961 resultados para managed funds


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All-optical passive regeneration in 40 Gbit/s-based wavelength-division-multiplexed (WDM) dispersion-managed return-to-zero (RZ) transmission system was discussed. In-line nonlinear optical loop mirrors (NOLM) were used. A feasibility of 300 GHz-spaced two channel unlimited transmission and 150 GHz-spaced two channel 25000 km transmission over the standard fiber were found.

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Summary form only given. Both dispersion management and the use of a nonlinear optical loop mirror (NOLM) as a saturable absorber can improve the performance of a soliton-based communication system. Dispersion management gives the benefits of low average dispersion while allowing pulses with higher powers to propagate, which helps to suppress Gordon-Haus timing jitter without sacrificing the signal-to-noise ratio. The NOLM suppresses the buildup of amplifier spontaneous emission noise and background dispersive radiation which, if allowed to interact with the soliton, can lead to its breakup. We examine optical pulse propagation in dispersion-managed (DM) transmission system with periodically inserted in-line NOLMs. To describe basic features of the signal transmission in such lines, we develop a simple theory based on a variational approach involving Gaussian trial functions. It, has already been proved that the variational method is an extremely effective tool for description of DM solitons. In the work we manage to include in the variational description the point action of the NOLM on pulse parameters, assuming that the Gaussian pulse shape is inherently preserved by propagation through the NOLM. The obtained results are verified by direct numerical simulations

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In this paper we examine the intraday trading patterns of Exchange Traded Funds (ETFs) listed on the London Stock Exchange. ETFs have been shown to be characterised by much lower bid–ask spread costs and by lower levels of information asymmetry than individual securities. One possible explanation for intraday trading patterns is that concentration of trading arises at the start of the trading day because informed traders have private information that quickly diminishes in value as trading progresses. Since ETFs have lower trading costs and lower levels of information asymmetry we would expect these securities to display less pronounced intraday patterns than individual securities. We fail to find that ETFs are characterised by concentrated trading bouts during the day and therefore find support for the argument that information asymmetry is the cause of intraday volume patterns in stock markets. We find that ETF bid–ask spreads and volatility are elevated at the open but not at the close. This lends support to the “accumulation of information” explanation that sees high spreads and volatility at the open as a consequence of information accumulating during a market closure and impacting on the market when it next opens.

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This is the first study to provide comprehensive analyses of the relative performance of both socially responsible investment (SRI) and Islamic mutual funds. The analysis proceeds in two stages. In the first, the performance of the two categories of funds is measured using partial frontier methods. In the second stage, we use quantile regression techniques.By combining two variants of the Free Disposal Hull (FDH) methods (order-m and order-?) in the first stage of analysis and quantile regression in the second stage, we provide detailed analyses of the impact of different covariates across methods and across different quantiles. In spite of the differences in the screening criteria and portfolio management of both types of funds, variation in the performance is only found for some of the quantiles of the conditional distribution of mutual fund performance. We established that for the most inefficient funds the superior performance of SRI funds is significant. In contrast, for the best mutual funds this evidence vanished and even Islamic funds perform better than SRI.These results show the benefits of performing the analysis using quantile regression.

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The research presented in this thesis investigates the nature of the relationship between the development of the Knowledge-Based Economy (KBE) and Structural Funds (SF) in European regions. A particular focus is placed on the West Midlands (UK) and Silesia (Poland). The time-frame taken into account in this research is the years 1999 to 2009. This is methodologically addressed by firstly establishing a new way of calculating the General Index of the KBE for all of the EU regions; secondly, applying a number of statistical methods to measure the influence of the Funds on the changes in the regional KBE over time; and finally, by conducting a series of semi-structured stakeholder interviews in the two key case study regions: the West Midlands and Silesia. The three main findings of the thesis are: first, over the examined time-frame, the values of the KBE General Index increased in over 66% of the EU regions; furthermore, the number of the “new” EU regions in which the KBE increased over time is far higher than in the “old” EU. Second, any impact of Structural Funds on the regional KBE occurs only in the minority of the European regions and any form of functional dependency between the two can be observed only in 30% of the regions. Third, although the pattern of development of the regional KBE and the correlation coefficients differ in the cases of Silesia and the West Midlands, the analysis of variance carried out yields identical results for both regions. Furthermore, the qualitative analysis’ results show similarities in the approach towards the Structural Funds in the two key case-study regions.

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In this first talk on dissipative structures in fiber applications, we extend theory of dispersion-managed solitons to dissipative systems with a focus on mode-locked fibre lasers. Dissipative structures exist at high map strengths leading to the generation of stable, short pulses with high energy. Two types of intra-map pulse evolutions are observed depending on the net cavity dispersion. These are characterized by a reduced model and semi-analytical solutions are obtained.

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We extend theory of dispersion-managed solitons to dissipative systems with a focus on mode-locked fibre lasers. Dissipative structures exist at high map strengths, and different pulse evolutions are observed depending on the net cavity dispersion.

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We show experimentally and numerically that in high-speed strongly dispersion-managed standard fiber soliton systems nonlinear interactions limit the propagation distance. We present results that show that the effect of these interactions can be significantly reduced by appropriate location of the amplifier within the dispersion map. Using this technique, we have been able to extend the propagation distance of 10-Gbit/s 231–1pseudorandom binary sequence soliton data to 16, 500km over standard fiber by use of dispersion compensation. To our knowledge this distance is the farthest transmission over standard fiber without active control ever reported, and it was achieved with the amplifier placed after the dispersion-compensating fiber in a recirculating loop.

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In dispersion managed high bit rate systems, the importance of correctly choosing the pulse launch position is investigated. Using this technique, error free transmission has been achieved of a 40 Gbit/s 231-1 nonlinear RZ PRBS over 1160 km in a dispersion compensated standard fiber propagation experiment with a 75 km standard fiber span.

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We examine the feasibility of optical pulse transmission in dispersion-managed fiber systems with in-line nonlinear optical loop mirrors. Applying numerical analysis, we find regimes of stable propagation over long distances in such lines, with a significant increase in the signal-to-noise ratio. © 2000 Optical Society of America.

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We study soliton solutions of the path-averaged propagation equation governing the transmission of dispersion-managed (DM) optical pulses in the (practical) limit when residual dispersion and nonlinearity only slightly affect the pulse dynamics over one compensation period. In the case of small dispersion map strengths, the averaged pulse dynamics is governed by a perturbed form of the nonlinear Schrödinger equation; applying a perturbation theory – elsewhere developed – based on inverse scattering theory, we derive an analytic expression for the envelope of the DM soliton. This expression correctly predicts the power enhancement arising from the dispersion management. Theoretical results are verified by direct numerical simulations.