371 research outputs found
Portfolio choice with high frequency data : CRRA preferences and the liquidity effect
This paper suggests a new approach for portfolio choice. In this frame- work, the investor, with CRRA preferences, has two objectives: the maximization of the expected utility and the minimization of the portfolio expected illiquidity. The CRRA utility is measured using the portfolio realized volatility, realized skewness and realized kurtosis, while the portfolio illiquidity is measured using the well-known Amihud illiquidity ratio. Therefore, the investor is able to make her choices directly in the expected utility/liquidity (EU/L) bi-dimensional space. We conduct an empiri- cal analysis in a set of fourteen stocks of the CAC 40 stock market index, using high frequency data for the time span from January 1999 to December 2005 (seven years). The robustness of the proposed model is checked according to the out-of-sample per- formance of different EU/L portfolios relative to the minimum variance and equally weighted portfolios. For different risk aversion levels, the EU/L portfolios are quite competitive and in several cases consistently outperform those benchmarks, in terms of utility, liquidity and certainty equivalent.info:eu-repo/semantics/publishedVersio
An algebraic SU(1,1) solution for the relativistic hydrogen atom
The bound eigenfunctions and spectrum of a Dirac hydrogen atom are found
taking advantage of the Lie algebra in which the radial part of the
problem can be expressed. For defining the algebra we need to add to the
description an additional angular variable playing essentially the role of a
phase. The operators spanning the algebra are used for defining ladder
operators for the radial eigenfunctions of the relativistic hydrogen atom and
for evaluating its energy spectrum. The status of the Johnson-Lippman operator
in this algebra is also investigated.Comment: to appear in Physics Letters A (2005). We corrected a misprint in
page 7, in the paragraph baggining with "With the value of ..." the ground
state should be |\lambda, \lambda>, not |\lambda, \lambda+1
UPLC-MS-ESI-QTOF analysis and antifungal activity of the spondias tuberosa arruda leaf and root hydroalcoholic extracts
The aim of this study was to identify and evaluate the chemical compositions and effects of the S. tuberosa leaf and root hydroalcoholic extracts (HELST and HERST) against different strains of Candida. Chemical analysis was performed by Ultra-Performance Liquid Chromatography Coupled to Quadrupole/Time of Flight System (UPLC-MS-ESI-QTOF). The Inhibitory Concentration of 50% of the growth (IC50) as well as the intrinsic and combined action of the extracts with the antifungal fluconazole (FCZ) were determined by the microdilution method while the minimum fungicidal concentrations (MFCs) and the effect on fungal morphological transitions were analyzed by subculture and in humid chambers, respectively. From the preliminary phytochemical analysis, the phenols and flavonoids were the most abundant. The intrinsic IC50 values for HELST ranged from 5716.3 to 7805.8 \ub5g/mL and from 6175.4 to 51070.9 \ub5g/mL for the HERST, whereas the combination of the extracts with fluconazole presented IC50 values from 2.65 to 278.41 \ub5g/mL. The MFC of the extracts, individually, for all the tested strains was 6516384 \ub5g/mL. When fluconazole was combined with each extract, the MFC against CA URM 5974 was reduced (HELST: 2048 and HERST: 4096 \ub5g/mL). Synergism was observed against standard C. albicans (CA) and C. tropicalis (CT) strains and with the root extract against the CT isolate. The leaf extract inhibited the morphological transition of all strains while the root extract inhibited only CT strains
Nutrient extraction and exportation by common bean cultivars under different fertilization levels: I - macronutrients
The Milky Way Bulge: Observed properties and a comparison to external galaxies
The Milky Way bulge offers a unique opportunity to investigate in detail the
role that different processes such as dynamical instabilities, hierarchical
merging, and dissipational collapse may have played in the history of the
Galaxy formation and evolution based on its resolved stellar population
properties. Large observation programmes and surveys of the bulge are providing
for the first time a look into the global view of the Milky Way bulge that can
be compared with the bulges of other galaxies, and be used as a template for
detailed comparison with models. The Milky Way has been shown to have a
box/peanut (B/P) bulge and recent evidence seems to suggest the presence of an
additional spheroidal component. In this review we summarise the global
chemical abundances, kinematics and structural properties that allow us to
disentangle these multiple components and provide constraints to understand
their origin. The investigation of both detailed and global properties of the
bulge now provide us with the opportunity to characterise the bulge as observed
in models, and to place the mixed component bulge scenario in the general
context of external galaxies. When writing this review, we considered the
perspectives of researchers working with the Milky Way and researchers working
with external galaxies. It is an attempt to approach both communities for a
fruitful exchange of ideas.Comment: Review article to appear in "Galactic Bulges", Editors: Laurikainen
E., Peletier R., Gadotti D., Springer Publishing. 36 pages, 10 figure
Extração e exportação de nutrientes pelo feijoeiro adubado com nitrogênio, em diferentes tempos de implantação do sistema plantio direto
Pharmacotherapy review: a proposal to improve medication adherence among hypertensive patients
Etiology, antimicrobial susceptibility profile of Staphylococcus spp. and risk factors associated with bovine mastitis in the states of Bahia and Pernambuco
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