28 research outputs found
THREE ESSAYS ON INTERNATIONAL ASSET PRICING
Full text linkThe common thread running through my research is to explore the asset price dynamics across countries and across asset classes. In the first chapter of this thesis, I apply Newton's law of universal gravitation to investigate the determinants of the bilateral relationships in returns. Examining the gravity effect in a large set of countries, I find that the size of economies and geographical distance are significant determinants of the contemporaneous as well as the lead-lag correlation patterns observed in stock returns across countries. In addition, decomposing stock market returns into cash-flow and discount-rate news shows that the international transmission of country specific news is more pronounced through discount-rate news, and that the size of economies and geographical distance are significant determinants for both components of returns.
In the second chapter, based on a joint work with Redouane Elkamhi and Mikhail Simutin, we propose a diversification approach that exploits the global connectedness of developed countries to gain exposure to emerging countries' overall economies rather than their shallow equity markets. In doing so, we demonstrate that developed markets still offer substantial diversification benefits beyond those available through equity indices, contrary to a large body of literature claiming that the benefits of international diversification via developed markets have dramatically declined. Our results also suggest that relying on equity indices to assess diversification benefits understates diversification gains.
The third chapter explores the potential risk of investing in global markets. Specifically, my co-author Redouane Elkamhi and I study the two widely-known speculation strategies in the FX market, carry and momentum trades, and provide a risk-based explanation for the excess returns. We construct a common factor that drives correlation across international equity markets and show that the cross-sectional variations in the average excess returns across carry and momentum portfolios can be explained by different sensitivities to our correlation factor. By using a factor constructed from the equity market to explain abnormal return in the FX market, these findings shed light on the important linkage across the two markets through equity correlations as a main instrument of the aggregate risk.Ph.D
THREE ESSAYS ON INTERNATIONAL ASSET PRICING
No full textThe common thread running through my research is to explore the asset price dynamics across countries and across asset classes. In the first chapter of this thesis, I apply Newton's law of universal gravitation to investigate the determinants of the bilateral relationships in returns. Examining the gravity effect in a large set of countries, I find that the size of economies and geographical distance are significant determinants of the contemporaneous as well as the lead-lag correlation patterns observed in stock returns across countries. In addition, decomposing stock market returns into cash-flow and discount-rate news shows that the international transmission of country specific news is more pronounced through discount-rate news, and that the size of economies and geographical distance are significant determinants for both components of returns.
In the second chapter, based on a joint work with Redouane Elkamhi and Mikhail Simutin, we propose a diversification approach that exploits the global connectedness of developed countries to gain exposure to emerging countries' overall economies rather than their shallow equity markets. In doing so, we demonstrate that developed markets still offer substantial diversification benefits beyond those available through equity indices, contrary to a large body of literature claiming that the benefits of international diversification via developed markets have dramatically declined. Our results also suggest that relying on equity indices to assess diversification benefits understates diversification gains.
The third chapter explores the potential risk of investing in global markets. Specifically, my co-author Redouane Elkamhi and I study the two widely-known speculation strategies in the FX market, carry and momentum trades, and provide a risk-based explanation for the excess returns. We construct a common factor that drives correlation across international equity markets and show that the cross-sectional variations in the average excess returns across carry and momentum portfolios can be explained by different sensitivities to our correlation factor. By using a factor constructed from the equity market to explain abnormal return in the FX market, these findings shed light on the important linkage across the two markets through equity correlations as a main instrument of the aggregate risk.Ph.D
Corrigendum to: Enhanced Long-term Stability and Carbon Resistance of Ni/MnxOy-Al2O3 Catalyst in Near-equilibrium CO2 Reforming of Methane for Syngas Production [15(2), 2020, 331-347]
No full textAccording to Authors request (10th December 2020), Corrigendum to: Djebarri, B., Touahra, F., Aider, N., Bali, F., Sehailia, M., Chebout, R., Bachari, K., Halliche, D. (2020). Bulletin of Chemical Reaction Engineering & Catalysis, 15(2), 2020, 331-347 (doi:10.9767/bcrec.15.2.6983.331-347). First Author (Baya Djebarri) is added as member of Corresponding Author because of his largest contribution in the article and his expertise.
Correction:
The Authors Names were corrected to:
Baya Djebarri1,*, Fouzia Touahra2,*, Nadia Aider4, Ferroudja Bali3, Moussa Sehailia2, Redouane Chebout2, Khaldoun Bachari2, Djamila Halliche3
The information detail of Corresponding Authors was corrected to:
* Corresponding Authors.
Email: [email protected] (F. Touahra); [email protected] (B. Djebarri)
Copyright © 2020 by Authors, Published by BCREC Group. This is an open access article under the CC BY-SA License (https://creativecommons.org/licenses/by-sa/4.0)
Temps et fonctionnement textuel chez Rachid Mimouni
Full text linkTime and Textual Functioning at Rachid Mimouni
The temporal dimension is a variable as important as space, and it is far from lacking in interest in the work of Rachid Mimouni. In fact, the issue of time considered as a structuring factor of the event representations which punctuate the story (1) is at the very heart of his romantic enterprise. To show how temporality exercises a locating and regulating function in the Mimounian text, we distinguish four temporal aspects to which the author focuses in his writing universe: romantic time, lived time, historical time and social time
Improved Stable Read Range of the RFID Tag Using Slot Apertures and Capacitive Gaps for Outdoor Localization Applications
No full textThis paper proposes a small-size UHF RFID tag antenna, which was designed to function in the frequency interval of 860–960 MHz, with a large-read range of up to 17 m. In this work, the effects of capacitive slots and gaps on the impedance matching between conventional industrial chips and a designed RFID antenna was investigated. Simulated and measured results provided a clear indication that these two techniques can efficiently improve the return loss parameter and the antenna impedance matching behavior at the UHF band. Three-dimensional electromagnetic (EM) simulations results further proved that a better impedance matching between an industrial chip and a proposed RFID antenna occurs at 870 MHz, where the estimated input antenna impedance was about Za = 16 + j184 (Ω), and the calculated read range reached a value of up to 17 m with a measured return loss value of –14 dB. The proposed RFID antenna can almost maintain the same read range value over a 180 degree angle variations on the horizontal plane owing to its omnidirectional radiation pattern. The fabrication and test stages of the antenna prototype were scheduled to validate the simulated characteristics. Experimental results confirmed the performances of our proposed RFID tag antenna and proved its potential ability for localization applications. EM simulations have been performed using the well-known commercial EM software simulator CST MWS
1×16 Rectangular dielectric resonator antenna array for 24 Ghz automotive radar system
Full text linkThis paper presents the design of a 1×16-elements RDRA array for anticollision radar SRR application at 24 GHz. A single RDRA with high dielectric constant of 41, fed by a simple microstrip line feeding technique, is initially designed to operate around 24 GHz. The RDRA element is further used within an array network structure made up of 16 linear antenna elements to cover the same frequency band. The simulated 1×16 RDRA array can reach a high gain, up to18.6 dB, very high radiation efficiency (97%), and ensure enough directional radiation pattern properties for radar applications with a 3-dB angular beam width of 6°. To validate our design, RDRA array’ radiation pattern computed results are compared to an equivalent fabricated patch antenna array reported in the literature
Efficient Stacked Cylindrical Dielectric Resonator Antenna for Anticollision Short Range Radar at 79GHz
No full text
Efficiency of InN/InGaN/GaN Intermediate-Band Solar Cell under the Effects of Hydrostatic Pressure, In-Compositions, Built-in-Electric Field, Confinement, and Thickness
No full textThis paper presents a thorough numerical investigation focused on optimizing the efficiency of quantum-well intermediate-band solar cells (QW-IBSCs) based on III-nitride materials. The optimization strategy encompasses manipulating confinement potential energy, controlling hydrostatic pressure, adjusting compositions, and varying thickness. The built-in electric fields in (In, Ga)N alloys and heavy-hole levels are considered to enhance the results’ accuracy. The finite element method (FEM) and Python 3.8 are employed to numerically solve the Schrödinger equation within the effective mass theory framework. This study reveals that meticulous design can achieve a theoretical photovoltaic efficiency of quantum-well intermediate-band solar cells (QW-IBSCs) that surpasses the Shockley–Queisser limit. Moreover, reducing the thickness of the layers enhances the light-absorbing capacity and, therefore, contributes to efficiency improvement. Additionally, the shape of the confinement potential significantly influences the device’s performance. This work is critical for society, as it represents a significant advancement in sustainable energy solutions, holding the promise of enhancing both the efficiency and accessibility of solar power generation. Consequently, this research stands at the forefront of innovation, offering a tangible and impactful contribution toward a greener and more sustainable energy future.Dynamics of Micro and Nano System
