BIG DATA ALGORITHMS AND PREDICTION: BINGOS AND RISKY ZONES IN SHARIA STOCK MARKET INDEX

Each country with a stock exchange normally calculates various indexes. So is the case for Malaysia’s Kuala Lumpur Stock exchange (KLSE). FTSE BURSA Malaysia EMAS Sharia price index (FTBMEMA) is one of its Sharia indexes. In an effort to find which other indices may forecast this Sharia index, we selected 23 relevant indexes and two exchange rates. Momentum indicators for short, medium and long term have been calculated for the variables. The objective of this study is to find predictive indicators for FTBMEMA out of the population of 188 original and derived variables. Difficulty arises in reducing the number of variables for regression or other predictive models like neural networks. In this preliminary study, data mining attribute selection algorithms along with cross validation criteria have been used, through the use of Java class library Weka (JCLW), for reducing the number to statistically relevant variables for our regression estimation in an effort to forecast various performance parameters for FTBMEMA like performing either in a mean performance range, having jackpots and bingos or falling into danger zones. Provided the extent of the required predictive accuracy, the results may bring additional insights for diversifying and hedging various types of investment portfolios as well as for maximizing returns by portfolio managers

What Developments in Western Europe Tell Us About American Critiques of Corporate Criminal Liability

Although corporate criminal liability has been recognized in the United States for nearly a century, contemporary academic commentators have questioned its legitimacy and argued that it is inferior to its alternatives: civil liability for the corporation and/or criminal liability for individual corporate agents. Other academic critics have attacked the present definitions of corporate criminal liability. In other words, although corporate criminal liability has also had its academic champions, it has been under attack in the United States. The situation in Europe poses a sharp contrast

Shareholder Value and Auditor Independence

This Article questions the practice of framing problems concerning auditors\u27 professional responsibility inside a principal-agent paradigm. If professional independence is to be achieved, auditors cannot be enmeshed in agency relationships with the shareholders of their audit clients. As agents, the auditors by definition become subject to the principal\u27s control and cannot act independently. For the same reason, auditors\u27 duties should be neither articulated in the framework of corporate law fiduciary duty, nor conceived relationally at all. These assertions follow from an inquiry into the operative notion of the shareholder-beneficiary. The Article unpacks the notion of the shareholder and tells a particularized story about the shareholder interest. The exercise complicates the agency description, highlighting multiple and unstable shareholder demands that displace the unitary model of the shareholder usually brought to bear. This fragmented and volatile model of the shareholder provides neither a basis for articulating a coherent set of instructions respecting aggressive accounting nor for imposing conservative accounting. The Article concludes that legal positivism provides a more appropriate conceptual framework. Auditor duties should be conceived in formal rather than relational terms, with fidelity going to the rules and the system that auditors apply rather than to a client interest

Pension reform and public information in Poland

The introduction of a new pension system in Poland in 1999 was the culmination of a long policy dialogue and years of debate. During this period, the role of public opinion shaped the reform and was, in turn, shaped by the reform process. Implementation of the reform was also affected by the quality of information available to the public and the public's financial literacy. In contrast to their passive role in the old public, defined-benefit schemes, People who chose to divert their contributions to individual, defined-contribution accounts must now take an active role in the new system. This paper documents the evolution of public opinion and its affects on the reform process as well as the early experiences of millions of people who, for the first time, are faced with the challenge of choice as consumers in the new market for pension services.Pensions&Retirement Systems,Economic Stabilization,Banks&Banking Reform,Health Monitoring&Evaluation,Children and Youth

Dynamics of Information Diffusion and Social Sensing

Statistical inference using social sensors is an area that has witnessed remarkable progress and is relevant in applications including localizing events for targeted advertising, marketing, localization of natural disasters and predicting sentiment of investors in financial markets. This chapter presents a tutorial description of four important aspects of sensing-based information diffusion in social networks from a communications/signal processing perspective. First, diffusion models for information exchange in large scale social networks together with social sensing via social media networks such as Twitter is considered. Second, Bayesian social learning models and risk averse social learning is considered with applications in finance and online reputation systems. Third, the principle of revealed preferences arising in micro-economics theory is used to parse datasets to determine if social sensors are utility maximizers and then determine their utility functions. Finally, the interaction of social sensors with YouTube channel owners is studied using time series analysis methods. All four topics are explained in the context of actual experimental datasets from health networks, social media and psychological experiments. Also, algorithms are given that exploit the above models to infer underlying events based on social sensing. The overview, insights, models and algorithms presented in this chapter stem from recent developments in network science, economics and signal processing. At a deeper level, this chapter considers mean field dynamics of networks, risk averse Bayesian social learning filtering and quickest change detection, data incest in decision making over a directed acyclic graph of social sensors, inverse optimization problems for utility function estimation (revealed preferences) and statistical modeling of interacting social sensors in YouTube social networks.Comment: arXiv admin note: text overlap with arXiv:1405.112

The ecomics of ecosystems and biodiversity: scoping the scale

The G8 decided in March 2007 to initiate a “Review on the economics of biodiversity loss”, in the so called Potsdam Initiative: 'In a global study we will initiate the process of analysing the global economic benefit of biological diversity, the costs of the loss of biodiversity and the failure to take protective measures versus the costs of effective conservation. The study is being supported by the European Commission (together with the European Environmental Agency and in cooperation with the German Government. “The objective of the current study is to provide a coherent overview of existing scientific knowledge upon which to base the economics of the Review, and to propose a coherent global programme of scientific work, both for Phase 2 (consolidation) and to enable more robust future iterations of the Review beyond 2010.

Forecasting: theory and practice

Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases.info:eu-repo/semantics/publishedVersio

Technical and economic feasibility study of Metal 3D Printing in the Chemical Industry: Application to pump impellers

Les tècniques de fabricació d'Impressió 3D en Metall, també anomenada Fabricació Additiva (AM), es troben a la seva gènesi des d'un punt de vista d'aplicació industrial i divulgació massiva. Estan renovant el panorama de les tecnologies de producció disponibles fins a l'actualitat i així són/seran, a nivell industrial, una alternativa al procés de compra de materials (negociació de preus), fabricació de peces obsoletes (ja no comercialitzades) o noves i emmagatzematge/custòdia de recanvis tècnics per a la Indústria. L'objectiu d'aquest estudi se centra en l'aplicació de la fabricació additiva en metall per a impulsors de bombes a la indústria química, però també vàlid per a molts altres tipus d'indústria. L'abast del Projecte inclou la construcció de 2 impulsors metàl·lics de bomba, segons les estratègies 1 i 2 indicades a continuació: Estratègia 1: Fabricació AM tipus BJ (Binder Jetting) i posada en funcionament en una bomba centrífuga en una planta de Poliol/Poliglicol de Dow Chemical Ibérica SL, 30-octubre-2020, 6 mesos. Estratègia 2: Fabricació AM tipus SLM (Selective Laser Melting) i posada en funcionament en una bomba de buit a una planta d'hidrocarburs de Dow Chemical Ibérica SL, 16-juny-2022, 4 mesos. El desenvolupament del present treball es va basar en els passos següents: disseny/escaneig, fabricació, muntatge en bomba i posada en servei. Tot seguit es va procedir a l'anàlisi dels resultats una vegada posada en funcionament la bomba a planta. I, finalment, fer una comparació -en condicions normals de funcionament- amb el mateix servei anterior i amb el mateix tipus d'impulsor metàl·lic però fabricat de manera convencional. Aquest treball va demostrar que la implementació de tecnologies AM en metall per a processos químics és una solució útil per a fabricar recanvis que podrien ser difícils de replicar amb altres tecnologies convencionals i, a més, brinda/demostra potencials beneficis econòmics.Las técnicas de fabricación de Impresión 3D en Metal, también denominada Fabricación Aditiva (AM), se encuentran en su génesis desde un punto de vista de aplicación industrial y divulgación masiva. Están renovando el panorama de las tecnologías de producción disponibles hasta la actualidad y así son/serán, en el ámbito Industrial, una alternativa al proceso de compra de materiales (negociación de precios), fabricación de piezas obsoletas (ya no comercializadas) o nuevas y almacenamiento/custodia de repuestos técnicos para la Industria. El objetivo de este estudio se centra en la aplicación de la Fabricación Aditiva en metal para impulsores de bombas en la Industria Química, pero también válido para muchos otros tipos de Industria. El alcance del Proyecto incluye la construcción de 2 impulsores metálicos de bomba, según las estrategias 1 y 2 indicadas a continuación: Estrategia 1: Fabricación AM tipo BJ (Binder Jetting) y puesta en funcionamiento en una bomba centrífuga en una planta de Poliol/Poliglicol de Dow Chemical Ibérica SL, 30- octubre- 2020, 6 meses. Estrategia 2: Fabricación AM tipo SLM (Selective Laser Melting) y puesta en funcionamiento en una bomba de vacío en una planta de hidrocarburos de Dow Chemical Ibérica SL, 16-junio-2022, 4 meses. El desarrollo del presente trabajo se basó en los siguientes pasos: diseño/escaneo, fabricación, montaje en bomba y puesta en servicio. A continuación se procedió al análisis de los resultados una vez puesta en funcionamiento la bomba en planta. Y, por último, hacer una comparación -en condiciones normales de funcionamiento- con el mismo servicio anterior y con el mismo tipo de impulsor metálico pero fabricado de forma convencional. Este trabajo demostró que la implementación de tecnologías AM en metal para procesos químicos es una solución útil para fabricar recambios que podrían ser difíciles de replicar con otras tecnologías y, además, brinda/demuestra potenciales beneficios económicos.The Metal 3D Printing fabrication techniques, also named Additive Manufacturing (AM), are in its birth starting point from the perspective of industrial applications and worldwide massive divulgation. The emergence of AM is renovating the landscape of available production technologies with multiple different and potential uses. Among them, in the Industrial field, as an alternative to the process of materials purchasing (price negotiations), manufacturing obsolete (not yet in the market) or new pieces and storage/custody of technical spare parts for the Chemical Industry. The purpose of this study focus on the application of Additive Manufacturing in metal for pump impellers in the Chemical Industry, but also in many other types of Industry. The scope of the project includes the construction of 2 metallic pump impellers, according to strategies 1 and 2 indicated below: Strategy 1: Manufacture additive technology type BJ (Binder Jetting) put into operation in a centrifugal pump at a Polyol/Polyglycol plant of Dow Chemical Ibérica SL from October 30, 2020, 6 months. Strategy 2: Manufacture additive technology type SLM (Selective Laser Melting) put into operation in a vacuum pump at a hydrocarbon plant of Dow Chemical Ibérica SL from October 16, 2022, 4 months. The development of the present work was based on next steps: design/scanning, manufacturing, pump assembly and commissioning. Next was analysis of the results once the pump is assembled and put into operation in the plant. And finally, make a comparison - under normal operating conditions - with the same previous service and with the same type of metal impeller but manufactured in a conventional way. This work further demonstrated that the implementation of metal additive manufacturing technologies in chemical process is a useful solution to fabricate spare parts that could be difficult to replicate with other technologies, providing potential economic benefits