Abstract: Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.
Abstract: The purpose of this study was to explore the
relationship between knowledge sharing and innovation capability,
by examining the influence of individual, organizational and
technological factors on knowledge sharing. The research is based
on a survey of 103 employees from different organizations in the
United Arab Emirates. The study is based on a model and a
questionnaire that was previously tested by Lin [1]. Thus, the study
aims at examining the validity of that model in UAE context. The
results of the research show varying degrees of correlation between
the different variables, with ICT use having the strongest relationship
with the innovation capabilities of organizations. The study also
revealed little evidence of knowledge collecting and knowledge
sharing among UAE employees.
Abstract: This paper presents an environmental and technoeconomic
evaluation of light duty vehicles in Iran. A comprehensive
well-to-wheel (WTW) analysis is applied to compare different
automotive fuel chains, conventional internal combustion engines and
innovative vehicle powertrains. The study examines the
competitiveness of 15 various pathways in terms of energy
efficiencies, GHG emissions, and levelized cost of different energy
carriers. The results indicate that electric vehicles including battery
electric vehicles (BEV), fuel cell vehicles (FCV) and plug-in hybrid
electric vehicles (PHEV) increase the WTW energy efficiency by
54%, 51% and 46%, respectively, compared to common internal
combustion engines powered by gasoline. On the other hand,
greenhouse gas (GHG) emissions per kilometer of FCV and BEV
would be 48% lower than that of gasoline engines. It is concluded
that BEV has the lowest total cost of energy consumption and
external cost of emission, followed by internal combustion engines
(ICE) fueled by CNG. Conventional internal combustion engines
fueled by gasoline, on the other hand, would have the highest costs.
Abstract: Eye localization is necessary for face recognition and
related application areas. Most of eye localization algorithms reported
so far still need to be improved about precision and computational
time for successful applications. In this paper, we propose an eye
location method based on multi-scale Gabor feature vectors, which is
more robust with respect to initial points. The eye localization based
on Gabor feature vectors first needs to constructs an Eye Model Bunch
for each eye (left or right eye) which consists of n Gabor jets and
average eye coordinates of each eyes obtained from n model face
images, and then tries to localize eyes in an incoming face image by
utilizing the fact that the true eye coordinates is most likely to be very
close to the position where the Gabor jet will have the best Gabor jet
similarity matching with a Gabor jet in the Eye Model Bunch. Similar
ideas have been already proposed in such as EBGM (Elastic Bunch
Graph Matching). However, the method used in EBGM is known to be
not robust with respect to initial values and may need extensive search
range for achieving the required performance, but extensive search
ranges will cause much more computational burden. In this paper, we
propose a multi-scale approach with a little increased computational
burden where one first tries to localize eyes based on Gabor feature
vectors in a coarse face image obtained from down sampling of the
original face image, and then localize eyes based on Gabor feature
vectors in the original resolution face image by using the eye
coordinates localized in the coarse scaled image as initial points.
Several experiments and comparisons with other eye localization
methods reported in the other papers show the efficiency of our
proposed method.
Abstract: Radio frequency identification (RFID) applications have grown rapidly in many industries, especially in indoor location identification. The advantage of using received signal strength indicator (RSSI) values as an indoor location measurement method is a cost-effective approach without installing extra hardware. Because the accuracy of many positioning schemes using RSSI values is limited by interference factors and the environment, thus it is challenging to use RFID location techniques based on integrating positioning algorithm design. This study proposes the location estimation approach and analyzes a scheme relying on RSSI values to minimize location errors. In addition, this paper examines different factors that affect location accuracy by integrating the backpropagation neural network (BPN) with the LANDMARC algorithm in a training phase and an online phase. First, the training phase computes coordinates obtained from the LANDMARC algorithm, which uses RSSI values and the real coordinates of reference tags as training data for constructing an appropriate BPN architecture and training length. Second, in the online phase, the LANDMARC algorithm calculates the coordinates of tracking tags, which are then used as BPN inputs to obtain location estimates. The results show that the proposed scheme can estimate locations more accurately compared to LANDMARC without extra devices.
Abstract: The project was undertaken to determine the effects of modified tissue culture protocols e.g. age of culture and hormone levels (2,4-D) in generating somaclonal variation. Moreover, the utility of molecular markers (SSR and MSAP) in sorting off types/somaclones were investigated.
Results show that somaclonal variation is in effect due to prolonged subculture and high 2,4-D concentration. The resultant variation was observed to be due to high level of methylation events specifically cytosine methylation either at the internal or external cytosine and was identified by methylation sensitive amplification polymorphism (MSAP).Simple sequence repeats (SSR) on the other hand, was able to associate a marker to a trait of interest.
These therefore, show that molecular markers can be an important tool in sorting out variation/mutants at an early stage.
Abstract: Attempts to add fibre and polyphenols (PPs) into
popular beverages present challenges related to the properties of
finished products such as smoothies. Consumer acceptability,
viscosity and phenolic composition of smoothies containing high
levels of fruit fibre (2.5-7.5 g per 300 mL serve) and PPs (250-750
mg per 300 mL serve) were examined. The changes in total
extractable PP, vitamin C content, and colour of selected smoothies
over a storage stability trial (4°C, 14 days) were compared. A set of
acidic aqueous model beverages were prepared to further examine
the effect of two different heat treatments on the stability and
extractability of PPs. Results show that overall consumer
acceptability of high fibre and PP smoothies was low, with average
hedonic scores ranging from 3.9 to 6.4 (on a 1-9 scale). Flavour,
texture and overall acceptability decreased as fibre and polyphenol
contents increased, with fibre content exerting a stronger effect.
Higher fibre content resulted in greater viscosity, with an elevated PP
content increasing viscosity only slightly. The presence of fibre also
aided the stability and extractability of PPs after heating. A reduction
of extractable PPs, vitamin C content and colour intensity of
smoothies was observed after a 14-day storage period at 4°C. Two
heat treatments (75°C for 45 min or 85°C for 1 min) that are
normally used for beverage production, did not cause significant
reduction of total extracted PPs. It is clear that high levels of added
fibre and PPs greatly influence the consumer appeal of smoothies,
suggesting the need to develop novel formulation and processing
methods if a satisfactory functional beverage is to be developed
incorporating these ingredients.
Abstract: World population growth drives food demand, promotes intensification of agriculture, development of new production technologies and varieties more suitable for regional nature conditions. Climate change can affect the length of growing period, biomass and carbon accumulation in winter wheat. The increasing mean air temperature resulting from climate change can reduce the length of growth period of cereals, and without adequate adjustments in growing technologies or varieties, can reduce biomass and carbon accumulation. Deeper understanding and effective measures for monitoring and management of cereal growth process are needed for adaptation to changing climate and technological conditions.
Abstract: Wikis are considered to be part of Web 2.0
technologies that potentially support collaborative learning and
writing. Wikis provide opportunities for multiple users to work on
the same document simultaneously. Most wikis have also a page for
written group discussion. Nevertheless, wikis may be used in
different ways depending on the pedagogy being used, and the
constraints imposed by the course design. This work explores
students- uses of wiki in teacher education. The analysis is based on a
taxonomy for classifying students- activities and actions carried out
on the wiki. The article also discusses the implications for using
wikis as collaborative writing tools in teacher education.
Abstract: It is suggested to evaluate environmental performance
of energy sector using Data Envelopment Analysis with nondiscretionary
factors (DEA-ND) with relative indicators as inputs and
outputs. The latter allows for comparison of the objects essentially
different in size. Inclusion of non-discretionary factors serves
separation of the indicators that are beyond the control of the objects.
A virtual perfect object comprised of maximal outputs and minimal
inputs was added to the group of actual ones. In this setting, explicit
solution of the DEA-ND problem was obtained. Energy sector of the
United States was analyzed using suggested approach for the period
of 1980 – 2006 with expected values of economic indicators for 2030
used for forming the perfect object. It was obtained that
environmental performance has been increasing steadily for the
period from 7.7% through 50.0% but still remains well below the
prospected level
Abstract: The purpose of this research is to develop a security model for voice eavesdropping protection over digital networks. The proposed model provides an encryption scheme and a personal secret key exchange between communicating parties, a so-called voice data transformation system, resulting in a real-privacy conversation. The operation of this system comprises two main steps as follows: The first one is the personal secret key exchange for using the keys in the data encryption process during conversation. The key owner could freely make his/her choice in key selection, so it is recommended that one should exchange a different key for a different conversational party, and record the key for each case into the memory provided in the client device. The next step is to set and record another personal option of encryption, either taking all frames or just partial frames, so-called the figure of 1:M. Using different personal secret keys and different sets of 1:M to different parties without the intervention of the service operator, would result in posing quite a big problem for any eavesdroppers who attempt to discover the key used during the conversation, especially in a short period of time. Thus, it is quite safe and effective to protect the case of voice eavesdropping. The results of the implementation indicate that the system can perform its function accurately as designed. In this regard, the proposed system is suitable for effective use in voice eavesdropping protection over digital networks, without any requirements to change presently existing network systems, mobile phone network and VoIP, for instance.
Abstract: Identifying and classifying intersections according to
severity is very important for implementation of safety related
counter measures and effective models are needed to compare and
assess the severity. Highway safety organizations have considered
intersection safety among their priorities. In spite of significant
advances in highways safety, the large numbers of crashes with high
severities still occur in the highways. Investigation of influential
factors on crashes enables engineers to carry out calculations in order
to reduce crash severity. Previous studies lacked a model capable of
simultaneous illustration of the influence of human factors, road,
vehicle, weather conditions and traffic features including traffic
volume and flow speed on the crash severity. Thus, this paper is
aimed at developing the models to illustrate the simultaneous
influence of these variables on the crash severity in urban highways.
The models represented in this study have been developed using
binary Logit Models. SPSS software has been used to calibrate the
models. It must be mentioned that backward regression method in
SPSS was used to identify the significant variables in the model.
Consider to obtained results it can be concluded that the main
factor in increasing of crash severity in urban highways are driver
age, movement with reverse gear, technical defect of the vehicle,
vehicle collision with motorcycle and bicycle, bridge, frontal impact
collisions, frontal-lateral collisions and multi-vehicle crashes in
urban highways which always increase the crash severity in urban
highways.
Abstract: This paper presents a new stable robust adaptive controller and observer design for a class of nonlinear systems that contain i. Coupling of unmeasured states and unknown parameters ii. Unknown dead zone at the system actuator. The system is firstly cast into a modified form in which the observer and parameter estimation become feasible. Then a stable robust adaptive controller, state observer, parameter update laws are derived that would provide global adaptive system stability and desirable performance. To validate the approach, simulation was performed to a single-link mechanical system with a dynamic friction model and unknown dead zone exists at the system actuation. Then a comparison is presented with the results when there is no dead zone at the system actuation.
Abstract: The purpose of the current study is to gain insight into the relative role of professional self-image (PSI) for service providers among leader-member exchange (LMX), career success. Lack of studies demonstrated that PSI of service providers affect on their CS. So, it is necessary to, according to service providers- perspective, explore the relationship among LMX and CS in hospitality industry. The result of the current study can suggest strategic directions for hospitality practitioners in terms of constructing LMX relationship, so as to make service providers realize and build their PSI, and to promote their CS. Implications of these findings for hospitality implementations as well as future research directions are subsequently discussed.
Abstract: Educational games (EG) seem to have lots of potential due to digital games popularity and preferences of our younger generations of learners. However, most studies focus on game design and its effectiveness while little has been known about the factors that can affect users to accept or to reject EG for their learning. User acceptance research try to understand the determinants of information systems (IS) adoption among users by investigating both systems factors and users factors. Upon the lack of knowledge on acceptance factors for educational games, we seek to understand the issue. This study proposed a model of acceptance factors based on Unified Theory of Acceptance and Use of Technology (UTAUT). We use original model (performance expectancy, effort expectancy and social influence) together with two new determinants (learning opportunities and enjoyment). We will also investigate the effect of gender and gaming experience that moderate the proposed factors.
Abstract: Soil erosion is the most serious problem faced at
global and local level. So planning of soil conservation measures has
become prominent agenda in the view of water basin managers. To
plan for the soil conservation measures, the information on soil
erosion is essential. Universal Soil Loss Equation (USLE), Revised
Universal Soil Loss Equation 1 (RUSLE1or RUSLE) and Modified
Universal Soil Loss Equation (MUSLE), RUSLE 1.06, RUSLE1.06c,
RUSLE2 are most widely used conventional erosion estimation
methods. The essential drawbacks of USLE, RUSLE1 equations are
that they are based on average annual values of its parameters and so
their applicability to small temporal scale is questionable. Also these
equations do not estimate runoff generated soil erosion. So
applicability of these equations to estimate runoff generated soil
erosion is questionable. Data used in formation of USLE, RUSLE1
equations was plot data so its applicability at greater spatial scale
needs some scale correction factors to be induced. On the other hand
MUSLE is unsuitable for predicting sediment yield of small and large
events. Although the new revised forms of USLE like RUSLE 1.06,
RUSLE1.06c and RUSLE2 were land use independent and they have
almost cleared all the drawbacks in earlier versions like USLE and
RUSLE1, they are based on the regional data of specific area and
their applicability to other areas having different climate, soil, land
use is questionable. These conventional equations are applicable for
sheet and rill erosion and unable to predict gully erosion and spatial
pattern of rills. So the research was focused on development of nonconventional
(other than conventional) methods of soil erosion
estimation. When these non-conventional methods are combined with
GIS and RS, gives spatial distribution of soil erosion. In the present
paper the review of literature on non- conventional methods of soil
erosion estimation supported by GIS and RS is presented.
Abstract: In this paper the authors propose and verify an approach to control heat flow in machine tool components. Thermal deformations are a main aspect that affects the accuracy of machining. Due to goals of energy efficiency, thermal basic loads should be reduced. This leads to inhomogeneous and time variant temperature profiles. To counteract these negative consequences, material with high melting enthalpy is used as a method for thermal stabilization. The increased thermal capacity slows down the transient thermal behavior. To account for the delayed thermal equilibrium, a control mechanism for thermal flow is introduced. By varying a gap in a heat flow path the thermal resistance of an assembly can be controlled. This mechanism is evaluated in two experimental setups. First to validate the ability to control the thermal resistance and second to prove the possibility of a self-sufficient option based on the selfsensing abilities of thermal shape memory alloys.
Abstract: In this paper, a Neural Network based predictive
DTC algorithm is proposed .This approach is used as an
alternative to classical approaches .An appropriate riate Feed -
forward network is chosen and based on its value of
derivative electromagnetic torque ; optimal stator voltage
vector is determined to be applied to the induction motor (by
inverter). Moreover, an appropriate torque and flux observer
is proposed.
Abstract: Analysis for the generalized thermoelastic Lamb
waves, which propagates in anisotropic thin plates in generalized
thermoelasticity, is presented employing normal mode expansion
method. The displacement and temperature fields are expressed by a
summation of the symmetric and antisymmetric thermoelastic modes
in the surface thermal stresses and thermal gradient free orthotropic
plate, therefore the theory is particularly appropriate for waveform
analyses of Lamb waves in thin anisotropic plates. The transient
waveforms excited by the thermoelastic expansion are analyzed for
an orthotropic thin plate. The obtained results show that the theory
provides a quantitative analysis to characterize anisotropic
thermoelastic stiffness properties of plates by wave detection. Finally
numerical calculations have been presented for a NaF crystal, and the
dispersion curves for the lowest modes of the symmetric and
antisymmetric vibrations are represented graphically at different
values of thermal relaxation time. However, the methods can be used
for other materials as well
Abstract: Direct and indirect somatic embryogenesis (SE) from
petiole and leaf explants of Scaevola aemula R. Br. cv. 'Purple
Fanfare' was achieved. High frequency of somatic embryos was
obtained directly from petiole and leaf explants using an inductive
plant growth regulator signal thidiazuron (TDZ). Petiole explants
were more responsive to SE than leaves. Plants derived from somatic
embryos of petiole explants germinated more readily into plants. SE
occurred more efficiently in half-strength Murashige and Skoog
(MS) medium than in full-strength MS medium. Non-embryogenic
callus induced by 2, 4-dichlorophenoxyacetic acid was used to
investigate the feasibility of obtaining SE with TDZ as a secondary
inductive plant growth regulator (PGR) signal. Non-embryogenic
callus of S. aemula was able to convert into an “embryogenic
competent mode" with PGR signal. Protocol developed for induction
of direct and indirect somatic embryogenesis in S. aemula can
improve the large scale propagation system of the plant in future.