Estimation of value at risk for stock prices in mobile phone industry

Risk management and market losses prediction played a vital role in the financial sector. Value-at-Risk (VaR) is one of the effective measures for financial risk management. This research studies three mobile phone companies which are Apple Inc, Google Inc and Microsoft Corporation. The stocks of these companies are listed under the National Association of Securities Dealers Automated Quotations stock exchange (NASDAQ). The Value-at-Risk is evaluated by using two non-parametric methods and four parametric methods. Two non-parametric methods used are the basic historical method and age-weighted historical method, while the four parametric methods are normal distribution, student’s t-distribution, generalized extreme value distribution, and variance gamma distribution. Shapiro-Wilk normality test indicates that the return series of the selected companies are not normally distributed. This study found that, at 95% confidence level, the risks of the selected stocks are different for each method, and the stock of Microsoft Corporation is the least risky stock as it gives the lowest VaR. Through the conditional coverage test, this study founds that the age-weighted historical method overestimated the VaR. In addition, this study also concludes that the basic historical method, generalized extreme value distribution and variance gamma distribution are superior to other methods in the backtesting procedure

Cultivation of Human Corneal Endothelial Cells Isolated from Paired Donor Corneas

Consistent expansion of human corneal endothelial cells (hCECs) is critical in the development of tissue engineered endothelial constructs. However, a wide range of complex culture media, developed from different basal media have been reported in the propagation of hCECs, some with more success than others. These results are further confounded by donor-to-donor variability. The aim of this study is to evaluate four culture media in the isolation and propagation of hCECs isolated from a series of paired donor corneas in order to negate donor variability

Belle II Technical Design Report

The Belle detector at the KEKB electron-positron collider has collected almost 1 billion Y(4S) events in its decade of operation. Super-KEKB, an upgrade of KEKB is under construction, to increase the luminosity by two orders of magnitude during a three-year shutdown, with an ultimate goal of 8E35 /cm^2 /s luminosity. To exploit the increased luminosity, an upgrade of the Belle detector has been proposed. A new international collaboration Belle-II, is being formed. The Technical Design Report presents physics motivation, basic methods of the accelerator upgrade, as well as key improvements of the detector.Comment: Edited by: Z. Dole\v{z}al and S. Un

Generalized PVO‐based dynamic block reversible data hiding for secure transmission using firefly algorithm

In this paper, we proposed a novel generalized pixel value ordering–based reversible data hiding using firefly algorithm (GPVOFA). The sequence of minimum and maximum number pixels value has been used to embed the secret data while prediction and modification are held on minimum, and the maximum number of pixel blocks is used to embed the secret data into multiple bits. The host image is divided into the size of noncoinciding dynamic blocks on the basis of firefly quadtree partition, whereas rough blocks are divided into a larger size; moreover, providing more embedding capacity used small flat blocks size and optimal location in the block to write the information. Our proposed method becomes able to embed large data into a host image with low distortion. The rich experimental results are better, as compared with related preceding arts

The Physics of the B Factories

This work is on the Physics of the B Factories. Part A of this book contains a brief description of the SLAC and KEK B Factories as well as their detectors, BaBar and Belle, and data taking related issues. Part B discusses tools and methods used by the experiments in order to obtain results. The results themselves can be found in Part C