title: Does investor sentiment predict the near-term returns of the Chinese stock market?

authors: Cheema, Muhammad A.

abstract: Recent evidence on the relationship between investor sentiment and subsequent monthly market returns in China shows that investor sentiment is a reliable momentum predictor since an increase (decrease) in investor sentiment leads to higher (lower) future returns. However, we suggest that momentum predictability of investor sentiment originates from the boom and bust period of 2006-2008 (the bubble period hereafter). The bubble period is characterized by several months of sustained optimism followed by several months of sustained pessimism, with the market consequently earning high (low) returns following high (low) sentiment months. Therefore, we find a strong positive association between investor sentiment and subsequent market returns during the bubble period. However, investor sentiment has a negligible impact on subsequent monthly market returns once we exclude the bubble period.

text: Does investor sentiment predict the near-term returns of the Chinese stock market? Recent evidence on the relationship between investor sentiment and subsequent monthly market returns in China shows that investor sentiment is a reliable momentum predictor since an increase (decrease) in investor sentiment leads to higher (lower) future returns. However, we suggest that momentum predictability of investor sentiment originates from the boom and bust period of 2006-2008 (the bubble period hereafter). The bubble period is characterized by several months of sustained optimism followed by several months of sustained pessimism, with the market consequently earning high (low) returns following high (low) sentiment months. Therefore, we find a strong positive association between investor sentiment and subsequent market returns during the bubble period. However, investor sentiment has a negligible impact on subsequent monthly market returns once we exclude the bubble period.

year: 2018

title: Analytical solutions of fractional diffusion-advection equation for solar cosmic-ray transport

authors: Litvinenko, Yuri E.

abstract: Motivated by recent applications of superdiffusive transport models to shock-accelerated particle distributions in the heliosphere, we analytically solve a one-dimensional fractional diffusion-advection equation for the particle density. We derive an exact Fourier transform solution, simplify it in a weak diffusion approximation, and compare the new solution with previously available analytical results and with a semi-numerical solution based on a Fourier series expansion. We apply the results to the problem of describing the transport of energetic particles, accelerated at a traveling heliospheric shock. Our analysis shows that significant errors may result from assuming an infinite initial distance between the shock and the observer. We argue that the shock travel time should be a parameter of a realistic superdiffusive transport model.

text: Analytical solutions of fractional diffusion-advection equation for solar cosmic-ray transport Motivated by recent applications of superdiffusive transport models to shock-accelerated particle distributions in the heliosphere, we analytically solve a one-dimensional fractional diffusion-advection equation for the particle density. We derive an exact Fourier transform solution, simplify it in a weak diffusion approximation, and compare the new solution with previously available analytical results and with a semi-numerical solution based on a Fourier series expansion. We apply the results to the problem of describing the transport of energetic particles, accelerated at a traveling heliospheric shock. Our analysis shows that significant errors may result from assuming an infinite initial distance between the shock and the observer. We argue that the shock travel time should be a parameter of a realistic superdiffusive transport model.

year: 2014

title: The Effects of Contaminated Rena Sediments on Juvenile Paua (Haliotis iris)

authors: McSweeney, Caleb S.

subjects: contamiant

abstract: The grounding of the MV Rena on Otaiti resulted in the release of heavy fuel oil and container debris contaminants into the surrounding environments including the rocky shores of the adjacent Mōtītī Island. This is the habitat where significant populations of benthic paua reside. Paua (Haliotis iris) are a staple and consistent food source for Mōtītī Island. Being an offshore island with no amenities, Mōtītī Island residents are reliant on the ocean as a pataka kai (food cupboard) and are therefore acutely aware of environmental influences to the harvest of kaimoana.
This thesis aimed to address concerns relating to the effects of contaminated boundary layer water emanating from contaminated ‘Rena’ sediment on juvenile paua. Research was focused in two areas: 1) the sublethal behavioural effects of contaminated Rena sediment to Paua and 2) the accumulation of trace metals in the edible tissue and viscera mass. The experiments were carried out with the use of a close circuit aquaria in a laboratory environment, followed by a field experiment.
In all experiments, paua in control treatments were healthy by comparison to paua exposed to treatments with Rena contaminated sediments and copper as judged by survivorship and behaviour. The most likely cause of of behavioural aberrations and mortality observed was deemed to be copper as demonstrated by Diffusive Gradient in thin film (DGT) and ambient water analyses in both experiments. Copper that is bioavailable can increase quickly in the edible tissue and viscera mass as was identified as the visceral mass of Rena and copper exposed paua had a higher mean concentration of this and other trace metals.
On Otaiti, the effects to paua from the Rena ship wreck and lost container contents, know to include a medly of metals and other contaminants, is not likely to be limited to copper alone. Results demosntrate the relevance of examining the effects of water borne contaminated plumes emanating from complex mixtures of contaminants. This is rarely done in ecotoxicological studies which tend to focus on individual contaminant compounds.

text: The Effects of Contaminated Rena Sediments on Juvenile Paua (Haliotis iris) The grounding of the MV Rena on Otaiti resulted in the release of heavy fuel oil and container debris contaminants into the surrounding environments including the rocky shores of the adjacent Mōtītī Island. This is the habitat where significant populations of benthic paua reside. Paua (Haliotis iris) are a staple and consistent food source for Mōtītī Island. Being an offshore island with no amenities, Mōtītī Island residents are reliant on the ocean as a pataka kai (food cupboard) and are therefore acutely aware of environmental influences to the harvest of kaimoana.
This thesis aimed to address concerns relating to the effects of contaminated boundary layer water emanating from contaminated ‘Rena’ sediment on juvenile paua. Research was focused in two areas: 1) the sublethal behavioural effects of contaminated Rena sediment to Paua and 2) the accumulation of trace metals in the edible tissue and viscera mass. The experiments were carried out with the use of a close circuit aquaria in a laboratory environment, followed by a field experiment.
In all experiments, paua in control treatments were healthy by comparison to paua exposed to treatments with Rena contaminated sediments and copper as judged by survivorship and behaviour. The most likely cause of of behavioural aberrations and mortality observed was deemed to be copper as demonstrated by Diffusive Gradient in thin film (DGT) and ambient water analyses in both experiments. Copper that is bioavailable can increase quickly in the edible tissue and viscera mass as was identified as the visceral mass of Rena and copper exposed paua had a higher mean concentration of this and other trace metals.
On Otaiti, the effects to paua from the Rena ship wreck and lost container contents, know to include a medly of metals and other contaminants, is not likely to be limited to copper alone. Results demosntrate the relevance of examining the effects of water borne contaminated plumes emanating from complex mixtures of contaminants. This is rarely done in ecotoxicological studies which tend to focus on individual contaminant compounds.

year: 2015