A STOCHASTIC MODELING FOR THE UNSTABLE FINANCIAL MARKETS

Considering the present economic context, the measurement of performances has become a permanent preoccupation for organizations, since the whole process is based on it, offering the necessary feedback to identify both the positive actions which have led to favorable results for the organization, and the negative ones, in order to correct them in the future. To do this, we have to measure what is most importantly to measure. Starting from these considerations, the present paper approaches from a theoretical and practical point of view the economic rate of return as the indicator which synthesizes best an organization’s financial-economic performance. We have calculated and analyzed the economic rate of return for a group of Ten Romanian Firms in the food industry, through different calculation relations, pointing out the advantages/disadvantages of each calculation method.belated integral, forward-backward stochastic equations, pathwise uniqueness, financial modeling.

Color and stellar population gradients in galaxies. Correlation with mass

We analyze the color gradients (CGs) of ~50000 nearby SDSS galaxies. From synthetic spectral models based on a simplified star formation recipe, we derive the mean spectral properties, and explain the observed radial trends of the color as gradients of the stellar population age and metallicity (Z). The most massive ETGs (M_* > 10^{11} Msun) have shallow CGs in correspondence of shallow (negative) Z gradients. In the stellar mass range 10^(10.3-10.5) < M_* < 10^(11) Msun, the Z gradients reach their minimum of ~ -0.5 dex^{-1}. At M_* ~ 10^{10.3-10.5} Msun, color and Z gradient slopes suddenly change. They turn out to anti-correlate with the mass, becoming highly positive at the very low masses. We have also found that age gradients anti-correlate with Z gradients, as predicted by hierarchical cosmological simulations for ETGs. On the other side, LTGs have gradients which systematically decrease with mass (and are always more negative than in ETGs), consistently with the expectation from gas infall and SN feedback scenarios. Z is found to be the main driver of the trend of color gradients, especially for LTGs, but age gradients are not negligible and seem to play a significant role too. We have been able to highlight that older galaxies have systematically shallower age and Z gradients than younger ones. Our results for high-mass galaxies are in perfect agreement with predictions based on the merging scenario, while the evolution of LTGs and younger and less massive ETGs seems to be mainly driven by infall and SN feedback. (Abridged)Comment: 20 pages, 16 figures, accepted for publication on MNRAS. This version includes revisions after the referee's report

Measurement of the Spectroscopy of Orbitally Excited B Mesons at LEP

We measure the masses, decay widths and relative production rate of orbitally excited B mesons using 1.25 million hadronic Z decays recorded by the L3 detector. B-meson candidates are inclusively reconstructed and combined with charged pions produced at the primary event vertex. An excess of events above the expected background in the B\pi mass spectrum in the region 5.6-5.8 GeV is interpreted as resulting from the decay B_u,d^** -> B^(*)\pi, where B_u,d^** denotes a mixture of l=1 B-meson states containing a u or a d quark. A fit to the mass spectrum yields the masses and decay widths of the B_1^* and B_2^* spin states, as well as the branching fraction for the combination of l=1 states. In addition, evidence is presented for the existence of an excited B-meson state or mixture of states in the region 5.9-6.0 GeV

Search for Charged Higgs Bosons in e+e- Collisions at \sqrt{s} = 189 GeV

A search for pair-produced charged Higgs bosons is performed with the L3 detector at LEP using data collected at a centre-of-mass energy of 188.6 GeV, corresponding to an integrated luminosity of 176.4 pb^-1. Higgs decays into a charm and a strange quark or into a tau lepton and its associated neutrino are considered. The observed events are consistent with the expectations from Standard Model background processes. A lower limit of 65.5 GeV on the charged Higgs mass is derived at 95 % confidence level, independent of the decay branching ratio Br(H^{+/-} -> tau nu)

Search for direct production of charginos and neutralinos in events with three leptons and missing transverse momentum in √s = 7 TeV pp collisions with the ATLAS detector

A search for the direct production of charginos and neutralinos in final states with three electrons or muons and missing transverse momentum is presented. The analysis is based on 4.7 fb−1 of proton–proton collision data delivered by the Large Hadron Collider and recorded with the ATLAS detector. Observations are consistent with Standard Model expectations in three signal regions that are either depleted or enriched in Z-boson decays. Upper limits at 95% confidence level are set in R-parity conserving phenomenological minimal supersymmetric models and in simplified models, significantly extending previous results

Measurement of χ c1 and χ c2 production with s√ = 7 TeV pp collisions at ATLAS

The prompt and non-prompt production cross-sections for the χ c1 and χ c2 charmonium states are measured in pp collisions at s√ = 7 TeV with the ATLAS detector at the LHC using 4.5 fb−1 of integrated luminosity. The χ c states are reconstructed through the radiative decay χ c → J/ψγ (with J/ψ → μ + μ −) where photons are reconstructed from γ → e + e − conversions. The production rate of the χ c2 state relative to the χ c1 state is measured for prompt and non-prompt χ c as a function of J/ψ transverse momentum. The prompt χ c cross-sections are combined with existing measurements of prompt J/ψ production to derive the fraction of prompt J/ψ produced in feed-down from χ c decays. The fractions of χ c1 and χ c2 produced in b-hadron decays are also measured

Performance of CMS muon reconstruction in pp collision events at sqrt(s) = 7 TeV

The performance of muon reconstruction, identification, and triggering in CMS has been studied using 40 inverse picobarns of data collected in pp collisions at sqrt(s) = 7 TeV at the LHC in 2010. A few benchmark sets of selection criteria covering a wide range of physics analysis needs have been examined. For all considered selections, the efficiency to reconstruct and identify a muon with a transverse momentum pT larger than a few GeV is above 95% over the whole region of pseudorapidity covered by the CMS muon system, abs(eta) < 2.4, while the probability to misidentify a hadron as a muon is well below 1%. The efficiency to trigger on single muons with pT above a few GeV is higher than 90% over the full eta range, and typically substantially better. The overall momentum scale is measured to a precision of 0.2% with muons from Z decays. The transverse momentum resolution varies from 1% to 6% depending on pseudorapidity for muons with pT below 100 GeV and, using cosmic rays, it is shown to be better than 10% in the central region up to pT = 1 TeV. Observed distributions of all quantities are well reproduced by the Monte Carlo simulation.Comment: Replaced with published version. Added journal reference and DO

Measurement of the production of a W boson in association with a charm quark in pp collisions at √s = 7 TeV with the ATLAS detector

The production of a W boson in association with a single charm quark is studied using 4.6 fb−1 of pp collision data at s√ = 7 TeV collected with the ATLAS detector at the Large Hadron Collider. In events in which a W boson decays to an electron or muon, the charm quark is tagged either by its semileptonic decay to a muon or by the presence of a charmed meson. The integrated and differential cross sections as a function of the pseudorapidity of the lepton from the W-boson decay are measured. Results are compared to the predictions of next-to-leading-order QCD calculations obtained from various parton distribution function parameterisations. The ratio of the strange-to-down sea-quark distributions is determined to be 0.96+0.26−0.30 at Q 2 = 1.9 GeV2, which supports the hypothesis of an SU(3)-symmetric composition of the light-quark sea. Additionally, the cross-section ratio σ(W + +c¯¯)/σ(W − + c) is compared to the predictions obtained using parton distribution function parameterisations with different assumptions about the s−s¯¯¯ quark asymmetry

Jet energy measurement with the ATLAS detector in proton-proton collisions at root s=7 TeV

The jet energy scale and its systematic uncertainty are determined for jets measured with the ATLAS detector at the LHC in proton-proton collision data at a centre-of-mass energy of √s = 7TeV corresponding to an integrated luminosity of 38 pb-1. Jets are reconstructed with the anti-kt algorithm with distance parameters R=0. 4 or R=0. 6. Jet energy and angle corrections are determined from Monte Carlo simulations to calibrate jets with transverse momenta pT≥20 GeV and pseudorapidities {pipe}η{pipe}<4. 5. The jet energy systematic uncertainty is estimated using the single isolated hadron response measured in situ and in test-beams, exploiting the transverse momentum balance between central and forward jets in events with dijet topologies and studying systematic variations in Monte Carlo simulations. The jet energy uncertainty is less than 2. 5 % in the central calorimeter region ({pipe}η{pipe}<0. 8) for jets with 60≤pT<800 GeV, and is maximally 14 % for pT<30 GeV in the most forward region 3. 2≤{pipe}η{pipe}<4. 5. The jet energy is validated for jet transverse momenta up to 1 TeV to the level of a few percent using several in situ techniques by comparing a well-known reference such as the recoiling photon pT, the sum of the transverse momenta of tracks associated to the jet, or a system of low-pT jets recoiling against a high-pT jet. More sophisticated jet calibration schemes are presented based on calorimeter cell energy density weighting or hadronic properties of jets, aiming for an improved jet energy resolution and a reduced flavour dependence of the jet response. The systematic uncertainty of the jet energy determined from a combination of in situ techniques is consistent with the one derived from single hadron response measurements over a wide kinematic range. The nominal corrections and uncertainties are derived for isolated jets in an inclusive sample of high-pT jets. Special cases such as event topologies with close-by jets, or selections of samples with an enhanced content of jets originating from light quarks, heavy quarks or gluons are also discussed and the corresponding uncertainties are determined. © 2013 CERN for the benefit of the ATLAS collaboration