Interdependence between Greece and other European stock markets: A comparison of wavelet and VMD copula, and the portfolio implications

The interdependence of Greece and other European stock markets and the subsequent portfolio implications are examined in wavelet and variational mode decomposition domain. In applying the decomposition techniques, we analyze the structural properties of data and distinguish between short and long term dynamics of stock market returns. First, the GARCH-type models are fitted to obtain the standardized residuals. Next, different copula functions are evaluated, and based on the conventional information criteria and time varying parameter, Joe-Clayton copula is chosen to model the tail dependence between the stock markets. The short-run lower tail dependence time paths show a sudden increase in comovement during the global financial crises. The results of the long-run dependence suggest that European stock markets have higher interdependence with Greece stock market. Individual country’s Value at Risk (VaR) separates the countries into two distinct groups. Finally, the two-asset portfolio VaR measures provide potential markets for Greece stock market investment diversification.

Comparison of the sensitivity of different sensor technologies to imbalance severity in low speed wind turbines

Imbalance is not only a direct major cause of downtime in wind turbines, but also accelerates the degradation of neighbouring and downstream components (e.g. main bearing, generator). Along with detection, the imbalance quantification is also essential as some residual imbalance always exist even in a healthy turbine. Three different commonly used sensor technologies (vibration, acoustic emission and electrical measurements) are investigated in this work to verify their sensitivity to different imbalance grades. This study is based on data obtained by experimental tests performed on a small scale wind turbine drive train test-rig for different shaft speeds and imbalance levels. According to the analysis results, electrical measurements seem to be the most suitable for tracking the development of imbalance.

Peace moves: Dance, identity and peacebuilding

Dance is a potential asset for peacebuilding, creating opportunities for nonverbal, embodied learning, exploring identity, and relationships. Peace scholars consider identity and relationships to the ‘other’ as key components in transforming conflict. Focusing on a case study in Mindanao, the Philippines, this paper explores the potential of dance in a peacebuilding context through embodied identity and relationships. In Mindanao, deep-seated cultural prejudices contribute to ongoing conflict entwined with identity. The permeable membrane (Cohen, Gutiérrez & Walker, 2011) is the organising framework describing the constant interaction between artists, facilitators, participants, and communities. It expands peace scholar John Paul Lederach’s concept of the moral imagination, requiring the capacity to envisage one’s self within a web of relationships. In this paper multiple methods of qualitative research including personal interviews are used to further the discussion regarding dance’s potential to diversify the nonverbal tools available for peacebuilding.

Cultural considerations in will-making in Australia: A case study of Islamic or Sharia-compliant wills

This article explores the influence of cultural and religious beliefs and laws on how individuals make decisions about asset distribution through wills, drawing on a case study of Islamic will makers. Findings highlight diversity in beliefs and practices within Australian Islamic communities. When drafting a will people from culturally diverse backgrounds need to accommodate their religious and cultural values and local law. Implications of research findings for legal policy and practice in Australia are discussed.