The impact of foreign trading information on emerging futures markets: a study of Taiwan's unique data set

Using a unique dataset from the Taiwan Futures Exchange, this paper investigates whether trading imbalances by foreign investors affect emerging Taiwan futures market in terms of returns and volatility. First, this evidence demonstrates a positive relation between contemporaneous futures returns and net purchases by foreign investors when other market factor effects are controlled. Second, this failure to detect price reversals is inconsistent with the price pressure hypothesis. Third, foreign investors do not exhibit positive feedback trading patterns. Fourth, a bi-directional Granger-causality relationship exists between futures volatility and foreign trading flows. As found for other stock or foreign exchange markets, our empirical results demonstrate that foreign trading flows do have impacts on the return and volatility of developing futures market, suggesting that trading by foreign investors may enhance the information flow of the local futures market.Foreign trading

Phase-encoded computer-generated-hologram implemented with liquid crystal television

ABSTRACT The advantages of phase-encoded computer-generated-hologram (CGH) are high diffraction efficiency and the ability to reconstruct images on-axis. These advantages are very fundamental and important for many applications. The implementation of phase-encoded CGH by using electrical-addressable liquid crystal television (LCTV) with pure phase-modulation provides the ability for programmable optical interconnections, optical neural systems, optical switches etc. In this paper we adopt the iterative Fourier transform algorithm to design a pure phase CGH. We also report the modulation characteristics of LCTV and its application for displaying the phase-encoded CGH. Criterions for evaluating the quality of output images are proposed

Neuroprotective Effect of Uncaria rhynchophylla in Kainic Acid-Induced Epileptic Seizures by Modulating Hippocampal Mossy Fiber Sprouting, Neuron Survival, Astrocyte Proliferation, and S100B Expression

Uncaria rhynchophylla (UR), which is a traditional Chinese medicine, has anticonvulsive effect in our previous studies, and the cellular mechanisms behind this are still little known. Because of this, we wanted to determine the importance of the role of UR on kainic acid- (KA-) induced epilepsy. Oral UR for 6 weeks can successfully attenuate the onset of epileptic seizure in animal tests. Hippocampal mossy fiber sprouting dramatically decreased, while neuronal survival increased with UR treatment in hippocampal CA1 and CA3 areas. Furthermore, oral UR for 6 weeks significantly attenuated the overexpression of astrocyte proliferation and S100B proteins but not γ-aminobutyric acid A (GABAA) receptors. These results indicate that oral UR for 6 weeks can successfully attenuate mossy fiber sprouting, astrocyte proliferation, and S100B protein overexpression and increase neuronal survival in KA-induced epileptic rat hippocampu

Test Targets 7.0: A Collaborative effort exploring the use of scientific methods for color imaging and process control

Test Targets is a culmination of teaching and learning that reflects quality and analytic aspects of printing systems and their optimization. The creation of the Test Targets publication is a total experience that reflects the innovation, problem solving, and teamwork of the diverse team of faculty, staff, students, and professionals responsible for its contents and production

Consecutive dual-vortex interactions between quadruple Typhoons Noru, Kulap, Nesat and Haitang during the 2017 North Pacific Typhoon season

© 2019 by the authors. This study utilizes remote sensing imagery, a differential averaging technique and empirical formulas (the \u27Liou-Liu formulas\u27) to investigate three consecutive sets of dual-vortex interactions between four cyclonic events and their neighboring environmental air flows in the Northwest Pacific Ocean during the 2017 typhoon season. The investigation thereby deepens the current understanding of interactions involving multiple simultaneous/sequential cyclone systems. Triple interactions between Noru-Kulap-Nesat and Noru-Nesat-Haitung were analyzed using geosynchronous satellite infrared (IR1) and IR3 water vapor (WV) images. The differential averaging technique based on the normalized difference convection index (NDCI) operator and filter depicted differences and generated a new set of clarified NDCI images. During the first set of dual-vortex interactions, Typhoon Noru experienced an increase in intensity and a U-turn in its direction after being influenced by adjacent cooler air masses and air flows. Noru\u27s track change led to Fujiwhara-type rotation with Tropical Storm Kulap approaching from the opposite direction. Kulap weakened and merged with Noru, which tracked in a counter-clockwise loop. Thereafter, in spite of a distance of 2000-2500 km separating Typhoon Noru and newly-formed Typhoon Nesat, the influence of middle air flows and jet flows caused an \u27indirect interaction\u27 between these typhoons. Evidence of this second interaction includes the intensification of both typhoons and changing track directions. The third interaction occurred subsequently between Tropical Storm Haitang and Typhoon Nesat. Due to their relatively close proximity, a typical Fujiwhara effect was observed when the two systems began orbiting cyclonically. The generalized Liou-Liu formulas for calculating threshold distances between typhoons successfully validated and quantified the trilogy of interaction events. Through the unusual and combined effects of the consecutive dual-vortex interactions, Typhoon Noru survived 22 days from 19 July to 9 August 2017 and migrated approximately 6900 km. Typhoon Noru consequently became the third longest-lasting typhoon on record for the Northwest Pacific Ocean. A comparison is made with long-lived Typhoon Rita in 1972, which also experienced similar multiple Fujiwhara interactions with three other concurrent typhoons

Resilience-enhancing solution to mitigate risk for sustainable supply chain-an empirical study of elevator manufacturing

As the complexity of supply chains increases, the enhancement of resilience for mitigating sustainable disruption risks in supply chains is an important issue. Quality function deployment (QFD) has been successfully applied in many domains to solve multicriteria decision-making (MCDM) problems. However, research on developing two houses of quality to connect sustainable supply chain disruption risks, resilience capacities, and resilience-enhancing features in elevator manufacturing supply chains by using the MCDM approach is lacking. This study aims to develop a framework for exploring useful decision-making by integrating the MCDM approach and QFD. By applying the framework, supply chain resilience can be improved by identifying the major sustainable risks and the key resilience to mitigate these risks. Important managerial insights and practical implications are obtained from the framework implementation in a case study of the elevator manufacturing industry. To strengthen resilience and thus mitigate key risks, the most urgent tasks are to connect the working site and the backstage to enhance product development and design and to share real-time job information. When these features are strengthened, agility, capacity, and visibility can be improved. Finally, unexpected events lead to changes in supplier delivery dates, and factors such as typhoon and lack of critical capacities/skilled employees with the greatest impact can be alleviated. This framework will provide an effective and pragmatic approach for constructing sustainable supply chain risk resilience in the elevator manufacturing industry.</p

Donorâ Acceptorâ Acceptor’s Molecules for Vacuumâ Deposited Organic Photovoltaics with Efficiency Exceeding 9%

Three vacuumâ deposited donorâ acceptorâ acceptor (dâ aâ a’) small molecule donors are studied with different side chains attached to an asymmetric heterotetracene donor block for use in high efficiency organic photovoltaics (OPVs). The donor with an isobutyl side chain yields the highest crystal packing density compared to molecules with 2â ethylhexyl or nâ butyl chains, leading to the largest absorption coefficient and short circuit current in an OPV. It also exhibits a higher fill factor, consistent with its preferred outâ ofâ plane molecular Ï â Ï stacking arrangement that facilitates charge transport in the direction perpendicular to the substrate. A power conversion efficiency of 9.3 ± 0.5% is achieved under 1 sun intensity, AM 1.5 G simulated solar illumination, which is significantly higher than 7.5 ± 0.4% of the other two molecules. These results indicate that side chain modification of dâ aâ a’ small molecules offers an effective approach to control the crystal packing configuration, thereby improving the device performance.Three vacuumâ deposited donorâ acceptorâ acceptor’s small molecule donors with different alkyl chain configurations (R1â R3) are synthesized and characterized to understand the side chain effect on organic photovoltaic (OPV) performance. The donor with an isobutyl (R3) chain yields the highest crystal packing density and largest short circuit current among the three molecules. Its preferred faceâ on molecular stacking orientation on the substrate leads to the highest fill factor. The optimized OPV structure achieves a power conversion efficiency (PCE) = 9.3 ± 0.5%.Peer Reviewedhttps://deepblue.lib.umich.edu/bitstream/2027.42/144608/1/aenm201703603.pdfhttps://deepblue.lib.umich.edu/bitstream/2027.42/144608/2/aenm201703603-sup-0001-S1.pdfhttps://deepblue.lib.umich.edu/bitstream/2027.42/144608/3/aenm201703603_am.pd

Nanoparticles prepared from the water extract of Gusuibu (Drynaria fortunei J. Sm.) protects osteoblasts against insults and promotes cell maturation

Our previous study showed that Gusuibu (Drynaria fortunei J. Sm.) can stimulate osteoblast maturation. This study was further designed to evaluate the effects of nanoparticles prepared from the water extract of Gusuibu (WEG) on osteoblast survival and maturation. Primary osteoblasts were exposed to 1, 10, 100, and 1000 μg/mL nanoparticles of WEG (nWEG) for 24, 48, and 72 hours did not affect morphologies, viability, or apoptosis of osteoblasts. In comparison, treatment of osteoblasts with 1000 μg/mL WEG for 72 hours decreased cell viability and induced DNA fragmentation and cell apoptosis. nWEG had better antioxidant bioactivity in protecting osteoblasts from oxidative and nitrosative stress-induced apoptosis than WEG. In addition, nWEG stimulated greater osteoblast maturation than did WEG. Therefore, this study shows that WEG nanoparticles are safer to primary osteoblasts than are normal-sized products, and may promote better bone healing by protecting osteoblasts from apoptotic insults, and by promoting osteogenic maturation

Inhibition of yes-associated protein suppresses brain metastasis of human lung adenocarcinoma in a murine model.

Yes-associated protein (YAP) is a main mediator of the Hippo pathway and promotes cancer development and progression in human lung cancer. We sought to determine whether inhibition of YAP suppresses metastasis of human lung adenocarcinoma in a murine model. We found that metastatic NSCLC cell lines H2030-BrM3(K-rasG12C mutation) and PC9-BrM3 (EGFRΔexon19 mutation) had a significantly decreased p-YAP(S127)/YAP ratio compared to parental H2030 (K-rasG12C mutation) and PC9 (EGFRΔexon19 mutation) cells (P&nbsp;&lt;&nbsp;.05). H2030-BrM3 cells had significantly increased YAP mRNA and expression of Hippo downstream genes CTGF and CYR61 compared to parental H2030 cells (P&nbsp;&lt;&nbsp;.05). Inhibition of YAP by short hairpin RNA (shRNA) and small interfering RNA (siRNA) significantly decreased mRNA expression in downstream genes CTGF and CYR61 in H2030-BrM3 cells (P&nbsp;&lt;&nbsp;.05). In addition, inhibiting YAP by YAP shRNA significantly decreased migration and invasion abilities of H2030-BrM3 cells (P&nbsp;&lt;&nbsp;.05). We are first to show that mice inoculated with YAP shRNA-transfected H2030-BrM3 cells had significantly decreased metastatic tumour burden and survived longer than control mice (P&nbsp;&lt;&nbsp;.05). Collectively, our results suggest that YAP plays an important role in promoting lung adenocarcinoma brain metastasis and that direct inhibition of YAP by shRNA suppresses H2030-BrM3 cell brain metastasis in a murine model