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Convertible Bond Pricing in Chinese Transportation Industry : A Comparison Methods Between Binomial Tree model and Black-Scholes Model: DOI: https://doi.org/10.33093/ijomfa.2024.5.2.13
No full textOne bond type that can lower financing costs for the issuer is a convertible bond. Additionally, its characteristic with option value gives investors access to high-yielding, low-drawdown, and superior investment instruments. Exactly, convertible bonds have a strong market appeal to investors. In recent years, the issuance scale of convertible bonds has continued to expand, and its share in the bond market has gradually increased. Fair pricing is essential to maintaining the convertible bond market’s smooth operation. In light of this, the convertible bonds in the transportation sector listed on the Shanghai Stock Exchange are chosen for this article. Following the acquisition of the fundamental data pertaining to convertible bonds, the bonds are fitted into the bond list using the Black-Scholes and Binomial Tree models. The theoretical value is then priced empirically after other pertinent factors have been duly taken into account. Comparing the estimation with their actual values to obtain the efficiency results, which indicates that Black-Scholes model yields a more accurate estimation than any Binomial Tree model with preset step sizes. The holistic undervaluation means the favorable sentiments of investors towards it. In summary, the contribution of pricing projects to the operation of underlying industries and the economy boost inspired
The efficacy of Relative Strength Index (RSI) in KLSE market trade
No full textThe Relative Strength Index (RSI) is a widely used technical indicator in stock trading because of its simple application. However, its application combined with fundamental analysis in Kuala Lumpur Stock Exchange (KLSE) is yet to be explored extensively. Hence, this study aimed to investigate the effectiveness of RSI as a predictive tool in the KLSE market. First, 39 stocks that met the set of criteria guided by fundamental soundness were identified. Trading signals are then initiated based on the RSI indicators, which are superimposed on the charts of the identified stocks. The return on investment (ROI) was then estimated and benchmarked against KLCI performance over a period of five years starting from 21st July 21, 2018. It was found that the average ROI was 3.46% against KLCI’s -24.37% over the same period of 5 years, measured between 21st July 21, 2018, 21st July 21, 2023. The average ROI improves as the number of trade iterations increases to five. The peak average ROI is approximately 22%. Technology is the top performer, recording an ROI of more than 40%. In conclusion, the combination of RSI and fundamental analysis yielded a mixed set of results. Although it outperforms KLCI, the annualised ROI is only slightly above 4%. Nevertheless, the results of this study provide valuable insights into the application of the RSI as a trading signal generator in the KLSE market
The impact of inflation on economic growth
No full textThis study investigated the correlation between inflation and economic growth in ASEAN-5 countries from 1990 to 2020. The main objective of this study is to explore the causal connection between inflation and economic growth. The results demonstrate variations in the relationship between economic growth and inflation in these countries. Of the five ASEAN countries, we found that inflation hurts economic growth in the Philippines and Indonesia, but not Singapore. This research revealed a stationary economic growth series in all countries except for the Philippines. The inflation rates were found to be stationary for all ASEAN-5 countries. Furthermore, Granger causality tests suggested either a feedback or one-way causal relationship between economic growth and inflation in all countries except Malaysia. Our panel estimation also provides interesting findings that complement time-series analysis. Our findings shed light on the complexities of the inflation-economic growth relationship within ASEAN-5 countries and contribute to a better understanding of their economic dynamics in the age of digitalisation
Simulations for the Susceptible-Exposed-Infected-Recovered (SEIR) Model in the Forecast of Epidemic Outbreak
No full textMathematical modelling based on the compartmental Susceptible – Exposed – Infected - Recovered (SEIR) model is proposed in this paper to study the pandemic outbreak. In addition, simulations from both the deterministic approach as well as the stochastic approach are implemented to validate the present study. Among each state, the transitions between different categories are simulated by using various graph models including the complete graph, the steady Erdos-Renyi graph, as well as the varying Erdos-Renyi graph. The related parameters for the SEIR model are chosen from available literature and the effect of some other factors such as the inflow or outflow of travellers in a city as well as the impact of vaccination rate is explored. Furthermore, the difference between the simulation results coming from the deterministic SEIR model and the stochastic SEIR one is examined to check the availability of the present simulation. It is found that, the stochastic simulation based on the complete graph is more consistent with the deterministic SEIR model.
Manuscript Received: 15 August 2023, Accepted: 30 November 2023, Published: 15 March 2024, ORCiD: 0000-0002-8763-830
Design and Development of A Hemisphere Flat Base Solar Thermal Water Distillation System
No full textThe clean water crisis around the world is mainly caused by the pollution and depletion of freshwater. There is only less than 1% of the water on Earth is in a pure and consumable state. Many people around the world actually die every single day due to the lack of access to clean, potable water and to proper sanitation which resulted in many waterborne diseases. Hence, water purification plays an extremely important role as access to clean water is fundamental to basic human rights. The objective of this paper is to develop a solar-thermal water distillation system with solar energy as its main power source to distilled water for safe consumption, hence achieving clean water purification through clean energy. The proposed hemisphere flat-based solar thermal distiller works well with the absorption of sun radiation from almost every angle with its spherical surface. The prototype works best under full sunlight conditions and is capable to purify water from various water sources to safe and ideal pH value for consumption. Solar radiation, being a clean energy and available in abundance at no cost, makes this design feasible for many and easy to scale up whenever the need arises. The simple working principle and fabrication at low cost also makes it an ideal solution in helping communities that have difficulty or no access to clean water supply.
Manuscript Received: 10 August 2023, Accepted: 26 September 2023, Published: 15 March 2024, ORCiD: 0000-0002-0823-146
The Review of Recent Trend for School Bus Routing Problem
No full textThe School Bus Routing Problem (SBRP) is a complex transportation challenge involving finding optimal bus routes. This review paper provides an overview of the recent developments in SBRP research and focuses on three sub-problems: Bus Route Generation, Bus Route Scheduling, and Bus Stop Selection. The paper examines recent publications from 57 relevant articles. It highlights the increasing focus on real-world and complex scenarios, as well as the growing popularity of metaheuristic approaches in addressing SBRP challenges. The analysis reveals the significance of bus route generation, bus route scheduling, and bus stop selection, showcasing the effectiveness of machine learning and heuristic or metaheuristic algorithms in improving route quality. This study also classifies SBRP problems based on the number of schools, service surroundings (urban or rural), mixed-load scenarios, and fleet mix (homogeneous or heterogeneous). Finally, the paper explores the objectives of SBRP research, including minimising the total cost, distance, time, and number of buses. Meanwhile, the constraints of this study are the capacity of a bus, the maximum riding time, time windows, the maximum walking time between two stops and so on. This comprehensive review paper aims to offer a framework for new researchers and provides valuable insights for future research directions in this transportation area.
Manuscript Received: 14 August 2023, Accepted: 18 November 2023, Published: 15 March 2024, ORCiD: 0009-0002-3739-620
Predicting Diabetes Mellitus with Machine Learning Techniques
No full textThis study addresses the challenge of accurately identifying diabetes mellitus in individuals. Utilizing accessible online and real-world diagnostic data, we employ machine learning models, including Support Vector Machine, Random Forest, Naïve Bayes, eXtreme Gradient Boosting, and Deep Neural Network, on the PIMA Indian Diabetes and NHANES 1999-2016 datasets. Rigorous data pre-processing steps were conducted, handling null values, outliers, and imbalanced data together with data normalization. Our results reveal that the RF model achieves a 79% accuracy for binary classification on the PIMA Indian Diabetes dataset, using a 60:40 train-test split with BORUTA selected features. Meanwhile, the XGBoost model excels on the NHANES 1999-2016 dataset, achieving 92% accuracy for binary and 91% for multiclass classification respectively.
Manuscript Received: 6 October 2023, Accepted: 20 December 2023, Published: 15 March 2024, ORCiD: 0000-0002-3128-585
Evaluation of The Effect of Spoofing on Dual-Frequency Global Navigation Satellite System (GNSS)
No full textThis paper aims to assess the impact of Global Navigation Satellite System (GNSS) spoofing on the performance of a Garmin GPSMAP 66sr dual-frequency GNSS receiver. The evaluation is conducted through field assessments under three conditions: 1) single-frequency GPS L1 coarse acquisition (C/A) only, 2) single-frequency GPS L1 C/A and Galileo E1 open service (OS), and 3) dual-frequency GPS L1 C/A and L5, as well as Galileo E1 OS and E5a. The results emphasise the critical role of multifrequency GNSS in mitigating spoofing. In the dual-frequency multi-GNSS mode, spoofing does not occur as the GPS L5 and Galileo E5a signals remain unaffected by spoofing signals in the L1 / E1 band. In the single-frequency multi-GNSS mode, the higher number of observed GNSS satellites contributes to higher minimum spoofing power levels and longer durations between position fix loss and spoofing as compared to the GPS only mode.
Manuscript Received: 19 November 2023, Accepted: 12 December 2023, Published: 15 March 2024, ORCiD: 0000-0001-5549-042
Legal and Social Issues of Stateless Children in Malaysia
No full textMalaysia does not have official records on the number of stateless people in the country. This lack of proactivity makes it challenging to identify the number of stateless people from the country’s population of ‘non-citizens’. For many stateless children, they are the products of this endless cycle of statelessness that transmits from one generation to the next especially when attempts to obtain a Malaysian citizenship from the National Registration Department fall futile. Though statelessness remains their only identity, it has also robbed them of State protection over the most fundamental human rights. This paper seeks to address the legal and social issues faced by stateless children in Malaysia. It begins by exploring the legal definition of a stateless child and the international minimum standard of protection that they are entitled to. The second part of the paper will then analyse the current Malaysian legal framework on statelessness, and how it fails to provide adequate protection for stateless children. This is followed by proposing potential solutions to the issue, such as amending the relevant laws and introducing awareness campaigns. Finally, the paper will conclude by outlining the importance of addressing statelessness in Malaysia and how this will benefit the stateless population
Topic Selection and Satisfaction in Communication between Taiwanese Senior High School Students and their Grandparents
No full textAs Taiwan's population ages, intergenerational communication has become more prevalent in daily life. To gain insights into this form of communication, the researchers conducted a survey to explore topic selections and satisfaction levels in conversations between senior high school students and their grandparents in Taiwan. There is a lack of existing literature derived from Chinese-speaking communities regarding this research topic. The questionnaire comprised two parts: one focusing on actual and anticipated communication topics, and the other assessing participant satisfaction levels with the discussed topics during intergenerational talks. The differences between the answers given by grandparents and grandchildren were compared using SPSS. Significant differences might compromise the possibility of creating satisfying grandparent-grandchild relationships. Convenient sampling method was adopted, yielding 76 sets of samples providing corresponding views on intergenerational communication regarding topic selection and satisfaction levels. Findings revealed that senior high school students preferred discussing family, leisure, and health topics with their grandparents. Conversely, grandparents were inclined to discuss health, occupation, and family matters with their grandchildren. Notably, family emerged as the most popular topic, and this topic generated the highest satisfaction levels in both generations. However, the most significant disparity in topic selection between grandchildren and grandparents was observed in the area of occupation. Grandparents showed a preference for discussing occupation with their grandchildren, while the grandchildren tended to ignore this topic. The differences in age and generational perspectives could contribute to this gap and potentially lead to dissatisfaction in intergenerational conversations. The results of this study hold the potential for enhancing and promoting the quality of intergenerational communication within family contexts. By understanding the preferred topics and recognising potential sources of dissatisfaction, efforts can be made to bridge the intergenerational gaps and foster better communication between grandparents and grandchildren. Such improvements can strengthen family bonds and promote a positive and harmonious intergenerational dynamic