Abstract: Underpricing is one anomaly in initial public offerings
(IPO) literature that has been widely observed across different stock
markets with different trends emerging over different time periods.
This study seeks to determine how IPOs on the JSE performed on the
first day, first week and first month over the period of 1996-2011.
Underpricing trends are documented for both hot and cold market
periods in terms of four main sectors (cyclical, defensive, growth
stock and interest rate sensitive stocks). Using a sample of 360 listed
companies on the JSE, the empirical findings established that IPOs
on the JSE are significantly underpriced with an average market
adjusted first day return of 62.9%. It is also established that hot
market IPOs on the JSE are more underpriced than the cold market
IPOs. Also observed is the fact that as the offer price per share
increases above the median price for any given period, the level of
underpricing decreases substantially. While significant differences
exist in the level of underpricing of IPOs in the four different sectors
in the hot and cold market periods, interest rates sensitive stocks
showed a different trend from the other sectors and thus require
further investigation to uncover this pattern.
Abstract: The habitat where the present study has been carried
out is productive in relation to nutrient quality and they may perform
several useful functions, but are also threatened for their existence.
Hence, the proposed work, will add much new information about
biodiversity of macrophytes in drains and their embankment. All the
species were identified with their different stages of growth which
encountered on the three selected sites (I, II and III). The number of
species occurring at each site is grouped seasonally, i.e. summer,
rainy and winter season and the species were further recorded for the
study of phytosociology. Phytosociological characters such as
frequency, density and abundance were influenced by the climatic,
anthropogenic and biotic stresses prevailing at the three study sites.
All the species present at the study sites have shown maximum
values of frequency, density and abundance in rainy season in
comparison to that of summer and winter seasons.
Abstract: In this paper we analyze the core issues affecting
software architecture in enterprise projects where a large number of
people at different backgrounds are involved and complex business,
management and technical problems exist. We first give general
features of typical enterprise projects and then present foundations of
software architectures. The detailed analysis of core issues affecting
software architecture in software development phases is given. We
focus on three main areas in each development phase: people,
process, and management related issues, structural (product) issues,
and technology related issues. After we point out core issues and
problems in these main areas, we give recommendations for
designing good architecture. We observed these core issues and the
importance of following the best software development practices and
also developed some novel practices in many big enterprise
commercial and military projects in about 10 years of experience.
Abstract: In working mode some unexpected changes could
be arise in inner structure of electromagnetic device. They
influence modification in electromagnetic field propagation map.
The field values at an observed boundary are also changed. The
development of the process has to be watched because the arising
structural changes would provoke the device to be gone out later.
The probabilistic assessment of the state is possible to be made.
The numerical assessment points if the resulting changes have
only accidental character or they are due to the essential inner
structural disturbances.
The presented application example is referring to the 200MW
turbine-generator. A part of the stator core end teeth zone is
simulated broken. Quasi three-dimensional electromagnetic and
temperature field are solved applying FEM. The stator core state
diagnosis is proposed to be solved as an identification problem on
the basis of a statistical criterion.
Abstract: This study analyzed environmental health risks and
people-s perceptions of risks related to waste management in poor
settlements of Abidjan, to develop integrated solutions for health and
well-being improvement. The trans-disciplinary approach used relied
on remote sensing, a geographic information system (GIS),
qualitative and quantitative methods such as interviews and a
household survey (n=1800). Mitigating strategies were then
developed using an integrated participatory stakeholder workshop.
Waste management deficiencies resulting in lack of drainage and
uncontrolled solid and liquid waste disposal in the poor settlements
lead to severe environmental health risks. Health problems were
caused by direct handling of waste, as well as through broader
exposure of the population. People in poor settlements had little
awareness of health risks related to waste management in their
community and a general lack of knowledge pertaining to sanitation
systems. This unfortunate combination was the key determinant
affecting the health and vulnerability. For example, an increased
prevalence of malaria (47.1%) and diarrhoea (19.2%) was observed
in the rainy season when compared to the dry season (32.3% and
14.3%). Concerted and adapted solutions that suited all the
stakeholders concerned were developed in a participatory workshop
to allow for improvement of health and well-being.
Abstract: The objective of this work is to investigate the
turbulent reacting flow in a three dimensional combustor with
emphasis on the effect of inlet swirl flow through a numerical
simulation. Flow field is analyzed using the SIMPLE method which is
known as stable as well as accurate in the combustion modeling, and
the finite volume method is adopted in solving the radiative transfer
equation. In this work, the thermal and flow characteristics in a three
dimensional combustor by changing parameters such as equivalence
ratio and inlet swirl angle have investigated. As the equivalence ratio
increases, which means that more fuel is supplied due to a larger inlet
fuel velocity, the flame temperature increases and the location of
maximum temperature has moved towards downstream. In the mean
while, the existence of inlet swirl velocity makes the fuel and
combustion air more completely mixed and burnt in short distance.
Therefore, the locations of the maximum reaction rate and temperature
were shifted to forward direction compared with the case of no swirl.
Abstract: This is a survey research using quantitative and qualitative methodology. There were three objectives: 1) To study participatory level of community in water and waste environment management. 2) To study the affecting factors for community participation in water and waste environment management in Ampawa District, Samut Songkram Province. 3) To search for the participatory patterns in water and waste management. The population sample for the quantitative research was 1,364 people living in Ampawa District. The methodology was simple random sampling. Research instrument was a questionnaire and the qualitative research used purposive sampling in 6 Sub Districts which are Ta Ka, Suanluang, Bangkae, Muangmai, Kwae-om, and Bangnanglee Sub District Administration Organization. Total population is 63. For data analysis, the study used content analysis from quantitative research to synthesize and build question frame from the content for interview and conducting focus group interview. The study found that the community participatory in the issue of level in water and waste management are moderate of planning, operation, and evaluation. The issue of being beneficial is at low level. Therefore, the overall participatory level of community in water and waste environment management is at a medium level. The factors affecting the participatory of community in water and waste management are age, the period dwelling in the community and membership in which the mean difference is statistic significant at 0.05 in area of operation, being beneficial, and evaluation. For patterns of community participation, there is the correlation with water and waste management in 4 concerns which are 1) Participation in planning 2) Participation in operation 3) Participation in being beneficial both directly and indirectly benefited 4) Participation in evaluation and monitoring. The recommendation from this study is the need to create conscious awareness in order to increase participation level of people by organizing activities that promote participation with volunteer spirit. Government should open opportunities for people to participate in sharing ideas and create the culture of living together with equality which would build more concrete participation.
Abstract: Mobile IPv6 (MIPv6) describes how mobile node can change its point of attachment from one access router to another. As a demand for wireless mobile devices increases, many enhancements for macro-mobility (inter-domain) protocols have been proposed, designed and implemented in Mobile IPv6. Hierarchical Mobile IPv6 (HMIPv6) is one of them that is designed to reduce the amount of signaling required and to improve handover speed for mobile connections. This is achieved by introducing a new network entity called Mobility Anchor Point (MAP). This report presents a comparative study of the Hierarchical Mobility IPv6 and Mobile IPv6 protocols and we have narrowed down the scope to micro-mobility (intra-domain). The architecture and operation of each protocol is studied and they are evaluated based on the Quality of Service (QoS) parameter; handover latency. The simulation was carried out by using the Network Simulator-2. The outcome from this simulation has been discussed. From the results, it shows that, HMIPv6 performs best under intra-domain mobility compared to MIPv6. The MIPv6 suffers large handover latency. As enhancement we proposed to HMIPv6 to locate the MAP to be in the middle of the domain with respect to all Access Routers. That gives approximately same distance between MAP and Mobile Node (MN) regardless of the new location of MN, and possible shorter distance. This will reduce the delay since the distance is shorter. As a future work performance analysis is to be carried for the proposed HMIPv6 and compared to HMIPv6.
Abstract: The dramatic increasing of sea-freight container
transportations and the developing trends for using containers in the
multimodal handling systems through the sea, rail, road and land in
nowadays market cause general managers of container terminals to
face challenges such as increasing demand, competitive situation,
new investments and expansion of new activities and need to use new
methods to fulfil effective operations both along quayside and within
the yard. Among these issues, minimizing the turnaround time of
vessels is considered to be the first aim of every container port
system. Regarding the complex structure of container ports, this
paper presents a simulation model that calculates the number of
trucks needed in the Iranian Shahid Rajaee Container Port for
handling containers between the berth and the yard. In this research,
some important criteria such as vessel turnaround time, gantry crane
utilization and truck utilization have been considered. By analyzing
the results of the model, it has been shown that increasing the number
of trucks to 66 units has a significant effect on the performance
indices of the port and can increase the capacity of loading and
unloading up to 10.8%.
Abstract: The Multi-Layered Perceptron (MLP) Neural
networks have been very successful in a number of signal processing
applications. In this work we have studied the possibilities and the
met difficulties in the application of the MLP neural networks for the
prediction of daily solar radiation data. We have used the Polack-Ribière algorithm for training the neural networks. A comparison, in
term of the statistical indicators, with a linear model most used in
literature, is also performed, and the obtained results show that the
neural networks are more efficient and gave the best results.
Abstract: Condition monitoring of electrical power equipment
has attracted considerable attention for many years. The aim of this
paper is to use Labview with Fuzzy Logic controller to build a
simulation system to diagnose transformer faults and monitor its
condition. The front panel of the system was designed using
LabVIEW to enable computer to act as customer-designed
instrument. The dissolved gas-in-oil analysis (DGA) method was
used as technique for oil type transformer diagnosis; meanwhile
terminal voltages and currents analysis method was used for dry type
transformer. Fuzzy Logic was used as expert system that assesses all
information keyed in at the front panel to diagnose and predict the
condition of the transformer. The outcome of the Fuzzy Logic
interpretation will be displayed at front panel of LabVIEW to show
the user the conditions of the transformer at any time.
Abstract: In this paper multivariable predictive PID controller has
been implemented on a multi-inputs multi-outputs control problem
i.e., quadruple tank system, in comparison with a simple multiloop
PI controller. One of the salient feature of this system is an
adjustable transmission zero which can be adjust to operate in both
minimum and non-minimum phase configuration, through the flow
distribution to upper and lower tanks in quadruple tank system.
Stability and performance analysis has also been carried out for this
highly interactive two input two output system, both in minimum
and non-minimum phases. Simulations of control system revealed
that better performance are obtained in predictive PID design.
Abstract: In current common research reports, salient regions
are usually defined as those regions that could present the main
meaningful or semantic contents. However, there are no uniform
saliency metrics that could describe the saliency of implicit image
regions. Most common metrics take those regions as salient regions,
which have many abrupt changes or some unpredictable
characteristics. But, this metric will fail to detect those salient useful
regions with flat textures. In fact, according to human semantic
perceptions, color and texture distinctions are the main characteristics
that could distinct different regions. Thus, we present a novel saliency
metric coupled with color and texture features, and its corresponding
salient region extraction methods. In order to evaluate the
corresponding saliency values of implicit regions in one image, three
main colors and multi-resolution Gabor features are respectively used
for color and texture features. For each region, its saliency value is
actually to evaluate the total sum of its Euclidean distances for other
regions in the color and texture spaces. A special synthesized image
and several practical images with main salient regions are used to
evaluate the performance of the proposed saliency metric and other
several common metrics, i.e., scale saliency, wavelet transform
modulus maxima point density, and important index based metrics.
Experiment results verified that the proposed saliency metric could
achieve more robust performance than those common saliency
metrics.
Abstract: The present paper presents a finite element model and
analysis for the interaction between a piezoresistive tactile sensor and
biological tissues. The tactile sensor is proposed for use in minimally
invasive surgery to deliver tactile information of biological tissues to
surgeons. The proposed sensor measures the relative hardness of soft
contact objects as well as the contact force. Silicone rubbers were
used as the phantom of biological tissues. Finite element analysis of
the silicone rubbers and the mechanical structure of the sensor were
performed using COMSOL Multiphysics (v3.4) environment. The
simulation results verify the capability of the sensor to be used to
differentiate between different kinds of silicone rubber materials.
Abstract: In this paper, creep constitutive equations of base
(Parent) and weld materials of the weldment for cold-drawn 304L
stainless steel have been obtained experimentally. For this purpose,
test samples have been generated from cold drawn bars and weld
material according to the ASTM standard. The creep behavior and
properties have been examined for these materials by conducting uniaxial
creep tests. Constant temperatures and constant load uni-axial
creep tests have been carried out at two high temperatures, 680 and
720 oC, subjected to constant loads, which produce initial stresses
ranging from 240 to 360 MPa. The experimental data have been used
to obtain the creep constitutive parameters using numerical
optimization techniques.
Abstract: The epoxidation of soybean oil at temperature of 600C
was provided the best result in terms of attaching the –OH
functionality. Temperatures below and above 600C it is likely the
attaching reaction did not proceed sufficiently fast. The considerable
yield below 40%, implies the oil is not completely converted, it is not
possible by conventional methods, because the epoxide decomposes
at the temperature required. The objective of this work was the
development of catalyst toward the conversion of epoxide and polyol
with reaction temperature at 50,60, and 700C. The effect of different
type of catalyst were studied, the effect of alcohols with different
molecular configuration was determined which leads to selective
addition of alcohols to the epoxide oils.
Abstract: Complexity, as a theoretical background has made it
easier to understand and explain the features and dynamic behavior
of various complex systems. As the common theoretical background
has confirmed, borrowing the terminology for design from the
natural sciences has helped to control and understand urban
complexity. Phenomena like self-organization, evolution and
adaptation are appropriate to describe the formerly inaccessible
characteristics of the complex environment in unpredictable bottomup
systems. Increased computing capacity has been a key element in
capturing the chaotic nature of these systems.
A paradigm shift in urban planning and architectural design has
forced us to give up the illusion of total control in urban
environment, and consequently to seek for novel methods for
steering the development. New methods using dynamic modeling
have offered a real option for more thorough understanding of
complexity and urban processes. At best new approaches may renew
the design processes so that we get a better grip on the complex
world via more flexible processes, support urban environmental
diversity and respond to our needs beyond basic welfare by liberating
ourselves from the standardized minimalism.
A complex system and its features are as such beyond human
ethics. Self-organization or evolution is either good or bad. Their
mechanisms are by nature devoid of reason. They are common in
urban dynamics in both natural processes and gas. They are features
of a complex system, and they cannot be prevented. Yet their
dynamics can be studied and supported.
The paradigm of complexity and new design approaches has been
criticized for a lack of humanity and morality, but the ethical
implications of scientific or computational design processes have not
been much discussed. It is important to distinguish the (unexciting)
ethics of the theory and tools from the ethics of computer aided
processes based on ethical decisions. Urban planning and architecture
cannot be based on the survival of the fittest; however, the natural
dynamics of the system cannot be impeded on grounds of being
“non-human".
In this paper the ethical challenges of using the dynamic models
are contemplated in light of a few examples of new architecture and
dynamic urban models and literature. It is suggested that ethical
challenges in computational design processes could be reframed
under the concepts of responsibility and transparency.
Abstract: The segmentation of endovascular tools in fluoroscopy images can be accurately performed automatically or by minimum user intervention, using known modern techniques. It has been proven in literature, but no clinical implementation exists so far because the computational time requirements of such technology have not yet been met. A classical segmentation scheme is composed of edge enhancement filtering, line detection, and segmentation. A new method is presented that consists of a vector that propagates in the image to track an edge as it advances. The filtering is performed progressively in the projected path of the vector, whose orientation allows for oriented edge detection, and a minimal image area is globally filtered. Such an algorithm is rapidly computed and can be implemented in real-time applications. It was tested on medical fluoroscopy images from an endovascular cerebral intervention. Ex- periments showed that the 2D tracking was limited to guidewires without intersection crosspoints, while the 3D implementation was able to cope with such planar difficulties.
Abstract: Applicability of tuning the controller gains for Stewart manipulator using genetic algorithm as an efficient search technique is investigated. Kinematics and dynamics models were introduced in detail for simulation purpose. A PD task space control scheme was used. For demonstrating technique feasibility, a Stewart manipulator numerical-model was built. A genetic algorithm was then employed to search for optimal controller gains. The controller was tested onsite a generic circular mission. The simulation results show that the technique is highly convergent with superior performance operating for different payloads.
Abstract: The use of the oncologic index ISTER allows for a more effective planning of the radiotherapic facilities in the hospitals. Any change in the radiotherapy treatment, due to unexpected stops, may be adapted by recalculating the doses to the new treatment duration while keeping the optimal prognosis. The results obtained in a simulation model on millions of patients allow the definition of optimal success probability algorithms.