Miracle-dz/UniFAR-FTUs huggingface dataset:
The Optimal Selection of Small Portfolios

Portfolios that are risk-return efficient in the sense of Markowitz sometimes contain too many securities to be attractive to the small investor. An optimal portfolio subject to a size constraint can be found by an implicit enumeration algorithm, that is much faster than a previous approach and moreover allows the inclusion of securities whose β-coefficient is negative. A simple and computationally very efficient heuristic method that almost always produces optimal portfolios is described as well.
An Empirical Application and Monte Carlo Analysis of Tests of Dynamic Specification

structure of economic relationships has long been recognised (e.g. Nerlove (1972)), and has caused some researchers recently to rely almost exclusively on the methods of time series analysis for model building with economic time series data. Furthermore, a number of studies of the forecasting performance of econometric models vis a' vis that of time series models (e.g. Naylor etal (1972) and further references in Prothero and Wallis (1977)) have been interpreted as demonstrating the superiority of time series model building methodology over that of econometrics. To the extent that econometric models have been based on static economic theory, with dynamics possibly introduced via serially correlated error processes, or have been in the mould of simple models involving first order dynamics such as the partial adjustment and adaptive expectations models, the implied criticism of econometric modelling is probably valid. However, econometricians need not restrict the range of models and techniques in this way, for they are fortunate in being able to combine structural information from economic theory, (especially for long-run equilibrium or steady-state behaviour), with the techniques of time series analysis and those of econometrics. We believe that the econometrician's search for an acceptable representation of the process generating the data being analysed is made easier by the use of both economic theory and the methods of time series analysis, and that the latter are complementary to econometric methods rather than substitutes for them. Rather than abandoning an econometric approach to modelling altogether and using " black-box " time series methods, we favour an approach which uses reasonable statistical procedures to test various hypotheses (which are too often arbitrarily selected and assumed to be valid), contained within a general unrestricted model, and then incorporates this evidence in a model whose structure is suggested by general economic considerations, to obtain an
Feasibility of a Miniature Centrifugal Rotary Blood Pump for Low-Flow Circulation in Children and Infants

In this study, a seal-less, tiny centrifugal rotary blood pump was designed for low-flow circulatory support in children and infants. The design was targeted to yield a compact and priming volume of 5 ml with a flow rate of 0.5–4 l/min against a head pressure of 40–100 mm Hg. To meet the design requirements, the first prototype had an impeller diameter of 30 mm with six straight vanes. The impeller was supported with a needle-type hydrodynamic bearing and was driven with a six-pole radial magnetic driver. The external pump dimensions included a pump head height of 20 mm, diameter of 49 mm, and priming volume of 5 ml. The weight was 150 g, including the motor driver. In the mock circulatory loop, using fresh porcine blood, the pump yielded a flow of 0.5–4.0 l/min against a head pressure of 40–100 mm Hg at a rotational speed of 1,800–4,000 rpm using 1/4” inflow and outflow conduits. The maximum flow and head pressure of 5.25 l/min and 244 mm Hg, respectively, were obtained at a rotational speed of 4,400 rpm. The maximum electrical-to-hydraulic efficiency occurred at a flow rate of 1.5–3.5 l/min and at a rotational speed of 2,000–4,400 rpm. The normalized index of hemolysis, which was evaluated using fresh porcine blood, was 0.0076 g/100 l with the impeller in the down-mode and a bearing clearance of 0.1 mm. Further refinement in the bearing and magnetic coupler are required to improve the hemolytic performance of the pump. The durability of the needle-type hydrodynamic bearing and antithrombotic performance of the pump will be performed before clinical applications. The tiny centrifugal blood pump meets the flow requirements necessary to support the circulation of pediatric patients.
Computing security strategies in finite horizon repeated Bayesian games

This paper studies security strategies in two-player zero-sum repeated Bayesian games with finite horizon. In such games, each player has a private type which is independently chosen according to a publicly known a priori probability. Players' types are fixed all through the game. The game is played for finite stages. At every stage, players simultaneously choose their actions which are observed by the public. The one-stage payoff of player 1 (or penalty to player 2) depends on both players types and actions, and is not directly observed by any player. While player 1 aims to maximize the total payoff over the game, player 2 wants to minimize it. This paper provides each player two ways to compute the security strategy, i.e. the optimal strategy in the worst case. First, a security strategy that directly depends on both players' history actions is derived by refining the sequence form. Noticing that history action space grows exponentially with respect to the time horizon, this paper further presents a security strategy that depends on player's fixed sized sufficient statistics. The sufficient statistics is shown to consist of the belief on one's own type, the regret on the other player's type, and the stage, and is independent of the other player's strategy.
Reply to a critic: Don't shoot the messenger

He seems unable to weigh calmly evidence that does not conveniently fit his preconceived beliefs about Zimbabwe’s contested politics. Instead he embarks on a slash and burn campaign to discredit a caricatured version of the Afrobarometer survey and to impugn the integrity and motivations of its investigators. This is akin to shooting the messenger who bears bad news. While an ad hominem attack may temporarily soothe the spirits of Mugabe’s opponents, it cannot substitute for empirical social analysis or provide them with a steady guide to political strategy.
Power Control for Self-Organizing Network in LTE-Advanced System

Self-organizing network is used for regional communications, which makes up for the coverage of mobile communication system. In LTE-Advanced network, such network forms by proximity communications and utilizes the limited bandwidth efficiently. However, the system frequencies shared by the terminals in self-organizing network belong to cellular terminals, the resource reusing leads to interference. Meanwhile, due to the mobility of devices and the dynamic topology of self-organizing network, the level of interference becomes more unpredictable. In this paper, we proposed to establish a probabilistic statistical model that randomizer the spectrum allocation problem for self-organizing terminals. Through the model, we simplify the power control algorithm with convex optimization method. Simulation shows that our proposed distributed admission and power control (DAPC) algorithm can improve the Signal to Interference plus Noise Ratio of users mostly 5-10 dB. Even the network changes during the communication process, this algorithm also province that the interference is acceptable.
Impact evaluation of a rural conditional cash transfer programme on outcomes beyond health and education

This paper presents impacts of the pilot conditional cash transfer programme in Paraguay. The choice of outcomes of interest is based on the work developed by the family counselling component undertaken by social workers. Propensity score techniques are used to deal with the problem of non-random treatment assignment. Tekopora has had a positive effect on investment in agriculture, savings, and on the possession of identity card, but did not have much impact on access to credit and on social participation. These results suggest that conditional cash transfer programmes can have impacts that go beyond the usual impacts on consumption, and health and education outcomes.
Stock prices and accounting information: evidence from Malaysia

Purpose - As one of the main purposes of financial statements is to provide relevant information for investors, relationships between share prices and accounting variables have been widely researched. Early studies focus mainly on earnings, but attention has turned in recent years to valuation models that include the book value of the equity. Many of these studies cite the residual income model as their theoretical base and, with the growing emphasis on shareholder value, residual income measures are more commonly used in the business community to track financial performance. Given such trends, the purpose of this paper is to review the theoretical background of the residual income model and discuss results of empirical studies that use it. Design/methodology/approach - The study seeks an understanding of how published accounting information relates to share prices in the developed market in Asia, outside Japan. More specifically, the study aims to extend the international literature in market based accounting research by examining empirical evidence on relationships between share prices and the two summary accounting variables of equity book value and earnings for firms listed on the stock exchange in Malaysia. Findings - The findings imply that, the two accounting variables summarising the balance sheet and the income statement, respectively, are significant factors in the valuation process, and that managers are justified in using the accounting system as a primary source of information for monitoring financial performance. Originality/value - These findings should be of interest to other researchers, and to managers and investors who currently use or are planning to use residual income to monitor business performance.
Development and Evaluation of Congestion Detection System Using Complex Event Processing for Mobile Networks

A congestion detection on mobile networks becomes the main challenge of cellular carriers and mobile network providers because the mobile network quality easily degrades when many users concentrate on a limited place. Especially when a large-scale event is held, a heavy network congestion interferes with the communication of the participants and local residents. Therefore, the congestion detection process has been performed by several network providers, but has been executed on a high-performance computing resource in a centralized manner, which markedly increases the computing cost. On the other hand, with the wide spread of a large-scale distributed computing environment (e.g., cloud computing), a Complex Event Processing (CEP) system has recently been made available for several purposes. The CEP is a distributed computing system which can identify meaningful events by analyzing a large amount of data stream (e.g., sensor data) in real time. Here, the congestion detection can be considered as a suitable application for the CEP system, where a large amount of traffic logs (i.e., data streams) should rapidly be analyzed in order to detect network congestions (i.e., meaningful events). Therefore, in this study, we propose a new system structure of the CEP-based congestion detection system using distributed computing resources. In the proposed system, processing components are deployed on multiple resources, and execute independent tasks that are carefully extracted from a system procedure of the congestion detection. Through experimental evaluation using computing resources on a popular cloud service (Amazon EC2), it is disclosed that the CEP-based system contributes to achieve the real time detection of congestions on the mobile networks.
How do firms innovate with limited resources in turbulent markets?

Abstract Th is study explores the question of how firms innovate with limited resources in turbulent markets utilizing the comparative case studies of 10 start-up companies. The evidence discovered while studying resource-limited innovation at these 10 companies suggests that the effect resource utilization has on innovation performance is moderated by four attitudinal factors that act as catalysts for successful innovation when resources are limited. The four factors are: Intention, Inspiration, Integration, and Indefatigability. These factors are the foundation of ‘lean innovation capability’ such that companies, in the presence of these attitudinal factors, use limited resources in creative ways. The study’s results suggesta need to reconsider the conventional wisdom regarding the need for the abundance of resources in order to successfully innovate. In fact, utilizing the case data, we argue that limited resources managed with these four-attitudinal factors lead to superior innovation performance, which is underutilized and ineffi ciently deployed in more munifi cent environments.
The setting of voluntary agreements between industry and government: Bargaining and efficiency

This paper aims at providing a preliminary economic analysis of the efficiency of an emerging environmental policy instrument: the so-called voluntary agreement. The use of a data base we have built containing 75 existing agreements in 12 OECD countries allows us to stylise these empirical objects. They are mutually agreed contracts signed between a national administration and a coalition of firms. They include a set of physical pollution reduction objectives to be reached by the firms. According to classical economic categories, they are similar to a traditional policy instrument, i.e. direct regulation, but one which has been devised after an intense negotiation process. As regards efficiency, the key question lies in the impact of such negotiations. In our analytical framework, we distinguish two subjects of negotiation: the collective environmental objective, i.e. the physical amount of pollution to be globally suppressed via the completion of the contract, and the means required to reach the collective objective, i.e. the allocation rule of private pollution reduction objectives. According to these categories a major asymmetry arises in the negotiation structure. When the dominant dimension of the negotiations concerns the environmental objective, firms are clearly opposed to the administration because of their eagerness to obtain as low an objective as possible. In that case, voluntary agreements do not seem to be an original policy approach. They can be compared with classical consultation processes of interested parties when designing new regulations and raise similar questions: the efficiency of information collection and the dangers of regulatory capture. But when the subject being bargained concerns the means to reach environmental objectives which have already been fixed, individual firms become rivals. The logic of such negotiations lies in inter-firm bargaining arbitrated by the administration. Voluntary agreements tend to be an original negotiation-based policy instrument. Decentralised bargaining improves the allocative efficiency.
What factors determine the use of venture capital? evidence from the Irish software sector

Abstract We address the venture capital financing issue from the firm's perspective. Using survey data for 110 new technology-based firms (NTBFs) in the Irish software sector, we assess the extent to which five human capital and three other variables determine the firm's use of venture capital. Education of the lead founder to degree level is the only significant human capital variable, and it is directly related to the likelihood of being venture capital-backed. Venture capital-backed firms have significantly higher start-up costs, and their founders are less averse to loss of control than non-venture capital-backed firms. We conclude that the use of venture capital is dictated largely by the willingness of founders to relinquish control.
The quantitative measurement of normal passive medial and lateral patellar motion limits

To quantify normal motion, medial and lateral passive patellar motion limits were measured in 67 high school athletes randomly selected from a group of 1340 ath letes undergoing preseason physical examinations. Pa tellar displacement was measured at knee flexion an gles of 0° and 35°, using both a Patella Pusher (a hand held force gauge) and a manual technique, and the results were compared. Demographic data and physical examination of the deceleration mechanism (Q angle, vastus medialis obliquus dysplasia, patella alta and baja, and valgus and varus alignment) were correlated with patellar motion limits. With the knee in extension, passive displacement of the patella averaged 9.6 mm medially and 5.4 mm laterally. In flexion, medial displacement averaged 9.4 mm and lateral displacement averaged 10.0 mm. No positive correlations were found between demographic data or deceleration mechanism examination parame ters and patellar motion limits, suggesting that motion produced by the displacement force was limited by ligamentous restraints only. The clinical assessment of the passive limits of pa tellar motion should include examination at knee flexion angles of 0° and 35°. The manually produced displace ment was found to be more reproducible than displace ment by the Patella Pusher (P < 0.05).
Synchronization in a Multilevel CMOS Time-to-Digital Converter

Accurate time-to-digital conversion is typically based on determining the positions of the timing signals within the period of an accurate clock with digital delay-line interpolators. In order to save circuit area and to improve single-shot precision to the picosecond level, multilevel interpolators can be used. Timing signals are generally asynchronous with respect to the main clock, and thus, in order to obtain unambiguous and errorless results, careful attention should be given to the synchronization of the timing signals and various operating blocks and to the generation of the interpolation residue between the interpolators. This paper attempts to describe these problems in detail and suggests some solutions using a time-to-digital converter architecture based on two-level interpolation as a test vehicle, which demonstrates 6-ps rms single-shot precision in a measurement range of 1 ms.
THE IMPORTANCE OF SYSTEMIC RISK MANAGEMENT IN THE BANKING SECTOR

Billio et al. (2010) note that the financial crisis of 2007–2009 has created renewed interest in systemic risk. The objective of this paper is to argue the importance of systemic risk management in the banking sector and to analyze the arguments of systemic risk management in the banking. The research results of this study show that the main arguments of systemic risk management in the banking can be distinguished into four main groups. The most important economic arguments of systemic risk management in the banking are following: the major role of banks in the financial system and economy, the high frequency of banking crises and their economic consequences, and the occurrence of banking crisis increase the probability of other financial crises. The social arguments of systemic risk management in the banking are also important because banking crises can have long-term consequences for human development and long-term deleterious effects on the psychological wellbeing of population. The scientific and other important arguments of systemic risk management in the banking are also discussed in this article. DOI: http://dx.doi. org/10.5755/j01.em. 17.3. 2097
Anisotropic resizing of model with geometric textures

Model resizing is a useful technique for model reuse. Introduced by Kraevoy et al., non-homogeneous model resizing is able to preserve important geometric features during anisotropic scaling. However, many practical objects contain various geometric textures. Different from similar objects without geometric textures, such objects seem as if extremely difficult to resize even if the underlying surfaces are relatively simple. In this paper, we present an automatic model resizing method based on geometric texture transfer. Geometric textures are separated from the underlying surfaces and reproduced on the non-homogenously scaled surfaces using geometric texture synthesis. By utilizing the natural correspondence between the surfaces before and after resizing, surfaces with multiple geometric textures can be resized and geometric texture recovered automatically. Experimental results show that our method effectively and automatically preserves geometric textures during the model resizing process.
A low power 10 GHz current reused VCO using negative resistance enhancement technique

This paper presents a low power 10 GHz voltage-controlled oscillator (VCO) with current reused topology and uses negative resistance enhancement technique. The proposed VCO operates from 9.08 GHz to 10.67 GHz with a tuning range of 16.1%. The VCO has a phase noise of −106.19 dBc/Hz at 1MHz offset from 10.19 GHz oscillation frequency with 3 mW core power dissipation and 16.27 mW total power dissipation draw from a 1.5 V power supply. This VCO was made by TSMC 0. 18µm 1P6M CMOS standard process and the chip area is 0.505 × 0.573 (mm2).
The Role of the Spleen in Radiation Injury.*

Summary and Conclusions These hematologic and histologic data indicate that: 1) Severe anemia, leucopenia, and thrombocytopenia develop in mice after a single dose of 600 r whole-body X radiation. 2) Ectopic erythrocytopoiesis, in the lead-protected spleens of mice given 600 r whole-body X radiation (exclusive of spleens) compensates with such rapidity and so extensively for the destruction and interruption of this activity in the marrow spaces that no anemia of significance becomes apparent. Ectopic granulocytopoiesis and megakaryocytopoiesis in the lead-protected spleens compensates significantly but at a slower pace and less completely for the bone marrow destruction. 3) A marked and sustained decrease in the amount of lymphatic tissue is produced in the lead-protected spleens of animals given 600 r whole-body X radiation. This decrease in lymphatic tissue may perhaps be a result of (a) unsuccessful competition of the lymphatic tissue with the ectopic hematopoiesis for nutritional requirements, (b) actual indirect effect of radiation and (c) a differential humoral suppression from some unknown site. The rapidity with which erythrocytopoiesis transfers from the X-ray damaged bone marrow to the lead-protected spleen in the absence of anemia suggests that the mechanism of stimulation of erythrocytopoiesis under the conditions of this experiment may involve some factor or factors other than, or in addition to, the accepted hemoglobin-oxygen relationship. This technic permits more or less exclusive protection of the spleen or the appendix or other visceral tissues from irradiation while applying various dosages to the remainder of the body. It provides a method of studying potential sites and mechanism of the production of ectopic blood formation, possible secondary effects of radiation as well as offering possibilities for determining the potential role of such sites in immune reactions, in preventing or alleviating radiation-induced hemorrhagic phenomena and in the study of survival or recovery from radiation injury.