Margin requirements and volatility : evidence from Canadian stocks

Margin policy is used by regulators for the purpose of inhibiting exceSSIve volatility and stabilizing the stock market in the long run. The effect of this policy on the stock market is widely tested empirically. However, most prior studies are limited in the sense that they investigate the margin requirement for the overall stock market rather than for individual stocks, and the time periods examined are confined to the pre-1974 period as no change in the margin requirement occurred post-1974 in the U.S. This thesis intends to address the above limitations by providing a direct examination of the effect of margin requirement on return, volume, and volatility of individual companies and by using more recent data in the Canadian stock market. Using the methodologies of variance ratio test and event study with conditional volatility (EGARCH) model, we find no convincing evidence that change in margin requirement affects subsequent stock return volatility. We also find similar results for returns and trading volume. These empirical findings lead us to conclude that the use of margin policy by regulators fails to achieve the goal of inhibiting speculating activities and stabilizing volatility.

Canadian Advertising Requirements and Restrictions, by Province for the Distilled Spirits Industry as of September 23, 1976

A document outlining the rules and regulations for advertising liquor in Canada. The document is sorted by province and outlines the details for advertising, when allowed, in each province. The description of the contents reads "The purpose of this document is to provide a summary of Canadian advertising requirements and restrictions, by province for the distilled spirits industry as of September 23, 1976".

McNeill's code : Arranged to meet the requirements of mi ning, metallurgical and civil engineers ; directors of mining, smetling and other companies...

UANL

Requirements for the selective degradation of CD4 receptor molecules by the human immunodeficiency virus type 1 Vpu protein in the endoplasmic reticulum.

BACKGROUND: HIV-1 Vpu targets newly synthesized CD4 receptor for rapid degradation by a process reminiscent of endoplasmic reticulum (ER)-associated protein degradation (ERAD). Vpu is thought to act as an adaptor protein, connecting CD4 to the ubiquitin (Ub)-proteasome degradative system through an interaction with beta-TrCP, a component of the SCFbeta-TrCP E3 Ub ligase complex. RESULTS: Here, we provide direct evidence indicating that Vpu promotes trans-ubiquitination of CD4 through recruitment of SCFbeta-TrCP in human cells. To examine whether Ub conjugation occurs on the cytosolic tail of CD4, we substituted all four Ub acceptor lysine residues for arginines. Replacement of cytosolic lysine residues reduced but did not prevent Vpu-mediated CD4 degradation and ubiquitination, suggesting that Vpu-mediated CD4 degradation is not entirely dependent on the ubiquitination of cytosolic lysines and as such might also involve ubiquitination of other sites. Cell fractionation studies revealed that Vpu enhanced the levels of ubiquitinated forms of CD4 detected in association with not only the ER membrane but also the cytosol. Interestingly, significant amounts of membrane-associated ubiquitinated CD4 appeared to be fully dislocated since they could be recovered following sodium carbonate salt treatment. Finally, expression of a transdominant negative mutant of the AAA ATPase Cdc48/p97 involved in the extraction of ERAD substrates from the ER membrane inhibited Vpu-mediated CD4 degradation. CONCLUSION: Taken together, these results are consistent with a model whereby HIV-1 Vpu targets CD4 for degradation by an ERAD-like process involving most likely poly-ubiquitination of the CD4 cytosolic tail by SCFbeta-TrCP prior to dislocation of receptor molecules across the ER membrane by a process that depends on the AAA ATPase Cdc48/p97.

Development of a Blood Antigen Molecular Profiling Panel using Genotyping Technologies for Patients Requiring Frequent Transfusions

Contexte. Les phénotypes ABO et Rh(D) des donneurs de sang ainsi que des patients transfusés sont analysés de façon routinière pour assurer une complète compatibilité. Ces analyses sont accomplies par agglutination suite à une réaction anticorps-antigènes. Cependant, pour des questions de coûts et de temps d’analyses faramineux, les dons de sang ne sont pas testés sur une base routinière pour les antigènes mineurs du sang. Cette lacune peut résulter à une allo-immunisation des patients receveurs contre un ou plusieurs antigènes mineurs et ainsi amener des sévères complications pour de futures transfusions. Plan d’étude et Méthodes. Pour ainsi aborder le problème, nous avons produit un panel génétique basé sur la technologie « GenomeLab _SNPstream» de Beckman Coulter, dans l’optique d’analyser simultanément 22 antigènes mineurs du sang. La source d’ADN provient des globules blancs des patients préalablement isolés sur papiers FTA. Résultats. Les résultats démontrent que le taux de discordance des génotypes, mesuré par la corrélation des résultats de génotypage venant des deux directions de l’ADN, ainsi que le taux d’échec de génotypage sont très bas (0,1%). Également, la corrélation entre les résultats de phénotypes prédit par génotypage et les phénotypes réels obtenus par sérologie des globules rouges et plaquettes sanguines, varient entre 97% et 100%. Les erreurs expérimentales ou encore de traitement des bases de données ainsi que de rares polymorphismes influençant la conformation des antigènes, pourraient expliquer les différences de résultats. Cependant, compte tenu du fait que les résultats de phénotypages obtenus par génotypes seront toujours co-vérifiés avant toute transfusion sanguine par les technologies standards approuvés par les instances gouvernementales, les taux de corrélation obtenus sont de loin supérieurs aux critères de succès attendus pour le projet. Conclusion. Le profilage génétique des antigènes mineurs du sang permettra de créer une banque informatique centralisée des phénotypes des donneurs, permettant ainsi aux banques de sang de rapidement retrouver les profiles compatibles entre les donneurs et les receveurs.

Régulations homéostatiques cardiovasculaires suite à une transfusion par échange avec du sang hyperagrégeant chez le rat

Dans le but de vérifier l’impact d’un changement soudain dans l’agrégation érythrocytaire sur certains paramètres cardiovasculaires, une transfusion par échange sanguin du tiers du volume a été effectuée avec du sang hyperagrégeant chez le rat de souche Brown Norway. La pression caudale, le volume cardiaque systolique, la fraction d’éjection, le débit cardiaque, le rythme cardiaque et la résistance périphérique à l’écoulement sanguin ont été observés non-intrusivement sur 19 jours suite à la transfusion. Les rats ont été sacrifiés plus d’un mois suivant la transfusion et une étude ex vivo de la réponse à deux agents dilatateurs (l’acétylcholine et le nitroprussiate de sodium) a été menée sur les artérioles mésentériques. Des variations des paramètres cardiovasculaires, soit le débit, le volume systolique et la résistance périphérique, ont été remarquées dans les trois premiers jours posttransfusion. Une résistance du muscle vasculaire lisse au monoxyde d’azote a été notée chez les rats transfusés au sang hyperagrégeant alors qu’aucune dysfonction endothéliale n’était apparente en réponse à l’acétylcholine.

Metabolic requirements of boxing exercises

Face aux données conflictuelles de la littérature sur le VO2 requis d’exercices de boxe (sparring, palettes de frappe et sac de frappe), surtout pour le “vrai” sparring avec coups de poings au visage, une nouvelle méthode basée sur une mesure de VO2 “post-exercice” fut développée, validée (Annexe 1) et utilisée pour ré-évaluer le coût énergétique de ces exercices de boxe. Neufs boxeurs mâles expérimentés, de 22.0±3.5 ans et 71.4±10.9 kg avec un VO2pic de 62.2±4.1 ml·kg-1·min-1 (moyenne ± écart type) furent mesurés lors 1) d’un test progressif maximal sur tapis roulant en laboratoire 2) d’un entrainement standardisé de boxe en gymnase et 3) d’exercices de boxe standardisés en laboratoire. Des VO2 requis de 43.4±5.9, 41.1±5.1, 24.7±6.1, 30.4±5.8 et 38.3±6.5 ml·kg-1·min-1, respectivement obtenues pour le sparring, les palettes de frappe et le sac de frappe à 60, 120 et 180 coup·min-1, situe l’intensité de ces exercices autour de ~70 %VO2pic.

Nutritional studies in juvenile penaeus indicus with fererence to protein and vitamin requirements

Man in his quest to explore food has turned towards the oceans and during the last five decades there has been phenomenal increase in the exploitation of the marine fisheries resources. The present study is carried out to determine the requirement of protein and water-soluble vitamins in the diet of juveniles of the Indian white prawn p.indicus using purified diets and to evaluate the nutritive value of a few plant and animal protein sources for the same species. A total of ten statistically designed experiments are conducted in the laboratory undermost identical conditions and following similar methodologies. The study also tries to suggest the essential and optimal requirements for protein as well as water-soluble vitamins in the diet of juvenile p.indicus

Nutritional Requirements Of The Fry Of Gold-Spot Mullet Liza Parsa (Hamilton)

Most tropical aquatic environments are naturally fertile and their natural fertility is renewed very rapidly. Natural food for many cultivable organisms can be grown to the maximum by proper management. However, enrichment of the environment can be done through rational fertilization. Still further increase in stocking rates, can yield increased crop if adequate feeding is done. Thus fish and shellfish nutrition is an important aspect of the multidisciplinary subject of aquaculture. The oldest and most classical studies in physiology have investigated the nutritional needs of the species of interest to aquaculture. The alimentary requirements for proteins, lipids, mineral salts and vitamins have been established for some temperate species. But, the nutritional requirements of only few tropical species have been studied. Before formulating a diet, a thorough knowledge of the nutrient requirement of the species is essential. It is against this background that the present area of investigation has been identified. "Nutritional requirements of the fry of gold-spot mullet Liza parsia" is a comprehensive attempt to quantify the nutritional factors that are essential for producing healthy fingerlings for stocking the farms. Aspects such as the protein and lipid requirements of the fry, the vitamin essentiality, nutritive evaluation of protein and lipid sources suitable for compounding diets were covered in this research project. The ultimate aim has been to evolve practical diets which could be applied in the nursery phase for juvenile production.

Studies on the evaluation of different sources of proteins, carbohydrates and mineral requirements for juvenile penaeid prawn Penaeus Indicus H. Milne Edwards

In India, directed research on penaeid prawn nutrition was taken up only recently when the aquaculture of prawns gained momentum. One of the important penaeid prawns sought for culture and has great potential is Penagus indiggs, H.Milne Edwards. The Central Marine Fisheries Research Institute working on different aspects of culture of this species over the past one and half decades, has developed a hatchery technology for mass production of its seed and has suggested several improvements on its farming in the grow-out systems. One of the areas of active research in this direction has been on the nutrition of the species with a view to develop suitable feed not only for hatchery production of seed, but also in the field culture. As part of this investigation, the present study, on the evaluation of different protein and carbohydrate sources and mineral requirements for the juvenile E, indicus was taken up and the results obtained are embodied in the thesis

Optimum growth requirements of nitrifying consortia developed from treated sewage

The optimum growth requirements of two nitrifying consortia developed from treated sewage by enrichment technique were determined by a series of experiments. There was total inhibition of nitrification at above 2.75 g r' NH/- Nand 2.5g r' N02' - N and the ammonia oxidizing consortium preferred a pH at 8.5 and the nitrite oxidizing consortium a pH of 7.5 as the optima for nitrification. Optimum temperatures were between 20° and 30°C for both the groups. As the rate of airnow was increased from I to 7 Ilmin, the build-up of N02- -N increased 10-fold and the consumption of N02- -N increased by a factor of 28.8 implying that the ammonia oxidizing consortium in a bioreactor required three times more aeration than that for nitrite oxidizers for ex pressing their full nitrifying potential. These data directly contribute for developing a fermentati on process for the mass production of nitrifiers as well as for designing bio reactors for nitrifying sewage.

Nitrogen requirements of cassava in selected soils of Thailand

Cassava (Manihot esculenta) is one of the most important export crops in Thailand, yet the nitrogen requirement is unknown and not considered by growers and producers. Cassava requirements for N were determined in field experiments during a period of four years and four sites on the Satuk (Suk), Don Chedi (Dc), Pak Chong (Pc),and Ban Beung (BBg) soil series in Lopburi, Supanburi, Nakhon Ratchasima, and Chonburi sites, respectively. The fertilizer treatment structure comprised 0, 62.5, 125, 187.5, 250 and 312.5 kg N ha^(-1) as urea. At each site cassava was harvested at nine months and yield parameters and the minimum datasets were taken. The fertilizer rate which resulted in maximum yield ranged from 187.5 kg N ha^(-1) in Supanburi and Chonburi (fresh weight yield of 47,500 and 30,000 kg ha^(-1) respectively) to 250 kg N ha^(-1) in Lopburi and Nakhon Ratchasima (fresh weight yield of 64,100 and 46,700 kg ha^(-1) respectively). Yield appeared to decrease at the higher, 312 kg ha^(-1), at Supanburi and Lopburi, and 250 kg ha^(-1) (Chonburi) fertilizer N rates. Net revenue was 70.4 and 72.9 % higher than where no N was appliedLopburi and Nakhon Ratchasima sites. Net revenue at the Supanburi and Chonburi sites were 53.8 and 211.0 % higher than that where no N was applied. This study suggests that at all sites improved cassava production and net revenue could be obtained with the judicious application of higher quantities of N. The results provide needed guidance to nitrogen fertilization of the important industrial crop cassava in Thailand.

Nonlinear Device Noise Models:Thermodynamic Requirements

This paper proposes three tests to determine whether a given nonlinear device noise model is in agreement with accepted thermodynamic principles. These tests are applied to several models. One conclusion is that every Gaussian noise model for any nonlinear device predicts thermodynamically impossible circuit behavior: these models should be abandoned. But the nonlinear shot-noise model predicts thermodynamically acceptable behavior under a constraint derived here. Further, this constraint specifies the current noise amplitude at each operating point from knowledge of the device v - i curve alone. For the Gaussian and shot-noise models, this paper shows how the thermodynamic requirements can be reduced to concise mathematical tests involving no approximatio

On the use of QoS requirements as base of multicast charging

We propose a charging scheme for cost distribution along a multicast tree when cost is the responsibility of the receivers. This scheme focuses on QoS considerations and it does not depend on any specific type of service. The scheme has been designed to be used as a bridge between unicast and multicast services, solving the problem of charging multicast services by means of unicast charging and existing QoS routing mechanisms. We also include a numerical comparison and discussions of the case of non-numerical or relative QoS and on the application to some service examples in order to give a better understanding of the proposal