An Empirical Analysis of Scale and Scope Economies and Technical Change in an Irish Multiproduct Banking Firm

In contrast to most empirical investigations of the efficiency of multiproduct financial institutions, which either estimate scale and scope economies with a given state of technology, or only analyse technical change in the presence of overall scale economies, this study estimates overall scale economies, product-specific scale economies and scope economies in the presence of both neutral and non-neutral technical change. Also, in contrast to most other empirical studies in this area, standard errors are computed for all relevant statistics. The findings indicate diseconomies of scope; overall diseconomies of scale; product-specific economies are decreasing for investments and increasing for loans; in addition to substantial neutral technical change, biased technical change is labour- and capital-saving and deposits-using in character.

Smiling Virtual Characters Corpora

To create smiling virtual characters, the different morphological and dynamic characteristics of the virtual characters smiles and the impact of the virtual characters smiling behavior on the users need to be identified. For this purpose, we have collected two corpora: one directly created by users and the other resulting from the interaction between virtual characters and users. We present in details these two corpora in the article.

Information disclosure and depositor discipline in the Chinese banking sector

We investigate the relationship between information disclosure and depositor behaviour in the Chinese banking sector. Specifically, we enquire whether enhanced information disclosure enables investors to more effectively infer a banking institution's risk profile, thereby influencing their deposit decisions. Utilising an unbalanced panel, incorporating financial data from 169 Chinese banks over the 1998–2009 period, we employ generalised-method-of-moments (GMM) estimation procedures to control for potential endogeneity, unobserved heterogeneity, and persistence in the dependent variable. We uncover evidence that: (i) the growth rate of deposits is sensitive to bank fundamentals after controlling for macroeconomic factors, diversity in ownership structure, and government intervention; (ii) a bank publicly disclosing more transparent information in its financial reports, is more likely to experience growth in its deposit base; and (iii) banks characterised by high information transparency, well-capitalised and adopted international accounting standards, are more able to attract funds by offering higher interest rates.

Virtual Manufacturing of Composite Structures Applying Implicit and Explicit FE Techniques

Virtual manufacturing of composites can yield an initial early estimation of the induced residual thermal stresses that affect component fatigue life, and deformations that affect required tolerances for assembly. Based on these estimation, the designer can make early decisions, which can help in reducing cost, regarding changes in part design or material properties. In this paper, an approach is proposed to simulate the autoclave manufacturing technique for unidirectional composites. The proposed approach consists of three modules. The first module is a Thermochemical model to estimate temperature and the degree of cure distributions in the composite part during the cure cycle. The second and third modules are stress analysis using FE-Implicit and FE-Explicit respectively. User-material subroutine will be used to model the Viscoelastic properties of the material based on micromechanical theory. Estimated deformation of the composite part can be corrected during the autoclave process by modifying the process-tool design. The deformed composite surface is sent to CATIA for design modification of the process-tool.

The Sound of Becoming: Moving Towards a Virtual Music

In 1985 Jacques Attali proposed a new modality for music. He suggests that there be “not a new music, but a new way of making music... a radically new form of the insertion of music into communication” (Attali 134). What Attali foretold has become a firm reality in contemporary musical practice. One has only to look at any current musical activity to encounter work that relies heavily on real-time interaction and dynamic generation and/or modification of materials. But why is this ontologically different ‘mode of essentially interactive and transformative existence’ (Ziarek 195), this ‘new way of making music’, so attractive to contemporary artists? What is motivating artists to abandon a production model in favor of a model of real-time interactive exploration? I will argue that at the foundation of this new artistic ontology lies Deleuze’s concept of the virtual. It is a recognition of the virtual power of music, that music making can be an act of invention, a process where one can discover something never before experienced.

Virtual Engineering Centre - Examples of Virtual Prototyping and Multidisciplinary Design Optimization

The requirement for the use of Virtual Engineering, encompassing the construction of Virtual Prototypes using Multidisciplinary Design Optimisation, for the development of future aerospace platforms and systems is discussed. Some of the activities at the Virtual Engineering Centre, a University of Liverpool initiative, are described and a number of case studies involving a range of applications of Virtual Engineering illustrated.

Evaluation of Four Designed Virtual Agent Personalities

Convincing conversational agents require a coherent set of behavioral responses that can be interpreted by a human observer as indicative of a personality. This paper discusses the continued development and subsequent evaluation of virtual agents based on sound psychological principles. We use Eysenck's theoretical basis to explain aspects of the characterization of our agents, and we describe an architecture where personality affects the agent's global behavior quality as well as their back-channel productions. Drawing on psychological research, we evaluate perception of our agents' personalities and credibility by human viewers (N = 187). Our results suggest that we succeeded in validating theoretically grounded indicators of personality in our virtual agents, and that it is feasible to place our characters on Eysenck's scales. A key finding is that the presence of behavioral characteristics reinforces the prescribed personality profiles that are already emerging from the still images. Our long-term goal is to enhance agents' ability to sustain realistic interaction with human users, and we discuss how this preliminary work may be further developed to include more systematic variation of Eysenck's personality scales. © 2012 IEEE.


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