scholarly journals Exploiting the crowd: The New Zealand response to equity crowd funding

2021 ◽  
Author(s):  
◽  
Henry William Hillind
Keyword(s):  
New Zealand ◽  
High Risk ◽  
Financial Markets ◽  
Start Up ◽  
Retail Investors ◽  
On Line ◽  
Internet Platform ◽  
Investor Protections ◽  
Disclosure Statement ◽  
Do So

<p>The crowd funding exclusion in the Financial Markets Conduct Act 2013 allows issuers, often innovative start-up businesses, to raise up to $2,000,000 in a 12 month period from retail investors through an internet platform provided by a licensed intermediary service, without the need for the product disclosure statement and on-line disclosures usually required under Part 3 of the Act. In order to protect the interests of investors in a market with a high risk of negligible return, other protections need to be provided. International jurisdictions have imposed investor caps, but New Zealand has failed to do so. This essay argues that, particularly in light of shortcomings with other aspects of crowd funding investor protections, a mandatory investor cap of five per cent of the amount being raised should be imposed, to protect investors both from the high risks of venture capital investing and from their own inexperience in this new and rapidly developing market.</p>

scholarly journals Exploiting the crowd: The New Zealand response to equity crowd funding

2021 ◽  
Author(s):  
◽  
Henry William Hillind
Keyword(s):  
New Zealand ◽  
High Risk ◽  
Financial Markets ◽  
Start Up ◽  
Retail Investors ◽  
On Line ◽  
Internet Platform ◽  
Investor Protections ◽  
Disclosure Statement ◽  
Do So

<p>The crowd funding exclusion in the Financial Markets Conduct Act 2013 allows issuers, often innovative start-up businesses, to raise up to $2,000,000 in a 12 month period from retail investors through an internet platform provided by a licensed intermediary service, without the need for the product disclosure statement and on-line disclosures usually required under Part 3 of the Act. In order to protect the interests of investors in a market with a high risk of negligible return, other protections need to be provided. International jurisdictions have imposed investor caps, but New Zealand has failed to do so. This essay argues that, particularly in light of shortcomings with other aspects of crowd funding investor protections, a mandatory investor cap of five per cent of the amount being raised should be imposed, to protect investors both from the high risks of venture capital investing and from their own inexperience in this new and rapidly developing market.</p>

scholarly journals Applying the Random Forest Model to Forecast the Market Reaction of Start-up Firms: Case Study of GISA Equity Crowdfunding Platform in Taiwan

2020 ◽  
Vol 17 ◽  
Keyword(s):  
High Risk ◽  
Random Forest ◽  
Capital Market ◽  
Market Reaction ◽  
Analytical Technique ◽  
Equity Crowdfunding ◽  
Start Up ◽  
Proposed Model ◽  
Retail Investors

In 2015, Taiwan introduced an exchange platform for equity crowdfunding called the Go Incubation Board for Startup and Acceleration (GISA) which is supervised by the OTC Taipei Exchange organization. Equity crowdfunding provides another channel for startups to access capital and allows for a new mechanism for start-up firms to establish their reputation with investors. However, the risks to investors from equity crowdfunding are high. The high-risk nature of equity crowdfunding has the potential to act as a contagion, and further erode confidence in the startup capital market by retail investors -- and this lingers over the GISA platform in Taiwan. Therefore, this study applies the of Random Forest (RF) algorithm to evaluate the market reaction for start-up firms on the GISA in Taiwan. The RF algorithm is proposed to be integrated into an AI model to forecast the market reaction to start-up firms as they get listed on the GISA equity crowdfunding platform. The results not only fulfill the gap of detecting market reaction in equity crowdfunding, but the proposed RF model can replace the traditional statistics analytical technique to evaluate the market reaction. In proposed model applied AI algorithms to predict the market reaction on Taiwan GISA platform which can provide a useful ensemble tool for start-up firms and entrepreneurs to evaluate the degree of market reaction more efficiently before listing on the Taiwan GISA platform.

The use of particle monitoring in the performance optimisation of conventional clarification and filtration processes

1997 ◽  
Vol 36 (4) ◽  
pp. 191-198
Author(s):  
G. Standen ◽  
P. J. Insole ◽  
K. J. Shek ◽  
R. A. Irwin
Keyword(s):  
Activated Carbon ◽  
Water Supply ◽  
Laser Diffraction ◽  
Raw Water ◽  
Particle Distributions ◽  
Upper Limit ◽  
Start Up ◽  
On Line ◽  
Particulates Removal ◽  
Particle Monitoring

The application of laser diffraction particle monitoring to the performance optimisation of a pilot clarifier and full-scale rapid gravity filters (RGF), operating on water supply works in Hampshire, is described. Furthermore the dosing of powdered activated carbon (PAC) into the works' clarifiers has been evaluated in terms of RGF performance. A costly proposal to install a third filter medium was subsequently abandoned when it was found that particle numbers in the filtered water were consistently below 1×102/ml. Various combinations and doses of coagulants and flocculant aids, shown to give optimum particulates removal during intensive jar testing trials, were transferred to the pilot clarifier. Particle monitoring enabled a more accurate derivation of suitable blanket chemistry and optimum blanket heights than turbidity changes. Raw water turbidities were 10-15 NTU at start-up with corresponding counts beyond the upper limit of the particle monitor. An on-line dilution system was developed to overcome this problem. Latex bead (4.33 μm) and Lycopodium spore (4-5 μm) suspensions (about 1 × 109 particles) were injected into the pilot clarifier to assess the removal efficiency of Cryptosporidium-sized particles. Reductions of about 1.7 log and 2.6 log were achieved for the beads and spores, respectively. Particle distributions of various PAC's and a bentonite were obtained in order to assess their potential effects on the coagulation process during clarification. Bentonite was also beneficial as an on-line means of checking particle monitor response and calibration. The works' filters achieved 1.5 to 2.0 log removals of 2-5 μm particles without media addition or operational changes. Combined clarification and filtration gave better particulates removal than two-stage microfiltration.

scholarly journals A Note on On-Line Ramsey Numbers for Some Paths

Mathematics ◽  
2021 ◽  
Vol 9 (7) ◽  
pp. 735
Author(s):  
Tomasz Dzido ◽  
Renata Zakrzewska
Keyword(s):  
Ramsey Number ◽  
Ramsey Numbers ◽  
Minimum Number ◽  
On Line ◽  
Infinite Set ◽  
Do So

We consider the important generalisation of Ramsey numbers, namely on-line Ramsey numbers. It is easiest to understand them by considering a game between two players, a Builder and Painter, on an infinite set of vertices. In each round, the Builder joins two non-adjacent vertices with an edge, and the Painter colors the edge red or blue. An on-line Ramsey number r˜(G,H) is the minimum number of rounds it takes the Builder to force the Painter to create a red copy of graph G or a blue copy of graph H, assuming that both the Builder and Painter play perfectly. The Painter’s goal is to resist to do so for as long as possible. In this paper, we consider the case where G is a path P4 and H is a path P10 or P11.

scholarly journals O2B.3 Work related stress for new zealand workers in high risk sectors: what can we learn from a demographic analysis?

2019 ◽  
Vol 76 (Suppl 1) ◽  
pp. A15.1-A15
Author(s):  
Kirsten Lovelock ◽  
Trang Khieu
Keyword(s):  
New Zealand ◽  
High Risk ◽  
Work Performance ◽  
Health Behaviours ◽  
Psychosocial Health ◽  
Work Related Stress ◽  
Safety Attitudes ◽  
Work Related ◽  
High Staff Turnover ◽  
Related Stress

The physical and psychological outcomes of work related stress place a burden on individuals, their families, workplaces and communities. Work related stress is a health and socio-economic and political problem. It reduces work performance; drives higher rates of absenteeism or sick leave; can increase rates of injury; prompt high staff turnover; and, can prompt poor health behaviours such as excessive drinking or taking of drugs. The research record focussing on work related stress in New Zealand (NZ) is small and uneven, but growing. The aim of this study was to explore the prevalence of work-related stress among workers by a set of demographic characteristics. The study used data from the Health and Safety Attitudes and Behaviour Survey (HSABS) 2016. A total of 2190 workers in the four high risk industries (agriculture, forestry, construction and manufacturing) were interviewed about their perceptions towards work-related stress. Weighting was conducted to control inherent biases. Differences between workers were examined by age, sex, ethnicity, qualifications and migrant factors (e.g. being born in NZ or arriving in NZ within five years). Overall, 11% of workers responded that they had experienced with work-related stress in the last 12 months. Work-related stress was more statistically prevalent among people from 25 to 34 years of age or those having a bachelor’s degree. Also, people being females or Maori or not born in NZ or first arrived in NZ in the last five years were more likely to have work-related stress. Findings from the study could allow better targeted and informed psychosocial health interventions to be implemented at workplace.

June–September 2018

2019 ◽  
Vol 21 (1) ◽  
pp. 72-78
Author(s):  
Frank Cranmer
Keyword(s):  
Annual Income ◽  
England And Wales ◽  
Church Congregations ◽  
Charity Commission ◽  
On Line ◽  
Mail Address ◽  
E Mail ◽  
Do So

The Charity Commission for England and Wales published an updated list of the questions to be included in the 2018 Annual Return for registered charities. The trustees of charities excepted from registration with the Commission – which include a considerable number of church congregations – are not required to submit an annual return; but an increasing number find that they must do so because when an excepted charity's annual income exceeds £100,000 it loses its excepted status. The previously expressed intention to require every charity trustee to provide an e-mail address has been abandoned; instead, the Commission intends to ask all trustees either to supply an e-mail address or to confirm that they do not have one – which looks very like a welcome climbdown. The Commission's on-line Annual Return Service opened for submissions on 20 August.

Uncharted waters: Investors get access to foreign exchange-traded funds

2021 ◽  
pp. 54-70
Author(s):  
S. R. Moiseev
Keyword(s):  
Financial Markets ◽  
Foreign Exchange ◽  
Driving Forces ◽  
Market Competition ◽  
Secondary Market ◽  
Portfolio Diversification ◽  
Exchange Traded Funds ◽  
Investment Funds ◽  
Retail Investors ◽  
Securities Trading

In 2022, Russian investors will get access to the wide possibilities of the global financial market. The Bank of Russia opens the market for foreign exchange-traded funds (ETFs) — one of the main savings instruments for households. The economy of ETFs differs from other investment funds, whose shares do not have secondary market. The opening of the ETFs market is intended to solve a number of issues for retail investors: moving away from the preference to individual foreign shares towards portfolio diversification, cost reduction, ensuring sustainable profitability, abandoning the aggressive securities trading, and supporting market competition. Soon, ETFs will be one of the driving forces in financial markets. However, their rapid growth is fraught with little-studied effects.

Flow Control by Pulso Width Modulation

1972 ◽  
Vol 5 (4) ◽  
pp. 142-146
Author(s):  
M S Beck ◽  
N E Gough ◽  
J N Smithies
Keyword(s):  
Cross Correlation ◽  
Pulse Width Modulation ◽  
Correlation Method ◽  
Temperature Fluctuations ◽  
Flow Rates ◽  
Start Up ◽  
On Line ◽  
Measured Flow ◽  
Novel Method ◽  
Modulation Control

A novel method of controlling the flow rates of fluids has been devised which is particularly suitable for highly erosive fluids and slurries. The width of pulses in a pulse train actuating an on-off valve is modulated according to the error between the desired and measured flow rates and thus the ratio of the total times the valve spends in its ‘on’ and ‘off’ states is varied. The method has been tested with an on-line computer which was used to measure the flow rate of water by a cross-correlation method to determine the transit time of temperature fluctuations between two thermocouples in the pipe, and to implement the pulse width modulation control. Satisfactory results have been obtained for start-up, set-point changes and load disturbances for flow rates in the turbulent region (Re > 3 600). Future development includes the use of a fluidic diverter as the on-off device.

Optimising echocardiographic screening for rheumatic heart disease in New Zealand: not all valve disease is rheumatic

2011 ◽  
Vol 21 (4) ◽  
pp. 436-443 ◽  
Author(s):  
Rachel H. Webb ◽  
Nigel J. Wilson ◽  
Diana R. Lennon ◽  
Elizabeth M. Wilson ◽  
Ross W. Nicholson ◽  
...  
Keyword(s):  
Heart Disease ◽  
New Zealand ◽  
High Risk ◽  
Mitral Valve ◽  
Rheumatic Heart Disease ◽  
Secondary Prophylaxis ◽  
Accurate Diagnosis ◽  
High Risk Population ◽  
Step Model ◽  
Rheumatic Heart

AbstractAimsEchocardiography detects a greater prevalence of rheumatic heart disease than heart auscultation. Echocardiographic screening for rheumatic heart disease combined with secondary prophylaxis may potentially prevent severe rheumatic heart disease in high-risk populations. We aimed to determine the prevalence of rheumatic heart disease in children from an urban New Zealand population at high risk for acute rheumatic fever.Methods and resultsTo optimise accurate diagnosis of rheumatic heart disease, we utilised a two-step model. Portable echocardiography was conducted on 1142 predominantly Māori and Pacific children aged 10–13 years. Children with an abnormal screening echocardiogram underwent clinical assessment by a paediatric cardiologist together with hospital-based echocardiography. Rheumatic heart disease was then classified asdefinite, probable, orpossible. Portable echocardiography identified changes suggestive of rheumatic heart disease in 95 (8.3%) of 1142 children, which reduced to 59 (5.2%) after cardiology assessment. The prevalence ofdefiniteandprobablerheumatic heart disease was 26.0 of 1000, with 95% confidence intervals ranging from 12.6 to 39.4. Portable echocardiography overdiagnosed rheumatic heart disease with physiological valve regurgitation diagnosed in 28 children. A total of 30 children (2.6%) had non-rheumatic cardiac abnormalities, 11 of whom had minor congenital mitral valve anomalies.ConclusionsWe found high rates of undetected rheumatic heart disease in this high-risk population. Rheumatic heart disease screening has resource implications with cardiology evaluation required for accurate diagnosis. Echocardiographic screening for rheumatic heart disease may overdiagnose rheumatic heart disease unless congenital mitral valve anomalies and physiological regurgitation are excluded.

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