Pool Of Assets Research Articles

Portfolio optimization by enhanced LinUCB

We study portfolio optimization through reinforcement learning, employing the contextual LinUCB approach to build an investment portfolio with changing market conditions. Contextual information enhances the LinUCB technique recommendation process, maximizing the efficacy of the model and the cumulative return. The recommendation criteria are to achieve the maximum level of confidence regarding the uncertainty surrounding the upward trend of asset returns within the pool of assets. Employing stocks from the Chinese A-share market, Hong Kong market, and US market as empirical tests, our findings demonstrate that the proposed model consistently outperforms the benchmark indices in our backtesting process.

Risks and Countermeasures of Internet Consumer Financial Asset Securitization: A Case Study of Jingdong Baitiao

Asset securitization is one of the most important innovations in the financial field in recent decades. The introduction of this financial instrument enables commercial banks to have both functions as "fund lenders" and "fund sellers". JD Baitiao is the product of asset securitization and is the first Internet credit consumption product in Chinese industry. Due to the huge demand in the credit market, it has been popular among users since its establishment in 2014. We will give a basic introduction to of JD and JD financial asset securitization: the development process and an introduction to the fundamentals of the whole company, including the background of the development of JD Baitiao in financial aspect, as well as the benefits of its appearance in stimulating consumption by users on JDs platform. We further provide an analysis of the JD Baitiao, including its background, transaction process, asset pool composition, and credit enhancement arrangement. issuance, pricing, to trading, also with its quota application, repayment forms, as well as its risk control system for users. Next, through data and chart analysis, we analyze the various aspects of the securitization risks. Last, based on our analysis, we recommend several ways to improve issuance efficiency and risk management capabilities.

Edge Computing Paradigms: Bridging the Gap between Software Engineering and IoT

This exploration presents a linked profound learning-based asset booking strategy to work on the general execution of edge-incorporated edge IoT networks. For an IoT network to complete a responsibility productively and inside the dispensed time, it should get the best assets from the edge layer. The choice and appropriation of ideal assets rely upon cautious asset booking. Previously, profound learning methods were made to coordinate edge networks with Internet of Things applications while bringing down information transmission inactivity. To further develop an IoT application's general viability and administration quality, it is important to think about a couple of extra measurements, for example, response time, holding up time, and data transmission necessities. A linked procedure using a gated recurrent unit and convolutional neural network is provided to accomplish this improved exhibition. To pick the best assets from the asset pool and disseminate them to the IoT networks, the proposed asset planning model thinks about the qualities and necessities of the assets. This work presents an intensive examination of the connected strategy and exploratory perceptions.

Load Adjusting Employing Stochastic Slope Climbing in Distributed Computing

A virtualized PC asset pool is another concept in distributed computing. A very problematic Web-based enhancement is one in which highly adaptable and often virtualized resources are provided as assistance via the Web. Distributed computing describes a type of use as well as a stage. Depending on the circumstances, a distributed computing stage gradually configures, designs, reconfigures, and supplies servers. Cloud servers can be either physical or virtual equipment distributed throughout the company. As a result, it employs the organization's registered assets (administration hubs) to execute complex tasks requiring massive scope calculations. Then, selecting hubs (load adjusting) for implementing a distributed computing project needs careful consideration. The task's properties must be considered while choosing hubs to maximize asset viability. This paper proposes a load-adjusting method based on delicate registering. A technique for neighbourhood enhancement to distribute the approaching location to the servers or virtual machines (VMs), stochastic slope climbing, is used. The computation's execution is examined subjectively and quantitatively using Cloud Analyst. Cloud Analyst is a visual modeller for distributed computing conditions and applications based on Cloud Sim. Similarly, a correlation is seen between the FCFS (the early bird gets the worm) computations and cooperative effort.

Property Separation. Responsibility of Heirs as a Case Study

The paper is devoted to the problem of legal separation of the testator’s property from the property of the heirs. The legal separation of property is understood as giving it a specific legal regime, including the division of property into different pools of assets owed to different creditors. In the comparative legal aspect, the author examines the practical advantages and disadvantages of various models of legal separation of inherited property or the absence of separation. The paper analyzes the problems of Russian regulation of the liability of heirs: the legislative certainty of the liability model; the perception of this model by judicial practice and doctrine; the fairness of the current distribution of risks of insolvency and destruction of inherited property between creditors of the heir and the testator; features of bankruptcy of the estate. Using the case of inherited property, general conclusions are formulated concerning the phenomenon of detached property as an independent phenomenon of civil law, different from the institution of limited liability and the phenomenon of a legal entity.

Особливості управління кредитним портфелем та кредитними ризиками комерційного банку в умовах необхідності стимулювання інвестиційних процесів в економіці

The article explores the theoretical and methodological aspects of managing the loan portfolio and credit risks of a commercial bank in the context of the need to stimulate investment processes in the economy. The article considers the essential characteristics of the loan portfolio of a commercial bank and allocates its key features with clarification of their economic content in terms of the qualitative aspect of formation and management of the pool of credit assets. The study examines current approaches to assessing the credit portfolio of a commercial bank, taking into account its key characteristics. Indeed, based on the results of monitoring the quality of the credit portfolio, it is possible to formulate a set of proposals for managing credit assets and assess the adequacy of measures implemented by the bank's management in the face of economic uncertainty to maintain competitive positions on the credit services market. A review of the dynamics of lending to non-financial corporations and households by maturity is carried out through the prism of the potential use of these borrowed financial resources to intensify the investment activity of economic entities.

A mixed-integer linear programming approach for collateral management

Collateral management involves the efficient monitoring and allocation of assets to mitigate credit risk in financial transactions and is crucial for institutions such as commercial banks, investments banks, and central counterparties. It helps to ensure financial stability and compliance with regulatory requirements. This study is centered on a fundamental objective of collateral management, namely to collateralize as much as possible a set of transactions given a limited asset portfolio. In practice, an allocation is dynamic, necessitating periodic adjustments due to fluctuations over time in the asset pool, the transactions set, and asset value. Consequently, the objective is not merely the identification of an optimal allocation from zero but the optimization of an obsolete allocation in response to these fluctuations. The size and complexity of real-world problems often preclude direct resolution through conventional MILP solvers. In addition, each collateral adjustment movement incurs associated costs. In this research, a two-step method based on linear and mixed-integer linear programming formulations with ℓ1 penalties is devised, with the principal aim of minimizing under-allocation while simultaneously controlling the number of adjustment movements required. The method is tested on 20 real-world collateral givers and invariably reaches a good trade-off between solution quality, computational time, and the number of movements.

Concept and implementation of an adaptive digital hearing training system for cochlear implant aftercare

Within the context of an interdisciplinary research project, we created acutting-edge prototype of an adaptive digital auditory training system designed for cochlear implant (CI) users. By leveraging the evidence-centered design (ECD) framework, we integrated adynamic difficulty adjustment feature that tailors the experience to the unique performance capabilities of each individual user. The ECD provides aconceptual design framework suitable for complex assessments of competence and dynamic performance. In the first phase, the domain of hearing was first defined in the context of CI users. In the development phase the three core models of the ECD, the competence model, the evidence model, and the task model, were developed and implemented. In addition, an asset pool of sound and language files was created, which included comprehensive linguistic feature descriptions for calculating item difficulties. Based on the requirements described, an adaptive exercise generator, an AI service, and other components were implemented. This included the development of agame environment and adashboard for patient data management. The exercises' difficulty levels were determined based on various parameters (e.g., sound, word frequency and number of words, grammatical properties) in combination with defined task types and levels. An adaptive digital auditory training system can help to supervise and train CI patients in acontinuous, interactive process based on their individual needs. We see the ECD as an effective way to build auser-based adaptive system.

Application of Mean-variance Model in Optimizing Stock Portfolio

Constructing an optimized stock portfolio is pivotal in achieving enhanced returns with managed risks. Utilizing data from 2022, the study employed the mean-variance model to determine the optimal allocations for five prominent stocks: Intel (INTC), Johnson & Johnson (JNJ), Coca-Cola (KO), Netflix (NFLX), and Procter & Gamble (PG). In the formulations of both maximum Sharpe ratio and minimum variance portfolios, the stocks with the predominant allocations are NFLX and PG, with respective weights of 47.04% and 45.89% for the former, and 58.05% and 29.61% for the latter. Upon establishing these weightings, the cumulative returns for 2023 were calculated, revealing that the constructed portfolios notably outperformed the broader stock market. This research underscores two key observations: firstly, the NFLX and PG stocks emerge as cornerstones in the optimal portfolio composition; and secondly, these allocations, when evaluated with 2023 data, underscore their efficacy. Robustness checks, which expanded the asset pool, further validated these findings. Ultimately, this study serves as a valuable guide for investors in the financial market, presenting a structured blueprint for effective portfolio assembly.

The way to induce asset‐backed securities participation in eco‐compensation

AbstractBy establishing an ecology compensation asset securitization project, market mechanisms can be used to regulate the interests of stakeholders in ecological conservation. Previous studies have shown that combining asset securitization with environmental protection can effectively promote the sustainable development of both economy and environment. However, there is still a lack of research on the stable mechanisms and impact of integrating ecology compensation and asset securitization. In this study, we propose a comprehensive operating model for ecology compensation asset securitization and a specific valuation framework supported by a multi‐period, multi‐state Markov model for ecology compensation asset securitization. If the project's net present value is positive, it can effectively reduce the risks of ecology compensation projects and increase the return rate of ecology compensation asset securitization projects. By employing the case study of ZhongHang ShouGang Green Energy (SZ:180801) and implementing the asset pool valuation using the multi‐state Markov model, the deviation error is 0.89%, validating the effectiveness of the model. Additionally, sensitivity analysis from simulation results indicates that changes in interest rates and default probabilities are the main factors influencing the valuation of the asset pool. After summarizing the research conclusions, relevant policy recommendations and future prospects are presented. This research aims to provide reference for the development and application of ecology compensation asset securitization.

Securitization Enhancing Liquidity in Kenya

Purpose: This paper aims to explain the benefits of securitization in Kenya’s economy that is to both the government, the private sector, and the Kenya capital market. The paper provides a road map on how the government and private sector can diversify their funding sources, lower borrowing costs, improve liquidity, and transfer risk. It will help offer clear policy direction to government policymakers in efforts geared towards the introduction of asset securitization in the country which will increase liquidity, economic growth, and expansion of capital in the country. The regulator of the financial market Capital Market Authority (CMA) will therefore formulate guidelines and regulatory requirements that can enhance the performance of the securitization industry. The paper will also be useful to corporate strategists of companies as they seek to optimize return considerations in driving shareholder wealth margins. The paper is expected to motivate and be a key reference for future research work in the securitization industry in Kenya. Securitization is one of the innovative products that may be used by government and private firms and investors to increase wealth.
 Methodology: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library
 Findings: Securitization will bring benefits in terms of growth in the economy and expansion of capital markets and hence wealth creation. Securitization involves the conversion of a pool of assets with a regular and predictable cash income such as mortgage repayments receivables, and credit card receivables e,t,c into a security or marketable instrument that allows the institution to transact a large number of its assets, which would otherwise not be attractive as individual. The originator who will be the financial institution or the government then creates a legal entity known as a Special Purpose Vehicle (SPV). The special purpose vehicle may be in the form of a Limited Liability Company, a trust, a partnership, or even a subsidiary of the Originator. These selected receivables are then transferred to the special purpose vehicle which then becomes the owner of these receivables. The securities to be issued by the special purpose vehicle are usually rated by a rating agency. This is due to the fact that such instruments are unsecured, which will require that investors are protected.
 Unique Contribution to Theory, Practice and Policy: Profit maximising theory and theory of innovation can be used to anchor future studies on securitization enhancing liquidity. If the Government or the financial institution wants to issue 'AAA' rated asset-backed securities or mortgage-backed securities, collateralized mortgage securities, or collateralized debt obligations (CDOs)then they must choose first-class loans not prone to prepayment and default risk where originators conduct their own rating, they select all the best asset bundles for investment. In order to get a favorable rating, the special purpose vehicles can provide credit enhancement to the securities.

Acceptance of large corporate receivables as collateral – the practice of the Magyar Nemzeti Bank in view of the principles of collateral management, with a specific focus on legal risks

In the spring of 2020, the Magyar Nemzeti Bank (MNB) expanded the pool of assets eligible as collateral for central bank lending by accepting loans granted to large corporates customers as collateral, thus widening the lending channel between the MNB and credit institutions and providing credit institutions with a wider leeway in ALM (Asset-Liability Management). In this paper we analyse the MNB’s framework of conditions for the eligibility of large corporate receivables in respect to the principles of collateral management including, in particular, the management of legal risks. The inclusion of such transactions as collateral is challenging from both a legal and an operational perspective, since eligibility for use as collateral requires the development of a framework that fully ensures the enforceability of large corporate receivables accepted as collateral, and compliance with all other relevant collateral management principles. It is concluded from the analysis that a set of strict conditions and the operational framework supporting it can ensure the management of legal risks, but can also be noted that there may be trade-offs between simple asset-liability and liquidity management, and compliance with the complex system of corporate receivables conditions.

A novel approach to screening patents for securitization: a machine learning-based predictive analysis of high-quality basic asset

PurposeThis paper aims to provide a complete analysis framework and prediction method for the construction of the patent securitization (PS) basic asset pool.Design/methodology/approachThis paper proposes an integrated classification method based on genetic algorithm and random forest algorithm. First, comprehensively consider the patent value evaluation model and SME credit evaluation model, determine 17 indicators to measure the patent value and SME credit; Secondly, establish the classification label of high-quality basic assets; Then, genetic algorithm and random forest model are used to predict and screen high-quality basic assets; Finally, the performance of the model is evaluated.FindingsThe machine learning model proposed in this study is mainly used to solve the screening problem of high-quality patents that constitute the underlying asset pool of PS. The empirical research shows that the integrated classification method based on genetic algorithm and random forest has good performance and prediction accuracy, and is superior to the single method that constitutes it.Originality/valueThe main contributions of the article are twofold: firstly, the machine learning model proposed in this article determines the standards for high-quality basic assets; Secondly, this article addresses the screening issue of basic assets in PS.

Peran dan Tanggung Jawab Notaris Dalam Pembuatan Akta Perkawinan Campuran

Through globalization, marriage can not only be done between Indonesian citizens but can also be done with foreigners. As is known, with marriage, there is also pooling of assets between Indonesian citizens and foreigners. This has an impact on Indonesian citizens who cannot own land and buildings in Indonesia. Therefore, the role of a notary is needed in doing an authentic deed in the form of a Mixed Marriage Deed or known as a Mixed Marriage Agreement. The purpose of this study is to examine and analyze the roles and responsibilities of a notary in making mixed marriage deeds. This study uses a normative legal research method with a statutory approach, cases in the form of decisions, and analysis. The results showed that there were problems related to the making of a mixed marriage deed made by a notary. These problems are in the form of a notary who does not provide legal counseling on the deed that the clients want to make (Indonesian citizens and citizens of a foreign country), does not translate or explain the deed if the appeared does not understand, and does not write it down at the end of the deed that a translation or explanation has been carried out because the present does not understand the language used written in the deed. In addition, with these problems, the strength of proof and the legal consequences of the act made by the notary are affected. Therefore, notaries in carrying out their positions must be guided by Notary Department Law.

Nexus Between Vulnerability, Livelihoods and Non-Migration Strategies Among the Fishermen Communities of Sundarbans, Bangladesh

This article investigates the reasons behind the non-migration of fishermen communities living adjacent to the Sundarbans in Bangladesh. In addition to the livelihood strategies of these communities living in the southern districts of the country, this article explores a symbiotic relationship among livelihoods, risks and natural resources in understanding the fishermen’s choice of locations in these vulnerable areas. We have adopted a mixed scientific approach method in collecting, analysing and summarizing obtained information. We have employed a triangulation schema in the study, that is, collected data from multiple sources to compare and use relevant methods to check consistencies. On analysing the data collected from field investigation, it can be concluded that a critical relationship exists among livelihoods, risks and the immobility of the fishermen community in the Sundarbans. Their non-migration can be explained between voluntary and non-voluntary movements depending on livelihoods, vulnerability and available resources. The findings reveal that households seek to mobilize resources and opportunities to combine them into a livelihood strategy which includes the following: (a) natural resource extraction; (b) diversified income generation; (c) borrowing and investment; (d) labour and asset pooling; and (e) social networking. Finally, this study concludes that this process of combining and transforming different assets for livelihood strategies can be explained as an autonomous adaptation process.

Government Investment Behavior: Evidence from California Pooled Money

Local governments are playing an increasingly prominent role in the global investment area by holding large publicly-held pools of assets. The incentives for bureaucrats’ engagement in financial investment and their expertise are presumably distinctive from professional investors in the private markets. Therefore, it’s intriguing to study these government-held funds’ investment patterns and performance. To investigate these problems, this paper uses a hand-collected and novel data set that covers the transaction details of the California government pooled money investment account (PMIA) from 2014 to 2020. This paper presents a statistical analysis of the investments in the last 7 years and study the differences and similarities in behavior and performance between government investments and mutual funds. This paper also presents a model to measure the similarity of funds. I construct two relevant funds that require different levels of sophistication in selecting securities and activeness but are similar to the PMIA in other dimensions. Then I compare their performances with PMIA’s performance in the next period. This paper concluded that the government does perform worse and it is not because of their passive strategy but because of a lack of sophisticated skill. This paper provides new evidence of government investment behavior by rigorous statistical methods.

Cloud Computing

Abstract: The world of computer networks and information technology is evolving at an enormous rate. In which cloud computing is one of the few methods to provide users with the data, resources in a more efficient way. Cloud computing is seen as a more advanced version of computer grid inclusive of virtualization and resources sharing. Distributed computing over the internet is another new innovative technique using storage and the internet as one. "The Cloud" is an idea used to portray the virtual idea of advanced stockpiling, which can mean the information is put away on workers genuinely positioned in numerous geological areas. Cloud computing is the method for getting to a common pool of configurable assets that can be quickly given, utilized and delivered with insignificant exertion with respect to clients or specialist organizations. Cloud computing is arising at the combination of three significant patterns—administration direction, virtualization and normalization of storing through the Internet

Венчурний бізнес в Україні: сучасний стан та передісторія розвитку

The current state of development of venture entrepreneurship was analyzed, the structure of assets of venture funds in Ukraine was investigated. The article highlights the stages of formation and birth of venture business in Ukraine, analyzes the differences between the functioning of venture business in our country and other developed countries, and determines the ways of further development of the venture industry. The article analyzes the advantages and disadvantages of venture capital investment for venture capital market participants. The main sources of funding for innovative developments in Ukraine have been identified. The stages of initiation and development of venture investment mechanisms in Ukraine through joint venture investment institutes are analyzed. The dynamics of the number of asset pooling companies and joint investment institutes and the structure of assets of venture capital investment institutes were studied. The authors investigate the problems of local venture business development in the pre-war period. Peculiarities of Ukrainian investment legislation are studied, and special attention is paid to the lack of specific legislation to stimulate the activity of venture capital institutes of joint investment. The article proposes to pay special attention to the role of the state and local authorities in the formation of a favorable climate and ecosystem for start-up entrepreneurship. Among the measures that need to be taken to preserve the local venture and startup industry in wartime, it is proposed to develop a legal framework to stimulate the functioning of venture business, a system of tax incentives to keep local startups in the local ecosystem, to form a multi-level system of training specialists for the innovation sphere, promote support from the international community of the local innovation sphere to support the competitiveness of the local market of innovation projects.

The Intervening Effect of Investment Policies on the Relationship between Corporate Governance and Performance of Pension Fund Managers in Kenya

The pension fund is a common asset pool meant to generate stable growth over the long term, and provide pensions for employees when they reach the end of their working years and commence retirement. These targeted investments often require union built construction or are aimed at job creation and retention as in the case of private equity investments. Pension fund performance has received increased attention across the world with public pension fund performing dismally when compared to private pension fund.. This study sought to determine the intervening effect of investment policies on the relationship between corporate governance and performance of pension fund managers in Kenya. The study employed a cross sectional survey design whereby access to the widest possible amount of data from the targeted Fund Managers in Kenya was sought. The population of interest of the study was 31 Fund Managers in Kenya licensed by RBA and CMA. The study used purely primary data sources. Primary data was obtained from the selected respondents. Primary data was collected through questionnaire. Regression analysis was used to establish the relative significance of each of the variables on the influence of corporate governance on the performance of pension fund managers in Kenya. The study findings indicated that there exists a partial mediation effect on the mediating role of investment policies on the relationship between corporate governance and performance of pension fund managers. The study thus, rejected the null hypothesis and adopted the alternative hypothesis that there is a partial intervening effect of investment policies in the relationship between corporate governance and performance of pension fund managers in Kenya. The study recommends that the governing body of the pension fund should set forth in a written statement and actively observe an overall investment policy. The investment policy should establish clear investment objectives for the pension fund that are consistent with the retirement income objective of the pension fund and, therefore, with the characteristics of the liabilities of the pension fund and with the acceptable degree of risk for the pension fund, the plan sponsor and the plan members and beneficiaries. The approach for achieving those objectives should satisfy the prudent person standard taking into account the need for proper diversification and risk management, the maturity of the obligations and the liquidity needs of the pension fund, and any specific legal limitations on portfolio allocation. Keywords: Investment Policies, Corporate Governance, Performance & Pension Fund Managers.

Texas Private Equity Conference 2022: Session II: The Role of Private Equity and Debt in Reshaping the Ownership, Valuation, and Governance of Private Companies

Although the phenomenal growth of private equity investments into a $2 trillion market has been widely recognized, little is known about the recent rise of the private credit market, which has doubled to over $1 trillion in the past five years and generated annual returns of close to 9% during the past 15 years. In this panel, three private and public debt professionals discuss the interplay between private equity and debt, pricing pressures, competition for assets, and deal terms for private equity and debt investors in an increasing‐interest‐rate environment.Direct lending to PE‐owned firms has expanded dramatically since the 2008 global financial crisis, driven in significant part by the effect of Dodd‐Frank on traditional banks' lending to their core middle market segment. Alternative lenders such as Blackstone and Ares Capital Management have filled the resulting void in this large market. While much of this activity is direct lending to those small and mid‐market companies, another major part is structured or asset‐backed lending to a discrete pool of assets wherein repayment of that debt is derived solely from the contractual cash flows coming off those assets rather than from the company.Morgan Stanley's Vanessa Roberts explains how the private debt markets, as evidenced by their continued growth, complement public debt markets without supplanting them. But as Phil Canfield emphasized, private equity sponsors value the speed of execution and certainty of commitment along with fewer public disclosures that come with private credit. It's typically a less complex process, one that removes regulatory obstacles to risk‐reducing structures and ends up providing more flexible solutions. What's more, the dramatic expansion of private capital pools in 2021 has brought much more liquidity to the market and accelerated the move toward cash‐flow‐based lending.