WorldWideScience

Sample records for net growing stock

  1. Developing Inventory Projection Models Using Empirical Net Forest Growth and Growing-Stock Density Relationships Across U.S. Regions and Species Group

    Science.gov (United States)

    Prakash Nepal; Peter J. Ince; Kenneth E. Skog; Sun J. Chang

    2012-01-01

    This paper describes a set of empirical net forest growth models based on forest growing-stock density relationships for three U.S. regions (North, South, and West) and two species groups (softwoods and hardwoods) at the regional aggregate level. The growth models accurately predict historical U.S. timber inventory trends when we incorporate historical timber harvests...

  2. Volume growth trends in a Douglas-fir levels-of-growing-stock study.

    Science.gov (United States)

    Robert O. Curtis

    2006-01-01

    Mean curves of increment and yield in gross total cubic volume and net merchantable cubic volume were derived from seven installations of the regional cooperative Levels-of-Growing-Stock Study (LOGS) in Douglas-fir. The technique used reduces the seven curves for each treatment for each variable of interest to a single set of readily interpretable mean curves. To a top...

  3. NucNet's growing impact on the media

    Energy Technology Data Exchange (ETDEWEB)

    Carle, Remy [Electricite de France (France)

    1995-07-01

    In the four years since the birth of NucNet there has been a gradual but radical change In the original concept of the network. In the beginning, the focus of attention was to make nuclear communicators better-informed and more efficient. What had been desperately needed for some time was an Information exchange system which would enable those communicators to do a better Job whether working proactlvely or reactively. The idea was primarily for positive nuclear news from Europe to be disseminated to people on the network so that they could pass it on to media contacts in their respective countries, as part of their regular dialogue with journalists. However, once NucNet was up-and-running a strong body of opinion emerged, arguing in favour of NucNet's most urgent, important or off-beat news - the 'A' category releases - to be sent direct to national and international news agencies. Quite rightly, it was felt that, in this way, the nuclear community could clearly demonstrate Its transparency and Its desire to Inform the public openly. At the same time, it was clear that sending to just a few national news agencies in Europe would not be enough. It was clear that NucNet would have to expand into a truly worldwide network and that, to reflect this, the main International news agencies would have to be put online as well. NucNet's growing impact on the media is a result of teamwork, and this teamwork takes different forms. It is: between the network's information suppliers and Central Office, among the Central Office staff themselves, between Central Office and the agencies, and between network members and their news media contacts. Through this continuing teamwork process, NucNet will achieve its goal of providing the media and the public with a balanced picture of nuclear energy.

  4. NucNet's growing impact on the media

    International Nuclear Information System (INIS)

    Carle, Remy

    1995-01-01

    In the four years since the birth of NucNet there has been a gradual but radical change In the original concept of the network. In the beginning, the focus of attention was to make nuclear communicators better-informed and more efficient. What had been desperately needed for some time was an Information exchange system which would enable those communicators to do a better Job whether working proactlvely or reactively. The idea was primarily for positive nuclear news from Europe to be disseminated to people on the network so that they could pass it on to media contacts in their respective countries, as part of their regular dialogue with journalists. However, once NucNet was up-and-running a strong body of opinion emerged, arguing in favour of NucNet's most urgent, important or off-beat news - the 'A' category releases - to be sent direct to national and international news agencies. Quite rightly, it was felt that, in this way, the nuclear community could clearly demonstrate Its transparency and Its desire to Inform the public openly. At the same time, it was clear that sending to just a few national news agencies in Europe would not be enough. It was clear that NucNet would have to expand into a truly worldwide network and that, to reflect this, the main International news agencies would have to be put online as well. NucNet's growing impact on the media is a result of teamwork, and this teamwork takes different forms. It is: between the network's information suppliers and Central Office, among the Central Office staff themselves, between Central Office and the agencies, and between network members and their news media contacts. Through this continuing teamwork process, NucNet will achieve its goal of providing the media and the public with a balanced picture of nuclear energy

  5. Net Primary Production and Carbon Stocks for Subarctic Mesic-Dry Tundras with Contrasting Microtopography, Altitude, and Dominant Species

    DEFF Research Database (Denmark)

    Campioli, Matteo; Michelsen, Anders; Demey, A

    2009-01-01

    Mesic-dry tundras are widespread in the Arctic but detailed assessments of net primary production (NPP) and ecosystem carbon (C) stocks are lacking. We addressed this lack of knowledge by determining the seasonal dynamics of aboveground vascular NPP, annual NPP, and whole-ecosystem C stocks in five...... mesic-dry tundras in Northern Sweden with contrasting microtopography, altitude, and dominant species. Those measurements were paralleled by the stock assessments of nitrogen (N), the limiting nutrient. The vascular production was determined by harvest or in situ growing units, whereas the nonvascular...... hermaphroditum is more productive than Cassiope tetragona vegetation. Although the large majority of the apical NPP occurred in early-mid season (85%), production of stems and evergreen leaves proceeded until about 2 weeks before senescence. Most of the vascular vegetation was belowground (80%), whereas most...

  6. Growing stock and woody biomass assessment in Asola-Bhatti Wildlife Sanctuary, Delhi, India.

    Science.gov (United States)

    Kushwaha, S P S; Nandy, S; Gupta, Mohini

    2014-09-01

    Biomass is an important entity to understand the capacity of an ecosystem to sequester and accumulate carbon over time. The present study, done in collaboration with the Delhi Forest Department, focused on the estimation of growing stock and the woody biomass in the so-called lungs of Delhi--the Asola-Bhatti Wildlife Sanctuary in northern Aravalli hills. The satellite-derived vegetation strata were field-inventoried using stratified random sampling procedure. Growing stock was calculated for the individual sample plots using field data and species-specific volume equations. Biomass was estimated from the growing stock and the specific gravity of the wood. Among the four vegetation types, viz. Prosopis juliflora, Anogeissus pendula, forest plantation and the scrub, the P. juliflora was found to be the dominant vegetation in the area, covering 23.43 km(2) of the total area. The study revealed that P. juliflora forest with moderate density had the highest (10.7 m(3)/ha) while A. pendula forest with moderate density had the lowest (3.6 m(3)/ha) mean volume. The mean woody biomass was also found to be maximum in P. juliflora forest with moderate density (10.3 t/ha) and lowest in A. pendula forest with moderate density (3.48 t/ha). The total growing stock was estimated to be 20,772.95 m(3) while total biomass worked out to be 19,366.83 t. A strong correlation was noticed between the normalized difference vegetation index (NDVI) and the growing stock (R(2) = 0.84)/biomass (R(2) = 0.88). The study demonstrated that growing stock and the biomass of the woody vegetation in Asola-Bhatti Wildlife Sanctuary could be estimated with high accuracy using optical remote sensing data.

  7. US forest carbon calculation tool: forest-land carbon stocks and net annual stock change

    Science.gov (United States)

    James E. Smith; Linda S. Heath; Michael C. Nichols

    2007-01-01

    The Carbon Calculation Tool 4.0, CCTv40.exe, is a computer application that reads publicly available forest inventory data collected by the U.S. Forest Service's Forest Inventory and Analysis Program (FIA) and generates state-level annualized estimates of carbon stocks on forest land based on FORCARB2 estimators. Estimates can be recalculated as...

  8. Inference for lidar-assisted estimation of forest growing stock volume

    Science.gov (United States)

    Ronald E. McRoberts; Erik Næsset; Terje. Gobakken

    2013-01-01

    Estimates of growing stock volume are reported by the national forest inventories (NFI) of most countries and may serve as the basis for aboveground biomass and carbon estimates as required by an increasing number of international agreements. The probability-based (design-based) statistical estimators traditionally used by NFIs to calculate estimates are generally...

  9. Increasing carbon sinks in European forests: effect of afforestation and changes in mean growing stock volume

    NARCIS (Netherlands)

    Vilén, T.; Cienciala, E.; Schelhaas, M.; Verkerk, P.J.; Lindner, M.; Peltola, H.

    2016-01-01

    In Europe, both forest area and growing stock have increased since the 1950s, and European forests have acted as a carbon sink during the last six decades. However, the contribution of different factors affecting the sink is not yet clear. In this study, historical inventory data were combined with

  10. Effect of Stocking Density on Performance of Growing Rabbits in Semi-Humid Tropics

    Directory of Open Access Journals (Sweden)

    Iyeghe-Erakpotobor Grace, T.

    2005-01-01

    Full Text Available In order to evaluate the adoption possibility of Maize- Mucuna-Fertiliser (mineral System (MMFS, for soil fertilisation in the southern part of Togo, 52 farms from three representative villages of the region were analysed and classified into three types according to their adoption potential for the innovation: type A characterised by heads of farm being in majority land owners; type B whose head of farm are young, literate and in majority land tenants; and type C whose heads are old mainly land tenants. Participatory surveys, based on contingent ranking of the constraints, conducted with homogenous groups of farmers chosen according to three types of farm, helped to sort out the major constraints to the adoption of MMFS. These constraints, having a high degree of severity (≥ 45%, were in order of importance: the lack of money/loan, the land problem (lack of arable lands and insecurity on rented ones, the suppression of mixed cropping by the MMFS and the non availability of mucuna seed. For the farmers of type A, the non availability of mucuna seed and the lack of money/loan presented a degree of severity of 100% each. For those of type B and C, the land problem was the most important: it presented a degree of severity of 100% for the farmers of type B and 80% for those of type C. Sixty growing rabbits were housed at densities of 6.7, 10, 13.3, 16.7 and 20 rabbits/m2 in wood and poultry wire mesh cages for six weeks and fed a common diet of 22.6% CP and 2600 kcal/kg ME. Parameters measured were feed intake, weight gain, feed conversion ratio, body condition, fur condition and body bites. Stocking density significantly (P< 0.05 affected feed intake and weight gain but not feed conversion ratio of rabbits. Rabbits stocked at densities of 6.7, 10 and 13.3 rabbits/m2 had higher average daily gain than those stocked at higher densities. Feed intake was higher at higher densities. The trend shows a significant decrease in feed intake by individual

  11. NucNet's growing impact on the media - Now the official figures

    International Nuclear Information System (INIS)

    Ashton, Jack; Lewis, Chris

    1998-01-01

    Full text: The growing impact of NucNet on the news media has been a topic highlighted at previous PIMEs.On a couple of occasions, concrete examples have been given of NucNet being used by journalists writing about nuclear energy issues. These have consisted of newspaper clippings and copies of news agency reports. Some instances of NucNet material being used by the broadcast media have also been reported on. It should be pointed out that we are talking here about evaluating NucNet's worth purely on the basis of news stories carried by news agencies and newspapers which actually quote NucNet as a source. It is impossible to monitor and measure the full impact and influence that NucNet has on the reporting of nuclear. From the NucNet Central Office in Berne, it is not possible to see everything that goes on - to see how all network members pass on NucNet material to their media contacts and to see the end results. In addition, journalists are not under some sort of legally binding agreement to always quote NucNet as the source. There have been many cases where it has been clear that NucNet material has been used without NucNet being quoted directly by name. NucNet also influences the news judgement of journalists. For instance, a news editor might be inclined to go for a nuclear story that takes a particular (anti-nuclear) line provided by Greenpeace. But that person might have second thoughts on seeing the version of the same story supplied by NucNet, providing original information from the source directly involved. The news editor then has the opportunity to see both sides of the story and make a more accurate evaluation. With the additional information from NucNet, the result could be a properly balanced news story, or the news editor could decide to drop the story completely. Either way, we are talking about factors that are impossible to pin down and measure. In such circumstances, only case studies can be given. This means that so far the evaluation of NucNet

  12. Rearing of Milkfish, Chanos Chanos, in Net Cages at Sea at Various Stocking Densities

    Directory of Open Access Journals (Sweden)

    Kusman Sumawidjaja

    2007-08-01

    Full Text Available ABSTRACTStocking rate of milkfish, Chanos chanos, from 75 to 225 fish/m3  or from 1,33 to 3,98 kg/m3  did not affect the growth rate, survival rate, feeding efficiency, and final length and weight of fish, each at 2,32%/day, 81,8%, 63,8%, and 185,2 mm and 64,0 g respectively. Final biomass (Y increased from 3,66 to 12,05 kg/m3 with the increase of stocking rate (X with Y = 0,056 X-0,45 (p<0,05.Key words :   Milkfish, Chanos chanos, floating net cage, stocking density. ABSTRAKPadat penebaran ikan bandeng, Chanos chanos, dari 75 hingga 225 ekor/m3 atau dari 1,33 hingga 3,98 kg/m3 tidak mempengaruhi laju pertumbuhan, kelangsungan hidup, efisiensi pemberian pakan serta panjang dan bobot ikan akhir, masing-masing dengan rata-rata 2,32%/hari, 81,8%, 63,8%, 185,2 mm dan 64,0 g. Biomasa akhir (Y meningkat dari 3,66 hingga 12,05 kg/m3 dengan meningkatnya padat penebaran (X dengan persamaan Y = 0,056 X -0,45 (p<0,05.Kata kunci :  Ikan bandeng, Chanos chanos, keramba jaring apung, padat penebaran

  13. Net-Zero Energy Home Grows Up: Lessons and Puzzles from 10 Years of Data; Preprint

    Energy Technology Data Exchange (ETDEWEB)

    Sparn, Bethany; Earle, Lieko; Christensen, Craig; Norton, Paul

    2016-05-17

    In 2005, Habitat for Humanity of Metro Denver, with support from NREL and other partners, built one of the first homes in the US to achieve net-zero energy based on monitored data. A family of three moved into the house when it was completed and lives there still. The home has been monitored continuously for the past ten years. Although PV production has remained steady, net energy performance has varied each year. The home was a net producer of energy annually in each of the first three years and in the ninth year, but not in years four through eight. Over the years, the PV system provided between 124% and 64% of the home source energy use. Electricity use in the home increased steadily during the first eight years, even though no significant new appliance was introduced into the house, such as a window air conditioner. Miscellaneous electric loads and space heating, both strongly dependent on occupant behavior, appear to be primarily responsible for the observed increase in energy use. An interesting aspect of this case study is how, even within a single family, natural changes in occupant lifestyles over time (e.g., kids growing up, schedules changing) can substantially impact the overall energy intensity of a home. Data from the last ten years will be explored for lessons learned that can improve the way we design low-load homes without sacrificing comfort or convenience for the occupants, and how we can make realistic predictions of long-term energy performance.

  14. Levels-of-growing-stock cooperative study in Douglas-fir: report no. 18--Rocky Brook, 1963-2006.

    Science.gov (United States)

    Robert O. Curtis; David D. Marshall

    2009-01-01

    This report documents the history and results of the Rocky Brook installation of the cooperative levels-of-growing-stock (LOGS) study in Douglas-fir (Pseudotsuga menziesii (Mirb.) Franco), over the 41-year period 1965 to 2006. This 1938 plantation is one of the two site-IV installations among the nine installations in the study. Much public...

  15. Can reduced stocking rates and natural forage utilization produce market sized catfish from fingerlings in one growing season

    Science.gov (United States)

    The purpose of this study was to determine the feasibility of growing marketable channel catfish Ictalurus punctatus from pond-run fingerlings (15.9 g/fish) using low stocking densities (7,413 or 14,826 fish/ha) and electrified bug lights to enhance natural forage available to fish. Even at low sto...

  16. Grow-out of spiny lobster Panulirus sp. with high stocking density in controlled tanks

    Directory of Open Access Journals (Sweden)

    Rio Yusufi Subhan

    2018-05-01

    Full Text Available ABSTRACTThe aim of this research was to determine optimum stocking density for growing-out of spiny lobster Panulirus sp. in controlled tanks that conducted for 30 days. The experimental spiny lobsters have the initial average weight of 130.39 ± 0.32 g and initial average total length of 140.70 ± 0.06 mm. This study used completely randomized design with three different stocking densities (KT10: 10 ind/m3; KT18: 18 ind/m3; and KT26: 26 ind/m3 and two replications. The parameters observed in this study included water quality (temperature, pH, salinity, dissolved oxygen, and total ammonia nitrogen, physiological responses (total haemocyte count, haemolymph glucose, and frequency of molt, and production performances, such as growth, specific growth rate, feed conversion ratio, and survival rate. The results showed that the spiny lobster could be reared in high stocking density in controlled tanks. Water quality during the study in each treatment was; temperature 26.56–28.65oC, salinity 29.7–33.6 g/L, pH 7.5–8.5, dissolved oxygen 6.15–6.58 mg/L, and total ammonia nitrogen 0.11–0.34 mg/L. The best stocking densities for spiny lobster was 18 ind/m3 (KT18 with 2.5‒3.5×106cells/mL total haemocyte counts, 24.6‒28.3 mg/dL haemolymph glucose, and 38.37 ± 3.20% frequency of molt. The final average body weight and length were 145.06 ± 0.42 g and 142.77 ± 0.19 mm, respectively. The survival rate reached 86.11 ± 3.92% with a specific growth rate 0.35 ± 0.01%/day, and feed conversion ratio 7.87 ± 0.31.Keywords: high stocking density, Panulirus sp., physiological responses, productivity.  ABSTRAKTujuan dari penelitian ini adalah untuk menentukan kepadatan terbaik dalam pembesaran lobster laut Panulirus sp. yang dipelihara dalam bak terkontrol selama 30 hari. Lobster laut yang digunakan pada awal penelitian memiliki bobot 130,39 ± 0,32 g dan panjang total 140,70 ± 0,06 mm. Penelitian dilakukan menggunakan rancangan acak lengkap dengan

  17. Levels-of-growing-stock cooperative study on Douglas-fir: report no. 02—The Hoskins Study, 1963-1970.

    Science.gov (United States)

    John F. Bell; Alan B. Berg

    1972-01-01

    Public and private agencies are cooperating in a study of eight thinning regimes in young Douglas-fir stands. Regimes differ in the amount of basal area allowed to accrue in growing stock at each successive thinning. All regimes start with a common level-of-growing-stock which is established by a conditioning thinning. Thinning interval is...

  18. Mapping Canopy Height and Growing Stock Volume Using Airborne Lidar, ALOS PALSAR and Landsat ETM+

    Directory of Open Access Journals (Sweden)

    Wayne Walker

    2012-10-01

    Full Text Available We have investigated for forest plantations in Chile the stand-level retrieval of canopy height (CH and growing stock volume (GSV using Airborne Laser Scanner (ALS, ALOS PALSAR and Landsat. In a two-stage up-scaling approach, ensemble regression tree models (randomForest were used to relate a suite of ALS canopy structure indices to stand-level in situ measurements of CH and GSV for 319 stands. The retrieval of CH and GSV with ALS yielded high accuracies with R2s of 0.93 and 0.81, respectively. A second set of randomForest models was developed using multi-temporal ALOS PALSAR intensities and repeat-pass coherences in two polarizations as well as Landsat data as predictor and stand-level ALS based estimates of CH and GSV as response variables. At three test sites, the retrieval of CH and GSV with PALSAR/Landsat reached promising accuracies with R2s in the range of 0.7 to 0.85. We show that the combined use of multi-temporal PALSAR intensity, coherence and Landsat yields higher retrieval accuracies than the retrieval with any of the datasets alone. Potential limitations for the large-area application of the fusion approach included (1 the low sensitivity of ALS first/last return data to forest horizontal structure, affecting the retrieval of GSV in less managed types of forest, and (2 the dense ALS sampling required to achieve high retrieval accuracies at larger scale.

  19. Stock Market Prediction on High-Frequency Data Using Generative Adversarial Nets

    Directory of Open Access Journals (Sweden)

    Xingyu Zhou

    2018-01-01

    Full Text Available Stock price prediction is an important issue in the financial world, as it contributes to the development of effective strategies for stock exchange transactions. In this paper, we propose a generic framework employing Long Short-Term Memory (LSTM and convolutional neural network (CNN for adversarial training to forecast high-frequency stock market. This model takes the publicly available index provided by trading software as input to avoid complex financial theory research and difficult technical analysis, which provides the convenience for the ordinary trader of nonfinancial specialty. Our study simulates the trading mode of the actual trader and uses the method of rolling partition training set and testing set to analyze the effect of the model update cycle on the prediction performance. Extensive experiments show that our proposed approach can effectively improve stock price direction prediction accuracy and reduce forecast error.

  20. Exploiting the capabilities of the Sentinel-2 multi spectral instrument for predicting growing stock volume in forest ecosystems

    Science.gov (United States)

    Mura, Matteo; Bottalico, Francesca; Giannetti, Francesca; Bertani, Remo; Giannini, Raffaello; Mancini, Marco; Orlandini, Simone; Travaglini, Davide; Chirici, Gherardo

    2018-04-01

    The spatial prediction of growing stock volume is one of the most frequent application of remote sensing for supporting the sustainable management of forest ecosystems. For such a purpose data from active or passive sensors are used as predictor variables in combination with measures taken in the field in sampling plots. The Sentinel-2 (S2) satellites are equipped with a Multi Spectral Instrument (MSI) capable of acquiring 13 bands in the visible and infrared domains with a spatial resolution varying between 10 and 60 m. The present study aimed at evaluating the performance of the S2-MSI imagery for estimating the growing stock volume of forest ecosystems. To do so we used 240 plots measured in two study areas in Italy. The imputation was carried out with eight k-Nearest Neighbours (k-NN) methods available in the open source YaImpute R package. In order to evaluate the S2-MSI performance we repeated the experimental protocol also with two other sets of images acquired by two well-known satellites equipped with multi spectral instruments: Landsat 8 OLI and RapidEye scanner. We found that S2 worked better than Landsat in 37.5% of the cases and in 62.5% of the cases better than RapidEye. In one study area the best performance was obtained with Landsat OLI (RMSD = 6.84%) and in the other with S2 (RMSD = 22.94%), both with the k-NN system based on a distance matrix calculated with the Random Forest algorithm. The results confirmed that S2 images are suitable for predicting growing stock volume obtaining good performances (average RMSD for both the test areas of less than 19%).

  1. Mapping growing stock volume and forest live biomass: a case study of the Polissya region of Ukraine

    Science.gov (United States)

    Bilous, Andrii; Myroniuk, Viktor; Holiaka, Dmytrii; Bilous, Svitlana; See, Linda; Schepaschenko, Dmitry

    2017-10-01

    Forest inventory and biomass mapping are important tasks that require inputs from multiple data sources. In this paper we implement two methods for the Ukrainian region of Polissya: random forest (RF) for tree species prediction and k-nearest neighbors (k-NN) for growing stock volume and biomass mapping. We examined the suitability of the five-band RapidEye satellite image to predict the distribution of six tree species. The accuracy of RF is quite high: ~99% for forest/non-forest mask and 89% for tree species prediction. Our results demonstrate that inclusion of elevation as a predictor variable in the RF model improved the performance of tree species classification. We evaluated different distance metrics for the k-NN method, including Euclidean or Mahalanobis distance, most similar neighbor (MSN), gradient nearest neighbor, and independent component analysis. The MSN with the four nearest neighbors (k = 4) is the most precise (according to the root-mean-square deviation) for predicting forest attributes across the study area. The k-NN method allowed us to estimate growing stock volume with an accuracy of 3 m3 ha-1 and for live biomass of about 2 t ha-1 over the study area.

  2. Dynamic Relationships between Price and Net Asset Value for Asian Real Estate Stocks

    Directory of Open Access Journals (Sweden)

    Kim Hiang LIOW

    2018-03-01

    Full Text Available This paper examines short- and long-term behavior of the price-to net asset value ratio in six Asian public real estate markets. We find mean-reverting behavior of the ratio and spillover effects, where each of the examined public real estate markets correlates with other markets. Additionally, the unexpected shock correlating with the price-to-net asset value ratio in one market has a positive or negative correlation with the ratios of other markets. Our results offer fresh insights to portfolio managers, policymakers, and academic researchers into the regional and country market dynamics of public real estate valuation and cross-country interaction from the long-term and short-term perspectives.

  3. Levels-of-growing-stock cooperative study in Douglas-fir: report no. 19—The Iron Creek study, 1966–2006.

    Science.gov (United States)

    Robert O. Curtis; David D. Marshall

    2009-01-01

    This report documents the history and results of the Iron Creek installation of the cooperative Levels-of-Growing-Stock (LOGS) study in Douglas-fir (Pseudotsuga menziesii (Mirb.) Franco), over the period 1966–2006 (ages 19 to 59). This is a 1949 plantation on an excellent site, and is one of nine installations in the study. Results are generally...

  4. Levels-of-growing-stock cooperative study in Douglas-fir: report no. 08—The LOGS Study, 20-year results.

    Science.gov (United States)

    Robert O. Curtis; David D. Marshall

    1986-01-01

    This progress report reviews the history and status of the cooperative levels-of-growing-stock study in coast Douglas-fir, begun in 1961, in Oregon, Washington, and British Columbia. It presents new analyses, including comparisons among some installations. Data now available are primarily from the site II installations, which are approaching completion of the study....

  5. Effect of different growing media on the growth and flowering of stock (matthiola incana) under the agro-climatic condition of dera ismail khan

    International Nuclear Information System (INIS)

    Waseem, K.; Hameed, A.; Jilani, M.S.; Kiran, M.; Ghazanfarullah, R.; Javeria, S.; Jilani, T.A

    2013-01-01

    A pot experiment was conducted to investigate the effect of different growing media on the growth and development of stock (Matthiola incana). Seven different growing media including soil (100%), leaf mold (100%), coconut husk (100%), soil + leaf mold (50:50), soil + coconut husk (50:50), leaf mold + coconut husk (50:50) and soil + leaf mold + coconut husk (33:33:33) were used to check the growth of Stock plants in pots. Data was recorded for different parameters including days to flower initiation, days to flowering, plant height (cm), leaves per plant, branches per plant, flowering clusters per plant, flowers per cluster, flowers per plant and flower persistence life (days), during this course of study. The overall performance of Stock was better in media having leaf mold as it took least days to flower initiation (75.83), maximum plant height (21.43 cm), flowering clusters per plant (4.11), number of flowers per cluster (8.45 days), flowers per plant (34.66). For better growth and flowering of Stock plant, leaf mold can be used as growing media in pots. (author)

  6. Exploiting Growing Stock Volume Maps for Large Scale Forest Resource Assessment: Cross-Comparisons of ASAR- and PALSAR-Based GSV Estimates with Forest Inventory in Central Siberia

    Directory of Open Access Journals (Sweden)

    Christian Hüttich

    2014-07-01

    Full Text Available Growing stock volume is an important biophysical parameter describing the state and dynamics of the Boreal zone. Validation of growing stock volume (GSV maps based on satellite remote sensing is challenging due to the lack of consistent ground reference data. The monitoring and assessment of the remote Russian forest resources of Siberia can only be done by integrating remote sensing techniques and interdisciplinary collaboration. In this paper, we assess the information content of GSV estimates in Central Siberian forests obtained at 25 m from ALOS-PALSAR and 1 km from ENVISAT-ASAR backscatter data. The estimates have been cross-compared with respect to forest inventory data showing 34% relative RMSE for the ASAR-based GSV retrievals and 39.4% for the PALSAR-based estimates of GSV. Fragmentation analyses using a MODIS-based land cover dataset revealed an increase of retrieval error with increasing fragmentation of the landscape. Cross-comparisons of multiple SAR-based GSV estimates helped to detect inconsistencies in the forest inventory data and can support an update of outdated forest inventory stands.

  7. Growing season length as a key factor of cumulative net ecosystem exchange over the pine forest ecosystems in Europe

    Czech Academy of Sciences Publication Activity Database

    Danielewska, A.; Urbaniak, M.; Olejnik, Janusz

    2015-01-01

    Roč. 29, č. 2 (2015), s. 129-135 ISSN 0236-8722 Institutional support: RVO:67179843 Keywords : forest * carbon dioxide * eddy covariance * growing season length Subject RIV: EH - Ecology, Behaviour Impact factor: 1.067, year: 2015

  8. The impact of net value added on predicting the earnings and operating cash flow: An empirical study based on Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Omid Imani Khoshkhoo

    2013-12-01

    Full Text Available Information content of earnings and its components and other issues except the earnings such as the operating cash flow (OCF have been tested widely in the accounting and finance literature. Since they have had an essential role in most cases including financial reporting, contracts and evaluation models, specifying the items and financial variables that have had a significant relationship with these two variables are expected to be of utmost importance. One example of these variables and indicators is the value added. Although this variable has an economic concept, reporting of value added to the beneficiaries of business entity as the value-added statement has been observed in the field of accounting theories for many years. The main objective of this study was to investigate the effect of net value added (NVA as the basic result of value-added statement in predicting the accounting earnings and operating cash flow. For this purpose, the relationship of changes in net value added with the changes in accounting earnings and operating cash flow of listed companies in Tehran Stock Exchange from 2007 to 2011 was tested. Firstly the Single variable cross-sectional regression was analyzed and then the panel data analysis with the PLS technique was used to do a pooled analysis. The results of testing research hypothesis imply the significant relationship between changes in net value added and accounting earnings in the listed companies as cross-sectional and pooled forms. The results showed no significant relationship between changes in net value added and operating cash flow in the listed companies neither in cross-sectional nor pooled form.

  9. Estimating agro-ecosystem carbon balance of northern Japan, and comparing the change in carbon stock by soil inventory and net biome productivity

    International Nuclear Information System (INIS)

    Li, Xi; Toma, Yo; Yeluripati, Jagadeesh; Iwasaki, Shinya; Bellingrath-Kimura, Sonoko D.; Jones, Edward O.; Hatano, Ryusuke

    2016-01-01

    Soil C sequestration in croplands is deemed to be one of the most promising greenhouse gas mitigation options for agriculture. We have used crop-level yields, modeled heterotrophic respiration (Rh) and land use data to estimate spatio-temporal changes in regional scale net primary productivity (NPP), plant C inputs, and net biome productivity (NBP) in northern Japan's arable croplands and grasslands for the period of 1959–2011. We compared the changes in C stocks derived from estimated NBP and using repeated inventory datasets for each individual land use type from 2005 to 2011. For the entire study region of 2193 ha, overall annual plant C inputs to the soil constituted 37% of total region NPP. Plant C inputs in upland areas (excluding bush/fallow) could be predicted by climate variables. Overall NBP for all land use types increased from − 1.26 Mg C ha"−"1 yr"−"1 in 1959–0.26 Mg C ha"−"1 yr"−"1 in 2011. However, upland and paddy fields showed a decreased in NBP over the period of 1959–2011, under the current C input scenario. From 1988, an increase in agricultural abandonment (bush/fallow) and grassland cover caused a slow increase in the regional C pools. The comparison of carbon budgets using the NBP estimation method and the soil inventory method indicated no significant difference between the two methods. Our results showed C loss in upland crops, paddy fields and sites that underwent land use change from paddy field to upland sites. We also show C gain in grassland from 2005 to 2011. An underestimation of NBP or an overestimation of repeated C inventories cannot be excluded, but either method may be suitable for tracking absolute changes in soil C, considering the uncertainty associated with these methods. - Highlights: • We compared C stocks change by two methods: (i) net biome productivity (NBP) and (ii) soil inventory. • Variation in net primary productivity (NPP), plant C input, NBP can be predicted by climate conditions. • NBP

  10. Estimating agro-ecosystem carbon balance of northern Japan, and comparing the change in carbon stock by soil inventory and net biome productivity

    Energy Technology Data Exchange (ETDEWEB)

    Li, Xi, E-mail: icy124@hotmail.com [School of Chemistry and Chemical Engineering, Southwest Petroleum University, Chengdu 610500 (China); Graduate school of Agriculture, Hokkaido University, Kita 9 Nishi 9, Kita-ku, Sapporo 060-8589 (Japan); Toma, Yo [Faculty of Agriculture, Ehime University, 3-5-7, Tarumi, Matsuyama 790-8566, Ehime (Japan); Yeluripati, Jagadeesh [The James Hutton Institute, Craigiebuckler, Aberdeen AB15 8QH, Scotland (United Kingdom); Iwasaki, Shinya [Graduate school of Agriculture, Hokkaido University, Kita 9 Nishi 9, Kita-ku, Sapporo 060-8589 (Japan); Bellingrath-Kimura, Sonoko D. [Leibniz Centre for Agricultural Landscape Research, Institute of Land Use Systems (Germany); Jones, Edward O. [Department of Infectious Disease Epidemiology, London School of Hygiene and Tropical Medicine, London (United Kingdom); Hatano, Ryusuke [Graduate school of Agriculture, Hokkaido University, Kita 9 Nishi 9, Kita-ku, Sapporo 060-8589 (Japan)

    2016-06-01

    Soil C sequestration in croplands is deemed to be one of the most promising greenhouse gas mitigation options for agriculture. We have used crop-level yields, modeled heterotrophic respiration (Rh) and land use data to estimate spatio-temporal changes in regional scale net primary productivity (NPP), plant C inputs, and net biome productivity (NBP) in northern Japan's arable croplands and grasslands for the period of 1959–2011. We compared the changes in C stocks derived from estimated NBP and using repeated inventory datasets for each individual land use type from 2005 to 2011. For the entire study region of 2193 ha, overall annual plant C inputs to the soil constituted 37% of total region NPP. Plant C inputs in upland areas (excluding bush/fallow) could be predicted by climate variables. Overall NBP for all land use types increased from − 1.26 Mg C ha{sup −1} yr{sup −1} in 1959–0.26 Mg C ha{sup −1} yr{sup −1} in 2011. However, upland and paddy fields showed a decreased in NBP over the period of 1959–2011, under the current C input scenario. From 1988, an increase in agricultural abandonment (bush/fallow) and grassland cover caused a slow increase in the regional C pools. The comparison of carbon budgets using the NBP estimation method and the soil inventory method indicated no significant difference between the two methods. Our results showed C loss in upland crops, paddy fields and sites that underwent land use change from paddy field to upland sites. We also show C gain in grassland from 2005 to 2011. An underestimation of NBP or an overestimation of repeated C inventories cannot be excluded, but either method may be suitable for tracking absolute changes in soil C, considering the uncertainty associated with these methods. - Highlights: • We compared C stocks change by two methods: (i) net biome productivity (NBP) and (ii) soil inventory. • Variation in net primary productivity (NPP), plant C input, NBP can be predicted by climate

  11. COINTEGRATION ANALYSIS OF EUROPEAN STOCK MARKETS (ROMANIA, GERMANY, FRANCE AND POLAND FROM THE PERSPECTIVE OF THE NET ASSETS INVESTMENT OF THE ROMANIAN MANDATORY PRIVATE PENSION FUNDS

    Directory of Open Access Journals (Sweden)

    Andreea-Cristina PETRICA

    2016-12-01

    Full Text Available The goal of this paper is to investigate cointegration between Bucharest Stock Exchange and three European Stock Markets: Germany,France and Poland, respectively. The choice of the European markets is based on the net assets investment of the Romanian mandatory private pension funds. On June 30, 2016, according to the Romanian Financial Supervisory Authority 91.28% of all investments in shares of private pension funds have been performed in Romanian shares, while the rest of 8.72% (0.44 billion lei have been performed in shares issued by Germany (2.34%, France (2.23%, Poland (0.89% and other countries. Having the intention of achieving maximizing returns by managing risk, and also to capture the co-movements in the above markets,we perform the cointegration analysis to examine portfolio diversification of the Romanian mandatory private pension funds. The empirical analysis is based on daily closing prices of the BET Index, DAX 30 Index, CAC 40 Index and WIG 20 Index and covers the period from 30 January 2006 to 27 September 2016 (2713 observations.

  12. Specific net present value: an improved method for assessing modularisation costs in water services with growing demand.

    Science.gov (United States)

    Maurer, M

    2009-05-01

    A specific net present value (SNPV) approach is introduced as a criterion in economic engineering decisions. The SNPV expresses average costs, including the growth rate and plant utilisation over the planning horizon, factors that are excluded from a standard net present value approach. The use of SNPV favours alternatives that are cheaper per service unit and are therefore closer to the costs that a user has to cover. It also shows that demand growth has a similar influence on average costs as an economy of scale. In a high growth scenario, solutions providing less idle capacity can have higher present value costs and still be economically favourable. The SNPV approach is applied in two examples to calculate acceptable additional costs for modularisation and comparable costs for on-site treatment (OST) as an extreme form of modularisation. The calculations show that: (i) the SNPV approach is suitable for quantifying the comparable costs of an OST system in a different scenario; (ii) small systems with projected high demand growth rates and high real interest rates are the most probable entry market for OST water treatment systems; (iii) operating expenses are currently the main economic weakness of membrane-based wastewater OST systems; and (iv) when high growth in demand is expected, up to 100% can be additionally invested in modularisation and staging the expansion of a treatment plant.

  13. Using mushroom farm and anaerobic digestion wastewaters as supplemental fertilizer sources for growing container nursery stock in a closed system.

    Science.gov (United States)

    Chong, C; Purvis, P; Lumis, G; Holbein, B E; Voroney, R P; Zhou, H; Liu, H-W; Alam, M Z

    2008-04-01

    Wastewaters from farm and composting operations are often rich in select nutrients that potentially can be reutilized in crop production. Liners of silverleaf dogwood (Cornus alba L. 'Argenteo-marginata'), common ninebark [Physocarpus opulifolius (L.) Maxim.], and Anthony Waterer spirea (Spiraeaxbumalda Burvénich 'Anthony Waterer') were grown in 6L containers filled with a bark-based commercial mix. Plants were fertigated daily via a computer-controlled multi-fertilizer injector with three recirculated fertilizer treatments: (1) a stock (control) solution with complete macro- and micro-nutrients, electrical conductivity (EC) 2.2 dS m(-1); (2) wastewater from a mushroom farm; and (3) process wastewater from anaerobic digestion of municipal solid waste. The wastewaters used in both treatments 2 and 3 were diluted with tap water, and the computer was programmed to amend, dispense and recirculate nutrients based on the same target EC as in treatment 1. For comparison, there was a traditional controlled-release fertilizer treatment [Nutryon 17-5-12 (17N-2P-10K) plus micro-nutrients topdressed at a rate of 39 g/plant, nutrients not recirculated]. All three species responded similarly to the three recirculated fertilizer treatments. Growth with the recirculated treatments was similar and significantly higher than that obtained with controlled-release fertilizer. Throughout the study, the EC measured in wastewater-derived nutrient solutions, and also in the container substrate, were similar or close to those of the control treatment, although there were small to large differences among individual major nutrients. There was no sign of nutrient deficiency or toxicity symptoms to the plants. Small to moderate excesses in concentrations of SO(4), Na, and/or Cl were physiologically tolerable to the species.

  14. Estimating agro-ecosystem carbon balance of northern Japan, and comparing the change in carbon stock by soil inventory and net biome productivity.

    Science.gov (United States)

    Li, Xi; Toma, Yo; Yeluripati, Jagadeesh; Iwasaki, Shinya; Bellingrath-Kimura, Sonoko D; Jones, Edward O; Hatano, Ryusuke

    2016-06-01

    Soil C sequestration in croplands is deemed to be one of the most promising greenhouse gas mitigation options for agriculture. We have used crop-level yields, modeled heterotrophic respiration (Rh) and land use data to estimate spatio-temporal changes in regional scale net primary productivity (NPP), plant C inputs, and net biome productivity (NBP) in northern Japan's arable croplands and grasslands for the period of 1959-2011. We compared the changes in C stocks derived from estimated NBP and using repeated inventory datasets for each individual land use type from 2005 to 2011. For the entire study region of 2193 ha, overall annual plant C inputs to the soil constituted 37% of total region NPP. Plant C inputs in upland areas (excluding bush/fallow) could be predicted by climate variables. Overall NBP for all land use types increased from -1.26MgCha(-1)yr(-1) in 1959-0.26 Mg Cha(-1)yr(-1) in 2011. However, upland and paddy fields showed a decreased in NBP over the period of 1959-2011, under the current C input scenario. From 1988, an increase in agricultural abandonment (bush/fallow) and grassland cover caused a slow increase in the regional C pools. The comparison of carbon budgets using the NBP estimation method and the soil inventory method indicated no significant difference between the two methods. Our results showed C loss in upland crops, paddy fields and sites that underwent land use change from paddy field to upland sites. We also show C gain in grassland from 2005 to 2011. An underestimation of NBP or an overestimation of repeated C inventories cannot be excluded, but either method may be suitable for tracking absolute changes in soil C, considering the uncertainty associated with these methods. Copyright © 2016 Elsevier B.V. All rights reserved.

  15. Growing season variability of net ecosystem CO2 exchange and evapotranspiration of a sphagnum mire in the broad-leaved forest zone of European Russia

    International Nuclear Information System (INIS)

    Olchev, A; Volkova, E; Karataeva, T; Novenko, E

    2013-01-01

    The spatial and temporal variability of net ecosystem exchange (NEE) of CO 2 and evapotranspiration (ET) of a karst-hole sphagnum peat mire situated at the boundary between broad-leaved and forest–steppe zones in the central part of European Russia in the Tula region was described using results from field measurements. NEE and ET were measured using a portable measuring system consisting of a transparent ventilated chamber combined with an infrared CO 2 /H 2 O analyzer, LI-840A (Li-Cor, USA) along a transect from the southern peripheral part of the mire to its center under sunny clear-sky weather conditions in the period from May to September of 2012 and in May 2013. The results of the field measurements showed significant spatial and temporal variability of NEE and ET that was mainly influenced by incoming solar radiation and ground water level. The seasonal patterns of NEE and ET within the mire were quite different. During the entire growing season the central part of the mire was a sink of CO 2 for the atmosphere. NEE reached maximal values in June–July (−6.8 ± 4.2 μmol m −2 s −1 ). The southern peripheral part of the mire, due to strong shading by the surrounding forest, was a sink of CO 2 for the atmosphere in June–July only. ET reached maximal values in the well-lighted central parts of the mire in May (0.34 ± 0.20 mm h −1 ) mainly because of high air and surface temperatures and the very wet upper peat horizon and sphagnum moss. Herbaceous species made the maximum contribution to the total gross primary production (GPP) in both the central and the peripheral parts of the mire. The contribution of sphagnum to the total GPP of these plant communities was relatively small and ranged on sunny days of July–August from −1.1 ± 1.1 mgC g −1 of dry weight (DW) per hour in the peripheral zone of the mire to −0.6 ± 0.2 mgC g −1 DW h −1 at the mire center. The sphagnum layer made the maximum contribution to total ET at the mire center (0

  16. Growing container seedlings: Three considerations

    Science.gov (United States)

    Kas Dumroese; Thomas D. Landis

    2015-01-01

    The science of growing reforestation and conservation plants in containers has continually evolved, and three simple observations may greatly improve seedling quality. First, retaining stock in its original container for more than one growing season should be avoided. Second, strongly taprooted species now being grown as bareroot stock may be good candidates...

  17. Capital Structure and Stock Returns

    OpenAIRE

    Ivo Welch

    2002-01-01

    U.S. corporations do not issue and repurchase debt and equity to counteract the mechanistic effects of stock returns on their debt-equity ratios. Thus over one- to five-year horizons, stock returns can explain about 40 percent of debt ratio dynamics. Although corporate net issuing activity is lively and although it can explain 60 percent of debt ratio dynamics (long-term debt issuing activity being most capital structurerelevant), corporate issuing motives remain largely a mystery. When stock...

  18. EVALUATION OF FISH FAUNA STOCKS IN DAMS IN SOSSEGO MIME IN CANAÃ OF CARAJÁS (EASTERN AMAZON, CAPTURED WITH THE USE OF CAST NET BEFORE THE DEPOSIT OF TAILINGS

    Directory of Open Access Journals (Sweden)

    Ivan Furtado Junior

    2016-12-01

    Full Text Available This study aims to estimate the biomass of fish stocks in the area of the dam formed by tailings of Sossego mine in Canaã dos Carajás, captured with the use of cast nets for fish. The prospecting work was carried out during the period from 29 February to 6 March 2004, 6 months after closing the dam and immediately before the disposal of waste. The average values estimated for the capture per unit area covered by cast nets (CPUA and biomass were 8.4 g m-² and 16,922.7 kg, respectively. The most representative groups of fish were minnows, with 67.7% and discus with 24.8% of the total estimated biomass. The species caught were: Moenkhausia cf. sanctaefilomenae (redeye tetra fish, Tetragonopterus cf. argenteus (white tetra fish, Tetragonopterus chalceus (red tetra fish, Aequidens viridis (cichlasoma bimaculatum Crenicichla cincta (jacunda Hoplerythrinus unitaeniatus (jeju Curimata inornata (branquinha and Hoplias malabaricus (trahira. Keywords: fishing survey; yield per unit area; biomass; tailings dam.

  19. Growing a professional network to over 3000 members in less than 4 years: evaluation of InspireNet, British Columbia's virtual nursing health services research network.

    Science.gov (United States)

    Frisch, Noreen; Atherton, Pat; Borycki, Elizabeth; Mickelson, Grace; Cordeiro, Jennifer; Novak Lauscher, Helen; Black, Agnes

    2014-02-21

    Use of Web 2.0 and social media technologies has become a new area of research among health professionals. Much of this work has focused on the use of technologies for health self-management and the ways technologies support communication between care providers and consumers. This paper addresses a new use of technology in providing a platform for health professionals to support professional development, increase knowledge utilization, and promote formal/informal professional communication. Specifically, we report on factors necessary to attract and sustain health professionals' use of a network designed to increase nurses' interest in and use of health services research and to support knowledge utilization activities in British Columbia, Canada. "InspireNet", a virtual professional network for health professionals, is a living laboratory permitting documentation of when and how professionals take up Web 2.0 and social media. Ongoing evaluation documents our experiences in establishing, operating, and evaluating this network. Overall evaluation methods included (1) tracking website use, (2) conducting two member surveys, and (3) soliciting member feedback through focus groups and interviews with those who participated in electronic communities of practice (eCoPs) and other stakeholders. These data have been used to learn about the types of support that seem relevant to network growth. Network growth exceeded all expectations. Members engaged with varying aspects of the network's virtual technologies, such as teams of professionals sharing a common interest, research teams conducting their work, and instructional webinars open to network members. Members used wikis, blogs, and discussion groups to support professional work, as well as a members' database with contact information and areas of interest. The database is accessed approximately 10 times per day. InspireNet public blog posts are accessed roughly 500 times each. At the time of writing, 21 research teams

  20. GROW-OUT OF ABALONE Haliotis squamata IN FLOATING CAGES FED DIFFERENT PROPORTIONS OF SEAWEED AND WITH REDUCTION OF STOCKING DENSITY

    Directory of Open Access Journals (Sweden)

    I Nyoman Adiasmara Giri

    2014-06-01

    Full Text Available Abalone is a herbivore marine animal which feeds on seaweed. Abalone culture has a good prospect in terms of price, market share and simple culture technique. Thus, a study was conducted with the aim of finding out an effective and efficient abalone culture technique in terms of feed use and density. In this study, a 42 cm diameter plastic container with a 22 cm height was used. Three vertically arranged containers were used as the experimental group which were put into a net box and hung onto a raft so that the containers were placed in a 4 m depth below the sea surface. The juvenile of abalones being used came from a hatchery production that has been adapted to cages environment with Gracilaria sp. and Ulva sp. feed. The initial density of abalones was 450 for each container, with the initial weight of 2.6-3.2 g and the 2.5-2.7 cm shell lengths. The abalones were fed with Gracilaria sp. and Ulva sp. seaweeds with different Gracilaria sp./Ulva sp. proportions, i.e. 100/0% (A; 80/20% (B; and 60/40% (C as the treatments. Each treatment consisted of two replications. After three months of rearing period, densities of abalones were reduced to be 190 for each experimental unit. Weight and shell length of abalones were measured every month by measuring 25 abalone samples from each experimental unit. The result of the experiment showed that the increase in the Ulva sp. proportion in the feed increased the growth of abalones and decreased the feed conversion. Feeding with Gracilaria sp./Ulva sp. proportion of 60%/40% allowed the best growth of abalones. The decrease of abalone density in the experimental unit after three months of rearing also produced an increase in their growth.

  1. The site of net absorption of Ca from the intestinal tract of growing pigs and effect of phytic acid, Ca level and Ca source on Ca digestibility.

    Science.gov (United States)

    González-Vega, J Caroline; Walk, Carrie L; Liu, Yanhong; Stein, Hans H

    2014-01-01

    An experiment was conducted to test the hypothesis that the standardised digestibility of Ca in calcium carbonate and Lithothamnium calcareum Ca is not different regardless of the level of dietary Ca, and that phytic acid affects the digestibility of Ca in these two ingredients to the same degree. The objectives were to determine where in the intestinal tract Ca absorption takes place and if there are measurable quantities of basal endogenous Ca fluxes in the stomach, small intestine or large intestine. Diets contained calcium carbonate or L. calcareum Ca as the sole source of Ca, 0% or 1% phytic acid and 0.4% or 0.8% Ca. A Ca-free diet was also formulated and used to measure endogenous fluxes and losses of Ca. Nine growing pigs (initial body weight 23.8 ± 1.3 kg) were cannulated in the duodenum and in the distal ileum, and faecal, ileal and duodenal samples were collected. Duodenal endogenous fluxes of Ca were greater (p calcareum Ca diets, but that was not the case if calcium carbonate was the source of Ca (interaction, p calcareum Ca was greater (p calcareum Ca. In conclusion, under the conditions of this experiment, standardised digestibility of Ca is not affected by the level of phytic acid, but may be affected by dietary Ca level depending on the Ca source. Calcium from calcium carbonate is mostly absorbed before the duodenum, but Ca from L. calcareum Ca is mostly absorbed in the jejunum and ileum.

  2. Compression stockings

    Science.gov (United States)

    Call your health insurance or prescription plan: Find out if they pay for compression stockings. Ask if your durable medical equipment benefit pays for compression stockings. Get a prescription from your doctor. Find a medical equipment store where they can ...

  3. 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....

  4. Grow, Baby, Grow

    Science.gov (United States)

    Maybe you quit smoking during your pregnancy. Or maybe you struggled and weren’t able to stay quit. Now that your baby is here, trying to stay away from smoking is still important. That’s because the chemicals in smoke can make it harder for your baby to grow like he or she should.

  5. Net carbon flux of dead wood in forests of the Eastern US.

    Science.gov (United States)

    Woodall, C W; Russell, M B; Walters, B F; D'Amato, A W; Fraver, S; Domke, G M

    2015-03-01

    Downed dead wood (DDW) in forest ecosystems is a C pool whose net flux is governed by a complex of natural and anthropogenic processes and is critical to the management of the entire forest C pool. As empirical examination of DDW C net flux has rarely been conducted across large scales, the goal of this study was to use a remeasured inventory of DDW C and ancillary forest attributes to assess C net flux across forests of the Eastern US. Stocks associated with large fine woody debris (diameter 2.6-7.6 cm) decreased over time (-0.11 Mg ha(-1) year(-1)), while stocks of larger-sized coarse DDW increased (0.02 Mg ha(-1) year(-1)). Stocks of total DDW C decreased (-0.14 Mg ha(-1) year(-1)), while standing dead and live tree stocks both increased, 0.01 and 0.44 Mg ha(-1) year(-1), respectively. The spatial distribution of DDW C stock change was highly heterogeneous with random forests model results indicating that management history, live tree stocking, natural disturbance, and growing degree days only partially explain stock change. Natural disturbances drove substantial C transfers from the live tree pool (≈-4 Mg ha(-1) year(-1)) to the standing dead tree pool (≈3 Mg ha(-1) year(-1)) with only a minimal increase in DDW C stocks (≈1 Mg ha(-1) year(-1)) in lower decay classes, suggesting a delayed transfer of C to the DDW pool. The assessment and management of DDW C flux is complicated by the diversity of natural and anthropogenic forces that drive their dynamics with the scale and timing of flux among forest C pools remaining a large knowledge gap.

  6. Petri Nets

    Indian Academy of Sciences (India)

    In a computer system, for example, typical discrete events ... This project brought out a series of influential reports on Petri net theory in the mid and late ... Technology became a leading centre for Petri net research and from then on, Petri nets ...

  7. Composição corporal e exigências líquidas proteicas de ovinos Santa Inês em crescimento Body composition and net protein requirements for growing Santa Inês sheep

    Directory of Open Access Journals (Sweden)

    José Gilson Louzada Regadas Filho

    2011-06-01

    protein requirements of 24 Santa Inês non-castrated growing sheep at average age of 50 days and average body weight of 13.00 ± 0.56 kg. After a ten-day adaptation period, four animals were slaughtered to be used as a reference for estimates of empty body weight (EBW and initial body composition of the other animals. The remaining animals were assigned into a randomized block design with diets containg different levels of metabolizable energy (2.08; 2.28; 2.47 and 2.69 Mcal/kg of DM and crude protein (12.74; 14.36, 15.97 and 17.65% CP of DM with five replicates. The N daily excretion was estimated by extrapolating regression equations of N intake (g/kg BW0.75/day in function of retention (g/kg BW0.75/day for zero intake. The derivative regression of the logarithm of protein content in function of the logarithm of EBW enabled the estimation of net protein requirement for empty body weight gain (EBWG. Daily nitrogen excretion was 277 ± 0.05 mg/kg BW0.75/day and net protein requirement for maintenance was 1.73 g/kg BW0.75/day. Protein content of EBW of animals decreased from 157.83 to 144.33 g/kg of EBW when the BW of the animals increased from 15 to 30 kg, respectively. The amount of protein deposited in the gain decreased from 137.47 to 125.71 g/kg of EBWG with the increase of body weight of the animals from 15 to 30 kg, respectively. Nitrogen fecal excretion and protein net requirement for maintenance of Santa Inês growing lambs was lower than the values commonly cited by the main systems of feed evaluation and nutrient requirements for small ruminants.

  8. Taxing Stock Options: Efficiency, Fairness and Revenue Implications

    Directory of Open Access Journals (Sweden)

    Jack M. Mintz

    2015-10-01

    Full Text Available The federal Liberals and the NDP are right about this much: There is a more sensible way to tax the stock options that are granted as compensation by corporations than the approach the federal government takes now. But both parties are wrong about how much revenue an appropriate change in current tax policy will add to the treasury. Far from the half-billion dollars or more that both parties claim they will raise in federal tax revenue by changing the taxation of stock options, the appropriate reform will virtually raise no revenue. It could actually result in marginally lower tax revenue. As it stands, stock options are treated differently than salary and other forms of cash compensation when it comes to taxing an employee or director, in that they are subject to only half taxation, similar to capital gains. They are also treated differently than cash compensation for the corporation granting the options, in that they cannot be deducted from corporate income tax. The federal NDP and Liberals have both accepted the growing criticism, which only intensified in the aftermath of the 2008 financial crisis, that the lower tax rate is an unfair tax break for those employees who receive stock options. Both parties have proposed to change that, leaving an exemption for startup companies only, with the NDP proposing full personal taxation for all stock options except for start-up companies and the Liberals proposing it for options-based compensation exceeding $100,000. Treating stock options the same as cash compensation would indeed be more tax efficient, reducing the distortionary effect that can influence company compensation packages to give more weight to stock options and less to cash than they might otherwise. But the only way to ensure that efficiency is by treating both the personal tax side of the benefit, and the corporate tax side of the benefit, in the same way as other employee compensation. That is, applying full taxation to the recipient

  9. Net Neutrality

    DEFF Research Database (Denmark)

    Savin, Andrej

    2017-01-01

    Repealing “net neutrality” in the US will have no bearing on Internet freedom or security there or anywhere else.......Repealing “net neutrality” in the US will have no bearing on Internet freedom or security there or anywhere else....

  10. Geon deal triggers bloodbath in Goodrich stock

    International Nuclear Information System (INIS)

    Plishner, E.S.

    1993-01-01

    The stock market has not taken well to BFGoodrich's plans to sell half of its Geon vinyl business to the public in an initial public offering (IPO). Before the announcement of both the Geon offering and Clinton's economic plan, Goodrich stock was selling at about $54/share; a week later, it closed at $42.875. With 25.6 million shares, $285 million of market value, about one-quarter of the total, evaporated in response. As planned, the Geon offering is expected to raise $400 million-$450 million (net, after-tax). The company will redeploy the capital to grow its aerospace business, which focuses on aircraft maintenance and repair, by strategic acquisition. CEO John Ong says, 'We will use the proceeds to expand our specialty chemicals and aerospace businesses,' and the attractive opportunities are aerospace. 'There aren't any bargains in specialty chemicals now,' says Mark L. Parr, analyst at McDonald ampersand Co. Securities (Cleveland). If Goodrich makes only aerospace purchases, specialty chemicals could end up generating less than half of Goodrich's revenues and earnings, although the company expects strong specialty chemicals growth to 'maintain a balance' between the two business areas over the long term. 'Goodrich was never going to be the low-cost producer in PVC [polyvinyl chloride],' says Leonard Bogner, of Prudential Securities (New York), who thinks the move 'makes sense.' Goodrich, advised by Goldman Sachs (New York), apparently reasons that with the IPO market now strong, Wall Street bullish about PVC, and some strong acquisition candidates available in aerospace, it makes good sense to monetize Geon promptly. Some analysts agree: 'This is the point in the PVC cycle where the values tend to be highest, because the stock valuation runs well in advance of earnings,' says Parr

  11. Petri Nets

    Indian Academy of Sciences (India)

    GENERAL I ARTICLE ... In Part 1 of this two-part article, we have seen im- ..... mable logic controller and VLSI arrays, office automation systems, workflow management systems, ... complex discrete event and real-time systems; and Petri nets.

  12. 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.

  13. Stock option repricing in Europe

    NARCIS (Netherlands)

    Sauer, M.; Sautner, Z.

    2008-01-01

    This paper investigates the link between option repricing, firm performance and corporate governance in Europe. Our sample consists of 77 European firms that repriced their stock option between 1987 and 2003. We document that option repricing is mainly a phenomenon for young and fast growing firms

  14. RESTful NET

    CERN Document Server

    Flanders, Jon

    2008-01-01

    RESTful .NET is the first book that teaches Windows developers to build RESTful web services using the latest Microsoft tools. Written by Windows Communication Foundation (WFC) expert Jon Flanders, this hands-on tutorial demonstrates how you can use WCF and other components of the .NET 3.5 Framework to build, deploy and use REST-based web services in a variety of application scenarios. RESTful architecture offers a simpler approach to building web services than SOAP, SOA, and the cumbersome WS- stack. And WCF has proven to be a flexible technology for building distributed systems not necessa

  15. Improved netting

    International Nuclear Information System (INIS)

    Bramley, A.; Clabburn, R.J.T.

    1976-01-01

    A method is described for producing netting composed of longitudinal and transverse threads of irradiation cross linked thermoplastic material, the threads being joined together at their crossings by moulded masses of cross linked thermoplastic material. The thread may be formed of polyethylene filaments, subjected to a radiation dose of 15 to 25 MR. The moulding can be conducted at 245 0 to 260 0 C or higher. The product is claimed to be an improved quality of netting, with bonds of increased strength between crossing threads. (U.K.)

  16. Pro-Nets versus No-Nets: Differences in Urban Older Adults' Predilections for Internet Use

    Science.gov (United States)

    Cresci, M. Kay; Yarandi, Hossein N.; Morrell, Roger W.

    2010-01-01

    Enthusiasm for information technology (IT) is growing among older adults. Many older adults enjoy IT and the Internet (Pro-Nets), but others have no desire to use it (No-Nets). This study found that Pro-Nets and No-Nets were different on a number of variables that might predict IT use. No-Nets were older, had less education and income, were…

  17. Mark Stock | NREL

    Science.gov (United States)

    Stock Mark Stock Scientific Visualization Specialist Mark.Stock@nrel.gov | 303-275-4174 Dr. Stock , virtual reality, parallel computing, and manipulation of large spatial data sets. As an artist, he creates . Stock built the SUNLIGHT artwork that is installed on the Webb Building in downtown Denver. In addition

  18. Petri Nets

    Indian Academy of Sciences (India)

    Home; Journals; Resonance – Journal of Science Education; Volume 4; Issue 9. Petri Nets - Applications. Y Narahari. General Article Volume 4 Issue 9 September 1999 pp 44-52 ... Author Affiliations. Y Narahari1. Department of Computer Science and Automation, Indian Institute of Science, Bangalore 560 012, India.

  19. Net Gain

    International Development Research Centre (IDRC) Digital Library (Canada)

    Describing the effect of tax incentives for import, production, and sale of nets and insecticides; and ..... So far, China is the only country where a system for the routine treatment of ...... 1993), and the trials in Ecuador and Peru (Kroeger et al.

  20. Effect of stocking density on growth, maturity, fecundity, reproductive ...

    African Journals Online (AJOL)

    Jane

    2011-08-29

    Aug 29, 2011 ... niloticus into freshwater habitats of India took place in. 1952 and 1970 ..... Turbot (Psetta maxima) in the net cages on the southeastern Coast ... Asian Fish. ... ideal stocking density for cage culture of Monosex Nile Tilapia.

  1. Net Locality

    DEFF Research Database (Denmark)

    de Souza e Silva, Adriana Araujo; Gordon, Eric

    Provides an introduction to the new theory of Net Locality and the profound effect on individuals and societies when everything is located or locatable. Describes net locality as an emerging form of location awareness central to all aspects of digital media, from mobile phones, to Google Maps......, to location-based social networks and games, such as Foursquare and facebook. Warns of the threats these technologies, such as data surveillance, present to our sense of privacy, while also outlining the opportunities for pro-social developments. Provides a theory of the web in the context of the history...... of emerging technologies, from GeoCities to GPS, Wi-Fi, Wiki Me, and Google Android....

  2. Rare, but challenging tumors: NET

    International Nuclear Information System (INIS)

    Ivanova, D.; Balev, B.

    2013-01-01

    Full text: Introduction: Gastroenteropancreatic Neuroendocrine Tumors (GEP - NET) are a heterogeneous group of tumors with different locations and many different clinical, histological, and imaging performance. In a part of them a secretion of various organic substances is present. The morbidity of GEP - NET in the EU is growing, and this leads to increase the attention to them. What you will learn: Imaging methods used for localization and staging of GEP - NET, characteristics of the study’s protocols; Classification of GEP - NET; Demonstration of typical and atypical imaging features of GEP - NET in patients registered at the NET Center at University Hospital ‘St. Marina’, Varna; Features of metastatic NET, The role of imaging in the evaluation of treatment response and follow-up of the patients. Discussion: The image semiotics analysis is based on 19 cases of GEP - NET registered NET Center at University Hospital ‘St. Marina’. The main imaging method is multidetector CT (MDCT), and magnetic resonance imaging (MRI ) has advantages in the evaluation of liver lesions and the local prevalence of anorectal tumors. In patients with advanced disease and liver lesions the assessment of skeletal involvement (MRI/ nuclear medical method) is mandatory. The majority of GEP - NET have not any specific imaging findings. Therefore it is extremely important proper planning and conducting of the study (MDCT and MR enterography; accurate assessment phase of scanning, positive and negative contrast). Conclusion: GEP - NET is a major diagnostic challenge due to the absence of typical imaging characteristics and often an overlap with those of the tumors of different origin can be observed. Therefore, a good knowledge of clinical and imaging changes occurring at different locations is needed. MDCT is the basis for the diagnosis, staging and follow-up of these neoplasms

  3. Photochemical efficiency of photosystem II, photon yield of O2 evolution, photosynthetic capacity, and carotenoid composition during the midday depression of net CO2 uptake in Arbutus unedo growing in Portugal.

    Science.gov (United States)

    Demmig-Adams, B; Adams, W W; Winter, K; Meyer, A; Schreiber, U; Pereira, J S; Krüger, A; Czygan, F C; Lange, O L

    1989-03-01

    During the "midday depression" of net CO2 exchange in the mediterranean sclerophyllous shrub Arbutus unedo, examined in the field in Portugal during August of 1987, several parameters indicative of photosynthetic competence were strongly and reversibly affected. These were the photochemical efficiency of photosystem (PS) II, measured as the ratio of variable to maximum chlorophyll fluorescence, as well as the photon yield and the capacity of photosynthetic O2 evolution at 10% CO2, of which the apparent photon yield of O2 evolution was most depressed. Furthermore, there was a strong and reversible increase in the content of the carotenoid zeaxanthin in the leaves that occurred at the expense of both violaxanthin and β-carotene. Diurnal changes in fluorescence characteristics were interpreted to indicate three concurrent effects on the photochemical system. First, an increase in the rate of radiationless energy dissipation in the antenna chlorophyll, reflected by changes in 77K fluorescence of PSII and PSI as well as in chlorophyll a fluorescence at ambient temperature. Second, a state shift characterized by an increase in the proportion of energy distributed to PSI as reflected by changes in PSI fluorescence. Third, an effect lowering the photon yield of O2 evolution and PSII fluorescence at ambient temperature without affecting PSII fluorescence at 77K which would be expected from a decrease in the activity of the water splitting enzyme system, i.e. a donor side limitation.

  4. Growing Pains

    CERN Multimedia

    Katarina Anthony

    2013-01-01

    Heat expands and cold contracts: it’s a simple thermodynamic rule. But when temperatures swing from 300 K to near-absolute zero, this rule can mean a contraction of more than 80 metres across the LHC’s 27-km-long cryogenic system. Keeping this growth in check are compensators (a.k.a. bellows), which shrink and stretch in response to thermodynamic changes. Leak tests and X-rays now underway in the tunnel have revealed that these “joints” might be suffering from growing pains…   This 25-μm weld crack is thought to be the cause of the helium leaks. Prior to the LS1 warm-up, CERN’s cryogenic experts knew of two points in the machine’s cryogenic distribution system that were leaking helium. Fortunately, these leaks were sufficiently small, confined to known sub-sectors of the cryogenic line and – with help from the vacuum team (TE-VSC) – could easily be compensated for. But as the machine warmed up f...

  5. 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…

  6. Predictability of Stock Returns

    Directory of Open Access Journals (Sweden)

    Ahmet Sekreter

    2017-06-01

    Full Text Available Predictability of stock returns has been shown by empirical studies over time. This article collects the most important theories on forecasting stock returns and investigates the factors that affecting behavior of the stocks’ prices and the market as a whole. Estimation of the factors and the way of estimation are the key issues of predictability of stock returns.

  7. 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...

  8. Taxation, Transfer Income and Stock Market Participation

    DEFF Research Database (Denmark)

    Fischer, Marcel; Astrup Jensen, Bjarne

    We study a redistributive tax system that taxes income and redistributes tax revenues in such a way that relatively rich agents are net contributors to relatively poor agents. The closed-form solution of our model allows two main conclusions: (i) Despite ongoing transfers, wealth levels are not h......We study a redistributive tax system that taxes income and redistributes tax revenues in such a way that relatively rich agents are net contributors to relatively poor agents. The closed-form solution of our model allows two main conclusions: (i) Despite ongoing transfers, wealth levels...... 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...

  9. 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.

  10. Energy demand in the Norwegian building stock: Scenarios on potential reduction

    International Nuclear Information System (INIS)

    Sartori, Igor; Wachenfeldt, Bjorn Jensen; Hestnes, Anne Grete

    2009-01-01

    A model has been developed for studying the effect of three hypothetical approaches in reducing electricity and energy demand in the Norwegian building stock: wide diffusion of thermal carriers, heat pumps and conservation measures, respectively. Combinations of these are also considered. The model has a demand side perspective, considers both residential and service sectors, and calculates energy flows from net to delivered energy. Energy demand is given by the product of activity and intensity matrices. The activity levels are defined for the stock and the new construction, renovation and demolition flows. The intensity properties are defined in archetypes, and are the result of different energy class and heating carriers share options. The scenarios are shaped by combining the activity flows with different archetypes. The results show that adopting conservation measures on a large scale does allow reducing both electricity and total energy demand from present day levels while the building stock keeps growing. The results also highlight the importance of making a clear distinction between the assumptions on intensity and activity levels.

  11. Energy demand in the Norwegian building stock. Scenarios on potential reduction

    Energy Technology Data Exchange (ETDEWEB)

    Sartori, Igor; Hestnes, Anne Grete [Department of Architectural Design, History and Technology, Norwegian University of Science and Technology (NTNU), 7491 Trondheim (Norway); Wachenfeldt, Bjoern Jensen [SINTEF Building and Infrastructure, 7465 Trondheim (Norway)

    2009-05-15

    A model has been developed for studying the effect of three hypothetical approaches in reducing electricity and energy demand in the Norwegian building stock: wide diffusion of thermal carriers, heat pumps and conservation measures, respectively. Combinations of these are also considered. The model has a demand side perspective, considers both residential and service sectors, and calculates energy flows from net to delivered energy. Energy demand is given by the product of activity and intensity matrices. The activity levels are defined for the stock and the new construction, renovation and demolition flows. The intensity properties are defined in archetypes, and are the result of different energy class and heating carriers share options. The scenarios are shaped by combining the activity flows with different archetypes. The results show that adopting conservation measures on a large scale does allow reducing both electricity and total energy demand from present day levels while the building stock keeps growing. The results also highlight the importance of making a clear distinction between the assumptions on intensity and activity levels. (author)

  12. Energy demand in the Norwegian building stock: Scenarios on potential reduction

    Energy Technology Data Exchange (ETDEWEB)

    Sartori, Igor [Department of Architectural Design, History and Technology, Norwegian University of Science and Technology (NTNU), 7491 Trondheim (Norway)], E-mail: igor.sartori@sintef.no; Wachenfeldt, Bjorn Jensen [SINTEF Building and Infrastructure, 7465 Trondheim (Norway); Hestnes, Anne Grete [Department of Architectural Design, History and Technology, Norwegian University of Science and Technology (NTNU), 7491 Trondheim (Norway)

    2009-05-15

    A model has been developed for studying the effect of three hypothetical approaches in reducing electricity and energy demand in the Norwegian building stock: wide diffusion of thermal carriers, heat pumps and conservation measures, respectively. Combinations of these are also considered. The model has a demand side perspective, considers both residential and service sectors, and calculates energy flows from net to delivered energy. Energy demand is given by the product of activity and intensity matrices. The activity levels are defined for the stock and the new construction, renovation and demolition flows. The intensity properties are defined in archetypes, and are the result of different energy class and heating carriers share options. The scenarios are shaped by combining the activity flows with different archetypes. The results show that adopting conservation measures on a large scale does allow reducing both electricity and total energy demand from present day levels while the building stock keeps growing. The results also highlight the importance of making a clear distinction between the assumptions on intensity and activity levels.

  13. Trading carbon for food: global comparison of carbon stocks vs. crop yields on agricultural land.

    Science.gov (United States)

    West, Paul C; Gibbs, Holly K; Monfreda, Chad; Wagner, John; Barford, Carol C; Carpenter, Stephen R; Foley, Jonathan A

    2010-11-16

    Expanding croplands to meet the needs of a growing population, changing diets, and biofuel production comes at the cost of reduced carbon stocks in natural vegetation and soils. Here, we present a spatially explicit global analysis of tradeoffs between carbon stocks and current crop yields. The difference among regions is striking. For example, for each unit of land cleared, the tropics lose nearly two times as much carbon (∼120 tons·ha(-1) vs. ∼63 tons·ha(-1)) and produce less than one-half the annual crop yield compared with temperate regions (1.71 tons·ha(-1)·y(-1) vs. 3.84 tons·ha(-1)·y(-1)). Therefore, newly cleared land in the tropics releases nearly 3 tons of carbon for every 1 ton of annual crop yield compared with a similar area cleared in the temperate zone. By factoring crop yield into the analysis, we specify the tradeoff between carbon stocks and crops for all areas where crops are currently grown and thereby, substantially enhance the spatial resolution relative to previous regional estimates. Particularly in the tropics, emphasis should be placed on increasing yields on existing croplands rather than clearing new lands. Our high-resolution approach can be used to determine the net effect of local land use decisions.

  14. Did pension plan accounting contribute to a stock market bubble?

    OpenAIRE

    Julia Lynn Coronado; Steven A. Sharpe

    2003-01-01

    During the 1990s, the asset portfolios of defined-benefit (DB) pension plans ballooned with the booming stock market. Due to current accounting guidelines, the robust growth in pension assets resulted in a stealthy but substantial boost to the profits of sponsoring corporations. This study assesses the extent to which equity investors were fooled by pension accounting. First, we test whether stock prices reflected the fair market value of sponsoring firms' net pension assets reported in footn...

  15. A Local Net Volume Equation for Iowa

    Science.gov (United States)

    Jerold T. Hahn

    1976-01-01

    As a part of the 1974 Forest Survey of Iowa, the Station''s Forst Resources Evaluatioin Research Staff developed a merchantable tree volume equation and tables of coefficients for Iowa. They were developed for both board-foot (International ?-inch rule) and cubic foot volumes, for several species and species groups of growing-stock trees. The equation and...

  16. Market Structure and Stock Splits

    OpenAIRE

    David Michayluk; Paul Kofman

    2001-01-01

    Enhanced liquidity is one possible motivation for stock splits but empirical research frequently documents declines in liquidity following stock splits. Despite almost thirty years of inquiry, little is known about all the changes in a stock's trading activity following a stock split. We examine how liquidity measures change around more than 2,500 stock splits and find a pervasive decline in most measures. Large stock splits exhibit a more severe liquidity decline than small stock splits, esp...

  17. Coloured Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt

    1987-01-01

    The author describes a Petri net model, called coloured Petri nets (CP-nets), by means of which it is possible to describe large systems without having to cope with unnecessary details. The author introduces CP-nets and provide a first impression of their modeling power and the suitability...

  18. Learning Visual Basic NET

    CERN Document Server

    Liberty, Jesse

    2009-01-01

    Learning Visual Basic .NET is a complete introduction to VB.NET and object-oriented programming. By using hundreds of examples, this book demonstrates how to develop various kinds of applications--including those that work with databases--and web services. Learning Visual Basic .NET will help you build a solid foundation in .NET.

  19. CONTAGIOUS EFFECTS OF OIL PRICES ON ASIAN STOCK MARKETS’ BEHAVIOUR

    Directory of Open Access Journals (Sweden)

    Jok-Tong Wan

    2016-05-01

    Full Text Available The main objective of this study is to examine the stock markets’ shock due to the effect of the price of oil in the East Asia Region. Particularly, this study examines if there is stock market interdependence during global oil price shocks (sudden changes for a sample of five total oil importers (the Philippines, Hong Kong SAR, Taiwan, South Korea, and Japan, four net oil importers (Indonesia, Singapore, Thailand, and China, and one net oil exporter (Malaysia between 1999 and 2014. From the result, an oil price change is collectively found to have a small but significant positive impact on the stock markets, in particular where a sudden decrease in oil prices tends to cause a stock market downturn and volatility. The world economy’s spending, financial investments in oil futures and foreign investment by oil rich nations are some underlying motives for inducing this oil-stock positive relation. The same direction of time-varying conditional correlations is found across East Asian stock markets during negative oil price shocks. The integration among East Asian stock markets is inducing the oil shock contagion to be transmitted from direct oil-affected countries (South Korea, Hong Kong, and Singapore to non-direct oil affected countries’ (Japan and Taiwan stock markets. In spite of a long practiced ASEAN+3 macroeconomics surveillance process and Early Warning System (EWS which can be customized for stock markets to prevent or detect the oil risk, hedging against initial oil-affected stock markets and a stronger influence by the East Asian countries in the global world of oil and capital investment are strongly suggested.

  20. Increased stocking density influences the acute physiological stress response of common carp (Cyprinus carpio (L.))

    NARCIS (Netherlands)

    Ruane, N.M.; Carballo, E.C.; Komen, J.

    2002-01-01

    The physiological response of common carp, Cyprinus carpio (L.) to increased stocking density and an additional acute net confinement stressor was investigated. Stocking densities were increased from 28.4 to 56.8 or 113.6 kg m¿3 by the use of crowding screens and fish were sampled from the crowded

  1. Notes on Economic Depreciation of Natural Resource Stocks and National Accounting

    OpenAIRE

    John W. Hartwick

    1991-01-01

    We consider numerous variations on the theme that stock diminution weighted by marginal rent should be netted from basic NNP to account for economic depreciation of natural stocks. Mineral discoveries, durable exhaustible resources, and mining pollution effects are examined. Capital appreciation from transforming land in virgin forest to land in agriculture is considered. Attention is paid to second best prices.

  2. The Effect of Stocking Density on the Performance of the Seaweed ...

    African Journals Online (AJOL)

    The seaweed biofilter Ulva reticulata was grown at two stocking densities (1 and 3 kg m-2) in a low cost integrated system in Zanzibar, Tanzania. The seaweed was stocked in 2 m2 cages made of 1 inch netting material placed at the outflow of fish ponds. Control seaweed was grown at the fish pond inflow channel.

  3. Using an experimental manipulation to determine the effectiveness of a stock enhancement program

    Science.gov (United States)

    Stewart, David R.; Long, James M.

    2015-01-01

    We used an experimental manipulation to determine the impact of stocking 178 mm channel catfish Ictalurus punctatus in six impoundments. The study design consisted of equal numbers (two) of control, ceased-stock, and stocked treatments that were sampled one year before and two years after stocking. Relative abundance, growth, size structure, and average weight significantly changed over time based on samples collected with hoop nets. Catch rates decreased at both ceased-stock lakes and increased for one stocked lake, while growth rates changed for at least one ceased-stock and stocked lake. The average weight of channel catfish in the ceased-stock treatment increased by 6% and 25%, whereas weight decreased by 28% and 78% in both stocked lakes. The variability in observed responses between lakes in both ceased-stock and stocked treatments indicates that a one-size-fits-all stocking agenda is impractical, suggesting lake specific and density-dependent mechanisms affect channel catfish population dynamics.

  4. Towards sustainable fisheries of the Öresund cod (Gadus morhua) through sub-stock-specific assessment and management recommendations

    DEFF Research Database (Denmark)

    Lindegren, Martin; Waldo, Staffan; Nilsson, P. Anders

    2013-01-01

    Fisheries management traditionally relies on stock assessments assuming discrete populations within large administrational areas. However, failing to account for sub-stock structuring may result in overestimation of the stocks' true harvest potential and unsustainable exploitation of small stock...... elements. Atlantic cod (Gadus morhua) frequently occurs in spatially segregated populations, some of which exhibit fine-scaled stock structuring within current management boundaries. Here we use the locally spawning cod stock in the Sound (“Öresund”) as a case study, and perform a sub-stock......-specific assessment to evaluate biological and economic effects of managing the Sound cod as a separate stock. Our results indicate that reducing exploitation pressure, particularly through technical regulations i.e. increasing gill-net mesh sizes, would not only enhance the stock age distribution, but yield long...

  5. Planning of nets

    International Nuclear Information System (INIS)

    Carberry, M

    1996-01-01

    The paper is about the planning of nets in areas of low density like it is the case of the rural areas. The author includes economic and technological aspects, planning of nets, demands and management among others

  6. Annotating Coloured Petri Nets

    DEFF Research Database (Denmark)

    Lindstrøm, Bo; Wells, Lisa Marie

    2002-01-01

    Coloured Petri nets (CP-nets) can be used for several fundamentally different purposes like functional analysis, performance analysis, and visualisation. To be able to use the corresponding tool extensions and libraries it is sometimes necessary to include extra auxiliary information in the CP......-net. An example of such auxiliary information is a counter which is associated with a token to be able to do performance analysis. Modifying colour sets and arc inscriptions in a CP-net to support a specific use may lead to creation of several slightly different CP-nets – only to support the different uses...... of the same basic CP-net. One solution to this problem is that the auxiliary information is not integrated into colour sets and arc inscriptions of a CP-net, but is kept separately. This makes it easy to disable this auxiliary information if a CP-net is to be used for another purpose. This paper proposes...

  7. The Differences Between Stock Splits and Stock Dividends

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Raaballe, Johannes

    It is often asserted that stock splits and stock dividends are purely cosmetic events. However, many studies have documented several stock market effects associated with stock splits and stock dividends. This paper examines the effects of these two types of events for the Danish stock market...... different. Second, the positive stock market reaction is closely related to associated changes in a firm's payout policy, but the relationship varies for the two types of events. Finally, there is only very weak evidence for a change in the liquidity of the stock. On the whole, after controlling...... for the firm's payout policy, the results suggest that a stock split is a cosmetic event and that a stock dividend on its own is considered negative news....

  8. 75 FR 46912 - Draft 2010 Marine Mammal Stock Assessment Reports

    Science.gov (United States)

    2010-08-04

    ..., Niihau stock, Kure-Midway stock, and the Pearl and Hermes stock. The SAR for the Hawaii stock of... new bottlenose dolphin stocks are the Kauai-Niihau stock, Oahu stock, Four Islands stock, and the...

  9. DLA Forward Stocking

    National Research Council Canada - National Science Library

    Flory, John

    2007-01-01

    .... This study evaluates the feasibility of forward stocking in terms of DoD savings. The performance of DLA's criteria is evaluated and a new criteria using a cost and demand threshold is proposed...

  10. Factors Affecting the Return Stock Company in Indonesia Stock Exchange (IDX LQ45 in Years 2012-2015

    Directory of Open Access Journals (Sweden)

    Fangki A. Sorongan

    2016-03-01

    Full Text Available This research aimed to determine the effect of partially and jointly independent variable of Debt to Equity Ratio (DER, Return on Equity (ROA, Return on Equity (ROE, and Net Profit Margin (NPM against the dependent variable on the stock return. Objects of this research were companies listed on the Indonesia Stock Exchange (BEI LQ45 continuously for four years in the period 2012-2015. Companies that qualify for this research were 28 companies. Based on this research, the conclusions indicate that all four independent variables; Debt to Equity Ratio (DER, Return on Equity (ROA, Return on Equity (ROE, and Net Profit Margin (NPM, either jointly or partially give the significant effect on return stock.

  11. Growing media [Chapter 5

    Science.gov (United States)

    Douglass F. Jacobs; Thomas D. Landis; Tara Luna

    2009-01-01

    Selecting the proper growing medium is one of the most important considerations in nursery plant production. A growing medium can be defined as a substance through which roots grow and extract water and nutrients. In native plant nurseries, a growing medium can consist of native soil but is more commonly an "artificial soil" composed of materials such as peat...

  12. In-use product stocks link manufactured capital to natural capital.

    Science.gov (United States)

    Chen, Wei-Qiang; Graedel, T E

    2015-05-19

    In-use stock of a product is the amount of the product in active use. In-use product stocks provide various functions or services on which we rely in our daily work and lives, and the concept of in-use product stock for industrial ecologists is similar to the concept of net manufactured capital stock for economists. This study estimates historical physical in-use stocks of 91 products and 9 product groups and uses monetary data on net capital stocks of 56 products to either approximate or compare with in-use stocks of the corresponding products in the United States. Findings include the following: (i) The development of new products and the buildup of their in-use stocks result in the increase in variety of in-use product stocks and of manufactured capital; (ii) substitution among products providing similar or identical functions reflects the improvement in quality of in-use product stocks and of manufactured capital; and (iii) the historical evolution of stocks of the 156 products or product groups in absolute, per capita, or per-household terms shows that stocks of most products have reached or are approaching an upper limit. Because the buildup, renewal, renovation, maintenance, and operation of in-use product stocks drive the anthropogenic cycles of materials that are used to produce products and that originate from natural capital, the determination of in-use product stocks together with modeling of anthropogenic material cycles provides an analytic perspective on the material linkage between manufactured capital and natural capital.

  13. 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.

  14. Survival and growth of fresh and stored planting stock.

    Science.gov (United States)

    Robert H. Ruth

    1953-01-01

    Does planting stock that has been kept in storage survive and grow as well as freshly dug stock? This question is important because the ground at a forest nursery may still be frozen when spring planting time arrives in the warmer parts of the region. This means that seedlings for spring planting need to be dug in the fall, kept in cold storage over winter, and shipped...

  15. Disturbance and climate effects on carbon stocks and fluxes across western Oregon USA.

    Science.gov (United States)

    B.E. Law; D. Turner; J. Campbell; O.J. Sun; S. Van Tuyl; W.D. Ritts; W.B. Cohen

    2004-01-01

    We used a spatially nested hierarchy of field and remote-sensing observations and a process model, Biome-BGC, to produce a carbon budget for the forested region of Oregon, and to determine the relative influence of differences in climate and disturbance among the ecoregions on carbon stocks and fluxes. The simulations suggest that annual net uptake (net ecosystem...

  16. Spatial distribution of soil organic carbon stocks in France

    Directory of Open Access Journals (Sweden)

    M. P. Martin

    2011-05-01

    Full Text Available Soil organic carbon plays a major role in the global carbon budget, and can act as a source or a sink of atmospheric carbon, thereby possibly influencing the course of climate change. Changes in soil organic carbon (SOC stocks are now taken into account in international negotiations regarding climate change. Consequently, developing sampling schemes and models for estimating the spatial distribution of SOC stocks is a priority. The French soil monitoring network has been established on a 16 km × 16 km grid and the first sampling campaign has recently been completed, providing around 2200 measurements of stocks of soil organic carbon, obtained through an in situ composite sampling, uniformly distributed over the French territory.

    We calibrated a boosted regression tree model on the observed stocks, modelling SOC stocks as a function of other variables such as climatic parameters, vegetation net primary productivity, soil properties and land use. The calibrated model was evaluated through cross-validation and eventually used for estimating SOC stocks for mainland France. Two other models were calibrated on forest and agricultural soils separately, in order to assess more precisely the influence of pedo-climatic variables on SOC for such soils.

    The boosted regression tree model showed good predictive ability, and enabled quantification of relationships between SOC stocks and pedo-climatic variables (plus their interactions over the French territory. These relationships strongly depended on the land use, and more specifically, differed between forest soils and cultivated soil. The total estimate of SOC stocks in France was 3.260 ± 0.872 PgC for the first 30 cm. It was compared to another estimate, based on the previously published European soil organic carbon and bulk density maps, of 5.303 PgC. We demonstrate that the present estimate might better represent the actual SOC stock distributions of France, and consequently that the

  17. Recycling strategy of the end-of-life rolling stock in China

    Science.gov (United States)

    Guo, L.; Wang, X. W.; Lin, Y.; Shen, X. F.; Liu, Y. Q.

    2018-03-01

    China's high-speed railway industry is growing fast, the side effect is that plenty of rolling stock come to the end of life each year. However, there are not relevant standards nor regulations for the recycling of rolling stock in China, which causes pollution and a waste of resources. In this paper, the basic meaning and characteristics of the circular economy is reviewed and applied to the rolling stock industry. The recycling steps are elaborated in detail according to the characteristics of rolling stock. The result proves that circular economy has both the theoretical and practical meaning in the rolling stock recycling industry in China.

  18. The Effects of Accounting Treatment and Financial Crisis on the Stock Option Plans of Italian Companies

    Directory of Open Access Journals (Sweden)

    Francesco Avallone

    2014-03-01

    Full Text Available Many studies state that favourable accounting treatment has been one of the main reasons behind employee stock options. In addition, stock options have recently been the target of growing criticism with a possible influence on incentive effectiveness and outrage costs. In such a perspective, the main purpose of the paper is to explore the impact of IFRS 2 and of the recent financial crisis on stock option compensation. Empirical evidence suggests that: (i IFRS 2 did not have a significant effect on stock option granting, (ii the issue of stock options is less likely to occur during the financial crisis.

  19. The Potential for Forestry to Reduce Net CO2 Emissions

    International Nuclear Information System (INIS)

    Eriksson, Erik

    2006-01-01

    Forestry may have an important role to play in attempts to reduce atmospheric CO 2 levels, since countries may choose to account for forest management activities to fulfil their commitments under the Kyoto Protocol. However, the effectiveness of such efforts may depend on the forest management strategies applied. This thesis is based on four separate studies in which the potential for forest management strategies to decrease net CO 2 emissions was considered. Long-term field experiments and models were used to: evaluate the impact of different thinning regimes; study broad-leaved stands growing on abandoned farmland with different rotation lengths; predict the effects of using different rotation lengths on carbon accumulation and fossil fuel substitution; and perform an integrated analysis of forest management practices and the potential to substitute fossil fuels by wood products. To evaluate the effects of the management regimes considered, carbon stocks in the investigated stands and the potential of the resulting biomass to substitute fossil fuel were estimated. No significant differences were found in biomass production between the thinning regimes for Norway spruce (Picea abies (L.) Karst.) stands, but the standing biomass was significantly larger in unthinned stands, indicating that to maximize the carbon stock in tree biomass thinnings should be avoided. For Scots pine (Pinus sylvestris L.), thinned and fertilized stands produced significantly more biomass (2.60-2.72 ton d.w./ha/yr) than unthinned and unfertilized stands (2.17-2.34 ton d.w./ha/yr) in the northern regions. These findings indicate that fertilization might be a viable measure to increase production of biomass with the potential to replace fossil fuel and energy-intensive material. In addition, for broad-leaved trees stands on abandoned farmland, management regimes with a short rotation were found to be better for maximizing the substitution of fossil fuel than regimes with a long rotation

  20. Quantum net dynamics

    International Nuclear Information System (INIS)

    Finkelstein, D.

    1989-01-01

    The quantum net unifies the basic principles of quantum theory and relativity in a quantum spacetime having no ultraviolet infinities, supporting the Dirac equation, and having the usual vacuum as a quantum condensation. A correspondence principle connects nets to Schwinger sources and further unifies the vertical structure of the theory, so that the functions of the many hierarchic levels of quantum field theory (predicate algebra, set theory, topology,hor-ellipsis, quantum dynamics) are served by one in quantum net dynamics

  1. 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.

  2. Programming NET Web Services

    CERN Document Server

    Ferrara, Alex

    2007-01-01

    Web services are poised to become a key technology for a wide range of Internet-enabled applications, spanning everything from straight B2B systems to mobile devices and proprietary in-house software. While there are several tools and platforms that can be used for building web services, developers are finding a powerful tool in Microsoft's .NET Framework and Visual Studio .NET. Designed from scratch to support the development of web services, the .NET Framework simplifies the process--programmers find that tasks that took an hour using the SOAP Toolkit take just minutes. Programming .NET

  3. Game Coloured Petri Nets

    DEFF Research Database (Denmark)

    Westergaard, Michael

    2006-01-01

    This paper introduces the notion of game coloured Petri nets. This allows the modeler to explicitly model what parts of the model comprise the modeled system and what parts are the environment of the modeled system. We give the formal definition of game coloured Petri nets, a means of reachability...... analysis of this net class, and an application of game coloured Petri nets to automatically generate easy-to-understand visualizations of the model by exploiting the knowledge that some parts of the model are not interesting from a visualization perspective (i.e. they are part of the environment...

  4. Spatial–Temporal Analysis of the Heat and Electricity Demand of the Swiss Building Stock

    Directory of Open Access Journals (Sweden)

    Stefan Schneider

    2017-08-01

    Full Text Available In 2015, space heating and domestic hot water production accounted for around 40% of the Swiss final energy consumption. Reaching the goals of the 2050 energy strategy will require significantly reducing this share despite the growing building stock. Renewables are numerous but subject to spatial–temporal constraints. Territorial planning of energy distribution systems enabling the integration of renewables requires having a spatial–temporal characterization of the energy demand. This paper presents two bottom-up statistical extrapolation models for the estimation of the geo-dependent heat and electricity demand of the Swiss building stock. The heat demand is estimated by means of a statistical bottom-up model applied at the building level. At the municipality level, the electricity load curve is estimated by combining socio-economic indicators with average consumption per activity and/or electric device. This approach also allows to break down the estimated electricity demand according to activity type (e.g., households, various industry, and service activities and appliance type (e.g., lighting, motor force, fridges. The total estimated aggregated demand is 94 TWh for heat and 58 TWh for electricity, which represent a deviation of 2.9 and 0.5%, respectively compared to the national energy consumption statistics. In addition, comparisons between estimated and measured electric load curves are done to validate the proposed approach. Finally, these models are used to build a geo-referred database of heat and electricity demand for the entire Swiss territory. As an application of the heat demand model, a realistic saving potential is estimated for the existing building stock; this potential could be achieved through by a deep retrofit program. One advantage of the statistical bottom-up model approach is that it allows to simulate a building stock that replicates the diversity of building demand. This point is important in order to

  5. Coloured Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt

    1991-01-01

    This paper describes how Coloured Petri Nets (CP-nets) have been developed — from being a promising theoretical model to being a full-fledged language for the design, specification, simulation, validation and implementation of large software systems (and other systems in which human beings and...

  6. Net zero water

    CSIR Research Space (South Africa)

    Lindeque, M

    2013-01-01

    Full Text Available the national grid. The unfortunate situation with water is that there is no replacement technology for water. Water can be supplied from many different sources. A net zero energy development will move closer to a net zero water development by reducing...

  7. Construction of monophase nets

    International Nuclear Information System (INIS)

    Suarez A, Jose Antonio

    1996-01-01

    The paper refers to the use of monophase loads in commercial residential urbanizations and in small industries, for this reason it is considered unnecessary the construction of three-phase nets. The author makes a historical recount of these nets in Bogota, his capacities, uses and energy savings

  8. Global Concept of Financial Institutional Transformation of Stock Exchange

    Directory of Open Access Journals (Sweden)

    Burmaka Mykola

    2017-12-01

    Full Text Available The article is about the research of processes of global transformation of stock exchanges through the mechanisms of internationalization, corporate and network consolidation, and technology. Objective processes of internationalization in stock markets affected by financial globalization and arising global information resources create new challenges for stock exchanges that can be overcome by adequate development strategies. The growing competition between stock exchanges and new capital institutes requires stock exchanges to use modern exchange technologies, primarily innovative, in order to maintain liquidity and increase investment attractiveness. Have been analysed the newest tendencies and determinants of modern global financial institutional architecture construction, the leading role in which are starting to play new stock exchanges and stalk exchange platforms, formed in growing financial centres of the world. Have been identified he main components of international stock market restructurization in the process of financial globalization, one of the attributes of which turned out to be a certain fragmentation of markets and their universalization. Through the example of US and EU financial market modernization processes of the last decade have been analysed financial and legal mechanisms of the national and regional levels, which are designed to ensure sustainable development of the global economy at the postcrisis stage. Have been diagnosed international activity of stock exchanges through the quantity indexed of foreign companies in listing, volume of trade with foreign financial instruments, and participation of foreign investors in exchange trade. Have been offered and calculated indices of internationalization of the world’s leading stock market. Have been analysed consolidation processes of the leading stock exchanges and new electronic trading systems at the regional, meso-global and global levels, which resulted in formation of

  9. Fusion through the NET

    International Nuclear Information System (INIS)

    Spears, B.

    1987-01-01

    The paper concerns the next generation of fusion machines which are intended to demonstrate the technical viability of fusion. In Europe, the device that will follow on from JET is known as NET - the Next European Torus. If the design programme for NET proceeds, Europe could start to build the machine in 1994. The present JET programme hopes to achieve breakeven in the early 1990's. NET hopes to reach ignition in the next century, and so lay the foundation for a demonstration reactor. A description is given of the technical specifications of the components of NET, including: the first wall, the divertors to protect the wall, the array of magnets that provide the fields containing the plasma, the superconducting magnets, and the shield of the machine. NET's research programme is briefly outlined, including the testing programme to optimise conditions in the machine to achieve ignition, and its safety work. (U.K.)

  10. 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...

  11. Stock Issues in Aristotle's Rhetoric

    Science.gov (United States)

    Harpine, Bill

    1977-01-01

    Defines "stock issue" by the manner in which they function in Aristotle's theory, reviews examples of modern theories of stock issues, examines previous investigations of the "Rhetoric," and analyzes Aristotle's approach to this aspect of argumentation. (MH)

  12. 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 signi...

  13. Optimizing Plutonium stock management

    International Nuclear Information System (INIS)

    Niquil, Y.; Guillot, J.

    1997-01-01

    Plutonium from spent fuel reprocessing is reused in new MOX assemblies. Since plutonium isotopic composition deteriorates with time, it is necessary to optimize plutonium stock management over a long period, to guarantee safe procurement, and contribute to a nuclear fuel cycle policy at the lowest cost. This optimization is provided by the prototype software POMAR

  14. 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…

  15. Stock Selection, Style Rotation

    NARCIS (Netherlands)

    Lucas, A.; van Dijk, R.; Prof. Kloek, T.

    2002-01-01

    Using 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

  16. Thinking Aloud While Solving a Stock-Flow Task: Surfacing the Correlation Heuristic and Other Reasoning Patterns

    NARCIS (Netherlands)

    Korzilius, H.P.L.M.; Raaijmakers, S.F.J.M.; Rouwette, E.A.J.A.; Vennix, J.A.M.

    2014-01-01

    In the literature, it is assumed that individuals, while performing stock-flow tasks, often use a correlation heuristic, a form of pattern matching in which they think that the behavior of the stock resembles the (net) flow. To investigate this assumption and to increase our insight in the actual

  17. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

    Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

  18. Perbandingan Stock Market Crash 1987 : Dan Stock Market Crash 1997

    OpenAIRE

    Indridewi Atmadjaja, Yovita Vivianty

    1999-01-01

    Stock market crash refers to the condition, which is marked with the large dropping of stock Market price index. Historically, stock market crash has happened three times, namely in 1929, 1987 and 1997. This paper will discuss the causes of 1987's and 1997's stock market Crash and the similarities and the differences between 1987's and 1997's stock market crash. The structure of the paper is as follows. The paper starts with the introduction. The second Section briefly explains the causes of ...

  19. 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.

  20. The role of composition, invasives, and maintenance emissions on urban forest carbon stocks.

    Science.gov (United States)

    Horn, Josh; Escobedo, Francisco J; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

    2015-02-01

    There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20% of all the trees measured; 60% of carbon stocks and over 75% of net C sequestration. Palms contributed to less than 1% of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90% of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1% of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

  1. Net Zero Energy Buildings

    DEFF Research Database (Denmark)

    Marszal, Anna Joanna; Bourrelle, Julien S.; Gustavsen, Arild

    2010-01-01

    and identify possible renewable energy supply options which may be considered in calculations. Finally, the gap between the methodology proposed by each organisation and their respective national building code is assessed; providing an overview of the possible changes building codes will need to undergo......The international cooperation project IEA SHC Task 40 / ECBCS Annex 52 “Towards Net Zero Energy Solar Buildings”, attempts to develop a common understanding and to set up the basis for an international definition framework of Net Zero Energy Buildings (Net ZEBs). The understanding of such buildings...

  2. Getting to Net Zero

    Energy Technology Data Exchange (ETDEWEB)

    2016-09-01

    The technology necessary to build net zero energy buildings (NZEBs) is ready and available today, however, building to net zero energy performance levels can be challenging. Energy efficiency measures, onsite energy generation resources, load matching and grid interaction, climatic factors, and local policies vary from location to location and require unique methods of constructing NZEBs. It is recommended that Components start looking into how to construct and operate NZEBs now as there is a learning curve to net zero construction and FY 2020 is just around the corner.

  3. Pro NET Best Practices

    CERN Document Server

    Ritchie, Stephen D

    2011-01-01

    Pro .NET Best Practices is a practical reference to the best practices that you can apply to your .NET projects today. You will learn standards, techniques, and conventions that are sharply focused, realistic and helpful for achieving results, steering clear of unproven, idealistic, and impractical recommendations. Pro .NET Best Practices covers a broad range of practices and principles that development experts agree are the right ways to develop software, which includes continuous integration, automated testing, automated deployment, and code analysis. Whether the solution is from a free and

  4. Wood and understory production under a range of ponderosa pine stocking levels, Black Hills, South Dakota

    Science.gov (United States)

    Daniel W. Uresk; Carleton B. Edminster; Kieth E. Severson

    2000-01-01

    Stemwood and understory production (kg ha-1) were estimated during 3 nonconsecutive years on 5 growing stock levels of ponderosa pine including clearcuts and unthinned stands. Stemwood production was consistently greater at mid- and higher pine stocking levels, and understory production was greater in stands with less pine; however, there were no...

  5. PhysioNet

    Data.gov (United States)

    U.S. Department of Health & Human Services — The PhysioNet Resource is intended to stimulate current research and new investigations in the study of complex biomedical and physiologic signals. It offers free...

  6. NetSig

    DEFF Research Database (Denmark)

    Horn, Heiko; Lawrence, Michael S; Chouinard, Candace R

    2018-01-01

    Methods that integrate molecular network information and tumor genome data could complement gene-based statistical tests to identify likely new cancer genes; but such approaches are challenging to validate at scale, and their predictive value remains unclear. We developed a robust statistic (Net......Sig) that integrates protein interaction networks with data from 4,742 tumor exomes. NetSig can accurately classify known driver genes in 60% of tested tumor types and predicts 62 new driver candidates. Using a quantitative experimental framework to determine in vivo tumorigenic potential in mice, we found that Net......Sig candidates induce tumors at rates that are comparable to those of known oncogenes and are ten-fold higher than those of random genes. By reanalyzing nine tumor-inducing NetSig candidates in 242 patients with oncogene-negative lung adenocarcinomas, we find that two (AKT2 and TFDP2) are significantly amplified...

  7. Blanket testing in NET

    International Nuclear Information System (INIS)

    Chazalon, M.; Daenner, W.; Libin, B.

    1989-01-01

    The testing stages in NET for the performance assessment of the various breeding blanket concepts developed at the present time in Europe for DEMO (LiPb and ceramic blankets) and the requirements upon NET to perform these tests are reviewed. Typical locations available in NET for blanket testing are the central outboard segments and the horizontal ports of in-vessel sectors. These test positions will be connectable with external test loops. The number of test loops (helium, water, liquid metal) will be such that each major class of blankets can be tested in NET. The test positions, the boundary conditions and the external test loops are identified and the requirements for test blankets are summarized (author). 6

  8. Programming NET 35

    CERN Document Server

    Liberty, Jesse

    2009-01-01

    Bestselling author Jesse Liberty and industry expert Alex Horovitz uncover the common threads that unite the .NET 3.5 technologies, so you can benefit from the best practices and architectural patterns baked into the new Microsoft frameworks. The book offers a Grand Tour" of .NET 3.5 that describes how the principal technologies can be used together, with Ajax, to build modern n-tier and service-oriented applications. "

  9. NET SALARY ADJUSTMENT

    CERN Multimedia

    Finance Division

    2001-01-01

    On 15 June 2001 the Council approved the correction of the discrepancy identified in the net salary adjustment implemented on 1st January 2001 by retroactively increasing the scale of basic salaries to achieve the 2.8% average net salary adjustment approved in December 2000. We should like to inform you that the corresponding adjustment will be made to your July salary. Full details of the retroactive adjustments will consequently be shown on your pay slip.

  10. Minimizing waste (off-cuts using cutting stock model: The case of one dimensional cutting stock problem in wood working industry

    Directory of Open Access Journals (Sweden)

    Gbemileke A. Ogunranti

    2016-09-01

    Full Text Available Purpose: The main objective of this study is to develop a model for solving the one dimensional cutting stock problem in the wood working industry, and develop a program for its implementation. Design/methodology/approach: This study adopts the pattern oriented approach in the formulation of the cutting stock model. A pattern generation algorithm was developed and coded using Visual basic.NET language. The cutting stock model developed is a Linear Programming (LP Model constrained by numerous feasible patterns. A LP solver was integrated with the pattern generation algorithm program to develop a one - dimensional cutting stock model application named GB Cutting Stock Program. Findings and Originality/value: Applying the model to a real life optimization problem significantly reduces material waste (off-cuts and minimizes the total stock used. The result yielded about 30.7% cost savings for company-I when the total stock materials used is compared with the former cutting plan. Also, to evaluate the efficiency of the application, Case I problem was solved using two top commercial 1D-cutting stock software.  The results show that the GB program performs better when related results were compared. Research limitations/implications: This study round up the linear programming solution for the number of pattern to cut. Practical implications: From Managerial perspective, implementing optimized cutting plans increases productivity by eliminating calculating errors and drastically reducing operator mistakes. Also, financial benefits that can annually amount to millions in cost savings can be achieved through significant material waste reduction. Originality/value: This paper developed a linear programming one dimensional cutting stock model based on a pattern generation algorithm to minimize waste in the wood working industry. To implement the model, the algorithm was coded using VisualBasic.net and linear programming solver called lpsolvedll (dynamic

  11. Outlook '98 - Stock markets

    International Nuclear Information System (INIS)

    Vankka, D.

    1998-01-01

    In view of the recent drop of some 20 per cent in energy stock prices, and the decline in the value of the Canadian dollar, forecasting oilpatch financing in 1998 is a risky undertaking. Based on a variety of relevant factors, it is expected that there will be a slowdown in oil and gas financing deals in the short term. On the other hand, longer term outlook is bullish, based on the huge capital requirements over the next few years for conventional projects, heavy oil, oilsands and pipelines projects. Corporate mergers and acquisitions will continue at about the same rate as in 1997, as companies attempt to achieve ''economies of scale'' and growth in the most economically sensible manner. Adding production and reserves through corporate transactions at the current lower stock prices will be a powerful incentive. Creative deal structuring will become more prevalent. Corporate reorganizations into separate companies in search of value maximization will increase

  12. NETS - Danish participation. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Alsen, S. (Grontmij - Carl Bro, Glostrup (Denmark)); Theel, C. (Baltic Sea Solutions, Holeby (Denmark))

    2008-12-15

    Within the NICe-funded project 'Nordic Environmental Technology Solutions (NETS)' a new type of networking at the Nordic level was organized in order to jointly exploit the rapidly growing market potential in the environmental technology sector. The project aimed at increased and professionalized commercialization of Nordic Cleantech in energy and water business segments through 1) closer cooperation and joint marketing activities, 2) a website, 3) cleantech product information via brochures and publications 4) and participating in relevant trade fairs and other industry events. Facilitating business-to-business activities was another core task for the NETS project partners from Norway, Sweden, Finland and Denmark with the aim to encourage total solutions for combined Cleantech system offers. The project has achieved to establish a Cleantech register of 600 Nordic Cleantech companies, a network of 86 member enterprises, produced several publications and brochures for direct technology promotion and a website for direct access to company profiles and contact data. The project partners have attended 14 relevant international Cleantech trade fairs and conferences and facilitated business-to-business contacts added by capacity building offers through two company workshops. The future challenge for the project partners and Nordic Cleantech will be to coordinate the numerous efforts within the Nordic countries in order to reach concerted action and binding of member companies for reliable services, an improved visibility and knowledge exchange. With Cleantech's growing market influence and public awareness, the need to develop total solutions is increasing likewise. Marketing efforts should be encouraged cross-sectional and cross-border among the various levels of involved actors from both the public and the private sector. (au)

  13. NETS - Danish participation. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Alsen, S [Grontmij - Carl Bro, Glostrup (Denmark); Theel, C [Baltic Sea Solutions, Holeby (Denmark)

    2008-12-15

    Within the NICe-funded project 'Nordic Environmental Technology Solutions (NETS)' a new type of networking at the Nordic level was organized in order to jointly exploit the rapidly growing market potential in the environmental technology sector. The project aimed at increased and professionalized commercialization of Nordic Cleantech in energy and water business segments through 1) closer cooperation and joint marketing activities, 2) a website, 3) cleantech product information via brochures and publications 4) and participating in relevant trade fairs and other industry events. Facilitating business-to-business activities was another core task for the NETS project partners from Norway, Sweden, Finland and Denmark with the aim to encourage total solutions for combined Cleantech system offers. The project has achieved to establish a Cleantech register of 600 Nordic Cleantech companies, a network of 86 member enterprises, produced several publications and brochures for direct technology promotion and a website for direct access to company profiles and contact data. The project partners have attended 14 relevant international Cleantech trade fairs and conferences and facilitated business-to-business contacts added by capacity building offers through two company workshops. The future challenge for the project partners and Nordic Cleantech will be to coordinate the numerous efforts within the Nordic countries in order to reach concerted action and binding of member companies for reliable services, an improved visibility and knowledge exchange. With Cleantech's growing market influence and public awareness, the need to develop total solutions is increasing likewise. Marketing efforts should be encouraged cross-sectional and cross-border among the various levels of involved actors from both the public and the private sector. (au)

  14. China's stock market integration with a leading power and a close neighbor

    OpenAIRE

    Yi, Zheng; Heng, Chen; Wong, Wing-keung

    2009-01-01

    Current integration and co-movement among international stock markets has been boosted by increased globalization of the world economy, and profit-chasing capital surfing across borders. With a reputation as the fastest growing economy in the world, China's stock market has continued gaining momentum during recent years and incurred growing attention from academicians, as well as practitioners. Taking into account economic and geographical considerations, the US and Hong Kong are considerably...

  15. Growing Safflower in Utah

    OpenAIRE

    Pace, M. G.; Israelsen, C. E.; Creech, E.; Allen, N.

    2015-01-01

    This fact sheet provides information on growing safflower in Utah. It has become popular on dryland farms in rotation with winter wheat. Safflower seed provides three products, oil, meal, and birdseed.

  16. Biological Petri Nets

    CERN Document Server

    Wingender, E

    2011-01-01

    It was suggested some years ago that Petri nets might be well suited to modeling metabolic networks, overcoming some of the limitations encountered by the use of systems employing ODEs (ordinary differential equations). Much work has been done since then which confirms this and demonstrates the usefulness of this concept for systems biology. Petri net technology is not only intuitively understood by scientists trained in the life sciences, it also has a robust mathematical foundation and provides the required degree of flexibility. As a result it appears to be a very promising approach to mode

  17. Reconfiguration of distribution nets

    International Nuclear Information System (INIS)

    Latorre Bayona, Gerardo; Angarita Marquez, Jorge Luis

    2000-01-01

    Starting of the location of the reconfiguration problem inside the context of the operation of distribution nets, of the quality indicators definition and of the presentation of the alternatives more used for reduction of technical losses, they are related diverse reconfiguration methodologies proposed in the technical literature, pointing out their three principals limitations; also are presents the results of lost obtained starting from simulation works carried out in distribution circuits of the ESSA ESP, which permitting to postulate the reconfiguration of nets like an excellent alternative to reduce technical losses

  18. NET system integration

    International Nuclear Information System (INIS)

    Farfaletti-Casali, F.; Mitchell, N.; Salpietro, E.; Buzzi, U.; Gritzmann, P.

    1985-01-01

    The NET system integration procedure is the process by which the requirements of the various Tokamak machine design areas are brought together to form a compatible machine layout. Each design area produces requirements which generally allow components to be built at minimum cost and operate with minimum technical risk, and the final machine assembly should be achieved with minimum departure from these optimum designs. This is carried out in NET by allowing flexibility in the maintenance and access methods to the machine internal components which must be regularly replaced by remote handling, in segmentation of these internal components and in the number of toroidal field coils

  19. Company Stock in Pension Funds

    OpenAIRE

    Even, William E.; Macpherson, David

    2004-01-01

    This study examines several issues surrounding the tendency for some pension funds to invest in their own company’s stock. After reviewing the existing literature describing the benefits and costs of investing in company stock, the legislative environment surrounding company stock holdings is reviewed. Using data from Internal Revenue Service Form 5500 filings on the pension fund holdings of over 300,000 defined–contribution pension plans in the 1990s, we show that about one out of ten define...

  20. A causality between fund performance and stock market

    Science.gov (United States)

    Kim, Ho-Yong; Kwon, Okyu; Oh, Gabjin

    2016-02-01

    We investigate whether the characteristic fund performance indicators (FPI), such as the fund return, the Net asset value (NAV) and the cash flow, are correlated with the asset price movement using information flows estimated by the Granger causality test. First, we find that the information flow of FPI is most sensitive to extreme events of the Korean stock market, which include negative events such as the sub-prime crisis and the impact of QE (quantitative easing) by the US subprime and Europe financial crisis as well as the positive events of the golden period of Korean Composite Stock Price Index (KOSPI), except for the fund cash flow. Second, both the fund return and the NAV exhibit significant correlations with the KOSPI, whereas the cash flow is not correlated with the stock market. This result suggests that the information resulting from the ability of the fund manager should influence stock market. Finally, during market crisis period, information flows between FPI and the Korean stock market are significantly positively correlated with the market volatility.

  1. Cluster fusion-fission dynamics in the Singapore stock exchange

    Science.gov (United States)

    Teh, Boon Kin; Cheong, Siew Ann

    2015-10-01

    In this paper, we investigate how the cross-correlations between stocks in the Singapore stock exchange (SGX) evolve over 2008 and 2009 within overlapping one-month time windows. In particular, we examine how these cross-correlations change before, during, and after the Sep-Oct 2008 Lehman Brothers Crisis. To do this, we extend the complete-linkage hierarchical clustering algorithm, to obtain robust clusters of stocks with stronger intracluster correlations, and weaker intercluster correlations. After we identify the robust clusters in all time windows, we visualize how these change in the form of a fusion-fission diagram. Such a diagram depicts graphically how the cluster sizes evolve, the exchange of stocks between clusters, as well as how strongly the clusters mix. From the fusion-fission diagram, we see a giant cluster growing and disintegrating in the SGX, up till the Lehman Brothers Crisis in September 2008 and the market crashes of October 2008. After the Lehman Brothers Crisis, clusters in the SGX remain small for few months before giant clusters emerge once again. In the aftermath of the crisis, we also find strong mixing of component stocks between clusters. As a result, the correlation between initially strongly-correlated pairs of stocks decay exponentially with average life time of about a month. These observations impact strongly how portfolios and trading strategies should be formulated.

  2. Estimating uncertainty of data limited stock assessments

    DEFF Research Database (Denmark)

    Kokkalis, Alexandros; Eikeset, Anne Maria; Thygesen, Uffe Høgsbro

    2017-01-01

    -limited. Particular emphasis is put on providing uncertainty estimates of the data-limited assessment. We assess four cod stocks in the North-East Atlantic and compare our estimates of stock status (F/Fmsy) with the official assessments. The estimated stock status of all four cod stocks followed the established stock...

  3. Coloured Petri Nets

    CERN Document Server

    Jensen, Kurt

    2009-01-01

    Coloured Petri Nets (CPN) is a graphical language for modelling and validating concurrent and distributed systems, and other systems in which concurrency plays a major role. This book introduces the constructs of the CPN modelling language and presents the related analysis methods. It provides a comprehensive road map for the practical use of CPN.

  4. Safety nets or straitjackets?

    DEFF Research Database (Denmark)

    Ilsøe, Anna

    2012-01-01

    Does regulation of working hours at national and sector level impose straitjackets, or offer safety nets to employees seeking working time flexibility? This article compares legislation and collective agreements in the metal industries of Denmark, Germany and the USA. The industry has historically...

  5. Neuronal nets in robotics

    International Nuclear Information System (INIS)

    Jimenez Sanchez, Raul

    1999-01-01

    The paper gives a generic idea of the solutions that the neuronal nets contribute to the robotics. The advantages and the inconveniences are exposed that have regarding the conventional techniques. It also describe the more excellent applications as the pursuit of trajectories, the positioning based on images, the force control or of the mobile robots management, among others

  6. Net4Care platform

    DEFF Research Database (Denmark)

    2012-01-01

    , that in turn enables general practitioners and clinical staff to view observations. Use the menus above to explore the site's information resources. To get started, follow the short Hello, World! tutorial. The Net4Care project is funded by The Central Denmark Region and EU via Caretech Innovation....

  7. Coloured Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt; Kristensen, Lars Michael

    Coloured Petri Nets (CPN) is a graphical language for modelling and validating concurrent and distributed systems, and other systems in which concurrency plays a major role. The development of such systems is particularly challenging because of inherent intricacies like possible nondeterminism an...

  8. Game Theory .net.

    Science.gov (United States)

    Shor, Mikhael

    2003-01-01

    States making game theory relevant and accessible to students is challenging. Describes the primary goal of GameTheory.net is to provide interactive teaching tools. Indicates the site strives to unite educators from economics, political and computer science, and ecology by providing a repository of lecture notes and tests for courses using…

  9. BacillusRegNet

    DEFF Research Database (Denmark)

    Misirli, Goksel; Hallinan, Jennifer; Röttger, Richard

    2014-01-01

    As high-throughput technologies become cheaper and easier to use, raw sequence data and corresponding annotations for many organisms are becoming available. However, sequence data alone is not sufficient to explain the biological behaviour of organisms, which arises largely from complex molecular...... the associated BacillusRegNet website (http://bacillus.ncl.ac.uk)....

  10. Boom Booom Net Radio

    DEFF Research Database (Denmark)

    Grimshaw, Mark Nicholas; Yong, Louisa; Dobie, Ian

    1999-01-01

    of an existing Internet radio station; Boom Booom Net Radio. Whilst necessity dictates some use of technology-related terminology, wherever possible we have endeavoured to keep such jargon to a minimum and to either explain it in the text or to provide further explanation in the appended glossary....

  11. Growing old graciously.

    Science.gov (United States)

    2006-01-01

    Manthorpe describes a nursing home for people with dementia in the Netherlands. With 120 beds it is large but splitting it into six-bed wings, each with separate sitting room, bathroom and kitchen, means that it still feels homely. The heart of the home is a central courtyard that has the feel of a market place in a small village. There is a large café bar in which residents, families and local residents can mingle. Crucially, there is also a small but well-stocked supermarket. There is no central provision of meals - staff cook with the residents. Residents can make a leisurely visit to the supermarket with staff. Preparing for and cleaning up after the meal becomes a framework for the day providing a normalising rhythm and purposeful activity.

  12. Carbon stocks and flux in French forests

    International Nuclear Information System (INIS)

    Dupouey, Jean-Luc; Pignard, Gerome; Badeau, Vincent; Thimonier, A.; Dhote, Jean-Francois; Nepveu, G.; Berges, L.; Augusto, L.; Belkacem, S.; Nys, C.

    2000-01-01

    Forests contain most of the carbon stored in the earth's biomass (81 %) and could play a role in CO 2 mitigation to a certain extent. We estimate French forest carbon stocks in biomass to be 860 MtC on 14.5 million hectares of forests, and 1,140 MtC in forest soils. Total carbon in the 14.5 million hectares of French forests is estimated at 2,000 MtC. Average annual flux for the 1979/91 period is 10.5 MtC/y, i.e. 10 % of national fossil fuel emissions. The main causes of this net carbon uptake are the rapid increase of forest area, increasing productivity due to environmental changes, ageing or, in some localized areas, more intensive silviculture practices. These carbon sinks are not offset by the harvesting level which remains low on average (61 % of the annual volume growth). Forestry carbon mitigation options applicable in France are discussed. The need for global economic and ecological budgets (including carbon stocks, soil fertility and biodiversity) of the possible alternatives is stressed. (authors)

  13. Numerical study on the hydrodynamic characteristics of biofouled full-scale net cage

    Science.gov (United States)

    Bi, Chun-wei; Zhao, Yun-peng; Dong, Guo-hai

    2015-06-01

    The effect of biofouling on the hydrodynamic characteristics of the net cage is of particular interest as biofouled nettings can significantly reduce flow of well-oxygenated water reaching the stocked fish. For computational efficiency, the porous-media fluid model is proposed to simulate flow through the biofouled plane net and full-scale net cage. The porous coefficients of the porous-media fluid model can be determined from the quadratic-function relationship between the hydrodynamic forces on a plane net and the flow velocity using the least squares method. In this study, drag forces on and flow fields around five plane nets with different levels of biofouling are calculated by use of the proposed model. The numerical results are compared with the experimental data of Swift et al. (2006) and the effectiveness of the numerical model is presented. On that basis, flow through full-scale net cages with the same level of biofouling as the tested plane nets are modeled. The flow fields inside and around biofouled net cages are analyzed and the drag force acting on a net cage is estimated by a control volume analysis method. According to the numerical results, empirical formulas of reduction in flow velocity and load on a net cage are derived as function of drag coefficient of the corresponding biofouled netting.

  14. Growing Plants and Minds

    Science.gov (United States)

    Presser, Ashley Lewis; Kamdar, Danae; Vidiksis, Regan; Goldstein, Marion; Dominguez, Ximena; Orr, Jillian

    2017-01-01

    Many preschool classrooms explore plant growth. However, because many plants take a long time to grow, it is often hard to facilitate engagement in some practices (i.e., since change is typically not observable from one day to another, children often forget their prior predictions or cannot recall what plants looked like days or weeks earlier).…

  15. Growing Backyard Textiles

    Science.gov (United States)

    Nelson, Eleanor Hall

    1975-01-01

    For those involved in creative work with textiles, the degree of control possible in texture, finish, and color of fiber by growing and processing one's own (perhaps with students' help) can make the experience rewarding. The author describes the processes for flax and nettles and gives tips on necessary equipment. (Author/AJ)

  16. Modelling energy demand in the Norwegian building stock

    Energy Technology Data Exchange (ETDEWEB)

    Sartori, Igor

    2008-07-15

    Energy demand in the building stock in Norway represents about 40% of the final energy consumption, of which 22% goes to the residential sector and 18% to the service sector. In Norway there is a strong dependency on electricity for heating purposes, with electricity covering about 80% of the energy demand in buildings. The building sector can play an important role in the achievement of a more sustainable energy system. The work performed in the articles presented in this thesis investigates various aspects related to the energy demand in the building sector, both in singular cases and in the stock as a whole. The work performed in the first part of this thesis on development and survey of case studies provided background knowledge that was then used in the second part, on modelling the entire stock. In the first part, a literature survey of case studies showed that, in a life cycle perspective, the energy used in the operating phase of buildings is the single most important factor. Design of low-energy buildings is then beneficial and should be pursued, even though it implies a somewhat higher embodied energy. A case study was performed on a school building. First, a methodology using a Monte Carlo method in the calibration process was explored. Then, the calibrated model of the school was used to investigate measures for the achievement of high energy efficiency standard through renovation work. In the second part, a model was developed to study the energy demand in a scenario analysis. The results showed the robustness of policies that included conservation measures against the conflicting effects of the other policies. Adopting conservation measures on a large scale showed the potential to reduce both electricity and total energy demand from present day levels while the building stock keeps growing. The results also highlighted the inertia to change of the building stock, due to low activity levels compared to the stock size. It also became clear that a deeper

  17. SolNet

    DEFF Research Database (Denmark)

    Jordan, Ulrike; Vajen, Klaus; Bales, Chris

    2014-01-01

    -accompanying Master courses, placements of internships, and PhD scholarship projects. A new scholarship project, “SHINE”, was launched in autumn 2013 in the frame work of the Marie Curie program of the European Union (Initial Training Network, ITN). 13 PhD-scholarships on solar district heating, solar heat......SolNet, founded in 2006, is the first coordinated International PhD education program on Solar Thermal Engineering. The SolNet network is coordinated by the Institute of Thermal Engineering at Kassel University, Germany. The network offers PhD courses on solar heating and cooling, conference...... for industrial processes, as well as sorption stores and materials started in December 2013. Additionally, the project comprises a training program with five PhD courses and several workshops on solar thermal engineering that will be open also for other PhD students working in the field. The research projects...

  18. 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...

  19. Essays on Stock Issuance

    DEFF Research Database (Denmark)

    Kohl, Niklas

    Firms which issue new equity subsequently have lower returns than other firms, but does the strength of the issuance effect vary in the cross section of firms? The essay shows, that US firms with characteristics that makes them “hard to value” have returns which are strongly related to their past...... issuance activity, while the return of “easy to value” firms are less related to their past issuance activity. In most cases the difference between “hard to value” and “easy to value” firms are signiffcant. As proxies for “hard to value”, I use three different types of firm characteristics. First, I...... consider firms for which relatively little information is available as “hard to value”. Examples are firms covered by few analysts and small firms. Second, I consider firms with high levels of analyst disagreement on stock price target, next quarter earnings per share and share recommendation as “hard...

  20. The Body Stocking

    DEFF Research Database (Denmark)

    Petersen, Louise Ravnløkke Munk; Bang, Anne Louise

    2016-01-01

    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...... 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....... In addition, it is exemplified how personal taste, preferences for aesthetics and experience of wellbeing may have an impact on high use frequency. Finally, the paper points to further elaboration by suggesting a (tentative) matrix structure to better understand the parameters in designing sustainable...

  1. 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.

  2. Turkey's net energy consumption

    International Nuclear Information System (INIS)

    Soezen, Adnan; Arcaklioglu, Erol; Oezkaymak, Mehmet

    2005-01-01

    The main goal of this study is to develop the equations for forecasting net energy consumption (NEC) using an artificial neural-network (ANN) technique in order to determine the future level of energy consumption in Turkey. In this study, two different models were used in order to train the neural network. In one of them, population, gross generation, installed capacity and years are used in the input layer of the network (Model 1). Other energy sources are used in input layer of network (Model 2). The net energy consumption is in the output layer for two models. Data from 1975 to 2003 are used for the training. Three years (1981, 1994 and 2003) are used only as test data to confirm this method. The statistical coefficients of multiple determinations (R 2 -value) for training data are equal to 0.99944 and 0.99913 for Models 1 and 2, respectively. Similarly, R 2 values for testing data are equal to 0.997386 and 0.999558 for Models 1 and 2, respectively. According to the results, the net energy consumption using the ANN technique has been predicted with acceptable accuracy. Apart from reducing the whole time required, with the ANN approach, it is possible to find solutions that make energy applications more viable and thus more attractive to potential users. It is also expected that this study will be helpful in developing highly applicable energy policies

  3. 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.

  4. How to Grow Old

    Institute of Scientific and Technical Information of China (English)

    Bertrand Russell

    2008-01-01

    <正>1. In spite of the title, this article will really be on how not to grow old, which, at my time of life, is a much more important subject. My first advice would be to choose your ancestors carefully. Although both my parents died young, I have done well in this respect as regards my other ancestors. My maternal grandfather, it is true, was cut off in the flower of his youth at the age of sixty-seven,

  5. Parallel Prediction of Stock Volatility

    Directory of Open Access Journals (Sweden)

    Priscilla Jenq

    2017-10-01

    Full Text Available Volatility is a measurement of the risk of financial products. A stock will hit new highs and lows over time and if these highs and lows fluctuate wildly, then it is considered a high volatile stock. Such a stock is considered riskier than a stock whose volatility is low. Although highly volatile stocks are riskier, the returns that they generate for investors can be quite high. Of course, with a riskier stock also comes the chance of losing money and yielding negative returns. In this project, we will use historic stock data to help us forecast volatility. Since the financial industry usually uses S&P 500 as the indicator of the market, we will use S&P 500 as a benchmark to compute the risk. We will also use artificial neural networks as a tool to predict volatilities for a specific time frame that will be set when we configure this neural network. There have been reports that neural networks with different numbers of layers and different numbers of hidden nodes may generate varying results. In fact, we may be able to find the best configuration of a neural network to compute volatilities. We will implement this system using the parallel approach. The system can be used as a tool for investors to allocating and hedging assets.

  6. Net one, net two: the primary care network income statement.

    Science.gov (United States)

    Halley, M D; Little, A W

    1999-10-01

    Although hospital-owned primary care practices have been unprofitable for most hospitals, some hospitals are achieving competitive advantage and sustainable practice operations. A key to the success of some has been a net income reporting tool that separates practice operating expenses from the costs of creating and operating a network of practices to help healthcare organization managers, physicians, and staff to identify opportunities to improve the network's financial performance. This "Net One, Net Two" reporting allows operations leadership to be held accountable for Net One expenses and strategic leadership to be held accountable for Net Two expenses.

  7. Proof Nets for Lambek Calculus

    NARCIS (Netherlands)

    Roorda, Dirk

    1992-01-01

    The proof nets of linear logic are adapted to the non-commutative Lambek calculus. A different criterion for soundness of proof nets is given, which gives rise to new algorithms for proof search. The order sensitiveness of the Lambek calculus is reflected by the planarity condition on proof nets;

  8. Net metering: zero electricity bill

    International Nuclear Information System (INIS)

    Mangi, A.; Khan, Z.

    2011-01-01

    Worldwide move towards renewable energy sources, environmental concerns and decentralization of the power sector have made net metering an attractive option for power generation at small scale. This paper discusses the net metering, economical issues of renewable sources in Pakistan, technical aspects, installation suitability according to varying terrain, existing utility rules and formulation of legislation for net metering making it economically attractive. (author)

  9. The Net Advance of Physics

    Science.gov (United States)

    THE NET ADVANCE OF PHYSICS Review Articles and Tutorials in an Encyclopædic Format Established 1995 [Link to MIT] Computer support for The Net Advance of Physics is furnished by The Massachusetts Newest Additions SPECIAL FEATURES: Net Advance RETRO: Nineteenth Century Physics History of Science

  10. Northern peatland carbon stocks and dynamics: a review

    Directory of Open Access Journals (Sweden)

    Z. C. Yu

    2012-10-01

    Full Text Available Peatlands contain a large belowground carbon (C stock in the biosphere, and their dynamics have important implications for the global carbon cycle. However, there are still large uncertainties in C stock estimates and poor understanding of C dynamics across timescales. Here I review different approaches and associated uncertainties of C stock estimates in the literature, and on the basis of the literature review my best estimate of C stocks and uncertainty is 500 ± 100 (approximate range gigatons of C (Gt C in northern peatlands. The greatest source of uncertainty for all the approaches is the lack or insufficient representation of data, including depth, bulk density and carbon accumulation data, especially from the world's large peatlands. Several ways to improve estimates of peat carbon stocks are also discussed in this paper, including the estimates of C stocks by regions and further utilizations of widely available basal peat ages.

    Changes in peatland carbon stocks over time, estimated using Sphagnum (peat moss spore data and down-core peat accumulation records, show different patterns during the Holocene, and I argue that spore-based approach underestimates the abundance of peatlands in their early histories. Considering long-term peat decomposition using peat accumulation data allows estimates of net carbon sequestration rates by peatlands, or net (ecosystem carbon balance (NECB, which indicates more than half of peat carbon (> 270 Gt C was sequestrated before 7000 yr ago during the Holocene. Contemporary carbon flux studies at 5 peatland sites show much larger NECB during the last decade (32 ± 7.8 (S.E. g C m−2 yr–1 than during the last 7000 yr (∼ 11 g C m−2 yr–1, as modeled from peat records across northern peatlands. This discrepancy highlights the urgent need for carbon accumulation data and process understanding, especially at decadal and centennial timescales

  11. Decadal change of forest biomass carbon stocks and tree demography in the Delaware River Basin

    Science.gov (United States)

    Bing Xu; Yude Pan; Alain F. Plante; Arthur Johnson; Jason Cole; Richard Birdsey

    2016-01-01

    Quantifying forest biomass carbon (C) stock change is important for understanding forest dynamics and their feedbacks with climate change. Forests in the northeastern U.S. have been a net carbon sink in recent decades, but C accumulation in some northern hardwood forests has been halted due to the impact of emerging stresses such as invasive pests, land use change and...

  12. Effect of Stocking Density on Growth and Survival of African Catfish ...

    African Journals Online (AJOL)

    African catfish (Clarias gariepinus Burchell, 1882) fry were cultured at three different stocking densities in net hapas (submerged volume 0.75 m3) suspended in an outdoor concrete tank of the Aquaculture and Fisheries Department, University of Agriculture, Abeokuta, Nigeria. Catfish fry (mean weight 0.12 ± 0.10 g) were ...

  13. Do More Economists Hold Stocks?

    DEFF Research Database (Denmark)

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

    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......, 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...

  14. Horizontal ichthyoplankton tow-net system with unobstructed net opening

    Science.gov (United States)

    Nester, Robert T.

    1987-01-01

    The larval fish sampler described here consists of a modified bridle, frame, and net system with an obstruction-free net opening and is small enough for use on boats 10 m or less in length. The tow net features a square net frame attached to a 0.5-m-diameter cylinder-on-cone plankton net with a bridle designed to eliminate all obstructions forward of the net opening, significantly reducing currents and vibrations in the water directly preceding the net. This system was effective in collecting larvae representing more than 25 species of fish at sampling depths ranging from surface to 10 m and could easily be used at greater depths.

  15. STOCK Market Differences in Correlation-Based Weighted Network

    Science.gov (United States)

    Youn, Janghyuk; Lee, Junghoon; Chang, Woojin

    We examined the sector dynamics of Korean stock market in relation to the market volatility. The daily price data of 360 stocks for 5019 trading days (from January, 1990 to August, 2008) in Korean stock market are used. We performed the weighted network analysis and employed four measures: the average, the variance, the intensity, and the coherence of network weights (absolute values of stock return correlations) to investigate the network structure of Korean stock market. We performed regression analysis using the four measures in the seven major industry sectors and the market (seven sectors combined). We found that the average, the intensity, and the coherence of sector (subnetwork) weights increase as market becomes volatile. Except for the "Financials" sector, the variance of sector weights also grows as market volatility increases. Based on the four measures, we can categorize "Financials," "Information Technology" and "Industrials" sectors into one group, and "Materials" and "Consumer Discretionary" sectors into another group. We investigated the distributions of intrasector and intersector weights for each sector and found the differences in "Financials" sector are most distinct.

  16. Master Robotic Net

    Directory of Open Access Journals (Sweden)

    Vladimir Lipunov

    2010-01-01

    Full Text Available The main goal of the MASTER-Net project is to produce a unique fast sky survey with all sky observed over a single night down to a limiting magnitude of 19-20. Such a survey will make it possible to address a number of fundamental problems: search for dark energy via the discovery and photometry of supernovae (including SNIa, search for exoplanets, microlensing effects, discovery of minor bodies in the Solar System, and space-junk monitoring. All MASTER telescopes can be guided by alerts, and we plan to observe prompt optical emission from gamma-ray bursts synchronously in several filters and in several polarization planes.

  17. 78 FR 54156 - Limitations on Duplication of Net Built-in Losses

    Science.gov (United States)

    2013-09-03

    ... it is not a transfer of net built-in loss property under section 362(e)(1); that gain recognized by... transferor distributes the stock received in the transaction and, in the distribution, no gain or loss was... the transaction. 3. Securities Received Without the Recognition of Gain or Loss Section 362(e)(2) is...

  18. Limitations of shallow nets approximation.

    Science.gov (United States)

    Lin, Shao-Bo

    2017-10-01

    In this paper, we aim at analyzing the approximation abilities of shallow networks in reproducing kernel Hilbert spaces (RKHSs). We prove that there is a probability measure such that the achievable lower bound for approximating by shallow nets can be realized for all functions in balls of reproducing kernel Hilbert space with high probability, which is different with the classical minimax approximation error estimates. This result together with the existing approximation results for deep nets shows the limitations for shallow nets and provides a theoretical explanation on why deep nets perform better than shallow nets. Copyright © 2017 Elsevier Ltd. All rights reserved.

  19. ---Stock Market Devpt in Ethiopia

    African Journals Online (AJOL)

    Jetu_E_Ch

    The term stock can be defined as “the capital or principal fund raised by a corporation .... 20 Tiruneh Legesse (2012), “Establishing Financial Markets in Ethiopia: the .... improve accounting and auditing standards, provide effective tools for.

  20. Shielding calculations for NET

    International Nuclear Information System (INIS)

    Verschuur, K.A.; Hogenbirk, A.

    1991-05-01

    In the European Fusion Technology Programme there is only a small activity on research and development for fusion neutronics. Never-the-less, looking further than blanket design now, as ECN is getting involved in design of radiation shields for the coils and biological shields, it becomes apparent that fusion neutronics as a whole still needs substantial development. Existing exact codes for calculation of complex geometries like MCNP and DORT/TORT are put over the limits of their numerical capabilities, whilst approximate codes for complex geometries like FURNACE and MERCURE4 are put over the limits of their modelling capabilities. The main objective of this study is just to find out how far we can get with existing codes in obtaining reliable values for the radiation levels inside and outside the cryostat/shield during operation and after shut-down. Starting with a 1D torus model for preliminary parametric studies, more dimensional approximation of the torus or parts of it including the main heterogeneities should follow. Regular contacts with the NET-Team are kept, to be aware of main changes in NET design that might affect our calculation models. Work on the contract started 1 July 1990. The technical description of the contract is given. (author). 14 refs.; 4 figs.; 1 tab

  1. Based on BP Neural Network Stock Prediction

    Science.gov (United States)

    Liu, Xiangwei; Ma, Xin

    2012-01-01

    The stock market has a high profit and high risk features, on the stock market analysis and prediction research has been paid attention to by people. Stock price trend is a complex nonlinear function, so the price has certain predictability. This article mainly with improved BP neural network (BPNN) to set up the stock market prediction model, and…

  2. COST OF PRODUCTION, GROSS RETURN AND NET PROFIT IN COMMERCIAL EGG PRODUCTION

    Directory of Open Access Journals (Sweden)

    M. Farooq, Zahoor-ul-Haq1, M.A. Mian, F.R. Durrani and M. Syed

    2003-01-01

    Full Text Available The present study was carried out in Chakwal, Pakistan by collecting data from randomly selected 109 flocks to investigate cost of production, gross return and net profit per layer. Majority of the buildings in the study area were rented therefore, rent per layer was added to the total cost of production instead of depreciation on building and equipments. Overall total cost of production, gross return and net profit per layer was Rs. 393.88 ± 5.36, 432.14 ± 8.01 and 38.26 ± 6.66, respectively. Rate of return over the invested capital was 27%. Mean feed cost per layer was Rs. 302.23 ± 5.01, including Rs. 10.27 ± 0.24, 29.19 ± 0.42 and 262.77 ± 5.08 for starter, grower and layer ration, respectively. Feed cost was the major component contributing 76.73% to the total cost of production. Average cost of labor, day-old chick, building rent, vaccination, therapy, miscellaneous item, electricity, bedding material and transportation was Rs. 19.90 ± 0.45, 19.75 ± 0.05, 16.25 ± 0.26, 12.80 ± 0.10, 10.90 ± 2.32, 4.35 ± 0.09, 3.15 ± 0.07, 2.65 ± 0.09 and 1.90 ± 0.08, respectively, contributing 5.05, 5.01, 4.13, 3.25, 2.77, 1.10, 0.80, 0.67 and 0.48 % to the total cost of production. Gross return from the sale of marketable eggs, culled eggs, spent/culled bird, empty bags and manure was Rs. 388.84 ± 7.91, 3.85 ± 0.01, 35.80 ± 0.23, 2.20 ± 0.04 and 1.45 ± 0.01, respectively, contributing 89.98, 0.89, 8.28, 0.51 and 0.34% to the total return. Determining the effect of different parameters on the cost of production and net profit, large flocks, Hisex strain, brood-grow and lay system of rearing, good hygienic conditions of the farm, normal stocking rate and cage system of housing wee found to give maximum gross return as well as net profit.

  3. 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.

  4. Relationship Among Political Instability, Stock Market Returns and Stock Market Volatility

    Directory of Open Access Journals (Sweden)

    Irshad Hira

    2017-08-01

    Full Text Available This study investigated the relationship of political instability with the stock prices. Results of the study indicated the negative relationship of stock prices with political instability. Moreover, results of suggested that instable political system ultimately leads decline in stock prices. Inflation has shown negative relationship with stock prices whereas, industrial production and Exports have positive relationship with stock prices.

  5. Relationship Among Political Instability, Stock Market Returns and Stock Market Volatility

    OpenAIRE

    Irshad Hira

    2017-01-01

    This study investigated the relationship of political instability with the stock prices. Results of the study indicated the negative relationship of stock prices with political instability. Moreover, results of suggested that instable political system ultimately leads decline in stock prices. Inflation has shown negative relationship with stock prices whereas, industrial production and Exports have positive relationship with stock prices.

  6. Loss of protection with insecticide-treated nets against pyrethroid-resistant Culex quinquefasciatus mosquitoes once nets become holed: an experimental hut study

    Directory of Open Access Journals (Sweden)

    Irish SR

    2008-06-01

    Full Text Available Abstract Background An important advantage of pyrethroid-treated nets over untreated nets is that once nets become worn or holed a pyrethroid treatment will normally restore protection. The capacity of pyrethroids to kill or irritate any mosquito that comes into contact with the net and prevent penetration of holes or feeding through the sides are the main reasons why treated nets continue to provide protection despite their condition deteriorating over time. Pyrethroid resistance is a growing problem among Anopheline and Culicine mosquitoes in many parts of Africa. When mosquitoes become resistant the capacity of treated nets to provide protection might be diminished, particularly when holed. An experimental hut trial against pyrethroid-resistant Culex quinquefasciatus was therefore undertaken in southern Benin using a series of intact and holed nets, both untreated and treated, to assess any loss of protection as nets deteriorate with use and time. Results There was loss of protection when untreated nets became holed; the proportion of mosquitoes blood feeding increased from 36.2% when nets were intact to between 59.7% and 68.5% when nets were holed to differing extents. The proportion of mosquitoes blood feeding when treated nets were intact was 29.4% which increased to 43.6–57.4% when nets were holed. The greater the number of holes the greater the loss of protection regardless of whether nets were untreated or treated. Mosquito mortality in huts with untreated nets was 12.9–13.6%; treatment induced mortality was less than 12%. The exiting rate of mosquitoes into the verandas was higher in huts with intact nets. Conclusion As nets deteriorate with use and become increasingly holed the capacity of pyrethroid treatments to restore protection is greatly diminished against resistant Culex quinquefasciatus mosquitoes.

  7. Stock Analysis of S.C. ROPHARMA S.A. the Example of Romanian Pharmaceutical Entity

    Directory of Open Access Journals (Sweden)

    Mihaela-Cristina ONICA

    2011-11-01

    Full Text Available Stock performance analysis can not find a better place than after presentation of earnings per share, the latter being one of the indicators on the performance of companies listed on capital markets. Exchange rates are considered final term market performance of listed companies since they incorporate information concerning stock, but also financial and accounting data on the net result for the year, sales per share, dividend per share, book value per share, etc. Stock rate of action is the barometer of a company's overall performance, officially recognized by the public through the capital market. But changes in stock price is determined by the evolution of economic and financial results of the enterprise, but also investors' expectations about the possibilities of its development, progress and prospects the industry in which company operates, and national and international economic trends.

  8. Growing a market economy

    Energy Technology Data Exchange (ETDEWEB)

    Basu, N.; Pryor, R.J.

    1997-09-01

    This report presents a microsimulation model of a transition economy. Transition is defined as the process of moving from a state-enterprise economy to a market economy. The emphasis is on growing a market economy starting from basic microprinciples. The model described in this report extends and modifies the capabilities of Aspen, a new agent-based model that is being developed at Sandia National Laboratories on a massively parallel Paragon computer. Aspen is significantly different from traditional models of the economy. Aspen`s emphasis on disequilibrium growth paths, its analysis based on evolution and emergent behavior rather than on a mechanistic view of society, and its use of learning algorithms to simulate the behavior of some agents rather than an assumption of perfect rationality make this model well-suited for analyzing economic variables of interest from transition economies. Preliminary results from several runs of the model are included.

  9. The equivalency between logic Petri workflow nets and workflow nets.

    Science.gov (United States)

    Wang, Jing; Yu, ShuXia; Du, YuYue

    2015-01-01

    Logic Petri nets (LPNs) can describe and analyze batch processing functions and passing value indeterminacy in cooperative systems. Logic Petri workflow nets (LPWNs) are proposed based on LPNs in this paper. Process mining is regarded as an important bridge between modeling and analysis of data mining and business process. Workflow nets (WF-nets) are the extension to Petri nets (PNs), and have successfully been used to process mining. Some shortcomings cannot be avoided in process mining, such as duplicate tasks, invisible tasks, and the noise of logs. The online shop in electronic commerce in this paper is modeled to prove the equivalence between LPWNs and WF-nets, and advantages of LPWNs are presented.

  10. The Equivalency between Logic Petri Workflow Nets and Workflow Nets

    Science.gov (United States)

    Wang, Jing; Yu, ShuXia; Du, YuYue

    2015-01-01

    Logic Petri nets (LPNs) can describe and analyze batch processing functions and passing value indeterminacy in cooperative systems. Logic Petri workflow nets (LPWNs) are proposed based on LPNs in this paper. Process mining is regarded as an important bridge between modeling and analysis of data mining and business process. Workflow nets (WF-nets) are the extension to Petri nets (PNs), and have successfully been used to process mining. Some shortcomings cannot be avoided in process mining, such as duplicate tasks, invisible tasks, and the noise of logs. The online shop in electronic commerce in this paper is modeled to prove the equivalence between LPWNs and WF-nets, and advantages of LPWNs are presented. PMID:25821845

  11. The growing fibroadenoma

    International Nuclear Information System (INIS)

    Sanders, Linda M; Sara, Rana

    2015-01-01

    Fibroadenomas (FAs) are the most common tumors of the breast clinically and pathologically in adolescent and young women but may be discovered at any age. With increasing use of core biopsy rather than excision for diagnosis, it is now commonplace to follow these lesions with imaging. To assess the incidence of epithelial abnormalities (atypia, in situ or invasive, ductal or lobular malignancies) in FAs diagnosed by core biopsy and to re-evaluate the management paradigm for any growing FA. A retrospective review of the senior author’s pathology results over 19 years identified 2062 nodular FAs (biopsied by ultrasound or stereotactic guidance). Eighty-three core biopsied FAs were identified which subsequently enlarged. Twelve of 2062 of core biopsied nodules demonstrated atypia, in situ, or invasive malignancy (ductal or lobular) within or adjacent to the FA (0.58%). Eighty-three FAs enlarged and underwent either surgical excision (n = 65), repeat core biopsy (n = 9), or imaging follow-up (n = 9). The incidence of atypia, in situ or invasive malignancy was 0/83 (0%). Two enlarging FAs were subsequently surgically diagnosed as benign phyllodes tumors (PT). Malignancy in or adjacent to a core biopsied FA is rare. The risk of cancer in a growing FA is even rarer; none were present in our series. FAs with abnormal epithelial abnormalities require excision. Otherwise, FAs without epithelial abnormality diagnosed by core biopsy need no specific follow-up considering the negligible incidence of conversion to malignancy. The breast interventionalist must know how to manage discordant pathology results

  12. Emergence of Opinion Leaders Based on Agent Model and Its Impact to Stock Prices

    Science.gov (United States)

    Misawa, Tadanobu; Suzuki, Kyoko; Okano, Yoshitaka; Shimokawa, Tetsuya

    Recently, we can be able to get a lot of information easily because information technology has been developed. Therefore, it is thought that the impact to a society by communication of information such as word of mouth has been growing. In this paper, we propose a model of emergence of opinion leader based on word of mouth in artificial stock market. Moreover, the process of emergence of opinion leader and impact to stock prices by opinion leader are verified by simulation.

  13. The Application of Dividend Yield Based Investment Strategy in Indonesian Stock Exchange

    OpenAIRE

    Ekaputra, Adriansyah; Sukarno, Subiakto

    2012-01-01

    Stock market development in Indonesia is growing rapidly, coupled with the increase of Indonesia's investment rating by investment research and rating companies such as Moody's and S&P, it makes Indonesian stock market look sexy in the eyes of investors from various countries. The investment strategy that simple and applicable is often sought by investors to maximize the investors' portfolio. One investment strategy is evolving but still not widely used in Indonesia is an investment strat...

  14. Art/Net/Work

    DEFF Research Database (Denmark)

    Andersen, Christian Ulrik; Lindstrøm, Hanne

    2006-01-01

    The seminar Art|Net|Work deals with two important changes in our culture. On one side, the network has become essential in the latest technological development. The Internet has entered a new phase, Web 2.0, including the occurrence of as ‘Wiki’s’, ‘Peer-2-Peer’ distribution, user controlled...... on the ‘network’ itself as a phenomenon and are often using technological networks as a mean of production and distribution. This changes the artistic practice and the distribution channels of art works – and the traditional notions of ‘work’, ‘origin’ and ‘rights’ are increasingly perceived as limiting...... the praxis of the artist. We see different kinds of interventions and activism (including ‘hacktivism’) using the network as a way of questioning the invisible rules that govern public and semi-public spaces. Who ‘owns’ them? What kind of social relationships do they generate? On what principle...

  15. Net4Care

    DEFF Research Database (Denmark)

    Christensen, Henrik Bærbak; Hansen, Klaus Marius

    2012-01-01

    , health centers are getting larger and more distributed, and the number of healthcare professionals does not follow the trend in chronic diseases. All of this leads to a need for telemedical and mobile health applications. In a Danish context, these applications are often developed through local...... (innovative) initiatives with little regards for national and global (standardization) initiatives. A reason for this discrepancy is that the software architecture for national (and global) systems and standards are hard to understand, hard to develop systems based on, and hard to deploy. To counter this, we...... propose a software ecosystem approach for telemedicine applications, providing a framework, Net4Care, encapsulating national/global design decisions with respect to standardization while allowing for local innovation. This paper presents an analysis of existing systems, of requirements for a software...

  16. China’s Stock Market Integration with a Leading Power and a Close Neighbor

    Directory of Open Access Journals (Sweden)

    Zheng Yi

    2009-12-01

    Full Text Available Current integration and co-movement among international stock markets has been boosted by increased globalization of the world economy, and profit-chasing capital surfing across borders. With a reputation as the fastest growing economy in the world, China’s stock market has continued gaining momentum during recent years and incurred growing attention from academicians, as well as practitioners. Taking into account economic and geographical considerations, the US and Hong Kong are considerably the most comparable stock markets to China. The usual vector error correction model (VECM could overlook the long memory feature of cointegration residual series, which can in turn exert bias on the resulting inferences. To overcome its limitations, we employ a fractionally integrated VECM (FIVECM in this paper to investigate the long-term cointegration relations binding China’s stock market to the aforementioned stock markets. In addition, by augmenting the FIVECM with multivariate GARCH model, the return transmission and volatility spillover between market return series were revealed simultaneously. Our empirical results show that China’s stock market is fractionally cointegrated with the two markets, and it appears that China’s stock market has stronger ties with its neighboring Hong Kong market than with the world superpower, the US market.

  17. On bar growth and decay during interannual net offshore migration

    NARCIS (Netherlands)

    Walstra, D.J.R.; Reniers, A.J.H.M.; Ranasinghe, R.; Roelvink, J.A.; Ruessink, B.G.

    2012-01-01

    Multiple bar systems often show a cyclic net offshore directed migration with return periods on the order of years. Generally, a bar is generated near the shoreline, grows in height and width, while migrating offshore before finally decaying at the seaward limit of the surf zone. Based on a

  18. Manufacturing of thin walled near net shape iron castings

    DEFF Research Database (Denmark)

    Larsen, Per Leif

    2003-01-01

    The demand for near net shape thin walled iron castings is growing. This has several reasons, the main one is the need for lowering the fuel consumption of cars; the easiest way to do that is to lower the weight of the cars. The best way to do this was for a period of time believed...

  19. Stock price forecasting for companies listed on Tehran stock exchange using multivariate adaptive regression splines model and semi-parametric splines technique

    Science.gov (United States)

    Rounaghi, Mohammad Mahdi; Abbaszadeh, Mohammad Reza; Arashi, Mohammad

    2015-11-01

    One of the most important topics of interest to investors is stock price changes. Investors whose goals are long term are sensitive to stock price and its changes and react to them. In this regard, we used multivariate adaptive regression splines (MARS) model and semi-parametric splines technique for predicting stock price in this study. The MARS model as a nonparametric method is an adaptive method for regression and it fits for problems with high dimensions and several variables. semi-parametric splines technique was used in this study. Smoothing splines is a nonparametric regression method. In this study, we used 40 variables (30 accounting variables and 10 economic variables) for predicting stock price using the MARS model and using semi-parametric splines technique. After investigating the models, we select 4 accounting variables (book value per share, predicted earnings per share, P/E ratio and risk) as influencing variables on predicting stock price using the MARS model. After fitting the semi-parametric splines technique, only 4 accounting variables (dividends, net EPS, EPS Forecast and P/E Ratio) were selected as variables effective in forecasting stock prices.

  20. High-level Petri Nets

    DEFF Research Database (Denmark)

    various journals and collections. As a result, much of this knowledge is not readily available to people who may be interested in using high-level nets. Within the Petri net community this problem has been discussed many times, and as an outcome this book has been compiled. The book contains reprints...... of some of the most important papers on the application and theory of high-level Petri nets. In this way it makes the relevant literature more available. It is our hope that the book will be a useful source of information and that, e.g., it can be used in the organization of Petri net courses. To make......High-level Petri nets are now widely used in both theoretical analysis and practical modelling of concurrent systems. The main reason for the success of this class of net models is that they make it possible to obtain much more succinct and manageable descriptions than can be obtained by means...

  1. Net neutrality and audiovisual services

    OpenAIRE

    van Eijk, N.; Nikoltchev, S.

    2011-01-01

    Net neutrality is high on the European agenda. New regulations for the communication sector provide a legal framework for net neutrality and need to be implemented on both a European and a national level. The key element is not just about blocking or slowing down traffic across communication networks: the control over the distribution of audiovisual services constitutes a vital part of the problem. In this contribution, the phenomenon of net neutrality is described first. Next, the European a...

  2. NetView technical research

    Science.gov (United States)

    1993-01-01

    This is the Final Technical Report for the NetView Technical Research task. This report is prepared in accordance with Contract Data Requirements List (CDRL) item A002. NetView assistance was provided and details are presented under the following headings: NetView Management Systems (NMS) project tasks; WBAFB IBM 3090; WPAFB AMDAHL; WPAFB IBM 3084; Hill AFB; McClellan AFB AMDAHL; McClellan AFB IBM 3090; and Warner-Robins AFB.

  3. Melting ice, growing trade?

    Directory of Open Access Journals (Sweden)

    Sami Bensassi

    2016-05-01

    Full Text Available Abstract Large reductions in Arctic sea ice, most notably in summer, coupled with growing interest in Arctic shipping and resource exploitation have renewed interest in the economic potential of the Northern Sea Route (NSR. Two key constraints on the future viability of the NSR pertain to bathymetry and the future evolution of the sea ice cover. Climate model projections of future sea ice conditions throughout the rest of the century suggest that even under the most “aggressive” emission scenario, increases in international trade between Europe and Asia will be very low. The large inter-annual variability of weather and sea ice conditions in the route, the Russian toll imposed for transiting the NSR, together with high insurance costs and scarce loading/unloading opportunities, limit the use of the NSR. We show that even if these obstacles are removed, the duration of the opening of the NSR over the course of the century is not long enough to offer a consequent boost to international trade at the macroeconomic level.

  4. Carbon stocks and fluxes in managed peatlands in northern Borneo

    Science.gov (United States)

    Arn Teh, Yit; Manning, Frances; Cook, Sarah; Zin Zawawi, Norliyana; Sii, Longwin; Hill, Timothy; Page, Susan; Whelan, Mick; Evans, Chris; Gauci, Vincent; Chocholek, Melanie; Khoon Kho, Lip

    2017-04-01

    Oil palm is the largest agricultural crop in the tropics and accounts for 13 % of current tropical land area. Patterns of land-atmosphere exchange from oil palm ecosystems therefore have potentially important implications for regional and global C budgets due to the large scale of land conversion. This is particularly true for oil palm plantations on peat because of the large C stocks held by tropical peat soils that are potential sensitivity to human disturbance. Here we report preliminary findings on C stocks and fluxes from a long-term, multi-scale project in Sarawak, Malaysia that aims to quantify the impacts of oil palm conversion on C and greenhouse gas fluxes from oil palm recently established on peat. Land-atmosphere fluxes were determined using a combination of top-down and bottom-up methods (eddy covariance, canopy/stem and soil flux measurements, net primary productivity). Fluvial fluxes were determined by quantifying rates of dissolved and particulate organic C export. Ecosystem C dynamics were determined using the intensive C plot method, which quantified all major C stocks and fluxes, including plant and soil stocks, leaf litterfall, aboveground biomass production, root production, stem/canopy respiration, root-rhizosphere respiration, and heterotrophic soil respiration. Preliminary analysis indicates that vegetative aboveground biomass in these 7 year old plantations was 8.9-11.9 Mg C ha-1, or approximately one-quarter of adjacent secondary forest. Belowground biomass was 5.6-6.5 Mg C ha-1; on par with secondary forests. Soil C stocks in the 0-30 cm depth was 233.1-240.8 Mg C ha-1, or 32-36% greater than soil C stocks in secondary forests at the same depth (176.8 Mg C ha-1). Estimates of vegetative aboveground and belowground net primary productivity were 1.3-1.7 Mg C ha-1 yr-1 and 0.8-0.9 Mg C ha-1 yr-1, respectively. Fruit brunch production was approximately 67 Mg C ha-1over 7 yearsor 9.6 Mg C ha-1 yr-1. Total soil respiration rates were 18 Mg C ha

  5. Initial CAD investigations for NET

    International Nuclear Information System (INIS)

    Katz, F.; Leinemann, K.; Ludwig, A.; Marek, U.; Olbrich, W.; Schlechtendahl, E.G.

    1985-11-01

    This report summarizes the work done under contract no. 164/84-7/FU-D-/NET between the Commission of the European Communities and KfK during the period from June 1, 1984, through May 31, 1985. The following topics are covered in this report: Initial modelling of NET version NET2A, CAD system extension for remote handling studies, analysis of the CAD information structure, work related to the transfer of CAD information between KfK and the NET team. (orig.) [de

  6. Understanding Net Zero Energy Buildings

    DEFF Research Database (Denmark)

    Salom, Jaume; Widén, Joakim; Candanedo, José

    2011-01-01

    Although several alternative definitions exist, a Net-Zero Energy Building (Net ZEB) can be succinctly described as a grid-connected building that generates as much energy as it uses over a year. The “net-zero” balance is attained by applying energy conservation and efficiency measures...... and by incorporating renewable energy systems. While based on annual balances, a complete description of a Net ZEB requires examining the system at smaller time-scales. This assessment should address: (a) the relationship between power generation and building loads and (b) the resulting interaction with the power grid...

  7. GENERAL METHOD OF STOCKS AUDIT

    Directory of Open Access Journals (Sweden)

    Iryna Galushchak

    2017-03-01

    Full Text Available The article deals with the organization and methodology of accounting and auditing inventory enterprises. Suggestions for improvement of accounting permit to raise processing and presenting economic information to a higher level for making the economic and management decisions. Theory and practice problems of stocks audit were investigated. The basic directions of improvement of  stock audit were defined. The auditor can form an opinion about the state of business transactions of accounting of goods, define shortcomings in its organization and possible directions of elimination of violations and abuses. Program of audit of operations accounting with stocks should include the investigation of the preservation of property, valuation and posting costs, correct evaluation of purchased tangible assets, using of stocks in production. It is worth  to use techniques and methods of verification such as inventory, comparative control,  comparison of documentary evidence, counter check, check arithmetic for  audit of goods. Keywords: audit, stocks, activities of the company.

  8. Controls on the variability of net infiltration to desert sandstone

    Science.gov (United States)

    Heilweil, Victor M.; McKinney, Tim S.; Zhdanov, Michael S.; Watt, Dennis E.

    2007-01-01

    As populations grow in arid climates and desert bedrock aquifers are increasingly targeted for future development, understanding and quantifying the spatial variability of net infiltration becomes critically important for accurately inventorying water resources and mapping contamination vulnerability. This paper presents a conceptual model of net infiltration to desert sandstone and then develops an empirical equation for its spatial quantification at the watershed scale using linear least squares inversion methods for evaluating controlling parameters (independent variables) based on estimated net infiltration rates (dependent variables). Net infiltration rates used for this regression analysis were calculated from environmental tracers in boreholes and more than 3000 linear meters of vadose zone excavations in an upland basin in southwestern Utah underlain by Navajo sandstone. Soil coarseness, distance to upgradient outcrop, and topographic slope were shown to be the primary physical parameters controlling the spatial variability of net infiltration. Although the method should be transferable to other desert sandstone settings for determining the relative spatial distribution of net infiltration, further study is needed to evaluate the effects of other potential parameters such as slope aspect, outcrop parameters, and climate on absolute net infiltration rates.

  9. Growing Galaxies Gently

    Science.gov (United States)

    2010-10-01

    New observations from ESO's Very Large Telescope have, for the first time, provided direct evidence that young galaxies can grow by sucking in the cool gas around them and using it as fuel for the formation of many new stars. In the first few billion years after the Big Bang the mass of a typical galaxy increased dramatically and understanding why this happened is one of the hottest problems in modern astrophysics. The results appear in the 14 October issue of the journal Nature. The first galaxies formed well before the Universe was one billion years old and were much smaller than the giant systems - including the Milky Way - that we see today. So somehow the average galaxy size has increased as the Universe has evolved. Galaxies often collide and then merge to form larger systems and this process is certainly an important growth mechanism. However, an additional, gentler way has been proposed. A European team of astronomers has used ESO's Very Large Telescope to test this very different idea - that young galaxies can also grow by sucking in cool streams of the hydrogen and helium gas that filled the early Universe and forming new stars from this primitive material. Just as a commercial company can expand either by merging with other companies, or by hiring more staff, young galaxies could perhaps also grow in two different ways - by merging with other galaxies or by accreting material. The team leader, Giovanni Cresci (Osservatorio Astrofisico di Arcetri) says: "The new results from the VLT are the first direct evidence that the accretion of pristine gas really happened and was enough to fuel vigorous star formation and the growth of massive galaxies in the young Universe." The discovery will have a major impact on our understanding of the evolution of the Universe from the Big Bang to the present day. Theories of galaxy formation and evolution may have to be re-written. The group began by selecting three very distant galaxies to see if they could find evidence

  10. Price Earnings Ratio and Stock Return Analysis (Evidence from Liquidity 45 Stocks Listed in Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Liem Pei Fun

    2012-01-01

    Full Text Available Price to Earnings Ratio (PE Ratio has been broadly used by analysts and investors for stock selection. Stocks with low PE ratio are perceived as having cheaper current price hence expected to generate higher return in subsequent period. This paper aims to examine predictability of stock return using PE Ratio based on historical relationship between PE Ratio and subsequent stock return. Particularly, it seeks to find whether stocks with high PE Ratio followed by low stocks return and on the contrary, stocks with low PE Ratio followed by high stocks return. Using stocks which are included as member of Liquidity 45 and observation period 2005-2010 as samples, results show that there is significance difference between low PE and high PE portfolio stock return in short term (holding period of 6 months but there is no significance difference between both portfolio stock return if they are hold for one, two, three, and four years. This research also finds that there is no significant relationship between stock return and (trailing PE Ratio which suggests that (trailing PE Ratio is not useful in estimating both short term and long term stock returns

  11. Warmer temperatures reduce net carbon uptake, but not water use, in a mature southern Appalachian forest

    Science.gov (United States)

    Increasing air temperature is expected to extend growing season length in temperate, broadleaf forests, leading to potential increases in evapotranspiration and net carbon uptake. However, other key processes affecting water and carbon cycles are also highly temperature-dependent...

  12. Stock price prediction using geometric Brownian motion

    Science.gov (United States)

    Farida Agustini, W.; Restu Affianti, Ika; Putri, Endah RM

    2018-03-01

    Geometric Brownian motion is a mathematical model for predicting the future price of stock. The phase that done before stock price prediction is determine stock expected price formulation and determine the confidence level of 95%. On stock price prediction using geometric Brownian Motion model, the algorithm starts from calculating the value of return, followed by estimating value of volatility and drift, obtain the stock price forecast, calculating the forecast MAPE, calculating the stock expected price and calculating the confidence level of 95%. Based on the research, the output analysis shows that geometric Brownian motion model is the prediction technique with high rate of accuracy. It is proven with forecast MAPE value ≤ 20%.

  13. Community Net Energy Metering: How Novel Policies Expand Benefits of Net Metering to Non-Generators

    Energy Technology Data Exchange (ETDEWEB)

    Rose, James; Varnado, Laurel

    2009-04-01

    As interest in community solutions to renewable energy grows, more states are beginning to develop policies that encourage properties with more than one meter to install shared renewable energy systems. State net metering policies are evolving to allow the aggregation of multiple meters on a customer’s property and to dissolve conventional geographical boundaries. This trend means net metering is expanding out of its traditional function as an enabling incentive to offset onsite customer load at a single facility. This paper analyzes community net energy metering (CNEM) as an emerging vehicle by which farmers, neighborhoods, and municipalities may more easily finance and reap the benefits of renewable energy. Specifically, it aims to compare and contrast the definition of geographical boundaries among different CNEM models and examine the benefits and limitations of each approach. As state policies begin to stretch the geographic boundaries of net metering, they allow inventive solutions to encourage renewable energy investment. This paper attempts to initiate the conversation on this emerging policy mechanism and offers recommendations for further development of these policies.

  14. Remembering Differently: Use of Memory Strategies among Net-Generation ESL Learners

    Science.gov (United States)

    Shakarami, Alireza; Mardziah, H. Abdullah; Faiz, S. Abdullah; Tan, Bee Hoon

    2011-01-01

    Net-generation learners are growing up in an era when much of the learning, communication, socializing and ways of working take place through digital means. Living in this digital era may result in different ways of thinking, ways of approaching learning, strategies, and priorities. The Net-Geners therefore, need new skills and new strategies to…

  15. Partitioning of net carbon dioxide flux measured by automatic transparent chamber

    Science.gov (United States)

    Dyukarev, EA

    2018-03-01

    Mathematical model was developed for describing carbon dioxide fluxes at open sedge-sphagnum fen during growing season. The model was calibrated using the results of observations from automatic transparent chamber and it allows us to estimate autotrophic, heterotrophic and ecosystem respiration fluxes, gross and net primary vegetation production, and the net carbon balance.

  16. Linear Logic on Petri Nets

    DEFF Research Database (Denmark)

    Engberg, Uffe Henrik; Winskel, Glynn

    This article shows how individual Petri nets form models of Girard's intuitionistic linear logic. It explores questions of expressiveness and completeness of linear logic with respect to this interpretation. An aim is to use Petri nets to give an understanding of linear logic and give some apprai...

  17. Net neutrality and audiovisual services

    NARCIS (Netherlands)

    van Eijk, N.; Nikoltchev, S.

    2011-01-01

    Net neutrality is high on the European agenda. New regulations for the communication sector provide a legal framework for net neutrality and need to be implemented on both a European and a national level. The key element is not just about blocking or slowing down traffic across communication

  18. Properties of porous netted materials

    International Nuclear Information System (INIS)

    Daragan, V.D.; Drozdov, B.G.; Kotov, A.Yu.; Mel'nikov, G.N.; Pustogarov, A.V.

    1987-01-01

    Hydraulic and strength characteristics, efficient heat conduction and inner heat exchange coefficient are experimentally studied for porous netted materials on the base of the brass nets as dependent on porosity, cell size and method of net laying. Results of the studies are presented. It is shown that due to anisotropy of the material properties the hydraulic resistance in the direction parallel to the nets plane is 1.3-1.6 times higher than in the perpendicular one. Values of the effective heat conduction in the direction perpendicular to the nets plane at Π>0.45 agree with the data from literature, at Π<0.45 a deviation from the calculated values is marked in the direction of the heat conduction decrease

  19. NET remote workstation

    International Nuclear Information System (INIS)

    Leinemann, K.

    1990-10-01

    The goal of this NET study was to define the functionality of a remote handling workstation and its hardware and software architecture. The remote handling workstation has to fulfill two basic functions: (1) to provide the man-machine interface (MMI), that means the interface to the control system of the maintenance equipment and to the working environment (telepresence) and (2) to provide high level (task level) supporting functions (software tools) during the maintenance work and in the preparation phase. Concerning the man-machine interface, an important module of the remote handling workstation besides the standard components of man-machine interfacing is a module for graphical scene presentation supplementing viewing by TV. The technique of integrated viewing is well known from JET BOOM and TARM control using the GBsim and KISMET software. For integration of equipment dependent MMI functions the remote handling workstation provides a special software module interface. Task level support of the operator is based on (1) spatial (geometric/kinematic) models, (2) remote handling procedure models, and (3) functional models of the equipment. These models and the related simulation modules are used for planning, programming, execution monitoring, and training. The workstation provides an intelligent handbook guiding the operator through planned procedures illustrated by animated graphical sequences. For unplanned situations decision aids are available. A central point of the architectural design was to guarantee a high flexibility with respect to hardware and software. Therefore the remote handling workstation is designed as an open system based on widely accepted standards allowing the stepwise integration of the various modules starting with the basic MMI and the spatial simulation as standard components. (orig./HP) [de

  20. 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.

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

    African Journals Online (AJOL)

    Helet Lambrechts

    stocking densities will have a possible inhibitory effect on the establishment of ... Keywords: Ostriches, stocking density, male:female ratio, reproductive performance .... Eggs were stored upright with the air cell in the uppermost position.

  2. The use of mosquito nets in fisheries: A global perspective.

    Directory of Open Access Journals (Sweden)

    Rebecca Short

    Full Text Available Free or subsidised mosquito net (MN distribution has been an increasingly important tool in efforts to combat malaria in recent decades throughout the developing world, making great strides towards eradicating this hugely detrimental disease. However, there has been increasing concern in the natural resource management and healthcare communities over alternative use of MNs, particularly in artisanal fisheries where it has been suggested they pose a threat to sustainability of fish stocks. So far, little evidence has been presented as to the global prevalence and characteristics of MN fishing, limiting global management initiatives and incentives for action across disciplines. We conducted a rapid global assessment of mosquito net fishing (MNF observations from expert witnesses living and/or working in malarial zones using an internet survey. MNF was found to be a broadly pan-tropical activity, particularly prevalent in sub-Saharan Africa. MNF is conducted using a variety of deployment methods and scales including seine nets, scoop/dip nets, set nets and traps. MNF was witnessed in a broad range of marine and freshwater habitats and was seen to exploit a wide range of taxa, with capture of juvenile fish reported in more than half of responses. Perceived drivers of MNF were closely related to poverty, revealing potentially complex and arguably detrimental livelihood and food security implications which we discuss in light of current literature and management paradigms. The key policies likely to influence future impacts of MNF are in health, regarding net distribution, and natural resource management regarding restrictions on use. We outline critical directions for research and highlight the need for a collaborative, interdisciplinary approach to development of both localised and broad-scale policy.

  3. Soil salinity decreases global soil organic carbon stocks.

    Science.gov (United States)

    Setia, Raj; Gottschalk, Pia; Smith, Pete; Marschner, Petra; Baldock, Jeff; Setia, Deepika; Smith, Jo

    2013-11-01

    Saline soils cover 3.1% (397 million hectare) of the total land area of the world. The stock of soil organic carbon (SOC) reflects the balance between carbon (C) inputs from plants, and losses through decomposition, leaching and erosion. Soil salinity decreases plant productivity and hence C inputs to the soil, but also microbial activity and therefore SOC decomposition rates. Using a modified Rothamsted Carbon model (RothC) with a newly introduced salinity decomposition rate modifier and a plant input modifier we estimate that, historically, world soils that are currently saline have lost an average of 3.47 tSOC ha(-1) since they became saline. With the extent of saline soils predicted to increase in the future, our modelling suggests that world soils may lose 6.8 Pg SOC due to salinity by the year 2100. Our findings suggest that current models overestimate future global SOC stocks and underestimate net CO2 emissions from the soil-plant system by not taking salinity effects into account. From the perspective of enhancing soil C stocks, however, given the lower SOC decomposition rate in saline soils, salt tolerant plants could be used to sequester C in salt-affected areas. Copyright © 2012 Elsevier B.V. All rights reserved.

  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. Behavioral heterogeneity in stock prices

    NARCIS (Netherlands)

    Boswijk, H.P.; Hommes, C.H.; Manzan, S.

    2007-01-01

    We estimate a dynamic asset pricing model characterized by heterogeneous boundedly rational agents. The fundamental value of the risky asset is publicly available to all agents, but they have different beliefs about the persistence of deviations of stock prices from the fundamental benchmark. An

  6. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    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 curren...

  7. Dispositional optimism and stock investments

    NARCIS (Netherlands)

    Angelini, Viola; Cavapozzi, D.

    This paper analyzes the relationship between dispositional optimism and stock investments, controlling for cognitive skills and personality traits such as trust, social interactions and risk aversion. We use data from the Survey of Health, Ageing and Retirement in Europe (SHARE) on investors aged

  8. 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.

  9. 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

  10. 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

  11. Students Invest in the Stock Market

    Science.gov (United States)

    Parker, George O.

    1977-01-01

    How one teacher motivated students to learn about the stock market by allowing them to actually invest money. Class discussion covered inexpensive ways to buy stock, choosing securities, and buying and selling stock. Suggestions are offered for adapting this project for use at the secondary level. (TA)

  12. Stochastic GARCH dynamics describing correlations between stocks

    Science.gov (United States)

    Prat-Ortega, G.; Savel'ev, S. E.

    2014-09-01

    The ARCH and GARCH processes have been successfully used for modelling price dynamics such as stock returns or foreign exchange rates. Analysing the long range correlations between stocks, we propose a model, based on the GARCH process, which is able to describe the main characteristics of the stock price correlations, including the mean, variance, probability density distribution and the noise spectrum.

  13. Maintenance Appointments in Railway Rolling Stock Rescheduling

    NARCIS (Netherlands)

    J.C. Wagenaar (Joris); L.G. Kroon (Leo); M.E. Schmidt (Marie)

    2016-01-01

    textabstractThis paper addresses the Rolling Stock Rescheduling Problem (RSRP), while taking maintenance appointments into account. After a disruption, the rolling stock of the disrupted passenger trains has to be rescheduled in order to restore a feasible rolling stock circulation. Usually, a

  14. 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

  15. Are Stock and Corporate Bond Markets Integrated?

    NARCIS (Netherlands)

    van Zundert, J.; Driessen, Joost

    2017-01-01

    This study explores the cross-sectional integration of stock and corporate bond markets by comparing a firm’s expected stock return, as implied by corporate bond spreads, to its realized stock return. We compute expected corporate bond returns by correcting credit spreads for expected losses due to

  16. Stock market dynamics created by interacting agents

    Directory of Open Access Journals (Sweden)

    Mohamed Riad Remita

    2006-01-01

    Full Text Available We study a stock market model, consisting in a large number of agents, going eventually to infinity, and evaluate the stock price under the influence of opinions of different agents. Next we study the behavior of prices when the market is very nervous; there appear discontinuities (phase transitions which can be interpreted as stock market crashes.

  17. Analysis of Naval Ammunition Stock Positioning

    Science.gov (United States)

    2015-12-01

    not manipulated to be in favor of any system based on the assumption that stock positioned closer to demand would result in more favorable delivery...NAVAL POSTGRADUATE SCHOOL MONTEREY, CALIFORNIA MBA PROFESSIONAL REPORT ANALYSIS OF NAVAL AMMUNITION STOCK POSITIONING...professional report 4. TITLE AND SUBTITLE ANALYSIS OF NAVAL AMMUNITION STOCK POSITIONING 5. FUNDING NUMBERS 6. AUTHOR(S) David Sharp and Eric

  18. 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 divided...

  19. Stocking chart for upland central hardwoods

    Science.gov (United States)

    Martin E. Dale; Donald E. Hilt

    1989-01-01

    The upland hardwoods stocking chart, introduced by Gingrich in 1967, has become one of the forest manager's most useful tools. The chart allows you to determine the condition of the present stand in relation to a stocking standard. The stocking of a stand is extremely helpful in prescribing various silvicultural treatments such as intermediate thinnings,...

  20. 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.

  1. Net greenhouse gas emissions at Eastmain-1 reservoir, Quebec, Canada

    Energy Technology Data Exchange (ETDEWEB)

    Tremblay, Alain; Bastien, Julie; Bonneville, Marie-Claude; del Giorgio, Paul; Demarty, Maud; Garneau, Michelle; Helie, Jean-Francois; Pelletier, Luc; Prairie, Yves; Roulet, Nigel; Strachan, Ian; Teodoru, Cristian

    2010-09-15

    The growing concern regarding the long-term contribution of freshwater reservoirs to atmospheric greenhouse gases (GHG), led Hydro-Quebec, to study net GHG emissions from Eastmain 1 reservoir, which are the emissions related to the creation of a reservoir minus those that would have been emitted or absorbed by the natural systems over a 100-year period. This large study was realized in collaboration with University du Quebec a Montreal, McGill University and Environnement IIlimite Inc. This is a world premiere and the net GHG emissions of EM-1 will be presented in details.

  2. Conformal Nets II: Conformal Blocks

    Science.gov (United States)

    Bartels, Arthur; Douglas, Christopher L.; Henriques, André

    2017-08-01

    Conformal nets provide a mathematical formalism for conformal field theory. Associated to a conformal net with finite index, we give a construction of the `bundle of conformal blocks', a representation of the mapping class groupoid of closed topological surfaces into the category of finite-dimensional projective Hilbert spaces. We also construct infinite-dimensional spaces of conformal blocks for topological surfaces with smooth boundary. We prove that the conformal blocks satisfy a factorization formula for gluing surfaces along circles, and an analogous formula for gluing surfaces along intervals. We use this interval factorization property to give a new proof of the modularity of the category of representations of a conformal net.

  3. Pro asynchronous programming with .NET

    CERN Document Server

    Blewett, Richard; Ltd, Rock Solid Knowledge

    2014-01-01

    Pro Asynchronous Programming with .NET teaches the essential skill of asynchronous programming in .NET. It answers critical questions in .NET application development, such as: how do I keep my program responding at all times to keep my users happy how do I make the most of the available hardware how can I improve performanceIn the modern world, users expect more and more from their applications and devices, and multi-core hardware has the potential to provide it. But it takes carefully crafted code to turn that potential into responsive, scalable applications.With Pro Asynchronous Programming

  4. Stock Market Optimism and Cointegration among Stocks: The Case of the Prague Stock Exchange

    Czech Academy of Sciences Publication Activity Database

    Baxa, Jaromír

    2007-01-01

    Roč. 15, č. 4 (2007), s. 5-16 ISSN 0572-3043 R&D Projects: GA ČR GD402/03/H057 Institutional research plan: CEZ:AV0Z10750506 Keywords : stock market * optimism * cointegration Subject RIV: AH - Economics

  5. 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.

  6. KM3NeT

    CERN Multimedia

    KM3NeT is a large scale next-generation neutrino telescope located in the deep waters of the Mediterranean Sea, optimized for the discovery of galactic neutrino sources emitting in the TeV energy region.

  7. Pickering nuclear fish diversion net

    Energy Technology Data Exchange (ETDEWEB)

    Xiao, J.; Lew, A. [Ontario Power Generation, Toronto, Ontario (Canada)

    2013-07-01

    Pickering Fish Diversion Net - An Engineered Environmental Solution that has significantly reduced fish impingement at the Pickering Nuclear Facility. Note: As a recent urgent request/discussed by Mark Elliot, CNE-OPG and Jacques Plourde, CNS.

  8. PolicyNet Publication System

    Data.gov (United States)

    Social Security Administration — The PolicyNet Publication System project will merge the Oracle-based Policy Repository (POMS) and the SQL-Server CAMP system (MSOM) into a new system with an Oracle...

  9. Net Neutrality: Background and Issues

    National Research Council Canada - National Science Library

    Gilroy, Angele A

    2006-01-01

    .... The move to place restrictions on the owners of the networks that compose and provide access to the Internet, to ensure equal access and nondiscriminatory treatment, is referred to as "net neutrality...

  10. Towards understanding of carbon stocks and stabilization in volcanic ash soils in natural Andean ecosystems of northern Ecuador

    NARCIS (Netherlands)

    Tonneijck, F.H.; Jansen, B.; Nierop, K.G.J.; Verstraten, J.M.; Sevink, J.; de Lange, L.

    2010-01-01

    Volcanic ash soils contain very large stocks of soil organic matter (SOM) per unit area. Consequently, they constitute potential sources or sinks for the greenhouse gas carbon dioxide. Whether soils become a net carbon source or sink with climate and/or land-use change depends on the stability of

  11. Analisis Determinan Net Ekspor Indonesia

    OpenAIRE

    Daulay, Rahmawaty

    2010-01-01

    This study is to analyzing empirically among Indonesia GDP, trade partnership GDP (Malaysia, Singapore, US and Thailand) and real exchange rate toward Indonesia Net Export. To find out which one from those three variables is significant in order to fluctuating (increasing or decreasing) Indonesia Net Export either in the short run or in the long run. Data collection is obtained using secondary data, namely Indonesia GDP, Malaysia GDP, Singapura GDP, US GDP, Thailand GDP and real exchange rate...

  12. NetBeans GUI Builder

    OpenAIRE

    Pusiankova, Tatsiana

    2009-01-01

    This work aims at making readers familiar with the powerful tool NetBeans IDE GUI Builder and helping them make their first steps to creation of their own graphical user interface in the Java programming language. The work includes theoretical description of NetBeans IDE GUI Builder, its most important characteristics and peculiarities and also a set of practical instructions that will help readers in creation of their first GUI. The readers will be introduced to the environment of this tool ...

  13. Multiflavor string-net models

    Science.gov (United States)

    Lin, Chien-Hung

    2017-05-01

    We generalize the string-net construction to multiple flavors of strings, each of which is labeled by the elements of an Abelian group Gi. The same flavor of strings can branch, while different flavors of strings can cross one another and thus they form intersecting string nets. We systematically construct the exactly soluble lattice Hamiltonians and the ground-state wave functions for the intersecting string-net condensed phases. We analyze the braiding statistics of the low-energy quasiparticle excitations and find that our model can realize all the topological phases as the string-net model with group G =∏iGi . In this respect, our construction provides various ways of building lattice models which realize topological order G , corresponding to different partitions of G and thus different flavors of string nets. In fact, our construction concretely demonstrates the Künneth formula by constructing various lattice models with the same topological order. As an example, we construct the G =Z2×Z2×Z2 string-net model which realizes a non-Abelian topological phase by properly intersecting three copies of toric codes.

  14. Valuation of common and preferred stocks

    Directory of Open Access Journals (Sweden)

    Nikolić Ljubica

    2014-01-01

    Full Text Available Buying stocks is a modern way of investing. The investors may place the available capital on the domestic and foreign stock market, they may buy more stocks of a single issuer or distribute money to purchase stocks of various public (stock-exchange companies, and they may form a portfolio of various securities. The investors' decisions on these options are based on their estimate on returns and risks underlying individual security instruments (securities. The two basic approaches to valuation of common stocks are: the Present Value Approach (method of valuating the capitalization of income and the P/E Ratio Approach (the method of valuating the multiple of per-share earnings. Instead of viewing these methods as competing alternatives, they should better be viewed as mutually complementary methods. Both methods are equally useful and their concurrent use may provide better grounds for the analysts' valuation of stocks.

  15. Does Employee Stock Ownership Work?

    DEFF Research Database (Denmark)

    Kato, Takao; Miyajima, Hideaki; Owan, Hideo

    studies, we focus on the effects of changes in varying attributes of existing ESO—the effects on the intensive margin. Our fixed effect estimates show that an increase in the strength of the existing ESO plans measured by stake per employee results in statistically significant productivity gains....... Furthermore, such productivity gains are found to lead to profitability gains since wage gains from ESO plans are statistically significant yet rather modest. Our analysis of Tobin's Q suggests that the market tends to view such gains from ESO plans as permanent. We further find that increasing the stake......This paper provides novel evidence on the effects of employee stock ownership (ESO), using new panel data on Japanese ESO plans for a highly representative sample of publicly-traded firms in Japan (covering more than 75% of all firms listed on Tokyo Stock Exchange) over 1989-2013. Unlike most prior...

  16. What stock market returns to expect for the future?

    Science.gov (United States)

    Diamond, P A

    2000-01-01

    . But lower savings as growth slows should partially or fully offset that effect. The present high stock prices, together with projected slow economic growth, are not consistent with a 7.0 percent return. With a plausible level of adjusted dividends (dividends plus net share repurchases), the ratio of stock value to gross domestic product (GDP) would rise more than 20-fold over 75 years. Similarly, the steady-state Gordon formula--that stock returns equal the adjusted dividend yield plus the growth rate of stock prices (equal to that of GDP)--suggests a return of roughly 4.0 percent to 4.5 percent. Moreover, when relative stock values have been high, returns over the following decade have tended to be low. To eliminate the inconsistency posed by the assumed 7.0 percent return, one could assume higher GDP growth, a lower long-run stock return, or a lower short-run stock return with a 7.0 percent return on a lower base thereafter. For example, with an adjusted dividend yield of 2.5 percent to 3.0 percent, the market would have to decline about 35 percent to 45 percent in real terms over the next decade to reach steady state. In short, either the stock market is overvalued and requires a correction to justify a 7.0 percent return thereafter, or it is correctly valued and the long-run return is substantially lower than 7.0 percent (or some combination). This article argues that the "overvalued" view is more convincing, since the "correctly valued" hypothesis implies an implausibly small equity premium. Although OCACT could adopt a lower rate for the entire 75-year period, a better approach would be to assume lower returns over the next decade and a 7.0 percent return thereafter.

  17. Social Mood, Stock Market Performance, and U.S. Presidential Elections

    Directory of Open Access Journals (Sweden)

    Robert R. Prechter

    2012-11-01

    Full Text Available We analyze all U.S. presidential election bids. We find a positive, significant relationship between the incumbent’s vote margin and the prior net percentage change in the stock market. This relationship does not extend to the incumbent’s party when the incumbent does not run for reelection. We find no significant relationships between the incumbent’s vote margin and inflation or unemployment. Gross domestic product (GDP is a significant predictor of the incumbent’s popular vote margin in simple regression but is rendered insignificant when combined with the stock market in multiple regression. Hypotheses of economic voting fail to account for the findings. The results are consistent with socionomic voting theory, which includes the hypotheses that (a social mood as reflected by the stock market is a more powerful regulator of reelection outcomes than economic variables such as GDP, inflation, and unemployment; and (b voters unconsciously credit or blame the leader for their mood.

  18. 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....

  19. 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.

  20. Hikers and recreational stock users: Predicting and managing recreation conflicts in three wildernesses

    Science.gov (United States)

    Alan E. Watson; Michael J. Niccolucci; Daniel R. Williams

    1993-01-01

    A long-term problem that continues to grow in many wildland areas is the displeasure hikers express about meeting recreational livestock (primarily horses and mules) and seeing impacts from stock use. Three studies were conducted to provide a broad look at this interaction in wilderness and some of the contributors to the conflict between hikers and horse users....

  1. Detailed assessment of structural characteristics of Turkish RC building stock for loss assessment models

    NARCIS (Netherlands)

    Bal, I. E.; Crowley, Helen; Pinho, Rui; Gülay, F. Gülten

    2008-01-01

    Assessment of the seismic vulnerability of the building stock in the earthquake-prone Marmara region of Turkey is of growing importance since such information is needed for reliable estimation of the losses that possible future earthquakes are likely to induce. The outcome of such loss assessment

  2. Customer satisfaction as a buffer against sentimental stock-price corrections

    NARCIS (Netherlands)

    Merrin, R.P.; Hoffmann, A.O.I.; Pennings, J.M.E.

    2013-01-01

    Abstract Previous research has shown that customer satisfaction is a market-based asset that can contribute to a firm’s value by increasing its stock-market returns, while simultaneously reducing the riskiness of these returns. This study contributes to the growing literature on the

  3. 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.

  4. FERMENTED BLOOD MEAL USE FOR TIGER GROUPER, Epinephelus fuscoguttatus GROW-OUT DIET

    Directory of Open Access Journals (Sweden)

    Usman Usman

    2007-06-01

    Full Text Available The experiment aimed to evaluate the optimal level of fermented blood meal used in grow-out diets for tiger grouper, as an alternative protein source to fish meal. Juvenile tiger grouper, initial weight 31.1 ± 2.1 g, were stocked into 1 m x 1 m x 2 m floating net cages at 20 fish cage-1. The treatment applied was isoprotein and isocaloric diets formulated to contain fermented blood meal (FBM of 0%, 7.5%, 15.0%, 22.5%, and 30.0% replacement of fish meal protein. The diets were fed to the fish twice a day to satiation for 20 weeks. Based on the Tukey test, the fish fed 0%–15.0% FBM demonstrated similar performance (P>0.05 to those fed the control diet (FBM0 in terms of specific growth rate, weight gain, and feed and protein efficiency. Specific growth rate, weight gain, feed efficiency and protein efficiency of the fish fed 22.5%–30.5% FBM were significantly lower (P<0.05 than those of the fish fed control diet (FBM0. However, there was a significant culvilinier decliner in overall fish performance with increasing inclusion of FPM and most notable for weight gain, feed efficiency and feed consumption. Based on regression analysis, the asymptote where fish growth deteriorates as a function of FBM inclusion was determined to be 8.9%. Tiger grouper diets incorporating up to 9% FBM as fish meal replacement had no adverse affects on fish growth and survival.

  5. Factors of formation of the dividend policy of joint stock companies

    Directory of Open Access Journals (Sweden)

    Rohov Heorhii K.

    2014-01-01

    Full Text Available The article is devoted to justification of factors of formation of the dividend policy of Ukrainian public joint stock companies (PJSC at the modern stage of development of corporate relations. It analyses specific features of the dividend policy of Ukrainian PJSC, which, in particular, shows that their financial results practically do not influence the practice of net profit distribution. It identifies main factors of formation of the corporate dividend policy and provides theoretical justification of the governing practice of net profit distribution by Ukrainian PJSC under the modern state of the stock market. It justifies that the unrepresentative listing of stock exchanges, extremely high concentration of capital and rather limited influence of institutes of joint investment are key factors that cause a very weak reaction of the Ukrainian securities market on payment of dividends, which, in its turn, is the main reason of rejection of expediency of development and realisation of the consistent dividend policy by overwhelming majority of joint stock companies. The article draws a conclusion that the basis of evolution changes in the corporate vision of the dividend policy should be creation of the institutional environment, which would be adequate to the needs of sustainable development. The article offers to fix, at the legislative level and while being at the transitional stage, the right of minor shareholders to get income from owning ordinary shares of companies, which aggregate joint participation of co-owners is more than 75%.

  6. The past and future of food stocks

    International Nuclear Information System (INIS)

    Laio, Francesco; Ridolfi, Luca; D’Odorico, Paolo

    2016-01-01

    Human societies rely on food reserves and the importation of agricultural goods as means to cope with crop failures and associated food shortage. While food trade has been the subject of intensive investigations in recent years, food reserves remain poorly quantified. It is unclear how food stocks are changing and whether they are declining. In this study we use food stock records for 92 products to reconstruct 50 years of aggregated food reserves, expressed in caloric equivalent (kcal), at the regional and global scales. A detailed statistical analysis demonstrates that the overall regional and global per-capita food stocks are stationary, challenging a widespread impression that food reserves are shrinking. We develop a statistically-sound stochastic representation of stock dynamics and take the stock-halving probability as a measure of the natural variability of the process. We find that there is a 20% probability that the global per-capita stocks will be halved by 2050. There are, however, some strong regional differences: Western Europe and the region encompassing North Africa and the Middle East have smaller halving probabilities and smaller per-capita stocks, while North America and Oceania have greater halving probabilities and greater per-capita stocks than the global average. Africa exhibits low per-capita stocks and relatively high probability of stock halving by 2050, which reflects a state of higher food insecurity in this continent. (letter)

  7. Net change in carbon emissions with increased wood energy use in the United States

    Science.gov (United States)

    Prakash Nepal; David N. Wear; Kenneth E. Skog

    2014-01-01

    Use of wood biomass for energy results in carbon (C) emissions at the time of burning and alters C stocks on the land because of harvest, regrowth, and changes in land use or management. This study evaluates the potential effects of expanded woody biomass energy use (for heat and power) on net C emissions over time. A scenario with increased wood energy use is compared...

  8. 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

  9. The synchronicity between the stock and the stock index via information in market

    Science.gov (United States)

    Gao, Hai-Ling; Li, Jiang-Cheng; Guo, Wei; Mei, Dong-Cheng

    2018-02-01

    The synchronicity between the stock and the stock-index in a market system is investigated. The results show that: (i) the synchronicity between the stock and the stock-index increases with the rising degree of market information capitalized into stock prices in certain range; (ii) the synchronicity decreases for large firm-specific information; (iii) the stock return synchronicity is small compared to the big noise trading, however the variance noise facilitates the synchronization within the tailored realms. These findings may be helpful in understanding the effect of market information on synchronicity, especially for the response of firm-specific information and noise trading to synchronicity.

  10. Climatic regions as an indicator of forest coarse and fine woody debris carbon stocks in the United States

    Directory of Open Access Journals (Sweden)

    Liknes Greg C

    2008-06-01

    Full Text Available Abstract Background Coarse and fine woody debris are substantial forest ecosystem carbon stocks; however, there is a lack of understanding how these detrital carbon stocks vary across forested landscapes. Because forest woody detritus production and decay rates may partially depend on climatic conditions, the accumulation of coarse and fine woody debris carbon stocks in forests may be correlated with climate. This study used a nationwide inventory of coarse and fine woody debris in the United States to examine how these carbon stocks vary by climatic regions and variables. Results Mean coarse and fine woody debris forest carbon stocks vary by Köppen's climatic regions across the United States. The highest carbon stocks were found in regions with cool summers while the lowest carbon stocks were found in arid desert/steppes or temperate humid regions. Coarse and fine woody debris carbon stocks were found to be positively correlated with available moisture and negatively correlated with maximum temperature. Conclusion It was concluded with only medium confidence that coarse and fine woody debris carbon stocks may be at risk of becoming net emitter of carbon under a global climate warming scenario as increases in coarse or fine woody debris production (sinks may be more than offset by increases in forest woody detritus decay rates (emission. Given the preliminary results of this study and the rather tenuous status of coarse and fine woody debris carbon stocks as either a source or sink of CO2, further research is suggested in the areas of forest detritus decay and production.

  11. The Australian stock market development: Prospects and challenges

    OpenAIRE

    Sheilla Nyasha; Nicholas M. Odhiambo

    2013-01-01

    This paper highlights the origin and development of the Australian stock market. The country has three major stock exchanges, namely: the Australian Securities Exchange Group, the National Stock Exchange of Australia, and the Asia-Pacific Stock Exchange. These stock exchanges were born out of a string of stock exchanges that merged over time. Stock-market reforms have been implemented since the period of deregulation, during the 1980s; and the Exchanges responded largely positively to these r...

  12. 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.

  13. Organization of growing random networks

    International Nuclear Information System (INIS)

    Krapivsky, P. L.; Redner, S.

    2001-01-01

    The organizational development of growing random networks is investigated. These growing networks are built by adding nodes successively, and linking each to an earlier node of degree k with an attachment probability A k . When A k grows more slowly than linearly with k, the number of nodes with k links, N k (t), decays faster than a power law in k, while for A k growing faster than linearly in k, a single node emerges which connects to nearly all other nodes. When A k is asymptotically linear, N k (t)∼tk -ν , with ν dependent on details of the attachment probability, but in the range 2 -2 power-law tail, where s is the component size. The out component has a typical size of order lnt, and it provides basic insights into the genealogy of the network

  14. Traditional nets interfere with the uptake of long-lasting insecticidal nets in the Peruvian Amazon: the relevance of net preference for achieving high coverage and use.

    Directory of Open Access Journals (Sweden)

    Koen Peeters Grietens

    Full Text Available While coverage of long-lasting insecticide-treated nets (LLIN has steadily increased, a growing number of studies report gaps between net ownership and use. We conducted a mixed-methods social science study assessing the importance of net preference and use after Olyset® LLINs were distributed through a mass campaign in rural communities surrounding Iquitos, the capital city of the Amazonian region of Peru.The study was conducted in the catchment area of the Paujil and Cahuide Health Centres (San Juan district between July 2007 and November 2008. During a first qualitative phase, participant observation and in-depth interviews collected information on key determinants for net preference and use. In a second quantitative phase, a survey among recently confirmed malaria patients evaluated the acceptability and use of both LLINs and traditional nets, and a case control study assessed the association between net preference/use and housing structure (open vs. closed houses.A total of 10 communities were selected for the anthropological fieldwork and 228 households participated in the quantitative studies. In the study area, bed nets are considered part of the housing structure and are therefore required to fulfil specific architectural and social functions, such as providing privacy and shelter, which the newly distributed Olyset® LLINs ultimately did not. The LLINs' failure to meet these criteria could mainly be attributed to their large mesh size, transparency and perceived ineffectiveness to protect against mosquitoes and other insects, resulting in 63.3% of households not using any of the distributed LLINs. Notably, LLIN usage was significantly lower in houses with no interior or exterior walls (35.2% than in those with walls (73.8% (OR = 5.2, 95CI [2.2; 12.3], p<0.001.Net preference can interfere with optimal LLIN use. In order to improve the number of effective days of LLIN protection per dollar spent, appropriate quantitative and qualitative

  15. MATT: Multi Agents Testing Tool Based Nets within Nets

    Directory of Open Access Journals (Sweden)

    Sara Kerraoui

    2016-12-01

    As part of this effort, we propose a model based testing approach for multi agent systems based on such a model called Reference net, where a tool, which aims to providing a uniform and automated approach is developed. The feasibility and the advantage of the proposed approach are shown through a short case study.

  16. The stock selection problem: Is the stock selection approach more important than the optimization method? Evidence from the Danish stock market

    OpenAIRE

    Grobys, Klaus

    2011-01-01

    Passive investment strategies basically aim to replicate an underlying benchmark. Thereby, the management usually selects a subset of stocks being employed in the optimization procedure. Apart from the optimization procedure, the stock selection approach determines the stock portfolios' out-of-sample performance. The empirical study here takes into account the Danish stock market from 2000-2010 and gives evidence that stock portfolios including small companies' stocks being estimated via coin...

  17. Implementing NetScaler VPX

    CERN Document Server

    Sandbu, Marius

    2014-01-01

    An easy-to-follow guide with detailed step-by step-instructions on how to implement the different key components in NetScaler, with real-world examples and sample scenarios.If you are a Citrix or network administrator who needs to implement NetScaler in your virtual environment to gain an insight on its functionality, this book is ideal for you. A basic understanding of networking and familiarity with some of the different Citrix products such as XenApp or XenDesktop is a prerequisite.

  18. Net4Care PHMR Library

    DEFF Research Database (Denmark)

    2014-01-01

    The Net4Care PHMR library contains a) A GreenCDA approach for constructing a data object representing a PHMR document: SimpleClinicalDocument, and b) A Builder which can produce a XML document representing a valid Danish PHMR (following the MedCom profile) document from the SimpleClinicalDocument......The Net4Care PHMR library contains a) A GreenCDA approach for constructing a data object representing a PHMR document: SimpleClinicalDocument, and b) A Builder which can produce a XML document representing a valid Danish PHMR (following the MedCom profile) document from the Simple...

  19. Coloured Petri Nets and the Invariant Method

    DEFF Research Database (Denmark)

    Jensen, Kurt

    1981-01-01

    processes to be described by a common subnet, without losing the ability to distinguish between them. Our generalization, called coloured Petri nets, is heavily influenced by predicate transition-nets introduced by H.J. Genrich and K. Lautenbach. Moreover our paper shows how the invariant-method, introduced...... for Petri nets by K. Lautenbach, can be generalized to coloured Petri nets....

  20. Long Memory in the Greek Stock Market

    OpenAIRE

    John T. Barkoulas; Christopher F. Baum; Nickolaos Travlos

    1996-01-01

    We test for stochastic long memory in the Greek stock market, an emerging capital market. The fractional differencing parameter is estimated using the spectral regression method. Contrary to findings for major capital markets, significant and robust evidence of positive long-term persistence is found in the Greek stock market. As compared to benchmark linear models, the estimated fractional models provide improved out-of-sample forecasting accuracy for the Greek stock returns series over long...

  1. 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.

  2. 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....

  3. Stock returns and foreign investment in Brazil

    OpenAIRE

    Reis, Luciana; Meurer, Roberto; Da Silva, Sergio

    2008-01-01

    We examine the relationship between stock returns and foreign investment in Brazil, and find that the inflows of foreign investment boosted the returns from 1995 to 2005. There was a strong contemporaneous correlation, although not Granger-causality. Foreign investment along with the exchange rate, the influence of the world stock markets, and country risk can explain 73 percent of the changes that occurred in the stock returns over the period. We also find that positive feedback trading play...

  4. Macroeconomic Forces and Stock Returns in Vietnam

    OpenAIRE

    Phan, Van Hang

    2008-01-01

    Capital market development, especially the appearance of Vietnamese equity market recently has a strategic importance in the economic growth and structural reform process of Vietnam (Chun et al, 2003). This dissertation focuses on the impacts of macroeconomic forces on stock market returns in Vietnamese stock market which has not been investigated in detail before, and thereby to contribute further literature on this new emerging stock market. Specifically, the research will intensively inves...

  5. A new Loan-Stock Financial Instrument

    OpenAIRE

    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 po...

  6. 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.

  7. 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.

  8. Energy and Environment. Electric power stock exchange

    International Nuclear Information System (INIS)

    Fazioli, R.; Antonioli, B.; Beccarello, M.; Da Rin, B.

    2000-01-01

    In this paper are reported the structural characteristics of electric power stock exchange in the processes liberalization of european electric markets. International experience are also considered [it

  9. The Speculative Nature of Stock Market

    Directory of Open Access Journals (Sweden)

    Bogdan-Gabriel FILIPESCU

    2011-12-01

    Full Text Available This paper focuses on the speculative nature of the stock market in Romania, emphasizing the basic rules and risks associated with stock transactions. On the one hand, the speculative nature may be considered as a mandatory feature of the stock market, for the purposes of supporting a fair and efficient functioning stock system. On the other hand, the term "speculative" can be also interpreted in a negative direction, i.e. in combination with market manipulation or market abuse. Related to this latter interpretation, the study refers to European legislation on market abuse, accepted market practices and those that constitute market manipulation.

  10. 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 ...

  11. 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.

  12. Stock Market Integration in Africa: The Case of the Johannesburg Stock Exchange and Selected African Countries

    OpenAIRE

    Gail Ncube; Kapingura Forget Mingiri

    2015-01-01

    African stock markets are deemed to be small, segmented and illiquid. Given this back ground, the study utilises monthly data for the period 2000-2008, employing the Johansen and Julius cointegration method to determine the long-run relationship between the five selected African stock markets. Granger causality tests were also conducted to establish if there are any causal links between the stock markets in Africa. The analysis in the study indicates that African stock markets are improving i...

  13. Effects of harvesting on spatial and temporal diversity of carbon stocks in a boreal forest landscape.

    Science.gov (United States)

    Ter-Mikaelian, Michael T; Colombo, Stephen J; Chen, Jiaxin

    2013-10-01

    Carbon stocks in managed forests of Ontario, Canada, and in harvested wood products originated from these forests were estimated for 2010-2100. Simulations included four future forest harvesting scenarios based on historical harvesting levels (low, average, high, and maximum available) and a no-harvest scenario. In four harvesting scenarios, forest carbon stocks in Ontario's managed forest were estimated to range from 6202 to 6227 Mt C (millions of tons of carbon) in 2010, and from 6121 to 6428 Mt C by 2100. Inclusion of carbon stored in harvested wood products in use and in landfills changed the projected range in 2100 to 6710-6742 Mt C. For the no-harvest scenario, forest carbon stocks were projected to change from 6246 Mt C in 2010 to 6680 Mt C in 2100. Spatial variation in projected forest carbon stocks was strongly related to changes in forest age (r = 0.603), but had weak correlation with harvesting rates. For all managed forests in Ontario combined, projected carbon stocks in combined forest and harvested wood products converged to within 2% difference by 2100. The results suggest that harvesting in the boreal forest, if applied within limits of sustainable forest management, will eventually have a relatively small effect on long-term combined forest and wood products carbon stocks. However, there was a large time lag to approach carbon equality, with more than 90 years with a net reduction in stored carbon in harvested forests plus wood products compared to nonharvested boreal forest which also has low rates of natural disturbance. The eventual near equivalency of carbon stocks in nonharvested forest and forest that is harvested and protected from natural disturbance reflects both the accumulation of carbon in harvested wood products and the relatively young age at which boreal forest stands undergo natural succession in the absence of disturbance.

  14. Performance of technical trading rules: evidence from Southeast Asian stock markets.

    Science.gov (United States)

    Tharavanij, Piyapas; Siraprapasiri, Vasan; Rajchamaha, Kittichai

    2015-01-01

    This paper examines the profitability of technical trading rules in the five Southeast Asian stock markets. The data cover a period of 14 years from January 2000 to December 2013. The instruments investigated are five Southeast Asian stock market indices: SET index (Thailand), FTSE Bursa Malaysia KLC index (Malaysia), FTSE Straits Times index (Singapore), JSX Composite index (Indonesia), and PSE composite index (the Philippines). Trading strategies investigated include Relative Strength Index, Stochastic oscillator, Moving Average Convergence-Divergence, Directional Movement Indicator and On Balance Volume. Performances are compared to a simple Buy-and-Hold. Statistical tests are also performed. Our empirical results show a strong performance of technical trading rules in an emerging stock market of Thailand but not in a more mature stock market of Singapore. The technical trading rules also generate statistical significant returns in the Malaysian, Indonesian and the Philippine markets. However, after taking transaction costs into account, most technical trading rules do not generate net returns. This fact suggests different levels of market efficiency among Southeast Asian stock markets. This paper finds three new insights. Firstly, technical indicators does not help much in terms of market timing. Basically, traders cannot expect to buy at a relative low price and sell at a relative high price by just using technical trading rules. Secondly, technical trading rules can be beneficial to individual investors as they help them to counter the behavioral bias called disposition effects which is the tendency to sell winning stocks too soon and holding on to losing stocks too long. Thirdly, even profitable strategies could not reliably predict subsequent market directions. They make money from having a higher average profit from profitable trades than an average loss from unprofitable ones.

  15. D.NET case study

    International Development Research Centre (IDRC) Digital Library (Canada)

    lremy

    The mission was defined to build, “A society where information and ... innovative ideas and projects around different themes (using ICT), and piloting them to test .... like D.Net with several projects that had moved beyond their pilot phase.

  16. Petri Nets in Cryptographic Protocols

    DEFF Research Database (Denmark)

    Crazzolara, Federico; Winskel, Glynn

    2001-01-01

    A process language for security protocols is presented together with a semantics in terms of sets of events. The denotation of process is a set of events, and as each event specifies a set of pre and postconditions, this denotation can be viewed as a Petri net. By means of an example we illustrate...

  17. Complexity metrics for workflow nets

    NARCIS (Netherlands)

    Lassen, K.B.; Aalst, van der W.M.P.

    2009-01-01

    Process modeling languages such as EPCs, BPMN, flow charts, UML activity diagrams, Petri nets, etc., are used to model business processes and to configure process-aware information systems. It is known that users have problems understanding these diagrams. In fact, even process engineers and system

  18. Reference Guide Microsoft.NET

    NARCIS (Netherlands)

    Zee M van der; Verspaij GJ; Rosbergen S; IMP; NMD

    2003-01-01

    Met behulp van het rapport kunnen ontwikkelaars, beheerders en betrokken managers bij ICT projecten meer inzicht krijgen in de .NET technologie en een goede keuze maken in de inzetbaarheid van deze technologie. Het rapport geeft de bevindingen en conclusies van een verkennende studie naar het

  19. Complexity Metrics for Workflow Nets

    DEFF Research Database (Denmark)

    Lassen, Kristian Bisgaard; van der Aalst, Wil M.P.

    2009-01-01

    Process modeling languages such as EPCs, BPMN, flow charts, UML activity diagrams, Petri nets, etc.\\ are used to model business processes and to configure process-aware information systems. It is known that users have problems understanding these diagrams. In fact, even process engineers and system...

  20. Communicating with the Net Generation

    Science.gov (United States)

    2011-03-11

    resource investment is necessary to sustain a high quality all-volunteer force. 9 Leadership Technique for the Net Generation Army Regulation 600...Generations at Work, Millenials at Work, http://www.generationsatwork. com /articles_millennials_at_work.php (accessed November 21, 2010). 31 Thomas

  1. Net Neutrality in the Netherlands

    NARCIS (Netherlands)

    van Eijk, N.

    2014-01-01

    The Netherlands is among the first countries that have put specific net neutrality standards in place. The decision to implement specific regulation was influenced by at least three factors. The first was the prevailing social and academic debate, partly due to developments in the United States. The

  2. Surgery for GEP-NETs

    DEFF Research Database (Denmark)

    Knigge, Ulrich; Hansen, Carsten Palnæs

    2012-01-01

    Surgery is the only treatment that may cure the patient with gastroentero-pancreatic (GEP) neuroendocrine tumours (NET) and neuroendocrine carcinomas (NEC) and should always be considered as first line treatment if R0/R1 resection can be achieved. The surgical and interventional procedures for GEP...

  3. Net4Care PHMR Tutorial

    DEFF Research Database (Denmark)

    Christensen, Henrik Bærbak

    Goal To demonstrate how to use the Net4Care PHMR builder module to a) Create a SimpleClinicalDocument instance and populate it with relevant administrative and medical information to form a tele medical report of a set of measurements, b) Use the provided DanishPHMRBuilder to generate a correctly...

  4. (centropomidae) stock in lift-net fishery in lake tanganyika, kigoma ...

    African Journals Online (AJOL)

    Mgina

    Catch per unit effort was similar between wet and dry seasons ... fluctuations in its abundance in the Kigoma ... so its use as a measure of fishing effort ... individual fishes were put in an ogive model ... A: Seasonal variations in total CPUE for Lates stappersii in Kigoma area of Lake ... Compared with other components of the.

  5. 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. ...

  6. 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…

  7. 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

  8. 78 FR 17066 - Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in...

    Science.gov (United States)

    2013-03-19

    ... Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in Outbound... issue of the Federal Register, the IRS and the Treasury Department are issuing temporary regulations... stock transfers for certain outbound asset reorganizations. The temporary regulations also modify the...

  9. Proving the Relation between Stock and Interbank Markets: The Bahrain Stock Exchange

    OpenAIRE

    Matveev, Aleksandr

    2014-01-01

    The present paper deals with further analysis of the relationship between the interbank loan rateon the one hand and the volume of investment and the amount of stocks tradable on the stock exchange on the other hand, as corroborated by calculations performed on Bahrain Stock Exchange data.

  10. Survey of stocking policies for tailwater trout fisheries in the southern United States

    Science.gov (United States)

    Swink, William D.

    1983-01-01

    A survey of the 16 southern states showed that 48 tailwaters in 13 states were stocked with trout in 1980. Of the almost 3.7 million trout released in these waters, 81% were of catchable size and 19% were fingerlings (Salmo gairdneri). A trend away from "put-grow-and-take" fisheries toward "put-and-take" fisheries was noted. Limited creel data confirmed that fishing pressure in southern tailwaters was heavy, and that 25 to 90% of the trout stocked were recovered by anglers

  11. Growing Oppression, Growing Resistance : LGBT Activism and Europeanisation in Macedonia

    NARCIS (Netherlands)

    Miškovska Kajevska, A.; Bilić, B.

    2016-01-01

    This chapter provides one of the first socio-historical overviews of the LGBT groups in Macedonia and argues that an important impetus for the proliferation of LGBT activities has been the growing state-endorsed homophobia starting from 2008. The homophobic rhetoric of the ruling parties was clearly

  12. Artificial neural nets application in the cotton yarn industry

    Directory of Open Access Journals (Sweden)

    Gilberto Clóvis Antoneli

    2016-06-01

    Full Text Available The competitiveness in the yarn production sector has led companies to search for solutions to attain quality yarn at a low cost. Today, the difference between them, and thus the sector, is in the raw material, meaning processed cotton and its characteristics. There are many types of cotton with different characteristics due to its production region, harvest, storage and transportation. Yarn industries work with cotton mixtures, which makes it difficult to determine the quality of the yarn produced from the characteristics of the processed fibers. This study uses data from a conventional spinning, from a raw material made of 100% cotton, and presents a solution with artificial neural nets that determine the thread quality information, using the fibers’ characteristics values and settings of some process adjustments. In this solution a neural net of the type MultiLayer Perceptron with 11 entry neurons (8 characteristics of the fiber and 3 process adjustments, 7 output neurons (yarn quality and two types of training, Back propagation and Conjugate gradient descent. The selection and organization of the production data of the yarn industry of the cocamar® indústria de fios company are described, to apply the artificial neural nets developed. In the application of neural nets to determine yarn quality, one concludes that, although the ideal precision of absolute values is lacking, the presented solution represents an excellent tool to define yarn quality variations when modifying the raw material composition. The developed system enables a simulation to define the raw material percentage mixture to be processed in the plant using the information from the stocked cotton packs, thus obtaining a mixture that maintains the stability of the entire productive process.

  13. Do stock prices drive people crazy?

    Science.gov (United States)

    Lin, Chung-Liang; Chen, Chin-Shyan; Liu, Tsai-Ching

    2015-03-01

    This is the first research to examine a potential relation between stock market volatility and mental disorders. Using data on daily incidences of mental disorders in Taiwan over 4000 days from 1998 through 2009 to assess the time-series relation between stock price movements and mental disorders, we observe that stock price fluctuation clearly affects the hospitalization of mental disorders. We find that during a 12-year follow-up period, a low stock price index, a daily fall in the stock price index and consecutive daily falls in the stock price index are all associated with greater of mental disorders hospitalizations. A 1000-point fall in the TAIEX (Taiwan Stock Exchange Capitalization Weighted Stock Index) increases the number of daily mental disorders hospitalizations by 4.71%. A 1% fall in the TAIEX in one single day increases daily hospitalizations for mental disorders by 0.36%. When the stock price index falls one consecutive day, it causes a daily increase of approximately 0.32% hospitalizations due to mental disorders on that day. Stock price index is found to be significant for both gender and all age groups. In addition, daily change is significant for both gender and middle-age groups, whereas accumulated change is significant for males and people aged 45-64. Stockholdings can help people accumulate wealth, but they can also increase mental disorders hospitalizations. In other words, stock price fluctuations do drive people crazy. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine © The Author 2014; all rights reserved.

  14. .net

    Directory of Open Access Journals (Sweden)

    Le Comité de Rédaction d' EspacesTemps.net

    2002-06-01

    Full Text Available EspacesTemps lance aujourd'hui deux objets différents : un site internet et, sur ce site, Le Journal . Il s'agit donc de bien plus, et, au fond, de tout autre chose qu'un simple outil de communication destiné à informer nos lecteurs de nos parutions. Ce n'est pas non plus la « mise en ligne » de nos numéros-papier. L'internet nous donne au contraire l'occasion de réaliser, dans de meilleures conditions, ce que nous avons tenté de faire depuis quelques ...

  15. Caught in the Net: Perineuronal Nets and Addiction

    Directory of Open Access Journals (Sweden)

    Megan Slaker

    2016-01-01

    Full Text Available Exposure to drugs of abuse induces plasticity in the brain and creates persistent drug-related memories. These changes in plasticity and persistent drug memories are believed to produce aberrant motivation and reinforcement contributing to addiction. Most studies have explored the effect drugs of abuse have on pre- and postsynaptic cells and astrocytes; however, more recently, attention has shifted to explore the effect these drugs have on the extracellular matrix (ECM. Within the ECM are unique structures arranged in a net-like manner, surrounding a subset of neurons called perineuronal nets (PNNs. This review focuses on drug-induced changes in PNNs, the molecules that regulate PNNs, and the expression of PNNs within brain circuitry mediating motivation, reward, and reinforcement as it pertains to addiction.

  16. Army Net Zero Prove Out. Net Zero Energy Best Practices

    Science.gov (United States)

    2014-11-18

    recovery and cogeneration opportunities, offsetting the remaining demand with the production of renewable energy from onsite sources so that the Net...implementing energy recovery and cogeneration opportunities, and then offsetting the remaining demand with the production of renewable energy from on-site...they impact overall energy performance. The use of energy modeling in the design stage provides insights that can contribute to more effective design

  17. Net alkalinity and net acidity 2: Practical considerations

    Science.gov (United States)

    Kirby, C.S.; Cravotta, C.A.

    2005-01-01

    The pH, alkalinity, and acidity of mine drainage and associated waters can be misinterpreted because of the chemical instability of samples and possible misunderstandings of standard analytical method results. Synthetic and field samples of mine drainage having various initial pH values and concentrations of dissolved metals and alkalinity were titrated by several methods, and the results were compared to alkalinity and acidity calculated based on dissolved solutes. The pH, alkalinity, and acidity were compared between fresh, unoxidized and aged, oxidized samples. Data for Pennsylvania coal mine drainage indicates that the pH of fresh samples was predominantly acidic (pH 2.5-4) or near neutral (pH 6-7); ??? 25% of the samples had pH values between 5 and 6. Following oxidation, no samples had pH values between 5 and 6. The Standard Method Alkalinity titration is constrained to yield values >0. Most calculated and measured alkalinities for samples with positive alkalinities were in close agreement. However, for low-pH samples, the calculated alkalinity can be negative due to negative contributions by dissolved metals that may oxidize and hydrolyze. The Standard Method hot peroxide treatment titration for acidity determination (Hot Acidity) accurately indicates the potential for pH to decrease to acidic values after complete degassing of CO2 and oxidation of Fe and Mn, and it indicates either the excess alkalinity or that required for neutralization of the sample. The Hot Acidity directly measures net acidity (= -net alkalinity). Samples that had near-neutral pH after oxidation had negative Hot Acidity; samples that had pH mine drainage treatment can lead to systems with insufficient Alkalinity to neutralize metal and H+ acidity and is not recommended. The use of net alkalinity = -Hot Acidity titration is recommended for the planning of mine drainage treatment. The use of net alkalinity = (Alkalinitymeasured - Aciditycalculated) is recommended with some cautions

  18. The influence of bird netting on yield and fruit, juice, and wine composition of Vitis vinifera L.

    Directory of Open Access Journals (Sweden)

    Vinay Pagay

    2013-03-01

    Significance and impact of the study: Use of bird netting is becoming more prevalent by grape growers worldwide due to changing migratory patterns of birds that feed on grapes. This study shows that bird netting is not detrimental to yield and fruit and wine quality especially when applied early in the growing season.

  19. Cheap heat grows in fields

    International Nuclear Information System (INIS)

    Haluza, I.

    2006-01-01

    Slovak farmers resemble the peasants from the film T he Magnificent Seven . They keep complaining about their fate but consider any innovation as an interference. And that is why they still have not started growing fast-growing wood although the number of heating plants processing bio-mass from forests and fields is growing. Natural gas is expensive and coal creates pollution. Energy from biomass is becoming a good business and also creates new business opportunities - growing the raw material it needs. Such heating plants usually use waste from wood processing companies and Slovak Forests (Lesy SR) has also started deliveries of chip wood from old forests. There are plantations of fast growing wood suitable for heat production of over 500-thousand hectares throughout the EU. This is about 10% of Slovakian's area where the first plantations are also already being set up. The first promising plantation project was launched this spring. And this is not a project launched and backed by a big company but a starting up businessman, Miroslav Forgac from Kosice. He founded his company, Forgim, last winter. Without big money involved and thank to a new business idea he managed to persuade farmers to set up the first plantations. He supplied the seedlings and the business has started with 75 ha of plantations around Trnava, Sala, Komarno, Lucenec, Poprad and Kosice. He is gradually signing contracts with other landowners and next year the area of plantations is set to grow by 1500 ha. Plantations of fast growing trees such as willow, poplar and acacia regenerate by new trees growing out of the roots of the old and from cut trees so from one seedling and one investment there can be several harvests. Swedish willows from Forgim regenerate 20 to 25 years after the first planting. And only then new seedlings have to be purchased. Using special machines that even cut the wood to wood chips the plantations can be 'harvested' every three years. Unlike crops, the fields do not

  20. High-purity germanium crystal growing

    International Nuclear Information System (INIS)

    Hansen, W.L.; Haller, E.E.

    1982-10-01

    The germanium crystals used for the fabrication of nuclear radiation detectors are required to have a purity and crystalline perfection which is unsurpassed by any other solid material. These crystals should not have a net electrically active impurity concentration greater than 10 10 cm - 3 and be essentially free of charge trapping defects. Such perfect crystals of germanium can be grown only because of the highly favorable chemical and physical properties of this element. However, ten years of laboratory scale and commercial experience has still not made the production of such crystals routine. The origin and control of many impurities and electrically active defect complexes is now fairly well understood but regular production is often interrupted for long periods due to the difficulty of achieving the required high purity or to charge trapping in detectors made from crystals seemingly grown under the required conditions. The compromises involved in the selection of zone refining and crystal grower parts and ambients is discussed and the difficulty in controlling the purity of key elements in the process is emphasized. The consequences of growing in a hydrogen ambient are discussed in detail and it is shown how complexes of neutral defects produce electrically active centers

  1. THE EFFECT OF MACROECONOMIC VARIABLES ON STOCK RETURNS ON DHAKA STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Muhammed Monjurul Quadir

    2012-01-01

    Full Text Available This article investigates the effects of macroeconomic variables of treasury bill interest rate and industrial production on stock returns on Dhaka Stock Exchange for the period between January 2000 and February 2007 on the basis of monthly time series data using Autoregressive Integrated Moving Average (ARIMA model. The paper has taken the overall market stock returns as an independent variable. It does not consider the stock returns of different companies separately. Though the ARIMA model finds a positive relationship between Treasury bill interest rate and industrial production with market stock returns but the coefficients have turned out to be statistically insignificant.

  2. 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.

  3. 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…

  4. 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…

  5. 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

  6. 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

  7. 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.

  8. 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

  9. Recent market behavior of utility stocks

    International Nuclear Information System (INIS)

    Studness, C.M.

    1990-01-01

    This article reviews the recent market behavior of utility stocks as compared to the Standard and Poor's 500 and the long-term government bond yield. Utility stock's performance continues to be affected by unfavorable regulation,and it appears that it will continue to be a factor for some time to come. A continually shrinking excess capacity continues to be a concern

  10. SETS, arbitrage activity and stock price dynamics

    NARCIS (Netherlands)

    Taylor, N.; van Dijk, D.; Franses, P.H.; Lucas, A.

    2000-01-01

    This paper provides an empirical description of the relationship between the trading system operated by a stock exchange and the trading behaviour of heterogeneous investors who use the exchange. The recent introduction of SETS in the London Stock Exchange provides an excellent opportunity to study

  11. 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...

  12. 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 Section 24.217 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar...

  13. Efficient Circulation of Railway Rolling Stock

    NARCIS (Netherlands)

    Alfieri, A.; Groot, R.; Kroon, L.G.; Schrijver, A.

    2006-01-01

    Railway rolling stock (locomotives, carriages, and train units) is one of the most significant cost sources for operatorsof passenger trains, both public and private. Rolling stock costsare due to material acquisition, power supply, and material maintenance. The efficient circulation of rolling

  14. Efficient Circulation of Railway Rolling Stock

    NARCIS (Netherlands)

    A. Alfieri (Arianna); R. Groot (Rutger); L.G. Kroon (Leo); A. Schrijver (Lex)

    2002-01-01

    textabstractRailway rolling stock (locomotives, carriages, and train units) is one of the most significant cost sources for operatorsof passenger trains, both public and private. Rolling stock costsare due to material acquisition, power supply, and material maintenance. The efficient circulation of

  15. Net alkalinity and net acidity 1: Theoretical considerations

    International Nuclear Information System (INIS)

    Kirby, Carl S.; Cravotta, Charles A.

    2005-01-01

    Net acidity and net alkalinity are widely used, poorly defined, and commonly misunderstood parameters for the characterization of mine drainage. The authors explain theoretical expressions of 3 types of alkalinity (caustic, phenolphthalein, and total) and acidity (mineral, CO 2 , and total). Except for rarely-invoked negative alkalinity, theoretically defined total alkalinity is closely analogous to measured alkalinity and presents few practical interpretation problems. Theoretically defined 'CO 2 -acidity' is closely related to most standard titration methods with an endpoint pH of 8.3 used for determining acidity in mine drainage, but it is unfortunately named because CO 2 is intentionally driven off during titration of mine-drainage samples. Using the proton condition/mass-action approach and employing graphs to illustrate speciation with changes in pH, the authors explore the concept of principal components and how to assign acidity contributions to aqueous species commonly present in mine drainage. Acidity is defined in mine drainage based on aqueous speciation at the sample pH and on the capacity of these species to undergo hydrolysis to pH 8.3. Application of this definition shows that the computed acidity in mgL -1 as CaCO 3 (based on pH and analytical concentrations of dissolved Fe II , Fe III , Mn, and Al in mgL -1 ):acidity calculated =50{1000(10 -pH )+[2(Fe II )+3(Fe III )]/56+2(Mn) /55+3(Al)/27}underestimates contributions from HSO 4 - and H + , but overestimates the acidity due to Fe 3+ and Al 3+ . However, these errors tend to approximately cancel each other. It is demonstrated that 'net alkalinity' is a valid mathematical construction based on theoretical definitions of alkalinity and acidity. Further, it is shown that, for most mine-drainage solutions, a useful net alkalinity value can be derived from: (1) alkalinity and acidity values based on aqueous speciation (2) measured alkalinity minus calculated acidity, or (3) taking the negative of the

  16. Net alkalinity and net acidity 1: Theoretical considerations

    Science.gov (United States)

    Kirby, C.S.; Cravotta, C.A.

    2005-01-01

    Net acidity and net alkalinity are widely used, poorly defined, and commonly misunderstood parameters for the characterization of mine drainage. The authors explain theoretical expressions of 3 types of alkalinity (caustic, phenolphthalein, and total) and acidity (mineral, CO2, and total). Except for rarely-invoked negative alkalinity, theoretically defined total alkalinity is closely analogous to measured alkalinity and presents few practical interpretation problems. Theoretically defined "CO 2-acidity" is closely related to most standard titration methods with an endpoint pH of 8.3 used for determining acidity in mine drainage, but it is unfortunately named because CO2 is intentionally driven off during titration of mine-drainage samples. Using the proton condition/mass- action approach and employing graphs to illustrate speciation with changes in pH, the authors explore the concept of principal components and how to assign acidity contributions to aqueous species commonly present in mine drainage. Acidity is defined in mine drainage based on aqueous speciation at the sample pH and on the capacity of these species to undergo hydrolysis to pH 8.3. Application of this definition shows that the computed acidity in mg L -1 as CaCO3 (based on pH and analytical concentrations of dissolved FeII, FeIII, Mn, and Al in mg L -1):aciditycalculated=50{1000(10-pH)+[2(FeII)+3(FeIII)]/56+2(Mn)/ 55+3(Al)/27}underestimates contributions from HSO4- and H+, but overestimates the acidity due to Fe3+ and Al3+. However, these errors tend to approximately cancel each other. It is demonstrated that "net alkalinity" is a valid mathematical construction based on theoretical definitions of alkalinity and acidity. Further, it is shown that, for most mine-drainage solutions, a useful net alkalinity value can be derived from: (1) alkalinity and acidity values based on aqueous speciation, (2) measured alkalinity minus calculated acidity, or (3) taking the negative of the value obtained in a

  17. Exploring Classroom Hydroponics. Growing Ideas.

    Science.gov (United States)

    National Gardening Association, Burlington, VT.

    Growing Ideas, the National Gardening Association's series for elementary, middle, and junior high school educators, helps teachers engage students in using plants and gardens as contexts for developing a deeper, richer understanding of the world around them. This volume's focus is on hydroponics. It presents basic hydroponics information along…

  18. Organization of growing random networks

    Energy Technology Data Exchange (ETDEWEB)

    Krapivsky, P. L.; Redner, S.

    2001-06-01

    The organizational development of growing random networks is investigated. These growing networks are built by adding nodes successively, and linking each to an earlier node of degree k with an attachment probability A{sub k}. When A{sub k} grows more slowly than linearly with k, the number of nodes with k links, N{sub k}(t), decays faster than a power law in k, while for A{sub k} growing faster than linearly in k, a single node emerges which connects to nearly all other nodes. When A{sub k} is asymptotically linear, N{sub k}(t){similar_to}tk{sup {minus}{nu}}, with {nu} dependent on details of the attachment probability, but in the range 2{lt}{nu}{lt}{infinity}. The combined age and degree distribution of nodes shows that old nodes typically have a large degree. There is also a significant correlation in the degrees of neighboring nodes, so that nodes of similar degree are more likely to be connected. The size distributions of the in and out components of the network with respect to a given node{emdash}namely, its {open_quotes}descendants{close_quotes} and {open_quotes}ancestors{close_quotes}{emdash}are also determined. The in component exhibits a robust s{sup {minus}2} power-law tail, where s is the component size. The out component has a typical size of order lnt, and it provides basic insights into the genealogy of the network.

  19. Growing an Emerging Research University

    Science.gov (United States)

    Birx, Donald L.; Anderson-Fletcher, Elizabeth; Whitney, Elizabeth

    2013-01-01

    The emerging research college or university is one of the most formidable resources a region has to reinvent and grow its economy. This paper is the first of two that outlines a process of building research universities that enhance regional technology development and facilitate flexible networks of collaboration and resource sharing. Although the…

  20. Growing Crystals on the Ceiling.

    Science.gov (United States)

    Christman, Robert A.

    1980-01-01

    Described is a method of studying growing crystals in a classroom utilizing a carrousel projector standing vertically. A saturated salt solution is placed on a slide on the lens of the projector and the heat from the projector causes the water to evaporate and salt to crystalize. (Author/DS)

  1. Agglomerative clustering of growing squares

    NARCIS (Netherlands)

    Castermans, Thom; Speckmann, Bettina; Staals, Frank; Verbeek, Kevin; Bender, M.A.; Farach-Colton, M.; Mosteiro, M.A.

    2018-01-01

    We study an agglomerative clustering problem motivated by interactive glyphs in geo-visualization. Consider a set of disjoint square glyphs on an interactive map. When the user zooms out, the glyphs grow in size relative to the map, possibly with different speeds. When two glyphs intersect, we wish

  2. Inferences from growing trees backwards

    Science.gov (United States)

    David W. Green; Kent A. McDonald

    1997-01-01

    The objective of this paper is to illustrate how longitudinal stress wave techniques can be useful in tracking the future quality of a growing tree. Monitoring the quality of selected trees in a plantation forest could provide early input to decisions on the effectiveness of management practices, or future utilization options, for trees in a plantation. There will...

  3. COFFEE GROWING AREAS OF ETHIOPIA"

    African Journals Online (AJOL)

    accelerated economic growth, part of which is hoped to be achieved via increased ... at the Fifth International Conference on the Ethiopian Economy held at the United ... Samuel and Ludi: Agricultural commercialisation in coffee growing areas. ... Ethiopia produces and exports one of the best fighland coffees in the world.

  4. 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.

  5. 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.

  6. Les dispositifs du Net art

    OpenAIRE

    Fourmentraux, Jean-Paul

    2010-01-01

    La pratique du Net art radicalise la question du potentiel communicationnel d’un média —Internet— qui constitue tout à la fois le support technique, l’outil créatif et le dispositif social de l’œuvre. Les technologies de l’information et de la communication (TIC) placent en effet l’œuvre d’art au cœur d’une négociation socialement distribuée entre l’artiste et le public. L’article est focalisé sur cette construction collective du Net art et sur ses mises en scènes. Il montre le travail artist...

  7. Complexity Metrics for Workflow Nets

    DEFF Research Database (Denmark)

    Lassen, Kristian Bisgaard; van der Aalst, Wil M.P.

    2009-01-01

    analysts have difficulties grasping the dynamics implied by a process model. Recent empirical studies show that people make numerous errors when modeling complex business processes, e.g., about 20 percent of the EPCs in the SAP reference model have design flaws resulting in potential deadlocks, livelocks......, etc. It seems obvious that the complexity of the model contributes to design errors and a lack of understanding. It is not easy to measure complexity, however. This paper presents three complexity metrics that have been implemented in the process analysis tool ProM. The metrics are defined...... for a subclass of Petri nets named Workflow nets, but the results can easily be applied to other languages. To demonstrate the applicability of these metrics, we have applied our approach and tool to 262 relatively complex Protos models made in the context of various student projects. This allows us to validate...

  8. dotNet som multimediaplattform

    OpenAIRE

    Johansson, Glenn

    2008-01-01

    As the speed and complexity of computers have increased so have software and the expectations of users. Software development follows a straightforward evolution where complicated tasks are made easier by better tools; this repeats itself as those tasks in turn are automated. Software mechanics that were seen as revolutionary a decade ago are seen as obvious requirements that no multimedia application can be without. dotNet is the next step in line and makes it easier and faster to build softw...

  9. NET model coil test possibilities

    International Nuclear Information System (INIS)

    Erb, J.; Gruenhagen, A.; Herz, W.; Jentzsch, K.; Komarek, P.; Lotz, E.; Malang, S.; Maurer, W.; Noether, G.; Ulbricht, A.; Vogt, A.; Zahn, G.; Horvath, I.; Kwasnitza, K.; Marinucci, C.; Pasztor, G.; Sborchia, C.; Weymuth, P.; Peters, A.; Roeterdink, A.

    1987-11-01

    A single full size coil for NET/INTOR represents an investment of the order of 40 MUC (Million Unit Costs). Before such an amount of money or even more for the 16 TF coils is invested as much risks as possible must be eliminated by a comprehensive development programme. In the course of such a programme a coil technology verification test should finally prove the feasibility of NET/INTOR TF coils. This study report is almost exclusively dealing with such a verification test by model coil testing. These coils will be built out of two Nb 3 Sn-conductors based on two concepts already under development and investigation. Two possible coil arrangements are discussed: A cluster facility, where two model coils out of the two Nb 3 TF-conductors are used, and the already tested LCT-coils producing a background field. A solenoid arrangement, where in addition to the two TF model coils another model coil out of a PF-conductor for the central PF-coils of NET/INTOR is used instead of LCT background coils. Technical advantages and disadvantages are worked out in order to compare and judge both facilities. Costs estimates and the time schedules broaden the base for a decision about the realisation of such a facility. (orig.) [de

  10. NET-2 Network Analysis Program

    International Nuclear Information System (INIS)

    Malmberg, A.F.

    1974-01-01

    The NET-2 Network Analysis Program is a general purpose digital computer program which solves the nonlinear time domain response and the linearized small signal frequency domain response of an arbitrary network of interconnected components. NET-2 is capable of handling a variety of components and has been applied to problems in several engineering fields, including electronic circuit design and analysis, missile flight simulation, control systems, heat flow, fluid flow, mechanical systems, structural dynamics, digital logic, communications network design, solid state device physics, fluidic systems, and nuclear vulnerability due to blast, thermal, gamma radiation, neutron damage, and EMP effects. Network components may be selected from a repertoire of built-in models or they may be constructed by the user through appropriate combinations of mathematical, empirical, and topological functions. Higher-level components may be defined by subnetworks composed of any combination of user-defined components and built-in models. The program provides a modeling capability to represent and intermix system components on many levels, e.g., from hole and electron spatial charge distributions in solid state devices through discrete and integrated electronic components to functional system blocks. NET-2 is capable of simultaneous computation in both the time and frequency domain, and has statistical and optimization capability. Network topology may be controlled as a function of the network solution. (U.S.)

  11. 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.

  12. Solving the Problem of Relocation of Residents from Old and Unfit Housing Stock

    Directory of Open Access Journals (Sweden)

    Prokopovich Vladimir Pavlovich

    2014-06-01

    Full Text Available The speed of construction does not solve the problem of relocating the residents from old and unfit housing stock, the number of which exceeds the maximum permissible values. To assess housing stock condition, the author uses a model describing the path traversed by an accelerated body. The graphic analogue of model is a coil spring with a variable, increasing step, from which it follows that the volume of old and unfit housing stock is growing exponentially. The proposed model helps to project possible consequences of slow relocation, to plan necessary annual volume of new construction for relocation of the residents, as well as to assess the additional resources for preventing accidents.

  13. R&D Expenses and Share Value in The Japanese Stock Market

    Directory of Open Access Journals (Sweden)

    Sophie Nivoix

    2014-11-01

    Full Text Available The growing influence of technology in business activities is driving many firms to devote a greater amount of resources to research and development. It is therefore crucial to understand how the stock market evaluates the benefits of R&D. In this paper, our aim is to investigate whether Japanese investors have rewarded firms that heavily invest in R&D. We first document that R&D expenses have remained fairly stable relative to sales in the past eight years, but with large variations within and between industries. We then show that R&Dfirms have achieved a higher return relative to non-R&D firms. However, our regressions and investment simulations indicate that the relation between R&D intensity and stock returns is not significant, suggesting that the Japanese stock market is semi-strong efficient.

  14. The Financial Safety Net – a Necessity in a Turbulent Financial World

    Directory of Open Access Journals (Sweden)

    Peter BALOGH

    2011-11-01

    Full Text Available Over the last years we observed that whenever crisis hits, interest in guarantee arrangements rises. The current financial crisis is no exception in this respect. It turns the spotlight on the operation of the financial safety net and provides policy makers with a unique opportunity to monitor its performance and, more specifically, to identify its strengths and weaknesses. This paper focuses on the way parts of the financial safety net work and places a special emphasis on the growing role of these safety nets in our turbulent financial world.

  15. The Uniframe .Net Web Service Discovery Service

    National Research Council Canada - National Science Library

    Berbeco, Robert W

    2003-01-01

    Microsoft .NET allows the creation of distributed systems in a seamless manner Within NET small, discrete applications, referred to as Web services, are utilized to connect to each other or larger applications...

  16. Long Term RadNet Quality Data

    Data.gov (United States)

    U.S. Environmental Protection Agency — This RadNet Quality Data Asset includes all data since initiation and when ERAMS was expanded to become RadNet, name changed to reflect new mission. This includes...

  17. Special Section on Coloured Petri Nets

    DEFF Research Database (Denmark)

    1998-01-01

    Special section on coloured Petri nets, their basic concepts, analysis methods, tool support and industrial applications.......Special section on coloured Petri nets, their basic concepts, analysis methods, tool support and industrial applications....

  18. Stream Clustering of Growing Objects

    Science.gov (United States)

    Siddiqui, Zaigham Faraz; Spiliopoulou, Myra

    We study incremental clustering of objects that grow and accumulate over time. The objects come from a multi-table stream e.g. streams of Customer and Transaction. As the Transactions stream accumulates, the Customers’ profiles grow. First, we use an incremental propositionalisation to convert the multi-table stream into a single-table stream upon which we apply clustering. For this purpose, we develop an online version of K-Means algorithm that can handle these swelling objects and any new objects that arrive. The algorithm also monitors the quality of the model and performs re-clustering when it deteriorates. We evaluate our method on the PKDD Challenge 1999 dataset.

  19. Millennium bim managing growing demand

    OpenAIRE

    Lopes, Francisca Barbosa Malpique de Paiva

    2014-01-01

    Millennium bim, the Mozambican operation of Millennium bcp group, was the Company selected to serve as background for the development of a teaching case in Marketing. This case is followed by a teaching note, and is intended to be used as a pedagogical tool in undergraduate and/or graduate programs. Even though Mozambique is still characterized by high financial exclusion, the number of people entering within the banking industry has been growing at a fast pace. Actually, the demand for fi...

  20. How do normal faults grow?

    OpenAIRE

    Blækkan, Ingvild; Bell, Rebecca; Rotevatn, Atle; Jackson, Christopher; Tvedt, Anette

    2018-01-01

    Faults grow via a sympathetic increase in their displacement and length (isolated fault model), or by rapid length establishment and subsequent displacement accrual (constant-length fault model). To test the significance and applicability of these two models, we use time-series displacement (D) and length (L) data extracted for faults from nature and experiments. We document a range of fault behaviours, from sympathetic D-L fault growth (isolated growth) to sub-vertical D-L growth trajectorie...

  1. Impact of Dividend Taxation Changing on Dividend Policy of Romanian Companies Listed on Stock Market

    Directory of Open Access Journals (Sweden)

    Stela JAKOVA

    2017-09-01

    Full Text Available The aim of this paper is to analyze factors (with an influence on value of transactions on stock exchange which induce companies listed on Bucharest Stock Exchange to pay dividends for period 2008 – 2015. First we will estimate five regression models, taking into account some financial and macroeconomics variables. Second we will rebuild these five regression models including a dummy variable which indicates the change of dividend tax rate. Our analyses emphasized the fact that net income, liquidity index, BET return and total assets have a significant effect on dividend payment policy which keeps their significance also after introducing the dummy variable, except the BET rate which decreased its significance. Also only the change of dividend tax rate and net income have a positively significant impact over dividend payment policy of Romanian ‘companies. The findings from this study are useful to be taken in account by the board of managers of companies when they decide the dividend policy for the company. In the same time our study extends the existing literature on this topic, by analyzing the impact of the most recent change in dividend tax rate from 2015, and also by extending the factors which affect the dividend policy of the companies listed on stock exchange.

  2. Urban soils as hotspots of anthropogenic carbon accumulation: Review of stocks, mechanisms and factors

    Science.gov (United States)

    Vasenev, Viacheslav; Kuzyakov, Yakov

    2017-04-01

    Urban soils and cultural layers accumulate carbon (C) over centuries and consequently large C stocks are sequestered below the cities. These C stocks as well as the full range of processes and mechanisms leading to high C accumulation in urban soils remain unknown. We collected data on organic (SOC), inorganic (SOC) and black (pyrogenic) (BC) C content in urban and natural soils from 100 papers based on Scopus and Web-of-Knowledge databases. The yielded database includes 770 values on SOC, SIC and BC stocks from 118 cities worldwide. The collected data were analyzed considering the effects of climatic conditions and urban-specific factors: city size, age and functional zoning. For the whole range of climatic conditions, the C contents in urban soils were 1.5-3 times higher than in respective natural soils. This higher C content and much deeper C accumulation in urban soils resulted in 3 to 5 times higher C stocks compared to natural soils. Urban SOC stocks were positively correlated with latitude, whereas SIC stocks were less affected by climate. The city size and age were the main factors controlling intra-city variability of C stocks with higher stocks in small cities compared to megapolises and in medieval compared to new cities. The inter-city variability of C stocks was dominated by functional zoning: large SOC and N stocks in residential areas and large SIC and BC stocks in industrial zones and roadsides were similar for all climates and for cities of different size and age. Substantial stocks of SOC, SIC and N were sequestered for long-term in the subsoils and cultural layers of the sealed soils, which underline the importance of these 'hidden' stocks for C assessments. Typical and specific for urban soils is that the anthropogenic factor overshadows the other five factors of soil formation. Substantial C stocks in urban soils and cultural layers result from specific mechanisms of C accumulation in cities: i) large and long-term C inputs from outside the

  3. Analysing News for Stock Market Prediction

    Science.gov (United States)

    Ramalingam, V. V.; Pandian, A.; Dwivedi, shivam; Bhatt, Jigar P.

    2018-04-01

    Stock market means the aggregation of all sellers and buyers of stocks representing their ownership claims on the business. To be completely absolute about the investment on these stocks, proper knowledge about them as well as their pricing, for both present and future is very essential. Large amount of data is collected and parsed to obtain this essential information regarding the fluctuations in the stock market. This data can be any news or public opinions in general. Recently, many methods have been used, especially big unstructured data methods to predict the stock market values. We introduce another method of focusing on deriving the best statistical learning model for predicting the future values. The data set used is very large unstructured data collected from an online social platform, commonly known as Quindl. The data from this platform is then linked to a csv fie and cleaned to obtain the essential information for stock market prediction. The method consists of carrying out the NLP (Natural Language Processing) of the data and then making it easier for the system to understand, finds and identifies the correlation in between this data and the stock market fluctuations. The model is implemented using Python Programming Language throughout the entire project to obtain flexibility and convenience of the system.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. Net energy analysis in a Ramsey–Hotelling growth model

    International Nuclear Information System (INIS)

    Macías, Arturo; Matilla-García, Mariano

    2015-01-01

    This article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). In our knowledge this is the first paper where EROI fits in a neoclassical growth model (with individual utility maximization and market equilibrium), establishing the economic use of “net energy analysis” on a firmer theoretical ground. All necessary concepts to link neoclassical economics and EROI are discussed before their use in the model, and a comparative static analysis of the steady states of a simplified version of the model is presented. - Highlights: • A neoclassical growth model with EROI (“Energy Return on Energy Invested”) is shown • All concepts linking neoclassical economics and net energy analysis are discussed • Any EROI decline can be compensated increasing gross activity in the energy sector. • The economic impact of EROI depends on some non-energy cost in the energy sector. • Comparative steady-state statics for different EROI levels is performed and discussed. • Policy implications are suggested.

  9. NetBeans IDE 8 cookbook

    CERN Document Server

    Salter, David

    2014-01-01

    If you're a Java developer of any level using NetBeans and want to learn how to get the most out of NetBeans, then this book is for you. Learning how to utilize NetBeans will provide a firm foundation for your Java application development.

  10. History-dependent stochastic Petri nets

    NARCIS (Netherlands)

    Schonenberg, H.; Sidorova, N.; Aalst, van der W.M.P.; Hee, van K.M.; Pnueli, A.; Virbitskaite, I.; Voronkov, A.

    2010-01-01

    Stochastic Petri Nets are a useful and well-known tool for performance analysis. However, an implicit assumption in the different types of Stochastic Petri Nets is the Markov property. It is assumed that a choice in the Petri net only depends on the current state and not on earlier choices. For many

  11. Putting Petri nets to work in Industry

    NARCIS (Netherlands)

    Aalst, van der W.M.P.

    1994-01-01

    Petri nets exist for over 30 years. Especially in the last decade Petri nets have been put into practive extensively. Thanks to several useful extensions and the availability of computer tools, Petri nets have become a mature tool for modelling and analysing industrial systems. This paper describes

  12. Aplicació Microsoft .Net : Hotel Spa

    OpenAIRE

    Marquès Palmer, Jordi

    2010-01-01

    Desenvolupament d'una aplicació amb Microsoft .NET, WCF, WPF, Linq2SQL, d'un Hotel Spa. Desarrollo de una aplicación con Microsoft .NET, WCF, WPF, Linq2SQL, de un Hotel Spa. Application development using Microsoft .NET, WCF, WPF, Linq2SQL, for a Spa Hotel.

  13. Delta Semantics Defined By Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt; Kyng, Morten; Madsen, Ole Lehrmann

    and the possibility of using predicates to specify state changes. In this paper a formal semantics for Delta is defined and analysed using Petri nets. Petri nets was chosen because the ideas behind Petri nets and Delta concide on several points. A number of proposals for changes in Delta, which resulted from...

  14. The K-NET - A year after

    International Nuclear Information System (INIS)

    Kinoshita, S.; Ohtani, K.; Katayama, T.

    2001-01-01

    We started to release the K-NET strong-motion data from June 1996 and about one year passed. In this article, we report the development of K-NET and some applications using the K-NET information released on the Internet. (author)

  15. 47 CFR 65.500 - Net income.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Net income. 65.500 Section 65.500... OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Interexchange Carriers § 65.500 Net income. The net income methodology specified in § 65.450 shall be utilized by all interexchange carriers that are...

  16. 47 CFR 65.450 - Net income.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Net income. 65.450 Section 65.450... OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES Exchange Carriers § 65.450 Net income. (a) Net income shall consist of all revenues derived from the provision of interstate telecommunications services...

  17. INMARSAT-C SafetyNET

    Science.gov (United States)

    Tsunamis 406 EPIRB's National Weather Service Marine Forecasts INMARSAT-C SafetyNET Marine Forecast Offices greater danger near shore or any shallow waters? NATIONAL WEATHER SERVICE PRODUCTS VIA INMARSAT-C SafetyNET Inmarsat-C SafetyNET is an internationally adopted, automated satellite system for promulgating

  18. Appendix 2: Risk-based framework and risk case studies. Risk case study: a framework for assessing climate change risks to forest carbon stocks

    Science.gov (United States)

    Christopher W. Woodall; Grant M. Domke

    2012-01-01

    Forest ecosystems have the ability to reduce the effects of climate change through the sequestration of carbon (C) (Pan et al. 2011) as well as contribute to net emissions through disturbance events such as wildfires and widespread tree mortality (Kurz et al. 2008). A conceptual framework for assessing climate-change risks to forest ecosystem C stocks facilitates...

  19. Financing R & D with Knowledge Stock Rentals

    OpenAIRE

    John M. Hartwick

    1993-01-01

    We set out an endogenous growth model along the lines of Romer(1990) and investigate the implications of financing new knowledge production (R&D) with rental income accruing to the knowledge stock used in goods production. The knowledge stock is a non-public input in goods production. The balance growth rate under optimal growth can be greater or less than that under the invest knowledge stock rentals regime depends on the parameters of the production function and not on the parameters of pre...

  20. 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...

  1. UNDERGROUND ECONOMY, GDP AND STOCK MARKET

    Directory of Open Access Journals (Sweden)

    Caus Vasile Aurel

    2012-07-01

    Full Text Available Economic growth is affected by the size and dynamics of underground economy. Determining this size is a subject of research for many authors. In this paper we present the relationship between underground economy dynamics and the dynamics of stock markets. The observations are based on regression used by Tanzi (1983 and the relationship between GDP and stock market presented in Tudor (2008. The conclusion of this paper is that the dynamics of underground economy is influenced by dynamic of financial markets. Thus, using specific stock market mathematical tools analysis, one can analyze the dynamic of underground economy

  2. 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....

  3. Twitter as driver of stock price

    OpenAIRE

    Jubbega, Annika

    2012-01-01

    The goal of this research is to examine the dynamic relationship of Twitter and stock price, by examining the effects for the ten most valuable brands according Interbrand (2010): Coca-Cola, IBM, Microsoft, Google, McDonald’s, Intel, Nokia, Disney, Toyota and Cisco. A VAR modelling approach captures the short and long term effects of Twitter to stock price and stock price to Twitter. Effects were found for 5 of the 10 brand. For Coca-Cola and Toyota, the number of brand sentiment tweets dri...

  4. Fish stocking density impacts tank hydrodynamics

    DEFF Research Database (Denmark)

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

    2006-01-01

    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...... 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...

  5. NET 40 Generics Beginner's Guide

    CERN Document Server

    Mukherjee, Sudipta

    2012-01-01

    This is a concise, practical guide that will help you learn Generics in .NET, with lots of real world and fun-to-build examples and clear explanations. It is packed with screenshots to aid your understanding of the process. This book is aimed at beginners in Generics. It assumes some working knowledge of C# , but it isn't mandatory. The following would get the most use out of the book: Newbie C# developers struggling with Generics. Experienced C++ and Java Programmers who are migrating to C# and looking for an alternative to other generic frameworks like STL and JCF would find this book handy.

  6. Co-integration and Causality Among Jakarta Stock Exchange, Singapore Stock Exchange, and Kuala Lumpur Stock Exchange

    OpenAIRE

    Febrian, Erie; Herwany, Aldrin

    2007-01-01

    For both risk management and portfolio selection purposes, modeling the linkage across financial markets is crucial, especially among neighboring stock markets. In investigating the dependence or co-movement of three or more stock markets in different countries, researchers frequently use co-integration and causality analysis. Nevertheless, they conducted the causality in mean tests but not the causality in variance tests. This paper examines the co-integration and causal relations among ...

  7. Net profit flow per country from 1980 to 2009: The long-term effects of foreign direct investment

    Science.gov (United States)

    2017-01-01

    Aim of the paper The paper aims at describing and explaining net profit flows per country for the period 1980–2009. Net profit flows result from Foreign Direct Investment (FDI) stock and profit repatriation: inward stock creating a profit outflow and outward FDI stock a profit inflow. Profit flows, especially ‘normal’ ones are not commonly researched. Theoretical background According to world-system theory, countries are part of a system characterised by a core, semi-periphery and periphery, as shown by network analyses of trade relations. Network analyses based on ownership relations of TransNational Corporations (TNCs) show that the top 50 firms that control about 40% of the world economy are almost exclusively located in core countries. So, we may expect a hierarchy in net profit flows with core countries on top and the periphery at the bottom. FDI outflows from the core countries especially rose in the 1990s, so we may expect that the difference has grown in time. Data and results A dataset on 'net profit flow' per country is developed. There are diverging developments in net profit flows since the 1980s, as expected: ever more positive for core countries, negative and ever lower for semi-peripheral and peripheral countries, in particular from the 1990s onwards. A fixed effects quantile regression using publicly available data confirms the prediction that peripheral countries share a unique characteristic: their outward investments do not have a positive influence on net profit flow as is the case with semi-peripheral and core countries. The most probable explanation is that peripheral outward investments are indirectly owned by firms located in core and semi-peripheral countries, so all peripheral profit inflows end up in those countries. PMID:28654644

  8. Net profit flow per country from 1980 to 2009: The long-term effects of foreign direct investment.

    Science.gov (United States)

    Akkermans, Dirk H M

    2017-01-01

    The paper aims at describing and explaining net profit flows per country for the period 1980-2009. Net profit flows result from Foreign Direct Investment (FDI) stock and profit repatriation: inward stock creating a profit outflow and outward FDI stock a profit inflow. Profit flows, especially 'normal' ones are not commonly researched. According to world-system theory, countries are part of a system characterised by a core, semi-periphery and periphery, as shown by network analyses of trade relations. Network analyses based on ownership relations of TransNational Corporations (TNCs) show that the top 50 firms that control about 40% of the world economy are almost exclusively located in core countries. So, we may expect a hierarchy in net profit flows with core countries on top and the periphery at the bottom. FDI outflows from the core countries especially rose in the 1990s, so we may expect that the difference has grown in time. A dataset on 'net profit flow' per country is developed. There are diverging developments in net profit flows since the 1980s, as expected: ever more positive for core countries, negative and ever lower for semi-peripheral and peripheral countries, in particular from the 1990s onwards. A fixed effects quantile regression using publicly available data confirms the prediction that peripheral countries share a unique characteristic: their outward investments do not have a positive influence on net profit flow as is the case with semi-peripheral and core countries. The most probable explanation is that peripheral outward investments are indirectly owned by firms located in core and semi-peripheral countries, so all peripheral profit inflows end up in those countries.

  9. 17 CFR 270.2a-4 - Definition of “current net asset value” for use in computing periodically the current price of...

    Science.gov (United States)

    2010-04-01

    ... value between calculations made as of the close of the New York Stock Exchange on the preceding business... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Definition of âcurrent net... Section 270.2a-4 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) RULES...

  10. GENETIC DIVERSITY OF Vibrio harveyi ISOLATED FROM TIGER PRAWN Penaeus monodon HATCHERIES AND GROW OUT PONDS

    OpenAIRE

    Muliani Muliani; Ince Ayu Khairana Kadriah; Andi Parenrengi; Sulaeman Sulaeman

    2006-01-01

    ibrio harveyi is known as one among the most harmful bacteria infecting tiger prawn at every stage of its life’s. The present research was aimed to reveal the genetic diversity of Vibrio harveyi isolated from tiger prawn (Penaeus monodon) culture. The samples of bacteria were collected from hatchery (brood-stock, larvae, natural feed, artemia, and larval rearing water) and grow-out (juveniles, water, shrimp, sediment, plankton, crab, mollusc, microalgae, and wild fish).  The taxonomic identif...

  11. The effects of crude oil shocks on stock market shifts behaviour A regime switching approach

    Energy Technology Data Exchange (ETDEWEB)

    Aloui, Chaker; Jammazi, Rania [International Finance Group-Tunisia, Faculty of Management and Economic Sciences of Tunis, Boulevard du 7 novembre, El Manar University, B.P. 248, C.P. 2092, Tunis Cedex (Tunisia)

    2009-09-15

    In this paper we develop a two regime Markov-switching EGARCH model introduced by Henry [Henry, O., 2009. Regime switching in the relationship between equity returns and short-term interest rates. Journal of Banking and Finance 33, 405-414.] to examine the relationship between crude oil shocks and stock markets. An application to stock markets of UK, France and Japan over the sample period January 1989 to December 2007 illustrates plausible results. We detect two episodes of series behaviour one relative to low mean/high variance regime and the other to high mean/low variance regime. Furthermore, there is evidence that common recessions coincide with the low mean/high variance regime. In addition, we allow both real stock returns and probability of transitions from one regime to another to depend on the net oil price increase variable. The findings show that rises in oil price has a significant role in determining both the volatility of stock returns and the probability of transition across regimes. (author)

  12. The effects of crude oil shocks on stock market shifts behaviour A regime switching approach

    International Nuclear Information System (INIS)

    Aloui, Chaker; Jammazi, Rania

    2009-01-01

    In this paper we develop a two regime Markov-switching EGARCH model introduced by Henry [Henry, O., 2009. Regime switching in the relationship between equity returns and short-term interest rates. Journal of Banking and Finance 33, 405-414.] to examine the relationship between crude oil shocks and stock markets. An application to stock markets of UK, France and Japan over the sample period January 1989 to December 2007 illustrates plausible results. We detect two episodes of series behaviour one relative to low mean/high variance regime and the other to high mean/low variance regime. Furthermore, there is evidence that common recessions coincide with the low mean/high variance regime. In addition, we allow both real stock returns and probability of transitions from one regime to another to depend on the net oil price increase variable. The findings show that rises in oil price has a significant role in determining both the volatility of stock returns and the probability of transition across regimes. (author)

  13. THE EFFECT OF MACROECONOMIC VARIABLES ON BANKING STOCK PRICE INDEX IN INDONESIA STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Laduna R.

    2018-01-01

    Full Text Available Stock price index can be regarded as a barometer in the measuremet of a nation’s economic condition, besides it can also be used in conducting statistical analysis on the current market. Stock is the proof of one’s share in a company in the form of securities issued by the listed go-public companies. This study was conducted to measure the effect of macroeconomic variables such as inflation, interest rate, and exchange rate on banking stock price index in Indonesia stock exchange or Bursa Efek Indonesia (BEI. The results of study show that inflation and exchange rate posively influence the stock price index. The positive effect of the exchange rate shows that issuers who were positively affected by Rupiah (IDR depreciation appear to be the most dominant group. Meanwhile, the interest rate or Suku Bunga (SBI has a negative effect. Lower interest rate stimulates higher investments and better economic activities which increase the stock price.

  14. Towards a Standard for Modular Petri Nets

    DEFF Research Database (Denmark)

    Kindler, Ekkart; Petrucci, Laure

    2009-01-01

    concepts could or should be subject to import and export in high-level Petri nets. In this paper, we formalise a minimal version of modular high-level Petri nets, which is based on the concepts of modular PNML. This shows that modular PNML can be formalised once a specific version of Petri net is fixed....... Moreover, we present and discuss some more advanced features of modular Petri nets that could be included in the standard. This way, we provide a formal foundation and a basis for a discussion of features to be included in the upcoming standard of a module concept for Petri nets in general and for high-level...

  15. Dental implants in growing children

    Directory of Open Access Journals (Sweden)

    S K Mishra

    2013-01-01

    Full Text Available The replacement of teeth by implants is usually restricted to patients with completed craniofacial growth. The aim of this literature review is to discuss the use of dental implants in normal growing patients and in patients with ectodermal dysplasia and the influence of maxillary and mandibular skeletal and dental growth on the stability of those implants. It is recommended that while deciding the optimal individual time point of implant insertion, the status of skeletal growth, the degree of hypodontia, and extension of related psychological stress should be taken into account, in addition to the status of existing dentition and dental compliance of a pediatric patient.

  16. Torsion of a growing shaft

    Directory of Open Access Journals (Sweden)

    Alexander V. Manzhirov

    2017-12-01

    Full Text Available The torsion of a shaft by rigid disks is considered. The shaft has the form of circular cylinder. Two rigid disks are attached to its end faces. The process of continuous growth of such shaft under the influence of twisting torques applied to the disks is studied. Dual series equations which reflect the mathematical content of the problem at the different stages of the growing process are derived and solved. Results of the numerical analysis and singularities of the qualitative mechanical behaviour of the fundamental characteristics are discussed.

  17. Growing energy demand - environmental impact

    International Nuclear Information System (INIS)

    Rama Rao, G.A.

    2012-01-01

    Scientists can bring information, insights, and analytical skills to bear on matters of public concern. Often they can help the public and its representatives to understand the likely causes of events (such as natural and technological disasters) and to estimate the possible effects of projected policies. Often they can testify to what is not possible. Even so, scientists can seldom bring definitive answers to matters of public debate. Some issues are too complex to fit within the current scope of science, or there may be little reliable information available, or the values involved may lie outside of science. Scientists and technologists strive to find an answer to the growing energy demand

  18. Residential building stocks and flows as dynamic systems: Chilean dwelling stock and energy modeling, including earthquakes.

    OpenAIRE

    Gallardo, Carla

    2012-01-01

    The building sector comprises a very important part of each country s economy, playing an important role in the consumption of resources and energy. In practice there is little knowledge on how the building stock develops. It is useful then to understand the dynamics and the metabolism of the built environment. Research on building stocks, predominantly on the residential sector, has been performed mainly for developed countries. There is little or none research on building stock for developi...

  19. Market Performance and Accounting Information as the Reference of Stocks Portfolio Formation in Indonesia Stock Exchange

    OpenAIRE

    Pasaribu, Rowland Bismark Fernando

    2009-01-01

    This study aimed to a stock portfolio formed with composite of companies market (PER, PBV, ROE, EPS, PSR, and B/M, VaR) and accounting performance (ROE, and EPS) also their market capitalization in Indonesia Stock Exchange period 2003-2006. Some clarification need to achieved, such as: real difference among variabel refer to their market capitalization and influence of predictor to stock return. Hereinafter, the performance of selected portfolio were evaluated. The evaluation result conclude ...

  20. The Stock Market's Reaction to Unemployment News: Why Bad News is Usually Good for Stocks

    OpenAIRE

    John H. Boyd; Ravi Jagannathan; Jian Hu

    2001-01-01

    We find that on average an announcement of rising unemployment is 'good news' for stocks during economic expansions and 'bad news' during economic contractions. Thus stock prices usually increase on news of rising unemployment, since the economy is usually in an expansion phase. We provide an explanation for this phenomenon. Unemployment news bundles two primitive types of information relevant for valuing stocks: information about future interest rates and future corporate earnings and divide...

  1. Net metering in British Columbia : white paper

    International Nuclear Information System (INIS)

    Berry, T.

    2003-01-01

    Net metering was described as being the reverse registration of an electricity customer's revenue meter when interconnected with a utility's grid. It is a provincial policy designed to encourage small-distributed renewable power generation such as micro-hydro, solar energy, fuel cells, and larger-scale wind energy. It was noted that interconnection standards for small generation is an important issue that must be addressed. The British Columbia Utilities Commission has asked BC Hydro to prepare a report on the merits of net metering in order to support consultations on a potential net metering tariff application by the utility. This report provides information on net metering with reference to experience in other jurisdictions with net metering, and the possible costs and benefits associated with net metering from both a utility and consumer perspective. Some of the barriers and policy considerations for successful implementation of net metering were also discussed. refs., tabs., figs

  2. Boosting Learning Algorithm for Stock Price Forecasting

    Science.gov (United States)

    Wang, Chengzhang; Bai, Xiaoming

    2018-03-01

    To tackle complexity and uncertainty of stock market behavior, more studies have introduced machine learning algorithms to forecast stock price. ANN (artificial neural network) is one of the most successful and promising applications. We propose a boosting-ANN model in this paper to predict the stock close price. On the basis of boosting theory, multiple weak predicting machines, i.e. ANNs, are assembled to build a stronger predictor, i.e. boosting-ANN model. New error criteria of the weak studying machine and rules of weights updating are adopted in this study. We select technical factors from financial markets as forecasting input variables. Final results demonstrate the boosting-ANN model works better than other ones for stock price forecasting.

  3. 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 tropica...

  4. 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...

  5. Sustainment Stocks for the Korean Theater

    National Research Council Canada - National Science Library

    St

    1998-01-01

    .... This study concludes that the Army intends to provide theater Class VII combat loss replacements, in the Korean theater, in the early stage of conflict or war from Army Pre-positioned Stocks-Sustainment 4 (APS-S 4...

  6. 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.

  7. The price momentum of stock in distribution

    Science.gov (United States)

    Liu, Haijun; Wang, Longfei

    2018-02-01

    In this paper, a new momentum of stock in distribution is proposed and applied in real investment. Firstly, assuming that a stock behaves as a multi-particle system, its share-exchange distribution and cost distribution are introduced. Secondly, an estimation of the share-exchange distribution is given with daily transaction data by 3 σ rule from the normal distribution. Meanwhile, an iterative method is given to estimate the cost distribution. Based on the cost distribution, a new momentum is proposed for stock system. Thirdly, an empirical test is given to compare the new momentum with others by contrarian strategy. The result shows that the new one outperforms others in many places. Furthermore, entropy of stock is introduced according to its cost distribution.

  8. 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...

  9. Multifractal structures for the Russian stock market

    Science.gov (United States)

    Ikeda, Taro

    2018-02-01

    In this paper, we apply the multifractal detrended fluctuation analysis (MFDFA) to the Russian stock price returns. To the best of our knowledge, this paper is the first to reveal the multifractal structures for the Russian stock market by financial crises. The contributions of the paper are twofold. (i) Finding the multifractal structures for the Russian stock market. The generalized Hurst exponents estimated become highly-nonlinear to the order of the fluctuation functions. (ii) Computing the multifractality degree according to Zunino et al. (2008). We find that the multifractality degree of the Russian stock market can be categorized within emerging markets, however, the Russian 1998 crisis and the global financial crisis dampen the degree when we consider the order of the polynomial trends in the MFDFA.

  10. Dynamic Stock Market Participation of Households

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    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 articipation cost is about 5% of labor...... income; however, it varies substantially over consumers’ life. The model successfully predicts the level of the observed articipation rate and the increasing pattern of stock market participation over the consumers’ life cycle....

  11. Privatization, political risk and stock market development

    NARCIS (Netherlands)

    Perotti, E.C.; van Oijen, P.H.

    1999-01-01

    This paper investigates whether privatization in emerging economies has a significant indirect effect on local stock market development through the resolution of political risk. We argue that a sustained privatization program represents a major political test which gradually resolves uncertainty

  12. Religion and stock price crash risk: Evidence

    Directory of Open Access Journals (Sweden)

    Wenfei Li

    2016-09-01

    Full Text Available This paper investigates whether religious traditions influence firm-specific crash risk in China. Using a sample of A-share listed firms from 2003 to 2013, we provide evidence that the more intense the religious environment, the lower the stock price crash risk, implying that religion plays an important role in Chinese corporate governance. Further, we find that (1 religion affects stock price crash risk by reducing earnings management and the management perk problem; (2 different religions have different effects, and Taoism, in particular, is unrelated to crash risk; and (3 the effects of religion are more pronounced with higher quality corporate governance and a stronger legal environment. Religion constrains the management agency problem, thus reducing stock price crash risk in China. Our paper enriches the literature on stock price crash risk and religion, and on new economic geography.

  13. Direct DNA Extraction from Mycobacterium tuberculosis Frozen Stocks as a Reculture-Independent Approach to Whole-Genome Sequencing

    DEFF Research Database (Denmark)

    Bjorn-Mortensen, K; Zallet, J; Lillebaek, T

    2015-01-01

    Culturing before DNA extraction represents a major time-consuming step in whole-genome sequencing of slow-growing bacteria, such as Mycobacterium tuberculosis. We report a workflow to extract DNA from frozen isolates without reculturing. Prepared libraries and sequence data were comparable...... with results from recultured aliquots of the same stocks....

  14. Mapping aboveground carbon stocks using LiDAR data in Eucalyptus spp. plantations in the state of Sao Paulo, Brazil

    Science.gov (United States)

    Carlos Alberto Silva; Carine Klauberg; Samuel de Padua Chaves e Carvalho; Andrew T. Hudak; e Luiz Carlos Estraviz. Rodriguez

    2014-01-01

    Fast growing plantation forests provide a low-cost means to sequester carbon for greenhouse gas abatement. The aim of this study was to evaluate airborne LiDAR (Light Detection And Ranging) to predict aboveground carbon (AGC) stocks in Eucalyptus spp. plantations. Biometric parameters (tree height (Ht) and diameter at breast height (DBH)) were collected from...

  15. 78 FR 66681 - Draft 2013 Marine Mammal Stock Assessment Reports

    Science.gov (United States)

    2013-11-06

    ... may be publicly accessible. Do not submit Confidential Business Information or otherwise sensitive or... completed in 1995. The MMPA requires NMFS and FWS to review the SARs at least annually for strategic stocks... non-strategic stocks. The term ``strategic stock'' means a marine mammal stock: (A) For which the...

  16. 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, both...

  17. STOCK AND STOCK EXCHANGE AS A PART OF FINANCIAL INSTITUTIONS IN DEVELOPED COUNTRIES

    Directory of Open Access Journals (Sweden)

    Vesna Petrović

    2018-01-01

    Full Text Available The authors have tried to present the term, meaning and importance of stocks and stock exchange as a part of the financial system of developed countries. By observing the financial system growth, especially in financial institutions, it can be noticed that there are changes in relative positions of various types of financial agents in developed market industries. What determines financial markets, and by that the stocks and stock exchange is the permanent movement of financial instruments and neglecting the national market boundaries.

  18. Spring hydrology determines summer net carbon uptake in northern ecosystems

    International Nuclear Information System (INIS)

    Yi, Yonghong; Kimball, John S; Reichle, Rolf H

    2014-01-01

    Increased photosynthetic activity and enhanced seasonal CO 2 exchange of northern ecosystems have been observed from a variety of sources including satellite vegetation indices (such as the normalized difference vegetation index; NDVI) and atmospheric CO 2 measurements. Most of these changes have been attributed to strong warming trends in the northern high latitudes (⩾50° N). Here we analyze the interannual variation of summer net carbon uptake derived from atmospheric CO 2 measurements and satellite NDVI in relation to surface meteorology from regional observational records. We find that increases in spring precipitation and snow pack promote summer net carbon uptake of northern ecosystems independent of air temperature effects. However, satellite NDVI measurements still show an overall benefit of summer photosynthetic activity from regional warming and limited impact of spring precipitation. This discrepancy is attributed to a similar response of photosynthesis and respiration to warming and thus reduced sensitivity of net ecosystem carbon uptake to temperature. Further analysis of boreal tower eddy covariance CO 2 flux measurements indicates that summer net carbon uptake is positively correlated with early growing-season surface soil moisture, which is also strongly affected by spring precipitation and snow pack based on analysis of satellite soil moisture retrievals. This is attributed to strong regulation of spring hydrology on soil respiration in relatively wet boreal and arctic ecosystems. These results document the important role of spring hydrology in determining summer net carbon uptake and contrast with prevailing assumptions of dominant cold temperature limitations to high-latitude ecosystems. Our results indicate potentially stronger coupling of boreal/arctic water and carbon cycles with continued regional warming trends. (letters)

  19. Spring Hydrology Determines Summer Net Carbon Uptake in Northern Ecosystems

    Science.gov (United States)

    Yi, Yonghong; Kimball, John; Reichle, Rolf H.

    2014-01-01

    Increased photosynthetic activity and enhanced seasonal CO2 exchange of northern ecosystems have been observed from a variety of sources including satellite vegetation indices (such as the Normalized Difference Vegetation Index; NDVI) and atmospheric CO2 measurements. Most of these changes have been attributed to strong warming trends in the northern high latitudes (greater than or equal to 50N). Here we analyze the interannual variation of summer net carbon uptake derived from atmospheric CO2 measurements and satellite NDVI in relation to surface meteorology from regional observational records. We find that increases in spring precipitation and snow pack promote summer net carbon uptake of northern ecosystems independent of air temperature effects. However, satellite NDVI measurements still show an overall benefit of summer photosynthetic activity from regional warming and limited impact of spring precipitation. This discrepancy is attributed to a similar response of photosynthesis and respiration to warming and thus reduced sensitivity of net ecosystem carbon uptake to temperature. Further analysis of boreal tower eddy covariance CO2 flux measurements indicates that summer net carbon uptake is positively correlated with early growing-season surface soil moisture, which is also strongly affected by spring precipitation and snow pack based on analysis of satellite soil moisture retrievals. This is attributed to strong regulation of spring hydrology on soil respiration in relatively wet boreal and arctic ecosystems. These results document the important role of spring hydrology in determining summer net carbon uptake and contrast with prevailing assumptions of dominant cold temperature limitations to high-latitude ecosystems. Our results indicate potentially stronger coupling of boreal/arctic water and carbon cycles with continued regional warming trends.

  20. How fast do eels grow

    International Nuclear Information System (INIS)

    Hansen, H.J.M.

    1988-01-01

    Not so very much about the growth pattern of the eel is known yet. Eels move about nearly all the time. They are thus very difficult to follow and we do not, for examble, yet know how long it actually takes for them to grow to maturity in the wild. So far, a macroscopic analysis of the number of bright and dark areas (growth rings) in the 'earstones' has been used to determine eel age, but this method was recently challenged. Use of radioisotopes has been suggested previously for this purpose. For this present study the rare earth elements, europium-152 and europium-155 are used. When incubated in artificial sea water, a satisfactory final radioactive label was achieved. Two experiments were planned in collaboration with the Swedish Environmental Protection Agency. 2000 Elvers were set out in 1982, in the cooling water outlet of the Oskarshamn nuclear power plant, each marked with europium-155. In 1984 another 10 000 elvers labelled with europium-152 were set out under similar conditions. The idea was mainly to see how fast the eels would grow, and to compare their known age with that determined by examining the earstones. Results showed that there was no clear-cut correlation between actual eel age and the biological age determination used so far. During four years, only 10 of the original 1300 eels were recaptured. It is thus hard to say anything definite from our results on the viability of setting out elvers in the environment

  1. Optimal capital stock and financing constraints

    OpenAIRE

    Saltari, Enrico; Giuseppe, Travaglini

    2011-01-01

    In this paper we show that financing constraints affect the optimal level of capital stock even when the financing constraint is ineffective. This happens when the firm rationally anticipates that access to external financing resources may be rationed in the future. We will show that with these expectations, the optimal investment policy is to invest less in any given period, thereby lowering the desired optimal capital stock in the long run.

  2. Stock Markets Indices in Artificial Insymmetrization Patterns

    International Nuclear Information System (INIS)

    Makowiec, D.

    2002-01-01

    The daily data of indices of Warsaw Stock Exchange - WIG, and New York Stock Exchange - NASDAQ, NYSE and S and P 500 for the last two years are being studied. Properties of fluctuations of daily returns found from scaling analysis of tails are confronted with patterns obtained by the artificial insymmetrization method to specify difference between the world-wide American market and local and rather marginal Polish market. (author)

  3. stockées Ephestia kuehniella (Lepidoptera)

    African Journals Online (AJOL)

    PR BOKO

    de Rebat (2008). [5] - B. DOUMANDJI-MITICHI. Etude d'un ravageur des denrées stockées E. Kuehiella, Am.El Harrach. (1997). [6] - F. TAIBI. Etude comparée du développement et de la reproduction chez deux ravageurs des denrées stockées Ephestia Kuehniella et Tenebrio molitor. Aspect endocrinien en rapport avec.

  4. Essays on Stock Exchange Competition and Pricing

    OpenAIRE

    Andersen, Atso

    2005-01-01

    This study deals with the industrial structure, the nature of competition and the pricing of stock exchange trading services in Europe. Specific for the study is that exchanges are considered to be profit-maximizing institutions that face competition. A conventional analysis of concentration ratios shows that the concentration of European stock exchanges is low. When the nature of competition is measured in more detail, regression results indicate that exchanges operate in monopolistic o...

  5. 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...

  6. Long - Memory Persistence in African Stock Markets

    Directory of Open Access Journals (Sweden)

    Emmanuel Numapau Gyamfi

    2016-05-01

    Full Text Available Emerging stock markets are said to become efficient with time. This study seeks to investigate this assertion by analyzing long - memory persistence in 8 African stock markets covering the period from 28 August 2000 to 28 August 2015. The Hurst exponent is used as our efficiency measure which is evaluated by the Detrended Fluctuation Analysis (DFA. Our findings show strong evidence of long - memory persistence in the markets studied therefore violating the weak - form Efficient Market Hypothesis (EMH.

  7. Global stock market in 1990-s

    Directory of Open Access Journals (Sweden)

    Moshenskyi S.Z.

    2017-08-01

    Full Text Available The 1990s became a period of long-term recovery, the main driving force of which was the high-tech companies of the so-called «new economy», mainly associated with information technology and Internet at the global stock market. Such innovations have led to unrealistic expectations of the profitability of new companies from the sale of goods and services on the Internet. This became a prerequisite for a speculative boom in equity markets in developed financial systems. The boom intensified the mass privatization of state-owned enterprises in UK, Germany, France and some other countries. The capitalization of the global stock market increased more than ten times although the world GDP grew only 2.5 times during two decades, from 1980 to 2000. Though the stock market is the source of capital only in the countries with the Anglo-American model of financial markets (for countries of continental Europe and Japan such sources are bank loans, stock markets increased in all countries with developed financial systems. The systematic analysis of such key indicators as market capitalization and liquidity is required for an objective assessment of such rise in stock markets. But statistical information at stock markets is often not systematized and fragmentary. Therefore, the author (based on the official statistics of such international financial organizations as the Organization for Economic Co-operation and Development and the World Federation of Exchanges has calculated and systematically analyzed capitalization and liquidity as the main indicators of the stock market for the largest countries with developed financial systems (USA, Great Britain, Germany, France, Japan. The paper displays the differences in the mechanisms of attraction of capital determined by the different models of financial markets (decentralized Anglo-American and centralized European as well as the features of the composition of the main investors in the world stock markets.

  8. Stock Price Synchronicity and Material Sustainability Information

    OpenAIRE

    Grewal, Jody; Hauptmann, Clarissa; Serafeim, Georgios

    2017-01-01

    We examine if, and under what conditions, disclosure of sustainability information identified as investor relevant by market-driven innovations in accounting standard-setting, is associated with stock prices reflecting more firm-specific information and thereby lower synchronicity with market and industry returns. We find that firms voluntarily disclosing more sustainability information, identified as material by the Sustainability Accounting Standards Board (SASB), have lower stock price syn...

  9. Managerial Incentives and Stock Price Manipulation

    OpenAIRE

    Peng, Lin; Röell, Ailsa A

    2009-01-01

    This paper presents a rational expectations model of optimal executive compensation in a setting where managers are in a position to manipulate short-term stock prices, and managers' propensity to manipulate is uncertain. Stock-based incentives elicit not only productive effort, but also costly information manipulation. We analyze the tradeoffs involved in conditioning pay on long- versus short-term performance and characterize a second-best optimal compensation scheme. The paper shows manipu...

  10. 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....

  11. Mutual Fund Competition and Stock Market Liquidity

    OpenAIRE

    Massa, Massimo

    2004-01-01

    We study how competition in the mutual fund industry affects stock market liquidity. We argue that mutual fund families operate as multi-product firms, jointly choosing fees, performance and number of funds and sharing common research facilities. The family-based organization generates economies of scale in information that induce a trade off between performance and number of funds. The presence of more and relatively less-informed funds impacts the market, increasing stock liquidity. This in...

  12. Is there stock market efficiency in Malaysia?

    OpenAIRE

    Sui Suyin, Crystal

    2007-01-01

    This study is tests the Malaysian stock exchange, the Kuala Lumpur Stock Exchange (KLSE) for any evidences of efficiency. The approach to carrying out the tests is discussed in careful detail whilst still considering the other aspects of the study. The Efficient Market Hypothesis is explained in detailed as well a discussion on the vast debate concerning the EMH, which includes literature that support and do not support the concept of an efficient market. This debate is situated vitally aroun...

  13. Identifying the critical financial ratios for stocks evaluation: A fuzzy delphi approach

    Science.gov (United States)

    Mokhtar, Mazura; Shuib, Adibah; Mohamad, Daud

    2014-12-01

    Stocks evaluation has always been an interesting and challenging problem for both researchers and practitioners. Generally, the evaluation can be made based on a set of financial ratios. Nevertheless, there are a variety of financial ratios that can be considered and if all ratios in the set are placed into the evaluation process, data collection would be more difficult and time consuming. Thus, the objective of this paper is to identify the most important financial ratios upon which to focus in order to evaluate the stock's performance. For this purpose, a survey was carried out using an approach which is based on an expert judgement, namely the Fuzzy Delphi Method (FDM). The results of this study indicated that return on equity, return on assets, net profit margin, operating profit margin, earnings per share and debt to equity are the most important ratios.

  14. Guide about petroleum strategic stockpiles in France; Repere sur les stocks strategiques petroliers en France

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-03-01

    The strategic character of petroleum products has been perceived since the first world war. It has led France to impose the petroleum operators to make stockpiles to provide against the consequences of a serious disruption of supplies. As a difference with some other industrialized countries like the USA or Japan, French stockpiles are made of finite products. A balanced geographical distribution of these stocks over the whole national territory increases their efficiency. Stockpiles of IEA member states must represent 90 days of net imports while those of European Union member states must represent 90 days of average domestic consumption. In France, each chartered operator contributes to the strategic storage and the stored volumes are defined by the law no 92-1443 from December 31, 1992. These stocks are permanently controlled and financial sanctions are applied in case of infraction. Particular dispositions are applied in overseas departments which are summarized in this paper. (J.S.)

  15. Welfare of organic laying hens kept at different indoor stocking densities in a multi-tier aviary system. I: egg laying, and use of veranda and outdoor area

    DEFF Research Database (Denmark)

    Steenfeldt, Sanna; Nielsen, Birte L.

    2015-01-01

    Multi-tier aviary systems are becoming more common in organic egg production. The area on the tiers can be included in the net area available to the hens (also referred to as usable area) when calculating maximum indoor stocking densities in organic systems within the EU. In this article, results...... on egg production, laying behaviour and use of veranda and outdoor area are reported for organic laying hens housed in a multi-tier system with permanent access to a veranda and kept at stocking densities (D) of 6, 9 and 12 hens/m2 available floor area, with concomitant increases in the number of hens...... per trough, drinker, perch and nest space. In a fourth treatment, access to the top tier was blocked reducing vertical, trough and perch access at the lowest stocking density (treatment D6x). In all other aspects than stocking density, the experiment followed the EU regulations on the keeping...

  16. Net Income, Book Value and Cash Flows: The Value Relevance in Jordanian Economic Sectors

    Directory of Open Access Journals (Sweden)

    DHIAA SHAMKI

    2013-07-01

    Full Text Available This paper examines the value relevance of financial statements variables namely net income, book value and cash flows simultaneously relative to Jordanian services and industrial firms for the period from 2000 to 2009. The main findings of this paper are three- dimensional. First, net income is value relevant, while book value and cash flows are irrelevant. Second, net income is more value relevant than book value and cash flows in both sectors. Third, this value relevance is greater in services sector than in industrial sector. The study shows that net income assist more in explaining market values in Jordanian services and industrial firms. Since research on the value relevance of these variables has neglected Jordan (and the Middle Eastern region, the study tries to fill this practical gap. The study is the first in Jordan that examines the value relevance of net income, book value and cash flows simultaneously and compares this value relevance according to Amman Stock Exchange sectors in one study in Jordan.

  17. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock market...

  18. 12 CFR 221.119 - Applicability of plan-lender provisions to financing of stock options and stock purchase rights...

    Science.gov (United States)

    2010-01-01

    ... experience that in some nonqualified plans, particularly stock purchase plans, the credit arrangement is... financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code... PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.119 Applicability of plan-lender...

  19. Converting partially-stocked aspen stands to fully-stocked stands in the Lake States: an economic analysis.

    Science.gov (United States)

    Jeffrey T. Olson; Allen L. Lundgren

    1978-01-01

    The 1968 Wisconsin Forest Survey showed large areas of aspen type that are not considered fully stocked. The economic feasibility of converting partially-stocked stands to full stocking is examined, and a rule presented for determining when a partially-stocked stand should be harvested to maximize its present value.

  20. How many nuclear stocks in the world in 2015?

    International Nuclear Information System (INIS)

    Le Guelte, G.

    2005-01-01

    The examination conference of the non-proliferation treaty which will take place in May 2, 2005, will be corrupted by the unanimous reprobation against the 5 states which are still perennializing their nuclear stocks, while they committed themselves to eliminate them. The sustain of the non-proliferation policy is crumbling down and the possibilities of clandestine activities are growing up. Instead of explaining their join reprobation against the policy of these states, the participants will probably spread the image of a divided, disillusioned, ineffective and at a loss world. It is not excluded that in the next 10 or 15 years, about 20 states will still have their nuclear weapons. (J.S.)

  1. Stock flow diagram analysis on solid waste management in Malaysia

    Science.gov (United States)

    Zulkipli, Faridah; Nopiah, Zulkifli Mohd; Basri, Noor Ezlin Ahmad; Kie, Cheng Jack

    2016-10-01

    The effectiveness on solid waste management is a major importance to societies. Numerous generation of solid waste from our daily activities has risked for our communities. These due to rapid population grow and advance in economic development. Moreover, the complexity of solid waste management is inherently involved large scale, diverse and element of uncertainties that must assist stakeholders with deviating objectives. In this paper, we proposed a system dynamics simulation by developing a stock flow diagram to illustrate the solid waste generation process and waste recycle process. The analysis highlights the impact on increasing the number of population toward the amount of solid waste generated and the amount of recycled waste. The results show an increment in the number of population as well as the amount of recycled waste will decrease the amount of waste generated. It is positively represent the achievement of government aim to minimize the amount of waste to be disposed by year 2020.

  2. Stock prices forecasting based on wavelet neural networks with PSO

    OpenAIRE

    Wang Kai-Cheng; Yang Chi-I; Chang Kuei-Fang

    2017-01-01

    This research examines the forecasting performance of wavelet neural network (WNN) model using published stock data obtained from Financial Times Stock Exchange (FTSE) Taiwan Stock Exchange (TWSE) 50 index, also known as Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX), hereinafter referred to as Taiwan 50. Our WNN model uses particle swarm optimization (PSO) to choose the appropriate initial network values for different companies. The findings come with two advantages. First...

  3. Stock-based Compensation Plans and Employee Incentives

    OpenAIRE

    Jan Zabojnik

    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...

  4. Forecast Correlation Coefficient Matrix of Stock Returns in Portfolio Analysis

    OpenAIRE

    Zhao, Feng

    2013-01-01

    In Modern Portfolio Theory, the correlation coefficients decide the risk of a set of stocks in the portfolio. So, to understand the correlation coefficients between returns of stocks, is a challenge but is very important for the portfolio management. Usually, the stocks with small correlation coefficients or even negative correlation coefficients are preferred. One can calculate the correlation coefficients of stock returns based on the historical stock data. However, in order to control the ...

  5. Viking Disruptions or Growing Integration?

    DEFF Research Database (Denmark)

    Sindbæk, Søren Michael

    2012-01-01

    Long-distance communication has emerged as a particular focus for archaeological exploration using network theory, analysis, and modelling. Initial attempts to adapt methods from social network analysis to archaeological data have, however, struggled to produce decisive results. This paper...... demonstrates how formal network analysis can be combined with a contextual reading of evidence relating to a long-distance communication network in the past. A study of the combined distributions of ten vessel types in 152 settlement sites from the 10th century suggests the outline of the core structure...... of the network. The model implies that 10th century long-distance exchange in the North Sea region featured long-distance links equal to those of the Carolingian emporia trade, and represented a growth in terms of new axes of integration, above all the growing links between the Scandinavian Peninsula...

  6. Growing the Blockchain information infrastructure

    DEFF Research Database (Denmark)

    Jabbar, Karim; Bjørn, Pernille

    2017-01-01

    In this paper, we present ethnographic data that unpacks the everyday work of some of the many infrastructuring agents who contribute to creating, sustaining and growing the Blockchain information infrastructure. We argue that this infrastructuring work takes the form of entrepreneurial actions......, which are self-initiated and primarily directed at sustaining or increasing the initiator’s stake in the emerging information infrastructure. These entrepreneurial actions wrestle against the affordances of the installed base of the Blockchain infrastructure, and take the shape of engaging...... or circumventing activities. These activities purposefully aim at either influencing or working around the enablers and constraints afforded by the Blockchain information infrastructure, as its installed base is gaining inertia. This study contributes to our understanding of the purpose of infrastructuring, seen...

  7. Supplies should match growing demand

    International Nuclear Information System (INIS)

    Rasmusen, H.J.

    1997-01-01

    The natural gas industry is currently enjoying healthy growth prospects. Not only is the demand for natural gas steadily growing; the outlook for increasing gas reserves is promising as well. The success of natural gas in the marketplace reflects, on one hand, continuous attention paid to public and customer requirements and, on the other hand, the ability of the gas industry to direct technological developments toward the increasing public demand for gas at competitive market prices supplied in a reliable, safe and environmentally friendly manner. In the past, the gas industry has been involved in the development of technologies for everything from gas production to the end user and from borehole to burner tip, and the author believes that the industry must continue or even increase its emphasis on technology in the future in order to capture new market opportunities. He explains this by looking at the supply side, the demand side and the structural side of the business

  8. Bound states in string nets

    Science.gov (United States)

    Schulz, Marc Daniel; Dusuel, Sébastien; Vidal, Julien

    2016-11-01

    We discuss the emergence of bound states in the low-energy spectrum of the string-net Hamiltonian in the presence of a string tension. In the ladder geometry, we show that a single bound state arises either for a finite tension or in the zero-tension limit depending on the theory considered. In the latter case, we perturbatively compute the binding energy as a function of the total quantum dimension. We also address this issue in the honeycomb lattice where the number of bound states in the topological phase depends on the total quantum dimension. Finally, the internal structure of these bound states is analyzed in the zero-tension limit.

  9. -Net Approach to Sensor -Coverage

    Directory of Open Access Journals (Sweden)

    Fusco Giordano

    2010-01-01

    Full Text Available Wireless sensors rely on battery power, and in many applications it is difficult or prohibitive to replace them. Hence, in order to prolongate the system's lifetime, some sensors can be kept inactive while others perform all the tasks. In this paper, we study the -coverage problem of activating the minimum number of sensors to ensure that every point in the area is covered by at least sensors. This ensures higher fault tolerance, robustness, and improves many operations, among which position detection and intrusion detection. The -coverage problem is trivially NP-complete, and hence we can only provide approximation algorithms. In this paper, we present an algorithm based on an extension of the classical -net technique. This method gives an -approximation, where is the number of sensors in an optimal solution. We do not make any particular assumption on the shape of the areas covered by each sensor, besides that they must be closed, connected, and without holes.

  10. The Net Reclassification Index (NRI)

    DEFF Research Database (Denmark)

    Pepe, Margaret S.; Fan, Jing; Feng, Ziding

    2015-01-01

    The Net Reclassification Index (NRI) is a very popular measure for evaluating the improvement in prediction performance gained by adding a marker to a set of baseline predictors. However, the statistical properties of this novel measure have not been explored in depth. We demonstrate the alarming...... result that the NRI statistic calculated on a large test dataset using risk models derived from a training set is likely to be positive even when the new marker has no predictive information. A related theoretical example is provided in which an incorrect risk function that includes an uninformative...... marker is proven to erroneously yield a positive NRI. Some insight into this phenomenon is provided. Since large values for the NRI statistic may simply be due to use of poorly fitting risk models, we suggest caution in using the NRI as the basis for marker evaluation. Other measures of prediction...

  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. How to grow great leaders.

    Science.gov (United States)

    Ready, Douglas A

    2004-12-01

    Few leaders excel at both the unit and enterprise levels. More than ever, though, corporations need people capable of running business units, functions, or regions and focusing on broader company goals. It's up to organizations to develop leaders who can manage the inherent tensions between unit and enterprise priorities. Take the example of RBC Financial Group, one of the largest, most profitable companies in Canada. In the mid-1990's, RBC revamped its competitive strategy in a couple of ways. After the government announced that the Big Six banks in Canada could neither merge with nor acquire one another, RBC decided to grow through cross-border acquisitions. Additionally, because customers were starting to seek bundled products and services, RBC reached across its traditional stand-alone businesses to offer integrated solutions. These changes in strategy didn't elicit immediate companywide support. Instinctively, employees reacted against what would amount to a delicate balancing act: They would have to lift their focus out of their silos while continuing to meet unit goals. However, by communicating extensively with staff members, cross-fertilizing talent across unit boundaries, and targeting rewards to shape performance, RBC was able to cultivate rising leaders with the unit expertise and the enterprise vision to help the company fulfill its new aims. Growing such well-rounded leaders takes sustained effort because unit-enterprise tensions are quite real. Three common conditions reinforce these tensions. First, most organizational structures foster silo thinking and unimaginative career paths. Second, most companies lack venues for airing and resolving conflicts that arise when there are competing priorities. Third, many have misguided reward systems that pit unit performance against enterprise considerations. Such long-established patterns of organizational behavior are tough to break. Fortunately, as RBC discovered, people can be trained to think and work

  13. Pengaruh Debt to Equty Ratio, Current Ratio , Net Profit Margin Terhadap Harga Saham dengan Price Earning Ratio Sebagai Variabel Pemoderasi pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2012-2014

    OpenAIRE

    Theresia, Paskah Lia

    2017-01-01

    This study conducted to analyze the effect of variable Debt to Equity Ratio (DER), Current Ratio (CR), Net Profit Margin (NPM) andPrice Earnings Ratio (PER) to the Stock Prices with Price Earnings Ratio (PER) as an moderating variable on companies listed on Indonesian Stock Exchange from 2012 - 2014.The samplingtechnique used is purposive sampling and number of samples used by 23 companies. The analysis technique used are Descriptive Statistic Analysis, Classical Assumption Test, Hypothesis T...

  14. Higher-moment measurements of net-kaon, net-charge and net-proton multiplicity distributions at STAR

    International Nuclear Information System (INIS)

    Sarkar, Amal

    2014-01-01

    In this paper, we report the measurements of the various moments, such as mean, standard deviation (σ), skewness (S) and kurtosis (κ) of the net-kaon, net-charge and net-proton multiplicity distributions at mid-rapidity in Au + Au collisions from √(s NN )=7.7 to 200 GeV with the STAR experiment at RHIC. This work has been done with the aim to locate the critical point on the QCD phase diagram. These moments and their products are related to the thermodynamic susceptibilities of conserved quantities such as net baryon number, net charge, and net strangeness as well as to the correlation length of the system which diverges in an ideal infinite thermodynamic system at the critical point. For a finite system, existing for a finite time, a non-monotonic behavior of these variables would indicate the presence of the critical point. Furthermore, we also present the moment products Sσ, κσ 2 of net-kaon, net-charge and net-proton multiplicity distributions as a function of collision centrality and energy. The energy and the centrality dependence of higher moments and their products have been compared with different models

  15. U.S. Department of Energy Commercial Reference Building Models of the National Building Stock

    Energy Technology Data Exchange (ETDEWEB)

    Deru, M.; Field, K.; Studer, D.; Benne, K.; Griffith, B.; Torcellini, P.; Liu, B.; Halverson, M.; Winiarski, D.; Rosenberg, M.; Yazdanian, M.; Huang, J.; Crawley, D.

    2011-02-01

    The U.S. Department of Energy (DOE) Building Technologies Program has set the aggressive goal of producing marketable net-zero energy buildings by 2025. This goal will require collaboration between the DOE laboratories and the building industry. We developed standard or reference energy models for the most common commercial buildings to serve as starting points for energy efficiency research. These models represent fairly realistic buildings and typical construction practices. Fifteen commercial building types and one multifamily residential building were determined by consensus between DOE, the National Renewable Energy Laboratory, Pacific Northwest National Laboratory, and Lawrence Berkeley National Laboratory, and represent approximately two-thirds of the commercial building stock.

  16. Net-infiltration map of the Navajo Sandstone outcrop area in western Washington County, Utah

    Science.gov (United States)

    Heilweil, Victor M.; McKinney, Tim S.

    2007-01-01

    As populations grow in the arid southwestern United States and desert bedrock aquifers are increasingly targeted for future development, understanding and quantifying the spatial variability of net infiltration and recharge becomes critically important for inventorying groundwater resources and mapping contamination vulnerability. A Geographic Information System (GIS)-based model utilizing readily available soils, topographic, precipitation, and outcrop data has been developed for predicting net infiltration to exposed and soil-covered areas of the Navajo Sandstone outcrop of southwestern Utah. The Navajo Sandstone is an important regional bedrock aquifer. The GIS model determines the net-infiltration percentage of precipitation by using an empirical equation. This relation is derived from least squares linear regression between three surficial parameters (soil coarseness, topographic slope, and downgradient distance from outcrop) and the percentage of estimated net infiltration based on environmental tracer data from excavations and boreholes at Sand Hollow Reservoir in the southeastern part of the study area.Processed GIS raster layers are applied as parameters in the empirical equation for determining net infiltration for soil-covered areas as a percentage of precipitation. This net-infiltration percentage is multiplied by average annual Parameter-elevation Regressions on Independent Slopes Model (PRISM) precipitation data to obtain an infiltration rate for each model cell. Additionally, net infiltration on exposed outcrop areas is set to 10 percent of precipitation on the basis of borehole net-infiltration estimates. Soils and outcrop net-infiltration rates are merged to form a final map.Areas of low, medium, and high potential for ground-water recharge have been identified, and estimates of net infiltration range from 0.1 to 66 millimeters per year (mm/yr). Estimated net-infiltration rates of less than 10 mm/yr are considered low, rates of 10 to 50 mm/yr are

  17. Reviewing the Need for Gaming in Education to Accommodate the Net Generation

    Science.gov (United States)

    Bekebrede, G.; Warmelink, H. J. G.; Mayer, I. S.

    2011-01-01

    There is a growing interest in the use of simulations and games in Dutch higher education. This development is based on the perception that students belong to the "gamer generation" or "net generation": a generation that has grown up with computer games and other technology affecting their preferred learning styles, social…

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

    NARCIS (Netherlands)

    Scholtens, B.; Boersen, A.

    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

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

    DEFF Research Database (Denmark)

    Raaballe, Johannes; Bechmann, Ken L.

    2007-01-01

    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...

  20. 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.

  1. Growing hairs in shorn cattle

    Directory of Open Access Journals (Sweden)

    Cecília José Veríssimo

    2013-12-01

    Full Text Available The shearing operation can provide double benefits to the cattle: they can become more heat tolerant and the tick infestation decreases. The cattle tick Rhipicephalus (Boophilus microplus causes great losses to dairy cattle, especially to the Holstein cattle because they are very susceptible to this tick. Its control is becoming each day more difficult, owing to the increasing resistance to acaricides they are acquiring. The objective of this work was to study the growing of haircoat following shearing. We made our experiment with 17 animals, 7 females and 10 males. They were shaved on the anterior third (head, neck, dewlap, scapula and arm of one side, at random. The work was performed in two steps: they were shorn for the first time on August 2nd 2012, with a size 10 blade in a clipper Oster model GoldenA5, which left the fur coat 2 mm long. Then we evaluated the hair length growing by collecting fortnightly three sample of hairs in the middle of the scapula, with  electric pliers, modified for this purpose, in both sides of the animals, sheared and non-sheared, until 30 days after this shearing. The three hair samples were put inside a little plastic bag per animal. Meanwhile, as we thought that the animals shearing had to be done closer to the skin, we decided to shear them again (in the same side shorn before, on October 2nd 2012. We changed our procedure using the same machine, but now with a blade size 30, which left the fur coat 1mm thick. After that, we collected again, fortnightly, samples of hairs on both sides during 2 months. The 10 longest hairs in the plastig bag were measured using a graph paper and the average per animal was calculated in each data and blade. A random design was applied for statistical analysis, the hair length of both sides, sheared and non sheared were compared by a two related samples tests – Wilcoxon, in a non parametric test, using the SPSSP 12.0 program, in each data within each blade. Using blade size

  2. Application and Theory of Petri Nets

    DEFF Research Database (Denmark)

    This volume contains the proceedings of the 13th International Conference onApplication and Theory of Petri Nets, held in Sheffield, England, in June 1992. The aim of the Petri net conferences is to create a forum for discussing progress in the application and theory of Petri nets. Typically....... Balbo and W. Reisig, 18 submitted papers, and seven project papers. The submitted papers and project presentations were selectedby the programme committee and a panel of referees from a large number of submissions....

  3. TwiddleNet: Smartphones as Personal Servers

    OpenAIRE

    Gurminder, Singh; Center for the Study of Mobile Devices and Communications

    2012-01-01

    TwiddleNet uses smartphones as personal servers to enable instant content capture and dissemination for firstresponders. It supports the information sharing needs of first responders in the early stages of an emergency response operation. In TwiddleNet, content, once captured, is automatically tagged and disseminated using one of the several networking channels available in smartphones. TwiddleNet pays special attention to minimizing the equipment, network set-up time, and content...

  4. Multifractal in Volatility of Family Business Stocks Listed on Casablanca STOCK Exchange

    Science.gov (United States)

    Lahmiri, Salim

    In this paper, we check for existence of multifractal in volatility of Moroccan family business stock returns and in volatility of Casablanca market index returns based on multifractal detrended fluctuation analysis (MF-DFA) technique. Empirical results show strong evidence of multifractal characteristics in volatility series of both family business stocks and market index. In addition, it is found that small variations in volatility of family business stocks are persistent, whilst small variations in volatility of market index are anti-persistent. However, large variations in family business volatility and market index volatility are both anti-persistent. Furthermore, multifractal spectral analysis based results show strong evidence that volatility in Moroccan family business companies exhibits more multifractality than volatility in the main stock market. These results may provide insightful information for risk managers concerned with family business stocks.

  5. CSR and Company's Stock Price. A Comparative Evidence from Bucharest Stock Exchange

    Directory of Open Access Journals (Sweden)

    Adina Dornean

    2017-05-01

    Full Text Available This paper aims at analysing the relationship between Corporate Social Responsibility (CSR and stock price for the companies listed on Bucharest Stock Exchange (BSE in 2015, comparing with the results obtained for 2014. This study investigates the differences in the market stock price (and other market variables, such as dividends and stock return of companies that show CSR compared with those that do not. For this purpose we will use three statistical techniques: discriminant analysis, probit analysis model and logistic regression. There is no significant difference between the prediction ability of the models, in the context in which probit model and logistic regression have and average correct classification of 70.29%, while discriminant analysis records 71.62%. Our analysis highlighted that stock return has a significant impact on CSR activities of a company. Moreover, all discriminants have a positive impact on CSR.

  6. 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.

  7. Children's schemes for anticipating the validity of nets for solids

    Science.gov (United States)

    Wright, Vince; Smith, Ken

    2017-09-01

    There is growing acknowledgement of the importance of spatial abilities to student achievement across a broad range of domains and disciplines. Nets are one way to connect three-dimensional shapes and their two-dimensional representations and are a common focus of geometry curricula. Thirty-four students at year 6 (upper primary school) were interviewed on two occasions about their anticipation of whether or not given nets for the cube- and square-based pyramid would fold to form the target solid. Vergnaud's ( Journal of Mathematical Behavior, 17(2), 167-181, 1998, Human Development, 52, 83-94, 2009) four characteristics of schemes were used as a theoretical lens to analyse the data. Successful schemes depended on the interaction of operational invariants, such as strategic choice of the base, rules for action, particularly rotation of shapes, and anticipations of composites of polygons in the net forming arrangements of faces in the solid. Inferences were rare. These data suggest that students need teacher support to make inferences, in order to create transferable schemes.

  8. Professional Visual Basic 2010 and .NET 4

    CERN Document Server

    Sheldon, Bill; Sharkey, Kent

    2010-01-01

    Intermediate and advanced coverage of Visual Basic 2010 and .NET 4 for professional developers. If you've already covered the basics and want to dive deep into VB and .NET topics that professional programmers use most, this is your book. You'll find a quick review of introductory topics-always helpful-before the author team of experts moves you quickly into such topics as data access with ADO.NET, Language Integrated Query (LINQ), security, ASP.NET web programming with Visual Basic, Windows workflow, threading, and more. You'll explore all the new features of Visual Basic 2010 as well as all t

  9. NASA Net Zero Energy Buildings Roadmap

    Energy Technology Data Exchange (ETDEWEB)

    Pless, S.; Scheib, J.; Torcellini, P.; Hendron, B.; Slovensky, M.

    2014-10-01

    In preparation for the time-phased net zero energy requirement for new federal buildings starting in 2020, set forth in Executive Order 13514, NASA requested that the National Renewable Energy Laboratory (NREL) to develop a roadmap for NASA's compliance. NASA detailed a Statement of Work that requested information on strategic, organizational, and tactical aspects of net zero energy buildings. In response, this document presents a high-level approach to net zero energy planning, design, construction, and operations, based on NREL's first-hand experience procuring net zero energy construction, and based on NREL and other industry research on net zero energy feasibility. The strategic approach to net zero energy starts with an interpretation of the executive order language relating to net zero energy. Specifically, this roadmap defines a net zero energy acquisition process as one that sets an aggressive energy use intensity goal for the building in project planning, meets the reduced demand goal through energy efficiency strategies and technologies, then adds renewable energy in a prioritized manner, using building-associated, emission- free sources first, to offset the annual energy use required at the building; the net zero energy process extends through the life of the building, requiring a balance of energy use and production in each calendar year.

  10. Pro Agile NET Development with Scrum

    CERN Document Server

    Blankenship, Jerrel; Millett, Scott

    2011-01-01

    Pro Agile .NET Development with SCRUM guides you through a real-world ASP.NET project and shows how agile methodology is put into practice. There is plenty of literature on the theory behind agile methodologies, but no book on the market takes the concepts of agile practices and applies these in a practical manner to an end-to-end ASP.NET project, especially the estimating, requirements and management aspects of a project. Pro Agile .NET Development with SCRUM takes you through the initial stages of a project - gathering requirements and setting up an environment - through to the development a

  11. Who Moves the Malaysian Stock Market— the U.S. or Japan?: Empirical Evidence from the Pre-, During, and Post-1997 Asian Financial Crisis

    Directory of Open Access Journals (Sweden)

    Rosylin Mohd. Yusof

    2006-09-01

    Full Text Available This paper examines long run co-movements between Malaysian stock market and the two largest stock markets in the world: the U.S. and Japan. By employing time-series analysis, i.e., cointegration, variance decompositions, and impulse response functions, the paper seeks to investigate which market actually leads the Malaysian stock market before, during, and after the 1997 Asian financial crisis periods. The results indicate that there is a co-movement of these markets only in the post crisis period. The Japanese stock market is found to significantly move the Malaysian stock market compared to U.S. stock market for the post-crisis period. At the same time, there seems to be a growing proportion of bilateral trade between Malaysia and Japan during the mentioned period. This finding seems to be consistent with the view that the stronger the bilateral trade ties between two countries, the higher the degree of co-movements (Masih and Masih 1999; Bracker et al. 1999; Pretorius 2002; Ibrahim 2003; Kearney and Lucey 2004. Our finding implies that the opportunities of gaining abnormal profits through investment diversification during the post-crisis period in the Malaysian and Japanese stock markets are diminishing as the markets move towards a greater integration. This further implies that any development in the Japanese economy has to be taken into consideration by the Malaysian government in designing policies pertaining to Malaysian stock market.

  12. Optimizing Safety Stock Levels in Modular Production Systems Using Component Commonality and Group Technology Philosophy: A Study Based on Simulation

    Directory of Open Access Journals (Sweden)

    Kenneth Edgar Hernandez-Ruiz

    2016-01-01

    Full Text Available Modular production and component commonality are two widely used strategies in the manufacturing industry to meet customers growing needs for customized products. Using these strategies, companies can enhance their performance to achieve optimal safety stock levels. Despite the importance of safety stocks in business competition, little attention has been paid to the way to reduce them without affecting the customer service levels. This paper develops a mathematical model to reduce safety stock levels in organizations that employ modular production. To construct the model, we take advantage of the benefits of aggregate inventories, standardization of components, component commonality, and Group Technology philosophy in regard to stock levels. The model is tested through the simulation of three years of operation of two modular product systems. For each system, we calculated and compared the safety stock levels for two cases: (1 under the only presence of component commonality and (2 under the presence of both component commonality and Group Technology philosophy. The results show a reduction in safety stock levels when we linked the component commonality with the Group Technology philosophy. The paper presents a discussion of the implications of each case, features of the model, and suggestions for future research.

  13. Carbon stock of Moso bamboo (Phyllostachys pubescens) forests along a latitude gradient in the subtropical region of China.

    Science.gov (United States)

    Xu, Mengjie; Ji, Haibao; Zhuang, Shunyao

    2018-01-01

    Latitude is an important factor that influences the carbon stock of Moso bamboo (Phyllostachys pubescens) forests. Accurate estimation of the carbon stock of Moso bamboo forest can contribute to sufficient evaluation of forests in carbon sequestration worldwide. Nevertheless, the effect of latitude on the carbon stock of Moso bamboo remains unclear. In this study, a field survey with 36 plots of Moso bamboo forests along a latitude gradient was conducted to investigate carbon stock. Results showed that the diameter at breast height (DBH) of Moso bamboo culms increased from 8.37 cm to 10.12 cm that well fitted by Weibull model, whereas the bamboo culm density decreased from 4722 culm ha-1 to 3400 culm ha-1 with increasing latitude. The bamboo biomass carbon decreased from 60.58 Mg C ha-1 to 48.31 Mg C ha-1 from north to south. The total carbon stock of Moso bamboo forests, which comprises soil and biomass carbon, ranged from 87.83 Mg C ha-1 to 119.5 Mg C ha-1 and linearly increased with latitude. As a fast-growing plant, Moso bamboo could be harvested amounts of 6.0 Mg C ha-1 to 7.6 Mg C ha-1 annually, which indicates a high potential of this species for carbon sequestration. Parameters obtained in this study can be used to accurately estimate the carbon stock of Moso bamboo forest to establish models of the global carbon balance.

  14. Comparison between global financial crisis and local stock disaster on top of Chinese stock network

    Science.gov (United States)

    Xia, Lisi; You, Daming; Jiang, Xin; Guo, Quantong

    2018-01-01

    The science of complex network theory can be usefully applied in many important fields, one of which is the finance. In these practical cases, a massive dataset can be represented as a very large network with certain attributes associated with its nodes and edges. As one of the most important components of financial market, stock market has been attracting more and more attention. In this paper, we propose a threshold model to build Chinese stock market networks and study the topological properties of these networks. To be specific, we compare the effects of different crises, namely the 2008 global crisis and the stock market disaster in 2015, on the threshold networks. Prices of the stocks belonging to the Shanghai and Shenzhen 300 index are considered for three periods: the global crisis, common period and the stock market disaster. We find the probability distribution of the cross-correlations of the stocks during the stock market disaster is fatter than that of others. Besides, the thresholds of cross-correlations are assigned to obtain the threshold networks and the power-law of degree distribution in these networks are observed in a certain range of threshold values. The networks during the stock market disaster also appear to have larger mean degree and modularity, which reveals the strong correlations among these stock prices. Our findings to some extent crosscheck the liquidity shortage reason which is believed to result in the outbreak of the stock market disaster. Moreover, we hope that this paper could give us a deeper understanding of the market's behavior and also lead to interesting future research about the problems of modern finance theory.

  15. Case grows for climate change

    Energy Technology Data Exchange (ETDEWEB)

    Hileman, B.

    1999-08-09

    In the four years since the IPCC stated that 'the balance of evidence suggests a discernible human influence on global climate', evidence for anomalous warming has become more compelling, and as a result scientists have become more concerned that human-induced climate change has already arrived. The article summarises recent extra evidence on global temperatures, carbon dioxide measurements, ice shelf breakup, coral bleaching, unstable climates and improved climate models. At the time of the Kyoto conference, the US became keen on the idea that enhancing forest and soil carbon sequestration was a good way to offset emissions reduction targets. Congress is however under the opinion on that the Kyoto protocol presents a threat to the US economy, and senate is very unlikely to ratify the protocol during the Clinton Administration. The debate as to whether the US government should mandate major emission reduction or wait for more scientific certainty may continue for a number of years, but, growing concern of scientists and the public for the harmful effects of climate change may cause a change. 4 figs., 8 photos.

  16. 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.

  17. Changing recruitment capacity in global fish stocks.

    Science.gov (United States)

    Britten, Gregory L; Dowd, Michael; Worm, Boris

    2016-01-05

    Marine fish and invertebrates are shifting their regional and global distributions in response to climate change, but it is unclear whether their productivity is being affected as well. Here we tested for time-varying trends in biological productivity parameters across 262 fish stocks of 127 species in 39 large marine ecosystems and high-seas areas (hereafter LMEs). This global meta-analysis revealed widespread changes in the relationship between spawning stock size and the production of juvenile offspring (recruitment), suggesting fundamental biological change in fish stock productivity at early life stages. Across regions, we estimate that average recruitment capacity has declined at a rate approximately equal to 3% of the historical maximum per decade. However, we observed large variability among stocks and regions; for example, highly negative trends in the North Atlantic contrast with more neutral patterns in the North Pacific. The extent of biological change in each LME was significantly related to observed changes in phytoplankton chlorophyll concentration and the intensity of historical overfishing in that ecosystem. We conclude that both environmental changes and chronic overfishing have already affected the productive capacity of many stocks at the recruitment stage of the life cycle. These results provide a baseline for ecosystem-based fisheries management and may help adjust expectations for future food production from the oceans.

  18. 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.

  19. 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.

  20. Linkage between company scores and stock returns

    Directory of Open Access Journals (Sweden)

    Saban Celik

    2017-12-01

    Full Text Available Previous studies on company scores conducted at firm-level, generally concluded that there exists a positive relation between company scores and stock returns. Motivated by these studies, this study examines the relationship between company scores (Corporate Governance Score, Economic Score, Environmental Score, and Social Score and stock returns, both at portfolio-level analysis and firm-level cross-sectional regressions. In portfolio-level analysis, stocks are sorted based on each company scores and quintile portfolio are formed with different levels of company scores. Then, existence and significance of raw returns and risk-adjusted returns difference between portfolios with the extreme company scores (portfolio 10 and portfolio 1 is tested. In addition, firm-level cross-sectional regression is performed to examine the significance of company scores effects with control variables. While portfolio-level analysis results indicate that there is no significant relation between company scores and stock returns; firm-level analysis indicates that economic, environmental, and social scores have effect on stock returns, however, significance and direction of these effects change, depending on the included control variables in the cross-sectional regression.

  1. 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.

  2. Experiments and simulation of a net closing mechanism for tether-net capture of space debris

    Science.gov (United States)

    Sharf, Inna; Thomsen, Benjamin; Botta, Eleonora M.; Misra, Arun K.

    2017-10-01

    This research addresses the design and testing of a debris containment system for use in a tether-net approach to space debris removal. The tether-net active debris removal involves the ejection of a net from a spacecraft by applying impulses to masses on the net, subsequent expansion of the net, the envelopment and capture of the debris target, and the de-orbiting of the debris via a tether to the chaser spacecraft. To ensure a debris removal mission's success, it is important that the debris be successfully captured and then, secured within the net. To this end, we present a concept for a net closing mechanism, which we believe will permit consistently successful debris capture via a simple and unobtrusive design. This net closing system functions by extending the main tether connecting the chaser spacecraft and the net vertex to the perimeter and around the perimeter of the net, allowing the tether to actuate closure of the net in a manner similar to a cinch cord. A particular embodiment of the design in a laboratory test-bed is described: the test-bed itself is comprised of a scaled-down tether-net, a supporting frame and a mock-up debris. Experiments conducted with the facility demonstrate the practicality of the net closing system. A model of the net closure concept has been integrated into the previously developed dynamics simulator of the chaser/tether-net/debris system. Simulations under tether tensioning conditions demonstrate the effectiveness of the closure concept for debris containment, in the gravity-free environment of space, for a realistic debris target. The on-ground experimental test-bed is also used to showcase its utility for validating the dynamics simulation of the net deployment, and a full-scale automated setup would make possible a range of validation studies of other aspects of a tether-net debris capture mission.

  3. THE PLACE OF BUCHAREST STOCK EXCHANGE AMONGST THE CAPITAL MARKETS FROM CENTRAL AND EASTERN EUROPE

    OpenAIRE

    Iulia-Oana Stefan

    2015-01-01

    This study performs a thorough comparative analysis over the last five years on the activity of Bucharest Stock Exchange compared to that of the major stock exchanges in Central and Eastern Europe, respectively, the Bulgarian Stock Exchange, the Bratislava Stock Exchange, the CEESEG Budapest Stock Exchange, the CEESEG Ljubljana Stock Exchange, the CEESEG Prague Stock Exchange and the Warsaw Stock Exchange. Thus, through a correlated interpretation of both the evolution of the main stock marke...

  4. Price smarter on the Net.

    Science.gov (United States)

    Baker, W; Marn, M; Zawada, C

    2001-02-01

    Companies generally have set prices on the Internet in two ways. Many start-ups have offered untenably low prices in a rush to capture first-mover advantage. Many incumbents have simply charged the same prices on-line as they do off-line. Either way, companies are missing a big opportunity. The fundamental value of the Internet lies not in lowering prices or making them consistent but in optimizing them. After all, if it's easy for customers to compare prices on the Internet, it's also easy for companies to track customers' behavior and adjust prices accordingly. The Net lets companies optimize prices in three ways. First, it lets them set and announce prices with greater precision. Different prices can be tested easily, and customers' responses can be collected instantly. Companies can set the most profitable prices, and they can tap into previously hidden customer demand. Second, because it's so easy to change prices on the Internet, companies can adjust prices in response to even small fluctuations in market conditions, customer demand, or competitors' behavior. Third, companies can use the clickstream data and purchase histories that it collects through the Internet to segment customers quickly. Then it can offer segment-specific prices or promotions immediately. By taking full advantage of the unique possibilities afforded by the Internet to set prices with precision, adapt to changing circumstances quickly, and segment customers accurately, companies can get their pricing right. It's one of the ultimate drivers of e-business success.

  5. 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

  6. Protein nutrition of growing cattle

    International Nuclear Information System (INIS)

    Chalupa, W.; Scott, G.C.

    1976-01-01

    In vitro studies on apparent degradation of amino acids by mixed and pure cultures of rumen bacteria demonstrated that (a) amino acids are degraded at differing rates (Arg, Thr>Lys, Phe, Leu, Ile>Val, Met); (b) certain amino acids (Met, Val, Try, Orn) are degraded to greater extents when fermented alone than in conjunction with other amino acids; (c) individual strains of rumen bacteria do not utilize all amino acids; and (d) total ruminal degradation of amino acids is the result of extensive bacterial interaction, and may vary greatly depending on the predominant types of micro-organisms present. Abomasal infusion of a mixture of 10 essential amino acids consistently increased nitrogen retention, but attempts to elucidate primary limiting amino acids were not conclusive. Our data suggested that supplementary methionine alone may not significantly increase nitrogen retention, but methionine must be present in order to obtain responses from other amino acids. Methionine plus lysine plus threonine usually increased nitrogen retention, but the magnitude of responses varied. The classical nitrogen balance technique may lack the sensitivity needed to detect small responses resulting from supplements of single amino acids, or growing cattle, unlike sheep used for wool growth, may not be suffering from specific amino acid deficiencies. Chemical suppression of ruminal degradation of amino acids produced significant increases in nitrogen retention and growth, and improved feed efficiencies. Productivity responses to rumen bypass techniques would seem to depend primarily upon (a) the degree to which dietary protein is degraded in the rumen, and (b) the quantity of absorbable amino acids supplied by the diet in relation to quantities required by the animal. (author)

  7. Growing population causes of unemployment.

    Science.gov (United States)

    1995-01-01

    At the March, 1995, International Meeting on Population and Social Development in Copenhagen, during the session on unemployment, underemployment, and population it was stated that the problem of employment was the extent to which a nation's labor supply was not matched by labor demand or job opportunities. Population was thus a supply factor, and the country's economic situation was a demand factor. The demographic variables that were considered important in the supply of labor were: a) the size and rate of growth of the population, which was a function of the birth rate, the death rate, and migration; and b) the age structure of the population, which was also a product of the rate of growth of the population and its distribution. An imbalance between the supply of labor and the demand for it gave rise to unemployment and underemployment. The vicious cycle generated by a high dependency burden associated with a young age-structure led to low savings and investments, which in turn led to low economic growth and a low standard of living. This produced high fertility rates, which in turn heightened the dependency burden perpetuating the cycle. This vicious cycle could be broken at only two points: at the high fertility stage, primarily by introducing family planning programs; and at the stage of low economic growth, by adopting policies to accelerate economic growth. To be successful, however, both actions had to be pursued simultaneously. Numerous participants emphasized the global nature of the issue of unemployment and underemployment; the effects of international competition and restrictive trade policies on employment opportunities. The growing disparity between North and South had created a social injustice between countries. Several participants called for more humane policies that favored democracy and promoted human development, and asked for assistance to help create an enabling environment for social and economic development.

  8. HANPP Collection: Human Appropriation of Net Primary Productivity as a Percentage of Net Primary Productivity

    Data.gov (United States)

    National Aeronautics and Space Administration — The Human Appropriation of Net Primary Productivity (HANPP) as a Percentage of Net Primary Product (NPP) portion of the HANPP Collection represents a map identifying...

  9. 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.

  10. Flight to Safety from European Stock Markets

    DEFF Research Database (Denmark)

    Aslanidis, Nektarios; Christiansen, Charlotte

    -return trade-off is positive and during flight-to-safety episodes it is negative. The effects of flight-to-safety episodes on the risk-return trade-off are qualitatively similar for own country flight-to-safety episodes, for flight from own country stock market to the US bond market, and for US flight......This paper investigates flight-to-safety from stocks to bonds in seven European markets. We use quantile regressions to identify flight-to-safety episodes. The simple risk-return trade-off on the stock markets is negative which is caused by flight-to-safety episodes: During normal periods, the risk...

  11. An Intelligent Model for Stock Market Prediction

    Directory of Open Access Journals (Sweden)

    IbrahimM. Hamed

    2012-08-01

    Full Text Available This paper presents an intelligent model for stock market signal prediction using Multi-Layer Perceptron (MLP Artificial Neural Networks (ANN. Blind source separation technique, from signal processing, is integrated with the learning phase of the constructed baseline MLP ANN to overcome the problems of prediction accuracy and lack of generalization. Kullback Leibler Divergence (KLD is used, as a learning algorithm, because it converges fast and provides generalization in the learning mechanism. Both accuracy and efficiency of the proposed model were confirmed through the Microsoft stock, from wall-street market, and various data sets, from different sectors of the Egyptian stock market. In addition, sensitivity analysis was conducted on the various parameters of the model to ensure the coverage of the generalization issue. Finally, statistical significance was examined using ANOVA test.

  12. 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.

  13. 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.

  14. Lists of semi-dwarf cereal stocks

    International Nuclear Information System (INIS)

    1984-01-01

    The lists are prepared in relation to the Co-ordinated Research Programme. At the first Research Co-ordination Meeting on evaluation of cereal semi-dwarf mutants for cross breeding, March 1981, programme participants were requested to list semi-dwarf mutants available at their institutes including also non-induced semi-dwarf stocks being used in cross-breeding programme for short stature. List-I is prepared from such lists provided by programme participants. Further it was requested to name breeders and institutes providing characteristics of the listed semi-dwarf stocks. List-II gives that information. In the List-I: Parents of semi-dwarf stocks derived from cross breeding, are shown in brackets. In column ''Culm length'', figures are in cm and those of parent cultivars are shown in brackets

  15. 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.

  16. Energy savings in Danish residential building stock

    DEFF Research Database (Denmark)

    Tommerup, Henrik M.; Svendsen, Svend

    2006-01-01

    a short account of the technical energy-saving possibilities that are present in existing dwellings and presents a financial methodology used for assessing energy-saving measures. In order to estimate the total savings potential detailed calculations have been performed in a case with two typical...... buildings representing the residential building stock and based on these calculations an assessment of the energy-saving potential is performed. A profitable savings potential of energy used for space heating of about 80% is identified over 45 years (until 2050) within the residential building stock......A large potential for energy savings exists in the Danish residential building stock due to the fact that 75% of the buildings were constructed before 1979 when the first important demands for energy performance of building were introduced. It is also a fact that many buildings in Denmark face...

  17. A national scale estimation of soil carbon stocks of Pinus densiflora forests in Korea: a modelling approach

    Science.gov (United States)

    Yi, K.; Park, C.; Ryu, S.; Lee, K.; Yi, M.; Kim, C.; Park, G.; Kim, R.; Son, Y.

    2011-12-01

    Soil carbon (C) stocks of Pinus densiflora forests in Korea were estimated using a generic forest soil C dynamics model based on the process of dead organic matter input and decomposition. Annual input of dead organic matter to the soil was determined by stand biomass and turnover rates of tree components (stem, branch, twig, foliage, coarse root, and fine root). The model was designed to have a simplified structure consisting of three dead organic matter C (DOC) pools (aboveground woody debris (AWD), belowground woody debris (BWD), and litter (LTR) pool) and one soil organic C (SOC) pool. C flows in the model were regulated by six turnover rates of stem, branch, twig, foliage, coarse root, and fine root, and four decay rates of AWD, BWD, LTR, and SOC. To simulate the soil C stocks of P. densiflora forests, statistical data of forest land area (1,339,791 ha) and growing stock (191,896,089 m3) sorted by region (nine provinces and seven metropolitan cities) and stand age class (11 to 20- (II), 21 to 30- (III), 31 to 40- (IV), 41 to 50- (V), and 51 to 60-year-old (VI)) were used. The growing stock of each stand age class was calculated for every region and representable site index was also determined by consulting the yield table. Other model parameters related to the stand biomass, annual input of dead organic matter and decomposition were estimated from previous studies conducted on P. densiflora forests in Korea, which were also applied for model validation. As a result of simulation, total soil C stock of P. densiflora forests were estimated as 53.9 MtC and soil C stocks per unit area ranged from 28.71 to 47.81 tC ha-1 within the soil depth of 30 cm. Also, soil C stocks in the P. densiflora forests of age class II, III, IV, V, and VI were 16,780,818, 21,450,812, 12,677,872, 2,366,939, and 578,623 tC, respectively, and highly related to the distribution of age classes. Soil C stocks per unit area initially decreased with stand age class and started to increase

  18. Statistical properties of trading activity in Chinese stock market

    Science.gov (United States)

    Sun, Xiaoqian; Cheng, Xueqi; Shen, Huawei; Wang, Zhaoyang

    2010-08-01

    We investigate the statistical properties of traders' trading behavior using cumulative distribution function(CDF). We analyze exchange data of 52 stocks for one-year period which contains non-manipulated stocks and manipulated stocks published by China Securities Regulatory Commission(CSRC). By analyzing the total number of transactions and the trading volume of each trader over a year, we find the cumulative distributions have power-law tails and the distributions between non-manipulated stocks and manipulated stocks are different. These findings can help us to detect the manipulated stocks.

  19. How Your Fetus Grows During Pregnancy

    Science.gov (United States)

    ... Patients About ACOG How Your Fetus Grows During Pregnancy Home For Patients Search FAQs How Your Fetus ... 2018 PDF Format How Your Fetus Grows During Pregnancy Pregnancy How does pregnancy begin? What is the ...

  20. Menopausal women's positive experience of growing older

    DEFF Research Database (Denmark)

    Hvas, Lotte

    2006-01-01

    This paper aims to describe menopausal women's positive experience of growing older and becoming middle-aged.......This paper aims to describe menopausal women's positive experience of growing older and becoming middle-aged....