76 research outputs found
THE IMPACT OF SINGLE STOCK FUTURES ON SPOT PRICE VOLATILITY OF UNDERLYING STOCK IN THE STOCK EXCHANGE OF THAILAND DURING 2006 - 2012
The impact of the Stock Futures Trading to spot market has been considered by many countries all around the world. The debate on whether Stock Futures destabilizes or stabilizes the spot market has been well established in the developed market and emerging market on the Stock Index level. This research aims to examine the impact of the introduction of the Single Stock Futures on the volatility of the underlying equity in the Stock Exchange of Thailand from year 2006 to 2012, using the GARCH model. Based on (GARCH 1,1) model analysis, this study showed the introduction of Single Stock Futures stabilized the spot market volatility in Thailand. The coefficient γ of all 11 stocks shows a statistically significant level. Additionally, the SET Index was included and set up another model to test as another factor that causes volatility and found post-futures period volatility in the spot market decreased after an introduction of Single Stock Futures trading. In conclusion, the introduction of Single Stock Futures trading decreases the spot price volatility in the market. By considering (SET) as market factors, the results also found most Single Stock Futures trading also decreases the spot price volatility
Auction-based decision making for distributed real-time control of flexible manufacturing systems
The study presents the development, implementation, and benchmarking of two auction-based decision making models in a distributed real-time control framework for random flexible manufacturing systems. The framework applies an auction mechanism for facilitating part allocation on machine tools based on an exchange economy. Two auction models have been implemented. The first model, Modified Sealed-Bid auction, is built on seal-bid auction with the addition of iterative behavior. Parts and machines are represented by agents. The fundamental motivation of each agent in the system is to increase the reward. The Modified Sealed-Bid auction model has been benchmarked against typical dispatching rules using simulation in order to evaluate its performance. The simulation results indicate that the framework outperforms the dispatching rules on most of the performance measures.
The second auction model is built on the ascending auction concept in which part agents alternately bid on preferred machines and compete on the basis of increasing price. Valuation function is used as a reward indication in order to facilitate the auction. The Ascending Auction model has also been tested using the same simulation model and the performance of the two auction models has been compared using additional production scenarios. Simulation results reveal that the performance patterns of the two auction models vary. Both models have different strengths and weaknesses under different production scenarios. In conclusion, both simulation studies indicate that the proposed auction-based models have proven to be effective decision making tools in distributed real-time control of random flexible manufacturing systems --Abstract, page iii
Business performance in Thailand before and after the 1997 financial crisis
http://www.baf.cuhk.edu.hk/asia%2Daom/index.htm
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Nuclear level structure of ¹⁰¹Ru from the 14.0 minute ¹⁰¹Tc decay
The nuclear level structure of ¹⁰¹Ru has been investigated
through the decay of 14.0 minute ¹⁰¹Tc produced by thermal neutron
irradiation of molybdenum targets. Gamma-ray energies and relative
intensities have been measured with the high resolution Ge(Li) spectrometers.
Based on the energy sum and the intensity balancing, a
consistent level scheme of ¹⁰¹Ru is proposed. Origins of spin-parity of the levels in ¹⁰¹Ru are discussed on the ground of de-Shalit weak
coupling core excitation model. The results of this study are compared
with the recent extended quasiparticle phonon coupling calculations.
The gamma-ray energies and relative intensities emitted in the
decay of 14.6 minute ¹⁰¹Mo have also been measured. Several new
gamma transitions and level energies have been observed, and a new
level scheme of ¹⁰¹Tc is proposed
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