Construction of a portfolio with shorter downside tail and longer upside tail

The purpose of this paper is to propose an algorithm for solving Rachev ratio optimization problem which is intended to construct a portfolio with shorter downside tail and longer upside tail. Moreover, we propose modified Rachev ratio to remove the theoretical flaw of Rachev ratio. Also, we will compare several portfolio models using the market data in Tokyo Stock Exchange. We believe that this paper is of interest to researchers and practitioners in the field of portfolio optimization.     

Low-temperature heat capacity of heptacopper(II) complex [Cu7(μ3-Cl)2(μ3-OH)6-(d-pen-disulfide)3]

A single crystal calorimetry of a heptacopper(II) complex of [Cu₇(μ₃-Cl)₂(μ₃-OH)₆-(d-pen-disulfide)₃] which has a double-cubane structure supported by d-penicillaminedisulfides has been performed at low-temperature region below 8 K. This compound is a metal complex which contains seven Cu(II)s in a cluster unit. These Cu(II)s are magnetically coupled each other by strong intra-complex interactions. The heat capacities under magnetic fields exhibit Schottky type anomalies explained by the Zeeman splitting of the doublet ground state of the complex. The g-value of the ground state is evaluated as 1.86 from the systematic analysis of the Schottky peak under magnetic fields. The first excited state of the cluster seems to be separated at least by several Kelvins, which is consistent with the theoretical calculations and magnetic susceptibility results.     

Synthesis and properties of novel fluorinated subnaphthalocyanines for organic photovoltaic cells

Novel fluorinated subnaphthalocyanine derivatives were newly designed and synthesized as donor materials for low molecular organic photovoltaic cells using fullerene as an acceptor. They were designed to have the low-lying HOMO energy levels for improvement of open circuit voltage without any expense of short-circuit current density. The HOMO/LUMO energy levels of hexafluoro-, heptafluoro-, dodecafluoro-, tridecafluoro- and the parent subnaphthalocyanine estimated based on the photoelectron spectroscopy were −5.69/−3.93, −5.67/−3.90, −5.96/−4.19, −5.92/−4.11 and −5.30/−3.58 eV, respectively, showing that frontier orbital energy levels can be effectively tuned by fluorination.     

Problems in polarized light microscopy observation of birefringence of calcium pyrophosphate dihydrate crystals

To reconsider the problems arising from the use of the phase plate as a test plate inserted into a polarized light microscope system for the analysis of triclinic calcium pyrophosphate dihydrate (t-CPPD) crystals, or Ca₂P₂O₇·2H₂O in the synovial fluid of arthritis patients, we made the polarized light microscopy observations using a phase plate with a retardation of 530 nm for the synthesized t-CPPD crystals well-characterized by X-ray powder pattern indexing and single crystal X-ray diffraction measurements. The microscopy observations were made of crystals of different sizes, thicknesses and shapes. The retardation was assessed using the interference color chart at four extinction and diagonal positions both with and without the test plate. The addition and subtraction states produced by superimposing the retardations of two anisotropic materials, that is, the t-CPPD crystal and the 530 nm phase plate, were deduced from the interference color change by inserting the test plate at four diagonal positions. When the color change of a crystal at a diagonal position resulting from 90-degree rotation exhibits no clear birefringence, the interference color chart was shown to be useless. We suggested the use of a compensator whose retardation can be changed to obtain an accurate value for the retardation of the crystal.     

Transport property characterization of sparse CNT networks via AFM images

A simulation method for correlating the resistivity and resistance of sparse carbon nanotube (CNT) networks via atomic force microscopy images was proposed. For the demonstration, resistance values simulated by this method were compared with values obtained by directory measuring the resistance of sparse CNT networks. Results were also compared with those obtained by a thin-film approximation in which CNT networks are approximated as thin rectangles. Simulated resistance values were closer to the experimental values of the same samples than those estimated on the basis of the thin-film approximation. The use of atomic force microscopy (AFM) images enabled the implementation of inhomogeneity to numerical models, as well as one-to-one comparison between real samples and numerical models.     

The relationship between the drug concentration profiles in plasma and the drug doses in the colon

After the dosing of an extended-release (ER) formulation, compounds may exist in solutions at various concentrations in the colon because the drugs are released at various speeds from the ER dosage form. The aim of this study was to investigate the relationship between the drug concentration profiles in plasma and the drug doses in the colon. Several drug solutions of different concentrations were directly administered into the ascending colon of dogs using a lubricated endoscope, and the effects of the drug dose on colonic absorption were estimated. As a result, dose-dependency of colonic absorption varied from compound to compound. Although the relative bioavailability of colonic administration of diclofenac, metformin and cevimeline compared to oral administration was similar regardless of the drug doses in the colon, colonic absorption of diltiazem varied according to the doses. From the results of the co-administration of verapamil and fexofenadine, it was clear that diltiazem underwent extensive hepatic and gastrointestinal first-pass metabolism, resulting in a low area under the curves (AUC) at a low drug dose. During the design of oral ER delivery systems, a colonic absorption study of candidate compounds should be carried out at several solutions of different drug concentrations and assessed carefully.     

Facile synthesis of glycerol carbonate from glycerol using selenium‐catalyzed carbonylation with carbon monoxide

The commercial production of glycerol has increased considerably for several years, because of its rising inevitable formation as a by‐product of biodiesel. For the effective utilization of glycerol, a new synthesis of glycerol carbonate (4‐hydroxymethyl‐2‐oxo‐1,3‐dioxolane) that is used as solvents and raw material of plastics from glycerol was explored. By combined the selenium‐catalyzed carbonylation of slightly excess of glycerol with carbon monoxide and potassium carbonate under 0.1 MPa at 20°C for 4 h in DMF with the oxidation of resulting selenocarbonate salt with molecular oxygen (0.1 MPa, 20 °C) for 2 h, glycerol carbonate was obtained in good yields (83–84%). However, sodium hydride to form sodium alkoxide in situ lowered the yield of glycerol carbonate. Use of triethylamine, 1‐methylpyrrolidine, and DBU as bases gave poor results. Furthermore, styrene carbonate was obtained in excellent yield (90%) under similar reaction conditions. The catalytic synthesis of glycerol carbonate was also brought about in the mixed gas atmosphere (carbon monoxide:oxygen = 3:1, 0.1 MPa, 20°C). Glycerol carbonate and styrene carbonate were obtained in reasonable yields (197% and 119%, based on selenium used). © 2010 Wiley Periodicals, Inc. Heteroatom Chem 21:541–545, 2010; View this article online at wileyonlinelibrary.com . DOI 10.1002/hc.20640     

Incorporation of nonionic emulsifiers inside particles in emulsion polymerization: mechanism and methods of suppression

Emulsion polymerizations of styrene were carried out using two kinds of polyoxyethylene lauryl ether nonionic emulsifiers having different hydrophilic-lipophilic balances (HLB): Emulgen 109P (HLB 13.6); and Emulgen 150 (HLB 18.3). In both cases, incorporation of emulsifier inside polystyrene (PS) particles was clearly observed, as previously reported for the emulsion polymerization of styrene and methacrylic acid using polyoxyethylene nonyl phenyl ether (Emulgen 911, HLB 13.7) nonionic emulsifier. The generality of the incorporation phenomenon of nonionic emulsifier inside polymer particles in emulsion polymerization was clarified. In the case of Emulgen 109P, which is more hydrophobic than Emulgen 150, about 30% of the total amount was incorporated inside the PS particles, higher than for Emulgen 150 (15%). The difference seemed to be ascribed to the difference in the affinities between the nonionic emulsifiers and styrene, which cause the incorporation of emulsifier. On the basis of this idea, suppression of the incorporation was achieved by decreasing the polymerization temperature and the monomer-feed rate. This strongly supports the proposed incorporation mechanism.