Abstract: This study aims at providing empirical evidence on a
comparison of two equity valuation models: (1) the dividend discount
model (DDM) and (2) the residual income model (RIM), in
estimating equity values of Thai firms during 1995-2004. Results
suggest that DDM and RIM underestimate equity values of Thai
firms and that RIM outperforms DDM in predicting cross-sectional
stock prices. Results on regression of cross-sectional stock prices on
the decomposed DDM and RIM equity values indicate that book
value of equity provides the greatest incremental explanatory power,
relative to other components in DDM and RIM terminal values,
suggesting that book value distortions resulting from accounting
procedures and choices are less severe than forecast and
measurement errors in discount rates and growth rates.
We also document that the incremental explanatory power of book
value of equity during 1998-2004, representing the information
environment under Thai Accounting Standards reformed after the
1997 economic crisis to conform to International Accounting
Standards, is significantly greater than that during 1995-1996,
representing the information environment under the pre-reformed
Thai Accounting Standards. This implies that the book value
distortions are less severe under the 1997 Reformed Thai Accounting
Standards than the pre-reformed Thai Accounting Standards.
Abstract: The present work represents an investigation of the
hydrolysis of hull-less pumpkin (Cucurbita Pepo L.) oil cake protein
isolate (PuOC PI) by pepsin. To examine the effectiveness and
suitability of pepsin towards PuOC PI the kinetic parameters for
pepsin on PuOC PI were determined and then, the hydrolysis process
was studied using Response Surface Methodology (RSM). The
hydrolysis was carried out at temperature of 30°C and pH 3.00. Time
and initial enzyme/substrate ratio (E/S) at three levels were selected
as the independent parameters. The degree of hydrolysis, DH, was
mesuared after 20, 30 and 40 minutes, at initial E/S of 0.7, 1 and 1.3
mA/mg proteins. Since the proposed second-order polynomial model
showed good fit with the experimental data (R2 = 0.9822), the
obtained mathematical model could be used for monitoring the
hydrolysis of PuOC PI by pepsin, under studied experimental
conditions, varying the time and initial E/S. To achieve the highest
value of DH (39.13 %), the obtained optimum conditions for time
and initial E/S were 30 min and 1.024 mA/mg proteins.
Abstract: e-mail has become an important means of electronic
communication but the viability of its usage is marred by Unsolicited
Bulk e-mail (UBE) messages. UBE consists of many types
like pornographic, virus infected and 'cry-for-help' messages as well
as fake and fraudulent offers for jobs, winnings and medicines. UBE
poses technical and socio-economic challenges to usage of e-mails.
To meet this challenge and combat this menace, we need to
understand UBE. Towards this end, the current paper presents a
content-based textual analysis of nearly 3000 winnings-announcing
UBE. Technically, this is an application of Text Parsing and
Tokenization for an un-structured textual document and we approach
it using Bag Of Words (BOW) and Vector Space Document Model
techniques. We have attempted to identify the most frequently
occurring lexis in the winnings-announcing UBE documents. The
analysis of such top 100 lexis is also presented. We exhibit the
relationship between occurrence of a word from the identified lexisset
in the given UBE and the probability that the given UBE will be
the one announcing fake winnings. To the best of our knowledge and
survey of related literature, this is the first formal attempt for
identification of most frequently occurring lexis in winningsannouncing
UBE by its textual analysis. Finally, this is a sincere
attempt to bring about alertness against and mitigate the threat of
such luring but fake UBE.
Abstract: Sustainable development is one of the most debated
issues, recently. In terms of providing more livable Earth continuity,
while Production activities are going on, on the other hand protecting
the environment has importance. As a strategy for sustainable
development, eco-innovation is the application of innovations to
reduce environmental burdens. Endeavors to understand ecoinnovation
processes have been affected from environmental
economics and innovation economics from neoclassical economics,
and evolutionary economics other than neoclassical economics. In
the light of case study analyses, this study aims to display activities
in this field through case studies after explaining the theoretical
framework of eco-innovations. This study consists of five sections
including introduction and conclusion. In the second part of the study
identifications of the concepts related with eco-innovation are
described and eco-innovations are classified. Third section considers
neoclassical and evolutionary approaches from neoclassical
economics and evolutionary economics, respectively. Fourth section
gives the case studies of successful eco-innovations. Last section is
the conclusion part and offers suggestions for future eco-innovation
research according to the theoretical framework and the case studies.
Abstract: Earth reinforcing techniques have become useful and economical to solve problems related to difficult grounds and provide satisfactory foundation performance. In this context, this paper uses radial basis function neural network (RBFNN) for predicting the bearing pressure of strip footing on reinforced granular bed overlying weak soil. The inputs for the neural network models included plate width, thickness of granular bed and number of layers of reinforcements, settlement ratio, water content, dry density, cohesion and angle of friction. The results indicated that RBFNN model exhibited more than 84 % prediction accuracy, thereby demonstrating its application in a geotechnical problem.
Abstract: This paper details the application of a genetic
programming framework for induction of useful classification rules
from a database of income statements, balance sheets, and cash flow
statements for North American public companies. Potentially
interesting classification rules are discovered. Anomalies in the
discovery process merit further investigation of the application of
genetic programming to the dataset for the problem domain.
Abstract: This paper presents the application of an enhanced
Particle Swarm Optimization (EPSO) combined with Gaussian
Mutation (GM) for solving the Dynamic Economic Dispatch (DED)
problem considering the operating constraints of generators. The
EPSO consists of the standard PSO and a modified heuristic search
approaches. Namely, the ability of the traditional PSO is enhanced
by applying the modified heuristic search approach to prevent the
solutions from violating the constraints. In addition, Gaussian
Mutation is aimed at increasing the diversity of global search, whilst
it also prevents being trapped in suboptimal points during search. To
illustrate its efficiency and effectiveness, the developed EPSO-GM
approach is tested on the 3-unit and 10-unit 24-hour systems
considering valve-point effect. From the experimental results, it can
be concluded that the proposed EPSO-GM provides, the accurate
solution, the efficiency, and the feature of robust computation
compared with other algorithms under consideration.
Abstract: Yield and Crop Water Productivity are crucial issues
in sustainable agriculture, especially in high-demand resource crops such as sweet corn. This study was conducted to investigate
agronomic responses such as plant growth, yield and soil parameters (EC and Nitrate accumulation) to several deficit irrigation treatments
(100, 75, 50, 25 and 0% of ETm) applied during vegetative growth
stage, rainfed treatment was also tested.
The finding of this research indicates that under deficit irrigation
during vegetative growth stage applying 75% of ETm lead to increasing of 19.4% in terms of fresh ear yield, 9.4% in terms of dry grain yield, 10.5% in terms of number of ears per plant, 11.5% for
the 1000 grains weight and 19% in terms of crop water productivity compared with fully irrigated treatment. While those parameters in
addition to root, shoot and plant height has been affected by deficit
irrigation during vegetative growth stage when increasing water stress degree more than 50% of ETm.
Abstract: The Economic factors are leading to the rise of
infrastructures provides software and computing facilities as a
service, known as cloud services or cloud computing. Cloud services
can provide efficiencies for application providers, both by limiting
up-front capital expenses, and by reducing the cost of ownership over
time. Such services are made available in a data center, using shared
commodity hardware for computation and storage. There is a varied
set of cloud services available today, including application services
(salesforce.com), storage services (Amazon S3), compute services
(Google App Engine, Amazon EC2) and data services (Amazon
SimpleDB, Microsoft SQL Server Data Services, Google-s Data
store). These services represent a variety of reformations of data
management architectures, and more are on the horizon.
Abstract: Obesity is frequent attendant phenomenon of patients
with endocrinological disease. Between BMI and endocrinological
diseases is close correlation. In thesis we focused on the allocation of
hormone concentration – PTH and TSH, CHOL a mineral element Ca
in a blood serum. The examined group was formed by 100
respondents (women) aged 36 – 83 years, who were divided into two
groups – control group (CG), group with diagnosed endocrine disease
(DED). The concentration of PTH and TSH, Ca and CHOL was
measured through the medium of analyzers Cobas e411 (Japan);
Cobas Integra 400 (Switzerland). At individuals was measured body
weight as well as stature and thereupon from those data we
enumerated BMI. On the basis of Student T-test in biochemical
parameter of PTH and Ca we found out significantly meaningful
difference (p
Abstract: Different methods containing biometric algorithms are
presented for the representation of eigenfaces detection including
face recognition, are identification and verification. Our theme of this
research is to manage the critical processing stages (accuracy, speed,
security and monitoring) of face activities with the flexibility of
searching and edit the secure authorized database. In this paper we
implement different techniques such as eigenfaces vector reduction
by using texture and shape vector phenomenon for complexity
removal, while density matching score with Face Boundary Fixation
(FBF) extracted the most likelihood characteristics in this media
processing contents. We examine the development and performance
efficiency of the database by applying our creative algorithms in both
recognition and detection phenomenon. Our results show the
performance accuracy and security gain with better achievement than
a number of previous approaches in all the above processes in an
encouraging mode.
Abstract: The concept of flexible manufacturing is highly
appealing in gaining a competitive edge in the market by quickly
adapting to the changing customer needs. Scheduling jobs on flexible
manufacturing systems (FMSs) is a challenging task of managing the
available flexibility on the shop floor to react to the dynamics of the
environment in real-time. In this paper, an agent-oriented scheduling
framework that can be integrated with a real or a simulated FMS is
proposed. This framework works in stochastic environments with a
dynamic model of job arrival. It supports a hierarchical cooperative
scheduling that builds on the available flexibility of the shop floor.
Testing the framework on a model of a real FMS showed the
capability of the proposed approach to overcome the drawbacks of
the conventional approaches and maintain a near optimal solution
despite the dynamics of the operational environment.
Abstract: Many non-conventional adsorbent have been studied
as economic alternative to commercial activated carbon and mostly
agricultural waste have been introduced such as rubber leaf powder
and hazelnut shell. Microwave Incinerated Rice Husk Ash
(MIRHA), produced from the rice husk is one of the low-cost
materials that were used as adsorbent of heavy metal. The aim of
this research was to study the feasibility of using MIRHA500 and
MIRHA800 as adsorbent for the removal of Cu(II) metal ions from
aqueous solutions by the batch studies. The adsorption of Cu(II) into
MIRHA500 and MIRH800 favors Fruendlich isotherm and imply
pseudo – kinetic second order which applied chemisorptions
Abstract: Climate change is one of the greatest environmental,
economic, and social challenges of our time. Urban transportation has
had a major negative impact on our environment—most of our air
pollution comes from transport.
This paper explores ways to move toward a more sustainable
transport system by focusing on creating a more efficient and livable
city and improving the environmental efficiency of transport activity.
The analytical study covers some international examples of applying
sustainable transportation and uses them to suggest a frame work to
develop the transportation system in Egypt to be sustainable and more
intelligent.
Abstract: This paper evaluates the association between
economic environment in the districts of Madrid (Spain) and physical
inactivity, using income per capita as indicator of economic
environment. The analysis included 6,601 individuals aged 16 to 74
years. The measure of association estimated was the prevalence odds
ratio for physical inactivity by income per capita. After adjusting for
sex, age, and individual socioeconomic characteristics, people living
in the districts with the lowest per capita income had an odds ratio for
physical inactivity 1.58 times higher (95% confidence interval 1.35 to
1.85) than those living in districts with the highest per capita income.
Additional adjustment for the availability of sports facilities in each
district did not decrease the magnitude of the association. These
findings show that the widely believed assumption that the
availability of sports and recreational facilities, as a possible
explanation for the relation between economic environment and
physical inactivity, cannot be considered a universal observation.
Abstract: The direct discharge of palm oil mill effluent (POME) wastewater causes serious environmental pollution due to its high chemical oxygen demand (COD) and biochemical oxygen demand (BOD). Traditional ways for POME treatment have both economical and environmental disadvantages. In this study, a membrane anaerobic system (MAS) was used as an alternative, cost effective method for treating POME. Six steady states were attained as a part of a kinetic study that considered concentration ranges of 8,220 to 15,400 mg/l for mixed liquor suspended solids (MLSS) and 6,329 to 13,244 mg/l for mixed liquor volatile suspended solids (MLVSS). Kinetic equations from Monod, Contois and Chen & Hashimoto were employed to describe the kinetics of POME treatment at organic loading rates ranging from 2 to 13 kg COD/m3/d. throughout the experiment, the removal efficiency of COD was from 94.8 to 96.5% with hydraulic retention time, HRT from 400.6 to 5.7 days. The growth yield coefficient, Y was found to be 0.62gVSS/g COD the specific microorganism decay rate was 0.21 d-1 and the methane gas yield production rate was between 0.25 l/g COD/d and 0.58 l/g COD/d. Steady state influent COD concentrations increased from 18,302 mg/l in the first steady state to 43,500 mg/l in the sixth steady state. The minimum solids retention time, which was obtained from the three kinetic models ranged from 5 to 12.3 days. The k values were in the range of 0.35 – 0.519 g COD/ g VSS • d and values were between 0.26 and 0.379 d-1. The solids retention time (SRT) decreased from 800 days to 11.6 days. The complete treatment reduced the COD content to 2279 mg/l equivalent to a reduction of 94.8% reduction from the original.
Abstract: Electric vehicles are considered as technology which
can significantly reduce the problems related to road transport such
as increasing GHG emissions, air pollutions and energy import
dependency.
The core objective of this paper is to analyze the current energetic,
ecological and economic characteristics of different types of electric
vehicles.
The major conclusions of this analysis are: The high investments
cost are the major barrier for broad market breakthrough of battery
electric vehicles and fuel cell vehicles. For battery electric vehicles
also the limited driving range states a key obstacle. The analyzed
hybrids could in principle serve as a bridging technology. However,
due to their tank-to-wheel emissions they cannot state a proper
solution for urban areas.
Finally, the most important perception is that also battery electric
vehicles and fuel cell vehicles are environmentally benign solution if
the primary fuel source is renewable.
Abstract: In many data mining applications, it is a priori known
that the target function should satisfy certain constraints imposed
by, for example, economic theory or a human-decision maker. In this
paper we consider partially monotone prediction problems, where the
target variable depends monotonically on some of the input variables
but not on all. We propose a novel method to construct prediction
models, where monotone dependences with respect to some of
the input variables are preserved by virtue of construction. Our
method belongs to the class of mixture models. The basic idea is to
convolute monotone neural networks with weight (kernel) functions
to make predictions. By using simulation and real case studies,
we demonstrate the application of our method. To obtain sound
assessment for the performance of our approach, we use standard
neural networks with weight decay and partially monotone linear
models as benchmark methods for comparison. The results show that
our approach outperforms partially monotone linear models in terms
of accuracy. Furthermore, the incorporation of partial monotonicity
constraints not only leads to models that are in accordance with the
decision maker's expertise, but also reduces considerably the model
variance in comparison to standard neural networks with weight
decay.
Abstract: Imperfect knowledge cannot be avoided all the time. Imperfections may have several forms; uncertainties, imprecision and incompleteness. When we look to classification of methods for the management of imperfect knowledge we see fuzzy set-based techniques. The choice of a method to process data is linked to the choice of knowledge representation, which can be numerical, symbolic, logical or semantic and it depends on the nature of the problem to be solved for example decision support, which will be mentioned in our study. Fuzzy Logic is used for its ability to manage imprecise knowledge, but it can take advantage of the ability of neural networks to learn coefficients or functions. Such an association of methods is typical of so-called soft computing. In this study a new method was used for the management of imprecision for collected knowledge which related to economic analysis of construction industry in Turkey. Because of sudden changes occurring in economic factors decrease competition strength of construction companies. The better evaluation of these changes in economical factors in view of construction industry will made positive influence on company-s decisions which are dealing construction.
Abstract: This paper characterizes the effects of artificial short
term aging in the laboratory on the rheological properties of virgin
80/100 penetration grade asphalt binder. After several years in
service, asphalt mixture started to deteriorate due to aging. Aging is a
complex physico-chemical phenomenon that influences asphalt
binder rheological properties causing a deterioration in asphalt
mixture performance. To ascertain asphalt binder aging effects, the
virgin, artificially aged and extracted asphalt binder were tested via
the Rolling Thin film Oven (RTFO), Dynamic Shear Rheometer
(DSR) and Rotational Viscometer (RV). A comparative study
between laboratory and field aging conditions were also carried out.
The results showed that the specimens conditioned for 85 minutes
inside the RTFO was insufficient to simulate the actual short term
aging caused that took place in the field under Malaysian field
conditions