Search results for: Dries Heyman

Authors: Stefaan Pauwels, Koen Inghelbrecht, Dries Heyman, Pieter Marius

Abstract:

Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.

Keywords: technical trading rules, Reality Check, Superior Predictive Ability, emerging stock markets, data snooping

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Authors: T. Thompson, E. F. Zegeye

Abstract:

Bacterial Cellulose (BC) is a structural organic compound produced in the anaerobic process. This material can be a useful eco-friendly substitute for commercial textiles that are used in industries today. BC is easily and sustainably produced and has the capabilities to be used as a replacement in textiles. However, BC is extremely fragile when it completely dries. This research was conducted to improve the mechanical properties of the BC by reinforcing with an organic polymer and exfoliated graphite (EG). The BC films were grown over a period of weeks in a green tea and kombucha solution at 30 °C, then cleaned and added to an enhancing solution. The enhancing solutions were a mixture of 2.5 wt% polymer and 2.5 wt% latex solution, a 5 wt% polymer solution, a 0.20 wt% graphite solution and were each allowed to sit in a furnace for 48 h at 50 °C. Tensile test samples were prepared and tested until fracture at a strain rate of 8 mm/min. From the research with the addition of a 5 wt% polymer solution, the flexibility of the BC has significantly improved with the maximum strain significantly larger than that of the base sample. The addition of EG has also increased the modulus of elasticity of the BC by about 25%.

Keywords: Bacterial cellulose, exfoliated graphite, kombucha scoby, tensile test.

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Authors: Lars A. L. Giske, Ola J. Mork, Emil Bjoerlykhaug

Abstract:

The design of fish processing equipment greatly impacts how easy the cleaning process for the equipment is. This is a critical issue in fish processing, as cleaning of fish processing equipment is a task that is both costly and time consuming, in addition to being very important with regards to product quality. Even more, poorly cleaned equipment could in the worst case lead to contaminated product from which consumers could get ill. This paper will elucidate how equipment design changes could improve the work for the cleaners and saving money for the fish processing facilities by looking at a case for product design improvements. The design of fish processing equipment largely determines how easy it is to clean. “Design for cleaning” is the new hype in the industry and equipment where the ease of cleaning is prioritized gets a competitive advantage over equipment in which design for cleaning has not been prioritized. Design for cleaning is an important research area for equipment manufacturers. SeaSide AS is doing continuously improvements in the design of their products in order to gain a competitive advantage. The focus in this paper will be conveyors for internal logistic and a product called the “electro stunner” will be studied with regards to “Design for cleaning”. Often together with SeaSide’s customers, ideas for new products or product improvements are sketched out, 3D-modelled, discussed, revised, built and delivered. Feedback from the customers is taken into consideration, and the product design is revised once again. This loop was repeated multiple times, and led to new product designs. The new designs sometimes also cause the manufacturing processes to change (as in going from bolted to welded connections). Customers report back that the concrete changes applied to products by SeaSide has resulted in overall more easily cleaned equipment. These changes include, but are not limited to; welded connections (opposed to bolted connections), gaps between contact faces, opening up structures to allow cleaning “inside” equipment, and generally avoiding areas in which humidity and water may gather and build up. This is important, as there will always be bacteria in the water which will grow if the area never dries up. The work of creating more cleanable design is still ongoing, and will “never” be finished as new designs and new equipment will have their own challenges.

Keywords: Cleaning, design, equipment, fish processing, innovation.

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