Search results for: Ion exchange
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 485

Search results for: Ion exchange

305 Query Optimization Techniques for XML Databases

Authors: Su Cheng Haw, G. S. V. Radha Krishna Rao

Abstract:

Over the past few years, XML (eXtensible Mark-up Language) has emerged as the standard for information representation and data exchange over the Internet. This paper provides a kick-start for new researches venturing in XML databases field. We survey the storage representation for XML document, review the XML query processing and optimization techniques with respect to the particular storage instance. Various optimization technologies have been developed to solve the query retrieval and updating problems. Towards the later year, most researchers proposed hybrid optimization techniques. Hybrid system opens the possibility of covering each technology-s weakness by its strengths. This paper reviews the advantages and limitations of optimization techniques.

Keywords: indexing, labeling scheme, query optimization, XML storage.

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304 On Constructing Approximate Convex Hull

Authors: M. Zahid Hossain, M. Ashraful Amin

Abstract:

The algorithms of convex hull have been extensively studied in literature, principally because of their wide range of applications in different areas. This article presents an efficient algorithm to construct approximate convex hull from a set of n points in the plane in O(n + k) time, where k is the approximation error control parameter. The proposed algorithm is suitable for applications preferred to reduce the computation time in exchange of accuracy level such as animation and interaction in computer graphics where rapid and real-time graphics rendering is indispensable.

Keywords: Convex hull, Approximation algorithm, Computational geometry, Linear time.

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303 Support Vector Fuzzy Based Neural Networks For Exchange Rate Modeling

Authors: Prof. Chokri SLIM

Abstract:

A Novel fuzzy neural network combining with support vector learning mechanism called support-vector-based fuzzy neural networks (SVBFNN) is proposed. The SVBFNN combine the capability of minimizing the empirical risk (training error) and expected risk (testing error) of support vector learning in high dimensional data spaces and the efficient human-like reasoning of FNN.

Keywords: Neural network, fuzzy inference, machine learning, fuzzy modeling and rule extraction, support vector regression.

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302 Integral Methods in the Determination of Temperature Fields of Cooled Blades of Gas Turbines

Authors: C. Ardil

Abstract:

A mathematical model and an effective numerical method for calculating the temperature field of the profile part of convection cooled blades have been developed. The theoretical substantiation of the method is proved by corresponding theorems. To this end, convergent quadrature processes were developed and error estimates were obtained in terms of the Zygmund continuity moduli.The boundary conditions for heat exchange are determined from the solution of the corresponding integral equations and empirical relations.The reliability of the developed methods is confirmed by the calculation-experimental studies of the thermohydraulic characteristics of the nozzle apparatus of the first stage of a gas turbine.

Keywords: Integral methods, determination of temperature fields, cooled blades, gas turbines.

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301 Numerical Modeling of Temperature Fields in Aviation Gas Turbine Elements

Authors: A. M. Pashaev, R. A. Sadihov, A. S. Samedov, C. Ardil

Abstract:

A mathematical model and a numerical method for computing the temperature field of the profile part of convectionally cooled blades are developed. The theoretical substantiation of the method is proved by corresponding theorems. To this end, convergent quadrature processes were developed and error estimates were obtained in terms of the Zygmund continuity moduli. The boundary conditions for heat exchange are determined from the solution of the corresponding integral equations and empirical relations. The reliability of the developed methods is confirmed by calculation and experimental studies of the thermohydraulic characteristics of the nozzle apparatus of the first stage of the gas turbine.

Keywords: Aviation gas turbine, temperature field, cooled blades, numerical modeling.

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300 Emotional Intelligence and Retention: The Moderating Role of Job Involvement

Authors: Mahfuz Judeh

Abstract:

The main aim of the current study was to examine the effect of emotional intelligence on retention. The study also aimed at analyzing the role of job involvement, as a moderator, in the effect of emotional intelligence on retention. Using data gathered from 241 employees working with hotels and tourism corporations listed in Amman Stock Exchange in Jordan, emotional intelligence, job involvement and retention were measured. Hierarchical regression analyses were used to test the three main hypotheses. Results indicated that retention was related to emotional intelligence. Moreover, the study yielded support for the claim that job involvement had a moderating effect on the relationship between emotional intelligence and retention.

Keywords: Emotional Intelligence, Job Involvement, Jordan, Retention.

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299 Knowledge Management in Cross- Organizational Networks as Illustrated by One of the Largest European ICT Associations A Case Study of the “METORA

Authors: Thomas Klauß

Abstract:

In networks, mainly small and medium-sized businesses benefit from the knowledge, experiences and solutions offered by experts from industry and science or from the exchange with practitioners. Associations which focus, among other things, on networking, information and knowledge transfer and which are interested in supporting such cooperations are especially well suited to provide such networks and the appropriate web platforms. Using METORA as an example – a project developed and run by the Federal Association for Information Economy, Telecommunications and New Media e.V. (BITKOM) for the Federal Ministry of Economics and Technology (BMWi) – This paper will discuss how associations and other network organizations can achieve this task and what conditions they have to consider.

Keywords: Associations, collaboration, communities, crossdepartmental organizations, semantic web, web 2.0.

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298 Numerical Simulation of High Pressure Hydrogen Emerges to Air

Authors: Mohamed H. Elhsnawi, Mesbah M. Salem, Saleh B. Mohamed

Abstract:

Numerical simulation performed to investigate the behavior of the high pressure hydrogen jetting of air. High pressure hydrogen (30–40 MPa) was injected to air at atmospheric pressure through 2mm orifice. Numerical simulations were performed with Kiva3V code with 2D axisymmetric geometry. Numerical simulations showed that auto ignition of high pressure hydrogen to air are possible due to molecular diffusion. Auto ignition was predicted at hydrogen-air contact surface due to mass and energy exchange between high temperature hydrogen and air heated by shock wave.

Keywords: Spontaneous Ignition, Diffusion Ignition, Hydrogen ignition, Hydrogen Jet.

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297 Corporate Governance Practices and Analysts Forecast Accuracy Evidence for Romania

Authors: M. Ionascu, L. Olimid

Abstract:

In the last few years, several steps were taken in order to improve the quality of corporate governance for Romanian listed companies. Higher standards of corporate governance is documented in the literature to lead to a better information environment, and, consequently, to increase analysts forecast accuracy. Accordingly, the purpose of this paper is to investigate the extent to which corporate governance policies affect analysts forecasts for companies listed on Bucharest Stock Exchange. The results showed that there is indeed a negative correlation between a corporate governance index – used as a proxy for the quality of corporate governance practices - and analysts forecast errors.

Keywords: corporate governance, aanalysts' forecasts, information environment

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296 A method of Authentication for Quantum Networks

Authors: Stefan Rass

Abstract:

Quantum cryptography offers a way of key agreement, which is unbreakable by any external adversary. Authentication is of crucial importance, as perfect secrecy is worthless if the identity of the addressee cannot be ensured before sending important information. Message authentication has been studied thoroughly, but no approach seems to be able to explicitly counter meet-in-the-middle impersonation attacks. The goal of this paper is the development of an authentication scheme being resistant against active adversaries controlling the communication channel. The scheme is built on top of a key-establishment protocol and is unconditionally secure if built upon quantum cryptographic key exchange. In general, the security is the same as for the key-agreement protocol lying underneath.

Keywords: Meet-in-the-middle attack, quantum key distribution, quantum networks, unconditionally secure authentication.

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295 ORR Activity and Stability of Pt-Based Electrocatalysts in PEM Fuel Cell

Authors: S. Limpattayanate, M. Hunsom

Abstract:

A comparison of activity and stability of the as-formed Pt/C, Pt-Co and Pt-Pd/C electrocatalysts, prepared by a combined approach of impregnation and seeding, was performed. According to the activity test in a single Proton Exchange Membrane (PEM) fuel cell, the Oxygen Reduction Reaction (ORR) activity of the Pt-M/C electrocatalyst was slightly lower than that of Pt/C. The j0.9 V and E10 mA/cm2 of the as-prepared electrocatalysts increased in the order of Pt/C > Pt-Co/C > Pt-Pd/C. However, in the medium-to-high current density region, Pt-Pd/C exhibited the best performance. With regard to their stability in a 0.5 M H2SO4 electrolyte solution, the electrochemical surface area decreased as the number of rounds of repetitive potential cycling increased due to the dissolution of the metals within the catalyst structure. For long-term measurement, Pt- Pd/C was the most stable than the other three electrocatalysts.

Keywords: ORR activity, Stability, Pt-based electrocatalysts, PEM fuel cell.

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294 Regional Medical Imaging System

Authors: Michal Javornik, Otto Dostal, Karel Slavicek

Abstract:

The purpose of this article is to introduce an advanced system for the support of processing of medical image information, and the terminology related to this system, which can be an important element to a faster transition to a fully digitalized hospital. The core of the system is a set of DICOM compliant applications running over a dedicated computer network. The whole integrated system creates a collaborative platform supporting daily routines in the radiology community, developing communication channels, supporting the exchange of information and special consultations among various medical institutions as well as supporting medical training for practicing radiologists and medical students. It gives the users outside of hospitals the tools to work in almost the same conditions as in the radiology departments.

Keywords: DICOM, Integration, Medical Education, MedicalImaging

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293 Proton-conducting PVA/PMA Hybrid Membranes for Fuel Cell Applications

Authors: Uma Thanganathan

Abstract:

The hybrid membranes containing inorganic materials in polymer matrix are identified as a remarkable family of proton conducting hybrid electrolytes. In this work, the proton conducting inorganic/organic hybrid membranes for proton exchange membrane fuel cells (PEMFCs) were prepared using polyvinyl alcohol (PVA), tetraethoxyorthosilane (TEOS) and heteropolyacid (HPA). The synthesized hybrid membranes were characterized by Fourier transform infrared spectroscopy (FTIR), X-ray diffraction spectroscopy (XRD), Scanning electron microscopy (SEM) and Thermogravimetry analysis (TGA). The effects of heteropolyacid incorporation on membrane properties, including morphology and thermal stability were extensively investigated.

Keywords: PEMFC, Hybrid membrane, FTIR, TGA, Phosphomolybdic acid

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292 Benefits from a SMED Application in a Punching Machine

Authors: Eric Costa, Sara Bragança, Rui Sousa, Anabela Alves

Abstract:

This paper presents an application of the Single-Minute Exchange of Die (SMED) methodology to a turret punching machine in an elevators company, in Portugal. The work was developed during five months, in the ambit of a master thesis in Industrial Engineering and Management. The Lean Production tool SMED was applied to reduce setup times in order to improve the production flexibility of the machine. The main results obtained were a reduction of 64% in setup time (from 15.1 to 5.4min), 50% in work-in-process amount (from 12.8 to 6.4 days) and 99% in the distance traveled by the operator during the internal period (from 136.7 to 1.7m). These improvements correspond to gains of about €7,315.38 per year.

Keywords: Lean production, setup process, SMED.

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291 International Financial Crises and the Political Economy of Financial Reforms in Turkey: 1994-2009

Authors: Birgül Şakar

Abstract:

This study1 holds for the formation of international financial crisis and political factors for economic crisis in Turkey, are evaluated in chronological order. The international arena and relevant studies conducted in Turkey work in the literature are assessed. The main purpose of the study is to hold the linkage between the crises and political stability in Turkey in details, and to examine the position of Turkey in this regard. The introduction part follows the literature survey on the models explaining causes and results of the crises, the second part of the study. In the third part, the formations of the world financial crises are studied. The fourth part, financial crisis in Turkey in 1994, 2000, 2001 and 2008 are reviewed and their political reasons are analyzed. In the last part of the study the results and recommendations are held. Political administrations have laid the grounds for an economic crisis in Turkey. In this study, the emergence of an economic crisis in Turkey and the developments after the crisis are chronologically examined and an explanation is offered as to the cause and effect relationship between the political administration and economic equilibrium in the country. Economic crises can be characterized as follows: high prices of consumables, high interest rates, current account deficits, budget deficits, structural defects in government finance, rising inflation and fixed currency applications, rising government debt, declining savings rates and increased dependency on foreign capital stock. Entering into the conditions of crisis during a time when the exchange value of the country-s national currency was rising, speculative finance movements and shrinking of foreign currency reserves happened due to expectations for devaluation and because of foreign investors- resistance to financing national debt, and a financial risk occurs. During the February 2001 crisis and immediately following, devaluation and reduction of value occurred in Turkey-s stock market. While changing over to the system of floating exchange rates in the midst of this crisis, the effects of the crisis on the real economy are discussed in this study. Administered politics include financial reforms, such as the rearrangement of banking systems. These reforms followed with the provision of foreign financial support. There have been winners and losers in the imbalance of income distribution, which has recently become more evident in Turkey-s fragile economy.

Keywords: Economics, marketing crisis, financial reforms, political economy

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290 Natural Language News Generation from Big Data

Authors: Bastian Haarmann, Lukas Sikorski

Abstract:

In this paper, we introduce an NLG application for the automatic creation of ready-to-publish texts from big data. The resulting fully automatic generated news stories have a high resemblance to the style in which the human writer would draw up such a story. Topics include soccer games, stock exchange market reports, and weather forecasts. Each generated text is unique. Readyto-publish stories written by a computer application can help humans to quickly grasp the outcomes of big data analyses, save timeconsuming pre-formulations for journalists and cater to rather small audiences by offering stories that would otherwise not exist. 

Keywords: Big data, natural language generation, publishing, robotic journalism.

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289 A Modified AES Based Algorithm for Image Encryption

Authors: M. Zeghid, M. Machhout, L. Khriji, A. Baganne, R. Tourki

Abstract:

With the fast evolution of digital data exchange, security information becomes much important in data storage and transmission. Due to the increasing use of images in industrial process, it is essential to protect the confidential image data from unauthorized access. In this paper, we analyze the Advanced Encryption Standard (AES), and we add a key stream generator (A5/1, W7) to AES to ensure improving the encryption performance; mainly for images characterised by reduced entropy. The implementation of both techniques has been realized for experimental purposes. Detailed results in terms of security analysis and implementation are given. Comparative study with traditional encryption algorithms is shown the superiority of the modified algorithm.

Keywords: Cryptography, Encryption, Advanced EncryptionStandard (AES), ECB mode, statistical analysis, key streamgenerator.

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288 A Semi- One Time Pad Using Blind Source Separation for Speech Encryption

Authors: Long Jye Sheu, Horng-Shing Chiou, Wei Ching Chen

Abstract:

We propose a new perspective on speech communication using blind source separation. The original speech is mixed with key signals which consist of the mixing matrix, chaotic signals and a random noise. However, parts of the keys (the mixing matrix and the random noise) are not necessary in decryption. In practice implement, one can encrypt the speech by changing the noise signal every time. Hence, the present scheme obtains the advantages of a One Time Pad encryption while avoiding its drawbacks in key exchange. It is demonstrated that the proposed scheme is immune against traditional attacks.

Keywords: one time pad, blind source separation, independentcomponent analysis, speech encryption.

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287 Depth-Averaged Modelling of Erosion and Sediment Transport in Free-Surface Flows

Authors: Thomas Rowan, Mohammed Seaid

Abstract:

A fast finite volume solver for multi-layered shallow water flows with mass exchange and an erodible bed is developed. This enables the user to solve a number of complex sediment-based problems including (but not limited to), dam-break over an erodible bed, recirculation currents and bed evolution as well as levy and dyke failure. This research develops methodologies crucial to the under-standing of multi-sediment fluvial mechanics and waterway design. In this model mass exchange between the layers is allowed and, in contrast to previous models, sediment and fluid are able to transfer between layers. In the current study we use a two-step finite volume method to avoid the solution of the Riemann problem. Entrainment and deposition rates are calculated for the first time in a model of this nature. In the first step the governing equations are rewritten in a non-conservative form and the intermediate solutions are calculated using the method of characteristics. In the second stage, the numerical fluxes are reconstructed in conservative form and are used to calculate a solution that satisfies the conservation property. This method is found to be considerably faster than other comparative finite volume methods, it also exhibits good shock capturing. For most entrainment and deposition equations a bed level concentration factor is used. This leads to inaccuracies in both near bed level concentration and total scour. To account for diffusion, as no vertical velocities are calculated, a capacity limited diffusion coefficient is used. The additional advantage of this multilayer approach is that there is a variation (from single layer models) in bottom layer fluid velocity: this dramatically reduces erosion, which is often overestimated in simulations of this nature using single layer flows. The model is used to simulate a standard dam break. In the dam break simulation, as expected, the number of fluid layers utilised creates variation in the resultant bed profile, with more layers offering a higher deviation in fluid velocity . These results showed a marked variation in erosion profiles from standard models. The overall the model provides new insight into the problems presented at minimal computational cost.

Keywords: Erosion, finite volume method, sediment transport, shallow water equations.

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286 An Enhanced Fault-Tolerant Conference Key Agreement Protocol

Authors: Cheng-Chi Lee, Chun-Ta Li, Chia-Ying Wu, Shiow-Yuan Huang

Abstract:

Establishing a secure communication of Internet conferences for participants is very important. Before starting the conference, all the participants establish a common conference key to encrypt/decrypt communicated messages. It enables participants to exchange the secure messages. Nevertheless, in the conference, if there are any malicious participants who may try to upset the key generation process causing other legal participants to obtain a different conference key. In this article, we propose an improved conference key agreement with fault-tolerant capability. The proposed scheme can filter malicious participants at the beginning of the conference to ensure that all participants obtain the same conference key. Compare with other schemes, our scheme is more secure and efficient than others.

Keywords: Conference key, Diffie-Hellman protocol, key agreement, fault tolerance.

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285 Approaches and Schemes for Storing DTD-Independent XML Data in Relational Databases

Authors: Mehdi Emadi, Masoud Rahgozar, Adel Ardalan, Alireza Kazerani, Mohammad Mahdi Ariyan

Abstract:

The volume of XML data exchange is explosively increasing, and the need for efficient mechanisms of XML data management is vital. Many XML storage models have been proposed for storing XML DTD-independent documents in relational database systems. Benchmarking is the best way to highlight pros and cons of different approaches. In this study, we use a common benchmarking scheme, known as XMark to compare the most cited and newly proposed DTD-independent methods in terms of logical reads, physical I/O, CPU time and duration. We show the effect of Label Path, extracting values and storing in another table and type of join needed for each method's query answering.

Keywords: XML Data Management, XPath, DTD-IndependentXML Data

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284 Approaches and Schemes for Storing DTDIndependent XML Data in Relational Databases

Authors: Mehdi Emadi, Masoud Rahgozar, Adel Ardalan, Alireza Kazerani, Mohammad Mahdi Ariyan

Abstract:

The volume of XML data exchange is explosively increasing, and the need for efficient mechanisms of XML data management is vital. Many XML storage models have been proposed for storing XML DTD-independent documents in relational database systems. Benchmarking is the best way to highlight pros and cons of different approaches. In this study, we use a common benchmarking scheme, known as XMark to compare the most cited and newly proposed DTD-independent methods in terms of logical reads, physical I/O, CPU time and duration. We show the effect of Label Path, extracting values and storing in another table and type of join needed for each method-s query answering.

Keywords: XML Data Management, XPath, DTD-Independent XML Data.

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283 The Transformative Impact of Telecommunication in Africa: Connecting Nations, Empowering Lives

Authors: I. M. Mungadi, M. S. Argungu

Abstract:

This study delves into the transformative impact of telecommunication in Africa, illuminating its role in connecting nations and empowering lives across the continent. Over recent decades, the rapid expansion of telecommunication infrastructure has become a powerful force, fostering socio-economic growth and development. Beyond the exchange of information, this digital revolution has influenced education, healthcare, commerce, governance, and social interaction. The abstract explores the multifaceted dimensions of telecommunication's influence on Africa, addressing both its positive transformations and the challenges it presents. By examining the dynamic interplay between technological advancements and societal changes, this research contributes to a nuanced understanding of how telecommunication is shaping a more interconnected, informed, and empowered Africa.

Keywords: Transformative, telecommunication, nations, empowering, connecting.

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282 Carbon Nanotubes Synthesized Using Sugar Cane as a Percursor

Authors: Vanessa Romanovicz, Beatriz A. Berns, Stephen D. Carpenter, Deyse Carpenter

Abstract:

This article deals with the carbon nanotubes (CNT) synthesized from a novel precursor, sugar cane and Anodic Aluminum Oxide (AAO). The objective was to produce CNTs to be used as catalyst supports for Proton Exchange Membranes. The influence of temperature, inert gas flow rate and concentration of the precursor is presented. The CNTs prepared were characterized using TEM, XRD, Raman Spectroscopy, and the surface area determined by BET. The results show that it is possible to form CNT from sugar cane by pyrolysis and the CNTs are the type multi-walled carbon nanotubes. The MWCNTs are short and closed at the two ends with very small surface area of SBET= 3.691m,/g.

Keywords: Carbon nanotubes, sugar cane, fuel cell, catalyst support.

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281 Accounting Policies in Polish and International Legal Regulations

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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280 Modeling Prices of Electricity Futures at EEX

Authors: Robest Flasza, Milan Rippel, Jan Solc

Abstract:

The main aim of this paper is to develop and calibrate an econometric model for modeling prices of long term electricity futures contracts. The calibration of our model is performed on data from EEX AG allowing us to capture the specific features of German electricity market. The data sample contains several structural breaks which have to be taken into account for modeling. We model the data with an ARIMAX model which reveals high correlation between the price of electricity futures contracts and prices of LT futures contracts of fuels (namely coal, natural gas and crude oil). Besides this, also a share price index of representative electricity companies traded on Xetra, spread between 10Y and 1Y German bonds and exchange rate between EUR and USD appeared to have significant explanatory power over these futures contracts on EEX.

Keywords: electricity futures, EEX, ARIMAX, emissionallowances

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279 Investigating Student Behavior in Adopting Online Formative Assessment Feedback

Authors: Peter Clutterbuck, Terry Rowlands, Owen Seamons

Abstract:

In this paper we describe one critical research program within a complex, ongoing multi-year project (2010 to 2014 inclusive) with the overall goal to improve the learning outcomes for first year undergraduate commerce/business students within an Information Systems (IS) subject with very large enrolment. The single research program described in this paper is the analysis of student attitudes and decision making in relation to the availability of formative assessment feedback via Web-based real time conferencing and document exchange software (Adobe Connect). The formative assessment feedback between teaching staff and students is in respect of an authentic problem-based, team-completed assignment. The analysis of student attitudes and decision making is investigated via both qualitative (firstly) and quantitative (secondly) application of the Theory of Planned Behavior (TPB) with a two statistically-significant and separate trial samples of the enrolled students. The initial qualitative TPB investigation revealed that perceived self-efficacy, improved time-management, and lecturer-student relationship building were the major factors in shaping an overall favorable student attitude to online feedback, whilst some students expressed valid concerns with perceived control limitations identified within the online feedback protocols. The subsequent quantitative TPB investigation then confirmed that attitude towards usage, subjective norms surrounding usage, and perceived behavioral control of usage were all significant in shaping student intention to use the online feedback protocol, with these three variables explaining 63 percent of the variance in the behavioral intention to use the online feedback protocol. The identification in this research of perceived behavioral control as a significant determinant in student usage of a specific technology component within a virtual learning environment (VLE) suggests that VLEs could now be viewed not as a single, atomic entity, but as a spectrum of technology offerings ranging from the mature and simple (e.g., email, Web downloads) to the cutting-edge and challenging (e.g., Web conferencing and real-time document exchange). That is, that all VLEs should not be considered the same. The results of this research suggest that tertiary students have the technological sophistication to assess a VLE in this more selective manner.

Keywords: Formative assessment feedback, virtual learning environment, theory of planned behavior, perceived behavioral control.

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278 Feedback-Controlled Server for Scheduling Aperiodic Tasks

Authors: Shinpei Kato, Nobuyuki Yamasaki

Abstract:

This paper proposes a scheduling scheme using feedback control to reduce the response time of aperiodic tasks with soft real-time constraints. We design an algorithm based on the proposed scheduling scheme and Total Bandwidth Server (TBS) that is a conventional server technique for scheduling aperiodic tasks. We then describe the feedback controller of the algorithm and give the control parameter tuning methods. The simulation study demonstrates that the algorithm can reduce the mean response time up to 26% compared to TBS in exchange for slight deadline misses.

Keywords: Real-Time Systems, Aperiodic Task Scheduling, Feedback-Control Scheduling, Total Bandwidth Server.

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277 Nonstationarity Modeling of Economic and Financial Time Series

Authors: C. Slim

Abstract:

Traditional techniques for analyzing time series are based on the notion of stationarity of phenomena under study, but in reality most economic and financial series do not verify this hypothesis, which implies the implementation of specific tools for the detection of such behavior. In this paper, we study nonstationary non-seasonal time series tests in a non-exhaustive manner. We formalize the problem of nonstationary processes with numerical simulations and take stock of their statistical characteristics. The theoretical aspects of some of the most common unit root tests will be discussed. We detail the specification of the tests, showing the advantages and disadvantages of each. The empirical study focuses on the application of these tests to the exchange rate (USD/TND) and the Consumer Price Index (CPI) in Tunisia, in order to compare the Power of these tests with the characteristics of the series.

Keywords: Stationarity, unit root tests, economic time series.

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276 Relationship between Financial Reporting Transparency and Investment Efficiency: Evidence from Iran

Authors: Bita Mashayekhi, Hamid Kalhornia

Abstract:

One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations.

Keywords: Corporate governance, disclosure, investment decisions, investment efficiency, transparency.

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