Search results for "502"

Superiority of Optimized Portfolios to Naive Diversification: Fact or Fiction?

2017

Abstract DeMiguel, Garlappi, and Uppal (2009) conducted a highly influential study where they demonstrated that none of the optimized portfolios consistently outperformed the naive diversification. This result triggered a heated debate within the academic community on whether portfolio optimization adds value. Nowadays several studies claim to defend the value of portfolio optimization. The commonality in all these studies is that various portfolio optimization methods are implemented using the datasets generously provided by Kenneth French and the performance is measured by means of the Sharpe ratio. This paper aims to provide a cautionary note regarding the use of Kenneth French datasets …

Optimal Dynamic Portfolio Risk Management

2016

Numerous econometric studies report that financial asset volatilities and correlations are time-varying and predictable. Over the past decade, this knowledge has stimulated increasing interest in various dynamic portfolio risk control techniques. The two basic types of risk control techniques are: risk control across assets and risk control over time. At present, the two types of risk control techniques are not implemented simultaneously. There has been surprisingly little theoretical study of optimal dynamic portfolio risk management. In this paper, the author fills this gap in the literature by formulating and solving the multi-period portfolio choice problem. In terms of dynamic portfoli…

Analysis of salivary detection of P16INK4A and RASSF1A promoter gene methylation and its association with oral squamous cell carcinoma in a Colombian…

2019

Background Epigenetic factors play a fundamental role in the etiopathogenesis of oral squamous cell carcinoma (OSCC). This study evaluated if salivary detection of P16INK4A/RASSF1A gene promoter methylation might be linked to the clinical/histological features of OSCC in a Colombian population. Material and Methods Methylation-specific polymerase chain reaction (MSP-PCR) was used to detect the methylation frequency of P16INK4A/RASSF1A genes in DNA obtained from whole saliva collected of 40 healthy controls (HC) and 43 OSCC patients. Determination of the clinical performance of MSP-PCR assay was based on standard algorithms derived from two-way contingency table analysis. The association of …

Volcanic gases

2018

Joint interpretation of seismic refraction tomography and electrical resistivity tomography by cluster analysis to detect buried cavities

2020

Abstract In the last few years, the geophysical methods of seismic refraction tomography (SRT) and electrical resistivity tomography (ERT) are among the most used geophysical techniques for the reconstruction of subsoil geometries, for the investigation of underground cavities and also for the archaeological prospecting. However, the main disadvantage of each geophysical method is the difficulty of final interpretation of the data. In order to eliminate artifacts and generally improve the reliability and accuracy of geophysical interpretation, it is useful to perform a joint approach of different geophysical methods, also introducing the a priori information. In this work, it is shown the i…

Annually resolved δ13Cshell chronologies of long-lived bivalve mollusks (Arctica islandica) reveal oceanic carbon dynamics in the temperate North Atl…

2011

Abstract The ability of the ocean to absorb carbon dioxide is likely to be adversely affected by recent climate change. However, relatively little is known about the spatiotemporal variability in the oceanic carbon cycle due to the lack of long-term, high-resolution dissolved inorganic carbon isotope ( δ 13 C DIC ) data, especially for the temperate North Atlantic, which is the major oceanic sink for anthropogenic CO 2 . Here, we report shell carbon isotope values ( δ 13 C shell ), a potential proxy for δ 13 C DIC , of old-grown specimens of the long-lived bivalve mollusk, Arctica islandica . This paper presents the first absolutely dated, annually resolved δ 13 C shell record from surface …

Modeling Rain Isotopic Composition under Orographic Control: A Landscape Approach for Hydrogeological Applications

2021

Oxygen isotopic composition is useful for individuating recharge areas of groundwater bodies by the comparison with those of local rainfalls. While on a global scale general relationships, such as the isotopic vertical gradient or continentality effects, efficiently describe spatial variations of the isotopic signature, hydrogeological applications need spatial models that are more focused on the effects of local topographic structures and/or subsoil geology. This work presents a case study in northeastern Sicily (Italy) characterized by complex geological and orographic structures, in which isotopic composition of rainfalls is governed by orographic effects and the varying initial composit…

New advances in dial-lidar-based remote sensing of the volcanic CO2 flux

2017

We report here on the results of a proof-of-concept study aimed at remotely sensing the volcanic CO2 flux using a Differential Adsorption lidar (DIAL-lidar). The observations we report on were conducted on June 2014 on Stromboli volcano, where our lidar (LIght Detection And Ranging) was used to scan the volcanic plume from ~ 3 km distance from the summit vents. The obtained results prove that a remotely operating lidar can resolve a volcanic CO2 signal of a few tens of ppm (in excess to background air) over km-long optical paths. We combine these results with independent estimates of plume transport speed (from processing of UV Camera images) to derive volcanic CO2 flux time-series of ≈16-3…

Understanding the SO 2 degassing budget of Mt Etna’s paroxysms: First clues from the december 2015 sequence

2019

The persistent open-vent activity of basaltic volcanoes is periodically interrupted by spectacular but hazardous paroxysmal explosions. The rapid transition from quiescence to explosive eruption poses a significant challenge for volcanic hazard assessment and mitigation, and improving our understanding of the processes that trigger these paroxysmal events is critical. Although magmatic gas is unquestionably the driver, direct measurements of a paroxysm’s gas flux budget have remained challenging, to date. A particularly violent paroxysmal sequence took place on Etna on December 2015, intermittently involving all summit craters, especially the Voragine (VOR) that had previously displayed no…

The 1430s: a cold period of extraordinary internal climate variability during the early Spörer Minimum with social and economic impacts in north-west…

2016

Changes in climate affected human societies throughout the last millennium. While European cold periods in the 17th and 18th century have been assessed in detail, earlier cold periods received much less attention due to sparse information available. New evidence from proxy archives, historical documentary sources and climate model simulations permit us to provide an interdisciplinary, systematic assessment of an exceptionally cold period in the 15th century. Our assessment includes the role of internal, unforced climate variability and external forcing in shaping extreme climatic conditions and the impacts on and responses of the medieval society in north-western and central Europe. Climate…