Search results for: Global Financial Crisis.

Authors: Daiming Wang

Abstract:

In this paper, by using Mawhin-s continuation theorem of coincidence degree and a method based on delay differential inequality, some sufficient conditions are obtained for the existence and global exponential stability of periodic solutions of cellular neural networks with distributed delays and impulses on time scales. The results of this paper generalized previously known results.

Keywords: Periodic solutions, global exponential stability, coincidence degree, M-matrix.

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Authors: Mbaitiga Zacharie

Abstract:

This paper discusses the implementation of the Kalman Filter along with the Global Positioning System (GPS) for indoor robot navigation. Two dimensional coordinates is used for the map building, and refers to the global coordinate which is attached to the reference landmark for position and direction information the robot gets. The Discrete Kalman Filter is used to estimate the robot position, project the estimated current state ahead in time through time update and adjust the projected estimated state by an actual measurement at that time via the measurement update. The navigation test has been performed and has been found to be robust.

Keywords: Global positioning System, kalman filter, robot navigation.

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Authors: Jung-Hyun Kim, Jihyung Kim, Kwangjae Lim, Dong Seung Kwon

Abstract:

In this paper, our focus is to assure a global frequency synchronization in OFDMA-based wireless mesh networks with local information. To acquire the global synchronization in distributed manner, we propose a novel distributed frequency synchronization (DFS) method. DFS is a method that carrier frequencies of distributed nodes converge to a common value by repetitive estimation and averaging step and sharing step. Experimental results show that DFS achieves noteworthy better synchronization success probability than existing schemes in OFDMA-based mesh networks where the estimation error is presented.

Keywords: OFDMA systems, Frequency synchronization, Distributed networks, Multiple groups.

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Authors: P. Nagendra, S. Halder nee Dey, S. Paul, T. Datta

Abstract:

This paper presents a methodology to assess the voltage stability status combined with optimal power flow technique using an instantaneous two-bus equivalent model of power system incorporating static var compensator (SVC) and thyristor controlled series compensator (TCSC) controllers. There by, a generalized global voltage stability indicator being developed has been applied to a robust practical Indian Eastern Grid 203-bus system. Simulation results have proved that the proposed methodology is promising to assess voltage stability of any power system at any operating point in global scenario. Voltage stability augmentation with the application of SVC at the weakest bus and TCSC at critical line connected to the weakest bus is compared with the system having no compensation. In the proposed network equivalent model the generators have been modeled more accurately considering economic criteria.

Keywords: Equivalent two-bus model, global voltage security indicator, optimal power flow, SVC, TCSC.

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Authors: Ingrid Göpfert, Michael Stephan, Wanja Wellbrock, Malte Ackermann

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Empirical insights into the implementation of logistics competencies at the top management level are scarce. This paper addresses this issue with an explorative approach which is based on a dataset of 872 observations in the years 2000, 2004 and 2008 using quantitative content analysis from annual reports of the 500 publicly listed firms with the highest global research and development expenditures according to the British Department for Business Innovation and Skills. We find that logistics competencies are more pronounced in Asian companies than in their European or American counterparts. On an industrial level the results are quite mixed. Using partial point-biserial correlations we show that logistics competencies are positively related to financial performance.

Keywords: Logistics, supply chain management, content analysis, executive boards, multinational corporations.

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Authors: T. Santiboon

Abstract:

This research were investigated, determined, and analyzed of the climate characteristically change in the provincial Udon Thani in the period of 60 surrounding years from 1951 to 2010 A.D. that it-s transferred to effects of climatologically data for determining global warming. Statistically significant were not found for the 60 years- data (R2<0.81). Statistically significant were found after adapted data followed as the Sun Spot cycle in 11 year periods, at the level 0.001 (R2= 1.00). These results indicate the Udon Thani-s weather are affected change; temperatures and evaporation were increased, but rainfall and number days of rainfall, cyclone storm, wind speed, and humidity, forest assessment were decreased. The effects of thermal energy from the sun radiation energy and human activities that they-re followed as the sunspot cycle are able to be predicted from the last to the future of the uniformitarian-s the climate change and global warming effect of the world.

Keywords: Climate Change, Global Warming, Udon Thani Province Weather

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Authors: El Mahdi Barrah, Said Safi, Abdessamad Malaoui

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In this paper, we describe an application for face recognition. Many studies have used local descriptors to characterize a face, the performance of these local descriptors remain low by global descriptors (working on the entire image). The application of local descriptors (cutting image into blocks) must be able to store both the advantages of global and local methods in the Discrete Cosine Transform (DCT) domain. This system uses neural network techniques. The letter method provides a good compromise between the two approaches in terms of simplifying of calculation and classifying performance. Finally, we compare our results with those obtained from other local and global conventional approaches.

Keywords: Face detection, face recognition, discrete cosine transform (DCT), FPLBP, TPLBP, NN.

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Authors: Terezie Bartusková, Jitka Baňařová, Zuzana Kusněřová

Abstract:

Importance of strategic planning is unquestionable. However, the practical implementation of a strategic plan faces too many obstacles. The aim of the article is explained the importance of strategic planning and to find how companies in Moravian-Silesian Region deal with strategic planning, and to introduce the model, which helps to set strategic goals in financial indicators area. This model should be part of the whole process of strategic planning and can be use to predict the future values of financial indicators of the company with regard to the factor, which influence these indicators.

Keywords: Planning of Potentials, Planning of Strategic Objectives, Portfolio Planning, Significant Factors, Strategic Planning.

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Authors: Ya-Fen Lee, Yun-Yao Chi, Cing-Hong Hung

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Because of the global warming and the rising sea level, residents living in southwestern coastland, Taiwan are faced with the submerged land and may move to higher elevation area. It is desirable to discuss the key consideration factor for selecting the migration location under five dimensions of ಯ security”, “health”, “convenience”, “comfort” and “socio-economic” based on the document reviews. This paper uses the Structural Equation Modeling (SEM) and the questionnaire survey. The analysis results show that the convenience is the most key factor for residents in Taiwan. 

Keywords: Global warming, migration, structural equation modelling, questionnaire survey.

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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: E.Assareh, M.A. Behrang, R. Assareh, N. Hedayat

Abstract:

An integrated Artificial Neural Network- Particle Swarm Optimization (PSO) is presented for analyzing global electricity consumption. To aim this purpose, following steps are done: STEP 1: in the first step, PSO is applied in order to determine world-s oil, natural gas, coal and primary energy demand equations based on socio-economic indicators. World-s population, Gross domestic product (GDP), oil trade movement and natural gas trade movement are used as socio-economic indicators in this study. For each socio-economic indicator, a feed-forward back propagation artificial neural network is trained and projected for future time domain. STEP 2: in the second step, global electricity consumption is projected based on the oil, natural gas, coal and primary energy consumption using PSO. global electricity consumption is forecasted up to year 2040.

Keywords: Particle Swarm Optimization, Artificial NeuralNetworks, Fossil Fuels, Electricity, Forecasting.

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Authors: Jiří Barta, Oldřich Svoboda, Jiří. F. Urbánek

Abstract:

In this paper will be discussed two coin´s sides of crisis scenarios dynamics. On the one's side is negative role of subsidiary scenario branches in its compactness weakening by means unduly chaotic atomizing, having many interactive feedbacks cases, increasing a value of a complexity here. This negative role reflects the complexity of use cases, weakening leader compliancy, which brings something as a ´readiness for controlling capabilities provision´. Leader´s dissatisfaction has zero compliancy, but factual it is a ´crossbar´ (interface in fact) between planning and executing use cases. On the other side of this coin, an advantage of rich scenarios embranchment is possible to see in a support of response awareness, readiness, preparedness, adaptability, creativity and flexibility. Here rich scenarios embranchment contributes to the steadiness and resistance of scenario mission actors. These all will be presented in live power-points ´Blazons´, modelled via DYVELOP (Dynamic Vector Logistics of Processes) on the Conference.

Keywords: Leadership, Controlling, Complexity, DYVELOP, Scenarios.

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Authors: C. F. Pricope

Abstract:

The last two decades witnessed a movement towards harmonization of international financial reporting standards (IFRS) throughout the global economy. This investigation seeks to identify the factors that could explain the adoption of IFRS by poor jurisdictions. While there has been a considerable amount of literature published on the effects and key drivers of IFRS adoption in both developed and developing countries, little attention has been paid to jurisdictions with less developed capital markets and low income levels exclusively. Drawing upon the Institutional Isomorphism theory and analyzing a sample of 45 poor jurisdictions between 2008 and 2013, the study empirically shows that poor jurisdictions are driven by legitimacy concerns rather than by economic reasoning to adopt an international accounting perspective. This in turn has implications for the IASB, as it should seek to influence institutional pressures within a particular jurisdiction in order to promote IFRS adoption.

Keywords: IFRS Adoption, isomorphism, poor jurisdictions, accounting harmonization.

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Authors: Victoria S. Scarratt

Abstract:

Couples involved in age-gap relationships generally evoke negative stereotypes, opinions, and social disapproval. This research seeks to examine whether financial disparities in age-discrepant relationships cause negative attitudes in study participants. It was hypothesized that an age-gap couple (29-year difference) would receive a greater degree of societal disapproval when the couple also had a large salary-gap compared to a similarly aged couple (1-year difference) with a salary-gap. Additionally, there would be no significant difference between age-gap couples without a salary-gap compared to a similarly aged couple without a salary gap. To test the hypothesis, participants were given one of four scenarios regarding a couple in a romantic relationship. Then they were asked to respond to nine Likert scale questions. Results indicated that participants perceived age-gap relationships with a salary disparity to be less equitable in regard to a power imbalance between the couple and the financial and general gain that one partner will receive. A significant interaction was also detected for evoking feelings of disgust in participants, and how morally correct it is for the couple to continue their relationship.

Keywords: Age-gap relationships, financial discrepancies, love, relationships, societal stigmas.

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Authors: Chunguang Wang, Krishna Shankar, Evgeny V. Morozov

Abstract:

The use of composite materials in offshore engineering for deep sea oil production riser systems has drawn considerable interest due to the potential weight savings and improvement in durability. The design of composite risers consists of two stages: (1) local design based on critical local load cases, and (2) global analysis of the full length composite riser under global loads and assessment of critical locations. In the first stage, eight different material combinations were selected and their laminate configurations optimised under local load considerations. Stage two includes a final local stress analysis of the critical sections of the riser under the combined loads determined in the global analysis. This paper describes two design methodologies of the composite riser to provide minimum structural weight and shows that the use of off angle fibre orientations in addition to axial and hoop reinforcements offer substantial weight savings and ensure the structural capacity.

Keywords: Composite Riser, Composite Tubular, Finite Element Modelling, Global Design, Local Design, Offshore Engineering.

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Authors: Bita Mashayekhi, Marjan Fayyazi, Parisa Sefati

Abstract:

Audit quality is a popular topic in accounting and auditing research because recent decades’ financial crises reduce the reliability of financial reports to public investors and cause significant doubt about the audit profession. Therefore, doing research to identify effective factors in improving audit quality is necessary for bringing back public investors’ trust to financial statements as well as audit reports. In this study, we explore the relationship between audit rotation and audit quality. For this purpose, we employ the Duff (2009) model of audit quality to measure audit quality and use a questionnaire survey of 27 audit service quality attributes. Our results show that there is a negative relationship between auditor’s rotation and audit quality as we consider the auditor’s reputation, capability, assurance, experience, and responsiveness as surrogates for audit quality. There is no evidence for verifying a same relationship when we use the auditor’s independence and expertise for measuring audit quality.

Keywords: Audit quality, auditor’s rotation, reputation, capability, assurance, experience, responsiveness, independence, expertise.

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Authors: A. Bumbová, M. Čáslavský, F. Božek, J. Dvořák

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The paper deals with the analysis of hazards and sensitivity of potential resource of emergency water supply of population in a selected region of the Czech Republic. The procedure of identification and analysis of hazards and sensitivity is carried out on the basis of a unique methodology of classifying the drinking water resources earmarked for emergency supply of population. The hazard identification is based on a general register of hazards for individual parts of hydrological structure and the elements of technological equipment. It is followed by a semi-quantitative point indexation for the activation of each identified hazard, i.e. fires of anthropogenic origin, flood and the increased radioactive background accompanied by the leak of radon. Point indexation of sensitivity has been carried out at the same time. The analysis is the basis for a risk assessment of potential resource of emergency supply of population and the subsequent classification of such resource within the system of crisis planning.

Keywords: Hazard identification, sensitivity, semi-quantitative assessment, emergency water supply, crisis situation, ground water.

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Authors: Kung-Jen Tu

Abstract:

Many public housing properties developed by local governments in Taiwan in the 1980s have deteriorated severely as these rental apartment buildings aged. The lack of building maintainability considerations during project design phase as well as insufficient maintenance funds have made it difficult and costly for local governments to maintain and keep public housing properties in good shape. In order to assist the local governments in achieving and delivering sustainable public housing, this paper intends to present a developed design evaluation method to be used to evaluate the presented design schemes from property management and financial feasibility perspectives during project design phase of public housing projects. The design evaluation results, i.e. the property management and financial implications of presented design schemes that could occur later during the building operation and maintenance phase, will be reported to the client (the government) and design schemes revised consequently. It is proposed that the design evaluation be performed from two main perspectives: (1) Operation and property management perspective: Three criteria such as spatial appropriateness, people and vehicle circulation and control, property management working spaces are used to evaluate the ‘operation and PM effectiveness’ of a design scheme. (2) Financial feasibility perspective: Four types of financial analyses are performed to assess the long term financial feasibility of a presented design scheme, such as operational and rental income analysis, management fund analysis, regular operational and property management service expense analysis, capital expense analysis. The ongoing Chung-Li Public Housing Project developed by the Taoyuan City Government will be used as a case to demonstrate how the presented design evaluation method is implemented. The results of property management assessment as well as the annual operational and capital expenses of a proposed design scheme are presented.

Keywords: Design evaluation method, management fund, operational and capital expenses, rental apartment buildings.

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Authors: Qianhong Zhang, Wenzhuan Zhang

Abstract:

This paper is concerned with the global asymptotic behavior of positive solution for a system of two nonlinear rational difference equations. Moreover, some numerical examples are given to illustrate results obtained.

Keywords: Difference equations, stability, unstable, global asymptotic behavior.

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Authors: Majdi M. Alomari, Nafesah I. Alshdaifat, Mohammad S. Widyan

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Different countries have introduced different schemes and policies to counter global warming. The rationale behind the proposed policies and the potential barriers to successful implementation of the policies adopted by the countries were analyzed and estimated based on different models. It is argued that these models enhance the transparency and provide a better understanding to the policy makers. However, these models are underpinned with several structural and baseline assumptions. These assumptions, modeling features and future prediction of emission reductions and other implication such as cost and benefits of a transition to a low-carbon economy and its economy wide impacts were discussed. On the other hand, there are potential barriers in the form political, financial, and cultural and many others that pose a threat to the mitigation options.

Keywords: Economic wide impact, energy models, environmental policy instruments, mitigating CO2 emission.

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Authors: Mojtaba Rezaei, Elham Heydari

Abstract:

This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.

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Authors: Seyed Fazel Ziaei Asl, Ali Karami, Gholamreza Ashari, Azam Behrang, Arezoo Assareh, N.Hedayat

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Predict daily global solar radiation (GSR) based on meteorological variables, using Multi-layer perceptron (MLP) neural networks is the main objective of this study. Daily mean air temperature, relative humidity, sunshine hours, evaporation, wind speed, and soil temperature values between 2002 and 2006 for Dezful city in Iran (32° 16' N, 48° 25' E), are used in this study. The measured data between 2002 and 2005 are used to train the neural networks while the data for 214 days from 2006 are used as testing data.

Keywords: Multi-layer Perceptron (MLP) Neural Networks;Global Solar Radiation (GSR), Meteorological Parameters, Prediction.

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Authors: M. Boukhrouk, R. Ed-Dali

Abstract:

Outbound tourism in Morocco, as in the majority of developing countries, reveals some of the aspects of inequality between the north and the south. Considered by some researchers as one of the facets of the development crisis, access to tourism and especially international tourism is a chance for a small minority with financial means, while the vast portions of the population dream rather of immigrating to a developed country for the sake of improving their standard of living. The right to travel is also limited by visa requirements, procedures in host countries, security and technical measures and creates discrimination in the practice of tourism. These conditions do not seem to be favorable to the democratization of the practice of international tourism for the populations of the southern countries. This paper is a contribution to the reading of the trends of outbound tourism in developing countries through the example of Morocco. It highlights the different aspects of Moroccan outbound tourism, destinations and the behavior of tourists through an analysis of the offer of a sample of 50 travel agencies. In the same vein, it offers a reading grid of the possibilities offered for the development of outbound tourism and the various existing obstacles to the democratization of international outbound tourism in the southern countries. This reading reveals the transformation in the behavior of Moroccan international tourists as well as the profound changes in Moroccan society, through a model of statistical analysis.

Keywords: Demand, Hajj, Morocco, outbound tourism, tendency, Umrah.

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Authors: Omar Farahat Hassanein, A. Samer Ezeldin

Abstract:

The construction industry is a very dynamic field. Every day new technologies and methods are developed to fasten the process and increase its efficiency. Hence, if a project uses fewer resources it will be more efficient.

This paper examines the recycling of concrete construction and demolition (C&D) waste to reuse it as aggregates in on-site applications for construction projects in Egypt and possibly in the Middle East. The study focuses on a stationary plant setting. The machinery set-up used in the plant is analyzed technically and financially.

The findings are gathered and grouped to obtain a comprehensive cost-benefit financial model to demonstrate the feasibility of establishing and operating a concrete recycling plant. Furthermore, a detailed business plan including the time and hierarchy is proposed. 

Keywords: Construction wastes, recycling, sustainability, financial model, concrete recycling, concrete life cycle.

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Authors: J. Cheeneebash, K. B. Lallmamode, A. Gopaul

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Throughout this paper, a relatively new technique, the Tabu search variable selection model, is elaborated showing how it can be efficiently applied within the financial world whenever researchers come across the selection of a subset of variables from a whole set of descriptive variables under analysis. In the field of financial prediction, researchers often have to select a subset of variables from a larger set to solve different type of problems such as corporate bankruptcy prediction, personal bankruptcy prediction, mortgage, credit scoring and the Arbitrage Pricing Model (APM). Consequently, to demonstrate how the method operates and to illustrate its usefulness as well as its superiority compared to other commonly used methods, the Tabu search algorithm for variable selection is compared to two main alternative search procedures namely, the stepwise regression and the maximum R 2 improvement method. The Tabu search is then implemented in finance; where it attempts to predict corporate bankruptcy by selecting the most appropriate financial ratios and thus creating its own prediction score equation. In comparison to other methods, mostly the Altman Z-Score model, the Tabu search model produces a higher success rate in predicting correctly the failure of firms or the continuous running of existing entities.

Keywords: Predicting Bankruptcy, Tabu Search

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Authors: Saunah Zainon, Ruhaya Atan, Yap Bee Wah, Zarina Abu Bakar

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The primary objective of this study is to test whether there is any difference in performance between funded and nonfunded registered charity organizations. In this study, performance as the dependent variable is measured using total donations. Using a sample of 101 charity organizations registered with the Registry of Society, analysis of variance (ANOVA) results indicate that there is a difference in financial performance between funded and non-funded charity organizations. The study provides empirical evidence to resource providers and the policy makers in scrutinizing the decision to disburse their funds and resources to these charity organizations.

Keywords: charity organizations, donations, funded, non-funded

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Authors: Cristian Păuna

Abstract:

After the widespread release of electronic trading, automated trading systems have become a significant part of the business intelligence system of any modern financial investment company. An important part of the trades is made completely automatically today by computers using mathematical algorithms. The trading decisions are taken almost instantly by logical models and the orders are sent by low-latency automatic systems. This paper will present a real-time price prediction methodology designed especially for algorithmic trading. Based on the price cyclicality function, the methodology revealed will generate price cyclicality bands to predict the optimal levels for the entries and exits. In order to automate the trading decisions, the cyclicality bands will generate automated trading signals. We have found that the model can be used with good results to predict the changes in market behavior. Using these predictions, the model can automatically adapt the trading signals in real-time to maximize the trading results. The paper will reveal the methodology to optimize and implement this model in automated trading systems. After tests, it is proved that this methodology can be applied with good efficiency in different timeframes. Real trading results will be also displayed and analyzed in order to qualify the methodology and to compare it with other models. As a conclusion, it was found that the price prediction model using the price cyclicality function is a reliable trading methodology for algorithmic trading in the financial market.

Keywords: Algorithmic trading, automated trading systems, financial markets, high-frequency trading, price prediction.

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Authors: González Carreño G., Rejas Muslera Rj., Padilla Fernández-Vega J., Cepeda González M. I.

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Automobile Industry has great importance in the Spanish economy (8,7 % of the active Spanish population is employed in this sector).The above mentioned sector has been one of the principal sectors affected by the current economic crisis, consistently, the budgets in advertising have been severely limited (46,9 % less in the period of reference), these needs of reduction have originated a substantial change in the advertising strategy (from 2007 the increase of the advertising investment in Internet is 251,6 %), and increase profitability. The growing use of social media by consumers therefore makes online consumer conversations an attractive additional format for Automobile firms to promote products at a lower cost. This research analyzes the relation between the activity in Social Media and the design in the car industry, looking for relations between strategies of design based on Social Media and sales and a channel of information for companies to know what the consumer preferences. For this ongoing research we used a longitudinal withdrawal of information has been used using information of panel. Managerial and research implications of the finding are discussed.

Keywords: Automobile Industry, Design, Economics Crisis, Innovation, Internet, Social Media.

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Authors: Rishabh Garg

Abstract:

Blockchain technology can allow remote, untrusted parties in the banking and financial sector to reach consensus on the state of databases without the involvement of gatekeepers. Like a bookkeeper, it can manage all financial transactions including payments, settlements, fundraising, securities management, loans, credits and trade finance. It can outperform existing systems in terms of identity verification, asset transfers, peer-to-peer transfers, hedge funds, security and auditability. Blockchain-based decentralized finance (DeFi) is a new financial protocol. Being open and programmable, it enables various DeFi use-cases, including asset management, tokenization, tokenized derivatives, decentralized autonomous organizations, data analysis and valuation, payments, lending and borrowing, insurance, margin trading, prediction market, gambling and yield-farming, etc. In addition, it can ease financial transactions, cash-flow, use of programmable currency, no-loss lotteries, etc. This paper aims to assess the potential of decentralized finance by leveraging the blockchain-enabled Ethereum platform as an alternative to traditional finance. The study also aims to find out the impact of decentralized finance on prediction markets, quadratic funding and crowd-funding, together with the potential challenges and solutions associated with its implementation.

Keywords: Advance trading, crowd funding, exchange tokens, fund aggregation, margin trading, quadratic funding, smart contracts, streaming money, token derivatives.

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Authors: Mohammad Ali Baradaran Ghahfarokhi, Parvin Baradaran Ghahfarokhi

Abstract:

In this paper, first we introduce the stable distribution, stable process and theirs characteristics. The a -stable distribution family has received great interest in the last decade due to its success in modeling data, which are too impulsive to be accommodated by the Gaussian distribution. In the second part, we propose major applications of alpha stable distribution in telecommunication, computer science such as network delays and signal processing and financial markets. At the end, we focus on using stable distribution to estimate measure of risk in stock markets and show simulated data with statistical softwares.

Keywords: stable distribution, SaS, infinite variance, heavy tail networks, VaR.

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