Abstract: Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.
Abstract: This experiment was conducted in attempt of
improving hydrodynamic efficiency of the propulsion mechanism by
installing a spring to the wing so that the opening angle of the wing in
one stroke can be changed automatically, compared to the existing
method of fixed maximum opening angle in Weis-Fogh type ship
propulsion mechanism. Average thrust coefficient was almost fixed
with all velocity ratio with the prototype, but with the spring type,
thrust coefficient increased sharply as velocity ratio increased.
Average propulsive efficiency was larger with bigger opening angle in
the prototype, but in the spring type, the one with smaller spring
coefficient had larger value. In the range over 1.0 in velocity ratio
where big thrust can be generated, spring type had more than twice of
propulsive efficiency increase compared to the prototype.
Abstract: This study experimentally and numerically investigates
motor cooling performance. The motor consists of a centrifugal fan,
two axial fans, a shaft, a stator, a rotor and a heat exchanger with 637
cooling tubes. The pressure rise-flow rate (P-Q) performance curves of
the cooling fans at 1800 rpm are tested using a test apparatus
complying with the Chinese National Standard (CNS) 2726.
Compared with the experimental measurements, the numerical
analysis results show that the P-Q performance curves of the axial fan
and centrifugal fan can be estimated within about 2% and 6%,
respectively. By using the simplified model, setting up the heat
exchanger and stator as porous media, the flow field in the motor is
calculated. By using the results of the flow field near the rotor and
stator, and subjecting the heat generation rate as a boundary condition,
the temperature distributions of the stator and rotor are also calculated.
The simulation results show that the calculated temperature of the
stator winding near the axial fans is lower by about 5% than the
measured value, and the calculated temperature of the stator core
located at the center of the stator is about 1% higher than the measured
value. Besides, discussion is made to improve the motor cooling
performance.
Abstract: Clean air in subway station is important to passengers. The Platform Screen Doors (PSDs) can improve indoor air quality in the subway station; however the air quality in the subway tunnel is degraded. The subway tunnel has high CO2 concentration and indoor particulate matter (PM) value. The Indoor Air Quality (IAQ) level in subway environment degrades by increasing the frequency of the train operation and the number of the train. The ventilation systems of the subway tunnel need improvements to have better air-quality. Numerical analyses might be effective tools to analyze the performance of subway twin-track tunnel ventilation systems. An existing subway twin-track tunnel in the metropolitan Seoul subway system is chosen for the numerical simulations. The ANSYS CFX software is used for unsteady computations of the airflow inside the twin-track tunnel when the train moves. The airflow inside the tunnel is simulated when one train runs and two trains run at the same time in the tunnel. The piston-effect inside the tunnel is analyzed when all shafts function as the natural ventilation shaft. The supplied air through the shafts is mixed with the pollutant air in the tunnel. The pollutant air is exhausted by the mechanical ventilation shafts. The supplied and discharged airs are balanced when only one train runs in the twin-track tunnel. The pollutant air in the tunnel is high when two trains run simultaneously in opposite direction and all shafts functioned as the natural shaft cases when there are no electrical power supplies in the shafts. The remained pollutant air inside the tunnel enters into the station platform when the doors are opened.
Abstract: It is sometimes difficult to differentiate between
innocent murmurs and pathological murmurs during auscultation. In
these difficult cases, an intelligent stethoscope with decision support
abilities would be of great value. In this study, using a dog model,
phonocardiographic recordings were obtained from 27 boxer dogs
with various degrees of aortic stenosis (AS) severity. As a reference
for severity assessment, continuous wave Doppler was used. The data
were analyzed with recurrence quantification analysis (RQA) with
the aim to find features able to distinguish innocent murmurs from
murmurs caused by AS. Four out of eight investigated RQA features
showed significant differences between innocent murmurs and
pathological murmurs. Using a plain linear discriminant analysis
classifier, the best pair of features (recurrence rate and entropy)
resulted in a sensitivity of 90% and a specificity of 88%. In
conclusion, RQA provide valid features which can be used for
differentiation between innocent murmurs and murmurs caused by
AS.
Abstract: In order to calculate the flexural strength of
normal-strength concrete (NSC) beams, the nonlinear actual concrete
stress distribution within the compression zone is normally replaced
by an equivalent rectangular stress block, with two coefficients of α
and β to regulate the intensity and depth of the equivalent stress
respectively. For NSC beams design, α and β are usually assumed
constant as 0.85 and 0.80 in reinforced concrete (RC) codes. From an
earlier investigation of the authors, α is not a constant but significantly
affected by flexural strain gradient, and increases with the increasing
of strain gradient till a maximum value. It indicates that larger
concrete stress can be developed in flexure than that stipulated by
design codes. As an extension and application of the authors- previous
study, the modified equivalent concrete stress block is used here to
produce a series of design charts showing the maximum design limits
of flexural strength and ductility of singly- and doubly- NSC beams,
through which both strength and ductility design limits are improved
by taking into account strain gradient effect.
Abstract: With the proliferation of mobile computing technology, mobile learning (m-learning) will play a vital role in the rapidly growing electronic learning market. However, the acceptance of m-learning by individuals is critical to the successful implementation of m-learning systems. Thus, there is a need to research the factors that affect users- intention to use m-learning. Based on an updated information system (IS) success model, data collected from 350 respondents in Taiwan were tested against the research model using the structural equation modeling approach. The data collected by questionnaire were analyzed to check the validity of constructs. Then hypotheses describing the relationships between the identified constructs and users- satisfaction were formulated and tested.
Abstract: Electromyography (EMG) signal processing has been investigated remarkably regarding various applications such as in rehabilitation systems. Specifically, wavelet transform has served as a powerful technique to scrutinize EMG signals since wavelet transform is consistent with the nature of EMG as a non-stationary signal. In this paper, the efficiency of wavelet transform in surface EMG feature extraction is investigated from four levels of wavelet decomposition and a comparative study between different mother wavelets had been done. To recognize the best function and level of wavelet analysis, two evaluation criteria, scatter plot and RES index are recruited. Hereupon, four wavelet families, namely, Daubechies, Coiflets, Symlets and Biorthogonal are studied in wavelet decomposition stage. Consequently, the results show that only features from first and second level of wavelet decomposition yields good performance and some functions of various wavelet families can lead to an improvement in separability class of different hand movements.
Abstract: A real time distributed computing has
heterogeneously networked computers to solve a single problem. So
coordination of activities among computers is a complex task and
deadlines make more complex. The performances depend on many
factors such as traffic workloads, database system architecture,
underlying processors, disks speeds, etc. Simulation study have been
performed to analyze the performance under different transaction
scheduling: different workloads, arrival rate, priority policies,
altering slack factors and Preemptive Policy. The performance metric
of the experiments is missed percent that is the percentage of
transaction that the system is unable to complete. The throughput of
the system is depends on the arrival rate of transaction. The
performance can be enhanced with altering the slack factor value.
Working on slack value for the transaction can helps to avoid some
of transactions from killing or aborts. Under the Preemptive Policy,
many extra executions of new transactions can be carried out.
Abstract: CT assessment of postoperative spine is challenging in the presence of metal streak artifacts that could deteriorate the
quality of CT images. In this paper, we studied the influence of different acquisition parameters on the magnitude of metal streaking.
A water-bath phantom was constructed with metal insertion similar with postoperative spine assessment. The phantom was scanned with
different acquisition settings and acquired data were reconstructed
using various reconstruction settings. Standardized ROIs were defined within streaking region for image analysis. The result shows
increased kVp and mAs enhanced SNR values by reducing image
noise. Sharper kernel enhanced image quality compared to smooth
kernel, but produced more noise in the images with higher CT fluctuation. The noise between both kernels were significantly
different (P
Abstract: Experimental study on the influence of fibre content
on crack behaviour and propagation in synthetic-fibre reinforced
beams has been reported in this paper. The tensile behaviour of
metallic fibre concrete is evaluated in terms of residual flexural
tensile strength values determined from the load-crack mouth
opening displacement curve or load-deflection curve obtained by
applying a centre-point load on a simply supported notched prism.
The results achieved demonstrate that an increase in fibre content has
an almost negligible effect on compressive and tensile splitting
properties, causes a marginal increment in flexural tensile strength
and increasesthe Re3 value.
Abstract: The fuzzy technique is an operator introduced in order
to simulate at a mathematical level the compensatory behavior in
process of decision making or subjective evaluation. The following
paper introduces such operators on hand of computer vision
application.
In this paper a novel method based on fuzzy logic reasoning
strategy is proposed for edge detection in digital images without
determining the threshold value. The proposed approach begins by
segmenting the images into regions using floating 3x3 binary matrix.
The edge pixels are mapped to a range of values distinct from each
other. The robustness of the proposed method results for different
captured images are compared to those obtained with the linear Sobel
operator. It is gave a permanent effect in the lines smoothness and
straightness for the straight lines and good roundness for the curved
lines. In the same time the corners get sharper and can be defined
easily.
Abstract: Transferring information developed by other peoples is an ordinary event that happens during daily conversations, for example when employees sea each other in the organization, or when they are having lunch together, or attending a meeting, they use to talk about their experience, and discuss about their current projects, and talk about their successes over some specific problems. Despite the potential value of leveraging organizational memory and expertise by using OMS and ER, still small organizations haven-t been able to capitalize on its promised value. Each organization has its internal knowledge management system, in some of organizations the system face the lack of expert people to save their experience in the repository and in another hand on some other organizations there are lots of expert people but the organization doesn-t have the maximum use of their knowledge.
Abstract: From year to year, the incidence of different diseases is increasing in humans, and the cause is inadequate intake of dietary fibre, vitamins, and minerals. One of the possibilities to take care of your health preventively is including in the diet products with increased dietary fibre, vitamin, and mineral content.Jerusalem artichoke powder (JAP) made from Jerusalem artichoke (Helianthus tuberosus L) roots is a valuable product. By adding it to pastry goods, we can obtain a fibre-rich food that could be healthier and an excellent alternative to the classical pastry products of this kind.Experiments were carried out at the Faculty of Food Technology of Latvia University of Agriculture (LLU). Results of experiments showed that addition of Jerusalem artichoke powder has significant impact on all the studied pastry products nutritional value (p
Abstract: Recently, content delivery services have grown rapidly
over the Internet. For ASPs (Application Service Provider) providing
content delivery services, P2P architecture is beneficial to reduce
outgoing traffic from content servers. On the other hand, ISPs are
suffering from the increase in P2P traffic. The P2P traffic is
unnecessarily redundant because the same content or the same
fractions of content are transferred through an inter-ISP link several
times. Subscriber ISPs have to pay a transit fee to upstream ISPs based
on the volume of inter-ISP traffic. In order to solve such problems,
several works have been done for the purpose of P2P traffic reduction.
However, these existing works cannot control the traffic volume of a
certain link. In order to solve such an ISP-s operational requirement,
we propose a method to control traffic volume for a link within a
preconfigured upper bound value. We evaluated that the proposed
method works well by conducting a simulation on a 1,000-user scale.
We confirm that the traffic volume could be controlled at a lower level
than the upper bound for all evaluated conditions. Moreover, our
method could control the traffic volume at 98.95% link usage against
the target value.
Abstract: We have investigated the effect of piezoelectric (PZ)
polarization property in binary as well as in ternary wurtzite nitrides.
It is found that with the presence of PZ polarization property, the
phonon group velocity is modified. The change in phonon group
velocity due to PZ polarization effect directly depends on
piezoelectric tensor value. Using different piezoelectric tensor values
recommended by different workers in the literature, percent change in
group velocities of phonons has been estimated. The Debye
temperatures and frequencies of binary nitrides GaN, AlN and InN
are also calculated using the modified group velocities. For ternary
nitrides AlxGa(1-x)N, InxGa(1-x)N and InxAl(1-x)N, the phonon group
velocities have been calculated as a functions of composition. A
small positive bowing is observed in phonon group velocities of
ternary alloys. Percent variations in phonon group velocities are also
calculated for a straightforward comparison among ternary nitrides.
The results are expected to show a change in phonon relaxation rates
and thermal conductivity of III-nitrides when piezoelectric
polarization property is taken into consideration.
Abstract: An attempt has been made to determine the strength
and impact properties of Cr-Mo steel weld and base materials by
varying the current during manual metal arc welding. Toughness over
a temperature range from -32 to 100°C of base, heat affected zone
(HAZ) and weld zones at three current settings are made. It is
observed that the deterioration in notch toughness at any zone with
the temperature decreases. The values of notch toughness for all
zones at -32°C are almost same for any current settings. The values
of notch toughness at HAZ area are higher than that of weld area due
to the coarsening of ferrite grain of HAZ occurs with higher heat
input. From microhardness and microstructure result, it can be
concluded that large inclusion content in weld deposit is the cause of
lower notch toughness value.
Abstract: This study aims to clarify constructions which enable to improve socio-cultural values of environments and also to obtain new knowledge on selecting development plans. CVM is adopted as a method of evaluation. As a case of the research, university campus (CP; the following) is selected on account of its various environments, institutions and many users. Investigations were conducted from 4 points of view, total value and utility value of whole CP environments, values of each environment existing in CP or development plan assumed in CP. Furthermore, respondents- attributes were also investigated. In consequence, the following is obtained. 1) Almost all of total value of CP is composed of utility value of direct use. 2) Each of environment and development plans whose value is the highest is clarified. 3) Moreover, development plan to improve environmental value the most is specified.
Abstract: This paper present a MATLAB-SIMULINK model of a single phase 2.5 KVA, 240V RMS controlled PV VSI (Photovoltaic Voltage Source Inverter) inverter using IGBTs (Insulated Gate Bipolar Transistor). The behavior of output voltage, output current, and the total harmonic distortion (THD), with the variation in input dc blocking capacitor (Cdc), for linear and non-linear load has been analyzed. The values of Cdc as suggested by the other authors in their papers are not clearly defined and it poses difficulty in selecting the proper value. As the dc power stored in Cdc, (generally placed parallel with battery) is used as input to the VSI inverter. The simulation results shows the variation in the output voltage and current with different values of Cdc for linear and non-linear load connected at the output side of PV VSI inverter and suggest the selection of suitable value of Cdc.
Abstract: In this paper, a nonlinear delay population model is investigated. Choosing the delay as a bifurcation parameter, we demonstrate that Hopf bifurcation will occur when the delay exceeds a critical value. Global existence of bifurcating periodic solutions is established. Numerical simulations supporting the theoretical findings are included.