Asymmetric responses of international stock markets to trading volume

The major goal of this paper is to examine the hypothesis that stock returns and return volatility are asymmetric, threshold nonlinear, functions of change in trading volume. A minor goal is to examine whether return spillover effects also display such asymmetry. Employing a double-threshold GARCH model with trading volume as a threshold variable, we find strong evidence supporting this hypothesis in five international market return series. Asymmetric causality tests lend further support to our trading volume threshold model and conclusions. Specifically, an increase in volume is positively associated, while decreasing volume is negatively associated, with the major price index in four of the five markets. The volatility of each series also displays an asymmetric reaction, four of the markets display higher volatility following increases in trading volume. Using posterior odds ratio, the proposed threshold model is strongly favored in three of the five markets, compared to a US news double threshold GARCH model and a symmetric GARCH model. We also find significant nonlinear asymmetric return spillover effects from the US market.     

Analysis of a type of nonsmooth dynamical systems

In this paper, a class of nonsmooth dynamical systems is analyzed. Extensive simulations reveal the chaotic behavior in these systems. By introducing a parameter, a chain of systems with one end being a linear stable system and the other being a chaotic system is constructed. Then the phase transition process through the chain is investigated as the parameter varies. Difficulties involved in analyzing this class of systems are also discussed.     

Annealing behavior of gel‐spun polyethylene fibers at temperatures lower than needed for significant shrinkage

The annealing at 373 K of ultrastrong, gel‐spun polyethylene (PE) has been studied. At this temperature, the fibers show no significant shrinkage. Still, a significant decrease in the mechanical properties is observed. The fibers have been analyzed with differential scanning calorimetry (DSC), temperature‐modulated differential scanning calorimetry (TMDSC), atomic force microscopy (AFM), and small‐angle X‐ray scattering (SAXS). During the annealing, the glass transition of the intermediate phase is exceeded, as shown by DSC. When split for structure analysis by AFM, the annealed fibers undergo plastic deformation around the base fibrils instead of brittle fracture. The quasi‐isothermal TMDSC experiments are compared to the minor structural changes seen with SAXS and AFM. The loss of performance of the PE fibers at 373 K is suggested to be caused by the oriented intermediate phase, and not by major changes in the structure or morphology. The overall metastable, semicrystalline structure is shown by TMDSC to posses local regions that can melt reversibly. © 2003 Wiley Periodicals, Inc. J Polym Sci Part B: Polym Phys 41: 403–417, 2003     

局部有限超拓扑的局部紧性

本文讨论了赋予局部有限拓扑的非空闲子集超空间的局部紧性.主要结果是:X正则,则其闭子集超空间局部紧当且仅当X可表示成一个紧空间与一个离散空间的拓扑和.     

用迈克耳逊干涉仪测量气体折射率的误差的研究

研究在用迈克尔逊干涉仪测量气体折射率时存在的系统和方法误差，提出了误差修正方法。     

关于高阶中立型偏微分方程系统解的振动性

近年来,由于偏泛函微分方程(组)理论在人口动力学,生物遗传工程和化学反应过程等领域中有广泛的应用,因而很多学者在偏泛函微分方程(组)解的振动性理论的研究方面做了大量工作,取得了许多成果.本文将研究一类较广泛的高阶中立型偏微分方程组     

直径不超过4的树的割宽

§ 1　IntroductionThe cutwidth problem for graphs,as well as a class of optimal labeling and embed-ding problems,have significant applications in VLSI designs,network communicationsand other areas (see [2 ] ) .We shall follow the graph-theoretic terminology and notation of [1 ] .Let G=(V,E)be a simple graph with vertex set V,| V| =n,and edge set E.A labeling of G is a bijec-tion f:V→ { 1 ,2 ,...,n} ,which can by regarded as an embedding of G into a path Pn.Fora given labeling f of G,th…     

Liminf results on the increments of an (N,d)-Gaussian process

We establish some liminf theorems on the increments of a (N,d)-Gaussian process with the usual Euclidean norm, via estimating upper bounds of large deviation probabilities on the suprema of the (N,d)-Gaussian process. This revised version was published online in June 2006 with corrections to the Cover Date.     

Study of the pulsed laser vapor doping of Si(1 0 0) with KrF excimer laser and BCl3 gas

The properties of pulsed laser vapor doping on p-Si(1 0 0) with a KrF (248 nm) excimer pulsed laser (248 nm) and BCl₃ gas are reported in this paper. The doped samples are characterized by the resistance measured using a four-probe method, since the sheet resistance changes with the carrier concentration of the sample. The doping effects with the variation of laser energy density, pulse number, and the pressure of BCl₃ were investigated in terms of the sheet resistance. In this way, the optimized parameters were obtained and used for the positive heavy doping on p-Si(1 0 0) and p-Si(1 1 1). Then, using a square mesh under the above conditions, an image doping was completed. Finally, the metal–semiconductor Ohmic contacts were realized by plating Ag and Cu films on the doped surface.     

Peritectic phase growth in directionally solidified Cu-70% Sn alloy

The growth mechanism of the peritectic η phase involving the peritectic reaction and peritectic transformation in Cu-70%Sn alloy was investigated under directional solidification. The results show that a major growth mechanism in thickening of the peritectic η-layer is not the peritectic reaction but the peritectic transformation. The transformation temperature and isothermal time play crucial roles in determining the volume fraction and the thickness of the peritectic η phase. With the increase of the temperature and isothermal time, the volume fraction of the peritectic η phase increases. The regressed data show that the relationship between the thickness of η phase (Δx) and the transformation temperature (T) meets the following equation In Δx=6.5−1673 1 / T. Additionally, there exists a relationship between the thickness of the η phase (Δx) and the isothermal time (t) at the 9 mm solidification distance below the peritectic reaction interface, Δx=0.72t ^1/2, which is consistent with the theoretical model. Supported by the National Science Foundation of China (Grant No. 50395102)