Theoretical Plane Research Articles

ОБМЕЖЕННЯ ОЦІНЮВАННЯ ЦІНИ АКЦІЙ КЛАСИЧНИМИ МЕТОДАМИ: КРИТИКА ЇХ НАДІЙСНОСТІ ТА ВПЛИВ ПОВЕДІНКОВИХ ФІНАНСІВ ОГРАНИЧЕНИЯ ОЦЕНКИ ЦЕНЫ АКЦИЙ КЛАССИЧЕСКИМИ МЕТОДАМИ: КРИТИКА ИХ НАДЕЖНОСТИ И ВЛИЯНИЕ ПОВЕДЕНЧЕСКИХ ФИНАНСОВ

When trying to figure out which valuation method to use to value a stock for the first time, most investors will quickly discover the overwhelming number of valuation techniques available to them today. There are the simple to use ones, such as the comparable method, and there are the more involved methods, such as the discounted cash flow model besides all of them have their own problems and limitations as well as impacted with behavioral finance. Companies have an intrinsic value, and that intrinsic value is based on the amount of free cash flow they can provide during their effective lifetime. Money later is worth less than money now, however, so future free cash flows have to be discounted at an appropriate rate. The theory behind most stock valuation methods is that the value of a business is equal to the sum value of all future free cash flows. All future cash flows are discounted due to the time value of money. If you objectively know all future cash flows of a company, and you have a target rate of return on your money, then you can know the exact amount of money you should pay for that company. Preparing the work, the following methods were used: Systematic analysis of the scientific literature; Comparative analysis; Systematization, comparison and summarizing of the results. Behavioral Finance in the theoretical plane based on a cumulative and develop the institutional framework and practical manifestations become increasingly important element-catalyst for the development of financial markets. Unfortunately, there is no one method that is best suited for every situation. Each stock is different, and each industry sector has unique properties that may require varying valuation approaches. In this article we structure and compare different methods, their strengths and weaknesses.

Transformative Adult Learning: Turn towards a «Holistic Understanding of Subjectivity»

According to the challenges of globalization age and demands of international community to determine the role and content of education in the processes of transformation, internationalization and integration, there are some problems of transformative education for adults both on theoretical and practical plane: what is a nature of "Holistic Subjectivity’s" transformation; which role do rational and extra-rational components of cognitive processes perform; what adequate pedagogical practices should be; what creative potential of individuals is revealed through new semantic horizons. 
 In the process of intersubjective becoming, the theory of transformative learning, founded by Jack Mezirow, has found both its internal and external development potential. The first one is ability of the Theory to self-transformation on the basis of scientific communication, critical reflection and rational discourse. The second one is related to openness and inclusiveness of the Theory in pluralistic space of methodologies of the transdisciplinary science. The combination of internal and external development factors has created the conditions for implementation of a methodological turn-shifting emphasis from rational-cognitive paradigm to enactivism as a concept that is based on the principles of holism, corporeality, affectivity, emotionality of cognitive processes and their self-organization as complex dynamic systems. This allowed us to look at the person's transformation as a corporeal and affective reframing and make a conclusion about his important role in the transformative adult learning. 
 In the context of the given methodological turn, the main task is to mobilize researchers’ attention to the nature and role of all extra-rational components of transformative learning. It is the enactivist approach, including theory of self-organization of complex dynamical systems, which can help us clarify the role of feelings and dynamics of a holistic living body in the person's transformation.

Understanding Exercise Intentions among Women Exercising in Fitness Classes: An Application of the Theory of Planned Behaviour

The study was aimed at examining the usefulness of the Theory of Planned Behaviour (TPB) in predicting exercise intentions and exercise of women in fitness classes. On the theoretical plane it broadens state of knowledge on the TPB, but the findings are also important for the development of more effective interventions to promote and maintain exercise engagement of women in fitness centers. The study was carried out in the second quarter of 2016 in two fitness centers in Katowice, Poland. The participants were 95 women aged 17-66 (M=37.40±12.15). The obtained data were analyzed with the use of structural equation modelling (path analysis). Significant predictors of intention to exercise were perceived behavioural control and attitude, with the strongest effect observed in the former. The findings of the study suggest that interventions should focus on increasing the level of control over women’s exercise behaviours and shaping attitudes toward them.

Deformation Behavior of Pure Zinc Single Crystals during a single pass of ECAP

A single pass of equal channel angular pressing (ECAP) at 223 K was applied to six kinds of Zn bulk single crystals with different crystal orientations, and the deformation behavior was investigated, such as grain refinement and texture development. Zn bulk single crystals with several millimeters can be divided into a number of grains with several tens micron meters by a single pass of ECAP. Also, texture formed by activation of basal and second order pyramidal slips. Increasing twin boundaries by double twinning, and occurrences of recrystallization at the twin boundaries are required for grain refinement before passing through the theoretical shear plane in the ECAP die.

CONCEPTUAL PROVISIONS ON THE DEVELOPMENT AND IMPLEMENTATION OF THE MECHANISM OF THE INSTITUTE OF TRUST FORMATION IN THE FINANCIAL SERVICES MARKET

Urgency of the research. In order to develop the financial services market, reform in this area needs to be implemented and measures should be taken to increase the level of trust among the key players in such a market. Target setting. The realities of Ukrainian system of state regulation of the financial intermediaries’ activity testify that the introduction of new ideas, concepts or provisions in this area requires the construction of an effective mechanism for their implementation. It should be clearly defined in the theoretical and methodological plane with the justification of its constituents. Actual scientific research and issues analysis. The works in the field of functioning of the financial services market should include the papers of such scientists: Bobrov Ye. A., Bondarenko Ye. P., Vyshyvana B. M., Voytenko O. M., Kovalenko Yu. M., Rekunenko І. І., Smagin V. L., Unets-Khodakivska V. P., Yuriya S. I., Yashchuk V. V., Asmundson I., Herring R., Stijn C., Wyman О. Uninvestigated parts of general matters defining. Despite the developments in this area, the theoretical and methodological principles of justification of the mechanism of forming confidence in the financial services market are not developed. The research objective. The purpose of the work is to develop the provisions for the creation and implementation of a mechanism for the establishment of a trust institution in the financial services market. The statement of basic materials. The importance of developing and implementing a mechanism of trust building in the financial services market for the further development of such a market is determined. The main elements of such a mechanism, the relationship between them are described and their essence and role in the process of building such a market are determined. Within the mechanism, its purpose, principles, functions, security units, methods and tools are identified. It is indicated that the mechanism should act in order to obtain concrete results, the types of which are defined. Conclusions. The article substantiates the principles of developing and implementing the mechanism of formation of the trust institution in the financial services market.

Simulations of autonomous fluid pulses between active elastic walls using the 1D-IRBFN method

We present numerical solutions of the semi-empirical model of self-propagating fluid pulses (auto-pulses) through the channel simulating an artificial artery. The key mechanism behind the model is the active motion of the walls in line with the earlier model of Roberts. Our model is autonomous, nonlinear and is based on the partial differential equation describing the displacement of the wall in time and along the channel. A theoretical plane configuration is adopted for the walls at rest. For solving the equation we used the One-dimensional Integrated Radial Basis Function Network (1D-IRBFN) method. We demonstrated that different initial conditions always lead to the settling of pulse trains where an individual pulse has certain speed and amplitude controlled by the governing equation. A variety of pulse solutions is obtained using homogeneous and periodic boundary conditions. The dynamics of one, two, and three pulses per period are explored. The fluid mass flux due to the pulses is calculated.

Escenarios Electorales para México 2006: el Juego de Simón

<p>A partir del enfoque de la elección racional, este trabajo analiza el papel que juegan las empresas en los procesos electorales. Desde el plano teórico, encuentra que los repetidos ciclos de encuestas tenderán a llevar a los electores a un “equilibrio duvergiano”, guiándolos a coordinarse a partir de sus creencias iniciales, con evidencia empírica, muestra cómo este efecto se da realmente durante el proceso de elección presidencial en México de 2000, y sugiere posibles escenarios para la disputa del Ejecutivo Federal en 2006.</p>

Formula omitted] twin boundary showing very large deviation from the theoretical one in deformed magnesium alloy

Structure of 101¯1 twin boundary in an AZ31 magnesium alloy has been characterized by means of transmission electron microscopy (TEM) and high-resolution TEM. It is found that actual twin boundary entirely departs from theoretical twinning plane in 101¯1 twin system. Furthermore, it is shown that six kinds of facets, including 101¯1 coherent twin boundaries, {0002}‖101¯1¯ basal-pyramidal (BPy), 1¯011¯‖{0002} pyramidal-basal (PyB), 1¯010‖101¯3 prismatic-third pyramidal (P3Py), basal-prismatic (BP/PB) boundaries and 101¯2 coherent twin boundaries, can coexist in one 101¯1 twin system. Based on these structure features, the underling mechanisms responsible for large deviation phenomenon are discussed, with focus on BPy, PyB, P3Py boundaries and strain accommodation.

Fully coupled simulation of a hydraulic fracture interacting with natural fractures with a hybrid discrete-continuum method

Summary A hybrid discrete-continuum numerical scheme is developed to study the behavior of a hydraulic fracture crossing natural fractures. The fully coupled hybrid scheme utilizes a discrete element model for an inner domain, within which the hydraulic fracture propagates and interacts with natural fractures. The inner domain is embedded in an outer continuum domain that is implemented to extend the length of the hydraulic fracture and to better approximate the boundary effects. The fracture is identified to propagate initially in the viscosity-dominated regime, and the numerical scheme is calibrated by using the theoretical plane strain hydraulic fracture solution. The simulation results for orthogonal crossing indicate three fundamental crossing scenarios, which occur for various stress ratios and friction coefficients of the natural fracture: (i) no crossing, that is, the hydraulic fracture is arrested by the natural fracture and makes a T-shape intersection; (ii) offset crossing, that is, the hydraulic fracture crosses the natural fracture with an offset; and (iii) direct crossing, that is, the hydraulic fracture directly crosses the natural fracture without diversion. Each crossing scenario is associated with a distinct net pressure history. Additionally, the effects of strength contrast and stiffness contrast of rock materials and intersection angle between the hydraulic fracture and the natural fracture are also investigated. The simulations also illustrate that the level of fracturing complexity increases as the number and extent of the natural fractures increase. As a result, we can conclude that complex hydraulic fracture propagation patterns occur because of complicated crossing behavior during the stimulation of naturally fractured reservoirs. Copyright © 2017 John Wiley & Sons, Ltd.

Transversal aberrations at arbitrary Hartmann-plane distances: application in the least-squares fitting of Hartmann data.

In a previous work, we introduced the concept of transversal aberrations {U,V} calculated at arbitrary Hartmann-plane distances z=r [Appl. Opt.55, 2160 (2016)APOPAI1559-128X10.1364/AO.55.002160]. These transversal aberrations can be used to estimate the wave aberration function W, as well as the classical transversal aberrations {X,Y} calculated at a theoretical plane z=f, where f is the radius of a reference semisphere. However, when the ray identification is difficult to achieve at z=f, the use of {U,V} can be of great help. In the context of a least-squares fitting of the Hartmann data, the use of {U,V} is proposed by analyzing some simple examples for the case of a W with aberration terms up to the third order. These examples also consider the hypothesis f≫W, as presented in the majority of the optical applications.

El pasaje del estado y el derecho a la postmodernidad

<p>El presente artículo pretende explorar la génesis social que fue dando origen a la implementación<br />y constitución de lo que en nuestros días se conoce como el campo neoliberal y<br />neoinstitucional como fórmulas novedosas de regulación global de las relaciones sociales de<br />producción del capitalismo globalizado. La hipótesis que se defiende en estas líneas es que<br />estos campos son el fruto del agotamiento que sufrió el modelo Taylorista-Fordista-Keynesiano,<br />propio del denominado Estado de Bienestar, debido a la naturaleza de las luchas sociales<br />que se desarrollaron dentro de ese contexto. El objetivo general que se quiere mostrar en la<br />argumentación es que el tipo de Derecho asociado al Estado de Bienestar está íntimamente<br />asociado a las tesis que sobre el mismo desarrolló Max Weber, pero que en nuestros días ese<br />tipo de racionalidad cada vez más tiende a carecer de sentido. El artículo quiere introducirse<br />en la discusión contemporánea sobre el carácter y significado del Derecho en la sociedad del capitalismo globalizado para inscribirse en el plano teórico y político de su naturaleza de regulación y subordinación o de su naturaleza emancipatoria en el seno del movimiento social.</p>

All that is the case: documents and indexicality

Three alternative epistemologies of documentation are discussed, starting from the Otletian conception, following with Suzanne Briet´s reframing, and finishing with the neo-documentalism of Michael Buckland. Regarding the theoretical plane, Wittgenstein’s language games and Buckland’s perspective on documentation are brought one in front of the other. The main objective is to discuss the problems of significance and meaning, drawing on the concepts of indexical presence and absence. Some photographs of the late Professor Eduardo Murguia are taken as an example and reference. The author comes to the conclusion that documents can be characterized not necessarily as evidence or proof, but as an index, which can reveal both what is present and what is absent in the documentary record.

Ética y democracia

1. Whatever the “minimum democratic ethic” may be, the question points, ultimately and definitively, to the relationship between ethics and democracy, which has historically occurred both on the practical level, of politics as activity, as in the theoretical plane, either of moral sciences or political sciences. Considering that, from the point of view of logic, the term constitutes the manifestation of the concept, it becomes natural to begin with the analytical approach to the problem and, consequently, to determine preliminarily what is to be understood by "ethics" and what by "democracy". ”.

Conspicuous consumption among Hispanics: Evidence from the Consumer Expenditure Survey

Ethnic disparities in consumption patterns (clothing, jewellery, cars, etc.) have been a focus of social research for decades, yet little attention has been paid to conspicuous consumption and the relative importance of ethnicity and social class as its determinants. In an attempt to fill in this gap and to deconstruct the monolithic category of Hispanic consumers, the present study used nationally-representative data from the U.S. Consumer Expenditure Survey (CE) to investigate the expenditure patterns of Hispanic consumer households, with a special focus on conspicuous consumption. On the theoretical plane, this study evaluated two alternative explanations of the propensity to consume conspicuous items among ethnic minority households – conspicuous consumption and compensatory consumption theories. The findings demonstrated that, as compared to other Hispanic groups, Cuban Americans tended to spend less on conspicuous items. With the exception of Cuban Americans, Hispanics residing in more affluent neighbourhoods were prone to allocate greater shares of their expenditure to conspicuous goods. We also found a positive association between sociolinguistic assimilation into Anglo culture and conspicuous consumption of Hispanic households.

Feasibility of attaining uniform grain structure and enhanced ductility in aluminum alloy by employing a beveled punch in equal-channel angular pressing

The advantage of using a beveled-edge punch in equal-channel angular pressing is investigated. Lambda angle (λ), the clockwise angle between the theoretical shear plane and punch/billet interface, is used to demonstrate how the punch tip is inclined. Transmission electron microscope is used to assess the microstructure of the samples processed using a beveled-edge punch. In addition, tensile tests at elevated temperature are performed. The results show that using a beveled-edge punch (λ=90°) in the process leads to formation of uniform subgrain structure and increases the tensile ductility for the samples at elevated temperature. Additionally, finite element simulations are performed to study the correlation between measured properties and mechanism of material deformation by employing a beveled-edge punch. Numerical simulations confirm the irregular deformation in case of λ=0° and uniform strain distribution for λ=90°, which were the main reasons of variation in mechanical properties.

Improved Planar MOS Barrier Schottky (PMBS) Rectifier with High-<i>k</i> Dielectrics

In this paper, an improved planar MOS barrier Schottky (PMBS) rectifier is proposed which utilizes the PECVD deposited high-k semi-insulating polycrystalline silicon (SIPOS) as the MOS area gate dielectrics for the first time. By adopting the high-k SIPOS as the MOS gate dielectrics, the peak electric field at the interface betwwen dielectrics layer and SiC can be significantly relieved and the device reliability can obviously enhanced without considerable degradation of on-state characteristics. With the optimized the thickness of the SIPOS film, the breakdown voltage (BV) of 1500V for the fabricated device was achieved, which is approximately corresponds to 85% of the theoretical parallel plane breakdown voltage value calculated from the used epilayer structure. And the specific on-state resistance (RSP-ON) is about 4.2mΩ•cm2. The corresponding figure-of-merit of VB2/ RSP-ON for the proposed device is 535.7MW/cm2.

Effect of effective lens position on cylinder power of toric intraocular lenses

ObjectiveTo evaluate the effects of effective lens position (ELP) on the corneal plane effective cylinder power of toric intraocular lenses (IOLs). DesignRetrospective cross-sectional study. ParticipantsNinety-four eyes from 78 patients who underwent uncomplicated phacoemulsification with implantation of an AcrySof toric IOL (1.50- to 3.00-D cylinder). MethodsThe amount of corneal plane effective cylinder power of toric IOLs given by the manufacturer (target-induced astigmatism vector [TIA]) was compared with the postoperatively achieved cylindrical correction (surgically induced astigmatism vector [SIA]). The theoretical corneal plane cylinder power of toric IOLs was calculated according to ELP and corneal power using a refractive vergence formula. ResultsThe TIA (1.59 ± 0.43 D) was significantly smaller than the SIA (1.78 ± 0.65 D; p < 0.001). The difference between the magnitudes of SIA and TIA demonstrated a significant negative correlation with ELP (r = –0.219 and p = 0.034). The theoretical corneal plane cylinder power of toric IOLs demonstrated a decreasing trend as the ELP and corneal power increased. The range of changes in corneal plane effective cylinder power according to ELP and corneal power was greater in toric IOLs with high toricity. ConclusionsThe cylinder power of AcrySof toric IOLs should be adjusted according to ELP. For eyes with small ELP, the cylinder power should be reduced, and for eyes with large ELP, the cylinder power should be increased. The amount of reducing or increasing cylinder power of toric IOLs should be increased as the toricity increases.

Soil Structure Interaction Analysis of a Dry Dock

Pile foundation is one of the most popular forms of deep foundations and is widely used for supporting water front structures in weak soils characterized by low shear strength and high compressibility, and also in structures which are subjected to heavy lateral loadings and moments. The lateral forces are mainly due to berthing forces and lateral earth pressure due to unstable slope as a result of dredging or siltation etc. Conventionally API guidelines and Vesic equation are used to analyze the laterally loaded piles. The study of laterally loaded pile in active soil wedge requires a proper assessment of soil structure interaction phenomenon involving the interaction between pile surface and the surrounding soil. The instability of soil wedge can occur due to self weight, surcharge load, dredging, siltation and earthquake force. Laterally loaded piles are analyzed by methods derived from the classical beam on elastic foundation mode in which the soil support is approximated by a series of independent elastic spring. The soil spring constants estimated from API guidelines and Vesic equations are not suitable for piles located in active soil wedge. Hence a numerical study is carried out for on dry dock in site specific soil and in dense sand, in order to study the behaviour of piles in active soil wedge. Based on the P-Y curves plotted for piles located in active soil wedge, appropriate reduction factor is obtained for API guidelines for dense sand. From reduction factors, it is concluded that the effect of active soil wedge decreases with increase in distance from the crest of the wedge. Profile of the active soil wedge using P-Y curve plots from Plaxis results closely matches with the theoretical soil slip plane. Soil spring constants are estimated from the modified API curves and are used to model the dry dock in Staad pro for dense sand in order to validate the results.

“Más Allá de la Frontera Letrada: El Horizonte de un Comparatismo Nuevo en los Estudios Fronterizos Unión Europea /América-Latina”

A malaise hovers over the erstwhile field of border studies. Symptoms of this condition fester on a political as well as theoretical plane, and can be located in a normative vacillation which impedes the discipline from distinguishing between spectacular forms of bordering that only serve to reproduce the repressive function of borders (e.g., Us/Them), and those that might point towards alternative roles for bordering practices that are more transductive and mediatory of socio-spatial relations. Proceeding along a road less travelled, this essay proposes to explore the latter option by rethinking the geo-historical relation between Europe and Latin America, conceived as the evolution of a “lettered border”. Inspired by the work of Ángel Rama, the author reveals a process of ceaseless comparative bordering, with origins in the very first colonial treaties and maps between European powers, whose postcolonial echoes continue to resonate in an internal/external border dialectic between both continents. By way of a border and transatlantic “rhythmanalyse”, the article concludes by proposing another way of seeing the borders of Europe and Latin America, viewed not so much as lines separating strongly differentiated geopolitical entities, but as horizons that demarcate a co-produced and shared modernity.

Improving homogeneity of ultrafine-grained/nanostructured materials produced by ECAP using a bevel-edge punch

A new geometrical parameter, lambda (λ) angle, was introduced in the equal-channel angular pressing (ECAP) process. The clockwise angle between the theoretical shear plane and the punch/billet interface was defined as λ. Microhardness homogeneity was increased employing λ = 90° compared to the conventional technique with the horizontal punch tip (λ = 45°). The main reason was reducing the width of the plastic deformation zone (PDZ) and occurring the deformation in the immediate vicinity of the shear plane. The imposed shear strain became uniform by decreasing the width of PDZ, leading to homogeneous microstructure and properties. In addition, microstructural assessment showed that the second phase particles and constitutive elements were uniformly distributed in case of λ = 90°. More uniform microstructure was also achieved in this case. Furthermore, tensile tests showed that ductility of the billets after one and two ECAP passes using λ = 90° was increased by around 36 and 21 %, respectively.