• Title/Summary/Keyword: Decision Sciences

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Simultaneous Equation Estimation in Finance and Corporate Financial Decision: Empirical Evidence from Pakistan Stock Exchange

  • AHMED, Wahab;KHAN, Hadi Hassan;RAUF, Abdul;ULHAQ, SM Nabeel;BANO, Safia;SARWAR, Bilal;HUDA, Shams ul;KHAN, Mirwaise;WALI, Ahmed;DURRANI, Maryam Najeeb
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.3
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    • pp.11-21
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    • 2021
  • In the last few years, there is growing interest in the field of simultaneous equation estimation in finance due to the endogeneity problem caused by measurement errors, simultaneity, or omitted variables. This study aims to discuss the endogeneity problem in corporate financing decisions and investigate the interrelationship of financial decision-making such as investment decision, dividend decision, and external financing decision in Pakistan Stock Exchange (PSX) using two-stage least squares (2SLS) and generalized method of moment (GMM) estimation. The Bruech-Pagan test shows that the data has no heteroskedasticity issue and 2SLS is a better approach in the context of this study as compared to the GMM approach, and internal instruments are also sufficiently strong and valid. The three financial decision-making attributes are not jointly determined, and the dividend is influenced by one-sided investment. In the emerging stock market context, external financing and investment are not inter-related and did not affect each other. The question of whether the simultaneous equation estimation can be useful in the context of the emerging stock markets and newly-growing firms remains unanswered. The inclusive evidence shows that the theoretical link in the emerging stock market is difficult to prove like in developed stock markets.

A Generic Multi-Level Algorithm for Prioritized Multi-Criteria Decision Making

  • G., AlShorbagy;Eslam, Hamouda;A.S., Abohamama
    • International Journal of Computer Science & Network Security
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    • v.23 no.1
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    • pp.25-32
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    • 2023
  • Decision-making refers to identifying the best alternative among a set of alternatives. When a set of criteria are involved, the decision-making is called multi-criteria decision-making (MCDM). In some cases, the involved criteria may be prioritized by the human decision-maker, which determines the importance degree for each criterion; hence, the decision-making becomes prioritized multi-criteria decision-making. The essence of prioritized MCDM is raking the different alternatives concerning the criteria and selecting best one(s) from the ranked list. This paper introduces a generic multi-level algorithm for ranking multiple alternatives in prioritized MCDM problems. The proposed algorithm is implemented by a decision support system for selecting the most critical short-road requests presented to the transportation ministry in the Kingdom of Saudi Arabia. The ranking results show that the proposed ranking algorithm achieves a good balance between the importance degrees determined by the human decision maker and the score value of the alternatives concerning the different criteria.

Decision Feedback Demodulation-based Adaptive Equalizers for DDPSK Systems (DDPSK 시스템을 위한 결정궤환복조에 근거한 적응등화기)

  • 장동운
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.27 no.6B
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    • pp.625-637
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    • 2002
  • This study extends the modified linear feedback equalizer (MLFE), normally used for differentially coherent DPSK systems, to the equalization of double differentially coherent PSK (DDPSK) signals. By feeding back into the feedback part after modifying the equalizer output using decision feedback-based demodulation, the proposed equalizer can operate like an equalizer with a decision feedback structure. Simulation results showthat performances of the decision feedback demodulation-based feedback equalizer (DFD-FE) approach those of the DFE/coherent.

The Development of Programmable Controller Using Binary-Decision Method (Binary-Decision 방식을 이용한 프로그래머블 콘트롤러의 개발에 관한 연구)

  • 전병실;이준환;엄경배
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.12 no.5
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    • pp.492-504
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    • 1987
  • The Binary Decision method can evaluate any switching function in the number of steps not exceeding the number of input variables. A Binary Decision Programmable Controller module is designed using this method so as to improve scan speed. A compiler system is also developed to relieve the memory problem which the Binary Decision method entails. A communication channel between MDS and BD-PC modules is also constructed to load the compiled BD-PC object program into the memory of BD machine.

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An Analysis of Career Exploration and Career Decision-making by Identity Statuses of Vocational High School Students (실업계 고등학생의 자아정체감 상태에 따른 진로탐색 및 진로결정 분석)

  • PARK, Sung-Mi
    • Journal of Fisheries and Marine Sciences Education
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    • v.16 no.1
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    • pp.11-20
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    • 2004
  • The purpose of this study was to analyze of career exploration and career decision-making by identity statuses(diffusion, foreclosure, moratorium, achievement) of vocational high school students. The research questions were formulated as follows. (1) Is there a difference in identity statuses by level of the career exploration? (2) Is there a difference in identity statuses by level of the career decision-making? (3) How much identity statuses-identity diffusion, identity foreclosure, identity moratorium, identity achievement-effect to the career exploration and career decision-making? 255 vocational high school students in Pusan were sampled. For the statistical analysis, Oneway, analysis of covariance structure by AMOS 4.0 was applied. The results of the study were as follows. (1) The identity diffusion was low in the level of career exploration, but the identity moratorium and achievement were high in the level of career exploration. (3) The identity diffusion was low in the level of career decision-making, but the identity achievement was high in the level of career decision-making. (4) The identity diffusion effected to negatively career exploration and career decision-making, identity foreclosure effected to low positively career exploration and career decision-making, identity moratorium effected to positively career exploration but negatively career decision-making, identity achievement effected to positively career exploration and career decision-making.

Compelex fuzzy adaptive decision feedback equalizer using RLS algorithm (RLS알고리듬을 이용한 복소 퍼지 판정궤환 적응 등화기)

  • 이상연;김재범;김기용;이충웅
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.21 no.6
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    • pp.1447-1452
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    • 1996
  • In this papre, a complex fuzzy adaptive decision feedback equalizer using the RLS algorithm is proposed. The proposed equalizer is based on the complex fuzzy adaptive equalizer. The 'IF'-part of the complex fuzzy adaptive decision feedback equalizer has membership functions which are characterized by the sate of decision feedback. The role of decision feedback is to reduce the computational complexity. Computer simulation shows that the proposed equalizer not only reduces the computational complexity but also improves the performance compared with the conventional complex fuzzy adaptive equalizers under the assumption of perfect knowledge of the linear and nonlinear channels. The effects of error propagation due to wrong decision feedback is also shown.

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Statistical analysis of decision threshold for DS-SS parallel acquisition with reference filter in a rician fading channel

  • 유영환;조형래;강창언
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.22 no.7
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    • pp.1411-1418
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    • 1997
  • This paper presents a statistical analysis of the decision throeshold for derect-sequence spread-spectrum (DS-SS) prallel Pseudo-Noise (PN) code acquistion with a reference filter. The probabilities of detection and false alarm are derived, and the mean acquistion time is evaluated as a measure of the system performance in both nonfading and Rician fiding channels. From the statistical sresults, it is shown that in the performance analysis of the parallel acquisition system with reference filtering, the statistical evaluaion of the decision threshold seems more appropriate than the approximation of the decision threshold adopted in the other schemes[2,3].

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Parallel Code Acquisition Techniques in Chip-Asynchronous DS/SS System (직접 수열 대역 확산 통신에서 비동기 위상 서명 수열의 병렬 부호 획득 기법)

  • 오미정;윤석호;송익호;배진수
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.27 no.7A
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    • pp.635-640
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    • 2002
  • We investigate optimal and suboptimal decision rules for parallel code acquisition in chip asynchronous direct-sequence spread-spectrum systems. The conventional decision rule for parallel acquisition is to choose the largest correlator output of a receiver. However, such a scheme is optimum only for chip synchronous models. In this paper, an optimal decision rule is derived based on the maximum-likehood criterion for chip asynchronous models. A simpler suboptimal decision rule is also discussed. The performance of the optimum and suboptimum decision rules is compared to that of the conventional decision rule. Numerical results show that, for chip asynchronous models, both the optimal and suboptimal decision rules outperform the conventional decision rule.

Effecting the e-Self Directed Learning on Career Myths through Future Time Perspective and Decision Making (e-자기주도학습이 미래시간전망과 의사결정을 매개로 진로신화에 미치는 영향)

  • SO, Won-Guen;KIM, Ha-Kyun
    • Journal of Fisheries and Marine Sciences Education
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    • v.27 no.4
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    • pp.901-911
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    • 2015
  • This article starts with a review of the e-self directed learning, future time perspective and decision making, especially in relation to the career myths. In particular, we empirically analyzed the factors affecting the future time perspective and the decision making on the characteristics of career myths(e.g. relatedness of the test myths, the supreme myth and the family myths). Hence the main purpose of this article is to suggest an empirical model explaining how these factors affect e-self directed learning to future time perspective and decision making. Furthermore, we suggested an expanded model about future time perspective, decision making and especially in relation to the career myths. We founded that the e-self directed learning significantly affect the future time perspective and the decision making, also the future time perspective affect the test myths and family myths except the supreme myths and the decision making significantly affect the career myths(i.e., the test myths, the supreme myth, the family myths).