Global and Regional Sources of Risk in Equity Markets: Evidence from Factor Models with Time-Varying Conditional Skewness

This study examines the influence of global and regional factors on the conditional distribution of stock returns from six Asian markets, using factor models in which unexpected returns comprise global, regional and local shocks. Besides conditional heteroskedasticity, the models allow shocks to have time-varying conditional skewness. The global factor appears less important for market volatility in models that permit time-varying conditional skewness. The influence of regional and global factors on risk is small in most of the markets, except in the late 1990s during which the regional factor accounted for a substantial portion of negative skewness in the markets' returns distribution.Asymmetries, Skewness, Volatility, Spillover, Stock returns

Global and Regional Sources of Risk in Equity Markets: Evidence from Factor Models with Time-Varying Conditional Skewness

We examine the influence of global and regional factors on the conditional distribution of stock returns from six Asian markets, using factor models in which unexpected returns comprise global, regional and local shocks. The models allow for conditional heteroskedasticity and time-varying conditional skewness, and permit mean, variance and skewness spillovers to be measured. We find that the pattern of spillovers changed in the late 1990s. When spillovers are allowed to vary with the type of news arriving in a market, we find that local news reduces mean spillovers but increases variance spillovers. News about regional countries increases skewness spilloversAsymmetries, Skewness, Volatility, Spillover, Stock returns, News.

Model of Driver of Fear-Induced Consumer Avoidance Behaviors Post-Incident

Abstract: The effects of the terrorist attacks of September 11, 2001 have drawn attention to the psychological consequences of national incidents. Psychological consequences are instantiated by changes in behavior. Changes in behavior can be significant, substantial, and can span a duration that would impact the economy, human safety, and/or infrastructure sectors. This paper describes likely drivers of what is termed “fear-induced avoidance behavior. ” Fear-induced avoidance behavior is behavior caused by fear or anxiety of an activity, which then causes avoidance of said activity—a prominent example being many people’s fear-induced avoidance of flying after the terrorist attacks of 11 September 2001. This paper presents a system dynamics model of the driving forces that induce fear avoidance and the forces that assist in system recovery. This model was not based on any specific historical incident to allow for application of the model to multiple types of incidents. Major components of this model include: Consumer needs; Risk perception; and Consumers ’ ability to substitute one activity for another (e.g., driving instead of flying). Through the use of the system dynamics framework the authors are able to provide potential non-intuitive policies that could assist in minimizing psychological consequences stemming from national incidents

Natural fiber reinforced poly(vinyl chloride) composites : a review.

Materials from renewable resources – also called biomaterials or ‘green’ materials – are presently gaining in importance worldwide. In these times of continuous increases in the price of crude oil and discussion of carbon dioxide (CO2) emissions, conventional plastics have reached a price level and a questionable image which promotes the search of alternatives. Natural fibers are a renewable natural resource and are biodegradable, which is an important characteristic for components that must be disposed of at the end of their useful life. They are recyclable and can be easily converted into thermal energy through combustion without leaving residue. In this study, we will discuss the natural fiber reinforced polyvinyl chloride composites, reinforcing effect, plasticization effect along with modification by coupling agents, properties, and applications based on composite materials. Also, the polyvinyl chloride-based composite materials with specific emphasis on effect of coupling agent, foamed polyvinyl chloride composites, and the effect of natural fiber reinforcement on its material properties will be reviewed. One of the best alternatives is natural fiber reinforced plastics composites. These are composites that are typically filled or reinforced with plant fibers, as well as plastics such as polyvinyl chloride or recently, even bioplastics

A Jatropha biomass as renewable materials for biocomposites and its applications.

This review deals with the study of Jatropha biomass as renewable materials for biocomposites and its applications. Jatropha curcas is a multipurpose plant with many attributes and considerable potential. Jatropha plant is cultivated worldwide but it has specific cultivation area in Central and South America, Africa, and South Asia. The Jatropha plant produces many useful products, especially the seed from which oil can be extracted. Extracted oil has similar properties to palm oil and possible to obtain many products after processing. As biomass, Jatropha plant can used as a reinforcement in biocomposite development. Jatropha contain high amount of carbon especially in seed/husk, fruit shell and seed cake and can be used as filler in composite fabrication in the form of carbon black and activated carbon.In this review, we will discuss the distribution of Jatropha around the globe, chemical composition of various parts and extracts of Jatropha and their mechanical and physical properties. We will also cover the use of Jatropha biomass in various technical and biocomposite applications. With the development of green technology, Jatropha latex can be reduced to nanoparticle size. The chemical and physical properties of Jatropha contribute to its applications in food and non-food Products

Complete genome sequence of Marinobacter adhaerens type strain (HP15), a diatom-interacting marine microorganism

Revista Open Access. Artículo con licencia Creative Commons Attribution. -- 11 páginas, 4 figuras, 4 tablas.Marinobacter adhaerens HP15 is the type strain of a newly identified marine species, which is phylogenetically related to M. flavimaris, M. algicola, and M. aquaeolei. It is of special interest for research on marine aggregate formation because it showed specific attachment to diatom cells. In vitro it led to exopolymer formation and aggregation of these algal cells to form marine snow particles. M. adhaerens HP15 is a free-living, motile, rod-shaped, Gram-negative Gammaproteobacterium, which was originally isolated from marine particles sampled in the German Wadden Sea. M. adhaerens HP15 grows heterotrophically on various media, is easy to access genetically, and serves as a model organism to investigate the cellular and molecular interactions with the diatom Thalassiosira weissflogii. Here we describe the complete and annotated genome sequence of M. adhaerens HP15 as well as some details on flagella-associated genes. M. adhaerens HP15 possesses three replicons; the chromosome comprises 4,422,725 bp and codes for 4,180 protein-coding genes, 51 tRNAs and three rRNA operons, while the two circular plasmids are ~187 kb and ~42 kb in size and contain 178 and 52 protein-coding genes, respectively.Peer reviewe