Based on the valid patent data and stock price data of China A-shares,the patent effects of four patent species including the invention publication,the invention grant,the utility model grant,and the design grant,on t...Based on the valid patent data and stock price data of China A-shares,the patent effects of four patent species including the invention publication,the invention grant,the utility model grant,and the design grant,on the stock price and the stock return rate were analyzed via analysis of variance(ANOVA).It was proved that the A-shares having new patents of any patent species shown the higher stock price mean and the higher stock return rate mean than those A-shares having no new patents did.The A-shares having new design grants were found to show the highest stock price mean among the A-shares having new patents of any patent species.The A-shares in the group of top 25%patent count of either the invention publication or the invention grant shown the highest stock return rates mean than those A-shares in other groups of less patent count did.The invention grant,following the general concept,showed its excellent patent effect.The design grant,beyond the expectation,also showed patent effects on the higher stock price and the higher stock return rate.The finding would improve the state of the art in the patent valuation and the listing company evaluation.展开更多
In recent times,financial globalization has drastically increased in different ways to improve the quality of services with advanced resources.The successful applications of bitcoin Blockchain(BC)techniques enable the...In recent times,financial globalization has drastically increased in different ways to improve the quality of services with advanced resources.The successful applications of bitcoin Blockchain(BC)techniques enable the stockholders to worry about the return and risk of financial products.The stockholders focused on the prediction of return rate and risk rate of financial products.Therefore,an automatic return rate bitcoin prediction model becomes essential for BC financial products.The newly designed machine learning(ML)and deep learning(DL)approaches pave the way for return rate predictive method.This study introduces a novel Jellyfish search optimization based extreme learning machine with autoencoder(JSO-ELMAE)for return rate prediction of BC financial products.The presented JSO-ELMAE model designs a new ELMAE model for predicting the return rate of financial products.Besides,the JSO algorithm is exploited to tune the parameters related to the ELMAE model which in turn boosts the classification results.The application of JSO technique assists in optimal parameter adjustment of the ELMAE model to predict the bitcoin return rates.The experimental validation of the JSO-ELMAE model was executed and the outcomes are inspected in many aspects.The experimental values demonstrated the enhanced performance of the JSO-ELMAE model over recent state of art approaches with minimal RMSE of 0.1562.展开更多
This work focuses on the optimization of investment contributions of pension asset with a view to improving contributors’ participation in achieving better return on investment (RoI) of their funds. We viewed some ne...This work focuses on the optimization of investment contributions of pension asset with a view to improving contributors’ participation in achieving better return on investment (RoI) of their funds. We viewed some new regulations on Nigeria’s Contributory Pension Scheme” (CPS) from amended legislation of 2014, some of which are yet to be implemented when their regulations are approved. A mathematical model involving 5 variables, 5 inequality constraints covering regulatory limitations and limitation on scarce resource known as Asset Under Management (AUM), suggested and mathematically shown to be possible through “maximization of return irrespective of risk” while obeying all regulatory controls as our constraints optimized. Optimized portfolio using MatLab shows that the portfolio representing AES 2013 portfolio with a deficit growth of 15.75 m representing 3.27% less than the portfolio’s full growth potential within defined assumptions would have been averted if contributors actually set their targets and investment managers optimize from forecasts of future prices using trend analysis.展开更多
Shanghai-Hong Kong Stock Connect Program,which is a new starting point for the opening up of the mainland capital market,still has many uncertainties.Research on the benefits and market volatility of such policies can...Shanghai-Hong Kong Stock Connect Program,which is a new starting point for the opening up of the mainland capital market,still has many uncertainties.Research on the benefits and market volatility of such policies can provide investors with time to invest in such policies,fluctuations in the underlying stocks of the Chinese stock market,and decision support for the formulation and revision of relevant policies.This paper studies whether there is significant abnormal rate of return in the selected stocks which are in the Shanghai Stock Connect Program within the specified period,the excess return gap between the stocks which are in the program and which are not in the program,and the impact of the Shanghai Stock Connect Program on the volatility of the relevant stocks.Based on the CAPM model and the Fama-French 3-factor model,this paper uses t test to study the significance of the abnormal rate of return.By establishing a difference-in-difference(DID)model,the regression of the abnormal rate of return is tested,and the sample volatility is analyzed according to the influence of the fund transaction.The study found that the stocks in the program have significant abnormal rate of returns during the window period.The Shanghai Stock Connect has brought about a huge change in transaction amount,and policy makers need to improve related and similar policies.展开更多
文摘Based on the valid patent data and stock price data of China A-shares,the patent effects of four patent species including the invention publication,the invention grant,the utility model grant,and the design grant,on the stock price and the stock return rate were analyzed via analysis of variance(ANOVA).It was proved that the A-shares having new patents of any patent species shown the higher stock price mean and the higher stock return rate mean than those A-shares having no new patents did.The A-shares having new design grants were found to show the highest stock price mean among the A-shares having new patents of any patent species.The A-shares in the group of top 25%patent count of either the invention publication or the invention grant shown the highest stock return rates mean than those A-shares in other groups of less patent count did.The invention grant,following the general concept,showed its excellent patent effect.The design grant,beyond the expectation,also showed patent effects on the higher stock price and the higher stock return rate.The finding would improve the state of the art in the patent valuation and the listing company evaluation.
基金supported in part by Basic Science Research Program through the National Research Foundation of Korea(NRF)funded by the Ministry of Education(NRF-2021R1A6A1A03039493)by the NRF grant funded by the Korea government(MSIT)(NRF-2022R1A2C1004401).
文摘In recent times,financial globalization has drastically increased in different ways to improve the quality of services with advanced resources.The successful applications of bitcoin Blockchain(BC)techniques enable the stockholders to worry about the return and risk of financial products.The stockholders focused on the prediction of return rate and risk rate of financial products.Therefore,an automatic return rate bitcoin prediction model becomes essential for BC financial products.The newly designed machine learning(ML)and deep learning(DL)approaches pave the way for return rate predictive method.This study introduces a novel Jellyfish search optimization based extreme learning machine with autoencoder(JSO-ELMAE)for return rate prediction of BC financial products.The presented JSO-ELMAE model designs a new ELMAE model for predicting the return rate of financial products.Besides,the JSO algorithm is exploited to tune the parameters related to the ELMAE model which in turn boosts the classification results.The application of JSO technique assists in optimal parameter adjustment of the ELMAE model to predict the bitcoin return rates.The experimental validation of the JSO-ELMAE model was executed and the outcomes are inspected in many aspects.The experimental values demonstrated the enhanced performance of the JSO-ELMAE model over recent state of art approaches with minimal RMSE of 0.1562.
文摘This work focuses on the optimization of investment contributions of pension asset with a view to improving contributors’ participation in achieving better return on investment (RoI) of their funds. We viewed some new regulations on Nigeria’s Contributory Pension Scheme” (CPS) from amended legislation of 2014, some of which are yet to be implemented when their regulations are approved. A mathematical model involving 5 variables, 5 inequality constraints covering regulatory limitations and limitation on scarce resource known as Asset Under Management (AUM), suggested and mathematically shown to be possible through “maximization of return irrespective of risk” while obeying all regulatory controls as our constraints optimized. Optimized portfolio using MatLab shows that the portfolio representing AES 2013 portfolio with a deficit growth of 15.75 m representing 3.27% less than the portfolio’s full growth potential within defined assumptions would have been averted if contributors actually set their targets and investment managers optimize from forecasts of future prices using trend analysis.
文摘Shanghai-Hong Kong Stock Connect Program,which is a new starting point for the opening up of the mainland capital market,still has many uncertainties.Research on the benefits and market volatility of such policies can provide investors with time to invest in such policies,fluctuations in the underlying stocks of the Chinese stock market,and decision support for the formulation and revision of relevant policies.This paper studies whether there is significant abnormal rate of return in the selected stocks which are in the Shanghai Stock Connect Program within the specified period,the excess return gap between the stocks which are in the program and which are not in the program,and the impact of the Shanghai Stock Connect Program on the volatility of the relevant stocks.Based on the CAPM model and the Fama-French 3-factor model,this paper uses t test to study the significance of the abnormal rate of return.By establishing a difference-in-difference(DID)model,the regression of the abnormal rate of return is tested,and the sample volatility is analyzed according to the influence of the fund transaction.The study found that the stocks in the program have significant abnormal rate of returns during the window period.The Shanghai Stock Connect has brought about a huge change in transaction amount,and policy makers need to improve related and similar policies.
