Board Members' Financial Education and Firms' Performance: Empirical Evidence for Bucharest Stock Exchange Companies

After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.

Effect of Uneven Surface on Magnetic Properties of Fe-Based Amorphous Transformer

This study reports the preparation of soft magnetic ribbons of Fe-based amorphous alloys using the single-roller melt-spinning technique. Ribbon width varied from 142 mm to 213 mm and, with a thickness of approximately 22 μm 2 μm. The microstructure and magnetic properties of the ribbons were characterized by differential scanning calorimeter (DSC), X-ray diffraction (XRD), vibrating sample magnetometer (VSM), and electrical resistivity measurements (ERM). The amorphous material properties dependence of the cooling rate and nozzle pressure have uneven surface in ribbon thicknesses are investigated. Magnetic measurement results indicate that some region of the ribbon exhibits good magnetic properties, higher saturation induction and lower coercivity. However, due to the uneven surface of 213 mm wide ribbon, the magnetic responses are not uniformly distributed. To understand the transformer magnetic performances, this study analyzes the measurements of a three-phase 2 MVA amorphous-cored transformer. Experimental results confirm that the transformer with a ribbon width of 142 mm has better magnetic properties in terms of lower core loss, exciting power, and audible noise. 

Segmentation of Lungs from CT Scan Images for Early Diagnosis of Lung Cancer

Segmentation is an important step in medical image analysis and classification for radiological evaluation or computer aided diagnosis. The CAD (Computer Aided Diagnosis ) of lung CT generally first segment the area of interest (lung) and then analyze the separately obtained area for nodule detection in order to diagnosis the disease. For normal lung, segmentation can be performed by making use of excellent contrast between air and surrounding tissues. However this approach fails when lung is affected by high density pathology. Dense pathologies are present in approximately a fifth of clinical scans, and for computer analysis such as detection and quantification of abnormal areas it is vital that the entire and perfectly lung part of the image is provided and no part, as present in the original image be eradicated. In this paper we have proposed a lung segmentation technique which accurately segment the lung parenchyma from lung CT Scan images. The algorithm was tested against the 25 datasets of different patients received from Ackron Univeristy, USA and AGA Khan Medical University, Karachi, Pakistan.

Preparation of Computer Model of the Aircraft for Numerical Aeroelasticity Tests – Flutter

Article presents the geometry and structure reconstruction procedure of the aircraft model for flatter research (based on the I22-IRYDA aircraft). For reconstruction the Reverse Engineering techniques and advanced surface modeling CAD tools are used. Authors discuss all stages of data acquisition process, computation and analysis of measured data. For acquisition the three dimensional structured light scanner was used. In the further sections, details of reconstruction process are present. Geometry reconstruction procedure transform measured input data (points cloud) into the three dimensional parametric computer model (NURBS solid model) which is compatible with CAD systems. Parallel to the geometry of the aircraft, the internal structure (structural model) are extracted and modeled. In last chapter the evaluation of obtained models are discussed.

Unsupervised Segmentation by Hidden Markov Chain with Bi-dimensional Observed Process

In unsupervised segmentation context, we propose a bi-dimensional hidden Markov chain model (X,Y) that we adapt to the image segmentation problem. The bi-dimensional observed process Y = (Y 1, Y 2) is such that Y 1 represents the noisy image and Y 2 represents a noisy supplementary information on the image, for example a noisy proportion of pixels of the same type in a neighborhood of the current pixel. The proposed model can be seen as a competitive alternative to the Hilbert-Peano scan. We propose a bayesian algorithm to estimate parameters of the considered model. The performance of this algorithm is globally favorable, compared to the bi-dimensional EM algorithm through numerical and visual data.

Synthesis and Electrochemical Characterization of Iron Oxide / Activated Carbon Composite Electrode for Symmetrical Supercapacitor

In the present work, we have developed a symmetric electrochemical capacitor based on the nanostructured iron oxide (Fe3O4)-activated carbon (AC) nanocomposite materials. The physical properties of the nanocomposites were characterized by Scanning Electron Microscopy (SEM) and Brunauer-Emmett-Teller (BET) analysis. The electrochemical performances of the composite electrode in 1.0 M Na2SO3 and 1.0 M Na2SO4 aqueous solutions were evaluated using cyclic voltammetry (CV) and electrochemical impedance spectroscopy (EIS). The composite electrode with 4 wt% of iron oxide nanomaterials exhibits the highest capacitance of 86 F/g. The experimental results clearly indicate that the incorporation of iron oxide nanomaterials at low concentration to the composite can improve the capacitive performance, mainly attributed to the contribution of the pseudocapacitance charge storage mechanism and the enhancement on the effective surface area of the electrode. Nevertheless, there is an optimum threshold on the amount of iron oxide that needs to be incorporated into the composite system. When this optimum threshold is exceeded, the capacitive performance of the electrode starts to deteriorate, as a result of the undesired particle aggregation, which is clearly indicated in the SEM analysis. The electrochemical performance of the composite electrode is found to be superior when Na2SO3 is used as the electrolyte, if compared to the Na2SO4 solution. It is believed that Fe3O4 nanoparticles can provide favourable surface adsorption sites for sulphite (SO3 2-) anions which act as catalysts for subsequent redox and intercalation reactions.

Analytical Studies on Volume Determination of Leg Ulcer using Structured Light and Laser Triangulation Data Acquisition Techniques

Imaging is defined as the process of obtaining geometric images either two dimensional or three dimensional by scanning or digitizing the existing objects or products. In this research, it applied to retrieve 3D information of the human skin surface in medical application. This research focuses on analyzing and determining volume of leg ulcers using imaging devices. Volume determination is one of the important criteria in clinical assessment of leg ulcer. The volume and size of the leg ulcer wound will give the indication on responding to treatment whether healing or worsening. Different imaging techniques are expected to give different result (and accuracies) in generating data and images. Midpoint projection algorithm was used to reconstruct the cavity to solid model and compute the volume. Misinterpretation of the results can affect the treatment efficacy. The objectives of this paper is to compare the accuracy between two 3D data acquisition method, which is laser triangulation and structured light methods, It was shown that using models with known volume, that structured-light-based 3D technique produces better accuracy compared with laser triangulation data acquisition method for leg ulcer volume determination.

Urdu Nastaleeq Optical Character Recognition

This paper discusses the Urdu script characteristics, Urdu Nastaleeq and a simple but a novel and robust technique to recognize the printed Urdu script without a lexicon. Urdu being a family of Arabic script is cursive and complex script in its nature, the main complexity of Urdu compound/connected text is not its connections but the forms/shapes the characters change when it is placed at initial, middle or at the end of a word. The characters recognition technique presented here is using the inherited complexity of Urdu script to solve the problem. A word is scanned and analyzed for the level of its complexity, the point where the level of complexity changes is marked for a character, segmented and feeded to Neural Networks. A prototype of the system has been tested on Urdu text and currently achieves 93.4% accuracy on the average.

A Study of Dose Distribution and Image Quality under an Automatic Tube Current Modulation (ATCM) System for a Toshiba Aquilion 64 CT Scanner Using a New Design of Phantom

Automatic tube current modulation (ATCM) systems are available for all CT manufacturers and are used for the majority of patients. Understanding how the systems work and their influence on patient dose and image quality is important for CT users, in order to gain the most effective use of the systems. In the present study, a new phantom was used for evaluating dose distribution and image quality under the ATCM operation for the Toshiba Aquilion 64 CT scanner using different ATCM options and a fixed mAs technique. A routine chest, abdomen and pelvis (CAP) protocol was selected for study and Gafchromic film was used to measure entrance surface dose (ESD), peripheral dose and central axis dose in the phantom. The results show the dose reductions achievable with various ATCM options, in relation with the target noise. The doses and image noise distribution were more uniform when the ATCM system was implemented compared with the fixed mAs technique. The lower limit set for the tube current will affect the modulations especially for the lower dose option. This limit prevented the tube current being reduced further and therefore the lower dose ATCM setting resembled a fixed mAs technique. Selection of a lower tube current limit is likely to reduce doses for smaller patients in scans of chest and neck regions.

Cross-Cultural Strategies for Web Design

People from different cultures favor web pages characterized by the values of their culture and, therefore, tend to prefer different characteristics of a website according to their cultural values in terms of navigation, security, product information, customer service, shopping and design tools. For a company aiming to globalize its market it is useful to implement country specific cultural interfaces and different web sites for countries with different cultures. This paper, following the conclusions proposed by two models of Hall and Hofstede, and the studies of Marcus and Gould, defines, through an empirical analysis, the guidelines of web design for both the Scandinavian countries and Malaysia.

Gene Expressions Associated with Ultrastructural Changes in Vascular Endothelium of Atherosclerotic Lesion

Attachment of the circulating monocytes to the endothelium is the earliest detectable events during formation of atherosclerosis. The adhesion molecules, chemokines and matrix proteases genes were identified to be expressed in atherogenesis. Expressions of these genes may influence structural integrity of the luminal endothelium. The aim of this study is to relate changes in the ultrastructural morphology of the aortic luminal surface and gene expressions of the endothelial surface, chemokine and MMP-12 in normal and hypercholesterolemic rabbits. Luminal endothelial surface from rabbit aortic tissue was examined by scanning electron microscopy (SEM) using low vacuum mode to ascertain ultrastructural changes in development of atherosclerotic lesion. Gene expression of adhesion molecules, MCP-1 and MMP-12 were studied by Real-time PCR. Ultrastructural observations of the aortic luminal surface exhibited changes from normal regular smooth intact endothelium to irregular luminal surface including marked globular appearance and ruptures of the membrane layer. Real-time PCR demonstrated differentially expressed of studied genes in atherosclerotic tissues. The appearance of ultrastructural changes in aortic tissue of hypercholesterolemic rabbits is suggested to have relation with underlying changes of endothelial surface molecules, chemokine and MMP-12 gene expressions.

Adjustment of a PET Scanner for PEPT

Positron emission particle tracking (PEPT) is a technique in which a single radioactive tracer particle can be accurately tracked as it moves. A limitation of PET is that in order to reconstruct a tomographic image it is necessary to acquire a large volume of data (millions of events), so it is difficult to study rapidly changing systems. By considering this fact, PEPT is a very fast process compared with PET. In PEPT detecting both photons defines a line and the annihilation is assumed to have occurred somewhere along this line. The location of the tracer can be determined to within a few mm from coincident detection of a small number of pairs of back-to-back gamma rays and using triangulation. This can be achieved many times per second and the track of a moving particle can be reliably followed. This technique was invented at the University of Birmingham [1]. The attempt in PEPT is not to form an image of the tracer particle but simply to determine its location with time. If this tracer is followed for a long enough period within a closed, circulating system it explores all possible types of motion. The application of PEPT to industrial process systems carried out at the University of Birmingham is categorized in two subjects: the behaviour of granular materials and viscous fluids. Granular materials are processed in industry for example in the manufacture of pharmaceuticals, ceramics, food, polymers and PEPT has been used in a number of ways to study the behaviour of these systems [2]. PEPT allows the possibility of tracking a single particle within the bed [3]. Also PEPT has been used for studying systems such as: fluid flow, viscous fluids in mixers [4], using a neutrally-buoyant tracer particle [5].

Characterization of HD-V2 Gafchromic Film for Measurement of Spatial Dose Distribution from Alpha Particle of 5.5 MeV

The purpose of this study was to investigate the response of the newly released Gafchromic HD-V2 film for alpha particle of 5.5 MeV. Gafchromic HD-V2 was exposed to alpha particles of energy 5 MeV from 241Am for different durations. Then the films were scanned with a flatbed scanner. The dose response curve up to 2200 Gy has been achieved. The film’s reproducibility and sensitivity were evaluated. The results obtained show that the net optical density increases almost exponentially with the increase in the exposure time, and it becomes saturated after prolonged exposure times. The red channel shows the highest sensitivity, with a value of 4 x 10-3 Gy-1 at netOD of 0.4. The inter-film reproducibility was measured and the relative uncertainty found was 1.7 %, 2.1 % and 2.3 % for grey, red and green channels, respectively.

Validation on 3D Surface Roughness Algorithm for Measuring Roughness of Psoriasis Lesion

Psoriasis is a widespread skin disease affecting up to 2% population with plaque psoriasis accounting to about 80%. It can be identified as a red lesion and for the higher severity the lesion is usually covered with rough scale. Psoriasis Area Severity Index (PASI) scoring is the gold standard method for measuring psoriasis severity. Scaliness is one of PASI parameter that needs to be quantified in PASI scoring. Surface roughness of lesion can be used as a scaliness feature, since existing scale on lesion surface makes the lesion rougher. The dermatologist usually assesses the severity through their tactile sense, therefore direct contact between doctor and patient is required. The problem is the doctor may not assess the lesion objectively. In this paper, a digital image analysis technique is developed to objectively determine the scaliness of the psoriasis lesion and provide the PASI scaliness score. Psoriasis lesion is modelled by a rough surface. The rough surface is created by superimposing a smooth average (curve) surface with a triangular waveform. For roughness determination, a polynomial surface fitting is used to estimate average surface followed by a subtraction between rough and average surface to give elevation surface (surface deviations). Roughness index is calculated by using average roughness equation to the height map matrix. The roughness algorithm has been tested to 444 lesion models. From roughness validation result, only 6 models can not be accepted (percentage error is greater than 10%). These errors occur due the scanned image quality. Roughness algorithm is validated for roughness measurement on abrasive papers at flat surface. The Pearson-s correlation coefficient of grade value (G) of abrasive paper and Ra is -0.9488, its shows there is a strong relation between G and Ra. The algorithm needs to be improved by surface filtering, especially to overcome a problem with noisy data.

Calibration of Parallel Multi-View Cameras

This paper focuses on the calibration problem of a multi-view shooting system designed for the production of 3D content for auto-stereoscopic visualization. The considered multiview camera is characterized by coplanar and decentered image sensors regarding to the corresponding optical axis. Based on the Faugéras and Toscani-s calibration approach, a calibration method is herein proposed for the case of multi-view camera with parallel and decentered image sensors. At first, the geometrical model of the shooting system is recalled and some industrial prototypes with some shooting simulations are presented. Next, the development of the proposed calibration method is detailed. Finally, some simulation results are presented before ending with some conclusions about this work.

Hydrothermal Synthesis of ZnO/SnO2 Nanoparticles with High Photocatalytic Activity

The paper reports the preparation and photocatalytic activity of ZnO/SnO2 and SnO2 nanoparticles. These nanoparticles were synthesized by hydrothermal method. The products were characterized by X-ray diffraction (XRD) and scanning electron microscopy (SEM). Their grain sizes are about 50-100 nm. The photocatalytic activities of these materials were investigated for congo red removal from aqueous solution under UV light irradiation. It was shown that the use of ZnO/SnO2 as photocatalyst have better photocatalytic activity for degradation of congo red than SnO2 or TiO2 (anatase, particle size: 30nm) alone.

3D Face Modeling based on 3D Dense Morphable Face Shape Model

Realistic 3D face model is more precise in representing pose, illumination, and expression of face than 2D face model so that it can be utilized usefully in various applications such as face recognition, games, avatars, animations, and etc. In this paper, we propose a 3D face modeling method based on 3D dense morphable shape model. The proposed 3D modeling method first constructs a 3D dense morphable shape model from 3D face scan data obtained using a 3D scanner. Next, the proposed method extracts and matches facial landmarks from 2D image sequence containing a face to be modeled, and then reconstructs 3D vertices coordinates of the landmarks using a factorization-based SfM technique. Then, the proposed method obtains a 3D dense shape model of the face to be modeled by fitting the constructed 3D dense morphable shape model into the reconstructed 3D vertices. Also, the proposed method makes a cylindrical texture map using 2D face image sequence. Finally, the proposed method generates a 3D face model by rendering the 3D dense face shape model using the cylindrical texture map. Through building processes of 3D face model by the proposed method, it is shown that the proposed method is relatively easy, fast and precise.

Study of Encapsulation of Quantum Dots in Polystyrene and Poly (E-Caprolactone)Microreactors Prepared by Microvolcanic Eruption of Freeze Dried Microspheres

Polymeric microreactors have emerged as a new generation of carriers that hold tremendous promise in the areas of cancer therapy, controlled delivery of drugs, for removal of pollutants etc. Present work reports a simple and convenient methodology for synthesis of polystyrene and poly caprolactone microreactors. An aqueous suspension of carboxylated (1μm) polystyrene latex particles was mixed with toluene solution followed by freezing with liquid nitrogen. Freezed particles were incubated at -20°C and characterized for formation of voids on the surface of polymer microspheres by Field Emission Scanning Electron Microscope. The hollow particles were then overnight incubated at 40ºC with unfunctionalized quantum dots (QDs) in 5:1 ratio. QDs Encapsulated polystyrene microcapsules were characterized by fluorescence microscopy. Likewise Poly ε-caprolactone microreactors were prepared by micro-volcanic rupture of freeze dried microspheres synthesized using emulsification of polymer with aqueous Poly vinyl alcohol and freezed with liquid nitrogen. Microreactors were examined with Field Emission Scanning Electron Microscope for size and morphology. Current study is an attempt to create hollow polymer particles which can be employed for microencapsulation of nanoparticles and drug molecules.

2D Validation of a High-order Adaptive Cartesian-grid finite-volume Characteristic- flux Model with Embedded Boundaries

A Finite Volume method based on Characteristic Fluxes for compressible fluids is developed. An explicit cell-centered resolution is adopted, where second and third order accuracy is provided by using two different MUSCL schemes with Minmod, Sweby or Superbee limiters for the hyperbolic part. Few different times integrator is used and be describe in this paper. Resolution is performed on a generic unstructured Cartesian grid, where solid boundaries are handled by a Cut-Cell method. Interfaces are explicitely advected in a non-diffusive way, ensuring local mass conservation. An improved cell cutting has been developed to handle boundaries of arbitrary geometrical complexity. Instead of using a polygon clipping algorithm, we use the Voxel traversal algorithm coupled with a local floodfill scanline to intersect 2D or 3D boundary surface meshes with the fixed Cartesian grid. Small cells stability problem near the boundaries is solved using a fully conservative merging method. Inflow and outflow conditions are also implemented in the model. The solver is validated on 2D academic test cases, such as the flow past a cylinder. The latter test cases are performed both in the frame of the body and in a fixed frame where the body is moving across the mesh. Adaptive Cartesian grid is provided by Paramesh without complex geometries for the moment.

Effect of Electromagnetic Fields on Structure and Pollen Grains Development in Chenopodium album L

The role of the pollen grain, with to the reproductive process of higher plants, is to deliver the spermatic cells to the embryo sac for egg fertilization. The aim of this project was study the effect of electromagnetic fields on structure and pollen grains development in Chenopodium album. Anthers of Chenopodium album L. were collected at different stages of development from control (without electromagnetic field) and plants grown at 10m from the field sources. Structure and development of pollen grains were studied and compared. The studying pollen structure by Light and Scanning electron microscopy showed that electromagnetic fields reduction of pollen grains number and male sterility, thus , in some anthers, pollen grains were attached together and deformed compared to control ones. The data presented suggest that prolonged exposures of plants to magnetic field may cause different biological effects at the cellular tissue and organ levels.