Abstract: Basel III (or the Third Basel Accord) is a global
regulatory standard on bank capital adequacy, stress testing and
market liquidity risk agreed upon by the members of the Basel
Committee on Banking Supervision in 2010-2011, and scheduled to
be introduced from 2013 until 2018. Basel III is a comprehensive set
of reform measures. These measures aim to; (1) improve the banking
sector-s ability to absorb shocks arising from financial and economic
stress, whatever the source, (2) improve risk management and
governance, (3) strengthen banks- transparency and disclosures.
Similarly the reform target; (1) bank level or micro-prudential,
regulation, which will help raise the resilience of individual banking
institutions to periods of stress. (2) Macro-prudential regulations,
system wide risk that can build up across the banking sector as well
as the pro-cyclical implication of these risks over time. These two
approaches to supervision are complementary as greater resilience at
the individual bank level reduces the risk system wide shocks.
Macroeconomic impact of Basel III; OECD estimates that the
medium-term impact of Basel III implementation on GDP growth is
in the range -0,05 percent to -0,15 percent per year. On the other hand
economic output is mainly affected by an increase in bank lending
spreads as banks pass a rise in banking funding costs, due to higher
capital requirements, to their customers. Consequently the estimated
effects on GDP growth assume no active response from monetary
policy. Basel III impact on economic output could be offset by a
reduction (or delayed increase) in monetary policy rates by about 30
to 80 basis points. The aim of this paper is to create a framework
based on the recent regulations in order to prevent financial crises.
Thus the need to overcome the global financial crisis will contribute
to financial crises that may occur in the future periods. In the first
part of the paper, the effects of the global crisis on the banking
system examine the concept of financial regulations. In the second
part; especially in the financial regulations and Basel III are analyzed.
The last section in this paper explored the possible consequences of
the macroeconomic impacts of Basel III.
Abstract: Tacit knowledge has been one of the most discussed
and contradictory concepts in the field of knowledge management
since the mid 1990s. The concept is used relatively vaguely to refer
to any type of information that is difficult to articulate, which has led
to discussions about the original meaning of the concept (adopted
from Polanyi-s philosophy) and the nature of tacit knowing. It is
proposed that the subject should be approached from the perspective
of cognitive science in order to connect tacit knowledge to
empirically studied cognitive phenomena. Some of the most
important examples of tacit knowing presented by Polanyi are
analyzed in order to trace the cognitive mechanisms of tacit knowing
and to promote better understanding of the nature of tacit knowledge.
The cognitive approach to Polanyi-s theory reveals that the
tacit/explicit typology of knowledge often presented in the
knowledge management literature is not only artificial but totally
opposite approach compared to Polanyi-s thinking.
Abstract: Rapid process of urbanism development has increased
the demand for some infrastructures such as supplying potable water,
electricity network and transportation facilities and etc. Nonefficiency
of the existing system with parallel managements of urban
traffic management has increased the gap between supply and
demand of traffic facilities. A sustainable transport system requires
some activities more important than air pollution control, traffic or
fuel consumption reduction and the studies show that there is no
unique solution for solving complicated transportation problems and
solving such a problem needs a comprehensive, dynamic and reliable
mechanism. Sustainable transport management considers the effects
of transportation development on economic efficiency, environmental
issues, resources consumption, land use and social justice and helps
reduction of environmental effects, increase of transportation system
efficiency as well as improvement of social life and aims to enhance
efficiency, goods transportation, provide services with minimum
access problems that cannot be realized without reorganization of
strategies, policies and plans.
Abstract: Money laundering has been described by many as the lifeblood of crime and is a major threat to the economic and social well-being of societies. It has been recognized that the banking system has long been the central element of money laundering. This is in part due to the complexity and confidentiality of the banking system itself. It is generally accepted that effective anti-money laundering (AML) measures adopted by banks will make it tougher for criminals to get their "dirty money" into the financial system. In fact, for law enforcement agencies, banks are considered to be an important source of valuable information for the detection of money laundering. However, from the banks- perspective, the main reason for their existence is to make as much profits as possible. Hence their cultural and commercial interests are totally distinct from that of the law enforcement authorities. Undoubtedly, AML laws create a major dilemma for banks as they produce a significant shift in the way banks interact with their customers. Furthermore, the implementation of the laws not only creates significant compliance problems for banks, but also has the potential to adversely affect the operations of banks. As such, it is legitimate to ask whether these laws are effective in preventing money launderers from using banks, or whether they simply put an unreasonable burden on banks and their customers. This paper attempts to address these issues and analyze them against the background of the Malaysian AML laws. It must be said that effective coordination between AML regulator and the banking industry is vital to minimize problems faced by the banks and thereby to ensure effective implementation of the laws in combating money laundering.
Abstract: We present a novel scheme to evaluate sinusoidal functions with low complexity and high precision using cubic spline interpolation. To this end, two different approaches are proposed to find the interpolating polynomial of sin(x) within the range [- π , π]. The first one deals with only a single data point while the other with two to keep the realization cost as low as possible. An approximation error optimization technique for cubic spline interpolation is introduced next and is shown to increase the interpolator accuracy without increasing complexity of the associated hardware. The architectures for the proposed approaches are also developed, which exhibit flexibility of implementation with low power requirement.
Abstract: The National Agricultural Biotechnology Information
Center (NABIC) plays a leading role in the biotechnology information
database for agricultural plants in Korea. Since 2002, we have
concentrated on functional genomics of major crops, building an
integrated biotechnology database for agro-biotech information that
focuses on bioinformatics of major agricultural resources such as rice,
Chinese cabbage, and microorganisms. In the NABIC,
integration-based biotechnology database provides useful information
through a user-friendly web interface that allows analysis of genome
infrastructure, multiple plants, microbial resources, and living
modified organisms.
Abstract: An immunomodulator bioproduct is prepared in a
batch bioprocess with a modified bacterium Pseudomonas
aeruginosa. The bioprocess is performed in 100 L Bioengineering
bioreactor with 42 L cultivation medium made of peptone, meat
extract and sodium chloride. The optimal bioprocess parameters were
determined: temperature – 37 0C, agitation speed - 300 rpm, aeration
rate – 40 L/min, pressure – 0.5 bar, Dow Corning Antifoam M-max.
4 % of the medium volume, duration - 6 hours. This kind of
bioprocesses are appreciated as difficult to control because their
dynamic behavior is highly nonlinear and time varying. The aim of
the paper is to present (by comparison) different models based on
experimental data.
The analysis criteria were modeling error and convergence rate.
The estimated values and the modeling analysis were done by using
the Table Curve 2D.
The preliminary conclusions indicate Andrews-s model with a
maximum specific growth rate of the bacterium in the range of
0.8 h-1.
Abstract: Developing a stable early warning system (EWS)
model that is capable to give an accurate prediction is a challenging
task. This paper introduces k-nearest neighbour (k-NN) method
which never been applied in predicting currency crisis before with the
aim of increasing the prediction accuracy. The proposed k-NN
performance depends on the choice of a distance that is used where in
our analysis; we take the Euclidean distance and the Manhattan as a
consideration. For the comparison, we employ three other methods
which are logistic regression analysis (logit), back-propagation neural
network (NN) and sequential minimal optimization (SMO). The
analysis using datasets from 8 countries and 13 macro-economic
indicators for each country shows that the proposed k-NN method
with k = 4 and Manhattan distance performs better than the other
methods.
Abstract: The ever growing sentiment of environmentalism across the globe has made many people think on the green lines. But most of such ideas halt short of implementation because of the short term economic viability issues with the concept of going green. In this paper we have tried to amalgamate the green concept with social entrepreneurship for solving a variety of issues faced by the society today. In addition the paper also tries to ensure that the short term economic viability does not act as a deterrent. The paper comes up three sustainable models of social entrepreneurship which tackle a wide assortment of issues such as nutrition problem, land problems, pollution problems and employment problems. The models described fall under the following heads: - Spirulina cultivation: The model addresses nutrition, land and employment issues. It deals with cultivation of a blue green alga called Spirulina which can be used as a very nutritious food. Also, the implementation of this model would bring forth employment to the poor people of the area. - Biocomposites: The model comes up with various avenues in which biocomposites can be used in an economically sustainable manner. This model deals with the environmental concerns and addresses the depletion of natural resources. - Packaging material from empty fruit bunches (EFB) of oil palm: This one deals with air and land pollution. It is intended to be a substitute for packaging materials made from Styrofoam and plastics which are non-biodegradable. It takes care of the biodegradability and land pollution issues. It also reduces air pollution as the empty fruit bunches are not incinerated. All the three models are sustainable and do not deplete the natural resources any further. This paper explains each of the models in detail and deals with the operational/manufacturing procedures and cost analysis while also throwing light on the benefits derived and sustainability aspects.
Abstract: Latvia is the fourth in the world by means of broadband internet speed. The total number of internet users in Latvia exceeds 70% of its population. The number of active mailboxes of the local internet e-mail service Inbox.lv accounts for 68% of the population and 97.6% of the total number of internet users. The Latvian portal Draugiem.lv is a phenomenon of social media, because 58.4 % of the population and 83.5% of internet users use it. A majority of Latvian company profiles are available on social networks, the most popular being Twitter.com. These and other parameters prove the fact consumers and companies are actively using the Internet.
However, after the authors in a number of studies analyzed how enterprises are employing the e-environment, namely, e-environment tools, they arrived to the conclusions that are not as flattering as the aforementioned statistics. There is an obvious contradiction between the statistical data and the actual studies. As a result, the authors have posed a question: Why are entrepreneurs resistant to e-tools? In order to answer this question, the authors have addressed the Technology Acceptance Model (TAM). The authors analyzed each phase and determined several factors affecting the use of e-environment, reaching the main conclusion that entrepreneurs do not have a sufficient level of e-literacy (digital literacy).
The authors employ well-established quantitative and qualitative methods of research: grouping, analysis, statistic method, factor analysis in SPSS 20 environment etc.
The theoretical and methodological background of the research is formed by, scientific researches and publications, that from the mass media and professional literature, statistical information from legal institutions as well as information collected by the author during the survey.
Abstract: The paper deals with the analysis of triggering
conditions and evolution processes of piping phenomena, in relation
to both mechanical and hydraulic aspects. In particular, the aim of
the study is to predict slope instabilities triggered by piping,
analysing the conditions necessary for a flow failure to occur. Really,
the mechanical effect involved in the loads redistribution around the
pipe is coupled to the drainage process arising from higher
permeability of the pipe. If after the pipe formation, the drainage
goes prevented for pipe clogging, the porewater pressure increase can
lead to the failure or even the liquefaction, with a subsequent flow
slide. To simulate the piping evolution and to verify relevant stability
conditions, a iterative coupled modelling approach has been pointed
out. As example, the proposed tool has been applied to the Stava
Valley disaster (July, 1985), demonstrating that piping might be one
of triggering phenomena of the tailings dams collapse.
Abstract: Sports Sciences has been historically supported by the positivism idea of science, especially by the mechanistic/reductionist and becomes a field that views experimentation and measurement as the mayor research domains. The disposition to simplify nature and the world by parts has fragmented and reduced the idea of bodyathletes as machine. In this paper we intent to re-think this perception lined by Complexity Theory. We come with the idea of athletes as a reflexive and active being (corporeity-body). Therefore, the construction of a training that considers the cultural, biological, psychological elements regarding the experience of the human corporal movements in a circumspect and responsible way could bring better chances of accomplishment. In the end, we hope to help coaches understand the intrinsic complexity of the body they are training, how better deal with it, and, in the field of a deep globalization among the different types of knowledge, to respect and accepted the peculiarities of knowledge that comprise this area.
Abstract: This paper reports work done to improve the modeling of complex processes when only small experimental data sets are available. Neural networks are used to capture the nonlinear underlying phenomena contained in the data set and to partly eliminate the burden of having to specify completely the structure of the model. Two different types of neural networks were used for the application of Pulping of Sugar Maple problem. A three layer feed forward neural networks, using the Preconditioned Conjugate Gradient (PCG) methods were used in this investigation. Preconditioning is a method to improve convergence by lowering the condition number and increasing the eigenvalues clustering. The idea is to solve the modified problem where M is a positive-definite preconditioner that is closely related to A. We mainly focused on Preconditioned Conjugate Gradient- based training methods which originated from optimization theory, namely Preconditioned Conjugate Gradient with Fletcher-Reeves Update (PCGF), Preconditioned Conjugate Gradient with Polak-Ribiere Update (PCGP) and Preconditioned Conjugate Gradient with Powell-Beale Restarts (PCGB). The behavior of the PCG methods in the simulations proved to be robust against phenomenon such as oscillations due to large step size.
Abstract: Product customization is an essential requirement for
manufacturing firms to achieve higher customers- satisfaction and
fulfill business target. In order to achieve these objectives, firms need
to handle both external varieties such as customer preference,
government regulations, cultural considerations etc and internal
varieties such as functional requirements of product, production
efficiency, quality etc. Both of the varieties need to be accumulated
and integrated together for the purpose of producing customized
product. These varieties are presented and discussed in this paper
along with the perspectives of modular product design and
development process. Other development strategies such as
modularity, component commonality, product family design and
product platform are presented with a view to achieve product variety
quickly and economically. A case example both for the concept of
modular design and platform based product development process is
also presented with the help of design structure matrix (DSM) tool.
This paper is concluded with several managerial implications and
future research direction.
Abstract: The article deals with the problems of political and
economic processes in Kazakhstan since independence in the context
of globalization. It analyzes the geopolitical situation and selfpositioning
processes in the world after the end of the "cold war". It
examines the problems of internal economization of the Republic for
20 years of independence. The authors argue that the reforms
proceeded in the economic sphere have brought ambiguous and
tangible results. Despite the difficult economic and political conditions
facing a world economical crisis the country has undergone
fundamental and radical transformations in the whole socio-economic
system
Abstract: The new idea of analyze of power system failure with
use of artificial neural network is proposed. An analysis of the
possibility of simulating phenomena accompanying system faults and
restitution is described. It was indicated that the universal model for
the simulation of phenomena in whole analyzed range does not exist.
The main classic method of search of optimal structure and
parameter identification are described shortly. The example with
results of calculation is shown.
Abstract: The objective of this research is to study the technical
and economic performance of wind/diesel/battery (W/D/B) system
supplying a remote small gathering of six families using HOMER
software package. The electrical energy is to cater for the basic needs
for which the daily load pattern is estimated. Net Present Cost (NPC)
and Cost of Energy (COE) are used as economic criteria, while the measure of performance is % of power shortage. Technical and
economic parameters are defined to estimate the feasibility of the
system under study. Optimum system configurations are estimated for two sites. Using HOMER software, the simulation results showed that W/D/B systems are economical for the assumed community sites
as the price of generated electricity is about 0.308 $/kWh, without
taking external benefits into considerations. W/D/B systems are more
economical than W/B or diesel alone systems, as the COE is 0.86 $/kWh for W/B and 0.357 $/kWh for diesel alone.
Abstract: Semantic Web Technologies enable machines to
interpret data published in a machine-interpretable form on the web.
At the present time, only human beings are able to understand the
product information published online. The emerging semantic Web
technologies have the potential to deeply influence the further
development of the Internet Economy. In this paper we propose a
scenario based research approach to predict the effects of these new
technologies on electronic markets and business models of traders
and intermediaries and customers. Over 300 million searches are
conducted everyday on the Internet by people trying to find what
they need. A majority of these searches are in the domain of
consumer ecommerce, where a web user is looking for something to
buy. This represents a huge cost in terms of people hours and an
enormous drain of resources. Agent enabled semantic search will
have a dramatic impact on the precision of these searches. It will
reduce and possibly eliminate information asymmetry where a better
informed buyer gets the best value. By impacting this key
determinant of market prices semantic web will foster the evolution
of different business and economic models. We submit that there is a
need for developing these futuristic models based on our current
understanding of e-commerce models and nascent semantic web
technologies. We believe these business models will encourage
mainstream web developers and businesses to join the “semantic web
revolution."
Abstract: Fake finger submission attack is a major problem in fingerprint recognition systems. In this paper, we introduce an aliveness detection method based on multiple static features, which derived from a single fingerprint image. The static features are comprised of individual pore spacing, residual noise and several first order statistics. Specifically, correlation filter is adopted to address individual pore spacing. The multiple static features are useful to reflect the physiological and statistical characteristics of live and fake fingerprint. The classification can be made by calculating the liveness scores from each feature and fusing the scores through a classifier. In our dataset, we compare nine classifiers and the best classification rate at 85% is attained by using a Reduced Multivariate Polynomial classifier. Our approach is faster and more convenient for aliveness check for field applications.
Abstract: Socioeconomic stability and development of a
country, can be describe by housing affordability. It is aimed to
ensure the housing provided as one of the key factors that is
affordable by every income earner group whether low-income,
middle income and high income group. This research carried out is to
find out affordability of home ownership level for first medium cost
landed-house by the middle-income group in Selangor, Malaysia. It is
also hope that it could be seen as able to contribute to the knowledge
and understanding on housing affordability level for the middleincome
group and variables that influenced the medium income
group-s ability to own first medium-cost houses.