Abstract: A new distance-adjusted approach is proposed in
which static square contours are defined around an estimated
symbol in a QAM constellation, which create regions that
correspond to fixed step sizes and weighting factors. As a
result, the equalizer tap adjustment consists of a linearly
weighted sum of adaptation criteria that is scaled by a variable
step size. This approach is the basis of two new algorithms: the
Variable step size Square Contour Algorithm (VSCA) and the
Variable step size Square Contour Decision-Directed
Algorithm (VSDA). The proposed schemes are compared with
existing blind equalization algorithms in the SCA family in
terms of convergence speed, constellation eye opening and
residual ISI suppression. Simulation results for 64-QAM
signaling over empirically derived microwave radio channels
confirm the efficacy of the proposed algorithms. An RTL
implementation of the blind adaptive equalizer based on the
proposed schemes is presented and the system is configured to
operate in VSCA error signal mode, for square QAM signals
up to 64-QAM.
Abstract: Throughout the world, the Islamic way of banking and
financing is increasing. The same trend is also visible in Pakistan, where the Islamic banking sector is increasing in size and volume
each year. The question immediately arises as why the Pakistanis patronize the Islamic banking system? This study was carried out to
find whether following the Islamic rules in finance is the main factor for such selection or whether other factors such as customer service,
location, banking hour, physical facilities of the bank etc also have
importance. The study was carried by distributing questionnaire and
200 responses were collected from the clients of Islamic banks. The result showed that the service quality and other factors are as
important as following the Islamic rules for finance to retain old ustomers and catch new customers. The result is important and
Islamic banks can take actions accordingly to look after both the factors
Abstract: Availability and mobilization of revenue is the main
essential with which an economy is managed and run. While
planning or while making the budgets nations set revenue targets to
be achieved. But later when the accounts are closed the actual
collections of revenue through taxes or even the non-tax revenue
collection would invariably be different as compared to the initial
estimates and targets set to be achieved. This revenue-gap distorts the
whole system and the economy disturbing all the major macroeconomic
indicators. This study is aimed to find out short and long
term impact of revenue gap on budget deficit, debt burden and
economic growth on the economy of Pakistan. For this purpose the
study uses autoregressive distributed lag approach to cointegration
and error correction mechanism on three different models for the
period 1980 to 2009. The empirical results show that revenue gap has
a short and long run relationship with economic growth and budget
deficit. However, revenue gap has no impact on debt burden.
Abstract: This paper presents parametric probability density
models for call holding times (CHTs) into emergency call center
based on the actual data collected for over a week in the public
Emergency Information Network (EIN) in Mongolia. When the set of
chosen candidates of Gamma distribution family is fitted to the call
holding time data, it is observed that the whole area in the CHT
empirical histogram is underestimated due to spikes of higher
probability and long tails of lower probability in the histogram.
Therefore, we provide the Gaussian parametric model of a mixture of
lognormal distributions with explicit analytical expressions for the
modeling of CHTs of PSNs. Finally, we show that the CHTs for
PSNs are fitted reasonably by a mixture of lognormal distributions
via the simulation of expectation maximization algorithm. This result
is significant as it expresses a useful mathematical tool in an explicit
manner of a mixture of lognormal distributions.
Abstract: When designing information systems that deal with
large amount of domain knowledge, system designers need to consider
ambiguities of labeling termsin domain vocabulary for navigating
users in the information space. The goal of this study is to develop a
methodology for system designers to label navigation items, taking
account of ambiguities stems from synonyms or polysemes of labeling
terms. In this paper, we propose a method for concept labeling based
on mappings between domain ontology andthesaurus, and report
results of an empirical evaluation.
Abstract: The major objective of this study is to understand the
potential of a newly fabricated equipment to study the thermal
properties of nonwoven textile fabrics treated with aerogel at subzero
temperatures. Thermal conductivity was calculated by using the
empirical relation Fourier’s law, The relationship between the
thermal conductivity and thermal resistance of the samples were
studied at various environmental temperatures (which was set in the
clima temperature system between +25oC to -25oC). The newly
fabricated equipment was found to be a suitable for measuring at
subzero temperatures. This field of measurements is being developed
and will be the subject of further research which will be more suitable
for measurement of the various thermal characteristics.
Abstract: An empirical linearly-hyperbolic approximation of the I - V characteristic of a solar cell is presented. This approximation is based on hyperbolic dependence of a current of p-n junctions on voltage for large currents. Such empirical approximation is compared with the early proposed formal linearly-hyperbolic approximation of a solar cell. The expressions defining laws of change of parameters of formal approximation at change of a photo current of family of characteristics are received. It allows simplifying a finding of parameters of approximation on actual curves, to specify their values. Analytical calculation of load regime for linearly - hyperbolic model leads to quadratic equation. Also, this model allows to define soundly a deviation from the maximum power regime and to compare efficiency of regimes of solar cells with different parameters.
Abstract: Underpricing is one anomaly in initial public offerings
(IPO) literature that has been widely observed across different stock
markets with different trends emerging over different time periods.
This study seeks to determine how IPOs on the JSE performed on the
first day, first week and first month over the period of 1996-2011.
Underpricing trends are documented for both hot and cold market
periods in terms of four main sectors (cyclical, defensive, growth
stock and interest rate sensitive stocks). Using a sample of 360 listed
companies on the JSE, the empirical findings established that IPOs
on the JSE are significantly underpriced with an average market
adjusted first day return of 62.9%. It is also established that hot
market IPOs on the JSE are more underpriced than the cold market
IPOs. Also observed is the fact that as the offer price per share
increases above the median price for any given period, the level of
underpricing decreases substantially. While significant differences
exist in the level of underpricing of IPOs in the four different sectors
in the hot and cold market periods, interest rates sensitive stocks
showed a different trend from the other sectors and thus require
further investigation to uncover this pattern.
Abstract: To improve the classification rate of the face
recognition, features combination and a novel non-linear kernel are
proposed. The feature vector concatenates three different radius of
local binary patterns and Gabor wavelet features. Gabor features are
the mean, standard deviation and the skew of each scaling and
orientation parameter. The aim of the new kernel is to incorporate
the power of the kernel methods with the optimal balance between
the features. To verify the effectiveness of the proposed method,
numerous methods are tested by using four datasets, which are
consisting of various emotions, orientations, configuration,
expressions and lighting conditions. Empirical results show the
superiority of the proposed technique when compared to other
methods.
Abstract: This paper presents results of empirical studies that were conducted in enterprises from Podkarpackie Voivodeship (Poland). It shows the experiences of those enterprises resulting from implementing and improving the eco-innovativeness management that is formal Environmental Management System (EMS). This study shows the expected and obtained internal benefits which are the effects of a functioning EMS. The aim of this paper is to determine whether the information included in international theoretical studies concerning the benefits of implementing, functioning and improving formal EMS (which is based on the international standard ISO 14001) are confirmed by the effects of the enterprises- activities.
Abstract: This study investigates the relationship between 10
year bond value, Yen/U.S dollar exchange rate, non-farm payrolls (all
employs) and crude oil to U.S. Dow Jones Sustainability Index. A
GARCH model is used to test these relationships for the period
January 1st 1999 to January 31st 2008 using monthly data. Results
show that an increase of the 10 year bond and non farm payrolls (all
employs) lead to an increase of the D.J.S.I returns. On the contrary
the volatility of the Yen/U.S dollar exchange rates as well as the
increase of crude oil returns has negative effects on the U.S D.J.S.I
returns. This study aims at assisting investors to understand the
influences certain macroeconomic indicators have on the companies-
stock returns as reported by the D.J.S.I.
Abstract: Measurement of competitiveness between countries or regions is an important topic of many economic analysis and scientific papers. In European Union (EU), there is no mainstream approach of competitiveness evaluation and measuring. There are many opinions and methods of measurement and evaluation of competitiveness between states or regions at national and European level. The methods differ in structure of using the indicators of competitiveness and ways of their processing. The aim of the paper is to analyze main sources of competitive potential of the EU Member States with the help of Factor analysis (FA) and to classify the EU Member States to homogeneous units (clusters) according to the similarity of selected indicators of competitiveness factors by Cluster analysis (CA) in reference years 2000 and 2011. The theoretical part of the paper is devoted to the fundamental bases of competitiveness and the methodology of FA and CA methods. The empirical part of the paper deals with the evaluation of competitiveness factors in the EU Member States and cluster comparison of evaluated countries by cluster analysis.
Abstract: Using data of listed Croatian firms from the Zagreb
Stock Exchange we analyze the relationship between firm ownership
(ownership concentration and type) and performance (ROA).
Empirical research was conducted for the period 2003-2010, yielding
with the total of 1,430 observations. Empirical findings based on
dynamic panel analysis indicate that ownership concentration
variable - CR4 is negatively related with performance, i.e. listed firms
with dispersed ownership perform better than firms with concentrated
ownership. Also, the research indicated that foreign controlled listed
firms perform better than domestically controlled firms. Majority
state owned firms perform worse than privately held firms but
dummy variable for privately controlled firms was not statistically
significant in the estimated panel model.
Abstract: This paper explores gender related barriers to interagency collaboration in statutory children safeguard partnerships against a theoretical framework that considers individuals, professions and organisations interacting as part of a complex adaptive system. We argue that gender-framed obstacles to effective communication between culturally discrepant agencies can ultimately impact on the effectiveness of policy delivery,. We focused our research on three partnership structures in Sefton Metropolitan Borough in order to observe how interactions occur, whether the agencies involved perceive their occupational environment as being gender affected and whether they believe this can hinder effective collaboration with other biased organisations. Our principal empirical findings indicate that there is a general awareness amongst professionals of the role that gender plays in each of the agencies reviewed, that gender may well constitute a barrier to effective communication, but there is a sense in which there is little scope for change in the short term. We aim to signal here, however, the need to change against the risk of service failure.
Abstract: This paper aims to present the main instruments used
in the economic literature for measuring the price risk, pointing out
on the advantages brought by the conditional variance in this respect.
The theoretical approach will be exemplified by elaborating an
EGARCH model for the price returns of wheat, both on Romanian
and on international market. To our knowledge, no previous
empirical research, either on price risk measurement for the
Romanian markets or studies that use the ARIMA-EGARCH
methodology, have been conducted. After estimating the
corresponding models, the paper will compare the estimated
conditional variance on the two markets.
Abstract: Bagging and boosting are among the most popular resampling ensemble methods that generate and combine a diversity of classifiers using the same learning algorithm for the base-classifiers. Boosting algorithms are considered stronger than bagging on noisefree data. However, there are strong empirical indications that bagging is much more robust than boosting in noisy settings. For this reason, in this work we built an ensemble using a voting methodology of bagging and boosting ensembles with 10 subclassifiers in each one. We performed a comparison with simple bagging and boosting ensembles with 25 sub-classifiers, as well as other well known combining methods, on standard benchmark datasets and the proposed technique was the most accurate.
Abstract: This paper is to explore the relationship and the level
of stock market integration of the Asian countries, primarily
concentrating on Malaysia, Thailand, Indonesia, and South Korea,
with the world from January 1997 to December 2009. The degree of
short-run and long-run stock market integration of those Asian
countries are analyzed in order to determine the significance of series
of regional and world financial crises, liberalization policies and
other financial reforms in influencing the level of stock market
integration. To test for cointegration, this paper applies coefficient
correlation, univariate regression analyses, cointegration tests, and
vector autoregressive models (VAR) by using the four Asian stock
markets main indices and the MSCI World index. The empirical
findings from this work reveal that there is no long-run stock market
integration for the four countries and the world market. However,
there is short run integration.
Abstract: The inability to implement the principles of good
corporate governance (GCG) as demonstrated in the surveys is due to
a number of constraints which can be classified into three; namely internal constraints, external constraints, and constraints coming
from the structure of ownership. The issues in the internal constraints
mentioned are related to the function of several elements of the company. As a business organization, corporation is unable to
achieve its goal to successfully implement GCG principles since it is
not support by its internal elements- functions. Two of several numbers of internal elements of a company are ethical work climate
and leadership style of the top management.
To prove the correlation between internal function of organization
(in this case ethical work climate and transformational leadership)
and the successful implementation of GCG principles, this study
proposes two hypotheses to be empirically tested on thirty surveyed organizations; eleven of which are state-owned companies and
nineteen are private companies. These thirty corporations are listed in
the Jakarta Stock Exchange. All state-owned companies in the
samples are those which have been privatized.
The research showed that internal function of organization give
support to the successful implementation of GCG principle. In this
research we can prove that : (i) ethical work climate has positive
significance of correlation with the successful implementation of
social awareness principle (one of principles on GCG) and, (ii) only
at the state-owned companies, transformational leadership have
positive significance effect to forming the ethical work climate.
Abstract: This study reports an empirical investigation of
fatigue crack initiation and propagation in 2024 T351 aluminium
alloy using constant amplitude loading. In initiation stage, local
strain approach at the notch was used and in stable propagation stage
NASGRO model was applied.
In this investigation, the flat plate of double through crack at hole
is used. Based on experimental results (AFGROW Database), effect
of stress ratio, R, is highlights on fatigue initiation life (FIL) and
fatigue crack growth rate (FCGR). The increasing of dimension of
hole characterizing the notch effect decrease the fatigue life.
Abstract: In this paper, we apply the FM methodology to the
cross-section of Romanian-listed common stocks and investigate the
explanatory power of market beta on the cross-section of commons
stock returns from Bucharest Stock Exchange. Various assumptions
are empirically tested, such us linearity, market efficiency, the “no
systematic effect of non-beta risk" hypothesis or the positive
expected risk-return trade-off hypothesis. We find that the Romanian
stock market shows the same properties as the other emerging
markets in terms of efficiency and significance of the linear riskreturn
models. Our analysis included weekly returns from January
2002 until May 2010 and the portfolio formation, estimation and
testing was performed in a rolling manner using 51 observations (one
year) for each stage of the analysis.