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The purpose of this paper is to propose an improved optimization method for image matching problem, which is based on multi-scale Gaussian mutation pigeon-inspired optimization (MGMPIO) algorithm, with the objective of accomplishing the complicated image matching quickly.

The hybrid model of multi-scale Gaussian mutation (MGM) mechanism and pigeon-inspired optimization (PIO) algorithm is established for image matching problem. The MGM mechanism is a nonlinear model, which can adjust the position of pigeons by mutation operation. In addition, the variable parameter (VP) mechanism is exploited to adjust the map and compass factor of the original PIO. Low-cost quadrotor, a type of electric multiple rotorcraft, is used as a carrier of binocular camera to obtain the images.

This work improved the PIO algorithm by modifying the search strategy and adding some limits, so that it can have better performance when applied to the image matching problem. Experimental results show that the proposed method demonstrates satisfying performance in convergence speed, robustness and stability.

The proposed MGMPIO algorithm can be easily applied to solve practical problems and accelerate convergence speed of the original PIO, and thus enhancing the speed of matching process, which will considerably increase the effectiveness of algorithm.

A hybrid model of the MGM mechanism and PIO algorithm is proposed for image matching problem. The VP mechanism and low-cost quadrotor is also utilized in image matching problem.

The research analyzes the convergence of several socioeconomic indicators in a sample of 137 countries over the period 1990–2019. Applying log t-convergence tests, it finds that socioeconomic indicators’ convergence is divergent. Measuring seven different indicators, there are only two indicators of life expectancy and access to the internet converging at the global level, while the remaining indicators of gross domestic product per capita (GDPP), foreign direct investment (FDI) inflow, urbanization, fertility, and CO₂ emissions do not. An extension to sub-sample analysis by levels of income and clustering convergence clubs is employed to confirm the heterogeneity and complexity of development pathways among countries. There are several insights for researchers and governments regarding future research and policies, especially for the development of developing countries.

Takeovers play a critical role as an external corporate governance mechanism to ensure investor protection. There is a long-standing debate on whether the convergence of corporate governance to global standards can enable emerging economies to ensure investor protection. This paper aims to analyse the evolution of the takeover code, namely, Securities Exchange Board of India’s Substantial Acquisition of Shares and Takeovers (2011) in India from the lens of investor protection. It then compares the takeover provisions in India, the USA, the UK, Singapore and Australia to examine the extent of convergence and its implications for investor protection.

Using a cross-national comparative analysis of takeover mechanisms in common law countries, the study analyses the extent and relevance of convergence in form. The focus of the comparison is on regulations governing offer size, offer price, creeping acquisition and initial trigger limit for the mandatory open offer.

The findings suggest that certain provisions such as the initial trigger threshold for the mandatory offer and the offer prices of the Indian takeover code are converging with the standards in common law countries. However, the offer price determination based on market prices may not reflect true market value in an inefficient market like India. Other provisions such as creeping acquisition and offer size are not only diverging from the international standards but are also inconsistent with the key objective of investor protections of the Indian regulator.

Indian takeover regulation needs to converge to higher global standards to ensure adherence to improved investor protection. This needs to be done for the initial trigger limit for mandatory bid and offer prices, after accounting for the differences in institutional structure. The Indian regulators need to revisit provisions on the initial trigger, creeping acquisition to converge to the broader principle of investor protection.

This technical paper provides a comprehensive depiction of takeover mechanisms in an emerging economy context as a means of investor protection. Further using a comparative lens, it analyses the relevance of convergence of takeover laws. Thus, advances the theoretical knowledge of limited extant work on external corporate governance mechanism in an emerging economy context.

Over the past two decades, scholars have noted an increasing global convergence in the policy and practice of education that predominantly contains Western ideals of mass schooling serving as a model for national school systems (Bieber & Martens, 2011; Goldthorpe, 1997; Spring, 2008). A number of transnational organizations contribute disproportionately to global educational discourse, particularly the Organization for Economic Cooperation and Development (OECD) through its international comparative performance measure, the Programme for International Student Assessment (PISA). This study conducted a critical discourse analysis of the OECD document PISA 2012 Results: Excellence through Equity (OECD, 2013) to examine the ways that PISA and the OECD conceive of educational equity in a global context. Given the growing convergence of global educational policy, the way that transnational educational organizations address equity has crucial implications for the ways that the world intervenes in schooling to promote or diminish equitable outcomes. Analysis revealed that the OECD and the PISA foreground economistic notions of educational equity, which diminishes the role of other factors (i.e., race/ethnicity, gender, immigration status, language) that mediate equity in schools. Findings and implications are discussed.

This paper aims to explore convergence of accounting standards across worldwide adopted measures to investigate whether countries that have not completely adopted International Accounting Standards across the globe have displayed a tendency to act so.

The new panel convergence methodology, developed by Phillips and Sul (2007), is employed.

The empirical findings suggest that countries form distinct convergent clubs, albeit on a limited prevalence, yielding support to the notion that on a global basis firms and countries have initiated processes that will eventually lead them to a uniform pattern of employing common accounting standards.

These findings have substantial implications on a firm level, mainly for differences in accounting quality as well as for differences in their cost of capital, thus leading the regulatory authorities to opt for further improvements in financial reporting.

The novelties of this paper first, stem from the fact that it is the first time in the relevant literature that an empirical study attempts to formally measure whether the accounting world exhibits a tendency for accounting standards convergence or whether tactics and policies remain stagnant, acquiring drastic policy measures to speed up the convergence process. In addition, this study employs the implementation of the new methodology of panel convergence testing. This methodology has several appealing characteristics.

The purpose of this paper is to provide an updated picture of the convergence process between International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (US GAAP), with IFRS clearly emerging as a global financial reporting benchmark. This study is aimed at evaluating the main benefits but also some significant issues arising from the adoption of a single set of accounting standards.

The main examples of theoretical and empirical literature for and against IFRS implementation are reviewed.

Since markets became increasingly global, the comparability of financial statements is required to enable better corporate communication and transparency to the advantage of all stakeholders. The main difficulties of IFRS adoption by the USA are explored.

The study’s implications are to emphasize the practical obstacles to resolving the issues of financial communication through a uniform set of standards, by highlighting the importance of taking into account other dynamics in improving the corporate disclosure domestically and globally.

The key contribution of this study is to reflect on the best ways to reach global communication without sacrificing the effectiveness and affordability of financial reporting.

A novel sexual adaptive genetic algorithm (AGA) based on Baldwin effect for global optimization is proposed to overcome the shortcomings of traditional GAs, such as premature convergence, stochastic roaming, and poor capabilities in local exploring. This paper seeks to discuss the issues.

The proposed algorithm simulates sexual reproduction and adopts an effective gender determination method to divide the population into two subgroups of different genders. Based on the competition, cooperation, and innate differences between two gender subgroups, the proposed algorithm adjusts adaptively sexual genetic operators. Furthermore, inspired by the acquired reinforcement learning theory based on Baldwin effect, the proposed algorithm guides individuals to forward or reverse learning and enables the transmission of fitness information between parents and offspring to adapt individuals' acquired fitness.

Global convergence of the proposed algorithm is proved in detail. Numerical simulations are conducted for a set of benchmark functions with different dimensional decision variables. The performance of the proposed algorithm is compared with that of the other evolutionary algorithms published recently. The results indicate that the proposed algorithm can find optimal or closer‐to‐optimal solutions, and is more competitive than the compared algorithms.

The proposed algorithm introduces, integrates and simulates correctly and adequately, for the first time, the mechanisms of sexual reproduction, Baldwin effect and adaptation to GAs by referring to the latest research results of modern biology and evolution theory.

Outlines a general methodology for the solution of the system of algebraic equations arising from the discretization of the field equations governing coupled problems. Considers that this discrete problem is obtained from the finite element discretization in space and the finite difference discretization in time. Aims to preserve software modularity, to be able to use existing single field codes to solve more complex problems, and to exploit computer resources optimally, emulating parallel processing. To this end, deals with two well‐known coupled problems of computational mechanics – the fluid‐structure interaction problem and thermally‐driven flows of incompressible fluids. Demonstrates the possibility of coupling the block‐iterative loop with the nonlinearity of the problems through numerical experiments which suggest that even a mild nonlinearity drives the convergence rate of the complete iterative scheme, at least for the two problems considered here. Discusses the implementation of this alternative to the direct coupled solution, stating advantages and disadvantages. Explains also the need for online synchronized communication between the different codes used as is the description of the master code which will control the overall algorithm.

Purpose – As corporations and capital markets become more global, it is increasingly important to understand the differences in corporate governance practices.

Approach – This chapter provides a framework for the implementation of corporate governance that can be used globally for study and adaptation. It also describes three corporate governance systems (Anglo-American, Communitarian, and Emerging Markets) and provides an analysis and comparison of how the framework for corporate governance is applied differently, and how success should be evaluated differently, in these three systems. Lastly, it considers the possibility of convergence toward a global system of corporate governance.

Practical implications – There is significant heterogeneity in corporate governance worldwide but there are universal aspects, such as roles, responsibilities, inputs, and processes, which result in effective corporate governance. Understanding the similarities and differences enables researchers and managers to work with multiple systems in different countries where corporations and stakeholders have varying objectives, structures, and internal and external determinants.

Value of chapter – This chapter presents a comparison of the three systems that is critical for further study of global practices. Additionally, the internal and external determinants that impact the varying corporate governance systems are analyzed to more carefully consider the performance measures that account for differences in objectives, motivations, and performance.

The purpose of this paper is to deal with the economic requirements of power system loading dispatch and reduce the fuel cost of generation units. In order to optimize the scheduling of power load, an improved chicken swarm optimization (ICSO) is proposed to be adopted, for solving economic load dispatch (ELD) problem.

The ICSO increased the self-foraging factor to the chicks whose activities were the highest. And the evolutionary operations of chicks capturing the rooster food were increased. Therefore, these helped the ICSO to jump out of the local extreme traps and obtain the global optimal solution. In this study, the generation capacity of the generation unit is regarded as a variable, and the fuel cost is regarded as the objective function. The particle swarm optimization (PSO), chicken swarm optimization (CSO), and ICSO were used to optimize the fuel cost of three different test systems.

The result showed that the convergence speed, global search ability, and total fuel cost of the ICSO were better than those of PSO and CSO under different test systems. The non-linearity of the input and output of the generating unit satisfied the equality constraints; the average ratio of the optimal solution obtained by PSO, CSO, and ICSO was 1:0.999994:0.999988. The result also presented the equality and inequality constraints; the average ratio of the optimal solution was 1:0.997200:0.996033. The third test system took the non-linearity of the input and output of the generating unit that satisfied both equality and inequality constraints; the average ratio was 1:0.995968:0.993564.

This study realizes the whole fuel cost minimization in which various types of intelligent algorithms have been applied to the field of load economic scheduling. With the continuous evolution of intelligent algorithms, they save a lot of fuel cost for the ELD problem.

The ICSO is applied to solve the ELD problem. The quality of the optimal solution and the convergence speed of ICSO are better than that of CSO and PSO. Compared with PSO and CSO, ICSO can dispatch the generator more reasonably, thus saving the fuel cost. This will help the power sector to achieve greater economic benefits. Hence, the ICSO has good performance and significant effectiveness in solving the ELD problem.