The Design and Implementation of a SD Card File System

SD card (Secure Digital Memory Card) is widely used in portable storage medium. Currently, latest researches on SD card, are mainly SD card controller based on FPGA (Field Programmable Gate Array). Most of them are relying on API interface (Application Programming Interface), AHB bus (Advanced High performance Bus), etc. They are dedicated to the realization of ultra high speed communication between SD card and upper systems. Studies about SD card controller, really play a vital role in the field of high speed cameras and other sub-areas of expertise. This design of FPGA-based file systems and SD2.0 IP (Intellectual Property core) does not only exhibit a nice transmission rate, but also achieve the systematic management of files, while retaining a strong portability and practicality. The file system design and implementation on a SD card covers the main three IP innovation points. First, the combination and integration of file system and SD card controller, makes the overall system highly integrated and practical. The popular SD2.0 protocol is implemented for communication channels. Pure digital logic design based on VHDL (Very-High-Speed Integrated Circuit Hardware Description Language), integrates the SD card controller in hardware layer and the FAT32 file system for the entire system. Secondly, the document management system mechanism makes document processing more convenient and easy. Especially for small files in batch processing, it can ease the pressure of upper system to frequently access and process them, thereby enhancing the overall efficiency of systems. Finally, digital design ensures the superior performance. For transmission security, CRC (Cyclic Redundancy Check) algorithm is for data transmission protection. Design of each module is platform-independent of macro cells, and keeps a better portability. Custom integrated instructions and interfaces may facilitate easily to use. Finally, the actual test went through multi-platform method, Xilinx and Altera FPGA developing platforms. The timing simulation and debugging of each module was covered. Finally, Test results show that the designed FPGA-based file system IP on SD card can support SD card, TF card and Micro SD with 2.0 protocols, and the successful implementation of systematic management for stored files, and supports SD bus mode. Data read and write rates in Kingston class10 card is approximately 24.27MB/s and 16.94MB/s.

Information Content of Bank Credit Rating Changes: Evidence from Europe

This thesis examines the short-term impact of credit rating announcements on daily stock returns of 41 European banks indexed in STOXX Europe 600 Banks. The time period of this study is 2002–2015 and the ratings represent long-term issuer ratings provided by S&P, Moody’s and Fitch. Bank ratings are significant for a bank’s operation costs so it is interesting to investigate how investors react to changes in creditworthiness. The study objective is achieved by conducting an event study. The event study is extended with a cross-sectional linear regression to investigate other potential determinants surrounding rating changes. The research hypotheses and the motivation for additional tests are derived from prior research. The main hypotheses are formed to explore whether rating changes have an effect on stock returns, when this possible reaction occurs and whether it is asymmetric between upgrades and downgrades. The findings provide evidence that rating announcements have an impact on stock returns in the context of European banks. The results also support the existence of an asymmetry in capital market reaction to rating upgrades and downgrades. The rating downgrades are associated with statistically significant negative abnormal returns on the event day although the reaction is rather modest. No statistically significant reaction is found associated with the rating upgrades on the event day. These results hold true with both rating changes and rating watches. No anticipation is observed in the case of rating changes but there is a statistically significant cumulative negative (positive) price reaction occurring before the event day for negative (positive) watch announcements. The regression provides evidence that the stock price reaction is stronger for rating downgrades occurring within below investment grade class compared with investment grade class. This is intuitive as investors are more concerned about their investments in lower-rated companies. Besides, the price reaction of larger banks is more mitigated compared with smaller banks in the case of rating downgrades. The reason for this may be that larger banks are usually more widely followed by the public. However, the study results may also provide evidence of the existence of the so-called “too big to fail” subsidy that dampens the negative returns of larger banks.