Abstract: Built environments have a large impact on environmental sustainability and if it is not considered properly can negatively affect our planet. The application of transformable intelligent building systems that automatically respond to environmental conditions is one of the best ways that can intelligently assist us to create sustainable environment. The significance of this issue is evident as energy crisis and environmental changes has made the sustainability the main concerns in many societies. The aim of this research is to review and evaluate the importance and influence of transformable intelligent structure on the creation of sustainable architecture. Intelligent systems in current buildings provide convenience through automatically responding to changes in environmental conditions, reducing energy dissipation and increase of the lifecycle of buildings. This paper by analyzing significant intelligent building systems will evaluate the potentials of transformable intelligent systems in the creation of sustainable architecture and environment.
Abstract: This paper examines predictability in stock return in
developed and emergingmarkets by testing long memory in stock
returns using wavelet approach. Wavelet-based maximum likelihood
estimator of the fractional integration estimator is superior to the
conventional Hurst exponent and Geweke and Porter-Hudak
estimator in terms of asymptotic properties and mean squared error.
We use 4-year moving windows to estimate the fractional integration
parameter. Evidence suggests that stock return may not be predictable
indeveloped countries of the Asia-Pacificregion. However,
predictability of stock return insome developing countries in this
region such as Indonesia, Malaysia and Philippines may not be ruled
out. Stock return in the Thailand stock market appears to be not
predictable after the political crisis in 2008.
Abstract: There are three main ways of categorizing capital in banking operations: accounting, regulatory and economic capital. However, the 2008-2009 global crisis has shown that none of these categories adequately reflects the real risks of bank operations, especially in light of the failures Bear Stearns, Lehman Brothers or Northern Rock. This paper deals with the economic capital allocation of global banks. In theory, economic capital should reflect the real risks of a bank and should be publicly available. Yet, as discovered during the global financial crisis, even when economic capital information was publicly disclosed, the underlying assumptions rendered the information useless. Specifically, some global banks that reported relatively high levels of economic capital before the crisis went bankrupt or had to be bailed-out by their government. And, only 15 out of 50 global banks reported their economic capital during the 2007-2010 period. In this paper, we analyze the changes in reported bank economic capital disclosure during this period. We conclude that relative shares of credit and business risks increased in 2010 compared to 2007, while both operational and market risks decreased their shares on the total economic capital of top-rated global banks. Generally speaking, higher levels of disclosure and transparency of bank operations are required to obtain more confidence from stakeholders. Moreover, additional risks such as liquidity risks should be included in these disclosures.
Abstract: Groundwater is one of the most important water resources in Fars province. Based on this study, 95 percent of the total annual water consumption in Fars is used for agriculture, whereas the percentages for domestic and industrial uses are 4 and 1 percent, respectively. Population growth, urban and industrial growth, and agricultural development in Fars have created a condition of water stress. In this province, farmers and other users are pumping groundwater faster than its natural replenishment rate, causing a continuous drop in groundwater tables and depletion of this resource. In this research variation of groundwater level , their effects and ways to help control groundwater levels in some plains of Fars were evaluated .Excessive exploitation of groundwater in Darab, Jahrom, Estahban, Arsanjan, Khir and Niriz plains of Fars caused the groundwater levels fall too fast or to unacceptable levels. The average drawdown of the water table in Arsanjan, Khir. Estahban and Niriz plain plains were 12,8, 9 and 6 meters during 16,11,11 and 13 years ago respectively. This not only reduces available water resources and well yields but also can saline water intrusion, reductions in river flow and in wetland areas , drying springs, and ground subsidence, considerable increase in pumping costs and a significant decline in crop yields as a result of the increasing salinity. Finally based on situation and condition of the aquifer some suggestions are recommended.
Abstract: The effects of the transport sector on the environment are a well-recognized issue in the European Union and around the world. This area is a subject of much discussion as to how these negative effects could be minimized, especially with regards to impacts contributing to climate change. This paper aims to investigate the results of the economic crisis and how its consequences could be exploited to combat air pollution.
Abstract: In this paper, we proposed a new framework to incorporate an intelligent agent software robot into a crisis communication portal (CCNet) in order to send alert news to subscribed users via email and other mobile services such as Short Message Service (SMS), Multimedia Messaging Service (MMS) and General Packet Radio Services (GPRS). The content on the mobile services can be delivered either through mobile phone or Personal Digital Assistance (PDA). This research has shown that with our proposed framework, the embodied conversation agents system can handle questions intelligently with our multilayer architecture. At the same time, the extended framework can take care of delivery content through a more humanoid interface on mobile devices.
Abstract: The present paper aims to present the significant role that the concept of governance can play in order to combine naturals resources as useful funding basis for the formation of a stable and effective welfare state model. The combination of those two different fields aims to represent the modern trends of our era as the means to solve the severe financial and economic issues caused mostly due to the malfunction of the welfare state and its public sector. European Union and Asian countries (especially China) are the main areas of interest since EU experiences a fiscal and economic crisis while China rules the area of the natural resources exploiting 97% of rare earths elements worldwide.
Abstract: The paper structures research approaches to the crisis
and its management. It focuses on approaches – psychological,
sociological, economic, ethical and technological. Furthermore, it
describes the basic features of models chosen according to those
approaches. By their comparison it shows how the crisis influences
organizations and individuals, and their mutual interaction.
Abstract: Today, Higher Education in a global scope is subordinated to the greater institutional controls through the policies of the Quality of Education. These include processes of over evaluation of all the academic activities: students- and professors- performance, educational logistics, managerial standards for the administration of institutions of higher education, as well as the establishment of the imaginaries of excellence and prestige as the foundations on which universities of the XXI century will focus their present and future goals and interests. But at the same time higher education systems worldwide are facing the most profound crisis of sense and meaning and attending enormous mutations in their identity. Based in a qualitative research approach, this paper shows the social configurations that the scholars at the Universities in Mexico build around the discourse of the Quality of Education, and how these policies put in risk the social recognition of these individuals.
Abstract: This study examines causal link between energy use and economic growth for five South Asian countries over period 1971-2006. Panel cointegration, ECM and FMOLS are applied for short and long run estimates. In short run unidirectional causality from per capita GDP to per capita energy consumption is found, but not vice versa. In long run one percent increase in per capita energy consumption tend to decrease 0.13 percent per capita GDP. i.e. Energy use discourage economic growth. This short and long run relationship indicate energy shortage crisis in South Asia due to increased energy use coupled with insufficient energy supply. Beside this long run estimated coefficient of error term suggest that short term adjustment to equilibrium are driven by adjustment back to long run equilibrium. Moreover, per capita energy consumption is responsive to adjustment back to equilibrium and it takes 59 years approximately. It specifies long run feedback between both variables.
Abstract: This study employs a bivariate asymmetric GARCH
model to reveal the hidden dynamics price changes and volatility
among the emerging markets of Thailand and Malaysian after the
Asian financial crisis from January 2001 to December 2008. Our
results indicated that the equity markets are sharing the common
information (shock) that transmitted among each others. These
empirical findings are used to demonstrate the importance of shock
and volatility dynamic transmissions in the cross-market hedging and
market risk.
Abstract: As every system conceptions the concept of crisis is
based on the system of interdependent elements. These dialectic
elements occur in a majority of definitions even though called
differently. For further theoretical searching but also for practical
utilization it is necessary to understand these elements. The paper
stresses that the concept of crisis is ambiguous. There are identified
and explained the elements that are generally found in most crises
(disruption, precondition, triggers etc).
Abstract: Lack of resources for road infrastructure financing is a
problem that currently affects not only eastern European economies
but also many other countries especially in relation to the impact of
global financial crisis. In this context, we are talking about the socalled
short-investment problem as a result of long-term lack of
investment resources. Based on an analysis of road infrastructure
financing in the Czech Republic this article points out at weaknesses
of current system and proposes a long-term planning methodology
supported by system approach. Within this methodology and using
created system dynamic model the article predicts the development of
short-investment problem in the Country and in reaction on the
downward trend of certain sources the article presents various
scenarios resulting from the change of the structure of financial
sources. In the discussion the article focuses more closely on the
possibility of introduction of tax on vehicles instead of taxes with
declining revenue streams and estimates its approximate price in
relation to reaching various solutions of short-investment in time.
Abstract: This paper focuses on sovereign credit risk meaning a
hot topic related to the current Eurozone crisis. In the light of the
recent financial crisis, market perception of the creditworthiness of
individual sovereigns has changed significantly. Before the outbreak
of the financial crisis, market participants did not differentiate
between credit risk born by individual states despite different levels
of public indebtedness. In the proceeding of the financial crisis, the
market participants became aware of the worsening fiscal situation in
the European countries and started to discriminate among
government issuers. Concerns about the increasing sovereign risk
were reflected in surging sovereign risk premium. The main of this
paper is to shed light on the characteristics of the sovereign risk with
the special attention paid to the mutual relation between credit spread
and the CDS premium as the main measures of the sovereign risk
premium.
Abstract: Since the 1980s, banks and financial service institutions have been running in an endless race of innovation to cope with the advancing technology, the fierce competition, and the more sophisticated and demanding customers. In order to guide their innovation efforts, several researches were conducted to identify the success and failure factors of new financial services. These mainly included organizational factors, marketplace factors and new service development process factors. They almost all emphasized the importance of customer and market orientation as a response to the highly perceptual and intangible characteristics of financial services. However, they deemphasized the critical characteristics of high involvement of risk and close correlation with the economic conditions, a factor that heavily contributed to the Global financial Crisis of 2008. This paper reviews the success and failure factors of new financial services. It then adds new perspectives emerging from the analysis of the role of innovation in the global financial crisis.
Abstract: In this paper discrete choice models, Logit and Probit
are examined in order to predict the economic recession or expansion
periods in USA. Additionally we propose an adaptive neuro-fuzzy
inference system with triangular membership function. We examine
the in-sample period 1947-2005 and we test the models in the out-of
sample period 2006-2009. The forecasting results indicate that the
Adaptive Neuro-fuzzy Inference System (ANFIS) model outperforms
significant the Logit and Probit models in the out-of sample period.
This indicates that neuro-fuzzy model provides a better and more
reliable signal on whether or not a financial crisis will take place.
Abstract: Disordered function of maniphalanx and difficulty with
ambulation will occur insofar as a human has a failure in the spinal
marrow. Cervical spondylotic myelopathy as one of the myelopathy
emanates from not only external factors but also increased age. In
addition, the diacrisis is difficult since cervical spondylotic
myelopathy is evaluated by a doctor-s neurological remark and
imaging findings. As a quantitative method for measuring the degree
of disability, hand-operated triangle step test (for short, TST) has
formulated. In this research, a full automatic triangle step counter
apparatus is designed and developed to measure the degree of
disability in an accurate fashion according to the principle of TST. The
step counter apparatus whose shape is a low triangle pole displays the
number of stepping upon each corner. Furthermore, the apparatus has
two modes of operation. Namely, one is for measuring the degree of
disability and the other for rehabilitation exercise. In terms of
usefulness, clinical practice should be executed before too long.
Abstract: With the implied volatility as an important factor in
financial decision-making, in particular in option pricing valuation,
and also the given fact that the pricing biases of Leland option pricing
models and the implied volatility structure for the options are related,
this study considers examining the implied adjusted volatility smile
patterns and term structures in the S&P/ASX 200 index options using
the different Leland option pricing models. The examination of the
implied adjusted volatility smiles and term structures in the
Australian index options market covers the global financial crisis in
the mid-2007. The implied adjusted volatility was found to escalate
approximately triple the rate prior the crisis.
Abstract: The separation of dissolved gas including dissolved oxygen can be used in breathing for a human under water. When one is suddenly wrecked or meets a tsunami, one is instantly drowned and cannot breathe under water. To avoid this crisis, when we meet waves, the dissolved gas separated from water by wave is used, while air can be used to breathe when we are about to escape from water. In this thesis, we investigated the separation characteristics of dissolved gas using the pipe type of hollow fiber membrane with polypropylene and the nude type of one with polysulfone. The hollow fiber membranes with good characteristics under water are used to separate the dissolved gas. The hollow fiber membranes with good characteristics in an air are used to transfer air. The combination of membranes with good separation characteristics under water and good transferring one in an air is used to breathe instantly under water to be alive at crisis. These results showed that polypropylene represented better performance than polysulfone under both of air and water conditions.
Abstract: There are three distinct stages in the evolution of
economic thought, namely:
1. in the first stage, the major concern was to accelerate
economic growth with increased availability of material
goods, especially in developing economies with very low
living standards, because poverty eradication meant faster
economic growth.
2. in the second stage, economists made distinction between
growth and development. Development was seen as going
beyond economic growth, and bringing certain changes in
the structure of the economy with more equitable
distribution of the benefits of growth, with the growth
coming automatic and sustained.
3. the third stage is now reached. Our concern is now with
“sustainable development", that is, development not only
for the present but also of the future.
Thus the focus changed from “sustained growth" to “sustained
development". Sustained development brings to the fore the long
term relationship between the ecology and economic development.
Since the creation of UNEP in 1972 it has worked for
development without destruction for environmentally sound and
sustained development. It was realised that the environment cannot
be viewed in a vaccum, it is not separate from development, nor is it
competing. It suggested for the integration of the environment with
development whereby ecological factors enter development planning,
socio-economic policies, cost-benefit analysis, trade, technology
transfer, waste management, educational and other specific areas.
Industrialisation has contributed to the growth of economy of
several countries. It has improved the standards of living of its people
and provided benefits to the society. It has also created in the process
great environmental problems like climate change, forest destruction
and denudation, soil erosion and desertification etc.
On the other hand, industry has provided jobs and improved the
prospects of wealth for the industrialists. The working class
communities had to simply put up with the high levels of pollution in
order to keep up their jobs and also to save their income.
There are many roots of the environmental problem. They may be
political, economic, cultural and technological conditions of the
modern society. The experts concede that industrial growth lies
somewhere close to the heart of the matter. Therefore, the objective
of this paper is not to document all roots of an environmental crisis
but rather to discuss the effects of industrial growth and
development.
We have come to the conclusion that although public intervention
is often unnecessary to ensure that perfectly competitive markets will
function in society-s best interests, such intervention is necessary
when firms or consumers pollute.