A quantile-based Time at Risk: A new approach for assessing risk in financial markets

In this paper, we provide a new measure for evaluation of risk in financial markets. This measure is based on the return interval of critical events in financial markets or other investment situations. Our main goal was to devise a model like Value at Risk (VaR). As VaR, for a given financial asset, probability level and time horizon, gives a critical value such that the likelihood of loss on the asset over the time horizon exceeds this value is equal to the given probability level, our concept of Time at Risk (TaR), using a probability distribution function of return intervals, provides a critical time such that the probability that the return interval of a critical event exceeds this time equals the given probability level. As an empirical application, we applied our model to data from the Tehran Stock Exchange Price Index (TEPIX) as a financial asset (market portfolio) and reported the results.     

Carbon dots with strong excitation-dependent fluorescence changes towards pH. Application as nanosensors for a broad range of pH

In this study, preparation of novel pH-sensitive N-doped carbon dots (NCDs) using glucose and urea is reported. The prepared NCDs present strong excitation-dependent fluorescence changes towards the pH that is a new behavior from these nanomaterials. By taking advantage of this unique behavior, two separated ratiometric pH sensors using emission spectra of the NCDs for both acidic (pH 2.0 to 8.0) and basic (pH 7.0 to 14.0) ranges of pH are constructed. Additionally, by considering the entire Excitation–Emission Matrix (EEM) of NCDs as analytical signal and using a suitable multivariate calibration method, a broad range of pH from 2.0 to 14.0 was well calibrated. The multivariate calibration method was independent from the concentration of NCDs and resulted in a very low average prediction error of 0.067 pH units. No changes in the predicted pH under UV irradiation (for 3 h) and at high ionic strength (up to 2 M NaCl) indicated the high stability of this pH nanosensor. The practicality of this pH nanosensor for pH determination in real water samples was validated with good accuracy and repeatability.     

Cobalt titanate–cobalt oxide composite thin films deposited from heterobimetallic precursor

A single molecular heterobimetallic complex, [Co₂Ti(μ₃‐O)(TFA)₆(THF)₃] (1) [TFA = trifluoroacetate, THF = tetrahydrofuran], was synthesized, structurally and spectroscopically characterized and implemented as a single‐source precursor for the preparation of CoTiO₃–CoO composite thin films by aerosol‐assisted chemical vapour deposition (AACVD). The precursor complex was prepared by interaction of Co(OAc)₂.4H₂O [OAc = (CH₃COO^?)] with Ti(iso‐propoxide)₄ in the presence of trifluoroacetic acid in THF, and was analysed by melting point, CHN, FT‐IR, single‐crystal X‐ray diffraction and thermogravimetric analysis. The precursor complex thermally decomposed at 480 °C to give a residual mass corresponding to a CoTiO₃–CoO composite material. Good‐quality crystalline CoTiO₃–CoO composite thin films deposited at 500 °C by AACVD and characterized through powder X‐ray diffraction and scanning electron microscopy/energy‐dispersive X‐ray spectroscopy show that the crystallites have a rose‐flower‐like morphology with an average petal size in the range of 2–6 µm. Copyright © 2012 John Wiley & Sons, Ltd.