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European Nordic Countries Stock Market Listed Companies’: Factor and Cluster Analysis Approach
Aija Pilvere-Javorska;
Irina Pilvere
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01244
Public financial markets are crucial in the access to the funding and as a platform for investments to the investors in today’s world. Nordic European Union countries such as Sweden, Finland and Denmark are considered to have advanced and well-developed stock markets, while neighboring three Baltic States have rather small stock market. Backbone of the stock market are there listed companies. In this analysis authors attempt to analyze 510 Nordic countries listed companies’ absolute value indicators using factor and cluster analysis and to compare results with similar analysis of the Baltic States. Factor and cluster analysis revealed the homogeneity of Nordic countries stock market listed companies’ absolute values, authors obtained three complex factors, explaining 89% of dispersion within the indicators, which in turn resulted in being able to obtain the portrait of Nordic States stock market listed company. Similar results were obtained for Baltic States listed companies, though on different scale. Authors have not seen as detailed analysis of Nordic Stock market on the level of listed companies financial statement analysis. Time period covered in this research of the financials are from 2004 to 2018. The analysis could be beneficial for other researchers focusing on the Nordic region stock market companies and also to the policy makers in the Baltic States, how the neighboring well-developed countries indicators could be interpreted and obtained results used for the enhancement of Baltic States stock market. Doi: 10.28991/esj-2020-01244 Full Text: PDF
Estimation of Residential Property Market Price: Comparison of Artificial Neural Networks and Hedonic Pricing Model
Štubňová, Michaela;
UrbanÃková, Marta;
Hudáková, Jarmila;
Papcunová, Viera
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01250
The correct real estate property price estimation is significant not only in the real estate market but also in the banking sector for collateral loans and the insurance sector for property insurance. The paper focuses on both traditional and advanced methods for real estate property valuation. Attention is paid to the analysis of the accuracy of valuation models. From traditional methods, a regression model is used for residential property price estimation, which represents the hedonic approach. Modern advanced valuation methods are represented by the artificial neural network, which is one of the soft computing techniques. The results of both methods in residential property market price estimation are compared. The analysis is performed using data on residential properties sold on the real estate market in the city of Nitra in the Slovak Republic. To estimate the residential property prices, artificial neural networks trained with the Levenberg-Marquart learning algorithm, the Bayesian Regularization learning algorithm, and the Scaled Conjugate Gradient learning algorithm, and the regression pricing model are used. Among the constructed neural networks, the best results are achieved with networks trained with the Regularization learning algorithm with two hidden layers. Its performance is compared with the performance of the regression pricing model, and it can state that artificial neural networks can considerably improve prediction accuracy in the estimation of residential property market price. Doi: 10.28991/esj-2020-01250 Full Text: PDF
Current and Historical Application of Knowledge Management in Economy
Tomé, Eduardo
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01245
Objectives: The paper tries to analyse the current and historical application of Knowledge Management in the Portuguese Economy, particularly since the democratic revolution of 1974. Methods/Analysis: Study is based in theories about the impacts of knowledge in countries at a micro and a macro scale. A three levels mode is used, related to context (namely 1) Historical background; 2) basic economic and social data: 3) broad vocational education and training (VET) systems; 4) institutional actors; 5) political context), intervention (namely 1) basic legislative documents, 2) guidelines on eligibility, 3) programs, 4) evaluation procedures) and outcomes (namely 1) stocks, investment, and outcomes; 2) price, quantity, supply, demand, equilibria; 3) needs). Data used are statistical published data and other published documents. Findings: The context changed for the better, because after 1974 the country rulers installed a regime in which knowledge was not seen like a luxury but as a basic need; the change in context was also helped by the adhesion to the EU, which in turn led to massive interventions supported by funds like the ESF and the Regional fund; as a result outcomes are finally seen, as the increase in supply and demand of knowledge and also in the income and employability of the Portuguese attests. Novelty/Improvement These findings are important because they depict the slow but sure transformation of Portugal into a Knowledge Economy. Should be complemented by a more detailed analysis, with a larger group of researchers. Doi: 10.28991/esj-2020-01245 Full Text: PDF
Assessment of the Use of Renewable Energy Sources for the Charging Infrastructure of Electric Vehicles
A. D. Gorbunova;
I. A. Anisimov
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01251
Application of renewable energy sources is a relevant area of energy supply for urban infrastructure. In 2019, the share of energy produced by such sources reached 11% (for solar energy) and 22% (for wind energy) of the total energy produced during the year. However, these systems require an improvement in their efficiency that can be achieved by introducing electric vehicles. They can accumulate, store and transfer surplus energy to the city’s power grid. A solution to this problem is a smart charging infrastructure. The existing studies in the field of charging infrastructure organization for electric vehicles consider only models locating charging stations in the city or the calculation of their required number. These calculations are based on socio-economic factors and images of a potential owner of an electric vehicle. Therefore, the aim of this study is to develop a methodology for determining the location of charging stations and their required number. The calculation will include the operating features of the existing charging infrastructure, which has not been done before. Thus, the purpose of this article is to research the operation of the existing charging infrastructure. This will provide an opportunity to develop approaches to the energy supply of charging infrastructure and city’s power grid from renewable energy sources. The article presents an analysis of data on the number of charging sessions during the year, month and day. This data enable us to construct curves of the charging session number and suggest ways to conduct the next stages of this study. Doi: 10.28991/esj-2020-01251 Full Text: PDF
Analysis of Host Resources Utilization by OpenStack in Ubuntu Environment
Suryateja Satya Pericherla
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01246
Cloud computing is one of the frontier technologies, which over the last decade has gained a widespread commercial and educational user base. OpenStack is one of the popular open source cloud management platforms for establishing a private or public Infrastructure-as-a-Service (IAAS) cloud. Although OpenStack started with very few core modules, it now houses nearly 38 modules and is quite complex. Such a complex software bundle is bound to have an impact on the underlying hardware utilization of the host system. The objective is to monitor the usage of system resources by OpenStack on commodity hardware. This paper analyzes the effect of OpenStack on the host machine's hardware. An extensive empirical evaluation has been done on different types of hardware, at different virtualization levels and with different flavours of operating systems comparing the CPU utilization, memory consumption, disk I/O, network, and I/O requests. OpenStack was deployed using Devstack on a single node. The novel aspect of this work is monitoring the resource usage by OpenStack without creating virtual machines on commodity hardware. From the analysis of data, it is observed that standalone machine with Ubuntu server operating system is the least effected by OpenStack and thereby has more available resources for computation of user workloads. Doi: 10.28991/esj-2020-01246 Full Text: PDF
Effect of Admixtures on Durability Characteristics of Fly Ash Alkali-activated Material
Lukáš Procházka;
Jana Boháčová
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01247
This paper deals with the possibility of partial replacement of blast furnace slag with fly ash and fly ash after denitrification by SNCR method in alkali-activated materials based on granulated blast furnace slag. The aim of this paper is to verify the effect of fly ash on properties of alkali-activated materials based on blast furnace granulated slag. Frost resistance and resistance to aggressive environments, represented by demineralized water were tested. The reference mixture was based on blast furnace granulated slag activated by sodium water glass with silicate modulus of 2. Mixtures with an ash content of 10, 20, and 30% were then compared with the reference mixture. The influence of the denitrification process on fly ash and its use in mixed alkali activated materials was also compared. As a part of the experiment, alkali-activated pastes were also prepared. Infrared spectroscopy with Furier transformation was subsequently determined on these pastes. The reference mixture achieved the highest compressive strength in the experiment and the strength decreased with increasing amount of fly ash. In terms of flexural strength, the highest values were reached for mixtures with 10% slag replacement by fly ash. In the case of frost resistance, the significant increase of flexural strength, which was 50% for the reference mixture, is particularly interesting. For compressive strength, the frost resistance coefficient ranged from 0.95 to 1.00. In the case of resistance to aggressive environments, no differences were observed in the compressive strength, on the other hand, flexural strength decrease of up to 20% was detected for 10 and 20 percent replacement of slag with fly ash that did not undergo denitrification. Monitored properties did not show any negative effect of the denitrification process on fly ash properties. Infrared spectroscopy identified the main hydration product in the region of 945 cm-1which is a C-(A)-S-H gel and in combined mixtures with fly ash also N-A-S-H gel. Doi: 10.28991/esj-2020-01247 Full Text: PDF
Non-Hermitian Hamiltonian Treatment of Stark Effect in Quantum Mechanics
Randal Hallford;
Preet Sharma
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01242
The Non-Hermitian aspect of Quantum Mechanics has been of great interest recently. There have been numerous studies on non-Hermitian Hamiltonians written for natural processes. Some studies have even expressed the hydrogen atom in a non-Hermitian basis. In this paper the principles of non-Hermitian quantum mechanics is applied to both the time independent perturbation theory and to the time dependant theory to calculate the Stark effect. The principles of spherical harmonics has also been used to describe the development in the non-Hermitian case. Finally, the non-Hermitian aspect has been introduced to the well known Stark effect in quantum mechanics to find a condition in which the Stark effect will still be true even if a non-Hermitian Hamiltonian is used. This study completes the understanding at a fundamental level to understand the well known Stark effect. Doi: 10.28991/esj-2020-01242 Full Text: PDF
Fictional Proto-architecture as an Introduction to Biologic Design: Challenging the Concept of Morphogenesis of Neo-architectural Organism
Andreea Felciuc
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01248
The architecture is based on a dialectical search for new ways of matter representation. We deal with the form of contemporary architecture under two approaches: expression and content. The article examines how mathematical principles based on natural growth can be applied in architectural design to create a dynamic, not static, structure. The dynamic process of the cell and its growth provides the basic structure. The continuity of the domain is exemplified by the impact of the new forms on the society that has already begun to emerge from the obscurity. The paper argues that without a deeper and more receptive connection between geometry and performance from a bio-morphogenetic perspective of complex systems. The experimental design methods are applied both to generate and to evaluate an architecture of the futuristic lines. These methodological frameworks focus on cyclically restated themes in the field of parametrises, which are identified as endemic to architecture: the realization of buildings, of multifunctional volumes and customized per se through a gradual approach of the architectural properties and the exploitation of a "concept construction" integrated as a process, obtained through innovative modelling environments. And so, and the reconstruction of architecture as an organ of nature is demonstrated. The new vanguard of proto architecture describes difficulties and inconsistencies in the relationship between theories and structures, difficulties arising from the very idea of "virtually" itself. It becomes difficult to say that a drawing in cyberspace is an architectural form or just a graph of architectural theory; in the virtual space, there is no difference between the particular structure and the general principle. Therefore, the form is first designed, only after to be constructed. Naturally, it is impossible (theoretically or technically) for design and construction processes to take place simultaneously. Predictably, bio-morphosis leads to multiple forms of expression, defined and transmitted in geometric terms. Doi: 10.28991/esj-2020-01248 Full Text: PDF
Impact of Typeface and Colour Combinations on LCD Display Legibility
Gregor Franken;
Maruša Pangerc;
Klementina Možina
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01243
The evolution of high resolution displays, especially liquid crystal displays (LCD), which are among the most commonly used ones, has contributed to a larger number of display readers. Regardless of high resolutions, problems in the legibility of typefaces still occur. Many typefaces may well be readable in print, but cause more difficulties when being read on displays. The aim of this study was to examine the influence of colour contrast on the legibility on LCDs to establish which type style is appropriate for a coloured text to be legible. Two different typefaces specially designed for display use were tested in a satisfactory light-dark contrast of five different colour combinations. The reading speed and fixations were analysed with an eye-tracking device Tobii 120X. Different texts were displayed on an LCD display. The results showed that the selection of a particular colour combination and contrast greatly affects the reading speed and legibility. Less visible colour combinations of text and background were read more slowly than the more contrasting or visible ones in both typefaces. At both typefaces, it was seen that at a slower reading speed, more fixations were needed and vice-versa. A transitional typeface gave a faster reading speed than a sans-serif typeface. An appropriate contrast, colour combination and used typography can facilitate legibility on displays. Doi: 10.28991/esj-2020-01243 Full Text: PDF
Explanatory Factors of the Capital Structure
Marta Silva;
Luís Pereira Gomes;
Isabel Cristina Lopes
Emerging Science Journal Vol 4, No 6 (2020): December
Publisher : Ital Publication
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DOI: 10.28991/esj-2020-01249
This paper presents an empirical study of the capital structure of Portuguese companies where the main objective is to find key explanatory factors for indebtedness decisions. The relations between indebtedness and its determinants are tested in the light of the Trade-Off Theory and the Pecking-Order Theory. The motivation of this work was to contribute to the scientific research on the influential determinants of the capital structure and to deepen the knowledge of the Portuguese market. The quantitative methodology is used, through an econometric model for panel data using accounting information of 55 Portuguese companies between 2014 and 2016. Statistical tests such as the F test, the Lagrange Multiplier Breusch-Pagan test and the Hausman test were used to identify the most appropriate method of estimation, which resulted in a panel data model with random effects for individuals. The findings of this study suggest that indebtedness have a positive relation with tangibility and the size of the company, which supports the Trade-Off Theory. However, the positive relationship with the non-debt tax benefits suggests the importance of taxes, contrary to Trade-Off Theory. The negative relationship with cash flows, coupled with the positive relationships between size and growth opportunities, suggest the use of funding only when internal funds become insufficient, supporting the Pecking-Order Theory. The general results support that both theories partially explain the financing decisions of Portuguese companies. Doi: 10.28991/esj-2020-01249 Full Text: PDF