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... 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. ...

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. ...

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... 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. ...

Providing plastic zone extrusion

DOE Office of Scientific and Technical Information (OSTI.GOV)

Manchiraju, Venkata Kiran; Feng, Zhili; David, Stan A.

Plastic zone extrusion may be provided. First, a compressor may generate frictional heat in stock to place the stock in a plastic zone of the stock. Then, a conveyer may receive the stock in its plastic zone from the compressor and transport the stock in its plastic zone from the compressor. Next, a die may receive the stock in its plastic zone from the conveyer and extrude the stock to form a wire.

C-Lines of Stocking for Southern Bottomland Hardwoods: A Guide to Identifying Insuffiecient Stocking

Treesearch

J.C.G. Goelz

1997-01-01

A B-line on a stocking chart represents suggested residual stocking after thinning, or minimum full stocking. A stand at the C-line on a stocking chart will achieve the B-line after a period of growth usually specified as 10 years. Four C-lines that reflect insufficient stocking of southern bottomland hardwoods are presented. These C-lines represent 10,15,20, and 25...

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.

Stock structure of sea otters (Enhydra lutris kenyoni) in Alaska

USGS Publications Warehouse

Gorbics, C.S.; Bodkin, James 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.

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.

Global socioeconomic material stocks rise 23-fold over the 20th century and require half of annual resource use

PubMed Central

Wiedenhofer, Dominik; Lauk, Christian; Haas, Willi; Tanikawa, Hiroki; Miatto, Alessio; Haberl, Helmut

2017-01-01

Human-made material stocks accumulating in buildings, infrastructure, and machinery play a crucial but underappreciated role in shaping the use of material and energy resources. Building, maintaining, and in particular operating in-use stocks of materials require raw materials and energy. Material stocks create long-term path-dependencies because of their longevity. Fostering a transition toward environmentally sustainable patterns of resource use requires a more complete understanding of stock-flow relations. Here we show that about half of all materials extracted globally by humans each year are used to build up or renew in-use stocks of materials. Based on a dynamic stock-flow model, we analyze stocks, inflows, and outflows of all materials and their relation to economic growth, energy use, and CO2 emissions from 1900 to 2010. Over this period, global material stocks increased 23-fold, reaching 792 Pg (±5%) in 2010. Despite efforts to improve recycling rates, continuous stock growth precludes closing material loops; recycling still only contributes 12% of inflows to stocks. Stocks are likely to continue to grow, driven by large infrastructure and building requirements in emerging economies. A convergence of material stocks at the level of industrial countries would lead to a fourfold increase in global stocks, and CO2 emissions exceeding climate change goals. Reducing expected future increases of material and energy demand and greenhouse gas emissions will require decoupling of services from the stocks and flows of materials through, for example, more intensive utilization of existing stocks, longer service lifetimes, and more efficient design. PMID:28167761

26 CFR 1.422-2 - Incentive stock options defined.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Incentive stock options defined. 1.422-2 Section... (CONTINUED) INCOME TAXES Certain Stock Options § 1.422-2 Incentive stock options defined. (a) Incentive stock option defined—(1) In general. The term incentive stock option means an option that meets the...

12 CFR 221.119 - Applicability of plan-lender provisions to financing of stock options and stock purchase rights...

Code of Federal Regulations, 2010 CFR

2010-01-01

... experience that in some nonqualified plans, particularly stock purchase plans, the credit arrangement is... financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code... PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.119 Applicability of plan-lender...

12 CFR 925.23 - Excess stock.

Code of Federal Regulations, 2010 CFR

2010-01-01

... the form of additional shares of Bank stock or otherwise issue any excess stock. A Bank shall not issue excess stock, as a dividend or otherwise, if after the issuance, the outstanding excess stock at...

26 CFR 1.1092(d)-2 - Personal property.

Code of Federal Regulations, 2010 CFR

2010-04-01

... principal holdings mimic the performance of the stocks included in the stock index (or alternatively a portfolio of stocks whose performance mimics the performance of the stocks included in the stock index). [T...

In-use product stocks link manufactured capital to natural capital.

PubMed

Chen, Wei-Qiang; Graedel, T E

2015-05-19

In-use stock of a product is the amount of the product in active use. In-use product stocks provide various functions or services on which we rely in our daily work and lives, and the concept of in-use product stock for industrial ecologists is similar to the concept of net manufactured capital stock for economists. This study estimates historical physical in-use stocks of 91 products and 9 product groups and uses monetary data on net capital stocks of 56 products to either approximate or compare with in-use stocks of the corresponding products in the United States. Findings include the following: (i) The development of new products and the buildup of their in-use stocks result in the increase in variety of in-use product stocks and of manufactured capital; (ii) substitution among products providing similar or identical functions reflects the improvement in quality of in-use product stocks and of manufactured capital; and (iii) the historical evolution of stocks of the 156 products or product groups in absolute, per capita, or per-household terms shows that stocks of most products have reached or are approaching an upper limit. Because the buildup, renewal, renovation, maintenance, and operation of in-use product stocks drive the anthropogenic cycles of materials that are used to produce products and that originate from natural capital, the determination of in-use product stocks together with modeling of anthropogenic material cycles provides an analytic perspective on the material linkage between manufactured capital and natural capital.

In-use product stocks link manufactured capital to natural capital

PubMed Central

Chen, Wei-Qiang; Graedel, T. E.

2015-01-01

In-use stock of a product is the amount of the product in active use. In-use product stocks provide various functions or services on which we rely in our daily work and lives, and the concept of in-use product stock for industrial ecologists is similar to the concept of net manufactured capital stock for economists. This study estimates historical physical in-use stocks of 91 products and 9 product groups and uses monetary data on net capital stocks of 56 products to either approximate or compare with in-use stocks of the corresponding products in the United States. Findings include the following: (i) The development of new products and the buildup of their in-use stocks result in the increase in variety of in-use product stocks and of manufactured capital; (ii) substitution among products providing similar or identical functions reflects the improvement in quality of in-use product stocks and of manufactured capital; and (iii) the historical evolution of stocks of the 156 products or product groups in absolute, per capita, or per-household terms shows that stocks of most products have reached or are approaching an upper limit. Because the buildup, renewal, renovation, maintenance, and operation of in-use product stocks drive the anthropogenic cycles of materials that are used to produce products and that originate from natural capital, the determination of in-use product stocks together with modeling of anthropogenic material cycles provides an analytic perspective on the material linkage between manufactured capital and natural capital. PMID:25733904

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, without...

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, without...

Converting partially-stocked aspen stands to fully-stocked stands in the Lake States: an economic analysis.

Treesearch

Jeffrey T. Olson; Allen L. Lundgren

1978-01-01

The 1968 Wisconsin Forest Survey showed large areas of aspen type that are not considered fully stocked. The economic feasibility of converting partially-stocked stands to full stocking is examined, and a rule presented for determining when a partially-stocked stand should be harvested to maximize its present value.

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, without...

12 CFR 221.7 - Supplement: Maximum loan value of margin stock and other collateral.

Code of Federal Regulations, 2010 CFR

2010-01-01

... value of margin stock and other collateral. (a) Maximum loan value of margin stock. The maximum loan... nonmargin stock and all other collateral. The maximum loan value of nonmargin stock and all other collateral... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Supplement: Maximum loan value of margin stock...

Stock Market Expectations of Dutch Households

PubMed Central

Hurd, Michael; van Rooij, Maarten; Winter, Joachim

2013-01-01

Despite its importance for the analysis of life-cycle behavior and, in particular, retirement planning, stock ownership by private households is poorly understood. Among other approaches to investigate this puzzle, recent research has started to elicit private households’ expectations of stock market returns. This paper reports findings from a study that collected data over a two-year period both on households’ stock market expectations (subjective probabilities of gains or losses) and on whether they own stocks. We document substantial heterogeneity in financial market expectations. Expectations are correlated with stock ownership. Over the two years of our data, stock market prices increased, and expectations of future stock market price changes also increased, lending support to the view that expectations are influenced by recent stock gains or losses. PMID:23997423

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.

Dispersal, mortality, and predation on recently-stocked rainbow trout in Dale Hollow Lake, Tennessee

USGS Publications Warehouse

Ivasauskas, Tomas J.; Bettoli, Phillip William

2011-01-01

Forty-four hatchery-raised rainbow trout (Oncorhynchus mykiss) were implanted with ultrasonic tags and stocked into Dale Hollow Lake, Tennessee, and tracked at least once per week for eight weeks to describe post-stocking dispersal rates, movements, and habitat use. Dispersal followed a three-stage pattern characterized by rapid movement away from each stocking site during the first week, relatively little dispersal during the next three weeks, and further dispersion during the final four weeks that fish were tracked. Rainbow trout exhibited a strong affinity for coves and were rarely encountered in the main channel. Tagged fish stocked in March exhibited lower mortality (Zweekly = 0.027) than those stocked in January (Zweekly = 0.062) during the first eight weeks post-stocking. Diets of potential predators in Dale Hollow Lake were examined. Walleye (Sander vitreus), smallmouth bass (Micropterus dolomieu), largemouth bass (M. salmoides), and holdover rainbow trout all preyed on recently stocked trout. Larger walleye were more likely to prey on stocked rainbow trout, and walleye of all sizes tended to prey on the smaller trout in each stocked cohort. Walleye were more likely to feed on rainbow trout during January than March. Effective stocking strategies should focus on reducing predation by stocking larger rainbow trout or by stocking when predation risk is minimized (i.e., March).

The Influence of the Number of Different Stocks on the Levy-Levy-Solomon Model

NASA Astrophysics Data System (ADS)

Kohl, R.

The stock market model of Levy, Levy, Solomon is simulated for more than one stock to analyze the behavior for a large number of investors. Small markets can lead to realistic looking prices for one and more stocks. A large number of investors leads to a semi-regular fashion simulating one stock. For many stocks, three of the stocks are semi-regular and dominant, the rest is chaotic. Aside from that we changed the utility function and checked the results.

Compression stockings

MedlinePlus

... medical supply store or online. Wash Your Stockings Every Day Keep the stockings clean: Wash the stockings each ... can, have two pairs. Wear one pair each day. Wash and dry the other pair. Replace your stockings every 3 to 6 months so that they maintain ...

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 exercise...

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 exercise...

26 CFR 1.305-4 - Distributions of common and preferred stock.

Code of Federal Regulations, 2011 CFR

2011-04-01

... of common stock, class A and class B. Dividends may be paid in stock or in cash on either class of stock without regard to the medium of payment of dividends on the other class. A dividend is declared on the class A stock payable in additional shares of class A stock and a dividend is declared on class B...

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 the...

The synchronicity between the stock and the stock index via information in market

NASA Astrophysics Data System (ADS)

Gao, Hai-Ling; Li, Jiang-Cheng; Guo, Wei; Mei, Dong-Cheng

2018-02-01

The synchronicity between the stock and the stock-index in a market system is investigated. The results show that: (i) the synchronicity between the stock and the stock-index increases with the rising degree of market information capitalized into stock prices in certain range; (ii) the synchronicity decreases for large firm-specific information; (iii) the stock return synchronicity is small compared to the big noise trading, however the variance noise facilitates the synchronization within the tailored realms. These findings may be helpful in understanding the effect of market information on synchronicity, especially for the response of firm-specific information and noise trading to synchronicity.

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.

Relative persistence and dispersal of age-0 and age-1 largemouth bass stocked into two Ohio River embayments

USGS Publications Warehouse

Hartman, K.J.; Janney, E.C.

2006-01-01

In October of 1998 the West Virginia Division of Natural Resources stocked age-0 [mean total length (MTL) = 178 mm] and age-1 (MTL = 273 mm) hatchery-reared largemouth bass into two embayments of the Ohio River. Stocked fish were fitted with both an anchor tag and a visible implant elastomer mark. A multifaceted sampling approach was undertaken to (1) evaluate the persistence of stocked largemouth bass, (2) estimate fidelity of stocked largemouth bass to release sites, and (3) compare return rates of the two age classes. Although stocked largemouth bass comprised the majority (81%) of all bass captured in electrofishing surveys of the stocked embayments during fall 1998, catches declined rapidly during winter 1998, and by spring and summer 1999 stocked largemouth bass were virtually absent from electrofishing surveys. Creel surveys indicated no catch of stocked largemouth bass in the release sites after winter 1998. Electrofishing surveys, creel surveys, and angler call-ins all suggested stocked fish did not persist and either moved out of the stocked embayments or died. The results suggest that stocking advanced-size largemouth bass into these embayments only provided a limited and short-term enhancement of the fishery in those areas.

Determining the efficacy of microsatellite DNA-based mixed-stock analysis of Lake Michigan’s lake whitefish commercial fishery

USGS Publications Warehouse

VanDeHey, Justin A.; Sloss, Brian L.; Peeters, Paul J.; Sutton, Trent M.

2009-01-01

Management of commercially exploited fish should be conducted at the stock level. If a mixed stock fishery exists, a comprehensive mixed stock analysis is required for stock-based management. The lake whitefish Coregonus clupeaformis comprises the primary commercial fishery across the Great Lakes. Recent research resolved that six genetic stocks of lake whitefish were present in Lake Michigan, and long-term tagging data indicate that Lake Michigan's lake whitefish commercial fishery is a mixed stock fishery. The objective of this research was to determine the usefulness of microsatellite data for conducting comprehensive mixed stock analyses of the Lake Michigan lake whitefish commercial fishery. We used the individual assignment method as implemented in the program ONCOR to determine the accuracy level at which microsatellite data can reliably identify component populations or stocks. Self-assignment of lake whitefish to their population and stock of origin ranged from > 96% to 100%. Evaluation of genetic stock discreteness indicated a moderately high degree of correct assignment (average = 75%); simulations indicated supplementing baseline data by ∼ 50 to 100 individuals could increase accuracy by up to 4.5%. Simulated mixed stock commercial harvests with known stock composition showed a high degree of correct proportional assignment between observed and predicted harvest values. These data suggest that a comprehensive mixed stock analysis of Lake Michigan's lake whitefish commercial fishery is viable and would provide valuable information for improving management.

26 CFR 1.1042-1T - Questions and answers relating to the sales of stock to employee stock ownership plans or certain...

Code of Federal Regulations, 2010 CFR

2010-04-01

... stock to employee stock ownership plans or certain cooperatives (temporary). 1.1042-1T Section 1.1042-1T...) INCOME TAXES Common Nontaxable Exchanges § 1.1042-1T Questions and answers relating to the sales of stock to employee stock ownership plans or certain cooperatives (temporary). Q-1: What does section 1042...

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

Code of Federal Regulations, 2013 CFR

2013-04-01

... 17 Commodity and Securities Exchanges 3 2013-04-01 2013-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock market...

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

Code of Federal Regulations, 2011 CFR

2011-04-01

... 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 Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock market...

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

Code of Federal Regulations, 2014 CFR

2014-04-01

... 17 Commodity and Securities Exchanges 4 2014-04-01 2014-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock market...

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

Code of Federal Regulations, 2012 CFR

2012-04-01

... 17 Commodity and Securities Exchanges 3 2012-04-01 2012-04-01 false Penny stock disclosure document relating to the penny stock market. 240.15g-2 Section 240.15g-2 Commodity and Securities Exchanges... Section 15(d) of the Act § 240.15g-2 Penny stock disclosure document relating to the penny stock market...

Statistical properties of trading activity in Chinese stock market

NASA Astrophysics Data System (ADS)

Sun, Xiaoqian; Cheng, Xueqi; Shen, Huawei; Wang, Zhaoyang

2010-08-01

We investigate the statistical properties of traders' trading behavior using cumulative distribution function(CDF). We analyze exchange data of 52 stocks for one-year period which contains non-manipulated stocks and manipulated stocks published by China Securities Regulatory Commission(CSRC). By analyzing the total number of transactions and the trading volume of each trader over a year, we find the cumulative distributions have power-law tails and the distributions between non-manipulated stocks and manipulated stocks are different. These findings can help us to detect the manipulated stocks.

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

Comparable stocks, boundedly rational stock markets and IPO entry rates.

PubMed

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.

A preliminary assessment of the impact of landslide, earthflow, and gully erosion on soil carbon stocks in New Zealand

NASA Astrophysics Data System (ADS)

Basher, Les; Betts, Harley; Lynn, Ian; Marden, Mike; McNeill, Stephen; Page, Mike; Rosser, Brenda

2018-04-01

In geomorphically active landscapes such as New Zealand, quantitative data on the relationship between erosion and soil carbon (C) are needed to establish the effect of erosion on past soil C stocks and future stock changes. The soil C model currently used in New Zealand for soil C stock reporting does not account for erosion. This study developed an approach to characterise the effect of erosion suitable for soil C stock reporting and provides an initial assessment of the magnitude of the effect of erosion. A series of case studies were used to establish the local effect of landslide, earthflow, and gully erosion on soil C stocks and to compare field measurements of soil C stocks with model estimates. Multitemporal erosion mapping from orthophotographs was used to characterise erosion history, identify soil sampling plot locations, and allow soil C stocks to be calculated accounting for erosion. All eroded plots had lower soil C stocks than uneroded (by mass movement and gully erosion) plots sampled at the same sites. Landsliding reduces soil C stocks at plot and landscape scale, largely as a result of individual large storms. After about 70 years, soil C stocks were still well below the value measured for uneroded plots (by 40% for scars and 20-30% for debris tails) indicating that the effect of erosion is very persistent. Earthflows have a small effect on estimates of baseline (1990) soil C stocks and reduce soil C stocks at landscape scale. Gullies have local influence on soil C stocks but because they cover a small proportion of the landscape have little influence at landscape scale. At many of the sites, the soil C model overestimates landscape-scale soil C stocks.

Can investor sentiment be used to predict the stock price? Dynamic analysis based on China stock market

NASA Astrophysics Data System (ADS)

Guo, Kun; Sun, Yi; Qian, Xin

2017-03-01

With the development of the social network, the interaction between investors in stock market became more fast and convenient. Thus, investor sentiment which can influence their investment decisions may be quickly spread and magnified through the network, and to a certain extent the stock market can be affected. This paper collected the user comments data from a popular professional social networking site of China stock market called Xueqiu, then the investor sentiment data can be obtained through semantic analysis. The dynamic analysis on relationship between investor sentiment and stock market is proposed based on Thermal Optimal Path (TOP) method. The results show that the sentiment data was not always leading over stock market price, and it can be used to predict the stock price only when the stock has high investor attention.

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

DOE Office of Scientific and Technical Information (OSTI.GOV)

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.more » 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.« less

Arbitrage and Volatility in Chinese Stock's Markets

NASA Astrophysics Data System (ADS)

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

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

Degree-strength correlation reveals anomalous trading behavior.

PubMed

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

2012-01-01

Manipulation is an important issue for both developed and emerging stock markets. Many efforts have been made to detect manipulation in stock markets. However, it is still an open problem to identify the fraudulent traders, especially when they collude with each other. In this paper, we focus on the problem of identifying the anomalous traders using the transaction data of eight manipulated stocks and forty-four non-manipulated stocks during a one-year period. By analyzing the trading networks of stocks, we find that the trading networks of manipulated stocks exhibit significantly higher degree-strength correlation than the trading networks of non-manipulated stocks and the randomized trading networks. We further propose a method to detect anomalous traders of manipulated stocks based on statistical significance analysis of degree-strength correlation. Experimental results demonstrate that our method is effective at distinguishing the manipulated stocks from non-manipulated ones. Our method outperforms the traditional weight-threshold method at identifying the anomalous traders in manipulated stocks. More importantly, our method is difficult to be fooled by colluded traders.

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.

A fuzzy logic model to forecast stock market momentum in Indonesia's property and real estate sector

NASA Astrophysics Data System (ADS)

Penawar, H. K.; Rustam, Z.

2017-07-01

The Capital market has the important role in Indonesia's economy. The capital market does not only support the economy of Indonesia but also being an indicator Indonesia's economy improvement. Something that has been traded in the capital market is stock (stock market). Nowadays, the stock market is full of uncertainty. That uncertainty values make predicting stock market is all that we have to do before we make a decision in the stock market. One that can be predicted in the stock market is momentum. To forecast stock market momentum, it can use fuzzy logic model. In the process of modeling, it will be used 14 days historical data that consisting the value of open, high, low, and close, to predict the next 5 days momentum categories. There are three momentum categories namely Bullish, Neutral, and Bearish. To illustrate the fuzzy logic model, we will use stocks data from several companies that listed on Indonesia Stock Exchange (IDX) in property and real estate sector.

75 FR 54928 - Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-09-09

... (``LOC'') orders executed in the NYSE Closing Auction. For stocks with a per share stock price of $1.00... stocks with a per share stock price less than $1.00 per share, the fee will change from (A) the lesser of... LOC orders executed in the NYSE Closing Auction. For stocks with a per share stock price of $1.00 or...

Cointegration analysis and influence rank—A network approach to global stock markets

NASA Astrophysics Data System (ADS)

Yang, Chunxia; Chen, Yanhua; Niu, Lei; Li, Qian

2014-04-01

In this paper, cointegration relationships among 26 global stock market indices over the periods of sub-prime and European debt crisis and their influence rank are investigated by constructing and analyzing directed and weighted cointegration networks. The obtained results are shown as follows: the crises have changed cointegration relationships among stock market indices, their cointegration relationship increased after the Lehman Brothers collapse, while the degree of cointegration gradually decreased from the sub-prime to European debt crisis. The influence of US, Japan and China market indices are entirely distinguished over different periods. Before European debt crisis US stock market is a ‘global factor’ which leads the developed and emerging markets, while the influence of US stock market decreased evidently during the European debt crisis. Before sub-prime crisis, there is no significant evidence to show that other stock markets co-move with China stock market, while it becomes more integrated with other markets during the sub-prime and European debt crisis. Among developed and emerging stock markets, the developed stock markets lead the world stock markets before European debt crisis, while due to the shock of sub-prime and European debt crisis, their influences decreased and emerging stock markets replaced them to lead global stock markets.

Effect of genetic selection on growth parameters and tonic immobility in Leghorn pullets.

PubMed

Anderson, K E; Jones, D R

2012-03-01

Four genetic stocks of Leghorn pullets were used to evaluate the effects of genetic selection on growth and fearfulness behavior. Three of the stocks were the Ottawa randombred control stocks from 1950 (CS5), 1959 (CS7), and 1972 (CS10). The fourth stock was a 1993 commercial laying stock (CCS) whose ancestors were involved in the formation of the randombred control stocks. Pullets were reared in a brood and grow poultry house with flat deck cages. Each stock was comprised of 840 birds with 21 replicates per strain. Body weight and feed consumption were monitored biweekly. At 16 wk of age, a 20-hen sample from each strain was analyzed for BW, body composition, and tonic immobility. There were significant (P < 0.05) differences among the stocks for BW of 1,403; 1,333; 1,332; and 1,428 g for the CS5, CS7, CS10, and CCS stocks, respectively. Furthermore, significant differences occurred with regard to feed consumption, livability, and frame size. There were no differences among the stocks in tonic immobility. Measurement of circulating corticosterone levels were shown to be significantly (P < 0.05) higher in the CCS stock (7.64 ng/mL) than for both the CS5 (4.50 ng/mL) and CS7 (4.61 ng/mL) stocks, whereas the CS10 stock was intermediate with 6.45 ng/mL. Genetic selection has affected growth parameters, although there appears to be no change in fearfulness behavior but an increase in corticosterone levels in stocks from later years.

Survival of hatchery-reared lake trout stocked near shore and off shore in Lake Ontario

USGS Publications Warehouse

Elrod, Joseph H.

1997-01-01

Establishing a stock of mature, hatchery-reared fish is necessary to restore a self-sustaining population of lake trout Salvelinus namaycush in Lake Ontario. Stocking fish off shore rather than near shore to reduce predation on these fish by large lake trout or piscivorous birds may enhance survival of hatchery-reared fish and accelerate establishment of a population of adults. Results of an earlier study did not support routinely stocking fish off shore by helicopter in Lake Ontario, but stresses associated with helicopter stocking suggested another method of transporting fish off shore might enhance survival. I conducted this study to determine whether stocking lake trout off shore by barge would enhance first-year survival. Two lots of yearling lake trout were stocked at each of four locations in Lake Ontario in May 1992. One lot was stocked from shore, and an identical lot was transported by barge 3.4–10.4 km off shore of nearshore locations and stocked in water 46–52 m deep. Fish were recovered during trawl, gillnet, and creel surveys in 1992–1996. First-year survival of lake trout stocked off shore tended to be better than that of fish stocked near shore. Predation by double-crested cormorantsPhalacrocorax auritus likely affected survival of fish stocked near shore at two locations, 7 and 37 km, respectively, from a nesting colony of 5,443 pairs of double-crested cormorants. Predation by large lake trout remains a viable hypothesis, which explains, at least partially, lower survival of lake trout stocked near shore at two other locations. Stocking lake trout off shore of traditional nearshore stocking sites likely will enhance first-year survival of hatchery-reared fish and promote accumulation of an adult population, especially for those occassions where nearshore stocking locations are near nesting colonies of double-crested cormorants.

Reducing Stock-Outs of Life Saving Malaria Commodities Using Mobile Phone Text-Messaging: SMS for Life Study in Kenya

PubMed Central

Githinji, Sophie; Kigen, Samwel; Memusi, Dorothy; Nyandigisi, Andrew; Mbithi, Agneta M.; Wamari, Andrew; Muturi, Alex N.; Jagoe, George; Barrington, Jim; Snow, Robert W.; Zurovac, Dejan

2013-01-01

Background Health facility stock-outs of life saving malaria medicines are common across Africa. Innovative ways of addressing this problem are urgently required. We evaluated whether SMS based reporting of stocks of artemether-lumefantrine (AL) and rapid diagnostic tests (RDT) can result in reduction of stock-outs at peripheral facilities in Kenya. Methods/Findings All 87 public health facilities in five Kenyan districts were included in a 26 week project. Weekly facility stock counts of four AL packs and RDTs were sent via structured incentivized SMS communication process from health workers’ personal mobile phones to a web-based system accessed by district managers. The mean health facility response rate was 97% with a mean formatting error rate of 3%. Accuracy of stock count reports was 79% while accuracy of stock-out reports was 93%. District managers accessed the system 1,037 times at an average of eight times per week. The system was accessed in 82% of the study weeks. Comparing weeks 1 and 26, stock-out of one or more AL packs declined by 38 percentage-points. Total AL stock-out declined by 5 percentage-points and was eliminated by the end of the project. Stock-out declines of individual AL packs ranged from 14 to 32 percentage-points while decline in RDT stock-outs was 24 percentage-points. District managers responded to 44% of AL and 73% of RDT stock-out signals by redistributing commodities between facilities. In comparison with national trends, stock-out declines in study areas were greater, sharper and more sustained. Conclusions Use of simple SMS technology ensured high reporting rates of reasonably accurate, real-time facility stock data that were used by district managers to undertake corrective actions to reduce stock-outs. Future work on stock monitoring via SMS should focus on assessing response rates without use of incentives and demonstrating effectiveness of such interventions on a larger scale. PMID:23349786

78 FR 66681 - Draft 2013 Marine Mammal Stock Assessment Reports

Federal Register 2010, 2011, 2012, 2013, 2014

2013-11-06

... may be publicly accessible. Do not submit Confidential Business Information or otherwise sensitive or... completed in 1995. The MMPA requires NMFS and FWS to review the SARs at least annually for strategic stocks... non-strategic stocks. The term ``strategic stock'' means a marine mammal stock: (A) For which the...

26 CFR 1.422-3 - Stockholder approval of incentive stock option plans.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Stockholder approval of incentive stock option... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Certain Stock Options § 1.422-3 Stockholder approval of incentive stock option plans. This section addresses the stockholder approval of incentive stock option...

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 in...

75 FR 56613 - Self-Regulatory Organizations; BATS Exchange, Inc.; NASDAQ OMX BX, Inc.; Chicago Board Options...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-09-16

... Stock Exchange, Inc.; EDGA Exchange, Inc.; EDGX Exchange, Inc.; International Securities Exchange LLC; The NASDAQ Stock Market LLC; National Stock Exchange, Inc.; New York Stock Exchange LLC; NYSE Amex LLC...''), NASDAQ OMX BX, Inc. (``BX''), Chicago Board Options Exchange, Incorporated (``CBOE''), Chicago Stock...

77 FR 34935 - Certain Frozen Warmwater Shrimp From the Socialist Republic of Vietnam: Notice of Court Decision...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-06-12

...: Amanda Foods (Vietnam) Ltd.; Bac Lieu Fisheries Joint Stock Company; Cadovimex Seafood Import- Export and Processing Joint Stock Company; Cafatex Fishery Joint Stock Corporation; Cam Ranh Seafoods Processing... Export Frozen Seafood Processing Joint Stock Company (``Minh Hai Jostoco''); Minh Hai Joint-Stock...

12 CFR 3.100 - Capital and surplus.

Code of Federal Regulations, 2010 CFR

2010-01-01

... shall include the amount of common stock outstanding and unimpaired plus the amount of perpetual preferred stock outstanding and unimpaired. (b) Capital Stock. The term capital stock as used in provisions of law relating to the capital stock of national banking associations, other than 12 U.S.C. 101, 177...

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

... Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in Outbound... issue of the Federal Register, the IRS and the Treasury Department are issuing temporary regulations... stock transfers for certain outbound asset reorganizations. The temporary regulations also modify the...

Binomial tree method for pricing a regime-switching volatility stock loans

NASA Astrophysics Data System (ADS)

Putri, Endah R. M.; Zamani, Muhammad S.; Utomo, Daryono B.

2018-03-01

Binomial model with regime switching may represents the price of stock loan which follows the stochastic process. Stock loan is one of alternative that appeal investors to get the liquidity without selling the stock. The stock loan mechanism resembles that of American call option when someone can exercise any time during the contract period. From the resembles both of mechanism, determination price of stock loan can be interpreted from the model of American call option. The simulation result shows the behavior of the price of stock loan under a regime-switching with respect to various interest rate and maturity.

Forecasting the realized volatility of the Chinese stock market: Do the G7 stock markets help?

NASA Astrophysics Data System (ADS)

Peng, Huan; Chen, Ruoxun; Mei, Dexiang; Diao, Xiaohua

2018-07-01

In this paper, we use a comprehensive look to investigate whether the G7 stock markets can contain predictive information to help in forecasting the Chinese stock market volatility. Our out-of-sample empirical results indicate the kitchen sink (HAR-RV-SK) model is able to attain better performance than the benchmark model (HAR-RV) and other models, implying that the G7 stock markets can help in predicting the one-day volatility of the Chinese stock market. Moreover, the kitchen sink strategy can beat the strategy of the simple combination forecasts. Finally, the G7 stock markets can indeed contain useful information, which can increase the accuracy forecasts of the Chinese stock market.

Weibo sentiments and stock return: A time-frequency view

PubMed Central

Liu, Zhixin; Zhao, Jichang; Su, Chiwei

2017-01-01

This study provides new insights into the relationships between social media sentiments and the stock market in China. Based on machine learning, we classify microblogs posted on Sina Weibo, a Twitter’s variant in China into five detailed sentiments of anger, disgust, fear, joy, and sadness. Using wavelet analysis, we find close positive linkages between sentiments and the stock return, which have both frequency and time-varying features. Five detailed sentiments are positively related to the stock return for certain periods, particularly since October 2014 at medium to high frequencies of less than ten trading days, when the stock return is undergoing significant fluctuations. Sadness appears to have a closer relationship with the stock return than the other four sentiments. As to the lead-lag relationships, the stock return causes Weibo sentiments rather than reverse for most of the periods with significant linkages. Compared with polarity sentiments (negative vs. positive), detailed sentiments provide more information regarding relationships between Weibo sentiments and the stock market. The stock market exerts positive effects on bullishness and agreement of microblogs. Meanwhile, agreement leads the stock return in-phase at the frequency of approximately 40 trading days, indicating that less disagreement improves certainty about the stock market. PMID:28672026

Combinatorial Algorithms for Portfolio Optimization Problems - Case of Risk Moderate Investor

NASA Astrophysics Data System (ADS)

Juarna, A.

2017-03-01

Portfolio optimization problem is a problem of finding optimal combination of n stocks from N ≥ n available stocks that gives maximal aggregate return and minimal aggregate risk. In this paper given N = 43 from the IDX (Indonesia Stock Exchange) group of the 45 most-traded stocks, known as the LQ45, with p = 24 data of monthly returns for each stock, spanned over interval 2013-2014. This problem actually is a combinatorial one where its algorithm is constructed based on two considerations: risk moderate type of investor and maximum allowed correlation coefficient between every two eligible stocks. The main outputs resulted from implementation of the algorithms is a multiple curve of three portfolio’s attributes, e.g. the size, the ratio of return to risk, and the percentage of negative correlation coefficient for every two chosen stocks, as function of maximum allowed correlation coefficient between each two stocks. The output curve shows that the portfolio contains three stocks with ratio of return to risk at 14.57 if the maximum allowed correlation coefficient between every two eligible stocks is negative and contains 19 stocks with maximum allowed correlation coefficient 0.17 to get maximum ratio of return to risk at 25.48.

Weibo sentiments and stock return: A time-frequency view.

PubMed

Xu, Yingying; Liu, Zhixin; Zhao, Jichang; Su, Chiwei

2017-01-01

This study provides new insights into the relationships between social media sentiments and the stock market in China. Based on machine learning, we classify microblogs posted on Sina Weibo, a Twitter's variant in China into five detailed sentiments of anger, disgust, fear, joy, and sadness. Using wavelet analysis, we find close positive linkages between sentiments and the stock return, which have both frequency and time-varying features. Five detailed sentiments are positively related to the stock return for certain periods, particularly since October 2014 at medium to high frequencies of less than ten trading days, when the stock return is undergoing significant fluctuations. Sadness appears to have a closer relationship with the stock return than the other four sentiments. As to the lead-lag relationships, the stock return causes Weibo sentiments rather than reverse for most of the periods with significant linkages. Compared with polarity sentiments (negative vs. positive), detailed sentiments provide more information regarding relationships between Weibo sentiments and the stock market. The stock market exerts positive effects on bullishness and agreement of microblogs. Meanwhile, agreement leads the stock return in-phase at the frequency of approximately 40 trading days, indicating that less disagreement improves certainty about the stock market.

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.

An evaluation of government-recommended stocking systems for sustaining pastoral businesses and ecosystems of the Alpine Meadows of the Qinghai-Tibetan Plateau.

PubMed

Wang, Yingxin; Hodgkinson, Kenneth C; Hou, Fujiang; Wang, Zhaofeng; Chang, Shenghua

2018-04-01

China introduced the "Retire Livestock and Restore Grassland" policy in 2003. It was strengthened in 2011 by additional funding for on-farm structures. On the Qinghai-Tibetan Plateau (QTP), fences were erected, livestock excluded from degraded areas, rotational stocking introduced, nighttime shelters were built, forages grown, and seed sown. However, the effectiveness of these actions and their value to Tibetan herders has been questioned. We conducted a sheep stocking experiment for 5 years in an Alpine Meadow region of the QTP to evaluate stocking options recommended by Government. Cold and warm season stocking each at three rates (0, 8, and 16 sheep/ha) and continuous stocking at 0 and 4 sheep/ha were compared. We measured live weights of sheep, plant species richness and evenness, root biomass and carbon (C), nitrogen (N) and phosphorus (P) contents of the 0-10 cm of soil. We found that resting grassland from stocking during the warm season for later cold season stocking significantly reduced plant species richness and evenness and root biomass but not soil C, N, and P. During cold season stocking, live weights of sheep declined whether at a stocking rate of 8 or 16 per ha. In contrast, sheep continuously stocked on grassland at 4 per ha gained weight throughout both the warm and cold seasons and plant species richness and evenness were maintained. Warm season stocking at 8 and 16 sheep/ha increased plant species richness and root biomass but reduced plant species evenness. Resting these alpine grasslands from stocking in the warm season has adverse consequences for plant conservation. Fencing from stocking in the warm season is not justified by this study; all grassland should be judiciously stocked during the warm season to maintain plant species richness. Neither resting nor stocking during the cold season appears to have any adverse consequences but sheltering and in-door feeding of sheep during the cold season may be more profitable than cold season stocking with use of open nighttime yards.

Stock-outs of essential health products in Mozambique - longitudinal analyses from 2011 to 2013.

PubMed

Wagenaar, Bradley H; Gimbel, Sarah; Hoek, Roxanne; Pfeiffer, James; Michel, Cathy; Manuel, João Luis; Cuembelo, Fatima; Quembo, Titos; Afonso, Pires; Gloyd, Stephen; Sherr, Kenneth

2014-07-01

To assess the relationship between health system factors and facility-level EHP stock-outs in Mozambique. Service provisions were assessed in 26 health facilities and 13 district warehouses in Sofala Province, Mozambique, from July to August in 2011-2013. Generalised estimating equations were used to model factors associated with facility-level availability of essential drugs, supplies and equipment. Stock-out rates for drugs ranged from 1.3% for oral rehydration solution to 20.5% for Depo-Provera and condoms, with a mean stock-out rate of 9.1%; mean stock-out rates were 15.4% for supplies and 4.1% for equipment. Stock-outs at the district level accounted for 27.1% (29/107) of facility-level drug stock-outs and 44.0% (37/84) of supply stock-outs. Each 10-km increase in the distance from district distribution warehouses was associated with a 31% (CI: 22-42%), 28% (CI: 17-40%) or 27% (CI: 7-50%) increase in rates of drug, supply or equipment stock-outs, respectively. The number of heath facility staff was consistently negatively associated with the occurrence of stock-outs. Facility-level stock-outs of EHPs in Mozambique are common and appear to disproportionately affect those living far from district capitals and near facilities with few health staff. The majority of facility-level EHP stock-outs in Mozambique occur when stock exists at the district distribution centre. Innovative methods are urgently needed to improve EHP supply chains, requesting and ordering of drugs, facility and district communication, and forecasting of future EHP needs in Mozambique. Increased investments in public-sector human resources for health could potentially decrease the occurrence of EHP stock-outs. © 2014 John Wiley & Sons Ltd.

Stock-outs of essential health products in Mozambique-longitudinal analyses from 2011 to 2013

PubMed Central

Wagenaar, Bradley H.; Gimbel, Sarah; Hoek, Roxanne; Pfeiffer, James; Michel, Cathy; Manuel, João Luis; Cuembelo, Fatima; Quembo, Titos; Afonso, Pires; Gloyd, Stephen; Sherr, Kenneth

2015-01-01

objectives To assess the relationship between health system factors and facility-level EHP stock-outs in Mozambique. methods Service provisions were assessed in 26 health facilities and 13 district warehouses in Sofala Province, Mozambique, from July to August in 2011–2013. Generalised estimating equations were used to model factors associated with facility-level availability of essential drugs, supplies and equipment. results Stock-out rates for drugs ranged from 1.3% for oral rehydration solution to 20.5% for Depo-Provera and condoms, with a mean stock-out rate of 9.1%; mean stock-out rates were 15.4% for supplies and 4.1% for equipment. Stock-outs at the district level accounted for 27.1% (29/107) of facility-level drug stock-outs and 44.0% (37/84) of supply stock-outs. Each 10-km increase in the distance from district distribution warehouses was associated with a 31% (CI: 22–42%), 28% (CI: 17–40%) or 27% (CI: 7–50%) increase in rates of drug, supply or equipment stock-outs, respectively. The number of heath facility staff was consistently negatively associated with the occurrence of stock-outs. conclusions Facility-level stock-outs of EHPs in Mozambique are common and appear to disproportionately affect those living far from district capitals and near facilities with few health staff. The majority of facility-level EHP stock-outs in Mozambique occur when stock exists at the district distribution centre. Innovative methods are urgently needed to improve EHP supply chains, requesting and ordering of drugs, facility and district communication, and forecasting of future EHP needs in Mozambique. Increased investments in public-sector human resources for health could potentially decrease the occurrence of EHP stock-outs. PMID:24724617

Geo-Referenced, Abundance Calibrated Ocean Distribution of Chinook Salmon (Oncorhynchus tshawytscha) Stocks across the West Coast of North America.

PubMed

Bellinger, M Renee; Banks, Michael A; Bates, Sarah J; Crandall, Eric D; Garza, John Carlos; Sylvia, Gil; Lawson, Peter W

2015-01-01

Understanding seasonal migration and localized persistence of populations is critical for effective species harvest and conservation management. Pacific salmon (genus Oncorhynchus) forecasting models predict stock composition, abundance, and distribution during annual assessments of proposed fisheries impacts. Most models, however, fail to account for the influence of biophysical factors on year-to-year fluctuations in migratory distributions and stock-specific survival. In this study, the ocean distribution and relative abundance of Chinook salmon (O. tshawytscha) stocks encountered in the California Current large marine ecosystem, U.S.A were inferred using catch-per-unit effort (CPUE) fisheries and genetic stock identification data. In contrast to stock distributions estimated through coded-wire-tag recoveries (typically limited to hatchery salmon), stock-specific CPUE provides information for both wild and hatchery fish. Furthermore, in contrast to stock composition results, the stock-specific CPUE metric is independent of other stocks and is easily interpreted over multiple temporal or spatial scales. Tests for correlations between stock-specific CPUE and stock composition estimates revealed these measures diverged once proportional contributions of locally rare stocks were excluded from data sets. A novel aspect of this study was collection of data both in areas closed to commercial fisheries and during normal, open commercial fisheries. Because fishing fleet efficiency influences catch rates, we tested whether CPUE differed between closed area (non-retention) and open area (retention) data sets. A weak effect was indicated for some, but not all, analyzed cases. Novel visualizations produced from stock-specific CPUE-based ocean abundance facilitates consideration of how highly refined, spatial and genetic information could be incorporated in ocean fisheries management systems and for investigations of biogeographic factors that influence migratory distributions of fish.

Geo-Referenced, Abundance Calibrated Ocean Distribution of Chinook Salmon (Oncorhynchus tshawytscha) Stocks across the West Coast of North America

PubMed Central

Bellinger, M. Renee; Banks, Michael A.; Bates, Sarah J.; Crandall, Eric D.; Garza, John Carlos; Sylvia, Gil; Lawson, Peter W.

2015-01-01

Understanding seasonal migration and localized persistence of populations is critical for effective species harvest and conservation management. Pacific salmon (genus Oncorhynchus) forecasting models predict stock composition, abundance, and distribution during annual assessments of proposed fisheries impacts. Most models, however, fail to account for the influence of biophysical factors on year-to-year fluctuations in migratory distributions and stock-specific survival. In this study, the ocean distribution and relative abundance of Chinook salmon (O. tshawytscha) stocks encountered in the California Current large marine ecosystem, U.S.A were inferred using catch-per-unit effort (CPUE) fisheries and genetic stock identification data. In contrast to stock distributions estimated through coded-wire-tag recoveries (typically limited to hatchery salmon), stock-specific CPUE provides information for both wild and hatchery fish. Furthermore, in contrast to stock composition results, the stock-specific CPUE metric is independent of other stocks and is easily interpreted over multiple temporal or spatial scales. Tests for correlations between stock-specific CPUE and stock composition estimates revealed these measures diverged once proportional contributions of locally rare stocks were excluded from data sets. A novel aspect of this study was collection of data both in areas closed to commercial fisheries and during normal, open commercial fisheries. Because fishing fleet efficiency influences catch rates, we tested whether CPUE differed between closed area (non-retention) and open area (retention) data sets. A weak effect was indicated for some, but not all, analyzed cases. Novel visualizations produced from stock-specific CPUE-based ocean abundance facilitates consideration of how highly refined, spatial and genetic information could be incorporated in ocean fisheries management systems and for investigations of biogeographic factors that influence migratory distributions of fish. PMID:26200779

76 FR 46866 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing of Proposed...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-03

... 20, Rule 9 (Cancellation of Transactions) and Interpretation and Policy .01 Thereunder Regarding the Cancellation of the Stock Leg of Stock- Option Transactions Done on the Exchange July 28, 2011. Pursuant to... Transactions) and Interpretation and Policy .01 thereunder regarding the cancellation of the stock leg of stock...

26 CFR 1.305-3 - Disproportionate distributions.

Code of Federal Regulations, 2011 CFR

2011-04-01

.... Dividends may be paid in stock or in cash on either class of stock without regard to the medium of payment... a corporation has two classes of common stock outstanding and cash dividends are paid on one class and stock dividends are paid on the other class, the stock dividends are treated as distributions to...

26 CFR 1.305-1 - Stock dividends.

Code of Federal Regulations, 2010 CFR

2010-04-01

... exchange for its convertible preferred class B stock. Under the terms of the class B stock, its conversion... 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...

76 FR 51439 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-18

...., International Securities Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC... Pause Pilot rules of the Markets to include all remaining NMS stocks (``Phase III Securities'').\\9\\ The... Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule...

76 FR 52028 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-19

... individual stock trading pause pursuant to the Pause Pilot on the primary listing market and those..., The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC, NYSE Arca, Inc., National...-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of...

26 CFR 1.1202-2 - Qualified small business stock; effect of redemptions.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 26 Internal Revenue 11 2014-04-01 2014-04-01 false Qualified small business stock; effect of... Qualified small business stock; effect of redemptions. (a) Redemptions from taxpayer or related person—(1) In general. Stock acquired by a taxpayer is not qualified small business stock if, in one or more...

26 CFR 1.1202-2 - Qualified small business stock; effect of redemptions.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 26 Internal Revenue 11 2013-04-01 2013-04-01 false Qualified small business stock; effect of... Qualified small business stock; effect of redemptions. (a) Redemptions from taxpayer or related person—(1) In general. Stock acquired by a taxpayer is not qualified small business stock if, in one or more...

26 CFR 1.1202-2 - Qualified small business stock; effect of redemptions.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Qualified small business stock; effect of... Qualified small business stock; effect of redemptions. (a) Redemptions from taxpayer or related person—(1) In general. Stock acquired by a taxpayer is not qualified small business stock if, in one or more...

26 CFR 1.1202-2 - Qualified small business stock; effect of redemptions.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 26 Internal Revenue 11 2012-04-01 2012-04-01 false Qualified small business stock; effect of... Qualified small business stock; effect of redemptions. (a) Redemptions from taxpayer or related person—(1) In general. Stock acquired by a taxpayer is not qualified small business stock if, in one or more...

Degree-Strength Correlation Reveals Anomalous Trading Behavior

PubMed Central

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

2012-01-01

Manipulation is an important issue for both developed and emerging stock markets. Many efforts have been made to detect manipulation in stock markets. However, it is still an open problem to identify the fraudulent traders, especially when they collude with each other. In this paper, we focus on the problem of identifying the anomalous traders using the transaction data of eight manipulated stocks and forty-four non-manipulated stocks during a one-year period. By analyzing the trading networks of stocks, we find that the trading networks of manipulated stocks exhibit significantly higher degree-strength correlation than the trading networks of non-manipulated stocks and the randomized trading networks. We further propose a method to detect anomalous traders of manipulated stocks based on statistical significance analysis of degree-strength correlation. Experimental results demonstrate that our method is effective at distinguishing the manipulated stocks from non-manipulated ones. Our method outperforms the traditional weight-threshold method at identifying the anomalous traders in manipulated stocks. More importantly, our method is difficult to be fooled by colluded traders. PMID:23082114

Soil Carbon Cycling - More than Changes in Soil Organic Carbon Stocks

NASA Astrophysics Data System (ADS)

Lorenz, K.

2015-12-01

Discussions about soil carbon (C) sequestration generally focus on changes in soil organic carbon (SOC) stocks. Global SOC mass in the top 1 m was estimated at about 1325 Pg C, and at about 3000 Pg C when deeper soil layers were included. However, both inorganically and organically bound carbon forms are found in soil but estimates on global soil inorganic carbon (SIC) mass are even more uncertain than those for SOC. Globally, about 947 Pg SIC may be stored in the top 1 m, and especially in arid and semi-arid regions SIC stocks can be many times great than SOC stocks. Both SIC and SOC stocks are vulnerable to management practices, and stocks may be enhanced, for example, by optimizing net primary production (NPP) by fertilization and irrigation (especially optimizing belowground NPP for enhancing SOC stocks), adding organic matter (including black C for enhancing SOC stocks), and reducing soil disturbance. Thus, studies on soil C stocks, fluxes, and vulnerability must look at both SIC and SOC stocks in soil profiles to address large scale soil C cycling.

Ambiguity aversion and household portfolio choice puzzles: Empirical evidence*

PubMed Central

Dimmock, Stephen G.; Kouwenberg, Roy; Mitchell, Olivia S.; Peijnenburg, Kim

2017-01-01

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences using custom-designed questions based on Ellsberg urns. As theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial assets in stocks, and foreign stock ownership, but it is positively related to own-company stock ownership. Conditional on stock ownership, ambiguity aversion is related to portfolio under-diversification, and during the financial crisis, ambiguity-averse respondents were more likely to sell stocks. PMID:28458446

Ambiguity aversion and household portfolio choice puzzles: Empirical evidence.

PubMed

Dimmock, Stephen G; Kouwenberg, Roy; Mitchell, Olivia S; Peijnenburg, Kim

2016-03-01

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences using custom-designed questions based on Ellsberg urns. As theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial assets in stocks, and foreign stock ownership, but it is positively related to own-company stock ownership. Conditional on stock ownership, ambiguity aversion is related to portfolio under-diversification, and during the financial crisis, ambiguity-averse respondents were more likely to sell stocks.

Analysis of stock investment selection based on CAPM using covariance and genetic algorithm approach

NASA Astrophysics Data System (ADS)

Sukono; Susanti, D.; Najmia, M.; Lesmana, E.; Napitupulu, H.; Supian, S.; Putra, A. S.

2018-03-01

Investment is one of the economic growth factors of countries, especially in Indonesia. Stocks is a form of investment, which is liquid. In determining the stock investment decisions which need to be considered by investors is to choose stocks that can generate maximum returns with a minimum risk level. Therefore, we need to know how to allocate the capital which may give the optimal benefit. This study discusses the issue of stock investment based on CAPM which is estimated using covariance and Genetic Algorithm approach. It is assumed that the stocks analyzed follow the CAPM model. To do the estimation of beta parameter on CAPM equation is done by two approach, first is to be represented by covariance approach, and second with genetic algorithm optimization. As a numerical illustration, in this paper analyzed ten stocks traded on the capital market in Indonesia. The results of the analysis show that estimation of beta parameters using covariance and genetic algorithm approach, give the same decision, that is, six underpriced stocks with buying decision, and four overpriced stocks with a sales decision. Based on the analysis, it can be concluded that the results can be used as a consideration for investors buying six under-priced stocks, and selling four overpriced stocks.

Cross-sectional test of the Fama-French three-factor model: Evidence from Bangladesh stock market

NASA Astrophysics Data System (ADS)

Hasan, Md. Zobaer; Kamil, Anton Abdulbasah

2014-09-01

Stock market is an important part of a country's economy. It supports the country's economic development and progress by encouraging the efficiency and profitability of firms. This research was designed to examine the risk-return association of companies in the Dhaka Stock Exchange (DSE) market of Bangladesh by using the Fama-French three-factor model structure. The model is based on three factors, which are stock beta, SMB (difference in returns of the portfolio with small market capitalisation minus that with big market capitalisation) and HML (difference in returns of the portfolio with high book-to-market ratio minus that with low book-to-market ratio). This study focused on the DSE market as it is one of the frontier emerging stock markets of South Asia. For this study, monthly stock returns from 71 non-financial companies were used for the period of January 2002 to December 2011. DSI Index was used as a proxy for the market portfolio and Bangladesh government 3-Month T-bill rate was used as the proxy for the risk-free asset. It was found that large capital stocks outperform small capital stocks and stocks with lower book-to-market ratios outperform stocks with higher book-to-market ratios in the context of Bangladesh stock market.

Growth, dispersal, mortality, and contribution of largemouth bass stocked into Chickamauga Lake, Tennessee

USGS Publications Warehouse

Hoffman, K.J.; Bettoli, P.W.

2005-01-01

Marked fingerling largemouth bass Micropterus salmoides (both northern M. s. salmoides and Florida subspecies M. s. floridanus and their hybrid) were stocked into Chickamauga Lake, Tennessee, to enhance angling and introgress the Florida subspecies into the local gene pool. We evaluated mass marking and stocking success by sampling the stocked fish for 1 year poststocking. More than 128,000 fingerlings (35-64 mm total length) were immersed in a solution of 500 mg/L oxytetracycline (OTC) for 6 h and stocked into four embayments in the lake in spring 2002; two additional embayments served as controls and were not stocked (these embayments contained only wild, indigenous fish). In a blind test, 97% of sagittal otoliths were correctly scored as marked or unmarked. In a subsequent test, the OTC marks were clearly visible on every otolith removed from 240 OTC-treated bass held for 30 d. Age-0 largemouth bass were sampled with DC electrofishing gear at 7-19, 44-61, and 119-139 d after stocking, and sampling was conducted along 100-m transects within 1 km of the stocking sites in each embayment. Of all recaptures in the first sample, 31% occurred more than 600 m from the nearest stocking site, indicating rapid dispersal by some fish. Survival of stocked and wild age-0 largemouth bass was similar and low (4.5-6.9%) in two embayments; in the other two embayments, stocked fish survived at lower rates (0-4.3%) than wild fish (33.7-49.9%). Mean catches of all age-0 largemouth bass in the first sample were positively related to the number of fish stocked. By October 2002, the mean catch of all age-0 largemouth bass was similar among embayments. Contribution of stocked fish declined to approximately 2% (2 of 91 fish) the following spring. Cost per fingerling increased from US$0.35 at stocking to $12.00 at 140 d poststocking. Increasing the abundance of largemouth bass was not the primary objective of this stocking effort, but stocked fish will have to survive much better if managers hope to introgress Florida largemouth bass genes into the resident population genome.

Sustainable management for rangelands in a variable climate: evidence and insights from northern Australia.

PubMed

O'Reagain, P J; Scanlan, J C

2013-03-01

Inter-annual rainfall variability is a major challenge to sustainable and productive grazing management on rangelands. In Australia, rainfall variability is particularly pronounced and failure to manage appropriately leads to major economic loss and environmental degradation. Recommended strategies to manage sustainably include stocking at long-term carrying capacity (LTCC) or varying stock numbers with forage availability. These strategies are conceptually simple but difficult to implement, given the scale and spatial heterogeneity of grazing properties and the uncertainty of the climate. This paper presents learnings and insights from northern Australia gained from research and modelling on managing for rainfall variability. A method to objectively estimate LTCC in large, heterogeneous paddocks is discussed, and guidelines and tools to tactically adjust stocking rates are presented. The possible use of seasonal climate forecasts (SCF) in management is also considered. Results from a 13-year grazing trial in Queensland show that constant stocking at LTCC was far more profitable and largely maintained land condition compared with heavy stocking (HSR). Variable stocking (VAR) with or without the use of SCF was marginally more profitable, but income variability was greater and land condition poorer than constant stocking at LTCC. Two commercial scale trials in the Northern Territory with breeder cows highlighted the practical difficulties of variable stocking and provided evidence that heavier pasture utilisation rates depress reproductive performance. Simulation modelling across a range of regions in northern Australia also showed a decline in resource condition and profitability under heavy stocking rates. Modelling further suggested that the relative value of variable v. constant stocking depends on stocking rate and land condition. Importantly, variable stocking may possibly allow slightly higher stocking rates without pasture degradation. Enterprise-level simulations run for breeder herds nevertheless show that poor economic performance can occur under constant stocking and even under variable stocking in some circumstances. Modelling and research results both suggest that a form of constrained flexible stocking should be applied to manage for climate variability. Active adaptive management and research will be required as future climate changes make managing for rainfall variability increasingly challenging.

26 CFR 1.306-3 - Section 306 stock defined.

Code of Federal Regulations, 2012 CFR

2012-04-01

... stock, if a distribution of money by the distributing corporation in lieu of such stock would have been... distribution of money by the distributing corporation in lieu of such stock would have been a dividend, the... distribution would have been a dividend if money had been distributed in lieu of the rights. When stock is...

26 CFR 1.306-3 - Section 306 stock defined.

Code of Federal Regulations, 2013 CFR

2013-04-01

... stock, if a distribution of money by the distributing corporation in lieu of such stock would have been... distribution of money by the distributing corporation in lieu of such stock would have been a dividend, the... distribution would have been a dividend if money had been distributed in lieu of the rights. When stock is...

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... stock shall be issued in installments with the appropriate number of shares issued after each payment is...

12 CFR 563b.505 - May my directors, officers, and their associates freely trade shares?

Code of Federal Regulations, 2010 CFR

2010-01-01

... your outstanding stock, and may purchase stock through any of your management or employee stock benefit..., DEPARTMENT OF THE TREASURY CONVERSIONS FROM MUTUAL TO STOCK FORM Standard Conversions Post-Conversion § 563b... certificate of stock that a director or officer purchases during the conversion or receives in connection with...

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…

12 CFR 925.19 - Par value and price of stock.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Par value and price of stock. 925.19 Section... ASSOCIATES MEMBERS OF THE BANKS Stock Requirements § 925.19 Par value and price of stock. The capital stock of each Bank shall be sold at par, unless the Board has fixed a higher price. ...

76 FR 51094 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-17

... of extraordinary market volatility as a pilot in S&P 500 Index stocks (``Pause Pilot''), approved by...., International Securities Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC... Stock Exchange (``CBSX'', the CBOE's stock trading facility). In particular, the Exchange is seeking to...

12 CFR 221.121 - Extension of credit in certain stock option and stock purchase plans.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Extension of credit in certain stock option and stock purchase plans. 221.121 Section 221.121 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD... FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.121...

26 CFR 1.338-3 - Qualification for the section 338 election.

Code of Federal Regulations, 2014 CFR

2014-04-01

... a corporation purchase the stock of target. If an individual forms a corporation (new P) to acquire target stock, new P can make a qualified stock purchase of target if new P is considered for tax purposes to purchase the target stock. Facts that may indicate that new P does not purchase the target stock...

26 CFR 1.338-3 - Qualification for the section 338 election.

Code of Federal Regulations, 2012 CFR

2012-04-01

... a corporation purchase the stock of target. If an individual forms a corporation (new P) to acquire target stock, new P can make a qualified stock purchase of target if new P is considered for tax purposes to purchase the target stock. Facts that may indicate that new P does not purchase the target stock...

26 CFR 1.338-3 - Qualification for the section 338 election.

Code of Federal Regulations, 2013 CFR

2013-04-01

... a corporation purchase the stock of target. If an individual forms a corporation (new P) to acquire target stock, new P can make a qualified stock purchase of target if new P is considered for tax purposes to purchase the target stock. Facts that may indicate that new P does not purchase the target stock...

26 CFR 1.338-3 - Qualification for the section 338 election.

Code of Federal Regulations, 2010 CFR

2010-04-01

... corporation purchase the stock of target. If an individual forms a corporation (new P) to acquire target stock, new P can make a qualified stock purchase of target if new P is considered for tax purposes to purchase the target stock. Facts that may indicate that new P does not purchase the target stock include...

Based on BP Neural Network Stock Prediction

ERIC Educational Resources Information Center

Liu, Xiangwei; Ma, Xin

2012-01-01

The stock market has a high profit and high risk features, on the stock market analysis and prediction research has been paid attention to by people. Stock price trend is a complex nonlinear function, so the price has certain predictability. This article mainly with improved BP neural network (BPNN) to set up the stock market prediction model, and…

26 CFR 1.1244(c)-2 - Small business corporation defined.

Code of Federal Regulations, 2014 CFR

2014-04-01

... sustained on post-November 1978 stock. The requirements of paragraph (c) of this section apply if a loss is sustained on pre-November 1978 stock. If losses are sustained on both pre-November 1978 stock and post... subsequently issuing pre-November 1978 stock. For a different rule that applies to post-November 1978 stock see...

26 CFR 1.1244(c)-2 - Small business corporation defined.

Code of Federal Regulations, 2012 CFR

2012-04-01

... sustained on post-November 1978 stock. The requirements of paragraph (c) of this section apply if a loss is sustained on pre-November 1978 stock. If losses are sustained on both pre-November 1978 stock and post... subsequently issuing pre-November 1978 stock. For a different rule that applies to post-November 1978 stock see...

26 CFR 1.1244(c)-2 - Small business corporation defined.

Code of Federal Regulations, 2011 CFR

2011-04-01

... sustained on post-November 1978 stock. The requirements of paragraph (c) of this section apply if a loss is sustained on pre-November 1978 stock. If losses are sustained on both pre-November 1978 stock and post... subsequently issuing pre-November 1978 stock. For a different rule that applies to post-November 1978 stock see...

12 CFR 563b.380 - May my employee stock ownership plan purchase conversion shares?

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 5 2010-01-01 2010-01-01 false May my employee stock ownership plan purchase... THE TREASURY CONVERSIONS FROM MUTUAL TO STOCK FORM Standard Conversions Offers and Sales of Stock § 563b.380 May my employee stock ownership plan purchase conversion shares? (a) Your tax-qualified...

Random matrix approach to group correlations in development country financial market

NASA Astrophysics Data System (ADS)

Qohar, Ulin Nuha Abdul; Lim, Kyuseong; Kim, Soo Yong; Liong, The Houw; Purqon, Acep

2015-12-01

Financial market is a borderless economic activity, everyone in this world has the right to participate in stock transactions. The movement of stocks is interesting to be discussed in various sciences, ranging from economists to mathe-maticians try to explain and predict the stock movement. Econophysics, as a discipline that studies the economic behavior using one of the methods in particle physics to explain stock movement. Stocks tend to be unpredictable probabilistic regarded as a probabilistic particle. Random Matrix Theory is one method used to analyze probabilistic particle is used to analyze the characteristics of the movement in the stock collection of developing country stock market shares of the correlation matrix. To obtain the characteristics of the developing country stock market and use characteristics of stock markets of developed countries as a parameter for comparison. The result shows market wide effect is not happened in Philipine market and weak in Indonesia market. Contrary, developed country (US) has strong market wide effect.

Factors associated with stocked cutthroat trout populations in high-mountain lakes

USGS Publications Warehouse

Bailey, Paul E.; Hubert, W.A.

2003-01-01

High-mountain lakes provide important fisheries in the Rocky Mountains; therefore we sought to gain an understanding of the relationships among environmental factors, accessibility to anglers, stocking rates, and features of stocks of cutthroat trout Oncorhynchus clarki in high-mountain lakes of the Bighorn Mountains, Wyoming. We sampled fish with experimental gill nets, measured lake habitat features, and calculated factors affecting angler access among 19 lakes that lacked sufficient natural reproduction to support salmonid fisheries and that were stocked at 1-, 2-, or 4-year intervals with fingerling cutthroat trout. We found that angler accessibility was probably the primary factor affecting stock structure, whereas stocking rates affected the densities of cutthroat trout among lakes. The maximum number of years survived after stocking appeared to have the greatest affect on biomass and population structure. Our findings suggest that control of harvest and manipulation of stocking densities can affect the density, biomass, and structure of cutthroat trout stocks in high-elevation lakes.

Detecting anomalous traders using multi-slice network analysis

NASA Astrophysics Data System (ADS)

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

2017-05-01

Manipulation is an important issue for both developed and emerging stock markets. Many efforts have been made to detect manipulation in stock market. However, it is still an open problem to identify the fraudulent traders, especially when they collude with each other. In this paper, we focus on the problem of identifying anomalous traders using the transaction data of 8 manipulated stocks and 42 non-manipulated stocks during a one-year period. For each stock, we construct a multi-slice trading network to characterize the daily trading behavior and the cross-day participation of each trader. Comparing the multi-slice trading network of manipulated stocks and non-manipulated stocks with their randomized version, we find that manipulated stocks exhibit high number of trader pairs that trade with each other in multiple days and high deviation from randomized network at correlation between trading frequency and trading activity. These findings are effective at distinguishing manipulated stocks from non-manipulated ones and at identifying anomalous traders.

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.

Genetic stock identification of immature chum salmon ( Oncorhynchus keta) in the western Bering Sea, 2004

NASA Astrophysics Data System (ADS)

Kang, Minho; Kim, Suam; Low, Loh-Lee

2016-03-01

Genetic stock identification studies have been widely applied to Pacific salmon species to estimate stock composition of complex mixed-stock fisheries. In a September-October 2004 survey, 739 chum salmon ( Oncorhynchus keta) specimens were collected from 23 stations in the western Bering Sea. We determined the genetic stock composition of immature chum salmon based on the previous mitochondria DNA baseline. Each regional estimate was computed based on the conditional maximum likelihood method using 1,000 bootstrap resampling and then pooled to the major regional groups: Korea - Japan - Primorie (KJP) / Russia (RU) / Northwest Alaska (NWA) / Alaska Peninsula - Southcentral Alaska - Southeast Alaska - British Columbia - Washington (ONA). The stock composition of immature chum salmon in the western Bering Sea was a mix of 0.424 KJP, 0.421 RU, 0.116 NWA, and 0.039 ONA stocks. During the study period, the contribution of Asian chum salmon stocks gradually changed from RU to KJP stock. In addition, North American populations from NWA and ONA were small but present near the vicinity of the Russian coast and the Commander Islands, suggesting that the study areas in the western Bering Sea were an important migration route for Pacific chum salmon originating both from Asia and North America during the months of September and October. These results make it possible to better understand the chum salmon stock composition of the mixed-stock fisheries in the western Bering Sea and the stock-specific distribution pattern of chum salmon on the high-seas.

Dominating clasp of the financial sector revealed by partial correlation analysis of the stock market.

PubMed

Kenett, Dror Y; Tumminello, Michele; Madi, Asaf; Gur-Gershgoren, Gitit; Mantegna, Rosario N; Ben-Jacob, Eshel

2010-12-20

What are the dominant stocks which drive the correlations present among stocks traded in a stock market? Can a correlation analysis provide an answer to this question? In the past, correlation based networks have been proposed as a tool to uncover the underlying backbone of the market. Correlation based networks represent the stocks and their relationships, which are then investigated using different network theory methodologies. Here we introduce a new concept to tackle the above question--the partial correlation network. Partial correlation is a measure of how the correlation between two variables, e.g., stock returns, is affected by a third variable. By using it we define a proxy of stock influence, which is then used to construct partial correlation networks. The empirical part of this study is performed on a specific financial system, namely the set of 300 highly capitalized stocks traded at the New York Stock Exchange, in the time period 2001-2003. By constructing the partial correlation network, unlike the case of standard correlation based networks, we find that stocks belonging to the financial sector and, in particular, to the investment services sub-sector, are the most influential stocks affecting the correlation profile of the system. Using a moving window analysis, we find that the strong influence of the financial stocks is conserved across time for the investigated trading period. Our findings shed a new light on the underlying mechanisms and driving forces controlling the correlation profile observed in a financial market.

Mixed stock analysis of Lake Michigan's Lake Whitefish Coregonus clupeaformis commercial fishery

USGS Publications Warehouse

Andvik, Ryan; Sloss, Brian L.; VanDeHey, Justin A.; Claramunt, Randall M.; Hansen, Scott P.; Isermann, Daniel A.

2016-01-01

Lake whitefish (Coregonus clupeaformis) support the primary commercial fishery in Lake Michigan. Discrete genetic stocks of lake whitefish have been identified and tagging data suggest stocks are mixed throughout much of the year. Our objectives were to determine if (1) differential stock harvest occurs in the commercial catch, (2) spatial differences in genetic composition of harvested fish were present, and (3) seasonal differences were present in the harvest by commercial fisheries that operate in management zones WI-2 and WFM-01 (Green Bay, Lake Michigan). Mixed stock analysis was conducted on 17 commercial harvest samples (n = 78–145/sample) collected from various ports lake-wide during 2009–2010. Results showed significant mixing with variability in stock composition across most samples. Samples consisted of two to four genetic stocks each accounting for ≥ 10% the catch. In 10 of 17 samples, the stock contributing the largest proportion made up < 60% of the harvest. In general, seasonal and annual differences existed in the proportional stock contribution at a single capture location. Samples from Wisconsin's primary commercial fishing management zone (WI-2) were composed predominately of fish from the Big Bay de Noc (Michigan) stock as opposed to the geographically proximate, North–Moonlight Bay (Wisconsin) stock. These findings have implications for management and allocation of fish to various quotas. Specifically, geographic location of harvest, the current means of allocating harvest quotas, is not the best predictor of genetic stock harvest.

Price-volume multifractal analysis and its application in Chinese stock markets

NASA Astrophysics Data System (ADS)

Yuan, Ying; Zhuang, Xin-tian; Liu, Zhi-ying

2012-06-01

An empirical research on Chinese stock markets is conducted using statistical tools. First, the multifractality of stock price return series, ri(ri=ln(Pt+1)-ln(Pt)) and trading volume variation series, vi(vi=ln(Vt+1)-ln(Vt)) is confirmed using multifractal detrended fluctuation analysis. Furthermore, a multifractal detrended cross-correlation analysis between stock price return and trading volume variation in Chinese stock markets is also conducted. It is shown that the cross relationship between them is also found to be multifractal. Second, the cross-correlation between stock price Pi and trading volume Vi is empirically studied using cross-correlation function and detrended cross-correlation analysis. It is found that both Shanghai stock market and Shenzhen stock market show pronounced long-range cross-correlations between stock price and trading volume. Third, a composite index R based on price and trading volume is introduced. Compared with stock price return series ri and trading volume variation series vi, R variation series not only remain the characteristics of original series but also demonstrate the relative correlation between stock price and trading volume. Finally, we analyze the multifractal characteristics of R variation series before and after three financial events in China (namely, Price Limits, Reform of Non-tradable Shares and financial crisis in 2008) in the whole period of sample to study the changes of stock market fluctuation and financial risk. It is found that the empirical results verified the validity of R.

Portfolio theory as a management tool to guide conservation and restoration of multi-stock fish populations

USGS Publications Warehouse

DuFour, Mark R.; May, Cassandra J.; Roseman, Edward F.; Ludsin, Stuart A.; Vandergoot, Christopher S.; Pritt, Jeremy J.; Fraker, Michael E.; Davis, Jeremiah J.; Tyson, Jeffery T.; Miner, Jeffery G.; Marschall, Elizabeth A.; Mayer, Christine M.

2015-01-01

Habitat degradation and harvest have upset the natural buffering mechanism (i.e., portfolio effects) of many large-scale multi-stock fisheries by reducing spawning stock diversity that is vital for generating population stability and resilience. The application of portfolio theory offers a means to guide management activities by quantifying the importance of multi-stock dynamics and suggesting conservation and restoration strategies to improve naturally occurring portfolio effects. Our application of portfolio theory to Lake Erie Sander vitreus (walleye), a large population that is supported by riverine and open-lake reef spawning stocks, has shown that portfolio effects generated by annual inter-stock larval fish production are currently suboptimal when compared to potential buffering capacity. Reduced production from riverine stocks has resulted in a single open-lake reef stock dominating larval production, and in turn, high inter-annual recruitment variability during recent years. Our analyses have shown (1) a weak average correlation between annual river and reef larval production (ρ̄ = 0.24), suggesting that a natural buffering capacity exists in the population, and (2) expanded annual production of larvae (potential recruits) from riverine stocks could stabilize the fishery by dampening inter-annual recruitment variation. Ultimately, our results demonstrate how portfolio theory can be used to quantify the importance of spawning stock diversity and guide management on ecologically relevant scales (i.e., spawning stocks) leading to greater stability and resilience of multi-stock populations and fisheries.

Stock price prediction using geometric Brownian motion

NASA Astrophysics Data System (ADS)

Farida Agustini, W.; Restu Affianti, Ika; Putri, Endah RM

2018-03-01

Geometric Brownian motion is a mathematical model for predicting the future price of stock. The phase that done before stock price prediction is determine stock expected price formulation and determine the confidence level of 95%. On stock price prediction using geometric Brownian Motion model, the algorithm starts from calculating the value of return, followed by estimating value of volatility and drift, obtain the stock price forecast, calculating the forecast MAPE, calculating the stock expected price and calculating the confidence level of 95%. Based on the research, the output analysis shows that geometric Brownian motion model is the prediction technique with high rate of accuracy. It is proven with forecast MAPE value ≤ 20%.

26 CFR 1.1032-1 - Disposition by a corporation of its own capital stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... involved. For example, the receipt by a corporation of the subscription price of shares of its stock upon... corporation of its own capital stock. (a) The disposition by a corporation of shares of its own stock... or issue price be equal to, in excess of, or less than, the par or stated value of such stock. Also...

26 CFR 1.305-4 - Distributions of common and preferred stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... the class A stock payable in additional shares of class A stock and a dividend is declared on class B... date of distribution at a price that is only slightly higher than the market price of class A stock on... marketability of the convertible stock, and the conversion price, it is reasonable to anticipate that within a...

76 FR 51447 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-18

... trading pause process during periods of extraordinary market volatility as a pilot in S&P 500 Index stocks... Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC, NYSE Arca, Inc... Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule Change To Amend Article 20, Rule...

26 CFR 1.1014-9 - Special rule with respect to DISC stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 995(c) as a dividend if the decedent had lived and sold such stock at its fair market value on the... DISC stock has a fair market value of $100. The estate does not elect the alternate valuation allowed... such stock from the decedent will take as a basis for such stock its fair market value at A's death...

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…

76 FR 25295 - Fisheries of the Exclusive Economic Zone Off Alaska; Bering Sea and Aleutian Islands King and...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-05-04

... crab rebuilding plan to define the stock as rebuilt the first year the stock biomass is above the level... stock assessment model to estimate the biomass level and fishing rate necessary to achieve maximum sustainable yield. Tier 4 stocks have a stock assessment model that estimates biomass using the historical...

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

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.

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.

Evaluation of Four Methods for Predicting Carbon Stocks of Korean Pine Plantations in Heilongjiang Province, China

PubMed Central

Gao, Huilin; Dong, Lihu; Li, Fengri; Zhang, Lianjun

2015-01-01

A total of 89 trees of Korean pine (Pinus koraiensis) were destructively sampled from the plantations in Heilongjiang Province, P.R. China. The sample trees were measured and calculated for the biomass and carbon stocks of tree components (i.e., stem, branch, foliage and root). Both compatible biomass and carbon stock models were developed with the total biomass and total carbon stocks as the constraints, respectively. Four methods were used to evaluate the carbon stocks of tree components. The first method predicted carbon stocks directly by the compatible carbon stocks models (Method 1). The other three methods indirectly predicted the carbon stocks in two steps: (1) estimating the biomass by the compatible biomass models, and (2) multiplying the estimated biomass by three different carbon conversion factors (i.e., carbon conversion factor 0.5 (Method 2), average carbon concentration of the sample trees (Method 3), and average carbon concentration of each tree component (Method 4)). The prediction errors of estimating the carbon stocks were compared and tested for the differences between the four methods. The results showed that the compatible biomass and carbon models with tree diameter (D) as the sole independent variable performed well so that Method 1 was the best method for predicting the carbon stocks of tree components and total. There were significant differences among the four methods for the carbon stock of stem. Method 2 produced the largest error, especially for stem and total. Methods 3 and Method 4 were slightly worse than Method 1, but the differences were not statistically significant. In practice, the indirect method using the mean carbon concentration of individual trees was sufficient to obtain accurate carbon stocks estimation if carbon stocks models are not available. PMID:26659257

Host Genes and Resistance/Sensitivity to Military Priority Pathogens

DTIC Science & Technology

2013-06-01

NZB/BlnJ (stock no. 684), C3H/HeJ (stock no. 659), BALB/cByJ (stock no. 1026), AKR /J (stock no. 648), B10.D2-H2/ oSnJ (stock no. 461), A /J (stock...person shall be subject to any penalty for failing to comply with a collection of information if it does not display a currently valid OMB control... A ; Williams, Robert W.; Boon, Adranius; Bix, Mark; Marion, Tony.     5e. TASK NUMBER 5f. WORK UNIT NUMBER 7. PERFORMING ORGANIZATION NAME(S

Regional-Scale Declines in Productivity of Pink and Chum Salmon Stocks in Western North America

PubMed Central

Malick, Michael J.; Cox, Sean P.

2016-01-01

Sockeye salmon (Oncorhynchus nerka) stocks throughout the southern part of their North American range have experienced declines in productivity over the past two decades. In this study, we tested the hypothesis that pink (O. gorbuscha) and chum (O. keta) salmon stocks have also experienced recent declines in productivity by investigating temporal and spatial trends in productivity of 99 wild North American pink and chum salmon stocks. We used a combination of population dynamics and time series models to quantify individual stock trends as well as common temporal trends in pink and chum salmon productivity across local, regional, and continental spatial scales. Our results indicated widespread declines in productivity of wild chum salmon stocks throughout Washington (WA) and British Columbia (BC) with 81% of stocks showing recent declines in productivity, although the exact form of the trends varied among regions. For pink salmon, the majority of stocks in WA and BC (65%) did not have strong temporal trends in productivity; however, all stocks that did have trends in productivity showed declining productivity since at least brood year 1996. We found weaker evidence of widespread declines in productivity for Alaska pink and chum salmon, with some regions and stocks showing declines in productivity (e.g., Kodiak chum salmon stocks) and others showing increases (e.g., Alaska Peninsula pink salmon stocks). We also found strong positive covariation between stock productivity series at the regional spatial scale for both pink and chum salmon, along with evidence that this regional-scale positive covariation has become stronger since the early 1990s in WA and BC. In general, our results suggest that common processes operating at the regional or multi-regional spatial scales drive productivity of pink and chum salmon stocks in western North America and that the effects of these process on productivity may change over time. PMID:26760510

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.

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.

50 CFR 648.20 - Mid-Atlantic Fishery Management Council ABC control rules.

Code of Federal Regulations, 2014 CFR

2014-10-01

... biology of the stock, fisheries that exploit the stock, and data collection methods; (iv) The stock... SSC to determine the following: (i) Key features of the stock biology, the fisheries that exploit it...

50 CFR 648.20 - Mid-Atlantic Fishery Management Council ABC control rules.

Code of Federal Regulations, 2013 CFR

2013-10-01

... biology of the stock, fisheries that exploit the stock, and data collection methods; (iv) The stock... SSC to determine the following: (i) Key features of the stock biology, the fisheries that exploit it...

50 CFR 648.20 - Mid-Atlantic Fishery Management Council ABC control rules.

Code of Federal Regulations, 2012 CFR

2012-10-01

... biology of the stock, fisheries that exploit the stock, and data collection methods; (iv) The stock... SSC to determine the following: (i) Key features of the stock biology, the fisheries that exploit it...

The mean time-limited crash rate of stock price

NASA Astrophysics Data System (ADS)

Li, Yun-Xian; Li, Jiang-Cheng; Yang, Ai-Jun; Tang, Nian-Sheng

2017-05-01

In this article we investigate the occurrence of stock market crash in an economy cycle. Bayesian approach, Heston model and statistical-physical method are considered. Specifically, Heston model and an effective potential are employed to address the dynamic changes of stock price. Bayesian approach has been utilized to estimate the Heston model's unknown parameters. Statistical physical method is used to investigate the occurrence of stock market crash by calculating the mean time-limited crash rate. The real financial data from the Shanghai Composite Index is analyzed with the proposed methods. The mean time-limited crash rate of stock price is used to describe the occurrence of stock market crash in an economy cycle. The monotonous and nonmonotonous behaviors are observed in the behavior of the mean time-limited crash rate versus volatility of stock for various cross correlation coefficient between volatility and price. Also a minimum occurrence of stock market crash matching an optimal volatility is discovered.

Financial liberalization and stock market cross-correlation: MF-DCCA analysis based on Shanghai-Hong Kong Stock Connect

NASA Astrophysics Data System (ADS)

Ruan, Qingsong; Zhang, Shuhua; Lv, Dayong; Lu, Xinsheng

2018-02-01

Based on the implementation of Shanghai-Hong Kong Stock Connect in China, this paper examines the effects of financial liberalization on stock market comovement using both multifractal detrended fluctuation analysis (MF-DFA) and multifractal detrended cross-correlation analysis (MF-DCCA) methods. Results based on MF-DFA confirm the multifractality of Shanghai and Hong Kong stock markets, and the market efficiency of Shanghai stock market increased after the implementation of this connect program. Besides, analysis based on MF-DCCA has verified the existence of persistent cross-correlation between Shanghai and Hong Kong stock markets, and the cross-correlation gets stronger after the launch of this liberalization program. Finally, we find that fat-tail distribution is the main source of multifractality in the cross-correlations before the stock connect program, while long-range correlation contributes to the multifractality after this program.

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.

Public and health professionals' misconceptions about the dynamics of body weight gain/loss.

PubMed

Abdel-Hamid, Tarek; Ankel, Felix; Battle-Fisher, Michele; Gibson, Bryan; Gonzalez-Parra, Gilberto; Jalali, Mohammad; Kaipainen, Kirsikka; Kalupahana, Nishan; Karanfil, Ozge; Marathe, Achla; Martinson, Brian; McKelvey, Karma; Sarbadhikari, Suptendra Nath; Pintauro, Stephen; Poucheret, Patrick; Pronk, Nicolaas; Qian, Ying; Sazonov, Edward; Van Oorschot, Kim; Venkitasubramanian, Akshay; Murphy, Philip

2014-01-01

Human body energy storage operates as a stock-and-flow system with inflow (food intake) and outflow (energy expenditure). In spite of the ubiquity of stock-and-flow structures, evidence suggests that human beings fail to understand stock accumulation and rates of change, a difficulty called the stock-flow failure. This study examines the influence of health care training and cultural background in overcoming stock-flow failure. A standardized protocol assessed lay people's and health care professionals' ability to apply stock-and-flow reasoning to infer the dynamics of weight gain/loss during the holiday season (621 subjects from seven countries). Our results indicate that both types of subjects exhibited systematic errors indicative of use of erroneous heuristics. Stock-flow failure was found across cultures and was not improved by professional health training. The problem of stock-flow failure as a transcultural global issue with education and policy implications is discussed.

26 CFR 1.1091-2 - Basis of stock or securities acquired in “wash sales”.

Code of Federal Regulations, 2010 CFR

2010-04-01

... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Wash Sales of Stock Or Securities § 1.1091-2 Basis of stock... illustrated by the following examples: Example 1. A purchased a share of common stock of the X Corporation for... common stock of the same corporation for $90. No loss from the sale is recognized under section 1091. The...

26 CFR 1.1032-3 - Disposition of stock or stock options in certain transactions not qualifying under any other...

Code of Federal Regulations, 2010 CFR

2010-04-01

... issuing corporation's stock from the issuing corporation for fair market value with cash contributed to... difference between the fair market value of the issuing corporation stock and the amount of money or the fair... market value of $100. To effectuate Y's agreement with C, X transfers to Y the X stock in a transaction...

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

PubMed

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

2015-01-01

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

Simulation of the effects of time and size at stocking on PCB accumulation in lake trout

USGS Publications Warehouse

Madenjian, Charles P.; Carpenter, Stephen R.

1993-01-01

Manipulations of size at stocking and timing of stocking have already been used to improve survival of stocked salmonines in the Great Lakes. It should be possible to stock salmonines into the Great Lakes in a way that reduces the rate of polychlorinated biphenyl (PCB) accumulation in these fishes. An individual-based model (IBM) was used to investigate the effects of size at stocking and timing of stocking on PCB accumulation by lake trout Salvelinus namaycush in Lake Michigan. The individual-based feature of the model allowed lake trout individuals to encounter prey fish individuals and then consume sufficiently small prey fish. The IBM accurately accounted for the variation in PCB concentrations observed within the Lake Michigan lake trout population. Results of the IBM simulations revealed that increasing the average size at stocking from 110 to 160 mm total length led to an increase in the average PCB concentration in the stocked cohort at age 5, after the fish had spent 4 years in the lake, from 2.33 to 2.65 mg/kg; the percentage of lake trout in the cohort at the end of the simulated time period with PCB concentration of 2 mg/kg or more increased from 62% to 79%. Thus, PCB contamination was reduced when the simulated size at stocking was smallest. An overall stocking strategy for lake trout into Lake Michigan should weigh this advantage regarding PCB contamination against the poor survival of lake trout that may occur if the trout are stocked at too small a size.

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. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine © The Author 2014; all rights reserved.

The alarming decline of Mediterranean fish stocks.

PubMed

Vasilakopoulos, Paraskevas; Maravelias, Christos D; Tserpes, George

2014-07-21

In recent years, fisheries management has succeeded in stabilizing and even improving the state of many global fisheries resources [1-5]. This is particularly evident in areas where stocks are exploited in compliance with scientific advice and strong institutional structures are in place [1, 5]. In Europe, the well-managed northeast (NE) Atlantic fish stocks have been recovering in response to decreasing fishing pressure over the past decade [3-6], albeit with a long way to go for a universal stock rebuild [3, 7]. Meanwhile, little is known about the temporal development of the European Mediterranean stocks, whose management relies on input controls that are often poorly enforced. Here, we perform a meta-analysis of 42 European Mediterranean stocks of nine species in 1990-2010, showing that exploitation rate has been steadily increasing, selectivity (proportional exploitation of juveniles) has been deteriorating, and stocks have been shrinking. We implement species-specific simulation models to quantify changes in exploitation rate and selectivity that would maximize long-term yields and halt stock depletion. We show that stocks would be more resilient to fishing and produce higher long-term yields if harvested a few years after maturation because current selectivity is far from optimal, especially for demersal stocks. The European Common Fisheries Policy that has assisted in improving the state of NE Atlantic fish stocks in the past 10 years has failed to deliver similar results for Mediterranean stocks managed under the same policy. Limiting juvenile exploitation, advancing management plans, and strengthening compliance, control, and enforcement could promote fisheries sustainability in the Mediterranean. Copyright © 2014 Elsevier Ltd. All rights reserved.

Emerging interdependence between stock values during financial crashes.

PubMed

Rocchi, Jacopo; Tsui, Enoch Yan Lok; Saad, David

2017-01-01

To identify emerging interdependencies between traded stocks we investigate the behavior of the stocks of FTSE 100 companies in the period 2000-2015, by looking at daily stock values. Exploiting the power of information theoretical measures to extract direct influences between multiple time series, we compute the information flow across stock values to identify several different regimes. While small information flows is detected in most of the period, a dramatically different situation occurs in the proximity of global financial crises, where stock values exhibit strong and substantial interdependence for a prolonged period. This behavior is consistent with what one would generally expect from a complex system near criticality in physical systems, showing the long lasting effects of crashes on stock markets.

Relationships among Energy Price Shocks, Stock Market, and the Macroeconomy: Evidence from China

PubMed Central

Cong, Rong-Gang; Shen, Shaochuan

2013-01-01

This paper investigates the interactive relationships among China energy price shocks, stock market, and the macroeconomy using multivariate vector autoregression. The results indicate that there is a long cointegration among them. A 1% rise in the energy price index can depress the stock market index by 0.54% and the industrial value-adding growth by 0.037%. Energy price shocks also cause inflation and have a 5-month lag effect on stock market, which may result in the stock market “underreacting.” The energy price can explain stock market fluctuations better than the interest rate over a longer time period. Consequently, investors should pay greater attention to the long-term effect of energy on the stock market. PMID:23690737

Emerging interdependence between stock values during financial crashes

PubMed Central

Tsui, Enoch Yan Lok; Saad, David

2017-01-01

To identify emerging interdependencies between traded stocks we investigate the behavior of the stocks of FTSE 100 companies in the period 2000-2015, by looking at daily stock values. Exploiting the power of information theoretical measures to extract direct influences between multiple time series, we compute the information flow across stock values to identify several different regimes. While small information flows is detected in most of the period, a dramatically different situation occurs in the proximity of global financial crises, where stock values exhibit strong and substantial interdependence for a prolonged period. This behavior is consistent with what one would generally expect from a complex system near criticality in physical systems, showing the long lasting effects of crashes on stock markets. PMID:28542278

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.

Value at Risk on Composite Price Share Index Stock Data

NASA Astrophysics Data System (ADS)

Oktaviarina, A.

2018-01-01

The financial servicest authority was declared Let’s Save Campaign on n commemoration of the World Savings Day that falls on this day, October 31, 2016. The activity was greeted enthusiastically by Indonesia Stock Exchange by taking out the slogan Let’s Save The Stocks. Stock is a form of investment that is expected to benefit in the future despite has risks. Value at Risk (VaR) is a method that can measure how much the risk of a financial investment. Composite Stock Price Indeks is the stock price index used by Indonesia Stock Exchange as stock volatility benchmarks in Indonesia. This study aimed to estimate Value at Risk (VaR) on closing price Composite Price Share Index Stock data on the period 20 September 2016 until 20 September 2017. Box-Pierce test results p value=0.9528 which is greater than a, that shows homoskedasticity. Value at Risk (VaR) with Variance Covariance Method is Rp.3.054.916,07 which means with 99% confindence interval someone who invests Rp.100.000.000,00 will get Rp.3.054.916,07 as a maximum loss.

Tapered structure construction

DOE Office of Scientific and Technical Information (OSTI.GOV)

Smith, Eric D.; Takata, Rosalind K.; Slocum, Alexander H.

Feeding stock used to form a tapered structure into a curving device such that each point on the stock undergoes rotational motion about a peak location of the tapered structure; and the stock meets a predecessor portion of stock along one or more adjacent edges.

78 FR 10643 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-02-14

... Band.\\14\\ Trading for an NMS stock exits a Limit State if, within 15 seconds of entering the Limit... Bid (Offer) is below (above) the Lower (Upper) Price Band and the NMS Stock is not in a Limit State...) Price Band and the NMS Stock is not in a Limit State; and (ii) trading in that NMS Stock deviates from...

78 FR 16325 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-03-14

...) Price Band.\\15\\ Trading for an NMS stock exits in a Limit State if, within 15 seconds of entering the...) Price Band and the NMS Stock is not in a Limit State. For example, assume the Lower Price Band for an NMS Stock is $9.50 and the Upper Price Band is $10.50, such NMS stock would be in a Straddle State if...

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

Properties of Base Stocks Obtained from Used Engine Oils by Acid/Clay Re-refining (Proprietes des Stocks de Base Obtenus par Regeneration des Huiles a Moteur Usees par le Procede de Traitement a l’Acide et a la Terre),

DTIC Science & Technology

1980-09-01

Research Conseil national Council Canada de recherches Canada LEY EL < PROPERTIES OF BASE STOCKS OBTAINED FROM USED ENGINE OILS BY ACID /CLAY RE-REFINING DTIC...MECHANICAL ENGINEERING REPORT Canad NC MP75 NRC NO. 18719 PROPERTIES OF BASE STOCKS OBTAINED FROM USED ENGINE OILS BY ACID /CLAY RE-REFINING (PROPRIETES...refined Base Stock ..................................... 10 3 Physical Test Data of Acid /Clay Process - Re-refined Base Stock Oils ............ 11 4

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

NASA Astrophysics Data System (ADS)

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

2008-02-01

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

An analysis of genetic stock identification on a small geographical scale using microsatellite markers, and its application in the management of a mixed-stock fishery for Atlantic salmon Salmo salar in Ireland.

PubMed

Ensing, D; Crozier, W W; Boylan, P; O'Maoiléidigh, N; McGinnity, P

2013-06-01

A genetic stock identification (GSI) study was undertaken in a fishery for Atlantic salmon Salmo salar to determine the effects of restrictive fishery management measures on the stock composition of the fishery, and if accurate and precise stock composition estimates could be achieved on the small geographical scale where this fishery operates, using a suite of only seven microsatellite loci. The stock composition of the Foyle fishery was shown to comprise almost exclusively of Foyle origin fish in the 3 years after restrictive measures were introduced in 2007, compared to 85% the year before. This showed that the restrictive measures resulted in the Foyle fishery being transformed from a mixed-stock fishery to an almost exclusively single-stock fishery, and showed how GSI studies can guide and evaluate management decisions to successfully manage these fisheries. Highly accurate and precise stock composition estimates were achieved in this study, using both cBAYES and ONCOR genetic software packages. This suggests accurate and precise stock composition is possible even on small geographical scales. © 2013 AFBINI. Journal of Fish Biology © 2013 The Fisheries Society of the British Isles.

How front-line healthcare workers respond to stock-outs of essential medicines in the Eastern Cape Province of South Africa.

PubMed

Hodes, R; Price, I; Bungane, N; Toska, E; Cluver, L

2017-08-25

Shortages of essential medicines are a daily occurrence in many of South Africa (SA)'s public health facilities. This study focuses on the responses of healthcare workers to stock-outs, investigating how actors at the 'front line' of public health delivery understand, experience and respond to shortages of essential medicines and equipment in their facilities. Findings are based on focus groups, observations and interviews with healthcare workers and patients at healthcare facilities in the Eastern Cape Province of SA, conducted as part of the Mzantsi Wakho study. The research revealed a discrepancy between 'informal' definitions of stock-outs and their reporting through formal stock-out management channels. Front-line healthcare workers had designed their own systems for classifying the severity of stock-outs, based on the product in question, and on their potential to access stocks from other facilities. Beyond formal systems of procurement and supply, healthcare workers had established vast networks of alternative communication and action, often using personal resources to procure medical supplies. Stock-outs were only reported when informal methods of stock-sharing did not secure top-up supplies. These findings have implications for understanding the frequency and severity of stock-outs, and for taking action to prevent and manage stock-outs effectively.

Global patterns of the dynamics of soil carbon and nitrogen stocks following afforestation: a meta-analysis.

PubMed

Li, Dejun; Niu, Shuli; Luo, Yiqi

2012-07-01

• Afforestation has been proposed as an effective method of carbon (C) sequestration; however, the magnitude and direction of soil carbon accumulation following afforestation and its regulation by soil nitrogen (N) dynamics are still not well understood. • We synthesized the results from 292 sites and carried out a meta-analysis to evaluate the dynamics of soil C and N stocks following afforestation. • Changes in soil C and N stocks were significantly correlated and had a similar temporal pattern. Significant C and N stock increases were found 30 and 50 yr after afforestation, respectively. Before these time points, C and N stocks were either depleted or unchanged. Carbon stock increased following afforestation on cropland and pasture, and in tropical, subtropical and boreal zones. The soil N stock increased in the subtropical zone. The soil C stock increased after afforestation with hardwoods such as Eucalyptus, but did not change after afforestation with softwoods such as pine. Soil N stocks increased and decreased, respectively, after afforestation with hardwoods (excluding Eucalyptus) and pine. • These results indicate that soil C and N stocks both increase with time after afforestation, and that C sequestration through afforestation depends on prior land use, climate and the tree species planted. © 2012 The Authors. New Phytologist © 2012 New Phytologist Trust.

An exotic long-term pattern in stock price dynamics.

PubMed

Wei, Jianrong; Huang, Jiping

2012-01-01

To accurately predict the movement of stock prices is always of both academic importance and practical value. So far, a lot of research has been reported to help understand the behavior of stock prices. However, some of the existing theories tend to render us the belief that the time series of stock prices are unpredictable on a long-term timescale. The question arises whether the long-term predictability exists in stock price dynamics. In this work, we analyze the price reversals in the US stock market and the Chinese stock market on the basis of a renormalization method. The price reversals are divided into two types: retracements (the downward trends after upward trends) and rebounds (the upward trends after downward trends), of which the intensities are described by dimensionless quantities, R(t) and R(b), respectively. We reveal that for both mature and emerging markets, the distribution of either retracements R(t) or rebounds R(b) shows two characteristic values, 0.335 and 0.665, both of which are robust over the long term. The methodology presented here provides a way to quantify the stock price reversals. Our findings strongly support the existence of the long-term predictability in stock price dynamics, and may offer a hint on how to predict the long-term movement of stock prices.

Real Time Updating Genetic Network Programming for Adapting to the Change of Stock Prices

NASA Astrophysics Data System (ADS)

Chen, Yan; Mabu, Shingo; Shimada, Kaoru; Hirasawa, Kotaro

The key in stock trading model is to take the right actions for trading at the right time, primarily based on the accurate forecast of future stock trends. Since an effective trading with given information of stock prices needs an intelligent strategy for the decision making, we applied Genetic Network Programming (GNP) to creating a stock trading model. In this paper, we propose a new method called Real Time Updating Genetic Network Programming (RTU-GNP) for adapting to the change of stock prices. There are three important points in this paper: First, the RTU-GNP method makes a stock trading decision considering both the recommendable information of technical indices and the candlestick charts according to the real time stock prices. Second, we combine RTU-GNP with a Sarsa learning algorithm to create the programs efficiently. Also, sub-nodes are introduced in each judgment and processing node to determine appropriate actions (buying/selling) and to select appropriate stock price information depending on the situation. Third, a Real Time Updating system has been firstly introduced in our paper considering the change of the trend of stock prices. The experimental results on the Japanese stock market show that the trading model with the proposed RTU-GNP method outperforms other models without real time updating. We also compared the experimental results using the proposed method with Buy&Hold method to confirm its effectiveness, and it is clarified that the proposed trading model can obtain much higher profits than Buy&Hold method.

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.

76 FR 35084 - Mutual to Stock Conversion Application

Federal Register 2010, 2011, 2012, 2013, 2014

2011-06-15

... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Mutual to Stock Conversion Application... invite comments on the following information collection. Title of Proposal: Mutual to Stock Conversion... and soundness of the proposed stock conversion. The purpose of the information collection is to...

A stocking guide for eastern white pine

Treesearch

James S. Philbrook; James P. Barrett; William B. Leak

1973-01-01

A stocking chart for eastern white pine is presented and described. The chart shows basal areas and numbers of trees by mean stand diameter, representing the upper limit in stocking for practical management (A curve) and minimum stocking for full site utilization (B curve).

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

Federal Register 2010, 2011, 2012, 2013, 2014

2013-11-22

... 1, Rule 1(jj) and the definition of ``Stock-Future'' from current Article 1, Rule 1(jj) to proposed... that ``Stock-Option'' is defined under proposed Article 1, Rule 1(jj) and ``Stock-Future'' is defined...

The roles of the trading time risks on stock investment return and risks in stock price crashes

NASA Astrophysics Data System (ADS)

Li, Jiang-Cheng; Dong, Zhi-Wei; Yang, Guo-Hui; Long, Chao

2017-03-01

The roles of the trading time risks (TTRs) on stock investment return and risks are investigated in the condition of stock price crashes with Hushen300 data (CSI300) and Dow Jones Industrial Average (ˆDJI), respectively. In order to describe the TTR, we employ the escape time that the stock price drops from the maximum to minimum value in a data window length (DWL). After theoretical and empirical research on probability density function of return, the results in both ˆDJI and CSI300 indicate that: (i) As increasing DWL, the expectation of returns and its stability are weakened. (ii) An optimal TTR is related to a maximum return and minimum risk of stock investment in stock price crashes.

Economic Stress and Mental Health: The Relationship Between the Stock Market and Neurotic Disorder Doctor Visits.

PubMed

Chen, Chun-Chih; Lin, Ying-Tzu; Liu, Tsai-Ching; Chen, Chin-Shyan

2016-12-01

This paper investigates the relationship between the stock market and the neurotic disorder doctor visits. We use aggregate data, partition the population by age and gender and examine the impact of changes in the stock market on neurotic disorders. Using doctor visits as a proxy measure of morbidity, we find evidence of some relationship between neurotic disorder morbidity and stock market variations. A stock market falling in a single day and the accumulation of daily stock market drops are both associated with more neurotic disorder doctor visits. We also observe more neurotic disorder doctor visits during periods of a low stock index for the elderly, regardless of gender. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

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.

Population dynamics and potential of fisheries stock enhancement: practical theory for assessment and policy analysis.

PubMed

Lorenzen, Kai

2005-01-29

The population dynamics of fisheries stock enhancement, and its potential for generating benefits over and above those obtainable from optimal exploitation of wild stocks alone are poorly understood and highly controversial. I review pertinent knowledge of fish population biology, and extend the dynamic pool theory of fishing to stock enhancement by unpacking recruitment, incorporating regulation in the recruited stock, and accounting for biological differences between wild and hatchery fish. I then analyse the dynamics of stock enhancement and its potential role in fisheries management, using the candidate stock of North Sea sole as an example and considering economic as well as biological criteria. Enhancement through release of recruits or advanced juveniles is predicted to increase total yield and stock abundance, but reduce abundance of the naturally recruited stock component through compensatory responses or overfishing. Economic feasibility of enhancement is subject to strong constraints, including trade-offs between the costs of fishing and hatchery releases. Costs of hatchery fish strongly influence optimal policy, which may range from no enhancement at high cost to high levels of stocking and fishing effort at low cost. Release of genetically maladapted fish reduces the effectiveness of enhancement, and is most detrimental overall if fitness of hatchery fish is only moderately compromised. As a temporary measure for the rebuilding of depleted stocks, enhancement cannot substitute for effort limitation, and is advantageous as an auxiliary measure only if the population has been reduced to a very low proportion of its unexploited biomass. Quantitative analysis of population dynamics is central to the responsible use of stock enhancement in fisheries management, and the necessary tools are available.

Statistical Properties and Pre-Hit Dynamics of Price Limit Hits in the Chinese Stock Markets

PubMed Central

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

2015-01-01

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

The molecular karyotype of the megabase chromosomes of Trypanosoma brucei stock 427.

PubMed

Melville, S E; Leech, V; Navarro, M; Cross, G A

2000-12-01

We present the molecular karyotype of the megabase chromosomes of Trypanosoma brucei stock 427, clone 221a. This cloned stock is most commonly used in research laboratories in genetic manipulation experiments and in studies of antigenic variation. Using 116 previously characterised chromosome-specific markers, we identify 11 diploid pairs of megabase chromosomes and detect no loss of synteny in EST and gene marker distribution between this stock and the genome project reference stock TREU 927/4. Nevertheless, the chromosomes of 427 are all larger than their homologues in 927, except chromosomes IIa and IXa. The greatest size variation is seen in chromosome I, the smallest of which is 1.1 Mb (927-Ia) and the largest 3.6 Mb (427-Ib). The total nuclear DNA content of both stocks has been estimated by comparison of the mobility of T. brucei and yeast chromosomes. Trypanosomes of stock 427 contain approximately 16.5 Mb more megabase chromosomal DNA than those of stock 927. We have detected the presence of bloodstream-form expression-site-associated sequences on eight or more megabase chromosomes. These sequences are not found on the same chromosomes in each stock. We have determined the chromosomal band location of nine characterised variant surface glycoprotein genes, including the currently expressed VSG 221. Our results demonstrate both the stability of the T. brucei genome, as illustrated by the conservation of syntenic groups of genes in the two stocks, and the polymorphic nature of the genomic regions involved in antigenic variation. We propose that the chromosomes of stock 427 be numbered to correspond to their homologues in the genome project reference stock TREU 927/4.

Comparison between global financial crisis and local stock disaster on top of Chinese stock network

NASA Astrophysics Data System (ADS)

Xia, Lisi; You, Daming; Jiang, Xin; Guo, Quantong

2018-01-01

The science of complex network theory can be usefully applied in many important fields, one of which is the finance. In these practical cases, a massive dataset can be represented as a very large network with certain attributes associated with its nodes and edges. As one of the most important components of financial market, stock market has been attracting more and more attention. In this paper, we propose a threshold model to build Chinese stock market networks and study the topological properties of these networks. To be specific, we compare the effects of different crises, namely the 2008 global crisis and the stock market disaster in 2015, on the threshold networks. Prices of the stocks belonging to the Shanghai and Shenzhen 300 index are considered for three periods: the global crisis, common period and the stock market disaster. We find the probability distribution of the cross-correlations of the stocks during the stock market disaster is fatter than that of others. Besides, the thresholds of cross-correlations are assigned to obtain the threshold networks and the power-law of degree distribution in these networks are observed in a certain range of threshold values. The networks during the stock market disaster also appear to have larger mean degree and modularity, which reveals the strong correlations among these stock prices. Our findings to some extent crosscheck the liquidity shortage reason which is believed to result in the outbreak of the stock market disaster. Moreover, we hope that this paper could give us a deeper understanding of the market's behavior and also lead to interesting future research about the problems of modern finance theory.

Accounting for biomass carbon stock change due to wildfire in temperate forest landscapes in Australia.

PubMed

Keith, Heather; Lindenmayer, David B; Mackey, Brendan G; Blair, David; Carter, Lauren; McBurney, Lachlan; Okada, Sachiko; Konishi-Nagano, Tomoko

2014-01-01

Carbon stock change due to forest management and disturbance must be accounted for in UNFCCC national inventory reports and for signatories to the Kyoto Protocol. Impacts of disturbance on greenhouse gas (GHG) inventories are important for many countries with large forest estates prone to wildfires. Our objective was to measure changes in carbon stocks due to short-term combustion and to simulate longer-term carbon stock dynamics resulting from redistribution among biomass components following wildfire. We studied the impacts of a wildfire in 2009 that burnt temperate forest of tall, wet eucalypts in south-eastern Australia. Biomass combusted ranged from 40 to 58 tC ha(-1), which represented 6-7% and 9-14% in low- and high-severity fire, respectively, of the pre-fire total biomass carbon stock. Pre-fire total stock ranged from 400 to 1040 tC ha(-1) depending on forest age and disturbance history. An estimated 3.9 TgC was emitted from the 2009 fire within the forest region, representing 8.5% of total biomass carbon stock across the landscape. Carbon losses from combustion were large over hours to days during the wildfire, but from an ecosystem dynamics perspective, the proportion of total carbon stock combusted was relatively small. Furthermore, more than half the stock losses from combustion were derived from biomass components with short lifetimes. Most biomass remained on-site, although redistributed from living to dead components. Decomposition of these components and new regeneration constituted the greatest changes in carbon stocks over ensuing decades. A critical issue for carbon accounting policy arises because the timeframes of ecological processes of carbon stock change are longer than the periods for reporting GHG inventories for national emissions reductions targets. Carbon accounts should be comprehensive of all stock changes, but reporting against targets should be based on human-induced changes in carbon stocks to incentivise mitigation activities.

Effects of cooking temperatures on the physicochemical properties and consumer acceptance of chicken stock.

PubMed

Krasnow, Mark; Bunch, Tucker; Shoemaker, Charles; Loss, Christopher R

2012-01-01

As a base for sauces, soups, and cooking liquids for meats, grains, and vegetables, stocks can be integral to the overall quality of restaurant menu items, however, science-based studies on the effects of cooking methods on the physiochemical and sensory properties of stock are lacking. The effects of starting (22 °C, 85 °C, and 99 °C) and cooking temperatures (85 °C and 99 °C) of chicken stock on clarity, color, viscosity, protein content, amino acid content, mineral content, and overall liking were measured. Protein content and viscosity were significantly higher for stocks cooked at 99 °C, but no effect on amino acid content, color, or clarity was observed. Calcium concentration in stocks cooked at 99 °C was significantly (P < 0.0001) lower (9.3 and 10.1 mg/mL, for stocks started at temperatures of 22 and 99 °C, respectively) than stock cooked at 85 °C (16.6 and 17.5 mg/mL for stocks started at temperatures of 22 and 85 °C, respectively). Stocks prepared at 99 °C scored higher on overall liking compared to commercial samples and those cooked at 85 °C (P= 0.0101). These data can be used by culinary scientists and professionals to develop more efficient techniques in the kitchen, and by product developers to optimize the overall quality and acceptance of stock. This work documents the effects of preparation method on the physical and chemical properties, and consumer acceptance of chicken stock. This information can be used by product developers, culinary scientists, and professional chefs to optimize stock-based products. Culinary educators can use this information to provide students with objective evidence-based rationale for the techniques underlying a celebrated culinary tradition. This is also an example of how research can facilitate collaboration between culinary and food science professionals. © 2011 Institute of Food Technologists®

Predicting crappie recruitment in Ohio reservoirs with spawning stock size, larval density, and chlorophyll concentrations

USGS Publications Warehouse

Bunnell, David B.; Hale, R. Scott; Vanni, Michael J.; Stein, Roy A.

2006-01-01

Stock-recruit models typically use only spawning stock size as a predictor of recruitment to a fishery. In this paper, however, we used spawning stock size as well as larval density and key environmental variables to predict recruitment of white crappies Pomoxis annularis and black crappies P. nigromaculatus, a genus notorious for variable recruitment. We sampled adults and recruits from 11 Ohio reservoirs and larvae from 9 reservoirs during 1998-2001. We sampled chlorophyll as an index of reservoir productivity and obtained daily estimates of water elevation to determine the impact of hydrology on recruitment. Akaike's information criterion (AIC) revealed that Ricker and Beverton-Holt stock-recruit models that included chlorophyll best explained the variation in larval density and age-2 recruits. Specifically, spawning stock catch per effort (CPE) and chlorophyll explained 63-64% of the variation in larval density. In turn, larval density and chlorophyll explained 43-49% of the variation in age-2 recruit CPE. Finally, spawning stock CPE and chlorophyll were the best predictors of recruit CPE (i.e., 74-86%). Although larval density and recruitment increased with chlorophyll, neither was related to seasonal water elevation. Also, the AIC generally did not distinguish between Ricker and Beverton-Holt models. From these relationships, we concluded that crappie recruitment can be limited by spawning stock CPE and larval production when spawning stock sizes are low (i.e., CPE , 5 crappies/net-night). At higher levels of spawning stock sizes, spawning stock CPE and recruitment were less clearly related. To predict recruitment in Ohio reservoirs, managers should assess spawning stock CPE with trap nets and estimate chlorophyll concentrations. To increase crappie recruitment in reservoirs where recruitment is consistently poor, managers should use regulations to increase spawning stock size, which, in turn, should increase larval production and recruits to the fishery.

Accounting for Biomass Carbon Stock Change Due to Wildfire in Temperate Forest Landscapes in Australia

PubMed Central

Keith, Heather; Lindenmayer, David B.; Mackey, Brendan G.; Blair, David; Carter, Lauren; McBurney, Lachlan; Okada, Sachiko; Konishi-Nagano, Tomoko

2014-01-01

Carbon stock change due to forest management and disturbance must be accounted for in UNFCCC national inventory reports and for signatories to the Kyoto Protocol. Impacts of disturbance on greenhouse gas (GHG) inventories are important for many countries with large forest estates prone to wildfires. Our objective was to measure changes in carbon stocks due to short-term combustion and to simulate longer-term carbon stock dynamics resulting from redistribution among biomass components following wildfire. We studied the impacts of a wildfire in 2009 that burnt temperate forest of tall, wet eucalypts in south-eastern Australia. Biomass combusted ranged from 40 to 58 tC ha−1, which represented 6–7% and 9–14% in low- and high-severity fire, respectively, of the pre-fire total biomass carbon stock. Pre-fire total stock ranged from 400 to 1040 tC ha−1 depending on forest age and disturbance history. An estimated 3.9 TgC was emitted from the 2009 fire within the forest region, representing 8.5% of total biomass carbon stock across the landscape. Carbon losses from combustion were large over hours to days during the wildfire, but from an ecosystem dynamics perspective, the proportion of total carbon stock combusted was relatively small. Furthermore, more than half the stock losses from combustion were derived from biomass components with short lifetimes. Most biomass remained on-site, although redistributed from living to dead components. Decomposition of these components and new regeneration constituted the greatest changes in carbon stocks over ensuing decades. A critical issue for carbon accounting policy arises because the timeframes of ecological processes of carbon stock change are longer than the periods for reporting GHG inventories for national emissions reductions targets. Carbon accounts should be comprehensive of all stock changes, but reporting against targets should be based on human-induced changes in carbon stocks to incentivise mitigation activities. PMID:25208298

An Applied Framework for Incorporating Multiple Sources of Uncertainty in Fisheries Stock Assessments.

PubMed

Scott, Finlay; Jardim, Ernesto; Millar, Colin P; Cerviño, Santiago

2016-01-01

Estimating fish stock status is very challenging given the many sources and high levels of uncertainty surrounding the biological processes (e.g. natural variability in the demographic rates), model selection (e.g. choosing growth or stock assessment models) and parameter estimation. Incorporating multiple sources of uncertainty in a stock assessment allows advice to better account for the risks associated with proposed management options, promoting decisions that are more robust to such uncertainty. However, a typical assessment only reports the model fit and variance of estimated parameters, thereby underreporting the overall uncertainty. Additionally, although multiple candidate models may be considered, only one is selected as the 'best' result, effectively rejecting the plausible assumptions behind the other models. We present an applied framework to integrate multiple sources of uncertainty in the stock assessment process. The first step is the generation and conditioning of a suite of stock assessment models that contain different assumptions about the stock and the fishery. The second step is the estimation of parameters, including fitting of the stock assessment models. The final step integrates across all of the results to reconcile the multi-model outcome. The framework is flexible enough to be tailored to particular stocks and fisheries and can draw on information from multiple sources to implement a broad variety of assumptions, making it applicable to stocks with varying levels of data availability The Iberian hake stock in International Council for the Exploration of the Sea (ICES) Divisions VIIIc and IXa is used to demonstrate the framework, starting from length-based stock and indices data. Process and model uncertainty are considered through the growth, natural mortality, fishing mortality, survey catchability and stock-recruitment relationship. Estimation uncertainty is included as part of the fitting process. Simple model averaging is used to integrate across the results and produce a single assessment that considers the multiple sources of uncertainty.

Spatial variability of soil carbon stock in the Urucu river basin, Central Amazon-Brazil.

PubMed

Ceddia, Marcos Bacis; Villela, André Luis Oliveira; Pinheiro, Érika Flávia Machado; Wendroth, Ole

2015-09-01

The Amazon Forest plays a major role in C sequestration and release. However, few regional estimates of soil organic carbon (SOC) stock in this ecoregion exist. One of the barriers to improve SOC estimates is the lack of recent soil data at high spatial resolution, which hampers the application of new methods for mapping SOC stock. The aims of this work were: (i) to quantify SOC stock under undisturbed vegetation for the 0-30 and the 0-100 cm under Amazon Forest; (ii) to correlate the SOC stock with soil mapping units and relief attributes and (iii) to evaluate three geostatistical techniques to generate maps of SOC stock (ordinary, isotopic and heterotopic cokriging). The study site is located in the Central region of Amazon State, Brazil. The soil survey covered the study site that has an area of 80 km(2) and resulted in a 1:10,000 soil map. It consisted of 315 field observations (96 complete soil profiles and 219 boreholes). SOC stock was calculated by summing C stocks by horizon, determined as a product of BD, SOC and the horizon thickness. For each one of the 315 soil observations, relief attributes were derived from a topographic map to understand SOC dynamics. The SOC stocks across 30 and 100 cm soil depth were 3.28 and 7.32 kg C m(-2), respectively, which is, 34 and 16%, lower than other studies. The SOC stock is higher in soils developed in relief forms exhibiting well-drained soils, which are covered by Upland Dense Tropical Rainforest. Only SOC stock in the upper 100 cm exhibited spatial dependence allowing the generation of spatial variability maps based on spatial (co)-regionalization. The CTI was inversely correlated with SOC stock and was the only auxiliary variable feasible to be used in cokriging interpolation. The heterotopic cokriging presented the best performance for mapping SOC stock. Copyright © 2015 Elsevier B.V. All rights reserved.

12 CFR 7.2023 - Reverse stock splits.

Code of Federal Regulations, 2010 CFR

2010-01-01

... Corporate Practices § 7.2023 Reverse stock splits. (a) Authority to engage in reverse stock splits. A national bank may engage in a reverse stock split if the transaction serves a legitimate corporate purpose and provides adequate dissenting shareholders' rights. (b) Legitimate corporate purpose. Examples of...

76 FR 20459 - Mutual to Stock Conversion Application

Federal Register 2010, 2011, 2012, 2013, 2014

2011-04-12

... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Mutual to Stock Conversion Application... collection. Title of Proposal: Mutual to Stock Conversion Application. OMB Number: 1550-0014. Form Numbers... furnished in the application in order to determine the safety and soundness of the proposed stock conversion...

17 CFR 229.402 - (Item 402) Executive compensation.

Code of Federal Regulations, 2013 CFR

2013-04-01

..., concise and understandable disclosure of all plan and non-plan compensation awarded to, earned by, or paid... stock units, phantom stock, phantom stock units, common stock equivalent units or any similar..., registrants may omit information regarding group life, health, hospitalization, or medical reimbursement plans...

17 CFR 229.402 - (Item 402) Executive compensation.

Code of Federal Regulations, 2012 CFR

2012-04-01

..., concise and understandable disclosure of all plan and non-plan compensation awarded to, earned by, or paid... stock units, phantom stock, phantom stock units, common stock equivalent units or any similar..., registrants may omit information regarding group life, health, hospitalization, or medical reimbursement plans...

17 CFR 229.402 - (Item 402) Executive compensation.

Code of Federal Regulations, 2010 CFR

2010-04-01

..., concise and understandable disclosure of all plan and non-plan compensation awarded to, earned by, or paid... stock units, phantom stock, phantom stock units, common stock equivalent units or any similar... to one person. Registrants may omit information regarding group life, health, hospitalization, or...

17 CFR 229.402 - (Item 402) Executive compensation.

Code of Federal Regulations, 2011 CFR

2011-04-01

..., concise and understandable disclosure of all plan and non-plan compensation awarded to, earned by, or paid... stock units, phantom stock, phantom stock units, common stock equivalent units or any similar... to one person. Registrants may omit information regarding group life, health, hospitalization, or...

Hot money and China's stock market volatility: Further evidence using the GARCH-MIDAS model

NASA Astrophysics Data System (ADS)

Wei, Yu; Yu, Qianwen; Liu, Jing; Cao, Yang

2018-02-01

This paper investigates the influence of hot money on the return and volatility of the Chinese stock market using a nonlinear Granger causality test and a new GARCH-class model based on mixed data sampling regression (GARCH-MIDAS). The empirical results suggest that no linear or nonlinear causality exists between the growth rate of hot money and the Chinese stock market return, implying that the Chinese stock market is not driven by hot money and vice versa. However, hot money has a significant positive impact on the long-term volatility of the Chinese stock market. Furthermore, the dependence between the long-term volatility caused by hot money and the total volatility of the Chinese stock market is time-variant, indicating that huge volatilities in the stock market are not always triggered by international speculation capital flow and that Chinese authorities should further focus on more systemic reforms in the trading rules and on effectively regulating the stock market.

The cross-correlation analysis of multi property of stock markets based on MM-DFA

NASA Astrophysics Data System (ADS)

Yang, Yujun; Li, Jianping; Yang, Yimei

2017-09-01

In this paper, we propose a new method called DH-MXA based on distribution histograms of Hurst surface and multiscale multifractal detrended fluctuation analysis. The method allows us to investigate the cross-correlation characteristics among multiple properties of different stock time series. It may provide a new way of measuring the nonlinearity of several signals. It also can provide a more stable and faithful description of cross-correlation of multiple properties of stocks. The DH-MXA helps us to present much richer information than multifractal detrented cross-correlation analysis and allows us to assess many universal and subtle cross-correlation characteristics of stock markets. We show DH-MXA by selecting four artificial data sets and five properties of four stock time series from different countries. The results show that our proposed method can be adapted to investigate the cross-correlation of stock markets. In general, the American stock markets are more mature and less volatile than the Chinese stock markets.

Volatility-constrained multifractal detrended cross-correlation analysis: Cross-correlation among Mainland China, US, and Hong Kong stock markets

NASA Astrophysics Data System (ADS)

Cao, Guangxi; Zhang, Minjia; Li, Qingchen

2017-04-01

This study focuses on multifractal detrended cross-correlation analysis of the different volatility intervals of Mainland China, US, and Hong Kong stock markets. A volatility-constrained multifractal detrended cross-correlation analysis (VC-MF-DCCA) method is proposed to study the volatility conductivity of Mainland China, US, and Hong Kong stock markets. Empirical results indicate that fluctuation may be related to important activities in real markets. The Hang Seng Index (HSI) stock market is more influential than the Shanghai Composite Index (SCI) stock market. Furthermore, the SCI stock market is more influential than the Dow Jones Industrial Average stock market. The conductivity between the HSI and SCI stock markets is the strongest. HSI was the most influential market in the large fluctuation interval of 1991 to 2014. The autoregressive fractionally integrated moving average method is used to verify the validity of VC-MF-DCCA. Results show that VC-MF-DCCA is effective.

Confidence and self-attribution bias in an artificial stock market.

PubMed

Bertella, Mario A; Pires, Felipe R; Rego, Henio H A; Silva, Jonathas N; Vodenska, Irena; Stanley, H Eugene

2017-01-01

Using an agent-based model we examine the dynamics of stock price fluctuations and their rates of return in an artificial financial market composed of fundamentalist and chartist agents with and without confidence. We find that chartist agents who are confident generate higher price and rate of return volatilities than those who are not. We also find that kurtosis and skewness are lower in our simulation study of agents who are not confident. We show that the stock price and confidence index-both generated by our model-are cointegrated and that stock price affects confidence index but confidence index does not affect stock price. We next compare the results of our model with the S&P 500 index and its respective stock market confidence index using cointegration and Granger tests. As in our model, we find that stock prices drive their respective confidence indices, but that the opposite relationship, i.e., the assumption that confidence indices drive stock prices, is not significant.

Lead-lag relationships between stock and market risk within linear response theory

NASA Astrophysics Data System (ADS)

Borysov, Stanislav; Balatsky, Alexander

2015-03-01

We study historical correlations and lead-lag relationships between individual stock risks (standard deviation of daily stock returns) and market risk (standard deviation of daily returns of a market-representative portfolio) in the US stock market. We consider the cross-correlation functions averaged over stocks, using historical stock prices from the Standard & Poor's 500 index for 1994-2013. The observed historical dynamics suggests that the dependence between the risks was almost linear during the US stock market downturn of 2002 and after the US housing bubble in 2007, remaining at that level until 2013. Moreover, the averaged cross-correlation function often had an asymmetric shape with respect to zero lag in the periods of high correlation. We develop the analysis by the application of the linear response formalism to study underlying causal relations. The calculated response functions suggest the presence of characteristic regimes near financial crashes, when individual stock risks affect market risk and vice versa. This work was supported by VR 621-2012-2983.

Stock or stroke? Stock market movement and stroke incidence in Taiwan.

PubMed

Chen, Chun-Chih; Chen, Chin-Shyan; Liu, Tsai-Ching; Lin, Ying-Tzu

2012-12-01

This paper investigates the impact of stock market movement on incidences of stroke utilizing population-based aggregate data in Taiwan. Using the daily data from the Taiwan Stock Exchange Capitalization Weighted Stock Index and from the National Health Insurance Research Database during 2001/1/1-2007/12/31, which consist of 2556 observations, we examine the effects of stock market on stroke incidence - the level effect and the daily change effects. In general, we find that both a low stock index level and a daily fall in the stock index are associated with greater incidences of stroke. We further partition the data on sex and age. The level effect is found to be significant for either gender, in the 45-64 and 65 ≥ age groups. In addition, two daily change effects are found to be significant for males and the elderly. Although stockholdings can increase wealth, they can also increase stroke incidence, thereby representing a cost to health. Copyright © 2012 Elsevier Ltd. All rights reserved.

Confidence and self-attribution bias in an artificial stock market

PubMed Central

Bertella, Mario A.; Pires, Felipe R.; Rego, Henio H. A.; Vodenska, Irena; Stanley, H. Eugene

2017-01-01

Using an agent-based model we examine the dynamics of stock price fluctuations and their rates of return in an artificial financial market composed of fundamentalist and chartist agents with and without confidence. We find that chartist agents who are confident generate higher price and rate of return volatilities than those who are not. We also find that kurtosis and skewness are lower in our simulation study of agents who are not confident. We show that the stock price and confidence index—both generated by our model—are cointegrated and that stock price affects confidence index but confidence index does not affect stock price. We next compare the results of our model with the S&P 500 index and its respective stock market confidence index using cointegration and Granger tests. As in our model, we find that stock prices drive their respective confidence indices, but that the opposite relationship, i.e., the assumption that confidence indices drive stock prices, is not significant. PMID:28231255

Resistance of different stocks and transferrin genotypes of coho salmon, Oncorhynchus kisutch, and steelhead trout, Salmo gairdneri, to bacterial kidney disease and vibriosis

USGS Publications Warehouse

Winter , Gary W.; Schreck, Carl B.; McIntyre, John D.

1979-01-01

Juvenile coho salmon and steelhead trout ofdifferentstocks and three transferrin genotypes(AA, AC, and CCl, all reared in identical or similar environments, were experimentally infected with Corynebacterium sp., the causative agent ofbacterial kidney disease, or with Vibrio anguillarum, the causative agent of vibriosis. Mortality due to the pathogens was compared among stocks within a species and among transferrin genotypes within a stock to determine whetherthere was a geneticbasis for resistance to disease. Differences in resistance to bacterial kidney disease among coho salmon stocks had a genetic basis. Stock susceptibility to vibriosis was strongly influenced by environmental factors. Coho salmon orsteelhead trout of one stock may be resistant to one disease but susceptible to another. The importance of transferrin genotype of coho salmon in resistance to bacterial kidney disease was stock specific; in stocks that showed differential resistance of genotypes, the AA was the most susceptible. No differencesin resistance to vibriosis were observed among transferrin genotypes.

Variation in angler distribution and catch rates of stocked rainbow trout in a small reservoir

USGS Publications Warehouse

Harmon, Brian S.; Martin, Dustin R.; Chizinski, Christopher J.; Pope, Kevin L.

2018-01-01

We investigated the spatial and temporal relationship of catch rates and angler party location for two days following a publicly announced put-and-take stocking of rainbow trout (Oncorhynchus mykiss). Catch rates declined with time since stocking and distance from stocking. We hypothesized that opportunity for high catch rates would cause anglers to fish near the stocking location and disperse with time, however distance between angler parties and stocking was highly variable at any given time. Spatially explicit differences in catch rates can affect fishing quality. Further research could investigate the variation between angler distribution and fish distribution within a waterbody.

Power-law tails in the distribution of order imbalance

NASA Astrophysics Data System (ADS)

Zhang, Ting; Gu, Gao-Feng; Xu, Hai-Chuan; Xiong, Xiong; Chen, Wei; Zhou, Wei-Xing

2017-10-01

We investigate the probability distribution of order imbalance calculated from the order flow data of 43 Chinese stocks traded on the Shenzhen Stock Exchange. Two definitions of order imbalance are considered based on the order number and the order size. We find that the order imbalance distributions of individual stocks have power-law tails. However, the tail index fluctuates remarkably from stock to stock. We also investigate the distributions of aggregated order imbalance of all stocks at different timescales Δt. We find no clear trend in the tail index with respect Δt. All the analyses suggest that the distributions of order imbalance are asymmetric.

Recycling strategy of the end-of-life rolling stock in China

NASA Astrophysics Data System (ADS)

Guo, L.; Wang, X. W.; Lin, Y.; Shen, X. F.; Liu, Y. Q.

2018-03-01

China's high-speed railway industry is growing fast, the side effect is that plenty of rolling stock come to the end of life each year. However, there are not relevant standards nor regulations for the recycling of rolling stock in China, which causes pollution and a waste of resources. In this paper, the basic meaning and characteristics of the circular economy is reviewed and applied to the rolling stock industry. The recycling steps are elaborated in detail according to the characteristics of rolling stock. The result proves that circular economy has both the theoretical and practical meaning in the rolling stock recycling industry in China.

Does the Shanghai-Hong Kong Stock Connect significantly affect the A-H premium of the stocks?

NASA Astrophysics Data System (ADS)

Hui, Eddie C. M.; Chan, Ka Kwan Kevin

2018-02-01

Since the Shanghai-Hong Kong Stock Connect ("the Connect") was launched in late 2014, more and more Mainland investors have invested in Hong Kong listed shares, and vice versa, increasing the transaction volume of the stock market on both sides. However, only a few studies investigated how the Shanghai-Hong Kong Stock Connect affected the pricing dynamics of stocks listed in both Shanghai and Hong Kong. Applying linear regression, this study investigates how the Connect affects the H-share discounts of 12 stocks cross-listed in Shanghai and Hong Kong. A new feature of our model is that we add a dummy variable so as to be the first study to examine the effect of the China financial crisis on the A-H premium of the stocks. We find that the A-H premium of all stocks widens significantly after the Connect is launched, implying immatureness or even inefficiency of China's financial market. Furthermore, the result shows that trading activities in the mainland market affects the A-H premium more significantly than trading activities in the Hong Kong market do. This implies that China's financial market plays a dominant role in the Connect.

Multiscale Symbolic Phase Transfer Entropy in Financial Time Series Classification

NASA Astrophysics Data System (ADS)

Zhang, Ningning; Lin, Aijing; Shang, Pengjian

We address the challenge of classifying financial time series via a newly proposed multiscale symbolic phase transfer entropy (MSPTE). Using MSPTE method, we succeed to quantify the strength and direction of information flow between financial systems and classify financial time series, which are the stock indices from Europe, America and China during the period from 2006 to 2016 and the stocks of banking, aviation industry and pharmacy during the period from 2007 to 2016, simultaneously. The MSPTE analysis shows that the value of symbolic phase transfer entropy (SPTE) among stocks decreases with the increasing scale factor. It is demonstrated that MSPTE method can well divide stocks into groups by areas and industries. In addition, it can be concluded that the MSPTE analysis quantify the similarity among the stock markets. The symbolic phase transfer entropy (SPTE) between the two stocks from the same area is far less than the SPTE between stocks from different areas. The results also indicate that four stocks from America and Europe have relatively high degree of similarity and the stocks of banking and pharmaceutical industry have higher similarity for CA. It is worth mentioning that the pharmaceutical industry has weaker particular market mechanism than banking and aviation industry.

The mutual causality analysis between the stock and futures markets

NASA Astrophysics Data System (ADS)

Yao, Can-Zhong; Lin, Qing-Wen

2017-07-01

In this paper we employ the conditional Granger causality model to estimate the information flow, and find that the improved model outperforms the Granger causality model in revealing the asymmetric correlation between stocks and futures in the Chinese market. First, we find that information flows estimated by Granger causality tests from futures to stocks are greater than those from stocks to futures. Additionally, average correlation coefficients capture some important characteristics between stock prices and information flows over time. Further, we find that direct information flows estimated by conditional Granger causality tests from stocks to futures are greater than those from futures to stocks. Besides, the substantial increases of information flows and direct information flows exhibit a certain degree of synchronism with the occurrences of important events. Finally, the comparative analysis with the asymmetric ratio and the bootstrap technique demonstrates the slight asymmetry of information flows and the significant asymmetry of direct information flows. It reveals that the information flows from futures to stocks are slightly greater than those in the reverse direction, while the direct information flows from stocks to futures are significantly greater than those in the reverse direction.

Rapid diagnostic test supply chain and consumption study in Cabo Delgado, Mozambique: estimating stock shortages and identifying drivers of stock-outs.

PubMed

Hasselback, Leah; Crawford, Jessica; Chaluco, Timoteo; Rajagopal, Sharanya; Prosser, Wendy; Watson, Noel

2014-08-02

Malaria rapid diagnostic tests (RDTs) are particularly useful in low-resource settings where follow-through on traditional laboratory diagnosis is challenging or lacking. The availability of these tests depends on supply chain processes within the distribution system. In Mozambique, stock-outs of malaria RDTs are fairly common at health facilities. A longitudinal cross-sectional study was conducted to evaluate drivers of stock shortages in the Cabo Delgado province. Data were collected from purposively sampled health facilities, using monthly cross-sectional surveys between October 2011 and May 2012. Estimates of lost consumption (consumption not met due to stock-outs) served as the primary quantitative indicator of stock shortages. This is a better measure of the magnitude of stock-outs than binary indicators that only measure frequency of stock-outs at a given facility. Using a case study based methodology, distribution system characteristics were qualitatively analysed to examine causes of stock-outs at the provincial, district and health centre levels. 15 health facilities were surveyed over 120 time points. Stock-out patterns varied by data source; average monthly proportions of 59%, 17% and 17% of health centres reported a stock-out on stock cards, laboratory and pharmacy forms, respectively. Estimates of lost consumption percentage were significantly high; ranging from 0% to 149%; with a weighted average of 78%. Each ten-unit increase in monthly-observed consumption was associated with a nine-unit increase in lost consumption percentage indicating that higher rates of stock-outs occurred at higher levels of observed consumption. Causes of stock-outs included inaccurate tracking of lost consumption, insufficient sophistication in inventory management and replenishment, and poor process compliance by facility workers, all arguably stemming from inadequate attention to the design and implementation of the distribution system. Substantially high levels of RDT stock-outs were found in Cabo Delgado. Study findings point to a supply chain with a commendable degree of sophistication. However, insufficient attention paid to system design and implementation resulted in deteriorating performance in areas of increased need. In such settings fast moving commodities like malaria RDTs can call attention to supply chain vulnerabilities, the findings from which can be used to address other slower moving health commodities.

Estimating Soil Organic Carbon stocks and uncertainties at the regional scale following a legacy sampling strategy - a case study from southern Belgium

NASA Astrophysics Data System (ADS)

Chartin, Caroline; Krüger, Inken; Goidts, Esther; Carnol, Monique; van Wesemael, Bas

2017-04-01

The quantification and the spatialisation of reliable SOC stocks (Mg C ha-1) and total stock (Tg C) baselines and associated uncertainties are fundamental to detect the gains or losses in SOC, and to locate sensitive areas with low SOC levels. Here, we aim to both quantify and spatialize SOC stocks at regional scale (southern Belgium) based on data from one non-design-based nor model-based sampling scheme. To this end, we developed a computation procedure based on Digital Soil Mapping techniques and stochastic simulations (Monte-Carlo) allowing the estimation of multiple (here, 10,000) independent spatialized datasets. The computation of the prediction uncertainty accounts for the errors associated to the both estimations of i) SOC stock at the pixel-related area scale and ii) parameters of the spatial model. Based on these 10,000 individuals, median SOC stocks and 90% prediction intervals were computed for each pixel, as well as total SOC stocks and their 90% prediction intervals for selected sub-areas and for the entire study area. Hence, a Generalised Additive Model (GAM) explaining 69.3 % of the SOC stock variance was calibrated and then validated (R2 = 0.64). The model overestimated low SOC stock (below 50 Mg C ha-1) and underestimated high SOC stock (especially those above 100 Mg C kg-1). A positive gradient of SOC stock occurred from the northwest to the center of Wallonia with a slight decrease on the southernmost part, correlating to the evolution of precipitation and temperature (along with elevation) and dominant land use. At the catchment scale higher SOC stocks were predicted on valley bottoms, especially for poorly drained soils under grassland. Mean predicted SOC stocks for cropland and grassland in Wallonia were of 26.58 Tg C (SD 1.52) and 43.30 Tg C (2.93), respectively. The procedure developed here allowed to predict realistic spatial patterns of SOC stocks all over agricultural lands of southern Belgium and to produce reliable statistics of total SOC stocks for each of the 20 combinations of land use / agricultural regions of Wallonia. This procedure appears useful to produce soil maps as policy tools in conducting sustainable management at regional and national scales, and to compute statistics which comply with specific requirements of reporting activities.

Rapid diagnostic test supply chain and consumption study in Cabo Delgado, Mozambique: estimating stock shortages and identifying drivers of stock-outs

PubMed Central

2014-01-01

Background Malaria rapid diagnostic tests (RDTs) are particularly useful in low-resource settings where follow-through on traditional laboratory diagnosis is challenging or lacking. The availability of these tests depends on supply chain processes within the distribution system. In Mozambique, stock-outs of malaria RDTs are fairly common at health facilities. A longitudinal cross-sectional study was conducted to evaluate drivers of stock shortages in the Cabo Delgado province. Methods Data were collected from purposively sampled health facilities, using monthly cross-sectional surveys between October 2011 and May 2012. Estimates of lost consumption (consumption not met due to stock-outs) served as the primary quantitative indicator of stock shortages. This is a better measure of the magnitude of stock-outs than binary indicators that only measure frequency of stock-outs at a given facility. Using a case study based methodology, distribution system characteristics were qualitatively analysed to examine causes of stock-outs at the provincial, district and health centre levels. Results 15 health facilities were surveyed over 120 time points. Stock-out patterns varied by data source; average monthly proportions of 59%, 17% and 17% of health centres reported a stock-out on stock cards, laboratory and pharmacy forms, respectively. Estimates of lost consumption percentage were significantly high; ranging from 0% to 149%; with a weighted average of 78%. Each ten-unit increase in monthly-observed consumption was associated with a nine-unit increase in lost consumption percentage indicating that higher rates of stock-outs occurred at higher levels of observed consumption. Causes of stock-outs included inaccurate tracking of lost consumption, insufficient sophistication in inventory management and replenishment, and poor process compliance by facility workers, all arguably stemming from inadequate attention to the design and implementation of the distribution system. Conclusions Substantially high levels of RDT stock-outs were found in Cabo Delgado. Study findings point to a supply chain with a commendable degree of sophistication. However, insufficient attention paid to system design and implementation resulted in deteriorating performance in areas of increased need. In such settings fast moving commodities like malaria RDTs can call attention to supply chain vulnerabilities, the findings from which can be used to address other slower moving health commodities. PMID:25086645

75 FR 56641 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Granting...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-09-16

... Stock Exchange, Inc. (``CHX''), EDGA Exchange, Inc. (``EDGA''), EDGX Exchange, Inc. (``EDGX''), International Securities Exchange LLC (``ISE''), The NASDAQ Stock Market LLC (``Nasdaq''), National Stock Exchange, Inc. (``NSX''), New York Stock Exchange LLC (``NYSE''), NYSE Amex LLC (``NYSE Amex''), NYSE Arca...

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.

Market impact and structure dynamics of the Chinese stock market based on partial correlation analysis

NASA Astrophysics Data System (ADS)

Li, Xing; Qiu, Tian; Chen, Guang; Zhong, Li-Xin; Wu, Xiao-Run

2017-04-01

Partial correlation analysis is employed to study the market impact on the Chinese stock market from both the native and external markets. Whereas the native market index is observed to have a great impact on the market correlations for both the Shanghai and Shenzhen stock markets, some external stock indices of the United States, European and Asian stock markets show a slight influence on the Chinese market. The individual stock can be affected by different economic sectors, but the dominant influence is from the sector the stock itself belongs to or closely related to, and the finance and insurance sector shows a weaker correlation with other economic sectors. Moreover, the market structure similarity exhibits a negative correlation with the price return in most time, and the structure similarity decays with the time interval.

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.

Multifractal in Volatility of Family Business Stocks Listed on Casablanca STOCK Exchange

NASA Astrophysics Data System (ADS)

Lahmiri, Salim

In this paper, we check for existence of multifractal in volatility of Moroccan family business stock returns and in volatility of Casablanca market index returns based on multifractal detrended fluctuation analysis (MF-DFA) technique. Empirical results show strong evidence of multifractal characteristics in volatility series of both family business stocks and market index. In addition, it is found that small variations in volatility of family business stocks are persistent, whilst small variations in volatility of market index are anti-persistent. However, large variations in family business volatility and market index volatility are both anti-persistent. Furthermore, multifractal spectral analysis based results show strong evidence that volatility in Moroccan family business companies exhibits more multifractality than volatility in the main stock market. These results may provide insightful information for risk managers concerned with family business stocks.

Potential environmental effects of pack stock on meadow ecosystems of the Sierra Nevada, USA

USGS Publications Warehouse

Ostoja, Steven M.; Brooks, Matthew L.; Moore, Peggy E.; Berlow, Eric L.; Robert Blank,; Roche, Jim; Chase, Jennifer T.; Sylvia Haultain,

2014-01-01

Pack and saddle stock, including, but not limited to domesticated horses, mules, and burros, are used to support commercial, private and administrative activities in the Sierra Nevada. The use of pack stock has become a contentious and litigious issue for land management agencies in the region inter alia due to concerns over effects on the environment. The potential environmental effects of pack stock on Sierra Nevada meadow ecosystems are reviewed and it is concluded that the use of pack stock has the potential to influence the following: (1) water nutrient dynamics, sedimentation, temperature, and microbial pathogen content; (2) soil chemistry, nutrient cycling, soil compaction and hydrology; (3) plant individuals, populations and community dynamics, non-native invasive species, and encroachment of woody species; and (4) wildlife individuals, populations and communities. It is considered from currently available information that management objectives of pack stock should include the following: minimise bare ground, maximise plant cover, maintain species composition of native plants, minimise trampling, especially on wet soils and stream banks, and minimise direct urination and defecation by pack stock into water. However, incomplete documentation of patterns of pack stock use and limited past research limits current understanding of the effects of pack stock, especially their effects on water, soils and wildlife. To improve management of pack stock in this region, research is needed on linking measurable monitoring variables (e.g. plant cover) with environmental relevancy (e.g. soil erosion processes, wildlife habitat use), and identifying specific environmental thresholds of degradation along gradients of pack stock use in Sierra Nevada meadows.

Organic Chemical Attribution Signatures for the Sourcing of a Mustard Agent and Its Starting Materials

DOE Office of Scientific and Technical Information (OSTI.GOV)

Fraga, Carlos G.; Bronk, Krys; Dockendorff, Brian P.

Chemical attribution signatures (CAS) are being investigated for the sourcing of chemical warfare (CW) agents and their starting materials that may be implicated in chemical attacks or CW proliferation. The work reported here demonstrates for the first time trace impurities produced during the synthesis of tris(2-chloroethyl)amine (HN3) that point to specific reagent stocks used in the synthesis of this CW agent. Thirty batches of HN3 were synthesized using different combinations of commercial stocks of triethanolamine (TEA), thionyl chloride, chloroform, and acetone. The HN3 batches and reagent stocks were then analyzed for impurities by gas chromatography/mass spectrometry. Reaction-produced impurities indicative ofmore » specific TEA and chloroform stocks were exclusively discovered in HN3 batches made with those reagent stocks. In addition, some reagent impurities were found in the HN3 batches that were presumably not altered during synthesis and believed to be indicative of reagent type regardless of stock. Supervised classification using partial least squares discriminant analysis (PLSDA) on the impurity profiles of chloroform samples from seven stocks resulted in an average classification error by cross-validation of 2.4%. A classification error of zero was obtained using the seven-stock PLSDA model on a validation set of samples from an arbitrarily selected chloroform stock. In a separate analysis, all samples from two of seven chloroform stocks that were purposely not modeled had their samples matched to a chloroform stock rather than assigned a “no class” classification.« less

The effect of stocking with 0+ year age-class Atlantic salmon Salmo salar fry: a case study from the River Bush, Northern Ireland.

PubMed

Kennedy, R J; Crozier, W W; Allen, M

2012-10-01

An enhancement programme based on stocking 0+ year age-class Atlantic salmon Salmo salar, conducted in the River Bush, Northern Ireland, U.K. over the period 1996-2005, was reviewed with reference to the performance and biological characteristics of wild fish. Wild ova to 0+ year fry (summer) survival was c. 8% with subsequent wild 0+ year fry-to-smolt survival c. 9%. Stocked unfed 0+ year juveniles gave c. 1% survival to smolt whilst fed 0+ year S. salar stocked in late summer exhibited survival at c. 5%. Stocking with unfed and fed fry contributed to increased smolt production and helped attain local management objectives between 2001 and 2005. Significant differences in biological characteristics were observed between wild and stocked-origin fish. Wild-smolt cohorts were dominated by 2+ year age-class fish on the River Bush whilst smolts originating from fed fry mostly comprised younger 1+ year individuals. The mean mass of 1+ year smolts derived from stocked fed fry was significantly lower than that of wild 1+ year smolts, although these differences were not evident between older age classes. Differences in run timing between wild smolts and smolts derived from stocked fry were also apparent with the stocked-origin fish tending to run earlier than wild fish. Although the stocking exercise was useful in terms of maximizing freshwater production, concerns over the quality of stocked-origin recruits and the long term consequences for productivity are highlighted. © 2012 The Authors. Journal of Fish Biology © 2012 The Fisheries Society of the British Isles.

12 CFR 7.2017 - Facsimile signatures on bank stock certificates.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Facsimile signatures on bank stock certificates... ACTIVITIES AND OPERATIONS Corporate Practices § 7.2017 Facsimile signatures on bank stock certificates. The... stock certificate. The signatures may be manual or facsimile, including electronic means of signature...

21 CFR 880.5780 - Medical support stocking.

Code of Federal Regulations, 2010 CFR

2010-04-01

... Devices § 880.5780 Medical support stocking. (a) Medical support stocking to prevent the pooling of blood 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...

21 CFR 880.5780 - Medical support stocking.

Code of Federal Regulations, 2012 CFR

2012-04-01

... Devices § 880.5780 Medical support stocking. (a) Medical support stocking to prevent the pooling of blood 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...

21 CFR 880.5780 - Medical support stocking.

Code of Federal Regulations, 2011 CFR

2011-04-01

... Devices § 880.5780 Medical support stocking. (a) Medical support stocking to prevent the pooling of blood 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...

21 CFR 880.5780 - Medical support stocking.

Code of Federal Regulations, 2014 CFR

2014-04-01

... Devices § 880.5780 Medical support stocking. (a) Medical support stocking to prevent the pooling of blood 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...

21 CFR 880.5780 - Medical support stocking.

Code of Federal Regulations, 2013 CFR

2013-04-01

... Devices § 880.5780 Medical support stocking. (a) Medical support stocking to prevent the pooling of blood 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...

78 FR 3399 - Draft 2012 Marine Mammal Stock Assessment Reports

Federal Register 2010, 2011, 2012, 2013, 2014

2013-01-16

... mammal stock assessment reports (SARs) in accordance with the Marine Mammal Protection Act, and solicited public comment on draft 2012 SARs. Subsequently, SARs for ten stocks of marine mammals in the Atlantic... solicits public comments on revised draft 2012 SARs for these ten stocks. DATES: Comments must be received...

75 FR 21051 - Program for Allocation of Regulatory Responsibilities Pursuant to Rule 17d-2; Notice of Filing...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-04-22

... American Stock Exchange LLC, BATS Exchange, Inc., Chicago Board Options Exchange, Incorporated, Chicago Stock Exchange, Inc., EDGA Exchange, Inc., EDGX Exchange, Inc., Financial Industry Regulatory Authority, Inc., International Securities Exchange, LLC, The NASDAQ Stock Market LLC, National Stock Exchange...

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 Section 552.3 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY FEDERAL STOCK ASSOCIATIONS-INCORPORATION, ORGANIZATION, AND CONVERSION § 552.3 Charters for Federal stock associations. The...

25 CFR 700.717 - Stocking rate.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 25 Indians 2 2012-04-01 2012-04-01 false Stocking rate. 700.717 Section 700.717 Indians THE OFFICE... Grazing § 700.717 Stocking rate. The Commissioner will determine livestock carrying capacity for each range unit and set the stocking rate and adjust that rate as conditions warrant. The Commissioner may...

25 CFR 700.717 - Stocking rate.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 25 Indians 2 2013-04-01 2013-04-01 false Stocking rate. 700.717 Section 700.717 Indians THE OFFICE... Grazing § 700.717 Stocking rate. The Commissioner will determine livestock carrying capacity for each range unit and set the stocking rate and adjust that rate as conditions warrant. The Commissioner may...

25 CFR 700.717 - Stocking rate.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 25 Indians 2 2011-04-01 2011-04-01 false Stocking rate. 700.717 Section 700.717 Indians THE OFFICE... Grazing § 700.717 Stocking rate. The Commissioner will determine livestock carrying capacity for each range unit and set the stocking rate and adjust that rate as conditions warrant. The Commissioner may...

25 CFR 700.717 - Stocking rate.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 25 Indians 2 2010-04-01 2010-04-01 false Stocking rate. 700.717 Section 700.717 Indians THE OFFICE... Grazing § 700.717 Stocking rate. The Commissioner will determine livestock carrying capacity for each range unit and set the stocking rate and adjust that rate as conditions warrant. The Commissioner may...

75 FR 1596 - Grant of Authority for Subzone Status, Reynolds Packaging LLC (Aluminum Foil Liner Stock...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-01-12

... Status, Reynolds Packaging LLC (Aluminum Foil Liner Stock), Louisville, Kentucky Pursuant to its...-purpose subzone at the aluminum foil liner stock manufacturing and distribution facilities of Reynolds... manufacturing and distribution of aluminum foil liner stock and aluminum foil at the facilities of Reynolds...

75 FR 25012 - Self-Regulatory Organizations; Boston Stock Exchange Clearing Corporation; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-05-06

...-025, The NASDAQ Stock Market LLC (``NASDAQ Exchange'') sought and received Commission approval to...-Regulatory Organizations; Boston Stock Exchange Clearing Corporation; Notice of Filing and Immediate... hereby given that on April 9, 2010, the Boston Stock Exchange Clearing Corporation (``BSECC'') filed with...

26 CFR 1.552-3 - Stock ownership requirement.

Code of Federal Regulations, 2014 CFR

2014-04-01

... more than 50 percent in value of the outstanding stock of the foreign corporation be owned, directly or... 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...

26 CFR 1.552-3 - Stock ownership requirement.

Code of Federal Regulations, 2012 CFR

2012-04-01

... more than 50 percent in value of the outstanding stock of the foreign corporation be owned, directly or... 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...

26 CFR 1.552-3 - Stock ownership requirement.

Code of Federal Regulations, 2013 CFR

2013-04-01

... more than 50 percent in value of the outstanding stock of the foreign corporation be owned, directly or... 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...

26 CFR 1.331-1 - Corporate liquidations.

Code of Federal Regulations, 2010 CFR

2010-04-01

...) Reporting requirement—(1) General rule. Every significant holder that transfers stock to the issuing...) The fair market value and basis of the stock transferred by the significant holder to the issuing... stock of the issuing corporation if the stock owned by such person is publicly traded; or (B) Owned at...

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)

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 Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided...

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 water...

Relationships between forest fine and coarse woody debris carbon stocks across latitudinal gradients in the United States as an indicator of climate change effects

Treesearch

C.W. Woodall; G.C. Liknes

2008-01-01

Coarse and fine woody materials (CWD and FWD) are substantial forest ecosystem carbon (C) stocks. There is a lack of understanding how these detritus C stocks may respond to climate change. This study used a nation-wide inventory of CWD and FWD in the United States to examine how these C stocks vary by latitude. Results indicate that the highest CWD and FWD C stocks...

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

USGS Publications Warehouse

Todd, Thomas N.; Haas, Robert C.; Schramm, Harold L.; Piper, Robert G.

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.

Traders' behavioral coupling and market phase transition

NASA Astrophysics Data System (ADS)

Ma, Rong; Zhang, Yin; Li, Honggang

2017-11-01

Traditional economic theory is based on the assumption that traders are completely independent and rational; however, trading behavior in the real market is often coupled by various factors. This paper discusses behavioral coupling based on the stock index in the stock market, focusing on the convergence of traders' behavior, its effect on the correlation of stock returns and market volatility. We find that the behavioral consensus in the stock market, the correlation degree of stock returns, and the market volatility all exhibit significant phase transitions with stronger coupling.

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.

Is there any overtrading in stock markets? The moderating role of big five personality traits and gender in a unilateral trend stock market.

PubMed

Zhang, Jian; Wang, Haocheng; Wang, Limin; Liu, Shuyi

2014-01-01

Overtrading is a common anomaly among stock investors. This study examines the relationship between overtrading and investment returns and the impact of the Big Five traits and gender on overtrading in a unilateral trend stock market using a simulated stock investment system. The data were derived from a sample of undergraduates from six universities who performed in a simulated stock investment situation and had their personality traits measured by the Big Five Personality Questionnaire. The results indicate that: (1) Overtrading was significant in rising stock markets, but not significant in falling markets. (2) The degree of female investors who overtraded was significant in rising markets. (3) The degree of overtrading investors who were high in extroversion or agreeableness was significant in rising markets. The implications of these results for more effective investment strategies are discussed.

The time-varying correlation between policy uncertainty and stock returns: Evidence from China

NASA Astrophysics Data System (ADS)

Xiong, Xiong; Bian, Yuxiang; Shen, Dehua

2018-06-01

In this paper, we use a new policy uncertainty index to investigate the time-varying correlation between economic policy uncertainty (EPU) and Chinese stock market returns. The correlation is examined in the period from January 1995 to December 2016. We show that absolute changes in EPU have a significant impact on stock market returns. Specifically, empirical results based on the DCC-GARCH model reveal that the correlation between EPU and stock returns has large fluctuations, especially during a financial crisis; in addition, the impact of EPU on the Shanghai stock market is greater than on the Shenzhen stock market. Robustness results reveal that the impact of EPU on state-owned enterprises is larger than on non-state enterprises. All of these results highlight the important role of EPU in the Chinese stock market, and shed light on such issues for future research.

Is There Any Overtrading in Stock Markets? The Moderating Role of Big Five Personality Traits and Gender in a Unilateral Trend Stock Market

PubMed Central

Zhang, Jian; Wang, Haocheng; Wang, Limin; Liu, Shuyi

2014-01-01

Overtrading is a common anomaly among stock investors. This study examines the relationship between overtrading and investment returns and the impact of the Big Five traits and gender on overtrading in a unilateral trend stock market using a simulated stock investment system. The data were derived from a sample of undergraduates from six universities who performed in a simulated stock investment situation and had their personality traits measured by the Big Five Personality Questionnaire. The results indicate that: (1) Overtrading was significant in rising stock markets, but not significant in falling markets. (2) The degree of female investors who overtraded was significant in rising markets. (3) The degree of overtrading investors who were high in extroversion or agreeableness was significant in rising markets. The implications of these results for more effective investment strategies are discussed. PMID:24475235

Power Laws and Market Crashes ---Empirical Laws on Bursting Bubbles---

NASA Astrophysics Data System (ADS)

Kaizoji, T.

In this paper, we quantitatively investigate the statistical properties of a statistical ensemble of stock prices. We selected 1200 stocks traded on the Tokyo Stock Exchange, and formed a statistical ensemble of daily stock prices for each trading day in the 3-year period from January 4, 1999 to December 28, 2001, corresponding to the period of the forming of the internet bubble in Japn, and its bursting in the Japanese stock market. We found that the tail of the complementary cumulative distribution function of the ensemble of stock prices in the high value of the price is well described by a power-law distribution, P (S > x) ˜ x^{-α}, with an exponent that moves in the range of 1.09 < α < 1.27. Furthermore, we found that as the power-law exponents α approached unity, the bubbles collapsed. This suggests that Zipf's law for stock prices is a sign that bubbles are going to burst.

Hybrid machine learning technique for forecasting Dhaka stock market timing decisions.

PubMed

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

2014-01-01

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

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.

Hybrid Machine Learning Technique for Forecasting Dhaka Stock Market Timing Decisions

PubMed Central

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

2014-01-01

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

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.

Initial value sensitivity of the Chinese stock market and its relationship with the investment psychology

NASA Astrophysics Data System (ADS)

Ying, Shangjun; Li, Xiaojun; Zhong, Xiuqin

2015-04-01

This paper discusses the initial value sensitivity (IVS) of Chinese stock market, including the single stock market and the Chinese A-share stock market, with respect to real markets and evolving models. The aim is to explore the relationship between IVS of the Chinese A-share stock market and the investment psychology based on the evolving model of genetic cellular automaton (GCA). We find: (1) The Chinese stock market is sensitively dependent on the initial conditions. (2) The GCA model provides a considerable reliability in complexity simulation (e.g. the IVS). (3) The IVS of stock market is positively correlated with the imitation probability when the intensity of the imitation psychology reaches a certain threshold. The paper suggests that the government should seek to keep the imitation psychology under a certain level, otherwise it may induce severe fluctuation to the market.

Species-specific preferences of German recreational anglers for freshwater fishing experiences, with emphasis on the intrinsic utilities of fish stocking and wild fishes.

PubMed

Arlinghaus, R; Beardmore, B; Riepe, C; Meyerhoff, J; Pagel, T

2014-12-01

To answer the question, whether anglers have an intrinsic preference for stocking or a preference for catch outcomes (e.g. catch rates) believed to be maintained by stocking, a discrete choice experiment was conducted among a sample of anglers (n = 1335) in Lower Saxony, Germany. After controlling for catch aspects of the fishing experience, no significant influence of two stocking attributes (stocking frequency and composition of the catch in terms of wild v. hatchery fishes) on the utility gained from fishing was found for any of the freshwater species that were studied. It was concluded that the previously documented large appreciation of fish stocking by anglers may be indicative of an underlying preference for sufficiently high catches rather than reflect an intrinsic preference for stocking or the catching of wild fishes per se. © 2014 The Fisheries Society of the British Isles.

Multifractal analysis of Moroccan family business stock returns

NASA Astrophysics Data System (ADS)

Lahmiri, Salim

2017-11-01

In this paper, long-range temporal correlations at different scales in Moroccan family business stock returns are investigated. For comparison purpose, presence of multifractality is also investigated in Casablanca Stock Exchange (CSE) major indices: MASI which is the all shares index and MADEX which is the index of most liquid shares. It is found that return series of both family business companies and major stock market indices show strong evidence of multifractality. In particular, empirical results reveal that short (long) fluctuations in family business stock returns are less (more) persistent (anti-persistent) than short fluctuations in market indices. In addition, both serial correlation and distribution characteristics significantly influence the strength of the multifractal spectrums of CSE and family business stocks returns. Furthermore, results from multifractal spectrum analysis suggest that family business stocks are less risky. Thus, such differences in price dynamics could be exploited by investors and forecasters in active portfolio management.

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... Disclosure requirements for borrower stock. (a) For sales of borrower stock, which for this subpart means... an at-risk investment and not a compensating balance; (ii) That the equity is retireable only at the...

12 CFR 563f.4 - Interlocking relationships permitted by statute.

Code of Federal Regulations, 2010 CFR

2010-01-01

... in any part of the United States; (ii) The service would lead to substantial conflicts of interest or... Owners' Loan Act) which has issued stock in connection with a qualified stock issuance pursuant to... company which purchased the stock issued in connection with such qualified stock issuance, and shall apply...

Stocking chart for upland central hardwoods

Treesearch

Martin E. Dale; Donald E. Hilt

1989-01-01

The upland hardwoods stocking chart, introduced by Gingrich in 1967, has become one of the forest manager's most useful tools. The chart allows you to determine the condition of the present stand in relation to a stocking standard. The stocking of a stand is extremely helpful in prescribing various silvicultural treatments such as intermediate thinnings,...

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... assisted stock? Current assisted stock consists of housing units owned or operated pursuant to an ACC. This includes all low rent, Mutual Help, and Turnkey III housing units under management as of September 30, 1997...

13 CFR 107.250 - Exclusion of stock options issued by Licensee from Management Expenses.

Code of Federal Regulations, 2010 CFR

2010-01-01

... Sbic § 107.250 Exclusion of stock options issued by Licensee from Management Expenses. Stock options... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Exclusion of stock options issued by Licensee from Management Expenses. 107.250 Section 107.250 Business Credit and Assistance SMALL...

77 FR 46137 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-08-02

...-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the New York Stock Exchange LLC Price List To Establish Pricing for the... York Stock Exchange LLC (``NYSE'' or ``Exchange'') filed with the Securities and Exchange Commission...

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) A...

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 capital...

41 CFR 109-27.5005 - Shop, bench, cupboard or site stock.

Code of Federal Regulations, 2014 CFR

2014-01-01

... 41 Public Contracts and Property Management 3 2014-01-01 2014-01-01 false Shop, bench, cupboard or site stock. 109-27.5005 Section 109-27.5005 Public Contracts and Property Management Federal Property....5005 Shop, bench, cupboard or site stock. Shop, bench, cupboard or site stocks are an accumulation of...

41 CFR 109-27.5005 - Shop, bench, cupboard or site stock.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Shop, bench, cupboard or site stock. 109-27.5005 Section 109-27.5005 Public Contracts and Property Management Federal Property....5005 Shop, bench, cupboard or site stock. Shop, bench, cupboard or site stocks are an accumulation of...

41 CFR 109-27.5005 - Shop, bench, cupboard or site stock.

Code of Federal Regulations, 2011 CFR

2011-01-01

... 41 Public Contracts and Property Management 3 2011-01-01 2011-01-01 false Shop, bench, cupboard or site stock. 109-27.5005 Section 109-27.5005 Public Contracts and Property Management Federal Property....5005 Shop, bench, cupboard or site stock. Shop, bench, cupboard or site stocks are an accumulation of...

41 CFR 109-27.5005 - Shop, bench, cupboard or site stock.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 41 Public Contracts and Property Management 3 2013-07-01 2013-07-01 false Shop, bench, cupboard or site stock. 109-27.5005 Section 109-27.5005 Public Contracts and Property Management Federal Property....5005 Shop, bench, cupboard or site stock. Shop, bench, cupboard or site stocks are an accumulation of...

41 CFR 109-27.5005 - Shop, bench, cupboard or site stock.

Code of Federal Regulations, 2012 CFR

2012-01-01

... 41 Public Contracts and Property Management 3 2012-01-01 2012-01-01 false Shop, bench, cupboard or site stock. 109-27.5005 Section 109-27.5005 Public Contracts and Property Management Federal Property....5005 Shop, bench, cupboard or site stock. Shop, bench, cupboard or site stocks are an accumulation of...

Horizontal/Vertical Stock Fund Cost Comparison

DTIC Science & Technology

1974-08-01

units. Installation Supply Division account and other instal- lation operated activities: Self -Service Supply Store, Clothing Initial...installation supply operations are the Self -Service Supply Center, Clothing Sales Store, Central Issue Facility, and Clothing Initial Issue Point. Stock- age...stocks, stocks for installation operated supply activities such as the Self Service Supply Store, Clothing Sales Store and

26 CFR 1.307-1 - General.

Code of Federal Regulations, 2010 CFR

2010-04-01

... TAXES Effects on Recipients § 1.307-1 General. (a) If a shareholder receives stock or stock rights as a... the distribution was made shall be allocated between the old and new stocks or rights in proportion to... rights as a distribution on stock previously held and pursuant to section 305 part of the distribution is...

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

Federal Register 2010, 2011, 2012, 2013, 2014

2011-10-04

... Methodology for Determining When To Halt Trading in All Stocks Due to Extraordinary Market Volatility... all stocks due to extraordinary market volatility. II. Self-Regulatory Organization's Statement of the... determining when to halt trading in all stocks due to extraordinary market volatility. The Exchange is...

Effects of multiple interacting disturbances and salvage logging on forest carbon stocks

Treesearch

John B. Bradford; Shawn Fraver; Amy M. Milo; Anthony W. D' Amato; Brian J. Palik

2012-01-01

Climate change is anticipated to increase the frequency of disturbances, potentially impacting carbon stocks in terrestrial ecosystems. However, little is known about the implications of either multiple disturbances or post-disturbance forest management activities on ecosystem carbon stocks. This study quantified how forest carbon stocks responded to stand-replacing...

26 CFR 1.422-4 - $100,000 limitation for incentive stock options.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 5 2010-04-01 2010-04-01 false $100,000 limitation for incentive stock options... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Certain Stock Options § 1.422-4 $100,000 limitation for incentive stock options. (a) $100,000 per year limitation—(1) General rule. An option that otherwise...

76 FR 35959 - Capital Adequacy Guidelines; Small Bank Holding Company Policy Statement: Treatment of...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-06-21

... could not participate in the CPP through the issuance of Senior Perpetual Preferred Stock because, under... holding companies organized in mutual form also cannot issue Senior Perpetual Preferred Stock [[Page 35960... perpetual preferred stock of banking organizations (Senior Perpetual Preferred Stock) that are not S-Corps...

Restoration guidelines for riparian areas using dormant stock "pole" cuttings

Treesearch

Tony Barron

1996-01-01

The Open Space Division manages seven thousand acres of riparian areas comprising the Rio Grande Valley State Park. In 1988. Open Space began experimenting with dormant stock cuttings. This paper contains methods and procedures for establishing dormant stock cuttings. Dormant stock cuttings will be referred to as "poles" in this paper.

26 CFR 1.883-4T - Qualified shareholder stock ownership test (temporary).

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Qualified shareholder stock ownership test... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Foreign Corporations § 1.883-4T Qualified shareholder stock...)(E) through (e)(1). (2) With respect to all qualified shareholders relied upon to satisfy the 50...

75 FR 34186 - Self-Regulatory Organizations; BATS Exchange, Inc.; EDGA Exchange, Inc.; EDGX Exchange, Inc...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-06-16

... Securities Exchange LLC; New York Stock Exchange LLC; NYSE Amex LLC; NYSE Arca, Inc.; The NASDAQ Stock Market... Extraordinary Market Volatility June 10, 2010. I. Introduction On May 18, 2010, each of BATS Exchange, Inc..., Inc. (``NYSEArca''), The NASDAQ Stock Market LLC (``NASDAQ''), National Stock Exchange, Inc. (``NSX...

Chapter 29. Production and use of planting stock

Treesearch

Nancy L. Shaw

2004-01-01

Vegetation can be rapidly established on disturbed sites by planting stock alone or in combination with direct seedings. Types of planting stock commonly used range from bareroot or containerized seedlings to pads of native vegetation. Inclusion of planting stock in rehabilitation or restoration projects requires careful scheduling, selection of adapted plant species,...

76 FR 73756 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Order Granting...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-29

...-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Order Granting Accelerated... hereby given that on November 8, 2011, National Stock Exchange, Inc. (the ``Exchange'' or ``NSX'') filed...-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change National Stock...

75 FR 25010 - Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-05-06

...-025, The NASDAQ Stock Market LLC (``NASDAQ Exchange'') sought and received Commission approval to... requirements apply to elections of directors and were not amended. Each share of common stock has one vote,\\8...-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate...

7 CFR 301.92-4 - Conditions governing the interstate movement of regulated, restricted, and associated articles...

Code of Federal Regulations, 2010 CFR

2010-01-01

... regulated, restricted, and associated articles, and non-host nursery stock from quarantined and regulated... associated articles, and non-host nursery stock from quarantined and regulated areas. (a) Interstate movement... movement of nursery stock from nurseries in quarantined areas—(1) Regulated articles of nursery stock and...

17 CFR 230.236 - Exemption of shares offered in connection with certain transactions.

Code of Federal Regulations, 2010 CFR

2010-04-01

... Exemptions § 230.236 Exemption of shares offered in connection with certain transactions. Shares of stock or... securities in lieu of issuing fractional shares, script certificates or order forms, in connection with a stock dividend, stock split, reverse stock split, conversion, merger or similar transaction, shall be...

12 CFR 574.8 - Qualified stock issuances by undercapitalized savings associations or holding companies.

Code of Federal Regulations, 2010 CFR

2010-01-01

... voting stock of the issuing undercapitalized savings association or savings and loan holding company. (8... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Qualified stock issuances by undercapitalized... SUPERVISION, DEPARTMENT OF THE TREASURY ACQUISITION OF CONTROL OF SAVINGS ASSOCIATIONS § 574.8 Qualified stock...

26 CFR 1.1202-2 - Qualified small business stock; effect of redemptions.

Code of Federal Regulations, 2010 CFR

2010-04-01

... purchased from the decedent's estate, beneficiary (whether by bequest or lifetime gift), heir, surviving.... Stock acquired by a taxpayer is not qualified small business stock if, in one or more purchases during... corporation purchases (directly or indirectly) more than a de minimis amount of its stock from the taxpayer or...

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... affairs of the Bank shall be administered fairly and impartially and without discrimination in favor of or...

50 CFR 216.15 - Depleted species.

Code of Federal Regulations, 2011 CFR

2011-10-01

... these waters. (h) Eastern North Pacific Southern Resident stock of killer whales (Orcinus orca). The stock includes all resident killer whales in pods J, K, and L in the waters of, but not limited to, the... Juan de Fuca, and Puget Sound. (i) AT1 stock of killer whales (Orcinus orca). The stock includes all...

50 CFR 216.15 - Depleted species.

Code of Federal Regulations, 2014 CFR

2014-10-01

... these waters. (h) Eastern North Pacific Southern Resident stock of killer whales (Orcinus orca). The stock includes all resident killer whales in pods J, K, and L in the waters of, but not limited to, the... Juan de Fuca, and Puget Sound. (i) AT1 stock of killer whales (Orcinus orca). The stock includes all...

50 CFR 216.15 - Depleted species.

Code of Federal Regulations, 2013 CFR

2013-10-01

... these waters. (h) Eastern North Pacific Southern Resident stock of killer whales (Orcinus orca). The stock includes all resident killer whales in pods J, K, and L in the waters of, but not limited to, the... Juan de Fuca, and Puget Sound. (i) AT1 stock of killer whales (Orcinus orca). The stock includes all...

50 CFR 216.15 - Depleted species.

Code of Federal Regulations, 2010 CFR

2010-10-01

... these waters. (h) Eastern North Pacific Southern Resident stock of killer whales (Orcinus orca). The stock includes all resident killer whales in pods J, K, and L in the waters of, but not limited to, the... Juan de Fuca, and Puget Sound. (i) AT1 stock of killer whales (Orcinus orca). The stock includes all...

50 CFR 216.15 - Depleted species.

Code of Federal Regulations, 2012 CFR

2012-10-01

... these waters. (h) Eastern North Pacific Southern Resident stock of killer whales (Orcinus orca). The stock includes all resident killer whales in pods J, K, and L in the waters of, but not limited to, the... Juan de Fuca, and Puget Sound. (i) AT1 stock of killer whales (Orcinus orca). The stock includes all...

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....1-General § 101-30.101-3 National stock number. The national stock number (NSN) is the identifying number assigned to each item of supply. The NSN consists of the 4-digit Federal Supply Classification...

Stock Market Project.

ERIC Educational Resources Information Center

Distel, Brenda D.

This project is designed to teach students the process of buying stocks and to tracking their investments over the course of a semester. The goals of the course are to teach students about the relationships between conditions in the economy and the stock market; to predict the effect of an economic event on a specific stock or industry; to relate…

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

Federal Register 2010, 2011, 2012, 2013, 2014

2010-03-29

...-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of... on March 11, 2010, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the... the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The New York Stock...

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) A...

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 capital...

Comparison of advanced genetic loblolly pine planting stock

Treesearch

R.J. Rousseau; S.D. Roberts; B.L. Herrin

2012-01-01

Forest landowners have several options when it comes to selecting planting stock for loblolly pine plantations. The majority of plantations established over the past two decades have been planted with 2nd-Generation open-pollinated (2nd-Gen) seedling stock. Today, landowners can increase their yields using more sophisticated planting stock such as Mass Control...

75 FR 18824 - Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0019, Stocks...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-04-13

... Renew Collection 3038-0019, Stocks of Grain in Licensed Warehouses AGENCY: Commodity Futures Trading...., permitting electronic submission of responses. Stocks of Grain in Licensed Warehouses, OMB Control No. 3038... warehouses regular for delivery to keep records on stocks of commodities and make reports on call by the...

Hidden cross-correlation patterns in stock markets based on permutation cross-sample entropy and PCA

NASA Astrophysics Data System (ADS)

Lin, Aijing; Shang, Pengjian; Zhong, Bo

2014-12-01

In this article, we investigate the hidden cross-correlation structures in Chinese stock markets and US stock markets by performing PCSE combined with PCA approach. It is suggested that PCSE can provide a more faithful and more interpretable description of the dynamic mechanism between time series than cross-correlation matrix. We show that this new technique can be adapted to observe stock markets especially during financial crisis. In order to identify and compare the interactions and structures of stock markets during financial crisis, as well as in normal periods, all the samples are divided into four sub-periods. The results imply that the cross-correlations between Chinese group are stronger than the US group in the most sub-periods. In particular, it is likely that the US stock markets are more integrated with each other during global financial crisis than during Asian financial crisis. However, our results illustrate that Chinese stock markets are not immune from the global financial crisis, although less integrated with other markets if they are compared with US stock markets.

Evaluating potential overlap between pack stock and Sierra Nevada bighorn sheep (Ovis canadensis sierrae) in Sequoia and Kings Canyon National Parks, California

USGS Publications Warehouse

Klinger, Robert C.; Few, Alexandra P.; Knox, Kathleen A.; Hatfield, Brian E.; Clark, Jonathan; German, David W.; Stephenson, Thomas R.

2015-01-01

The association analyses indicated the potential for overlap between pack stock and SNBS was minimal; only 1 percent of the potential meadow area in the SNBS herd home ranges overlapped that of pack stock meadows. There were no systematic differences in overall vegetation structure or composition, or in diversity, cover, or composition of forage species, that indicated pack stock were altering SNBS habitat or affecting their nutrition. Variation in plant species composition was influenced primarily by random differences among meadows and environmental gradients, and there was little evidence that pack stock use contributed in meaningful ways to this variation. The few differences among meadows with different levels of use by bighorn sheep and pack stock either were minor or were not in a direction consistent with negative effects of pack stock on SNBS. We conclude that the current plan for managing pack stock grazing has been successful in minimizing significant negative effects on Sierra Nevada bighorn sheep at Sequoia and Kings Canyon National Parks.

Cross-Correlation Asymmetries and Causal Relationships between Stock and Market Risk

PubMed Central

Borysov, Stanislav S.; Balatsky, Alexander V.

2014-01-01

We study historical correlations and lead-lag relationships between individual stock risk (volatility of daily stock returns) and market risk (volatility of daily returns of a market-representative portfolio) in the US stock market. We consider the cross-correlation functions averaged over all stocks, using 71 stock prices from the Standard & Poor's 500 index for 1994–2013. We focus on the behavior of the cross-correlations at the times of financial crises with significant jumps of market volatility. The observed historical dynamics showed that the dependence between the risks was almost linear during the US stock market downturn of 2002 and after the US housing bubble in 2007, remaining at that level until 2013. Moreover, the averaged cross-correlation function often had an asymmetric shape with respect to zero lag in the periods of high correlation. We develop the analysis by the application of the linear response formalism to study underlying causal relations. The calculated response functions suggest the presence of characteristic regimes near financial crashes, when the volatility of an individual stock follows the market volatility and vice versa. PMID:25162697

Evaluation of FIDC system. [fuel vapor injector/ogniter and lean limit controller for automobile engines

NASA Technical Reports Server (NTRS)

Hall, R. A.; Dowdy, M. W.; Price, T. W.

1978-01-01

A fuel vapor injector/igniter system was evaluated for its effect on automobile engine performance, fuel economy, and exhaust emissions. Improved fuel economy and emissions, found during the single cylinder tests were not realized with a multicylinder engine. Multicylinder engine tests were conducted to compare the system with both a stock and modified stock configuration. A comparison of cylinder-to-cylinder equivalence ratio distribution was also obtained from the multicylinder engine tests. The multicylinder engine was installed in a vehicle was tested on a chassis dynamometer to compare the system with stock and modified stock configurations. The fuel vapor injector/igniter system (FIDC) configuration demonstrated approximately five percent improved fuel economy over the stock configuration, but the modified stock configuration demonstrated approximately twelve percent improved fuel economy. The hydrocarbon emissions were approximately two-hundred-thirty percent higher with the FIDC system than with the stock configuration. Both the FIDC system and the modified stock configuration adversely affected driveability. The FIDC system demonstrated a modest fuel savings, but with the penalty of increased emissions, and loss of driveability.

Simultaneous quantification by HPLC of purines in umami soup stock and evaluation of their effects on extracellular and intracellular purine metabolism.

PubMed

Fukuuchi, T; Iyama, N; Yamaoka, N; Kaneko, K

2018-04-13

Ribonucleotide flavor enhancers such as inosine monophosphate (IMP) and guanosine monophosphate (GMP) provide umami taste, similarly to glutamine. Japanese cuisine frequently uses soup stocks containing these nucleotides to enhance umami. We quantified 18 types of purines (nucleotides, nucleosides, and purine bases) in three soup stocks (chicken, consommé, and dried bonito soup). IMP was the most abundant purine in all umami soup stocks, followed by hypoxanthine, inosine, and GMP. The IMP content of dried bonito soup was the highest of the three soup stocks. We also evaluated the effects of these purines on extracellular and intracellular purine metabolism in HepG2 cells after adding each umami soup stock to the cells. An increase in inosine and hypoxanthine was evident 1 h and 4 h after soup stock addition, and a low amount of xanthine and guanosine was observed in the extracellular medium. The addition of chicken soup stock resulted in increased intracellular and extracellular levels of uric acid and guanosine. Purine metabolism may be affected by ingredients present in soups.

Stock-specific migration timing of adult spring-summer Chinook salmon in the Columbia River basin

USGS Publications Warehouse

Keefer, M.L.; Peery, C.A.; Jepson, M.A.; Tolotti, K.R.; Bjornn, T.C.; Stuehrenberg, L.C.

2004-01-01

An understanding of the migration timing patterns of Pacific salmon Oncorhynchus spp. and steelhead O. mykiss is important for managing complex mixed-stock fisheries and preserving genetic and life history diversity. We examined adult return timing for 3,317 radio-tagged fish from 38 stocks of Columbia River basin spring-summer Chinook salmon O. tshawytscha over 5 years. Stock composition varied widely within and between years depending on the strength of influential populations. Most individual stocks migrated at similar times each year relative to overall runs, supporting the hypotheses that run timing is predictable, is at least partially due to genetic adaptation, and can be used to differentiate between some conspecific populations. Arrival timing of both aggregated radio-tagged stocks and annual runs was strongly correlated with river discharge; stocks arrived earlier at Bonneville Dam and at upstream dams in years with low discharge. Migration timing analyses identified many between-stock and between-year differences in anadromous salmonid return behavior and should and managers interested in protection and recovery of evolutionary significant populations.

Cross-correlation asymmetries and causal relationships between stock and market risk.

PubMed

Borysov, Stanislav S; Balatsky, Alexander V

2014-01-01

We study historical correlations and lead-lag relationships between individual stock risk (volatility of daily stock returns) and market risk (volatility of daily returns of a market-representative portfolio) in the US stock market. We consider the cross-correlation functions averaged over all stocks, using 71 stock prices from the Standard & Poor's 500 index for 1994-2013. We focus on the behavior of the cross-correlations at the times of financial crises with significant jumps of market volatility. The observed historical dynamics showed that the dependence between the risks was almost linear during the US stock market downturn of 2002 and after the US housing bubble in 2007, remaining at that level until 2013. Moreover, the averaged cross-correlation function often had an asymmetric shape with respect to zero lag in the periods of high correlation. We develop the analysis by the application of the linear response formalism to study underlying causal relations. The calculated response functions suggest the presence of characteristic regimes near financial crashes, when the volatility of an individual stock follows the market volatility and vice versa.

A Novel Model for Stock Price Prediction Using Hybrid Neural Network

NASA Astrophysics Data System (ADS)

Senapati, Manas Ranjan; Das, Sumanjit; Mishra, Sarojananda

2018-06-01

The foremost challenge for investors is to select stock price by analyzing financial data which is a menial task as of distort associated and massive pattern. Thereby, selecting stock poses one of the greatest difficulties for investors. Nowadays, prediction of financial market like stock market, exchange rate and share value are very challenging field of research. The prediction and scrutinization of stock price is also a potential area of research due to its vital significance in decision making by financial investors. This paper presents an intelligent and an optimal model for prophecy of stock market price using hybridization of Adaline Neural Network (ANN) and modified Particle Swarm Optimization (PSO). The connoted model hybrid of Adaline and PSO uses fluctuations of stock market as a factor and employs PSO to optimize and update weights of Adaline representation to depict open price of Bombay stock exchange. The prediction performance of the proposed model is compared with different representations like interval measurements, CMS-PSO and Bayesian-ANN. The result indicates that proposed scheme has an edge over all the juxtaposed schemes in terms of mean absolute percentage error.

Topological Characteristics of the Hong Kong Stock Market: A Test-based P-threshold Approach to Understanding Network Complexity

NASA Astrophysics Data System (ADS)

Xu, Ronghua; Wong, Wing-Keung; Chen, Guanrong; Huang, Shuo

2017-02-01

In this paper, we analyze the relationship among stock networks by focusing on the statistically reliable connectivity between financial time series, which accurately reflects the underlying pure stock structure. To do so, we firstly filter out the effect of market index on the correlations between paired stocks, and then take a t-test based P-threshold approach to lessening the complexity of the stock network based on the P values. We demonstrate the superiority of its performance in understanding network complexity by examining the Hong Kong stock market. By comparing with other filtering methods, we find that the P-threshold approach extracts purely and significantly correlated stock pairs, which reflect the well-defined hierarchical structure of the market. In analyzing the dynamic stock networks with fixed-size moving windows, our results show that three global financial crises, covered by the long-range time series, can be distinguishingly indicated from the network topological and evolutionary perspectives. In addition, we find that the assortativity coefficient can manifest the financial crises and therefore can serve as a good indicator of the financial market development.

Stock price estimation using ensemble Kalman Filter square root method

NASA Astrophysics Data System (ADS)

Karya, D. F.; Katias, P.; Herlambang, T.

2018-04-01

Shares are securities as the possession or equity evidence of an individual or corporation over an enterprise, especially public companies whose activity is stock trading. Investment in stocks trading is most likely to be the option of investors as stocks trading offers attractive profits. In determining a choice of safe investment in the stocks, the investors require a way of assessing the stock prices to buy so as to help optimize their profits. An effective method of analysis which will reduce the risk the investors may bear is by predicting or estimating the stock price. Estimation is carried out as a problem sometimes can be solved by using previous information or data related or relevant to the problem. The contribution of this paper is that the estimates of stock prices in high, low, and close categorycan be utilized as investors’ consideration for decision making in investment. In this paper, stock price estimation was made by using the Ensemble Kalman Filter Square Root method (EnKF-SR) and Ensemble Kalman Filter method (EnKF). The simulation results showed that the resulted estimation by applying EnKF method was more accurate than that by the EnKF-SR, with an estimation error of about 0.2 % by EnKF and an estimation error of 2.6 % by EnKF-SR.

Decreased mortality of lake michigan chinook salmon after bacterial kidney disease challenge: Evidence for pathogen-driven selection?

USGS Publications Warehouse

Purcell, M.K.; Murray, A.L.; Elz, A.; Park, L.K.; Marcquenski, S.V.; Winton, J.R.; Alcorn, S.W.; Pascho, R.J.; Elliott, D.G.

2008-01-01

In the late 1960s, Chinook salmon Oncorhynchus tshawytscha from the Green River, Washington, were successfully introduced into Lake Michigan. During spring from1988 to 1992, large fish die-offs affecting Chinook salmon occurred in the lake. Multiple ecological factors probably contributed to the severity of the fish kills, but the only disease agent found regularly was Renibacterium salmoninarum, the causative agent of bacterial kidney disease. in this study, survival after challenge by R. salmoninarum was compared between two Chinook salmon stocks: a Lake Michigan stock from Wisconsin (WI) and the progenitor stock from the Green River. We found that the WI stock had significantly greater survival than the Green River stock. Next, the WI and Green River stocks were exposed to the marine pathogen Listonella anguillarum (formerly Vibrio anguillarum), one of the causative agents of vibriosis; survival after this challenge was significantly poorer for the WI stock than for the Green River stock. A close genetic relationship between the Green River and WI stocks was confirmed by analyzing 13 microsatellite loci. These results collectively suggest that disease susceptibility of Lake Michigan Chinook salmon has diverged from that of the source population, possibly in response to pathogen-driven selection. ?? Copyright by the American Fisheries Society 2008.

Prediction of Safety Stock Using Fuzzy Time Series (FTS) and Technology of Radio Frequency Identification (RFID) for Stock Control at Vendor Managed Inventory (VMI)

NASA Astrophysics Data System (ADS)

Mashuri, Chamdan; Suryono; Suseno, Jatmiko Endro

2018-02-01

This research was conducted by prediction of safety stock using Fuzzy Time Series (FTS) and technology of Radio Frequency Identification (RFID) for stock control at Vendor Managed Inventory (VMI). Well-controlled stock influenced company revenue and minimized cost. It discussed about information system of safety stock prediction developed through programming language of PHP. Input data consisted of demand got from automatic, online and real time acquisition using technology of RFID, then, sent to server and stored at online database. Furthermore, data of acquisition result was predicted by using algorithm of FTS applying universe of discourse defining and fuzzy sets determination. Fuzzy set result was continued to division process of universe of discourse in order to be to final step. Prediction result was displayed at information system dashboard developed. By using 60 data from demand data, prediction score was 450.331 and safety stock was 135.535. Prediction result was done by error deviation validation using Mean Square Percent Error of 15%. It proved that FTS was good enough in predicting demand and safety stock for stock control. For deeper analysis, researchers used data of demand and universe of discourse U varying at FTS to get various result based on test data used.

Are Vietnam and Chinese stock markets out of the US contagion effect in extreme events?

NASA Astrophysics Data System (ADS)

Nguyen, Cuong; Ishaq Bhatti, M.; Henry, Darren

2017-08-01

This paper employs Chi-plots, Kendall (K)-plots and three different copula functions to empirically examine the tail dependence between the US stock market and stock markets in Vietnam and China in order to test contagion effects pre- and post- the US subprime mortgage crisis. The results based on data between 2003 and 2011 indicate the presence of left tail dependence before and after the crisis suggesting no change in dependence structure, but there exists stronger left tail dependence between the US and Vietnam stock markets. It is observed that the US and Vietnam stock markets are more prone to crashing than booming together. For the Chinese market, the US and Shanghai stock markets exhibit left tail dependence before the crisis, but no evidence of post-crisis tail dependency. On the contrary, the Shenzhen stock market is independent of the US market before and after the crisis which implies that an extreme event in the US market is less likely to influence the Shenzhen stock market. This suggests that there is significant potential for risk diversification by investing in the Shenzhen market by US investors after the financial crisis. These results have not been documented in the existing literature and provide a new insight into risk diversification between the two important Asian emerging stock markets.

Long-term consequences of variation in timing and manner of fry introduction on juvenile Atlantic salmon (Salmo salar) growth, survival, and life-history expression

USGS Publications Warehouse

Letcher, B.H.; Dubreuil, T.; O'Donnell, M. J.; Obedzinski, M.; Griswold, K.; Nislow, K.H.

2004-01-01

We tested the influence of introduction time and the manner of introduction on growth, survival, and life-history expression of Atlantic salmon (Salmo salar). Introduction treatments included three fry stocking times and stream rearing of embryos. Despite poor growth conditions during the early stocking period, early-stocked fish were larger throughout the entire study period, likely the result of prior residence advantage. This interpretation was reinforced by the laboratory study, where early-stocked fish outgrew late-stocked fish when reared together, but not when they were reared separately. In contrast to growth, abundance of stocked fish was greatest for fish stocked during the middle period, and this stocking group produced the greatest number of smolts. Despite smaller size, survival of stream-incubated fish was generally greater than survival of stocked fish. Introduction timing had a pronounced effect on smolt age but a weak effect on extent of parr maturation. Overall, these observations indicate that small differences (???2 weeks) in introduction time can have long-term effects on size, survival, and life-history expression. Results suggest stabilizing selection on introduction times, mediated by the interaction between prior residence (advantage to fish introduced earlier) and habitat suitability (advantage to fish introduced later). ?? 2004 NRC Canada.

Decreased mortality of Lake Michigan Chinook salmon after bacterial kidney disease challenge: evidence for pathogen-driven selection?

PubMed

Purcell, Maureen K; Murray, Anthony L; Elz, Anna; Park, Linda K; Marcquenski, Susan V; Winton, James R; Alcorn, Stewart W; Pascho, Ronald J; Elliott, Diane G

2008-12-01

In the late 1960s, Chinook salmon Oncorhynchus tshawytscha from the Green River, Washington, were successfully introduced into Lake Michigan. During spring from 1988 to 1992, large fish die-offs affecting Chinook salmon occurred in the lake. Multiple ecological factors probably contributed to the severity of the fish kills, but the only disease agent found regularly was Renibacterium salmoninarum, the causative agent of bacterial kidney disease. In this study, survival after challenge by R. salmoninarum was compared between two Chinook salmon stocks: a Lake Michigan stock from Wisconsin (WI) and the progenitor stock from the Green River. We found that the WI stock had significantly greater survival than the Green River stock. Next, the WI and Green River stocks were exposed to the marine pathogen Listonella anguillarum (formerly Vibrio anguillarum), one of the causative agents of vibriosis; survival after this challenge was significantly poorer for the WI stock than for the Green River stock. A close genetic relationship between the Green River and WI stocks was confirmed by analyzing 13 microsatellite loci. These results collectively suggest that disease susceptibility of Lake Michigan Chinook salmon has diverged from that of the source population, possibly in response to pathogen-driven selection.

Genetic strategies for lake trout rehabilitation: a synthesis

USGS Publications Warehouse

Burnham-Curtis, Mary K.; Krueger, Charles C.; Schreiner, Donald R.; Johnson, James E.; Stewart, Thomas J.; Horrall, Ross M.; MacCallum, Wayne R.; Kenyon, Roger; Lange, Robert E.

1995-01-01

The goal of lake trout rehabilitation efforts in the Great Lakes has been to reestablish inshore lake trout (Salvelinus namaycush) populations to self-sustaining levels. A combination of sea lamprey control, stocking of hatchery-reared lake trout, and catch restrictions were used to enhance remnant lake trout stocks in Lake Superior and reestablish lake trout in Lakes Michigan, Huron, Erie, and Ontario. Genetic diversity is important for the evolution and maintenance of successful adaptive strategies critical to population restoration. The loss of genetic diversity among wild lake trout stocks in the Great Lakes imposes a severe constraint on lake trout rehabilitation. The objective of this synthesis is to address whether the particular strain used for stocking combined with the choice of stocking location affects the success or failure of lake trout rehabilitation. Poor survival, low juvenile recruitment, and inefficient habitat use are three biological impediments to lake trout rehabilitation that can be influenced by genetic traits. Evidence supports the hypothesis that the choices of appropriate lake trout strain and stocking locations enhance the survival of lake trout stocked into the Great Lakes. Genetic strategies proposed for lake trout rehabilitation include conservation of genetic diversity in remnant stocks, matching of strains with target environments, stocking a greater variety of lake trout phenotypes, and rehabilitation of diversity at all trophic levels.

Outlook of the world steel cycle based on the stock and flow dynamics.

PubMed

Hatayama, Hiroki; Daigo, Ichiro; Matsuno, Yasunari; Adachi, Yoshihiro

2010-08-15

We present a comprehensive analysis of steel use in the future compiled using dynamic material flow analysis (MFA). A dynamic MFA for 42 countries depicted the global in-use stock and flow up to the end of 2005. On the basis of the transition of steel stock for 2005, the growth of future steel stock was then estimated considering the economic growth for every country. Future steel demand was estimated using dynamic analysis under the new concept of "stocks drive flows". The significant results follow. World steel stock reached 12.7 billion t in 2005, and has doubled in the last 25 years. The world stock in 2005 mainly consisted of construction (60%) and vehicles (10%). Stock in these end uses will reach 55 billion t in 2050, driven by a 10-fold increase in Asia. Steel demand will reach 1.8 billion t in 2025, then slightly decrease, and rise again by replacement of buildings. The forecast of demand clearly represents the industrial shift; at first the increase is dominated by construction, and then, after 2025, demand for construction decreases and demand for vehicles increases instead. This study thus provides the dynamic mechanism of steel stock and flow toward the future, which contributes to the design of sustainable steel use.

Tropical Soil Carbon Stocks do not Reflect Aboveground Forest Biomass Across Geological and Rainfall Gradients

NASA Astrophysics Data System (ADS)

Cusack, D. F.; Markesteijn, L.; Turner, B. L.

2016-12-01

Soil organic carbon (C) dynamics present a large source of uncertainty in global C cycle models, and inhibit our ability to predict effects of climate change. Tropical wet and seasonal forests exert a disproportionate influence on the global C cycle relative to their land area because they are the most C-rich ecosystems on Earth, containing 25-40% of global terrestrial C stocks. While significant advances have been made to map aboveground C stocks in tropical forests, determining soil C stocks using remote sensing technology is still not possible for closed-canopy forests. It is unclear to what extent aboveground C stocks can be used to predict soil C stocks across tropical forests. Here we present 1-m-deep soil organic C stocks for 42 tropical forest sites across rainfall and geological gradients in Panama. We show that soil C stocks do not correspond to aboveground plant biomass or to litterfall productivity in these humid tropical forests. Rather, soil C stocks were strongly and positively predicted by fine root biomass, soil clay content, and rainfall (R2 = 0.47, p < 0.05). Fine root biomass, in turn, was most strongly predicted by total extractable soil base cations (R2 = 0.24, p < 0.05, negative relationship). Our measures of tropical soil C and its relationships with climatic and soil chemical characteristics form an important basis for improving model estimates of soil C stocks and predictions of climate change effects on tropical C storage.

The evolution of spillover effects between oil and stock markets across multi-scales using a wavelet-based GARCH-BEKK model

NASA Astrophysics Data System (ADS)

Liu, Xueyong; An, Haizhong; Huang, Shupei; Wen, Shaobo

2017-01-01

Aiming to investigate the evolution of mean and volatility spillovers between oil and stock markets in the time and frequency dimensions, we employed WTI crude oil prices, the S&P 500 (USA) index and the MICEX index (Russia) for the period Jan. 2003-Dec. 2014 as sample data. We first applied a wavelet-based GARCH-BEKK method to examine the spillover features in frequency dimension. To consider the evolution of spillover effects in time dimension at multiple-scales, we then divided the full sample period into three sub-periods, pre-crisis period, crisis period, and post-crisis period. The results indicate that spillover effects vary across wavelet scales in terms of strength and direction. By analysis the time-varying linkage, we found the different evolution features of spillover effects between the Oil-US stock market and Oil-Russia stock market. The spillover relationship between oil and US stock market is shifting to short-term while the spillover relationship between oil and Russia stock market is changing to all time scales. That result implies that the linkage between oil and US stock market is weakening in the long-term, and the linkage between oil and Russia stock market is getting close in all time scales. This may explain the phenomenon that the US stock index and the Russia stock index showed the opposite trend with the falling of oil price in the post-crisis period.

The persistence of component Theileria parva stocks in cattle immunized with the 'Muguga cocktail' live vaccine against East Coast fever in Uganda.

PubMed

Oura, C A L; Bishop, R; Wampande, E M; Lubega, G W; Tait, A

2004-07-01

The 'Muguga cocktail' live vaccine comprises three Theileria parva stocks (Muguga, Kiambu 5 and the buffalo-derived Serengeti-transformed) and has been used extensively in Eastern, Central and Southern Africa with an infection and treatment protocol to protect cattle against East Coast fever. We report the characterization of the three component vaccine stocks using a panel of polymorphic micro-satellite and mini-satellite markers and the development of a stock-derived PCR method that distinguishes two of the vaccine stocks. These markers, with the use of a recently developed Reverse Line Blot assay, have enabled us to address four important questions in relation to vaccination. First, how closely related are the vaccine stocks, secondly do all three stocks persist post-vaccination and induce a carrier state, thirdly is there evidence for the transmission of the vaccine stocks and fourthly does vaccination prevent infection with local genotypes? The results show that Muguga and Serengeti-transformed stocks are highly related but very distinct from Kiambu 5 that persists in vaccinated cattle establishing a carrier state. No evidence was obtained for the transmission of vaccine stocks to co-grazed animals, although these animals were infected with up to 8 different T. parva genotypes showing there was a significant level of tick challenge. Some of the vaccinated animals become infected with a subset of local genotypes providing evidence for limited vaccine 'breakthrough'.

Scaling and volatility of breakouts and breakdowns in stock price dynamics.

PubMed

Liu, Lu; Wei, Jianrong; Huang, Jiping

2013-01-01

Because the movement of stock prices is not only ubiquitous in financial markets but also crucial for investors, extensive studies have been done to understand the law behind it. In particular, since the financial crisis in 2008, researchers have a more interest in investigating large market volatilities in order to grasp changing market trends. In this work, we analyze the breakouts and breakdowns of both the Standard & Poor's 500 Index in the US stock market and the Shanghai Composite Index in the Chinese stock market. The breakout usually represents an ongoing upward trend in technical analysis while the breakdown represents an ongoing downward trend. Based on the renormalization method, we introduce two parameters to quantize breakouts and breakdowns, respectively. We discover scaling behavior, characterized by power-law distributions for both the breakouts and breakdowns in the two financial markets with different power-law exponents, which reflect different market volatilities. In detail, the market volatility for breakdowns is usually larger than that for breakouts. Moreover, as an emerging market, the Chinese stock market has larger market volatilities for both the breakouts and breakdowns than the US stock market (a mature market). Further, the short-term volatilities show similar features for both the US stock market and the Chinese stock market. However, the medium-term volatilities in the US stock market are almost symmetrical for the breakouts and breakdowns, whereas those in the Chinese stock market appear to be asymmetrical for the breakouts and breakdowns. The methodology presented here provides a way to understand scaling and hence volatilities of breakouts and breakdowns in stock price dynamics. Our findings not only reveal the features of market volatilities but also make a comparison between mature and emerging financial markets.

Pathogens associated with native and exotic trout populations in Shenandoah National Park and the relationships to fish stocking practices

USGS Publications Warehouse

Panek, Frank M.; Atkinson, James; Coll, John

2008-01-01

Restrictive fish stocking policies in National Parks were developed as early as 1936 in order to preserve native fish assemblages and historic genetic diversity. Despite recent efforts to understand the effects of non-native or exotic fish introductions, park managers have limited information regarding the effects of these introductions on native fish communities. Shenandoah National Park was established in 1936 and brook trout (Salvelinus fontinalis) restoration within selected streams in the park began in 1937 in collaboration with the Virginia Department of Game and Inland Fisheries (VDGIF). An analysis of tissue samples from brook, brown (Salmo trutta), and rainbow trout (Oncorhynchus mykiss) from 29 streams within the park from 1998–2002 revealed the presence of Renibacterium salmoninarum, Yersinia ruckeri, and infectious pancreatic necrosis virus (IPNv). In order to investigate the relationships of the occurrence of fish pathogens with stocking histories we classified the streams into three categories: 1) streams with no record of stocking, 2) streams that are known to have been stocked historically, and 3) streams that were historically stocked within the park and continue to be stocked downstream of the park boundary. The occurrences of pathogens were summarized relative to this stocking history. Renibacterium salmoninarum, the causative agent of bacterial kidney disease, was the most prevalent pathogen found, occurring in all three species and stream stocking categories, and appears to be endemic to the park. Two other pathogens, Yersinia ruckeri and infectious pancreatic necrosis virus were also described from brook trout populations within the park. IPNv was only found in brook trout populations in streams with prior stocking histories. Yersinia ruckeri was only found in brook trout in steams that have never been stocked and like R. salmoninarum, is likely endemic.

Feasibility of dsRNA treatment for post-clearing SPF shrimp stocks of newly discovered viral infections using Laem Singh virus (LSNV) as a model.

PubMed

Saksmerprome, Vanvimon; Charoonnart, Patai; Flegel, Timothy W

2017-05-02

Using post-larvae derived from specific pathogen free (SPF) stocks in penaeid shrimp farming has led to a dramatic increase in production. At the same time, new pathogens of farmed shrimp are continually being discovered. Sometimes these pathogens are carried by shrimp and other crustaceans as persistent infections without gross signs of disease. Thus it is that a 5-generation stock of Penaeus monodon SPF for several pathogens was found, post-stock-development, to be persistently-infected with newly-discovered Laem Singh virus (LSNV). In this situation, the stock developers were faced with destroying their existing stock (developed over a long period at considerable cost) and starting the whole stock development process anew in order to add LSNV to its SPF list. As an alternative, it was hypothesized that injection of complementary dsRNA into viral-infected broodstock prior to mating might inhibit replication of the target virus sufficiently to reduce or eliminate its transmission to their offspring. Subsequent selection of uninfected offspring would allow for post-clearing of LSNV from the existing stock and for conversion of the stock to LSNV-free status. Testing this hypothesis using the LSNV-infected stock described above, we found that transmission was substantially reduced in several treated broodstock compared to much higher transmission in buffer-injected broodstock. Based on these results, the model is proposed for post-clearing of SPF stocks using dsRNA treatment. The model may also be applicable to post-clearing of exceptional, individual performers from grow-out ponds for return to a nucleus breeding center. Copyright © 2017 Elsevier B.V. All rights reserved.

Problems of stock definition in estimating relative contributions of Atlantic striped bass to the coastal fishery

USGS Publications Warehouse

Waldman, John R.; Fabrizio, Mary C.

1994-01-01

Stock contribution studies of mixed-stock fisheries rely on the application of classification algorithms to samples of unknown origin. Although the performance of these algorithms can be assessed, there are no guidelines regarding decisions about including minor stocks, pooling stocks into regional groups, or sampling discrete substocks to adequately characterize a stock. We examined these questions for striped bass Morone saxatilis of the U.S. Atlantic coast by applying linear discriminant functions to meristic and morphometric data from fish collected from spawning areas. Some of our samples were from the Hudson and Roanoke rivers and four tributaries of the Chesapeake Bay. We also collected fish of mixed-stock origin from the Atlantic Ocean near Montauk, New York. Inclusion of the minor stock from the Roanoke River in the classification algorithm decreased the correct-classification rate, whereas grouping of the Roanoke River and Chesapeake Bay stock into a regional (''southern'') group increased the overall resolution. The increased resolution was offset by our inability to obtain separate contribution estimates of the groups that were pooled. Although multivariate analysis of variance indicated significant differences among Chesapeake Bay substocks, increasing the number of substocks in the discriminant analysis decreased the overall correct-classification rate. Although the inclusion of one, two, three, or four substocks in the classification algorithm did not greatly affect the overall correct-classification rates, the specific combination of substocks significantly affected the relative contribution estimates derived from the mixed-stock sample. Future studies of this kind must balance the costs and benefits of including minor stocks and would profit from examination of the variation in discriminant characters among all Chesapeake Bay substocks.

Scaling and Volatility of Breakouts and Breakdowns in Stock Price Dynamics

PubMed Central

Liu, Lu; Wei, Jianrong; Huang, Jiping

2013-01-01

Background Because the movement of stock prices is not only ubiquitous in financial markets but also crucial for investors, extensive studies have been done to understand the law behind it. In particular, since the financial crisis in 2008, researchers have a more interest in investigating large market volatilities in order to grasp changing market trends. Methodology/Principal Findings In this work, we analyze the breakouts and breakdowns of both the Standard & Poor’s 500 Index in the US stock market and the Shanghai Composite Index in the Chinese stock market. The breakout usually represents an ongoing upward trend in technical analysis while the breakdown represents an ongoing downward trend. Based on the renormalization method, we introduce two parameters to quantize breakouts and breakdowns, respectively. We discover scaling behavior, characterized by power-law distributions for both the breakouts and breakdowns in the two financial markets with different power-law exponents, which reflect different market volatilities. In detail, the market volatility for breakdowns is usually larger than that for breakouts. Moreover, as an emerging market, the Chinese stock market has larger market volatilities for both the breakouts and breakdowns than the US stock market (a mature market). Further, the short-term volatilities show similar features for both the US stock market and the Chinese stock market. However, the medium-term volatilities in the US stock market are almost symmetrical for the breakouts and breakdowns, whereas those in the Chinese stock market appear to be asymmetrical for the breakouts and breakdowns. Conclusions/Signicance The methodology presented here provides a way to understand scaling and hence volatilities of breakouts and breakdowns in stock price dynamics. Our findings not only reveal the features of market volatilities but also make a comparison between mature and emerging financial markets. PMID:24376577

Discrimination among spawning aggregations of lake herring from Lake Superior using whole-body morphometric characters

USGS Publications Warehouse

Hoff, Michael H.

2004-01-01

The lake herring (Coregonus artedi) was one of the most commercially and ecologically valuable Lake Superior fishes, but declined in the second half of the 20th century as the result of overharvest of putatively discrete stocks. No tools were previously available that described lake herring stock structure and accurately classified lake herring to their spawning stocks. The accuracy of discriminating among spawning aggregations was evaluated using whole-body morphometrics based on a truss network. Lake herring were collected from 11 spawning aggregations in Lake Superior and two inland Wisconsin lakes to evaluate morphometrics as a stock discrimination tool. Discriminant function analysis correctly classified 53% of all fish from all spawning aggregations, and fish from all but one aggregation were classified at greater rates than were possible by chance. Discriminant analysis also correctly classified 66% of fish to nearest neighbor groups, which were groups that accounted for the possibility of mixing among the aggregations. Stepwise discriminant analysis showed that posterior body length and depth measurements were among the best discriminators of spawning aggregations. These findings support other evidence that discrete stocks of lake herring exist in Lake Superior, and fishery managers should consider all but one of the spawning aggregations as discrete stocks. Abundance, annual harvest, total annual mortality rate, and exploitation data should be collected from each stock, and surplus production of each stock should be estimated. Prudent management of stock surplus production and exploitation rates will aid in restoration of stocks and will prevent a repeat of the stock collapses that occurred in the middle of the 20th century, when the species was nearly extirpated from the lake.

Comparison of spatial association approaches for landscape mapping of soil organic carbon stocks

NASA Astrophysics Data System (ADS)

Miller, B. A.; Koszinski, S.; Wehrhan, M.; Sommer, M.

2015-03-01

The distribution of soil organic carbon (SOC) can be variable at small analysis scales, but consideration of its role in regional and global issues demands the mapping of large extents. There are many different strategies for mapping SOC, among which is to model the variables needed to calculate the SOC stock indirectly or to model the SOC stock directly. The purpose of this research is to compare direct and indirect approaches to mapping SOC stocks from rule-based, multiple linear regression models applied at the landscape scale via spatial association. The final products for both strategies are high-resolution maps of SOC stocks (kg m-2), covering an area of 122 km2, with accompanying maps of estimated error. For the direct modelling approach, the estimated error map was based on the internal error estimations from the model rules. For the indirect approach, the estimated error map was produced by spatially combining the error estimates of component models via standard error propagation equations. We compared these two strategies for mapping SOC stocks on the basis of the qualities of the resulting maps as well as the magnitude and distribution of the estimated error. The direct approach produced a map with less spatial variation than the map produced by the indirect approach. The increased spatial variation represented by the indirect approach improved R2 values for the topsoil and subsoil stocks. Although the indirect approach had a lower mean estimated error for the topsoil stock, the mean estimated error for the total SOC stock (topsoil + subsoil) was lower for the direct approach. For these reasons, we recommend the direct approach to modelling SOC stocks be considered a more conservative estimate of the SOC stocks' spatial distribution.

Comparison of spatial association approaches for landscape mapping of soil organic carbon stocks

NASA Astrophysics Data System (ADS)

Miller, B. A.; Koszinski, S.; Wehrhan, M.; Sommer, M.

2014-11-01

The distribution of soil organic carbon (SOC) can be variable at small analysis scales, but consideration of its role in regional and global issues demands the mapping of large extents. There are many different strategies for mapping SOC, among which are to model the variables needed to calculate the SOC stock indirectly or to model the SOC stock directly. The purpose of this research is to compare direct and indirect approaches to mapping SOC stocks from rule-based, multiple linear regression models applied at the landscape scale via spatial association. The final products for both strategies are high-resolution maps of SOC stocks (kg m-2), covering an area of 122 km2, with accompanying maps of estimated error. For the direct modelling approach, the estimated error map was based on the internal error estimations from the model rules. For the indirect approach, the estimated error map was produced by spatially combining the error estimates of component models via standard error propagation equations. We compared these two strategies for mapping SOC stocks on the basis of the qualities of the resulting maps as well as the magnitude and distribution of the estimated error. The direct approach produced a map with less spatial variation than the map produced by the indirect approach. The increased spatial variation represented by the indirect approach improved R2 values for the topsoil and subsoil stocks. Although the indirect approach had a lower mean estimated error for the topsoil stock, the mean estimated error for the total SOC stock (topsoil + subsoil) was lower for the direct approach. For these reasons, we recommend the direct approach to modelling SOC stocks be considered a more conservative estimate of the SOC stocks' spatial distribution.

Evaluation of coded wire tags for marking lake trout

USGS Publications Warehouse

Elrod, Joseph H.; Schneider, Clifford P.

1986-01-01

Among hatchery-reared lake trout (Salvelinus namaycush) of the 1979-1982 year classes stocked in New York waters of Lake Ontario, more than 3 million fish were marked with a coded wire tag (CWT) plus an adipose fin clip, and 1.5 million with only conventional fin clips. Altogether, 7,640 tags were recovered from fish collected with bottom trawls and gill nets or caught by anglers during 1980-1983. One person was able to extract and decipher 200 or more CWTs per day with about a 1% error rate in reading and recording codes. Presence of the CWT did not affect growth. The adipose fin clip did not regenerate. The occurrence of fish with an adipose fin clip but no CWT resulted primarily from the regeneration of paired fins among fish marked with a combination of the adipose fin and a paired fin. Loss of CWTs between marking and stocking (generally 4-5 months for fish stocked in spring and 1-8 d for fish stocked in fall) declined from nearly 11% for the 1979 year class stocked as fall fingerlings to less than 3% for the 1981 and 1982 year classes - a difference that primarily reflected improvements in instrumentation and tagging technique. The rate of CWT loss after the marked fish were stocked was probably less than 1% per year. The CWT is a reliable method for marking hatchery-reared lake trout. A large number of experimental groups can be uniquely marked, and fish from each group can be accurately identified throughout their life. Use of this technique should greatly facilitate evaluations of genetic strain, hatchery experience, condition at time of stocking, season of stocking, size at stocking, method of stocking and other factors that affect poststocking survival and performance of lake trout stocked in the Great Lakes.

An integrated material metabolism model for stocks of urban road system in Beijing, China.

PubMed

Guo, Zhen; Hu, Dan; Zhang, Fuhua; Huang, Guolong; Xiao, Qiang

2014-02-01

Rapid urbanization has greatly altered the urban metabolism of material and energy. As a significant part of the infrastructure, urban roads are being rapidly developed worldwide. Quantitative analysis of metabolic processes on urban road systems, especially the scale, composition and spatial distribution of their stocks, could help to assess the resource appropriation and potential environmental impacts, as well as improve urban metabolism models. In this paper, an integrated model, which covered all types of roads, intersection structures and ancillary facilities, was built for calculating the material stocks of urban road systems. Based on a bottom-up method, the total stocks were disassembled into a number of stock parts rather than obtained by input-output data, which provided an approach promoting data availability and inner structure understanding. The combination with GIS enabled the model to tackle the complex structures of road networks and avoid double counting. In the case study of Beijing, the following results are shown: 1) The total stocks for the entire road system reached 159 million tons, of which nearly 80% was stored in roads, and 20% in ancillary facilities. 2) Macadam was the largest stock (111 million tons), while stone mastic asphalt, polyurethane plastics, and atactic polypropylene accounted for smaller components of the overall system. 3) The stock per unit area of pedestrian overcrossing was higher than that of the other stock units in the entire system, and its steel stocks reached 0.49 t/m(2), which was 10 times as high as that in interchanges. 4) The high stock areas were mainly distributed in ring-shaped and radial expressways, as well as in major interchanges. 5) Expressways and arterials were excessively emphasized, while minor roads were relatively ignored. However, the variation of cross-sectional thickness in branches and neighborhood roads will have a significant impact on the scale of material stocks in the entire road system. © 2013.

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 targets.

The effect of temperature on swimming performance and oxygen consumption in adult sockeye (Oncorhynchus nerka) and coho (O. kisutch) salmon stocks.

PubMed

Lee, C G; Farrell, A P; Lotto, A; MacNutt, M J; Hinch, S G; Healey, M C

2003-09-01

Our knowledge of the swimming capabilities and metabolic rates of adult salmon, and particularly the influence of temperature on them, is extremely limited, and yet this information is critical to understanding the remarkable upstream migrations that these fish can make. To remedy this situation, we examined the effects of temperature on swimming performance and metabolic rates of 107 adult fish taken from three stocks of sockeye salmon Oncorhynchus nerka and one stock of coho salmon O. kisutch at various field and laboratory locations, using large, portable, swim tunnels. The salmon stocks were selected because of differences in their ambient water temperature (ranging from 5 degrees C to 20 degrees C) and the total distance of their in-river migrations (ranging from approximately 100 km for coastal stocks to approximately 1100 km for interior stocks). As anticipated, differences in routine metabolic rate observed among salmon stocks were largely explained by an exponential dependence on ambient water temperature. However, the relationship between water temperature and maximum oxygen consumption (MO2max), i.e. the MO2 measured at the critical swimming speed (Ucrit), revealed temperature optima for MO2max that were stock-specific. These temperature optima were very similar to the average ambient water temperatures for the natal stream of a given stock. Furthermore, at a comparable water temperature, the salmon stocks that experienced a long and energetically costly in-river migration were characterized by a higher MO2max, a higher scope for activity, a higher Ucrit and, in some cases, a higher cost of transport, relative to the coastal salmon stocks that experience a short in-river migration. We conclude that high-caliber respirometry can be performed in a field setting and that stock-specific differences in swimming performance of adult salmon may be important for understanding upstream migration energetics and abilities.

Lake trout (Salvelinus namaycush) populations in Lake Superior and their restoration in 1959-1993

USGS Publications Warehouse

Hansen, Michael J.; Peck, James W.; Schorfhaar, Richard G.; Selgeby, James H.; Schreiner, Donald R.; Schram, Stephen T.; Swanson, Bruce L.; MacCallum, Wayne R.; Burnham-Curtis, Mary K.; Curtis, Gary L.; Heinrich, John W.; Young, Robert J.

1995-01-01

Naturally-reproducing populations of lake trout (Salvelinus namaycush) have been reestablished in most of Lake Superior, but have not been restored to 1929-1943 average abundance. Progress toward lake trout restoration in Lake Superior is described, management actions are reviewed, and the effectiveness of those actions is evaluated; especially stocking lake trout as a tool for building spawning stocks, and subsequently, populations of wild recruits. Widespread destruction of lake trout stocks in the 1950s due to an intense fishery and sea lamprey (Petromyzon marinus) predation resulted in lower overall phenotypic diversity than was previously present. Stocking of yearling lake trout, begun in the 1950s, produced high densities of spawners that reproduced wherever inshore spawning habitat was widespread. Sea lampreys were greatly reduced, beginning in 1961, using selective chemical toxicants and barrier dams, but continue to exert substantial mortality. Fishery regulation was least effective in Wisconsin, where excessive gillnet effort caused high by-catch of lake trout until 1991, and in eastern Michigan, where lake trout restoration was deferred in favor of a tribal fishery for lake whitefish (Coregonus clupeaformis) in 1985. Restoration of stocks was quicker in offshore areas where remnant wild lake trout survived and fishing intensity was low, and was slower in inshore areas where stocked lake trout reproduced successfully and fishing intensity was high. Inshore stocks of wild lake trout are currently about 61 % of historic abundance in Michigan and 53% in Wisconsin. Direct comparison of modern and historic abundances of inshore lake trout stocks in Minnesota and Ontario is impossible due to lack of historic stock assessment data. Stocks in Minnesota are less abundant at present than in Michigan or Wisconsin, and stocks in Ontario are similar to those in Michigan. Further progress in stock recovery can only be achieved if sea lampreys are depressed and if fisheries are constrained further than at present.

Distribution, stock composition and timing, and tagging response of wild Chinook Salmon returning to a large, free-flowing river basin

USGS Publications Warehouse

Eiler, John H.; Masuda, Michele; Spencer, Ted R.; Driscoll, Richard J.; Schreck, Carl B.

2014-01-01

Chinook Salmon Oncorhynchus tshawytscha returns to the Yukon River basin have declined dramatically since the late 1990s, and detailed information on the spawning distribution, stock structure, and stock timing is needed to better manage the run and facilitate conservation efforts. A total of 2,860 fish were radio-tagged in the lower basin during 2002–2004 and tracked upriver. Fish traveled to spawning areas throughout the basin, ranging from several hundred to over 3,000 km from the tagging site. Similar distribution patterns were observed across years, suggesting that the major components of the run were identified. Daily and seasonal composition estimates were calculated for the component stocks. The run was dominated by two regional components comprising over 70% of the return. Substantially fewer fish returned to other areas, ranging from 2% to 9% of the return, but their collective contribution was appreciable. Most regional components consisted of several principal stocks and a number of small, spatially isolated populations. Regional and stock composition estimates were similar across years even though differences in run abundance were reported, suggesting that the differences in abundance were not related to regional or stock-specific variability. Run timing was relatively compressed compared with that in rivers in the southern portion of the species’ range. Most stocks passed through the lower river over a 6-week period, ranging in duration from 16 to 38 d. Run timing was similar for middle- and upper-basin stocks, limiting the use of timing information for management. The lower-basin stocks were primarily later-run fish. Although differences were observed, there was general agreement between our composition and timing estimates and those from other assessment projects within the basin, suggesting that the telemetry-based estimates provided a plausible approximation of the return. However, the short duration of the run, complex stock structure, and similar stock timing complicate management of Yukon River returns.

Climate influence on Baltic cod, sprat, and herring stock-recruitment relationships

NASA Astrophysics Data System (ADS)

Margonski, Piotr; Hansson, Sture; Tomczak, Maciej T.; Grzebielec, Ryszard

2010-10-01

A wide range of possible recruitment drivers were tested for key exploited fish species in the Baltic Sea Regional Advisory Council (RAC) area: Eastern Baltic Cod, Central Baltic Herring, Gulf of Riga Herring, and sprat. For each of the stocks, two hypotheses were tested: (i) recruitment is significantly related to spawning stock biomass, climatic forcing, and feeding conditions and (ii) by acknowledging these drivers, management decisions can be improved. Climate impact expressed by climatic indices or changes in water temperature was included in all the final models. Recruitment of the herring stock appeared to be influenced by different factors: the spawning stock biomass, winter Baltic Sea Index prior to spawning, and potentially the November-December sea surface temperature during the winter after spawning were important to Gulf of Riga Herring, while the final models for Central Baltic Herring included spawning stock biomass and August sea surface temperature. Recruitment of sprat appeared to be influenced by July-August temperature, but was independent of the spawning biomass when SSB > 200,000 tons. Recruitment of Eastern Baltic Cod was significantly related to spawning stock biomass, the winter North Atlantic Oscillation index, and the reproductive volume in the Gotland Basin in May. All the models including extrinsic factors significantly improved prediction ability as compared to traditional models, which account for impacts of the spawning stock biomass alone. Based on the final models the minimum spawning stock biomass to derive the associated minimum recruitment under average environmental conditions was calculated for each stock. Using uncertainty analyses, the spawning stock biomass required to produce associated minimum recruitment was presented with different probabilities considering the influence of the extrinsic drivers. This tool allows for recruitment to be predicted with a required probability, that is, higher than the average 50% estimated from the models. Further, this approach considers unfavorable environmental conditions which mean that a higher spawning stock biomass is needed to maintain recruitment at a required level.

The effect of a single or repeated period of high stocking density on the behavior and response to stimuli in broiler chickens.

PubMed

Andrews, S M; Omed, H M; Phillips, C J

1997-12-01

Broiler chickens are normally housed at a fixed number per unit area throughout their life, which reduces their opportunity for movement during the later stages of rearing. An experiment is described that exposed broilers to a high stocking density either once or twice in the rearing period, and investigated the effects on the birds' behavior, and the response to other birds and humans after the second exposure to high or low stocking density. The stocking density was increased from a low level (1.7 kg/m2) to a high level (14 kg/m2) for the 2nd and/or 4th wk of rearing, or left unchanged at the low level. When stocked at the low rate, the birds spent more time walking and sitting and less time dozing and sleeping. They pecked more at inanimate objects and interacted more with other birds, but this did not include aggressive interaction. The effects of stocking density on behavior were greater in Week 4 than in Week 2, but there was no evidence that exposure to a high stocking density in Week 2 influenced the birds' behavioral response to a high stocking density in Week 4. Where stocking density did affect behavior in both Weeks 2 and 4, there was evidence of the response being cumulative. The activity of birds in the presence of another bird restrained in an open field arena was greatest when they had been stocked at the low density throughout the experiment. When a familiar person was in the arena, the birds that had been stocked at the high density in Week 2 were most active, but these birds showed the longest tonic immobility when inverted in a cradle. It is concluded that a high stocking density reduces activity in broiler chickens, and that birds stocked at a high density early in the rearing period are most active in the presence of people and show the longest tonic immobility in response to a fearful stimulus.

Population regulation in Gyrodactylus salaris - Atlantic salmon (Salmo salar L.) interactions: testing the paradigm.

PubMed

Ramírez, Raúl; Bakke, Tor A; Harris, Philip D

2015-07-25

Gyrodactylus salaris is a directly transmitted ectoparasite that reproduces in situ on its fish host. Wild Norwegian (East Atlantic) salmon stocks are thought to be especially susceptible to the parasite due to lack of co-adaptation, contrary to Baltic salmon stocks. This study i) identifies whether time- and density-dependent mechanisms in gyrodactylid population growth exist in G. salaris-Atlantic salmon interactions and ii) based on differences between Norwegian and Baltic stocks, determines whether the 'Atlantic susceptible, Baltic resistant' paradigm holds as an example of local adaptation. A total of 18 datasets of G. salaris population growth on individually isolated Atlantic salmon (12 different stocks) infected with three parasite strains were re-analysed using a Bayesian approach. Datasets included over 2000 observations of 388 individual fish. The best fitting model of population growth was time-limited; parasite population growth rate declined consistently from the beginning of infection. We found no evidence of exponential population growth in any dataset. In some stocks, a density dependence in the size of the initial inoculum limited the maximum rate of parasite population growth. There is no evidence to support the hypothesis that all Norwegian and Scottish Atlantic salmon stocks are equally susceptible to G. salaris, while Baltic stocks control and limit infections due to co-evolution. Northern and Western Norwegian as well as the Scottish Shin stocks, support higher initial parasite population growth rates than Baltic, South-eastern Norwegian, or the Scottish Conon stocks, and several Norwegian stocks tested (Akerselva, Altaelva, Lierelva, Numedalslågen), and the Scottish stocks (i.e. Conon, Shin), were able to limit infections after 40-50 days. No significant differences in performance of the three parasite strains (Batnfjordselva, Figga, and Lierelva), or the two parasite mitochondrial haplotypes (A and F) were observed. Our study shows a spectrum of growth rates, with some fish of the South-eastern Norwegian stocks sustaining parasite population growth rates overlapping those seen on Baltic Neva and Indalsälv stocks. This observation is inconsistent with the 'Baltic-resistant, Atlantic-susceptible' hypothesis, but suggests heterogeneity, perhaps linked to other host resistance genes driven by selection for local disease syndromes.

75 FR 42378 - Fisheries of the South Atlantic; Southeast Data, Assessment, and Review (SEDAR); South Atlantic...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-21

... (SEDAR) process, a multi-step method for determining the status of fish stocks in the Southeast Region. SEDAR includes a Data Workshop, a Stock Assessment Process and a Review Workshop. The product of the... datasets are appropriate for assessment analyses. The product of the Stock Assessment Process is a stock...

26 CFR 1.423-2 - Employee stock purchase plan defined.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 26 Internal Revenue 5 2011-04-01 2011-04-01 false Employee stock purchase plan defined. 1.423-2 Section 1.423-2 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Certain Stock Options § 1.423-2 Employee stock purchase plan defined. (a) In general—(1) The term ...

Production and assessment of red alder planting stock.

Treesearch

M.A. Radwan; Y. Tanaka; A. Dobkowskl; W. Fangen

1992-01-01

A series of experiments was conducted over 4 years to test and develop methods to produce acceptable red alder planting stock and to assess quality and outplanting performance of resulting stock. Results indicated that red alder planting stock can be produced as containerized seedlings (plugs) or as bare-root nontransplant and transplant trees. In general, bare-root...

26 CFR 1.423-2 - Employee stock purchase plan defined.

Code of Federal Regulations, 2010 CFR

2010-04-01

... employee owns stock possessing 5 percent or more of the total combined voting power or value of all classes... granted, owns stock possessing 5 percent or more of the total combined voting power or value of all... the percentage of the total combined voting power or value of all classes of stock of the employer...

78 FR 16551 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-03-15

...-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the New York Stock Exchange LLC Price List To Increase the Gross FOCUS Fee... Rule 19b-4 thereunder,\\2\\ notice is hereby given that, on February 26, 2013, New York Stock Exchange...

26 CFR 1.304-3 - Acquisition by a subsidiary.

Code of Federal Regulations, 2010 CFR

2010-04-01

... amount of the selling price of the stock shall be treated as a dividend to the seller to the extent of... illustrated by the following example: Example. Corporation M has outstanding 100 shares of common stock which.... Corporation M owns the stock of Corporation X. B sells his 75 shares of Corporation M stock to Corporation X...

26 CFR 53.4942(a)-2 - Computation of undistributed income.

Code of Federal Regulations, 2012 CFR

2012-04-01

... is within a larger complex of endeavors which makes available to the scientific community and the... shares of the stock of M Corporation. M stock is regularly traded on the New York Stock Exchange. U consistently follows a practice of valuing its 1,000 shares of M stock on the last trading day of each month...

26 CFR 53.4942(a)-2 - Computation of undistributed income.

Code of Federal Regulations, 2014 CFR

2014-04-01

... is within a larger complex of endeavors which makes available to the scientific community and the... shares of the stock of M Corporation. M stock is regularly traded on the New York Stock Exchange. U consistently follows a practice of valuing its 1,000 shares of M stock on the last trading day of each month...

26 CFR 53.4942(a)-2 - Computation of undistributed income.

Code of Federal Regulations, 2013 CFR

2013-04-01

... is within a larger complex of endeavors which makes available to the scientific community and the... shares of the stock of M Corporation. M stock is regularly traded on the New York Stock Exchange. U consistently follows a practice of valuing its 1,000 shares of M stock on the last trading day of each month...

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 plan...

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 may...

Stocking equations for regeneration in mixed oak stands

Treesearch

Songlin Fei; Kim C. Steiner; James C. Finley

2007-01-01

Regeneration stocking equations for mixed-oak stands were developed based on data collected from nearly 14,000 plots in the central Appalachians. Maximum stand density was identified by plotting aggregate height against number of seedlings per plot, and was used as the reference level of the average maximum stand density (100 percent stocking or A-level stocking)....

26 CFR 1.1244(c)-2 - Small business corporation defined.

Code of Federal Regulations, 2013 CFR

2013-04-01

... sustained on post-November 1978 stock. The requirements of paragraph (c) of this section apply if a loss is sustained on pre-November 1978 stock. If losses are sustained on both pre-November 1978 stock and post... of a loss on post-November 1978 stock) in order to determine whether the loss on post-November 1978...

26 CFR 1.1244(c)-2 - Small business corporation defined.

Code of Federal Regulations, 2010 CFR

2010-04-01

... post-November 1978 stock. The requirements of paragraph (c) of this section apply if a loss is sustained on pre-November 1978 stock. If losses are sustained on both pre-November 1978 stock and post... of a loss on post-November 1978 stock) in order to determine whether the loss on post-November 1978...

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

Code of Federal Regulations, 2014 CFR

2014-04-01

... November 6, 1978. (2) The term post-November 1978 stock means stock issued after November 6, 1978. In order... evidenced by a security, or arises out of the performance of personal services. (2) The following examples... subparagraph (1) of this paragraph: Example 1. A taxpayer owns stock of Corporation X issued to him prior to...

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

Code of Federal Regulations, 2011 CFR

2011-04-01

... November 6, 1978. (2) The term post-November 1978 stock means stock issued after November 6, 1978. In order... evidenced by a security, or arises out of the performance of personal services. (2) The following examples... subparagraph (1) of this paragraph: Example 1. A taxpayer owns stock of Corporation X issued to him prior to...

76 FR 74088 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing Proposed...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... rights and warrants are affected by the price of the underlying stock as well as other factors, particularly the volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights and warrants (and the underlying...

76 FR 74080 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... predetermined prices subject to various timing and other conditions. Like options, the price of rights and... volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights and warrants (and the underlying stock) are...

12 CFR 333.4 - Conversions from mutual to stock form.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Conversions from mutual to stock form. 333.4... GENERAL POLICY EXTENSION OF CORPORATE POWERS Regulations § 333.4 Conversions from mutual to stock form. (a) Scope. This section applies to the conversion of insured mutual state savings banks to the stock form of...

76 FR 77883 - Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-12-14

...-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed... that on November 28, 2011, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'') filed with the... equities business on the NASDAQ Stock Market LLC are not subject to the fees in Rule 7003(b...

Suggested stocking levels for forest stands in northeastern Oregon and southeastern Washington.

Treesearch

P.H. Cochran; J.M. Geist; D.L. Clemens; Rodrick R. Clausnitzer; David C. Powell

1993-01-01

Catastrophes and manipulation of stocking levels are important determinants of stand development and the appearance of future forest landscapes. Managers need stocking level guides, particularly for sites incapable of supporting stocking levels presented in normal yield tables. Growth basal area (GBA) has been used by some managers in attempts to assess inherent...

26 CFR 1.1248-8 - Earnings and profits attributable to stock following certain non-recognition transactions.

Code of Federal Regulations, 2011 CFR

2011-04-01

... of this section. (5) Reduction in earnings and profits attributable to stock to prevent multiple... reduce the CFC3 earnings and profits attributable to its CFC2 stock by $9. These reductions occur without... 26 Internal Revenue 11 2011-04-01 2011-04-01 false Earnings and profits attributable to stock...

26 CFR 1.1244(a)-1 - Loss on small business stock treated as ordinary loss.

Code of Federal Regulations, 2010 CFR

2010-04-01

... transaction treated as a sale or exchange, such as worthlessness) of section 1244 stock which would otherwise... other hand, stock purchased by an investment firm and subsequently resold does not qualify as section... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Loss on small business stock treated as ordinary...

76 FR 51082 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-17

...., International Securities Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC... include all remaining National Market System (``NMS'') stocks (``Phase III Securities'').\\9\\ The new pilot... executions, so that the rule will continue to operate in the same manner after changes to the single stock...

76 FR 51084 - Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-17

... process during periods of extraordinary market volatility as a pilot in S&P 500[supreg] Index stocks... Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC, NYSE Arca, Inc... Exchanges and FINRA to include all remaining National Market System (``NMS'') stocks (``Phase III Securities...

76 FR 51103 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-17

... during periods of extraordinary market volatility as a pilot in S&P 500[supreg] Index stocks (``Pause... Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC, NYSE Arca, Inc... Exchanges and FINRA to include all remaining National Market System (``NMS'') stocks (``Phase III Securities...

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

Code of Federal Regulations, 2010 CFR

2010-04-01

... 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 Exchanges SECURITIES AND EXCHANGE COMMISSION (CONTINUED) GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934...

26 CFR 1.1242-1 - Losses on small business investment company stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Losses on small business investment company....1242-1 Losses on small business investment company stock. (a) In general. Any taxpayer who sustains a... the sale or exchange, of the stock of a small business investment company (whether or not such stock...

76 FR 10418 - Self-Regulatory Organizations; NASDAQ Stock Market, LLC; Notice of Filing of Proposed Rule Change...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-02-24

...-Regulatory Organizations; NASDAQ Stock Market, LLC; Notice of Filing of Proposed Rule Change To Amend The..., 2011, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'') filed with the Securities and Exchange... The NASDAQ Stock Market LLC proposes to amend the By-Laws of its parent corporation, The NASDAQ OMX...

26 CFR 1.597-5 - Taxable Transfers.

Code of Federal Regulations, 2010 CFR

2010-04-01

... pursuant to an election under § 1.597-4(g)); or (iii) Issues stock such that the stock that was outstanding...) Basis limited to fair market value. If all of the stock of the corporation is not acquired on the date... acquisitions are provided in paragraph (e) of this section. (b) Deemed asset acquisitions upon stock purchase...

77 FR 57625 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-09-18

... its common stock listed on a foreign market and list some other type of security on the Exchange, such...-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change Amending... 30, 2012, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and...

26 CFR 1.1092(c)-1 - Qualified covered calls.

Code of Federal Regulations, 2010 CFR

2010-04-01

... lowest qualified benchmark is determined using the adjusted applicable stock price, as defined in § 1... (CONTINUED) INCOME TAXES Wash Sales of Stock Or Securities § 1.1092(c)-1 Qualified covered calls. (a) In.... Under section 1092(d)(3)(B)(i)(I), stock is personal property if the stock is part of a straddle that...

A Stocking Guide for Allegheny Hardwoods and Its Use in Controlling Intermediate Cuttings

Treesearch

Benjamin A. Roach

1977-01-01

A stocking guide for stands of Allegheny hardwoods (sugar maple or sugar maple-beech with varying admixtures of black cherry, red maple, white ash, sweet birch, and other species) on the Allegheny Plateau in northwestern Pennsylvania. Included are procedures for evaluating stocking and stand conditions, thinning even-aged stands, determining minimum residual stocking,...

Stocking guidelines for the endemic Hawaiian hardwood, Acacia koa

Treesearch

P. J. Baker; P. G. Scowcroft

2005-01-01

Stocking relationships are an important tool for foresters because they provide a means for evaluating how effectively the trees in a stand use available growing space. While stocking guidelines are not available for many tropical tree species, readily obtained measurements of stem and crown diameters can be used to develop preliminary stocking guidelines for most tree...

26 CFR 1.1502-34 - Special aggregate stock ownership rules.

Code of Federal Regulations, 2010 CFR

2010-04-01

... stock ownership of a member of a group in another corporation (the “issuing corporation”) for purposes... in the issuing corporation. Thus, assume that members A, B, and C each own 331/3 percent of the stock... 26 Internal Revenue 12 2010-04-01 2010-04-01 false Special aggregate stock ownership rules. 1.1502...

76 FR 74111 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... that CBSX is not currently the primary listing market for any stocks, and thus, will not be issuing any... Effectiveness of Proposed Rule Change Related to the Individual Stock Trading Pause Pilot Program November 23... Change The Exchange is proposing to amend CBOE Stock Exchange, LLC's (``CBSX'', the CBOE's stock trading...

Beta Coefficient and Market Share: Downloading and Processing Data from DIALOG to LOTUS 1-2-3.

ERIC Educational Resources Information Center

Popovich, Charles J.

This article briefly describes the topics "beta coefficient"--a measurement of the price volatility of a company's stock in relationship to the overall stock market--and "market share"--an average measurement for the overall stock market based on a specified group of stocks. It then selectively recommends a database (file) on…

12 CFR 7.1015 - Receipt of stock from a small business investment company.

Code of Federal Regulations, 2011 CFR

2011-01-01

... 12 Banks and Banking 1 2011-01-01 2011-01-01 false Receipt of stock from a small business... TREASURY BANK ACTIVITIES AND OPERATIONS Bank Powers § 7.1015 Receipt of stock from a small business investment company. A national bank may purchase the stock of a small business investment company (SBIC) (see...

17 CFR 230.136 - Definition of certain terms in relation to assessable stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... relation to assessable stock. 230.136 Section 230.136 Commodity and Securities Exchanges SECURITIES AND... certain terms in relation to assessable stock. (a) An offer, offer to sell, or offer for sale of... shall not be deemed to include the offering or sale of assessable stock, at public auction or otherwise...

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

Code of Federal Regulations, 2011 CFR

2011-01-01

... stock issued pursuant to this section that the price, price range or any other pricing information... stock issuance pursuant to this section, no person shall transfer, or enter into any agreement or understanding to transfer, the legal or beneficial ownership of the stock to be issued to any other person. (5...

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

Code of Federal Regulations, 2010 CFR

2010-01-01

... stock issued pursuant to this section that the price, price range or any other pricing information... stock issuance pursuant to this section, no person shall transfer, or enter into any agreement or understanding to transfer, the legal or beneficial ownership of the stock to be issued to any other person. (5...

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 may...

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 plan...

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.

26 CFR 1.355-6 - Recognition of gain on certain distributions of stock or securities in controlled corporation.

Code of Federal Regulations, 2010 CFR

2010-04-01

..., unless otherwise stated, assume that P, S, T, X, Y, N, HC, D, D1, D2, D3, and C are corporations, A and B... and D2, D1 and D2 each owns 50 percent of the stock of D3, and D3 owns all of the stock of C. Within... the stock of D1, D2, D3, and C on the date A purchases the T stock under the attribution rules of...

Rational GARCH model: An empirical test for stock returns

NASA Astrophysics Data System (ADS)

Takaishi, Tetsuya

2017-05-01

We propose a new ARCH-type model that uses a rational function to capture the asymmetric response of volatility to returns, known as the "leverage effect". Using 10 individual stocks on the Tokyo Stock Exchange and two stock indices, we compare the new model with several other asymmetric ARCH-type models. We find that according to the deviance information criterion, the new model ranks first for several stocks. Results show that the proposed new model can be used as an alternative asymmetric ARCH-type model in empirical applications.

Complexity in the Chinese stock market and its relationships with monetary policy intensity

NASA Astrophysics Data System (ADS)

Ying, Shangjun; Fan, Ying

2014-01-01

This paper introduces how to formulate the CSI300 evolving stock index using the Paasche compiling technique of weighed indexes after giving the GCA model. It studies dynamics characteristics of the Chinese stock market and its relationships with monetary policy intensity, based on the evolving stock index. It concludes by saying that it is possible to construct a dynamics equation of the Chinese stock market using three variables, and that it is useless to regular market-complexity according to changing intensity of external factors from a chaos point of view.

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.

Stocking Density Optimization for Enhanced Bioconversion of Fly Ash Enriched Vermicompost.

PubMed

Mupambwa, Hupenyu A; Mnkeni, Pearson N S

2016-05-01

Although it is widely agreed that stocking density critically affects the rate of vermicomposting, there is no established stocking density for mixtures of fly ash and other waste materials. This study sought to optimize (Savigny, 1826) stocking density for effective biodegradation and nutrient release in a fly ash-cow dung-waste paper (FCP) mixture. Four stocking densities of 0, 12.5, 25, and 37.5 g worms kg were evaluated. Although the 12.5, 25, and 37.5 g worms kg treatments all resulted in a mature vermicompost, stocking densities of 25 and 37.5 g worms kg resulted in faster maturity, higher humification parameters, and a significantly lower final C/N ratio (range 11.1-10.4). The activity of β-glucosidase and fluorescein diacetate hydrolysis enzymes showed faster stabilization at stocking densities of 25 and 37.5 g worms kg, indicating compost stability and maturity. Similarly, a stocking density of 25 g worms kg resulted in the highest release of Olsen-extractable P and (NO + NO)-N contents. The 0-, 12.5-, 25-, and 37.5-g treatments resulted in net Olsen P increases of 16.3, 38.9, 61.0, and 53.0%, respectively, after 10 wk. Although compost maturity could be attained at stocking densities of 12.5 g worms kg, for faster production of humified and nutrient-rich FCP vermicompost, a stocking density of 25 g worms kg seems most appropriate. Copyright © by the American Society of Agronomy, Crop Science Society of America, and Soil Science Society of America, Inc.

Genetic diversity analysis in Malaysian giant prawns using expressed sequence tag microsatellite markers for stock improvement program.

PubMed

Atin, K H; Christianus, A; Fatin, N; Lutas, A C; Shabanimofrad, M; Subha, B

2017-08-17

The Malaysian giant prawn is among the most commonly cultured species of the genus Macrobrachium. Stocks of giant prawns from four rivers in Peninsular Malaysia have been used for aquaculture over the past 25 years, which has led to repeated harvesting, restocking, and transplantation between rivers. Consequently, a stock improvement program is now important to avoid the depletion of wild stocks and the loss of genetic diversity. However, the success of such an improvement program depends on our knowledge of the genetic variation of these base populations. The aim of the current study was to estimate genetic variation and differentiation of these riverine sources using novel expressed sequence tag-microsatellite (EST-SSR) markers, which not only are informative on genetic diversity but also provide information on immune and metabolic traits. Our findings indicated that the tested stocks have inbreeding depression due to a significant deficiency in heterozygotes, and F IS was estimated as 0.15538 to 0.31938. An F-statistics analysis suggested that the stocks are composed of one large panmictic population. Among the four locations, stocks from Johor, in the southern region of the peninsular, showed higher allelic and genetic diversity than the other stocks. To overcome inbreeding problems, the Johor population could be used as a base population in a stock improvement program by crossing to the other populations. The study demonstrated that EST-SSR markers can be incorporated in future marker assisted breeding to aid the proper management of the stocks by breeders and stakeholders in Malaysia.

Accounting for escape mortality in fisheries: implications for stock productivity and optimal management.

PubMed

Baker, Matthew R; Schindler, Daniel E; Essington, Timothy E; Hilborn, Ray

2014-01-01

Few studies have considered the management implications of mortality to target fish stocks caused by non-retention in commercial harvest gear (escape mortality). We demonstrate the magnitude of this previously unquantified source of mortality and its implications for the population dynamics of exploited stocks, biological metrics, stock productivity, and optimal management. Non-retention in commercial gillnet fisheries for Pacific salmon (Oncorhynchus spp.) is common and often leads to delayed mortality in spawning populations. This represents losses, not only to fishery harvest, but also in future recruitment to exploited stocks. We estimated incidence of non-retention in Alaskan gillnet fisheries for sockeye salmon (O. nerka) and found disentanglement injuries to be extensive and highly variable between years. Injuries related to non-retention were noted in all spawning populations, and incidence of injury ranged from 6% to 44% of escaped salmon across nine river systems over five years. We also demonstrate that non-retention rates strongly correlate with fishing effort. We applied maximum likelihood and Bayesian approaches to stock-recruitment analyses, discounting estimates of spawning salmon to account for fishery-related mortality in escaped fish. Discounting spawning stock estimates as a function of annual fishing effort improved model fits to historical stock-recruitment data in most modeled systems. This suggests the productivity of exploited stocks has been systematically underestimated. It also suggests that indices of fishing effort may be used to predict escape mortality and correct for losses. Our results illustrate how explicitly accounting for collateral effects of fishery extraction may improve estimates of productivity and better inform management metrics derived from estimates of stock-recruitment analyses.

The role of composition, invasives, and maintenance emissions on urban forest carbon stocks.

PubMed

Horn, Josh; Escobedo, Francisco J; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

2015-02-01

There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20% of all the trees measured; 60% of carbon stocks and over 75% of net C sequestration. Palms contributed to less than 1% of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90% of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1% of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

Carbon stocks of tropical coastal wetlands within the karstic landscape of the Mexican Caribbean.

PubMed

Adame, Maria Fernanda; Kauffman, J Boone; Medina, Israel; Gamboa, Julieta N; Torres, Olmo; Caamal, Juan P; Reza, Miriam; Herrera-Silveira, Jorge A

2013-01-01

Coastal wetlands can have exceptionally large carbon (C) stocks and their protection and restoration would constitute an effective mitigation strategy to climate change. Inclusion of coastal ecosystems in mitigation strategies requires quantification of carbon stocks in order to calculate emissions or sequestration through time. In this study, we quantified the ecosystem C stocks of coastal wetlands of the Sian Ka'an Biosphere Reserve (SKBR) in the Yucatan Peninsula, Mexico. We stratified the SKBR into different vegetation types (tall, medium and dwarf mangroves, and marshes), and examined relationships of environmental variables with C stocks. At nine sites within SKBR, we quantified ecosystem C stocks through measurement of above and belowground biomass, downed wood, and soil C. Additionally, we measured nitrogen (N) and phosphorus (P) from the soil and interstitial salinity. Tall mangroves had the highest C stocks (987±338 Mg ha(-1)) followed by medium mangroves (623±41 Mg ha(-1)), dwarf mangroves (381±52 Mg ha(-1)) and marshes (177±73 Mg ha(-1)). At all sites, soil C comprised the majority of the ecosystem C stocks (78-99%). Highest C stocks were measured in soils that were relatively low in salinity, high in P and low in N∶P, suggesting that P limits C sequestration and accumulation potential. In this karstic area, coastal wetlands, especially mangroves, are important C stocks. At the landscape scale, the coastal wetlands of Sian Ka'an covering ≈172,176 ha may store 43.2 to 58.0 million Mg of C.

Global socioeconomic carbon stocks in long-lived products 1900-2008

NASA Astrophysics Data System (ADS)

Lauk, Christian; Haberl, Helmut; Erb, Karl-Heinz; Gingrich, Simone; Krausmann, Fridolin

2012-09-01

A better understanding of the global carbon cycle as well as of climate change mitigation options such as carbon sequestration requires the quantification of natural and socioeconomic stocks and flows of carbon. A so-far under-researched aspect of the global carbon budget is the accumulation of carbon in long-lived products such as buildings and furniture. We present a comprehensive assessment of global socioeconomic carbon stocks and the corresponding in- and outflows during the period 1900-2008. These data allowed calculation of the annual carbon sink in socioeconomic stocks during this period. The study covers the most important socioeconomic carbon fractions, i.e. wood, bitumen, plastic and cereals. Our assessment was mainly based on production and consumption data for plastic, bitumen and wood products and the respective fractions remaining in stocks in any given year. Global socioeconomic carbon stocks were 2.3 GtC in 1900 and increased to 11.5 GtC in 2008. The share of wood in total C stocks fell from 97% in 1900 to 60% in 2008, while the shares of plastic and bitumen increased to 16% and 22%, respectively. The rate of gross carbon sequestration in socioeconomic stocks increased from 17 MtC yr-1 in 1900 to a maximum of 247 MtC yr-1 in 2007, corresponding to 2.2%-3.4% of global fossil-fuel-related carbon emissions. We conclude that while socioeconomic carbon stocks are not negligible, their growth over time is not a major climate change mitigation option and there is an only modest potential to mitigate climate change by the increase of socioeconomic carbon stocks.

The Role of Composition, Invasives, and Maintenance Emissions on Urban Forest Carbon Stocks

NASA Astrophysics Data System (ADS)

Horn, Josh; Escobedo, Francisco J.; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

2015-02-01

There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20 % of all the trees measured; 60 % of carbon stocks and over 75 % of net C sequestration. Palms contributed to less than 1 % of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90 % of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1 % of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

Causes of declining survival of lake trout stocked in U.S. waters of Lake Superior in 1963-1986

USGS Publications Warehouse

Hansen, Michael J.; Ebener, Mark P.; Schorfhaar, Richard G.; Schram, Stephen T.; Schreiner, Donald R.; Selgeby, James H.; Taylor, William W.

1996-01-01

Survival of the 1963-1982 year-classes of stocked yearling lake trout Salvelinus namaycush declined significantly over time in Lake Superior. To investigate possible causes of this decline, a Ricker model of stock-recruitment was used to describe the catch per effort (CPE) of age-7 stocked lake trout in the Michigan, Minnesota, and Wisconsin waters of Lake Superior as functions of the numbers of yearlings stocked 6 years earlier (an index of density dependence), the density (CPE) of wild adult lake trout (an index of predation), and large-mesh (a?Y 114-mm stretch-measure) gill-net fishing effort (an index of fishing mortality). Declining CPE of stocked lake trout in Michigan and Wisconsin was significantly associated with increasing large-mesh gillnet fishing effort. Declining CPE of stocked lake trout in Minnesota was significantly associated with increasing density of wild lake trout. Declining survival of stocked lake trout may therefore have been caused by increased mortality in large-mesh gill-net fisheries in Michigan and Wisconsin, and by predation by wild lake trout that recently recolonized the Minnesota area. We recommend that experimental management be pursued to determine the relative importance of large-mesh gillnet fishing effort and of predation by wild lake trout on the survival of stocked lake trout in U.S. waters of Lake Superior.

Evaluation of removal of the size effect using data scaling and elliptic Fourier descriptors in otolith shape analysis, exemplified by the discrimination of two yellow croaker stocks along the Chinese coast

NASA Astrophysics Data System (ADS)

Zhao, Bo; Liu, Jinhu; Song, Junjie; Cao, Liang; Dou, Shuozeng

2017-11-01

Removal of the length effect in otolith shape analysis for stock identification using length scaling is an important issue; however, few studies have attempted to investigate the effectiveness or weakness of this methodology in application. The aim of this study was to evaluate whether commonly used size scaling methods and normalized elliptic Fourier descriptors (NEFDs) could effectively remove the size effect of fish in stock discrimination. To achieve this goal, length groups from two known geographical stocks of yellow croaker, Larimichthys polyactis, along the Chinese coast (five groups from the Changjiang River estuary of the East China Sea and three groups from the Bohai Sea) were subjected to otolith shape analysis. The results indicated that the variation of otolith shape caused by intra-stock fish length might exceed that due to inter-stock geographical separation, even when otolith shape variables are standardized with length scaling methods. This variation could easily result in misleading stock discrimination through otolith shape analysis. Therefore, conclusions about fish stock structure should be carefully drawn from otolith shape analysis because the observed discrimination may primarily be due to length effects, rather than differences among stocks. The application of multiple methods, such as otoliths shape analysis combined with elemental fingering, tagging or genetic analysis, is recommended for sock identification.

Predicting the Direction of Stock Market Index Movement Using an Optimized Artificial Neural Network Model.

PubMed

Qiu, Mingyue; Song, Yu

2016-01-01

In the business sector, it has always been a difficult task to predict the exact daily price of the stock market index; hence, there is a great deal of research being conducted regarding the prediction of the direction of stock price index movement. Many factors such as political events, general economic conditions, and traders' expectations may have an influence on the stock market index. There are numerous research studies that use similar indicators to forecast the direction of the stock market index. In this study, we compare two basic types of input variables to predict the direction of the daily stock market index. The main contribution of this study is the ability to predict the direction of the next day's price of the Japanese stock market index by using an optimized artificial neural network (ANN) model. To improve the prediction accuracy of the trend of the stock market index in the future, we optimize the ANN model using genetic algorithms (GA). We demonstrate and verify the predictability of stock price direction by using the hybrid GA-ANN model and then compare the performance with prior studies. Empirical results show that the Type 2 input variables can generate a higher forecast accuracy and that it is possible to enhance the performance of the optimized ANN model by selecting input variables appropriately.

Mapping the Sensitivity of the Public Emotion to the Movement of STOCK Market Value: a Case Study of Manhattan

NASA Astrophysics Data System (ADS)

Kang, Y.; Wang, J.; Wang, Y.; Angsuesser, S.; Fei, T.

2017-09-01

We examined whether emotion expressed by users in social media can be influenced by stock market index or can predict the fluctuation of the stock market index. We collected the emotion data by using face detection technology and emotion cognition services for photos uploaded to Flickr. Each face's emotion was described in 8 dimensions the location was also recorded. An emotion score index was defined based on the combination of all 8 dimensions of emotion calculated by principal component analysis. The correlation coefficients between the stock market values and emotion scores are significant (R > 0.59 with p < 0.01). Using Granger Causality analysis for cause and effect detection, we found that users' emotion is influenced by stock market value change. A multiple linear regression model was established (R-square = 0.76) to explore the potential factors that influence the emotion score. Finally, a sensitivity map was created to show sensitive areas where human emotion is easily affected by the stock market changes. We concluded that in Manhattan region: (1) there is an obvious relationship between human emotion and stock market fluctuation; (2) emotion change follows the movements of the stock market; (3) the Times Square and Broadway Theatre are the most sensitive regions in terms of public emotional reaction to the economy represented by stock value.

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.

Predicting the Direction of Stock Market Index Movement Using an Optimized Artificial Neural Network Model

PubMed Central

Qiu, Mingyue; Song, Yu

2016-01-01

In the business sector, it has always been a difficult task to predict the exact daily price of the stock market index; hence, there is a great deal of research being conducted regarding the prediction of the direction of stock price index movement. Many factors such as political events, general economic conditions, and traders’ expectations may have an influence on the stock market index. There are numerous research studies that use similar indicators to forecast the direction of the stock market index. In this study, we compare two basic types of input variables to predict the direction of the daily stock market index. The main contribution of this study is the ability to predict the direction of the next day’s price of the Japanese stock market index by using an optimized artificial neural network (ANN) model. To improve the prediction accuracy of the trend of the stock market index in the future, we optimize the ANN model using genetic algorithms (GA). We demonstrate and verify the predictability of stock price direction by using the hybrid GA-ANN model and then compare the performance with prior studies. Empirical results show that the Type 2 input variables can generate a higher forecast accuracy and that it is possible to enhance the performance of the optimized ANN model by selecting input variables appropriately. PMID:27196055

26 CFR 1.58-8 - Capital gains and stock options.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 1 2010-04-01 2010-04-01 true Capital gains and stock options. 1.58-8 Section 1... Tax Preference Regulations § 1.58-8 Capital gains and stock options. (a) In general. Section 58(g)(2) provides that the items of tax preference specified in section 57(a)(6), and § 1.57-1(b) (stock options...

Levels-of-growing-stock cooperative study in Douglas-fir: report no. 15—The Hoskins Study, 1963-1998.

Treesearch

David D. Marshall; Robert O. Curtis

2001-01-01

The cooperative levels-of-growing-stock (LOGS) study in Douglas-fir (Pseudotsuga menziesii (Mirb.) Franco) was begun to study the relations between growing stock, growth, cumulative wood production, and tree size in repeatedly thinned stands. This report summarizes results from the Hoskins installation through age 55. Growing stock has been allowed...

26 CFR 1.1091-1 - Losses from wash sales of stock or securities.

Code of Federal Regulations, 2010 CFR

2010-04-01

... particular shares of stock or securities the loss from the sale or other disposition of which is not...-day period, A purchased 75 shares of substantially identical stock, the loss on the sale of 75 of the... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Losses from wash sales of stock or securities. 1...

Determining stocking, forest type and stand-size class from forest inventory data

Treesearch

Mark H. Hansen; Jerold T. Hahn

1992-01-01

This paper describes the procedures used by North Central Forest Experiment Station's Forest Inventory and Analysis Work Unit (NCFIA) in determining stocking, forest type, and stand-size class. The stocking procedure assigns a portion of the stocking to individual trees measured on NCFIA 10-point field plots. Stand size and forest type are determined as functions...

The zero inflation of standing dead tree carbon stocks

Treesearch

Christopher W. Woodall; David W. MacFarlane

2012-01-01

Given the importance of standing dead trees in numerous forest ecosystem attributes/processes such as carbon (C) stocks, the USDA Forest Service’s Forest Inventory and Analysis (FIA) program began consistent nationwide sampling of standing dead trees in 1999. Modeled estimates of standing dead tree C stocks are currently used as the official C stock estimates for the...

76 FR 74084 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-30

... price of rights and warrants are affected by the price of the underlying stock as well as other factors, particularly the volatility of the stock. As a consequence, the prices of rights and warrants may move more dramatically than the prices of the underlying stocks even when the rights and warrants (and the underlying...

Use of hardwood dimension stock by the southern furniture industry

Treesearch

R. Bruce Anderson; Paul E. Sendak; Paul E. Sendak

1972-01-01

To help the manufacturer of dimension stock supply this market effectively and profitably, we have made a study of the southern furniture industry. We concluded that the independent manufacturer of dimension stock may find it hard to increase his share of this market in the future, because most furniture plants are now making much of their own dimension stock.

78 FR 23284 - Marine Mammal Protection Act; Draft Revised Stock Assessment Reports for the Pacific Walrus and...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-04-18

.... We now make the SARs available for public review and comment. DATES: Comments must be received by... NMFS to review the SARs (a) At least annually for stocks that are specified as strategic stocks, (b) at... determined. SARs for the Southwest, Southcentral, and Southeast stocks of northern sea otters were last...

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

ERIC Educational Resources Information Center

Pahl, Ronald H.

1992-01-01

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

76 FR 51108 - Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-17

...., International Securities Exchange LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE Amex LLC... Amend the Clearly Erroneous Rule in Light of Changes to the Single Stock Trading Pause Process August 11... continue to operate in the same manner after changes to the single stock trading pause process are...

12 CFR 7.1015 - Receipt of stock from a small business investment company.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 15 U.S.C. 682(b)), and may receive the benefits of such stock ownership (e.g., stock dividends). The... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Receipt of stock from a small business investment company. 7.1015 Section 7.1015 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE...

National inventories of down and dead woody material forest carbon stocks in the United States: Challenges and opportunities

Treesearch

C.W. Woodall; L.S. Heath; J.E. Smith

2008-01-01

Concerns over the effect of greenhouse gases and consequent international agreements and regional/national programs have spurred the need for comprehensive assessments of forest ecosystem carbon stocks. Down and dead woody (DDW) materials are a substantial component of forest carbon stocks; however, few surveys of DDW carbon stocks have been conducted at national-...

76 FR 5848 - Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-02-02

... component is the underlying stock or ETF to the functionality on its electronic trading platform for options... or sell a stated number of units of an underlying stock or ETF coupled with the purchase or sale of... underlying stock or Exchange Traded Fund Share (``ETF'') is also referred to as a stock-option order. 2...

75 FR 39065 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-07

... ETF but not in the stocks that underlie that ETF, what consequences might that have for the underlying stocks or other products? What are the potential effects on price discovery for the ETF, the underlying... Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule Change To Amend the List of...

75 FR 39063 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of a Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-07

... products based on that index? If there are trading pauses in an ETF but not in the stocks that underlie that ETF, what consequences might that have for the underlying stocks or other products? What are the potential effects on price discovery for the ETF, the underlying stocks and other products? Are there other...

Avian and amphibian use of fenced and unfenced stock ponds in northeastern Oregon forests.

Treesearch

Evelyn L. Bull; Jerry W. Deal; Janet E. Hohmann

2001-01-01

The abundance of birds and amphibian larvae was compared between fenced and unfenced stock ponds in 1993 to determine if fencing improved the habitat for these species in northeastern Oregon. Stock ponds that were fenced had significantly higher densities of bird species, guilds, and taxonomic groups than stock ponds that were unfenced. No differences in the relative...

Stocking, growth, and yield of oak stands

Treesearch

Samuel F. Gingrich

1971-01-01

An appraisal of stocking in even-aged upland oak stands is a prerequisite for determining the cultural needs of a given stand. Most oak stands have sufficient stocking to utilize the site, but are deficient in high-quality trees. Thinning such stands offers a good opportunity to upgrade the relative quality of the growing stock and enhance the growth and yield...

26 CFR 1.83-5 - Restrictions that will never lapse.

Code of Federal Regulations, 2010 CFR

2010-04-01

... than the current book value of the stock for purposes of determining the fair market value of the stock... example, where the price to be paid for the stock subject to the right of first refusal is the fair market..., the fair market value of the X stock is includible in E's gross income as compensation for taxable...

26 CFR 1.1502-31 - Stock basis after a group structure change.

Code of Federal Regulations, 2010 CFR

2010-04-01

... S's stock. If T's net asset basis is a negative amount, it reduces P's basis in S's stock and, if... § 1.1502-19 for rules treating P's excess loss account as negative basis, and treating a reference to...(a)(2)(D), and S provides an appreciated asset (e.g., stock of P) as partial consideration in the...

Healthcare stocks expected to remain strong.

PubMed

Pallarito, K

1991-05-27

While healthcare stocks are likely to remain at the top of Wall Street's list of favorites, healthcare analysts and money managers say they don't expect to see the same quality of healthcare companies issuing stock the rest of the year. They say that in the coming months, more companies of lesser quality will sell stock at inflated prices, compared with their earnings.

26 CFR 1.356-4 - Exchanges for section 306 stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... exchange for section 306 stock, an amount equal to the fair market value of the property plus the money, if... a basis to him of $100) and a share of preferred stock which is section 306 stock (having a basis to him of $100) surrenders both shares in a transaction to which section 356 is applicable for one share...

Local involvement in measuring and governing carbon stocks in China, Vietnam, Indonesia and Laos

Treesearch

Michael Køie Poulsen

2013-01-01

An important element of MRV is to ensure accurate measurements of carbon stocks. Measuring trees on the ground may be needed for ground truthing of remote sensing results. It can also provide more accurate carbon stock monitoring than remote sensing alone. Local involvement in measuring trees for monitoring of carbon stocks may be advantageous in several ways....

Potential gains in storage on productive forestlands in the northeastern United Sates through stocking management

Treesearch

Coeli Hoover; Linda S. Heath

2011-01-01

One method of increasing forest carbon stocks that is often discussed is increasing stocking levels on existing forested lands. However, estimates of the potential increases in forest carbon sequestration as a result of increased stocking levels are not readily available. Using the USDA Forest Service's Forest Inventory and Analysis data coupled with the Forest...

26 CFR 1.162-19 - Capital contributions to Federal National Mortgage Association.

Code of Federal Regulations, 2010 CFR

2010-04-01

... value of the stock as of the issue date of such stock as an ordinary and necessary business expense paid... shares of stock on the date of issuance (November 1, 1960), as a business expense for the taxable year... value ($207) of the three shares of stock on the date of issuance (January 1, 1961), as a business...

26 CFR 1.1244(a)-1 - Loss on small business stock treated as ordinary loss.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 26 Internal Revenue 11 2012-04-01 2012-04-01 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...) An individual sustaining the loss to whom the stock was issued by a small business corporation, or (2...

26 CFR 1.883-2 - Treatment of publicly-traded corporations.

Code of Federal Regulations, 2012 CFR

2012-04-01

... closely-held block of stock. (ii) Exception. Paragraph (d)(3)(i) of this section shall not apply to a... block of stock to preclude nonqualified shareholders in the closely-held block of stock from owning 50 percent or more of the total value of the class of stock of which the closely-held block is a part for...

26 CFR 1.883-2 - Treatment of publicly-traded corporations.

Code of Federal Regulations, 2011 CFR

2011-04-01

... closely-held block of stock. (ii) Exception. Paragraph (d)(3)(i) of this section shall not apply to a... block of stock to preclude nonqualified shareholders in the closely-held block of stock from owning 50 percent or more of the total value of the class of stock of which the closely-held block is a part for...

26 CFR 1.883-2 - Treatment of publicly-traded corporations.

Code of Federal Regulations, 2013 CFR

2013-04-01

... closely-held block of stock. (ii) Exception. Paragraph (d)(3)(i) of this section shall not apply to a... block of stock to preclude nonqualified shareholders in the closely-held block of stock from owning 50 percent or more of the total value of the class of stock of which the closely-held block is a part for...

26 CFR 1.883-2 - Treatment of publicly-traded corporations.

Code of Federal Regulations, 2014 CFR

2014-04-01

... closely-held block of stock. (ii) Exception. Paragraph (d)(3)(i) of this section shall not apply to a... block of stock to preclude nonqualified shareholders in the closely-held block of stock from owning 50 percent or more of the total value of the class of stock of which the closely-held block is a part for...

26 CFR 1.883-2 - Treatment of publicly-traded corporations.

Code of Federal Regulations, 2010 CFR

2010-04-01

... closely-held block of stock. (ii) Exception. Paragraph (d)(3)(i) of this section shall not apply to a... block of stock to preclude nonqualified shareholders in the closely-held block of stock from owning 50 percent or more of the total value of the class of stock of which the closely-held block is a part for...

Stochastic GARCH dynamics describing correlations between stocks

NASA Astrophysics Data System (ADS)

Prat-Ortega, G.; Savel'ev, S. E.

2014-09-01

The ARCH and GARCH processes have been successfully used for modelling price dynamics such as stock returns or foreign exchange rates. Analysing the long range correlations between stocks, we propose a model, based on the GARCH process, which is able to describe the main characteristics of the stock price correlations, including the mean, variance, probability density distribution and the noise spectrum.

Econometric testing on linear and nonlinear dynamic relation between stock prices and macroeconomy in China

NASA Astrophysics Data System (ADS)

Borjigin, Sumuya; Yang, Yating; Yang, Xiaoguang; Sun, Leilei

2018-03-01

Many researchers have realized that there is a strong correlation between stock prices and macroeconomy. In order to make this relationship clear, a lot of studies have been done. However, the causal relationship between stock prices and macroeconomy has still not been well explained. A key point is that, most of the existing research adopts linear and stable models to investigate the correlation of stock prices and macroeconomy, while the real causality of that may be nonlinear and dynamic. To fill this research gap, we investigate the nonlinear and dynamic causal relationships between stock prices and macroeconomy. Based on the case of China's stock prices and acroeconomy measures from January 1992 to March 2017, we compare the linear Granger causality test models with nonlinear ones. Results demonstrate that the nonlinear dynamic Granger causality is much stronger than linear Granger causality. From the perspective of nonlinear dynamic Granger causality, China's stock prices can be viewed as "national economic barometer". On the one hand, this study will encourage researchers to take nonlinearity and dynamics into account when they investigate the correlation of stock prices and macroeconomy; on the other hand, our research can guide regulators and investors to make better decisions.

Summary of the geology and physical properties of the Climax Stock, Nevada Test Site

USGS Publications Warehouse

Maldonado, Florian

1977-01-01

The Climax stock is a composite stock of Cretaceous age, composed of quartz monzonite and granodiorite, which intrudes sedimentary rocks of Paleozoic and Precambrian age. Tertiary rocks consisting of tuff, welded tuff, and breccia overlie the stock and sedimentary rocks. Hydrothermal alteration of the granodiorite and quartz monzonite is found mainly along the joints and is extensive, but the intensity of alteration varies from place to place. The surrounding sedimentary rocks (carbonates) have been metasomatically altered to tactite and marble as much as 1,500 feet (457 m) from contact with stock; the degree of metamorphism decreasing away from the intrusive. The major faults found in the vicinity of the Climax stock are the Tippinip fault, the Boundary fault, and the Yucca fault. In the stock three prominent joint sets and their average attitudes are N. 32? W., 22? NE.; N 64? W., vertical; and N 35? E., vertical. Two major tunnel complexes have been driven into the Climax stock?the Tiny Tot tunnel complex and Pile Driver-Hard Hat tunnel complex. In the Pile Driver-Hard Hat complex two underground nuclear tests have been conducted.

The association between attempted suicide and stock price movements: Evidence from Taiwan.

PubMed

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

2017-08-01

This study is the first comprehensive analysis to investigate the potential association between stock market fluctuations and attempted suicide events as measured by self-inflicted injuries treated in hospitalization. Using nationwide, 15-year population-based data from 1998 through 2012, we observe that the occurrences for the hospitalizations of attempted suicides are apparently predicted by stock price movements. A low stock price index, a daily fall in the stock index, and consecutive daily falls in the stock index have been shown to be associated with increased risk of hospitalization in patients with attempted suicide. More specifically, stock price index is found to be significant impact on attempted suicide in the 45-54 age groups of both genders, whilst daily change is significant for both genders in the 25-34 and 55-64 age groups and accumulated change is only significant in female aged 25-44 and above 65. On the basis of the results, relevant organizations should consider the suicidal factors that relate prime-working-age and near-retirement-age people to better carry out specific suicide prevention measures, and, meanwhile, encourage those people to pay less attention towards daily stock price movements. Copyright © 2017 Elsevier Ireland Ltd. All rights reserved.

Large daily stock variation is associated with cardiovascular mortality in two cities of Guangdong, China.

PubMed

Lin, Hualiang; Zhang, Yonghui; Xu, Yanjun; Liu, Tao; Xiao, Jianpeng; Luo, Yuan; Xu, Xiaojun; He, Yanhui; Ma, Wenjun

2013-01-01

The current study aimed to examine the effects of daily change of the Shenzhen Stock Exchange Index on cardiovascular mortality in Guangzhou and Taishan, China. Daily mortality and stock performance data during 2006-2010 were collected to construct the time series for the two cities. A distributed lag non-linear model was utilized to examine the effect of daily stock index changes on cardiovascular mortality after controlling for potential confounding factors. We observed a delayed non-linear effect of the stock index change on cardiovascular mortality: both rising and declining of the stock index were associated with increased cardiovascular deaths. In Guangzhou, the 15-25 lag days cumulative relative risk of an 800 index drop was 2.08 (95% CI: 1.38-3.14), and 2.38 (95% CI: 1.31-4.31) for an 800 stock index increase on the cardiovascular mortality, respectively. In Taishan, the cumulative relative risk over 15-25 days lag was 1.65 (95% CI: 1.13-2.42) for an 800 index drop and 2.08 (95% CI: 1.26-3.42) for an 800 index rising, respectively. Large ups and downs in daily stock index might be important predictor of cardiovascular mortality.

Stock price forecasting for companies listed on Tehran stock exchange using multivariate adaptive regression splines model and semi-parametric splines technique

NASA Astrophysics Data System (ADS)

Rounaghi, Mohammad Mahdi; Abbaszadeh, Mohammad Reza; Arashi, Mohammad

2015-11-01

One of the most important topics of interest to investors is stock price changes. Investors whose goals are long term are sensitive to stock price and its changes and react to them. In this regard, we used multivariate adaptive regression splines (MARS) model and semi-parametric splines technique for predicting stock price in this study. The MARS model as a nonparametric method is an adaptive method for regression and it fits for problems with high dimensions and several variables. semi-parametric splines technique was used in this study. Smoothing splines is a nonparametric regression method. In this study, we used 40 variables (30 accounting variables and 10 economic variables) for predicting stock price using the MARS model and using semi-parametric splines technique. After investigating the models, we select 4 accounting variables (book value per share, predicted earnings per share, P/E ratio and risk) as influencing variables on predicting stock price using the MARS model. After fitting the semi-parametric splines technique, only 4 accounting variables (dividends, net EPS, EPS Forecast and P/E Ratio) were selected as variables effective in forecasting stock prices.

Potential increases in natural disturbance rates could offset forest management impacts on ecosystem carbon stocks

USGS Publications Warehouse

Bradford, John B.; Jensen, Nicholas R.; Domke, Grant M.; D’Amato, Anthony W.

2013-01-01

Forested ecosystems contain the majority of the world’s terrestrial carbon, and forest management has implications for regional and global carbon cycling. Carbon stored in forests changes with stand age and is affected by natural disturbance and timber harvesting. We examined how harvesting and disturbance interact to influence forest carbon stocks over the Superior National Forest, in northern Minnesota. Forest inventory data from the USDA Forest Service, Forest Inventory and Analysis program were used to characterize current forest age structure and quantify the relationship between age and carbon stocks for eight forest types. Using these findings, we simulated the impact of alternative management scenarios and natural disturbance rates on forest-wide terrestrial carbon stocks over a 100-year horizon. Under low natural mortality, forest-wide total ecosystem carbon stocks increased when 0% or 40% of planned harvests were implemented; however, the majority of forest-wide carbon stocks decreased with greater harvest levels and elevated disturbance rates. Our results suggest that natural disturbance has the potential to exert stronger influence on forest carbon stocks than timber harvesting activities and that maintaining carbon stocks over the long-term may prove difficult if disturbance frequency increases in response to climate change.

Examining the 10-Year Rebuilding Dilemma for U.S. Fish Stocks

PubMed Central

Patrick, Wesley S.; Cope, Jason

2014-01-01

Worldwide, fishery managers strive to maintain fish stocks at or above levels that produce maximum sustainable yields, and to rebuild overexploited stocks that can no longer support such yields. In the United States, rebuilding overexploited stocks is a contentious issue, where most stocks are mandated to rebuild in as short a time as possible, and in a time period not to exceed 10 years. Opponents of such mandates and related guidance argue that rebuilding requirements are arbitrary, and create discontinuities in the time and fishing effort allowed for stocks to rebuild due to differences in productivity. Proponents, however, highlight how these mandates and guidance were needed to curtail the continued overexploitation of these stocks by setting firm deadlines on rebuilding. Here we evaluate the statements made by opponents and proponents of the 10-year rebuilding mandate and related guidance to determine whether such points are technically accurate using a simple population dynamics model and a database of U.S. fish stocks to parameterize the model. We also offer solutions to many of the issues surrounding this mandate and its implementation by recommending some fishing mortality based frameworks, which meet the intent of the 10-year rebuilding requirement while also providing more flexibility. PMID:25375788

Topological Characteristics of the Hong Kong Stock Market: A Test-based P-threshold Approach to Understanding Network Complexity

PubMed Central

Xu, Ronghua; Wong, Wing-Keung; Chen, Guanrong; Huang, Shuo

2017-01-01

In this paper, we analyze the relationship among stock networks by focusing on the statistically reliable connectivity between financial time series, which accurately reflects the underlying pure stock structure. To do so, we firstly filter out the effect of market index on the correlations between paired stocks, and then take a t-test based P-threshold approach to lessening the complexity of the stock network based on the P values. We demonstrate the superiority of its performance in understanding network complexity by examining the Hong Kong stock market. By comparing with other filtering methods, we find that the P-threshold approach extracts purely and significantly correlated stock pairs, which reflect the well-defined hierarchical structure of the market. In analyzing the dynamic stock networks with fixed-size moving windows, our results show that three global financial crises, covered by the long-range time series, can be distinguishingly indicated from the network topological and evolutionary perspectives. In addition, we find that the assortativity coefficient can manifest the financial crises and therefore can serve as a good indicator of the financial market development. PMID:28145494

Stochastic Analysis and Forecasts of the Patterns of Speed, Acceleration, and Levels of Material Stock Accumulation in Society.

PubMed

Fishman, Tomer; Schandl, Heinz; Tanikawa, Hiroki

2016-04-05

The recent acceleration of urbanization and industrialization of many parts of the developing world, most notably in Asia, has resulted in a fast-increasing demand for and accumulation of construction materials in society. Despite the importance of physical stocks in society, the empirical assessment of total material stock of buildings and infrastructure and reasons for its growth have been underexplored in the sustainability literature. We propose an innovative approach for explaining material stock dynamics in society and create a country typology for stock accumulation trajectories using the ARIMA (Autoregressive Integrated Moving Average) methodology, a stochastic approach commonly used in business studies and economics to inspect and forecast time series. This enables us to create scenarios for future demand and accumulation of building materials in society, including uncertainty estimates. We find that the so-far overlooked aspect of acceleration trends of material stock accumulation holds the key to explaining material stock growth, and that despite tremendous variability in country characteristics, stock accumulation is limited to only four archetypal growth patterns. The ability of nations to change their pattern will be a determining factor for global sustainability.

The asymmetric reactions of mean and volatility of stock returns to domestic and international information based on a four-regime double-threshold GARCH model

NASA Astrophysics Data System (ADS)

Chen, Cathy W. S.; Yang, Ming Jing; Gerlach, Richard; Jim Lo, H.

2006-07-01

In this paper, we investigate the asymmetric reactions of mean and volatility of stock returns in five major markets to their own local news and the US information via linear and nonlinear models. We introduce a four-regime Double-Threshold GARCH (DTGARCH) model, which allows asymmetry in both the conditional mean and variance equations simultaneously by employing two threshold variables, to analyze the stock markets’ reactions to different types of information (good/bad news) generated from the domestic markets and the US stock market. By applying the four-regime DTGARCH model, this study finds that the interaction between the information of domestic and US stock markets leads to the asymmetric reactions of stock returns and their variability. In addition, this research also finds that the positive autocorrelation reported in the previous studies of financial markets may in fact be mis-specified, and actually due to the local market's positive response to the US stock market.

Interdependence between Greece and other European stock markets: A comparison of wavelet and VMD copula, and the portfolio implications

NASA Astrophysics Data System (ADS)

Shahzad, Syed Jawad Hussain; Kumar, Ronald Ravinesh; Ali, Sajid; Ameer, Saba

2016-09-01

The interdependence of Greece and other European stock markets and the subsequent portfolio implications are examined in wavelet and variational mode decomposition domain. In applying the decomposition techniques, we analyze the structural properties of data and distinguish between short and long term dynamics of stock market returns. First, the GARCH-type models are fitted to obtain the standardized residuals. Next, different copula functions are evaluated, and based on the conventional information criteria and time varying parameter, Joe-Clayton copula is chosen to model the tail dependence between the stock markets. The short-run lower tail dependence time paths show a sudden increase in comovement during the global financial crises. The results of the long-run dependence suggest that European stock markets have higher interdependence with Greece stock market. Individual country's Value at Risk (VaR) separates the countries into two distinct groups. Finally, the two-asset portfolio VaR measures provide potential markets for Greece stock market investment diversification.

Implementation and evaluation of a web based system for pharmacy stock management in rural Haiti.

PubMed

Berger, Elisabeth J; Jazayeri, Darius; Sauveur, Marcel; Manasse, Jean Joel; Plancher, Inel; Fiefe, Marquise; Laurat, Guerline; Joseph, Samahel; Kempton, Kathryn; Fraser, Hamish S F

2007-10-11

Managing the stock and supply of medication is essential for the provision of health care, especially in resource poor areas of the world. We have developed an innovative, web-based stock management system to support nine clinics in rural Haiti. Building on our experience with a web-based EMR system for our HIV patients, we developed a comprehensive stock tracking system that is modeled on the appearance of standardized WHO stock cards. The system allows pharmacy staff at all clinics to enter stock levels and also to request drugs and track shipments. Use of the system over the last 2 years has increased rapidly and we now track 450 products supporting care for 1.78 million patient visits annually. Over the last year drug stockouts have fallen from 2.6% to 1.1% and 97% of stock requests delivered were shipped within 1 day. We are now setting up this system in our clinics in rural Rwanda.

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.

Method of producing a diesel fuel blend having a pre-determined flash-point and pre-determined increase in cetane number

DOEpatents

Waller, Francis Joseph; Quinn, Robert

2004-07-06

The present invention relates to a method of producing a diesel fuel blend having a pre-determined flash-point and a pre-determined increase in cetane number over the stock diesel fuel. Upon establishing the desired flash-point and increase in cetane number, an amount of a first oxygenate with a flash-point less than the flash-point of the stock diesel fuel and a cetane number equal to or greater than the cetane number of the stock diesel fuel is added to the stock diesel fuel in an amount sufficient to achieve the pre-determined increase in cetane number. Thereafter, an amount of a second oxygenate with a flash-point equal to or greater than the flash-point of the stock diesel fuel and a cetane number greater than the cetane number of the stock diesel fuel is added to the stock diesel fuel in an amount sufficient to achieve the pre-determined increase in cetane number.

Coupling detrended fluctuation analysis of Asian stock markets

NASA Astrophysics Data System (ADS)

Wang, Qizhen; Zhu, Yingming; Yang, Liansheng; Mul, Remco A. H.

2017-04-01

This paper uses the coupling detrended fluctuation analysis (CDFA) method to investigate the multifractal characteristics of four Asian stock markets using three stock indices: stock price returns, trading volumes and the composite index. The results show that coupled correlations exist among the four stock markets and the coupled correlations have multifractal characteristics. We then use the chi square (χ2) test to identify the sources of multifractality. For the different stock indices, the contributions of a single series to multifractality are different. In other words, the contributions of each country to coupled correlations are different. The comparative analysis shows that the research on the combine effect of stock price returns and trading volumes may be more comprehensive than on an individual index. By comparing the strength of multifractality for original data with the residual errors of the vector autoregression (VAR) model, we find that the VAR model could not be used to describe the dynamics of the coupled correlations among four financial time series.

Base stock system for patient vs impatient customers with varying demand distribution

NASA Astrophysics Data System (ADS)

Fathima, Dowlath; Uduman, P. Sheik

2013-09-01

An optimal Base-Stock inventory policy for Patient and Impatient Customers using finite-horizon models is examined. The Base stock system for Patient and Impatient customers is a different type of inventory policy. In case of the model I, Base stock for Patient customer case is evaluated using the Truncated Exponential Distribution. The model II involves the study of Base-stock inventory policies for Impatient customer. A study on these systems reveals that the Customers wait until the arrival of the next order or the customers leaves the system which leads to lost sale. In both the models demand during the period [0, t] is taken to be a random variable. In this paper, Truncated Exponential Distribution satisfies the Base stock policy for the patient customer as a continuous model. So far the Base stock for Impatient Customers leaded to a discrete case but, in this paper we have modeled this condition into a continuous case. We justify this approach mathematically and also numerically.

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

Effects of multiple interacting disturbances and salvage logging on forest carbon stocks

USGS Publications Warehouse

Bradford, J.B.; Fraver, S.; Milo, A.M.; D'Amato, A.W.; Palik, B.; Shinneman, D.J.

2012-01-01

Climate change is anticipated to increase the frequency of disturbances, potentially impacting carbon stocks in terrestrial ecosystems. However, little is known about the implications of either multiple disturbances or post-disturbance forest management activities on ecosystem carbon stocks. This study quantified how forest carbon stocks responded to stand-replacing blowdown and wildfire, both individually and in combination with and without post-disturbance salvage operations, in a sub-boreal jack pine ecosystem. Individually, blowdown or fire caused similar decreases in live carbon and total ecosystem carbon. However, whereas blowdown increased carbon in down woody material and forest floor, fire increased carbon in standing snags, a difference that may have consequences for long-term carbon cycling patterns. Fire after the blowdown caused substantial additional reduction in ecosystem carbon stocks, suggesting that potential increases in multiple disturbance events may represent a challenge for sustaining ecosystem carbon stocks. Salvage logging, as examined here, decreased carbon stored in snags and down woody material but had no significant effect on total ecosystem carbon stocks.

Regularities and irregularities in order flow data

NASA Astrophysics Data System (ADS)

Theissen, Martin; Krause, Sebastian M.; Guhr, Thomas

2017-11-01

We identify and analyze statistical regularities and irregularities in the recent order flow of different NASDAQ stocks, focusing on the positions where orders are placed in the order book. This includes limit orders being placed outside of the spread, inside the spread and (effective) market orders. Based on the pairwise comparison of the order flow of different stocks, we perform a clustering of stocks into groups with similar behavior. This is useful to assess systemic aspects of stock price dynamics. We find that limit order placement inside the spread is strongly determined by the dynamics of the spread size. Most orders, however, arrive outside of the spread. While for some stocks order placement on or next to the quotes is dominating, deeper price levels are more important for other stocks. As market orders are usually adjusted to the quote volume, the impact of market orders depends on the order book structure, which we find to be quite diverse among the analyzed stocks as a result of the way limit order placement takes place.

Quantifying the effect of investors' attention on stock market.

PubMed

Yang, Zhen-Hua; Liu, Jian-Guo; Yu, Chang-Rui; Han, Jing-Ti

2017-01-01

The investors' attention has been extensively used to predict the stock market. Different from existing proxies of the investors' attention, such as the Google trends, Baidu index (BI), we argue the collective attention from the stock trading platforms could reflect the investors' attention more closely. By calculated the increments of the attention volume for each stock (IAVS) from the stock trading platforms, we investigate the effect of investors' attention measured by the IAVS on the movement of the stock market. The experimental results for Chinese Securities Index 100 (CSI100) show that the BI is significantly correlated with the returns of CSI100 at 1% significance level only in 2014. However, it should be emphasized that the correlation of the new proposed measure, namely IAVS, is significantly at 1% significance level in 2014 and 2015. It shows that the effect of the measure IAVS on the movement of the stock market is more stable and significant than BI. This study yields important invest implications and better understanding of collective investors' attention.

Quantifying the effect of investors’ attention on stock market

PubMed Central

Yang, Zhen-Hua; Liu, Jian-Guo; Yu, Chang-Rui; Han, Jing-Ti

2017-01-01

The investors’ attention has been extensively used to predict the stock market. Different from existing proxies of the investors’ attention, such as the Google trends, Baidu index (BI), we argue the collective attention from the stock trading platforms could reflect the investors’ attention more closely. By calculated the increments of the attention volume for each stock (IAVS) from the stock trading platforms, we investigate the effect of investors’ attention measured by the IAVS on the movement of the stock market. The experimental results for Chinese Securities Index 100 (CSI100) show that the BI is significantly correlated with the returns of CSI100 at 1% significance level only in 2014. However, it should be emphasized that the correlation of the new proposed measure, namely IAVS, is significantly at 1% significance level in 2014 and 2015. It shows that the effect of the measure IAVS on the movement of the stock market is more stable and significant than BI. This study yields important invest implications and better understanding of collective investors’ attention. PMID:28542216

Conventional tree height-diameter relationships significantly overestimate aboveground carbon stocks in the Central Congo Basin.

PubMed

Kearsley, Elizabeth; de Haulleville, Thales; Hufkens, Koen; Kidimbu, Alidé; Toirambe, Benjamin; Baert, Geert; Huygens, Dries; Kebede, Yodit; Defourny, Pierre; Bogaert, Jan; Beeckman, Hans; Steppe, Kathy; Boeckx, Pascal; Verbeeck, Hans

2013-01-01

Policies to reduce emissions from deforestation and forest degradation largely depend on accurate estimates of tropical forest carbon stocks. Here we present the first field-based carbon stock data for the Central Congo Basin in Yangambi, Democratic Republic of Congo. We find an average aboveground carbon stock of 162 ± 20  Mg  C  ha(-1) for intact old-growth forest, which is significantly lower than stocks recorded in the outer regions of the Congo Basin. The best available tree height-diameter relationships derived for Central Africa do not render accurate canopy height estimates for our study area. Aboveground carbon stocks would be overestimated by 24% if these inaccurate relationships were used. The studied forests have a lower stature compared with forests in the outer regions of the basin, which confirms remotely sensed patterns. Additionally, we find an average soil carbon stock of 111 ± 24  Mg  C  ha(-1), slightly influenced by the current land-use change.

The Influence of Compression Stocking on Jumping Performance of Athlete

NASA Astrophysics Data System (ADS)

Salleh, M. N.; Lazim, H. M.; Lamsali, H.; Salleh, A. F.

2018-05-01

Evidence of compression stocking effectiveness are mixed, with some researchers suggests that the stocking can enhance performance while others dispute the finding. One of the factors that are thought to cause the mixed results is level of pressure used in their studies. This research had organized a test on fourteen athletes. Their body was scanned and a customized compression stocking which can exert pressure correspond to the intended one was developed. An experiment was conducted to measure the effect of wearing compression stocking on jumping performance. The results show mixed outcomes. For the female athlete, there is a significant difference between wearing and not wearing compression stocking (p<0.05) on knee power. However, there is no significant difference for male athletes whether wearing or not.

Revisiting the investor sentiment-stock returns relationship: A multi-scale perspective using wavelets

NASA Astrophysics Data System (ADS)

Lao, Jiashun; Nie, He; Jiang, Yonghong

2018-06-01

This paper employs SBW proposed by Baker and Wurgler (2006) to investigate the nonlinear asymmetric Granger causality between investor sentiment and stock returns for US economy while considering different time-scales. The wavelet method is utilized to decompose time series of investor sentiment and stock returns at different time-scales to focus on the local analysis of different time horizons of investors. The linear and nonlinear asymmetric Granger methods are employed to examine the Granger causal relationship on similar time-scales. We find evidence of strong bilateral linear and nonlinear asymmetric Granger causality between longer-term investor sentiment and stock returns. Furthermore, we observe the positive nonlinear causal relationship from stock returns to investor sentiment and the negative nonlinear causal relationship from investor sentiment to stock returns.

Permutation entropy analysis of financial time series based on Hill's diversity number

NASA Astrophysics Data System (ADS)

Zhang, Yali; Shang, Pengjian

2017-12-01

In this paper the permutation entropy based on Hill's diversity number (Nn,r) is introduced as a new way to assess the complexity of a complex dynamical system such as stock market. We test the performance of this method with simulated data. Results show that Nn,r with appropriate parameters is more sensitive to the change of system and describes the trends of complex systems clearly. In addition, we research the stock closing price series from different data that consist of six indices: three US stock indices and three Chinese stock indices during different periods, Nn,r can quantify the changes of complexity for stock market data. Moreover, we get richer information from Nn,r, and obtain some properties about the differences between the US and Chinese stock indices.

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.

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 still growing. At colder agroclimatic regions, at flysch region especially where cambisols are present with low of SOM stability since 1994 stability or decreasing of SOC stock is resulting. This is result of climatic impact (lower temperatures, higher humidity) as well as the way of soil management because at colder region the number of glasslands is increased in comparison to arable land. Close relationship between SOC stock and soil production potential index representing the official basis for soil quality evaluation in Slovakia was also determined and a polynomial model was found which describes the relation at the 95% confidence level. From the obtained results it can be concluded, that the amount of crop residues and farmyard manure coming to the soil both in the first and second simulation period (1970 - 1995 and 1996 - 2007) was responsible for general trends in SOC stock dynamics. Achieved results also show different amount and changes of SOC stock in different agroclimatic regions. It was also found that that value of soil production potential index generally used for soil quality assessment in Slovakia corresponds well with simulated values of SOC stocks in top-soils of cropland soils. Key words Soil organic carbon stock, modelling, agricultural soils, agroclimatic regions, Slovakia Acknowledgements This work was supported by the Slovak Research and Development Agency under the contract No. APVV-0333-06.

Time-varying long term memory in the European Union stock markets

NASA Astrophysics Data System (ADS)

Sensoy, Ahmet; Tabak, Benjamin M.

2015-10-01

This paper proposes a new efficiency index to model time-varying inefficiency in stock markets. We focus on European stock markets and show that they have different degrees of time-varying efficiency. We observe that the 2008 global financial crisis has an adverse effect on almost all EU stock markets. However, the Eurozone sovereign debt crisis has a significant adverse effect only on the markets in France, Spain and Greece. For the late members, joining EU does not have a uniform effect on stock market efficiency. Our results have important implications for policy makers, investors, risk managers and academics.

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.

The role of global in-use material stocks in the course of the socio-metabolic transition, from 1900 -2009

NASA Astrophysics Data System (ADS)

Wiedenhofer, Dominik; Lauk, Christian; Fishman, Tomer; Tanikawa, Hiroki; Eisenmenger, Nina; Krausmann, Fridolin

2014-05-01

During the global socio-metabolic transition into the fossil fuelled age in the 20th century, annual material use increased nearly 10-fold (Krausmann et al. 2009). A substantial part of these materials were used to expand societal stocks such as infrastructure, buildings, factories or machinery. Long service-lifetimes lead to an ongoing accumulation of in-use stocks and determine the availability of materials for reuse and recycling. Systematic knowledge about material stock dynamics is crucial for understanding possible future resource use trends, the potential for increased recycling and thereby inform the development of strategies towards more sustainable resource use. In this presentation we explore the relationship between material use and stock accumulation, estimating global material stocks in infrastructures, buildings and durable goods from 1900 - 2009 based on a dynamic material stocks and flows model. We apply a top-down modelling approach, tracking annual cohorts of inflows of stock-building materials throughout the time period. We utilize a global material flow database and auxiliary data sources covering the time period 1850 - 2009 (Krausmann et al., 2009; Schaffartzik et al. 2013) to distinguish inputs of 11 major stock building materials: concrete, asphalt, bricks/stones/tiles, sand/gravel/crushed rocks, copper, steel, aluminum,other metals, solid-wood products, paper and plastics. Two types of functions are then used to model the lifetimes of the materials in use: A uniform distribution is applied for materials with short lifetimes, while a normal distribution is applied for materials with longer lifetimes. Furthermore, end-of-life waste is subject to recycling, thereby turning into additional input flows of non-virgin materials. Due to the inherent uncertainty in such an exercise, we perform Monte-Carlo simulations, applying uncertainty ranges for all model parameters and the material inflow data introduced above. This allows us to a) identify further research & data requirements for improved stock estimations, b) discuss possible ranges of global material stocks in use and c) give an outlook on regionalized stock modelling exercises. In conclusion, we reflect on quantitative long term developments of global material stocks and discuss the relation of economic development and stocks. We finalize with reflections on the role of in-use stocks in ongoing socio-ecological transitions into the fossil-fuel based regime as well as implications for more sustainable resource use strategies in the light of the need for a new transition towards sustainability. Literature cited: Krausmann, Fridolin, Simone Gingrich, Nina Eisenmenger, Karl-Heinz Erb, Helmut Haberl, and Marina Fischer-Kowalski. "Growth in Global Materials Use, GDP and Population during the 20th Century." Ecological Economics 68, no. 10 (2009): 2696-2705. doi:10.1016/j.ecolecon.2009.05.007.

Quantifying the uncertainty of regional and national estimates of soil carbon stocks

NASA Astrophysics Data System (ADS)

Papritz, Andreas

2013-04-01

At regional and national scales, carbon (C) stocks are frequently estimated by means of regression models. Such statistical models link measurements of carbons stocks, recorded for a set of soil profiles or soil cores, to covariates that characterize soil formation conditions and land management. A prerequisite is that these covariates are available for any location within a region of interest G because they are used along with the fitted regression coefficients to predict the carbon stocks at the nodes of a fine-meshed grid that is laid over G. The mean C stock in G is then estimated by the arithmetic mean of the stock predictions for the grid nodes. Apart from the mean stock, the precision of the estimate is often also of interest, for example to judge whether the mean C stock has changed significantly between two inventories. The standard error of the estimated mean stock in G can be computed from the regression results as well. Two issues are thereby important: (i) How large is the area of G relative to the support of the measurements? (ii) Are the residuals of the regression model spatially auto-correlated or is the assumption of statistical independence tenable? Both issues are correctly handled if one adopts a geostatistical block kriging approach for estimating the mean C stock within a region and its standard error. In the presentation I shall summarize the main ideas of external drift block kriging. To compute the standard error of the mean stock, one has in principle to sum the elements a potentially very large covariance matrix of point prediction errors, but I shall show that the required term can be approximated very well by Monte Carlo techniques. I shall further illustrated with a few examples how the standard error of the mean stock estimate changes with the size of G and with the strenght of the auto-correlation of the regression residuals. As an application a robust variant of block kriging is used to quantify the mean carbon stock stored in the soils of Swiss forests (Nussbaum et al., 2012). Nussbaum, M., Papritz, A., Baltensweiler, A., and Walthert, L. (2012). Organic carbon stocks of swiss forest soils. Final report, Institute of Terrestrial Ecosystems, ETH Zürich and Swiss Federal Institute for Forest, Snow and Landscape Research (WSL), pp. 51, http://e-collection.library.ethz.ch/eserv/eth:6027/eth-6027-01.pdf

Scaling impacts on environmental controls and spatial heterogeneity of soil organic carbon stocks

NASA Astrophysics Data System (ADS)

Mishra, U.; Riley, W. J.

2015-01-01

The spatial heterogeneity of land surfaces affects energy, moisture, and greenhouse gas exchanges with the atmosphere. However, representing heterogeneity of terrestrial hydrological and biogeochemical processes in earth system models (ESMs) remains a critical scientific challenge. We report the impact of spatial scaling on environmental controls, spatial structure, and statistical properties of soil organic carbon (SOC) stocks across the US state of Alaska. We used soil profile observations and environmental factors such as topography, climate, land cover types, and surficial geology to predict the SOC stocks at a 50 m spatial scale. These spatially heterogeneous estimates provide a dataset with reasonable fidelity to the observations at a sufficiently high resolution to examine the environmental controls on the spatial structure of SOC stocks. We upscaled both the predicted SOC stocks and environmental variables from finer to coarser spatial scales (s = 100, 200, 500 m, 1, 2, 5, 10 km) and generated various statistical properties of SOC stock estimates. We found different environmental factors to be statistically significant predictors at different spatial scales. Only elevation, temperature, potential evapotranspiration, and scrub land cover types were significant predictors at all scales. The strengths of control (the median value of geographically weighted regression coefficients) of these four environmental variables on SOC stocks decreased with increasing scale and were accurately represented using mathematical functions (R2 = 0.83-0.97). The spatial structure of SOC stocks across Alaska changed with spatial scale. Although the variance (sill) and unstructured variability (nugget) of the calculated variograms of SOC stocks decreased exponentially with scale, the correlation length (range) remained relatively constant across scale. The variance of predicted SOC stocks decreased with spatial scale over the range of 50 to ~ 500 m, and remained constant beyond this scale. The fitted exponential function accounted for 98% of variability in the variance of SOC stocks. We found moderately-accurate linear relationships between mean and higher-order moments of predicted SOC stocks (R2 ~ 0.55-0.63). Current ESMs operate at coarse spatial scales (50-100 km), and are therefore unable to represent environmental controllers and spatial heterogeneity of high-latitude SOC stocks consistent with observations. We conclude that improved understanding of the scaling behavior of environmental controls and statistical properties of SOC stocks can improve ESM land model benchmarking and perhaps allow representation of spatial heterogeneity of biogeochemistry at scales finer than those currently resolved by ESMs.

Scaling impacts on environmental controls and spatial heterogeneity of soil organic carbon stocks

NASA Astrophysics Data System (ADS)

Mishra, U.; Riley, W. J.

2015-07-01

The spatial heterogeneity of land surfaces affects energy, moisture, and greenhouse gas exchanges with the atmosphere. However, representing the heterogeneity of terrestrial hydrological and biogeochemical processes in Earth system models (ESMs) remains a critical scientific challenge. We report the impact of spatial scaling on environmental controls, spatial structure, and statistical properties of soil organic carbon (SOC) stocks across the US state of Alaska. We used soil profile observations and environmental factors such as topography, climate, land cover types, and surficial geology to predict the SOC stocks at a 50 m spatial scale. These spatially heterogeneous estimates provide a data set with reasonable fidelity to the observations at a sufficiently high resolution to examine the environmental controls on the spatial structure of SOC stocks. We upscaled both the predicted SOC stocks and environmental variables from finer to coarser spatial scales (s = 100, 200, and 500 m and 1, 2, 5, and 10 km) and generated various statistical properties of SOC stock estimates. We found different environmental factors to be statistically significant predictors at different spatial scales. Only elevation, temperature, potential evapotranspiration, and scrub land cover types were significant predictors at all scales. The strengths of control (the median value of geographically weighted regression coefficients) of these four environmental variables on SOC stocks decreased with increasing scale and were accurately represented using mathematical functions (R2 = 0.83-0.97). The spatial structure of SOC stocks across Alaska changed with spatial scale. Although the variance (sill) and unstructured variability (nugget) of the calculated variograms of SOC stocks decreased exponentially with scale, the correlation length (range) remained relatively constant across scale. The variance of predicted SOC stocks decreased with spatial scale over the range of 50 m to ~ 500 m, and remained constant beyond this scale. The fitted exponential function accounted for 98 % of variability in the variance of SOC stocks. We found moderately accurate linear relationships between mean and higher-order moments of predicted SOC stocks (R2 ∼ 0.55-0.63). Current ESMs operate at coarse spatial scales (50-100 km), and are therefore unable to represent environmental controllers and spatial heterogeneity of high-latitude SOC stocks consistent with observations. We conclude that improved understanding of the scaling behavior of environmental controls and statistical properties of SOC stocks could improve ESM land model benchmarking and perhaps allow representation of spatial heterogeneity of biogeochemistry at scales finer than those currently resolved by ESMs.

Scaling impacts on environmental controls and spatial heterogeneity of soil organic carbon stocks

DOE PAGES

Mishra, U.; Riley, W. J.

2015-07-02

The spatial heterogeneity of land surfaces affects energy, moisture, and greenhouse gas exchanges with the atmosphere. However, representing the heterogeneity of terrestrial hydrological and biogeochemical processes in Earth system models (ESMs) remains a critical scientific challenge. We report the impact of spatial scaling on environmental controls, spatial structure, and statistical properties of soil organic carbon (SOC) stocks across the US state of Alaska. We used soil profile observations and environmental factors such as topography, climate, land cover types, and surficial geology to predict the SOC stocks at a 50 m spatial scale. These spatially heterogeneous estimates provide a data setmore » with reasonable fidelity to the observations at a sufficiently high resolution to examine the environmental controls on the spatial structure of SOC stocks. We upscaled both the predicted SOC stocks and environmental variables from finer to coarser spatial scales ( s = 100, 200, and 500 m and 1, 2, 5, and 10 km) and generated various statistical properties of SOC stock estimates. We found different environmental factors to be statistically significant predictors at different spatial scales. Only elevation, temperature, potential evapotranspiration, and scrub land cover types were significant predictors at all scales. The strengths of control (the median value of geographically weighted regression coefficients) of these four environmental variables on SOC stocks decreased with increasing scale and were accurately represented using mathematical functions ( R 2 = 0.83–0.97). The spatial structure of SOC stocks across Alaska changed with spatial scale. Although the variance (sill) and unstructured variability (nugget) of the calculated variograms of SOC stocks decreased exponentially with scale, the correlation length (range) remained relatively constant across scale. The variance of predicted SOC stocks decreased with spatial scale over the range of 50 m to ~ 500 m, and remained constant beyond this scale. The fitted exponential function accounted for 98 % of variability in the variance of SOC stocks. We found moderately accurate linear relationships between mean and higher-order moments of predicted SOC stocks ( R 2 ∼ 0.55–0.63). Current ESMs operate at coarse spatial scales (50–100 km), and are therefore unable to represent environmental controllers and spatial heterogeneity of high-latitude SOC stocks consistent with observations. We conclude that improved understanding of the scaling behavior of environmental controls and statistical properties of SOC stocks could improve ESM land model benchmarking and perhaps allow representation of spatial heterogeneity of biogeochemistry at scales finer than those currently resolved by ESMs.« less

Scaling impacts on environmental controls and spatial heterogeneity of soil organic carbon stocks

DOE PAGES

Mishra, U.; Riley, W. J.

2015-01-01

The spatial heterogeneity of land surfaces affects energy, moisture, and greenhouse gas exchanges with the atmosphere. However, representing heterogeneity of terrestrial hydrological and biogeochemical processes in earth system models (ESMs) remains a critical scientific challenge. We report the impact of spatial scaling on environmental controls, spatial structure, and statistical properties of soil organic carbon (SOC) stocks across the US state of Alaska. We used soil profile observations and environmental factors such as topography, climate, land cover types, and surficial geology to predict the SOC stocks at a 50 m spatial scale. These spatially heterogeneous estimates provide a dataset with reasonablemore » fidelity to the observations at a sufficiently high resolution to examine the environmental controls on the spatial structure of SOC stocks. We upscaled both the predicted SOC stocks and environmental variables from finer to coarser spatial scales ( s = 100, 200, 500 m, 1, 2, 5, 10 km) and generated various statistical properties of SOC stock estimates. We found different environmental factors to be statistically significant predictors at different spatial scales. Only elevation, temperature, potential evapotranspiration, and scrub land cover types were significant predictors at all scales. The strengths of control (the median value of geographically weighted regression coefficients) of these four environmental variables on SOC stocks decreased with increasing scale and were accurately represented using mathematical functions ( R 2 = 0.83–0.97). The spatial structure of SOC stocks across Alaska changed with spatial scale. Although the variance (sill) and unstructured variability (nugget) of the calculated variograms of SOC stocks decreased exponentially with scale, the correlation length (range) remained relatively constant across scale. The variance of predicted SOC stocks decreased with spatial scale over the range of 50 to ~ 500 m, and remained constant beyond this scale. The fitted exponential function accounted for 98% of variability in the variance of SOC stocks. We found moderately-accurate linear relationships between mean and higher-order moments of predicted SOC stocks ( R 2 ~ 0.55–0.63). Current ESMs operate at coarse spatial scales (50–100 km), and are therefore unable to represent environmental controllers and spatial heterogeneity of high-latitude SOC stocks consistent with observations. We conclude that improved understanding of the scaling behavior of environmental controls and statistical properties of SOC stocks can improve ESM land model benchmarking and perhaps allow representation of spatial heterogeneity of biogeochemistry at scales finer than those currently resolved by ESMs.« less

26 CFR 1.865-2 - Loss with respect to stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... paragraph (b)(1) may be illustrated by the following examples: Example 1. (i) P, a domestic corporation, is... domestic corporation, owns all of the stock of N1, which owns all of the stock of N2, which owns all of the... paragraph (a)(1) of this section. Example 3. (i) P, a domestic corporation, owns all of the stock of N1...

77 FR 24549 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Amendment No. 1...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-04-24

... stock'' if the issuer fails the net tangible assets and revenue tests after listing and does not satisfy... assets or revenue tests, nor any other exclusions from being a penny stock under Rule 3a51-1. Moreover... tangible assets and average revenue tests contained in the alternative penny stock exclusion set forth in...

Levels-of-growing-stock cooperative study in Douglas-fir: report no. 14—Stampede Creek, 30-year results.

Treesearch

Robert O. Curtis; David D. Marshall

2002-01-01

Results of the Stampede Creek installation of the levels-of-growing-stock (LOGS) study in Douglas-fir (Pseudotsuga menziesii (Mirb.) Franco) are summarized. To age 63 (planned completion of 60 feet of height growth), volume growth on the site III natural stand has been strongly related to level of growing stock, but basal area growth-growing stock...

Carbon sequestration in harvested wood products.

Treesearch

K. Skog

2011-01-01

This section quantifies the net changes in C stocks in the five forest C pools and two harvested wood pools. The net change in stocks for each pool is estimated, and then the changes in stocks are summed over all pools to estimate total net flux. The focus on C implies that all C-based greenhouse gases are included, and the focus on stock change suggests that specific...

75 FR 55381 - Joint Industry Plan; Order Approving Amendment To Add EDGA Exchange, Inc. and EDGX Exchange, Inc...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-09-10

... their monthly reports available to the public under Rule 11Ac1-5 under the Act (n/ k/a Rule 605 of... Stock Exchange LLC (n/k/a NYSE Amex, Inc.), BATS Exchange, Inc., Boston Stock Exchange, Inc. (n/k/a...., Cincinnati Stock Exchange, Inc. (n/k/a National Stock Exchange\\SM\\), International Securities Exchange, LLC...

26 CFR 1.356-7 - Rules for treatment of nonqualified preferred stock and other preferred stock received in certain...

Code of Federal Regulations, 2010 CFR

2010-04-01

... holder to require P to redeem the stock in 2020. Under paragraph (b) of this section, the P preferred... contingency that makes remote the likelihood of redemption on or before January 1, 2020. In 2007, pursuant to... of the T stock is subject makes remote the likelihood of redemption before January 1, 2020, but the P...

26 CFR 1.356-7 - Rules for treatment of nonqualified preferred stock and other preferred stock received in certain...

Code of Federal Regulations, 2011 CFR

2011-04-01

... holder to require P to redeem the stock in 2020. Under paragraph (b) of this section, the P preferred... contingency that makes remote the likelihood of redemption on or before January 1, 2020. In 2007, pursuant to... of the T stock is subject makes remote the likelihood of redemption before January 1, 2020, but the P...

26 CFR 1.1081-7 - Sale of stock or securities received upon exchange by members of system group.

Code of Federal Regulations, 2010 CFR

2010-04-01

.... Orders § 1.1081-7 Sale of stock or securities received upon exchange by members of system group. (a... which are members of the same system group consists of stock or securities issued by the corporation... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Sale of stock or securities received upon...

26 CFR 1.356-2 - Receipt of additional consideration not in connection with an exchange.

Code of Federal Regulations, 2010 CFR

2010-04-01

... shares of the stock of Corporation Y plus $100 cash without requiring the surrender of any shares of its... stock of Corporation Y to A and 30 shares of such stock plus $100 cash to B without requiring the.... Individuals A and B each own 50 of the 100 outstanding shares of common stock of Corporation X. Corporation X...

17 CFR 240.15g-5 - Disclosure of compensation of associated persons in connection with penny stock transactions.

Code of Federal Regulations, 2013 CFR

2013-04-01

... associated persons in connection with penny stock transactions. 240.15g-5 Section 240.15g-5 Commodity and... connection with penny stock transactions. (a) General. It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless the broker or dealer...

17 CFR 240.15g-5 - Disclosure of compensation of associated persons in connection with penny stock transactions.

Code of Federal Regulations, 2012 CFR

2012-04-01

... associated persons in connection with penny stock transactions. 240.15g-5 Section 240.15g-5 Commodity and... connection with penny stock transactions. (a) General. It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless the broker or dealer...

17 CFR 240.15g-5 - Disclosure of compensation of associated persons in connection with penny stock transactions.

Code of Federal Regulations, 2011 CFR

2011-04-01

... associated persons in connection with penny stock transactions. 240.15g-5 Section 240.15g-5 Commodity and... connection with penny stock transactions. (a) General. It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless the broker or dealer...

17 CFR 240.15g-5 - Disclosure of compensation of associated persons in connection with penny stock transactions.

Code of Federal Regulations, 2014 CFR

2014-04-01

... associated persons in connection with penny stock transactions. 240.15g-5 Section 240.15g-5 Commodity and... connection with penny stock transactions. (a) General. It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless the broker or dealer...

17 CFR 240.15g-5 - Disclosure of compensation of associated persons in connection with penny stock transactions.

Code of Federal Regulations, 2010 CFR

2010-04-01

... associated persons in connection with penny stock transactions. 240.15g-5 Section 240.15g-5 Commodity and... connection with penny stock transactions. (a) General. It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless the broker or dealer...

Revised white pine stocking guide for managed stands

Treesearch

William B. Leak; Neil I. Lamson

1999-01-01

Stocking guides are basic tools for forest managers. They provide estimates of the range in acceptable stocking for full occupancy of the site. The first stocking guide for white pine was developed by Philbrook et al (1973). It was of conventional format: showing trees and basal area per acre (in the main crown canopy) by mean stand dbh (the tree of average basal area...

Improving Estimates of Acceptable Growiing Stock in Young Upland Oak Forests in the Missouri Ozarks

Treesearch

Daniel C. Dey; Paul S. Johnson; H.E. Garrett

1998-01-01

Estimates of regeneration or growing stock in young oak forests may be too high unless criteria are established that define explicitly acceptable growing stock. In young hardwood stands, crown class can be used to identify acceptable growing stock because it is related to the future growth and survival of reproduction. A method is presented for assigning crown class...

Climatic regions as an indicator of forest coarse and fine woody debris carbon stocks in the United States

Treesearch

Christopher W. Woodall; Greg C. Liknes

2008-01-01

Coarse and fine woody debris are substantial forest ecosystem carbon stocks; however, there is a lack of understanding how these detrital carbon stocks vary across forested landscapes. Because forest woody detritus production and decay rates may partially depend on climatic conditions, the accumulation of coarse and fine woody debris carbon stocks in forests may be...

Shifts in relative stocking of common tree species in Kentucky from 1975 to 2004

Treesearch

Christopher M. Oswalt; Jeffrey A. Stringer; Jeffery A. Turner

2008-01-01

Changes in species-specific relative stocking indicate the extent to which a species is either increasing or decreasing in a particular system. Changes in relative stocking values of common tree species in Kentucky from 1988 to 2004 were compared to values calculated for 1975 to 1988. Mean annual increase in relative stocking between 1988 and 2004 was greatest for...

26 CFR 1.1248-3 - Earnings and profits attributable to stock in complex cases.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 2. (5) Share or block. In general, the computation under this paragraph shall be made separately for each share of stock sold or exchanged, except that if a group of shares constitute a block of stock the computation may be made in respect of the block. For purposes of this section, the term block of stock means a...

26 CFR 1.1248-3 - Earnings and profits attributable to stock in complex cases.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 2. (5) Share or block. In general, the computation under this paragraph shall be made separately for each share of stock sold or exchanged, except that if a group of shares constitute a block of stock the computation may be made in respect of the block. For purposes of this section, the term block of stock means a...

26 CFR 1.1248-3 - Earnings and profits attributable to stock in complex cases.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 2. (5) Share or block. In general, the computation under this paragraph shall be made separately for each share of stock sold or exchanged, except that if a group of shares constitute a block of stock the computation may be made in respect of the block. For purposes of this section, the term block of stock means a...

26 CFR 1.1248-3 - Earnings and profits attributable to stock in complex cases.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 2. (5) Share or block. In general, the computation under this paragraph shall be made separately for each share of stock sold or exchanged, except that if a group of shares constitute a block of stock the computation may be made in respect of the block. For purposes of this section, the term block of stock means a...

26 CFR 1.1248-3 - Earnings and profits attributable to stock in complex cases.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 2. (5) Share or block. In general, the computation under this paragraph shall be made separately for each share of stock sold or exchanged, except that if a group of shares constitute a block of stock the computation may be made in respect of the block. For purposes of this section, the term block of stock means a...

Effects of seabird nitrogen input on biomass and carbon accumulation after 50 years of primary succession on a young volcanic island, Surtsey

NASA Astrophysics Data System (ADS)

Leblans, N. I. W.; Sigurdsson, B. D.; Roefs, P.; Thuys, R.; Magnússon, B.; Janssens, I. A.

2014-05-01

What happens during primary succession after the first colonizers have occupied a pristine surface largely depends on how they ameliorate living conditions for other species. For vascular plants the onset of soil development and associated increase in nutrient (mainly nitrogen, N) and water availability is especially important. Here, we report the relation between N accumulation and biomass- and ecosystem carbon (C) stocks in a 50 year old volcanic island, Surtsey, in Iceland, where N stocks are still exceptionally low. However, 27 year old seagull colony on the island provided nutrient-enriched areas, which enabled us to assess the relationship between N stock and biomass- and ecosystem C stocks across a much larger range in N stock. Further, we compared areas on shallow and deep tephra sands as we expected that deep-rooted systems would be more efficient in retaining N. The sparsely vegetated area outside the colony was more efficient in N retention than we expected and had accumulated 0.7 kg N ha-1 yr-1, which was ca. 60% of the estimated N input rate from wet deposition. The seagulls have added, on average, 47 kg N ha-1 yr-1, which induced a shift from belowground to aboveground in ecosystem N and C stocks and doubled the ecosystem "N use efficiency", determined as the ratio of biomass and C storage per unit N input. Soil depth did not significantly affect total N stocks, which suggests a high N retention potential. Both total ecosystem biomass and C stocks were strongly correlated with N stock inside the colony, which indicated the important role of N during the first steps of primary succession. Inside the colony, the ecosystem biomass C stocks (17-27 kg C ha-1) had reached normal values for grasslands, while the soil organic carbon stocks (SOC; 4-10 kg C ha-1) were only a fraction of normal grassland values. Thus, it will take a long time until the SOC stock reaches equilibrium with the current primary production; during which conditions for new colonists may change.

Effects of seabird nitrogen input on biomass and carbon accumulation after 50 years of primary succession on a young volcanic island, Surtsey

NASA Astrophysics Data System (ADS)

Leblans, N. I. W.; Sigurdsson, B. D.; Roefs, P.; Thuys, R.; Magnússon, B.; Janssens, I. A.

2014-11-01

What happens during primary succession after the first colonizers have occupied a pristine surface largely depends on how they ameliorate living conditions for other species. For vascular plants the onset of soil development and associated increase in nutrient (mainly nitrogen; N) and water availability is especially important. Here, we report the relationship between N accumulation and biomass and ecosystem carbon (C) stocks in a 50-year-old volcanic island, Surtsey, Iceland, where N stocks are still exceptionally low. However, a 28-year-old seagull colony on the island provided nutrient-enriched areas, which enabled us to assess the relationship between N stock and biomass and ecosystem C stocks across a much larger range in N stock. Further, we compared areas on shallow and deep tephra sands as we expected that deep-rooted systems would be more efficient in retaining N. The sparsely vegetated area outside the colony had accumulated 0.7 kg N ha-1 yr-1, which was ca. 50-60% of the estimated N input rate from wet deposition. This approximates values for systems under low N input and bare dune habitats. The seagulls have added, on average, 47 kg N ha-1 yr-1, which induced a shift from belowground to aboveground in ecosystem N and C stocks and doubled the ecosystem N-use efficiency, determined as the ratio of biomass and C storage per unit N input. Soil depth did not significantly affect total N stocks, which suggests a high N retention potential. Both total ecosystem biomass and C stocks were strongly correlated with N stock inside the colony, which indicated the important role of N during the first steps of primary succession. Inside the colony, the ecosystem biomass C stocks (17-27 ton C ha-1) had reached normal values for grasslands, while the soil organic carbon (SOC) stocks (4-10 ton C ha-1 were only a fraction of normal grassland values. Thus, it will take a long time until the SOC stock reaches equilibrium with the current primary production, during which conditions for new colonists may change.

SMS for Life: a pilot project to improve anti-malarial drug supply management in rural Tanzania using standard technology

PubMed Central

2010-01-01

Background Maintaining adequate supplies of anti-malarial medicines at the health facility level in rural sub-Saharan Africa is a major barrier to effective management of the disease. Lack of visibility of anti-malarial stock levels at the health facility level is an important contributor to this problem. Methods A 21-week pilot study, 'SMS for Life', was undertaken during 2009-2010 in three districts of rural Tanzania, involving 129 health facilities. Undertaken through a collaborative partnership of public and private institutions, SMS for Life used mobile telephones, SMS messages and electronic mapping technology to facilitate provision of comprehensive and accurate stock counts from all health facilities to each district management team on a weekly basis. The system covered stocks of the four different dosage packs of artemether-lumefantrine (AL) and quinine injectable. Results Stock count data was provided in 95% of cases, on average. A high response rate (≥ 93%) was maintained throughout the pilot. The error rate for composition of SMS responses averaged 7.5% throughout the study; almost all errors were corrected and messages re-sent. Data accuracy, based on surveillance visits to health facilities, was 94%. District stock reports were accessed on average once a day. The proportion of health facilities with no stock of one or more anti-malarial medicine (i.e. any of the four dosages of AL or quinine injectable) fell from 78% at week 1 to 26% at week 21. In Lindi Rural district, stock-outs were eliminated by week 8 with virtually no stock-outs thereafter. During the study, AL stocks increased by 64% and quinine stock increased 36% across the three districts. Conclusions The SMS for Life pilot provided visibility of anti-malarial stock levels to support more efficient stock management using simple and widely available SMS technology, via a public-private partnership model that worked highly effectively. The SMS for Life system has the potential to alleviate restricted availability of anti-malarial drugs or other medicines in rural or under-resourced areas. PMID:20979633

Mixed-species allometric equations and estimation of aboveground biomass and carbon stocks in restoring degraded landscape in northern Ethiopia

NASA Astrophysics Data System (ADS)

Mokria, Mulugeta; Mekuria, Wolde; Gebrekirstos, Aster; Aynekulu, Ermias; Belay, Beyene; Gashaw, Tadesse; Bräuning, Achim

2018-02-01

Accurate biomass estimation is critical to quantify the changes in biomass and carbon stocks following the restoration of degraded landscapes. However, there is lack of site-specific allometric equations for the estimation of aboveground biomass (AGB), which consequently limits our understanding of the contributions of restoration efforts in mitigating climate change. This study was conducted in northwestern Ethiopia to develop a multi-species allometric equation and investigate the spatial and temporal variation of C-stocks following the restoration of degraded landscapes. We harvested and weighed 84 trees from eleven dominant species from six grazing exclosures and adjacent communal grazing land. We observed that AGB correlates significantly with diameter at stump height D 30 (R 2 = 0.78 P < 0.01), and tree height H (R 2 = 0.41, P < 0.05). Our best model, which includes D 30 and H as predictors explained 82% of the variations in AGB. This model produced the lowest bias with narrow ranges of errors across different diameter classes. Estimated C-stock showed a significant positive correlation with stem density (R 2 = 0.80, P < 0.01) and basal area (R 2 = 0.84, P < 0.01). At the watershed level, the mean C-stock was 3.8 (±0.5) Mg C ha-1. Plot-level C-stocks varied between 0.1 and 13.7 Mg C ha-1. Estimated C-stocks in three- and seven-year-old exclosures exceeded estimated C-stock in the communal grazing land by 50%. The species that contribute most to C-stocks were Leucaena sp. (28%), Calpurnia aurea (21%), Euclea racemosa (20.9%), and Dodonaea angustifolia (15.8%). The equations developed in this study allow monitoring changes in C-stocks and C-sequestration following the implementation of restoration practices in northern Ethiopia over space and time. The estimated C-stocks can be used as a reference against which future changes in C-stocks can be compared.

SMS for Life: a pilot project to improve anti-malarial drug supply management in rural Tanzania using standard technology.

PubMed

Barrington, Jim; Wereko-Brobby, Olympia; Ward, Peter; Mwafongo, Winfred; Kungulwe, Seif

2010-10-27

Maintaining adequate supplies of anti-malarial medicines at the health facility level in rural sub-Saharan Africa is a major barrier to effective management of the disease. Lack of visibility of anti-malarial stock levels at the health facility level is an important contributor to this problem. A 21-week pilot study, 'SMS for Life', was undertaken during 2009-2010 in three districts of rural Tanzania, involving 129 health facilities. Undertaken through a collaborative partnership of public and private institutions, SMS for Life used mobile telephones, SMS messages and electronic mapping technology to facilitate provision of comprehensive and accurate stock counts from all health facilities to each district management team on a weekly basis. The system covered stocks of the four different dosage packs of artemether-lumefantrine (AL) and quinine injectable. Stock count data was provided in 95% of cases, on average. A high response rate (≥ 93%) was maintained throughout the pilot. The error rate for composition of SMS responses averaged 7.5% throughout the study; almost all errors were corrected and messages re-sent. Data accuracy, based on surveillance visits to health facilities, was 94%. District stock reports were accessed on average once a day. The proportion of health facilities with no stock of one or more anti-malarial medicine (i.e. any of the four dosages of AL or quinine injectable) fell from 78% at week 1 to 26% at week 21. In Lindi Rural district, stock-outs were eliminated by week 8 with virtually no stock-outs thereafter. During the study, AL stocks increased by 64% and quinine stock increased 36% across the three districts. The SMS for Life pilot provided visibility of anti-malarial stock levels to support more efficient stock management using simple and widely available SMS technology, via a public-private partnership model that worked highly effectively. The SMS for Life system has the potential to alleviate restricted availability of anti-malarial drugs or other medicines in rural or under-resourced areas.

White noise effects of U.S. crude oil spot prices on stock prices of a publicly traded company: A case study cross-correlation analysis based on green energy management theory

NASA Astrophysics Data System (ADS)

Roberts, Peter M.

The purpose of this study was to examine white noise effects of U.S. crude oil spot prices on the stock prices of a green energy company. Epistemological, Phenomenological, Axiological and Ontological assumptions of Green Energy Management (GEM) Theory were utilized for selecting Air Products and Chemicals Inc. (APD) as the case study. Exxon Mobil (XOM) was used as a control for triangulation purposes. The period of time examined was between January of 1999 and December of 2008. Monthly stock prices for APD and XOM for the ten year period of time were collected from the New York Stock Exchange. Monthly U.S. crude oil spot prices for the ten year period of time were collected from the US Energy Information Administration. The data was entered into SPSS 17.0 software in order to conduct cross-correlation analysis. The six cross-correlation assumptions were satisfied in order to conduct a Cross-correlation Mirror Test (CCMT). The CCMT established the lag time direction and verified that U.S. crude oil spot prices serve as white noise for stock prices of APD and XOM. The Theory of Relative Weakness was employed in order to analyze the results. A 2 year period of time between December, 2006 and December, 2008 was examined. The correlation coefficient r = - .155 indicates that U.S. crude oil spot prices lead APD stock prices by 4 months. During the same 2 year period of time, U.S. crude oil spot prices lead XOM stock prices by 4 months at r = -.283. XOM stock prices and APD stock prices were positively correlated with 0 lag in time with a positive r = .566. The 4 month cycle was an exact match between APD stock prices, XOM stock prices and U.S. crude oil spot prices. The 4 month cycle was due to the random price fluctuation of U.S. crude oil spot prices that obscured the true stock prices of APD and XOM for the 2 year period of time.

Impact of drug stock-outs on death and retention to care among HIV-infected patients on combination antiretroviral therapy in Abidjan, Côte d'Ivoire.

PubMed

Pasquet, Armelle; Messou, Eugène; Gabillard, Delphine; Minga, Albert; Depoulosky, Ayeby; Deuffic-Burban, Sylvie; Losina, Elena; Freedberg, Kenneth A; Danel, Christine; Anglaret, Xavier; Yazdanpanah, Yazdan

2010-10-15

To evaluate the type and frequency of antiretroviral drug stock-outs, and their impact on death and interruption in care among HIV-infected patients in Abidjan, Côte d'Ivoire. We conducted a cohort study of patients who initiated combination antiretroviral therapy (cART) in three adult HIV clinics between February 1, 2006 and June 1, 2007. Follow-up ended on February 1, 2008. The primary outcome was cART regimen modification, defined as at least one drug substitution, or discontinuation for at least one month due to drug stock-outs at the clinic pharmacy. The secondary outcome for patients who were on cART for at least six months was interruption in care, or death. A Cox regression model with time-dependent variables was used to assess the impact of antiretroviral drug stock-outs on interruption in care or death. Overall, 1,554 adults initiated cART and were followed for a mean of 13.2 months. During this time, 72 patients discontinued treatment and 98 modified their regimen because of drug stock-outs. Stock-outs involved nevirapine and fixed-dose combination zidovudine/lamivudine in 27% and 51% of cases. Of 1,554 patients, 839 (54%) initiated cART with fixed-dose stavudine/lamivudine/nevirapine and did not face stock-outs during the study period. Among the 975 patients who were on cART for at least six months, stock-out-related cART discontinuations increased the risk of interruption in care or death (adjusted hazard ratio [HR], 2.83; 95%CI, 1.25-6.44) but cART modifications did not (adjusted HR, 1.21; 95%CI, 0.46-3.16). cART stock-outs affected at least 11% of population on treatment. Treatment discontinuations due to stock-outs were frequent and doubled the risk of interruption in care or death. These stock-outs did not involve the most common first-line regimen. As access to cART continues to increase in sub-Saharan Africa, first-line regimens should be standardized to decrease the probability of drug stock-outs.

Carbon stocks of three secondary coniferous forests along an altitudinal gradient on Loess Plateau in inland China

PubMed Central

Liu, Ning; Nan, Hongwei

2018-01-01

Natural forests in inland China are generally distributed in montane area and secondary due to a semi-arid climate and past anthropogenic disturbances. However, quantification of carbon (C) stock in these forests and the role of altitude in determining C storage and its partition among ecosystem components are unclear. We sampled 54 stands of three secondary coniferous forests (Larix principis-rupprechtii (LP) forest, Picea meyerii (PM) forest and Pinus tabulaeformis (PT) forest) on Loess Plateau in an altitudinal range of 1200-2700m a.s.l. C stocks of tree layer, shrub layer, herb layer, coarse wood debris, forest floor and soil were estimated. We found these forests had relatively high total C stocks. Driven by both higher vegetation and soil C stocks, total C stocks of LP and PM forests in the high altitudinal range were 375.0 and 368.4 t C ha-1 respectively, significantly higher than that of PT forest in the low altitudinal range (230.2 t C ha-1). In addition, understory shrubs accounted for about 20% of total biomass in PT forest. The proportions of vegetation to total C stock were similar among in the three forests (below 45%), so were the proportions of soil C stock (over 54%). Necromass C stocks were also similar among these forests, but their proportions to total C stock were significantly lower in LP and PM forests (1.4% and 1.6%) than in PT forest (3.0%). Across forest types, vegetation biomass and soil C stock simultaneously increased with increasing altitude, causing fairly unchanged C partitioning among ecosystem components along the altitudinal gradient. Soil C stock also increased with altitude in LP and PT forests. Forest floor necromass decreased with increasing altitude across the three forests. Our results suggest the important role of the altitudinal gradient in C sequestration and floor necromass of these three forests in terms of alleviated water conditions and in soil C storage of LP and PM forests in terms of temperature change. PMID:29723254