Is the Liberalization Policy Effective on Improving the Bivariate Cointegration of Current Accounts, Foreign Exchange, Stock Prices? Further Evidence from Asian Markets

This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.

Position Based Routing Protocol with More Reliability in Mobile Ad Hoc Network

Position based routing protocols are the kinds of routing protocols, which they use of nodes location information, instead of links information to routing. In position based routing protocols, it supposed that the packet source node has position information of itself and it's neighbors and packet destination node. Greedy is a very important position based routing protocol. In one of it's kinds, named MFR (Most Forward Within Radius), source node or packet forwarder node, sends packet to one of it's neighbors with most forward progress towards destination node (closest neighbor to destination). Using distance deciding metric in Greedy to forward packet to a neighbor node, is not suitable for all conditions. If closest neighbor to destination node, has high speed, in comparison with source node or intermediate packet forwarder node speed or has very low remained battery power, then packet loss probability is increased. Proposed strategy uses combination of metrics distancevelocity similarity-power, to deciding about giving the packet to which neighbor. Simulation results show that the proposed strategy has lower lost packets average than Greedy, so it has more reliability.

A Web Oriented Watermarking Protocol

This paper presents a watermarking protocol able to solve the well-known “customer-s right problem" and “unbinding problem". In particular, the protocol has been purposely designed to be adopted in a web context, where users wanting to buy digital contents are usually neither provided with digital certificates issued by certification authorities (CAs) nor able to autonomously perform specific security actions. Furthermore, the protocol enables users to keep their identities unexposed during web transactions as well as allows guilty buyers, i.e. who are responsible distributors of illegal replicas, to be unambiguously identified. Finally, the protocol has been designed so that web content providers (CPs) can exploit copyright protection services supplied by web service providers (SPs) in a security context. Thus, CPs can take advantage of complex services without having to directly implement them.

Application of Spreadsheet and Queuing Network Model to Capacity Optimization in Product Development

Modeling of a manufacturing system enables one to identify the effects of key design parameters on the system performance and as a result to make correct decision. This paper proposes a manufacturing system modeling approach using a spreadsheet model based on queuing network theory, in which a static capacity planning model and stochastic queuing model are integrated. The model was used to improve the existing system utilization in relation to product design. The model incorporates few parameters such as utilization, cycle time, throughput, and batch size. The study also showed that the validity of developed model is good enough to apply and the maximum value of relative error is 10%, far below the limit value 32%. Therefore, the model developed in this study is a valuable alternative model in evaluating a manufacturing system

Noise Analysis of Single-Ended Input Differential Amplifier using Stochastic Differential Equation

In this paper, we analyze the effect of noise in a single- ended input differential amplifier working at high frequencies. Both extrinsic and intrinsic noise are analyzed using time domain method employing techniques from stochastic calculus. Stochastic differential equations are used to obtain autocorrelation functions of the output noise voltage and other solution statistics like mean and variance. The analysis leads to important design implications and suggests changes in the device parameters for improved noise characteristics of the differential amplifier.

Burstiness Reduction of a Doubly Stochastic AR-Modeled Uniform Activity VBR Video

Stochastic modeling of network traffic is an area of significant research activity for current and future broadband communication networks. Multimedia traffic is statistically characterized by a bursty variable bit rate (VBR) profile. In this paper, we develop an improved model for uniform activity level video sources in ATM using a doubly stochastic autoregressive model driven by an underlying spatial point process. We then examine a number of burstiness metrics such as the peak-to-average ratio (PAR), the temporal autocovariance function (ACF) and the traffic measurements histogram. We found that the former measure is most suitable for capturing the burstiness of single scene video traffic. In the last phase of this work, we analyse statistical multiplexing of several constant scene video sources. This proved, expectedly, to be advantageous with respect to reducing the burstiness of the traffic, as long as the sources are statistically independent. We observed that the burstiness was rapidly diminishing, with the largest gain occuring when only around 5 sources are multiplexed. The novel model used in this paper for characterizing uniform activity video was thus found to be an accurate model.

Numerical Optimization within Vector of Parameters Estimation in Volatility Models

In this paper usefulness of quasi-Newton iteration procedure in parameters estimation of the conditional variance equation within BHHH algorithm is presented. Analytical solution of maximization of the likelihood function using first and second derivatives is too complex when the variance is time-varying. The advantage of BHHH algorithm in comparison to the other optimization algorithms is that requires no third derivatives with assured convergence. To simplify optimization procedure BHHH algorithm uses the approximation of the matrix of second derivatives according to information identity. However, parameters estimation in a/symmetric GARCH(1,1) model assuming normal distribution of returns is not that simple, i.e. it is difficult to solve it analytically. Maximum of the likelihood function can be founded by iteration procedure until no further increase can be found. Because the solutions of the numerical optimization are very sensitive to the initial values, GARCH(1,1) model starting parameters are defined. The number of iterations can be reduced using starting values close to the global maximum. Optimization procedure will be illustrated in framework of modeling volatility on daily basis of the most liquid stocks on Croatian capital market: Podravka stocks (food industry), Petrokemija stocks (fertilizer industry) and Ericsson Nikola Tesla stocks (information-s-communications industry).

Evaluation of Algorithms for Sequential Decision in Biosonar Target Classification

A sequential decision problem, based on the task ofidentifying the species of trees given acoustic echo data collectedfrom them, is considered with well-known stochastic classifiers,including single and mixture Gaussian models. Echoes are processedwith a preprocessing stage based on a model of mammalian cochlearfiltering, using a new discrete low-pass filter characteristic. Stoppingtime performance of the sequential decision process is evaluated andcompared. It is observed that the new low pass filter processingresults in faster sequential decisions.

Enhanced-Delivery Overlay Multicasting Scheme by Optimizing Bandwidth and Latency Discrepancy Ratios

With optimized bandwidth and latency discrepancy ratios, Node Gain Scores (NGSs) are determined and used as a basis for shaping the max-heap overlay. The NGSs - determined as the respective bandwidth-latency-products - govern the construction of max-heap-form overlays. Each NGS is earned as a synergy of discrepancy ratio of the bandwidth requested with respect to the estimated available bandwidth, and latency discrepancy ratio between the nodes and the source node. The tree leads to enhanceddelivery overlay multicasting – increasing packet delivery which could, otherwise, be hindered by induced packet loss occurring in other schemes not considering the synergy of these parameters on placing the nodes on the overlays. The NGS is a function of four main parameters – estimated available bandwidth, Ba; individual node's requested bandwidth, Br; proposed node latency to its prospective parent (Lp); and suggested best latency as advised by source node (Lb). Bandwidth discrepancy ratio (BDR) and latency discrepancy ratio (LDR) carry weights of α and (1,000 - α ) , respectively, with arbitrary chosen α ranging between 0 and 1,000 to ensure that the NGS values, used as node IDs, maintain a good possibility of uniqueness and balance between the most critical factor between the BDR and the LDR. A max-heap-form tree is constructed with assumption that all nodes possess NGS less than the source node. To maintain a sense of load balance, children of each level's siblings are evenly distributed such that a node can not accept a second child, and so on, until all its siblings able to do so, have already acquired the same number of children. That is so logically done from left to right in a conceptual overlay tree. The records of the pair-wise approximate available bandwidths as measured by a pathChirp scheme at individual nodes are maintained. Evaluation measures as compared to other schemes – Bandwidth Aware multicaSt architecturE (BASE), Tree Building Control Protocol (TBCP), and Host Multicast Tree Protocol (HMTP) - have been conducted. This new scheme generally performs better in terms of trade-off between packet delivery ratio; link stress; control overhead; and end-to-end delays.

Application of Ti/RuO2-SnO2-Sb2O5 Anode for Degradation of Reactive Black-5 Dye

Electrochemical-oxidation of Reactive Black-5 (RB- 5) was conducted for degradation using DSA type Ti/RuO2-SnO2- Sb2O5 electrode. In the study, for electro-oxidation, electrode was indigenously fabricated in laboratory using titanium as substrate. This substrate was coated using different metal oxides RuO2, Sb2O5 and SnO2 by thermal decomposition method. Laboratory scale batch reactor was used for degradation and decolorization studies at pH 2, 7 and 11. Current density (50mA/cm2) and distance between electrodes (8mm) were kept constant for all experiments. Under identical conditions, removal of color, COD and TOC at initial pH 2 was 99.40%, 55% and 37% respectively for initial concentration of 100 mg/L RB-5. Surface morphology and composition of the fabricated electrode coatings were characterized using scanning electron microscopy (SEM) and energy dispersive X-ray spectroscopy (EDX) respectively. Coating microstructure was analyzed by X-ray diffraction (XRD). Results of this study further revealed that almost 90% of oxidation occurred within 5-10 minutes.

Adaptive Fuzzy Routing in Opportunistic Network (AFRON)

Opportunistic network is a kind of Delay Tolerant Networks (DTN) where the nodes in this network come into contact with each other opportunistically and communicate wirelessly and, an end-to-end path between source and destination may have never existed, and disconnection and reconnection is common in the network. In such a network, because of the nature of opportunistic network, perhaps there is no a complete path from source to destination for most of the time and even if there is a path; the path can be very unstable and may change or break quickly. Therefore, routing is one of the main challenges in this environment and, in order to make communication possible in an opportunistic network, the intermediate nodes have to play important role in the opportunistic routing protocols. In this paper we proposed an Adaptive Fuzzy Routing in opportunistic network (AFRON). This protocol is using the simple parameters as input parameters to find the path to the destination node. Using Message Transmission Count, Message Size and Time To Live parameters as input fuzzy to increase delivery ratio and decrease the buffer consumption in the all nodes of network.

Stochastic Comparisons of Heterogeneous Samples with Homogeneous Exponential Samples

In the present communication, stochastic comparison of a series (parallel) system having heterogeneous components with random lifetimes and series (parallel) system having homogeneous exponential components with random lifetimes has been studied. Further, conditions under which such a comparison is possible has been established.

Neural Network Evaluation of FRP Strengthened RC Buildings Subjected to Near-Fault Ground Motions having Fling Step

Recordings from recent earthquakes have provided evidence that ground motions in the near field of a rupturing fault differ from ordinary ground motions, as they can contain a large energy, or “directivity" pulse. This pulse can cause considerable damage during an earthquake, especially to structures with natural periods close to those of the pulse. Failures of modern engineered structures observed within the near-fault region in recent earthquakes have revealed the vulnerability of existing RC buildings against pulse-type ground motions. This may be due to the fact that these modern structures had been designed primarily using the design spectra of available standards, which have been developed using stochastic processes with relatively long duration that characterizes more distant ground motions. Many recently designed and constructed buildings may therefore require strengthening in order to perform well when subjected to near-fault ground motions. Fiber Reinforced Polymers are considered to be a viable alternative, due to their relatively easy and quick installation, low life cycle costs and zero maintenance requirements. The objective of this paper is to investigate the adequacy of Artificial Neural Networks (ANN) to determine the three dimensional dynamic response of FRP strengthened RC buildings under the near-fault ground motions. For this purpose, one ANN model is proposed to estimate the base shear force, base bending moments and roof displacement of buildings in two directions. A training set of 168 and a validation set of 21 buildings are produced from FEA analysis results of the dynamic response of RC buildings under the near-fault earthquakes. It is demonstrated that the neural network based approach is highly successful in determining the response.

Maximizing Sum-Rate for Multi-User Two-Way Relaying Networks with ANC Protocol

In this paper we study the resource allocation problem for an OFDMA based cooperative two-way relaying (TWR) network. We focus on amplify and forward (AF) analog network coding (ANC) protocol. An optimization problem for two basic resources namely, sub-carrier and power is formulated for multi-user TWR networks. A joint optimal optimization problem is investigated and two-step low complexity sub-optimal resource allocation algorithm is proposed for multi-user TWR networks with ANC protocol. The proposed algorithm has been evaluated in term of total achievable system sum-rate and achievable individual sum-rate for each userpair. The good tradeoff between system sum-rate and fairness is observed in the two-step proportional resource allocation scheme.

Allelopathic Effects of Sisymbrium irio L. and Descurainia sophia (L.) Schur on the Germination of Wheat (Triticum aestivum L.)

An experiment was conducted under controlled conditions to study the effect of water extract of leaves, shoots and roots of either Sisymbrium irio L. =SISIR and/or Descurainia sophia (L.) Schur =DESSO on the germination and primary growth of wheat. A split-split plot experiment in CRD with three replications was used. The main plots were the type of weed: i.e. SISIR and DESSO and the sub-plots were type of organ: i.e. leaf, stem and root and, the sub-sub plots were concentration of the water extract of each organ of the weeds: i.e. 0, 2, 4 and 8 % w/v. The plant materials were cut in 2-3 cm pieces and then were ground in a blender. The crushed materials were weighed according to experimental protocol and the final volume was reached to 100 ml in distilled water in dark bottles. All bottles were put on a shaker for 24 hours. The solutions were filtered by muslin cloth. Whatman paper, 9 cm in diameter, were put in petri dishes and twenty seeds of wheat were put on it and 5 ml distilled water or water extract of weeds were added to each petri dish. All petri dishes were put in constant temperature of 15 0C incubator. The results showed that the SISIR water extract had a greater inhibitory effects on germination and primary growth of wheat than those of DESSO water extract. The water extracts of the leaves of both weeds had the greatest inhibitory effects on germination and primary growth of wheat, compared to those of stems and roots. Increasing the concentration of water extract of leaves, stems and roots of both weeds up to 8 % caused the greatest inhibitory effects to wheat and reduced the germination rate and primary growth of it linearly.

Congo Red Photocatalytic Decolourization using Modified Titanium

A study concerning the photocatalytic decolourization of Congo red (CR) dye, over artificial UV irradiation is presented. Photocatalysts based on a commercial titanium dioxide (TiO2) modified with transition metals (Ni, Cu and Zn) were used. The dopage method used was wet impregnation. A TiO2 sample without salt was subjected to the same hydrothermal treatment to be used as reference. Congo red solutions to several pH conditions (natural and basic) were used to evaluate photocatalytic performance of each doped catalysts. Photodecolourization percentage was measured spectrofotrometically after 3 h of treatment to 499 nm as response variable. Kinetics investigations of photodegradation indicated that reactions obey to Langmuir-Hinshelwood model and pseudo–first order law. The rate constant studies of photocatalytic decolourization reactions for Zn–TiO2 and Cu–TiO2 photocatalysts indicated that in all cases the rate constant of the reaction was higher than that of TiO2 undoped. These results show that nature of the metal modifying the TiO2 influence on the efficiency of the photocatalyst evaluated in process. Ni does not present an additional effect compared with TiO2, while Zn enhances the photoactivity due to its electronic properties.

A New Application of Stochastic Transformation

In cryptography, confusion and diffusion are very important to get confidentiality and privacy of message in block ciphers and stream ciphers. There are two types of network to provide confusion and diffusion properties of message in block ciphers. They are Substitution- Permutation network (S-P network), and Feistel network. NLFS (Non-Linear feedback stream cipher) is a fast and secure stream cipher for software application. NLFS have two modes basic mode that is synchronous mode and self synchronous mode. Real random numbers are non-deterministic. R-box (random box) based on the dynamic properties and it performs the stochastic transformation of data that can be used effectively meet the challenges of information is protected from international destructive impacts. In this paper, a new implementation of stochastic transformation will be proposed.

Pseudo-Homogeneous Kinetic of Dilute-Acid Hydrolysis of Rice Huskfor Ethanol Production: Effect of Sugar Degradation

Rice husk is a lignocellulosic source that can be converted to ethanol. Three hundreds grams of rice husk was mixed with 1 L of 0.18 N sulfuric acid solutions then was heated in an autoclave. The reaction was expected to be at constant temperature (isothermal), but before that temperature was achieved, reaction has occurred. The first liquid sample was taken at temperature of 140 0C and repeated every 5 minute interval. So the data obtained are in the regions of non-isothermal and isothermal. It was observed that the degradation has significant effects on the ethanol production. The kinetic constants can be expressed by Arrhenius equation with the frequency factors for hydrolysis and sugar degradation of 1.58 x 105 min-1 and 2.29 x 108 L/mole-min, respectively, while the activation energies are 64,350 J/mole and 76,571 J/mole. The highest ethanol concentration from fermentation is 1.13% v/v, attained at 220 0C.

An Innovative Wireless Sensor Network Protocol Implementation using a Hybrid FPGA Technology

Traditional development of wireless sensor network mote is generally based on SoC1 platform. Such method of development faces three main drawbacks: lack of flexibility in terms of development due to low resource and rigid architecture of SoC; low capability of evolution and portability versus performance if specific micro-controller architecture features are used; and the rapid obsolescence of micro-controller comparing to the long lifetime of power plants or any industrial installations. To overcome these drawbacks, we have explored a new approach of development of wireless sensor network mote using a hybrid FPGA technology. The application of such approach is illustrated through the implementation of an innovative wireless sensor network protocol called OCARI.

The Relationship between the Disposition Effect and Herding Behavior: Evidence from Taiwan’s Information Technology Stocks

This study aims to explore the relationship between the disposition effect and herding behavior of investors trading Taiwanese information technology stocks. This study differs from previous literature in two aspects. First, in contrast with the earlier studies that focused on investigating investors’ herding behavior, this study explores the possibility that the disposition effect drives investors’ herding behavior. Additionally, it takes an in-depth look at the interdependence between the disposition effect and herding behavior of investors, including lead-lag relationship and volatility transmission effect. Empirical results show that investors trading Taiwan’s information technology stocks exhibit pronounced herding behavior and that the disposition effect has a great impact on their herding behavior.