The persistence of abnormal returns at industry and firm levels

The present paper proposes a model for the persistence of abnormal returnsboth at firm and industry levels, when longitudinal data for the profitsof firms classiffied as industries are available. The model produces a two-way variance decomposition of abnormal returns: (a) at firm versus industrylevels, and (b) for permanent versus transitory components. This variancedecomposition supplies information on the relative importance of thefundamental components of abnormal returns that have been discussed in theliterature. The model is applied to a Spanish sample of firms, obtainingresults such as: (a) there are significant and permanent differences betweenprofit rates both at industry and firm levels; (b) variation of abnormal returnsat firm level is greater than at industry level; and (c) firm and industry levelsdo not differ significantly regarding rates of convergence of abnormal returns.

Koulusaavutusaineiston analyysi asetelmaperusteisilla ja kaksitasoisilla logit-regressiomalleilla

Summary: The analysis of educational data with design-based and two-level logistic regression models

Minimal optimal generalized quantum measurements

Optimal and finite positive operator valued measurements on a finite number N of identically prepared systems have recently been presented. With physical realization in mind, we propose here optimal and minimal generalized quantum measurements for two-level systems. We explicitly construct them up to N = 7 and verify that they are minimal up to N = 5.

Organisational adaptation of multi-agent systems in a peer-to-peer scenario

Organisations in Multi-Agent Systems (MAS) have proven to be successful in regulating agent societies. Nevertheless, changes in agents' behaviour or in the dynamics of the environment may lead to a poor fulfilment of the system's purposes, and so the entire organisation needs to be adapted. In this paper we focus on endowing the organisation with adaptation capabilities, instead of expecting agents to be capable of adapting the organisation by themselves. We regard this organisational adaptation as an assisting service provided by what we call the Assistance Layer. Our generic Two Level Assisted MAS Architecture (2-LAMA) incorporates such a layer. We empirically evaluate this approach by means of an agent-based simulator we have developed for the P2P sharing network domain. This simulator implements 2-LAMA architecture and supports the comparison between different adaptation methods, as well as, with the standard BitTorrent protocol. In particular, we present two alternatives to perform norm adaptation and one method to adapt agents'relationships. The results show improved performance and demonstrate that the cost of introducing an additional layer in charge of the system's adaptation is lower than its benefits.

A multilevel multiscale finite volume method

The Multiscale Finite Volume (MsFV) method has been developed to efficiently solve reservoir-scale problems while conserving fine-scale details. The method employs two grid levels: a fine grid and a coarse grid. The latter is used to calculate a coarse solution to the original problem, which is interpolated to the fine mesh. The coarse system is constructed from the fine-scale problem using restriction and prolongation operators that are obtained by introducing appropriate localization assumptions. Through a successive reconstruction step, the MsFV method is able to provide an approximate, but fully conservative fine-scale velocity field. For very large problems (e.g. one billion cell model), a two-level algorithm can remain computational expensive. Depending on the upscaling factor, the computational expense comes either from the costs associated with the solution of the coarse problem or from the construction of the local interpolators (basis functions). To ensure numerical efficiency in the former case, the MsFV concept can be reapplied to the coarse problem, leading to a new, coarser level of discretization. One challenge in the use of a multilevel MsFV technique is to find an efficient reconstruction step to obtain a conservative fine-scale velocity field. In this work, we introduce a three-level Multiscale Finite Volume method (MlMsFV) and give a detailed description of the reconstruction step. Complexity analyses of the original MsFV method and the new MlMsFV method are discussed, and their performances in terms of accuracy and efficiency are compared.

Large-scale clustering through functional embedding

We present a new framework for large-scale data clustering. The main idea is to modify functional dimensionality reduction techniques to directly optimize over discrete labels using stochastic gradient descent. Compared to methods like spectral clustering our approach solves a single optimization problem, rather than an ad-hoc two-stage optimization approach, does not require a matrix inversion, can easily encode prior knowledge in the set of implementable functions, and does not have an ?out-of-sample? problem. Experimental results on both artificial and real-world datasets show the usefulness of our approach.

An operator formulation of the multiscale finite-volume method with correction function

The multiscale finite-volume (MSFV) method has been derived to efficiently solve large problems with spatially varying coefficients. The fine-scale problem is subdivided into local problems that can be solved separately and are coupled by a global problem. This algorithm, in consequence, shares some characteristics with two-level domain decomposition (DD) methods. However, the MSFV algorithm is different in that it incorporates a flux reconstruction step, which delivers a fine-scale mass conservative flux field without the need for iterating. This is achieved by the use of two overlapping coarse grids. The recently introduced correction function allows for a consistent handling of source terms, which makes the MSFV method a flexible algorithm that is applicable to a wide spectrum of problems. It is demonstrated that the MSFV operator, used to compute an approximate pressure solution, can be equivalently constructed by writing the Schur complement with a tangential approximation of a single-cell overlapping grid and incorporation of appropriate coarse-scale mass-balance equations.

Towards Machine Consciousness: Grounding Abstract Models as pi-Processes

We present a two-level model of concurrent communicating systems (CCS) to serve as a basis formachine consciousness. A language implementing threads within logic programming is ¯rstintroduced. This high-level framework allows for the de¯nition of abstract processes that can beexecuted on a virtual machine. We then look for a possible grounding of these processes into thebrain. Towards this end, we map abstract de¯nitions (including logical expressions representingcompiled knowledge) into a variant of the pi-calculus. We illustrate this approach through aseries of examples extending from a purely reactive behavior to patterns of consciousness.

Taajuusmuuttajan häviöidensimulointityökalun kehitys

Diplomityössä on kehitetty kaksitasoisen jännitevälipiirillisen taajuusmuuttajan häviöiden simulointiin käytettävä simulointimalli osaksi säädettävän sähkömoottorikäytön simulointityökalua, jolla voidaan analysoida eri säätöalgoritmien, kuormituksen ja kytkentätaajuuden vaikutusta taajuusmuuttajan häviöihin. Aluksi on selvitetty yksityiskohtaisesti taajuusmuuttajan häviölähteet ja häviöiden fysikaalinen tausta. Taajuusmuuttajassa käytettäville komponenteille on esitetty simulointimalleja. Taajuusmuuttajan malli ja häviöiden laskenta-algoritmit on toteutettu C-kielellä. Taajuusmuuttajan malli vastaa perusrakenteeltaan ACS800-02-0260-5 - taajuusmuuttajaa. ACS800-02-0260-5 -taajuusmuuttajan häviöitä on simuloitu erilaisissa kuormitustilanteissa, ja simulointien tueksi taajuusmuuttajan häviöt on pyritty selvittämään laboratoriomittauksin.

1000 V sähkönjakelujärjestelmän teknistaloudellisen kannattavuuden tarkastelu

Tässä työssä tutkitaan 1000 V pienjännitejakelun taloudellista kannattavuutta. Tutkimus perustuu teoreettiseen tarkasteluun, jossa noudatetaan yleisiä verkostosuunnittelun periaatteita. EU-lainsäädäntö mahdollistaa 1000 V pienjänniteportaan sijoittamisen nykyisen keskijänniteverkon ja pienjänniteverkon väliin lisäten kolmannen jakelujänniteportaan nykyään käytettävien 20 kV ja 0,4 kV väliin. Jakeluverkkojen kehittämiseksi on etsittävä ratkaisu, joka on taloudellinen sekä asiakkaiden että verkonhaltijoiden kannalta. Tällaiset ratkaisut pienentävät verkon käytön kokonaiskustannuksia ja parantavat sähkön laatua. Lisättäessä jakeluverkkoon kolmas jänniteporras, keskijänniteverkon johtopituus lyhenee ja varsinkin lyhyiden haarajohtojen määrä vähenee. Tämä vähentää keskijänniteverkossa esiintyvien keskeytysten määrää ja pienentää keskeytyskustannuksia. Kilovoltin järjestelmä on kannattava korvattaessa sillä osa keskijänniteverkkoa, tai estettäessä perinteisellä järjestelmällä tarvittava muuntopiirin jakaminen. Osana varsinaista pienjänniteverkkoa ei kilovoltinjärjestelmä ole kannattava. Tässä työssä kolmijänniteportaista jakeluverkkoa tutkitaan teoreettisilla verkkosuunnitelmilla, joita tehdään muutamille perusverkkotopologioille. Taloudellista kannattavuutta tutkitaan vertaamalla perinteistä kaksijänniteportaista ja kolmijänniteportaista verkkoratkaisua kustannusten suhteen teknisten reunaehtojen puitteissa. 1000 V pienjännitejakelu vaatii uudenlaisia verkostokomponentteja. Näistä on erityisesti käsitelty 1/0,4 kV pienjännitemuuntajaa. Muuntajasuunnittelun lähtökohtana on 1000 V verkon käyttäminen keskijänniteverkon jatkeena maasta erotettuna verkkona.

The effect of learning on the evolution of new courtship behavior: a simulation model

The fact that individuals learn can change the relationship between genotype and phenotype in the population, and thus affect the evolutionary response to selection. Here we ask how male ability to learn from female response affects the evolution of a novel male behavioral courtship trait under pre-existing female preference (sensory drive). We assume a courtship trait which has both a genetic and a learned component, and a two-level female response to males. With individual-based simulations we show that, under this scenario, learning generally increases the strength of selection on the genetic component of the courtship trait, at least when the population genetic mean is still low. As a consequence, learning not only accelerates the evolution of the courtship trait, but also enables it when the trait is costly, which in the absence of learning results in an adaptive valley. Furthermore, learning can enable the evolution of the novel trait in the face of gene flow mediated by immigration of males that show superior attractiveness to females based on another, non-heritable trait. However, rather than increasing monotonically with the speed of learning, the effect of learning on evolution is maximized at intermediate learning rates. This model shows that, at least under some scenarios, the ability to learn can drive the evolution of mating behaviors through a process equivalent to Waddington's genetic assimilation.

Condutância molecular e biomolecular

The concept of molecular conductance is discussed in terms of the propagation of an electronic interaction, between electron donor and acceptor groups, through the bonds of a molecular structure where these groups are embedded. The electronic interaction propagation is described by a Green's function matrix element, in a donor-bridge-acceptor molecular system reduced to a two-level representation.

Parallel-Operating Three-Phase Voltage Source Inverters – Circulating CurrentModeling, Analysis and Mitigation

The maximum realizable power throughput of power electronic converters may be limited or constrained by technical or economical considerations. One solution to this problemis to connect several power converter units in parallel. The parallel connection can be used to increase the current carrying capacity of the overall system beyond the ratings of individual power converter units. Thus, it is possible to use several lower-power converter units, produced in large quantities, as building blocks to construct high-power converters in a modular manner. High-power converters realized by using parallel connection are needed for example in multimegawatt wind power generation systems. Parallel connection of power converter units is also required in emerging applications such as photovoltaic and fuel cell power conversion. The parallel operation of power converter units is not, however, problem free. This is because parallel-operating units are subject to overcurrent stresses, which are caused by unequal load current sharing or currents that flow between the units. Commonly, the term ’circulatingcurrent’ is used to describe both the unequal load current sharing and the currents flowing between the units. Circulating currents, again, are caused by component tolerances and asynchronous operation of the parallel units. Parallel-operating units are also subject to stresses caused by unequal thermal stress distribution. Both of these problemscan, nevertheless, be handled with a proper circulating current control. To design an effective circulating current control system, we need information about circulating current dynamics. The dynamics of the circulating currents can be investigated by developing appropriate mathematical models. In this dissertation, circulating current models aredeveloped for two different types of parallel two-level three-phase inverter configurations. Themodels, which are developed for an arbitrary number of parallel units, provide a framework for analyzing circulating current generation mechanisms and developing circulating current control systems. In addition to developing circulating current models, modulation of parallel inverters is considered. It is illustrated that depending on the parallel inverter configuration and the modulation method applied, common-mode circulating currents may be excited as a consequence of the differential-mode circulating current control. To prevent the common-mode circulating currents that are caused by the modulation, a dual modulator method is introduced. The dual modulator basically consists of two independently operating modulators, the outputs of which eventually constitute the switching commands of the inverter. The two independently operating modulators are referred to as primary and secondary modulators. In its intended usage, the same voltage vector is fed to the primary modulators of each parallel unit, and the inputs of the secondary modulators are obtained from the circulating current controllers. To ensure that voltage commands obtained from the circulating current controllers are realizable, it must be guaranteed that the inverter is not driven into saturation by the primary modulator. The inverter saturation can be prevented by limiting the inputs of the primary and secondary modulators. Because of this, also a limitation algorithm is proposed. The operation of both the proposed dual modulator and the limitation algorithm is verified experimentally.

Distributed ControlArchitecture of Power Electronics Building-Block-Based Frequency Converters

The increasing power demand and emerging applications drive the design of electrical power converters into modularization. Despite the wide use of modularized power stage structures, the control schemes that are used are often traditional, in other words, centralized. The flexibility and re-usability of these controllers are typically poor. With a dedicated distributed control scheme, the flexibility and re-usability of the system parts, building blocks, can be increased. Only a few distributed control schemes have been introduced for this purpose, but their breakthrough has not yet taken place. A demand for the further development offlexible control schemes for building-block-based applications clearly exists. The control topology, communication, synchronization, and functionality allocationaspects of building-block-based converters are studied in this doctoral thesis. A distributed control scheme that can be easily adapted to building-block-based power converter designs is developed. The example applications are a parallel and series connection of building blocks. The building block that is used in the implementations of both the applications is a commercial off-the-shelf two-level three-phase frequency converter with a custom-designed controller card. The major challenge with the parallel connection of power stages is the synchronization of the building blocks. The effect of synchronization accuracy on the system performance is studied. The functionality allocation and control scheme design are challenging in the seriesconnected multilevel converters, mainly because of the large number of modules. Various multilevel modulation schemes are analyzed with respect to the implementation, and this information is used to develop a flexible control scheme for modular multilevel inverters.

Organizational mechanisms and conditions of individuals for knowledge sharing in post-acquisition integration

The challenges of knowledge sharing after cross-border acquisitions are widely recognised. The study took a new view to the subject by applying a two-level framework provided by the knowledge governance approach. The purpose of the study was to investigate the effects of organizational mechanisms on the conditions of individuals for knowledge sharing in post-acquisition integration context. Qualitative research methods were used in this case study. Individual interviews were performed within an international firm after a recent cross-border acquisition. The results showed that integrators, the rotation of the personnel from the acquiring firm and visits and meetings enhance the conditions at the individual level for knowledge sharing after the acquisition. Respectively, strategic change, matrix structure and foreign HRM practices challenge the conditions at the individual level for knowledge sharing in the early post-acquisition integration phase. The findings are supported by the prior research on knowledge management in acquisitions. In particular, the study enlightens how organizational level actions influence the conditions of individuals for knowledge sharing. The study suggests that organizations should adjust organizational mechanisms to support the conditions of individuals, in order to promote knowledge sharing in the early phase of the integration.