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Thaddeus Sim and Ronald H. Wright
Historical stock prices have long been used to evaluate a stock’s future returns as well as the risks associated with those returns. Similarly, historical dividends have been used…
Abstract
Historical stock prices have long been used to evaluate a stock’s future returns as well as the risks associated with those returns. Similarly, historical dividends have been used to evaluate the intrinsic value of a stock using, among other methods, a dividend discount model. In this chapter, we propose an alternate use of the dividend discount model to enable an investor to assess the risks associated with a particular stock based on its dividend history. In traditional applications of the dividend discount model for stock valuation, the value of a stock is the net present value of its future cash dividends. We propose an alternative approach in which we calculate the internal rate of return for a stream of future cash dividends assuming the current stock price. We use a bootstrapping approach to generate a stream of future cash dividends, and use a Monte Carlo simulation approach to run multiple trials of the model. The probability distribution of the internal rates of return obtained from the simulation model provides an investor with an expected percentage return and the standard deviation of the return for the stock. This allows an investor to not only compare the expected internal rates of return for a group of stocks but to also evaluate the associated risks. We illustrate this internal rate of return approach using stocks that make up the Dow Jones Industrial Average.
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Mohammed Messadi, Larbi Hadjout and Noureddine Takorabet
This paper aims to develop a new 3D analytical model in cylindrical coordinates to study radial flux eddy current couplers (RFECC) while considering the magnetic edge and 3D…
Abstract
Purpose
This paper aims to develop a new 3D analytical model in cylindrical coordinates to study radial flux eddy current couplers (RFECC) while considering the magnetic edge and 3D curvature effects, and the field reaction due to the induced currents.
Design/methodology/approach
The analytical model is developed by combining two formulations. A magnetic scalar potential formulation in the air and the magnets regions and a current density formulation in the conductive region. The magnetic field and eddy currents expressions are obtained by solving the 3D Maxwell equations in 3D cylindrical coordinates with the variable separation method. The torque expression is derived from the field solution using the Maxwell stress tensor. In addition to 3D magnetic edge effects, the proposed model takes into account the reaction field effect due to the induced currents in the conducting part. To show the accuracy of the developed 3D analytical model, its results are compared to those from the 3D finite element simulation.
Findings
The obtained results prove the accuracy of the new developed 3D analytical model. The comparison of the 3D analytical model with the 2D simulation proves the strong magnetic edge effects impact (in the axial direction) in these devices which must be considered in the modelling. The new analytical model allows the magnetic edge effects consideration without any correction factor and also presents a good compromise between precision and computation time.
Practical implications
The proposed 3D analytical model presents a considerably reduced computation time compared to 3D finite element simulation which makes it efficient as an accurate design and optimization tool for radial flux eddy current devices.
Originality/value
A new analytical model in 3D cylindrical coordinates has been developed to find the electromagnetic torque in radial flux eddy current couplers. This model considers the magnetic edge effects, the 3D curvature effects and the field reaction (without correction factors) while improving the computation time.
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Arshdeep Singh, Kashish Arora and Suresh Chandra Babu
Climate change-related weather events significantly affect rice production. In this paper, we investigate the impact of and interrelationships between agriculture inputs, climate…
Abstract
Purpose
Climate change-related weather events significantly affect rice production. In this paper, we investigate the impact of and interrelationships between agriculture inputs, climate change factors and financial variables on rice production in India from 1970–2021.
Design/methodology/approach
This study is based on the time series analysis; the unit root test has been employed to unveil the integration order. Further, the study used various econometric techniques, including vector autoregression estimates (VAR), cointegration test, autoregressive distributed lag (ARDL) model and diagnostic test for ARDL, fully modified least squares (FMOLS), canonical cointegrating regression (CCR), impulse response functions (IRF) and the variance decomposition method (VDM) to validate the long- and short-term impacts of climate change on rice production in India of the scrutinized variables.
Findings
The study's findings revealed that the rice area, precipitation and maximum temperature have a significant and positive impact on rice production in the short run. In the long run, rice area (ß = 1.162), pesticide consumption (ß = 0.089) and domestic credit to private sector (ß = 0.068) have a positive and significant impact on rice production. The results show that minimum temperature and direct institutional credit for agriculture have a significant but negative impact on rice production in the short run. Minimum temperature, pesticide consumption, domestic credit to the private sector and direct institutional credit for agriculture have a negative and significant impact on rice production in the long run.
Originality/value
The present study makes valuable and original contributions to the literature by examining the short- and long-term impacts of climate change on rice production in India over 1970–2021. To the best of the authors’ knowledge, The majority of the studies examined the impact of climate change on rice production with the consideration of only “mean temperature” as one of the climatic variables, while in the present study, the authors have considered both minimum as well as maximum temperature. Furthermore, the authors also considered the financial variables in the model.
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Yimei Chen, Yixin Wang, Baoquan Li and Tohru Kamiya
The purpose of this paper is to propose a new velocity prediction navigation algorithm to develop a conflict-free path for robots in dynamic crowded environments. The algorithm…
Abstract
Purpose
The purpose of this paper is to propose a new velocity prediction navigation algorithm to develop a conflict-free path for robots in dynamic crowded environments. The algorithm BP-prediction and reciprocal velocity obstacle (PRVO) combines the BP neural network for velocity PRVO to accomplish dynamic collision avoidance.
Design/methodology/approach
This presented method exhibits innovation by anticipating ahead velocities using BP neural networks to reconstruct the velocity obstacle region; determining the optimized velocity corresponding to the robot’s scalable radius range from the error generated by the non-holonomic robot tracking the desired trajectory; and considering acceleration constraints, determining the set of multi-step reachable velocities of non-holonomic robot in the space of velocity variations.
Findings
The method is validated using three commonly used metrics of collision rate, travel time and average distance in a comparison between simulation experiments including multiple differential drive robots and physical experiments using the Turtkebot3 robot. The experimental results show that our method outperforms other RVO extension methods on the three metrics.
Originality/value
In this paper, the authors propose navigation algorithms capable of adaptively selecting the optimal speed for a multi-robot system to avoid robot collisions during dynamic crowded interactions.
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Azzh Saad Alshehry, Humaira Yasmin, Rasool Shah, Amjid Ali and Imran Khan
The purpose of this study is to solve two unique but difficult partial differential equations: the foam drainage equation and the nonlinear time-fractional fisher’s equation…
Abstract
Purpose
The purpose of this study is to solve two unique but difficult partial differential equations: the foam drainage equation and the nonlinear time-fractional fisher’s equation. Through our methods, we aim to provide accurate solutions and gain a deeper understanding of the intricate behaviors exhibited by these systems.
Design/methodology/approach
In this study, we use a dual technique that combines the Aboodh residual power series method and the Aboodh transform iteration method, both of which are combined with the Caputo operator.
Findings
We develop exact and efficient solutions by merging these unique methodologies. Our results, presented through illustrative figures and data, demonstrate the efficacy and versatility of the Aboodh methods in tackling such complex mathematical models.
Originality/value
Owing to their fractional derivatives and nonlinear behavior, these equations are crucial in modeling complex processes and confront analytical complications in various scientific and engineering contexts.
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Weiting Wang, Yi Liao and Jiacan Li
The purpose of this study to improve the efficiency of customer acquisition and retention through the design of salary information disclosure mechanism.
Abstract
Purpose
The purpose of this study to improve the efficiency of customer acquisition and retention through the design of salary information disclosure mechanism.
Design/methodology/approach
This study develops a stylized game-theoretic model of delegating customer acquisition and retention, focusing on how firms choose delegation and wage information disclosure strategy.
Findings
The results confirm the necessity for enterprises to disclose salary information. When sales agents are risk neutral, firms should choose multi-agent (MA) delegation and disclose their wages. However, when agents are risk averse, firms may disclose the wages of acquisition agents or both agents in MA delegation, depending on the uncertainty of the retention market.
Originality/value
This paper contributes to the literature on delegation of customer acquisition and retention and demonstrates that salary disclosure can be used as a supplement to the incentive mechanism.
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Wei Chen, Zhuzhang Yang, Hang Yan and Ying Zhao
The construction industry is widely recognized as one of the most hazardous sectors in the world. Despite extensive research on safety management, a critical issue remains that…
Abstract
Purpose
The construction industry is widely recognized as one of the most hazardous sectors in the world. Despite extensive research on safety management, a critical issue remains that insufficient attention is devoted to safety practices in rural areas. Notably, accidents frequently occur during the construction of rural self-built houses (RSH) in China. Safety management tends to be overlooked due to the perceived simplicity of the construction process. Furthermore, it is essential to acknowledge that China currently lacks comprehensive laws and regulations governing safety management in RSH construction. This paper aims to analyze the behavior of key stakeholders (including households, workmen, rural village committee and the government) and propose recommendations to mitigate safety risks associated with RSH construction.
Design/methodology/approach
This paper applies evolutionary game theory to analyze the symbiotic evolution among households, workmen and rural village committee, in situations with or without government participation. Additionally, numerical simulation is utilized to examine the outcomes of various strategies implemented by the government.
Findings
Without government participation, households, workmen, and rural village committee tend to prioritize maximizing apparent benefits, often overlooking the potential safety risks. Numerical simulations reveal that while government involvement can guide these parties towards safer decisions, achieving the desired outcomes necessitates the adoption of reasonable and effective strategies. Thus, the government needs to offer targeted subsidies to these stakeholders.
Originality/value
Considering that during the construction phase, stakeholders are the main administrators accountable for safety management. However, there exists insufficient research examining the impact of stakeholder behavior on RSH construction safety. This study aims to analyze the behavior of stakeholders about how to reduce the safety risks in building RSH. Thus, the authors intend to contribute to knowledge in this area by establishing evolutionary game model. Firstly, this study carried out a theoretical by using tripartite evolutionary game to reveal the reasons for the high safety risk during building RSH. Practically, this research points out the important role of households, workmen and rural village committee in improving safety management in rural areas. Besides, some suggestions are proposed to the government about how to reduce construction safety risks in rural areas.
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