Estimating Exchange Rate Exposures: Some "Weighty" Issues

From a sample of 910 U.S. firms over the period 1977 1996, we find that structure of the empirical model has significant impacts on resulting estimates of exchange rate exposures from equity returns. While lengthening the return horizon has minimal impact on exposure estimates, the inclusion of a market portfolio in the specification results in significant changes to the exposure estimates. We further demonstrate that different definitions of the market portfolio result in important differences in the overall distribution of exposure estimates and the interpretations of the sign, size, and significance of many firms' exposures. The source of the exposure differences across market portfolios is due to a strong size-exposure relation for U.S. firms. Surprisingly, this size-exposure relation does not appear to be driven by an underlying correlation between size and foreign cash flow position of the firms. An alternative model specification using matched CRSP capital-based size portfolios as controls for market movements in the exposure model produces firm-level exposures with a stronger relation to foreign cash flows and less of a correlation with firm size.

Towards developing an intergrated maturity model framework for managing an enterprise business intelligence

There has been a great deal of recent interest that is driving research and development in the area of Business Intelligence (BI),but the issues regarding the implementation of enterprise scale of BI is still concern among BI academics and practitioners.Therefore, an Enterprise Business Intelligence Maturity Model(EBI2M) is proposed to serve as useful guideline for enterprises which are planning or undertaking large scale BI initiatives.In this paper, the author utilizes a Delphi study to conduct two stages of enquiries with a panel of BI experts, and then refines the research into a preliminary EBI2M model

A clinical evaluation of the performance of the GP-II contact lens

A clinical evaluation of the GP-II Contact Lens was made. Subjects were fitted with standard availability lenses and were subsequently monitored for a two month period. Of the twenty who started, twelve completed the study, thus 60% were successful. This study showed that corneal physiology was basically uncompromised within this experimental period. Variables considered were subjective symptoms, corneal health, lens centration and movement pachometry, keratometry, and distance refraction

Solar Capability Building Programme for Public Housing

AbstractExpanding the use of renewable energy such as solar photovoltaics (PV) is part of the Housing and Development Board's ongoing efforts to promote sustainable development and is in line with the second thrust of HDB's Roadmap for Better Living – to develop ‘Sustainable Towns’. Recognising the unique resource constraints of Singapore, HDB has looked towards solar PV. The Solar Capability Building Programme for public housing involves a wide-scale solar PV test-bedding in both new and existing towns. This paper documents the unique challenges that HDB faced (and still faces) in its drive towards sustainability, a key feature of which is the introduction of solar PV to public housing. The main sections covered are:•HDB's main objectives of starting the Solar Capability Building Programme,•The journey since 2008 till now,•HDB's vision of turning Punggol into a zero-energy (for common services) town,•Various challenges faced and how they were overcome,•Findings from the systems installed so far, and•The future direction HDB is headed in.The focus of the paper is on how HDB is working towards achieving its aims for the Solar Capability Building Programme despite the high solar PV system cost, small number of industry players and lack of grid parity or tariffs. It is an in-depth look into the ways in which HDB has chosen to push forward for solar PV despite the odds. Other governments and companies facing the same challenges can adopt similar methods to overcome them

Elliptic flow from partially thermalized heavy-ion collisions

We study to what extent the measured elliptic flow at RHIC constrains viscous deviations from ideal hydrodynamics. We solve a toy model where only transverse momenta are thermalized while the system undergoes longitudinal free-streaming. We show that RHIC data exclude such a model and thus require fast 3-dimensional thermalization.Comment: 4 pages (incl. 2 postscript figures); uses espcrc1.sty (included in submission). Talk given at Quark Matter 2002, Nantes, June 18-24, 2002, to appear in the proceedings in Nucl. Phys.

Jupiter's Deep Cloud Structure Revealed Using Keck Observations of Spectrally Resolved Line Shapes

Technique: We present a method to determine the pressure at which significant cloud opacity is present between 2 and 6 bars on Jupiter. We use: a) the strength of a Fraunhofer absorption line in a zone to determine the ratio of reflected sunlight to thermal emission, and b) pressure- broadened line profiles of deuterated methane (CH3D) at 4.66 meters to determine the location of clouds. We use radiative transfer models to constrain the altitude region of both the solar and thermal components of Jupiter's 5-meter spectrum. Results: For nearly all latitudes on Jupiter the thermal component is large enough to constrain the deep cloud structure even when upper clouds are present. We find that Hot Spots, belts, and high latitudes have broader line profiles than do zones. Radiative transfer models show that Hot Spots in the North and South Equatorial Belts (NEB, SEB) typically do not have opaque clouds at pressures greater than 2 bars. The South Tropical Zone (STZ) at 32 degrees South has an opaque cloud top between 4 and 5 bars. From thermochemical models this must be a water cloud. We measured the variation of the equivalent width of CH3D with latitude for comparison with Jupiter's belt-zone structure. We also constrained the vertical profile of H2O in an SEB Hot Spot and in the STZ. The Hot Spot is very dry for a probability less than 4.5 bars and then follows the H2O profile observed by the Galileo Probe. The STZ has a saturated H2O profile above its cloud top between 4 and 5 bars

A Dynamical Model of Color Confinement

A dynamical model of confinement based on a transport theoretical description of the Friedberg-Lee model is extended to explicit color degrees of freedom. The string tension is reproduced by an adiabatic string formation from the nucleon ground state. Color isovector oscillation modes of a $q\bar{q}$-system are investigated for a wide range of relative $q\bar{q}$-momenta and the dynamical impact of color confinement on the quark motion is shown.Comment: 12 pages plus 5 figure

Exploring AI and islam in Indonesian education: an anthropological inquiry

Indonesia, as the world's most populous Muslim nation, finds itself at a pivotal juncture in the realm of technological advancement. Recognizing the profound impact of emerging technologies, especially Artificial Intelligence (AI), on its trajectory is of utmost importance. While AI and Islamic beliefs may initially seem distinct, they share a common theme: an orientation toward envisioning future possibilities. Employing a blend of multimodal and mixed research methods, our objective is to scrutinize and draw comparisons between narratives and visual representations of AI's influence on religious prospects, particularly within the higher education landscape of Indonesia. We propose to investigate the curriculum, teaching practices and careers of young AI-professionals at Indonesia's oldest secular state university, namely Institut Teknologi Bandung (ITB), as well as Indonesia's first Islamic state university, namely Universitas Islamic Negeri Syarif Hidayatullah Jakarta (UIN-JKT). Notably, both institutions have recently introduced AI programs, making them rare in this regard. In this STEM-focused context, shedding light on the societal implications of AI education within Islam takes on heightened significance, with a focus on challenging Western-centric perspectives and contributing to a decolonization-centered research narrative. As this project is still in its early stages, this short paper will discuss related work and propose future directions to study Indonesia's AI-Islamic-educational future(s).Computer Systems, Imagery and Medi

Interference between the halves of a double-well trap containing a Bose-Einstein condensate

Interference between the halves of a double-well trap containing a Bose-Einstein condensate is studied. It is found that when the atoms in the two wells are initially in the coherent state, the intensity exhibits collapses and revivals, but it does not for the initial Fock states. Whether the initial states are in the coherent states or in a Fock states, the fidelity time has nothing to do with collision. We point out that interference and its fidelity can be adjusted experimentally by properly preparing the number and initial states of the system.Comment: 10 pages, 3 figures, accepted by Phy. rev.