of financial services. However, they deemphasized the critical characteristics of high involvement of risk and close correlation with the economic conditions, a factor that heavily contributed to the Global financial Crisis of 2008. This paper reviews the success and failure factors of new financial services. It then adds new perspectives emerging from the analysis of the role of innovation in the global financial crisis.

Keywords: Financial innovation, global financial crisis, lessons learned from global financial crisis, success factors in financial innovation.

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Authors: Barbora Chmelíková

Abstract:

Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: Financial decision-making, financial literacy, personal finance, university students.

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Authors: Mohammad Ghavami, Reza S. Dilmaghani

Abstract:

This paper presents an adaptive framework for modelling financial markets using equity risk premiums, risk free rates and volatilities. The recorded economic factors are initially used to train four adaptive filters for a certain limited period of time in the past. Once the systems are trained, the adjusted coefficients are used for modelling and prediction of an important financial market index. Two different approaches based on least mean squares (LMS) and recursive least squares (RLS) algorithms are investigated. Performance analysis of each method in terms of the mean squared error (MSE) is presented and the results are discussed. Computer simulations carried out using recorded data show MSEs of 4% and 3.4% for the next month prediction using LMS and RLS adaptive algorithms, respectively. In terms of twelve months prediction, RLS method shows a better tendency estimation compared to the LMS algorithm.

Keywords: Prediction of financial markets, Adaptive methods, MSE, LSE.

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Authors: Gaohuizi Guo, Ning Zhang

Abstract:

Firefly algorithm (FA) and Sine Cosine algorithm (SCA) are two very popular and advanced metaheuristic algorithms. However, these algorithms applied to multi-objective optimization problems have some shortcomings, respectively, such as premature convergence and limited exploration capability. Combining the privileges of FA and SCA while avoiding their deficiencies may improve the accuracy and efficiency of the algorithm. This paper proposes a hybridization of FA and SCA algorithms, named multi-objective firefly-sine cosine algorithm (MFA-SCA), to develop a more efficient meta-heuristic algorithm than FA and SCA.

Keywords: Firefly algorithm, hybrid algorithm, multi-objective optimization, Sine Cosine algorithm.

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Authors: Safeer Hussain Khan

Abstract:

In this paper, we introduce a two-step iterative algorithm to prove a strong convergence result for approximating common fixed points of three contractive-like operators. Our algorithm basically generalizes an existing algorithm..Our iterative algorithm also contains two famous iterative algorithms: Mann iterative algorithm and Ishikawa iterative algorithm. Thus our result generalizes the corresponding results proved for the above three iterative algorithms to a class of more general operators. At the end, we remark that nothing prevents us to extend our result to the case of the iterative algorithm with error terms.

Keywords: Contractive-like operator, iterative algorithm, fixed point, strong convergence.

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Authors: Satoshi Shimizu, Kazuaki Yamaguchi, Toshiki Saitoh, Sumio Masuda

Abstract:

Some fast exact algorithms for the maximum weight clique problem have been proposed. Östergard’s algorithm is one of them. Kumlander says his algorithm is faster than it. But we confirmed that the straightforwardly implemented Kumlander’s algorithm is slower than O¨ sterga˚rd’s algorithm. We propose some improvements on Kumlander’s algorithm.

Keywords: Maximum weight clique, exact algorithm, branch-andbound, NP-hard.

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Authors: Panpan Xu, Shulin Sui

Abstract:

The crossover probability and mutation probability are the two important factors in genetic algorithm. The adaptive genetic algorithm can improve the convergence performance of genetic algorithm, in which the crossover probability and mutation probability are adaptively designed with the changes of fitness value. We apply adaptive genetic algorithm into a function optimization problem. The numerical experiment represents that adaptive genetic algorithm improves the convergence speed and avoids local convergence.

Keywords: Genetic algorithm, Adaptive genetic algorithm, Function optimization.

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Authors: Mir Hadi Seyedafsari, Iraj Hasanzadeh

Abstract:

Like other external sorting algorithms, the presented algorithm is a two step algorithm including internal and external steps. The first part of the algorithm is like the other similar algorithms but second part of that is including a new easy implementing method which has reduced the vast number of inputoutput operations saliently. As decreasing processor operating time does not have any effect on main algorithm speed, any improvement in it should be done through decreasing the number of input-output operations. This paper propose an easy algorithm for choose the correct record location of the final list. This decreases the time complexity and makes the algorithm faster.

Keywords: External sorting algorithm, internal sortingalgorithm, fast sorting, robust algorithm.

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Authors: Jaramillo G. Maria Luisa, Turriago H. Álvaro, Thoene Ulf

Abstract:

Financial inclusion has become a crucially important factor in debates on economic inequality posing challenges to the financial systems of countries around the world. Nowadays governments and banks are concerned about creating products that allow access to wide sectors of the population. The creation of banking products by the financial sector for people with low incomes tends to lead to improvements in the quality of life of vulnerable parts of the population. In countries with notable social and economic inequalities, financial inclusion is a key aspect for equitable economic growth. This study is based on the case of Colombia, which is a country with a strong record of economic growth over the past decade. Nevertheless, corruption, unemployment, and poverty contribute to uncertainty regarding the country’s future growth prospects. This study wants to explain the situation of financial exclusion and financial inclusion with respect to the Colombian case. Financial inclusion is going to be studied from the perspective of social innovation.

Keywords: Colombia, financial exclusion, financial inclusion, social innovation.

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Authors: Amod P. Vaze

Abstract:

Genetic Algorithm has been used to solve wide range of optimization problems. Some researches conduct on applying Genetic Algorithm to analog circuit design automation. These researches show a better performance due to the nature of Genetic Algorithm. In this paper a modified Genetic Algorithm is applied for analog circuit design automation. The modifications are made to the topology of the circuit. These modifications will lead to a more computationally efficient algorithm.

Keywords: Genetic algorithm, analog circuits, design.

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Authors: Panpan Xu, Shulin Sui, Zongjie Du

Abstract:

Genetic algorithm is widely used in optimization problems for its excellent global search capabilities and highly parallel processing capabilities; but, it converges prematurely and has a poor local optimization capability in actual operation. Simulated annealing algorithm can avoid the search process falling into local optimum. A hybrid genetic algorithm based on simulated annealing is designed by combining the advantages of genetic algorithm and simulated annealing algorithm. The numerical experiment represents the hybrid genetic algorithm can be applied to solve the function optimization problems efficiently.

Keywords: Genetic algorithm, Simulated annealing, Hybrid genetic algorithm, Function optimization.

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Authors: Jerry Szatko, Edan L. Jorgensen, Stacia Jorgensen

Abstract:

A crucial component to the success of any financial advising relationship is for the financial professional to understand the perceptions, preferences and thought-processes carried by the financial clients they serve. Armed with this information, financial professionals are more quickly able to understand how they can tailor their approach to best match the individual preferences and needs of each personal investor. Our research explores the use of a quantitative assessment tool in the financial services industry to assist in the identification of the personal investor’s consumer behaviors, especially in terms of financial risk tolerance, as it relates to their financial decision making. Through this process, the Unitifi Consumer Insight Tool (UCIT) was created and refined to capture and categorize personal investor financial behavioral categories and the financial personality tendencies of individuals prior to the initiation of a financial advisement relationship. This paper discusses the use of this tool to place individuals in one of four behavior-based financial risk tolerance categories. Our discoveries and research were aided through administration of a web-based survey to a group of over 1,000 individuals. Our findings indicate that it is possible to use a quantitative assessment tool to assist in predicting the behavioral tendencies of personal consumers when faced with consumer financial risk and decisions.

Keywords: Behavior based advising, behavioral finance, financial advising, financial advisor tools, financial risk tolerance.

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Authors: Chiung-ying Lee, Chia-hua Chang

Abstract:

In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.

Keywords: Financial reference database, Financial early warning model, Logistic Regression.

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Authors: Chenxue Yang, Mao Ye, Zijian Liu, Tao Li, Jiao Bao

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Non-negative matrix factorization (NMF) is a useful computational method to find basis information of multivariate nonnegative data. A popular approach to solve the NMF problem is the multiplicative update (MU) algorithm. But, it has some defects. So the columnwisely alternating gradient (cAG) algorithm was proposed. In this paper, we analyze convergence of the cAG algorithm and show advantages over the MU algorithm. The stability of the equilibrium point is used to prove the convergence of the cAG algorithm. A classic model is used to obtain the equilibrium point and the invariant sets are constructed to guarantee the integrity of the stability. Finally, the convergence conditions of the cAG algorithm are obtained, which help reducing the evaluation time and is confirmed in the experiments. By using the same method, the MU algorithm has zero divisor and is convergent at zero has been verified. In addition, the convergence conditions of the MU algorithm at zero are similar to that of the cAG algorithm at non-zero. However, it is meaningless to discuss the convergence at zero, which is not always the result that we want for NMF. Thus, we theoretically illustrate the advantages of the cAG algorithm.

Keywords: Non-negative matrix factorizations, convergence, cAG algorithm, equilibrium point, stability.

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Authors: S. M. Khalessizadeh, R. Zaefarian, S.H. Nasseri, E. Ardil

Abstract:

Today, Genetic Algorithm has been used to solve wide range of optimization problems. Some researches conduct on applying Genetic Algorithm to text classification, summarization and information retrieval system in text mining process. This researches show a better performance due to the nature of Genetic Algorithm. In this paper a new algorithm for using Genetic Algorithm in concept weighting and topic identification, based on concept standard deviation will be explored.

Keywords: Genetic Algorithm, Text Mining, Term Weighting, Concept Extraction, Concept Distribution.

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Authors: J. Nesleha, H. Florianova

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The goal of the study is to provide results of a conducted study devoted to financial literacy in the Czech Republic and to introduce a project related to financial education in the Czech Republic. Financial education has become an important part of education in the country, yet it is still neglected on the lowest level of formal education–primary schools. The project is based on investigation of financial literacy on primary schools in the Czech Republic. Consequently, the authors aim to formulate possible amendments related to this type of education. The gained dataset is intended to be used for analysis concerning financial education in the Czech Republic. With regard to used methods, the most important one is regression analysis for disclosure of predictors causing different levels of financial literacy. Furthermore, comparison of different groups is planned, for which t-tests are intended to be used. The study also employs descriptive statistics to introduce basic relationship in the data file.

Keywords: Czech Republic, financial education, financial literacy, primary school, regression analysis.

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Authors: Keonwoo Kim, Dowon Hong, Kyoil Chung

Abstract:

This paper proposes the authentication method using ESA algorithm instead of using CAVE algorithm in the CDMA mobile communication systems including IS-95 and CDMA2000 1x. And, we analyze to apply ESA mechanism on behalf of CAVE mechanism without the change of message format and air interface in the existing CDMA systems. If ESA algorithm can be used as the substitution of CAVE algorithm, security strength of authentication algorithm is intensified without protocol change. An algorithm replacement proposed in this paper is not to change an authentication mechanism, but to configure input of ESA algorithm and to produce output. Therefore, our proposal can be the compatible to the existing systems.

Keywords: ESA, CAVE, CDMA, authentication, mobilecommunication.

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Authors: B. Frączek

Abstract:

The paper analyses the usage of the Internet by university students in Visegrad Countries (4V Countries) who study economic fields in their formal and informal financial education and captures the areas of untapped potential of Internet in educational processes. Higher education and training, technological readiness, and the financial market development are in the group of pillars, that are key for efficiency driven economies. These three pillars have become an inspiration to the research on using the Internet in the financial education among economic university students as the group of the best educated people in finance. The financial education is a process that allows for improving the level of financial literacy. In turn, the financial literacy it is the set of financial knowledge, skills, awareness and patterns influencing the financial decisions. The level of financial literacy influences the level of financial well-being of individuals, determines the scale of saving of households and at the same time gives the greater chance for sustainable and more predictable development of the financial market with the positive impact on economy. The financial literacy is necessary for each group of society but its appropriate level is desirable especially in respect of economics students as future participants of financial markets as well as the experts and advisors in financial decision making. The low level of financial literacy is the great problem of many target groups in both developing and developed countries and the financial education is seen as the best way of improving this situation. Also the financial inclusion plays the special role in enhancing the level of financial literacy in the aspect of education by practice as well as due to interrelation between level of financial literacy and degree of financial inclusion. Despite many initiatives under financial education, the level of financial literacy is still very low. Scientists still search for new ways of solving this problem. One of the proposal is more effective usage of the new technology in financial education, especially the Internet, because of the growing popularity of e-learning and the increasing number of Internet users, especially among young people who are called the Generation Net. Due to special role of the university students studying the economics fields for the future financial markets, students of four universities from Visegrad Countries (Czech Republic, Hungary, Poland and Slovakia) were invited to participate in the survey. The aim of the article is to present the level and ways of using the Internet technology in financial education and indicating the so far unused or underused opportunities.

Keywords: Financial education, financial inclusion, financial literacy, usage of Internet in education.

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Authors: George Cristian Gruia, Michal Kavan

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The article describes a case study on one of Czech Republic-s manufacturing middle size enterprises (ME), where due to the European financial crisis, production lines had to be redesigned and optimized in order to minimize the total costs of the production of goods. It is considered an optimization problem of minimizing the total cost of the work load, according to the costs of the possible locations of the workplaces, with an application of the Greedy algorithm and a partial analogy to a Set Packing Problem. The displacement of working tables in a company should be as a one-toone monotone increasing function in order for the total costs of production of the goods to be at minimum. We use a heuristic approach with greedy algorithm for solving this linear optimization problem, regardless the possible greediness which may appear and we apply it in a Czech ME.

Keywords: Czech, greedy algorithm, minimize, total costs.

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Authors: Razagh Hafezi, Ahmad Keshavarz, Vida Moshfegh

Abstract:

This paper presents a novel algorithm of stereo correspondence with rank transform. In this algorithm we used the genetic algorithm to achieve the accurate disparity map. Genetic algorithms are efficient search methods based on principles of population genetic, i.e. mating, chromosome crossover, gene mutation, and natural selection. Finally morphology is employed to remove the errors and discontinuities.

Keywords: genetic algorithm, morphology, rank transform, stereo correspondence

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