Negative Jump Intensities in Financial Return Data

2019 ◽  
Author(s):  
Dilip B. Madan ◽  
King Wang
Keyword(s):  
Financial Return ◽  
Negative Jump ◽  
Return Data

scholarly journals Skew Generalized Secant Hyperbolic Distributions: Unconditional and Conditional Fit to Asset Returns

2016 ◽  
Vol 33 (3) ◽  
Author(s):  
Matthias Fischer
Keyword(s):  
Scale Parameter ◽  
Asset Returns ◽  
Financial Return ◽  
Hyperbolic Distribution ◽  
Skewness Parameter ◽  
Return Data

A generalization of the hyperbolic secant distribution which allows for both skewness and leptokurtosis was given by Morris (1982). Recently, Vaughan (2002) proposed another flexible generalization of the hyperbolic secant distribution which has a lot of nice properties but is not able to allow for skewness. For this reason, Fischer and Vaughan (2002) additionally introduced a skewness parameter by means of splitting the scale parameter and showed that most of the nice properties are preserved. We briefly reviewthis class of distributions and apply them to financial return data. By means of the Nikkei225 data, it will be shown that this class of distributions, the socalled skew generalized secant hyperbolic distribution, provides an excellent fit in the context of unconditional and conditional return models.

Vine copulas with asymmetric tail dependence and applications to financial return data

2012 ◽  
Vol 56 (11) ◽  
pp. 3659-3673 ◽  
Author(s):  
Aristidis K. Nikoloulopoulos ◽  
Harry Joe ◽  
Haijun Li
Keyword(s):  
Tail Dependence ◽  
Financial Return ◽  
Vine Copulas ◽  
Return Data

Fertiliser evenness - losses and costs: A study on the economic benefits of uniform applications of fertiliser

1999 ◽  
pp. 215-220 ◽  
Author(s):  
R. Horrell ◽  
A.K. Metherell ◽  
S. Ford ◽  
C. Doscher
Keyword(s):  
Crop Yields ◽  
Cumulative Effect ◽  
Economic Loss ◽  
Economic Benefits ◽  
Significant Loss ◽  
Economic Losses ◽  
Financial Return ◽  
Spread Pattern ◽  
Fertiliser Application ◽  
Seed Crops

Over two million tonnes of fertiliser are applied to New Zealand pastures and crops annually and there is an increasing desire by farmers to ensure that the best possible economic return is gained from this investment. Spreading distribution measurements undertaken by Lincoln Ventures Ltd (LVL) have identified large variations in the evenness of fertiliser application by spreading machines which could lead to a failure to achieve optimum potential in some crop yields and to significant associated economic losses. To quantify these losses, a study was undertaken to calculate the effect of uneven fertiliser application on crop yield. From LVL's spreader database, spread patterns from many machines were categorised by spread pattern type and by coefficient of variation (CV). These patterns were then used to calculate yield losses when they were combined with the response data from five representative cropping and pastoral situations. Nitrogen fertiliser on ryegrass seed crops shows significant production losses at a spread pattern CV between 30% and 40%. For P and S on pasture, the cumulative effect of uneven spreading accrues, until there is significant economic loss occurring by year 3 for both the Waikato dairy and Southland sheep and beef systems at CV values between 30% and 40%. For nitrogen on pasture, significant loss in a dairy system occurs at a CV of approximately 40% whereas for a sheep and beef system it is at a CV of 50%, where the financial return from nitrogen application has been calculated at the average gross revenue of the farming system. The conclusion of this study is that the current Spreadmark standards are a satisfactory basis for defining the evenness requirements of fertiliser applications in most circumstances. On the basis of Spreadmark testing to date, more than 50% of the national commercial spreading fleet fails to meet the standard for nitrogenous fertilisers and 40% fails to meet the standard for phosphatic fertilisers.Keywords: aerial spreading, crop response, economic loss, fertiliser, ground spreading, striping, uneven application, uneven spreading, yield loss

Privileged Structures in the Design of Potential Drug Candidates for Neglected Diseases

2019 ◽  
Vol 26 (23) ◽  
pp. 4323-4354 ◽  
Author(s):  
Ana Cristina Lima Leite ◽  
José Wanderlan Pontes Espíndola ◽  
Marcos Veríssimo de Oliveira Cardoso ◽  
Gevanio Bezerra de Oliveira Filho
Keyword(s):  
Biologically Active ◽  
Neglected Diseases ◽  
Financial Return ◽  
Drug Candidates ◽  
Lead Compounds ◽  
Wide Range ◽  
Methods Of Synthesis ◽  
Current Therapies ◽  
Resistant Strains ◽  
Privileged Structures

Background: Privileged motifs are recurring in a wide range of biologically active compounds that reach different pharmaceutical targets and pathways and could represent a suitable start point to access potential candidates in the neglected diseases field. The current therapies to treat these diseases are based in drugs that lack of the desired effectiveness, affordable methods of synthesis and allow a way to emergence of resistant strains. Due the lack of financial return, only few pharmaceutical companies have been investing in research for new therapeutics for neglected diseases (ND). Methods: Based on the literature search from 2002 to 2016, we discuss how six privileged motifs, focusing phthalimide, isatin, indole, thiosemicarbazone, thiazole, and thiazolidinone are particularly recurrent in compounds active against some of neglected diseases. Results: It was observed that attention was paid particularly for Chagas disease, malaria, tuberculosis, schistosomiasis, leishmaniasis, dengue, African sleeping sickness (Human African Trypanosomiasis - HAT) and toxoplasmosis. It was possible to verify that, among the ND, antitrypanosomal and antiplasmodial activities were between the most searched. Besides, thiosemicarbazone moiety seems to be the most versatile and frequently explored scaffold. As well, phthalimide, isatin, thiazole, and thiazolidone nucleus have been also explored in the ND field. Conclusion: Some described compounds, appear to be promising drug candidates, while others could represent a valuable inspiration in the research for new lead compounds.

For Love, Not Money: The Financial Implications of Surgical Fellowship Training

2016 ◽  
Vol 82 (9) ◽  
pp. 794-800 ◽  
Author(s):  
Paul M. Inclan ◽  
Adam S. Hyde ◽  
Michael Hulme ◽  
Jeffrey E. Carter
Keyword(s):  
Net Present Value ◽  
Surgical Oncology ◽  
Fellowship Training ◽  
Financial Return ◽  
Group Management ◽  
Career Values ◽  
Management Association ◽  
Prolonged Training ◽  
Physician Income ◽  
Income Data

Surgical residents cite “increased income potential” as a motivation for pursuing fellowship training, despite little evidence supporting this perception. Thus, our goal is to quantify the financial impact of surgical fellowship training on financial career value. By using Medical Group Management Association and Association of American Medical Colleges physician income data, and accounting for resident salary, student debt, a progressive tax structure, and forgone wages associated with prolonged training, we generated a net present value (NPV) for both generalist and subspecialist surgeons. By comparing generalist and subspecialist career values, we determined that cardiovascular (ANPV = $698,931), pediatric ($430,964), thoracic ($239,189), bariatric ($166,493), vascular ($96,071), and transplant ($46,669) fellowships improve career value. Alternatively, trauma (-$11,374), colorectal (-$44,622), surgical oncology (-$203,021), and breast surgery (-$326,465) fellowships all reduce career value. In orthopedic surgery, spine ($505,198), trauma ($123,250), hip and joint ($60,372), and sport medicine ($56,167) fellowships improve career value, whereas shoulder and elbow (-$4,539), foot and ankle (-$173,766), hand (-$366,300), and pediatric (-$489,683) fellowships reduce career NPV. In obstetrics and gynecology, reproductive endocrinology ($352,854), and maternal and fetal medicine ($322,511) fellowships improve career value, whereas gynecology oncology (-$28,101) and urogynecology (-$206,171) fellowships reduce career value. These data indicate that the financial return of fellowship is highly variable.

THE FINANCIAL RETURN OF CEREAL FARMING FOR SMALLHOLDER FARMERS IN THE CENTRAL HIGHLANDS OF ETHIOPIA

2009 ◽  
Vol 46 (2) ◽  
pp. 137-153 ◽  
Author(s):  
LALISA ALEMAYEHU DUGUMA ◽  
IKA DARNHOFER ◽  
HERBERT HAGER
Keyword(s):  
Smallholder Farmers ◽  
Labour Productivity ◽  
Important Variable ◽  
Farm Size ◽  
Financial Return ◽  
Net Return ◽  
Net Returns ◽  
The Poor ◽  
Central Highlands ◽  
The Rich

SUMMARYA study was conducted in Suba area, central highlands of Ethiopia, to assess the net return, land and labour productivity, and the return to scale of cereal farming practice. Seventy-five farmers belonging to three local wealth classes (poor, medium and rich) were randomly selected and interviewed about inputs and outputs related to cereal farming for the production year 2007/2008. Farm soil properties were investigated to check the variability in soil quality among the wealth classes. Benefit:cost ratio (BCR), net returns and annual profit were used to indicate the worthiness of the cereal farming activity. The return to scale was estimated by using the Cobb–Douglas production function. The results show that cereal farming is a rewarding practice, with the rich households gaining more profit than the poor. Farm size was the most important variable that affects the net return. There is an increasing return to scale. However, it is unlikely that farmers will have more land than they own at present because of the land shortage problem in the country caused by the increasing human population. Thus, attention should be given to minimizing the costs of production through proper regulation of domestic fertilizer costs and increasing labour productivity especially for the poor and medium households. The use of manure and compost as an additional fertilizer should also be promoted.

scholarly journals Optimization of Financial Asset Neutrosophic Portfolios

Mathematics ◽  
2021 ◽  
Vol 9 (11) ◽  
pp. 1162
Author(s):  
Marcel-Ioan Boloș ◽  
Ioana-Alexandra Bradea ◽  
Camelia Delcea
Keyword(s):  
Capital Market ◽  
Financial Risk ◽  
Financial Asset ◽  
Financial Assets ◽  
Portfolio Risk ◽  
Financial Return ◽  
Additional Information ◽  
Triangular Numbers ◽  
The Capital Market

The purpose of this paper was to model, with the help of neutrosophic fuzzy numbers, the optimal financial asset portfolios, offering additional information to those investing in the capital market. The optimal neutrosophic portfolios are those categories of portfolios consisting of two or more financial assets, modeled using neutrosophic triangular numbers, that allow for the determination of financial performance indicators, respectively the neutrosophic average, the neutrosophic risk, for each financial asset, and the neutrosophic covariance as well as the determination of the portfolio return, respectively of the portfolio risk. There are two essential conditions established by rational investors on the capital market to obtain an optimal financial assets portfolio, respectively by fixing the financial return at the estimated level as well as minimizing the risk of the financial assets neutrosophic portfolio. These conditions allowed us to compute the financial assets’ share in the total value of the neutrosophic portfolios, for which the financial return reaches the level set by investors and the financial risk has the minimum value. In financial terms, the financial assets’ share answers the legitimate question of rational investors in the capital market regarding the amount of money they must invest in compliance with the optimal conditions regarding the neutrosophic return and risk.

scholarly journals Preserving the Integrity of Social Impact Investing: Towards a Distinctive Implementation Strategy

2021 ◽  
Vol 13 (5) ◽  
pp. 2852
Author(s):  
Irene Bengo ◽  
Alice Borrello ◽  
Veronica Chiodo
Keyword(s):  
Asset Allocation ◽  
Implementation Strategy ◽  
Social Impact ◽  
Social Risk ◽  
Cultural Shift ◽  
Financial Return ◽  
Impact Investing ◽  
Top Managers ◽  
Specific Practice ◽  
Definition Of

Social impact investing (SII) is a strategy of asset allocation that aims to generate social and environmental impact alongside a financial return. Compared to other approaches of sustainable finance it holds an enormous potential of generating solutions to societal challenges. However, scholars have claimed that social impact often just employs logic upheld by the mainstream investment approach. Therefore, the paper investigates the assumption that SII has not developed a distinctive implementation strategy able to translate the prioritization of social impact into practice and how to overcome this issue. The thematic analysis of data collected through 105 interviews with Italian SII financiers and the top managers of social ventures allowed us to identify three features of an SII tailored practice: promoting a cultural shift of intermediaries, adopting a coopetition approach, and integrating the social impact in the terms of the financial transaction. Lastly, the paper drafts a research agenda to enhance the proper theorization of SII focusing on the definition of social risk, social return, and governance mechanisms. The key contribution of this article is confirming the lack of an SII-specific practice able to endogenize the intent of prioritizing social impact and providing suggestions to prevent the risk of impact washing.

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