|Commenced in January 2007||Frequency: Monthly||Edition: International||Paper Count: 4|
This research attempts to investigate the effects of heteroscedasticity and periodicity in a Panel Data Regression Model (PDRM) by extending previous works on balanced panel data estimation within the context of fitting PDRM for Banks audit fee. The estimation of such model was achieved through the derivation of Joint Lagrange Multiplier (LM) test for homoscedasticity and zero-serial correlation, a conditional LM test for zero serial correlation given heteroscedasticity of varying degrees as well as conditional LM test for homoscedasticity given first order positive serial correlation via a two-way error component model. Monte Carlo simulations were carried out for 81 different variations, of which its design assumed a uniform distribution under a linear heteroscedasticity function. Each of the variation was iterated 1000 times and the assessment of the three estimators considered are based on Variance, Absolute bias (ABIAS), Mean square error (MSE) and the Root Mean Square (RMSE) of parameters estimates. Eighteen different models at different specified conditions were fitted, and the best-fitted model is that of within estimator when heteroscedasticity is severe at either zero or positive serial correlation value. LM test results showed that the tests have good size and power as all the three tests are significant at 5% for the specified linear form of heteroscedasticity function which established the facts that Banks operations are severely heteroscedastic in nature with little or no periodicity effects.
The governing two-dimensional equations of a heterogeneous material composed of a fluid (allowed to flow in the absence of acoustic excitations) and a crystalline piezoelectric cubic solid stacked one-dimensionally (along the z direction) are derived and special emphasis is given to the discussion of acoustic group velocity for the structure as a function of the wavenumber component perpendicular to the stacking direction (being the x axis). Variations in physical parameters with y are neglected assuming infinite material homogeneity along the y direction and the flow velocity is assumed to be directed along the x direction. In the first part of the paper, the governing set of differential equations are derived as well as the imposed boundary conditions. Solutions are provided using Hamilton-s equations for the wavenumber vs. frequency as a function of the number and thickness of solid layers and fluid layers in cases with and without flow (also the case of a position-dependent flow in the fluid layer is considered). In the first part of the paper, emphasis is given to the small-frequency case. Boundary conditions at the bottom and top parts of the full structure are left unspecified in the general solution but examples are provided for the case where these are subject to rigid-wall conditions (Neumann boundary conditions in the acoustic pressure). In the second part of the paper, emphasis is given to the general case of larger frequencies and wavenumber-frequency bandstructure formation. A wavenumber condition for an arbitrary set of consecutive solid and fluid layers, involving four propagating waves in each solid region, is obtained again using the monodromy matrix method. Case examples are finally discussed.