The gold market at the Paris stock exchange: a risk-return analysis 1950-2003

"This paper aims to study the return of investment in gold assets quoted at the Paris stock exchange during 54 years, from 1950 to 2003. Contrarily to what is thought about this mythical metal, its risk-return is very inferior to other financial assets (stocks and bonds). While it has a high degree of risk, its return is less than that of the risk-free asset. Moreover for individual investors, investment in gold has given a very low result in real terms. A capital of 100 new francs invested in the gold coin napoleon in December 1949 would have been liquidated for 56 new francs in December 2003. So its real rate of return was -1% per year." (author's abstract

SOI PHOTONIC CRYSTAL WAVEGUIDES OPERATING IN TELECOMMUNICATION RANGE FOR INTEGRATED CIRCUITS

Silicon photonics has been of great interest and plays an significant role in optical communications. Various devices acting as the key components of integrated circuits can be generated based on silicon-on-insulator (SOI) platform. Among those, SOI photonic crystal waveguide (SOI PCW) have been considered as one of the most fundamental and essential elements. In this report, we present the design and the numerical property of SOI PCWs operating in telecommunication range, i.e., O-band (1260 – 1360 nm)with TE and/or TM polarizations. The SOI PCWsincluding conventional W1 and slot SOI PCWs have been designed in order to exploit two kinds of mode: W1-like and true-slot.For that purpose, the geometric parameters of the SOI PCW withthe triangular PhC structure are chosen as follows. The thickness of the silicon slab was fixed at 300 nm to match with the fabrication in industrial scale, the size of the hole was around 210 nm and the lattice constant was tuned in the range of 300 nm to 400 nm. The width of waveguide was modified fromW1 to W1.50 and the width of the slot was of about 100 nm. In addition,the covering materials were selected with refractive index of 1.0 corresponding to air as well as refractive indices of from 1.45 to 1.50 corresponding to the active materials. The demonstrated SOI PCWs in this work might find applications in optical integrated circuits and our investigation on the dependence of the dispersion on the width of waveguide and refractive index of the covering material will provide a general guide line for guiding signal and for monitoring or sensing purposes

La rentabilité des actifs d'or cotés à la bourse de Paris, 1950-2003.

Ce papier étudie la rentabilité du placement dans les actifs « or » cotés à la Bourse de Paris sur une période de 54 ans, de 1950 à 2003. Contrairement à ce qu’on peut penser de ce métal mythique, il est beaucoup moins rentable que les autres valeurs mobilières (les actions et les obligations). En plus, il est très risqué. Cette prise de risque n’est pas bien rémunérée puisque sa rentabilité est plus faible qu’un placement au taux sans risque. En même temps, le pouvoir d’achat des placements en or baisse de façon considérable. Un capital de 100 francs (nouveaux francs) investi en lingot en décembre 1949 vaut 72 francs (nouveaux francs) en décembre 2003. Ce qui donne un taux d’intérêt composé de -0,22% par an.Actifs d’or cotés à la Bourse de Paris, rentabilité-risque, pouvoir d’achat

L'or coté à Paris et la diversification des portefeuilles français de 2004 à 2009.

L’objectif de cet article est d’étudier le rôle de l’or coté à Paris (physique et papier) dans la diversification des portefeuilles français durant la période 2004 à 2009. Les résultats obtenus montrent que l’or coté à Paris est peu corrélé avec les actions et les obligations françaises. De même, l’introduction de l’or dans un portefeuille boursier français permet de réduire le risque et d’augmenter la rentabilité de celui-ci. Par conséquent, l’or permet d’améliorer significativement la frontière efficiente ainsi que la performance de ce portefeuille. La proportion de l’or (physique ou papier) à inclure pour minimiser le risque des portefeuilles est de 2% à 5%. Par ailleurs, l’or physique est plus efficace que l’or papier (fonds-or) dans la diversification de portefeuille. De même, l’or (physique ou papier) est plus efficace dans un portefeuille d’actions que dans un portefeuille d’obligations.L’or, le marché de l’or à Paris, diversification de portefeuille, corrélation, frontière efficiente, performance de portefeuille

Users\u27 Searching Behaviour in Using Online Databases at Vietnam National University - Ho Chi Minh City

Purpose: This paper focuses on identifying the searching behaviors of the users, their difficulties as well as their expectations from library supports while using online databases at the Central Library of Vietnam National University – Ho Chi Minh city. Methods: Usage Reports of six online databases subscribed by the Central Library were analyzed and a survey by emailing users a questionnaire was conducted. Findings: The amount of usage increases yearly, however it is still low in comparison with the amount of subscribers who have registered for using online databases. Users did search for their research and study rather than for their teaching or professional knowledge update. Often they looked for journal articles and thesis rather than e-book. Key words and titles were used the most when searching. Reading the guidance from the library websites or from the databases was most used. This suggested that most users did not know how to use the databases and preferred to learn by themselves. Email was user preferred mean to communicate with library staff. English language and database searching skills were the biggest barriers preventing users from employing online database. Originality and implication: This paper provides the understanding of users‟ behaviors and suggests the necessity to assist users in using online databases in Vietnam universities. Up to now, these issues have not been known. They are relevant to improve the utilization of online databases

THEORETICAL ISSUES IN DIGITAL TRANSFORMATION AT HANOI METROPOLITAN UNIVERSITY IN THE CONTEXT OF THE 4.0 INDUSTRIAL REVOLUTION

People have mentioned more about digital transformation in the last few years, especially in the economic, business, and service sectors. In education, it is not until the Covid-19 pandemic breaks out on a global scale that stagnates all socio-economic activities students cannot come to school. Digital transformation is a process whose results can be a completely new educational appearance, with new methods, techniques, tools, and means. This article analyzes some theoretical and practical backgrounds in digital transformation activities nationally and internationally. At the same time, some orientations on the development plan of digital transformation activities at Hanoi Metropolitan University.  Keywords: Digital Transformation, 4.0 Industrial Revolution, Information Technology

CAMELLIA THUANANA (CAMELLIA SECT. CHRYSANTHA) – A NEW SPECIES FROM THE CENTRAL HIGHLANDS, VIETNAM

Camellia thuanana, a new species of the genus Camellia L. (Theaceae) is described and illustrated from the Central Highlands, Vietnam. Morphological features of this species are small flowers and pedicellate; leaves stalked, anastomosing venation, blades oblong-elliptic to elliptic, sparsely hirsute along the midrib below; pedicel very short; bracteoles 2–3, triangular; sepals 4–(5) in opposite pairs; corolla light greenish-yellow color; petals 7–8, glabrous; androecium 190–200 stamens, light yellow, in 3–4 circles; gynoecium 3, ovary ovoid and pubescent; styles 3, free to the base, and glabrous. C. thuanana resembles C. thuongiana in some morphological characteristics. C. thuanana is classified into sect. Chrysantha by styles completely free, flowers yellow, ovaries 3–5 locular, and partially connate. The IUCN Redlist Category of C. thuanana was assessed as Critically Endangered (CR)

Website Innovation Affects Student Satisfaction

University websites are more and more essential in communicating, exchanging information, providing educational services, and implementing marketing programs. Innovating the website is an important solution to improve the quality of educational services and attract students. This study was conducted to demonstrate the role of website innovation on student satisfaction. Research data were collected using quota sampling with 280 students studying at universities in Vietnam. Qualitative and quantitative research are used to test the research hypotheses. Applying structural equation modeling (SEM), the study shows that website innovation positively affects students’ perceived ease of use, perceived usefulness, and trust. Besides, perceived ease of use, perceived usefulness, and trust positively influence student satisfaction. This study has demonstrated that website innovation affects student satisfaction through the mediating role of perceived ease of use, perceived usefulness, and trust