Perceived risk, risk tolerance and trust in debt decisions : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University, Manawatu, New Zealand

The perceived risk of stock investment, risk tolerance and trust play important roles in the stock market and in use of debt for stock investment, yet the relationship between these has received little attention. This thesis examines these direct and indirect relationships using three independent essays using structural equation modelling as the main technique. Vietnam is used as an illustrative example, as the use of informal borrowing is common. This thesis surveyed 420 Vietnamese individual investors and found the following results. Essay One finds that the perceived risk is positively associated with borrowing sources and the use of informal debt. Leverage risk and opportunity risk also directly relate to borrowing sources. Borrowing sources is positively related to perceived risk and debt decisions. Perceived risk is a mediator between borrowing sources and informal debt, and borrowing sources act as a mediator between perceived risk and debt decisions. The results of Essay Two show that risk tolerance has a direct relationship to the use of financial leverage, while investment horizons are related to the use of informal debt. Risk tolerance positively relates to the use of informal debt and mediates between investment horizons and debt decisions among stockbrokers. In Essay Three, the results reveal that there is a significantly positive relationship between trust in the stock market, and trading frequency and the use of informal debt. Trust in stockbrokers and brokerage firms are directly related to the use of informal debt. Trading frequency is also positively associated with trust in the stock market and the use of financial leverage. Trust is a mediator between trading frequency and informal debt, and trading frequency acts as a mediator between trust and financial leverage. Findings from this thesis will help provide useful insights into investors’ behaviour and its impact on debt decisions for stock investment amongst individual investors, users and non-users of informal and formal borrowing, stockbrokers and non-stockbrokers, male and female investors in the Vietnam stock market and other stock markets

Normal Families of Meromorphic Mappings of Several Complex Variables for Moving Hypersurfaces in a Complex Projective Space

Final version, to appear in Nagoya Math. J.. Lemma on Hausdorff measure added, and a bit more details are given in the proof of Theorems 1.1 and 1.2International audienceThe main aim of this article is to give some sufficient conditions for a family of meromorphic mappings on a domain D in C^n into P^N(C) to be meromorphically normal if they satisfy only some very weak conditions with respect to moving hypersurfaces in P^N(C), namely that their intersections with these moving hypersurfaces, which may moreover depend on the meromorphic maps, are in some sense uniform. Our results generalise and complete previous results in this area, especially the works of Fujimoto, Tu, Tu-Li, Mai-Thai-Trang and the recent work of Quang-Tan

Perceived Risk, Investment Performance and Intentions in Emerging Stock Markets

The study built the new measurement scales of risk perception in investing in stock types trading on the emerging stock market, and then explored the effects of perceived risk on investment performance and intentions of individual investors. The study employed mixed research methods including in-depth interviews, a pilot study involving 50 investors, a survey distributed to 465 retail investors. Results showed that perceived risk had direct positive impact on both investment performance and intentions. Perceived risk also had indirect influence on intentions to invest through investment performance. The study recommended investors drew attention to risk of stocks labelled as “warned”, “controlled”, and “halted trading”. The higher an investor has perceived risk of these stock types, the greater one has been satisfied with one's decisions on investing, the recent rate of return achieved as well as intended to invest in the next time. Moreover, securities corporations have regularly organized seminars, workshops or training courses about investing in the kinds of stocks and updated regulations of stock investment in time; particularly, improved the quality of listed companies to attract more investors to the stock market. Keywords: Investment performance, Intentions, Perceived risk, emerging stock markets. JEL Classifications: E44, G3

ADSORPTION OF MERCURIC ION FROM AQUEOUS SOLUTIONS USING MODIFIED FLY ASH

In this study, fly ash was treated with NaOH solution (FAN) before modifying with (3-mercaptopropyl) triethoxysilane - MPTMS (FAMPS). By using FTIR, FESEM, XRD, EDX, and BET techniques, the change in structure, composition and morphology of FAN and FAMPS was evaluated. The FTIR spectra of FAN and FAMPS showed that there is no chemical reaction between the MPTMS and FAN. After modification, the FAMPS has a rough surface with composition difference from the FAN. Mercuric ion adsorption behavior as well as adsorptionisotherm models (Langmuir and Freundlich) of the FAN and FAMPS were also investigated and discussed. Thanks to FAN modification, the mercuric ion removal percent of the FAMPS was higher than that of the FAN. Owing to the adsorption data, Freundlich isotherm modelwas fitted for the mercuric ion adsorption process

Biocompatible chitosan-functionalized upconverting nanocomposites

Simultaneous integration of photon emission and biocompatibility into nanoparticles is an interesting strategy to develop applications of advanced optical materials. In this work, we present the synthesis of biocompatible optical nanocomposites from the combination of near-infrared luminescent lanthanide nanoparticles and water-soluble chitosan. NaYF4:Yb,Er upconverting nanocrystal guests and water-soluble chitosan hosts are prepared and integrated together into biofunctional optical composites. The control of aqueous dissolution, gelation, assembly, and drying of NaYF4:Yb,Er nanocolloids and chitosan liquids allowed us to design novel optical structures of spongelike aerogels and beadlike microspheres. Well-defined shape and near-infrared response lead upconverting nanocrystals to serve as photon converters to couple with plasmonic gold (Au) nanoparticles. Biocompatible chitosan-stabilized Au/NaYF4:Yb,Er nanocomposites are prepared to show their potential use in biomedicine as we find them exhibiting a half-maximal effective concentration (EC50) of 0.58 mg mL–1 for chitosan-stabilized Au/NaYF4:Yb,Er nanorods versus 0.24 mg mL–1 for chitosan-stabilized NaYF4:Yb,Er after 24 h. As a result of their low cytotoxicity and upconverting response, these novel materials hold promise to be interesting for biomedicine, analytical sensing, and other applications

Using fly ash treated by NaOH and H2SO4 solutions for Hg2+ and Cd2+ ion adsorption.

This paper presents the results of adsorption ability of heavy metal ions (Hg2+ and Cd2+) by fly ash (FA) before and after treatment using NaOH and H2SO4 solutions.  Original- and treated FA were characterized by Fourier Transform Infrared Spectroscopy (FTIR), X-ray Diffraction (XRD), and Scanning Electron Microscope (SEM). Specific surface area of FA before and after treatment was calculated by Brunauer – Emmett – Teller (BET) isotherm equation. The obtained results indicated that the morphology and specific surface area of FA changed clearly after treatment by acid or alkaline solutions. Adsorption capacity the Hg2+ and Cd2+ ion by FA was determined from data of UV-Vis spectra. After treatment, the adsorption capacity of ions by FA increased remarkably in comparison with non-treated FA. The FA treated by NaOH solution has the adsorption capacity higher than FA treated by H2SO4 solution. The maximum adsorption capacity of the FA treated by NaOH solution for Cd2+ and Hg2+ ions at room temperature is 28.97 and 14.60 mg/g, respectively. The equilibrium adsorption data were described by the Langmuir and Freundlich isotherm models. The results showed that equilibrium data were fitted well to the Langmuir isotherm. Keywords. Fly ash, treatment, adsorption capacity, heavy metal, Langmuir isotherm

PREPARATION AND FTIR STUDIES OF PMMA/PVC POLYMER BLENDS, PVC-g-PMMA GRAFT COPOLYMERS AND EVALUATING GRAFT CONTENT

This study presents the qualitative and quantitative analyses of Fourier Transform Infrared (FTIR) spectra of poly(methyl methacrylate)/poly(vinyl chloride) blends (PMMA/PVC), as well as PVC-g-PMMA graft copolymers. Graft copolymerizations of methyl mathacrylate (MMA) onto PVC macromolecules were carried out mixture of cyclohexanone/N,N-dimethylformamide as solvents, dibenzoyl peroxide as initiator and nitrogen medium. FTIR spectra of PMMA/PVC blends showed that there were molecular interactions between C=O groups of PMMA and C-Cl groups of PVC. Assignments of infrared absorption bands for specific groups of PMMA/PVC blends have been contributed. Using regression method, linear calibration curve between PMMA mole content and peak areas of C=O groups in FTIR spectra of the blends has been found when C=O peak areas were multiplied by an appropriate factor. PMMA grafted content and total PMMA formed content in PVC-g-PMMA graft copolymers have been evaluated. The results showed that grafted PMMA content was increased since PVC was initiatly dechlorinated by NaOH solution. The grafted PMMA content and total formed PMMA content were 5.05 wt.% and 11.25 wt.% respectively when MMA monomers were grafted onto neat PVC and modified PVC molecules

Effect of Polypyrrole on the Electrical, Dielectric and Mechanical Properties of Waterborne Epoxy Coatings

In this context, conducting composite based on waterborne epoxy system and polypyrrole (PPy) was investigated. The polypyrrole was synthesized by chemical oxidation polymerization. Its morphology and chemical structure were confirmed by using field emission scanning electron microscopy (FESEM) and Fourier transform infrared spectroscopy (FTIR). Then, PPy was well-dispersed in the epoxy coating and had a good compatibility with the matrix. The effects of PPy on dielectric, electrical and mechanical properties of epoxy/PPy composites was examined. The dielectric constant and electrical conductivity of the coatings increased with addition of PPy fillers. Over to 15 wt. % of PPy loading, the volume resistivity of samples slightly decreased from 6.7 × 1010 to 1.5 × 1010 Ω cm. In contrast, the presence of PPy diminished both impact and abrasion resistance of the epoxy/PPy composites, down to 160 kg cm and 10.2 L/mil, respectively, but they stayed acceptable for the coatings. The results reveal that the epoxy containing polypyrrole is suitable for various electrical and dielectric applications