INNOVATIVE METHODS TO MEASURE THE MARKET RISK OF THE FOREX MARKET

The impact of market risk on the performance of economic agents is significant. The focus of this study is on the various models and techniques to quantify the market risk of the FOREX market. The results from the empirical testing of Monte Carlo simulation models, VaR, CVaR, MVaR, VaR historical simulation, and Delta Normal VaR indicate the presence of market risk in the Foreign exchange market. Of these models, the simulation model is the best measure of market risk. Historical simulation and Delta Normal VaR, on the other hand, help diversify risk by building investment portfolios

DESIGNING THE INVESTMENT PROFILE OF THE SHARES TRADED ON THE BULGARIAN STOCK EXCHANGE IN THE PERIOD FROM AUGUST 2016 TO DECEMBER 2017

The analysis of shares performance is normally focused on risk and yield, while the third investment parameter, market liquidity, is usually ignored. In contrast to the world’s biggest stock exchanges where market liquidity is taken for granted, it seems to be a major issue for developing capital markets, such as the stock exchanges in new Balkan economies. This research paper introduces and employs a model of complex market liquidity assessment of the traded companies. We employ the Frequency Analysis of Volatility to add to the research value of Risk analysis, the coherent alternatives of VaR and the investment profile of traded shares. Based on the complex set of methods employed in our research, we present comprehensive investment profiles of the companies with the highest and the lowest market capitalization which are constituents of the four Bulgarian Stock Exchange indices about the period from August 2016 to December 2017

Entwicklung selektiver und oral verfügbarer Inhibitoren der ATM-Kinase mit subnanomolarer zellulärer Aktivität

Die Ataxia-telangiectasia mutated (ATM)-Kinase ist ein zentraler Regulator der zellulären DNA-Schadensantwort in Bezug auf DNA-Doppelstrangbrüche (DSB). In vorausgehenden Forschungsarbeiten zeigte sich, dass die Inhibition der ATM zu starken synergistischen Effekten mit verschiedenen etablierten antitumoralen Therapien führen kann, weshalb die Entwicklung potenter und selektiver ATM-Inhibitoren von großem Interesse ist. Im Rahmen dieser Arbeit wurden ATM-Inhibitoren verschiedener Strukturklassen synthetisiert, charakterisiert und optimiert. Der Schwerpunkt lag in der Entwicklung neuer ATM-Inhibitoren auf Benzimidazol- und 3H-Imidazo[4,5-b]pyridin-Basis. Ausgehend von der Darstellung erster vielversprechender Proof-of-Concept-Inhibitoren wurden systematische Derivatisierungen verschiedener Teilstrukturen durchgeführt, um essenzielle Struktur-Wirkungsbeziehungen (SAR) abzuleiten. Dabei konnten zwei vielversprechende Leitstrukturen mit einstellig nanomolaren Hemmwerten und deutlich unterschiedlichen physikochemischen Eigenschaften identifiziert werden, die ferner hinsichtlich ihrer metabolischen Stabilität, der Aktivität auf zellulärer Ebene und der Selektivität innerhalb ausgewählter verwandter Kinasen und des Kinoms charakterisiert wurden. Da die ersten Leitstrukturen bei der Translation in den zellulären Assay einen ausgeprägten Aktivitätsverlust aufwiesen, sollten weitreichende Modifikationen beider Strukturklassen durchgeführt werden, um eine effiziente Inhibition auf Zellebene zu ermöglichen. Syntheseoptimierungen erlaubten in mehreren Syntheserouten die Darstellung von Zwischenprodukten ohne säulenchromatographische Aufreinigungsschritte und ermöglichten in einigen Fällen eine effiziente Late-Stage-Derivatisierung der Inhibitoren. Es gelang, mehrere ATM-Kinaseinhibitoren zu identifizieren, welche picomolare Hemmwerte und zugleich subnanomolare Aktivität auf zellulärer Ebene zeigen konnten. Zusätzlich konnte durch weiterführende Optimierungen eine hohe Selektivität erreicht werden. Zwei Vertreter wurden pharmakokinetisch evaluiert und waren oral verfügbar, sodass Kandidaten für weitergehende in vitro und in vivo Experimente zur Verfügung stehen

FEATURES OF COLOR LASER MARKING ON METALS

In the research carried out at the Rezekne Academy of Technology, the technology for color laser marking on chromium-nickel base and other metal bases was used in industrial production from the point of view of the repeatability and stability of the produced color markings. The study and research was done during the Erasmus internship by the authors at the Academy of Technology in Rezekne, Latvia. For this purpose, an AISI 304 color palette consisting of fifteen colors was developed and implemented. After the practical experiments, the dependence of the obtained colors on the various parameters of the laser processing was analyzed. The resulting colors were then tested using optical, scanning electron and atomic force microscopy, and the configuration of the oxide films was determined by Raman spectroscopy. The resulting colors are of appropriate uniformity, brightness and cover almost all spectral zones, and the resulting colors are of many times better quality than other metallic bases. A color standardization and palette repeatability test was also performed by evaluating the reflectance spectra of the formed colors. The color palette demonstrated high repeatability for all but one particular color. In parallel, the stability of the color markings was studied in terms of environmental, mechanical and chemical resistance. The resulting colors show high resistance to most environmental conditions; however, exposure to very high temperatures and extreme humidity (100 °C, 90%) and to low temperatures and extreme humidity (-40 °C, 90%) results in degradation of several colors. Colored brands show high hardness and excellent mechanical resistance to external influences and exceptional resistance to various chemicals, except for acid solutions and salts.

Influence of treatment conditions on chalcopyrite films deposited at atmospheric pressure

Spin‐coating technique was used to deposit precursor layers for chalcopyrite films of the series CuInX2 and Cu(In,Ga)X2 where X = S or Se or (S,Se). The influence of different parameters of the process, such as solution composition, air pre‐treatment and chalcogenation treatment is discussed with respect to film applicability in photovoltaic devices. Layer morphology, stochiometry and crystalline structure varied widely with the different compositions and treatments. Highly oriented CuInSe2 and Cu(In,Ga)Se2 films were obtained. (© 2008 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim

Preparation of Cu(In,Ga)Se2 photovoltaic absorbers by an aqueous metal selenite co-precipitation route

In this paper, we report a novel and simple solution-based approach for the fabrication of chalcopyrite Cu(In,Ga)Se2 thin film solar cells. An aqueous co-precipitation method based on metal selenites, M2(SeO3)x (M = Cu, In, Ga) precursors was investigated. The resulting powder, dispersed in a binder to form an ink, was coated on a substrate by doctor blade technique. A soft annealing treatment allowed the reduction of metal selenites into selenides. Further rapid thermal processing (RTP) achieved crystalline chalcopyrite absorber. The obtained layer provides good compositional control and adequate morphology for solar cell applications. The water-based synthesis is a sustainable and simple procedure, and together with doctor blade printing, provides a potential cost-effective advantage over conventional fabrication processes (vacuum-based deposition techniques). The short circuit current (JSC), open circuit voltage (VOC), fill factor (FF), and total area power conversion efficiency (Eff.) of the device are 26 mA/cm2, 450 mV, 62%, and 7.2%, respectively. The effective band gap of 1.12 eV confirmed Ga-incorporation in the CIGS crystal lattice.This work was supported by the Spanish Ministry of Science and Competiveness under INNPACTO Program (IPT-2011-0913- 920000). The authors would like to thanks to Manuel Ocana Jurado ~ (ICMS-CISC) for his help in the XPS measurements. L. Oliveira would like to thank the support of the National Council for Scientific and Technological Development (CNPq) e Brazil

Emerging inorganic solar cell efficiency tables (Version 1)

This paper presents the efficiency tables of materials considered as emerging inorganic absorbers for photovoltaic solar cell technologies. The materials collected in these tables are selected based on their progress in recent years, and their demonstrated potential as future photovoltaic absorbers. The first part of the paper consists of the criteria for the inclusion of the different technologies in this paper, the verification means used by the authors, and recommendation for measurement best practices. The second part details the highest world-class certified solar cell efficiencies, and the highest non-certified cases (some independently confirmed). The third part highlights the new entries including the record efficiencies, as well as new materials included in this version of the tables. The final part is dedicated to review a specific aspect of materials research that the authors consider of high relevance for the scientific community. In this version of the Efficiency tables, we are including an overview of the latest progress in theoretical methods for modeling of new photovoltaic absorber materials expected to be synthesized and confirmed in the near future. We hope that this emerging inorganic Solar Cell Efficiency Tables (Version 1) paper, as well as its future versions, will advance the field of emerging photovoltaic solar cells by summarizing the progress to date and outlining the future promising research directions

Preparación y estudio de películas delgadas con aplicaciónes fotovoltaicas

La tesis tiene como objetivo investigar métodos de bajo coste para la deposición de películas delgadas con a aplicaciones fotovoltaicas. Particular atención se ha prestado a la aplicabilidad de los materiales obtenidos. La primera parte (en Español) investiga la deposición de películas de dióxido de titanio y la preparación de células de colorante sensibilizadas con electrolitos sólidos. Se han obtenido capas nanocristalinas de anatasa con excelentes propiedades bactericida. La segunda parte investiga métodos de bajo coste para la deposición de capas de calcopiritas CuInS2, CuIn,GaS2 Cu(In,Ga)Se2, Cu(In,Ga)(S,Se)2, Cu2ZnSnS4 y capas búfer sin contenido de cadmio. La mayoría de los métodos empleados han sido novedosos y publicados por primera vez. La eficiencia más alta de conversión fotoellectrica se ha obtenido en la segunda parte con el calcopirita Cu(In,Ga)Se2, llegando al 7.5%

Vliv fungující veřejné dopravy na rozvoj turismu

The improvement and modernization of transport or deterioration of transport on the other hand has a direct impact on tourism. The history of tourism and transport provides a clear understanding of this relationship. The transportation can be discussed without taking tourism into consideration but tourism can't flourish without travel. Transportation is an essential part of tourism industry. Due to the improvements of transportation the tourism industry has expanded especially during last years. This paper analyzes different structures of public transport systems and their contribution to tourism industry in the city-region, especially the contribution of public metro system. In the paper proposed metro system could have the potential for city-region to become a high profile tourism destination. In addition the metro system could ensure for the region to be more economically prosperous, less reliant on fossil fuels, more social equitable, better connected and convenient, recognizable place to invest and a place with a high standard of living and so on.Zlepšení a modernizace dopravy nebo zhoršení dopravy na druhé straně má přímý dopad na cestovní ruch. S odkazem na historii cestovního ruchu a dopravy je zřejmé, že tyto dvě odvětví jsou zcela jednoznačně propojené - doprava je nedílnou součástí cestovního ruchu. Tento článek analyzuje různé typy systémů veřejné dopravy a jejich přínos pro odvětví cestovního ruchu v městském regionu, zejména se zaměřením na metro. V článku navržený systém metra by mohl mít potenciál pro město-region, zejména z pohledu zvýšení atraktivity destinace, která by byla obsluhována metrem. Kromě zmíněného přínosu by dalším přínosem mohlo být dosažení celkové ekonomické prosperity regionu, větší nezávislost na fosilních palivech a v neposlední řadě také zvyšování životní úrovně takovéhoto regionu