Detecting Earnings Management via Statistical and Neural Network Techniques

Predicting earnings management is vital for the capital market participants, financial analysts and managers. The aim of this research is attempting to respond to this query: Is there a significant difference between the regression model and neural networks’ models in predicting earnings management, and which one leads to a superior prediction of it? In approaching this question, a Linear Regression (LR) model was compared with two neural networks including Multi-Layer Perceptron (MLP), and Generalized Regression Neural Network (GRNN). The population of this study includes 94 listed companies in Tehran Stock Exchange (TSE) market from 2003 to 2011. After the results of all models were acquired, ANOVA was exerted to test the hypotheses. In general, the summary of statistical results showed that the precision of GRNN did not exhibit a significant difference in comparison with MLP. In addition, the mean square error of the MLP and GRNN showed a significant difference with the multi variable LR model. These findings support the notion of nonlinear behavior of the earnings management. Therefore, it is more appropriate for capital market participants to analyze earnings management based upon neural networks techniques, and not to adopt linear regression models.

Entropy Generation and Heat Transfer of Cu–Water Nanofluid Mixed Convection in a Cavity

In this numerical work, mixed convection and entropy generation of Cu–water nanofluid in a lid-driven square cavity have been investigated numerically using the Lattice Boltzmann Method. Horizontal walls of the cavity are adiabatic and vertical walls have constant temperature but different values. The top wall has been considered as moving from left to right at a constant speed, U0. The effects of different parameters such as nanoparticle volume concentration (0–0.05), Rayleigh number (104–106) and Reynolds numbers (1, 10 and 100) on the entropy generation, flow and temperature fields are studied. The results have shown that addition of nanoparticles to the base fluid affects the entropy generation, flow pattern and thermal behavior especially at higher Rayleigh and low Reynolds numbers. For pure fluid as well as nanofluid, the increase of Reynolds number increases the average Nusselt number and the total entropy generation, linearly. The maximum entropy generation occurs in nanofluid at low Rayleigh number and at high Reynolds number. The minimum entropy generation occurs in pure fluid at low Rayleigh and Reynolds numbers. Also at higher Reynolds number, the effect of Cu nanoparticles on enhancement of heat transfer was decreased because the effect of lid-driven cavity was increased. The present results are validated by favorable comparisons with previously published results. The results of the problem are presented in graphical and tabular forms and discussed.

The Impact of Online Advertising on Consumer Purchase Behavior Based on Malaysian Organizations

The paper aims to evaluate the effect of online advertising on consumer purchase behavior in Malaysian organizations. The paper has potential to extend and refine theory. A survey was distributed among Students of UTM university during the winter 2014 and 160 responses were collected. Regression analysis was used to test the hypothesized relationships of the model. Result shows that the predictors (cost saving factor, convenience factor and customized product or services) have positive impact on intention to continue seeking online advertising.

Fabrication Characteristics and Mechanical Behavior of Fly Ash-Alumina Reinforced Zn-27Al Alloy Matrix Hybrid Composite Using Stir-Casting Technique

This paper reports the viability of developing Zn-27Al alloy matrix hybrid composites reinforced with alumina, graphite and fly ash (solid waste bye product of coal in thermal power plants). This research work was aimed at developing low cost-high performance Zn-27Al matrix composite with low density. Alumina particulates (Al2O3), graphite added with 0, 2, 3, 4 and 5 wt% fly ash were utilized to prepare 10wt% reinforcing phase with Zn-27Al alloy as matrix using two-step stir casting method. Density measurement, estimated percentage porosity, tensile testing, micro hardness measurement and optical microscopy were used to assess the performance of the composites produced. The results show that the hardness, ultimate tensile strength, and percent elongation of the hybrid composites decrease with increase in fly ash content. The maximum decrease in hardness and ultimate tensile strength of 13.72% and 15.25% respectively were observed for composite grade containing 5wt% fly ash. The percentage elongation of composite sample without fly ash is 8.9% which is comparable with that of the sample containing 2wt% fly ash with percentage elongation of 8.8%. The fracture toughness of the fly ash containing composites was however superior to those of composites without fly ash with 5wt% fly ash containing composite exhibiting the highest fracture toughness. The results show that fly ash can be utilized as complementary reinforcement in ZA-27 alloy matrix composite to reduce cost.

Characterization and Behavior of Level and Flow Transmitters Available on the Market

In view of the requirements of the current industrial processes, the instrumentation plays a critical role. In this context, this work aims to raise some the operating characteristics of the level and flow transmitters, in addition to observing their similarities and possible limitations configurations.

Predicting Foreign Direct Investment of IC Design Firms from Taiwan to East and South China Using Lotka-Volterra Model

This work explores the inter-region investment behaviors of Integrated Circuit (IC) design industry from Taiwan to China using the amount of foreign direct investment (FDI). According to the mutual dependence among different IC design industrial locations, Lotka-Volterra model is utilized to explore the FDI interactions between South and East China. Effects of inter-regional collaborations on FDI flows into China are considered. The analysis results show that FDIs into South China for IC design industry significantly inspire the subsequent FDIs into East China, while FDIs into East China for Taiwan’s IC design industry significantly hinder the subsequent FDIs into South China. Because the supply chain along IC industry includes upstream IC design, midstream manufacturing, as well as downstream packing and testing enterprises, IC design industry has to cooperate with IC manufacturing, packaging and testing industries in the same area to form a strong IC industrial cluster. Taiwan’s IC design industry implement the largest FDI amount into East China and the second largest FDI amount into South China among the four regions: North, East, Mid-West and South China. If IC design houses undertake more FDIs in South China, those in East China are urged to incrementally implement more FDIs into East China to maintain the competitive advantages of the IC supply chain in East China. On the other hand, as the FDIs in East China rise, the FDIs in South China will successively decline since capitals have concentrated in East China. In addition, this investigation proves that the prediction of Lotka-Volterra model in FDI trends is accurate because the industrial interactions between the two regions are included. Finally, this work confirms that the FDI flows cannot reach a stable equilibrium point, so the FDI inflows into East and South China will expand in the future.

Second Order Sliding Mode Observer Using MRAS Theory for Sensorless Control of Multiphase Induction Machine

This paper presents a speed estimation scheme based on second-order sliding-mode Super Twisting Algorithm (STA) and Model Reference Adaptive System (MRAS) estimation theory for Sensorless control of multiphase induction machine. A stator current observer is designed based on the STA, which is utilized to take the place of the reference voltage model of the standard MRAS algorithm. The observer is insensitive to the variation of rotor resistance and magnetizing inductance when the states arrive at the sliding mode. Derivatives of rotor flux are obtained and designed as the state of MRAS, thus eliminating the integration. Compared with the first-order sliding-mode speed estimator, the proposed scheme makes full use of the auxiliary sliding-mode surface, thus alleviating the chattering behavior without increasing the complexity. Simulation results show the robustness and effectiveness of the proposed scheme.

The Effects of Placement and Cross-Section Shape of Shear Walls in Multi-Story RC Buildings with Plan Irregularity on Their Seismic Behavior by Using Nonlinear Time History Analyses

Environmental and functional conditions, sometimes, necessitate the architectural plan of the building to be asymmetric, and this result in an asymmetric structure. In such cases finding an optimal pattern for locating the components of lateral load bearing system, including shear walls, in the building’s plan is desired. In case of shear wall in addition to the location the shape of the wall cross-section is also an effective factor. Various types of shear walls and their proper layout might come effective in better stiffness distribution and more appropriate seismic response of the building. Several studies have been conducted in the context of analysis and design of shear walls; however, few studies have been performed on making decisions for the location and form of shear walls in multistory buildings, especially those with irregular plan. In this study, an attempt has been made to obtain the most reliable seismic behavior of multi-story reinforced concrete vertically chamfered buildings by using more appropriate shear walls form and arrangement in 7-, 10-, 12-, and 15-stoy buildings. The considered forms and arrangements include common rectangular walls and L-, T-, U- and Z-shaped plan, located as the core or in the outer frames of the building structure. Comparison of seismic behaviors of the buildings, including maximum roof displacement and particularly formation of plastic hinges and their distribution in the buildings’ structures, have been done based on the results of a series of nonlinear time history analyses, by using a set of selected earthquake records. Results show that shear walls with U-shaped cross-section, placed as the building central core, and also walls with Z-shaped cross-section, placed at the corners give the building more reliable seismic behavior.

Fiber Optic Sensors for Hydrogen Peroxide Vapor Measurement

This paper reports on the response of a fiber-optic sensing probe to small concentrations of hydrogen peroxide (H2O2) vapor at room temperature. H2O2 has extensive applications in industrial and medical environments. Conversely, H2O2 can be a health hazard by itself. For example, H2O2 induces cellular damage in human cells and its presence can be used to diagnose illnesses such as asthma and human breast cancer. Hence, development of reliable H2O2 sensor is of vital importance to detect and measure this species. Ferric ferrocyanide, referred to as Prussian Blue (PB), was deposited on the tip of a multimode optical fiber through the single source precursor technique and served as an indicator of H2O2 in a spectroscopic manner. Sensing tests were performed in H2O2-H2O vapor mixtures with different concentrations of H2O2. The results of sensing tests show the sensor is able to detect H2O2 concentrations in the range of 50.6 ppm to 229.5 ppm. Furthermore, the sensor response to H2O2 concentrations is linear in a log-log scale with the adjacent R-square of 0.93. This sensing behavior allows us to detect and quantify the concentration of H2O2 in the vapor phase.

Mechanical Properties of the Palm Fibers Reinforced HDPE Composites

Natural fibers are used in polymer composites to improve mechanical properties to replace inorganic reinforcing agents produced by non-renewable resources. The present study investigates the tensile and flexural behaviors of palm fibers-high density polyethylene (HDPE) composite as a function of volume fraction. The surface of the fibers was treated by mercerization treatments to improve the wetting behavior of the apolar HDPE. The treatment characterization was obtained by scanning electron microscopy, X-Ray diffraction and infrared spectroscopy. Results evidences that a good adhesion interfacial between fibers-matrix caused an increase strength and modulus flexural as well as tensile strength in the modified fibers/HDPE composites when compared to the pure HDPE and untreated fibers reinforced composites.

The Effectiveness of Cognitive Behavioural Intervention in Alleviating Social Avoidance for Blind Students

Social Avoidance is one of the most important problems that face a good number of disabled students. It results from the negative attitudes of non-disabled students, teachers and others. Some of the past research has shown that non-disabled individuals hold negative attitudes toward persons with disabilities. The present study aims to alleviate Social Avoidance by applying the Cognitive Behavioral Intervention. 24 Blind students aged 19–24 (university students) were randomly chosen we compared an experimental group (consisted of 12 students) who went through the intervention program, with a control group (12 students also) who did not go through such intervention. We used the Social Avoidance and Distress Scale (SADS) to assess social anxiety and distress behavior. The author used many techniques of cognitive behavioral intervention such as modeling, cognitive restructuring, extension, contingency contracts, selfmonitoring, assertiveness training, role play, encouragement and others. Statistically, T-test was employed to test the research hypothesis. Result showed that there is a significance difference between the experimental group and the control group after the intervention and also at the follow up stages of the Social Avoidance and Distress Scale. Also for the experimental group, there is a significance difference before the intervention and the follow up stages for the scale. Results showed that, there is a decrease in social avoidance. Accordingly, cognitive behavioral intervention program was successful in decreasing social avoidance for blind students.

Thermal Behavior of a Ventilated Façade Using Perforated Ceramic Bricks

The ventilated façade has great advantages when compared to traditional façades as it reduces the air conditioning thermal loads due to the stack effect induced by solar radiation in the air chamber. Optimizing energy consumption by using a ventilated façade can be used not only in newly built buildings but also it can be implemented in existing buildings, opening the field of implementation to energy building retrofitting works. In this sense, the following three prototypes of façade where designed, built and further analyzed in this research: non-ventilated façade (NVF); slightly ventilated façade (SLVF) and strongly ventilated façade (STVF). The construction characteristics of the three facades are based on the Spanish regulation of building construction “Technical Building Code”. The façades have been monitored by type-k thermocouples in a representative day of the summer season in Madrid (Spain). Moreover, an analysis of variance (ANOVA) with repeated measures, studying the thermal lag in the ventilated and no-ventilated façades has been designed. Results show that STVF façade presents higher levels of thermal inertia as the thermal lag reduces up to 17% (daily mean) compared to the non-ventilated façade. In addition, the statistical analysis proves that an increase of the ventilation holes size in STVF façades can improve the thermal lag significantly (p >0.05) when compared to the SLVF façade.

Effect of Unbound Granular Materials Nonlinear Resilient Behavior on Pavement Response and Performance of Low Volume Roads

Structural analysis of flexible pavements has been and still is currently performed using multi-layer elastic theory. However, for thinly surfaced pavements subjected to low to medium volumes of traffics, the importance of non-linear stress-strain behavior of unbound granular materials (UGM) requires the use of more sophisticated numerical models for structural design and performance of such pavements. In the present work, nonlinear unbound aggregates constitutive model is implemented within an axisymmetric finite element code developed to simulate the nonlinear behavior of pavement structures including two local aggregates of different mineralogical nature, typically used in Algerian pavements. The performance of the mechanical model is examined about its capability of representing adequately, under various conditions, the granular material non-linearity in pavement analysis. In addition, deflection data collected by Falling Weight Deflectometer (FWD) are incorporated into the analysis in order to assess the sensitivity of critical pavement design criteria and pavement design life to the constitutive model. Finally, conclusions of engineering significance are formulated. 

Judicial Institutions in a Post-Conflict Society: Gaining Legitimacy through a Holistic Reform

This paper focuses on how judiciaries in post-conflict societies can gain legitimacy through reformation. Legitimacy plays a pivotal role in shaping people’s behavior to submit to the law and verifies the rightfulness of an organ for taking binding decisions. Among various dynamics, judicial independence, access to justice and behavioral changes of the judicial officials broadly contribute to legitimation of judiciary in general, and the courts in particular. Increasing independence of judiciary through reform limits, inter alia, government interference in judicial issues and protects basic rights of the citizens. Judicial independence does not only matter in institutional terms, individual independence also influences the impartiality and integrity of judges, which can be increased through education and better administration of justice. Finally, access to justice as an intertwined concept both at the legal and moral spectrum of judicial reform avails justice to the citizens and increases the level of public trust and confidence. Efficient legal decisions on fostering such elements through holistic reform create a rule of law atmosphere. Citizens neither accept an illegitimate judiciary nor do they trust its decisions. Lack of such tolerance and confidence deters the rule of law and thus, undermines the democratic development of a society.

Aging Effect on Mechanical Behavior of Duplex Satinless Steel

Effect of alloying on the microstructure and mechanical properties of heat-resisting duplex stainless steel (DSS) for Mg production was investigated in this study. 25Cr-8Ni based DSS’s were cast into rectangular ingots of which the dimension was 350×350×100 mm3 . Nitrogen and Yttrium were added in the range within 0.3 in weight percent. Phase equilibrium was calculated using the FactSage®, thermodynamic software. Hot exposure, high temperature tensile and compression tests were conducted on the ingots at 1230oC, which is operation temperature employed for Mg production by Silico-thermic reduction. The steel with N and Y showed much higher strength than 310S alloy in both tensile and compression tests. By thermal exposition at 1230oC for 200 hrs, hardness of DSS containing N and Y was found to increase. Hot workability of the heat-resisting DSS was evaluated by employing hot rolling at 1230 oC. Hot shortness was observed in the ingot with N and found to disappear after addition of Y.

The Influence of Reaction Parameters on Magnetic Properties of Synthesized Strontium Ferrite

The conventional ceramic route was utilized to prepare a hard magnetic powder (M-type strontium ferrite, SrFe12O19). The stoichiometric mixture of iron oxide and strontium carbonate were calcined at 1000oC and then fired at various temperatures. The influence of various reaction parameters such as mixing ratio, calcination temperature, firing temperature and firing time on the magnetic behaviors of the synthesized magnetic powder were investigated. The magnetic properties including Coercivity (Hc), Magnetic saturation (Ms), and Magnetic remnance (Mr) were measured by vibrating sample magnetometer. Morphologically the produced magnetic powder has a dense hexagonal grain shape structure.

Half Model Testing for Canard of a Hybrid Buoyant Aircraft

Due to the interference effects, the intrinsic aerodynamic parameters obtained from the individual component testing are always fundamentally different than those obtained for complete model testing. Consideration and limitation for such testing need to be taken into account in any design work related to the component buildup method. In this paper, the scaled model of a straight rectangular canard of a hybrid buoyant aircraft is tested at 50 m/s in IIUM-LSWT (Low Speed Wind Tunnel). Model and its attachment with the balance are kept rigid to have results free from the aeroelastic distortion. Based on the velocity profile of the test section’s floor; the height of the model is kept equal to the corresponding boundary layer displacement. Balance measurements provide valuable but limited information of overall aerodynamic behavior of the model. Zero lift coefficient is obtained at -2.2o and the corresponding drag coefficient was found to be less than that at zero angle of attack. As a part of the validation of low fidelity tool, plot of lift coefficient plot was verified by the experimental data and except the value of zero lift coefficients, the overall trend has under predicted the lift coefficient. Based on this comparative study, a correction factor of 1.36 is proposed for lift curve slope obtained from the panel method.

A High Quality Factor Filter Based on Quasi-Periodic Photonic Structure

We report the design and characterization of ultra high quality factor filter based on one-dimensional photonic-crystal Thue- Morse sequence structure. The behavior of aperiodic array of photonic crystal structure is numerically investigated and we show that by changing the angle of incident wave, desired wavelengths could be tuned and a tunable filter is realized. Also it is shown that high quality factor filter be achieved in the telecommunication window around 1550 nm, with a device based on Thue-Morse structure. Simulation results show that the proposed structure has a quality factor more than 100000 and it is suitable for DWDM communication applications.

Measurements of Radial Velocity in Fixed Fluidized Bed for Fischer-Tropsch Synthesis Using LDV

High temperature Fischer-Tropsch synthesis process use fixed fluidized bed as a reactor. In order to understand the flow behavior in the fluidized bed better, the research of how the radial velocity affects the entire flow field is necessary. Laser Doppler Velocimetry (LDV) was used to study the radial velocity distribution along the diameter direction of the cross-section of the particle in a fixed fluidized bed. The velocity in the cross-section is fluctuating within a small range. The direction of the speed is a random phenomenon. In addition to r/R is 1, the axial velocity are more than 6 times of the radial velocity, the radial velocity has little impact on the axial velocity in a fixed fluidized bed.

Time-Dependent Behavior of Reinforced Concrete Beams under Sustained and Repeated Loading

The current study aims to highlight the loading characteristics impact on the time evolution (focusing particularly on long term effects) of the deformation of realized reinforced concrete beams. Namely the tension stiffening code provisions (i.e. within Eurocode 2) are reviewed with a clear intention to reassess their operational value and predicting capacity. In what follows the experimental programme adopted along with some preliminary findings and numerical modeling attempts are presented. For a range of long slender reinforced concrete simply supported beams (4200 mm) constant static sustained and repeated cyclic loadings were applied mapping the time evolution of deformation. All experiments were carried out at the Heavy Structures Lab of the University of Leeds. During tests the mid-span deflection, creep coefficient and shrinkage strains were monitored for duration of 90 days. The obtained results are set against the values predicted by Eurocode 2 and the tools within an FE commercial package (i.e. Midas FEA) to yield that existing knowledge and practise is at times over-conservative.