Search results for: Implied Volatility

Authors: N. Sanmanee, K. Panishkan, K. Obsuwan, S. Dharmvanij

Abstract:

The increments of aromatic structures are widely used to monitor the degree of humification. Compost derived from mix manures mixed with agricultural wastes was studied. The compost collected at day 0, 7, 14, 21, 28, 35, 49, 77, 91, 105, and 119 was divided into 3 stages, initial stage at day 0, thermophilic stage during day 1-48, and mature stage during day 49-119. The change of highest absorptions at wavelength range between 210-235 nm during day 0- 49 implied that small molecules such as nitrates and carboxylic occurred faster than the aromatic molecules that were found at wavelength around 280 nm. The ratio of electron-transfer band at wavelength 253 nm by the benzonoid band at wavelength 230 nm (E253/E230) also gradually increased during the fermenting period indicating the presence of O-containing functional groups. This was in agreement with the shift change from aliphatic to aromatic structures as shown by the relationship with C/N and H/C ratios (r = - 0.631 and -0.717, p< 0.05) since both were decreasing. Although the amounts of humic acid (HA) were not different much during the humification process, the UV spectral deconvolution showed better qualitative characteristics to help in determining the compost quality. From this study, the compost should be used at day 49 and should not be kept longer than 3 months otherwise the quality of HA would decline regardless of the amounts of HA that might be rising. This implied that other processes, such as mineralization had an influence on the humification process changing HA-s structure and its qualities.

Keywords: Compost maturity, UV spectroscopy, humification, humic acid

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1623

Authors: Changhong Guo, Shaomei Fang, Yong He

Abstract:

In this paper, fractional Black-Scholes models for the European option pricing were established based on the fractional G-Brownian motion (fGBm), which generalizes the concepts of the classical Brownian motion, fractional Brownian motion and the G-Brownian motion, and that can be used to be a tool for considering the long range dependence and uncertain volatility for the financial markets simultaneously. A generalized fractional Black-Scholes equation (FBSE) was derived by using the Taylor’s series of fractional order and the theory of absence of arbitrage. Finally, some explicit option pricing formulas for the European call option and put option under the FBSE were also solved, which extended the classical option pricing formulas given by F. Black and M. Scholes.

Keywords: European option pricing, fractional Black-Scholes equations, fractional G-Brownian motion, Taylor’s series of fractional order, uncertain volatility.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 778

Authors: Katleho D. Makatjane, Kalebe M. Kalebe

Abstract:

The present paper used time-varying parameters which are based on the score function of a probability density at time t to model volatility of saving rate. We used a scaled likelihood function to update the parameters of the model overtime. Our results revealed high diligence of time-varying since the location parameter is greater than zero. Furthermore, we discovered a leptokurtic condition on saving rate’s distribution. Kapetanios, Shin-Shell Nonlinear Augmented Dickey-Fuller (KSS-NADF) test showed that the saving rate has a nonlinear unit root; therefore, it can be modeled by a generalised autoregressive score (GAS) model. Additionally, value at risk (VaR) and conditional tail expectation (CTE) indicate that 99% of the time people in Lesotho are saving more than spending. This puts the economy in high risk of not expanding. Therefore, the monetary policy committee (MPC) of Lesotho should revise their monetary policies towards this high saving rates risk.

Keywords: Generalized autoregressive score, time-varying, saving rate, Lesotho.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 568

Authors: Robert Cep, Lenka Ocenasova, Jana Novakova, Karel Kouril, Jan Valicek, Branimir Barisic

Abstract:

This paper deals with the problem of thermal and mechanical shocks, which rising during operation, mostly at interrupted cut. Here will be solved their impact on the cutting edge tool life, the impact of coating technology on resistance to shocks and experimental determination of tool life in heating flame. Resistance of removable cutting edges against thermal and mechanical shock is an important indicator of quality as well as its abrasion resistance. Breach of the edge or its crumble may occur due to cyclic loading. We can observe it not only during the interrupted cutting (milling, turning areas abandoned hole or slot), but also in continuous cutting. This is due to the volatility of cutting force on cutting. Frequency of the volatility in this case depends on the type of rising chips (chip size element). For difficult-to-machine materials such as austenitic steel particularly happened at higher cutting speeds for the localization of plastic deformation in the shear plane and for the inception of separate elements substantially continuous chips. This leads to variations of cutting forces substantially greater than for other types of steel.

Keywords: Cutting Tool Life, Heating, Mechanical Shocks, Thermal Shocks

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2001

Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

Abstract:

The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: Asset allocation, asset performance, sukuk, zero beta asset.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2955

Authors: Attapong T., Hong-Ming Ku, Nakarin M., Narin L., Alisa L, Jirut W.

Abstract:

The quantum mechanics simulation was applied for calculating the interaction force between 2 molecules based on atomic level. For the simple extractive distillation system, it is ternary components consisting of 2 closed boiling point components (A,lower boiling point and B, higher boiling point) and solvent (S). The quantum mechanics simulation was used to calculate the intermolecular force (interaction force) between the closed boiling point components and solvents consisting of intermolecular between A-S and B-S. The requirement of the promising solvent for extractive distillation is that solvent (S) has to form stronger intermolecular force with only one component than the other component (A or B). In this study, the systems of aromatic-aromatic, aromatic-cycloparaffin, and paraffindiolefin systems were selected as the demonstration for solvent selection. This study defined new term using for screening the solvents called relative interaction force which is calculated from the quantum mechanics simulation. The results showed that relative interaction force gave the good agreement with the literature data (relative volatilities from the experiment). The reasons are discussed. Finally, this study suggests that quantum mechanics results can improve the relative volatility estimation for screening the solvents leading to reduce time and money consuming

Keywords: Extractive distillation, Interaction force, Quamtum mechanic, Relative volatility, Solvent extraction.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1565

Authors: Mingyu Zhong, Yi Xie

Abstract:

Results in one field necessarily give insight into the others, and all have much potential for scientific and technological application. The Hadamard-transform technique once been applied to the spectrometry also has its use in the SNR Enhancement of OTDR. In this report, a new set of code (Simplex-codes) is discussed and where the addition gain of SNR come from is implied.

Keywords: Hadamard-transform, matrixes, averaging, opticaltime-domain reflectometry (OTDR).

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1274

Authors: Sara D. Garduño-Diaz, Philippe Y. Garduño-Diaz

Abstract:

To date, one of the few comprehensive indicators for the measurement of food security is the Global Food Security Index (GFSI). This index is a dynamic quantitative and qualitative benchmarking model, constructed from 28 unique indicators, that measures drivers of food security across both developing and developed countries. Whereas the GFSI has been calculated across a set of 109 countries, in this paper we aim to present and compare, for the Middle East and North Africa (MENA), 1) the Food Security Index scores achieved and 2) the data available on affordability, availability, and quality of food. The data for this work was taken from the latest available report published by the creators of the GFSI, which in turn used information from national and international statistical sources. MENA countries rank from place 17/109 (Israel, although with resent political turmoil this is likely to have changed) to place 91/109 (Yemen) with household expenditure spent in food ranging from 15.5% (Israel) to 60% (Egypt). Lower spending on food as a share of household consumption in most countries and better food safety net programs in the MENA have contributed to a notable increase in food affordability. The region has also, however, experienced a decline in food availability, owing to more limited food supplies and higher volatility of agricultural production. In terms of food quality and safety the MENA has the top ranking country (Israel). The most frequent challenges faced by the countries of the MENA include public expenditure on agricultural research and development as well as volatility of agricultural production. Food security is a complex phenomenon that interacts with many other indicators of a country’s wellbeing; in the MENA it is slowly but markedly improving.

Keywords: Diet, food insecurity, global food security index, nutrition, sustainability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3953

Authors: Azelin Mohamed Noor, Abd Mutalib Embong, Muhamad Ridhuan Tony Lim Abdullah

Abstract:

After the Terengganu state government decided to give a boost in teaching and learning through the allocation of free ebooks to all Primary five and six students; it was time to examine the presence of e-books in the classrooms. A survey was conducted on 101 students to determine how they felt about using the e-book and their experiences. It was discovered that a majority of these students liked using the e-book. However, although they had little problems using the e-book and the e-book helped to lighten the schoolbags, these new-age textbooks were not fully utilized. It is implied that perhaps the school administrators, teachers and students may not be able to overcome the unfamiliar characteristics of the e-book and its limitations.

Keywords: E-books, students, classroom, limitations

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4191

Authors: J. R. Wang, J. H. Yang, Y. Chiang, H. C. Chen, C. Shih, S. W. Chen, S. C. Chiang, T. Y. Yu

Abstract:

In this study of ultimate response guideline (URG), Kuosheng BWR/6 nuclear power plant (NPP) TRACE model was established. The reactor depressurization, low pressure water injection, and containment venting are the main actions of URG. This research focuses to evaluate the efficiency of URG under Fukushima-like conditions. Additionally, the sensitivity study of URG was also performed in this research. The analysis results of TRACE present that URG can keep the peak cladding temperature (PCT) below 1088.7 K (the failure criteria) under Fukushima-like conditions. It implied that Kuosheng NPP was at the safe situation.

Keywords: BWR, TRACE, safety analysis, URG.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1143

Authors: Julian Becker, Wiebke Hartmann, Sebastian Bertsch, Johannes Nywlt, Matthias Schmidt

Abstract:

In order to ensure a high service level industrial enterprises have to maintain safety-stock that directly influences the economic efficiency at the same time. This paper analyses established mathematical methods to calculate safety-stock. Therefore, the performance measured in stock and service level is appraised and the limits of several methods are depicted. Afterwards, a new dynamic approach is presented to gain an extensive method to calculate safety-stock that also takes the knowledge of future volatility into account.

Keywords: Inventory dimensioning, material requirement planning, safety-stock calculation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6814

Authors: Fatimah Almah Saaid, Darfiana Nur, Robert King

Abstract:

This paper presents a procedure for estimating VAR using Sequential Discounting VAR (SDVAR) algorithm for online model learning to detect fraudulent acts using the telecommunications call detailed records (CDR). The volatility of the VAR is observed allowing for non-linearity, outliers and change points based on the works of [1]. This paper extends their procedure from univariate to multivariate time series. A simulation and a case study for detecting telecommunications fraud using CDR illustrate the use of the algorithm in the bivariate setting.

Keywords: Telecommunications Fraud, SDVAR Algorithm, Multivariate time series, Vector Autoregressive, Change points.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2216

Authors: Yuli Widiana

Abstract:

The study of implicature which is one of the discussions of pragmatics is such an interesting and challenging topic to discuss. Implicature is such a meaning which is implied in such an utterance which is not the same as its literal meaning. The rapid development of information technology results social networks as media to broadcast messages. The broadcast messages may be in the form of jokes which contain implicature. The research applies the pragmatic equivalent method to analyze the topics of jokes based on the implicatures contained in them. Furthermore, the method is also applied to reveal the purpose of creating implicature in jokes. The findings include the kinds of implicature found in jokes which are classified into conventional implicature and conversational implicature. Then, in detailed analysis, implicature in jokes is divided into implicature related to gender, culture, and social phenomena. Furthermore, implicature in jokes may not only be used to give entertainment but also to soften criticisms or satire so that it does not sound rude and harsh.

Keywords: Implicature, broadcast messages, conventional implicature, conversational implicature.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3232

Authors: Frantisek Bozek, Lenka Jesonkova, Jiri Dvorak

Abstract:

Trihalogenmethanes are the most significant byproducts of the reaction of disinfection agent with organic precursors naturally present in ground and surface waters.Their incidence negatively affects the quality of drinking water in relation to their nephrotoxic, hepatotoxic and genotoxic effects on human health. Taking into consideration the considerable volatility of monitored contaminants it could be assumed that their incidence in drinking water would depend on the distance of sampling from the area of disinfection. Based on the concentration of trihalogenmethanes determined with the help of gas chromatography with mass detector and the analysis of variance (ANOVA) such dependence has been proved as statistically significant. The acquired outcomes will be used for assessing the non-carcinogenic and genotoxic risks to consumers.

Keywords: disinfection byproducts, drinking water, trihalogenmethanes

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1747

Authors: Larisa N. Pop, Irina M. Ban

Abstract:

This paper aims to present the main instruments used in the economic literature for measuring the price risk, pointing out on the advantages brought by the conditional variance in this respect. The theoretical approach will be exemplified by elaborating an EGARCH model for the price returns of wheat, both on Romanian and on international market. To our knowledge, no previous empirical research, either on price risk measurement for the Romanian markets or studies that use the ARIMA-EGARCH methodology, have been conducted. After estimating the corresponding models, the paper will compare the estimated conditional variance on the two markets.

Keywords: conditional variance, GARCH models, price risk, volatility

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1418

Authors: Fakhra Aziz, K. Sulaiman, M. R. Muhammad, M. Hassan Sayyad, Kh. Karimov

Abstract:

This paper presents a comparative study on Vanadyl Phthalocyanine (VOPc) thin films deposited by thermal evaporation and spin coating techniques. The samples were prepared on cleaned glass substrates and annealed at various temperatures ranging form 95oC to 155oC. To obtain the morphological and structural properties of VOPc thin films, X-ray diffraction (XRD) technique and atomic force microscopy (AFM) have been implied. The AFM topographic images show a very slight difference in the thermally grown films, before and after annealing, however best results are achieved for the spin-cast film annealed at 125oC. The XRD spectra show no existence of the sharp peaks, suggesting the material to be amorphous. The humps in the XRD patterns indicate the presence of some crystallites.

Keywords: Annealing, optical properties, thin films, Vanadylphthalocyanine.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2392

Authors: Chien-Song Chyang, Yu-Chi Wang

Abstract:

For sludge disposal, incineration is considered to be better than direct burial because of regulations and space limitations in Taiwan. Additionally, burial after incineration can effectively prolong the lifespan of a landfill. Therefore, it is the most satisfactory method for treating sludge at present. Of the various incineration technologies, the fluidized bed incinerator is a suitable choice due to its fuel flexibility. In this work, sludge generated from industrial plants was treated in a pilot-scale vortexing fluidized bed. The moisture content of the sludge was 48.53%, and its LHV was 454.6 kcal/kg. Primary gas and secondary gas were fixed at 3 Nm³/min and 1 Nm³/min, respectively. Diesel burners with on-off controllers were used to control the temperature; the bed temperature was set to 750±20 °C, and the freeboard temperature was 850±20 °C. The experimental data show that the NO emission increased with bed temperature. The maximum NO emission is 139 ppm, which is in agreement with the regulation. The CO emission is low than 100 ppm through the operation period. The mean particle size of fly ash collected from baghouse decreased with operating time. The ration of bottom ash to fly ash is about 3. Compared with bottom ash, the potassium in the fly ash is much higher. It implied that the potassium content is not the key factor for aggregation of bottom ash.

Keywords: Sludge incineration, fluidized bed combustion, fly ash, bottom ash.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 899

Authors: Dhaksha Vivekanandan

Abstract:

DeFi is a network that avoids reliance on financial intermediaries through its peer-to-peer financial network. DeFi operates outside of government control; hence, it is important for us to understand its impacts. This study employs a literature review to understand DeFi and its emergence, as well as its implications on transparency, social impact, and regulation. Further, three case studies are analysed within the context of these categories. DeFi’s provision of increased transparency poses environmental and storage costs and can lead to user privacy being endangered. DeFi allows for the provision of entrepreneurial incentives and protection against monetary censorship and capital control. Despite DeFi's transparency issues and volatility costs, it has huge potential to reduce poverty; however, regulation surrounding DeFi still requires further tightening by governments.

Keywords: DeFi, transparency, regulation, social impact.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 196

Authors: Nikolaos Sariannidis, Grigoris Giannarakis, Nikolaos Litinas, Nikos Kartalis

Abstract:

This study investigates the relationship between 10 year bond value, Yen/U.S dollar exchange rate, non-farm payrolls (all employs) and crude oil to U.S. Dow Jones Sustainability Index. A GARCH model is used to test these relationships for the period January 1st 1999 to January 31st 2008 using monthly data. Results show that an increase of the 10 year bond and non farm payrolls (all employs) lead to an increase of the D.J.S.I returns. On the contrary the volatility of the Yen/U.S dollar exchange rates as well as the increase of crude oil returns has negative effects on the U.S D.J.S.I returns. This study aims at assisting investors to understand the influences certain macroeconomic indicators have on the companies- stock returns as reported by the D.J.S.I.

Keywords: Bond value, Corporate Social Responsibility, Crudeoil, D.J.S.I United States, Exchange rate, GARCH, Non-farmpayrolls.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1486

Authors: Shashwat Gangwal

Abstract:

This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: Portfolio management, Bitcoin, optimization, Sharpe ratio.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6060

Authors: Ammar Redza Ahmad Rizal, Shahrina Md Nordin, Mohd Shamsuri Saad, Kamariah Ismail

Abstract:

Communication is becoming a significant tool to engage stakeholders since half of the century ago. In the recent years, there has been rapid growth of new technology developments. In tandem with such developments, there has been growing emphasis in communication strategies and management especially in determining the level of influence and management strategies among the said stakeholders on particular field. This paper presents a research conceptual framework focusing on stakeholder theories, communication and management strategies to be implied on the engagement of stakeholders of new technology developments of fertilizer industry in Malaysia. Framework espoused in this paper will provide insights into the various stakeholder theories and engagement strategies from different principal necessary for a successful introduction of new technology development in the above stated industry. The proposed framework has theoretical significance in filling the gap of the body of knowledge in the implementation of communication strategies in Malaysian fertilizer industry.

Keywords: Communication Strategies, Fertilizer Industry, New Technology Development, Stakeholders Management.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2817

Authors: Katleho Daniel Makatjane, Diteboho Lawrence Xaba, Ntebogang Dinah Moroke

Abstract:

The current study investigates the behaviour of time-varying parameters that are based on the score function of the predictive model density at time t. The mechanism to update the parameters over time is the scaled score of the likelihood function. The results revealed that there is high persistence of time-varying, as the location parameter is higher and the skewness parameter implied the departure of scale parameter from the normality with the unconditional parameter as 1.5. The results also revealed that there is a perseverance of the leptokurtic behaviour in stock returns which implies the returns are heavily tailed. Prior to model estimation, the White Neural Network test exposed that the stock price can be modelled by a GAS model. Finally, we proposed further researches specifically to model the existence of time-varying parameters with a more detailed model that encounters the heavy tail distribution of the series and computes the risk measure associated with the returns.

Keywords: Generalized autoregressive score model, stock returns, time-varying.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1003

Authors: Olimpia Matarazzo, Lucia Abbamonte

Abstract:

In two studies we challenged the well consolidated position in regret literature according to which the necessary condition for the emergence of regret is a bad outcome ensuing from free decisions. Without free choice, and, consequently, personal responsibility, other emotions, such as disappointment, but not regret, are supposed to be elicited. In our opinion, a main source of regret is being obliged by circumstance out of our control to chose an undesired option. We tested the hypothesis that regret resulting from a forced choice is more intense than regret derived from a free choice and that the outcome affects the latter, not the former. Besides, we investigated whether two other variables – the perception of the level of freedom of the choice and the choice justifiability – mediated the relationships between choice and regret, as well as the other four emotions we examined: satisfaction, anger toward oneself, disappointment, anger towards circumstances. The two studies were based on the scenario methodology and implied a 2 x 2 (choice x outcome) between design. In the first study the foreseen short-term effects of the choice were assessed; in the second study the experienced long-term effects of the choice were assessed. In each study 160 students of the Second University of Naples participated. Results largely corroborated our hypotheses. They were discussed in the light of the main theories on regret and decision making.

Keywords: Choice, outcome, regret.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1588

Authors: A. N. Gornostaeva, P. I. Bobyleva, E. R. Andreeva, L. B. Buravkova

Abstract:

Multipotent mesenchymal stromal cells (MSCs) possess immunomodulatory properties. The effect of MSCs on the crucial cellular immunity compartment – T-cells is of a special interest. It is known that MSC tissue niche and expected milieu of their interaction with T- cells are characterized by low oxygen concentration, whereas the in vitro experiments usually are carried out at a much higher ambient oxygen (20%). We firstly evaluated immunomodulatory effects of MSCs on T-cells at tissue-related oxygen (5%) after interaction implied cell-to-cell contacts and paracrine factors only. It turned out that MSCs under reduced oxygen can effectively suppress the activation and proliferation of PHAstimulated T-cells and can provoke decrease in the production of proinflammatory and increase in anti-inflammatory cytokines. In hypoxia some effects were amplified (inhibition of proliferation, antiinflammatory cytokine profile shift). This impact was more evident after direct cell-to-cell interaction; lack of intercellular contacts could revoke the potentiating effect of hypoxia.

Keywords: Cell-to-cell interaction, low oxygen, MSC immunosuppression, T-cells.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1637

Authors: Chih-Hsiang Chang

Abstract:

This study aims to explore the relationship between the disposition effect and herding behavior of investors trading Taiwanese information technology stocks. This study differs from previous literature in two aspects. First, in contrast with the earlier studies that focused on investigating investors’ herding behavior, this study explores the possibility that the disposition effect drives investors’ herding behavior. Additionally, it takes an in-depth look at the interdependence between the disposition effect and herding behavior of investors, including lead-lag relationship and volatility transmission effect. Empirical results show that investors trading Taiwan’s information technology stocks exhibit pronounced herding behavior and that the disposition effect has a great impact on their herding behavior.

Keywords: Herding behavior, Disposition effect, Behavioral finance.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2624

Authors: Junjie Gao, Guishi Deng

Abstract:

In order to integrate knowledge in heterogeneous case-based reasoning (CBR) systems, ontology-based CBR system has become a hot topic. To solve the facing problems of ontology-based CBR system, for example, its architecture is nonstandard, reusing knowledge in legacy CBR is deficient, ontology construction is difficult, etc, we propose a novel approach for semi-automatically construct ontology-based CBR system whose architecture is based on two-layer ontology. Domain knowledge implied in legacy case bases can be mapped from relational database schema and knowledge items to relevant OWL local ontology automatically by a mapping algorithm with low time-complexity. By concept clustering based on formal concept analysis, computing concept equation measure and concept inclusion measure, some suggestions about enriching or amending concept hierarchy of OWL local ontologies are made automatically that can aid designers to achieve semi-automatic construction of OWL domain ontology. Validation of the approach is done by an application example.

Keywords: OWL ontology, Case-based Reasoning, FormalConcept Analysis, Knowledge Integration

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1976

Authors: Ruma Bhattacharyya

Abstract:

The basic objective of this paper is to measure and compare the profitability of investments made by the small and marginal farmers of the state of West Bengal in floriculture shifting from the traditional cultivation of paddy. A comparison of IRR is made to establish the fact that cultivation of flowers yield higher returns farmers whose land size is so small that viability of paddy cultivation is raising a question mark. A detailed study of the price behavior of the flower crop has been carried out in which the factors leading to the volatility of the price and the dispersion of the range have also been discussed. Finally the incremental incomes of the farmers have been calculated with the help of imputed income from paddy cultivation and the reported income from the selected flowers. The study shows that the farmers stand gainers if they opt for flower cultivation.

Keywords: Bazar Samity, Floriculture, Marginal Farmers.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3655

Authors: S. Xiao, M. B. Shuai, M. F. Chu

Abstract:

The hydrolysis kinetics of polycrystalline lithium hydride (LiH) in argon at various low humidities was measured by gravimetry and Raman spectroscopy with ambient water concentration ranging from 200 to 1200 ppm. The results showed that LiH hydrolysis curve revealed a paralinear shape, which was attributed to two different reaction stages that forming different products as explained by the 'Layer Diffusion Control' model. Based on the model, a novel two-stage rate equation for LiH hydrolysis reactions was developed and used to fit the experimental data for determination of Li2O steady thickness Hs and the ultimate hydrolysis rate vs. The fitted data presented a rise of Hs as ambient water concentration cw increased. However, in spite of the negative effect imposed by Hs increasing, the upward trend of vs remained, which implied that water concentration, rather than Li2O thickness, played a predominant role in LiH hydrolysis kinetics. In addition, the proportional relationship between vsHs and cw predicted by rate equation and confirmed by gravimetric data validated the model in such conditions.

Keywords: Hydrolysis kinetics, ‘Layer Diffusion Control’ model, Lithium hydride

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1660

Authors: Chen Bi-Hsiang, Yang Hung-Wen, Lou Jie-Chung, Han Jia-Yun

Abstract:

This study was investigated on sampling and analyzing water quality in water reservoir & water tower installed in two kind of residential buildings and school facilities. Data of water quality was collected for correlation analysis with frequency of sanitization of water reservoir through questioning managers of building about the inspection charts recorded on equipment for water reservoir. Statistical software packages (SPSS) were applied to the data of two groups (cleaning frequency and water quality) for regression analysis to determine the optimal cleaning frequency of sanitization. The correlation coefficient (R) in this paper represented the degree of correlation, with values of R ranging from +1 to -1.After investigating three categories of drinking water users; this study found that the frequency of sanitization of water reservoir significantly influenced the water quality of drinking water. A higher frequency of sanitization (more than four times per 1 year) implied a higher quality of drinking water. Results indicated that sanitizing water reservoir & water tower should at least twice annually for achieving the aim of safety of drinking water.

Keywords: cleaning frequency of sanitization, parameters ofwater quality, regression analysis, water reservoir & water tower

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1698

Authors: Emmanuel O.O. Ojakominor, Tian F. Lai

Abstract:

A handful of propagation textbooks that discuss radio frequency (RF) propagation models merely list out the models and perhaps discuss them rather briefly; this may well be frustrating for the potential first time modeller who's got no idea on how these models could have been derived. This paper fundamentally provides an overture in modelling the radio channel. Explicitly, for the modelling practice discussed here, signal strength field measurements had to be conducted beforehand (this was done at 469 MHz); to be precise, this paper primarily concerns empirically/statistically modelling the radio channel, and thus provides results obtained from empirically modelling the environments in question. This paper, on the whole, proposes three propagation models, corresponding to three experimented environments. Perceptibly, the models have been derived by way of making the most use of statistical measures. Generally speaking, the first two models were derived via simple linear regression analysis, whereas the third have been originated using multiple regression analysis (with five various predictors). Additionally, as implied by the title of this paper, both indoor and outdoor environments have been experimented; however, (somewhat) two of the environments are neither entirely indoor nor entirely outdoor. The other environment, however, is completely indoor.

Keywords: RF propagation, radio channel modelling, statistical methods.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2387