Abstract: This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.
Abstract: Traditionally in sensor networks and recently in the
Internet of Things, numerous heterogeneous sensors are deployed
in distributed manner to monitor a phenomenon that often can be
model by an underlying stochastic process. The big time-series
data collected by the sensors must be analyzed to detect change
in the stochastic process as quickly as possible with tolerable
false alarm rate. However, sensors may have different accuracy
and sensitivity range, and they decay along time. As a result,
the big time-series data collected by the sensors will contain
uncertainties and sometimes they are conflicting. In this study, we
present a framework to take advantage of Evidence Theory (a.k.a.
Dempster-Shafer and Dezert-Smarandache Theories) capabilities of
representing and managing uncertainty and conflict to fast change
detection and effectively deal with complementary hypotheses.
Specifically, Kullback-Leibler divergence is used as the similarity
metric to calculate the distances between the estimated current
distribution with the pre- and post-change distributions. Then mass
functions are calculated and related combination rules are applied to
combine the mass values among all sensors. Furthermore, we applied
the method to estimate the minimum number of sensors needed to
combine, so computational efficiency could be improved. Cumulative
sum test is then applied on the ratio of pignistic probability to detect
and declare the change for decision making purpose. Simulation
results using both synthetic data and real data from experimental
setup demonstrate the effectiveness of the presented schemes.
Abstract: Strengthening core competitiveness is the main goal of enterprises in a fierce competitive environment. Accurate cost information is a great help for managers in dealing with operation strategies. This paper establishes a profitability management mechanism that applies the Activity-Based Benefit approach (ABBA) to solve the profitability for each customer from the market. ABBA provides financial and non-financial information for the operation, but also indicates what resources have expired in the operational process. The customer profit management model shows the level of profitability of each customer for the company. The empirical data were gathered from a case company operating in the leather industry in Taiwan. The research findings indicate that 30% of customers create little profit for the company as a result of asking for over 5% of sales discounts. Those customers ask for sales discount because of color differences of leather products. This paper provides a customer’s profitability evaluation mechanism to help enterprises to greatly improve operating effectiveness and promote operational activity efficiency and overall operation profitability.
Abstract: The main objective of this research was to study the differences of aluminum hydrolytic products between two PACl preparation methods. These two methods were the acidification process of freshly formed amorphous Al(OH)3 and the conventional alkalization process of aluminum chloride solution. According to Ferron test and 27Al NMR analysis of those two PACl preparation procedures, the reaction rate constant (k) values and Al13 percentage of acid addition process at high basicity value were both lower than those values of the alkaline addition process. The results showed that the molecular structure and size distribution of the aluminum species in both preparing methods were suspected to be significantly different at high basicity value.
Abstract: Currently, resource sharing and system security are
critical issues. This paper proposes a POL module composed of
PRIV ILEGE attribute (PA), obligation and log which improves
attribute based access control (ABAC) model in dynamically granting
authorizations and revoking authorizations. The following describes
the new model termed PABAC in terms of the POL module
structure, attribute definitions, policy formulation and authorization
architecture, which demonstrate the advantages of it. The POL
module addresses the problems which are not predicted before and
not described by access control policy. It can be one of the subject
attributes or resource attributes according to the practical application,
which enhances the flexibility of the model compared with ABAC.
A scenario that illustrates how this model is applied to the real world
is provided.
Abstract: Ultimatum game is an experimental paradigm to study human decision making. There are two players, a proposer and a responder, to split a fixed amount of money. According to the traditional economic theory on ultimatum game, proposer should propose the selfish offers to responder as much as possible to maximize proposer’s own outcomes. However, most evidences had showed that people chose more fair offers, hence two hypotheses – fairness favoring and strategic concern were proposed. In current study, we induced the motivation in participants to be either selfish or altruistic, and manipulated the task variables, the stake sizes (NT$100, 1000, 10000) and the share sizes (the 40%, 30%, 20%, 10% of the sum as selfish offers, and the 60%, 70%, 80%, 90% of the sum as altruistic offers), to examine the two hypotheses. The results showed that most proposers chose more fair offers with longer reaction times (RTs) no matter in choosing between the fair and selfish offers, or between the fair and altruistic offers. However, the proposers received explicit self-interest instruction chose more selfish offers accompanied with longer RTs in choosing between the fair and selfish offers. Therefore, the results supported the strategic concern hypothesis that previous proposers choosing the fair offers might be resulted from the fear of rejection by responders. Proposers would become more self-interest if the fear of being rejected is eliminated.
Abstract: Polypropylene (PP) is one of the most commonly used plastics because of its low density, outstanding mechanical properties, and low cost. However, its drawbacks such as low surface energy, poor dyeability, lack of chemical functionalities, and poor compatibility with polar polymers and inorganic materials, have restricted the application of PP. To expand its application in biomedical materials, functionalization is considered to be the most effective way. In this study, PP was functionalized with a chiral monomer, (S)-1-acryloylpyrrolidine-2-carboxylic acid ((S)-APCA), by free-radical grafting in the solid phase. The grafting degree of PP-g-APCA was determined by chemical titration method, and the chemical structure of functionalized PP was characterized by FTIR spectroscopy, which confirmed that the chiral monomer (S)-APCA was successfully grafted onto PP. Static water contact angle results suggested that the surface hydrophilicity of PP was significantly improved by solid phase grafting and assistance of surface water treatment. Protein adsorption and platelet adhesion results showed that hemocompatibility of PP was greatly improved by grafting the chiral monomer.
Abstract: Objective: Biliary atresia (BA) is characterized by progressive liver fibrosis. Epithelial-mesenchymal transition (EMT) has been implicated as a key mechanism in the pathogenesis of organ fibrosis. MiR-200a has been shown to repress EMT. We aim to explore the role of miR-200a in the fibrogenesis of BA. Methods: We obtained the plasma samples and liver samples from patients with BA or controls to examine the role of miR-200a. Histological liver fibrosis was assessed using the Ishak fibrosis scores. Reverse transcription quantitative polymerase chain reaction (RT-qPCR) was performed to detect the expression of miR-200a in plasma. We also evaluated the expression of miR-200a in liver tissues using tyramide signal amplification fluorescence in situ hybridization (TSA-FISH). The expression of EMT related proteins zinc finger E-box-binding homeobox 1 (ZEB1), E-cadherin and α-smooth muscle actin (α-SMA) in the liver sections were detected by immunohistochemical staining. Results: We found that the expression of miR-200a was both elevated in the plasma and liver tissues from BA patients compared with the controls. The hepatic expression of ZEB1 and α-SMA were markedly increased in the liver sections from BA patients compared to the controls, whereas E-cadherin was downregulated in the BA group. Simultaneously, we noted that the hepatic expression of miR-200a, E-cadherin and α-SMA were upregulated with the progression of liver fibrosis in the BA group, while ZEB1 was downregulated with the progression of liver fibrosis in BA patients. Conclusion: These findings suggest EMT has a critical effect on the fibrotic process of BA, and the interaction between miR-200a and ZEB1 may regulate EMT and eventually influence liver fibrogenesis of BA.
Abstract: Radio interference is one of the major concerns in
using the global positioning system (GPS) for civilian and military
applications. Interference signals are produced not only through
all electronic systems but also illegal jammers. Among different
types of interferences, continuous wave (CW) interference has strong
adverse impacts on the quality of the received signal. In this paper,
we make more detailed analysis for CW interference effects on
GPS signal quality. Based on the C/A code spectrum lines, the
influence of CW interference on the acquisition performance of
GPS receivers is further analysed. This influence is supported by
simulation results using GPS software receiver. As the most important
user parameter of GPS receivers, the mathematical expression of bit
error probability is also derived in the presence of CW interference,
and the expression is consistent with the Monte Carlo simulation
results. The research on CW interference provides some theoretical
gist and new thoughts on monitoring the radio noise environment and
improving the anti-jamming ability of GPS receivers.
Abstract: An attempt is made here to measure the forces of three directions, under conditions of different feed speeds, different tilt angles of tool and without or with the pin on the tool, by using octagonal ring dynamometer in the AA2024 aluminum FSJ (Friction Stir Joining) process, and investigate how four main factors influence forces in the FSJ process. It is found that, high feed speed lead to small feed force and small lateral force, but high feed speed leads to large feed force in the stable joining stage of process. As the rotational speed increasing, the time of axial force drop from the maximum to the minimum required increased in the push-up process. In the stable joining stage, the rotational speed has little effect on the feed force; large rotational speed leads to small lateral force and axial force. The maximum axial force increases as the tilt angle of tool increases at the downward movement stage. At the moment of start feeding, as tilt angle of tool increases, the amplitudes of the axial force increasing become large. In the stable joining stage, with the increase of tilt angle of tool, the axial force is increased, the lateral force is decreased, and the feed force almost unchanged. The tool with pin will decrease axial force in the downward movement stage. The feed force and lateral force will increase, but the axial force will reduced in the stable joining stage by using the tool with pin compare to by using the tool without pin.
Abstract: A bridgeless boost (BLB) power factor correction (PFC) rectifier with hold-up time extension circuit is proposed in this paper. A full bridge rectifier is widely used in the front end of the ac/dc converter. Since the shortcomings of the full bridge rectifier, the bridgeless rectifier is developed. A BLB rectifier topology is utilized with the hold-up time extension circuit. Unlike the traditional hold-up time extension circuit, the proposed extension scheme uses fewer active switches to achieve a longer hold-up time. Simulation results are presented to verify the converter performance.
Abstract: For electrocardiogram (ECG) biometrics system, it is a tedious process to pre-install user’s high-intensity heart rate (HR) templates in ECG biometric systems. Based on only resting enrollment templates, it is a challenge to identify human by using ECG with the high-intensity HR caused from exercises and stress. This research provides a heartbeat segment method with slope-oriented neural networks against the ECG morphology changes due to high intensity HRs. The method has overall system accuracy at 97.73% which includes six levels of HR intensities. A cumulative match characteristic curve is also used to compare with other traditional ECG biometric methods.
Abstract: Alumina supported PtSn catalysts with cylindrical particles were prepared and characterized by using low temperature N2 adsorption/desorption and X-ray diffraction. Low temperature N2 adsorption/desorption demonstrate that the tableting changed the texture properties of catalysts. XRD pattern indicate that the crystal structure of supports had no change after reaction. The performances over particles of PtSn/Al2O3 catalysts were investigated with regards to reaction temperature, pressure, and H2/AcOH mole ratio. After tableting, the conversion of acetic acid and selectivity of ethanol and acetyl acetate decreased. High reaction temperature and pressure can improve conversion of acetic acid. H2/AcOH mole ratio of 9.36 showed the best performance on acetic acid hydrogenation. High pressure had benefits for the selectivity of ethanol and other two parameters had no obvious effect on selectivity.
Abstract: Alumina supported platinum and tin catalysts with different loadings of Pt and Sn were prepared and characterized by low temperature N2 adsorption/desorption, H2-temperature programed reduction and CO pulse chemisorption. Pt and Sn below 1% loading were suitable for acetic acid hydrogenation. The best performance over 0.75Pt1Sn/Al2O3 can reach 87.55% conversion of acetic acid and 47.39% selectivity of ethanol. The operating conditions of acetic acid hydrogenation over 1Pt1Sn/Al2O3 were investigated. High reaction temperature can enhance the conversion of acetic acid, but it decreased total selectivity of ethanol and acetyl acetate. High pressure and low weight hourly space velocity were beneficial to both conversion of acetic acid and selectivity to ethanol.
Abstract: Human soft tissue is loaded and deformed by any
activity, an effect known as a stress-strain relationship, and is often
described by a load and tissue elongation curve. Several advances
have been made in the fields of biology and mechanics of soft human
tissue. However, there is limited information available on in vivo
tissue mechanical characteristics and behavior. Confident mechanical
properties of human soft tissue cannot be extrapolated from e.g.
animal testing. Thus, there is need for non invasive methods to
analyze mechanical characteristics of soft human tissue. In the present
study, the internal mechanical conditions of the lower limb, which
is subject to an external load, is studied by use of the finite element
method. A detailed finite element model of the lower limb is made
possible by use of MRI scans. Skin, fat, bones, fascia and muscles
are represented separately and the material properties for them are
obtained from literature. Previous studies have been shown to address
macroscopic deformation features, e.g. indentation depth, to a large
extent. However, the detail in which the internal anatomical features
have been modeled does not reveal the critical internal strains that
may induce hypoxia and/or eventual tissue damage. The results of the
present study reveals that lumped material models, i.e. averaging of
the material properties for the different constituents, does not capture
regions of critical strains in contrast to more detailed models.
Abstract: MnO2 nanowires were developed as filtration media for wastewater treatment that uniquely combines several advantages. The resulting material demonstrated strong capability to remove the pollution of heavy metal ions and organic contents in water. In addition, the manufacture process of such material is practical and economical. In this work, MnO2 nanowires were integrated with the state-of-art bio-electrochemical system for wastewater treatment, to overcome problems currently encountered with organic, inorganic, heavy metal, and microbe removal, and to minimize the unit footprint (land/space occupation) at low cost. Results showed that coupling the bio-electrochemical with MnO2 resulted in very encouraging results with higher removal efficiencies of such pollutants.
Abstract: The first pn-type carrier-induced silicon Bragg-grating filter is demonstrated. The extinction-ratio modulations are 11.5 dB and 10 dB with reverse and forward biases, respectively. 8-Gpbs data rate is achieved with a reverse bias.
Abstract: In this paper, we demonstrated a 1 × 4 silicon photonic cascaded arrayed waveguide grating, which is fabricated on a SOI wafer with a 220 nm top Si layer and a 2µm buried oxide layer. The measured on-chip transmission loss of this cascaded arrayed waveguide grating is ~ 5.6 dB, including the fiber-to-waveguide coupling loss. The adjacent crosstalk is 33.2 dB. Compared to the normal single silicon photonic arrayed waveguide grating with a crosstalk of ~ 12.5 dB, the crosstalk of this device has been dramatically increased.
Abstract: The rapid development technology and widespread
Internet make business environment changing a lot. In order to stand in
the global market and to keep subsistence, “changing” is unspoken
rule for the company’s survival. The purpose of this paper is building
up change model by using SWOT, strategy map, KPI and change
management theory. The research findings indicate that the company
needs to deal with employee’s resistance emotion firstly before
building up change model. The ways of providing performance
appraisal reward, consulting and counseling mechanisms that will
great help to achieve reducing staff negative emotions and motivate
staff’s efficiencies also. To revise strategy map, modify corporate
culture, and improve internal operational processes which is based on
change model. Through the change model, the increasing growth rate
of net income helps company to achieve the goals and be a leading
brand of precision machinery industry.
Abstract: Highly developed technology and highly competitive
global market highlight the important role of competitive advantages
and operation performances in sustainable company operation.
Activity-Based Costing (ABC) provides accurate operation cost and
operation performance information. Rich literatures provide relevant
research with cases study on Activity-Based Costing application, but
the research on cause relationship between key success factors and its
specific outcome, such as profitability or share market are few. These
relationships provide the ways to handle the key success factors to
achieve the specific outcomes for ensuring to promote the competitive
advantages and operation performances. The main purposes of this
research are exploring the key success paths by Key Success Paths
approach which will lead the ways to apply Activity-Base Costing.
The Key Success Paths is the innovative method which is exploring
the cause relationships and explaining what are the effects of key
success factors to specific outcomes of Activity-Based Costing
implementation. The cause relationships between key success factors
and successful specific outcomes are Key Success Paths (KSPs). KSPs
are the guidelines to lead the cost management strategies to achieve the
goals of competitive advantages and operation performances. The
research findings indicate that good management system design may
affect the well outcomes of Activity-Based Costing application and
achieve to outstanding competitive advantage, operating performance
and profitability as well by KSPs exploration.