Magtrieve™ (CrO2) and MnO2 mediated oxidation of aldoximes: studying the reaction course

Magtrieve™ (CrO₂) and MnO₂ mediated oxidation of aldoximes to nitrile oxides were studied in details. In presence of external radical source, TEMPO, these reagents did not furnish nitrile oxides, instead favoured deoximation to aldehydes. A common trend of deoximation was established from electronically tuned aldoximes, which is: aliphatic>aromatic>aldoximes with strong electron-withdrawing group, though the extent of deoximation was less in case of CrO₂. Above effects were not observed with chloramine-T and diacetoxyiodobenzene, reagents known to produce nitrile oxides via hydroximoyl halide or equivalent ionic intermediates. A putative reaction mechanism is proposed for MO₂ (M=Cr, Mn) mediated oxidation of aldoximes through formation of a nitroso-oxime tautomeric pair. Formation of nitrile oxide is possibly occurred from the oxime tautomer via a σ-type iminoxy radical intermediate. The deoximation process, dominating in presence of external radical environment, is explained following decomposition of the nitroso tautomer.     

Identifying the structure of group correlation in the Korean financial market

We investigate the structure of the cross-correlation in the Korean stock market. We analyze daily cross-correlations between price fluctuations of 586 different Korean stock entities for the 6-year time period from 2003 to 2008. The main purpose is to investigate the structure of group correlation and its stability by undressing the market-wide effect using the Markowitz multi-factor model and the network-based approach. We find the explicit list of significant firms in the few largest eigenvectors from the undressed correlation matrix. We also observe that each contributor is involved in the same business sectors. The structure of group correlation can not remain constant during each 1-year time period with different starting points, whereas only two largest eigenvectors are stable for 6 years 8-9 eigenvectors remain stable for half-year. The structure of group correlation in the Korean financial market is disturbed during a sufficiently short time period even though the group correlation exists as an ensemble for the 6-year time period in the evolution of the system. We verify the structure of group correlation by applying a network-based approach. In addition, we examine relations between market capitalization and businesses. The Korean stock market shows a different behavior compared to mature markets, implying that the KOSPI is a target for short-positioned investors.     

Reserve stock models: Deterioration and preventive replenishment

Reserve stocks are needed in a wide spectrum of industries from strategic oil reserves to tactical (machine buffer) reserves in manufacturing. One important aspect under-looked in research is the effect of deterioration, where a reserve stock, held for a long time, may be depleted gradually due to factors such as spoilage, evaporation, and leakage. We consider the common framework of a reserve stock that is utilized only when a supply interruption occurs. Supply outage occurs randomly and infrequently, and its duration is random. During the down time the reserve is depleted by demand, diverted from its main supply. We develop optimal stocking policies, for a reserve stock which deteriorates exponentially. These policies balance typical economic costs of ordering, holding, and shortage, as well as additional costs of deterioration and preventive measures. Our main results are showing that (i) deterioration significantly increases cost (up to 5%) and (ii) a preventive replenishment policy, with periodic restocking, can offset some of these additional costs. One side contribution is refining a classical reserve stock model (Hansmann, 1962).     

基于滤波技术的首都旅游贸易发展趋势与周期研究

运用HP滤波技术,实证拟合了首都旅游贸易的发展趋势和周期.在对时间序列分离出趋势和周期之后,采用多项式拟合给出了趋势值的经验回归表达式,在此基础上,分析了剔除趋势后的贸易周期特征.研究表明,改革开放的前10年,首都旅游贸易的出口周期性表现并不明显;之后至今的20年,则呈现显著周期特征,周期长度大约5-7年,但这种周期变化也不具有稳定性.对比我国经济发展历程,首都旅游贸易出口周期与宏观经济增长周期高度一致,显示出其对宏观经济发展具有高度敏感性,因此必须重视宏观经济减速给首都旅游贸易带来的衰退影响.另外,重大事件对首都旅游贸易的影响也不容忽视.     

中国对外直接投资的贸易效应研究:基于对北美自贸区、欧盟、东盟投资的比较分析

中国对外贸易发展成熟、国际地位显著,但从长期看,其边际收益呈现递减趋势.而对外直接投资虽规模较小,且尚在起步阶段,但其发展速度快、市场潜力巨大.在拓展Anderson和Wincoop模型基础上,理论分析了对外直接投资与贸易之间的关系.然后通过建立计量模型,利用1995-2011年面板数据进行固定模型分析.由于中国对外直接投资的贸易效应存在明显的区域性,以北美自贸区、欧盟和东盟作为研究对象,实证检验了中国对外直接投资与贸易的关系,旨在考察中国对三种不同类型区域一体化组织投资的贸易效应差异.研究结果表明,从长期看,中国对北美自由贸易区、欧盟和东盟投资均具有明显的贸易创造效应.这种贸易创造效应的大小依次是东盟欧盟北美自贸区.     

马尔可夫链及其在股市分析中的应用

本文运用马尔可夫链理论预测股票价格分析股市,提出了股价运行周期和投资收益的最大化理论,并建立其随机过程模型,使决策的长期效益趋于最优,通过实例检验,证明了此模型的可行性和实用性.     

宏观经济信息宣告的股市收益及波动性效应——基于改进的AR(1)-EGARCH(1,1)-M模型的实证检验

基于改进的AR(1)-EGARCH(1,1)-M模型,从收益率和波动性两个方面考察各类宏观信息宣告对股票市场价格行为的影响.结果表明,居民消费价格指数和商品零售价格指数对股票市场的收益有负向影响;国内生产总值、社会消费品零售总额、公开市场操作利率变动率和企业景气指数对股票市场的收益有正向影响;公开市场操作公告会导致股票市场条件收益率显著增加;其余各类宏观信息因素对股票市场收益的波动性并不存在显著影响.     

Alternative configurations for cutting machines in a tube cutting mill

In a steel tube mill where an endless stream of steel tube is supplied from a manufacturing facility, trim waste is never made regardless of cutting patterns used and the standard cutting stock problem seems meaningless. Therefore, the continuous stock cutting problem with setup is introduced to minimize the sum of cutting time and pattern changing time to meet the given demand. We propose a new configuration of cutting machines to achieve higher production efficiency, namely the open-ended configuration as opposed to the traditional closed-ended configuration, thereby two variants of the problem are defined. We propose linear formulations for both problems using binary expansion of the number of pieces of different types in a pattern. Furthermore, we define the time for pattern change as a linear function of the number of knives used in the pattern to be more realistic. Computational studies suggest that the open-ended cutting machine may improve the production time by up to 44% and that our linear formulations are more efficient than the existing ones.     

Regiocontrolled fluorination of 2-hydroxyalkyl dihydropyrans and carbonyl derivatives

Reaction of polysubstituted 2-hydroxyalkyldihydropyrans with DAST led regiospecifically to fluorination at the exocyclic position, except for primary alcohols. Difluorination of carbonylated analogues with deoxo-fluor™ occurred also regioselectively. The unexpected stability and synthetic potential of these new allylic fluorides are discussed.