Sample records for taiwan stock exchange

  1. Stock Exchange

    ERIC Educational Resources Information Center

    Silverman, Jerry Stuart

    1974-01-01

    Using play money, students buy and sell six types of stock certificates at prices determined periodically by tossing three dice; all students participate as investors, brokers, or banker. In addition to gaining practice on computational skills in a motivational game, students study the real stock market concurrently. (SD)

  2. The price impact of foreign institutional herding on large-size stocks in the Taiwan stock market

    Microsoft Academic Search

    Yang-Cheng LuHao; Hao Fang; Chien-Chung Nieh

    2012-01-01

    This study constructs a panel threshold regression model to explore the price impact of foreign institutional herding of firms\\u000a listed in the Taiwan Stock Exchange during January 2000 to June 2008. Our panel threshold model is constructed to explore\\u000a the price impact of foreign institutional investors’ herding in the Taiwan stock market after controlling the firm size. By\\u000a examining the

  3. Application of neural networks to an emerging financial market: forecasting and trading the Taiwan Stock Index

    Microsoft Academic Search

    An-sing Chen; Mark T. Leung; Hazem Daouk

    2003-01-01

    In this study, we attempt to model and predict the direction of return on market index of the Taiwan Stock Exchange, one of the fastest growing financial exchanges in developing Asian countries. Our motivation is based on the notion that trading strategies guided by forecasts of the direction of price movement may be more effective and lead to higher profits.

  4. The Hollywood Stock Exchange (HSX)

    NSDL National Science Digital Library

    The Hollywood Stock Exchange (HSX) is a stock market game based on the entertainment industry (registration required). According to the logic of HSX, stars have a bond rating based on their popularity and the potential gross sales of films may be traded as stocks. Players are encouraged to research their "MovieStocks" and "StarBonds" via Variety.com or the HSX Journal. Complete game instructions, a glossary of terms, and registration information are provided online.

  5. Detecting Long-range Power-law Correlations in Financial Time Series: A Case on Listed Companies of Taiwan Stock Market

    Microsoft Academic Search

    Huei-Huang Chen; Yi-Lin Huang

    2004-01-01

    In time series analysis, there have been many statistic models widely used; some models could estimate long memory. A new idea for analyzing time series is Detrended Fluctuation Analysis (DFA), which was originally developed for finding long-rage power-law correlations in DNA sequences. We apply DFA to Taiwan stock market for three categories of data: TAIEX (Taiwan Stock Exchange Capitalization Weighted

  6. Competition, Liquidity and Volatility - A Comparative Study of Bombay Stock Exchange and National Stock Exchange

    Microsoft Academic Search

    Chandrasekhar Krishnamurti; Eugene Lim

    2000-01-01

    India currently has two major stock exchanges: The Bombay Stock Exchange and theNational Stock Exchange. There are important differences in ownership structure,geographic reach, internal control systems and institutionalised risk managementfacilities between the Bombay Stock Exchange and the National Stock Exchange.The purpose of this study is to examine if these significant structural differencesbetween these stock exchanges contribute to variations in observed

  7. Exchange trading rules and stock market liquidity

    Microsoft Academic Search

    Douglas Cumming; Sofia Johan; Dan Li

    2011-01-01

    We examine stock exchange trading rules for market manipulation, insider trading, and broker–agency conflict, across countries and over time, in 42 stock exchanges around the world. Some stock exchanges have extremely detailed rules that explicitly prohibit specific manipulative practices, but others use less precise and broadly framed rules. We create new indices for market manipulation, insider trading, and broker–agency conflict

  8. Mining stock category association and cluster on Taiwan stock market

    Microsoft Academic Search

    Shu-hsien Liao; Hsu-hui Ho; Hui-wen Lin

    2008-01-01

    One of the most important problems in modern finance is finding efficient ways to summarize and visualize the stock market data to give individuals or institutions useful information about the market behavior for investment decisions. The enormous amount of valuable data generated by the stock market has attracted researchers to explore this problem domain using different methodologies. This paper investigates

  9. Using multi-stage data mining technique to build forecast model for Taiwan stocks

    Microsoft Academic Search

    Chien-Jen Huang; Peng-Wen Chen; Wen-Tsao Pan

    Taiwan stock market trend is fast changing. It is affected by not only the individual investors and the three major institutional\\u000a investors, but also impacted by domestic political and economic situations. Therefore, to precisely grasp the stock market\\u000a movement, one must build a perfect stock forecast model. In this article, we used a multi-stage optimized stock forecast model\\u000a to grasp

  10. Price clustering on the Australian Stock Exchange

    Microsoft Academic Search

    Michael Aitken; Philip Brown; Christine Buckland; H. Y. Izan; Terry Walter

    1996-01-01

    Price clustering is manifest in some prices being observed more frequently than others, when underlying value is uniformly distributed over the range of admissible prices. It is frequently observed in financial markets. We investigate clustering in individual trades effected on the Australian Stock Exchange's wholly computerised, order-driven trading system. We find that price clustering is pervasive, tending to follow an

  11. Price Clustering on the Tokyo Stock Exchange

    Microsoft Academic Search

    Carole Comerton-Forde; Thomas H. McInish

    2007-01-01

    AbstractThis paper examines price clustering on the Tokyo Stock Exchange (TSE). Regardless of tick and lot size, prices ending in zero and five are the most popular. The TSE has no market makers or direct negotiation between traders; therefore, clustering is not explained by collusion or negotiation. Our evidence supports the attraction hypothesis. Clustering also extends to order book depth.

  12. Gambling on the Budapest stock exchange

    Microsoft Academic Search

    I. M. Jánosi; John von Neumann

    2000-01-01

    :   The statistical properties of the total yield are analyzed for an assembly of gamblers in an erratic period on the Budapest\\u000a stock exchange. Random trading results in a log-normal limit distribution of a surprisingly large width, while the simplest\\u000a profit realizing strategy narrows down the peak around a positive average value. The effect of transaction costs, the statistics\\u000a of

  13. An empirical investigation of Australian Stock Exchange Data.

    E-print Network

    Sydney, University of

    during non­trading periods, such as after hours trading and dual­listed stocks. A new approach traded 1 stocks on the ASX. If p t represents the price of a stock at time t then we define the returnAn empirical investigation of Australian Stock Exchange Data. William Bertram School of Mathematics

  14. An empirical investigation of Australian Stock Exchange Data.

    E-print Network

    Sydney, University of

    during non-trading periods, such as after hours trading and dual-listed stocks. A new approach traded 1 stocks on the ASX. If pt represents the price of a stock at time t then we define the returnAn empirical investigation of Australian Stock Exchange Data. William Bertram School of Mathematics

  15. Trading activity and stock price volatility: evidence from the London Stock Exchange

    Microsoft Academic Search

    Roger D. Huang; Ronald W. Masulis

    2003-01-01

    Analysis of transactions data for the Financial Times Stock Exchange (FTSE-100) stock index on the London Stock Exchange (LSE) shows that trade frequency and average trade size impact price volatility for small trades (i.e. trades of one normal market size (NMS) or less). For large trades, only trade frequency affects price volatility. In further splitting small trades by relative size,

  16. Essays on Monetary Policy, Stock Market and Foreign Exchange Reserve

    E-print Network

    Jiang, Cheng

    2014-01-01

    the clustering in movement of different stock exchanges andthe clustering of shifts of a variety of popular stockclustering of shifts between upward and downward tendency of a variety of popular stock

  17. Forecasting volatility: Evidence from the Macedonian stock exchange

    Microsoft Academic Search

    Zlatko J. Kova?i?

    2007-01-01

    This paper investigates the behavior of stock returns in an emerging stock market namely, the Macedonian Stock Exchange, focusing on the relationship between returns and conditional volatility. The conditional mean follows a GARCH-M model, while for the conditional variance one symmetric (GARCH) and four asymmetric GARCH types of models (EGARCH, GJR, TARCH and PGARCH) were tested. We examine how accurately

  18. Dividend Signalling Equilibria: Quantitative Evidence from the Brussels Stock Exchange

    Microsoft Academic Search

    Francisca M. Beer

    1993-01-01

    The objective of this research is to document the market reaction to dividend changes on the Brussels Stock Exchange and to relate it to information releases by the firms. The results show important differences between Belgian investors' behavior and U.S. investors' behavior. On the Brussels Stock Exchange, when companies use dividends as the usual way to remunerate stockholders, the market

  19. LIQUIDITY, STOCK RETURNS AND OWNERSHIP STRUCTURE: AN EMPIRICAL STUDY OF THE BOMBAY STOCK EXCHANGE

    Microsoft Academic Search

    Venkat R. Eleswarapu; Chandrasekar Krishnamurti

    We study the problem of illiquidity that afflicts the stocks listed on the Bombay Stock Exchange (B.S.E.). Trading on a regular basis is concentrated in only a few of the listed stocks. We examine this issue by empirically looking at the characteristics of firms leading to differential levels of trading frequency and also, the resultant effect on average returns. Based

  20. A study of ubiquitous information seeking behavior of the investor in Taiwan’s stock market

    Microsoft Academic Search

    Wei-Hsin Chang; Chih-Yung Chen; Chen-Shan Yu

    2008-01-01

    For the investor, the critical issue is to find the good investment information for decision making in the boundless information sea. The early stock market information is belongs opaquely. Investor, who has the first hand information, can make a big profit in stock market. In the recent years, cable TV and the Internet become more popularize. Today, they have become

  1. Non-equilibrium stochastic model for stock exchange market

    NASA Astrophysics Data System (ADS)

    Kim, Yup; Kwon, Ikhyun; Yook, Soon-Hyung

    2013-12-01

    We study the effect of the topology of industrial relationship (IR) between the companies in a stock exchange market on the universal features in the market. For this we propose a stochastic model for stock exchange markets based on the behavior of technical traders. From the numerical simulations we measure the return distribution, P(R), and the autocorrelation function of the volatility, C(T), and find that the observed universal features in real financial markets are originated from the heterogeneity of IR network topology. Moreover, the heterogeneous IR topology can also explain Zipf-Pareto’s law for the distribution of market value of equity in the real stock exchange markets.

  2. Conducting Event Studies on a Small Stock Exchange

    Microsoft Academic Search

    Jan Bartholdy; Dennis Olson; Paula Peare

    2007-01-01

    This paper analyses whether it is possible to perform an event study on a small stock exchange with thinly trade stocks. The main conclusion is that event studies can be performed provided that certain adjustments are made. First, a minimum of 25 events appears necessary to obtain acceptable size and power in statistical tests. Second, trade to trade returns should

  3. Financial Sector Risk and the Stock Returns: Evidence from Tokyo Stock Exchange Firms

    Microsoft Academic Search

    Keiichi Kubota; Hitoshi Takehara

    2003-01-01

    We investigate whether the activity of financial firms creates value and\\/or risk to the economy within the asset pricing framework. We use stock return data from nonfinancial firms listed in the first section of the Tokyo Stock Exchange. The value-weighted index that is solely composed of nonfinancial firms is augmented with the index of the firms from the financial sector,

  4. Modeling Philippine Stock Exchange Composite Index Using Time Series Analysis

    NASA Astrophysics Data System (ADS)

    Gayo, W. S.; Urrutia, J. D.; Temple, J. M. F.; Sandoval, J. R. D.; Sanglay, J. E. A.

    2015-06-01

    This study was conducted to develop a time series model of the Philippine Stock Exchange Composite Index and its volatility using the finite mixture of ARIMA model with conditional variance equations such as ARCH, GARCH, EG ARCH, TARCH and PARCH models. Also, the study aimed to find out the reason behind the behaviorof PSEi, that is, which of the economic variables - Consumer Price Index, crude oil price, foreign exchange rate, gold price, interest rate, money supply, price-earnings ratio, Producers’ Price Index and terms of trade - can be used in projecting future values of PSEi and this was examined using Granger Causality Test. The findings showed that the best time series model for Philippine Stock Exchange Composite index is ARIMA(1,1,5) - ARCH(1). Also, Consumer Price Index, crude oil price and foreign exchange rate are factors concluded to Granger cause Philippine Stock Exchange Composite Index.

  5. Liquidity and the Simple IO of Stock Exchanges

    Microsoft Academic Search

    Alexander Galetovic; Felipe Zurita

    2002-01-01

    It is usually thought that network externalities, which are inherent to liquidity, make it desirable to concentrate transactions in one stock exchange. This paper shows that when the value of liquidity stems from the ability of potentially reach as many traders as possible, the market is integrated when every broker meets every other broker in at least one exchange. Thus,

  6. Liquidity and the Simple Industrial Organization of Stock Exchanges

    Microsoft Academic Search

    Felipe Zurita; Alexander Galetovic

    2002-01-01

    It is usually thought that network externalities, which are inherent to liquidity, make it desirable to concentrate transactions in one stock exchange. This paper shows that when the value of liquidity stems from the ability of potentially reach as many traders as possible, the market is integrated when every broker meets every other broker in at least one exchange. Thus,

  7. Tremor price dynamics in the worlds network of stock exchanges

    E-print Network

    Andersen, Jorgen Vitting; Giulia,; Parrott, Lael

    2009-01-01

    We use insight from a model of earth techtonic plate movement to obtain a new understanding of the build up and release of stress in the price dynamics of the worlds stock exchanges. Nonlinearity enters the model due to a behavioral attribute of humans reacting disproportionately to big changes. This nonlinear response allows us to classify price movements of a given stock index as either being generated due to specific economic news for the country in question, or by the ensemble of the worlds stock exchanges reacting together like a complex system. Similar in structure to the Capital Asset Pricing Model in Finance, the model predicts how an individual stock exchange should be priced in terms of the performance of the global market of exchanges, but with human behavioral characteristics included in the pricing. A number of the models assumptions are validated against empirical data for 24 of the worlds leading stock exchanges. We show how treshold effects can lead to synchronization in the global network of ...

  8. “Price-Quakes” Shaking the World's Stock Exchanges

    PubMed Central

    Andersen, Jørgen Vitting; Nowak, Andrzej; Rotundo, Giulia; Parrott, Lael; Martinez, Sebastian

    2011-01-01

    Background Systemic risk has received much more awareness after the excessive risk taking by major financial instituations pushed the world's financial system into what many considered a state of near systemic failure in 2008. The IMF for example in its yearly 2009 Global Financial Stability Report acknowledged the lack of proper tools and research on the topic. Understanding how disruptions can propagate across financial markets is therefore of utmost importance. Methodology/Principal Findings Here, we use empirical data to show that the world's markets have a non-linear threshold response to events, consistent with the hypothesis that traders exhibit change blindness. Change blindness is the tendency of humans to ignore small changes and to react disproportionately to large events. As we show, this may be responsible for generating cascading events—pricequakes—in the world's markets. We propose a network model of the world's stock exchanges that predicts how an individual stock exchange should be priced in terms of the performance of the global market of exchanges, but with change blindness included in the pricing. The model has a direct correspondence to models of earth tectonic plate movements developed in physics to describe the slip-stick movement of blocks linked via spring forces. Conclusions/Significance We have shown how the price dynamics of the world's stock exchanges follows a dynamics of build-up and release of stress, similar to earthquakes. The nonlinear response allows us to classify price movements of a given stock index as either being generated internally, due to specific economic news for the country in question, or externally, by the ensemble of the world's stock exchanges reacting together like a complex system. The model may provide new insight into the origins and thereby also prevent systemic risks in the global financial network. PMID:22073168

  9. Modeling heavy-tailed returns in emerging markets: With an application to the Taiwan Stock Index and its futures

    Microsoft Academic Search

    Wei-han Liu

    2002-01-01

    This thesis focuses on two topics in financial risk management: optimal hedge ratios and portfolio value-at-risk (VaR). The empirical analysis is based on the daily return series for the Taiwan stock market index and two associated futures contracts. The sample period for the daily data covers 1998 to 2001. ^ In Chapter 2, we examine optimal hedging of equity positions

  10. From Buttonwood to Silicon--A Bicentennial Look at the New York Stock Exchange.

    ERIC Educational Resources Information Center

    Pahl, Ronald H.

    1992-01-01

    Introduces a journal issue devoted to the New York Stock Exchange. Describes the formation and development of the stock exchange and Wall Street. Discusses the connection between politics and finance and the economic changes in formerly socialist nations. Suggests that the New York Stock Exchange may have to convert to a computer trading system.…

  11. Sector Identification in a Set of Stock Return Time Series Traded at the London Stock Exchange

    NASA Astrophysics Data System (ADS)

    Coronnello, C.; Tumminello, M.; Lillo, F.; Micciche, S.; Mantegna, R. N.

    2005-09-01

    We compare some methods recently used in the literature to detect the existence of a certain degree of common behavior of stock returns belonging to the same economic sector. Specifically, we discuss methods based on random matrix theory and hierarchical clustering techniques. We apply these methods to a portfolio of stocks traded at the London Stock Exchange. The investigated time series are recorded both at a daily time horizon and at a 5-minute time horizon. The correlation coefficient matrix is very different at different time horizons confirming that more structured correlation coefficient matrices are observed for long time horizons. All the considered methods are able to detect economic information and the presence of clusters characterized by the economic sector of stocks. However, different methods present a different degree of sensitivity with respect to different sectors. Our comparative analysis suggests that the application of just a single method could not be able to extract all the economic information present in the correlation coefficient matrix of a stock portfolio.

  12. Common Shares Performance Evaluation for Companies Listed at Amman Stock Exchange

    Microsoft Academic Search

    Mohammad Al-Shiab; Ali Al-Alawneh

    In this paper an attempt was made to evaluate empirically the common stock performance for companies listed at Amman Stock Exchange (ASE) by adopting the security market line (SML) approach. The study used 82 of Jordanian Companies listed at Amman Stock Exchange (ASE), one of the emerging markets, and observed the monthly returns of these firms over the period January1996-

  13. Dynamic Pairs Trading Strategy For The Companies Listed In The Istanbul Stock Exchange

    Microsoft Academic Search

    Evren Bolgun; Engin Kurun; Serhat Guven

    2009-01-01

    In this research we performed pairs trading strategy based on a comparative mean reversion of asset prices with daily data over the period 2002 through 2008 in Istanbul Stock Exchange. We did not categorize stock pairs by sectors and therefore it is possible to observe mean reversion characteristics of different stocks that are selected from ISE-30 index. The initial formation

  14. Bid-ask Spreads, Trading Volume and Volatility: Intraday Evidence from the London Stock Exchange

    Microsoft Academic Search

    A. Abhyankar; D. Ghosh; E. Levin; R. J. Limmack

    1997-01-01

    This paper examines intra-day variations in the bid-ask spread, volatility and volume for stocks traded on the London Stock Exchange. The data set used consists of quote and transactions data for a large sample of 835 stocks traded during the first quarter of 1991. The focus of the study is twofold; first, is to document a number of stylized facts

  15. Market Quote and Spread Component Cost Behavior around Trading Halts for Stocks Interlisted on the Montreal and Toronto Stock Exchanges

    Microsoft Academic Search

    Lawrence Kryzanowski; Howard Nemiroff

    2001-01-01

    We use intraday quotes and transactions on halted securities that interlisted on the Toronto Stock Exchange and Montreal Exchange to decompose the spreads and examine quote depths. Our results show that order-processing costs differ for trading halts at the open compared to halts during the rest of the trading day. We find that the adverse-selection cost component of the spread

  16. 75 FR 28842 - Self-Regulatory Organizations; Proposed Rule Change by Chicago Stock Exchange, Inc.; Notice of...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-05-24

    ...primary listing market for such stock issues a trading pause. The primary listing...Exchange will pause trading in that stock until trading has resumed on the primary listing...passed since the individual stock trading pause message has been...

  17. Stock Prices And Its Relation With Crude Oil Prices And Exchange Rates in India

    Microsoft Academic Search

    S. V. Seshaiah; C. Behera

    2009-01-01

    This paper analyzes empirically whether the exchange rates and crude oil prices have explanatory power over Indian Stock market prices or not. The data used for this study are daily stock price indexes of BSE Sensex, Crude oil price and exchange rates for the period 2nd January 1991 – 12th ,December 2007. Engel granger and cointegration tests, VECM and variance

  18. Correlations and clustering in the trading of members of the London Stock Exchange

    E-print Network

    Correlations and clustering in the trading of members of the London Stock Exchange Ilija I. Zovko analyzes correlations in patterns of trading of different members of the London Stock Exchange into correlated and anti-correlated groups. Clustering techniques using the correlations as a distance metric

  19. Market capitalization and efficiency. Does it matter? Evidence from the Athens Stock Exchange

    Microsoft Academic Search

    Theodore Panagiotidis

    2005-01-01

    The efficient market hypothesis (EMH) is tested in the case of the Athens Stock Exchange (ASE) after the introduction of the euro for three different indices. The underlying assumption is that stock prices would be more transparent; their performance easier to compare; the exchange rate risk eliminated and as a result we expect the new currency to strengthen the argument

  20. Building a national electronic medical record exchange system - experiences in taiwan.

    PubMed

    Li, Yu-Chuan Jack; Yen, Ju-Chuan; Chiu, Wen-Ta; Jian, Wen-Shan; Syed-Abdul, Shabbir; Hsu, Min-Huei

    2015-08-01

    There are currently 501 hospitals and about 20,000 clinics in Taiwan. The National Health Insurance (NHI) system, which is operated by the NHI Administration, uses a single-payer system and covers 99.9% of the nation's total population of 23,000,000. Taiwan's NHI provides people with a high degree of freedom in choosing their medical care options. However, there is the potential concern that the available medical resources will be overused. The number of doctor consultations per person per year is about 15. Duplication of laboratory tests and prescriptions are not rare either. Building an electronic medical record exchange system is a good method of solving these problems and of improving continuity in health care. In November 2009, Taiwan's Executive Yuan passed the 'Plan for accelerating the implementation of electronic medical record systems in medical institutions' (2010-2012; a 3-year plan). According to this plan, a patient can, at any hospital in Taiwan, by using his/her health insurance IC card and physician's medical professional IC card, upon signing a written agreement, retrieve all important medical records for the past 6 months from other participating hospitals. The focus of this plan is to establish the National Electronic Medical Record Exchange Centre (EEC). A hospital's information system will be connected to the EEC through an electronic medical record (EMR) gateway. The hospital will convert the medical records for the past 6 months in its EMR system into standardized files and save them on the EMR gateway. The most important functions of the EEC are to generate an index of all the XML files on the EMR gateways of all hospitals, and to provide search and retrieval services for hospitals and clinics. The EEC provides four standard inter-institution EMR retrieval services covering medical imaging reports, laboratory test reports, discharge summaries, and outpatient records. In this system, we adopted the Health Level 7 (HL7) Clinical Document Architecture (CDA) standards to generate clinical documents and Integrating the Healthcare Enterprise (IHE) Cross-enterprise Document Sharing (XDS) profile for the communication infrastructure. By December of 2014, the number of hospitals that provide an inter-institution EMR exchange service had reached 321. Hospitals that had not joined the service were all smaller ones with less than 100 beds. Inter-institution EMR exchange can make it much easier for people to access their own medical records, reduce the waste of medical resources, and improve the quality of medical care. The implementation of an inter-institution EMR exchange system faces many challenges. This article provides Taiwan's experiences as a reference. PMID:26001420

  1. A BEHAVIOURAL FINANCE MODEL OF EXCHANGE RATE EXPECTATIONS WITHIN A STOCK?FLOW CONSISTENT FRAMEWORK

    Microsoft Academic Search

    Marc Lavoie; Gauthier Daigle

    2011-01-01

    ABSTRACTThe paper combines behavioural finance to a stock?flow consistent model of a two?country economy in the portfolio tradition, with imperfect asset substitutability. ‘Conventionalists’ and ‘chartists’ set their expectations of changes in exchange rates based on some assessed fundamental value and past trends, respectively. We find that exchange rate expectations have a significant effect on exchange rate movements and trade account

  2. The price impact of trading on the stock exchange of Hong Kong

    Microsoft Academic Search

    Yue-Cheong Chan

    2000-01-01

    In this paper I study the price formation process on the Stock Exchange of Hong Kong (SEHK). The estimation results reveal that the information effect is more important than the inventory effect in explaining the transaction price movement. The cross-sectional variation in market depth is positively related to the stocks’ market capitalization, turnover rate, trading price, and trading noise. The

  3. An analysis of intraday patterns in price clustering on the Tokyo Stock Exchange

    Microsoft Academic Search

    Wataru Ohta

    2006-01-01

    Stock prices tend to cluster at round numbers, a phenomenon observed in many markets. Using tick-by-tick transaction data, this article studies price clustering on the Tokyo Stock Exchange, which is a computerized limit order market. As for the intraday pattern, the degree of price clustering is greatest at the market opening. Then, it decreases during the first half hour and

  4. International transmission of stock exchange volatility: Empirical evidence from the Asian crisis

    Microsoft Academic Search

    Ángeles Fernández-Izquierdo; Juan Angel Lafuente

    2004-01-01

    This paper examines the dynamic linkages between international stock market volatility during the Asian crisis in 12 relevant stock exchanges at an international level: Argentina, Chile, Germany, Hong Kong, Italy, Japan, Mexico, Singapore, South Korea, Spain, United Kingdom, and the United States. In particular, we focus on the contagion hypothesis around the world. Our approach is based on a two-stage

  5. Computerising gentlemen: the automation of the London Stock Exchange, c. 1945-1995 

    E-print Network

    Pardo-Guerra, Juan Pablo

    2011-01-01

    This dissertation concerns the development of market information technologies in the London Stock Exchange, c. 1945-1992. Based on archival research in London, Cambridge and Edinburgh, and 20 semistructured interviews ...

  6. Structural Changes on Warsaw's Stock Exchange: the end of Financial Crisis

    E-print Network

    Fiedor, Pawel?

    2013-01-01

    In this paper we analyse the structure of Warsaw's stock market using complex systems methodology together with network science and information theory. We find minimal spanning trees for log returns on Warsaw's stock exchange for yearly times series between 2000 and 2013. For each stock in those trees we calculate its Markov centrality measure to estimate its importance in the network. We also estimate entropy rate for each of those time series using Lempel-Ziv algorithm based estimator to study the predictability of those price changes. The division of the studied stocks into 26 sectors allows us to study the changing structure of the Warsaw's stock market and conclude that the financial crisis sensu stricto has ended on Warsaw's stock market in 2012-13. We also comment on the history and the outlook of the Warsaw's market based on the log returns, their average, variability, entropy and the centrality of a stock in the dependency network.

  7. Volatility effect of ETFs on the constituents of the underlying Taiwan 50 Index

    Microsoft Academic Search

    Ching-Chung Lin; Min-Hsien Chiang

    2005-01-01

    Owing to the growing importance of the Taiwan Top 50 Tracker Fund (TTT), the first and the only Taiwanese Exchange Traded Fund (ETF), this study investigates the change in the volatility of the component stocks of the Taiwan 50 Index after the introduction of TTT. Using the volatility measure proposed by Andersen et al. (2001) and the unconditional variance of

  8. The impact of speculative trading on stock return volatility: the evidence from Taiwan

    Microsoft Academic Search

    Chin-Wen Hsin; Wen-Chung Guo; Seng-Su Tseng; Wen-Chih Luo

    2003-01-01

    In this article we take advantage of the market characteristics of Taiwan to examine the empirical evidence on the impact of speculative trading on return volatilities, in regard to the existing contrasting theories and limited empirical studies. Our results suggest that characterizations of speculative trades predicted by contrasting theories may exist in the market at the same time. The evidence

  9. Day Trading: Making and Taking Liquidity and Manipulation on the National Stock Exchange of India

    E-print Network

    Lin, Xiaodong

    Day Trading: Making and Taking Liquidity and Manipulation on the National Stock Exchange of India Exchange, while maintaining its trading floor is virtually empty on a typical trading day. The Specialist other analysis of data that provides client codes: "Day trading in equilibrium" (Barber, Lee, Liu

  10. Building portfolios of stocks in the S\\\\~ao Paulo Stock Exchange using Random Matrix Theory

    Microsoft Academic Search

    Leonidas Sandoval Junior; Adriana Bruscato

    2012-01-01

    Using Random Matrix Theory, we build a covariance matrix between stocks of the BM&F-Bovespa (Bolsa de Valores, Mercadorias e Futuros de S\\\\~ao Paulo) which is cleaned of some of the noise due to the complex interactions between the many stocks and the finiteness of available data, and use a regression model in order to remove the market effect due to

  11. Insider ownership, bid–ask spread, and stock splits: Evidence from the Stock Exchange of Thailand

    Microsoft Academic Search

    Maneeporn Gorkittisunthorn; Seksak Jumreornvong; Piman Limpaphayom

    2006-01-01

    This paper examines the moderating effect of insider ownership on bid–ask spread changes during stock splits in Thailand, an economy with highly concentrated ownership structures. Consistent with the liquidity hypothesis, the overall finding shows that bid–ask spread declines significantly after stock splits. The results also indicate that there is a significant relation between insider ownership and the change in bid–ask

  12. Statistical Analysis of the Stock Index of the Budapest Stock Exchange

    E-print Network

    J. Rotyis; G. Vattay

    1997-11-03

    Scaling properties of the BUX index are similar to those observed in other parts of the world. The main difference is that the traditional quantities like volatility, growth and autocorrelation of returns follows more closely the assumptions of the traditional stock market theory developed by Bachelier and by Black and Scholes.

  13. Market efficiency and the Euro: the case of the Athens stock exchange

    Microsoft Academic Search

    Theodore Panagiotidis

    2010-01-01

    The behaviour of an emerging market, the Athens Stock Exchange, after the introduction of the euro is investigated. The latter\\u000a would make its returns easier to compare; reduce uncertainty; eliminate the exchange rate risk and as a result we expect the\\u000a new currency to strengthen the argument, in favour of the EMH. The General ASE Composite Index and the FTSE\\/ASE

  14. Price clustering on the limit-order book: Evidence from the Stock Exchange of Hong Kong

    Microsoft Academic Search

    Hee-Joon Ahn; Jun Cai; Yan Leung Cheung

    2005-01-01

    We examine the clustering pattern in trade and quote prices on the electronic limit order book of the Stock Exchange of Hong Kong (SEHK). Earlier research into clustering focuses on transaction prices only. We study clustering on quote prices over a maximum of five queues on the limit order book. We observe an abnormally high frequency of even and integer

  15. Intraday Trading Behavior around Interim Earnings Announcements on the Helsinki Stock Exchange

    Microsoft Academic Search

    Markku Vieru

    1999-01-01

    The article finds evidence from the Helsinki Stock Exchange that the widely documented U-shapepattern in trading activity - namely heavy trading in the beginning and at the end of the trading dayand relatively light trading in the middle of the day - is affected by an anticipated informationevent (i.e. interim earnings announcement). Before the announcement day, trading is moreconcentrated at

  16. Trading on the Warsaw stock exchange—from reopening in 1991–2000

    Microsoft Academic Search

    Denise de la Rosa; Dean Crawford; Diana R. Franz

    2004-01-01

    The Polish political and economic systems have been through a period of extensive transformation. As a result of these changes, Polish firms that had previously been state-owned were privatized beginning in 1990 and shares in these firms began trading on the Warsaw Stock Exchange (WSE) in 1991. This paper describes the development of the WSE and Poland's accounting system. It

  17. Corporate Control: A Study of Firms on the Bucharest Stock Exchange

    Microsoft Academic Search

    2002-01-01

    This article analyzes the ownership structure of firms listed on the Bucharest Stock Exchange (BSE) over the period 1998-2000. The history of the BSE is briefly described, showing its similarity to other post-socialist countries in terms of small size and low liquidity of the market, and contrasting it with countries that have developed market economies. Measures of ownership concentration reveal

  18. DISCLOSURE OF FORWARD LOOKING INFORMATION: EVIDENCE FROM LISTED COMPANIES ON ISTANBUL STOCK EXCHANGE (ISE)

    Microsoft Academic Search

    Orhan Celik; Alaattin Ecer; Hakan Karabacak

    2006-01-01

    This study examines the disclosure of forward-looking information in annual reports of companies listed on Istanbul Stock Exchange (ISE). It aims to determine the factors influencing the decision of ISE listed companies to disclose forward-looking information. The factors pro- posed for the investigation consist of size, industry, institutional investors, internalization and in- tangibles. Since the annual reports represent the main

  19. Ownership structure, corporate governance and corporate liquidity policy : Evidence from the Ghana Stock Exchange

    Microsoft Academic Search

    Godfred A. Bokpin; Zangina Isshaq; Francis Aboagye-Otchere

    2011-01-01

    Purpose – The purpose of this paper is to examine the impact of ownership structure and corporate governance on corporate liquidity policy from a developing country perspective, Ghana Stock Exchange (GSE). Design\\/methodology\\/approach – The authors adopt multiple regression analysis in estimating the relationship between ownership structure, corporate governance and corporate liquidity policy as well as the impact of corporate governance

  20. THE RELATIONSHIP BETWEEN FINANCIAL REPORTING TIMELINESS AND ATTRIBUTES OF COMPANIES LISTED ON EGYPTIAN STOCK EXCHANGE \\

    Microsoft Academic Search

    Younes H. AKLE

    2011-01-01

    This study empirically investigates the relationship between industry type, company size, gearing, leverage, earnings quality, earnings management, electronic disclosure, and timeliness of corporate financial reporting of companies listed on Egyptian stock exchange during the period from 1998 to 2007. The results indicate that industry type influences on the timeliness of corporate financial reporting, also show that the larger firms tend

  1. Risk exposure and corporate financial policy on the Ghana Stock Exchange

    Microsoft Academic Search

    Godfred A. Bokpin; Anthony Q. Q. Aboagye; Kofi A. Osei

    2010-01-01

    Purpose – The purpose of this paper is to examine the extent to which corporate managers alter their capital structure in response to risk exposures on the Ghana Stock Exchange (GSE). Design\\/methodology\\/approach – A panel data covering the period from 2002 to 2007 was employed under the framework of the seemingly unrelated regression approach. Findings – The paper finds that

  2. The challenge for liquidity in small stock exchanges and trading portals : the case of the Belgian Stock Exchange

    E-print Network

    Goune, Steven E

    2005-01-01

    The world-wide consolidation in the electronic trading industry has provided evidence that small exchanges and trading portals need to deliver more than sophisticated technology, streaming quotes and market data. In order ...

  3. Do stock prices drive people crazy?

    PubMed

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

    2015-03-01

    This is the first research to examine a potential relation between stock market volatility and mental disorders. Using data on daily incidences of mental disorders in Taiwan over 4000 days from 1998 through 2009 to assess the time-series relation between stock price movements and mental disorders, we observe that stock price fluctuation clearly affects the hospitalization of mental disorders. We find that during a 12-year follow-up period, a low stock price index, a daily fall in the stock price index and consecutive daily falls in the stock price index are all associated with greater of mental disorders hospitalizations. A 1000-point fall in the TAIEX (Taiwan Stock Exchange Capitalization Weighted Stock Index) increases the number of daily mental disorders hospitalizations by 4.71%. A 1% fall in the TAIEX in one single day increases daily hospitalizations for mental disorders by 0.36%. When the stock price index falls one consecutive day, it causes a daily increase of approximately 0.32% hospitalizations due to mental disorders on that day. Stock price index is found to be significant for both gender and all age groups. In addition, daily change is significant for both gender and middle-age groups, whereas accumulated change is significant for males and people aged 45-64. Stockholdings can help people accumulate wealth, but they can also increase mental disorders hospitalizations. In other words, stock price fluctuations do drive people crazy. PMID:24526705

  4. The Relationship between Corporate Governance Indicators and Firm Value : A Case Study of Karachi Stock Exchange

    Microsoft Academic Search

    Attiya Y. Javed; Robina Iqbal

    2007-01-01

    We investigated whether differences in quality of firm-level corporate governance can explain the firm-level performance in a cross-section of companies listed at Karachi Stock Exchange. Therefore, we analysed the relationship between firm-level value as measured by Tobins Q and total Corporate Governance Index (CGI) and three sub-indices : Board, Shareholdings and Ownership, and Disclosures and Transparency for a sample of

  5. 78 FR 25327 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-30

    ...SR-NYSE-2013-29] Self-Regulatory Organizations; New York Stock Exchange...been prepared by the self-regulatory organization. The Commission is publishing...I. Self-Regulatory Organization's Statement of...

  6. 77 FR 56894 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-14

    ...Amending NYSE Rule 76 To Add Supplementary Material Relating to a Cross Function That Provides a Regulation NMS Rule 611--Compliant Tool for Floor Brokers September 10, 2012. I. Introduction On July 13, 2012, New York Stock Exchange LLC...

  7. arXiv:cond-mat/0207428v117Jul2002 Single Curve Collapse of the Price Impact Function for the New York Stock Exchange

    E-print Network

    the 1000 largest stocks of the New York Stock Exchange, from (1995-1998), and find that, by appropriate market capitalization traded in the New York Stock Exchange. The analysis is based on roughly 113 millionarXiv:cond-mat/0207428v117Jul2002 Single Curve Collapse of the Price Impact Function for the New

  8. Correlations and clustering in the trading of members of the London Stock Exchange

    E-print Network

    Zovko, Ilija I

    2007-01-01

    This paper analyzes correlations in patterns of trading of different members of the London Stock Exchange. The collection of strategies associated with a member institution is defined by the sequence of signs of net volume traded by that institution in hour intervals. Using several methods we show that there are significant and persistent correlations between institutions. In addition, the correlations are structured into correlated and anti-correlated groups. Clustering techniques using the correlations as a distance metric reveal a meaningful clustering structure with two groups of institutions trading in opposite directions.

  9. Emotions and Pair Trust in Asynchronous Hospitality Cultural Exchange for Students in Taiwan and Hong Kong

    ERIC Educational Resources Information Center

    Wang, Mei-jung; Chen, Hsueh Chu

    2012-01-01

    Social and emotional dynamics have an impact on students' learning processes in online-learning situations. This study explores university students' emotions and trust levels resulting from collaborative communication behaviors when they interacted as part of a Food and Tourism course in Taiwan and Hong Kong. More specifically, students' emotions…

  10. Comparisons of short and long hedge performance: the case of Taiwan

    Microsoft Academic Search

    Riza Demirer; Donald Lien; David R. Shaffer

    2005-01-01

    This study examines the performance of short and long hedgers using four stock index futures contracts traded at the Taiwan Futures Exchange. We compare the optimal hedge ratios and resulting hedge performances based on three risk measures: variance, extended Gini, and lower partial moment. We find that long hedgers achieve greater hedging performance than short hedgers for both the minimum-extended

  11. Ownership Concentration and Corporate Performance on the Budapest Stock Exchange: do too many cooks spoil the goulash?

    Microsoft Academic Search

    John S. Earle; Csaba Kucsera; Álmos Telegdy

    2005-01-01

    We examine the impact of ownership concentration on firm performance using panel data for firms listed on the Budapest Stock Exchange, where ownership tends to be highly concentrated and frequently involves multiple blocks. Fixed-effects estimates imply that the size of the largest block increases profitability and efficiency strongly and monotonically, but the effects of total blockholdings are much smaller and

  12. Incorporating Technical Analysis into Behavioral Finance: A Field Experiment in the Large Capitalization Firms of the Athens Stock Exchange

    Microsoft Academic Search

    Dimitrios Vasiliou; Nikolaos Eriotis; Spyros Papathanasiou

    2008-01-01

    In this paper we try to apply Technical Analysis methodology into the Behavior Theory for the large capitalization firms of the Athens Stock Exchange (ASE). In Behavioural and in Technical Theory we observe a combination between fundamental (rational) and psychological ? emotional (irrational) factors. We use standards tests in combination with bootstrap methodology under the AR(1) & GARCH(1,1) models. On

  13. Macroeconomic Impact on CEE Corporate Profitability: Analysis at the Level of Companies Listed on the Bucharest Stock Exchange

    Microsoft Academic Search

    Cristina Maria TRIANDAFIL; Petre BREZEANU; Leonardo BADEA

    2010-01-01

    This paper aims at identifying a potential impact of the macroeconomic environment on the profitability of the companies listed on the Bucharest Stock Exchange. This research derives from the most recent literature on the macroeconomic determination of the capital structure of companies located into emerging countries. Indeed, as for these corporations, there has been agreed on the risk transfer between

  14. Corporate Governance and Quality of Financial Information on the Prediction Power of Financial Distress of Listed Companies in Taiwan

    Microsoft Academic Search

    Yang-Cheng Lu

    This paper performs an empirical investigation on the relationship among the possibility of financial distress, firm performance, corporation governance, default tests, and macroeconomic environment using the companies listed on the Taiwan Stock Exchange (TSEC) and the financial distress events took place between 1997 and 2005. The sampling is formed according to the industry-matched and size-matched principle. The study built up

  15. 78 FR 8638 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-06

    ...Breakers Due to Extraordinary Market Volatility January 31, 2013. Pursuant to Section...all stocks due to extraordinary market volatility, from the date of February 4, 2013...all stocks due to extraordinary market volatility, to delay the operative date of...

  16. Evaluating Kuala Lumpur stock exchange oriented bank performance with stochastic frontiers

    NASA Astrophysics Data System (ADS)

    Baten, M. A.; Maznah, M. K.; Razamin, R.; Jastini, M. J.

    2014-12-01

    Banks play an essential role in the economic development and banks need to be efficient; otherwise, they may create blockage in the process of development in any country. The efficiency of banks in Malaysia is important and should receive greater attention. This study formulated an appropriate stochastic frontier model to investigate the efficiency of banks which are traded on Kuala Lumpur Stock Exchange (KLSE) market during the period 2005-2009. All data were analyzed to obtain the maximum likelihood method to estimate the parameters of stochastic production. Unlike the earlier studies which use balance sheet and income statements data, this study used market data as the input and output variables. It was observed that banks listed in KLSE exhibited a commendable overall efficiency level of 96.2% during 2005-2009 hence suggesting minimal input waste of 3.8%. Among the banks, the COMS (Cimb Group Holdings) bank is found to be highly efficient with a score of 0.9715 and BIMB (Bimb Holdings) bank is noted to have the lowest efficiency with a score of 0.9582. The results also show that Cobb-Douglas stochastic frontier model with truncated normal distributional assumption is preferable than Translog stochastic frontier model.

  17. Centralised order books versus hybrid order books: A paired comparison of trading costs on NSC (Euronext Paris) and SETS (London Stock Exchange)

    Microsoft Academic Search

    Jean-François Gajewski; Carole Gresse

    2007-01-01

    This article compares the cost of trading large capitalisation equities on the hybrid order-driven segment of the London Stock Exchange and the centralised electronic order book of Euronext. Using samples of stocks matched according to economic sector, free float capitalisation, and trading volume, our study shows that transaction costs are lower on the centralised order book than on the hybrid

  18. Dynamic C and N stocks - key factors controlling the C gas exchange of maize in a heterogenous peatland

    NASA Astrophysics Data System (ADS)

    Pohl, M.; Hoffmann, M.; Hagemann, U.; Giebels, M.; Albiac Borraz, E.; Sommer, M.; Augustin, J.

    2014-11-01

    Drainage and cultivation of fen peatlands creates complex small-scale mosaics of soils with extremely variable soil organic carbon (SOC) stocks and groundwater-level (GWL). To date, it remains unclear if such sites are sources or sinks for greenhouse gases like CO2 and CH4, especially if used for cropland. As individual control factors like GWL fail to account for this complexity, holistic approaches combining gas fluxes with the underlying processes are required to understand the carbon (C) gas exchange of drained fens. It can be assumed that the stocks of SOC and N located above the variable GWL - defined as dynamic C and N stocks - play a key role in the regulation of plant- and microbially mediated C gas fluxes of these soils. To test this assumption, the present study analysed the C gas exchange (gross primary production - GPP, ecosystem respiration - Reco, net ecosystem exchange - NEE, CH4) of maize using manual chambers for four years. The study sites were located near Paulinenaue, Germany. Here we selected three soils, which represent the full gradient in pedogenesis, GWL and SOC stocks (0-1 m) of the fen peatland: (a) Haplic Arenosol (AR; 8 kg C m-2); (b) Mollic Gleysol (GL; 38 kg C m-2); and (c) Hemic Histosol (HS; 87 kg C m-2). Daily GWL data was used to calculate dynamic SOC (SOCdyn) and N (Ndyn) stocks. Average annual NEE differed considerably among sites, ranging from 47 ± 30 g C m-2 a-1 at AR to -305 ± 123 g C m-2 a-1 at GL and -127 ± 212 g C m-2 a-1 at HS. While static SOC and N stocks showed no significant effect on C fluxes, SOCdyn and Ndyn and their interaction with GWL strongly influenced the C gas exchange, particularly NEE and the GPP:Reco ratio. Moreover, based on nonlinear regression analysis, 86% of NEE variability was explained by GWL and SOCdyn. The observed high relevance of dynamic SOC and N stocks in the aerobic zone for plant and soil gas exchange likely originates from the effects of GWL-dependent N availability on C formation and transformation processes in the plant-soil system, which promote CO2 input via GPP more than CO2 emission via Reco. The process-oriented approach of dynamic C and N stocks is a promising, potentially generalizable method for system-oriented investigations of the C gas exchange of groundwater-influenced soils and could be expanded to other nutrients and soil characteristics. However, in order to assess the climate impact of arable sites on drained peatlands, it is always necessary to consider the entire range of groundwater-influenced mineral and organic soils and their respective areal extent within the soil landscape.

  19. 78 FR 70085 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-22

    ...Proposed Rule Change To Correct Certain Rule Taxonomy Issues and Postpone Until December 2...Stock Leg Trades) to correct certain taxonomy issues and to adopt an operative date...Stock Leg Trades) to correct certain taxonomy issues and to adopt an operative...

  20. Estimation of a simple agent-based model of financial markets: An application to Australian stock and foreign exchange data

    NASA Astrophysics Data System (ADS)

    Alfarano, Simone; Lux, Thomas; Wagner, Friedrich

    2006-10-01

    Following Alfarano et al. [Estimation of agent-based models: the case of an asymmetric herding model, Comput. Econ. 26 (2005) 19-49; Excess volatility and herding in an artificial financial market: analytical approach and estimation, in: W. Franz, H. Ramser, M. Stadler (Eds.), Funktionsfähigkeit und Stabilität von Finanzmärkten, Mohr Siebeck, Tübingen, 2005, pp. 241-254], we consider a simple agent-based model of a highly stylized financial market. The model takes Kirman's ant process [A. Kirman, Epidemics of opinion and speculative bubbles in financial markets, in: M.P. Taylor (Ed.), Money and Financial Markets, Blackwell, Cambridge, 1991, pp. 354-368; A. Kirman, Ants, rationality, and recruitment, Q. J. Econ. 108 (1993) 137-156] of mimetic contagion as its starting point, but allows for asymmetry in the attractiveness of both groups. Embedding the contagion process into a standard asset-pricing framework, and identifying the abstract groups of the herding model as chartists and fundamentalist traders, a market with periodic bubbles and bursts is obtained. Taking stock of the availability of a closed-form solution for the stationary distribution of returns for this model, we can estimate its parameters via maximum likelihood. Expanding our earlier work, this paper presents pertinent estimates for the Australian dollar/US dollar exchange rate and the Australian stock market index. As it turns out, our model indicates dominance of fundamentalist behavior in both the stock and foreign exchange market.

  1. The differing privacy concerns regarding exchanging electronic medical records of internet users in Taiwan.

    PubMed

    Hwang, Hsin-Ginn; Han, Hwai-En; Kuo, Kuang-Ming; Liu, Chung-Feng

    2012-12-01

    This study explores whether Internet users have different privacy concerns regarding the information contained in electronic medical records (EMRs) according to gender, age, occupation, education, and EMR awareness. Based on the Concern for Information Privacy (CFIP) scale developed by Smith and colleagues in 1996, we conducted an online survey using 15 items in four dimensions, namely, collection, unauthorized access, secondary use, and errors, to investigate Internet users' concerns regarding the privacy of EMRs under health information exchanges (HIE). We retrieved 213 valid questionnaires. The results indicate that the respondents had substantial privacy concerns regarding EMRs and their educational level and EMR awareness significantly influenced their privacy concerns regarding unauthorized access and secondary use of EMRs. This study recommends that the Taiwanese government organizes a comprehensive EMR awareness campaign, emphasizing unauthorized access and secondary use of EMRs. Additionally, to cultivate the public's understanding of EMRs, the government should employ various media, especially Internet channels, to promote EMR awareness, thereby enabling the public to accept the concept and use of EMRs. People who are highly educated and have superior EMR awareness should be given a comprehensive explanation of how hospitals protect patients' EMRs from unauthorized access and secondary use to address their concerns. Thus, the public can comprehend, trust, and accept the use of EMRs, reducing their privacy concerns, which should facilitate the future implementation of HIE. PMID:22527781

  2. 78 FR 27461 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Order Granting Approval of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-10

    ...Exchange's trading system, NSX BLADE[supreg] (``Blade''), matches and executes like-priced...25\\ According to the Exchange, Blade would reject any Auto-Ex Only...quotation by submitting an intermarket sweep order or by submitting an...

  3. 76 FR 41853 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-15

    ...Alter Its Fee Schedule To Increase its SRO, DEA and Off-Exchange Trader Fees July 11...relating to its SRO, Off-Exchange trader and DEA fees. The text of this proposed rule change...existing SRO, Off-Exchange trader and DEA fees. These fee changes are being...

  4. 76 FR 57088 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Designation of a...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-15

    ...Rule Change Regarding the Submission by the Exchange of Clearing-Related Information for Trades Executed on the Exchange as Well as for Trades Executed Otherwise Than on the Exchange September 8, 2011. I. Introduction On July 7, 2011, the Chicago...

  5. The local Hurst exponent of the financial time series in the vicinity of crashes on the Polish stock exchange market

    NASA Astrophysics Data System (ADS)

    Grech, Dariusz; Pamu?a, Grzegorz

    2008-07-01

    We investigate the local fractal properties of the financial time series based on the whole history evolution (1991-2007) of the Warsaw Stock Exchange Index (WIG), connected with the largest developing financial market in Europe. Calculating the so-called local time-dependent Hurst exponent H for the WIG time series we find the dependence between the behavior of the local fractal properties of the WIG time series and the crashes’ appearance on the financial market. We formulate the necessary conditions based on the H behavior which have to be satisfied if the rupture or crash point is expected soon. As a result we show that the signal to sell or the signal to buy on the stock exchange market can be translated into H evolution pattern. We also find a relation between the rate of the H drop and the total correction the WIG index gains after the crash. The current situation on the market, particularly related to the recent Fed intervention in September ’07, is also discussed.

  6. Statistical analysis of 5 s index data of the Budapest Stock Exchange

    Microsoft Academic Search

    Imre M. Janosi; Balázs Janecskó; Imre Kondor

    1999-01-01

    A statistical analysis of the Budapest Stock Index (BUX) is presented. The high time resolution (5 s sampling) makes it possible to extract information on market functioning which does not emerge from daily data. The main results are as follows: from a statistical point of view the large drop in October 1997 was a “normal” event. Strong autocorrelation has been

  7. Calendar effects in the London Stock Exchange FT–SE indices

    Microsoft Academic Search

    Terence C. Mills; J. Andrew Coutts

    1995-01-01

    This paper investigates the presence of various anomalies, or ‘calendar effects’, in the FT-SE 100, Mid 250 and 350 indices, and the accompanying industry baskets, for the period January 1986 to October 1992. Our results broadly support similar evidence found for many countries concerning stock market anomalies, for the ‘January’, ‘weekend’, ‘half of the month’ and ‘holiday’ effects all appear

  8. 78 FR 60945 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-10-02

    ...Change To Extend a Pilot Program Related to Article 20, Rule 10 Concerning the Handling of...proposes to extend a pilot program related to Article 20, Rule 10, entitled ``Handling of...individual stock trading pauses contained in Article 20, Rule 10(c)(4). The...

  9. 77 FR 49848 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-17

    ...Effectiveness of Proposed Rule Change To Modify the Text of NSX Rule 11.15 To Clarify the Manner...Exchange'') is proposing to modify the text of NSX Rule 11.15 to clarify the manner...Exchange to other market centers. The text of the proposed rule change is...

  10. 78 FR 14867 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-07

    ...nsx.com, at the principal office of the Exchange, and at the...automatic execution mode (``Auto-Ex'') \\9\\ against undisplayed...is able to submit orders via Auto-Ex, including the proposed...and copying at the principal offices of the Exchange. All...

  11. 76 FR 44638 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-26

    ...Clearing-Related Information for Trades Executed on the Exchange as Well as for Trades Executed Otherwise Than on the Exchange July 20...and reported to a TRF by the third party broker- dealer, as well as purchases or sales of securities by the third party...

  12. How much equity capital did the Tokyo Stock Exchange really raise?

    Microsoft Academic Search

    Francesco Brioschi; Stefano Paleari

    1995-01-01

    Even though the channelling of equity capital from savers to listed firms is one of the primary functions of a stock market,\\u000a not much effort has been devoted to the problem of measuring the phenomenon. External equity financing, traditionally associated\\u000a with the issue of new shares, depends also on the sale of already issued shares. This additional form of collection

  13. HEDGING WITH STOCK INDEX FUTURES CONTRACTS IN THE ATHENS DERIVATIVES EXCHANGE

    Microsoft Academic Search

    MANOLIS G. KAVUSSANOS; ILIAS D. VISVIKIS

    This paper examines the hedging effectiveness of the FTSE\\/ATHEX-20 and FTSE\\/ATHEX Mid-40 stock index futures contracts in the relatively new and fairly unresearched futures market of Greece. Both in-sample and out-of-sample hedging performances using weekly and daily data are examined, considering both constant and time-varying hedge ratios. Results indicate that time-varying hedging strategies provide minimal incremental risk-reduction benefits in-sample, but

  14. 76 FR 39451 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-06

    ...Effectiveness of Proposed Rule Concerning the CHX Connect Service June 29, 2011. Pursuant to...proposes to add Article 4, Rule 2 (CHX Connect) to include an explicit description of the Exchange's CHX Connect order routing service. The text of...

  15. 77 FR 27505 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-05-10

    ...provides that, for orders other than sweep orders that are, consistent with...Exchange's trading system, NSX BLADE[supreg] (``Blade''), currently prices each such...the text of the rules to current Blade functionality....

  16. High-order fuzzy time-series based on multi-period adaptation model for forecasting stock markets

    NASA Astrophysics Data System (ADS)

    Chen, Tai-Liang; Cheng, Ching-Hsue; Teoh, Hia-Jong

    2008-02-01

    Stock investors usually make their short-term investment decisions according to recent stock information such as the late market news, technical analysis reports, and price fluctuations. To reflect these short-term factors which impact stock price, this paper proposes a comprehensive fuzzy time-series, which factors linear relationships between recent periods of stock prices and fuzzy logical relationships (nonlinear relationships) mined from time-series into forecasting processes. In empirical analysis, the TAIEX (Taiwan Stock Exchange Capitalization Weighted Stock Index) and HSI (Heng Seng Index) are employed as experimental datasets, and four recent fuzzy time-series models, Chen’s (1996), Yu’s (2005), Cheng’s (2006) and Chen’s (2007), are used as comparison models. Besides, to compare with conventional statistic method, the method of least squares is utilized to estimate the auto-regressive models of the testing periods within the databases. From analysis results, the performance comparisons indicate that the multi-period adaptation model, proposed in this paper, can effectively improve the forecasting performance of conventional fuzzy time-series models which only factor fuzzy logical relationships in forecasting processes. From the empirical study, the traditional statistic method and the proposed model both reveal that stock price patterns in the Taiwan stock and Hong Kong stock markets are short-term.

  17. 75 FR 52383 - Self-Regulatory Organizations; BATS Exchange, Inc.; NASDAQ OMX BX, Inc.; Chicago Board Options...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-08-25

    ...EDGX Exchange, Inc.; International Securities Exchange LLC; The NASDAQ Stock Market LLC; National Stock Exchange...Inc. (``EDGX''), International Securities Exchange LLC...The NASDAQ Stock Market LLC...

  18. 75 FR 54211 - Self-Regulatory Organizations; BATS Exchange, Inc.; NASDAQ OMX BX, Inc.; Chicago Board Options...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-03

    ...EDGX Exchange, Inc.; International Securities Exchange LLC; The NASDAQ Stock Market LLC; National Stock Exchange...Inc. (``EDGX''), International Securities Exchange LLC...The NASDAQ Stock Market LLC...

  19. Comparing Tehran STOCK Exchange as AN Emerging Market with a Mature Market by Random Matrix Approach

    NASA Astrophysics Data System (ADS)

    Namaki, A.; Raei, R.; Jafari, G. R.

    We analyze cross-correlation between return fluctuations of stocks of an emerging market by using random matrix theory (RMT). We test the statistics of eigenvalues of cross-correlation (C) between stocks of the Tehran Price Index (TEPIX) as an emerging market and compare these with a mature market (US market). According to the "null hypothesis," a random correlation matrix constructed from mutually uncorrelated time series, the deviation from the Gaussian orthogonal ensemble of RTM is a good criterion. We find that a majority of the eigenvalues of C fall within the bulk (RMT bounds between ?+ and ?-) for the eigenvalues of the random correlation matrices. Further, we find that the distribution of eigenvector components for the eigenvectors corresponding to the largest deviating eigenvalues, display systematic deviations from the RMT prediction. Analyzing the components of the deviating eigenvectors by Inverse Participation Ratio, leads us to know that the largest eigenvalue corresponds to an influence common to the whole market. Our analysis of the other deviating eigenvectors shows distinct industries, whose identities corresponds to the structure of the Iran business environment.

  20. 77 FR 51076 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-08-23

    ...Amend Its Rules To Add Rule 3.21 Regarding...is proposing to add Rule 3.21, Telephone...Exchange proposes to add Rule 3.21, Telephone...Holders to, among other things, maintain do-not-call...anything promoted in the same marketing...

  1. Clearly Irrational Financial Market Behavior: Evidence from the Early Exercise of Exchange Traded Stock Options

    Microsoft Academic Search

    Allen M; Vitaly Serbin

    2003-01-01

    This paper analyzes the early exercise of exchange-traded options by different classes of investors over the 1996 to 1999 period. A large number of exercises are identified as clearly irrational without invoking any model of market equilibrium. Customers of discount brokers and customers of full-service brokers both engage in a significant number of irrational exercises while traders at large investment

  2. 75 FR 6423 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-02-09

    ...3\\ The Exchange's two modes of order interaction are described in...Rule Change and Timing for Commission Action The proposed rule change has taken effect...it appears to the Commission that such action is necessary or appropriate in the...

  3. 76 FR 61460 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ...changes to the clearly erroneous execution...8a(2). \\6\\ See Securities Exchange...circuit breakers now in place. Specifically...SR-Phlx-98-15). \\11\\ See, e.g., NYSE...such as the E-Mini and SPY, will...trading halts will now be 15 minutes...14\\ See NYSE Rule...

  4. 78 FR 69900 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-21

    ...under both the Variable and Fixed Schedules. For ETP Holders with ADV within Tier 1 (up to...Exchange proposes to amend and redefine as ADV of greater than [sic...in the current Fixed and Variable Fee Schedules as ADV in excess of...

  5. 78 FR 19047 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-28

    ...Change To Provide the Ability To Prevent Zero Display Reserve Orders From Executing in...instruct the Exchange not to execute a Zero Display Reserve Order \\4\\ when the protected...locked market); (ii) clarify that a Zero Display Reserve Order will be...

  6. 77 FR 71022 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-28

    ...Change To Clarify the Operation of the Exchange's Depth-of-Book Feed November 21, 2012. Pursuant to Section 19(b)(1...clarify the manner in which it distributes the NSX depth-of-book feed (``DOB feed'') to authorized recipients. The...

  7. A Neural Network Approach to Predicting Stock Exchange Movements using External Factors

    Microsoft Academic Search

    Niall O’Connor; Michael G. Madden

    The aim of this study is to evaluate the effectiveness of using external indicators, such as commodity prices and currency\\u000a exchange rates, in predicting movements in the Dow Jones Industrial Average index. The performance of each technique is evaluated\\u000a using different domain specific metrics. A comprehensive evaluation procedure is described, involving the use of trading simulations\\u000a to assess the practical

  8. 78 FR 8662 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-06

    ...All Stocks Due to Extraordinary Market Volatility, From the Date of February 4, 2013...all stocks due to extraordinary market volatility, from the date of February 4, 2013...all stocks due to extraordinary market volatility, to delay the operative date of...

  9. Feeding and Stocking Up: Radio-Labelled Food Reveals Exchange Patterns in Ants

    PubMed Central

    Buffin, Aurélie; Denis, Damien; Van Simaeys, Gaetan; Goldman, Serge; Deneubourg, Jean-Louis

    2009-01-01

    Food sharing is vital for a large number of species, either solitary or social, and is of particular importance within highly integrated societies, such as in colonial organisms and in social insects. Nevertheless, the mechanisms that govern the distribution of food inside a complex organizational system remain unknown. Using scintigraphy, a method developed for medical imaging, we were able to describe the dynamics of food-flow inside an ant colony. We monitored the sharing process of a radio-labelled sucrose solution inside a nest of Formica fusca. Our results show that, from the very first load that enters the nest, food present within the colony acts as negative feedback to entering food. After one hour of the experiments, 70% of the final harvest has already entered the nest. The total foraged quantity is almost four times smaller than the expected storage capacity. A finer study of the spatial distribution of food shows that although all ants have been fed rapidly (within 30 minutes), a small area representing on average 8% of the radioactive surface holds more than 25% of the stored food. Even in rather homogeneous nests, we observed a strong concentration of food in few workers. Examining the position of these workers inside the nest, we found heavily loaded ants in the centre of the aggregate. The position of the centre of this high-intensity radioactive surface remained stable for the three consecutive hours of the experiments. We demonstrate that the colony simultaneously managed to rapidly feed all workers (200 ants fed within 30 minutes) and build up food stocks to prevent food shortage, something that occurs rather often in changing environments. Though we expected the colony to forage to its maximum capacity, the flow of food entering the colony is finely tuned to the colony's needs. Indeed the food-flow decreases proportionally to the food that has already been harvested, liberating the work-force for other tasks. PMID:19536275

  10. 76 FR 12161 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-04

    ...Change Amending Exchange Rule 1600 (New York Block Exchange \\SM\\) To Add Provisions on Short Sales in Order To Implement the...proposes to amend Exchange Rule 1600 (New York Block Exchange \\SM\\) (``NYBX'' or the ``Facility'') to add...

  11. A double-threshold GARCH model of stock market and currency shocks on stock returns

    Microsoft Academic Search

    Yung-lieh Yang; Chia-lin Chang

    2008-01-01

    International integration of financial markets provides a channel for currency movements to affect stock prices. This paper applies a four-regime double-threshold GARCH (DTGARCH) model of stock market returns to investigate empirically the effects of daily currency movements on five stock market returns, namely in Taiwan, Singapore, South Korea, Japan and the USA. The asymmetric reactions of the mean and volatility

  12. 75 FR 80088 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-12-21

    ...the Affiliation of BIDS With the New York Block Exchange LLC December 14, 2010. Pursuant...BIDS's affiliation with the New York Block Exchange LLC, an affiliate of the Exchange...the Exchange with respect to the New York Block Exchange (``NYBX''), a new...

  13. 75 FR 4600 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-28

    ...the Exchange hopes that the fee reduction would allow the Exchange to broaden the universe of vendors that would find the product appropriate for their business models. The Exchange believes that the proposed reduced fee would enable Internet...

  14. 77 FR 42788 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-20

    ...the Contra Party to Unresolved Account Balances in the Exchange's Online Comparison...the contra party to unresolved account balances in the Exchange's Online Comparison...party for any unresolved omnibus account balances in the Exchange's Online...

  15. Reproductive Contributions of Foreign Wives in Taiwan: Similarities and Differences among Major Source Countries

    Microsoft Academic Search

    Kao-Lee Liaw; Ji-Ping Lin; Chien-Chia Liu

    2009-01-01

    In light of the entrenchment of sub-replacement fertility and the sharp increase in the stock of foreign wives in Taiwan in recent years, this research studies the reproductive contributions of Taiwan’s foreign wives from the top five source countries (China, Vietnam, Indonesia, Thailand, and the Philippines), based mainly on an application of a multinomial logit model to the micro data

  16. 75 FR 58452 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-09-24

    ...Effectiveness of Proposed Rule Change To Add Certain Rules to the List of Exchange Rule...Exchange proposes to amend NYSE Rule 476A to add certain rules to its List of Exchange Rule...Exchange proposes to amend NYSE Rule 476A to add certain rules to its Minor Rule...

  17. 78 FR 75432 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-11

    ...Time for Purposes of Certain Transaction Pricing on the Exchange Through January 31, 2014...time for purposes of certain transaction pricing on the Exchange. The text of the proposed...time for purposes of certain transaction pricing on the Exchange. The Exchange...

  18. 75 FR 1438 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-01-11

    ...for accurate price discovery with...to maintain a fair and orderly market...transactions and fair competition among...current volume and value requirements...sizes and average stock prices. As a result...reductions in volatility,...

  19. Using Stock and Stock Options to Minimize Patent Royalty Payment Risks after Medimmune v. Genentech

    E-print Network

    O'Connor, Sean

    2007-01-01

    company, the value of its trading stock is simply the priceinto common stock and registered for trading in the publicStock Exchange. 256 These shares in nearly all cases were originally made available for public trading

  20. 78 FR 3064 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-15

    ...Participants in the Exchange's Medallion Signature Program From $1,000 per Year to...participants in the Exchange's medallion signature program from $1,000 per year to...paid by participants in the medallion signature program (``MSP'') maintained...

  1. 77 FR 67034 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-08

    ...Amend the Transaction Fees on the New York Block Exchange November 2, 2012. Pursuant to...Price List for its facility, the New York Block Exchange\\SM\\ (``NYBX''). The...own a 50% economic interest in New York Block Exchange LLC, the entity that owns...

  2. 75 FR 32831 - Self-Regulatory Organizations; The Chicago Stock Exchange, Inc.; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-09

    ...to Exchange Participants for SRO Fees and DEA Examinations June 3, 2010. Pursuant to...to Exchange Participants for SRO Fees and DEA Examinations. The text of this proposed...The Exchange also proposes to reduce the DEA Examinations Fee under Section J.4....

  3. 78 FR 29165 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-17

    ...That Will Be Posted on the Exchange's Web Site; and (ii) Adopt as New Rules Certain...that will be posted on the Exchange's Web site; and (ii) adopt as new rules certain...change is available on the Exchange's Web site at www.nyse.com, at the...

  4. 78 FR 51788 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of and Order Granting...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-21

    ...that will be Posted on the Exchange's Web site; and (ii) Adopt As New Rules Certain...that will be posted on the Exchange's Web site; and (ii) adopt as new rules certain...that will be posted on the Exchange's Web site; and (ii) adopt as new rules...

  5. 78 FR 38420 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-06-26

    ...increase this price level to $10...of an offer) price...quotations for a stock on a regular basis...which sets out value ranges used to...pre-determined price points that function to moderate volatility in a particular...transactions, fair competition...

  6. 78 FR 21481 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-10

    ...Five-Year Fee for the Development of an Enhanced Brokers Internet Platform April 3, 2013. On February 1, 2013, New York Stock...five- year fee for the development of an enhanced brokers internet platform. The proposed rule change was published for...

  7. Trading Network Predicts Stock Price

    NASA Astrophysics Data System (ADS)

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

    2014-01-01

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

  8. Trading network predicts stock price.

    PubMed

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

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices. PMID:24429767

  9. 77 FR 70195 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-23

    ...Proposed Rule Change Amending NYSE Rule 123C To Add New Supplementary Material .40 To Clarify...Exchange proposes to amend NYSE Rule 123C to add new Supplementary Material .40 to clarify...Exchange proposes to amend Rule 123C to add new Supplementary Material .40 to...

  10. 78 FR 41166 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-09

    ...Proposed Rule Change Amending Its Price List To Add Greater Specificity Related to the Applicable...Exchange proposes to amend its Price List to add greater specificity related to (i) the...Exchange proposes to amend its Price List to add greater specificity related to (i)...

  11. 75 FR 10855 - Self-Regulatory Organizations; New York Stock Exchange, LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-03-09

    ...Proposed Rule Change Amending NYSE Rule 476 To Add a Provision for Violations Relating to Failing...Exchange proposes to amend NYSE Rule 476 to add a provision for violations relating to failing...Exchange'') proposes to amend Rule 476 to add a provision for violations relating to...

  12. 77 FR 24239 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-23

    ...but not in the same securities in which...amend Rule 107B to add a category of SLPs...Exchange proposes to add a new class of...5\\ Among other things, a ``market...Exchange proposes to add SLMMs in order...subject to the same application...

  13. 76 FR 49513 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-10

    ...Applying To List After Consummation of a ``Reverse Merger'' With a Shell Company August...applying to list after consummation of a ``reverse merger'' with a shell company. The...Exchange Act reporting company, through a reverse merger, exchange offer or...

  14. 78 FR 15394 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-11

    ...consistent with FINRA's Sanction Guidelines. According to the Exchange...currently does not have Sanction Guidelines and does not propose to follow...Counsel, to determine certain procedural matters. In addition, the...Exchange does not have sanction guidelines, the Office of...

  15. 77 FR 71658 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-03

    ...of Proposed Rule Change Moving the Rule Text That Provides for Pegging on the Exchange...Rule 70 to NYSE Rule 13 and Amending Such Text to (i) Permit Designated Market Maker...The Exchange proposes to move the rule text that provides for pegging on the...

  16. 78 FR 51251 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-20

    ...a member organization executes an ADV of MOC and LOC activity on the Exchange in that...charged to both sides) for all MOC and LOC orders from any member organization executing an ADV of MOC and LOC activity on the Exchange in...

  17. 77 FR 67431 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-09

    ...average daily trading volume (``ADV'') of MOC and LOC activity on the Exchange...organizations that do not execute an ADV of MOC and LOC activity on the Exchange...00055 transaction fee for MOC and LOC orders from an ADV of at least 14 million...

  18. 78 FR 26818 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-08

    ...to the matching engine by off-Floor participants. Because of technology issues, the Exchange would continue to reject all GTC and MTS-IOC orders with an STP modifier. In addition, the Exchange proposes to make the STP modifier available for...

  19. Why effective spreads on NASDAQ were higher than on the New York stock exchange in the 1990s

    Microsoft Academic Search

    George J. Benston; Robert A. Wood

    2008-01-01

    Two hypotheses have been advanced to explain why spreads on NASDAQ were substantially higher than those on the NYSE in the 1990s: “collusion” and “preferencing and payment for order flow.” We present data on all actively traded stocks in these markets of relative effective spreads (RES), aggregated monthly over 1987–1999 and advance a third hypothesis: NASDAQ “SOES-day-trading.” We estimate NASDAQ

  20. 76 FR 39147 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-05

    ...Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot Until the Earlier of Securities...the Exchange's enhanced market model. Certain of the enhanced market model changes were implemented through a...

  1. 78 FR 1288 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-08

    ...Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot Until the Earlier of Securities...the Exchange's enhanced market model. Certain of the enhanced market model changes were implemented through a...

  2. 76 FR 617 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-01-05

    ...Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot Until the Earlier of Securities...the Exchange's enhanced market model. Certain of the enhanced market model changes were implemented through a...

  3. 76 FR 82340 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-30

    ...Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot, Until the Earlier of Securities...the Exchange's enhanced market model. Certain of the enhanced market model changes were implemented through a...

  4. 77 FR 45408 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-07-31

    ...Effectiveness of Proposed Rule Change Extending the Operation of Its New Market Model Pilot, Until the Earlier of Securities...the Exchange's enhanced market model. Certain of the enhanced market model changes were implemented through a...

  5. 78 FR 42573 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-16

    ...Professional Conduct 4.2 (``ABA Rule 4.2''). ABA Rule 4.2 provides: ``In representing...represented by counsel that are based on ABA Rule 4.2...records relating to an Exchange investigation of outside business...

  6. 78 FR 10226 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-13

    ...Exchange and Contemporaneously Delete the Text of Rule 1600, Which Governs NYBX Functionality...proposes to contemporaneously delete the text of Rule 1600, which governs NYBX functionality. The text of the proposed rule change is...

  7. 78 FR 75952 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Approval to Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-13

    ...to Proposed Rule Change to Amend the Quantitative Continued Listing Standards Applicable...a proposed rule change to amend the quantitative continued listing standards applicable...the Exchange must also meet certain quantitative financial continued listing...

  8. 78 FR 48522 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-08

    ...facilities and would not route any unexecuted orders to NYSE Arca; (B) would accept cancellations for Good `Til Cancelled (``GTC'') orders; and (C) would purge any unexecuted orders from the Exchange's own systems and facilities as soon as...

  9. 76 FR 47626 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-05

    ...appropriate balance between recouping certain costs associated with the FMCE Program from Floor members, without burdening a shrinking population with the full costs. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent...

  10. 76 FR 59476 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-09-26

    ...Exchange. Notwithstanding this redefinition of the status of Institutional...transactions based upon the state of the national market and...Article 9, Rule 24 which states ``No rule, stated policy...facilities. The proposed redefinition of the role of...

  11. 75 FR 31488 - Self-Regulatory Organizations; New York Stock Exchange, LLC; Order Approving Proposed Rule Change...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-06-03

    ...data revenue and thus not be competitive with other exchanges that have this ability. Table 1 below provides a useful recent snapshot of the state of competition in the U.S. equity markets in the month of September...

  12. Time-varying volatility in Malaysian stock exchange: An empirical study using multiple-volatility-shift fractionally integrated model

    NASA Astrophysics Data System (ADS)

    Cheong, Chin Wen

    2008-02-01

    This article investigated the influences of structural breaks on the fractionally integrated time-varying volatility model in the Malaysian stock markets which included the Kuala Lumpur composite index and four major sectoral indices. A fractionally integrated time-varying volatility model combined with sudden changes is developed to study the possibility of structural change in the empirical data sets. Our empirical results showed substantial reduction in fractional differencing parameters after the inclusion of structural change during the Asian financial and currency crises. Moreover, the fractionally integrated model with sudden change in volatility performed better in the estimation and specification evaluations.

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

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ...offering of a class of stock for trading on one or more qualified...Further, a class of stock shall not be treated as meeting the trading requirement of paragraph...effectively promote active trading of listed stocks. (2) Exchange...

  14. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ...offering of a class of stock for trading on one or more qualified...Further, a class of stock shall not be treated as meeting the trading requirement of paragraph...effectively promote active trading of listed stocks. (2) Exchange...

  15. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ...offering of a class of stock for trading on one or more qualified...Further, a class of stock shall not be treated as meeting the trading requirement of paragraph...effectively promote active trading of listed stocks. (2) Exchange...

  16. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ...offering of a class of stock for trading on one or more qualified...Further, a class of stock shall not be treated as meeting the trading requirement of paragraph...effectively promote active trading of listed stocks. (2) Exchange...

  17. 75 FR 15476 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-03-29

    ...Remove the Restrictions on the Execution of Block Cross Transactions Outside the Prevailing...Exchange proposes to amend NYSE Rule 127 (``Block Crosses Outside the Prevailing NYSE Quotation...remove the restrictions on the execution of block cross transactions outside the...

  18. 77 FR 35455 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Approval of Proposed...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-13

    ...amend NYSE Rule 107B to add a category of SLPs...would be subject to the same application and overall...Exchange proposes to add an additional ability...act as an SLMM in the same securities in which...requires, among other things, that the rules...

  19. 78 FR 70987 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-27

    ...PNU Fee is $360 per kW of power allocated to the PNU...Users pay a monthly per kW fee for cabinets in use...User's cabinets. The fee ranges from $1,200 per kW, for Users utilizing...allocated four kWs of power, the Exchange...

  20. 77 FR 69688 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-20

    ...to the Exchange's trading systems (i.e...connectivity to its trading systems and charges $300 per port pair per month for up to...charged $300 per pair per month for activity...accesses the equity trading systems that it...

  1. 76 FR 53513 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-26

    ...Affiliated Exchanges and To Clarify the Text of NYSE Rule 17(c)(2)(A)(ii...obligations and conditions) and to clarify the text of NYSE Rule 17(c)(2)(A)(ii...Regulatory Authority (``FINRA''). The text of the proposed rule change is...

  2. 76 FR 39951 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-07-07

    ...Effectiveness of Proposed Rule Change Deleting the Text of NYSE Rule 409(f) and Adopting the Text of FINRA Rule 2232 and Deleting the Rule Interpretations...Change The Exchange proposes (1) To delete the text of NYSE Rule 409(f) and adopt the text...

  3. 77 FR 56902 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-14

    ...Proposed Rule Change To Delete Non-Operable Text Within Its Price List Applicable to Supplemental...Exchange proposes to delete non-operable text within its Price List applicable to Supplemental...Liquidity Providers (``SLPs''). The text of the proposed rule change is...

  4. 76 FR 79260 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-12-21

    ...of a Proposed Rule Change Adopting the Text of Financial Industry Regulatory Authority...Change The Exchange proposes to adopt the text of Financial Industry Regulatory Authority...transactions, as NYSE Rule 5210. The text of the proposed rule change is...

  5. 76 FR 53015 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-24

    ...Effectiveness of Proposed Rule Change Deleting the Text of NYSE Rule 92 and Adopting a New NYSE...Change The Exchange proposes to delete the text of NYSE Rule 92, which limits trading...Authority (``FINRA'') Rule 5320. The text of the proposed rule change is...

  6. 76 FR 62122 - Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-06

    ...Affiliated Exchanges and To Clarify the Text of NYSE Rule 17(c)(2)(A)(ii...obligations and conditions), and to clarify the text of NYSE Rule 17(c)(2)(A)(ii...76 FR at 53513, n.5 and accompanying text. \\7\\ See...

  7. 76 FR 61450 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ...changes to the clearly erroneous execution...11.19. \\5\\ See Securities Exchange...circuit breakers now in place. Specifically...6\\ See Summary Report...7\\ See, e.g., NYSE...such as the E-Mini and SPY, will...trading halts will now be 15...

  8. 76 FR 61457 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-10-04

    ...changes to the clearly erroneous execution...B). \\7\\ See Securities Exchange...circuit breakers now in place. Specifically...SR-Phlx-98-15). \\12\\ See e.g., NYSE...such as the E-Mini and SPY, will...trading halts will now be 15 minutes...15\\ See NYSE Rule...

  9. 77 FR 54939 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-09-06

    ...percentage of consolidated ADV (``CADV'') in...NYSE CADV'') and (ii) amend the Exchange's...pursuant to Rule 107B and (ii) adds liquidity of an ADV of more than 0.22...the applicable month, and then the ADV figure should be...

  10. 77 FR 63406 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-10-16

    ...billing month that is at least a 0.18% increase over the SLP's September 2012 Adding ADV (``SLP Baseline ADV''), and (iv) has a minimum provide ADV for all assigned SLP securities of 12 million shares. Lastly, the Exchange proposes...

  11. 78 FR 9094 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-07

    ...available on the Exchange's Web site at http://www.nsx...Peg x 500 (Auto-Ex mode/Dark) 134.50 x 400 (Order Delivery...on the Commission's Internet Web site (http://www.sec...552, will be available for Web site viewing and printing...

  12. 78 FR 54704 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-09-05

    ...for a 40 Gb ``Bundle,'' SFTI and optic connections would be at 10 Gb and only...are not currently offered for SFTI and optic connections. The Exchange proposes to...500 connections, 2 SFTI Gb; SFTI and optic monthly charge. connections, and 2...

  13. 76 FR 12165 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-03-04

    ...the Short Sale Price Test for a covered security was triggered by a...that a Short Sale Price Test has been triggered for covered securities for which the Exchange...the Short Sale Price Test for a covered security was triggered...

  14. 78 FR 77186 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-12-20

    ...units shall have the ability to employ algorithms for quoting and trading consistent with...DMM units at the Exchange all use algorithms to engage in quoting and trading activity...technological change to enable DMM units to use algorithms to close a security as well,...

  15. 78 FR 51765 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-08-21

    ...40 Gigabit Liquidity Center Network Connection August 15, 2013...Gb'') Liquidity Center Network (``LCN'') connection...Connection The LCN is a local area network that is available in the data...The Exchange will include language in the Price List in the...

  16. 77 FR 71023 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-11-28

    ...such a bright-line cut-off time could harm investors and the public...to the 4:30 p.m. cut-off time, the Exchange would not have been...from the last sale, even if that means a delayed closing time, would benefit investors and...

  17. The limited role of small stock exchanges in economic development:A case study of Mozambique and Swaziland

    Microsoft Academic Search

    Bruce Hearn; Jenifer Piesse

    2010-01-01

    The establishment of a successful stock market in a developing economy\\u000d\\u000a\\u0009can provide a major source of development finance, both channelling\\u000d\\u000a\\u0009domestic savings and attracting foreign investment. But small markets\\u000d\\u000a\\u0009generally fail. Two micro-markets, Mozambique and Swaziland, provide\\u000d\\u000a\\u0009an interesting case study to examine the features of new markets\\u000d\\u000a\\u0009in sub-Saharan Africa that differ in a number of ways, including

  18. Experience and inspiration of the development and management of high-level talents in Taiwan province

    Microsoft Academic Search

    Yan Lei; Zhirong Yang

    2009-01-01

    Taiwan attaches great importance to the development and management of high-level talents. Through the active development of technical education, vocational training, the international exchange of personnel, the attraction of students abroad, the building of Science and Technology Zones, Taiwan greatly promotes its economic development. The experience of Taiwan may help us promote the development and management of high-level talents in

  19. The Final Utility of Speculation on the New York Stock Exchange and the Chicago Board of Trade

    E-print Network

    Lee, Thomas A.

    1912-02-01

    . the other ex- act.ly the same amount ef exa~tly the same thing. A. has made 1~ per bush-el. B has made 4, per bushel, less the cost of r carrying the wheat. This iSI!ico.mmonly chara.cterized as buying and selling Ilwlind fl wheat, and takes place e.... Its ob jects are as follows: 11 'J:o maintain a COmY:lerc ial "Exchange; to I promote uniformity in the customs and usages of merchants; to inculcate principles of justice and equity in trade; to facili ­ tate the sp, edy adjustment of business...

  20. The protective effect of taking care of grandchildren on elders’ mental health? Associations between changing patterns of intergenerational exchanges and the reduction of elders’ loneliness and depression between 1993 and 2007 in Taiwan

    PubMed Central

    2013-01-01

    Background The 20th century’s rapid industrialization and urbanization brought important social changes to Taiwan, including an increased number of elders living alone, which has increased risk of depression for the elderly. This study aimed to evaluate the changing pattern regarding the effect of intergenerational exchanges on elders’ depressive symptoms from 1993 to 2007. Methods Data from the second-, fourth- and sixth-wave surveys of the Study of Health and Living Status of the Middle-Aged and Elderly in Taiwan were analyzed. This study collected elders’ individual sociodemographic characteristics, their self-reported health status and their intergenerational exchanges, including living with partners or with their children and their provision of care for their grandchildren. Information about elders’ depression was evaluated using the 5-item Epidemiological Studies Depression Scale (CES-D). Changes in elders’ intergenerational exchanges and depressive symptoms were compared during these study periods (chi-square test). Then, logistic regression was performed to determine how significantly elders’ intergenerational exchanges were associated with their depressive symptoms across the three years 1993, 1999 and 2007. Results The prevalence of elders living with partners decreased from 1993 to 2007 by 19%, and that of living with their children decreased from 1993 to 2007 by 7%. Conversely, the percentage of elders providing care for grandchildren dramatically increased, from 9% in 1993 to 21% in 2007. Elderly people had significantly fewer depressive symptoms in 2007 than in 1993. After adjusting for confounders, those living without a partner, living without children or providing no grandchild care had a greater risk of feeling lonely and being depressed. However, during the period 1993 to 2007, the impact on elders’ depression and loneliness of co-residing with a partner or with children decreased at the same time that the impact of their provision of grandchild care increased. In 2007, elders who provided no grandchild care were significantly more likely to feel lonely and sad as well as to have high CES-D scores; these strong associations were not found in 1993 and 1999. Conclusions This study illustrates how taking care of grandchildren protects against depression and loneliness in elderly Taiwanese. We argue the need, in an aging society, for improving intergenerational interaction and recommend careful evaluation of the interaction between population policies and those of social welfare, such as child care. PMID:23758624

  1. Pricing call warrants with artificial neural networks: the case of the Taiwan derivative market

    Microsoft Academic Search

    Shu-Heng Chen; Wo-Chiang Lee

    1999-01-01

    In this paper, artificial neural nets are applied to pricing the call warrants in the Taiwan stock market. Warrants were initialized in Taiwan in 1997 and hence a still very new product. It, therefore, may provide us a chance to test whether artificial neural nets, as a data-driven tool, can be more effective than the model-driven tools in dealing with

  2. Evolution in intergenerational exchanges between elderly people and their grandchildren in Taiwan; data from a multiple round cross-sectional study from 1993 to 2007

    PubMed Central

    2011-01-01

    Background This study aimed to evaluate social evolution in Taiwan in recent decades using the changing pattern of care provided by grandparents for their grandchildren as an indicator. Methods Data from the second, fourth and sixth wave surveys of the Study of Health and Living Status of the Middle-Aged and Elderly in Taiwan were used for the analysis. This survey collected individual characteristics, including age, gender, education, ethnicity, dwelling place, living with partners, co-resident with children, employment status, self-reported health status and their provision of care for their grandchildren. Information about the attitudes toward National Health Insurance (NHI) was further collected in a questionnaire of 1999 following the implementation of NHI in 1995. By elders, we mean persons 60 or more years old. By grandchildren, we mean persons under 16 years of age. First, changes in individual characteristics were compared during these study periods (chi-square test). Then the logistic regression was performed to determine how significantly elders' grandchild-care behavior was associated with their individual characteristics. Results The percentage of elders providing grandchild care increased from 7.7% in 1993 to 13.6% in 1999, and then to 19.4% in 2007. By analysis, significant association was found between behavior in taking care of grandchildren and individuals of lower age, grandmothers, those living with partners or co-residing with children, those unemployed and those with better self-reported health status. And the effect of year was confirmed in the multivariable analysis. Conclusions This study pointed out the changing pattern of elders' behavior in taking care of their grandchildren as the main indicator and their related individual characteristics. We argue the need for improving social security policies in an ageing society. We suggest that the interaction between population policies and those of social welfare, including policies for health care and childcare, should be carefully evaluated. PMID:21835009

  3. Hedging effectiveness of stock index futures

    Microsoft Academic Search

    Jason Laws; John Thompson

    2005-01-01

    The paper is concerned with the efficiency of hedging stock portfolios using futures stock indices covering the period January 1995–December 2001. The hedged portfolios consisted of the assets of seventeen investment companies quoted on the London Stock Exchange and two portfolios, which were assumed to match exactly the corresponding cash index. Two futures indices were used to hedge the funds

  4. Demulsibility Properties of Hydrocracked Base Stock

    Microsoft Academic Search

    Lilianna Z. Pillon

    2003-01-01

    The lube oil base stocks were found to have different demulsibility properties. After passing the hydrocracked base stock through a strongly acidic ion-exchange resin, an increase in the oil\\/water interfacial tension was observed. A decrease in surface active content of the hydrocracked base stock was found to decrease the time required to separate the emulsion. With an increase in the

  5. Occupational safety and health aspects of corporate social responsibility (CSR) in Japanese companies listed on the Tokyo Stock Exchange (TSE) first section.

    PubMed

    Kawashita, Futoshi; Taniyama, Yukari; Hwi, Song You; Fujisaki, Takeshi; Kameda, Takashi; Mori, Koji

    2005-11-01

    Recently, corporate social responsibility (CSR) is becoming widely recognized as an issue for Japanese companies. Corporate responsibility for employees is considered important by various stakeholders, and occupational safety and health is regarded as one of these responsibilities. The present authors examined this issue from the viewpoint of corporate management by analysis of statements found in CSR-related reports. For companies listed on the First Section of the Tokyo Stock Exchange (TSE), we searched for CSR-related reports, and titles and contents, based on two established guidelines: the GRI Sustainability Reporting Guidelines 2002 as the international reference and the Environmental Reporting Guidelines of the Ministry of the Environment, Government of Japan, as the domestic reference. Corporations that published CSR reports were 26.3% (416/1,581) of the total, and large differences were recognized by type of industry. Comparing the numbers of pages for various contents, more concern was shown about the environment than about social activity, indicating the environment to be the main issue of CSR in Japan. In the items included in the guidelines, many matters about occupational accidents were mentioned, but it was found that statements regarding HIV/AIDS, which is not of such strong social concern in Japan, and statements regarding the costs of safety that are difficult to calculate were few. However, statements regarding mental health, which is of high interest socially, were many, even though this issue is not included in the two guidelines used. In revising the guidelines, these matters should be reviewed. In the future, continuance of analysis of CSR-related reports with regard to changes and comparisons with overseas reports will help improve occupational safety and health. PMID:16369117

  6. The index cohesive effect on stock market correlations

    Microsoft Academic Search

    Y. Shapira; D. Y. Kenett; E. Ben-Jacob

    2009-01-01

    We present empirical examination and reassessment of the functional role of the market Index, using datasets of stock returns for eight years, by analyzing and comparing the results for two very different markets: 1) the New York Stock Exchange (NYSE), representing a large, mature market, and 2) the Tel Aviv Stock Exchange (TASE), representing a small, young market. Our method

  7. Barnacle fouling impedes the gaseous exchange and food production of the mangroves Kandelia obovata , a dominant mangrove species in Hong Kong and Taiwan

    Microsoft Academic Search

    S. W. Li; Benny K. K. Chan; Nora F. Y. Tam

    2009-01-01

    Barnacle fouling has shown to impede gas exchange ability of mangroves. Fouled mangrove plants may therefore obtain less carbon\\u000a dioxide and water for photosynthesis, resulting in reduced food and chloroplasts production, but such hypothesis remains untested.\\u000a The objective of the present study compared the stomata density (essential for obtaining carbon dioxide and water molecules)\\u000a and leaf chlorophyll concentration (essential for

  8. A behavioral stock market model

    Microsoft Academic Search

    László Gerencsér; Zalán Mátyás

    2008-01-01

    Stock exchanges are modeled as nonlinear closed-loop systems where the plant dynamics is defined by known stock market regulations\\u000a and the actions of agents are based on their beliefs and behavior. The decision of the agents may contain a random element,\\u000a thus we get a nonlinear stochastic feedback system. The market is in equilibrium when the actions of the agents

  9. Demutualization and Public Offerings of Financial Exchanges

    Microsoft Academic Search

    Reena Aggarwal; Sandeep Dahiya

    2006-01-01

    The recent merger of the New York Stock Exchange with Archipelago, a publicly listed electronic exchange, can be viewed as the final phase of a wave of organizational transformation that has swept across most of the world's major financial exchanges in the last ten years. Until the early 1990s, almost all stock and derivatives exchanges were organized as non-profit, mutual

  10. An Agent Task Force for Stock Trading

    Microsoft Academic Search

    Rui Pedro Barbosa; Orlando Belo

    2011-01-01

    \\u000a In this article the authors present the simulated trading results of a system consisting of 60 intelligent agents, each being\\u000a responsible for day trading a stock listed on the NYSE or the NASDAQ stock exchange. These agents were implemented according\\u000a to an architecture that was previously applied to currency trading with interesting results. The performance of the stock\\u000a trading agents,

  11. Return transmission among stock markets of Greater China

    Microsoft Academic Search

    W. S. Chan; Harry W. C. Lo; S. H. Cheung

    1999-01-01

    In this article we study the return transmission among stock markets in Greater China – Mainland China (Shanghai, Shenzhen), Hong Kong and Taiwan – a region which has been enjoying tremendous growth and expansion in the economies and capital markets in the last decade. Using a multiple time series approach we identify explicitly the lead–lag interaction among these markets. The

  12. Electronic Trading in Stock Markets

    Microsoft Academic Search

    Hans R. Stoll

    2006-01-01

    Modern trading technology clashes with the traditional organization of a stock exchange, where transactions were consummated via face-to-face negotiation. The modern trading facility is no longer a place. Rather, it is a computer system over which transactions are entered, routed, executed and cleared electronically with little or no human intervention. In this article, I examine how electronic trading has altered

  13. A neural network with a case based dynamic window for stock trading prediction Pei-Chann Chang a,*, Chen-Hao Liu b

    E-print Network

    Langseth, Helge

    A neural network with a case based dynamic window for stock trading prediction Pei-Chann Chang a-Li, Taoyuan, 32026 Taiwan, ROC a r t i c l e i n f o Keywords: Stock forecasting Trading points prediction), and neural network for stock trading prediction is developed and it includes three different stages: (1

  14. Using the Stock Market Game to Teach Economics.

    ERIC Educational Resources Information Center

    Lopus, Jane Schaerges

    1985-01-01

    The Stock Market Game is a computerized simulation that involves high school students in trading eligible New York Stock Exchange stocks in an effort to make capital gains. Time required is ten weeks. The game is described; economic concepts that can be taught using the game are listed. (RM)

  15. Quantifying Wikipedia Usage Patterns Before Stock Market Moves

    E-print Network

    Stanley, H. Eugene

    of the final execution of a chosen action, such as a trade recorded at a stock exchange. Instead, within , unemployment rates24,25 , tourist numbers25 , and trading volumes in the US stock markets26,27 . A recent studyQuantifying Wikipedia Usage Patterns Before Stock Market Moves Helen Susannah Moat1,2,3 , Chester

  16. A Multiresolution Wavelet Based Analysis of the Chinese Stock Market

    Microsoft Academic Search

    Ling Huang; Changdong Wang; Song Qin

    2010-01-01

    This paper investigates the domestic impacts on the Chinese stock market using multiresolution wavelet. Three domestic impact factors are considered, which are inflation rate, M2 and lending rate, while Shanghai stock exchange composite index (SSECI) is selected to be representative of the Chinese stock market due to its significance. By decomposing the time series into four level cycles with different

  17. The Integration of Commercial Real Estate Markets and Stock Markets

    Microsoft Academic Search

    David C. Ling; Andy Naranjo

    1999-01-01

    This paper tests whether commercial real estate markets (both exchange-traded and non-exchange-traded) are integrated with stock markets using multifactor asset pricing models. The results support the hypothesis that the market for exchange-traded real estate companies, including REITs, is integrated with the market for exchange-traded (non-real-estate) stocks. Moreover, the degree of integration has significantly increased during the 1990s. However, when appraisal-based

  18. Urban waste recycling in Taiwan

    Microsoft Academic Search

    Gordon C. C. Yang

    1995-01-01

    The urban waste recycling program in Taiwan is discussed. During the past few years, the quantity of urban waste generated in Taiwan has greatly increased, about 8–10% per year. Approx., 50 wt.% or more of the waste items in urban waste are found to be valuable and worth recycling. Recycling is of much significance to Taiwan because of a lack

  19. Sea Level Variation around Taiwan

    Microsoft Academic Search

    W. J. Chen; C. T. Kuo

    If sea level is rising around Taiwan coast, it will cause many extremely disasters in nearshore area such as flooding, wave overtopping, beach erosion etc. The purpose of this paper is to discussing the sea water level fluctuation in Taiwan; the results were analyzed from the tidal data those survey from all the tidal sites around Taiwan coast. There show

  20. Comparison of the Stock Price Clustering of stocks which are traded in the US and Germany—Is XETRA more efficient than the NYSE?

    Microsoft Academic Search

    Kirsten Rüchardt; Bodo Vogt

    2009-01-01

    We analyze intraday trades of German stocks (Daimler Chrysler and SAP) that are traded simultaneously at the German stock market XETRA and the New York Stock Exchange (NYSE). At first glance, the stock price clustering seems to be less pronounced at the NYSE. But after converting Euro-prices into Dollar-prices, we obtain the result that the clustering is stronger at the

  1. Private Information, Trading Volume, and Stock Return Variances

    Microsoft Academic Search

    Michael J. Barclay; Robert H. Litzenberger; Jerold B. Warner

    1990-01-01

    The institutional features of the Tokyo Stock Exchange allow tests that provide new insights into the determinants of stock return variances. When the exchange is open on Saturday, the weekend variance is roughly 60% higher than when it is closed. However, weekly variances are not increased by Saturday trading. The increase in weekend volume and variance caused by Saturday trading

  2. Visualization of a stock market correlation matrix

    NASA Astrophysics Data System (ADS)

    Rea, Alethea; Rea, William

    2014-04-01

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

  3. New Taiwan macrolichens

    Microsoft Academic Search

    A Aptroot; L B Sparrius; M-J Lai

    2002-01-01

    [New to Taiwan: Baeomyces rufus, Candelaria concolor, Cladonia glauca, C. incrassata, C. phyllopoda, C. strepsilis, C. subsquamosa, C. umbricola, Dibaeis baeomyces, D. pulogensis, D. sorediata, Dirinaria aegialita, D. confluens, Ephebe lanata, Heterodermia microphylla, H. verrucifera, Hyperphyscia adglutinata, H. cochlearis, H. granulata, Hypotrachyna rockii, Leioderma sorediatum, Leptogium austroamericanum, L. burnetiae, L. corticola, L. denticulatum, L. laceroides, L. marginellum, L. phyllocarpum, L.

  4. Technology Education in Taiwan.

    ERIC Educational Resources Information Center

    Lee, Lung-Sheng Steven

    Technology education focusing on technological literacy is provided to Taiwanese students in grades 1-11, primarily through the secondary school subject Living Technology (LT). Taiwan's newly promulgated national curriculum for grades 1-9 has integrated LT with natural science for the key learning area (KLA) Natural Science and Living Technology.…

  5. Trading Puts and CDS on Stocks with Short Sale Ban Sophie Xiaoyan Ni and Jun Pan

    E-print Network

    Gabrieli, John

    Trading Puts and CDS on Stocks with Short Sale Ban Sophie Xiaoyan Ni and Jun Pan July 22, 2011 in banned stocks and the trading of options and CDS. Within the sample of banned stocks with exchange traded not perform differently from the middle group. Within the sample of banned stocks with CDS traded and using

  6. 75 FR 69484 - Self-Regulatory Organizations; BATS Exchange, Inc.; NASDAQ OMX BX, Inc.; Chicago Board Options...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-11-12

    ...Inc.; Chicago Board Options Exchange, Incorporated...Stock Exchange, Inc.; Financial Industry Regulatory Authority...Chicago Board Options Exchange, Incorporated...Arca''), and the Financial Industry Regulatory...

  7. 17 CFR 240.19c-5 - Governing the multiple listing of options on national securities exchanges.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ...exchange to list up to ten classes of standardized stock options overlying exchange-listed stocks that were listed on another options exchange...addition to any option on an exchange-listed stock trading on this exchange that was traded on more...

  8. 17 CFR 240.19c-5 - Governing the multiple listing of options on national securities exchanges.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ...exchange to list up to ten classes of standardized stock options overlying exchange-listed stocks that were listed on another options exchange...addition to any option on an exchange-listed stock trading on this exchange that was traded on more...

  9. 17 CFR 240.19c-5 - Governing the multiple listing of options on national securities exchanges.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ...exchange to list up to ten classes of standardized stock options overlying exchange-listed stocks that were listed on another options exchange...addition to any option on an exchange-listed stock trading on this exchange that was traded on more...

  10. 78 FR 23487 - Certain Outbound Property Transfers by Domestic Corporations; Certain Stock Distributions by...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-19

    ...TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9614...Corporations; Certain Stock Distributions by Domestic Corporations...AGENCY: Internal Revenue Service (IRS), Treasury. ACTION...nonrecognition exchanges, or to distributions of stock of certain...

  11. Taiwan Nantou County earthquake 0327 Taiwan Nantou County earthquake

    E-print Network

    Taiwan Nantou County earthquake 20130327 1 #12;0327 Taiwan Nantou County earthquake Source, Intensity 5 #12;I II III IV V VI VII Intensity Shake map of the March 27 Earthquake The peak ground and Technology Center for Disaster Reduction (NCDR) #12;Earthquake Response and Evacuation are a Part of Students

  12. Stock structure of sea otters (Enhydra Lutris Kenyoni) in Alaska

    USGS Publications Warehouse

    Gorbics, C.S.; Bodkin, J.L.

    2001-01-01

    Sea otters in Alaska are recognized as a single subspecies (Enhydra lutris kenyoni) and currently managed as a single, interbreeding population. However, geographic and behavioral mechanisms undoubtably constrain sea otter movements on much smaller scales. This paper applies the phylogeographic method (Dizon et al. 1992) and considers distribution, population response, phenotype and genotype data to identify stocks of sea otters within Alaska. The evidence for separate stock identity is genotypic (all stocks), phenotypic (Southcentral and Southwest stocks), and geographic distribution (Southeast stock), whereas population response data are equivocal (all stocks). Differences in genotype frequencies and the presence of unique genotypes among areas indicate restricted gene flow. Genetic exchange may be limited by little or no movement across proposed stock boundaries and discontinuities in distribution at proposed stock boundaries. Skull size differences (phenotypic) between Southwest and Southcentral Alaska populations further support stock separation. Population response information was equivocal in either supporting or refuting stock identity. On the basis of this review, we suggest the following: (1) a Southeast stock extending from Dixon Entrance to Cape Yakataga; (2) a Southcentral stock extending from Cape Yakataga to Cape Douglas including Prince William Sound and Kenai peninsula coast; and (3) a Southwest stock including Alaska Peninsula coast, the Aleutians to Attu Island, Barren, Kodiak, Pribilof Islands, and Bristol Bay.

  13. Intraday and interday volatility in the Japanese stock market

    Microsoft Academic Search

    Torben G. Andersen; Tim Bollerslev; Jun Cai

    2000-01-01

    This paper characterizes the volatility in the Japanese stock market based on a 4-year sample of 5-min Nikkei 225 returns from 1994 through 1997. The intradaily volatility exhibits a doubly U-shaped pattern associated with the opening and closing of the separate morning and afternoon trading sessions on the Tokyo Stock Exchange. This feature is consistent with market microstructure theories that

  14. STOCK MARKET INTEGRATION IN ASEAN AFTER THE ASIAN FINANCIAL CRISIS

    Microsoft Academic Search

    Reid W. Click; Michael G. Plummer

    2003-01-01

    Members of the Association of Southeast Asian Nations (ASEAN) have recently made progress in forming a free trade area and investment zone, and are now examining the possibility of stock market integration. Regional integration may be fostered by simply coordinating existing national stock markets or, at an extreme, by creating a supranational exchange. Financial theory suggests that an integrated regional

  15. Designing safe, profitable automated stock trading agents using evolutionary algorithms

    E-print Network

    Stone, Peter

    Designing safe, profitable automated stock trading agents using evolutionary algorithms Harish of exchanges and stock trading mechanisms have generated substantial interest and activ- ity within the machine.subramanian@alumni.utexas.net, s.ramamoorthy@mail.utexas.edu, (pstone,kuipers)@cs.utexas.edu ABSTRACT Trading rules are widely used

  16. Empirical regularities of order placement in the Chinese stock market

    Microsoft Academic Search

    Gao-Feng Gu; Wei Chen; Wei-Xing Zhou

    2008-01-01

    Using ultra-high-frequency data extracted from the order flows of 23 stocks traded on the Shenzhen Stock Exchange, we study the empirical regularities of order placement in the opening call auction, cool period and continuous auction. The distributions of relative logarithmic prices against reference prices in the three time periods are qualitatively the same with quantitative discrepancies. The order placement behavior

  17. Ultimate ownership structure and stock liquidity: empirical evidence from Tunisia

    Microsoft Academic Search

    Ghabri Yosra; Olfa Ben Ouda Sioud

    2011-01-01

    Purpose – The purpose of this paper is to study the ownership-liquidity relation in the context of the Tunisian Stock Exchange. Design\\/methodology\\/approach – In particular, the paper examines two empirical relationships: the relationship between ownership concentration and stock liquidity and the relationship between the separation of ownership from control and market liquidity. Findings – The empirical findings verify that the

  18. The effect of the currency movements on stock markets 

    E-print Network

    Zohrabyan, Tatevik

    2006-04-12

    This paper uncovers the relationship between stock markets and exchange rates in seven countries by employing stable aggregate currency (SAC) for the period of 1973- 2004. Ordinary Least Squares (OLS) regression, time series methods, and directed...

  19. The effect of the currency movements on stock markets

    E-print Network

    Zohrabyan, Tatevik

    2006-04-12

    This paper uncovers the relationship between stock markets and exchange rates in seven countries by employing stable aggregate currency (SAC) for the period of 1973- 2004. Ordinary Least Squares (OLS) regression, time series methods, and directed...

  20. A probabilistic seismic risk analysis of building losses in Taipei: An application of Haz?Taiwan with its pre?processor and post?processor

    Microsoft Academic Search

    Daigee Shaw

    2007-01-01

    We employ a probabilistic seismic risk analysis to estimate exceedance probability curves, average annual loss (AAL) and probable maximum loss (PML) of building stocks in Taipei. It utilizes an event?driven loss estimation model, HAZ?Taiwan, and develops its pre?processing and post?processing software modules. The pre?processing module establishes a set of hazard?consistent scenario earthquakes. The HAZ?Taiwan model estimates hazards, vulnerabilities and economic

  1. Scrap car recycling in Taiwan

    SciTech Connect

    Lee, C.H.; Tai, H.S.; Fan, R.K.S.

    1997-12-31

    The official figure of registered automobiles released by the Ministry of Transportation of Taiwan, R.O.C. as of the end of April 1996, is approximately 4.8 millions. Among them, 18% of the cars are between seven and ten years old and 15% of the cars are old than ten years. The result of this large number of old cars is the problem of abandoned cars on the street of Taiwan. This phenomena not only hinders traffic flow but also undermines the living quality in the cities. To minimize these negative effects, EPA has promulgated a Scrap Motor Vehicles Management Regulation to enforce the scrap car recycling in Taiwan. Under this regulation, a buyer of a new vehicle has to pay the Scrap Motor Vehicle Disposal fee (NT$ 3000, or US$ 110 for a car; and NT$ 700, or US$ 25 for a motorcycle). This paper presents the current status of scrap car recycling in Taiwan.

  2. Dynamic Effects of Currency Depreciation on Stock Market Returns during the Asian Financial Crisis

    E-print Network

    Ahmad, Sajjad

    economies, including the four Asian Tigers of Hong Kong, Singapore, South Korea, and Taiwan, suffered on stock market returns for Thailand and the four Asian Tigers over the Asian financial crisis from 1997 to a recent study (The World Bank, 1993), the four Asian Tigers were a key part of the East Asian Miracle. 2

  3. Progress and Prospect of Physics Research and Education in Taiwan

    NASA Astrophysics Data System (ADS)

    Raynien Kwo, J.

    2010-03-01

    Started about two decades ago, the global trend of shifting industrial manufacture power from western developed countries toward developing countries in Asia has in turn become the impetus in building up physical science and research in these areas. A very good example is the remarkable progress of physical research and education in Taiwan, in terms of quantity and quality. The continuous elevation of Taiwan's high education into graduate level plus the government's strong commitment to research and development on a level of 2.62 % GDP have led to an impressive physics program with an annual budget ˜32 million USD from National Science Council in supporting 568 PIs. The investigation scope encompasses high energy and astrophysics, nano and condensed matter, and semiconductor, optoelectronic physics, etc. The former is vigorously conducted via international collaborative efforts of LHC, KEK, ALMA, Pan-STARRS, etc. The latter is driven by vital Taiwan high tech industry mostly semiconductor IC and optoelectronics flourished during this period. The early trend of outflows of BS physics majors to western world for advanced studies has reversed dramatically. Nearly 80% of the BS students continue their MS and PhD degrees in Taiwan, attracted by lucrative job markets of high tech industry. In addition, healthy inflow of high-quality science manpower of well trained PhDs and senior scholars returning to homeland has strengthened the competitiveness. Overall, the physics community in Taiwan is thriving. The annual Physical Society meeting is expanding at a rate of 6%, reaching ˜1800 attendants and 1200 papers, and dedicated to promotions of female physicists and students. The publication quantity of Taiwan in top journals of PRs and PRL is ranked among top 20^th for all fields of physics, and ranked the 6^th in APL. Clearly Taiwan has now emerged as a strong power in applied science, not limited by its population size. Concerted efforts on scientific exchanges are being taken to connect to international societies. The bright outlook of physical science and its vital power in Taiwan is anticipated to provide a stimulus to benefit South East Asia, and have far-reaching impacts on China and worldwide.

  4. Comparisons between extension systems in Taiwan and USA ; and an aquaculture development plan for Taiwan 

    E-print Network

    Chu, Tah-Wei

    1986-01-01

    salinity and environmental characteristics of ponds. They are freshwater pond, salt-water pond, shallow-sea culture and reservoir culture (Fig. 1). Viewing the limitations imposed by natural conditions, a large scale expansion of the aquaculture area... be constructed. 27 2. Water Aspects Freshwater: Pish ponds require exchanging of water frequently to improve the water quality and to allow higher stocking densities. Also, salt-water ponds sometimes need freshwater to adjust salinity. Unfortunately...

  5. An operatorial approach to stock markets

    Microsoft Academic Search

    F. Bagarello

    2006-01-01

    We propose and discuss some toy models of stock markets using the same operatorial approach adopted in quantum mechanics. Our models are suggested by the discrete nature of the number of shares and of the cash which are exchanged in a real market, and by the existence of conserved quantities, like the total number of shares or some linear combination

  6. Currency Depreciation and Korean Stock Market Performance during the Asian Financial Crisis

    E-print Network

    Ahmad, Sajjad

    Currency Depreciation and Korean Stock Market Performance during the Asian Financial Crisis Wen the volatility of the Korean stock and foreign exchange markets during the 1997 Asian financial crisis and Korean Stock Market Performance during the Asian Financial Crisis Abstract Structural shifts characterize

  7. Margin requirements, positive feedback trading, and stock return autocorrelations: the case of Japan

    Microsoft Academic Search

    Toshiaki Watanabe

    2002-01-01

    This article examines the pattern of autocorrelation of daily stock index returns in the Tokyo Stock Exchange (TSE) by estimating the two variants of the EGARCH model by Nelson (1991). We confirm the findings by Sentana and Wadhwani (1992) and Koutmos (1997) that stock returns exhibit positive autocorrelation when volatility is low but they exhibit negative autocorrelation when volatility is

  8. Liquidity and the multiscaling properties of the volume traded on the stock market

    Microsoft Academic Search

    Zoltan Eisler; J. Kertész

    2007-01-01

    We investigate the correlation properties of transaction data from the New York Stock Exchange. The trading activity fi(t) of each stock i displays a crossover from weaker to stronger correlations at time scales 60-390 minutes. In both regimes, the Hurst exponent H depends logarithmically on the liquidity of the stock, measured by the mean traded value per minute. All multiscaling

  9. Trading a NYSE-stock with a simple artificial neural network-based financial trading system

    Microsoft Academic Search

    C. N. W. Tan

    1993-01-01

    Reports hypothetical trading results of a New York Stock Exchange (NYSE) listed stock over a period of two years using an artificial neural network (ANN) based financial trading system. The system was designed, constructed and tested for its ability to predict stock prices and more importantly increase trading profit. This system is still at a preliminary stage and many of

  10. Information-based multi-assets artiflcial stock market with heterogeneous agents

    Microsoft Academic Search

    Silvano Cincotti; Linda Ponta; Stefano Pastore

    2006-01-01

    In this paper, an information-based multi-assets artiflcial stock market is presented. The market is populated by heterogeneous agents that are seen as nodes of sparsely connected graphs. The market is characterized by difierent types of stocks and agents trade risky assets in exchange for cash. Beside the amount of cash and of stocks owned, each agent is characterized by sentiments.

  11. Has political instability contributed to price clustering on Fiji's stock market?

    Microsoft Academic Search

    Paresh Kumar Narayan; Russell Smyth

    2011-01-01

    The goal of this paper is to examine evidence of stock price clustering on the South Pacific Stock Exchange, located in Fiji, and explore its determinants. We find that stock prices cluster at the decimal of 0 and 5, with almost half of prices settling on these two decimals. Upon investigating the determinants of price clustering on the South Pacific

  12. Impact of ETF inception on the valuation and trading of component stocks

    Microsoft Academic Search

    Jeff Madura; Thanh Ngo

    2008-01-01

    While exchange-traded funds (ETFs) are being created at a rapid rate, there is very limited research on how they affect the component stocks that they contain. We find that in response to the inception of ETFs, there are positive and significant valuation effects on the dominant component stocks (defined as the 10 largest stocks in each ETF). The variation in

  13. Information Salience, Investor Sentiment, and Stock Returns: The Case of British Soccer Betting

    Microsoft Academic Search

    F. A. Palomino; L. D. R. Renneboog; C. Zhang

    2008-01-01

    Soccer clubs listed on the London Stock Exchange provide a unique way of testing stock price reactions to different types of news. For each firm, two pieces of information are released on a weekly basis: experts' expectations about game outcomes through the betting odds, and the game outcomes themselves. The stock market reacts strongly to news about game results, generating

  14. Information salience, investor sentiment, and stock returns: The case of British soccer betting

    Microsoft Academic Search

    Frederic Palomino; L. D. R. Renneboog; Chendi Zhang

    2009-01-01

    Soccer clubs listed on the London Stock Exchange provide a unique way of testing stock price reactions to different types of news. For each firm, two pieces of information are released on a weekly basis: experts' expectations about game outcomes through the betting odds, and the game outcomes themselves. The stock market reacts strongly to news about game results, generating

  15. Information Salience, Investor Sentiment, and Stock Returns: The Case of British Soccer Betting

    Microsoft Academic Search

    F. A. Palomino; L. D. R. Renneboog; C. Zhang

    2008-01-01

    Soccer clubs listed on the London Stock Exchange provide a unique way of testing stock price reactions to different types of news. For each firm, two pieces of information are released on a weekly basis: experts’ expectations about game outcomes through the betting odds, and the game outcomes themselves. The stock market reacts strongly to news about game results, generating

  16. Liquidity, stock returns and ownership structure: an empirical study of the BSE

    Microsoft Academic Search

    Venkat Eleswarapu; Chandrasekar Krishnamurti

    1995-01-01

    We study the problem of illiquidity that afflicts the stocks listed on the Bombay Stock Exchange (B.S.E.). Trading on a regular basis is concentrated in only a few of the listed stocks. We examine this issue by empirically looking at the characteristics of firms leading to differential levels of trading frequency and also, the resultant effect on average returns. Based

  17. Dollar and the stock market: An approach using Haar wavelet

    NASA Astrophysics Data System (ADS)

    Belardi, Aldo Artur; Aguiar, Renato A.

    2012-08-01

    This paper presents a methodology to detect significant changes in the price of U.S. dollar in regarding to the stock exchange using the Haar wavelet as well as statistical analyzes of several parameters. The data used arise of information provided by the stock market, both for the U.S. dollar and for the stock market. The results show that the applied methodology through Haar wavelet, are able to inform in advance the trend of the stock market through a single variable, the U.S. dollar.

  18. Assessment of Salmon Stocks

    E-print Network

    Annual Assessment of Salmon Stocks and Fisheries in England and Wales 2009 #12;#12;SALMON STOCKS;Acknowledgement: This report has been compiled jointly by staff from the Cefas Salmon and Freshwater Fisheries and assessment of salmon stocks is funded by Defra. Both Cefas and the Environment Agency would like to extend

  19. Stock Market Project.

    ERIC Educational Resources Information Center

    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…

  20. INTERDEPENDENCE OF SOUTH ASIAN & DEVELOPED STOCK MARKETS AND THEIR IMPACT ON KSE (PAKISTAN)

    Microsoft Academic Search

    Safdar Hussain Tahir; Hazoor Muhammad Sabir; Yasir Ali; Saima Jamat Ali; Ammara Ismail

    2013-01-01

    The objective of this study was to investigate the interdependence among the South Asian and developed markets and their impact on Karachi Stock Exchange. The data were collected from eight worldly stock exchanges, four from each South Asia and developed countries for the period starting from July, 1999 to June, 2011. For analytical purposes, the techniques like Correlation Matrix, Unit

  1. Collective behavior of stock price movements in an emerging market

    NASA Astrophysics Data System (ADS)

    Pan, Raj Kumar; Sinha, Sitabhra

    2007-10-01

    To investigate the universality of the structure of interactions in different markets, we analyze the cross-correlation matrix C of stock price fluctuations in the National Stock Exchange (NSE) of India. We find that this emerging market exhibits strong correlations in the movement of stock prices compared to developed markets, such as the New York Stock Exchange (NYSE). This is shown to be due to the dominant influence of a common market mode on the stock prices. By comparison, interactions between related stocks, e.g., those belonging to the same business sector, are much weaker. This lack of distinct sector identity in emerging markets is explicitly shown by reconstructing the network of mutually interacting stocks. Spectral analysis of C for NSE reveals that, the few largest eigenvalues deviate from the bulk of the spectrum predicted by random matrix theory, but they are far fewer in number compared to, e.g., NYSE. We show this to be due to the relative weakness of intrasector interactions between stocks, compared to the market mode, by modeling stock price dynamics with a two-factor model. Our results suggest that the emergence of an internal structure comprising multiple groups of strongly coupled components is a signature of market development.

  2. Fractal patterns in Stock Intertrading Times

    NASA Astrophysics Data System (ADS)

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

    2003-03-01

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

  3. Stock Price Reactions to Short-Lived Public Information: The Case of Betting Odds

    Microsoft Academic Search

    F. A. Palomino; L. D. R. Renneboog; C. Zhang

    2005-01-01

    Stock markets and betting markets co-exist for professional soccer clubs listed on the London Stock Exchange.For each firm, two pieces of information are released to the stock market on a weekly basis from August to June: experts expectations about game outcomes through the betting odds, and the game outcomes.Stock markets process the news about games results fast.By contrast, there is

  4. Perinatal mortality in Taiwan.

    PubMed

    Wang, P D; Lin, R S

    1999-01-01

    Information on perinatal deaths was obtained from 310 women by collecting detailed obstetric histories dating from marriage to the start of the survey. These histories were compared to those of 688 age matched controls. Potential risk factors, levels and time trends of perinatal mortality in Taiwan were examined and factors underlying stillbirths and early neonatal deaths were also compared using conditional logistic regression analyses. A nearly 56% decline of the perinatal mortality rate during the 35 y, approximately, prior to the survey was observed. Risk of stillbirths was increased among those who had abused illegal drugs during pregnancy, those who reported that the pregnancy was unwanted and those with Thalassemia trait. Body mass index was log-linearly related with stillbirths, with higher body mass associated with higher risk. For early neonatal deaths, those mothers aged 19 y or less, those giving birth to either their first children or to their fifth or later child, those who had their first prenatal care visit after the first three months of pregnancy were associated with increased risk in the logistic model. Those with a birth interval of less than two years and those with less education were associated with increased risk in both perinatal death groups. While some of these factors have already been associated with perinatal deaths, others have not; the new associations provide clues to mechanisms by which the risk of death increases before or after delivery. PMID:10823745

  5. Black monazite from Taiwan

    USGS Publications Warehouse

    Matzko, J.J.; Overstreet, W.C.

    1977-01-01

    Two forms of detrital monazite are known in offshore bars in southwestern Taiwan: a yellow-green to colorless form and an unusual but abundant pelletlike form, generally black but also colored gray or brown. These black pellets, which are about 160 by 200 microns in size, are composed of fine-grained monazite crystals from 2 to 20 microns in size. The pellets are associated with highly variable amounts of discrete grains of detrital quartz, rutile, amphibole, tourmaline, and other minerals. Intergrown with the monazite are quartz, a cerium oxide mineral, chlorite, sulfides, and other minerals. Opaqueness of the pelletlike monazite is due principally to the cryptocrystalline nature of part of the monazite; only a small part of the opaqueness can be attributed to opaque inclusions. The black pelletlike monazite lacks thorium and has a high content of europium. In this respect, as in color, shape, size, and inclusions, the pelletlike monazite differs from the yellow-green detrital monazite. Despite the fact that they occur together in the littoral placers, they appear to have had different origins. The yellow-green monazite originated as an accessory mineral in plutonic rocks and has accumulated at the coast through erosion and transport. The origin of the pelletlike monazite is as yet unknown, but it is here inferred that it originated in unconsolidated coastal plain sediments through migration of cerium from the detrital monazite during weathering, and of the intermediate weight mobile rare earths from clay minerals during diagenesis. Possibly these pelletlike grains are detrital particles formed through erosion and transport from originally larger aggregates cemented by diagenetic monazite.

  6. Fiches pratiques: "Oui, je viens de Taiwan"; L'habit ne fait pas le moine; Objets inanimes avez-vous donc une ame?; La Bourse et la voix (Practical Ideas: "Yes, I Come from Taiwan"; The Clothes Don't Make the Man; Inanimate Objects, Do You Have a Soul?; The Stock Exchange and the Voice).

    ERIC Educational Resources Information Center

    Durbant, Jean-Claude; And Others

    1988-01-01

    Four ideas for classroom instruction are presented, including an approach to teaching foreign nationals or immigrants, a lesson in clothing and its terminology, an explanation of the symbolism and language of the French Revolution, and a description of how to use radio programs about economics. (MSE)

  7. Taiwan`s experience with municipal waste recycling

    SciTech Connect

    Lee, C.H. [Da-Yeh Univ., Chang-Hwa (Taiwan, Province of China)

    1998-12-31

    Currently, each person on the average produces 1.15 kg of the municipal waste per day and a total of 9 million metric tons were generated annually in Taiwan. The disposal of such a huge amount of waste presents tremendous challenge for the island due to the scarcity of landfills and incineration facilities available locally. EPA of Taiwan, R.O.C. thus takes an active role in promoting waste recycling to reduce the garbage produced in municipalities. In order to efficiently utilize the government`s human and financial resources used in recycling, started from January 31, 1989, EPA has mandated the producer responsibility recycling program for several designated post-consumer products such as PET, PVC bottles, scrap tires, scrap motor vehicles, etc. Producer responsibility recycling program specifies that the manufacturers, importers and sellers of these designated products have the responsibility to retrieve their products and recycle them properly. Several negative effects have been encountered while the implementation of this producer responsibility recycling program in Taiwan which resulted in a modification of this recycling program recently. This paper presents the encountered experiences on the implementation of municipal waste recycling program in Taiwan.

  8. Risk management of Taiwan’s maritime supply chain security

    Microsoft Academic Search

    Yi-Chih Yang

    2011-01-01

    This paper attempts to evaluate the impact of risk factors from the container security initiative (CSI) on the maritime supply chain in Taiwan, employs a loss exposure matrix to identify the severity and frequency of security risk, and uses a bowtie diagram to investigate appropriate risk management strategies to deal with maritime security risks.This paper’s findings consist of the following:

  9. 76 FR 33382 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-08

    ...SECURITIES AND EXCHANGE COMMISSION [Release No. 34-64592...Stock Exchange Transaction Fees to Change the Maker/Taker Fee to a Flat Fee June 3, 2011. Pursuant...the Securities and Exchange Commission (the...

  10. Clustering Based Stocks Recognition

    Microsoft Academic Search

    Yaoyuan Shi; Zhongke Shi

    2006-01-01

    A new stocks analysis method based on clustering is presented in this paper, in which, six-dimension feature space is constructed\\u000a according to the data structure of stock chief-index, and the constructed feature space is analyzed with a new fuzzy kern\\u000a clustering algorithm. We use the Shanghai and Shenzhen’s stock index since 1997 to test our presented method. The results\\u000a show

  11. Kindergartener's Technology Education in Taiwan.

    ERIC Educational Resources Information Center

    Lai, Chun-Chin

    According to the American Association for Advancement of Sciences, the National Academy of Engineering, and the International Technology Education Association (ITEA) and its Technology for All Americans Project (TfAAP), technology education should begin in kindergarten. Educators in Taiwan have also advocated beginning technology education in…

  12. Herbal Medicine Research in Taiwan*

    PubMed Central

    Kaphle, Krishna; Wu, Leang-Shin; Yang, Nai-Yen Jack; Lin, Jen-Hsou

    2006-01-01

    Of all the countries in the world, why did you choose Taiwan to pursue your study? It is a question that I (comments of the first author) have answered a thousand times. My first visit to a laboratory at National Taiwan University opened my eyes to the possibilities of herbal medicine research, especially in the area of veterinary medicine. It became my ambition to link the knowledge of Traditional Chinese Medicine (TCM) and Ayurveda from the Indian subcontinent and their integration with other systems of medicine, including Western medicine (WM), to achieve the concept of Sustainable Medicine, firstly for animals and then for humans. The Ministry of Economic Affairs (MOEA) has implemented a technology development program to quickly establish the key technologies, and this is a moment of opportunity for Taiwan's traditional herbal medicine industry to upgrade and transform itself. This paper, initially intended to be a student's narration, has evolved into a multi-author treatise on the present state and likely future scenario of herbal medicine research in Taiwan. PMID:16550238

  13. Principal Leadership in Taiwan Schools

    ERIC Educational Resources Information Center

    Shouse, Roger C.; Lin, Kuan-Pei

    2010-01-01

    During the past two decades, Taiwan's Ministry of Education has responded to globalization by restructuring school curricular, instructional, and decision making practices along western lines in an attempt to attain legitimacy on the world stage. As a result, Taiwanese principals, once kings within their schools, now must share power with other…

  14. Leptospirosis after Typhoon in Taiwan

    Microsoft Academic Search

    Chun-Hsiang Chiu; Ying-Chuan Wang; Ya-Sung Yang; Feng-Yee Chang

    Background: Leptospirosis, an infectious disease that affects humans and animals, is a common zoonosis with a variety of clinical manifestations. Taiwan is one of the countries with a high incidence of leptospirosis. It is important to recognize the clinical features and risk factors of this disease. The aim of this study is to analyze the characteristics of patients with leptospirosis

  15. Abstract In this paper we present a multi-agent based model of a simulated stock market within

    E-print Network

    Chen, Yiling

    (BP.L) share from the LSE (London Stock Exchange). Throughout the experiment we see successful trading to a baseline buy- and-hold strategy. Keywords ­ Multi-agent System, Simulated Stock Market, Trading StrategiesAbstract ­ In this paper we present a multi-agent based model of a simulated stock market within

  16. Investing in Stocks 

    E-print Network

    Johnson, Jason; Polk, Wade

    2002-08-12

    the price to go up as the company grows. Growth E-162 8-02 INVESTING IN STOCKS Jason Johnson and Wade Polk* * Assistant Professor and Extension Economist?Management, and Extension Program Specialist?Risk Management, The Texas A&M University System. stocks...

  17. A Stock Market Project.

    ERIC Educational Resources Information Center

    Anderson, Christine; Cook, Stan

    1990-01-01

    Offers a field-tested stock market unit designed to develop mathematical skills involving fractions and decimals, basic understanding of the stock market, and hypothesis testing skills in real world situations. Includes tables displaying questions, tally sheets, and instructions, as well as a list of related activities. (MDH)

  18. International Office Study Abroad and Exchange Program

    E-print Network

    Petriu, Emil M.

    ..............................................................................8 Academic Matters 8 Health Insurance 10 Financial requirements 11 Housing / Accommodation 12 Pre.lowe@sydney.edu.au Exchange Adviser for: · Asia-Pacific (China, Hong Kong, Malaysia, New Zealand, Singapore, Taiwan, Thailand located here include Agriculture, Food and Natural Resources, Architecture, Arts & Social S

  19. Public information arrival and volatility of intraday stock returns

    Microsoft Academic Search

    Petko S. Kalev; Wai-Man Liu; Peter K. Pham; Elvis Jarnecic

    2004-01-01

    This study employs firm-specific announcements as a proxy for information flows and investigates the information–volatility relation using high-frequency data from the Australian Stock Exchange. Our analysis reveals a positive and significant impact of the arrival rate of the selected news variable on the conditional variance of stock returns, even after controlling for the potential effects of trading volume and high

  20. The long-term forecast of Taiwan’s energy supply and demand: LEAP model application

    Microsoft Academic Search

    Yophy Huang; Yunchang Jeffrey Bor; Chieh-Yu Peng

    2011-01-01

    The long-term forecasting of energy supply and demand is an extremely important topic of fundamental research in Taiwan due to Taiwan’s lack of natural resources, dependence on energy imports, and the nation’s pursuit of sustainable development. In this article, we provide an overview of energy supply and demand in Taiwan, and a summary of the historical evolution and current status

  1. The Morphologization of Liaison Consonants in Taiwan Min and Taiwan Hakka

    Microsoft Academic Search

    H. Samuel Wang

    2010-01-01

    A liaison consonant is a consonant resulting from the spreading of the final consonant of a syllable to the initial position of an onsetless particle. This study investigated whether such derived consonants are recognized by native speakers of Taiwan Min and Taiwan Hakka. Results of a concept formation and a syllable inversion experiment with Taiwan Min subjects are taken from

  2. Occupational Neurotoxic Diseases in Taiwan

    PubMed Central

    Liu, Chi-Hung; Huang, Chu-Yun

    2012-01-01

    Occupational neurotoxic diseases have become increasingly common in Taiwan due to industrialization. Over the past 40 years, Taiwan has transformed from an agricultural society to an industrial society. The most common neurotoxic diseases also changed from organophosphate poisoning to heavy metal intoxication, and then to organic solvent and semiconductor agent poisoning. The nervous system is particularly vulnerable to toxic agents because of its high metabolic rate. Neurological manifestations may be transient or permanent, and may range from cognitive dysfunction, cerebellar ataxia, Parkinsonism, sensorimotor neuropathy and autonomic dysfunction to neuromuscular junction disorders. This study attempts to provide a review of the major outbreaks of occupational neurotoxins from 1968 to 2012. A total of 16 occupational neurotoxins, including organophosphates, toxic gases, heavy metals, organic solvents, and other toxic chemicals, were reviewed. Peer-reviewed articles related to the electrophysiology, neuroimaging, treatment and long-term follow up of these neurotoxic diseases were also obtained. The heavy metals involved consisted of lead, manganese, organic tin, mercury, arsenic, and thallium. The organic solvents included n-hexane, toluene, mixed solvents and carbon disulfide. Toxic gases such as carbon monoxide, and hydrogen sulfide were also included, along with toxic chemicals including polychlorinated biphenyls, tetramethylammonium hydroxide, organophosphates, and dimethylamine borane. In addition we attempted to correlate these events to the timeline of industrial development in Taiwan. By researching this topic, the hope is that it may help other developing countries to improve industrial hygiene and promote occupational safety and health care during the process of industrialization. PMID:23251841

  3. Analyzing Replacement Stock Alternatives

    E-print Network

    Falconer, Lawrence; McGrann, James M.; Parker, John; Jones, Rodney

    2008-10-21

    Replacement management strategy involves comparing the values of the breeding stock you own with the value of potential replacements, and then choosing the investment with the highest expected worth. This publication discusses the application...

  4. Buildings Stock Load Control

    E-print Network

    Joutey, H. A.; Vaezi-Nejad, H.; Clemoncon, B.; Rosenstein, F.

    2006-01-01

    models of tertiary buildings stocks (Schools, offices, Shops, hotels); ? Making simulations for different load shedding strategies to calculate potential peak power saving. The third part is dedicated to the description of the developed models...

  5. Cross-shelf and along-shelf nutrient fluxes derived from flow fields and chemical hydrography observed in the southern East China Sea off northern Taiwan

    Microsoft Academic Search

    Kon-Kee Liu; Tswen Yung Tang; Gwo-Ching Gong; Liang-Yu Chen; Fuh-Kwo Shiah

    2000-01-01

    Cross-shelf exchange of nutrients (N, P and Si) off northeastern Taiwan and along-shelf transports just north of the Taiwan Strait was assessed using chemical hydrography and velocity fields observed in August 1994 (summer) and March 1997 (winter). The summer survey was conducted along the periphery of a triangle. The velocity field was determined by phase-averaged current velocities measured with ship-borne

  6. Hybrid Machine Learning Technique for Forecasting Dhaka Stock Market Timing Decisions

    PubMed Central

    Banik, Shipra; Khodadad Khan, A. F. M.; Anwer, Mohammad

    2014-01-01

    Forecasting stock market has been a difficult job for applied researchers owing to nature of facts which is very noisy and time varying. However, this hypothesis has been featured by several empirical experiential studies and a number of researchers have efficiently applied machine learning techniques to forecast stock market. This paper studied stock prediction for the use of investors. It is always true that investors typically obtain loss because of uncertain investment purposes and unsighted assets. This paper proposes a rough set model, a neural network model, and a hybrid neural network and rough set model to find optimal buy and sell of a share on Dhaka stock exchange. Investigational findings demonstrate that our proposed hybrid model has higher precision than the single rough set model and the neural network model. We believe this paper findings will help stock investors to decide about optimal buy and/or sell time on Dhaka stock exchange. PMID:24701205

  7. The Stock Market as a Game: An Agent Based Approach to Trading in Stocks

    E-print Network

    Engle, Eric

    2008-01-01

    Just as war is sometimes fallaciously represented as a zero sum game -- when in fact war is a negative sum game - stock market trading, a positive sum game over time, is often erroneously represented as a zero sum game. This is called the "zero sum fallacy" -- the erroneous belief that one trader in a stock market exchange can only improve their position provided some other trader's position deteriorates. However, a positive sum game in absolute terms can be recast as a zero sum game in relative terms. Similarly it appears that negative sum games in absolute terms have been recast as zero sum games in relative terms: otherwise, why would zero sum games be used to represent situations of war? Such recasting may have heuristic or pedagogic interest but recasting must be clearly explicited or risks generating confusion. Keywords: Game theory, stock trading and agent based AI.

  8. Ethnic Inequalities and Educational Attainment in Taiwan

    ERIC Educational Resources Information Center

    Jao, Jui-Chang; McKeever, Matthew

    2006-01-01

    In this article, the authors examine educational stratification in Taiwan against the background of an ethnically based political economy. They investigate how educational attainment is related to ethnicity and other background factors, such as parental class and education, and if these relationships changed over time as Taiwan became a more…

  9. Helmet use and motorcycle fatalities in Taiwan

    Microsoft Academic Search

    Shao-Hsun Keng

    2005-01-01

    Motorcycle deaths accounted for more than half of total traffic fatalities in Taiwan in 2002. This study uses the police-reported crash data from Taiwan between 1999 and 2001 to estimate the effectiveness of helmets, simultaneously taking into account of sample selection bias. Sample selection arises because helmet usage will affect the probability of death or injury, which in turn influences

  10. Epidemiology of hospitalized burns patients in Taiwan

    Microsoft Academic Search

    Wu-Chien Chien; Lu Pai; Chao-Cheng Lin; Heng-Chang Chen

    2003-01-01

    Previous studies based on either single hospital data or sampling of specific groups of hospitalized burns victims in Taiwan have provided only minimal epidemiological information. The study is designed to provide additional data on the epidemiology of hospitalized burns patients in Taiwan. Data were obtained from the Burn Injury Information System (BIIS), which brings together information supplied by 34 contracted

  11. The development of higher education in Taiwan

    Microsoft Academic Search

    Wen-Hsing Wu; Shun-Fen Chen; Chen-Tsou Wu

    1989-01-01

    Taiwan had been ruled by Japan for fifty-one years before the end of World War II. The island's higher education was established during that period, mainly to support Japan's policies of colonization and expansion. When Taiwan was restored to China in 1945, the Japanese system of education was replaced by that of modern China, which followed the American prototype after

  12. Notes on Four Alien Plants in Taiwan

    Microsoft Academic Search

    Ming-Jer Jung; Gwo-Ing Liao; Chang-Sheng Kuoh

    2006-01-01

    Arthraxon lancifolius (Trin.) Hochst., Lamium hybridum Vill., Matricaria matricarioides (Less.) Porter, and Thlaspi arvense L. were found recently in the mountains of central and southern Taiwan. Thlaspi is a new alien genus in the Taiwan flora. Descriptions, illustrations, and photos of these four alien plants are provided for identification.

  13. Management of scrap computer recycling in Taiwan

    Microsoft Academic Search

    Ching-Hwa Lee; Ssu-Li Chang; King-Min Wang; Lih-Chyi Wen

    2000-01-01

    It is estimated that approximately 300,000 scrap personal computers are generated each year in Taiwan [S.-L. Chang, A Study on the Scrap Computer Treatment Cost, Environment Protection Administration of Taiwan, December 1998 (in Chinese)]. The disposal of such a huge number of scrap computers presents a difficult task for the island due to the scarcity of landfills and incineration facilities

  14. Why Do Markets Move Together? An Investigation of U.S.Japan Stock Return Comovements

    Microsoft Academic Search

    G. Andrew Karolyi; Rene M. Stulz

    1996-01-01

    This article explores the fundamental factors that affect cross-country stock return correlations. Using transactions data from 1988 to 1992, the authors construct overnight and intraday returns for a portfolio of Japanese stocks using their NYSE-traded American depository receipts and a matched-sample portfolio of U.S. stocks. They find that U.S. macroeconomic announcements, shocks to the yen\\/dollar foreign exchange rate and Treasury

  15. The Exchange-Rate Risk Exposure of Asset Returns

    Microsoft Academic Search

    Edward H. Chow; Wayne Y. Lee; Michael E. Solt

    1997-01-01

    Real exchange-rate changes affect bonds differently from stocks. Bonds, having relatively fixed income streams, reflect only an interest-rate effect; stocks reflect a conjunction of interest-rate and cash-flow effects. If exchange rate changes contain information about future interest rates and cash flows over more than one period, then using short horizons may not fully capture exchange exposure, which may explain why

  16. Numerical prediction of storm surge around Taiwan

    NASA Astrophysics Data System (ADS)

    Li, H. W.

    2003-04-01

    A numerical model of storm surge is developed to predict the sea level variations due to typhoons approaching Taiwan. The storm surge associating with a typhoon approaching to Taiwan is one of the main causes that floods frequently occur in the low land areas in certain exposed coastlines. Every year typhoons strike Taiwan, especially from June to October. Typhoon surges have caused a lot of catastrophes in the past. The model is based on the hydrodynamical-numerical method. Air pressure gradient and wind stress are considered as the driving forces. A circular storm is taken here as the typhoon model. In this model the bottom topography plays a great role. To verify this numerical model the storm surges due to typhoons approaching Taiwan in 2000 are selected for case studies. In general the computed results agree with the observed data in most tidal gauge stations around Taiwan.

  17. A modelling framework for the prices and times of trades made on the New York stock

    E-print Network

    Wolfe, Patrick J.

    A modelling framework for the prices and times of trades made on the New York stock exchange Tina on a lattice structure. Figure 1 displays the transaction prices in US Dollars for the IBM stock traded using compound Poisson processes to model trade-by-trade nancial data. Our main focus will be on devel

  18. Influence of structural changes in transmission of information between stock markets: A European empirical study

    Microsoft Academic Search

    Vicent Aragó-Manzana; Maria Ángeles Fernández-Izquierdo

    2007-01-01

    The aim of this study is to analyze the influence of structural changes in volatility on the transmission of information. We present empirical evidence on European stock exchange markets based on information from the principal European stock indexes. In order to include structural changes in variance, we followed the [Sansó, A., Aragó, V., Carrión, J.Ll., 2004. Testing for changes in

  19. GARCH Diagnosis with Portmanteau Bicorrelation Test: An Application on the Malaysia's Stock Market

    Microsoft Academic Search

    K. P. Lim; M. J. Hinich; K. S. Liew

    2003-01-01

    This study employed the Hinich portmanteau bicorrelation test (Hinich and Patterson, 1995; Hinich, 1996) as a diagnostic tool to determine the adequacy of the GARCH model in describing the returns generating process of Malaysia’s stock market, specifically the Kuala Lumpur Stock Exchange Composite Index (KLSE CI). The bicorrelation results demonstrated that, while GARCH model is commonly applied to financial time

  20. Nonparametric analysis of the Shenzhen Stock Market: The day of the week effect

    Microsoft Academic Search

    Dejian Lai; Anfen Bai; Kuang-Chao Chang; Heqing Wei; Liangqing Luo

    The day of the week effect of the stock market has been studied extensively by researchers. Most of the conclusions previously made were based on parametric models with the assumption of normality. In this article, after examining the null hypothesis of normality of the log-transformed returns from the daily composite index of the Shenzhen Stock Exchange in China from December

  1. INVESTORS' MOTIVES AND PRICE TRENDS IN INTERNATIONAL MARKETS AND IN THE GRAIN SECTION OF THE BUDAPEST STOCK EXCHANGE1 BEFEKTET?I MOTIVÁCIÓK ÉS ÁRTRENDEK A NEMZETKÖZI PIACOKON ÉS A BUDAPESTI ÉRTÉKT?ZSDE GABONASZEKCIÓJÁBAN

    Microsoft Academic Search

    Imre VÁMOS; Zsuzsanna NOVÁK

    The operation of futures exchanges and the trading on the fl oor is hard to be interpreted without knowing the actors' main motivations. For the solution of this problem a lot of information is provided by theories aimed at revealing the motives of hedge deals having gained acknowledgment in the international special literature, whose short introduction in this paper is

  2. Caught on tape: Institutional trading, stock returns, and earnings announcements

    Microsoft Academic Search

    John Y. Campbell; Tarun Ramadorai; Allie Schwartz

    2009-01-01

    Many questions about institutional trading can only be answered if one tracks high-frequency changes in institutional ownership. In the United States, however, institutions are only required to report their ownership quarterly in 13-F filings. We infer daily institutional trading behavior from the “tape”, the Transactions and Quotes database of the New York Stock Exchange, using a sophisticated method that best

  3. Three-Dimensional Tectonic Model of Taiwan

    NASA Astrophysics Data System (ADS)

    Wu, Francis; Kuo-Chen, Hao; McIntosh, kirk

    2014-05-01

    We built a three-dimensional model of the interactions of the Eurasian plate (EUP) the Philippine Sea plate (PSP) and the collisional orogen, in and around Taiwan. The model is based on the results of comprehensive, milt-prong TAIGER experiments on land and at sea as well as other existing data. The clockwise rotating PSP moves NWW at ~8 cm/year relative to the Taiwan Strait. Under northern Taiwan the northward subducting PSP terminates near the edge of eastern Taiwan and collides with EUP at in increasing depth toward the north. Mountain building due to collision of EUP and PSP tapers off where the PSP goes below about 60 km. The PSP in the asthenosphere continues to advance NWW-ward. In central Taiwan PSP and EUP collide fully, lithosphere against lithosphere in the upper 60 km or so, leading to significant thickening of the crust to about 55 km on the Central Range side and about 35 km on the Coastal Range/Arc side. In between these "roots" a high velocity rise is found. Although a clear, steep dipping high velocity zone under Central Taiwan is detected, it is found not to be associated with seismicity. In southern Taiwan, mountains form over well-defined, seismically active subduction zone. The upper mantle high velocity anomaly appears to be continues with that under central Taiwan, but here an inclined seismic zone is found. In this area the Luzon Arc has not yet encountered the continental shelf - thus arc-continental collision has not yet occurred. The orogeny here may involve inversion of the subducted South China Sea lithosphere, rifted Eurasian continent, and/or escape of continental material from central Taiwan. GPS and Leveling data reflect well the 3-D plate collision model.

  4. Phantom stock dividend plan.

    PubMed

    Griffin, A P; Lewis, J L

    1990-01-01

    The Phantom Stock Dividend Plan is a method of sharing net profits with staff in the same way a stock holder in a company receives periodic dividends. The purposes of the plan are to reward the staff for creative talents and recommendations for improvements; to involve the staff in the concept of being partially responsible for increased profitability of the practice; to encourage long-term employment; and to base increases in staff remuneration on profits rather than simply on seniority. An example of the plan is presented which can be modified to fit different practice situations. PMID:2084216

  5. HVAC Commissioning - A Status Report in Taiwan 

    E-print Network

    Yang, K. H.

    2006-01-01

    Yat--SenSenUniversityUniversityKaohsiungKaohsiung, Taiwan, Taiwankhkh--yang@mail.nsysu.edu.twyang@mail.nsysu.edu.tw 2006.11.2006.11. Introduction I n t ro d uc ti on ?Being located in subtropical area, the weather in Taiwan is constantly hot and humid, with ambient temperature around 35 o Cand relative... the TAB/CX procedure recommended by the Bureau of Energy of Taiwan to be issued in December 2006.?The procedure includes regulations under stages in design, installation, functional tests, and performance in conformity with the design intent...

  6. HVAC Commissioning - A Status Report in Taiwan

    E-print Network

    Yang, K. H.

    2006-01-01

    Yat--SenSenUniversityUniversityKaohsiungKaohsiung, Taiwan, Taiwankhkh--yang@mail.nsysu.edu.twyang@mail.nsysu.edu.tw 2006.11.2006.11. Introduction I n t ro d uc ti on ?Being located in subtropical area, the weather in Taiwan is constantly hot and humid, with ambient temperature around 35 o Cand relative... the TAB/CX procedure recommended by the Bureau of Energy of Taiwan to be issued in December 2006.?The procedure includes regulations under stages in design, installation, functional tests, and performance in conformity with the design intent...

  7. Stock Issues in Aristotle's Rhetoric

    ERIC Educational Resources Information Center

    Harpine, Bill

    1977-01-01

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

  8. Professional knowledge creation in the hospital sector: a qualitative study in Taiwan.

    PubMed

    Yang, Chen-Wei; Fang, Shih-Chieh; Lin, Julia L

    2010-01-01

    This paper aims to develop a professional knowledge creation model for the hospital sector. For this purpose, we qualitatively explore the determinants and process of knowledge creation in the hospital sector. Drawing from organization theory, we develop a hospital's professional knowledge creation model and develop three propositions first. We further explore the theoretical model at organization level by case study in Taiwan. The findings suggest that the hospital's professional knowledge creation is influenced by knowledge stock, social ties and isomorphic pressures as propositions argued. However, hospitals' attempts to keep aligned with their highly institutionalized environments may pay more attention to both existing knowledge stock and the process of professional knowledge creation for their survival. Finally, it is hoped that the significances of this study will contribute to the development of hypotheses in the future quantitative study for building a generalized knowledge creation model for the hospital organization. PMID:20540081

  9. Stockings for the Artists

    ERIC Educational Resources Information Center

    Goebel, Kim

    2009-01-01

    During each of the holiday seasons, the author tries to come up with a lesson that will incorporate art history and have a holiday theme. One recent winter-holiday season, the author was thumbing through a catalog and saw a picture of note cards that had famous artists' stockings hanging on a mantel. This triggered an idea for the author's…

  10. Institutional trading and stock returns

    Microsoft Academic Search

    Fang Cai; Lu Zheng

    2004-01-01

    In this study, we explore the dynamics of the relation between institutional trading and stock returns. We find that stock returns Granger-cause institutional trading (especially purchases) on a quarterly basis. The robust and significant causality from equity returns to institutional trading can be largely explained by the time-series variation of market returns, that is, institutions buy more popular stocks after

  11. Notes on Newly Recorded Grasses in Taiwan

    Microsoft Academic Search

    Ming-Jer Jung; Tian-Shung Wu; Chang-Sheng Kuoh

    2006-01-01

    Agrostis avenacea J. F. Gmel., Agrostis stolonifera L., Alopecurus pratensis L., and Deschampsia atropurpurea (Wahl.) Scheele were recently found at middle elevations of southern and central Taiwan, respectively. We present their descriptions, distribution map, and line-drawings.

  12. Taiwan: Facing the future with nuclear power

    SciTech Connect

    NONE

    1994-07-01

    The republic of China on Taiwan is located approximately 100 miles off the southeast coast of mainland China, between Japan and the Philippines, and has an area of 13,970 square miles. The island nation has a population exceeding twenty million people, with over five million living in the capital of Taipei, making Taiwan the second most densely populated country in the world. The country also has one of the world`s fastest growing economies, with major industries that include electronics, textiles, food processing, chemicals and plastics. Annual growth of Taiwan`s gross national product (GNP) has averaged more than 7 percent for the past several years, and the small island is now the twelfth largest trading nation in the world, with a GNP exceeding US$200 billion.

  13. Opportunity, Choice, and Burglary Victimization in Taiwan.

    PubMed

    Kuo, Shih-Ya

    2015-07-01

    This study examined burglary victimization in Taiwan with an application of the structure-choice model that included four theoretical dimensions: proximity to crime, exposure to crime, target attractiveness, and guardianship. Drawing on the 2000 Taiwan Areas Criminal Victimization Survey, the results of the current study showed a moderate effect of the opportunity model on Taiwan's burglary victimization. Also, this study found both consistent and conflicting findings in the current data. The null effect of motorcycles (including scooters) that represented the concept of target attractiveness in relation to burglary risk reflected a difference in population density and transportation needs between Taiwan and the West. Clearly, the role of social context needs to be understood when studies apply a Western model to a non-Western context. PMID:24459209

  14. Collective Behavior of Stock Prices as a Precursor to Market Crash

    NASA Astrophysics Data System (ADS)

    Maskawa, J.

    We study precursors to the global market crash that occurred onall main stock exchanges throughout the world in October 2008 about three weeks after the bankruptcy of Lehman Brothers Holdings Inc. on 15 September. We examine the collective behavior of stock returns and analyze the market mode, which is a market-wide collective mode, with constituent issues of the FTSE 100 index listed on the London Stock Exchange. Before the market crash, a sharp rise in a measure of the collective behavior was observed. It was shown to be associated with news including the words ``financial crisis". They did not impact stock prices severely alone, but they exacerbated the pessimistic mood that prevailed among stock market participants. Such news increased after the Lehman shock preceding the market crash. The variance increased along with the cumulative amount of news according to a power law.

  15. Democratization and bureaucratic restructuring in Taiwan

    Microsoft Academic Search

    Qingshan Tan

    2000-01-01

    Taiwan has been moving toward democracy, with a dramatic transition taking place in the past decade. Critical to this transition\\u000a is a restructuring of the relationship between the state bureaucracy and society. This study focuses on democratization's\\u000a effect on Taiwan's bureaucracy. In particular, it seeks to examine such aspects of bureaucratic transformation as bureaucratic\\u000a decisionmaking, legislative-bureaucratic politics, interest group-bureaucratic relations,

  16. Synchrotron radiation research center (SRRC) in Taiwan

    NASA Astrophysics Data System (ADS)

    Yen, Edward

    1992-01-01

    Aiming to upgrade the local research environment and to promote local technology, the government of the Republic of China on Taiwan endeavors to construct and establish the first synchrotron radiation facility in Taiwan. The main facility is a 1.3-GeV storage ring with full energy injection from a booster synchrotron. Design and procurement of accelerator components are progressing well. The start of installation is scheduled for February 1992. Commissioning with beam is projected toward the end of 1992.

  17. Deformation and seismicity of Taiwan

    PubMed Central

    Vita-Finzi, Claudio

    2000-01-01

    14C-dated Holocene coastal uplift, conventional and satellite geodetic measurements, and coseismic and aseismic fault slip reveal the pattern of distributed deformation at Taiwan resulting from convergence between the Philippine Sea plate and Eurasia; as in other subduction orogenic settings, the locus of strain release and accumulation is strongly influenced by changes in fault geometry across strike. Uplift evidence from the islands of Lutao and Lanhsu is consistent with progressive oblique collision between the Luzon arc and the Chinese continental margin. In the Coastal Range, geodetic and seismic records show that shortening is taken up serially by discontinuous slip on imbricate faults. The geodetic data point to net extension across the Central Range, but deformed Holocene shorelines in the Hengchun Peninsula at its southern extremity suggest that the extension is a superficial effect partly caused by blind reverse faulting. The fastest shortening rates indicated by geodesy are recorded on the Longitudinal Valley fault and across the Chukou fault within the fold-and-thrust belt. In the former, the strain is dissipated mainly as aseismic reverse and strike-slip displacement. In contrast, the fold-and-thrust belt has witnessed five earthquakes with magnitudes of 6.5 or above in the 20th century, including the 1999.9.21 Chi-Chi earthquake (magnitude ? 7.6) on a branch of the Chukou fault. The neotectonic and geodetic data for Taiwan as a whole suggest that the fold-and-thrust belt will continue to host the majority of great earthquakes on the island. PMID:11016964

  18. Early Austronesians: into and out of Taiwan.

    PubMed

    Ko, Albert Min-Shan; Chen, Chung-Yu; Fu, Qiaomei; Delfin, Frederick; Li, Mingkun; Chiu, Hung-Lin; Stoneking, Mark; Ko, Ying-Chin

    2014-03-01

    A Taiwan origin for the expansion of the Austronesian languages and their speakers is well supported by linguistic and archaeological evidence. However, human genetic evidence is more controversial. Until now, there had been no ancient skeletal evidence of a potential Austronesian-speaking ancestor prior to the Taiwan Neolithic ~6,000 years ago, and genetic studies have largely ignored the role of genetic diversity within Taiwan as well as the origins of Formosans. We address these issues via analysis of a complete mitochondrial DNA genome sequence of an ~8,000-year-old skeleton from Liang Island (located between China and Taiwan) and 550 mtDNA genome sequences from 8 aboriginal (highland) Formosan and 4 other Taiwanese groups. We show that the Liangdao Man mtDNA sequence is closest to Formosans, provides a link to southern China, and has the most ancestral haplogroup E sequence found among extant Austronesian speakers. Bayesian phylogenetic analysis allows us to reconstruct a history of early Austronesians arriving in Taiwan in the north ~6,000 years ago, spreading rapidly to the south, and leaving Taiwan ~4,000 years ago to spread throughout Island Southeast Asia, Madagascar, and Oceania. PMID:24607387

  19. Early Austronesians: Into and Out Of Taiwan

    PubMed Central

    Ko, Albert Min-Shan; Chen, Chung-Yu; Fu, Qiaomei; Delfin, Frederick; Li, Mingkun; Chiu, Hung-Lin; Stoneking, Mark; Ko, Ying-Chin

    2014-01-01

    A Taiwan origin for the expansion of the Austronesian languages and their speakers is well supported by linguistic and archaeological evidence. However, human genetic evidence is more controversial. Until now, there had been no ancient skeletal evidence of a potential Austronesian-speaking ancestor prior to the Taiwan Neolithic ?6,000 years ago, and genetic studies have largely ignored the role of genetic diversity within Taiwan as well as the origins of Formosans. We address these issues via analysis of a complete mitochondrial DNA genome sequence of an ?8,000-year-old skeleton from Liang Island (located between China and Taiwan) and 550 mtDNA genome sequences from 8 aboriginal (highland) Formosan and 4 other Taiwanese groups. We show that the Liangdao Man mtDNA sequence is closest to Formosans, provides a link to southern China, and has the most ancestral haplogroup E sequence found among extant Austronesian speakers. Bayesian phylogenetic analysis allows us to reconstruct a history of early Austronesians arriving in Taiwan in the north ?6,000 years ago, spreading rapidly to the south, and leaving Taiwan ?4,000 years ago to spread throughout Island Southeast Asia, Madagascar, and Oceania. PMID:24607387

  20. Analysis of Realized Volatility in Two Trading Sessions of the Japanese Stock Market

    E-print Network

    Takaishi, Tetsuya; Zheng, Zeyu

    2013-01-01

    We analyze realized volatilities constructed using high-frequency stock data on the Tokyo Stock Exchange. In order to avoid non-trading hours issue in volatility calculations we define two realized volatilities calculated separately in the two trading sessions of the Tokyo Stock Exchange, i.e. morning and afternoon sessions. After calculating the realized volatilities at various sampling frequencies we evaluate the bias from the microstructure noise as a function of sampling frequency. Taking into account of the bias to realized volatility we examine returns standardized by realized volatilities and confirm that price returns on the Tokyo Stock Exchange are described approximately by Gaussian time series with time-varying volatility, i.e. consistent with a mixture of distributions hypothesis.

  1. 75 FR 39067 - Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by New York Stock...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-07-07

    ...Stock Exchange LLC Amending Rule 80C To Add Additional Securities to the Pilot Rule...The Exchange proposes to amend Rule 80C to add additional securities to the pilot rule...The Exchange proposes to amend Rule 80C to add securities included in the Russell...

  2. State-Space Estimation of Soil Organic Carbon Stock

    NASA Astrophysics Data System (ADS)

    Ogunwole, Joshua O.; Timm, Luis C.; Obidike-Ugwu, Evelyn O.; Gabriels, Donald M.

    2014-04-01

    Understanding soil spatial variability and identifying soil parameters most determinant to soil organic carbon stock is pivotal to precision in ecological modelling, prediction, estimation and management of soil within a landscape. This study investigates and describes field soil variability and its structural pattern for agricultural management decisions. The main aim was to relate variation in soil organic carbon stock to soil properties and to estimate soil organic carbon stock from the soil properties. A transect sampling of 100 points at 3 m intervals was carried out. Soils were sampled and analyzed for soil organic carbon and other selected soil properties along with determination of dry aggregate and water-stable aggregate fractions. Principal component analysis, geostatistics, and state-space analysis were conducted on the analyzed soil properties. The first three principal components explained 53.2% of the total variation; Principal Component 1 was dominated by soil exchange complex and dry sieved macroaggregates clusters. Exponential semivariogram model described the structure of soil organic carbon stock with a strong dependence indicating that soil organic carbon values were correlated up to 10.8m.Neighbouring values of soil organic carbon stock, all waterstable aggregate fractions, and dithionite and pyrophosphate iron gave reliable estimate of soil organic carbon stock by state-space.

  3. Social Presence for Different Tasks and Perceived Learning in Online Hospitality Culture Exchange

    ERIC Educational Resources Information Center

    Wang, Mei-jung; Chen, Hsueh Chu

    2013-01-01

    This study utilized online discussion and project construction tasks to determine the extent of social presence and collaborative learning for hospitality culture exchange. The online culture exchange lasted for 6 weeks from September to November 2011. Forty-four English majors from a hospitality college in Taiwan and an institute of education in…

  4. Taiwan International Graduate Program --Molecular and Biological Agricultural Sciences Introduction

    E-print Network

    Taiwan International Graduate Program -- Molecular and Biological Agricultural Sciences and Microbial Biology, the Institute of Cellular and Organismic Biology, and the Institute of Molecular Biology in specialized areas of agricultural biology. The Taiwan International Graduate Program (TIGP) in Molecular

  5. Chinese Teenagers Perceptions of and Attitudes toward Taiwan Mandarin 

    E-print Network

    Juan, Yu-Tien

    2011-11-23

    This dissertation is a language attitude study which has Taiwan Mandarin as its main concern. The study is based on a pilot study, which suggests Chinese people’s attitudes toward Hong Kong and Taiwan Mandarin related ...

  6. New Dryinidae from Sulawesi and Taiwan (Hymenoptera: Chrysidoidea)

    Microsoft Academic Search

    M. Olmi

    1992-01-01

    The following new species of Dryinidae are described: Anteon heppneri and martiale from Taiwan; Anteon cerberum, flaccum and subdignum; Thaumatodryinus noyesi; Dryinus alboniger and mansus from Sulawesi. The male of Lonchodryinus sinensis Olmi is described from Taiwan.

  7. StockMaster: A Java-Based Stock Portfolio Manager

    Microsoft Academic Search

    Bhagyashri Bhagvat; Mark J. Boyd; James Freeby; Edward Parrish

    This paper introduces StockMaster, a stock portfolio manager which uses Java applets and applications to provide portfolio information for users through a web interface. Stock- Master uses a three-tier architecture. The tiers include an applet which interfaces with a server-side application, which in turn accesses a database\\/quote server. Use of design pat- terns, extensible object-oriented programming methods, and database design

  8. Public Health Responses to Reemergence of Animal Rabies, Taiwan, July 16–December 28, 2013

    PubMed Central

    Huang, Angela Song-En; Chen, Wan-Chin; Huang, Wan-Ting; Huang, Shih-Tse; Lo, Yi-Chun; Wei, Sung-Hsi; Kuo, Hung-Wei; Chan, Pei-Chun; Hung, Min-Nan; Liu, Yu-Lun; Mu, Jung-Jung; Yang, Jyh-Yuan; Liu, Ding-Ping; Chou, Jih-Haw; Chuang, Jen-Hsiang; Chang, Feng-Yee

    2015-01-01

    Taiwan had been free of indigenous human and animal rabies case since canine rabies was eliminated in 1961. In July 2013, rabies was confirmed among three wild ferret-badgers, prompting public health response to prevent human rabies cases. This descriptive study reports the immediate response to the reemergence of rabies in Taiwan. Response included enhanced surveillance for human rabies cases by testing stored cerebrospinal fluids (CSF) from patients with encephalitides of unknown cause by RT-PCR, prioritizing vaccine use for postexposure prophylaxis (PEP) during periods of vaccine shortage and subsequent expansion of PEP, surveillance of animal bites using information obtained from vaccine application, roll out of preexposure prophylaxis (PrEP) with vaccine stock restoration, surveillance for adverse events following immunization (AEFI), and ensuring surge capacity to respond to general public inquiries by phone and training for healthcare professionals. Enhanced surveillance for human rabies found no cases after testing 205 stored CSF specimens collected during January 2010–July 2013. During July 16 to December 28, 2013, we received 8,241 rabies PEP application; 6,634 (80.5%) were consistent with recommendations. Among the 6,501persons who received at least one dose of rabies vaccine postexposure, 4,953 (76.2%) persons who were bitten by dogs; only 59 (0.9%) persons were bitten by ferret-badgers. During the study period, 6,247 persons received preexposure prophylaxis. There were 23 reports of AEFI; but no anaphylaxis, Guillain-Barré syndrome, or acute disseminated encephalomyelitis were found. During the study period, there were 40,312 calls to the Taiwan Centers for Disease Control hotline, of which, 8,692 (22%) were related to rabies. Recent identification of rabies among ferret-badgers in a previously rabies-free country prompted rapid response. To date, no human rabies has been identified. Continued multifaceted surveillance and interministerial collaboration are crucial to achieve the goal of rabies-free status in Taiwan. PMID:26162074

  9. Super Typhoon Halong off Taiwan

    NASA Technical Reports Server (NTRS)

    2002-01-01

    On July 14, 2002, Super Typhoon Halong was east of Taiwan (left edge) in the western Pacific Ocean. At the time this image was taken the storm was a Category 4 hurricane, with maximum sustained winds of 115 knots (132 miles per hour), but as recently as July 12, winds were at 135 knots (155 miles per hour). Halong has moved northwards and pounded Okinawa, Japan, with heavy rain and high winds, just days after tropical Storm Chataan hit the country, creating flooding and killing several people. The storm is expected to be a continuing threat on Monday and Tuesday. This image was acquired by the Moderate Resolution Imaging Spectroradiometer (MODIS) on the Terra satellite on July 14, 2002. Please note that the high-resolution scene provided here is 500 meters per pixel. For a copy of the scene at the sensor's fullest resolution, visit the MODIS Rapid Response Image Gallery. Image courtesy Jacques Descloitres, MODIS Land Rapid Response Team at NASA GSFC

  10. The Taiwan Telemetered Seismographic Network

    NASA Astrophysics Data System (ADS)

    Wang, Jeen Hwa

    1989-11-01

    In 1972, the Taiwan Telemetered Seismographic Network (TTSN) was installed to monitor earthquakes occurring in an area from 21 to 26°N latitude and from 119 to 123°E longitude. The number of stations increased from six in 1972 to 24 in 1987. The stations are equipped with velocity-type seismometers with a natural frequency of 1 Hz. Since 1983, horizontal-component sensors have been added at several stations. Signals recorded by the field stations are transmitted to Taipei Recording Center through telephone lines or radio, and then recorded on FM magnetic tapes, paper, and nine-track magnetic tapes through A/D converters. Hypocenters of earthquakes are routinely determined by a HYPOC2 computer program. The size of an earthquake is estimated from the signal duration. Moreover, a simulated Wood-Anderson seismographic station is in operation at Taipei for the determination of local magnitude. A seismic work system (SWS) is being established for automatic data acquisition and data processing. To avoid clipping of signal amplitude, an Optimum Telemetry System is being linked to the TTSN.

  11. A review of environmental and economic regulations for promoting industrial waste recycling in Taiwan.

    PubMed

    Tsai, W T; Chou, Y H

    2004-01-01

    The objective of this paper is to present a compilation of recent Taiwan government laws/regulations to promote industrial waste recycling. The description is thus centered on legislation/regulations concerning general industrial wastes recycling in the policies of environmental protection, economic incentives and engineering technologies (3E) that have become effective since 2001. The regulatory system, including Waste Disposal Act, Resource Recycling/Reuse Act, Environmental Basis Law, and Statute for Upgrading Industries, not only gives financial incentives, but also provides technical assistance and information transfer on promoting industrial waste recycling. In order to further utilize the recyclable resources and upgrade the environmental technology, Taiwan's Environmental Protection Administration (EPA), in cooperation with the Ministry of Economic Affairs (MOEA), has jointly ventured some promotion programs, which highlight an Industrial Waste Exchange Information Center and Environmental Technology Park Development Program, also described in the paper. PMID:15567671

  12. 77 FR 72884 - Steel Wire Garment Hangers From Taiwan

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-06

    ...731-TA-1197 (Final)] Steel Wire Garment Hangers From Taiwan Determination On the...injured by reason of imports of steel wire garment hangers from Taiwan, provided for in...by Commerce that imports of steel wire garment hangers from Taiwan were dumped...

  13. The perspective of manager in developing foreign workers in Taiwan

    Microsoft Academic Search

    Huang Han Chun

    2006-01-01

    Abstract From the ethic concept of Chinese ,people to view ,foreigner who ,works in Taiwan, people will agree to accept the strategy that employs foreign workers in Taiwan, if foreign workers will bring technology and try to assist industry to have better performance. Otherwise, the attitude of Taiwan people is that they are very severe and don’t expect to have

  14. A case study of the SMEs' organizational restructuring in Taiwan

    Microsoft Academic Search

    Hsin-pin Fu; Tien-hsiang Chang; Ming-ji Wu

    2001-01-01

    Business process reengineering (BPR) has been widely applied in many enterprises. However, most cases have targeted large enterprises. In Taiwan, small and medium enterprises (SMEs), which account for at least 95 per cent of all enterprises, have played an extremely important role in Taiwan’s economic growth. The question of whether those SMEs can successfully implement BPR in order to strengthen

  15. Language Shift and Language Accommodation across Family Generations in Taiwan

    ERIC Educational Resources Information Center

    Sandel, Todd L.; Chao, Wen-Yu; Liang, Chung-Hui

    2006-01-01

    This study explored language shift and accommodation among bilingual Mandarin and Tai-gi (also called Hokkien, Holo, Tai-gu, Taiwan Min, Taiwanese) families in Taiwan. From the 1940s until the 1980s the Chinese Nationalist Party (KMT) on Taiwan promoted Mandarin Chinese. Recent years have witnessed a shift in policy: since 2001 elementary schools…

  16. Recycling and reuse of industrial wastes in Taiwan

    Microsoft Academic Search

    Meng-Shiun Wei; Kuo-Hei Huang

    2001-01-01

    Eighteen million metric tons of industrial wastes are produced every year in Taiwan. In order to properly handle the industrial wastes, the Taiwan Environmental Protection Administration (Taiwan EPA) has set up strategic programs that include establishment of storage, treatment, and final disposal systems, establishment of a management center for industrial wastes, and promotion of recycling and reuse of industrial wastes.

  17. Spin-offs to stock markets as a complementary form of entrepreneurship: Contrasting US, UK and Japanese experiences

    Microsoft Academic Search

    Annaleena Parhankangas; Åsa Lindholm-Dahlstrand

    2011-01-01

    This study explores the impact of the national institutional environment on the listing of firms on stock exchanges in Japan, the US, and the UK. In particular, the study compares the incidence of: (1) independent firm initial public offerings (IPOs); and (2) the subsidiaries of established corporations being spun-off to stock markets. An empirical analysis is conducted on a sample

  18. Spin-offs to stock markets as a complementary form of entrepreneurship: Contrasting US, UK and Japanese experiences

    Microsoft Academic Search

    Annaleena Parhankangas; Åsa Lindholm-Dahlstrand

    2012-01-01

    This study explores the impact of the national institutional environment on the listing of firms on stock exchanges in Japan, the US, and the UK. In particular, the study compares the incidence of: (1) independent firm initial public offerings (IPOs); and (2) the subsidiaries of established corporations being spun-off to stock markets. An empirical analysis is conducted on a sample

  19. A test of the news model of stock price determination in an emerging market: the case of Kuwait

    Microsoft Academic Search

    Imad Moosa; Sulaiman Al-Abduljader

    2010-01-01

    A news model of stock price determination is specified and estimated using the Kuwait Stock Exchange (KSE) index as the price variable over the period January 1996 to December 2004. Of the five explanatory news variables, only the news terms of the money supply and government revenue turned out to be significant and correctly signed. Some weaker evidence is found

  20. IMPACT OF FIRM'S CHARACTERISTICS ON STOCK RETURN: A CASE OF NON-FINANCIAL LISTED COMPANIES IN PAKISTAN

    Microsoft Academic Search

    Safdar Hussain Tahir; Hazoor Muhammad Sabir; Toheed Alam; Ammara Ismail

    2013-01-01

    The unique characteristics of the firms have some power to predict the expected returns. This study was conducted with an attempt to bridge the gap in the literature by offering empirical evidence about firm's characteristics and their effect to stock returns. The secondary data of 307 Non- financial companies listed in Karachi Stock Exchange (KSE) were collected from the B-Recorder

  1. Maine and The Mortal Sea: Taking Stock of the Past, Present and Future of Our Living Sea

    E-print Network

    Thomas, Andrew

    Maine and The Mortal Sea: Taking Stock of the Past, Present and Future of Our Living Sea Darling for an interdisciplinary exchange based on W. Jeffrey Bolster's prize-winning book The Mortal Sea: Fishing the Atlantic

  2. Background Report: Employee Stock Options

    NSDL National Science Digital Library

    This publication from the Financial Markets Center offers a closer look at the rise of stock options. The report "summarizes the key trends in the use of stock options and highlights the broader implications of this practice for measuring earnings and conducting national economic policy." Five points are discussed in this nine-page document, allowing readers to understand the basic principles and problems surrounding stock options. Anyone wanting to gain a basic understanding of stock options will enjoy this easy-to-read report.

  3. Big country dependent economy development of Taiwan—Functions of Japan, the US, and China in Taiwan's economy development

    Microsoft Academic Search

    Jung Hsiung-Shen; Ting-Sheng Weng

    2010-01-01

    Although with limited land and resources and a dense population, Taiwan, situated in eastern Asia, has developed to be a model in the eyes of international economists after World War II; its cause and process worth study. As well known, the island economy- based Taiwan has to rely on big country economy in order to develop smoothly; moreover, the Taiwan's

  4. Statistical properties and pre-hit dynamics of price limit hits in the chinese stock markets.

    PubMed

    Wan, Yu-Lei; Xie, Wen-Jie; Gu, Gao-Feng; Jiang, Zhi-Qiang; Chen, Wei; Xiong, Xiong; Zhang, Wei; Zhou, Wei-Xing

    2015-01-01

    Price limit trading rules are adopted in some stock markets (especially emerging markets) trying to cool off traders' short-term trading mania on individual stocks and increase market efficiency. Under such a microstructure, stocks may hit their up-limits and down-limits from time to time. However, the behaviors of price limit hits are not well studied partially due to the fact that main stock markets such as the US markets and most European markets do not set price limits. Here, we perform detailed analyses of the high-frequency data of all A-share common stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2000 to 2011 to investigate the statistical properties of price limit hits and the dynamical evolution of several important financial variables before stock price hits its limits. We compare the properties of up-limit hits and down-limit hits. We also divide the whole period into three bullish periods and three bearish periods to unveil possible differences during bullish and bearish market states. To uncover the impacts of stock capitalization on price limit hits, we partition all stocks into six portfolios according to their capitalizations on different trading days. We find that the price limit trading rule has a cooling-off effect (object to the magnet effect), indicating that the rule takes effect in the Chinese stock markets. We find that price continuation is much more likely to occur than price reversal on the next trading day after a limit-hitting day, especially for down-limit hits, which has potential practical values for market practitioners. PMID:25874716

  5. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ...2014-04-01 false Stock for stock of the same corporation. 1.1036-1 Section...1.1036-1 Stock for stock of the same corporation. (a) Section 1036...preferred stock for preferred stock, in the same corporation. Section 1036...

  6. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ...2013-04-01 false Stock for stock of the same corporation. 1.1036-1 Section...1.1036-1 Stock for stock of the same corporation. (a) Section 1036...preferred stock for preferred stock, in the same corporation. Section 1036...

  7. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ...2011-04-01 false Stock for stock of the same corporation. 1.1036-1 Section...1.1036-1 Stock for stock of the same corporation. (a) Section 1036...preferred stock for preferred stock, in the same corporation. Section 1036...

  8. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ...2010-04-01 true Stock for stock of the same corporation. 1.1036-1 Section...1.1036-1 Stock for stock of the same corporation. (a) Section 1036...preferred stock for preferred stock, in the same corporation. Section 1036...

  9. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ...2012-04-01 false Stock for stock of the same corporation. 1.1036-1 Section...1.1036-1 Stock for stock of the same corporation. (a) Section 1036...preferred stock for preferred stock, in the same corporation. Section 1036...

  10. Scaling analysis of stock markets

    NASA Astrophysics Data System (ADS)

    Bu, Luping; Shang, Pengjian

    2014-06-01

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

  11. Capital Structure and Stock Returns

    ERIC Educational Resources Information Center

    Welch, Ivo

    2004-01-01

    U.S. corporations do not issue and repurchase debt and equity to counteract the mechanistic effects of stock returns on their debt-equity ratios. Thus over one- to five-year horizons, stock returns can explain about 40 percent of debt ratio dynamics. Although corporate net issuing activity is lively and although it can explain 60 percent of debt…

  12. "Stocking Up" on Mathematics Skills.

    ERIC Educational Resources Information Center

    Bitner, Joe; Partridge, M. Elizabeth

    1991-01-01

    Described is a "stock market" game in which students can strengthen many mathematical concepts and skills while learning more about economics and world events. Background information on the stock market, directions for playing the game, a worksheet, and ways to integrate other curriculum areas are included. (KR)

  13. The trophic consequences of oyster stock rehabilitation in Chesapeake Bay

    Microsoft Academic Search

    Robert E. Ulanowicz; Jon H. Tuttle

    1992-01-01

    There is mounting speculation that overharvesting of oyster stocks (Crassostrea virginica) in Chesapeake Bay may be a factor contributing to the decline in water quality and shifts in the dominance of species inhabiting\\u000a the estuary. The trophic consequences of increasing the oyster population may be addressed using a simple quasi-equilibrium,\\u000a mass action model of the exchanges transpiring in the Chesapeake

  14. Empirical shape function of limit-order books in the Chinese stock market

    Microsoft Academic Search

    Gao-Feng Gu; Wei Chen; Wei-Xing Zhou

    2008-01-01

    We have analyzed the statistical probabilities of limit-order book (LOB) shape through building the book using the ultra-high-frequency data from 23 liquid stocks traded on the Shenzhen Stock Exchange in 2003. We find that the averaged LOB shape has a maximum away from the same best price for both buy and sell sides of the LOB. The LOB shape function

  15. What Does the Stock Market Tell Us About Real Estate Returns?

    Microsoft Academic Search

    Joseph Gyourko; Donald B. Keim

    1992-01-01

    This paper analyzes the risks and returns of different types of real estate-related firms traded on the New York and American stock exchanges (NYSE and AMEX). We examine the relation between real estate stock portfolio returns and returns on a standard appraisal-based index, and find that lagged values of traded real estate portfolio returns can predict returns on the appraisal-based

  16. Meconium aspiration syndrome: experiences in Taiwan

    Microsoft Academic Search

    H C Lin; S Y Wu; J M Wu; T F Yeh

    2008-01-01

    Meconium aspiration syndrome (MAS) is still one of the most challenged diseases for the neonatologists. We reviewed our earlier studies of MAS in an attempt to provide some idea for more understanding of MAS. This study is a retrospective review and summarization of our earlier studies in MAS at two tertiary neonatal centers in Taiwan. Incidence of MAS was decreased

  17. Measuring Automobile Insurance Fraud in Taiwan

    Microsoft Academic Search

    Chu-Shiu Li; Chwen-Chi Liu; Sheng-Chang Peng

    Abstract Byconducting an extensive exploration on claim data, this paper attempts to investigate the fraud problem ,in Taiwan ,automobile ,physical damage ,insurance. Based on the different claim patterns between data in calendar year and policy year, excess claims are significantly identified in the last month ,of policy ,year. Censored regression provides robust estimation concerning the sources of the fraud payment.

  18. High Resolution Taiwan Moho Discontinuity Reference Model

    Microsoft Academic Search

    H. Chen; K. Syu; H. Wang; Y. Duan; L. Zhu

    2009-01-01

    Investigation on the azimuthal variation of receiver function (RF) waveforms affected by lateral velocity, depth and dip angle changes of Moho discontinuity is conducted through systematic analysis and simulation. Using 500 teleseismic events recorded by 104 broadband stations deployed during 2006-2008, we propose more detailed image of Taiwan Moho Discontinuity Reference Model. For RF dataset, identification of Ps phase through

  19. Industrial restructuring and international competition in Taiwan

    Microsoft Academic Search

    C-L Tsay

    1993-01-01

    In this paper trends and varying types of industrial restructuring in Taiwan are examined as the island continues to lose comparative advantage in international markets. Based on some official statistics, triggers of industrial restructuring are explored and the corporate strategies of industries are identified. There is evidence of specific triggers of industrial restructuring which include shortage of labor, rising domestic

  20. Restructuring Taiwan's port state control inspection authority

    Microsoft Academic Search

    Shy-tzong Liou; Chung-Ping Liu; Chih-Ching Chang; David C. Yen

    2011-01-01

    To improve marine transportation safety, countries around the world have established authorities dedicated to implementing port state control (PSC). Appropriate measures have also been taken to ensure that these dedicated organizations are given enough power to carry out their duties independently and credibly as a safety mechanism. In contrast, Taiwan's existing PSC inspections are administrated by commercial port authorities, causing

  1. Women's Aspirations for Graduate Education in Taiwan

    ERIC Educational Resources Information Center

    Lin, Meng-Jie

    2011-01-01

    This study investigates female undergraduates' aspirations for master's and doctoral degree programs in Taiwan's universalized and stratified higher education system. It considers the potential effects of economic prospects, parental attitudes, and gender values. First, graduate education is perceived as a means to enhance one's comparative…

  2. Brief Introduction to Technology Education in Taiwan

    ERIC Educational Resources Information Center

    Lee, Lung-Sheng; Wang, Shin Ting; Wang, Buddy; Ko, Jerome; Wang, Ching Hsiang; He, Chi Chun; Wu, Hsiao Liang; Lu, Nancy; Shen, Yuoh Ching; Lin, Ran long; Ling, Yung Shun; Chang, Ming Chieh; Chen, Te Jen; Fong, Sha Zon; Huang, Chiung

    2004-01-01

    Technology Education at both elementary and secondary schools levels has become an important means to develop technological literacy for all. In Taiwan, Living Technology (LT) is offered at both elementary and secondary school levels in order to improve technological literacy of the public. This brief introduction presents the national status of…

  3. Notes on Alien Bromus Grasses in Taiwan

    Microsoft Academic Search

    Ming-Jer Jung; Chang-Sheng Kuoh

    2006-01-01

    Bromus carinatus Hook. & Arn., Bromus hordeaceus L., Bromus pubescens Muhl. ex Willd. and Bromus secalinus L. were recently found at middle elevations of southern and central Taiwan, respectively. We present taxonomic treatments, distribution map, and line-drawings of these introduced alien brome grasses.

  4. No Aboriginal Students left Behind in Taiwan

    ERIC Educational Resources Information Center

    Wu, Sue-Jen; Hartzler-Miller, Cynthia

    2005-01-01

    The project is motivated by Taiwan's huge gap of educational levels between the aborigines and the Hans. The low achievement of aboriginal students lies in factors related to problems in finance, health, and cultural difference, which contribute to their sense of self-deprecation. The purpose of the project is to provide early intervention and…

  5. Characteristics of Medical Waste in Taiwan

    Microsoft Academic Search

    Hsien-Wen Kuo; Shu-Lung Shu; Chin-Chung Wu; Jim-SHoung Lai

    1999-01-01

    The purpose of this study was threefold: to investigate the types and amounts of medical waste from various hospitals in Taiwan; to analyze residues from incinerated medical waste for heavy metal content; and to measure the amount of infectious and general medical waste per bed per day and determine the ratio of infectious to general medical waste. Information was first

  6. Thermochronometry and Exhumational Steady State in Taiwan

    Microsoft Academic Search

    S. D. Willett; D. Fisher; C. Fuller

    2002-01-01

    New apatite and zircon fission track results from the Taiwan arc-continent collision are consistent with southward propagation of a double-sided orogen that progressively grows in size until achieving topographic steady state (SS), then exhumational SS, a condition that reflects a long term balance between rock uplift and exhumation. Because the orientation of the Asian continental margin is oblique to the

  7. ACADEMIA SINICA Taiwan International Graduate Program

    E-print Network

    Nano Science and Technology Program Taiwan International Graduate Program (TIGP) Academia Sinica has universities are involved in various programs TIGP Program on"Nano Science and Technology" Within this context, the graduate program on"Nano Science and Technology"is designed to offer specific training and research

  8. Internet Addiction among High Schoolers in Taiwan.

    ERIC Educational Resources Information Center

    Lin, Sunny S. J.; Tsai, Chin-Chung

    The purpose of this study was to develop a reliable and valid measurement for the identification of Internet addictive high school students. There were 615 subjects selected by a stratified sampling from the population of Taiwanese 10th to 12th graders. The final version of the Internet Addiction Scale for Taiwan High Schoolers (IAST) contained 20…

  9. Current Status of Antimicrobial Resistance in Taiwan

    Microsoft Academic Search

    Po-Ren Hsueh; Cheng-Yi Liu; Kwen-Tay Luh

    2002-01-01

    While some trends in antimicrobial resistance rates are universal, others appear to be unique for specific regions. In Taiwan, the strikingly high prevalence of resistance to macrolides and streptogramin in clinical isolates of gram-positive bacteria correlates with the widespread use of these agents in the medical and farming communities, respectively. The relatively low rate of enterococci that are resistant to

  10. Money and capital as competing media of exchange

    Microsoft Academic Search

    Ricardo Lagos; Guillaume Rocheteau

    2006-01-01

    We construct a model in which capital competes with fiat money as a medium of exchange, and establish conditions on fundamentals under which fiat money can be both valued and socially beneficial. When the socially efficient stock of capital is too low to provide the liquidity agents need, they overaccumulate productive assets to use as media of exchange. When this

  11. Money and capital as competing media of exchange

    Microsoft Academic Search

    Ricardo Lagos; Guillaume Rocheteau

    2004-01-01

    We construct a model where capital competes with fiat money as a medium of exchange, and we establish conditions on fundamentals under which fiat money can be both valued and socially beneficial. When the socially efficient stock of capital is too low to provide the liquidity agents need, they overaccumulate productive assets to use as media of exchange. When this

  12. Money and capital as competing media of exchange

    Microsoft Academic Search

    Ricardo Lagos; Guillaume Rocheteau

    2008-01-01

    We construct a model where capital competes with fiat money as a medium of exchange, and establish conditions on fundamentals under which fiat money can be both valued and socially beneficial. When the socially efficient stock of capital is too low to provide the liquidity agents need, they overaccumulate productive assets to use as media of exchange. When this is

  13. ION EXCHANGE

    EPA Science Inventory

    The IONEX program's name is a contraction of "ion exchange." The IONEX program performs calculations related to removing radium and/or uranium from water with the ion exchange process. IONEX provides a quick method of calculating whether a proposed ion exchange process will m...

  14. 78 FR 39256 - Polyvinyl Alcohol From Taiwan: Rescission of Antidumping Duty Administrative Review; 2012-2013

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-01

    ...Administration [A-583-841] Polyvinyl Alcohol From Taiwan: Rescission of Antidumping...the antidumping duty order on polyvinyl alcohol (PVA) from Taiwan for the period March...CCPC to the Department, ``Polyvinyl Alcohol from Taiwan: Withdrawal of...

  15. 75 FR 22842 - Polyethylene Retail Carrier Bags From Indonesia, Taiwan, and Vietnam

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-04-30

    ...Polyethylene Retail Carrier Bags From Indonesia, Taiwan, and Vietnam Determinations...material injury by reason of imports from Indonesia, Taiwan, and Vietnam of PRCBs that...by Commerce that imports of PRCBs from Indonesia, Taiwan, and Vietnam were being...

  16. Using Neural Network and Genetic Programming Techniques to Forecast Inter-Commodity Spreads

    Microsoft Academic Search

    Meng-feng Yen; Tsung-nan Chou; Hung-chih Li; Ying-yue Ho

    2007-01-01

    In this article, we use both neural network (hereafter NN) and genetic programming (hereafter GP) to forecast the trend of the price spread between Taiwan Stock Exchange Electronic Index Futures (hereafter TE) and Taiwan Stock Exchange Finance Sector Index Futures (hereafter TF). A variety of technical indicators are used as the inputs to our two models. We tend to long

  17. Reference points for optimal fish stock management

    Microsoft Academic Search

    Odd Nakken; Per Sandberg; Stein Ivar Steinshamn

    1996-01-01

    In the North Atlantic the Icelandic, the North Sea, and the Newfoundland cod stocks are currently overexploited. Overexploitation also characterised the Northeast Arctic cod stock, but effective management measures introduced in 1990 and the years thereafter have brought this stock within safe biological limits. The Northeast Arctic cod stock is transboundary and shared between Norway and Russia. As guidelines for

  18. Forecast Technical Document Growing Stock Volume

    E-print Network

    composition, growth rates, stocking and age distribution. Data describing the intended management of forest for stand growth and removals need to be made to growing stock volume estimates. Growing stock volume of a growing stock volume forecast involves 4 data sets: Data on areas of forest in terms of species

  19. ValuePro Stock Value Calculator

    NSDL National Science Digital Library

    This online calculator tabulates the baseline valuation for any publicly traded stock. Enter the stock's ticker symbol, and the program will value the stock. Users may also change any of the input for a stock and revalue it. The site contains a brief helpful guide to using online valuation and a thoughtful review of the product from Business Week.

  20. Stocking and Aquaculture K. Limburg, lecture notes

    E-print Network

    Limburg, Karin E.

    " ­ who is going to use the fish? · Enhancing threatened/endangered species · Introduced species issues1 Stocking and Aquaculture K. Limburg, lecture notes Fisheries Science & Management Photo: Utah DNR Photo: FAO I. Stocking Why stock fish? Fish stocking, at least as a part of aquaculture, has had a long

  1. Islamic Finance Bulletin Conventional Stock Markets 2

    E-print Network

    Meju, Max

    Islamic Finance Bulletin April 2012 Conventional Stock Markets 2 Islamic Stock Markets 4 Bond- lar increased from oil importers, and as #12;StockMarkets Table 2: Evolution of Islamic Stock Markets/golcer/www.lums.lancs.ac.uk/research/centres/golcer/ Islamic or Shariah compliant indices exclude industries whose lines of business incorporate forbidden

  2. Gastric Cancer Mortality and Drinking Water Qualities in Taiwan

    Microsoft Academic Search

    C.-Y. Yang; H.-F. Chiu; J.-F. Chiu; M.-F. Cheng; W.-Y. Kao

    1997-01-01

    .   The possible association between the risk of gastric cancer and nitrate and hardness in drinking water from municipal supplies\\u000a was investigated in a matched case-control study in Taiwan. Data on gastric cancer deaths among eligible residents in Taiwan\\u000a from 1987 through 1991 (6,766 cases) were obtained from the Bureau of Vital Statistics of the Taiwan Provincial Department\\u000a of Health.

  3. Tourism climate and thermal comfort in Sun Moon Lake, Taiwan

    Microsoft Academic Search

    Tzu-Ping Lin; Andreas Matzarakis

    2008-01-01

    Bioclimate conditions at Sun Moon Lake, one of Taiwan’s most popular tourist destinations, are presented. Existing tourism-related\\u000a climate is typically based on mean monthly conditions of air temperature and precipitation and excludes the thermal perception\\u000a of tourists. This study presents a relatively more detailed analysis of tourism climate by using a modified thermal comfort\\u000a range for both Taiwan and Western\\/Middle

  4. Open space values among Chinese students from Taiwan

    E-print Network

    Chang, Changyi David

    1973-01-01

    OPEN SPACE VALUES AMONG CHINESE STUDENTS FROM TAIWAN A Thesis by Changyi David Chang Approved as to style and content by: Head of Department Member Member December 1973 ABS TRACT Open Space Values Among Chinese Students Prom Taiwan... (December 1973) Changyi David Chang, B. S. , National Taiwan University Directed by: Dr. Joseph Sonnenfeld This study is concerned with establishing the values attributed to open space from a recreational point of view by Chinese students...

  5. Recent Advances on Probabilistic Seismic Hazard Analysis in Taiwan

    Microsoft Academic Search

    C. Lee; C. Cheng; P. Lin

    2002-01-01

    Before the occurrence of the September 21, 1999, Chi-Chi Taiwan earthquake (MW7.6), the results of probabilistic seismic hazard analysis (PSHA) from different agencies and different authors were totally underestimated earthquake hazard in Central Taiwan. The shortcoming of previous PSHA in Taiwan is due to lack of proper handling activity of fault sources. Other impacts on PSHA after the Chi-Chi earthquake

  6. Molluscan fauna of Gueishan Island, Taiwan.

    PubMed

    Huang, Chih-Wei; Hsiung, Ta-Wei; Lin, Si-Min; Wu, Wen-Lung

    2013-01-01

    This dataset records the occurrence and inventory of molluscan fauna on Gueishan Island, the only active volcanic island in Taiwan, based on the literature survey and field investigation conducted between 2011 and 2012. The literature review involved seven studies published from 1934 to 2003, which collectively reported 112 species from 61 genera and 37 families of Mollusca on Gueishan Island. Through our field investigation, we identified 34 species from 28 genera and 23 families. Fourteen of these species were new records on Gueishan Island: Liolophura japonica, Lottia luchuana, Nerita costata, Nerita rumphii, Diplommatina suganikeiensis, Littoraria undulata, Solenomphala taiwanensis, Assiminea sp., Siphonaria laciniosa, Laevapex nipponica, Carychium hachijoensis, Succinea erythrophana, Zaptyx crassilamellata, and Allopeas pyrgula. In Total, there are 126 species from 71 genera and 45 families of Mollusca on Gueishan Island. These data have been published through GBIF [http://taibif.org.tw/ipt/resource.do?r=gueishan_island] and integrated into the Taiwan Malacofauna Database (http://shell.sinica.edu.tw/). PMID:23717182

  7. Design of Synchrotron Light Source in Taiwan

    NASA Astrophysics Data System (ADS)

    Kuo, C. C.; Chang, H. P.; Chou, P. J.; Luo, G. H.; Tsai, H. J.; Wang, M. H.; Chen, C. T.

    2007-01-01

    An intermediate energy synchrotron light source has been proposed. The goal is to construct a high performance light source in complementary to the existing 1.5 GeV synchrotron ring in Taiwan to boost the research capabilities. A 3 GeV machine with 518.4 m and 24-cell DBA lattice structure is considered and other options are also investigated. We report the 24-cell design considerations and its performances.

  8. Reconstructing Taiwan from the Cretaceous to present

    NASA Astrophysics Data System (ADS)

    von Hagke, C.; Philippon, M. M.; Avouac, J. P.

    2014-12-01

    We present a revised analysis of the plate tectonic framework of Taiwan since the Late Cretaceous, a time when subduction polarity was still opposite to what is observed at present (westward subduction of the Pacific Plate, as opposed to eastward subduction of Eurasia at present). We place our reconstructions within a global plate tectonic frame, and discuss the consequences of subduction zone reversal for the evolving passive margin. Based on existing models (Seton et al. 2012, Zahirovic et al. 2014), we show that clockwise rotation of the Philippine Sea Plate results in complete subduction of the Proto South China Sea. This eastward-directed subduction results in a propagating subduction polarity flip along the Chinese passive margin, changing from westward-directed Pacific subduction, to present day eastward Eurasian subduction. This is independent of northward subduction of the Philippine Sea Plate underneath Eurasia in the Taiwan area. Our reconstructions yield a new model for the collisional history of Taiwan, which reconciles the pre-collisional architecture with the metamorphic conditions of the Cenozoic orogeny, and makes predictions about timing of peak-pressures, as well as the timing of collision and present subduction zone reversal. We argue that Taiwan is the result of a first collision between the Luzon Arc and a continental fragment, which rifted off the passive margin either during opening of the Proto South China Sea, or later, during opening of the South China Sea, and a second collision with the Chinese Passive margin proper. We constrain timing of collision to 6.5 and 3.5 Ma, respectively. An interesting implication of our model is that the first collision does not necessarily propagate along strike, which may explain facies distributions in the foreland, as well as uniform metamorphic conditions in the Tananao Complex. The orogeny potentially propagates from north to south only since its recent collision at 3.5 Ma.

  9. Preliminary Study on Rock Avalanche in Taiwan

    NASA Astrophysics Data System (ADS)

    Shen, Y.; Wen, Y.; Hsieh, M.

    2012-12-01

    Rock avalanche is a kind of rapid (average >100 km/h) granule flow caused by crushing and pulverization of rock materials during catastrophic rock slide. Literature researches show that rock avalanches typically occur on steep, high-relief slopes underlain by hard rocks, and have volumes >10,000,000 m3. Rock avalanches also are characterized by long runout distances, which are 5 to 10 times the total fall heights. Some cases can run up the opposing valley wall. Rock avalanches generally occurred in active mountains (e.g., New Zealand) and were triggered by earthquakes or rainfall (snowmelt), but with exceptions. There were few rock avalanches in historical time in Taiwan. This could reflect: (1) intrinsic instability of hillslopes due to weak rock, frequent earthquakes/heavy rains, which resulted in landslides of high frequency/low magnitude; (2) limited runout space along deeply incised river-valley systems, which increased the likelihood of rock-slope failures to transform to debris flows. However, there are ancient rock-avalanche records, found at Shou-shan coast (SW Taiwan) and Shin-she, Chang-pin, Tu-lan along Hua-tung coast (E Taiwan), which is likely to have undergone coseismic uplift. These places, with steep slopes, underlain by hard rock, and free for materials to run, are most prone to rock avalanches in the future.

  10. The Status of the Taiwan Photon Source

    NASA Astrophysics Data System (ADS)

    Kuo, C. C.; Wang, J. P.; Chen, J. R.; Hsu, K. T.; Wang, C.; Yang, Y. W.; Luo, G. H.; Chen, C. T.; Liang, K. S.

    2010-06-01

    NSRRC has been operating a 1.5 GeV synchrotron light source, the Taiwan Light Source (TLS), for over 15 years and has established a large user community. For the future development of synchrotron radiation research in Taiwan, a feasibility study report to construct a 3.0 GeV low-emittance storage ring, the Taiwan Photon Source (TPS), was issued in July 2005. The government approval of the TPS project was obtained in December 2007 and the machine will be built at current site of NSRRC. The project has progressed steadily since and reached several major milestones now: the architect firm has finished the site plan and civil design, the accelerator design has been fixed, and purchase of long-lead items begins its course. The TPS storage ring has a circumference of 518.4 meters with a concentric booster of 496.8 meters. The storage ring adopted a 24-cell double-bend structure with a 1.6 nm-rad natural emittance. There are six 12-m and eighteen 7-m ID straights. For user research, five new beamlines have been selected for the Phase I operations: the micro protein crystallography, the materials sub-micron diffraction, the inelastic soft x-ray scattering, the coherent x-ray scattering, and the nano probe beamlines. The civil construction is getting ready to start. The commissioning of the TPS storage ring is targeted for 2013.

  11. Predictors of Burnout Among Nurses in Taiwan.

    PubMed

    Lee, Huan-Fang; Yen, Miaofen; Fetzer, Susan; Chien, Tsair Wei

    2015-08-01

    Nurse burnout is a crucial issue for health care professionals and impacts nurse turnover and nursing shortages. Individual and situational factors are related to nurse burnout with predictors of burnout differing among cultures and health care systems. The predictors of nurse burnout in Asia, particularly Taiwan, are unknown. The purpose of this study was to investigate the predictors of burnout among a national sample of nurses in Taiwan. A secondary data analysis of a nationwide database investigated the predictors of burnout among 1,846 nurses in Taiwan. Hierarchical regression analysis determined the relationship between predictors and burnout. Predictors of Taiwanese nurse burnout were age, physical/psychological symptoms, job satisfaction, work engagement, and work environment. The most significant predictors were physical/psychological symptoms and work engagement. The variables explained 35, 39, and 18 % of the emotional exhaustion, personal accomplishment, and depersonalization variance for 54 % of the total variance of burnout. Individual characteristics and nurse self-awareness, especially work, engagement can impact Taiwanese nurses' burnout. Nurse burnout predictors provide administrators with information to develop strategies including education programs and support services to reduce nurse burnout. PMID:25536942

  12. Integrated structural model for active arc-continental collision from southern Taiwan to central Taiwan inferred from seismogenic views

    NASA Astrophysics Data System (ADS)

    Nagai, S.; Wang, Y.; Ma, K.; Wu, Y.; Huang, H.

    2010-12-01

    The Taiwan Island is located in ongoing arc-continent collision zone between the Philippine Sea Plate and the Eurasian Plate. Numerous geophysical and geological studies have explained the tectonic processes and developed various models. There are two end-member models for Taiwan collision; Thin-skinned model [e.g. Suppe, 1987] and Lithospheric collision model [Wu et al., 1997]. One of most important issue is that collision in Taiwan involves and contributes deformation to what depth. We have presented on this point in central Taiwan through seismological views, including both observed facts and results of tomographic inversion [Nagai et al., 2010 in WPGM 2010]. We have concluded that orogenic process should involve and contribute to depth of 30 km at least in central Taiwan, and suggested ’Upper Crustal Stacking Model’. We have indicated that existence of low-velocity blocks under Central Mountain Range (CMR) is one of the most important factors to understand Taiwan arc-continental collision process. We extend this idea to southern and northern Taiwan and to connect with balanced cross-sections proposed in Ustaszewski et al. [2010]. In this talk, we focused on the structural variation from southern Taiwan to central Taiwan. We have been performing the local double-difference tomography [Zhang and Thurber, 2003] in southern and northern Taiwan using the Central Weather Bureau Seismic Network with temporary array observations. These results in seismic tomography show variation of seismic velocity under the CMR like in central Taiwan. Low-velocity anomalies are also detected. Although it should be checked carefully, velocity blocks segmented some parts and seismic activities seem to be located on their boundaries. The Jiaxian earthquake on 4th Mar, 2010 occurred on one of these segmentation boundaries. The tectonic process in Taiwan arc-continental collision consists of different-scale structures, which means finer resolution structures may be nested with the larger ones. The thin-skinned model is the first step and the finest structural model in collision process, dominated in south and western Taiwan. After thin-skinned process, processes in the UCS model deformed and pushed up these finest structures in thin-skinned model, and then eroded on the CMR. Although this idea for integrated model for Taiwan orogeny should be verified more through geological and geophysical views both, it is pretty simple and can explain many features among various models between two end-members. Previous presentation for central Taiwan Nagai et al., (2010), Integrated structural model for arc-continent collision in Taiwan inferred from seismic velocity, relocated seismicity, and attenuation inverted by seismic tomography, Eos Trans. AGU, 91(26), West. Pac. Geophys. Meet. Suppl., Abstract T22A-06.

  13. Quantifying bid-ask spreads in the Chinese stock market using limit-order book data: Intraday pattern, probability distribution, long memory, and multifractal nature

    Microsoft Academic Search

    Gao-Feng Gu; Wei Chen; Wei-Xing Zhou

    2006-01-01

    The statistical properties of the bid-ask spread of a frequently traded Chinese stock listed on the Shenzhen Stock Exchange are investigated using the limit-order book data. Three different definitions of spread are considered based on the time right before transactions, the time whenever the highest buying price or the lowest selling price changes, and a fixed time interval. The results

  14. Stocking Fingerling Largemouth Bass to Alter Genetic Composition: Efficacy and Efficiency of Three Stocking Rates

    Microsoft Academic Search

    David L. Buckmeier; J. Warren Schlechte; Robert K. Betsill

    2003-01-01

    The Texas Parks and Wildlife Department (TPWD) has stocked Florida largemouth bass Micropterus salmoides floridanus to alter the genetic composition of largemouth bass populations since 1972. Because most stocked fingerling largemouth bass remain within 1 km of their stocking site, TPWD's current stocking procedures and standard stocking rates of 10–41 fingerlings\\/surface ha typically yield 10,000–100,000 fish\\/stocked site (i.e., 2 km

  15. An empirical investigation of the influence of safety climate on organizational citizenship behavior in Taiwan's facilities.

    PubMed

    Lee, Tzai-Zang; Wu, Chien-Hsing; Hong, Chih-Wei

    2007-01-01

    Although the social exchange relationships between employers and employees are increasingly important to the performance of safety management systems, the psychological effects of work attitudes on this relationship have been less studied. Using a sample of first-line operators and their supervisors from 188 facilities in Taiwan which had Occupational Health and Safety Assessment Series 18000 (OHSAS 18000) certification, the current research conducted an empirical investigation of the influence of safety climate on organizational citizenship behavior (OCB). Work attitude was used to disclose the psychological effect. Research results indicated that (a) safety climate was a significant predicator of OCB, (b) the psychological effect significantly influenced social exchange relationships, and (c) job satisfaction showed a stronger mediating influence than organizational commitment due to the frequent top management turnover. Discussions and implications are also addressed. PMID:17888235

  16. Seroepidemiology of Hantaan virus infection in Taiwan.

    PubMed

    Kao, C L; Chen, C J; Yen, T S; Lien, J C; Yang, C S

    1996-12-01

    In order to investigate the infection rate of Hantaan virus in Taiwan, a total of 6,536 human serum samples were collected from residents, selected by stratified random sampling, from 19 townships covering four different ethnic groups: Aborigines, Fukien Taiwanese, Hakka Taiwanese, and Mainland Chinese. Serum samples were screened for Hantaan virus antibodies by indirect immunofluorescence. The prototype Hantaan virus (76/118)-infected Vero E6 cells were used as the viral antigen for the antibody detection. Among 6,536 human serum samples, 403 (6.2%) samples had Hantaan virus antibodies. The seropositive rates for males and females were 6.1% and 6.2%, respectively. A higher seropositive rate was found among Aborigines on the Orchid Islets (11.5%) and Fukien Taiwanese on the Penghu Islets (11.6%), while the lowest rate was observed among Hakka Taiwanese in the south of Taiwan (2.5%). In comparing with different ethnic groups, the highest prevalence was found among Fukien Taiwanese (8.1%) and the lowest among Mainland Chinese (4.9%). Among the different geographical areas, the highest positive rate was found in western Taiwan (7.1%) and the lowest in southern Taiwan (5.4%). Hantaan virus antibodies were also detected in 22 of 548 (4.0%) rat serum samples. The highest seropositive rate was found in rat sera collected from the Orchid Islets (21.4%). None of the rat sera collected from Hsinchu, Miaoli, Changhua, Nantu, Yunlin, Chiayi, Tainan, and Penghu Counties were positive. Hantaan virus antibodies were found in rats: Rattus rattus (20%), Bandicota indica (9.0%), Rattus norvegicus (8.3%), Bandicota nemorivaga (6.3%), Rattus losea (4.2%), and Apodemus agrarius (1.6%). Hantaan virus antibodies were not detected in rat sera collected from species of Rattus coxinga, Rattus culturatus, Mus musculus, Mus caroli, Suncus murinus, and Apodemus semotus. The results show that the Hantaan or Hantaan-related virus exists and is distributed widely in both human and rats in Taiwan. PMID:8950687

  17. DNA Barcoding of Shark Meats Identify Species Composition and CITES-Listed Species from the Markets in Taiwan

    PubMed Central

    Liu, Shang-Yin Vanson; Chan, Chia-Ling Carynn; Lin, Oceana; Hu, Chieh-Shen; Chen, Chaolun Allen

    2013-01-01

    Background An increasing awareness of the vulnerability of sharks to exploitation by shark finning has contributed to a growing concern about an unsustainable shark fishery. Taiwan’s fleet has the 4th largest shark catch in the world, accounting for almost 6% of the global figures. Revealing the diversity of sharks consumed by Taiwanese is important in designing conservation plans. However, fins make up less than 5% of the total body weight of a shark, and their bodies are sold as filets in the market, making it difficult or impossible to identify species using morphological traits. Methods In the present study, we adopted a DNA barcoding technique using a 391-bp fragment of the mitochondrial cytochrome oxidase I (COI) gene to examine the diversity of shark filets and fins collected from markets and restaurants island-wide in Taiwan. Results Amongst the 548 tissue samples collected and sequenced, 20 major clusters were apparent by phylogenetic analyses, each of them containing individuals belonging to the same species (most with more than 95% bootstrap values), corresponding to 20 species of sharks. Additionally, Alopias pelagicus, Carcharhinus falciformis, Isurus oxyrinchus, and Prionace glauca consisted of 80% of the samples we collected, indicating that these species might be heavily consumed in Taiwan. Approximately 5% of the tissue samples used in this study were identified as species listed in CITES Appendix II, including two species of Sphyrna, C. longimanus and Carcharodon carcharias. Conclusion DNA barcoding provides an alternative method for understanding shark species composition when species-specific data is unavailable. Considering the global population decline, stock assessments of Appendix II species and highly consumed species are needed to accomplish the ultimate goal of shark conservation. PMID:24260209

  18. Sector analysis for a FTSE portfolio of stocks

    NASA Astrophysics Data System (ADS)

    Coelho, R.; Hutzler, S.; Repetowicz, P.; Richmond, P.

    2007-01-01

    Using a portfolio of stocks from the London Stock Exchange FTSE100 index (FTSE), we study both the time dependence of their correlations and the normalized tree length of the associated minimal spanning tree (MST). The first four moments of the distribution of correlations and lengths of the tree are examined in detail and differences in behavior noted. For different economic groups and industries, clustering is evident. However, comparing the classification used prior to 2006 with that introduced in January 2006 it is clear that the new classification, apart from one or two notable exceptions, is much more compatible with the clustering obtained by the MST analysis. We finally compare the MST for real data with that obtained for a synthetic random market. The latter tree would seem more like the structure found by Coronnello et al. for trees based on high-frequency data.

  19. Sector analysis for a FTSE portfolio of stocks

    E-print Network

    Coelho, R; Repetowicz, P; Richmond, P

    2006-01-01

    Using a portfolio of stocks from the London Stock Exchange FTSE100 index (FTSE), we study both the time dependence of their correlations and the normalized tree length of the associated minimal spanning tree (MST). The first four moments of the distribution of correlations and lengths of the tree are examined in detail and differences in behaviour noted. For different economic groups and industries, clustering is evident. However comparing the classification used prior to 2006 with that introduced in January 2006 it is clear that the new classification, apart from one or two notable exceptions, is much more compatible with the clustering obtained by the MST analysis. We finally compare the MST for real data with that obtained for a synthetic {\\it random market}. The latter tree would seem more like the structure found by Coronnello {\\it et al.} for trees based on high frequency data.

  20. The operating efficiency of international tourist hotels in Taiwan

    Microsoft Academic Search

    2001-01-01

    This study evaluates the operating efficiency of international tourist hotels in Taiwan. The actual operating data of 53 international tourist hotels in Taiwan are collected from 1996 to 1998. There are 6 output variables and 7 input variables in this study. By using the DEA technique, the efficiency of international tourist hotels is analyzed, and we can distinguish between efficient

  1. Average Crust Model and Moho Geometry beneath Taiwan

    Microsoft Academic Search

    H. Wang; H. Chen; L. Zhu

    2005-01-01

    We determine the lateral variation of Moho discontinuity, crust thickness, and Vp\\/Vs ratios in the vicinity of Taiwan by analyzing all the available broadband teleseismic data collected by BATS (Broadband Array in Taiwan for Seismology, 1998 to 2003) and CWB (Central Weather Bureau, 2002 to 2004). The depth variation of the Moho discontinuity beneath each station is mainly estimated from

  2. Landslide monitoring and assessment in taiwan using SPOT series satellites

    Microsoft Academic Search

    Long-Shin Liang; Kun-Shan Chen; Chin-Lun Wang; A. J. Chen; Wolfgang-Martin Boerner

    2005-01-01

    Taiwan Island poses very rough and steep terrain along the Central Range to east coast with only about 30% of plain area along the west coast. It suffers from strikes from typhoon and flush storms almost every year. For example, the Mindulle typhoon in July 2004 carried heavy rainfalls and raged viciously to the several counties in Middle Taiwan. The

  3. Typhoons Affecting Taiwan: Current Understanding and Future Challenges

    Microsoft Academic Search

    Chun-Chieh Wu; Ying-Hwa Kuo

    1999-01-01

    Of all the natural disasters occurring in Taiwan, tropical cyclones are the most serious. Over a 20-yr period, Taiwan was hit by an average of 3.7 typhoons per year. These storms can produce heavy rainfall and strong winds, leading to severe damage to agriculture and industry, and serious loss of human life. An outstanding example is Typhoon Herb, which made

  4. Modeling Energy Demand and Socioeconomic Development Of Taiwan

    Microsoft Academic Search

    Gwo-Hshiung Tzeng

    1989-01-01

    Taiwan lacks a natural energy endowment. Its energy demands have dramatically increased with the growth of the economy and standard of living during the past two decades. Based on the new socioeconomic development policy for the next two decades, the government of Taiwan has devoted special attention and effort to improving various social and environmental problems affecting the country's overall

  5. Crustal Shear Wave Anisotropy in the Taiwan Orogen

    Microsoft Academic Search

    R. Rau; C. Yang

    2002-01-01

    Crustal shear wave anisotropy is analyzed in seismograms from local earthquakes (1.5 < M < 4.5) recorded at 75 permanent network stations in Taiwan during the period between 1991 and 2000. We investigate the origin of Taiwan crustal anisotropy by analyzing splitting in recorded shear waves, which can be characterized by a fast polarization direction and a time delay between

  6. Higher Educational Institutions in Taiwan. Bulletin 1966, No. 18.

    ERIC Educational Resources Information Center

    Barendsen, Robert D.

    The institutional structure of higher education in Taiwan today is outlined and an up-to-date picture of the status of higher educational institutions on the island is presented. As of 1964-65, Taiwan had 55 recognized institutions of higher education comprised of 42 civilian colleges and 13 additional institutions operating under the auspices of…

  7. Notes on Grasses (Poaceae) for the Flora of Taiwan (II)

    Microsoft Academic Search

    Ming-Jer Jung; Robert J. Soreng; Chang-Sheng Kuoh

    2006-01-01

    Poa compressa L., P. pratensis L., and P. trivialis L. were recently naturalized in the central part of Taiwan. The existence of P. acroleuca Steud. in Taiwan was confirmed by examining the specimens deposited in HAST, NCKU, TNM, TNU, and TAI. We treated these four bluegrasses with corresponding descriptions, illustrations, and distribution maps.

  8. Small and Medium Enterprise for Women Entrepreneurs in Taiwan

    Microsoft Academic Search

    Saikou E. Sanyang; Wen-Chi Huang

    2008-01-01

    Women represent about 40% of the total labor force in Taiwan. The majority of women employment is concentrated in manufacturing and service sector such as commerce and social or personal community work. Small and medium enterprises in Taiwan accounted for 97.8% of the total enterprises and employed about 78% of the total work force. Small and medium enterprises have played

  9. Taiwan's Yacht Industry: A Tale of Two Entrepreneurial Firms

    Microsoft Academic Search

    Ho-Don Yan

    2008-01-01

    This paper studies the evolution of Taiwan's yacht industry in general, and in particular we focus on two entrepreneurial firms, the Horizon Yacht Company and the Jade Yacht Company. Our purposes are two-fold. First, most research studies on Taiwan's economic success are based on the neoclassical economic model, which uses a proportional input-output production function, and emphasizes aggregate data to

  10. Female Lung Cancer and Petrochemical Air Pollution in Taiwan

    Microsoft Academic Search

    Chun-Yuh Yang; Ming-Fen Cheng; Jeng-Fen Chiu; Shang-Shyue Tsai

    1999-01-01

    To investigate the relationship between petrochemical air pollution and female lung cancer, we conducted a matched case-control study among women who had died in Taiwan from 1990 through 1994. Data about all eligible female lung cancer deaths were obtained from the Bureau of Vital Statistics of the Taiwan Provincial Department of Health. The control group included women who died from

  11. The Construction of Taiwan's Educational Indicator Systems: Experiences and Implications

    ERIC Educational Resources Information Center

    Chien, Maw-Fa; Lee, Chi-Ming; Cheng, Yu-Ping

    2007-01-01

    This study was designed to illuminate the state of education in Taiwan by constructing Educational Indicator Systems. The study, sponsored by the National Science Council between 1998 and 2000, was the first comprehensive indicator project to cover all educational levels in Taiwan. Various research methods were used, including panel discussion,…

  12. Cybercrime & Cybercriminals: An Overview of the Taiwan Experience

    Microsoft Academic Search

    Chichao Lu; Wenyuan Jen; Weiping Chang; Shihchieh Chou

    2006-01-01

    This paper explores the increasing number of cybercrime cases in Taiwan and examines the demographic characteristics of those responsible for this criminal activity. The report is based upon data taken from the Criminal Investigation Bureau of Taiwan's cybercrime database over the interval of 1999 through 2004. The paper defines cybercrime, analyses cybercrime case statistics and examines profiles of cybercrime suspects'

  13. A Re-Examination of the Suicide Rates in Taiwan

    ERIC Educational Resources Information Center

    Chuang, Hwei-Lin; Huang, Wei-Chiao

    2007-01-01

    This paper examines the suicide rates of 23 cities and counties in Taiwan from 1983 to 2001. We found that a combination of economic and social variables can significantly account for the tremendous variations in suicide rates across Taiwan's cities and counties over the last two decades. The level of income per capita in a region appears as the…

  14. Characteristics and management of infectious industrial waste in Taiwan

    Microsoft Academic Search

    Mei-Chuan Huang; Jim Juimin Lin

    2008-01-01

    Infectious industrial waste management in Taiwan is based on the specific waste production unit. In other countries, management is based simply on whether the producer may lead to infectious disease. Thus, Taiwan has a more detailed classification of infectious waste. The advantage of this classification is that it is easy to identify the sources, while the disadvantage lies in the

  15. Comparison of potential water supply and demand in Taiwan

    Microsoft Academic Search

    Chien-Tsun Lin; Hsin-Hsiung Chen; Tomonori Kume; Chyi-Rong Chiou

    2010-01-01

    The authors estimated the potential water supply in Taiwan based on hydrologic and water resource data sets pertaining to 233 rainfall stations, 145 stage stations and 109 reservoirs. The comparison between potential water supply estimates and predicted water demand indicated a slight water shortage, even though Taiwan normally receives a large amount of rainfall. This predicted water shortage likely occurred

  16. Do Earthquakes Shake Stock Markets?

    PubMed Central

    2015-01-01

    This paper examines how major earthquakes affected the returns and volatility of aggregate stock market indices in thirty-five financial markets over the last twenty years. Results show that global financial markets are resilient to shocks caused by earthquakes even if these are domestic. Our analysis reveals that, in a few instances, some macroeconomic variables and earthquake characteristics (gross domestic product per capita, trade openness, bilateral trade flows, earthquake magnitude, a tsunami indicator, distance to the epicenter, and number of fatalities) mediate the impact of earthquakes on stock market returns, resulting in a zero net effect. However, the influence of these variables is market-specific, indicating no systematic pattern across global capital markets. Results also demonstrate that stock market volatility is unaffected by earthquakes, except for Japan. PMID:26197482

  17. The exposure of shipping firms’ stock returns to financial risks and oil prices: a global perspective

    Microsoft Academic Search

    Ahmed A. El-Masry; Mojisola Olugbode; John Pointon

    2010-01-01

    Shipping is an industry that is highly geared towards international trade and therefore, would seem to be highly susceptible to fluctuations in macroeconomic factors. This article investigates the impact of exchange rates, interest rates and oil prices on stock returns of 143 shipping companies from 16 countries. We also investigate the factors which determine the extent to which firm are

  18. A Stock Market Boom During a Financial Crisis? ADRs and capital outflows in Argentina

    Microsoft Academic Search

    Michael Melvin

    2002-01-01

    Beginning in late 2001, Argentina experienced a tumultuous economic and social crisis including the end of the decade-long peso peg to the dollar, drastic foreign exchange and capital controls, violent anti-government demonstrations, social unrest, and the largest debt default in history. Yet the Argentine stock market experienced a boom during the early period of the crisis. This is in contrast

  19. Information Technology and Screen-Based Securities Trading: Pricing the Stock and Pricing the Trade

    Microsoft Academic Search

    Eric K. Clemons; Bruce W. Weber

    1997-01-01

    Many major stock exchanges rely on their member firms to act as dealer intermediaries, risking their own capital to trade as dealers with investor customers. A confluence of forces will dramatically alter the role of these intermediaries and the strategies available to them. Information technology is increasing the diversity of trading strategies used by investors; these impose different costs and

  20. Election Polls, Free Trade, and the Stock Market: Evidence from the Canadian General Election

    Microsoft Academic Search

    James A. Brander

    1989-01-01

    This paper examines the relationship between the Toronto Stock Exchange (TSE) and election polls during the 1988 Canadian General Election campaign. Two hypotheses are investigated: first, did polls influence the TSE, and secondly, if so, did the nature of the influence suggest that investors were reacting to expectations concerning the effect of the Canada-U.S. Free Trade Agreement (FTA)? I find

  1. bush i police soviet percent mecham stock dukakis think shot gorbachev year keating market

    E-print Network

    Blei, David M.

    dont man president rate senators index jackson people arrested summit last lincoln stocks president like two reagan report deconcini trading democratic get people bush prices meeting million convention nixon exchange primary go car meeting annual wine new sen things authorities world average bishops

  2. The Visualization of Large Database in Stock Market Li Lin, Longbing Cao, Chengqi Zhang

    E-print Network

    Cao, Longbing

    trading system, there are high-density data, which is a typical data streams. And the trading rules to do analysis and trading. So the problem is how to show the graph of the large data and multiple and distributed in high-density, for instance, more than 20,000 records in a day in Australian Stock Exchange

  3. Mathematical Model for Optimizing the Composition of an Investment Portfolio for the Mexican Stock Market

    Microsoft Academic Search

    José Crispín Zavala-Díaz; Joaquín Pérez-Ortega; Rodolfo A. Pazos Rangel; Laura Cruz Reyes

    2009-01-01

    A linear programming mathematical model is presented, which permits to compose an investment portfolio that achieves the maximal return at minimal risk from public information published on the Web page of the Mexican stock exchange (BMV). Each of the linear programming problems (return maximization and risk minimization) is solved individually, and their optimal values are compared against those of a

  4. Empirical properties of inter-cancellation durations in the Chinese stock market

    NASA Astrophysics Data System (ADS)

    Gu, Gao-Feng; Xiong, Xiong; Zhang, Wei; Zhang, Yong-Jie; Zhou, Wei-Xing

    2014-03-01

    Order cancellation process plays a crucial role in the dynamics of price formation in order-driven stock markets and is important in the construction and validation of computational finance models. Based on the order flow data of 23 liquid stocks traded on the Shenzhen Stock Exchange in 2003, we investigate the empirical statistical properties of inter-cancellation durations in units of events defined as the waiting times between two consecutive cancellations. The inter-cancellation durations for both buy and sell orders of all the stocks favor a q-exponential distribution when the maximum likelihood estimation method is adopted; In contrast, both cancelled buy orders of 9 stocks and cancelled sell orders of 4 stocks prefer Weibull distribution when the nonlinear least-square estimation is used. Applying detrended fluctuation analysis (DFA), centered detrending moving average (CDMA) and multifractal detrended fluctuation analysis (MF-DFA) methods, we unveil that the inter-cancellation duration time series process long memory and multifractal nature for both buy and sell cancellations of all the stocks. Our findings show that order cancellation processes exhibit long-range correlated bursty behaviors and are thus not Poissonian.

  5. A taxonomy of green supply chain management capability among electronics-related manufacturing firms in Taiwan.

    PubMed

    Shang, Kuo-Chung; Lu, Chin-Shan; Li, Shaorui

    2010-05-01

    This study investigated crucial green supply chain management (GSCM) capability dimensions and firm performance based on electronics-related manufacturing firms in Taiwan. On the basis of a factor analysis, six green supply chain management dimensions were identified: green manufacturing and packaging, environmental participation, green marketing, green suppliers, green stock, and green eco-design. According to their factor scores in the GSCM dimensions, a cluster analysis subsequently assigned responding firms into four groups, namely, the weak GSCM oriented group, the green marketing oriented group, the green supplier oriented group, and the green stock oriented group. Differences in firm performance and GSCM dimensions among groups were examined. Results indicated that the green marketing oriented group performed best. Based on the resource-based view (RBV), the capability of the green marketing oriented group was considered to be the deployment of a collection of resources that enables it to successfully compete against rivals. The importance of green marketing as a GSCM capability and strategic asset/critical resources for electronics-related manufacturing firms to obtain a competitive edge is therefore highlighted in this study. PMID:20181423

  6. ASSESSING PLANTING STOCK QUALITY Comprehensive assessments of planting stock

    E-print Network

    Standiford, Richard B.

    was aggressively managed, but was never unwieldy. To make workloads manageable and guarantee good data, nursery for cold storage, and to evaluate effects of traditional and proposed nursery cultural practices on field to evaluate planting stock quality and nursery practice. Field tests provide proof of the nursery's ability

  7. Instructions of the NTU Health Exam for Incoming Exchange Students at NTU Hospital

    E-print Network

    Wu, Yih-Min

    Instructions of the NTU Health Exam for Incoming Exchange Students at NTU Hospital (Health Exam Time) 1. (Monday ~ Wednesday)8:30~10:3013:30~15:00 2. 2 2 Please fill in the personal information Hospital (1 Chan-der Street, Taipei. Near MRT National Taiwan University Hospital Station) (Items

  8. Understanding knowledge sharing between IT professionals – an integration of social cognitive and social exchange theory

    Microsoft Academic Search

    Ming-Tien Tsai; Nai-Chang Cheng

    2011-01-01

    The research includes various constructs based on social exchange theory and social cognitive theory. This study mainly explored the relationships among organisational justice, trust, commitment and knowledge-sharing cognition and verified their mediating effects through two variables of trust and commitment. A survey utilising a questionnaire was used with 252 IT professionals from IT companies and departments in Taiwan. Structural equation

  9. Significant Seismic Anisotropy in the Shallow Unconsolidated Layer beneath the Southwestern Taiwan

    Microsoft Academic Search

    W. Liang; B. Kuo

    2003-01-01

    Taiwan is located on the convergent boundary zones between the Eurasian and the Philippine sea plates. Due to the collision between Taiwan and Luzon arc, the central Taiwan is undergoing remarkable crustal deformation and consequently results in disastrous earthquakes like the 1999 Chi-Chi, Taiwan Earthquake (Mw 7.6). In this study, we have analyzed the seismic shear wave splitting at a

  10. Performance assessment methodology and preliminary results for low-level radioactive waste disposal in Taiwan

    Microsoft Academic Search

    Bill Walter Arnold; Fu-lin Chang; Patrick D. Mattie; Robert G. Knowlton; W-S Chuang; L-M Chi; Hong-Nian Jow; Norman C. Tien; Clifford Kuofei Ho

    2006-01-01

    Sandia National Laboratories (SNL) and Taiwan's Institute for Nuclear Energy Research (INER) have teamed together to evaluate several candidate sites for Low-Level Radioactive Waste (LLW) disposal in Taiwan. Taiwan currently has three nuclear power plants, with another under construction. Taiwan also has a research reactor, as well as medical and industrial wastes to contend with. Eventually the reactors will be

  11. Will Taiwan's Economy be Marginalized by China? A Macroeconomic Policy Coordination Approach

    Microsoft Academic Search

    Kuo-Chun Yeh

    2009-01-01

    In Taiwan, economic marginalization has become a major concern that has resulted from the fast growing Chinese economy, imbalanced cross-strait economic and political relations, and a failure to participate in important international trade and financial organizations. Is a China-Taiwan policy cooperative mechanism the best choice for Taiwan's economic welfare? This paper is to measure Taiwan's economic marginalization by an international

  12. Dynamics relationship between stock prices and economic variables in Malaysia

    NASA Astrophysics Data System (ADS)

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

    2014-07-01

    Knowledge on linkages between stock prices and macroeconomic variables are essential in the formulation of effective monetary policy. This study investigates the relationship between stock prices in Malaysia (KLCI) with four selected macroeconomic variables, namely industrial production index (IPI), quasi money supply (MS2), real exchange rate (REXR) and 3-month Treasury bill (TRB). The variables used in this study are monthly data from 1996 to 2012. Vector error correction (VEC) model and Kalman filter (KF) technique are utilized to assess the impact of macroeconomic variables on the stock prices. The results from the cointegration test revealed that the stock prices and macroeconomic variables are cointegrated. Different from the constant estimate from the static VEC model, the KF estimates noticeably exhibit time-varying attributes over the entire sample period. The varying estimates of the impact coefficients should be better reflect the changing economic environment. Surprisingly, IPI is negatively related to the KLCI with the estimates of the impact slowly increase and become positive in recent years. TRB is found to be generally negatively related to the KLCI with the impact fluctuating along the constant estimate of the VEC model. The KF estimates for REXR and MS2 show a mixture of positive and negative impact on the KLCI. The coefficients of error correction term (ECT) are negative in majority of the sample period, signifying the stock prices responded to stabilize any short term deviation in the economic system. The findings from the KF model indicate that any implication that is based on the usual static model may lead to authorities implementing less appropriate policies.

  13. Multiple sclerosis amongst Chinese in Taiwan.

    PubMed

    Hung, T P; Landsborough, D; Hsi, M S

    1976-04-01

    Twenty-five cases of multiple sclerosis (MS), including 2 autopsy cases, collected during the past 20 years from amongst the Chinese of Taiwan, are reported. These cases fulfilled all the clinical diagnostic criteria of MS. The following observations were made: (1) Multiple sclerosis does exist among Chinese in Taiwan. It is uncommon, but is by no means a very rare disease. The prevalence rate in northern Taiwan near Taipei is estimated as 0.8/100.000 population. (2) Female preponderence was conspicuous (F:M = 3.2.:1) in our MS cases as well as in other demyelinating diseases. (3) On the whole, the onset of the disease was earlier in female patients, and those who had their initial symptoms before the age of 20 years were all females. (4) The optic nerve was most frequently involved at the onset, and it was involved in the majority of patients during the whole clinical course. (5) Involvement of the optic nerve and spinal cord, with or without the brain stem, was the commonest form of our MS cases, especially among female patients. (6) More malignant forms of MS, with acute onset and rapid clinical course leading to severe incapacity or fatality, were more common among female patients. (7) Painful tonic spasms were relatively frequently encountered, and they were usually seen in patients with severe spinal cord involvement. (8) Marked elevation of the CSF total protein and of leukocytes was relatively frequent during severe relapses in patients with spinal cord lesions. (9) Severe and extensive demyelinating lesions, both old and recent, in the optic nerve and spinal cord were seen in 2 autopsy cases. The relationship between MS and NMO in Oriental patients is briefly discussed. (10) It seems likely that cases of MS which are atypical as compared with Western MS are more frequently seen in Oriental countries, and perhaps also in tropical regions where MS is known to be rare. PMID:1262905

  14. Arbitrage and Volatility in Chinese Stock's Markets

    NASA Astrophysics Data System (ADS)

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

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

  15. STOCK GIFT SAMPLE LETTER Your Broker's Name

    E-print Network

    Gering, Jon C.

    STOCK GIFT SAMPLE LETTER (Date) Your Broker's Name Brokerage Firm's Name Brokerage Firm's Address Dear (Broker): I, (donor's name), authorize you to transfer ____(number of shares) shares of __________________ (name and ticker of stock) from my account, _____________________(brokerage account number). Please

  16. Essays on macroeconomic risks and stock prices

    E-print Network

    Duarte, Fernando Manuel

    2011-01-01

    In this thesis, I study the relationship between macroeconomic risks and asset prices. In the first chapter, I establish that inflation risk is priced in the cross-section of stock returns: stocks that have low returns ...

  17. Essays on predictability of stock returns

    E-print Network

    Rytchkov, Oleg

    2007-01-01

    This thesis consists of three chapters exploring predictability of stock returns. In the first chapter, I suggest a new approach to analysis of stock return predictability. Instead of relying on predictive regressions, I ...

  18. Forecasting Stock Price by SVMs Regression

    Microsoft Academic Search

    Yukun Bao; Yansheng Lu; Jinlong Zhang

    2004-01-01

    \\u000a Forecasting stock price is one of the fascinating issues of stock market research. Accurately forecasting stock price, which\\u000a forms the basis for the decision making of financial investment, is probably the biggest challenge for capital investment\\u000a industry, which leads it a widely researched area. Time series forecasting and neural network are once commonly used for prediction\\u000a on stock price. This

  19. Does trade matter for stock market integration?

    Microsoft Academic Search

    Bakri Abdul Karim; M. Shabri Abd. Majid

    2010-01-01

    Purpose – The purpose of this paper is to re-examine the stock market integration and short-run dynamic interactions between the Malaysian stock market and the stock markets of its major trading partners (the USA, Japan, Singapore, China and Thailand). Design\\/methodology\\/approach – Weekly stock indices spanning from January 1992 to May 2008 is analysed using autoregressive distributed lag (ARDL) bound testing

  20. Stocking rate effects on intensive-early stocked Flint Hills bluestem range

    E-print Network

    Owensby, Clenton E.

    Stocking rate effects on intensive-early stocked Flint Hills bluestem range CLENTON E. OWENSBY, ROBERT COCHRAN, AND ED F. SMITH Stocking rate effects on intensive-early stocked Kansas Flint Hills range- lands is limited to the first 2 1/ 2 months of the growing season in the Kansas Flint Hills. Grazing

  1. Managers' Trading around Stock Repurchases

    Microsoft Academic Search

    D Scott Lee; Wayne H Mikkelson; M Megan Partch

    1992-01-01

    The authors analyze personal open market trades by managers around stock repurchases by tender offer. With the exception of Dutch auction offers, managers trade their firm's shares prior to repurchase announcements as though repurchases convey favorable inside information to outsiders. Prior to fixed price repurchase offers that do not follow takeover-related events, managers increase their buying and reduce their selling

  2. BUGS in Bayesian stock assessments

    Microsoft Academic Search

    Renate Meyer; Russell B. Millar

    1999-01-01

    This paper illustrates the ease with which Bayesian nonlinear state-space models can now be usedfor practical fisheries stock assessment. Sampling from the joint posterior density is accomplishedusing Gibbs sampling via BUGS, a freely available software package. By taking advantage of themodel representation as a directed acyclic graph, BUGS automates the hitherto tedious calculationof the full conditional posterior distributions. Moreover, the

  3. Stock Markets, Banks, and Economic Growth

    Microsoft Academic Search

    Ross Levine; Sara Zervos

    1998-01-01

    Do well-functioning stock markets and banks promote long-run economic growth? This paper shows that stock market liquidity and banking development both positively predict growth, capital accumulation, and productivity improvements when entered together in regressions, even after controlling for economic and political factors. The results are consistent with the views that financial markets provide important services for growth and that stock

  4. Potential collapse of North Sea cod stocks

    Microsoft Academic Search

    R. M. Cook; A. Sinclair; G. Stefánsson

    1997-01-01

    In common with many fish stocks in the North Sea, cod are heavily exploited with as much as 60% of the fishable stock being removed annually1. The International Council for the Exploration of the Sea (ICES), which advises fishery managers on the state of fish stocks in the northeast Atlantic, has recommended that exploitation rates be reduced considerably and immediately,

  5. INSTITUTIONAL INVESTORS AND STOCK MARKET VOLATILITY*

    E-print Network

    Stanley, H. Eugene

    stock. Since his desired trading volume is then a significant proportion of daily turnover, heINSTITUTIONAL INVESTORS AND STOCK MARKET VOLATILITY* XAVIER GABAIX PARAMESWARAN GOPIKRISHNAN VASILIKI PLEROU H. EUGENE STANLEY We present a theory of excess stock market volatility, in which market

  6. AND LONG-RUN STOCK MARKET PERFORMANCE

    Microsoft Academic Search

    Dennis Coates; Bonnie Wilsony

    This paper provides evidence that interest group activity is negatively related to aggregate stock market performance. In particular, the flndings imply that a one percent increase in the number of interest groups in a country is associated with a reduction in average annual stock market returns of roughly 2-5%, and a reduction in the volatility of annual stock returns of

  7. Industry information uncertainty and stock return comovement

    Microsoft Academic Search

    Ting Luo; Wenjuan Xie

    2012-01-01

    This study investigates the association between industry information uncertainty and stock return comovement within industries. We test two predictions on industry comovement given correlated overweight among investors on past industry returns when there is greater industry-level uncertainty: (1) we find that stocks in high-uncertainty industries are more likely to move with other stocks in the same industry; (2) we find

  8. The Stock Markets as an Ineffective Sampler

    Microsoft Academic Search

    Gianluca Antonelli; Stefano Chiaverini

    2005-01-01

    The ability to forecast the trend of the stock markets is of obvious importance. A lot of effort has been devoted at modelling the stock markets as deterministic or stochastic dynamic systems. In this paper the stock markets are view as a sampler for the continuous-time price dynamics and its effectiveness will be discussed. It will be shown that data

  9. Scaling impacts on environmental controls and spatial heterogeneity of soil organic carbon stocks

    NASA Astrophysics Data System (ADS)

    Mishra, U.; Riley, W. J.

    2015-01-01

    The spatial heterogeneity of land surfaces affects energy, moisture, and greenhouse gas exchanges with the atmosphere. However, representing heterogeneity of terrestrial hydrological and biogeochemical processes in earth system models (ESMs) remains a critical scientific challenge. We report the impact of spatial scaling on environmental controls, spatial structure, and statistical properties of soil organic carbon (SOC) stocks across the US state of Alaska. We used soil profile observations and environmental factors such as topography, climate, land cover types, and surficial geology to predict the SOC stocks at a 50 m spatial scale. These spatially heterogeneous estimates provide a dataset with reasonable fidelity to the observations at a sufficiently high resolution to examine the environmental controls on the spatial structure of SOC stocks. We upscaled both the predicted SOC stocks and environmental variables from finer to coarser spatial scales (s = 100, 200, 500 m, 1, 2, 5, 10 km) and generated various statistical properties of SOC stock estimates. We found different environmental factors to be statistically significant predictors at different spatial scales. Only elevation, temperature, potential evapotranspiration, and scrub land cover types were significant predictors at all scales. The strengths of control (the median value of geographically weighted regression coefficients) of these four environmental variables on SOC stocks decreased with increasing scale and were accurately represented using mathematical functions (R2 = 0.83-0.97). The spatial structure of SOC stocks across Alaska changed with spatial scale. Although the variance (sill) and unstructured variability (nugget) of the calculated variograms of SOC stocks decreased exponentially with scale, the correlation length (range) remained relatively constant across scale. The variance of predicted SOC stocks decreased with spatial scale over the range of 50 to ~ 500 m, and remained constant beyond this scale. The fitted exponential function accounted for 98% of variability in the variance of SOC stocks. We found moderately-accurate linear relationships between mean and higher-order moments of predicted SOC stocks (R2 ~ 0.55-0.63). Current ESMs operate at coarse spatial scales (50-100 km), and are therefore unable to represent environmental controllers and spatial heterogeneity of high-latitude SOC stocks consistent with observations. We conclude that improved understanding of the scaling behavior of environmental controls and statistical properties of SOC stocks can improve ESM land model benchmarking and perhaps allow representation of spatial heterogeneity of biogeochemistry at scales finer than those currently resolved by ESMs.

  10. Molluscan fauna of Gueishan Island, Taiwan

    PubMed Central

    Huang, Chih-Wei; Hsiung, Ta-Wei; Lin, Si-Min; Wu, Wen-Lung

    2013-01-01

    Abstract This dataset records the occurrence and inventory of molluscan fauna on Gueishan Island, the only active volcanic island in Taiwan, based on the literature survey and field investigation conducted between 2011 and 2012. The literature review involved seven studies published from 1934 to 2003, which collectively reported 112 species from 61 genera and 37 families of Mollusca on Gueishan Island. Through our field investigation, we identified 34 species from 28 genera and 23 families. Fourteen of these species were new records on Gueishan Island: Liolophura japonica, Lottia luchuana, Nerita costata, Nerita rumphii, Diplommatina suganikeiensis, Littoraria undulata, Solenomphala taiwanensis, Assiminea sp., Siphonaria laciniosa, Laevapex nipponica, Carychium hachijoensis, Succinea erythrophana, Zaptyx crassilamellata, and Allopeas pyrgula. In Total, there are 126 species from 71 genera and 45 families of Mollusca on Gueishan Island. These data have been published through GBIF [http://taibif.org.tw/ipt/resource.do?r=gueishan_island] and integrated into the Taiwan Malacofauna Database (http://shell.sinica.edu.tw/). PMID:23717182

  11. Flower drinking and masculinity in Taiwan.

    PubMed

    Bedford, Olwen; Hwang, Shu-Ling

    2011-01-01

    This study explores the role of the hostess club culture in the creation and maintenance of masculinity in Taiwan. The article focuses on flower drinking (the consumption of alcohol in bars, often integrated with prostitution), which is a common practice in Taiwan. Data were obtained from 58 in-depth interviews with men from a variety of occupations and social backgrounds (mean age = 38.50, SD = 11.00) and 73 questionnaires administered to soldiers (mean age = 21.00, SD = 1.10). Findings indicated that demonstration of skill at flower drinking and facility with the related social etiquette are important channels for male bonding that were central to the mid- to upper-class participants' professional development. Flower drinking also provided a method of discriminating men from other men through their choices of why and where to go and how to behave while there. Specific ways that Taiwanese masculinity differs from Western and from Japanese masculinity, and support for the continuing relevance of the traditional Confucian ideal of masculinity, wen-wu, are discussed. PMID:19763998

  12. Fetal Exposure to Environmental Neurotoxins in Taiwan

    PubMed Central

    Jiang, Chuen-Bin; Hsi, Hsing-Cheng; Fan, Chun-Hua; Chien, Ling-Chu

    2014-01-01

    Mercury (Hg), lead (Pb), cadmium (Cd), and arsenic (As) are recognized neurotoxins in children that particularly affect neurodevelopment and intellectual performance. Based on the hypothesis that the fetal basis of adult disease is fetal toxic exposure that results in adverse outcomes in adulthood, we explored the concentrations of key neurotoxins (i.e., Hg, Pb, Cd, and As) in meconium to identify the risk factors associated with these concentrations. From January 2007 to December 2009, 545 mother-infant pairs were recruited. The geometric mean concentrations of Pb and As in the meconium of babies of foreign-born mothers (22.9 and 38.1 µg/kg dry weight, respectively) were significantly greater than those of babies of Taiwan-born mothers (17.5 and 33.0 µg/kg dry weight, respectively). Maternal age (?30 y), maternal education, use of traditional Chinese herbs during pregnancy, and fish cutlet consumption (?3 meals/wk) were risk factors associated with concentrations of key prenatal neurotoxins. The Taiwan government should focus more attention on providing intervention programs for immigrant mothers to help protect the health of unborn babies. Further investigation on how multiple neurotoxins influence prenatal neurodevelopment is warranted. PMID:25299345

  13. Seismic Structures of the Kuroshio Current off eastern Taiwan

    NASA Astrophysics Data System (ADS)

    Tsai, C.; Yeh, Y.; Hsu, S.; Ku, C.

    2009-12-01

    Kuroshio current is originated from North Equatorial Current that flows in the east of Taiwan then extends to southeast along coast of Japan. The high speed (~100cm/s) and high salinity (> 35 ‰) water of the Kuroshio current partially intrudes the Luzon Strait that flows into South China Sea then merged with the main flow around east of il-Lan, Taiwan annually. The seismic fine structure of Kuroshio current off Japan shows that the existence of strong linear reflections could be affected down to 1.5 TWT (~1,125 meters). However, due to only few profiles were analyzed and lack of comparison of physical oceanographic measurements (e.g. CTD), the characteristics of Kuroshio current is still unclear. In this study, we present all available multichannel seismic data east of Taiwan (e.g. beginning of Kuroshio current) including R/V Maurice Ewing collected in year 1995 and latest collected data by R/V Marcus G. Langseth this year. The result shows two branches of Kuroshio current east of Taiwan. One is close to east coast of Taiwan. The whole current column could be down to 1.6 TWT (~1,200 meters). The water from onland Taiwan also mix with the main Kuroshio current and reveals an obvious eastward dipping high seismic reflector. Second branch is situated at 110 km distance east of Taiwan, near the Gugua Ridge. This column forms oval-shaped and also be extended to 1,200 meters in deep.

  14. Characterization of radioactive contaminants and water treatment trials for the Taiwan Research Reactor's spent fuel pool.

    PubMed

    Huang, Chun-Ping; Lin, Tzung-Yi; Chiao, Ling-Huan; Chen, Hong-Bin

    2012-09-30

    There were approximately 926 m(3) of water contaminated by fission products and actinides in the Taiwan Research Reactor's spent fuel pool (TRR SFP). The solid and ionic contaminants were thoroughly characterized using radiochemical analyses, scanning electron microscopy equipped with an energy dispersive spectrometer (SEM-EDS), and inductively coupled plasma optical emission spectrometry (ICP-OES) in this study. The sludge was made up of agglomerates contaminated by spent fuel particles. Suspended solids from spent ion-exchange resins interfered with the clarity of the water. In addition, the ionic radionuclides such as (137)Cs, (90)Sr, U, and ?-emitters, present in the water were measured. Various filters and cation-exchange resins were employed for water treatment trials, and the results indicated that the solid and ionic contaminants could be effectively removed through the use of <0.9 ?m filters and cation exchange resins, respectively. Interestingly, the removal of U was obviously efficient by cation exchange resin, and the ceramic depth filter composed of diatomite exhibited the properties of both filtration and adsorption. It was found that the ceramic depth filter could adsorb ?-emitters, ?-emitters, and uranium ions. The diatomite-based ceramic depth filter was able to simultaneously eliminate particles and adsorb ionic radionuclides from water. PMID:22841295

  15. Stock market dynamics: Before and after stock market crashes

    NASA Astrophysics Data System (ADS)

    Siokis, Fotios M.

    2012-02-01

    This paper presents a brief analysis on the distribution of magnitude of major stock market shocks. Based on the Gutenberg-Richter law in geophysics, we model the dynamics of market index returns prior and after major crashes in search of statistical regularities. For a large number of market crashes, our analysis suggests that the distribution of market volatility before and after the stock market crash is described well by the Gutenberg-Richter law, which reflects the scale-invariance and self-similarity of the underlying dynamics by a robust power-law relation. In addition, the rate of the decay of the aftershock sequence is well described by another power law, which is known as the Omori law. Power law relaxation seems to be a common behavior observed in complex systems such as the financial markets.

  16. Cool Season Paleotemperatures at Tree Line in Taiwan

    NASA Astrophysics Data System (ADS)

    Wright, W. E.; Chan, M.

    2011-12-01

    Taiwan has over 200 mountains whose peaks exceed 3,000 meters in elevation. Despite straddling the Tropic of Cancer, the higher peaks have snow and freezing temperatures every winter. Trees growing above 3,500 meters show clear temperature variation, even producing frost rings. Yet unlike temperate tree-line species, with their warm season temperature signal, trees growing at Taiwan's tree line show sensitivity to cool season temperatures. Juniperus squamata growing above 3,500 meters in central Taiwan have ring width time series that commonly exceed 600 years. Presented are the first dendroclimatological analyses from Taiwanese Juniperus squamata.

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

    NASA Astrophysics Data System (ADS)

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

    2013-10-01

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

  18. Online Investing: Surf the Stocks

    NSDL National Science Digital Library

    Whether it be the meteoric rise in Internet company stocks or the President's plan to invest Social Security funds in the stock market, Wall Street is getting quite a bit of press these days. Another related story that has received a great deal of attention is the strong growth in online investing. This new CNET (last described in the November 6, 1998 Scout Report) topic center attempts to decipher all the buzz and present users with the information they need to decide whether or not online investing is for them. The site features four articles taking readers from the decision to invest to managing their online portfolios, online investing news, computer security tips and applications, investing downloads (PC only), and a selection of briefly annotated links to investment news and service sites.

  19. Correlation and volatility in an Indian stock market: A random matrix approach

    NASA Astrophysics Data System (ADS)

    Kulkarni, Varsha; Deo, Nivedita

    2007-11-01

    We examine the volatility of an Indian stock market in terms of correlation of stocks and quantify the volatility using the random matrix approach. First we discuss trends observed in the pattern of stock prices in the Bombay Stock Exchange for the three-year period 2000 2002. Random matrix analysis is then applied to study the relationship between the coupling of stocks and volatility. The study uses daily returns of 70 stocks for successive time windows of length 85 days for the year 2001. We compare the properties of matrix C of correlations between price fluctuations in time regimes characterized by different volatilities. Our analyses reveal that (i) the largest (deviating) eigenvalue of C correlates highly with the volatility of the index, (ii) there is a shift in the distribution of the components of the eigenvector corresponding to the largest eigenvalue across regimes of different volatilities, (iii) the inverse participation ratio for this eigenvector anti-correlates significantly with the market fluctuations and finally, (iv) this eigenvector of C can be used to set up a Correlation Index, CI whose temporal evolution is significantly correlated with the volatility of the overall market index.

  20. Dynamic Evolution of Cross-Correlations in the Chinese Stock Market

    PubMed Central

    Ren, Fei; Zhou, Wei-Xing

    2014-01-01

    The analysis of cross-correlations is extensively applied for the understanding of interconnections in stock markets and the portfolio risk estimation. Current studies of correlations in Chinese market mainly focus on the static correlations between return series, and this calls for an urgent need to investigate their dynamic correlations. Our study aims to reveal the dynamic evolution of cross-correlations in the Chinese stock market, and offer an exact interpretation for the evolution behavior. The correlation matrices constructed from the return series of 367 A-share stocks traded on the Shanghai Stock Exchange from January 4, 1999 to December 30, 2011 are calculated over a moving window with a size of 400 days. The evolutions of the statistical properties of the correlation coefficients, eigenvalues, and eigenvectors of the correlation matrices are carefully analyzed. We find that the stock correlations are significantly increased in the periods of two market crashes in 2001 and 2008, during which only five eigenvalues significantly deviate from the random correlation matrix, and the systemic risk is higher in these volatile periods than calm periods. By investigating the significant contributors of the deviating eigenvectors in different time periods, we observe a dynamic evolution behavior in business sectors such as IT, electronics, and real estate, which lead the rise (drop) before (after) the crashes. Our results provide new perspectives for the understanding of the dynamic evolution of cross-correlations in the Chines stock markets, and the result of risk estimation is valuable for the application of risk management. PMID:24867071

  1. Dynamic evolution of cross-correlations in the Chinese stock market.

    PubMed

    Ren, Fei; Zhou, Wei-Xing

    2014-01-01

    The analysis of cross-correlations is extensively applied for the understanding of interconnections in stock markets and the portfolio risk estimation. Current studies of correlations in Chinese market mainly focus on the static correlations between return series, and this calls for an urgent need to investigate their dynamic correlations. Our study aims to reveal the dynamic evolution of cross-correlations in the Chinese stock market, and offer an exact interpretation for the evolution behavior. The correlation matrices constructed from the return series of 367 A-share stocks traded on the Shanghai Stock Exchange from January 4, 1999 to December 30, 2011 are calculated over a moving window with a size of 400 days. The evolutions of the statistical properties of the correlation coefficients, eigenvalues, and eigenvectors of the correlation matrices are carefully analyzed. We find that the stock correlations are significantly increased in the periods of two market crashes in 2001 and 2008, during which only five eigenvalues significantly deviate from the random correlation matrix, and the systemic risk is higher in these volatile periods than calm periods. By investigating the significant contributors of the deviating eigenvectors in different time periods, we observe a dynamic evolution behavior in business sectors such as IT, electronics, and real estate, which lead the rise (drop) before (after) the crashes. Our results provide new perspectives for the understanding of the dynamic evolution of cross-correlations in the Chines stock markets, and the result of risk estimation is valuable for the application of risk management. PMID:24867071

  2. Quantifying bid-ask spreads in the Chinese stock market using limit-order book data

    Microsoft Academic Search

    Gao-Feng Gu; Wei Chen; Wei-Xing Zhou

    2007-01-01

    .  The statistical properties of the bid-ask spread of a\\u000a frequently traded Chinese stock listed on the Shenzhen Stock\\u000a Exchange are investigated using the limit-order book data. Three\\u000a different definitions of spread are considered based on the time\\u000a right before transactions, the time whenever the highest buying\\u000a price or the lowest selling price changes, and a fixed time\\u000a interval. The results

  3. Tracing the temporal evolution of clusters in a financial stock market

    E-print Network

    Arratia, Argimiro

    2011-01-01

    We propose a methodology for clustering financial time series of stocks' returns, and a graphical set-up to quantify and visualise the evolution of these clusters through time. The proposed graphical representation allows for the application of well known algorithms for solving classical combinatorial graph problems, which can be interpreted as problems relevant to portfolio design and investment strategies. We illustrate this graph representation of the evolution of clusters in time and its use on real data from the Madrid Stock Exchange market.

  4. Motorcycle pollution control in Taiwan, Republic of China

    SciTech Connect

    Chen, H.W.; Hsiao, H.C.; Walsh, M.P.

    1998-12-31

    The Taiwan EPA has developed a comprehensive approach to motor vehicle pollution control. Building on its early adoption of US `83 standards for light duty vehicles (starting July 1, 1990) it recently moved to US `87 requirements, which include the 0.2 gram per mile particulate standard, as of July 1, 1995. Heavy duty diesel particulate standards almost as stringent as US `90, 6.0 grams per brake horsepower hour NO{sub x} and 0.7 particulate, using the US transient test procedure, went into effect on July 1, 1993. It is intended that US`94 standards, 5.0 NO{sub x} and 0.25 particulate, will be adopted soon. Clearly the most distinctive feature of the Taiwan program, however, is its motorcycle control effort, reflecting the fact that motorcycles dominate the vehicle fleet and are a substantial source of emissions. This paper will summarize Taiwan`s extensive efforts to address this problem.

  5. Paths toward hepatitis B immunization in South Korea and Taiwan

    PubMed Central

    2013-01-01

    South Korea and Taiwan have had similar experiences of economic development in the post-war era. The two societies have also successfully overcome the threat of liver cancer by using mass hepatitis B vaccinations. However, to reach their current states, they followed different directions, and experienced differing effects on their national health governance systems. In South Korea, vaccine production occurred prior to effectively introducing immunization programs. In contrast, Taiwan established an effective immunization program first. However, industrialization of vaccines against hepatitis B has failed. Taiwan has to import vaccines for domestic use. This article provides a contextual overview on the different methods South Korea and Taiwan have used to arrive at their modern status of hepatitis B immunization. PMID:23858397

  6. The Midwife in Taiwan: An Alternative Model for Maternity Care.

    ERIC Educational Resources Information Center

    Kang-Wang, Janet F.

    1980-01-01

    The author compares and analyzes American and Taiwanese maternity care systems, discussing the history of midwifery in Taiwan; the process by which a midwife establishes her practice; and her role in childbirth, abortion, adoption, and other services. (Author/DS)

  7. NRAO Welcomes Taiwan as a New North American ALMA Partner

    NASA Astrophysics Data System (ADS)

    2008-12-01

    The National Radio Astronomy Observatory (NRAO) has announced a formal agreement enabling Taiwanese astronomers to participate in the North American component of the international ALMA partnership, alongside American and Canadian astronomers. Taiwan's efforts will be led by the Academia Sinica Institute of Astronomy and Astrophysics (ASIAA). ALMA, the Atacama Large Millimeter/submillimeter Array, is the most ambitious ground-based astronomical observatory in history. Currently under construction in Chile’s Atacama Desert at an altitude of 16,500 feet, it promises to revolutionize our understanding of the formation of planets, stars, and galaxies when it begins full science operations early in the next decade. The agreement, signed by the Taipei Economic and Cultural Representative Office and the American Institute in Taiwan, provides for approximately $20 million in ALMA construction funding through the National Science Council (NSC), Taiwan’s equivalent to the US National Science Foundation (NSF) and Canada's National Research Council (NRC), which have jointly funded North America's existing contribution to the international ALMA project. Activities under the agreement will include joint research projects, development projects, collaboration on construction, support of observatory operations and other forms of cooperation. Access to ALMA observing time will be shared, as will membership on advisory committees. “Taiwan is a world-class center for submillimeter-wavelength astronomical research, and we’re delighted that the ALMA project and all its future users will benefit from the resources and expertise that Taiwan’s deepening participation brings to this great, global endeavor,” said Dr. Fred Lo, NRAO's director. This new agreement increases and diversifies Taiwan’s Academia Sinica investment in ALMA beyond the levels achieved through its participation in the East Asian component of the ALMA partnership, which is led by the National Astronomical Observatory of Japan. The agreement mirrors previous ones affording Taiwan astronomers enhanced access to NRAO’s US-based research facilities. “ALMA will be one of the greatest ground-based observatories of the coming decade, and we look forward eagerly to working alongside our colleagues at the NRAO, and with the other ALMA partners, to make ALMA even more successful,” said Dr. Paul Ho, ASIAA’s director. The ALMA Project is a partnership between the scientific communities of East Asia, Europe and North America with Chile. ALMA is funded in North America by the U.S. National Science Foundation in cooperation with the National Research Council of Canada and the National Science Council of Taiwan. ALMA construction and operations are led on behalf of North America by the National Radio Astronomy Observatory, which is operated under cooperative agreement by Associated Universities, Inc.

  8. The first archaic Homo from Taiwan.

    PubMed

    Chang, Chun-Hsiang; Kaifu, Yousuke; Takai, Masanaru; Kono, Reiko T; Grün, Rainer; Matsu'ura, Shuji; Kinsley, Les; Lin, Liang-Kong

    2015-01-01

    Recent studies of an increasing number of hominin fossils highlight regional and chronological diversities of archaic Homo in the Pleistocene of eastern Asia. However, such a realization is still based on limited geographical occurrences mainly from Indonesia, China and Russian Altai. Here we describe a newly discovered archaic Homo mandible from Taiwan (Penghu 1), which further increases the diversity of Pleistocene Asian hominins. Penghu 1 revealed an unexpectedly late survival (younger than 450 but most likely 190-10 thousand years ago) of robust, apparently primitive dentognathic morphology in the periphery of the continent, which is unknown among the penecontemporaneous fossil records from other regions of Asia except for the mid-Middle Pleistocene Homo from Hexian, Eastern China. Such patterns of geographic trait distribution cannot be simply explained by clinal geographic variation of Homo erectus between northern China and Java, and suggests survival of multiple evolutionary lineages among archaic hominins before the arrival of modern humans in the region. PMID:25625212

  9. The first archaic Homo from Taiwan

    PubMed Central

    Chang, Chun-Hsiang; Kaifu, Yousuke; Takai, Masanaru; Kono, Reiko T.; Grün, Rainer; Matsu’ura, Shuji; Kinsley, Les; Lin, Liang-Kong

    2015-01-01

    Recent studies of an increasing number of hominin fossils highlight regional and chronological diversities of archaic Homo in the Pleistocene of eastern Asia. However, such a realization is still based on limited geographical occurrences mainly from Indonesia, China and Russian Altai. Here we describe a newly discovered archaic Homo mandible from Taiwan (Penghu 1), which further increases the diversity of Pleistocene Asian hominins. Penghu 1 revealed an unexpectedly late survival (younger than 450 but most likely 190–10 thousand years ago) of robust, apparently primitive dentognathic morphology in the periphery of the continent, which is unknown among the penecontemporaneous fossil records from other regions of Asia except for the mid-Middle Pleistocene Homo from Hexian, Eastern China. Such patterns of geographic trait distribution cannot be simply explained by clinal geographic variation of Homo erectus between northern China and Java, and suggests survival of multiple evolutionary lineages among archaic hominins before the arrival of modern humans in the region. PMID:25625212

  10. exchange membranes

    Microsoft Academic Search

    W. Michaels; J. Vermeulen; R. D. Sanderson; D. G. Bessarabov

    The chemical modification of the surface of ion-exchange membranes (SPE, solid polymer electrolytes) provides new possibilities for applications of SPE-based membrane catalytic systems (1). Surface modification can considerably influence the surface properties of the membrane. In the case of catalyst deposition on the modified membrane, the profile of the catalyst particles within the membrane and their size can be alternated

  11. Four anthropometric indices and cardiovascular risk factors in Taiwan

    Microsoft Academic Search

    K-C Huang; W-Y Lin; L-T Lee; C-Y Chen; H Lo; H-H Hsia; I-L Liu; W-Y Shau; R-S Lin; Kuo-Chin Huang

    2002-01-01

    OBJECTIVE: To examine the relationships between four anthropometric measurements and cardiovascular risk factors in Taiwan.DESIGN: The data was collected from four nationwide health screen centers in Taiwan from 1998 to 1999.SUBJECTS: A total of 38 556 subjects: 18 280 men and 20 276 women, mean age=37.0±11.1 y. None had any known major systemic diseases or were currently on medication.MEASUREMENTS: Individual

  12. Geneticizing Ethnicity: A study on the “Taiwan Bio-Bank”

    Microsoft Academic Search

    Yu-yueh Tsai

    2010-01-01

    Taiwan as an island country is an immigrant society where interethnic marriages have been common. In the past centuries, it\\u000a has not been unusual that people in Taiwan change their ethnic identities for various reasons. Its “four great ethnic groups”\\u000a (sida zuqun)—the Hoklo, Hakka, Mainlanders, and aboriginal peoples—exist only as a social construction that arose in the 1990s in a

  13. Cybercrime in Taiwan - An Analysis of Suspect Records

    Microsoft Academic Search

    Wenyuan Jen; Weiping Chang; Shihchieh Chou

    2006-01-01

    \\u000a This paper explores the increasing number of cybercrime cases in Taiwan and examines the demographic characteristics of the\\u000a criminals responsible for the criminal activity. The report is based upon data taken from the Criminal Investigation Bureau\\u000a of Taiwan cybercrime database over the interval of 1999 through 2004. The paper defines cybercrime, addresses cybercrime case\\u000a statistics and examines profiles of the

  14. Epidemiology of hospitalized burns patients in Taiwan.

    PubMed

    Chien, Wu-Chien; Pai, Lu; Lin, Chao-Cheng; Chen, Heng-Chang

    2003-09-01

    Previous studies based on either single hospital data or sampling of specific groups of hospitalized burns victims in Taiwan have provided only minimal epidemiological information. The study is designed to provide additional data on the epidemiology of hospitalized burns patients in Taiwan. Data were obtained from the Burn Injury Information System (BIIS), which brings together information supplied by 34 contracted hospitals. The study time course spanned a 2-year period from July 1997 to June 1999. Patient characteristics (age, sex, education level, etc.), causes and severity of injuries, and medical care measures were explored. A total of 4741 patients were registered with BIIS over the study period. The majority of hospitalized patients (67%) were male. The age distribution of burns patients showed peaks occurring at the age groups of 0-5 and 35-44 years. Over the time course of a day, burn injuries occurred more frequently from 10:00 to 12:00 h and 16:00 to 18:00 h. Injuries suspected as the result of suicide, homicide or child abuse accounted for 4.8% of hospitalized cases. More than 48% of the burns occurred in the home. The leading type of burn injury was scalding, followed by naked flame, explosion, electrical burns, and chemical burns due to caustic or corrosive substances. The mean percent total body surface area (%TBSA) for adults was 19%, and for young children was 12%. The average length of hospital stay was 18 days. In conclusion, children under 5 years and adults between 35 and 44 years of age are two high-risk groups for burn injuries. Corresponding to meal preparation time, hot substances such as boiling water, hot soup, etc. are the most common agents responsible for scalds. Prevention programs for reducing the risk of burn injuries during cooking and eating are required, especially for parents with young children. PMID:12927984

  15. The establishment of experimental watershed in Taiwan

    NASA Astrophysics Data System (ADS)

    Wang, Yu-Chi; Tsung, Shun-Chung; Wang, Hau-Wei; Chen, Cheng-Hsin; Chang, Ya-Chi; Ho, Jui-Yi; Lee, Shih-Chiang; Hong, Jian-Hao

    2015-04-01

    The rainfall distribution in Taiwan is non-uniform in space and unsteady in time. The water level in the river usually rises rapidly due to the steep slope gradient in the upland area of the watershed. In addition, urbanization and high rainfall intensity result in an increase in surface runoff and decrease the time of concentration. All of these lead to flooding-related disasters and influence people's lives. Thus, the establishment of a more complete hydro-information will increase our understanding of the characteristics of watersheds, prevent disasters, and mitigate damages. To overcome these deficiencies, the Water Resources Agency (WRA), Ministry of Economic Affairs has identified Yilan and Dianbao River Basin to develop a long-term monitoring, then Taiwan Typhoon and Flood Research Institute is responsible for this project. The monitoring sites had been installed in 2012. The sensors for monitoring include rainfall gauge, water level sensor, water surface velocity sensor and pressure-type water depth sensor. Totally, there are 73 sites in the experimental watershed, including the sites installed by the Central Weather Bureau and the Water Resources Agency. Over 30 million data have been collected and validated. Most of data have been passed the processes and considered reliable data. Then, three types of models are applied including rainfall-runoff, river routing and two-dimensional flood models. The simulation results can properly fit the monitored data in these selected events and indicates these models are proper for the experimental watersheds and suitable used for real-time warning. Finally, for purpose of hydrological monitoring and disaster mitigation, a website has been created to show the monitoring data. The users can login and browse the real time monitoring data and figure of temporal data in the past 24 hours and get the information for flood mitigation and emergent evacuation.

  16. Submarine landslide hazard off Northeastern Taiwan

    NASA Astrophysics Data System (ADS)

    Huang, C. L.; Hsu, S. K.; Tsai, C. H.; Doo, W. B.; Lin, S. S.

    2014-12-01

    In the northern margin of the western end of the Okinawa Trough, three major submarine channels running across the continental margin are distinctive. From east to west, they are the North Mein-Hua Submarine Canyon, Mein-Hua Submarine Canyon and the Keelung Valley. To the east of the Mein-Hua Submarine Canyon, the slope of the continental margin is quite gentle, implying that the risk of slope instability is low. However, between the Keelung Valley and the Mei-Hua Submarine Canyon, the slope is rather steep. We have conducted multi-channel reflection seismics, sub-bottom profilers and multi-beam bathymetry in this area. The results show two general trends of fracture or faulting. The NE-SW trending faults generally follow the major orientation of the Taiwan mountain belt. Thus, these faults could be reverse faults from the former collisional thrust faults to currently post-collisional normal faults. Another almost E-W trending faults are consistent with the N-S extending of the Southern Okinawa Trough. Because the most significant faulting in the northwest end of the study is probably associated with the offshore extension of the Kenchiao Fault or the Sanchiao Fault, we consider either of these two faults as the northeast boundary (headwall) of the potential submarine landslide. Taking the stability slope angle of 0.5 degree as the stable landslide slope as shown in the area to the northeast of the study area, we estimate the total volume of the potential submarine landslide could be 300 cubic kilometers. Such a landslide volume may generate a local tsunami and affect especially the northeast coast of Taiwan.

  17. sup 10 Be study of rapid erosion in Taiwan

    SciTech Connect

    Chenfeng You; Juchin Chen (Institute of Earth Sciences, Taipei (Taiwan) National Taiwan Univ., Taipei (Taiwan)); Typhoon Lee; Jason Jiunsan Shen (Institute of Earth Sciences, Taipei (Taiwan)); Brown, L. (Carnegie Institution of Washington, DC (USA))

    1988-11-01

    Cosmogenic {sup 10}Be was measured using accelerator mass spectrometry in soils and sediments to study the erosion of Taiwan, which has the highest denudation rate in the world. The river sediments in Taiwan have very low {sup 10}Be concentrations, around 5 million atoms per gram, about 1/45 the world wide average. This is the direct consequence of its high sediment yield of ore than 1,000 mg/cm{sup 2}/yr, 70 times the world average. Combining these values the authors found that, for Taiwan as a whole, the {sup 10}Be output to the sea only slightly exceeds the input from the rain, a situation typical of many areas around the world. Therefore, even in this example of extremely rapid erosion, {sup 10}Be seems to remain a useful indicator for erosion status. The total {sup 10}Be inventory found in a soil profile from a geologically stable area is at least 18% of the maximum possible inventory. The minimum age thus estimated for the soil is 0.11 Ma, in reasonable agreement with estimates from other means. The maximum erosion rate for this area thus estimated is at most 0.14 mg/cm{sup 2}/yr, four orders of magnitude slower than the average value observed for Taiwan. They also demonstrate that the shelf sediments around Taiwan have received the admixing of a {sup 10}be rich component from the ocean and would give a poor estimate for material eroded from Taiwan.

  18. Round robin study of chlorine, sulfur and carbon in copper films from Taiwan SIMS users

    NASA Astrophysics Data System (ADS)

    Chen, C. Y.; Ling, Y. C.; Hwang, J. F.; Lee, J. H.; Wen, M. L.; Hwang, M. C.; Lin, G. C.; Deng, R. C.

    2003-01-01

    The round robin study of reference standards of 35Cl, 32S and 12C implanted into Cu films using five SIMS instruments from Taiwan SIMS users was attempted. Significant differences in RSFs but similarity in maximum peak concentration among different instruments was observed. For 35Cl, 32S and 12C measured using Cameca ims-6f, the RSF is 3.67E+19, 5.44E+20, 4.24E+21, the detection limit is 2.5E+16, 3.17E+16, 2.34E+18, and the dynamic range is 8.11E+3, 2.22E+4, 2.3E+1, respectively. The exchangeable use of RSF is recommended among model-specific instruments.

  19. An Analysis of Currency Options and Exchange Rate Distributions

    E-print Network

    of this paper and suggest extensions of and refinements to the analysis. Keywords: Black­Scholes model; currency options; foreign exchange; implied volatility; risk neutral valuation; pricing; valuation; at the money. 1 rates which is both parsimonious and more accurate than the Black­Scholes model for stock behavior

  20. 75 FR 80872 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-12-23

    ...Proposed Rule Change To Modify How Odd-Lots Are Handled on CBSX December 16, 2010...The Exchange proposes to modify how odd-lot orders are handled on the CBOE Stock Exchange...Currently, CBSX handles and executes round lot orders differently from the manner in...

  1. Environmental variation, vegetation distribution, carbon dynamics and water\\/energy exchange at high latitudes

    Microsoft Academic Search

    A. D. McGuire; C. Wirth; M. Apps; J. Beringer; J. Clein; H. Epstein; D. W. Kicklighter; J. Bhatti; F. S. Chapin; B. de Groot; D. Efremov; W. Eugster; M. Fukuda; T. Gower; L. Hinzman; B. Huntley; G. J. Jia; E. Kasischke; J. Melillo; V. Romanovsky; A. Shvidenko; E. Vaganov; D. Walker

    2002-01-01

    The responses of high latitude ecosystems to global change involve complex interactions among environmental variables, vegetation distribution, carbon dynamics, and water and energy exchange. These responses may have important consequences for the earth system. In this study, we evaluated how vegetation distribution, carbon stocks and turnover, and water and energy exchange are related to environmental variation spanned by the network

  2. The Predictability of International Real Estate Markets, Exchange Rate Risks and Diversification Consequences

    Microsoft Academic Search

    Crocker H. Liu; Jianping Mei

    1998-01-01

    International real estate related securities are investigated to see whether they offer any incremental diversification benefits over foreign stocks using mean-variance analysis together with a multifactor latent variable model. Diversification benefits are found to be primarily driven by unanticipated returns which are partially driven by changes in exchange rate risk. Although exchange rate risk accounts for a larger portion of

  3. 12 CFR 221.121 - Extension of credit in certain stock option and stock purchase plans.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ...BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM CREDIT BY BANKS AND PERSONS OTHER THAN BROKERS OR DEALERS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.121 Extension of credit in certain stock option...

  4. 12 CFR 221.121 - Extension of credit in certain stock option and stock purchase plans.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ...BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM CREDIT BY BANKS AND PERSONS OTHER THAN BROKERS OR DEALERS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.121 Extension of credit in certain stock option...

  5. Dynamic models of a Taiwan-like orogeny

    NASA Astrophysics Data System (ADS)

    Downey, N. J.; Lavier, L. L.

    2009-12-01

    Taiwan is the type example of orogeny resulting from arc-continent collision. Over approximately the last 10 m.yr., collision of the Luzon volcanic arc with the Chinese passive margin has caused the formation and uplift of Taiwan. While the large-scale dynamics of the plate tectonic and subduction systems involved in this collision are getting better constrained (TAIGER), the orogenic processes occurring in Taiwan result from smaller-scale dynamical processes evolving within this larger context. Few fully dynamic models of these orogenic processes have been proposed. We present high-resolution, two-dimensional dynamic models of mountain building in Taiwan created using FLAC (Fast Lagrangian Analysis of Continua). These models demonstrate the evolution of the crust and uppermost mantle during orogeny and are capable of quantifying dynamic processes down to the scale of individual crustal faults. We model the Taiwan orogeny as the impact of a relatively rigid indentor with a passive margin whose crustal and sediment thicknesses increase toward the continent. These models allow us to evaluate and quantify the role of crustal yielding and under-plating during orogenic processes. We also investigate the effect a diffusive erosion law has on orogeny. This erosion law is appropriate for modeling the landslide processes that dominate erosion in Taiwan. The strength of this erosion determines the amount of back thrusting and exhumation during orogeny. The obliquity of the collision between the Luzon arc and China has led, under an ergodic assumption, to the idea that the southern portions of Taiwan represent a less-mature orogenic belt than those farther north. We therefore use the preliminary interpretations of seismic data obtained offshore southern Taiwan during the TAIGER experiment, along with geologic and seismic transects across several locations within Taiwan to constrain the time evolution of our models. Our models also make direct predictions of temperature-pressure-time paths of material moving through the orogeny that can be directly compared with geochronological data. These data constraints allow us to determine the relative importance of crustal yielding, exhumation, under-plating and mantle deformation during the formation of Taiwan, which, in turn, provide important implications for seismic hazard evaluation.

  6. Job Exchange

    NSDL National Science Digital Library

    1998-01-01

    Job Exchange, provided by BioMedNet (discussed in the February 14, 1997 Scout Report) is a searchable database of jobs in molecular biology, genetics, general biology, and the biomedical sciences. Employment opportunities are updated frequently and may be searched or browsed by position type (Academic/Research Institution, Government/Private Research, Hospital/Medical Institution, Industry/Other), international region, or specialty. Typical returns include full job details, including summary of duties, salary range, duration of position, and contact information.

  7. Food exchange list based on 80-kilocalorie rice unit.

    PubMed

    Hung, C T

    1989-06-01

    The conventional food exchange list which has been used in most hospitals and nutrition related institutes in Taiwan is derived from that published by a Joint Committee of the American Diabetes Association, American Dietetic Association, and the Diabetes Section, U.S. Public Health Services in 1950. There are several disadvantages of using this conventional table as an educational tool for Chinese patients in Taiwan. Those disadvantages include ignorance of macronutrients, nonnutritional classification of food and variance in calories between food categories. Our food exchange list aimed to classify food items into carbohydrate, protein and fat-rich food groups isocalorically. First of all, a "rice-unit" is defined as a 1/4 bowl of cooked rice, which contains approximately 80 kcal. Second, 80 kcal derived from the "rice unit" was used as a basic calorie unit in this study for definition of carbohydrate-rich, protein-rich, and fat-rich food items. All of the following items contain approximately 80 kcal: 1/2 bowl of gruel, a small banana, two medium sized oranges, a slice of bread (carbohydrate-rich items), an egg, 38g of pork (protein-rich items) and two teaspoons of soybean oil (a fat-rich item). There are several benefits of using this recommended food exchange list: (1) Rice is the most important staple in the Chinese family. The recommended food exchange list is derived from rice to enhance practicality and compliance of the Chinese people in Taiwan. Moreover, the theory of a high carbohydrate, high-fiber diet recommended by the ADA in 1987 has been stressed in this study.(ABSTRACT TRUNCATED AT 250 WORDS) PMID:2794960

  8. Asymmetric Effects of Oil Price Fluctuations in International Stock Markets

    Microsoft Academic Search

    Sofia B. Ramos; Helena Veiga

    2009-01-01

    New evidence on the way oil price fluctuations affect international stock markets is provided in analysis of the exposure of 43 stock markets. Oil price spikes depress international stock markets, but oil price drops do not necessarily increase stock market returns. Moreover, the volatility of oil prices has a negative impact on international stock market returns. Both these effects apply

  9. Are sin stocks paying the price for their accounting sins?

    Microsoft Academic Search

    Irene Kim; Mohan Venkatachalam

    A recent study by Hong and Kazperczyk (2005) finds that sin stocks - publicly-traded stocks in the gaming, tobacco, and alcohol industries are neglected by the stock market despite generating abnormal stock returns. We examine a rational explanation for their findings. Are the excess returns and investor neglect of sin stocks attributable to higher levels of information risk arising from

  10. Canonical Sectors and Evolution of Firms in the US Stock Markets

    E-print Network

    Chachra, Ricky; Hayden, Lorien X; Ginsparg, Paul H; Sethna, James P

    2015-01-01

    A classification of companies into sectors of the economy is important for macroeconomic analysis and for investments into the sector-specific financial indices and exchange traded funds (ETFs). Major industrial classification systems and financial indices have historically been based on expert opinion and developed manually. Here we show how unsupervised machine learning can provide a more objective and comprehensive broad-level sector decomposition of stocks. An emergent low-dimensional structure in the space of historical stock price returns automatically identifies "canonical sectors" in the market, and assigns every stock a participation weight into these sectors. Furthermore, by analyzing data from different periods, we show how these weights for listed firms have evolved over time.

  11. Does futures trading increase stock market volatility? The case of the Nikkei stock index futures markets

    Microsoft Academic Search

    Eric C. Chang; Joseph W. Cheng; J. Michael Pinegar

    1999-01-01

    We propose new tests to examine whether stock index futures affect stock market volatility. These tests decompose spot portfolio volatility into the cross-sectional dispersion and the average volatility of returns on the portfolio's constituent securities. Our tests show that for Nikkei stocks spot portfolio volatility increased and cross-sectional dispersion decreased compared with average volatility when Nikkei futures began trading on

  12. Intensive-Early Stocking and Season-Long Stocking of Kansas Flint Hills Range

    E-print Network

    Owensby, Clenton E.

    Intensive-Early Stocking and Season-Long Stocking of Kansas Flint Hills Range ED F. SMITH AND CLENTON E. OWENSBY Highlight: Native Flint Hills bluestem range was stocked at twice the normal rate, 1 gains during the latter half of the growing season on Kansas Flint Hills range are barely one-half those

  13. Is Stock BBS Content Correlated with the Stock Market? A Japanese Case

    Microsoft Academic Search

    Ken Maruyama; Eiichi Umehara; Hirohiko Suwa; Toshizumi Ohta

    2009-01-01

    We analyze the relations between the stock market and a stock bulletin board system (BBS) in Japan. Previous studies in the USA found that the characteristics of messages posted on stock BBSs can predict market volatility and trading volume. We develop hypotheses based on the results of those analyses and apply statistical analysis to the data about companies mentioned in

  14. Characteristics and management of infectious industrial waste in Taiwan

    SciTech Connect

    Huang, M.-C. [Institute of Engineering Science and Technology, National Kaohsiung First University of Science and Technology, No. 2, Jhuoyue Road, Nanzih District, Nanzih, Kaohsiung 811, Taiwan (China)], E-mail: u9315915@ccms.nkfust.edu.tw; Lin, Jim Juimin [Institute of Engineering Science and Technology, National Kaohsiung First University of Science and Technology, No. 2, Jhuoyue Road, Nanzih District, Nanzih, Kaohsiung 811, Taiwan (China)

    2008-11-15

    Infectious industrial waste management in Taiwan is based on the specific waste production unit. In other countries, management is based simply on whether the producer may lead to infectious disease. Thus, Taiwan has a more detailed classification of infectious waste. The advantage of this classification is that it is easy to identify the sources, while the disadvantage lies in the fact that it is not flexible and hence increases cost. This study presents an overview of current management practices for handling infectious industrial waste in Taiwan, and addresses the current waste disposal methods. The number of small clinics in Taiwan increased from 18,183 to 18,877 between 2003 and 2005. Analysis of the data between 2003 and 2005 showed that the majority of medical waste was general industrial waste, which accounted for 76.9%-79.4% of total medical waste. Infectious industrial waste accounted for 19.3%-21.9% of total medical waste. After the SARS event in Taiwan, the amount of infectious waste reached 19,350 tons in 2004, an increase over the previous year of 4000 tons. Waste minimization was a common consideration for all types of waste treatment. In this study, we summarize the percentage of plastic waste in flammable infectious industrial waste generated by medical units, which, in Taiwan was about 30%. The EPA and Taiwan Department of Health have actively promoted different recycling and waste reduction measures. However, the wide adoption of disposable materials made recycling and waste reduction difficult for some hospitals. It has been suggested that enhancing the education of and promoting communication between medical units and recycling industries must be implemented to prevent recyclable waste from entering the incinerator.

  15. Characteristics of Rainfall Distributions over Taiwan during the Taiwan Area Mesoscale Experiment (TAMEX).

    NASA Astrophysics Data System (ADS)

    Yeh, Hsi-Chyi; Chen, Yi-Leng

    1998-11-01

    Based on 808 daily rainfall stations, rainfall distributions over Taiwan during TAMEX (Taiwan Area Mesoscale Experiment) (10 May-27 June 1987) were analyzed. The total rainfall had a maximum on the windward slopes under the prevailing southwesterly monsoon flow, indicating that orographic lifting plays an important role in determining rainfall distribution. About 50% of the rainfall occurred as scattered orographic showers during nonfrontal periods. Along the northwestern coastal plain, about 80% of the rainfall was associated with the passage of surface fronts. Along the eastern coastal, mountainous region, which is on the lee side under the prevailing southwesterly monsoon flow, a large portion of the rainfall was produced by upper-level, cold-core lows and a midlevel vortex event. For these cases, low-level flow was southerly or southeasterly because Taiwan was on the western or southwestern periphery of the western Pacific subtropical high. In this situation, eastern Taiwan was on the windward side. Rainfall occurred on the western side of the mountainous slopes during the late season (1-27 June) twice as much as during the early season (10-31 May). This is consistent with a more persistent southwesterly monsoon flow with a higher moisture content in June than in May.On the windward slopes, the enhancement of orographic lifting by anabatic winds was important for the development of rain showers in the afternoon. The timing of maximum hourly rainfall incidences on the lower windward slopes occurred 1-2 h earlier than on the upper slopes and the mountain interior. Within the Taipei Basin, the hourly rainfall maximum occurred during 1500-1600 LST because of the convergence of surface winds from onshore flow. In the northern and northeastern coastal mountains, the hourly rainfall incidences had an afternoon maximum (1600 LST) due to anabatic winds. In the eastern coastal mountainous region, hourly rainfall also had a maximum during 1700-2000 LST. Along the western coastal regions with flat terrain the diurnal variations of hourly rainfall and hourly rainfall incidences were less important than in other regions.

  16. III JOINT SYMPOSIUM OF TAIWAN-RUSSIA RESEARCH COOPERATION ON ADVANCED PROBLEMS IN

    E-print Network

    Kaplan, Alexander

    .. III - « , » III JOINT SYMPOSIUM OF TAIWAN-RUSSIA RESEARCH: Institute of Mechanics, LMSU, Moscow, Russia Dates: November 0712, 2012 Sponsors: National Science Council, Taiwan Institute of Mechanics, LMSU, Moscow, Russia 2012 #12; 531/534 22.2 63

  17. 78 FR 45512 - Polyethylene Terephthalate Film from India and Taiwan: Extension of Time Limits for Preliminary...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-07-29

    ...A-533-824, A-583-837] Polyethylene Terephthalate Film from India and Taiwan: Extension of Time Limits for...antidumping duty (AD) orders on polyethylene terephthalate film (PET Film) from India and Taiwan, pursuant to section...

  18. 77 FR 14342 - Polyvinyl Alcohol From Taiwan: Correction to Notice of Opportunity To Request Administrative Review

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-03-09

    ...A-583-841] Polyvinyl Alcohol From Taiwan: Correction...Request Administrative Review AGENCY: Import Administration...request administrative review of the antidumping duty order on polyvinyl alcohol from Taiwan. See Antidumping...Request Administrative Review, 77 FR 12559...

  19. Structural, geodetic and seismological evidence for tectonic escape in SW Taiwan

    E-print Network

    Lin, Andrew Tien-Shun

    -strike and along-strike motions on these major faults. Although direct onland structural evidence of tectonic in the Manila trench, incipient collision south of Taiwan, active collision in south-central Taiwan, past

  20. Wintering activity range and population ecology of Black-faced spoonbills (Platalea minor) in Taiwan 

    E-print Network

    Liu, Liang-Li

    2007-09-17

    Black-faced Spoonbill (BFS), Platalea minor, numbers during the non-breeding season increased steadily from 1990 to 2004 in Taiwan. Numbers of the BFS in Taiwan accounted for more than 50% of the total population, with ...

  1. Human leukocyte antigens in inhabitants of Taiwan.

    PubMed

    Lee, C J; Lee, P C; Tai, J J; Lee, P H

    1990-07-01

    Human leukocyte antigens (HLA) were investigated in 200 healthy Taiwan inhabitants of Taiwanese (46 persons), Hakka (36), Tai-Ya Tribe (28) Pu-Long Tribe (30) Pai-Wan Tribe (30) and Lu-kai (30) descent. In those of Taiwanese and Hakka descent, HLA-A11 and A2 were the two most frequently seen human leukocyte antigens. HLA-A11 was seen in 69.6% in those of Taiwanese descent and 61.1% in those of Hakka descent. HLA-A2 was seen in 50.0% of the Taiwanese and 44.4% of the Hakka. For the B loci, B40 (Taiwanese, 43.5%; Hakka, 44.4%), Bw46 (Taiwanese, 28.3%; Hakka, 19.4%) and B13 (Taiwanese, 15.2%; Hakka, 30.6%) were the most common antigens. For the C loci, Cw3 (Taiwanese, 57.1%; Hakka 64.9%), Cw1 (Taiwanese, 28.6%; Hakka, 35.1%) and Cw7 (Taiwanese, 40.5%; Hakka, 29.9%) were commonly seen antigens. The most commonly detected antigens for the DR loci were: DR2 (Taiwanese, 45.1%; Hakka, 56.8%) and DR4 (Taiwanese, 37.3%; Hakka, 32.4%). These results disclose that no major human leukocyte antigenic differences exist between the two aforementioned groups in this study. In addition, there are no major differences in Taiwanese and Hakka descent, and those of south and north mainland Chinese descent. All bear some antigenic similarities. However, for aborigines, the original inhabitants of Taiwan, the HLA antigens are significantly different from the Han Chinese as a whole. Characteristic features are seen in A24, Bw60, DRw6 and DRw8. In the meantime, a high frequency of common antigens are shared among the tribes and consequently a large number of blank alleles are seen in the aborigines. This reflects the homozygosity effect which is often seen in an isolated society. PMID:1979593

  2. Black Monday on stock markets throughout the world - a new phenomenon of collective panic disorder? A psychiatric approach.

    PubMed

    Sperling, Wolfgang; Bleich, Stefan; Reulbach, Udo

    2008-12-01

    Drastic losses on the stock markets within short periods have been the subject of numerous investigations in view of the fact that they are often irrational. Stock exchanges around the world suffered dramatic losses on Monday 21 January 2008, and again recently on Monday 17 March 2008. Regardless of cultural affiliation, public reporting of the global collapse in stock prices on Monday was striking in its almost unified mood of panic, anxiety and general fear of further partially arbitrary trading losses. These partly irrational mechanisms of an international financial crisis seem to fulfil several criteria of typical panic disorders according to classification systems like ICD-10 or DSM-IV. The new phenomenon affects international stock markets in the sense of a global panic disorder (GPD). PMID:18701221

  3. The alarming decline of Mediterranean fish stocks.

    PubMed

    Vasilakopoulos, Paraskevas; Maravelias, Christos D; Tserpes, George

    2014-07-21

    In recent years, fisheries management has succeeded in stabilizing and even improving the state of many global fisheries resources [1-5]. This is particularly evident in areas where stocks are exploited in compliance with scientific advice and strong institutional structures are in place [1, 5]. In Europe, the well-managed northeast (NE) Atlantic fish stocks have been recovering in response to decreasing fishing pressure over the past decade [3-6], albeit with a long way to go for a universal stock rebuild [3, 7]. Meanwhile, little is known about the temporal development of the European Mediterranean stocks, whose management relies on input controls that are often poorly enforced. Here, we perform a meta-analysis of 42 European Mediterranean stocks of nine species in 1990-2010, showing that exploitation rate has been steadily increasing, selectivity (proportional exploitation of juveniles) has been deteriorating, and stocks have been shrinking. We implement species-specific simulation models to quantify changes in exploitation rate and selectivity that would maximize long-term yields and halt stock depletion. We show that stocks would be more resilient to fishing and produce higher long-term yields if harvested a few years after maturation because current selectivity is far from optimal, especially for demersal stocks. The European Common Fisheries Policy that has assisted in improving the state of NE Atlantic fish stocks in the past 10 years has failed to deliver similar results for Mediterranean stocks managed under the same policy. Limiting juvenile exploitation, advancing management plans, and strengthening compliance, control, and enforcement could promote fisheries sustainability in the Mediterranean. PMID:25017210

  4. 77 FR 35732 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-06-14

    ...of Proposed Rule Change Relating to NDX Pricing June 8, 2012. Pursuant to Section 19...NASDAQ Stock Market LLC proposes to modify pricing for NASDAQ members using the NASDAQ Options...rules which the Exchange recognizes in its pricing. \\9\\ See ISE's Fee Schedule....

  5. Trading rules and stock returns: some preliminary short run evidence from the Hang Seng 1985-1997

    Microsoft Academic Search

    Kwong-C. Cheung

    2000-01-01

    The paper investigates the applicability and validity of trading rules in the Hang Seng Index on the Hong Kong Stock Exchange for the period January 1985 to June 1997, and for two subsamples of equal length, partitioned from the whole sample. It is concluded that the Moving Average Oscillator and the Trading Range Break-out rules appear to be present, to

  6. Financing Alternatives for Chinese Small and Medium Enterprises: The Case for a Small and Medium Enterprise Stock Market

    Microsoft Academic Search

    Hung-gay Fung; Qingfeng Liu; Jot Yau

    2007-01-01

    AbstractFinancing alternatives for small and medium enterprises in China are discussed in the present study. In particular, we analyze the significant changes and developments in China s “second board” stock market. China s extensive network of regional assets and equity exchanges, which were set up to facilitate private equity transfer, and non-performing loan transactions seem to partially fill the void

  7. Effect of channel catfish stocking rate on yield and water quality in an intensive, mixed suspended-growth production system

    Technology Transfer Automated Retrieval System (TEKTRAN)

    This study was conducted to determine the effect of channel catfish (Ictalurus punctatus) stocking rate on yield and water quality in a mixed suspended-growth production system (bio-floc) with zero water exchange. Channel catfish (National Warmwater Aquaculture Center 103 strain; average weight = 13...

  8. Measuring information interactions on the ordinal pattern of stock time series

    NASA Astrophysics Data System (ADS)

    Zhao, Xiaojun; Shang, Pengjian; Wang, Jing

    2013-02-01

    The interactions among time series as individual components of complex systems can be quantified by measuring to what extent they exchange information among each other. In many applications, one focuses not on the original series but on its ordinal pattern. In such cases, trivial noises appear more likely to be filtered and the abrupt influence of extreme values can be weakened. Cross-sample entropy and inner composition alignment have been introduced as prominent methods to estimate the information interactions of complex systems. In this paper, we modify both methods to detect the interactions among the ordinal pattern of stock return and volatility series, and we try to uncover the information exchanges across sectors in Chinese stock markets.

  9. 12 CFR 7.2023 - Reverse stock splits.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ...2010-01-01 2010-01-01 false Reverse stock splits. 7.2023 Section 7...OPERATIONS Corporate Practices § 7.2023 Reverse stock splits. (a) Authority to engage in reverse stock splits. A national bank may...

  10. 12 CFR 7.2023 - Reverse stock splits.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ...2011-01-01 2011-01-01 false Reverse stock splits. 7.2023 Section 7...OPERATIONS Corporate Practices § 7.2023 Reverse stock splits. (a) Authority to engage in reverse stock splits. A national bank may...

  11. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ...2010-04-01 2010-04-01 false What is current assisted stock? 1000.312 Section 1000...ACTIVITIES Allocation Formula § 1000.312 What is current assisted stock? Current assisted stock consists of housing units owned...

  12. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ...2011-04-01 2011-04-01 false What is current assisted stock? 1000.312 Section 1000...ACTIVITIES Allocation Formula § 1000.312 What is current assisted stock? Current assisted stock consists of housing units owned...

  13. Heat exchanger

    DOEpatents

    Brackenbury, P.J.

    1983-12-08

    A heat exchanger comparising a shell attached at its open end to one side of a tube sheet and a detachable head connected to the other side of said tube sheet. The head is divided into a first and second chamber in fluid communication with a nozzle inlet and nozzle outlet, respectively, formed in said tube sheet. A tube bundle is mounted within said shell and is provided with inlets and outlets formed in said tube sheet in communication with said first and second chambers, respectively.

  14. Agriculture on Exchange InternationalExchangeProgram

    E-print Network

    Viglas, Anastasios

    Agriculture on Exchange InternationalExchangeProgram Students enrolled in courses offered through the Faculty of Agriculture and Environment are welcome to apply for exchange. However, to ensure that you Academic Adviser before submitting an exchange application. Undergraduate Agriculture students normally go

  15. Taiwan's venomous snakebite: epidemiological, evolution and geographic differences.

    PubMed

    Hung, Dong-Zong

    2004-02-01

    Located at the juncture of tropical and subtropical regions, Taiwan has a warm and humid climate with abundant precipitation and food, which coupled with the island's diverse vegetation and landscape, makes it a suitable environment for many snake species. Among these, Naja atra, Bungarus multicinctus, Deinagkistrodon acutus, Trimeresurus mucrosquamatus, Trimeresurus stejnegeri, Daboia russelii siamensis are the 6 principal venomous species, and have caused significant injuries and death over the years. The natural environment of Taiwan has changed tremendously in the last 20-30 years, which is likely to have affected the number and distribution of venomous snakes, thus indirectly affecting incidence of snakebite. A retrospective analysis of 286 snakebite cases at a medical center in central Taiwan analyzed the snakebite-related epidemiological data in the past 30 years. The results showed that the bite rates of various venomous snakes vary geographically, which is related to the overlapping of the human living environment and snakes' habitat. In Taiwan, T. mucrosquamatus and T. stejnegeri bites are most common. Bites by Deinagkistrodon acutus and Daboia russelii siamensis generally occur in the south and east parts of the island and attacks by Naja atra are most common in central Taiwan. Aggressive antivenom treatment can reduce snakebite mortality rate, but for Bungarus multicinctus bites, maintaining the patient's airway and supporting their ventilation is vital to reducing mortality rate in addition to antivenom treatment. PMID:14964809

  16. Burden experienced by community health volunteers in Taiwan: a survey

    PubMed Central

    2013-01-01

    Background Volunteers in Taiwan complement the delivery of health services by paid health professionals. However, in doing so, community health volunteers experience burdens associated with their activities. The reasons for these burdens and degree to which they are experienced are explored in this paper. Our study adds to international research regarding the burden experienced by volunteers. This project is the first to assess how community health volunteers in Taiwan experience burden. Methods The 20 item Burden on Community Health Volunteer (BCHV) instrument, specifically designed for this project, was administered to 435 volunteers attached to Community Health Promotion Development Centres in northern Taiwan. Results The overall burden experienced by volunteers is relatively low. However, a multivariate adjusted regression analysis revealed significant differences in volunteer burden depending on the number of people each volunteer served on average per week, as well as the volunteer’s marital status and their perceptions about personal health. Volunteers who served many people and who perceived their own health as poor experienced a higher level of burden. Those who were a widow or a widower felt less burdened than others. Conclusions The results of the study identify areas where burden is high and where strategies can be developed to reduce the level of burden experienced by community health volunteers in Taiwan. Community health volunteers in Taiwan complement the role of nurses and other health care providers so their retention is important to ongoing service delivery. PMID:23687966

  17. Stock option compensation and equity values

    Microsoft Academic Search

    Panu Kalmi

    2006-01-01

    I present a model where increasing employee participation in a stock option scheme leads to higher performance but with a cost to shareholders. I show that firms with higher market values per employee are more likely to have an option scheme and they offer stock options to a broader group of employees. The model yields empirical predictions that are consistent

  18. Genetic Stock Identification of Russian Honey Bees

    Technology Transfer Automated Retrieval System (TEKTRAN)

    A genetic stock certification assay was developed to distinguish Russian honey bees from other European stocks that are commercially produced in the United States. A total of 11 microsatellite and 5 SNP loci were used. Loci were selected for relatively high levels of homogeneity within each group an...

  19. Trading With a Stock Chart Heuristic

    Microsoft Academic Search

    William Leigh; Cheryl J. Frohlich; Steven Hornik; Russell L. Purvis; Tom L. Roberts

    2008-01-01

    Abstract—The efficient market hypothesis (EMH) is a cor- nerstone of financial economics. The EMH asserts that security prices fully reflect all available information and that the stock market prices securities at their fair values. Therefore, investors cannot consistently “beat the market” because stocks reside in perpetual equilibrium, making research efforts futile. This flies in the face of the conventional nonacademic

  20. Noise trading and stock market volatility

    Microsoft Academic Search

    Rahul Verma; Priti Verma

    2007-01-01

    We investigate the relative effects of fundamental and noise trading on the formation of conditional volatility. We find significant positive (negative) effects of investor sentiments on stock returns (volatilities) for both individual and institutional investors. There are greater positive effects of rational sentiments on stock returns than irrational sentiments. Conversely, there are significant (insignificant) negative effects of irrational (rational) sentiments