{"title":"Optimal liquidation with jump-diffusion process","authors":"Qixuan Luo, Can Jia, Handong Li","doi":"10.1504/ijads.2021.10032106","DOIUrl":"https://doi.org/10.1504/ijads.2021.10032106","url":null,"abstract":"Under the assumption of the asset prices obey jump-diffusion process, static optimal liquidation strategies and efficient frontier are provided based on the mean-variance criterion and the minimum loss probability criterion separately. Furthermore, this paper analysed the impact of price jump component on optimal liquidation strategy. And the results indicate that, under the mean-variance criterion, the price jump component will change the trajectory of the optimal liquidation strategy and the final liquidation cost. While under the minimum loss probability criterion, the price jump component will not affect the optimal liquidation strategy, but will change the value of minimum loss probability.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"175 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123498475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The orbital systems theory","authors":"Shervin Zakeri, N. Cheikhrouhou","doi":"10.1504/IJADS.2021.114958","DOIUrl":"https://doi.org/10.1504/IJADS.2021.114958","url":null,"abstract":"In this paper, a new theory is introduced called orbital systems theory to handle the uncertainty of the natural phenomena, the complicated real-world problems, and the human's decision-making process which naturally creates the inconstancy and uncertainty in each process it involves. The philosophy of the new theory is established based on this hypothesis that every component of the universe is a box that carries the information and each one is constructed by the particular information concepts that move along specific orbits. The orbital system is an integral part of the new theory. As a restricted numeric system, its core is the concept of reality. An orbital system is developed based on five numerical spectra surrounded by four parallel dimensions of reality and certain reality. With considering 'time' as an element, each dimension adds entropy to the system, and increases/decreases the level of uncertainty.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128439561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A novel data cluster algorithm based on linear regression and residual analysis for human resource management","authors":"Hengxiaoyuan Wang","doi":"10.22541/AU.161183232.24126098/V1","DOIUrl":"https://doi.org/10.22541/AU.161183232.24126098/V1","url":null,"abstract":"Human resource management has become an important part of enterprise\u0000management. How to select high-quality talents and how to allocate\u0000corresponding talents to appropriate works have become an increasingly\u0000acute problem. Traditional data cluster methods cannot effectively solve\u0000the above problem due to the high-dimensional data. Therefore, we\u0000propose a novel data cluster algorithm based on linear regression and\u0000residual analysis for Human Resource Management. Improved hybrid entropy\u0000weight attribute similarity is adopted for measuring the similarity\u0000between objects. The proposed local density calculation method based on\u0000KNN and Parzen window is used to calculate the density of each object.\u0000Then, we utilize the linear regression and residual analysis to select\u0000the clustering center points quickly and automatically, which can\u0000eliminates the subjectivity of artificial selection. A new clustering\u0000center objective optimization model is proposed to determine the real\u0000clustering center. Through theoretical analysis and comparative\u0000experiments on artificial data sets and real data sets, it shows that\u0000the proposed cluster algorithm can overcome the defects of the original\u0000algorithms, and achieve better clustering effect and lower computation\u0000time than state-of-the-art methods.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116842095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Authentic leadership competences and positional favouritism: impact on positive and negative organisational effectiveness","authors":"I. Akuffo, Kurmet Kivipõld","doi":"10.1504/IJADS.2021.112927","DOIUrl":"https://doi.org/10.1504/IJADS.2021.112927","url":null,"abstract":"The world of business has become complex and, therefore, it is important for organisations to employ leaders with authentic principles. With this in mind, we explored how authentic leadership internal and external competences together with positional favouritism influence positive organisational effectiveness (job satisfaction and perceived organisational performance) and negative organisational effectiveness (turnover intentions and organisational politics). The sample consisted of 997 subordinates and 127 managers surveyed from public and private banks across Ghana. Second order confirmatory factor analysis and hierarchical multiple regression were used to analyse the data. We found that authentic leadership, internal and external competences increase positive organisational effectiveness while negative organisational effectiveness is decreased. Positional favouritism increases negative organisational effectiveness while positive organisational effectiveness is decreased. Authentic leadership internal competence together with positional favouritism had a negative influence on positive organisational effectiveness. Positional favouritism together with authentic leadership internal and external competences had a positive influence on turnover intentions. The discussion, implications, limitations and future research are discussed.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"131 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114362694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Major projects optimal capacity and timing with time-to-build and investment cost dependency on capacity","authors":"S. B. Abdallah, Alexandre Croutzet, Jan Ortmann","doi":"10.1504/IJADS.2020.10029874","DOIUrl":"https://doi.org/10.1504/IJADS.2020.10029874","url":null,"abstract":"This paper acknowledges the dependency of the project schedule, known also as the time-to-build, on the project capacity and proposes a real options model to determine the project optimal capacity, timing and value. In particular, we show that the dependency of the time-to-build on the capacity implies that the optimal capacity depends on the project time-to-build even in the waiting region. We also show that a greater sensitivity of the time-to-build to project capacity leads to a lower optimal capacity. Moreover, as the underperformance of major projects in terms of costs and schedule is frequent, we quantify the loss associated with the late completion of a major project. By doing so, we provide practitioners with a tool to evaluate the expected losses associated with project underperformance consistent with the reality of major projects.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"2 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123697647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Teng Ren, Zhongbao Zhou, Sidi Li, Shijian Wu, Binghua Song
{"title":"Efficiency evaluation of regional ecological economic systems based on the network DEA model","authors":"Teng Ren, Zhongbao Zhou, Sidi Li, Shijian Wu, Binghua Song","doi":"10.1504/ijads.2020.10028087","DOIUrl":"https://doi.org/10.1504/ijads.2020.10028087","url":null,"abstract":"It is the usual policy of Inderscience to retract from publication any paper if, subsequent to publication, it becomes a matter of dispute about intellectual property, publishing ethics or legal issues. Each case is judged on individual circumstances. In this case, the authors ask that this paper be removed from the journal because following publication the authors found some calculation errors in the paper which needed attention. This paper has therefore been retracted.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114620756","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Overstatement of firm diversification effect on bankruptcy risk reduction","authors":"Zahra Faraji, Adam J. Fleischhacker","doi":"10.1504/ijads.2020.10027736","DOIUrl":"https://doi.org/10.1504/ijads.2020.10027736","url":null,"abstract":"This paper investigates the causal relationship between firm diversification and bankruptcy risk. Specifically, we examine the causal effect of diversification on the bankruptcy risk for US public firms using the Bayesian g-formula. We confirm the presence of a causal relationship between firm diversification and bankruptcy risk and discover results for US-based firms that are consistent with coinsurance theory; namely, diversification strategy reduces bankruptcy risk. However, the causal relationship is weaker than implied by most previous correlation literature, suggesting that the value of firm diversification has been overstated in related research and that causal techniques are useful in teasing out the true magnitude of an effect.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130600717","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A bi-level optimal scheduling model for virtual power plants and conventional power plants considering environmental constraints and uncertainty","authors":"Jun Dong, Lin-Peng Nie, Hui-Juan Huo","doi":"10.1504/ijads.2020.10030034","DOIUrl":"https://doi.org/10.1504/ijads.2020.10030034","url":null,"abstract":"To effectively realise the distributed energy resources participating in the system scheduling and reduce pollutant emissions from conventional plants, a bi-level stochastic optimal model for conventional plants and VPPs was built considering the uncertainty and environmental constraints. Firstly, a method of scenario generation and reduction is proposed to simulate the output of WPP and PV based on interval method and Kantorovich distance. Secondly, a bi-level stochastic optimal scheduling model for VPPs and conventional plants in a day-ahead plan is constructed. Finally, different simulation scenarios are designed to verify the effectiveness of the proposed model. The results illustrate that the model can overcome the influence of uncertainty and realise optimal economic jointly dispatch for VPPs and conventional plants under environmental constraints, through VPP technology, distributed power generation resources can be integrated effectively and have good environmental effect. Plants with high environmental performance will gain a larger share and generate more power.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122900001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A bi-objective multi-period closed-loop supply chain network under uncertain demand","authors":"Marjan Olfati, N. Javadian","doi":"10.1504/ijads.2020.10027097","DOIUrl":"https://doi.org/10.1504/ijads.2020.10027097","url":null,"abstract":"Due to the competitive environment, supply chain management is an important subject in the world of economy. It affects all of the activities including products manufacturing, flow between facilities and costs. In this research, a mixed-integer linear programming model is considered which included supplier, plants, demand markets, collection centres, and disposal centre. The closed-loop supply chain model is bi-objective. So, it is solved by the e-constraint method and non-dominated sorting genetic algorithm-II. In order to improve the meta-heuristic algorithm's efficiency, its parameters are tuned by Taguchi method. Afterward, the different dimensions of the model are considered and the problem is rewritten as a single-objective model and solved by LINGO software and the genetic algorithm using MATLAB software to compare the efficiency of the LINGO and meta-heuristic algorithm. In small-scale problems, solving by LINGO software and in large-scale problems, solving by meta-heuristic algorithms are more efficient.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121274127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sensitivity analysis applied to fuzzy inference on the value of information in the oil and gas industry","authors":"Martin Vilela, G. Oluyemi, Andrei V. Petrovski","doi":"10.1504/ijads.2020.10026404","DOIUrl":"https://doi.org/10.1504/ijads.2020.10026404","url":null,"abstract":"Value of information is a widely accepted methodology for evaluating the need to acquire new data in the oil and gas industry. In the conventional approach to estimating the value of information, the outcomes of a project assessment relate to the decision reached by following Boolean logic. However, human thinking is based on a more complex logic that includes the ability to process uncertainty. In value of information assessment, it is often desirable to make decisions based on multiple economic criteria which, if independently evaluated, may suggest opposite decisions. Artificial intelligence has been used successfully in several areas of knowledge, increasing and enhancing analytical capabilities. This paper aims at enriching the value of information methodology by integrating fuzzy logic into the decision-making process; this integration makes it possible to develop a human thinking assessment and coherently combine several economic criteria. To the authors’ knowledge, this is the first use of a fuzzy inference system in the specified knowledge domain. The methodology is successfully applied to a case study of an oil and gas subsurface assessment where the results of the standard and fuzzy methodologies are compared, leading to a more robust and complete evaluation. Sensitivity analysis is undertaken for several membership functions used in the case study to assess the impact that shifting, narrowing and stretching the membership relationship has on the value of information. The results of the sensitivity study show that, depending on the shifting, the membership functions lead to different decisions; additional sensitivities to the type of membership functions are investigated, including the functions’ parameters.","PeriodicalId":216414,"journal":{"name":"Int. J. Appl. Decis. Sci.","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115140517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}