Credit risk assessment: a challenge for financial institutions

^** E-mail: vangeli3{at}eaee.gr This study explores financial credit risk assessment. This isan important issue because there is currently no standardizedmethod used by financial institutions for the assessment ofcredit risk. A critical evaluation of the most popular creditrisk assessment methods—the judgmental method, credit-scoringand portfolio models—highlights a number of limitationswhen used on their own. Several interviewees confirm that creditrisk assessment methods should be combined for effective creditrisk assessment. Accordingly, the study proposes a frameworkfor improving credit risk assessment, which combines the strengthsof these methods and copes successfully with their limitations.     

Active stereo sound localization

Estimating the direction of arrival of sound in three-dimensional space is typically performed by generalized time-delay processing on a set of signals from a fixed array of omnidirectional microphones. This requires specialized multichannel A/D hardware, and careful arrangement of the microphones into an array. This work is motivated by the desire to instead only use standard two-channel audio A/D hardware and portable equipment. To estimate direction of arrival of persistent sound, the position of the microphones is made variable by mounting them on one or more computer-controlled pan-and-tilt units. In this paper, we describe the signal processing and control algorithm of a device with two omnidirectional microphones on a fixed baseline and two rotational degrees of freedom. Experimental results with real data are reported with both impulsive and speech sounds in an untreated, normally reverberant indoor environment.     

Inference of a minimum size boolean function from examples by using a new efficient branch-and-bound approach

This paper deals with the problem of identifying a hidden Boolean function : 0, 1' 0, 1 from positive and negative examples. This problem is of paramount importance in many real life applications of artificial intelligence. The method proposed in this paper is based on a branch-and-bound approach. This approach is an expansion of some earlier work (Triantaphyllouet al., 1994). Computational results, comparing the new method with one based on Karmakar's interior point method, suggest that the new method is very efficient.     

The assessment of user-perceived web quality: Application of a satisfaction benchmarking approach

The assessment of website quality is considered as a problem of measuring user satisfaction, in order to analyse user perceptions and preferences. The presented pilot user satisfaction survey concerns the major cellular phone service providers in Greece. The analysis is based on a multicriteria preference disaggregation approach for satisfaction benchmarking analysis and consists of the following parts: (1) the user satisfaction analysis, which concerns the identification of customer preferences and includes the estimation of the relative importance and the demanding level of the different user satisfaction dimensions, and (2) the satisfaction benchmarking analysis, which is mainly focused on the performance evaluation of the competitive organisations against the satisfaction criteria, as well as the identification of the competitive advantages of each company. The results presented in this paper demonstrate how business organisations may locate their position against competition, pinpoint their weak points and determine which website characteristics will improve their global performance.     

Are Real-Time Displays of Benefit in the Singing Studio? An Exploratory Study

This article reports on an exploratory research project to evaluate the usefulness or otherwise of real-time visual feedback in the singing studio. The primary purpose of the work was not to optimize the technology for this application, but to work alongside teachers and students to study the impact of real-time visual feedback technology use on the students' learning experiences. An action research methodology was used to explore the benefit of real-time displays over an extended period. The experimental phase of the work was guided by a Liaison Panel of teachers and academics in the areas of singing, pedagogy, voice science, speech therapy, and linguistic science. Qualitative data were collected from eight students working with two professional singing teachers. The teachers and students acted as co-researchers under the action research paradigm. Teachers and students alike kept journals of their teaching and learning experiences. Singing lessons were observed regularly by the research team, coded for teacher and student behaviors, and all co-researchers were interviewed at the mid- and endpoint of the project. The use of technology had a positive impact on the learning process, and this is evidenced through case study data.     

Acoustic positioning using multiple microphone arrays

Passive acoustic techniques are presented to solve the localization problem of a sound source in three-dimensional space using off-the-shelf hardware. Multiple microphone arrays are employed, which operate independently, in estimating the direction of arrival of sound, or, equivalently, a direction vector from the array's geometric center towards the source. Direction vectors and array centers are communicated to a central processor, where the source is localized by finding the intersection of the direction lines defined by the direction vectors and the associated array centers. The performance of the method in the air is demonstrated experimentally and compared with a state-of-the-art method that requires centralized digitization of the signals from the microphones of all the arrays.     

Control of indirect exciton population in an asymmetric quantum dot molecule

We analyze the problem of coherent population transfer to the indirect exciton state in an asymmetric double semiconductor quantum dot molecule that interacts with an external electromagnetic field. Using the controlled rotation method, we obtain analytical solutions of the time-dependent Schrödinger equation and determine closed-form conditions for the parameters of the applied field and the quantum system that lead to complete population transfer to the indirect exciton state, in the absence of decay effects. Then, by numerical solution of the relevant density matrix equations we study the influence of decay mechanisms to the efficiency of population transfer.     

The 4-aminoantipyrine Method Revisited: Determination of Trace Phenols by Micellar Assisted Preconcentration

The traditional method for phenol analysis based on the oxidizing coupling of 4-aminoantipyrine (4-APP) with phenol in alkaline solution is re-evaluated in this study in combination with micellar assisted preconcentration (cloud point extraction). The method employs the conventional reaction pathway while extraction is facilitated by surfactant based precipitation, during which the nonpolar derivative of 4-AAP-phenol is entrapped in the micelles and concentrated into a surfactant-rich phase. The latter is the re-solubilized and the complex is quantified spectrophotometrically in the presence of a surfactant. Compared to the traditional method the modification proposed offers certain analytical advantages like massive analysis of many samples, lower detection limits and shorter time of analysis. The method was applied in various samples of different origin with satisfactory results.