Abstract: Constructing a portfolio of investments is one of the
most significant financial decisions facing individuals and
institutions. In accordance with the modern portfolio theory
maximization of return at minimal risk should be the investment goal
of any successful investor. In addition, the costs incurred when
setting up a new portfolio or rebalancing an existing portfolio must
be included in any realistic analysis.
In this paper rebalancing an investment portfolio in the presence of
transaction costs on the Croatian capital market is analyzed. The
model applied in the paper is an extension of the standard portfolio
mean-variance optimization model in which transaction costs are
incurred to rebalance an investment portfolio. This model allows
different costs for different securities, and different costs for buying
and selling. In order to find efficient portfolio, using this model, first,
the solution of quadratic programming problem of similar size to the
Markowitz model, and then the solution of a linear programming
problem have to be found. Furthermore, in the paper the impact of
transaction costs on the efficient frontier is investigated. Moreover, it
is shown that global minimum variance portfolio on the efficient
frontier always has the same level of the risk regardless of the amount
of transaction costs. Although efficient frontier position depends of
both transaction costs amount and initial portfolio it can be concluded
that extreme right portfolio on the efficient frontier always contains
only one stock with the highest expected return and the highest risk.
Abstract: Unmanned Aircraft Systems (UAS) become
indispensable parts of modern airpower as force multiplier. One of
the main advantages of UAS is long endurance. UAS have to take
extra payloads to accomplish different missions but these payloads
decrease endurance of aircraft because of increasing drag. There are
continuing researches to increase the capability of UAS. There are
some vertical thermal air currents, which can cause climb and
increase endurance, in nature. Birds and gliders use thermals to gain
altitude with no effort. UAS have wide wings which can use
thermals like birds and gliders. Thermal regions, which is area of
2000-3000 meter (1 NM), exist all around the world. It is natural and
infinite source. This study analyses if thermal regions can be adopted
and implemented as an assistant tool for UAS route planning. First
and second part of study will contain information about the thermal
regions and current applications about UAS in aviation and climbing
performance with a real example. Continuing parts will analyze the
contribution of thermal regions to UAS endurance. Contribution is
important because planning declaration of UAS navigation rules will
be in 2015.
Abstract: The development of Drugs Delivery System (DDS)
has been widely investigated in the last decades. In this paper, first a
general overview of traditional and modern wound dressing is
presented. This is followed by a review of what scientists have done
in the medical environment, focusing on the possibility to develop a
new alternative for DDS through transdermal pathway, aiming to
treat melanoma skin cancer.
Abstract: Modern low earth orbit (LEO) satellites that require multi-mission flexibility are highly likely to be repositioned between different operational orbits. While executing this process the satellite may experience high levels of vibration and environmental hazards, exposing the deployed solar panel to dangerous stress levels, fatigue and space debris, hence it is desirable to retract the solar array before satellite repositioning to avoid damage or failure.
A novel concept of deployable/retractable hybrid solar array systemcomposed of both rigid and flexible solar panels arranged within a petal formation, aimed to provide a greater power to volume ratio while dramatically reducing mass and cost is proposed.
Abstract: The 6th version of Universal modeling method for
centrifugal compressor stage calculation is described. Identification
of the new mathematical model was made. As a result of
identification the uniform set of empirical coefficients is received.
The efficiency definition error is 0,86 % at a design point. The
efficiency definition error at five flow rate points (except a point of
the maximum flow rate) is 1,22 %. Several variants of the stage with
3D impellers designed by 6th version program and quasi threedimensional
calculation programs were compared by their gas
dynamic performances CFD (NUMECA FINE TURBO).
Performance comparison demonstrated general principles of design
validity and leads to some design recommendations.
Abstract: Numeracy, like Literacy is considered to be a core
value of modern societies. Most higher education institutions in
South Africa include being numerate as an important graduate
attribute. It is argued that a suitability numerate society contributes to
social justice, empowerment, financial and environmental
sustainability and a lack of numeracy practices can contribute to
disempowerment.
Numeracy is commonly misconstrued as a basic and simple
practice, similar in nature to basic arithmetic. This study highlights
the complexities of higher education numeracy practices by analyzing
a programme in a higher education institution in South Africa using
the New Literacies Studies perspective.
Abstract: It has experimentally been proved that the
performance of compression ignition (C.I.) engine is spray
characteristics related. In modern diesel engine the spray formation
and the eventual combustion process are the vital processes that offer
more challenges towards enhancing the engine performance. In the
present work the numerical simulation has been carried out for
evaporating diesel sprays using Fluent software. For computational
fluid dynamics simulation “Meshing” is done using Gambit software
before transmitting it into Fluent. The simulation is carried out using
hot bomb conditions under varying chamber conditions such as gas
pressure, nozzle diameter and fuel injection pressure. For comparison
purpose, the numerical simulations the chamber conditions were kept
the same as that of the experimental data. At varying chamber
conditions the spray penetration rates are compared with the existing
experimental results.
Abstract: The problem of psychologist training remains a key
priority in Armenia. During the Soviet period, the notion of a
psychologist was obscure not only in Armenia but also in other
Soviet republics. The breakup of the Soviet Union triggered a gradual
change in this area activating the cooperation with specialists from
other countries. The need for recovery from the psychological trauma
caused by the 1988 earthquake pushed forward the development of
practical psychology in Armenia. This phenomenon led to positive
changes in perception of and interest to a psychologist
profession.Armenian universities started designing special programs
for psychologists’ preparation. Armenian psychologists combined
their efforts in the field of training relevant specialists.
During the recent years, the Bologna educational system was
introduced in Armenia which led to implementation of education
quality improvement programs. Nevertheless, even today the issue of
psychologists’ training is not yet settled in Armenian universities. So
far graduate psychologists haven’t got a clear idea of personal and
professional qualities of a psychologist. Recently, as a result of
educational reforms, the psychology curricula underwent changes,
but so far they have not led to a desired outcome. Almost all curricula
in certain specialties are aimed to form professional competencies
and strengthen practical skills.
A survey conducted in Armenia aimed to identify what are the
ideas of young psychology specialists on the image of a psychologist.
The survey respondents were 45 specialists holding bachelor’s degree
as well as 30 master degree graduates, who have not been working
yet. The research reveals that we need to change the approach of
preparing psychology practitioners in the universities of Armenia.
Such an approach to psychologist training will make it possible to
train qualified specialists for enhancement of modern psychology
theory and practice.
Abstract: The transition period of Kosovo society brought
fundamental changes in all the spheres of organizing life. This was
the period when also in the cultural tradition the biggest movement
and an emerging from ‘isolation’ or from the ‘shell’ occurred.
Transformation of the traditional and embracing of the modern began
here. The same was experienced and is currently being experienced
also by Gjakova and its surrounding which is historically renowned
for its great tradition and culture.
The population of this region is actually facing a transition from
the traditional system into the modern one and quite often with huge
leaps.
These ‘movements’ or ‘evolutions’ of the society of this region,
besides the numerous positive things it ‘harvested’, also brought
things that do not at all correspond with their tradition as well as new
criminal occurrences which in the past were not present in this area.
Furthermore, some of the ‘new’ behaviors that are embraced from
other ‘cultures’ and ‘civilizations’, and which are often exceeded, are
quite perturbing. The security situation is also worrying, particularly
following the appearance of some new criminal occurrences.
Therefore, with this research paper we will strive to analyze the
new cultural “intersections” as well as the nature of the origin of
some new very worrying criminal occurrences. We will present there
also some factors inciting into these occurrences, which were
confessed by the persons involved in these criminal occurrences and
who come from this very region.
Abstract: In-memory database systems are becoming popular
due to the availability and affordability of sufficiently large RAM and
processors in modern high-end servers with the capacity to manage
large in-memory database transactions. While fast and reliable inmemory
systems are still being developed to overcome cache misses,
CPU/IO bottlenecks and distributed transaction costs, disk-based data
stores still serve as the primary persistence. In addition, with the
recent growth in multi-tenancy cloud applications and associated
security concerns, many organisations consider the trade-offs and
continue to require fast and reliable transaction processing of diskbased
database systems as an available choice. For these
organizations, the only way of increasing throughput is by improving
the performance of disk-based concurrency control. This warrants a
hybrid database system with the ability to selectively apply an
enhanced disk-based data management within the context of inmemory
systems that would help improve overall throughput.
The general view is that in-memory systems substantially
outperform disk-based systems. We question this assumption and
examine how a modified variation of access invariance that we call
enhanced memory access, (EMA) can be used to allow very high
levels of concurrency in the pre-fetching of data in disk-based
systems. We demonstrate how this prefetching in disk-based systems
can yield close to in-memory performance, which paves the way for
improved hybrid database systems. This paper proposes a novel EMA
technique and presents a comparative study between disk-based EMA
systems and in-memory systems running on hardware configurations
of equivalent power in terms of the number of processors and their
speeds. The results of the experiments conducted clearly substantiate
that when used in conjunction with all concurrency control
mechanisms, EMA can increase the throughput of disk-based systems
to levels quite close to those achieved by in-memory system. The
promising results of this work show that enhanced disk-based
systems facilitate in improving hybrid data management within the
broader context of in-memory systems.
Abstract: The purpose of this study is to examine the possible
link between employee and customer satisfaction. The service
provided by employees, help to build a good relationship with
customers and can help at increasing their loyalty. Published data for
job satisfaction and indicators of customer services of banks were
gathered from relevant published works which included data from
five different countries. The scores of customers and employees
satisfaction of the different published works were transformed and
normalized to the scale of 1 to 100. The data were analyzed and a
regression analysis of the two parameters was used to describe the
link between employee’s satisfaction and customer’s satisfaction.
Assuming that employee satisfaction has a significant influence on
customer’s service and the resulting customer satisfaction, the
reviewed data indicate that employee’s satisfaction contributes
significantly on the level of customer satisfaction in the Banking
sector. There was a significant correlation between the two
parameters (Pearson correlation R2=0.52 P
Abstract: Science and technology has a major impact on many
societal domains such as communication, medicine, food,
transportation, etc. However, this dominance of modern technology
can have a negative unintended impact on indigenous systems, and in
particular on indigenous foods. This problem serves as a motivation
to this study whose aim is to examine the perceptions of learners on
the usefulness of Information and Communication Technologies
(ICTs) for learning about indigenous foods. This aim will be
subdivided into two types of research objectives. The design and
identification of theories and models will be achieved using literature
content analysis. The objective on the empirical testing of such
theories and models will be achieved through the survey of
Hospitality studies learners from different schools in the iLembe and
Umgungundlovu Districts of the South African Kwazulu-Natal
province. SPSS is used to quantitatively analyze the data collected by
the questionnaire of this survey using descriptive statistics and
Pearson correlations after the assessment of the validity and the
reliability of the data. The main hypothesis behind this study is that
there is a connection between the demographics of learners, their
perceptions on the usefulness of ICTs for learning about indigenous
foods, and the following personality and eLearning related theories
constructs: Computer self-efficacy, Trust in ICT systems, and
Conscientiousness; as suggested by existing studies on learning
theories. This hypothesis was fully confirmed by the survey
conducted by this study except for the demographic factors where
gender and age were not found to be determinant factors of learners’
perceptions on the usefulness of ICTs for learning about indigenous
foods.
Abstract: Nowadays, Photovoltaic-PV Farms/ Parks and large
PV-Smart Grid Interface Schemes are emerging and commonly
utilized in Renewable Energy distributed generation. However, PVhybrid-
Dc-Ac Schemes using interface power electronic converters
usually has negative impact on power quality and stabilization of
modern electrical network under load excursions and network fault
conditions in smart grid. Consequently, robust FACTS based
interface schemes are required to ensure efficient energy utilization
and stabilization of bus voltages as well as limiting switching/fault
onrush current condition. FACTS devices are also used in smart grid-
Battery Interface and Storage Schemes with PV-Battery Storage
hybrid systems as an elegant alternative to renewable energy
utilization with backup battery storage for electric utility energy and
demand side management to provide needed energy and power
capacity under heavy load conditions. The paper presents a robust
interface PV-Li-Ion Battery Storage Interface Scheme for
Distribution/Utilization Low Voltage Interface using FACTS
stabilization enhancement and dynamic maximum PV power tracking
controllers.
Digital simulation and validation of the proposed scheme is done
using MATLAB/Simulink software environment for Low Voltage-
Distribution/Utilization system feeding a hybrid Linear-Motorized
inrush and nonlinear type loads from a DC-AC Interface VSC-6-
pulse Inverter Fed from the PV Park/Farm with a back-up Li-Ion
Storage Battery.
Abstract: Bamboo is extensively used in construction industry.
Low durability of bamboo due to fungus infestation and termites
attack under storage puts certain constrains for it usage as modern
structural material. Looking at many chemical formulations for
bamboo treatment leading to severe harmful environment effects,
research on eco-friendly preservatives for bamboo treatment has been
initiated world-over. In the present studies, eco-friendly preservative
for bamboo treatment has been developed. To validate its application
for structural purposes, investigation of effect of treatment on
compressive strength has been investigated. Neemoil (25%)
integrated with copper naphthenate (0.3%) on dilution with kerosene
oil impregnated into bamboo culm at 2 bar pressure, has shown
weight loss of only 3.15% in soil block analysis method. The results
from compressive strength analysis using HEICO Automatic
Compression Testing Machine reveal that preservative treatment has
not altered the structural properties of bamboo culms. Compressive
strength of control (11.72 N/mm2) and above treated samples (11.71
N/mm2) was found to be comparable.
Abstract: Among modern airflow measurement methods,
Particle Image Velocimetry (PIV) and Particle Tracking Velocimetry
(PTV), as visualized and non-instructive measurement techniques, are
playing more important role. This paper conducts a comparative
experimental study for airflow measurement employing both
techniques with the same condition. Velocity vector fields, velocity
contour fields, voticity profiles and turbulence profiles are selected as
the comparison indexes. The results show that the performance of both
PIV and PTV techniques for airflow measurement is satisfied, but
some differences between the both techniques are existed, it suggests
that selecting the measurement technique should be based on a
comprehensive consideration.
Abstract: Today’s modern interconnected power system is
highly complex in nature. In this, one of the most important
requirements during the operation of the electric power system is the
reliability and security. Power and frequency oscillation damping
mechanism improve the reliability. Because of power system
stabilizer (PSS) low speed response against of major fault such as
three phase short circuit, FACTs devise that can control the network
condition in very fast time, are becoming popular. But FACTs
capability can be seen in a major fault present when nonlinear models
of FACTs devise and power system equipment are applied. To realize
this aim, the model of multi-machine power system with FACTs
controller is developed in MATLAB/SIMULINK using Sim Power
System (SPS) blockiest. Among the FACTs device, Static
synchronous series compensator (SSSC) due to high speed changes
its reactance characteristic inductive to capacitive, is effective power
flow controller. Tuning process of controller parameter can be
performed using different method. But Genetic Algorithm (GA)
ability tends to use it in controller parameter tuning process. In this
paper firstly POD controller is used to power oscillation damping.
But in this station, frequency oscillation dos not has proper damping
situation. So FOD controller that is tuned using GA is using that
cause to damp out frequency oscillation properly and power
oscillation damping has suitable situation.
Abstract: Ontologies provide a common understanding of a
specific domain of interest that can be communicated between people
and used as background knowledge for automated reasoning in a
wide range of applications. In this paper, we address the design of
multilingual ontologies following well-defined knowledge
engineering methodologies with the support of novel collaborative
development approaches. In particular, we present a collaborative
platform which allows ontologies to be developed incrementally in
multiple languages. This is made possible via an appropriate mapping
between language independent concepts and one lexicalization per
language (or a lexical gap in case such lexicalization does not exist).
The collaborative platform has been designed to support the
development of the Universal Knowledge Core, a multilingual
ontology currently in English, Italian, Chinese, Mongolian, Hindi and
Bangladeshi. Its design follows a workflow-based development
methodology that models resources as a set of collaborative objects
and assigns customizable workflows to build and maintain each
collaborative object in a community driven manner, with extensive
support of modern web 2.0 social and collaborative features.
Abstract: The fuzzy composition of objects depicted in images
acquired through MR imaging or the use of bio-scanners has often
been a point of controversy for field experts attempting to effectively
delineate between the visualized objects. Modern approaches in
medical image segmentation tend to consider fuzziness as a
characteristic and inherent feature of the depicted object, instead of
an undesirable trait. In this paper, a novel technique for efficient
image retrieval in the context of images in which segmented objects
are either crisp or fuzzily bounded is presented. Moreover, the
proposed method is applied in the case of multiple, even conflicting,
segmentations from field experts. Experimental results demonstrate
the efficiency of the suggested method in retrieving similar objects
from the aforementioned categories while taking into account the
fuzzy nature of the depicted data.
Abstract: In today’s highly competitive, dynamic and
technology driven business circumstances, marketers are under
steady pressure to deliver the best. Organizations are continuously
improving and upgrading themselves to meet customer expectations
and demands. Technology has not only changed the way in which
business is done in modern times but has also transformed the way to
reach out to target audience. Marketers have identified most recent
media options to communicate and convince potential customers.
Numerous scholars have studied the research domain of advertising
and have tried to recognize different measures of advertisement
effectiveness in context of various media. The objective of this paper
is to critically review accessible literature on advertisement
effectiveness in context of varied advertising media, recognize major
gaps in the literature and identify future research prospects on the
basis of critical analysis of literature.
Abstract: In regards to the energy sector in the modern period,
two points were raised. First is a vast and growing energy demand, and
second is an environmental impact associated with it. The enormous
consumption of fossil fuel to the mobile unit is leading to its rapid
depletion. Nuclear power is not the only problem. A modal shift that
utilizes personal transporters and independent power, in order to
realize a sustainable society, is very effective. The author proposes that
the world will continue to work on this. Energy of the future society,
innovation in battery technology and the use of natural energy is a big
key. And it is also necessary in order to save on energy consumption.