396 resultados para Efficient market theory


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Estimating and predicting degradation processes of engineering assets is crucial for reducing the cost and insuring the productivity of enterprises. Assisted by modern condition monitoring (CM) technologies, most asset degradation processes can be revealed by various degradation indicators extracted from CM data. Maintenance strategies developed using these degradation indicators (i.e. condition-based maintenance) are more cost-effective, because unnecessary maintenance activities are avoided when an asset is still in a decent health state. A practical difficulty in condition-based maintenance (CBM) is that degradation indicators extracted from CM data can only partially reveal asset health states in most situations. Underestimating this uncertainty in relationships between degradation indicators and health states can cause excessive false alarms or failures without pre-alarms. The state space model provides an efficient approach to describe a degradation process using these indicators that can only partially reveal health states. However, existing state space models that describe asset degradation processes largely depend on assumptions such as, discrete time, discrete state, linearity, and Gaussianity. The discrete time assumption requires that failures and inspections only happen at fixed intervals. The discrete state assumption entails discretising continuous degradation indicators, which requires expert knowledge and often introduces additional errors. The linear and Gaussian assumptions are not consistent with nonlinear and irreversible degradation processes in most engineering assets. This research proposes a Gamma-based state space model that does not have discrete time, discrete state, linear and Gaussian assumptions to model partially observable degradation processes. Monte Carlo-based algorithms are developed to estimate model parameters and asset remaining useful lives. In addition, this research also develops a continuous state partially observable semi-Markov decision process (POSMDP) to model a degradation process that follows the Gamma-based state space model and is under various maintenance strategies. Optimal maintenance strategies are obtained by solving the POSMDP. Simulation studies through the MATLAB are performed; case studies using the data from an accelerated life test of a gearbox and a liquefied natural gas industry are also conducted. The results show that the proposed Monte Carlo-based EM algorithm can estimate model parameters accurately. The results also show that the proposed Gamma-based state space model have better fitness result than linear and Gaussian state space models when used to process monotonically increasing degradation data in the accelerated life test of a gear box. Furthermore, both simulation studies and case studies show that the prediction algorithm based on the Gamma-based state space model can identify the mean value and confidence interval of asset remaining useful lives accurately. In addition, the simulation study shows that the proposed maintenance strategy optimisation method based on the POSMDP is more flexible than that assumes a predetermined strategy structure and uses the renewal theory. Moreover, the simulation study also shows that the proposed maintenance optimisation method can obtain more cost-effective strategies than a recently published maintenance strategy optimisation method by optimising the next maintenance activity and the waiting time till the next maintenance activity simultaneously.

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In this contribution, a stability analysis for a dynamic voltage restorer (DVR) connected to a weak ac system containing a dynamic load is presented using continuation techniques and bifurcation theory. The system dynamics are explored through the continuation of periodic solutions of the associated dynamic equations. The switching process in the DVR converter is taken into account to trace the stability regions through a suitable mathematical representation of the DVR converter. The stability regions in the Thevenin equivalent plane are computed. In addition, the stability regions in the control gains space, as well as the contour lines for different Floquet multipliers, are computed. Besides, the DVR converter model employed in this contribution avoids the necessity of developing very complicated iterative map approaches as in the conventional bifurcation analysis of converters. The continuation method and the DVR model can take into account dynamics and nonlinear loads and any network topology since the analysis is carried out directly from the state space equations. The bifurcation approach is shown to be both computationally efficient and robust, since it eliminates the need for numerically critical and long-lasting transient simulations.

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This research provides a systematic and theoretical analysis of the digital challenges to the established exclusive regime of the economic rights enjoyed by authors (and related rightholders) under the law of copyright. Accordingly, this research has developed a relational theory of authorship and a relational approach to copyright, contending that the regulatory emphasis of copyright law should focus on the facilitation of the dynamic relations between the culture, the creators, the future creators, the users and the public, rather than the allocation of resources in a static world. In this networked digital world, the creative works and contents have become increasingly vital for people to engage in creativity and cultural innovation, and for the evolution of the economy. Hence, it is argued that today copyright owners, as content holders, have certain obligations to make their works accessible and available to the public under fair conditions. This research sets forward a number of recommendations for the reform of the current copyright system.

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Speeding in school zones is a problem in both Malaysia and Australia. While there are differences between the countries in terms of school zone treatments and more generally, these differences do not explain why people choose to speed in school zones. Because speeding is usually an intentional behaviour, the Theory of Planned Behaviour (TPB) has been used to understand speeding and develop interventions, however it has limitations which can be addressed by extending the model to incorporate other constructs. One promising construct is mindfulness, which can improve the explanatory value of the TPB by taking into account unintentional speeding attributable to a lack of focus on important elements of the driving environment. We explain what mindfulness is (and is not), how it can assist in providing a better understanding of speeding in school zones, and how it can contribute to the development of interventions. We then outline a program of research which has been commenced, investigating the contribution of mindfulness to an understanding of speed choice in school zones in two different settings (Australia and Malaysia) using the TPB.

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The aim of this thesis has been to map the ethical journey of experienced nurses now practising in rural and remote hospitals in central and south-west Queensland and in domiciliary services in Brisbane. One group of the experienced nurses in the study were Directors of Nursing in rural and remote hospitals. These nurses were “hands on”, “multi-skilled “ nurses who also had the task of managing the hospital. Also there were two Directors of Nursing from domiciliary services in Brisbane. A grounded theory method was used. The nurses were interviewed and the data retrieved from the interviews was coded, categorised and from these categories a conceptual framework was generated. The literature which dealt with the subject of ethical decision making and nurses also became part of the data. The study revealed that all these nurses experienced moral distress as they made ethical decisions. The decision making categories revealed in the data were: the area of financial management; issues as end of life approaches; allowing to die with dignity; emergency decisions; experience of unexpected death; the dilemma of providing care in very difficult circumstances. These categories were divided into two chapters: the category related to administrative and financial constraints and categories dealing with ethical issues in clinical settings. A further chapter discussed the overarching category of coping with moral distress. These experienced nurses suffered moral distress as they made ethical decisions, confirming many instances of moral distress in ethical decision making documented in the literature to date. Significantly, the nurses in their interviews never mentioned the ethical principles used in bioethics as an influence in their decision making. Only one referred to lectures on ethics as being an influence in her thinking. As they described their ethical problems and how they worked through them, they drew on their own previous experience rather than any knowledge of ethics gained from nursing education. They were concerned for their patients, they spoke from a caring responsibility towards their patients, but they were also concerned for justice for their patients. This study demonstrates that these nurses operated from the ethic of care, tempered with the ethic of responsibility as well as a concern for justice for their patients. Reflection on professional experience, rather than formal ethics education and training, was the primary influence on their ethical decision making.

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Purpose: The purpose of this paper is to explain variations in discretionary information shared between buyers and key suppliers. The paper also aims to examine how the extent of information shared affects buyers’ performance in terms of resource usage, output, and flexibility. ----- ----- Design/methodology/approach: The data for the paper comprise 221 Finnish and Swedish non-service companies obtained through a mail survey. The hypothesized relationships were tested using partial least squares modelling with reflective and formative constructs.----- ----- Findings: The results of the study suggest that (environmental and demand) uncertainty and interdependency can to some degree explain the extent of information shared between a buyer and key supplier. Furthermore, information sharing improves buyers’ performance with respect to resource usage, output, and flexibility.----- ----- Research limitations/implications: A limitation to the paper relates to the data, which only included buyers.Abetter approach would have been to collect data from both, buyers and key suppliers. Practical implications – Companies face a wide range of supply chain solutions that enable and encourage collaboration across organizations. This paper suggests a more selective and balanced approach toward adopting the solutions offered as the benefits are contingent on a number of factors such as uncertainty. Also, the risks of information sharing are far too high for a one size fits all approach.----- ----- Originality/value: The paper illustrates the applicability of transaction cost theory to the contemporary era of e-commerce. With this finding, transaction cost economics can provide a valuable lens with which to view and interpret interorganizational information sharing, a topic that has received much attention in the recent years.

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The economic environment of today can be characterized as highly dynamic and competitive if not being in a constant flux. Globalization and the Information Technology (IT) revolution are perhaps the main contributing factors to this observation. While companies have to some extent adapted to the current business environment, new pressures such as the recent increase in environmental awareness and its likely effects on regulations are underway. Hence, in the light of market and competitive pressures, companies must constantly evaluate and if necessary update their strategies to sustain and increase the value they create for shareholders (Hunt and Morgan, 1995; Christopher and Towill, 2002). One way to create greater value is to become more efficient in producing and delivering goods and services to customers, which can lead to a strategy known as cost leadership (Porter, 1980). Even though Porter (1996) notes that in the long run cost leadership may not be a sufficient strategy for competitive advantage, operational efficiency is certainly necessary and should therefore be on the agenda of every company. ----- ----- ----- Better workflow management, technology, and resource utilization can lead to greater internal operational efficiency, which explains why, for example, many companies have recently adopted Enterprise Resource Planning (ERP) Systems: integrated softwares that streamline business processes. However, as today more and more companies are approaching internal operational excellence, the focus for finding inefficiencies and cost saving opportunities is moving beyond the boundaries of the firm. Today many firms in the supply chain are engaging in collaborative relationships with customers, suppliers, and third parties (services) in an attempt to cut down on costs related to for example, inventory, production, as well as to facilitate synergies. Thus, recent years have witnessed fluidity and blurring regarding organizational boundaries (Coad and Cullen, 2006). ----- ----- ----- The Information Technology (IT) revolution of the late 1990’s has played an important role in bringing organizations closer together. In their efforts to become more efficient, companies first integrated their information systems to speed up transactions such as ordering and billing. Later collaboration on a multidimensional scale including logistics, production, and Research & Development became evident as companies expected substantial benefits from collaboration. However, one could also argue that the recent popularity of the concepts falling under Supply Chain Management (SCM) such as Vendor Managed Inventory, Collaborative Planning, Replenishment, and Forecasting owe to the marketing efforts of software vendors and consultants who provide these solutions. Nevertheless, reports from professional organizations as well as academia indicate that the trend towards interorganizational collaboration is gaining wider ground. For example, the ARC Advisory Group, a research organization on supply chain solutions, estimated that the market for SCM, which includes various kinds of collaboration tools and related services, is going to grow at an annual rate of 7.4% during the years 2004-2008, reaching to $7.4 billion in 2008 (Engineeringtalk 2004).

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This paper seeks to assimilate Queer Theory: that is, to bring it within the gambit of a ‘mainstream’ or ‘dominant’ space: the academy. It does so by historicising Queer Theory, and investigating, if not what it is, then at least what it has been. This makes it possible to engage critically with Queer Theory. Suggesting that Queer Theory has often employed tropes of assimilation, the paper turns to another cultural site at which such language is popular - science fiction - in order to investigate the assumption of these metaphors. It goes on to suggest some of the assumptions about cultures which underlie these metaphors. Finally, it points to other sites in Queer Theory which undermines these assumptions, and provide other ways - quite uninterested in assimilation - in which to think Queer.

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Bringing together the voices of leading and emerging scholars, this book provides critical approaches for reading children's literature and film. It argues for the significance of theory for reading texts written and produced for young people and integrates a wide range of critical perspectives, including schema theory, theories of space and place, cultural globalization, feminism, ecocriticism, adaptation theory, postcolonialism, and posthumanism.

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In a report in the New York Times about a public symposium on the future of theory held at University of Chicago in 2002, staff writer Emily Eakin suggests that theory appears to have taken a back seat to more pressing current affairs – the Bush Administration, Al Qaeda, Iraq. Further, she reports that the symposium’s panel of high-profile theorists and scholars, including Homi Bhabha, Stanley Fish, Fredric Jameson, seemed reticent to offer their views on what is often touted as the demise or irrelevance of theory. The symposium and other commentaries on the topic of theory have prompted the view that the ‘Golden Age of Theory’ has passed and we are now in a ‘Post-Theory Age’. Given these pronouncements, we need to ask – Does theory matter any longer? Is it time for the obituary? Or are reports of the death of theory greatly exaggerated? The question remains whether to mourn or celebrate the demise of theory, and whether the body has in fact breathed its last. The title of this Introduction – ‘Bringing back theory’ – suggests a resurrection, or perhaps a haunting, as if the funeral has passed and, like Banquo’s ghost, theory returns to unsettle or disturb the celebration. It also suggests an entreaty, or perhaps a return performance. Rather than settle on one meaning, one interpretation, we are happy for all possibilities to coexist. The coexistence of different theories, different approaches, different interpretations also reflects the state of literary and cultural studies generally and children’s literature criticism in particular. No single theory or viewpoint predominates or vies for hegemony. Yet, one further question lingers – what is theory?

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This paper critiques our experiences as non-Indigenous Australian educators of working with numerous embedding Indigenous perspectives curricular projects at an Australian university. Reporting on these project outcomes alone, while useful in identifying limitations, does not illustrate ways in which future embedding and decolonising projects can persist and evolve. Deeper analysis is required of the ways in which Indigenous knowledge and perspectives are perceived, and what ‘embedding’ IK in university curricula truly means to various educational stakeholders. To achieve a deeper analysis and propose ways to invigorate the continuing decolonisation of Australian university curricula, this paper critically interrogates the methodology and conceptualisation of Indigenous knowledge in embedding Indigenous perspectives (EIP) in the university curriculum using tenets of critical race theory. Accordingly, we conduct this analysis from the standpoint that EIP should not subscribe to the luxury of independence of scholarship from politics and activism. The learning objective is to create a space to legitimise politics in the intellectual / academic realm (Dei, 2008, p. 10). We conclude by arguing that critical race theory’s emancipatory, future and action-oriented goals for curricula (Dei, 2008) would enhance effective and sustainable embedding initiatives, and ultimately, preventing such initiatives from returning to the status quo (McLaughlin & Whatman, 2008).

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Sustainability has been a major factor and determinant of commercial property design, construction, retro-fitting and landlord and tenant requirements over the last decade, supported by the introduction of rating tools such as NABERS and GreenStar and the recently mandated Building Energy Efficiency Certificate (BEEC). However, the movement to sustainable and energy efficient housing has not been established for the same period, and although mandatory building regulations have been in place for new residential housing construction since 2004, the requirement to improve the sustainability and energy efficiency of housing constructed prior to 2004 has not been mandatory. Residential dwelling energy efficiency and rating schemes introduced in Australia over the past decade have included rating schemes such as BASIX, NatHERS, First rate, ACTHERS, and Building Code of Australia and these have applied to new dwelling construction. At both National and State level the use of energy efficiency schemes for existing residential dwellings has been voluntary and despite significant cash incentives have not always been successful or achieved widespread take-up. In 2010, the Queensland Government regulated that all homes offered for sale, whether a new or existing dwellings require the seller to provide a ―sustainability declaration‖ that provides details of the sustainability measures associated with the dwelling being sold. The purpose of this declaration being to inform buyers and increase community awareness of home sustainability features. This paper uses an extensive review of real estate marketing material, together with a comprehensive survey of real estate agents to analyse the current market compliance, awareness and acceptance of existing green housing regulations and the importance that residential property owners and purchasers place on energy efficient and sustainable housing. The findings indicate that there is still little community awareness or concern of sustainable housing features when making home purchase decisions.

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The recognition of Indigenous knowledge in western academic institutions challenges colonial discourses which have informed and shaped knowledge about Indigenous peoples, cultures and histories. Deeper analysis is required of the ways in which Indigenous knowledge and perspectives are perceived, and the processes through which university curricula can accommodate Indigenous knowledge in teaching and learning. To achieve this deeper analysis, and to invigorate the continuing decolonisation of Australian university curricula, this paper critically interrogates the methodology and conceptualisation of Indigenous knowledge in embedding Indigenous perspectives (EIP) projects in the university curriculum by drawing from tenets of critical race theory and the cultural interface (Nakata, 2007). Accordingly, we conduct this analysis from the standpoint that Indigenous knowledge in university curricula should not subscribe to the luxury of independence of scholarship from politics and activism. The learning objective is to create a space to legitimise politics in the intellectual / academic realm (Dei, 2008, p. 10). We conclude by arguing that critical race theory’s emancipatory, future and action-oriented goals for curricula (Dei, 2008) would enhance effective and sustainable embedding initiatives, and ultimately, preventing such initiatives from returning to the status quo (McLaughlin & Whatman, 2008).