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Article
Publication date: 15 August 2016

Behzad Bayat, Julita Bermejo-Alonso, Joel Carbonera, Tullio Facchinetti, Sandro Fiorini, Paulo Goncalves, Vitor A.M. Jorge, Maki Habib, Alaa Khamis, Kamilo Melo, Bao Nguyen, Joanna Isabelle Olszewska, Liam Paull, Edson Prestes, Veera Ragavan, Sajad Saeedi, Ricardo Sanz, Mae Seto, Bruce Spencer, Amirkhosro Vosughi and Howard Li

IEEE Ontologies for Robotics and Automation Working Group were divided into subgroups that were in charge of studying industrial robotics, service robotics and autonomous…

992

Abstract

Purpose

IEEE Ontologies for Robotics and Automation Working Group were divided into subgroups that were in charge of studying industrial robotics, service robotics and autonomous robotics. This paper aims to present the work in-progress developed by the autonomous robotics (AuR) subgroup. This group aims to extend the core ontology for robotics and automation to represent more specific concepts and axioms that are commonly used in autonomous robots.

Design/methodology/approach

For autonomous robots, various concepts for aerial robots, underwater robots and ground robots are described. Components of an autonomous system are defined, such as robotic platforms, actuators, sensors, control, state estimation, path planning, perception and decision-making.

Findings

AuR has identified the core concepts and domains needed to create an ontology for autonomous robots.

Practical implications

AuR targets to create a standard ontology to represent the knowledge and reasoning needed to create autonomous systems that comprise robots that can operate in the air, ground and underwater environments. The concepts in the developed ontology will endow a robot with autonomy, that is, endow robots with the ability to perform desired tasks in unstructured environments without continuous explicit human guidance.

Originality/value

Creating a standard for knowledge representation and reasoning in autonomous robotics will have a significant impact on all R&A domains, such as on the knowledge transmission among agents, including autonomous robots and humans. This tends to facilitate the communication among them and also provide reasoning capabilities involving the knowledge of all elements using the ontology. This will result in improved autonomy of autonomous systems. The autonomy will have considerable impact on how robots interact with humans. As a result, the use of robots will further benefit our society. Many tedious tasks that currently can only be performed by humans will be performed by robots, which will further improve the quality of life. To the best of the authors’knowledge, AuR is the first group that adopts a systematic approach to develop ontologies consisting of specific concepts and axioms that are commonly used in autonomous robots.

Details

Industrial Robot: An International Journal, vol. 43 no. 5
Type: Research Article
ISSN: 0143-991X

Keywords

Available. Content available
Article
Publication date: 17 August 2012

Maki K. Habib and Yvan Baudoin

614

Abstract

Details

Industrial Robot: An International Journal, vol. 39 no. 5
Type: Research Article
ISSN: 0143-991X

Available. Content available
Article
Publication date: 3 May 2010

80

Abstract

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Industrial Robot: An International Journal, vol. 37 no. 3
Type: Research Article
ISSN: 0143-991X

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Article
Publication date: 21 August 2009

Jiajun Gu and Qixin Cao

Path planning approaches based on conventional occupancy grid maps are problematic in off‐road environment because impossible areas include not only obstacles but also landscapes…

426

Abstract

Purpose

Path planning approaches based on conventional occupancy grid maps are problematic in off‐road environment because impossible areas include not only obstacles but also landscapes like ramps and pits. The purpose of this paper is to develop a path planning method in a hybrid grid map, which aims to provide a better solution for outdoor navigation.

Design/methodology/approach

A hybrid vision system which consists of one stereo vision and one omnidirectional vision is adopted to provide environmental information for 2.5D grid and 2D grid mapping, respectively. An improved planning method originated from conventional D*‐based search algorithm is proposed for more efficient navigation in such hybrid grid maps.

Findings

It is confirmed by simulations and experiments that the path planning in the hybrid grid map is more efficient than that in conventional grid maps. Furthermore, it helps to guarantee a safe exploration for field and planetary robots.

Originality/value

This paper proposes a path planning approach in a hybrid grid map representing unstructured environment. The map consists of two different grid representations with diverse resolutions and structures, named 2.5D and 2D grids. The navigation process is expected to become efficient by reducing the replanning times and track length.

Details

Industrial Robot: An International Journal, vol. 36 no. 5
Type: Research Article
ISSN: 0143-991X

Keywords

Available. Open Access. Open Access
Article
Publication date: 22 May 2023

Peter Palm and Helena Bohman

Real estate is a capital-intensive industry for which the asset values tend to be highly volatile and uncertain. Transaction costs in the industry are therefore high, and…

2298

Abstract

Purpose

Real estate is a capital-intensive industry for which the asset values tend to be highly volatile and uncertain. Transaction costs in the industry are therefore high, and transparency for investors may be low. The need to signal reliable estimates of property assets, in the communication to external stakeholders, can therefore be expected to be of extra importance in this sector. The purpose of this paper is to investigate how real estate firms use big four auditors to signal quality.

Design/methodology/approach

The authors use Swedish firm level data containing all limited liability real estate companies in the country to determine the determinants of big four auditors. The data set consists of 34,306 observations and is analyzed through logit regressions.

Findings

The results show that big four companies are primarily contracted by large and mature companies, rather than new firms or firms with volatile financial records, although the latter could be expected to have a large need to signal quality. The authors also find that firms listed on the stock market and firms targeting public use real estate are more inclined to use big four companies.

Originality/value

Real estate is a capital-intensive industry for which the asset values tend to be highly volatile and uncertain. Transaction costs in the industry are therefore high, and transparency for investors may be low. The need to signal reliable estimates of property assets, in the communication to external stakeholders, can therefore be expected to be of extra importance in this sector. No prior study of this area has been detected.

Details

Journal of European Real Estate Research, vol. 16 no. 2
Type: Research Article
ISSN: 1753-9269

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Article
Publication date: 8 August 2024

Imen Khelil and Hichem Khlif

This study aims to provide a timely review concerning the determinants and economic consequences of fair value reporting in real estate industry, as these topics have been gaining…

162

Abstract

Purpose

This study aims to provide a timely review concerning the determinants and economic consequences of fair value reporting in real estate industry, as these topics have been gaining momentum in accounting literature recently.

Design/methodology/approach

Diverse editorial sources (e.g. Elsevier, Emerald, Meridian Allenpress, Springer, Sage, Taylor & Francis and Wiley-Blackwell) were consulted to identify relevant studies for this review. Keywords used to collect studies include “fair value” and “IAS 40” or “investment property” and “fair value or “fair value and real estate.” This search yields 33 studies published between 2009 and 2023.

Findings

The synthesis of reviewed papers suggests that studies were mainly conducted in the European countries after the mandatory adoption of international financial reporting standards (IFRS) in 2005 and the Australian setting. The first stream of research deals with the choice of fair value approach. Reported empirical findings suggest that corporate size and market-to-book ratio are negatively associated with fair value choice, whereas ownership dispersion increases the likelihood of choosing fair value approach. The empirical evidence concerning the determinants of fair value magnitude suggests the type of appraiser represents a key predictor of the extent of fair value use. The second stream of research examines the impact of fair value reporting in real estate industry. Findings suggest that empirical evidence is still limited with respect to creditors, managers and financial analysts; fair value reporting is generally associated with higher level of value relevance for investors; and the use of Level 3 inputs in fair value estimates for investment properties is associated with high degree of estimation uncertainty for external auditors leading to increased audit risk and fees.

Practical implications

With respect to regulators, this review emphasizes that the beneficial impacts of fair value reporting are linked to institutional characteristics (e.g. legal system, the degree of market development), the reliability concerns regarding fair value estimates and the independence of appraiser. Because real estate industry is generally characterized by the lack of active market, regulators may adopt regulations requiring the independence external appraiser.

Originality/value

This literature review represents a historical record and an introduction for accounting scholars, in emerging economies and other settings, where fair value accounting has gained wide acceptance among the investment community. It also offers guidance for future research avenues.

Details

Journal of Financial Management of Property and Construction , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1366-4387

Keywords

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Article
Publication date: 8 December 2021

Pinprapa Sangchan, Md. Borhan Uddin Bhuiyan and Ahsan Habib

The paper aims to investigate the value-relevance of changes in fair values of investment property reported under International Accounting Standards (IAS) 40 and International…

783

Abstract

Purpose

The paper aims to investigate the value-relevance of changes in fair values of investment property reported under International Accounting Standards (IAS) 40 and International Financial Reporting Standards (IFRS) 13.

Design/methodology/approach

Multivariate regression models are used to regress cumulative market-adjusted stock returns of real estate firms on changes in fair values, along with control variables and corporate governance variables, in order to examine the research question.

Findings

Using hand-collected data from the Australian Real Estate Industry (AREI), the authors find that changes in fair values of investment property are value-relevant for equity investors. The authors further find that using unobservable inputs in an active market (Level 3 inputs) does not diminish the information content of fair values. The authors document that properties valued exclusively by directors have a significantly reduced value-relevance, whereas property valuations made collectively by both directors and independent valuers have superior value-relevance, possibly owing to the combination of inside knowledge and externally imposed monitoring. Collectively, the findings suggest that in the real estate industry, where unobservable inputs are commonly used to determine fair values of properties, the fair values determined subjectively are perceived to be sufficiently informative and relevant.

Research limitations/implications

The authors' findings have important implications for accounting standard-setters in considering whether an external valuation should be required and whether the extensive measurement-related fair value disclosure requirements are useful.

Originality/value

The study extends previous archival evidence and complements prior commentaries on experimental and analytical work in the Australian regulatory environment.

Details

Asian Review of Accounting, vol. 30 no. 1
Type: Research Article
ISSN: 1321-7348

Keywords

Available. Content available
Book part
Publication date: 9 September 2024

Muhammad Hassan Raza

Free Access. Free Access

Abstract

Details

The Multilevel Community Engagement Model
Type: Book
ISBN: 978-1-83797-698-0

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Article
Publication date: 20 May 2022

Ayanda Matsane, Franklin Nakpodia and Geofry Areneke

This paper aims to explore whether fair value Levels 1 and 2 measurements are more value relevant than Level 3 fair value measurements in a less-active market. Specifically, this…

538

Abstract

Purpose

This paper aims to explore whether fair value Levels 1 and 2 measurements are more value relevant than Level 3 fair value measurements in a less-active market. Specifically, this research addresses two objectives. Firstly, it examines the value relevance of fair value measures for each disclosure level of fair value. Secondly, it assesses the impact of corporate governance on the value relevance of less observable fair value disclosures (Levels 2 and 3).

Design/methodology/approach

Drawing insights from agency theorising, this research adopts a quantitative approach (regression analysis) that investigates data from a less active financial market (South Africa).

Findings

Contrary to agency theory suppositions, the results show that investors in a less active market value management inputs more than market (more transparent) information. The authors also observe that investors pay limited interest to corporate governance structures when pricing fair value measurement, implying that they rely on factors beyond corporate governance mechanisms.

Originality/value

The authors’ findings offer useful evidence to standard setters and preparers of financial information. While the International Accounting Standard Board suggests that investors value transparent financial information, the data shows that investors in less-active markets value management’s inputs more than those of the market.

Details

Corporate Governance: The International Journal of Business in Society, vol. 22 no. 7
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 16 December 2021

Alisha Mahajan and Kakali Majumdar

Textile, listed as one of the highly environmentally sensitive goods, its trade is susceptible to be influenced by the implementation of stringent environmental policies. This…

717

Abstract

Purpose

Textile, listed as one of the highly environmentally sensitive goods, its trade is susceptible to be influenced by the implementation of stringent environmental policies. This paper aims to investigate the long-run relationship between revealed comparative advantage (RCA) and Environmental Policy Stringency Index (EPSI) for textile exports of G20 countries in panel data setup.

Design/methodology/approach

Apart from trend analysis, the authors have employed Pedroni and Westerlund panel cointegration method and fully modified ordinary least square (FMOLS) method to study the long-run relationship between RCA and EPSI in presence of cross-sectional dependence.

Findings

A strong link between trade and environmental stringency is observed for textile in the present study. For G20 countries, slight evidence of the Pollution Haven Hypothesis has also been witnessed in the study. Correspondingly, the results reveal the presence of long-run association between the variables under study, implying that stringent environmental policies reduce RCA for some countries, whereas some countries witness the Porter hypothesis.

Research limitations/implications

The results imply that policy formulation should not aim at limiting the efforts of connecting RCA to environmental stringency but to set trade policies in a wider framework, considering environmental concerns, as these are inseparable subjects. However, this study also provides relevant real-world implications that can support further research.

Practical implications

The present study has important implications for textile exporters such as green innovations. The Porter hypothesis can be a beneficial tool for G20 exporters in enhancing their export performance, especially for the ones dealing in environmentally sensitive goods. This study offers relevant policy implications and provides directions for future research on global trade and environment nexus.

Originality/value

This study deals in a debatable area of research that evaluates the interlinkages between environmental stringency and global trade flows in the G20 countries. An important observation of the study is the asymmetrical nature of policy stringency across different countries and its impact on trade. The unavailability of updated data is the limitation of the present study.

Details

Benchmarking: An International Journal, vol. 29 no. 9
Type: Research Article
ISSN: 1463-5771

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