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Sample records for low-strength compression stockings

  1. Focus on Compression Stockings

    Science.gov (United States)

    ... the stocking every other day with a mild soap. Do not use Woolite™ detergent. Use warm water ... compression clothing will lose its elasticity and its effectiveness. Compression stockings last for about 4-6 months ...

  2. Compression Stockings for Treating Venous Leg Ulcers

    Directory of Open Access Journals (Sweden)

    J. P. Benigni

    2013-01-01

    Full Text Available Background. In order to treat venous leg ulcers, it is recommended to use high pressure compression (30–40 mmHg at the ankle. Compression stockings which are not operator dependant could be the best option because of their pressure control. However 30–40 mmHg compression stockings are often hard to put on. Putting two lower pressure compression stockings over each other could be a good therapeutic alternative. Objectives. To compare the in vitro pressures given by the manufacturers of 2 antiulcer kits with the in vivo interface pressures measured in healthy subjects and to evaluate the stiffness and friction indices from those kits based on the interface pressure in order to assess their clinical properties. Material and Methods. Using a Kikuhime pressure device, interface pressure was measured in 12 healthy subjects at the reference point B1. One stiffness index (Static Stiffness Index (SSI and a friction index have been calculated. Results. Mediven Ulcer kit gets the recommended pressures whereas Jobst’s Ulcer Care kit does not for treating a venous leg ulcer. Jobst’s Ulcer Care transmits entirely the pressure in relation to a friction index close to 1. Conclusion. This antiulcer kit study underlines that in vivo and in vitro pressures can be different (Jobst’s Ulcer Care kit and Mediven Ulcer kit. In order not to lose pressure, it is important to take into account the friction index when superimposing two stockings.

  3. [Allergic contact dermatitis to synthetic rubber, neoprene in compression stockings].

    Science.gov (United States)

    Mizuno, Ju; In-Nami, Hiroshi

    2011-01-01

    Compression stockings are used for patients under general anesthesia to prevent occurrence of deep venous thrombosis. We report a case of allergic contact dermatitis to synthetic rubber, neoprene in compression stockings. A 53-year-old house wife had a history of sensitivity like skin eruption and disstasis to rubber products such as rubber band. Left nephrectomy for rupture of renal angiomyolipoma was scheduled under general and epidural anesthesia. Further examination for gum allergy was not performed before the operation, although latex allergy was suspected. The operation was performed uneventfully under latex-safe environment in the operating room under guideline for latex allergy. Postoperatively, ringed edematous erythema and wheal occurred in her bilateral thighs compressed with the upper part of compression stockings. The skin symptoms continued for more than four days. After disappearance of the skin symptoms, she was discharged from the hospital on the ninth day after the operation. Synthetic rubber, neoprene, in the upper part of compression stockings to prevent slipping down might cause allergic contact dermatitis. We should take care of occurrence of allergic contact dermatitis to synthetic rubber, neoprene in compression stockings in patients with rubber allergy.

  4. Effects of graduated compression stockings on skin temperature after running.

    Science.gov (United States)

    Priego Quesada, J I; Lucas-Cuevas, A G; Gil-Calvo, M; Giménez, J V; Aparicio, I; Cibrián Ortiz de Anda, R M; Salvador Palmer, R; Llana-Belloch, S; Pérez-Soriano, P

    2015-08-01

    High skin temperatures reduce the thermal gradient between the core and the skin and they can lead to a reduction in performance and increased risk of injury. Graduated compression stockings have become popular among runners in the last years and their use may influence the athlete's thermoregulation. The aim of this study was to investigate the effects of graduated compression stockings on skin temperature during running in a moderate indoor environment. Forty-four runners performed two running tests lasting 30min (10min of warm-up and 20min at 75% of their maximal aerobic speed) with and without graduated compressive stockings. Skin temperature was measured in 12 regions of interest on the lower limb by infrared thermography before and after running. Heart rate and perception of fatigue were assessed during the last minute of the running test. Compression stockings resulted in greater increase of temperature (p=0.002 and ES=2.2, 95% CI [0.11-0.45°C]) not only in the body regions in contact (tibialis anterior, ankle anterior and gastrocnemius) but also in the body regions that were not in contact with the garment (vastus lateralis, abductor and semitendinosus). No differences were observed between conditions in heart rate and perception of fatigue (p>0.05 and ESrunning with graduated compression stockings produces a greater increase of skin temperature without modifying the athlete's heart rate and perception of fatigue. Copyright © 2015 Elsevier Ltd. All rights reserved.

  5. Can Graduated Compressive Stockings Reduce Muscle Activity during Running?

    Science.gov (United States)

    Lucas-Cuevas, Ángel Gabriel; Priego Quesada, José Ignacio; Giménez, José Vicente; Aparicio, Inmaculada; Cortell-Tormo, Juan Manuel; Pérez-Soriano, Pedro

    2017-01-01

    Purpose: Graduated compressive stockings (GCS) have been suggested to influence performance by reducing muscle oscillations and improving muscle function and efficiency. However, no study to date has analyzed the influence of GCS on muscle activity during running. The objective of the study was to analyze the influence of GCS on the perception of…

  6. Characterization of stock market regimes by data compression

    Science.gov (United States)

    Vogel, Eugenio E.; Saravia, Gonzalo

    2011-03-01

    It has been shown that data compression can characterize magnetic phases (Physica A 388 (2009) 4075). In the introduction of this presentation we briefly review this result. We then go onto introducing a new data compressor (wlzip) developed by us to optimize recognition of meaningful patterns in the compressing procedure, yielding sharp transition curves at the magnetic critical temperatures. The advantages of the new compressor, such as better definition and tuning capabilities are presented. The rest of the talk consists of applying wlzip to the Chilean stock market along several months during 2010. The accumulated daily data allow to recognizing days with different types of activity. Moreover, the data recorded every minute allow to analyzing the ``present'' status of the stock market by applying wlzip to the data of the last hour or couple of hours. Possible extensions of the application of this technique to other fields are discussed. Partial support from Fondecyt 1100156, ICM and CEDENNA is acknowledged.

  7. Inelastic compression legging produces gradient compression and significantly higher skin surface pressures compared with an elastic compression stocking.

    Science.gov (United States)

    Kline, Cassie N; Macias, Brandon R; Kraus, Emily; Neuschwander, Timothy B; Angle, Niren; Bergan, John; Hargens, Alan R

    2008-01-01

    The purposes of this study were to (1) investigate compression levels beneath an inelastic legging equipped with a new pressure-adjustment system, (2) compare the inelastic compression levels with those provided by a well-known elastic stocking, and (3) evaluate each support's gradient compression production. Eighteen subjects without venous reflux and 12 patients with previously documented venous reflux received elastic and inelastic compression supports sized for the individual. Skin surface pressures under the elastic (Sigvaris 500, 30-40 mm Hg range, Sigvaris, Inc., Peachtree City, GA) and inelastic (CircAid C3 with Built-in-Pressure System [BPS], CircAid Medical Products, San Diego, CA) supports were measured using a calibrated Tekscan I-Scan device (Tekscan, Inc., Boston, MA). The elastic stocking produced significantly lower skin surface pressures than the inelastic legging. Mean pressures (+/- standard error) beneath the elastic stocking were 26 +/- 2 and 23 +/- 1 mm Hg at the ankle and below-knee regions, respectively. Mean pressures (+/- standard error) beneath the inelastic legging with the BPS were 50 +/- 3 and 38 +/- 2 mm Hg at the ankle and below-knee regions, respectively. Importantly, our study indicates that only the inelastic legging with the BPS produces significant ankle to knee gradient compression (p = .001).

  8. Do ready-made compression stockings fit the anatomy of the venous leg ulcer patient?

    DEFF Research Database (Denmark)

    Nørregaard, S; Bermark, S; Gottrup, F

    2014-01-01

    OBJECTIVE: How usable two standardised measuring methods are for the selection of three different brands of ready-made below-knee compression stockings. Furthermore, this study aims to determine how many of the included patients fit into a ready-made compression stocking in a limited selection...... of brands. METHOD: Consecutive patients suffering from venous insufficiency and treated at a specialised wound healing centre were included in this prospective comparative study. Two standardised measuring methods were used to evaluate the suitability of three different brands of ready-made below knee...... compression stockings. The circumference was measured at three points and seven points below the knee. The results of these measurements were compared to three selected brands of ready-made compression stockings. RESULTS: Together, 43 consecutive patients (25 men and 18 women) were included in the study. When...

  9. Graduated compression stockings in the prevention of deep vein thrombosis in patients with acute myocardial infarction.

    Science.gov (United States)

    Kierkegaard, A; Norgren, L

    1993-10-01

    Venous volume (venous capacity) of the calf is low in patients with acute myocardial infarction, who also have a high risk of deep vein thrombosis (DVT). The effect of graduated compression stockings on the venous volume and on the incidence of DVT was therefore studied in 80 patients aged 70 years and above with acute myocardial infarction. Graduated compression stockings were randomly fitted to one leg, the other serving as a control, after which the venous volume was measured by strain gauge plethysmography. The incidence of DVT was measured by the 125I fibrinogen uptake test. Venous volume was significantly higher in legs treated with graduated compression stockings compared to control legs. DVT developed in eight control legs but not in any leg treated with graduated compression stockings (P = 0.003). DVT was also significantly more frequent in women compared to men and the majority of DVT developed in legs with very low venous volume values.

  10. Treatment by medical compression stockings among 144 consecutive patients with non-complicated primary varicose veins: results on compliance.

    Science.gov (United States)

    Rastel, D

    2014-12-01

    Compression stockings are the major long-term treatment of non-complicated primary varicose veins recommended by international consensus. Nevertheless there are few data concerning the patient compliance to treatment. Hundred and forty-four patients with varicose veins of primary origin were prospectively recruited and questioned about their compression therapy: 29.2% patients are wearing compression stockings, and for 10.4% on a daily basis; 32.6% do not wear their compression mainly because it is not well tolerated; 38.2% do not have compression treatment because it is not recommended or not prescribed by the physician.

  11. Single stock dynamics on high-frequency data: from a compressed coding perspective.

    Directory of Open Access Journals (Sweden)

    Hsieh Fushing

    Full Text Available High-frequency return, trading volume and transaction number are digitally coded via a nonparametric computing algorithm, called hierarchical factor segmentation (HFS, and then are coupled together to reveal a single stock dynamics without global state-space structural assumptions. The base-8 digital coding sequence, which is capable of revealing contrasting aggregation against sparsity of extreme events, is further compressed into a shortened sequence of state transitions. This compressed digital code sequence vividly demonstrates that the aggregation of large absolute returns is the primary driving force for stimulating both the aggregations of large trading volumes and transaction numbers. The state of system-wise synchrony is manifested with very frequent recurrence in the stock dynamics. And this data-driven dynamic mechanism is seen to correspondingly vary as the global market transiting in and out of contraction-expansion cycles. These results not only elaborate the stock dynamics of interest to a fuller extent, but also contradict some classical theories in finance. Overall this version of stock dynamics is potentially more coherent and realistic, especially when the current financial market is increasingly powered by high-frequency trading via computer algorithms, rather than by individual investors.

  12. Single stock dynamics on high-frequency data: from a compressed coding perspective.

    Science.gov (United States)

    Fushing, Hsieh; Chen, Shu-Chun; Hwang, Chii-Ruey

    2014-01-01

    High-frequency return, trading volume and transaction number are digitally coded via a nonparametric computing algorithm, called hierarchical factor segmentation (HFS), and then are coupled together to reveal a single stock dynamics without global state-space structural assumptions. The base-8 digital coding sequence, which is capable of revealing contrasting aggregation against sparsity of extreme events, is further compressed into a shortened sequence of state transitions. This compressed digital code sequence vividly demonstrates that the aggregation of large absolute returns is the primary driving force for stimulating both the aggregations of large trading volumes and transaction numbers. The state of system-wise synchrony is manifested with very frequent recurrence in the stock dynamics. And this data-driven dynamic mechanism is seen to correspondingly vary as the global market transiting in and out of contraction-expansion cycles. These results not only elaborate the stock dynamics of interest to a fuller extent, but also contradict some classical theories in finance. Overall this version of stock dynamics is potentially more coherent and realistic, especially when the current financial market is increasingly powered by high-frequency trading via computer algorithms, rather than by individual investors.

  13. Long-term effects of graduated compression stockings on cardiorespiratory performance

    Directory of Open Access Journals (Sweden)

    JI Priego

    2015-09-01

    Full Text Available The use of graduated compression stockings (GCS in sport has been increasing in the last years due to their potential positive effects for athletes. However, there is little evidence to support whether these types of garments actually improve cardiorespiratory performance. The aim of this study was to examine the cardiorespiratory responses of GCS during running after three weeks of regular use. Twenty recreational runners performed three tests on different days: test 1 – a 5-min maximal effort run in order to determine the participants’ maximal aerobic speed; and tests 2 and 3 – a fatigue running test of 30 minutes at 80% of their maximal aerobic speed with either GCS or PLACEBO stockings at random. Cardiorespiratory parameters (minute ventilation, heart rate, relative oxygen consumption, relative carbon dioxide production, ventilatory equivalents for oxygen and carbon dioxide, and oxygen pulse were measured. Before each test in the laboratory, the participants trained with the randomly assigned stockings (GCS or PLACEBO for three weeks. No significant differences between GCS and PLACEBO were found in any of the cardiorespiratory parameters. In conclusion, the present study provides evidence that running with GCS for three weeks does not influence cardiorespiratory parameters in recreational runners.

  14. Comparison of Efficacy Compressive Stockings with Heparin in Prevention of Deep Vein Thrombosis in Stroke Patients

    Directory of Open Access Journals (Sweden)

    Nastaran Majdi-Nasab

    2013-04-01

    Full Text Available Background: The present study is carried out to make a comparison between two pharmacological (heparin and physical (compression stockings in the prevention of deep vein thrombosis in lower limb of the patients suffered from acute stroke. Materials and Methods: In this investigation as a clinical trial, the effectiveness of the above methods on 100 patients with the stroke was compared in two groups of 50 persons. Results: Three patients in physical group and two patients in pharmacological group got deep vein thrombosis that showed no significant difference between two groups.Conclusion: In spite of no significant relationship and due to less incurrence of thrombosis in heparin group, it is more reasonable to use pharmacological methods.

  15. Prevention of thromboembolism following elective hip surgery. The value of regional anesthesia and graded compression stockings

    DEFF Research Database (Denmark)

    Wille-Jørgensen, P; Christensen, S W; Bjerg-Nielsen, A

    1989-01-01

    Ninety-eight patients scheduled for elective hip arthroplasty receiving either general or regional anesthesia and graded compression stockings as the only thromboprophylactic treatment were screened for postoperative deep-venous thrombosis with 99mTc-plasmin scintimetry. The diagnosis of deep......-venous thrombosis was established by phlebography and the diagnosis of pulmonary embolism by pulmonary perfusion and ventilation scintigraphy. Of 65 patients surgically treated under general anesthesia, 20 (31%) developed deep-venous thrombosis and six developed pulmonary embolism. Of 33 patients surgically treated...... using regional anesthesia, three (9%) developed deep-venous thrombosis and one developed a pulmonary embolus. The number of patients developing deep-venous thrombosis was significantly lower in the group receiving regional anesthesia compared with the group receiving general anesthesia. The results...

  16. Graduated compression stockings to treat acute leg pain associated with proximal DVT. A randomised controlled trial.

    Science.gov (United States)

    Kahn, S R; Shapiro, S; Ducruet, T; Wells, P S; Rodger, M A; Kovacs, M J; Anderson, D; Tagalakis, V; Morrison, D R; Solymoss, S; Miron, M-J; Yeo, E; Smith, R; Schulman, S; Kassis, J; Kearon, C; Chagnon, I; Wong, T; Demers, C; Hanmiah, R; Kaatz, S; Selby, R; Rathbun, S; Desmarais, S; Opatrny, L; Ortel, T L; Galanaud, J-P; Ginsberg, J S

    2014-12-01

    Acute deep venous thrombosis (DVT) causes leg pain. Elastic compression stockings (ECS) have potential to relieve DVT-related leg pain by diminishing the diameter of distended veins and increasing venous blood flow. It was our objective to determine whether ECS reduce leg pain in patients with acute DVT. We performed a secondary analysis of the SOX Trial, a multicentre randomised placebo controlled trial of active ECS versus placebo ECS to prevent the post-thrombotic syndrome.The study was performed in 24 hospital centres in Canada and the U.S. and included 803 patients with a first episode of acute proximal DVT. Patients were randomised to receive active ECS (knee length, 30-40 mm Hg graduated pressure) or placebo ECS (manufactured to look identical to active ECS, but lacking therapeutic compression). Study outcome was leg pain severity assessed on an 11-point numerical pain rating scale (0, no pain; 10, worst possible pain) at baseline, 14, 30 and 60 days after randomisation. Mean age was 55 years and 60% were male. In active ECS patients (n=409), mean (SD) pain severity at baseline and at 60 days were 5.18 (3.29) and 1.39 (2.19), respectively, and in placebo ECS patients (n=394) were 5.38 (3.29) and 1.13 (1.86), respectively. There were no significant differences in pain scores between groups at any assessment point, and no evidence for subgroup interaction by age, sex or anatomical extent of DVT. Results were similar in an analysis restricted to patients who reported wearing stockings every day. In conclusion, ECS do not reduce leg pain in patients with acute proximal DVT.

  17. Comparison of knee-high Mediven ulcer kit and Mediven Plus compression stockings: measurement of leg volume, interface pressure and static stiffness index changes

    Directory of Open Access Journals (Sweden)

    Győző Szolnoky

    2013-06-01

    Full Text Available Ulcer stockings are produced to have higher interface pressure and easier application compared to those of classic medical compression stockings. We aimed to compare volume decrease, pressure loss and stiffness index of a classical medical compression stocking and an ulcer stocking of the same interface pressure range in 10 patients with bilateral venous and 10 persons with lymphatic insufficiency. Interface pressure measurement in supine and standing positions and optoelectronic volumetry served for primary outcome variables. Both stockings were capable of inducing remarkable gradual volume reductions in different time points except classic stocking at 2 h in phleboedema care. Ulcer stocking pressures in lymph- and phleboedema were highly superior. In lymphedema a gradual interface pressure loss was attributed to both stockings regardless of body positions. Static stiffness indices did not differ statistically except classic stocking at baseline (P=0.0312 and 2 h (P=0.0082 comprising venous edema patients. Both stockings acted similarly but ulcer stocking had considerably higher interface pressures in each measurement and raised stiffness indices initially and the two-layer system facilitates donning therefore ulcer stocking could serve an alternative of classic medical compression stocking even in the treatment of leg edema.

  18. Current prescribing patterns of elastic compression stockings post-deep venous thrombosis.

    LENUS (Irish Health Repository)

    Roche-Nagle, G

    2012-02-01

    OBJECTIVES: Post-thrombotic syndrome (PTS) is a complication of deep vein thrombosis (DVT) characterized by chronic pain, swelling and heaviness, and may result in ulceration. Elastic compression stockings (ECS) worn daily after DVT appear to reduce the incidence and severity of PTS. The aims of our study were to investigate practices and perceptions of DVT patients and physicians regarding the use of ECS after DVT. METHODS: Two surveys were conducted. The first was sent to 225 staff and trainee clinicians and the second was administered to 150 DVT patients. RESULTS: The results demonstrated that the majority of senior staff (75%) believed that ECS were effective in preventing PTS and in managing venous symptoms. However, this was in contrast with junior trainees (21%) (P < 0.05). This resulted in only 63% of patients being prescribed ECS post-DVT. There was a lack of consensus as regards the optimal timing of initiation of ECS, duration of therapy and compression strength. Nearly all DVT patients who were prescribed ECS purchased them, 74% wore them daily, and most (61%) reported that ECS relieved swelling and symptoms. Physicians correctly predicted the main reasons for non-compliance, but misjudged the scale of patient compliance with ECS. CONCLUSIONS: Our findings suggest that there is a lack of consensus among doctors regarding ECS use after DVT and widespread education regarding the latest evidence of the benefit of ECS after DVT.

  19. A randomized crossover trial on the effect of compression stockings on nausea and vomiting in early pregnancy.

    Science.gov (United States)

    Mendoza, Erika; Amsler, Felix

    2017-01-01

    This study aimed to assess the impact of wearing compression stockings on women's quality of life (QoL) associated with nausea and vomiting in early pregnancy (NVP). In this randomized, open, single-center, crossover study, 74 women were assigned 1:1 to 2 weeks with compression stockings followed by 2 weeks without or vice versa. The main outcomes were NVP-associated QoL, leg-related QoL, and dizziness, as assessed by the Nausea and Vomiting in Pregnancy Quality of Life (NVPQOL) questionnaire, Chronic Venous Disease Quality of Life (CIVIQ) questionnaire, and questions on dizziness at baseline and after each 2-week period, respectively. Daily NVP was assessed using the modified Pregnancy-Unique Quantification of Emesis and Nausea (PUQE) questionnaire. Data were analyzed using Pearson's chi-square and independent t-tests. Fifty-eight women completed the study. QoL scores improved with compression treatment; changes in mean total scores were as follows: NVPQOL, -36.7 with compression vs -21.7 without (P<0.0001); and CIVIQ, -4.5 with compression vs +1.4 without (P=0.001). Mean dizziness scores were -3.2 with compression vs -0.4 without (P<0.0001). PUQE mean total score (standard deviation) was 4.9 (2.3) with compression vs 5.5 (2.2) without (P=0.042). Wearing of compression stockings in early pregnancy may improve nausea and vomiting-associated symptoms in addition to improving QoL factors.

  20. 低强度砂浆灌孔砌块砌体抗压性能试验研究%EXPERIMENTAL RESEARCH ON COMPRESSIVE BEHAVIORS OF GROUTED BLOCK MASONRY WITH LOW-STRENGTH MORTAR

    Institute of Scientific and Technical Information of China (English)

    黄靓; 王辉; 陈胜云

    2012-01-01

    In order to study the effect of mortar strength on compressive behaviors of grouted concrete masonry,nine specimens using lime mortar were analyzed.According to failure pattern,cracking load,ultimate capacity and deformation capacity,a formula was provided to calculate the compressive capacity of grouted concrete masonry when the mortar strength is very low.The ratio of cracking load to ultimate load is very small,which affects the durability of masonry building.Therefore,this paper states that the mortar strength should be higher than a critical value when designing and constructing grouted concrete masonry.%为了研究低强度砂浆对灌孔砌块砌体抗压性能的影响,该文通过9个采用石灰砂浆砌筑的灌孔砌块砌体的抗压试验,对其抗压破坏形态、开裂荷载、极限荷载及变形能力进行了分析,提出了适用于砂浆强度很低的灌孔砌块砌体的抗压强度计算公式。分析表明:低强度砂浆砌块砌体的初裂荷载与极限荷载之比较小,而开裂荷载过低将会对砌体房屋的耐久性产生不利影响,因此,该文认为在进行灌孔砌块砌体的设计和施工时,砂浆的强度应得到保证,不能过低。

  1. No evidence of benefit from class-II compression stockings in the prevention of lower-limb lymphedema after inguinal lymph node dissection: results of a randomized controlled trial

    NARCIS (Netherlands)

    Stuiver, M.M.; de Rooij, J.D.; Lucas, C.; Nieweg, O.E.; Horenblas, S.; van Geel, A.N.; van Beurden, M.; Aaronson, N.K.

    2013-01-01

    Graduated compression stockings havebeen advocated for prevention of lymphedemaafter inguinal lymph node dissection (ILND) although scientific evidence of their efficacyin preventing lymphedema is lacking. Theprimary objective of this study was to assessthe efficacy of class II compression

  2. Assessment of Methods for Development of Confinement Model of Low Strength Reinforced Concrete Columns: A Review

    Directory of Open Access Journals (Sweden)

    Asif Ali

    2016-10-01

    Full Text Available Reinforced Concrete is composed of concrete and steel, where compressive strength of concrete and tensile strength of steel are utilized to achieve the required member strength. The high tensile property of steel is thus used to confine and increase compressive strength and ductility of RC columns. Confined concrete is defined as concrete that is restrained laterally by any internal or external means i.e. reinforcement consisting of steel stirrups or spirals, Fiber Reinforced Polymer (FRP, Circular Concrete Filled Steel Tube, RC shell jacketing etc. An appropriate amount of confinement increases the strength, ductility and energy dissipation capacity of RC members. This paper focuses on finding out strength and ductility enhancement of low strength RC columns by reinforcement using existing confinement models. Confinement models are stress-strain curves developed for concrete compression member under uniaxial or dynamic loading, confined with transverse reinforcement. Different models along with their experimental validations are discussed in this paper to get state of the art knowledge of confinement studies possible for low strength concrete. The models recommended from this study are used to evaluate existing structures made with low strength concrete

  3. Etude m\\'ecanique des articles de contention et de leurs effets sur la jambe humaine. Mechanical investigation of compression stockings and of their effects on the human leg

    CERN Document Server

    Avril, Stéphane; Bouten, L; Serge, Couzan; 10.1051/meca/2009026

    2009-01-01

    This paper presents a synthesis of different studies willing to bring a scientific insight into leg compression, which is the process of applying external compression forces onto the human leg with stockings or socks, for enhancing the venous flow. It seems obvious that the pressure distribution on the leg affects the blood flow in the veins. However, the pressure distribution that leads to the optimal blood flow is not trivial, and it is different with regard to the application: medical treatment or recovering after an effort in sports. In order to improve the scientific knowledge about this topic, a numerical 2D model was set up for computing stress fields inside the leg, accounting for the actual material properties of both the compression stocking and of the leg biological tissues. Suitable identification methods, based either on model updating from digital image correlation (for the compression stockings), or on image warping and model updating from MRI scans (for the internal leg tissues), were develope...

  4. Long-wave infrared radiation reflected by compression stockings in the treatment of cellulite: a clinical double-blind, randomized and controlled study.

    Science.gov (United States)

    Bagatin, E; Miot, H A; Soares, J L M; Sanudo, A; Afonso, J P J M; de Barros Junior, N; Talarico, S

    2013-10-01

    Cellulite refers to changes in skin relief on the thighs and buttocks of women, with a prevalence of 80-90%, causing dissatisfaction and search for treatment. Etiopathogenesis is multifactorial, as follows: herniation of the hypodermis towards the dermis, facilitated by perpendicular fibrous septa, changes in the dermal extracellular matrix, decreased adiponectin, genetic polymorphism, microcirculation alterations and inflammatory process. There are numerous therapeutic approaches, with little evidence of effectiveness. The long-wave infrared (LWIR) radiation interacts with water, improves microcirculation and stimulates metabolic processes. To date, the use of tissues with potential reflection of LWIR radiation has not been systematically investigated as adjuvant treatment for cellulite. To investigate the efficacy and safety of the treatment of cellulite through the use of compression stockings made with thread reflecting LWIR radiation. Clinical study of therapeutic intervention, controlled and double-blind, including 30 women, aging from 25 to 40 years, with cellulite of grades II and III on the thighs and buttocks who used compression stockings, "pantyhose" model, made with reflector thread of LWIR radiation, on only one randomized side. Women under other treatments for cellulite and with venous and/or blood insufficiencies were excluded. Evaluation of efficacy by clinical parameters, photographs, Dermatology Life Quality Index (DLQI), cutometry and high frequency ultrasonography and security by observation of adverse events and venous EcoDoppler recordings. DLQI scores showed significant reduction; the two-dimensional high-frequency ultrasonography showed an insignificant increase in dermal echogenicity as well as other efficacy parameters demonstrated no or slight improvement, with no differences between the sides exposed or not to LWIR; and there were no severe adverse events. Compression stockings, with or without thread reflector of LWIR, showed slight

  5. The anaerobic treatment of low strength soluble wastewaters.

    NARCIS (Netherlands)

    Kato, M.T.

    1994-01-01

    Low strength soluble wastewaters with chemical oxygen demand (COD) of less than 2000 mg/I are mostly from food processing industries. They commonly contain simple substrates such as short- chain fatty acids, alcohols and carbohydrates. The application of anaerobic technology has been mostly directed

  6. Etude mécanique des articles de contention et de leurs effets sur la jambe humaine. Mechanical investigation of compression stockings and of their effects on the human leg.

    OpenAIRE

    Avril, Stéphane; Drapier, Sylvain; Bouten, Laura; Couzan, Serge

    2009-01-01

    International audience; This paper presents a synthesis of different studies willing to bring a scientific insight into leg compression, which is the process of applying external compression forces onto the human leg with stockings or socks, for enhancing the venous flow. It seems obvious that the pressure distribution on the leg affects the blood flow in the veins. However, the pressure distribution that leads to the optimal blood flow is not trivial, and it is different with regard to the a...

  7. Experimental Study on Low-Strength Similar-Material Proportioning and Properties for Coal Mining

    Directory of Open Access Journals (Sweden)

    Shaojie Chen

    2015-01-01

    Full Text Available Similar-material simulation test is an effective tool to study the practical problems in mining and civil engineering. This paper conducts an orthogonal study on low-strength similar materials comprising sand, fly ash, and plaster and analyses the sensitivity of the materials. The mechanical properties of the similar materials strongly depend on the proportioning ratio, and they can satisfy different similar-material simulation tests. The compression strength and elastic modulus of the similar material decrease as the sand-binder ratio or cement ratio increases. There are approximately linear relations between the compression strength/elastic modulus and sand-binder ratio and approximately power relations between the compression strength/elastic modulus and sand-binder ratio. Sensitivity analysis employing the range method shows that the effects of the cement ratio on the compression strength and elastic modulus are more obvious than the effects of the sand-binder ratio. Finally, one of similar materials is used in a simulation test of coal backfill mining.

  8. Testing of High Thermal Cycling Stability of Low Strength Concrete as a Thermal Energy Storage Material

    Directory of Open Access Journals (Sweden)

    Chao Wu

    2016-09-01

    Full Text Available Concrete has the potential to become a solution for thermal energy storage (TES integrated in concentrating solar power (CSP systems due to its good thermal and mechanical properties and low cost of material. In this study, a low strength concrete (C20 is tested at high temperatures up to 600 °C. Specimens are thermally cycled at temperatures in the range of 400–300 °C, 500–300 °C, and 600–300 °C, which TES can reach in operation. For comparison, specimens also cycled at temperature in the range of 400–25 °C (room temperature, 500–25 °C, and 600–25 °C. It is found from the test results that cracks are not observed on the surfaces of concrete specimens until the temperature is elevated up to 500 °C. There is mechanical deterioration of concrete after exposure to high temperature, especially to high thermal cycles. The residual compressive strength of concrete after 10 thermal cycles between 600 °C and 300 °C is about 58.3%, but the specimens remain stable without spalling, indicating possible use of low strength concrete as a TES material.

  9. Use of Recycled Concrete Aggregate in Controlled Low-Strength Material (CLSM

    Directory of Open Access Journals (Sweden)

    Mustapha K.N.

    2012-01-01

    Full Text Available Use of recycled concrete aggregate (RCA is getting importance as it minimizes the use of fresh materials and eliminates waste disposal. One of the uses of RCA is as aggregate in Controlled Low Strength Material (CLSM. This paper reports the results of the investigation done on the use of RCA in CLSM. Various mixtures of CLSM were made using RCA, fly ash, and cement. Tests for workability, bleeding, density, strength, water absorption, sorption, and ultrasonic pulse velocity (UPV were conducted. Results show that the compressive strength ranged from 1.71 MPa to 4.92 MPa, fresh density from 1879 kg/m3 to 1998 kg/m3. The strength of CLSM increases with the increase in fly ash; water absorption and bleeding decrease with increase in fly ash. It is concluded that the RCA has potential to be used in CLSM and the addition of fly ash enhances the performance.

  10. Performance appraisal of industrial waste incineration bottom ash as controlled low-strength material.

    Science.gov (United States)

    Razak, Hashim Abdul; Naganathan, Sivakumar; Hamid, Siti Nadzriah Abdul

    2009-12-30

    Controlled low-strength material (CLSM) is slurry made by mixing sand, cement, ash, and water. It is primarily used as a replacement for soil and structural fillings. This paper presents the findings of a preliminary investigation carried out on the performance of industrial waste incineration bottom ash as CLSM. CLSM mixes were designed using industrial waste incineration bottom ash, and cement. Tests for density, setting time, bleed, and compressive strength on cubes under various curing conditions, corrosivity, and leaching of heavy metals and salts were carried out on the CLSM mixtures, and the results discussed. Compressive strength for the designed CLSM mixtures ranged from 0.1 to 1.7 MPa. It is shown that the variations in curing conditions have less influence on the compressive strength of CLSM at high values of water to cement ratio (w/c), but low values of w/c influences the strength of CLSM. The CLSM produced does not exhibit corrosive characters as evidenced by pH. Leaching of heavy metals and salts is higher in bleed than in leachate collected from hardened CLSM. Cement reduces the leaching of Boron in bleed. It is concluded that there is good potential for the use of industrial waste incineration bottom ash in CLSM.

  11. Production of Controlled Low Strength Material Utilizing Waste Paper Sludge Ash and Recycled Aggregate Concrete

    Directory of Open Access Journals (Sweden)

    Azmi A. N.

    2016-01-01

    Full Text Available Recently, the best method to make the concrete industry more sustainable was using the waste materials to replace the natural resources. Currently waste paper sludge is a major economic and environmental problem in this country. In this research, the alternative method is to dwindle the usage of natural resources and the usage of cement in the construction. This method is to replace the usage of cement with the waste paper sludge ash (WPSA and to use the recycle aggregate collected from the construction is used. The WPSA has ingredient likely cement such as self-cementation but for a low strength. The research was conducted at heavy laboratory UITM Pulau Pinang. Meanwhile, the WPSA is collected at MNI Industries at Mentakab, Pahang. The recycle aggregate is a separated half, which were fine aggregate and the coarse aggregate with the specific size. In this research, the ratio is divided into two (2 which is 1:1 and 1:2 for the aggregate and difference percentage levels of WPSA. The percentage levels of WPSA that use in this research are 10%, 20%, 30%, 40%, 50%, and 60%. A total of 36 cubes were prepared. Aim of this research is to develop a simple design approach for the mixture proportioning of WPSA and recycle concrete aggregate (RCA within the concrete and to assess the effect of concrete mix with different percentage of WPSA and RCA ratio on the properties. It is found that the best design mix that achieves control low strength material (CLSM is on 30% of WPSA with the ratio 1:2 on day 28 of compression test.

  12. Effectiveness of compression stockings to prevent the post-thrombotic syndrome (The SOX Trial and Bio-SOX biomarker substudy: a randomized controlled trial

    Directory of Open Access Journals (Sweden)

    Rodger Marc A

    2007-07-01

    Full Text Available Abstract Background Post thrombotic syndrome (PTS is a burdensome and costly complication of deep venous thrombosis (DVT that develops in 20–40% of patients within 1–2 years after symptomatic DVT. Affected patients have chronic leg pain and swelling and may develop ulcers. Venous valve disruption from the thrombus itself or thrombus-associated mediators of inflammation is considered to be a key initiating event for the development of venous hypertension that often underlies PTS. As existing treatments for PTS are extremely limited, strategies that focus on preventing the development of PTS in patients with DVT are more likely to be effective and cost-effective in reducing its burden. Elastic compression stockings (ECS could be helpful in preventing PTS; however, data on their effectiveness are scarce and conflicting. Methods/Design The SOX Trial is a randomized, allocation concealed, double-blind multicenter clinical trial. The objective of the study is to evaluate ECS to prevent PTS. A total of 800 patients with proximal DVT will be randomized to one of 2 treatment groups: ECS or placebo (inactive stockings worn on the DVT-affected leg daily for 2 years. The primary outcome is the incidence of PTS during follow-up. Secondary outcomes are severity of PTS, venous thromboembolism (VTE recurrence, death from VTE, quality of life and cost-effectiveness. Outcomes will be evaluated during 6 clinic visits and 2 telephone follow ups. At baseline, 1 and 6 months, blood samples will be obtained to evaluate the role of inflammatory mediators and genetic markers of thrombophilia in the development of PTS (Bio-SOX substudy. Discussion The SOX Trial will be the largest study and the first with a placebo control to evaluate the effectiveness of ECS to prevent PTS. It is designed to provide definitive data on the effects of ECS on the occurrence and severity of PTS, as well as DVT recurrence, cost-effectiveness and quality of life. This study will also

  13. Effect of compression stockings on physiological responses and running performance in division III collegiate cross-country runners during a maximal treadmill test.

    Science.gov (United States)

    Rider, Brian C; Coughlin, Adam M; Hew-Butler, Tamara D; Goslin, Brian R

    2014-06-01

    There is a growing trend for runners to use compression stockings (CS) to improve performance. The purpose of this study was to determine the effect of CS on physiological variables associated with running performance. Participants were 10 NCAA division III cross-country runners. The study used a randomized, crossover design with 2 conditions (with CS and without CS). Both conditions consisted of a maximal treadmill test that involved 3-minute stages of increasing speed and incline, separated by a minute and one-half walking recovery stage. Seven days later, the participants repeated the maximal test but switched CS condition. Heart rate, blood lactate (BLa), blood lactate threshold, maximal oxygen consumption (VO2max), respiratory exchange ratio, rating of perceived exertion, and time to fatigue were measured. Before and during the maximal treadmill tests, the variables showed no significant difference (p ≤ 0.05) between the CS conditions. Blood lactate was lower while wearing CS when measured during recovery at the 1-minute (CS = 13.3 ± 2.9 mmol · L(-1), non-CS = 14.8 ± 2.8 mmol · L(-1), p = 0.03) and the 5-minute (CS = 11.0 ± 2.7 mmol · L(-1), non-CS = 12.8 ± 2.8 mmol · L(-1), p = 0.02) periods. Time to fatigue was longer without CS (CS = 23.570 ± 2.39 minutes, non-CS = 23.93 ± 2.49 minutes, p = 0.04). These findings suggest that CS may not improve running performance, but could lend credence to certain manufacturers' claims of improved recovery through lower BLa values after exercise.

  14. Controlled Low Strength Material (CLSM) produced from limestone fines and other byproducts

    Science.gov (United States)

    Shah, Harsh

    Controlled Low Strength Material (CLSM) or flowable fill mixtures are typically specified and used in lieu of compacted fill especially for backfill, utility bedding, void fill and bridge approaches. This study developed flowable fill mixtures containing only quarry fines, fly ash, synthetic gypsum and water, for different applications without any cement or good quality aggregates, to reduce costs significantly. The study used by-products of two industries, quarry fines and fly ash, to produce cheap cementitious CLSM mixtures that are flowable in their fresh state. Successful use of quarry fines in CLSM mixtures can reduce costs related to storage and disposal of fines, save dwindling landfill space, and generate additional revenue for quarries. This study also evaluated the use of synthetic gypsum obtained from industrial waste products. The use of soil as a compacted fill is generally responsible for various issues related to differential settlement. Some of the most important causes of differential settlement are compression of poorly compacted embankment soils, poor material characteristics, non-homogeneity of embankment soils, and erosion of underlying soils. Considering limited funds available to federal and state highway agencies, the developed group of mixtures should be economically feasible and it should provide a good, constant density, homogeneous support layer with low settlement.

  15. Performance Appraisal of Controlled Low-strength Material Using Sewage Sludge and Refuse Incineration Bottom Ash

    Institute of Scientific and Technical Information of China (English)

    甄广印; 周海燕; 赵天涛; 赵由才

    2012-01-01

    This research evaluated the use of sewage sludge and refuse incineration bottom ash to replace calcium sulfoaluminate cement (CSA) in making controlled low-strength material (CLSM). Various properties of CLSM mixtures were characterized in terms of unconfined compressive strength, microstructure and leachability. It was found that the strength of tested CLSM mixtures ranged from 3.6 to 9.0 MPa, over the upper excavatable limit of 2.1 MPa. The micro-structural analysis revealed that sewage sludge and bottom ash were crystallochemically in- corporated within CLSM system_s by forming the needle-like ettringite (C3A'3CS'_H32) with exiguous tu.bers via the typical Pozzolanic Reaction, leading to a dense and low-porosity microst;'ucture. Furthermore,-the toxicity characteristic leaching procedure evidenced that the cumulative leachable metals in the leachate were much below the regulatory thresholds. The potential for us!ng sewage sludge and bottom ash!n CLSM makin.g was thus confirmed.

  16. Dynamic Testing and Properties of Rubber O-rings and Their Application in Soft Drop Weight Tests of Low Strength Materials /

    OpenAIRE

    2014-01-01

    Mechanical behavior of low strength materials and elements at high strain rates was studied using a drop tower at UCSD. A commercial drop tower was modified to conduct high strain-rate impact compression tests. Instrumentations including strain gauges, accelerometers and a high speed camera were used to establish equilibrium conditions and stress strain relation of samples with high accuracy. Dynamic response of strongly nonlinear, viscoelastic toroidal rubber elements (o-rings) is studied. N...

  17. Stock market

    OpenAIRE

    Pachlerová, Šárka

    2017-01-01

    This bachelor thesis deals with the stock market in the Czech republic. The first part of this work is focused on the characteristics concepts of the stock market. It is comprised of the definitions of the financial market, stocks, commodities, the stock exchange indexes and others. Introduction to the term Forex and definition of the types of stock exchanges and exchange trades. Introduction to the OTC trading and how the stock exchange work. In the analytical part there is introduction t...

  18. Stock Markets

    Institute of Scientific and Technical Information of China (English)

    亚玲

    2005-01-01

    There are stock markets in large cities in many countries. Stock markets in Paris, London, Tokyo, Shanghai and New York are among the largest and most well-known. The stock market, also called stock exchange, is a place where people can buy or sell shares of a factory or company. And each share means certain ownership of a factory or company.

  19. Impact of Compression Stockings vs. Continuous Positive Airway Pressure on Overnight Fluid Shift and Obstructive Sleep Apnea among Patients on Hemodialysis

    Directory of Open Access Journals (Sweden)

    Bruno C. Silva

    2017-05-01

    Full Text Available IntroductionObstructive sleep apnea (OSA is common in edematous states, notably in hemodialysis patients. In this population, overnight fluid shift can play an important role on the pathogenesis of OSA. The effect of compression stockings (CS and continuous positive airway pressure (CPAP on fluid shift is barely known. We compared the effects of CS and CPAP on fluid dynamics in a sample of patients with OSA in hemodialysis, through a randomized crossover study.MethodsEach participant performed polysomnography (PSG at baseline, during CPAP titration, and after 1 week of wearing CS. Neck circumference (NC and segmental bioelectrical impedance were done before and after PSG.ResultsFourteen patients were studied (53 ± 9 years; 57% men; body mass index 29.7 ± 6.8 kg/m2. Apnea–hypopnea index (AHI decreased from 20.8 (14.2; 39.6 at baseline to 7.9 (2.8; 25.4 during CPAP titration and to 16.7 (3.5; 28.9 events/h after wearing CS (CPAP vs. baseline, p = 0.004; CS vs. baseline, p = 0.017; and CPAP vs. CS, p = 0.017. Nocturnal intracellular trunk water was higher after wearing CS in comparison to baseline and CPAP (p = 0.03. CS reduced the fluid accumulated in lower limbs during the day, although not significantly. Overnight fluid shift at baseline, CPAP, and CS was −183 ± 72, −343 ± 220, and −290 ± 213 ml, respectively (p = 0.006. Overnight NC increased at baseline (0.7 ± 0.4 cm, decreased after CPAP (−1.0 ± 0.4 cm, and while wearing CS (−0.4 ± 0.8 cm (CPAP vs. baseline, p < 0.0001; CS vs. baseline, p = 0.001; CPAP vs. CS, p = 0.01.ConclusionCS reduced AHI by avoiding fluid retention in the legs, favoring accumulation of water in the intracellular component of the trunk, thus avoiding fluid shift to reach the neck. CPAP improved OSA by exerting local pressure on upper airway, with no impact on fluid redistribution. CPAP performed significantly better than CS

  20. Effect of kaolin addition on the performance of controlled low-strength material using industrial waste incineration bottom ash.

    Science.gov (United States)

    Naganathan, Sivakumar; Razak, Hashim Abdul; Hamid, Siti Nadzriah Abdul

    2010-09-01

    Incineration of industrial waste produces large quantities of bottom ash which are normally sent to secured landfill, but is not a sustainable solution. Use of bottom ash in engineering applications will contribute to sustainability and generate revenue. One way of using the industrial waste incineration bottom ash is in controlled low-strength material (CLSM). Use of bottom ash in CLSM has problems related to bleeding and excessive strength development and so an additive has to be used to control bleeding and strength development. The main objective of this research is to study the effect of kaolin addition on the performance of CLSM made using industrial waste incineration bottom ash. CLSM mixes were made with bottom ash, cement, and refined kaolin. Various tests were performed on the CLSM in fresh and hardened states including compressive strength, water absorption, California bearing ratio (CBR) and the tests for concentration of leachable substances on the bleed and leachate. The compressive strength of CLSM tested ranged from 0.11 to 9.86 MPa. CBR values ranged from 6 to 46, and water absorption values from 12 to 36%. It was shown that the addition of kaolin delayed the initial setting time of CLSM mixtures, reduced bleeding, lowered the compressive strength, and increased the values of water absorption, sorption, and initial surface absorption. The CLSM tested did not have corrosivity. It was shown that the hardened CLSM was non hazardous, and the addition of kaolin increased the concentration of heavy metals and salts in the bleed and leachate.

  1. artificial neural network model for low strength rc beam shear capacity

    African Journals Online (AJOL)

    User

    predicting the shear strength of 26 low strength RC beams. Even though ... research activity over the last 20 years. The ... 2012 Kwame Nkrumah University of Science and Technology (KNUST) ... art approach to computation procedures is the.

  2. Stock Status

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data inform the public of the most recent stock status for all stocks (FSSI and non-FSSI) in the fishery management unit contained in a fishery managment plan....

  3. Hydrophilic quantum dots stability against an external low-strength electric field

    Energy Technology Data Exchange (ETDEWEB)

    Goftman, Valentina V., E-mail: Valentina.Goftman@UGent.be [Department of General and Inorganic Chemistry, Chemistry Institute, Saratov State University, Astrakhanskaya 83, 410012 Saratov (Russian Federation); Laboratory of Food Analysis, Faculty of Pharmaceutical Sciences, Ghent University, Ottergemsesteenweg 460, 9000 Ghent (Belgium); Pankratov, Vladislav A.; Markin, Alexey V. [Department of General and Inorganic Chemistry, Chemistry Institute, Saratov State University, Astrakhanskaya 83, 410012 Saratov (Russian Federation); Ginste, Dries Vande [IBCN/Electromagnetics Group, Department of Information Technology, Ghent University/iMinds, Sint-Pietersnieuwstraat 41, 9000 B-Gent (Belgium); De Saeger, Sarah [Laboratory of Food Analysis, Faculty of Pharmaceutical Sciences, Ghent University, Ottergemsesteenweg 460, 9000 Ghent (Belgium); Goryacheva, Irina Yu. [Department of General and Inorganic Chemistry, Chemistry Institute, Saratov State University, Astrakhanskaya 83, 410012 Saratov (Russian Federation)

    2016-02-15

    Graphical abstract: - Highlights: • Silica-coated and polymer-covered hydrophilic quantum dots are synthesized and characterized. • Impact of low-strength electric field is compared for both hydrophilic shells. • Silica shell protects the quantum dots fluorescent core when being subjected to a low-strength electric field. - Abstract: Since the stability of nanobiolabels plays a key role in their application, we thoroughly investigated how an external, low-strength electric field impacts on the fluorescent properties of hydrophilic quantum dots (QDs). Two fundamentally different approaches were applied to make the QDs water-soluble, i.e. ligand exchange (namely silica covering) and encapsulation with an amphiphilic polymer. It is shown that, even under a low-strength electric field, the polymer-coated QDs could lose 90% of their brightness because of the weak interaction between the QD's surface and the polymeric molecule. Silica-covered QDs, on the contrary, stay bright and stable owing to the covalently attached dense silica shell. These findings, which are clearly explained and illustrated in the present paper, are of critical importance in the context of hydrophilic QDs’ bioapplication.

  4. Stiffness of compression devices

    Directory of Open Access Journals (Sweden)

    Giovanni Mosti

    2013-03-01

    Full Text Available This issue of Veins and Lymphatics collects papers coming from the International Compression Club (ICC Meeting on Stiffness of Compression Devices, which took place in Vienna on May 2012. Several studies have demonstrated that the stiffness of compression products plays a major role for their hemodynamic efficacy. According to the European Committee for Standardization (CEN, stiffness is defined as the pressure increase produced by medical compression hosiery (MCH per 1 cm of increase in leg circumference.1 In other words stiffness could be defined as the ability of the bandage/stockings to oppose the muscle expansion during contraction.

  5. Low strength ultrasonication positively affects the methanogenic granules toward higher AD performance. Part I: Physico-chemical characteristics

    DEFF Research Database (Denmark)

    Cho, S. K.; Hwang, Yuhoon; Kim, D. H.

    2013-01-01

    To elucidate the correlation between enhanced biogas production and changed physico-chemical properties of methanogenic granules after low strength ultrasonication, in this study, the effects of low strength ultrasonication on the settling velocity, permeability, porosity, and fluid collection...... efficiency of the methanogenic granules were investigated. In addition, their morphological changes were visualized using a scanning electron microscopic technique. The experimental results indicate that low strength ultrasonication increased both the permeability (37%) and specific surface area (230...

  6. High and low strength nonsynchronized shocks given during canine ventricular tachycardia.

    Science.gov (United States)

    McClelland, J H; Daubert, J P; Kavanagh, K M; Harrell, F E; Ideker, R E

    1992-07-01

    Cardioversion shocks given during ventricular tachycardia may cause ventricular fibrillation or acceleration of ventricular tachycardia, or arrest the tachycardia. A recently proposed theory may explain why the former two phenomena may occur. Briefly, this theory states that potential gradient shock fields of a critical strength delivered to tissue with a critical degree of refractoriness will cause circulating wave fronts of ventricular activation ("rotors") manifest as ventricular arrhythmia. We tested this theory by delivering nonsynchronized shocks 50% higher than defibrillation threshold or 50% lower than defibrillation threshold during 275 episodes of ventricular tachycardia in eight dogs with 5- to 7-day-old myocardial infarcts. Shocks stronger than the defibrillation threshold are likely to create shock fields in the ventricles everywhere stronger than this critical value, and therefore would not generate rotors. Shocks less strong than the defibrillation threshold may create shock fields within the ventricles that include the critical value, and therefore cause rotors if given when critically refractory tissue is present. Nonsynchronized shocks were used to increase the likelihood of encountering tissue with a critical degree of refractoriness. Ventricular fibrillation or acceleration of ventricular tachycardia occurred following 83 of 138 (60%) low strength shocks and following 20 of 137 (14.6%) high strength shocks. The pooled odds ratio for induction of ventricular fibrillation or accelerated ventricular tachycardia after low strength shocks as compared to high strength shocks was 8.9. when given during ventricular tachycardia, low strength shocks are much more likely to cause ventricular fibrillation or accelerated ventricular tachycardia than are high strength shocks (P less than 0.01).(ABSTRACT TRUNCATED AT 250 WORDS)

  7. Utilization of SRS pond ash in controlled low strength material. Technical report

    Energy Technology Data Exchange (ETDEWEB)

    Langton, C.A.; Rajendran, N.

    1995-12-01

    Design mixes for Controlled Low Strength Material (CLSM) were developed which incorporate pond ashes (fly ashes) from the A-Area Ash Pile, the old F-Area Ash Basin and the D-Area Ash Basin. CLSM is a pumpable, flowable, excavatable backfill used in a variety of construction applications at SRS. Results indicate that CLSM which meets all of the SRS design specifications for backfill, can be made with the A-, D-, and F-Area pond ashes. Formulations for the design mixes are provided in this report. Use of the pond ashes may result in a cost savings for CLSM used at SRS and will utilize a by-product waste material, thereby decreasing the amount of material requiring disposal.

  8. Characterization of membrane foulants at ambient temperature anaerobic membrane bioreactor treating low-strength industrial wastewater

    DEFF Research Database (Denmark)

    Zarebska, Agata; Kjerstadius, Hamse; Petrinic, Irena

    2016-01-01

    with anaerobic biological treatment at low temperature could not only reduce the operational cost of AD, but also alleviate environmental problems. However, at low temperature the AnMBR may suffer more fouling due to the increased extracellular polymeric substances production excreted by bacteria hampering......The large volume of industrial low-strength wastewaters has a potential for biogas production through conventional anaerobic digestion (AD), limited though by the need of heating and concentrating of the wastewaters. The use of anaerobic membrane bioreactor (AnMBR) combining membrane filtration...... the application of the process for the industrial wastewater treatment. In order to solve or reduce the fouling problem it is necessary to have a good insight into the processes that take place both on and in the membrane pores during filtration. Therefore, the objective of this study is to contribute to a better...

  9. Low-temperature anaerobic treatment of low-strength pentachlorophenol-bearing wastewater.

    Science.gov (United States)

    Lopez, J; Monsalvo, V M; Puyol, D; Mohedano, A F; Rodriguez, J J

    2013-07-01

    The anaerobic treatment of low-strength wastewater bearing pentachlorophenol (PCP) at psychro-mesophilic temperatures has been investigated in an expanded granular sludge bed reactor. Using an upward flow rate of 4 m h(-1), a complete removal of PCP, as well as COD removal and methanization efficiencies higher than 75% and 50%, respectively, were achieved. Methanogenesis and COD consumption were slightly affected by changes in loading rate, temperature (17-28°C) and inlet concentrations of urea and oils. Pentachlorophenol caused an irreversible inhibitory effect over both acetoclastic and hydrogenotrophic methanogens, being the later more resistant to the toxic effect of pentachlorophenol. An auto-inhibition phenomenon was observed at PCP concentrations higher than 10 mg L(-1), which was accurately predicted by a Haldane-like model. The inhibitory effect of PCP over the COD consumption and methane production was modelled by modified pseudo-Monod and Roediger models, respectively.

  10. Nutrient and organic matter removal from low strength sewage treated with constructed wetlands.

    Science.gov (United States)

    Mello, D; Carvalho, K Q; Passig, F H; Freire, F B; Borges, A C; Lima, M X; Marcelino, G R

    2017-09-11

    In this study, the role of Eichhornia crassipes for removing pollutants from low strength sewage was evaluated. For that, three pilot scale constructed wetlands (CW) were built: CW 1, planted with E. crassipes in a filter media; CW 2, unplanted, composed only by filter media; and CW 3 composed only of E. crassipes floating on the sewage. The operation of these systems was divided in three stages varying the nominal hydraulic retention time (HRT) in: (I) 24 h; (II) 48 h; and (III) 72 h. Temporal sampling profiles were carried out with collection of samples from the influent and effluent of the CWs to determine temperature, pH, COD, TKN and TP. Contents of TP and TN were analyzed in the plant tissue of the macrophyte. The best removal efficiency for phosphorus, and TKN were obtained in CW 3 38% (72 h) and 47% (72 h), respectively. The highest COD removal was observed in the CW 2 with 80% for HRT 48 h. The macrophyte Eichhornia crassipes contributed to the absorption process with uptake rate percentages of 8.3% (CW 1) and 9.0% (CW 3) for TN and 0.78% (CW 1) and 1.56% (CW 3) for TP on the dry matter of the plant. The chosen species planted in the systems contributed to the achievement of higher nutrient removal.

  11. Low strength wastewater treatment under low temperature conditions by a novel sulfur redox action process.

    Science.gov (United States)

    Yamaguchi, T; Bungo, Y; Takahashi, M; Sumino, H; Nagano, A; Araki, N; Imai, T; Yamazaki, S; Harada, H

    2006-01-01

    The objective of this research is to make a novel wastewater treatment process activated by a sulfur-redox cycle action of microbes in low temperature conditions. This action is carried out by sulfate-reducing bacteria (SRB) and sulfur-oxidizing bacteria (SOB). The process was comprised of a UASB reactor as pre-treatment and an aerobic downflow hanging sponge (DHS) reactor as post-treatment. As the results of reactor operation, the whole process achieved that over 90% of CODcr removal efficiency, less than 30 mgCODcr/L (less than 15 mgBOD/L) of final effluent, at 12 h of HRT and at 8 degrees C of UASB reactor temperature. Acetobacterium sp. was detected as the predominant species by PCR-DGGE method targeting 16SrDNA with band excision and sequence analysis. In the UASB reactor, various species of sulfate-reducing bacterium, Desulfobulbus sp., Desulfovibrio sp., and Desulfomicrobium sp., were found by cloning analysis. In the DHS reactor, Tetracoccus sp. presented as dominant. The proposed sulfur-redox action process was considered as an applicable process for low strength wastewater treatment in low temperature conditions.

  12. Smart medical stocking using memory polymer for chronic venous disorders.

    Science.gov (United States)

    Kumar, Bipin; Hu, Jinlian; Pan, Ning

    2016-01-01

    Proper level of pressure or compression generated by medical stocking or hosiery is the key element for successful treatment or management of chronic venous disorders such as oedema, leg ulcers, etc. However achieving the recommended compression level and, more importantly, sustaining it using stockings has been a major challenge to the health practitioners supervising the treatment. This work aims to investigate and design a smart compression stocking using shape-memory polymer that allows externally controlling the pressure level in the wrapped position on the leg. Based on thermodynamical rubber theories, we first derived several criteria that have to be satisfied simultaneously in order to achieve the controlled pressure adjustment using external heat stimuli. We then presented a case where such a stocking is developed using a blend yarn consists of selected shape-memory polyurethane and nylon filaments. Extensive experimental work has also been conducted to demonstrate the feasibility and explore the influencing factors involved.

  13. Simultaneous nutrients and carbon removal from low-strength domestic wastewater with an immobilised-microorganism biological aerated filter.

    Science.gov (United States)

    Chen, Q; Qu, L; Tong, G; Ni, J

    2011-01-01

    To improve the efficiency of low-strength domestic wastewater treatment, an immobilised-microorganism biological aerated filter (I-BAF) was established for simultaneous carbon, nitrogen and phosphorus removal. The I-BAF performance was systematically evaluated under continuous and intermittent aeration modes. At the optimal condition with an intermittent aeration control schedule of 2 h on/1 h off, the maximum removal rates of COD, NH(4)(+)-N, TN and P were 82.54%, 94.83%, 51.85% and 61.49%, respectively, and the corresponding averaged effluents could meet the first class standards of China. Further analysis of PCR-DGGE profile revealed that members of the gamma and alpha proteobacterium bacterial groups were probably responsible for the nitrogen and phosphorus removal. The I-BAF system showed excellent performance in carbon and nutrients removal, which provided a cost-effective solution for the treatment of low-strength domestic wastewater.

  14. Stock Price Expectations and Stock Trading

    OpenAIRE

    Michael D. Hurd; Susann Rohwedder

    2012-01-01

    Background: The fact that many individuals inexplicably fail to buy stocks, despite the historical evidence for a good return on investment has been referred to as the stock market puzzle. However, measurements of the subjective probability of a gain show that people are more pessimistic than historical outcomes would suggest. Further, expectations of future stock price increases apparently depend on old information, which would seem to be at odds with rational expectations in the context of ...

  15. Employee Stock Purchase Plans

    National Research Council Canada - National Science Library

    Gary V. Engelhardt; Brigitte C. Madrian

    2004-01-01

    Employee stock purchase plans (ESPPs) are designed to promote employee stock ownership broadly within the firm and provide another tax-deferred vehicle for individual capital accumulation in addition to traditional pensions, 401(k...

  16. "Compressed" Compressed Sensing

    CERN Document Server

    Reeves, Galen

    2010-01-01

    The field of compressed sensing has shown that a sparse but otherwise arbitrary vector can be recovered exactly from a small number of randomly constructed linear projections (or samples). The question addressed in this paper is whether an even smaller number of samples is sufficient when there exists prior knowledge about the distribution of the unknown vector, or when only partial recovery is needed. An information-theoretic lower bound with connections to free probability theory and an upper bound corresponding to a computationally simple thresholding estimator are derived. It is shown that in certain cases (e.g. discrete valued vectors or large distortions) the number of samples can be decreased. Interestingly though, it is also shown that in many cases no reduction is possible.

  17. Stock Market Project.

    Science.gov (United States)

    Distel, Brenda D.

    This project is designed to teach students the process of buying stocks and to tracking their investments over the course of a semester. The goals of the course are to teach students about the relationships between conditions in the economy and the stock market; to predict the effect of an economic event on a specific stock or industry; to relate…

  18. The clinical effect of compression stockings on thrombophilia patients with ectopic pregnancy for the prevention on deep venous thrombosis after laparoscopic surgery%早期弹力袜对易栓症患者异位妊娠腔镜术后下肢深静脉血栓形成的防治作用

    Institute of Scientific and Technical Information of China (English)

    李志萍; 汤广恩; 黄楷; 黎晔; 郑嘉富

    2016-01-01

    Objective To explore the clinical effect of compression stockings on thrombophilia patients with ectopic pregnancy for the prevention on the lower extremities deep venous thrombosis after laparoscopic surgery. Methods A total of 132 cases with ectopic pregnancy were subjected to laparoscopic surgery from January 2014 to Decemb er 2015. Of them,38 patients were involved in this research,.and was divided into two groups,.the observation group which the compression stockings were on application and the control group which would be not.The incidence of postoperative lower limb deep vein thrombosis and pulmonary embolism,.and postoperative levels in D2 polymers,were respectively compared between the two groups. Results The incidence of extremity deep venous thrombosis in the observation group could be lower than that in the control group, which showed the great significance (5.6% VS 35%, P=0.045). However, the incidence of postoperative pulmonary and the levels of D2 polymers had no significant difference in two groups. Conclusion Although there is relative insufficiency in the design and sample size in this study, the early postoperative application of compression stockings on the prevention and treatment of lower extremity deep venous thrombosis in thrombophilia patients with ectopic pregnancy after laparoscopic surgery,.would be effective,.and relatively safe.%目的:异位妊娠需要接受腹腔镜手术的易栓症患者术后早期应用弹力袜防治下肢深静脉血栓形成的临床意义。方法选取我院2014年1月~2015年12月因异位妊娠而接受腹腔镜手术的患者共132例,共38例符合入组及排除标准,对比这些易栓症患者术后早期应用弹力袜处理(观察组)及非弹力袜处理(对照组),比较术后下肢深静脉血栓及肺栓塞的发生率,以及术后 D2聚体的变化。结果观察组术后下肢深静脉血栓的发生率较对照组显著下降(5.6% VS 35%,P=0.045),而术后肺栓及D2聚体的变化在两

  19. Compression therapy in elderly and overweight patients.

    Science.gov (United States)

    Reich-Schupke, Stefanie; Murmann, Friederike; Altmeyer, Peter; Stücker, Markus

    2012-03-01

    According to the current demography of the western population, age and weight will have increasing impact on medical therapies. The aim of the analysis was to examine if there are differences in the use of compression therapy depending on age and BMI. Questioning of 200 consecutive phlebological patients (C2-C6) with a compression therapy time of > 2 weeks. Analysis of 110 returned questionnaires. Sub-analysis according to age (≥ 60 years vs. 60 years even need the help of another person to apply compression. Patients ≥ 25 kg/m2 have an ulcer stocking significantly more often (15 % vs. 4.3 %, p = 0.05) and need the help of family members to put on the compression therapy (11.7 % vs. 2.1 %, p = 0.04). There is a tendency of patients ≥ 25 kg/m2 to complain more often about a constriction of compression therapy (35 % vs. 19.2 %, p = 0.06). There are special aspects that have to be regarded for compression therapy in elderly and overweight patients. Data should encourage prescribers, sellers and manufacturers of compression therapy to use compression in a very differentiated way for these patients and to consider: Is the recommended compression therapy right for this patient (pressure, material, type)? What advice and adjuvants do the patients need to get along more easily with the compression therapy? Are there any new materials or adjuvants that allow those increasing groups of people to get along with compression therapy alone?

  20. New Future for Stock Trading

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Securities regulators formulated the risk-control mechanism prior to launch of stock index futures in China For three years Wang Liangguang, an experienced stock investor, waited patiently for the trading of stock index futures. And now, that day has

  1. Stocks Go Up

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    China's stock market comes alive with the resumption of new share issues Securities investors have reacted calmly after the industry regulator announced the resumption of initial public offerings (IPOs) on the Chinese stock market following a yearlong suspension, a move previously believed to hit the market by causing a drain in liquidity from the secondary to the primary market. According to the China Securities

  2. The Clots in Legs Or sTockings after Stroke (CLOTS) 3 trial: a randomised controlled trial to determine whether or not intermittent pneumatic compression reduces the risk of post-stroke deep vein thrombosis and to estimate its cost-effectiveness.

    Science.gov (United States)

    Dennis, Martin; Sandercock, Peter; Graham, Catriona; Forbes, John; Smith, J

    2015-09-01

    Venous thromboembolism (VTE) is a common cause of death and morbidity in stroke patients. There are few data concerning the effectiveness of intermittent pneumatic compression (IPC) in treating patients with stroke. To establish whether or not the application of IPC to the legs of immobile stroke patients reduced their risk of deep vein thrombosis (DVT). Clots in Legs Or sTockings after Stroke (CLOTS) 3 was a multicentre, parallel-group, randomised controlled trial which allocated patients via a central randomisation system to IPC or no IPC. A technician blinded to treatment allocation performed compression duplex ultrasound (CDU) of both legs at 7-10 days and 25-30 days after enrolment. We followed up patients for 6 months to determine survival and later symptomatic VTE. Patients were analysed according to their treatment allocation. We enrolled 2876 patients in 94 UK hospitals between 8 December 2008 and 6 September 2012. patients admitted to hospital within 3 days of acute stroke and who were immobile on the day of admission (day 0) to day 3. age cost of preventing a DVT was £1282 per event (95% CI £785 to £3077). IPC is an effective and inexpensive method of reducing the risk of DVT and improving survival in immobile stroke patients. Further research should test whether or not IPC improves survival in other groups of high-risk hospitalised medical patients. In addition, research into methods to improve adherence to IPC might increase the benefits of IPC in stroke patients. Current Controlled Trials ISRCTN93529999. The start-up phase of the trial (December 2008-March 2010) was funded by the Chief Scientist Office of the Scottish Government (reference number CZH/4/417). The main phase of the trial was funded by the National Institute for Health Research Health Technology Assessment programme (reference number 08/14/03). Covidien Ltd (Mansfield, MA, USA) lent its Kendall SCD™ Express sequential compression system controllers to the 105 centres involved in the

  3. The effect of chemical treatment and compression percent on mechanical properties of Paulownia compressed wood

    Directory of Open Access Journals (Sweden)

    Mahboobeh Mehmandoost

    2014-11-01

    Full Text Available Since human creation up to now, wood has been discussed as an important organic material, therefore its maintain and optimum usage is a considerable problem. From one hand, with due attention to condition of forest in Iran, using fast growing specie Paulownia provides new way in wood industries. But from other hand, this specie with low density has low strength. One of the suggested ways to increase density of this wood is its impregnation by resin and to compress it. In this research it is tried to increase the penetrability and impregnation of Paulownia by using urea formaldehyde resin at first pretreatment and then compression should be done. In order to perform this process, two variables pretreatment and compression percent were defined that each of them had two levels. The pretreatment was performed by NaCl and NaOH and 40, 50% compression. Totally, 72 samples were prepared and after producing the compressed wood, the absorption percent and mechanical properties were evaluated which included compression parallel to grain, modulus of rupture, modulus of elasticity in bending and impact strength. The results showed that the provided mechanical properties and pretreatments samples with NaCl had most values of these properties in 40 and 50% compression levels.

  4. The Stock Market

    OpenAIRE

    Deca Claudiu

    2011-01-01

    The foundation and the establishment of the stock market express the emergence of the exchange relationships, and of the market as a defining structure of modern economy. The well-known French historian Fernand Brandel states that “the stock market is the last floor of a market, but that of a market which never ends”, of a market which includes and dominates the entire economic reality. Once with the acknowledgement of the stock market, the exchange relationships have reached the complete exp...

  5. Stocks and shocks

    Directory of Open Access Journals (Sweden)

    Bert Scholtens

    2002-12-01

    Full Text Available How do stock markets respond to extreme events? This paper analyzes the reaction ofstock markets in four industrialized economies (Italy, the Netherlands, Sweden, the US to ten major international crises. We employ an event study to investigate whether the stock exchanges react differently with respect to extreme events such as the Chernobyl nuclear power plant meltdown, the Gulf War, the peso crisis, the Kosovo War or the 11/9 attack on the US. There is no substantial evidence that markets react differently to extreme events than to more ordinary news. We have significant evidence that there is no standard reaction of stock markets to extreme events.

  6. The Stock Market

    OpenAIRE

    Deca Claudiu

    2011-01-01

    The foundation and the establishment of the stock market express the emergence of the exchange relationships, and of the market as a defining structure of modern economy. The well-known French historian Fernand Brandel states that “the stock market is the last floor of a market, but that of a market which never ends”, of a market which includes and dominates the entire economic reality. Once with the acknowledgement of the stock market, the exchange relationships have reached the complete exp...

  7. A simplified analysis of granule behavior in ASBR and UASB reactors treating low-strength synthetic wastewater

    Directory of Open Access Journals (Sweden)

    R. G. Veronez

    2005-09-01

    Full Text Available This work presents an analysis of the changes observed in granule characteristics of sludge in the treatment of synthetic wastewater at a concentration of about 500 mgCOD/L in batch, fed-batch (ASBR and continuous (UASB bench-scale reactors under similar experimental conditions. Physical and microbiological properties of the granules were characterized as average particle size and sedimentation time and by optical and epifluorescence microscopy. Several samples were analyzed in order to identify the morphologies. Granules from sequencing batch and fed-batch reactors, either with or without mechanical mixing, did not undergo any physical or microbiological changes. However, during the experiment granules from the UASB reactor agglomerated due to the formation and accumulation of a viscous material, probably of microbial origin, when operated at low superficial velocities (0.072, 0.10 and 0.19 m/h. When the superficial velocity was increased to 8.0-10.0 m/h by means of liquid-phase recirculation, the granules from the UASB reactor underwent flocculation and the microbiological characteristics changed in such a way that the equilibrium of microbial diversity in the inoculum was not maintained. As a result, the only reactor that maintained efficiency and good solids retention during the assays was the ASBR, showing that there is a correlation between maintenance of microbial diversity and operating mode in the case of anaerobic treatment of low-strength wastewaters.

  8. A pilot-scale forward osmosis membrane system for concentrating low-strength municipal wastewater: performance and implications

    Science.gov (United States)

    Wang, Zhiwei; Zheng, Junjian; Tang, Jixu; Wang, Xinhua; Wu, Zhichao

    2016-02-01

    Recovery of nutrients and energy from municipal wastewater has attracted much attention in recent years; however, its efficiency is significantly limited by the low-strength properties of municipal wastewater. Herein, we report a pilot-scale forward osmosis (FO) system using a spiral-wound membrane module to concentrate real municipal wastewater. Under active layer facing feed solution mode, the critical concentration factor (CCF) of this FO system was determined to be 8 with 0.5 M NaCl as draw solution. During long-term operation at a concentration factor of 5, (99.8 ± 0.6)% of chemical oxygen demand and (99.7 ± 0.5)% of total phosphorus rejection rates could be achieved at a flux of 6 L/(m2 h) on average. In comparison, only (48.1 ± 10.5)% and (67.8 ± 7.3)% rejection of ammonium and total nitrogen were observed. Cake enhanced concentration polarization is a major contributor to the decrease of water fluxes. The fouling also led to the occurrence of a cake reduced concentration polarization effect, improving ammonium rejection rate with the increase of operation time in each cycle. This work demonstrates the applicability of using FO process for wastewater concentrating and also limitations in ammonium recovery that need further improvement in future.

  9. Operation of three parallel AN/AO processes to enrich denitrifying phosphorus removing bacteria for low strength wastewater treatment

    Institute of Scientific and Technical Information of China (English)

    XIA Si-qing; LIU Hong-bo

    2006-01-01

    Three parallel anaerobic-anoxic/anaerobic-aerobic (AN/AO) processes were developed to enrich denitrifying phosphorus removal bacteria (DPB) for low strength wastewater treatment. The main body of the parallel AN/AO process consists of an AN(anaerobic-anoxic) process and an AO (anaerobic-aerobic) process. In the AO process, the common phosphorus accumulating organisms (PAOs) was dominate, while in the AN process, DPB was dominate. The volume of anaerobic zone(Vana):anoxic zone(Vano):aerobic zone (Vaer) for the parallel AN/AO process is 1:1:1 in contrast with a Vana:Vaer and Vano,:Vaer of 1:2 and 1:4 for a traditional biological nutrient removal process (BNR). Process 3 excels in the 3 processes on the basis of COD, TN and TP removal. For 4 month operation, the effluent COD concentration of process 3 did not exceed 60 mg/L; the effluent TN concentration of process 3 was lower than 15 mg/L; and the effluent TP concentration of process 3 was lower than 1 mg/L.

  10. Interface pressure and stiffness of various elastic stockings during posture changes and exercise.

    Science.gov (United States)

    Hirai, Masafumi; Iwata, Hirohide; Ishibashi, Hiroyuki; Ota, Takashi; Nakamura, Hisako

    2008-01-01

    The importance of measuring interface pressure and stiffness to characterize the elastic properties of materials has been stressed with regard to elastic stockings and elastic bandages. The objective of this study was to compare the pressure profiles of nine different elastic stockings and to quantify the effects of posture changes and exercise on compression. Using a pressure transducer (Air Pack Type Analyzer), the interface pressure associated with nine different elastic stockings was measured at level B1 during supine resting, standing, and exercise. The elastic stockings examined could be divided into two categories according to extensibility: short stretch ( 105% extensibility). Short-stretch stockings include thick round-knitted stockings, firm round-knitted stockings, and flat-knitted stockings. Short-stretch stockings showed a higher peak working pressure and a larger pressure amplitude during exercise than long-stretch stockings. Short-stretch stockings can be expected to have more pronounced benefits for augmenting muscle pumping in the same way as short-stretch bandages. In selecting suitable elastic stockings for patients, the stiffness should be taken into account in addition to interface pressure.

  11. New Future for Stock Trading

    Institute of Scientific and Technical Information of China (English)

    LAN XINZHEN

    2010-01-01

    @@ For three years Wang Liangguang,an cxperienced stock investor,waited patiently for the trading of stock index futures.And now,that day has arrived-stock index futures will soon be launched on Chinese financial market.The China Securities Regulatory Commission (CSRC) may officially launch stock index futures as soon as May.

  12. Stock Market Tournaments

    OpenAIRE

    Ozdenoren, Emre; Yuan, Kathy

    2012-01-01

    We propose a new theory of suboptimal risk-taking based on contractual externalities. We examine an industry with a continuum of firms. Each firm's manager exerts costly hidden effort. The productivity of effort is subject to systematic shocks. Firms' stock prices reflect their performance relative to the industry average. In this setting, stock-based incentives cause complementarities in managerial effort choices. Externalities arise because shareholders do not internalize the impact of thei...

  13. Stock Market Driven Acquisitions

    OpenAIRE

    Andrei Shleifer; Vishny, Robert W.

    2001-01-01

    We present a model of mergers and acquisitions based on stock market misvaluations of the combining firms. The key ingredients of the model are the relative valuations of the merging firms, the horizons of their respective managers, and the market's perception of the synergies from the combination. The model explains who acquirers whom, whether the medium of payment is cash or stock, what are the valuation consequences of mergers, and why there are merger waves. The model is consistent with a...

  14. Trading Network Predicts Stock Price

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  15. Trading network predicts stock price.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  16. Wellhead compression

    Energy Technology Data Exchange (ETDEWEB)

    Harrington, Joe [Sertco Industries, Inc., Okemah, OK (United States); Vazquez, Daniel [Hoerbiger Service Latin America Inc., Deerfield Beach, FL (United States); Jacobs, Denis Richard [Hoerbiger do Brasil Industria de Equipamentos, Cajamar, SP (Brazil)

    2012-07-01

    Over time, all wells experience a natural decline in oil and gas production. In gas wells, the major problems are liquid loading and low downhole differential pressures which negatively impact total gas production. As a form of artificial lift, wellhead compressors help reduce the tubing pressure resulting in gas velocities above the critical velocity needed to surface water, oil and condensate regaining lost production and increasing recoverable reserves. Best results come from reservoirs with high porosity, high permeability, high initial flow rates, low decline rates and high total cumulative production. In oil wells, excessive annulus gas pressure tends to inhibit both oil and gas production. Wellhead compression packages can provide a cost effective solution to these problems by reducing the system pressure in the tubing or annulus, allowing for an immediate increase in production rates. Wells furthest from the gathering compressor typically benefit the most from wellhead compression due to system pressure drops. Downstream compressors also benefit from higher suction pressures reducing overall compression horsepower requirements. Special care must be taken in selecting the best equipment for these applications. The successful implementation of wellhead compression from an economical standpoint hinges on the testing, installation and operation of the equipment. Key challenges and suggested equipment features designed to combat those challenges and successful case histories throughout Latin America are discussed below.(author)

  17. Compressive beamforming

    DEFF Research Database (Denmark)

    Xenaki, Angeliki; Mosegaard, Klaus

    2014-01-01

    Sound source localization with sensor arrays involves the estimation of the direction-of-arrival (DOA) from a limited number of observations. Compressive sensing (CS) solves such underdetermined problems achieving sparsity, thus improved resolution, and can be solved efficiently with convex...

  18. Quality of life and patients' view of compression therapy.

    Science.gov (United States)

    Reich-Schupke, S; Murmann, F; Altmeyer, P; Stücker, M

    2009-10-01

    Although compression therapy is the corner stone of phlebological therapy, less is known about the patients' view of compression. The aim of the study was to answer the following questions: Are there differences in the use of compression and the quality of life during compression therapy depending on the device (bandages, stocking [medical compression stockings, MCS], length, compression class) or indication of compression? Questioning of 200 consecutive phlebological patients (C2-C6) with a compression therapy time of >2 weeks. Analysis of 110 returned questionnaires (rate of return 55%). Twenty-nine point one percent voted the therapy as "comfortable". About 37% of the patients had an improvement of their leg symptoms by using compression therapy. Most patients (105/110) wore their compression therapy for more than 6 hours/day. The main side effects were dryness of the skin (58.5%), itching (32.7%), slipping (29.1%) or constriction of the compression device (24.5%). There were no significant differences in the side effect spectrum or the usage according to the type of compression device or the indication for the treatment (varicose surgery/ sclerotherapy). Patients with a leg ulcer and longer duration of compression therapy experienced a worse quality of life. Patients accept the recommended compression therapy (alone or in combination with other phlebological therapies) as a necessary therapy. Compression devices are really used by the patients. According to the main side effect (dryness of the skin), improvement is essential (skin care, caring MCS). Especially patients with indication for a long-term or even life-long compression therapy should be advised in detail.

  19. Excess Foundry Sand Characterization and Experimental Investigation in Controlled Low-Strength Material and Hot-Mixing Asphalt

    Energy Technology Data Exchange (ETDEWEB)

    Tikalsky, Paul J. [Pennsylvania State Univ., University Park, PA (United States); Bahia, Hussain U. [Univ. of Wisconsin, Madison, WI (United States); Deng, An [Pennsylvania State Univ., University Park, PA (United States); Snyder, Thomas [Univ. of Wisconsin, Madison, WI (United States)

    2004-10-15

    This report provides technical data regarding the reuse of excess foundry sand. The report addresses three topics: a statistically sound evaluation of the characterization of foundry sand, a laboratory investigation to qualify excess foundry sand as a major component in controlled low-strength material (CLSM), and the identification of the best methods for using foundry sand as a replacement for natural aggregates for construction purposes, specifically in asphalt paving materials. The survival analysis statistical technique was used to characterize foundry sand over a full spectrum of general chemical parameters, metallic elements, and organic compounds regarding bulk analysis and leachate characterization. Not limited to characterization and environmental impact, foundry sand was evaluated by factor analyses, which contributes to proper selection of factor and maximization of the reuse marketplace for foundry sand. Regarding the integration of foundry sand into CLSM, excavatable CLSM and structural CLSM containing different types of excess foundry sands were investigated through laboratory experiments. Foundry sand was approved to constitute a major component in CLSM. Regarding the integration of foundry sand into asphalt paving materials, the optimum asphalt content was determined for each mixture, as well as the bulk density, maximum density, asphalt absorption, and air voids at Nini, Ndes, and Nmax. It was found that foundry sands can be used as an aggregate in hot-mix asphalt production, but each sand should be evaluated individually. Foundry sands tend to lower the strength of mixtures and also may make them more susceptible to moisture damage. Finally, traditional anti-stripping additives may decrease the moisture sensitivity of a mixture containing foundry sand, but not to the level allowed by most highway agencies.

  20. Excess Foundry Sand Characterization and Experimental Investigation in Controlled Low-Strength Material and Hot-Mixing Asphalt

    Energy Technology Data Exchange (ETDEWEB)

    Pauul J. Tikalsky

    2004-10-31

    This report provides technical data regarding the reuse of excess foundry sand. The report addresses three topics: (1) a statistically sound evaluation of the characterization of foundry sand, (2) a laboratory investigation to qualify excess foundry sand as a major component in controlled low-strength material (CLSM), and (3) the identification of the best methods for using foundry sand as a replacement for natural aggregates for construction purposes, specifically in asphalt paving materials. The survival analysis statistical technique was used to characterize foundry sand over a full spectrum of general chemical parameters, metallic elements, and organic compounds regarding bulk analysis and leachate characterization. Not limited to characterization and environmental impact, foundry sand was evaluated by factor analyses, which contributes to proper selection of factor and maximization of the reuse marketplace for foundry sand. Regarding the integration of foundry sand into CLSM, excavatable CLSM and structural CLSM containing different types of excess foundry sands were investigated through laboratory experiments. Foundry sand was approved to constitute a major component in CLSM. Regarding the integration of foundry sand into asphalt paving materials, the optimum asphalt content was determined for each mixture, as well as the bulk density, maximum density, asphalt absorption, and air voids at N{sub ini}, N{sub des}, and N{sub max}. It was found that foundry sands can be used as an aggregate in hot-mix asphalt production, but each sand should be evaluated individually. Foundry sands tend to lower the strength of mixtures and also may make them more susceptible to moisture damage. Finally, traditional anti-stripping additives may decrease the moisture sensitivity of a mixture containing foundry sand, but not to the level allowed by most highway agencies.

  1. Anaerobic ammonium oxidation in traditional municipal wastewater treatment plants with low-strength ammonium loading: Widespread but overlooked.

    Science.gov (United States)

    Wang, Shanyun; Peng, Yongzhen; Ma, Bin; Wang, Shuying; Zhu, Guibing

    2015-11-01

    Occurrence of anaerobic ammonium oxidation (anammox) in marine and freshwater systems has greatly changed our understanding of global nitrogen (N) cycle and promoted the investigation of the role and ecological features of anammox in anthropogenic ecosystems. This study focused on the spatio-temporal abundance, activity, and biodiversity of anammox bacteria in full-scale municipal wastewater treatment plants (WWTPs) via traditional nitrification/denitrification route with low-strength ammonium loading. The anammox bacteria were detected in all the treatment units at the five WWTPs tested, even in aerobic zones (dissolved oxygen >2 mg L(-1)) with abundance of 10(5)-10(7) hydrazine synthase (hzs) gene copies g(-1). The (15)N-isotope tracing technology revealed that the anammox rates in WWTPs ranged from 0.08 to 0.36 μmol N g(-1) h(-1) in winter and 0.12-1.20 μmol N g(-1) h(-1) in summer with contributions of 2.05-6.86% and 1.71-7.26% to N2 production, respectively. The diversity of anammox bacteria in WWTPs was distributed over only two genera, Brocadia and Kuenenia. Additionally, the exploration of potential interspecies relationships indicated that ammonia oxidation bacteria (AOB) was the major nitrite-substrate producer for anammox during nitrification, while Nitrospira, a nitrite oxidation bacteria (NOB), was the potential major competitor for nitrite. These results suggested the contribution of N-removal by the widespread of anammox has been overlooked in traditional municipal WWTPs, and the ecological habitats of anammox bacteria in anthropogenic ecosystems are much more abundant than previously assumed.

  2. Significance of dissolved methane in effluents of anaerobically treated low strength wastewater and potential for recovery as an energy product: A review

    Science.gov (United States)

    The need for energy efficient Domestic Wastewater (DWW) treatment is increasing annually with population growth and expanding global energy demand. Anaerobic treatment of low strength DWW produces methane which can be used to as an energy product. Temperature sensitivity, low rem...

  3. EFFECTS OF STOCK SPLIT ON STOCK LIQUIDITY AND STOCK PRICE OPTIMALITY OF COMPANIES QUOTED AT NAIROBI STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    MR. SIMON KAMAU GATEI

    2012-11-01

    Full Text Available A number of researchers have found a stock split is normally followed by either positive abnormal returns or increased stock liquidity or both. However other researchers such as Murray (1985 and Bley (2002 found results that are contrary to this. The objective of this paper was to assess the consequence of stock splits on stock liquidity of Kenyan firms quoted at the NSE.The research was a causal study with a trend analytical design aimed at determining the relationship between the stock liquidity positions as a result of the stock split event. The population consisted of all companies quoted in the NSE that had undertaken a stock split between the years of 2005 and 2011. The data used was secondary data on daily volumes of stock traded and daily closing stock prices that was retrieved from the NSE website. The model used for data analysis was the Amivest liquidity ratio which was developed by cooper Groth and Avera (1985. This model measured the shillings volume traded for each 1% change in stock price. The data analysis package used was Excel spread sheet.The results from the study found out that generally the liquidity of stock, as measured by the Amivest liquidity ratio, is relatively higher in the days before the stock split than in the days after the stock split. It was also observed that liquidity tends to be lowest in the days around the stock split. Generally the aggregate liquidity position in the month before the stock split was found to be higher than in the month after the stock split.It was also observed that after the stock split, stock price showed optimality by trading at a relatively constant stock price in almost all the companies.

  4. 麻醉前应用分级加压弹力袜对卵巢癌根治术后 DVT 的影响%Effect of application of the graded compression stocKings before anesthesia on postoperative DVT after radical surgery for ovarian cancer

    Institute of Scientific and Technical Information of China (English)

    李冬梅

    2014-01-01

    目的:探讨麻醉前应用分级加压弹力袜对卵巢癌根治术后患者下肢深静脉血栓形成(DVT)的影响。方法:将6O 例卵巢癌根治术患者随机分为观察组和对照组各3O 例,观察组于麻醉前应用分级加压弹力袜预防术后 DVT;对照组不使用分级加压弹力袜,术中给予定时间断抬高和按摩患者双下肢。于麻醉前5 min、手术开始1 h、术毕1 h 采集静脉血,检测全血低切黏度、全血中切黏度、全血高切黏度、血浆黏度、红细胞聚集指数;术后第7~1O 天应用彩色多普勒超声检测下肢 DVT 发生率。结果:与麻醉前比较,两组患者手术开始1 h 和术毕1 h 全血低切黏度、全血中切黏度、全血高切黏度、血浆黏度、红细胞聚集指数显著增加(P< O. O5);观察组手术开始1 h 和术毕1 h 全血低切黏度、全血中切黏度、全血高切黏度、血浆黏度、红细胞聚集指数显著低于对照组(P < O. O5)。观察组 DVT 发生率显著低于对照组(P < O. O5)。结论:卵巢癌根治术患者手术期间使用分级加压弹力袜能有效改善血液流变学状态,降低术后下肢 DVT 发生率。%Objective:To explore the effect of application of the graded compression stocKings before anesthesia on postoperative deep venous thrombosis(DVT)of loWer extremity after radical surgery for ovarian cancer. Methods:6O patients Who Would receive radical sur_gery for ovarian cancer Were randomly divided into the observation group and the control group(3O cases in each group). The graded com_pression stocKings Were used before anesthesia to prevent postoperative DVT in the observation group and the method Was not used in the control group,the patients in this group Were given loWer limb massage and their legs Were regularly lifted during operation. The Whole blood viscosity at loW,middle and high shear rate,plasma viscosity and erythrocyte aggregation index Were detected

  5. Commodities and Stock Investment

    Directory of Open Access Journals (Sweden)

    Syed Jawad Hussain Shahzad

    2014-09-01

    Full Text Available This study is a multivariate analysis of commodities and stock investment in a newly established market scenario. Return distribution asymmetry is examined with higher order movements. Skewness in commodity future’s return is largely insignificant, whereas kurtosis is highly significant for both stock and commodity future contracts. Correlation analysis is done with Pearson’s and Kendall’s tau measures. Commodities provide significant diversification benefits when added in a portfolio of stocks. Compared with stocks, commodity future’s returns show stronger correlation with unexpected inflation. The volatility is measured through Glosten-Jagannathan-Runkle - Generalized Autoregressive Conditional Heteroskedasticity (GJR-GARCH model and reflects that commodities have inverted asymmetric behavior, that is, more impact from the upward shocks compared with downward. Stocks have asymmetric volatility, that is, more impact from negative shocks compared with positive. Gold has highest inverted asymmetric volatility. Tail dependence, measured through Student’s t copula, shows no combined downside movement. In conclusion, commodity investments provide diversification and inflation protection.

  6. Leaching characteristics of encapsulated controlled low-strength materials containing arsenic-bearing waste precipitates from refractory gold bioleaching.

    Science.gov (United States)

    Bouzalakos, S; Dudeney, A W L; Chan, B K C

    2016-07-01

    We report on the leaching of heavy elements from cemented waste flowable fill, known as controlled low-strength materials (CLSM), for potential mine backfill application. Semi-dynamic tank leaching tests were carried out on laboratory-scale monoliths cured for 28 days and tested over 64 days of leaching with pure de-ionised water as leachant. Mineral processing waste include flotation tailings from a Spanish nickel-copper sulphide concentrate, and two bioleach neutralisation precipitates (from processing at 35°C and 70°C) from a South African arsenopyrite concentrate. Encapsulated CLSM formulations were evaluated to assess the reduction in leaching by encapsulating a 'hazardous' CLSM core within a layer of relatively 'inert' CLSM. The effect of each bioleach waste in CLSM core and tailings in CLSM encapsulating medium, are assessed in combination and in addition to CLSM with ordinary silica sand. Results show that replacing silica sand with tailings, both as core and encapsulating matrix, significantly reduced leachability of heavy elements, particularly As (from 0.008-0.190 mg/l to 0.008-0.060 mg/l), Ba (from 0.435-1.540 mg/l to 0.050-0.565 mg/l), and Cr (from 0.006-0.458 mg/l to 0.004-0.229 mg/l), to below the 'Dutch List' of groundwater contamination intervention values. Arsenic leaching was inherently high from both bioleach precipitates but was significantly reduced to below guideline values with encapsulation and replacing silica sand with tailings. Tailings proved to be a valuable encapsulating matrix largely owing to small particle size and lower hydraulic conductivity reducing diffusion transport of heavy elements. Field-scale trials would be necessary to prove this concept of encapsulation in terms of scale and construction practicalities, and further geochemical investigation to optimise leaching performance. Nevertheless, this work substantiates the need for alternative backfill techniques for sustainable management of hazardous finely-sized bulk

  7. Compression therapy after ankle fracture surgery

    DEFF Research Database (Denmark)

    Winge, R; Bayer, L; Gottlieb, H

    2017-01-01

    PURPOSE: The main purpose of this systematic review was to investigate the effect of compression treatment on the perioperative course of ankle fractures and describe its effect on edema, pain, ankle joint mobility, wound healing complication, length of stay (LOS) and time to surgery (TTS). The aim...... undergoing surgery, testing either intermittent pneumatic compression, compression bandage and/or compression stocking and reporting its effect on edema, pain, ankle joint mobility, wound healing complication, LOS and TTS. To conclude on data a narrative synthesis was performed. RESULTS: The review included...... eight studies (451 patients). Seven studies found a significant effect on edema, two studies described a significant reduction in pain, one a positive effect on ankle movement, two a positive effect on wound healing, one a reduction in LOS and finally two studies reported reduction in TTS. A systematic...

  8. Stocks, Junk and Pharmaceuticals

    Institute of Scientific and Technical Information of China (English)

    何伟文

    2004-01-01

    Stock analysts in the West have recently been taking a close look at markets in the East. Among their favourites were Chinese stock funds, even though the bourses in Shanghai and Shenzhen tumbled to historic lows. But of course it is the long-term promise that counts and given the rather sombre and gloomy economic mood in Europe, this most probably will make sense for the near and, hopefully, more distant future. Nevertheless, qualified foreign institutional investors should take precautions and in our Focus (pp.20) section we pose the question of how these investors should adjust their portfolios.

  9. On Stock Right

    Institute of Scientific and Technical Information of China (English)

    潘雯

    2008-01-01

    The Company Law of 1993 is important in protecting the interests of both companies and shareholders. But on stock right, it always arouses heated debate among scholars. Before the promulgation of New Company Law of 2006, varieties of theories of this issue have been formed. Through analyzing and refuting those theories, I try to clear the ambiguous definition by explaining the essence of right and comparing related right, so as to reach the conclusion that the stock right is only the changeable form of the ownership of shareholders.

  10. Stock Control using Data Mining

    National Research Council Canada - National Science Library

    M S Ankoshe; N G Pardeshi; J N Kale

    2015-01-01

    .... These reports are then evaluated and used to order new stock. And hence "Stock Control using Data Mining" for shopping malls gives the idea about shopping mall's daily updations,details and recoveries, also we get decision over the malls...

  11. Stock Assessment Supplementary Information (SASINF)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — In the interest of efficiency, clarity and standardization of stock assessment materials, the stock assessment reports for the 2015 Groundfish update have been...

  12. Stock Market Savvy.

    Science.gov (United States)

    Okula, Susan

    2003-01-01

    This issue of Keying In, the newsletter of the National Business Education Association, focuses upon teaching young adults how to develop both investment strategies and an understanding of the stock market. The first article, "Sound Investing Know-How: A Must for Today's Young Adults," describes how young adults can plan for their own…

  13. Stock Market Savvy.

    Science.gov (United States)

    Okula, Susan

    2003-01-01

    This issue of Keying In, the newsletter of the National Business Education Association, focuses upon teaching young adults how to develop both investment strategies and an understanding of the stock market. The first article, "Sound Investing Know-How: A Must for Today's Young Adults," describes how young adults can plan for their own…

  14. Assessment demersal fish stocks Mauritania

    NARCIS (Netherlands)

    Corten, A.A.H.M.; Goudswaard, P.C.; Heessen, H.J.L.

    2006-01-01

    The RIVO project "Assessment of demersal fish stocks in Mauritania" was commissioned by the Ministry of Foreign Affairs of The Netherlands to produce information on the state of the demersal fish stocks (species that live near the bottom) in Mauritania, in particular octopus and shrimps. These stock

  15. Assessment demersal fish stocks Mauritania

    NARCIS (Netherlands)

    Corten, A.A.H.M.; Goudswaard, P.C.; Heessen, H.J.L.

    2006-01-01

    The RIVO project "Assessment of demersal fish stocks in Mauritania" was commissioned by the Ministry of Foreign Affairs of The Netherlands to produce information on the state of the demersal fish stocks (species that live near the bottom) in Mauritania, in particular octopus and shrimps. These stock

  16. Comparable stocks, boundedly rational stock markets and IPO entry rates.

    Directory of Open Access Journals (Sweden)

    Jay Chok

    Full Text Available In this study, we examine how initial public offerings (IPO entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses.

  17. Photodynamic therapy with low-strength ALA, repeated applications and short contact periods (40-60 minutes) in acne, photoaging and vitiligo.

    Science.gov (United States)

    Serrano, Gabriel; Lorente, Matilde; Reyes, Madga; Millán, Fernando; Lloret, Adrián; Melendez, Joaquín; Navarro, Maria; Navarro, Miguel

    2009-06-01

    Topical aminolevulinic acid (ALA) photodynamic therapy (PDT) is currently being used for the treatment of actinic keratosis of the face and scalp. This study reports the results obtained after three to four treatments with ALA-PDT in patients with acne (n=12), photoaging (n=8) and vitiligo (n=6). ALA was applied on large areas (e.g., full face) and at very low strengths (1-2%). Side effects were minimal and self-limited.

  18. A study on the effect of stock liquidity and stock liquidity risk on information asymmetry: Evidence from Tehran Stock Exchange

    OpenAIRE

    Mohammad Hassani; Najme Harati Nik

    2014-01-01

    This study investigates the effect of stock liquidity and stock liquidity risk on information asymmetry in Tehran Stock Exchange (TSE) listed companies. In this study, the bid-ask spread is considered as the criterion of information asymmetry. In addition, stock trade volume and the number of stock trades are considered as the criteria of stock liquidity. Some variables such as size, stock price, beta and growth are also considered as control variables. To test the hypotheses of the survey, 2...

  19. Stock market driven acquisitions

    OpenAIRE

    Shleifer, Andrei; Vishny, Robert W.

    2003-01-01

    We present a model of mergers and acquisitions based on stock market misvaluations of the combining firms. The key ingredients of the model are the relative valuations of the merging firms and the market’s perception of the synergies from the combination. The model explains who acquires whom, the choice of the medium of payment, the valuation consequences of mergers, and merger waves. The model is consistent with available empirical findings about characteristics and returns of merging firms,...

  20. Rainy Day Stocks

    DEFF Research Database (Denmark)

    Gormsen, Niels Joachim; Greenwood, Robin

    We study the good- and bad-times performance of equity portfolios formed on characteristics. Many characteristics associated with good performance during bad times—value, profitability, small size, safety, and total volatility—also perform well during good times. Stocks with characteristics...... generated during good times. We also show how an investor can build a “rainy day” portfolio that minimizes underperformance during bad times...

  1. Compressive Sensing Over Networks

    CERN Document Server

    Feizi, Soheil; Effros, Michelle

    2010-01-01

    In this paper, we demonstrate some applications of compressive sensing over networks. We make a connection between compressive sensing and traditional information theoretic techniques in source coding and channel coding. Our results provide an explicit trade-off between the rate and the decoding complexity. The key difference of compressive sensing and traditional information theoretic approaches is at their decoding side. Although optimal decoders to recover the original signal, compressed by source coding have high complexity, the compressive sensing decoder is a linear or convex optimization. First, we investigate applications of compressive sensing on distributed compression of correlated sources. Here, by using compressive sensing, we propose a compression scheme for a family of correlated sources with a modularized decoder, providing a trade-off between the compression rate and the decoding complexity. We call this scheme Sparse Distributed Compression. We use this compression scheme for a general multi...

  2. Compression limits in cascaded quadratic soliton compression

    DEFF Research Database (Denmark)

    Bache, Morten; Bang, Ole; Krolikowski, Wieslaw;

    2008-01-01

    Cascaded quadratic soliton compressors generate under optimal conditions few-cycle pulses. Using theory and numerical simulations in a nonlinear crystal suitable for high-energy pulse compression, we address the limits to the compression quality and efficiency.......Cascaded quadratic soliton compressors generate under optimal conditions few-cycle pulses. Using theory and numerical simulations in a nonlinear crystal suitable for high-energy pulse compression, we address the limits to the compression quality and efficiency....

  3. Stabilities of Stock States in Chinese Stock Markets

    Science.gov (United States)

    Lim, Gyuchang; Seo, Kyungho; Kim, Soo Yong; Kim, Kyungsik

    We study the evolution of the correlation-based clusters of stocks, which usually accord with business groups. By segmenting the whole time series into several overlapping segments, we trace the dynamical evolution of each business sectors in terms of the multi-factor model and especially treat the stock prices of Shanghai composites that are not incorporated into developed markets of the financial time stock exchange index.

  4. Liquidity and stock returns-evidence from UK stock market

    OpenAIRE

    Le, Dang Thuy Trang

    2013-01-01

    Liquidity has been acknowledged to affect stock returns due to its importance to investors, financial markets, and listed companies. Although there is abundant literature documenting the liquidity-stock returns relationship, results about this relationship are mixed. This might be due to the reasons that liquidity has various meanings and methods of measurements. The purposes of this study are to provide definition of liquidity in relation to stocks, introduce measures of liquidity and examin...

  5. Satellite data compression

    CERN Document Server

    Huang, Bormin

    2011-01-01

    Satellite Data Compression covers recent progress in compression techniques for multispectral, hyperspectral and ultra spectral data. A survey of recent advances in the fields of satellite communications, remote sensing and geographical information systems is included. Satellite Data Compression, contributed by leaders in this field, is the first book available on satellite data compression. It covers onboard compression methodology and hardware developments in several space agencies. Case studies are presented on recent advances in satellite data compression techniques via various prediction-

  6. Theoretical preconditions and technical substantiation for mechanical compressed air drying method application on the railway transport

    Directory of Open Access Journals (Sweden)

    Tatiana RIPOL’-SARAGOSI

    2009-01-01

    Full Text Available The article is related to the compressed air purification for the rolling stock problems. The mechanical method is described as a potential way of the compressed air cooling and purificating. The temperature field at the heat conducting surface engineer function equation is given in the article as well.

  7. Metal Returns, Stock Returns and Stock Market Volatility

    Directory of Open Access Journals (Sweden)

    Mauricio Zevallos

    2015-08-01

    Full Text Available Given the extensive participation of mining stocks in the Peruvian stock market, the Lima Stock Exchange (BVL provides an ideal setting for exploring both the impact of metal returns on mining stock returns and stock market volatility, and the comovements between mining stock returns and metal returns. This research is a first attempt to explore these issues using international metal prices and the prices of the most important mining stocks on the BVL and the IGBVL index. To achieve this, we use univariate GARCH models to model individual volatilities, and the Exponentially Weighted Moving Average (EWMA method and multivariate GARCH models with time-varying correlations to model comovements in returns. We found that Peruvian mining stock volatilities mimic the behavior of metal volatilities and that there are important correlation levels between metals and mining stock returns. In addition, we found time-varying correlations with distinctive behavior in different periods, with rises potentially related to international and local historical events.

  8. Evolutionary model of stock markets

    Science.gov (United States)

    Kaldasch, Joachim

    2014-12-01

    The paper presents an evolutionary economic model for the price evolution of stocks. Treating a stock market as a self-organized system governed by a fast purchase process and slow variations of demand and supply the model suggests that the short term price distribution has the form a logistic (Laplace) distribution. The long term return can be described by Laplace-Gaussian mixture distributions. The long term mean price evolution is governed by a Walrus equation, which can be transformed into a replicator equation. This allows quantifying the evolutionary price competition between stocks. The theory suggests that stock prices scaled by the price over all stocks can be used to investigate long-term trends in a Fisher-Pry plot. The price competition that follows from the model is illustrated by examining the empirical long-term price trends of two stocks.

  9. Universality in the stock exchange

    CERN Document Server

    Gonçalves, Rui

    2008-01-01

    We analyze the constituents stocks of the Dow Jones Industrial Average and the Standard & Poor's 100 index of the NYSE stock exchange market. Surprisingly, we discovered that the distribution of the fluctuations of the cubic root of the squared daily return are close to the universal non-parametric Bramwell-Holdsworth-Pinton (BHP) distribution. Since the BHP probability density function appears in several other dissimilar phenomena, our result reveals an universal feature of the stock exchange market.

  10. Stock Repurchases and Incentive Compensation

    OpenAIRE

    Christine Jolls

    1998-01-01

    A longstanding puzzle in corporate finance is the rise of stock repurchases as a means of distributing earnings to shareholders. While most attempts to explain repurchase behavior focus on the incentives of firms, this paper focuses on the incentives of the agents who run firms, as determined by those agents' compensation packages. The increased use of repurchases coincided with an increasing reliance on stock options to compensate top managers, and stock options encourage managers to choose ...

  11. Axial Compressive Strength of Foamcrete with Different Profiles and Dimensions

    Directory of Open Access Journals (Sweden)

    Othuman Mydin M.A.

    2014-01-01

    Full Text Available Lightweight foamcrete is a versatile material; primarily consist of a cement based mortar mixed with at least 20% volume of air. High flow ability, lower self-weight, minimal requirement of aggregate, controlled low strength and good thermal insulation properties are a few characteristics of foamcrete. Its dry densities, typically, is below 1600kg/m3 with compressive strengths maximum of 15MPa. The ASTM standard provision specifies a correction factor for concrete strengths of between 14 and 42MPa to compensate for the reduced strength when the aspect height-to-diameter ratio of specimen is less than 2.0, while the CEB-FIP provision specifically mentions the ratio of 150 x 300mm cylinder strength to 150 mm cube strength. However, both provisions requirements do not specifically clarify the applicability and/or modification of the correction factors for the compressive strength of foamcrete. This proposed laboratory work is intended to study the effect of different dimensions and profiles on the axial compressive strength of concrete. Specimens of various dimensions and profiles are cast with square and circular cross-sections i.e., cubes, prisms and cylinders, and to investigate their behavior in compression strength at 7 and 28 days. Hypothetically, compressive strength will decrease with the increase of concrete specimen dimension and concrete specimen with cube profile would yield comparable compressive strength to cylinder (100 x 100 x 100mm cube to 100dia x 200mm cylinder.

  12. 12 CFR 925.23 - Excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Excess stock. 925.23 Section 925.23 Banks and... BANKS Stock Requirements § 925.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of this section, a member may purchase excess stock as long as the purchase is approved by...

  13. 12 CFR 925.20 - Stock purchase.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Stock purchase. 925.20 Section 925.20 Banks and... BANKS Stock Requirements § 925.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase... outstanding advances. (b) Timing of minimum stock purchase. (1) Within 60 calendar days after an...

  14. 2008 Stock Market Rhapsody

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    In early 2007,spring chickens lined up to register for trading in the booming stock market.In the beginning of 2008, salespeople of securities companies spread their counters on street comers to market their companies to random passersby. The U.S.subprime mortgage crisis swept the whole world and no countries were lucky enough to escape it. The benchmark Shanghai Composite Index plunged 7.22 percent on January 22, the biggest drop so far this year,and de- voured all the increases since August 2007.

  15. Information theory in econophysics: stock market and retirement funds

    Science.gov (United States)

    Vogel, Eugenio; Saravia, G.; Astete, J.; Díaz, J.; Erribarren, R.; Riadi, F.

    2013-03-01

    Information theory can help to recognize magnetic phase transitions, what can be seen as a way to recognize different regimes. This is achieved by means of zippers specifically designed to compact data in a meaningful way at is the case for compressor wlzip. In the present contribution we first apply wlzip to the Chilean stock market interpreting the compression rates for the files storing the minute variation of the IPSA indicator. Agitated days yield poor compression rates while calm days yield high compressibility. We then correlate this behavior to the value of the five retirement funds related to the Chilean economy. It is found that the covariance between the profitability of the retirement funds and the compressibility of the IPSA values of previous day is high for those funds investing in risky stocks. Surprisingly, there seems to be no great difference among the three riskier funds contrary to what could be expected from the limitations on the portfolio composition established by the laws that regulate this market.

  16. Stock Returns, Volatility, and Cointegration among Chinese Stock Markets

    Institute of Scientific and Technical Information of China (English)

    QiZhou; ZhongguoZhou

    2005-01-01

    This paper examines stock returns, volatility, and cointegration among three Chinese stock markets before and after Hong Kong's return to China. The average daily returns are much higher during the first sub-period (from April 1991 to June 1997) and significantly lower or even negative during the second sub-period (from July 1997 to December 2002). The mean adjusted change in volatility is negatively and significantly correlated with the lagged returns. This negative relation is mainly caused by a contemporaneous and significantly positive correlation between returns and volatility in the first sub-period. This significant relationship disappears for the Shanghai and Shenzhen Stock Exchanges and is even negative for the Hong Kong Stock Exchange during the second sub-period. Three Chinese stock markets are cointegrated over the entire sample period and become more closely related after Hong Kong's return to China. Our results have important implications for both policy makers and individual investors.

  17. Stochastic dynamical model for stock-stock correlations.

    Science.gov (United States)

    Ma, Wen-Jong; Hu, Chin-Kun; Amritkar, Ravindra E

    2004-08-01

    We propose a model of coupled random walks for stock-stock correlations. The walks in the model are coupled via a mechanism that the displacement (price change) of each walk (stock) is activated by the price gradients over some underlying network. We assume that the network has two underlying structures, describing the correlations among the stocks of the whole market and among those within individual groups, respectively, each with a coupling parameter controlling the degree of correlation. The model provides the interpretation of the features displayed in the distribution of the eigenvalues for the correlation matrix of real market on the level of time sequences. We verify that such modeling indeed gives good fitting for the market data of US stocks.

  18. A Dea-Cascor Model for High-Frequency Stock Trading:Computational Experiments in the U.S.Stock Market

    Directory of Open Access Journals (Sweden)

    Alexander Vaninsky

    2010-09-01

    Full Text Available The paper presents results of computer-assisted portfolio management simulation based on using a DEACascormathematical model. The model uses the Data Envelopment Analysis (DEA ratio as a neuronwith memory and combines it with Cascade Correlation Neural Network (Cascor to forecast stockprices. The model is designed for using in high-frequency stock trading. It utilizes ability of DEA toconcentrate multi-faceted information in one indicator scaled to the interval [0,1], a DEA efficiencyindex, and is aimed to compress market information. Cascor combines data of several consecutiveperiods using its flexible structure and generates a buy - sell strategy. The paper presents results of thesimulation of a 50-stock portfolio during a period of 60 consecutive trade days chosen during one of themost problematic period of the U.S. stock market operation. Obtained results allow for optimismregarding its practical use for high-frequency stock trading provided availability of a convenientcomputer – based support.

  19. Scaling analysis of stock markets

    Science.gov (United States)

    Bu, Luping; Shang, Pengjian

    2014-06-01

    In this paper, we apply the detrended fluctuation analysis (DFA), local scaling detrended fluctuation analysis (LSDFA), and detrended cross-correlation analysis (DCCA) to investigate correlations of several stock markets. DFA method is for the detection of long-range correlations used in time series. LSDFA method is to show more local properties by using local scale exponents. DCCA method is a developed method to quantify the cross-correlation of two non-stationary time series. We report the results of auto-correlation and cross-correlation behaviors in three western countries and three Chinese stock markets in periods 2004-2006 (before the global financial crisis), 2007-2009 (during the global financial crisis), and 2010-2012 (after the global financial crisis) by using DFA, LSDFA, and DCCA method. The findings are that correlations of stocks are influenced by the economic systems of different countries and the financial crisis. The results indicate that there are stronger auto-correlations in Chinese stocks than western stocks in any period and stronger auto-correlations after the global financial crisis for every stock except Shen Cheng; The LSDFA shows more comprehensive and detailed features than traditional DFA method and the integration of China and the world in economy after the global financial crisis; When it turns to cross-correlations, it shows different properties for six stock markets, while for three Chinese stocks, it reaches the weakest cross-correlations during the global financial crisis.

  20. Scaling analysis of stock markets.

    Science.gov (United States)

    Bu, Luping; Shang, Pengjian

    2014-06-01

    In this paper, we apply the detrended fluctuation analysis (DFA), local scaling detrended fluctuation analysis (LSDFA), and detrended cross-correlation analysis (DCCA) to investigate correlations of several stock markets. DFA method is for the detection of long-range correlations used in time series. LSDFA method is to show more local properties by using local scale exponents. DCCA method is a developed method to quantify the cross-correlation of two non-stationary time series. We report the results of auto-correlation and cross-correlation behaviors in three western countries and three Chinese stock markets in periods 2004-2006 (before the global financial crisis), 2007-2009 (during the global financial crisis), and 2010-2012 (after the global financial crisis) by using DFA, LSDFA, and DCCA method. The findings are that correlations of stocks are influenced by the economic systems of different countries and the financial crisis. The results indicate that there are stronger auto-correlations in Chinese stocks than western stocks in any period and stronger auto-correlations after the global financial crisis for every stock except Shen Cheng; The LSDFA shows more comprehensive and detailed features than traditional DFA method and the integration of China and the world in economy after the global financial crisis; When it turns to cross-correlations, it shows different properties for six stock markets, while for three Chinese stocks, it reaches the weakest cross-correlations during the global financial crisis.

  1. Analysis of Economic Factors Affecting Stock Market

    OpenAIRE

    Xie, Linyin

    2010-01-01

    This dissertation concentrates on analysis of economic factors affecting Chinese stock market through examining relationship between stock market index and economic factors. Six economic variables are examined: industrial production, money supply 1, money supply 2, exchange rate, long-term government bond yield and real estate total value. Stock market comprises fixed interest stocks and equities shares. In this dissertation, stock market is restricted to equity market. The stock price in thi...

  2. Distribution characteristics of stock market liquidity

    Science.gov (United States)

    Luo, Jiawen; Chen, Langnan; Liu, Hao

    2013-12-01

    We examine the distribution characteristics of stock market liquidity by employing the generalized additive models for location, scale and shape (GAMLSS) model and three-minute frequency data from Chinese stock markets. We find that the BCPE distribution within the GAMLSS framework fits the distributions of stock market liquidity well with the diagnosis test. We also find that the stock market index exhibits a significant impact on the distributions of stock market liquidity. The stock market liquidity usually exhibits a positive skewness, but a normal distribution at a low level of stock market index and a high-peak and fat-tail shape at a high level of stock market index.

  3. Online stock trading platform

    Directory of Open Access Journals (Sweden)

    Ion LUNGU

    2006-01-01

    Full Text Available The Internet is the perfect tool that can assure the market’s transparency for any user who wants to trade on the stock market. The investor can have access to the market news, financial calendar or the press releases of the issuers. A good online trading platform also provides real-time intraday quotes, trading history and technical analysis giving the investor a clearer view of the supply and demand in the market. All this information provides the investor a good image of the market and encourages him to trade. This paper wishes to draft the pieces of an online trading platform and to analyze the impact of developing and implementing one in a brokerage firm.

  4. The Body Stocking

    DEFF Research Database (Denmark)

    Petersen, Louise Ravnløkke Munk; Bang, Anne Louise

    2016-01-01

    This paper is based on a pilot study of six parents’ preferences for baby clothing and their experience of value. We investigate ways in which design aesthetics, material and the senses have an impact on high use frequency aiming to understand longevity as a parameter for sustainability in textiles...... of the Repertory Grid technique and Wardrobe Studies to frame a tangible dialogue enabling the parents to elaborate on personal preferences of design aesthetics and materials in baby clothing. In the analysis we use the body stocking as a common reference point for learning about reasons for high use frequency...... and clothing. We take as a starting point that longevity has a significant impact on furthering sustainability in textiles and clothing since it can be a driver on many levels, e.g. new business models, decisions made in the design phase and/or changes in use and consumption. The study applies variations...

  5. Geo-Financial Association of Ukrainian Stock Market with European Stock Exchanges: Modern Trends

    Directory of Open Access Journals (Sweden)

    Olena Slozko

    2015-06-01

    Full Text Available The paper investigates geo-financial association of Ukrainian stock market within the system of European stock exchange mechanisms. It analyzes current trends on Ukrainian stock exchanges and aims at considering and drawing possible ways and paths for integrating the Ukrainian stock market into the European stock exchange market framework. The authors believe that IT network is a strong background for further sustainable transformation of Ukrainian stock market and its consolidation with the EU stock market.

  6. Application of high OLR-fed aerobic granules for the treatment of low-strength wastewater: Performance, granule morphology and microbial community

    Institute of Scientific and Technical Information of China (English)

    Jingyun Ma; Xiangchun Quan; Huai Li

    2013-01-01

    Aerobic granules,pre-cultivated at the organic loading rate (OLR) of 3.0 kg COD/(m3·day),were used to treat low-strength wastewater in two sequencing batch reactors at low OLRs of 1.2 and 0.6 kg COD/(m3·day),respectively.Reactor performance,evolution of granule morphology,structure and microbial community at low OLRs under long-term operation (130 days) were investigated.Results showed that low OLRs did not cause significant damage to granule structure as a dominant granule morphology with size over 540 μm was maintained throughout the operation.Aerobic granules at sizes of about 750 μm were finally obtained at the low OLRs.The granule reactors operated at low OLRs demonstrated effective COD and ammonia removals (above 90%),smaller granule sizes and less biomass.The contents of extracellular polymeric substances in the granules were decreased while the ratios of exopolysaccharide/exoprotein were increased (above 1.0).The granules cultivated at the low OLRs showed a smoother surface and more compact structure than the seeded granules.A significant shift in microbial community was observed but the microbial diversity remained relatively stable.Confocal Laser Scanning Microscopy observation showed that the live cells were spread throughout the whole granule,while the dead cells were mainly concentrated in the outer layer of the granule,and the proteins,polysaccharides and lipids were mainly located in the central regime of the granule.In conclusion,granules cultivated at high OLRs show potential for treating low-strength organic wastewater steadily under long-term operation.

  7. Stock Market Liquidity: A Case Study of Karachi Stock Exchange

    Directory of Open Access Journals (Sweden)

    Hakim Ali Kanasro

    2009-06-01

    Full Text Available A market is to be considered as liquid when large transactions are executed with a small impact on price. This paper identifies the position of stock market liquidity at Karachi Stock Exchange (KSE during the period from 1985 to 2006. The analysis is based on using annual data of the listed firms at KSE and the data available on economic survey of the Government of Pakistan and other sources. For measurements of liquidity at KSE we have used three measuring tools as; Liquidity Analysis, Turnover Ratio and Size of Market to determine the liquidity issues at KSE. We provide the evidences of less stock market liquidity or to say illiquidity at Karachi Stock Exchange during the sample period. Consequently, market is still for behind in its efficiency, especially in liquidity hence it fails to attract new investors. We find that less liquidity causes less synchronicity in prices attracting less inventors and results is low size of market.

  8. Do More Economists Hold Stocks?

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Juanna Schröter; Rangvid, Jesper

    , even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables. We model the stock market participation decision by the probit model......A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other education...

  9. Methods for Predicting Stock Indexes

    Directory of Open Access Journals (Sweden)

    Martha Cecilia García

    2013-11-01

    Full Text Available This paper presents a literature review on methods that have been used in the last two decades to predict Stock Market Indexes. Methods studied range from those enabling to grab the linear characteristics present in the stock market indexes, going through those that focus on non-linear features and finally hybrid methods that are more robust, since they capture linear and non-linear features. In addition, this research includes methods that use macroeconomic variables to predict indexes from different stock exchanges around the world.

  10. A Compressive Superresolution Display

    KAUST Repository

    Heide, Felix

    2014-06-22

    In this paper, we introduce a new compressive display architecture for superresolution image presentation that exploits co-design of the optical device configuration and compressive computation. Our display allows for superresolution, HDR, or glasses-free 3D presentation.

  11. Will Financial Analysts Mistake Stocks of Good Companies for Good Stocks? Evidence from Taiwan Stock Market

    Directory of Open Access Journals (Sweden)

    I-Ju Chen

    2005-01-01

    Full Text Available It has been shown that the individual or institutional investors rely on the information provided by the financial analysts. A good stock recommended by financial experts is expected to make profit to the investors. However, due to the cognitive biases, the financial analysts or investors are probably confused in the firm characteristics between the good stocks and the stocks of good companies. Good companies are normally inferred to the company that have good managing and operating systems, however, it is usually though to have good returns as good stocks. The future earning forecasts of these good companies may be thus overestimated as compared with the others. Such cognitive biases probably results in improper investment and investment loss. In this study, the reputation survey results for the companies in Taiwan and the corresponding financial data are used to verify the proposed cognitive biases hypothesis. The empirical evidence in this study shows that financial analysts mistake stocks of good companies for good stocks. However, it is also shown that the average one-year buy-and-hold return of these sample firms (including good companies and good stocks is still higher than that of the chosen matching firms.

  12. Microbunching and RF Compression

    Energy Technology Data Exchange (ETDEWEB)

    Venturini, M.; Migliorati, M.; Ronsivalle, C.; Ferrario, M.; Vaccarezza, C.

    2010-05-23

    Velocity bunching (or RF compression) represents a promising technique complementary to magnetic compression to achieve the high peak current required in the linac drivers for FELs. Here we report on recent progress aimed at characterizing the RF compression from the point of view of the microbunching instability. We emphasize the development of a linear theory for the gain function of the instability and its validation against macroparticle simulations that represents a useful tool in the evaluation of the compression schemes for FEL sources.

  13. Expecting a Stock Market Recovery

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    Abundant liquidity is expected to be the mainstay that helps to prop up the nation’s stock markets, according to the Economic Information Daily’s review of financial institutions’ research reports. Excerpts follow.

  14. Disagreement and the Stock Market

    National Research Council Canada - National Science Library

    Hong, Harrison; Stein, Jeremy C

    2007-01-01

    ...); we also see longer-run fundamental reversion—the tendency for "glamour" stocks with high ratios of market value to earnings, cashflows, or book value to deliver weak returns over the subsequent several years...

  15. Venous thrombosis after abdominal surgery. A comparison between subcutaneous heparin and antithrombotic stockings, or both

    DEFF Research Database (Denmark)

    Rasmussen, A; Hansen, P T; Lindholt, J

    1988-01-01

    In an open controlled study, 248 consecutive patients (age more than 40 yrs) admitted for major abdominal surgery were randomized to one of three prophylactic antithrombotic treatments. Eighty-five patients received subcutaneous heparin, 74 patients had graduated compression stockings to the knee...... (TED stockings), and 89 patients had both subcutaneous heparin and stockings. Treatment began on the evening before operation and continued to complete mobilization, or for not less than five days postoperatively. On the fourth or fifth postoperative day, the patients underwent a 99mTc-plasmin test...... of the lower limbs as a test for deep vein thrombosis. There were 29.7% positive tests in the stocking group, 29.4% in the group with heparin prophylaxis, and 25.8% in the combined group. Differences between treatments were not statistically significant....

  16. Hyperspectral data compression

    CERN Document Server

    Motta, Giovanni; Storer, James A

    2006-01-01

    Provides a survey of results in the field of compression of remote sensed 3D data, with a particular interest in hyperspectral imagery. This work covers topics such as compression architecture, lossless compression, lossy techniques, and more. It also describes a lossless algorithm based on vector quantization.

  17. Compressed gas manifold

    Science.gov (United States)

    Hildebrand, Richard J.; Wozniak, John J.

    2001-01-01

    A compressed gas storage cell interconnecting manifold including a thermally activated pressure relief device, a manual safety shut-off valve, and a port for connecting the compressed gas storage cells to a motor vehicle power source and to a refueling adapter. The manifold is mechanically and pneumatically connected to a compressed gas storage cell by a bolt including a gas passage therein.

  18. Compressing Binary Decision Diagrams

    DEFF Research Database (Denmark)

    Hansen, Esben Rune; Satti, Srinivasa Rao; Tiedemann, Peter

    2008-01-01

    The paper introduces a new technique for compressing Binary Decision Diagrams in those cases where random access is not required. Using this technique, compression and decompression can be done in linear time in the size of the BDD and compression will in many cases reduce the size of the BDD to 1...

  19. Compressing Binary Decision Diagrams

    DEFF Research Database (Denmark)

    Rune Hansen, Esben; Srinivasa Rao, S.; Tiedemann, Peter

    The paper introduces a new technique for compressing Binary Decision Diagrams in those cases where random access is not required. Using this technique, compression and decompression can be done in linear time in the size of the BDD and compression will in many cases reduce the size of the BDD to 1...

  20. Compressing Binary Decision Diagrams

    DEFF Research Database (Denmark)

    Hansen, Esben Rune; Satti, Srinivasa Rao; Tiedemann, Peter

    2008-01-01

    The paper introduces a new technique for compressing Binary Decision Diagrams in those cases where random access is not required. Using this technique, compression and decompression can be done in linear time in the size of the BDD and compression will in many cases reduce the size of the BDD to 1...

  1. Persistent collective trend in stock markets

    Science.gov (United States)

    Balogh, Emeric; Simonsen, Ingve; Nagy, Bálint Zs.; Néda, Zoltán

    2010-12-01

    Empirical evidence is given for a significant difference in the collective trend of the share prices during the stock index rising and falling periods. Data on the Dow Jones Industrial Average and its stock components are studied between 1991 and 2008. Pearson-type correlations are computed between the stocks and averaged over stock pairs and time. The results indicate a general trend: whenever the stock index is falling the stock prices are changing in a more correlated manner than in case the stock index is ascending. A thorough statistical analysis of the data shows that the observed difference is significant, suggesting a constant fear factor among stockholders.

  2. Dynamics of Stock Market Correlations

    OpenAIRE

    Dror Y Kenett; Shapira, Yoash; Madi, Asaf; Bransburg-Zabary, Sharron; gur-Gershgoren, Gitit; Ben-Jacob, Eshel

    2010-01-01

    We present a novel approach to the study the dynamics of stock market correlations. This is achieved through an innovative visualization tool that allows an investigation of the structure and dynamics of the market, through the study of correlations. This is based on the Stock Market Holography (SMH) method recently introduced. This qualitative measure is complemented by the use of the eigenvalue entropy measure, to quantify how the information in the market changes in time. Using this innova...

  3. Stock markets liberalization affects volatility?

    OpenAIRE

    Ioan Alin NISTOR; Maria-Lenuţa CIUPAC-ULICI; GHERMAN Mircea-Cristian

    2012-01-01

    Regarding the impact of liberalization, the results show that, in general, market opening is accompanied by a significant increase in market volatility. In particular, volatility tends to decrease due to large capital inflows and domestic growth.The study analyzes the impact of stock market liberalization on volatility in six emerging stock markets by using GARCH methodology. Theory on the effects of financial liberalization on volatility has been ambiguous, and empirical work has yielded con...

  4. Short Interest and Stock Returns

    OpenAIRE

    Paul Asquith; Pathak, Parag A.; Jay R. Ritter

    2004-01-01

    Using a longer time period and both NYSE-Amex and Nasdaq stocks, this paper examines short interest and stock returns in more detail than any previous study and finds that many documented patterns are not robust. While equally weighted high short interest portfolios generally underperform, value weighted portfolios do not. In addition, there is a negative correlation between market returns and short interest over our whole period. Finally, inferences from short time periods, such as 1988-1994...

  5. New Hope for Chinese Stocks

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Many people in recent years have held that investing in the Chinese stock markets posed risks. But remarkable changes have taken place in China's stock markets during the past year, according to Mark De Weaver, a research analyst in Shenzhen who now manages a fund investing in Asian equities called Quantrarian Asia Hedge. According to De Weaver, the changes include split-share and brokerage reforms, a new securities law and more opportunities for qualified foreign investors. His main ideas follow:

  6. Volatility at Karachi Stock Exchange

    OpenAIRE

    Aslam Farid; Javed Ashraf

    1995-01-01

    Frequent “crashes” of the stock market reported during the year 1994 suggest that the Karachi bourse is rapidly converting into a volatile market. This cannot be viewed as a positive sign for this developing market of South Asia. Though heavy fluctuations in stock prices are not an unusual phenomena and it has been observed at almost all big and small exchanges of the world. Focusing on the reasons for such fluctuations is instructive and likely to have important policy implications. Proponen...

  7. Effect of compression therapy on knee swelling and pain after total knee arthroplasty

    DEFF Research Database (Denmark)

    Munk, Stig; Jensen, Niels J. F.; Andersen, Ida Bøgh;

    2013-01-01

    PURPOSE: Knee swelling after total knee arthroplasty may impair postoperative mobilisation and training, and as medical elastic compression stockings are well tolerated and effective to prevent oedema, haematoma and postoperative pain after venous surgery, we wanted to study whether this effect...... could be transferred to total knee arthroplasty surgery reducing postoperative swelling and pain and thereby facilitating mobilisation and improving patient-reported knee function. METHODS: In a randomised controlled study, 88 patients were randomised to use either a medical elastic compression stocking...... or no stocking from the first postoperative day and the following 4 weeks after total knee arthroplasty. Outcome measures were knee, calf and ankle swelling, knee flexion, pain and patient-reported knee function. RESULTS: Seventy per cent of the swelling had occurred before application of the stocking the day...

  8. Business Cycles, Financial Crises, and Stock Volatility

    OpenAIRE

    G. William Schwert

    1989-01-01

    This paper shows that stock volatility increases during recessions and financial crises from 1834-1987. The evidence reinforces the notion that stock prices are an important business cycle indicator. Using two different statistical models for stock volatility, I show that volatility increases after major financial crises. Moreover. stock volatility decreases and stock prices rise before the Fed increases margin requirements. Thus, there is little reason to believe that public policies can con...

  9. Classic Kaposi's sarcoma treated with elastic stockings and outpatient follow-up of a 90-year-old patient.

    Science.gov (United States)

    Trevisan, Flavia; Cunha, Paulo Rowilson; Pinto, Clovis Antonio Lopes; Alves, Celia Antonia Xavier de Moraes

    2013-01-01

    Kaposi's sarcoma is a multifactorial angioproliferative disorder. The herpes virus 8 human contributes to its pathogenesis, but it is uncertain whether these lesions are only reactive hyperplasia to the virus or neoplasia. Four clinical types are described: classic, endemic, iatrogenic and HIV-associated. Classic Kaposi's sarcoma has no standard staging or treatment protocols. Some studies have shown the use of compression stockings in the treatment of lymphedema associated with Kaposi's sarcoma. We report the case of a 90 year-old patient with classic Kaposi's sarcoma treated with compression stockings who showed a satisfactory response.

  10. Classic Kaposi's sarcoma treated with elastic stockings and outpatient follow-up of a 90-year-old patient*

    Science.gov (United States)

    Trevisan, Flavia; Cunha, Paulo Rowilson; Pinto, Clovis Antonio Lopes; Alves, Celia Antonia Xavier de Moraes

    2013-01-01

    Kaposi's sarcoma is a multifactorial angioproliferative disorder. The herpes virus 8 human contributes to its pathogenesis, but it is uncertain whether these lesions are only reactive hyperplasia to the virus or neoplasia. Four clinical types are described: classic, endemic, iatrogenic and HIV-associated. Classic Kaposi's sarcoma has no standard staging or treatment protocols. Some studies have shown the use of compression stockings in the treatment of lymphedema associated with Kaposi's sarcoma. We report the case of a 90 year-old patient with classic Kaposi's sarcoma treated with compression stockings who showed a satisfactory response. PMID:24346919

  11. Hydraulic continuity and biological effects of low strength very low frequency electromagnetic waves: Case of microbial biofilm growth in water treatment.

    Science.gov (United States)

    Gérard, Merlin; Noamen, Omri; Evelyne, Gonze; Eric, Valette; Gilles, Cauffet; Marc, Henry

    2015-10-15

    This study aims to elucidate the interactions between water, subjected to electromagnetic waves of very low frequency (VLF) (kHz) with low strength electromagnetic fields (3.5 mT inside the coils), and the development of microbial biofilms in this exposed water. Experimental results demonstrate that in water exposed to VLF electromagnetic waves, the biomass of biofilm is limited if hydraulic continuity is achieved between the electromagnetic generator and the biofilm media. The measured amount of the biofilm's biomass is approximately a factor two lower for exposed biofilm than the non-exposed biofilm. Measurements of electromagnetic fields in the air and simulations exhibit very low intensities of fields (electromagnetic generator. Exposure to electric and magnetic fields of the quoted intensities cannot explain thermal and ionizing effects on the biofilm. A variable electrical potential with a magnitude close to 20 mV was detected in the tank in hydraulic continuity with the electromagnetic generator. The application of quantum field theory may help to explain the observed effects in this case.

  12. Enhancement of the performance of an anaerobic sequencing batch reactor treating low-strength wastewater through implementation of a variable stirring rate program

    Energy Technology Data Exchange (ETDEWEB)

    Rodrigues, J.A.D.; Pinto, A.G.; Ratusznei, S.M.; Gedraite, R. [Instituto Maua de Tecnologia (IMT), Sao Caetano do Sul, SP (Brazil). Escola de Engenharia. Dept. de Engenharia Quimica e de Alimentos]. E-mail: rodrigues@maua.br; Zaiat, M. [Sao Paulo Univ., Sao Carlos, SP (Brazil). Escola de Engenharia. Dept. de Hidraulica e Saneamento

    2004-09-01

    This work focuses on enhancement of the performance of an anaerobic sequencing batch reactor with a six-vertical-blade-disk-turbine impeller, containing granulated biomass treating low-strength synthetic wastewater, through a study of the feasibility of implementing a variable stirring rate program. The reactor was operated at 30 deg C and a six-hour cycle was used to treat approximately 2.0 L of the synthetic substrate with a chemical oxygen demand (COD) of nearly 500 mg/L. Two different stirring rate program were implemented: a constant rate of 50 rpm and a variable rate consisting of 75 rpm for one hour, 50 rpm for four hours and 25 rpm for 0.5 hour. The last 0.5 hour of the cycle was used for the settling step. In both cases, a very short start-up period and unfiltered and filtered substrate removal efficiencies of 81% and 88%, respectively, were attained. However, use of the variable stirring rate enhanced efficiency of the reactor dynamics without impairing biomass morphology, thus resulting in a reduction in the total cycle time and a possible decrease in energy consumption. Additionally, a simplified model of the anaerobic metabolic activity, using apparent kinetic parameters, was proposed as a consecutive first-order kinetic model with substrate and total volatile acid residual concentrations in order to analyze how the variable stirring rate affects reactor performance. (author)

  13. High-throughput sequencing-based microbial characterization of size fractionated biomass in an anoxic anammox reactor for low-strength wastewater at low temperatures.

    Science.gov (United States)

    Liu, Wenru; Yang, Dianhai; Chen, Wenjing; Gu, Xiao

    2017-05-01

    The microbial characterization of three size-fractionated sludge obtained from a suspended-growth anoxic anammox reactor treating low-strength wastewater at low temperatures were investigated by using high-throughput sequencing. Particularly, the spatial variability in relative abundance of microorganisms involved in nitrogen metabolism were analyzed in detail. Results showed that population segregation did occur in the reactor. It was found, for the first time, that the genus Nitrotoga was enriched only in large granules (>400μm). Three anammox genus including Candidatus Jettenia, Brocadia and Kuenenia were detected. Among them, Candidatus Brocadia and Kuenenia preferred to grow in large-sized granules (>400μm), whereas Candidatus Jettenia dominated in small- and moderate-sized sludge (<400μm). The members of genus Candidatus Jettenia appeared to play the vital role in nitrogen removal, since sludge with diameters smaller than 400μm accounted for 81.55% of the total biomass. However, further studies are required to identify the activity of different-size sludge.

  14. Start-up of single-stage partial nitrification-anammox process treating low-strength swage and its restoration from nitrate accumulation.

    Science.gov (United States)

    Miao, Yuanyuan; Zhang, Liang; Yang, Yandong; Peng, Yongzhen; Li, Baikun; Wang, Shuying; Zhang, Qian

    2016-10-01

    A single-stage partial nitrification-anammox (PN/A) reactor treating low-strength swage was operated for 288days to investigate the recovery of nitrogen removal from nitrate accumulation. The reactor was quickly started up by inoculating anammox sludge. However, nitrite oxidizing bacteria (NOB) abundance gradually increased on day 25, leading to high effluent nitrate concentration. Two strategies were executed to control the effluent nitrate. In strategy I, dissolved oxygen (DO) concentration was kept low (0.17±0.08mg/L), but nitrate production increased from 4.71 to 38.18mg-N/L. In strategy II, intermittent aeration operation mode (aeration 7min/anoxic 21min) was adopted, which significantly lowered the nitrate concentration to 1.3mg-N/L, indicating the NOB was inhibited. The high nitrogen removal rate of 73mg-N/(L·d) was achieved. The evolution of bacterial activity and abundance verified the changes of the nitrogen removal performance and proved the intermittent aeration strategy could successfully solve the problem of nitrate build-up in the PN/A process.

  15. Integrating microbial fuel cells with anaerobic acidification and forward osmosis membrane for enhancing bio-electricity and water recovery from low-strength wastewater.

    Science.gov (United States)

    Liu, Jinmeng; Wang, Xinhua; Wang, Zhiwei; Lu, Yuqin; Li, Xiufen; Ren, Yueping

    2017-03-01

    Microbial fuel cells (MFCs) and forward osmosis (FO) are two emerging technologies with great potential for energy-efficient wastewater treatment. In this study, anaerobic acidification and FO membrane were simultaneously integrated into an air-cathode MFC (AAFO-MFC) for enhancing bio-electricity and water recovery from low-strength wastewater. During a long-term operation of approximately 40 days, the AAFO-MFC system achieved a continuous and relatively stable power generation, and the maximum power density reached 4.38 W/m(3). The higher bio-electricity production in the AAFO-MFC system was mainly due to the accumulation of ethanol resulted from anaerobic acidification process and the rejection of FO membrane. In addition, a proper salinity environment in the system controlled by the addition of MF membrane enhanced the electricity production. Furthermore, the AAFO-MFC system produced a high quality effluent, with the removal rates of organic matters and total phosphorus of more than 97%. However, the nitrogen removal was limited for the lower rejection of FO membrane. The combined biofouling and inorganic fouling were responsible for the lower water flux of FO membrane, and the Desulfuromonas sp. utilized the ethanol for bio-electricity production was observed in the anode. These results substantially improve the prospects for simultaneous wastewater treatment and energy recovery, and further studies are needed to optimize the system integration and operating parameters. Copyright © 2016 Elsevier Ltd. All rights reserved.

  16. Gold versus stock investment: An econometric analysis

    Directory of Open Access Journals (Sweden)

    Martin Surya Mulyadi

    2012-06-01

    Full Text Available It is important to have a portfolio in investment to diversify the investment to different kinds of instruments. Based on previous research, it is concluded that gold is a good portfolio diversifier, a hedge against stock and safe haven in extreme stock market condition. As an investment instrument, stock is exposed to macroeconomic risks and global stock market risks. In this research, we conduct a comparison between the stock investment and gold investment by using the probit econometric model and data from 1997 to 2011. The final result obtained from the model shows that the gold investment is more advantageous than the stock investment.

  17. Lossless Medical Image Compression

    Directory of Open Access Journals (Sweden)

    Nagashree G

    2014-06-01

    Full Text Available Image compression has become an important process in today‟s world of information exchange. Image compression helps in effective utilization of high speed network resources. Medical Image Compression is very important in the present world for efficient archiving and transmission of images. In this paper two different approaches for lossless image compression is proposed. One uses the combination of 2D-DWT & FELICS algorithm for lossy to lossless Image Compression and another uses combination of prediction algorithm and Integer wavelet Transform (IWT. To show the effectiveness of the methodology used, different image quality parameters are measured and shown the comparison of both the approaches. We observed the increased compression ratio and higher PSNR values.

  18. Do Earthquakes Shake Stock Markets?

    Science.gov (United States)

    Ferreira, Susana; Karali, Berna

    2015-01-01

    This paper examines how major earthquakes affected the returns and volatility of aggregate stock market indices in thirty-five financial markets over the last twenty years. Results show that global financial markets are resilient to shocks caused by earthquakes even if these are domestic. Our analysis reveals that, in a few instances, some macroeconomic variables and earthquake characteristics (gross domestic product per capita, trade openness, bilateral trade flows, earthquake magnitude, a tsunami indicator, distance to the epicenter, and number of fatalities) mediate the impact of earthquakes on stock market returns, resulting in a zero net effect. However, the influence of these variables is market-specific, indicating no systematic pattern across global capital markets. Results also demonstrate that stock market volatility is unaffected by earthquakes, except for Japan.

  19. Celiac Artery Compression Syndrome

    Directory of Open Access Journals (Sweden)

    Mohammed Muqeetadnan

    2013-01-01

    Full Text Available Celiac artery compression syndrome is a rare disorder characterized by episodic abdominal pain and weight loss. It is the result of external compression of celiac artery by the median arcuate ligament. We present a case of celiac artery compression syndrome in a 57-year-old male with severe postprandial abdominal pain and 30-pound weight loss. The patient eventually responded well to surgical division of the median arcuate ligament by laparoscopy.

  20. The Difference Between Stock Splits and Stock Dividends - Evidence from Denmark

    DEFF Research Database (Denmark)

    Raaballe, Johannes; Bechmann, Ken L.

    2007-01-01

    a retained earnings/signaling hypothesis. For stock splits, no separate announcement effect was found when a firm's payout policy was controlled for. This lends support to the idea that a stock split per se is a cosmetic event on the CSE and is also consistent with the fact that making a stock split......This paper investigates stock dividends and stock splits on the Copenhagen Stock Exchange (CSE), which is of interest because several of the more recent explanations for a stock market reaction can be ruled out. The main findings are that the announcement effect of stock dividends as well as stock...... splits is closely related to changes in a firm's payout policy, but that the relationship differs for the two types of events. A stock dividend implies an increase in nominal share capital and hence a decrease in retained earnings. Firms announcing stock dividends finance growth entirely by debt...

  1. The Difference Between Stock Splits and Stock Dividends - Evidence from Denmark

    DEFF Research Database (Denmark)

    Raaballe, Johannes; Bechmann, Ken L.

    2007-01-01

    a retained earnings/signaling hypothesis. For stock splits, no separate announcement effect was found when a firm's payout policy was controlled for. This lends support to the idea that a stock split per se is a cosmetic event on the CSE and is also consistent with the fact that making a stock split......This paper investigates stock dividends and stock splits on the Copenhagen Stock Exchange (CSE), which is of interest because several of the more recent explanations for a stock market reaction can be ruled out. The main findings are that the announcement effect of stock dividends as well as stock...... splits is closely related to changes in a firm's payout policy, but that the relationship differs for the two types of events. A stock dividend implies an increase in nominal share capital and hence a decrease in retained earnings. Firms announcing stock dividends finance growth entirely by debt...

  2. Compressed sensing & sparse filtering

    CERN Document Server

    Carmi, Avishy Y; Godsill, Simon J

    2013-01-01

    This book is aimed at presenting concepts, methods and algorithms ableto cope with undersampled and limited data. One such trend that recently gained popularity and to some extent revolutionised signal processing is compressed sensing. Compressed sensing builds upon the observation that many signals in nature are nearly sparse (or compressible, as they are normally referred to) in some domain, and consequently they can be reconstructed to within high accuracy from far fewer observations than traditionally held to be necessary. Apart from compressed sensing this book contains other related app

  3. Wavelet image compression

    CERN Document Server

    Pearlman, William A

    2013-01-01

    This book explains the stages necessary to create a wavelet compression system for images and describes state-of-the-art systems used in image compression standards and current research. It starts with a high level discussion of the properties of the wavelet transform, especially the decomposition into multi-resolution subbands. It continues with an exposition of the null-zone, uniform quantization used in most subband coding systems and the optimal allocation of bitrate to the different subbands. Then the image compression systems of the FBI Fingerprint Compression Standard and the JPEG2000 S

  4. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital......We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on current...

  5. Do Stock Markets move together?

    OpenAIRE

    Xu, Nianlong

    2012-01-01

    In this paper, the purpose of this dissertation is to analyze the co-movements among Chinese, Hong Kong, the United States and Japanese stock market. This dissertation provides evidences to support the hypothesis that there may be long-term benefits for Chinese investors to diversify in the international equity markets. The evidences are based on the data from the stock markets of the United States, Hong Kong, China and Japan over the period of 1st January 2007 to 31st December 2011. Time...

  6. A study on the effect of stock liquidity and stock liquidity risk on information asymmetry: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohammad Hassani

    2014-05-01

    Full Text Available This study investigates the effect of stock liquidity and stock liquidity risk on information asymmetry in Tehran Stock Exchange (TSE listed companies. In this study, the bid-ask spread is considered as the criterion of information asymmetry. In addition, stock trade volume and the number of stock trades are considered as the criteria of stock liquidity. Some variables such as size, stock price, beta and growth are also considered as control variables. To test the hypotheses of the survey, 202 TSE listed companies over the period 2007-2012 are considered based on the multiple regression (Panel method. The evidence shows that both proposed criteria, stock liquidity criterion as well as the stock trade volume and the number of stock trades, had negative effects on information asymmetry, but this effect is not statistically meaningful. In addition, evidence shows that stock liquidity risk had positive effect on information asymmetry, which is statistically meaningful. Research results also show that firm size and beta had positive and meaningful effects on information asymmetry. Finally, the results show that growth and stock price had negative meaningful effects on information asymmetry.

  7. Stock Market Expectations of Dutch Households.

    Science.gov (United States)

    Hurd, Michael; van Rooij, Maarten; Winter, Joachim

    2011-04-01

    Despite its importance for the analysis of life-cycle behavior and, in particular, retirement planning, stock ownership by private households is poorly understood. Among other approaches to investigate this puzzle, recent research has started to elicit private households' expectations of stock market returns. This paper reports findings from a study that collected data over a two-year period both on households' stock market expectations (subjective probabilities of gains or losses) and on whether they own stocks. We document substantial heterogeneity in financial market expectations. Expectations are correlated with stock ownership. Over the two years of our data, stock market prices increased, and expectations of future stock market price changes also increased, lending support to the view that expectations are influenced by recent stock gains or losses.

  8. Arbitrage and Volatility in Chinese Stock's Markets

    Science.gov (United States)

    Lu, Shu Quan; Ito, Takao; Zhang, Jianbo

    From the point of view of no-arbitrage pricing, what matters is how much volatility the stock has, for volatility measures the amount of profit that can be made from shorting stocks and purchasing options. With the short-sales constraints or in the absence of options, however, high volatility is likely to mean arbitrage from stock market. As emerging stock markets for China, investors are increasingly concerned about volatilities of Chinese two stock markets. We estimate volatility's models for Chinese stock markets' indexes using Markov chain Monte Carlo (MCMC) method and GARCH. We find that estimated values of volatility parameters are very high for all data frequencies. It suggests that stock returns are extremely volatile even at long term intervals in Chinese markets. Furthermore, this result could be considered that there seems to be arbitrage opportunities in Chinese stock markets.

  9. STOCK MARKET VOLATILITY: DEVELOPED AND EMERGING MARKETS

    National Research Council Canada - National Science Library

    Mohammad Athar Noor; Mohd Asif Khan

    2012-01-01

      This paper examines the general patterns of recent global stock market returns and the volatility of such returns using 17 global stock indexes of countries classified into developed and emerging...

  10. The revision of classical stock model

    Institute of Scientific and Technical Information of China (English)

    YE Bai-qing; WANG Hong-li

    2001-01-01

    On the basis of the analysis of classical stock model, according to th e limitation of the model, the article puts forward the revision of classical mo del and enforces the applicability of the stock model.

  11. The revision of classical stock model

    Institute of Scientific and Technical Information of China (English)

    叶柏青; 王洪利

    2001-01-01

    On the basis of the analysis of classical stock model, according to the limitation of the model, the article puts forward the revision of classical model and enforces the applicability of the stock model.

  12. Profitability of Contrarian Strategies in the Chinese Stock Market

    National Research Council Canada - National Science Library

    Shi, Huai-Long; Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2015-01-01

    This paper reexamines the profitability of loser, winner and contrarian portfolios in the Chinese stock market using monthly data of all stocks traded on the Shanghai Stock Exchange and Shenzhen Stock...

  13. Integrated Microbial Electrolysis Cell (MEC) with an anaerobic Membrane Bioreactor (MBR) for low strength wastewater treatment, energy harvesting and water reclamation

    KAUST Repository

    Jimenez Sandoval, Rodrigo J.

    2013-11-01

    Shortage of potable water is a problem that affects many nations in the world and it will aggravate in a near future if pertinent actions are not carried out. Decrease in consumption, improvements in water distribution systems to avoid losses and more efficient water treatment processes are some actions that can be implemented to attack this problem. Membrane technology and biological processes are used in wastewater treatment to achieve high water quality standards. Some other technologies, besides water treatment, attempt to obtain energy from organic wastes present in water. In this study, a proof-of-concept was accomplished demonstrating that a Microbial Electrolysis Cell can be fully integrated with a Membrane Bioreactor to achieve wastewater treatment and harvest energy. Conductive hollow fiber membranes made of nickel functioned as both filter material for treated water reclamation and as a cathode to catalyze hydrogen production reaction. The produced hydrogen was subsequently converted into methane by hydrogenotrophic methanogens. Organic removal was 98.9% irrespective of operation mode. Maximum volumetric hydrogen production rate was 0.2 m3/m3d, while maximum current density achieved was 6.1 A/m2 (based on cathode surface area). Biofouling, an unavoidable phenomenon in traditional MBRs, can be minimized in this system through self-cleaning approach of hybrid membranes by hydrogen production. The increased rate of hydrogen evolution at high applied voltage (0.9 V) reduces the membrane fouling. Improvements can be done in the system to make it as a promising net energy positive technology for the low strength wastewater treatment.

  14. Validating Virtual Safety Stock Effectiveness through Simulation

    Directory of Open Access Journals (Sweden)

    Maria Elena Nenni

    2013-08-01

    safety stock effectiveness through simulation in an inventory system using a base stock policy with periodic reviews and backorders. This approach can be useful for researchers as well as practitioners who want to model the behaviour of an inventory system under uncertain conditions and verify the opportunity for setting up a virtual safety stock on top of, or instead of, the traditional physical safety stock.

  15. Global Portfolio Diversification with Emerging Stock Markets

    Directory of Open Access Journals (Sweden)

    İlhan Meriç

    2016-02-01

    Full Text Available Because of their low correlation with each other and with developed stock markets, emerging stock markets are generally mentioned as attractive portfolio diversification prospects for global investors. In this paper, we use the Principal Components Analysis (PCA method to study the global portfolio diversification opportunities for the investors of seven developed stock markets in twenty emerging stock markets with data for the January 1, 2003-January 1, 2014 period.

  16. Stock Market Equilibrium and Macroeconomic Fundamentals

    OpenAIRE

    Lamin Y Leigh

    1997-01-01

    This paper examines the efficiency of the Stock Exchange of Singapore and the relationship between the stock market and the overall economy. Using a wide range of methods for testing market efficiency, the paper establishes that the Singapore stock market is both “weakly” and “semi-strongly” efficient in asset-pricing terms but not “strongly” efficient. Granger causality tests based on the efficiency test results indicate that developments in the stock market appear to be systematically relat...

  17. Heat integrated recovery process of low strength DMF waste water%低浓度DMF废水的热集成回收新工艺

    Institute of Scientific and Technical Information of China (English)

    孙钦鹤; 胡仰栋; 伍联营

    2012-01-01

    针对普通精馏回收低浓度废水中的DMF能耗高问题,本文提出了6种热集成节能方案,尽可能充分利用各物流的潜热和显热,以期达到降低能耗的目的;1)初始三效精馏工艺;2)增加多级进料预热器的三效精馏; 3)四效精馏工艺;4)带热泵的三效精馏;5)单塔热泵精馏;6)改进的单塔热泵精馏.并应用Aspen Plus流程模拟软件对6种节能方案进行了模拟计算.结果表明:对于低浓度DMF废水体系,多效精馏和热泵精馏与普通单塔精馏相比,均有显著的节能效果;增加多级进料预热系统,充分利用物流的潜热和显热,能耗明显降低;四效精馏与增加多级进料预热器的三效精馏节能效果相当;热泵精馏比多效精馏更加节能;改进的单塔热泵精馏最节能,节能率达到79%,每小时仅需3.6 t的低压蒸汽,就可处理10t的废水,回收0.5 t的DMF.六种节能方案比普通精馏节省约37.1%、47.6%、47.2%、67.9%、73.3%、79.0%的能耗.本文的研究结果对老装置的改造和新装置的设计有一定的指导意义.%Because of the high energy consumption for the recovery of DMF from low-strength wastewater by ordinary distillation, six new heat integrated energy-saving schemes were proposed, which made use of the logistics of latent heat and sensible heat as much as possible for the purpose of reducing energy consumption. 1) initial there-effect distillation; 2) using multi-stage feed preheaters; 3) using four-effect distillation; 4) three-effect distillation with heat pump; 5) single column with heat pump distillation; 6) improved scheme on the basis of scheme 5. Then the six schemes were simulated and optimized by the software Aspen Plus. The simulation results indicate that for the low strength of DMF wastewater system, multi-effect distillation and heat pump distillation, compared with ordinary single-tower distillation, show an efficient energy saving effect. Adding multi

  18. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF... § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The exchange, without...

  19. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES Common Nontaxable Exchanges § 1.1036-1 Stock for stock of the same corporation. (a) Section 1036 permits the exchange, without the recognition of gain or loss, of common...

  20. Stock-market efficiency in thin-trading markets : the case of the Vietnamese stock market

    NARCIS (Netherlands)

    Truong Dong Loc, [No Value; Lanjouw, Ger; Lensink, Robert

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article

  1. Stock Market Efficiency in Thin Trading Markets: The Case of the Vietnamese Stock Market

    NARCIS (Netherlands)

    Dong Loc, T.; Lanjouw, G.; Lensink, B.W.

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article

  2. Stock Market Efficiency in Thin Trading Markets: The Case of the Vietnamese Stock Market

    NARCIS (Netherlands)

    Dong Loc, T.; Lanjouw, G.; Lensink, B.W.

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article focu

  3. Lessons From a Stock Tumble

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    China’s bullish stock market survived a startling 'correction,' when the benchmark Shanghai Composite Index witnessed a 15-percent drop from May 30 to June 5 this year. Zhao Xiao, professor at the University of Science and Technology Beijing, calls for a

  4. Oil risk in oil stocks

    NARCIS (Netherlands)

    Scholtens, Bert; Wang, L

    2008-01-01

    We assess the oil price sensitivities and oil risk premiums of NYSE listed oil & gas firms' returns by using a two-step regression analysis under two different arbitrage pricing models. Thus, we apply the Fama and French (1992) factor returns in a study of oil stocks. In all, we find that the return

  5. TRACEABILITY IN STOCK MANAGEMENT SYSTEMS

    OpenAIRE

    Demian Horia

    2009-01-01

    This paper presents traceability of a product if we are using a stock management system which uses FIFO or LIFO discharging methods. In the first part there is a little presentation regarding the four types of inputs and outputs and the side effect to the

  6. Oil risk in oil stocks

    NARCIS (Netherlands)

    Scholtens, Bert; Wang, L

    2008-01-01

    We assess the oil price sensitivities and oil risk premiums of NYSE listed oil & gas firms' returns by using a two-step regression analysis under two different arbitrage pricing models. Thus, we apply the Fama and French (1992) factor returns in a study of oil stocks. In all, we find that the return

  7. Measuring Stock Market Investor Sentiment

    National Research Council Canada - National Science Library

    Francisca Beer; Mohamed Zouaoui

    2013-01-01

    .... Our results show that our composite sentiment index affects the returns of stocks hard to value and difficult to arbitrage consistent with the predictions of noise trader's models. Finally, we find that our composite index has a better predictive ability than the alternative sentiment measures largely used in the literature.

  8. Livestock as a Buffer Stock

    OpenAIRE

    Ali,Daniel Ayalew

    2015-01-01

    This paper uses a stochastic dynamic programming model to characterize the optimal savings-consumption decisions and the role of livestock inventories as a buffer stock in rural Ethiopia. The results show that relatively land-rich households use accumulation and liquidation of cattle and other animal inventories for partial consumption smoothing, while low-income households appear not to d...

  9. TRACEABILITY IN STOCK MANAGEMENT SYSTEMS

    Directory of Open Access Journals (Sweden)

    Demian Horia

    2009-05-01

    Full Text Available This paper presents traceability of a product if we are using a stock management system which uses FIFO or LIFO discharging methods. In the first part there is a little presentation regarding the four types of inputs and outputs and the side effect to the

  10. Compression Ratio Adjuster

    Science.gov (United States)

    Akkerman, J. W.

    1982-01-01

    New mechanism alters compression ratio of internal-combustion engine according to load so that engine operates at top fuel efficiency. Ordinary gasoline, diesel and gas engines with their fixed compression ratios are inefficient at partial load and at low-speed full load. Mechanism ensures engines operate as efficiently under these conditions as they do at highload and high speed.

  11. 12 CFR 725.5 - Capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is...

  12. THE INFLUENCE OF DIFFERENT STOCKING DENSITIES AND ...

    African Journals Online (AJOL)

    Helet Lambrechts

    stocking rates and male:female (M:F) ratios under intensive commercial ... other livestock farming systems, e.g. sheep and beef cattle, where the natural veld areas ... 21 of New Zealand (Animal Welfare Advisory ..... behaviour patterns observed at the higher stocking rates agree with findings in poultry where high stocking.

  13. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock. (a... received for capital stock issued and outstanding. (b) Subsidiary records shall be maintained so as to...

  14. 25 CFR 173.6 - Stock grazing.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Stock grazing. 173.6 Section 173.6 Indians BUREAU OF... WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees may graze upon lands covered by such permits, such stock as may be required in connection with the...

  15. On the Design of Artificial Stock Markets

    NARCIS (Netherlands)

    K. Boer-Sorban (Katalin); A. de Bruin (Arie); U. Kaymak (Uzay)

    2005-01-01

    textabstractArtificial stock markets are designed with the aim to study and understand market dynamics by representing (part of) real stock markets. Since there is a large variety of real stock markets with several partially observable elements and hidden processes, artificial markets differ

  16. 27 CFR 24.217 - Vinegar stock.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Vinegar stock. 24.217... OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar... commercial standards for the production of vinegar. Vinegar stock may be made only by the addition of...

  17. Analysis on the Influence of Stock Index Futures on Chinese Stock Market

    Institute of Scientific and Technical Information of China (English)

    王钊

    2014-01-01

    As the first product of financial futures in China, CSI 300 Stock Index Futures is a symbol of the continual improvement and development of Chinese capital market system. So it would be bound to generate immeasurable influence on Chinese capital market and financial system. Starting from introducing the relevant summaries of stock index futures, this paper analyzes the influence of the stock index futures on the fluctuation in the international stock market;then, it analyzes influence of the stock index futures on the fluctuation in Chinese stock market, in order to propose some suggestions to the policies for developing Chinese stock index futures.

  18. Spectral Animation Compression

    Institute of Scientific and Technical Information of China (English)

    Chao Wang; Yang Liu; Xiaohu Guo; Zichun Zhong; Binh Le; Zhigang Deng

    2015-01-01

    This paper presents a spectral approach to compress dynamic animation consisting of a sequence of homeomor-phic manifold meshes. Our new approach directly compresses the field of deformation gradient defined on the surface mesh, by decomposing it into rigid-body motion (rotation) and non-rigid-body deformation (stretching) through polar decompo-sition. It is known that the rotation group has the algebraic topology of 3D ring, which is different from other operations like stretching. Thus we compress these two groups separately, by using Manifold Harmonics Transform to drop out their high-frequency details. Our experimental result shows that the proposed method achieves a good balance between the reconstruction quality and the compression ratio. We compare our results quantitatively with other existing approaches on animation compression, using standard measurement criteria.

  19. Stock market volatility using GARCH models: Evidence from South Africa and China stock markets

    OpenAIRE

    Cheteni, Priviledge

    2016-01-01

    This study looks into the relationship between stock returns and volatility in South Africa and China stock markets. A Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model is used to estimate volatility of the stock returns, namely, the Johannesburg Stock Exchange FTSE/JSE Albi index and the Shanghai Stock Exchange Composite Index. The sample period is from January 1998 to October 2014. Empirical results show evidence of high volatility in both the JSE market, and the Shang...

  20. Predicting Daily Stock Returns: A Lengthy Study of the Hong Kong and Tokyo Stock Exchanges

    OpenAIRE

    Jeffrey E Jarrett

    2008-01-01

    If stock markets are efficient then it should not be possible to predict stock returns, i.e., no explanatory variable in a stock market regression model should be statistically significant. In this study, we find results indicating that daily effects exist in stock market returns. These daily or calendar effects previously shown to exist by others clearly indicate the purpose of this study. Researchers often equate stock market efficiency with the non-predictability property of time series of...

  1. The effect of stock liquidity on the risk of falling stock prices: Evidence from the Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mehdi Moghanloo

    2015-12-01

    Full Text Available Liquidity of the stock exchanges plays essential role on investment decisions and it is one of the factors that may influence on stock price. The easier one can buy/sell shares of a firm, the higher liquidity the firm has. In fact, lack of liquidity may lead investors to sell their assets at cheaper prices and it could influence negatively on overall market. The primary objective of this paper is to study the effect of stock liquidity on the risk of falling stock prices. The study chooses historical information of 70 selected firms listed on Tehran Stock Exchange over the period 2006-2012. The results of this survey have indicated that there was a negative and meaningful relationship between stock liquidity and stock price decline.

  2. Stock Market Manipulation on the Hong Kong Stock Exchange

    Directory of Open Access Journals (Sweden)

    Dionigi Gerace

    2014-10-01

    Full Text Available This study is the first to empirically examine stock market manipulation on the Hong Kong Stock Exchange. The dataset contains 40 cases of market manipulation from 1996 to 2009 that were successfully prosecuted by the Hong Kong Securities & Futures Commission. Manipulation is found to negatively impact market efficiency measures such as the bid-ask spread and volatility. Markets appear incapable of efficiently responding to the presence of manipulators and are characterised by information asymmetry. Manipulators were successfully able to raise prices and exit the market. This finding contradicts views that trade-based manipulation is entirely unprofitable and self-deterring. The victimisation of information-seeking investors and the market as a whole provides a strong rationale for all jurisdictions, including Australia, to have effective laws that prohibit manipulation and for robust enforcement of those laws to further deter market manipulation.

  3. What Does Stock Ownership Breadth Measure?

    Science.gov (United States)

    Choi, James J; Jin, Li; Yan, Hongjun

    2013-07-01

    Using holdings data on a representative sample of all Shanghai Stock Exchange investors, we show that increases in ownership breadth (the fraction of market participants who own a stock) predict low returns: highest change quintile stocks underperform lowest quintile stocks by 23% per year. Small retail investors drive this result. Retail ownership breadth increases appear to be correlated with overpricing. Among institutional investors, however, the opposite holds: Stocks in the top decile of wealth-weighted institutional breadth change outperform the bottom decile by 8% per year, consistent with prior work that interprets breadth as a measure of short-sales constraints.

  4. A Map of the Brazilian Stock Market

    OpenAIRE

    Leonidas Sandoval Junior

    2011-01-01

    The correlation matrix of stocks returns is used in order to create maps of the São Paulo Stock Exchange (BM&F-Bovespa), Brazil's main stock exchange. The data refer to the year 2010, and the correlations between stock returns lead to the construction of a minimum spanning tree and of asset graphs with a variety of threshold values. The results are analyzed using techniques of network theory. Also, using data from 2007 to 2010, a study is made on the dynamics of the network formed by stocks f...

  5. What Does Stock Ownership Breadth Measure?*

    Science.gov (United States)

    Choi, James J.; Jin, Li; Yan, Hongjun

    2013-01-01

    Using holdings data on a representative sample of all Shanghai Stock Exchange investors, we show that increases in ownership breadth (the fraction of market participants who own a stock) predict low returns: highest change quintile stocks underperform lowest quintile stocks by 23% per year. Small retail investors drive this result. Retail ownership breadth increases appear to be correlated with overpricing. Among institutional investors, however, the opposite holds: Stocks in the top decile of wealth-weighted institutional breadth change outperform the bottom decile by 8% per year, consistent with prior work that interprets breadth as a measure of short-sales constraints. PMID:24764801

  6. Vascular compression syndromes.

    Science.gov (United States)

    Czihal, Michael; Banafsche, Ramin; Hoffmann, Ulrich; Koeppel, Thomas

    2015-11-01

    Dealing with vascular compression syndromes is one of the most challenging tasks in Vascular Medicine practice. This heterogeneous group of disorders is characterised by external compression of primarily healthy arteries and/or veins as well as accompanying nerval structures, carrying the risk of subsequent structural vessel wall and nerve damage. Vascular compression syndromes may severely impair health-related quality of life in affected individuals who are typically young and otherwise healthy. The diagnostic approach has not been standardised for any of the vascular compression syndromes. Moreover, some degree of positional external compression of blood vessels such as the subclavian and popliteal vessels or the celiac trunk can be found in a significant proportion of healthy individuals. This implies important difficulties in differentiating physiological from pathological findings of clinical examination and diagnostic imaging with provocative manoeuvres. The level of evidence on which treatment decisions regarding surgical decompression with or without revascularisation can be relied on is generally poor, mostly coming from retrospective single centre studies. Proper patient selection is critical in order to avoid overtreatment in patients without a clear association between vascular compression and clinical symptoms. With a focus on the thoracic outlet-syndrome, the median arcuate ligament syndrome and the popliteal entrapment syndrome, the present article gives a selective literature review on compression syndromes from an interdisciplinary vascular point of view.

  7. Critical Data Compression

    CERN Document Server

    Scoville, John

    2011-01-01

    A new approach to data compression is developed and applied to multimedia content. This method separates messages into components suitable for both lossless coding and 'lossy' or statistical coding techniques, compressing complex objects by separately encoding signals and noise. This is demonstrated by compressing the most significant bits of data exactly, since they are typically redundant and compressible, and either fitting a maximally likely noise function to the residual bits or compressing them using lossy methods. Upon decompression, the significant bits are decoded and added to a noise function, whether sampled from a noise model or decompressed from a lossy code. This results in compressed data similar to the original. For many test images, a two-part image code using JPEG2000 for lossy coding and PAQ8l for lossless coding produces less mean-squared error than an equal length of JPEG2000. Computer-generated images typically compress better using this method than through direct lossy coding, as do man...

  8. A controllable laboratory stock market for modeling real stock markets

    Science.gov (United States)

    An, Kenan; Li, Xiaohui; Yang, Guang; Huang, Jiping

    2013-10-01

    Based on the different research approaches, econophysics can be divided into three directions: empirical econophysics, computational econophysics, and experimental econophysics. Because empirical econophysics lacks controllability that is needed to study the impacts of different external conditions and computational econophysics has to adopt artificial decision-making processes that are often deviated from those of real humans, experimental econophysics tends to overcome these problems by offering controllability and using real humans in laboratory experiments. However, to our knowledge, the existing laboratory experiments have not convincingly reappeared the stylized facts (say, scaling) that have been revealed for real economic/financial markets by econophysicists. A most important reason is that in these experiments, discrete trading time makes these laboratory markets deviated from real markets where trading time is naturally continuous. Here we attempt to overcome this problem by designing a continuous double-auction stock-trading market and conducting several human experiments in laboratory. As an initial work, the present artificial financial market can reproduce some stylized facts related to clustering and scaling. Also, it predicts some other scaling in human behavior dynamics that is hard to achieve in real markets due to the difficulty in getting the data. Thus, it becomes possible to study real stock markets by conducting controlled experiments on such laboratory stock markets producing high frequency data.

  9. Cross-correlations in Warsaw Stock Exchange

    CERN Document Server

    Rak, R; Drozdz, S; Oswiecimka, P

    2008-01-01

    We study the inter-stock correlations for the largest companies listed on Warsaw Stock Exchange and included in the WIG20 index. Our results from the correlation matrix analysis indicate that the Polish stock market can be well described by a one factor model. We also show that the stock-stock correlations tend to increase with the time scale of returns and they approach a saturation level for the time scales of at least 200 min, i.e. an order of magnitude longer than in the case of some developed markets. We also show that the strength of correlations among the stocks crucially depends on their capitalization. These results combined with our earlier findings together suggest that now the Polish stock market situates itself somewhere between an emerging market phase and a mature market phase.

  10. Is the stock market efficient?

    Science.gov (United States)

    Malkiel, B G

    1989-03-10

    A stock market is said to be efficient if it accurately reflects all relevant information in determining security prices. Critics have asserted that share prices are far too volatile to be explained by changes in objective economic events-the October 1987 crash being a case in point. Although the evidence is not unambiguous, reports of the death of the efficient market hypothesis appear premature.

  11. Elements of stock market analysis

    OpenAIRE

    Suciu, T.

    2013-01-01

    The paper represents a starting point in the presentation of the two types of stock/market analysis: the fundamental analysis and the technical analysis. The fundamental analysis consist in the assessment of the financial and economic status of the company together with the context and macroeconomic environment where it activates. The technical analysis deals with the demand and supply of securities and the evolution of their trend on the market, using a range of graphics and charts to il...

  12. Statistical modelling of fish stocks

    DEFF Research Database (Denmark)

    Kvist, Trine

    1999-01-01

    for modelling the dynamics of a fish population is suggested. A new approach is introduced to analyse the sources of variation in age composition data, which is one of the most important sources of information in the cohort based models for estimation of stock abundancies and mortalities. The approach combines...... and it is argued that an approach utilising stochastic differential equations might be advantagous in fish stoch assessments....

  13. Statistical modelling of fish stocks

    DEFF Research Database (Denmark)

    Kvist, Trine

    1999-01-01

    for modelling the dynamics of a fish population is suggested. A new approach is introduced to analyse the sources of variation in age composition data, which is one of the most important sources of information in the cohort based models for estimation of stock abundancies and mortalities. The approach combines...... and it is argued that an approach utilising stochastic differential equations might be advantagous in fish stoch assessments....

  14. Taxonomy of stock market indices

    Science.gov (United States)

    Bonanno, Giovanni; Vandewalle, Nicolas; Mantegna, Rosario N.

    2000-12-01

    We investigate sets of financial nonredundant and nonsynchronously recorded time series. The sets are composed by a number of stock market indices located all over the world in five continents. By properly selecting the time horizon of returns and by using a reference currency we find a meaningful taxonomy. The detection of such a taxonomy proves that interpretable information can be stored in a set of nonsynchronously recorded time series.

  15. Prediction by Compression

    CERN Document Server

    Ratsaby, Joel

    2010-01-01

    It is well known that text compression can be achieved by predicting the next symbol in the stream of text data based on the history seen up to the current symbol. The better the prediction the more skewed the conditional probability distribution of the next symbol and the shorter the codeword that needs to be assigned to represent this next symbol. What about the opposite direction ? suppose we have a black box that can compress text stream. Can it be used to predict the next symbol in the stream ? We introduce a criterion based on the length of the compressed data and use it to predict the next symbol. We examine empirically the prediction error rate and its dependency on some compression parameters.

  16. LZW Data Compression

    Directory of Open Access Journals (Sweden)

    Dheemanth H N

    2016-07-01

    Full Text Available Lempel–Ziv–Welch (LZW is a universal lossless data compression algorithm created by Abraham Lempel, Jacob Ziv, and Terry Welch. LZW compression is one of the Adaptive Dictionary techniques. The dictionary is created while the data are being encoded. So encoding can be done on the fly. The dictionary need not be transmitted. Dictionary can be built up at receiving end on the fly. If the dictionary overflows then we have to reinitialize the dictionary and add a bit to each one of the code words. Choosing a large dictionary size avoids overflow, but spoils compressions. A codebook or dictionary containing the source symbols is constructed. For 8-bit monochrome images, the first 256 words of the dictionary are assigned to the gray levels 0-255. Remaining part of the dictionary is filled with sequences of the gray levels.LZW compression works best when applied on monochrome images and text files that contain repetitive text/patterns.

  17. Shocklets in compressible flows

    Institute of Scientific and Technical Information of China (English)

    袁湘江; 男俊武; 沈清; 李筠

    2013-01-01

    The mechanism of shocklets is studied theoretically and numerically for the stationary fluid, uniform compressible flow, and boundary layer flow. The conditions that trigger shock waves for sound wave, weak discontinuity, and Tollmien-Schlichting (T-S) wave in compressible flows are investigated. The relations between the three types of waves and shocklets are further analyzed and discussed. Different stages of the shocklet formation process are simulated. The results show that the three waves in compressible flows will transfer to shocklets only when the initial disturbance amplitudes are greater than the certain threshold values. In compressible boundary layers, the shocklets evolved from T-S wave exist only in a finite region near the surface instead of the whole wavefront.

  18. Reference Based Genome Compression

    CERN Document Server

    Chern, Bobbie; Manolakos, Alexandros; No, Albert; Venkat, Kartik; Weissman, Tsachy

    2012-01-01

    DNA sequencing technology has advanced to a point where storage is becoming the central bottleneck in the acquisition and mining of more data. Large amounts of data are vital for genomics research, and generic compression tools, while viable, cannot offer the same savings as approaches tuned to inherent biological properties. We propose an algorithm to compress a target genome given a known reference genome. The proposed algorithm first generates a mapping from the reference to the target genome, and then compresses this mapping with an entropy coder. As an illustration of the performance: applying our algorithm to James Watson's genome with hg18 as a reference, we are able to reduce the 2991 megabyte (MB) genome down to 6.99 MB, while Gzip compresses it to 834.8 MB.

  19. Tick size and stock returns

    Science.gov (United States)

    Onnela, Jukka-Pekka; Töyli, Juuso; Kaski, Kimmo

    2009-02-01

    Tick size is an important aspect of the micro-structural level organization of financial markets. It is the smallest institutionally allowed price increment, has a direct bearing on the bid-ask spread, influences the strategy of trading order placement in electronic markets, affects the price formation mechanism, and appears to be related to the long-term memory of volatility clustering. In this paper we investigate the impact of tick size on stock returns. We start with a simple simulation to demonstrate how continuous returns become distorted after confining the price to a discrete grid governed by the tick size. We then move on to a novel experimental set-up that combines decimalization pilot programs and cross-listed stocks in New York and Toronto. This allows us to observe a set of stocks traded simultaneously under two different ticks while holding all security-specific characteristics fixed. We then study the normality of the return distributions and carry out fits to the chosen distribution models. Our empirical findings are somewhat mixed and in some cases appear to challenge the simulation results.

  20. Deep Blind Compressed Sensing

    OpenAIRE

    Singh, Shikha; Singhal, Vanika; Majumdar, Angshul

    2016-01-01

    This work addresses the problem of extracting deeply learned features directly from compressive measurements. There has been no work in this area. Existing deep learning tools only give good results when applied on the full signal, that too usually after preprocessing. These techniques require the signal to be reconstructed first. In this work we show that by learning directly from the compressed domain, considerably better results can be obtained. This work extends the recently proposed fram...

  1. Reference Based Genome Compression

    OpenAIRE

    Chern, Bobbie; Ochoa, Idoia; Manolakos, Alexandros; No, Albert; Venkat, Kartik; Weissman, Tsachy

    2012-01-01

    DNA sequencing technology has advanced to a point where storage is becoming the central bottleneck in the acquisition and mining of more data. Large amounts of data are vital for genomics research, and generic compression tools, while viable, cannot offer the same savings as approaches tuned to inherent biological properties. We propose an algorithm to compress a target genome given a known reference genome. The proposed algorithm first generates a mapping from the reference to the target gen...

  2. Alternative Compression Garments

    Science.gov (United States)

    Stenger, M. B.; Lee, S. M. C.; Ribeiro, L. C.; Brown, A. K.; Westby, C. M.; Platts, S. H.

    2011-01-01

    Orthostatic intolerance after spaceflight is still an issue for astronauts as no in-flight countermeasure has been 100% effective. Future anti-gravity suits (AGS) may be similar to the Shuttle era inflatable AGS or may be a mechanical compression device like the Russian Kentavr. We have evaluated the above garments as well as elastic, gradient compression garments of varying magnitude and determined that breast-high elastic compression garments may be a suitable replacement to the current AGS. This new garment should be more comfortable than the AGS, easy to don and doff, and as effective a countermeasure to orthostatic intolerance. Furthermore, these new compression garments could be worn for several days after space flight as necessary if symptoms persisted. We conducted two studies to evaluate elastic, gradient compression garments. The purpose of these studies was to evaluate the comfort and efficacy of an alternative compression garment (ACG) immediately after actual space flight and 6 degree head-down tilt bed rest as a model of space flight, and to determine if they would impact recovery if worn for up to three days after bed rest.

  3. Progressive or degressive compression pressure profile in patients with chronic venous disorders of the lower limb

    Directory of Open Access Journals (Sweden)

    Giovanni Mosti

    2014-03-01

    Full Text Available Graduated compression devices are considered the standard care for management of venous and lymphatic disorders. Recently compression devices exerting a pressure over the calf higher than over the ankle have been proved to be more effective than traditional graduated devices in increasing the impaired ejection fraction (EF from the lower leg in patients with venous disease. Aim of this work is presenting an overview of the new concept on progressive compression, its potential benefits and limits. In different series of tests, the EF from the lower leg was assessed in 70 patients with severe reflux in the great saphenous vein (GSV. EF was measured by strain gauge plethysmography, in baseline conditions and after applying graduated compression devices or the new inversely graduated or progressive compression (PC devices. The interface pressure was recorded, simultaneously with the EF, both in the gaiter area (B1 point and at the calf (C point in order to assess the compression pressure profile. EF, severely impaired in patients with GSV reflux, was increased by compression. So called PC devices (both PC elastic stocking and PC inelastic bandages were significantly more effective than graduated compression in increasing the ejection fraction. The higher the pressure on the calf the higher the EF improvement. Maintaining the same strong pressure over the calf by means of two progressive stockings and increasing the pressure only over the calf to restore a graduated compression didn’t improve the EF. To improve venous pumping function in the ambulant patient stronger compression of the calf is more effective than graduated compression. This can be explained by the higher amount of blood volume pooled in the calf veins.

  4. Jakarta Islamic Index-L 45: Rate Financial Performance, Beta Stocks and Stock Price in Indonesian Stock Exchange

    Directory of Open Access Journals (Sweden)

    Tajus Subqi

    2016-08-01

    Full Text Available This research had analyzed the effect of financial performance and stock beta (systematic risk towards stock price of eight listed companies in Jakarta Islamic Index (JII – LQ 45 for the time period of 2012-2014. The data was gathered by employing literature study and documentation of financial statements. Multiple regressions are used to measure the effect of independent variable towards dependent variable along with ttest and F test. The results based on overall test suggested that only ROE and NPM had opposite direction correlation with the stock price, meanwhile other variables had positive direction correlation. From partial test with 5% level of significance, only EPS and PER had significant effect on stock price while other variables had no effect.   Keywords: financial performance analysis, stock price, stock beta (systematic risk, Jakarta Islamic Index

  5. Analysis of Right Issue Announcement Effect toward Stock Price Movement and Stock Trading Volume within Issuer in Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Wilson Yaputra Yakup

    2016-05-01

    Full Text Available The purpose of this study were to identify and analyze the rights issue effect to the stock price, the effect of the rights issue on stock trading volume, the correlation between stock prices before and after the right issue, as well as the correlation between volume of trading activity before the right issue and after that event. The objects of the study are the companies listed on Indonesia Stock Exchange (JSX. The hypothesis stated that right issues have a significant effect on stock price on companies listed on the JSX, rights issues have a significant effect on the stock trading volume on companies listed on the JSX, there is a significant correlation between stock price before and after the rights issue on companies listed in JSX, there is a significant correlation between volume of the stock trading before the rights issue and after that event. Data analysis used were descriptive statistics, simple linear regression analysis and paired t-test. Hypothesis testing was performed by using the Pearson correlation test with significance level of 5%. The results show that the right issue has a positive effect but not significant toward stock prices of companies listed in JSX, right issue has a negative effect and not significant toward the trading volume activity (TVA on companies listed in JSX.

  6. Visualization of a stock market correlation matrix

    Science.gov (United States)

    Rea, Alethea; Rea, William

    2014-04-01

    This paper presents a novel application of Neighbor-Net, a clustering algorithm developed for constructing a phylogenetic network in the field of evolutionary biology, to visualizing a correlation matrix. We apply Neighbor-Net as implemented in the SplitsTree software package to 48 stocks listed on the New Zealand Stock Exchange. We show that by visualizing the correlation matrix using a Neighbor-Net splits graph and its associated circular ordering of the stocks that some of the problems associated with understanding the large number of correlations between the individual stocks can be overcome. We compare the visualization of Neighbor-Net with that provided by hierarchical clustering trees and minimum spanning trees. The use of Neighbor-Net networks, or splits graphs, yields greater insight into how closely individual stocks are related to each other in terms of their correlations and suggests new avenues of research into how to construct small diversified stock portfolios.

  7. An active compression bandage based on shape memory alloys: a preliminary investigation.

    Science.gov (United States)

    Moein, Hadi; Menon, Carlo

    2014-09-11

    Disorders associated with excessive swelling of the lower extremities are common. They can be associated with pain, varicose veins, reduced blood pressure when standing and may cause syncope or fainting. The common physical remedy to these disorders is the use of compression stockings and pneumatic compression leg massagers, which both attempt to limit blood pooling and capillary filtration in the lower limbs. However, compression stockings provide a constant pressure, and their efficiency has been challenged according to some recent studies. Air compression leg massagers on the other hand, restricts patient mobility. In this work we therefore present an innovative active compression bandage based on the use of a smart materials technology that could produce intermittent active pressure to mitigate the symptoms of lower extremity disorders. An active compression bandage (ACB), actuated by shape memory alloy (SMA) wires, was designed and prototyped. The ACB was wrapped around a calf model to apply an initial pressure comparable to the one exerted by commercial compression stockings. The ACB was controlled to apply different values of compression. A data acquisition board and a LabVIEW program were used to acquire both the pressure data exerted by the ACB and the electrical current required to actuate the SMA wires. An analytical model of the ACB based on a SMA constitutive model was developed. An optimizer was implemented to identify optimal parameters of the model to best estimate the performance of the ACB. The maximum increase in pressure due to the SMA wires activation was 40.8% higher than the initially applied pressure to the calf model. The analytical model of the ACB estimated the behaviour of the ACB with less than 0.32 mmHg difference with the experimental results. The prototyped ACB was able to apply an initial compression comparable to the one applied by commercial compression stockings. Activation of the ACB resulted in an increase of compression up to

  8. Combining Stocks and Flows of Knowledge

    DEFF Research Database (Denmark)

    Ambos, Tina C.; Nell, Phillip Christopher; Pedersen, Torben

    2013-01-01

    While previous research has mostly focused on either knowledge stocks or knowledge flows, our study is among the first to integrate these perspectives in order to shed light on the complementarity effects of different types of knowledge stocks and flows in the multinational corporation (MNC...... of complementarity create benefits for these units, but that the effects from intra-functional combinations of knowledge stocks and flows are significantly stronger than from cross-functional combinations....

  9. Looking Back on the Stock Market

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ Looking back at the ups and downs of China's stock market in 2007,it is clear that it has developed far beyond people's expectation. While the stock index constantly reaches new highs and the size of the market becomes larger and larger, the Chinese financial market has also reintegrated. A multi-level revolution occurred in 2007, involving changes in stock structure, the variety of core composition, chip cost of the capital market, investor makeup, as well as trade rules and operational methods.

  10. Taxation, Transfer Income and Stock Market Participation

    DEFF Research Database (Denmark)

    Fischer, Marcel; Astrup Jensen, Bjarne

    are not harmonized because poorer agents mainly use their transfer income to finance present consumption. (ii) Since the evolution of the economy determines both the level of tax revenues and the evolution of the stock market, transfer income is subject to stock market risk. Hence, poorer agents optimally reduce...... their equity shares. This can happen to an extent that they optimally no longer participate in the stock market....

  11. LETTER: Synchronization model for stock market asymmetry

    Science.gov (United States)

    Donangelo, Raul; Jensen, Mogens H.; Simonsen, Ingve; Sneppen, Kim

    2006-11-01

    The waiting time needed for a stock market index to undergo a given percentage change in its value is found to have an up down asymmetry, which, surprisingly, is not observed for the individual stocks composing that index. To explain this, we introduce a market model consisting of randomly fluctuating stocks that occasionally synchronize their short term draw-downs. These synchronous events are parametrized by a 'fear factor', that reflects the occurrence of dramatic external events which affect the financial market.

  12. Stock selection using a hybrid MCDM approach

    Directory of Open Access Journals (Sweden)

    Tea Poklepović

    2014-12-01

    Full Text Available The problem of selecting the right stocks to invest in is of immense interest for investors on both emerging and developed capital markets. Moreover, an investor should take into account all available data regarding stocks on the particular market. This includes fundamental and stock market indicators. The decision making process includes several stocks to invest in and more than one criterion. Therefore, the task of selecting the stocks to invest in can be viewed as a multiple criteria decision making (MCDM problem. Using several MCDM methods often leads to divergent rankings. The goal of this paper is to resolve these possible divergent results obtained from different MCDM methods using a hybrid MCDM approach based on Spearman’s rank correlation coefficient. Five MCDM methods are selected: COPRAS, linear assignment, PROMETHEE, SAW and TOPSIS. The weights for all criteria are obtained by using the AHP method. Data for this study includes information on stock returns and traded volumes from March 2012 to March 2014 for 19 stocks on the Croatian capital market. It also includes the most important fundamental and stock market indicators for selected stocks. Rankings using five selected MCDM methods in the stock selection problem yield divergent results. However, after applying the proposed approach the final hybrid rankings are obtained. The results show that the worse stocks to invest in happen to be the same when the industry is taken into consideration or when not. However, when the industry is taken into account, the best stocks to invest in are slightly different, because some industries are more profitable than the others.

  13. Anticipating Long-Term Stock Market Volatility

    OpenAIRE

    Conrad, Christian; Loch, Karin

    2012-01-01

    We investigate the relationship between long-term U.S. stock market risks and the macroeconomic environment using a two component GARCH-MIDAS model. Our results provide strong evidence in favor of counter-cyclical behavior of long-term stock market volatility. Among the various macro variables in our dataset the term spread, housing starts, corporate profits and the unemployment rate have the highest predictive ability for stock market volatility . While the term spread and housing starts are...

  14. Theoretical Foundations of Buffer Stock Saving

    OpenAIRE

    Christopher D Carroll

    2009-01-01

    "Buffer-stock" versions of the dynamic stochastic optimizing model of saving are now standard in the consumption literature. This paper builds theoretical foundations for rigorous understanding of the main characteristics of buffer stock models, including the existence of a target level of wealth and the proposition that aggregate consumption growth equals aggregate income growth in a small open economy populated by buffer stock consumers.

  15. Federal Securities Regulations and Stock Market Returns

    OpenAIRE

    Tung Liu; Gary Santoni; Courtenay Cliff Stone

    2008-01-01

    This paper examines the impact of federal securities statutes (seven major legislative acts and 535 amendments) on the mean and variance of total real U.S. stock market returns. In contrast to previous work, this study controls for the persistence of the variability of stock returns, employs a longer time period, utilizes a broader array of stocks and examines the impact of seven federal securities regulations and their selected amendments from 1933 through 2001. Despite the popular appeal of...

  16. Aquaculture, Capture Fisheries, and Wild Fish Stocks

    OpenAIRE

    Shan Jiang

    2007-01-01

    In a general equilibrium model, this paper examines how the rise of aquaculture and the decline of wild fish stocks are related. Two factors, population growth and technological improvement in aquaculture, have been studied in an aquaculture restricted entry case and an aquaculture free entry case. Both factors raise aquaculture production, while changes in wild fish stocks hinge on entry conditions. In the restricted entry case, population growth reduces wild fish stocks, but technological p...

  17. Major Factors influences the 2008 Stock Market

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ 2007 was an unusual year for China's stock market, as the index climbed from 2675 points up to 6124 by the end of the year, setting new records again and again throughout 2007. What will happen to the stock market in the coming 2008? Let's havea look at some of the main factors that will influence the stock market this year, perhaps we can find out if 2008 will be another memorable year full of surprises.

  18. Transverse Compression of Tendons.

    Science.gov (United States)

    Salisbury, S T Samuel; Buckley, C Paul; Zavatsky, Amy B

    2016-04-01

    A study was made of the deformation of tendons when compressed transverse to the fiber-aligned axis. Bovine digital extensor tendons were compression tested between flat rigid plates. The methods included: in situ image-based measurement of tendon cross-sectional shapes, after preconditioning but immediately prior to testing; multiple constant-load creep/recovery tests applied to each tendon at increasing loads; and measurements of the resulting tendon displacements in both transverse directions. In these tests, friction resisted axial stretch of the tendon during compression, giving approximately plane-strain conditions. This, together with the assumption of a form of anisotropic hyperelastic constitutive model proposed previously for tendon, justified modeling the isochronal response of tendon as that of an isotropic, slightly compressible, neo-Hookean solid. Inverse analysis, using finite-element (FE) simulations of the experiments and 10 s isochronal creep displacement data, gave values for Young's modulus and Poisson's ratio of this solid of 0.31 MPa and 0.49, respectively, for an idealized tendon shape and averaged data for all the tendons and E = 0.14 and 0.10 MPa for two specific tendons using their actual measured geometry. The compression load versus displacement curves, as measured and as simulated, showed varying degrees of stiffening with increasing load. This can be attributed mostly to geometrical changes in tendon cross section under load, varying according to the initial 3D shape of the tendon.

  19. Risk management of stock index futures

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    The Hong Kong Hang Seng index futures is taken as a study object and a method of empirical analysis is adopted in order to verify the validity of the application of the value-at-risk (VaR) method in the risk measurement of the stock index futures market. The results suggest that under normal market conditions it is feasible to apply the VaR method in the measurement of the market risks of stock index futures. The daily VaR value of the stock index futures provides a foreseeable profit and loss of the stock ...

  20. A Framework for Rolling Stock Rescheduling

    DEFF Research Database (Denmark)

    Haahr, Jørgen Thorlund; Lusby, Richard Martin

    by network buffer times. However, if the problems are more severe, changes must be made to the rolling stock schedule. In this talk we will discuss the Rolling Stock Rescheduling problem and Disruption Management. We will present our current work and planned future work on a framework for solving the Rolling......Rolling Stock schedules are typically made months or weeks prior to the date of execution. It is, however, rare that everything goes exactly as planned due to internal and external factors on the day of operation. If the magnitude of the disturbances is small then the problems may be absorbed...... Stock in a disruption context....

  1. Material Stock Demographics: Cars in Great Britain.

    Science.gov (United States)

    Cabrera Serrenho, André; Allwood, Julian M

    2016-03-15

    Recent literature on material flow analysis has been focused on quantitative characterization of past material flows. Fewer analyses exist on past and prospective quantification of stocks of materials in-use. Some of these analyses explore the composition of products' stocks, but a focus on the characterization of material stocks and its relation with service delivery is often neglected. We propose the use of the methods of human demography to characterize material stocks, defined herein as stock demographics, exploring the insights that this approach could provide for the sustainable management of materials. We exemplify an application of stock demographics by characterizing the composition and service delivery of iron, steel, and aluminum stocks of cars in Great Britain, 2002-2012. The results show that in this period the stock has become heavier, it is traveling less, and it is idle for more time. The visualization of material stocks' dynamics demonstrates the pace of product replacement as a function of its usefulness and enables the formulation of policy interventions and the exploration of future trends.

  2. Is the Chinese Stock Market Really Efficient?

    Institute of Scientific and Technical Information of China (English)

    Weiwei Zhang

    2014-01-01

    The purpose of this research is to examine whether Chinese Stock Market is weak- form efficient. The sample involves daily index price of Shanghai and Shenzhen Stock Exchange for both A share and B share over an extensive period of 1993-2013. In order to seek out whether the result of market efficiency is sensitive to sub-period, this paper computes the different time period of sample. This essay will use three empirical methods, namely unit root test, auto correlation test and run test, to examine whether Chinese Stock Marketis weak-form efficient. The results, regarding efficiency, indicate that Chinese Stock Market is not weak-form efficient.

  3. Pacific Region salmon stock management plan

    National Research Council Canada - National Science Library

    1986-01-01

    .... Each option is a long-term stock management strategy that combines harvest management, habitat rehabilitation, and enhancement to increase benefits to Canadians from the salmon fishery. Contents...

  4. 41 CFR 109-27.5003 - Stock control.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Stock control. 109-27... control. (a) Stock control shall be maintained on the basis of stock record accounts of inventories on... property under stock control for greater than 90 days shall be maintained in stock record accounts. ...

  5. Elements of stock market analysis

    Directory of Open Access Journals (Sweden)

    Suciu, T.

    2013-12-01

    Full Text Available The paper represents a starting point in the presentation of the two types of stock/market analysis: the fundamental analysis and the technical analysis. The fundamental analysis consist in the assessment of the financial and economic status of the company together with the context and macroeconomic environment where it activates. The technical analysis deals with the demand and supply of securities and the evolution of their trend on the market, using a range of graphics and charts to illustrate the market tendencies for the quick identification of the best moments to buy or sell.

  6. SYMBOLIC VERSOR COMPRESSION ALGORITHM

    Institute of Scientific and Technical Information of China (English)

    Li Hongbo

    2009-01-01

    In an inner-product space, an invertible vector generates a reflection with re-spect to a hyperplane, and the Clifford product of several invertible vectors, called a versor in Clifford algebra, generates the composition of the corresponding reflections, which is an orthogonal transformation. Given a versor in a Clifford algebra, finding another sequence of invertible vectors of strictly shorter length but whose Clifford product still equals the input versor, is called versor compression. Geometrically, versor compression is equivalent to decomposing an orthogoual transformation into a shorter sequence of reflections. This paper proposes a simple algorithm of compressing versors of symbolic form in Clifford algebra. The algorithm is based on computing the intersections of lines with planes in the corresponding Grassmann-Cayley algebra, and is complete in the case of Euclidean or Minkowski inner-product space.

  7. Image compression for dermatology

    Science.gov (United States)

    Cookson, John P.; Sneiderman, Charles; Colaianni, Joseph; Hood, Antoinette F.

    1990-07-01

    Color 35mm photographic slides are commonly used in dermatology for education, and patient records. An electronic storage and retrieval system for digitized slide images may offer some advantages such as preservation and random access. We have integrated a system based on a personal computer (PC) for digital imaging of 35mm slides that depict dermatologic conditions. Such systems require significant resources to accommodate the large image files involved. Methods to reduce storage requirements and access time through image compression are therefore of interest. This paper contains an evaluation of one such compression method that uses the Hadamard transform implemented on a PC-resident graphics processor. Image quality is assessed by determining the effect of compression on the performance of an image feature recognition task.

  8. The Stock Market Game: A Simulation of Stock Market Trading. Grades 5-8.

    Science.gov (United States)

    Draze, Dianne

    This guide to a unit on a simulation game about the stock market contains an instructional text and two separate simulations. Through directed lessons and reproducible worksheets, the unit teaches students about business ownership, stock exchanges, benchmarks, commissions, why prices change, the logistics of buying and selling stocks, and how to…

  9. 78 FR 17066 - Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in...

    Science.gov (United States)

    2013-03-19

    ... Revenue Service 26 CFR Part 1 RIN 1545-BJ74 Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in Outbound Asset Reorganizations AGENCY: Internal Revenue Service (IRS... between asset transfers and indirect stock transfers for certain outbound asset reorganizations....

  10. The Stock Market Game: A Simulation of Stock Market Trading. Grades 5-8.

    Science.gov (United States)

    Draze, Dianne

    This guide to a unit on a simulation game about the stock market contains an instructional text and two separate simulations. Through directed lessons and reproducible worksheets, the unit teaches students about business ownership, stock exchanges, benchmarks, commissions, why prices change, the logistics of buying and selling stocks, and how to…

  11. The role of managerial stock option programs in governance: evidence from REIT stock repurchases

    NARCIS (Netherlands)

    Ghosh, C.; Giambona, E.; Harding, J.P.; Sezer, O.; Sirmans, C.F.

    2010-01-01

    This article examines the role of stock option programs and executive holdings of stock options in real estate investment trust (REIT) governance. We study the issue by analyzing how the market reaction to a stock repurchase announcement varies as a function of the individual REIT's governance struc

  12. Compressive Shift Retrieval

    Science.gov (United States)

    Ohlsson, Henrik; Eldar, Yonina C.; Yang, Allen Y.; Sastry, S. Shankar

    2014-08-01

    The classical shift retrieval problem considers two signals in vector form that are related by a shift. The problem is of great importance in many applications and is typically solved by maximizing the cross-correlation between the two signals. Inspired by compressive sensing, in this paper, we seek to estimate the shift directly from compressed signals. We show that under certain conditions, the shift can be recovered using fewer samples and less computation compared to the classical setup. Of particular interest is shift estimation from Fourier coefficients. We show that under rather mild conditions only one Fourier coefficient suffices to recover the true shift.

  13. Graph Compression by BFS

    Directory of Open Access Journals (Sweden)

    Alberto Apostolico

    2009-08-01

    Full Text Available The Web Graph is a large-scale graph that does not fit in main memory, so that lossless compression methods have been proposed for it. This paper introduces a compression scheme that combines efficient storage with fast retrieval for the information in a node. The scheme exploits the properties of the Web Graph without assuming an ordering of the URLs, so that it may be applied to more general graphs. Tests on some datasets of use achieve space savings of about 10% over existing methods.

  14. Image data compression investigation

    Science.gov (United States)

    Myrie, Carlos

    1989-01-01

    NASA continuous communications systems growth has increased the demand for image transmission and storage. Research and analysis was conducted on various lossy and lossless advanced data compression techniques or approaches used to improve the efficiency of transmission and storage of high volume stellite image data such as pulse code modulation (PCM), differential PCM (DPCM), transform coding, hybrid coding, interframe coding, and adaptive technique. In this presentation, the fundamentals of image data compression utilizing two techniques which are pulse code modulation (PCM) and differential PCM (DPCM) are presented along with an application utilizing these two coding techniques.

  15. Image compression in local helioseismology

    CERN Document Server

    Löptien, Björn; Gizon, Laurent; Schou, Jesper

    2014-01-01

    Context. Several upcoming helioseismology space missions are very limited in telemetry and will have to perform extensive data compression. This requires the development of new methods of data compression. Aims. We give an overview of the influence of lossy data compression on local helioseismology. We investigate the effects of several lossy compression methods (quantization, JPEG compression, and smoothing and subsampling) on power spectra and time-distance measurements of supergranulation flows at disk center. Methods. We applied different compression methods to tracked and remapped Dopplergrams obtained by the Helioseismic and Magnetic Imager onboard the Solar Dynamics Observatory. We determined the signal-to-noise ratio of the travel times computed from the compressed data as a function of the compression efficiency. Results. The basic helioseismic measurements that we consider are very robust to lossy data compression. Even if only the sign of the velocity is used, time-distance helioseismology is still...

  16. 26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

    Science.gov (United States)

    2010-04-01

    ... loss is recognized on the disposition of the X stock option by Y. Immediately before Y's disposition of the X stock option, Y is treated as purchasing the X stock option from X for $100 of cash contributed... nonstatutory stock option to purchase 10 shares of X stock as compensation for services provided to Y....

  17. Empirical Study of the Risks in Shenzhen Stock Market

    Institute of Scientific and Technical Information of China (English)

    ZUO Xiao-de; GAO Wei-cun

    2001-01-01

    This paper conducts an empirical research on the system risks of the Shenzhen Stock Market using Capital Asset Pricing Model. The typical composition stocks on Shenzhen Stock Market in 1998 are taken as samples.

  18. Monetary Policy Shocks and Stock Returns Reactions: Evidence ...

    African Journals Online (AJOL)

    Our results indicate that positive interest rate innovations are associated with ... stock returns of companies listed on the Botswana Stock Exchange (BSE). ... policy shocks explain a relatively small proportion of stock returns variability.

  19. Crossing Stocks and the Positive Grassmannian I: The Geometry behind Stock Market

    OpenAIRE

    Ovidiu Racorean

    2014-01-01

    It seems to be very unlikely that all relevant information in the stock market could be fully encoded in a geometrical shape. Still,the present paper will reveal the geometry behind the stock market transactions. The prices of market index (DJIA) stock components are arranged in ascending order from the smallest one in the left to the highest in the right. In such arrangement, as stock prices changes due to daily market quotations, it could be noticed that the price of a certain stock get ove...

  20. Fingerprints in Compressed Strings

    DEFF Research Database (Denmark)

    Bille, Philip; Cording, Patrick Hagge; Gørtz, Inge Li

    2013-01-01

    The Karp-Rabin fingerprint of a string is a type of hash value that due to its strong properties has been used in many string algorithms. In this paper we show how to construct a data structure for a string S of size N compressed by a context-free grammar of size n that answers fingerprint queries...

  1. Multiple snapshot compressive beamforming

    DEFF Research Database (Denmark)

    Gerstoft, Peter; Xenaki, Angeliki; Mecklenbrauker, Christoph F.

    2015-01-01

    For sound fields observed on an array, compressive sensing (CS) reconstructs the multiple source signals at unknown directions-of-arrival (DOAs) using a sparsity constraint. The DOA estimation is posed as an underdetermined problem expressing the field at each sensor as a phase-lagged superposition...

  2. Compressive CFAR radar detection

    NARCIS (Netherlands)

    Anitori, L.; Otten, M.P.G.; Rossum, W.L. van; Maleki, A.; Baraniuk, R.

    2012-01-01

    In this paper we develop the first Compressive Sensing (CS) adaptive radar detector. We propose three novel architectures and demonstrate how a classical Constant False Alarm Rate (CFAR) detector can be combined with ℓ1-norm minimization. Using asymptotic arguments and the Complex Approximate Messag

  3. Compressive CFAR Radar Processing

    NARCIS (Netherlands)

    Anitori, L.; Rossum, W.L. van; Otten, M.P.G.; Maleki, A.; Baraniuk, R.

    2013-01-01

    In this paper we investigate the performance of a combined Compressive Sensing (CS) Constant False Alarm Rate (CFAR) radar processor under different interference scenarios using both the Cell Averaging (CA) and Order Statistic (OS) CFAR detectors. Using the properties of the Complex Approximate Mess

  4. Beamforming Using Compressive Sensing

    Science.gov (United States)

    2011-10-01

    dB to align the peak at 7.3o. Comparing peaks to val- leys , compressive sensing provides a greater main to interference (and noise) ratio...elements. Acknowledgments This research was supported by the Office of Naval Research. The authors would like to especially thank of Roger Gauss and Joseph

  5. ON THE INCREMENTS DISTRIBUTION OF STOCK PRICES

    Institute of Scientific and Technical Information of China (English)

    2001-01-01

    In this paper,the models of increment distributions of stock price are constructed with two approaches. The first approach is based on limit theorems of random summation. The second approach is based on the statistical analysis of the increment distribution of the logarithms of stock prices.

  6. Jump Detection in the Danish Stock Market

    DEFF Research Database (Denmark)

    Høg, Esben

    2002-01-01

    It is well known in financial economics that stock market return data are often modelled by a diffusion process with some regular drift function. Occasionally, however, sudden changes or jumps occur in the return data. Wavelet scaling methods are used to detect jumps and cusps in stock market...

  7. Does Stock Market Performance Influence Retirement Intentions?

    Science.gov (United States)

    Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj

    2012-01-01

    Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the…

  8. A Tale of Two Stock Markets

    Science.gov (United States)

    Armstrong, Michelle Hine; Piercey, Victor I.; Greene-Hunley, Stephanie

    2015-01-01

    This article describes two different projects using the stock market as a context for learning. For both projects, students "bought" shares in individual companies, tracked stock prices for a period of time, and then "sold" their shares at a gain or loss. The projects are adaptable for students in late elementary school through…

  9. Stock market stability: Diffusion entropy analysis

    Science.gov (United States)

    Li, Shouwei; Zhuang, Yangyang; He, Jianmin

    2016-05-01

    In this article, we propose a method to analyze the stock market stability based on diffusion entropy, and conduct an empirical analysis of Dow Jones Industrial Average. Empirical results show that this method can reflect the volatility and extreme cases of the stock market.

  10. Competition between stock exchanges and optimal trading

    NARCIS (Netherlands)

    van Kervel, V.L.

    2013-01-01

    This doctoral thesis focuses on two topics on trading in financial markets: competition between stock exchanges and optimal trading strategies. Chapter one analyzes the effect on the liquidity of a stock when it is traded on multiple trading venues, and distinguishes between competition from transpa

  11. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average r...

  12. Legal institutions, strategic default, and stock returns

    NARCIS (Netherlands)

    Favara, G.; Schroth, E.; Valta, P.

    2008-01-01

    This paper studies the impact of legal institutions on stock returns. More specifically, we examine how differences in debt enforcement and creditor protection around the world affect stock returns of individual firms. We hypothesize that if legal institutions prevent shareholders from engaging in

  13. Tweets Miner for Stock Market Analysis

    OpenAIRE

    Pavlyshenko, Bohdan

    2013-01-01

    In this paper, we present a software package for the data mining of Twitter microblogs for the purpose of using them for the stock market analysis. The package is written in R langauge using apropriate R packages. The model of tweets has been considered. We have also compared stock market charts with frequent sets of keywords in Twitter microblogs messages.

  14. SETS, Arbitrage Activity, and Stock Price Dynamics

    NARCIS (Netherlands)

    N. Taylor; D.J.C. van Dijk (Dick); Ph.H.B.F. Franses (Philip Hans); A. Lucas (André)

    1999-01-01

    textabstractThis paper provides an empirical description of the relationship between the trading system operated by a stock exchange and the transaction costs faced by heterogeneous investors who use the exchange. The recent introduction of SETS in the London Stock Exchange provides an excellent

  15. Mandatory IFRS Reporting and Stock Price Informativeness

    NARCIS (Netherlands)

    Beuselinck, C.A.C.; Joos, P.P.M.; Khurana, I.K.; van der Meulen, S.

    2010-01-01

    In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and contributes to stock price informativeness as measured by stock return synchronicity. Using a constant sample of 1,904 mandatory IFRS adopters in 14 EU countries for the period 2003-2007

  16. Mandatory IFRS Reporting and Stock Price Informativeness

    NARCIS (Netherlands)

    Beuselinck, C.A.C.; Joos, P.P.M.; Khurana, I.K.; van der Meulen, S.

    2010-01-01

    In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and contributes to stock price informativeness as measured by stock return synchronicity. Using a constant sample of 1,904 mandatory IFRS adopters in 14 EU countries for the period

  17. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average r...

  18. Stock market volatility and macroeconomic uncertainty

    NARCIS (Netherlands)

    Arnold, I.J.M.; Vrugt, E.B.

    2006-01-01

    This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is much

  19. A Tale of Two Stock Markets

    Science.gov (United States)

    Armstrong, Michelle Hine; Piercey, Victor I.; Greene-Hunley, Stephanie

    2015-01-01

    This article describes two different projects using the stock market as a context for learning. For both projects, students "bought" shares in individual companies, tracked stock prices for a period of time, and then "sold" their shares at a gain or loss. The projects are adaptable for students in late elementary school through…

  20. Does Stock Market Performance Influence Retirement Intentions?

    Science.gov (United States)

    Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj

    2012-01-01

    Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the…

  1. Young stock rearing using automatically recorded data

    NARCIS (Netherlands)

    Ipema, A.H.; Mol, de R.M.; Hogewerf, P.H.

    2014-01-01

    The subject ‘young stock rearing’ is important for future dairy farming. So far there has been too little attention for young stock rearing. Proper care by monitoring health and growth of the young animals will lengthen life expectancy and increase milk production of the adult dairy cow. Due to the

  2. Distinguishing manipulated stocks via trading network analysis

    Science.gov (United States)

    Sun, Xiao-Qian; Cheng, Xue-Qi; Shen, Hua-Wei; Wang, Zhao-Yang

    2011-10-01

    Manipulation is an important issue for both developed and emerging stock markets. For the study of manipulation, it is critical to analyze investor behavior in the stock market. In this paper, an analysis of the full transaction records of over a hundred stocks in a one-year period is conducted. For each stock, a trading network is constructed to characterize the relations among its investors. In trading networks, nodes represent investors and a directed link connects a stock seller to a buyer with the total trade size as the weight of the link, and the node strength is the sum of all edge weights of a node. For all these trading networks, we find that the node degree and node strength both have tails following a power-law distribution. Compared with non-manipulated stocks, manipulated stocks have a high lower bound of the power-law tail, a high average degree of the trading network and a low correlation between the price return and the seller-buyer ratio. These findings may help us to detect manipulated stocks.

  3. Bun splitting: a practical cutting stock problem

    NARCIS (Netherlands)

    C.A. Glass (Catherine); J.M. van Oostrum (Jeroen)

    2010-01-01

    textabstractWe describe a new hierarchical 2D-guillotine Cutting Stock Problem. In contrast to the classic cutting stock problem, waste is not an issue. The problem relates to the removal of a defective part and assembly of the remaining parts into homogeneous size blocks. The context is the packing

  4. Stock market volatility and macroeconomic uncertainty

    NARCIS (Netherlands)

    Arnold, I.J.M.; Vrugt, E.B.

    2006-01-01

    This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is much

  5. Fundamental uncertainty and stock market volatility

    NARCIS (Netherlands)

    Arnold, I.J.M.; Vrugt, E.B.

    2008-01-01

    We provide empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from participants in the Survey of Professional Forecasters over the period 1969 to 1996.

  6. Systematic analysis of group identification in stock markets

    OpenAIRE

    Dong-Hee Kim; Hawoong Jeong

    2005-01-01

    We propose improved methods to identify stock groups using the correlation matrix of stock price changes. By filtering out the marketwide effect and the random noise, we construct the correlation matrix of stock groups in which nontrivial high correlations between stocks are found. Using the filtered correlation matrix, we successfully identify the multiple stock groups without any extra knowledge of the stocks by the optimization of the matrix representation and the percolation approach to t...

  7. Modeling Chaotic Behavior of Chittagong Stock Indices

    Directory of Open Access Journals (Sweden)

    Shipra Banik

    2012-01-01

    Full Text Available Stock market prediction is an important area of financial forecasting, which attracts great interest to stock buyers and sellers, stock investors, policy makers, applied researchers, and many others who are involved in the capital market. In this paper, a comparative study has been conducted to predict stock index values using soft computing models and time series model. Paying attention to the applied econometric noises because our considered series are time series, we predict Chittagong stock indices for the period from January 1, 2005 to May 5, 2011. We have used well-known models such as, the genetic algorithm (GA model and the adaptive network fuzzy integrated system (ANFIS model as soft computing forecasting models. Very widely used forecasting models in applied time series econometrics, namely, the generalized autoregressive conditional heteroscedastic (GARCH model is considered as time series model. Our findings have revealed that the use of soft computing models is more successful than the considered time series model.

  8. Recurrence quantification analysis of global stock markets

    Science.gov (United States)

    Bastos, João A.; Caiado, Jorge

    2011-04-01

    This study investigates the presence of deterministic dependencies in international stock markets using recurrence plots and recurrence quantification analysis (RQA). The results are based on a large set of free float-adjusted market capitalization stock indices, covering a period of 15 years. The statistical tests suggest that the dynamics of stock prices in emerging markets is characterized by higher values of RQA measures when compared to their developed counterparts. The behavior of stock markets during critical financial events, such as the burst of the technology bubble, the Asian currency crisis, and the recent subprime mortgage crisis, is analyzed by performing RQA in sliding windows. It is shown that during these events stock markets exhibit a distinctive behavior that is characterized by temporary decreases in the fraction of recurrence points contained in diagonal and vertical structures.

  9. Stock Indices as Generalizing Indicators of the Stock Markets Condition in the European Union Countries

    Directory of Open Access Journals (Sweden)

    Shuba M. V.

    2015-03-01

    Full Text Available The aim of the article is to determine the degree of interdependence of stock markets in separate countries of the European Union, namely: France, Germany, Great Britain, Poland, the Czech Republic and Hungary on the basis of studying the changes in stock indexes, as well as determining the existence of tendencies of approximating the dynamics of the national stock index «PFTS Index» to the corresponding dynamics of stock indexes in surveyed countries. The article analyzes the dynamics of changes in stock indices in the UK (FTSE, Germany (DAX 30, France (CAC 40 and pan-European ones (EURO STOXX 50, as well as changes in stock indices in Poland (WIG 20, Czech Republic (PX, Hungary (BUX. Calculations of the coefficients of pair correlation between changes in stock indices in the studied countries have been performed. The calculation results show a substantial connection between the indicators of changes in stock indices and allow to make a conclusion that in the dynamics of stock indices of national stock markets of the studied EU countries some common trends are observed, moreover, in the behavior of the considered indices common local trends are noticed as well. The author calculated the coefficient of pair correlation between the indicators of changes in the national stock index «PFTS Index» and the stock indices of the «old» and «new» EU countries. The calculations showed that the PFTS Index does not demonstrate a high level of correlation with stock indices of the «old» EU countries and has a tendency of approaching the corresponding dynamics of stock indices of the «new» EU countries.

  10. Systematic analysis of group identification in stock markets.

    Science.gov (United States)

    Kim, Dong-Hee; Jeong, Hawoong

    2005-10-01

    We propose improved methods to identify stock groups using the correlation matrix of stock price changes. By filtering out the market-wide effect and the random noise, we construct the correlation matrix of stock groups in which nontrivial high correlations between stocks are found. Using the filtered correlation matrix, we successfully identify the multiple stock groups without any extra knowledge of the stocks by the optimization of the matrix representation and the percolation approach to the correlation-based network of stocks. These methods drastically reduce the ambiguities while finding stock groups using the eigenvectors of the correlation matrix.

  11. Randomness Testing of Compressed Data

    CERN Document Server

    Chang, Weiling; Yun, Xiaochun; Wang, Shupeng; Yu, Xiangzhan

    2010-01-01

    Random Number Generators play a critical role in a number of important applications. In practice, statistical testing is employed to gather evidence that a generator indeed produces numbers that appear to be random. In this paper, we reports on the studies that were conducted on the compressed data using 8 compression algorithms or compressors. The test results suggest that the output of compression algorithms or compressors has bad randomness, the compression algorithms or compressors are not suitable as random number generator. We also found that, for the same compression algorithm, there exists positive correlation relationship between compression ratio and randomness, increasing the compression ratio increases randomness of compressed data. As time permits, additional randomness testing efforts will be conducted.

  12. TEM Video Compressive Sensing

    Energy Technology Data Exchange (ETDEWEB)

    Stevens, Andrew J.; Kovarik, Libor; Abellan, Patricia; Yuan, Xin; Carin, Lawrence; Browning, Nigel D.

    2015-08-02

    One of the main limitations of imaging at high spatial and temporal resolution during in-situ TEM experiments is the frame rate of the camera being used to image the dynamic process. While the recent development of direct detectors has provided the hardware to achieve frame rates approaching 0.1ms, the cameras are expensive and must replace existing detectors. In this paper, we examine the use of coded aperture compressive sensing methods [1, 2, 3, 4] to increase the framerate of any camera with simple, low-cost hardware modifications. The coded aperture approach allows multiple sub-frames to be coded and integrated into a single camera frame during the acquisition process, and then extracted upon readout using statistical compressive sensing inversion. Our simulations show that it should be possible to increase the speed of any camera by at least an order of magnitude. Compressive Sensing (CS) combines sensing and compression in one operation, and thus provides an approach that could further improve the temporal resolution while correspondingly reducing the electron dose rate. Because the signal is measured in a compressive manner, fewer total measurements are required. When applied to TEM video capture, compressive imaging couled improve acquisition speed and reduce the electron dose rate. CS is a recent concept, and has come to the forefront due the seminal work of Candès [5]. Since the publication of Candès, there has been enormous growth in the application of CS and development of CS variants. For electron microscopy applications, the concept of CS has also been recently applied to electron tomography [6], and reduction of electron dose in scanning transmission electron microscopy (STEM) imaging [7]. To demonstrate the applicability of coded aperture CS video reconstruction for atomic level imaging, we simulate compressive sensing on observations of Pd nanoparticles and Ag nanoparticles during exposure to high temperatures and other environmental

  13. Viscoelastic behavior of stock indices

    Science.gov (United States)

    Gündüz, Güngör; Gündüz, Yalin

    2010-12-01

    The scattering diagram of a stock index results in a complex network structure, which can be used to analyze the viscoelastic properties of the index. The change along x- or y-direction of the diagram corresponds to purely elastic (or spring like) movement whereas the diagonal change at an angle of 45° corresponds to purely viscous (or dashpot like) movement. The viscous component pushes the price from its current value to any other value, while the elastic component acts like a restoring force. Four indices, namely, DJI, S&P-500, NASDAQ-100, and NASDAQ-composite were studied for the period of 2001-2009. NASDAQ-composite displayed very high elasticity while NASDAQ-100 displayed the highest fluidity in the time period considered. The fluidity of DJI and S&P-500 came out to be close to each other, and they are almost the same in the second half of the period.

  14. Tree compression with top trees

    DEFF Research Database (Denmark)

    Bille, Philip; Gørtz, Inge Li; Landau, Gad M.;

    2015-01-01

    We introduce a new compression scheme for labeled trees based on top trees. Our compression scheme is the first to simultaneously take advantage of internal repeats in the tree (as opposed to the classical DAG compression that only exploits rooted subtree repeats) while also supporting fast...

  15. Tree compression with top trees

    DEFF Research Database (Denmark)

    Bille, Philip; Gørtz, Inge Li; Landau, Gad M.

    2013-01-01

    We introduce a new compression scheme for labeled trees based on top trees [3]. Our compression scheme is the first to simultaneously take advantage of internal repeats in the tree (as opposed to the classical DAG compression that only exploits rooted subtree repeats) while also supporting fast...

  16. Tree compression with top trees

    DEFF Research Database (Denmark)

    Bille, Philip; Gørtz, Inge Li; Landau, Gad M.

    2015-01-01

    We introduce a new compression scheme for labeled trees based on top trees. Our compression scheme is the first to simultaneously take advantage of internal repeats in the tree (as opposed to the classical DAG compression that only exploits rooted subtree repeats) while also supporting fast...

  17. Reinterpreting Compression in Infinitary Rewriting

    NARCIS (Netherlands)

    Ketema, J.; Tiwari, Ashish

    2012-01-01

    Departing from a computational interpretation of compression in infinitary rewriting, we view compression as a degenerate case of standardisation. The change in perspective comes about via two observations: (a) no compression property can be recovered for non-left-linear systems and (b) some standar

  18. Lossless Compression of Broadcast Video

    DEFF Research Database (Denmark)

    Martins, Bo; Eriksen, N.; Faber, E.

    1998-01-01

    We investigate several techniques for lossless and near-lossless compression of broadcast video.The emphasis is placed on the emerging international standard for compression of continous-tone still images, JPEG-LS, due to its excellent compression performance and moderatecomplexity. Except for one...

  19. Building indifferentiable compression functions from the PGV compression functions

    DEFF Research Database (Denmark)

    Gauravaram, P.; Bagheri, Nasour; Knudsen, Lars Ramkilde

    2016-01-01

    Preneel, Govaerts and Vandewalle (PGV) analysed the security of single-block-length block cipher based compression functions assuming that the underlying block cipher has no weaknesses. They showed that 12 out of 64 possible compression functions are collision and (second) preimage resistant. Black...... cipher is ideal. We address the problem of building indifferentiable compression functions from the PGV compression functions. We consider a general form of 64 PGV compression functions and replace the linear feed-forward operation in this generic PGV compression function with an ideal block cipher...... independent of the one used in the generic PGV construction. This modified construction is called a generic modified PGV (MPGV). We analyse indifferentiability of the generic MPGV construction in the ideal cipher model and show that 12 out of 64 MPGV compression functions in this framework...

  20. The dependence of Islamic and conventional stocks: A copula approach

    Science.gov (United States)

    Razak, Ruzanna Ab; Ismail, Noriszura

    2015-09-01

    Recent studies have found that Islamic stocks are dependent on conventional stocks and they appear to be more risky. In Asia, particularly in Islamic countries, research on dependence involving Islamic and non-Islamic stock markets is limited. The objective of this study is to investigate the dependence between financial times stock exchange Hijrah Shariah index and conventional stocks (EMAS and KLCI indices). Using the copula approach and a time series model for each marginal distribution function, the copula parameters were estimated. The Elliptical copula was selected to present the dependence structure of each pairing of the Islamic stock and conventional stock. Specifically, the Islamic versus conventional stocks (Shariah-EMAS and Shariah-KLCI) had lower dependence compared to conventional versus conventional stocks (EMAS-KLCI). These findings suggest that the occurrence of shocks in a conventional stock will not have strong impact on the Islamic stock.

  1. Compressive Principal Component Pursuit

    CERN Document Server

    Wright, John; Min, Kerui; Ma, Yi

    2012-01-01

    We consider the problem of recovering a target matrix that is a superposition of low-rank and sparse components, from a small set of linear measurements. This problem arises in compressed sensing of structured high-dimensional signals such as videos and hyperspectral images, as well as in the analysis of transformation invariant low-rank recovery. We analyze the performance of the natural convex heuristic for solving this problem, under the assumption that measurements are chosen uniformly at random. We prove that this heuristic exactly recovers low-rank and sparse terms, provided the number of observations exceeds the number of intrinsic degrees of freedom of the component signals by a polylogarithmic factor. Our analysis introduces several ideas that may be of independent interest for the more general problem of compressed sensing and decomposing superpositions of multiple structured signals.

  2. On Network Functional Compression

    CERN Document Server

    Feizi, Soheil

    2010-01-01

    In this paper, we consider different aspects of the network functional compression problem where computation of a function (or, some functions) of sources located at certain nodes in a network is desired at receiver(s). The rate region of this problem has been considered in the literature under certain restrictive assumptions, particularly in terms of the network topology, the functions and the characteristics of the sources. In this paper, we present results that significantly relax these assumptions. Firstly, we consider this problem for an arbitrary tree network and asymptotically lossless computation. We show that, for depth one trees with correlated sources, or for general trees with independent sources, a modularized coding scheme based on graph colorings and Slepian-Wolf compression performs arbitrarily closely to rate lower bounds. For a general tree network with independent sources, optimal computation to be performed at intermediate nodes is derived. We introduce a necessary and sufficient condition...

  3. Hamming Compressed Sensing

    CERN Document Server

    Zhou, Tianyi

    2011-01-01

    Compressed sensing (CS) and 1-bit CS cannot directly recover quantized signals and require time consuming recovery. In this paper, we introduce \\textit{Hamming compressed sensing} (HCS) that directly recovers a k-bit quantized signal of dimensional $n$ from its 1-bit measurements via invoking $n$ times of Kullback-Leibler divergence based nearest neighbor search. Compared with CS and 1-bit CS, HCS allows the signal to be dense, takes considerably less (linear) recovery time and requires substantially less measurements ($\\mathcal O(\\log n)$). Moreover, HCS recovery can accelerate the subsequent 1-bit CS dequantizer. We study a quantized recovery error bound of HCS for general signals and "HCS+dequantizer" recovery error bound for sparse signals. Extensive numerical simulations verify the appealing accuracy, robustness, efficiency and consistency of HCS.

  4. Compressive Spectral Renormalization Method

    CERN Document Server

    Bayindir, Cihan

    2016-01-01

    In this paper a novel numerical scheme for finding the sparse self-localized states of a nonlinear system of equations with missing spectral data is introduced. As in the Petviashivili's and the spectral renormalization method, the governing equation is transformed into Fourier domain, but the iterations are performed for far fewer number of spectral components (M) than classical versions of the these methods with higher number of spectral components (N). After the converge criteria is achieved for M components, N component signal is reconstructed from M components by using the l1 minimization technique of the compressive sampling. This method can be named as compressive spectral renormalization (CSRM) method. The main advantage of the CSRM is that, it is capable of finding the sparse self-localized states of the evolution equation(s) with many spectral data missing.

  5. Comparison of stock valuation models with their intrinsic value in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ali Amiri

    2016-06-01

    Full Text Available Stock evaluation is one of the most important and most complex operational processes in the stock exchange. In financial markets, the pricing of tradable assets plays a basic role in resource allocation. After initial stock valuation of listed companies in Tehran Stock Exchange, some changes were observed in prices with the value set by the Stock Exchange. The aim of this study was to determine the model applied in the formation of stock prices in the stock market to find an appropriate market value model among value-based valuation models. To test the models of stock valuation, ordinary least square regression was used. Also, E-Views software was used for further data analysis. The sample included all the companies listed in Tehran Stock Exchange from 2008 till 2013. Based on the stratified random sampling, each industry was selected as a category and using Cochran formula, sample size of 40 participants was determined from each category. The data analysis indicated that the price-to-book ratio (P/B ratio had the highest adjustment factor and had been set as the best stock valuation model.

  6. Managerial Stock Compensation and Risky Investment

    Directory of Open Access Journals (Sweden)

    Raluca Georgiana Nastasescu

    2009-06-01

    Full Text Available This study analyzes the relationship between the mix of CEO equity-based compensation, namely stock options and restricted stock, and firms' risky investment. In general, the theory suggests that long-term compensation aligns CEOs' and shareholders' interests by inducing the managers to undertake risky investment, which has a positive impact on longterm well-being of the firm. However, as my results show, it is important to distinguish between types of awards since they can have different effects on the riskiness of the firm. In this respect, I answer the question how are different types of stock based compensation related to the executives' determination to increase or not the intensity of the firm's risky investment? I find that awarding the CEOs preponderantly with stock options positively affects the firm's level of R&D investment. Conversely, a higher proportion of restricted stock in the CEO's compensation is related to lower investment in (risky R&D. The inverse relation of causality also holds. Firms that make intensive R&D investments are more likely to award their CEOs with more stock options relative to restricted stock. Overall, the results are consistent with the theoretical prediction, in that the managerial compensation scheme plays an important role in determining the level of R&D investment.

  7. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

    Pressured by a slowdown in exports, cost increases and dwindling returns to manufacturing investments, China’s manufacturing capital has begun to shift to the real-estate and stock markets. As a matter of fact, the stock market had already felt a shock a couple of years ago when top domestic manufacturers like Midea, Gree, TCL and LMZ started to invest their idle capital in the real-estate and stock markets. Investments of manufacturing capital in both the real estate and stock markets have increased fluid capital and pushed up the value of both markets. Booms in both markets have in turn guaranteed investment returns of manufacturing capital, which further increased the stock market valuations of manufacturing capital. Such a cycle has created interest chains between listed manufacturers, the stock market and the real-estate market. Along with the ups and downs of the stock and real-estate markets, manufacturing capital now faces a dilemma: to escape or to persist? Where should it escape? When can the markets be profitable again? Just like the classic Shakespearean question: to be or not to be, that is the question.

  8. Asymmetric conditional volatility in international stock markets

    Science.gov (United States)

    Ferreira, Nuno B.; Menezes, Rui; Mendes, Diana A.

    2007-08-01

    Recent studies show that a negative shock in stock prices will generate more volatility than a positive shock of similar magnitude. The aim of this paper is to appraise the hypothesis under which the conditional mean and the conditional variance of stock returns are asymmetric functions of past information. We compare the results for the Portuguese Stock Market Index PSI 20 with six other Stock Market Indices, namely the SP 500, FTSE 100, DAX 30, CAC 40, ASE 20, and IBEX 35. In order to assess asymmetric volatility we use autoregressive conditional heteroskedasticity specifications known as TARCH and EGARCH. We also test for asymmetry after controlling for the effect of macroeconomic factors on stock market returns using TAR and M-TAR specifications within a VAR framework. Our results show that the conditional variance is an asymmetric function of past innovations raising proportionately more during market declines, a phenomenon known as the leverage effect. However, when we control for the effect of changes in macroeconomic variables, we find no significant evidence of asymmetric behaviour of the stock market returns. There are some signs that the Portuguese Stock Market tends to show somewhat less market efficiency than other markets since the effect of the shocks appear to take a longer time to dissipate.

  9. Hidden Markov Model for Stock Selection

    Directory of Open Access Journals (Sweden)

    Nguyet Nguyen

    2015-10-01

    Full Text Available The hidden Markov model (HMM is typically used to predict the hidden regimes of observation data. Therefore, this model finds applications in many different areas, such as speech recognition systems, computational molecular biology and financial market predictions. In this paper, we use HMM for stock selection. We first use HMM to make monthly regime predictions for the four macroeconomic variables: inflation (consumer price index (CPI, industrial production index (INDPRO, stock market index (S&P 500 and market volatility (VIX. At the end of each month, we calibrate HMM’s parameters for each of these economic variables and predict its regimes for the next month. We then look back into historical data to find the time periods for which the four variables had similar regimes with the forecasted regimes. Within those similar periods, we analyze all of the S&P 500 stocks to identify which stock characteristics have been well rewarded during the time periods and assign scores and corresponding weights for each of the stock characteristics. A composite score of each stock is calculated based on the scores and weights of its features. Based on this algorithm, we choose the 50 top ranking stocks to buy. We compare the performances of the portfolio with the benchmark index, S&P 500. With an initial investment of $100 in December 1999, over 15 years, in December 2014, our portfolio had an average gain per annum of 14.9% versus 2.3% for the S&P 500.

  10. Power law models of stock indices

    Science.gov (United States)

    Tse, Man Kit

    Viewing the stock market as a self-organized system, Sornette and Johansen introduced physics-based models to study the dynamics of stock market crashes from the perspective of complex systems. This involved modeling stock market Indices using a mathematical power law exhibiting log-periodicity as the system approaches a market crash, which acts like a critical point in a thermodynamic system. In this dissertation, I aim to investigate stock indices to determine whether or not they exhibit log-periodic oscillations, according to the models proposed by Sornette, as they approach a crash. In addition to analyzing stock market crashes in the frequency domain using the discrete Fourier transform and the Lomb-Scargle periodogram, I perform a detailed analysis of the stock market crash models through parameter estimation and model testing. I find that the probability landscapes have a complex topography and that there is very little evidence that these phase transition-based models accurately describe stock market crashes.

  11. Speech Compression and Synthesis

    Science.gov (United States)

    1980-10-01

    phonological rules combined with diphone improved the algorithms used by the phonetic synthesis prog?Im for gain normalization and time... phonetic vocoder, spectral template. i0^Th^TreprtTörc"u’d1sTuV^ork for the past two years on speech compression’and synthesis. Since there was an...from Block 19: speech recognition, pnoneme recogmtion. initial design for a phonetic recognition program. We also recorded ana partially labeled a

  12. Shock compression of nitrobenzene

    Science.gov (United States)

    Kozu, Naoshi; Arai, Mitsuru; Tamura, Masamitsu; Fujihisa, Hiroshi; Aoki, Katsutoshi; Yoshida, Masatake; Kondo, Ken-Ichi

    1999-06-01

    The Hugoniot (4 - 30 GPa) and the isotherm (1 - 7 GPa) of nitrobenzene have been investigated by shock and static compression experiments. Nitrobenzene has the most basic structure of nitro aromatic compounds, which are widely used as energetic materials, but nitrobenzene has been considered not to explode in spite of the fact its calculated heat of detonation is similar to TNT, about 1 kcal/g. Explosive plane-wave generators and diamond anvil cell were used for shock and static compression, respectively. The obtained Hugoniot consists of two linear lines, and the kink exists around 10 GPa. The upper line agrees well with the Hugoniot of detonation products calculated by KHT code, so it is expected that nitrobenzene detonates in that area. Nitrobenzene solidifies under 1 GPa of static compression, and the isotherm of solid nitrobenzene was obtained by X-ray diffraction technique. Comparing the Hugoniot and the isotherm, nitrobenzene is in liquid phase under experimented shock condition. From the expected phase diagram, shocked nitrobenzene seems to remain metastable liquid in solid phase region on that diagram.

  13. Compressed sensing electron tomography

    Energy Technology Data Exchange (ETDEWEB)

    Leary, Rowan, E-mail: rkl26@cam.ac.uk [Department of Materials Science and Metallurgy, University of Cambridge, Pembroke Street, Cambridge CB2 3QZ (United Kingdom); Saghi, Zineb; Midgley, Paul A. [Department of Materials Science and Metallurgy, University of Cambridge, Pembroke Street, Cambridge CB2 3QZ (United Kingdom); Holland, Daniel J. [Department of Chemical Engineering and Biotechnology, University of Cambridge, New Museums Site, Pembroke Street, Cambridge CB2 3RA (United Kingdom)

    2013-08-15

    The recent mathematical concept of compressed sensing (CS) asserts that a small number of well-chosen measurements can suffice to reconstruct signals that are amenable to sparse or compressible representation. In addition to powerful theoretical results, the principles of CS are being exploited increasingly across a range of experiments to yield substantial performance gains relative to conventional approaches. In this work we describe the application of CS to electron tomography (ET) reconstruction and demonstrate the efficacy of CS–ET with several example studies. Artefacts present in conventional ET reconstructions such as streaking, blurring of object boundaries and elongation are markedly reduced, and robust reconstruction is shown to be possible from far fewer projections than are normally used. The CS–ET approach enables more reliable quantitative analysis of the reconstructions as well as novel 3D studies from extremely limited data. - Highlights: • Compressed sensing (CS) theory and its application to electron tomography (ET) is described. • The practical implementation of CS–ET is outlined and its efficacy demonstrated with examples. • High fidelity tomographic reconstruction is possible from a small number of images. • The CS–ET reconstructions can be more reliably segmented and analysed quantitatively. • CS–ET is applicable to different image content by choice of an appropriate sparsifying transform.

  14. Ultraspectral sounder data compression review

    Institute of Scientific and Technical Information of China (English)

    Bormin HUANG; Hunglung HUANG

    2008-01-01

    Ultraspectral sounders provide an enormous amount of measurements to advance our knowledge of weather and climate applications. The use of robust data compression techniques will be beneficial for ultraspectral data transfer and archiving. This paper reviews the progress in lossless compression of ultra-spectral sounder data. Various transform-based, pre-diction-based, and clustering-based compression methods are covered. Also studied is a preprocessing scheme for data reordering to improve compression gains. All the coding experiments are performed on the ultraspectral compression benchmark dataset col-lected from the NASA Atmospheric Infrared Sounder (AIRS) observations.

  15. Engineering Relative Compression of Genomes

    CERN Document Server

    Grabowski, Szymon

    2011-01-01

    Technology progress in DNA sequencing boosts the genomic database growth at faster and faster rate. Compression, accompanied with random access capabilities, is the key to maintain those huge amounts of data. In this paper we present an LZ77-style compression scheme for relative compression of multiple genomes of the same species. While the solution bears similarity to known algorithms, it offers significantly higher compression ratios at compression speed over a order of magnitude greater. One of the new successful ideas is augmenting the reference sequence with phrases from the other sequences, making more LZ-matches available.

  16. Fish stocking density impacts tank hydrodynamics

    DEFF Research Database (Denmark)

    Rasmussen, Michael R.; Lunger, Angela; Laursen, Jesper;

    2006-01-01

    hydrodynamics was established using in-tank-based Rhodamine WT fluorometry at a flow rate of 0.23 l s-1 (tank exchange rate of 1.9 h-1). With increasing numbers of animals, curvilinear relationships were observed for dispersion coefficients and tank mixing times. Stocking densities of 3, 6, 9 and 12 kg m-3......The effect of stocking density upon the hydrodynamics of a circular tank, configured in a recirculation system, was investigated. Red drums Sciaenops ocellatus of approximately 140 g wet weight, were stocked at five rates varying from 0 to 12 kg m-3. The impact of the presence of fish upon tank...

  17. Characteristics of the Korean stock market correlations

    OpenAIRE

    Woo-Sung Jung; Seungbyung Chae; Jae-Suk Yang; Hie-Tae Moon

    2005-01-01

    In this study, we establish a network structure of the Korean stock market, one of the emerging markets, with its minimum spanning tree through the correlation matrix. Base on this analysis, it is found that the Korean stock market doesn't form the clusters of the business sectors or of the industry categories. When the MSCI (Morgan Stanley Capital International Inc.) index is exploited, we found that the clusters of the Korean stock market is formed. This finding implicates that the Korean m...

  18. Asset pricing model selection: Indonesian Stock Exchange

    OpenAIRE

    Pasaribu, Rowland Bismark Fernando

    2010-01-01

    The Capital Asset Pricing Model (CAPM) has dominated finance theory for over thirty years; it suggests that the market beta alone is sufficient to explain stock returns. However evidence shows that the cross-section of stock returns cannot be described solely by the one-factor CAPM. Therefore, the idea is to add other factors in order to complete the beta in explaining the price movements in the stock exchange. The Arbitrage Pricing Theory (APT) has been proposed as the first multifactor succ...

  19. Danish building typologies and building stock analyses

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Kragh, Jesper

    enough to meet the government’s plan to make Danish buildings free from use of fossil fuels by 2035. This will probably require around 50 % energy savings in the Danish building stock as a whole. However, the project has proven that dedicated engagement of locals can speed up market penetration...... energy savings in residential buildings. The intension with this analysis was to investigate the possible energy reduction in Denmark if the same approach had been taken for the entire Danish building stock. The report concludes that the ZeroHome initiative clearly results in energy savings, but far from...... for energy savings in the existing Building stock....

  20. Danish building typologies and building stock analyses

    DEFF Research Database (Denmark)

    Wittchen, Kim Bjarne; Kragh, Jesper

    energy savings in residential buildings. The intension with this analysis was to investigate the possible energy reduction in Denmark if the same approach had been taken for the entire Danish building stock. The report concludes that the ZeroHome initiative clearly results in energy savings, but far from...... enough to meet the government’s plan to make Danish buildings free from use of fossil fuels by 2035. This will probably require around 50 % energy savings in the Danish building stock as a whole. However, the project has proven that dedicated engagement of locals can speed up market penetration...... for energy savings in the existing Building stock....

  1. Efficient stock piling of 40mm shells

    Directory of Open Access Journals (Sweden)

    J. N. Nanda

    1958-10-01

    Full Text Available A problem was posed as to discuss efficient stock-piling of 40mm shells. There is, in fact no data from which emergency requirements can be deduced. A figure has been quoted by Army authorities that E rounds per month are required during an emergency. The size of the emergency stock pile will depend upon the difference of the normal peace time production, and also on the time taken for the crash programme of emergency production to come into fulfillment. In addition the delivery time from factories to the stock piles is also kept in view.

  2. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...

  3. Three Essays on Stock Market Volatility

    OpenAIRE

    Li, Qianru

    2008-01-01

    Volatility is inherently unobservable, and thus the selection of models and their definition is crucial in financial research. This dissertation attempts to check the role of investor sentiment and forecast Value-at-Risk (VaR) of the stock market using both parametric and nonparametric approaches. In the first essay, based on daily return data of three stock indices and four individual stocks from January 1988 to December 2006, the role of day-of-the-week, as well as investor sentiment, is ex...

  4. Stock or stroke? Stock market movement and stroke incidence in Taiwan.

    Science.gov (United States)

    Chen, Chun-Chih; Chen, Chin-Shyan; Liu, Tsai-Ching; Lin, Ying-Tzu

    2012-12-01

    This paper investigates the impact of stock market movement on incidences of stroke utilizing population-based aggregate data in Taiwan. Using the daily data from the Taiwan Stock Exchange Capitalization Weighted Stock Index and from the National Health Insurance Research Database during 2001/1/1-2007/12/31, which consist of 2556 observations, we examine the effects of stock market on stroke incidence - the level effect and the daily change effects. In general, we find that both a low stock index level and a daily fall in the stock index are associated with greater incidences of stroke. We further partition the data on sex and age. The level effect is found to be significant for either gender, in the 45-64 and 65 ≥ age groups. In addition, two daily change effects are found to be significant for males and the elderly. Although stockholdings can increase wealth, they can also increase stroke incidence, thereby representing a cost to health.

  5. FUNDAMENTAL ANALYSIS AND DISCOUNTED FREE CASH FLOW VALUATION OF STOCKS AT MACEDONIAN STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Nadica Ivanovska

    2014-06-01

    Full Text Available We examine the valuation performance of Discounted Free Cash Flow Model (DFCF at the Macedonian Stock Exchange (MSE in order to determine if this model offer significant level of accuracy and relevancy for stock values determination. We find that stock values calculated with DCF model are very close to average market prices which suggests that market prices oscillate near their fundamental values. We can conclude that DFCF models are useful tools for the companies’ enterprise values calculation on long term. The analysis of our results derived from stock valuation with DFCF model as well as comparison with average market stock prices suggest that discounted cash flow model is relatively reliable valuation tool that have to be used for stocks analyses at MSE.

  6. Are South East Europe stock markets integrated with regional and global stock markets?

    OpenAIRE

    Guidi, Francesco; Ugur, Mehmet

    2012-01-01

    This paper analyses whether stock markets of South East Europe (SEE) have become more integrated with regional and global stock markets during 2000s. Using a variety of co integration methodologies we show that SEE stock markets have no long-run relationship with their mature counterparts. This means that SEE markets might be immunized to external shocks. We also model time varying correlations among these markets by using Multivariate Generalised Autoregressive Conditional Heteroschedastic (...

  7. Does credit for equity investments feedback on stock market volatility? Evidence from an emerging stock market

    OpenAIRE

    Onour, Ibrahim

    2011-01-01

    This paper investigates the causal relationships between volatility in Saudi stock market and banks credit for equity investments. Our finding indicate there is a bi-directional feedback effects between the stock price volatility and banks credit loans. In other words, volatility in private credit for equity investments influence volatility in stock price and vice versa. A policy implication of such result is that regulating private credit loans in banking sector could reduce the upn...

  8. Notes: Installation vs. Echelon Stock Policies for Multilevel Inventory Control

    OpenAIRE

    Sven Axsäter; Kaj Rosling

    1993-01-01

    This paper compares installation and echelon stock policies for multilevel inventory control. The major results are for serial and assembly systems. For (Q, r)-rules, echelon stock policies are, in general, superior to installation stock policies. A Kanban-policy is identified as a restricted type of installation stock (Q, r)-policy.

  9. 12 CFR 931.3 - Minimum investment in capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum investment in capital stock. 931.3... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a) A Bank shall require each member to maintain a minimum investment in the capital stock of the Bank,...

  10. 26 CFR 1.306-3 - Section 306 stock defined.

    Science.gov (United States)

    2010-04-01

    ... extent that the fair market value of the stock rights, on the date distributed to the shareholder, would... the definition of section 306 stock any stock (except as provided in section 306(c)(1)(B)) the basis... classified if the basis of such stock is determined by reference to its fair market value on the date of...

  11. 47 CFR 65.303 - Cost of preferred stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Cost of preferred stock. 65.303 Section 65.303... stock. The formula for determining the cost of preferred stock is: ER01JN95.001 Where: “Total Annual Preferred Dividends” is the total dividends on preferred stock for the most recent two years for all...

  12. 12 CFR 925.21 - Issuance and form of stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance and form of stock. 925.21 Section 925... ASSOCIATES MEMBERS OF THE BANKS Stock Requirements § 925.21 Issuance and form of stock. (a) A Bank shall issue to each new member, as of the effective date of membership, stock in the member's name for...

  13. 26 CFR 1.1296-2 - Definition of marketable stock.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Definition of marketable stock. 1.1296-2 Section... Definition of marketable stock. (a) General rule. For purposes of section 1296, the term marketable stock means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as defined...

  14. Another Look at the Volatility of Stock Prices

    Science.gov (United States)

    Maruszewski, Richard F., Jr.

    2007-01-01

    Investors are interested in the volatility of a stock for various reasons. One investor may desire to purchase a low volatility stock for peace of mind. Another may be interested in a high volatility stock in order to have the opportunity to buy low and sell high as the price of the stock oscillates. This author had the fortunate timing of reading…

  15. Resilience and Critical Stock Size in a Stochastic Recruitment Model

    NARCIS (Netherlands)

    Grasman, J.; Huiskes, M.J.

    2001-01-01

    A stochastic model for fish recruitment is fitted to data after performing an age-structured stock assessment. The main aim is to investigate the relation between safe levels of spawning stock size and fish stock resilience. Resilience indicators, such as stock recovery time and the frequency that a

  16. Combining Stocks and Flows of Knowledge

    DEFF Research Database (Denmark)

    Ambos, Tina C.; Nell, Phillip Christopher; Pedersen, Torben

    In the area of knowledge management and knowledge governance, previous research has mostly focused on either knowledge stocks or knowledge flows of firms or organizational units. Contrary to this work, our study is among the first to integrate these two perspectives in order to shed light...... on the complementarity effects of different types of knowledge stocks and flows in the multinational corporation (MNC). We investigate intra-functional as well as cross-functional complementarity effects from the perspective of the knowledge recipient. We test the impact of stocks on flows on the benefit that is created...... for MNC units. Based on a comprehensive sample of 324 relationships between MNC units we find that both types of complementarity create benefits for these units, but that the effects from intra-functional combinations of knowledge stocks and flows are significantly stronger than from cross...

  17. Structural Estimation of Stock Market Participation Costs

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    2013-01-01

    This paper develops and estimates a dynamic model of stock market participation, where consumers' decisions regarding stock market participation are influenced by participation costs. The practical significance of the participation costs is considered as being a channel through which financial...... education programs can affect consumers' investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market participation cost is about 4–6% of labor...... income; however, it varies substantially over consumers' life. The model successfully predicts the level of the observed participation rate and the increasing pattern of stock market participation over the consumers' life cycle....

  18. Macroeconomic determinants of Malaysian stock market

    National Research Council Canada - National Science Library

    Aisyah Abdul Rahman; Noor Zahirah Mohd Sidek; Fauziah Hanim Tafri

    2009-01-01

    .... Upon testing a vector error correction model, we show that changes in Malaysian stock market index do perform a co-integrating relationship with changes in money supply, interest rate, exchange rate...

  19. Impact of money supply on stock bubbles

    National Research Council Canada - National Science Library

    Širůček, Martin

    2013-01-01

    This article focuses on the effect and implications of changes in money supply in the US on stock bubble rise on the US capital market, which is represented by the Dow Jones Industrial Average index...

  20. Decision Support for the Rolling Stock Dispatcher

    DEFF Research Database (Denmark)

    Groth, Julie Jespersen

    Real-time recovery is receiving a fast growing interest in an increasingly competitive railway operation market. This thesis considers the area of rolling stock dispatching which is one of the typical real-time railway dispatching problems. All work of the thesis is based on the network...... and planning processes of the railway operator DSB S-tog a/s. In the thesis the problems existing in the railway planning process from the strategic to real-time level are briefly sketched. Network planning, line planning, timetabling, crew and rolling stock planning is outlined and relevant references...... are given. Specifically the thesis references the operation research studies based on the railway operation of DSB S-tog a/s. Subsequently the process of dispatching is outlined with a specific emphasis on rolling stock. The rolling stock recovery problem is the problem of assigning train units to train...

  1. The volatility of stock market prices.

    Science.gov (United States)

    Shiller, R J

    1987-01-02

    If the volatility of stock market prices is to be understood in terms of the efficient markets hypothesis, then there should be evidence that true investment value changes through time sufficiently to justify the price changes. Three indicators of change in true investment value of the aggregate stock market in the United States from 1871 to 1986 are considered: changes in dividends, in real interest rates, and in a direct measure of intertemporal marginal rates of substitution. Although there are some ambiguities in interpreting the evidence, dividend changes appear to contribute very little toward justifying the observed historical volatility of stock prices. The other indicators contribute some, but still most of the volatility of stock market prices appears unexplained.

  2. Development of the stock exchange information system

    Directory of Open Access Journals (Sweden)

    Miladinović Radojko

    2006-01-01

    Full Text Available The stock exchange represents the key institution for the development of capital market of any country. Thus the information system of every stock exchange must satisfy very strict international standards. The development of these systems is particularly difficult in countries in transition, due to intense economic and legal changes, lack of technical and financial resources, lack of experience and knowledge in the area of the capital market business, etc. Therefore the special software project management methodology for their realization must be clearly defined. In the development process of the Belgrade Stock Exchange (BSE information system a new software project management methodology for its realization has been defined, the application of which is illustrated through a series of different development stages of the Belgrade Stock Exchange information system. In order to make all the problems more comprehensive, only the continuous trading method is described, being the most frequently used trading method in the world.

  3. Accrual components and stock trading costs

    Institute of Scientific and Technical Information of China (English)

    Qianhua; Lei

    2013-01-01

    This paper examines the relationship between accrual components and stock trading costs in China and finds that both abnormal and normal accruals are associated with these costs. Moreover, negative accruals, both abnormal and normal, have a greater influence on stock trading costs than positive accruals because of short-selling constraints in the Chinese stock market. Further analysis reveals that investors who are fixated on accruals are unable to separate positive or negative abnormal accruals from earnings in general.Additionally, investors overestimate the persistence of both positive and negative normal accruals. These findings constitute further evidence of the low degree of market efficiency in China. Chinese investors seem to overestimate firm value when abnormal and normal accruals are positive and underestimate it when they are negative, thus leading to an asymmetric effect on trading costs between positive and negative accruals in the face of short-selling constraints in the Chinese stock market.

  4. US Stock Market And Macroeconomic Factors

    National Research Council Canada - National Science Library

    Francisco Jareño; Loredana Negrut

    2016-01-01

    ..., the unemployment rate and long-term interest rates. All the relevant factors show statistically significant relationships with the stock market except for the consumer price index, and the signs are consistent with the findings of previous literature...

  5. Community monitoring of carbon stocks for REDD+

    DEFF Research Database (Denmark)

    Brofeldt, Søren; Theilade, Ida; Burgess, Neil David;

    2014-01-01

    Reducing emissions from deforestation and forest degradation in developing countries, and the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks in developing countries (REDD+) is a potentially powerful international policy mechanism that many tropical...

  6. SIS - Species and Stock Administrative Data Set

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Species and Stock Administrative data set within the Species Information System (SIS) defines entities within the database that serve as the basis for recording...

  7. Characterization of Trypanosoma brucei gambiense stocks isolated ...

    African Journals Online (AJOL)

    Administrator

    Full Length Research Paper .... UPGMA (Unweighted pair-group method with arithmetic average) ... Out of 23 pairs of stocks, only 13 pairs were strictly identical .... majeur de Trypanosoma cruzi, agent de la maladie de Chagas. DEA. Report.

  8. Influence network in Chinese stock market

    CERN Document Server

    Gao, Ya-Chun; Cai, Shi-Min

    2015-01-01

    In a stock market, the price fluctuations are interactive, that is, one listed company can influence others. In this paper, we seek to study the influence relationships among listed companies by constructing a directed network on the basis of Chinese stock market. This influence network shows distinct topological properties, particularly, a few large companies that can lead the tendency of stock market are recognized. Furthermore, by analyzing the subnetworks of listed companies distributed in several significant economic sectors, it is found that the influence relationships are totally different from one economic sector to another, of which three types of connectivity as well as hub-like listed companies are identified. In addition, the rankings of listed companies obtained from the centrality metrics of influence network are compared with that according to the assets, which gives inspiration to uncover and understand the importance of listed companies in the stock market. These empirical results are meaning...

  9. Scaling in the Bombay stock exchange index

    Indian Academy of Sciences (India)

    Ashok Razdan

    2002-03-01

    In this paper we study Bombay stock exchange (BSE) index financial time series for fractal and multifractal behaviour. We show that BSE index time series is monofractal and can be represented by a fractional Brownian motion.

  10. Macroeconomic Forces and Stock Prices:Evidence from the Bangladesh Stock Market

    OpenAIRE

    Khan, Mashrur Mustaque; Yousuf, Ahmed Sadek

    2013-01-01

    The study examines the influence of a selective set of macroeconomic forces on stock market prices in Bangladesh. The Dhaka Stock Exchange All-Share Price Index (DSI) is used to represent the prices in the stock market while deposit interest rates, exchange rates, consumer price index (CPI), crude oil prices and broad money supply (M2) are selected to represent the macroeconomic variables affecting the stock prices. Using monthly data from 1992m1-2011m6, several time-series techniques were us...

  11. Trading networks, abnormal motifs and stock manipulation

    OpenAIRE

    2012-01-01

    We study trade-based manipulation of stock prices from the perspective of complex trading networks constructed by using detailed information of trades. A stock trading network consists of nodes and directed links, where every trader is a node and a link is formed from one trader to the other if the former sells shares to the latter. Specifically, three abnormal network motifs are investigated, which are found to be formed by a few traders, implying potential intention of price manipulation. W...

  12. Econometric Studies of Stock Market Behaviour

    DEFF Research Database (Denmark)

    Rasmussen, Anne-Sofie Reng

    This thesis consists of three sefcontained essays, all centering around the topic of stock market behaviour. The papers focus on the empirical performance of a number of asset pricing models, all attempting to quantify and price asset risk. We look at how well these models actually do in describing...... the historic behaviour of the stock market, allowing us to get further insight into what drives the markes....

  13. Taxation, Transfer Income and Stock Market Participation

    DEFF Research Database (Denmark)

    Fischer, Marcel; Astrup Jensen, Bjarne

    2015-01-01

    This article studies the impact of a redistributive tax system on consumption, portfolio decisions, and asset prices in a dynamic general equilibrium model. Poorer agents, which receive more in transfers than they pay in taxes, optimally reduce their exposure to equity, because the transfer incom...... they receive is subject to stock market risk. This article thus provides a novel explanation for the low stock market participation rates of poorer investors....

  14. Oil price shocks and stock market activity

    Energy Technology Data Exchange (ETDEWEB)

    Sadorsky, P. [Schulich School of Business, York University, Toronto, ON (Canada)

    1999-10-01

    Results from a vector autoregression show that oil prices and oil price volatility both play important roles in affecting real stock returns. There is evidence that oil price dynamics have changed. After 1986, oil price movements explain a larger fraction of the forecast error variance in real stock returns than do interest rates. There is also evidence that oil price volatility shocks have asymmetric effects on the economy. 29 refs.

  15. Management Joint Stock Company by the Unitary

    OpenAIRE

    Gheorghe Lucian

    2012-01-01

    According to article 137, section III, subsection I of Law no.31/1990 republished, joint stock company is managed by one or more directors, their number is always odd. When there are more administrators, the law necessarily implies that we are in presence of a board of directors. In an imperative forms in paragraph 2 from article 137 states that joint stock companies whose annual financial statements subject to audit legal obligations are administered at least by 3 directors. Regarding the ap...

  16. Antidote Stocking at Hospitals in North Palestine

    Directory of Open Access Journals (Sweden)

    Ansam F. Sawalha

    2007-03-01

    Full Text Available Objective: The purpose of this study was to determine the availability and adequacy of antidote stocking at hospitals in north Palestine based on published guidelines for antidote stocking.Methodology: This study is a cross sectional survey of all hospitals at north Palestine (n=11 using a questionnaire which was completed by the director of the pharmacy department at each hospital. The questionnaire was divided into 2 parts. The first part contained a list of 25 antidotes while the second part contained a list of 12 antidotes. This classification is based on the guideline proposed by the British Association for Emergency Medicine (BAEM. The net antidote stock results were compared with the American guidelines as well.Result: The overall availability of each antidote in the first list varied widely from zero for glucagon to 100% for atropine. The number antidotes of the first list that were stocked in the 11 hospitals ranged from 5 to 12 antidotes but none of the hospitals stocked all the 25 antidotes. Additionally, availability of antidotes in the second list varied widely from zero for polyethylene glycol to 100% for dobutamine. The number of antidotes stocked ranged from 5 to 9 but none of the hospitals stocked all the 12 antidotes.Discussion and Conclusion: hospitals in north Palestine do not have adequate stock of antidotes. Raising awareness of the importance of antidotes by education, regular review of antidote storage, distribution plans, and appropriate legislation might provide solutions. Coordination between Palestinian hospitals and the PCDIC at An-Najah National University is also important.

  17. Stock Option Compensation and Managerial Turnover

    OpenAIRE

    Raluca Georgiana NASTASESCU

    2009-01-01

    This study examines the association between managerial turnover and equity-based compensation. I investigate whether stock options act to bond executives to their firms and whether retention of managers is a motivation of companies in designing CEO incentive contracts. The results show that stock options do negatively influence the probability of a CEO leaving the company. The monetary cost of losing the value of equity-based compensation package keeps the manager with his company. I also fin...

  18. Econometric Studies of Stock Market Behaviour

    DEFF Research Database (Denmark)

    Rasmussen, Anne-Sofie Reng

    This thesis consists of three sefcontained essays, all centering around the topic of stock market behaviour. The papers focus on the empirical performance of a number of asset pricing models, all attempting to quantify and price asset risk. We look at how well these models actually do in describing...... the historic behaviour of the stock market, allowing us to get further insight into what drives the markes....

  19. Horizontal/Vertical Stock Fund Cost Comparison

    Science.gov (United States)

    1974-08-01

    and the Stock Fund as They Relate to the Logistics System, HQ Third US Army, Fort McPhers on, Georgi a The Standardization of DOD Stock Fund...Installations and Logistics: Mr. Howard Mai tingly COL Thomas L. Stovall rnn fliKiMiMWiMMiiii E-3 Assistant Secretary of the Army (cont) US Army...Management Information Systems: Mr. Cliff L. Harrell AVSCOM Directorate of Materiel Management; Mr. B. Howard Mr. J. Moro Mr. Charles

  20. Participation Constraints in the Stock Market

    DEFF Research Database (Denmark)

    Andersen, Steffen; Meisner Nielsen, Kasper

    2011-01-01

    We use a natural experiment to investigate the impact of participation constraints on individuals' decisions to invest in the stock market. Unexpected inheritance due to sudden deaths results in exogenous variation in financial wealth, and allows us to examine whether fixed entry and ongoing......, the majority of households inheriting stock holdings actively sell the entire portfolio. Overall, these findings suggest that participation by many individuals is unlikely to be constrained by financial participation costs....

  1. Ultrasound beamforming using compressed data.

    Science.gov (United States)

    Li, Yen-Feng; Li, Pai-Chi

    2012-05-01

    The rapid advancements in electronics technologies have made software-based beamformers for ultrasound array imaging feasible, thus facilitating the rapid development of high-performance and potentially low-cost systems. However, one challenge to realizing a fully software-based system is transferring data from the analog front end to the software back end at rates of up to a few gigabits per second. This study investigated the use of data compression to reduce the data transfer requirements and optimize the associated trade-off with beamforming quality. JPEG and JPEG2000 compression techniques were adopted. The acoustic data of a line phantom were acquired with a 128-channel array transducer at a center frequency of 3.5 MHz, and the acoustic data of a cyst phantom were acquired with a 64-channel array transducer at a center frequency of 3.33 MHz. The receive-channel data associated with each transmit event are separated into 8 × 8 blocks and several tiles before JPEG and JPEG2000 data compression is applied, respectively. In one scheme, the compression was applied to raw RF data, while in another only the amplitude of baseband data was compressed. The maximum compression ratio of RF data compression to produce an average error of lower than 5 dB was 15 with JPEG compression and 20 with JPEG2000 compression. The image quality is higher with baseband amplitude data compression than with RF data compression; although the maximum overall compression ratio (compared with the original RF data size), which was limited by the data size of uncompressed phase data, was lower than 12, the average error in this case was lower than 1 dB when the compression ratio was lower than 8.

  2. The compression of liquids

    Science.gov (United States)

    Whalley, E.

    The compression of liquids can be measured either directly by applying a pressure and noting the volume change, or indirectly, by measuring the magnitude of the fluctuations of the local volume. The methods used in Ottawa for the direct measurement of the compression are reviewed. The mean-square deviation of the volume from the mean at constant temperature can be measured by X-ray and neutron scattering at low angles, and the meansquare deviation at constant entropy can be measured by measuring the speed of sound. The speed of sound can be measured either acoustically, using an acoustic transducer, or by Brillouin spectroscopy. Brillouin spectroscopy can also be used to study the shear waves in liquids if the shear relaxation time is > ∼ 10 ps. The relaxation time of water is too short for the shear waves to be studied in this way, but they do occur in the low-frequency Raman and infrared spectra. The response of the structure of liquids to pressure can be studied by neutron scattering, and recently experiments have been done at Atomic Energy of Canada Ltd, Chalk River, on liquid D 2O up to 15.6 kbar. They show that the near-neighbor intermolecular O-D and D-D distances are less spread out and at shorter distances at high pressure. Raman spectroscopy can also provide information on the structural response. It seems that the O-O distance in water decreases much less with pressure than it does in ice. Presumably, the bending of O-O-O angles tends to increase the O-O distance, and so to largely compensate the compression due to the direct effect of pressure.

  3. Compressive Transient Imaging

    KAUST Repository

    Sun, Qilin

    2017-04-01

    High resolution transient/3D imaging technology is of high interest in both scientific research and commercial application. Nowadays, all of the transient imaging methods suffer from low resolution or time consuming mechanical scanning. We proposed a new method based on TCSPC and Compressive Sensing to achieve a high resolution transient imaging with a several seconds capturing process. Picosecond laser sends a serious of equal interval pulse while synchronized SPAD camera\\'s detecting gate window has a precise phase delay at each cycle. After capturing enough points, we are able to make up a whole signal. By inserting a DMD device into the system, we are able to modulate all the frames of data using binary random patterns to reconstruct a super resolution transient/3D image later. Because the low fill factor of SPAD sensor will make a compressive sensing scenario ill-conditioned, We designed and fabricated a diffractive microlens array. We proposed a new CS reconstruction algorithm which is able to denoise at the same time for the measurements suffering from Poisson noise. Instead of a single SPAD senor, we chose a SPAD array because it can drastically reduce the requirement for the number of measurements and its reconstruction time. Further more, it not easy to reconstruct a high resolution image with only one single sensor while for an array, it just needs to reconstruct small patches and a few measurements. In this thesis, we evaluated the reconstruction methods using both clean measurements and the version corrupted by Poisson noise. The results show how the integration over the layers influence the image quality and our algorithm works well while the measurements suffer from non-trival Poisson noise. It\\'s a breakthrough in the areas of both transient imaging and compressive sensing.

  4. Statistical Mechanical Analysis of Compressed Sensing Utilizing Correlated Compression Matrix

    CERN Document Server

    Takeda, Koujin

    2010-01-01

    We investigate a reconstruction limit of compressed sensing for a reconstruction scheme based on the L1-norm minimization utilizing a correlated compression matrix with a statistical mechanics method. We focus on the compression matrix modeled as the Kronecker-type random matrix studied in research on multi-input multi-output wireless communication systems. We found that strong one-dimensional correlations between expansion bases of original information slightly degrade reconstruction performance.

  5. Compressive full waveform lidar

    Science.gov (United States)

    Yang, Weiyi; Ke, Jun

    2017-05-01

    To avoid high bandwidth detector, fast speed A/D converter, and large size memory disk, a compressive full waveform LIDAR system, which uses a temporally modulated laser instead of a pulsed laser, is studied in this paper. Full waveform data from NEON (National Ecological Observatory Network) are used. Random binary patterns are used to modulate the source. To achieve 0.15 m ranging resolution, a 100 MSPS A/D converter is assumed to make measurements. SPIRAL algorithm with canonical basis is employed when Poisson noise is considered in the low illuminated condition.

  6. Metal Hydride Compression

    Energy Technology Data Exchange (ETDEWEB)

    Johnson, Terry A. [Sandia National Lab. (SNL-CA), Livermore, CA (United States); Bowman, Robert [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Smith, Barton [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Anovitz, Lawrence [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Jensen, Craig [Hawaii Hydrogen Carriers LLC, Honolulu, HI (United States)

    2017-07-01

    Conventional hydrogen compressors often contribute over half of the cost of hydrogen stations, have poor reliability, and have insufficient flow rates for a mature FCEV market. Fatigue associated with their moving parts including cracking of diaphragms and failure of seal leads to failure in conventional compressors, which is exacerbated by the repeated starts and stops expected at fueling stations. Furthermore, the conventional lubrication of these compressors with oil is generally unacceptable at fueling stations due to potential fuel contamination. Metal hydride (MH) technology offers a very good alternative to both conventional (mechanical) and newly developed (electrochemical, ionic liquid pistons) methods of hydrogen compression. Advantages of MH compression include simplicity in design and operation, absence of moving parts, compactness, safety and reliability, and the possibility to utilize waste industrial heat to power the compressor. Beyond conventional H2 supplies of pipelines or tanker trucks, another attractive scenario is the on-site generating, pressuring and delivering pure H2 at pressure (≥ 875 bar) for refueling vehicles at electrolysis, wind, or solar generating production facilities in distributed locations that are too remote or widely distributed for cost effective bulk transport. MH hydrogen compression utilizes a reversible heat-driven interaction of a hydride-forming metal alloy with hydrogen gas to form the MH phase and is a promising process for hydrogen energy applications [1,2]. To deliver hydrogen continuously, each stage of the compressor must consist of multiple MH beds with synchronized hydrogenation & dehydrogenation cycles. Multistage pressurization allows achievement of greater compression ratios using reduced temperature swings compared to single stage compressors. The objectives of this project are to investigate and demonstrate on a laboratory scale a two-stage MH hydrogen (H2) gas compressor with a

  7. Beamforming using compressive sensing.

    Science.gov (United States)

    Edelmann, Geoffrey F; Gaumond, Charles F

    2011-10-01

    Compressive sensing (CS) is compared with conventional beamforming using horizontal beamforming of at-sea, towed-array data. They are compared qualitatively using bearing time records and quantitatively using signal-to-interference ratio. Qualitatively, CS exhibits lower levels of background interference than conventional beamforming. Furthermore, bearing time records show increasing, but tolerable, levels of background interference when the number of elements is decreased. For the full array, CS generates signal-to-interference ratio of 12 dB, but conventional beamforming only 8 dB. The superiority of CS over conventional beamforming is much more pronounced with undersampling.

  8. The Development of Stock Markets: In Search of a Theory

    OpenAIRE

    KAMAL A. EL-WASSAL

    2013-01-01

    This paper aims to provide a framework for the main determinants of stock market development. Assessing stock market development requires not only an understanding of its main determinants but also a clear definition of what “stock market development” means and how progress towards it can be measured. This paper reconsiders the concept of stock market development and suggests five dimensions for assessing it. In addition, it proposes four sets of factors that shape or determine stock market d...

  9. Stock-based compensation plans and employee incentives

    OpenAIRE

    Zabojnik, Jan

    2014-01-01

    Standard principal-agent theory predicts that large firms should not use employee stock options and other stock-based compensation to provide incentives to non-executive employees. Yet, business practitioners appear to believe that stock-based compensation improves incentives, and mounting empirical evidence points to the same conclusion. This paper provides an explanation for why stock-based incentives can be effective. In the model of this paper, employee stock options complement individual...

  10. Analysing correlation between the MSE index and global stock markets

    OpenAIRE

    Ellul, Reuben

    2015-01-01

    The paper investigates the time-varying correlation between the Malta Stock Exchange (MSE) index, and five major international stock markets. An MGARCH-DCC approach is employed to measure the degree to which the MSE moves with other stock markets. Daily returns on these six stock exchange indices were computed and used to calculate dynamic conditional correlations (DCCs) between the markets. The results indicate that the local stock market appears not to be driven by the same forces that shap...

  11. Which stocks are profitable? A network method to investigate the effects of network structure on stock returns

    Science.gov (United States)

    Chen, Kun; Luo, Peng; Sun, Bianxia; Wang, Huaiqing

    2015-10-01

    According to asset pricing theory, a stock's expected returns are determined by its exposure to systematic risk. In this paper, we propose a new method for analyzing the interaction effects among industries and stocks on stock returns. We construct a complex network based on correlations of abnormal stock returns and use centrality and modularity, two popular measures in social science, to determine the effect of interconnections on industry and stock returns. Supported by previous studies, our findings indicate that a relationship exists between inter-industry closeness and industry returns and between stock centrality and stock returns. The theoretical and practical contributions of these findings are discussed.

  12. Compressive sensing in medical imaging.

    Science.gov (United States)

    Graff, Christian G; Sidky, Emil Y

    2015-03-10

    The promise of compressive sensing, exploitation of compressibility to achieve high quality image reconstructions with less data, has attracted a great deal of attention in the medical imaging community. At the Compressed Sensing Incubator meeting held in April 2014 at OSA Headquarters in Washington, DC, presentations were given summarizing some of the research efforts ongoing in compressive sensing for x-ray computed tomography and magnetic resonance imaging systems. This article provides an expanded version of these presentations. Sparsity-exploiting reconstruction algorithms that have gained popularity in the medical imaging community are studied, and examples of clinical applications that could benefit from compressive sensing ideas are provided. The current and potential future impact of compressive sensing on the medical imaging field is discussed.

  13. Speech Compression Using Multecirculerletet Transform

    Directory of Open Access Journals (Sweden)

    Sulaiman Murtadha

    2012-01-01

    Full Text Available Compressing the speech reduces the data storage requirements, leading to reducing the time of transmitting the digitized speech over long-haul links like internet. To obtain best performance in speech compression, wavelet transforms require filters that combine a number of desirable properties, such as orthogonality and symmetry.The MCT bases functions are derived from GHM bases function using 2D linear convolution .The fast computation algorithm methods introduced here added desirable features to the current transform. We further assess the performance of the MCT in speech compression application. This paper discusses the effect of using DWT and MCT (one and two dimension on speech compression. DWT and MCT performances in terms of compression ratio (CR, mean square error (MSE and peak signal to noise ratio (PSNR are assessed. Computer simulation results indicate that the two dimensions MCT offer a better compression ratio, MSE and PSNR than DWT.

  14. libpolycomp: Compression/decompression library

    Science.gov (United States)

    Tomasi, Maurizio

    2016-04-01

    Libpolycomp compresses and decompresses one-dimensional streams of numbers by means of several algorithms. It is well-suited for time-ordered data acquired by astronomical instruments or simulations. One of the algorithms, called "polynomial compression", combines two widely-used ideas (namely, polynomial approximation and filtering of Fourier series) to achieve substantial compression ratios for datasets characterized by smoothness and lack of noise. Notable examples are the ephemerides of astronomical objects and the pointing information of astronomical telescopes. Other algorithms implemented in this C library are well known and already widely used, e.g., RLE, quantization, deflate (via libz) and Burrows-Wheeler transform (via libbzip2). Libpolycomp can compress the timelines acquired by the Planck/LFI instrument with an overall compression ratio of ~9, while other widely known programs (gzip, bzip2) reach compression ratios less than 1.5.

  15. Image Compression using GSOM Algorithm

    Directory of Open Access Journals (Sweden)

    SHABBIR AHMAD

    2015-10-01

    Full Text Available compression. Conventional techniques such as Huffman coding and the Shannon Fano method, LZ Method, Run Length Method, LZ-77 are more recent methods for the compression of data. A traditional approach to reduce the large amount of data would be to discard some data redundancy and introduce some noise after reconstruction. We present a neural network based Growing self-organizing map technique that may be a reliable and efficient way to achieve vector quantization. Typical application of such algorithm is image compression. Moreover, Kohonen networks realize a mapping between an input and an output space that preserves topology. This feature can be used to build new compression schemes which allow obtaining better compression rate than with classical method as JPEG without reducing the image quality .the experiment result show that proposed algorithm improve the compression ratio in BMP, JPG and TIFF File.

  16. Data compression on the sphere

    CERN Document Server

    McEwen, J D; Eyers, D M; 10.1051/0004-6361/201015728

    2011-01-01

    Large data-sets defined on the sphere arise in many fields. In particular, recent and forthcoming observations of the anisotropies of the cosmic microwave background (CMB) made on the celestial sphere contain approximately three and fifty mega-pixels respectively. The compression of such data is therefore becoming increasingly important. We develop algorithms to compress data defined on the sphere. A Haar wavelet transform on the sphere is used as an energy compression stage to reduce the entropy of the data, followed by Huffman and run-length encoding stages. Lossless and lossy compression algorithms are developed. We evaluate compression performance on simulated CMB data, Earth topography data and environmental illumination maps used in computer graphics. The CMB data can be compressed to approximately 40% of its original size for essentially no loss to the cosmological information content of the data, and to approximately 20% if a small cosmological information loss is tolerated. For the topographic and il...

  17. Energy transfer in compressible turbulence

    Science.gov (United States)

    Bataille, Francoise; Zhou, YE; Bertoglio, Jean-Pierre

    1995-01-01

    This letter investigates the compressible energy transfer process. We extend a methodology developed originally for incompressible turbulence and use databases from numerical simulations of a weak compressible turbulence based on Eddy-Damped-Quasi-Normal-Markovian (EDQNM) closure. In order to analyze the compressible mode directly, the well known Helmholtz decomposition is used. While the compressible component has very little influence on the solenoidal part, we found that almost all of the compressible turbulence energy is received from its solenoidal counterpart. We focus on the most fundamental building block of the energy transfer process, the triadic interactions. This analysis leads us to conclude that, at low turbulent Mach number, the compressible energy transfer process is dominated by a local radiative transfer (absorption) in both inertial and energy containing ranges.

  18. Perceptually Lossless Wavelet Compression

    Science.gov (United States)

    Watson, Andrew B.; Yang, Gloria Y.; Solomon, Joshua A.; Villasenor, John

    1996-01-01

    The Discrete Wavelet Transform (DWT) decomposes an image into bands that vary in spatial frequency and orientation. It is widely used for image compression. Measures of the visibility of DWT quantization errors are required to achieve optimal compression. Uniform quantization of a single band of coefficients results in an artifact that is the sum of a lattice of random amplitude basis functions of the corresponding DWT synthesis filter, which we call DWT uniform quantization noise. We measured visual detection thresholds for samples of DWT uniform quantization noise in Y, Cb, and Cr color channels. The spatial frequency of a wavelet is r 2(exp -1), where r is display visual resolution in pixels/degree, and L is the wavelet level. Amplitude thresholds increase rapidly with spatial frequency. Thresholds also increase from Y to Cr to Cb, and with orientation from low-pass to horizontal/vertical to diagonal. We propose a mathematical model for DWT noise detection thresholds that is a function of level, orientation, and display visual resolution. This allows calculation of a 'perceptually lossless' quantization matrix for which all errors are in theory below the visual threshold. The model may also be used as the basis for adaptive quantization schemes.

  19. Compressive Sensing DNA Microarrays

    Directory of Open Access Journals (Sweden)

    Richard G. Baraniuk

    2009-01-01

    Full Text Available Compressive sensing microarrays (CSMs are DNA-based sensors that operate using group testing and compressive sensing (CS principles. In contrast to conventional DNA microarrays, in which each genetic sensor is designed to respond to a single target, in a CSM, each sensor responds to a set of targets. We study the problem of designing CSMs that simultaneously account for both the constraints from CS theory and the biochemistry of probe-target DNA hybridization. An appropriate cross-hybridization model is proposed for CSMs, and several methods are developed for probe design and CS signal recovery based on the new model. Lab experiments suggest that in order to achieve accurate hybridization profiling, consensus probe sequences are required to have sequence homology of at least 80% with all targets to be detected. Furthermore, out-of-equilibrium datasets are usually as accurate as those obtained from equilibrium conditions. Consequently, one can use CSMs in applications in which only short hybridization times are allowed.

  20. Compressive light field sensing.

    Science.gov (United States)

    Babacan, S Derin; Ansorge, Reto; Luessi, Martin; Matarán, Pablo Ruiz; Molina, Rafael; Katsaggelos, Aggelos K

    2012-12-01

    We propose a novel design for light field image acquisition based on compressive sensing principles. By placing a randomly coded mask at the aperture of a camera, incoherent measurements of the light passing through different parts of the lens are encoded in the captured images. Each captured image is a random linear combination of different angular views of a scene. The encoded images are then used to recover the original light field image via a novel Bayesian reconstruction algorithm. Using the principles of compressive sensing, we show that light field images with a large number of angular views can be recovered from only a few acquisitions. Moreover, the proposed acquisition and recovery method provides light field images with high spatial resolution and signal-to-noise-ratio, and therefore is not affected by limitations common to existing light field camera designs. We present a prototype camera design based on the proposed framework by modifying a regular digital camera. Finally, we demonstrate the effectiveness of the proposed system using experimental results with both synthetic and real images.

  1. Splines in Compressed Sensing

    Directory of Open Access Journals (Sweden)

    S. Abhishek

    2016-07-01

    Full Text Available It is well understood that in any data acquisition system reduction in the amount of data reduces the time and energy, but the major trade-off here is the quality of outcome normally, lesser the amount of data sensed, lower the quality. Compressed Sensing (CS allows a solution, for sampling below the Nyquist rate. The challenging problem of increasing the reconstruction quality with less number of samples from an unprocessed data set is addressed here by the use of representative coordinate selected from different orders of splines. We have made a detailed comparison with 10 orthogonal and 6 biorthogonal wavelets with two sets of data from MIT Arrhythmia database and our results prove that the Spline coordinates work better than the wavelets. The generation of two new types of splines such as exponential and double exponential are also briefed here .We believe that this is one of the very first attempts made in Compressed Sensing based ECG reconstruction problems using raw data.  

  2. q-ary compressive sensing

    OpenAIRE

    Mroueh, Youssef; Rosasco, Lorenzo

    2013-01-01

    We introduce q-ary compressive sensing, an extension of 1-bit compressive sensing. We propose a novel sensing mechanism and a corresponding recovery procedure. The recovery properties of the proposed approach are analyzed both theoretically and empirically. Results in 1-bit compressive sensing are recovered as a special case. Our theoretical results suggest a tradeoff between the quantization parameter q, and the number of measurements m in the control of the error of the resulting recovery a...

  3. Introduction to compressible fluid flow

    CERN Document Server

    Oosthuizen, Patrick H

    2013-01-01

    IntroductionThe Equations of Steady One-Dimensional Compressible FlowSome Fundamental Aspects of Compressible FlowOne-Dimensional Isentropic FlowNormal Shock WavesOblique Shock WavesExpansion Waves - Prandtl-Meyer FlowVariable Area FlowsAdiabatic Flow with FrictionFlow with Heat TransferLinearized Analysis of Two-Dimensional Compressible FlowsHypersonic and High-Temperature FlowsHigh-Temperature Gas EffectsLow-Density FlowsBibliographyAppendices

  4. Compressive sensing of sparse tensors.

    Science.gov (United States)

    Friedland, Shmuel; Li, Qun; Schonfeld, Dan

    2014-10-01

    Compressive sensing (CS) has triggered an enormous research activity since its first appearance. CS exploits the signal's sparsity or compressibility in a particular domain and integrates data compression and acquisition, thus allowing exact reconstruction through relatively few nonadaptive linear measurements. While conventional CS theory relies on data representation in the form of vectors, many data types in various applications, such as color imaging, video sequences, and multisensor networks, are intrinsically represented by higher order tensors. Application of CS to higher order data representation is typically performed by conversion of the data to very long vectors that must be measured using very large sampling matrices, thus imposing a huge computational and memory burden. In this paper, we propose generalized tensor compressive sensing (GTCS)-a unified framework for CS of higher order tensors, which preserves the intrinsic structure of tensor data with reduced computational complexity at reconstruction. GTCS offers an efficient means for representation of multidimensional data by providing simultaneous acquisition and compression from all tensor modes. In addition, we propound two reconstruction procedures, a serial method and a parallelizable method. We then compare the performance of the proposed method with Kronecker compressive sensing (KCS) and multiway compressive sensing (MWCS). We demonstrate experimentally that GTCS outperforms KCS and MWCS in terms of both reconstruction accuracy (within a range of compression ratios) and processing speed. The major disadvantage of our methods (and of MWCS as well) is that the compression ratios may be worse than that offered by KCS.

  5. Uncommon upper extremity compression neuropathies.

    Science.gov (United States)

    Knutsen, Elisa J; Calfee, Ryan P

    2013-08-01

    Hand surgeons routinely treat carpal and cubital tunnel syndromes, which are the most common upper extremity nerve compression syndromes. However, more infrequent nerve compression syndromes of the upper extremity may be encountered. Because they are unusual, the diagnosis of these nerve compression syndromes is often missed or delayed. This article reviews the causes, proposed treatments, and surgical outcomes for syndromes involving compression of the posterior interosseous nerve, the superficial branch of the radial nerve, the ulnar nerve at the wrist, and the median nerve proximal to the wrist. Copyright © 2013 Elsevier Inc. All rights reserved.

  6. Image Compression Algorithms Using Dct

    Directory of Open Access Journals (Sweden)

    Er. Abhishek Kaushik

    2014-04-01

    Full Text Available Image compression is the application of Data compression on digital images. The discrete cosine transform (DCT is a technique for converting a signal into elementary frequency components. It is widely used in image compression. Here we develop some simple functions to compute the DCT and to compress images. An image compression algorithm was comprehended using Matlab code, and modified to perform better when implemented in hardware description language. The IMAP block and IMAQ block of MATLAB was used to analyse and study the results of Image Compression using DCT and varying co-efficients for compression were developed to show the resulting image and error image from the original images. Image Compression is studied using 2-D discrete Cosine Transform. The original image is transformed in 8-by-8 blocks and then inverse transformed in 8-by-8 blocks to create the reconstructed image. The inverse DCT would be performed using the subset of DCT coefficients. The error image (the difference between the original and reconstructed image would be displayed. Error value for every image would be calculated over various values of DCT co-efficients as selected by the user and would be displayed in the end to detect the accuracy and compression in the resulting image and resulting performance parameter would be indicated in terms of MSE , i.e. Mean Square Error.

  7. 12 CFR 333.4 - Conversions from mutual to stock form.

    Science.gov (United States)

    2010-01-01

    .... 1828(i)(1)). (e) Stock benefit plan limitations. The FDIC will presume that a stock option plan or..., implement a stock option plan or management or employee stock benefit plan, other than a tax-qualified... the stock issuance; (4) For stock option plans, stock options are granted at no lower than the...

  8. Taking stock: provider prescribing practices in the presence and absence of ACT stock

    Directory of Open Access Journals (Sweden)

    Jones Caroline

    2011-08-01

    Full Text Available Abstract Background Globally, the monitoring of prompt and effective treatment for malaria with artemisinin combination therapy (ACT is conducted largely through household surveys. This measure; however, provides no information on case management processes at the health facility level. The aim of this review was to assess evidence from health facility surveys on malaria prescribing practices using ACT, in the presence and absence of ACT stock, at time and place where treatment was sought. Methods A systematic search of published literature was conducted. Findings were collated and data extracted on proportion of patients prescribed ACT and alternative anti-malarials in the presence and absence of ACT stock. Results Of the 14 studies identified in which ACT prescription for uncomplicated malaria in the public sector was evaluated, just six, from three countries (Kenya, Uganda and Zambia, reported this in the context of ACT stock. Comparing facilities with ACT stock to facilities without stock (i ACT prescribing was significantly higher in all six studies, increasing by a range of 21.3% in children Conclusions Prescriber practices vary based on ACT availability. Although ACT prescriptions increased and alternative anti-malarials prescriptions decreased in the presence of ACT stock, ACT was prescribed in the absence, and alternative anti-malarials were prescribed in the presence of, ACT. Presence of stock alone does not ensure that treatment guidelines are followed. More health facility surveys, together with qualitative research, are needed to understand the role of ACT stock-outs on provider prescribing behaviours and preferences.

  9. ADVISABILITY OF MERGING THE BUCHAREST STOCK EXCHANGE AND THE SIBIU MONETARYFINANCIAL AND STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Aura Dudas

    2011-01-01

    Full Text Available Analysis of performances of local stock exchanges in the latest years points out thenecessity of increasing the visibility of the local capital market in the regional andEuropean landscape. A single stock market may have the effect of increased credibility,giving thus an impulse to the number of new listings and of new investors.

  10. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Science.gov (United States)

    2010-01-01

    ..., the term “depository institution” shall have the meaning set forth at 12 CFR 552.13(b). An application... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Conversion from stock form depository institution to Federal stock association. 552.2-6 Section 552.2-6 Banks and Banking OFFICE OF...

  11. 12 CFR 950.11 - Capital stock requirements; unilateral redemption of excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Capital stock requirements; unilateral redemption of excess stock. 950.11 Section 950.11 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.11 Capital...

  12. 76 FR 7236 - Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Boston Stock Exchange...

    Science.gov (United States)

    2011-02-09

    ... share, for $21.82 per share (approximately $497 million in aggregate) from Borse Dubai Limited (``Borse Dubai'') (``Stock Repurchase''). Also on December 16, 2010, Nomura International plc (``Nomura'') agreed to purchase 8 million shares of NASDAQ OMX common stock from Borse Dubai (``Nomura Purchase'')....

  13. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Science.gov (United States)

    2010-04-01

    ... acquisition of rights, such as shareholder or pre-emptive rights, pursuant to a pro rata grant to all holders..., and pro rata rights. 240.16a-9 Section 240.16a-9 Commodity and Securities Exchanges SECURITIES AND... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The...

  14. Responsible genetic approach to stock restoration, sea ranching and stock enhancement of marine fishes and invertebrates

    DEFF Research Database (Denmark)

    Grant, W. Stewart; Jasper, James; Bekkevold, Dorte

    2017-01-01

    The origins of agriculture date to about 9000 years, but commercial culture and supplementation of marine populations reach back only a few centuries. Hence, wild populations still play a major role in seafood production. Closed culture, stock restorations, sea ranching and stock enhancements of ...

  15. Stocks and energy shocks : the impact of energy accidents on stock market value

    NARCIS (Netherlands)

    Scholtens, B.; Boersen, A.

    2011-01-01

    We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool's (2008) database on major energy accidents from 1907 to 2007. It appears that the stock market in

  16. Optimization Stock Portfolio With Mean-Variance and Linear Programming: Case In Indonesia Stock Market

    Directory of Open Access Journals (Sweden)

    Yen Sun

    2010-04-01

    Full Text Available It is observed that the number of Indonesias domestic investor who involved in the stock exchange is very less compare to its total number of population (only about 0.1%. As a result, Indonesia Stock Exchange (IDX is highly affected by foreign investor that can threat the economy. Domestic investor tends to invest in risk-free asset such as deposit in the bank since they are not familiar yet with the stock market and anxious about the risk (risk-averse type of investor. Therefore, it is important to educate domestic investor to involve in the stock exchange. Investing in portfolio of stock is one of the best choices for risk-averse investor (such as Indonesia domestic investor since it offers lower risk for a given level of return. This paper studies the optimization of Indonesian stock portfolio. The data is the historical return of 10 stocks of LQ 45 for 5 time series (January 2004 December 2008. It will be focus on selecting stocks into a portfolio, setting 10 of stock portfolios using mean-variance method combining with the linear programming (solver. Furthermore, based on Efficient Frontier concept and Sharpe measurement, there will be one stock portfolio picked as an optimum Portfolio (Namely Portfolio G. Then, Performance of portfolio G will be evaluated by using Sharpe, Treynor and Jensen Measurement to show whether the return of Portfolio G exceeds the market return. This paper also illustrates how the stock composition of the Optimum Portfolio (G succeeds to predict the portfolio return in the future (5th January 3rd April 2009. The result of the study observed that optimization portfolio using Mean-Variance (consistent with Markowitz theory combine with linear programming can be applied into Indonesia stocks portfolio. All the measurements (Sharpe, Jensen, and Treynor show that the portfolio G is a superior portfolio. It is also been found that the composition (weights stocks of optimum portfolio (G can be used to predict the forward

  17. Crude oil price shocks and stock returns. Evidence from Turkish stock market under global liquidity conditions

    Energy Technology Data Exchange (ETDEWEB)

    Berk, Istemi [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Aydogan, Berna [Izmir Univ. of Economics (Turkey). Dept. of International Trade and Finance

    2012-09-15

    The purpose of this study is to investigate the impacts of crude oil price variations on the Turkish stock market returns. We have employed vector autoregression (V AR) model using daily observations of Brent crude oil prices and Istanbul Stock Exchange National Index (ISE- 1 00) returns for the period between January 2, 1990 and November 1, 2011. We have also tested the relationship between oil prices and stock market returns under global liquidity conditions by incorporating a liquidity proxy variable, Chicago Board of Exchange's (CBOE) S and P 500 market volatility index (VIX), into the model. Variance decomposition test results suggest little empirical evidence that crude oil price shocks have been rationally evaluated in the Turkish stock market. Rather, it was global liquidity conditions that were found to account for the greatest amount of variation in stock market returns.

  18. An underwater acoustic data compression method based on compressed sensing

    Institute of Scientific and Technical Information of China (English)

    郭晓乐; 杨坤德; 史阳; 段睿

    2016-01-01

    The use of underwater acoustic data has rapidly expanded with the application of multichannel, large-aperture underwater detection arrays. This study presents an underwater acoustic data compression method that is based on compressed sensing. Underwater acoustic signals are transformed into the sparse domain for data storage at a receiving terminal, and the improved orthogonal matching pursuit (IOMP) algorithm is used to reconstruct the original underwater acoustic signals at a data processing terminal. When an increase in sidelobe level occasionally causes a direction of arrival estimation error, the proposed compression method can achieve a 10 times stronger compression for narrowband signals and a 5 times stronger compression for wideband signals than the orthogonal matching pursuit (OMP) algorithm. The IOMP algorithm also reduces the computing time by about 20% more than the original OMP algorithm. The simulation and experimental results are discussed.

  19. Long memory in the Croatian and Hungarian stock market returns

    Directory of Open Access Journals (Sweden)

    Silvo Dajčman

    2012-06-01

    Full Text Available The objective of this paper is to analyze and compare the fractal structure of the Croatian and Hungarian stock market returns. The presence of long memory components in asset returns provides evidence against the weak-form of stock market efficiency. The starting working hypothesis that there is no long memory in the Croatian and Hungarian stock market returns is tested by applying the Kwiatkowski-Phillips-Schmidt-Shin (KPSS (1992 test, Lo’s (1991 modified rescaled range (R/S test, and the wavelet ordinary least squares (WOLS estimator of Jensen (1999. The research showed that the WOLS estimator may lead to different conclusions regarding long memory presence in the stock returns from the KPSS and unit root tests or Lo’s R/S test. Furthermore, it proved that the fractal structure of individual stock returns may be masked in aggregated stock market returns (i.e. in returns of stock index. The main finding of the paper is that both the Croatian stock index Crobex and individual stocks in this index exhibit long memory. Long memory is identified for some stocks in the Hungarian stock market as well, but not for the stock market index BUX. Based on the results of the long memory tests, it can be concluded that while the Hungarian stock market is weakform efficient, the Croatian stock market is not.

  20. Stock selection using support vector machine in Chinese securities exchange

    Institute of Scientific and Technical Information of China (English)

    TIAN Bo-ping; GONG Qi; YANG Yu-shu; SHANG Zhi-hui; FENG Ying-jun

    2007-01-01

    The risk and performance of ST stocks are studied. The SVM method is applied on 100 general stocks and 100 ST stocks selected from the website, and a criterion is gotten to select stocks, then the risk of these sample stocks is analysed. In the performance evaluation, the SVM method is also applied on the 100 general stocks and 100 ST stocks according to the return per share, and 57 stocks which are all + 1 are selected. Their equally weighted return rate is only -0.02%, but equally weighted return rate of 31 general stocks is 13.23%, that of 26 ST stocks is -96.15%. Naturally, we conclude that ST stocks are unsteady and do not deserve long-term investment. From the Chinese fund website, we know that equally weighted return rate of stock fund in 2004 was -3.3%, so the equally weighted return rate of the selected stocks (except ST stocks)is much higher than that of average return rate.

  1. TPC data compression

    Energy Technology Data Exchange (ETDEWEB)

    Berger, Jens; Frankenfeld, Ulrich; Lindenstruth, Volker; Plamper, Patrick; Roehrich, Dieter; Schaefer, Erich; W. Schulz, Markus; M. Steinbeck, Timm; Stock, Reinhard; Sulimma, Kolja; Vestboe, Anders; Wiebalck, Arne E-mail: wiebalck@kip.uni-heidelberg.de

    2002-08-21

    In the collisions of ultra-relativistic heavy ions in fixed-target and collider experiments, multiplicities of several ten thousand charged particles are generated. The main devices for tracking and particle identification are large-volume tracking detectors (TPCs) producing raw event sizes in excess of 100 Mbytes per event. With increasing data rates, storage becomes the main limiting factor in such experiments and, therefore, it is essential to represent the data in a way that is as concise as possible. In this paper, we present several compression schemes, such as entropy encoding, modified vector quantization, and data modeling techniques applied on real data from the CERN SPS experiment NA49 and on simulated data from the future CERN LHC experiment ALICE.

  2. TPC data compression

    CERN Document Server

    Berger, Jens; Lindenstruth, Volker; Plamper, Patrick; Röhrich, Dieter; Schafer, Erich; Schulz, M W; Steinbeck, T M; Stock, Reinhard; Sulimma, Kolja; Vestbo, Anders S; Wiebalck, Arne

    2002-01-01

    In the collisions of ultra-relativistic heavy ions in fixed-target and collider experiments, multiplicities of several ten thousand charged particles are generated. The main devices for tracking and particle identification are large-volume tracking detectors (TPCs) producing raw event sizes in excess of 100 Mbytes per event. With increasing data rates, storage becomes the main limiting factor in such experiments and, therefore, it is essential to represent the data in a way that is as concise as possible. In this paper, we present several compression schemes, such as entropy encoding, modified vector quantization, and data modeling techniques applied on real data from the CERN SPS experiment NA49 and on simulated data from the future CERN LHC experiment ALICE.

  3. TPC data compression

    Science.gov (United States)

    Berger, Jens; Frankenfeld, Ulrich; Lindenstruth, Volker; Plamper, Patrick; Röhrich, Dieter; Schäfer, Erich; Schulz, Markus W.; Steinbeck, Timm M.; Stock, Reinhard; Sulimma, Kolja; Vestbø, Anders; Wiebalck, Arne

    2002-08-01

    In the collisions of ultra-relativistic heavy ions in fixed-target and collider experiments, multiplicities of several ten thousand charged particles are generated. The main devices for tracking and particle identification are large-volume tracking detectors (TPCs) producing raw event sizes in excess of 100 Mbytes per event. With increasing data rates, storage becomes the main limiting factor in such experiments and, therefore, it is essential to represent the data in a way that is as concise as possible. In this paper, we present several compression schemes, such as entropy encoding, modified vector quantization, and data modeling techniques applied on real data from the CERN SPS experiment NA49 and on simulated data from the future CERN LHC experiment ALICE.

  4. Waves and compressible flow

    CERN Document Server

    Ockendon, Hilary

    2016-01-01

    Now in its second edition, this book continues to give readers a broad mathematical basis for modelling and understanding the wide range of wave phenomena encountered in modern applications.  New and expanded material includes topics such as elastoplastic waves and waves in plasmas, as well as new exercises.  Comprehensive collections of models are used to illustrate the underpinning mathematical methodologies, which include the basic ideas of the relevant partial differential equations, characteristics, ray theory, asymptotic analysis, dispersion, shock waves, and weak solutions. Although the main focus is on compressible fluid flow, the authors show how intimately gasdynamic waves are related to wave phenomena in many other areas of physical science.   Special emphasis is placed on the development of physical intuition to supplement and reinforce analytical thinking. Each chapter includes a complete set of carefully prepared exercises, making this a suitable textbook for students in applied mathematics, ...

  5. Central cooling: compressive chillers

    Energy Technology Data Exchange (ETDEWEB)

    Christian, J.E.

    1978-03-01

    Representative cost and performance data are provided in a concise, useable form for three types of compressive liquid packaged chillers: reciprocating, centrifugal, and screw. The data are represented in graphical form as well as in empirical equations. Reciprocating chillers are available from 2.5 to 240 tons with full-load COPs ranging from 2.85 to 3.87. Centrifugal chillers are available from 80 to 2,000 tons with full load COPs ranging from 4.1 to 4.9. Field-assemblied centrifugal chillers have been installed with capacities up to 10,000 tons. Screw-type chillers are available from 100 to 750 tons with full load COPs ranging from 3.3 to 4.5.

  6. Compressive Fatigue in Wood

    DEFF Research Database (Denmark)

    Clorius, Christian Odin; Pedersen, Martin Bo Uhre; Hoffmeyer, Preben;

    1999-01-01

    An investigation of fatigue failure in wood subjected to load cycles in compression parallel to grain is presented. Small clear specimens of spruce are taken to failure in square wave formed fatigue loading at a stress excitation level corresponding to 80% of the short term strength. Four...... frequencies ranging from 0.01 Hz to 10 Hz are used. The number of cycles to failure is found to be a poor measure of the fatigue performance of wood. Creep, maximum strain, stiffness and work are monitored throughout the fatigue tests. Accumulated creep is suggested identified with damage and a correlation...... is observed between stiffness reduction and accumulated creep. A failure model based on the total work during the fatigue life is rejected, and a modified work model based on elastic, viscous and non-recovered viscoelastic work is experimentally supported, and an explanation at a microstructural level...

  7. Compression-based Similarity

    CERN Document Server

    Vitanyi, Paul M B

    2011-01-01

    First we consider pair-wise distances for literal objects consisting of finite binary files. These files are taken to contain all of their meaning, like genomes or books. The distances are based on compression of the objects concerned, normalized, and can be viewed as similarity distances. Second, we consider pair-wise distances between names of objects, like "red" or "christianity." In this case the distances are based on searches of the Internet. Such a search can be performed by any search engine that returns aggregate page counts. We can extract a code length from the numbers returned, use the same formula as before, and derive a similarity or relative semantics between names for objects. The theory is based on Kolmogorov complexity. We test both similarities extensively experimentally.

  8. Adaptively Compressed Exchange Operator

    CERN Document Server

    Lin, Lin

    2016-01-01

    The Fock exchange operator plays a central role in modern quantum chemistry. The large computational cost associated with the Fock exchange operator hinders Hartree-Fock calculations and Kohn-Sham density functional theory calculations with hybrid exchange-correlation functionals, even for systems consisting of hundreds of atoms. We develop the adaptively compressed exchange operator (ACE) formulation, which greatly reduces the computational cost associated with the Fock exchange operator without loss of accuracy. The ACE formulation does not depend on the size of the band gap, and thus can be applied to insulating, semiconducting as well as metallic systems. In an iterative framework for solving Hartree-Fock-like systems, the ACE formulation only requires moderate modification of the code, and can be potentially beneficial for all electronic structure software packages involving exchange calculations. Numerical results indicate that the ACE formulation can become advantageous even for small systems with tens...

  9. Adaptive compressive sensing camera

    Science.gov (United States)

    Hsu, Charles; Hsu, Ming K.; Cha, Jae; Iwamura, Tomo; Landa, Joseph; Nguyen, Charles; Szu, Harold

    2013-05-01

    We have embedded Adaptive Compressive Sensing (ACS) algorithm on Charge-Coupled-Device (CCD) camera based on the simplest concept that each pixel is a charge bucket, and the charges comes from Einstein photoelectric conversion effect. Applying the manufactory design principle, we only allow altering each working component at a minimum one step. We then simulated what would be such a camera can do for real world persistent surveillance taking into account of diurnal, all weather, and seasonal variations. The data storage has saved immensely, and the order of magnitude of saving is inversely proportional to target angular speed. We did design two new components of CCD camera. Due to the matured CMOS (Complementary metal-oxide-semiconductor) technology, the on-chip Sample and Hold (SAH) circuitry can be designed for a dual Photon Detector (PD) analog circuitry for changedetection that predicts skipping or going forward at a sufficient sampling frame rate. For an admitted frame, there is a purely random sparse matrix [Φ] which is implemented at each bucket pixel level the charge transport bias voltage toward its neighborhood buckets or not, and if not, it goes to the ground drainage. Since the snapshot image is not a video, we could not apply the usual MPEG video compression and Hoffman entropy codec as well as powerful WaveNet Wrapper on sensor level. We shall compare (i) Pre-Processing FFT and a threshold of significant Fourier mode components and inverse FFT to check PSNR; (ii) Post-Processing image recovery will be selectively done by CDT&D adaptive version of linear programming at L1 minimization and L2 similarity. For (ii) we need to determine in new frames selection by SAH circuitry (i) the degree of information (d.o.i) K(t) dictates the purely random linear sparse combination of measurement data a la [Φ]M,N M(t) = K(t) Log N(t).

  10. STOCK TREND PREDICTION USING NEWS SENTIMENT ANALYSIS

    Directory of Open Access Journals (Sweden)

    Kalyani Joshi

    2016-06-01

    Full Text Available Efficient Market Hypothesis is the popular theory about stock prediction. With its failure much research has been carried in the area of prediction of stocks. This project is about taking non quantifiable data such as financial news articles about a company and predicting its future stock trend with news sentiment classification. Assuming that news articles have impact on stock market, this is an attempt to study relationship between news and stock trend. To show this, we created three different classification models which depict polarity of news articles being positive or negative. Observations show that RF and SVM perform well in all types of testing. Naïve Bayes gives good result but not compared to the other two. Experiments are conducted to evaluate various aspects of the proposed model and encouraging results are obtained in all of the experiments. The accuracy of the prediction model is more than 80% and in comparison with news random labelling with 50% of accuracy; the model has increased the accuracy by 30%.

  11. Fractal patterns in Stock Intertrading Times

    Science.gov (United States)

    White, Ainslie; Lee, Youngki; Ivanov, Plamen Ch.

    2003-03-01

    We study intertrades times (ITT) of stock trades of a range of companies included in the New York Stock Exchange's Trades and Quotes (TAQ) database. The time between transactions is an indicator of the dynamics of the market, and in the field of econometrics, intertrade durations play a key role in the understanding of the market activity and microstructure. Previous work has mainly focused on the properties of price changes of individual company stocks as well as global financial indices (e.g. SP500, DJ etc.). We hypothesize that there is a relation between the dynamics of price change and the trading activity. To investigate this relation we first study the statistical features of ITT data. The TAQ database covers all transactions on the NSE, AMEX, NASDAQ and the US regional exchanges. We have performed a preliminary analysis of 100 company stocks from a range of industries of the US economy selecting predominantly those companies which have large market capitalisations (MC). We focus on companies with large MC, since the dynamics of the price change and trading activity of stocks of such companies has a considerable impact on the market behaviour.

  12. Influence network in the Chinese stock market

    Science.gov (United States)

    Gao, Ya-Chun; Zeng, Yong; Cai, Shi-Min

    2015-03-01

    In a stock market, the price fluctuations are interactive, that is, one listed company can influence others. In this paper, we seek to study the influence relationships among listed companies by constructing a directed network on the basis of the Chinese stock market. This influence network shows distinct topological properties. In particular, a few large companies that can lead the tendency of the stock market are recognized. Furthermore, by analyzing the subnetworks of listed companies distributed in several significant economic sectors, it is found that the influence relationships are totally different from one economic sector to another, of which three types of connectivity as well as hub-like listed companies are identified. In addition, the rankings of listed companies obtained from the centrality metrics of the influence network are compared with those according to the assets, which gives inspiration to uncover and understand the importance of listed companies on the stock market. These empirical results are meaningful in providing these topological properties of the Chinese stock market and economic sectors as well as revealing the interactive influence relationships among listed companies.

  13. Asymmetric Conditional Volatility in International Stock Markets

    CERN Document Server

    Ferreira, N B; Menezes, R; Ferreira, Nuno B.; Mendes, Diana A.; Menezes, Rui

    2006-01-01

    Recent studies show that a negative shock in stock prices will generate more volatility than a positive shock of similar magnitude. The aim of this paper is to appraise the hypothesis under which the conditional mean and the conditional variance of stock returns are asymmetric functions of past information. We compare the results for the Portuguese Stock Market Index PSI 20 with six other Stock Market Indices, namely the S&P 500, FTSE100, DAX 30, CAC 40, ASE 20, and IBEX 35. In order to assess asymmetric volatility we use autoregressive conditional heteroskedasticity specifications known as TARCH and EGARCH. We also test for asymmetry after controlling for the effect of macroeconomic factors on stock market returns using TAR and M-TAR specifications within a VAR framework. Our results show that the conditional variance is an asymmetric function of past innovations raising proportionately more during market declines, a phenomenon known as the leverage effect. However, when we control for the effect of chan...

  14. Using the Stock Market to Teach Physics

    Science.gov (United States)

    Faux, David A.; Hearn, Stephen

    2004-11-01

    Students are interested in money. Personal finance is an important issue for most students, especially as they move into university education and take a greater control of their own finances. Many are also interested in stock markets and their ability to allow someone to make, and lose, large sums of money, with their interest fueled by the boom in technology-based stocks of 2000/2001 followed by their subsequent dramatic collapse and the publicizing of so-called "rogue-traders." There is also a much greater ownership of stocks by families following public offerings, stock-based savings products, and the ability to trade stocks online. Consequently, there has been a steady growth of finance and finance-related courses available within degree programs in response to the student demand, with many students motivated by the huge salaries commanded by those with a successful career in the financial sector. We report here details of a joint project between Charterhouse School and the University of Surrey designed to exploit the excitement of finance to teach elements of the high school (age 16-18) curriculum through modeling and simulation.

  15. Spillovers among regional and international stock markets

    Science.gov (United States)

    Huen, Tan Bee; Arsad, Zainudin; Chun, Ooi Po

    2014-07-01

    Realizing the greater risk by the increase in the level of financial market integration, this study investigates the dynamic of international and regional stock markets co-movement among Asian countries with the world leading market, the US. The data utilized in this study comprises of weekly closing prices for four stock indices, that consists of two developing markets (Malaysia and China) and two developed markets (Japan and the US), and encompasses the period from January 1996 to December 2012. Multivariate Generalized Autoregressive Conditional Heteroscedasticity (MGARCH) model with the BEKK parameterization is employed to investigate the mean and volatility spillover effects among the selected stock indices. The results show significant mean spillover not only from the larger developed markets to smaller developing markets but also from the smaller developing markets to larger developed markets. Volatility spillover between the developed markets is found to be smaller than that between the developing markets. Conditional correlations among the stock markets are found to increase over the sample period. The findings of significant mean and volatility spillovers are considered as bad news for international investors as it reduces the benefit from portfolio diversification but act as useful information for investors to be more aware in diversifying their investment or stock selection.

  16. Application specific compression : final report.

    Energy Technology Data Exchange (ETDEWEB)

    Melgaard, David Kennett; Byrne, Raymond Harry; Myers, Daniel S.; Harrison, Carol D.; Lee, David S.; Lewis, Phillip J.; Carlson, Jeffrey J.

    2008-12-01

    With the continuing development of more capable data gathering sensors, comes an increased demand on the bandwidth for transmitting larger quantities of data. To help counteract that trend, a study was undertaken to determine appropriate lossy data compression strategies for minimizing their impact on target detection and characterization. The survey of current compression techniques led us to the conclusion that wavelet compression was well suited for this purpose. Wavelet analysis essentially applies a low-pass and high-pass filter to the data, converting the data into the related coefficients that maintain spatial information as well as frequency information. Wavelet compression is achieved by zeroing the coefficients that pertain to the noise in the signal, i.e. the high frequency, low amplitude portion. This approach is well suited for our goal because it reduces the noise in the signal with only minimal impact on the larger, lower frequency target signatures. The resulting coefficients can then be encoded using lossless techniques with higher compression levels because of the lower entropy and significant number of zeros. No significant signal degradation or difficulties in target characterization or detection were observed or measured when wavelet compression was applied to simulated and real data, even when over 80% of the coefficients were zeroed. While the exact level of compression will be data set dependent, for the data sets we studied, compression factors over 10 were found to be satisfactory where conventional lossless techniques achieved levels of less than 3.

  17. Streaming Compression of Hexahedral Meshes

    Energy Technology Data Exchange (ETDEWEB)

    Isenburg, M; Courbet, C

    2010-02-03

    We describe a method for streaming compression of hexahedral meshes. Given an interleaved stream of vertices and hexahedral our coder incrementally compresses the mesh in the presented order. Our coder is extremely memory efficient when the input stream documents when vertices are referenced for the last time (i.e. when it contains topological finalization tags). Our coder then continuously releases and reuses data structures that no longer contribute to compressing the remainder of the stream. This means in practice that our coder has only a small fraction of the whole mesh in memory at any time. We can therefore compress very large meshes - even meshes that do not file in memory. Compared to traditional, non-streaming approaches that load the entire mesh and globally reorder it during compression, our algorithm trades a less compact compressed representation for significant gains in speed, memory, and I/O efficiency. For example, on the 456k hexahedra 'blade' mesh, our coder is twice as fast and uses 88 times less memory (only 3.1 MB) with the compressed file increasing about 3% in size. We also present the first scheme for predictive compression of properties associated with hexahedral cells.

  18. Data Compression with Linear Algebra

    OpenAIRE

    Etler, David

    2015-01-01

    A presentation on the applications of linear algebra to image compression. Covers entropy, the discrete cosine transform, thresholding, quantization, and examples of images compressed with DCT. Given in Spring 2015 at Ocean County College as part of the honors program.

  19. Compressed sensing for body MRI.

    Science.gov (United States)

    Feng, Li; Benkert, Thomas; Block, Kai Tobias; Sodickson, Daniel K; Otazo, Ricardo; Chandarana, Hersh

    2017-04-01

    The introduction of compressed sensing for increasing imaging speed in magnetic resonance imaging (MRI) has raised significant interest among researchers and clinicians, and has initiated a large body of research across multiple clinical applications over the last decade. Compressed sensing aims to reconstruct unaliased images from fewer measurements than are traditionally required in MRI by exploiting image compressibility or sparsity. Moreover, appropriate combinations of compressed sensing with previously introduced fast imaging approaches, such as parallel imaging, have demonstrated further improved performance. The advent of compressed sensing marks the prelude to a new era of rapid MRI, where the focus of data acquisition has changed from sampling based on the nominal number of voxels and/or frames to sampling based on the desired information content. This article presents a brief overview of the application of compressed sensing techniques in body MRI, where imaging speed is crucial due to the presence of respiratory motion along with stringent constraints on spatial and temporal resolution. The first section provides an overview of the basic compressed sensing methodology, including the notion of sparsity, incoherence, and nonlinear reconstruction. The second section reviews state-of-the-art compressed sensing techniques that have been demonstrated for various clinical body MRI applications. In the final section, the article discusses current challenges and future opportunities. 5 J. Magn. Reson. Imaging 2017;45:966-987. © 2016 International Society for Magnetic Resonance in Medicine.

  20. Optimization Stock Portfolio With Mean-Variance and Linear Programming: Case In Indonesia Stock Market

    Directory of Open Access Journals (Sweden)

    Yen Sun

    2010-05-01

    Full Text Available It is observed that the number of Indonesia’s domestic investor who involved in the stock exchange is very less compare to its total number of population (only about 0.1%. As a result, Indonesia Stock Exchange (IDX is highly affected by foreign investor that can threat the economy. Domestic investor tends to invest in risk-free asset such as deposit in the bank since they are not familiar yet with the stock market and anxious about the risk (risk-averse type of investor. Therefore, it is important to educate domestic investor to involve in the stock exchange. Investing in portfolio of stock is one of the best choices for risk-averse investor (such as Indonesia domestic investor since it offers lower risk for a given level of return. This paper studies the optimization of Indonesian stock portfolio. The data is the historical return of 10 stocks of LQ 45 for 5 time series (January 2004 – December 2008. It will be focus on selecting stocks into a portfolio, setting 10 of stock portfolios using mean variance method combining with the linear programming (solver. Furthermore, based on Efficient Frontier concept and Sharpe measurement, there will be one stock portfolio picked as an optimum Portfolio (Namely Portfolio G. Then, Performance of portfolio G will be evaluated by using Sharpe, Treynor and Jensen Measurement to show whether the return of Portfolio G exceeds the market return. This paper also illustrates how the stock composition of the Optimum Portfolio (G succeeds to predict the portfolio return in the future (5th January – 3rd April 2009. The result of the study observed that optimization portfolio using Mean-Variance (consistent with Markowitz theory combine with linear programming can be applied into Indonesia stock’s portfolio. All the measurements (Sharpe, Jensen, and Treynor show that the portfolio G is a superior portfolio. It is also been found that the composition (weights stocks of optimum portfolio (G can be used to

  1. Deterministic Elements of Japanese Stock Prices under Low Interest Rates

    Directory of Open Access Journals (Sweden)

    Yutaka Kurihara

    2016-05-01

    Full Text Available This paper uses daily data to perform an empirical analysis of the relationship between recent Japanese stock prices and macroeconomic variables under the zero or low interest policy in Japan. The empirical results indicate that short-term interest rates have not impacted Japanese stock prices. On the other hand, long-term interest rates, exchange rates, and foreign stock prices have been significant determinants of Japanese stock prices. This seems counter to traditional economic theory, but interest rates were quite low and other variables, such as exchange rates and other stock prices, play important roles in determining Japanese stock prices.

  2. Shanghai Stock Prices as Determined by the Present Value Model

    OpenAIRE

    Gregory C. Chow

    2003-01-01

    Derived from the present-value model of stock prices, our model implies that the log stock price is a linear function of expected log dividends and the expected rate of growth of dividends where expectations are formed adaptively. The model explains very well the prices of 47 stocks traded on the Shanghai Stock Exchange observed at the beginning of 1996, 1997, and 1998. The estimated parameters are remarkably similar to those reported for stocks traded on the Hong Kong Stock Exchange and the ...

  3. Specifications and Quality of Lube Oil Base Stocks in China

    Institute of Scientific and Technical Information of China (English)

    Wang Ping

    2004-01-01

    The Chinese standard Q/SHR001-95 for base stocks is compared with the API specifications. The viscosity-temperature characteristics of base stock required by lube oil in use and market demand on oil quality are analyzed. The quality indicators of base stocks in China and other countries are compared. A new classification of base stocks in response to the requirements of modem lube oil is proposed and the research on new technology to produce premium base stocks meeting API specification is recommended on the basis of current base stock processing technology.

  4. Compression Maps and Stable Relations

    CERN Document Server

    Price, Kenneth L

    2011-01-01

    Balanced relations were defined by G. Abrams to extend the convolution product used in the construction of incidence rings. We define stable relations,which form a class between balanced relations and preorders. We also define a compression map to be a surjective function between two sets which preserves order, preserves off-diagonal relations, and has the additional property every transitive triple is the image of a transitive triple. We show a compression map preserves the balanced and stable properties but the compression of a preorder may be stable and not transitive. We also cover an example of a stable relation which is not the compression of a preorder. In our main theorem we provide necessary and sufficient conditions for a finite stable relation to be the compression of a preorder.

  5. USING SENTIMENT ANALYSIS FOR STOCK EXCHANGE PREDICTION

    Directory of Open Access Journals (Sweden)

    Milson L. Lima

    2016-01-01

    Full Text Available The economic growth is a consensus in any country. To grow economically, it is necessary to channel the revenues for investment. One way of raising is the capital market and the stock exchanges. In this context, predicting the behavior of shares in the stock exchange is not a simple task, as itinvolves variables not always known and can undergo various influences, from the collective emotion to high-profile news. Such volatility can represent considerable financial losses for investors. In order to anticipate such changes in the market, it has been proposed various mechanisms trying to predict the behavior of an asset in the stock market, based on previously existing information. Such mechanisms include statistical data only, without considering the collective feeling. This paper is going to use natural language processing algorithms (LPN to determine the collective mood on assets and later with the help of the SVM algorithm to extract patterns in an attempt to predict the active behaviour.

  6. Clustering stocks using partial correlation coefficients

    Science.gov (United States)

    Jung, Sean S.; Chang, Woojin

    2016-11-01

    A partial correlation analysis is performed on the Korean stock market (KOSPI). The difference between Pearson correlation and the partial correlation is analyzed and it is found that when conditioned on the market return, Pearson correlation coefficients are generally greater than those of the partial correlation, which implies that the market return tends to drive up the correlation between stock returns. A clustering analysis is then performed to study the market structure given by the partial correlation analysis and the members of the clusters are compared with the Global Industry Classification Standard (GICS). The initial hypothesis is that the firms in the same GICS sector are clustered together since they are in a similar business and environment. However, the result is inconsistent with the hypothesis and most clusters are a mix of multiple sectors suggesting that the traditional approach of using sectors to determine the proximity between stocks may not be sufficient enough to diversify a portfolio.

  7. Dependency Relations among International Stock Market Indices

    Directory of Open Access Journals (Sweden)

    Leonidas Sandoval Junior

    2015-05-01

    Full Text Available We develop networks of international stock market indices using information and correlation based measures. We use 83 stock market indices of a diversity of countries, as well as their single day lagged values, to probe the correlation and the flow of information from one stock index to another taking into account different operating hours. Additionally, we apply the formalism of partial correlations to build the dependency network of the data, and calculate the partial Transfer Entropy to quantify the indirect influence that indices have on one another. We find that Transfer Entropy is an effective way to quantify the flow of information between indices, and that a high degree of information flow between indices lagged by one day coincides to same day correlation between them.

  8. THE STEEL EUROPEAN STOCK MARKET EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Viorica CHIRILA

    2015-12-01

    Full Text Available Testing the hypothesis of informational efficiency is a permanent preoccupation of researchers because the theories and the models of modern finance are based on it. This paper presents the results obtained after testing the efficiency hypothesis, in the weak form, for the European stock market of the companies that belong to the economic steel sub-sector. Following the use of both linear and non-linear tests of autocorrelation of returns we can conclude that the European stock market in the economic steel sub-sector is inefficient from an informational point of view and the investors in these stocks may obtain better results than those of the European market in general.

  9. Stock vs. Bond Yields, and Demographic Fluctuations

    DEFF Research Database (Denmark)

    Gozluklu, Arie; Morin, Annaïg

    that the slow-evolving time-series covariation due to changing population age structure accounts for the equilibrium relation between stock and bond markets. As a result, by exploiting the demographic information into distant future, the forecasting performance of evaluation models improves. Finally, using...... a cross-country panel, we document the cross-sectional variation of the demographic effect and explain the cross-country differences in comovement between stock and bond markets.......This paper analyzes the strong comovement between real stock and nominal bond yields at generational (low) frequencies. Life-cycle patterns in savings behavior in an overlapping generations model with cash-in-advance constraints explain this persistent comovement between financial yields. We argue...

  10. Statistical aspects of fish stock assessment

    DEFF Research Database (Denmark)

    Berg, Casper Willestofte

    Fish stock assessments are conducted for two main purposes: 1) To estimate past and present fish abundances and their commercial exploitation rates. 2) To predict the consequences of different management strategies in order to ensure a sustainable fishery in the future. This thesis concerns...... statistical aspects of fish stocks assessment, which includes topics such as time series analysis, generalized additive models (GAMs), and non-linear state-space/mixed models capable of handling missing data and a high number of latent states and parameters. The aim is to improve the existing methods...... for stock assessment by application of state-of-the-art statistical methodology. The main contributions are presented in the form of six research papers. The major part of the thesis deals with age-structured assessment models, which is the most common approach. Conversion from length to age distributions...

  11. Quantifying Stock Return Distributions in Financial Markets.

    Science.gov (United States)

    Botta, Federico; Moat, Helen Susannah; Stanley, H Eugene; Preis, Tobias

    2015-01-01

    Being able to quantify the probability of large price changes in stock markets is of crucial importance in understanding financial crises that affect the lives of people worldwide. Large changes in stock market prices can arise abruptly, within a matter of minutes, or develop across much longer time scales. Here, we analyze a dataset comprising the stocks forming the Dow Jones Industrial Average at a second by second resolution in the period from January 2008 to July 2010 in order to quantify the distribution of changes in market prices at a range of time scales. We find that the tails of the distributions of logarithmic price changes, or returns, exhibit power law decays for time scales ranging from 300 seconds to 3600 seconds. For larger time scales, we find that the distributions tails exhibit exponential decay. Our findings may inform the development of models of market behavior across varying time scales.

  12. Dependence phenomenon analysis of the stock market

    Science.gov (United States)

    Cheng, Wuyang; Wang, Jun

    2013-04-01

    A random financial stock price model is developed by the interacting contact process, which is one of the statistical-physics systems. The contact process is a continuous-time Markov process, one interpretation of this process is as a model for the spread of an infection, where the epidemic spreading mimics the interplay of local infections and the recovery of individuals. We investigate and analyze the long-term memory, the nonlinear correlations and the multifractal phenomenon of normalized returns of the price model by statistical analysis methods, which include autocorrelation analysis, the Gaussian copula method and the multifractal analysis method. Moreover, we consider the daily returns of the Shanghai Stock Exchange Composite Index and the Shenzhen Stock Exchange Composite Index, and the comparisons of statistical behaviors of returns between the actual data and the simulation data are presented.

  13. Evolvement Complexity in an Artificial Stock Market

    Institute of Scientific and Technical Information of China (English)

    YANG Chun-Xia; ZHOU Tao; ZHOU Pei-Ling; LIU Jun; TANG Zi-Nan

    2005-01-01

    @@ An artificial stock market is established based on the multi-agent model.Each agent has a limited memory of the history of stock price, and will choose an action according to its memory and trading strategy.The trading strategy of each agent evolves ceaselessly as a result of a self-teaching mechanism.The simulation results exhibit that large events are frequent in the fluctuation of the stock price generated by the present model when compared with a normal process, and the price returns distribution is a L関y distribution in the central part followed by an approximately exponential truncation.In addition, by defining a variable to gauge the evolvement complexity of this system, we have found a phase cross-over from simple-phase to complex-phase along with the increase of the number of individuals, which may be a ubiquitous phenomenon in multifarious real-life systems.

  14. The Geometric Phase of Stock Trading.

    Science.gov (United States)

    Altafini, Claudio

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote.

  15. Stocks of organic carbon in Estonian soils

    Directory of Open Access Journals (Sweden)

    Kõlli, Raimo

    2009-06-01

    Full Text Available The soil organic carbon (SOC stocks (Mg ha–1 ofautomorphic mineral (9 soil groups, hydromorphic mineral (7, and lowland organic soils (4 are given for the soil cover or solum layer as a whole and also for its epipedon (topsoil layer. The SOC stocks for forest, arable lands, and grasslands and for the entire Estonian soil cover were calculated on the basis of the mean SOC stock and distribution area of the respective soil type. In the Estonian soil cover (42 400 km2, a total of 593.8 ± 36.9 Tg of SOC is retained, with 64.9% (385.3 ± 27.5 Tg in the epipedon layer (O, H, and A horizons and 35.1% in the subsoil (B and E horizons. The pedo-ecological regularities of SOC retention in soils are analysed against the background of the Estonian soil ordination net.

  16. Optimal Investment Horizons for Stocks and Markets

    CERN Document Server

    Johansen, A

    2006-01-01

    The inverse statistics is the distribution of waiting times needed to achieve a predefined level of return obtained from (detrended) historic asset prices \\cite{optihori,gainloss}. Such a distribution typically goes through a maximum at a time coined the {\\em optimal investment horizon}, $\\tau^*_\\rho$, which defines the most likely waiting time for obtaining a given return $\\rho$. By considering equal positive and negative levels of return, we reported in \\cite{gainloss} on a quantitative gain/loss asymmetry most pronounced for short horizons. In the present paper, the inverse statistics for 2/3 of the individual stocks presently in the DJIA is investigated. We show that this gain/loss asymmetry established for the DJIA surprisingly is {\\em not} present in the time series of the individual stocks nor their average. This observation points towards some kind of collective movement of the stocks of the index (synchronization).

  17. Stock vs. Bond Yields, and Demographic Fluctuations

    DEFF Research Database (Denmark)

    Gozluklu, Arie; Morin, Annaïg

    that the slow-evolving time-series covariation due to changing population age structure accounts for the equilibrium relation between stock and bond markets. As a result, by exploiting the demographic information into distant future, the forecasting performance of evaluation models improves. Finally, using...... a cross-country panel, we document the cross-sectional variation of the demographic effect and explain the cross-country differences in comovement between stock and bond markets.......This paper analyzes the strong comovement between real stock and nominal bond yields at generational (low) frequencies. Life-cycle patterns in savings behavior in an overlapping generations model with cash-in-advance constraints explain this persistent comovement between financial yields. We argue...

  18. Stock return comovement and Korean business groups

    Directory of Open Access Journals (Sweden)

    Chan Ho Cho

    2015-12-01

    Full Text Available This paper explores whether business group affiliations affect the covariance structure of stock returns in Korea. We find that the stock returns of firms belonging to the same business group show positive and significant comovement. The strong comovement between group returns and firm returns is explained by correlated fundamentals. We find strong comovement among business group affiliate earnings. Moreover, variance decomposition of returns shows that cash flow news plays a relatively more important role in explaining group comovement than discount rate news, suggesting a link between stock return comovement and the “tunneling” and “propping” behaviors of business groups. Finally, return comovement increases when a firm joins a business group.

  19. The behavior of stock price on ex-dividend day : A study on New York Stock Exchange and London Stock Exchange

    OpenAIRE

    Chowdhury, Biplob; Islam, Md Amirul

    2011-01-01

    The main aim of this thesis is to analyze the behavior of stock price on ex-dividend day in London Stock Exchange and New York Stock Exchange and draw a conclusion about the market efficiency based. We collect 200 sample companies dividend, ex-dividend day and cum dividend day stock price to compare with NYSE composite index and FTSE 100 for London Stock Exchange.   To answer the research question and specific purpose of our thesis we developed five null hypothesis based on raw price ratio (R...

  20. Empirical study of recent Chinese stock market

    Science.gov (United States)

    Jiang, J.; Li, W.; Cai, X.; Wang, Qiuping A.

    2009-05-01

    We investigate the statistical properties of the empirical data taken from the Chinese stock market during the time period from January, 2006 to July, 2007. By using the methods of detrended fluctuation analysis (DFA) and calculating correlation coefficients, we acquire the evidence of strong correlations among different stock types, stock index, stock volume turnover, A share (B share) seat number, and GDP per capita. In addition, we study the behavior of “volatility”, which is now defined as the difference between the new account numbers for two consecutive days. It is shown that the empirical power-law of the number of aftershock events exceeding the selected threshold is analogous to the Omori law originally observed in geophysics. Furthermore, we find that the cumulative distributions of stock return, trade volume and trade number are all exponential-like, which does not belong to the universality class of such distributions found by Xavier Gabaix et al. [Xavier Gabaix, Parameswaran Gopikrishnan, Vasiliki Plerou, H. Eugene Stanley, Nature, 423 (2003)] for major western markets. Through the comparison, we draw a conclusion that regardless of developed stock markets or emerging ones, “cubic law of returns” is valid only in the long-term absolute return, and in the short-term one, the distributions are exponential-like. Specifically, the distributions of both trade volume and trade number display distinct decaying behaviors in two separate regimes. Lastly, the scaling behavior of the relation is analyzed between dispersion and the mean monthly trade value for each administrative area in China.

  1. Stock Performance of Socially Responsible Companies

    Directory of Open Access Journals (Sweden)

    Huang Tzu-Man

    2016-12-01

    Full Text Available Every year Corporate Responsibility Magazine selects and ranks 100 companies on the basis of their corporate social responsibility. This study investigates the stock performance of socially responsible companies in the U.S. The monthly stock returns for these companies are analyzed and compared with the market performance, with the S&P 500 index designated as a proxy for the market. The empirical evidence suggests that these 100 companies outperform the market in their monthly stock returns. We also narrow down the number of companies selected to the top 75, 50, 25, and 10 firms. As we narrow down the companies selected, the difference between their returns and the market returns also narrows. In other words, a portfolio that includes all top 100 companies provides the best stock performance. We extend the analysis to long-term annual stock performance. We find that these socially responsible companies′ annual returns are higher than the market returns for up to seven years after they are listed. We also conduct the same analysis on the top 75, 50, 25, and 10 firms, respectively. Similarly, the larger the number of these top 100 companies, the greater the tendency to generate higher annual returns. We suspect that because the difference between the socially responsible companies′ average returns and the market returns is not dramatic, with a bigger population and thus a larger sample size, the difference becomes more significant. However, in practice, transaction costs must be considered. This study is limited in that it does not consider transaction costs. Nevertheless, we hope to shed some light on the issue of socially responsible companies′ stock performance to encourage companies to start thinking about the importance of corporate social responsibility.

  2. Determinants of Stock Price Movements: Evidence from Chittagong Stock Exchange, Bangladesh

    Directory of Open Access Journals (Sweden)

    Mohammed Syedul Islam

    2015-01-01

    Full Text Available Stock market plays a vital role in the economic development of an economy. It bridges up between savers and real manufacturers by raising funds from investors to companies. This process was broken down due to the 2010-2011 stock market crash in Bangladesh. Though the determinants of stock price have been settled empirically, the current paper aims to reexamine the relationship between stock price, dividend and retained earnings of 29 listed banks of Chittagong Stock Exchange, in the post-crash period. Cross-sectional data were collected from secondary sources. Using linear regression method, the study found that both, dividend and retained earnings of sample banks have strong influence over the stock price, though there was moderate explanatory power of those variables. After reviewing the causes of crisis 2010-2011, this study suggests the following: to control price manipulation, to publish proper financial statement, regulate the dividend policy, to ensure sufficient knowledge among investors, recruit technical expert and ensure proper settlement for transactions, prevent crises of stock market against speculation etc.

  3. Market Confidence Predicts Stock Price: Beyond Supply and Demand

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price. PMID:27391816

  4. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  5. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    Directory of Open Access Journals (Sweden)

    Xiao-Qian Sun

    Full Text Available Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  6. Are Economists More Likely to Hold Stocks?

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Eyðfrið Juanna Schrøter; Rangvid, Jesper

    education, even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables.We model the stock market participation decision by the probit model......A unique data set enables us to test the hypothesis that due to informational advantages economists are more likely to hold stocks than otherwise identical investors. Weconfirm that economists have a significantly higher probability of participating in the stockmarket than investors with any other...

  7. Mean reversion in the US stock market

    Energy Technology Data Exchange (ETDEWEB)

    Serletis, Apostolos [Department of Economics, University of Calgary, Calgary, Alberta, T2N 1N4 (Canada)], E-mail: Serletis@ucalgary.ca; Rosenberg, Aryeh Adam [Department of Economics, University of Calgary, Calgary, Alberta, T2N 1N4 (Canada)

    2009-05-30

    This paper revisits the evidence for the weaker form of the efficient market hypothesis, building on recent work by Serletis and Shintani [Serletis A, Shintani M. No evidence of chaos but some evidence of dependence in the US stock market. Chaos, Solitons and Fractals 2003;17:449-54], Elder and Serletis [Elder J, Serletis A. On fractional integrating dynamics in the US stock market. Chaos, Solitons and Fractals 2007;34;777-81], Koustas et al. [Koustas Z, Lamarche J.-F, Serletis A. Threshold random walks in the US stock market. Chaos, Solitons and Fractals, forthcoming], Hinich and Serletis [Hinich M, Serletis A. Randomly modulated periodicity in the US stock market. Chaos, Solitons and Fractals, forthcoming], and Serletis et al. [Serletis A, Uritskaya OY, Uritsky VM. Detrended Fluctuation analysis of the US stock market. Int J Bifurc Chaos, forthcoming]. In doing so, we use daily data, over the period from 5 February 1971 to 1 December 2006 (a total of 9045 observations) on four US stock market indexes - the Dow Jones Industrial Average, the Standard and Poor's 500 Index, the NASDAQ Composite Index, and the NYSE Composite Index - and a new statistical physics approach - namely the 'detrending moving average (DMA)' technique, recently introduced by Alessio et al. [Alessio E, Carbone A, Castelli G, Frappietro V. Second-order moving average and scaling of stochastic time series. Euro Phys J B 2002;27;197-200.] and further developed by Carbone et al. [Carbone A, Castelli G, Stanley HE. Time dependent hurst exponent in financial time series. Physica A 2004;344;267-71, Carbone A, Castelli G, Stanley HE. Analysis of clusters formed by the moving average of a long-range correlated time series. Phys Rev E 2004;69;026105.]. The robustness of the results to the use of alternative testing methodologies is also investigated, by using Lo's [Lo AW. Long-term memory in stock market prices. Econometrica 1991;59:1279-313.] modified rescaled range analysis. We

  8. ACCOUNTING TREATMENTS USED IN STOCKS VALUATION

    Directory of Open Access Journals (Sweden)

    Suciu Gheorghe

    2012-12-01

    Full Text Available Accounting treatments represent the methods used by a company to apply its own accounting policies. Accounting treatments can be divided into two categories: basic accounting treatments and alternative treatments. Stocks represent the quantities of material resources, half-finished goods, finished goods which stockpile in supply repositories of the economic entities, with a certain structure and volume, for a certain period of time, in order to ensure continuity and regularity of the manufacturing process and of consumption. Stocks will be acknowledges only when the company is likely to make an economic benefit and when the costs and values can be estimated in a credible way.

  9. Taxes versus quotas for a stock pollutant

    Energy Technology Data Exchange (ETDEWEB)

    Hoel, Michael [University of Oslo, P.O. Box 1095, Blindern, N-0317 OSLO (Norway); Karp, Larry [Department of Agriculture and Resource Economics, University of Berkeley, 207 Giannini Hall, 94720 Berkeley, CA (United States)

    2002-11-01

    We compare the effects of taxes and quotas for an environmental problem where the regulator and polluter have asymmetric information about abatement costs, and environmental damage depends on pollution stock. An increase in the slope of the marginal abatement cost curve, or a decrease in the slope of the marginal damage curve, favors taxes. An increase in the discount rate or the stock decay rate favors tax usage. Taxes dominate quotas if the length of a period during which decisions are constant is sufficiently small. An empirical illustration suggests that taxes dominate quotas for the control of greenhouse gasses.

  10. Mandatory IFRS Reporting and Stock Price Informativeness

    OpenAIRE

    Beuselinck, C.A.C.; Joos, P.P.M.; Khurana, I.K.; Van der Meulen, S.

    2010-01-01

    In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and contributes to stock price informativeness as measured by stock return synchronicity. Using a constant sample of 1,904 mandatory IFRS adopters in 14 EU countries for the period 2003-2007, we find a V-shaped pattern in synchronicity around IFRS adoption, which is consistent with IFRS disclosures revealing new firm-specific information in the adoption period (i.e., a reduction of sy...

  11. Causalities of the Taiwan stock market

    Science.gov (United States)

    Ting, Julian Juhi-Lian

    2003-06-01

    Volatility, fitting with first-order Landau expansion, stationarity, and causality of the Taiwan stock market (TAIEX) are investigated based on daily records. Instead of consensuses that consider stock market index change as a random time series we propose the market change as a dual time series consists of the index and the corresponding volume. Therefore, causalities between these two time series are investigated. Our results suggest the volume time series is of second-order importance than the index time series. The index time series receives slightly stronger influence from the previous 67th trading day, while the volume time series is slightly stronger influenced by the previous 62nd trading day.

  12. Common stock solutions, buffers, and media.

    Science.gov (United States)

    2001-05-01

    This collection of recipes describes the preparation of buffers and reagents used in Current Protocols in Pharmacology for cell culture, manipulation of neural tissue, molecular biological methods, and neurophysiological/neurochemical measurements. RECIPES: Acid, concentrated stock solutions Ammonium hydroxide, concentrated stock solution EDTA (ethylenediaminetetraacetic acid), 0.5 M (pH 8.0) Ethidium bromide staining solution Fetal bovine serum (FBS) Gel loading buffer, 6× LB medium (Luria broth) and LB plates Potassium phosphate buffer, 0.1 M Sodium phosphate buffer, 0.1 M TE (Tris/EDTA) buffer Tris⋅Cl, 1 M.

  13. The study of issuance of stocks in venture companies listed in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ali Amiri

    2016-09-01

    Full Text Available In order to implement the profitable projects, achieve the maximum efficiency, and increase their shareholders, companies may use different types of financial resources in different ways. The ability of companies to identify the internal and external resources for providing capital and financial programs is considered as one of the main factors that affects on the growth and development of the companies. Financing resources and their usage volume are factors that affect on the companies’ operating performance. In this regard, companies and economic institutions can be financially provided from both inside and outside. Companies can issue and sell new common stocks to investors to provide their required financial resources. This study was conducted to investigate the issuance of stocks as one of resources of financing in the companies. Statistical population of this study was active listed companies in Tehran Stock Exchange. The sample of study was selected among listed companies raising capital through applying stage random sampling and simple random sampling. Sampling was conducted during the period 2008-20013 and finally the sample size including 40 companies were chosen using a Cochran formula. To analyze the obtained information, t-test and correlation coefficient were used. Although the results of the study revealed that there was no significant difference between the internal sources of financing and the issuance of stocks among the studied companies, there is a significant relationship between companies’ issuance of stocks and their size. Companies increase the use of retained earnings and stocks for financing through expanding the size of companies. Also, due to the existence of relationship between financing and the fixed assets of the companies through issuing the stocks of companies, no statistically significant relationship were observed between financing and companies’ profitability. Finally, there was no significant

  14. On the exact calculation of the mean stock level in the base stock periodic review policy

    Directory of Open Access Journals (Sweden)

    Eugenia Babiloni

    2011-07-01

    Full Text Available Purpose: One of the most usual indicators to measure the performance of any inventory policy is the mean stock level. In the generalized base stock, periodic review policy, the expected mean stock during the replenishment cycle is usually estimated by practitioners and researchers with the traditional Hadley-Whitin approximation. However it is not accurate enough and exact methods suggested on the related literature focus on specific demand distributions. This paper proposes a generalized method to compute the exact value of the expected mean stock to be used when demand is modelled by any uncorrelated, discrete and stationary demand pattern.Design/methodology/approach: The suggested method is based on computing the probability of every stock level at every point of the replenishment cycle for which it is required to know the probability of any stock level at the beginning of the cycle and the probability transition matrix between two consecutive periods of time. Furthermore, the traditional Hadley-Whitin approximation is compared with the proposed exact method over different discrete demand distributionsFindings: This paper points out the lack of accuracy that the Hadley-Whitin approximation shows over a wide range of service levels and discrete demand distributions. Research limitations/implications: The suggested method requires the availability of appropriate tools as well as a sound mathematical background. For this reason, approximations to it are the logical further research of this work. Practical implications: The use of the Hadley-Whitin approximation instead of an exact method can lead to underestimate systematically the expected mean stock level. This fact may increase total costs of the inventory system.Originality/value: The original derivation of an exact method to compute the expected mean stock level for the base stock, periodic review policy when demand is modelled by any discrete function and backlog is not allowed.

  15. Compressive Sensing for Quantum Imaging

    Science.gov (United States)

    Howland, Gregory A.

    This thesis describes the application of compressive sensing to several challenging problems in quantum imaging with practical and fundamental implications. Compressive sensing is a measurement technique that compresses a signal during measurement such that it can be dramatically undersampled. Compressive sensing has been shown to be an extremely efficient measurement technique for imaging, particularly when detector arrays are not available. The thesis first reviews compressive sensing through the lens of quantum imaging and quantum measurement. Four important applications and their corresponding experiments are then described in detail. The first application is a compressive sensing, photon-counting lidar system. A novel depth mapping technique that uses standard, linear compressive sensing is described. Depth maps up to 256 x 256 pixel transverse resolution are recovered with depth resolution less than 2.54 cm. The first three-dimensional, photon counting video is recorded at 32 x 32 pixel resolution and 14 frames-per-second. The second application is the use of compressive sensing for complementary imaging---simultaneously imaging the transverse-position and transverse-momentum distributions of optical photons. This is accomplished by taking random, partial projections of position followed by imaging the momentum distribution on a cooled CCD camera. The projections are shown to not significantly perturb the photons' momenta while allowing high resolution position images to be reconstructed using compressive sensing. A variety of objects and their diffraction patterns are imaged including the double slit, triple slit, alphanumeric characters, and the University of Rochester logo. The third application is the use of compressive sensing to characterize spatial entanglement of photon pairs produced by spontaneous parametric downconversion. The technique gives a theoretical speedup N2/log N for N-dimensional entanglement over the standard raster scanning technique

  16. THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE

    OpenAIRE

    Durukan, M. Banu; Mandacı, Pınar Evrim

    2014-01-01

    The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening eff...

  17. The Effects of G-7 Countries’ Stock Markets on the Istanbul Stock Exchange

    OpenAIRE

    Nildag Basak Ceylan

    2006-01-01

    In this paper, the effects of G-7 countries’ stock market indices, DAX (Germany), CAC 40 (France), FTSE (United Kingdom), S&P TSX Composite (Canada), NIKKEI 225 (Japan), S&P 500 (USA), DOW JONES (USA), NASDAQ (USA), and MIBTEL (Italy), on the stock market of Turkey, Istanbul Stock Exchange (ISE-100), have been examined by using a block recursive VAR model. The findings of the study suggest that all the indices except for NIKKEI 225, have positive and significant effects on the ISE-100. As a r...

  18. Advances in compressible turbulent mixing

    Energy Technology Data Exchange (ETDEWEB)

    Dannevik, W.P.; Buckingham, A.C.; Leith, C.E. [eds.

    1992-01-01

    This volume includes some recent additions to original material prepared for the Princeton International Workshop on the Physics of Compressible Turbulent Mixing, held in 1988. Workshop participants were asked to emphasize the physics of the compressible mixing process rather than measurement techniques or computational methods. Actual experimental results and their meaning were given precedence over discussions of new diagnostic developments. Theoretical interpretations and understanding were stressed rather than the exposition of new analytical model developments or advances in numerical procedures. By design, compressibility influences on turbulent mixing were discussed--almost exclusively--from the perspective of supersonic flow field studies. The papers are arranged in three topical categories: Foundations, Vortical Domination, and Strongly Coupled Compressibility. The Foundations category is a collection of seminal studies that connect current study in compressible turbulent mixing with compressible, high-speed turbulent flow research that almost vanished about two decades ago. A number of contributions are included on flow instability initiation, evolution, and transition between the states of unstable flow onset through those descriptive of fully developed turbulence. The Vortical Domination category includes theoretical and experimental studies of coherent structures, vortex pairing, vortex-dynamics-influenced pressure focusing. In the Strongly Coupled Compressibility category the organizers included the high-speed turbulent flow investigations in which the interaction of shock waves could be considered an important source for production of new turbulence or for the enhancement of pre-existing turbulence. Individual papers are processed separately.

  19. A new compression design that increases proximal locking screw bending resistance in femur compression nails.

    Science.gov (United States)

    Karaarslan, Ahmet Adnan; Karakaşli, Ahmet; Karci, Tolga; Aycan, Hakan; Yildirim, Serhat; Sesli, Erhan

    2015-06-01

    The aim is to present our new method of compression, a compression tube instead of conventional compression screw and to investigate the difference of proximal locking screw bending resistance between compression screw application (6 mm wide contact) and compression tube (two contact points with 13 mm gap) application. We formed six groups each consisting of 10 proximal locking screws. On metal cylinder representing lesser trochanter level, we performed 3-point bending tests with compression screw and with compression tube. We determined the yield points of the screws in 3-point bending tests using an axial compression testing machine. We determined the yield point of 5 mm screws as 1963±53 N (mean±SD) with compression screw, and as 2929±140 N with compression tubes. We found 51% more locking screw bending resistance with compression tube than with compression screw (p=0,000). Therefore compression tubes instead of compression screw must be preferred at femur compression nails.

  20. Compressed Submanifold Multifactor Analysis.

    Science.gov (United States)

    Luu, Khoa; Savvides, Marios; Bui, Tien; Suen, Ching

    2016-04-14

    Although widely used, Multilinear PCA (MPCA), one of the leading multilinear analysis methods, still suffers from four major drawbacks. First, it is very sensitive to outliers and noise. Second, it is unable to cope with missing values. Third, it is computationally expensive since MPCA deals with large multi-dimensional datasets. Finally, it is unable to maintain the local geometrical structures due to the averaging process. This paper proposes a novel approach named Compressed Submanifold Multifactor Analysis (CSMA) to solve the four problems mentioned above. Our approach can deal with the problem of missing values and outliers via SVD-L1. The Random Projection method is used to obtain the fast low-rank approximation of a given multifactor dataset. In addition, it is able to preserve the geometry of the original data. Our CSMA method can be used efficiently for multiple purposes, e.g. noise and outlier removal, estimation of missing values, biometric applications. We show that CSMA method can achieve good results and is very efficient in the inpainting problem as compared to [1], [2]. Our method also achieves higher face recognition rates compared to LRTC, SPMA, MPCA and some other methods, i.e. PCA, LDA and LPP, on three challenging face databases, i.e. CMU-MPIE, CMU-PIE and Extended YALE-B.

  1. AFSC/REFM: Alaska Stock Assessment Results Archive (SARA)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Each year over 50 Alaskan groundfish stock assessments report the condition of Alaskan fisheries resources in the U.S. Exclusive Economic Zone. Stock assessment...

  2. The Mauritius stock exchange: Sectoral analysis, risk and return ...

    African Journals Online (AJOL)

    Companies listed on the Mauritius Stock Exchange are classified into seven sectors of the ... Industry, Investments, Sugar, Commerce, Leisure & Hotels and Transport. ... Keywords: Mauritius Stock Exchange, Return, Standard Deviation, Beta ...

  3. Think About Tomorrow Morning: Opening Stock Returns May Show Reversals

    Directory of Open Access Journals (Sweden)

    Andrey Kudryavtsev

    2013-12-01

    Full Text Available In present study, I explore the dynamics of the interday stock price reversals. Employing intraday price data on thirty stocks currently making up the Dow Jones Industrial Index, I document that stock returns in opening trading sessions tend to be higher following days with relatively low (either negative, or lower than the same day's average and median for the total sample of stocks open-to-close returns. This kind of price behavior seems to contradict stock market efficiency. Based on this finding, I construct three portfolios based on the opening trading sessions and involving a long position in the stocks on the days when their opening returns are expected to be high and a short position in the stocks on the days when their opening returns are expected to be low. All the portfolios are found to yield significantly positive returns, providing an evidence for the practical applicability of the "overnight reversals" pattern in stock prices.

  4. Effects of vegetation's degradation on carbon stock, morphological ...

    African Journals Online (AJOL)

    Effects of vegetation's degradation on carbon stock, morphological, physical and ... soils to stock carbon and how degradation can influence its various properties. ... Organic matter amount was very high and proves that these soils can be ...

  5. Impact of Global Financial Crisis on Nigerian Stock Market | Onuoha ...

    African Journals Online (AJOL)

    Impact of Global Financial Crisis on Nigerian Stock Market. ... The survey method of research design was adopted in an effort to generate the required ... should be encouraged so as to increase the capital base of stock market participants.

  6. The Interactive Influence of Perceived Ownership and Perceived Choosership of Stocks on Brain Response to Stock Outcomes

    Science.gov (United States)

    Shang, Zhe; Wang, Lei; Wu, Han

    2017-01-01

    The present research examined the influence of perceived ownership (self/other) and perceived chooser (self/other) of stocks on brain activity, and investigated whether differential brain responses to stock outcomes as a result of perceived differences in ownership of stock would be modulated by perceived chooser of stock. We used a 2 (stock chooser: self, other) × 2 (stock owner: self, other) within-subject design to represent four types of chooser-owner relationships. Brain potentials were recorded while participants observed increasing and decreasing stock prices. Results showed that observations of stock outcomes among four types of chooser-owner relationships elicited differentiated feedback-related negativity (d-FRN: differences in FRN waves between losses and gains, reflecting violations of expectancy to stock outcomes): (1) Self-chosen-other-owned stocks evoked significantly larger d-FRN discrepancies than self-chosen-self-owned stocks, indicating a greater expectancy violation to others' losses than to one's own, demonstrating a reversed ownership effect. Moreover, people high in conscientiousness showed an increase in this trend, suggesting a stronger other-consideration; (2) Self-chosen-self-owned stocks and other-chosen-self-owned stocks revealed no significant d-FRN discrepancy, showing no choosership effect beyond the ownership effect; (3) Other-chosen-self-owned stocks evoked a significantly stronger d-FRN discrepancy than other-chosen-other-owned stocks, demonstrating an ownership effect; (4) Self-chosen-other-owned stocks evoked a significantly stronger d-FRN discrepancy than other-chosen-other-owned stocks, revealing a choosership effect. These findings suggest that the ownership effect could be reversed by conscientiousness induced by perceived choosership in the agency relationship, while the choosership effect is attenuated and even disappears under the influence of perceived ownership. PMID:28194118

  7. The OMV Data Compression System Science Data Compression Workshop

    Science.gov (United States)

    Lewis, Garton H., Jr.

    1989-01-01

    The Video Compression Unit (VCU), Video Reconstruction Unit (VRU), theory and algorithms for implementation of Orbital Maneuvering Vehicle (OMV) source coding, docking mode, channel coding, error containment, and video tape preprocessed space imagery are presented in viewgraph format.

  8. 78 FR 17023 - Certain Outbound Property Transfers by Domestic Corporations; Certain Stock Distributions by...

    Science.gov (United States)

    2013-03-19

    ... Certain Outbound Property Transfers by Domestic Corporations; Certain Stock Distributions by Domestic Corporations; Indirect Stock Transfers and the Coordination Rule Exceptions; Transfers of Stock or Securities... Corporations; Certain Stock Distributions by Domestic Corporations AGENCY: Internal Revenue Service...

  9. Wearable EEG via lossless compression.

    Science.gov (United States)

    Dufort, Guillermo; Favaro, Federico; Lecumberry, Federico; Martin, Alvaro; Oliver, Juan P; Oreggioni, Julian; Ramirez, Ignacio; Seroussi, Gadiel; Steinfeld, Leonardo

    2016-08-01

    This work presents a wearable multi-channel EEG recording system featuring a lossless compression algorithm. The algorithm, based in a previously reported algorithm by the authors, exploits the existing temporal correlation between samples at different sampling times, and the spatial correlation between different electrodes across the scalp. The low-power platform is able to compress, by a factor between 2.3 and 3.6, up to 300sps from 64 channels with a power consumption of 176μW/ch. The performance of the algorithm compares favorably with the best compression rates reported up to date in the literature.

  10. Context-Aware Image Compression.

    Directory of Open Access Journals (Sweden)

    Jacky C K Chan

    Full Text Available We describe a physics-based data compression method inspired by the photonic time stretch wherein information-rich portions of the data are dilated in a process that emulates the effect of group velocity dispersion on temporal signals. With this coding operation, the data can be downsampled at a lower rate than without it. In contrast to previous implementation of the warped stretch compression, here the decoding can be performed without the need of phase recovery. We present rate-distortion analysis and show improvement in PSNR compared to compression via uniform downsampling.

  11. Compressive sensing for urban radar

    CERN Document Server

    Amin, Moeness

    2014-01-01

    With the emergence of compressive sensing and sparse signal reconstruction, approaches to urban radar have shifted toward relaxed constraints on signal sampling schemes in time and space, and to effectively address logistic difficulties in data acquisition. Traditionally, these challenges have hindered high resolution imaging by restricting both bandwidth and aperture, and by imposing uniformity and bounds on sampling rates.Compressive Sensing for Urban Radar is the first book to focus on a hybrid of two key areas: compressive sensing and urban sensing. It explains how reliable imaging, tracki

  12. Designing experiments through compressed sensing.

    Energy Technology Data Exchange (ETDEWEB)

    Young, Joseph G.; Ridzal, Denis

    2013-06-01

    In the following paper, we discuss how to design an ensemble of experiments through the use of compressed sensing. Specifically, we show how to conduct a small number of physical experiments and then use compressed sensing to reconstruct a larger set of data. In order to accomplish this, we organize our results into four sections. We begin by extending the theory of compressed sensing to a finite product of Hilbert spaces. Then, we show how these results apply to experiment design. Next, we develop an efficient reconstruction algorithm that allows us to reconstruct experimental data projected onto a finite element basis. Finally, we verify our approach with two computational experiments.

  13. Compressive myelopathy in fluorosis: MRI

    Energy Technology Data Exchange (ETDEWEB)

    Gupta, R.K. [MR Section, Department of Radiology, Sanjay Gandhi Post Graduate Institute of Medical Sciences, Lucknow-226014 (India); Agarwal, P. [MR Section, Department of Radiology, Sanjay Gandhi Post Graduate Institute of Medical Sciences, Lucknow-226014 (India); Kumar, S. [MR Section, Department of Radiology, Sanjay Gandhi Post Graduate Institute of Medical Sciences, Lucknow-226014 (India); Surana, P.K. [Department of Neurology, SGPGIMS, Lucknow-226014 (India); Lal, J.H. [MR Section, Department of Radiology, Sanjay Gandhi Post Graduate Institute of Medical Sciences, Lucknow-226014 (India); Misra, U.K. [Department of Neurology, SGPGIMS, Lucknow-226014 (India)

    1996-05-01

    We examined four patients with fluorosis, presenting with compressive myelopathy, by MRI, using spin-echo and fast low-angle shot sequences. Cord compression due to ossification of the posterior longitudinal ligament (PLL) and ligamentum flavum (LF) was demonstrated in one and ossification of only the LF in one. Marrow signal was observed in the PLL and LF in all the patients on all pulse sequences. In patients with compressive myelopathy secondary to ossification of PLL and/or LF, fluorosis should be considered as a possible cause, especially in endemic regions. (orig.). With 2 figs., 1 tab.

  14. Partial transparency of compressed wood

    Science.gov (United States)

    Sugimoto, Hiroyuki; Sugimori, Masatoshi

    2016-05-01

    We have developed novel wood composite with optical transparency at arbitrary region. Pores in wood cells have a great variation in size. These pores expand the light path in the sample, because the refractive indexes differ between constituents of cell and air in lumen. In this study, wood compressed to close to lumen had optical transparency. Because the condition of the compression of wood needs the plastic deformation, wood was impregnated phenolic resin. The optimal condition for high transmission is compression ratio above 0.7.

  15. Indonesian Stock Market Crisis Observation with Spectral and Composite Index

    OpenAIRE

    Situngkir, Hokky

    2012-01-01

    The paper discusses the employment of the index composed from the dynamical tree of correlations among stock prices both with the popularly used standard (conventional) composite one. The spectral index focus on the dynamics of the correlation coefficients among stock prices while composite index is the dynamical aggregate of the whole stocks traded in the market. Some advantages is conjectured by incorporating both indexes to the historical data of Indonesian Stock Market data. Both are show...

  16. Stock Returns Volatility in an Emerging Market: The Pakistani Evidence

    OpenAIRE

    Husain, Fazal; UPPAL, Jamshed

    1999-01-01

    This paper examines stock returns volatility in the Pakistani equity market. Using daily stock prices of 36 companies, 8 sector indices, and the general market index, the AutoRegressive Conditional Heteroscedasticity (ARCH) class of models was applied. The analyses suggest that one of the factors causing high serial dependence in stock returns in the Pakistani equity market is the presence of conditional heteroscedasticity or volatility in stock returns and that even after controlling for vol...

  17. Auditing Fee Determinants for Different Industries in Shanghai Stock Exchange

    OpenAIRE

    lin, shangyi

    2011-01-01

    Since 2001, China's Securities Regulatory Commission began to require every public company to disclose auditing fee in Chinese stock exchange. This research use auditing fee in Shanghai stock exchange to find determinants for auditing fee in different industries of Shanghai stock exchange. In this research, I find determinates in different industries. Previous researchers only used one or two year data of stock market. Owing to accuracy of results, I will use five year of data of Shanghai...

  18. On the random walk characteristics of stock returns in India

    OpenAIRE

    Hiremath, Gourishankar S; Bandi, Kamaiah

    2009-01-01

    An attempt is made in this paper to examine whether stock returns in two premier two exchanges in India namely, Bombay Stock Exchange (BSE), and National Stock Exchange (NSE) follow a random walk. Towards this end, data on major indices during the period 1997 to 2009 are analyzed by using non-parametric Runs and BDS tests. The findings of the study reveal that the stock returns do not follow random walk during the sample period.

  19. Stock Market Development in India: Is There Any Trend Break?

    OpenAIRE

    Pratap chandra Biswal; Kamaiah, B.

    2000-01-01

    This paper addresses the important question of what happened to the Indian stock market following financial liberalisation. Considering three stock market indicators, viz., size, liquidity and volatility, and applying two time series trend break techniques of Perron (1989, 1997) on monthly data (1991:1 to 1998:12) of Bombay Stock Exchange, it has been found that the Indian stock market grew and became more liquid after liberalisation. However, in respect of volatility the market had not exhib...

  20. German stock market behavior and the IFO business climate index

    OpenAIRE

    Jovanovic, Mario

    2011-01-01

    This paper investigates the driving force for German stock market behavior - stock market confidence. By using monthly new VDAX closing prices and a copula-based Markov approach, a proxy for German stock market confidence is derived. It can be shown that confidence responds to expected output changes in terms of differences of the IFO business climate index and to US confidence changes. Furthermore,German stock market behavior seems to be sticky in comparison to the United States and...

  1. Implied volatility transmissions between Thai and selected advanced stock markets

    OpenAIRE

    Thakolsri, Supachok; Sethapramote, Yuthana; Jiranyakul, Komain

    2015-01-01

    This paper investigates the impacts of changes in the U. S. implied volatility on the changes in implied volatilities of the Euro and Thai stock markets. For that purpose, volatilities implicit in stock index option prices from the U. S., Euro and Thai stock markets are analyzed using the standard Granger causality test, impulse response analysis, and variance decompositions. The results found in this study suggest that the U. S. stock market is the leading source of volatility transmissions ...

  2. Macroeconomic Factors and the Correlation of Stock and Bond Returns

    OpenAIRE

    Lingfeng Li

    2003-01-01

    This paper examines the correlation between stock and bond returns. It first documents that the major trends in stock-bond correlation for G7 countries follow a similar reverting pattern in the past forty years. Next, an asset pricing model is employed to show that the correlation of stock and bond returns can be explained by their common exposure to macroeconomic factors. The link between the stock-bond correlation and macroeconomic factors is examined using three successively more realistic...

  3. Normative Stock Exchange and Speculative Activities: Critique and Empirical Verification

    OpenAIRE

    Amir Kia

    2001-01-01

    This study reviews Tag el-Dini's (1996) paper and raises the possibilities that his organizational models may create other kinds of inefficiency. Furthermore, using Canadian stock data I extended his study and found that excess speculative activities (bubbles) do not add any information to the stock markets. Consequently, according to our empirical evidence, in light of Tag el-Dini's view, to achieve an efficient and stable stock market a highly regulatory normative stock exchange is needed. ...

  4. Compressive phase-only filtering at extreme compression rates

    Science.gov (United States)

    Pastor-Calle, David; Pastuszczak, Anna; Mikołajczyk, Michał; Kotyński, Rafał

    2017-01-01

    We introduce an efficient method for the reconstruction of the correlation between a compressively measured image and a phase-only filter. The proposed method is based on two properties of phase-only filtering: such filtering is a unitary circulant transform, and the correlation plane it produces is usually sparse. Thanks to these properties, phase-only filters are perfectly compatible with the framework of compressive sensing. Moreover, the lasso-based recovery algorithm is very fast when phase-only filtering is used as the compression matrix. The proposed method can be seen as a generalization of the correlation-based pattern recognition technique, which is hereby applied directly to non-adaptively acquired compressed data. At the time of measurement, any prior knowledge of the target object for which the data will be scanned is not required. We show that images measured at extremely high compression rates may still contain sufficient information for target classification and localization, even if the compression rate is high enough, that visual recognition of the target in the reconstructed image is no longer possible. The method has been applied by us to highly undersampled measurements obtained from a single-pixel camera, with sampling based on randomly chosen Walsh-Hadamard patterns.

  5. Heterogeneous information-based artificial stock market

    Science.gov (United States)

    Pastore, S.; Ponta, L.; Cincotti, S.

    2010-05-01

    In this paper, an information-based artificial stock market is considered. The market is populated by heterogeneous agents that are seen as nodes of a sparsely connected graph. Agents trade a risky asset in exchange for cash. Besides the amount of cash and assets owned, each agent is characterized by a sentiment. Moreover, agents share their sentiments by means of interactions that are identified by the graph. Interactions are unidirectional and are supplied with heterogeneous weights. The agent's trading decision is based on sentiment and, consequently, the stock price process depends on the propagation of information among the interacting agents, on budget constraints and on market feedback. A central market maker (clearing house mechanism) determines the price process at the intersection of the demand and supply curves. Both closed- and open-market conditions are considered. The results point out the validity of the proposed model of information exchange among agents and are helpful for understanding the role of information in real markets. Under closed market conditions, the interaction among agents' sentiments yields a price process that reproduces the main stylized facts of real markets, e.g. the fat tails of the returns distributions and the clustering of volatility. Within open-market conditions, i.e. with an external cash inflow that results in asset price inflation, also the unitary root stylized fact is reproduced by the artificial stock market. Finally, the effects of model parameters on the properties of the artificial stock market are also addressed.

  6. 47 CFR 32.4530 - Treasury stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Treasury stock. 32.4530 Section 32.4530 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4530 Treasury...

  7. Are Economists More Likely to Hold Stocks?

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Eyðfrið Juanna Schrøter; Rangvid, Jesper

    education, even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables.We model the stock market participation decision by the probit model...

  8. Fractal profit landscape of the stock market.

    Science.gov (United States)

    Grönlund, Andreas; Yi, Il Gu; Kim, Beom Jun

    2012-01-01

    We investigate the structure of the profit landscape obtained from the most basic, fluctuation based, trading strategy applied for the daily stock price data. The strategy is parameterized by only two variables, p and q Stocks are sold and bought if the log return is bigger than p and less than -q, respectively. Repetition of this simple strategy for a long time gives the profit defined in the underlying two-dimensional parameter space of p and q. It is revealed that the local maxima in the profit landscape are spread in the form of a fractal structure. The fractal structure implies that successful strategies are not localized to any region of the profit landscape and are neither spaced evenly throughout the profit landscape, which makes the optimization notoriously hard and hypersensitive for partial or limited information. The concrete implication of this property is demonstrated by showing that optimization of one stock for future values or other stocks renders worse profit than a strategy that ignores fluctuations, i.e., a long-term buy-and-hold strategy.

  9. Empirical Rationality in the Stock Market

    DEFF Research Database (Denmark)

    Raahauge, Peter

    2003-01-01

    for this empiricalrationality on part of the agent, the resulting empirical model assignslikelihood to the data actually observed, unlike in the unmodified rational expectationscase. A Lucas (1978)-type asset pricing model which incorporatesempirical rationality is constructed and estimated using U.S. stock data...

  10. Group identification in Indonesian stock market

    Science.gov (United States)

    Nurriyadi Suparno, Ervano; Jo, Sung Kyun; Lim, Kyuseong; Purqon, Acep; Kim, Soo Yong

    2016-08-01

    The characteristic of Indonesian stock market is interesting especially because it represents developing countries. We investigate the dynamics and structures by using Random Matrix Theory (RMT). Here, we analyze the cross-correlation of the fluctuations of the daily closing price of stocks from the Indonesian Stock Exchange (IDX) between January 1, 2007, and October 28, 2014. The eigenvalue distribution of the correlation matrix consists of noise which is filtered out using the random matrix as a control. The bulk of the eigenvalue distribution conforms to the random matrix, allowing the separation of random noise from original data which is the deviating eigenvalues. From the deviating eigenvalues and the corresponding eigenvectors, we identify the intrinsic normal modes of the system and interpret their meaning based on qualitative and quantitative approach. The results show that the largest eigenvector represents the market-wide effect which has a predominantly common influence toward all stocks. The other eigenvectors represent highly correlated groups within the system. Furthermore, identification of the largest components of the eigenvectors shows the sector or background of the correlated groups. Interestingly, the result shows that there are mainly two clusters within IDX, natural and non-natural resource companies. We then decompose the correlation matrix to investigate the contribution of the correlated groups to the total correlation, and we find that IDX is still driven mainly by the market-wide effect.

  11. Analysis of Naval Ammunition Stock Positioning

    Science.gov (United States)

    2015-12-01

    TERMS supply chain management, Monte-Carlo simulation, risk, delivery performance, stock positioning 15. NUMBER OF PAGES 85 16. PRICE CODE 17...18  5.  Determining the Source of Supply Distributions ......................19  6.  Determining Shipping Distances for All Shipments... Source of Supply Determination ......................................32  c.  Determining Total Cost

  12. Foreign Delisting and Domestic Stock Value

    DEFF Research Database (Denmark)

    Uderche-Rangau, Loredana; Carugati, Andrea

    2008-01-01

    of the delisting decision on the domestic stock price by observing the link between the pure value impact and the reasons for delisting. Our results show that, contrary to previous results, firms delisting from Tokyo can gain value depending on the reaction of the market operators to the content of the information...

  13. Legal insider trading and stock market liquidity

    NARCIS (Netherlands)

    Degryse, Hans; de Jong, Frank; Lefebvre, J.J.G.

    2016-01-01

    This paper assesses the impact of legal trades by corporate insiders on the liquidity of the firm’s stock. For this purpose, we analyze two liquidity measures and one information asymmetry measure. The analysis allows us to study as well the effect of a change in insider trading regulation, namely t

  14. Currency Hedging for International Stock Portfolios

    NARCIS (Netherlands)

    F.A. de Roon (Frans); T.E. Nijman (Theo); B.J.M. Werker

    2000-01-01

    textabstractThis paper tests whether hedging currency risk improves the performance of international stock portfolios. We use a generalized performance measure which allows for investor-dependencies such as different utility functions and the presence of nontraded risks. In addition we show that an

  15. A new Loan-Stock Financial Instrument

    CERN Document Server

    Morozovsky, A; Kholodenko, Y; Morozovsky, Alexander; Narasimhan, Rajan; Kholodenko, Yuri

    2000-01-01

    A new financial instrument (a new kind of a loan) is introduced. The loan-stock instrument (LSI) combines fixed rate instruments (loans, etc.) with other financial instruments that have higher volatilities and returns (stocks, mutual funds, currencies, derivatives, options, etc.). This new loan depends on the value of underlying security (for example, stock) in such a way that when underlying security increases, the value of loan decreases and backwards. The procedure to create a risk free portfolio and a technique to fairly price the LSI is described. The philosophy behind this procedure is quite similar to the Black-Scholes formalism in option theory. Creation of the risk free portfolio is possible because the change in the underlying security offsets the change in the value of the loan (or the amount that the borrower has to repay). The new financial instrument takes an advantage of the fact that on average the stock market grows in time. It is beneficial for both the borrower and the lender. The LSI is mo...

  16. Stock keeping unit fill rate specification

    NARCIS (Netherlands)

    Teunter, R. H.; Syntetos, A. A.; Babai, M. Z.

    2017-01-01

    The fill rate is the most widely applied service level measure in industry and yet there is minimal advice available on how it should be differentiated on an individual Stock Keeping Unit (SKU) basis given that there is an overall system target service level. The typical approach utilized in

  17. Stock Selection, Style Rotation, and Risk

    NARCIS (Netherlands)

    A. Lucas (André); R. van Dijk (Ronald); T. Kloek (Teun)

    2001-01-01

    textabstractUsing US data from June 1984 to July 1999, we show that the impact of firm-specific characteristics like size and book-to-price on future excess stock returns varies considerably over time. The impact can be either positive or negative at different times. This time variation is partially

  18. Dynamic Stock Market Participation of Households

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    education programs can affect consumers’ investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market articipation cost is about 5% of labor...

  19. The Reed Elsevier stock price gap

    NARCIS (Netherlands)

    Kamp, B.

    1995-01-01

    This is the report of a limited study on the structural stock price differences between Reed and Elsevier. The purpose of this study is to provide an overview of the problem area and to formulate and discuss several hypotheses regarding the causes of this gap. The research was performed by

  20. SETS, Arbitrage Activity, and Stock Price Dynamics

    NARCIS (Netherlands)

    Taylor, Nick; Dijk, van Dick; Franses, Philip Hans; Lucas, André

    1999-01-01

    This paper provides an empirical description of the relationshipbetween the trading system operated by a stockexchange and the transaction costs faced by heterogeneous investors who use the exchange. The recent introduction ofSETS in the London Stock Exchange provides an excellent opportunity to