Contract Value Research Articles

Research on The Lookback Option Pricing of Disney Based on BSM Model

The lookback option is a path-dependent option that enables holders to use the most advantageous pricing to execute the underlying asset. This paper adopts the BMS model to price the lookback option and takes risk factors into consideration to calculate the value of an option contract in the BMS model. The main variables in the BMS model are risk-free rate, current spot price, strike price, volatility, and time to maturity. The results are reliable enough for investors to make future decisions. However, the BMS model still has a few drawbacks which can make the prices derived from real future prices. When predicting future prices, using the BMS model can help investors make better decisions. The lookback option allows holders to minimize their regrets and exercise the underlying asset at the most beneficial price.

Sulodexide Develops Contraction in Human Saphenous Vein via Endothelium-Dependent Nitric Oxide Pathway.

Chronic venous disease (CVD) is a proqgressive and underestimated condition related to a vicious circle established by venous reflux and endothelial inflammation, leading to vein dilation and histology distortion, including loss of media tone. Sulodexide (SDX) is a drug restoring the glycocalyx that demonstrated endothelial protection and permeability regulation, together with anti-thrombotic and anti-inflammatory roles. In the lab it also exhibited vein contractility function. The aim of the present study was to show the possible role of endothelium and nitric oxide pathway on SDX's veno-contractile effect on human saphenous veins. The remnants of great saphenous vein (GSV) segments (n = 14) were harvested during coronary artery bypass graft surgery. They were dissected as endothelium-intact (n = 8) and denuded rings (n = 6). First, a viability test was carried out in bath with Krebs-Henseleit solution to investigate a control and basal tension value. After this, cumulative doses of SDX were applied to rings and contraction values were studied in endothelium-intact phenylephrine (PheE, 6 × 10-7 M) pre-contracted vein rings. Finally, endothelium-intact PheE pre-contacted vein rings were treated by nitric oxide synthase inhibitor Nω-nitro-L-arginine methyl ester (L-NAME, 10-4 M) for 10 min. Contraction protocol was applied, and contraction values were measured in cumulative doses of SDX. The same protocol was applied to endothelium-denuded vein rings to investigate the effect of SDX. Saphenous vein rings showed an increase in contraction to cumulative doses of SDX. In endothel-intact rings, KCL-induced contraction from 92.6% ± 0.3 to 112.9% ± 0.4 with cumulative SDX doses. However, SDX did not show any veno-contractile effect on endothel-denuded rings. In denuded rings contraction responses measured from 94.9% ± 0.3 to 85.2% ± 0.3 with increasing doses of SDX, indicating no significant change. Nitric oxide synthase inhibitor (L-NAME) prohibited the contraction response of the sulodexide in all dosages, indicating that the contractile function of SDX was mediated by endothelial derived nitric oxide. Results of endothel-intact and denuded rings with L-NAME showed a similar incline with denuded rings with SDX only. The results confirmed SDX's veno-contractile effect in human samples, by means of nitric oxide synthase pathways involvement.

Construction Services Income Tax Analysis

This study aims to determine the calculation, deduction, deposit, and reporting of income tax article 4 paragraph 2 for construction services at Nindya-Passokorang (KSO). The value of the budget contract uses funds sourced from WINRIP IBRD LOAN NO. 8043 - ID of Rp. 202,911,052,727. The data analysis method used is descriptive quantitative analysis of research results using numerical calculations to obtain data, the data source used in this study is primary data in the form of subject data obtained directly from the source and secondary data regarding the general description of service companies. construction. The results show that the income tax rate of article 4 paragraph 2 using a 3% rate with the qualifications of large and medium enterprises Nindya-Passokorang (KSO) no longer pays the final income tax article 4 paragraph 2 because service users are tax cutters. Based on research conducted in terms of monthly tax reporting that has been routinely carried out in order to avoid the applicable tax penalties.

Generation and analysis of synthetic surface electromyography signals under varied muscle fiber type proportions and validation using recorded signals.

The magnitude and duration of muscle force production are influenced by the fiber type proportion. In this work, surface electromyography (sEMG) signals of muscles with varied fiber type proportions, are generated. For this, relevant components of existing models reported in various literature have been adopted. Also, a method to calculate the motor unit size factor is proposed. sEMG signals of adductor pollicis (AP) and triceps brachii (TB) muscles are simulated from the onset of force production to muscle fatigue state at various percentages of maximal voluntary contraction (MVC) values. The model is validated using signals recorded from these muscles using well-defined isometric exercise protocols. Root mean square and mean power spectral density values extracted from the simulated and recorded signals are found to increase for TB and decrease for AP with time. A linear variation of the features with %MVC values is obtained for simulated and experimental results. The Bland-Altman plot is used to analyze the agreement between simulated and experimental feature values. Good agreement is obtained for the feature values at various %MVCs. The mean endurance time calculated using the model is found to be comparable to that of the experimental value. This method can be used to generate sEMG signals of different muscles with varying fiber type ratios under various neuromuscular conditions.

Reciprocal activation changes of lower extremity muscles caused by the abdominal hollowing maneuver in patients with unilateral lumbar disc herniation: an electromyography study

Aim: Decreased or delayed multifidus and transversus abdominis (TrA) activity, transition of the TrA from tonic to phasic activity, and increased activity in the more superficial erector spinae muscles are behaviors unique to people with lumbar disc herniation (LDH). This study investigates whether the abdominal hollowing maneuver (AHM), which activates the TrA, can improve the rates of impaired muscle reciprocal activation of the lower extremities due to unilateral LDH during walking, tandem walking, and stair climbing activities.Material and Method: The healthy and affected lower extremities of 17 patients with unilateral LDH were analyzed. The participants performed three activities and three times without the AHM. For the walking activity, the participants took a total of eight steps without deviating from their normal gait pattern. For the tandem walking activity, the participants covered the eight-step distance by performing heel-to-toe walking. For the stair climbing activity, the participants climbed a total of four steps without support from their upper extremities. The researchers visually checked the postures of the participants during all stages of the activities. The ratio of tibialis anterior (TA) and medial gastrocnemius (MGC) electromyographic values that emerged during the activities to the maximum voluntary isometric contraction (MVIC) values of these muscles was called MVIC%. Then the MVIC% values of the TA and MGC were matched, and the muscle reciprocal activation ratio ("MVIC%"-TA/"MVIC%"-MGC) was determined. While the activities were being performed, the MVIC% values of both muscles were measured separately without and with the AHM.Results: Reliability values ranged from 0.87 to 0.99, with an SEM of 2.22 to 11.98. The ICC3,1 was considered “good” or “excellent” for all muscle surface electromyography measurements. During the tandem walking activity performed with the AHM, the reciprocal activation rates of TA: MGC on the affected and healthy legs converged (p=0.010, d=0.71). However, TA: MGC reciprocal activation rates did not differ between the affected and healthy extremities in the walking (p=0.519, d=0.16) or stair climbing (p=0.180, d=0.35) activities performed with the AHM.Conclusion: According to the results of the study, integration of the AHM into tandem walking activity brought the reciprocal activation rates of both legs closer to each other and enabled them to exhibit similar behaviors, even without adherence to any exercise protocol. Therefore, tandem walking can be selected as an appropriate activity to combine with spinal stabilization exercises performed by unilateral L4-L5 radiculopathy patients using the AHM along with the task.

Pengaruh Penerapan Kontrak Belajar (Learning Contracts) Terhadap Kedisiplinan Belajar Siswa Kelas X dan XI di Sekolah Menengah Kejuruan (SMK) Bakti Karya Parigi

This study aims to determine the effect of implementing a learning contract on student learning discipline. The research method used is a simple linear regression method by performing the F test and t test. The research instrument used is a questionnaire, the population used is class X and XI students at SMK Bakti Karya Parigi with a total sample of 33 respondents (students). The data analysis used is descriptive data analysis technique. From the results of a simple linear regression test, it is knownthat the value of t count = 2.054 > t table 2.040 with a significance value of 0.049 < 0.05. Therefore Ho is rejected and Ha is accepted, thus there is an influence between the learning contract variable (X) on student learning discipline (Y). Based on the results and data analysis regarding the effect of implementing a learning contract (Learning Contract) on the learning discipline of class X and XI students at SMK Bakti Karya Parigi, it can be concluded that thereis an influence between the application of a learning contract (Learning Contract) on the learning discipline of class X and XI students at SMK Bakti Karya Parigi. The calculated r value of learning contracts and student learning discipline is 0.346 and the coefficient of determination or (R Square) is 0.120, which means that the effect of the learning contract variable on the student learning discipline variable is 12%, the rest is determined by other variables not discussed in this study.

Analysis of the Impact of Budget-Refocusing Policies on the Sustainability of Construction Services Companies

Business actors in the construction sector in the pre-pandemic period showed good performance, the projects obtained were on target, contract values rose, and operating income increased, until stable liquidity there was no minus, so, before the pandemic, projects were planned according to their schedules, the right targets, to the appropriate cost plan, but after the pandemic, hence the emergence of the government's policy on diverting the project budget for disasters (Covid 19), where this policy is called budget refocusing, the regulation is contained in the 'Regulation of the Minister of Finance of the Republic of Indonesia Number 87 / PMK.07 / 2020'. During the pandemic, construction work can hinder the implementation of the proposed project to show declining performance. The purpose of this study is to find out the factors that influence consultants in construction management activities and also to find out the impact of government policies on budget refocusing on construction project planning. Data collection was carried out by survey through a questionnaire, the respondents to this study were those in a Surabaya consulting company that was directly involved in the field of building construction that was affected by budget refocusing. As for the results of factor analysis in the correlation analysis test, one factor that significantly influences consultants in construction management activities is the factor of high labor wages with a correlation of 0.709. And for the impact of budget refocusing on construction project planning on cost factors, where the indicator is the untimely payment with a test value of 4,369.

Value of long-term LNG contracts: A theoretical and empirical study

With the rapid development of short-term and spot trade of liquefied natural gas (LNG), the natural gas market is gradually evolving from regionalization to globalization. At the same time, the existence and rationality of long-term LNG contracts have become increasingly controversial. To explore the value of long-term LNG contracts in the process of natural gas market globalization, this article constructs a two-stage game model and applies China’s LNG trade data in 2018 to the model. The study shows that, compared with complete import of short-term LNG, even if the long-term LNG contracts do not have price advantages, importing an appropriate amount of long-term LNG may help to increase the total LNG imports, reduce the price of LNG, and thus improve import benefits. Besides, a moderate amount of long-term LNG contracts is conducive to the establishment of a stable and flexible natural gas supply system and the security of natural gas imports. Therefore, natural gas importers should not underestimate or even ignore the value of long-term LNG contracts while actively participating in short-term and spot trade of natural gas.

Managing Emergency Procurement Using Option Contract under Supply Disruption and Demand Uncertainty

Effective and flexible procurement and production strategies are capable of alleviating and mitigating supply disruption and demand risk. Considering the price fluctuation caused by environmental change, we investigate the optimal procurement and production strategies under supply disruption and demand uncertainty based on option contract in a two‐stage supply chain consisting of a retailer who has two procurement opportunities and a supplier who has the emergency production chance. We explore the value of option contract by comparing it with the optimal decision making under no option contract. The result shows that option ordering and emergency procurement can coordinate the optimal strategies under uncertain environment, improving the economic performance of whole supply chain. When the disruption probability is high or the price of emergency procurement is lower, the higher option price can stimulate the supplier to produce more products to satisfy the retailer’s emergency order at a low price, which is beneficial to both, and the value of option ordering is greater. Otherwise, the emergency procurement is worth more for the core enterprise. The moderate exercise price is conducive to the long‐term cooperation of the supplier and the retailer.

Android Based Job Search Application “Megawe” for The Segment of Workers with an Education Level Below a University Degree

Indonesia is a vast market for talents recruiting, with around 203 million people that count into work age definition (above 15 years) and around 138 million of them are workforce, while 7 percent of the workforce are open for hire. There are several players of job-seeking apps in Indonesia. But most of them are targeting talents with undergraduate degrees and above. Mid to high-level jobs have become such an attractive market for these players. We can see it on several job seeker hub websites, where job seekers proudly post their personal profiles to attract recruiters from top employers. It is not possible for lower-level job seekers to post their profiles on these websites. They will just be under the recruiter's radar. Whereas from the report data released by the Indonesian statistical center bureau regarding the percentage of open unemployment based on education level, the total unemployment rate from diploma education and below is very large compared to the unemployment rate with university education (undergraduate and above). The Covid-19 pandemic also gave a negative impact on the lower job segment, with a decrease in demand and sales resulting in a higher layoff rate which also means an increased percentage of the open unemployment rate. We need a solution to this problem. A solution that can erode a large chunk hidden under an iceberg. This paper offers “Megawe”, a mobile application-based solution to assist both job seekers and low-level job recruiters. This segment may have a smaller contract value than upper segments but has a much larger quantity of labor force. Because we are focusing on development speed and accuracy of requirements, we used the prototyping methodology in the implementation of the solution. Moreover, before it is launched publicly, we conducted usability testing to gain a deeper understanding of the user experience directly from users of the targeted segment.

A Regulamentação da Nova Lei de Licitações: Definição da Lógica Institucional Prevalente em um Campo

ABSTRACT Objective: the present research analyzes how regulatory definitions occur in a field, in which participants defend multiple logics in the public procurement of large-scale engineering works and services, with a focus on the requisition of guarantee insurance. It also discusses a take-back clause and the percentage of the contract value to be insured. Theoretical approach: this work is part of the discussion about how an institutional logic is constituted, given the competition between multiple logics in a field. Method: the research is focused on discussions relevant to the field. Data collection was carried out through a documentary survey of the analysis of speeches in Congress, as well as interviews with relevant actors in the field using a semi-structured script. Results: the conflicts between logics are resolved through combinations with elements from other field logics. They emphasize the power of actors’ coalitions to define regulatory issues. The study, thus, pointed out how the participants managed to reduce the influence of the logic defended by the insurance market, in favor of the interest of construction companies in the drafting of the project, showing that different market logics can contradict one another. Finally, elements exogenous to the logic under construction are fundamental in its formulation. Conclusions: the theoretical contribution of the study indicates that the institutional logic that becomes prevalent in a complex field is the result of the imposition of a coalition of actors combining elements from distinct logics. However, the coalitions may be different for each of the questions examined.

Methodology of Estimating Construction Projects Contingency

Most construction projects suffer from many change orders during the construction period of the project and that leads to allocate more funds to cover these changes. Determining the amount of this fund by the owner is difficult due to the uncertainties in the construction project. On the other side, these allocated funds mean a restriction to valuable money that could be used for other financial activities. In this paper, a proposed methodology is suggested estimating the project contingency instead of the traditional approach of adding fixed value based on the contract value of the project. This methodology makes sure that minimum contingency is allocated through analyzing data from previous similar projects and identify the most activities causing change orders (consume contingency) then take actions in the planning stage to organize these activities and ensure their execution within the budget allocated. The amount of contingency could be determined based on the previous information. This methodology applied on a case study consists of seven construction projects in Tikrit University and the application indicates that adopt a scientific approach (such as this methodology) in estimating the amount of project contingency could increase the precision of estimation and minimize the contingency amount.

Deciphering cultural differences between local and foreign contracting firms using Hofstede’s national culture model in the construction industry

Most construction works in the Zambian construction industry are executed by foreign contractors who are eligible to tender for large-scale construction projects. These works amount to 85% of the national contract value. Foreign contractors are seen as better performers in project deliverables of time, cost and schedule compared to local contractors. This research investigated the magnitude to which national culture impacts contractor performance in the Zambian construction industry. A comparison of culture and performance was made between foreign and local firms in the two top construction categories, using Hofstede’s national culture framework to determine performance improvements of local contractors. A total 112 questionnaires were collected and SPSS was used to analyse the data descriptive statistics and inferential statistics. Findings revealed that foreign contractors manage uncertainty avoidance in a more superior manner compared to local contractors. The clients rated foreign contractors as better performers apart from health and safety. The study established that Local contractors must improve their performance if they are to compete favourably with the foreign contractors' success record.

The BIM Implementation for Preparing Mutual Check-0 (MC-0) Documents in the Building Development Project of Edusmart Soerojo Hospital Magelang

The development of Building Information Modeling (BIM) technology in the construction sector has been a solution to the problem of preparing planning documents that often occur. It can lower the discrepancy between the value of the planning contract and the value of the building construction implementation contract. The BIM system defines the physical characteristics of a design model into information that can be implemented at several stages of construction work, one of which is Mutual Check 0 (MC-0). Preparing documents (MC-0) on construction projects aims to adjust planning documents in the form of analysis of work items, working drawings, and calculation of the volume of work that affects the contract value. In a short time, the parties involved in construction work, such as contractor service providers and supervisory consultants, need to check the planning volume to match the actual volume of work in the field. In the Edusmart Soerojo Hospital Magelang Building construction project, Building Information Modeling (BIM) is used to check the volume of work. This checking process is assisted by using the Autodesk Revit 2021 software. This study reviews the effectiveness of BIM in preparing documents (MC-0) using a comparative descriptive method, comparing the volume of work in contract documents with the actual volume in the field. This study's results show a difference between adding and reducing volume in the field. The addition occurred in earthworks and excavation, foundation structure, 1st-floor structure, 2nd-floor structure, roof floor structure, and Ground Water Tank (GWT) work. In contrast, the decrease occurred in the sloof understructure and roof work. The total volume obtained indicates a difference in the contract value of the structural work, which has increased by 9.47%. The initial planning contract value was IDR 5,569,152,785.40, an increase of IDR 527,623,004.49 to IDR 6,096,775,789.89.

Econometric models - a method for examining factors of implementation of public-private partnership projects in selected European countries

Modern science is based on the study of economic phenomena and tries to quantify them in a measurable way. Econometric models are used for this purpose. The object of this research was to develop econometric models that show the strength of the influence of various factors on the implementation of public-private partnership (PPP) projects in the area of transport infrastructure in France, GB, Germany, the Netherlands and Belgium. The models express the dependence of the value and number of PPP contracts on the value of measurable PPP success factors. Projects with a value of at least EUR40 million were included. A linear model and seven models transformable to linear were used. Four groups of factors were considered as explanatory variables. Fourteen indicators were obtained. Principal components determined based on covariance and correlation matrices were also used. The best models for the number of PPP contracts are linear and hyperbolic I models. For the value of contracts - linear and hyperbolic I and logarithmic models. The best models were indicated taking into account the type of explanatory variables and regardless of the type of explanatory variables. Nine criteria were used to assess the quality of the models. Factors having a significant impact on the value and number of PPP models were identified from the best models. Factors having no significant influence were also indicated.

The influence of the menstrual cup on female pelvic floor muscles variables: a prospective case series

ABSTRACT The aim was to assess and report the effects of menstrual cup on pelvic floor muscles (PFM) function and tone, as well as check the acceptability after a period of three menstrual cycles in healthy young women. The data collected in assessments and reassessments included the International Consultation on Incontinence Questionnaire – Vaginal Symptoms (ICIQ-VS) questionnaire, evaluation of PFM function through PERFECT Scheme, PFM muscle tone, and PFM manometry (Peritron 9300®). A diary regarding the overall colletor acceptability and satisfaction was collected. Ten healthy young women completed the study. There was an improvement in the mean values of maximal voluntary contraction (MVC) (p = 0.032), a decrease in the vaginal resting pressure (VRP) (p = 0.05), and an increase in the number of repetitions of sustained muscle contractions (p = 0.042). Seven women reported some discomfort while using the vaginal cup only in the first cycle while three revealed discomfort during the whole experiment. This study provides preliminary case-based evidence that the use of the vaginal cup for a period of three menstrual cycles changes the VRP, MVC, and PFM tone, as well as improves the repetitions of PFM assessed by digital palpation. Moreover, the women reported the use of vaginal cup as a positive experience.

A finite elements approach for spread contract valuation via associated two-dimensional PIDE

A finite elements approach for spread contract valuation via associated two-dimensional PIDE

Ultra Treasury Bond Futures

In this article, we determine the quality option value of Ultra Treasury bond futures contracts, which allow deliverable bonds between 25 and 30 years to maturity, and compare them with the new regular Treasury bond futures, which allow deliverable bonds between 15 and 25 years to maturity. We use the arbitrage-free Ho-Lee model for the valuation. Using weekly data from March 25, 2011, until April 16, 2021, after the Ultra futures contract was introduced, we discover that (1) that quality option value is higher for the Ultra futures than the new regular futures, (2) the Ho-Lee model consistently underprices the market, and (3) the “dry spell” period predicted by <xref>Ben-Abdallah and Breton in 2017</xref> is only partially supported.

Two year follow-up and comparison of pelvic floor muscle electromyography after first vaginal delivery with and without episiotomy and its correlation with urinary incontinence: A prospective cohort study.

Few prospective studies have revealed the long-term neuromuscular alterations of pelvic floor after vaginal delivery. The aim of this study was to evaluate the impact of episiotomy on the electrical activity of pelvic floor muscle 2 years following vaginal delivery, and explore the relation between surface electromyography (sEMG) amplitudes and urinary incontinence. A total of 427 primiparous women with full-term singleton vaginal delivery were included in the cohort and 362 with no further births within the 2 year follow-up completed observations. Of these, 200 underwent episiotomy and 162 underwent nonepisiotomy. Clinical demographic characteristics, vaginal EMG variables and urinary incontinence-specific questionnaire scores were collected at 6 weeks, 6, 12 and 24 months after childbirth, respectively. Primary outcomes were the comparison of sEMG values between the episiotomy and nonepisiotomy groups throughout 2 years. Secondary outcomes were the correlation between sEMG of both groups and the incidence and severity of urinary incontinence. Spearman's correlation analysis, Kruskal-Wallis test and ANOVA with Bonferroni correction were used to analyze the variables. Amplitude of maximal fast and endurance contractions on sEMG in the episiotomy group was significantly lower than the nonepisiotomy counterpart. Such difference of sEMG persisted for a long period after birth: endurance contraction, 33.12 ± 8.92 vs 35.085 ± 9.98, p < 0.01 at 24 months, and fast contraction, 36.53 ± 8.87 vs 39.05 ± 9.98, p=0.01 at 12-month. Although there was no significant difference in incidence and severity of urinary incontinence between both groups, a negative correlation existed between EMG values of muscle contraction and urinary incontinence symptoms throughout. Primiparous women delivered with episiotomy demonstrated lower contractile sEMG activity of pelvic floor muscle in the long term. The lower sEMG values of fast contraction were associated with urinary incontinence symptoms.

Procedure for Separate Accounting of Interest and Exchange Rate Components of the Fair Value of a Set of Financial Instruments: IFRS

The research considers the development of the principles of separate accounting and analysis of the interest and exchange rate components of the fair value of a set of financial instruments under the International Financial Reporting Standards (IFRS). The aim of the work is to consider a practical situation with a deferred payment for financial instruments received under an agreement, while the participants of the scheme hedged economic transactions using derivative financial instruments. Here, from the standpoint of accounting and analytics, the mechanism of separation of interest and exchange rate elements, which directly affect the fair value of the forward contract, is of significant importance. It also related this to the requirements of IFRS standards. The research has developed a procedure for separate accounting of these financial components. In particular, it has worked out an algorithm for accounting and mathematical evaluation of exchange rate differences when hedging cash flows of debt instruments with currency forwards. The methodological base of the research includes dynamic situational analysis, system analysis, models of financial mathematics, analytical procedures of the modern theory of financial accounting. The theoretical and practical significance of the research lies in the development of scientific and applied tools based on accounting and process models and evaluation algorithms. The accounting can use the developed procedures, analytical and audit services of banks and corporations in preparing and analyzing financial statements under IFRS.