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1 – 10 of 73The purpose of this paper is to propose a new grey prediction model, GOFHGM (1,1), which combines generalised fractal derivative and particle swarm optimisation algorithms. The…
Abstract
Purpose
The purpose of this paper is to propose a new grey prediction model, GOFHGM (1,1), which combines generalised fractal derivative and particle swarm optimisation algorithms. The aim is to address the limitations of traditional grey prediction models in order selection and improve prediction accuracy.
Design/methodology/approach
The paper introduces the concept of generalised fractal derivative and applies it to the order optimisation of grey prediction models. The particle swarm optimisation algorithm is also adopted to find the optimal combination of orders. Three cases are empirically studied to compare the performance of GOFHGM(1,1) with traditional grey prediction models.
Findings
The study finds that the GOFHGM(1,1) model outperforms traditional grey prediction models in terms of prediction accuracy. Evaluation indexes such as mean squared error (MSE) and mean absolute error (MAE) are used to evaluate the model.
Research limitations/implications
The research study may have limitations in terms of the scope and generalisability of the findings. Further research is needed to explore the applicability of GOFHGM(1,1) in different fields and to improve the model’s performance.
Originality/value
The study contributes to the field by introducing a new grey prediction model that combines generalised fractal derivative and particle swarm optimisation algorithms. This integration enhances the accuracy and reliability of grey predictions and strengthens their applicability in various predictive applications.
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Yousra Trichilli, Hana Kharrat and Mouna Boujelbène Abbes
This paper assesses the co-movement between Pax gold and six fiat currencies. It also investigates the optimal time-varying hedge ratios in order to examine the properties of Pax…
Abstract
Purpose
This paper assesses the co-movement between Pax gold and six fiat currencies. It also investigates the optimal time-varying hedge ratios in order to examine the properties of Pax gold as a diversifier and hedge asset.
Design/methodology/approach
This paper examines the volatility spillover between Pax gold and fiat currencies using the framework of wavelet analysis, BEKK-GARCH models and Range DCC-GARCH. Moreover, this paper proposes to use the covariance and variance structure obtained from the new range DCC-GARCH framework to estimate the time-varying optimal hedge ratios, the optimal weighs and the hedging effectiveness.
Findings
Wavelet coherence method reveals that, at low frequency, large zone of co-movements appears for the pairs Pax gold/EUR, Pax gold/JPY and Pax gold/RUB. Further, the BEKK results show unidirectional (bidirectional) transmission effects between Pax gold and EUR, GBP, JPY and CNY (INR, RUB) fiat currencies. Moreover, the Range DCC results show that the Pax gold and the fiat currency returns are weakly correlated with low coefficients close to zero. Thus, Pax gold seems to serve as a safe haven asset against the systematic risk of fiat currency markets. In addition, the results of optimal weights show that rational investor should invest more in Pax gold and less in fiat currencies. Concerning the hedge ratios results, the findings reveal that the INR (JPY) fiat currency appears to be the most expensive (cheapest) hedge for the Pax-gold market. However, the JPY’s fiat currency appears to be the cheapest one. As for hedging effectiveness results, the authors found that hedging strategies including fiat currencies–Pax gold pairs are most likely to sharply decrease the portfolio’s risk.
Practical implications
A comprehensive understanding of the relationship between Pax Gold and fiat currencies is crucial for refining portfolio strategies involving cryptocurrencies. This research underscores the significance of grasping volatility transmissions between these currencies, providing valuable insights to guide investors in their decision-making processes. Moreover, it encourages further exploration into the interdependencies of digital currencies. Additionally, this study sheds light on effective contagion risk management, particularly during crises such as Covid-19 and the Russia–Ukraine conflict. It underscores the role of Pax Gold as a safe-haven asset and offers practical guidance for adjusting portfolios across various economic conditions. Ultimately, this research advances our comprehension of Pax Gold’s risk-return profile, positioning it as a potential hedge during periods of uncertainty, thereby contributing to the evolving literature on cryptocurrencies.
Originality/value
This study’s primary value lies in its pioneering empirical examination of the time-varying correlations and scale dependence between Pax Gold and fiat currencies. It goes beyond by determining optimal time-varying hedge ratios through the innovative Range-DCC-GARCH model, originally introduced by Molnár (2016) and distinguished by its incorporation of both low and high prices. Significantly, this analysis unfolds within the unique context of the Covid-19 pandemic and the Russian–Ukrainian conflict, marking a novel contribution to the field.
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Cheng Xiong, Bo Xu and Zhenqian Chen
This study aims to investigate the rarefaction effects on flow and thermal performances of an equivalent sand-grain roughness model for aerodynamic thrust bearing.
Abstract
Purpose
This study aims to investigate the rarefaction effects on flow and thermal performances of an equivalent sand-grain roughness model for aerodynamic thrust bearing.
Design/methodology/approach
In this study, a model of gas lubrication thrust bearing was established by modifying the wall roughness and considering rarefaction effect. The flow and lubrication characteristics of gas film were discussed based on the equivalent sand roughness model and rarefaction effect.
Findings
The boundary slip and the surface roughness effect lead to a decrease in gas film pressure and temperature, with a maximum decrease of 39.2% and 8.4%, respectively. The vortex effect present in the gas film is closely linked to the gas film’s pressure. Slip flow decreases the vortex effect, and an increase in roughness results in the development of slip flow. The increase of roughness leads to a decrease for the static and thermal characteristics.
Originality/value
This work uses the rarefaction effect and the equivalent sand roughness model to investigate the lubrication characteristics of gas thrust bearing. The results help to guide the selection of the surface roughness of rotor and bearing, so as to fully control the rarefaction effect and make use of it.
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Iqra Masroor and Jamshed Aslam Ansari
Compact and wideband antennas are the need of modern wireless systems that preferably work with compact, low-profile and easy-to-install devices that provide a wider coverage of…
Abstract
Purpose
Compact and wideband antennas are the need of modern wireless systems that preferably work with compact, low-profile and easy-to-install devices that provide a wider coverage of operating frequencies. The purpose of this paper is to propose a novel compact and ultrawideband (UWB) microstrip patch antenna intended for high frequency wireless applications.
Design/methodology/approach
A square microstrip patch antenna was initially modeled on finite element method-based electromagnetic simulation tool high frequency structure simulator. It was then loaded with a rectangular slit and Koch snowflake-shaped fractal notches for bandwidth enhancement. The fabricated prototype was tested by using vector network analyzer from Agilent Technologies, N5247A, Santa Clara, California, United States (US).
Findings
The designed Koch fractal patch antenna is highly compact with dimensions of 10 × 10 mm only and possesses UWB characteristics with multiple resonances in the operating band. The −10 dB measured impedance bandwidth was observed to be approximately 13.65 GHz in the frequency range (23.20–36.85 GHz).
Originality/value
Owing to its simple and compact structure, positive and substantial gain values, high radiation efficiency and stable radiation patterns throughout the frequency band of interest, the proposed antenna is a suitable candidate for high frequency wireless applications in the K (18–27 GHz) and Ka (26.5–40 GHz) microwave bands.
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Naz Bilgic and Genell Wells Ebbini
There is a growing interest in applying the principles of biophilic design to hotel lobbies to enhance positive user experiences. However, there is little empirical research in…
Abstract
Purpose
There is a growing interest in applying the principles of biophilic design to hotel lobbies to enhance positive user experiences. However, there is little empirical research in this area, particularly for abstract or indirect biophilic approaches. The current study analyzed the biophilic strategy of “organized complexity” (which entails structured hierarchical patterns) in a hotel lobby in relation to attention restoration outcomes.
Design/methodology/approach
A virtual reality approach was used to create three lobby designs, differing only in their degree of organized complexity. A between-subjects study was conducted with 91 participants, evaluating reactions to the lobby designs in terms of perceived attention restoration, perceived environmental complexity and environmental preferences.
Findings
A strong positive relationship was found between participants' perception of environmental complexity and feelings of restoration. However, no statistically significant correlation was found between restoration and the objective measures of organized complexity. This suggests that individual preferences or baseline responses may play a crucial role in the benefits associated with this aspect of biophilic design.
Originality/value
The findings suggest a novel possibility – that responses to organized complexity may not be universal but may instead depend on an individual’s background and personal preferences. While the study found that perceived complexity was associated with restoration, the objective features of the environment that incited these perceptions were different for different participants. This indicates that more research is needed into potentially relevant personal factors.
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Abstract
Purpose
This study aimed to explore the spatial accessibility dynamics of urban parks and their driving forces from 1901 to 2010 in terms of the dynamic relationships between spatial morphology and road networks, taking Nanjing City as an example.
Design/methodology/approach
This study mapped and examined the spatiotemporal distribution of urban parks and road networks in four time points at Nanjing: the 1910s, 1930s, 1960s and 2010s, using the analysis methodology of spatial design network analysis, kernel density estimation and buffer analysis. Two approaches of spatial overlaying and data analysis were adopted to investigate the accessibility dynamics. The spatial overlaying compared the parks' layout and the road networks' core, subcore and noncore accessible areas; the data analysis clarified the average data on the city-wide and local scales of the road networks within the park buffer zone.
Findings
The analysis of the changing relationships between urban parks and the spatial morphology of road networks showed that the accessibility of urban parks has generally improved. This was influenced by six main factors: planning implementation, political policies, natural resources, historical heritage and cultural and economic levels.
Social implications
The results provide a reference for achieving spatial equity, improving urban park accessibility and supporting sustainable urban park planning.
Originality/value
An increasing number of studies have explored the spatial accessibility of urban parks through the relationships between their spatial distribution and road networks. However, few studies have investigated the dynamic changes in accessibility over time. Discussing parks' accessibility over relatively long-time scales has practical, innovative and theoretical values; because it can reveal correlational laws and internal influences not apparent in short term and provide reference and implications for parks' spatial equity.
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Yuyan Luo, Xiaojing Yu, Fei Xie, Zheng Yang and Jun Wang
The purpose is to provide decision support for tourists recommending scenic spots and corresponding suggestions for the management of scenic spots.
Abstract
Purpose
The purpose is to provide decision support for tourists recommending scenic spots and corresponding suggestions for the management of scenic spots.
Design/methodology/approach
Based on the Baidu index data generated, this paper analyzes the temporal and spatial characteristics of network attention of 5A scenic spots in Sichuan Province. The online comment data are used to build the assessment model of scenic spots based on network attention, and the comment information of tourists is mined and analyzed through statistical analysis. At the same time, the key attributes of scenic spots from the perspective of network attention are evaluated and analyzed by using the probabilistic linguistic term set. Finally, this paper further constructs a recommendation model based on the key attribute set of scenic spots.
Findings
This paper uses different types of tourism network information, integrates multi-types of data and methods, fully excavates the value information of tourism network information, constructs the research framework of “scenic spot assessment + scenic spot recommendation” from the perspective of network attention, analyzes the network attention characteristics of scenic spots, evaluates the performance of scenic spots, and implements scenic spot recommendation.
Originality/value
This paper integrates multi-source data and multidisciplinary theoretical methods to form a scenic spot research framework of “assessment + recommendation” from the perspective of network attention.
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Atul Varshney, Vipul Sharma, T. Mary Neebha and N. Prasanthi Kumari
This paper aims to present a low-cost, edge-fed, windmill-shaped, notch-band eliminator, circular monopole antenna which is practically loaded with a complementary split ring…
Abstract
Purpose
This paper aims to present a low-cost, edge-fed, windmill-shaped, notch-band eliminator, circular monopole antenna which is practically loaded with a complementary split ring resonator (CSRR) in the middle of the radiating conductor and also uses a partial ground to obtain wide-band performance.
Design/methodology/approach
To compensate for the reduced value of gain and reflection coefficient because of the full (complete) ground plane at the bottom of the substrate, the antenna is further loaded with a partial ground and a CSRR. The reduction in the length of ground near the feed line improves the impedance bandwidth, and introduced CSRR results in improved gain with an additional resonance spike. This results in a peak gain 3.895dBi at the designed frequency 2.45 GHz. The extending of three arms in the circular patch not only led to an increase of peak gain by 4.044dBi but also eliminated the notch band and improved the fractional bandwidth 1.65–2.92 GHz.
Findings
The work reports a –10dB bandwidth from 1.63 GHz to 2.91 GHz, which covers traditional coverage applications and new specific uses applications such as narrow LTE bands for future internet of things (NB-IoT) machine-to-machine communications 1.8/1.9/2.1/2.3/2.5/2.6 GHz, industry, automation and business-critical cases (2.1/2.3/2.6 GHz), industrial, society and medical applications such as Wi-MAX (3.5 GHz), Wi-Fi3 (2.45 GHz), GSM (1.9 GHz), public safety band, Bluetooth (2.40–2.485 GHz), Zigbee (2.40–2.48Ghz), industrial scientific medical (ISM) band (2.4–2.5 GHz), WCDMA (1.9, 2.1 GHz), 3 G (2.1 GHz), 4 G LTE (2.1–2.5 GHz) and other personal communication services applications. The estimated RLC electrical equivalent circuit is also presented at the end.
Practical implications
Because of full coverage of Bluetooth, Zigbee, WiFi3 and ISM band, the proposed fabricated antenna is suitable for low power, low data rate and wireless/wired short-range IoT-enabled medical applications.
Originality/value
The antenna is fabricated on a piece (66.4 mm × 66.4 mm × 1.6 mm) of low-cost low profile FR-4 epoxy substrate (0.54
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Zengli Mao and Chong Wu
Because the dynamic characteristics of the stock market are nonlinear, it is unclear whether stock prices can be predicted. This paper aims to explore the predictability of the…
Abstract
Purpose
Because the dynamic characteristics of the stock market are nonlinear, it is unclear whether stock prices can be predicted. This paper aims to explore the predictability of the stock price index from a long-memory perspective. The authors propose hybrid models to predict the next-day closing price index and explore the policy effects behind stock prices. The paper aims to discuss the aforementioned ideas.
Design/methodology/approach
The authors found a long memory in the stock price index series using modified R/S and GPH tests, and propose an improved bi-directional gated recurrent units (BiGRU) hybrid network framework to predict the next-day stock price index. The proposed framework integrates (1) A de-noising module—Singular Spectrum Analysis (SSA) algorithm, (2) a predictive module—BiGRU model, and (3) an optimization module—Grid Search Cross-validation (GSCV) algorithm.
Findings
Three critical findings are long memory, fit effectiveness and model optimization. There is long memory (predictability) in the stock price index series. The proposed framework yields predictions of optimum fit. Data de-noising and parameter optimization can improve the model fit.
Practical implications
The empirical data are obtained from the financial data of listed companies in the Wind Financial Terminal. The model can accurately predict stock price index series, guide investors to make reasonable investment decisions, and provide a basis for establishing individual industry stock investment strategies.
Social implications
If the index series in the stock market exhibits long-memory characteristics, the policy implication is that fractal markets, even in the nonlinear case, allow for a corresponding distribution pattern in the value of portfolio assets. The risk of stock price volatility in various sectors has expanded due to the effects of the COVID-19 pandemic and the R-U conflict on the stock market. Predicting future trends by forecasting stock prices is critical for minimizing financial risk. The ability to mitigate the epidemic’s impact and stop losses promptly is relevant to market regulators, companies and other relevant stakeholders.
Originality/value
Although long memory exists, the stock price index series can be predicted. However, price fluctuations are unstable and chaotic, and traditional mathematical and statistical methods cannot provide precise predictions. The network framework proposed in this paper has robust horizontal connections between units, strong memory capability and stronger generalization ability than traditional network structures. The authors demonstrate significant performance improvements of SSA-BiGRU-GSCV over comparison models on Chinese stocks.
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Luiz Eduardo Gaio and Daniel Henrique Dario Capitani
This study investigates the impacts of the Russia–Ukraine conflict on the cross-correlation between agricultural commodity prices and crude oil prices.
Abstract
Purpose
This study investigates the impacts of the Russia–Ukraine conflict on the cross-correlation between agricultural commodity prices and crude oil prices.
Design/methodology/approach
The authors used MultiFractal Detrended Fluctuation Cross-Correlation Analysis (MF-X-DFA) to explore the correlation behavior before and during conflict. The authors analyzed the price connections between future prices for crude oil and agricultural commodities. Data consists of daily futures price returns for agricultural commodities (Corn, Soybean and Wheat) and Crude Oil (Brent) traded on the Chicago Mercantile Exchange from Aug 3, 2020, to July 29, 2022.
Findings
The results suggest that cross-correlation behavior changed after the conflict. The multifractal behavior was observed in the cross correlations. The Russia–Ukraine conflict caused an increase in the series' fractal strength. The study findings showed that the correlations involving the wheat market were higher and anti-persistent behavior was observed.
Research limitations/implications
The study was limited by the number of observations after the Russia–Ukraine conflict.
Originality/value
This study contributes to the literature that investigates the impact of the Russia–Ukraine conflict on the financial market. As this is a recent event, as far as we know, we did not find another study that investigated cross-correlation in agricultural commodities using multifractal analysis.
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