Firm Ownership and Performance: Evidence for Croatian Listed Firms

Using data of listed Croatian firms from the Zagreb Stock Exchange we analyze the relationship between firm ownership (ownership concentration and type) and performance (ROA). Empirical research was conducted for the period 2003-2010, yielding with the total of 1,430 observations. Empirical findings based on dynamic panel analysis indicate that ownership concentration variable - CR4 is negatively related with performance, i.e. listed firms with dispersed ownership perform better than firms with concentrated ownership. Also, the research indicated that foreign controlled listed firms perform better than domestically controlled firms. Majority state owned firms perform worse than privately held firms but dummy variable for privately controlled firms was not statistically significant in the estimated panel model.

Task Planning for Service Robots with Limited Feedback

In this paper, we propose a novel limited feedback scheme for task planning with service robots. Instead of sending the full service robot state information for the task planning, the proposed scheme send the best-M indices of service robots with a indicator. With the indicator, the proposed scheme significantly reduces the communication overhead for task planning as well as mitigates the system performance degradation in terms of the utility. In addition, we analyze the system performance of the proposed scheme and compare the proposed scheme with the other schemes.

Adaptive Path Planning for Mobile Robot Obstacle Avoidance

Generally speaking, the mobile robot is capable of sensing its surrounding environment, interpreting the sensed information to obtain the knowledge of its location and the environment, planning a real-time trajectory to reach the object. In this process, the issue of obstacle avoidance is a fundamental topic to be challenged. Thus, an adaptive path-planning control scheme is designed without detailed environmental information, large memory size and heavy computation burden in this study for the obstacle avoidance of a mobile robot. In this scheme, the robot can gradually approach its object according to the motion tracking mode, obstacle avoidance mode, self-rotation mode, and robot state selection. The effectiveness of the proposed adaptive path-planning control scheme is verified by numerical simulations of a differential-driving mobile robot under the possible occurrence of obstacle shapes.

Transformation of Vocal Characteristics: A Review of Literature

The transformation of vocal characteristics aims at modifying voice such that the intelligibility of aphonic voice is increased or the voice characteristics of a speaker (source speaker) to be perceived as if another speaker (target speaker) had uttered it. In this paper, the current state-of-the-art voice characteristics transformation methodology is reviewed. Special emphasis is placed on voice transformation methodology and issues for improving the transformed speech quality in intelligibility and naturalness are discussed. In particular, it is suggested to use the modulation theory of speech as a base for research on high quality voice transformation. This approach allows one to separate linguistic, expressive, organic and perspective information of speech, based on an analysis of how they are fused when speech is produced. Therefore, this theory provides the fundamentals not only for manipulating non-linguistic, extra-/paralinguistic and intra-linguistic variables for voice transformation, but also for paving the way for easily transposing the existing voice transformation methods to emotion-related voice quality transformation and speaking style transformation. From the perspectives of human speech production and perception, the popular voice transformation techniques are described and classified them based on the underlying principles either from the speech production or perception mechanisms or from both. In addition, the advantages and limitations of voice transformation techniques and the experimental manipulation of vocal cues are discussed through examples from past and present research. Finally, a conclusion and road map are pointed out for more natural voice transformation algorithms in the future.

Value of Sharing: Viral Advertisement

Sharing motivations of viral advertisements by consumers and the impacts of these advertisements on the perceptions for brand will be questioned in this study. Three fundamental questions are answered in the study. These are advertisement watching and sharing motivations of individuals, criteria of liking viral advertisement and the impact of individual attitudes for viral advertisement on brand perception respectively. This study will be carried out via a viral advertisement which was practiced in Turkey. The data will be collected by survey method and the sample of the study consists of individuals who experienced the practice of sample advertisement. Data will be collected by online survey method and will be analyzed by using SPSS statistical package program. Recently traditional advertisement mind have been changing. New advertising approaches which have significant impacts on consumers have been argued. Viral advertising is a modernist advertisement mind which offers significant advantages to brands apart from traditional advertising channels such as television, radio and magazines. Viral advertising also known as Electronic Word-of- Mouth (eWOM) consists of free spread of convincing messages sent by brands among interpersonal communication. When compared to the traditional advertising, a more provocative thematic approach is argued. The foundation of this approach is to create advertisements that are worth sharing with others by consumers. When that fact is taken into consideration, in a manner of speaking it can also be stated that viral advertising is media engineering. The content worth sharing makes people being a volunteer spokesman of a brand and strengthens the emotional bonds among brand and consumer. Especially for some sectors in countries which are having traditional advertising channel limitations, viral advertising creates vital advantages.

A Flexible Flowshop Scheduling Problem with Machine Eligibility Constraint and Two Criteria Objective Function

This research deals with a flexible flowshop scheduling problem with arrival and delivery of jobs in groups and processing them individually. Due to the special characteristics of each job, only a subset of machines in each stage is eligible to process that job. The objective function deals with minimization of sum of the completion time of groups on one hand and minimization of sum of the differences between completion time of jobs and delivery time of the group containing that job (waiting period) on the other hand. The problem can be stated as FFc / rj , Mj / irreg which has many applications in production and service industries. A mathematical model is proposed, the problem is proved to be NPcomplete, and an effective heuristic method is presented to schedule the jobs efficiently. This algorithm can then be used within the body of any metaheuristic algorithm for solving the problem.

Sensor Fusion Based Discrete Kalman Filter for Outdoor Robot Navigation

The objective of the presented work is to implement the Kalman Filter into an application that reduces the influence of the environmental changes over the robot expected to navigate over a terrain of varying friction properties. The Discrete Kalman Filter is used to estimate the robot position, project the estimated current state ahead at time through time update and adjust the projected estimated state by an actual measurement at that time via the measurement update using the data coming from the infrared sensors, ultrasonic sensors and the visual sensor respectively. The navigation test has been performed in a real world environment and has been found to be robust.

Exact Solution of Some Helical Flows of Newtonian Fluids

This paper deals with the helical flow of a Newtonian fluid in an infinite circular cylinder, due to both longitudinal and rotational shear stress. The velocity field and the resulting shear stress are determined by means of the Laplace and finite Hankel transforms and satisfy all imposed initial and boundary conditions. For large times, these solutions reduce to the well-known steady-state solutions.

A Novel Single-Wavelength All-Optical Flip-Flop Employing Single SOA-MZI

In this paper, by exploiting a single semiconductor optical amplifier-Mach Zehnder Interferometer (SOA-MZI), an integratable all-optical flip-flop (AOFF) is proposed. It is composed of a SOA-MZI with a bidirectional coupler at the output. Output signals of both bar and crossbar of the SOA-MZI is fed back to SOAs located in the arms of the Mach-Zehnder Interferometer (MZI). The injected photon-rates to the SOAs are modulated by feedback signals in order to form optical flip-flop. According to numerical analysis, Gaussian optical pulses with the energy of 15.2 fJ and 20 ps duration with the full width at half-maximum criterion, can switch the states of the SR-AOFF. Also simulation results show that the SR-AOFF has the contrast ratio of 8.5 dB between two states with the transition time of nearly 20 ps.

State Programs Analysis and Social Crisis Management in the Republic of Kazakhstan: A Descriptive Study

The article is about government programs and projects and their description which are aimed at improving the socioeconomic situation in the Republic of Kazakhstan. A brief historical overview, as well as information about current socio-economic, political and transitional contexts of the country are provided. Two theories were described in the article to inform this descriptive study. According to the United Nation's Development Reports for 2005 and 2011, the country's human development index (HDI) rose by several points despite the socio-economic and political imbalances taking place in the republic since it gained its independence in 1991. It is stated in the article that government support programs are one of the crucial factors that increase the population welfare which in its turn may lead to reduction of social crisis processes in the country.

A Probabilistic Optimization Approach for a Gas Processing Plant under Uncertain Feed Conditions and Product Requirements

This paper proposes a new optimization techniques for the optimization a gas processing plant uncertain feed and product flows. The problem is first formulated using a continuous linear deterministic approach. Subsequently, the single and joint chance constraint models for steady state process with timedependent uncertainties have been developed. The solution approach is based on converting the probabilistic problems into their equivalent deterministic form and solved at different confidence levels Case study for a real plant operation has been used to effectively implement the proposed model. The optimization results indicate that prior decision has to be made for in-operating plant under uncertain feed and product flows by satisfying all the constraints at 95% confidence level for single chance constrained and 85% confidence level for joint chance constrained optimizations cases.

Conflicts and Compromise at the Management of Transboundry Water Resources (The Case of the Central Asia)

The problem of complex use of water resources in Central Asia by taking into consideration the sovereignty of the states and increasing demand on use of water for economic aspects are considered. Complex program with appropriate mathematical software intended for calculation of possible variants of using the Amudarya up-stream water resources according to satisfaction of incompatible requirements of the national economics in irrigation and energy generation is proposed.

Linguistic, Pragmatic and Evolutionary Factors in Wason Selection Task

In two studies we tested the hypothesis that the appropriate linguistic formulation of a deontic rule – i.e. the formulation which clarifies the monadic nature of deontic operators - should produce more correct responses than the conditional formulation in Wason selection task. We tested this assumption by presenting a prescription rule and a prohibition rule in conditional vs. proper deontic formulation. We contrasted this hypothesis with two other hypotheses derived from social contract theory and relevance theory. According to the first theory, a deontic rule expressed in terms of cost-benefit should elicit a cheater detection module, sensible to mental states attributions and thus able to discriminate intentional rule violations from accidental rule violations. We tested this prevision by distinguishing the two types of violations. According to relevance theory, performance in selection task should improve by increasing cognitive effect and decreasing cognitive effort. We tested this prevision by focusing experimental instructions on the rule vs. the action covered by the rule. In study 1, in which 480 undergraduates participated, we tested these predictions through a 2 x 2 x 2 x 2 (type of the rule x rule formulation x type of violation x experimental instructions) between-subjects design. In study 2 – carried out by means of a 2 x 2 (rule formulation x type of violation) between-subjects design - we retested the hypothesis of rule formulation vs. the cheaterdetection hypothesis through a new version of selection task in which intentional vs. accidental rule violations were better discriminated. 240 undergraduates participated in this study. Results corroborate our hypothesis and challenge the contrasting assumptions. However, they show that the conditional formulation of deontic rules produces a lower performance than what is reported in literature.

Laminar Free Convection of Nanofluid Flow in Horizontal Porous Annulus

A numerical study has been carried out to investigate the heat transfer by natural convection of nanofluid taking Cu as nanoparticles and the water as based fluid in a three dimensional annulus enclosure filled with porous media (silica sand) between two horizontal concentric cylinders with 12 annular fins of 2.4mm thickness attached to the inner cylinder under steady state conditions. The governing equations which used are continuity, momentum and energy equations under an assumptions used Darcy law and Boussinesq-s approximation which are transformed to dimensionless equations. The finite difference approach is used to obtain all the computational results using the MATLAB-7. The parameters affected on the system are modified Rayleigh number (10 ≤Ra*≤ 1000), fin length Hf (3, 7 and 11mm), radius ratio Rr (0.293, 0.365 and 0.435) and the volume fraction(0 ≤ ¤ò ≤ 0 .35). It was found that the average Nusselt number depends on (Ra*, Hf, Rr and φ). The results show that, increasing of fin length decreases the heat transfer rate and for low values of Ra*, decreasing Rr cause to decrease Nu while for Ra* greater than 100, decreasing Rr cause to increase Nu and adding Cu nanoparticles with 0.35 volume fraction cause 27.9% enhancement in heat transfer. A correlation for Nu in terms of Ra*, Hf and φ, has been developed for inner hot cylinder.

Seismic Behavior and Capacity/Demand Analyses of a Simply-Supported Multi-Span Precast Bridge

This paper presents the results of an analytical study on the seismic response of a Multi-Span-Simply-Supported precast bridge in Washington State. The bridge was built in the early 1960's along Interstate 5 and was widened the first time in 1979 and the second time in 2001. The primary objective of this research project is to determine the seismic vulnerability of the bridge in order to develop the required retrofit measure. The seismic vulnerability of the bridge is evaluated using two seismic evaluation methods presented in the FHWA Seismic Retrofitting Manual for Highway Bridges, Method C and Method D2. The results of the seismic analyses demonstrate that Method C and Method D2 vary markedly in terms of the information they provide to the bridge designer regarding the vulnerability of the bridge columns.

Assessment of Cadmium Level in Water from Watershed of the Kowsar Dam

The Kowsar dam supply water for different usages such as drinking, industrial, agricultural and aquaculture farms usages and located next to the city of Dehdashat in Kohgiluye and Boyerahmad province in southern Iran. There are some towns and villages on the Kowsar dam watersheds, which Dehdasht and Choram are the most important and populated cities in this area. The study was undertaken to assess the status of water quality in the urban areas of the Kowsar dam. A total of 28 water samples were collected from 6 stations on surface water and 1 station from groundwater on the watershed of the Kowsar dam. All the samples were analyzed for Cd concentration using standard procedures. The results were compared with other national and international standards. Among the analyzed samples, as the maximum value of cadmium (1.131 μg/L) was observed on the station 2 at the winter 2009, all the samples analyzed were within the maximum admissible limits by the United States Environmental Protection Agency, EU, WHO, New Zealand , Australian, Iranian, and the Indian standards. In general results of the present study have shown that Cd mean values of stations No. 4, 1 and 2 with 0.5135, 0.0.4733 and 0.4573 μg/L respectively are higher than the other stations . Although Cd level of all samples and stations have had normal values but this is an indication of pollution potential and hazards because of human activity and waste water of towns in the areas, which can effect on human health implications in future. This research, therefore, recommends the government and other responsible authorities to take suitable improving measures in the Kowsar dam watershed-s.

Thermal Performance Analysis of Nanofluids in Microchannel Heat Sinks

In the present study, the pressure drop and laminar convection heat transfer characteristics of nanofluids in microchannel heat sink with square duct are numerically investigated. The water based nanofluids created with Al2O3 and CuO particles in four different volume fractions of 0%, 0.5%, 1%, 1.5% and 2% are used to analyze their effects on heat transfer and the pressure drop. Under the laminar, steady-state flow conditions, the finite volume method is used to solve the governing equations of heat transfer. Mixture Model is considered to simulate the nanofluid flow. For verification of used numerical method, the results obtained from numerical calculations were compared with the results in literature for both pure water and the nanofluids in different volume fractions. The distributions of the particles in base fluid are assumed to be uniform. The results are evaluated in terms of Nusselt number, the pressure drop and heat transfer enhancement. Analysis shows that the nanofluids enhance heat transfer while the Reynolds number and the volume fractions are increasing. The best overall enhancement was obtained at φ=%2 and Re=100 for CuO-water nanofluid.

The Role of Internal Function of Organization for The Successful Implementation of Good Corporate Governance

The inability to implement the principles of good corporate governance (GCG) as demonstrated in the surveys is due to a number of constraints which can be classified into three; namely internal constraints, external constraints, and constraints coming from the structure of ownership. The issues in the internal constraints mentioned are related to the function of several elements of the company. As a business organization, corporation is unable to achieve its goal to successfully implement GCG principles since it is not support by its internal elements- functions. Two of several numbers of internal elements of a company are ethical work climate and leadership style of the top management. To prove the correlation between internal function of organization (in this case ethical work climate and transformational leadership) and the successful implementation of GCG principles, this study proposes two hypotheses to be empirically tested on thirty surveyed organizations; eleven of which are state-owned companies and nineteen are private companies. These thirty corporations are listed in the Jakarta Stock Exchange. All state-owned companies in the samples are those which have been privatized. The research showed that internal function of organization give support to the successful implementation of GCG principle. In this research we can prove that : (i) ethical work climate has positive significance of correlation with the successful implementation of social awareness principle (one of principles on GCG) and, (ii) only at the state-owned companies, transformational leadership have positive significance effect to forming the ethical work climate.

Experimental and Theoretical Study of Melt Viscosity in Injection Process

The state of melt viscosity in injection process is significantly influenced by the setting parameters due to that the shear rate of injection process is higher than other processes. How to determine plastic melt viscosity during injection process is important to understand the influence of setting parameters on the melt viscosity. An apparatus named as pressure sensor bushing (PSB) module that is used to evaluate the melt viscosity during injection process is developed in this work. The formulations to coupling melt viscosity with fill time and injection pressure are derived and then the melt viscosity is determined. A test mold is prepared to evaluate the accuracy on viscosity calculations between the PSB module and the conventional approaches. The influence of melt viscosity on the tensile strength of molded part is proposed to study the consistency of injection quality.

Microstructure Parameters of a Super-Ionic Sample (Csag2i3)

Sample of CsAg2I3 was prepared by solid state reaction. Then, microstructure parameters of this sample have been determined using wide angle X-ray scattering WAXS method. As well as, Cell parameters of crystal structure have been refined using CHEKCELL program. This analysis states that the lattice intrinsic strainof the sample is so small and the crystal size is on the order of 559Å.