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The purpose of this paper is to present a fast, economical and practical method for mathematical modeling of aerodynamic characteristics of rectangular wing in ground (WIG) effect.

Reynolds averaged Navier–Stokes (RANS) equations were converted to Bernoulli equation by reasonable assumptions. Also, Helmbold’s equation has been developed for calculation of the slope of wing lift coefficient in ground effect by defining equivalent aspect ratio (ARe). Comparison of present work results against the experimental results has shown good agreement.

A practical mathematical modeling with lower computational time and higher accuracy was presented for calculating aerodynamic characteristics of rectangular WIG effect. The relative error between the present work results and the experimental results was less than 8 per cent. Also, the accuracy of the proposed method was checked by comparing with the numerical methods. The comparison showed fairly good accuracy.

Aerodynamic surfaces in ground effect were used for reducing wetted surface and increasing speed in high-speed marine and novel aeronautical vehicles.

The proposed method is useful for investigation of aerodynamic performance of WIG vehicles and racing boats with aerodynamic surfaces in ground effect.

The proposed method has reduced the computational time significantly as compared to numerical simulation that allows conceptual design of the WIG crafts and is also economical.

The paper aims to analyze the application areas of augmented reality (AR) in the construction industry to enhance its usage level. The objectives are to assess the level of awareness of hardware and software devices of AR, examine the application areas of AR and reveal lagging areas in the construction industry.

A survey of construction professionals engaged in the built environment was sent a well-structured questionnaire in the study area. The professionals involved are project managers, architects, engineers, builders and quantity surveyors. The sampling technique used in selecting those professionals was convenience sampling. Descriptive and inferential statistics were used in analyzing the retrieved data.

The five most applied areas of Augmented Realities are Visualization and simulation of construction works; Project documentation; Project planning, monitoring and modification. The other two areas include on-site real-time information retrieval and health and safety measures. The findings also revealed the difference in the opinions of professionals among the variables. The results showed that there is significant difference in the opinions of the professionals regarding the application areas except one, that is automated measurement. Automated measurement has the same converging opinions of all professionals engaged in the study.

The study gives deep insight into possible areas where AR can be used in construction. The awareness level of hardware and software devices of AR was revealed by showing that those devices are upcoming in their usage. The areas of application of AR in construction are in their nascent stage. When there is proper implementation of this technology it will improve management in construction, minimize health and safety issues, and enhance the efficiency of workers through visualization and simulation.

Provides a framework for analysing the financing of state pensions with a wide range of policy options. Special attention is given, however, to two special cases: the first involves a means‐tested pension similar to the Australian scheme, while the second is similar to the basic pension (the first tier) in the UK. Emphasis is given to the implications of population ageing for pension finance in each scheme; a range of policies can be considered using specially designed computer programs.

In this paper, the neoclassical theory of labour supply and a neo‐Keynesian theory of labour supply are investigated and the equilibrium prediction of the two theories are tested using cointegration methods. The Granger and Engle two step procedure is applied to quarterly Canadian labour supply data. This approach suggests that the existence of an equilibrium relationship in the data should coincide with the existence of a cointegrating vector for the individually non‐stationary time series. No such vector can be found for the neoclassical model but such a vector can be found for the neo‐Keynesian model.

The purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.

This article analysed the presence of long-memory volatility in five Asian equity indices, namely, SENSEX, CNIA, NIKKEI225, KO11 and FTSTI, using five-min intraday return series from 05 January 2015 to 06 August 2015 using two approaches, i.e. conditional volatility and realized volatility, for forecasting long-term memory. It employs conditional-generalized autoregressive conditional heteroscedasticity (GARCH), i.e. autoregressive fractionally integrated moving average (ARFIMA)-FIGARCH model and ARFIMA-asymmetric power autoregressive conditional heteroscedasticity (APARCH) models, and unconditional volatility realized volatility using autoregressive integrated moving average (ARIMA) and ARFIMA in-sample forecasting models to estimate the persistence of the long-term memory.

Given the GARCH framework, the ARFIMA-APARCH long-memory model gave the better forecast results signifying the importance of accounting for asymmetric information when modelling volatility in a financial market. Using the unconditional realized volatility results from the Singapore and Indian markets, the ARIMA model outperforms the ARFIMA model in terms of forecast performance and provides reasonable forecasts.

The issue of long memory has important implications for the theory and practice of finance. It is well-known that accurate volatility forecasts are important in a variety of settings including option and other derivatives pricing, portfolio and risk management.

It could be said that using long-memory augmented models would give better results to investors so that they could analyse the market trends in returns and volatility in a more accurate manner and reach at an informed decision. This is useful to minimize the risks.

This research enhances the literature by estimating the influence of intraday variables on daily volatility. This is one of very few studies that uses conditional GARCH framework models and unconditional realized volatility estimates for forecasting long-term memory. The authors find that the methods complement each other.

This paper aims to examine the impact of interest rate liberalisation on the constancy of mean interest rates in China to test the effect of financial reforms and provide strategies for future practices.

Bai and Perron’s (1998, 2003) methodology is used to test for structural breaks in the mean of different interest rates using Chinese data, and break dates are measured against the exact dates of the interest rate liberalisation. The performance of mean interest rates across the regimes defined by liberalisation dates is also investigated.

The main results show that interest rates generally increase (decrease) after deregulations on lending (deposit) rates, but these changes are not significant to induce a negative impact on the domestic economy. Instead, the infrequent but important shifts (structural breaks) in mean interest rates are caused by factors other than liberalisation such as economic shocks, inflationary expectation and liquidity crunch in China.

To the best of the author’s knowledge, this paper provides unprecedented evidence on significant changes in interest rates attributable to the liberalisation within the Chinese context.

The purpose of this numerical study is to analyse the character of transition from laminar to chaotic convection in a fluid layer bounded by no‐slip walls in two space dimensions for varying aspect ratio odd‐shaped enclosures consisting of two rectangular chambers, with a linking horizontal enclosure. For a medium Prandtl number fluid (Pr=7), the numerical solution of two‐dimensional Navier‐Stokes momentum and energy equations with Bousinessq approximation has been carried out. It has been found that there are finite Rayleigh numbers Ra₁, Ra₂ and Ra₃ for the onset of single, two and multiple frequency oscillatory motion at different spatial locations in the enclosure. As Ra is further increased period doubling is observed. The onset of strong chaos appears when Ra=Ra₃. This system does not revert to steady state convection at high Ra as observed by other researchers for the case of Rayleigh‐Benard convection. Moreover, the period doubling transition process is consistent with the scenario of Ruelle, Takens and Newhouse. As Ra increases, the power spectrum, and time series of various dynamical variable signals, etc. all show an increasing degree of characteristics of chaos.

Social outreach campaigns such as mainstream commercial marketing campaigns are drawn to digital communication practices for increased visibility, speed and recall. This paper aims to highlight the usefulness and application of augmented reality (AR) technologies and proposes a change-driven usage of the AR environments for social marketing.

Paradigmatic structural analysis is used to extract the underlying schematic forms. A multimodal analytic approach is used to propose the conceptual framework.

AR is defined vis-à-vis conceptualizations of reality and hyper-reality from the Vedantic philosophical texts and treatises. The study examines and demonstrates an earlier version of AR expression in ancient times in the use of spatio-temporal constructs and their degrees of modality. It derives a conceptual schema based on AR resonant applications in narratives from the Vedantic literature. Based on these, the study highlights the persuasive appeal and co-creative potential of these illustrative examples to recommend marketing communication strategies for social outreach campaigns.

The analysis recognizes a conceptual bridge between human extra-sensory/transcendental ability and contemporary technology. This study identifies five propositional structures (PS). It opens up the field of social marketing research to alternative methodologies such as multimodal analysis.

While most of contemporary AR usage is in commercial marketing, this study has derived specific guiding principles/propositional structures. These can be applied to create specific virtual environments that can simulate and demonstrate desirable societal outcomes and behaviours. As newer technologies permit further and more futuristic design interventions, developers could experiment with transitional states to impact behaviours, with implications for experimental layering of information.

This study responds to a call for innovative design interventions in the field of social marketing. Its originality lies in its use of the Vedantic framework which has not been explored in this direction elsewhere.

The purpose of this paper is to investigate the factors that influence Malaysian manufacturing sector investment in accounts receivable (AR), an asset seen by many as one of the riskiest in any company’s balance sheet.

The authors test several theories, related to AR, using a cross-section of 262 listed manufacturing firms over a period of five years (2007-2011). Both fixed and random effect approaches are adopted to deal with potential heterogeneity across firms.

The results show that investment in AR in Malaysia are influenced by firm size, short-term finance, sales growth and collateral. Profit, liquidity and gross margins have no role in affecting the decision of trade credit granting to customers. The results are inconsistent with previous studies. Size and short-term finance have a negative, rather than positive, impact. Liquidity and gross margins have no, rather than positive, effect. While profit and sales growth are predicted to feature a U-shaped relationship with investment in AR, the former is insignificant while the latter is strictly increasing. The only factor found to be consistent with prior studies is collateral.

The results have two principal implications. First, policy makers should not take a holistic view of the trade credit market. Given that policy makers aim to improve liquidity and trade, they should design policies that are not only country specific but also sector specific. As is clear from our results, what holds for other countries or sectors may not necessarily be true for the Malaysian manufacturing sector. This has important implications for policy makers in emerging economies.

Investment in AR, in the Malaysian manufacturing sector, is impacted by many of the factors implied by either theory or empirical evidence. However, the main finding in this paper is that the Malaysian manufacturing sector is rather different. First, while liquidity and gross margin have been found to have a positive and significant effect on AR helping hand theory in prior studies, the results show that these two factors play no role in influencing the level of AR in the Malaysian manufacturing sector.

Unlike the experience in developed economies, firms in our sample that have access to short-term finance are less likely to grant trade credit. This suggests that the helping hand theory does not hold as far as the Malaysian manufacturing firms are concerned: firm that have better access to short-term finance in Malaysia do not use trade credit to pass on the benefit to their customers by granting them trade credit.

It is unclear why firms invest in AR given the high risks of uncollectability as well as tedious, time-consuming and costly legal process for debt recovery compared to firms from more developed economies. This paper examines the reasons business-to-business lending, through AR, is widespread in Malaysia and investigates the factors that affect this decision despite the risk involved. To our knowledge, this is the first study to date that looks at the factors that influence AR level in the Malaysian manufacturing sector.

In this paper, we consider a two color multi-drawing urn model. At each discrete time step, we draw uniformly at random a sample of m balls (m≥1) and note their color, they will be returned to the urn together with a random number of balls depending on the sample’s composition. The replacement rule is a 2 × 2 matrix depending on bounded discrete positive random variables. Using a stochastic approximation algorithm and martingales methods, we investigate the asymptotic behavior of the urn after many draws.