181 research outputs found
Consumer sentiment and Indonesia’s stock returns
No full text© Buletin Ekonomi Moneter dan Perbankan 2020. All Rights Reserved. This paper examines whether consumer sentiment predicts the excess returns of the aggregate market and nine industries from the Indonesia equity market. We discover evidence of predictability for three industries; however, the magnitude of predictability are heterogeneous. Some sectors are predictable during expansions, whereas others are only predictable during recessions. There is no evidence of the reversal of the impact of consumer sentiment on stock returns. We conduct several robustness tests that include (i) estimating a predictive regression model with a feasible quasi-generalized least squares–based estimator and (ii) accounting for structural breaks. These tests confirm the baseline results
Commodity futures returns and policy uncertainty
No full text© 2020 Elsevier Inc. This paper investigates whether economic policy uncertainty is predictable using three sets of commodity futures market variables, namely the equal-weighted average of futures excess returns, the excess returns on a portfolio of going long in backwardated commodities, and the excess returns on a portfolio of going short in contango commodities as predictors. We find significant evidence of both in-sample and out-of-sample predictability. Combination forecasts also reveal strong evidence of predictability. Our findings remain unchanged following several robustness tests
Financial news and CDS spreads
No full text© 2020 Elsevier B.V. This paper examines whether financial news moves CDS spreads for a large number of U.S. stocks sorted into 19 panels consisting of sectors, sizes and credit quality. Using a unique financial news data set, we discover that while both positive and negative news predicts CDS spread changes in most of the panels, annualised mean–variance profits and utility gains are dominated by forecasting models that use positive news as a predictor. At best, risk factors only account for around 31% of observed profits
Computational chemistry and molecular modeling : principles and applications / K.I. Ramachandran, G. Deepa, K. Namboori.
No full text"An exclusive URL (http://www.amrita.edu/cen/ccmm/) for this book with the required support materials has been provided for readers ..."--Preface.pharmacy bookfair2015Includes bibliographical references and index.xxi, 397 pages
Micro-raman spectroscopy of caries lesion formation in dental enamel
No full textCaries lesions form by a complex process of chemical interactions between dental enamel and its environment. They can cause cavities and pain, and are expensive to fix. Lesions form by slow demineralization over many months, even years. It is hard to characterize in vivo as a result of environmental factors and remineralization by ions in the oral cavity. In this thesis the process of demineralization was carried out in vitro and micro-Raman spectroscopy used to investigate and characterize the lesion's chemistry. Demineralization occurs by diffusion across the depth of the lesion of mineral ions via interstitial spaces in the dental enamel. Hydroxyl ions are initially lost by acidic attack, which increases the interstitial space. The demineralization is retarded by diffusion processes in the opposite direction, and a balance in the charges of the ions must be maintained. Having multiple ions diffusing simultaneously is termed “coupled diffusion”. A subsurface highly demineralized region is formed, but this can be remineralized.
Micro-Raman spectroscopy is a powerful tool for studying material composition by exciting chemical bonds in the sample. Using micro-Raman to characterize the chemical composition of lesions may help in developing preventative measures to stop their formation. Raman (λ=785 nm) was used to characterize lesions grown over 5, 7, 9, 11 and 14 days. The amide I peak at ~1605 cm-1, which has not been observed previously, was seen in the maturing lesions. The extreme demineralization in these lesions enables the organic peaks to be seen rather than the normally stronger mineral peaks. Analysis of crystallinity shows that there is always a reduction in mineral content with distance below the enamel surface, but this becomes magnified as the lesion matures. Type B carbonate substitution for phosphate ions can also be examined with Raman. Correcting for crystallinity shows that both carbonate and phosphate ions are lost at the same rate during demineralization.
In summary, micro-Raman is an effective and relatively easy tool to use in lesion characterization. It also has the advantage that it can be used to identify changes in both the mineral and protein phases of enamel.M.S.Includes bibliographical references (p. 53-55)
Industry return predictability using health policy uncertainty
No full textThis paper examines how a change in health policy uncertainty affects US industry returns using monthly data from January 1985 to September 2020. We employ in-sample and out-of-sample analyses, and we find evidence that 25 out of 49 considered industries are predictable during the health crisis periods, including severe acute respiratory syndrome and the ongoing coronavirus pandemic. The out-of-sample tests corroborate the evidence for the in-sample predictability. Furthermore, using a mean–variance utility function-based trading strategy, we observe that investors can use this simple tool for their trading strategies and make profits from 2.99 to 11.44% per annum. Our findings are robust after accounting for different business cycles, macroeconomic factor effects, the fluctuation in economic policy uncertainty, and different pandemic phases. These results complement the existing literature on industry return predictability and have potential implications for asset pricing and risk management
Tail risk network analysis of Asian banks
No full textThis study aims to investigate the tail risk dependence of individual banks in Asian emerging markets. Using value at risk and conditional value at risk to measure tail risk and employing the least absolute shrinkage and selection operator regression to build the network, this study analysed interconnectedness at three levels: system-wide, country level and individual bank level. This study yields three key findings. First, banks in Asian emerging markets have a notably high tail risk network, particularly during more extreme market conditions. Second, the smaller and more interconnected banks are the most systemically important in the region, rather than the largest banks. Third, the time-varying results suggest that tail risk dependence, primarily attributed to cross-country connectivity, increased after the global financial crisis but has decreased in recent years
Corrections to “An Improved Harmonics Mitigation Scheme for a Modular Multilevel Converter” [2019 147244-147255]
No full textIn the above-named work, T. Deepa should have been listed as the second co-author of the article with the affiliation of (1): School of Electrical Engineering, Vellore Institute of Technology, Chennai 600127, India. The author's biography is also provided within this correction. Additionally, the correct zip code of affiliation (1) should be 600127, and the correct statement on financial support acknowledgement should be as follows: "This work was funded by the Renewable Energy Laboratory, Department of Communications and Networks Engineering, Prince Sultan University, Riyadh, Saudi Arabia." It is necessary to mention the nature of funding provided by Prince Sultan University and to note the correction in the spelling of the university in the same statement in the published manuscript
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