992 resultados para Applied finance


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The quick detection of abrupt (unknown) parameter changes in an observed hidden Markov model (HMM) is important in several applications. Motivated by the recent application of relative entropy concepts in the robust sequential change detection problem (and the related model selection problem), this paper proposes a sequential unknown change detection algorithm based on a relative entropy based HMM parameter estimator. Our proposed approach is able to overcome the lack of knowledge of post-change parameters, and is illustrated to have similar performance to the popular cumulative sum (CUSUM) algorithm (which requires knowledge of the post-change parameter values) when examined, on both simulated and real data, in a vision-based aircraft manoeuvre detection problem.

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This chapter provides a historical materialist review of the development of applied and critical linguistics and their extensions and applications to the fields of English Language studies. Following Bourdieu, we view intellectual fields and their affiliated discourses as constructed in relation to specific economic and political formations and sociocultural contexts. We therefore take ‘applied linguistics’, ‘critical language studies’ and ‘English language studies’ as fields in dynamic and contested formation and relationship. Our review focuses on three historical moments. In the postwar period, we describe the technologisation of linguistics – with the enlistment of linguistics in the applied fields of language planning, literacy education and second/foreign language teaching. We then turn to document the multinationalisation of English, which, we argue entails a rationalisation of English as a universal form of economic capital in globalised economic and cultural flows. We conclude by exploring scenarios for the displacement of English language studies as a major field by other emergent economic lingua franca (e.g., Mandarin, Spanish) and shifts in the economic and cultural nexus of control over English from an Anglo/American centre to East and West Asia.

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This paper considers VECMs for variables exhibiting cointegration and common features in the transitory components. While the presence of cointegration between the permanent components of series reduces the rank of the long-run multiplier matrix, a common feature among the transitory components leads to a rank reduction in the matrix summarizing short-run dynamics. The common feature also implies that there exists linear combinations of the first-differenced variables in a cointegrated VAR that are white noise and traditional tests focus on testing for this characteristic. An alternative, however, is to test the rank of the short-run dynamics matrix directly. Consequently, we use the literature on testing the rank of a matrix to produce some alternative test statistics. We also show that these are identical to one of the traditional tests. The performance of the different methods is illustrated in a Monte Carlo analysis which is then used to re-examine an existing empirical study. Finally, this approach is applied to provide a check for the presence of common dynamics in DSGE models.

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In this 25th year of publication of the Accounting Research Journal we pay tribute to the efforts of the dedicated Editors who have successfully guided and developed the journal since its inception in 1988. After the rapid growth in accounting and finance research in the 1970s and 1980s the absence of outlets in Asia-Pacific region to publish novel, timely and applied research became increasingly apparent. In response to this gap, ARJ’s first volume was published in 1988 by the School of Accountancy at the Queensland Institute of Technology (QIT), which became the Queensland University of Technology (QUT) in the following year. The founding Editor was Myles McGregor-Lowndes and his editorship continued for three years until Scott Holmes took over as Editor in 1991. In 1992, Robert Faff joined Scott Holmes as Joint Editor, and their joint editorship continued for six years until Robert Faff took the reins as Editor in 1998. At that time Scott remained as Associate Editor and the editorial team was joined by Roger Willett as Consulting Editor and Chris Lambert as Associate Editor. This arrangement continued until 2002 when Tim Brailsford was newly appointed as Managing Editor. The editorship returned to QUT in 2008 and was taken on by Chris Ryan with our support as Co-editors. Since 2011 we have been the Joint Editors. Table 1 lists the individuals who have been involved in editing ARJ over the 25-year period and their roles...