Portfolio performance across genders and generations : the role of financial innovation

Using a unique dataset on the trading transaction records of private investors from Sweden, we explore the role of gender and age in the use of Exchange Traded Products (ETPs), considered to be innovative investment products, with respect to implications for portfolio performance. We show evidence that investors perform better when trading and investing in mutual funds, but younger investors may be relatively more skillful users of ETPs. We also find that older men and women trade more actively, although they also show a better investment performance, and we emphasize that age and gender are very different demographic determinants of investor behavior and performance.fi=vertaisarvioitu|en=peerReviewed

Intelligent Database Architecture for High-Integrity Urban Navigation

Accuracy, integrity and availability requirements are very stringent in urban navigation and autonomous driving. The GNSS sensor is the only one that provides self-localisation in a global coordinate system. The challenge ist to model non line-of-sight (NLOS) and multipath scenarios in urban areas. To meeth the high accuracy requirements, these distortions has to be known and corrected. Ray-tracing approaches are real-time capable but require a high computational load. The vision for this contribution is the correction of GNSS multipath for relaiable autonomous localisation of highly automated vehicles using an intelligent database structure

Von der ko-kreativen Stadtentwicklung bis zum Transfer

Welche Bedarfe, Ideen und Lösungen sehen hochqualifizierte Migrant/innen für eine nachhaltigeStadtentwicklung? Inwiefern eignet sich Urban Design Thinking als ko-kreative Methode und Impuls für städtische Transformationsprozesse? In einem Fallbeispiel in Mannheim wurden ersteAnsätze erprobt

Residual Kondo effect in quantum dot coupled to half-metallic ferromagnets

We study the Kondo effect in a quantum dot coupled to half-metallic ferromagnetic electrodes in the regime of strong on-dot correlations. Using the equation of motion technique for nonequilibrium Green functions in the slave boson representation we show that the Kondo effect is not completely suppressed for anti-parallel leads magnetization. In the parallel configuration there is no Kondo effect but there is an effect associated with elastic cotunneling which in turn leads to similar behavior of the local (on-dot) density of states (LDOS) as the usual Kondo effect. Namely, the LDOS shows the temperature dependent resonance at the Fermi energy which splits with the bias voltage and the magnetic field. Moreover, unlike for non-magnetic or not fully polarized ferromagnetic leads the only minority spin electrons can form such resonance in the density of states. However, this resonance cannot be observed directly in the transport measurements and we give some clues how to identify the effect in such systems.Comment: 15 pages, 8 figures, accepted for publication in J. Phys.: Condens. Mat

Supergravities without an Action: Gauging the Trombone

We present a systematic account of supergravity theories in which the global scaling symmetry is gauged. This generalizes the standard gaugings of non-abelian off-shell symmetries. A particular feature of these theories is an additional positive contribution to the effective cosmological constant. As the scaling symmetry is an on-shell symmetry, the resulting gaugings do no longer possess an action. We develop the algebraic framework for the maximal theories in various dimensions and construct explicit solutions to the algebraic consistency constraints - related to `pure-spinor-like' structures for the exceptional groups. As an example, we explicitly work out the modified supersymmetry transformation rules and equations of motion in three dimensions. Finally, we speculate about the role of these theories from the perspective of very extended Kac-Moody algebras.Comment: 40 pages; v2: refs added, minor corrections, version to be published in NP

Functional association of the stress-responsive LiaH protein and the minimal TatAyCy protein translocase in Bacillus subtilis

The bacterial twin-arginine (Tat) pathway serves in the exclusive secretion of folded proteins with bound co-factors. While Tat pathways in Gram-negative bacteria and chloroplast thylakoids consist of conserved TatA, TatB and TatC subunits, the Tat pathways of Bacillus species and many other Gram-positive bacteria stand out for their minimalist nature with the core translocase being composed of essential TatA and TatC subunits only. Here we addressed the question whether the minimal TatAyCy translocase of Bacillus subtilis recruits additional cellular components that modulate its activity. To this end, TatAyCy was purified by affinity- and size exclusion chromatography, and interacting co-purified proteins were identified by mass spectrometry. This uncovered the cell envelope stress responsive LiaH protein as an accessory subunit of the TatAyCy complex. Importantly, our functional studies show that Tat expression is tightly trailed by LiaH induction, and that LiaH itself determines the capacity and quality of TatAyCy-dependent protein translocation. In contrast, LiaH has no role in high-level protein secretion via the general secretion (Sec) pathway. Altogether, our observations show that protein translocation by the minimal Tat translocase TatAyCy is tightly intertwined with an adequate bacterial response to cell envelope stress. This is consistent with a critical need to maintain cellular homeostasis, especially when the membrane is widely opened to permit passage of large fully-folded proteins via Tat

A novel de novo TBX5 mutation in a patient with Holt-Oram syndrome leading to a dramatically reduced biological function

BACKGROUND: The Holt-Oram syndrome (HOS) is an autosomal dominant disorder affecting 1/100.000 live births. It is defined by upper limb anomalies and congenital heart defects with variable severity. We describe a dramatic phenotype of a male, 15-month-old patient being investigated for strict diagnostic criteria of HOS. ----- METHODS AND RESULTS: Genetic analysis revealed a so far unpublished TBX5 mutation, which occurs de novo in the patient with healthy parents. TBX5 belongs to the large family of T-box transcription factors playing major roles in morphogenesis and cell-type specification. The mutation located in the DNA-binding domain at position 920 (C→A) leads to an amino acid change at position 85 (proline → threonine). Three-dimensional analysis of the protein structure predicted a cis to trans change in the respective peptide bond, thereby probably provoking major conformational and functional alterations of the protein. The p.Pro85Thr mutation showed a dramatically reduced activation (97%) of the NPPA promoter in luciferase assays and failed to induce NPPA expression in HEK 293 cells compared to wild-type TBX5 protein. The mutation did not interfere with the nuclear localization of the protein. ----- CONCLUSION: These results suggest that the dramatic functional alteration of the p.Pro85Thr mutation leads to the distinctive phenotype of the patient

Defining and controlling double quantum dots in single-walled carbon nanotubes

We report the experimental realization of double quantum dots in single-walled carbon nanotubes. The device consists of a nanotube with source and drain contact, and three additional top-gate electrodes in between. We show that, by energizing these top-gates, it is possible to locally gate a nanotube, to create a barrier, or to tune the chemical potential of a part of the nanotube. At low temperatures we find (for three different devices) that in certain ranges of top-gate voltages our device acts as a double quantum dot, evidenced by the typical honeycomb charge stability pattern.Comment: 9 pages, 3 figure

Spin effects in single electron tunneling

An important consequence of the discovery of giant magnetoresistance in metallic magnetic multilayers is a broad interest in spin dependent effects in electronic transport through magnetic nanostructures. An example of such systems are tunnel junctions -- single-barrier planar junctions or more complex ones. In this review we present and discuss recent theoretical results on electron and spin transport through ferromagnetic mesoscopic junctions including two or more barriers. Such systems are also called ferromagnetic single-electron transistors. We start from the situation when the central part of a device has the form of a magnetic (or nonmagnetic) metallic nanoparticle. Transport characteristics reveal then single-electron charging effects, including the Coulomb staircase, Coulomb blockade, and Coulomb oscillations. Single-electron ferromagnetic transistors based on semiconductor quantum dots and large molecules (especially carbon nanotubes) are also considered. The main emphasis is placed on the spin effects due to spin-dependent tunnelling through the barriers, which gives rise to spin accumulation and tunnel magnetoresistance. Spin effects also occur in the current-voltage characteristics, (differential) conductance, shot noise, and others. Transport characteristics in the two limiting situations of weak and strong coupling are of particular interest. In the former case we distinguish between the sequential tunnelling and cotunneling regimes. In the strong coupling regime we concentrate on the Kondo phenomenon, which in the case of transport through quantum dots or molecules leads to an enhanced conductance and to a pronounced zero-bias Kondo peak in the differential conductance.Comment: topical review (36 figures, 65 pages), to be published in J. Phys.: Condens. Matte

Charge Solitons in 1-D Arrays of Serially Coupled Josephson Junctions

We study a 1-D array of Josephson coupled superconducting grains with kinetic inductance which dominates over the Josephson inductance. In this limit the dynamics of excess Cooper pairs in the array is described in terms of charge solitons, created by polarization of the grains. We analyze the dynamics of these topological excitations, which are dual to the fluxons in a long Josephson junction, using the continuum sine-Gordon model. We find that their classical relativistic motion leads to saturation branches in the I-V characteristic of the array. We then discuss the semi-classical quantization of the charge soliton, and show that it is consistent with the large kinetic inductance of the array. We study the dynamics of a quantum charge soliton in a ring-shaped array biased by an external flux through its center. If the dephasing length of the quantum charge soliton is larger than the circumference of the array, quantum phenomena like persistent current and coherent current oscillations are expected. As the characteristic width of the charge soliton is of the order of 100 microns, it is a macroscopic quantum object. We discuss the dephasing mechanisms which can suppress the quantum behaviour of the charge soliton.Comment: 26 pages, LaTex, 7 Postscript figure