An academic review: applications of data mining techniques in finance industry

With the development of Internet techniques, data volumes are doubling every two years, faster than predicted by Moore’s Law. Big Data Analytics becomes particularly important for enterprise business. Modern computational technologies will provide effective tools to help understand hugely accumulated data and leverage this information to get insights into the finance industry. In order to get actionable insights into the business, data has become most valuable asset of financial organisations, as there are no physical products in finance industry to manufacture. This is where data mining techniques come to their rescue by allowing access to the right information at the right time. These techniques are used by the finance industry in various areas such as fraud detection, intelligent forecasting, credit rating, loan management, customer profiling, money laundering, marketing and prediction of price movements to name a few. This work aims to survey the research on data mining techniques applied to the finance industry from 2010 to 2015.The review finds that Stock prediction and Credit rating have received most attention of researchers, compared to Loan prediction, Money Laundering and Time Series prediction. Due to the dynamics, uncertainty and variety of data, nonlinear mapping techniques have been deeply studied than linear techniques. Also it has been proved that hybrid methods are more accurate in prediction, closely followed by Neural Network technique. This survey could provide a clue of applications of data mining techniques for finance industry, and a summary of methodologies for researchers in this area. Especially, it could provide a good vision of Data Mining Techniques in computational finance for beginners who want to work in the field of computational finance

Numerical Study of Concrete

Concrete is one of the most widely used construction material in the word today. The research in concrete follows the environment impact, economy, population and advanced technology. This special issue presents the recent numerical study for research in concrete. The research topic includes the finite element analysis, digital concrete, reinforcement technique without rebars and 3D printing

An Evaluation of the Perceptions of In-Service Training Programmes Provided for Female Head Teachers of Girls’ Schools in Saudi Arabia

Although the Ministry of Education in Saudi Arabia invests heavily in training for female head teachers, several studies indicate that evaluations to determine the evaluation of training are not undertaken, and there is a need to assess the training programmes offered. Thus, the current study evaluates female head teachers’ and their supervisors’ perceptions of in-service training programmes provided for female head teachers at girls’ schools in the Kingdom of Saudi Arabia through an adaptation of Kirkpatrick’s model (1967). It identifies and discusses the ways in which different factors related to the training process can influence the effectiveness of these training programmes for head teachers. An interpretivist paradigm was adopted, and qualitative and quantitative data were collected from 250 trainees who work as head teachers, along with 12 supervisors. The study was conducted at two separate times (immediately after completion and three months post-training). The data were analysed thematically, both generally and with the aid of descriptive and regression models. The adapted Kirkpatrick’s model was found to be effective. Moreover, the female head teacher trainees expressed positive responses to and satisfaction with the training programmes in terms of a range of elements (trainers, training environment and training delivery). The results of the study indicate that the participants believe that their knowledge, information and practical skills improved as a result of undertaking the training programmes. 95.2 per cent of participants believe that the training had a positive effect on their behaviour by improving their skills and enhancing the character traits they need for their job, while 4.8 per cent believe that the training did not have a positive effect on their behaviour due to issues relating to the training delivery, the trainer and the training environment. Significantly, there is a positive correlation between perceptions of participants’ behavioural changes after training and their qualifications. Furthermore, the supervisors believe that the training programmes have a positive influence on head teachers and their work, which was reflected positively in their teachers’ performance and students’ results. The participants identified four obstacles that could hinder the effectiveness of female head teacher training in the Saudi context: the limited professional skills of the trainer, the method and type of training delivery used, the lack of preparedness of the training environment and the trainee’s lack of motivation towards the training. This study contributes to the field by providing a tool, adapted from Kirkpatrick’s model and based on its criteria and its methods, for the Ministry of Education to use to evaluate training programmes for female headteachers in the KSA. It also offers a practical contribution to the literature on effective training methods

Cyber Law and Espionage Law as Communicating Vessels

Professor Lubin\u27s contribution is Cyber Law and Espionage Law as Communicating Vessels, pp. 203-225. Existing legal literature would have us assume that espionage operations and “below-the-threshold” cyber operations are doctrinally distinct. Whereas one is subject to the scant, amorphous, and under-developed legal framework of espionage law, the other is subject to an emerging, ever-evolving body of legal rules, known cumulatively as cyber law. This dichotomy, however, is erroneous and misleading. In practice, espionage and cyber law function as communicating vessels, and so are better conceived as two elements of a complex system, Information Warfare (IW). This paper therefore first draws attention to the similarities between the practices – the fact that the actors, technologies, and targets are interchangeable, as are the knee-jerk legal reactions of the international community. In light of the convergence between peacetime Low-Intensity Cyber Operations (LICOs) and peacetime Espionage Operations (EOs) the two should be subjected to a single regulatory framework, one which recognizes the role intelligence plays in our public world order and which adopts a contextual and consequential method of inquiry. The paper proceeds in the following order: Part 2 provides a descriptive account of the unique symbiotic relationship between espionage and cyber law, and further explains the reasons for this dynamic. Part 3 places the discussion surrounding this relationship within the broader discourse on IW, making the claim that the convergence between EOs and LICOs, as described in Part 2, could further be explained by an even larger convergence across all the various elements of the informational environment. Parts 2 and 3 then serve as the backdrop for Part 4, which details the attempt of the drafters of the Tallinn Manual 2.0 to compartmentalize espionage law and cyber law, and the deficits of their approach. The paper concludes by proposing an alternative holistic understanding of espionage law, grounded in general principles of law, which is more practically transferable to the cyber realmhttps://www.repository.law.indiana.edu/facbooks/1220/thumbnail.jp

Data mining in computational finance

Computational finance is a relatively new discipline whose birth can be traced back to early 1950s. Its major objective is to develop and study practical models focusing on techniques that apply directly to financial analyses. The large number of decisions and computationally intensive problems involved in this discipline make data mining and machine learning models an integral part to improve, automate, and expand the current processes. One of the objectives of this research is to present a state-of-the-art of the data mining and machine learning techniques applied in the core areas of computational finance. Next, detailed analysis of public and private finance datasets is performed in an attempt to find interesting facts from data and draw conclusions regarding the usefulness of features within the datasets. Credit risk evaluation is one of the crucial modern concerns in this field. Credit scoring is essentially a classification problem where models are built using the information about past applicants to categorise new applicants as ‘creditworthy’ or ‘non-creditworthy’. We appraise the performance of a few classical machine learning algorithms for the problem of credit scoring. Typically, credit scoring databases are large and characterised by redundant and irrelevant features, making the classification task more computationally-demanding. Feature selection is the process of selecting an optimal subset of relevant features. We propose an improved information-gain directed wrapper feature selection method using genetic algorithms and successfully evaluate its effectiveness against baseline and generic wrapper methods using three benchmark datasets. One of the tasks of financial analysts is to estimate a company’s worth. In the last piece of work, this study predicts the growth rate for earnings of companies using three machine learning techniques. We employed the technique of lagged features, which allowed varying amounts of recent history to be brought into the prediction task, and transformed the time series forecasting problem into a supervised learning problem. This work was applied on a private time series dataset

Modularity in artificial neural networks

Artificial neural networks are deep machine learning models that excel at complex artificial intelligence tasks by abstracting concepts through multiple layers of feature extraction. Modular neural networks are artificial neural networks that are composed of multiple subnetworks called modules. The study of modularity has a long history in the field of artificial neural networks and many of the actively studied models in the domain of artificial neural networks have modular aspects. In this work, we aim to formalize the study of modularity in artificial neural networks and outline how modularity can be used to enhance some neural network performance measures. We do an extensive review of the current practices of modularity in the literature. Based on that, we build a framework that captures the essential properties characterizing the modularization process. Using this modularization framework as an anchor, we investigate the use of modularity to solve three different problems in artificial neural networks: balancing latency and accuracy, reducing model complexity and increasing robustness to noise and adversarial attacks. Artificial neural networks are high-capacity models with high data and computational demands. This represents a serious problem for using these models in environments with limited computational resources. Using a differential architectural search technique, we guide the modularization of a fully-connected network into a modular multi-path network. By evaluating sampled architectures, we can establish a relation between latency and accuracy that can be used to meet a required soft balance between these conflicting measures. A related problem is reducing the complexity of neural network models while minimizing accuracy loss. CapsNet is a neural network architecture that builds on the ideas of convolutional neural networks. However, the original architecture is shallow and has wide layers that contribute significantly to its complexity. By replacing the early wide layers by parallel deep independent paths, we can significantly reduce the complexity of the model. Combining this modular architecture with max-pooling, DropCircuit regularization and a modified variant of the routing algorithm, we can achieve lower model latency with the same or better accuracy compared to the baseline. The last problem we address is the sensitivity of neural network models to random noise and to adversarial attacks, a highly disruptive form of engineered noise. Convolutional layers are the basis of state-of-the-art computer vision models and, much like other neural network layers, they suffer from sensitivity to noise and adversarial attacks. We introduce the weight map layer, a modular layer based on the convolutional layer, that can increase model robustness to noise and adversarial attacks. We conclude our work by a general discussion about the investigated relation between modularity and the addressed problems and potential future research directions

Modularity in artificial neural networks

Artificial neural networks are deep machine learning models that excel at complex artificial intelligence tasks by abstracting concepts through multiple layers of feature extraction. Modular neural networks are artificial neural networks that are composed of multiple subnetworks called modules. The study of modularity has a long history in the field of artificial neural networks and many of the actively studied models in the domain of artificial neural networks have modular aspects. In this work, we aim to formalize the study of modularity in artificial neural networks and outline how modularity can be used to enhance some neural network performance measures. We do an extensive review of the current practices of modularity in the literature. Based on that, we build a framework that captures the essential properties characterizing the modularization process. Using this modularization framework as an anchor, we investigate the use of modularity to solve three different problems in artificial neural networks: balancing latency and accuracy, reducing model complexity and increasing robustness to noise and adversarial attacks. Artificial neural networks are high-capacity models with high data and computational demands. This represents a serious problem for using these models in environments with limited computational resources. Using a differential architectural search technique, we guide the modularization of a fully-connected network into a modular multi-path network. By evaluating sampled architectures, we can establish a relation between latency and accuracy that can be used to meet a required soft balance between these conflicting measures. A related problem is reducing the complexity of neural network models while minimizing accuracy loss. CapsNet is a neural network architecture that builds on the ideas of convolutional neural networks. However, the original architecture is shallow and has wide layers that contribute significantly to its complexity. By replacing the early wide layers by parallel deep independent paths, we can significantly reduce the complexity of the model. Combining this modular architecture with max-pooling, DropCircuit regularization and a modified variant of the routing algorithm, we can achieve lower model latency with the same or better accuracy compared to the baseline. The last problem we address is the sensitivity of neural network models to random noise and to adversarial attacks, a highly disruptive form of engineered noise. Convolutional layers are the basis of state-of-the-art computer vision models and, much like other neural network layers, they suffer from sensitivity to noise and adversarial attacks. We introduce the weight map layer, a modular layer based on the convolutional layer, that can increase model robustness to noise and adversarial attacks. We conclude our work by a general discussion about the investigated relation between modularity and the addressed problems and potential future research directions

Chemistry of electronic ceramic materials. Proceedings of the International Conference on the Chemistry of Electronic Ceramic Materials

The conference was held at Jackson Hole, Wyoming from August 17 to 22, 1990, and in an attempt to maximize the development of this rapidly moving, multidisciplinary field, this conference brought together major national and international researchers to bridge the gap between those primarily interested in the pure chemistry of inorganic solids and those interested in the physical and electronic properties of ceramics. With the many major discoveries that have occurred over the last decade, one of the goals of this meeting was to evaluate the current understanding of the chemistry of electronic ceramic materials, and to assess the state of a field that has become one of the most important areas of advanced materials research. The topics covered include: crystal chemistry; dielectric ceramics; low temperature synthesis and characterization; solid state synthesis and characterization; surface chemistry; superconductors; theory and modeling