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
为了明确秸秆还田和施磷量对豫西旱地小麦土壤酶活性和产量形成的影响规律,2020年10月至2022年6月,以洛旱22为材料,采用裂区试验设计,主区为玉米秸秆还田:秸秆不还田(S0)、秸秆全量还田(S1),副区为施磷量:P0 (0 kg hm^(-2))、P1 (75.0 k...为了明确秸秆还田和施磷量对豫西旱地小麦土壤酶活性和产量形成的影响规律,2020年10月至2022年6月,以洛旱22为材料,采用裂区试验设计,主区为玉米秸秆还田:秸秆不还田(S0)、秸秆全量还田(S1),副区为施磷量:P0 (0 kg hm^(-2))、P1 (75.0 kg hm^(-2))、P2 (112.5 kg hm^(-2))、P3 (150.0 kg hm^(-2))和P4 (187.5 kg hm^(-2)),测定了土壤酶活性以及小麦干物质转运特征、籽粒灌浆动态和产量及其构成因素。结果表明,0~20 cm与20~40 cm土层中土壤速效磷含量及土壤脲酶、蔗糖酶、过氧化氢酶和碱性磷酸酶活性,以及小麦籽粒最大灌浆速率(V_(max))、最大灌浆速率出现时间(T_(max))、灌浆速率达到最大时的籽粒生长量(W_(max))、平均灌浆速率(V_(mean))、灌浆渐增期持续时间(T_(1))以及快增期持续时间(T_(2))在同一施磷水平下均表现为S1高于S0,在同一秸秆还田处理下均随施磷水平的提高呈先升后降趋势,总体表现为P3处理最高。同一施磷量下,花后干物质同化量及其对籽粒的贡献率也均表现为S1高于S0,且在最高的P3处理分别显著提高38.67%和5.76%。秸秆还田和施磷量互作对土壤速效磷含量、土壤酶活性、小麦干物质转运特征、籽粒灌浆动态和产量的影响均达显著水平,且多在S1P3处理达到最大值。S1P3与S0P3相比,前后两年度土壤速效磷含量及土壤脲酶、蔗糖酶、过氧化氢酶活性分别显著提高5.32%、5.04%、10.30%、2.92%和7.37%、3.88%、11.64%、3.31%。秸秆还田和增施磷肥均能提高小麦穗数、穗粒数、千粒重和产量,且除千粒重外同一秸秆还田下均随施磷量的提高呈先升后降趋势。S1P3与S0P3相比,小麦穗数和产量在2020—2021年度分别提高4.74%和3.78%,在2021—2022年度分别提高9.06%和4.51%,且2021—2022年度的穗粒数也提高5.25%。综上,秸秆还田配施150 kg hm^(-2)磷肥(S1P3)是豫西旱地及其类似生态区小麦适宜种植方式。展开更多
为明确秸秆还田和施磷量对旱地小麦籽粒淀粉品质和相关酶合成的影响,以洛旱22为材料,采用裂区试验,主区为玉米秸秆还田处理,分别为秸秆不还田(S0)、秸秆全量还田(S1),副区为施磷量,设5个水平分别为0 kg hm^(-2)(P0)、75.0 kg hm^(-2)(P1...为明确秸秆还田和施磷量对旱地小麦籽粒淀粉品质和相关酶合成的影响,以洛旱22为材料,采用裂区试验,主区为玉米秸秆还田处理,分别为秸秆不还田(S0)、秸秆全量还田(S1),副区为施磷量,设5个水平分别为0 kg hm^(-2)(P0)、75.0 kg hm^(-2)(P1)、112.5 kg hm^(-2)(P2)、150.0 kg hm^(-2)(P3)、187.5 kg hm^(-2)(P4),研究了秸秆还田和施磷量对小麦籽粒产量、淀粉及其相关酶活性的影响。结果表明,秸秆还田和增施磷肥均能提高小麦穗数、穗粒数、千粒重和产量,相同秸秆还田处理下均随施磷量的提高呈先升后降趋势,且除千粒重外均表现为P3最高。2个年度,小麦产量在S1P3处理下较S1P0分别提高了35.70%与49.32%;小麦籽粒直链淀粉、支链淀粉、总淀粉的含量随生育时期推进均呈持续升高趋势,随施磷量的提高均呈先升后降趋势,总体上在P3水平达到最大。在同一施磷水平下,小麦籽粒直链淀粉、支链淀粉含量均表现为S1大于S0处理。2021—2022年度秸秆还田和施磷的互作效应对支/直淀粉比例在花后5~20 d有显著或极显著的影响;2022—2023年二者的互作仅对花后5 d支/直淀粉比例有显著影响。2年度,随生育时期的推进,各处理籽粒蔗糖合成酶、腺苷二磷酸葡萄糖焦磷酸化酶、可溶性淀粉合成酶、束缚性淀粉合成酶活性均表现为先增后降趋势,而籽粒磷酸蔗糖合成酶呈持续降低趋势。无论秸秆还田与否,腺苷二磷酸葡萄糖焦磷酸化酶与束缚性淀粉合成酶活性均随施磷水平的升高表现为先增后降趋势,总体在P3处理最高。综上,秸秆还田配施磷150 kg hm^(-2)(S1P3)是本试验条件下小麦最适种植方式。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.
文摘为了明确秸秆还田和施磷量对豫西旱地小麦土壤酶活性和产量形成的影响规律,2020年10月至2022年6月,以洛旱22为材料,采用裂区试验设计,主区为玉米秸秆还田:秸秆不还田(S0)、秸秆全量还田(S1),副区为施磷量:P0 (0 kg hm^(-2))、P1 (75.0 kg hm^(-2))、P2 (112.5 kg hm^(-2))、P3 (150.0 kg hm^(-2))和P4 (187.5 kg hm^(-2)),测定了土壤酶活性以及小麦干物质转运特征、籽粒灌浆动态和产量及其构成因素。结果表明,0~20 cm与20~40 cm土层中土壤速效磷含量及土壤脲酶、蔗糖酶、过氧化氢酶和碱性磷酸酶活性,以及小麦籽粒最大灌浆速率(V_(max))、最大灌浆速率出现时间(T_(max))、灌浆速率达到最大时的籽粒生长量(W_(max))、平均灌浆速率(V_(mean))、灌浆渐增期持续时间(T_(1))以及快增期持续时间(T_(2))在同一施磷水平下均表现为S1高于S0,在同一秸秆还田处理下均随施磷水平的提高呈先升后降趋势,总体表现为P3处理最高。同一施磷量下,花后干物质同化量及其对籽粒的贡献率也均表现为S1高于S0,且在最高的P3处理分别显著提高38.67%和5.76%。秸秆还田和施磷量互作对土壤速效磷含量、土壤酶活性、小麦干物质转运特征、籽粒灌浆动态和产量的影响均达显著水平,且多在S1P3处理达到最大值。S1P3与S0P3相比,前后两年度土壤速效磷含量及土壤脲酶、蔗糖酶、过氧化氢酶活性分别显著提高5.32%、5.04%、10.30%、2.92%和7.37%、3.88%、11.64%、3.31%。秸秆还田和增施磷肥均能提高小麦穗数、穗粒数、千粒重和产量,且除千粒重外同一秸秆还田下均随施磷量的提高呈先升后降趋势。S1P3与S0P3相比,小麦穗数和产量在2020—2021年度分别提高4.74%和3.78%,在2021—2022年度分别提高9.06%和4.51%,且2021—2022年度的穗粒数也提高5.25%。综上,秸秆还田配施150 kg hm^(-2)磷肥(S1P3)是豫西旱地及其类似生态区小麦适宜种植方式。
文摘为明确秸秆还田和施磷量对旱地小麦籽粒淀粉品质和相关酶合成的影响,以洛旱22为材料,采用裂区试验,主区为玉米秸秆还田处理,分别为秸秆不还田(S0)、秸秆全量还田(S1),副区为施磷量,设5个水平分别为0 kg hm^(-2)(P0)、75.0 kg hm^(-2)(P1)、112.5 kg hm^(-2)(P2)、150.0 kg hm^(-2)(P3)、187.5 kg hm^(-2)(P4),研究了秸秆还田和施磷量对小麦籽粒产量、淀粉及其相关酶活性的影响。结果表明,秸秆还田和增施磷肥均能提高小麦穗数、穗粒数、千粒重和产量,相同秸秆还田处理下均随施磷量的提高呈先升后降趋势,且除千粒重外均表现为P3最高。2个年度,小麦产量在S1P3处理下较S1P0分别提高了35.70%与49.32%;小麦籽粒直链淀粉、支链淀粉、总淀粉的含量随生育时期推进均呈持续升高趋势,随施磷量的提高均呈先升后降趋势,总体上在P3水平达到最大。在同一施磷水平下,小麦籽粒直链淀粉、支链淀粉含量均表现为S1大于S0处理。2021—2022年度秸秆还田和施磷的互作效应对支/直淀粉比例在花后5~20 d有显著或极显著的影响;2022—2023年二者的互作仅对花后5 d支/直淀粉比例有显著影响。2年度,随生育时期的推进,各处理籽粒蔗糖合成酶、腺苷二磷酸葡萄糖焦磷酸化酶、可溶性淀粉合成酶、束缚性淀粉合成酶活性均表现为先增后降趋势,而籽粒磷酸蔗糖合成酶呈持续降低趋势。无论秸秆还田与否,腺苷二磷酸葡萄糖焦磷酸化酶与束缚性淀粉合成酶活性均随施磷水平的升高表现为先增后降趋势,总体在P3处理最高。综上,秸秆还田配施磷150 kg hm^(-2)(S1P3)是本试验条件下小麦最适种植方式。
