The Herd Behavior Index: A new measure for the implied degree of co-movement in stock markets

We introduce a new and easy-to-calculate measure for the expected degree of herd behavior or co-movement between stock prices. This forward looking measure is model-independent and based on observed option data. It is baptized the Herd Behavior Index (HIX).The degree of co-movement in a stock market can be determined by comparing the observed market situation with the extreme (theoretical) situation under which the whole system is driven by a single factor. The HIX is then defined as the ratio of an option-based estimate of the risk-neutral variance of the market index and an option-based estimate of the corresponding variance in case of the extreme single factor market situation.The HIX can be determined for any market index provided an appropriate series of vanilla options is traded on this index as well as on its components. As an illustration, we determine historical values of the 30-days HIX for the Dow Jones Industrial Average, covering the period January 2003 to October 2009.     

Eigenvalues and eigenfunctions of discontinuous Sturm--Liouville problems with eigenparameter-dependent boundary conditions

We extend some fundamental spectral properties of classic regular Sturm--Liouville problems to discontinuous boundary-value problems with eigenvalue-dependent boundary conditions. We suggest a new approach for investigation of such type discontinuous problems.     

〈331〉晶向ZnTe单晶的太赫兹辐射-探测性能理论研究

根据光整流效应辐射太赫兹理论,计算了〈331〉晶向ZnTe单晶的太赫兹辐射性能.通过与〈110〉、〈111〉晶向对比,当晶体方位角为0°或180°时,利用〈331〉晶向ZnTe单晶辐射太赫兹信号可以与〈111〉晶向相当,强于〈110〉晶向.利用电光取样原理,计算了〈331〉晶向ZnTe单晶的太赫兹探测性能,通过理论计算为〈331〉晶向ZnTe 晶体有效辐射太赫兹波提供理论依据.     

A green and simple method for the synthesis of 2,4,5-trisubstituted-1H-imidazole derivatives using acidic ionic liquid as an effective and recyclable catalyst under ultrasound

Research on Chemical Intermediates - In the current work, an acidic ionic liquid ([{(IMC)-4-OMBH}BIM][HSO4]3) has been utilized as an effective and recyclable catalyst for the synthesis of...     

Equivalent moduli of continuity, Bloch’s theorem for pluriharmonic mappings in mathbb{B}{kern-8pt}mathbb{B}^{boldsymbol n}

In this paper, we first establish a Schwarz?CPick type theorem for pluriharmonic mappings and then we apply it to discuss the equivalent norms on Lipschitz-type spaces. Finally, we obtain several Landau??s and Bloch??s type theorems for pluriharmonic mappings.     

Effect of Al mole fraction on structural and electrical properties of AlxGa1−xN/GaN heterostructures grown by plasma-assisted molecular beam epitaxy

The effect of Al mole fractions on the structural and electrical properties of Al_xGa_1−xN/GaN thin films grown by plasma-assisted molecular beam epitaxy (PA-MBE) on Si (1 1 1) substrates has been investigated by X-ray diffraction (XRD), scanning electron microscopy (SEM), atomic force microscopy (AFM), and current-voltage (I-V) measurements. X-ray results revealed that the AlGaN/GaN/AlN was epitaxially grown on Si substrate. By applying Vegard's law, the Al mole fractions of Al_xGa_1−xN samples were found to be 0.11, 0.24, 0.30 and 0.43, respectively. The structural and morphology results indicated that there is a relatively larger tensile strain for the sample with the smallest Al mole fraction; while a smaller compressive strain and larger grain size appear with Al mole fraction equal to 0.30. The strain gets relaxed with the highest Al mole fraction sample. Finally, the linear relationship between the barrier height and Al mole fraction was obtained.     

Application of the revised EU criteria for the confirmation of anabolic steroids in meat using GC-MS

The EU criteria for the confirmation of the presence of illegal compounds in biological matrices were recently revised. The old and the revised criteria were applied to relative ion intensities obtained for five anabolic steroids (methylboldenone, methyltestosterone, ethynylestradiol, -boldenone and -nortestosterone) in meat (cow, pig, turkey) and fish at concentrations ranging from 0.5 to 5.0 g/kg. Confirmatory analysis was done by GC-MS; therefore four diagnostic ions had to be monitored and three ion ratios had to be calculated and tested against the criteria. Application of the old and revised criteria, with either standards or fortified samples as reference, showed mutually rather divergent results. Confirmation according to the revised EU criteria and using fortified samples as a reference gave the best results; in other words the highest percentage of diagnostic ion ratios within the tolerance intervals. A correlation was found between the percentage of these ion ratios and the signal/noise (S/N) ratio of the least intense ion of interest in the recorded MS spectrum. Although there were distinct differences in the results obtained for different analytes and sample types, it is safe to conclude that at S/N=3 the percentage of ratios within the tolerance intervals generally will be at or below 50%, while for S/N10, the percentage increases to over 90%. In the present study, fully satisfactory results were obtained down to about 2 g/kg, but not for lower analyte concentrations.     

β-Eucryptite by a Sol-Gel Route

-Eucryptite solid solution (LAS) Li2O : Al 2O3 : 3SiO2(113) was prepared via a sol-gel route. Complex solutions of lithium or aluminum salts in ethanol/water mixtures were catalysed by inorganic acids (catalyst/alkoxide ratio 0.1). Different ratios of H2SO4 catalyst were also used.TGA showed that the maximum % yield of LAS 113 occurred using H2SO4 catalyst. Above 400°C exothermic peaks occurred in DSC followed by the glass transition. XRD and IR showed a high crystallinity of -eucryptite solid solution using all acids at the 0.1 ratio with the highest crystallinity for the 0.05 H2SO4 ratio. SEM revealed similar grain sizes in spite of higher acid concentrations. XRD data indicated a change to a tetragonal modification with higher catalyst ratio.     

A comparison of glassy-carbon and carbon-polymer composite electrodes incorporated into electrochemical detection systems for high-performance liquid chromatography

A comparison has been made of the performance of a novel composite carbon-polymer electrode and a glassy-carbon electrode for use as working electrodes in an electrochemical detector for HPLC. The composite electrode was found to be comparable to the glassy-carbon electrode in terms of current response, superior in terms of cost, machinability, noise levels, stabilization time and accessible potential range, and inferior in terms of the potentials required for the oxidation of certain model compounds such as epinephrine and norepinephrine.