Abstract: The study examines the determinants of corporate cash holding of non-financial quoted firms in Nigeria using a sample of fifty four non-financial quoted firms listed on the Nigeria Stock Exchange for the period 1995-2009. Data were sourced from the Annual reports of the sampled firms and analyzed using Generalized Method of Moments(GMM). The study finds evidence supportive of a target adjustment model and that firms can not instantaneously adjust towards the target cash level owing to the fact that adjustment cost being costly,. Also, the result shows significant negative relationship between cash holdings and firm size, net working capital, return on asset and bank relationship and positive relationship with growth opportunities, leverage, inventories, account receivables and financial distress. Furthermore, there is no significant relationship between cash holdings and cash flow. In Nigerian setting, most of the variables that are relevant for explaining cash holdings in the Developed countries are found by this study to be relevant also in Nigeria.
Abstract: The present study is aim to prepare and evaluate the selfnanoemulsifying drug delivery (SNEDDS) system of a poorly water soluble drug valsartan in order to achieve a better dissolution rate which would further help in enhancing oral bioavailability. The present research work describes a SNEDDS of valsartan using labrafil M 1944 CS, Tween 80 and Transcutol HP. The pseudoternary phase diagrams with presence and absence of drug were plotted to check for the emulsification range and also to evaluate the effect of valsartan on the emulsification behavior of the phases. The mixtures consisting of oil (labrafil M 1944 CS) with surfactant (tween 80), co-surfactant (Transcutol HP) were found to be optimum formulations. Prepared formulations were evaluated for its particle size distribution, nanoemulsifying properties, robustness to dilution, self emulsication time, turbidity measurement, drug content and invitro dissolution. The optimized formulations are further evaluated for heating cooling cycle, centrifugation studies, freeze thaw cycling, particle size distribution and zeta potential were carried out to confirm the stability of the formed SNEDDS formulations. The prepared formulation revealed t a significant improvement in terms of the drug solubility as compared with marketed tablet and pure drug.
Abstract: The purpose of this paper is to shed light on the
controversial subject of tax incentives to promote regional
development. Although extensive research has been conducted, a
review of the literature gives an inconclusive answer to whether
economic incentives are effective. One reason is the fact that for
some researchers “effective" means the significant location of new
firms in targeted areas, while for others the creation of jobs
regardless if new firms are arriving in a significant fashion. We
present this dichotomy by analyzing a tax incentive program via both
alternatives: location and job creation. The contribution of the paper
is to inform policymakers about the potential opportunities and
pitfalls when designing incentive strategies. This is particularly
relevant, given that both the US and Europe have been promoting
incentives as a tool for regional economic development.
Abstract: The article examines an opportunity of corruption
restriction exercised by international business community in Russia.
Integration of Russian economy into the international business does
not reduce corruption inside the country. Foreign actors investing in
Russia under the condition of obtaining their required rates of returns
will be reluctant to harm their investments by involving into anticorruption
activities. Furthermore, many Russian firms- competitive
advantage could be directly related to their corruption connections. In
this case, foreign investments would only accentuate corrupt
companies- success by supporting them financially
Abstract: Very few studies have examined performance
implications of strategic alliance announcements in the information
technologies industry from a resource-based view. Furthermore, none
of these studies have investigated resource congruence and alliance
motive as potential sources of abnormal firm performance. This paper
extends upon current resource-based literature to discover and explore
linkages between these concepts and the practical performance of
strategic alliances. This study finds that strategic alliance
announcements have provided overall abnormal positive returns, and
that marketing alliances with marketing resource incongruence have
also contributed to significant firm performance.
Abstract: In this paper, the telegraph equation is solved numerically by cubic B-spline quasi-interpolation .We obtain the numerical scheme, by using the derivative of the quasi-interpolation to approximate the spatial derivative of the dependent variable and a low order forward difference to approximate the temporal derivative of the dependent variable. The advantage of the resulting scheme is that the algorithm is very simple so it is very easy to implement. The results of numerical experiments are presented, and are compared with analytical solutions by calculating errors L2 and L∞ norms to confirm the good accuracy of the presented scheme.
Abstract: This paper studies the duration or survival time of commercial banks active in the Moscovian three month Rouble deposits market, during the 1994-1997 period. The privatization process of the Russian commercial banking industry, after the 1988 banking reform, caused a massive entry of new banks followed by a period of high rates of exit. As a consequence, many firms went bankrupt without refunding their deposits. Therefore, both for the banks and for the banks- depositors, it is of interest to analyze which are the significant characteristics that motivate the exit or the closing of the bank. We propose a different methodology based on penalized weighted least squares which represents a very general, flexible and innovative approach for this type of analysis. The more relevant results are that smaller banks exit sooner, banks that enter the market in the last part of the study have shorter durations. As expected, the more experienced banks have a longer duration in the market. In addition, the mean survival time is lower for banks which offer extreme interest rates.
Abstract: This paper presents the outcomes of a qualitative
study which aims to investigate the pedagogical potentials of serious
games in the preparation of future teachers. The authors discuss the
existing problems and barriers associated with the organization of
teaching practices in Bulgaria as part of the pre-service teacher
training, as well as the attitudes and perceptions of the interviewed
academics, teachers and trainees concerning the integration of serious
games in the teaching practicum. The study outcomes strongly
confirm the positive attitudes of the respondents to the introduction
of virtual learning environments for the development of professional
skills of future teachers as a supplement to the traditional forms of
education. Through the inclusion of serious games it is expected to
improve the quality of practical training of pre-service teachers as
they overcome many of the problems identified in the existing
teaching practices. The outcomes of the study will inform the design
of the educational simulation software which is part of the project
SimAula Tomorrow's Teachers Training.
Abstract: This paper presents the speed regulation scheme of a small brushless dc motor (BLDC motor) with trapezoidal back-emf consideration. The proposed control strategy uses the proportional controller in which the proportional gain, kp, is appropriately adjusted by using genetic algorithms. As a result, the proportional control can perform well in order to compensate the BLDC motor with load disturbance. This confirms that the proposed speed regulation scheme gives satisfactory results.
Abstract: ICT and supply chain management (SCM) are two
notions, which have attracted much attention among both
academicians and practitioners during the last decade. However, the
discussion of the relationship between the two notions has been
limited and fragmented. In this paper, we will present a summary of
the discussion of ICT components and SCM on an extensive
literature review. Then, we will discuss the interrelation between ICT
and SCM from some major components and applications of ICT
perspective. After all, we can introduce e-SCM concept, that arisen
recently in management literature, in order to cover the whole topic.
The authors look at all of the major components of electronic supply
chain management and demonstrate that the future holds tremendous
opportunity for those firms that take advantage of all of its
possibilities.
Abstract: Various sounds generated in the chest are included in
auscultation sound. Adaptive Noise Canceller (ANC) is one of the
useful techniques for biomedical signal. But the ANC is not suitable
for auscultation sound. Because the ANC needs two input channels as
a primary signal and a reference signals, but a stethoscope can
provide just one input sound. Therefore, in this paper, it was
proposed the Single Input ANC (SIANC) for suppression of breath
sound in a cardiac auscultation sound. For the SIANC, it was
proposed that the reference generation system which included Heart
Sound Detector, Control and Reference Generator. By experiment
and comparison, it was confirmed that the proposed SIANC was
efficient for heart sound enhancement and it was independent of
variations of a heartbeat.
Abstract: The system is made with main distributed components:
First Level: Industrial Computers placed in Control Room (monitors thermal and electrical processes based on the data provided by the second level); Second Level: PLCs which collects data from process and transmits information on the first level; also takes commands from this level which are further, passed to execution elements from third
level; Third Level: field elements consisting in 3 categories: data collecting elements; data transfer elements from the third level to the second; execution elements which take commands from the second
level PLCs and executes them after which transmits the confirmation of execution to them. The purpose of the automatic functioning is the optimization of the co-generative electrical energy commissioning in the national
energy system and the commissioning of thermal energy to the consumers.
The integrated system treats the functioning of all the equipments and devices as a whole: Gas Turbine Units (GTU); MT 20kV Medium Voltage Station (MVS); 0,4 kV Low Voltage Station (LVS); Main Hot Water Boilers (MHW); Auxiliary Hot Water Boilers (AHW); Gas Compressor Unit (GCU); Thermal Agent Circulation
Pumping Unit (TPU); Water Treating Station (WTS).
Abstract: The objectives of this research are to search the
management pattern of Bang Khonthi lodging entrepreneurs for
sufficient economy ways, to know the threat that affects this sector
and design fit arrangement model to sustain their business with
Samut Songkram style. What will happen if they do not use this
approach? Will they have a financial crisis? The data and information
are collected by informal discussions with 8 managers and 400
questionnaires. A mixed methods of both qualitative research and
quantitative research are used. Bent Flyvbjerg-s phronesis is utilized
for this analysis. Our research will prove that sufficient economy can
help small business firms to solve their problems. We think that the
results of our research will be a financial model to solve many
problems of the entrepreneurs and this way will can be a model for
other provinces of Thailand.
Abstract: in dissimilar material joints, failure often occurs
along the interface between two materials due to stress singularity.
Stress distribution and its concentration depend on materials and
geometry of the junction. Inhomogenity of stress distribution at the
interface of junction of two materials with different elastic modules
and stress concentration in this zone are the main factors resulting in
rupture of the junction. Effect of joining angle in the interface of
aluminum-polycarbonate will be discussed in this paper. Computer
simulation and finite element analysis by ABAQUS showed that
convex interfacial joint leads to stress reduction at junction corners in
compare with straight joint. This finding is confirmed by photoelastic
experimental results.
Abstract: Stochastic resonance (SR) is a phenomenon whereby
the signal transmission or signal processing through certain nonlinear
systems can be improved by adding noise. This paper discusses SR in
nonlinear signal detection by a simple test statistic, which can be
computed from multiple noisy data in a binary decision problem based
on a maximum a posteriori probability criterion. The performance of
detection is assessed by the probability of detection error Per . When
the input signal is subthreshold signal, we establish that benefit from
noise can be gained for different noises and confirm further that the
subthreshold SR exists in nonlinear signal detection. The efficacy of
SR is significantly improved and the minimum of Per can
dramatically approach to zero as the sample number increases. These
results show the robustness of SR in signal detection and extend the
applicability of SR in signal processing.
Abstract: In most of the popular implementation of Parallel GAs
the whole population is divided into a set of subpopulations, each
subpopulation executes GA independently and some individuals are
migrated at fixed intervals on a ring topology. In these studies,
the migrations usually occur 'synchronously' among subpopulations.
Therefore, CPUs are not used efficiently and the communication
do not occur efficiently either. A few studies tried asynchronous
migration but it is hard to implement and setting proper parameter
values is difficult.
The aim of our research is to develop a migration method which is
easy to implement, which is easy to set parameter values, and which
reduces communication traffic. In this paper, we propose a traffic
reduction method for the Asynchronous Parallel Distributed GA by
migration of elites only. This is a Server-Client model. Every client
executes GA on a subpopulation and sends an elite information to the
server. The server manages the elite information of each client and
the migrations occur according to the evolution of sub-population in
a client. This facilitates the reduction in communication traffic.
To evaluate our proposed model, we apply it to many function optimization
problems. We confirm that our proposed method performs
as well as current methods, the communication traffic is less, and
setting of the parameters are much easier.
Abstract: This paper proposes an analytical method for the
dynamics of generating firms- alliance networks along with business
phases. Dynamics in network developments have previously been
discussed in the research areas of organizational strategy rather than in
the areas of regional cluster, where the static properties of the
networks are often discussed. The analytical method introduces the
concept of business phases into innovation processes and uses
relationships called prior experiences; this idea was developed in
organizational strategy to investigate the state of networks from the
viewpoints of tradeoffs between link stabilization and node
exploration. This paper also discusses the results of the analytical
method using five cases of the network developments of firms. The
idea of Embeddedness helps interpret the backgrounds of the
analytical results. The analytical method is useful for policymakers of
regional clusters to establish concrete evaluation targets and a
viewpoint for comparisons of policy programs.
Abstract: This paper presents the experimental results on effect of applied voltage stress frequency to the occurrence of electrical treeing in 22 kV cross linked polyethylene (XLPE) insulated cable.Hallow disk of XLPE insulating material with thickness 5 mm taken from unused high voltage cable was used as the specimen in this study. Stainless steel needle was inserted gradually into the specimen to give a tip to earth plane electrode separation of 2.50.2 mm at elevated temperature 105-110°C. The specimen was then annealed for 5 minute to minimize any mechanical stress build up around the needle-plane region before it was cooled down to room temperature. Each specimen were subjected to the same applied voltage stress level at 8 kV AC rms, with various frequency, 50, 100, 500, 1000 and 2000 Hz. Initiation time, propagation speed and pattern of electrical treeing were examined in order to study the effect of applied voltage stress frequency. By the experimental results, initial time of visible treeing decreases with increasing in applied voltage frequency. Also, obviously, propagation speed of electrical treeing increases with increasing in applied voltage frequency.Furthermore, two types of electrical treeing, bush-like and branch-like treeing were observed.The experimental results confirmed the effect of voltage stress frequency as well.
Abstract: We consider a two-way relay network where two sources exchange information. A relay helps the two sources exchange information using the decode-and-XOR-forward protocol. We investigate the power minimization problem with minimum rate constraints. The system needs two time slots and in each time slot the required rate pair should be achievable. The power consumption is minimized in each time slot and we obtained the closed form solution. The simulation results confirm that the proposed power allocation scheme consumes lower total power than the conventional schemes.
Abstract: Model Predictive Control (MPC) is an established control
technique in a wide range of process industries. The reason for
this success is its ability to handle multivariable systems and systems
having input, output or state constraints. Neverthless comparing to
PID controller, the implementation of the MPC in miniaturized
devices like Field Programmable Gate Arrays (FPGA) and microcontrollers
has historically been very small scale due to its complexity in
implementation and its computation time requirement. At the same
time, such embedded technologies have become an enabler for future
manufacturing enterprisers as well as a transformer of organizations
and markets. In this work, we take advantage of these recent advances
in this area in the deployment of one of the most studied and applied
control technique in the industrial engineering. In this paper, we
propose an efficient firmware for the implementation of constrained
MPC in the performed STM32 microcontroller using interior point
method. Indeed, performances study shows good execution speed
and low computational burden. These results encourage to develop
predictive control algorithms to be programmed in industrial standard
processes. The PID anti windup controller was also implemented in
the STM32 in order to make a performance comparison with the
MPC. The main features of the proposed constrained MPC framework
are illustrated through two examples.