On the utility of input selection and pruning for financial distress prediction models

Analyzes the use of linear and neural network models for financial distress classification, with emphasis on the issues of input variable selection and model pruning. A data-driven method for selecting input variables (financial ratios, in this case) is proposed. A case study involving 60 British firms in the period 1997-2000 is used for illustration. It is shown that the use of the Optimal Brain Damage pruning technique can considerably improve the generalization ability of a neural model. Moreover, the set of financial ratios obtained with the proposed selection procedure is shown to be an appropriate alternative to the ratios usually employed by practitioners.

Variable selection for financial distress classification using a genetic algorithm

This paper is concerned with the use of a genetic algorithm to select financial ratios for corporate distress classification models. For this purpose, the fitness value associated to a set of ratios is made to reflect the requirements of maximizing the amount of information available for the model and minimizing the collinearity between the model inputs. A case study involving 60 failed and continuing British firms in the period 1997-2000 is used for illustration. The classification model based on ratios selected by the genetic algorithm compares favorably with a model employing ratios usually found in the financial distress literature.

The Heliospheric Imagers onboard the STEREO mission

Mounted on the sides of two widely separated spacecraft, the two Heliospheric Imager (HI) instruments onboard NASA’s STEREO mission view, for the first time, the space between the Sun and Earth. These instruments are wide-angle visible-light imagers that incorporate sufficient baffling to eliminate scattered light to the extent that the passage of solar coronal mass ejections (CMEs) through the heliosphere can be detected. Each HI instrument comprises two cameras, HI-1 and HI-2, which have 20° and 70° fields of view and are off-pointed from the Sun direction by 14.0° and 53.7°, respectively, with their optical axes aligned in the ecliptic plane. This arrangement provides coverage over solar elongation angles from 4.0° to 88.7° at the viewpoints of the two spacecraft, thereby allowing the observation of Earth-directed CMEs along the Sun – Earth line to the vicinity of the Earth and beyond. Given the two separated platforms, this also presents the first opportunity to view the structure and evolution of CMEs in three dimensions. The STEREO spacecraft were launched from Cape Canaveral Air Force Base in late October 2006, and the HI instruments have been performing scientific observations since early 2007. The design, development, manufacture, and calibration of these unique instruments are reviewed in this paper. Mission operations, including the initial commissioning phase and the science operations phase, are described. Data processing and analysis procedures are briefly discussed, and ground-test results and in-orbit observations are used to demonstrate that the performance of the instruments meets the original scientific requirements.

Pre-CME onset fuses: do the STEREO heliospheric imagers hold the clues to the CME onset process?

Understanding the onset of coronal mass ejections (CMEs) is surely one of the holy grails of solar physics today. Inspection of data from the Heliospheric Imagers (HI), which are part of the SECCHI instrument suite aboard the two NASA STEREO spacecraft, appears to have revealed pre-eruption signatures which may provide valuable evidence for identifying the CME onset mechanism. Specifically, an examination of the HI images has revealed narrow rays comprised of a series of outward-propagating plasma blobs apparently forming near the edge of the streamer belt prior to many CME eruptions. In this pilot study, we inspect a limited dataset to explore the significance of this phenomenon, which we have termed a pre-CME ‘fuse’. Although, the enhanced expulsion of blobs may be consistent with an increase in the release of outward-propagating blobs from the streamers themselves, it could also be interpreted as evidence for interchange reconnection in the period leading to a CME onset. Indeed, it is argued that the latter could even have implications for the end-of-life of CMEs. Thus, the presence of these pre-CME fuses provides evidence that the CME onset mechanism is either related to streamer reconnection processes or the reconnection between closed field lines in the streamer belt and adjacent, open field lines. We investigate the nature of these fuses, including their timing and location with respect to CME launch sites, as well as their speed and topology.

Modelling niches of arbitrary shape in genetic algorithms using Niche Linkage in the Dynamic Niche Clustering framework

We present some additions to a fuzzy variable radius niche technique called Dynamic Niche Clustering (DNC) (Gan and Warwick, 1999; 2000; 2001) that enable the identification and creation of niches of arbitrary shape through a mechanism called Niche Linkage. We show that by using this mechanism it is possible to attain better feature extraction from the underlying population.

The plastic self organising map

A novel extension to Kohonen's self-organising map, called the plastic self organising map (PSOM), is presented. PSOM is unlike any other network because it only has one phase of operation. The PSOM does not go through a training cycle before testing, like the SOM does and its variants. Each pattern is thus treated identically for all time. The algorithm uses a graph structure to represent data and can add or remove neurons to learn dynamic nonstationary pattern sets. The network is tested on a real world radar application and an artificial nonstationary problem.

Transputer based real time robot control

A parallel processor architecture based on a communicating sequential processor chip, the transputer, is described. The architecture is easily linearly extensible to enable separate functions to be included in the controller. To demonstrate the power of the resulting controller some experimental results are presented comparing PID and full inverse dynamics on the first three joints of a Puma 560 robot. Also examined are some of the sample rate issues raised by the asynchronous updating of inertial parameters, and the need for full inverse dynamics at every sample interval is questioned.

Predicting the arrival of high-speed solar wind streams at Earth using the STEREO Heliospheric Imagers

High-speed solar wind streams modify the Earth's geomagnetic environment, perturbing the ionosphere, modulating the flux of cosmic rays into the Earth atmosphere, and triggering substorms. Such activity can affect modern technological systems. To investigate the potential for predicting the arrival of such streams at Earth, images taken by the Heliospheric Imager (HI) on the STEREO-A spacecraft have been used to identify the onsets of high-speed solar wind streams from observations of regions of increased plasma concentrations associated with corotating interaction regions, or CIRs. In order to confirm that these transients were indeed associated with CIRs and to study their average properties, arrival times predicted from the HI images were used in a superposed epoch analysis to confirm their identity in near-Earth solar wind data obtained by the Advanced Composition Explorer (ACE) spacecraft and to observe their influence on a number of salient geophysical parameters. The results are almost identical to those of a parallel superposed epoch analysis that used the onset times of the high-speed streams derived from east/west deflections in the ACE measurements of solar wind speed to predict the arrival of such streams at Earth, assuming they corotated with the Sun with a period of 27 days. Repeating the superposed epoch analysis using restricted data sets demonstrates that this technique can provide a timely prediction of the arrival of CIRs at least 1 day ahead of their arrival at Earth and that such advanced warning can be provided from a spacecraft placed 40° ahead of Earth in its orbit.

Observational tracking of the 2D structure of coronal mass ejections between the sun and 1 AU

The Solar TErrestrial RElations Observatory (STEREO) provides high cadence and high resolution images of the structure and morphology of coronal mass ejections (CMEs) in the inner heliosphere. CME directions and propagation speeds have often been estimated through the use of time-elongation maps obtained from the STEREO Heliospheric Imager (HI) data. Many of these CMEs have been identified by citizen scientists working within the SolarStormWatch project ( www.solarstormwatch.com ) as they work towards providing robust real-time identification of Earth-directed CMEs. The wide field of view of HI allows scientists to directly observe the two-dimensional (2D) structures, while the relative simplicity of time-elongation analysis means that it can be easily applied to many such events, thereby enabling a much deeper understanding of how CMEs evolve between the Sun and the Earth. For events with certain orientations, both the rear and front edges of the CME can be monitored at varying heliocentric distances (R) between the Sun and 1 AU. Here we take four example events with measurable position angle widths and identified by the citizen scientists. These events were chosen for the clarity of their structure within the HI cameras and their long track lengths in the time-elongation maps. We show a linear dependency with R for the growth of the radial width (W) and the 2D aspect ratio (χ) of these CMEs, which are measured out to ≈ 0.7 AU. We estimated the radial width from a linear best fit for the average of the four CMEs. We obtained the relationships W=0.14R+0.04 for the width and χ=2.5R+0.86 for the aspect ratio (W and R in units of AU).

Macroclimate and viticultural zoning in Europe: observed trends and atmospheric forcing

Temperature and precipitation are major forcing factors influencing grapevine phenology and yield, as well as wine quality. Bioclimatic indices describing the suitability of a particular region for wine production are a commonly used tool for viticultural zoning. For this research these indices were computed for Europe by using the E-OBS gridded daily temperature and precipitation data set for the period from 1950 to 2009. Results showed strong regional contrasts based on the different index patterns and reproduced the wide diversity of local conditions that largely explain the quality and diversity of grapevines being grown across Europe. Owing to the strong inter-annual variability in the indices, a trend analysis and a principal component analysis were applied together with an assessment of their mean patterns. Significant trends were identified in the Winkler and Huglin indices, particularly for southwestern Europe. Four statistically significant orthogonal modes of variability were isolated for the Huglin index (HI), jointly representing 82% of the total variance in Europe. The leading mode was largely dominant (48% of variance) and mainly reflected the observed historical long-term changes. The other 3 modes corresponded to regional dipoles within Europe. Despite the relevance of local and regional climatic characteristics to grapevines, it was demonstrated via canonical correlation analysis that the observed inter-annual variability of the HI was strongly controlled by the large-scale atmospheric circulation during the growing season (April to September).

A self-similar expansion model for use in solar wind transient propogation studies

Since the advent of wide-angle imaging of the inner heliosphere, a plethora of techniques have been developed to investigate the three-dimensional structure and kinematics of solar wind transients, such as coronal mass ejections, from their signatures in single- and multi-spacecraft imaging observations. These techniques, which range from the highly complex and computationally intensive to methods based on simple curve fitting, all have their inherent advantages and limitations. In the analysis of single-spacecraft imaging observations, much use has been made of the fixed φ fitting (FPF) and harmonic mean fitting (HMF) techniques, in which the solar wind transient is considered to be a radially propagating point source (fixed φ, FP, model) and a radially expanding circle anchored at Sun centre (harmonic mean, HM, model), respectively. Initially, we compare the radial speeds and propagation directions derived from application of the FPF and HMF techniques to a large set of STEREO/Heliospheric Imager (HI) observations. As the geometries on which these two techniques are founded constitute extreme descriptions of solar wind transients in terms of their extent along the line of sight, we describe a single-spacecraft fitting technique based on a more generalized model for which the FP and HM geometries form the limiting cases. In addition to providing estimates of a transient’s speed and propagation direction, the self-similar expansion fitting (SSEF) technique provides, in theory, the capability to estimate the transient’s angular extent in the plane orthogonal to the field of view. Using the HI observations, and also by performing a Monte Carlo simulation, we assess the potential of the SSEF technique.

The distribution of interplanetary dust between 0.96 and 1.04 au as inferred from impacts on the STEREO spacecraft observed by the heliospheric imagers

The distribution of dust in the ecliptic plane between 0.96 and 1.04 au has been inferred from impacts on the two Solar Terrestrial Relations Observatory (STEREO) spacecraft through observation of secondary particle trails and unexpected off-points in the heliospheric imager (HI) cameras. This study made use of analysis carried out by members of a distributed web-based citizen science project Solar Stormwatch. A comparison between observations of the brightest particle trails and a survey of fainter trails shows consistent distributions. While there is no obvious correlation between this distribution and the occurrence of individual meteor streams at Earth, there are some broad longitudinal features in these distributions that are also observed in sources of the sporadic meteor population. The different position of the HI instrument on the two STEREO spacecraft leads to each sampling different populations of dust particles. The asymmetry in the number of trails seen by each spacecraft and the fact that there are many more unexpected off-points in the HI-B than in HI-A indicates that the majority of impacts are coming from the apex direction. For impacts causing off-points in the HI-B camera, these dust particles are estimated to have masses in excess of 10−17 kg with radii exceeding 0.1 μm. For off-points observed in the HI-A images, which can only have been caused by particles travelling from the anti-apex direction, the distribution is consistent with that of secondary ‘storm’ trails observed by HI-B, providing evidence that these trails also result from impacts with primary particles from an anti-apex source. Investigating the mass distribution for the off-points of both HI-A and HI-B, it is apparent that the differential mass index of particles from the apex direction (causing off-points in HI-B) is consistently above 2. This indicates that the majority of the mass is within the smaller particles of this population. In contrast, the differential mass index of particles from the anti-apex direction (causing off-points in HI-A) is consistently below 2, indicating that the majority of the mass is to be found in larger particles of this distribution.

An investigation into the viability of LibraryThing for promotional and user engagement purposes in libraries

Structured abstract: Purpose: LibraryThing is a Web 2.0 tool allowing users to catalogue books using data drawn from sources such as Amazon and the Library of Congress and has facilities such as tagging and interest groups. This study evaluates whether LibraryThing is a valuable tool for libraries to use for promotional and user engagement purposes. Methodology: This study used a sequential mixed methods 3 phase design: (1) the identification of LibraryThing features for user engagement or promotional purposes, (2) exploratory semi-structured interviews (3) a questionnaire. Findings: Several uses of LibraryThing for promotional and user engagement purposes were identified. The most popular reason libraries used LibraryThing was to promote the library or library stock, with most respondents using it specifically to highlight collections of books. Monitoring of patron usage was low and many respondents had not received any feedback. LibraryThing was commonly reported as being easy to use, remotely accessible, and having low cost, whilst its main drawbacks were the 200 book limit for free accounts, and it being a third-party site. The majority of respondents felt LibraryThing was a useful tool for libraries. Practical implications: LibraryThing has most value as a promotional tool for libraries. Libraries should actively monitor patron usage of their LibraryThing account or request user feedback to ensure that LibraryThing provides a truly valuable service for their library. Orginality : There is little research on the value of LibraryThing for libraries, or librarians perceptions of LibraryThing as a Web 2.0 tool.

Transdifferential and transintegral calculus

The set of transreal numbers is a superset of the real numbers. It totalises real arithmetic by defining division by zero in terms of three def- inite, non-finite numbers: positive infinity, negative infinity and nullity. Elsewhere, in this proceedings, we extended continuity and limits from the real domain to the transreal domain, here we extended the real derivative to the transreal derivative. This continues to demonstrate that transreal analysis contains real analysis and operates at singularities where real analysis fails. Hence computer programs that rely on computing deriva- tives { such as those used in scientific, engineering and financial applica- tions { are extended to operate at singularities where they currently fail. This promises to make software, that computes derivatives, both more competent and more reliable. We also extended the integration of absolutely convergent functions from the real domain to the transreal domain.

Behaviour models clarify definitions of affordance and capability

There is ongoing work on conceptual modelling of such busi- ness notions as Affordance and Capability. We have found that such business notions as Affordance and Capability are constructively defned using elements and properties of exe- cutable behaviour models. In this paper, we clarify the def- initions of Affordance and Capability using Coloured Petri Nets and Protocol models.The illustrating case is the process of drug injection. We show that different behaviour modelling techniques provide different precision for definition of Affordance and Capability and clarify the conceptual models of these notions. We generalise that the behaviour models can be used to improve the precision of conceptualization.