Savings operations with random commencement and conclusion

2019 ◽  
Vol 20 (5) ◽  
pp. 520-541
Author(s):  
María del Carmen Valls Martínez ◽  
Salvador Cruz Rambaud ◽  
Emilio Abad Segura
Keyword(s):  
Pension Plans ◽  
Point Of View ◽  
Added Value ◽  
Content Type ◽  
Practical Applications ◽  
Proposed Model ◽  
Wide Range ◽  
New Type ◽  
Private Savings ◽  
Public Pension Plans

Purpose The progressive aging of the population is suggesting that public pension plans should be increasingly supplemented by private savings schemes. Accordingly, this supposes the appearance of a wide range of innovative savings products to meet the varying needs of savers and financial institutions. In practice, most contracted savings operations are nonrandom, that is to say, all amounts involved in the transaction are sure as well as their respective maturities. Consequently, the purpose of this paper is to propose a savings operation which includes the randomness derived from the contingencies which suppose the eventual but unpredictable death of the saver and a person designated by him to receive the final agreed amount. Design/methodology/approach The methodology used in this paper is financial mathematics where the risk has been introduced as an element which defines the main characteristics of this novel saving operation. Findings The proposed model extends the range of savings products by describing an actual innovation with new practical applications with respect to the traditional models of saving. In this paper, the authors have proposed a new type of saving based on the contingency derived from the life expectancy of the saver, by raising an operation in which the commencement and conclusion of the savings period are random. These savings operations represent, undoubtedly, a novelty from a financial point of view. Originality/value The main added value of this paper is that these contingencies affect the periodic deposits in each period from the first to the last maturities of installments. Moreover, the different parameters of such random transactions are defined.

Goal programming optimization model under uncertainty and the critical areas characterization in humanitarian logistics management

2019 ◽  
Vol 9 (1) ◽  
pp. 82-107 ◽  
Author(s):  
Mario Chong ◽  
Juan G. Lazo Lazo ◽  
Maria Cristina Pereda ◽  
Juan Manuel Machuca De Pina
Keyword(s):  
Decision Making ◽  
Disaster Management ◽  
Low Income ◽  
Point Of View ◽  
Decision Makers ◽  
Humanitarian Crisis ◽  
Content Type ◽  
Critical Areas ◽  
Proposed Model ◽  
Wide Range

Purpose The purpose of this paper is to improve disaster management models, have an optimal distribution of assets, reduce human suffering in a crisis and find a good solution for warehouse locations, distribution points, inventory levels and costs, considering the uncertainty of a wide range of variables, to serve as a support model for decision making in real situations. Design/methodology/approach A model is developed based on the recent models. It includes structured and non-structured data (historical knowledge) from a humanitarian perspective. This model considers the uncertainty in a landslide and flood area and it is applied in a representative Peruvian city. Findings The proposed model can be used to determine humanitarian aid supply and its distribution with uncertainty, regarding the affected population and its resilience. This model presents a different point of view from the efficiency of the logistics perspective, to identify the level of trust between all the stakeholders (public, private and academic). The finding provides a new insight in disaster management to cover the gap between applied research and human behavior in crisis. Research limitations/implications In this study the access of reliable information is limited. Practical implications This paper provides an operation model with uncertainty in a humanitarian crisis and a decision-making tool with some recommendation for further public policies. Originality/value This study presents a model for decision makers in a low-income zone and highlights the importance of preparedness in the humanitarian system. This paper expands the discussion of how the mathematical models and human behaviors interact with different perspectives in a humanitarian crisis.

scholarly journals Enzyme catalysis as a chain reaction

1991 ◽  
Vol 279 (3) ◽  
pp. 855-861 ◽  
Author(s):  
S E Szedlacsek ◽  
R G Duggleby ◽  
M O Vlad
Keyword(s):  
Reaction Mechanism ◽  
Kinetic Mechanism ◽  
Point Of View ◽  
Simple Type ◽  
Chain Reaction ◽  
Proposed Model ◽  
New Type ◽  
A Chain ◽  
Theoretical Considerations ◽  
Classical Mechanism

A new type of enzyme kinetic mechanism is suggested by which catalysis may be viewed as a chain reaction. A simple type of one-substrate/one-product reaction mechanism has been analysed from this point of view, and the kinetics, in both the transient and the steady-state phases, has been reconsidered. This analysis, as well as literature data and theoretical considerations, shows that the proposed model is a generalization of the classical ones. As a consequence of the suggested mechanism, the expressions, and in some cases even the significance of classical constants (Km and Vmax.), are altered. Moreover, this mechanism suggests that, between two successive enzyme-binding steps, more than one catalytic act could be accomplished. The reaction catalysed by alcohol dehydrogenase was analysed, and it was shown that this chain-reaction mechanism has a real contribution to the catalytic process, which could become exclusive under particular conditions. Similarly, the mechanism of glycogen phosphorylase is considered, and two partly modified versions of the classical mechanism are proposed. They account for both the existing experimental facts and suggest the possibility of chain-reaction pathways for any polymerase.

Uncertainty and grey data analytics

2019 ◽  
Vol 2 (2) ◽  
pp. 73-86 ◽  
Author(s):  
Yingjie Yang ◽  
Sifeng Liu ◽  
Naiming Xie
Keyword(s):  
Social Life ◽  
Data Analytics ◽  
Radical Change ◽  
Point Of View ◽  
Small Data ◽  
Content Type ◽  
Proposed Model ◽  
Uncertainty Models ◽  
First Time ◽  
Practical Implications

Purpose The purpose of this paper is to propose a framework for data analytics where everything is grey in nature and the associated uncertainty is considered as an essential part in data collection, profiling, imputation, analysis and decision making. Design/methodology/approach A comparative study is conducted between the available uncertainty models and the feasibility of grey systems is highlighted. Furthermore, a general framework for the integration of grey systems and grey sets into data analytics is proposed. Findings Grey systems and grey sets are useful not only for small data, but also big data as well. It is complementary to other models and can play a significant role in data analytics. Research limitations/implications The proposed framework brings a radical change in data analytics. It may bring a fundamental change in our way to deal with uncertainties. Practical implications The proposed model has the potential to avoid the mistake from a misleading data imputation. Social implications The proposed model takes the philosophy of grey systems in recognising the limitation of our knowledge which has significant implications in our way to deal with our social life and relations. Originality/value This is the first time that the whole data analytics is considered from the point of view of grey systems.

Application of conjoint analysis to the optimum design for fabric printing patterns

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chiahsu Lin ◽  
Ya-Ching Wang
Keyword(s):  
Conjoint Analysis ◽  
Optimum Design ◽  
Design Method ◽  
Group Discussions ◽  
Pattern Design ◽  
Content Type ◽  
Practical Applications ◽  
Design Attributes ◽  
Wide Range ◽  
Primary Pattern

Purpose The purpose of this paper is to construct the best combination of fabric printing pattern’s attributes to obtain the optimum design to meet the markets need. Design/methodology/approach This study reviewed the morphological analysis of fashion design expert groups regarding the fashionable fabric printing patterns, as well as the attribute preferences for different groups of fabric printing patterns through focus group discussions. In addition, the conjoint analysis was used to calculate the part-worth of these patterns’ design attributes and design levels to obtain the optimum design for fabric printing patterns. Findings The results of this study showed that the most importance of fabric attributes is the secondary pattern (32.59 percent), while the weights of shading element (24.80 percent) and primary pattern (24.46 percent) are almost the same. This study found that a wide range of intertwining image primary pattern can be applied to create interesting and popular fabric printing pattern designs. In practical applications of this result, when the primary pattern is supported by the buyer, fabric designers may use New Classic composite plants, with simple shading and different cycling configuration, to reproduce the optimum designs of the fabric printing patterns. Originality/value This proposed a novel solution to figure out the combination basis for optimizing fabric printing pattern designs. In addition, this result helps fabric printing pattern designers to establish an optimal design method for a specific brand to create a unique printing pattern design.

Time to change: the added value of an integrative approach to career research

2014 ◽  
Vol 19 (6) ◽  
pp. 718-730 ◽  
Author(s):  
Françoise Dany
Keyword(s):  
Traditional Approach ◽  
Added Value ◽  
Integrative Approach ◽  
Career Experiences ◽  
Career Theory ◽  
Content Type ◽  
Individual Agency ◽  
Wide Range ◽  
Career Literature ◽  
Career Research

Purpose – The purpose of this paper is to call for an integrative approach to career research aiming to avoid both fragmentation and closure of the field through the discussion of a wide range of perspectives on career or career situations. The paper discusses the specificity of this integrative approach vs others, like the traditional approach or the multi or transdisciplinary approaches. Design/methodology/approach – The work is based on a review of the career literature, and an analytic comparison of existing research approaches across this body of literature. Findings – The paper shows the tendency of career theory to stick to narrow views of a career. The paper highlights the importance of taking into account the wide variety of career situations, which results from the fact that careers are necessarily located in time and space. The paper provides examples that invite to better explore career differences and seek for alternative explanations to career experiences. Because career dynamics are marked both by individual agency and different levels of structures, a more integrative kind of career research should thus trigger richer conversations among researchers regarding the complexity of the inhabited world. Originality/value – The specific added value of the integrative approach suggested in this paper is to open new routes for a career theory that could become stronger and enhance its power to illuminate a wide range of issues.

scholarly journals Marketing and social networks: a criterion for detecting opinion leaders

2017 ◽  
Vol 26 (3) ◽  
pp. 347-366 ◽  
Author(s):  
Arnaldo Mario Litterio ◽  
Esteban Alberto Nantes ◽  
Juan Manuel Larrosa ◽  
Liliana Julia Gómez
Keyword(s):  
Social Networks ◽  
Social Network ◽  
Online Social Networks ◽  
Semantic Analysis ◽  
Point Of View ◽  
Eigenvector Centrality ◽  
Content Type ◽  
Sporting Event ◽  
Centrality Metrics ◽  
Proposed Model

Purpose The purpose of this paper is to use the practical application of tools provided by social network theory for the detection of potential influencers from the point of view of marketing within online communities. It proposes a method to detect significant actors based on centrality metrics. Design/methodology/approach A matrix is proposed for the classification of the individuals that integrate a social network based on the combination of eigenvector centrality and betweenness centrality. The model is tested on a Facebook fan page for a sporting event. NodeXL is used to extract and analyze information. Semantic analysis and agent-based simulation are used to test the model. Findings The proposed model is effective in detecting actors with the potential to efficiently spread a message in relation to the rest of the community, which is achieved from their position within the network. Social network analysis (SNA) and the proposed model, in particular, are useful to detect subgroups of components with particular characteristics that are not evident from other analysis methods. Originality/value This paper approaches the application of SNA to online social communities from an empirical and experimental perspective. Its originality lies in combining information from two individual metrics to understand the phenomenon of influence. Online social networks are gaining relevance and the literature that exists in relation to this subject is still fragmented and incipient. This paper contributes to a better understanding of this phenomenon of networks and the development of better tools to manage it through the proposal of a novel method.

scholarly journals Resilience and sustainability of creative industries businesses

2021 ◽  
Vol 115 ◽  
pp. 02004
Author(s):  
Helena Majdúchová ◽  
Daniela Rybárová
Keyword(s):  
Negative Impact ◽  
Slovak Republic ◽  
Creative Industries ◽  
Point Of View ◽  
Growth Potential ◽  
Added Value ◽  
Creative Economy ◽  
Mean Values ◽  
Unlimited Growth ◽  
New Type

The importance of the creative economy for the development of society not only from an economic but also from a social and cultural point of view has been the subject of numerous scientific and professional studies. The connecting link between them is the observation that creativity has been considered in recent years as a new type of competitive advantage. As a generator of added value for all businesses, the creative industries have unlimited growth potential and are thus seen as a route to sustainable development. One of the problems of the creative industry is to obtain resources for business development. This paper examines the financial structure of selected areas of the creative industries in the Slovak Republic, using mean values for 2016-2019, correlation and regression analysis of financial data in 2019 (before the negative impact of COVID19). The findings point to the absence of credit sources, which confirms the fact that these businesses are perceived as risky and unstable by banks and financial institutions in the Slovak Republic.

scholarly journals The labour market impact of COVID-19: early evidence for a sample of enterprises from Southern Europe

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Allan Webster ◽  
Sangeeta Khorana ◽  
Francesco Pastore
Keyword(s):  
Regression Analysis ◽  
Point Of View ◽  
Economic Consequences ◽  
Southern Europe ◽  
Content Type ◽  
Early Evidence ◽  
Wide Range ◽  
Containment Measures ◽  
The Impact ◽  
Firm Closures

PurposeThe choice of Southern Europe is partly based on the observation that the sample includes a number of countries whose economies faced more severe difficulties than elsewhere in Europe. Economically they were less able to absorb the economic shock posed by COVID-19. It is also partly based on the characteristics of the pandemic. A number of countries in the sample were amongst the earliest in Europe to be hit by the pandemic and a several were harder hit in terms of both morbidity and mortality.Design/methodology/approachThis study uses evidence from World Bank enterprise surveys of a sample of firms from six countries in Southern Europe. It examines the early evidence of the effects of COVID-19 on labour markets. The economic consequences potentially cover a wide range of issues. The focus of this study is on firm level evidence of the effect on labour. The evidence and the analysis are provided at a time when the pandemic is still in progress. The authors use both traditional regression analysis and IPWRA to assess the joint effect of loans versus government support on, firstly, the change in sales revenues and, secondly, the number of weeks that the firm would expect to survive with no sales revenues.FindingsThe study suggests that, despite efforts to support firms and hoard labour, there is a prospect of a significant number of firm closures with a consequent loss of employment. Temporary firm closures also represent a substantial loss of labour weeks. These are partly related to a significant number of workers subject to furloughs. The empirical findings suggest that COVID-19 cases and deaths have directly affected firm sales but government containment measures, particularly closures, have more strongly affected firms. Losses of sales were unsurprisingly related to losses of employment. Remote working has contributed to sustaining employment but online business has not affected most sectors.Research limitations/implicationsThe future progress of COVID-19 and government containment measures is uncertain, and the full economic consequences will probably continue to emerge after the end of the pandemic. The full extent of the impact on labour will probably not be the first of these. There are obvious advantages in seeking to learn lessons from the early stages of the pandemic but there are also obvious constraints. The full economic consequences will take longer to emerge than the pandemic itself and the full consequences for employment will take longer to be evident than many other economic effects.Practical implicationsBoth temporary closures and furloughs impose costs that will be borne by firms, workers and government. The effects of COVID-19 on firms differ across sectors. Adverse effects tend to be higher in hospitality, non-essential retail and travel. That many firms lack the capacity to survive further temporary closures of a similar duration to those in the earlier stages emphasises that the support provided in the near future is of critical importance to control employment losses through permanent firm closures. A long-term perspective suggests neither permanent closure nor laying off workers may be the best response to a temporary crisis in demand. A stakeholder model of the firm would often suggest that it is not an optimal for the point of view of workers or the wider economy either. Both imply a preference for labour hoarding.Social implicationsThe most affected are sectors with a high proportion of female workers and, in consequence, most of the countries in the sample exhibit an early decline of the already lower than average share of women in employment.Originality/valueThe data used have been recently released and this is the first analysis using the data to look at the consequence on firms employment decisions during the Pandemic. The case of Southern Europe is much understudied, though one of the most dramatic as to the consequences of the pandemic. From a methodological point of view, the authors use not only traditional regression analysis, but also the matching approach to identify the effect of different policy options on labour demand by firms.

Viscoelastic-viscoplastic combined constitutive model for glassy amorphous polymers under loading/unloading/no-load states

2020 ◽  
Vol 37 (5) ◽  
pp. 1703-1735
Author(s):  
Seishiro Matsubara ◽  
Kenjiro Terada ◽  
Ryusei Maeda ◽  
Takaya Kobayashi ◽  
Masanobu Murata ◽  
...  
Keyword(s):  
Constitutive Model ◽  
Deformation Rate ◽  
Amorphous Polymers ◽  
Elastic Behavior ◽  
Content Type ◽  
Rate Dependent ◽  
Proposed Model ◽  
Wide Range ◽  
In Series ◽  
Rheology Model

Purpose This study aims to propose a novel viscoelastic–viscoplastic combined constitutive model for glassy amorphous polymers within the framework of thermodynamics at finite strain that is capable of capturing their rate-dependent inelastic mechanical behavior in wide ranges of deformation rate and amount. Design/methodology/approach The rheology model whose viscoelastic and viscoplastic elements are connected in series is set in accordance with the multi-mechanism theory. Then, the constitutive functions are formulated on the basis of the multiplicative decomposition of the deformation gradient implicated by the rheology model within the framework of thermodynamics. Dynamic mechanical analysis (DMA) and loading/unloading/no-load tests for polycarbonate (PC) are conducted to identify the material parameters and demonstrate the capability of the proposed model. Findings The performance was validated in comparison with the series of the test results with different rates and amounts of deformation before unloading together. It has been confirmed that the proposed model can accommodate various material behaviors empirically observed, such as rate-dependent elasticity, elastic hysteresis, strain softening, orientation hardening and strain recovery. Originality/value This paper presents a novel rheological constitutive model in which the viscoelastic element connected in series with the viscoplastic one exclusively represents the elastic behavior, and each material response is formulated according to the multiplicatively decomposed deformation gradients. In particular, the yield strength followed by the isotropic hardening reflects the relaxation characteristics in the viscoelastic constitutive functions so that the glass transition temperature could be variant within the wide range of deformation rate. Consequently, the model enables us to properly represent the loading process up to large deformation regime followed by unloading and no-load processes.

Study of the properties of materials under complicated conditions of low cycle deformation

2021 ◽  
Vol 87 (7) ◽  
pp. 49-58
Author(s):  
N. A. Makhutov ◽  
М. M. Gadenin ◽  
О. F. Cherniavsky ◽  
A. О. Cherniavsky
Keyword(s):  
Initial Data ◽  
Equations Of State ◽  
Complex Loading ◽  
Time Factors ◽  
Point Of View ◽  
Theoretical Point ◽  
Operational Parameters ◽  
Practical Applications ◽  
Wide Range ◽  
Deformation Diagrams

Operational integrity of structures under complex combined modes of a loading depends on a significant number of combinations of operational parameters of thermomechanical impacts in part of loads, temperatures, duration, number of cycles, and deformation rates. The main laws governing the deformation of structural materials under complex loading are determined in conditions of combined standard, unified and special tests in laboratories. Using representative substantiations of physical and mechanical models for deformation diagrams in a wide range of loading conditions, taking into account the different scales of models, the structure of materials and the responsibility of structures, a stepwise consideration of the corresponding types of deformation is proposed: elastic, sign-variable flow, progressing accumulation of strains and their combination. At the same time, calculations of the structures can be carried out in the form of a hierarchical system in which each next level specifies the boundaries of permissible impacts towards expansion of the range of acting loadings, temperatures, rates and modes of deformation, which entails an increase in the bulk of the required initial data and complicates the calculations. The proposed methods of schematization of the physicomechanical properties and types of the equations of state for description of the deformation curves take into account the requirements of compactness of the initial data and the need of using both standard and unified methods for determining the characteristics of cyclic inelastic deformation and special methods as well. To describe the kinetics of deformation diagrams under aforementioned conditions both from the theoretical point of view and from the point of view of practical applications, power equations appeared most suitable; to reflect the role of the temperature factor exponential dependences should be used; whereas power dependences are useful to take into account time factors, strain rate, and conditions of two-frequency loading. The refined calculations at the higher and more complicated steps of the considered hierarchy providing the maximum possible use of the deformation and strength reserves of the materials and structures are to be based on the kinetic laws describing processes of low cycle deformation under complex modes of loading.

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