Recent progress in random metric theory and its applications to conditional risk measures

The purpose of this paper is to give a selective survey on recent progress in random metric theory and its applications to conditional risk measures. This paper includes eight sections. Section 1 is a longer introduction, which gives a brief introduction to random metric theory, risk measures and conditional risk measures. Section 2 gives the central framework in random metric theory, topological structures, important examples, the notions of a random conjugate space and the Hahn-Banach theorems for random linear functionals. Section 3 gives several important representation theorems for random conjugate spaces. Section 4 gives characterizations for a complete random normed module to be random reflexive. Section 5 gives hyperplane separation theorems currently available in random locally convex modules. Section 6 gives the theory of random duality with respect to the locally $L^{0}-$convex topology and in particular a characterization for a locally $L^{0}-$convex module to be $L^{0}-$pre$-$barreled. Section 7 gives some basic results on $L^{0}-$convex analysis together with some applications to conditional risk measures. Finally, Section 8 is devoted to extensions of conditional convex risk measures, which shows that every representable $L^{\infty}-$type of conditional convex risk measure and every continuous $L^{p}-$type of convex conditional risk measure ($1\leq p<+\infty$) can be extended to an $L^{\infty}_{\cal F}({\cal E})-$type of $\sigma_{\epsilon,\lambda}(L^{\infty}_{\cal F}({\cal E}), L^{1}_{\cal F}({\cal E}))-$lower semicontinuous conditional convex risk measure and an $L^{p}_{\cal F}({\cal E})-$type of ${\cal T}_{\epsilon,\lambda}-$continuous conditional convex risk measure ($1\leq p<+\infty$), respectively.Comment: 37 page

An investigation on the mechanics of nanometric cutting and the development of its test-bed

The mechanics of machining at a very small depth of cut (100 nm or less) is not well understood. The chip formation physics, cutting forces generation, resulting temperatures and the size effects significantly affect the efficiency of the process and the surface quality of the workpiece. In this paper, the cutting mechanics at nanometric scale are investigated in comparison with conventional cutting principles. Molecular Dynamics (MD) is used to model and simulate the nanometric cutting processes. The models and simulated results are evaluated and validated by the cutting trials on an atomic force microscope (AFM). Furthermore, the conceptual design of a bench-type ultraprecision machine tool is presented and the machine aims to be a facility for nanometric cutting of threedimensional MEMS devices. The paper concludes with a discussion on the potential and applications of nanometric cutting techniques/equipment for the predictabilty, producibility and productivity of manufacturing at the nanoscale

An investigation on the mechanics of nanometric cutting and the development of its test-bed

The mechanics of machining at a very small depth of cut (100 nm or less) is not well understood. The chip formation physics, cutting forces generation, resulting temperatures and the size effects significantly affect the efficiency of the process and the surface quality of the workpiece. In this paper, the cutting mechanics at nanometric scale are investigated in comparison with conventional cutting principles. Molecular Dynamics (MD) is used to model and simulate the nanometric cutting processes. The models and simulated results are evaluated and validated by the cutting trials on an atomic force microscope (AFM). Furthermore, the conceptual design of a bench-type ultraprecision machine tool is presented and the machine aims to be a facility for nanometric cutting of threedimensional MEMS devices. The paper concludes with a discussion on the potential and applications of nanometric cutting techniques/equipment for the predictabilty, producibility and productivity of manufacturing at the nanoscale

Performance of Photosensors in the PandaX-I Experiment

We report the long term performance of the photosensors, 143 one-inch R8520-406 and 37 three-inch R11410-MOD photomultipliers from Hamamatsu, in the first phase of the PandaX dual-phase xenon dark matter experiment. This is the first time that a significant number of R11410 photomultiplier tubes were operated in liquid xenon for an extended period, providing important guidance to the future large xenon-based dark matter experiments.Comment: v3 as accepted by JINST with modifications based on reviewers' comment

Venture Capital Investment and Post-IPO Performance of Entrepreneurial Firms: Evidence from the People's Republic China

We examine the effects of venture capital (VC) investment on the performance (measured by return on assets, return on equity, and Tobin’s Q) and growth (measured by growth of total sales and total number of employees) of entrepreneurial firms in the People’s Republic of China (PRC) after an initial public offering (IPO). Firm-level panel data analysis shows that VC investment contributes to the long-term performance and growth of entrepreneurial firms after an IPO. Meanwhile,we observe a significant and positive relationship between corporate governance of firms and VC investment. However, we do not find that experience or specialization of VC firms influences the effects of venture investment on post-IPO performance or growth of entrepreneurial firms in the PRC.published_or_final_versio

An empirical analysis of strategic contracts

The conference program's website is located at http://editorialexpress.com/conference/ALEA2013/program/ALEA2013.htmlSession 3 (Panel IC): Contracts: Incentives and InnovationThis article investigates the use of strategic contract clauses such as most-favored-customer clauses, rights of first refusal, rights of first offer, first negotiation rights in bio-tech R&D contracts between pharmaceutical firms and bio-tech agents. It is shown that these strategic rights are more likely adopted when potential entry threat from other pharmaceutical firms are larger. This result is consistent with the prediction from the literature: strategic contracts can increase the joint benefit of contracting parties by extracting rent from entrants and/or protect investments by contracting parties. Furthermore, strategic rights and termination rights held by pharmaceutical firms are shown to be substitutes, and the level of substitution is affected by the uncertainty of the R&D activities involved and the previous relationship between contracting parties. These results can be explained by a multi-task theory where bio-tech agents allocate effort between R&D activities specified in contracts and non-contracted R&D activities.postprin

Insulator-metal transition shift related to magnetic polarons in La0.67-xYxCa0.33MnO3

The magnetic transport properties have been measured for La0.67-xYxCa0.33MnO3 (0 <= x <= 0.14) system. It was found that the transition temperature Tp almost linearly moves to higher temperature as H increases. Electron spin resonance confirms that above Tp, there exist ferromagnetic clusters. From the magnetic polaron point of view, the shift of Tp vs. H was understood, and it was estimated that the size of the magnetic polaron is of 9.7~15.4 angstrom which is consistent with the magnetic correlation length revealed by the small-angle neutron-scattering technique. The transport properties at temperatures higher than Tp conform to the variable-range hopping mechanism.Comment: 22 pages, 6 figures, pdf, to be published in Euro. Phys. J.