72 research outputs found

    Can gold be used as a hedge against the risks of Sharia-compliant securities? Application for Islamic portfolio management

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    In this paper, we investigate whether gold hedges Sharia-compliant stocks and Sukuk during the period from September 2005 to October 2017. The inference is taken by using both the DCC-GARCH model and the wavelet coherence analysis. On the whole, our finding suggests that gold is not effective in hedging the fluctuations of Sharia-compliant securities. However, we find that combining gold with stocks (and Sukuk) is useful in diversification and portfolio optimization. These results imply that, while gold is an excellent hedge for plain vanilla securities, it is not for Islamic exposures. This is important in light of the increasing amount of assets that are managed according to Islamic screening

    Fault Current Limiter Optimal Placement by Harmony Search Algorithm

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    ABSTRACT In this paper a harmony search algorithm has been used to determine the optimal amount and location of fault current limiters in power systems which have fault currents exceeding the permitted amount of protection equipments while using the least amount of impedance. The harmony search algorithm has been used to solve this optimization problem

    Enhancing Weld Joint Integrity in S460 High-Strength Steel Plates: An Experimental Approach

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    Exploring S460 steel, this research assesses weld toe microstructure and fatigue. It finds that welding affects hardness of welded area and fatigue life. These insights are crucial for structural engineering, optimizing welding practices for longevity. Tests confirm increased weld toe hardness correlates with fatigue resistance. This informs design strategies, ensuring bridge safety under cyclic loads. The study advances understanding of HSS behaviour, influencing future welding techniques
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