Financial Ethics: A Review of 2010 Flash Crash

Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Soil Mass Loss Reduction during Rainfalls by Reinforcing the Slopes with the Surficial Confinement

Soil confinement systems serve as effective solutions to any erosion control project. Various confinements systems, namely triangular, circular and rectangular with the size of 50, 100, and 150 mm, and with a depth of 10 mm, were embedded in soil samples at slope angle of 60°. The observed soil mass losses for the confined soil systems were much smaller than those from unconfined system. As a result, the size of confinement and rainfall intensity have a direct effect on the soil mass loss. The triangular and rectangular confinement systems showed the lowest and highest soil loss masses, respectively. The slopes also failed much faster in the unconfined system than in the confined slope.

Resident-Aware Green Home

The amount of energy the world uses doubles every 20 years. Green homes play an important role in reducing the residential energy demand. This paper presents a platform that is intended to learn the behavior of home residents and build a profile about their habits and actions. The proposed resident aware home controller intervenes in the operation of home appliances in order to save energy without compromising the convenience of the residents. The presented platform can be used to simulate the actions and movements happening inside a home. The paper includes several optimization techniques that are meant to save energy in the home. In addition, several test scenarios are presented that show how the controller works. Moreover, this paper shows the computed actual savings when each of the presented techniques is implemented in a typical home. The test scenarios have validated that the techniques developed are capable of effectively saving energy at homes.

Estimation of Seismic Ground Motion and Shaking Parameters Based On Microtremor Measurements at Palu City, Central Sulawesi Province, Indonesia

In this study, we estimated the seismic ground motion parameters based on microtremor measurements atPalu City. Several earthquakes have struck along the Palu-Koro Fault during recent years. The USGS epicenter, magnitude Mw 6.3 event that occurred on January 23, 2005 caused several casualties. We conducted a microtremor survey to estimate the strong ground motion distribution during the earthquake. From this surveywe produced a map of the peak ground acceleration, velocity, seismic vulnerability index and ground shear strain maps in Palu City. We performed single observations of microtremor at 151 sites in Palu City. We also conducted8-site microtremors array investigation to gain a representative determination of the soil condition of subsurface structures in Palu City.From the array observations, Palu City corresponds to relatively soil condition with Vs ≤ 300m/s, the predominant periods due to horizontal vertical ratios (HVSRs) are in the range of 0.4 to 1.8 s and the frequency are in the range of 0.7 to 3.3 Hz. Strong ground motions of the Palu area were predicted based on the empirical stochastic green’s function method. Peak ground acceleration and velocity becomes more than 400 gal and 30 kine in some areas, which causes severe damage for buildings in high probability. Microtremor survey results showed that in hilly areas had low seismic vulnerability index and ground shear strain, whereas in coastal alluvium was composed of material having a high seismic vulnerability and ground shear strain indication.

Approximate Solution of Some Mixed Boundary Value Problems of the Generalized Theory of Couple-Stress Thermo-Elasticity

We have considered the harmonic oscillations and general dynamic (pseudo oscillations) systems of theory generalized Green-Lindsay of couple-stress thermo-elasticity for isotropic, homogeneous elastic media. Approximate solution of some mixed boundary value problems for finite domain, bounded by the some closed surface are constructed.

Some Aspects of Study the Leaching and Acid Corrosion of Concrete

Although properly made concrete is inherently a durable material, there are many physical and chemical forces in the environment which can contribute to its deterioration. This paper deals with two aspects of concrete durability in chemical aggressive environment: degradation effect of particular aggressive exposure and role of particular mineral additives. Results of the study of leaching and acid corrosion processes in samples prepared with specific dosage of microsilica and zeolite are given in the paper. Corrosion progress after 60-day exposition is manifested by increasing rate of both Ca and Si release, what is identified by XRF method. Kind and dosage of additions used in experiment was found to be helpful for stabilization of concrete microstructure.The lowest concentration of mean elements in leachates was observed for mixture V1 (microsilica only) unlike the V2 (microsilica + zeolite). It is surprising in the terms of recommendations of zeolite application for acid exposure. Using microsilica only seems to be more effective.

Analysis of Sulphur-Oxidizing Bacteria Attack on Concrete Based On Waste Materials

Concrete durability as an important engineering property of concrete, determining the service life of concrete structures very significantly, can be threatened and even lost due to the interactions of concrete with external environment. Bio-corrosion process caused by presence and activities of microorganisms producing sulphuric acid is a special type of sulphate deterioration of concrete materials. The effects of sulphur-oxidizing bacteria Acidithiobacillus thiooxidans on various concrete samples, based on silica fume and zeolite, were investigated in laboratory during 180 days. A laboratory study was conducted to compare the performance of concrete samples in terms of the concrete deterioration influenced by the leaching of calcium and silicon compounds from the cement matrix. The changes in the elemental concentrations of calcium and silicon in both solid samples and liquid leachates were measured by using X – ray fluorescence method. Experimental studies confirmed the silica fume based concrete samples were found out to have the best performance in terms of both silicon and calcium ions leaching.

Statistical Modeling for Permeabilization of a Novel Yeast Isolate for β-Galactosidase Activity Using Organic Solvents

The hydrolysis of lactose using β-galactosidase is one of the most promising biotechnological applications, which has wide range of potential applications in food processing industries. However, due to intracellular location of the yeast enzyme, and expensive extraction methods, the industrial applications of enzymatic hydrolysis processes are being hampered. The use of permeabilization technique can help to overcome the problems associated with enzyme extraction and purification of yeast cells and to develop the economically viable process for the utilization of whole cell biocatalysts in food industries. In the present investigation, standardization of permeabilization process of novel yeast isolate was carried out using a statistical model approach known as Response Surface Methodology (RSM) to achieve maximal b-galactosidase activity. The optimum operating conditions for permeabilization process for optimal β-galactosidase activity obtained by RSM were 1:1 ratio of toluene (25%, v/v) and ethanol (50%, v/v), 25.0 oC temperature and treatment time of 12 min, which displayed enzyme activity of 1.71 IU /mg DW.

Selected Technological Factors Influencing the Modulus of Elasticity of Concrete

The topic of the article focuses on the evaluation of selected technological factors and their influence on resulting elasticity modulus of concrete. A series of various factors enter into the manufacturing process which, more or less, influences the elasticity modulus. This paper presents the results of concrete in which the influence of water coefficient and the size of maximum fraction of the aggregate on the static elasticity modulus were monitored. Part of selected results of the long-term programme was discussed in which a wide scope of various variants of proposals for the composition of concretes was evaluated.

Studies and Full Scale Tests for the Development of a Ravine Filling with a Depth of about 12.00m

In compaction works, the most often used codes and standards are those for road embankments and refer to a maximum filling height of 3.00m. When filling a height greater than 3.00m, such codes are no longer valid and thus their application may lead to technical difficulties in the process of compaction and to the achievement of a sufficient degree of compaction. For this reason, in the case of controlled fillings with heights greater than 3.00m it is necessary to formulate and apply a number of special techniques, which can be determined by performing a full scale test. This paper presents the results of the studies and full scale tests conducted for the stabilization of a ravine with vertical banks and a depth of about 12.00m. The fillings will support a heavy traffic road connecting the two parts of a village in Vaslui County, Romania. After analyzing two comparative intervention solutions, the variant of a controlled filling bordered by a monolith concrete retaining wall was chosen. The results obtained by the authors highlighted the need to insert a geogrid reinforcement at every 2.00m for creating a 12.00m thick compacted fill.

The Reliability of Management Earnings Forecasts in IPO Prospectuses: A Study of Managers’ Forecasting Preferences

This study investigates the reliability of management earnings forecasts with reference to these two ingredients: verifiability and neutrality. Specifically, we examine the biasedness (or accuracy) of management earnings forecasts and company specific characteristics that can be associated with accuracy. Based on sample of 102 IPO prospectuses published for admission on NYSE Euronext Paris from 2002 to 2010, we found that these forecasts are on average optimistic and two of the five test variables, earnings variability and financial leverage are significant in explaining ex post bias. Acknowledging the possibility that the bias is the result of the managers’ forecasting behavior, we then examine whether managers decide to under-predict, over-predict or forecast accurately for self-serving purposes. Explicitly, we examine the role of financial distress, operating performance, ownership by insiders and the economy state in influencing managers’ forecasting preferences. We find that managers of distressed firms seem to over-predict future earnings. We also find that when managers are given more stock options, they tend to under-predict future earnings. Finally, we conclude that the management earnings forecasts are affected by an intentional bias due to managers’ forecasting preferences.

Mechanical Characteristics on Fatigue Crack Propagation in Aluminium Plate

This paper present a mechanical characteristics on fatigue crack propagation in Aluminium Plate based on strain and stress distribution using the abaqus software. The changes in shear strain and stress distribution during the fatigue cycle with crack growth is identified. In progressive crack in the strain distribution and the stress is increase in the critical zone. Numerical Modal analysis of the model developed, prove that the Eigen frequencies of aluminium plate were decreased after cracking, and this reduce is nonlinear. These results can provide a reference for analysts and designers of aluminium alloys in aeronautical systems. Therefore, the modal analysis is an important factor for monitoring the aeronautic structures.

Optimal Economic Restructuring Aimed at an Increase in GDP Constrained by a Decrease in Energy Consumption and CO2 Emissions

The objective of this paper is finding the way of economic restructuring - that is, change in the shares of sectoral gross outputs - resulting in the maximum possible increase in the gross domestic product (GDP) combined with decreases in energy consumption and CO2 emissions. It uses an input-output model for the GDP and factorial models for the energy consumption and CO2 emissions to determine the projection of the gradient of GDP, and the antigradients of the energy consumption and CO2 emissions, respectively, on a subspace formed by the structure-related variables. Since the gradient (antigradient) provides a direction of the steepest increase (decrease) of the objective function, and their projections retain this property for the functions' limitation to the subspace, each of the three directional vectors solves a particular problem of optimal structural change. In the next step, a type of factor analysis is applied to find a convex combination of the projected gradient and antigradients having maximal possible positive correlation with each of the three. This convex combination provides the desired direction of the structural change. The national economy of the United States is used as an example of applications.

A Comparative Study on Seismic Provisions Made in UBC-1997 and Saudi Building Code for RC Buildings

This paper presents a comparative study of static analysis procedure for seismic performance based on UBC-1997 and SBC-301-2007(Saudi Arabia). These building codes define different ductility classes and corresponding response reduction factors based on material, configuration and detailing of reinforcements. Codes differ significantly in specifying the procedures to estimate base shear, drift and effective stiffness of structural members. One of the major improvements made in new SBC (based on IBC-2003) is ground motion parameters used for seismic design. In old SBC (based on UBC) maps have been based on seismic zones. However new SBC provide contour maps giving spectral response quantities. In this approach, a case study of RC frame building located in two different cities and with different ductility classes has been performed. Moreover, equivalent static method based on SBC-301 and UBC-1997 is used to explore the variation in results based on two codes, particularly design base shear, lateral loads and story drifts.

Dynamic Modeling of a Robot for Playing a Curved 3D Percussion Instrument Utilizing a Finite Element Method

The Finite Element Method is commonly used in the analysis of flexible manipulators to predict elastic displacements and develop joint control schemes for reducing positioning error. In order to preserve simplicity, regular geometries, ideal joints and connections are assumed. This paper presents the dynamic FE analysis of a 4- degrees of freedom open chain manipulator, intended for striking a curved 3D surface percussion musical instrument. This was done utilizing the new MultiBody Dynamics Module in COMSOL, capable of modeling the elastic behavior of a body undergoing rigid body type motion.

Enhanced Method of Conceptual Sizing of Aircraft Electro-Thermal De-icing System

There is a great advancement towards the All-Electric Aircraft (AEA) technology. The AEA concept assumes that all aircraft systems will be integrated into one electrical power source in the future. The principle of the electro-thermal system is to transfer the energy required for anti/de-icing to the protected areas in electrical form. However, powering a large aircraft anti-icing system electrically could be quite excessive in cost and system weight. Hence, maximising the anti/de-icing efficiency of the electro-thermal system in order to minimise its power demand has become crucial to electro-thermal de-icing system sizing. In this work, an enhanced methodology has been developed for conceptual sizing of aircraft electro-thermal de-icing System. The work factored those critical terms overlooked in previous studies which were critical to de-icing energy consumption. A case study of a typical large aircraft wing de-icing was used to test and validate the model. The model was used to optimise the system performance by a trade-off between the de-icing peak power and system energy consumption. The optimum melting surface temperatures and energy flux predicted enabled the reduction in the power required for de-icing. The weight penalty associated with electro-thermal anti-icing/de-icing method could be eliminated using this method without under estimating the de-icing power requirement.

Effect of Windrow Management on Ammonia and Nitrous Oxide Emissions from Swine Manure Composting

In the era of sustainability, utilization of livestock wastes as soil amendment to provide micronutrients for crops is very economical and sustainable. It is well understood that livestock wastes are comparable, if not better, nutrient sources for crops as chemical fertilizers. However, the large concentrated volumes of animal manure produced from livestock operations and the limited amount of available nearby agricultural land areas necessitated the need for volume reduction of these animal wastes. Composting of these animal manures is a viable option for biomass and pathogenic reduction in the environment. Nevertheless, composting also increases the potential loss of available nutrients for crop production as well as unwanted emission of anthropogenic air pollutants due to the loss of ammonia and other compounds via volatilization. In this study, we examine the emission of ammonia and nitrous oxide from swine manure windrows to evaluate the benefit of biomass reduction in conjunction with the potential loss of available nutrients. The feedstock for the windrows was obtained from swine farm in Kentucky where swine manure was mixed with wood shaving as absorbent material. Static flux chambers along with photoacoustic gas analyzer were used to monitor ammonia and nitrous oxide concentrations during the composting process. The results show that ammonia and nitrous oxide fluxes were quite high during the initial composting process and after the turning of each compost pile. Over the period of roughly three months of composting, the biochemical oxygen demand (BOD) decreased by about 90%. Although composting of animal waste is quite beneficial for biomass reduction, composting may not be economically feasible from an agronomical point of view due to time, nutrient loss (N loss), and potential environmental pollution (ammonia and greenhouse gas emissions). Therefore, additional studies are needed to assess and validate the economics and environmental impact of animal (swine) manure composting (e.g., crop yield or impact on climate change).

Estimation of Asphalt Pavement Surfaces Using Image Analysis Technique

Asphalt concrete pavements gradually lose their skid resistance causing safety problems especially under wet conditions and high driving speeds. In order to enact the actual field polishing and wearing process of asphalt pavement surfaces in a laboratory setting, several laboratory-scale accelerated polishing devices were developed by different agencies. To mimic the actual process, friction and texture measuring devices are needed to quantify surface deterioration at different polishing intervals that reflect different stages of the pavement life. The test could still be considered lengthy and to some extent labor-intensive. Therefore, there is a need to come up with another method that can assist in investigating the bituminous pavement surface characteristics in a practical and time-efficient test procedure. The purpose of this paper is to utilize a well-developed image analysis technique to characterize asphalt pavement surfaces without the need to use conventional friction and texture measuring devices in an attempt to shorten and simplify the polishing procedure in the lab. Promising findings showed the possibility of using image analysis in lieu of the labor-sensitive-variable-in-nature friction and texture measurements. It was found that the exposed aggregate surface area of asphalt specimens made from limestone and gravel aggregates produced solid evidence of the validity of this method in describing asphalt pavement surfaces. Image analysis results correlated well with the British Pendulum Numbers (BPN), Polish Values (PV) and Mean Texture Depth (MTD) values.

Investigation on the Stability of Rock Slopes Subjected to Tension Cracks via Limit Analysis

Based on the kinematic approach of limit analysis, a full set of upper bound solutions for the stability of homogeneous rock slopes subjected to tension cracks are obtained. The generalized Hoek-Brown failure criterion is employed to describe the non-linear strength envelope of rocks. In this paper, critical failure mechanisms are determined for cracks of known depth but unspecified location, cracks of known location but unknown depth, and cracks of unspecified location and depth. It is shown that there is a nearly up to 50% drop in terms of the stability factors for the rock slopes intersected by a tension crack compared with intact ones. Tables and charts of solutions in dimensionless forms are presented for ease of use by practitioners.

Mechanisms of Ginger Bioactive Compounds Extract Using Soxhlet and Accelerated Water Extraction

The mechanism for extraction bioactive compounds from plant matrix is essential for optimizing the extraction process. As a benchmark technique, a soxhlet extraction has been utilized for discussing the mechanism and compared with an accelerated water extraction. The trends of both techniques show that the process involves extraction and degradation. The highest yields of 6-, 8-, 10-gingerols and 6-shogaol in soxhlet extraction were 13.948, 7.12, 10.312 and 2.306 mg/g, respectively. The optimum 6-, 8-, 10-gingerols and 6-shogaol extracted by the accelerated water extraction at 140oC were 68.97±3.95 mg/g at 3min, 18.98±3.04 mg/g at 5min, 5.167±2.35 mg/g at 3min and 14.57±6.27 mg/g at 3min, respectively. The effect of temperature at 3mins shows that the concentration of 6-shogaol increased rapidly as decreasing the recovery of 6-gingerol.