Public Disclosure, Risk, and Performance at Bank Holding Companies

This paper examines the relationship between the amount of information disclosed by bank holding companies (BHCs) and their subsequent risk profile and performance. Using data from the annual reports of BHCs with large trading operations, we construct an index of publicly disclosed information about the BHCs’ forward-looking estimates of market risk exposure in their trading and market-making activities. The paper then examines the relationship between this index and the subsequent risk and return in both the BHCs’ trading activities and the firm overall, as proxied by equity market returns. The key findings are that more disclosure is associated with lower risk, especially idiosyncratic risk, and in turn with higher risk-adjusted returns. These findings suggest that greater disclosure is associated with more efficient risk taking and thus improved risk-return trade-offs, although the direction of causation is unclear

A Statistically Principled Approach to

This paper outlines a statistically principled approach to clustering one dimensional data. Given a dataset, the idea is to fit a density function that is as simple as possible, but still compatible with the data. Simplicity is measured in terms of a standard smoothness functional. Data-compatibility is given a precise meaning in terms of distribution-free statistics based on the empirical distribution function

Genome Informatics 14: 492--493 (2003) A Protein Structure Retrieval System Using

this paper, to represent protein structure, we used distribution of atom bond lines. And we designed and implemented a protein structure retrieval system based on histogram of atom bond lines. The representation of protein used to compare between protein structures in this system is 3-dimensional edge histogram that is distribution of atom bond lines on the three-dimensional coordinate space. This methodology is a method that extracts 10 three-dimensional edge patterns from the stick model or the wireframe model that represent bonds of atoms in lines. And it generates three-dimensional edge histogra