Christopher W. Woodall; David W. MacFarlane
Given the importance of standing dead trees in numerous forest ecosystem attributes/processes such as carbon (C) stocks, the USDA Forest Serviceâs Forest Inventory and Analysis (FIA) program began consistent nationwide sampling of standing dead trees in 1999. Modeled estimates of standing dead tree C stocks are currently used as the official C stock estimates for the...
Songlin Fei; Kim C. Steiner; James C. Finley
Regeneration stocking equations for mixed-oak stands were developed based on data collected from nearly 14,000 plots in the central Appalachians. Maximum stand density was identified by plotting aggregate height against number of seedlings per plot, and was used as the reference level of the average maximum stand density (100 percent stocking or A-level stocking)....
Jeffrey T. Olson; Allen L. Lundgren
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.
Christopher W. Woodall; Anthony W. D' Amato; John B. Bradford; Andrew O. Finley
There is expanding interest in management strategies that maximize forest carbon (C) storage to mitigate increased atmospheric carbon dioxide. The tremendous tree species diversity and range of stand stocking found across the eastern United States presents a challenge for determining optimal combinations for the maximization of standing tree C storage. Using a...
Temporal and spatial variability in standing stock and zooplankton composition at 5 stations along the Goa Coast, India during 1975-76 were studied. Standing stock values ranged from 22.81 to 53.65 mg C.m/3. Zooplankton community was diverse...
Ivan L. Sander
Results from a shortleaf pine thinning study in Missouri show that continually thinning a stand to the same basal area will eventually create an understocked stand and reduce yields. Using stocking percent to control thinning intensity allows basal area to increase as stands get older. The best yield should occur when shortleaf pine is repeatedly thinned to 60 percent...
Thomas R. Crow; Carl H. Tubbs; Rodney D. Jacobs; Robert R. Oberg
The impacts of stocking, structure, and cutting cycle on basal area, cubic foot volume, board foot volume, and diameter growth are considered. Recommendations are provided for maximum growth in uneven-aged sugar maple stands.
Sellman, Jake; Dykstra, Tim [Shoshone-Paiute Tribes
The Duck Valley Reservoirs Fish Stocking and Operations and Maintenance (DV Fisheries) project is an ongoing resident fish program designed to enhance both subsistence fishing, educational opportunities for Tribal members of the Shoshone-Paiute Tribes, and recreational fishing facilities for non-Tribal members. In addition to stocking rainbow trout (Oncorhynchus mykiss) in Mountain View, Lake Billy Shaw, and Sheep Creek Reservoirs, the program also intends to afford and maintain healthy aquatic conditions for fish growth and survival, to provide superior facilities with wilderness qualities to attract non-Tribal angler use, and to offer clear, consistent communication with the Tribal community about this project as well as outreach and education within the region and the local community. Tasks for this performance period are divided into operations and maintenance plus monitoring and evaluation. Operation and maintenance of the three reservoirs include fences, roads, dams and all reservoir structures, feeder canals, water troughs and stock ponds, educational signs, vehicles and equipment, and outhouses. Monitoring and evaluation activities included creel, gillnet, wildlife, and bird surveys, water quality and reservoir structures monitoring, native vegetation planting, photo point documentation, control of encroaching exotic vegetation, and community outreach and education. The three reservoirs are monitored in terms of water quality and fishery success. Sheep Creek Reservoir was the least productive as a result of high turbidity levels and constraining water quality parameters. Lake Billy Shaw trout were in poorer condition than in previous years potentially as a result of water quality or other factors. Mountain View Reservoir trout exhibit the best health of the three reservoirs and was the only reservoir to receive constant flows of water.
Endi Setiadi Kartamihardja
enhancement including providing quality and quantity of seeds, regulating of fish catch, developin g of market system, institution and fisheries co-management have supported a steady yearly increase in yield. The governments should take the initiative in protection of genetic diversity, especially in stock enhancement of lakes inhabited by endemic and or threatened species, such as lakes in Sulawesi and Papua Island.
Robert F. Powers; William W. Oliver
Existing systems for estimating site index of ponderosa pine (Pinus ponderosa Laws.) do not apply well to California stands where stocking is controlled. A more suitable system has been developed using trends in natural height growth, derived from stem analysis of dominant trees in California. This site index system produces polymorphic patterns of...
Pavithran, S.; Ingole, B.S.
Diversity, distribution and standing stock of macrofauna in the nodule areas of Central Indian Ocean Basin (CIOB) were studied during April 2003. The density ranged between 22 to 132 no.m super(-2) (mean: 55 + or - 37 SD, n=25) and biomass ranged...
Goswami, S.C.; Srivastava, Y.
The effects of large scale oil spill, which occurred during the Gulf War in 1991 on zooplankton standing stock, community structure and diversity in the northern Arabian Sea were studied. Surface (1-0 m) and vertical zooplankton hauls (200-0 m, 250...
Zooplankton samples were collected from 13 stations situated in the oceanic realm between latitudes 8 degrees 49 minutes N and 19 degrees 48 minutes S in January-February, 1981. Standing stock varied between 1.6 and 10.4 ml/100 m@u3...
Sellman, Jake; Dykstra, Tim [Shoshone-Paiute Tribes
The Duck Valley Reservoirs Fish Stocking and Operations and Maintenance (DV Fisheries) project is an ongoing resident fish program that serves to partially mitigate the loss of anadromous fish that resulted from downstream construction of the hydropower system. The project's goals are to enhance subsistence fishing and educational opportunities for Tribal members of the Shoshone-Paiute Tribes and provide resident fishing opportunities for non-Tribal members. In addition to stocking rainbow trout (Oncorhynchus mykiss) in Mountain View, Lake Billy Shaw, and Sheep Creek Reservoirs, the program is also designed to maintain healthy aquatic conditions for fish growth and survival, to provide superior facilities with wilderness qualities to attract non-Tribal angler use, and to offer clear, consistent communication with the Tribal community about this project as well as outreach and education within the region and the local community. Tasks for this performance period are divided into operations and maintenance plus monitoring and evaluation. Operation and maintenance of the three reservoirs include fences, roads, dams and all reservoir structures, feeder canals, water troughs and stock ponds, educational signs, vehicles and equipment, and outhouses. Monitoring and evaluation activities included creel, gillnet, wildlife, and bird surveys, water quality and reservoir structures monitoring, native vegetation planting, photo point documentation, control of encroaching exotic vegetation, and community outreach and education. The three reservoirs are monitored in terms of water quality and fishery success. Sheep Creek Reservoir was very unproductive this year as a fishery. Fish morphometric and water quality data indicate that the turbidity is severely impacting trout survival. Lake Billy Shaw was very productive as a fishery and received good ratings from anglers. Mountain View was also productive and anglers reported a high number of quality sized fish. Water quality
Sellman, Jake; Perugini, Carol [Department of Fish, Wildlife, and Parks, Shoshone-Paiute Tribes
The Duck Valley Reservoirs Fish Stocking and Operations and Maintenance Project (DV Fisheries) is an ongoing resident fish program that serves to partially mitigate the loss of anadromous fish that resulted from downstream construction of the federal hydropower system. The project's goals are to enhance subsistence fishing and educational opportunities for Tribal members of the Shoshone-Paiute Tribes and provide fishing opportunities for non-Tribal members. In addition to stocking rainbow trout (Oncorhynchus mykiss) in Mountain View (MVR), Lake Billy Shaw (LBS), and Sheep Creek Reservoirs (SCR), the program is also designed to: maintain healthy aquatic conditions for fish growth and survival, provide superior facilities with wilderness qualities to attract non-Tribal angler use, and offer clear, consistent communication with the Tribal community about this project as well as outreach and education within the region and the local community. Tasks for this performance period fall into three categories: operations and maintenance, monitoring and evaluation, and public outreach. Operation and maintenance of the three reservoirs include maintaining fences, roads, dams and all reservoir structures, feeder canals, water troughs, stock ponds, educational signs, vehicles, equipment, and restroom facilities. Monitoring and evaluation activities include creel, gillnet, wildlife, and bird surveys, water quality and reservoir structures monitoring, native vegetation planting, photo point documentation, and control of encroaching exotic vegetation. Public outreach activities include providing environmental education to school children, providing fishing reports to local newspapers and vendors, updating the website, hosting community environmental events, and fielding numerous phone calls from anglers. The reservoir monitoring program focuses on water quality and fishery success. Sheep Creek Reservoir and Lake Billy Shaw had less than productive trout growth due to water
Madhu, N.V.; Jyothibabu, R.; Maheswaran, P.A.; Gerson, V.J.; Gopalakrishnan, T.C.; Nair, K.K.C.
The investigations in the western Bay of Bengal (BoB) during summer, winter and spring intermonsoon periods evidenced lack of pronounced seasonal variation in phytoplankton standing stock (chlorophyll a) and primary production. The supply...
Budy, Phaedra; Hafen, Konrad
The popularity of reservoirs to support sport fisheries has led to the stocking of species that did not co-evolve, creating novel reservoir fish communities. In Utah, the Bear Lake strain of Bonneville Cutthroat Trout Oncorhynchus clarkii utah and tiger trout (female Brown Trout Salmo trutta × male Brook Trout Salvelinus fontinalis) are being more frequently added to a traditional stocking regimen consisting primarily of Rainbow TroutO. mykiss. Interactions between these three predatory species are not well understood, and studies evaluating community interactions have raised concern for an overall decrease of trout condition. To evaluate the potential for negative interactions among these species, we tested aggression in laboratory aquaria using three-species and pairwise combinations at three densities. Treatments were replicated before and after feeding. During the three-species trials Rainbow Trout initiated 24.8 times more aggressive interactions than Cutthroat Trout and 10.2 times more aggressive interactions than tiger trout, and tiger trout exhibited slightly (1.9 times) more aggressive initiations than Cutthroat Trout. There was no significant difference in behavior before versus after feeding for any species, and no indication of increased aggression at higher densities. Although Rainbow Trout in aquaria may benefit from their bold, aggressive behavior, given observations of decreased relative survival in the field, these benefits may be outweighed in reservoirs, possibly through unnecessary energy expenditure and exposure to predators.
Luciano Farinha Watzlawick
Full Text Available This study aimed to estimate biomass and organic carbon in stands of Pinus taeda L. at different ages (14, 16, 19, 21, 22, 23 and 32 years and located in the municipality of General Carneiro (PR. In order to estimate biomass and organic carbon in different tree components (needles, live branches, dead branches, bark and stem wood, the destructive quantification method was used in which seven trees from each age category were randomly sampled across the stand. Stocks of biomass and organic carbon were found to vary between the different age categories, mainly as a result of existing dissimilarities between ages in association with forest management practices such as thinning, pruning and tree density per hectare.
Reinikainen, Michael; D’Amato, Anthony W.; Bradford, John B.; Fraver, Shawn
Low-severity canopy disturbance presumably influences forest carbon dynamics during the course of stand development, yet the topic has received relatively little attention. This is surprising because of the frequent occurrence of such events and the potential for both the severity and frequency of disturbances to increase as a result of climate change. We investigated the impacts of low-severity canopy disturbance and average insect defoliation on forest carbon stocks and rates of carbon sequestration in mature aspen mixedwood forests of varying stand age (ranging from 61 to 85 years), overstory composition, stocking level, and site quality. Stocking level and site quality positively affected the average annual aboveground tree carbon increment (CAAI), while stocking level, site quality, and stand age positively affected tree carbon stocks (CTREE) and total ecosystem carbon stocks (CTOTAL). Cumulative canopy disturbance (DIST) was reconstructed using dendroecological methods over a 29-year period. DIST was negatively and significantly related to soil carbon (CSOIL), and it was negatively, albeit marginally, related to CTOTAL. Minima in the annual aboveground carbon increment of trees (CAI) occurred at sites during defoliation of aspen (Populus tremuloides Michx.) by forest tent caterpillar (Malacosoma disstria Hubner), and minima were more extreme at sites dominated by trembling aspen than sites mixed with conifers. At sites defoliated by forest tent caterpillar in the early 2000s, increased sequestration by the softwood component (Abies balsamea (L.) Mill. and Picea glauca (Moench) Voss) compensated for overall decreases in CAI by 17% on average. These results underscore the importance of accounting for low-severity canopy disturbance events when developing regional forest carbon models and argue for the restoration and maintenance of historically important conifer species within aspen mixedwoods to enhance stand-level resilience to disturbance agents and maintain
Scheibel, Natalie C.; Dembkowski, Daniel J.; Davis, Jacob L.; Chipps, Steven R.
Establishment of nonnative Northern Pike Esox lucius in Pactola Reservoir, South Dakota, has prompted concern among biologists about the influence of this species on the lake’s intensively managed salmonid fisheries. Ancedotal information suggests that catch rates of Rainbow Trout Oncorhynchus mykiss have declined while mean size and abundance of Northern Pike has increased, although quantitative information on diet and growth of the Northern Pike population is lacking. To address potential interactions between Northern Pike and Rainbow Trout, we assessed size-dependent predation by Northern Pike on Rainbow Trout and determined the relative energetic contribution of stocked Rainbow Trout to Northern Pike growth using bioenergetics modeling. Stable isotopes combined with traditional diet analyses revealed that smaller Northern Pike (Trout contributed less than 10% to their annual energy consumption. In contrast, larger Northern Pike (≥600 mm TL) consumed primarily Rainbow Trout, which accounted for 56% of their annual energy consumption. Combining estimates of Northern Pike predation with production costs of catchable-size Rainbow Trout revealed that annual economic losses ranged from US$15,259 to $24,801 per year. Over its lifespan, an age-10 Northern Pike was estimated to consume ~117 Rainbow Trout worth approximately $340. Thus, Northern Pike predation substantially influences salmonid management initiatives and is likely a primary factor contributing to reduced Rainbow Trout abundance and return to anglers in Pactola Reservoir. Strategies for reducing Northern Pike predation on Rainbow Trout include increasing the size of stocked fish or altering the timing and spatial distribution of stocking events.
Bernardo, Julio Werner Yoshioka; Mannich, Michael; Hilgert, Stephan; Fernandes, Cristovão Vicente Scapulatempo; Bleninger, Tobias
Sustainability of hydropower reservoirs has been questioned since the detection of their greenhouse gas (GHG) emissions which are mainly composed of carbon dioxide and methane. A method to assess the impact on the carbon cycle caused by the transition from a natural river system into a reservoir is presented and discussed. The method evaluates the long term changes in carbon stock instead of the current approach of monitoring and integrating continuous short term fluxes. A case study was conducted in a subtropical reservoir in Brazil, showing that the carbon content within the reservoir exceeds that of the previous landuse. The average carbon sequestration over 43 years since damming was 895 mg C m[Formula: see text] and found to be mainly due to storage of carbon in sediments. These results demonstrate that reservoirs have two opposite effects on the balance of GHGs. By storing organic C in sediments, reservoirs are an important carbon sink. On the other hand, reservoirs increase the flux of methane into the atmosphere. If the sediments of reservoirs could be used for long term C storage, reservoirs might have a positive effect on the balance of GHGs.
Mesa, Matthew G.; Duke, S.D.; Ward, David L.
Population data for smallmouth bass Micropterus dolomieui in 20,235 ha John Day Reservoir on the Columbia River were used to (1) determine whether Proportional Stock Density (PSD) and Relative Weight (Wr) varied spatially and temporally in two areas of the reservoir with established smallmouth bass fisheries; (2) explore possible causes of any observed variation; and (3) discuss some management implications and recommendations. Both PSD and Wr varied spatially and monthly in all years examined. On an annual basis, PSD varied at one area but not at the other, whereas Wr showed little variation. Possible explanations for the variation in PSD and Wr are differences in growth, mortality, recruitment, and exploitation. Our data suggested that regulations established or changed on a reservoir-wide basis may have different effects on the fishery, depending on location in the reservoir. Also, pooling data from various areas within a reservoir to yield point estimates of structural indices may not represent the variation present in the population as a whole. The significant temporal variability reflects the importance of determining the proper time to sample fish to yield representative estimates of the variable of interest. In areas with valuable fisheries or markedly different population structures, we suggest that an area-specific approach be made to reservoir fishery management, and that efforts be made toward effecting consistent harvest regulations in interstate waters.
Grossmann, Sönnke; Dieckmann, Gerhard S.
Bacterial response to formation and growth of sea ice was investigated during autumn in the northeastern Weddell Sea. Changes in standing stock, activity, and carbon production of bacteria were determined in successive stages of ice development. During initial ice formation, concentrations of bacterial cells, in the order of 1 × 108 to 3 × 108 liter-1, were not enhanced within the ice matrix. This suggests that physical enrichment of bacteria by ice crystals is not effective. Due to low conce...
Colom-Cadena, Andreu; Velarde, Roser; Salinas, Jesús; Borge, Carmen; García-Bocanegra, Ignacio; Serrano, Emmanuel; Gassó, Diana; Bach, Ester; Casas-Díaz, Encarna; López-Olvera, Jorge R; Lavín, Santiago; León-Vizcaíno, Luís; Mentaberre, Gregorio
In 2010, an Iberian ibex (Capra pyrenaica hispanica) stock reservoir was established for conservation purposes in north-eastern Spain. Eighteen ibexes were captured in the wild and housed in a 17 hectare enclosure. Once in captivity, a caseous lymphadenitis (CLA) outbreak occurred and ibex handlings were carried out at six-month intervals between 2010 and 2013 to perform health examinations and sampling. Treatment with a bacterin-based autovaccine and penicillin G benzatine was added during the third and subsequent handlings, when infection by Corynebacterium pseudotuberculosis was confirmed. Changes in lesion score, serum anti-C. pseudotuberculosis antibodies and haematological parameters were analyzed to assess captivity effects, disease emergence and treatment efficacy. Serum acute phase proteins (APP) Haptoglobin (Hp), Amyloid A (SAA) and Acid Soluble Glycoprotein (ASG) concentrations were also determined to evaluate their usefulness as indicators of clinical status. Once in captivity, 12 out of 14 ibexes (85.7%) seroconverted, preceding the emergence of clinical signs; moreover, TP, WBC, eosinophil and platelet cell counts increased while monocyte and basophil cell counts decreased. After treatment, casualties and fistulas disappeared and both packed cell volume (PCV) and haemoglobin concentration significantly increased. Hp, SAA and ASG values were under the limit of detection or showed no significant differences. A role for captivity in contagion rate is suggested by the increase in antibody levels against C. pseudotuberculosis and the emergence of clinical signs. Although boosted by captivity, this is the first report of an outbreak of caseous lymphadenitis displaying high morbidity and mortality in wild ungulates. Treatment consisting of both vaccination and antibiotic therapy seemed to prevent mortality and alleviate disease severity, but was not reflected in the humoural response. Haematology and APP were not useful indicators in our study, perhaps due
Harmon, Brian S.; Martin, Dustin R.; Chizinski, Christopher J.; Pope, Kevin L.
We investigated the spatial and temporal relationship of catch rates and angler party location for two days following a publicly announced put-and-take stocking of rainbow trout (Oncorhynchus mykiss). Catch rates declined with time since stocking and distance from stocking. We hypothesized that opportunity for high catch rates would cause anglers to fish near the stocking location and disperse with time, however distance between angler parties and stocking was highly variable at any given time. Spatially explicit differences in catch rates can affect fishing quality. Further research could investigate the variation between angler distribution and fish distribution within a waterbody.
Matthew D. Powers; Randall K. Kolka; John B. Bradford; Brian J. Palik; Shawn Fraver; Martin F. Jurgensen
Forests function as a major global C sink, and forest management strategies that maximize C stocks offer one possible means of mitigating the impacts of increasing anthropogenic CO2 emissions. We studied the effects of thinning, a common management technique in many forest types, on age-related trends in C stocks using a chronosequence of thinned...
Krauss, K.; Noe, G. B.; Duberstein, J. A.; Conner, W. H.; Stagg, C. L.; Jones, M.; Bernhardt, C. E.; Cormier, N.
Assessments of organic carbon (C) standing stocks and fluxes as wetland ecosystems transition from tidally influenced freshwater forested wetlands to low-salinity marshes are not typically included in "blue carbon" accounting. However, these ecosystems have the potential to store and convey large quantities of C. Here, we report on data collected from eight riverine sites along salinity and hydro-edaphic gradients in South Carolina and Georgia to provide the first complete estimates of C storage, flux, and burial, including estimation of C export to aquatic environments, in tidal freshwater forested wetlands undergoing transition to oligohaline marsh. Total standing stocks of C ranged from 280 to 891 Mg C/ha along both rivers but with no consistent trend in standing stock shifts along salinity gradients between the two rivers. Soil C standing stocks were most variable among sites. Furthermore, we assessed input (litterfall, woody growth, herbaceous growth, root growth and surface sediment C accretion) in comparison with output (surface litter decomposition, root decomposition and gaseous C) fluxes over periods ranging from 2 to 11 years. C sequestration from mass balance calculations ranged from 103 to 728 g C/m2/year among sites, with generally greater C sequestration on sites with prominent salinity-mediated conversion to oligohaline marsh. Dissolved C export was estimated as the difference between C sequestration and soil C burial using 14C dating of cores, and ranged from 144 to 404 g C/m2/year, representing a large amount of C export to feed aquatic biogeochemical transformations and secondary productivity. Along with C accounting, these sites also differed in how N and P were mineralized in soils, with considerable N mineralization on salinity-stressed (2.4-4.3 parts per thousand) forested sites with newly encroached marsh plants and considerable P mineralization on slightly higher salinity marshes. In all, C storage from tidal freshwater forested wetlands
Domke Grant M
Full Text Available Abstract Background Standing dead trees are one component of forest ecosystem dead wood carbon (C pools, whose national stock is estimated by the U.S. as required by the United Nations Framework Convention on Climate Change. Historically, standing dead tree C has been estimated as a function of live tree growing stock volume in the U.S.'s National Greenhouse Gas Inventory. Initiated in 1998, the USDA Forest Service's Forest Inventory and Analysis program (responsible for compiling the Nation's forest C estimates began consistent nationwide sampling of standing dead trees, which may now supplant previous purely model-based approaches to standing dead biomass and C stock estimation. A substantial hurdle to estimating standing dead tree biomass and C attributes is that traditional estimation procedures are based on merchantability paradigms that may not reflect density reductions or structural loss due to decomposition common in standing dead trees. The goal of this study was to incorporate standing dead tree adjustments into the current estimation procedures and assess how biomass and C stocks change at multiple spatial scales. Results Accounting for decay and structural loss in standing dead trees significantly decreased tree- and plot-level C stock estimates (and subsequent C stocks by decay class and tree component. At a regional scale, incorporating adjustment factors decreased standing dead quaking aspen biomass estimates by almost 50 percent in the Lake States and Douglas-fir estimates by more than 36 percent in the Pacific Northwest. Conclusions Substantial overestimates of standing dead tree biomass and C stocks occur when one does not account for density reductions or structural loss. Forest inventory estimation procedures that are descended from merchantability standards may need to be revised toward a more holistic approach to determining standing dead tree biomass and C attributes (i.e., attributes of tree biomass outside of sawlog
Krishnakumari, L.; Achuthankutty, C.T.
function as a reserve food in tropical zooplankton. Lipid, carbohydrate, ash, carbon and calorific content did not show much variation. Standing crop was estimated as 352.13 mgC.m super(2) for the upper 50m column of the coastal region, 716.82 mgC.M super(2...
Deegan, Linda A.; Peterson, B.J.; Golden, H.; McIvor, C.C.; Miller, M.C.
This study examined the relative importance of bottom-up and top-down controls of an arctic stream food web by simultaneous manipulation of the top predator and nutrient availability. We created a two-step trophic system (algae to insects) by removal of the top predator (Arctic grayling, Thymallus arcticus) in fertilized and control stream reaches. Fish abundance was also increased 10 times to examine the effect of high fish density on stream ecosystem dynamics and fish. We measured the response of epilithic algae, benthic and drifting insects, and fish to nutrient enrichment and to changes in fish density. Insect grazers had little effect on algae and fish had little effect on insects. In both the control and fertilized reaches, fish growth, energy storage, and reproductive response of females declined with increased fish density. Fish growth and energy storage were more closely correlated with per capita insect availability than with per capita algal standing stock
Jeffrey H. Gove; Mark J. Ducey
Management guides for uneven-aged forest stands periodically need to be revisited and updated based on new information and methods. The current silvicultural guide for uneven-aged spruce-fir management in Maine and the northeast (Frank, R.M. and Bjorkbom, J.C. 1973 A silvicultural guide for spruce-fir in the northeast. General Technical Report NE-6, Forest Service. U.S...
Grossmann, S; Dieckmann, G S
Bacterial response to formation and growth of sea ice was investigated during autumn in the northeastern Weddell Sea. Changes in standing stock, activity, and carbon production of bacteria were determined in successive stages of ice development. During initial ice formation, concentrations of bacterial cells, in the order of 1 x 10 to 3 x 10 liter, were not enhanced within the ice matrix. This suggests that physical enrichment of bacteria by ice crystals is not effective. Due to low concentrations of phytoplankton in the water column during freezing, incorporation of bacteria into newly formed ice via attachment to algal cells or aggregates was not recorded in this study. As soon as the ice had formed, the general metabolic activity of bacterial populations was strongly suppressed. Furthermore, the ratio of [H]leucine incorporation into proteins to [H]thymidine incorporation into DNA changed during ice growth. In thick pack ice, bacterial activity recovered and growth rates up to 0.6 day indicated actively dividing populations. However, biomass-specific utilization of organic compounds remained lower than in open water. Bacterial concentrations of up to 2.8 x 10 cells liter along with considerably enlarged cell volumes accumulated within thick pack ice, suggesting reduced mortality rates of bacteria within the small brine pores. In the course of ice development, bacterial carbon production increased from about 0.01 to 0.4 mug of C liter h. In thick ice, bacterial secondary production exceeded primary production of microalgae.
Vorrath, Maria-Elena; Lahajnar, Niko; Fischer, Gerhard; Libuku, Viktor Miti; Schmidt, Martin; Emeis, Kay-Christian
Marine particle fluxes from high productive coastal upwelling systems return upwelled CO2 and nutrients to the deep ocean and sediments and have a substantial impact on the global carbon cycle. This study examines relations between production regimes on the shelf and over the continental margin of the Benguela Upwelling System (BUS) in the SE Atlantic Ocean. Data of composition and timing of vertical particle flux come from sediment trap time series (deployed intermittently between 1988 and 2014) in the regions Walvis Ridge, Walvis Bay, Luederitz and Orange River. We compare their seasonal variability to modelled patterns of chlorophyll concentrations in a 3-D ecosystem model. Both modelled seasonal chlorophyll a standing stocks and sampled particle flux patterns are highly correspondent with a bimodal seasonal cycle offshore the BUS. The material in the particle flux in offshore traps is dominantly carbonate (40-70%), and flux peaks in offshore particle flux originate from two independent events: in austral autumn thermocline shoaling and vertical mixing are decoupled from coastal upwelling, while fluxes in spring coincide with the upwelling season, indicated by slightly elevated biogenic opal values at some locations. Coastal particle fluxes are characterized by a trimodal pattern and are dominated by biogenic opal (22-35%) and organic matter (30-60%). The distinct seasonality in observed fluxes on the shelf is caused by high variability in production, sinking behaviour, wind stress, and hydrodynamic processes. We speculate that global warming will increase ocean stratification and alter coastal upwelling, so that consequences for primary production and particle flux in the BUS are inevitable.
Full Text Available Managers of forested water supply catchments require efficient and accurate methods to quantify changes in forest water use due to changes in forest structure and density after disturbance. Using Light Detection and Ranging (LiDAR data with as few as 0.9 pulses m−2, we applied a local maximum filtering (LMF method and normalised cut (NCut algorithm to predict stocking density (SDen of a 69-year-old Eucalyptus regnans forest comprising 251 plots with resolution of the order of 0.04 ha. Using the NCut method we predicted basal area (BAHa per hectare and sapwood area (SAHa per hectare, a well-established proxy for transpiration. Sapwood area was also indirectly estimated with allometric relationships dependent on LiDAR derived SDen and BAHa using a computationally efficient procedure. The individual tree detection (ITD rates for the LMF and NCut methods respectively had 72% and 68% of stems correctly identified, 25% and 20% of stems missed, and 2% and 12% of stems over-segmented. The significantly higher computational requirement of the NCut algorithm makes the LMF method more suitable for predicting SDen across large forested areas. Using NCut derived ITD segments, observed versus predicted stand BAHa had R2 ranging from 0.70 to 0.98 across six catchments, whereas a generalised parsimonious model applied to all sites used the portion of hits greater than 37 m in height (PH37 to explain 68% of BAHa. For extrapolating one ha resolution SAHa estimates across large forested catchments, we found that directly relating SAHa to NCut derived LiDAR indices (R2 = 0.56 was slightly more accurate but computationally more demanding than indirect estimates of SAHa using allometric relationships consisting of BAHa (R2 = 0.50 or a sapwood perimeter index, defined as (BAHaSDen½ (R2 = 0.48.
Grzelak, Katarzyna; Kotwicki, Lech; Hasemann, Christiane; Soltwedel, Thomas
Bathymetric patterns in standing stocks and diversity are a major topic of investigation in deep-sea biology. From the literature, responses of metazoan meiofauna and nematodes to bathymetric gradients are well studied, with a general decrease in biomass and abundance with increasing water depth, while bathymetric diversity gradients often, although it is not a rule, show a unimodal pattern. Spatial distribution patterns of nematode communities along bathymetric gradients are coupled with surface-water processes and interacting physical and biological factors within the benthic system. We studied the nematode communities at the Long-Term Ecological Research (LTER) observatory HAUSGARTEN, located in the Fram Strait at the Marginal Ice Zone, with respect to their standing stocks as well as structural and functional diversity. We evaluated whether nematode density, biomass and diversity indices, such as H0, Hinf, EG(50), Θ- 1, are linked with environmental conditions along a bathymetric transect spanning from 1200 m to 5500 m water depth. Nematode abundance, biomass and diversity, as well as food availability from phytodetritus sedimentation (indicated by chloroplastic pigments in the sediments), were higher at the stations located at upper bathyal depths (1200-2000 m) and tended to decrease with increasing water depth. A faunal shift was found below 3500 m water depth, where genus composition and trophic structure changed significantly and structural diversity indices markedly decreased. A strong dominance of very few genera and its high turnover particularly at the abyssal stations (4000-5500 m) suggests that environmental conditions were rather unfavorable for most genera. Despite the high concentrations of sediment-bound chloroplastic pigments and elevated standing stocks found at the deepest station (5500 m), nematode genus diversity remained the lowest compared to all other stations. This study provides a further insight into the knowledge of deep-sea nematodes
Jagadeesan, L; Jyothibabu, R; Arunpandi, N; Parthasarathi, S
The grazing rate of copepods on the total and size-fractionated phytoplankton biomass in a coastal environment (off Kochi, southwest coast of India) were measured during pre-monsoon (PRM), peak southwest monsoon (PKSWM), late southwest monsoon (LSWM) and post-southwest monsoon (PSWM). The phytoplankton standing stock (chlorophyll a-Chl. a) and growth rate (GR) were less during the PRM (Chl. a 0.58 mg m -3 ; GR 0.23 ± 0.02) and PSWM (Chl. a 0.89 mg m -3 ; GR 0.30 ± 0.05) compared to PKSWM (Chl. a 6.67 mg m -3 ; GR 0.43 ± 0.02) and LSWM (Chl. a 4.09 mg m -3 ; GR 0.40 ± 0.04). The microplankton contribution to the total Chl. a was significant during the PKSWM (41.83%) and LSWM (45.72%). Copepod density was lesser during the PRM (1354 No m -3 ) and PSWM (1606 No m -3 ) than during PKSWM and LSWM (4571 and 3432 No m -3 , respectively). Seasonal changes in phytoplankton biomass, phytoplankton size structure, and copepod community were closely related to the hydrographical transformations in the study domain. Dominant calanoid copepods in the study region ingested 8.4 to 14.2% of their daily ration from phytoplankton during the PRM and PSWM, which increased to >50% during the PKSWM and LSWM. The cyclopoid Oithona similis was abundant during the PKSWM, ingesting only 21% of their daily ration from phytoplankton. Temporal variation in the phytoplankton biomass and copepod species composition caused differences in community level top-down control. The copepod community ingestion on phytoplankton was high during the LSWM (18,583 μg C m -3 d -1 ), followed by PKSWM (9050 μg C m -3 d -1 ), PSWM (1813 μg C m -3 d -1 ), and PRM (946 μg C m -3 d -1 ). During the low Chl. a period (PRM and PSWM), dominant calanoid copepods showed a positive selectivity for the micro- and nano-phytoplankton size fractions, whereas during the high Chl. a period (PKSWM and LSWM), they showed a positive selection for nano-phytoplankton fractions. Irrespective
D'Sa, E. J.; Joshi, I.; Osburn, C. L.; Bianchi, T. S.; Ko, D. S.; Oviedo-Vargas, D.; Arellano, A.; Ward, N.
Apalachicola Bay, a semi-enclosed estuary located in Florida's panhandle, is well known for its water quality and oyster yields. We present the use of combined field and ocean color satellite observations and the outputs of a high-resolution hydrodynamic model to study the influence of physical processes on the distribution and the transport of terrestrially derived CDOM and DOC to shelf waters during the spring and fall of 2015. Determination of DOC stocks were based on the development of a CDOM algorithm (R2 = 0.87, N = 9) for the VIIRS ocean color sensor, and the assessment of CDOM - DOC relationships (R2 = 0.88, N = 13 in March; R2 = 0.83, N = 24 in November) for the Apalachicola Bay. Satellite-derived CDOM and DOC maps together with model-based salinity distributions revealed their spatial extent, sources and transport to the shelf water. Furthermore, strong seasonal influence on DOM distribution in the bay was associated with inputs from Apalachicola and Carrabelle Rivers and the surrounding marshes. Estimates of DOC standing stocks in the bay obtained using ocean color data and high-resolution bathymetry showed relatively higher stocks in November ( 3.71 × 106 kg C, 560 km2) than in March ( 4.07 × 106 kg C, 560 km2) despite lower river discharge in dry season. Results of DOC flux estimates from the bay to coastal waters will also be presented.
Zhang, Yang; Ni, Jiupai; Yang, John; Zhang, Tong; Xie, Deti
Soil carbon fractionation is a valuable indicator in assessing stabilization of soil organic matter and soil quality. However, limited studies have addressed how different vegetation stand ages under intercropping agroforestry systems, could affect organic carbon (OC) accumulation in bulk soil and its physical fractions. A field study thus investigated the impact of citrus plantation age (15-, 25-, and 45-year citrus) on the bulk soil organic carbon (SOC) and SOC fractions and yields of Stropharia rugoso-annulata (SRA) in the Three Gorges Reservoir area, Chongqing, China. Results indicated that the intercropping practice of SRA with citrus significantly increased the SOC by 57.4-61.6% in topsoil (0-10 cm) and by 24.8-39.9% in subsoil (10-30 cm). With a significantly higher enhancement under the 25-year citrus stand than the other two stands, all these citrus stands of three ages also resulted in a significant increase of free particulate OC (fPOC, 60.1-62.4% in topsoil and 34.8-46.7% in subsoil), intra-micro aggregate particulate OC (iPOC, 167.6-206.0% in topsoil and 2.77-61.09% in subsoil), and mineral-associated OC (MOC, 43.6-46.5% in topsoil and 26.0-51.5% in subsoil). However, there were no significant differences in yields of SRA under three citrus stands. Our results demonstrated that citrus stand ages did play an important role in soil carbon sequestration and fractionation under a citrus/SRA intercropping system, which could therefore provide a sustainable agroforestry system to enhance concurrently the SOC accumulation while mitigating farmland CO 2 emission.
Full Text Available It has been found that the area where one can look for significant reserves in the procurement logistics is a rational management of the stock of raw materials. Currently, the main purpose of projects which increase the efficiency of inventory management is to rationalise all the activities in this area, taking into account and minimising at the same time the total inventory costs. The paper presents a method for optimising the inventory level of raw materials under a foundry plant conditions using two different control models. The first model is based on the estimate of an optimal level of the minimum emergency stock of raw materials, giving information about the need for an order to be placed immediately and about the optimal size of consignments ordered after the minimum emergency level has occurred. The second model is based on the estimate of a maximum inventory level of raw materials and an optimal order cycle. Optimisation of the presented models has been based on the previously done selection and use of rational methods for forecasting the time series of the delivery of a chosen auxiliary material (ceramic filters to a casting plant, including forecasting a mean size of the delivered batch of products and its standard deviation.
Ingels, Jeroen; Vanreusel, Ann; Romano, Chiara; Coenjaerts, Johan; Mar Flexas, M.; Zúñiga, Diana; Martin, Daniel
Despite recent advances in the knowledge of submarine canyons ecosystems, our understanding of the faunal patterns and processes in these environments is still marginal. In this study, meiobenthic nematode communities (from 300 m to 1600 m depth) obtained in November 2003 and May 2004 at eight stations inside and outside Blanes submarine canyon were analysed for nematode standing stocks (SSs), feeding types and gender-life stage distributions. Environmental data were obtained by sediment traps and current meters, attached to moorings (April 2003-May 2004), and sediments samples analysed for biogeochemistry and grain size (May 2004). In November 2003, nematode SSs decreased with increasing depth (367.2 individuals and 7.31 μg C per 10 cm2 at 388 m water depth to 7.7 individuals and 0.18 μg C per 10 cm2 at 1677 m water depth), showing a significant negative relation (abundance: R2 = 0.620, p = 0.020; biomass: R2 = 0.512, p = 0.046). This was not the case in May 2004 (283.5 individuals and 3.53 μg C per 10 cm2 at 388 m water depth to 490.8 individuals and 4.93 μg C per 10 cm2 at 1677 m water depth; abundance: R2 = 0.003, p = 0.902; biomass: R2 = 0.052, p = 0.587), suggesting a temporal effect that overrides the traditional decrease of SSs with increasing water depth. Both water depth and sampling time played a significant role in explaining nematode SSs, but with differences between stations. No overall differences were observed between canyon and open slope stations. Nematode standing stock (SS) patterns can be explained by taking into account the interplay of phytodetrital input and disturbance events, with station differences such as topography playing an important role. Individual nematode size decreased from November 2003 to May 2004 and was explained by a food-induced genera shift and/or a food-induced transition from a ‘latent’ to a ‘reproductive’ nematode community. Our results suggest that size patterns in nematode communities are not solely
David K. Lewis
This paper sets out to demonstrate the importance of considering the wealth represented by the growing stock in economic analyses of stand management alternatives, and to demonstrate the role of thinning in the manipulation of the efficiency of growing stock in the management of shortleaf pine (Pinus echinata Mill.). These goals are achieved through a demonstration of...
Martin E. Dale; Donald E. Hilt
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,...
A. J. R. Gillespie; S. Brown; A. E. Lugo
Total aboveground forest biomass may be estimated through a variety of techniques based on commercial inventory stand and stock tables. Stand and stock tables from tropical countries commonly omit trees bellow a certain commercial limit.
Seid Muhie Dawud
Full Text Available Mixed forest of Douglas-fir and beech has been suggested as one of the possible future forest types in Northwest Europe but the effects of this mixed forest on soil properties relative to monoculture stands are unknown. In a transboundary investigation of adjacent common garden Douglas-fir and beech stands, we determined the effects on topsoil properties. However, responses of C and N stocks, the C/N ratio and pH were site- and soil layer-specific and were mainly single-sided and without synergistic effects. Beech reduced the soil C and N stocks in Douglas-fir at the nutrient-poor site, caused an increase in the C/N ratio in the forest floor and mineral soil at both nutrient-poor and -rich sites, and reduced the acidifying effect of Douglas-fir at the nutrient-poor site. These results do not support the hypothesis that mixture effects would be consistent across sites and soil layers. The lack of synergistic effects may be attributed to the relatively similar litter quality or rooting depth that prevented any larger niche differentiation and complementarity. The results indicate that the transboundary approach within a mature common garden proved useful as a platform to test tree species interactions, and this approach could be explored in soil studies until dedicated mixed-species common gardens reach maturity.
Miranda, Leandro E.; Bettoli, Phillip William
Large impoundments, defined as those with surface area of 200 ha or greater, are relatively new aquatic ecosystems in the global landscape. They represent important economic and environmental resources that provide benefits such as flood control, hydropower generation, navigation, water supply, commercial and recreational fisheries, and various other recreational and esthetic values. Construction of large impoundments was initially driven by economic needs, and ecological consequences received little consideration. However, in recent decades environmental issues have come to the forefront. In the closing decades of the 20th century societal values began to shift, especially in the developed world. Society is no longer willing to accept environmental damage as an inevitable consequence of human development, and it is now recognized that continued environmental degradation is unsustainable. Consequently, construction of large reservoirs has virtually stopped in North America. Nevertheless, in other parts of the world construction of large reservoirs continues. The emergence of systematic reservoir management in the early 20th century was guided by concepts developed for natural lakes (Miranda 1996). However, we now recognize that reservoirs are different and that reservoirs are not independent aquatic systems inasmuch as they are connected to upstream rivers and streams, the downstream river, other reservoirs in the basin, and the watershed. Reservoir systems exhibit longitudinal patterns both within and among reservoirs. Reservoirs are typically arranged sequentially as elements of an interacting network, filter water collected throughout their watersheds, and form a mosaic of predictable patterns. Traditional approaches to fisheries management such as stocking, regulating harvest, and in-lake habitat management do not always produce desired effects in reservoirs. As a result, managers may expend resources with little benefit to either fish or fishing. Some locally
Boukal S., David; Jankovský, Martin; Kubečka, Jan; Heino, M.
119-120, 20 MAY (2012), s. 23-32 ISSN 0165-7836 R&D Projects: GA MŠk 7F10070 Grant - others:Financial Mechanism of EEA and Norwegian Financial Mechanism(NO) A/CZ0046/2/0029 Institutional support: RVO:60077344 Keywords : management * time series * stock ing Subject RIV: EH - Ecology, Behaviour Impact factor: 1.695, year: 2012 http://www.sciencedirect.com/science/article/pii/S0165783611003687
Henzell, S.T.; Hicks, G.J.; Horden, M.J.; Irrgang, H.R.; Janssen, E.J.; Kable, C.W.; Mitchell, R.A.H.; Morrell, N.W.; Palmer, I.D.; Seage, N.W.
The Fortescue field in the Gippsland Basin, offshore southeastern Australia is being developed from two platforms (Fortescue A and Cobia A) by Esso Australia Ltd. (operator) and BHP Petroleum. The Fortescue reservoir is a stratigraphic trap at the top of the Latrobe Group of sediments. It overlies the western flank of the Halibut and Cobia fields and is separated from them by a non-net sequence of shales and coals which form a hydraulic barrier between the two systems. Development drilling into the Fortescue reservoir commenced in April 1983 with production coming onstream in May 1983. Fortescue, with booked reserves of 44 stock tank gigalitres (280 million stock tank barrels) of 43/sup 0/ API oil, is the seventh major oil reservoir to be developed in the offshore Gippsland Basin by Esso/BHP. In mid-1984, after drilling a total of 20 exploration and development wells, and after approximately one year of production, a detailed three-dimensional, two-phase reservoir simulation study was performed to examine the recovery efficiency, drainage patterns, pressure performance and production rate potential of the reservoir. The model was validated by history matching an extensive suite of Repeat Formation Test (RFT) pressure data. The results confirmed the reserves basis, and demonstrated that the ultimate oil recovery from the reservoir is not sensitive to production rate. This result is consistent with studies on other high quality Latrobe Group reservoirs in the Gippsland Basin which contain undersaturated crudes and receive very strong water drive from the Basin-wide aquifer system. With the development of the simulation model during the development phase, it has been possible to more accurately define the optimal well pattern for the remainder of the development.
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 ...
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....
Benjamin A. Roach
A stocking guide for stands of Allegheny hardwoods (sugar maple or sugar maple-beech with varying admixtures of black cherry, red maple, white ash, sweet birch, and other species) on the Allegheny Plateau in northwestern Pennsylvania. Included are procedures for evaluating stocking and stand conditions, thinning even-aged stands, determining minimum residual stocking,...
The effects on zooplankton of residence in a cooling reservoir receiving hyperthermal effluents directly from a nuclear-production-reactor were examined. The design of the study was to compare rates of cladoceran population production at two stations in the winter and summer of 1976 on Par Pond, the cooling reservoir located on the Savannah River Plant, Aiken, SC. One station was located in an area of the reservoir directly receiving hyperthermal effluent (Station MAS), and the second was located about 4 km away in an area where surface temperatures were normal for reservoirs in the general geographical region (Station CAS). The statistical properties of the Edmondson egg ratio model (Edmondson, 1960) were examined to determine if it would be a suitable method for calculating cladoceran production rates for comparison between stations. Based on an examination of the variance associated with standing stock and fecundity measurements and other consideratios, the use of the egg ratio model was abandoned. Instead, a non-parametric comparison between stations of standing stock and fecundity data for Bosmina longirostris, taken for the egg ratio model, were used to observe potential hyperthermal effluent effects. There was a statistically higher incidence of deformed eggs in the Bosmina population at Station MAS in the summer. Bosmina standing stock underwent two large oscillations in the winter and three large oscillations in the summer at Station MAS compared with two in the winter and one in the summer at Station CAS. These results are consistent with almost all other Par Pond studies which have found the two stations to be essentially similar in species composition but with some statistically significant differences in various aspects of the biology of the species
Federal Laboratory Consortium — The Electrical Systems Laboratory (ESL)houses numerous electrically driven drive stands. A drive stand consists of an electric motor driving a gearbox and a mounting...
Satter, A.; Varnon, J.E.; Hoang, M.T.
A reservoir's life begins with exploration leading to discovery followed by delineation of the reservoir, development of the field, production by primary, secondary and tertiary means, and finally to abandonment. Sound reservoir management is the key to maximizing economic operation of the reservoir throughout its entire life. Technological advances and rapidly increasing computer power are providing tools to better manage reservoirs and are increasing the gap between good and neural reservoir management. The modern reservoir management process involves goal setting, planning, implementing, monitoring, evaluating, and revising plans. Setting a reservoir management strategy requires knowledge of the reservoir, availability of technology, and knowledge of the business, political, and environmental climate. Formulating a comprehensive management plan involves depletion and development strategies, data acquisition and analyses, geological and numerical model studies, production and reserves forecasts, facilities requirements, economic optimization, and management approval. This paper provides management, engineers, geologists, geophysicists, and field operations staff with a better understanding of the practical approach to reservoir management using a multidisciplinary, integrated team approach
Satter, A.; Varnon, J.E.; Hoang, M.T.
A reservoir's life begins with exploration leading to discovery followed by delineation of the reservoir, development of the field, production by primary, secondary and tertiary means, and finally to abandonment. Sound reservoir management is the key to maximizing economic operation of the reservoir throughout its entire life. Technological advances and rapidly increasing computer power are providing tools to better manage reservoirs and are increasing the gap between good and neutral reservoir management. The modern reservoir management process involves goal setting, planning, implementing, monitoring, evaluating, and revising plans. Setting a reservoir management strategy requires knowledge of the reservoir, availability of technology, and knowledge of the business, political, and environmental climate. Formulating a comprehensive management plan involves depletion and development strategies, data acquisition and analyses, geological and numerical model studies, production and reserves forecasts, facilities requirements, economic optimization, and management approval. This paper provides management, engineers geologists, geophysicists, and field operations staff with a better understanding of the practical approach to reservoir management using a multidisciplinary, integrated team approach
The effects on zooplankton of residence in a cooling reservoir receiving hyperthermal effluents directly from a nuclear-production-reactor were studied. Rates of cladoceran population production were compared at two stations in the winter and summer of 1976 on Par Pond located on the Savannah River Plant, Aiken, SC. One station was located in an area of the reservoir directly receiving hyperthermal effluent (Station MAS) and the second was located about 4 km away in an area where surface temperatures were normal for reservoirs in the general geographical region (Station CAS). A non-parametric comparison between stations of standing stock and fecundity data for Bosmina longirostris, taken for the egg ratio model, was used to observe potential hyperthermal effluent effects. There was a statistically higher incidence of deformed eggs in the Bosmina population at Station MAS in the summer. Bosmina standing stock underwent two large oscillations in the winter and three large oscillations in the summer at Station MAS compared with two in the winter and one in the summer at Station CAS. These results are consistent with almost all other Par Pond studies which have found the two stations to be essentially similar in spectra composition but with some statistically significant differences in various aspects of the biology of the species
Suelen Cristina Alves da Silva
Full Text Available AIM: Investigate spatial and temporal variation in the aquatic macrophyte community in four urban reservoirs located in Curitiba metropolitan region, Brazil. We tested the hypothesis that aquatic macrophyte community differ among reservoirs with different degrees of eutrophication. METHODS: The reservoirs selected ranged from oligotrophic/mesotrophic to eutrophic. Sampling occurred in October 2011, January 2012 and June 2012. Twelve aquatic macrophytes stands were sampled at each reservoir. Species were identified and the relative abundance of aquatic macrophytes was estimated. Differences among reservoirs and over sampling periods were analyzed: i through two‑way ANOVAs considering the stand extent (m and the stand biodiversity - species richness, evenness, Shannon-Wiener index and beta diversity (species variation along the aquatic macrophyte stand; and ii through PERMANOVA considering species composition. Indicator species that were characteristic for each reservoir were also identified. RESULTS: The aquatic macrophyte stand extent varied among reservoirs and over sampling periods. Species richness showed only temporal variation. On the other hand, evenness and Shannon-Wiener index varied only among reservoirs. The beta diversity of macrophyte stands did not vary among reservoirs or over time, meaning that species variability among aquatic macrophyte stands was independent of the stand extent and reservoir eutrophication. Community composition depended on the reservoir and sampling period. CONCLUSIONS: Our results support our initial expectation that reservoirs of different degrees of eutrophication have different aquatic macrophyte communities. As a consequence, each reservoir had particular indicator species. Therefore, monitoring and management efforts must be offered for each reservoir individually.
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
Meng, Xiangyi; Zhang, Jian-Wei; Guo, Hong
It is believed by the majority today that the efficient market hypothesis is imperfect because of market irrationality. Using the physical concepts and mathematical structures of quantum mechanics, we construct an econophysical framework for the stock market, based on which we analogously map massive numbers of single stocks into a reservoir consisting of many quantum harmonic oscillators and their stock index into a typical quantum open system-a quantum Brownian particle. In particular, the irrationality of stock transactions is quantitatively considered as the Planck constant within Heisenberg's uncertainty relationship of quantum mechanics in an analogous manner. We analyze real stock data of Shanghai Stock Exchange of China and investigate fat-tail phenomena and non-Markovian behaviors of the stock index with the assistance of the quantum Brownian motion model, thereby interpreting and studying the limitations of the classical Brownian motion model for the efficient market hypothesis from a new perspective of quantum open system dynamics.
P. J. Gould; K. C. Steiner; J. C. Finley; M. E. McDill
The outcomes of regeneration treatments in 90 oak-dominated stands in Pennsylvania are examined 20 to 33 years after treatment. Approximately one-quarter of the stands failed to reach 50 percent stocking after at least 20 years, but most stands regenerated successfully. Red maple is the most frequently observed species in the regenerated stands, followed by oak species...
Daniel W. Uresk; Carleton B. Edminster; Kieth E. Severson
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...
John B. Bradford; Shawn Fraver; Amy M. Milo; Anthony W. D' Amato; Brian J. Palik
Climate change is anticipated to increase the frequency of disturbances, potentially impacting carbon stocks in terrestrial ecosystems. However, little is known about the implications of either multiple disturbances or post-disturbance forest management activities on ecosystem carbon stocks. This study quantified how forest carbon stocks responded to stand-replacing...
Reservoir operation and management is usually patterned after the background of long standing water resources management experience. Reservoir management for optimum power production at any hydropower station requires constant assessment of the quantity of available water. The hydrographic responses of flow ...
James B. Baker; Michael G. Shelton
A 1988 USDA Forest Service report indicated that 22% (40 million ac) of the commercial timberland in the South was understocked (less than 60% stocking) with desirable tree species for timber production (USDA Forest Service 1988). The understocked stands are usually the result of past har-vesting practices, natural catastrophes, or regeneration fail-ures. Understocked...
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…
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.
Full Text Available Phytoplankton and bacterial pigment compositions were determined by high performance liquid chromatography (HPLC and liquid chromatography-mass spectrometry (LC-MS in two freshwater reservoirs (Tillari Dam and Selaulim Dam, which are located at the foothills of the Western Ghats in India. These reservoirs experience anoxia in the hypolimnion during summer. Water samples were collected from both reservoirs during anoxic periods while one of them (Tillari Reservoir was also sampled in winter, when convective mixing results in well-oxygenated conditions throughout the water column. During the period of anoxia (summer, bacteriochlorophyll (BChl e isomers and isorenieratene, characteristic of brown sulfur bacteria, were dominant in the anoxic (sulfidic layer of the Tillari Reservoir under low light intensities. The winter observations showed the dominance of small cells of Chlorophyll b-containing green algae and cyanobacteria, with minor presence of fucoxanthin-containing diatoms and peridinin-containing dinoflagellates. Using total BChl e concentration observed in June, the standing stock of brown sulfur bacteria carbon in the anoxic compartment of Tillari Reservoir was estimated to be 2.27 gC m−2, which is much higher than the similar estimate for carbon derived from oxygenic photosynthesis (0.82 gC m−2. The Selaulim Reservoir also displayed similar characteristics with the presence of BChl e isomers and isorenieratene in the anoxic hypolimnion during summer. Although sulfidic conditions prevailed in the water column below the thermocline, the occurrence of photo-autotrophic bacteria was restricted only to mid-depths (maximal concentration of BChl e isomers was detected at 0.2% of the surface incident light. This shows that the vertical distribution of photo-autotrophic sulfur bacteria is primarily controlled by light penetration in the water column where the presence of H2
C.W. Woodall; J.A. Westfall
There has been little examination of the relationship between the stocking of live trees in forests and the associated attributes of dead tree resources which could inform large-scale efforts to estimate and manage deadwood resources. The goal of this study was to examine the relationships between the stocking of standing live trees and attributes of standing dead and...
Betton, Sandra; Eckbo, B. Espen; Thompson, Rex; Thorburn, Karin S.
Merger negotiations routinely occur amidst economically significant a target stock price runups. Since the source of the runup is unobservable (is it a target stand-alone value change and/or deal anticipation?), feeding the runup back into the offer price risks "paying twice" for the target shares. We present a novel structural empirical analysis of this runup feedback hypothesis. We show that rational deal anticipation implies a nonlinear relationship between the runup and the offer price ma...
David Michayluk; Paul Kofman
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...
Full Text Available The purpose of this article is to study the dynamics of the volatility of some indicators of financial market of Ukraine using the methods ARCH modeling. As indicators of the financial market we take the most aggregated variables describing profitability or market price of the portfolio, but not individual assets constituting the portfolio. An indicator of the stock market index stands First Stock Trading System (PFTS. The conditional variance of financial indicators reflecting the level of systemic risk, measures the uncertainty associated with forecasting market dynamics. Key words. Autoregression models, econometric models, stock market, financial instruments, the PFTS index, volatility time series. JEL: C 50
Fan, Y. F.; Fan, Y. B.; Li, Z. Y.; Newman, T.; Lv, C. S.; Fan, Y. Z.
Center of pressure is commonly used to evaluate standing balance. Even though it is incomplete, no better evaluation method has been presented. We designed our experiment with three standing postures: standing with feet together, standing with feet shoulder width apart, and standing with feet slightly wider than shoulder width. Our platform-based pressure system collected the instantaneous plantar pressure (standing footprint). A physical quantity of instantaneous standing footprint principal axis was defined, and it was used to construct an index to evaluate standing balance. Comparison between results from our newly established index and those from the center of pressure index to evaluate the stability of different standing postures revealed that the standing footprint principal axis index could better respond to the standing posture change than the existing one. Analysis indicated that the insensitive response to the relative position between feet and to the standing posture change from the center of pressure could be better detected by the standing footprint principal axis index. This predicts a wide application of standing footprint principal axis index when evaluating standing balance.
Keywords: reservoir model, siltation, sediment, catchment, sediment transport. 1. Introduction. Sediment ... rendered water storage structures useless in less than 25 years. ... reservoir, thus reducing the space available for water storage and ...
Silva, S.S. De.
At a workshop on reservoir fisheries research, papers were presented on the limnology of reservoirs, the changes that follow impoundment, fisheries management and modelling, and fish culture techniques. Separate abstracts have been prepared for three papers from this workshop
Artisanal fisheries are important livelihoods for coastal communities in many developing countries, where uncontrolled fishing can easily lead to depleted stocks in nearshore waters. Man-made reservoirs associated with solar salt works along the coast of Ungwana Bay provide alternative fishing grounds for local fishers ...
Rosa, L.P.; Schaeffer, R.
In a recent paper, Rudd et al. have suggested that, per unit of electrical energy produced, greenhouse-gas emissions from some hydroelectric reservoirs in northern Canada may be comparable to emissions from fossil-fuelled power plants. The purpose of this comment is to elaborate these issues further so as to understand the potential contribution of hydroelectric reservoirs to the greenhouse effect. More than focusing on the total budget of carbon emissions (be they in the form of CH 4 or be they in the form of CO 2 ), this requires an evaluation of the accumulated greenhouse effect of gas emissions from hydroelectric reservoirs and fossil-fuelled power plants. Two issues will be considered: (a) global warming potential (GWP) for CH 4 ; and (b) how greenhouse-gas emissions from hydroelectric power plants stand against emissions from fossil-fuelled power plants with respect to global warming
James M. Guldin
The selection method applied in shade-intolerant pine stands in the southern United States has been shown to be an effective method of uneven-aged silviculture, but it is becoming less frequently practiced for a variety of reasons. Economically, the high value of standing timber puts fully stocked uneven-aged pine stands at risk of liquidation if the timberland is sold...
James B. Baker; Michael G. Shelton
Development of 86 intermediate and suppressed loblolly pine (Pinus taeda L.) trees, that had been recently released from overtopping pines and hardwoods, was monitored over a 15 year period. The trees were growing in natural stands on good sites (site index = 90 ft at 50 years) that had been recently cut to stocking levels ranging from 10 to 50 percent. At time of...
Yuan, Hao; Shapiro, Alexander; Stenby, Erling Halfdan
Modeling transport of reservoir fines is of great importance for evaluating the damage of production wells and infectivity decline. The conventional methodology accounts for neither the formation heterogeneity around the wells nor the reservoir fines’ heterogeneity. We have developed an integral...... dispersion equation in modeling the transport and the deposition of reservoir fines. It successfully predicts the unsymmetrical concentration profiles and the hyperexponential deposition in experiments....
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....
Colin D. MacLean
Relative density is a measure of tree crowding compared to a reference level such as normal density. This stand attribute, when compared to management standards, indicates adequacy of stocking. The Pacific Coast Forest Survey Unit assesses the relative density of each stand sampled by summing the individual density contributions of each tree tallied, thus quantifying...
Zhang Changmin; Lin Kexiang; Liu Huaibo [Jianghan Petroleum Institute, Hubei (China)] [and others
This is China`s first case study of high resolution reservoir geological modelling using outcrop information. The key of the modelling process is to build a prototype model and using the model as a geological knowledge bank. Outcrop information used in geological modelling including seven aspects: (1) Determining the reservoir framework pattern by sedimentary depositional system and facies analysis; (2) Horizontal correlation based on the lower and higher stand duration of the paleo-lake level; (3) Determining the model`s direction based on the paleocurrent statistics; (4) Estimating the sandbody communication by photomosaic and profiles; (6) Estimating reservoir properties distribution within sandbody by lithofacies analysis; and (7) Building the reservoir model in sandbody scale by architectural element analysis and 3-D sampling. A high resolution reservoir geological model of Youshashan oil field has been built by using this method.
..., 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...
Martin Ritchie; Jianwei Zhang; Todd Hamilton
Site index, estimated as a function of dominant-tree height and age, is often used as an expression of site quality. This expression is assumed to be effectively independent of stand density. Observation of dominant height at two different ponderosa pine levels-of-growing-stock studies revealed that top height stability with respect to stand density depends on the...
Angela M. Yuska; Kim C. Steiner; James C. Finley
Studies of the effects of high deer densities on forest regeneration have shown altered species composition and reduced diversity in stands regenerating after harvest. The effects of browsing in fully stocked, undisturbed stands are less well known but important, as establishment of seedlings of oaks and other species prior to disturbance is very important for self-...
Dennis E. Teeguarden
Compares the expected capital value growth of five ponderosa pine stands (70 to 80 years old) on the Challenge Experimental Forest, Yuba County, Calif., with the cost of delaying harvest (defined as sum of stock-holding and land-holding costs). Suggests that replacement of all five stands would be financially desirable under constant stumpage prices. Recommends...
.... 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...
Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi
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.
Marková, I.; Marek, M.V.; Pokorný, R.
The present paper is focused on the assessment of the effects of stand density and leaf area development on radiation use efficiency in the mountain cultivated Norway spruce stand. The young even-aged (17-years-old in 1998) plantation of Norway spruce was divided into two experimental plots differing in their stand density in 1995. During the late spring of 2001 next cultivating high-type of thinning of 15% intensity in a reduction of stocking density was performed. The PAR regime of investigated stands was continually measured since 1992. Total aboveground biomass (TBa) and TBa increment were obtained on the basis of stand inventory. The dynamic of LAI development showed a tendency to be saturated, i.e. the LAI value close to 11 seems to be maximal for the local conditions of the investigated mountain cultivated Norway spruce stand in the Beskids Mts. Remarkable stimuli (up to 17%) of LAI formation were started in 2002, i.e. as an immediate response to thinning. Thus, the positive effect of thinning on LAI increase was confirmed. The data set of absorbed PAR and produced TBa in the period 1998-2003 was processed by the linear regression of Monteith's model, which provided the values of the coefficient of solar energy conversion efficiency into biomass formation. The differences in biomass formation values between the dense and sparse plot after thinning amounted to 18%
Howard, J.H.; Schwarz, W.J.
The Reservoir Engineering Management Program being conducted at Lawrence Berkeley Laboratory includes two major tasks: 1) the continuation of support to geothermal reservoir engineering related work, started under the NSF-RANN program and transferred to ERDA at the time of its formation; 2) the development and subsequent implementation of a broad plan for support of research in topics related to the exploitation of geothermal reservoirs. This plan is now known as the GREMP plan. Both the NSF-RANN legacies and GREMP are in direct support of the DOE/DGE mission in general and the goals of the Resource and Technology/Resource Exploitation and Assessment Branch in particular. These goals are to determine the magnitude and distribution of geothermal resources and reduce risk in their exploitation through improved understanding of generically different reservoir types. These goals are to be accomplished by: 1) the creation of a large data base about geothermal reservoirs, 2) improved tools and methods for gathering data on geothermal reservoirs, and 3) modeling of reservoirs and utilization options. The NSF legacies are more research and training oriented, and the GREMP is geared primarily to the practical development of the geothermal reservoirs. 2 tabs., 3 figs.
Michael R. Guttery; Andrew W. Ezell
Greentree reservoirs are a viable option for creating habitat and hunting opportunities for migrating waterfowl. Unfortunately, the prolonged annual flooding often associated with greentree reservoir management can be highly detrimental to many of the desirable tree species in these stands. In the summer of 2004, a total of 327 plot centers were established in a...
Syed Jawad Hussain Shahzad
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.
A planter test stand was developed to evaluate individual row-crop metering units in early 2013. This test stand provided the ability to quantify actual seed metering in terms of population, seed spacing, skips, and multiples over a range of meter RPMs and vacuum pressures. Preliminary data has been...
Pfeifer, Marion; Lefebvre, Veronique; Turner, Edgar; Cusack, Jeremy; Khoo, MinSheng; Chey, Vun K.; Peni, Maria; Ewers, Robert M.
Despite a large increase in the area of selectively logged tropical forest worldwide, the carbon stored in deadwood across a tropical forest degradation gradient at the landscape scale remains poorly documented. Many carbon stock studies have either focused exclusively on live standing biomass or have been carried out in primary forests that are unaffected by logging, despite the fact that coarse woody debris (deadwood with ≥10 cm diameter) can contain significant portions of a forest’s carbon stock. We used a field-based assessment to quantify how the relative contribution of deadwood to total above-ground carbon stock changes across a disturbance gradient, from unlogged old-growth forest to severely degraded twice-logged forest, to oil palm plantation. We measured in 193 vegetation plots (25 × 25 m), equating to a survey area of >12 ha of tropical humid forest located within the Stability of Altered Forest Ecosystems Project area, in Sabah, Malaysia. Our results indicate that significant amounts of carbon are stored in deadwood across forest stands. Live tree carbon storage decreased exponentially with increasing forest degradation 7-10 years after logging while deadwood accounted for >50% of above-ground carbon stocks in salvage-logged forest stands, more than twice the proportion commonly assumed in the literature. This carbon will be released as decomposition proceeds. Given the high rates of deforestation and degradation presently occurring in Southeast Asia, our findings have important implications for the calculation of current carbon stocks and sources as a result of human-modification of tropical forests. Assuming similar patterns are prevalent throughout the tropics, our data may indicate a significant global challenge to calculating global carbon fluxes, as selectively-logged forests now represent more than one third of all standing tropical humid forests worldwide.
Kinkead, Carter O.; Kabrick, John M.; Stambaugh, Michael C.; Grabner, Keith W.
Our objective was to quantify the cumulative eﬀects of prescribed burning and thinning on forest stocking and species composition at a woodland restoration experiment site in the Ozark Highlands of Missouri. Our study used four treatments (burn, harvest, harvest and burn, control) on three slope position and aspect combinations (south, north, ridge) replicated in three complete blocks. Harvested stands were thinned from below to 40 percent residual stocking. Two prescribed ﬁres were applied to both burn and harvest-burn treatment units in a 5-year period. Results reﬂect changes that have taken place over a 6-year period, from pretreatment conditions to 1 year after the last ﬁre. In this period, there was a 10-percent reduction in the stocking in burned stands compared to control and a 6-percent reduction in harvested and burned stands compared to harvested stands. Compared to the control, percentage ground cover of woodland indicators was seven times greater in burned stands, six times greater in harvested stands, and 22 percent greater in harvested and burned stands. Th ere was no signiﬁcant (P > 0.05) interaction between aspect and treatment on stocking or ground ﬂora cover. Th is study indicated that silvicultural treatments do achieve various goals that are common to managers who aim to restore woodland communities.
All natural lakes and reservoirs whether on rivers, tributaries or off channel storages are doomed to be sited up. Pakistan has two major reservoirs of Tarbela and Managla and shallow lake created by Chashma Barrage. Tarbela and Mangla Lakes are losing their capacities ever since first impounding, Tarbela since 1974 and Mangla since 1967. Tarbela Reservoir receives average annual flow of about 62 MAF and sediment deposits of 0.11 MAF whereas Mangla gets about 23 MAF of average annual flows and is losing its storage at the rate of average 34,000 MAF annually. The loss of storage is a great concern and studies for Tarbela were carried out by TAMS and Wallingford to sustain its capacity whereas no study has been done for Mangla as yet except as part of study for Raised Mangla, which is only desk work. Delta of Tarbala reservoir has advanced to about 6.59 miles (Pivot Point) from power intakes. In case of liquefaction of delta by tremor as low as 0.12g peak ground acceleration the power tunnels I, 2 and 3 will be blocked. Minimum Pool of reservoir is being raised so as to check the advance of delta. Mangla delta will follow the trend of Tarbela. Tarbela has vast amount of data as reservoir is surveyed every year, whereas Mangla Reservoir survey was done at five-year interval, which has now been proposed .to be reduced to three-year interval. In addition suspended sediment sampling of inflow streams is being done by Surface Water Hydrology Project of WAPDA as also some bed load sampling. The problem of Chasma Reservoir has also been highlighted, as it is being indiscriminately being filled up and drawdown several times a year without regard to its reaction to this treatment. The Sediment Management of these reservoirs is essential and the paper discusses pros and cons of various alternatives. (author)
Ngo, Long le
Anvendelse af optimeringsteknik til drift af reservoirer er blevet et væsentligt element i vandressource-planlægning og -forvaltning. Traditionelt har reservoirer været styret af heuristiske procedurer for udtag af vand, suppleret i en vis udstrækning af subjektive beslutninger. Udnyttelse af...... reservoirer involverer en lang række interessenter med meget forskellige formål (f.eks. kunstig vanding, vandkraft, vandforsyning mv.), og optimeringsteknik kan langt bedre lede frem til afbalancerede løsninger af de ofte modstridende interesser. Afhandlingen foreslår en række tiltag, hvormed traditionelle...
The Columbia River and Snake River dams and reservoirs provide substantial benefits in the Northwest through their operation for hydropower, flood control, irrigation, navigation, and fish and wildlife. The listing of certain Snake River salmon stocks as endangered and threatened, under provisions of the Endangered Species Act, has surfaced major public policy issues. Protection and enhancement of these salmon stocks has resulted in proposals to significantly modify the operation of the reservoir projects. Implementation of these proposals could have significant economic, environmental and social impacts in the region
The State Material Reserves Administration Office (SMRAO) plans to transfer the administration of about 50% of Slovakian's emergency oil and fuel stocks to investors. Private companies would help to build storage reservoirs and tanks that would allow the storage of strategic stocks to cover consumption in Slovakia for 90 days. The public procurement process is set to start at the end of this year. It should determine who will be awarded contracts for the next 20 years. Up to now, emergency stocks have been stored at Slovnaft, Transpetrol and SMRAO. The storage capacities of SMRAO no longer meet ecological standards. It is estimated that about 660 mil. Sk (16.58 mil. Eur) will be required for the storage capacities to meet the standards. The most expensive item will be the construction of new reservoirs. SMRAO expects this will cost at least 3 bill. Sk (75.35 mil. Eur). SMRAO chairman, Jan Tusim expects that private investors will welcome this opportunity. SMRAO plans to store 5 0% of stocks in private reservoirs and the remaining part in SMRAO reservoirs. Private investors will be obliged to fill the storage reservoirs and pay rent for their usage. The lowest running costs submitted by companies in the tender will determine the tender winner. (author)
This final report summarizes the progress during the three years of a project on Reservoir Characterization of Pennsylvanian Sandstone Reservoirs. The report is divided into three sections: (i) reservoir description; (ii) scale-up procedures; (iii) outcrop investigation. The first section describes the methods by which a reservoir can be described in three dimensions. The next step in reservoir description is to scale up reservoir properties for flow simulation. The second section addresses the issue of scale-up of reservoir properties once the spatial descriptions of properties are created. The last section describes the investigation of an outcrop.
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...
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)
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...
Niquil, Y.; Guillot, J.
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
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…
Lucas, A.; van Dijk, R.; Prof. Kloek, T.
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
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.
Federal Laboratory Consortium — The Variable Attitude Test Stand designed and built for testing of the V-22 tilt rotor aircraft propulsion system, is used to evaluate the effect of aircraft flight...
Lumsden, Keith G.
Noting the acceleration of scientific evaluation, the author focuses his attention on where we now stand in the evaluation of two methods of instruction: programed learning materials and television. (Editor)
Indridewi Atmadjaja, Yovita Vivianty
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 ...
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.
Christofek, L.; Rapidis, P.; Reinhard, A.; Fermilab
The Stimulus Test Stand was originally constructed and assembled for testing the SVX2 ASIC readout and then upgraded for SVX3 ASIC prototyping and testing. We have modified this system for SVX4 ASIC  prototype testing. We described the individual components below. Additional details for other hardware for SVX4 testing can be found in reference . We provide a description of the Stimulus Test Stand used for prototype testing of the SVX4 chip
M.A. Sword; J. L. Chambers; Z. Tang; T. J. Dean; J. C. Goelz
Two levels each of fertilization and stand density were established to create four environments in a 7-year-old loblolly pine plantation on a N and P deficient western Gulf Coastal Plain site in Louisiana. Levels of fertilization were no fertilization and application of 120 lb N and 134 lb P/ac. Levels of stand density were the original stocking (1,210 trees/ac), and...
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
Wayne K. Clatterbuck
Partial cutting in mature hardwood stands often causes physical damage to residual stems through felling and skidding resulting in a decline in bole quality and subsequent loss of tree value. This study assessed the logging damage to residual trees following commercial harvesting in a fully stocked, mature oak-hickory stand cut to three overstory basal area retention...
Full Text Available This paper presents the results of the research on the influence of capital structure on financial results of the companies quoted on the Warsaw Stock Exchange. The research shows a relation between a capital structure and a potential to increase firm value, return on equity and return on sales. The results of the research indicate how the companies quoted on the Warsaw Stock Exchange finances its assets and how it influences its financial standing.
Grant, Malcolm Alister
As nations alike struggle to diversify and secure their power portfolios, geothermal energy, the essentially limitless heat emanating from the earth itself, is being harnessed at an unprecedented rate. For the last 25 years, engineers around the world tasked with taming this raw power have used Geothermal Reservoir Engineering as both a training manual and a professional reference. This long-awaited second edition of Geothermal Reservoir Engineering is a practical guide to the issues and tasks geothermal engineers encounter in the course of their daily jobs. The bo
Gary W. Miller; Neil I. Lamson; Samuel M. Brock
In north central West Virginia, unmanaged 53-year-old, mixed oak-cove hardwood stands were thinned to 75, 60, and 45 percent residual stocking. Cut trees were skidded tree-length with a rubber-tired skidder. Logging destroyed or severely bent 26, 29, and 34 percent of the unmarked stems in the 75, 60, and 45 percent stocking plots, respectively. Because 94 percent of...
Winters, Lisa K.; Budy, Phaedra; Thiede, Gary P.
Maintaining a balance between predator and prey populations can be an ongoing challenge for fisheries managers, especially in managing artificial ecosystems such as reservoirs. In a high-elevation Utah reservoir, the unintentional introduction of the Utah Chub Gila atraria and its subsequent population expansion prompted managers to experimentally shift from exclusively stocking Rainbow Trout Oncorhynchus mykiss to also stocking tiger trout (female Brown Trout Salmo trutta × male Brook Trout Salvelinus fontinalis) and Bonneville Cutthroat Trout O. clarkii utah (hereafter, Cutthroat Trout) as potential biological control agents. We measured a combination of diet, growth, temperature, and abundance and used bioenergetic simulations to quantify predator demand versus prey supply. Utah Chub were the predominant prey type for tiger trout, contributing up to 80% of the diet depending on the season. Utah Chub represented up to 70% of the total diet consumed by Cutthroat Trout. Although Utah Chub dominated the fish biomass in the reservoir, we still estimated abundances of 238,000 tiger trout, 214,000 Cutthroat Trout, and 55,000 Rainbow Trout. Consequently, when expanded to the population level of each predator, tiger trout and Cutthroat Trout consumed large quantities of Utah Chub on an annual basis: tiger trout consumed 508,000 kg (2,660 g/predator) of the standing prey population, and Cutthroat Trout consumed an estimated 322,000 kg (1,820 g/predator). The estimated combined consumption by Cutthroat Trout and tiger trout exceeded the estimate of Utah Chub annual production. As such, our results suggest that the high rates of piscivory exhibited by Cutthroat Trout and tiger trout in artificial lentic ecosystems are likely sufficient to effectively reduce the overall abundance of forage fishes and to prevent forage fishes from dominating fish assemblages. Collectively, this research provides the first documented findings on tiger trout ecology and performance
The Nagylengyel oil field, discovered in 1951, has oil-producing formations mostly in the Upper-Triassic dolomites, in the Norian-Ractian transition formations, in the Upper-Cretaceous limestones and shales, and in the Miocene. The formation of the reservoir space occurred in many stages. A porous, cavernous fractured reservoir is developed in the Norian principal dolomite. A cavernous fractured reservoir exists in the Cretaceous limestone and in the Cretaceous shale and porous fractured reservoir is developed in the Miocene. The derivation of the model of the reservoir, and the conservative evaluation of the volume of the reservoir made it possible to use secondary recovery.
Hemanth-Kumar, K.; Young, L.C.
The adaptation of a reservoir simulator for parallel computations is described. The simulator was originally designed for vector processors. It performs approximately 99% of its calculations in vector/parallel mode and relative to scalar calculations it achieves speedups of 65 and 81 for black oil and EOS simulations, respectively on the CRAY C-90
Correa G, Tomas F; Osorio, Nelson; Restrepo R, Dora P
This work is an exploration about different unconventional gas reservoirs worldwide: coal bed methane, tight gas, shale gas and gas hydrate? describing aspects such as definition, reserves, production methods, environmental issues and economics. The overview also mentioned preliminary studies about these sources in Colombia.
David A. Marquis; Rodney Jacobs
Forest stands are managed to achieve some combination of desired products or values. These products or values may include income and tangible benefits from timber production or fees for hunting rights and other recreational activities. The values may be intangible, such as the enjoyment of seeing wildlife or flowering plants, or the simple satisfaction of knowing that...
Even, William E.; Macpherson, David
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...
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...
Jack Bergeron; Tom Blasingame; Louis Doublet; Mohan Kelkar; George Freeman; Jeff Callard; David Moore; David Davies; Richard Vessell; Brian Pregger; Bill Dixon; Bryce Bezant
Reservoir performance and characterization are vital parameters during the development phase of a project. Infill drilling of wells on a uniform spacing, without regard to characterization does not optimize development because it fails to account for the complex nature of reservoir heterogeneities present in many low permeability reservoirs, especially carbonate reservoirs. These reservoirs are typically characterized by: (1) large, discontinuous pay intervals; (2) vertical and lateral changes in reservoir properties; (3) low reservoir energy; (4) high residual oil saturation; and (5) low recovery efficiency. The operational problems they encounter in these types of reservoirs include: (1) poor or inadequate completions and stimulations; (2) early water breakthrough; (3) poor reservoir sweep efficiency in contacting oil throughout the reservoir as well as in the nearby well regions; (4) channeling of injected fluids due to preferential fracturing caused by excessive injection rates; and (5) limited data availability and poor data quality. Infill drilling operations only need target areas of the reservoir which will be economically successful. If the most productive areas of a reservoir can be accurately identified by combining the results of geological, petrophysical, reservoir performance, and pressure transient analyses, then this ''integrated'' approach can be used to optimize reservoir performance during secondary and tertiary recovery operations without resorting to ''blanket'' infill drilling methods. New and emerging technologies such as geostatistical modeling, rock typing, and rigorous decline type curve analysis can be used to quantify reservoir quality and the degree of interwell communication. These results can then be used to develop a 3-D simulation model for prediction of infill locations. The application of reservoir surveillance techniques to identify additional reservoir ''pay'' zones
Kokkalis, Alexandros; Eikeset, Anne Maria; Thygesen, Uffe Høgsbro
-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...
Fabricius, Ida Lykke
, and the best reservoir properties are typically found in mudstone intervals. Chalk mudstones vary a lot though. The best mudstones are purely calcitic, well sorted and may have been redeposited by traction currents. Other mudstones are rich in very fine grained silica, which takes up pore space and thus...... basin, so stylolite formation in the chalk is controlled by effective burial stress. The stylolites are zones of calcite dissolution and probably are the source of calcite for porefilling cementation which is typical in water zone chalk and also affect the reservoirs to different extent. The relatively...... have hardly any stylolites and can have porosity above 40% or even 50% and thus also have relatively high permeability. Such intervals have the problem though, that increasing effective stress caused by hydrocarbon production results in mechanical compaction and overall subsidence. Most other chalk...
Danquah, I. H.; Kloster, S.; Holtermann, A.
workers in total) were cluster randomized for intervention or control. The intervention included the appointment of local ambassadors, management support, environmental changes, a lecture and a workshop. Sitting time was measured using an ActiGraph GT3X+ fixed on the thigh. Data were processed using Acti4......Background: Prolonged sitting time has been associated with adverse health outcomes. Interventions at work may contribute to reduced sitting. The objective was to test if a multicomponent work-based intervention can reduce sitting time and the number of prolonged sitting periods (> 30 min......), increase the number of sit-to-stand transitions and decrease waist circumference and body fat percentage among office workers. Primary outcomes were: change in sitting time, prolonged sitting periods and sit-to-stand transitions at followup 1 month later. Methods: At four workplaces, 19 offices (317...
Hansen, E. J.; Simony, A.; Hummel, Stefan
and clinical/radiological results in 22 patients treated with XLIF procedure for DS or degenerative disc disease (DDD). Material and methods: 22 consecutive patients with DS underwent surgery with the XLIF stand-alone procedure, with follow-up of 24 months. Clinical outcome scores were collected. Complications......Introduction: Adult thoracolumbar degeneration is an increasing challenge in the aging population. With age the progressive degeneration of the discs leads to an asymmetric collapse and a thoracolumbar coronal plane deformity, a degenerative scoliosis (DS). Aim: To evaluate the complication rate......-year follow-up, with a 31.8% revision rate. Due to the high revision rate we recommend supplementary posterior instrumentation, to achieve a higher fusion rate. When considering XLIF-stand-alone procedure for DS or DDD without supplemental posterior instrumentation, only single-level disease should...
Zavadtsev, A.A.; Zverev, B.V.; Sobepin, N.P.
Accelerating ELA structures are considered and chosen for applied purposes of special designation. Accelerating structures with the standing wave are considered most effective for small size ELA. Designs and results of experimental investigation of two new accelerating structures are described. These are structures of the ''ring'' type with a decreased number of excitinq oscillation types and strucuture with transverse rods with a twice smaller transverse size as compared with the biperiodical structure with internal connection resonators. The accelerating biperiodical structures of the conventional type by the fact that the whole structure is not a linear chain of connected resonators, but a ring one. Model tests have shown that the homogeneous structure with transverse rods (STR) at the frequency of 2.8 GHz in the regime of the standing wave has an effective shunt resistance equalling 23 MOhm/m. It is shown that the small transverse size of biperiodic STR makes its application in logging linear electron accelerators
We stress the usefulness of the work reservoir in the formalism of thermodynamics, in particular in the context of the first law. To elucidate its usefulness, the formalism is then applied to the Joule expansion and other peculiar and instructive experimental situations, clarifying the concepts of configuration and dissipative work. The ideas and discussions presented in this study are primarily intended for undergraduate students, but they might also be useful to graduate students, researchers and teachers.
We stress the usefulness of the work reservoir in the formalism of thermodynamics, in particular in the context of the first law. To elucidate its usefulness, the formalism is then applied to the Joule expansion and other peculiar and instructive experimental situations, clarifying the concepts of configuration and dissipative work. The ideas and discussions presented in this study are primarily intended for undergraduate students, but they might also be useful to graduate students, researchers and teachers.
MUFITS is new noncommercial software for numerical modeling of subsurface processes in various applications (www.mufits.imec.msu.ru). To this point, the simulator was used for modeling nonisothermal flows in geothermal reservoirs and for modeling underground carbon dioxide storage. In this work, we present recent extension of the code to petroleum reservoirs. The simulator can be applied in conventional black oil modeling, but it also utilizes a more complicated models for volatile oil and gas condensate reservoirs as well as for oil rim fields. We give a brief overview of the code by providing the description of internal representation of reservoir models, which are constructed of grid blocks, interfaces, stock tanks as well as of pipe segments and pipe junctions for modeling wells and surface networks. For conventional black oil approach, we present the simulation results for SPE comparative tests. We propose an accelerated compositional modeling method for sub- and supercritical flows subjected to various phase equilibria, particularly to three-phase equilibria of vapour-liquid-liquid type. The method is based on the calculation of the thermodynamic potential of reservoir fluid as a function of pressure, total enthalpy and total composition and storing its values as a spline table, which is used in hydrodynamic simulation for accelerated PVT properties prediction. We provide the description of both the spline calculation procedure and the flashing algorithm. We evaluate the thermodynamic potential for a mixture of two pseudo-components modeling the heavy and light hydrocarbon fractions. We develop a technique for converting black oil PVT tables to the potential, which can be used for in-situ hydrocarbons multiphase equilibria prediction under sub- and supercritical conditions, particularly, in gas condensate and volatile oil reservoirs. We simulate recovery from a reservoir subject to near-critical initial conditions for hydrocarbon mixture. We acknowledge
Blackman, B.G.; Cowie, D.M.
Formed in 1979 after the completion of the Peace Canyon Dam, Dinosaur Reservoir is 21 km long and backs water up to the tailrace of W.A.C. Bennett Dam. BC Hydro has funded studies to evaluate fish stocking programs and assess habitat limitations and potential enhancements as part of a water licence agreement. The Peace/Williston Fish and Wildlife Compensation Programs (PWFWCP) have undertaken a number of projects to address fish habitat limitations, entrainment and stocking assessments as a result of recommendations stemming from these studies. It was determined that existing baseline fish data was needed in order to evaluate the effectiveness of these activities. A preliminary boat electro-fishing program which was started in October 2001, noted that a propensity for rainbow trout to concentrate near woody debris. In response, a program was started in 2002 to add woody debris to embayment areas throughout the reservoir. These enhanced woody debris structures are located in small sheltered bays and consist of a series of large trees cabled together and anchored to the shore. The area between the cabled trees and the shoreline is filled with woody debris and root wads collected from along the shoreline. The 2004 assessment of habitat improvements in Dinosaur Reservoir presents the findings from a study that compares the number of fish captured using trap nets, angling, and minnow traps, at the woody debris structures to sites with similar physical characteristics where woody debris had not been added. 17 refs., 5 tabs., 4 figs.
John F. Bell; Alan B. Berg
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...
Full Text Available This paper took extra low permeability reservoirs in Dagang Liujianfang Oilfield as an example and analyzed different types of microscopic pore structures by SEM, casting thin sections fluorescence microscope, and so on. With adoption of rate-controlled mercury penetration, NMR, and some other advanced techniques, based on evaluation parameters, namely, throat radius, volume percentage of mobile fluid, start-up pressure gradient, and clay content, the classification and assessment method of extra low permeability reservoirs was improved and the parameter boundaries of the advantageous reservoirs were established. The physical properties of reservoirs with different depth are different. Clay mineral variation range is 7.0%, and throat radius variation range is 1.81 μm, and start pressure gradient range is 0.23 MPa/m, and movable fluid percentage change range is 17.4%. The class IV reservoirs account for 9.56%, class II reservoirs account for 12.16%, and class III reservoirs account for 78.29%. According to the comparison of different development methods, class II reservoir is most suitable for waterflooding development, and class IV reservoir is most suitable for gas injection development. Taking into account the gas injection in the upper section of the reservoir, the next section of water injection development will achieve the best results.
Federal Laboratory Consortium — The Multi-Purpose Test Stand is used for a wide variety of tests. The Stand is designed to be rotated through a range of fixed yaw positions to allow engines to be...
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...
Full Text Available Echo state networks (ESNs, as efficient and powerful computational models for approximating nonlinear dynamical systems, have been successfully applied in financial time series forecasting. Reservoir constructions in standard ESNs rely on trials and errors in real applications due to a series of randomized model building stages. A novel form of ESN with deterministically constructed reservoir is competitive with standard ESN by minimal complexity and possibility of optimizations for ESN specifications. In this paper, forecasting performances of deterministic ESNs are investigated in stock price prediction applications. The experiment results on two benchmark datasets (Shanghai Composite Index and S&P500 demonstrate that deterministic ESNs outperform standard ESN in both accuracy and efficiency, which indicate the prospect of deterministic ESNs for financial prediction.
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...
Petersen, Louise Ravnløkke Munk; Bang, Anne Louise
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...
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.
Partsch, B; Partsch, H
The aim of this study was to measure the interface pressure of a newly designed two-layer compression stocking (Mediven ulcer kit Medi QMBH, Bayreuth, Germany) in different body positions and to compare the values with those obtained with another two-layer product. Interface pressure was measured on the distal medial leg in 16 legs of volunteers, with the basic layer alone and with the whole stocking kit in the supine, sitting and standing position for both stocking systems. The literature concerning ulcer-healing rates is reviewed. Mediven ulcerkit produced statistically significant higher pressure values than the ulcer stocking with a median resting value of 35.5 mmHg in the supine and 42.5 mmHg in the standing position. The pressure while standing comes close to values exerted by bandages. The basic layer alone applies a pressure of 20.5 mmHg. Especially designed compression stockings exerting sufficient interface pressure may be indicated in patients with small ulcers of short duration.
Full Text Available Mangrove forests offer important ecosystem services, including their high capacity for carbon sequestration and stocking. However, they face rapid degradation and loss of ecological resilience particularly at local scales due to human pressure. We conducted inventory of mangrove forests to characterise forest stand structure and estimate carbon stocks in the small estuarine mangroves of Geza and Mtimbwani in Tanga, Tanzania. Forest structure, above-ground carbon (AGC, and below-ground carbon (BGC were characterised. Soil carbon was estimated to 1 m depth using loss on ignition procedure. Six common mangrove species were identified dominated by Avicennia marina (Forsk. Vierh. and Rhizophora mucronata Lamarck. Forest stand density and basal area were 1740 stems ha−1 and 17.2 m2 ha−1 for Geza and 2334 stems ha−1 and 30.3 m2 ha−1 for Mtimbwani. Total ecosystem carbon stocks were 414.6 Mg C ha−1 for Geza and 684.9 Mg C ha−1 for Mtimbwani. Soil carbon contributed over 65% of these stocks, decreasing with depth. Mid zones of the mangrove stands had highest carbon stocks. These data demonstrate that studied mangroves are potential for carbon projects and provide the baseline for monitoring, reporting, and verification (MRV to support the projects.
Tropical mangroves provide a wide variety of ecosystem services, including atmospheric carbon sequestration. Because of their high rates of carbon accumulation, the large expected size of their total stocks (from 2 to 5 times greater than those of upland tropical forests), and the alarming rates at which they are being converted to other uses (releasing globally from 0.02 to 0.12 Pg C yr-1), mangroves are receiving increasing attention as additional tools to mitigate climate change. However, data on whole ecosystem-level carbon in tropical mangroves is limited. Here I present the first estimate of ecosystem level carbon stocks in mangrove forests of Central America. I established 28, 125 m-long, sampling transects along the 4 main rivers draining the Térraba-Sierpe National Wetland in the southern Pacific coast of Costa Rica. This area represents 39% of all remaining mangroves in the country (48300 ha). A circular nested plot was placed every 25 m along each transect. Carbon stocks of standing trees, regeneration, the herbaceous layer, litter, and downed wood were measured following internationally-developed methods compatible with IPCC "Good Practice Guidelines". In addition, total soil carbon stocks were determined down to 1 m depth. Together, these carbon estimates represent the ecosystem-carbon stocks of these forests. The average aboveground carbon stocks were 72.5 ± 3.2 MgC ha-1 (range: 9 - 241 MgC ha-1), consistent with results elsewhere in the world. Between 74 and 92% of the aboveground carbon is stored in trees ≥ 5cm dbh. I found a significant correlation between basal area of trees ≥ 5cm dbh and total aboveground carbon. Soil carbon stocks to 1 m depth ranged between 141 y 593 MgC ha-1. Ecosystem-level carbon stocks ranged from 391 MgC ha-1 to 438 MgC ha-1, with a slight increase from south to north locations. Soil carbon stocks represent an average 76% of total ecosystem carbon stocks, while trees represent only 20%. These Costa Rican mangroves
Full Text Available The objectives of this study were to estimate changes of tree carbon (C and soil organic carbon (SOC stock following a conversion in land use, an issue that has been only insufficiently addressed. For this study, we examined a chronosequence of 2 to 54-year-old Pinus kesiya var. langbianensis plantations that replaced the original secondary coniferous forest (SCF in Southwest China due to clearing. C stocks considered here consisted of tree, understory, litter, and SOC (0-1 m. The results showed that tree C stocks ranged from 0.02±0.001 Mg C ha-1 to 141.43±5.29 Mg C ha-1, and increased gradually with the stand age. Accumulation of tree C stocks occurred in 20 years after reforestaion and C stock level recoverd to SCF. The maximum of understory C stock was found in a 5-year-old stand (6.74±0.7 Mg C ha-1 with 5.8 times that of SCF, thereafter, understory C stock decreased with the growth of plantation. Litter C stock had no difference excluding effects of prescribed burning. Tree C stock exhibited a significant decline in the 2, 5-year-old stand following the conversion to plantation, but later, increased until a steady state-level in the 20, 26-year-old stand. The SOC stocks ranged from 81.08±10.13 Mg C ha-1 to 160.38±17.96 Mg C ha-1. Reforestation significantly decreased SOC stocks of plantation in the 2-year-old stand which lost 42.29 Mg C ha-1 in the 1 m soil depth compared with SCF by reason of soil disturbance from sites preparation, but then subsequently recovered to SCF level. SOC stocks of SCF had no significant difference with other plantation. The surface profile (0-0.1 m contained s higher SOC stocks than deeper soil depth. C stock associated with tree biomass represented a higher proportion than SOC stocks as stand development proceeded.
Luo, Jiawen; Chen, Langnan; Liu, Hao
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.
John B. Bradford; Nicholas R. Jensen; Grant M. Domke; Anthony W. D' Amato
Forested ecosystems contain the majority of the worldâs terrestrial carbon, and forest management has implications for regional and global carbon cycling. Carbon stored in forests changes with stand age and is affected by natural disturbance and timber harvesting. We examined how harvesting and disturbance interact to influence forest carbon stocks over the Superior...
... prices will stand irrespective of subsequent moves in the underlying security. The right to review on... Plan is designed to prevent trades in individual NMS stocks from occurring outside of specified Price... and catastrophic errors are calculated by determining a theoretical price and applying such price to...
Christopher W. Woodall; Anthony W. D’Amato; John B. Bradford; Andrew O. Finley
Given the ability of forests to mitigate greenhouse gas emissions and provide feedstocks to energy utilities, there is an emerging need to assess forest biomass/carbon accretion opportunities over large areas. Techniques for objectively quantifying stand stocking of biomass/carbon are lacking for large areas given the complexity of tree species composition in the U.S....
J. M. Schmid; S. A. Mata; W. C. Schaupp
Mountain pine beetle-killed ponderosa pine trees in three stands of different stocking levels near Bear Mountain in the Black Hills National Forest were surveyed over a 5-year period to determine how long they persisted as unbroken snags. Rate of breakage varied during the first 5 years after MPB infestation: only one tree broke during the first 2 years in the three...
Kho, Lip Khoon; Jepsen, Martin Rudbeck
cultivation (fallow forests) and 3) oil palm plantations. The forest ecosystems are classified by successional stage and edaphic conditions and represent samples along a forest succession continuum spanning pioneer species in shifting cultivation fallows to climax vegetation in old-growth forests. Total......In Malaysia, the main land change process is the establishment of oil palm plantations on logged-over forests and areas used for shifting cultivation, which is the traditional farming system. While standing carbon stocks of old-growth forest have been the focus of many studies, this is less...... the case for Malaysian fallow systems and oil palm plantations. Here, we collate and analyse Malaysian datasets on total carbon stocks for both above- and below-ground biomass. We review the current knowledge on standing carbon stocks of 1) different forest ecosystems, 2) areas subject to shifting...
Garcia Quijano, J.F.; Muys, B. [Katholieke Universiteit Leuven, Laboratory for Forest, Nature and Landscape Research, Leuven (Belgium); Schlamadinger, B. [Joanneum Research Forschungsgesellschaft mbH, Institute for Energy Research, Graz (Austria); Emmer, I. [Face Foundation, Arnhem (Netherlands); Somogyi, Z. [Forest Research Institute, Budapest (Hungary); Bird, D.N. [Woodrising Consulting Inc., Belfountain, Ontario (Canada)
In many afforestation and reforestation (AR) projects harvesting with stand regeneration forms an integral part of the silvicultural system and satisfies local timber and/or fuelwood demand. Especially clear-cut harvesting will lead to an abrupt and significant reduction of carbon stocks. The smaller the project, the more significant the fluctuations of the carbon stocks may be. In the extreme case a small-scale project could consist of a single forest stand. In such case, all accounted carbon may be removed during a harvesting operation and the time-path of carbon stocks will typically look as in the hypothetical example presented in the report. For the aggregate of many such small-scale projects there will be a constant benefit to the atmosphere during the projects, due to averaging effects.
Bradford, J.B.; Fraver, S.; Milo, A.M.; D'Amato, A.W.; Palik, B.; Shinneman, D.J.
Climate change is anticipated to increase the frequency of disturbances, potentially impacting carbon stocks in terrestrial ecosystems. However, little is known about the implications of either multiple disturbances or post-disturbance forest management activities on ecosystem carbon stocks. This study quantified how forest carbon stocks responded to stand-replacing blowdown and wildfire, both individually and in combination with and without post-disturbance salvage operations, in a sub-boreal jack pine ecosystem. Individually, blowdown or fire caused similar decreases in live carbon and total ecosystem carbon. However, whereas blowdown increased carbon in down woody material and forest floor, fire increased carbon in standing snags, a difference that may have consequences for long-term carbon cycling patterns. Fire after the blowdown caused substantial additional reduction in ecosystem carbon stocks, suggesting that potential increases in multiple disturbance events may represent a challenge for sustaining ecosystem carbon stocks. Salvage logging, as examined here, decreased carbon stored in snags and down woody material but had no significant effect on total ecosystem carbon stocks.
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.
Full Text Available Background The spruce forests are dominant communities in northwest China, and play a key role in national carbon budgets. However, the patterns of carbon stock distribution and accumulation potential across stand ages are poorly documented. Methods We investigated the carbon stocks in biomass and soil in the natural spruce forests in the region by surveys on 39 plots. Biomass of tree components were estimated using allometric equations previously established based on tree height and diameter at breast height, while biomass in understory (shrub and herb and forest floor were determined by total harvesting method. Fine root biomass was estimated by soil coring technique. Carbon stocks in various biomass components and soil (0–100 cm were estimated by analyzing the carbon content of each component. Results The results showed that carbon stock in these forest ecosystems can be as high as 510.1 t ha−1, with an average of 449.4 t ha−1. Carbon stock ranged from 28.1 to 93.9 t ha−1 and from 0.6 to 8.7 t ha−1 with stand ages in trees and deadwoods, respectively. The proportion of shrubs, herbs, fine roots, litter and deadwoods ranged from 0.1% to 1% of the total ecosystem carbon, and was age-independent. Fine roots and deadwood which contribute to about 2% of the biomass carbon should be attached considerable weight in the investigation of natural forests. Soil carbon stock did not show a changing trend with stand age, ranging from 254.2 to 420.0 t ha−1 with an average of 358.7 t ha−1. The average value of carbon sequestration potential for these forests was estimated as 29.4 t ha−1, with the lower aged ones being the dominant contributor. The maximum carbon sequestration rate was 2.47 t ha−1 year−1 appearing in the growth stage of 37–56 years. Conclusion The carbon stock in biomass was the major contributor to the increment of carbon stock in ecosystems. Stand age is not a good predictor of soil carbon stocks and accurate
Van der Sande, Guy; Brunner, Daniel; Soriano, Miguel C.
We review a novel paradigm that has emerged in analogue neuromorphic optical computing. The goal is to implement a reservoir computer in optics, where information is encoded in the intensity and phase of the optical field. Reservoir computing is a bio-inspired approach especially suited for processing time-dependent information. The reservoir's complex and high-dimensional transient response to the input signal is capable of universal computation. The reservoir does not need to be trained, which makes it very well suited for optics. As such, much of the promise of photonic reservoirs lies in their minimal hardware requirements, a tremendous advantage over other hardware-intensive neural network models. We review the two main approaches to optical reservoir computing: networks implemented with multiple discrete optical nodes and the continuous system of a single nonlinear device coupled to delayed feedback.
Full Text Available Turkey’s natural river systems have been anthropogenically altered in the past century. Native fish communities of river systems have comeunder increasing pressure from water engineering projects, pollution, overfishing and the movements of alien fish species. Introduction ofalien fishes is one of the main threats to the survival and genetic integrity of native fishes around the world. In Turkey, alien freshwater fish are continuing to increase in number of species, abundance, and distribution. The present paper reviews fish stocking studies in Turkey’s reservoirs.
properties like saturation pressures, densities at reservoir temperature and Stock TankviOil (STO) densities, while keeping the n-alkane limit of the correlations unchanged. Apart from applying this general approach to PC-SAFT, we have also shown that the approach can be applied to classical cubic models...... approach to characterizing reservoir fluids for any EoS. The approach consists in developing correlations of model parameters first with a database for well-defined components and then adjusting the correlations with a large PVT database. The adjustment is made to minimize the deviation in key PVT...... method to SRK and PR improved the saturation pressure calculation in comparisonto the original characterization method for SRK and PR. Using volume translationtogether with the new characterization approach for SRK and PR gives comparable results for density and STO density to that of original...
Mustapha, Moshood K
Morphometrics and physico-chemical parameters of Oyun reservoir, Offa, Nigeria (a small shallow tropical African Reservoir) were used to estimate the potential fish yield of the reservoir according to the morpho-edaphic index (MEI). Physico-chemical characteristics of the water body were sampled monthly from three stations between January 2002 and December 2003 with standard methods. Estimates of the potential fish yield were obtained using the physico-chemical characteristics of the reservoir and the relationship Y = 23.281 MEI(0.447), where Y is the potential fish yield in kg/ha, MEI is the morpho-edaphic index (given in microS/cm and estimated by dividing the mean conductivity by the mean depth). The reservoir mean depth and conductivity values were 2.6m and 113.10 microS/cm respectively, while its potential fish yield was estimated at 125.72 kg/ha. This estimate was higher than other small shallower and larger African reservoirs. The reservoir high ionic content, high nutrient and dissolved oxygen levels, good pH, low level of pollution and shallow depth were responsible for the high estimate of the fish yield. In order to realize this high potential fish yield and sustainable exploration of the fisheries, effective management of the reservoir to curb eutrophication should be adopted, while other management practices such as stocking and conservation of desirable and indigenous fish species, implementation of fishing regulations and adoption of best management practices should be implemented.
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...
Scott, Eddie Elmer; Aines, Roger D.; Spadaccini, Christopher M.
In one general embodiment, a system includes at least one microsensor configured to detect one or more conditions of a fluidic medium of a reservoir; and a receptacle, wherein the receptacle encapsulates the at least one microsensor. In another general embodiment, a method include injecting the encapsulated at least one microsensor as recited above into a fluidic medium of a reservoir; and detecting one or more conditions of the fluidic medium of the reservoir.
Dangal, Shambhu Prasad; Das, Abhoy Kumar; Paudel, Shyam Krishna
Nepal has successfully established more than 370,000 ha of plantations, mostly with Pinus patula, in the last three and a half decades. However, intensive management of these planted forests is very limited. Despite the fact that the Kyoto Convention in 1997 recognized the role of plantations for forest-carbon sequestration, there is still limited knowledge on the effects of management practices and stand density on carbon-sequestration of popular plantation species (i.e. Pinus patula) in Nepal. We carried out case studies in four community forests planted between 1976 and 1990 to assess the impacts of management on forest carbon stocks. The study found that the average carbon stock in the pine plantations was 217 Mg C ha -1 , and was lower in forests with intensively managed plantations (214.3 Mg C ha -1 ) than in traditionally managed plantations (219 Mg C ha -1 ). However, it was the reverse in case of soil carbon, which was higher (78.65 Mg C ha -1 ) in the forests with intensive management. Though stand density was positively correlated with carbon stock, the proportionate increment in carbon stock was lower with increasing stand density, as carbon stock increased by less than 25% with a doubling of stand density (300-600). The total carbon stock was higher in plantations aged between 25 and 30 years compared to those aged between 30 and 35 years. Copyright © 2017 Elsevier Ltd. All rights reserved.
Duport, François; Schneider, Bendix; Smerieri, Anteo; Haelterman, Marc; Massar, Serge
Reservoir Computing is a novel computing paradigm that uses a nonlinear recurrent dynamical system to carry out information processing. Recent electronic and optoelectronic Reservoir Computers based on an architecture with a single nonlinear node and a delay loop have shown performance on standardized tasks comparable to state-of-the-art digital implementations. Here we report an all-optical implementation of a Reservoir Computer, made of off-the-shelf components for optical telecommunications. It uses the saturation of a semiconductor optical amplifier as nonlinearity. The present work shows that, within the Reservoir Computing paradigm, all-optical computing with state-of-the-art performance is possible.
Garland, J.; Neilson, J.; Laubach, S.E.; Whidden, Katherine J.
The development of innovative techniques and concepts, and the emergence of new plays in carbonate rocks are creating a resurgence of oil and gas discoveries worldwide. The maturity of a basin and the application of exploration concepts have a fundamental influence on exploration strategies. Exploration success often occurs in underexplored basins by applying existing established geological concepts. This approach is commonly undertaken when new basins ‘open up’ owing to previous political upheavals. The strategy of using new techniques in a proven mature area is particularly appropriate when dealing with unconventional resources (heavy oil, bitumen, stranded gas), while the application of new play concepts (such as lacustrine carbonates) to new areas (i.e. ultra-deep South Atlantic basins) epitomizes frontier exploration. Many low-matrix-porosity hydrocarbon reservoirs are productive because permeability is controlled by fractures and faults. Understanding basic fracture properties is critical in reducing geological risk and therefore reducing well costs and increasing well recovery. The advent of resource plays in carbonate rocks, and the long-standing recognition of naturally fractured carbonate reservoirs means that new fracture and fault analysis and prediction techniques and concepts are essential.
Parsons, John W.
Principal problems concerning the fisheries of large reservoirs in the Southeast are: inefficient and highly selective exploitation of fish stocks, and protection and reclamation of damaged or threatened fisheries in tailwaters and tributary streams. Seven mainstream reservoirs on which data are available support an average angling pressure of 4.9 trips per acre per year and an average catch of 16 pounds of sport fish and 6 pounds of food fish. Commercial take is 7 pounds per acre. The rate of catch of sport fish, based upon tag returns, is only 3 percent. Sixteen storage reservoirs support an average angling pressure of 5.0 trips per acre per year and an average catch of 13 pounds of sport fish and 1 pound of food fish. Commercial catch is of no significance. Average rate of catch of sport fish is 17 percent of the catchable population. Fish population studies indicate that there are twice as many sport fish and four times as many food fish in mainstream than there are in storage reservoirs.
James E. Smith; Linda S. Heath; Jennifer C. Jenkins
Includes methods and equations for nationally consistent estimates of tree-mass density at the stand level (Mg/ha) as predicted by growing-stock volumes reported by the USDA Forest Service for forests of the conterminous United States. Developed for use in FORCARB, a carbon budget model for U.S. forests, the equations also are useful for converting plot-, stand- and...
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.
Liu, Xiangwei; Ma, Xin
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…
The program objective is to demonstrate the technology readiness of a TFE (thermionic fuel element) suitable for use as the basic element in a thermionic reactor with electric power output in the 0.5 to 5.0 MW range. A thermionic converter must be supplied with cesium vapor for two reasons. Cesium atoms adsorbed on the surface of the emitter cause a reduction of the emitter work function to permit high current densities without excessive heating of the emitter. The second purpose of the cesium vapor is to provide space-charge neutralization in the emitter-collector gap so that the high current densities may flow across the gap unattenuated. The function of the cesium reservoir is to provide a source of cesium atoms, and to provide a reserve in the event that cesium is lost from the plasma by any mechanism. This can be done with a liquid cesium metal reservoir in which case it is heated to the desired temperature with auxiliary heaters. In a TFE, however, it is desirable to have the reservoir passively heated by the nuclear fuel. In this case, the reservoir must operate at a temperature intermediate between the emitter and the collector, ruling out the use of liquid reservoirs. Integral reservoirs contained within the TFE will produce cesium vapor pressures in the desired range at typical electrode temperatures. The reservoir material that appears to be the best able to meet requirements is graphite. Cesium intercalates easily into graphite, and the cesium pressure is insensitive to loading for a given intercalation stage. The goals of the cesium reservoir test program were to verify the performance of Cs-graphite reservoirs in the temperature-pressure range of interest to TFE operation, and to test the operation of these reservoirs after exposure to a fast neutron fluence corresponding to seven year mission lifetime. In addition, other materials were evaluated for possible use in the integral reservoir
Ryba, Tatiana; Stambulova, Natalia; Si, Gangyan
The multicultural landscape of contemporary sport sets a challenge to rethink sport and exercise psychology research and practice through a culturally re␣exive lens. This ISSP Position Stand provides a rigorous synthesis and engagement with existing scholarship to outline a roadmap for future work...... in the ␣eld. The shift to culturally competent sport and exercise psychology implies: (a) recognizing hidden ethnocentric philosophical assumptions permeating much of the current theory, research, and practice; (b) transitioning to professional ethics in which difference is seen as not inherent and ␣xed...... but as relational and ␣uid; and (c) focusing on meaning (instead of cause) in cross-cultural and cultural research projects, and cultural praxis work. In the paper, we ␣rst provide an overview of the concepts of cultural competence and ethics of difference. Second, we present a step-by-step approach for developing...
Ordinary Meeting on 11 May 2009 The meeting of the Standing Concertation Committee held on 11 May 2009 was entirely dedicated to the preparation of the TREF meeting on 19 & 20 May 2009. The Committee took note, discussed and agreed on some clarifications on a number of documents and presentations that the Management planned to submit and/or present to TREF on the following subjects: • Personnel statistics 2008: J. Purvis presented the Personnel Statistics for 2008 prepared by HR Department. In line with the previous year, key messages were firstly, a general reduction in staff (2544 to 2400, - 6%), secondly, a reduction in administrative services personnel (from 422 to 387, - 8%) and thirdly, a marked increase in the number of Users and Unpaid Associates (from 8369 to 9140, + 9%) • Five-Yearly Review 2010: A series of draft documents were submitted for discussion, comprising an introductory document explaining the statutory basis for the following four document...
The main items discussed at the meetings of the Standing Concertation Committee in the first quarter of 2009 included: Merit Appraisal and Recognition Scheme (MARS) 2009 exercise The committee took note of 2009 MARS ceiling guidelines giving the advancement budget by career path and amounting to approx 1.80% of the basic salary bill. To this will be added 250 steps CERN-wide, financed by savings from implementation of the international indemnity for 2007, 2008 and the first half of 2009. The specific Senior Staff Guidelines, including the proposed number of promotions from Career Path E to F, were also noted. The guidelines with respect to step distribution were also noted: the minima and maxima remain the same as in previous years. Compliance with the guidelines will continue to be monitored closely (more details, including a frequently asked questions section). It was also noted that Financial Awards (awards for extraordinary service and responsibility allowances) may b...
Main issues examined at the meeting of 2 October 2009 The October 2009 meeting of the Standing Concertation Committee was entirely devoted to preparation of TREF’s meeting on 21-22 October. The Committee took note of, discussed and agreed on clarifications needed to some of the documents and presentations that the Management intended to submit and/or present to TREF on the following subjects: Equal opportunities The Committee took note of a preliminary report on equal opportunities at CERN drawn up by D. Chromek-Burckhart, the Equal Opportunities Officer, and T. Smith, Chairman of the Equal Opportunities Advisory Panel, containing in particular a proposal for a new process for resolving harassment conflicts. Technical analysis of the CERN Health Insurance Scheme - Actuary’s Report The Committee took note of a presentation by P. Charpentier, Chairman of the CERN Health Insurance Supervisory Board (CHIS Board), on the 2009 actuarial report on the CERN Health Insurance Scheme (CHIS). Th...
Ordinary meeting on 2 november 2007 Extraordinary meeting on 12 November 2007 The main items discussed at the meetings of the Standing Concertation Committee on 2 November 2007 and 12 November included: Restaurants Supervisory Committee Report The committee took note of the report by the chairman of the Restaurants Supervisory Committee (RSC), T. Lagrange. In particular, it was recorded that, in Restaurant No. 1, the new kitchen and free flow arrangements had been inaugurated and all works had been commissioned on schedule in October 2007.The contractor, Novae, had taken over maintenance of the new kitchen. Some price increases were to be expected in the coming months due mainly to strong increases in the cost of basic ingredients. A problem with bad smells in the area of Restaurant No. 1 was being taken care of by tuning the ventilation system. The RSC wished to thank the management and staff of Restaurant No. 2 for their cooperation while Restaurant No 1 was ...
ORDINARY MEETING ON 27 FEBRUARY 2008 The main items discussed at the meetings of the Standing Concertation Committee on 27 February 2008 included: Short-term Saved Leave Scheme The committee noted that, by the end of February 2008, some 600 staff had subscribed to the short-term saved leave scheme: approx 58% had subscribed 1 slice, 14% two slices, 5% three slices and 23% four slices. Administrative Circular No. 4 (Rev. 4) - Unemployment Insurance Scheme The committee agreed to recommend Administrative Circular No. 4 (Rev. 4) - Unemployment Insurance Scheme to the Director-General for approval. Administrative Circular No. 30 (Rev. 2) - Financial benefits upon taking up appointment and termination of contract The committee agreed to recommend Administrative Circular No. 30 (Rev. 2) - Financial Benefits upon taking up appointment and termination of contract to the Director-General for approval. Progressive Retirement Programme The Progressive Retirement Programme (PRP) was extended for a further year to 3...
ORDINARY MEETING ON 27 FEBRUARY 2008 The main items discussed at the meetings of the Standing Concertation Committee on 27 February 2008 included: Short-term Saved Leave Scheme The Committee noted that, by the end of February 2008, some 600 staff had enrolled in the short-term saved leave scheme: approx. 58% had signed up for 1 slice, 14% for two slices, 5% for three slices and 23% for four slices. Administrative Circular No. 4 (Rev. 4) - Unemployment Insurance Scheme The Committee agreed to recommend the Director-General to approve Administrative Circular No. 4 (Rev. 4) - Unemployment Insurance Scheme. Administrative Circular No. 30 (Rev. 2) - Financial benefits upon taking up appointment and termination of contract The Committee agreed to recommend the Director-General to approve Administrative Circular No. 30 (Rev. 2) - Financial Benefits upon taking up appointment and termination of contract. Progressive Retirement Programme The Progressive Retirement Programme (PR...
Balogh, Emeric; Simonsen, Ingve; Nagy, Bálint Zs.; Néda, Zoltán
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.
Verdejo S, M.
The standing legislation in Mexico on food irradiation matter has its basis on the Constitutional Policy of the Mexican United States on the 4 Th. article by its refers to Secretary of Health, 27 Th. article to the Secretary of Energy and 123 Th. of the Secretary of Work and Social Security. The laws and regulations emanated of the proper Constitution establishing the general features which gives the normative frame to this activity. The general regulations of Radiological Safety expedited by the National Commission for Nuclear Safety and Safeguards to state the specifications which must be fulfill the industrial installations which utilizing ionizing radiations, between this line is founded, just as the requirements for the responsible of the radiological protection and the operation of these establishments. The project of Regulation of the General Health Law in matter of Sanitary Control of Benefits and Services, that in short time will be officialized, include a specific chapter on food irradiation which considers the International Organizations Recommendations and the pertaining harmonization stated for Latin America, which elaboration was in charge of specialized group where Mexico was participant. Additionally, the Secretary of Health has a Mexican Official Standard NOM-033-SSA1-1993 named 'Food irradiation; permissible doses in foods, raw materials and support additives' standing from the year 1995, where is established the associated requirements to the control registers, service constancies and dose limits for different groups of foods, moreover of the specific guidelines for its process. This standard will be adequate considering the updating Regulation of Benefits and Services and the limits established the Regulation for Latin America. The associated laws that cover in general terms it would be the requirements for food irradiation although such term is not manageable. (Author)
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.
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.
Yi, K.; Park, C.; Ryu, S.; Lee, K.; Yi, M.; Kim, C.; Park, G.; Kim, R.; Son, Y.
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
Summaries are included which show advances in the following areas: fractured porous media, flow in single fractures or networks of fractures, hydrothermal flow, hydromechanical effects, hydrochemical processes, unsaturated-saturated systems, and multiphase multicomponent flows. The main thrust of these efforts is to understand the movement of mass and energy through rocks. This has involved treating fracture rock masses in which the flow phenomena within both the fractures and the matrix must be investigated. Studies also address the complex coupling between aspects of thermal, hydraulic, and mechanical processes associated with a nuclear waste repository in a fractured rock medium. In all these projects, both numerical modeling and simulation, as well as field studies, were employed. In the theoretical area, a basic understanding of multiphase flow, nonisothermal unsaturated behavior, and new numerical methods have been developed. The field work has involved reservoir testing, data analysis, and case histories at a number of geothermal projects
The four chapters that are described in this report cover a variety of subjects that not only give insight into the understanding of multiphase flow in fractured porous media, but they provide also major contribution towards the understanding of flow processes with in-situ phase formation. In the following, a summary of all the chapters will be provided. Chapter I addresses issues related to water injection in water-wet fractured porous media. There are two parts in this chapter. Part I covers extensive set of measurements for water injection in water-wet fractured porous media. Both single matrix block and multiple matrix blocks tests are covered. There are two major findings from these experiments: (1) co-current imbibition can be more efficient than counter-current imbibition due to lower residual oil saturation and higher oil mobility, and (2) tight fractured porous media can be more efficient than a permeable porous media when subjected to water injection. These findings are directly related to the type of tests one can perform in the laboratory and to decide on the fate of water injection in fractured reservoirs. Part II of Chapter I presents modeling of water injection in water-wet fractured media by modifying the Buckley-Leverett Theory. A major element of the new model is the multiplication of the transfer flux by the fractured saturation with a power of 1/2. This simple model can account for both co-current and counter-current imbibition and computationally it is very efficient. It can be orders of magnitude faster than a conventional dual-porosity model. Part II also presents the results of water injection tests in very tight rocks of some 0.01 md permeability. Oil recovery from water imbibition tests from such at tight rock can be as high as 25 percent. Chapter II discusses solution gas-drive for cold production from heavy-oil reservoirs. The impetus for this work is the study of new gas phase formation from in-situ process which can be significantly
A survey of literature is made on reservoir sedimentation, one of the most threatening processes for world-wide reservoir performance. The sedimentation processes, their impacts, and their controlling factors are assessed from a hydraulic engineering point of view with special emphasis on
Bradford, John B.; Jensen, Nicholas R.; Domke, Grant M.; D’Amato, Anthony W.
Forested ecosystems contain the majority of the world’s terrestrial carbon, and forest management has implications for regional and global carbon cycling. Carbon stored in forests changes with stand age and is affected by natural disturbance and timber harvesting. We examined how harvesting and disturbance interact to influence forest carbon stocks over the Superior National Forest, in northern Minnesota. Forest inventory data from the USDA Forest Service, Forest Inventory and Analysis program were used to characterize current forest age structure and quantify the relationship between age and carbon stocks for eight forest types. Using these findings, we simulated the impact of alternative management scenarios and natural disturbance rates on forest-wide terrestrial carbon stocks over a 100-year horizon. Under low natural mortality, forest-wide total ecosystem carbon stocks increased when 0% or 40% of planned harvests were implemented; however, the majority of forest-wide carbon stocks decreased with greater harvest levels and elevated disturbance rates. Our results suggest that natural disturbance has the potential to exert stronger influence on forest carbon stocks than timber harvesting activities and that maintaining carbon stocks over the long-term may prove difficult if disturbance frequency increases in response to climate change.
Van der Sande Guy
Full Text Available We review a novel paradigm that has emerged in analogue neuromorphic optical computing. The goal is to implement a reservoir computer in optics, where information is encoded in the intensity and phase of the optical field. Reservoir computing is a bio-inspired approach especially suited for processing time-dependent information. The reservoir’s complex and high-dimensional transient response to the input signal is capable of universal computation. The reservoir does not need to be trained, which makes it very well suited for optics. As such, much of the promise of photonic reservoirs lies in their minimal hardware requirements, a tremendous advantage over other hardware-intensive neural network models. We review the two main approaches to optical reservoir computing: networks implemented with multiple discrete optical nodes and the continuous system of a single nonlinear device coupled to delayed feedback.
Jack M. Mintz
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
Mani, Seethambal S.; van Bloemen Waanders, Bart Gustaaf; Cooper, Scott Patrick; Jakaboski, Blake Elaine; Normann, Randy Allen; Jennings, Jim (University of Texas at Austin, Austin, TX); Gilbert, Bob (University of Texas at Austin, Austin, TX); Lake, Larry W. (University of Texas at Austin, Austin, TX); Weiss, Chester Joseph; Lorenz, John Clay; Elbring, Gregory Jay; Wheeler, Mary Fanett (University of Texas at Austin, Austin, TX); Thomas, Sunil G. (University of Texas at Austin, Austin, TX); Rightley, Michael J.; Rodriguez, Adolfo (University of Texas at Austin, Austin, TX); Klie, Hector (University of Texas at Austin, Austin, TX); Banchs, Rafael (University of Texas at Austin, Austin, TX); Nunez, Emilio J. (University of Texas at Austin, Austin, TX); Jablonowski, Chris (University of Texas at Austin, Austin, TX)
The project objective was to detail better ways to assess and exploit intelligent oil and gas field information through improved modeling, sensor technology, and process control to increase ultimate recovery of domestic hydrocarbons. To meet this objective we investigated the use of permanent downhole sensors systems (Smart Wells) whose data is fed real-time into computational reservoir models that are integrated with optimized production control systems. The project utilized a three-pronged approach (1) a value of information analysis to address the economic advantages, (2) reservoir simulation modeling and control optimization to prove the capability, and (3) evaluation of new generation sensor packaging to survive the borehole environment for long periods of time. The Value of Information (VOI) decision tree method was developed and used to assess the economic advantage of using the proposed technology; the VOI demonstrated the increased subsurface resolution through additional sensor data. Our findings show that the VOI studies are a practical means of ascertaining the value associated with a technology, in this case application of sensors to production. The procedure acknowledges the uncertainty in predictions but nevertheless assigns monetary value to the predictions. The best aspect of the procedure is that it builds consensus within interdisciplinary teams The reservoir simulation and modeling aspect of the project was developed to show the capability of exploiting sensor information both for reservoir characterization and to optimize control of the production system. Our findings indicate history matching is improved as more information is added to the objective function, clearly indicating that sensor information can help in reducing the uncertainty associated with reservoir characterization. Additional findings and approaches used are described in detail within the report. The next generation sensors aspect of the project evaluated sensors and packaging
Ordinary meeting on 30 January 2007 The main items discussed at the meeting of the Standing Concertation Committee on 30 January 2007 included: Administrative Circular No. 26: with the introduction of the merit recognition system in the framework of the 5-yearly review of CERN employment conditions, Administrative Circular No. 26 has been revised. The committee took note of the revised document which is being finalized for submission to the Director-General for approval in the near future. Technical analysis of CERN Health Insurance Scheme: the Committee was informed that a group has been set up by the Director-General to analyse the financial situation of the CERN Health Insurance Scheme in the short and long term, and to propose measures to ensure that the Scheme remains in financial balance, with adequate cover, over the medium term. The group's terms of reference and membership were communicated. Voluntary programmes It was announced that the programmes: 'part-time work as a pre-retirement measure...
ORDINARY MEETING ON 30 JANUARY 2007 The main items discussed at the meeting of the Standing Concertation Committee on 30 January 2007 included: Administrative Circular No. 26: with the introduction of the merit recognition system in the framework of the 5-yearly review of CERN employment conditions, Administrative Circular No. 26 has been revised. The Committee took note of the revised document which is being finalized for submission to the Director-General for approval in the near future. Technical analysis of CERN Health Insurance Scheme: the Committee was informed that a group has been set up by the Director-General to analyse the financial situation of the CERN Health Insurance Scheme in the short and long term, and to propose measures to ensure that the Scheme remains in financial balance, with adequate cover, over the medium term. The group's terms of reference and membership were communicated. Voluntary programmes It was announced that the programmes: 'part-time work as a pre-retirement mea...
Ordinary meeting on 27 February 2007 The main items discussed at the meeting of the Standing Concertation Committee on 27 February 2007 included: Saved Leave Scheme (SLS): It was announced that a Management/Staff Association working group had been set up to discuss the Saved Leave Scheme (SLS): Members: M. Büttner, E. Chiaveri (chair), Ph. Defert, D. Klem, M. Vitasse, J.-M. Saint-Viteux. It was noted that the Staff Association was launching a questionnaire on SLS and distributed to all members of the personnel. Merit Recognition Guidelines : in the context of the new Merit Appraisal and Recognition Scheme (MARS), the committee took note of the CERN-wide 2007 Merit Recognition Guidelines, including the Frequently Asked Questions on HR Department's dedicated website. Information on CERN's medium and long-term plans (MTP-LTP)/Contract renewals/ External mobility The Committee took note of the information provided on CERN's MTP-LTP and of documentation distributed at the meeting by the Staff Associatio...
ORDINARY MEETING ON 27 FEBRUARY 2007 The main items discussed at the meeting of the Standing Concertation Committee on 27 February 2007 included: Saved Leave Scheme (SLS): It was announced that a Management/Staff Association working group had been set up to discuss the Saved Leave Scheme (SLS): Members : M. Büttner, E. Chiaveri (chair), Ph. Defert, D. Klem, M. Vitasse, J.-M. Saint-Viteux. It was noted that the Staff Association was launching a questionnaire on SLS and distributed to all members of the personnel. Merit Recognition Guidelines: In the context of the new Merit Appraisal and Recognition Scheme (MARS), the committee took note of the CERN-wide 2007 Merit Recognition Guidelines, including the Frequently Asked Questions on HR Department's dedicated website. Information on CERN's medium and long-term plans (MTP-LTP)/Contract renewals/ External mobility The Committee took note of the information provided on CERN's MTP-LTP and of documentation distributed at the meeting by the Staff ...
A CMS physicist and amateur stand up comic was named the winner of NESTA FameLab 2009. Tom Whyntie battled it out with nine others young scientists from across the UK to win the contest to find the country’s next top science communicator. Tom Whyntie with his prize money after the NESTA Famelab final.Tom Whyntie, who is currently doing his PhD on the CMS experiment, managed to persuade his supervisor to give him a few days off on 5 June so he could fly back to the UK for the final of NESTA FameLab 2009. In the competition, which has been dubbed ‘the X Factor for scientists’, he had just three minutes to explain a complex scientific idea to a panel of judges made up of high-profile science professionals. During the final, he captivated the audience with his talk about how finding nothing at the LHC, far from being a waste of £5 billion, would actually catalyse the next scientific revolution. It Whyntie’s own words: "If the L...
MEETINGS ON 2 AND 9 DECEMBER 2008 The main items discussed at the meetings of the Standing Concertation Committee on 2 and 9 December 2008 included: Medical Service Report 2007 The Committee took note of the report by Dr. E. Reymond (see http://sc-me.web.cern.ch/sc-me/fr/indexFR.htm) and of a number of points raised during the discussion. It was noted that the number of professional accidents declined in 2007 (361 accidents) in comparison with 2006 (483), as well as their gravity and frequency. The CERN Medical Service carried out a study on cancer prevalence (number of cases) and incidence (new cases per year per 100000 people), between 1993 and 2007, which identified some prostate, breast and colorectal cancers, though less than in the two Host States. Specific preventive actions will be promoted by the CERN CHISboard and the Medical Service in this context as well as in other areas. The committee expressed its thanks to all members of the Medical Service for their work i...
Gary W. Miller
Managing central hardwood stands involves making choices. Each year landowners face at least three alternatives for managing a stand: (1) allow it to grow undisturbed, (2) undertake a partial or complete commercial harvest, or (3) culture the timber crop through a precommercial investment. Each activity affects long-term monetary returns. The "best" choice in...
Jeffrey S. Ward; David M. Smith
The stand dynamics and production of two one-acre plots of eastern hemlock (Tsuga canadensis L) in Connecticut have been followed for more than six decades. Data were recorded for all individual trees. One plot (Saltonstall) was established in 1924 after the removal of a hardwood overstory. This stand had a nearly pure, almost fully closed understory...
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.
Full Text Available The Grain for Green Program (GGP is the largest afforestation and reforestation project in China in the early part of this century. To assess carbon sequestration in stands under the GGP in Southwest China, the carbon stocks and their annual changes in the GGP stands in the region were estimated based on the following information: (1 collected data on the annually planted area of each tree species under the GGP in Southwest China from 1999 to 2010; (2 development of empirical growth curves and corresponding carbon estimation models for each species growing in the GPP stands; and (3 parameters associated with the stands such as wood density, biomass expansion factor, carbon fraction and the change rate of soil organic carbon content. Two forest management scenarios were examined: scenario A, with no harvesting, and scenario B, with logging at the customary rotation followed by replanting. The results showed that by the years 2020, 2030, 2040, 2050 and 2060, the expected carbon storage of the GGP stands in Southwest China is 139.58 TgC, 177.50-207.55 TgC, 196.86-259.65 TgC, 240.45-290.62 TgC and 203.22-310.03 TgC (T = 1012, respectively. For the same years, the expected annual change in carbon stocks is 7.96 TgCyr-1, -7.95-5.95 TgCyr-1, -0.10-4.67 TgCyr-1, 4.31-2.24 TgCyr-1 and -0.02-1.75 TgCyr-1, respectively. This indicates that the stands significantly contribute to forest carbon sinks in this region. In 2060, the estimated carbon stocks in the seven major species of GGP stands in Southwest China are 4.16-13.01 TgC for Pinus armandii, 6.30-15.01 TgC for Pinus massoniana, 11.51-13.44 TgC for Cryptomeria fortunei, 15.94-24.13 TgC for Cunninghamia lanceolata, 28.05 TgC for Cupressus spp., 5.32-15.63 TgC for Populus deltoides and 5.87-14.09 TgC for Eucalyptus spp. The carbon stocks in these seven species account for 36.8%-41.4% of the total carbon stocks in all GGP stands over the next 50 years.
Hussain, Maaruf; Saad, Bilal; Negara, Ardiansyah; Sun, Shuyu
Successful exploitation of shale reservoirs largely depends on the effectiveness of hydraulic fracturing stimulation program. Favorable results have been attributed to intersection and reactivation of pre-existing fractures by hydraulically
Liem Pei Fun
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
Ferreira, Susana; Karali, Berna
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.
Farida Agustini, W.; Restu Affianti, Ika; Putri, Endah RM
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%.
Full Text Available Enhanced oil recovery using nitrogen injection is a commonly applied method for pressure maintenance in conventional reservoirs. Numerical simulations can be practiced for the prediction of a reservoir performance in the course of injection process; however, a detailed simulation might take up enormous computer processing time. In such cases, a simple statistical model may be a good approach to the preliminary prediction of the process without any application of numerical simulation. In the current work, seven rock/fluid reservoir properties are considered as screening parameters and those parameters having the most considerable effect on the process are determined using the combination of experimental design techniques and reservoir simulations. Therefore, the statistical significance of the main effects and interactions of screening parameters are analyzed utilizing statistical inference approaches. Finally, the influential parameters are employed to create a simple statistical model which allows the preliminary prediction of nitrogen injection in terms of a recovery factor without resorting to numerical simulations.
Armengol, J; Merce, R
Sau Reservoir was first filled in 1963 in a middle stretch of the Ter River, as part of a multi-use scheme, including hydroelectric power, agricultural irrigation, domestic and industrial water supply...
Successful exploitation of shale reservoirs largely depends on the effectiveness of hydraulic fracturing stimulation program. Favorable results have been attributed to intersection and reactivation of pre-existing fractures by hydraulically-induced fractures that connect the wellbore to a larger fracture surface area within the reservoir rock volume. Thus, accurate estimation of the stimulated reservoir volume (SRV) becomes critical for the reservoir performance simulation and production analysis. Micro-seismic events (MS) have been commonly used as a proxy to map out the SRV geometry, which could be erroneous because not all MS events are related to hydraulic fracture propagation. The case studies discussed here utilized a fully 3-D simulation approach to estimate the SRV. The simulation approach presented in this paper takes into account the real-time changes in the reservoir\\'s geomechanics as a function of fluid pressures. It is consisted of four separate coupled modules: geomechanics, hydrodynamics, a geomechanical joint model for interfacial resolution, and an adaptive re-meshing. Reservoir stress condition, rock mechanical properties, and injected fluid pressure dictate how fracture elements could open or slide. Critical stress intensity factor was used as a fracture criterion governing the generation of new fractures or propagation of existing fractures and their directions. Our simulations were run on a Cray XC-40 HPC system. The studies outcomes proved the approach of using MS data as a proxy for SRV to be significantly flawed. Many of the observed stimulated natural fractures are stress related and very few that are closer to the injection field are connected. The situation is worsened in a highly laminated shale reservoir as the hydraulic fracture propagation is significantly hampered. High contrast in the in-situ stresses related strike-slip developed thereby shortens the extent of SRV. However, far field nature fractures that were not connected to
Meinert, D.L.; Butkus, S.R.; McDonough, T.A.
The objectives of this report are three-fold: (1) assess physical, chemical, and biological conditions in the major embayments of Chickamauga Reservoir; (2) compare water quality and biological conditions of embayments with main river locations; and (3) identify any water quality concerns in the study embayments that may warrant further investigation and/or management actions. Embayments are important areas of reservoirs to be considered when assessments are made to support water quality management plans. In general, embayments, because of their smaller size (water surface areas usually less than 1000 acres), shallower morphometry (average depth usually less than 10 feet), and longer detention times (frequently a month or more), exhibit more extreme responses to pollutant loadings and changes in land use than the main river region of the reservoir. Consequently, embayments are often at greater risk of water quality impairments (e.g. nutrient enrichment, filling and siltation, excessive growths of aquatic plants, algal blooms, low dissolved oxygen concentrations, bacteriological contamination, etc.). Much of the secondary beneficial use of reservoirs occurs in embayments (viz. marinas, recreation areas, parks and beaches, residential development, etc.). Typically embayments comprise less than 20 percent of the surface area of a reservoir, but they often receive 50 percent or more of the water-oriented recreational use of the reservoir. This intensive recreational use creates a potential for adverse use impacts if poor water quality and aquatic conditions exist in an embayment.
Hurd, Michael; van Rooij, Maarten; Winter, Joachim
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.
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.
Significant economic benefits can be derived from the application f reservoir management. The key elements in economical reservoir management are the efficient use of available resources and optimization of reservoir exploitation through a multidisciplined approach. This paper describes various aspects of and approaches to reservoir management and provides case histories that support the findings
Scholtens, Bert; Wang, L
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
Boswijk, H.P.; Hommes, C.H.; Manzan, S.
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
Burda, Michael C.; Severgnini, Battista
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...
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
Sauer, M.; Sautner, Z.
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
Maria Elena Nenni
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.
Truong Dong Loc, [No Value; Lanjouw, Ger; Lensink, Robert
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
Dong Loc, T.; Lanjouw, G.; Lensink, B.W.
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
Parker, George O.
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)
Prat-Ortega, G.; Savel'ev, S. E.
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.
J.C. Wagenaar (Joris); L.G. Kroon (Leo); M.E. Schmidt (Marie)
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
K. Boer-Sorban (Katalin); A. de Bruin (Arie); U. Kaymak (Uzay)
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
van Zundert, J.; Driessen, Joost
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
Mohamed Riad Remita
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.
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
... 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...
M.Vasugi; Prof R.Jayaraman
This paper deals with solar powered stand alone inverter which converts the variable dc output of a photovoltaic solar panel into ac that can be fed to loads. Stand alone inverters are used in systems where the inverter get its energy from batteries charged by photo voltaic arrays. A charge controller limits the rate at which electric current is added to or drawn from electric batteries. This charge discharge controller is needed to prevent the battery from being overcharged o...
Eric M. Pfeifer; Jeffrey A. Hicke; Arjan J.H. Meddens
Bark beetle epidemics result in tree mortality across millions of hectares in North America. However, few studies have quantified impacts on carbon (C) cycling. In this study, we quantified the immediate response and subsequent trajectories of stand-level aboveground tree C stocks and fluxes using field measurements and modeling for a location in central Idaho, USA...
James E. Smith; Linda S. Heath
Our approach is based on a collection of models that convert or augment the USDA Forest Inventory and Analysis program survey data to estimate all forest carbon component stocks, including live and standing dead tree aboveground and belowground biomass, forest floor (litter), down deadwood, and soil organic carbon, for each inventory plot. The data, which include...
Full Text Available Better information regarding the spatial variability of height, Diameter at Breast Height (DBH and stocking could improve inventory estimates at the operational Planning Unit since these parameters are used extensively in allometric equations, including stem volume, biomass and carbon calculations. In this study, the influence of stand stocking on height and DBH of two even aged radiata pine (Pinus radiata D. Don stands were investigated using airborne Light Detection and Ranging (LiDAR data at a study site in New South Wales, Australia. Both stands were characterized by irregular stocking due to patchy establishment and self-thinning in the absence of any silvicultural thinning events. For the purpose of this study, a total of 34 plots from a 34 year old site and 43 plots from a nine year old site were established, from which a total of 447 trees were sampled. Within these plots, DBH and height measurements were measured and their relationships with stocking were evaluated. LiDAR was used for height estimation as well as stem counts in fixed plots (stocking. The results showed a significant relationship between stem DBH and stocking. At both locations, trees with larger diameters were found on lower stocking sites. Height values were also significantly correlated with stocking, with taller trees associated with high stocking. These results were further verified of additional tree samples, with independent field surveys for DBH and LiDAR-derived metrics for height analysis. This study confirmed the relationship between P. radiata tree heights and stem diameter with stocking and demonstrated the capacity of LiDAR to capture sub-compartment variation in these tree-level attributes.
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.
Robert W. Sassaman; James W. Barrett; Justin G. Smith
Present net worth values earned by investments in precommercial thinning of stagnated ponderosa pine sapling stands are reported for three stocking levels. Thirteen timber management regimes are ranked by their returns from timber only, and 22 regimes are ranked according to their returns from timber and forage, with and without the allowable cut effect.
Justin L. Pszwaro; Anthony W. D' Amato; Thomas E. Burk; Matthew B. Russell; Brian J. Palik; Terry F. Strong
Red maple (Acer rubrum L.), historically a common but not abundant tree species in North America, has increased in abundance throughout its range over the last several decades; however, it has received little attention in growth and yield studies. The objectives of this study were to (i) evaluate the effects of stocking level and stand density on...
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
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.
Full Text Available This research conducted in Eucalyptus saligna Sm. stands, between 2 and 7 years of age, in the region of Guaíba - RS, had as objective: to estimate the nutrients stock in the biomass. On the basis of the forest inventory, trees of medium diameter were collected and fractionated in leaf, branch, bark, wood and root. The accumulated litter was evaluated with sampling units of 1 m2. Samples of arboreal components and litter were collected to estimate the dry matter and nutritional content. Nutrients stock was obtained through the product between the average biomass of each component and the average concentration of nutrients. For the average of stands, the stock of nutrients showed the following order of accumulation, for biomass components: wood > root > leaf > bark > branch; and for nutrients: Ca > N > K > Mg > P.
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.
Li, Xiaoqiong; Ye, Duo; Liang, Hongwen; Zhu, Hongguang; Qin, Lin; Zhu, Yuling; Wen, Yuanguang
Plantations play an important role in carbon sequestration and the global carbon cycle. However, there is a dilemma in that most plantations are managed on short rotations, and the carbon sequestration capacities of these short-rotation plantations remain understudied. Eucalyptus has been widely planted in the tropics and subtropics due to its rapid growth, high adaptability, and large economic return. Eucalyptus plantations are primarily planted in successive rotations with a short rotation length of 6~8 years. In order to estimate the carbon-stock potential of eucalyptus plantations over successive rotations, we chose a first rotation (FR) and a second rotation (SR) stand and monitored the carbon stock dynamics over a full rotation from 1998 to 2005. Our results showed that carbon stock in eucalyptus trees (TC) did not significantly differ between rotations, while understory vegetation (UC) and soil organic matter (SOC) stored less carbon in the SR (1.01 vs. 2.76 Mg.ha(-1) and 70.68 vs. 81.08 Mg. ha(-1), respectively) and forest floor carbon (FFC) conversely stored more (2.80 vs. 2.34 Mg. ha(-1)). The lower UC and SOC stocks in the SR stand resulted in 1.13 times lower overall ecosystem carbon stock. Mineral soils and overstory trees were the two dominant carbon pools in eucalyptus plantations, accounting for 73.77%~75.06% and 20.50%~22.39%, respectively, of the ecosystem carbon pool. However, the relative contribution (to the ecosystem pool) of FFC stocks increased 1.38 times and that of UC decreased 2.30 times in the SR versus FR stand. These carbon pool changes over successive rotations were attributed to intensive successive rotation regimes of eucalyptus plantations. Our eight year study suggests that for the sustainable development of short-rotation plantations, a sound silvicultural strategy is required to achieve the best combination of high wood yield and carbon stock potential.
Full Text Available Plantations play an important role in carbon sequestration and the global carbon cycle. However, there is a dilemma in that most plantations are managed on short rotations, and the carbon sequestration capacities of these short-rotation plantations remain understudied. Eucalyptus has been widely planted in the tropics and subtropics due to its rapid growth, high adaptability, and large economic return. Eucalyptus plantations are primarily planted in successive rotations with a short rotation length of 6~8 years. In order to estimate the carbon-stock potential of eucalyptus plantations over successive rotations, we chose a first rotation (FR and a second rotation (SR stand and monitored the carbon stock dynamics over a full rotation from 1998 to 2005. Our results showed that carbon stock in eucalyptus trees (TC did not significantly differ between rotations, while understory vegetation (UC and soil organic matter (SOC stored less carbon in the SR (1.01 vs. 2.76 Mg.ha(-1 and 70.68 vs. 81.08 Mg. ha(-1, respectively and forest floor carbon (FFC conversely stored more (2.80 vs. 2.34 Mg. ha(-1. The lower UC and SOC stocks in the SR stand resulted in 1.13 times lower overall ecosystem carbon stock. Mineral soils and overstory trees were the two dominant carbon pools in eucalyptus plantations, accounting for 73.77%~75.06% and 20.50%~22.39%, respectively, of the ecosystem carbon pool. However, the relative contribution (to the ecosystem pool of FFC stocks increased 1.38 times and that of UC decreased 2.30 times in the SR versus FR stand. These carbon pool changes over successive rotations were attributed to intensive successive rotation regimes of eucalyptus plantations. Our eight year study suggests that for the sustainable development of short-rotation plantations, a sound silvicultural strategy is required to achieve the best combination of high wood yield and carbon stock potential.
Beco, S.; Maraschini, A.; Pacini, F.; Biran, O.
The support for complex services delivery is becoming a key point in current internet technology. Current trends in internet applications are characterized by on demand delivery of ever growing amounts of content. The future internet of services will have to deliver content intensive applications to users with quality of service and security guarantees. This paper describes the Reservoir project and the challenge of a reliable and effective delivery of services as utilities in a commercial scenario. It starts by analyzing the needs of a future infrastructure provider and introducing the key concept of a service oriented architecture that combines virtualisation-aware grid with grid-aware virtualisation, while being driven by business service management. This article will then focus on the benefits and the innovations derived from the Reservoir approach. Eventually, a high level view of Reservoir general architecture is illustrated.
Christensen, Max la Cour
The subject of this thesis is the development, application and study of novel multilevel methods for the acceleration and improvement of reservoir simulation techniques. The motivation for addressing this topic is a need for more accurate predictions of porous media flow and the ability to carry...... Full Approximation Scheme) • Variational (Galerkin) upscaling • Linear solvers and preconditioners First, a nonlinear multigrid scheme in the form of the Full Approximation Scheme (FAS) is implemented and studied for a 3D three-phase compressible rock/fluids immiscible reservoir simulator...... is extended to include a hybrid strategy, where FAS is combined with Newton’s method to construct a multilevel nonlinear preconditioner. This method demonstrates high efficiency and robustness. Second, an improved IMPES formulated reservoir simulator is implemented using a novel variational upscaling approach...
Hegge, O.; Hesthagen, T.; Skurdal, J.
Resource utilization and growth of brown trout were studied in four deep (mean depths 16.2 - 37.5 m) Norwegian hydroelectric reservoirs by benthic and pelagic gillnet sampling. In all the reservoirs supplementary stockings are carried out. The brown trout were spatially segregated according to size as the habitat use of small individuals (< 180-220 mm) was completely restricted to benthic habitats, whereas larger individuals mainly utilized the upper strata of pelagic waters. It is argued that the pelagic habitat is the more rewarding, and that small-sized brown trout are forced into the less favourable benthic habitat through social interactions with larger specimens. This is supported by an increase in growth of brown trout from their third to fifth year of life, which seems to be related to the shift from benthic to pelagic behaviour. It is also argued that the conditions for small-sized brown trout may be a bottleneck in the capacity to produce brown trout in hydroelectric reservoirs with limited benthic feeding conditions, despite ample access to food in pelagic habitats. When evaluating the possibility of increasing the yield of brown trout through supplementary stockings, it is therefore important to consider food and growth conditions for all age and size groups of brown trout. In reservoirs with poor benthic feeding conditions it may be necessary to stock with brown trout of sizes that are large enough to utilize pelagic habitat, to avoid the limiting benthic living stage. (Author)
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...
Full text: The radiocarbon dating technique depends essentially on the assumption that atmospheric carbon dioxide containing the cosmogenic radioisotope 14 C enters into a state of equilibrium with all living material (plants and animals) as part of the terrestrial carbon cycle. Terrestrial reservoir effects occur when the atmospheric 14 C signal is diluted by local effects where systems depleted in 14 C mix with systems that are in equilibrium with the atmosphere. Naturally, this can occur with plant material growing close to an active volcano adding very old CO 2 to the atmosphere (the original 14 C has completely decayed). It can also occur in highly industrialised areas where fossil fuel derived CO 2 dilutes the atmospheric signal. A terrestrial reservoir effect can occur in the case of fresh water shells living in rivers or lakes where there is an input of ground water from springs or a raising of the water table. Soluble bicarbonate derived from the dissolution of very old limestone produces a 14 C dilution effect. Land snail shells and stream carbonate depositions (tufas and travertines) can be affected by a similar mechanism. Alternatively, in specific cases, these reservoir effects may not occur. This means that general interpretations assuming quantitative values for these terrestrial effects are not possible. Each microenvironment associated with samples being analysed needs to be evaluated independently. Similarly, the marine environment produces reservoir effects. With respect to marine shells and corals, the water depth at which carbonate growth occurs can significantly affect quantitative 14 C dilution, especially in areas where very old water is uplifted, mixing with top layers of water that undergo significant exchange with atmospheric CO 2 . Hence, generalisations with respect to the marine reservoir effect also pose problems. These can be exacerbated by the mixing of sea water with either terrestrial water in estuaries, or ground water where
Loubota Panzou, GJ.
Full Text Available Biomass and carbon stocks of tropical African forests. A review. Introduction. Quantifying the biomass and carbon stocks contained in tropical forests has become an international priority for the implementation of the REDD+ mechanism. Forest biomass is estimated at three successive levels: the tree, the stand and the region level. This paper reviews the state of the art regarding the estimation of biomass and carbon stocks in tropical African forests. Literature. This review highlights the fact that very few allometric equations, equations used for estimating the biomass of the tree using non-destructive measurements (diameter, height, have been established for tropical African forests. At the stand level, the review highlights the spatial and temporal variations in biomass between forest types in Central and Eastern Africa. While biomass recovery after a disturbance (logging, for instance is rather quick, a great deal of uncertainty still remains regarding the spatial variation in biomass, and there is no consensus on a regional biomass map. The quality of biomass mapping in tropical Africa strongly depends on the type of remotely-sensed data being used (optical, RADAR or LIDAR, and the allometric equation used to convert forest inventory data into biomass. Conclusions. Based on the lack of precision of the available allometric equations and forest inventory data and the large spatial scale involved, many uncertainties persist in relation to the estimation of the biomass and carbon stocks contained in African tropical forests.
Grüneberg, Erik; Ziche, Daniel; Wellbrock, Nicole
The National Forest Soil Inventory (NFSI) provides the Greenhouse Gas Reporting in Germany with a quantitative assessment of organic carbon (C) stocks and changes in forest soils. Carbon stocks of the organic layer and the mineral topsoil (30 cm) were estimated on the basis of ca. 1.800 plots sampled from 1987 to 1992 and resampled from 2006 to 2008 on a nationwide grid of 8 × 8 km. Organic layer C stock estimates were attributed to surveyed forest stands and CORINE land cover data. Mineral soil C stock estimates were linked with the distribution of dominant soil types according to the Soil Map of Germany (1 : 1 000 000) and subsequently related to the forest area. It appears that the C pool of the organic layer was largely depending on tree species and parent material, whereas the C pool of the mineral soil varied among soil groups. We identified the organic layer C pool as stable although C was significantly sequestered under coniferous forest at lowland sites. The mineral soils, however, sequestered 0.41 Mg C ha(-1) yr(-1) . Carbon pool changes were supposed to depend on stand age and forest transformation as well as an enhanced biomass input. Carbon stock changes were clearly attributed to parent material and soil groups as sandy soils sequestered higher amounts of C, whereas clayey and calcareous soils showed small gains and in some cases even losses of soil C. We further showed that the largest part of the overall sample variance was not explained by fine-earth stock variances, rather by the C concentrations variance. The applied uncertainty analyses in this study link the variability of strata with measurement errors. In accordance to other studies for Central Europe, the results showed that the applied method enabled a reliable nationwide quantification of the soil C pool development for a certain period. © 2014 The Authors. Global Change Biology Published by John Wiley & Sons Ltd.
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....
Malkiel, B G
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.
P. K. Pande
Initial drilling of wells on a uniform spacing, without regard to reservoir performance and characterization, must become a process of the past. Such efforts do not optimize reservoir development as they fail to account for the complex nature of reservoir heterogeneities present in many low permeability reservoirs, and carbonate reservoirs in particular. These reservoirs are typically characterized by: o Large, discontinuous pay intervals o Vertical and lateral changes in reservoir properties o Low reservoir energy o High residual oil saturation o Low recovery efficiency
Brandt, Anders; Swenning, Joar
Physical geography, hydrology, geomorphology, sediment transport, erosion, sedimentation, dams, reservoirs......Physical geography, hydrology, geomorphology, sediment transport, erosion, sedimentation, dams, reservoirs...
Onnela, Jukka-Pekka; Töyli, Juuso; Kaski, Kimmo
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.
The separation of isotopes is accomplished by scattering a beam of particles from a standing electromagnetic wave. The particles may consist of either atoms or molecules, the beam having in either case a desired isotope and at least one other. The particle beam is directed so as to impinge on the standing electromagnetic wave, which may be a light wave. The particles, that is, the atomic or molecular quantum-mechanical waves, see basically a diffraction grating corresponding to the troughs and peaks of the electromagnetic wave. The frequency of the standing electromagnetic wave substantially corresponds to an internal energy level-transition of the desired isotope. Accordingly, the desired isotope is spatially separated by being scattered or diffracted. (author)
Full Text Available Transition from forest to rubber (Hevea brasiliensis Muell. Arg. plantation has occurred in tropical China for decades. Rubber has been planted on 1 million ha to provide raw materials to the rubber industry. The role of various-aged rubber plantations in carbon (C sequestration remains unclear. The biomass C accumulation including latex C and C distribution in soil of five different-aged stands (7, 13, 19, 25 and 47 years old were examined. The total biomass C stock (TBC and total net primary productivity (NPPtotal, whether with or without latex C, had a close quadratic relationship with stand age. Regardless of stand age, around 68% of the C was stored in aboveground biomass, and NPPlatex contributed to approximately 18% of C sequestration. Soil organic carbon stock in the 100-cm depth remained relatively stable, but it lost about 16.8 Mg ha−1 with stand age. The total ecosystem C stock (TEC across stands averaged 159.6, 174.4, 229.6, 238.1 and 291.9 Mg ha−1, respectively, of which more than 45% was stored in the soil. However, biomass would become the major C sink rather than soil over a maximal rubber life expectancy. Regression analysis showed that TEC for rubber plantation at 22 years is comparable to a baseline of 230.4 Mg ha−1 for tropical forest in China, and would reach the maximum value at around 54 years. Therefore, rubber plantation can be considered as alternative land use without affecting net forest ecosystem C storage. In addition to the potential C gains, a full set of ecosystem and economic properties have to be quantified in order to assess the trade-offs associated with forest-to-rubber transition.
Kirca, V.S. Ozgur; Sumer, B. Mutlu; Fredsøe, Jørgen
This paper summarizes the results of an experimental study which deals with the residual liquefaction of seabed under standing waves. It is shown that the seabed liquefaction under standing waves, although qualitatively similar, exhibits features different from that caused by progressive waves....... The experimental results show that the buildup of pore-water pressure and the resulting liquefaction first starts at the nodal section and spreads towards the antinodal section. The number of waves to cause liquefaction at the nodal section appears to be equal to that experienced in progressive waves for the same...
Laio, Francesco; Ridolfi, Luca; D’Odorico, Paolo
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)
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
Gao, Hai-Ling; Li, Jiang-Cheng; Guo, Wei; Mei, Dong-Cheng
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.
Mateus, M. C.; Tullos, D. D.
In addition to long-standing uncertainties related to variable inflows and market price of power, reservoir operators face a number of new uncertainties related to hydrologic nonstationarity, changing environmental regulations, and rapidly growing water and energy demands. This study investigates the impact, sensitivity, and uncertainty of changing hydrology on hydrosystem performance across different hydrogeologic settings. We evaluate the performance of reservoirs in the Santiam River basin, including a case study in the North Santiam Basin, with high permeability and extensive groundwater storage, and the South Santiam Basin, with low permeability, little groundwater storage and rapid runoff response. The modeling objective is to address the following study questions: (1) for the two hydrologic regimes, how does the flood management, water supply, and environmental performance of current reservoir operations change under future 2.5, 50 and 97.5 percentile streamflow projections; and (2) how much change in inflow is required to initiate a failure to meet downstream minimum or maximum flows in the future. We couple global climate model results with a rainfall-runoff model and a formal Bayesian uncertainty analysis to simulate future inflow hydrographs as inputs to a reservoir operations model. To evaluate reservoir performance under a changing climate, we calculate reservoir refill reliability, changes in flood frequency, and reservoir time and volumetric reliability of meeting minimum spring and summer flow target. Reservoir performance under future hydrology appears to vary with hydrogeology. We find higher sensitivity to floods for the North Santiam Basin and higher sensitivity to minimum flow targets for the South Santiam Basin. Higher uncertainty is related with basins with a more complex hydrologeology. Results from model simulations contribute to understanding of the reliability and vulnerability of reservoirs to a changing climate.
Contamination is anathema in reservoir production. Some of the contamination is a result of welding and some appears after welding but existed before. Oxygen was documented to be a major contributor to discoloration in welding. This study demonstrates that it can be controlled and that some of the informal cleaning processes contribute to contamination.
Christensen, Max la Cour; Eskildsen, Klaus Langgren; Engsig-Karup, Allan Peter
efficiency for a black-oil model. Furthermore, the use of the FAS method enables a significant reduction in memory usage compared with conventional techniques, which suggests new possibilities for improved large-scale reservoir simulation and numerical efficiency. Last, nonlinear multilevel preconditioning...
Sheilla Nyasha; Nicholas M. Odhiambo
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...
Wilson Yaputra Yakup
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.
... Reservoir, equalizing. An air reservoir connected with and adding volume to the top portion of the equalizing piston chamber of the automatic brake valve, to provide uniform service reductions in brake pipe...
Taris, T.; Houtman, I.L.D.; Schaufeli, W.
Dit artikel geeft een overzicht van de stand van zaken in het onderzoek naar burnout. Burnout is een syndroom van extreme vermoeidheid (uitputting), afstand nemen van het werk (distantie) en weinig vertrouwen in het eigen kunnen (verminderde competentie), waarbij de oorzaken voor deze aspecten
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...
Full Text Available The aim of this study was to determine the elastic stockings effect on healthy workers (HW who are exposed to a prolonged hydrostatic pressure overload for professional reasons. The cohort was composed by 20 HW who voluntarily underwent a water plethysmography test before and after eight hour of standing up in an operating room, wearing elastic stockings. After 8 h of gravity exposure, we demonstrated the absence of leg volume increase in case of elastic stockings use. In the morning measurement we found that the lower limb volume was 1967.5 mL±224, while in the evening it was 1962.5 mL±227 (P<0.0828. The decreased volume is significantly correlated with the time that was spent under gravity forces for working purpose wearing elastic stockings (R2=0.99, P<0.0001. Our experiment demonstrates that elastic stockings may effectively counteract the increased leg volume over time in workers who are exposed to prolonged gravitational gradient. Further longitudinal studies are needed to determine if the above effect could correct one of the major risk factors for the development of chronic venous insufficiency.
ORDOÑEZ, A; PEÑUELA, G; IDROBO, E. A; MEDINA, C. E
Large amounts of oil reserves are contained in naturally fractured reservoirs. Most of these hydrocarbon volumes have been left behind because of the poor knowledge and/or description methodology of those reservoirs. This lack of knowledge has lead to the nonexistence of good quantitative models for this complicated type of reservoirs. The complexity of naturally fractured reservoirs causes the need for integration of all existing information at all scales (drilling, well logging, seismic, we...
Arango, Santiago; Sun, Shuyu; Hoteit, Ibrahim; Katterbauer, Klemens
Systems and methods for reservoir resistivity characterization are provided, in various aspects, an integrated framework for the estimation of Archie's parameters for a strongly heterogeneous reservoir utilizing the dynamics of the reservoir are provided. The framework can encompass a Bayesian estimation/inversion method for estimating the reservoir parameters, integrating production and time lapse formation conductivity data to achieve a better understanding of the subsurface rock conductivity properties and hence improve water saturation imaging.
Systems and methods for reservoir resistivity characterization are provided, in various aspects, an integrated framework for the estimation of Archie\\'s parameters for a strongly heterogeneous reservoir utilizing the dynamics of the reservoir are provided. The framework can encompass a Bayesian estimation/inversion method for estimating the reservoir parameters, integrating production and time lapse formation conductivity data to achieve a better understanding of the subsurface rock conductivity properties and hence improve water saturation imaging.
Rafaella De Angeli Curto
Full Text Available The objective of this study was to characterize of an unmanaged stand of Araucaria angustifolia and to development of models to quantify the wood potential, aiming to support the development of forest management plans in stands with similar conditions. The work was developed into a stand established in 1946, in National Forest of Açungui, in Campo Largo County, Paraná State, Brazil. There was only one thinning in the stand, between 1970 and 1980. From the frequency of individuals in each diametric class, it was observed the condition of stagnation and competition with cohort in the beginning of class distribution. With the application of the probability density function of Weibull-3P, Trorey model, and the 5th polynomial by diameter class, it was possible to confirm the stock estimative of timber volume of the stand. This analysis indicated that the stand presents average annual wood production smaller than the species potential. So it is recommended the thinning to promote growth of remnant trees. With the probability density function of Weibull-3p, that was selected, it is possible to project the diametric distribution of the stand, when analyzed complementarily with growth diameter information, if the stand remains unmanaged. Certainly, the optimum potential of timber production could have been manifested if the stand were managed during the cycle planed.
Nyirambangutse, Brigitte; Zibera, Etienne; Uwizeye, Félicien K.; Nsabimana, Donat; Bizuru, Elias; Pleijel, Håkan; Uddling, Johan; Wallin, Göran
As a result of different types of disturbance, forests are a mixture of stands at different stages of ecological succession. Successional stage is likely to influence forest productivity and carbon storage, linking the degree of forest disturbance to the global carbon cycle and climate. Although tropical montane forests are an important part of tropical forest ecosystems (ca. 8 %, elevation > 1000 m a.s.l.), there are still significant knowledge gaps regarding the carbon dynamics and stocks of these forests, and how these differ between early (ES) and late successional (LS) stages. This study examines the carbon (C) stock, relative growth rate (RGR) and net primary production (NPP) of ES and LS forest stands in an Afromontane tropical rainforest using data from inventories of quantitatively important ecosystem compartments in fifteen 0.5 ha plots in Nyungwe National Park in Rwanda. The total C stock was 35 % larger in LS compared to ES plots due to significantly larger above-ground biomass (AGB; 185 and 76 Mg C ha-1 in LS and ES plots), while the soil and root C stock (down to 45 cm depth in the mineral soil) did not significantly differ between the two successional stages (178 and 204 Mg C ha-1 in LS and ES plots). The main reasons for the difference in AGB were that ES trees had significantly lower stature and wood density compared to LS trees. However, ES and LS stands had similar total NPP (canopy, wood and roots of all plots ˜ 9.4 Mg C ha-1) due to counterbalancing effects of differences in AGB (higher in LS stands) and RGR (higher in ES stands). The AGB in the LS plots was considerably higher than the average value reported for old-growth tropical montane forest of south-east Asia and Central and South America at similar elevations and temperatures, and of the same magnitude as in tropical lowland forest of these regions. The results of this study highlight the importance of accounting for disturbance regimes and differences in wood density and allometry of
John T. Barkoulas; Christopher F. Baum; Nickolaos Travlos
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...
@@ 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.
Ambos, Tina C.; Nell, Phillip Christopher; Pedersen, Torben
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....
Reis, Luciana; Meurer, Roberto; Da Silva, Sergio
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...
Phan, Van Hang
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...
Morozovsky, Alexander; Narasimhan, Rajan; Kholodenko, Yuri
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...
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.
The workshop contains presentations in the following areas: (1) reservoir engineering research; (2) field development; (3) vapor-dominated systems; (4) the Geysers thermal area; (5) well test analysis; (6) production engineering; (7) reservoir evaluation; (8) geochemistry and injection; (9) numerical simulation; and (10) reservoir physics. (ACR)
Ter-Mikaelian, Michael T; Colombo, Stephen J; Chen, Jiaxin
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.
Nurhandoko, Bagus Endar B., E-mail: firstname.lastname@example.org, E-mail: email@example.com [Wave Inversion and Subsurface Fluid Imaging Research Laboratory (WISFIR), Basic Science Center A 4" t" hfloor, Physics Dept., FMIPA, Institut Teknologi Bandung (Indonesia); Rock Fluid Imaging Lab., Bandung (Indonesia); Susilowati, E-mail: firstname.lastname@example.org, E-mail: email@example.com [Rock Fluid Imaging Lab., Bandung (Indonesia)
Amplitude various offset is widely used in petroleum exploration as well as in petroleum development field. Generally, phenomenon of amplitude in various angles assumes reservoir’s layer is quite thick. It also means that the wave is assumed as a very high frequency. But, in natural condition, the seismic wave is band limited and has quite low frequency. Therefore, topic about amplitude various angles in thin layer reservoir as well as low frequency assumption is important to be considered. Thin layer reservoir means the thickness of reservoir is about or less than quarter of wavelength. In this paper, I studied about the reflection phenomena in elastic wave which considering interference from thin layer reservoir and transmission wave. I applied Zoeppritz equation for modeling reflected wave of top reservoir, reflected wave of bottom reservoir, and also transmission elastic wave of reservoir. Results show that the phenomena of AVA in thin layer reservoir are frequency dependent. Thin layer reservoir causes interference between reflected wave of top reservoir and reflected wave of bottom reservoir. These phenomena are frequently neglected, however, in real practices. Even though, the impact of inattention in interference phenomena caused by thin layer in AVA may cause inaccurate reservoir characterization. The relation between classes of AVA reservoir and reservoir’s character are different when effect of ones in thin reservoir and ones in thick reservoir are compared. In this paper, I present some AVA phenomena including its cross plot in various thin reservoir types based on some rock physics data of Indonesia.
thfloor, Physics Dept., FMIPA, Institut Teknologi Bandung (Indonesia); Rock Fluid Imaging Lab., Bandung (Indonesia))" data-affiliation=" (Wave Inversion and Subsurface Fluid Imaging Research Laboratory (WISFIR), Basic Science Center A 4thfloor, Physics Dept., FMIPA, Institut Teknologi Bandung (Indonesia); Rock Fluid Imaging Lab., Bandung (Indonesia))" >Nurhandoko, Bagus Endar B.; Susilowati
Amplitude various offset is widely used in petroleum exploration as well as in petroleum development field. Generally, phenomenon of amplitude in various angles assumes reservoir’s layer is quite thick. It also means that the wave is assumed as a very high frequency. But, in natural condition, the seismic wave is band limited and has quite low frequency. Therefore, topic about amplitude various angles in thin layer reservoir as well as low frequency assumption is important to be considered. Thin layer reservoir means the thickness of reservoir is about or less than quarter of wavelength. In this paper, I studied about the reflection phenomena in elastic wave which considering interference from thin layer reservoir and transmission wave. I applied Zoeppritz equation for modeling reflected wave of top reservoir, reflected wave of bottom reservoir, and also transmission elastic wave of reservoir. Results show that the phenomena of AVA in thin layer reservoir are frequency dependent. Thin layer reservoir causes interference between reflected wave of top reservoir and reflected wave of bottom reservoir. These phenomena are frequently neglected, however, in real practices. Even though, the impact of inattention in interference phenomena caused by thin layer in AVA may cause inaccurate reservoir characterization. The relation between classes of AVA reservoir and reservoir’s character are different when effect of ones in thin reservoir and ones in thick reservoir are compared. In this paper, I present some AVA phenomena including its cross plot in various thin reservoir types based on some rock physics data of Indonesia
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.
Fazioli, R.; Antonioli, B.; Beccarello, M.; Da Rin, B.
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
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.
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 ...
Cabrera Serrenho, André; Allwood, Julian M
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.
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Full Text Available In a changing ocean there is a critical need to understand global biogeochemical cycling, particularly regarding carbon. We have made strides in understanding upper ocean dynamics, but the deep ocean interior (> 1000 m is still largely unknown, despite representing the overwhelming majority of Earth's biosphere. Here we present a method for estimating deep-pelagic zooplankton biomass on an ocean-basin scale. We have made several new discoveries about the Atlantic, which likely apply to the world ocean. First, multivariate analysis showed that depth and Chl were the basic factors affecting the wet biomass of the main plankton groups. Wet biomass of all major groups was significantly correlated with Chl. Second, zooplankton biomass in the upper bathypelagic domain is higher than expected. Third, the majority of this biomass comprises macroplanktonic shrimps, which have been historically underestimated. These findings, coupled with recent findings of increased global deep-pelagic fish biomass, suggest that the contribution of the deep-ocean pelagic fauna for biogeochemical cycles may be more important than previously thought.
Madhu, N.V.; Jyothibabu, R; Balachandran, K.K.; Honey, U.K.; Martin, G.D.; Vijay, J.G.; Shiyas, C.A.; Gupta, G.V.M.; Achuthankutty, C.T.
and post monsoon seasons, but became low during premonsoon season (<5). Hence, it is suggested that during the periods of fresh water dominance, the trophic food web of Cochin estuarine system is characterized by substantial amount of unconsumed carbon...
Gopalakrishnan, T.C.; Nair, K.K.C.; Sankaranarayanan, V.N.
An intensive sampling was carried out in the oil plume area between lat. 5 degrees 56' to 6 degrees 42'N and long. 93 degrees 10' to 94 degrees 30'E. For a comparative study, samples were also collected along the international oil tanker route along...
LokaBharathi, P.A.; Nair, S.; DeSouza, M.J.B.D.; Chandramohan, D.
designated as section 2 they were one order higher and ranged from 10 sup(9-10) L sup(-1). The percentage of viability in the region was high corresponding to the generally high chlorophyll and primary productivity encountered in the eastern Agulhas bank...
S. H. Lee
Full Text Available Small phytoplankton are anticipated to be more important in a recently warming and freshening ocean condition. However, little information on the contribution of small phytoplankton to overall phytoplankton production is currently available in the Amundsen Sea. To determine the contributions of small phytoplankton to total biomass and primary production, carbon and nitrogen uptake rates of total and small phytoplankton were obtained from 12 productivity stations in the Amundsen Sea. The daily carbon uptake rates of total phytoplankton averaged in this study were 0.42 g C m−2 d−1 (SD = ± 0.30 g C m−2 d−1 and 0.84 g C m−2 d−1 (SD = ± 0.18 g C m−2 d−1 for non-polynya and polynya regions, respectively, whereas the daily total nitrogen (nitrate and ammonium uptake rates were 0.12 g N m−2 d−1 (SD = ± 0.09 g N m−2 d−1 and 0.21 g N m−2 d−1 (SD = ± 0.11 g N m−2 d−1, respectively, for non-polynya and polynya regions, all of which were within the ranges reported previously. Small phytoplankton contributed 26.9 and 27.7 % to the total carbon and nitrogen uptake rates of phytoplankton in this study, respectively, which were relatively higher than the chlorophyll a contribution (19.4 % of small phytoplankton. For a comparison of different regions, the contributions for chlorophyll a concentration and primary production of small phytoplankton averaged from all the non-polynya stations were 42.4 and 50.8 %, which were significantly higher than those (7.9 and 14.9 %, respectively in the polynya region. A strong negative correlation (r2 = 0. 790, p<0. 05 was found between the contributions of small phytoplankton and the total daily primary production of phytoplankton in this study. This finding implies that daily primary production decreases as small phytoplankton contribution increases, which is mainly due to the lower carbon uptake rate of small phytoplankton than large phytoplankton.
Goswami, S.C.; Sarupria, J.S.; Bhargava, R.M.S.
of Bengal, Lakshadweep (Laccadive) Sea and Andaman Sea. The zooplankton biomass values fluctuated between 0.1 to 12 ml m sup(-3) (av. = 0.664 plus or minus 1.36 ml m sup(-3)), 0.1 to 8.0 ml m sup(-3) (av. = 0.355 plus or minus 0.761 ml m sup(-3)), 0.1 to 1...
Gail Ncube; Kapingura Forget Mingiri
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...
... 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. ...
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…
Ghosh, C.; Giambona, E.; Harding, J.P.; Sezer, O.; Sirmans, C.F.
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
... 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...
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.
Nogueira, Euler Melo; Yanai, Aurora M; Fonseca, Frederico O R; Fearnside, Philip Martin
The largest carbon stock in tropical vegetation is in Brazilian Amazonia. In this ~5 million km(2) area, over 750,000 km(2) of forest and ~240,000 km(2) of nonforest vegetation types had been cleared through 2013. We estimate current carbon stocks and cumulative gross carbon loss from clearing of premodern vegetation in Brazil's 'Legal Amazonia' and 'Amazonia biome' regions. Biomass of 'premodern' vegetation (prior to major increases in disturbance beginning in the 1970s) was estimated by matching vegetation classes mapped at a scale of 1 : 250,000 and 29 biomass means from 41 published studies for vegetation types classified as forest (2317 1-ha plots) and as either nonforest or contact zones (1830 plots and subplots of varied size). Total biomass (above and below-ground, dry weight) underwent a gross reduction of 18.3% in Legal Amazonia (13.1 Pg C) and 16.7% in the Amazonia biome (11.2 Pg C) through 2013, excluding carbon loss from the effects of fragmentation, selective logging, fires, mortality induced by recent droughts and clearing of forest regrowth. In spite of the loss of carbon from clearing, large amounts of carbon were stored in stands of remaining vegetation in 2013, equivalent to 149 Mg C ha(-1) when weighted by the total area covered by each vegetation type in Legal Amazonia. Native vegetation in Legal Amazonia in 2013 originally contained 58.6 Pg C, while that in the Amazonia biome contained 56 Pg C. Emissions per unit area from clearing could potentially be larger in the future because previously cleared areas were mainly covered by vegetation with lower mean biomass than the remaining vegetation. Estimates of original biomass are essential for estimating losses to forest degradation. This study offers estimates of cumulative biomass loss, as well as estimates of premodern carbon stocks that have not been represented in recent estimates of deforestation impacts. © 2014 John Wiley & Sons Ltd.
This volume contains the Proceedings of the Fourth International Reservoir Characterization Technical Conference held March 2-4, 1997 in Houston, Texas. The theme for the conference was Advances in Reservoir Characterization for Effective Reservoir Management. On March 2, 1997, the DOE Class Workshop kicked off with tutorials by Dr. Steve Begg (BP Exploration) and Dr. Ganesh Thakur (Chevron). Tutorial presentations are not included in these Proceedings but may be available from the authors. The conference consisted of the following topics: data acquisition; reservoir modeling; scaling reservoir properties; and managing uncertainty. Selected papers have been processed separately for inclusion in the Energy Science and Technology database.
Full Text Available Purpose. The determination and analysis of main biological characteristics of silver bream from the point of view of the formation and exploitation of its commercial stock in the Kyiv reservoir. Methodology. The work is based the results of monitoring field studies carried out on the Kyiv reservoir during 2012–2014. Ichthyological materials were collected from standard commercial gill nets with mesh sizes of 30–80 mm, which were set in different habitats and depths of the reservoir. Collection and processing of samples was carried out using conventional ichthyological methods adapted for the Dnieper reservoirs. Findings. According to the data of monitoring gill nets, silver bream population in 2014 was composed of 10 age groups. The majority of their population (70.8% in catches was composed of age-5 to age-7 fish, i.e. the number of modal classes increased due to the right wing of the older age groups. The frequency distribution of silver bream had a shape of a curve with wide, however broken (due to the reduction in age-5 fish peak and gradual decrease. Age-length properties, fatness parameters and condition factor of silver bream in the Kiev reservoir during last years remained on the stable high level indicating on favorable fattening conditions and forming the ichthyomass of this species. At the present time, silver bream of the Kyiv reservoir formed a commercial stock with such qualitative and quantitative characteristics, which allow exploiting it in the mode of traditional commercial harvest and specialized harvest of silver bream concentrations with the use of gill nets with mesh sizes of 50, 60 mm. Originality. We obtained and analyzed the new data on the current state of silver bream (Blіcca bjoerkna in Kyiv reservoir as an important element of commercial fish production. Practical Value. The results of the work allows increasing qualitative and quantitative characteristics of silver bream catches and will be used for the
M. A. Salmanov
Full Text Available Aim. It is hardly possible to predict the continued stability of the watercourse ecosystems without the study of biological characteristics and composition of organisms inhabiting them. In the last 35-40 years, environmental conditions of the Mingachevir reservoir are determined by the stationary anthropogenic pressure. It was found that such components of plankton as algae, bacteria and fungi play a leading role in the transformation and migration of pollutants. The role of the three groups of organisms is very important in maintaining the water quality by elimination of pollutants. Among the organisms inhabiting the Mingachevir Reservoir, micromycetes have not yet been studied. Therefore, the study of the species composition and seasonal dynamics, peculiarities of their growth and development in the environment with the presence of some of the pollutants should be considered to date.Methods. In order to determine the role of micromycetes-migrants in the mineralization of organic substrates, as an active participant of self-purification process, we used water samples from the bottom sediments as well as decaying and skeletonized stalks of cane, reeds, algae, macrophytes, exuvia of insects and fish remains submerged in water.Findings. For the first time, we obtained the data on the quality and quantity of microscopic mycelial fungi in freshwater bodies on the example of the Mingachevir water reservoir; we also studied the possibilities for oxygenating the autochthonous organic matter of allochthonous origin with micromycetes-migrants.Conclusions. It was found that the seasonal development of micromycetes-migrants within the Mingachevir reservoir is characterized by an increase in the number of species in the summer and a gradual reduction in species diversity in the fall.
Water chemistry and primary productivity of a reactor cooling reservoir have been studied for 8 years. Initially the primary productivity increased sixfold, and the dissolved solids doubled. The dissolved-solids increase appears to have been caused by additions of makeup water from the Savannah River and by evaporative concentration during the cooling process. As the dissolved-solids concentrations and the conductivity of makeup water leveled off, the primary productivity stabilized. Major cation and anion concentrations generally followed total dissolved solids through the increase and plateau; however, silica concentrations declined steadily during the initial period of increased plankton productivity. Standing crops of net seston and centrifuge seston did not increase during this initial period. The collective data show the effects of thermal input to a cooling reservoir, illustrate the need for limnological studies before reactor siting, and suggest the possibility of using makeup-water additions to power reactor cooling basins as a reservoir management tool
Lin, Chung-Liang; Chen, Chin-Shyan; Liu, Tsai-Ching
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.
Domingues, Carolina Davila; da Silva, Lucia Helena Sampaio; Rangel, Luciana Machado; de Magalhães, Leonardo; de Melo Rocha, Adriana; Lobão, Lúcia Meirelles; Paiva, Rafael; Roland, Fábio; Sarmento, Hugo
Element cycling in aquatic systems is driven chiefly by planktonic processes, and the structure of the planktonic food web determines the efficiency of carbon transfer through trophic levels. However, few studies have comprehensively evaluated all planktonic food-web components in tropical regions. The aim of this study was to unravel the top-down controls (metazooplankton community structure), bottom-up controls (resource availability), and hydrologic (water residence time) and physical (temperature) variables that affect different components of the microbial food web (MFW) carbon stock in tropical reservoirs, through structural equation models (SEM). We conducted a field study in four deep Brazilian reservoirs (Balbina, Tucuruí, Três Marias, and Funil) with different trophic states (oligo-, meso-, and eutrophic). We found evidence of a high contribution of the MFW (up to 50% of total planktonic carbon), especially in the less-eutrophic reservoirs (Balbina and Tucuruí). Bottom-up and top-down effects assessed through SEM indicated negative interactions between soluble reactive phosphorus and phototrophic picoplankton (PPP), dissolved inorganic nitrogen, and heterotrophic nanoflagellates (HNF). Copepods positively affected ciliates, and cladocerans positively affected heterotrophic bacteria (HB) and PPP. Higher copepod/cladoceran ratios and an indirect positive effect of copepods on HB might strengthen HB-HNF coupling. We also found low values for the degree of uncoupling (D) and a low HNF/HB ratio compared with literature data (mostly from temperate regions). This study demonstrates the importance of evaluating the whole size spectrum (including microbial compartments) of the different planktonic compartments, in order to capture the complex carbon dynamics of tropical aquatic ecosystems.
Draštík, Vladislav; Kubečka, Jan; Čech, Martin; Frouzová, Jaroslava; Říha, Milan; Jůza, Tomáš; Tušer, Michal; Jarolím, Oldřich; Prchalová, Marie; Peterka, Jiří; Vašek, Mojmír; Kratochvíl, Michal; Matěna, Josef; Mrkvička, Tomáš
Roč. 22, č. 1 (2009), s. 69-77 ISSN 0990-7440 R&D Projects: GA ČR(CZ) GA206/06/1371; GA ČR(CZ) GA206/07/1392; GA AV ČR(CZ) 1QS600170504 Institutional research plan: CEZ:AV0Z60170517 Keywords : hydroacoustics * fish biomass * diel migration * man-made lake Subject RIV: EH - Ecology, Behaviour Impact factor: 1.227, year: 2009
Draštík, Vladislav; Kubečka, Jan; Tušer, Michal; Čech, Martin; Frouzová, Jaroslava; Jarolím, Oldřich; Prchalová, Marie
Roč. 609, č. 1 (2008), s. 25-36 ISSN 0018-8158. [EIFAC Symposium on hydropower , flood control and water abstraction: implications for fish and fisheries. Mondsee, 14.06.2006-17.06.2006] R&D Projects: GA ČR(CZ) GA206/06/1371; GA ČR(CZ) GA206/02/0520; GA ČR(CZ) GA206/07/1392; GA AV ČR(CZ) 1QS600170504 Institutional research plan: CEZ:AV0Z60170517 Keywords : abundance * biomass * longitudinal gradient * vertical and horizontal distribution * cascade Subject RIV: EH - Ecology, Behaviour Impact factor: 1.449, year: 2008
Joel Walls; M.T. Taner; Naum Derzhi; Gary Mavko; Jack Dvorkin
We have developed and tested technology for a new type of direct hydrocarbon detection. The method uses inelastic rock properties to greatly enhance the sensitivity of surface seismic methods to the presence of oil and gas saturation. These methods include use of energy absorption, dispersion, and attenuation (Q) along with traditional seismic attributes like velocity, impedance, and AVO. Our approach is to combine three elements: (1) a synthesis of the latest rock physics understanding of how rock inelasticity is related to rock type, pore fluid types, and pore microstructure, (2) synthetic seismic modeling that will help identify the relative contributions of scattering and intrinsic inelasticity to apparent Q attributes, and (3) robust algorithms that extract relative wave attenuation attributes from seismic data. This project provides: (1) Additional petrophysical insight from acquired data; (2) Increased understanding of rock and fluid properties; (3) New techniques to measure reservoir properties that are not currently available; and (4) Provide tools to more accurately describe the reservoir and predict oil location and volumes. These methodologies will improve the industry's ability to predict and quantify oil and gas saturation distribution, and to apply this information through geologic models to enhance reservoir simulation. We have applied for two separate patents relating to work that was completed as part of this project.
This preliminary environmental overview report was prepared by B.C. Hydro in June 1987 and revised in July 1988 as an initial assessment of a possible 1.5 m (5 ft.) raise in the Williston Reservoir maximum normal level. The enviromental overview study and the associated engineering and property studies were undertaken to provide information for a decision on whether to initiate more detailed studies. Overview studies are based mainly on available reports, mapping and field data, supplemented by limited site reconnaissance and, in this case, input from key agencies and groups. The lack of adequate mapping of areas which could be affected by reservoir raising did not permit definitive conclusion to be reached. This mapping will be done over the next year to complete the overview assessment. This document covers the impact assessment of socio-economic factors, forestry, reservoir clearing, heritage, recreation, aquatic resources, and wilflife. Further studies in each of these areas are also included. 54 refs., 11 figs., 8 tabs.
Miranda, Leandro E.; Wigen, S. L.; Dagel, Jonah D.
Reservoirs constructed on floodplain rivers are unique because the upper reaches of the impoundment may include extensive floodplain environments. Moreover, reservoirs that experience large periodic water level fluctuations as part of their operational objectives seasonally inundate and dewater floodplains in their upper reaches, partly mimicking natural inundations of river floodplains. In four flood control reservoirs in Mississippi, USA, we explored the dynamics of connectivity between reservoirs and adjacent floodplains and the characteristics of fish assemblages that develop in reservoir floodplains relative to those that develop in reservoir bays. Although fish species richness in floodplains and bays were similar, species composition differed. Floodplains emphasized fish species largely associated with backwater shallow environments, often resistant to harsh environmental conditions. Conversely, dominant species in bays represented mainly generalists that benefit from the continuous connectivity between the bay and the main reservoir. Floodplains in the study reservoirs provided desirable vegetated habitats at lower water level elevations, earlier in the year, and more frequently than in bays. Inundating dense vegetation in bays requires raising reservoir water levels above the levels required to reach floodplains. Therefore, aside from promoting distinct fish assemblages within reservoirs and helping promote diversity in regulated rivers, reservoir floodplains are valued because they can provide suitable vegetated habitats for fish species at elevations below the normal pool, precluding the need to annually flood upland vegetation that would inevitably be impaired by regular flooding. Published 2013. This article is a U.S. Government work and is in the public domain in the USA.
Fowler, M.L. [BDM-Petroleum Technologies, Bartlesville, OK (United States); Young, M.A.; Madden, M.P. [BDM-Oklahoma, Bartlesville, OK (United States)] [and others
Optimum reservoir recovery and profitability result from guidance of reservoir practices provided by an effective reservoir management plan. Success in developing the best, most appropriate reservoir management plan requires knowledge and consideration of (1) the reservoir system including rocks, and rock-fluid interactions (i.e., a characterization of the reservoir) as well as wellbores and associated equipment and surface facilities; (2) the technologies available to describe, analyze, and exploit the reservoir; and (3) the business environment under which the plan will be developed and implemented. Reservoir characterization is the essential to gain needed knowledge of the reservoir for reservoir management plan building. Reservoir characterization efforts can be appropriately scaled by considering the reservoir management context under which the plan is being built. Reservoir management plans de-optimize with time as technology and the business environment change or as new reservoir information indicates the reservoir characterization models on which the current plan is based are inadequate. BDM-Oklahoma and the Department of Energy have implemented a program of reservoir management demonstrations to encourage operators with limited resources and experience to learn, implement, and disperse sound reservoir management techniques through cooperative research and development projects whose objectives are to develop reservoir management plans. In each of the three projects currently underway, careful attention to reservoir management context assures a reservoir characterization approach that is sufficient, but not in excess of what is necessary, to devise and implement an effective reservoir management plan.
de Jong, Johan; Shokoohi, Roya
Insufficient physical activity or being inactive is one of the leading risk factors for non-communicable diseases worldwide. Globally between 6-10% of premature mortality, caused by non-communicable diseases, could be avoided if people adhered to general physical activity guidelines. Besides that, studies link sitting for prolonged periods of time with many serious health concerns. The solution seems simple: Stand up and move forward. However, human behavior is difficult to change – due to th...
Muhammed Monjurul Quadir
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.
Arnold, I.J.M.; Vrugt, E.B.
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.
Armstrong, Michelle Hine; Piercey, Victor I.; Greene-Hunley, Stephanie
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…
Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj
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…
Arnold, I.J.M.; Vrugt, E.B.
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
Favara, G.; Schroth, E.; Valta, P.
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
Sun, Xiao-Qian; Cheng, Xue-Qi; Shen, Hua-Wei; Wang, Zhao-Yang
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.
Beuselinck, C.A.C.; Joos, P.P.M.; Khurana, I.K.; van der Meulen, S.
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
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
Taylor, N.; van Dijk, D.; Franses, P.H.; Lucas, A.
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
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...
... 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...
Alfieri, A.; Groot, R.; Kroon, L.G.; Schrijver, A.
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
A. Alfieri (Arianna); R. Groot (Rutger); L.G. Kroon (Leo); A. Schrijver (Lex)
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
Christophersen, Mogens Teken
Transpalpebral eye enucleation in the standing horse. The Nordic Equine Veterinary Conference, Proceedings, Copenhagen. Denmark. Nov. 2011.......Transpalpebral eye enucleation in the standing horse. The Nordic Equine Veterinary Conference, Proceedings, Copenhagen. Denmark. Nov. 2011....
Smith, N.J.; Brand, D.G.
This paper discusses a stand average growth model based on the self-thinning rule developed and used to generate stand density diagrams. Procedures involved in testing are described and results are included
Bastos, João A.; Caiado, Jorge
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.
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.
... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgagors § 206.37 Credit standing. Each mortgagor must have a general credit standing satisfactory to the Secretary. ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Credit standing. 206.37 Section 206...
Shuba M. V.
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.
Chen, Dongdong; Wu, Mingda; Chen, Jie; Zhang, Chunqiu; Pan, Tiezheng; Zhang, Bing; Tian, Huayu; Chen, Xuesi; Sun, Junqi
Free-standing polymer films that adhere strongly to tissue and can codeliver multiple therapeutic agents in a controlled manner are useful as medical plasters. In this study, a bilayer polymer film comprising a drug reservoir layer and a supporting layer is fabricated by spin-coating poly(lactic-co-glycolic acid) (PLGA) on top of a layer-by-layer assembled film of poly(β-amino esters) (PAE), alginate sodium (ALG), and recombinant human basic fibroblast growth factor (bFGF). Apart from bFGF, the bilayer film can also load antibiotic drug ceftriaxone sodium (CTX) by a postdiffusion process. The PLGA supporting layer facilitates the direct peeling of the bilayer film from substrate to produce a robust and flexible free-standing film with excellent adhesion onto the human skin and porcine liver. The excellent adhesion of the bilayer film originates from the ALG component in the drug reservoir layer. CTX is quickly released by easily breaking its electrostatic interaction with the drug reservoir layer, whereas the sustained release of bFGF is due to the slow degradation of PAE component in the drug reservoir layer. Wounds can be synergetically treated by fast release of CTX to effectively eradicate invasive bacteria and by sustained release of bFGF to accelerate wound healing. Our results serve as a basis for designing multifunctional free-standing films with combination therapy for biomedical applications.
Miranda, Leandro E.; Raborn, Scott W.
Competitive interactions among reservoir fishes may be pronounced because fish assemblages in these artificial environments have had little time to develop niche-partitioning strategies that alleviate negative interspecific interactions. Such interactions may at times have been intensified by introductions of predators such as striped bass Morone saxatilis, introduced to create additional fisheries and control pelagic clupeids. Possible interactions between existing fish assemblages and striped bass include predation and competition. While there is a perception among angler groups that predation by striped bass on co-existing game fish is significant, most studies have reported little or no predation on game fish my striped bass and have considered predation rare and inconsequential. Moreover, predation that occurs will likely be compensatory and fail to reduce overall game fish survival. Any indirect effect of striped bass predation by restricting prey-sized game fish to limited refuge sites remains unknown. Exploitative competition may be more common. Although infrequently, introduced striped bass have depleted prey resources shared with other piscivores, particularly when stocking rates have been high, when there is a high rate of natural reproduction, or when prey supply has plunged in response to environmental fluxes. Fluctuation in prey supply, associated with ordinary environmental variability, and associated time lages in prey supply and predator demand, preclude adjusting predator densities to exactly balance demand with supply. The frequency of low supply-demand rations varies across systems and exhibits seasonal trends. Nevertheless, chronic supply-demand imbalances are manageable where the predator assemblage is at least partially controlled through stocking, harvest regulations, or both. Because of the poor state of knowledge concerning the parameters defining balance and because uncontrollable annual fluctuations preclude exact management of
Shaheen, H.; Khan, R.W.A.; Hussain, K.; Ullah, T.S.; Mehmood, A.
Estimation of carbon sequestration in forest ecosystem is necessary to mitigate impacts of climate change. Current research project was focused to assess the Carbon contents in standing trees and soil of different subtropical forest sites in Kashmir. Tree biomass was estimated by using allometric equations whereas Soil carbon was calculated by Walkey-Black titration method. Total carbon stock was computed as 186.27 t/ha with highest value of 326 t/ha recorded from Pinus roxburghii forest whereas lowest of 75.86 t/ha at mixed forest. Average biomass carbon was found to be 151.38 t/ha with a maximum value of 294.7 t/ha and minimum of 43.4 t/ha. Pinus roxburghii was the most significant species having biomass value of 191.8 t/ha, followed by Olea cuspidata (68.9 t/ha), Acacia modesta (12.71 t/ha), Dalbergia sissoo (12.01 t/ha), Broussonetia papyrifera (5.93 t/ha), Punica granatum (2.27 t/ha), Mallotus philippensis (2.2 t/ha), Albizia lebbeck (1.8t/ha), Ficus palmata (1.51 t/ha), Acacia arabica (1.4 t/ha), Melia azedarach, (1.14 t/ha) and Ficus carica (1.07 t/ha) respectively. Recorded value of tree density was 492/ha; average DBH was 87.27 cm; tree height was 13.3m; and regeneration value was 83 seedlings/ha. Soil carbon stocks were found to be 34.89 t/ha whereas agricultural soil carbon was calculated as 27.18 t/ha. Intense deforestation was represented by a stump density of 147.4/ha. The results of Principal Component Analysis (PCA) revealed the distinct species clusters on the basis of location, biomass and Carbon stock values. Pinus roxburghii and Olea cuspidata were found to be the major contributors of carbon stock having maximum vector lengths in the PCA Biplot. Forest in the area needs to be managed in a sustainable manner to increase its carbon sequestration potential. (author)
Masiello, C. A.; Gallagher, M. E.; Hockaday, W. C.
Photosynthesis and respiration move carbon and oxygen between the atmosphere and the biosphere at a ratio that is characteristic of the biogeochemical processes involved. This ratio is called the oxidative ratio (OR) of photosynthesis and respiration, and is defined as the ratio of moles of O2 per moles of CO2. This O2/CO2 ratio is a characteristic of biosphere-atmosphere gas fluxes, much like the 13C signature of CO2 transferred between the biosphere and the atmosphere has a characteristic signature. OR values vary on a scale of 0 (CO2) to 2 (CH4), with most ecosystem values clustered between 0.9 and 1.2. Just as 13C can be measured for both carbon fluxes and carbon pools, OR can also be measured for fluxes and pools and can provide information about the processes involved in carbon and oxygen cycling. OR values also provide information about reservoir organic geochemistry because pool OR values are proportional to the oxidation state of carbon (Cox) in the reservoir. OR may prove to be a particularly valuable biogeochemical tracer because of its ability to couple information about ecosystem gas fluxes with ecosystem organic geochemistry. We have developed 3 methods to measure the OR of ecosystem carbon reservoirs and intercalibrated them to assure that they yield accurate, intercomparable data. Using these tools we have built a large enough database of biomass and soil OR values that it is now possible to consider the implications of global patterns in ecosystem OR values. Here we present a map of the natural range in ecosystem OR values and begin to consider its implications. One striking pattern is an apparent offset between soil and biospheric OR values: soil OR values are frequently higher than that of their source biomass. We discuss this trend in the context of soil organic geochemistry and gas fluxes.
Davatzes, N. C.; Laboso, R. C.; Layland-Bachmann, C. E.; Feigl, K. L.; Foxall, W.; Tabrez, A. R.; Mellors, R. J.; Templeton, D. C.; Akerley, J.
Crustal permeability can be strongly influenced by developing connected networks of open fractures. However, the detailed evolution of a fracture network, its extent, and the persistence of fracture porosity are difficult to analyze. Even in fault-hosted geothermal systems, where heat is brought to the surface from depth along a fault, hydrothermal flow is heterogeneously distributed. This is presumably due to variations in fracture density, connectivity, and attitude, as well as variations in fracture permeability caused by sealing of fractures by precipitated cements or compaction. At the Brady Geothermal field in Nevada, we test the relationship between the modeled local stress state perturbed by dislocations representing fault slip or volume changes in the geothermal reservoir inferred from surface deformation measured by InSAR and the location of successful geothermal wells, hydrothermal activity, and seismicity. We postulate that permeability is favored in volumes that experience positive Coulomb stress changes and reduced compression, which together promote high densities of dilatant fractures. Conversely, permeability can be inhibited in locations where Coulomb stress is reduced, compression promotes compaction, or where the faults are poorly oriented in the stress field and consequently slip infrequently. Over geologic time scales spanning the development of the fault system, these local stress states are strongly influenced by the geometry of the fault network relative to the remote stress driving slip. At shorter time scales, changes in fluid pressure within the fracture network constituting the reservoir cause elastic dilations and contractions. We integrate: (1) direct observations of stress state and fractures in boreholes and the mapped geometry of the fault network; (2) evidence of permeability from surface hydrothermal features, production/injection wells and surface deformations related to pumping history; and (3) seismicity to test the
Rougier, Patrice; Genthon, Nicolas; Gallois-Montbrun, Thibault; Brugiere, Steve; Bouvat, Eric
To highlight the capacity of one- and two-legged standing protocols when assessing postural behavior induced by a rigid ankle orthosis, 14 healthy individuals stood upright barefoot and wore either an elastic stocking on the preferred leg or a rigid orthosis with or without additional taping in one- or two-legged (TL) conditions. Traditional…
Olsen, R.D.; Sommerfeld, M.R.
The physical--chemical limnology and phytoplankton dynamics of Canyon Lake, Arizona, were investigated from February 1971 to July 1973. The reservoir is a warm monomictic lake with pronounced thermal stratification during the summer months. Chemically the lake is hard water of moderate to high alkalinity and salinity. Annual peaks in the phytoplankton standing crop were recorded during early spring and mid- to late summer, and significant depressions occurred during April--May and November to January. The spring peak was composed primarily of centric diatoms, whereas the summer peak was dominated by filamentous Cyanophyceae. The seasonal appearance and variation in population size of individual species were correlated in varying degrees with one or more physical--chemical parameters. Indications are that physical factors (particularly light and water temperature), rather than water chemistry, were the primary parameters regulating seasonal succession
Smorra, Christian; Franke, Kurt; Nagahama, Hiroki; Schneider, Georg; Higuchi, Takashi; Van Gorp, Simon; Blaum, Klaus; Matsuda, Yasuyuki; Quint, Wolfgang; Walz, Jochen; Yamazaki, Yasunori; Ulmer, Stefan
We have developed techniques to extract arbitrary fractions of antiprotons from an accumulated reservoir, and to inject them into a Penning-trap system for high-precision measurements. In our trap-system antiproton storage times > 1.08 years are estimated. The device is fail-safe against power-cuts of up to 10 hours. This makes our planned comparisons of the fundamental properties of protons and antiprotons independent from accelerator cycles, and will enable us to perform experiments during long accelerator shutdown periods when background magnetic noise is low. The demonstrated scheme has the potential to be applied in many other precision Penning trap experiments dealing with exotic particles.
Pinsornsak, P.; Naratrikun, K.; Kanitnate, S.; Sangkomkamhang, T.
Objectives The purpose of this study was to compare the joint space width between one-leg and both-legs standing radiographs in order to diagnose a primary osteoarthritis of the knee. Methods Digital radiographs of 100 medial osteoarthritic knees in 50 patients were performed. The patients had undergone one-leg standing anteroposterior (AP) views by standing on the affected leg while a both-legs standing AP view was undertaken while standing on both legs. The severity of the osteoarthritis wa...
Full Text Available Air injection is a good option to development light oil reservoir. As well-known that, reservoir heterogeneity has great effect for various EOR processes. This also applies to air injection. However, oil recovery mechanisms and physical processes for air injection in heterogeneous reservoir with dip angle are still not well understood. The reported setting of reservoir heterogeneous for physical model or simulation model of air injection only simply uses different-layer permeability of porous media. In practice, reservoir heterogeneity follows the principle of geostatistics. How much of contrast in permeability actually challenges the air injection in light oil reservoir? This should be investigated by using layered porous medial settings of the classical Dykstra-Parsons style. Unfortunately, there has been no work addressing this issue for air injection in light oil reservoir. In this paper, Reservoir heterogeneity is quantified based on the use of different reservoir permeability distribution according to classical Dykstra-Parsons coefficients method. The aim of this work is to investigate the effect of reservoir heterogeneity on physical process and production performance of air injection in light oil reservoir through numerical reservoir simulation approach. The basic model is calibrated based on previous study. Total eleven pseudo compounders are included in this model and ten complexity of reactions are proposed to achieve the reaction scheme. Results show that oil recovery factor is decreased with the increasing of reservoir heterogeneity both for air and N2 injection from updip location, which is against the working behavior of air injection from updip location. Reservoir heterogeneity sometimes can act as positive effect to improve sweep efficiency as well as enhance production performance for air injection. High O2 content air injection can benefit oil recovery factor, also lead to early O2 breakthrough in heterogeneous reservoir. Well
Chavez, Gustavo Ivan
A dense volumetric grid coming from an oil/gas reservoir simulation output is translated into a compact representation that supports desired features such as interactive visualization, geometric continuity, color mapping and quad representation. A set of four control curves per layer results from processing the grid data, and a complete set of these 3-dimensional surfaces represents the complete volume data and can map reservoir properties of interest to analysts. The processing results yield a representation of reservoir simulation results which has reduced data storage requirements and permits quick performance interaction between reservoir analysts and the simulation data. The degree of reservoir grid compression can be selected according to the quality required, by adjusting for different thresholds, such as approximation error and level of detail. The processions results are of potential benefit in applications such as interactive rendering, data compression, and in-situ visualization of large-scale oil/gas reservoir simulations.
Ramalingam, V. V.; Pandian, A.; Dwivedi, shivam; Bhatt, Jigar P.
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.
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.
吴程涛; 段铸; 张景宇; 张曙光
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.
Ferreira, Nuno B.; Menezes, Rui; Mendes, Diana A.
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.
O'Donnell, Jonathan A.; Harden, Jennifer W.; Manies, Kristen L.; Jorgenson, M. Torre; Kanevskiy, Mikhail; Xu, Xiaomei
Soils of the Northern Circumpolar Permafrost region harbor 1,672 petagrams (Pg) (1 Pg = 1,000,000,000 kilograms) of organic carbon (OC), nearly 50 percent of the global belowground OC pool (Tarnocai and others, 2009). Of that soil OC, nearly 88 percent is presently stored in perennially frozen ground. Recent climate warming at northern latitudes has resulted in warming and thawing of permafrost in many regions (Osterkamp, 2007), which might mobilize OC stocks from associated soil reservoirs via decomposition, leaching, or erosion. Warming also has increased the magnitude and severity of wildfires in the boreal region (Turetsky and others, 2011), which might exacerbate rates of permafrost degradation relative to warming alone. Given the size and vulnerability of the soil OC pool in permafrost soils, permafrost thaw will likely function as a strong positive feedback to the climate system (Koven and others, 2011; Schaefer and others, 2011). In this report, we report soil OC inventories from two upland fire chronosequences located near Hess Creek and Tok in Interior Alaska. We sampled organic and mineral soils in the top 2 meters (m) across a range of stand ages to evaluate the effects of wildfire and permafrost thaw on soil C dynamics. These data were used to parameterize a simple process-based fire-permafrost-carbon model, which is described in detail by O’Donnell and others (2011a, b). Model simulations examine long-term changes in soil OC storage in response to fire, permafrost thaw, and climate change. These data also have been used in other papers, including Harden and others (2012), which examines C recovery post-fire, and Johnson and others (2011), which synthesizes data within the Alaska Soil Carbon Database. Findings from these studies highlight the importance of climate and disturbance (wildfire, permafrost thaw) on soil C storage, and loss of soil C from high-latitude ecosystems.
Razak, Ruzanna Ab; Ismail, Noriszura
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.
The Arrow Lakes food web has been influenced by several anthropogenic stressors during the past 45 years. These include the introduction of mysid shrimp (Mysis relicta) in 1968 and 1974 and the construction of large hydroelectric impoundments in 1969, 1973 and 1983. The construction of the impoundments affected the fish stocks in Upper and Lower Arrow lakes in several ways. The construction of Hugh Keenleyside Dam (1969) resulted in flooding that eliminated an estimated 30% of the available kokanee spawning habitat in Lower Arrow tributaries and at least 20% of spawning habitat in Upper Arrow tributaries. The Mica Dam (1973) contributed to water level fluctuations and blocked upstream migration of all fish species including kokanee. The Revelstoke Dam (1983) flooded 150 km of the mainstem Columbia River and 80 km of tributary streams which were used by kokanee, bull trout, rainbow trout and other species. The construction of upstream dams also resulted in nutrient retention which ultimately reduced reservoir productivity. In Arrow Lakes Reservoir (ALR), nutrients settled out in the Revelstoke and Mica reservoirs, resulting in decreased productivity, a process known as oligotrophication. Kokanee are typically the first species to respond to oligotrophication resulting from aging impoundments. To address the ultra-oligotrophic status of ALR, a bottom-up approach was taken with the addition of nutrients (nitrogen and phosphorus in the form of liquid fertilizer from 1999 to 2004). Two of the main objectives of the experiment were to replace lost nutrients as a result of upstream impoundments and restore productivity in Upper Arrow and to restore kokanee and other sport fish abundance in the reservoir. The bottom-up approach to restoring kokanee in ALR has been successful by replacing nutrients lost as a result of upstream impoundments and has successfully restored the productivity of Upper Arrow. Primary production rates increased, the phytoplankton community responded
John M. Hartwick
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...
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...
Caus Vasile Aurel
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
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....
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...
Rasmussen, Michael R.; Lunger, Angela; Laursen, Jesper
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...
Bonneville, Alain H.; Kouzes, Richard T.
Imaging subsurface geological formations, oil and gas reservoirs, mineral deposits, cavities or magma chambers under active volcanoes has been for many years a major quest of geophysicists and geologists. Since these objects cannot be observed directly, different indirect geophysical methods have been developed. They are all based on variations of certain physical properties of the subsurface that can be detected from the ground surface or from boreholes. Electrical resistivity, seismic wave’s velocities and density are certainly the most used properties. If we look at density, indirect estimates of density distributions are performed currently by seismic reflection methods - since the velocity of seismic waves depend also on density - but they are expensive and discontinuous in time. Direct estimates of density are performed using gravimetric data looking at variations of the gravity field induced by the density variations at depth but this is not sufficiently accurate. A new imaging technique using cosmic-ray muon detectors has emerged during the last decade and muon tomography - or muography - promises to provide, for the first time, a complete and precise image of the density distribution in the subsurface. Further, this novel approach has the potential to become a direct, real-time, and low-cost method for monitoring fluid displacement in subsurface reservoirs.
During the last decade, smart waterflooding has been developed into an emerging EOR technology both for carbonate and sandstone reservoirs that does not require toxic or expensive chemicals. Although it is widely accepted that different salinity brines may increase the oil recovery for carbonate reservoirs, understanding of the mechanism of this increase is still developing. To understand this smart waterflooding process, an extensive research has been carried out covering a broad range of disciplines within surface chemistry, thermodynamics of crude oil and brine, as well as their behavior in porous media. The main conclusion of most previous studies was that it is the rock wettability alteration towards more water wetting condition that helps improving the oil recovery. In the first step of this project, we focused on verifying this conclusion. Coreflooding experiments were carried out using Stevens Klint outcrop chalk core plugs with brines without sulfate, as well as brines containing sulfate in different concentrations. The effects of temperature, injection rate, crude oil composition and different sulfate concentrations on the total oil recovery and the recovery rate were investigated. Experimental results clearly indicate improvement of the oil recovery without wettability alteration. At the second step of this project, we studied crude oil/brine interactions under different temperatures, pressures and salinity conditions in order to understand mechanisms behind the high salinity waterflooding. Our results show, in particular that sulfate ions may help decreasing the crude oil viscosity or formation of, seemingly, an emulsion phase between sulfate-enriched brine and oil at high temperature and pressure. Experimental results indicate that crude oils interact differently with the same brine solutions regarding phase behavior and viscosity measurements. This difference is attributed to the difference in composition of the different crude oils. More experiments
In the study of gas reservoir development, the first year topics are restricted on reservoir characterization. There are two types of reservoir characterization. One is the reservoir formation characterization and the other is the reservoir fluid characterization. For the reservoir formation characterization, calculation of conditional simulation was compared with that of unconditional simulation. The results of conditional simulation has higher confidence level than the unconditional simulation because conditional simulation considers the sample location as well as distance correlation. In the reservoir fluid characterization, phase behavior calculations revealed that the component grouping is more important than the increase of number of components. From the liquid volume fraction with pressure drop, the phase behavior of reservoir fluid can be estimated. The calculation results of fluid recombination, constant composition expansion, and constant volume depletion are matched very well with the experimental data. In swelling test of the reservoir fluid with lean gas, the accuracy of dew point pressure forecast depends on the component characterization. (author). 28 figs., 10 tabs.
Full Text Available A 43-year old patient presented to the emergency department with stretch, due to impossible deflation of the penile prosthesis, 4 years after successful implant. A CT-scan showed migration of the reservoir to the left rectus abdominis muscle. Refilling of the reservoir was inhibited by muscular compression, causing stretch. Removal and replacement of the reservoir was performed, after which the prosthesis was well-functioning again. Migration of the penile prosthesis reservoir is extremely rare but can cause several complications, such as stretch.
J Boone Kauffman
Full Text Available Globally, it is recognized that blue carbon ecosystems, especially mangroves, often sequester large quantities of carbon and are of interest for inclusion in climate change mitigation strategies. While 19% of the world's mangroves are in Africa, they are among the least investigated of all blue carbon ecosystems. We quantified total ecosystem carbon stocks in 33 different mangrove stands along the Atlantic coast of West-Central Africa from Senegal to Southern Gabon spanning large gradients of latitude, soil properties, porewater salinity, and precipitation. Mangrove structure ranged from low and dense stands that were 35,000 trees ha-1 to tall and open stands >40m in height and 1,000 Mg C ha-1. The lowest carbon stocks were found in the low mangroves of the semiarid region of Senegal (463 Mg C ha-1 and in mangroves on coarse-textured soils in Gabon South (541 Mg C ha-1. At the scale of the entirety of West-Central Africa, total ecosystem carbon stocks were poorly correlated to aboveground ecosystem carbon pools, precipitation, latitude and soil salinity (r2 = ≤0.07 for all parameters. Based upon a sample of 158 sites from Africa, Asia and Latin America that were sampled in a similar manner to this study, the global mean of carbon stocks for mangroves is 885 Mg C ha-1. The ecosystem carbon stocks of mangroves for West-Central Africa are slightly lower than those of Latin America (940 Mg C ha-1 and Asia (1049 Mg C ha-1 but substantially higher than the default Intergovernmental Panel on Climate Change (IPCC values for mangroves (511 Mg C ha-1. This study provides an improved estimation of default estimates (Tier 1 values of mangroves for Asia, Latin America, and West Central Africa.
Katterbauer, Klemens; Hoteit, Ibrahim
process. While becoming a promising technology for heavy oil recovery, its effect on overall reservoir production and fluid displacements are poorly understood. Reservoir history matching has become a vital tool for the oil & gas industry to increase
Katterbauer, Klemens; Arango, Santiago; Sun, Shuyu; Hoteit, Ibrahim
Reservoir simulations and history matching are critical for fine-tuning reservoir production strategies, improving understanding of the subsurface formation, and forecasting remaining reserves. Production data have long been incorporated
Zhao, J.; Xu, W.; Cai, X.; Wang, Z.
Stationarity of inflow has been a basic assumption for reservoir operation rule design, which is now facing challenges due to climate change and human interferences. This paper proposes a modeling framework to incorporate non-stationary inflow prediction for optimizing the hedging operation rule of large reservoirs with multiple-year flow regulation capacity. A multi-stage optimization model is formulated and a solution algorithm based on the optimality conditions is developed to incorporate non-stationary annual inflow prediction through a rolling, dynamic framework that updates the prediction from period to period and adopt the updated prediction in reservoir operation decision. The prediction model is ARIMA(4,1,0), in which parameter 4 stands for the order of autoregressive, 1 represents a linear trend, and 0 is the order of moving average. The modeling framework and solution algorithm is applied to the Miyun reservoir in China, determining a yearly operating schedule during the period from 1996 to 2009, during which there was a significant declining trend of reservoir inflow. Different operation policy scenarios are modeled, including standard operation policy (SOP, matching the current demand as much as possible), hedging rule (i.e., leaving a certain amount of water for future to avoid large risk of water deficit) with forecast from ARIMA (HR-1), hedging (HR) with perfect forecast (HR-2 ). Compared to the results of these scenarios to that of the actual reservoir operation (AO), the utility of the reservoir operation under HR-1 is 3.0% lower than HR-2, but 3.7% higher than the AO and 14.4% higher than SOP. Note that the utility under AO is 10.3% higher than that under SOP, which shows that a certain level of hedging under some inflow prediction or forecast was used in the real-world operation. Moreover, the impacts of discount rate and forecast uncertainty level on the operation will be discussed.
Febrian, Erie; Herwany, Aldrin
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 ...
Koerner, Roy; Clarke, Don; Walker, Scott
The objectives of this quarterly report was to summarize the work conducted under each task during the reporting period April - June 1998 and to report all technical data and findings as specified in the ''Federal Assistance Reporting Checklist''. The main objective of this project is the transfer of technologies, methodologies, and findings developed and applied in this project to other operators of Slope and Basin Clastic Reservoirs. This project will study methods to identify sands with high remaining oil saturation and to recomplete existing wells using advanced completion technology.
Grant M Domke
Full Text Available The inventory and monitoring of coarse woody debris (CWD carbon (C stocks is an essential component of any comprehensive National Greenhouse Gas Inventory (NGHGI. Due to the expense and difficulty associated with conducting field inventories of CWD pools, CWD C stocks are often modeled as a function of more commonly measured stand attributes such as live tree C density. In order to assess potential benefits of adopting a field-based inventory of CWD C stocks in lieu of the current model-based approach, a national inventory of downed dead wood C across the U.S. was compared to estimates calculated from models associated with the U.S.'s NGHGI and used in the USDA Forest Service, Forest Inventory and Analysis program. The model-based population estimate of C stocks for CWD (i.e., pieces and slash piles in the conterminous U.S. was 9 percent (145.1 Tg greater than the field-based estimate. The relatively small absolute difference was driven by contrasting results for each CWD component. The model-based population estimate of C stocks from CWD pieces was 17 percent (230.3 Tg greater than the field-based estimate, while the model-based estimate of C stocks from CWD slash piles was 27 percent (85.2 Tg smaller than the field-based estimate. In general, models overestimated the C density per-unit-area from slash piles early in stand development and underestimated the C density from CWD pieces in young stands. This resulted in significant differences in CWD C stocks by region and ownership. The disparity in estimates across spatial scales illustrates the complexity in estimating CWD C in a NGHGI. Based on the results of this study, it is suggested that the U.S. adopt field-based estimates of CWD C stocks as a component of its NGHGI to both reduce the uncertainty within the inventory and improve the sensitivity to potential management and climate change events.
Domke, Grant M; Woodall, Christopher W; Walters, Brian F; Smith, James E
The inventory and monitoring of coarse woody debris (CWD) carbon (C) stocks is an essential component of any comprehensive National Greenhouse Gas Inventory (NGHGI). Due to the expense and difficulty associated with conducting field inventories of CWD pools, CWD C stocks are often modeled as a function of more commonly measured stand attributes such as live tree C density. In order to assess potential benefits of adopting a field-based inventory of CWD C stocks in lieu of the current model-based approach, a national inventory of downed dead wood C across the U.S. was compared to estimates calculated from models associated with the U.S.'s NGHGI and used in the USDA Forest Service, Forest Inventory and Analysis program. The model-based population estimate of C stocks for CWD (i.e., pieces and slash piles) in the conterminous U.S. was 9 percent (145.1 Tg) greater than the field-based estimate. The relatively small absolute difference was driven by contrasting results for each CWD component. The model-based population estimate of C stocks from CWD pieces was 17 percent (230.3 Tg) greater than the field-based estimate, while the model-based estimate of C stocks from CWD slash piles was 27 percent (85.2 Tg) smaller than the field-based estimate. In general, models overestimated the C density per-unit-area from slash piles early in stand development and underestimated the C density from CWD pieces in young stands. This resulted in significant differences in CWD C stocks by region and ownership. The disparity in estimates across spatial scales illustrates the complexity in estimating CWD C in a NGHGI. Based on the results of this study, it is suggested that the U.S. adopt field-based estimates of CWD C stocks as a component of its NGHGI to both reduce the uncertainty within the inventory and improve the sensitivity to potential management and climate change events.
Stenger, Michael B.; Lee, Stuart M. C.; Westby, Christian M.; Platts, Steven H.
Orthostatic intolerance after space flight is still an issue for astronauts as no in-flight countermeasure has been 100% effective. NASA astronauts currently wear an inflatable anti-gravity suit (AGS) during re-entry, but this device is uncomfortable and loses effectiveness upon egress from the Shuttle. We recently determined that thigh-high, gradient compression stockings were comfortable and effective after space flight, though to a lesser degree than the AGS. We also recently showed that addition of splanchnic compression to this thigh-high compression stocking paradigm improved orthostatic tolerance to a level similar to the AGS, in a ground based model. Purpose: The purpose of this study was to evaluate a new, three-piece breast-high gradient compression garment as a countermeasure to post-space flight orthostatic intolerance. Methods: Eight U.S. astronauts have volunteered for this experiment and were individually fitted for a three-piece, breast-high compression garment to provide 55 mmHg compression at the ankle which decreased to approximately 20 mmHg at the top of the leg and provides 15 mmHg over the abdomen. Orthostatic testing occurred 30 days pre-flight (w/o garment) and 2 hours after flight (w/ garment) on landing day. Blood pressure (BP), Heart Rate (HR) and Stroke Volume (SV) were acquired for 2 minutes while the subject lay prone and then for 3.5 minutes after the subject stands up. To date, two astronauts have completed pre- and post-space flight testing. Data are mean SD. Results: BP [pre (prone to stand): 137+/-1.6 to 129+/-2.5; post: 130+/-2.4 to 122+/-1.6 mmHg] and SV [pre (prone to stand): 61+/-1.6 to 38+/-0.2; post: 58+/-6.4 to 37+/-6.0 ml] decreased with standing, but no differences were seen post-flight w/ compression garments compared to pre-flight w/o garments. HR [pre (prone to stand): 66+/-1.6 to 74+/-3.0, post: 67+/-5.6 to 78+/-6.8 bpm] increased with standing, but no differences were seen pre- to post-flight. Conclusion: After space
Kindermann, Georg E; Schörghuber, Stefan; Linkosalo, Tapio; Sanchez, Anabel; Rammer, Werner; Seidl, Rupert; Lexer, Manfred J
Forests play an important role in the global carbon flow. They can store carbon and can also provide wood which can substitute other materials. In EU27 the standing biomass is steadily increasing. Increments and harvests seem to have reached a plateau between 2005 and 2010. One reason for reaching this plateau will be the circumstance that the forests are getting older. High ages have the advantage that they typical show high carbon concentration and the disadvantage that the increment rates are decreasing. It should be investigated how biomass stock, harvests and increments will develop under different climate scenarios and two management scenarios where one is forcing to store high biomass amounts in forests and the other tries to have high increment rates and much harvested wood. A management which is maximising standing biomass will raise the stem wood carbon stocks from 30 tC/ha to 50 tC/ha until 2100. A management which is maximising increments will lower the stock to 20 tC/ha until 2100. The estimates for the climate scenarios A1b, B1 and E1 are different but there is much more effect by the management target than by the climate scenario. By maximising increments the harvests are 0.4 tC/ha/year higher than in the management which maximises the standing biomass. The increments until 2040 are close together but around 2100 the increments when maximising standing biomass are approximately 50 % lower than those when maximising increments. Cold regions will benefit from the climate changes in the climate scenarios by showing higher increments. The results of this study suggest that forest management should maximise increments, not stocks to be more efficient in sense of climate change mitigation. This is true especially for regions which have already high carbon stocks in forests, what is the case in many regions in Europe. During the time span 2010-2100 the forests of EU27 will absorb additional 1750 million tC if they are managed to maximise increments compared
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.
Full Text Available Sedimentation is such a crucial issue to be noted once the accumulated sediment begins to fill the reservoir dead storage, this will then influence the long-term reservoir operation. The sediment accumulated requires a serious attention for it may influence the storage capacity and other reservoir management of activities. The continuous inflow of sediment to the reservoir will decrease the capacity of reservoir storage, the reservoir value in use, and the useful age of reservoir. Because of that, the rate of the sediment needs to be delayed as possible. In this research, the delay of the sediment rate is considered based on the rate of flow of landslide of the reservoir slope. The rate of flow of the sliding slope can be minimized by way of each reservoir autonomous efforts. This effort can be performed through; the regulation of fluctuating rate of reservoir surface current that does not cause suddenly drawdown and upraising as well. The research model is compiled using the searching technique of Non Linear Programming (NLP.The rate of bank erosion for the reservoir variates from 0.0009 to 0.0048 MCM/year, which is no sigrificant value to threaten the life time of reservoir.Mean while the rate of watershed sediment has a significant value, i.e: 3,02 MCM/year for Saguling that causes to fullfill the storage capacity in 40 next years (from years 2008.
Full Text Available Although beech stands are usually regenerated naturally, an area of up to 5,000 ha year−1 is artificially regenerated by beech in the Czech Republic annually. Unfortunately, these stands often showed insufficient stand density and, consequently, lower quality of stems. Therefore, thinning methods developed for naturally regenerated beech stands are applicable with difficulties. The paper evaluates the data from two thinning experiments established in young artificially regenerated beech stands located in different growing conditions. In both experiments, thinning resulted in the lower amount of salvage cut in following years. Positive effect of thinning on periodic stand basal area increment and on periodic diameter increment of dominant trees was found in the beech stand located at middle elevations. On the other hand, thinning effects in mountain conditions were negligible. Thinning focusing on future stand quality cannot be commonly applied in artificially regenerated beech stands because of their worse initial quality and lower density. However, these stands show good growth and response to thinning, hence their management can be focused on maximising beech wood production.
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...
Pasaribu, Rowland Bismark Fernando
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 ...
John H. Boyd; Ravi Jagannathan; Jian Hu
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...
Wang, Chengzhang; Bai, Xiaoming
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.
Brofeldt, Søren; Theilade, Ida; Burgess, Neil David
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...
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...
.... 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...
Shiller, R J
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.
Liu, Haijun; Wang, Longfei
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.
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...
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...
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.
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....
Perotti, E.C.; van Oijen, P.H.
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
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.
... 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...
... 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...
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.
Saltari, Enrico; Giuseppe, Travaglini
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.
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)
de Rebat (2008).  - B. DOUMANDJI-MITICHI. Etude d'un ravageur des denrées stockées E. Kuehiella, Am.El Harrach. (1997).  - 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.
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...
Raluca Georgiana NASTASESCU
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...
Emmanuel Numapau Gyamfi
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.
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.
Grewal, Jody; Hauptmann, Clarissa; Serafeim, Georgios
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...
Peng, Lin; Röell, Ailsa A
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...
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....
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...
Sui Suyin, Crystal
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...
Full Text Available Purpose. To investigate qualitative and quantitative indicators of the development of phyto-, zooplankton and macrozoobenthos. To assess bioproductional capacity and potential fish productivity of the Dnieper reservoirs at the current stage of development (2011–2013. Methodology. The materials were collected across the entire area of the reservoirs according to standard net-station. Collection and processing of the materials were carried out based on generally accepted hydrobiological methods. Findings. The current state of fish forage resources and productional capacity of Dnieper reservoirs based on the development of phyto-, zooplankton and macrozoobenthos has been investigated. Qualitative and quantitative indicators of the development of phyto-, zooplankton and macrozoobenthos for 2011–2013 have been shown. During the study period, total production varied from 5 to 15 thousand kg/ha that can ensure the potential fish production in the reservoirs of approx. 21–62 kg/ha. It was found that zooplanktonic and macrozoobenthic communities play the predominant role in forming the fish productivity in the reservoirs even with their low level of development. The value of the potential fish productivity in the reservoirs is formed of 14–60% by zooplanktonic communities, 3–23% by soft zoobenthos production, 21–51% by mollusks, and 9–33% by phytoplanktonic communities. Originality. The qualitative and quantitative indicators of the development of phyto-, zooplankton and macrozoobenthos and to assess potential bioproductional capacity of the Dnieper reservoirs at the current stage of development (2011–2013 have been investigated. Practical value. The obtained results offer an opportunity to assess the productional capacity of the Dnieper reservoirs and can be used for the development of scientifically sound background for stocking them with commercially valuable fish species for their rational exploitation that is a priority task of
brine solutions regarding phase behavior and viscosity measurements. This difference is attributed to the difference in composition of the different crude oils. More experiments are carried out in order to understand mechanisms of the crude oil viscosity reduction and emulsion formation. We observed...... with and without aging. The total oil recovery, recovery rate and interaction mechanisms of ions with rock were studied for different injected fluids under different temperatures and wettability conditions. Experimental results demonstrate that the oil recovery mechanism under high salinity seawater flooding...... phase could be the possible reasons for the observed increase in oil recovery with sulfate ions at high temperature in chalk reservoirs, besides the mechanism of the rock wettability alteration. * Crude oil/brine interaction study suggests that viscosity reduction for crude oil in contact with brine...
Pamenter, C B
Keeping pace with increased demand for efficiency in secondary recovery schemes is the widening use of downhole tools charged with supplying data before and during the operation of the projects. One of the most important of these is the pressure recorder. This highly sensitive instrument, housed in a tough, slim steel case and lowered by drill pipe or cable, accurately measures the pressure of its downhole environment. This information is instantly available at the surface whenever a pressure reading is required. Typical applications of surface recorders often contribute are: (1) production practices such as checking surface and subsurface equipment, and special lifting problems; (2) well conditions including regular productivity indices, data observations and for interference studies; (3) secondary recovery projects, in both producing and injection wells; and (4) reservoir conditions where oil-water contacts and damaged zones need close attention.
with emphasis on optimal control of water ooding with the use of smartwell technology. We have implemented immiscible ow of water and oil in isothermal reservoirs with isotropic heterogenous permeability elds. We use the method of lines for solution of the partial differential equation (PDE) system that governs...... the uid ow. We discretize the the two-phase ow model spatially using the nite volume method (FVM), and we use the two point ux approximation (TPFA) and the single-point upstream (SPU) scheme for computing the uxes. We propose a new formulation of the differential equation system that arise...... as a consequence of the spatial discretization of the two-phase ow model. Upon discretization in time, the proposed equation system ensures the mass conserving property of the two-phase ow model. For the solution of the spatially discretized two-phase ow model, we develop mass conserving explicit singly diagonally...
Greg Mines; Hillary Hanson; Rick Allis; Joseph Moore
Stratigraphic geothermal reservoirs at 3 – 4 km depth in high heat-flow basins are capable of sustaining 100 MW-scale power plants at about 10 c/kWh. This paper examines the impacts on the levelized cost of electricity (LCOE) of reservoir depth and temperature, reservoir productivity, and drillhole/casing options. For a reservoir at 3 km depth with a moderate productivity index by hydrothermal reservoir standards (about 50 L/s/MPa, 5.6 gpm/psi), an LCOE of 10c/kWh requires the reservoir to be at about 200°C. This is the upper temperature limit for pumps. The calculations assume standard hydrothermal drilling costs, with the production interval completed with a 7 inch liner in an 8.5 inch hole. If a reservoir at 4 km depth has excellent permeability characteristics with a productivity index of 100 L/s/MPa (11.3 gpm/psi), then the LCOE is about 11 c/kWh assuming the temperature decline rate with development is not excessive (< 1%/y, with first thermal breakthrough delayed by about 10 years). Completing wells with modest horizontal legs (e.g. several hundred meters) may be important for improving well productivity because of the naturally high, sub-horizontal permeability in this type of reservoir. Reducing the injector/producer well ratio may also be cost-effective if the injectors are drilled as larger holes.
Li, Siyue; Zhang, Quanfa
Substantial greenhouse gas (GHG) emissions from hydropower reservoirs have been of great concerns recently, yet the significant carbon emitters of drawdown area and reservoir downstream (including spillways and turbines as well as river reaches below dams) have not been included in global carbon budget. Here, we revisit GHG emission from hydropower reservoirs by considering reservoir surface area, drawdown zone and reservoir downstream. Our estimates demonstrate around 301.3 Tg carbon dioxide (CO2)/year and 18.7 Tg methane (CH4)/year from global hydroelectric reservoirs, which are much higher than recent observations. The sum of drawdown and downstream emission, which is generally overlooked, represents 42 % CO2 and 67 % CH4 of the total emissions from hydropower reservoirs. Accordingly, the global average emissions from hydropower are estimated to be 92 g CO2/kWh and 5.7 g CH4/kWh. Nonetheless, global hydroelectricity could currently reduce approximate 2,351 Tg CO2eq/year with respect to fuel fossil plant alternative. The new findings show a substantial revision of carbon emission from the global hydropower reservoirs.
T. V. Mykolaichuk
Full Text Available The paper is devoted to zooplankton species composition in the Zaporiz’ke Reservoir. The greatest species diversity was found in the macrophyte communities of the upper reservoir’s littoral, but the least zooplankton diversity – in the pelagic zone of the lower reservoir.
Bensching, L.; Livneh, B.; Greimann, B. P.
Reservoir sedimentation is a long-term problem for water management across the Western U.S. Observations of sedimentation are limited to reservoir surveys that are costly and infrequent, with many reservoirs having only two or fewer surveys. This work aims to apply a recently developed ensemble of sediment algorithms to estimate reservoir sedimentation over several western U.S. reservoirs. The sediment algorithms include empirical, conceptual, stochastic, and processes based approaches and are coupled with a hydrologic modeling framework. Preliminary results showed that the more complex and processed based algorithms performed better in predicting high sediment flux values and in a basin transferability experiment. However, more testing and validation is required to confirm sediment model skill. This work is carried out in partnership with the Bureau of Reclamation with the goal of evaluating the viability of reservoir sediment yield prediction across the western U.S. using a multi-algorithm approach. Simulations of streamflow and sediment fluxes are validated against observed discharges, as well as a Reservoir Sedimentation Information database that is being developed by the US Army Corps of Engineers. Specific goals of this research include (i) quantifying whether inter-algorithm differences consistently capture observational variability; (ii) identifying whether certain categories of models consistently produce the best results, (iii) assessing the expected sedimentation life-span of several western U.S. reservoirs through long-term simulations.
I. A. Stolbunov
Full Text Available Species composition, distribution and abundance of fish in the pelagic and littoral zone of four reservoirs of Central Vietnam (Suoi Chau, Kam Lam, Da Ban and Suoi Dau were studied first. According to the research data the fish community of the reservoirs is represented by 43 species of 19 fish families.
Miranda, L.E.; Hunt, K.M.
Fish habitat impairment resulting from natural and anthropogenic watershed and in-lake processes has in many cases reduced the ability of reservoirs to sustain native fish assemblages and fisheries quality. Rehabilitation of impaired reservoirs is hindered by the lack of a method suitable for scoring impairment status. To address this limitation, an index of reservoir habitat impairment (IRHI) was developed by merging 14 metrics descriptive of common impairment sources, with each metric scored from 0 (no impairment) to 5 (high impairment) by fisheries scientists with local knowledge. With a plausible range of 5 to 25, distribution of the IRHI scores ranged from 5 to 23 over 482 randomly selected reservoirs dispersed throughout the USA. The IRHI reflected five impairment factors including siltation, structural habitat, eutrophication, water regime, and aquatic plants. The factors were weakly related to key reservoir characteristics including reservoir area, depth, age, and usetype, suggesting that common reservoir descriptors are poor predictors of fish habitat impairment. The IRHI is rapid and inexpensive to calculate, provides an easily understood measure of the overall habitat impairment, allows comparison of reservoirs and therefore prioritization of restoration activities, and may be used to track restoration progress. The major limitation of the IRHI is its reliance on unstandardized professional judgment rather than standardized empirical measurements. ?? 2010 US Government.
Vuckovic, M; Milenkovic, P.; Lukic, D.
The quality of surface waters is a very important problem incorporated in the environment protection, especially in water resources. The Timok border-land hasn't got sufficient underground and surface waters. This is certificated by the International Association for Water Resource. That was reason for building the water reservoir 'Grliste'. Drinking water from water reservoir 'Grliste' supplies Zajecar and the surroundings. (author)
The principal goal of this study was to provide analysis of and recommendations on the need for and feasibility of a geothermal reservoir insurance program. Five major tasks are reported: perception of risk by major market sectors, status of private sector insurance programs, analysis of reservoir risks, alternative government roles, and recommendations.
Lucas, Timothy S.
A compression-evaporation refrigeration system, wherein gaseous compression of the refrigerant is provided by a standing wave compressor. The standing wave compressor is modified so as to provide a separate subcooling system for the refrigerant, so that efficiency losses due to flashing are reduced. Subcooling occurs when heat exchange is provided between the refrigerant and a heat pumping surface, which is exposed to the standing acoustic wave within the standing wave compressor. A variable capacity and variable discharge pressure for the standing wave compressor is provided. A control circuit simultaneously varies the capacity and discharge pressure in response to changing operating conditions, thereby maintaining the minimum discharge pressure needed for condensation to occur at any time. Thus, the power consumption of the standing wave compressor is reduced and system efficiency is improved.
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... 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...
Liu, Ning; Nan, Hongwei
Natural forests in inland China are generally distributed in montane area and secondary due to a semi-arid climate and past anthropogenic disturbances. However, quantification of carbon (C) stock in these forests and the role of altitude in determining C storage and its partition among ecosystem components are unclear. We sampled 54 stands of three secondary coniferous forests (Larix principis-rupprechtii (LP) forest, Picea meyerii (PM) forest and Pinus tabulaeformis (PT) forest) on Loess Plateau in an altitudinal range of 1200-2700m a.s.l. C stocks of tree layer, shrub layer, herb layer, coarse wood debris, forest floor and soil were estimated. We found these forests had relatively high total C stocks. Driven by both higher vegetation and soil C stocks, total C stocks of LP and PM forests in the high altitudinal range were 375.0 and 368.4 t C ha-1 respectively, significantly higher than that of PT forest in the low altitudinal range (230.2 t C ha-1). In addition, understory shrubs accounted for about 20% of total biomass in PT forest. The proportions of vegetation to total C stock were similar among in the three forests (below 45%), so were the proportions of soil C stock (over 54%). Necromass C stocks were also similar among these forests, but their proportions to total C stock were significantly lower in LP and PM forests (1.4% and 1.6%) than in PT forest (3.0%). Across forest types, vegetation biomass and soil C stock simultaneously increased with increasing altitude, causing fairly unchanged C partitioning among ecosystem components along the altitudinal gradient. Soil C stock also increased with altitude in LP and PT forests. Forest floor necromass decreased with increasing altitude across the three forests. Our results suggest the important role of the altitudinal gradient in C sequestration and floor necromass of these three forests in terms of alleviated water conditions and in soil C storage of LP and PM forests in terms of temperature change. PMID
of magnitude and degree of variability of the freshwater reservoir effect over short and long timescales. Radiocarbon dating of recent water samples, aquatic plants, and animals, shows that age differences of up to 2000 14C years can occur within one river. The freshwater reservoir effect has also implications......The freshwater reservoir effect can result in anomalously old radiocarbon ages of samples from lakes and rivers. This includes the bones of people whose subsistence was based on freshwater fish, and pottery in which fish was cooked. Water rich in dissolved ancient calcium carbonates, commonly known...... as hard water, is the most common reason for the freshwater reservoir effect. It is therefore also called hardwater effect. Although it has been known for more than 60 years, it is still less well-recognized by archaeologists than the marine reservoir effect. The aim of this study is to examine the order...
Randall, T E
The basic approach used in developing the model to characterize the Alameda Central Unit Waterflood assumes continuity of the reservoir mechanics with time. The past performance was analyzed to describe the reservoir and future performance was assumed to follow the established patterns. To develop a mathematical picture of the Alameda Central Unit reservoir, a two-dimensional single-phase steady-state model was used in conjunction with material balance calculations, real-time conversion methods and oil-water interface advance calculations. The model was developed to optimize water injection allocation, determine the configuration of the frontal advance and evaluate the success of the waterflood. The model also provides a basis for continuing review and revision of the basic concepts of reservoir operation. The results of the reservoir study have confirmed the apparent lack of permeability orientation in the pool and indicate that the waterflood is progressing better than originally anticipated.
Wang Kai-Cheng; Yang Chi-I; Chang Kuei-Fang
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...
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...
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 ...
Warren, M.; Kauffman, B.; Murdiyarso, D.; Kurnianto, S.
Over millennia, atmospheric carbon dioxide has been sequestered and stored in Indonesia's tropical wetland forests. Waterlogged conditions impede decomposition, allowing the formation of deep organic soils. These globally significant C pools are highly vulnerable to deforestation, degradation and climate change which can potentially switch their function as C sinks to long term sources of greenhouse gas (GHG) emissions. Also at risk are critical ecosystem services which sustain millions of people and the conservation of unique biological communities. The multiple benefits derived from wetland forest conservation makes them attractive for international C offset programs such as the proposed Reduced Emissions from Deforestation and Degradation (REDD+) mechanism. Yet, ecosystem C pools and fluxes in wetland forests remain poorly quantified. Significant knowledge gaps exist regarding how land use changes impact C dynamics in tropical wetlands, and very few studies have simultaneously assessed above- and belowground ecosystem C pools in Indonesia's freshwater peat swamps and mangroves. In addition, most of what is known about Indonesia's tropical wetland forests is derived from few geographic locations where long-standing research has focused, despite their broad spatial distribution. Here we present results from an extensive survey of ecosystem C stocks across several Indonesian wetland forests. Ecosystem C stocks were measured in freshwater peat swamp forests in West Papua, Central Kalimantan, West Kalimantan, and Sumatra. Carbon storage was also measured for mangrove forests in W. Papua, W. Kalimantan, and Sumatra. One overarching goal of this research is to support the development of REDD+ for tropical wetlands by informing technical issues related to carbon measuring, monitoring, and verification (MRV) and providing baseline data about the variation of ecosystem C storage across and within several Indonesian wetland forests.
Chen, Kun; Luo, Peng; Sun, Bianxia; Wang, Huaiqing
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.
Sharaf, Radwa R; Li, Jonathan Z
Despite the success of antiretroviral therapy in suppressing HIV, life-long therapy is required to avoid HIV reactivation from long-lived viral reservoirs. Currently, there is intense interest in searching for therapeutic interventions that can purge the viral reservoir to achieve complete remission in HIV patients off antiretroviral therapy. The evaluation of such interventions relies on our ability to accurately and precisely measure the true size of the viral reservoir. In this review, we assess the most commonly used HIV reservoir assays, as a clear understanding of the strengths and weaknesses of each is vital for the accurate interpretation of results and for the development of improved assays. The quantification of intracellular or plasma HIV RNA or DNA levels remains the most commonly used tests for the characterization of the viral reservoir. While cost-effective and high-throughput, these assays are not able to differentiate between replication-competent or defective fractions or quantify the number of infected cells. Viral outgrowth assays provide a lower bound for the fraction of cells that can produce infectious virus, but these assays are laborious, expensive and substantially underestimate the potential reservoir of replication-competent provirus. Newer assays are now available that seek to overcome some of these problems, including full-length proviral sequencing, inducible HIV RNA assays, ultrasensitive p24 assays and murine adoptive transfer techniques. The development and evaluation of strategies for HIV remission rely upon our ability to accurately and precisely quantify the size of the remaining viral reservoir. At this time, all current HIV reservoir assays have drawbacks such that combinations of assays are generally needed to gain a more comprehensive view of the viral reservoir. The development of novel, rapid, high-throughput assays that can sensitively quantify the levels of the replication-competent HIV reservoir is still needed.
Scientific and industrial drilling programs have now providing detailed information on gas hydrate systems that will increasingly be the subject of field experiments. The need to carefully plan these programs requires reliable prediction of reservoir response to hydrate dissociation. Currently, a major emphasis in gas hydrate modeling is the integration of thermodynamic/hydrologic phenomena with geomechanical response for both reservoir and bounding strata. However, also critical to the ultimate success of these efforts is the appropriate development of input geologic models, including several emerging issues, including (1) reservoir heterogeneity, (2) understanding of the initial petrophysical characteristics of the system (reservoirs and seals), the dynamic evolution of those characteristics during active dissociation, and the interdependency of petrophysical parameters and (3) the nature of reservoir boundaries. Heterogeneity is ubiquitous aspect of every natural reservoir, and appropriate characterization is vital. However, heterogeneity is not random. Vertical variation can be evaluated with core and well log data; however, core data often are challenged by incomplete recovery. Well logs also provide interpretation challenges, particularly where reservoirs are thinly-bedded due to limitation in vertical resolution. This imprecision will extend to any petrophysical measurements that are derived from evaluation of log data. Extrapolation of log data laterally is also complex, and should be supported by geologic mapping. Key petrophysical parameters include porosity, permeability and it many aspects, and water saturation. Field data collected to date suggest that the degree of hydrate saturation is strongly controlled by/dependant upon reservoir quality and that the ratio of free to bound water in the remaining pore space is likely also controlled by reservoir quality. Further, those parameters will also evolve during dissociation, and not necessary in a simple
The ultimate goal of oil and gas exploration is to find the oil or gas reservoirs with industrial mining value. Therefore, the core task of modern oil and gas exploration is to identify oil or gas reservoirs on the seismic profiles. Traditionally, the reservoir is identify by seismic inversion of a series of physical parameters such as porosity, saturation, permeability, formation pressure, and so on. Due to the heterogeneity of the geological medium, the approximation of the inversion model and the incompleteness and noisy of the data, the inversion results are highly uncertain and must be calibrated or corrected with well data. In areas where there are few wells or no well, reservoir identification based on seismic inversion is high-risk. Reservoir identification is essentially a classification issue. In the identification process, the underground rocks are divided into reservoirs with industrial mining value and host rocks with non-industrial mining value. In addition to the traditional physical parameters classification, the classification may be achieved using one or a few comprehensive features. By introducing the concept of seismic-print, we have developed a new reservoir identification method based on seismic-print analysis. Furthermore, we explore the possibility to use deep leaning to discover the seismic-print characteristics of oil and gas reservoirs. Preliminary experiments have shown that the deep learning of seismic data could distinguish gas reservoirs from host rocks. The combination of both seismic-print analysis and seismic deep learning is expected to be a more robust reservoir identification method. The work was supported by NSFC under grant No. 41430323 and No. U1562219, and the National Key Research and Development Program under Grant No. 2016YFC0601
Lattimer, Christopher R; Azzam, Mustapha; Kalodiki, Evi; Makris, Gregory C; Geroulakos, George
Graduated elastic compression (GEC) stockings have been demonstrated to reduce the morbidity associated with post-thrombotic syndrome. The ideal length or compression strength required to achieve this is speculative and related to physician preference and patient compliance. The aim of this study was to evaluate the hemodynamic performance of four different stockings and determine the patient's preference. Thirty-four consecutive patients (40 legs, 34 male) with post-thrombotic syndrome were tested with four different stockings (Mediven plus open toe, Bayreuth, Germany) of their size in random order: class 1 (18-21 mm Hg) and class II (23-32 mm Hg), below-knee (BK) and above-knee thigh-length (AK). The median age, Venous Clinical Severity Score, Venous Segmental Disease Score, and Villalta scale were 62 years (range, 31-81 years), 8 (range, 1-21), 5 (range, 2-10), and 10 (range, 2-22), respectively. The C of C0-6EsAs,d,pPr,o was C0 = 2, C2 = 1, C3 = 3, C4a = 12, C4b = 7, C5 = 12, C6 = 3. Obstruction and reflux was observed on duplex in 47.5% legs, with deep venous reflux alone in 45%. Air plethysmography was used to measure the venous filling index (VFI), venous volume, and time to fill 90% of the venous volume. Direct pressure measurements were obtained while lying and standing using the PicoPress device (Microlab Elettronica, Nicolò, Italy). The pressure sensor was placed underneath the test stocking 5 cm above and 2 cm posterior to the medial malleolus. At the end of the study session, patients stated their preferred stocking based on comfort. The VFI, venous volume, and time to fill 90% of the venous volume improved significantly with all types of stocking versus no compression. In class I, the VFI (mL/s) improved from a median of 4.9 (range, 1.7-16.3) without compression to 3.7 (range, 0-14) BK (24.5%) and 3.6 (range, 0.6-14.5) AK (26.5%). With class II, the corresponding improvement was to 4.0 (range, 0.3-16.2) BK (18.8%) and 3.7 (range, 0.5-14.2) AK (24
Hanea, R.; Evensen, G.; Hustoft, L.; Ek, T.; Chitu, A.; Wilschut, F.
Statoil is implementing "Fast Model Update (FMU)," an integrated and automated workflow for reservoir modeling and characterization. FMU connects all steps and disciplines from seismic depth conversion to prediction and reservoir management taking into account relevant reservoir uncertainty. FMU
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
Raaballe, Johannes; Bechmann, Ken L.
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...
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.
Liu, Hongxiao; Ren, Hai; Hui, Dafeng; Wang, Wenqing; Liao, Baowen; Cao, Qingxian
Mangrove forests provide important ecosystem services, and play important roles in terrestrial and oceanic carbon (C) cycling. Although the C stocks or storage in terrestrial ecosystems in China have been frequently assessed, the C stocks in mangrove forests have often been overlooked. In this study, we estimated the C stocks and the potential C stocks in China's mangrove forests by combining our own field data with data from the National Mangrove Resource Inventory Report and from other published literature. The results indicate that mangrove forests in China store about 6.91 ± 0.57 Tg C, of which 81.74% is in the top 1 m soil, 18.12% in the biomass of mangrove trees, and 0.08% in the ground layer (i.e. mangrove litter and seedlings). The potential C stocks are as high as 28.81 ± 4.16 Tg C. On average, mangrove forests in China contain 355.25 ± 82.19 Mg C ha(-1), which is consistent with the global average of mangrove C density at similar latitudes, but higher than the average C density in terrestrial forests in China. Our results suggest that C storage in mangroves can be increased by selecting high C-density species for afforestation and stand improvement, and even more by increasing the mangrove area. The information gained in this study will facilitate policy decisions concerning the restoration of mangrove forests in China. Copyright © 2013 Elsevier Ltd. All rights reserved.
Feagin, R. A.; Eriksson, M.; Hinson, A.; Najjar, R. G.; Kroeger, K. D.; Herrmann, M.; Holmquist, J. R.; Windham-Myers, L.; MacDonald, G. M.; Brown, L. N.; Bianchi, T. S.
Coastal wetlands contain large reservoirs of carbon, and in 2015 the US National Greenhouse Gas Inventory began the work of placing blue carbon within the national regulatory context. The potential value of a wetland carbon stock, in relation to its location, soon could be influential in determining governmental policy and management activities, or in stimulating market-based CO2 sequestration projects. To meet the national need for high-resolution maps, a blue carbon stock database was developed linking National Wetlands Inventory datasets with the USDA Soil Survey Geographic Database. Users of the database can identify the economic potential for carbon conservation or restoration projects within specific estuarine basins, states, wetland types, physical parameters, and land management activities. The database is geared towards both national-level assessments and local-level inquiries. Spatial analysis of the stocks show high variance within individual estuarine basins, largely dependent on geomorphic position on the landscape, though there are continental scale trends to the carbon distribution as well. Future plans including linking this database with a sedimentary accretion database to predict carbon flux in US tidal wetlands.
Bajzak, D.; Bruneau, A.A.
The short and long term effects of flooding on the environment, with special emphasis on trees, in the general area of the Churchill Falls hydroelectric project were investigated. A vegetation mapping and inventory was carried out in 1971, followed by the establishment of ground testlines in black spruce, white birch-balsam fir, and burnt (dead) black spruce stands at the rim of the main reservoir before the reservoir was filled in 1972. Additional field observations were made in 1973, 1974 and 1977. It was found that observed changes in the fluctuating water level zone were most significant. Both erosion of soils, mainly due to wave action, and vertical movement of the ice sheet during winter and the spring thaw, contribute to the uprooting of trees in the zone. Trees removed by the process float and under the action of wind and waves drift until trapped in standing trees or until driven ashore or onto dykes. Patches of accumulated driftwood in strips up to 20 m wide are not uncommon, and trees standing in water in protected coves or extensive shallows are not affected by soil erosion and deteriorate only due to fungal attack. 4 refs., 6 figs., 4 tabs
Victorine, J.; Watney, W.L.; Bhattacharya, S.
The GEMINI (Geo-Engineering Modeling through INternet Informatics) is a public-domain, web-based freeware that is made up of an integrated suite of 14 Java-based software tools to accomplish on-line, real-time geologic and engineering reservoir modeling. GEMINI facilitates distant collaborations for small company and academic clients, negotiating analyses of both single and multiple wells. The system operates on a single server and an enterprise database. External data sets must be uploaded into this database. Feedback from GEMINI users provided the impetus to develop Stand Alone Web Start Applications of GEMINI modules that reside in and operate from the user's PC. In this version, the GEMINI modules run as applets, which may reside in local user PCs, on the server, or Java Web Start. In this enhanced version, XML-based data handling procedures are used to access data from remote and local databases and save results for later access and analyses. The XML data handling process also integrates different stand-alone GEMINI modules enabling the user(s) to access multiple databases. It provides flexibility to the user to customize analytical approach, database location, and level of collaboration. An example integrated field-study using GEMINI modules and Stand Alone Web Start Applications is provided to demonstrate the versatile applicability of this freeware for cost-effective reservoir modeling. ?? 2005 Elsevier Ltd. All rights reserved.
Katterbauer, Klemens; Arango, Santiago; Sun, Shuyu; Hoteit, Ibrahim
Reservoir history matching is assuming a critical role in understanding reservoir characteristics, tracking water fronts, and forecasting production. While production data have been incorporated for matching reservoir production levels
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.
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.
Berk, Istemi [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Aydogan, Berna [Izmir Univ. of Economics (Turkey). Dept. of International Trade and Finance
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.
Curtis L. VanderSchaaf
When used as a measure of relative density, Reinekeâs stand density index (SDI) can be made unitless by relating the current SDI to a standard density but when used as a quantitative measure of stand density SDI is not unitless. Reinekeâs SDI relates the current stand density to an equivalent number of trees per unit area in a stand with a quadratic mean diameter (Dq)...
Garcia Navajas, G. I.; Egea Gea, A.
The first Autonomous Heliostat has been developed by CIEMAT at PSA facilities in Almeria. This heliostat is an innovative approach to reducing the civil engineering work costs in heliostat fields of central tower plants. Channels, cables and other electric elements have been eliminated in the new heliostat. Thus, one 70-nr, classical T glass/metal heliostat has been adapted to include all the new stand-alone concept components. A PV system is able to drive two sun-tracking DC motors between 5 and 24Vdc, 0 and 15A. The heliostat communicates with the control room 400-m away by using a radio-modem working at 9600 baud. An anemometer, a wind switcher, light and ambient temperature sensors have been installed on the heliostat for self-protection decision-making. A PV panel integrated into the heliostat reflecting surface, eliminates cabling and other elements required for a conventional power supply. Communication lines between master control and local control have been replaced by radio-modem. Testing has validated the technical feasibility of the prototype and quantified the real consumption and efficiencies of new elements. The extra costs produced.by the autonomous concepts are compared with the cost of civil work in conventional heliostat field. (Author) 8 refs
Shaheen, H.; Saeed, Y.; Abbasi, M. K.; Khaliq, A.
The carbon sequestration potential of soils plays an important role in mitigating the effect of climate change, because soils serve as sinks for atmospheric carbon. The present study was conducted to estimate the carbon stocks and their variation with altitudinal gradient in the Lesser Himalayan foothills of Kashmir. The carbon stocks were estimated in different land use categories, namely: closed canopy forests, open forests, disturbed forests, and agricultural lands within the altitudinal range from 900 to 2500 m. The soil carbon content was determined by the Walkley-Black titration method. The average soil carbon stock was found to be 2.59 kg m-2. The average soil carbon stocks in closed canopy forests, open forests, and disturbed forests were 3.39, 2.06, and 2.86 kg m-2, respectively. The average soil carbon stock in the agricultural soils was 2.03 kg m-2. The carbon stocks showed a significant decreasing trend with the altitudinal gradient with maximum values of 4.13 kg m-2 at 900-1200 m a.s.l. and minimum value of 1.55 kg m-2 at 2100-2400 m a.s.l. The agricultural soil showed the least carbon content values indicating negative impacts of soil plowing, overgrazing, and soil degradation. Lower carbon values at higher altitudes attest to the immature character of forest stands, as well as to degradation due to immense fuel wood extraction, timber extraction, and harsh climatic conditions. The study indicates that immediate attention is required for the conservation of rapidly declining carbon stocks in agricultural soils, as well as in the soils of higher altitudes.
Xia, Lisi; You, Daming; Jiang, Xin; Guo, Quantong
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.
Full Text Available The study has shown that the accuracy of brakes checking by inertial stands depends upon the applied methods of measurement of braking parameters (stand slowing down, braking distance, brakes triggering time, current speed as well as the methods of metrological checking of measuring system canals.
A. L. Roe; R. E. Benson
A simple procedure for evaluating the diameter growth of young stands in relation to potential growth is described. A comparison technique is developed which contrasts relative diameter of crop trees to the relative diameter growth of the last decade to show the condition and trend of growth in the stand. The method is objective, easy to use, and has several...
Full Text Available Energy storage through hydropower leads to free surface water waves in the connected reservoirs. The reason for this is the movement of water between reservoirs at different elevations, which is necessary for electrical energy storage. Currently, the expansion of renewable energies requires the development of fast and flexible energy storage systems, of which classical pumped storage plants are the only technically proven and cost-effective technology and are the most used. Instead of classical pumped storage plants, where reservoirs are located on the surface, underground pumped storage plants with subsurface reservoirs could be an alternative. They are independent of topography and have a low surface area requirement. This can be a great advantage for energy storage expansion in case of environmental issues, residents’ concerns and an unusable terrain surface. However, the reservoirs of underground pumped storage plants differ in design from classical ones for stability and space reasons. The hydraulic design is essential to ensure their satisfactory hydraulic performance. The paper presents a hybrid model study, which is defined here as a combination of physical and numerical modelling to use the advantages and to compensate for the disadvantages of the respective methods. It shows the analysis of waves in ventilated underground reservoir systems with a great length to height ratio, considering new operational aspects from energy supply systems with a great percentage of renewable energies. The multifaceted and narrow design of the reservoirs leads to complex free surface flows; for example, undular and breaking bores arise. The results show excessive wave heights through wave reflections, caused by the impermeable reservoir boundaries. Hence, their knowledge is essential for a successful operational and constructive design of the reservoirs.
White, Ainslie; Lee, Youngki; Ivanov, Plamen Ch.
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.
Britten, Gregory L; Dowd, Michael; Worm, Boris
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.
Huen, Tan Bee; Arsad, Zainudin; Chun, Ooi Po
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.
Faux, David A.; Hearn, Stephen
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.
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.
Fikru Fentaw Abera
Full Text Available Optimal operation of reservoirs is very essential for water resource planning and management, but it is very challenging and complicated when dealing with climate change impacts. The objective of this paper was to assess existing and future hydropower operation at the Tekeze reservoir in the face of climate change. In this study, a calibrated and validated Soil and Water Assessment Tool (SWAT was used to model runoff inflow into the Tekeze hydropower reservoir under present and future climate scenarios. Inflow to the reservoir was simulated using hydro-climatic data from an ensemble of downscaled climate data based on the Coordinated Regional climate Downscaling Experiment over African domain (CORDEX-Africa with Coupled Intercomparison Project Phase 5 (CMIP5 simulations under Representative Concentration Pathway (RCP4.5 and RCP8.5 climate scenarios. Observed and projected inflows to Tekeze hydropower reservoir were used as input to the US Army Corps of Engineer’s Reservoir Evaluation System Perspective Reservoir Model (HEC-ResPRM, a reservoir operation model, to optimize hydropower reservoir release, storage and pool level. Results indicated that climate change has a clear impact on reservoir inflow and showed increase in annual and monthly inflow into the reservoir except in dry months from May to June under RCP4.5 and RCP8.5 climate scenarios. HEC-ResPRM optimal operation results showed an increase in Tekeze reservoir power storage potential up to 25% and 30% under RCP4.5 and RCP8.5 climate scenarios, respectively. This implies that Tekeze hydropower production will be affected by climate change. This analysis can be used by water resources planners and mangers to develop reservoir operation techniques considering climate change impact to increase power production.
Enhanced recovery methods have become significant in the industry\\'s drive to increase recovery rates from oil and gas reservoirs. For heavy oil reservoirs, the immobility of the oil at reservoir temperatures, caused by its high viscosity, limits the recovery rates and strains the economic viability of these fields. While thermal recovery methods, such as steam injection or THAI, have extensively been applied in the field, their success has so far been limited due to prohibitive heat losses and the difficulty in controlling the combustion process. Electromagnetic (EM) heating via high-frequency EM radiation has attracted attention due to its wide applicability in different environments, its efficiency, and the improved controllability of the heating process. While becoming a promising technology for heavy oil recovery, its effect on overall reservoir production and fluid displacements are poorly understood. Reservoir history matching has become a vital tool for the oil & gas industry to increase recovery rates. Limited research has been undertaken so far to capture the nonlinear reservoir dynamics and significantly varying flow rates for thermally heated heavy oil reservoir that may notably change production rates and render conventional history matching frameworks more challenging. We present a new history matching framework for EM heated heavy oil reservoirs incorporating cross-well seismic imaging. Interfacing an EM heating solver to a reservoir simulator via Andrade’s equation, we couple the system to an ensemble Kalman filter based history matching framework incorporating a cross-well seismic survey module. With increasing power levels and heating applied to the heavy oil reservoirs, reservoir dynamics change considerably and may lead to widely differing production forecasts and increased uncertainty. We have shown that the incorporation of seismic observations into the EnKF framework can significantly enhance reservoir simulations, decrease forecasting
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.
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...
Full Text Available Intensive rainfalls and snow melting often cause floods in protected areas and overflow the existing sewage systems. Such cases are particularly burdensome for the inhabitants and cause considerable physical losses. One of the possible constructional solutions to ensure the effective outflow of stormwater are transfer reservoirs located between the draining system and a receiver set discussed in this paper. If gravity outflow of sewage is impossible, the initial part of sewage volume is accumulated in the transfer reservoir and then it is transferred into the water receiver set. However, gravity discharge of sewage to the water receiver set occurs through transfer chambers in the transfer reservoir.
The squeezing dynamics of a damped harmonic oscillator are studied for different types of environment without making the Markovian approximation. The squeezing dynamics of a coherent state depend on the reservoir spectrum in a unique way that can, in the weak coupling approximation, be analysed analytically. Comparison of squeezing dynamics for ohmic, sub-ohmic and super-ohmic environments is done, showing a clear connection between the squeezing-non-squeezing oscillations and reservoir structure. Understanding the effects occurring due to structured reservoirs is important both from a purely theoretical point of view and in connection with evolving experimental techniques and future quantum computing applications.
Atkinson, C.H.; Ward, Don C.; Lemon, R.F.
The December 10, 1967, Project Gasbuggy nuclear detonation followed the drilling and testing of two exploratory wells which confirmed reservoir characteristics and suitability of the site. Reentry and gas production testing of the explosive emplacement hole indicated a collapse chimney about 150 feet in diameter extending from the 4,240-foot detonation depth to about 3,900 feet, the top of the 300-foot-thick Pictured Cliffs gas sand. Production tests of the chimney well in the summer of 1968 and during the last 12 months have resulted in a cumulative production of 213 million cubic feet of hydrocarbons, and gas recovery in 20 years is estimated to be 900 million cubic feet, which would be an increase by a factor of at least 5 over estimated recovery from conventional field wells in this low permeability area. At the end of production tests the flow rate was 160,000 cubic feet per day, which is 6 to 7 times that of an average field well in the area. Data from reentry of a pre-shot test well and a new postshot well at distances from the detonation of 300 and 250 feet, respectively, indicate low productivity and consequently low permeability in any fractures at these locations. (author)
Atkinson, C H; Ward, Don C [Bureau of Mines, U.S. Department of the Interior (United States); Lemon, R F [El Paso Natural Gas Company (United States)
The December 10, 1967, Project Gasbuggy nuclear detonation followed the drilling and testing of two exploratory wells which confirmed reservoir characteristics and suitability of the site. Reentry and gas production testing of the explosive emplacement hole indicated a collapse chimney about 150 feet in diameter extending from the 4,240-foot detonation depth to about 3,900 feet, the top of the 300-foot-thick Pictured Cliffs gas sand. Production tests of the chimney well in the summer of 1968 and during the last 12 months have resulted in a cumulative production of 213 million cubic feet of hydrocarbons, and gas recovery in 20 years is estimated to be 900 million cubic feet, which would be an increase by a factor of at least 5 over estimated recovery from conventional field wells in this low permeability area. At the end of production tests the flow rate was 160,000 cubic feet per day, which is 6 to 7 times that of an average field well in the area. Data from reentry of a pre-shot test well and a new postshot well at distances from the detonation of 300 and 250 feet, respectively, indicate low productivity and consequently low permeability in any fractures at these locations. (author)
Birhanu, Yelebe; Wilks, Matthew; Biggs, Juliet; Kendall, J.-Michael; Ayele, Atalay; Lewi, Elias
Seasonal variations in the seismicity of volcanic and geothermal reservoirs are usually attributed to the hydrological cycle. Here, we focus on the Aluto-Langano geothermal system, Ethiopia, where the climate is monsoonal and there is abundant shallow seismicity. We deployed temporary networks of seismometers and GPS receivers to understand the drivers of unrest. First, we show that a statistically significant peak in seismicity occurred 2-3 months after the main rainy season, with a second, smaller peak of variable timing. Seasonal seismicity is commonly attributed to variations in either surface loading or reservoir pore pressure. As loading will cause subsidence and overpressure will cause uplift, comparing seismicity rates with continuous GPS, enables us to distinguish between mechanisms. At Aluto, the major peak in seismicity is coincident with the high stand of nearby lakes and maximum subsidence, indicating that it is driven by surface loading. The magnitude of loading is insufficient to trigger widespread crustal seismicity but the geothermal reservoir at Aluto is likely sensitive to small perturbations in the stress field. Thus we demonstrate that monsoonal loading can produce seismicity in geothermal reservoirs, and the likelihood of both triggered and induced seismicity varies seasonally.
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
Full Text Available Excessive sedentary behavior has been associated with many negative health outcomes. While an understudied health topic, there is evidence that university students are excessively sedentary. Sit-stand desks have been shown to reduce sedentary time among pre-university students (ages 5–18years and sedentary workers but have not been tested in university classrooms. This study tested the effects of introducing sit-stand desks into a university classroom on student's classroom sitting and standing behaviors. Using a cross-over design, students received access to both traditional seated desks and sit-stand desks for six weeks. Data were collected between September and December, 2016. We recruited 304 healthy undergraduate university students enrolled in one of two small (25 seats classrooms at a large Midwestern university during the fall of 2016. Average minutes of standing/hour/student, average percent class time spent standing, and the number of sit-stand transitions/student/hour were directly observed with video camera surveillance. Participants stood significantly more (p<0.001 when provided access to sit-stand desks (7.2min/h/student; 9.3% of class time spent standing compared to when they had access to seated desks (0.7min/h/student; 1.6% of class time spent standing but no differences were observed for the number of sit-stand transitions (p=0.47. Students reported high favorability for the sit-stand desks and improvements in several student engagement and affective outcomes while using the sit-stand desks. These findings support introducing sit-stand desks in university classrooms as an approach to reduce sedentary behaviors of university students. Keywords: Sedentary, University students, Sit-stand desk
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.
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...
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.
Botta, Federico; Moat, Helen Susannah; Stanley, H Eugene; Preis, Tobias
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.
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.
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
Jung, Sean S.; Chang, Woojin
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.
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.
Tommerup, Henrik M.; Svendsen, Svend
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...
Regression analyses of the effect of total dissolved solids on fish standing crops in 166 reservoirs produced formulas with coefficients of determination of 0.63 to 0.81. These formulas provide indexes to average biotic conditions and help to identify stressed aquatic environments. Simple predictive formulas are also presented for clupeid crops in various reservoir types, as clupeids are the fishes most frequently impinged or entrained at southern power plants. A method of calculating the adequacy of the available prey crop in relation to the predator crop is advanced to further aid in identification of perturbed prey populations. Assessment of stress as reflected by changes in sport fishing success can also be approached by comparison of the predicted harvest potential with actual fish harvest data. Use of these predictive indexes is recommended until more elaborate models are developed to identify power plant effects
Sun, Xiaoqian; Cheng, Xueqi; Shen, Huawei; Wang, Zhaoyang
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.
Full Text Available Every year Corporate Responsibility Magazine selects and ranks 100 companies on the basis of their corporate social responsibility. This study investigates the stock performance of socially responsible companies in the U.S. The monthly stock returns for these companies are analyzed and compared with the market performance, with the S&P 500 index designated as a proxy for the market. The empirical evidence suggests that these 100 companies outperform the market in their monthly stock returns. We also narrow down the number of companies selected to the top 75, 50, 25, and 10 firms. As we narrow down the companies selected, the difference between their returns and the market returns also narrows. In other words, a portfolio that includes all top 100 companies provides the best stock performance. We extend the analysis to long-term annual stock performance. We find that these socially responsible companies′ annual returns are higher than the market returns for up to seven years after they are listed. We also conduct the same analysis on the top 75, 50, 25, and 10 firms, respectively. Similarly, the larger the number of these top 100 companies, the greater the tendency to generate higher annual returns. We suspect that because the difference between the socially responsible companies′ average returns and the market returns is not dramatic, with a bigger population and thus a larger sample size, the difference becomes more significant. However, in practice, transaction costs must be considered. This study is limited in that it does not consider transaction costs. Nevertheless, we hope to shed some light on the issue of socially responsible companies′ stock performance to encourage companies to start thinking about the importance of corporate social responsibility.
Bourgeois, Lelania; Sheppard, Walter S; Sylvester, H Allen; Rinderer, Thomas E
A genetic stock certification assay was developed to distinguish Russian honey bees from other European (Apis mellifera L.) stocks that are commercially produced in the United States. In total, 11 microsatellite and five single-nucleotide polymorphism loci were used. Loci were selected for relatively high levels of homogeneity within each group and for differences in allele frequencies between groups. A baseline sample consisted of the 18 lines of Russian honey bees released to the Russian Bee Breeders Association and bees from 34 queen breeders representing commercially produced European honey bee stocks. Suitability tests of the baseline sample pool showed high levels of accuracy. The probability of correct assignment was 94.2% for non-Russian bees and 93.3% for Russian bees. A neighbor-joining phenogram representing genetic distance data showed clear distinction of Russian and non-Russian honey bee stocks. Furthermore, a test of appropriate sample size showed a sample of eight bees per colony maximizes accuracy and consistency of the results. An additional 34 samples were tested as blind samples (origin unknown to those collecting data) to determine accuracy of individual assignment tests. Only one of these samples was incorrectly assigned. The 18 current breeding lines were represented among the 2009 blind sampling, demonstrating temporal stability of the genetic stock identification assay. The certification assay will be used through services provided by a service laboratory, by the Russian Bee Breeders Association to genetically certify their stock. The genetic certification will be used in conjunction with continued selection for favorable traits, such as honey production and varroa and tracheal mite resistance.
Viana, Mafalda; Mancy, Rebecca; Biek, Roman; Cleaveland, Sarah; Cross, Paul C; Lloyd-Smith, James O; Haydon, Daniel T
Many pathogens persist in multihost systems, making the identification of infection reservoirs crucial for devising effective interventions. Here, we present a conceptual framework for classifying patterns of incidence and prevalence, and review recent scientific advances that allow us to study and manage reservoirs simultaneously. We argue that interventions can have a crucial role in enriching our mechanistic understanding of how reservoirs function and should be embedded as quasi-experimental studies in adaptive management frameworks. Single approaches to the study of reservoirs are unlikely to generate conclusive insights whereas the formal integration of data and methodologies, involving interventions, pathogen genetics, and contemporary surveillance techniques, promises to open up new opportunities to advance understanding of complex multihost systems. Copyright © 2014 The Authors. Published by Elsevier Ltd.. All rights reserved.
U.S. Environmental Protection Agency — This NYC Reservoirs Watershed Areas (HUC 12) GIS layer was derived from the 12-Digit National Watershed Boundary Database (WBD) at 1:24,000 for EPA Region 2 and...
applications is 3D survey and management of oil and gas facilities and other engineering structures. This recent .... also affect ground water contamination. 2. VERTICALITY ...... The soil, water and concrete in a Reservoir at the foundation bed ...
Fedorov, M. P.; Elistratov, V. V.; Maslikov, V. I.; Sidorenko, G. I.; Chusov, A. N.; Atrashenok, V. P.; Molodtsov, D. V. [St. Petersburg State Polytechnic University (Russian Federation); Savvichev, A. S. [Russian Academy of Sciences, S. N. Vinogradskii Institute of Microbiology (Russian Federation); Zinchenko, A. V. [A. I. Voeikov Main Geophysical Observatory (Russian Federation)
Studies of greenhouse-gas emissions from the surfaces of the world’s reservoirs, which has demonstrated ambiguity of assessments of the effect of reservoirs on greenhouse-gas emissions to the atmosphere, is analyzed. It is recommended that greenhouse- gas emissions from various reservoirs be assessed by the procedure “GHG Measurement Guidelines for Fresh Water Reservoirs” (2010) for the purpose of creating a data base with results of standardized measurements. Aprogram for research into greenhouse-gas emissions is being developed at the St. Petersburg Polytechnic University in conformity with the IHA procedure at the reservoirs impounded by the Sayano-Shushenskaya and Mainskaya HPP operated by the RusHydro Co.
To assure maximized oil recovery from older pools, reservoir description has been advanced by fully integrating original open-hole logs and the recently introduced interpretive techniques made available through cased-hole wireline saturation logs. A refined reservoir description utilizing normalized original wireline porosity logs has been completed in the Judy Creek Beaverhill Lake ''A'' Pool, a reefal carbonate pool with current potential productivity of 100,000 BOPD and 188 active wells. Continuous porosity was documented within a reef rim and cap while discontinuous porous lenses characterized an interior lagoon. With the use of pulsed neutron logs and production data a separate water front and pressure response was recognized within discrete environmental units. The refined reservoir description aided in reservoir simulation model studies and quantifying pool performance. A pattern water flood has now replaced the original peripheral bottom water drive to maximize oil recovery
Mustapha, Moshood K
The influence of physico-chemical properties of Oyun Reservoir, Offa, Nigeria (a shallow tropical African reservoir) on its zooplankton composition and abundance were investigated at three stations for two years between January 2002 and December 2003. Diversity is not high: only three groups of zooplankton were found: Rotifera with eight genera; and Cladocera and Copepoda with three genera each. Rotifera dominated numerically (71.02%), followed by Cladocera (16.45%) and Copepoda (12.53%). The zooplankton was more prevalent during the rainy season, and there were variations in the composition and abundance along the reservoir continuum. Factors such as temperature, nutrients, food availability, shape and hydrodynamics of the reservoir, as well as reproductive strategies of the organisms, strongly influence the generic composition and population density of zooplankton. Prevention of ecological deterioration of the water body would greatly should result in a more productive water body, rich in zooplankton and with better fisheries.
Chavez, Gustavo Ivan; Harbi, Badr M.
A dense volumetric grid coming from an oil/gas reservoir simulation output is translated into a compact representation that supports desired features such as interactive visualization, geometric continuity, color mapping and quad representation. A
case studies will show the degree of variability of the freshwater reservoir effect over short and long timescales. Radiocarbon dating of recent water samples, aquatic plants and animals, shows that age differences of up to 2000 years can occur within one river. In the Limfjord, freshwater influence......The freshwater reservoir effect can result in too high radiocarbon ages of samples from lakes and rivers, including the bones of people whose subsistence was based on freshwater fish, and pottery in which fish was cooked. In my talk, I will explain the causes and consequences of this effect. Two...... caused reservoir ages to vary between 250 and 700 years during the period 5400 BC - AD 700. Finally, I will discuss the implications of the freshwater reservoir effect for radiocarbon dating of Mesolithic pottery from inland sites of the Ertebølle culture in Northern Germany....
Mafalda, Viana; Rebecca, Mancy; Roman, Biek; Sarah, Cleaveland; Cross, Paul C.; James O, Lloyd-Smith; Daniel T, Haydon
Many pathogens persist in multihost systems, making the identification of infection reservoirs crucial for devising effective interventions. Here, we present a conceptual framework for classifying patterns of incidence and prevalence, and review recent scientific advances that allow us to study and manage reservoirs simultaneously. We argue that interventions can have a crucial role in enriching our mechanistic understanding of how reservoirs function and should be embedded as quasi-experimental studies in adaptive management frameworks. Single approaches to the study of reservoirs are unlikely to generate conclusive insights whereas the formal integration of data and methodologies, involving interventions, pathogen genetics, and contemporary surveillance techniques, promises to open up new opportunities to advance understanding of complex multihost systems.
Crossley, R.; McDougall, N. [Robertson Research International Ltd., Llandudno, Conwy (United Kingdom)
This paper provides an overview of features considered significant in the exploration and development of Lower Palaeozoic reservoirs of North Africa. Information is derived from a review of literature on the Lower Palaeozoic successions of North Africa, combined with outcrop observations from the Anti Atlas mountains of Morocco. The focus of the exploration-oriented part of the review is on identification of potential traps other than two-way structural dip closure. Stratigraphic elements described include depositional models of reservoir facies, tectonic unconformities and possible eustatic unconformities. Cases of established or potential trapping by post-depositional faulting by diagenesis and by hydrodynamic flow are examined. Development-related topics highlighted include the impact on reservoir matrix quality of burial diagenesis and of palaeo-weathering at the Hercynian unconformity. Other issues discussed which additionally affect producibility from the reservoir matrix include tectonic fracturing, palaeotopography and unloading fracturing at the Hercynian unconformity, and induced fracturing within the present stress regimes. (author)
... using air or vacuum braking must have either reserve capacity, or a reservoir, that would enable the... have a condensate drain valve that can be manually operated. Automatic condensate drain valves may be...
Mohammed Syedul Islam
Full Text Available Stock market plays a vital role in the economic development of an economy. It bridges up between savers and real manufacturers by raising funds from investors to companies. This process was broken down due to the 2010-2011 stock market crash in Bangladesh. Though the determinants of stock price have been settled empirically, the current paper aims to reexamine the relationship between stock price, dividend and retained earnings of 29 listed banks of Chittagong Stock Exchange, in the post-crash period. Cross-sectional data were collected from secondary sources. Using linear regression method, the study found that both, dividend and retained earnings of sample banks have strong influence over the stock price, though there was moderate explanatory power of those variables. After reviewing the causes of crisis 2010-2011, this study suggests the following: to control price manipulation, to publish proper financial statement, regulate the dividend policy, to ensure sufficient knowledge among investors, recruit technical expert and ensure proper settlement for transactions, prevent crises of stock market against speculation etc.
Gozluklu, Arie; Morin, Annaïg
This paper analyzes the strong comovement between real stock and nominal bond yields at generational (low) frequencies. Life-cycle patterns in savings behavior in an overlapping generations model with cash-in-advance constraints explain this persistent comovement between financial yields. We argue...... that the slow-evolving time-series covariation due to changing population age structure accounts for the equilibrium relation between stock and bond markets. As a result, by exploiting the demographic information into distant future, the forecasting performance of evaluation models improves. Finally, using...
Komo, Darmadi; Chang, Chein-I.; Ko, Hanseok
A neural network approach to stock market index prediction is presented. Actual data of the Wall Street Journal's Dow Jones Industrial Index has been used for a benchmark in our experiments where Radial Basis Function based neural networks have been designed to model these indices over the period from January 1988 to Dec 1992. A notable success has been achieved with the proposed model producing over 90% prediction accuracies observed based on monthly Dow Jones Industrial Index predictions. The model has also captured both moderate and heavy index fluctuations. The experiments conducted in this study demonstrated that the Radial Basis Function neural network represents an excellent candidate to predict stock market index.
Suleyman Gokçen; Ahu Ozturkmen
The purpose of this paper is to analyse the integration versus segmentation issue for the Istanbul Stock Exchange vis-a-vis global developed markets. Two different classes of information variables are used. These are global and local variables. Global variables are the return of the world market portfolio, dividend yield of S&P 500 stock index, U.S. term structure premia and U.S. default risk yield spread. Local variables are the returns, price earning ratios and dividend yields of the Istanb...
Berg, Casper Willestofte
for stock assessment by application of state-of-the-art statistical methodology. The main contributions are presented in the form of six research papers. The major part of the thesis deals with age-structured assessment models, which is the most common approach. Conversion from length to age distributions...... statistical aspects of fish stocks assessment, which includes topics such as time series analysis, generalized additive models (GAMs), and non-linear state-space/mixed models capable of handling missing data and a high number of latent states and parameters. The aim is to improve the existing methods...
Stefán B. Gunnlaugsson
Full Text Available In this article, the results of an extensive study of the weak form efficiency of the Iceland stock market are presented. This study almost covers the market’s entire history, with the research starting at the beginning of 1993 and ending in July 2017. Four trading rules based on 70-day moving averages were constructed and compared with the passive investment strategy of buying the market index. All of these trading rules provided significantly better returns than the passive strategy, even when considering trading costs. This result indicates that the Icelandic stock market did not show weak form efficiency, and past returns predicted future returns during the period examined.
Beuselinck, C.A.C.; Joos, P.P.M.; Khurana, I.K.; van der Meulen, S.
In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and contributes to stock price informativeness as measured by stock return synchronicity. Using a constant sample of 1,904 mandatory IFRS adopters in 14 EU countries for the period 2003-2007, we find a V-shaped pattern in synchronicity around IFRS adoption, which is consistent with IFRS disclosures revealing new firm-specific information in the adoption period (i.e., a reduction of sy...
Full Text Available Accounting treatments represent the methods used by a company to apply its own accounting policies. Accounting treatments can be divided into two categories: basic accounting treatments and alternative treatments. Stocks represent the quantities of material resources, half-finished goods, finished goods which stockpile in supply repositories of the economic entities, with a certain structure and volume, for a certain period of time, in order to ensure continuity and regularity of the manufacturing process and of consumption. Stocks will be acknowledges only when the company is likely to make an economic benefit and when the costs and values can be estimated in a credible way.
Andersen, Steffen; Meisner Nielsen, Kasper
We use a natural experiment to investigate the impact of participation constraints on individuals' decisions to invest in the stock market. Unexpected inheritance due to sudden deaths results in exogenous variation in financial wealth, and allows us to examine whether fixed entry and ongoing...... participation costs cause non-participation. We have three key findings. First, windfall wealth has a positive effect on participation. Second, the majority of households do not react to sizeable windfalls by entering the stock market, but hold on to substantial safe assets—even over longer horizons. Third...