Abstract: While financial institutions have faced difficulties
over the years for a multitude of reasons, the major cause of serious
banking problems continues to be directly related to lax credit
standards for borrowers and counterparties, poor portfolio risk
management, or a lack of attention to changes in economic or other
circumstances that can lead to a deterioration in the credit standing of
a bank's counterparties. Credit risk is most simply defined as the
potential that a bank borrower or counterparty will fail to meet its
obligations in accordance with agreed terms. The goal of credit risk
management is to maximize a bank's risk-adjusted rate of return by
maintaining credit risk exposure within acceptable parameters. Banks
need to manage the credit risk inherent in the entire portfolio as well
as the risk in individual credits or transactions. Banks should also
consider the relationships between credit risk and other risks. The
effective management of credit risk is a critical component of a
comprehensive approach to risk management and essential to the
long-term success of any banking organization. In this research we
also study the relationship between credit risk indices and borrower-s
timely payback in Karafarin bank.
Abstract: In this paper we propose a robust environmental sound classification approach, based on spectrograms features driven from log-Gabor filters. This approach includes two methods. In the first methods, the spectrograms are passed through an appropriate log-Gabor filter banks and the outputs are averaged and underwent an optimal feature selection procedure based on a mutual information criteria. The second method uses the same steps but applied only to three patches extracted from each spectrogram.
To investigate the accuracy of the proposed methods, we conduct experiments using a large database containing 10 environmental sound classes. The classification results based on Multiclass Support Vector Machines show that the second method is the most efficient with an average classification accuracy of 89.62 %.
Abstract: This paper presents a new fingerprint coding technique
based on contourlet transform and multistage vector quantization.
Wavelets have shown their ability in representing natural images that
contain smooth areas separated with edges. However, wavelets
cannot efficiently take advantage of the fact that the edges usually
found in fingerprints are smooth curves. This issue is addressed by
directional transforms, known as contourlets, which have the
property of preserving edges. The contourlet transform is a new
extension to the wavelet transform in two dimensions using
nonseparable and directional filter banks. The computation and
storage requirements are the major difficulty in implementing a
vector quantizer. In the full-search algorithm, the computation and
storage complexity is an exponential function of the number of bits
used in quantizing each frame of spectral information. The storage
requirement in multistage vector quantization is less when compared
to full search vector quantization. The coefficients of contourlet
transform are quantized by multistage vector quantization. The
quantized coefficients are encoded by Huffman coding. The results
obtained are tabulated and compared with the existing wavelet based
ones.
Abstract: In this paper a bank of velocity filters is devised to be
used for isolating a moving object with specific velocity in a sequence of frames. The approach used is a 3-D FFT based experimental procedure without applying any theoretical concept
from velocity filters. Accordingly, velocity filters are built using the
spectral signature of each separate moving object. Experimentation
reveals the capabilities of the constructed filter bank to separate moving objects as far as the amplitude as well as the direction of the
velocity are concerned.
Abstract: This research was conducted in the Pua Watershed whereas located in the Upper Nan River Basin in Nan province, Thailand. Nan River basin originated in Nan province that comprises of many tributary streams to produce as inflow to the Sirikit dam provided huge reservoir with the storage capacity of 9510 million cubic meters. The common problems of most watersheds were found i.e. shortage water supply for consumption and agriculture utilizations, deteriorate of water quality, flood and landslide including debris flow, and unstable of riverbank. The Pua Watershed is one of several small river basins that flow through the Nan River Basin. The watershed includes 404 km2 representing the Pua District, the Upper Nan Basin, or the whole Nan River Basin, of 61.5%, 18.2% or 1.2% respectively. The Pua River is a main stream producing all year streamflow supplying the Pua District and an inflow to the Upper Nan Basin. Its length approximately 56.3 kilometers with an average slope of the channel by 1.9% measured. A diversion weir namely Pua weir bound the plain and mountainous areas with a very steep slope of the riverbed to 2.9% and drainage area of 149 km2 as upstream watershed while a mild slope of the riverbed to 0.2% found in a river reach of 20.3 km downstream of this weir, which considered as a gauged basin. However, the major branch streams of the Pua River are ungauged catchments namely: Nam Kwang and Nam Koon with the drainage area of 86 and 35 km2 respectively. These upstream watersheds produce runoff through the 3-streams downstream of Pua weir, Jao weir, and Kang weir, with an averaged annual runoff of 578 million cubic meters. They were analyzed using both statistical data at Pua weir and simulated data resulted from the hydrologic modeling system (HEC–HMS) which applied for the remaining ungauged basins. Since the Kwang and Koon catchments were limited with lack of hydrological data included streamflow and rainfall. Therefore, the mathematical modeling: HEC-HMS with the Snyder-s hydrograph synthesized and transposed methods were applied for those areas using calibrated hydrological parameters from the upstream of Pua weir with continuously daily recorded of streamflow and rainfall data during 2008-2011. The results showed that the simulated daily streamflow and sum up as annual runoff in 2008, 2010, and 2011 were fitted with observed annual runoff at Pua weir using the simple linear regression with the satisfied correlation R2 of 0.64, 062, and 0.59, respectively. The sensitivity of simulation results were come from difficulty using calibrated parameters i.e. lag-time, coefficient of peak flow, initial losses, uniform loss rates, and missing some daily observed data. These calibrated parameters were used to apply for the other 2-ungauged catchments and downstream catchments simulated.
Abstract: Every commercial bank optimises its asset portfolio
depending on the profitability of assets and chosen or imposed
constraints. This paper proposes and applies a stylized model for
optimising banks' asset and liability structure, reflecting profitability
of different asset categories and their risks as well as costs associated
with different liability categories and reserve requirements. The level
of detail for asset and liability categories is chosen to create a
suitably parsimonious model and to include the most important
categories in the model. It is shown that the most appropriate
optimisation criterion for the model is the maximisation of the ratio
of net interest income to assets. The maximisation of this ratio is
subject to several constraints. Some are accounting identities or
dictated by legislative requirements; others vary depending on the
market objectives for a particular bank. The model predicts variable
amount of assets allocated to loan provision.
Abstract: Since the 1980s, banks and financial service institutions have been running in an endless race of innovation to cope with the advancing technology, the fierce competition, and the more sophisticated and demanding customers. In order to guide their innovation efforts, several researches were conducted to identify the success and failure factors of new financial services. These mainly included organizational factors, marketplace factors and new service development process factors. They almost all emphasized the importance of customer and market orientation as a response to the highly perceptual and intangible characteristics of financial services. However, they deemphasized the critical characteristics of high involvement of risk and close correlation with the economic conditions, a factor that heavily contributed to the Global financial Crisis of 2008. This paper reviews the success and failure factors of new financial services. It then adds new perspectives emerging from the analysis of the role of innovation in the global financial crisis.
Abstract: The distribution, enrichment, accumulation, and potential ecological risk of copper (Cu) in the surface sediments of northern Kaohsiung Harbor, Taiwan were investigated. Sediment samples from 12 locations of northern Kaohsiung Harbor were collected and characterized for Cu, aluminum, water content, organic matter, total nitrogen, total phosphorous, total grease and grain size. Results showed that the Cu concentrations varied from 6.9–244 mg/kg with an average of 109±66 mg/kg. The spatial distribution of Cu reveals that the Cu concentration is relatively high in the river mouth region, and gradually diminishes toward the harbor entrance region. This indicates that upstream industrial and municipal wastewater discharges along the river bank are major sources of Cu pollution. Results from the enrichment factor and geo-accumulation index analyses imply that the sediments collected from the river mouth can be characterized between moderate and moderately severe degree enrichment and between none to medium and moderate accumulation of Cu, respectively. However, results of potential ecological risk index indicate that the sediment has low ecological potential risk.
Abstract: The purpose of this paper is to present two different
approaches of financial distress pre-warning models appropriate for
risk supervisors, investors and policy makers. We examine a sample
of the financial institutions and electronic companies of Taiwan
Security Exchange (TSE) market from 2002 through 2008. We
present a binary logistic regression with paned data analysis. With
the pooled binary logistic regression we build a model including
more variables in the regression than with random effects, while the
in-sample and out-sample forecasting performance is higher in
random effects estimation than in pooled regression. On the other
hand we estimate an Adaptive Neuro-Fuzzy Inference System
(ANFIS) with Gaussian and Generalized Bell (Gbell) functions and
we find that ANFIS outperforms significant Logit regressions in both
in-sample and out-of-sample periods, indicating that ANFIS is a
more appropriate tool for financial risk managers and for the
economic policy makers in central banks and national statistical
services.
Abstract: In this paper, we discuss the paradigm shift in bank
capital from the “gone concern" to the “going concern" mindset. We
then propose a methodology for pricing a product of this shift called
Contingent Capital Notes (“CoCos"). The Merton Model can
determine a price for credit risk by using the firm-s equity value as a
call option on those assets. Our pricing methodology for CoCos also
uses the credit spread implied by the Merton Model in a subsequent
derivative form created by John Hull et al . Here, a market implied
asset volatility is calculated by using observed market CDS spreads.
This implied asset volatility is then used to estimate the probability of
triggering a predetermined “contingency event" given the distanceto-
trigger (DTT). The paper then investigates the effect of varying
DTTs and recovery assumptions on the CoCo yield. We conclude
with an investment rationale.
Abstract: Every organization is continually subject to new damages and threats which can be resulted from their operations or their goal accomplishment. Methods of providing the security of space and applied tools have been widely changed with increasing application and development of information technology (IT). From this viewpoint, information security management systems were evolved to construct and prevent reiterating the experienced methods. In general, the correct response in information security management systems requires correct decision making, which in turn requires the comprehensive effort of managers and everyone involved in each plan or decision making. Obviously, all aspects of work or decision are not defined in all decision making conditions; therefore, the possible or certain risks should be considered when making decisions. This is the subject of risk management and it can influence the decisions. Investigation of different approaches in the field of risk management demonstrates their progress from quantitative to qualitative methods with a process approach.
Abstract: Sub-prime mortgage crisis which began in the US is
regarded as the most economic crisis since the Great Depression in the
early 20th century. Especially, hidden problems on efficient operation
of a business were disclosed at a time and many financial institutions
went bankrupt and filed for court receivership. The collapses of
physical market lead to bankruptcy of manufacturing and construction
businesses. This study is to analyze dynamic efficiency of construction
businesses during the five years at the turn of the global financial
crisis. By discovering the trend and stability of efficiency of a
construction business, this study-s objective is to improve
management efficiency of a construction business in the
ever-changing construction market. Variables were selected by
analyzing corporate information on top 20 construction businesses in
Korea and analyzed for static efficiency in 2008 and dynamic
efficiency between 2006 and 2010. Unlike other studies, this study
succeeded in deducing efficiency trend and stability of a construction
business for five years by using the DEA/Window model. Using the
analysis result, efficient and inefficient companies could be figured
out. In addition, relative efficiency among DMU was measured by
comparing the relationship between input and output variables of
construction businesses. This study can be used as a literature to
improve management efficiency for companies with low efficiency
based on efficiency analysis of construction businesses.
Abstract: Retention in the IT profession is critical for
organizations to stay competitive and operate reliably in the dynamic
business environment. Most organizations rely on compensation and
rewards as primary tools to enhance retention of employees. In this
quantitative survey-based study conducted at a large global bank, we
analyze the perceptions of 575 information technology (IT) software
professionals in India and Malaysia and find that fairness of rewards
has very little impact on retention likelihood. It is far more important
to actively involve employees in organizational activities. In
addition, our findings indicate that involvement is far more important
than information flow: the typical organizational communication to
keep employees informed.
Abstract: Electrical distribution systems are incurring large losses as the loads are wide spread, inadequate reactive power compensation facilities and their improper control. A comprehensive static VAR compensator consisting of capacitor bank in five binary sequential steps in conjunction with a thyristor controlled reactor of smallest step size is employed in the investigative work. The work deals with the performance evaluation through analytical studies and practical implementation on an existing system. A fast acting error adaptive controller is developed suitable both for contactor and thyristor switched capacitors. The switching operations achieved are transient free, practically no need to provide inrush current limiting reactors, TCR size minimum providing small percentages of nontriplen harmonics, facilitates stepless variation of reactive power depending on load requirement so as maintain power factor near unity always. It is elegant, closed loop microcontroller system having the features of self regulation in adaptive mode for automatic adjustment. It is successfully tested on a distribution transformer of three phase 50 Hz, Dy11, 11KV/440V, 125 KVA capacity and the functional feasibility and technical soundness are established. The controller developed is new, adaptable to both LT & HT systems and practically established to be giving reliable performance.
Abstract: Islamic banking is one the most blossoming doctrine in
economic system of the world. The Fast growing awareness about
Islamic financial system has brought strong feeling to Muslims to
confront the western interest-based economic cycle. The Islamic
economic system is emerging as a reliable alternative to the interest
based system. This study is proposed to ascertain the motivational
factors encouraging people to go for Islamic banking in Pakistan.
These pulsing factors are determined by generation of hypothesis that
there are certain factors which are urging people to opt Islamic
banking system and to see the differences in their ranking by applying
Friedman test. These factors include: Economically derived factors
such as stability of Islamic banks in crisis, profit and loss sharing
doctrine and equity sharing etc. This study also highlights the
religiously derived factors such as interest free banking, Shariah
tenets and supervisory of Islamic Shariah board and sociopsychological
factors.
Abstract: Properly sized capacitor banks are connected across induction motors for several reasons including power factor correction, reducing distortions, increasing capacity, etc. Total harmonic distortion (THD) and power factor (PF) are used in such cases to quantify the improvements obtained through connection of the external capacitor banks. On the other hand, one of the methods for assessing the motor internal condition is by the use of Park-s pattern analysis. In spite of taking adequate precautionary measures, the capacitor banks may sometimes malfunction. Such a minor fault in the capacitor bank is often not apparently discernible. This may however, give rise to substantial degradation of power factor correction performance and may also damage the supply profile. The case is more severe with the fact that the Park-s pattern gets distorted due to such external capacitor faults, and can give anomalous results about motor internal fault analyses. The aim of this paper is to present simulation and hardware laboratory test results to have an understanding of the anomalies in harmonic distortion and Park-s pattern analyses in induction motors due to capacitor bank defects.
Abstract: Wavelet transforms is a very powerful tools for image compression. One of its advantage is the provision of both spatial and frequency localization of image energy. However, wavelet transform coefficients are defined by both a magnitude and sign. While algorithms exist for efficiently coding the magnitude of the transform coefficients, they are not efficient for the coding of their sign. It is generally assumed that there is no compression gain to be obtained from the coding of the sign. Only recently have some authors begun to investigate the sign of wavelet coefficients in image coding. Some authors have assumed that the sign information bit of wavelet coefficients may be encoded with the estimated probability of 0.5; the same assumption concerns the refinement information bit. In this paper, we propose a new method for Separate Sign Coding (SSC) of wavelet image coefficients. The sign and the magnitude of wavelet image coefficients are examined to obtain their online probabilities. We use the scalar quantization in which the information of the wavelet coefficient to belong to the lower or to the upper sub-interval in the uncertainly interval is also examined. We show that the sign information and the refinement information may be encoded by the probability of approximately 0.5 only after about five bit planes. Two maps are separately entropy encoded: the sign map and the magnitude map. The refinement information of the wavelet coefficient to belong to the lower or to the upper sub-interval in the uncertainly interval is also entropy encoded. An algorithm is developed and simulations are performed on three standard images in grey scale: Lena, Barbara and Cameraman. Five scales are performed using the biorthogonal wavelet transform 9/7 filter bank. The obtained results are compared to JPEG2000 standard in terms of peak signal to noise ration (PSNR) for the three images and in terms of subjective quality (visual quality). It is shown that the proposed method outperforms the JPEG2000. The proposed method is also compared to other codec in the literature. It is shown that the proposed method is very successful and shows its performance in term of PSNR.
Abstract: Identity verification of authentic persons by their multiview faces is a real valued problem in machine vision. Multiview faces are having difficulties due to non-linear representation in the feature space. This paper illustrates the usability of the generalization of LDA in the form of canonical covariate for face recognition to multiview faces. In the proposed work, the Gabor filter bank is used to extract facial features that characterized by spatial frequency, spatial locality and orientation. Gabor face representation captures substantial amount of variations of the face instances that often occurs due to illumination, pose and facial expression changes. Convolution of Gabor filter bank to face images of rotated profile views produce Gabor faces with high dimensional features vectors. Canonical covariate is then used to Gabor faces to reduce the high dimensional feature spaces into low dimensional subspaces. Finally, support vector machines are trained with canonical sub-spaces that contain reduced set of features and perform recognition task. The proposed system is evaluated with UMIST face database. The experiment results demonstrate the efficiency and robustness of the proposed system with high recognition rates.
Abstract: In this paper we suggest a method for setting
electronic credits for the customers. In this method banks and
market-sites help each other to make doing large shopping through
internet so easy. By developing this system, the people who have less
money to buy most of the things they want, become able to buy all of
them just through a credit. This credit is given by market-sites
through a banking control on it. The method suggested can stop
being imprisoned because of banking debts.
Abstract: The purpose of this article is to analyze the
degree of concentration in the banking market in EU member
states as well as to determine the impact of the length of EU
membership on the degree of concentration. In that sense
several analysis were conducted, specifically, panel analysis,
calculation of correlation coefficient and regression analysis of
the impact of the length of EU membership on the degree of
concentration. Panel analysis was conducted to determine
whether there is a similar trend of concentration in three
groups of countries - countries with a low, moderate and high
level of concentration. The conducted panel analysis showed
that in EU countries with a moderate level of concentration,
the level of concentration decreases. The calculation of
correlation showed that, to some extent, with other influential
factors, the length of EU membership negatively affects the
market concentration of the banking market. Using the
regression analysis for investigation of the influence of the
length of EU membership on the level of concentration in the
banking sector in a particular country, the results reveal that
there is a negative effect of the length in EU membership on
market concentration, although it is not significantly influential
variable.