Junan audiovahvistimen laitesuunnittelu

Joukkoliikenteen merkitys suurten ihmismäärien liikuttamisessa on kasvanut. Kaupunkikeskustat ovat monin paikoin ruuhkautuneet ja joukkoliikenteestä pyritään tekemään mahdollisimman houkuttelevaa ruuhkien helpottamiseksi. Yksi keino houkutella ihmisiä joukkoliikennevälineiden käyttäjiksi on parantaa matkustajille tarjottavan informaation määrää ja laatua. Matkustajainformaatiojärjestelmä on monipuolinen kokonaisuus, jolla joukkoliikenteen käyttäjälle tarjotaan muun muassa opastusta, aikataulutietoa ja häiriötietoa. Informaatio voi olla staattista kuten painetut aikataulut ja kiinteät opasteet tai dynaamista kuten reaaliaikaiset näytöt ja kuulutukset. Informaatiota voidaan tarjota matkustajan käyttöön niin kotona ja liikenneasemilla kuin liikkuvassa kalustossakin. Matkustajainformaatiojärjestelmiä on käytössä erilaisissa joukkoliikennevälineissä, joista tässä diplomityössä syvennytään raideliikenteeseen. Työssä suunnitellaan ja toteutetaan raideliikenteen vaatimukset täyttävä IP-pohjainen audiovahvistin. Valmis vahvistin liittyy Ethernet-verkon välityksellä raideliikenteen matkustajainformaatio-järjestelmään. Laite toimii kuulutus- ja puhelinjärjestelmän keskusyksikkönä. Työn tuloksena saatiin toimiva ja sarjatuotantokelpoinen audiovahvistin. Laitteen tyyppitestit ovat tätä työtä palautettaessa vielä kesken, mutta tähän mennessä testit ovat menneet hyvin ja laite on toiminut hyvin myös osana järjestelmää.

Effects of stock splits on stock returns: An event study of Finnish companies

Tämän kandidaatintyön tavoitteena on tutkia osakkeen nimellisarvon jakamisen vaikutusta osakkeen markkina-arvoon Suomessa vuosina 1996-2007. Ilmiötä tarkastellaan tapahtumatutkimusmenetelmän avulla ja lopullinen tutkittavien osakesplittien määrä on 38. Tutkimuksessa ei löydetty epänormaaleja tuottoja splittien julkistushetkellä, joten tämän aineiston mukaan sijoittajat eivät pitäneet sitä johdolta tulevana positiivisena signaalina. Sitä vastoin tutkimuksessa löydettiin positiivinen kurssimuutos niiden osakkeiden kohdalla, jolloin pörssiyhtiö ilmoitti splitin ohella myös osingonjaostaan.

Rocking the Euro boat: scheduled market announcements' effects on Euro implied volatility

The purpose of this thesis is to investigate scheduled market announcements’ effects on Euro implied volatility. Timeline selected for this study ranges from 2005 to 2009. The method chosen is so-called event study approach, in which five days prior to a news announcement stand for a pre-event period, and five days after the announcement form a post-event period. Statistical research method employed is Mann-Whitney-Wilcoxon test, which examines two evenly-sized distributions’ equality, in this case the distributions being the pre- and post-event periods. Observations are based on daily data of US dollar nominated Euro at-the-money call options. Research results partially back up previous literature’s view of uncertainty increasing prior to the news announcement. After the exact contents of the news is public, uncertainty levels measured by implied volatility tend to lower.

Energy expenditure in vocalizations of pigs under stress

Modern swine production faces many challenges nowadays, among which are productivity growth, meat quality improvement, decrease of environmental damage and reduction of cost production. Pigs spend energy to vocalizing, especially when they undergo stress. The waste of energy can increase the cost of production and lead to greater environmental damage. The goal of this study was to estimate the energy spent by pigs under the stress of castration and its effect on the animals' weight gain. Two groups of ten animals each were castrated, being one group with local anesthetic and the other without anesthetic. The piglets' vocalizations were recorded during different stages of the neutering process and then estimated of the amount of energy emitted during each vocalization. Afterwards, this energy was associated with the animals' weight gain. There was no difference in the total energy spent in both groups, since the energy used during the application of anesthetic was similar to the energy spent during the castration of the animals without anesthetic. There was also no correlation between energy spent and the animals' weight gain. It was possible to estimate the amount of energy emitted through vocalization. This energy spent by piglets in pain was greater than in other handling situations (contention, weighting and realease).

Identification of acoustic parameters for broiler welfare estimate

Estimates of broiler welfare have subjective character. Nowadays, researchers seek non-invasive features or indicators that may describe this condition in animal production. The aim of this study was to identify acoustic parameters to estimate broiler welfare using the following five vocalization acoustic parameters: energy, spectral centroid, bandwidth, first formant, and second formant. The database that generated the model was obtained from a field experiment with 432 broilers, which half were Cobb® and half, Ross® breed, from day 21 to 42, containing bird vocalizations under either welfare or stress conditions. The results of the experiment generated responses to the tested conditions of gender, genetic strain, and welfare. The proposed model was based on the specific response of mean weights for each situation of stress and well-being. From the results, a model was developed to estimate the welfare condition of broilers from the registered information linked to their vocalization.

Ultrasound call detection in capybara

The vocal repertoire of some animal species has been considered a non-invasive tool to predict distress reactivity. In rats ultrasound emissions were reported as distress indicator. Capybaras[ vocal repertoire was reported recently and seems to have ultrasound calls, but this has not yet been confirmed. Thus, in order to check if a poor state of welfare was linked to ultrasound calls in the capybara vocal repertoire, the aim of this study was to track the presence of ultrasound emissions in 11 animals under three conditions: 1) unrestrained; 2) intermediately restrained, and 3) highly restrained. The ultrasound track identified frequencies in the range of 31.8±3.5 kHz in adults and 33.2±8.5 kHz in juveniles. These ultrasound frequencies occurred only when animals were highly restrained, physically restrained or injured during handling. We concluded that these calls with ultrasound components are related to pain and restraint because they did not occur when animals were free of restraint. Thus we suggest that this vocalization may be used as an additional tool to assess capybaras[ welfare.

Idiosyncratic volatility around information release date

Several papers document idiosyncratic volatility is time-varying and many attempts have been made to reveal whether idiosyncratic risk is priced. This research studies behavior of idiosyncratic volatility around information release dates and also its relation with return after public announcement. The results indicate that when a company discloses specific information to the market, firm’s specific volatility level shifts and short-horizon event-induced volatility vary significantly however, the category to which the announcement belongs is not important in magnitude of change. This event-induced volatility is not small in size and should not be downplayed in event studies. Moreover, this study shows stocks with higher contemporaneous realized idiosyncratic volatility earn lower return after public announcement consistent with “divergence of opinion hypothesis”. While no significant relation is found between EGARCH estimated idiosyncratic volatility and return and also between one-month lagged idiosyncratic volatility and return presumably due to significant jump around public announcement both may provide some signals regarding future idiosyncratic volatility through their correlations with contemporaneous realized idiosyncratic volatility. Finally, the study show that positive relation between return and idiosyncratic volatility based on under-diversification is inadequate to explain all different scenarios and this negative relation after public announcement may provide a useful trading rule.

Finnish stock market reaction to quarterly earnings announcements

This thesis examines the stock market reactions to quarterly earnings announcements. The study covers the OMX Helsinki 25 index companies for the years 2007–2010. The stock market response to quarterly earnings announcements is tested by employing the event study –methodology and daily stock returns of Finnish listed companies. The thesis provides evidence that stock prices react to earnings announcements that exceed or fall below analyst forecasts. The most liquid stocks earn higher returns around positive earnings news than less traded stocks, which supports the evidence from previous studies. This thesis finds evidence for the authorization to sell stocks short reducing the post–earnings announcement drift induced by negative earnings news. In addition, the market’s reaction to earnings announcements seems to quicken during economic turmoil.

Practical Data Curation and Management for Institutional Repositories

Workshop at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014

The Effect of Plant Closures on Market Value: Empirical Evidence from Pulp and Paper Industry 2004-2012

The aim of this study was to research how plant closure announcements affect the market value of the largest pulp and paper industry companies in the world. Also the effect of announcements on competitors was researched and whether the location of plants, timing, reasons for the closures, and characteristics of the closing firms and competitors have an impact on the results. The overall sample included 57 events in the years 2004-2012 and event study was used as a research method. Main theories were signaling theory and spillover effect. According to empirical results, investors consider plant closure announcements as a positive signal for market value. The spillover effect on competitors was, on average, positive and characteristics of the firms and closures had an effect on the results. Furthermore, the market generally predicted the closures and overreacted to them on the announcement day and after it. It is possible for corporate management and investors to learn from the results and use them as support for their decision making.

Employee layoff announcements and shareholder wealth: empirical evidence from Finland 2008-2013

This thesis investigates the short-term stock price reaction to layoff announcements in Finland. It also studies whether the characteristics of the firm or the layoff announcement have an impact on the stock market reaction. Standard event study methodology was utilized to examine the stock price reactions to layoffs and to test the created hypotheses. The event pool consisted of 102 publicly disclosed layoff announcements that were announced during the time period from June 2008 to December 2013. The empirical results show that the stock market reaction is strongly positive in the pre-event period of -10 to -1 with CAAR of 2,69%. The reaction is however slightly negative on the event date with AAR of -0,57%. Based on the results the conclusion is that either the managers are timing the markets or the layoffs are seen as efficiency improving acts and the market becomes aware of such actions pre-event. Additionally different characteristic hypotheses are tested to find out whether they would explain the reaction. The characteristics are: the reason stated by the management, business cycle, industry group, prior performance, leverage-ratio, the size of the company, the size of the layoff and the duration of the layoff.

Foreign Direct Investment and Shareholder Wealth Gains: Evidence from Finnish FDI in China

In Finnish discourse, “The China Effect” refers to the surge of offshoring activities by Western companies to China during the past couple of decades. Inspired by event studies concerning announcements of foreign direct investment, this thesis investigates the market’s reaction to Finnish companies’ announcement of FDI targeting the People’s Republic of China. Standard event study methodology is applied to 135 announcements related to subsidiaries, joint ventures and acquisitions between 1997 and 2014. The data is checked for contamination by unrelated coinciding events and outliers. A positive average abnormal return is found to take place on the date of the announcement. Additionally, the abnormal returns are found to exist only for projects announced before 2008, and only when the investment project is new, as opposed to investments made to extend previously established projects. Ownership arrangement and the novelty of facilities do not influence the market’s reaction towards the investment announcement.

Cholinergic-opioidergic interaction in the central amygdala induces antinociception in the guinea pig

Several studies have demonstrated the involvement of the central nucleus of the amygdala (CEA) in the modulation of defensive behavior and in antinociceptive regulation. In a previous study, we demonstrated the existence of a cholinergic-opioidergic interaction in the CEA, modulating the defensive response of tonic immobility in guinea pigs. In the present study, we investigated a similar interaction in the CEA, but now involved in the regulation of the nociceptive response. Microinjection of carbachol (2.7 nmol) and morphine (2.2 nmol) into the CEA promoted antinociception up to 45 min after microinjection in guinea pigs as determined by a decrease in the vocalization index in the vocalization test. This test consists of the application of a peripheral noxious stimulus (electric shock into the subcutaneous region of the thigh) that provokes the emission of a vocalization response by the animal. Furthermore, the present results demonstrated that the antinociceptive effect of carbachol (2.7 nmol; N = 10) was blocked by previous administration of atropine (0.7 nmol; N = 7) or naloxone (1.3 nmol; N = 7) into the same site. In addition, the decrease in the vocalization index induced by the microinjection of morphine (2.2 nmol; N = 9) into the CEA was prevented by pretreatment with naloxone (1.3 nmol; N = 11). All sites of injection were confirmed by histology. These results indicate the involvement of the cholinergic and opioidergic systems of the CEA in the modulation of antinociception in guinea pigs. In addition, the present study suggests that cholinergic transmission may activate the release of endorphins/enkephalins from interneurons of the CEA, resulting in antinociception.

On the relationships between ultrasonic calling and anxiety-related behavior in rats

In the present review, the phenomenon of ultrasonic vocalization in rats will be outlined, including the three classes of vocalizations, namely 40-kHz calls of pups, and 22- and 50-kHz calls of juvenile and adult rats, their general relevance to behavioral neuroscience, and their special relevance to research on anxiety, fear, and defense mechanisms. Here, the emphasis will be placed on 40- and 22-kHz calls, since they are typical for various situations with aversive properties. Among other topics, we will discuss whether such behavioral signals can index a certain affective state, and how these signals can be used in social neuroscience, especially with respect to communication. Furthermore, we will address the phenomenon of inter-individual variability in ultrasonic calling and what we currently know about the mechanisms, which may determine such variability. Finally, we will address the current knowledge on the neural and pharmacological mechanisms underlying 22-kHz ultrasonic vocalization, which show a substantial overlap with mechanisms known from other research on fear and anxiety, such as those involving the periaqueductal gray or the amygdala.

A persistência da indexação no Brasil pós-Real

The paper analyzes the shortcomings of the Real Plan combining political science and economics, considering evidences on difficulties in implementing a complete plan of deindexation, namely: the distributional conflict, the corporatist relations between the State and society and the bureaucratic isolation of a highly specialized technocracy. The announcement of the plan triggered defensive reactions, fueling distributive tensions during the URV period, forcing the economic team to take measures that contradicted the overall guidelines followed. The persistence of indexation mechanisms indicate the resulting obstacles in seeking a reform of the State through a stabilization plan, even though the latter has the former as a precondition.