Portfolio Optimization Utilizing the Framework of Behavioral Portfolio Theory

Investors are assumed to be rational, however, empirical evidence shows otherwise. Investors categorize their investments into different mental accounts (MAs) with different biases. Behavioral portfolio theory (BPT) takes these behaviors and MAs into account when selecting for optimal portfolios. This study presents an aggregated portfolio optimization procedure using the framework of BPT. The procedure consists of three parts: return estimation, return weighting and MAs selection. Returns are estimated considering indexes that may reflect investor biases; Return estimates are then weighted according to SP/A theory to reflect investors' perception; Portfolios are then selected using an integrated optimization model where both the safety-first and risk-seeking MAs are considered. The estimation and weighting parameters used are based on market index forecasts. The back-test results show that the resulting aggregate portfolio and the embedded portfolios of the two MAs can outperform the market and mean-variance portfolio

Reflections on the impact of social technologies on lecturers in a pathway institution

Education has evolved over time from face-to-face teaching to computer-supported learning, and now to even more sophisticated electronic tools. In particular, social technologies are being used to supple- ment the classroom experience and to ensure that students are becoming increasingly engaged in ways that appeal to them. No matter how educationally beneficial, however, new technology is affected by its users. To investigate this, lecturers at the Eynesbury Institute of Business and Technology (EIBT)—a Higher Education pathway provider—were surveyed to determine their perception and application of social technolog(ies) in their personal, but predominantly ‘professional’ lives. Utilising a qualitative and autoethnographic approach, one author provides an insight into their own attitude toward social technologies, coupled with responses to three open-ended questions. Thereafter, the same questions were posed to EIBT academic staff to understand their willingness or reluctance to use social technologies in their practice as part of their first-year pathway course(s)

BcB_c spectroscopy

In the framework of potential models for heavy quarkonium the mass spectrum for the system ($\bar b c$) is considered. Spin-dependent splittings, taking into account a change of a constant for effective Coulomb interaction between the quarks, and widths of radiative transitions between the ($\bar b c$) levels are calculated. In the framework of QCD sum rules, masses of the lightest vector $B_c^*$ and pseudoscalar $B_c$ states are estimated, scaling relation for leptonic constants of heavy quarkonia is derived, and the leptonic constant $f_{B_C}$ is evaluated.Comment: IHEP 94-51, LATEX, 39 page

An On-Chip Compare/Steer Bubble Sorter

Two generic record-permutation bubble devices—the bubble ladder and the bubble string comparator—have been reported in the literature but not yet implemented. The former relies on the extensive use of external control lines, while the latter relies solely on the interaction between bubbles. The ladder has evolved into an odd- even sorter and then a rebound sorter, but, uufortunately, it is operated by a large number of control lines. This paper shows that equally efficient but more versatile sorters can be constructed from the bubble string comparators without the control lines. Moreover, the new sorter—an up-down sorter—will be implemented in the recently invented high-density, high-speed, coil-less perforated-sheet bubble devices

An ARIS-based model for implementing information systems from a strategic perspective

[[abstract]]In the Internet age, the information system implemented by a business affects various departments. If managers consider only some of the needs of a business in implementing an information system, overall corporate objectives will not be achieved. On the basis of a thorough literature review, the present study therefore proposes a five-step implementation model that includes key performance indicators (KPIs) developed from a strategic perspective of overall corporate objectives. Architecture of an integrated information system (ARIS) tool is integrated into most of the steps. The proposed model is validated by a case study of an implemented project. It is concluded that the proposed model can assist businesses to determine whether implemented projects meet the needs of business strategies. Businesses can also use the proposed model to customise unique business processes in designing and implementing information systems. Finally, the paper argues that ARIS should be regarded not only as an important tool for process analysis but also as a powerful tool for analysing the planning of projects in information-system implementation