A multi-stage financial hedging approach for the procurement of manufacturing materials

This paper addresses the problem of mitigating procurement risk that arises from volatile commodity prices by proposing a hedging strategy within a multi-stage time frame. The proposed multi-stage hedging strategy requires a commodity futures position to be correctly initialised and rebalanced with adequate volumes of short/long positions, so as to reduce the volatility in the total procurement cost that would otherwise be generated by varying commodity spot prices. The novelty in the approach is the introduction of the rebalancing of commodity futures position at defined intermediate stages. To obtain an efficient or near optimal multi-stage hedging strategy, a discrete-time stochastic control model (DSCM) is developed. Numerical experiments and Monte Carlo simulation are used to show that the proposed multi-stage hedging strategy compares favourably with the minimal-variance hedge and the one-stage hedge. A close-form optimal solution is also presented for the case when procurement volume and price are independent.     

First-principles study of structural stability and elastic property of pre-perovskite PbTiO3

The structural stability and the elastic properties of a novel structure of lead titanate,which is named preperovskite PbTiO₃ （PP-PTO） and is constructed with TiO₆ octahedral columns arranged in a one-dimensional manner,are investigated by using first-principles calculations.PP-PTO is energetically unstable compared with conventional perovskite phases,however it is mechanically stable.The equilibrium transition pressures for changing from preperovskite to cubic and tetragonal phases are 0.5 GPa and 1.4 GPa,respectively,with first-order characteristics.Further,the differences in elastic properties between pre-perovskite and conventional perovskite phases are discussed for the covalent bonding network,which shows a highly anisotropic character in PP-PTO.This study provides a crucial insight into the structural stabilities of PP-PTO and conventional perovskite.     

On the Role of Alkali-Metal-Like Superatom Al12P in Reduction and Conversion of Carbon Dioxide

Developing efficient catalysts for the conversion of CO₂ into fuels and value-added chemicals is of great significance to relieve the growing energy crisis and global warming. With the assistance of DFT calculations, it was found that, different from Al₁₂X (X=Be, Al, and C), the alkali-metal-like superatom Al₁₂P prefers to combine with CO₂ via a bidentate double oxygen coordination, yielding a stable Al₁₂P(η²-O₂C) complex containing an activated radical anion of CO₂ (i.e., CO₂^.−). Thereby, this compound could not only participate in the subsequent cycloaddition reaction with propylene oxide but also initiate the radical reaction with hydrogen gas to form high-value chemicals, revealing that Al₁₂P can play an important role in catalyzing these conversion reactions. Considering that Al₁₂P has been produced in laboratory and is capable of absorbing visible light to drive the activation and transformation of CO₂, it is anticipated that this work could guide the discovery of additional superatom catalysts for CO₂ transformation and open up a new research field of superatom catalysis.     

Initial Corrosion Characteristics of Enamel Coated Carbon Steel in Hot Tap Water

Russian Journal of Electrochemistry - The corrosion behavior of enamel coating on carbon steel was investigated in the tap water at 80°C (i.e., the simulated electric hot water tank...     

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??Recurrent event data usually occur in long-term studies which concern
recurrence rates of the disease. In studies of medical sciences, patients who have infected
with the disease, like cancer, were conventionally regarded as impossible to be cured. However,
with the development of medical sciences, recently those patients were found to be possibly
recovered from the disease. The recurrence rate of the events, which is of primary interest,
may be affected by the cure rate that may exist. Therefore, we proposed semiparametric
statistical analysis for recurrent event data with subjects possibly being cured. In our
approach, we present a proportional rate model for recurrence rate with the cure rate adjusted
through a Logistic regression model, and develop some estimating equations for estimation of
the regression parameters, with their large sample properties, including consistency and
asymptotic normality established. Numerical studies under different settings were conducted
for assessing the proposed methodology and the results suggest that they work well for
practical situations. The approach is applied to a bladder cancer dataset which motivated our
study.     

Arylidene Copolyether Sulfones. I. Synthesis and Characterization of Some New Copolyether Sulfones Containing Dibenzylidene Cyclopentanone Moieties

Abstract

New copolyether sulfones containing 2,5-bis(4-oxo-benzylidene)-cyclopentanone moieties were prepared in the conventional literature manner by condensing the dipotassium salts of 2,5-bis(4-hydroxyphenzyl- idene)cyclopentanone (I) and 2, 2-bis(4-hydroxyphenyl)propane (Bisphenol A, III) with 4,4′-dichlorodiphenyl sulfone (II), or by condensing the dipotassium salts of I with chlorine-terminated Bisphenol A-4,4′-di-chlorodiphenylsulfone copolymers (V). The resulting copolyether sulfones were confirmed by IR, viscometry, DSC measurements, thermooptical (TOA), and thermogravimetric analysis (TGA).     

Fabrication of Gene Carrier via Self-assembly of Poly[(dimethylamino)ethyl Methacrylate] and Poly(aspartic acid)-grafted-Poly(ethylene glycol)

A biocompatible complex has been prepared as gene carrier via electrostatic interaction, which is composed of a polycation, that is, poly[(dimethylamino)ethyl methacrylate] end-capped with cholesterol moiety (Chol-PDMAEMA₃₀), along with a polyanion named poly(aspartic acid)-grafted-poly(ethylene glycol) (PASP-g-PEG). The complexes have less cytotoxicity compared to the case of alone Chol-PDMAEMA₃₀ or branched polyethylenimine (PEI) system.

In the present study, biocompatible complexes have been prepared as gene carrier via electrostatic interaction, which is composed of a polycation, that is, poly[(dimethylamino)ethyl methacrylate] end-capped with cholesterol moiety (Chol-PDMAEMA₃₀), along with a polyanion named poly(aspartic acid)-grafted-poly(ethylene glycol) (PASP-g-PEG). We first synthesized polysuccinimide (PSI) via condensation polymerization of aspartic acid, and then used PEG-NH₂ to react with the partial pentacyclic rings of PSI to yield a kind of graft copolymer polysuccinimide-grafted-poly(ethylene glycol) (PSI-g-PEG). After hydrolysis of the residual succinimide units, a new biodegradable and biocompatible graft copolymer PASP-g-PEG was prepared successfully. Chol-PDMAEMA₃₀ was synthesized via oxyanion-initiated polymerization, as reported in our previous literature. We investigated the interactions between every pair among calf thymus DNA, Chol-PDMAEMA₃₀, and PASP-g-PEG by agarose gel retardation assay. The results indicate that the prepared complexes could completely bind DNA and may become more stable during systemic circulation. The complexes have less cytotoxicity compared to the case of alone Chol-PDMAEMA₃₀ or branched polyethylenimine (PEI) system. Furthermore, the physicochemical properties of the complexes were also investigated by zeta potential, transmission electron microscopy (TEM) and dynamic light scattering (DLS) measurements. These biodegradable and biocompatible polymeric carriers have potential applications in gene delivery.