1,204 research outputs found
Does virtual currency development harm financial stocksâ value? Comparing Taiwan and China markets
This research incorporated virtual currency development factors
into the capital asset pricing model (CAPM) and interpreted the
effects of bitcoin and fin-tech on the capital market through a
deduction of the portfolio theory and innovation diffusion theory
(IDT) on changes to financial stocksâ value. This paper examined a
total of 67,166 panel data of financial stocks in the two emerging
markets of Taiwan and China between July 2016 and April 2019,
presenting the following significant findings. (1) Financial stocks
in Taiwanâs market are more greatly shocked by the bitcoin and
interaction effect between bitcoin and fin-tech than those in
Chinaâs market. (2) Even after changing proxy variable or autocorrelation
and heteroskedasticity are considered, the asymmetric
shocks on financial stocks in Taiwanâs market are still great. (3)
The effects of the two variables of bitcoin and interaction with
fin-tech on financial stocks are consistently important as the
three-factor CAPM model. (4) Transmitted by the changes in currency
supply and demand as well as exchange rate volatilities,
the spillover effects of virtual currencies and financial innovation
indirectly change the currency multiplier of the home country,
investorsâ sensibility to interest rates, and balance of import and
export trades and may eventually impact the gross outputs and
inflation of individual economies
Ward Identities and High-energy Scattering Amplitudes in String Theory
High-energy limit of stringy Ward identities derived from the decoupling of
two types of zero-norm states in the old covariant first quantized (OCFQ)
spectrum of open bosonic string are used to check the consistency of saddle
point calculations of high energy scattering amplitudes of Gross and Mende and
Gross and Manes. Some inconsistencies of their saddle point calculations are
found even for the string-tree scattering amplitudes of the excited string
states. We discuss and calculate the missing terms of the calculation by those
authors to recover the stringy Ward identities. In addition, based on the
tree-level stringy Ward identities, we give the proof of a general formula,
which was proposed previously, of all high energy four-point string-tree
amplitudes of arbitrary particles in the string spectrum. In this formula all
such scattering amplitudes are expressed in terms of those of tachyons as
conjectured by Gross. The formula is extremely simple which manifestly
demonstrates the universal high energy behavior of the interactions among all
string states.Comment: 1 typo, to appear in Nucl. Phys.
A new and efficient intelligent collaboration scheme for fashion design
Technology-mediated collaboration process has been extensively studied for over a decade. Most applications with collaboration concepts reported in the literature focus on enhancing efficiency and effectiveness of the decision-making processes in objective and well-structured workflows. However, relatively few previous studies have investigated the applications of collaboration schemes to problems with subjective and unstructured nature. In this paper, we explore a new intelligent collaboration scheme for fashion design which, by nature, relies heavily on human judgment and creativity. Techniques such as multicriteria decision making, fuzzy logic, and artificial neural network (ANN) models are employed. Industrial data sets are used for the analysis. Our experimental results suggest that the proposed scheme exhibits significant improvement over the traditional method in terms of the timeâcost effectiveness, and a company interview with design professionals has confirmed its effectiveness and significance
Zero-norm states and stringy symmetries
We identify spacetime symmetry charges of 26D open bosonic string theory from
an infinite number of zero-norm states (ZNS) with arbitrary high spin in the
old covariant first quantized string spectrum. We give various evidences to
support this identification. These include massive sigma-model calculation,
Witten string field theory calculation, 2D string theory calculation and, most
importantly, three methods of high-energy stringy scattering amplitude
calculations. The last calculations explicitly prove Gross's conjectures in
1988 on high energy symmetry of string theory.Comment: 6 pages. Talks presented by Jen-Chi Lee at XXVIII Spanish Relativity
Meeting (ERE2005),"A Century of Relativity Physics",Oviedo,Spain,6-10 Sep
2005 and "4th Meeting on constrained Dynamics and Quantum Gravity",Cala
Gonone,Sardinia,Italy,12-16 Sep 2005. To appear in the Journal of Physics:
Conference Serie
Big Data Measures of Environmental Concern
Environmental concern is a subjective state of society and researchers have typically relied on survey data to measure it. However, survey-based methods only capture a snapshot of it at the time and place the surveys were conducted. To overcome these problems, we develop an observable indicator that allows us to study environmental concern over time and across territories based on big data. The indicator composes of keyword groups that fit with the environmental concern measures revealed by a large-scale survey. We find that keywords associated with climate change, water pollution and waste management are the strongest predictors of environmental concern. To the best of our knowledge, our paper is the first to use online search data to capture subjective environmental concern
Accretion-induced Collapse of Dark Matter-admixed Rotating White Dwarfs: Dynamics and Gravitational-wave Signals
We present two-dimensional hydrodynamic simulations of the accretion-induced
collapse (AIC) of rotating white dwarfs admixed with an extended component of
dark matter (DM) comprising of sub-GeV degenerate fermionic DM particles. We
find that the DM component would follow the collapse of the normal matter (NM)
component to become a bound DM core. Thus, we demonstrate how a DM-admixed
neutron star could form through DM-admixed AIC (DMAIC) for the first time, with
the dynamics of DM taken into account. The gravitational-wave (GW) signature
from the DMAIC shows distinctive features. In the diffusive DM limit, the DM
admixture indirectly suppresses the post-bounce spectral peak of the NM GWs. In
the compact DM limit, the collapse dynamics of the DM in a Milky Way event
generate GWs that are strong enough to be detectable by Advanced LIGO as
continuous low-frequency ( Hz) signals after the NM core bounce. Our
study not only is the first-ever computation of GW from a collapsing DM object
but also provides the key features to identify DM in AIC events through future
GW detections.Comment: 14 pages, 13 figure
Evaluating the Operational Efficiency of Life Insurance Companies in Taiwanâ An Application of the Dynamic Network SBM Model
Using a Dynamic Network Slack-based Measurement model (Tone & Tsutsui, 2014), this study evaluated the operational efficiency of life insurance firms in Taiwan from 2006 to 2013. In contrast to previous research, we incorporated assets and liabilities management into the model and compared them against optimal efficiency values in order to determine whether firms are earning maximizing profit while ensuring long-term solvency. The life insurance industry in Taiwan has matured. We found that market competitiveness depends on firms size and business model. Financial holdings companies and large corporations are performing strongly, while small local firms and foreign-owned firms scored poorly in technical efficiency. Economies of scale contribute to the business performance of life insurance firms. Life insurance companies that had merged with or been acquired by financial holdings firms showed notable improvement in efficiency. However, change in term efficiency is a warning signal in long-term business performance of life insurance firms. Lastly, most companies achieved optimal carry-over efficiency, indicating that they place considerable emphasis on managing assets and liabilities in order to ensure future solvency
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