Efficiency of chitosan and their combination with bentonite as retention aids in papermaking

In a previous work (Nicu et al. 2013), the flocculation efficiency of three chitosans differing by molecular weight and charge density were evaluated for their potential use as wet end additives in papermaking. According to the promising results obtained, chitosan (single system) and its combination with bentonite (dual system) were evaluated as retention aids, and their efficiency was compared with poly(diallyl dimethyl ammonium chloride) (PDADMAC) and polyethylenimine (PEI). In single systems, chitosan was clearly more efficient in drainage rate than PDADMAC and PEI, especially those with the lowest molecular weights; however, retention is considerably lower. This drawback can be overcome by using dual systems with anionic bentonite microparticles, with the optimum ratio of polymer:bentonite being 1:4 (wt./wt.). In dual systems, the differences in retention were almost negligible, and the difference in drainage rate was even higher, together with better floc reversibility. The most efficient chitosan in single systems was Ch.MMW, while Ch.LMW was the most efficient in dual systems. The flocculation mechanism of chitosan was a combination of patch formation, charge neutralization, and partial bridge formation, and the predominant mechanism depended on the molecular weight and charge density of the chitosan.

An econometric analysis of ETF and ETF futures in financial and energy markets using generated regressors

It is well known that that there is an intrinsic link between the financial and energy sectors, which can be analyzed through their spillover effects, which are measures of how the shocks to returns in different assets affect each other’s subsequent volatility in both spot and futures markets. Financial derivatives, which are not only highly representative of the underlying indices but can also be traded on both the spot and futures markets, include Exchange Traded Funds (ETFs), which is a tradable spot index whose aim is to replicate the return of an underlying benchmark index. When ETF futures are not available to examine spillover effects, “generated regressors” may be used to construct both Financial ETF futures and Energy ETF futures. The purpose of the paper is to investigate the covolatility spillovers within and across the US energy and financial sectors in both spot and futures markets, by using “generated regressors” and a multivariate conditional volatility model, namely Diagonal BEKK. The daily data used are from 1998/12/23 to 2016/4/22. The data set is analyzed in its entirety, and also subdivided into three subset time periods. The empirical results show there is a significant relationship between the Financial ETF and Energy ETF in the spot and futures markets. Therefore, financial and energy ETFs are suitable for constructing a financial portfolio from an optimal risk management perspective, and also for dynamic hedging purposes.