Volume-Synchronized Probability of Informed Trading (VPIN), Market Volatility, and High-Frequency Liquidity

We assess the predictive ability of three VPIN metrics on the basis of two highly volatile market events of China, and examine the association between VPIN and toxic-induced volatility through conditional probability analysis and multiple regression. We examine the dynamic relationship on VPIN and high-frequency liquidity using Vector Auto-Regression models, Granger Causality tests, and impulse response analysis. Our results suggest that Bulk Volume VPIN has the best risk-warning effect among major VPIN metrics. VPIN has a positive association with market volatility induced by toxic information flow. Most importantly, we document a positive feedback effect between VPIN and high-frequency liquidity, where a negative liquidity shock boosts up VPIN, which, in turn, leads to further liquidity drain. Our study provides empirical evidence that reflects an intrinsic game between informed traders and market makers when facing toxic information in the high-frequency trading world.

Effects of credit rating change on risk-taking

This thesis investigates whether there are changes in risk-taking behavior following an upgrade or downgrade in credit ratings. Research on effects of rating changes on capital markets is well-documented but the literature on how rating changes may affect firm behavior is sparse. Following, a downgrade in credit rating, managers may increase risk-taking to improve their overall performance or reduce risk-taking following upgrades to ensure that their performance is assessed more on the basis of what they may deem success in the form of an upgrade. Using a sample of firms trading in the U.S from 1994-2013, we find evidence of change in risk-taking behavior. We use cross-sectional regressions and matching using propensity scores and Barber and Lyon (1997) methodology to measure changes in risk-taking and we do find evidence of changes in managerial risk-taking behavior. Furthermore, we find that the direction of change (increase or decrease) in some cases is dependent on the type of measure rather than the type of rating change.

Alleviating Negative Spillover of a Brand-Harm Crisis: Sensegiving vs. Sensehiding in a Competitor’s Denial Response Strategy

A brand-harm crisis not only affects the scandalized brand, but may also influence competing brands. Thus, marketers of competing brands need to develop response strategies for reducing negative spillover effects. This research takes a competitor’s perspective and introduces two types of response strategies used to convey a sense of denial: sensegiving and sensehiding. It also investigates how the effects of response strategies are contingent upon brand relatedness and individual thinking styles. The results from three experimental studies show that using a sensegiving strategy reduces negative spillover effects more than using a sensehiding strategy. Additionally, the studies suggest that the observed difference in the effects of response strategy tends to be greater when the level of brand relatedness is high than when it is low. However, individual thinking styles (holistic vs. analytic) seem to have little impact on consumers’ responses to the two denial strategies. This research contributes to the brand-harm crisis literature and provides novel insights into a competitor’s response to potential negative spillover effects.

Drivers of Local Firms’ Focus on Internal R&D in Emerging Economies and Their International Performance

Grounded on the resource-based view of the firm, the study of this thesis investigates the effect of four internal and external factors – engineer intensity, location, affiliation with the government, government funding – on Chinese firms’ decision to either invest in internal R&D activities or external R&D and the effect of this decision on the firms’ international market success. In addition, the moderating role of the presence of foreign firms in China is examined. To understand these relationships, the thesis’ theorization focuses on the issue of how firms can combine optimally the two options – “internal R&D” and “external R&D”. In this regard I juxtapose internal R&D and external R&D and compare their advantages and disadvantages. To test my model, I apply panel data from the Annual Industrial Survey Database provided by the Chinese National Bureau of Statistics. My results show that three of the four investigated factors affect Chinese firms’ resource allocation decisions; and effective resource allocation decisions lead effectively to international market success, strengthened by the presence of foreign firms in China. Moreover the findings bear several theoretical and managerial contributions. First I propose the last dimension of the “VRIO framework” – “organization” – as an endogenous component of the VRIO framework, as my study investigated how firms can effectively combine resources to generate a competitive advantage in terms of international market success. Previous academic literature so far focused on examining whether internal and external R&D are complements or substitutes. My study fills a gap in the literature by investigating the determinants of the efficient combination of the two strategies and the outcome of the combination. One of the managerial implications is that Chinese firms can learn from foreign companies that are present in China.

Legalistic or Inspirational? Comparing University Conflict of Interest Policies

In response to growing public and policy concern about conflicts of interest (COI) in university research, academic institutions in North America and Europe have introduced policies to manage COI. However, depending on their form and content, COI policies can be more or less helpful in the effective management of COI. In this paper, we examine and compare the design and content of COI policies at two Canadian research universities (the Université de Montréal and the University of Waterloo), which we suggest, exemplify two general categories or poles on a spectrum of policy approaches. We describe 1) a legalistic approach that promotes a concise but rigid structure, and 2) an inspirational approach that encourages principle-based deliberation and wider interpretation. Each of these approaches has its particular strengths and weaknesses. We conclude with some recommendations to help administrators and policy makers improve the quality, utility and effectiveness of university COI policies.

Supervisor-Student Relations: Examining the Spectrum of Conflicts of Interest in Bioscience Laboratories

Much attention has been given to financial conflicts of interest (COI) in bioscience research. Yet to date, surprisingly little attention has focused on other COIs that arise in supervisor-student relations. We examine a spectrum of related situations, ranging from standard graduate supervision through to dual relationships sometimes found in research with commercial potential. We illustrate some of the less-obvious factors that can bias supervisory judgment, and situate financial COI along a spectrum of forces that are deserving of recognition. We conclude by providing two sets of recommendations: one for individual supervisors, and the other for institutions and policy-makers.

How to build a bioinformatics service in a year

Introduction: Biomedical scientists need to choose among hundreds of publicly available bioinformatics applications, tools, and databases. Librarian challenges include raising awareness to valuable resources, as well as providing support in finding and evaluating specific resources. Our objective is to implement an education program in bioinformatics similar to those offered in other North American academic libraries. Description: Our initial target clientele included four research departments of the Faculty of Medicine at Universite´ de Montréal. In January 2010, I attended two departmental meetings and interviewed a few stakeholders in order to propose a basic bioinformatics service: one-to-one consultations and a workshop on NCBI databases. The response was favourable. The workshop was thus offered once a month during the Winter and Fall semesters, and participants were invited to evaluate the workshop via an online survey. In addition, a bioinformatics subject guide was launched on the library���s website in December 2010. Outcomes: One hundred and two participants attended one of the nine NCBI workshops offered in 2010; most were graduate students (74%). The survey’s response rate was 54%. A majority of respondents thought that the bioinformatics resources featured in the workshop were relevant (95%) and that the difficulty level of exercises was appropriate (84%). Respondents also thought that their future information searches would be more efficient (93%) and that the workshop should be integrated in a course (78%). Furthermore, five bioinformatics-related reference questions were answered and two one-to-one consultations with students were performed. Discussion: The success of our bioinformatics service is growing. Future directions include extending the service to other biomedical departments, integrating the workshop in an undergraduate course, promoting the subject guide to other francophone universities, and creating a bioinformatics blog that would feature specific databases, news, and library resources.

Looking at The Future of Canadian Copyright in The Rear View Mirror

"L’auteur présente une analyse générale de l’évolution historique et des développements récents du régime des droits d’auteur au Canada. Avec le développement des nouvelles technologies de l’information, et plus spécifiquement de l’Internet, le régime canadien des droits d’auteur nécessiterait d’importantes réformes. L’auteur déplore toutefois les modifications récentes issues de la loi C-60. En effet, selon lui, ces changements ne correspondent pas au régime international proposé par l’Organisation Mondiale de Propriété Intellectuelle. En fait, ceux-ci cadrent beaucoup plus avec la perspective américaine de protection limitative des droits d’auteur. Michael Geist trace d’abord l’historique du développement du régime de protection des droits d’auteur au Canada. Il souligne notamment les modifications législatives importantes de la fin des années 1980 et 1990 qui visaient à renforcer les règles de reconnaissance et de protection des droits que les auteurs canadiens possèdent sur leurs œuvres. Parallèlement, à ces modifications législatives, la Cour Suprême du Canada s’est aussi prononcée sur la question des droits d’auteur en interprétant limitativement la portée de ce régime, facilitant ainsi l’accès des œuvres artistiques au domaine public. L’auteur souligne les divergences et les contradictions entre la conception législative et celle jurisprudentielle de la fonction du régime canadien des droits d’auteur. Le législateur canadien a récemment proposé une nouvelle modification du régime de droits d’auteurs qui consisterait en l’extension des délais obligatoire avant qu’une œuvre couverte par le régime ne soit incluse dans le domaine public. Michael Geist s’oppose à une telle modification et soutient qu’elle entraînerait de nombreuses conséquences négatives pour les auteurs et les artistes canadiens. En effet, cette modification limiterait l’accès des auteurs aux oeuvres antérieures, elle entraverait les opportunités et les capacités commerciales des œuvres canadiennes et restreindrait les domaines de recherche académique. L’auteur aborde par la suite la problématique reliée aux ""Mesures de Protection Techniques"" et à la législation qui les encadre. En analysant les problèmes causés par ces mesures aux États-Unis, il présente leurs effets nuisibles pour les domaines fondamentaux de la liberté de parole et de la recherche académique. Les réformes possibles du régime canadien des droits d’auteur se situent dans une perspective plus ouverte du régime de protection et de promotion des œuvres canadiennes. Ces réformes auraient l’avantage de promouvoir et de protéger les œuvres canadiennes tout en évitant les problèmes causés par les mesures trop limitatives. À ce sujet, l’auteur propose l’établissement d’une bibliothèque digitale nationale, l’abrogation des droits d’auteur de la couronne et un nouveau régime permettant l’utilisation du matériel radiodiffusé de la Société Radio-Canada."

Les azasulfurylpeptides : synthèse, analyse conformationnelle et applications biologiques

Les azasulfurylpeptides sont des mimes peptidiques auxquels le carbone en position alpha et le carbonyle d’un acide aminé sont respectivement remplacés par un atome d’azote et un groupement sulfonyle (SO2). Le but premier de ce projet a été de développer une nouvelle méthode de synthèse de ces motifs, également appelés N-aminosulfamides. À cette fin, l’utilisation de sulfamidates de 4-nitrophénol s’est avérée importante dans la synthèse des azasulfuryltripeptides, permettant le couplage d’hydrazides avec l’aide d’irradiation aux micro-ondes (Chapitre 2). Par la suite, en quantité stoechiométrique d’une base et d’un halogénure d’alkyle, les azasulfurylglycines (AsG) formés peuvent être chimiosélectivement alkylés afin d’y insérer diverses chaînes latérales. Les propriétés conformationnelles des N-aminosulfamides à l’état solide ont été élucidées grâce à des études cristallographiques par rayons X : elles possèdent une structure tétraédrique autour de l’atome de soufre, des traits caractéristiques des azapeptides et des sulfonamides, ainsi que du potentiel à favoriser la formation de tours gamma (Chapitre 3). Après le développement d’une méthode de synthèse des N-aminosulfamides en solution, une approche combinatoire sur support solide a également été élaborée sur la résine amide de Rink afin de faciliter la génération d’une librairie d’azasulfurylpeptides. Cette étude a été réalisée en employant le growth hormone releasing peptide 6 (GHRP-6, His-D-Trp-Ala-Trp-D-Phe-Lys-NH2). Ce dernier est un hexapeptide possédant une affinité pour deux récepteurs, le growth hormone secretagogue receptor 1a (GHS-R1a) et le récepteur cluster of differenciation 36 (CD36). Une affinité sélective envers le récepteur CD36 confère des propriétés thérapeutiques dans le traitement de la dégénérescence maculaire liée à l’âge (DMLA). Six analogues d’azasulfurylpeptides de GHRP-6 utilisés comme ligands du CD36 ont été synthétisés sur support solide, mettant en évidence le remplacement du tryptophane à la position 4 de GHRP-6 (Chapitre 4). Les analogues de GHRP-6 ont été ensuite analysés pour leur capacité à moduler les effets de la fonction et de la cascade de signalisation des ligands spécifiques au Toll-like receptor 2 (TLR2), en collaboration avec le Professeur Huy Ong du département de Pharmacologie à la Faculté de Pharmacie de l’Université de Montréal. Le complexe TLR2-TLR6 est reconnu pour être co-exprimé et modulé par CD36. En se liant au CD36, certains ligands de GHRP-6 ont eu un effet sur la signalisation du TLR2. Par exemple, les azasulfurylpeptides [AsF(4-F)4]- et [AsF(4-MeO)4]-GHRP-6 ont démontré une capacité à empêcher la surproduction du monoxyde d’azote (NO), un sous-produit réactif formé suite à l’induction d’un signal dans les macrophages par des ligands spécifiques liés au TLR2, tel le fibroblast-stimulating lipopeptide 1 (R-FSL-1) et l’acide lipotéichoïque (LTA). En addition, la sécrétion du tumor necrosis factor alpha (TNFa) et du monocyte chemoattractant protein 1 (MCP-1), ainsi que l’activation du nuclear factor kappa-light-chain-enhancer of activated B cells (NF-kB), ont été réduites. Ces résultats démontrent le potentiel de ces azasulfurylpeptides à pouvoir réguler le rôle du TLR2 qui déclenche des réponses inflammatoires et immunitaires innées (Perspectives). Finalement, le potentiel des azasulfurylpeptides d’inhiber des métallo-bêta-lactamases, tels le New-Delhi Metallo-bêta-lactamase 1 (NDM-1), IMP-1 et le Verona Integron-encoded Metallo-bêta-lactamase 2 (VIM-2), a été étudié en collaboration avec le Professeur James Spencer de l’Université de Bristol (Royaumes-Unis). Certains analogues ont été des inhibiteurs micromolaires du IMP-1 (Perspectives). Ces nouvelles voies de synthèse des azasulfurylpeptides en solution et sur support solide devraient donc permettre leur utilisation dans des études de relations structure-activité avec différents peptides biologiquement actifs. En plus d'expandre l'application des azasulfurylpeptides comme inhibiteurs d'enzymes, cette thèse a révélé le potentiel de ces N-aminosulfamides à mimer les structures secondaires peptidiques, tels que les tours gamma. À cet égard, l’application des azasulfurylpeptides a été démontrée par la synthèse de ligands du CD36 présentant des effets modulateurs sur le TLR2. Compte tenu de leur synthèse efficace et de leur potentiel en tant qu’inhibiteurs, les azasulfurylpeptides devraient trouver une large utilisation dans les sciences de peptides pour des applications dans la médecine et de la chimie biologique.

“When I Grow Up I Want to be a Doctor”: Promoting Atikamekw Children’s Interest for Health Professions Through a Book Collection

Introduction: Aboriginal peoples are underrepresented within the healthcare professions, and recruitment of Aboriginal students has become a priority for medical schools in Canada. Because of very low high-school completion rates among youth living on-reserve, the Université de Montréal’s Faculty of Medicine launched in 2011 the Mini-école de la santé, a program where health sciences students visit aboriginal schools. Through activities and games, students introduce children to the discovery of health professions. In 2014, the Health Library joined the project with the development of a science books collection for the school libraries and by having a librarian participate in the school visits. Description: In collaboration with the two Atikamekw elementary schools to be visited in 2014, 70 children books on science, human anatomy and the health professions were selected and purchased for each school by the Health Library. A librarian joined the health sciences students during the schools visits and the book collection was integrated in the activities organised during the day. The books were afterwards donated to the school library. Outcomes: Children, school teachers and administrators greatly appreciated the collection. The books were integrated in the library school collections or in the classrooms collections. Discussion: Quality school libraries play an important role in student learning, and access to science and health sciences books could enhance children‘s interest for the health professions. By participating in this project, the library is supporting the Health sciences faculties in achieving their goal of reaching out to Aboriginal children and making them aware that a career in health sciences is possible for them. The collaboration has been successful and will be pursued: the Health library will work with the high schools in the same Atikamekw communities to develop science book collections and the schools will be visited in 2015. A Masters in Library and Information Science student will be joining the Mini-école. Upgrading all donated collections is planned as well.

Non-Destructive Evaluation of Ion-Implanted Semiconductor Thin Films Using Photothermal Deflections Spectroscopy

Materials and equipment which fail to achieve the design requirements or projected life due to undetected defects may require expensive repair or early replacement. Such defects may also be the cause of unsafe conditions or catastrophic unexpected failure, and will lead to loss of revenue due to plant shutdown. Non-Destructive Evaluation (NDE) / Non Destructive Testing (NDT) is used for the examination of materials and components without changing or destroying their usefulness. NDT can be applied to each stage of a system’s construction, to monitor the integrity of the system or structure throughout its life.

Studies on the Synthesis and Transformations of A Few Dibenzoylalkene – Type Systems

The aim of the study is to synthesise several dibenzoylakene-type systems such as acenaphthenone-2-ylidene ketones 47 and phenanthrenone-9-ylidene ketones 48 by the condensation reaction of acenaphthenequinone and phenanthrenequinone with methyl ketones. Here studies the thermal and photochemical transformations of acenaphthaenone-2-ylidene ketones 3a-c.These acenaphthenone –2-ylidene ketones underwent extensive decomposition on heating. The objectives of present study is to synthesise acenaphthenone-2-ylidene ketones by the Claisen-Schmidt condensation of acenaphthenequinone and methyl ketones, it is to synthesise phenanthrenone –9-ylidene ketones by the Claisen-Schmidt condensation of phenanthrequinone and methyl ketones, thermal studies on acenaphthenone-2-ylidene ketones and phenanthrenone-9-ylidene ketones, photochemical studies on acenaphthenone-2-ylidene ketones and phenanthrenone –9-ylidene ketones to establish the generality of dibenzoyalkene rearrangement. Cyclic voltammetric studies on these dibezoyalkenes to compare their redox behaviour with that of the cis and trans isomers of dibenzoyl-ethylene, dibenzoylstilbene. These results should provide some information about their reactivity, and to assess and exploit the potential of these systems as quinonemethides. This study conclude that a number of new dibenzolalkene-type systems have been synthesized by the Claisen-Schmidt condensation of 1,2-diketones such as phenanthequinone and acenaphthenequinone with methyl ketones. Some of these compounds have been shown to undergo interesting photochemical transformations. Based on the results it is conclude that phenanthjrenone-9-ylidene ketones are excellent Michael acceptors. Methanol adds to these to yield the corresponding furanols. These furanols are unstable and are slowly converted to phenanthro-2 (3H)-furanones.

Electro-Optical Properties of Metal Phthalocyanines and Naphthalocyanines

The thesis deals with the preparation of chemical, optical, thermal and electrical characterization of five compounds, namely metal free naphthalocyanine, vanadyl napthalocyanine, zinc naphlocyanine, europium dinaphthalocyanine, and europium diphthalocyanine in the pristine and iodine-doped forms. Two important technological properties of these compounds have been investigated. The electrical properties are important in applications sensors and semiconductor lasers. Opto-thermal properties assume significance for optical imaging and data recording. The electrical properties were investigated by dc and ac techniques. This work has revealed some novel information on the conduction mechanism in five macrocyclic compounds and their iodine-doped forms. Also useful data on the thermal diffusivity of the target compounds have been obtained by optical techniques.

Synthesis, Spectral Characterization, Structural Studies and Biological Investigations of Transition Metal Complexes of Some Acid Hydrazones

This study concentrates the chemical properties of hydrazones due to its chelating capability and their pharmacological applications. Studies cover the preparation of different acid hydrazones and their structural studies and studies on their antimicrobial activity, synthesis and spectral characterization of different complexes of copper oxovanadium, manganese, nickel etc. Effect of incorporation of heterocyclic bases to the coordination sphere, change in the biological activity of acid hydrazones upon coordination, development of X-ray quality single crystals and its X-ray diffraction studies, studies on the redox behavior of the coordinated metal ions and correlation between the stereochemistry and biological activities.

Production and Characterization of Lignin Peroxidases from Mangrove Ascomycetes

In this thesis, the production and characterization of ligninolytic enzymes using the fungi isolated from mangrove area are studied. The objective of the present work are isolation and screening of dye decolorizing micro-organisms from mangrove area, screening of the selected microorganisms for the production of lignin degrading enzymes, identification of the potent micro-organisms, characterization of the crude enzyme, lignin peroxidase, of the selected fungi—Aspergillus sp. SIP 11 and Penicillium sp. SIP 10 etc. This included the determination of the optimum pH, temperature, veratryl alcohol and H2O2 concentration. Besides the stability of crude LiP at different pHs and temperatures were studied. The immense applications, particularly in bioremediation, to which the lignin degrading micro-organisms could be used make this study important, the ascomycetes and deuteromycetes fungi, especially form the marine environment were studied with respect to their ligninolytic enzyme system making this study an initial step in unraveling the vast hidden potential of these microbes in bioremediation, the marine microbes are halophilic in nature which make them better suited to cope with the high salinity of industrial effluents thereby giving them added advantage in the filed of bioremediation. The thesis deals with the isolation and screening of lignin degrading enzyme-producing microbes from mangrove area. The identification of the most potent fungal isolates and characterization of LiP from these are also done.