Miracle-dz/UniFAR-FTUs huggingface dataset:
An empirical study of implied volatility in Australian index option markets

With the rapid development of option markets throughout the world, option pricing has become an important field in financial engineering. Among a variety of option pricing models, volatility of underlying asset is associated with risk and uncertainty, and hence is treated as one of the key factors affecting the price of an option. In particular, in the framework of the Black-Scholes option pricing model, volatility of the underlying stock is the only unobservable variable, and has attracted a large amount of attention of both academics and practitioners. This thesis is concerned with the implied volatility in the Australian index option market. Two interesting problems are examined. First, the relation between implied volatility and subsequently realized volatility is investigated by using the S&P/ASX 200 (XJO) index options over a five-year period from April 2001 to March 2006. Unlike the S&P 100 index options in the US market, the XJO index options are traded infrequently, in low volumes, and with a long maturity cycle. This implies that the errors-in-variable problem for the measurement of implied volatility is more likely to exist. After accounting for this problem by the instrumental variable method, it is found that both call and put options implied volatilities are nearly unbiased and superior to historical volatility in forecasting future realized volatility. Second, the volatility structure implied by the XJO index options is examined during the period from April 2001 to June 2005. The volatility structure with respect to moneyness and time to maturity are investigated for both call and put option price series. It is found that the volatility smile largely exists, with call (put) option implied volatilities decreasing monotonically as the call (put) goes deeper out of the money (in the money). This result is consistent with the welldocumented evidence of volatility smile on other index options since the stock market crash of 1987. In summary, this thesis presents some important findings on the volatility inferred from the XJO index options traded on the ASX.
Transepithelial water permeability in an in vitro model of renal cysts.

Renal cysts develop from microscopic tubules and may enlarge progressively several thousandfold. Sustained epithelial proliferation, intracavitary fluid accumulation, and extracellular matrix remodeling are central elements in a multistep process that leads to the formation and enlargement of cysts. MDCK cells suspended within medium-hydrated collagen gels grow to form spherical, monolayered, fluid-filled cysts that enlarge steadily. Vasopressin and other agents that increase intracellular levels of cAMP stimulate the rate of MDCK cyst growth and net fluid/solute secretion when added to defined medium in vitro. In this model, net fluid secretion is the only means by which fluid can accumulate within the cyst cavity. We used this cyst-forming line of epithelial cells to evaluate several membrane transport properties that are important in the coupled movements of solute and water in the process of secretory fluid transport. Individual cysts were microdissected from collagen gels, held by a micropipet in a thermostated chamber, and examined at a high magnification by video microscopy. Transepithelial water flow was initiated by rapidly exchanging the bath medium with hyperosmotic solutions. Net water flux, Jv, determined from the initial rate of decrease in cyst diameter, was proportionate to the transmembrane osmotic gradient of NaCl or raffinose; the reflection coefficient for NaCl was indistinguishable from 1.0. Osmotic water permeability (cm3/cm2/osm/min x 10(-6)) was 739 +/- 99 (N = 11) in medium augmented by an NaCl concentration of 100 mosmol/kg. Hydraulic conductivity (Pt), estimated in control cysts, was 6.8 +/- 0.9 microns/s, a value similar to that of medullary and cortical thick ascending limbs of Henle. (ABSTRACT TRUNCATED AT 250 WORDS)
Improving the Website Design Process for SMEs: A Design Science Perspective

The success of small and medium enterprises (SMEs) in e-business is significantly affected by the quality of their websites. Currently, website designers focus mainly on improving the usability of websites. They pay less attention to the psychological, cognitive and other needs of the employees and customers who use these websites. The lack of attention to these needs leads to websites that are not well or appropriately utilised, negatively impacting the ebusiness ambitions of SMEs. This study adopts a design science approach (Hevner et al. 2004; March and Smith, 1995) to develop a new methodology for designing websites that takes these concerns into account. The new methodology is based on Brown’s principles (Brown, 1999), as they incorporate the various concerns of users. The new methodology was used to design a New Zealand SME's website and multiple methods were used to evaluate it. The data was complemented by the results of the requirements analysis exercise and the designer's wire frame models.
The BitTorrent Peer Collector Problem

Peer-to-Peer (P2P) systems measurements are still a relevant research topic, since insights in large swarm sizes and churn are not yet available for the BitTorrent network. To improve existing measurement methodology, this work here tackles the aspect of swarm size estimation and complete collection in the BitTorrent network. For this purpose the Coupon Collector Problem is modified and formulated as the BitTorrent Peer Collector (BTPC) Problem. Thus, (a) simulations are used to test simple and maximum likelihood estimation for hidden swarm sizes, (b) an analytical solution to the BTPC problem is presented, and (c) measurements are used to evaluate estimators of the BTPC model. Obtained results show that this estimation works well for classical trackers and that churn constantly influences measurements. Those results show that more peers use the Main-line DHT than a single tracker, however, client implementations challenge those models working well for trackers.
Generalized covariance‐adjusted canonical correlation analysis with application to psychiatry

The lack of control over covariates in practice motivates the need for their adjustment when measuring the degree of association between two sets of variables, for which canonical correlation is traditionally used. In most studies however, there is also a lack of control over the attributes of responses for the sets of variables of interest. In particular, a portion of the response variable may be continuous and the other discrete. For such settings, the traditional partial canonical correlation approach is restrictive, since a covariate‐adjustment for a set of continuous variables is assumed. By ignoring the assumption of continuous variates and proceeding with a partial canonical correlation analysis in the presence of continuous and discrete variates, results in canonical correlation estimates that are not consistent. In this paper we generalize the traditional partial canonical correlation approach to covariate‐adjustment by allowing the response variables to contain continuous, as well as discrete, variates. The methodology is illustrated with a psychiatric application for examining which sleep variables relate to which depressive symptoms, as measured by commonly used constructs that presents with both continuous and discrete outcomes. Copyright © 2003 John Wiley & Sons, Ltd.
Values and M-Services Adoption

The use of mobile services has increased rapidly in recent. Although research has been conducted on which services people use and the benefits they attach to those services, the values associated with the adoption and use of m-services at the individual level is still unclear. This formation systems field various technology adoption models have been proposed and validated in relation to technology adoption within an organisational setting but personal adoption and use of technology is less researched. To help uncover the values behind adoption of m-services we use means-end chains and laddering techniques. The analysis of the interviews shows that mobile services often fulfil such basic needs as self-esteem, achievement, individuality, belonging and well-being. Exploring the realization of values as a theoretical framework offers researchers a way forward in environments characterised by individual technology decisions.
Antithrombotic therapy – predictor of early and long-term bleeding complications after transcatheter aortic valve implantation

Introduction Dual antiplatelet therapy (DAPT) – aspirin and clopidogrel – is recommended after transcatheter aortic valve implantation (TAVI) without an evidence base. The main aim of the study was to estimate the impact of antithrombotic therapy on early and late bleeding. Moreover, we assessed the impact of patients’ characteristics on early bleeding and the influence of bleeding on prognosis. Material and methods Between 2009 and 2011, 83 consecutive TAVI patients, age 81.1 ±7.2 years, were included. Bleeding complications were defined by the Valve Academic Research Consortium (VARC) scale. The median follow-up was 12 ±15.5 months (range: 1 to 23) and included 68 (81.9%) patients. Results Early bleeding occurred in 51 (61.4%) patients. Vitamin K antagonists (VKA) pre-TAVI (p = 0.001) and VKA + clopidogrel early post-TAVI (p = 0.04) were the safest therapies; in comparison to the safest one, peri-procedural DAPT (p = 0.002; p = 0.05) or triple anticoagulant therapy (TAT) (p = 0.003, p = 0.05) increased the risk for early bleeding. Predictors for early bleeding were: clopidogrel pre-TAVI (OR: 4.43, 95% CI: 1.02–19.24, p = 0.04), preceding percutaneous coronary intervention (PCI) (10.08, OR: 95% CI: 1.12–90.56, p = 0.04), anemia (OR: 4.00, 95% CI: 1.32–12.15, p = 0.01), age > 85 years (OR: 5.96, 95% CI: 1.47–24.13, p = 0.01), body mass index (BMI) (OR: 0.86, 95% CI: 0.74–0.99, p = 0.04). Late bleeding occurred in 35 patients (51.4%) on combined therapy, and none on VKA or clopidogrel monotherapy (p = 0.04). Bleeding complications did not worsen the survival. Conclusions This study seems to suggest that advanced age, BMI, and a history of anemia increased the risk for early bleeding after TAVI. Clopidogrel pre-TAVI should be avoided; therefore, time of preceding PCI should take into account discontinuation of clopidogrel in the pre-TAVI period. Vitamin K antagonists with clopidogrel seems to be the safest therapy in the early post-TAVI period, similarly as VKA/clopidogrel monotherapy in long-term prophylaxis.
European and Japanese Logistics Paradigms: An Explorative and comparative study of the dynamics of logistics management

textabstractThis dissertation explores a new field of study in the paradigms of logistics management and their evolution. General observations detected the existence of large differences of logistics practices between Europe and Japan, and that Japanese are apparently trying to tread the European path. Comparative studies were done on European and Japanese logistics management to find out what causes the differences and whether there can be a universal logistics paradigm to better manage expanding supply chains across borders. Empirical studies were done on the perceptions of practioners in logistics. The study showed a typical â€˜bounded rationality of logistical decision makings, and revealed the fact that European logistics is mainly regulated by the paradigm of logicality and fairness, while Japanese logistics is by that of customer satisfaction and long-term relationship. The important finding was that the people on both sides had inner yearning for the opposite paradigm as a good catalyst for better logistics management. Therefore, there will be simultaneous occurrence of Europeanisation of Japanese logistics management paradigm and the Japanisation of that of the European for the time being. However, we conclude that it is not known yet if a unified single paradigm of logistics management can be developed or not, as long-term transition of the paradigms is subject to the laws of evolution, which are still indecisive between a natural selection and a habitat segregation.
POWER-LAW TEMPLATE FOR INFRARED POINT-SOURCE CLUSTERING

We perform a combined fit to angular power spectra of unresolved infrared (IR) point sources from the Planck satellite (at 217, 353, 545, and 857 GHz, over angular scales 100 ≲ ℓ ≲ 2200), the Balloon-borne Large-Aperture Submillimeter Telescope (BLAST; 250, 350, and 500 μm; 1000 ≲ ℓ ≲ 9000), and from correlating BLAST and Atacama Cosmology Telescope (ACT; 148 and 218 GHz) maps. We find that the clustered power over the range of angular scales and frequencies considered is well fitted by a simple power law of the form Cclustℓ∝ℓ−n with n = 1.25 ± 0.06. While the IR sources are understood to lie at a range of redshifts, with a variety of dust properties, we find that the frequency dependence of the clustering power can be described by the square of a modified blackbody, νβB(ν, Teff), with a single emissivity index β = 2.20 ± 0.07 and effective temperature Teff = 9.7 K. Our predictions for the clustering amplitude are consistent with existing ACT and South Pole Telescope results at around 150 and 220 GHz, as is our prediction for the effective dust spectral index, which we find to be α150–220 = 3.68 ± 0.07 between 150 and 220 GHz. Our constraints on the clustering shape and frequency dependence can be used to model the IR clustering as a contaminant in cosmic microwave background anisotropy measurements. The combined Planck and BLAST data also rule out a linear bias clustering model.
Simian virus 40 large T antigen targets the microtubule-stabilizing protein TACC2

The large T antigens of polyomaviruses target cellular proteins that control fundamental processes, including p53 and the RB family of tumor suppressors. Mechanisms that underlie T-antigen-induced cell transformation need to be fully addressed, because as-yet unidentified target proteins might be involved in the process. In addition, recently identified polyomaviruses are associated with particular human diseases such as aggressive skin cancers. Here, we report that simian virus 40 (SV40) large T antigen interacts with the transforming acidic coiled-coil-containing protein TACC2, which is involved in stabilizing microtubules in mitosis. T antigen directly binds TACC2 and induces microtubule dysfunction, leading to disorganized mitotic spindles, slow progression of mitosis and chromosome missegregation. These mitotic defects are caused by N-terminal-deleted T antigen, which minimally interacts with TACC2, whereas T-antigen-induced microtubule destabilization is suppressed by overexpressing TACC2. Thus, TACC2 might be a key target of T antigen to disrupt microtubule regulation and chromosomal inheritance in the initiation of cell transformation.
Reducing Fuel Consumption of Hybrid Vehicles by Replacing Diesel Engines with Gas Turbine Engines

This paper is devoted to assessing the prospects of reducing fuel consumption in hybrid vehicles by replacing diesel engines with gas turbine engines, taking into account the progress made in recent years in improving the efficiency of gas turbines possibly. Reduction in fuel consumption was estimated separately for each of the classes of vehicles in accordance with their total mass: light, medium and heavy, and in each class subclasses based on differences in engine power were considered separately. Estimates were obtained by calculations utilizing a model which incorporates specified design parameters of vehicles. The results of the calculations presented in this paper show that for light vehicles of any engine power and mid-sized vehicles whose engine power does not exceed 50 kW, transition to gas turbine engines would lead to a substantial reduction in fuel consumption (more than 20%), and for heavy vehicles whose engine power does not exceed 50 kW transition to gas turbine engines would lead to a less substantial, but still significant (more than 10%) reduction in fuel consumption.
The Depression-Happiness Scale

It is argued that there is a need for a measure which can quantify a continuum of affect and which is able to assess current frequency of mood for use in survey research with the general population. In a preliminary attempt to develop such a scale, a 40-item questionnaire containing items thought to tap feelings of depression and happiness was completed by 200 young people whose mean score on the Beck Depression Inventory was within that expected of a normal population. On the basis of factor analytic data, the 25 highest loading items were selected for inclusion into a bipolar Depression-Happiness Scale which was shown to have good internal reliability and concurrent validity with the Beck Depression Inventory.
Reconstruing Intolerance

Myrdal (1944) described the “American dilemma” as the conflict between abstract national values (“liberty and justice for all”) and more concrete, everyday prejudices. We leveraged construal-level theory to empirically test Myrdal’s proposition that construal level (abstract vs. concrete) can influence prejudice. We measured individual differences in construal level (Study 1) and manipulated construal level (Studies 2 and 3); across these three studies, we found that adopting an abstract mind-set heightened conservatives’ tolerance for groups that are perceived as deviating from Judeo-Christian values (gay men, lesbians, Muslims, and atheists). Among participants who adopted a concrete mind-set, conservatives were less tolerant of these nonnormative groups than liberals were, but political orientation did not have a reliable effect on tolerance among participants who adopted an abstract mind-set. Attitudes toward racial out-groups and dominant groups (e.g., Whites, Christians) were unaffected by construal level. In Study 3, we found that the effect of abstract thinking on prejudice was mediated by an increase in concerns about fairness.
Analysis of EM Scattering from multiscale conducting structures in a half space

Efficient analysis of electromagnetic scattering from three-dimensional, perfect electrically conducting, multiscale structures in a half space is conducted in this paper. The half-space dyadic Green's function is adopted as the kernel of the electric field integral equation so that the unknowns are only associated with the surface of the scatterers. A recently developed Calderon preconditioner is adopted to significantly improve the ill-conditioning of the matrix due to the multiscale nature of the structures. The kernel-independent multilevel adaptive cross approximation is further implemented to accelerate the computation and reduce the memory requirement. Numerical examples are presented to demonstrate the effectiveness of this method for analyzing multiscale structures situated in a half space.
Molecular investigation of genetic assimilation during the rapid adaptive radiations of East African cichlid fishes

Adaptive radiations are characterized by adaptive diversification intertwined with rapid speciation within a lineage resulting in many ecologically specialized, phenotypically diverse species. It has been proposed that adaptive radiations can originate from ancestral lineages with pronounced phenotypic plasticity in adaptive traits, facilitating ecologically driven phenotypic diversification that is ultimately fixed through genetic assimilation of gene regulatory regions. This study aimed to investigate how phenotypic plasticity is reflected in gene expression patterns in the trophic apparatus of several lineages of East African cichlid fishes, and whether the observed patterns support genetic assimilation. This investigation used a split brood experimental design to compare adaptive plasticity in species from within and outside of adaptive radiations. The plastic response was induced in the crushing pharyngeal jaws through feeding individuals either a hard or soft diet. We find that nonradiating, basal lineages show higher levels of adaptive morphological plasticity than the derived, radiated lineages, suggesting that these differences have become partially genetically fixed during the formation of the adaptive radiations. Two candidate genes that may have undergone genetic assimilation, gif and alas1, were identified, in addition to alterations in the wiring of LPJ patterning networks. Taken together, our results suggest that genetic assimilation may have dampened the inducibility of plasticity related genes during the adaptive radiations of East African cichlids, flattening the reaction norms and canalizing their feeding phenotypes, driving adaptation to progressively more narrow ecological niches.
INSIDER TRADING AND LARGE CHAPTER 11 BANKRUPTCIES IN USA

The Enron and WorldCom debacles raised questions about the state of corporate governance in the United States.Insider trading is one aspect of corporate governance highlighted in these cases. In this paper, we explore insider trading of large Chapter 11 bankruptcy filing firms during the twelve-year period of 1995-2006. We find that insiders in these firms, on average, do not use private information for gain or loss avoidance.
Influence of an Expanded Framework of Shopping Motivations and Inclusion of Non-Store Retailers on the Choice Set Formation Process.

Much of the research in marketing involves the study of consumer choice behavior. This study is concerned with the development and testing of a theory of retail choice or patronage. The last several years have witnessed dramatic changes in the retailing industry. In addition to the traditional department, discount, and specialty stores, consumers may increasingly choose from a wide variety of non-store retailers. Thus, any comprehensive study of retail outlet choice behavior should incorporate all of the alternatives available to the consumer. This research developed a model of patronage which extended previous research with the addition of alternative retail outlets and the explication of important determinant variables. The inclusion of all available retail outlets presents a more comprehensive view of consumers1 retail choice decisions and aids researchers in understanding the varied choice behavior of individuals. Consumer shopping motivations, involvement, experience, knowledge, and contextual influences were proposed as primary determinants of retail outlet choice. A large focus of the dissertation research involved the construction and validation of a consumer shopping motivation scale. Three stages of data collection were conducted to develop a comprehensive, reliable and valid measure. Motivations were proposed to represent underlying forces that stimulate and compel individuals to interact with the retailing community. The research proposed
Extreme Miniaturization of Silicon Add–Drop Microring Filters for VLSI Photonics Applications

We theoretically and experimentally investigated the performance of silicon-on-insulator (SOI) microring add-drop filters in the limit of extreme miniaturization for potential application in very dense integration of silicon photonic devices. Rigorous numerical analyses were performed to predict the theoretical limit of achievable intrinsic quality factors as the microring radius is scaled down to 1 μm. Experimental measurements of fabricated SOI microring resonators showed that ultracompact add-drop microring filters with radii as small as 1 μm can be achieved with a free spectral range exceeding 80 nm and an insertion loss of only 1 dB. These devices are also shown to exhibit intrinsic quality factors approaching the theoretically achievable limit set by the bending loss in ultracompact microring resonators.