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Article
Publication date: 23 November 2021

Lakshmi M. Kavitha, Rao S. Koteswara and K. Subrahmanyam

Marine exploration is becoming an important element of pervasive computing underwater target tracking. Many pervasive techniques are found in current literature, but only scant…

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Abstract

Purpose

Marine exploration is becoming an important element of pervasive computing underwater target tracking. Many pervasive techniques are found in current literature, but only scant research has been conducted on their effectiveness in target tracking.

Design/methodology/approach

This research paper, introduces a Shifted Rayleigh Filter (SHRF) for three-dimensional (3 D) underwater target tracking. A comparison is drawn between the SHRF and previously proven method Unscented Kalman Filter (UKF).

Findings

SHRF is especially suitable for long-range scenarios to track a target with less solution convergence compared to UKF. In this analysis, the problem of determining the target location and speed from noise corrupted measurements of bearing, elevation by a single moving target is considered. SHRF is generated and its performance is evaluated for the target motion analysis approach.

Originality/value

The proposed filter performs better than UKF, especially for long-range scenarios. Experimental results from Monte Carlo are provided using MATLAB and the enhancements achieved by the SHRF techniques are evident.

Details

International Journal of Pervasive Computing and Communications, vol. 18 no. 3
Type: Research Article
ISSN: 1742-7371

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Publication date: 11 August 2016

Knut F. Lindaas and Prodosh Simlai

We examine the incremental cross-sectional role of several common risk factors related to size, book-to-market, and momentum in size-and-momentum-sorted portfolios. Unlike the…

Abstract

We examine the incremental cross-sectional role of several common risk factors related to size, book-to-market, and momentum in size-and-momentum-sorted portfolios. Unlike the existing literature, which focuses on the conditional mean specification only, we evaluate the common risk factors’ incremental explanatory power in the cross-sectional characterization of both average return and conditional volatility. We also investigate the role of ex-ante market risk in the cross-section. The empirical results demonstrate that the size-and-momentum-based risk factors explain a significant portion of the cross-sectional average returns and cross-sectional conditional volatility of the benchmark equity portfolios. We find that the Fama–French (1993) factors and the ex-ante market risk are priced in the cross-sectional conditional volatility. We conclude that the size-and-momentum-based factors provide a source of risk that is independent of the Fama–French factors as well as ex-post and ex-ante market risk. Our results bolster the risk-based explanation of the size and momentum effects.

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The Spread of Financial Sophistication through Emerging Markets Worldwide
Type: Book
ISBN: 978-1-78635-155-5

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Abstract

India became a NWS (Nuclear Weapons State) most reluctantly in May 1998 despite her demonstration of nuclear weapons capability 24 years earlier in May 1974. Having assumed the new status as the sixth overt nuclear weapons state, India also declared her principled policy governing use of nuclear weapons in the event of a national security threat. The Indian Nuclear Doctrine was called “minimum deterrence” by the BJP-led NDA government, but the Congress-led UPA government in 2004 renamed it as “credible deterrence.”

But the heart of the vibrant Indian nuclear doctrine is its commitment to No First Use (NFU) of nuclear weapons. Nuclear weapons were invented by the United States (U.S.). First-ever use of atom bomb is also made by the Americans and a philosophic foundation for the discussion on NFU was also laid in the U.S. However, having put the NFU in the philosophic parlance, the U.S. in the Cold War International environment professed the doctrine for First Use (FU) of nuclear weapons. It is China that made a first public commitment to the NFU after it became the fifth nuclear weapons state.

This chapter proposes to discuss Indian commitment to NFU as a first step on the long path toward global nuclear disarmament—or No Use (NU) of nuclear weapons. India saw Partial Test Ban treaty of 1963 as a step toward NU and also saw the discussions on NPT as another step toward nuclear disarmament as much as it wanted the big powers to see the CTBT too as a device aimed at putting world into NU bind. West, led by the U.S., was however only interested in using the CTBT to deny nuclear weapons status to threshold states, particularly India.

As a self-declared nuclear weapons state, India has, in nuclear doctrine, committed itself to nuclear disarmament. Can there be an international treaty between the declared nuclear weapons states? Can India and Russia come together on the issue? Can they convince China to join? With three Asian nuclear weapons states committing themselves to NFU, U.S. can see economic sense in an international treaty on NFU. Is it possible to create a global public opinion in favor of NU of nuclear weapons? The questions will be answered based on research conduct on the subject.

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Cooperation for a Peaceful and Sustainable World Part 2
Type: Book
ISBN: 978-1-78190-655-2

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Book part
Publication date: 19 March 2018

Eric C. Lin, James L. Kuhle and Helen Xu

We examine market response to changes in the annual “Dogs of the Dow” (DOD) portfolio. Specifically, we explore stock prices and trading volumes of the Dow stocks that are newly…

Abstract

We examine market response to changes in the annual “Dogs of the Dow” (DOD) portfolio. Specifically, we explore stock prices and trading volumes of the Dow stocks that are newly included into or excluded from the DOD portfolio. Although the historical performance of this popular dividend-driven investment strategy is subject to debate, our study focuses on investigating Harris and Gurel’s (1986) “noninformation-motivated demand shifts” in the sample of DOD additions and deletions. Utilizing standard event study methodology over the period 1996–2016, we find evidence that a Dow stock experiences a significant but temporary increase (decrease) in price when it is newly included into (excluded from) the DOD portfolio. Price reversals occur within one week of the reconstitutions. We also find that trading volumes temporarily increase following both index additions and deletions. The results support the price-pressure hypothesis as the DOD reconstitutions do not generally convey new information.

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Global Tensions in Financial Markets
Type: Book
ISBN: 978-1-78714-839-0

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Book part
Publication date: 25 May 2021

Reyhan Can and H. Isın Dizdarlar

Introduction: According to the effective market hypothesis, investors act rationally when making an investment decision. The hypothesis assumes that investors invest in a way that…

Abstract

Introduction: According to the effective market hypothesis, investors act rationally when making an investment decision. The hypothesis assumes that investors invest in a way that maximizes their returns, taking into account the new information received. If the information released on the market is interpreted in the same way by all investors, no investor would be able to earn above the market. This hypothesis is valid in case of efficient markets. In the event that investors show irrational behavior to the information released on the market, the markets move away from efficiency. Overreaction behavior is one of the non-rational behaviors of investors. Overreaction behavior involves investors overreacting by misinterpreting the new information released to the market. According to De Bondt and Thaler’s (1985), overreaction hypothesis in the event that investors overreact to the news coming to the market, after a period the false evaluation, the price of the security is corrected with the reversal movement, without the need of any positive or negative information. Aim: The purpose of this study is to examine investors’ overreaction behavior in mergers and acquisitions. For this purpose, overreaction behavior was analyzed for companies whose stocks are traded on the Borsa Istanbul, which were involved in mergers or acquisitions. Method: In the study, companies that made mergers and acquisitions for the period 2007–2017 were determined, and abnormal returns and cumulative abnormal returns were calculated by using monthly closing price data of these companies. Moreover, whether investors overreact to the merger and acquisition decision is examined separately for one-, three- and five-year periods. Findings: As a result of the research, it has been observed that there is a reverse return for one-, three-, and five-year periods. However, it has been determined that the overreaction hypothesis is valid for only one year.

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Contemporary Issues in Social Science
Type: Book
ISBN: 978-1-80043-931-3

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Book part
Publication date: 1 October 2015

Robert A. Leitch, Michael Majerczyk and Yu Tian

Attribution bias can be costly to firms because it hinders decision makers’ ability to infer the real cause of prior events and take corrective action to improve future…

Abstract

Attribution bias can be costly to firms because it hinders decision makers’ ability to infer the real cause of prior events and take corrective action to improve future performance. This study extends prior research by examining whether and how the presence of variance reporting from accounting systems affects firm profitability through a labor cost management decision that is highly susceptible to attribution bias. Our results support the prediction that the presence of variance reporting (process feedback) increases the likelihood of belief revision and corrective action related to the systematic error, and thus increases overall profitability for the firm. The findings of our study propose a solution to attribution and learning problems observed when decision makers are responsible for both cost management and bids as documented in prior literature.

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Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-78441-635-5

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Book part
Publication date: 25 September 2020

N. Serap Vurur

Purpose: Investor sentiment in financial markets has a close relationship with the general mood prevailing in the environment such as economic, social and political life. Future…

Abstract

Purpose: Investor sentiment in financial markets has a close relationship with the general mood prevailing in the environment such as economic, social and political life. Future economic expectations are important for both investors and policymakers. Investor sentiment and macroeconomic variables are likely to affect each other. Emerging countries are particularly sensitive to interest and foreign exchange risk. Turkey is an important emerging country. The effects of interest rate and exchange fluctuations are high in this country. The aim of this study is to reveal the relationship between investor sentiment and interest and foreign exchange rates in Turkey.

Methodology: This study investigates the relationship between economic confidence index, exchange rates and interest rates in Turkey during the period between January 2012 and November 2019 using monthly data sets. The economic confidence index is used to represent the investor sentiment in the study. Interest rate variables are the deposit interest rates and the commercial credit interest rates. The representative of the US dollar currency variables is included in the analysis. This chapter used the time series vector error correction model approach of stationarity test, cointegration test and Granger causality test.

Findings: According to the causality test, there is a two-way relationship between economic confidence index and exchange rate, and there is uni-directional causality from commercial credit interest rate to economic confidence index. The results show that foreign exchange and commercial credit interest rate variables are carefully monitored by market players and are effective and influential in the formation of future expectations.

Originality/value: The study shows the direction of the relationship between economic confidence foreign exchange and commercial credit interest rate. Policymakers can shape expectations by taking into account the direction of the relationship.

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Uncertainty and Challenges in Contemporary Economic Behaviour
Type: Book
ISBN: 978-1-80043-095-2

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Article
Publication date: 21 June 2019

Zafar Khan

This paper aims to elaborate in a greater detail about how to manage and eventually help resolve outstanding issues, including the core issue of Kashmir between nuclear India and…

449

Abstract

Purpose

This paper aims to elaborate in a greater detail about how to manage and eventually help resolve outstanding issues, including the core issue of Kashmir between nuclear India and Pakistan. In doing so, this paper elaborates various innovative measures that could be applicable to South Asian nuclear environment that in turn could assist the South Asian nuclear leadership in understanding and managing the fragility of South Asian nuclear deterrence.

Design/methodology/approach

Innovatively, this research paper looks at the South Asian nuclear issues at three levels of analysis – understanding the prevailing dynamics of nuclear revolution and improved means of communications and promoting deterrence stability in South Asia. All three levels may be more needed than ever before in the wake of the arrival of nuclear weapons for a broader Southern Asian region.

Findings

This paper finds out that although nuclear weapons have become a reality in South Asia and these deadly weapons have prevented major wars between India and Pakistan, nuclear weapons have not prevented the crises between India and Pakistan. Therefore, both India and Pakistan have confronted a number of crises. The paper finds out that any serious crisis between India and Pakistan could further undermine the credibility of existing confidence-building measures and the same could escalate from military to nuclear level. Absent from immediate measures undertaken by the South Asian security leadership, nuclear weapons may not help prevent the war between India and Pakistan at the sub-conventional level, this paper finds out.

Originality/value

By explaining innovative measures at the three level of analysis, this papers adds to the existing literature in understanding the behavior of South Asian security leadership and how these measures could best bring positive results in preventing a major crisis that potentially bears the risk of escalation to nuclear level.

Details

International Journal of Conflict Management, vol. 30 no. 5
Type: Research Article
ISSN: 1044-4068

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Article
Publication date: 21 September 2009

Amber Anand and Avanidhar Subrahmanyam

We analyze trading activity accompanying equities’ switches from “growth” (low book‐tomarket ratios (BMRs)) to “value” (high BMRs), and vice versa. We find that a large BMR…

543

Abstract

We analyze trading activity accompanying equities’ switches from “growth” (low book‐tomarket ratios (BMRs)) to “value” (high BMRs), and vice versa. We find that a large BMR increase, that is a shift from growth to value, is accompanied by a strongly negative small order imbalance (OIB). Large OIB exhibits weaker patterns across stocks that experience large changes in book/market. The evidence indicates that growth‐to‐value shifts are more strongly related to small traders than large ones. The interaction of BMRs with order flows plays a crucial role in return predictability. Specifically, the predictive ability of BMRs for future returns is significantly enhanced for those stocks that have experienced book/market increases as well as high levels of net selling by way of small orders.

Details

Review of Behavioural Finance, vol. 1 no. 1/2
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 27 January 2022

Sirasani Srinivasa Rao and Subba Ramaiah V.

The purpose of this research is to design and develop a technique for polyphase code design for the radar system.

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Abstract

Purpose

The purpose of this research is to design and develop a technique for polyphase code design for the radar system.

Design/methodology/approach

The proposed fractional harmony search algorithm (FHSA) performs the polyphase code design. The FHSA binds the properties of the harmony search algorithm and the fractional theory. An optimal fitness function based on the coherence and the autocorrelation is derived through the proposed FHSA. The performance metrics such as power, autocorrelation and cross-correlation measure the efficiency of the algorithm.

Findings

The performance metrics such as power, autocorrelation and cross-correlation is used to measure the efficiency of the algorithm. The simulation results show that the proposed optimal phase code design with FHSA outperforms the existing models with 1.420859, 4.09E−07, 3.69E−18 and 0.000581 W for the fitness, autocorrelation, cross-correlation and power, respectively.

Originality/value

The proposed FHSA for the design and development of the polyphase code design is developed for the RADAR is done to reduce the effect of the Doppler shift.

Details

International Journal of Pervasive Computing and Communications, vol. 19 no. 3
Type: Research Article
ISSN: 1742-7371

Keywords

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