Corporate Governance Practices and Audit Quality: An Empirical Study of the Listed Companies in Egypt

Recent financial international scandals around the world have led to a number of investigations into the effectiveness of corporate governance practices and audit quality. Although evidence of corporate governance practices and audit quality exists from developed economies, very scanty studies have been conducted in Egypt where corporate governance is just evolving. Therefore, this study provides evidence on the effectiveness of corporate governance practices and audit quality from a developing country. The data for analysis are gathered from the top 50 most active companies in the Egyptian Stock Exchange, covering the three year period 2007-2009. Logistic regression was used in investigating the questions that were raised in the study. Findings from the study show that board independence; CEO duality and audit committees significantly have relationship with audit quality. The results also, indicate that institutional investor and managerial ownership have no significantly relationship with audit quality. Evidence also exist that size of the company; complexity and business leverage are important factors in audit quality for companies quoted on the Egypt Stock Exchange.

Dynamic Anonymity

Encryption protects communication partners from disclosure of their secret messages but cannot prevent traffic analysis and the leakage of information about “who communicates with whom". In the presence of collaborating adversaries, this linkability of actions can danger anonymity. However, reliably providing anonymity is crucial in many applications. Especially in contextaware mobile business, where mobile users equipped with PDAs request and receive services from service providers, providing anonymous communication is mission-critical and challenging at the same time. Firstly, the limited performance of mobile devices does not allow for heavy use of expensive public-key operations which are commonly used in anonymity protocols. Moreover, the demands for security depend on the application (e.g., mobile dating vs. pizza delivery service), but different users (e.g., a celebrity vs. a normal person) may even require different security levels for the same application. Considering both hardware limitations of mobile devices and different sensitivity of users, we propose an anonymity framework that is dynamically configurable according to user and application preferences. Our framework is based on Chaum-s mixnet. We explain the proposed framework, its configuration parameters for the dynamic behavior and the algorithm to enforce dynamic anonymity.

A Novel Instantaneous Frequency Computation Approach for Empirical Mode Decomposition

This paper introduces a new instantaneous frequency computation approach  -Counting Instantaneous Frequency for a general class of signals called simple waves. The classsimple wave contains a wide range of continuous signals for which the concept instantaneous frequency has a perfect physical sense. The concept of  -Counting Instantaneous Frequency also applies to all the discrete data. For all the simple wave signals and the discrete data, -Counting instantaneous frequency can be computed directly without signal decomposition process. The intrinsic mode functions obtained through empirical mode decomposition belongs to simple wave. So  -Counting instantaneous frequency can be used together with empirical mode decomposition.

A Numerical Simulation of the Indoor Air Flow

The indoor airflow with a mixed natural/forced convection was numerically calculated using the laminar and turbulent approach. The Boussinesq approximation was considered for a simplification of the mathematical model and calculations. The results obtained, such as mean velocity fields, were successfully compared with experimental PIV flow visualizations. The effect of the distance between the cooled wall and the heat exchanger on the temperature and velocity distributions was calculated. In a room with a simple shape, the computational code OpenFOAM demonstrated an ability to numerically predict flow patterns. Furthermore, numerical techniques, boundary type conditions and the computational grid quality were examined. Calculations using the turbulence model k-omega had a significant effect on the results influencing temperature and velocity distributions.

Effect of Butachlor on the Microbial Population of Direct Sown Rice

Field experiments were conducted at Annamalai University Experimental Farm, Department of Agronomy; to device suitable weed control measures for direct seeded puddled rice and to study the effect of the weed control measures on the soil microbial population. The treatments comprised of incorporation of pressmud @ 6.25 t ha-1 and application of herbicide butachlor @1.5 kg a. i. ha- 1 with and without safener 4 days after sowing (DAS), 8 DAS alone and also in conjunction with hand weeding at 30 DAS. Hand weeding twice and a weedy check were also maintained. At maximum tillering stage, the population of bacteria was significantly reduced by butachlor application. The injury to microbes caused by herbicide disappeared with the advancement of crop's age and at flowering stage of crop, there was no significant difference among the treatments. The fungal and actinomycetes population remained unaltered by weed control treatments at both the stages of observation.

Yield, Yield Components, Soil Minerals and Aroma of KDML 105 Rice in Tungkularonghai, Roi-Et,Thailand

Pearson-s correlation coefficient and sequential path analysis has been used for determining the interrelationship among yield, yield components, soil minerals and aroma of Khao Dawk Mali (KDML) 105 rice grown in the area of Tungkularonghai in Roi-Et province, located in the northeast of Thailand. Pearson-s correlation coefficient in this study showed that the number of panicles was the only factor that had positive significant (0.790**) effect on grain yield. Sequential path analysis revealed that the number of panicles followed by the number of fertile spikelets and 100-grain weight were the first-order factors which had positive direct effects on grain yield. Whereas, other factors analyzed had indirect effects influencing grain yield. This study also indicated that no significant relationship was found between the aroma level and any of the factors analyzed.

Information System Integration after Merger and Acquisition in the Banking Industry

Company mergers and acquisitions reached their peak in the twenty-first century. Mergers and acquisitions have become one of the competitive strategies for external growth. In general, it is believed that mergers and acquisitions can create synergies. However, they require complete information technology system and service integration, especially in the banking industry. Much of the research has focused on performance evaluation, shareholder equity allocation, or even the increase of company market value after the merger and acquisition, whereas few scholars have focused on information system integration post merger and acquisition. This study indicates the role of information systems after a merger and acquisition, explaining the benefits of information system integration using a merger and acquisition case in the banking industry as an example. In addition, we discuss factors that affect the performance of information system integration, and utilize system dynamics to interpret the relationship among factors that affect information system integration performance in the banking industry after a merger and acquisition.

Using Neural Network for Execution of Programmed Pulse Width Modulation (PPWM) Method

Application of neural networks in execution of programmed pulse width modulation (PPWM) of a voltage source inverter (VSI) is studied in this paper. Using the proposed method it is possible to cancel out the desired harmonics in output of VSI in addition to control the magnitude of fundamental harmonic, contineously. By checking the non-trained values and a performance index, the most appropriate neural network is proposed. It is shown that neural networks may solve the custom difficulties of practical utilization of PPWM such as large size of memory, complex digital circuits and controlling the magnitude of output voltage in a discrete manner.

Capacity of Overloaded DS-CDMA System on Rayleigh Fading Channel with Timing Error

The number of users supported in a DS-CDMA cellular system is typically less than spreading factor (N), and the system is said to be underloaded. Overloading is a technique to accommodate more number of users than the spreading factor N. In O/O overloading scheme, the first set is assigned to the N synchronous users and the second set is assigned to the additional synchronous users. An iterative multistage soft decision interference cancellation (SDIC) receiver is used to remove high level of interference between the two sets. Performance is evaluated in terms of the maximum number acceptable users so that the system performance is degraded slightly compared to the single user performance at a specified BER. In this paper, the capacity of CDMA based O/O overloading scheme is evaluated with SDIC receiver. It is observed that O/O scheme using orthogonal Gold codes provides 25% channel overloading (N=64) for synchronous DS-CDMA system on an AWGN channel in the uplink at a BER of 1e-5.For a Rayleigh faded channel, the critical capacity is 40% at a BER of 5e-5 assuming synchronous users. But in practical systems, perfect chip timing is very difficult to maintain in the uplink.. We have shown that the overloading performance reduces to 11% for a timing synchronization error of 0.02Tc for a BER of 1e-5.

Alignment of MG-63 Osteoblasts on Fibronectin-Coated Phosphorous Doping Lattices in Silicon

A major challenge in biomaterials research is the regulation of protein adsorption which is a key factor for controlling the subsequent cell adhesion at implant surfaces. The aim of the present study was to control the adsorption of fibronectin (FN) and the attachment of MG-63 osteoblasts with an electronic nanostructure. Shallow doping line lattices with a period of 260 nm were produced for this purpose by implantation of phosphorous in silicon wafers. Protein coverage was determined after incubating the substrate with FN by means of an immunostaining procedure and the measurement of the fluorescence intensity with a TECAN analyzer. We observed an increased amount of adsorbed FN on the nanostructure compared to control substrates. MG-63 osteoblasts were cultivated for 24h on FN-incubated substrates and their morphology was assessed by SEM. Preferred orientation and elongation of the cells in direction of the doping lattice lines was observed on FN-coated nanostructures.

Feature Weighting and Selection - A Novel Genetic Evolutionary Approach

A feature weighting and selection method is proposed which uses the structure of a weightless neuron and exploits the principles that govern the operation of Genetic Algorithms and Evolution. Features are coded onto chromosomes in a novel way which allows weighting information regarding the features to be directly inferred from the gene values. The proposed method is significant in that it addresses several problems concerned with algorithms for feature selection and weighting as well as providing significant advantages such as speed, simplicity and suitability for real-time systems.

The Impact of Upgrades on ERP System Reliability

Constant upgrading of Enterprise Resource Planning (ERP) systems is necessary, but can cause new defects. This paper attempts to model the likelihood of defects after completed upgrades with Weibull defect probability density function (PDF). A case study is presented analyzing data of recorded defects obtained for one ERP subsystem. The trends are observed for the value of the parameters relevant to the proposed statistical Weibull distribution for a given one year period. As a result, the ability to predict the appearance of defects after the next upgrade is described.

Development of Automatic Guided Mobile Robot Using Magnetic Position Meter

In this paper, an automatic guided mobile robot using a new magnetic position meter is described. In order to measure the lateral position of a mobile robot, a new magnetic position meter is developed. The magnetic position meter can detect the position of a magnetic wire on the center of road. A mobile robot in designed with a sensing system, a steering system and a driving system. The designed mobile robot is tested to verify the performance of automatic guidance.

Frequency Offset Estimation Schemes Based On ML for OFDM Systems in Non-Gaussian Noise Environments

In this paper, frequency offset (FO) estimation schemes robust to the non-Gaussian noise environments are proposed for orthogonal frequency division multiplexing (OFDM) systems. First, a maximum-likelihood (ML) estimation scheme in non-Gaussian noise environments is proposed, and then, the complexity of the ML estimation scheme is reduced by employing a reduced set of candidate values. In numerical results, it is demonstrated that the proposed schemes provide a significant performance improvement over the conventional estimation scheme in non-Gaussian noise environments while maintaining the performance similar to the estimation performance in Gaussian noise environments.

Predictability Analysis on HIV/AIDS System using Hurst Exponents

Methods of contemporary mathematical physics such as chaos theory are useful for analyzing and understanding the behavior of complex biological and physiological systems. The three dimensional model of HIV/AIDS is the basis of active research since it provides a complete characterization of disease dynamics and the interaction of HIV-1 with the immune system. In this work, the behavior of the HIV system is analyzed using the three dimensional HIV model and a chaotic measure known as the Hurst exponent. Results demonstrate that Hurst exponents of CD4, CD8 cells and viral load vary nonlinearly with respect to variations in system parameters. Further, it was observed that the three dimensional HIV model can accommodate both persistent (H>0.5) and anti-persistent (H

Three Attacks on Jia et al.'s Remote User Authentication Scheme using Bilinear Pairings and ECC

Recently, Jia et al. proposed a remote user authentication scheme using bilinear pairings and an Elliptic Curve Cryptosystem (ECC). However, the scheme is vulnerable to privileged insider attack at their proposed registration phase and to forgery attack at their proposed authentication phase. In addition, the scheme can be vulnerable to server spoofing attack because it does not provide mutual authentication between the user and the remote server. Therefore, this paper points out that the Jia et al. scheme is vulnerable to the above three attacks.

Influence of Reaction Temperature and Water Content on Wheat Straw Pyrolysis

The aim of this study was to investigate the influence of reaction temperature and wheat straw moisture content on the pyrolysis product yields, in the temperature range of 475-575 °C. Samples of straw with moisture contents from 1.5 wt % to 15.0 wt % were fed to a bench scale Pyrolysis Centrifuge Reactor (PCR). The experimental results show that the changes in straw moisture content have no significant effect on the distribution of pyrolysis product yields. The maximum bio-oil yields approximately 60 (wt %, on dry ash free feedstock basis) was observed around 525 °C - 550 °C for all straw moisture levels. The water content in the wet straw bio-oil was the highest. The heating value of bio-oil and solid char were measured and the percentages of its energy distribution were calculated. The energy distributions of bio-oil, char and gas were 56- 69 % 24-33 %, and 2-19 %, respectively.

Investigating Ultra Violet (UV) Strength against Different Level of Altitude using New Environmental Data Management System

This paper presents the investigation results of UV measurement at different level of altitudes and the development of a new portable instrument for measuring UV. The rapid growth of industrial sectors in developing countries including Malaysia, brings not only income to the nation, but also causes pollution in various forms. Air pollution is one of the significant contributors to global warming by depleting the Ozone layer, which would reduce the filtration of UV rays. Long duration of exposure to high to UV rays has many devastating health effects to mankind directly or indirectly through destruction of the natural resources. This study aimed to show correlation between UV and altitudes which indirectly can help predict Ozone depletion. An instrument had been designed to measure and monitors the level of UV. The instrument comprises of two main blocks namely data logger and Graphic User Interface (GUI). Three sensors were used in the data logger to detect changes in the temperature, humidity and ultraviolet. The system has undergone experimental measurement to capture data at two different conditions; industrial area and high attitude area. The performance of the instrument showed consistency in the data captured and the results of the experiment drew a significantly high reading of UV at high altitudes.

Effects of Tillage and Oil Palm Bunch Ash Plus Poultry Manure on Soil Chemical Properties, Growth and Ginger Yield

Field experiments were carried out at Owo, southwest Nigeria to evaluate the effect of different tillage practices (zero tillage with mulch (ZTM), row tillage (RT) and conventional tillage (CT), and with or without oil palm bunch ash plus poultry manure (OBA+PM) on soil chemical properties, growth and yield of ginger. The experiment was laid out in a randomized complete plot design with three replications. Soil chemical properties, growth and fresh rhizome yield reduced with frequency/intensity of tillage imposed while application of OBA+PM increased them. Among the tillage practices, the highest fresh rhizome yield (15.0t ha-1) was produced by ZTM which was significantly different from other tillage practices. Among the tillage – OBA+PM combinations, the  most satisfactorily yield (20.1t ha-1) was produced by ZTM+OBA+PM while the lowest yield (15.7t ha-1) was in CT+OBA+PM.

VaR Forecasting in Times of Increased Volatility

The paper evaluates several hundred one-day-ahead VaR forecasting models in the time period between the years 2004 and 2009 on data from six world stock indices - DJI, GSPC, IXIC, FTSE, GDAXI and N225. The models model mean using the ARMA processes with up to two lags and variance with one of GARCH, EGARCH or TARCH processes with up to two lags. The models are estimated on the data from the in-sample period and their forecasting accuracy is evaluated on the out-of-sample data, which are more volatile. The main aim of the paper is to test whether a model estimated on data with lower volatility can be used in periods with higher volatility. The evaluation is based on the conditional coverage test and is performed on each stock index separately. The primary result of the paper is that the volatility is best modelled using a GARCH process and that an ARMA process pattern cannot be found in analyzed time series.