Decision support for target country selection of future generation sovereign wealth funds: Hedging the country industry risk

AbstractThis paper addresses the challenging problem of selecting target country for future Sovereign Wealth Funds’ (SWFs) asset allocation to hedge the industry risk, which is rarely studied in the field. The target country selection includes which country and how much to invest to obtain the return objective and minimize the risk of these funds. In terms of the industrial perspective, the home country as the investor should consider SWF as part of its budget to make decision in long term. In order to control the risk, this paper measures the similarity between the home and the recipient country of SWF investment. The industrial risk of SWFs’ recipient country is also taken into consideration which is measured by concentration ratio. Based on an analytical process of target country selection, the paper finds that Kazakhstan, India, Australia, Greece, Spain, United States, Austria, Portugal, Peru, Netherlands are the top 10 countries that China should consider as its investment priorities

Comparison of Gaia DR2 Parallaxes of Stars with VLBI Astrometry

We compare the parallaxes of stars from VLBI astrometry in the literature to those in the Gaia DR2 catalog. Our full sample contains young stellar objects, evolved AGB stars, pulsars and other radio stars. Excluding AGB stars, which show significant discrepancies between Gaia and VLBI parallaxes, and stars in binary systems, we obtain an average, systematic, parallax offset of $-75 \pm 29~\mu$as for Gaia DR2, consistent with their estimate of a parallax zero-point between $-100$ and 0 $\mu$as.Comment: Accepted by Ap

The Software Correlator of the Chinese VLBI Network

The software correlator of the Chinese VLBI Network (CVN) has played an irreplaceable role in the CVN routine data processing, e.g., in the Chinese lunar exploration project. This correlator will be upgraded to process geodetic and astronomical observation data. In the future, with several new stations joining the network, CVN will carry out crustal movement observations, quick UT1 measurements, astrophysical observations, and deep space exploration activities. For the geodetic or astronomical observations, we need a wide-band 10-station correlator. For spacecraft tracking, a realtime and highly reliable correlator is essential. To meet the scientific and navigation requirements of CVN, two parallel software correlators in the multiprocessor environments are under development. A high speed, 10-station prototype correlator using the mixed Pthreads and MPI (Massage Passing Interface) parallel algorithm on a computer cluster platform is being developed. Another real-time software correlator for spacecraft tracking adopts the thread-parallel technology, and it runs on the SMP (Symmetric Multiple Processor) servers. Both correlators have the characteristic of flexible structure and scalability

4-Chlorophenol Oxidation Depends on the Activation of an AraC-Type Transcriptional Regulator, CphR, in Rhodococcus sp. Strain YH-5B

4-Chlorophenol (4-CP) oxidation plays an essential role in the detoxification of 4-CP. However, oxidative regulation of 4-CP at the genetic and biochemical levels has not yet been studied. To explore the regulation mechanism of 4-CP oxidation, a novel gene cluster, cphRA2A1, involved in biodegradation of 4-CP was identified and cloned from Rhodococcus sp. strain YH-5B by genome walking. The sequence analysis showed that the cphRA2A1 gene cluster encoded an AraC-type transcriptional regulator and a two-component monooxygenase enzyme, while quantitative real-time PCR analysis further revealed that cphR was constitutively expressed and positively regulated the transcription of cphA2A1 genes in response to 4-CP or phenol, as evidenced by gene knockout and complementation experiments. Through the transcriptional fusion of the mutated cphA2A1 promoter with the lacZ gene, it was found that the CphR regulator binding sites had two 15-bp imperfect direct repeats (TGCA-N6-GGNTA) at −35 to −69 upstream of the cphA2A1 transcriptional start site. Notably, the sub-motifs at the −46 to −49 positions played a critical role in the appropriate interaction with the CphR dimer. In addition, it was confirmed that the monooxygenase subunits CphA1 and CphA2, which were purified by His-tag affinity chromatography, were able to catalyze the conversion of 4-CP to 4-chlorocatechol, suggesting that strain YH-5B could degrade 4-CP via the 4-chlorocatechol pathway. This study enhances our understanding of the genetic and biochemical diversity in the transcriptional regulation of 4-CP oxidation in Gram-positive bacteria

The Parallax of the Red Hypergiant VX Sgr with Accurate Tropospheric Delay Calibration

We report astrometric results of VLBI phase-referencing observations of 22 GHz \hho\ masers emission toward the red hypergiant \vxsgr, one of most massive and luminous red hypergiant stars in our Galaxy, using the Very Long Baseline Array. A background source, \Jtwoze, projected 4\d4 from the target \vxsgr, was used as the phase reference. For the low declinations of these sources, such a large separation normally would seriously degrade the relative astrometry. We use a two-step method of tropospheric delay calibration, which combines the VLBI geodetic-block (or GPS) calibration with an image-optimization calibration, to obtain a trigonometric parallax of $0.64\pm0.04$ mas, corresponding to a distance of 1.56$^{+0.11}_{-0.10}$ kpc. The measured proper motion of \vxsgr\ is $0.36\pm0.76$ and $-2.92\pm0.78$ \masy\ in the eastward and northward directions. The parallax and proper motion confirms that \vxsgr\ belong to the Sgr OB1 association. Rescaling bolometric luminosities in the literature to our parallax distance, we find the luminosity of \vxsgr~is $(1.95 \pm 0.62) \times 10^5$ \Lsun, where the uncertainty is dominated by differing photometry measurements.Comment: 16 pages, 10 figures, accepted by Ap

Real-time intravascular photoacoustic-ultrasound imaging of lipid-laden plaque in human coronary artery at 16 frames per second

Intravascular photoacoustic-ultrasound (IVPA-US) imaging is an emerging hybrid modality for the detection of lipid-laden plaques, as it provides simultaneous morphological and lipid-specific chemical information of an artery wall. Real-time imaging and display at video-rate speed are critical for clinical utility of the IVPA-US imaging technology. Here, we demonstrate a portable IVPA-US system capable of imaging at up to 25 frames per second in real-time display mode. This unprecedented imaging speed was achieved by concurrent innovations in excitation laser source, rotary joint assembly, 1 mm IVPA-US catheter size, differentiated A-line strategy, and real-time image processing and display algorithms. Spatial resolution, chemical specificity, and capability for imaging highly dynamic objects were evaluated by phantoms to characterize system performance. An imaging speed of 16 frames per second was determined to be adequate to suppress motion artifacts from cardiac pulsation for in vivo applications. The translational capability of this system for the detection of lipid-laden plaques was validated by ex vivo imaging of an atherosclerotic human coronary artery at 16 frames per second, which showed strong correlation to gold-standard histopathology. Thus, this high-speed IVPA-US imaging system presents significant advances in the translational intravascular and other endoscopic applications