Essays in empirical finance

This dissertation is a collection of three chapters on the unconventional monetary policy effects and the term structure of corporate bond and equity risk premia. The first chapter sheds light on the impact of the recent European Central Bank lending policies on the financial sector stability. The key finding is that the central bank interventions reduced the fragility of the banking sector, predominantly by reducing the severity and prevalence of bank-run equilibria. The second chapter provides a new implied estimate of the term structure of corporate bond risk premia. The main result is that the maturity-matched risk premium is increasing with maturity, in line with most canonical asset pricing models; however, the cross-sectional sorts reveal a high degree of heterogeneity in the term structure slope. Finally, the third chapter proposes a novel methodology to estimate the term structure of equity term structure for any cross-sectional portfolio. The method documents similar qualitative patterns for equities as the second chapter presents for corporate bonds

Diseño e implementación de una aplicación web para la autogestión de un despacho de arquitectura

[ES] Con este trabajo final de grado se pretende diseñar e implementar un sistema autogestionable para un estudio de arquitectura. El sistema consistirá en tres aplicaciones web. Las dos primeras, con diseños diferentes, servirán para presentar los proyectos de arquitectura, con imágenes de los planos, información de sus características, información del despacho de arquitectura y la posibilidad de contactar vía un formulario. La tercera aplicación web será un panel de administrador que sólo podrá ser accedido por los dueños del despacho y será utilizado para crear, modificar y borrar los proyectos mostrados en las páginas mencionadas anteriormente. Desde el panel de administrador se podrán subir fotos y planos de las construcciones, describir las características de los proyectos arquitectónicos, cambiar el orden de visualización de los proyectos en las páginas y consultar las peticiones enviadas a través de los formularios de cliente.[CA] Amb aquest treball final de grau es pretén dissenyar i implementar un sistema autogestionable per a un estudi d’arquitectura. El sistema consistirà en tres aplicacions web. Les dues primeres, amb dissenys diferents, serviran per presentar els projectes d’arquitectura, amb imatges dels plànols, informació de les seves característiques, informació de l’despatx d’arquitectura i la possibilitat de contactar via un formulari. La tercera aplicació web serà un panell d’administrador que només podrà ser accedit pels propietaris de l’- despatx, i serà utilitzat per a crear, modificar, esborrar els projectes mostrats a les pàgines esmentades anteriorment. Des del panell d’administrador es podran pujar fotos i plànols de les construccions, descriure les característiques dels projectes arquitectònics, canviar l’ordre de visualització dels projectes a les pàgines i consultar les peticions enviades a través dels formularis de client.[EN] With this final degree project we intended to implement a self-manageable system for an architecture studio. The system will consist of three web applications. The first two, with different designs, will serve the purpose of listing architecture projects (with images of house projects, their information and characteristics). The websites will also contain information on the architecture office and the possibility of contacting through a web form. The third web application will be an administrator panel that can only be accessed by the owners of the studio, and will be used to create, modify, delete the projects shown in the previously mentioned web sites. From the administrator panel it will be possible to upload photos and plans of the buildings, describe the characteristics of the architectural projects, change the order in which the projects are displayed on the web sites and consult the questions sent through the customer web forms.Jankauskas, T. (2021). Diseño e implementación de una aplicación web para la autogestión de un despacho de arquitectura. Universitat Politècnica de València. http://hdl.handle.net/10251/174108TFG

Study of carrier dynamics in ingan/gan quantum well structures with superlattice layer

Study of Carrier Dynamics in InGaN/GaN Quantum Well Structures with Superlattice Laye

Programming and the optimal trajectory preference of an intelligent manipulator model

Nagrinėjant manipuliatoriaus atvirkštinės kinematikos uždavinius, būtina apskaičiuoti lanksčiai sujungtų svirčių trajektorijas, atsižvelgiant į objekto koordinačių kitimo dėsningumus. Eksperimentiniam tyrimui sukonstruoto ir pagaminto manipuliatoriaus modelio kinematikos lygčių užrašymas ir jų analizė suteikia galimybę sudaryti programavimo algoritmą svirčių kampų skaičiavimui ir judančiųjų dalių trajektorijos optimizavimui, siekiant sumažinti kelio ilgį ir efektyviau panaudoti manipuliatoriaus variklius.Abstract. Analysis of manipulator inverse kinematics needs for compiling of arm movement equations which allow specifying requirements with the view of the optimized trajectory and more effective usage of stepper motors. The thoughtful research enabled to create an algorithm for computation of angles of the arms by taking into account the conditions determined by experimental model of timber log manipulator. Keywords: manipulator, inverse kinematics, trajectory optimization, stepper motors

Initial digital filtering of testing signals of high-speed DAC

Results of investigation of the digital processing algorithm for processing test signal of DAC settling time measurement are presented. It is shown that the highest influence to the measurement errors is generated by the internal noises of sampling head. Initial filtering of test signal is proposed. Spectrum components of test signal and noises are separated by generating digital pseudo-periodic test signal out of n test signal realizations and internal noise signal realizations. It is shown that standard high-pass filters are not feasible for filtering test signals because of tough requirements set to distortions of test signal. Algorithm for digital filter has been developed. It is shown by experiments that the frequency „fork” digital filter is effectively reducing low-frequency internal noises of the sampling head in the test signal

Takotsubo cardiomyopathy: The challenging diagnosis in clinical routine

Takotsubo cardiomyopathy is rapidly reversible heart failure syndrome that usually mimics the symptoms of acute myocardial infarction with the characteristic regional wall-motion abnormalities (classically with a virtual apical ballooning caused by hypokinetic or akinetic apical or midventricular myocardium and hypercontraction of the basal segments) and absence of obstructive coronary artery disease. TC is usually associated with identifiable emotional, psychological or physical stress event and most commonly appears in postmen- opausal women. The certain pathophysiological mechanism remains unknown. However, the central hypothesis is supported by the excess of catecholamines and hyperactivity of nervous system. In the last decades the frequency of the TC diagnosis is increasing rapidly but at the initial presentation the diagnosis remains challenging due to the close similarities between TC and ST elevation myocardial infarction clinical presentations that consider TC as an important part of differential diagnosis in acute coronary syndrome

Dot-Matrix Hologram Rendering Algorithm and its Validation through Direct Laser Interference Patterning

Abstract The fight against forgery of valuable items demands efficient and reasonably priced solutions. A security tag featuring holographic elements for anti-counterfeiting is one of them. However, the content and colours of a diffraction image that would be seen by an observer are often counterintuitive in the design stage. Here, we propose an original algorithm based on the conical diffraction formalism, which can be used to describe the variations of a diffraction image with respect to all aspects of observation. We validate the output of the algorithm by comparing it to test holograms, which we have produced by employing direct laser interference patterning (DLIP) in electrochemically grown nickel foil. We have employed a motorized femtosecond laser system to micro-machine arrays of 65 µm × 65 µm sized diffraction gratings with a defined orientation and pitch on the order of 1 µm. Based on completed diffraction efficiency measurements, we determined optimal ablation parameters, i.e. 57.4 mJ/cm2 fluence per pulse and 1100 pulses/pixel. Furthermore, we show how accurate the proposed algorithm is through measured diffraction spectra as well as captured diffraction images of test holograms produced using the obtained parameters. Finally, we showcase anti-counterfeiting tag prototypes with complex holographic effects, i.e. colour reconstruction, animation effects, and image multiplexing. The proposed algorithm can severely shorten the time between design and production of a holographic tag, especially when realizing it via a competitive origination technology—DLIP

Passivating Defects of Perovskite Solar Cells with Functional Donor-Acceptor-Donor Type Hole Transporting Materials

In this study, a series of donor-acceptor-donor (D-A-D) type small molecules based on the fluorene and diphenylethenyl enamine units, which are distinguished by different acceptors, as holetransporting materials (HTMs) for perovskite solar cells is presented. The incorporation of the malononitrile acceptor units is found to be beneficial for not only carrier transportation but also defects passivation via Pb-N interactions. The highest power conversion efficiency of over 22% is achieved on cells based on V1359, which is higher than that of spiro-OMeTAD under identical conditions. This st shows that HTMs prepared via simplified synthetic routes are not only a low-cost alternative to spiro-OMeTAD but also outperform in efficiency and stability state-of-art materials obtained via expensive cross-coupling methods