Italian Central Guarantee Fund: An Analysis of the Guaranteed SMEs’ Default Risk

Italian Central Guarantee Fund (CGF) has the purpose to facilitate Small and Medium-sized Enterprises (SMEs)’ access to credit. The aim of the paper is to study the evaluation method adopted by the CGF with regard to SMEs requiring its intervention. This is even more important in the light of the recent CGF reform. We analyse an initial sample of more than 500.000 guarantees from 2012 to 2018. We distinguish between a counter-guarantee delivered to a mutual guarantee institution and a guarantee directly delivered to a bank. We investigate the impact of variables related to the operations and the SMEs on Altman Z’’-score and the score consistent with CGF methodology. We verify that the type of intervention affects the scores and the initial condition changes with the new assessment criterions. 

Analyzing Environmental Emotive Triggers in Terrorist Propaganda

The purpose of this study is to measure the intersection of environmental security entities in terrorist propaganda. To the best of author’s knowledge, this is the first study of its kind to examine this intersection within terrorist propaganda. Rosoka, natural language processing software and frame analysis are used to advance our understanding of how environmental frames function as emotive triggers. Violent jihadi demagogues use frames to suggest violent and non-violent solutions to their grievances. Emotive triggers are framed in a way to leverage individual and collective attitudes in psychological warfare. A comparative research design is used because of the differences and similarities that exist between two variants of violent jihadi propaganda that target western audiences. Analysis is based on salience and network text analysis, which generates violent jihadi semantic networks. Findings indicate that environmental frames are used as emotive triggers across both data sets, but also as tactical and information data points. A significant finding is that certain core environmental emotive triggers like “water,” “soil,” and “trees” are significantly salient at the aggregate level across both data sets. All environmental entities can be classified into two categories, symbolic and literal. Importantly, this research illustrates how demagogues use environmental emotive triggers in cyber space from a subcultural perspective to mobilize target audiences to their ideology and praxis. Understanding the anatomy of propaganda construction is necessary in order to generate effective counter narratives in information operations. This research advances an additional method to inform practitioners and policy makers of how environmental security and propaganda intersect.

Designing an Integrated Platform for Real-Time Recommendations Sharing among the Aged and People Living with Cancer

The world is expected to experience growth in the number of ageing population, and this will bring about high cost of providing care for these valuable citizens. In addition, many of these live with chronic diseases that come with old age. Providing adequate care in the face of rising costs and dwindling personnel can be challenging. However, advances in technologies and emergence of the Internet of Things are providing a way to address these challenges while improving care giving. This study proposes the integration of recommendation systems into homecare to provide real-time recommendations for effective management of people receiving care at home and those living with chronic diseases. Using the simplified Training Logic Concept, stakeholders and requirements were identified. Specific requirements were gathered from people living with cancer. The solution designed has two components namely home and community, to enhance recommendations sharing for effective care giving. The community component of the design was implemented with the development of a mobile app called Recommendations Sharing Community for Aged and Chronically Ill People (ReSCAP). This component has illustrated the possibility of real-time recommendations, improved recommendations sharing among care receivers and between a physician and care receivers. Full implementation will increase access to health data for better care decision making.

Government Responses to the Survivors of Trafficking in Human Beings: A Study of Albania

This paper presents Albanian government policies regarding the reintegration process for returning Albanian survivors of trafficking in human beings. Focusing on an in-depth analysis of governmental, non-governmental documents and semi-structured qualitative interviews conducted with service providers and trafficking survivors. Furthermore, this paper will especially focus on the governmental efforts to provide support to the survivors, focusing on their needs and challenges. This study explores the conditions and actual services provided to the survivors of trafficking in human beings that are in the reintegration process in Albania. Moreover, it examines the responsible mechanisms accountable for the reintegration process, by analysing synergies between governmental and non-governmental organisations. Also, this paper explores the governmental approach towards trafficking survivors and apprises policymakers to undertake changes and reforms in their future actions.

Modelling Hydrological Time Series Using Wakeby Distribution

The statistical modelling of precipitation data for a given portion of territory is fundamental for the monitoring of climatic conditions and for Hydrogeological Management Plans (HMP). This modelling is rendered particularly complex by the changes taking place in the frequency and intensity of precipitation, presumably to be attributed to the global climate change. This paper applies the Wakeby distribution (with 5 parameters) as a theoretical reference model. The number and the quality of the parameters indicate that this distribution may be the appropriate choice for the interpolations of the hydrological variables and, moreover, the Wakeby is particularly suitable for describing phenomena producing heavy tails. The proposed estimation methods for determining the value of the Wakeby parameters are the same as those used for density functions with heavy tails. The commonly used procedure is the classic method of moments weighed with probabilities (probability weighted moments, PWM) although this has often shown difficulty of convergence, or rather, convergence to a configuration of inappropriate parameters. In this paper, we analyze the problem of the likelihood estimation of a random variable expressed through its quantile function. The method of maximum likelihood, in this case, is more demanding than in the situations of more usual estimation. The reasons for this lie, in the sampling and asymptotic properties of the estimators of maximum likelihood which improve the estimates obtained with indications of their variability and, therefore, their accuracy and reliability. These features are highly appreciated in contexts where poor decisions, attributable to an inefficient or incomplete information base, can cause serious damages.

The Impact of Socio-Economic and Type of Religion on the Behavior of Obedience among Arab-Israeli Teenagers

This article examines the relationship between several socio-economic and background variables of Arab-Israeli families and their effect on the conflict management style of forcing, where teenage children are expected to obey their parents without questioning. The article explores the inter-generational gap and the desire of Arab-Israeli parents to force their teenage children to obey without questioning. The independent variables include: the sex of the parent, religion (Christian or Muslim), income of the parent, years of education of the parent, and the sex of the teenage child. We use the dependent variable of “Obedience Without Questioning” that is reported twice: by each of the parents as well as by the children. We circulated a questionnaire and collected data from a sample of 180 parents and their adolescent child living in the Galilee area during 2018. In this questionnaire we asked each of the parent and his/her teenage child about whether the latter is expected to follow the instructions of the former without questioning. The outcome of this article indicates, first, that Christian-Arab families are less authoritarian than Muslims families in demanding sheer obedience from their children. Second, female parents indicate more than male parents that their teenage child indeed obeys without questioning. Third, there is a negative correlation between the variable “Income” and “Obedience without Questioning.” Yet, the regression coefficient of this variable is close zero. Fourth, there is a positive correlation between years of education and obedience reported by the children. In other words, more educated parents are more likely to demand obedience from their children.  Finally, after running the regression, the study also found that the impact of the variables of religion as well as the sex of the child on the dependent variable of obedience is also significant at above 95 and 90%, respectively.

The Carbon Footprint Model as a Plea for Cities towards Energy Transition: The Case of Algiers Algeria

Environmental sustainability rather than a trans-disciplinary and a scientific issue, is the main problem that characterizes all modern cities nowadays. In developing countries, this concern is expressed in a plethora of critical urban ills: traffic congestion, air pollution, noise, urban decay, increase in energy consumption and CO2 emissions which blemish cities’ landscape and might threaten citizens’ health and welfare. As in the same manner as developing world cities, the rapid growth of Algiers’ human population and increasing in city scale phenomena lead eventually to increase in daily trips, energy consumption and CO2 emissions. In addition, the lack of proper and sustainable planning of the city’s infrastructure is one of the most relevant issues from which Algiers suffers. The aim of this contribution is to estimate the carbon deficit of the City of Algiers, Algeria, using the Ecological Footprint Model (carbon footprint). In order to achieve this goal, the amount of CO2 from fuel combustion has been calculated and aggregated into five sectors (agriculture, industry, residential, tertiary and transportation); as well, Algiers’ biocapacity (CO2 uptake land) has been calculated to determine the ecological overshoot. This study shows that Algiers’ transport system is not sustainable and is generating more than 50% of Algiers total carbon footprint which cannot be sequestered by the local forest land. The aim of this research is to show that the Carbon Footprint Assessment might be a relevant indicator to design sustainable strategies/policies striving to reduce CO2 by setting in motion the energy consumption in the transportation sector and reducing the use of fossil fuels as the main energy input.

Managing the Baltic Sea Region Resilience: Prevention, Treatment Actions and Circular Economy

The worldwide future sustainable economies are oriented towards the sea: the maritime economy is becoming one of the strongest driving forces in many regions as population growth is the highest in coastal areas. For hundreds of years sea resources were depleted unsustainably by fishing, mining, transportation, tourism, and waste. European Sustainable Development Strategy is identifying and developing actions to enable the EU to achieve a continuous, long-term improvement of the quality of life through the creation of sustainable communities. The aim of this paper is to provide insight in Baltic Sea Region case studies on implemented actions on tourism industry waste and beach wrack management in coastal areas, hazardous contaminants and plastic flow treatment from waste, wastewaters and stormwaters. These projects mentioned in study promote successful prevention of contaminant flows to the sea environments and provide perspectives for creation of valuable new products from residuals for future circular economy are the step forward to green innovation winning streak.

Comparison of Data Reduction Algorithms for Image-Based Point Cloud Derived Digital Terrain Models

Digital Terrain Model (DTM) is a digital numerical representation of the Earth's surface. DTMs have been applied to a diverse field of tasks, such as urban planning, military, glacier mapping, disaster management. In the expression of the Earth' surface as a mathematical model, an infinite number of point measurements are needed. Because of the impossibility of this case, the points at regular intervals are measured to characterize the Earth's surface and DTM of the Earth is generated. Hitherto, the classical measurement techniques and photogrammetry method have widespread use in the construction of DTM. At present, RADAR, LiDAR, and stereo satellite images are also used for the construction of DTM. In recent years, especially because of its superiorities, Airborne Light Detection and Ranging (LiDAR) has an increased use in DTM applications. A 3D point cloud is created with LiDAR technology by obtaining numerous point data. However recently, by the development in image mapping methods, the use of unmanned aerial vehicles (UAV) for photogrammetric data acquisition has increased DTM generation from image-based point cloud. The accuracy of the DTM depends on various factors such as data collection method, the distribution of elevation points, the point density, properties of the surface and interpolation methods. In this study, the random data reduction method is compared for DTMs generated from image based point cloud data. The original image based point cloud data set (100%) is reduced to a series of subsets by using random algorithm, representing the 75, 50, 25 and 5% of the original image based point cloud data set. Over the ANS campus of Afyon Kocatepe University as the test area, DTM constructed from the original image based point cloud data set is compared with DTMs interpolated from reduced data sets by Kriging interpolation method. The results show that the random data reduction method can be used to reduce the image based point cloud datasets to 50% density level while still maintaining the quality of DTM.

Map UI Design of IoT Application Based on Passenger Evacuation Behaviors in Underground Station

When the public space is in an emergency, how to quickly establish spatial cognition and emergency shelter in the closed underground space is the urgent task. This study takes Taipei Station as the research base and aims to apply the use of Internet of things (IoT) application for underground evacuation mobility design. The first experiment identified passengers' evacuation behaviors and spatial cognition in underground spaces by wayfinding tasks and thinking aloud, then defined the design conditions of User Interface (UI) and proposed the UI design.  The second experiment evaluated the UI design based on passengers' evacuation behaviors by wayfinding tasks and think aloud again as same as the first experiment. The first experiment found that the design conditions that the subjects were most concerned about were "map" and hoping to learn the relative position of themselves with other landmarks by the map and watch the overall route. "Position" needs to be accurately labeled to determine the location in underground space. Each step of the escape instructions should be presented clearly in "navigation bar." The "message bar" should be informed of the next or final target exit. In the second experiment with the UI design, we found that the "spatial map" distinguishing between walking and non-walking areas with shades of color is useful. The addition of 2.5D maps of the UI design increased the user's perception of space. Amending the color of the corner diagram in the "escape route" also reduces the confusion between the symbol and other diagrams. The larger volume of toilets and elevators can be a judgment of users' relative location in "Hardware facilities." Fire extinguisher icon should be highlighted. "Fire point tips" of the UI design indicated fire with a graphical fireball can convey precise information to the escaped person. "Fire point tips" of the UI design indicated fire with a graphical fireball can convey precise information to the escaped person. However, "Compass and return to present location" are less used in underground space.

Study of Dual Fuel Engine as Environmentally Friendly Engine

The diesel engine is an internal combustion engine that uses compressed air to combust. The diesel engines are widely used in the world because it has the most excellent combustion efficiency than other types of internal combustion engine.  However, the exhaust emissions of it produce pollutants that are harmful to human health and the environment. Therefore, natural gas used as an alternative fuel using on compression ignition engine to respond those environment issues. This paper aims to discuss the comparison of the technical characteristics and exhaust gases emission from conventional diesel engine and dual fuel diesel engine. According to the study, the dual fuel engine applications have a lower compression pressure and has longer ignition delay compared with normal diesel mode. The engine power is decreased at dual fuel mode. However, the exhaust gases emission on dual fuel engine significantly reduce the nitrogen oxide (NOx), carbon dioxide (CO2) and particular metter (PM) emissions.

Sustainable Building Technologies for Post-Disaster Temporary Housing: Integrated Sustainability Assessment and Life Cycle Assessment

After natural disasters, displaced people (DP) require important numbers of housing units, which have to be erected quickly due to emergency pressures. These tight timeframes can cause the multiplication of the environmental construction impacts. These negative impacts worsen the already high energy consumption and pollution caused by the building sector. Indeed, post-disaster housing, which is often carried out without pre-planning, usually causes high negative environmental impacts, besides other economic and social impacts. Therefore, it is necessary to establish a suitable strategy to deal with this problem which also takes into account the instability of its causes, like changing ratio between rural and urban population. To this end, this study aims to present a model that assists decision-makers to choose the most suitable building technology for post-disaster housing units. This model focuses on the alternatives sustainability and fulfillment of the stakeholders’ satisfactions. Four building technologies have been analyzed to determine the most sustainability technology and to validate the presented model. In 2003, Bam earthquake DP had their temporary housing units (THUs) built using these four technologies: autoclaved aerated concrete blocks (AAC), concrete masonry unit (CMU), pressed reeds panel (PR), and 3D sandwich panel (3D). The results of this analysis confirm that PR and CMU obtain the highest sustainability indexes. However, the second life scenario of THUs could have considerable impacts on the results.

Gender Differences in Risk Aversion Behavior: Case Study of Saudi Arabia and Jordan

Men and women have different approaches towards investing, both in terms of strategies and risk attitudes. This study aims to focus mainly on investigating the financial risk behaviors of Arab women investors and to examine the financial risk tolerance levels of Arab women relative to Arab men investors. Using survey data on 547 Arab men and women investors, the results of Wilcoxon Signed-Rank (One-Sample) test Mann-Whitney U test reveal that Arab women are risk-averse investors and have lower financial risk tolerance levels relative to Arab men. Such findings can be explained by the fact of women's nature and lower investment literacy levels. Further, the current political uncertainty in the Arab region may be considered as another explanation of Arab women’s risk aversion behavior. The study's findings support the existing literature by validating the stereotype of “women are more risk-averse than men” in the Arab region. Overall, when it comes to investment and financial behaviors, women around the world behave similarly.

The Role of Ideophones: Phonological and Morphological Characteristics in Literature

Many Asian languages, such as Korean and Japanese, are well-known for their wide use of sound symbolic words or ideophones. This is a very particular characteristic which enriches its lexicon hugely. Ideophones are a class of sound symbolic words that utilize sound symbolism to express aspects, states, emotions, or conditions that can be experienced through the senses, such as shape, color, smell, action or movement. Ideophones have very particular characteristics in terms of sound symbolism and morphology, which distinguish them from other words. The phonological characteristics of ideophones are vowel ablaut or vowel gradation and consonant mutation. In the case of Korean, there are light vowels and dark vowels. Depending on the type of vowel that is used, the meaning will slightly change. Consonant mutation, also known as consonant ablaut, contributes to the level of intensity, emphasis, and volume of an expression. In addition to these phonological characteristics, there is one main morphological singularity, which is reduplication and it carries the meaning of continuity, repetition, intensity, emphasis, and plurality. All these characteristics play an important role in both linguistics and literature as they enhance the meaning of what is trying to be expressed with incredible semantic detail, expressiveness, and rhythm. The following study will analyze the ideophones used in a single paragraph of a Korean novel, which add incredible yet subtle detail to the meaning of the words, and advance the expressiveness and rhythm of the text. The results from analyzing one paragraph from a novel, after presenting the phonological and morphological characteristics of Korean ideophones, will evidence the important role that ideophones play in literature. 

Influence of Organic Supplements on Shoot Multiplication Efficiency of Phaius tankervilleae var. alba

The influence of organic supplements on growth and multiplication efficiency of Phaius tankervilleae var. alba seedlings was investigated. 12 week-old seedlings were cultured on half-strength semi-solid Murashige and Skoog (MS) medium supplemented with 30 g/L sucrose, 8 g/L agar and various concentrations of coconut water (0, 50, 100, 150 and 200 mL/L) combined with potato extract (0, 25 and 50 g/L) and the pH was adjusted to 5.8 prior to autoclaving. The cultures were then kept under constant photoperiod (16 h light: 8 h dark) at 25 ± 2 °C for 12 weeks. The highest number of shoots (3.0 shoots/explant) was obtained when cultured on the medium added with 50 ml/L coconut water and 50 g/L potato extract whereas the highest number of leaves (5.9 leaves/explant) and roots (6.1 roots/explant) could receive on the medium supplemented with 150 ml/L coconut water and 50 g/L potato extract. with 150 ml/L coconut water and 50 g/L potato extract. Additionally, plantlets of P. tankervilleae var. alba were transferred to grow into seven different substrates i.e. soil, sand, coconut husk chip, soil-sand mix (1: 1), soil-coconut husk chip mix (1: 1), sand-coconut husk chip mix (1: 1) and soil-sand-coconut husk chip mix (1: 1: 1) for four weeks. The results found that acclimatized plants showed 100% of survivals when sand, coconut husk chip and sand-coconut husk chip mix are used as substrates. The number of leaves induced by sand-coconut husk chip mix was significantly higher than that planted in other substrates (P > 0.05). Meanwhile, no significant difference in new shoot formation among these substrates was observed (P < 0.05). This precursory developing protocol was likely to be applied for more large scale of plant production as well as conservation of germplasm of this orchid species.

Using Divergent Nozzle with Aerodynamic Lens to Focus Nanoparticles

ANSYS Fluent will be used to simulate Computational Fluid Dynamics (CFD) for an efficient lens and nozzle design which will be explained in this paper. We have designed and characterized an aerodynamic lens and a divergent nozzle for focusing flow that transmits sub 25 nm particles through the aerodynamic lens. The design of the lens and nozzle has been improved using CFD for particle trajectories. We obtained a case for calculating nanoparticles (25 nm) flowing through the aerodynamic lens and divergent nozzle. Nanoparticles are transported by air, which is pumped into the aerodynamic lens through the nozzle at 1 atmospheric pressure. We have also developed a computational methodology that can determine the exact focus characteristics of aerodynamic lens systems. Particle trajectories were traced using the Lagrange approach. The simulation shows the ability of the aerodynamic lens to focus on 25 nm particles after using a divergent nozzle.

Perspectives on Sustainable Bioeconomy in the Baltic Sea Region

‘Bioeconomy’ is a complex concept that cuts across many sectors and covers several policy areas. To achieve an overall understanding and support a successful bioeconomy, a cross-sectorial approach is necessary. In practice, due to the concept’s wide scope and varying international approaches, fully understanding bioeconomy is challenging on policy level. This paper provides a background of the topic through an analysis of bioeconomy strategies in the Baltic Sea region. Expert interviews and a small survey were conducted to discover the current and intended focuses of these countries’ bioeconomy sectors. The research shows that supporting sustainability is one of the keys in developing the future bioeconomy. The results highlighted that the bioeconomy has to be sustainable and based on circular economy principles. Currently, traditional bioeconomy sectors like food, wood, fish & waters as well as fuel & energy, which are in the core of national bioeconomy strategies, are best known and are considered more relevant than other bioeconomy industries. However, there is increasing potential for novel sectors, such as textiles and pharmaceuticals. The present research indicates that the opportunities presented by these bioeconomy sectors should be recognised and promoted. Education, research and innovation can play key roles in developing transformative and sustainable improvements in primary production and renewable resources. Furthermore, cooperation between businesses and educators is important.

Fabrication and Characterization of Al2O3 Based Electrical Insulation Coatings Around SiC Fibers

In structural-health monitoring of fiber reinforced plastics (FRPs), every single inorganic fiber sensor that are integrated into the bulk material requires an electrical insulation around itself, when the surrounding reinforcing fibers are electrically conductive. This results in a more accurate data acquisition only from the sensor fiber without any electrical interventions. For this purpose, thin nano-films of aluminium oxide (Al2O3)-based electrical-insulation coatings have been fabricated around the Silicon Carbide (SiC) single fiber sensors through reactive DC magnetron sputtering technique. The sputtered coatings were amorphous in nature and the thickness of the coatings increased with an increase in the sputter time. Microstructural characterization of the coated fibers performed using scanning electron microscopy (SEM) confirmed a homogeneous circumferential coating with no detectable defects or cracks on the surface. X-ray diffraction (XRD) analyses of the as-sputtered and 2 hours annealed coatings (825 & 1125 ˚C) revealed the amorphous and crystalline phases of Al2O3 respectively. Raman spectroscopic analyses produced no characteristic bands of Al2O3, as the thickness of the films was in the nanometer (nm) range, which is too small to overcome the actual penetration depth of the laser used. In addition, the influence of the insulation coatings on the mechanical properties of the SiC sensor fibers has been analyzed.

A Prediction Model Using the Price Cyclicality Function Optimized for Algorithmic Trading in Financial Market

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.

Comprehensive Studies on the Aerodynamic Characteristics of Subsonic Scarf Inlets

For scarf inlet design, the primary variable of interest is the circumferential extent over which the extended lower lip is formed. In this paper, an attempt has been made to optimize the aerodynamic shape of a subsonic scarf inlet with aerodynamically shaped center-body with a particular value of the circumferential extent. The parametric analytical studies have been carried out using a Spalart-Allmaras turbulence model. From our preliminary studies, we concluded that for a particular value of circumferential extent, there will be an exact shape of the center-body with certain geometric orientation for the existence of an aerodynamically efficient scarf inlet for modern aircraft engines. This numerical study is a pointer towards for the design optimization of scarf inlets for modern aircraft engines.