Information Transmission between Large and Small Stocks in the Korean Stock Market

Little attention has been paid to information transmission between the portfolios of large stocks and small stocks in the Korean stock market. This study investigates the return and volatility transmission mechanisms between large and small stocks in the Korea Exchange (KRX). This study also explores whether bad news in the large stock market leads to a volatility of the small stock market that is larger than the good news volatility of the large stock market. By employing the Granger causality test, we found unidirectional return transmissions from the large stocks to medium and small stocks. This evidence indicates that pat information about the large stocks has a better ability to predict the returns of the medium and small stocks in the Korean stock market. Moreover, by using the asymmetric GARCH-BEKK model, we observed the unidirectional relationship of asymmetric volatility transmission from large stocks to the medium and small stocks. This finding suggests that volatility in the medium and small stocks following a negative shock in the large stocks is larger than that following a positive shock in the large stocks.

Studying Implication of Globalization on Engineering Education

The primary purpose of this article is an attempt to find the implication of globalization on education. Globalization has an important role as a process in the economical, political, cultural and technological dimensions in the life of the contemporary human being and has been affected by it. Education has its effects in this procedure and while influencing it through educating global citizens having universal human features and characteristics, has been influenced by this phenomenon too. Nowadays, the role of education is not just to develop in the students the knowledge and skills necessary for the new kinds of jobs. If education wants to help students be prepared of the new global society, it has to make them engaged productive and critical citizens for the global era, so that they can reflect about their roles as key actors in a dynamic often uneven, matrix of economic and cultural exchanges. If education wants to reinforce and raise the national identity, the value system and the children and teenagers, it should make them ready for living in the global era of this century. The used method in this research is documentary and analyzing the documents. Studies in this field show globalization has influences on the processes of the production, distribution and consuming of knowledge. The happening of this event in the information era has not only provide the necessary opportunities for the exchanges of education worldwide but also has privileges for the developing countries which enables them to strengthen educational bases of their society and have an important step toward their future.

Prioritizing Influential Factors on the Promotion of Virtual Training System

In today's world where everything is rapidly changing and information technology is high in development, many features of culture, society, politic and economy has changed. The advent of information technology and electronic data transmission lead to easy communication and fields like e-learning and e-commerce, are accessible for everyone easily. One of these technologies is virtual training. The "quality" of such kind of education systems is critical. 131 questionnaires were prepared and distributed among university student in Toba University. So the research has followed factors that affect the quality of learning from the perspective of staff, students, professors and this type of university. It is concluded that the important factors in virtual training are the quality of professors, the quality of staff, and the quality of the university. These mentioned factors were the most prior factors in this education system and necessary for improving virtual training.

PI Control for Positive Output Elementary Super Lift Luo Converter

The object of this paper is to design and analyze a proportional – integral (PI) control for positive output elementary super lift Luo converter (POESLLC), which is the start-of-the-art DC-DC converter. The positive output elementary super lift Luo converter performs the voltage conversion from positive source voltage to positive load voltage. This paper proposes a development of PI control capable of providing the good static and dynamic performance compared to proportional – integralderivative (PID) controller. Using state space average method derives the dynamic equations describing the positive output elementary super lift luo converter and PI control is designed. The simulation model of the positive output elementary super lift Luo converter with its control circuit is implemented in Matlab/Simulink. The PI control for positive output elementary super lift Luo converter is tested for transient region, line changes, load changes, steady state region and also for components variations.

Determination of Chemical Oxygen Demand in Spent Caustic by Potentiometric Determination

Measurement of the COD of a spent caustic solution involves firstly digestion of a test sample with dichromate solution and secondly measurement of dichromate remained by titration by ferrous ammonium sulfate [FAS] to an end point. In this paper we study by a potentiometric end point with Ag/AgCl reference electrode and gold rode electrode. The potentiometric end point is sharp and easily identified especially for the samples with high turbidity and color that other methods such as colorimetric in this type of sample do not result in high precision. Because interim of titration responds quickly to potential changes within the [Cr+6/Cr+3& Fe+2/Fe+3] solution producing stable readings that is lead to accurate COD measurement. Finally results are compared with data determined using colorimetric method for standard samples. It is shown that the potentiometric end point titration with gold rode electrode can be used with equal or better facility

Deniable Authentication Protocol Resisting Man-in-the-Middle Attack

Deniable authentication is a new protocol which not only enables a receiver to identify the source of a received message but also prevents a third party from identifying the source of the message. The proposed protocol in this paper makes use of bilinear pairings over elliptic curves, as well as the Diffie-Hellman key exchange protocol. Besides the security properties shared with previous authentication protocols, the proposed protocol provides the same level of security with smaller public key sizes.

A Study of Panel Logit Model and Adaptive Neuro-Fuzzy Inference System in the Prediction of Financial Distress Periods

The purpose of this paper is to present two different approaches of financial distress pre-warning models appropriate for risk supervisors, investors and policy makers. We examine a sample of the financial institutions and electronic companies of Taiwan Security Exchange (TSE) market from 2002 through 2008. We present a binary logistic regression with paned data analysis. With the pooled binary logistic regression we build a model including more variables in the regression than with random effects, while the in-sample and out-sample forecasting performance is higher in random effects estimation than in pooled regression. On the other hand we estimate an Adaptive Neuro-Fuzzy Inference System (ANFIS) with Gaussian and Generalized Bell (Gbell) functions and we find that ANFIS outperforms significant Logit regressions in both in-sample and out-of-sample periods, indicating that ANFIS is a more appropriate tool for financial risk managers and for the economic policy makers in central banks and national statistical services.

Modeling of Fluid Flow in 2D Triangular, Sinusoidal, and Square Corrugated Channels

The main focus of the work was concerned with hydrodynamic and thermal analysis of the plate heat exchanger channel with corrugation patterns suggested to be triangular, sinusoidal, and square corrugation. This study was to numerically model and validate the triangular corrugated channel with dimensions/parameters taken from open literature, and then model/analyze both sinusoidal, and square corrugated channel referred to the triangular model. Initially, 2D modeling with local extensive analysis for triangular corrugated channel was carried out. By that, all local pressure drop, wall shear stress, friction factor, static temperature, heat flux, Nusselt number, and surface heat coefficient, were analyzed to interpret the hydrodynamic and thermal phenomena occurred in the flow. Furthermore, in order to facilitate confidence in this model, a comparison between the values predicted, and experimental results taken from literature for almost the same case, was done. Moreover, a holistic numerical study for sinusoidal and square channels together with global comparisons with triangular corrugation under the same condition, were handled. Later, a comparison between electric, and fluid cooling through varying the boundary condition was achieved. The constant wall temperature and constant wall heat flux boundary conditions were employed, and the different resulted Nusselt numbers as a consequence were justified. The results obtained can be used to come up with an optimal design, a 'compromise' between heat transfer and pressure drop.

A Remote Sensing Approach for Vulnerability and Environmental Change in Apodi Valley Region, Northeast Brazil

The objective of this study was to improve our understanding of vulnerability and environmental change; it's causes basically show the intensity, its distribution and human-environment effect on the ecosystem in the Apodi Valley Region, This paper is identify, assess and classify vulnerability and environmental change in the Apodi valley region using a combined approach of landscape pattern and ecosystem sensitivity. Models were developed using the following five thematic layers: Geology, geomorphology, soil, vegetation and land use/cover, by means of a Geographical Information Systems (GIS)-based on hydro-geophysical parameters. In spite of the data problems and shortcomings, using ESRI-s ArcGIS 9.3 program, the vulnerability score, to classify, weight and combine a number of 15 separate land cover classes to create a single indicator provides a reliable measure of differences (6 classes) among regions and communities that are exposed to similar ranges of hazards. Indeed, the ongoing and active development of vulnerability concepts and methods have already produced some tools to help overcome common issues, such as acting in a context of high uncertainties, taking into account the dynamics and spatial scale of asocial-ecological system, or gathering viewpoints from different sciences to combine human and impact-based approaches. Based on this assessment, this paper proposes concrete perspectives and possibilities to benefit from existing commonalities in the construction and application of assessment tools.

Computing Center Conditions for Non-analytic Vector Fields with Constant Angular Speed

We investigate the planar quasi-septic non-analytic systems which have a center-focus equilibrium at the origin and whose angular speed is constant. The system could be changed into an analytic system by two transformations, with the help of computer algebra system MATHEMATICA, the conditions of uniform isochronous center are obtained.

Securing Message in Wireless Sensor Network by using New Method of Code Conversions

Recently, wireless sensor networks have been paid more interest, are widely used in a lot of commercial and military applications, and may be deployed in critical scenarios (e.g. when a malfunctioning network results in danger to human life or great financial loss). Such networks must be protected against human intrusion by using the secret keys to encrypt the exchange messages between communicating nodes. Both the symmetric and asymmetric methods have their own drawbacks for use in key management. Thus, we avoid the weakness of these two cryptosystems and make use of their advantages to establish a secure environment by developing the new method for encryption depending on the idea of code conversion. The code conversion-s equations are used as the key for designing the proposed system based on the basics of logic gate-s principals. Using our security architecture, we show how to reduce significant attacks on wireless sensor networks.

Influence of Temperature Variations on Calibrated Cameras

The camera parameters are changed due to temperature variations, which directly influence calibrated cameras accuracy. Robustness of calibration methods were measured and their accuracy was tested. An error ratio due to camera parameters change with respect to total error originated during calibration process was determined. It pointed out that influence of temperature variations decrease by increasing distance of observed objects from cameras.

Selective Encryption using ISMA Cryp in Real Time Video Streaming of H.264/AVC for DVB-H Application

Multimedia information availability has increased dramatically with the advent of video broadcasting on handheld devices. But with this availability comes problems of maintaining the security of information that is displayed in public. ISMA Encryption and Authentication (ISMACryp) is one of the chosen technologies for service protection in DVB-H (Digital Video Broadcasting- Handheld), the TV system for portable handheld devices. The ISMACryp is encoded with H.264/AVC (advanced video coding), while leaving all structural data as it is. Two modes of ISMACryp are available; the CTR mode (Counter type) and CBC mode (Cipher Block Chaining) mode. Both modes of ISMACryp are based on 128- bit AES algorithm. AES algorithms are more complex and require larger time for execution which is not suitable for real time application like live TV. The proposed system aims to gain a deep understanding of video data security on multimedia technologies and to provide security for real time video applications using selective encryption for H.264/AVC. Five level of security proposed in this paper based on the content of NAL unit in Baseline Constrain profile of H.264/AVC. The selective encryption in different levels provides encryption of intra-prediction mode, residue data, inter-prediction mode or motion vectors only. Experimental results shown in this paper described that fifth level which is ISMACryp provide higher level of security with more encryption time and the one level provide lower level of security by encrypting only motion vectors with lower execution time without compromise on compression and quality of visual content. This encryption scheme with compression process with low cost, and keeps the file format unchanged with some direct operations supported. Simulation was being carried out in Matlab.

Investigating the Precipitation and Temperature Change Procedure in Zayanderood Watershed

Global warming and continental changes have been one of the people's issues in the recent years and its consequences have appeared in the most parts of the earth planet or will appear in the future. Temperature and Precipitation are two main parameters in climatology. Any changes in these two parameters in this region cause widespread changes in the ecosystem and its natural and humanistic structure. One of the important consequences of this procedure is change in surface and underground water resources. Zayanderood watershed basin which is the main central river in Iran has faced water shortage in the recent years and also it has resulted in drought in Gavkhuni swamp and the river itself. Managers and experts in provinces which are the Zayanderood water consumers believe that global warming; raining decrease and continental changes are the main reason of water decrease. By statistical investigation of annual Precipitation and 46 years temperature of internal and external areas of Zayanderood watershed basin's stations and by using Kendal-man method, Precipitation and temperature procedure changes have been analyzed in this basin. According to obtained results, there was not any noticeable decrease or increase procedure in Precipitation and annual temperature in the basin during this period. However, regarding to Precipitation, a noticeable decrease and increase have been observed in small part of western and some parts of eastern and southern basin, respectively. Furthermore, the investigation of annual temperature procedure has shown that a noticeable increase has been observed in some parts of western and eastern basin, and also a noticeable increasing procedure of temperature in the central parts of metropolitan Esfahan can be observed.

Change Detector Combination in Remotely Sensed Images Using Fuzzy Integral

Decision fusion is one of hot research topics in classification area, which aims to achieve the best possible performance for the task at hand. In this paper, we investigate the usefulness of this concept to improve change detection accuracy in remote sensing. Thereby, outputs of two fuzzy change detectors based respectively on simultaneous and comparative analysis of multitemporal data are fused by using fuzzy integral operators. This method fuses the objective evidences produced by the change detectors with respect to fuzzy measures that express the difference of performance between them. The proposed fusion framework is evaluated in comparison with some ordinary fuzzy aggregation operators. Experiments carried out on two SPOT images showed that the fuzzy integral was the best performing. It improves the change detection accuracy while attempting to equalize the accuracy rate in both change and no change classes.

Electoral Violence in Africa: Experience from Ethiopia

It is impossible to think about democracy without elections. The litmus test of any electoral process in any country is the possibility of a one time minority to become a majority at another time and a peaceful transition of power. In many countries in Sub-Saharan Africa though the multi-party elections appeared to be competitive they failed the acid test of democracy: peaceful regime change in a free and fair election. Failure to solve electoral disputes might lead to bloody electoral conflicts as witnessed in many emerging democracies in Africa. The aim of this paper is to investigate electoral conflicts in Africa since the end of the Cold War by using the 2005 post-election violence in Ethiopia as a case study. In Ethiopia, the coming to power of the EPRDF in 1991 marked the fall of the Derg dictatorial military government and the beginning of a multi-party democracy. The country held multi-party parliamentary elections in 1995, 2000, and 2005 where the ruling EPRDF party “won" the elections through violence, involving intimidation, manipulation, detentions of political opponents, torture, and political assassinations. The 2005 electoral violence was the worst electoral violence in the country-s political history that led to the death of 193 protestors and the imprisonment of more than 40, 000 people. It is found out that the major causes of the 2005 Ethiopian election were the defeat of the ruling party in the election and its attempt to reverse the poll results by force; the Opposition-s lack of decisive leadership; the absence of independent courts and independent electoral management body; and the ruling party-s direct control over the army and police.

The Same or Not the Same - On the Variety of Mechanisms of Path Dependence

In association with path dependence, researchers often talk of institutional “lock-in", thereby indicating that far-reaching path deviation or path departure are to be regarded as exceptional cases. This article submits the alleged general inclination for stability of path-dependent processes to a critical review. The different reasons for path dependence found in the literature indicate that different continuity-ensuring mechanisms are at work when people talk about path dependence (“increasing returns", complementarity, sequences etc.). As these mechanisms are susceptible to fundamental change in different ways and to different degrees, the path dependence concept alone is of only limited explanatory value. It is therefore indispensable to identify the underlying continuity-ensuring mechanism as well if a statement-s empirical value is to go beyond the trivial, always true “history matters".

Working Capital Management, Firms- Performance and Market Valuation in Nigeria

This study examines the impact of working capital management on firms- performance and market value of the firms in Nigeria. A sample of fifty four non-financial quoted firms in Nigeria listed on the Nigeria Stock Exchange was used for this study. Data were collected from annual reports of the sampled firms for the period 1995-2009. This result shows there is a significant negative relationship between cash conversion cycle and market valuation and firm-s performance. It also shows that debt ratio is positively related to market valuation and negatively related firm-s performance. The findings confirm that there is a significant relationship between Market valuation, profitability and working capital component in line with previous studies. This mean that Nigeria firms should ensure adequate management of working capital especially cash conversion cycle components of account receivables, account payables and inventories, as efficiency working capital management is expected to contribute positively to the firms- market value.

Air Conditioning Energy Saving by Rooftop Greenery System in Subtropical Climate in Australia

The benefits of rooftop greenery systems (such as energy savings, reduction of greenhouse gas emission for mitigating climate change and maintaining sustainable development, indoor temperature control etc.) in buildings are well recognized, however there remains very little research conducted for quantifying the benefits in subtropical climates such as in Australia. This study mainly focuses on measuring/determining temperature profile and air conditioning energy savings by implementing rooftop greenery systems in subtropical Central Queensland in Australia. An experimental set-up was installed at Rockhampton campus of Central Queensland University, where two standard shipping containers (6m x 2.4m x 2.4m) were converted into small offices, one with green roof and one without. These were used for temperature, humidity and energy consumption data collection. The study found that an energy savings of up to 11.70% and temperature difference of up to 4°C can be achieved in March in subtropical Central Queensland climate in Australia. It is expected that more energy can be saved in peak summer days (December/February) as temperature difference between green roof and non-green roof is higher in December- February.

Are Economic Crises and Government Changes Related? A Descriptive Statistic Analysis

The main purpose of this study is to provide a detailed statistical overview of the time and regional distribution, relative timing occurrence of economic crises and government changes in 51 economies over the 1990–2007 periods. At the same time, the predictive power of the economic crises on set government changes will be examined using “signal approach". The result showed that the percentage of government changes is highest in transition economies (86 percent of observations) and lowest in Latin American economies (39 percent of observations). The percentages of government changes are same in both developed and developing countries (43 percent of observations). However, average crises per year (frequency of crises) are higher (lower) in developing (developed) countries than developed (developing) countries. Also, the predictive power of economic crises about the onset of a government change is highest in Transition economies (81 percent) and lowest in Latin American countries (30 percent). The predictive power of economic crises in developing countries (43 percent) is lower than developed countries (55 percent).