Policy impacts on Vietnam stock markets: a case of anomalies and disequilibria 2000-2006

Vietnam launched its first-ever stock market, named as Ho Chi Minh City Securities Trading Center (HSTC) on July 20, 2000. This is one of pioneering works on HSTC, which finds empirical evidences for the following: Anomalies of the HSTC stock returns through clusters of limit-hits, limit-hit sequences; Strong herd effect toward extreme positive returns of the market portfolio;The specification of ARMA-GARCH helps capture fairly well issues such as serial correlations and fat-tailed for the stabilized period. By using further information and policy dummy variables, it is justifiable that policy decisions on technicalities of trading can have influential impacts on the move of risk level, through conditional variance behaviors of HSTC stock returns. Policies on trading and disclosure practices have had profound impacts on Vietnam Stock Market (VSM). The over-using of policy tools can harm the market and investing mentality. Price limits become increasingly irrelevant and prevent the market from self-adjusting to equilibrium. These results on VSM have not been reported before in the literature on Vietnam’s financial markets. Given the policy implications, we suggest that the Vietnamese authorities re-think the use of price limit and give more freedom to market participants.

New empirical results on anomalies and herd behaviour: Vietnam stock market 2000-2004

info:eu-repo/semantics/published

Some new results on anomalies and herd behavior: Vietnam stock market

info:eu-repo/semantics/published

Ocean climate anomalies and the ecology of the North Sea

Long-term changes in the plankton of the North Sea are investigated using data from the continuous plankton recorder (CPR) survey. During the last 4 decades, there appears to have been 2 large anomalous periods within the plankton data set, one that occurred in the late 1970s and the other in the late 1980s. These anomalous periods seem to be largely synchronous with unusual ocean climate conditions that have occurred episodically over a timescale of decades. The unusual ocean climate conditions prevailing at these 2 time periods appear to contain important hydrographical elements that involve oceanic incursions into the North Sea. This paper, using data from the CPR survey and providing evidence from other studies, focuses on the relationship between the long-term changes in the biology of the North Sea and these 2 exceptional hydro-climatic events. Here, we suggest that while atmospheric variability and associated changes in regional temperatures have a dominant effect on the marine environment, oceanic influences on the ecology of a semi-closed environment such as the North Sea may have been underestimated in the past.

Annual westward propagating anomalies near 26 degrees N and eddy generation south of the Canary Islands: remote sensing (altimeter/SeaWIFS) and in situ measurement

Seasonal changes in altimeter data are derived for the North Atlantic Ocean. Altimeter data are then used to examine annually propagating structure along 26 degree N. By averaging the altimeter data into monthly values or by Fourier analysis, a positive anomaly can be followed from 17 degree W to similar to 50 degree W along similar to 26 degree N. The methods give a westward travel speed of 1 degree of longitude a month and a half-life of one year for the average decaying structure. At similar to 50 degree W 26 degree N, the average structure is about 2.8 years old with an elevation signal of similar to 1 cm, having gravelled similar to 3300 km westward. The mean positive anomaly results from the formation of anticyclonic eddies which are generally formed annually south of the Canary Islands by late summer and which then travel westward near 26 degree N. Individual eddy structure along 26 degree N is examined and related to in situ measurements and anomalies in the annual seasonal concentration cycle of SeaWiFS chlorophyll-a.

Theoretical analysis of ocean color radiances anomalies and implications for phytoplankton groups detection in case 1 waters

Past years have seen the development of different approaches to detect phytoplankton groups from space. One of these methods, the PHYSAT one, is empirically based on reflectance anomalies. Despite observations in good agreement with in situ measurements, the underlying theoretical explanation of the method is still missing and needed by the ocean color community as it prevents improvements of the methods and characterization of uncertainties on the inversed products. In this study, radiative transfer simulations are used in addition to in situ measurements to understand the organization of the signals used in PHYSAT. Sensitivity analyses are performed to assess the impact of the variability of the following three parameters on the reflectance anomalies: specific phytoplankton absorption, colored dissolved organic matter absorption, and particles backscattering. While the later parameter explains the largest part of the anomalies variability, results show that each group is generally associated with a specific bio-optical environment which should be considered to improve methods of phytoplankton groups detection.

From silk to satellite: half a century of ocean colour anomalies in the Northeast Atlantic

Changes in phytoplankton dynamics influence marine biogeochemical cycles, climate processes, and food webs, with substantial social and economic consequences. Large-scale estimation of phytoplankton biomass was possible via ocean colour measurements from two remote sensing satellites – the Coastal Zone Color Scanner (CZCS, 1979-1986) and the Sea-viewing Wide Field-of-view Sensor (SeaWiFS, 1998-2010). Due to the large gap between the two satellite eras and differences in sensor characteristics, comparison of the absolute values retrieved from the two instruments remains challenging. Using a unique in situ ocean colour dataset that spans more than half a century, the two satellite-derived chlorophyll-a (Chl-a) eras are linked to assess concurrent changes in phytoplankton variability and bloom timing over the Northeast Atlantic Ocean and North Sea. Results from this unique re-analysis reflect a clear increasing pattern of Chl-a, a merging of the two seasonal phytoplankton blooms producing a longer growing season and higher seasonal biomass, since the mid-1980s. The broader climate plays a key role in Chl-a variability as the ocean colour anomalies parallel the oscillations of the Northern Hemisphere Temperature (NHT) since 1948.

Detecting Anomalies in Graphs with Numeric Labels

This paper presents Yagada, an algorithm to search labelled graphs for anomalies using both structural data and numeric attributes. Yagada is explained using several security-related examples and validated with experiments on a physical Access Control database. Quantitative analysis shows that in the upper range of anomaly thresholds, Yagada detects twice as many anomalies as the best-performing numeric discretization algorithm. Qualitative evaluation shows that the detected anomalies are meaningful, representing a com- bination of structural irregularities and numerical outliers.

Why multiples matter: Reconceptualising the population referred to child and family social workers

Building on a body of previous research by the author and colleagues in relation to multiple adverse childhood experiences (MACE), this paper addresses the question of ‘why multiples matter’ in relation to issues of cumulative adversity. Illustrative evidence is drawn from three research domains, epidemiology, multiple services use and child maltreatment to demonstrate the collective weight of evidence to suggest a targeting of those children and families experiencing multiple adversities to diminish the effects of such adversities realised across the life-course. Whilst the history of previous largely unsuccessful attempts to widen the range of children prioritised for intervention by child and family social workers might lead to pessimism in relation to their ability to respond to a MACE informed public health agenda, there are clear possibilities for developing agency structures, assessment tools and social work practices directed toward meeting the needs of those sub populations already prioritised by social workers: namely Children in Need, Children in need of Protection and Looked after Children.