Search results for "efficient"
showing 10 items of 1603 documents
Finding socially responsible portfolios close to conventional ones
2015
Abstract An increasing number of investors are interested in sustainable, responsible and impact investment (SRI). However, there is a concern about the possible financial sacrifice associated to this kind of investments. The design of Decision Support Systems assisting socially responsible investors in their investment decisions can contribute to stimulate SRI. In this paper the financial content of a portfolio selection model is discussed in order to justify that it can be integrated into a Decision Support System designed for investors interested in socially responsible investment but initially reluctant to pay a financial cost in exchange for increasing the social responsibility of thei…
The exchange rates – indicators for assessing the financial performance of the companies from Romania
2016
Abstract The research aims to determine the financial performance of the companies listed and traded on the Bucharest Stock Exchange from the manufacturing sector in Romania, compared with the performance recorded by the Bucharest Stock Exchange, based on the exchange rates. It was concluded that the financial performance of the companies included in the research, quantified on the basis of the exchange rates, decreased significantly with the arrival of the financial and economic crisis, currently, the companies being unable to reach the level of performance recorded before the crisis.
The Economic Value of Volatility Transmission Between the Stock and Bond Markets
2008
This study has two main objectives. Firstly, volatility transmission between stocks and bonds in European markets is studied using the two most important financial assets in these fields: the DJ Euro Stoxx 50 index futures contract and the Euro Bund futures contract. Secondly, a trading rule for the major European futures contracts is designed. This rule can be applied to different markets and assets to analyze the economic significance of volatility spillovers observed between them. The results indicate that volatility spillovers take place in both directions and that the stock-bond trading rule offers very profitable returns after transaction costs. These results have important implicatio…
Human Capital Inequality, Life Expectancy and Economic Growth
2006
This article presents a model in which inequality affects per capita income when individuals decide to invest in education taking into account their life expectancy, which depends to a large extent on the human capital of their parents. Our results show the existence of multiple steady states depending on the initial distribution of education. The low steady state is a poverty trap in which children raised in poor families have low life expectancy and work as non-educated workers. The empirical evidence suggests that the life expectancy mechanism explains a major part of the relationship between inequality and human capital accumulation. Increases in life expectancy and human capital accumu…
A naïve approach to speed up portfolio optimization problem using a multiobjective genetic algorithm
2012
a b s t r a c t Genetic algorithms (GAs) are appropriate when investors have the objective of obtaining mean-variance (VaR) efficient frontier as minimising VaR leads to non-convex and non-differential risk-return optimisation problems. However GAs are a time-consuming optimisation technique. In this paper, we propose to use a naive approach consisting of using samples split by quartile of risk to obtain complete efficient frontiers in a reasonable computation time. Our results show that using reduced problems which only consider a quartile of the assets allow us to explore the efficient frontier for a large range of risk values. In particular, the third quartile allows us to obtain efficie…
No linealidad y asimetría en el proceso generador del Índice Ibex35
2013
This paper analyzes the behavior of Ibex35 from January 1999 to December 2001, in order to check if it follows a different process from random walk so its return is not a white noise and it can be predictable, against the efficient market hypothesis. For that, a nonlinear generating process of return will be considered and a STAR-APARCH model will be specified. This model allows a nonlinear behavior in the conditional mean and in the conditional variance. The empirical results show that the Ibex35 follows a nonlinear and asymmetric process, both in the conditional mean as in the conditional variance, so the weak-version of efficient market hypothesis is rejected. El trabajo analiza el compo…
Compression Methods for Microclimate Data Based on Linear Approximation of Sensor Data
2019
Edge computing is currently one of the main research topics in the field of Internet of Things. Edge computing requires lightweight and computationally simple algorithms for sensor data analytics. Sensing edge devices are often battery powered and have a wireless connection. In designing edge devices the energy efficiency needs to be taken into account. Pre-processing the data locally in the edge device reduces the amount of data and thus decreases the energy consumption of wireless data transmission. Sensor data compression algorithms presented in this paper are mainly based on data linearity. Microclimate data is near linear in short time window and thus simple linear approximation based …
Downsizing the Electric Motors of Energy-Efficient Self-Contained Electro-Hydraulic Systems by Using Hybrid Technologies
2020
Abstract The ongoing tendency toward the electrification of hydraulic systems, mainly in the form of self-contained solutions, poses design challenges in high-power applications. An electric motor drives positive-displacement machines used to control the motion of the hydraulic actuator (nonhybrid systems encompassing one or two pumps exist in the technical literature). All the power managed by the actuator passes through the electric motor, which leads to often oversized arrangements. These detrimental characteristics are especially pronounced when the power level increases approximately above 35–40 kW. Therefore, this research paper presents and studies a self-contained, electro-hydraulic…
A new empirical method for extracting unloaded resonant frequencies from microwave resonant cavities
2003
Equivalent circuits traditionally used to model resonators and coupling networks in the vicinity of a resonance provide values of unloaded resonant frequencies which usually do not agree with experimental results. A new empirical method for the extraction of influence of coupling networks on resonant cavities is presented. The characterization of coupling structures is performed directly from measurements without the need of obtaining the electromagnetic fields inside the cavity, which is very interesting from a practical point of view. Results are validated with simulations and experimental measurements. The accuracy of some cavity applications, such as dielectric characterization techniqu…
Quasi-Normal Frequencies in Open Cavities: An Application to Photonic Crystals
2005
The electromagnetic field in an optical open cavity is analyzed in the framework of the Quasi-Normal Modes theory. The role of the complex quasi-normal frequencies in the transmission coefficient and their link with the density of quasi-modes function is clarified. An application to a quarter-wave symmetric one-dimensional photonic crystals is discussed to illustrate the usefulness and the meaning of our results.