Stochastic partial differential equations driven by space-time fractional noises

International audienceIn this paper, we study a class of stochastic partial differential equations (SPDEs) driven by space-time fractional noises. Our method consists in studying first the nonlocal SPDEs and showing then the convergence of the family of these equations and the limit gives the solution to the SPDE

Regulation, subordinated debt, and incentive features of CEO compensation in the banking industry

We study CEO compensation in the banking industry by considering banks’ unique claim structure in the presence of two types of agency problems: the standard managerial agency problem and the risk-shifting problem between shareholders and debtholders. We empirically test two hypotheses derived from this framework: that the pay-for-performance sensitivity of bank CEO compensation (1) decreases with the total leverage ratio and (2) increases with the intensity of monitoring provided by regulators and nondepository (subordinated) debtholders. We construct an index of the intensity of outsider monitoring based on four variables: the subordinated debt ratio, subordinated debt rating, nonperforming loan ratio, and BOPEC rating (regulators’ assessment of a bank’s overall health and financial condition). We find supporting evidence for both hypotheses. Our results hold after controlling for the endogeneity among compensation, leverage, and monitoring; they are robust to various regression specifications and sample criteria

Incentive Features in CEO Compensation: The Role of Regulation and Monitored Debt

We study CEO compensation in the banking industry by taking into account banks’ unique claim structure in the presence of two types of agency problems: the standard managerial agency problem as well as the risk-shifting problem between shareholders and debtholders. We empirically test two hypotheses derived from this framework: (1) the pay-for-performance sensitivity of bank CEO compensation decreases with the total leverage ratio; and (2) the pay-for- performance sensitivity of bank CEO compensation increases with the intensity of monitoring provided by regulators and nondepository (subordinated) debtholders. We construct an index of the intensity of outsider monitoring based on four variables: subordinated debt ratio, subordinated debt rating, non performing loan ratio and BOPEC rating assigned by regulators. We find supporting evidence for both hypotheses. Our results hold after controlling for the endogeneity among compensation, leverage and monitoring. They are robust to various regression specifications and sample criteria

Point-TTA: Test-Time Adaptation for Point Cloud Registration Using Multitask Meta-Auxiliary Learning

We present Point-TTA, a novel test-time adaptation framework for point cloud registration (PCR) that improves the generalization and the performance of registration models. While learning-based approaches have achieved impressive progress, generalization to unknown testing environments remains a major challenge due to the variations in 3D scans. Existing methods typically train a generic model and the same trained model is applied on each instance during testing. This could be sub-optimal since it is difficult for the same model to handle all the variations during testing. In this paper, we propose a test-time adaptation approach for PCR. Our model can adapt to unseen distributions at test-time without requiring any prior knowledge of the test data. Concretely, we design three self-supervised auxiliary tasks that are optimized jointly with the primary PCR task. Given a test instance, we adapt our model using these auxiliary tasks and the updated model is used to perform the inference. During training, our model is trained using a meta-auxiliary learning approach, such that the adapted model via auxiliary tasks improves the accuracy of the primary task. Experimental results demonstrate the effectiveness of our approach in improving generalization of point cloud registration and outperforming other state-of-the-art approaches.Comment: Accepted at ICCV 202

Test-Time Adaptation for Point Cloud Upsampling Using Meta-Learning

Affordable 3D scanners often produce sparse and non-uniform point clouds that negatively impact downstream applications in robotic systems. While existing point cloud upsampling architectures have demonstrated promising results on standard benchmarks, they tend to experience significant performance drops when the test data have different distributions from the training data. To address this issue, this paper proposes a test-time adaption approach to enhance model generality of point cloud upsampling. The proposed approach leverages meta-learning to explicitly learn network parameters for test-time adaption. Our method does not require any prior information about the test data. During meta-training, the model parameters are learned from a collection of instance-level tasks, each of which consists of a sparse-dense pair of point clouds from the training data. During meta-testing, the trained model is fine-tuned with a few gradient updates to produce a unique set of network parameters for each test instance. The updated model is then used for the final prediction. Our framework is generic and can be applied in a plug-and-play manner with existing backbone networks in point cloud upsampling. Extensive experiments demonstrate that our approach improves the performance of state-of-the-art models.Comment: Accepted at IROS 202