Mitigating high ‘equity capital’ risk exposure to ‘small cap’ sector in India: analysing ‘key factors of success’ for ‘Institutional Investors’ whilst Investing in small cap sector in India

This paper deals with the subject of mitigating high ‘Equity Capital’ Risk Exposure to ‘Small Cap’ Sector in India. Institutional investors in India are prone to be risk averse when it comes to investing in the small cap sector in India as they find the companies risky and volatile. This paper will help analyse ‘Key Factors of success’ for ‘Institutional Investors’ whilst investing in Small Cap sector in India as some of these Indian small cap stocks offer handsome returns despite economic downturn. This paper has been harnessed carefully under the influence of expert investors, which includes Benjamin Graham (Security Analysis); Warren Buffet; Philip Fisher (Common Stocks and Uncommon Profits); and Aswath Damodaran.

Método da continuação aplicado na análise de contingência de linhas de transmissão

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Utilização de índices de estabilidade transitória para a avaliação de segurança dinâmica

Indices that report how much a contingency is stable or unstable in an electrical power system have been the object of several studies in the last decades. In some approaches, indices are obtained from time-domain simulation; others explore the calculation of the stability margin from the so-called direct methods, or even by neural networks.The goal is always to obtain a fast and reliable way of analysing large disturbance that might occur on the power systems. A fast classification in stable and unstable, as a function of transient stability is crucial for a dynamic security analysis. All good propositions as how to analyse contingencies must present some important features: classification of contingencies; precision and reliability; and efficiency computation. Indices obtained from time-domain simulations have been used to classify the contingencies as stable or unstable. These indices are based on the concepts of coherence, transient energy conversion between kinetic energy and potential energy, and three dot products of state variable. The classification of the contingencies using the indices individually is not reliable, since the performance of these indices varies with each simulated condition. However, collapsing these indices into a single one can improve the analysis significantly. In this paper, it is presented the results of an approach to filter the contingencies, by a simple classification of them into stable, unstable or marginal. This classification is performed from the composite indices obtained from step by step simulation with a time period of the clearing time plus 0.5 second. The contingencies originally classified as stable or unstable do not require this extra simulation. The methodology requires an initial effort to obtain the values of the intervals for classification, and the weights. This is performed once for each power system and can be used in different operating conditions and for different contingencies. No misplaced classification o- - ccurred in any of the tests, i.e., we detected no stable case classified as unstable or otherwise. The methodology is thus well fitted for it allows for a rapid conclusion about the stability of th system, for the majority of the contingencies (Stable or Unstable Cases). The tests, results and discussions are presented using two power systems: (1) the IEEE17 system, composed of 17 generators, 162 buses and 284 transmission lines; and (2) a South Brazilian system configuration, with 10 generators, 45 buses and 71 lines.

Assessment of branch outage contingencies using the continuation method

This paper provides a contribution to the contingency analysis of electric power systems under steady state conditions. An alternative methodology is presented for static contingency analyses that only use continuation methods and thus provides an accurate determination of the loading margin. Rather than starting from the base case operating point, the proposed continuation power flow obtains the post-contingency loading margins starting from the maximum loading and using a bus voltage magnitude as a parameter. The branch selected for the contingency evaluation is parameterised using a scaling factor, which allows its gradual removal and assures the continuation power flow convergence for the cases where the method would diverge for the complete transmission line or transformer removal. The applicability and effectiveness of the proposed methodology have been investigated on IEEE test systems (14, 57 and 118 buses) and compared with the continuation power flow, which obtains the post-contingency loading margin starting from the base case solution. In general, for most of the analysed contingencies, few iterations are necessary to determine the post-contingency maximum loading point. Thus, a significant reduction in the global number of iterations is achieved. Therefore, the proposed methodology can be used as an alternative technique to verify and even to obtain the list of critical contingencies supplied by the electric power systems security analysis function. © 2013 Elsevier Ltd. All rights reserved.

Método da continuação aplicado na análise de contingência de linhas de transmissão

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Análise dinâmica de contingências de sistemas de energia elétrica por redes neurais baseadas na teoria da ressonância adaptativa

Pós-graduação em Engenharia Elétrica - FEIS

Algebraic-graph method for identification of islanding in power system grids

In this paper, a new algebraic-graph method for identification of islanding in power system grids is proposed. The proposed method identifies all the possible cases of islanding, due to the loss of a equipment, by means of a factorization of the bus-branch incidence matrix. The main features of this new method include: (i) simple implementation, (ii) high speed, (iii) real-time adaptability, (iv) identification of all islanding cases and (v) identification of the buses that compose each island in case of island formation. The method was successfully tested on large-scale systems such as the reduced south Brazilian system (45 buses/72 branches) and the south-southeast Brazilian system (810 buses/1340 branches). (C) 2011 Elsevier Ltd. All rights reserved.

Target Price Accuracy

This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown) 12-month stock price. Furthermore, we determine factors that explain this accuracy. Target price accuracy is negatively related to analyst-specific optimism and stock-specific risk (measured by volatility and price-to-book ratio). However, target price accuracy is positively related to the level of detail of each report, company size and the reputation of the investment bank. The potential conflicts of interests between an analyst and a covered company do not bias forecast accuracy.

Punishment goals of crime victims

Research on subjective punishment goals has focused on the perspective of third-party observers of criminal offenses and neglected the perspective of victims. This study investigates punishment goals among 174 adult crime victims (rape and nonsexual assault) for each participant’s real criminal case. Scales measuring support for punishment goals are constructed by factor analysis of an 18-item list. Results show that 5 highly supported goals can be distinguished: retaliation, recognition of victim status, confirmation of societal values, victim security, and societal security. Analysis of relations between punishment goal scales and personal variables, situational variables, and demanded punishment severity corroborates the view that the punishment goals revealed can be classified according to the two independent dichotomies of moral versus instrumental goals, and micro versus macro goals.

A rogue is a rogue is a rogue: US foreign policy and the Korean nuclear crisis

Two nuclear crises recently haunted the Korean peninsula, one in 1993/4, the other in 2002/3. In each case the events-were strikingly similar: North Korea made public its ambition to acquire nuclear weapons and withdrew from the Nonproliferation Treaty. Then the situation rapidly deteriorated until the peninsular was literally on the verge of war. The dangers of North Korea's actions, often interpreted as nuclear brinkmanship, are evident. and much discussed, but not so the underlying patterns that have shaped the conflict in the first place. This article sheds light on some of them. It examines the role of the United States in the crisis, arguing that Washington's inability to see North Korea as anything but a threatening 'rogue state' seriously hinders both an adequate understanding and possible resolution of the conflict. Particularly significant is the current policy of pre-emptive strikes against rogue states, for it reinforces half a century of American nuclear threats towards North Korea. The problematic role of these threats has been largely obscured, not least because the highly technical discourse of security analysis has managed to present the strategic situation on the peninsula in a manner that attributes responsibility for the crisis solely to North Korea's actions, even if the situation is in reality far more complex and interactive.

Art after 9/11

This article examines ways in which art can help broaden understandings of contemporary security challenges, especially in view of the limits of conventional forms of strategic and policy analysis. The article focuses especially on responses to 9/11 in literature, the visual arts, architecture, and music, and considers some epistemological questions about the status of art as a way of knowing political events, like those of 9/11, that escape state-based forms of security analysis.

Asymmetric Cipher Protocol Using Decomposition Problem

The asymmetric cipher protocol based on decomposition problem in matrix semiring M over semiring of natural numbers N is presented. The security parameters are defined and preliminary security analysis is presented.

Defense Expenditure: Central America and The Dominican Republic

It is often speculated that the high allocation of funds to retirement pension systems has influenced the capacity of Central American and Dominican Republic military to modernize. Yet, the comparative study of the allocation of pension and social funds in these particular countries suggest that there is not direct linkage between the poor funding of military modernization plans and the allocation of funds to military pension systems. The research conducted on this subject shows the following results: 1. The Dominican Republic is the only country that has embarked on a considerable procurement of modern equipment and still reports the largest proportion of social expenditures. 2. El Salvador’s defense budget allocates minimal funding to Social Welfare Institute, which as alternative sources of funding. In 2009, El Salvador increased 15 percent funding to the military to respond to increased role in domestic security issues. 3. The Guatemalan defense expenditure on social programs is fairly low, but it has grown during the past six years due to processes of demobilization. However, the Military Social Welfare Institute is administered by a decentralized institution funded directly by the Ministry of Finance. If it were to be considered as a part of the defense budget, its social expenses would account for almost 16% of it. 4. The Honduran Defense Budget has faced a considerable enlargement during the past four years, with social spending expenses taken precedence over modernization efforts. 2 5. The Nicaraguan system of military pensions is administered by a decentralized entity (IPSM) through a system of salary deductions. Information on the funding of this entity is inconclusive. The Nicaraguan Defense spending on social services has reported a drastic 90% drop since the year 2007.

Peru’s Shining Path: Recent Dynamics and Future Prospects

Although soundly defeated in the early to mid-1990s, Shining Path (Sendero Luminoso) did not disappear. Over the past five years, it has reemerged in a substantially different form, with both a military and a political component. The organization, once again coordinated by jailed leader Abimael Guzmán Reynoso, has eschewed shorter-term military objectives in favor of a longer-term strategy of slowly rebuilding popular support and establishing a party within the Peruvian political system. In so doing, it has also moved from extreme Maoist ideological rigidity to a more pragmatic, though perhaps only tactical, approach. Financial support is derived once again from cocaine production and trafficking in the Upper Huallaga Valley (UHV). Although there may be some individual exceptions, Shining Path is not a narcoterrorist organization. At the same time, Sendero is still very small, in no way a threat to the Peruvian state, and divided. The Lima-based political organization and the military wing in the UHV continue to follow Guzmán‟s leadership, while the Apurímac-Ene Valleys (VRAE) group remains committed to the armed struggle. The Government of Peru (GOP) response to date, both military and civilian, has been inadequate. VRAE military operations are hampered by poor leadership, ill-trained troops, and an outdated strategy. VRAE development resources have been cut, and the long-promised paved road remains in the planning stage. Without significant GOP adjustments, Shining Path is likely to continue to grow.