955 resultados para IPO, market timing, Japan, Keiretsu


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XVIII IUFRO World Congress, Ljubljana 1986.

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We address risk minimizing option pricing in a regime switching market where the floating interest rate depends on a finite state Markov process. The growth rate and the volatility of the stock also depend on the Markov process. Using the minimal martingale measure, we show that the locally risk minimizing prices for certain exotic options satisfy a system of Black-Scholes partial differential equations with appropriate boundary conditions. We find the corresponding hedging strategies and the residual risk. We develop suitable numerical methods to compute option prices.

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The similar to 2500 km long Himalayan arc has experienced three large to great earthquakes of M-w 7.8 to 8.4 during the past century, but none produced surface rupture. Paleoseismic studies have been conducted during the last decade to begin understanding the timing, size, rupture extent, return period, and mechanics of the faulting associated with the occurrence of large surface rupturing earthquakes along the similar to 2500 km long Himalayan Frontal Thrust (HFT) system of India and Nepal. The previous studies have been limited to about nine sites along the western two-thirds of the HFT extending through northwest India and along the southern border of Nepal. We present here the results of paleoseismic investigations at three additional sites further to the northeast along the HFT within the Indian states of West Bengal and Assam. The three sites reside between the meizoseismal areas of the 1934 Bihar-Nepal and 1950 Assam earthquakes. The two westernmost of the sites, near the village of Chalsa and near the Nameri Tiger Preserve, show that offsets during the last surface rupture event were at minimum of about 14 m and 12 m, respectively. Limits on the ages of surface rupture at Chalsa (site A) and Nameri (site B), though broad, allow the possibility that the two sites record the same great historical rupture reported in Nepal around A.D. 1100. The correlation between the two sites is supported by the observation that the large displacements as recorded at Chalsa and Nameri would most likely be associated with rupture lengths of hundreds of kilometers or more and are on the same order as reported for a surface rupture earthquake reported in Nepal around A.D. 1100. Assuming the offsets observed at Chalsa and Nameri occurred synchronously with reported offsets in Nepal, the rupture length of the event would approach 700 to 800 km. The easternmost site is located within Harmutty Tea Estate (site C) at the edges of the 1950 Assam earthquake meizoseismal area. Here the most recent event offset is relatively much smaller (<2.5 m), and radiocarbon dating shows it to have occurred after A.D. 1100 (after about A.D. 1270). The location of the site near the edge of the meizoseismal region of the 1950 Assam earthquake and the relatively lesser offset allows speculation that the displacement records the 1950 M-w 8.4 Assam earthquake. Scatter in radiocarbon ages on detrital charcoal has not resulted in a firm bracket on the timing of events observed in the trenches. Nonetheless, the observations collected here, when taken together, suggest that the largest of thrust earthquakes along the Himalayan arc have rupture lengths and displacements of similar scale to the largest that have occurred historically along the world's subduction zones.

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In this paper, we investigate cooperative OFDM communications using amplify-and-forward (AF) protocol at the relays, in the presence of imperfect timing synchronization. In most studies on cooperative communications, perfect time synchronization among cooperating nodes is assumed. In practice, however, due to imperfect time synchronization, orthogonality among the subcarriers of the different nodes' signals at the destination receiver can be lost, causing inter-symbol interference (ISI). In this paper, we derive analytical expressions for the average SINR at the DFT output at the destination as a function of timing offset in cooperative OFDM with AF protocol, and illustrate the SINR degradation as a function of the timing offset. We also present an interference canceling (IC) receiver to mitigate the effects of ISI when there is timing offset. We show that the proposed IC receiver achieves improved BER performance even when timing offsets are large.

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In uplink orthogonal frequency division multiple access (OFDMA), carrier frequency offsets (CFO) and/or timing offsets (TO) of other users with respect to a desired user can cause significant multiuser interference (MUI). In this paper, we derive an analytical bit error rate (BER) expression that quantify the degradation in BER due to the combined effect of both CFOs and TOs in uplink OFDMA on Rician fading channels. Such an analytical BER derivation for uplink OFDMA with CFOs and TOs on Rician fading channels has not been reported so far. For the case of non-zero CFOs/TOs, we obtain an approximate BER expression involving a single integral. Analytical and simulation BER results are shown to match very well.

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Calculated phase relations in the system MnOSi02-C02-02 were used to propose a thermodynamic explanation for the thermal metamorphism of rhodochrosite beds lying between chert strata. The metamorphic MnOS i 0 2 minerals are arranged in order quartz(chert), rhodonite. tephroite and manganosite-hausmannite-pyrochroite rhodonite across the ore bed. The calculation covered temperatures up to 1000 K and pressures up to 5 kb. The zoning was interpreted as the result of a continuous rise in metamorphic temperature. The equilibrium partner of rhodochrosite changed from rhodonite through manganosite. Across the ore bed there are gradients in the chemical potential of MnO and SiO2 but fugacities of volatlle components such as C02. 02 and H20 were probably uniform at any given time and location during formation of the zones. Assuming that the total pressure and the fugacity of C02 were at 1.4 kb and 1.0 1 b. respectively. rhodonite. tephroite and manganosite would have formed at 472. 478 and 629 K.

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In orthogonal frequency-division multiple access (OFDMA) on the uplink, the carrier frequency offsets (CFOs) and/or timing offsets (TOs) of other users with respect to a desired user can cause multiuser interference (MUI). Analytically evaluating the effect of these CFO/TO-induced MUI on the bit error rate (BER) performance is of interest. In this paper, we analyze the BER performance of uplink OFDMA in the presence of CFOs and TOs on Rician fading channels. A multicluster multipath channel model that is typical in indoor/ultrawideband and underwater acoustic channels is considered. Analytical BER expressions that quantify the degradation in BER due to the combined effect of both CFOs and TOs in uplink OFDMA with M-state quadrature amplitude modulation (QAM) are derived. Analytical and simulation BER results are shown to match very well. The derived BER expressions are shown to accurately quantify the performance degradation due to nonzero CFOs and TOs, which can serve as a useful tool in OFDMA system design.

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We present a timing and broad-band pulse-phase-resolved spectral analysis of the transient Be X-ray binary pulsar 1A 1118-61 observed during its outburst in 2009 January using Suzaku observations. The Suzaku observations were made twice, once at the peak of the outburst, and the other 13 d later at its declining phase. Pulse profiles from both observations exhibit strong energy dependence with several peaks at low energies and a single peak above similar to 10 keV. A weak, narrow peak is detected at the main dip of the pulse profiles from both observations in the energy bands below 3 keV, indicating the presence of a phase-dependent soft excess in the source continuum. The broad-band energy spectrum of the pulsar could be fitted well with a partial covering cut-off power-law model and a narrow iron fluorescence line. We also detect a broad cyclotron feature at similar to 50 keV from both observations which is a feature common for accretion-powered pulsars with high magnetic field strength. The pulse-phase-resolved spectral analysis shows an increase in the absorption column density of the partial covering component, as well as variation in the covering fraction at the dips of the pulse profiles, which naturally explains energy dependence of the same. The cyclotron line parameters also show significant variation with pulse phase with an similar to 10 keV variation in the cyclotron line energy and a variation in depth by a factor of 3. This can be explained either as the effect of different viewing angles of the dipole field at different pulse phases, or due to a more complex underlying magnetic field geometry.