Abstract: The article deals with dividends and their distribution from investors from a theoretical point of view. Some studies try to analyzed the reaction of the market on the dividend announcement and found out the change of dividend policy is associated with abnormal returns around the dividend announcement date. Another researches directly questioned the investors about their dividend preference and beliefs. Investors want the dividend from many reasons (e.g. some of them explain the dividend preference by the existence of transaction cost; investors prefer the dividend today, because there is less risky; the managers have private information about the firm). The most controversial theory of dividend policy was developed by Modigliani and Miller (1961) who demonstrated that in the perfect and complete capital markets the dividend policy is irrelevant and the value of the company is independent of its payout policy. Nevertheless, in the real world the capital markets are imperfect, because of asymmetric information, transaction costs, incomplete contracting possibilities and taxes.
Abstract: Existing methods in which the animation data of all frames are stored and reproduced as with vertex animation cannot be used in mobile device environments because these methods use large amounts of the memory. So 3D animation data reduction methods aimed at solving this problem have been extensively studied thus far and we propose a new method as follows. First, we find and remove frames in which motion changes are small out of all animation frames and store only the animation data of remaining frames (involving large motion changes). When playing the animation, the removed frame areas are reconstructed using the interpolation of the remaining frames. Our key contribution is to calculate the accelerations of the joints of individual frames and the standard deviations of the accelerations using the information of joint locations in the relevant 3D model in order to find and delete frames in which motion changes are small. Our methods can reduce data sizes by approximately 50% or more while providing quality which is not much lower compared to original animations. Therefore, our method is expected to be usefully used in mobile device environments or other environments in which memory sizes are limited.
Abstract: This paper focuses on a novel method for semantic
searching and retrieval of information about learning materials.
Metametadata encapsulate metadata instances by using the properties
and attributes provided by ontologies rather than describing learning
objects. A novel metametadata taxonomy has been developed which
provides the basis for a semantic search engine to extract, match and
map queries to retrieve relevant results. The use of ontological views
is a foundation for viewing the pedagogical content of metadata
extracted from learning objects by using the pedagogical attributes
from the metametadata taxonomy. Using the ontological approach
and metametadata (based on the metametadata taxonomy) we present
a novel semantic searching mechanism.These three strands – the
taxonomy, the ontological views, and the search algorithm – are
incorporated into a novel architecture (OMESCOD) which has been
implemented.
Abstract: The objective of this research is to develop the
performance indicators (PIs) in operational level for the Pre-hospital Emergency Medical Service (EMS) system employing in Thailand. This research started with ascertaining the current pre-hospital care
system. The team analyzed the strategies of Narerthorn, a government unit under the ministry of public health, and the existing PIs of the pre-hospital care. Afterwards, the current National Strategic Plan of EMS development (2008-2012) of the Emergency
Medical Institute of Thailand (EMIT) was considered using strategic
analysis to developed Strategy Map (SM) and identified the Success
Factors (SFs). The analysis results from strategy map and SFs were used to develop the Performance Indicators (PIs). To verify the set of
PIs, the team has interviewed with the relevant practitioners for the possibilities to implement the PIs. To this paper, it was to ascertain
that all the developed PIs support the objectives of the strategic plan. Nevertheless, the results showed that the operational level PIs suited
only with the first dimension of National Strategic Plan
(infrastructure and information technology development). Besides,
the SF was the infrastructure development (to contribute the EMS system to people throughout with standard and efficiency both in normally and disaster conditions). Finally, twenty-nine indicators
were developed from the analysis results of SM and SFs.
Abstract: Conventionally the selection of parameters depends
intensely on the operator-s experience or conservative technological
data provided by the EDM equipment manufacturers that assign
inconsistent machining performance. The parameter settings given by
the manufacturers are only relevant with common steel grades. A
single parameter change influences the process in a complex way.
Hence, the present research proposes artificial neural network (ANN)
models for the prediction of surface roughness on first commenced
Ti-15-3 alloy in electrical discharge machining (EDM) process. The
proposed models use peak current, pulse on time, pulse off time and
servo voltage as input parameters. Multilayer perceptron (MLP) with
three hidden layer feedforward networks are applied. An assessment
is carried out with the models of distinct hidden layer. Training of the
models is performed with data from an extensive series of
experiments utilizing copper electrode as positive polarity. The
predictions based on the above developed models have been verified
with another set of experiments and are found to be in good
agreement with the experimental results. Beside this they can be
exercised as precious tools for the process planning for EDM.
Abstract: A neuron can emit spikes in an irregular time basis and by averaging over a certain time window one would ignore a lot of information. It is known that in the context of fast information processing there is no sufficient time to sample an average firing rate of the spiking neurons. The present work shows that the spiking neurons are capable of computing the radial basis functions by storing the relevant information in the neurons' delays. One of the fundamental findings of the this research also is that when using overlapping receptive fields to encode the data patterns it increases the network-s clustering capacity. The clustering algorithm that is discussed here is interesting from computer science and neuroscience point of view as well as from a perspective.
Abstract: The aim of this paper is description of the notion of
the death for prisoners and the ways of deal with. They express
indifference, coldness, inability to accept the blame, they have no
shame and no empathy. Is it enough to perform acts verging on the
death. In this paper we described mechanisms and regularities of selfdestructive
behaviour in the view of the relevant literature? The
explanation of the phenomenon is of a biological and sociopsychological
nature. It must be clearly stated that all forms of selfdestructive
behaviour result from various impulses, conflicts and
deficits. That is why they should be treated differently in terms of
motivation and functions which they perform in a given group of
people. Behind self-destruction there seems to be a motivational
mechanism which forces prisoners to rebel and fight against the hated
law and penitentiary systems. The imprisoned believe that pain and
suffering inflicted on them by themselves are better than passive
acceptance of repression. The variety of self-destruction acts is wide,
and some of them take strange forms. We assume that a life-death
barrier is a kind of game for them. If they cannot change the
degrading situation, their life loses sense.
Abstract: Shadow detection is still considered as one of the
potential challenges for intelligent automated video surveillance
systems. A pre requisite for reliable and accurate detection and
tracking is the correct shadow detection and classification. In such a
landscape of conditions, privacy issues add more and more
complexity and require reliable shadow detection.
In this work the intertwining between security, accuracy,
reliability and privacy is analyzed and, accordingly, a novel
architecture for Privacy Enhancing Video Surveillance (PEVS) is
introduced. Shadow detection and masking are dealt with through the
combination of two different approaches simultaneously. This results
in a unique privacy enhancement, without affecting security.
Subsequently, the methodology was employed successfully in a
large-scale wireless video surveillance system; privacy relevant
information was stored and encrypted on the unit, without
transferring it over an un-trusted network.
Abstract: In this paper, the action research driven design of a
context relevant, developmental peer review of teaching model, its
implementation strategy and its impact at an Australian university is
presented. PRO-Teaching realizes an innovative process that
triangulates contemporaneous teaching quality data from a range of
stakeholders including students, discipline academics, learning and
teaching expert academics, and teacher reflection to create reliable
evidence of teaching quality. Data collected over multiple classroom
observations allows objective reporting on development differentials
in constructive alignment, peer, and student evaluations. Further
innovation is realized in the application of this highly structured
developmental process to provide summative evidence of sufficient
validity to support claims for professional advancement and learning
and teaching awards. Design decision points and contextual triggers
are described within the operating domain. Academics and
developers seeking to introduce structured peer review of teaching
into their organization will find this paper a useful reference.
Abstract: The performance of a sucrose-based H2 production in
a completely stirred tank reactor (CSTR) was modeled by neural
network back-propagation (BP) algorithm. The H2 production was
monitored over a period of 450 days at 35±1 ºC. The proposed model
predicts H2 production rates based on hydraulic retention time
(HRT), recycle ratio, sucrose concentration and degradation, biomass
concentrations, pH, alkalinity, oxidation-reduction potential (ORP),
acids and alcohols concentrations. Artificial neural networks (ANNs)
have an ability to capture non-linear information very efficiently. In
this study, a predictive controller was proposed for management and
operation of large scale H2-fermenting systems. The relevant control
strategies can be activated by this method. BP based ANNs modeling
results was very successful and an excellent match was obtained
between the measured and the predicted rates. The efficient H2
production and system control can be provided by predictive control
method combined with the robust BP based ANN modeling tool.
Abstract: This paper aims to develop a model that assists the
international retailer in selecting the country that maximizes the
degree of fit between the retailer-s goals and the country
characteristics in his initial internationalization move. A two-stage
multi criteria decision model is designed integrating the Analytic
Hierarchy Process (AHP) and Goal Programming. Ethical, cultural,
geographic and economic proximity are identified as the relevant
constructs of the internationalization decision. The constructs are
further structured into sub-factors within analytic hierarchy. The
model helps the retailer to integrate, rank and weigh a number of
hard and soft factors and prioritize the countries accordingly. The
model has been implemented on a Turkish luxury goods retailer who
was planning to internationalize. Actual entry of the specific retailer
in the selected country is a support for the model. Implementation on
a single retailer limits the generalizability of the results; however, the
emphasis of the paper is on construct identification and model
development. The paper enriches the existing literature by proposing
a hybrid multi objective decision model which introduces new soft
dimensions i.e. perceived distance, ethical proximity, humane
orientation to the decision process and facilitates effective decision
making.
Abstract: The medical studies often require different methods
for parameters selection, as a second step of processing, after the
database-s designing and filling with information. One common
task is the selection of fields that act as risk factors using wellknown
methods, in order to find the most relevant risk factors and
to establish a possible hierarchy between them. Different methods
are available in this purpose, one of the most known being the
binary logistic regression. We will present the mathematical
principles of this method and a practical example of using it in the
analysis of the influence of 10 different psychiatric diagnostics
over 4 different types of offences (in a database made from 289
psychiatric patients involved in different types of offences).
Finally, we will make some observations about the relation
between the risk factors hierarchy established through binary
logistic regression and the individual risks, as well as the results of
Chi-squared test. We will show that the hierarchy built using the
binary logistic regression doesn-t agree with the direct order of risk
factors, even if it was naturally to assume this hypothesis as being
always true.
Abstract: The rapid advance of communication technology is
evolving the network environment into the broadband convergence
network. Likewise, the IT services operated in the individual network
are also being quickly converged in the broadband convergence
network environment. VoIP and IPTV are two examples of such new
services. Efforts are being made to develop the video phone service,
which is an advanced form of the voice-oriented VoIP service.
However, the new IT services will be subject to stability and reliability
vulnerabilities if the relevant security issues are not answered during
the convergence of the existing IT services currently being operated in
individual networks within the wider broadband network
environment. To resolve such problems, this paper attempts to analyze
the possible threats and identify the necessary security measures
before the deployment of the new IT services. Furthermore, it
measures the quality of the encryption algorithm application example
to describe the appropriate algorithm in order to present security
technology that will have no negative impact on the quality of the
video phone service.
Abstract: In this paper a novel algorithm is proposed that integrates the process of fuzzy hierarchy generation and rule discovery for automated discovery of Production Rules with Fuzzy Hierarchy (PRFH) in large databases.A concept of frequency matrix (Freq) introduced to summarize large database that helps in minimizing the number of database accesses, identification and removal of irrelevant attribute values and weak classes during the fuzzy hierarchy generation.Experimental results have established the effectiveness of the proposed algorithm.
Abstract: The objective of this paper is to present a research
study of the convectors that are used for heating or cooling of the
living room or industrial halls. The key points are experimental
measurement and comprehensive numerical simulation of the flow
coming throughout the part of the convector such as heat exchanger,
input from the fan etc.. From the obtained results, the components of
the convector are optimized in sense to increase thermal power
efficiency due to improvement of heat convection or reduction of air
drag friction. Both optimized aspects are leading to the more
effective service conditions and to energy saving. The significant part
of the convector research is a design of the unique measurement
laboratory and adopting measure techniques. The new laboratory
provides possibility to measure thermal power efficiency and other
relevant parameters under specific service conditions of the
convectors.
Abstract: Collateralized Debt Obligations are not as widely used
nowadays as they were before 2007 Subprime crisis. Nonetheless
there remains an enthralling challenge to optimize cash flows
associated with synthetic CDOs. A Gaussian-based model is used
here in which default correlation and unconditional probabilities of
default are highlighted. Then numerous simulations are performed
based on this model for different scenarios in order to evaluate the
associated cash flows given a specific number of defaults at different
periods of time. Cash flows are not solely calculated on a single
bought or sold tranche but rather on a combination of bought and
sold tranches. With some assumptions, the simplex algorithm gives
a way to find the maximum cash flow according to correlation of
defaults and maturities. The used Gaussian model is not realistic in
crisis situations. Besides present system does not handle buying or
selling a portion of a tranche but only the whole tranche. However the
work provides the investor with relevant elements on how to know
what and when to buy and sell.
Abstract: Risk of infectious disease outbreaks is related to the
hygiene among the population. To assess the actual risks and modify
the relevant emergency procedures if necessary, a hygiene survey
was conducted among undergraduate students on the Rhodes
University campus. Soap was available to 10.5% and only 26.8% of
the study participants followed proper hygiene in relation to food
consumption. This combination increases the risk of infectious
disease outbreaks at the campus. Around 83.6% were willing to wash
their hands if soap was provided. Procurement and availability of
soap in undergraduate residences on campus should be improved, as
the total cost is estimated at only 2000 USD per annum. Awareness
campaigns about food-related hygiene and the need for regular handwashing
with soap should be run among Rhodes University students.
If successful, rates of respiratory and hygiene-related diseases will be
decreased and emergency health management simplified.
Abstract: Increasing growth of information volume in the
internet causes an increasing need to develop new (semi)automatic
methods for retrieval of documents and ranking them according to
their relevance to the user query. In this paper, after a brief review
on ranking models, a new ontology based approach for ranking
HTML documents is proposed and evaluated in various
circumstances. Our approach is a combination of conceptual,
statistical and linguistic methods. This combination reserves the
precision of ranking without loosing the speed. Our approach
exploits natural language processing techniques to extract phrases
from documents and the query and doing stemming on words. Then
an ontology based conceptual method will be used to annotate
documents and expand the query. To expand a query the spread
activation algorithm is improved so that the expansion can be done
flexible and in various aspects. The annotated documents and the
expanded query will be processed to compute the relevance degree
exploiting statistical methods. The outstanding features of our
approach are (1) combining conceptual, statistical and linguistic
features of documents, (2) expanding the query with its related
concepts before comparing to documents, (3) extracting and using
both words and phrases to compute relevance degree, (4) improving
the spread activation algorithm to do the expansion based on
weighted combination of different conceptual relationships and (5)
allowing variable document vector dimensions. A ranking system
called ORank is developed to implement and test the proposed
model. The test results will be included at the end of the paper.
Abstract: This paper unifies power optimization approaches in
various energy converters, such as: thermal, solar, chemical, and
electrochemical engines, in particular fuel cells. Thermodynamics
leads to converter-s efficiency and limiting power. Efficiency
equations serve to solve problems of upgrading and downgrading of
resources. While optimization of steady systems applies the
differential calculus and Lagrange multipliers, dynamic optimization
involves variational calculus and dynamic programming. In reacting
systems chemical affinity constitutes a prevailing component of an
overall efficiency, thus the power is analyzed in terms of an active
part of chemical affinity. The main novelty of the present paper in the
energy yield context consists in showing that the generalized heat
flux Q (involving the traditional heat flux q plus the product of
temperature and the sum products of partial entropies and fluxes of
species) plays in complex cases (solar, chemical and electrochemical)
the same role as the traditional heat q in pure heat engines.
The presented methodology is also applied to power limits in fuel
cells as to systems which are electrochemical flow engines propelled
by chemical reactions. The performance of fuel cells is determined by
magnitudes and directions of participating streams and mechanism of
electric current generation. Voltage lowering below the reversible
voltage is a proper measure of cells imperfection. The voltage losses,
called polarization, include the contributions of three main sources:
activation, ohmic and concentration. Examples show power maxima
in fuel cells and prove the relevance of the extension of the thermal
machine theory to chemical and electrochemical systems. The main
novelty of the present paper in the FC context consists in introducing
an effective or reduced Gibbs free energy change between products p
and reactants s which take into account the decrease of voltage and
power caused by the incomplete conversion of the overall reaction.
Abstract: In this work we study the reflection of circularly
polarised light from a nano-structured biological material found in
the exocuticle of scarabus beetles. This material is made of a stack
of ultra-thin (~5 nm) uniaxial layers arranged in a left-handed
helicoidal stack, which resonantly reflects circularly polarized light.
A chirp in the layer thickness combined with a finite absorption
coefficient produce a broad smooth reflectance spectrum. By
comparing model calculations and electron microscopy with
measured spectra we can explain our observations and quantify most
relevant structural parameters.