Science.gov

Sample records for dechets radioactifs stockes

  1. Can stock enhancement enhance stocks?

    NASA Astrophysics Data System (ADS)

    Støttrup, J. G.; Sparrevohn, C. R.

    2007-02-01

    Successful stock enhancement or restocking requires a thorough understanding of the ecological processes that provide a potential for stocking within different ecosystems, i.e. determine which factors define the potential for stocking, such as population dynamics, economic cost-benefits, fisheries management and socio-economic impacts. Stocking is not simply a question of aquaculture logistics (i.e. the ability to produce a sufficient number of fry relative to the magnitude of the natural recruitment within the system), nor should it be a new outlet for aquaculture production. Quantitative targets should be set and the expected performance of the stocking tested. Potential loopholes, such as post-release mortality and habitat requirements related to the release, should be examined and resolved. If properly managed, stocking may lead to an increase in population, contribute to the local fishery and/or lead to an increase in the spawning stock biomass. The criteria for stocking are discussed in this paper using examples from flatfish and cod stocking programmes within specific ecosystems.

  2. 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)

  3. NOCHAR Polymers: An Aqueous and Organic Liquid Solidification Process for Cadarache LOR (Liquides Organiques Radioactifs) - 13195

    SciTech Connect

    Vaudey, Claire-Emilie; Renou, Sebastien; Porco, Julien; Kelley, Dennis; Cochaud, Chantal

    2013-07-01

    To handle the Very Low Level Waste (VLLW) and the Low Level Waste (LLW) in France, two options can be considered: the incineration at CENTRACO facility and the disposal facility on ANDRA sites. The waste acceptance in these radwaste routes is dependent upon the adequacy between the waste characteristics (physical chemistry and radiological) and the radwaste route specifications. If the waste characteristics are incompatible with the radwaste route specifications (presence of significant quantities of chlorine, fluorine, organic component etc or/and high activity limits), it is necessary to find an alternative solution that consists of a waste pre-treatment process. In the context of the problematic Cadarache LOR (Liquides Organiques Radioactifs) waste streams, two radioactive scintillation cocktails have to be treated. The first one is composed of organic liquids at 13.1 % (diphenyloxazol, mesitylene, TBP, xylene) and water at 86.9 %. The second one is composed of TBP at 8.6 % and water at 91.4 %. They contain chlorine, fluorine and sulphate and have got alpha/beta/gamma spectra with mass activities equal to some kBq.g{sup -1}. Therefore, tritium is present and creates the second problematic waste stream. As a consequence, in order for disposal acceptance at the ANDRA site, it is necessary to pre-treat the waste. The NOCHAR polymers as an aqueous and organic liquid solidification process seem to be an adequate solution. Indeed, these polymers constitute an important variety of products applied to the treatment of radioactive aqueous and organic liquids (solvent, oil, solvent/oil mixing etc) and sludge through a mechanical and chemical solidification process. For Cadarache LOR, N910 and N960 respectively dedicated to the organic and aqueous liquids solidification are considered. With the N910, the organic waste solidification occurs in two steps. As the organic liquid travels moves through the polymer strands, the strands swell and immobilise the liquid. Then as the

  4. 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.

  5. Trading network predicts stock price.

    PubMed

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

    2014-01-16

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

  6. 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…

  7. Stock Market Savvy.

    ERIC Educational Resources Information Center

    Okula, Susan

    2003-01-01

    This issue of Keying In, the newsletter of the National Business Education Association, focuses upon teaching young adults how to develop both investment strategies and an understanding of the stock market. The first article, "Sound Investing Know-How: A Must for Today's Young Adults," describes how young adults can plan for their own financial…

  8. Comparable Stocks, Boundedly Rational Stock Markets and IPO Entry Rates

    PubMed Central

    Chok, Jay; Qian, Jifeng

    2013-01-01

    In this study, we examine how initial public offerings (IPO) entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO) entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses. PMID:23690924

  9. Evolutionary model of stock markets

    NASA Astrophysics Data System (ADS)

    Kaldasch, Joachim

    2014-12-01

    The paper presents an evolutionary economic model for the price evolution of stocks. Treating a stock market as a self-organized system governed by a fast purchase process and slow variations of demand and supply the model suggests that the short term price distribution has the form a logistic (Laplace) distribution. The long term return can be described by Laplace-Gaussian mixture distributions. The long term mean price evolution is governed by a Walrus equation, which can be transformed into a replicator equation. This allows quantifying the evolutionary price competition between stocks. The theory suggests that stock prices scaled by the price over all stocks can be used to investigate long-term trends in a Fisher-Pry plot. The price competition that follows from the model is illustrated by examining the empirical long-term price trends of two stocks.

  10. 12 CFR 925.20 - Stock purchase.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Stock purchase. 925.20 Section 925.20 Banks and... BANKS Stock Requirements § 925.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase... outstanding advances. (b) Timing of minimum stock purchase. (1) Within 60 calendar days after an...

  11. 12 CFR 925.23 - Excess stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Excess stock. 925.23 Section 925.23 Banks and... BANKS Stock Requirements § 925.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of this section, a member may purchase excess stock as long as the purchase is approved by...

  12. 12 CFR 1263.20 - Stock purchase.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Stock purchase. 1263.20 Section 1263.20 Banks... Requirements § 1263.20 Stock purchase. (a) Minimum stock purchase. Each member shall purchase stock in the Bank... Act) shall purchase stock in the Bank in an amount equal to the greater of: (1) $500; (2) 1 percent...

  13. Scaling analysis of stock markets.

    PubMed

    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.

  14. Scaling analysis of stock markets.

    PubMed

    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. PMID:24985421

  15. 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.

  16. 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…

  17. Metal stocks and sustainability

    PubMed Central

    Gordon, R. B.; Bertram, M.; Graedel, T. E.

    2006-01-01

    The relative proportions of metal residing in ore in the lithosphere, in use in products providing services, and in waste deposits measure our progress from exclusive use of virgin ore toward full dependence on sustained use of recycled metal. In the U.S. at present, the copper contents of these three repositories are roughly equivalent, but metal in service continues to increase. Providing today's developed-country level of services for copper worldwide (as well as for zinc and, perhaps, platinum) would appear to require conversion of essentially all of the ore in the lithosphere to stock-in-use plus near-complete recycling of the metals from that point forward. PMID:16432205

  18. Metal stocks and sustainability.

    PubMed

    Gordon, R B; Bertram, M; Graedel, T E

    2006-01-31

    The relative proportions of metal residing in ore in the lithosphere, in use in products providing services, and in waste deposits measure our progress from exclusive use of virgin ore toward full dependence on sustained use of recycled metal. In the U.S. at present, the copper contents of these three repositories are roughly equivalent, but metal in service continues to increase. Providing today's developed-country level of services for copper worldwide (as well as for zinc and, perhaps, platinum) would appear to require conversion of essentially all of the ore in the lithosphere to stock-in-use plus near-complete recycling of the metals from that point forward. PMID:16432205

  19. Distribution characteristics of stock market liquidity

    NASA Astrophysics Data System (ADS)

    Luo, Jiawen; Chen, Langnan; Liu, Hao

    2013-12-01

    We examine the distribution characteristics of stock market liquidity by employing the generalized additive models for location, scale and shape (GAMLSS) model and three-minute frequency data from Chinese stock markets. We find that the BCPE distribution within the GAMLSS framework fits the distributions of stock market liquidity well with the diagnosis test. We also find that the stock market index exhibits a significant impact on the distributions of stock market liquidity. The stock market liquidity usually exhibits a positive skewness, but a normal distribution at a low level of stock market index and a high-peak and fat-tail shape at a high level of stock market index.

  20. 12 CFR 725.5 - Capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  1. Stocks low, marketers confident

    SciTech Connect

    Mantho, M.

    1997-01-01

    This has been a nerve wracking season as we looked at inadequate inventory spurring prices ever upward. We have watched the American Petroleum Association`s figures on refiner stocks with considerable dismay as they consistantly fell behind year ago inventory. The anxiety extended to how much oil was in marketers` bulkplants and finally in customer tanks. And so, we asked our reporting panel to help us get a fix on how much oil was available for our customers. We asked the questions in early November and so all our figures are for that month. First we asked the capacity of their bulk tanks. And then how many gallons they had on hand November 1, 1996 and the same date of 1995. From these figures, we were able to get estimates of oil inventories. Marketers bulk tanks were 47.5% filled on November 1 which meant that there was on hand at this level, 36 gallons of heating oil for each customer. At that point in the season, customer tanks were 58% filled which translated into 218 gallons.

  2. Persistent collective trend in stock markets

    NASA Astrophysics Data System (ADS)

    Balogh, Emeric; Simonsen, Ingve; Nagy, Bálint Zs.; Néda, Zoltán

    2010-12-01

    Empirical evidence is given for a significant difference in the collective trend of the share prices during the stock index rising and falling periods. Data on the Dow Jones Industrial Average and its stock components are studied between 1991 and 2008. Pearson-type correlations are computed between the stocks and averaged over stock pairs and time. The results indicate a general trend: whenever the stock index is falling the stock prices are changing in a more correlated manner than in case the stock index is ascending. A thorough statistical analysis of the data shows that the observed difference is significant, suggesting a constant fear factor among stockholders.

  3. Do Earthquakes Shake Stock Markets?

    PubMed

    Ferreira, Susana; Karali, Berna

    2015-01-01

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

  4. 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

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

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Stock for stock of the same corporation. 1.1036-1 Section 1.1036-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Common Nontaxable Exchanges § 1.1036-1 Stock for stock of the same corporation. (a) Section...

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

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES Common Nontaxable Exchanges § 1.1036-1 Stock for stock of the same corporation. (a) Section 1036 permits the exchange, without the recognition of gain or loss, of common...

  7. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF... § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The exchange, without...

  8. 27 CFR 24.217 - Vinegar stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2014-04-01 2014-04-01 false Vinegar stock. 24.217... OF THE TREASURY ALCOHOL WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar... commercial standards for the production of vinegar. Vinegar stock may be made only by the addition of...

  9. 27 CFR 24.217 - Vinegar stock.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2011-04-01 2011-04-01 false Vinegar stock. 24.217... OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar... commercial standards for the production of vinegar. Vinegar stock may be made only by the addition of...

  10. 27 CFR 24.217 - Vinegar stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Vinegar stock. 24.217... OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar... commercial standards for the production of vinegar. Vinegar stock may be made only by the addition of...

  11. 27 CFR 24.217 - Vinegar stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2013-04-01 2013-04-01 false Vinegar stock. 24.217... OF THE TREASURY ALCOHOL WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar... commercial standards for the production of vinegar. Vinegar stock may be made only by the addition of...

  12. 27 CFR 24.217 - Vinegar stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2012-04-01 2012-04-01 false Vinegar stock. 24.217... OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar... commercial standards for the production of vinegar. Vinegar stock may be made only by the addition of...

  13. 25 CFR 173.6 - Stock grazing.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Stock grazing. 173.6 Section 173.6 Indians BUREAU OF... WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees may graze upon lands covered by such permits, such stock as may be required in connection with the...

  14. Online Stock Market Games for High Schools.

    ERIC Educational Resources Information Center

    Lopus, Jane; Placone, Dennis

    2002-01-01

    Identifies a Web site providing information about stock market simulations for high school economics courses. Divides the information into two tables: (1) the structure of online stock market games; and (2) the determination of portfolio values of online stock market games. States that changes and updates are available at Web sites. (JEH)

  15. [Enzymatic utilization of cotton soap stock].

    PubMed

    Davranov, K D; Guliamova, K A; Alimova, B Kh; Turapova, N M

    2000-01-01

    Enzymatic hydrolysis of neutral fat of cotton oil soap stock with a nonspecific lipase produced by Oospora lactis F-500 was designed. The culture liquid and a preparation of enzyme obtained by precipitation with isopropanol from a filtrate of the culture liquid were used. Utilization of cotton oil soap stock as the only source of carbon during cultivation of the fungus was studied. The rate of hydrolysis of soap stock fat strongly depended on the way of biological conversion of cotton oil soap stock. The most effective utilization was observed during cultivation of the fungus in the medium containing soap stock.

  16. What Does Stock Ownership Breadth Measure?*

    PubMed Central

    Choi, James J.; Jin, Li; Yan, Hongjun

    2013-01-01

    Using holdings data on a representative sample of all Shanghai Stock Exchange investors, we show that increases in ownership breadth (the fraction of market participants who own a stock) predict low returns: highest change quintile stocks underperform lowest quintile stocks by 23% per year. Small retail investors drive this result. Retail ownership breadth increases appear to be correlated with overpricing. Among institutional investors, however, the opposite holds: Stocks in the top decile of wealth-weighted institutional breadth change outperform the bottom decile by 8% per year, consistent with prior work that interprets breadth as a measure of short-sales constraints. PMID:24764801

  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. 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.

  19. Taxonomy of stock market indices

    NASA Astrophysics Data System (ADS)

    Bonanno, Giovanni; Vandewalle, Nicolas; Mantegna, Rosario N.

    2000-12-01

    We investigate sets of financial nonredundant and nonsynchronously recorded time series. The sets are composed by a number of stock market indices located all over the world in five continents. By properly selecting the time horizon of returns and by using a reference currency we find a meaningful taxonomy. The detection of such a taxonomy proves that interpretable information can be stored in a set of nonsynchronously recorded time series.

  20. Tick size and stock returns

    NASA Astrophysics Data System (ADS)

    Onnela, Jukka-Pekka; Töyli, Juuso; Kaski, Kimmo

    2009-02-01

    Tick size is an important aspect of the micro-structural level organization of financial markets. It is the smallest institutionally allowed price increment, has a direct bearing on the bid-ask spread, influences the strategy of trading order placement in electronic markets, affects the price formation mechanism, and appears to be related to the long-term memory of volatility clustering. In this paper we investigate the impact of tick size on stock returns. We start with a simple simulation to demonstrate how continuous returns become distorted after confining the price to a discrete grid governed by the tick size. We then move on to a novel experimental set-up that combines decimalization pilot programs and cross-listed stocks in New York and Toronto. This allows us to observe a set of stocks traded simultaneously under two different ticks while holding all security-specific characteristics fixed. We then study the normality of the return distributions and carry out fits to the chosen distribution models. Our empirical findings are somewhat mixed and in some cases appear to challenge the simulation results.

  1. The past and future of food stocks

    NASA Astrophysics Data System (ADS)

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

    2016-03-01

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

  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. Material Stock Demographics: Cars in Great Britain.

    PubMed

    Cabrera Serrenho, André; Allwood, Julian M

    2016-03-15

    Recent literature on material flow analysis has been focused on quantitative characterization of past material flows. Fewer analyses exist on past and prospective quantification of stocks of materials in-use. Some of these analyses explore the composition of products' stocks, but a focus on the characterization of material stocks and its relation with service delivery is often neglected. We propose the use of the methods of human demography to characterize material stocks, defined herein as stock demographics, exploring the insights that this approach could provide for the sustainable management of materials. We exemplify an application of stock demographics by characterizing the composition and service delivery of iron, steel, and aluminum stocks of cars in Great Britain, 2002-2012. The results show that in this period the stock has become heavier, it is traveling less, and it is idle for more time. The visualization of material stocks' dynamics demonstrates the pace of product replacement as a function of its usefulness and enables the formulation of policy interventions and the exploration of future trends.

  4. 41 CFR 109-27.5003 - Stock control.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Stock control. 109-27... control. (a) Stock control shall be maintained on the basis of stock record accounts of inventories on... property under stock control for greater than 90 days shall be maintained in stock record accounts....

  5. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... marketable stock means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as... section 1298(a), stock in any passive foreign investment company, that stock will be treated as marketable... owns directly or indirectly, as defined in section 1298(a), stock in any passive foreign...

  6. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... marketable stock means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as... section 1298(a), stock in any passive foreign investment company, that stock will be treated as marketable... owns directly or indirectly, as defined in section 1298(a), stock in any passive foreign...

  7. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... marketable stock means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as... section 1298(a), stock in any passive foreign investment company, that stock will be treated as marketable... owns directly or indirectly, as defined in section 1298(a), stock in any passive foreign...

  8. The Stock Market Game: A Simulation of Stock Market Trading. Grades 5-8.

    ERIC Educational Resources Information Center

    Draze, Dianne

    This guide to a unit on a simulation game about the stock market contains an instructional text and two separate simulations. Through directed lessons and reproducible worksheets, the unit teaches students about business ownership, stock exchanges, benchmarks, commissions, why prices change, the logistics of buying and selling stocks, and how to…

  9. 12 CFR 152.18 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... institution” shall have the meaning set forth at 12 CFR 152.13(b). An application for conversion filed under... intangible, including choses in action, rights, and credits) of the former stock form depository institution... occurs. In effect, the Federal stock association is the same as the former stock form...

  10. 12 CFR 152.18 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... institution” shall have the meaning set forth at 12 CFR 152.13(b). An application for conversion filed under... intangible, including choses in action, rights, and credits) of the former stock form depository institution... occurs. In effect, the Federal stock association is the same as the former stock form...

  11. 78 FR 17066 - Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-19

    ... Revenue Service 26 CFR Part 1 RIN 1545-BJ74 Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in Outbound Asset Reorganizations AGENCY: Internal Revenue Service (IRS... between asset transfers and indirect stock transfers for certain outbound asset reorganizations....

  12. 76 FR 7236 - Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Boston Stock Exchange...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-02-09

    ... Release No. 59858 (May 4, 2009), 74 FR 22191 (May 12, 2009) (SR-NASDAQ-2009-039). Prior to the closing of... COMMISSION Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Boston Stock Exchange... is hereby given that on January 19, 2011, Stock Clearing Corporation of Philadelphia, Inc....

  13. 12 CFR 614.4335 - Borrower stock requirements.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... institution repurchases a loan on which the stock has been retired, the borrower shall be required to repurchase stock in the amount of the minimum stock purchase requirement. (2) Loans sold into a...

  14. Does Stock Market Performance Influence Retirement Intentions?

    ERIC Educational Resources Information Center

    Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj

    2012-01-01

    Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the…

  15. A Tale of Two Stock Markets

    ERIC Educational Resources Information Center

    Armstrong, Michelle Hine; Piercey, Victor I.; Greene-Hunley, Stephanie

    2015-01-01

    This article describes two different projects using the stock market as a context for learning. For both projects, students "bought" shares in individual companies, tracked stock prices for a period of time, and then "sold" their shares at a gain or loss. The projects are adaptable for students in late elementary school through…

  16. Stock market stability: Diffusion entropy analysis

    NASA Astrophysics Data System (ADS)

    Li, Shouwei; Zhuang, Yangyang; He, Jianmin

    2016-05-01

    In this article, we propose a method to analyze the stock market stability based on diffusion entropy, and conduct an empirical analysis of Dow Jones Industrial Average. Empirical results show that this method can reflect the volatility and extreme cases of the stock market.

  17. Distinguishing manipulated stocks via trading network analysis

    NASA Astrophysics Data System (ADS)

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

    2011-10-01

    Manipulation is an important issue for both developed and emerging stock markets. For the study of manipulation, it is critical to analyze investor behavior in the stock market. In this paper, an analysis of the full transaction records of over a hundred stocks in a one-year period is conducted. For each stock, a trading network is constructed to characterize the relations among its investors. In trading networks, nodes represent investors and a directed link connects a stock seller to a buyer with the total trade size as the weight of the link, and the node strength is the sum of all edge weights of a node. For all these trading networks, we find that the node degree and node strength both have tails following a power-law distribution. Compared with non-manipulated stocks, manipulated stocks have a high lower bound of the power-law tail, a high average degree of the trading network and a low correlation between the price return and the seller-buyer ratio. These findings may help us to detect manipulated stocks.

  18. 47 CFR 32.4510 - Capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock....

  19. 25 CFR 173.6 - Stock grazing.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 25 Indians 1 2012-04-01 2011-04-01 true Stock grazing. 173.6 Section 173.6 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER CONCESSIONS, PERMITS AND LEASES ON LANDS WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees...

  20. 25 CFR 173.6 - Stock grazing.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 25 Indians 1 2014-04-01 2014-04-01 false Stock grazing. 173.6 Section 173.6 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER CONCESSIONS, PERMITS AND LEASES ON LANDS WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees...

  1. 25 CFR 173.6 - Stock grazing.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 25 Indians 1 2013-04-01 2013-04-01 false Stock grazing. 173.6 Section 173.6 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER CONCESSIONS, PERMITS AND LEASES ON LANDS WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees...

  2. 25 CFR 173.6 - Stock grazing.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 25 Indians 1 2011-04-01 2011-04-01 false Stock grazing. 173.6 Section 173.6 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER CONCESSIONS, PERMITS AND LEASES ON LANDS WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees...

  3. Recurrence quantification analysis of global stock markets

    NASA Astrophysics Data System (ADS)

    Bastos, João A.; Caiado, Jorge

    2011-04-01

    This study investigates the presence of deterministic dependencies in international stock markets using recurrence plots and recurrence quantification analysis (RQA). The results are based on a large set of free float-adjusted market capitalization stock indices, covering a period of 15 years. The statistical tests suggest that the dynamics of stock prices in emerging markets is characterized by higher values of RQA measures when compared to their developed counterparts. The behavior of stock markets during critical financial events, such as the burst of the technology bubble, the Asian currency crisis, and the recent subprime mortgage crisis, is analyzed by performing RQA in sliding windows. It is shown that during these events stock markets exhibit a distinctive behavior that is characterized by temporary decreases in the fraction of recurrence points contained in diagonal and vertical structures.

  4. A quantum mechanical model for the relationship between stock price and stock ownership

    NASA Astrophysics Data System (ADS)

    Cotfas, Liviu-Adrian

    2012-11-01

    The trade of a fixed stock can be regarded as the basic process that measures its momentary price. The stock price is exactly known only at the time of sale when the stock is between traders, that is, only in the case when the owner is unknown. We show that the stock price can be better described by a function indicating at any moment of time the probabilities for the possible values of price if a transaction takes place. This more general description contains partial information on the stock price, but it also contains partial information on the stock owner. By following the analogy with quantum mechanics, we assume that the time evolution of the function describing the stock price can be described by a Schrödinger type equation.

  5. A quantum mechanical model for the relationship between stock price and stock ownership

    SciTech Connect

    Cotfas, Liviu-Adrian

    2012-11-01

    The trade of a fixed stock can be regarded as the basic process that measures its momentary price. The stock price is exactly known only at the time of sale when the stock is between traders, that is, only in the case when the owner is unknown. We show that the stock price can be better described by a function indicating at any moment of time the probabilities for the possible values of price if a transaction takes place. This more general description contains partial information on the stock price, but it also contains partial information on the stock owner. By following the analogy with quantum mechanics, we assume that the time evolution of the function describing the stock price can be described by a Schroedinger type equation.

  6. The dependence of Islamic and conventional stocks: A copula approach

    NASA Astrophysics Data System (ADS)

    Razak, Ruzanna Ab; Ismail, Noriszura

    2015-09-01

    Recent studies have found that Islamic stocks are dependent on conventional stocks and they appear to be more risky. In Asia, particularly in Islamic countries, research on dependence involving Islamic and non-Islamic stock markets is limited. The objective of this study is to investigate the dependence between financial times stock exchange Hijrah Shariah index and conventional stocks (EMAS and KLCI indices). Using the copula approach and a time series model for each marginal distribution function, the copula parameters were estimated. The Elliptical copula was selected to present the dependence structure of each pairing of the Islamic stock and conventional stock. Specifically, the Islamic versus conventional stocks (Shariah-EMAS and Shariah-KLCI) had lower dependence compared to conventional versus conventional stocks (EMAS-KLCI). These findings suggest that the occurrence of shocks in a conventional stock will not have strong impact on the Islamic stock.

  7. Asymmetric conditional volatility in international stock markets

    NASA Astrophysics Data System (ADS)

    Ferreira, Nuno B.; Menezes, Rui; Mendes, Diana A.

    2007-08-01

    Recent studies show that a negative shock in stock prices will generate more volatility than a positive shock of similar magnitude. The aim of this paper is to appraise the hypothesis under which the conditional mean and the conditional variance of stock returns are asymmetric functions of past information. We compare the results for the Portuguese Stock Market Index PSI 20 with six other Stock Market Indices, namely the SP 500, FTSE 100, DAX 30, CAC 40, ASE 20, and IBEX 35. In order to assess asymmetric volatility we use autoregressive conditional heteroskedasticity specifications known as TARCH and EGARCH. We also test for asymmetry after controlling for the effect of macroeconomic factors on stock market returns using TAR and M-TAR specifications within a VAR framework. Our results show that the conditional variance is an asymmetric function of past innovations raising proportionately more during market declines, a phenomenon known as the leverage effect. However, when we control for the effect of changes in macroeconomic variables, we find no significant evidence of asymmetric behaviour of the stock market returns. There are some signs that the Portuguese Stock Market tends to show somewhat less market efficiency than other markets since the effect of the shocks appear to take a longer time to dissipate.

  8. Level crossing analysis of the stock markets

    NASA Astrophysics Data System (ADS)

    Jafari, G. R.; Movahed, M. S.; Fazeli, S. M.; Rahimi Tabar, M. Reza; Masoudi, S. F.

    2006-06-01

    We investigate the average frequency of positive slope να+ crossing for the returns of market prices. The method is based on stochastic processes in which no scaling feature is explicitly required. Using this method we define a new quantity to quantify the stage of development and activity of stock exchanges. We compare the Tehran and western stock markets and show that some, such as the Tehran (TEPIX) and New Zealand (NZX) stock exchanges, are emerging, and also that TEPIX is a non-active market and is financially motivated to absorb capital.

  9. 26 CFR 1.305-5 - Distributions on preferred stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... is treated as a distribution of property to which section 301 applies unless the distribution is made... prevent a class of stock from being treated as preferred stock. Thus, stock which enjoys a priority as to... treated as preferred stock for purposes of section 305 if, taking into account all the facts...

  10. 47 CFR 65.303 - Cost of preferred stock.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Cost of preferred stock. 65.303 Section 65.303... stock. The formula for determining the cost of preferred stock is: ER01JN95.001 Where: “Total Annual Preferred Dividends” is the total dividends on preferred stock for the most recent two years for all...

  11. Another Look at the Volatility of Stock Prices

    ERIC Educational Resources Information Center

    Maruszewski, Richard F., Jr.

    2007-01-01

    Investors are interested in the volatility of a stock for various reasons. One investor may desire to purchase a low volatility stock for peace of mind. Another may be interested in a high volatility stock in order to have the opportunity to buy low and sell high as the price of the stock oscillates. This author had the fortunate timing of reading…

  12. 26 CFR 1.305-1 - Stock dividends.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Stock dividends. 1.305-1 Section 1.305-1...) INCOME TAXES Effects on Recipients § 1.305-1 Stock dividends. (a) In general. Under section 305, a distribution made by a corporation to its shareholders in its stock or in rights to acquire its stock is...

  13. 41 CFR 101-27.406 - Disposition of stock.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Disposition of stock. 101...-Elimination of Items From Inventory § 101-27.406 Disposition of stock. Stocks of slow-moving items which are... this section, shall be taken, as necessary, to remove stocks of inactive items from inventory....

  14. 26 CFR 1.306-3 - Section 306 stock defined.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Section 306 stock defined. 1.306-3 Section 1.306... (CONTINUED) INCOME TAXES Effects on Recipients § 1.306-3 Section 306 stock defined. (a) For the purpose of subchapter C, chapter 1 of the code, the term section 306 stock means stock which meets the requirements...

  15. 12 CFR 925.21 - Issuance and form of stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance and form of stock. 925.21 Section 925... ASSOCIATES MEMBERS OF THE BANKS Stock Requirements § 925.21 Issuance and form of stock. (a) A Bank shall issue to each new member, as of the effective date of membership, stock in the member's name for...

  16. 12 CFR 925.22 - Adjustments in stock holdings.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Adjustments in stock holdings. 925.22 Section... ASSOCIATES MEMBERS OF THE BANKS Stock Requirements § 925.22 Adjustments in stock holdings. (a) Adjustment in general. A Bank may from time to time increase or decrease the amount of stock any member is required...

  17. 26 CFR 1.1296-2 - Definition of marketable stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Definition of marketable stock. 1.1296-2 Section... Definition of marketable stock. (a) General rule. For purposes of section 1296, the term marketable stock means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as defined...

  18. What distinguishes individual stocks from the index?

    NASA Astrophysics Data System (ADS)

    Wagner, F.; Milaković, M.; Alfarano, S.

    2010-01-01

    Stochastic volatility models decompose the time series of financial returns into the product of a volatility factor and an iid noise factor. Assuming a slow dynamic for the volatility factor, we show via nonparametric tests that both the index as well as its individual stocks share a common volatility factor. While the noise component is Gaussian for the index, individual stock returns turn out to require a leptokurtic noise. Thus we propose a two-component model for stocks, given by the sum of Gaussian noise, which reflects market-wide fluctuations, and Laplacian noise, which incorporates firm-specific factors such as firm profitability or growth performance, both of which are known to be Laplacian distributed. In the case of purely Gaussian noise, the chi-squared probability for the density of individual stock returns is typically on the order of 10-20, while it increases to values of O(1) by adding the Laplace component.

  19. Predicting outcomes: Sports and stocks.

    PubMed

    Wood, G

    1992-06-01

    Many gamblers and most fans, players, and coaches offer causal explanations for long runs of good or bad performance in sports and financial analysts are quick to offer explanations for the daily performance of the stock market. The records of professional basketball and baseball teams and the Dow Jones daily closing average for a ten year period were evaluated for trends (streaks). The records of teams were also evaluated to assess whether the record against opponents, the home court or home field advantage, and-for baseball teams-the record of the winning and losing pitcher (excluding the current game) predicted the outcome of individual games. Recent performance is, at best, a very weak predictor of current performance and the three best predictors for baseball (pitching, home field, and record against opponent) together accounted for only 1.7% of the variance in the outcomes of individual games. We overestimate our ability to predict. This overconfidence is likely to play a role in maintaining gambling behaviors. PMID:24241784

  20. Predicting outcomes: Sports and stocks.

    PubMed

    Wood, G

    1992-06-01

    Many gamblers and most fans, players, and coaches offer causal explanations for long runs of good or bad performance in sports and financial analysts are quick to offer explanations for the daily performance of the stock market. The records of professional basketball and baseball teams and the Dow Jones daily closing average for a ten year period were evaluated for trends (streaks). The records of teams were also evaluated to assess whether the record against opponents, the home court or home field advantage, and-for baseball teams-the record of the winning and losing pitcher (excluding the current game) predicted the outcome of individual games. Recent performance is, at best, a very weak predictor of current performance and the three best predictors for baseball (pitching, home field, and record against opponent) together accounted for only 1.7% of the variance in the outcomes of individual games. We overestimate our ability to predict. This overconfidence is likely to play a role in maintaining gambling behaviors.

  1. Wavelet neural networks for stock trading

    NASA Astrophysics Data System (ADS)

    Zheng, Tianxing; Fataliyev, Kamaladdin; Wang, Lipo

    2013-05-01

    This paper explores the application of a wavelet neural network (WNN), whose hidden layer is comprised of neurons with adjustable wavelets as activation functions, to stock prediction. We discuss some basic rationales behind technical analysis, and based on which, inputs of the prediction system are carefully selected. This system is tested on Istanbul Stock Exchange National 100 Index and compared with traditional neural networks. The results show that the WNN can achieve very good prediction accuracy.

  2. 12 CFR 225.103 - Bank holding company acquiring stock by dividends, stock splits or exercise of rights.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... dividends, stock splits or exercise of rights. 225.103 Section 225.103 Banks and Banking FEDERAL RESERVE... holding company acquiring stock by dividends, stock splits or exercise of rights. (a) The Board of... bank stock splits without the Board's prior approval, and whether such a company may exercise,...

  3. 12 CFR 225.103 - Bank holding company acquiring stock by dividends, stock splits or exercise of rights.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... dividends, stock splits or exercise of rights. 225.103 Section 225.103 Banks and Banking FEDERAL RESERVE... § 225.103 Bank holding company acquiring stock by dividends, stock splits or exercise of rights. (a) The... participate in bank stock splits without the Board's prior approval, and whether such a company may...

  4. 12 CFR 225.103 - Bank holding company acquiring stock by dividends, stock splits or exercise of rights.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... dividends, stock splits or exercise of rights. 225.103 Section 225.103 Banks and Banking FEDERAL RESERVE... holding company acquiring stock by dividends, stock splits or exercise of rights. (a) The Board of... bank stock splits without the Board's prior approval, and whether such a company may exercise,...

  5. 12 CFR 225.103 - Bank holding company acquiring stock by dividends, stock splits or exercise of rights.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... dividends, stock splits or exercise of rights. 225.103 Section 225.103 Banks and Banking FEDERAL RESERVE... holding company acquiring stock by dividends, stock splits or exercise of rights. (a) The Board of... bank stock splits without the Board's prior approval, and whether such a company may exercise,...

  6. 12 CFR 225.103 - Bank holding company acquiring stock by dividends, stock splits or exercise of rights.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... dividends, stock splits or exercise of rights. 225.103 Section 225.103 Banks and Banking FEDERAL RESERVE... § 225.103 Bank holding company acquiring stock by dividends, stock splits or exercise of rights. (a) The... participate in bank stock splits without the Board's prior approval, and whether such a company may...

  7. Which stocks are profitable? A network method to investigate the effects of network structure on stock returns

    NASA Astrophysics Data System (ADS)

    Chen, Kun; Luo, Peng; Sun, Bianxia; Wang, Huaiqing

    2015-10-01

    According to asset pricing theory, a stock's expected returns are determined by its exposure to systematic risk. In this paper, we propose a new method for analyzing the interaction effects among industries and stocks on stock returns. We construct a complex network based on correlations of abnormal stock returns and use centrality and modularity, two popular measures in social science, to determine the effect of interconnections on industry and stock returns. Supported by previous studies, our findings indicate that a relationship exists between inter-industry closeness and industry returns and between stock centrality and stock returns. The theoretical and practical contributions of these findings are discussed.

  8. Targeted stock identification using multilocus genotype 'familyprinting'

    USGS Publications Warehouse

    Letcher, B.H.; King, T.L.

    1999-01-01

    We present an approach to stock identification of small, targeted populations that uses multilocus microsatellite genotypes of individual mating adults to uniquely identify first- and second-generation offspring in a mixture. We call the approach 'familyprinting'; unlike DNA fingerprinting where tissue samples of individuals are matched, offspring from various families are assigned to pairs of parents or sets of four grandparents with known genotypes. The basic unit of identification is the family, but families can be nested within a variety of stock units ranging from naturally reproducing groups of fish in a small tributary or pond from which mating adults can be sampled to large or small collections of families produced in hatcheries and stocked in specific locations. We show that, with as few as seven alleles per locus using four loci without error, first-generation offspring can be uniquely assigned to the correct family. For second-generation applications in a hatchery more alleles per locus (10) and loci (10) are required for correct assignment of all offspring to the correct set of grandparents. Using microsatellite DNA variation from an Atlantic salmon (Salmo solar) restoration river (Connecticut River, USA), we also show that this population contains sufficient genetic diversity in sea-run returns for 100% correct first, generation assignment and 97% correct second-generation assignment using 14 loci. We are currently using first- and second-generation familyprinting in this population with the ultimate goal of identifying stocking tributary. In addition to within-river familyprinting, there also appears to be sufficient genetic diversity within and between Atlantic salmon populations for identification of 'familyprinted' fish in a mixture of multiple populations. We also suggest that second-generation familyprinting with multiple populations may also provide a tool for examining stock structure. Familyprinting with microsatellite DNA markers is a viable

  9. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... Federal Home Loan Bank, may convert to a Federal stock association, provided that the depository institution, at the time of the conversion, has deposits insured by the Federal Deposit Insurance Corporation... Deposit Insurance Act. The resulting Federal stock association must conform within the time prescribed...

  10. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... Federal Home Loan Bank, may convert to a Federal stock association, provided that the depository institution, at the time of the conversion, has deposits insured by the Federal Deposit Insurance Corporation... Deposit Insurance Act. The resulting Federal stock association must conform within the time prescribed...

  11. 12 CFR 152.18 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... OCC, any stock depository institution that is, or is eligible to become, a member of a Federal Home... time of the conversion, has deposits insured by the Federal Deposit Insurance Corporation, and provided.... The resulting Federal stock association must conform within the time prescribed by the OCC to...

  12. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... acquisition of rights, such as shareholder or pre-emptive rights, pursuant to a pro rata grant to all holders..., and pro rata rights. 240.16a-9 Section 240.16a-9 Commodity and Securities Exchanges SECURITIES AND... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The...

  13. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ..., the term “depository institution” shall have the meaning set forth at 12 CFR 552.13(b). An application... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Conversion from stock form depository institution to Federal stock association. 552.2-6 Section 552.2-6 Banks and Banking OFFICE OF...

  14. 12 CFR 950.11 - Capital stock requirements; unilateral redemption of excess stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Capital stock requirements; unilateral redemption of excess stock. 950.11 Section 950.11 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.11 Capital...

  15. Changing recruitment capacity in global fish stocks.

    PubMed

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

    2016-01-01

    Marine fish and invertebrates are shifting their regional and global distributions in response to climate change, but it is unclear whether their productivity is being affected as well. Here we tested for time-varying trends in biological productivity parameters across 262 fish stocks of 127 species in 39 large marine ecosystems and high-seas areas (hereafter LMEs). This global meta-analysis revealed widespread changes in the relationship between spawning stock size and the production of juvenile offspring (recruitment), suggesting fundamental biological change in fish stock productivity at early life stages. Across regions, we estimate that average recruitment capacity has declined at a rate approximately equal to 3% of the historical maximum per decade. However, we observed large variability among stocks and regions; for example, highly negative trends in the North Atlantic contrast with more neutral patterns in the North Pacific. The extent of biological change in each LME was significantly related to observed changes in phytoplankton chlorophyll concentration and the intensity of historical overfishing in that ecosystem. We conclude that both environmental changes and chronic overfishing have already affected the productive capacity of many stocks at the recruitment stage of the life cycle. These results provide a baseline for ecosystem-based fisheries management and may help adjust expectations for future food production from the oceans. PMID:26668368

  16. Immunological discrimination of Atlantic striped bass stocks

    USGS Publications Warehouse

    Schill, W.B.; Dorazio, R.M.

    1990-01-01

    Stocks of Atlantic striped bass Morone saxatilis that were assumed to be geographically isolated during spawning showed strong antigenic differences in blood serum albumin. A discriminant function was estimated from the immunologic responses of northern (Canadian and Hudson River) and southern (Chesapeake Bay and Roanoke River) stocks to two reference antisera. The function correctly classified 92% of the northern and 95% of the southern fish in the training set. Cross-validation revealed similar percentages of correct classification for fish that were of known origin but not used to estimate the discriminant function. Monte Carlo experiments were used to evaluate the ability of the discriminant function to predict the relative contribution of northern fish in samples of various size and stock composition. Averages of predicted proportions of northern fish in the samples agreed well with actual proportions. Coefficients of variation (100 × SD/mean) in the predicted proportions ranged from 1.5 to 36% for samples of 50–400 fish that contained at least 10% northern stock. In samples that contained only 2% northern stock, however, at least 1,600 fish were required to achieve similar levels of precision.

  17. Spillovers among regional and international stock markets

    NASA Astrophysics Data System (ADS)

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

    2014-07-01

    Realizing the greater risk by the increase in the level of financial market integration, this study investigates the dynamic of international and regional stock markets co-movement among Asian countries with the world leading market, the US. The data utilized in this study comprises of weekly closing prices for four stock indices, that consists of two developing markets (Malaysia and China) and two developed markets (Japan and the US), and encompasses the period from January 1996 to December 2012. Multivariate Generalized Autoregressive Conditional Heteroscedasticity (MGARCH) model with the BEKK parameterization is employed to investigate the mean and volatility spillover effects among the selected stock indices. The results show significant mean spillover not only from the larger developed markets to smaller developing markets but also from the smaller developing markets to larger developed markets. Volatility spillover between the developed markets is found to be smaller than that between the developing markets. Conditional correlations among the stock markets are found to increase over the sample period. The findings of significant mean and volatility spillovers are considered as bad news for international investors as it reduces the benefit from portfolio diversification but act as useful information for investors to be more aware in diversifying their investment or stock selection.

  18. 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.

  19. Changing recruitment capacity in global fish stocks

    PubMed Central

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

    2016-01-01

    Marine fish and invertebrates are shifting their regional and global distributions in response to climate change, but it is unclear whether their productivity is being affected as well. Here we tested for time-varying trends in biological productivity parameters across 262 fish stocks of 127 species in 39 large marine ecosystems and high-seas areas (hereafter LMEs). This global meta-analysis revealed widespread changes in the relationship between spawning stock size and the production of juvenile offspring (recruitment), suggesting fundamental biological change in fish stock productivity at early life stages. Across regions, we estimate that average recruitment capacity has declined at a rate approximately equal to 3% of the historical maximum per decade. However, we observed large variability among stocks and regions; for example, highly negative trends in the North Atlantic contrast with more neutral patterns in the North Pacific. The extent of biological change in each LME was significantly related to observed changes in phytoplankton chlorophyll concentration and the intensity of historical overfishing in that ecosystem. We conclude that both environmental changes and chronic overfishing have already affected the productive capacity of many stocks at the recruitment stage of the life cycle. These results provide a baseline for ecosystem-based fisheries management and may help adjust expectations for future food production from the oceans. PMID:26668368

  20. Changing recruitment capacity in global fish stocks.

    PubMed

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

    2016-01-01

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

  1. Using the Stock Market to Teach Physics

    NASA Astrophysics Data System (ADS)

    Faux, David A.; Hearn, Stephen

    2004-11-01

    Students are interested in money. Personal finance is an important issue for most students, especially as they move into university education and take a greater control of their own finances. Many are also interested in stock markets and their ability to allow someone to make, and lose, large sums of money, with their interest fueled by the boom in technology-based stocks of 2000/2001 followed by their subsequent dramatic collapse and the publicizing of so-called "rogue-traders." There is also a much greater ownership of stocks by families following public offerings, stock-based savings products, and the ability to trade stocks online. Consequently, there has been a steady growth of finance and finance-related courses available within degree programs in response to the student demand, with many students motivated by the huge salaries commanded by those with a successful career in the financial sector. We report here details of a joint project between Charterhouse School and the University of Surrey designed to exploit the excitement of finance to teach elements of the high school (age 16-18) curriculum through modeling and simulation.

  2. Influence network in the Chinese stock market

    NASA Astrophysics Data System (ADS)

    Gao, Ya-Chun; Zeng, Yong; Cai, Shi-Min

    2015-03-01

    In a stock market, the price fluctuations are interactive, that is, one listed company can influence others. In this paper, we seek to study the influence relationships among listed companies by constructing a directed network on the basis of the Chinese stock market. This influence network shows distinct topological properties. In particular, a few large companies that can lead the tendency of the stock market are recognized. Furthermore, by analyzing the subnetworks of listed companies distributed in several significant economic sectors, it is found that the influence relationships are totally different from one economic sector to another, of which three types of connectivity as well as hub-like listed companies are identified. In addition, the rankings of listed companies obtained from the centrality metrics of the influence network are compared with those according to the assets, which gives inspiration to uncover and understand the importance of listed companies on the stock market. These empirical results are meaningful in providing these topological properties of the Chinese stock market and economic sectors as well as revealing the interactive influence relationships among listed companies.

  3. The Geometric Phase of Stock Trading.

    PubMed

    Altafini, Claudio

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote. PMID:27556642

  4. The Geometric Phase of Stock Trading

    PubMed Central

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote. PMID:27556642

  5. Dependence phenomenon analysis of the stock market

    NASA Astrophysics Data System (ADS)

    Cheng, Wuyang; Wang, Jun

    2013-04-01

    A random financial stock price model is developed by the interacting contact process, which is one of the statistical-physics systems. The contact process is a continuous-time Markov process, one interpretation of this process is as a model for the spread of an infection, where the epidemic spreading mimics the interplay of local infections and the recovery of individuals. We investigate and analyze the long-term memory, the nonlinear correlations and the multifractal phenomenon of normalized returns of the price model by statistical analysis methods, which include autocorrelation analysis, the Gaussian copula method and the multifractal analysis method. Moreover, we consider the daily returns of the Shanghai Stock Exchange Composite Index and the Shenzhen Stock Exchange Composite Index, and the comparisons of statistical behaviors of returns between the actual data and the simulation data are presented.

  6. Clustering stocks using partial correlation coefficients

    NASA Astrophysics Data System (ADS)

    Jung, Sean S.; Chang, Woojin

    2016-11-01

    A partial correlation analysis is performed on the Korean stock market (KOSPI). The difference between Pearson correlation and the partial correlation is analyzed and it is found that when conditioned on the market return, Pearson correlation coefficients are generally greater than those of the partial correlation, which implies that the market return tends to drive up the correlation between stock returns. A clustering analysis is then performed to study the market structure given by the partial correlation analysis and the members of the clusters are compared with the Global Industry Classification Standard (GICS). The initial hypothesis is that the firms in the same GICS sector are clustered together since they are in a similar business and environment. However, the result is inconsistent with the hypothesis and most clusters are a mix of multiple sectors suggesting that the traditional approach of using sectors to determine the proximity between stocks may not be sufficient enough to diversify a portfolio.

  7. The Geometric Phase of Stock Trading.

    PubMed

    Altafini, Claudio

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote.

  8. Quantifying Stock Return Distributions in Financial Markets.

    PubMed

    Botta, Federico; Moat, Helen Susannah; Stanley, H Eugene; Preis, Tobias

    2015-01-01

    Being able to quantify the probability of large price changes in stock markets is of crucial importance in understanding financial crises that affect the lives of people worldwide. Large changes in stock market prices can arise abruptly, within a matter of minutes, or develop across much longer time scales. Here, we analyze a dataset comprising the stocks forming the Dow Jones Industrial Average at a second by second resolution in the period from January 2008 to July 2010 in order to quantify the distribution of changes in market prices at a range of time scales. We find that the tails of the distributions of logarithmic price changes, or returns, exhibit power law decays for time scales ranging from 300 seconds to 3600 seconds. For larger time scales, we find that the distributions tails exhibit exponential decay. Our findings may inform the development of models of market behavior across varying time scales. PMID:26327593

  9. Quantifying Stock Return Distributions in Financial Markets

    PubMed Central

    Botta, Federico; Moat, Helen Susannah; Stanley, H. Eugene; Preis, Tobias

    2015-01-01

    Being able to quantify the probability of large price changes in stock markets is of crucial importance in understanding financial crises that affect the lives of people worldwide. Large changes in stock market prices can arise abruptly, within a matter of minutes, or develop across much longer time scales. Here, we analyze a dataset comprising the stocks forming the Dow Jones Industrial Average at a second by second resolution in the period from January 2008 to July 2010 in order to quantify the distribution of changes in market prices at a range of time scales. We find that the tails of the distributions of logarithmic price changes, or returns, exhibit power law decays for time scales ranging from 300 seconds to 3600 seconds. For larger time scales, we find that the distributions tails exhibit exponential decay. Our findings may inform the development of models of market behavior across varying time scales. PMID:26327593

  10. Toward a phase diagram for stocks

    NASA Astrophysics Data System (ADS)

    Ivanova, K.

    1999-08-01

    A display of the tentatively basic parameters of stocks, i.e. the daily closing price and the daily transaction volume is presented eliminating the time variable between them. The “phase diagram” looks like a triangular region similar to the two-phase region of traffic diagrams. The data is taken for two companies (SGP and OXHP) which present different long-range correlations in the closing price value as examined by the linearly Detrended Fluctuation Analysis (DFA) statistical method. Substructures are observed in the “phase diagram” as due to changes in management policy, e.g. stock splits.

  11. 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.

  12. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    PubMed

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

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price. PMID:27391816

  13. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    PubMed

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

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  14. Market Confidence Predicts Stock Price: Beyond Supply and Demand

    PubMed Central

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

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price. PMID:27391816

  15. The Index cohesive effect on stock market correlations

    NASA Astrophysics Data System (ADS)

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

    2009-12-01

    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 includes special collective (holographic) analysis of stock-Index correlations, of nested stock correlations (including the Index as an additional ghost stock) and of bare stock correlations (after subtraction of the Index return from the stocks returns). Our findings verify and strongly substantiate the assumed functional role of the index in the financial system as a cohesive force between stocks, i.e., the correlations between stocks are largely due to the strong correlation between each stock and the Index (the adhesive effect), rather than inter-stock dependencies. The Index adhesive and cohesive effects on the market correlations in the two markets are presented and compared in a reduced 3-D principal component space of the correlation matrices (holographic presentation). The results provide new insights into the interplay between an index and its constituent stocks in TASE-like versus NYSE-like markets.

  16. 27 CFR 46.233 - Payment of floor stocks tax.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... PRODUCTS AND CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 Filing Requirements § 46.233 Payment of floor stocks tax....

  17. 27 CFR 46.231 - Floor stocks tax return.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette....28T09, 2009 Floor Stocks Tax Return—Tobacco Products and Cigarette Papers and Tubes, is available...

  18. 27 CFR 46.231 - Floor stocks tax return.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette....28T09, 2009 Floor Stocks Tax Return—Tobacco Products and Cigarette Papers and Tubes, is available...

  19. 27 CFR 46.233 - Payment of floor stocks tax.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... PRODUCTS AND CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 Filing Requirements § 46.233 Payment of floor stocks tax....

  20. 27 CFR 46.231 - Floor stocks tax return.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette....28T09, 2009 Floor Stocks Tax Return—Tobacco Products and Cigarette Papers and Tubes, is available...

  1. 27 CFR 46.233 - Payment of floor stocks tax.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... PRODUCTS AND CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 Filing Requirements § 46.233 Payment of floor stocks tax....

  2. 27 CFR 46.231 - Floor stocks tax return.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette....28T09, 2009 Floor Stocks Tax Return—Tobacco Products and Cigarette Papers and Tubes, is available...

  3. 27 CFR 46.233 - Payment of floor stocks tax.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... PRODUCTS AND CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 Filing Requirements § 46.233 Payment of floor stocks tax....

  4. 27 CFR 46.231 - Floor stocks tax return.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette....28T09, 2009 Floor Stocks Tax Return—Tobacco Products and Cigarette Papers and Tubes, is available...

  5. 26 CFR 1.306-3 - Section 306 stock defined.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... relates to section 355) provided the effect of the transaction is substantially the same as the receipt of... different from the preferred stock previously held. Unless the preferred stock exchanged was itself...

  6. 77 FR 27246 - Marine Mammal Protection Act; Stock Assessment Report

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-05-09

    ... estimated average human-caused Stock Nmin Rmax Fr PBR mortality and Stock status serious injury (5- year.... 1996. Movement and spatial use patterns of California sea otters. Canadian Journal of Zoology...

  7. 8. Detail of viaduct, livestock exchange building to left, stock ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    8. Detail of viaduct, livestock exchange building to left, stock yards autopark right. View to north. - South Omaha Union Stock Yards, Buckingham Road Viaduct, Twenty-ninth Street spanning Stockyard Cattle Pens, Omaha, Douglas County, NE

  8. Polyvinylpyrrolidone dewaxing aid for bright stocks

    SciTech Connect

    Achia, B.U.; Shaw, D.H.

    1980-05-20

    Polyvinylpyrrolidone having a number average molecular weight ranging from about 150,000 to 400,000 has been found to be an effective dewaxing aid for bright stock in ketone dewaxing processes. Using as little as 100 ppm based on the waxy oil can result in almost a 50% increase in the filter rate of the dewaxed oils from the wax.

  9. Accounting for the Material Stock of Nations

    PubMed Central

    Fishman, Tomer; Schandl, Heinz; Tanikawa, Hiroki; Walker, Paul; Krausmann, Fridolin

    2014-01-01

    National material stock (MS) accounts have been a neglected field of analysis in industrial ecology, possibly because of the difficulty in establishing such accounts. In this research, we propose a novel method to model national MS based on historical material flow data. This enables us to avoid the laborious data work involved with bottom-up accounts for stocks and to arrive at plausible levels of stock accumulation for nations. We apply the method for the United States and Japan to establish a proof of concept for two very different cases of industrial development. Looking at a period of 75 years (1930–2005), we find that per capita MS has been much higher in the United States for the entire period, but that Japan has experienced much higher growth rates throughout, in line with Japan's late industrial development. By 2005, however, both Japan and the United States arrive at a very similar level of national MS of 310 to 375 tonnes per capita, respectively. This research provides new insight into the relationship between MS and flows in national economies and enables us to extend the debate about material efficiency from a narrow perspective of throughput to a broader perspective of stocks. PMID:25505368

  10. Low Oxygen Storage of Farmer Stock Peanuts

    Technology Transfer Automated Retrieval System (TEKTRAN)

    Farmer stock peanuts are stored in bulk storage facilities for periods ranging from 30d to 12mo. Studies were conducted in 1/10 scale conventional and monolithic dome storage facilities located in Dawson, GA. Conventional storage was represented by four metal buildings with storage capacity of appro...

  11. Dome Storage of Farmer Stock Peanuts

    Technology Transfer Automated Retrieval System (TEKTRAN)

    The small-scale farmer stock storage research facility at the National Peanut Research Laboratory in Dawson, GA consisting of four warehouses and four monolithic domes was used to conduct a 3-yr study looking at the effects of storing peanuts through the summer months following harvest. The study wa...

  12. Stock density managed in real-time

    Technology Transfer Automated Retrieval System (TEKTRAN)

    The spatio-temporal management of stocking density will be possible once virtual fencing (VF) becomes a commercial reality. VF uses sensory cues (currently audio and electrical stimulation) to change an instrumented animal's forward direction of movement. Free-ranging cattle instrumented with VF e...

  13. Fractal profit landscape of the stock market.

    PubMed

    Grönlund, Andreas; Yi, Il Gu; Kim, Beom Jun

    2012-01-01

    We investigate the structure of the profit landscape obtained from the most basic, fluctuation based, trading strategy applied for the daily stock price data. The strategy is parameterized by only two variables, p and q Stocks are sold and bought if the log return is bigger than p and less than -q, respectively. Repetition of this simple strategy for a long time gives the profit defined in the underlying two-dimensional parameter space of p and q. It is revealed that the local maxima in the profit landscape are spread in the form of a fractal structure. The fractal structure implies that successful strategies are not localized to any region of the profit landscape and are neither spaced evenly throughout the profit landscape, which makes the optimization notoriously hard and hypersensitive for partial or limited information. The concrete implication of this property is demonstrated by showing that optimization of one stock for future values or other stocks renders worse profit than a strategy that ignores fluctuations, i.e., a long-term buy-and-hold strategy.

  14. The Stocking Story: You Be the Historian.

    ERIC Educational Resources Information Center

    Smulyan, Susan; Goldstein, Carolyn; Gerhard, Jane

    1998-01-01

    Presents a lesson plan where students read an introductory essay, locate and examine a set of documents, and write an account of the introduction of nylon stockings and the effect of World War II on use of this fiber. Includes student handouts, background information, and reproduction of an E. I. DuPont press release. (MJP)

  15. Group identification in Indonesian stock market

    NASA Astrophysics Data System (ADS)

    Nurriyadi Suparno, Ervano; Jo, Sung Kyun; Lim, Kyuseong; Purqon, Acep; Kim, Soo Yong

    2016-08-01

    The characteristic of Indonesian stock market is interesting especially because it represents developing countries. We investigate the dynamics and structures by using Random Matrix Theory (RMT). Here, we analyze the cross-correlation of the fluctuations of the daily closing price of stocks from the Indonesian Stock Exchange (IDX) between January 1, 2007, and October 28, 2014. The eigenvalue distribution of the correlation matrix consists of noise which is filtered out using the random matrix as a control. The bulk of the eigenvalue distribution conforms to the random matrix, allowing the separation of random noise from original data which is the deviating eigenvalues. From the deviating eigenvalues and the corresponding eigenvectors, we identify the intrinsic normal modes of the system and interpret their meaning based on qualitative and quantitative approach. The results show that the largest eigenvector represents the market-wide effect which has a predominantly common influence toward all stocks. The other eigenvectors represent highly correlated groups within the system. Furthermore, identification of the largest components of the eigenvectors shows the sector or background of the correlated groups. Interestingly, the result shows that there are mainly two clusters within IDX, natural and non-natural resource companies. We then decompose the correlation matrix to investigate the contribution of the correlated groups to the total correlation, and we find that IDX is still driven mainly by the market-wide effect.

  16. Complex stock trading network among investors

    NASA Astrophysics Data System (ADS)

    Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2010-11-01

    We provide an empirical investigation aimed at uncovering the statistical properties of intricate stock trading networks based on the order flow data of a highly liquid stock (Shenzhen Development Bank) listed on Shenzhen Stock Exchange during the whole year of 2003. By reconstructing the limit order book, we can extract detailed information of each executed order for each trading day and demonstrate that the trade size distributions for different trading days exhibit power-law tails and that most of the estimated power-law exponents are well within the Lévy stable regime. Based on the records of order matching among investors, we can construct a stock trading network for each trading day, in which the investors are mapped into nodes and each transaction is translated as a direct edge from the seller to the buyer with the trade size as its weight. We find that all the trading networks comprise a giant component and have power-law degree distributions and disassortative architectures. In particular, the degrees are correlated with order sizes by a power-law function. By regarding the size of executed order as its fitness, the fitness model can reproduce the empirical power-law degree distribution.

  17. 47 CFR 32.4530 - Treasury stock.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Treasury stock. 32.4530 Section 32.4530 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4530 Treasury...

  18. Heterogeneous information-based artificial stock market

    NASA Astrophysics Data System (ADS)

    Pastore, S.; Ponta, L.; Cincotti, S.

    2010-05-01

    In this paper, an information-based artificial stock market is considered. The market is populated by heterogeneous agents that are seen as nodes of a sparsely connected graph. Agents trade a risky asset in exchange for cash. Besides the amount of cash and assets owned, each agent is characterized by a sentiment. Moreover, agents share their sentiments by means of interactions that are identified by the graph. Interactions are unidirectional and are supplied with heterogeneous weights. The agent's trading decision is based on sentiment and, consequently, the stock price process depends on the propagation of information among the interacting agents, on budget constraints and on market feedback. A central market maker (clearing house mechanism) determines the price process at the intersection of the demand and supply curves. Both closed- and open-market conditions are considered. The results point out the validity of the proposed model of information exchange among agents and are helpful for understanding the role of information in real markets. Under closed market conditions, the interaction among agents' sentiments yields a price process that reproduces the main stylized facts of real markets, e.g. the fat tails of the returns distributions and the clustering of volatility. Within open-market conditions, i.e. with an external cash inflow that results in asset price inflation, also the unitary root stylized fact is reproduced by the artificial stock market. Finally, the effects of model parameters on the properties of the artificial stock market are also addressed.

  19. The Stock Market: Risk vs. Uncertainty.

    ERIC Educational Resources Information Center

    Griffitts, Dawn

    2002-01-01

    This economics education publication focuses on the U.S. stock market and the risk and uncertainty that an individual faces when investing in the market. The material explains that risk and uncertainty relate to the same underlying concept randomness. It defines and discusses both concepts and notes that although risk is quantifiable, uncertainty…

  20. Put Your Stock in a Pictogram.

    ERIC Educational Resources Information Center

    Murphy, J. William

    1993-01-01

    Describes an assignment in which groups of students create pictograms that represents the performance of the stock of a company of their choice over a one-year period. Suggests getting the students involved in the evaluation of the student-developed pictograms. (RS)

  1. Analysis of Realized Volatility for Nikkei Stock Average on the Tokyo Stock Exchange

    NASA Astrophysics Data System (ADS)

    Takaishi, Tetsuya; Watanabe, Toshiaki

    2016-04-01

    We calculate realized volatility of the Nikkei Stock Average (Nikkei225) Index on the Tokyo Stock Exchange and investigate the return dynamics. To avoid the bias on the realized volatility from the non-trading hours issue we calculate realized volatility separately in the two trading sessions, i.e. morning and afternoon, of the Tokyo Stock Exchange and find that the microstructure noise decreases the realized volatility at small sampling frequency. Using realized volatility as a proxy of the integrated volatility we standardize returns in the morning and afternoon sessions and investigate the normality of the standardized returns by calculating variance, kurtosis and 6th moment. We find that variance, kurtosis and 6th moment are consistent with those of the standard normal distribution, which indicates that the return dynamics of the Nikkei Stock Average are well described by a Gaussian random process with time-varying volatility.

  2. 26 CFR 1.338-8 - Asset and stock consistency.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... affiliate, as appropriate, disposes of the stock of the selling controlled foreign corporation to an... appropriate, shall increase the basis of the selling controlled foreign corporation stock subject to paragraph... of the disposition of the stock of the selling controlled foreign corporation by the...

  3. 12 CFR 931.1 - Classes of capital stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  4. 12 CFR 931.3 - Minimum investment in capital stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Minimum investment in capital stock. 931.3 Section 931.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a)...

  5. 12 CFR 931.2 - Issuance of capital stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  6. 12 CFR 931.6 - Transfer of capital stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 7 2011-01-01 2011-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  7. Geographical distributions of lake trout strains stocked in Lake Ontario

    USGS Publications Warehouse

    Elrod, Joseph H.; O'Gorman, Robert; Schneider, Clifford P.; Schaner, Ted

    1996-01-01

    Geographical distributions of lake trout (Salvelinus namaycush) stocked at seven locations in U.S. waters and at four locations in Canadian waters of Lake Ontario were determined from fish caught with gill nets in September in 17 areas of U.S. waters and at 10 fixed locations in Canadian waters in 1986-95. For fish of a given strain stocked at a given location, geographical distributions were not different for immature males and immature females or for mature males and mature females. The proportion of total catch at the three locations nearest the stocking location was higher for mature fish than for immature fish in all 24 available comparisons (sexes combined) and was greater for fish stocked as yearlings than for those stocked as fingerlings in all eight comparisons. Mature fish were relatively widely dispersed from stocking locations indicating that their tendency to return to stocking locations for spawning was weak, and there was no appreciable difference in this tendency among strains. Mature lake trout were uniformly distributed among sampling locations, and the strain composition at stocking locations generally reflected the stocking history 5 to 6 years earlier. Few lake trout moved across Lake Ontario between the north and south shores or between the eastern outlet basin and the main lake basin. Limited dispersal from stocking sites supports the concept of stocking different genetic strains in various parts of the lake with the attributes of each strain selected to match environmental conditions in the portion of the lake where it is stocked.

  8. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 24 Housing and Urban Development 4 2012-04-01 2012-04-01 false What is current assisted stock... URBAN DEVELOPMENT NATIVE AMERICAN HOUSING ACTIVITIES Allocation Formula § 1000.312 What is current assisted stock? Current assisted stock consists of housing units owned or operated pursuant to an ACC....

  9. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false What is current assisted stock... URBAN DEVELOPMENT NATIVE AMERICAN HOUSING ACTIVITIES Allocation Formula § 1000.312 What is current assisted stock? Current assisted stock consists of housing units owned or operated pursuant to an ACC....

  10. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 24 Housing and Urban Development 4 2013-04-01 2013-04-01 false What is current assisted stock... URBAN DEVELOPMENT NATIVE AMERICAN HOUSING ACTIVITIES Allocation Formula § 1000.312 What is current assisted stock? Current assisted stock consists of housing units owned or operated pursuant to an ACC....

  11. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 24 Housing and Urban Development 4 2014-04-01 2014-04-01 false What is current assisted stock... URBAN DEVELOPMENT NATIVE AMERICAN HOUSING ACTIVITIES Allocation Formula § 1000.312 What is current assisted stock? Current assisted stock consists of housing units owned or operated pursuant to an ACC....

  12. Institutional development of freshwater fish stocking in Mexico.

    PubMed

    Ibáñez, A L; Pérez-Ramírez, M; García-Calderón, J L

    2014-12-01

    By using freshwater fish stocking information from the Mexican government, this work described the current situation of the national stocking and its associated fishery policy. There is a lack of effective freshwater stocking programmes as a result of limited fisheries management, unharmonized fisheries regulations and institutional performance. The fry production has decreased from 140 to 20 million in the past 11 years.

  13. 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)

  14. 12 CFR 931.2 - Issuance of capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  15. 12 CFR 931.3 - Minimum investment in capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum investment in capital stock. 931.3 Section 931.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a)...

  16. 12 CFR 931.6 - Transfer of capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  17. 12 CFR 931.1 - Classes of capital stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  18. 12 CFR 931.1 - Classes of capital stock.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 8 2014-01-01 2014-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  19. 12 CFR 931.6 - Transfer of capital stock.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 8 2013-01-01 2013-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  20. 12 CFR 931.6 - Transfer of capital stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 8 2012-01-01 2012-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  1. 12 CFR 931.1 - Classes of capital stock.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 8 2013-01-01 2013-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  2. 12 CFR 931.1 - Classes of capital stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 8 2012-01-01 2012-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  3. 12 CFR 931.3 - Minimum investment in capital stock.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 8 2014-01-01 2014-01-01 false Minimum investment in capital stock. 931.3 Section 931.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a)...

  4. 12 CFR 931.6 - Transfer of capital stock.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 8 2014-01-01 2014-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  5. 12 CFR 931.3 - Minimum investment in capital stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 8 2012-01-01 2012-01-01 false Minimum investment in capital stock. 931.3 Section 931.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a)...

  6. 12 CFR 931.2 - Issuance of capital stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 8 2012-01-01 2012-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  7. 12 CFR 931.2 - Issuance of capital stock.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 8 2013-01-01 2013-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  8. 12 CFR 931.3 - Minimum investment in capital stock.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 8 2013-01-01 2013-01-01 false Minimum investment in capital stock. 931.3 Section 931.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a)...

  9. 12 CFR 931.2 - Issuance of capital stock.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 12 Banks and Banking 8 2014-01-01 2014-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  10. 41 CFR 101-30.101-3 - National stock number.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true National stock number....1-General § 101-30.101-3 National stock number. The national stock number (NSN) is the identifying... NSN configuration is 1234-00-567-8901. The following terms are elements of the 13-digit national...

  11. 29 CFR 779.113 - Warehouse and stock room employees.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 29 Labor 3 2010-07-01 2010-07-01 false Warehouse and stock room employees. 779.113 Section 779.113 Labor Regulations Relating to Labor (Continued) WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR STATEMENTS....113 Warehouse and stock room employees. Warehouse and stock room employees of retail businesses...

  12. 26 CFR 1.552-3 - Stock ownership requirement.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Stock ownership requirement. 1.552-3 Section 1... (CONTINUED) INCOME TAXES (CONTINUED) Foreign Personal Holding Companies § 1.552-3 Stock ownership requirement. (a) To meet the stock ownership requirement, it is necessary that at some time in the taxable...

  13. 18 CFR 367.2040 - Account 204, Preferred stock issued.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... stock issued. 367.2040 Section 367.2040 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2040 Account 204, Preferred stock issued. This account must include the par or stated value of all preferred stock issued and outstanding....

  14. 18 CFR 367.2010 - Account 201, Common stock issued.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... stock issued. 367.2010 Section 367.2010 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2010 Account 201, Common stock issued. This account must include the par or stated value of all common capital stock issued...

  15. 27 CFR 21.3 - Stocks of discontinued formulas.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Stocks of discontinued..., DEPARTMENT OF THE TREASURY LIQUORS FORMULAS FOR DENATURED ALCOHOL AND RUM General Provisions § 21.3 Stocks of discontinued formulas. Denaturers, or specially denatured spirits dealers or users, having on hand stocks...

  16. 7 CFR 1610.9 - Class B stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Class B stock. 1610.9 Section 1610.9 Agriculture... POLICIES § 1610.9 Class B stock. Borrowers receiving loans from the Bank shall be required to invest in class B stock at 5 percent of the total amount of loan funds advanced. Borrowers may purchase class...

  17. 12 CFR 615.5250 - Disclosure requirements for borrower stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Disclosure requirements for borrower stock. 615.5250 Section 615.5250 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND... Disclosure requirements for borrower stock. (a) For sales of borrower stock, which for this subpart...

  18. 12 CFR 7.2018 - Lost stock certificates.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Lost stock certificates. 7.2018 Section 7.2018... Corporate Practices § 7.2018 Lost stock certificates. If a national bank does not provide for replacing lost, stolen, or destroyed stock certificates in its articles of association or bylaws, the bank may...

  19. 17 CFR 256.201 - Common stock issued.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Common stock issued. 256.201... COMPANY ACT OF 1935 Liabilities and Other Credit Accounts § 256.201 Common stock issued. This account shall include the par or stated value of all common capital stock issued and outstanding....

  20. 27 CFR 46.195 - Floor stocks requirements.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Floor stocks requirements... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 General § 46.195 Floor stocks requirements. (a) Take inventory....

  1. 26 CFR 1.542-3 - Stock ownership requirement.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Stock ownership requirement. 1.542-3 Section 1... (CONTINUED) INCOME TAXES (CONTINUED) Personal Holding Companies § 1.542-3 Stock ownership requirement. (a) General rule. To meet the stock ownership requirement, it is necessary that at some time during the...

  2. 12 CFR 209.3 - Cancellation of Reserve Bank stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Cancellation of Reserve Bank stock. 209.3... ISSUE AND CANCELLATION OF FEDERAL RESERVE BANK CAPITAL STOCK (REGULATION I) § 209.3 Cancellation of Reserve Bank stock. (a) Application for cancellation. Any bank that desires to withdraw from membership...

  3. 26 CFR 1.422-2 - Incentive stock options defined.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... incentive stock option to F to purchase 50,000 shares of R stock at $3 per share, the fair market value of R.... In addition, a change in the granting corporation or the stock available for purchase or award under... purchased under the plan and forfeited back to the plan; shares surrendered in payment of the exercise...

  4. 12 CFR 552.13 - Combinations involving Federal stock associations.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... associations. 552.13 Section 552.13 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY FEDERAL STOCK ASSOCIATIONS-INCORPORATION, ORGANIZATION, AND CONVERSION § 552.13 Combinations involving Federal stock associations. (a) Scope and authority. Federal stock associations may enter...

  5. 12 CFR 552.13 - Combinations involving Federal stock associations.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... associations. 552.13 Section 552.13 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY FEDERAL STOCK ASSOCIATIONS-INCORPORATION, ORGANIZATION, AND CONVERSION § 552.13 Combinations involving Federal stock associations. (a) Scope and authority. Federal stock associations may enter...

  6. 12 CFR 615.5245 - Limitations on association preferred stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 6 2011-01-01 2011-01-01 false Limitations on association preferred stock. 615... Limitations on association preferred stock. (a) The board of directors of each association offering preferred stock must adopt a policy that addresses the association's conditions or limits on the amount...

  7. 12 CFR 615.5245 - Limitations on association preferred stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Limitations on association preferred stock. 615... Limitations on association preferred stock. (a) The board of directors of each association offering preferred stock must adopt a policy that addresses the association's conditions or limits on the amount...

  8. 12 CFR 552.3 - Charters for Federal stock associations.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 5 2011-01-01 2011-01-01 false Charters for Federal stock associations. 552.3... ASSOCIATIONS-INCORPORATION, ORGANIZATION, AND CONVERSION § 552.3 Charters for Federal stock associations. The charter of a Federal stock association shall be in the following form, except that an association that...

  9. 12 CFR 552.3 - Charters for Federal stock associations.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Charters for Federal stock associations. 552.3... ASSOCIATIONS-INCORPORATION, ORGANIZATION, AND CONVERSION § 552.3 Charters for Federal stock associations. The charter of a Federal stock association shall be in the following form, except that an association that...

  10. 27 CFR 46.195 - Floor stocks requirements.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2011-04-01 2011-04-01 false Floor stocks requirements... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 General § 46.195 Floor stocks requirements. (a) Take inventory....

  11. 26 CFR 1.422-2 - Incentive stock options defined.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... any related corporation on the date of the grant of the January option and the pricing requirements of... 26 Internal Revenue 5 2012-04-01 2011-04-01 true Incentive stock options defined. 1.422-2 Section... (CONTINUED) INCOME TAXES (CONTINUED) Certain Stock Options § 1.422-2 Incentive stock options defined....

  12. 26 CFR 1.422-2 - Incentive stock options defined.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... any related corporation on the date of the grant of the January option and the pricing requirements of... 26 Internal Revenue 5 2011-04-01 2011-04-01 false Incentive stock options defined. 1.422-2 Section... (CONTINUED) INCOME TAXES (CONTINUED) Certain Stock Options § 1.422-2 Incentive stock options defined....

  13. 78 FR 19002 - Marine Mammal Protection Act; Draft Revised Stock Assessment Reports for Two Stocks of West...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-28

    ... Indian manatee stocks Nmin Rmax Fr PBR human-caused Stock status mortality (5- year average) Antillean... Society Journal, Wildlife Monographs, Gulf and Caribbean Research, Journal of Zoo and Wildlife...

  14. Vateritic sagitta in wild and stocked lake trout: Applicability to stock origin

    USGS Publications Warehouse

    Bowen, Charles A.; Bronte, Charles R.; Argyle, Ray L.; Adams, Jean V.; Johnson, James E.

    1999-01-01

    Aragonite is the normal form of calcium carbonate found in teleost otoliths, but it is sometimes replaced by vaterite, an alternate crystalline structure. We investigated the assumption that sagittal otoliths with vaterite replacement were unique to stocked lake trout Salvelinus namaycush in the Laurentian Great Lakes. Earlier studies had attributed these abnormalities to stocking stress, and proposed that the presence of vaterite could separate individual unmarked stocked lake trout from their wild counterparts. We examined and described the frequency of vateritic sagittae in two wild and three stocked populations of lake trout from the Great Lakes and a wild population from a remote inland lake in northern Canada. Among lake trout caught 2–12 years after being stocked, prevalence of vateritic sagittae was 66% for Lake Superior fish, 75% for Lake Huron fish, and 86% for Lake Ontario fish. Among wild fish caught, vateritic sagittae were present in 37% of Lake Superior fish, 22% of Lake Huron fish, and 49% of northern Canada fish. We also compared year-to-year differences in prevalence in four year-classes of fingerling lake trout reared in two U.S. national lake trout hatcheries. Prior to release, between 53 and 84% of the hatchery fish had at least one vateritic sagitta, and prevalence increased with handling associated with hatchery practices. Vateritic sagittae in wild fish might also indicate stress in nature. The presence of vateritic sagittae in both wild and stocked fish compromises the use of this characteristic as an unequivocal indicator of a particular fish's origin. Among-population differences in both the prevalence and the extent of vaterite replacement, however, may provide a means of differentiating between stocks of sympatric unmarked wild and stocked lake trout.

  15. Increased topsoil carbon stock across China's forests.

    PubMed

    Yang, Yuanhe; Li, Pin; Ding, Jinzhi; Zhao, Xia; Ma, Wenhong; Ji, Chengjun; Fang, Jingyun

    2014-08-01

    Biomass carbon accumulation in forest ecosystems is a widespread phenomenon at both regional and global scales. However, as coupled carbon-climate models predicted, a positive feedback could be triggered if accelerated soil carbon decomposition offsets enhanced vegetation growth under a warming climate. It is thus crucial to reveal whether and how soil carbon stock in forest ecosystems has changed over recent decades. However, large-scale changes in soil carbon stock across forest ecosystems have not yet been carefully examined at both regional and global scales, which have been widely perceived as a big bottleneck in untangling carbon-climate feedback. Using newly developed database and sophisticated data mining approach, here we evaluated temporal changes in topsoil carbon stock across major forest ecosystem in China and analysed potential drivers in soil carbon dynamics over broad geographical scale. Our results indicated that topsoil carbon stock increased significantly within all of five major forest types during the period of 1980s-2000s, with an overall rate of 20.0 g C m(-2) yr(-1) (95% confidence interval, 14.1-25.5). The magnitude of soil carbon accumulation across coniferous forests and coniferous/broadleaved mixed forests exhibited meaningful increases with both mean annual temperature and precipitation. Moreover, soil carbon dynamics across these forest ecosystems were positively associated with clay content, with a larger amount of SOC accumulation occurring in fine-textured soils. In contrast, changes in soil carbon stock across broadleaved forests were insensitive to either climatic or edaphic variables. Overall, these results suggest that soil carbon accumulation does not counteract vegetation carbon sequestration across China's forest ecosystems. The combination of soil carbon accumulation and vegetation carbon sequestration triggers a negative feedback to climate warming, rather than a positive feedback predicted by coupled carbon-climate models.

  16. 12 CFR 221.114 - Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock...

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Bank loans to purchase stock of American...) Interpretations § 221.114 Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock Plan. (a) The Board of Governors interpreted this part in connection with proposed loans by a...

  17. 12 CFR 221.114 - Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock...

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... Telephone and Telegraph Company under Employees' Stock Plan. 221.114 Section 221.114 Banks and Banking... (REGULATION U) Interpretations § 221.114 Bank loans to purchase stock of American Telephone and Telegraph... proposed loans by a bank to persons who are purchasing shares of stock of American Telephone and...

  18. 12 CFR 221.114 - Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock...

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... Telephone and Telegraph Company under Employees' Stock Plan. 221.114 Section 221.114 Banks and Banking...) Interpretations § 221.114 Bank loans to purchase stock of American Telephone and Telegraph Company under Employees... to persons who are purchasing shares of stock of American Telephone and Telegraph Company pursuant...

  19. 12 CFR 221.114 - Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock...

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... Telephone and Telegraph Company under Employees' Stock Plan. 221.114 Section 221.114 Banks and Banking...) Interpretations § 221.114 Bank loans to purchase stock of American Telephone and Telegraph Company under Employees... to persons who are purchasing shares of stock of American Telephone and Telegraph Company pursuant...

  20. Examining the dynamic interactions on volatilities of paired stock markets

    NASA Astrophysics Data System (ADS)

    Lee, Jun Shean; Sek, Siok Kun

    2015-02-01

    We conduct empirical analyses to investigate the interaction between volatilities of paired stock markets. The main objective of this study is to reveal possibility of spillover effects among stock markets which can determine the performances of stock returns and trade volumes of stocks. In particular, we seek to investigate if there exist two-way causal relationships on the volatilities in two stock markets in two groups of countries, i.e. between emerging markets of ASEAN-5 and between emerging and advanced countries. Our study is focused in Malaysia stock market and the paired relationship with its neighbouring countries (ASEAN5) and advanced countries (Japan and U.S.) respectively. The multivariate GARCH(1,1) model is applied in studying the interactions on the volatilities of paired stock markets. The results are compared between neighbouring countries and with that of advanced countries. The results are expected to reveal linkages between volatilities of stock markets and the dynamic relationships across markets. The results provide useful information in studying the performances of stock markets and predicting the stock movements by incorporating the external impacts from foreign stock markets.

  1. Quantum Brownian motion model for the stock market

    NASA Astrophysics Data System (ADS)

    Meng, Xiangyi; Zhang, Jian-Wei; Guo, Hong

    2016-06-01

    It is believed by the majority today that the efficient market hypothesis is imperfect because of market irrationality. Using the physical concepts and mathematical structures of quantum mechanics, we construct an econophysical framework for the stock market, based on which we analogously map massive numbers of single stocks into a reservoir consisting of many quantum harmonic oscillators and their stock index into a typical quantum open system-a quantum Brownian particle. In particular, the irrationality of stock transactions is quantitatively considered as the Planck constant within Heisenberg's uncertainty relationship of quantum mechanics in an analogous manner. We analyze real stock data of Shanghai Stock Exchange of China and investigate fat-tail phenomena and non-Markovian behaviors of the stock index with the assistance of the quantum Brownian motion model, thereby interpreting and studying the limitations of the classical Brownian motion model for the efficient market hypothesis from a new perspective of quantum open system dynamics.

  2. An autocatalytic network model for stock markets

    NASA Astrophysics Data System (ADS)

    Caetano, Marco Antonio Leonel; Yoneyama, Takashi

    2015-02-01

    The stock prices of companies with businesses that are closely related within a specific sector of economy might exhibit movement patterns and correlations in their dynamics. The idea in this work is to use the concept of autocatalytic network to model such correlations and patterns in the trends exhibited by the expected returns. The trends are expressed in terms of positive or negative returns within each fixed time interval. The time series derived from these trends is then used to represent the movement patterns by a probabilistic boolean network with transitions modeled as an autocatalytic network. The proposed method might be of value in short term forecasting and identification of dependencies. The method is illustrated with a case study based on four stocks of companies in the field of natural resource and technology.

  3. Stock network stability in times of crisis

    NASA Astrophysics Data System (ADS)

    Heiberger, Raphael H.

    2014-01-01

    Despite many efforts crises on financial markets are in large part still scientific black-boxes. In this paper, we use a winner-take-all approach to construct a longitudinal network of S&P 500 companies and their correlations between 2000 and 2012. A comparison to complex ecosystems is drawn, especially whether the May-Wigner theorem can describe real-world economic phenomena. The results confirm the utility of the May-Wigner theorem as a stability indicator for the US stock market, since its development matches with the two major crises of this period, the dot-com bubble and, particularly, the financial crisis. In those times of financial turmoil, the stock network changes its composition, but unlike ecological systems it tightens and the disassortative structure of prosperous markets transforms into a more centralized topology.

  4. Decomposing the stock market intraday dynamics

    NASA Astrophysics Data System (ADS)

    Kwapień, J.; Drożdż, S.; Grümmer, F.; Ruf, F.; Speth, J.

    2002-06-01

    The correlation matrix formalism is used to study temporal aspects of the stock market evolution. This formalism allows to decompose the financial dynamics into noise as well as into some coherent repeatable intraday structures. The present study is based on the high-frequency Deutsche Aktienindex (DAX) data over the time period between November 1997 and September 1999, and makes use of both the corresponding returns as well as volatility variations. One principal conclusion is that a bulk of the stock market dynamics is governed by the uncorrelated noise-like processes. There exists, however, a small number of components of coherent short-term repeatable structures in fluctuations that may generate some memory effects seen in the standard autocorrelation function analysis. Laws that govern fluctuations associated with those various components are different, which indicates an extremely complex character of the financial fluctuations.

  5. Analysis of stock prices of mining business

    NASA Astrophysics Data System (ADS)

    Ahn, Sanghyun; Lim, G. C.; Kim, S. H.; Kim, Soo Yong; Yoon, Kwon Youb; Stanfield, Joseph Lee; Kim, Kyungsik

    2011-06-01

    Stock exchanges have a diversity of so-called business groups and much evidence has been presented by covariance matrix analysis (Laloux et al. (1999) [6], Plerou et al. (2002) [7], Plerou et al. (1999) [8], Mantegna (1999) [9], Utsugi et al. (2004) [21] and Lim et al. (2009) [26]). A market-wide effect plays a crucial role in shifting the correlation structure from random to non-random. In this work, we study the structural properties of stocks related to the mining industry, especially rare earth minerals, listed on two exchanges, namely the TSX (Toronto stock exchange) and the TSX-V (Toronto stock exchange-ventures). In general, raw-material businesses are sensitively affected by the global economy while each firm has its own cycle. We prove that the global crisis during 2006-2009 affected the mineral market considerably. These two aspects compete to control price fluctuations. We show that the internal cycle overwhelms the global economic environment in terms of random matrix theory and overlapping matrices. However, during the period of 2006-2009, the effect of the global economic environment emerges. This result is well explained by the recent global financial/economic crisis. For comparison, we analyze the time stability of business clusters of the KOSPI, that is, the electric/electronic business, using an overlapping matrix. A clear difference in behavior is confirmed. Consequently, rare earth minerals in the raw-material business should be classified not by standard business classifications but by the internal cycle of business.

  6. Tooling Converts Stock Bearings To Custom Bearings

    NASA Technical Reports Server (NTRS)

    Fleenor, E. N., Jr.

    1983-01-01

    Technique for reworking stock bearings saves time and produces helicopter-rotor bearings ground more precisely. Split tapered ring at one end of threaded bolt expands to hold inside of inner race bearing assembly; nut, at other end of bolt, adjusts amount of spring tension. Piece of hardware grasps bearing firmly without interfering with grinding operation. Operation produces bearing of higher quality than commercially available bearings.

  7. Growth and contribution of stocked channel catfish, Ictalurus punctatus (Rafinesque, 1818): the importance of measuring post-stocking performance

    USGS Publications Warehouse

    Stewart, David R.; Long, James M.

    2015-01-01

    In this study it was sought to quantify post-stocking growth, survival, and contribution of advanced size (178 mm total length [TL]) channel catfish Ictalurus punctatus fingerlings, something rarely done. Channel catfish populations were evaluated before (May 2010) and after (May to August 2011 and 2012) stocking. Relative abundance, stocking contribution, and growth were different (P < 0.05) in the two study impoundments (lakes Lone Chimney and Greenleaf, Oklahoma). For fish stocked in Lake Lone Chimney, stocking contribution was lower (3–35%), and average length and weight of stocked fish by age-2 reached 230 mm TL and 85 g, whereas the stocking contribution (84–98%) and growth in length (340 mm TL) and weight (280 g) were higher by age-2 in Lake Greenleaf. Given these unambiguous differences of post-stocking performance, benchmark metrics that represent population-level information such as relative abundance and average length and weight of the sample masked these significant differences, highlighting the importance of marking hatchery-fish and then following them through time to determine the effectiveness of stocking. These results suggest that stock enhancement programmes would benefit from studies that quantify post-stocking performance of hatchery fish.

  8. ASTM/NBS base stock consistency study

    SciTech Connect

    Frassa, K.A.

    1980-11-01

    This paper summarizes the scope of a cooperative ASTM/NBS program established in June 1979. The contemplated study will ascertain the batch-to-batch consistency of re-refined and virgin base stocks manufactured by various processes. For one year, approximately eight to ten different base stocks samples, will be obtained by NBS every two weeks. One set of bi-monthly samples will be forwarded to each participant, on a coded basis monthly. Seven to eight samples will be obtained from six different re-refining processes and two virgin oil samples from a similar manufacturing process. The participants will report their results on a monthly basis. The second set of samples will be retained by NBS for an interim monthly sample study, if required, based on data analysis. Each sample's properties will be evaluated using various physical tests, chemical tests, and bench tests. The total testing program should define the batch-to-batch base stock consistency short of engine testing.

  9. Optimal investment horizons for stocks and markets

    NASA Astrophysics Data System (ADS)

    Johansen, A.; Simonsen, I.; Jensen, M. H.

    2006-10-01

    The inverse statistics is the distribution of waiting times needed to achieve a predefined level of return obtained from (detrended) historic asset prices [I. Simonsen, M.H. Jensen, A. Johansen, Eur. Phys. J. 27 (2002) 583; M.H. Jensen, A. Johansen, I. Simonsen, Physica A 234 (2003) 338]. Such a distribution typically goes through a maximum at a time coined the optimal investment horizon, τρ*, which defines the most likely waiting time for obtaining a given return ρ. By considering equal positive and negative levels of return, we reported in [M.H. Jensen, A. Johansen, I. Simonsen, Physica A 234 (2003) 338] on a quantitative gain/loss asymmetry most pronounced for short horizons. In the present paper, the inverse statistics for {2}/{3} of the individual stocks presently in the DJIA is investigated. We show that this gain/loss asymmetry established for the DJIA surprisingly is not present in the time series of the individual stocks nor their average. This observation points towards some kind of collective movement of the stocks of the index (synchronization).

  10. 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.

  11. Statistical analysis of bankrupting and non-bankrupting stocks

    NASA Astrophysics Data System (ADS)

    Li, Qian; Wang, Fengzhong; Wei, Jianrong; Liang, Yuan; Huang, Jiping; Stanley, H. Eugene

    2012-04-01

    The recent financial crisis has caused extensive world-wide economic damage, affecting in particular those who invested in companies that eventually filed for bankruptcy. A better understanding of stocks that become bankrupt would be helpful in reducing risk in future investments. Economists have conducted extensive research on this topic, and here we ask whether statistical physics concepts and approaches may offer insights into pre-bankruptcy stock behavior. To this end, we study all 20092 stocks listed in US stock markets for the 20-year period 1989-2008, including 4223 (21 percent) that became bankrupt during that period. We find that, surprisingly, the distributions of the daily returns of those stocks that become bankrupt differ significantly from those that do not. Moreover, these differences are consistent for the entire period studied. We further study the relation between the distribution of returns and the length of time until bankruptcy, and observe that larger differences of the distribution of returns correlate with shorter time periods preceding bankruptcy. This behavior suggests that sharper fluctuations in the stock price occur when the stock is closer to bankruptcy. We also analyze the cross-correlations between the return and the trading volume, and find that stocks approaching bankruptcy tend to have larger return-volume cross-correlations than stocks that are not. Furthermore, the difference increases as bankruptcy approaches. We conclude that before a firm becomes bankrupt its stock exhibits unusual behavior that is statistically quantifiable.

  12. An explicit solution for calculating optimum spawning stock size from Ricker's stock recruitment model.

    PubMed

    Scheuerell, Mark D

    2016-01-01

    Stock-recruitment models have been used for decades in fisheries management as a means of formalizing the expected number of offspring that recruit to a fishery based on the number of parents. In particular, Ricker's stock recruitment model is widely used due to its flexibility and ease with which the parameters can be estimated. After model fitting, the spawning stock size that produces the maximum sustainable yield (S MSY) to a fishery, and the harvest corresponding to it (U MSY), are two of the most common biological reference points of interest to fisheries managers. However, to date there has been no explicit solution for either reference point because of the transcendental nature of the equation needed to solve for them. Therefore, numerical or statistical approximations have been used for more than 30 years. Here I provide explicit formulae for calculating both S MSY and U MSY in terms of the productivity and density-dependent parameters of Ricker's model.

  13. An Ensemble of Neural Networks for Stock Trading Decision Making

    NASA Astrophysics Data System (ADS)

    Chang, Pei-Chann; Liu, Chen-Hao; Fan, Chin-Yuan; Lin, Jun-Lin; Lai, Chih-Ming

    Stock turning signals detection are very interesting subject arising in numerous financial and economic planning problems. In this paper, Ensemble Neural Network system with Intelligent Piecewise Linear Representation for stock turning points detection is presented. The Intelligent piecewise linear representation method is able to generate numerous stocks turning signals from the historic data base, then Ensemble Neural Network system will be applied to train the pattern and retrieve similar stock price patterns from historic data for training. These turning signals represent short-term and long-term trading signals for selling or buying stocks from the market which are applied to forecast the future turning points from the set of test data. Experimental results demonstrate that the hybrid system can make a significant and constant amount of profit when compared with other approaches using stock data available in the market.

  14. Multidimensional stock network analysis: An Escoufier's RV coefficient approach

    NASA Astrophysics Data System (ADS)

    Lee, Gan Siew; Djauhari, Maman A.

    2013-09-01

    The current practice of stocks network analysis is based on the assumption that the time series of closed stock price could represent the behaviour of the each stock. This assumption leads to consider minimal spanning tree (MST) and sub-dominant ultrametric (SDU) as an indispensible tool to filter the economic information contained in the network. Recently, there is an attempt where researchers represent stock not only as a univariate time series of closed price but as a bivariate time series of closed price and volume. In this case, they developed the so-called multidimensional MST to filter the important economic information. However, in this paper, we show that their approach is only applicable for that bivariate time series only. This leads us to introduce a new methodology to construct MST where each stock is represented by a multivariate time series. An example of Malaysian stock exchange will be presented and discussed to illustrate the advantages of the method.

  15. Research on the fractal structure in the Chinese stock market

    NASA Astrophysics Data System (ADS)

    Zhuang, Xin-tian; Huang, Xiao-yuan; Sha, Yan-li

    2004-02-01

    Applying fractal theory, this paper probes and discusses self-similarity and scale invariance of the Chinese stock market. It analyses three kinds of scale indexes, i.e., autocorrelation index, Hurst index and the scale index on the basis of detrended fluctuation analysis (DFA) algorithm and promotes DFA into a recursive algorithm. Using the three kinds of scale indexes, we conduct empirical research on the Chinese Shanghai and Shenzhen stock markets. The results indicate that the rate of returns of the two stock markets does not obey the normal distribution. A correlation exists between the stock price indexes over time scales. The stock price indexes exhibit fractal time series. It indicates that the policy guide hidden at the back influences the characteristic of the Chinese stock market.

  16. Model for non-Gaussian intraday stock returns

    NASA Astrophysics Data System (ADS)

    Gerig, Austin; Vicente, Javier; Fuentes, Miguel A.

    2009-12-01

    Stock prices are known to exhibit non-Gaussian dynamics, and there is much interest in understanding the origin of this behavior. Here, we present a model that explains the shape and scaling of the distribution of intraday stock price fluctuations (called intraday returns) and verify the model using a large database for several stocks traded on the London Stock Exchange. We provide evidence that the return distribution for these stocks is non-Gaussian and similar in shape and that the distribution appears stable over intraday time scales. We explain these results by assuming the volatility of returns is constant intraday but varies over longer periods such that its inverse square follows a gamma distribution. This produces returns that are Student distributed for intraday time scales. The predicted results show excellent agreement with the data for all stocks in our study and over all regions of the return distribution.

  17. Cross-response in correlated financial markets: individual stocks

    NASA Astrophysics Data System (ADS)

    Wang, Shanshan; Schäfer, Rudi; Guhr, Thomas

    2016-04-01

    Previous studies of the stock price response to trades focused on the dynamics of single stocks, i.e. they addressed the self-response. We empirically investigate the price response of one stock to the trades of other stocks in a correlated market, i.e. the cross-responses. How large is the impact of one stock on others and vice versa? - This impact of trades on the price change across stocks appears to be transient instead of permanent as we discuss from the viewpoint of market efficiency. Furthermore, we compare the self-responses on different scales and the self- and cross-responses on the same scale. We also find that the cross-correlation of the trade signs turns out to be a short-memory process.

  18. Obituary: Jürgen Stock 1923-2004

    NASA Astrophysics Data System (ADS)

    Lorenzen, D. H.

    2004-09-01

    On April 19, 2004 Jürgen Stock passed away at the age of 80. Jürgen Stock was never on the payroll of ESO, but he had tremendous impact on the early years of the organisation. In 1951 Stock did his PhD in Hamburg - his supervisor was Otto Heckmann, who later became the first Director General of ESO. After some years in Cleveland - and with a one year interval at Boyden Observatory, South Africa - Stock was asked by Gerard Kuiper to do a site test in Chile. The University of Chicago looked for a mountain in the Santiago area to put up a 1.5-m-telescope in the southern hemisphere. Stock accepted and took off for Chile within days. The trip, that was supposed to last a few weeks, lasted more than three years. "As a result, the world's largest collection of astronomical instruments is now in Chile", recalled Jürgen Stock four decades later.

  19. Topological properties of stock market networks: The case of Brazil

    NASA Astrophysics Data System (ADS)

    Tabak, Benjamin M.; Serra, Thiago R.; Cajueiro, Daniel O.

    2010-08-01

    This paper investigates the topological properties of the Brazilian stock market networks. We build the minimum spanning tree, which is based on the concept of ultrametricity, using the correlation matrix for a variety of stocks of different sectors. Our results suggest that stocks tend to cluster by sector. We employ a dynamic approach using complex network measures and find that the relative importance of different sectors within the network varies. The financial, energy and material sectors are the most important within the network.

  20. Robot traders can prevent extreme events in complex stock markets

    NASA Astrophysics Data System (ADS)

    Suhadolnik, Nicolas; Galimberti, Jaqueson; Da Silva, Sergio

    2010-11-01

    If stock markets are complex, monetary policy and even financial regulation may be useless to prevent bubbles and crashes. Here, we suggest the use of robot traders as an anti-bubble decoy. To make our case, we put forward a new stochastic cellular automata model that generates an emergent stock price dynamics as a result of the interaction between traders. After introducing socially integrated robot traders, the stock price dynamics can be controlled, so as to make the market more Gaussian.

  1. 26 CFR 25.2512-2 - Stocks and bonds.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Stocks and bonds. 25.2512-2 Section 25.2512-2... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-2 Stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per share or bond on the date of the gift....

  2. 26 CFR 52.4682-4 - Floor stocks tax.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 17 2014-04-01 2014-04-01 false Floor stocks tax. 52.4682-4 Section 52.4682-4...) Tax imposed on January 1, 1990. In the case of the floor stocks tax imposed on January l, 1990, the... 1990—(1) In general. In the case of the floor stocks tax imposed on January 1 of a calendar year...

  3. 26 CFR 52.4682-4 - Floor stocks tax.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 17 2013-04-01 2013-04-01 false Floor stocks tax. 52.4682-4 Section 52.4682-4...) Tax imposed on January 1, 1990. In the case of the floor stocks tax imposed on January l, 1990, the... 1990—(1) In general. In the case of the floor stocks tax imposed on January 1 of a calendar year...

  4. 26 CFR 52.4682-4 - Floor stocks tax.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 26 Internal Revenue 17 2011-04-01 2011-04-01 false Floor stocks tax. 52.4682-4 Section 52.4682-4...) Tax imposed on January 1, 1990. In the case of the floor stocks tax imposed on January l, 1990, the... 1990—(1) In general. In the case of the floor stocks tax imposed on January 1 of a calendar year...

  5. Geon deal triggers bloodbath in Goodrich stock

    SciTech Connect

    Plishner, E.S.

    1993-03-03

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

  6. Exploring Market State and Stock Interactions on the Minute Timescale.

    PubMed

    Tan, Lei; Chen, Jun-Jie; Zheng, Bo; Ouyang, Fang-Yan

    2016-01-01

    A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective. PMID:26900948

  7. Has microblogging changed stock market behavior? Evidence from China

    NASA Astrophysics Data System (ADS)

    Jin, Xi; Shen, Dehua; Zhang, Wei

    2016-06-01

    This paper examines the stock market behavior for a long-lived subset of firms in Shanghai and Shenzhen CSI 300 Index (CSI 300 Index) both before and after the establishment of firms' Microblogging in Sina Weibo. The empirical results show a significant increase in the relative trading volume as well as the decreases in the daily expected stock return and firm-level volatility in the post-Sina Weibo period. These findings suggest that Sina Weibo as an alternative information interaction channel has changed the information environment for individual stock, enhanced the speed of information diffusion and therefore changed the overall stock market behavior.

  8. Trends and needs in can stock: A packaging company's perspective

    NASA Astrophysics Data System (ADS)

    Hoyle, W. C.; Setlak, F. R.

    1996-11-01

    Since the late 1950s, domestically produced can stock has been supplied to North American canmakers in continually growing volumes. The gauge of aluminum can stock has been decreasing steadily, and newer alloys have been added. The field has also witnessed increasingly more sophisticated thermal-mechanical processing in order to fulfill the container performance and formability requirements. This article presents a brief historical review of can stock, the current status of the market, and areas where improvement is needed from the Crown Cork & Seal Company's perspective. Beverage body, end, and tab stock are addressed.

  9. 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.

  10. Random matrix theory and portfolio optimization in Moroccan stock exchange

    NASA Astrophysics Data System (ADS)

    El Alaoui, Marwane

    2015-09-01

    In this work, we use random matrix theory to analyze eigenvalues and see if there is a presence of pertinent information by using Marčenko-Pastur distribution. Thus, we study cross-correlation among stocks of Casablanca Stock Exchange. Moreover, we clean correlation matrix from noisy elements to see if the gap between predicted risk and realized risk would be reduced. We also analyze eigenvectors components distributions and their degree of deviations by computing the inverse participation ratio. This analysis is a way to understand the correlation structure among stocks of Casablanca Stock Exchange portfolio.

  11. Effects of daylight savings time changes on stock market volatility.

    PubMed

    Berument, M Hakan; Dogan, Nukhet; Onar, Bahar

    2010-04-01

    The presence of daylight savings time effects on stock returns and on stock volatility was investigated using an EGARCH specification to model the conditional variance. The evidence gathered from the major United States stock markets for the period between 1967 and 2007 did not support the existence of the daylight savings time effect on stock returns or on volatility. Returns on the first business day following daylight savings time changes were not lower nor was the volatility higher, as would be expected if there were an effect.

  12. Exploring Market State and Stock Interactions on the Minute Timescale

    PubMed Central

    Tan, Lei; Chen, Jun-Jie; Zheng, Bo; Ouyang, Fang-Yan

    2016-01-01

    A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective. PMID:26900948

  13. Alternation of different fluctuation regimes in the stock market dynamics

    NASA Astrophysics Data System (ADS)

    Kwapień, J.; Drożdż, S.; Speth, J.

    2003-12-01

    Based on the tick-by-tick stock prices from the German and American stock markets, we study the statistical properties of the distribution of the individual stocks and the index returns in highly collective and noisy intervals of trading, separately. We show that periods characterized by the strong inter-stock couplings can be associated with the distributions of index fluctuations which reveal more pronounced tails than in the case of weaker couplings in the market. During periods of strong correlations in the German market these distributions can even reveal an apparent Lévy-stable component.

  14. Exploring Market State and Stock Interactions on the Minute Timescale.

    PubMed

    Tan, Lei; Chen, Jun-Jie; Zheng, Bo; Ouyang, Fang-Yan

    2016-01-01

    A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective.

  15. Analysis in correlation for the Korean stock market

    NASA Astrophysics Data System (ADS)

    Jung, Woo-Sung; Chae, Seungbyung; Yang, Jae-Suk; Kwon, Okyu; Moon, Hie-Tae

    2005-05-01

    The correlation between stock price changes is useful information. Through the correlation matrix, we construct a portfolio with its minimum spanning tree. We make the minimum spanning tree of the Korean stock market, a representative emerging market, which is different from that of the mature market. It is due to the emerging market's less abundant liquidity than the mature market. And we find the distribution of the correlation coefficient is different for several periods. As the market is developing, many changes from inside and outside the market occurs, and several parameters of the stock market network are changed. The Korean stock market is under an evolution.

  16. 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.

  17. Stock-car racing makes intuitive physicists

    NASA Astrophysics Data System (ADS)

    Gwynne, Peter

    2008-03-01

    Formula One races involve cars festooned with gadgets and complex electronic devices, in which millions of dollars are spent refining a vehicle's aerodynamics and reducing its weight. But in events run by America's National Association of Stock Car Auto Racing (NASCAR), cars hurtle round an oval track at speeds of about 300 km h-1 without the help of the complex sensors that are employed in Formula One cars. To avoid crashing, drivers must make their own adjustments to track conditions, engine problems and the traffic around them.

  18. Multifractal analysis of stock exchange crashes

    NASA Astrophysics Data System (ADS)

    Siokis, Fotios M.

    2013-03-01

    We analyze the complexity of rare events of the DJIA Index. We reveal that the returns of the time series exhibit strong multifractal properties meaning that temporal correlations play a substantial role. The effect of major stock market crashes can be best illustrated by the comparison of the multifractal spectra of the time series before and after the crash. Aftershock periods compared to foreshock periods exhibit richer and more complex dynamics. Compared to an average crash, calculated by taking into account the larger 5 crashes of the DJIA Index, the 1929 event exhibits significantly more increase in multifractality than the 1987 crisis.

  19. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ..., the term “depository institution” shall have the meaning set forth at 12 CFR 552.13(b). An application..., personal, mixed, tangible or intangible, including choses in action, rights, and credits) of the former... association when the conversion occurs. In effect, the Federal stock association is the same as the...

  20. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ..., the term “depository institution” shall have the meaning set forth at 12 CFR 552.13(b). An application..., personal, mixed, tangible or intangible, including choses in action, rights, and credits) of the former... association when the conversion occurs. In effect, the Federal stock association is the same as the...

  1. 78 FR 17053 - Indirect Stock Transfers and the Coordination Rule Exceptions; Transfers of Stock or Securities...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-19

    ... Internal Revenue Service 26 CFR Parts 1 and 602 RIN 1545-BJ75 Indirect Stock Transfers and the Coordination... Revenue Service (IRS), Treasury. ACTION: Final and temporary regulations. SUMMARY: This document contains... have been reviewed and approved by the Office of Management and Budget in accordance with the...

  2. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Exchanges in Obedience to S.e... securities with an associate company (i.e., a corporation in the same holding company system with the...

  3. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Exchanges in Obedience to S.e... securities with an associate company (i.e., a corporation in the same holding company system with the...

  4. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Exchanges in Obedience to S.e... securities with an associate company (i.e., a corporation in the same holding company system with the...

  5. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Exchanges in Obedience to S.e... securities with an associate company (i.e., a corporation in the same holding company system with the...

  6. 78 FR 66791 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-06

    ... COMMISSION Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule... Stock-Future Orders October 31, 2013. I. Introduction On September 4, 2013, Chicago Stock Exchange, Inc..., and to allow the stock leg trade of Stock-Future orders to be cancelled or adjusted. The proposed...

  7. 26 CFR 1.1244(d)-3 - Stock dividend, recapitalizations, changes in name, etc.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... receipt of a stock dividend; (2) the exchange of stock for stock pursuant to a reorganization described in section 368(a)(1)(E); and (3) the exchange of stock for stock pursuant to a reorganization described in...) other than the one described in subparagraph (C) thereof, relating to the gross receipts test. (2)...

  8. 26 CFR 1.422-1 - Incentive stock options; general rules.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Incentive stock options; general rules. 1.422-1... TAX (CONTINUED) INCOME TAXES Certain Stock Options § 1.422-1 Incentive stock options; general rules... stock to an individual pursuant to the individual's exercise of an incentive stock option if...

  9. Stock markets are not what we think they are: the key roles of cross-ownership and corporate treasury stock

    NASA Astrophysics Data System (ADS)

    Roehner, Bertrand M.

    2005-03-01

    We describe, document and statistically test three mechanisms by which corporations can influence or even control stock prices: (i) Parent and holding companies wield control over other publicly traded companies. (ii) Through clever management of treasury stock based on buyback programs and stock issuance, stock price fluctuations can be amplified or curbed. The shock of September 11, 2001 is used to test this effect. (iii) Finally, historical evidence shows that there is a close interdependence between the level of stock prices on the one hand and merger and acquisition activity on the other hand: on average, a 10% increase in the number of mergers brings about a 3% increase in the overall level of stock prices. If one adds up buybacks, initial public offerings and takeover transactions, all of which depend upon strategic decisions taken by corporate management, they represent on average 7.2% of the trade on the New York Stock Exchange over the period 1987-2003 (as much as 12% in specific years such as 1988). This perspective, in which the Boards of Directors of major companies “shepherd” the market, offers a natural interpretation of the so-called “herd behavior” observed in stock markets. The traditional view holds that, by driving profit expectations, corporations have an indirect role in shaping the market. In this paper, we suggest that over the last decades they became more and more the direct moving force of stock markets.

  10. Geography of Global Forest Carbon Stocks & Dynamics

    NASA Astrophysics Data System (ADS)

    Saatchi, S. S.; Yu, Y.; Xu, L.; Yang, Y.; Fore, A.; Ganguly, S.; Nemani, R. R.; Zhang, G.; Lefsky, M. A.; Sun, G.; Woodall, C. W.; Naesset, E.; Seibt, U. H.

    2014-12-01

    Spatially explicit distribution of carbon stocks and dynamics in global forests can greatly reduce the uncertainty in the terrestrial portion of the global carbon cycle by improving estimates of emissions and uptakes from land use activities, and help with green house gas inventory at regional and national scales. Here, we produce the first global distribution of carbon stocks in living woody biomass at ~ 100 m (1-ha) resolution for circa 2005 from a combination of satellite observations and ground inventory data. The total carbon stored in live woody biomass is estimated to be 337 PgC with 258 PgC in aboveground and 79 PgC in roots, and partitioned globally in boreal (20%), tropical evergreen (50%), temperate (12%), and woodland savanna and shrublands (15%). We use a combination of satellite observations of tree height, remote sensing data on deforestation and degradation to quantify the dynamics of these forests at the biome level globally and provide geographical distribution of carbon storage dynamics in terms sinks and sources globally.

  11. Variable diffusion in stock market fluctuations

    NASA Astrophysics Data System (ADS)

    Hua, Jia-Chen; Chen, Lijian; Falcon, Liberty; McCauley, Joseph L.; Gunaratne, Gemunu H.

    2015-02-01

    We analyze intraday fluctuations in several stock indices to investigate the underlying stochastic processes using techniques appropriate for processes with nonstationary increments. The five most actively traded stocks each contains two time intervals during the day where the variance of increments can be fit by power law scaling in time. The fluctuations in return within these intervals follow asymptotic bi-exponential distributions. The autocorrelation function for increments vanishes rapidly, but decays slowly for absolute and squared increments. Based on these results, we propose an intraday stochastic model with linear variable diffusion coefficient as a lowest order approximation to the real dynamics of financial markets, and to test the effects of time averaging techniques typically used for financial time series analysis. We find that our model replicates major stylized facts associated with empirical financial time series. We also find that ensemble averaging techniques can be used to identify the underlying dynamics correctly, whereas time averages fail in this task. Our work indicates that ensemble average approaches will yield new insight into the study of financial markets' dynamics. Our proposed model also provides new insight into the modeling of financial markets dynamics in microscopic time scales.

  12. Evaluation of offshore stocking of Lake Trout in Lake Ontario

    USGS Publications Warehouse

    Lantry, B.F.; O'Gorman, R.; Strang, T.G.; Lantry, J.R.; Connerton, M.J.; Schanger, T.

    2011-01-01

    Restoration stocking of hatchery-reared lake trout Salvelinus namaycush has occurred in Lake Ontario since 1973. In U.S. waters, fish stocked through 1990 survived well and built a large adult population. Survival of yearlings stocked from shore declined during 1990–1995, and adult numbers fell during 1998–2005. Offshore stocking of lake trout was initiated in the late 1990s in response to its successful mitigation of predation losses to double-crested cormorants Phalacrocorax auritus and the results of earlier studies that suggested it would enhance survival in some cases. The current study was designed to test the relative effectiveness of three stocking methods at a time when poststocking survival for lake trout was quite low and losses due to fish predators was a suspected factor. The stocking methods tested during 2000–2002 included May offshore, May onshore, and June onshore. Visual observations during nearshore stockings and hydroacoustic observations of offshore stockings indicated that release methods were not a direct cause of fish mortality. Experimental stockings were replicated for 3 years at one site in the southwest and for 2 years at one site in the southeast. Offshore releases used a landing craft to transport hatchery trucks from 3 to 6 km offshore out to 55–60-m-deep water. For the southwest site, offshore stocking significantly enhanced poststocking survival. Among the three methods, survival ratios were 1.74 : 1.00 : 1.02 (May offshore : May onshore : June onshore). Although not statistically significant owing to the small samples, the trends were similar for the southeast site, with survival ratios of 1.67 : 1.00 : 0.72. Consistent trends across years and sites indicated that offshore stocking of yearling lake trout during 2000–2002 provided nearly a twofold enhancement in survival; however, this increase does not appear to be great enough to achieve the 12-fold enhancement necessary to return population abundance to restoration

  13. 17 CFR 230.416 - Securities to be issued as a result of stock splits, stock dividends and anti-dilution provisions...

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... statement, additional securities of the same class are issued or issuable as a result of a stock split or... to cover such additional securities resulting from the split of, or the stock dividend on, the... result of stock splits, stock dividends and anti-dilution provisions and interests to be issued...

  14. The risks and returns of stock investment in a financial market

    NASA Astrophysics Data System (ADS)

    Li, Jiang-Cheng; Mei, Dong-Cheng

    2013-03-01

    The risks and returns of stock investment are discussed via numerically simulating the mean escape time and the probability density function of stock price returns in the modified Heston model with time delay. Through analyzing the effects of delay time and initial position on the risks and returns of stock investment, the results indicate that: (i) There is an optimal delay time matching minimal risks of stock investment, maximal average stock price returns and strongest stability of stock price returns for strong elasticity of demand of stocks (EDS), but the opposite results for weak EDS; (ii) The increment of initial position recedes the risks of stock investment, strengthens the average stock price returns and enhances stability of stock price returns. Finally, the probability density function of stock price returns and the probability density function of volatility and the correlation function of stock price returns are compared with other literatures. In addition, good agreements are found between them.

  15. On the Feed-back Mechanism of Chinese Stock Markets

    NASA Astrophysics Data System (ADS)

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

    Feed-back models in the stock markets research imply an adjustment process toward investors' expectation for current information and past experiences. Error-correction and cointegration are often used to evaluate the long-run relation. The Efficient Capital Market Hypothesis, which had ignored the effect of the accumulation of information, cannot explain some anomalies such as bubbles and partial predictability in the stock markets. In order to investigate the feed-back mechanism and to determine an effective model, we use daily data of the stock index of two Chinese stock markets with the expectational model, which is one kind of geometric lag models. Tests and estimations of error-correction show that long-run equilibrium seems to be seldom achieved in Chinese stock markets. Our result clearly shows the common coefficient of expectations and fourth-order autoregressive disturbance exist in the two Chinese stock markets. Furthermore, we find the same coefficient of expectations has an autoregressive effect on disturbances in the two Chinese stock markets. Therefore the presence of such feed-back is also supported in Chinese stock markets.

  16. 12 CFR 209.3 - Cancellation of Reserve Bank stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 2 2011-01-01 2011-01-01 false Cancellation of Reserve Bank stock. 209.3 Section 209.3 Banks and Banking FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ISSUE AND CANCELLATION OF FEDERAL RESERVE BANK CAPITAL STOCK (REGULATION I) § 209.3 Cancellation...

  17. 27 CFR 46.221 - Floor stocks tax rates.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette... Floor stocks tax rate Small cigars $48.502 per thousand. Small cigarettes 30.83 per thousand. Large cigarettes 61/2 inch or less in length 64.74 per thousand. Large cigarettes more than 61/2 inch in length...

  18. 27 CFR 46.221 - Floor stocks tax rates.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette... Floor stocks tax rate Small cigars $48.502 per thousand. Small cigarettes 30.83 per thousand. Large cigarettes 6½ inch or less in length 64.74 per thousand. Large cigarettes more than 6½ inch in length...

  19. 27 CFR 46.221 - Floor stocks tax rates.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette... Floor stocks tax rate Small cigars $48.502 per thousand. Small cigarettes 30.83 per thousand. Large cigarettes 6½ inch or less in length 64.74 per thousand. Large cigarettes more than 6½ inch in length...

  20. 27 CFR 46.221 - Floor stocks tax rates.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette... Floor stocks tax rate Small cigars $48.502 per thousand. Small cigarettes 30.83 per thousand. Large cigarettes 61/2 inch or less in length 64.74 per thousand. Large cigarettes more than 61/2 inch in length...

  1. 27 CFR 46.221 - Floor stocks tax rates.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette... Floor stocks tax rate Small cigars $48.502 per thousand. Small cigarettes 30.83 per thousand. Large cigarettes 6½ inch or less in length 64.74 per thousand. Large cigarettes more than 6½ inch in length...

  2. 7 CFR 1216.9 - Farmers stock peanuts.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 7 Agriculture 10 2011-01-01 2011-01-01 false Farmers stock peanuts. 1216.9 Section 1216.9... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER Peanut Promotion, Research, and Information Order Definitions § 1216.9 Farmers stock...

  3. 7 CFR 1216.9 - Farmers stock peanuts.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Farmers stock peanuts. 1216.9 Section 1216.9... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER Peanut Promotion, Research, and Information Order Definitions § 1216.9 Farmers stock...

  4. 12 CFR 614.4335 - Borrower stock requirements.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Borrower stock requirements. 614.4335 Section 614.4335 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Loan Purchases and Sales § 614.4335 Borrower stock requirements. (a) In general. Except as provided...

  5. 26 CFR 1.422-2 - Incentive stock options defined.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... corporation employing such individual or of any related corporation of such corporation. (3) Amendment of option terms. Except as otherwise provided in § 1.424-1, the amendment of the terms of an incentive stock... receives 25,000 shares of R stock that previously were not outstanding. On July 1, 2005, R grants a...

  6. 27 CFR 6.99 - Stocking, rotation, and pricing service.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2012-04-01 2012-04-01 false Stocking, rotation, and pricing service. 6.99 Section 6.99 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY LIQUORS âTIED-HOUSEâ Exceptions § 6.99 Stocking, rotation,...

  7. 27 CFR 6.99 - Stocking, rotation, and pricing service.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2014-04-01 2014-04-01 false Stocking, rotation, and pricing service. 6.99 Section 6.99 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY ALCOHOL âTIED-HOUSEâ Exceptions § 6.99 Stocking, rotation,...

  8. 27 CFR 6.99 - Stocking, rotation, and pricing service.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2011-04-01 2011-04-01 false Stocking, rotation, and pricing service. 6.99 Section 6.99 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY LIQUORS âTIED-HOUSEâ Exceptions § 6.99 Stocking, rotation,...

  9. 27 CFR 6.99 - Stocking, rotation, and pricing service.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2013-04-01 2013-04-01 false Stocking, rotation, and pricing service. 6.99 Section 6.99 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY ALCOHOL âTIED-HOUSEâ Exceptions § 6.99 Stocking, rotation,...

  10. 12 CFR 616.6700 - Stock purchase requirements.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Stock purchase requirements. 616.6700 Section 616.6700 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LEASING § 616.6700 Stock purchase requirements. (a) Each System institution, except the Farm Credit Leasing Services...

  11. 32 CFR 807.4 - Availability and nonavailability of stock.

    Code of Federal Regulations, 2011 CFR

    2011-07-01

    ... 32 National Defense 6 2011-07-01 2011-07-01 false Availability and nonavailability of stock. 807.4 Section 807.4 National Defense Department of Defense (Continued) DEPARTMENT OF THE AIR FORCE ADMINISTRATION SALE TO THE PUBLIC § 807.4 Availability and nonavailability of stock. (a) Limit...

  12. 78 FR 66681 - Draft 2013 Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-11-06

    ..., blue whale (Central North Pacific, Eastern North Pacific), fin whale (Hawaii, CA/OR/WA), false killer...), northern fur seal, bearded seal, ringed seal, ribbon seal, Cook Inlet beluga whales, narwhal, killer whale... stocks), sperm whale, beaked whales (Baird's, Cuvier's, and Stejneger's), western and central stocks...

  13. 76 FR 52940 - Draft 2011 Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-08-24

    ...) stocks include all the large whale stocks except sperm whales and blue whales, and those small cetacean... false killer whale (75 FR 2853, 19 January 2010). Details on the Take Reduction Plan and its proposed..., bearded seal, ringed seal, ribbon seal, beluga whale (Beaufort Sea, eastern Chukchi Sea, eastern...

  14. Evolution of Shanghai STOCK Market Based on Maximal Spanning Trees

    NASA Astrophysics Data System (ADS)

    Yang, Chunxia; Shen, Ying; Xia, Bingying

    2013-01-01

    In this paper, using a moving window to scan through every stock price time series over a period from 2 January 2001 to 11 March 2011 and mutual information to measure the statistical interdependence between stock prices, we construct a corresponding weighted network for 501 Shanghai stocks in every given window. Next, we extract its maximal spanning tree and understand the structure variation of Shanghai stock market by analyzing the average path length, the influence of the center node and the p-value for every maximal spanning tree. A further analysis of the structure properties of maximal spanning trees over different periods of Shanghai stock market is carried out. All the obtained results indicate that the periods around 8 August 2005, 17 October 2007 and 25 December 2008 are turning points of Shanghai stock market, at turning points, the topology structure of the maximal spanning tree changes obviously: the degree of separation between nodes increases; the structure becomes looser; the influence of the center node gets smaller, and the degree distribution of the maximal spanning tree is no longer a power-law distribution. Lastly, we give an analysis of the variations of the single-step and multi-step survival ratios for all maximal spanning trees and find that two stocks are closely bonded and hard to be broken in a short term, on the contrary, no pair of stocks remains closely bonded for a long time.

  15. 12 CFR 239.25 - Contents of Stock Issuance Plans.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ...; (2) Provide that the aggregate amount of outstanding common stock of the subsidiary holding company owned or controlled by persons other than the subsidiary holding company's mutual holding company parent... company's total outstanding common stock (This provision may be omitted if the proposed issuance will...

  16. 12 CFR 239.25 - Contents of Stock Issuance Plans.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ...; (2) Provide that the aggregate amount of outstanding common stock of the subsidiary holding company owned or controlled by persons other than the subsidiary holding company's mutual holding company parent... company's total outstanding common stock (This provision may be omitted if the proposed issuance will...

  17. 12 CFR 239.25 - Contents of Stock Issuance Plans.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ...; (2) Provide that the aggregate amount of outstanding common stock of the subsidiary holding company owned or controlled by persons other than the subsidiary holding company's mutual holding company parent... company's total outstanding common stock (This provision may be omitted if the proposed issuance will...

  18. 46 CFR 67.31 - Stock or equity interest requirements.

    Code of Federal Regulations, 2012 CFR

    2012-10-01

    ... VESSELS DOCUMENTATION OF VESSELS Citizenship Requirements for Vessel Documentation § 67.31 Stock or equity interest requirements. (a) The stock or equity interest requirements for citizenship under this subpart... citizenship under this subpart, control of non-fishing industry vessels includes an absolute right to:...

  19. 46 CFR 67.31 - Stock or equity interest requirements.

    Code of Federal Regulations, 2011 CFR

    2011-10-01

    ... VESSELS DOCUMENTATION OF VESSELS Citizenship Requirements for Vessel Documentation § 67.31 Stock or equity interest requirements. (a) The stock or equity interest requirements for citizenship under this subpart... citizenship under this subpart, control of non-fishing industry vessels includes an absolute right to:...

  20. 46 CFR 67.31 - Stock or equity interest requirements.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... VESSELS DOCUMENTATION OF VESSELS Citizenship Requirements for Vessel Documentation § 67.31 Stock or equity interest requirements. (a) The stock or equity interest requirements for citizenship under this subpart... citizenship under this subpart, control of non-fishing industry vessels includes an absolute right to:...

  1. 46 CFR 67.31 - Stock or equity interest requirements.

    Code of Federal Regulations, 2014 CFR

    2014-10-01

    ... VESSELS DOCUMENTATION OF VESSELS Citizenship Requirements for Vessel Documentation § 67.31 Stock or equity interest requirements. (a) The stock or equity interest requirements for citizenship under this subpart... citizenship under this subpart, control of non-fishing industry vessels includes an absolute right to:...

  2. 46 CFR 67.31 - Stock or equity interest requirements.

    Code of Federal Regulations, 2013 CFR

    2013-10-01

    ... VESSELS DOCUMENTATION OF VESSELS Citizenship Requirements for Vessel Documentation § 67.31 Stock or equity interest requirements. (a) The stock or equity interest requirements for citizenship under this subpart... citizenship under this subpart, control of non-fishing industry vessels includes an absolute right to:...

  3. Analysis of stock market indices through multidimensional scaling

    NASA Astrophysics Data System (ADS)

    Machado, J. Tenreiro; Duarte, Fernando B.; Duarte, Gonçalo Monteiro

    2011-12-01

    We propose a graphical method to visualize possible time-varying correlations between fifteen stock market values. The method is useful for observing stable or emerging clusters of stock markets with similar behaviour. The graphs, originated from applying multidimensional scaling techniques (MDS), may also guide the construction of multivariate econometric models.

  4. 12 CFR 209.3 - Cancellation of Reserve Bank stock.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 12 Banks and Banking 2 2012-01-01 2012-01-01 false Cancellation of Reserve Bank stock. 209.3 Section 209.3 Banks and Banking FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ISSUE AND CANCELLATION OF FEDERAL RESERVE BANK CAPITAL STOCK (REGULATION I) § 209.3 Cancellation...

  5. 75 FR 46912 - Draft 2010 Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2010-08-04

    ... requests for copies of reports to: Chief, Marine Mammal and Sea Turtle Conservation Division, Office of... Caribbean Sea. The abundance estimate for the Western North Atlantic stock of harbor seals became outdated... conservation issues (Perrin et al. 2009). The former Hawaii stock of spinner dolphin was renamed as the...

  6. 26 CFR 1.552-3 - Stock ownership requirement.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... with respect to stock ownership are present at any time during the taxable year. (c) In determining whether the statutory conditions with respect to stock ownership are present at any time during the... the basis of the company's net worth, earning and dividend paying capacity, appreciation of...

  7. 26 CFR 1.552-3 - Stock ownership requirement.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... with respect to stock ownership are present at any time during the taxable year. (c) In determining whether the statutory conditions with respect to stock ownership are present at any time during the... the basis of the company's net worth, earning and dividend paying capacity, appreciation of...

  8. 26 CFR 1.552-3 - Stock ownership requirement.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... with respect to stock ownership are present at any time during the taxable year. (c) In determining whether the statutory conditions with respect to stock ownership are present at any time during the... the basis of the company's net worth, earning and dividend paying capacity, appreciation of...

  9. 26 CFR 1.1563-2 - Excluded stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... Smith (who also owns 5 percent of the total combined voting power of the stock of P). P satisfies the 50... is an officer of P and Smith is a principal stockholder of P, under subparagraph (2)(ii) of this paragraph the S stock owned by Jones and Smith is treated as not outstanding for purposes of...

  10. 78 FR 18235 - Unified Rule for Loss on Subsidiary Stock

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-26

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 Unified Rule for Loss on Subsidiary Stock CFR Correction 0 In Title..., the preferred stock is treated as entitled to a distribution no later than the time the...

  11. 17 CFR 256.152 - Fuel stock expenses undistributed.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Fuel stock expenses undistributed. 256.152 Section 256.152 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION... UTILITY HOLDING COMPANY ACT OF 1935 3. Current and Accrued Assets § 256.152 Fuel stock...

  12. 29 CFR 4043.64 - Extraordinary dividend or stock redemption.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Extraordinary dividend or stock redemption. 4043.64 Section 4043.64 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION PLAN... § 4043.64 Extraordinary dividend or stock redemption. (a) Reportable event and information...

  13. 41 CFR 101-27.209-1 - GSA stock items.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true GSA stock items. 101-27.209-1 Section 101-27.209-1 Public Contracts and Property Management Federal Property Management...-Management of Shelf-Life Materials § 101-27.209-1 GSA stock items. Shelf-life items that meet the...

  14. 26 CFR 1.554-1 - Stock ownership.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Stock ownership. 1.554-1 Section 1.554-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Foreign Personal Holding Companies § 1.554-1 Stock ownership. For regulations...

  15. In-Class Simulation of Pooling Safety Stock

    ERIC Educational Resources Information Center

    Bandy, D. Brent

    2005-01-01

    In managing business process flows, safety stock can be used to protect against stockouts due to demand variability. When more than one location is involved, the concept of aggregation enables the pooling of demands and associated inventories, resulting in improved service levels without increasing the total level of safety stock. This pooling of…

  16. 12 CFR 616.6700 - Stock purchase requirements.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 12 Banks and Banking 6 2011-01-01 2011-01-01 false Stock purchase requirements. 616.6700 Section 616.6700 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LEASING § 616.6700 Stock purchase requirements. (a) Each System institution, except the Farm Credit Leasing Services...

  17. 7 CFR 1216.9 - Farmers stock peanuts.

    Code of Federal Regulations, 2014 CFR

    2014-01-01

    ... 7 Agriculture 10 2014-01-01 2014-01-01 false Farmers stock peanuts. 1216.9 Section 1216.9... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER Peanut Promotion, Research, and Information Order Definitions § 1216.9 Farmers stock...

  18. 7 CFR 1216.9 - Farmers stock peanuts.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 7 Agriculture 10 2012-01-01 2012-01-01 false Farmers stock peanuts. 1216.9 Section 1216.9... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER Peanut Promotion, Research, and Information Order Definitions § 1216.9 Farmers stock...

  19. 7 CFR 1216.9 - Farmers stock peanuts.

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 7 Agriculture 10 2013-01-01 2013-01-01 false Farmers stock peanuts. 1216.9 Section 1216.9... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER Peanut Promotion, Research, and Information Order Definitions § 1216.9 Farmers stock...

  20. 12 CFR 575.8 - Contents of Stock Issuance Plans.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... MRPs put to a shareholder vote after a minority stock issuance that is conducted in accordance with the... issuance. (10) Provide that the issuance shall be conducted in compliance with 12 CFR part 563g and, to the... at the close of the stock issuance the association has more than thirty-five shareholders of...

  1. 32 CFR 807.4 - Availability and nonavailability of stock.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 32 National Defense 6 2010-07-01 2010-07-01 false Availability and nonavailability of stock. 807.4 Section 807.4 National Defense Department of Defense (Continued) DEPARTMENT OF THE AIR FORCE ADMINISTRATION SALE TO THE PUBLIC § 807.4 Availability and nonavailability of stock. (a) Limit...

  2. 26 CFR 1.1041-2 - Redemptions of stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... receipt of property in respect of such redeemed stock is not treated, under applicable tax law, as... receipt of property in respect of such redeemed stock is treated, under applicable tax law, as resulting... or former spouses—(1) Transferor spouse taxable. Notwithstanding applicable tax law, a...

  3. Complex dynamical behaviors of daily data series in stock exchange

    NASA Astrophysics Data System (ADS)

    Wang, Hongchun; Chen, Guanrong; Lü, Jinhu

    2004-12-01

    It is well known that many economic data series show chaotic behaviors. In this Letter, we further investigate the complex dynamical behaviors of the daily data series, including opening quotation, closing quotation, maximum price, minimum price, and total exchange quantum, in Shenzhen stock exchange and Shanghai stock exchange, which are two representative stock exchanges in mainland China. The maximum Lyapunov exponents, correlation dimensions, and frequency spectra are calculated for these time series. Our results indicate that some daily data series of stock exchanges display low-dimensional chaotic behaviors, and some other daily data series do not show any chaotic behavior. Moreover, we introduce a weighted one-rank local-region approach for predicting short-term daily data series of stock exchange.

  4. Outplanting Wyoming big sagebrush following wldfire: stock performance and economics

    USGS Publications Warehouse

    Dettweiler-Robinson, Eva; Bakker, Jonathan D.; Evans, James R.; Newsome, Heidi; Davies, G. Matt; Wirth, Troy A.; Pyke, David A.; Easterly, Richard T.; Salstrom, Debra; Dunwiddle, Peter W.

    2013-01-01

    mycorrhizal amendments. Most mortality occurred during the first year after planting; this period is the greatest barrier to establishment of sagebrush stock. The proportion of healthy stock in Year 1 was positively related to subsequent survival to Year 3. Costs were minimized, and survival maximized, by planting container stock or bare-root stock with a hydrogel dip. Our results indicate that outplanting is an ecologically and economically effective way of establishing Wyoming big sagebrush. However, statistical analyses were limited by the fact that data about initial variables (stock quality, site conditions, weather) were often unrecorded and by the lack of a replicated experimental design. Sharing consistent data and using an experimental approach would help land managers and restoration practitioners maximize the success of outplanting efforts.

  5. Portfolio optimization for index tracking modelling in Malaysia stock market

    NASA Astrophysics Data System (ADS)

    Siew, Lam Weng; Jaaman, Saiful Hafizah; Ismail, Hamizun

    2016-06-01

    Index tracking is an investment strategy in portfolio management which aims to construct an optimal portfolio to generate similar mean return with the stock market index mean return without purchasing all of the stocks that make up the index. The objective of this paper is to construct an optimal portfolio using the optimization model which adopts regression approach in tracking the benchmark stock market index return. In this study, the data consists of weekly price of stocks in Malaysia market index which is FTSE Bursa Malaysia Kuala Lumpur Composite Index from January 2010 until December 2013. The results of this study show that the optimal portfolio is able to track FBMKLCI Index at minimum tracking error of 1.0027% with 0.0290% excess mean return over the mean return of FBMKLCI Index. The significance of this study is to construct the optimal portfolio using optimization model which adopts regression approach in tracking the stock market index without purchasing all index components.

  6. Scaling behavior in ranking mobility of Chinese stock market

    NASA Astrophysics Data System (ADS)

    Wu, Ke; Xiong, Wanting; Weng, Xin; Wang, Yougui

    2014-08-01

    As an aggregate measure of the variations in individuals, the analysis of mobility provides a substantial and comprehensive perspective into the complexity of socio-economic systems. In this paper, we introduced the ranking mobility index to measure the ranking variations of the stocks in Chinese stock market over time. Using the daily data of 837 constituent stocks of the Shanghai A-Stock Composite Index from January 1, 2002 to December 31, 2012, we examined respectively the dependence of ranking mobility with respect to the absolute return, trading volume and turnover ratio on the sampling time interval. The scaling property is observed in all three relations. The fact of long relaxation times gives evidence of long memory property in the stock ranking orders.

  7. Spatial distribution of soil organic carbon stocks in France

    NASA Astrophysics Data System (ADS)

    Martin, M. P.; Wattenbach, M.; Smith, P.; Meersmans, J.; Jolivet, C.; Boulonne, L.; Arrouays, D.

    2011-05-01

    Soil organic carbon plays a major role in the global carbon budget, and can act as a source or a sink of atmospheric carbon, thereby possibly influencing the course of climate change. Changes in soil organic carbon (SOC) stocks are now taken into account in international negotiations regarding climate change. Consequently, developing sampling schemes and models for estimating the spatial distribution of SOC stocks is a priority. The French soil monitoring network has been established on a 16 km × 16 km grid and the first sampling campaign has recently been completed, providing around 2200 measurements of stocks of soil organic carbon, obtained through an in situ composite sampling, uniformly distributed over the French territory. We calibrated a boosted regression tree model on the observed stocks, modelling SOC stocks as a function of other variables such as climatic parameters, vegetation net primary productivity, soil properties and land use. The calibrated model was evaluated through cross-validation and eventually used for estimating SOC stocks for mainland France. Two other models were calibrated on forest and agricultural soils separately, in order to assess more precisely the influence of pedo-climatic variables on SOC for such soils. The boosted regression tree model showed good predictive ability, and enabled quantification of relationships between SOC stocks and pedo-climatic variables (plus their interactions) over the French territory. These relationships strongly depended on the land use, and more specifically, differed between forest soils and cultivated soil. The total estimate of SOC stocks in France was 3.260 ± 0.872 PgC for the first 30 cm. It was compared to another estimate, based on the previously published European soil organic carbon and bulk density maps, of 5.303 PgC. We demonstrate that the present estimate might better represent the actual SOC stock distributions of France, and consequently that the previously published approach at the

  8. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... required by paragraph (a) of this section for the period specified in 17 CFR 240.17a-4(b) of this chapter... 17 Commodity and Securities Exchanges 3 2011-04-01 2011-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities...

  9. 17 CFR 240.15g-2 - Penny stock disclosure document relating to the penny stock market.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... required by paragraph (a) of this section for the period specified in 17 CFR 240.17a-4(b) of this chapter... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities...

  10. Pattern-set generation algorithm for the one-dimensional multiple stock sizes cutting stock problem

    NASA Astrophysics Data System (ADS)

    Cui, Yaodong; Cui, Yi-Ping; Zhao, Zhigang

    2015-09-01

    A pattern-set generation algorithm (PSG) for the one-dimensional multiple stock sizes cutting stock problem (1DMSSCSP) is presented. The solution process contains two stages. In the first stage, the PSG solves the residual problems repeatedly to generate the patterns in the pattern set, where each residual problem is solved by the column-generation approach, and each pattern is generated by solving a single large object placement problem. In the second stage, the integer linear programming model of the 1DMSSCSP is solved using a commercial solver, where only the patterns in the pattern set are considered. The computational results of benchmark instances indicate that the PSG outperforms existing heuristic algorithms and rivals the exact algorithm in solution quality.

  11. Effect of Trader Composition on Stock Market

    NASA Astrophysics Data System (ADS)

    Wang, Mo-Gei; Wang, Xing-Yuan; Liu, Zhen-Zhen

    2011-05-01

    In this study, we build a double auction market model, which contains two types of agent traders, i.e., the noise traders and fundamentalists, to investigate the effect of the trader composition on the stock market. It is found that, the non-trivial Hurst exponent and the fat-tailed distribution of transaction prices can be observed at any ratio of the noise traders. Analyses on the price variation properties, including the Hurst exponent and the price variation region, show that these properties are stable when the ratio is moderate. However, the non-price variation properties, including the trading volume and the profitability of the two kinds of agents, do not keep stable untrivially in any interval of the ratio of noise traders.

  12. SRVAL. Stock-Recruitment Model VALidation Code

    SciTech Connect

    Christensen, S.W.

    1989-12-07

    SRVAL is a computer simulation model of the Hudson River striped bass population. It was designed to aid in assessing the validity of curve-fits of the linearized Ricker stock-recruitment model, modified to incorporate multiple-age spawners and to include an environmental variable, to variously processed annual catch-per-unit-effort (CPUE) statistics for a fish population. It is sometimes asserted that curve-fits of this kind can be used to determine the sensitivity of fish populations to such man-induced stresses as entrainment and impingement at power plants. SRVAL was developed to test such assertions and was utilized in testimony written in connection with the Hudson River Power Case (U. S. Environmental Protection Agency, Region II).

  13. A definition of depletion of fish stocks

    USGS Publications Warehouse

    Van Oosten, John

    1949-01-01

    Attention was focused on the need of a common and better understanding of the term depletion as applied to the fisheries in order to eliminate if possible the existing inexactness of thought on the subject. Depletion has been confused at various times with at least ten different ideas associated with it but which, as has has heen pointed out, are not synonymous at all. In defining depletion we must recognize that the term represents a condition and must not he confounded with the cause (overfishing) that leads to this condition or with the symptoms that identify it. Depletion was defined as a reduction, through overfishing, in the level of abundance of the exploitable segment of a stock that prevents the realization of the maximum productive capacity.

  14. Heavy crudes, stocks pose desalting problems

    SciTech Connect

    Bartley, D.

    1982-02-02

    The design of electrostatic desalters for crudes lighter than 30 API is well established and is no longer considered a problem. However, since 1970, the number of desalting applications involving heavy crudes (less than 20 API), syncrudes, and residual fuels has increased markedly. These stocks present unique problems that require additional design considerations. All produced crude oils, including synthetic crude from shale, tar sands, and coal liquefaction, contain impurities that adversely affect production and refining processes, the equipment used in these processes, and the final products. The most common of these impurities are water, salt, solids, metals, and sulfur. The desalting process consists of (1) adding water with a low salt content (preferably fresh) to the feedstock; (2) adequately mixing this added water with the feedstock, which already contains some quantities of salty water, sediment, and/or crystalline salt; and (3) extracting as much water as possible from the feedstock.

  15. Wildfires threaten mercury stocks in northern soils

    USGS Publications Warehouse

    Turetsky, M.R.; Harden, J.W.; Friedli, H.R.; Flannigan, M.; Payne, N.; Crock, J.; Radke, L.

    2006-01-01

    With climate change rapidly affecting northern forests and wetlands, mercury reserves once protected in cold, wet soils are being exposed to burning, likely triggering large releases of mercury to the atmosphere. We quantify organic soil mercury stocks and burn areas across western, boreal Canada for use in fire emission models that explore controls of burn area, consumption severity, and fuel loading on atmospheric mercury emissions. Though renowned as hotspots for the accumulation of mercury and its transformation to the toxic methylmercury, boreal wetlands might soon transition to hotspots for atmospheric mercury emissions. Estimates of circumboreal mercury emissions from this study are 15-fold greater than estimates that do not account for mercury stored in peat soils. Ongoing and projected increases in boreal wildfire activity due to climate change will increase atmospheric mercury emissions, contributing to the anthropogenic alteration of the global mercury cycle and exacerbating mercury toxicities for northern food chains. Copyright 2006 by the American Geophysical Union.

  16. Patient perceptions of stock footwear design features.

    PubMed

    Williams, A E; Nester, C J

    2006-04-01

    Patients with diseases which impact on foot health, for example diabetes and rheumatoid arthritis, are known to have some benefit from prescribed stock footwear with regards to clinical outcomes. Achieving this is not just about getting the footwear designed and fitted to meet the clinical needs, but it also requires that the patient wears the shoes. This means meeting the non-clinical needs or criteria of patients. The aim of this study was to compare perceptions of the same footwear between patients with diabetes and patients with rheumatoid arthritis (RA) with regard to specific design features. Fifty-four patients with RA and 40 patients with diabetes who required prescription footwear were asked to identify issues of importance, and to assess the features of five different pairs of stock footwear using a Likert scale scoring form. There was a difference between the RA and the diabetes groups with regards their overall requirements from the footwear with comfort being a priority in RA and style a priority for diabetes. Both groups rated the same footwear as overall best from the selection, but the scores suggest that there were features with the 'best' shoe which were not acceptable suggesting that even the 'best' shoe was a compromise This possibly indicates that existing footwear ranges do not meet all the patients' requirements. Patients have different perceptions with regard to what is important to them in terms of footwear with regards to the specific features of the footwear and one of the influences appears to be the underlying systemic disease. Patient-based criteria may be an important consideration in the design of the footwear.

  17. ss3sim: An R Package for Fisheries Stock Assessment Simulation with Stock Synthesis

    PubMed Central

    Anderson, Sean C.; Monnahan, Cole C.; Johnson, Kelli F.; Ono, Kotaro; Valero, Juan L.

    2014-01-01

    Simulation testing is an important approach to evaluating fishery stock assessment methods. In the last decade, the fisheries stock assessment modeling framework Stock Synthesis (SS3) has become widely used around the world. However, there lacks a generalized and scriptable framework for SS3 simulation testing. Here, we introduce ss3sim, an R package that facilitates reproducible, flexible, and rapid end-to-end simulation testing with SS3. ss3sim requires an existing SS3 model configuration along with plain-text control files describing alternative population dynamics, fishery properties, sampling scenarios, and assessment approaches. ss3sim then generates an underlying ‘truth’ from a specified operating model, samples from that truth, modifies and runs an estimation model, and synthesizes the results. The simulations can be run in parallel, reducing runtime, and the source code is free to be modified under an open-source MIT license. ss3sim is designed to explore structural differences between the underlying truth and assumptions of an estimation model, or between multiple estimation model configurations. For example, ss3sim can be used to answer questions about model misspecification, retrospective patterns, and the relative importance of different types of fisheries data. We demonstrate the software with an example, discuss how ss3sim complements other simulation software, and outline specific research questions that ss3sim could address. PMID:24699270

  18. The trading time risks of stock investment in stock price drop

    NASA Astrophysics Data System (ADS)

    Li, Jiang-Cheng; Tang, Nian-Sheng; Mei, Dong-Cheng; Li, Yun-Xian; Zhang, Wan

    2016-11-01

    This article investigates the trading time risk (TTR) of stock investment in the case of stock price drop of Dow Jones Industrial Average (ˆDJI) and Hushen300 data (CSI300), respectively. The escape time of stock price from the maximum to minimum in a data window length (DWL) is employed to measure the absolute TTR, the ratio of the escape time to data window length is defined as the relative TTR. Empirical probability density functions of the absolute and relative TTRs for the ˆDJI and CSI300 data evidence that (i) whenever the DWL increases, the absolute TTR increases, the relative TTR decreases otherwise; (ii) there is the monotonicity (or non-monotonicity) for the stability of the absolute (or relative) TTR; (iii) there is a peak distribution for shorter trading days and a two-peak distribution for longer trading days for the PDF of ratio; (iv) the trading days play an opposite role on the absolute (or relative) TTR and its stability between ˆDJI and CSI300 data.

  19. ss3sim: an R package for fisheries Stock Assessment simulation with stock synthesis.

    PubMed

    Anderson, Sean C; Monnahan, Cole C; Johnson, Kelli F; Ono, Kotaro; Valero, Juan L

    2014-01-01

    Simulation testing is an important approach to evaluating fishery stock assessment methods. In the last decade, the fisheries stock assessment modeling framework Stock Synthesis (SS3) has become widely used around the world. However, there lacks a generalized and scriptable framework for SS3 simulation testing. Here, we introduce ss3sim, an R package that facilitates reproducible, flexible, and rapid end-to-end simulation testing with SS3. ss3sim requires an existing SS3 model configuration along with plain-text control files describing alternative population dynamics, fishery properties, sampling scenarios, and assessment approaches. ss3sim then generates an underlying 'truth' from a specified operating model, samples from that truth, modifies and runs an estimation model, and synthesizes the results. The simulations can be run in parallel, reducing runtime, and the source code is free to be modified under an open-source MIT license. ss3sim is designed to explore structural differences between the underlying truth and assumptions of an estimation model, or between multiple estimation model configurations. For example, ss3sim can be used to answer questions about model misspecification, retrospective patterns, and the relative importance of different types of fisheries data. We demonstrate the software with an example, discuss how ss3sim complements other simulation software, and outline specific research questions that ss3sim could address.

  20. Linking soil functions to carbon fluxes and stocks

    NASA Astrophysics Data System (ADS)

    Olesen, Jørgen E.

    2014-05-01

    Farming practices causing declining returns and inputs of carbon (C) to soils pose threats to sustainable soil functioning by reducing availability of organic matter for soil microbial activities and by affecting soil structure, and soil C stocks that contribute to regulating greenhouse gas emissions. Declines in soil C also affect availability and storage capacity of a range of essential plant nutrients thus affecting needs for external inputs. Soil degradation is considered a serious problem in Europe and a large part of the degradation is caused by agricultural activity with intensive cultivation in arable and mixed farming system contributing to several soil threats. About 45% of European soils are estimated to have low SOM content, principally in southern Europe, but also in areas of France, UK and Germany. The European SOC stocks follow a clear north to south gradient with cooler temperatures favouring higher stocks. However, SOC stocks strongly depend on soil and land management, and there is thus a potential to both increase and lose SOC, although the potential to increase SOC strongly depends on incentives and structures for implementing improved management. Understanding the role of soil C may be better conceptualised by using a soil C flow and stocks concept to assess the impact of C management on crop productivity, soil organic C stocks and other ecosystem services. This concept distinguishes C flows and stocks, which may be hypothesized to have distinctly different effects on biological, chemical and physical soil functions. By separating the roles of carbon flows from the role of carbon stocks, it may become possible to better identify critical levels not only of soil carbon stocks, but also critical levels of carbon inputs, which directly relate to needs for crop and soil management measures. Such critical soil carbon stocks may be linked to soil mineralogy through complexed organic carbon on clay and silt surfaces. Critical levels of soil carbon

  1. A quantum-like approach to the stock market

    NASA Astrophysics Data System (ADS)

    Aerts, Diederik; D'Hooghe, Bart; Sozzo, Sandro

    2012-03-01

    Modern approaches to stock pricing in quantitative finance are typically founded on the Black-Scholes model and the underlying random walk hypothesis. Empirical data indicate that this hypothesis works well in stable situations but, in abrupt transitions such as during an economical crisis, the random walk model fails and alternative descriptions are needed. For this reason, several proposals have been recently forwarded which are based on the formalism of quantum mechanics. In this paper we apply the SCoP formalism, elaborated to provide an operational foundation of quantum mechanics, to the stock market. We argue that a stock market is an intrinsically contextual system where agents' decisions globally influence the market system and stocks prices, determining a nonclassical behavior. More specifically, we maintain that a given stock does not generally have a definite value, e.g., a price, but its value is actualized as a consequence of the contextual interactions in the trading process. This contextual influence is responsible of the non-Kolmogorovian quantumlike behavior of the market at a statistical level. Then, we propose a sphere model within our hidden measurement formalism that describes a buying/selling process of a stock and shows that it is intuitively reasonable to assume that the stock has not a definite price until it is traded. This result is relevant in our opinion since it provides a theoretical support to the use of quantum models in finance.

  2. Carbon stocks and soil sequestration rates of tropical riverine wetlands

    NASA Astrophysics Data System (ADS)

    Adame, M. F.; Santini, N. S.; Tovilla, C.; Vázquez-Lule, A.; Castro, L.; Guevara, M.

    2015-06-01

    Riverine wetlands are created and transformed by geomorphological processes that determine their vegetation composition, primary production and soil accretion, all of which are likely to influence C stocks. Here, we compared ecosystem C stocks (trees, soil and downed wood) and soil N stocks of different types of riverine wetlands (marsh, peat swamp forest and mangroves) whose distribution spans from an environment dominated by river forces to an estuarine environment dominated by coastal processes. We also estimated soil C sequestration rates of mangroves on the basis of soil C accumulation. We predicted that C stocks in mangroves and peat swamps would be larger than marshes, and that C, N stocks and C sequestration rates would be larger in the upper compared to the lower estuary. Mean C stocks in mangroves and peat swamps (784.5 ± 73.5 and 722.2 ± 63.6 MgC ha-1, respectively) were higher than those of marshes (336.5 ± 38.3 MgC ha-1). Soil C and N stocks of mangroves were highest in the upper estuary and decreased towards the lower estuary. C stock variability within mangroves was much lower in the upper estuary (range 744-912 MgC ha-1) compared to the intermediate and lower estuary (range 537-1115 MgC ha-1) probably as a result of a highly dynamic coastline. Soil C sequestration values were 1.3 ± 0.2 MgC ha-1 yr-1 and were similar across sites. Estimations of C stocks within large areas need to include spatial variability related to vegetation composition and geomorphological setting to accurately reflect variability within riverine wetlands.

  3. 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.

  4. Environmental analyse of soil organic carbon stock changes in Slovakia

    NASA Astrophysics Data System (ADS)

    Koco, Š.; Barančíková, G.; Skalský, R.; Tarasovičová, Z.; Gutteková, M.; Halas, J.; Makovníková, J.; Novákova, M.

    2012-04-01

    The content and quality of soil organic matter is one of the basic soil parameters on which soil production functioning depends as well as it is active in non production soil functions like an ecological one especially. Morphologic segmentation of Slovakia has significant influence of structure in using agricultural soil in specific areas of our territory. Also social changes of early 90´s of 20´th century made their impact on change of using of agricultural soil (transformation from large farms to smaller ones, decreasing the number of livestock). This research is studying changes of development of soil organic carbon stock (SOC) in agricultural soil of Slovakia as results of climatic as well as social and political changes which influenced agricultury since last 40 years. The main goal of this research is an analysis of soil organic carbon stock since 1970 until now at specific agroclimatic regions of Slovakia and statistic analysis of relation between modelled data of SOC stock and soil quality index value. Changes of SOC stock were evaluated on the basis SOC content modeling using RothC-26.3 model. From modeling of SOC stock results the outcome is that in that time the soil organic carbon stock was growing until middle 90´s years of 20´th century with the highest value in 1994. Since that year until new millennium SOC stock is slightly decreasing. After 2000 has slightly increased SOC stock so far. According to soil management SOC stock development on arable land is similar to overall evolution. In case of grasslands after slight growth of SOC stock since 1990 the stock is in decline. This development is result of transformational changes after 1989 which were specific at decreasing amount of organic carbon input from organic manure at grassland areas especially. At warmer agroclimatic regions where mollic fluvisols and chernozems are present and where are soils with good quality and steady soil organic matter (SOM) the amount of SOC in monitored time is

  5. Application of artificial neural network models and principal component analysis method in predicting stock prices on Tehran Stock Exchange

    NASA Astrophysics Data System (ADS)

    Zahedi, Javad; Rounaghi, Mohammad Mahdi

    2015-11-01

    Stock price changes are receiving the increasing attention of investors, especially those who have long-term aims. The present study intends to assess the predictability of prices on Tehran Stock Exchange through the application of artificial neural network models and principal component analysis method and using 20 accounting variables. Finally, goodness of fit for principal component analysis has been determined through real values, and the effective factors in Tehran Stock Exchange prices have been accurately predicted and modeled in the form of a new pattern consisting of all variables.

  6. 43 CFR 3815.7 - Mining claims subject to stock driveway withdrawals.

    Code of Federal Regulations, 2011 CFR

    2011-10-01

    ... 43 Public Lands: Interior 2 2011-10-01 2011-10-01 false Mining claims subject to stock driveway... SUBJECT TO LOCATION Mineral Locations in Stock Driveway Withdrawals § 3815.7 Mining claims subject to stock driveway withdrawals. Mining claims on lands within stock driveway withdrawals, located prior...

  7. 43 CFR 3815.7 - Mining claims subject to stock driveway withdrawals.

    Code of Federal Regulations, 2013 CFR

    2013-10-01

    ... 43 Public Lands: Interior 2 2013-10-01 2013-10-01 false Mining claims subject to stock driveway... SUBJECT TO LOCATION Mineral Locations in Stock Driveway Withdrawals § 3815.7 Mining claims subject to stock driveway withdrawals. Mining claims on lands within stock driveway withdrawals, located prior...

  8. 12 CFR 575.7 - Issuances of stock by savings association subsidiaries of mutual holding companies.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... restrictions. (1) No representations may be made in any manner in connection with the offer or sale of any... documents disseminated in connection with such stock. (2) The sale of minority stock of the reorganized stock savings association to be made under the minority stock issuance plan, including any sale in...

  9. 26 CFR 1.1244(c)-1 - Section 1244 stock defined.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... subparagraph (1) of this paragraph: Example 1. A taxpayer owns stock of Corporation X issued to him prior to... Corporation X. The stock received by the taxpayer in the exchange may not qualify as section 1244 stock even... taxpayer owns stock in Corporation X. Corporation X merges into Corporation Y. In exchange for his...

  10. 26 CFR 1.1244(c)-1 - Section 1244 stock defined.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... subparagraph (1) of this paragraph: Example 1. A taxpayer owns stock of Corporation X issued to him prior to... Corporation X. The stock received by the taxpayer in the exchange may not qualify as section 1244 stock even... taxpayer owns stock in Corporation X. Corporation X merges into Corporation Y. In exchange for his...

  11. 41 CFR 101-26.303 - Out-of-stock items.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Out-of-stock items. 101... PROGRAM 26.3-Procurement of GSA Stock Items § 101-26.303 Out-of-stock items. Generally, it is more advantageous to agencies if GSA backorders requisitions for out-of-stock items rather than cancels...

  12. 12 CFR 192.500. - What management stock benefit plans may I implement?

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 1 2013-01-01 2013-01-01 false What management stock benefit plans may I... management stock benefit plans may I implement? (a) During the 12 months after your conversion, you may implement a stock option plan (Option Plan), an employee stock ownership plan or other...

  13. Daily happiness and stock returns: Some international evidence

    NASA Astrophysics Data System (ADS)

    Zhang, Wei; Li, Xiao; Shen, Dehua; Teglio, Andrea

    2016-10-01

    In this paper, we examine the relations between the daily happiness sentiment extracted from Twitter and the stock market performance in 11 international stock markets. By partitioning this happiness sentiment into quintiles from the least to the happiest days, we first show that the contemporary correlation coefficients between happiness sentiment and index return in the 4 and most-happiness subgroups are higher than that in least, 2 and 3-happiness subgroups. Secondly, the happiness sentiment can provide additional explanatory power for index return in the most-happiness subgroup. Thirdly, the daily happiness can granger-cause the changes in index return for the majority of stock markets. Fourthly, we find that the index return and the range-based volatility of the most-happiness subgroup are larger than those of other subgroups. These results highlight the important role of social media in stock market.

  14. 37. Exterior view of main yard. Stock room building (left), ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    37. Exterior view of main yard. Stock room building (left), old machine shop (center), steel fabrication building (right), and traveling yard crane (middle fore). - Barbour Boat Works, Tryon Palace Drive, New Bern, Craven County, NC

  15. 26 CFR 1.382-4 - Constructive ownership of stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... circumstances described in section 382(l)(3)(B) (relating to stock acquired by reason of death, gift, divorce... section solely by reason of its description in this paragraph (d)(7)(i). (ii) Escrow, pledge, or...

  16. Fractal Analysis of Prime Indian STOCK Market Indices

    NASA Astrophysics Data System (ADS)

    Samadder, Swetadri; Ghosh, Koushik; Basu, Tapasendra

    2013-03-01

    The purpose of the present work is to study the fractal behaviour of prime Indian stock exchanges, namely Bombay Stock Exchange Sensitivity Index (BSE Sensex) and National Stock Exchange (NSE). To analyze the monofractality of these indices we have used Higuchi method and Katz method separately. By applying Mutifractal Detrended Fluctuation Analysis (MFDFA) technique we have calculated the generalized Hurst exponents, multifractal scaling exponents and generalized multifractal dimensions for the present indices. We have deduced Hölder exponents as well as singularity spectra for BSE and NSE. It has been observed that both the stock exchanges are possessing self-similarity at different small ranges separately and inhomogeneously. By comparing the multifractal behaviour of the BSE and NSE indices, we have found that the second one exhibits a richer multifractal feature than the first one.

  17. INTERIOR VIEW WITH STOCK INCLUDING THESE GATE AND GLOBE VALVES ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    INTERIOR VIEW WITH STOCK INCLUDING THESE GATE AND GLOBE VALVES FOR THE PULP AND PAPER INDUSTRIES READY FOR SHIPPING - Stockham Pipe & Fittings Company, Warehouse, 4000 Tenth Avenue North, Birmingham, Jefferson County, AL

  18. Stock Portfolio Structure of Individual Investors Infers Future Trading Behavior

    PubMed Central

    Bohlin, Ludvig; Rosvall, Martin

    2014-01-01

    Although the understanding of and motivation behind individual trading behavior is an important puzzle in finance, little is known about the connection between an investor's portfolio structure and her trading behavior in practice. In this paper, we investigate the relation between what stocks investors hold, and what stocks they buy, and show that investors with similar portfolio structures to a great extent trade in a similar way. With data from the central register of shareholdings in Sweden, we model the market in a similarity network, by considering investors as nodes, connected with links representing portfolio similarity. From the network, we find investor groups that not only identify different investment strategies, but also represent individual investors trading in a similar way. These findings suggest that the stock portfolios of investors hold meaningful information, which could be used to earn a better understanding of stock market dynamics. PMID:25068302

  19. FOUNDRY LANDSCAPE LOOKING WESTNORTHWEST FROM MALLEABLE STOCK YARD CRANE, SHOWING ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    FOUNDRY LANDSCAPE LOOKING WEST-NORTHWEST FROM MALLEABLE STOCK YARD CRANE, SHOWING CRANE MOTOR AND MALLEABLE CUPOLAS WITH OPEN TOPS AND EMISSION RECOVERY DUCTS. - Stockham Pipe & Fittings Company, 4000 Tenth Avenue North, Birmingham, Jefferson County, AL

  20. FOUNDRY LANDSCAPE LOOKING NORTHWEST FROM MALLEABLE STOCK YARD CRANE SHOWING ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    FOUNDRY LANDSCAPE LOOKING NORTHWEST FROM MALLEABLE STOCK YARD CRANE SHOWING THE MALLEABLE ANNEALING BUILDING AND THE BRASS FOUNDRY. - Stockham Pipe & Fittings Company, 4000 Tenth Avenue North, Birmingham, Jefferson County, AL

  1. FOUNDRY LANDSCAPE LOOKING WESTSOUTHWEST FROM MALLEABLE STOCK YARD CRANE SHOWING ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    FOUNDRY LANDSCAPE LOOKING WEST-SOUTHWEST FROM MALLEABLE STOCK YARD CRANE SHOWING SHED ROOF OF OLD MALLEABLE CUPOLA CHARGER. - Stockham Pipe & Fittings Company, 4000 Tenth Avenue North, Birmingham, Jefferson County, AL

  2. FOUNDRY LANDSCAPE LOOKING SOUTHWEST FROM MALLEABLE STOCK YARD CRANE SHOWING ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    FOUNDRY LANDSCAPE LOOKING SOUTHWEST FROM MALLEABLE STOCK YARD CRANE SHOWING CRANE RAILS, GREY IRON CUPOLA AND EMISSION RECOVERY SYSTEM. - Stockham Pipe & Fittings Company, 4000 Tenth Avenue North, Birmingham, Jefferson County, AL

  3. Smart medical stocking using memory polymer for chronic venous disorders.

    PubMed

    Kumar, Bipin; Hu, Jinlian; Pan, Ning

    2016-01-01

    Proper level of pressure or compression generated by medical stocking or hosiery is the key element for successful treatment or management of chronic venous disorders such as oedema, leg ulcers, etc. However achieving the recommended compression level and, more importantly, sustaining it using stockings has been a major challenge to the health practitioners supervising the treatment. This work aims to investigate and design a smart compression stocking using shape-memory polymer that allows externally controlling the pressure level in the wrapped position on the leg. Based on thermodynamical rubber theories, we first derived several criteria that have to be satisfied simultaneously in order to achieve the controlled pressure adjustment using external heat stimuli. We then presented a case where such a stocking is developed using a blend yarn consists of selected shape-memory polyurethane and nylon filaments. Extensive experimental work has also been conducted to demonstrate the feasibility and explore the influencing factors involved. PMID:26513411

  4. Corruption and stock market development: A quantitative approach

    NASA Astrophysics Data System (ADS)

    Bolgorian, Meysam

    2011-11-01

    Studying the relation between corruption and economic factors and examining its consequences for economic development have attracted many economists and physicists in recent years. The purpose of this paper is to focus on the role of stock market development on corruption. Analyzing a data set of corruption and stock market development measures such as market capitalization and total value of share trading for 46 countries around the world for the period 2007-2009, we examine the dependence of the Corruption Perception Index (CPI) on stock market development. Our findings suggest that there exists a power-law dependence between corruption and stock market development. We also observe a negative relation between level of corruption and financial system improvement.

  5. What the 2008 stock market crash means for retirement security.

    PubMed

    Butrica, Barbara A; Smith, Karen E; Toder, Eric J

    2010-10-01

    The 2008 stock market crash raises concerns about retirement security, especially since the increased prevalence of 401(k) and similar retirement saving plans means that more Americans are now stakeholders in the equity market than in the past. Using a dynamic microsimulation model, this paper explores the ability of alternate future stock market scenarios to restore retirement assets. The authors find that those near retirement could fare the worst because they have no time to recoup their losses. Mid-career workers could fare better because they have more time to rebuild their wealth. They may even gain income if they buy stocks at low prices and get above-average rates of return. High-income groups will be the most affected because they are most likely to have financial assets and to be invested in the stock market.

  6. Multilayer Stock Forecasting Model Using Fuzzy Time Series

    PubMed Central

    Javedani Sadaei, Hossein; Lee, Muhammad Hisyam

    2014-01-01

    After reviewing the vast body of literature on using FTS in stock market forecasting, certain deficiencies are distinguished in the hybridization of findings. In addition, the lack of constructive systematic framework, which can be helpful to indicate direction of growth in entire FTS forecasting systems, is outstanding. In this study, we propose a multilayer model for stock market forecasting including five logical significant layers. Every single layer has its detailed concern to assist forecast development by reconciling certain problems exclusively. To verify the model, a set of huge data containing Taiwan Stock Index (TAIEX), National Association of Securities Dealers Automated Quotations (NASDAQ), Dow Jones Industrial Average (DJI), and S&P 500 have been chosen as experimental datasets. The results indicate that the proposed methodology has the potential to be accepted as a framework for model development in stock market forecasts using FTS. PMID:24605058

  7. Genetic Stock Identification, Annual Report of Research 1986.

    SciTech Connect

    Milner, George B.

    1986-12-01

    The results of the first year's investigation of a 5-year plan to demonstrate and develop a coastwide genetic stock identification (GSI) program are presented. The accomplishments under four specific objectives are outlined below: 1. Improved Efficiency through Direct Entry of Electrophoretic Data into the Computer. A program is described that was developed for direct computer entry o f raw data. This program eliminated the need for key- to-tape processing previously required for estimating compositions of mixed fisheries, and thereby permits immediate use of collected data in estimating compositions of stock mixtures. 2. Expand and Strengthen Oregon Coastal and British Columbia Baseline Data Set. Electrophoretic screening of approximately 105 loci of samples from 22 stocks resulted in complete data sets for 35 polymorphic and 19 monomorphic loci. These new data are part of the baseline information currently used in estimating mixed stock compositions. 3. Conduct a Pilot GSI Study of Mixed Stock Canadian Troll Fisheries off the West Coast of Vancouver Island. A predominance of lower Columbia River (fall run), Canadian, and Puget Sound stocks was observed for both 1984 and 1985 fisheries . Stocks other than Columbia River, Canadian, and Puget Sound contributed an estimated 13 and 5 % respectively, to the 1984 and 1985 fisheries . 4. Validation of GSI for Estimating Mixed Fishery Stock Composition. Baseline data from the Columbia River southward were used to simulate nor them and central California fisheries . These simulations provided estimates of accuracy and precision for mixed sample sizes ranging from 250 to 1,000 individuals. Sacramento River stocks had a heavier weighting in the central (89%) than in the northern (25%) fishery. Accuracy and precision increased for both fisheries as sample sizes increased and also were better for those estimates that were over 5%. Extrapolations from these estimates indicated that sample sizes of 2,320 and 2,869 would be

  8. Soccer and stock market risk: empirical evidence from the Istanbul Stock Exchange.

    PubMed

    Berument, M Hakan; Ceylan, Nildag Basak

    2013-06-01

    There is an emerging but important literature on the effects of sport events such as soccer on stock market returns. After a soccer team's win, agents discount future events more favorably and increase risk tolerance. Similarly, after a loss, risk tolerance decreases. This paper directly assesses risk tolerance after a sports event by using daily data from the three major soccer teams in Turkey (Beşiktaşç Fenerbahge and Galatasaray). Results provide evidence that risk tolerance increases after a win, but similar patterns were not found after a loss.

  9. How construction spending impacts upon utility stock prices

    SciTech Connect

    Randall, K.F.

    1984-03-15

    As utility stock price to book value ratios deviate from unity, the effect of utility capital spending changes. In this article, careful application of the discounted cash-flow model clearly reveals the relationship between investor stock pricing behavior and growth in construction spending. Upon an examination of the sometimes conflicting interests of utility shareholders and customers, the author suggests a strategy for ensuring that utility management and regulators are free to pursue construction programs best suited to customer needs.

  10. Quantifying price fluctuations in the Brazilian stock market

    NASA Astrophysics Data System (ADS)

    Tabak, B. M.; Takami, M. Y.; Cajueiro, D. O.; Petitinga, A.

    2009-01-01

    This paper investigates price fluctuations in the Brazilian stock market. We employ a recently developed methodology to test whether the Brazilian stock price returns present a power law distribution and find that we cannot reject such behavior. Empirical results for sub-partitions of the time series suggests that for most of the time the power law is not rejected, but that in some cases the data set does not conform with a power law distribution.

  11. Impaired fertility in T-stock female mice after superovulation

    SciTech Connect

    Wyrobek, A J; Bishop, J B; Marchetti, F; Zudova, D

    2003-12-05

    Superovulation of female mice with exogenous gonadotrophins is routinely used for increasing the number of eggs ovulated by each female in reproductive and developmental studies. We report an unusual effect of superovulation on fertilization in mice. In vivo matings of superovulated T-stock females with B6C3F1 males resulted in a 2-fold reduction (P<0.001) in the frequencies of fertilized eggs compared to control B6C3F1 matings. In addition, {approx}22 hr after mating only 15% of fertilized eggs recovered in T-stock females had reached the metaphase stage of the first cleavage division versus 87% in B6C3F1 females (P < 0.0001). Matings with T-stock males did not improve the reproductive performance of T-stock females. To investigate the possible cause(s) for the impaired fertilization and zygotic development, the experiments were repeated using in vitro fertilization. Under these conditions, the frequencies of fertilized eggs were not different in superovulated T-stock and B6C3F1 females (51.7% {+-} 6.0 and 64.5% {+-}3.8, P=0.10). There was a 7-fold increase in the frequencies of fertilized T-stock eggs that completed the first cell cycle of development after in vitro versus in vivo fertilization. These results rule out an intrinsic deficiency of the T-stock oocyte as the main reason for the impaired fertility after in vivo matings and suggest that superovulation of T-stock females induces a hostile oviductal and uterine environment with dramatic effects on fertilization and zygotic development.

  12. Preparation of cell cultures and vaccinia virus stocks.

    PubMed

    Earl, P L; Cooper, N; Wyatt, L S; Moss, B; Carroll, M W

    2001-05-01

    This unit describes the maintenance of cell lines used with vaccinia virus, both in monolayer cultures and in suspension. The suspended cell culture is then used in the preparation of vaccinia virus stocks. The preparation of chick embryo fibroblasts (CEF) is also presented for use in the production of the highly attenuated and host range-restricted modified vaccinia virus Ankara (MVA) strain of vaccinia virus. Additionally, support protocols are presented for the titration of standard and MVA vaccinia virus stocks.

  13. Modeling the stock market prior to large crashes

    NASA Astrophysics Data System (ADS)

    Johansen, A.; Sornette, D.

    We propose that the minimal requirements for a model of stock market price fluctuations should comprise time asymmetry, robustness with respect to connectivity between agents, ``bounded rationality'' and a probabilistic description. We also compare extensively two previously proposed models of log-periodic behavior of the stock market index prior to a large crash. We find that the model which follows the above requirements outperforms the other with a high statistical significance.

  14. [Computerized management of a stock of blood products].

    PubMed

    Girard, M; Bazin, P

    1983-04-01

    We describe in this paper the management of the stock of perishable products in the Centre Departemental de Transfusion Sanguine des Hauts-de-Seine. The use of computer and Codabar labels enables a complete no-transcription system. The logical organisation of stock allows a better response to the specific needs of our customers. The progressive development of programmation enables a good adaptation of working methods and makes the setting of the system much easier in the blood bank. PMID:6879041

  15. Prefabricated stock trays for impression of auricular region.

    PubMed

    Vibha, Shetty; Anandkrishna, G N; Anupam, Purwar; Namratha, N

    2010-06-01

    The conventional methods of impression making for maxillofacial defects are cumbersome and time consuming for both patient and operator. This study focuses upon standardizing and simplifying the impression making methodology for auricular prosthesis with the help of prefabricated stock trays for auricular region. The stock trays were designed on positive replicas of anatomical structures, broadly divided into long and narrow, short and broad and long and broad ear. For each stock tray, impressions of auricle, of patients of different morphology were made with plastic funnels of different shape and size ensuring at least 6 mm of space between the anatomical part and inner surface of funnel and master cast was obtained. Subsequent adaptation of wax was done and fabrications of stock stainless steel trays were done. A standardized stock tray for making of auricular impressions was developed. From this innovative technical procedure it is possible to get an accurate impression of auricular defects now by the use of prefabricated stock trays rather than the cumbersome conventional method.

  16. Stock dynamics and emission pathways of the global aluminium cycle

    NASA Astrophysics Data System (ADS)

    Liu, Gang; Bangs, Colton E.; Müller, Daniel B.

    2013-04-01

    Climate change mitigation in the materials sector faces a twin challenge: satisfying rapidly rising global demand for materials while significantly curbing greenhouse-gas emissions. Process efficiency improvement and recycling can contribute to reducing emissions per material output; however, long-term material demand and scrap availability for recycling depend fundamentally on the dynamics of societies' stocks of products in use, an issue that has been largely neglected in climate science. Here, we show that aluminium in-use stock patterns set essential boundary conditions for future emission pathways, which has significant implications for mitigation priority setting. If developing countries follow industrialized countries in their aluminium stock patterns, a 50% emission reduction by 2050 below 2000 levels cannot be reached even under very optimistic recycling and technology assumptions. The target can be reached only if future global per-capita aluminium stocks saturate at a level much lower than that in present major industrialized countries. As long as global in-use stocks are growing rapidly, radical new technologies in primary production (for example, inert anode and carbon capture and storage) have the greatest impact in emission reduction; however, their window of opportunity is closing once the stocks begin to saturate and the largest reduction potential shifts to post-consumer scrap recycling.

  17. Scaling and Predictability in Stock Markets: A Comparative Study

    PubMed Central

    Zhang, Huishu; Wei, Jianrong; Huang, Jiping

    2014-01-01

    Most people who invest in stock markets want to be rich, thus, many technical methods have been created to beat the market. If one knows the predictability of the price series in different markets, it would be easier for him/her to make the technical analysis, at least to some extent. Here we use one of the most basic sold-and-bought trading strategies to establish the profit landscape, and then calculate the parameters to characterize the strength of predictability. According to the analysis of scaling of the profit landscape, we find that the Chinese individual stocks are harder to predict than US ones, and the individual stocks are harder to predict than indexes in both Chinese stock market and US stock market. Since the Chinese (US) stock market is a representative of emerging (developed) markets, our comparative study on the markets of these two countries is of potential value not only for conducting technical analysis, but also for understanding physical mechanisms of different kinds of markets in terms of scaling. PMID:24632944

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

    NASA Astrophysics Data System (ADS)

    Teh, Boon Kin; Cheong, Siew Ann

    2015-10-01

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

  19. Atlantic salmon brood stock management and breeding handbook

    USGS Publications Warehouse

    Kincaid, Harold L.; Stanley, Jon G.

    1989-01-01

    Anadromus runs of Atlantic salmon have been restored to the Connecticut, Merrimack, Pawcatuck, Penobscot, and St. Croix rivers in New England by the stocking of more than 8 million smolts since 1948. Fish-breeding methods have been developed that minimize inbreeding and domestication and enhance natural selection. Methods are available to advance the maturation of brood stock, control the sex of production lots and store gametes. Current hatchery practices emphasize the use of sea-run brood stock trapped upon return to the rivers and a limited number of captive brood stock and rejuvenated kelts. Fish are allowed to mature naturally, after which they are spawned and incubated artificially. Generally, 1-year smolts are produced, and excess fish are stocked as fry in headwater streams. Smolts are stocked during periods of rising water in spring. Self-release pools are planned that enable smolts to choose the emigration time. Culturists keep good records that permit evaluation of the performance of strains and the effects of breeding practices. As Atlantic salmon populations expand, culturists must use sound breeding methods that enhance biotic potential while maintaining genetic diversity and protecting unique gene pools.

  20. Scaling and predictability in stock markets: a comparative study.

    PubMed

    Zhang, Huishu; Wei, Jianrong; Huang, Jiping

    2014-01-01

    Most people who invest in stock markets want to be rich, thus, many technical methods have been created to beat the market. If one knows the predictability of the price series in different markets, it would be easier for him/her to make the technical analysis, at least to some extent. Here we use one of the most basic sold-and-bought trading strategies to establish the profit landscape, and then calculate the parameters to characterize the strength of predictability. According to the analysis of scaling of the profit landscape, we find that the Chinese individual stocks are harder to predict than US ones, and the individual stocks are harder to predict than indexes in both Chinese stock market and US stock market. Since the Chinese (US) stock market is a representative of emerging (developed) markets, our comparative study on the markets of these two countries is of potential value not only for conducting technical analysis, but also for understanding physical mechanisms of different kinds of markets in terms of scaling. PMID:24632944

  1. Association between Stock Market Gains and Losses and Google Searches

    PubMed Central

    Arditi, Eli; Yechiam, Eldad; Zahavi, Gal

    2015-01-01

    Experimental studies in the area of Psychology and Behavioral Economics have suggested that people change their search pattern in response to positive and negative events. Using Internet search data provided by Google, we investigated the relationship between stock-specific events and related Google searches. We studied daily data from 13 stocks from the Dow-Jones and NASDAQ100 indices, over a period of 4 trading years. Focusing on periods in which stocks were extensively searched (Intensive Search Periods), we found a correlation between the magnitude of stock returns at the beginning of the period and the volume, peak, and duration of search generated during the period. This relation between magnitudes of stock returns and subsequent searches was considerably magnified in periods following negative stock returns. Yet, we did not find that intensive search periods following losses were associated with more Google searches than periods following gains. Thus, rather than increasing search, losses improved the fit between people’s search behavior and the extent of real-world events triggering the search. The findings demonstrate the robustness of the attentional effect of losses. PMID:26513371

  2. To stock or not to stock? Assessing restoration potential of a remnant American shad spawning run with hatchery supplementation

    USGS Publications Warehouse

    Bailey, Michael M.; Zydlewski, Joseph

    2013-01-01

    Hatchery supplementation has been widely used as a restoration technique for American Shad Alosa sapidissima on the East Coast of the USA, but results have been equivocal. In the Penobscot River, Maine, dam removals and other improvements to fish passage will likely reestablish access to the majority of this species’ historic spawning habitat. Additional efforts being considered include the stocking of larval American Shad. The decision about whether to stock a river system undergoing restoration should be made after evaluating the probability of natural recolonization and examining the costs and benefits of potentially accelerating recovery using a stocking program. However, appropriate evaluation can be confounded by a dearth of information about the starting population size and age structure of the remnant American Shad spawning run in the river. We used the Penobscot River as a case study to assess the theoretical sensitivity of recovery time to either scenario (stocking or not) by building a deterministic model of an American Shad population. This model is based on the best available estimates of size at age, fecundity, rate of iteroparity, and recruitment. Density dependence was imposed, such that the population reached a plateau at an arbitrary recovery goal of 633,000 spawning adults. Stocking had a strong accelerating effect on the time to modeled recovery (as measured by the time to reach 50% of the recovery goal) in the base model, but stocking had diminishing effects with larger population sizes. There is a diminishing return to stocking when the starting population is modestly increased. With a low starting population (a spawning run of 1,000), supplementation with 12 million larvae annually accelerated modeled recovery by 12 years. Only a 2-year acceleration was observed if the starting population was 15,000. Such a heuristic model may aid managers in assessing the costs and benefits of stocking by incorporating a structured decision framework.

  3. Does the singular value decomposition entropy have predictive power for stock market? - Evidence from the Shenzhen stock market

    NASA Astrophysics Data System (ADS)

    Gu, Rongbao; Xiong, Wei; Li, Xinjie

    2015-12-01

    This paper analyzes the predictive ability of the singular value decomposition entropy for the Shenzhen Component Index based on different scales. It is found that, the predictive ability of the entropy for the index is affected by the width of moving time windows and the structural break in stock market. By moving time windows with one year, the predictive power of singular value decomposition entropy of Shenzhen stock market for its component index is found after the reform of non-tradable shares.

  4. Heater test 1, Climax Stock granite, Nevada

    SciTech Connect

    Montan, D.N.; Bradkin, W.E.

    1984-10-01

    We conducted a series of in-situ tests in the Climax Stock, an intrusive granite formation at the Nevada Test Site, to validate the concept of housing a nuclear waste repository in granitic crystalline rock. The thermal properties of the granite were measured with resistance heaters and thermocouple frames that had been emplaced in drilled holes in the floor of a drift 420 m below the surface. Data analysis was performed primarily by comparing the measured and calculated temperature histories, varying conductivity and diffusivity in the calculations until reasonable agreement was achieved. The best-fit value for in-situ conductivity was approximately 3.1 W/m x K, and the deduced value for in-situ diffusivity was approximately 1.2 mm{sup 2}/s. Anisotropic effects in the thermal field were less than 10%. Permeability was determined by sealing off portions of the drilled holes, using inflatable rubber packers and an air-pressurization system. We then compared the resulting decay in pressure with analytic solutions of the pressure loss from a cylindrical source in an infinite isotropic medium, obtaining a permeability of approximately 1 nanodarcy (nD) at about 30{sup 0}C. As the temperature increased, the permeability decreased to about 0.2 nD at about 50{sup 0}C and became too small to measure (<0.02 nD) at higher temperatures. These tests provided new data on the in-situ properties of a granite typical of the Basin and Range province and significantly advanced our understanding of and ability to perform in-situ thermal and permeability measurements. This knowledge will be of considerable value for future spent-fuel tests.

  5. Multiscale Detrended Cross-Correlation Analysis of STOCK Markets

    NASA Astrophysics Data System (ADS)

    Yin, Yi; Shang, Pengjian

    2014-06-01

    In this paper, we employ the detrended cross-correlation analysis (DCCA) to investigate the cross-correlations between different stock markets. We report the results of cross-correlated behaviors in US, Chinese and European stock markets in period 1997-2012 by using DCCA method. The DCCA shows the cross-correlated behaviors of intra-regional and inter-regional stock markets in the short and long term which display the similarities and differences of cross-correlated behaviors simply and roughly and the persistence of cross-correlated behaviors of fluctuations. Then, because of the limitation and inapplicability of DCCA method, we propose multiscale detrended cross-correlation analysis (MSDCCA) method to avoid "a priori" selecting the ranges of scales over which two coefficients of the classical DCCA method are identified, and employ MSDCCA to reanalyze these cross-correlations to exhibit some important details such as the existence and position of minimum, maximum and bimodal distribution which are lost if the scale structure is described by two coefficients only and essential differences and similarities in the scale structures of cross-correlation of intra-regional and inter-regional markets. More statistical characteristics of cross-correlation obtained by MSDCCA method help us to understand how two different stock markets influence each other and to analyze the influence from thus two inter-regional markets on the cross-correlation in detail, thus we get a richer and more detailed knowledge of the complex evolutions of dynamics of the cross-correlations between stock markets. The application of MSDCCA is important to promote our understanding of the internal mechanisms and structures of financial markets and helps to forecast the stock indices based on our current results demonstrated the cross-correlations between stock indices. We also discuss the MSDCCA methods of secant rolling window with different sizes and, lastly, provide some relevant implications and

  6. Geography and distance effect on financial dynamics in the Chinese stock market

    NASA Astrophysics Data System (ADS)

    Li, Xing; Qiu, Tian; Chen, Guang; Zhong, Li-Xin; Jiang, Xiong-Fei

    2016-09-01

    Geography effect is investigated for the Chinese stock market including the Shanghai and Shenzhen stock markets, based on the daily data of individual stocks. The stocks in the Shanghai city and the Guangdong province are found to greatly contribute to the Shanghai and Shenzhen markets in the geographical sector, respectively. By investigating a geographical correlation on a geographical parameter, the stock location is found to have an impact on the financial dynamics, except for the financial crisis time of the Shenzhen market. Stock distance effect is further studied, with the probability of the short distance observed to be much greater than that of the long distance. The distance is found to only affect the stock correlation of the Shanghai stock market, but has no effect on the Shenzhen stock market.

  7. Breathing life into fisheries stock assessments with citizen science.

    PubMed

    Fairclough, D V; Brown, J I; Carlish, B J; Crisafulli, B M; Keay, I S

    2014-01-01

    Citizen science offers a potentially cost-effective way for researchers to obtain large data sets over large spatial scales. However, it is not used widely to support biological data collection for fisheries stock assessments. Overfishing of demersal fishes along 1,000 km of the west Australian coast led to restrictive management to recover stocks. This diminished opportunities for scientists to cost-effectively monitor stock recovery via fishery-dependent sampling, particularly of the recreational fishing sector. As fishery-independent methods would be too expensive and logistically-challenging to implement, a citizen science program, Send us your skeletons (SUYS), was developed. SUYS asks recreational fishers to voluntarily donate fish skeletons of important species from their catch to allow biological data extraction by scientists to produce age structures and conduct stock assessment analyses. During SUYS, recreational fisher involvement, sample sizes and spatial and temporal coverage of samples have dramatically increased, while the collection cost per skeleton has declined substantially. SUYS is ensuring sampling objectives for stock assessments are achieved via fishery-dependent collection and reliable and timely scientific advice can be provided to managers. The program is also encouraging public ownership through involvement in the monitoring process, which can lead to greater acceptance of management decisions. PMID:25431103

  8. Prediction of stock market characteristics using neural networks

    NASA Astrophysics Data System (ADS)

    Pandya, Abhijit S.; Kondo, Tadashi; Shah, Trupti U.; Gandhi, Viraf R.

    1999-03-01

    International stocks trading, currency and derivative contracts play an increasingly important role for many investors. Neural network is playing a dominant role in predicting the trends in stock markets and in currency speculation. In most economic applications, the success rate using neural networks is limited to 70 - 80%. By means of the new approach of GMDH (Group Method of Data Handling) neural network predictions can be improved further by 10 - 15%. It was observed in our study, that using GMDH for short, noisy or inaccurate data sample resulted in the best-simplified model. In the GMDH model accuracy of prediction is higher and the structure is simpler than that of the usual full physical model. As an example, prediction of the activity on the stock exchange in New York was considered. On the basis of observations in the period of Jan '95 to July '98, several variables of the stock market (S&P 500, Small Cap, Dow Jones, etc.) were predicted. A model portfolio using various stocks (Amgen, Merck, Office Depot, etc.) was built and its performance was evaluated based on neural network forecasting of the closing prices. Comparison of results was made with various neural network models such as Multilayer Perceptrons with Back Propagation, and the GMDH neural network. Variations of GMDH were studied and analysis of their performance is reported in the paper.

  9. Ecosystem Carbon Stocks of Intertidal Wetlands in Singapore

    NASA Astrophysics Data System (ADS)

    Phang, V. X. H.; Friess, D.; Chou, L. M.

    2014-12-01

    Mangrove forests and seagrass meadows provide numerous ecosystem services, with huge recent interest in their carbon sequestration and storage value. Mangrove forests and seagrass meadows as well as mudflats and sandbars form a continuum of intertidal wetlands, but studies that consider these spatially-linked habitats as a whole are limited. This paper presents the results of a field-based and remote sensing carbon stock assessment, including the first study of the ecosystem carbon stocks of these adjacent habitats in the tropics. Aboveground, belowground and soil organic carbon pools were quantified at Chek Jawa, an intertidal wetland in Singapore. Total ecosystem carbon stocks averaged 499 Mg C ha-1 in the mangrove forest and 140 Mg C ha-1 in the seagrass meadow. Soil organic carbon dominated the total storage in both habitats. In the adjacent mudflats and sandbars, soil organic carbon averaged 143 and 124 Mg C ha-1 respectively. High amount of carbon stored in soil demonstrate the role of intertidal wetlands in sequestering large amount of carbon in sediments accumulated over millennia. High-resolution remote sensing imagery was used to create spatial models that upscaled field-based carbon measurements to the national scale. Field-based data and spatial modeling of ecosystem carbon stocks to the entire island through remote sensing provides a large-scale and holistic carbon stock value, important for the understanding and management of these threatened intertidal ecosystems.

  10. STOCK Market Differences in Correlation-Based Weighted Network

    NASA Astrophysics Data System (ADS)

    Youn, Janghyuk; Lee, Junghoon; Chang, Woojin

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

  11. The overnight effect on the Taiwan stock market

    NASA Astrophysics Data System (ADS)

    Tsai, Kuo-Ting; Lih, Jiann-Shing; Ko, Jing-Yuan

    2012-12-01

    This study examines statistical regularities among three components of stocks and indices: daytime (trading hour) return, overnight (off-hour session) return, and total (close-to-close) return. Owing to the fact that the Taiwan Stock Exchange (TWSE) has the longest non-trading periods among major markets, the TWSE is selected to explore the correlation among the three components and compare it with major markets such as the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotation (NASDAQ). Analysis results indicate a negative cross correlation between the sign of daytime return and the sign of overnight return; possibly explaining why most stocks feature a negative cross correlation between daytime return and overnight return [F. Wang, S.-J. Shieh, S. Havlin, H.E. Stanley, Statistical analysis of the overnight and daytime return, Phys. Rev. E 79 (2009) 056109]. Additionally, the cross correlation between the magnitude of returns is analyzed. According to those results, a larger magnitude of overnight return implies a higher probability that the sign of the following daytime return is the opposite of the sign of overnight return. Namely, the predictability of daytime return might be improved when a stock undergoes a large magnitude of overnight return. Furthermore, the cross correlations of 29 indices of worldwide markets are discussed.

  12. Spillover effects of oil price shocks across stock markets

    NASA Astrophysics Data System (ADS)

    Ng, Zhan Jian; Sek, Siok Kun

    2014-12-01

    Oil price shock can impose detrimental effects to an economy. In this study, we empirically study the spillover effects of oil price shock on determining volatilities of stock markets across the main oil importing and oil producing countries. In particular, we are interested to compare the relative impact of oil price shock on the volatilities of stock markets and how each stock market reacts to oil price shock for oil importing and oil producing countries. We focus the study in four main oil importer and four oil producers respectively using the daily data starting from January 2009 to December 2013. The multivariate GARCH(1,1) model is applied for the purpose of this study. The results of the study suggest that there exist spillover effect between crude oil price and stock returns for all the countries. The short run persistency of spillover effect in oil-exporting countries is lower than oil-importing countries but the long run persistency of spillover effect in oil-exporting countries is higher than oil-importing countries. In general the short run persistency is smaller and the long run persistency is very high. The results hold for volatility of oil price and stock returns and also spillover volatility in all countries.

  13. Measuring biomass and carbon stock in resprouting woody plants.

    PubMed

    Matula, Radim; Damborská, Lenka; Nečasová, Monika; Geršl, Milan; Šrámek, Martin

    2015-01-01

    Resprouting multi-stemmed woody plants form an important component of the woody vegetation in many ecosystems, but a clear methodology for reliable measurement of their size and quick, non-destructive estimation of their woody biomass and carbon stock is lacking. Our goal was to find a minimum number of sprouts, i.e., the most easily obtainable, and sprout parameters that should be measured for accurate sprout biomass and carbon stock estimates. Using data for 5 common temperate woody species, we modelled carbon stock and sprout biomass as a function of an increasing number of sprouts in an interaction with different sprout parameters. The mean basal diameter of only two to five of the thickest sprouts and the basal diameter and DBH of the thickest sprouts per stump proved to be accurate estimators for the total sprout biomass of the individual resprouters and the populations of resprouters, respectively. Carbon stock estimates were strongly correlated with biomass estimates, but relative carbon content varied among species. Our study demonstrated that the size of the resprouters can be easily measured, and their biomass and carbon stock estimated; therefore, resprouters can be simply incorporated into studies of woody vegetation. PMID:25719601

  14. Measuring Biomass and Carbon Stock in Resprouting Woody Plants

    PubMed Central

    Matula, Radim; Damborská, Lenka; Nečasová, Monika; Geršl, Milan; Šrámek, Martin

    2015-01-01

    Resprouting multi-stemmed woody plants form an important component of the woody vegetation in many ecosystems, but a clear methodology for reliable measurement of their size and quick, non-destructive estimation of their woody biomass and carbon stock is lacking. Our goal was to find a minimum number of sprouts, i.e., the most easily obtainable, and sprout parameters that should be measured for accurate sprout biomass and carbon stock estimates. Using data for 5 common temperate woody species, we modelled carbon stock and sprout biomass as a function of an increasing number of sprouts in an interaction with different sprout parameters. The mean basal diameter of only two to five of the thickest sprouts and the basal diameter and DBH of the thickest sprouts per stump proved to be accurate estimators for the total sprout biomass of the individual resprouters and the populations of resprouters, respectively. Carbon stock estimates were strongly correlated with biomass estimates, but relative carbon content varied among species. Our study demonstrated that the size of the resprouters can be easily measured, and their biomass and carbon stock estimated; therefore, resprouters can be simply incorporated into studies of woody vegetation. PMID:25719601

  15. Estimating carbon stocks based on forest volume-age relationship

    NASA Astrophysics Data System (ADS)

    Hangnan, Y.; Lee, W.; Son, Y.; Kwak, D.; Nam, K.; Moonil, K.; Taesung, K.

    2012-12-01

    This research attempted to estimate potential change of forest carbon stocks between 2010 and 2110 in South Korea, using the forest cover map and National Forest Inventory (NFI) data. Allometric functions (logistic regression models) of volume-age relationships were developed to estimate carbon stock change during upcoming 100 years for Pinus densiflora, Pinus koraiensis, Pinus rigida, Larix kaempferi,and Quercus spp. The current forest volume was estimated with the developed regression model and 4th forest cover map. The future volume was predicted by developed volume-age models with adding n years to current age. As a result, we found that the total forest volume would increase from 126.89 m^3/ha to 246.61 m^3/ha and the carbon stocks would increase from 90.55 Mg C ha^(-1) to 174.62 Mg C ha^(-1) during 100 years when current forest remains unchanged. The carbon stocks would increase by approximately 0.84 Mg C ha^(-1) yr^(-1), which has high value if considering other northern countries' (Canada, Russia, China) -0.10 ~ 0.28 Mg C ha^(-1) yr^(-1) in pervious study. This can be attributed to the fact that mixed forest and bamboo forest in this study did not considered. Moreover, it must be influenced by that the change of carbon stocks was estimated without the consideration of mortality, thinning, and tree species' change in this study. ;

  16. Effects of graduated compression stockings on skin temperature after running.

    PubMed

    Priego Quesada, J I; Lucas-Cuevas, A G; Gil-Calvo, M; Giménez, J V; Aparicio, I; Cibrián Ortiz de Anda, R M; Salvador Palmer, R; Llana-Belloch, S; Pérez-Soriano, P

    2015-08-01

    High skin temperatures reduce the thermal gradient between the core and the skin and they can lead to a reduction in performance and increased risk of injury. Graduated compression stockings have become popular among runners in the last years and their use may influence the athlete's thermoregulation. The aim of this study was to investigate the effects of graduated compression stockings on skin temperature during running in a moderate indoor environment. Forty-four runners performed two running tests lasting 30min (10min of warm-up and 20min at 75% of their maximal aerobic speed) with and without graduated compressive stockings. Skin temperature was measured in 12 regions of interest on the lower limb by infrared thermography before and after running. Heart rate and perception of fatigue were assessed during the last minute of the running test. Compression stockings resulted in greater increase of temperature (p=0.002 and ES=2.2, 95% CI [0.11-0.45°C]) not only in the body regions in contact (tibialis anterior, ankle anterior and gastrocnemius) but also in the body regions that were not in contact with the garment (vastus lateralis, abductor and semitendinosus). No differences were observed between conditions in heart rate and perception of fatigue (p>0.05 and ES<0.8). In conclusion, running with graduated compression stockings produces a greater increase of skin temperature without modifying the athlete's heart rate and perception of fatigue.

  17. Stroke: a Hidden Danger of Margin Trading in Stock Markets.

    PubMed

    Lin, Shu-Hui; Wang, Chien-Ho; Liu, Tsai-Ching; Chen, Chin-Shyan

    2015-10-01

    Using 10-year population data from 2000 through 2009 in Taiwan, this is the first paper to analyze the relationship between margin trading in stock markets and stroke hospitalizations. The results show that 3 and 6 days after an increase of margin trading in the Taiwan stock markets are associated with greater stoke hospitalizations. In general, a 1 % increase in total margin trading positions is associated with an increment of 2.5 in the total number of stroke hospitalizations, where the mean number of hospital admissions is 233 cases a day. We further examine the effects of margin trading by gender and age groups and find that the effects of margin trading are significant for males and those who are 45-74 years old only. In summary, buying stocks with money you do not have is quite risky, especially if the prices of those stocks fall past a certain level or if there is a sudden and severe drop in the stock market. There is also a hidden danger to one's health from margin trading. A person should be cautious before conducting margin trading, because while it can be quite profitable, danger always lurks just around the corner.

  18. Measuring biomass and carbon stock in resprouting woody plants.

    PubMed

    Matula, Radim; Damborská, Lenka; Nečasová, Monika; Geršl, Milan; Šrámek, Martin

    2015-01-01

    Resprouting multi-stemmed woody plants form an important component of the woody vegetation in many ecosystems, but a clear methodology for reliable measurement of their size and quick, non-destructive estimation of their woody biomass and carbon stock is lacking. Our goal was to find a minimum number of sprouts, i.e., the most easily obtainable, and sprout parameters that should be measured for accurate sprout biomass and carbon stock estimates. Using data for 5 common temperate woody species, we modelled carbon stock and sprout biomass as a function of an increasing number of sprouts in an interaction with different sprout parameters. The mean basal diameter of only two to five of the thickest sprouts and the basal diameter and DBH of the thickest sprouts per stump proved to be accurate estimators for the total sprout biomass of the individual resprouters and the populations of resprouters, respectively. Carbon stock estimates were strongly correlated with biomass estimates, but relative carbon content varied among species. Our study demonstrated that the size of the resprouters can be easily measured, and their biomass and carbon stock estimated; therefore, resprouters can be simply incorporated into studies of woody vegetation.

  19. Breathing life into fisheries stock assessments with citizen science.

    PubMed

    Fairclough, D V; Brown, J I; Carlish, B J; Crisafulli, B M; Keay, I S

    2014-11-28

    Citizen science offers a potentially cost-effective way for researchers to obtain large data sets over large spatial scales. However, it is not used widely to support biological data collection for fisheries stock assessments. Overfishing of demersal fishes along 1,000 km of the west Australian coast led to restrictive management to recover stocks. This diminished opportunities for scientists to cost-effectively monitor stock recovery via fishery-dependent sampling, particularly of the recreational fishing sector. As fishery-independent methods would be too expensive and logistically-challenging to implement, a citizen science program, Send us your skeletons (SUYS), was developed. SUYS asks recreational fishers to voluntarily donate fish skeletons of important species from their catch to allow biological data extraction by scientists to produce age structures and conduct stock assessment analyses. During SUYS, recreational fisher involvement, sample sizes and spatial and temporal coverage of samples have dramatically increased, while the collection cost per skeleton has declined substantially. SUYS is ensuring sampling objectives for stock assessments are achieved via fishery-dependent collection and reliable and timely scientific advice can be provided to managers. The program is also encouraging public ownership through involvement in the monitoring process, which can lead to greater acceptance of management decisions.

  20. A causality between fund performance and stock market

    NASA Astrophysics Data System (ADS)

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

    2016-02-01

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

  1. Macroscopic Evidence for the Hibernating Behavior of Materials Stock.

    PubMed

    Daigo, Ichiro; Iwata, Kohei; Ohkata, Ikumi; Goto, Yoshikazu

    2015-07-21

    Hibernating stock is defined as material stock that is no longer used, but is not yet recovered. Although hibernating stock plays a role in materials recoverability, its contribution to the overall material cycle is not clearly understood. Therefore, an analysis of the time-series potential generation of steel scrap in Japan was performed and compared against the actual recovery, proving that the steel scrap recovered each year exceeds the annual generation potential and providing the first macroscopic evidence of hibernating stock recovery. These results indicate that hibernation behavior should be considered when evaluating materials recoverability. The particular characteristics of hibernating stock were also identified. These materials tend to be located far from scrap yards and/or have low bulk density, while also minimally obstructing new activity. In fact, hibernating materials are typically only recovered when they obstruct new activity. Hence, in order to increase steel recoverability, the recovery cost must be reduced. The end-of-life recycling rates (EoL-RRs) were also evaluated, and were found to exhibit a significant change over time. Consequently, the annual EoL-RR cannot be considered as a representative value, and a value for the EoL-RR(s) of relevant year(s) that has been evaluated over the entire period should be used instead.

  2. 12 CFR 192.20 - May I acquire another insured stock depository institution as part of my conversion?

    Code of Federal Regulations, 2013 CFR

    2013-01-01

    ... 12 Banks and Banking 1 2013-01-01 2013-01-01 false May I acquire another insured stock depository..., DEPARTMENT OF THE TREASURY CONVERSIONS FROM MUTUAL TO STOCK FORM § 192.20 May I acquire another insured stock... stock another insured depository institution that is already in the stock form of ownership....

  3. Empirical investigation of stock price dynamics in an emerging market

    NASA Astrophysics Data System (ADS)

    Palágyi, Zoltán; Mantegna, Rosario N.

    1999-07-01

    We study the development of an emerging market - the Budapest Stock Exchange - by investigating the time evolution of some statistical properties of heavily traded stocks. Moving quarter by quarter over a period of two and a half years we analyze the scaling properties of the standard deviation of intra-day log-price changes. We observe scaling using both seconds and ticks as units of time. For the investigated stocks a Levy shape is a good approximation to the probability density function of tick-by-tick log-price changes in each quarter: the index of the distribution follows an increasing trend, suggesting it could be used as a measure of market efficiency.

  4. Semi-analytic valuation of stock loans with finite maturity

    NASA Astrophysics Data System (ADS)

    Lu, Xiaoping; Putri, Endah R. M.

    2015-10-01

    In this paper we study stock loans of finite maturity with different dividend distributions semi-analytically using the analytical approximation method in Zhu (2006). Stock loan partial differential equations (PDEs) are established under Black-Scholes framework. Laplace transform method is used to solve the PDEs. Optimal exit price and stock loan value are obtained in Laplace space. Values in the original time space are recovered by numerical Laplace inversion. To demonstrate the efficiency and accuracy of our semi-analytic method several examples are presented, the results are compared with those calculated using existing methods. We also present a calculation of fair service fee charged by the lender for different loan parameters.

  5. Degradation in carbon stocks near tropical forest edges.

    PubMed

    Chaplin-Kramer, Rebecca; Ramler, Ivan; Sharp, Richard; Haddad, Nick M; Gerber, James S; West, Paul C; Mandle, Lisa; Engstrom, Peder; Baccini, Alessandro; Sim, Sarah; Mueller, Carina; King, Henry

    2015-01-01

    Carbon stock estimates based on land cover type are critical for informing climate change assessment and landscape management, but field and theoretical evidence indicates that forest fragmentation reduces the amount of carbon stored at forest edges. Here, using remotely sensed pantropical biomass and land cover data sets, we estimate that biomass within the first 500 m of the forest edge is on average 25% lower than in forest interiors and that reductions of 10% extend to 1.5 km from the forest edge. These findings suggest that IPCC Tier 1 methods overestimate carbon stocks in tropical forests by nearly 10%. Proper accounting for degradation at forest edges will inform better landscape and forest management and policies, as well as the assessment of carbon stocks at landscape and national levels. PMID:26679749

  6. Quantifying the Behavior of Stock Correlations Under Market Stress

    PubMed Central

    Preis, Tobias; Kenett, Dror Y.; Stanley, H. Eugene; Helbing, Dirk; Ben-Jacob, Eshel

    2012-01-01

    Understanding correlations in complex systems is crucial in the face of turbulence, such as the ongoing financial crisis. However, in complex systems, such as financial systems, correlations are not constant but instead vary in time. Here we address the question of quantifying state-dependent correlations in stock markets. Reliable estimates of correlations are absolutely necessary to protect a portfolio. We analyze 72 years of daily closing prices of the 30 stocks forming the Dow Jones Industrial Average (DJIA). We find the striking result that the average correlation among these stocks scales linearly with market stress reflected by normalized DJIA index returns on various time scales. Consequently, the diversification effect which should protect a portfolio melts away in times of market losses, just when it would most urgently be needed. Our empirical analysis is consistent with the interesting possibility that one could anticipate diversification breakdowns, guiding the design of protected portfolios. PMID:23082242

  7. Quantifying the semantics of search behavior before stock market moves

    PubMed Central

    Curme, Chester; Preis, Tobias; Stanley, H. Eugene; Moat, Helen Susannah

    2014-01-01

    Technology is becoming deeply interwoven into the fabric of society. The Internet has become a central source of information for many people when making day-to-day decisions. Here, we present a method to mine the vast data Internet users create when searching for information online, to identify topics of interest before stock market moves. In an analysis of historic data from 2004 until 2012, we draw on records from the search engine Google and online encyclopedia Wikipedia as well as judgments from the service Amazon Mechanical Turk. We find evidence of links between Internet searches relating to politics or business and subsequent stock market moves. In particular, we find that an increase in search volume for these topics tends to precede stock market falls. We suggest that extensions of these analyses could offer insight into large-scale information flow before a range of real-world events. PMID:25071193

  8. Ecosystem-Level Carbon Stocks in Costa Rican Mangrove Forests

    NASA Astrophysics Data System (ADS)

    Cifuentes, M.

    2012-12-01

    Tropical mangroves provide a wide variety of ecosystem services, including atmospheric carbon sequestration. Because of their high rates of carbon accumulation, the large expected size of their total stocks (from 2 to 5 times greater than those of upland tropical forests), and the alarming rates at which they are being converted to other uses (releasing globally from 0.02 to 0.12 Pg C yr-1), mangroves are receiving increasing attention as additional tools to mitigate climate change. However, data on whole ecosystem-level carbon in tropical mangroves is limited. Here I present the first estimate of ecosystem level carbon stocks in mangrove forests of Central America. I established 28, 125 m-long, sampling transects along the 4 main rivers draining the Térraba-Sierpe National Wetland in the southern Pacific coast of Costa Rica. This area represents 39% of all remaining mangroves in the country (48300 ha). A circular nested plot was placed every 25 m along each transect. Carbon stocks of standing trees, regeneration, the herbaceous layer, litter, and downed wood were measured following internationally-developed methods compatible with IPCC "Good Practice Guidelines". In addition, total soil carbon stocks were determined down to 1 m depth. Together, these carbon estimates represent the ecosystem-carbon stocks of these forests. The average aboveground carbon stocks were 72.5 ± 3.2 MgC ha-1 (range: 9 - 241 MgC ha-1), consistent with results elsewhere in the world. Between 74 and 92% of the aboveground carbon is stored in trees ≥ 5cm dbh. I found a significant correlation between basal area of trees ≥ 5cm dbh and total aboveground carbon. Soil carbon stocks to 1 m depth ranged between 141 y 593 MgC ha-1. Ecosystem-level carbon stocks ranged from 391 MgC ha-1 to 438 MgC ha-1, with a slight increase from south to north locations. Soil carbon stocks represent an average 76% of total ecosystem carbon stocks, while trees represent only 20%. These Costa Rican mangroves

  9. Principle Fluctuation Modes of the Global Stock Market

    NASA Astrophysics Data System (ADS)

    Yan, Yan; Liu, Mao-Xin; Zhu, Xiao-Wu; Chen, Xiao-Song

    2012-02-01

    The purpose of this work is to study the principle fluctuation modes of the global stock market, which is regarded as a complex system. It is proposed that the systematic risk can be reflected by the trace calculated from the cross-correlation matrix, and the integrity can be classified into clusters according to the plus-minus signs of the elements of the eigenvectors corresponding to several top largest eigenvalues whose total value accounts for more than 60 percent of the trace. The principle fluctuation modes of 30 stock markets are in the same direction in each year of 2005-2010. According to the classification criteria proposed here, the stock markets of the Americas, Europe and Asia & Oceania are automatically classified into different clusters, while Brazil, Russia and China are separated.

  10. Degradation in carbon stocks near tropical forest edges

    PubMed Central

    Chaplin-Kramer, Rebecca; Ramler, Ivan; Sharp, Richard; Haddad, Nick M.; Gerber, James S.; West, Paul C.; Mandle, Lisa; Engstrom, Peder; Baccini, Alessandro; Sim, Sarah; Mueller, Carina; King, Henry

    2015-01-01

    Carbon stock estimates based on land cover type are critical for informing climate change assessment and landscape management, but field and theoretical evidence indicates that forest fragmentation reduces the amount of carbon stored at forest edges. Here, using remotely sensed pantropical biomass and land cover data sets, we estimate that biomass within the first 500 m of the forest edge is on average 25% lower than in forest interiors and that reductions of 10% extend to 1.5 km from the forest edge. These findings suggest that IPCC Tier 1 methods overestimate carbon stocks in tropical forests by nearly 10%. Proper accounting for degradation at forest edges will inform better landscape and forest management and policies, as well as the assessment of carbon stocks at landscape and national levels. PMID:26679749

  11. Identifying the Bottom Line after a Stock Market Crash

    NASA Astrophysics Data System (ADS)

    Roehner, B. M.

    In this empirical paper we show that in the months following a crash there is a distinct connection between the fall of stock prices and the increase in the range of interest rates for a sample of bonds. This variable, which is often referred to as the interest rate spread variable, can be considered as a statistical measure for the disparity in lenders' opinions about the future; in other words, it provides an operational definition of the uncertainty faced by economic agents. The observation that there is a strong negative correlation between stock prices and the spread variable relies on the examination of eight major crashes in the United States between 1857 and 1987. That relationship which has remained valid for one and a half century in spite of important changes in the organization of financial markets can be of interest in the perspective of Monte Carlo simulations of stock markets.

  12. Quantifying the semantics of search behavior before stock market moves.

    PubMed

    Curme, Chester; Preis, Tobias; Stanley, H Eugene; Moat, Helen Susannah

    2014-08-12

    Technology is becoming deeply interwoven into the fabric of society. The Internet has become a central source of information for many people when making day-to-day decisions. Here, we present a method to mine the vast data Internet users create when searching for information online, to identify topics of interest before stock market moves. In an analysis of historic data from 2004 until 2012, we draw on records from the search engine Google and online encyclopedia Wikipedia as well as judgments from the service Amazon Mechanical Turk. We find evidence of links between Internet searches relating to politics or business and subsequent stock market moves. In particular, we find that an increase in search volume for these topics tends to precede stock market falls. We suggest that extensions of these analyses could offer insight into large-scale information flow before a range of real-world events.

  13. Granger causality stock market networks: Temporal proximity and preferential attachment

    NASA Astrophysics Data System (ADS)

    Výrost, Tomáš; Lyócsa, Štefan; Baumöhl, Eduard

    2015-06-01

    The structure of return spillovers is examined by constructing Granger causality networks using daily closing prices of 20 developed markets from 2nd January 2006 to 31st December 2013. The data is properly aligned to take into account non-synchronous trading effects. The study of the resulting networks of over 94 sub-samples revealed three significant findings. First, after the recent financial crisis the impact of the US stock market has declined. Second, spatial probit models confirmed the role of the temporal proximity between market closing times for return spillovers, i.e. the time distance between national stock markets matters. Third, a preferential attachment between stock markets exists, i.e. the probability of the presence of spillover effects between any given two markets increases with their degree of connectedness to others.

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

    NASA Astrophysics Data System (ADS)

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

    2008-05-01

    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 is asymmetric between buyers and sellers and between the inside-the-book orders and outside-the-book orders. In addition, the conditional distributions of relative prices in the continuous auction are independent of the bid-ask spread and volatility. These findings are crucial to build an empirical behavioral microscopic model based on order flows for Chinese stocks.

  15. Life insurance investment and stock market participation in Europe.

    PubMed

    Cavapozzi, Danilo; Trevisan, Elisabetta; Weber, Guglielmo

    2013-03-01

    In most European countries life insurance has played a key role in household portfolios, to the extent that it has often been the first asset ever purchased. In this paper we use life history data from a host of European countries to investigate the role of life insurance investment in shaping individuals' attitudes towards participation in stocks and mutual funds. We show that individuals who purchased a life insurance policy are more likely to invest in stocks and mutual funds later. On the one hand, these findings support the notion that life insurance policies play an educational role in financial investment. On the other hand, they are also consistent with behavioural models where economic agents are first concerned with avoiding unacceptable adverse scenarios by purchasing low risk investments, such as life insurance policies, and then invest in riskier assets, such as stocks and mutual funds, to obtain higher economic returns.

  16. Analysis of network clustering behavior of the Chinese stock market

    NASA Astrophysics Data System (ADS)

    Chen, Huan; Mai, Yong; Li, Sai-Ping

    2014-11-01

    Random Matrix Theory (RMT) and the decomposition of correlation matrix method are employed to analyze spatial structure of stocks interactions and collective behavior in the Shanghai and Shenzhen stock markets in China. The result shows that there exists prominent sector structures, with subsectors including the Real Estate (RE), Commercial Banks (CB), Pharmaceuticals (PH), Distillers&Vintners (DV) and Steel (ST) industries. Furthermore, the RE and CB subsectors are mostly anti-correlated. We further study the temporal behavior of the dataset and find that while the sector structures are relatively stable from 2007 through 2013, the correlation between the real estate and commercial bank stocks shows large variations. By employing the ensemble empirical mode decomposition (EEMD) method, we show that this anti-correlation behavior is closely related to the monetary and austerity policies of the Chinese government during the period of study.

  17. Degradation in carbon stocks near tropical forest edges.

    PubMed

    Chaplin-Kramer, Rebecca; Ramler, Ivan; Sharp, Richard; Haddad, Nick M; Gerber, James S; West, Paul C; Mandle, Lisa; Engstrom, Peder; Baccini, Alessandro; Sim, Sarah; Mueller, Carina; King, Henry

    2015-12-18

    Carbon stock estimates based on land cover type are critical for informing climate change assessment and landscape management, but field and theoretical evidence indicates that forest fragmentation reduces the amount of carbon stored at forest edges. Here, using remotely sensed pantropical biomass and land cover data sets, we estimate that biomass within the first 500 m of the forest edge is on average 25% lower than in forest interiors and that reductions of 10% extend to 1.5 km from the forest edge. These findings suggest that IPCC Tier 1 methods overestimate carbon stocks in tropical forests by nearly 10%. Proper accounting for degradation at forest edges will inform better landscape and forest management and policies, as well as the assessment of carbon stocks at landscape and national levels.

  18. Quantifying the Behavior of Stock Correlations Under Market Stress

    NASA Astrophysics Data System (ADS)

    Preis, Tobias; Kenett, Dror Y.; Stanley, H. Eugene; Helbing, Dirk; Ben-Jacob, Eshel

    2012-10-01

    Understanding correlations in complex systems is crucial in the face of turbulence, such as the ongoing financial crisis. However, in complex systems, such as financial systems, correlations are not constant but instead vary in time. Here we address the question of quantifying state-dependent correlations in stock markets. Reliable estimates of correlations are absolutely necessary to protect a portfolio. We analyze 72 years of daily closing prices of the 30 stocks forming the Dow Jones Industrial Average (DJIA). We find the striking result that the average correlation among these stocks scales linearly with market stress reflected by normalized DJIA index returns on various time scales. Consequently, the diversification effect which should protect a portfolio melts away in times of market losses, just when it would most urgently be needed. Our empirical analysis is consistent with the interesting possibility that one could anticipate diversification breakdowns, guiding the design of protected portfolios.

  19. Quantifying the behavior of stock correlations under market stress.

    PubMed

    Preis, Tobias; Kenett, Dror Y; Stanley, H Eugene; Helbing, Dirk; Ben-Jacob, Eshel

    2012-01-01

    Understanding correlations in complex systems is crucial in the face of turbulence, such as the ongoing financial crisis. However, in complex systems, such as financial systems, correlations are not constant but instead vary in time. Here we address the question of quantifying state-dependent correlations in stock markets. Reliable estimates of correlations are absolutely necessary to protect a portfolio. We analyze 72 years of daily closing prices of the 30 stocks forming the Dow Jones Industrial Average (DJIA). We find the striking result that the average correlation among these stocks scales linearly with market stress reflected by normalized DJIA index returns on various time scales. Consequently, the diversification effect which should protect a portfolio melts away in times of market losses, just when it would most urgently be needed. Our empirical analysis is consistent with the interesting possibility that one could anticipate diversification breakdowns, guiding the design of protected portfolios.

  20. 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.

  1. Analysing the uncertainty of estimating forest carbon stocks in China

    NASA Astrophysics Data System (ADS)

    Yue, Tian Xiang; Wang, Yi Fu; Du, Zheng Ping; Zhao, Ming Wei; Li Zhang, Li; Zhao, Na; Lu, Ming; Larocque, Guy R.; Wilson, John P.

    2016-07-01

    Earth surface systems are controlled by a combination of global and local factors, which cannot be understood without accounting for both the local and global components. The system dynamics cannot be recovered from the global or local controls alone. Ground forest inventory is able to accurately estimate forest carbon stocks in sample plots, but these sample plots are too sparse to support the spatial simulation of carbon stocks with required accuracy. Satellite observation is an important source of global information for the simulation of carbon stocks. Satellite remote sensing can supply spatially continuous information about the surface of forest carbon stocks, which is impossible from ground-based investigations, but their description has considerable uncertainty. In this paper, we validated the Kriging method for spatial interpolation of ground sample plots and a satellite-observation-based approach as well as an approach for fusing the ground sample plots with satellite observations. The validation results indicated that the data fusion approach reduced the uncertainty of estimating carbon stocks. The data fusion had the lowest uncertainty by using an existing method for high-accuracy surface modelling to fuse the ground sample plots with the satellite observations (HASM-S). The estimates produced with HASM-S were 26.1 and 28.4 % more accurate than the satellite-based approach and spatial interpolation of the sample plots respectively. Forest carbon stocks of 7.08 Pg were estimated for China during the period from 2004 to 2008, an increase of 2.24 Pg from 1984 to 2008, using the preferred HASM-S method.

  2. Profitability of Contrarian Strategies in the Chinese Stock Market.

    PubMed

    Shi, Huai-Long; Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2015-01-01

    This paper reexamines the profitability of loser, winner and contrarian portfolios in the Chinese stock market using monthly data of all stocks traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange covering the period from January 1997 to December 2012. We find evidence of short-term and long-term contrarian profitability in the whole sample period when the estimation and holding horizons are 1 month or longer than 12 months and the annualized return of contrarian portfolios increases with the estimation and holding horizons. We perform subperiod analysis and find that the long-term contrarian effect is significant in both bullish and bearish states, while the short-term contrarian effect disappears in bullish states. We compare the performance of contrarian portfolios based on different grouping manners in the estimation period and unveil that decile grouping outperforms quintile grouping and tertile grouping, which is more evident and robust in the long run. Generally, loser portfolios and winner portfolios have positive returns and loser portfolios perform much better than winner portfolios. Both loser and winner portfolios in bullish states perform better than those in the whole sample period. In contrast, loser and winner portfolios have smaller returns in bearish states, in which loser portfolio returns are significant only in the long term and winner portfolio returns become insignificant. These results are robust to the one-month skipping between the estimation and holding periods and for the two stock exchanges. Our findings show that the Chinese stock market is not efficient in the weak form. These findings also have obvious practical implications for financial practitioners.

  3. Stock and option portfolio using fuzzy logic approach

    NASA Astrophysics Data System (ADS)

    Sumarti, Novriana; Wahyudi, Nanang

    2014-03-01

    Fuzzy Logic in decision-making process has been widely implemented in various problems in industries. It is the theory of imprecision and uncertainty that was not based on probability theory. Fuzzy Logic adds values of degree between absolute true and absolute false. It starts with and builds on a set of human language rules supplied by the user. The fuzzy systems convert these rules to their mathematical equivalents. This could simplify the job of the system designer and the computer, and results in much more accurate representations of the way systems behave in the real world. In this paper we examine the decision making process of stock and option trading by the usage of MACD (Moving Average Convergence Divergence) technical analysis and Option Pricing with Fuzzy Logic approach. MACD technical analysis is for the prediction of the trends of underlying stock prices, such as bearish (going downward), bullish (going upward), and sideways. By using Fuzzy C-Means technique and Mamdani Fuzzy Inference System, we define the decision output where the value of MACD is high then decision is "Strong Sell", and the value of MACD is Low then the decision is "Strong Buy". We also implement the fuzzification of the Black-Scholes option-pricing formula. The stock and options methods are implemented on a portfolio of one stock and its options. Even though the values of input data, such as interest rates, stock price and its volatility, cannot be obtain accurately, these fuzzy methods can give a belief degree of the calculated the Black-Scholes formula so we can make the decision on option trading. The results show the good capability of the methods in the prediction of stock price trends. The performance of the simulated portfolio for a particular period of time also shows good return.

  4. Striped bass stocks and concentrations of polychlorinated biphenyls

    USGS Publications Warehouse

    Fabrizio, Mary C.; Sloan, Ronald J.; O'Brien, John F.

    1991-01-01

    Harvest restrictions on striped bass Morone saxatilis fisheries in Atlantic coastal states were relaxed in 1990, but consistent, coastwide regulations of the harvest have been difficult to implement because of the mixed-stock nature of the fisheries and the recognized contamination of Hudson River fish by polychlorinated biphenyls (PCBs). We examined PCB concentrations and stock of origin of coastal striped bass to better understand the effects of these two factors on the composition of the harvest. The probability of observing differences in PCB concentration among fish from the Hudson River stock and the 'southern' group (Chesapeake Bay and Roanoke River stocks combined) was investigated with the logit model (a linear model for analysis of categorical data). Although total PCB concentrations were highly variable among fish from the two groups, striped bass classified as Hudson River stock had a significantly greater probability of having PCB concentrations equal to or greater than 2.00 mg/kg than did fish belonging to the southern group for all age- and size-classes examined. There was a significantly greater probability of observing total PCB concentrations equal to or exceeding 2.00 mg/kg in fish that were 5, 6, and 7 or more years old, and this probability increased linearly with age. We observed similar results when we examined the effect of size on total PCB concentration. The minimum-size limit estimated to permit escapement of fish to sustain stock production is 610 mm total length. Unless total PCB concentrations decrease in striped bass, it is likely that many harvestable fish will have concentrations that exceed the tolerance limit set by the U.S. Food and Drug Administration.

  5. Sampling for Soil Carbon Stock Assessment in Rocky Agricultural Soils

    NASA Technical Reports Server (NTRS)

    Beem-Miller, Jeffrey P.; Kong, Angela Y. Y.; Ogle, Stephen; Wolfe, David

    2016-01-01

    Coring methods commonly employed in soil organic C (SOC) stock assessment may not accurately capture soil rock fragment (RF) content or soil bulk density (rho (sub b)) in rocky agricultural soils, potentially biasing SOC stock estimates. Quantitative pits are considered less biased than coring methods but are invasive and often cost-prohibitive. We compared fixed-depth and mass-based estimates of SOC stocks (0.3-meters depth) for hammer, hydraulic push, and rotary coring methods relative to quantitative pits at four agricultural sites ranging in RF content from less than 0.01 to 0.24 cubic meters per cubic meter. Sampling costs were also compared. Coring methods significantly underestimated RF content at all rocky sites, but significant differences (p is less than 0.05) in SOC stocks between pits and corers were only found with the hammer method using the fixed-depth approach at the less than 0.01 cubic meters per cubic meter RF site (pit, 5.80 kilograms C per square meter; hammer, 4.74 kilograms C per square meter) and at the 0.14 cubic meters per cubic meter RF site (pit, 8.81 kilograms C per square meter; hammer, 6.71 kilograms C per square meter). The hammer corer also underestimated rho (sub b) at all sites as did the hydraulic push corer at the 0.21 cubic meters per cubic meter RF site. No significant differences in mass-based SOC stock estimates were observed between pits and corers. Our results indicate that (i) calculating SOC stocks on a mass basis can overcome biases in RF and rho (sub b) estimates introduced by sampling equipment and (ii) a quantitative pit is the optimal sampling method for establishing reference soil masses, followed by rotary and then hydraulic push corers.

  6. Profitability of Contrarian Strategies in the Chinese Stock Market

    PubMed Central

    Shi, Huai-Long; Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2015-01-01

    This paper reexamines the profitability of loser, winner and contrarian portfolios in the Chinese stock market using monthly data of all stocks traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange covering the period from January 1997 to December 2012. We find evidence of short-term and long-term contrarian profitability in the whole sample period when the estimation and holding horizons are 1 month or longer than 12 months and the annualized return of contrarian portfolios increases with the estimation and holding horizons. We perform subperiod analysis and find that the long-term contrarian effect is significant in both bullish and bearish states, while the short-term contrarian effect disappears in bullish states. We compare the performance of contrarian portfolios based on different grouping manners in the estimation period and unveil that decile grouping outperforms quintile grouping and tertile grouping, which is more evident and robust in the long run. Generally, loser portfolios and winner portfolios have positive returns and loser portfolios perform much better than winner portfolios. Both loser and winner portfolios in bullish states perform better than those in the whole sample period. In contrast, loser and winner portfolios have smaller returns in bearish states, in which loser portfolio returns are significant only in the long term and winner portfolio returns become insignificant. These results are robust to the one-month skipping between the estimation and holding periods and for the two stock exchanges. Our findings show that the Chinese stock market is not efficient in the weak form. These findings also have obvious practical implications for financial practitioners. PMID:26368537

  7. Mapping organic carbon stocks of Swiss forest soil

    NASA Astrophysics Data System (ADS)

    Nussbaum, M.; Papritz, A.; Baltensweiler, A.; Walthert, L.

    2012-04-01

    Carbon (C) sequestration into forest sinks offsets greenhouse gas emissions under the Kyoto protocol. Therefore, quantifying C stocks and fluxes in forest ecosystems is of interest for reporting greenhouse gas emissions. In Switzerland, the National Forest Inventory offers comprehensive data to quantify the above ground forest biomass and its change in time. Estimating stocks of soil organic C (SOC) in forests is more difficult because of its high spatial variability. To date the greenhouse gas inventory relies only on sparse data and regionally differentiated predictions of SOC stocks in forest soils are currently not possible. Recently, more soil data and new explanatory variables for statistical modeling like high resolution elevation data and satellite images became available. Based on data from 1'033 sites, we modeled SOC stocks to a depth of 1 m including the organic layer for the Swiss forested area. We used a novel robust restricted maximum likelihood method to fit a linear regression model with spatially correlated errors to the C stock data. For the regression analysis we used a broad range of covariates derived from climate data (precipitation, temperature, radiation), two elevation models (resolutions 25 and 2 m) and spectral variables representing vegetation. Furthermore, the main cartographic categories of an overview soil map were used to broadly represent the parent material. The numerous covariates, that partly correlated strongly, were reduced to a first subset using LASSO (Least Absolute Shrinkage and Selection Operator). This subset of covariates was then further reduced based on cross validation of the robustly fitted spatial model. The levels of categorical covariates were partly aggregated during this process and interactions between covariates were explored to account for nonlinear dependence of C stocks on the covariates. Using the final model, robust kriging prediction and error maps were computed with a resolution of one hectare.

  8. The use of compression stockings for venous disorders in Brazil

    PubMed Central

    Cataldo, J L; de Godoy, J M Pereira; de Barros, N

    2012-01-01

    Objective The aim of this study was to analyse the medical indication and the use of elastic compression stockings, and to assess patient adherence to treatment in different regions of Brazil. Method The prescription and clinical indication of elastic stockings were evaluated in a prospective, descriptive, cross-sectional, multicentre study for a population of private patients. In 2009, 3414 patients from 123 treatment centres in southern, south-eastern and north-eastern Brazil were evaluated using a questionnaire. The following variables were analysed: sociodemographic (gender, age, occupation and education), lifestyle (physical activity and time spent standing); classification of venous disease (CEAP [clinical, aetiological, anatomical and pathophysiological] classification – clinical criteria), indications for prescription, consumer behaviour (strength, acquisition and use of stockings) and criteria of satisfaction (improvement, duration of use, adherence). The effects of compression therapy were assessed at a follow-up visit approximately 30 days after starting treatment with the following items being assessed: complaints about pain, discomfort, burning sensation and oedema of the leg while using elastic stockings. Multivariate analysis was used to compare data with an alpha error of 5% (P value < 0.05) being considered acceptable. Results The average age increased with the severity of chronic venous insufficiency; the main indications used by physicians were leg pain and discomfort; 89.3% of patients bought stockings and thus started treatment with more than 90% of these reporting improvements in symptoms. Conclusion Elastic stockings are available to the Brazilian population, look acceptable at the time of purchase and provide good results; however, some limitations regarding their use need to be addressed. PMID:21765190

  9. Quantifying Wikipedia Usage Patterns Before Stock Market Moves

    NASA Astrophysics Data System (ADS)

    Moat, Helen Susannah; Curme, Chester; Avakian, Adam; Kenett, Dror Y.; Stanley, H. Eugene; Preis, Tobias

    2013-05-01

    Financial crises result from a catastrophic combination of actions. Vast stock market datasets offer us a window into some of the actions that have led to these crises. Here, we investigate whether data generated through Internet usage contain traces of attempts to gather information before trading decisions were taken. We present evidence in line with the intriguing suggestion that data on changes in how often financially related Wikipedia pages were viewed may have contained early signs of stock market moves. Our results suggest that online data may allow us to gain new insight into early information gathering stages of decision making.

  10. Clustering stock market companies via chaotic map synchronization

    NASA Astrophysics Data System (ADS)

    Basalto, N.; Bellotti, R.; De Carlo, F.; Facchi, P.; Pascazio, S.

    2005-01-01

    A pairwise clustering approach is applied to the analysis of the Dow Jones index companies, in order to identify similar temporal behavior of the traded stock prices. To this end, the chaotic map clustering algorithm is used, where a map is associated to each company and the correlation coefficients of the financial time series to the coupling strengths between maps. The simulation of a chaotic map dynamics gives rise to a natural partition of the data, as companies belonging to the same industrial branch are often grouped together. The identification of clusters of companies of a given stock market index can be exploited in the portfolio optimization strategies.

  11. Empirical distributions of Chinese stock returns at different microscopic timescales

    NASA Astrophysics Data System (ADS)

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

    2008-01-01

    We study the distributions of event-time returns and clock-time returns at different microscopic timescales using ultra-high-frequency data extracted from the limit-order books of 23 stocks traded in the Chinese stock market in 2003. We find that the returns at the one-trade timescale obey the inverse cubic law. For larger timescales (2-32 trades and 1-5 min), the returns follow the Student distribution with power-law tails. With the decrease in timescale, the tail becomes fatter, which is consistent with the variational theory in Turbulence.

  12. Stock origins of Dolly Varden collected from Beaufort Sea coastal sites of Arctic Alaska and Canada

    USGS Publications Warehouse

    Krueger, C.C.; Wilmot, R.L.; Everett, R.J.

    1999-01-01

    Anadromous northern Dolly Varden Salvelinus malma support a summer subsistence fishery in Beaufort Sea coastal waters. These same waters coincide with areas of oil and gas exploration and development. The purpose of this study was to assess variation in stock origins of Dolly Varden collected from sites along 400 km of Beaufort Sea coast. Mixed-stock analyses (MSA) of allozyme data were used to compare collections from four sites (Endicolt near Prudhoe Bay, Mikkelsen Bay, and Kaktovik in Alaska and Phillips Bay in Canada) and to assess variation in stock contributions among summer months and between 1987 and 1988. The MSA estimates for individual stocks were summed into estimates for three stock groups: western stocks from the area near Sagavarnirktok River and Prudhoe Bay (SAG), Arctic National Wildlife Refuge stocks (Arctic Refuge), and Canadian stocks. The MSA of Endicott samples taken in 1987 and 1988 did not differ among months in terms of contributions from local SAG stocks (range, 71-95%). Contributions from nonlocal (>100 km distant) Canadian and Arctic Refuge stocks were not different from zero in 1987, but contributions from Canadian stocks were so in July (17%) and August (20%) but not in September of 1988. Thus, stock contributions to Endicott collections were different between 1987 and 1988. Samples from the Kaktovik area in 1988 were different between months in terms of contributions from nonlocal SAG stocks (July, 7%; August, 27%). Significant contributions to these samples were made both months by Canadian (25% and 17%) and local Arctic Refuge stocks (68% and 56%). Among the four coastal sites, local stocks typically contributed most to collections; however, every site had collections that contained significant contributions from nonlocal stocks. The MSA estimates clearly revealed the movement of Dolly Varden between U.S. and Canada coastal waters. If local stocks are affected by oil and gas development activities, distant subsistence fisheries

  13. Research on the evolution of stock correlation based on maximal spanning trees

    NASA Astrophysics Data System (ADS)

    Yang, Chunxia; Zhu, Xueshuai; Li, Qian; Chen, Yanhua; Deng, Qiangqiang

    2014-12-01

    In this study, we choose the daily closing price of 268 constituent stocks of the S&P 500 index, 221 stocks of London Stock Exchange, 148 constituent stocks of the Shanghai Composite index and 152 constituent stocks of the Hang Seng index as the research objects and select the sample of all the stock markets from 2 January, 2003, to 16 September, 2013. For each stock market, first, using a moving window to scan through every stock return series and mutual information to measure the statistical interdependence between stock returns, we construct a corresponding weighted network in every given window. Then we study the evolution of stock correlation by analyzing the average mutual information, mutual information distribution and topology structure’s variation of the maximal spanning tree extracting from every weighted network. All the obtained results indicate that for all the stock markets, both the average mutual information and the standard deviation of mutual information distribution first gradually increase and they reach a peak during the full-outbreak periods, and finally, they decrease again. In addition, the topology structure of the maximal spanning tree also changes from compact star-like to loose chain-like first and then turns to compact star-like once more. All the facts tell us that the crisis does change the stock correlation and the stock correlation is from weak to strong first, and then becomes weak again.

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

    USGS Publications Warehouse

    Stewart, David R.; Long, James M.

    2015-01-01

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

  15. Spatial optimization of carbon-stocking projects across Africa integrating stocking potential with co-benefits and feasibility

    NASA Astrophysics Data System (ADS)

    Greve, Michelle; Reyers, Belinda; Mette Lykke, Anne; Svenning, Jens-Christian

    2013-12-01

    Carbon offset projects through forestation are employed within the emissions trading framework to store carbon. Yet, information about the potential of landscapes to stock carbon, essential to the design of offset projects, is often lacking. Here, based on data on vegetation carbon, climate and soil, we quantify the potential for carbon storage in woody vegetation across tropical Africa. The ability of offset projects to produce co-benefits for ecosystems and people is then quantified. When co-benefits such as biodiversity conservation are considered, the top-ranked sites are sometimes different to sites selected purely for their carbon-stocking potential, although they still possess up to 92% of the latter carbon-stocking potential. This work provides the first continental-scale assessment of which areas may provide the greatest direct and indirect benefits from carbon storage reforestation projects at the smallest costs and risks, providing crucial information for prioritization of investments in carbon storage projects.

  16. Regional patterns of soil organic carbon stocks in China.

    PubMed

    Yu, D S; Shi, X Z; Wang, H J; Sun, W X; Chen, J M; Liu, Q H; Zhao, Y C

    2007-11-01

    Soil organic carbon (SOC) is of great importance in the global carbon cycle. Distribution patterns of SOC in various regions of China constitute a nation-wide baseline for studies on soil carbon changes. This paper presents an integrated and multi-level study on SOC stock patterns of China, and presents baseline SOC stock estimates by great administrative regions, river watersheds, soil type regions and ecosystem. The assignment is done by means of a recently completed 1: 1,000,000 scale soil database of China, which is the most detailed and reliable one in China at the present time. SOC densities of 7292 soil profiles collected across China in the middle of the 1980s were calculated and then linked to corresponding polygons in a digital soil map, resulting in a SOC Density Map of China on a 1: 1,000,000 scale, and a 1 km x 1 km grid map. Corresponding maps of administrative regions, river watersheds, soil types (ST), and ecosystems in China were also prepared with an identical resolution and coordinate control points, allowing GIS analyses. Results show that soils in China cover an area of 9.281 x 10(6)km(2) in total, with a total SOC stock of 89.14 Pg (1 Pg=10(15)g) and a mean SOC density of 96.0 t C/ha. Confidence limits of the SOC stock and density in China are estimated as [89.23 Pg, 89.08 Pg] and [96.143 t C/ha, 95.981 t C/ha] at 95% probability, respectively. The largest total SOC stock (23.60 Pg) is found in South-west China while the highest mean SOC density (181.9 t C/ha) is found in north-east China. The total SOC stock and the mean SOC density in the Yangtze river watershed are 21.05 Pg and 120.0 t C/ha, respectively, while the corresponding figures in the Yellow river watershed are 8.46 Pg and 104.3 t C/ha, respectively. The highest total SOC stocks are found in Inceptisols (34.39 Pg) with SOC density of 102.8 t C/ha. The lowest and highest mean SOC densities are found on Entisols (28.1 t C/ha), and on Histosols (994.728.1 t C/ha), respectively

  17. 40 CFR 410.70 - Applicability; description of the stock and yarn finishing subcategory.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... PROTECTION AGENCY (CONTINUED) EFFLUENT GUIDELINES AND STANDARDS TEXTILE MILLS POINT SOURCE CATEGORY Stock and... following types of textile mills: Stock or yarn dyeing or finishing, which may include any or all of...

  18. Impacts of unregulated harvesting on a recovering stock of native oysters (Ostrea edulis).

    PubMed

    Smyth, D; Roberts, D; Browne, L

    2009-06-01

    In Strangford Lough, Northern Ireland stocks of Ostrea edulis collapsed in the 1890s and the species was rarely recorded again until 1998 when the wild stock was estimated to be 100,000. The stock increased to 1.2 million in 2003 but declined to 650,000 by 2005. In 2007 the stock exceeded 1 million. The initial recovery of wild stocks is attributed to the combined effects of spawning commercial O. edulis stocks of and larval retention due to local hydrography. The stock decline between 2003 and 2005 is attributed to unregulated harvesting. Significant differences in abundances between sites over this period may be explained by the exploitation of more-readily accessible sites initially and of less accessible sites later. Oysters at sites where there was minimal exploitation probably contributed to widespread recruitment in 2007. Sustainable management of recovering native oyster stocks in Strangford Lough and elsewhere and will be impossible without appropriate legislation and enforcement.

  19. Managing livestock using animal behavior: Mixed-species stocking and flerds

    Technology Transfer Automated Retrieval System (TEKTRAN)

    Mixed-species stocking can foster sound landscape management while offering economic and ecological advantages compared to mono-species stocking. Producers contemplating a mixed-species enterprise should reflect on several considerations before implementing this animal management strategy. Factors...

  20. Genetic contribution of hatchery fish to walleye stocks in Saginaw Bay, Michigan

    USGS Publications Warehouse

    Todd, Thomas N.; Haas, Robert C.

    1995-01-01

    Stocks of walleye (Stizostedion vitreum) were severely depressed in Saginaw Bay in the 1970s. In 1979, the Michigan Department of Natural Resources began intensive stocking of walleye fingerlings to bolster fish populations. Subsequent to stocking, the walleye fishery has recovered. The study objective was to determine if recovery was due to the stocking program or natural reproduction. Inherent genetic differences between hatchery fish and endemic walleyes were used to determine the effect and contribution of hatchery fish to Saginaw Bay.

  1. 18 CFR 367.2040 - Account 204, Preferred stock issued.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 18 Conservation of Power and Water Resources 1 2013-04-01 2013-04-01 false Account 204, Preferred stock issued. 367.2040 Section 367.2040 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2040 Account 204, Preferred...

  2. 18 CFR 367.2040 - Account 204, Preferred stock issued.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 18 Conservation of Power and Water Resources 1 2012-04-01 2012-04-01 false Account 204, Preferred stock issued. 367.2040 Section 367.2040 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2040 Account 204, Preferred...

  3. 18 CFR 367.2010 - Account 201, Common stock issued.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 18 Conservation of Power and Water Resources 1 2014-04-01 2014-04-01 false Account 201, Common stock issued. 367.2010 Section 367.2010 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2010 Account 201, Common...

  4. 18 CFR 367.2010 - Account 201, Common stock issued.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 18 Conservation of Power and Water Resources 1 2012-04-01 2012-04-01 false Account 201, Common stock issued. 367.2010 Section 367.2010 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2010 Account 201, Common...

  5. 18 CFR 367.2040 - Account 204, Preferred stock issued.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 18 Conservation of Power and Water Resources 1 2014-04-01 2014-04-01 false Account 204, Preferred stock issued. 367.2040 Section 367.2040 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2040 Account 204, Preferred...

  6. 18 CFR 367.2010 - Account 201, Common stock issued.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 18 Conservation of Power and Water Resources 1 2013-04-01 2013-04-01 false Account 201, Common stock issued. 367.2010 Section 367.2010 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2010 Account 201, Common...

  7. 18 CFR 367.2010 - Account 201, Common stock issued.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 18 Conservation of Power and Water Resources 1 2011-04-01 2011-04-01 false Account 201, Common stock issued. 367.2010 Section 367.2010 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2010 Account 201, Common...

  8. 18 CFR 367.2040 - Account 204, Preferred stock issued.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 18 Conservation of Power and Water Resources 1 2011-04-01 2011-04-01 false Account 204, Preferred stock issued. 367.2040 Section 367.2040 Conservation of Power and Water Resources FEDERAL ENERGY... GAS ACT Balance Sheet Chart of Accounts Proprietary Capital § 367.2040 Account 204, Preferred...

  9. Stock room, just off the large first floor machine ship. ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    Stock room, just off the large first floor machine ship. Here were stored various cutting edges and drill bits used on the machines. Some raw materials were stored here as well, along with nuts and bolts, machine screws, etc. - Thomas A. Edison Laboratories, Building No. 5, Main Street & Lakeside Avenue, West Orange, Essex County, NJ

  10. The Stock Market and Economic Principles: A Curriculum Project.

    ERIC Educational Resources Information Center

    Savino, Ronald J.

    This paper outlines how to teach macroeconomic principles through mock stock market investing while helping students develop economic awareness, interest, and comprehension on a more sophisticated level. The basic textbook is "The Economy Today" (B. R. Schiller). After two weeks of teaching basic economic concepts and vocabulary, such as…

  11. Flexible stocking strategies for adapting to climatic variability

    Technology Transfer Automated Retrieval System (TEKTRAN)

    As a result of precipitation-induced variability on forage production, ranchers have difficulty matching animal demand with forage availability in their operations. Flexible stocking strategies could more effectively use extra forage in highly productive years and limit risk of overgrazing during dr...

  12. 26 CFR 1.306-3 - Section 306 stock defined.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... of section 306, the characteristics of the section 306 stock exchanged. The entire amount of the fair... treated as derived from the same source as would have been the source if money had been received from the... derived from sources within the United States, the amount shall be considered to be fixed or...

  13. The stock of invasive insect species and its economic determinants.

    PubMed

    Hlasny, Vladimir

    2011-06-01

    Invasions of nonindigenous organisms have long been linked to trade, but the contribution of individual trade pathways remains poorly understood, because species are not observed immediately upon arrival and the number of species arriving annually is unknown. Species interception records may count both new arrivals and species long introduced. Furthermore, the stock of invasive insect species already present is unknown. In this study, a state-space model is used to infer the stock of detected as well as undetected invasive insect species established in the United States. A system of equations is estimated jointly to distinguish the patterns of introduction, identification, and eradication. Introductions of invasive species are modeled as dependent on the volume of trade and arrival of people. Identifications depend on the public efforts at invasive species research, as well as on the established stock of invasive species that remain undetected. Eradications of both detected and undetected invasive species depend on containment and quarantine efforts, as well as on the stock of all established invasive species. These patterns are estimated by fitting the predicted number of invasive species detections to the observed record in the North American Non-Indigenous Arthropod Database. The results indicate that agricultural imports are the most important pathway of introduction, followed by immigration of people. Expenditures by the U.S. Department of Agriculture and the Agricultural Research Service are found to explain the species identification record well. Between three and 38 invasive insect species are estimated to be established in the United States undetected.

  14. Stock price change rate prediction by utilizing social network activities.

    PubMed

    Deng, Shangkun; Mitsubuchi, Takashi; Sakurai, Akito

    2014-01-01

    Predicting stock price change rates for providing valuable information to investors is a challenging task. Individual participants may express their opinions in social network service (SNS) before or after their transactions in the market; we hypothesize that stock price change rate is better predicted by a function of social network service activities and technical indicators than by a function of just stock market activities. The hypothesis is tested by accuracy of predictions as well as performance of simulated trading because success or failure of prediction is better measured by profits or losses the investors gain or suffer. In this paper, we propose a hybrid model that combines multiple kernel learning (MKL) and genetic algorithm (GA). MKL is adopted to optimize the stock price change rate prediction models that are expressed in a multiple kernel linear function of different types of features extracted from different sources. GA is used to optimize the trading rules used in the simulated trading by fusing the return predictions and values of three well-known overbought and oversold technical indicators. Accumulated return and Sharpe ratio were used to test the goodness of performance of the simulated trading. Experimental results show that our proposed model performed better than other models including ones using state of the art techniques.

  15. Connections 2014: Taking Stock of the Civic Arena. Annual Newsletter

    ERIC Educational Resources Information Center

    Gilmore, Melinda, Ed.; Holwerk, David, Ed.

    2014-01-01

    Each issue of this annual newsletter focuses on a particular area of the Kettering Foundation's research. The 2014 issue focuses on taking stock of the civic arena, which includes organized projects in civic renewal, civic engagement, civic education, and civic capacity building in communities. This issue contains the following articles that…

  16. 12 CFR 615.5260 - Retirement of eligible borrower stock.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Retirement of Equities and Payment of..., participation certificates or allocated equities outstanding on January 6, 1988, or purchased as a condition of... equities for which such eligible borrower stock is exchanged in connection with a merger, consolidation,...

  17. Stock Price Change Rate Prediction by Utilizing Social Network Activities

    PubMed Central

    Mitsubuchi, Takashi; Sakurai, Akito

    2014-01-01

    Predicting stock price change rates for providing valuable information to investors is a challenging task. Individual participants may express their opinions in social network service (SNS) before or after their transactions in the market; we hypothesize that stock price change rate is better predicted by a function of social network service activities and technical indicators than by a function of just stock market activities. The hypothesis is tested by accuracy of predictions as well as performance of simulated trading because success or failure of prediction is better measured by profits or losses the investors gain or suffer. In this paper, we propose a hybrid model that combines multiple kernel learning (MKL) and genetic algorithm (GA). MKL is adopted to optimize the stock price change rate prediction models that are expressed in a multiple kernel linear function of different types of features extracted from different sources. GA is used to optimize the trading rules used in the simulated trading by fusing the return predictions and values of three well-known overbought and oversold technical indicators. Accumulated return and Sharpe ratio were used to test the goodness of performance of the simulated trading. Experimental results show that our proposed model performed better than other models including ones using state of the art techniques. PMID:24790586

  18. 26 CFR 1.958-2 - Constructive ownership of stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... who is legally separated from the individual under a decree of divorce or separate maintenance); and... in subdivisions (ii) and (iii) of this subparagraph, stock constructively owned by a person by reason... constructively owned by an individual by reason of the application of paragraph (b) of this section shall not...

  19. Impression material thickness in stock and custom trays.

    PubMed

    Bomberg, T J; Hatch, R A; Hoffman, W

    1985-08-01

    This study did not examine the accuracy of the resultant impressions. Rather, the impression material thickness in impressions made using both the highly advocated custom acrylic resin tray and in the highly used manufactured stock tray was examined. Comparison between the material thickness at the prepared tooth area revealed a mean difference in material thickness of less than 1 mm. The question of the significance of this difference remains to be answered. If the difference is not significant in the success of the impression and the resultant casting, then there are several advantages in using the manufactured stock tray; the first is economy. The average cost of a custom acrylic full arch impression tray is $3.65, compared with an average cost of slightly over $0.30 for the stock tray. The second advantage is the convenience factor. Making a custom tray requires planning, study models, laboratory time, curing interval, and finishing time. In contrast, the stock tray can be selected, adapted, and used in a single visit for both anticipated and unanticipated situations. If the difference in material thickness is significant, the custom tray is indicated. However, attention to detail in making and inserting the tray in the mouth must be observed to maximize the benefits of the custom tray.

  20. VIEW FROM THE EAST, SHOWING THE STOCK BINS IN THE ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    VIEW FROM THE EAST, SHOWING THE STOCK BINS IN THE FOREGROUND, THE #1 BLAST FURNACE ON THE RIGHT, STOVES IN THE CENTER, AND THE #2 BLAST FURNACE ON THE LEFT. - Sloss-Sheffield Steel & Iron, First Avenue North Viaduct at Thirty-second Street, Birmingham, Jefferson County, AL

  1. 16 CFR 802.10 - Stock dividends and splits; reorganizations.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 16 Commercial Practices 1 2010-01-01 2010-01-01 false Stock dividends and splits; reorganizations. 802.10 Section 802.10 Commercial Practices FEDERAL TRADE COMMISSION RULES, REGULATIONS, STATEMENTS AND INTERPRETATIONS UNDER THE HART-SCOTT-RODINO ANTITRUST IMPROVEMENTS ACT OF 1976 EXEMPTION RULES § 802.10...

  2. 16 CFR 802.10 - Stock dividends and splits; reorganizations.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 16 Commercial Practices 1 2011-01-01 2011-01-01 false Stock dividends and splits; reorganizations. 802.10 Section 802.10 Commercial Practices FEDERAL TRADE COMMISSION RULES, REGULATIONS, STATEMENTS AND INTERPRETATIONS UNDER THE HART-SCOTT-RODINO ANTITRUST IMPROVEMENTS ACT OF 1976 EXEMPTION RULES § 802.10...

  3. 27 CFR 6.99 - Stocking, rotation, and pricing service.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... pricing service. 6.99 Section 6.99 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND... pricing service. (a) General. Industry members may, at a retail establishment, stock, rotate and affix the price to distilled spirits, wine, or malt beverages which they sell, provided products of other...

  4. 12 CFR 225.44 - Reporting of stock loans.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Reporting of stock loans. 225.44 Section 225.44 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM BANK HOLDING COMPANIES AND CHANGE IN BANK CONTROL (REGULATION Y) Regulations Change in Bank...

  5. 77 FR 29969 - Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-05-21

    ... ESA-listed stocks (e.g., blue whales, humpback whales, etc.), there is no mention made of this. In... provide it. As one example, the most recent mortality data in the Eastern North Pacific blue whale SAR is for 2008, but there is documentation of mortality to at least one blue whale in 2009....

  6. Stock price change rate prediction by utilizing social network activities.

    PubMed

    Deng, Shangkun; Mitsubuchi, Takashi; Sakurai, Akito

    2014-01-01

    Predicting stock price change rates for providing valuable information to investors is a challenging task. Individual participants may express their opinions in social network service (SNS) before or after their transactions in the market; we hypothesize that stock price change rate is better predicted by a function of social network service activities and technical indicators than by a function of just stock market activities. The hypothesis is tested by accuracy of predictions as well as performance of simulated trading because success or failure of prediction is better measured by profits or losses the investors gain or suffer. In this paper, we propose a hybrid model that combines multiple kernel learning (MKL) and genetic algorithm (GA). MKL is adopted to optimize the stock price change rate prediction models that are expressed in a multiple kernel linear function of different types of features extracted from different sources. GA is used to optimize the trading rules used in the simulated trading by fusing the return predictions and values of three well-known overbought and oversold technical indicators. Accumulated return and Sharpe ratio were used to test the goodness of performance of the simulated trading. Experimental results show that our proposed model performed better than other models including ones using state of the art techniques. PMID:24790586

  7. 26 CFR 1.382-4 - Constructive ownership of stock.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... option to acquire such stock. (iv) General principles of tax law. This paragraph (d) does not affect the determination under general principles of tax law (such as substance over form) of whether an instrument is an... the segregation rules of § 1.382-2T(j)(2) and (3)(iii); or (iii) The transfer occurs in any of...

  8. 26 CFR 1.382-4 - Constructive ownership of stock.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... option to acquire such stock. (iv) General principles of tax law. This paragraph (d) does not affect the determination under general principles of tax law (such as substance over form) of whether an instrument is an... the segregation rules of § 1.382-2T(j)(2) and (3)(iii); or (iii) The transfer occurs in any of...

  9. 41 CFR 109-27.5003 - Stock control.

    Code of Federal Regulations, 2013 CFR

    2013-07-01

    ... 41 Public Contracts and Property Management 3 2013-07-01 2013-07-01 false Stock control. 109-27.5003 Section 109-27.5003 Public Contracts and Property Management Federal Property Management Regulations System (Continued) DEPARTMENT OF ENERGY PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT...

  10. 41 CFR 109-27.5003 - Stock control.

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... 41 Public Contracts and Property Management 3 2011-01-01 2011-01-01 false Stock control. 109-27.5003 Section 109-27.5003 Public Contracts and Property Management Federal Property Management Regulations System (Continued) DEPARTMENT OF ENERGY PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT...

  11. 41 CFR 109-27.5003 - Stock control.

    Code of Federal Regulations, 2012 CFR

    2012-01-01

    ... 41 Public Contracts and Property Management 3 2012-01-01 2012-01-01 false Stock control. 109-27.5003 Section 109-27.5003 Public Contracts and Property Management Federal Property Management Regulations System (Continued) DEPARTMENT OF ENERGY PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT...

  12. A self-similar hierarchy of the Korean stock market

    NASA Astrophysics Data System (ADS)

    Lim, Gyuchang; Min, Seungsik; Yoo, Kun-Woo

    2013-01-01

    A scaling analysis is performed on market values of stocks listed on Korean stock exchanges such as the KOSPI and the KOSDAQ. Different from previous studies on price fluctuations, market capitalizations are dealt with in this work. First, we show that the sum of the two stock exchanges shows a clear rank-size distribution, i.e., the Zipf's law, just as each separate one does. Second, by abstracting Zipf's law as a γ-sequence, we define a self-similar hierarchy consisting of many levels, with the numbers of firms at each level forming a geometric sequence. We also use two exponential functions to describe the hierarchy and derive a scaling law from them. Lastly, we propose a self-similar hierarchical process and perform an empirical analysis on our data set. Based on our findings, we argue that all money invested in the stock market is distributed in a hierarchical way and that a slight difference exists between the two exchanges.

  13. 60. View from stock bin trestle looking northeast at Babcock ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    60. View from stock bin trestle looking northeast at Babcock & Wilcox type boilers (manufactured by Casey-Hedges Co., Chattanooga, TN) where washed furnace gas is burned with natural gas and coal to generate heat for steam. - Sloss-Sheffield Steel & Iron, First Avenue North Viaduct at Thirty-second Street, Birmingham, Jefferson County, AL

  14. Damped oscillations in the ratios of stock market indices

    NASA Astrophysics Data System (ADS)

    Wu, Ming-Chya

    2012-02-01

    A stock market index is an average of a group of stock prices with weights. Different stock market indices derived from various combinations of stocks may share similar trends in certain periods, while it is not expected that there are fixed relations among them. Here we report our investigations on the daily index data of Dow Jones Industry Average (DJIA), NASDAQ, and S&P500 from 1971/02/05 to 2011/06/30. By analyzing the index ratios using the empirical mode decomposition, we find that the ratios NASDAQ/DJIA and S&500/DJIA, normalized to 1971/02/05, approached and then retained the values of 2 and 1, respectively. The temporal variations of the ratios consist of global trends and oscillatory components including a damped oscillation in 8-year cycle and damping factors of 7183 days (NASDAQ/DJIA) and 138471 days (S&P500/DJIA). Anomalies in the ratios, corresponding to significant increases and decreases of indices, only appear in the time scale less than an 8-year cycle. Detrended fluctuation analysis and multiscale entropy analysis of the components with cycles less than a half-year manifest a behavior of self-adjustment in the ratios, and the behavior in S&500/DJIA is more significant than in NASDAQ/DJIA.

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

    PubMed

    Diamond, P A

    2000-01-01

    In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent implies a long-run equity premium of 4.0 percent. There are two equity-premium concepts: the realized equity premium, which is measured by the actual rates of return; and the required equity premium, which investors expect to receive for being willing to hold available stocks and bonds. Over the past two centuries, the realized premium was 3.5 percent on average, but 5.2 percent for 1926 to 1998. Some critics argue that the 7.0 percent projected stock returns are too high. They base their arguments on recent developments in the capital market, the current high value of the stock market, and the expectation of slower economic growth. Increased use of mutual funds and the decline in their costs suggest a lower required premium, as does the rising fraction of the American public investing in stocks. The size of the decrease is limited, however, because the largest cost savings do not apply to the very wealthy and to large institutional investors, who hold a much larger share of the stock market's total value than do new investors. These trends suggest a lower equity premium for projections than the 5.2 percent of the past 75 years. Also, a declining required premium is likely to imply a temporary increase in the realized premium because a rising willingness to hold stocks tends to increase their price. Therefore, it would be a mistake during a transition period to extrapolate what may be a temporarily high realized return. In the standard (Solow) economic growth model, an assumption of slower long-run growth lowers the marginal product of capital if the savings rate is constant

  16. Multivariate Comparative Analysis of Stock Exchanges: The European Perspective

    NASA Astrophysics Data System (ADS)

    Koralun-Bereźnicka, Julia

    The aim of the research is to perform a multivariate comparative analysis of 20 European stock exchanges in order to identify the main similarities between the objects. Due to the convergence process of capital markets in Europe the similarities between stock exchanges could be expected to increase over time. The research is meant to show whether and how these similarities change. Consequently, the distances between clusters of similar stock exchanges should become less significant, which the analysis also aims at verifying. The basis of comparison is a set of 48 monthly variables from the period January, 2003 to December, 2006. The variables are classified into three categories: size of the market, equity trading and bonds. The paper aims at identifying the clusters of alike stock exchanges and at finding the characteristic features of each of the distinguished groups. The obtained categorization to some extent corresponds with the division of the European Union into “new” and “old” member countries. Clustering method, performed for each quarter separately, also reveals that the classification is fairly stable in time. The factor analysis, which was carried out to reduce the number of variables, reveals three major factors behind the data, which are related with the earlier mentioned categories of variables.

  17. 12 CFR 615.5260 - Retirement of eligible borrower stock.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... Section 615.5260 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND FISCAL... equities for which such eligible borrower stock is exchanged in connection with a merger, consolidation, or... merger, consolidation or other reorganization or a transfer of territory. (2) Retirement in the...

  18. 26 CFR 1.1563-2 - Excluded stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... part of a plan of deferred compensation for the benefit of the employees of the parent corporation or... and which run in favor of the parent or subsidiary corporation. In general, any condition which... restricts or limits the employee's right to dispose of such stock and runs in favor of the...

  19. 26 CFR 1.1563-2 - Excluded stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... part of a plan of deferred compensation for the benefit of the employees of the parent corporation or... and which run in favor of the parent or subsidiary corporation. In general, any condition which... restricts or limits the employee's right to dispose of such stock and runs in favor of the...

  20. Registration of a diverse collection of sorghum genetic stocks

    Technology Transfer Automated Retrieval System (TEKTRAN)

    A collection of 507 sorghum (Sorghum bicolor (L.) Moench) genetic stocks (Reg. No. PI66327 through PI663723), originally curated by the late Dr. Keith F. Schertz, was registered. This collection is consisting of, among others, lines with distinct morphological and physiological attributes, irradiat...

  1. 41 CFR 101-30.101-3 - National stock number.

    Code of Federal Regulations, 2014 CFR

    2014-07-01

    ... 41 Public Contracts and Property Management 2 2014-07-01 2012-07-01 true National stock number. 101-30.101-3 Section 101-30.101-3 Public Contracts and Property Management Federal Property Management Regulations System FEDERAL PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT 30-FEDERAL CATALOG SYSTEM...

  2. 41 CFR 101-30.101-3 - National stock number.

    Code of Federal Regulations, 2012 CFR

    2012-07-01

    ... 41 Public Contracts and Property Management 2 2012-07-01 2012-07-01 false National stock number. 101-30.101-3 Section 101-30.101-3 Public Contracts and Property Management Federal Property Management Regulations System FEDERAL PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT 30-FEDERAL CATALOG SYSTEM...

  3. 41 CFR 101-30.101-3 - National stock number.

    Code of Federal Regulations, 2011 CFR

    2011-07-01

    ... 41 Public Contracts and Property Management 2 2011-07-01 2007-07-01 true National stock number. 101-30.101-3 Section 101-30.101-3 Public Contracts and Property Management Federal Property Management Regulations System FEDERAL PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT 30-FEDERAL CATALOG SYSTEM...

  4. 41 CFR 101-30.101-3 - National stock number.

    Code of Federal Regulations, 2013 CFR

    2013-07-01

    ... 41 Public Contracts and Property Management 2 2013-07-01 2012-07-01 true National stock number. 101-30.101-3 Section 101-30.101-3 Public Contracts and Property Management Federal Property Management Regulations System FEDERAL PROPERTY MANAGEMENT REGULATIONS SUPPLY AND PROCUREMENT 30-FEDERAL CATALOG SYSTEM...

  5. 21 CFR 880.5780 - Medical support stocking.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 21 Food and Drugs 8 2011-04-01 2011-04-01 false Medical support stocking. 880.5780 Section 880.5780 Food and Drugs FOOD AND DRUG ADMINISTRATION, DEPARTMENT OF HEALTH AND HUMAN SERVICES (CONTINUED... legs is a device that is constructed of elastic material and designed to apply controlled pressure...

  6. 12 CFR 7.2023 - Reverse stock splits.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... and provides adequate dissenting shareholders' rights. (b) Legitimate corporate purpose. Examples of legitimate corporate purposes include a reverse stock split to: (1) Reduce the number of shareholders in order to qualify as a Subchapter S corporation; and (2) Reduce costs associated with...

  7. Estimating influence of stocking regimes on livestock grazing distributions

    Technology Transfer Automated Retrieval System (TEKTRAN)

    Ungulates often concentrate grazing at small hotspots in the larger landscape, and dispersing livestock away from these intensively grazed areas is one of the central challenges in range management. We evaluated a technique based on shifting the stocking date to prevent overgrazing of small areas co...

  8. 78 FR 19446 - Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-04-01

    ... public review and comment for 90 days (77 FR 47043, August 7, 2012). NMFS received comments on the draft... stocks (78 FR 3399, January 16, 2013). The public comment period on the revised reports closes on April... calculate PBR (Nmin*0.5Rmax*Fr) results in a number that is not consistent with the narrative definition...

  9. 78 FR 3399 - Draft 2012 Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-01-16

    ... for copies of reports to: Chief, Marine Mammal and Sea Turtle Conservation Division, Office of..., 2012 (77 FR 47043); the 90-day public comment period closed on November 5, 2012. Subsequent to.... The 2011 abundance estimate for fin whale, western North Atlantic stock, in the draft 2012 SAR (77...

  10. 26 CFR 1.382-4 - Constructive ownership of stock.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... the issuance or transfer of the option, the loss corporation engages in income acceleration... expected to avoid or ameliorate the impact of an ownership change. Examples of income acceleration... option to acquire such stock. (iv) General principles of tax law. This paragraph (d) does not affect...

  11. 26 CFR 1.382-4 - Constructive ownership of stock.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... the issuance or transfer of the option, the loss corporation engages in income acceleration... expected to avoid or ameliorate the impact of an ownership change. Examples of income acceleration... option to acquire such stock. (iv) General principles of tax law. This paragraph (d) does not affect...

  12. STOCK YARD LOOKING SOUTHEAST SHOWING OVERHEAD YARD CRANE RAIL, THE ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    STOCK YARD LOOKING SOUTHEAST SHOWING OVERHEAD YARD CRANE RAIL, THE MALLEABLE CUPOLAS AND EMISSION RECOVERY SYSTEM, OLD SHED ROOF THAT COVERED THE EARLIER MALLEABLE CUPOLA CHARGING CRANE, MALLEABLE FOUNDRY, AND POLLUTION CONTROL BAGHOUSE. - Stockham Pipe & Fittings Company, 4000 Tenth Avenue North, Birmingham, Jefferson County, AL

  13. Higher energy prices and the obsolescence of capital stock

    SciTech Connect

    Arnold, M.R.

    1982-01-01

    Increases in energy prices have increased the rate of obsolescence of capital of pre-1974 vintage capital. Higher energy prices have increased the costs of operating plant and machinery, as well as residential property and consumer durable goods, that were intensive users of energy. As a result, some capital stocks became obsolete as producers could no longer operate them profitably; other capital was or will be retired at an earlier date than expected at the time of purchase; and still other capital, particularly structures, was or will be converted at some expense to a more efficient use of energy. Current procedures for measuring capital stock have ignored this effect and, thus, they are biased upwards. This study corrects the measure of capital stock for several sectors of the economy and measures the increase in the rate of obsolescence. Lower levels of capital stock and slower rates of capital formation than currently measured explains part of the recent decline in the rate of productivity growth, increasing the residual measure of the growth rate of total factor-productivity.

  14. 78 FR 18235 - Unified Rule for Loss on Subsidiary Stock

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-03-26

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 Unified Rule for Loss on Subsidiary Stock CFR Correction 0 In Title 26 of the Code of Federal Regulations, Part 1 (Sec. Sec. 1.1401 to 1.1550), revised as of April...

  15. 76 FR 20459 - Mutual to Stock Conversion Application

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-04-12

    ... Office of Thrift Supervision Mutual to Stock Conversion Application AGENCY: Office of Thrift Supervision... part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on proposed and continuing information collections, as required by...

  16. 76 FR 35084 - Mutual to Stock Conversion Application

    Federal Register 2010, 2011, 2012, 2013, 2014

    2011-06-15

    ... Office of Thrift Supervision Mutual to Stock Conversion Application AGENCY: Office of Thrift Supervision... request (ICR) described below has been submitted to the Office of Management and Budget (OMB) for review....reginfo.gov/public/do/PRAMain . ADDRESSES: Send comments, referring to the collection by title of...

  17. Building the Stock of College-Educated Labor Revisited

    ERIC Educational Resources Information Center

    Sjoquist, David L.; Winters, John V.

    2012-01-01

    In a recent paper in the "Journal of Human Resources," Dynarski (2008) used data from the 1 percent 2000 Census Public Use Microdata Sample (PUMS) files to demonstrate that merit scholarship programs in Georgia and Arkansas increased the stock of college-educated individuals in those states. This paper replicates the results in Dynarski (2008) but…

  18. 24 CFR 1000.312 - What is current assisted stock?

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 24 Housing and Urban Development 4 2011-04-01 2011-04-01 false What is current assisted stock? 1000.312 Section 1000.312 Housing and Urban Development REGULATIONS RELATING TO HOUSING AND URBAN... URBAN DEVELOPMENT NATIVE AMERICAN HOUSING ACTIVITIES Allocation Formula § 1000.312 What is...

  19. 21 CFR 880.5780 - Medical support stocking.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... in the legs—(1) Identification. A medical support stocking to prevent the pooling of blood in the legs is a device that is constructed of elastic material and designed to apply controlled pressure to the leg and that is intended for use in the prevention of pooling of blood in the leg....

  20. 21 CFR 880.5780 - Medical support stocking.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... in the legs—(1) Identification. A medical support stocking to prevent the pooling of blood in the legs is a device that is constructed of elastic material and designed to apply controlled pressure to the leg and that is intended for use in the prevention of pooling of blood in the leg....

  1. 21 CFR 880.5780 - Medical support stocking.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... in the legs—(1) Identification. A medical support stocking to prevent the pooling of blood in the legs is a device that is constructed of elastic material and designed to apply controlled pressure to the leg and that is intended for use in the prevention of pooling of blood in the leg....

  2. 21 CFR 880.5780 - Medical support stocking.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... in the legs—(1) Identification. A medical support stocking to prevent the pooling of blood in the legs is a device that is constructed of elastic material and designed to apply controlled pressure to the leg and that is intended for use in the prevention of pooling of blood in the leg....

  3. LOADING REEL AND PERFECTO STRIP STOCK FEEDER FOR #84 WATERBURYFARREL ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    LOADING REEL AND PERFECTO STRIP STOCK FEEDER FOR #84 WATERBURY-FARREL (U.S. GOVERNMENT) PRESS. THIS CONTINUOUS-FEED, 2-DRAW, 100 TON PRESS IS ONE OF TWO IN THE U.S. UNDER CONTRACT WITH THE DEPARTMENT OF DEFENSE FOR PRODUCTION OF BULLET JACKETS AND CARTRIDGE CASINGS. - American Brass Foundry, 70 Sayre Street, Buffalo, Erie County, NY

  4. 78 FR 32377 - Draft 2012 Marine Mammal Stock Assessment Reports

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-05-30

    ... compromise immune systems of animals, patterns in cause of death are helpful to provide insight into.... NMFS solicited public comments on the draft 2012 SARs on August 7, 2012 (77 FR 47043); the 90-day... revised draft 2012 SARs for these ten stocks (78 FR 3399, January 16, 2013). The public comment period...

  5. 15. VIEW OF ROLLING OPERATION. INGOTS AND BAR STOCK WERE ...

    Library of Congress Historic Buildings Survey, Historic Engineering Record, Historic Landscapes Survey

    15. VIEW OF ROLLING OPERATION. INGOTS AND BAR STOCK WERE ROLLED TO A SPECIFIED THICKNESS IN PREPARATION FOR FURTHER PROCESSING. (11/82) - Rocky Flats Plant, Uranium Rolling & Forming Operations, Southeast section of plant, southeast quadrant of intersection of Central Avenue & Eighth Street, Golden, Jefferson County, CO

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

    PubMed

    Diamond, P A

    2000-01-01

    In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent implies a long-run equity premium of 4.0 percent. There are two equity-premium concepts: the realized equity premium, which is measured by the actual rates of return; and the required equity premium, which investors expect to receive for being willing to hold available stocks and bonds. Over the past two centuries, the realized premium was 3.5 percent on average, but 5.2 percent for 1926 to 1998. Some critics argue that the 7.0 percent projected stock returns are too high. They base their arguments on recent developments in the capital market, the current high value of the stock market, and the expectation of slower economic growth. Increased use of mutual funds and the decline in their costs suggest a lower required premium, as does the rising fraction of the American public investing in stocks. The size of the decrease is limited, however, because the largest cost savings do not apply to the very wealthy and to large institutional investors, who hold a much larger share of the stock market's total value than do new investors. These trends suggest a lower equity premium for projections than the 5.2 percent of the past 75 years. Also, a declining required premium is likely to imply a temporary increase in the realized premium because a rising willingness to hold stocks tends to increase their price. Therefore, it would be a mistake during a transition period to extrapolate what may be a temporarily high realized return. In the standard (Solow) economic growth model, an assumption of slower long-run growth lowers the marginal product of capital if the savings rate is constant

  7. 26 CFR 1.247-1 - Deduction for dividends paid on preferred stock of public utilities.

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 26 Internal Revenue 3 2012-04-01 2012-04-01 false Deduction for dividends paid on preferred stock... Corporations § 1.247-1 Deduction for dividends paid on preferred stock of public utilities. (a) Amount of... public utility corporations (see paragraph (b) of this section) on certain preferred stock (see...

  8. 26 CFR 1.247-1 - Deduction for dividends paid on preferred stock of public utilities.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 3 2014-04-01 2014-04-01 false Deduction for dividends paid on preferred stock... Corporations § 1.247-1 Deduction for dividends paid on preferred stock of public utilities. (a) Amount of... public utility corporations (see paragraph (b) of this section) on certain preferred stock (see...

  9. 26 CFR 1.247-1 - Deduction for dividends paid on preferred stock of public utilities.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 26 Internal Revenue 3 2013-04-01 2013-04-01 false Deduction for dividends paid on preferred stock... Corporations § 1.247-1 Deduction for dividends paid on preferred stock of public utilities. (a) Amount of... public utility corporations (see paragraph (b) of this section) on certain preferred stock (see...

  10. 26 CFR 1.1091-1 - Losses from wash sales of stock or securities.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... determining under this section the 61-day period applicable to a short sale of stock or securities, the... into a contract or option to acquire) stock or securities identical to those sold short and subsequently delivers such stock or securities to close the short sale. (h) The following examples...

  11. 20 CFR 703.103 - Stock companies holding Treasury certificates of authority.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Stock companies holding Treasury certificates... REGULATIONS Authorization of Insurance Carriers § 703.103 Stock companies holding Treasury certificates of authority. A stock company furnishing evidence that it is authorized to write workmen's...

  12. 26 CFR 1.1296-1 - Mark to market election for marketable stock.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Mark to market election for marketable stock. 1....1296-1 Mark to market election for marketable stock. (a) Definitions—(1) Eligible RIC. An eligible RIC... stock, the excess, if any, of— (A) The amount of mark to market gain included in gross income of...

  13. 24 CFR 1000.314 - What is formula current assisted stock?

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 24 Housing and Urban Development 4 2011-04-01 2011-04-01 false What is formula current assisted... current assisted stock? Formula current assisted stock is current assisted stock as described in § 1000... recipient and are under management as indicated in the Formula Response Form. Formula current assisted...

  14. 24 CFR 1000.314 - What is formula current assisted stock?

    Code of Federal Regulations, 2012 CFR

    2012-04-01

    ... 24 Housing and Urban Development 4 2012-04-01 2012-04-01 false What is formula current assisted... current assisted stock? Formula current assisted stock is current assisted stock as described in § 1000... recipient and are under management as indicated in the Formula Response Form. Formula current assisted...

  15. 24 CFR 1000.314 - What is formula current assisted stock?

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 24 Housing and Urban Development 4 2013-04-01 2013-04-01 false What is formula current assisted... current assisted stock? Formula current assisted stock is current assisted stock as described in § 1000... recipient and are under management as indicated in the Formula Response Form. Formula current assisted...

  16. 24 CFR 1000.314 - What is formula current assisted stock?

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 24 Housing and Urban Development 4 2014-04-01 2014-04-01 false What is formula current assisted... current assisted stock? Formula current assisted stock is current assisted stock as described in § 1000... recipient and are under management as indicated in the Formula Response Form. Formula current assisted...

  17. 24 CFR 1000.314 - What is formula current assisted stock?

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false What is formula current assisted... current assisted stock? Formula current assisted stock is current assisted stock as described in § 1000... recipient and are under management as indicated in the Formula Response Form. Formula current assisted...

  18. 12 CFR 574.8 - Qualified stock issuances by undercapitalized savings associations or holding companies.

    Code of Federal Regulations, 2010 CFR

    2010-01-01

    ... stock by the acquiring savings and loan holding company. (5) The entire consideration for the stock issued is paid in cash by the acquiring savings and loan holding company. (6) At the time of the stock issuance, each savings association subsidiary of the acquiring savings and loan holding company (other...

  19. 26 CFR 1.1244(a)-1 - Loss on small business stock treated as ordinary loss.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Loss on small business stock treated as ordinary... Losses § 1.1244(a)-1 Loss on small business stock treated as ordinary loss. (a) In general. Subject to... transaction treated as a sale or exchange, such as worthlessness) of section 1244 stock which would...

  20. 26 CFR 1.1244(a)-1 - Loss on small business stock treated as ordinary loss.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 26 Internal Revenue 11 2014-04-01 2014-04-01 false Loss on small business stock treated as... Gains and Losses § 1.1244(a)-1 Loss on small business stock treated as ordinary loss. (a) In general... (including a transaction treated as a sale or exchange, such as worthlessness) of section 1244 stock...