439 research outputs found
A Risk Management Approach for Portfolio Insurance Strategies
No full textControlling and managing potential losses is one of the main objectives of the Risk Management. Following Ben Ameur and Prigent (2007) and Chen et al. (2008), and extending the first results by Hamidi et al. (2009) when adopting a risk management approach for defining insurance portfolio strategies, we analyze and illustrate a specific dynamic portfolio insurance strategy depending on the Value-at-Risk level of the covered portfolio on the French stock market. This dynamic approach is derived from the traditional and popular portfolio insurance strategy (Cf. Black and Jones, 1987 ; Black and Perold, 1992) : the so-called "Constant Proportion Portfolio Insurance" (CPPI). However, financial results produced by this strategy crucially depend upon the leverage - called the multiple - likely guaranteeing a predetermined floor value whatever the plausible market evolutions. In other words, the unconditional multiple is defined once and for all in the traditional setting. The aim of this article is to further examine an alternative to the standard CPPI method, based on the determination of a conditional multiple. In this time-varying framework, the multiple is conditionally determined in order to remain the risk exposure constant, even if it also depends upon market conditions. Furthermore, we propose to define the multiple as a function of an extended Dynamic AutoRegressive Quantile model of the Value-at-Risk (DARQ-VaR). Using a French daily stock database (CAC 40) and individual stocks in the period 1998-2008), we present the main performance and risk results of the proposed Dynamic Proportion Portfolio Insurance strategy, first on real market data and secondly on artificial bootstrapped and surrogate data. Our main conclusion strengthens the previous ones : the conditional Dynamic Strategy with Constant-risk exposure dominates most of the time the traditional Constant-asset exposure unconditional strategies.CPPI, Portfolio insurance, VaR, CAViaR, quantile regression, dynamic quantile model.
Intel Corp. v. Hamidi: Tresspas to Chattels, the Internet\u27s Greatest Antagonist?
No full textThis Casenote examines the recent California Court of Appeals decision in Intel Corp. v. Hamidi and argues that by departing from the strict common law requirements and upholding a permanent injunction on the grounds of trespass to chattels, the court destroyed the elements and reasons that underlie the tort of trespass to chattels, in essence creating a new tort. The author argues that in doing so the court rejected the traditional definition of trespass to chattels and paved the way for absurd judicial results that have the potential to result in enormous adverse consequences
A descriptive study of the decision processes used by managers from small and medium-sized enterprises whether to participate in government-sponsored training programs in Malaysia
No full textThis study described the decision processes used by managers from small-medium enterprises (SMEs) whether to participate in government-sponsored training programs in Malaysia. Research discovered that SMEs are critical for a nation’s economic development, and training programs provided by governments can help promote the productivity of organizations. However, research revealed that the level of participation for SMEs is relatively low. Until now, there is limited information about how managers of SMEs make decisions about whether to send their employees to government-sponsored training programs, which potentially help the organization. Thus, decision processes of managers were the focus of this study, offering to provide an in-depth understanding of phenomena. This understanding is vital for the policy developments made by selected government agencies entrusted to assist with the development of SMEs via the provision of training programs. Moreover, Bounded Rationality Theory provided a theoretical framework for this study of small and medium enterprises in a city in East Malaysia.
Six research questions guided this study. The study used the methods of Interpretative Phenomenological Analysis outlined by Willig (2013). Eight respondents contributed to the study. Data collection was conducted in two phases. The first phase involved an in-depth individual semi-structured interview. The second phase involved a group discussion. Four SME managers were involved in the group session. Data were supplemented by the author’s field notes and reflective journal. Data were analyzed using the guidelines outlined by Willig’s (2013) IPA approach. Each research question was answered and discussed. Based on these findings, policy implications, suggestions and limitations of the study were discussed.Submission published under a 24 month embargo labeled 'U of I Access', the embargo will last until 2021-05-01The student, Hana Hamidi, accepted the attached license on 2019-04-11 at 21:08.The student, Hana Hamidi, submitted this Dissertation for approval on 2019-04-11 at 21:25.This Dissertation was approved for publication on 2019-04-15 at 11:21.DSpace SAF Submission Ingestion Package generated from Vireo submission #13573 on 2019-08-22 at 15:05:57Made available in DSpace on 2019-08-23T20:35:51Z (GMT). No. of bitstreams: 3
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Investigation of robotic welding process by using RobotStudio™5.10 and ABB robot / Shahfuan Hanif Ahmad Hamidi
No full textThis project discussed about the investigation of robotic welding using RobotStudio™5.10 Software and ABB Robot. In this project there are two approaches that have been taken, simulation and execution. In simulation, there are several steps need to be carried out. Those are CAD modeling, layout arrangement, and rapid programming which are available on RobotStudio™5.10 Software. The author makes some study cases on this software on basic understanding for the readers. The study cases are including simple geometry for generating rapid program, I/O programming where in creating signal with other devices and advanced rapid programming by creating new movement function. In execution approach, the author executes a rapid programming directly to ABB robot. These activities required some preparation before, during, and after execution. Therefore, the author used example of ship panel structure to adapt all the preparation that need to be carried out. This example is documented together with the suitable welding parameter. In conclusion, by reading this book, readers should have general ideas of basic fundamental in applying in simulation and execution of robotic. They also know about the advantages of the software and the robot itself
A Risk Management Approach for Portfolio Insurance Strategies
No full textURL des Documents de travail : http://ces.univ-paris1.fr/cesdp/CESFramDP2009.htmClassification JEL : G11, C13, C14, C22, C32.Documents de travail du Centre d'Economie de la Sorbonne 2009.34 - ISSN : 1955-611XControlling and managing potential losses is one of the main objectives of the Risk Management. Following Ben Ameur and Prigent (2007) and Chen et al. (2008), and extending the first results by Hamidi et al. (2009) when adopting a risk management approach for defining insurance portfolio strategies, we analyze and illustrate a specific dynamic portfolio insurance strategy depending on the Value-at-Risk level of the covered portfolio on the French stock market. This dynamic approach is derived from the traditional and popular portfolio insurance strategy (Cf. Black and Jones, 1987 ; Black and Perold, 1992) : the so-called "Constant Proportion Portfolio Insurance" (CPPI). However, financial results produced by this strategy crucially depend upon the leverage - called the multiple - likely guaranteeing a predetermined floor value whatever the plausible market evolutions. In other words, the unconditional multiple is defined once and for all in the traditional setting. The aim of this article is to further examine an alternative to the standard CPPI method, based on the determination of a conditional multiple. In this time-varying framework, the multiple is conditionally determined in order to remain the risk exposure constant, even if it also depends upon market conditions. Furthermore, we propose to define the multiple as a function of an extended Dynamic AutoRegressive Quantile model of the Value-at-Risk (DARQ-VaR). Using a French daily stock database (CAC 40) and individual stocks in the period 1998-2008), we present the main performance and risk results of the proposed Dynamic Proportion Portfolio Insurance strategy, first on real market data and secondly on artificial bootstrapped and surrogate data. Our main conclusion strengthens the previous ones : the conditional Dynamic Strategy with Constant-risk exposure dominates most of the time the traditional Constant-asset exposure unconditional strategies.Evaluer, contrôler et gérer les pertes potentielles est un des objectifs principaux de la gestion des risques. Suivant Ben Ameur et Prigent (2007) et Chen et alii (2008) et étendant les premiers résultats de Hamidi et alii (2009), nous adoptons une stratégie d'assurance de portefeuille conforme aux problématiques de la gestion des risques. Cette stratégie dynamique d'assurance de portefeuille dont le levier dépend d'un modèle dynamique autorégressif de quantile est illustrée sur le marché des actions françaises sur des données réelles et simulées. Nos conclusions renforcent les résultats précédents : les stratégies dynamiques à exposition constante au risque dominent la plus part du temps les stratégies inconditionnelles
Mapping connectivity and conflict risk to identify safe corridors for the Persian leopard
No full textA Risk Management Approach for Portfolio Insurance Strategies.
No full textControlling and managing potential losses is one of the main objectives of the Risk Management. Following Ben Ameur and Prigent (2007) and Chen et al. (2008), and extending the first results by Hamidi et al. (2009) when adopting a risk management approach for defining insurance portfolio strategies, we analyze and illustrate a specific dynamic portfolio insurance strategy depending on the Value-at-Risk level of the covered portfolio on the French stock market. This dynamic approach is derived from the traditional and popular portfolio insurance strategy (Cf. Black and Jones, 1987 ; Black and Perold, 1992) : the so-called "Constant Proportion Portfolio Insurance" (CPPI). However, financial results produced by this strategy crucially depend upon the leverage - called the multiple - likely guaranteeing a predetermined floor value whatever the plausible market evolutions. In other words, the unconditional multiple is defined once and for all in the traditional setting. The aim of this article is to further examine an alternative to the standard CPPI method, based on the determination of a conditional multiple. In this time-varying framework, the multiple is conditionally determined in order to remain the risk exposure constant, even if it also depends upon market conditions. Furthermore, we propose to define the multiple as a function of an extended Dynamic AutoRegressive Quantile model of the Value-at-Risk (DARQ-VaR). Using a French daily stock database (CAC 40) and individual stocks in the period 1998-2008), we present the main performance and risk results of the proposed Dynamic Proportion Portfolio Insurance strategy, first on real market data and secondly on artificial bootstrapped and surrogate data. Our main conclusion strengthens the previous ones : the conditional Dynamic Strategy with Constant-risk exposure dominates most of the time the traditional Constant-asset exposure unconditional strategies.CPPI, portfolio insurance, VaR, CAViaR, quantile regression, dynamic quantile model.
Health services financing and delivery: analysis of policy options for Dubai, United Arab Emirates
No full textSamer Hamidi School of Health and Environmental Studies, Hamdan Bin Mohammed Smart University, Dubai, United Arab Emirates Introduction: A national health account (NHA) provides a systematic approach to mapping the flow of health sector funds within a specified health system over a defined time period. This article attempts to present a profile of health system financing in Dubai, United Arab Emirates using data from NHAs, and to compare the functional structures of financing schemes in Dubai with schemes in Qatar and selected member countries of the Organization for Economic Cooperation and Development (OECD). Methods: The author analyzed secondary data published in NHAs of Dubai and Qatar and data collected by the OECD countries and publicly available from Eurostat (Statistical Office of the European Union) of 25 OECD countries for comparative analysis. All health financing indicators used were as defined in the international System of Health Accounts (SHA). Results: In Dubai, spending on inpatient care was the highest-costing component, with 30% of current health expenditures (CHE). Spending on outpatient care was the second highest-costing component and accounted for about 23% of the CHE. Household spending accounted for about 22% of CHE (equivalent to US$187 per capita), compared to an average of 20% of CHE of OECD countries. Dubai spent 0.02% of CHE on long-term care, compared to an average of 11% of CHE of OECD countries. Dubai spent about 6% of CHE on prevention and public health services, compared to an average of 3.2% of CHE of OECD countries. Conclusion: The findings point to potential opportunities for growth and improvement in several health policy issues in Dubai, including increasing focus and funding of preventive services; shifting from inpatient care to day surgery, outpatient, and home-based services and strengthening long-term care; and introducing cost-containment measures for pharmaceuticals. More investment in the translation of NHA data into policy is suggested for future researchers. Keywords: health finance schemes, health delivery, health polic
Perancangan Institut Kaligrafi Islam Internasional al-Hamidi di Jombang: Tema calligraphy as architecture
No full textINDONESIA:
Kaligrafi adalah seni yang dihargai paling tinggi di dalam kebudayaan Islam. Ini karena perannya yang signifikan dalam melukiskan firman Allah. Adapun perintah Allah akan pentingnya menulis di dalam Al-Qur’an disampaikan dengan tegas dalam surat al-‘Alaq ayat 1-5. Kaligrafi memiliki aspek-aspek ruhaniyah yang mengarahkan transendensi ketauhidan karena mampu mendekatkan diri kepada sang pencipta. Aspek ruhaniyah adalah kesatuan dari seni kaligrafi yang melekat pada setiap penulisnya. Sehingga peran kaligrafi sangat penting dalam pembentukan karakter penulisnya. Hal inilah yang membuat pendidikan kaligrafi penting, selain untuk melestarikan kebudayaan Islam juga penting membentuk pribadi berakhlakul karimah. Perancangan Institut Kaligrafi Islam Internasional Al-hamidi ini berfungsi untuk mewadahi para pecinta kaligrafi untuk tetap menjaga seni yang murni dari Islam ini. Institut ini mewadahi pendidikan dan pembelajaran kaligrafi secara mendalam yang diperuntukkan untuk mahasiwa yang menempuh pendidikan akademik untuk memperoleh keprofesionalitas di bidang kaligrafi. Pemilihan lokasi di Jombang yang dikenal sebagai kota santri merupakan lokasi yang strategis karena banyak sekali pondok pesantren yang mengajarkan ilmu agama sehingga banyak minat dan bakat di bidang kaligrafi yang mendukung adanya institut ini.
Calligraphy As Architecture digunakan untuk menghadirkan ruh kaligrafi ke dalam arsitektur. Prinsip-prinsip kaligrafi meliputi Tawfiyah, Itman, Ikmal, Isyba’ dan Irsal di interpretasikan ke dalam arsitektur untuk mewujudkan kesatuan Antara arsitektur dan kaligrafi. Konsep yang digunakan adalah titik dan garis dimana titik dan garis adalah elemen penting di dalam kaligrafi yang mempengaruhi kaidah dalam penulisan kaligrafi. Titik dan garis di jadikan acuan dalam penulisan kaligrafi sesuai kaidahnya. Pentingnya elemen titik dan garis dalam kaligrafi, elemen ini juga penting di dalam arsitektur. Dimana keduanya saling berkaitan. Dengan menerapkan kelima prinsip kaligrafi ke dalam arsitektur maka konsep titik dan garis dapat tersampaikan untuk mengimplementasikan Calligraphy As Architecture.
ENGLISH:
Calligraphy is the art of the highest valued in Islamic culture. This is because a significant role in delineating the word of God. As for the importance of God's command post in the Qur'an emphatically conveyed in a letter al-'Alaq verses 1-5. Calligraphy has aspects that direct spirit of monotheism transcendence of being able to get closer to The Creator. Spiritual aspect is the unity of the art of calligraphy is attached to each author. So the role of calligraphy is very important in shaping the character of the author. This makes an important calligraphy education, in addition to preserving Islamic culture are also important personal form a good personality. Designing Institute of the International Islamic Calligraphy Al-Hamidi serves to accommodate the calligraphy lovers to keep the pure art of Islam. Institute embodies education and learning calligraphy in depth that cater to students who take academic education to obtain professionalism in the field of calligraphy. The choice of location in Jombang, known as the city of the students is a strategic location because a lot of boarding schools that teach the science of religion so much interest and talent in the field of calligraphy that supports the existence of this institute.
Calligraphy As Architecture is used to bring the spirit of calligraphy into architecture. The principles of calligraphy include Tawfiyah, Itman, Ikmal, Isyba 'and Irsal interpreted into architecture to realize the unity between architecture and calligraphy. The concept is used and the point where the line of dots and dashes is an important element in influencing the rules of calligraphy writing calligraphy. Dots and lines made reference in accordance calligraphy writing the rule. The importance of point and line elements in calligraphy, is also an important element in the architecture. Where both are interrelated. By applying the five principles of calligraphy into the architecture, the concept of points and lines can be delivered to implement Calligraphy As Architecture
Evidence from the national health account: the case of Dubai
No full textSamer Hamidi School of Health and Environmental Studies, Hamadan Bin Mohammad Smart University, Dubai, United Arab Emirates Introduction: National health accounts (NHAs) provide useful information to aid in understanding the health care financing system. This article aims to present a profile of health system financing in Dubai using data from the NHA. We also aim to compare the provider structure of financing schemes in Dubai with those of the State of Qatar and selected Organization for Economic Cooperation and Development (OECD) countries. Methods: The author analyzed secondary data published in NHAs for Dubai and Qatar, and data collected by the OECD countries and publicly available from the Statistical Office of the European Union (Eurostat), for 25 OECD countries for comparative analysis. All health financing measures used are as defined in the international System of Health Accounts (SHA). Results: In Dubai, only 33% of current health expenditure (CHE) is funded by the government. However, the public sector is the main source of health funding in Qatar and most OECD countries, with an average of 79% and 72%, respectively. Households in Dubai spent about 22% of CHE, equivalent to an average US$187 per capita, ranking the highest among Gulf Cooperation Council (GCC) countries, and compared with 20% of CHE across OECD countries. Hospitals in Dubai accounted for 48% of CHE, which is much higher than Qatar (40%) and the OECD average (36%). Conclusion: The Dubai health care financing system differs substantially from that in OECD countries, as it is more private oriented. The findings point to several potential opportunities for growth and improvement. Policy areas that may be addressed using the information presented in this article are broad and include the following: shift from hospital care to ambulatory and day care, sustainability of health finance, shift the cost of health care to the private sector, introduce cost-containment measures, revise payment systems for health providers, and produce subnational accounts for non-communicable diseases. More investment in the translation of national health account data into policy is suggested for future researchers. Keywords: Dubai, health finance, health account, health expenditure
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