Is There Any International Diversification Benefits in ASEAN Stock Markets?

This study finds that there is a common force which brings all the five ASEAN stock markets together in the long run by the nonparametric tests. This suggests that shocks from any of these five markets may spillover to the other markets in the same region. The recent Asian financial crisis bears a good testimony to this ‘contagion effect'. Subsequently, there would be no long run gain from international portfolio diversification. Specifically, investors with long run horizons may not benefit from an investment made across the countries in this ASEAN region. One possible explanation for this intra-ASEAN stock markets integration is their strong economic ties, especially intra-ASEAN trade and investment that has indirectly linked their stock indices.

Weak-form Efficient Market Hypothesis, Behavioural Finance and Episodic Transient Dependencies: The Case of the Kuala Lumpur Stock Exchange

This study utilizes the windowed-test procedure of Hinich and Patterson (1995) to examine the data generating process of KLSE CI returns series. Unlike previous studies, the present one relates the evidence to the popular weak-form EMH and behavioural finance, with the hope of offering some plausible explanations to the controversy arises between these two camps. Our econometrics results indicate that linear and non-linear dependencies play a significant role in the underlying data generating process. However, these dependencies are not stable as the results suggest that they are episodic and transient in nature. Along the line of our interpretations, we are able to offer some plausible explanations as to why weak-form EMH generally holds in KLSE, though the presence of linear and non-linear dependencies implies the potential of returns predictability. Specifically, these significant dependencies show up at random intervals for a brief period of time but then disappear again before they can be exploited by investors. Looking from a micro perspective, we are able to rationalize the co-existence of weak-form EMH and behavioural finance in KLSE when the statistical properties of random walk, linear and non-linear dependencies, which also co-exist in the time domain, are interpreted in the framework of information arrival and market reactions to that information.Data generating process; Weak-form EMH; Behavioural finance; Kuala Lumpur Stock Exchange; Malaysia.

Effects of Handling on Hatchability of Eggs of the Leatherback Turtle, Dermochelys coriacea (L.)

The infertility rate among clutches of leatherback sea turtle (Dermochelys coriacea) eggs incubated in the hatchery at Rantau A bang, Malaysia is estimated at 22%. Variance in hatchability among fertile clutches ranges from 35.7- 96. 7% (x = 78%) for eggs handled with maximum care. For such eggs hatchability did not show a correlation with the time between oviposition and reburial. Leatherback eggs can tolerate rough handling only up to 5 hours after oviposition. Beyond this threshold, careful handling to prevent rolling, bumping, rotation and disorientation of the vertical axis will enhance hatch rates

A fast, adaptive, and energy-efficient multi-path-multi-channel data collection protocol for wireless sensor networks

Energy consumption, traffic adaptability, fast data collection, etc are the major issues in wireless sensor networks (WSNs). Most existing WSN protocols are able to handle one or two of the above issues with the other(s) being compromised. In order to reduce the energy consumption of wireless sensor nodes while having fast data collection under different traffic generating rates, this paper proposes a fast, adaptive, and energy-efficient multi-path-multi-channel (FAEM) data collection protocol. FAEM makes use of the Basketball Net Topology proposed in the literature, in which a multi-parent-multi-child connection table is pre-established at each node; each node is also pre-assigned a receiving channel which is different from those of the neighboring nodes so as to eliminate the transmission interference. During data transmission, time is divided into duty cycles, and each consists of two phases, namely distributed iterative scheduling phase and slot-based packet forwarding phase. The former is to match parents and children of the entire WSN in a distributed manner in order to determine whether a node should be in upload (to which parent), download (from which child), or sleep mode in a particular slot; while the latter is for nodes to take action according to the schedule. Simulation shows that our protocol is able to achieve lower energy consumption, data reliability and low latency even during a high traffic load

Research, conservation and educational activities of the Sea Turtle Research Unit (SEATRU), Universiti Putra Malaysia Terengganu

The Sea Turtle Research Unit of University Putra Malaysia Terengganu (UPMT) was established in 1984, when research on sea turtles was first initiated in the University. Among the various research activities that have been conducted by the Unit, turtle tagging and nesting biology, research on hatchery and sex ratio, inter-nesting movements and behaviour, long distance migration and student research are included. Results from the satellite tracking study on long distance migration have reinforced the urgent need for regional cooperation among the ASEAN nations. The conservation and educational activities included the in-situ incubation of green and hawksbill turtle eggs. The public outreach programmes include the likes of 'Adopt a nest', 'Adopt a turtle', 'Volunteer Programme' and 'Turtle Camps'

Linearity and stationarity of South Asian real exchange rates

The linearity and stationarity of the real exchange rates of India, Nepal, Pakistan and Sri Lanka are investigated using formal linearity and the recently developed nonlinear stationary test procedures. Results obtained show that these real exchange rates are stationary albeit the presence of nonlinearity

Nanoconfinement induced crystal orientation and large piezoelectric coefficient in vertically aligned P(VDF-TrFE) nanotube array

10.1038/srep09790Scientific Reports

Application of the Observational Method on Crossrail projects

This is the author accepted manuscript. The final version is available from the Federation of Piling Specialists via http://www.fps.org.uk/fps/news/Crossrail%20Programme%20of%20Proceedings%20FINAL.pdfThis paper describes the use of the Observsational Method (OM) on three Crossrail station excavations. Firstly, at Tottenham Court Road, Western Ticket Hall excavation where a code compliant design was started. By the third excavation stage, it was realised that movements were less than predicted and an OM was introduced. This enabled the lowest level of strutting to be eliminated, leading to savings in both programme and costs. Secondly, at Canary Wharf Crossrail Station, an OM approach was envisaged before the start of construction, but was only designed during the final excavation stage when time was available for back-analysis. A saving in costs and programme was achieved. Thirdly, at Moorgate shaft (part of Liverpool St Station) where construction commenced with a standard codecompliant design. A client-led redesign was carried out after installation of the diaphragm wall with an innovative verification process using a proactive OM approach to enable programme savings. When unusual deflection were observed from the shaft east wall due to structural uncertainties and construction activities, the OM and verification process provided a flexible framework within which to reassess ongoing movements and effects on an adjacent tunnel to ensure construction could proceed safely. The case histories described demonstrate the benefit of adopting the OM for excavations in order to achieve savings in time and cost, and to react to unexpected movements during construction. These case histories fit well within a new framework for OM applications developed as part of the CIRIA C760.ARUP, CSI