How Herding Bias Could be Derived from Individual Investor Types and Risk Tolerance?

This paper is to clarify the relationship of individual investor types, risk tolerance and herding bias. The questionnaire survey investigation is conducted to collect 389 valid and voluntary individual investors and to examine how the risk tolerance plays as a mediator between four types of personality and herding bias. Based on featuring BB&K model and reviewing the prior literature of psychology, a linear structural model are constructed and further used to evaluate the path of herding formation through the analysis of Structural Equation Modeling (SEM). The results showed that more impetuous investors would be prone to herding bias directly, but rather exhibit higher risk tolerance. However, risk tolerance would fully mediate between the level of confidence (i.e., confident or anxious) and herding bias, but not mediate between the method of action (careful or impetuous) for individual investors.

Culture of Oleaginous Yeasts in Dairy Industry Wastewaters to Obtain Lipids Suitable for the Production of II-Generation Biodiesel

The oleaginous yeasts Lipomyces starkey were grown in the presence of dairy industry wastewaters (DIW). The yeasts were able to degrade the organic components of DIW and to produce a significant fraction of their biomass as triglycerides. When using DIW from the Ricotta cheese production or residual whey as growth medium, the L. starkey could be cultured without dilution nor external organic supplement. On the contrary, the yeasts could only partially degrade the DIW from the Mozzarella cheese production, due to the accumulation of a metabolic product beyond the threshold of toxicity. In this case, a dilution of the DIW was required to obtain a more efficient degradation of the carbon compounds and an higher yield in oleaginous biomass. The fatty acid distribution of the microbial oils obtained showed a prevalence of oleic acid, and is compatible with the production of a II generation biodiesel offering a good resistance to oxidation as well as an excellent cold-performance.

Exploring Structure of Mobile Ecosystem: Inter-Industry Network Analysis Approach

As increasing importance of symbiosis and cooperation among mobile communication industries, the mobile ecosystem has been especially highlighted in academia and practice. The structure of mobile ecosystem is quite complex and the ecological role of actors is important to understand that structure. In this respect, this study aims to explore structure of mobile ecosystem in the case of Korea using inter-industry network analysis. Then, the ecological roles in mobile ecosystem are identified using centrality measures as a result of network analysis: degree of centrality, closeness, and betweenness. The result shows that the manufacturing and service industries are separate. Also, the ecological roles of some actors are identified based on the characteristics of ecological terms: keystone, niche, and dominator. Based on the result of this paper, we expect that the policy makers can formulate the future of mobile industry and healthier mobile ecosystem can be constructed.

Role of Direct and Secondary Traumatic Experience on Later Functioning

Trauma in early life is widely regarded as a cause for adult mental health problems. This study explores the role of secondary trauma on later functioning in a sample of 359 university students enrolled in undergraduate psychology classes in the United States. Participants were initially divided into four groups based on 1) having directly experienced trauma (assaultive violence), 2) having directly experienced trauma and secondary traumatization through the unanticipated death of a close friend or family member or witnessing of an injury or shocking even), 3) having no experience of direct trauma but having experienced indirect trauma (secondary trauma), or 4) reporting no exposure. Participants completed a battery of measures on concepts associated with psychological functioning which included measures of psychological well-being, problem solving, coping and resiliency. Findings discuss differences in psychological functioning and resilience based on participants who experienced secondary traumatization and assaultive violence versus secondary traumatization alone.

Authenticast: A Source Authentication Protocol for Multicast Flows and Streams

The lack of security obstructs a large scale de- ployment of the multicast communication model. There- fore, a host of research works have been achieved in order to deal with several issues relating to securing the multicast, such as confidentiality, authentication, non-repudiation, in- tegrity and access control. Many applications require au- thenticating the source of the received traffic, such as broadcasting stock quotes and videoconferencing and hence source authentication is a required component in the whole multicast security architecture. In this paper, we propose a new and efficient source au- thentication protocol which guarantees non-repudiation for multicast flows, and tolerates packet loss. We have simu- lated our protocol using NS-2, and the simulation results show that the protocol allows to achieve improvements over protocols fitting into the same category.

Distribution and Source of PAHs in Surface Sediments of Canon River Mouth, Taiwan

Surface sediment samples were collected from the Canon River mouth, Taiwan and analyzed for polycyclic aromatic hydrocarbons (PAHs). Total PAHs concentrations varied from 337 to 1,252 ng/g dry weight, with a mean concentration of 827 ng/g dry weight. The spatial distribution of PAHs reveals that the PAHs concentration is relatively high in the river mouth region, and gradually diminishes toward the harbor region. Diagnostic ratios showed that the possible source of PAHs in the Canon River mouth could be petroleum combustion. The toxic equivalent concentrations (TEQcarc) of PAHs varied from 47 to 112 ng TEQ/g dry weight. Higher total TEQcarc values were found in the river mouth region. As compared with the US Sediment Quality Guidelines (SQGs), the observed levels of PAHs at Canon River mouth were lower than the effects range low (ERL), and would probably not exert adverse biological effects.

Analysis and Application of in Indirect MinimumJerk Method for Higher order Differential Equation in Dynamics Optimization Systems

Both the minimum energy consumption and smoothness, which is quantified as a function of jerk, are generally needed in many dynamic systems such as the automobile and the pick-and-place robot manipulator that handles fragile equipments. Nevertheless, many researchers come up with either solely concerning on the minimum energy consumption or minimum jerk trajectory. This research paper considers the indirect minimum Jerk method for higher order differential equation in dynamics optimization proposes a simple yet very interesting indirect jerks approaches in designing the time-dependent system yielding an alternative optimal solution. Extremal solutions for the cost functions of indirect jerks are found using the dynamic optimization methods together with the numerical approximation. This case considers the linear equation of a simple system, for instance, mass, spring and damping. The simple system uses two mass connected together by springs. The boundary initial is defined the fix end time and end point. The higher differential order is solved by Galerkin-s methods weight residual. As the result, the 6th higher differential order shows the faster solving time.

A Computer Aided Detection (CAD) System for Microcalcifications in Mammograms - MammoScan mCaD

Clusters of microcalcifications in mammograms are an important sign of breast cancer. This paper presents a complete Computer Aided Detection (CAD) scheme for automatic detection of clustered microcalcifications in digital mammograms. The proposed system, MammoScan μCaD, consists of three main steps. Firstly all potential microcalcifications are detected using a a method for feature extraction, VarMet, and adaptive thresholding. This will also give a number of false detections. The goal of the second step, Classifier level 1, is to remove everything but microcalcifications. The last step, Classifier level 2, uses learned dictionaries and sparse representations as a texture classification technique to distinguish single, benign microcalcifications from clustered microcalcifications, in addition to remove some remaining false detections. The system is trained and tested on true digital data from Stavanger University Hospital, and the results are evaluated by radiologists. The overall results are promising, with a sensitivity > 90 % and a low false detection rate (approx 1 unwanted pr. image, or 0.3 false pr. image).

Evaluation of Exerting Force on the Heating Surface Due to Bubble Ebullition in Subcooled Flow Boiling

Vibration characteristics of subcooled flow boiling on thin and long structures such as a heating rod were recently investigated by the author. The results show that the intensity of the subcooled boiling-induced vibration (SBIV) was influenced strongly by the conditions of the subcooling temperature, linear power density and flow velocity. Implosive bubble formation and collapse are the main nature of subcooled boiling, and their behaviors are the only sources to originate from SBIV. Therefore, in order to explain the phenomenon of SBIV, it is essential to obtain reliable information about bubble behavior in subcooled boiling conditions. This was investigated at different conditions of coolant subcooling temperatures of 25 to 75°C, coolant flow velocities of 0.16 to 0.53m/s, and linear power densities of 100 to 600 W/cm. High speed photography at 13,500 frames per second was performed at these conditions. The results show that even at the highest subcooling condition, the absolute majority of bubbles collapse very close to the surface after detaching from the heating surface. Based on these observations, a simple model of surface tension and momentum change is introduced to offer a rough quantitative estimate of the force exerted on the heating surface during the bubble ebullition. The formation of a typical bubble in subcooled boiling is predicted to exert an excitation force in the order of 10-4 N.

Effects of Nanolayer Structure and Brownian Motion of Particles in Thermal Conductivity Enhancement of Nanofluids

Nanofluids are novel fluids that are going to have an important role in future industrial thermal device designs. Studies are being predominantly conducted on the mechanism of these heat transfers. The key to this attraction is in the increase in thermal conductivity brought about by the Nanofluids compared with the base fluid. Different models have been proposed for calculation of effective thermal conduction that has been gradually modified. In this investigation effect of nanolayer structure and Brownian motion of particles are studied and a new modified thermal conductivity model is proposed. Temperature, concentration, nanolayer thickness and particle size are taken as variables and their effect are studied simultaneously on the thermal conductivity of the fluids, showing the concentration of the nanoparticles to affect the nanolayer thickness which also affects the Brownian motion.

Asymptotic Stability of Input-saturated System with Linear-growth-bound Disturbances via Variable Structure Control: An LMI Approach

Variable Structure Control (VSC) is one of the most useful tools handling the practical system with uncertainties and disturbances. Up to now, unfortunately, not enough studies on the input-saturated system with linear-growth-bound disturbances via VSC have been presented. Therefore, this paper proposes an asymp¬totic stability condition for the system via VSC. The designed VSC controller consists of two control parts. The linear control part plays a role in stabilizing the system, and simultaneously, the nonlinear control part in rejecting the linear-growth-bound disturbances perfectly. All conditions derived in this paper are expressed with Linear Matrices Inequalities (LMIs), which can be easily solved with an LMI toolbox in MATLAB.

Web Traffic Mining using Neural Networks

With the explosive growth of data available on the Internet, personalization of this information space become a necessity. At present time with the rapid increasing popularity of the WWW, Websites are playing a crucial role to convey knowledge and information to the end users. Discovering hidden and meaningful information about Web users usage patterns is critical to determine effective marketing strategies to optimize the Web server usage for accommodating future growth. The task of mining useful information becomes more challenging when the Web traffic volume is enormous and keeps on growing. In this paper, we propose a intelligent model to discover and analyze useful knowledge from the available Web log data.

Air flow and Heat Transfer Modeling of an Axial Flux Permanent Magnet Generator

Axial Flux Permanent Magnet (AFPM) Machines require effective cooling due to their high power density. The detrimental effects of overheating such as degradation of the insulation materials, magnets demagnetization, and increase of Joule losses are well known. This paper describes the CFD simulations performed on a test rig model of an air cooled Axial Flux Permanent Magnet (AFPM) generator built at Durham University to identify the temperatures and heat transfer coefficient on the stator. The Reynolds Averaged Navier-Stokes and the Energy equations are solved and the flow pattern and heat transfer developing inside the machine are described. The Nusselt number on the stator surfaces has been found. The dependency of the heat transfer on the flow field is described temperature field obtained. Tests on an experimental are undergoing in order to validate the CFD results.

Global and Local Structure of Supported Pd Catalysts

The supported Pd catalysts were analyzed by X-ray diffraction and X-ray absorption spectroscopy in order to determine their global and local structure. The average particle size of the supported Pd catalysts was determined by X-ray diffraction method. One of the main purposes of the present contribution is to focus on understanding the specific role of the Pd particle size determined by X-ray diffraction and that of the support oxide. Based on X-ray absorption fine structure spectroscopy analysis we consider that the whole local structure of the investigated samples are distorted concerning the atomic number but the distances between atoms are almost the same as for standard Pd sample. Due to the strong modifications of the Pd cluster local structure, the metal-support interface may influence the electronic properties of metal clusters and thus their reactivity for absorption of the reactant molecules.

Effect of Shallow Groundwater Table on the Moisture Depletion Pattern in Crop Root Zone

Different techniques for estimating seasonal water use from soil profile water depletion frequently do not account for flux below the root zone. Shallow water table contribution to supply crop water use may be important in arid and semi-arid regions. Development of predictive root uptake models, under influence of shallow water table makes it possible for planners to incorporate interaction between water table and root zone into design of irrigation projects. A model for obtaining soil moisture depletion from root zone and water movement below it is discussed with the objective to determine impact of shallow water table on seasonal moisture depletion patterns under water table depth variation, up to the bottom of root zone. The role of different boundary conditions has also been considered. Three crops: Wheat (Triticum aestivum), Corn (Zea mays) and Potato (Solanum tuberosum), common in arid & semi-arid regions, are chosen for the study. Using experimentally obtained soil moisture depletion values for potential soil moisture conditions, moisture depletion patterns using a non linear root uptake model have been obtained for different water table depths. Comparative analysis of the moisture depletion patterns under these conditions show a wide difference in percent depletion from different layers of root zone particularly top and bottom layers with middle layers showing insignificant variation in moisture depletion values. Moisture depletion in top layer, when the water table rises to root zone increases by 19.7%, 22.9% & 28.2%, whereas decrease in bottom layer is 68.8%, 61.6% & 64.9% in case of wheat, corn & potato respectively. The paper also discusses the causes and consequences of increase in moisture depletion from top layers and exceptionally high reduction in bottom layer, and the possible remedies for the same. The numerical model developed for the study can be used to help formulating irrigation strategies for areas where shallow groundwater of questionable quality is an option for crop production.

A Cost Function for Joint Blind Equalization and Phase Recovery

In this paper a new cost function for blind equalization is proposed. The proposed cost function, referred to as the modified maximum normalized cumulant criterion (MMNC), is an extension of the previously proposed maximum normalized cumulant criterion (MNC). While the MNC requires a separate phase recovery system after blind equalization, the MMNC performs joint blind equalization and phase recovery. To achieve this, the proposed algorithm maximizes a cost function that considers both amplitude and phase of the equalizer output. The simulation results show that the proposed algorithm has an improved channel equalization effect than the MNC algorithm and simultaneously can correct the phase error that the MNC algorithm is unable to do. The simulation results also show that the MMNC algorithm has lower complexity than the MNC algorithm. Moreover, the MMNC algorithm outperforms the MNC algorithm particularly when the symbols block size is small.

Prevalence and Antimicrobial Susceptibility Patterns of Enteric Bacteria Isolated from Water and Fish in Lake Victoria Basin of Western Kenya

A cross sectional study design and standard microbiological procedures were used to determine the prevalence and antimicrobial susceptibility patterns of Escherichia coli, Salmonella enterica serovar typhimurium and Vibrio cholerae O1 isolated from water and two fish species Rastrineobola argentea and Oreochromis niloticus collected from fish landing beaches and markets in the Lake Victoria Basin of western Kenya. Out of 162 samples analyzed, 133 (82.1%) were contaminated, with S. typhimurium as the most prevalent (49.6%), followed by E. coli (46.6%), and lastly V. cholerae (2.8%). All the bacteria isolates were sensitive to ciprofloxacin. E. coli isolates were resistant to ampicillin, tetracycline, cotrimoxazole, chloramphenical and gentamicin while S. typhimurium isolates exhibited resistance to ampicillin, tetracycline, and cotrimoxazole. The V. cholerae O1 isolates were resistant to tetracycline and ampicillin. The high prevalence of drug resistant enteric bacteria in water and fish from the study region needs public health intervention from the local government.

Molecular Dynamic Simulation and Receptor-based Pharmacophore Modeling on Human Renin for Discovery of Novel Inhibitors

Hypertension is characterized with stress on the heart and blood vessels thus increasing the risk of heart attack and renal diseases. The Renin angiotensin system (RAS) plays a major role in blood pressure control. Renin is the enzyme that controls the RAS at the rate-limiting step. Our aim is to develop new drug-like leads which can inhibit renin and thereby emerge as therapeutics for hypertension. To achieve this, molecular dynamics (MD) simulation and receptor-based pharmacophore modeling were implemented, and three rennin-inhibitor complex structures were selected based on IC50 value and scaffolds of inhibitors. Three pharmacophore models were generated considering conformations induced by inhibitor. The compounds mapped to these models were selected and subjected to drug-like screening. The identified hits were docked into the active site of renin. Finally, hit1 satisfying the binding mode and interaction energy was selected as possible lead candidate to be used in novel renin inhibitors.

Role of Customers in Stakeholders- Approach in Company Corporate Governance

The purpose of this paper is to explore the relationship between the customers- issues in company corporate governance and the financial performance. At the beginning theoretical background consisting stakeholder theory and corporate governance is presented. On this theoretical background, the empirical research is built, collecting data of 60 Czech joint stock companies- boards considering their relationships with customers. Correlation analysis and multivariate regression analysis were employed to test the sample on two hypotheses. The weak positive correlation between stakeholder approach and the company size was identified. But both hypotheses were not supported, because there was no significant relation of independent variables to financial performance.

Corporate Information System Educational Center

The given work is devoted to the description of Information Technologies NAS of Azerbaijan created and successfully maintained in Institute. On the basis of the decision of board of the Supreme Certifying commission at the President of the Azerbaijan Republic and Presidium of National Academy of Sciences of the Azerbaijan Republic, the organization of training courses on Computer Sciences for all post-graduate students and dissertators of the republic, taking of examinations of candidate minima, it was on-line entrusted to Institute of Information Technologies of the National Academy of Sciences of Azerbaijan. Therefore, teaching the computer sciences to post-graduate students and dissertators a scientific - methodological manual on effective application of new information technologies for research works by post-graduate students and dissertators and taking of candidate minima is carried out in the Educational Center. Information and communication technologies offer new opportunities and prospects of their application for teaching and training. The new level of literacy demands creation of essentially new technology of obtaining of scientific knowledge. Methods of training and development, social and professional requirements, globalization of the communicative economic and political projects connected with construction of a new society, depends on a level of application of information and communication technologies in the educational process. Computer technologies develop ideas of programmed training, open completely new, not investigated technological ways of training connected to unique opportunities of modern computers and telecommunications. Computer technologies of training are processes of preparation and transfer of the information to the trainee by means of computer. Scientific and technical progress as well as global spread of the technologies created in the most developed countries of the world is the main proof of the leading role of education in XXI century. Information society needs individuals having modern knowledge. In practice, all technologies, using special technical information means (computer, audio, video) are called information technologies of education.