scholarly journals Heterogeneous Expectations and Speculative Behavior in Insurance-Linked Securities

2015 ◽  
Vol 2015 ◽  
pp. 1-12
Author(s):  
Min Zheng
Keyword(s):  
Weighted Average ◽  
Efficient Frontier ◽  
Impact Factors ◽  
Heterogeneous Agent ◽  
Existence And Stability ◽  
Speculative Behavior ◽  
The Stability ◽  
The Impact ◽  
The Relationship ◽  
Heterogeneous Agent Models

Within the framework of heterogeneous agent models, this paper analyzes the impact factors on the issuance of an insurance-linked security (ILS), and gives an ILS pricing formula and the conditions of existence and stability of the issue price. We consider two cases: fixed supply and flexible supply. We find that, in the fixed volume case, to assure the successful issuance of an ILS, an appropriate volume of the ILS is necessary, and to attract investors, the ILS should pay a positive premium which can help investors to enhance the efficient frontier of their portfolio. In the flexible supply case, we show that the issue price of an ILS is given by the weighted average of different beliefs about the discounted ILS return, and the stability of the issue price depends on the numbers of investors and sponsors and the extrapolation rate to the ILS of investors. In addition, whether an ILS has the hedging ability to sponsors depends on their own understanding about the ILS coupon and the relationship between the recovery from the ILS and their liability, but how much the risk of sponsors can be hedged relies on the ILS coupon expected by investors.

Research on the hydrographic survey cycle for updating navigational charts

2021 ◽  
pp. 1-13
Author(s):  
Jing Duan ◽  
Xiaoxia Wan ◽  
Jianan Luo
Keyword(s):  
Neural Network ◽  
Bp Neural Network ◽  
Calculation Model ◽  
Impact Factors ◽  
Factors Affecting ◽  
Material Resources ◽  
Hydrographic Survey ◽  
Survey Planning ◽  
The Impact ◽  
The Relationship

Abstract Due to the vast ocean area and limited human and material resources, hydrographic survey must be carried out in a selective and well-planned way. Therefore, scientific planning of hydrographic surveys to ensure the effectiveness of navigational charts has become an urgent issue to be addressed by the hydrographic office of each coastal state. In this study, a reasonable calculation model of hydrographic survey cycle is established, which can be used to make the plan of navigational chart updating. The paper takes 493 navigational charts of Chinese coastal ports and fairways as the research object, analyses the fundamental factors affecting the hydrographic survey cycle and gives them weights, proposes to use the BP neural network to construct the relationship between the cycle and the impact factors, and finally establishes a calculation model of the hydrographic survey cycle. It has been verified that the calculation cycle of the model is effective, and it can provide reference for hydrographic survey planning and chart updating, as well as suggestions for navigation safety.

scholarly journals Political Instability and Growth: Case of the Developing Countries

2013 ◽  
Vol 2 (1) ◽  
pp. 19
Author(s):  
Said JAOUADI ◽  
Lamia ARFAOUI ◽  
Azza ZIEDI
Keyword(s):  
Developing Countries ◽  
Empirical Investigation ◽  
Political Instability ◽  
Political Environment ◽  
Huge Number ◽  
Effective Governance ◽  
The Social ◽  
The Stability ◽  
The Impact ◽  
The Relationship

The paper attempted to examine the causal relationship between political instability and growth. Currently, the world continues to record huge number of popular revolutions in the region MENA, to improve the social environment and to consolidate implementing an effective governance. Although, the uprising has harmed the financial and economic situation in these countries, and became a threat for the stability of the countries, in overall.The manuscript accounts for the impact of political instability on the growth of the developing countries, in the shadow of the widespread of the revolutions since 2011. The paper attempted to illuminate the reality of the relationship between political environment and growth through the estimation of panel, comprising 69 developing countries 1985-2012.In the current paper, the authors conducted an empirical investigation, in which we bore out the claims raised in many surveys and the conclusions drawn by several authors about the harmful impact of political instability on the fundamental bases of the economy, in countries recording political instability.

scholarly journals Do alternative weighting approaches for an Index of Multiple Deprivation change the association with mortality? A sensitivity analysis from Germany

BMJ Open ◽  
2019 ◽  
Vol 9 (8) ◽  
pp. e028553 ◽  
Author(s):  
Florian Schederecker ◽  
Christoph Kurz ◽  
Jon Fairburn ◽  
Werner Maier
Keyword(s):  
Age Groups ◽  
Total Mortality ◽  
Premature Mortality ◽  
Area Deprivation ◽  
Multiple Deprivation ◽  
The Stability ◽  
Weighting Procedures ◽  
The Impact ◽  
The Relationship ◽  
Index Of Multiple Deprivation

ObjectivesThis study aimed to assess the impact of using different weighting procedures for the German Index of Multiple Deprivation (GIMD) investigating their link to mortality rates.Design and settingIn addition to the original (normative) weighting of the GIMD domains, four alternative weighting approaches were applied: equal weighting, linear regression, maximization algorithm and factor analysis. Correlation analyses to quantify the association between the differently weighted GIMD versions and mortality based on district-level official data from Germany in 2010 were applied (n=412 districts).Outcome measuresTotal mortality (all age groups) and premature mortality (<65 years).ResultsAll correlations of the GIMD versions with both total and premature mortality were highly significant (p<0.001). The comparison of these associations using Williams’s t-test for paired correlations showed significant differences, which proved to be small in respect to absolute values of Spearman’s rho (total mortality: between 0.535 and 0.615; premature mortality: between 0.699 and 0.832).ConclusionsThe association between area deprivation and mortality proved to be stable, regardless of different weighting of the GIMD domains. The theory-based weighting of the GIMD should be maintained, due to the stability of the GIMD scores and the relationship to mortality.

GROWTH INTENTIONS AND ACTUAL GROWTH: THE IMPACT OF ENTREPRENEURIAL CHOICE

1996 ◽  
Vol 04 (01) ◽  
pp. 1-17 ◽  
Author(s):  
LARS KOLVEREID ◽  
ERLEND BULLVAG
Keyword(s):  
Graduate School ◽  
Firm Growth ◽  
Longitudinal Design ◽  
Growth Patterns ◽  
Design Data ◽  
Actual Growth ◽  
Global Entrepreneurship ◽  
The Stability ◽  
The Impact ◽  
The Relationship

Acknowledgements: We would like to thank the Norwegian Royal Ministry of Industry and the Bodø Graduate School of Business for the financial support that made this research possible. We would also like to thank the Society of Associated Researchers in Entrepreneurship under whose auspices the data for this study was collected. An earlier version of this paper was presented at the 3rd Annual Global Entrepreneurship Conference, Lyon, France, March 1993. The present research investigated: (1) the relationship between entrepreneurs’ growth intentions and actual firm growth, (2) the stability of growth intentions, and (3) the relationship between changes in intentions and actual firm growth. Using a longitudinal design, data were collected from Norwegian entrepreneurs for 1990 and 1992. The results indicate that growth intentions may be used to predict actual growth, that past intentions are related to later intentions, and that changes in growth intentions are associated with changes in growth patterns.

scholarly journals Analysis of Stability Factors of Roadway Roof and Determination of Unsupported Roof Distance

2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Sen Yang ◽  
Xinzhu Hua ◽  
Xiao Liu ◽  
Chen Li
Keyword(s):  
Influencing Factors ◽  
Geological Conditions ◽  
Mine Roadway ◽  
Flac 3D ◽  
Roof Stability ◽  
Analysis Of Stability ◽  
The Stability ◽  
The Impact ◽  
The Relationship

To determine the impact of influencing factors on unsupported roof stability in coal mine roadway, a mechanical model of the unsupported roof was built. FLAC 3D numerical simulation was utilized to study the stability of the unsupported roof under the influence of the depth of the roadway, the thickness of the roof, and the unsupported-support distance. In view of the key influencing factors, the geological conditions of the site, and the relationship between the tensile stress and tensile strength of the unsupported roof, the maximum unsupported roof distance during roadway excavation was determined. Considering the surplus safety factor of the unsupported roof, the reasonable unsupported roof distance during the excavation of roadway 150802 was finally determined to be 2.08 m. The comprehensive roadway excavation speed increased by 62.7%, achieving a monthly progress over 500 m.

scholarly journals EFFECT OF BLASTING ON THE STABILITY OF LINING DURING EXCAVATION OF NEW TUNNEL NEAR THE EXISTING TUNNEL

2021 ◽  
Vol 30 (1) ◽  
Author(s):  
Tuan Minh Tran ◽  
Quang Huy Nguyen
Keyword(s):  
Field Data ◽  
Damage Zone ◽  
Field Tests ◽  
Surrounding Rock ◽  
In Situ Test ◽  
The Stability ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

In recent years, experimental and numerical researches on the effect of blasting pressure on the stability of existing tunnels was widely obtained. However, the effect of the blasting pressure during excavation a new tunnel or expansion old tunnels on an existing tunnel has disadvantages and still unclear. Some researches were carried out to study the relationship of the observed Peak Particle Velocity (PPV) on the lining areas along the existing tunnel direction, due to either the lack of in situ test data or the difficulty in conducting field tests, particularly for tunnels that are usually old and vulnerable after several decades of service. This paper introduces using numerical methods with the field data investigations on the effect of the blasting in a new tunnel on the surrounding rock mass and on the existing tunnel. The research results show that not only predicting the tunnel lining damage zone under the impact of blast loads but also determination peak maximum of explosion at the same time at the surface of tunnel working.

Small-bioreactor platform technology as a municipal wastewater additive treatment

2013 ◽  
Vol 69 (3) ◽  
pp. 504-510 ◽  
Author(s):  
Ofir Menashe ◽  
Eyal Kurzbaum
Keyword(s):  
Biological Treatment ◽  
Municipal Wastewater ◽  
Selection Process ◽  
Study Results ◽  
Different Types ◽  
Selective Forces ◽  
The Stability ◽  
Physical And Chemical ◽  
The Impact ◽  
The Relationship

The bioaugmentation treatment approach presents both an economical and environmentally friendly solution for wastewater treatment. However, the use of exogenous bacterial cultures presents several limitations: negative interaction between microorganisms and adaptation to new physical and chemical composite environment. These selective forces create a significant challenge for the introduced culture to achieving the required biomass in order to conduct the target biological treatment. Small-bioreactor platform (SBP) technology is aimed at introducing exogenous bacterial culture with some protection to reduce some of the natural selection process. The current study was aimed at validating the use of SBP technology to improve biological treatment, especially during a stress period, by using macro-encapsulated bioaugmentation treatment. The study results indicate that the use of SBP technology elevates the stability of biological treatment, improving operational factors such as the reduction of foaming phenomena and sludge accumulation. Still, a significant study needs to be conducted to understand the potential of this technology; especially the impact on biological treatment by using different types of microorganisms for different types of wastewaters and the relationship between the biomass within the SBP capsules and the natural microorganisms.

The cumulative effect of satisfaction with discrete transactions on share of wallet

2014 ◽  
Vol 25 (3) ◽  
pp. 310-333 ◽  
Author(s):  
Timothy L. Keiningham ◽  
Lerzan Aksoy ◽  
Edward C. Malthouse ◽  
Bart Lariviere ◽  
Alexander Buoye
Keyword(s):  
Weighted Average ◽  
Cumulative Effect ◽  
Service Encounters ◽  
Data Set ◽  
Content Type ◽  
Share Of Wallet ◽  
Purchase Behaviors ◽  
The Impact ◽  
The Relationship ◽  
Individual Service

Purpose – The purpose of this paper is to propose a theoretical model for how consumers aggregate satisfaction with individual service encounters to form a summary evaluation of satisfaction, and further examines its effect on customers’ share of category spending (share of wallet (SOW)). Design/methodology/approach – The data used consist of 10,983 completed surveys from 1,448 customers whose transaction-specific satisfaction with a retailer and their subsequent purchase behaviors in the category were tracked for more than four transactions. Mixed effects models were employed to test the relationship between the cumulative effect of satisfaction with multiple service encounters on SOW. Findings – Cumulative satisfaction is a weighted average of satisfaction with specific encounters, with weights decaying geometrically so that more recent encounters receive more weight. More recent transaction-specific satisfaction levels tend to have greater influence on customers’ next purchase SOW allocations; this, however, is only the case for customers who are less than highly satisfied, with a rating of 8 or lower on a ten-point scale. Additionally, the impact of transaction-specific satisfaction on SOW is not linear. Highly positive transaction-specific satisfaction levels have a greater impact on SOW than negative levels. Practical implications – Many companies monitor satisfaction across multiple service encounters. This study shows how one can aggregate these measures to arrive at a cumulative effect, and highlights the importance to discriminate between first, more and less recent encounters and second, low vs high levels of satisfaction to better understand customers’ spending among different providers. Originality/value – Using a longitudinal data set with real customers, this paper identifies a new measure for taking into account the cumulative satisfaction, identifies the positivity bias, and shows how recency affects the relationship between satisfaction and SOW.

scholarly journals Sustainable Corporate Governance: The Impact Factors for Top Consulting Engineering Companies in Taiwan

2021 ◽  
Vol 13 (14) ◽  
pp. 7604
Author(s):  
Jieh-Haur Chen ◽  
Tien-Sheng Chou ◽  
Jui-Pin Wang ◽  
Hsi-Hsien Wei ◽  
Tzu-Han Yang
Keyword(s):  
Corporate Governance ◽  
Structural Equation ◽  
Global Markets ◽  
Impact Factors ◽  
Equation Modeling ◽  
Proper Order ◽  
The Impact ◽  
The Relationship ◽  
Scale Format ◽  
Consulting Engineering

The objective of this research was to explore the impact factors of sustainable corporate governance for top consulting engineering companies in Taiwan, to facilitate managers in meeting stakeholders’ needs and adapting to the challenges of the global markets. Nine hypotheses derived from a literature review were proposed and used to develop a survey. Based on the concept of structural equation modeling (SEM) and these hypotheses, a questionnaire containing six aspects and comprising 46 stems was developed using the Likert 5-scale format. The survey took around four months to administer with 324 effective returns, with only five hypotheses confirmed. This was followed by factor analysis to determine the weight sequence for the 28 impact factors and four aspects. The contributions of the findings are as follows: (1) the weighted factors provide practitioners with guidelines for the proper order for the implementation of measures to improve corporate governance, and (2) they answer questions about the degree of influence and the relationship among all aspects and factors for sustainable corporate governance.

scholarly journals The Impact of Government Spending on Economic Diversification for the Period (2004-2019) and its Reflection on the Path of Rehabilitation of the Iraqi Economy

Webology ◽  
2021 ◽  
Vol 18 (2) ◽  
pp. 1186-1198
Author(s):  
Dr. Alyaa Hussain Khalaf ◽  
Ali Talib Hussain ◽  
Dr. Ammar Naeem Zghair
Keyword(s):  
Government Spending ◽  
Positive Equilibrium ◽  
Economic Diversification ◽  
Ardl Model ◽  
Equilibrium Relationship ◽  
The Stability ◽  
Investment Spending ◽  
The Impact ◽  
The Relationship

The research aims to measure and analyze the relationship between government spending and economic diversification in Iraq for the period (2004-2019), using the ARDL model. The research concluded that there is a long-term positive equilibrium relationship between investment spending and economic diversification in Iraq. When investment spending increases by (1%), this will lead to an increase in economic diversification by (0.23%), assuming that operating spending is stable, and the opposite happens in the case of decline. In addition to the existence of a long-term inverse equilibrium relationship between operating spending and economic diversification in Iraq, as an increase in operating spending by (1%) will lead to a decrease in economic diversification by (0.73%), assuming the stability of investment spending, and the opposite will happen in the event of decline.

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