Formosa Plastics Research Articles

Application of deep learning and statistical methods in predicting Taiwanese stock trends

Since its inception, the stock market has been a topic of considerable interest. Its variation and the complexity of integrating technology into the stock market have made it difficult for stock market trends to be fully understood. Various metrics and analytical approaches have been proposed in response to such changes, ranging from purely technical metrics to hardware upgrades. The widespread application of deep learning in the stock market, from basic metrics (opening price, closing price, highest price, lowest price, trading volume) to machine learning in sentiment analysis, further increases the possibility of increasing profits. Some front-end techniques, such as noise reduction through mathematical models, enhance the accuracy of deep learning models. However, few studies have centered on predicting long-term stock price changes. The traditional moving average (MA) cannot rapidly reflect drastic changes on its curve even though it can display trends; therefore, this study proposes an MA-based approach that improves the 200-day MA such that its delayed response to actual prices in real-time can be overcome. This deep learning model training was performed by combining 200-day MA data with two other types of MA data, thereby creating a new approach to metric analysis. The sample consisted of stocks of 13 Taiwanese companies with a high market cap: Taiwan Semiconductor Manufacturing Co., Ltd., MediaTek Inc., Chunghwa Telecom Co., Ltd., Fubon Financial Holding Co., Ltd., Cathay Financial Holding Co., Ltd., Nan Ya Plastics Corp., United Microelectronics Corp., Delta Electronics, Inc., CTBC Financial Holding Co., Ltd., Mega Financial Holding Co., Ltd., Formosa Chemicals & Fibre Corp., Hon Hai Precision Industry Co., Ltd., and Formosa Plastics Corp. Through multiple evaluation metrics, the experimental results revealed that the proposed model performed better in general than the traditional MA model for all stocks.

Can the village speak? Leftist Assignment Theater and documentary theater in Taiwan

ABSTRACT This essay examines the genre of documentary theater with a particular focus on environment issues by the theater group “Assignment Theater” (chaishi juchang). Chung Chiao, the founding leader of Assignment Theater, was inspired by Taiwanese leftist writer Chen Ying-zhen and began his collaboration with People’s theater groups in many Asian countries since the 1990s post-Cold war period. Chung investigates histories, social issues and current circumstances through testimonial performances and documentary dramas with villagers, aiming to develop esthetic and critical reflections on social and cultural issues. In 2016, Chung directed and produced a work of documentary theater entitled Return to Hometown: A Story of Taixi Village by focusing on how villagers were suffering from severe air pollution, marginalization, and the complexity of their experiences since the launch of the Formosa Plastics Corp’s (FPC) sixth naphtha cracker complex in 1998. The essay starts with a critical question raised by Spivak’s “Can the Subaltern Speak” in the hope of re-locating the question in Return to Hometown. It continues to explore how Assignment Theater positions itself in the historical context of the leftist movement in post-war Taiwan by paying attention to the people. By re-examining the above, the essay discusses the ways in which environmental discourses, the village people, documentary theater, and the imagined subject of Taiwan nationality, etc. are interwoven.

Late Industrialism, Advocacy, and Law: Relays Toward Just Transition

A landmark citizen’s lawsuit against Formosa Plastics Corporation in Seadrift, Texas resulted in funds for environmental monitoring, clean-up, research, and education. $20 million is set aside for “creating a cooperative that will revitalize depleted marine ecosystems and develop sustainable fishing, shrimping, and oyster harvesting.” It is an exciting project for many reasons, exemplifying what the work of “just transition” looks like on the ground. Work toward just transition in Seadrift will be multifaceted and extensive in both space and time. In what follows, we describe the contexts and contours of this work, highlighting developments before, within and after the Waterkeeper’s historic legal win, and the different kinds of work required at each stage. These sequential labors of law, we argue, are usefully conceptualized as a far-from-straightforward relay, with many runners, and many detours. Our goal is to convey the especially complex challenge of environmental advocacy and just transition in late industrial contexts.

Influence of an industrial discharge on long-term dynamics of abiotic and biotic resources in Lavaca Bay, Texas, USA

The current study seeks to identify possible anthropogenic and/or natural environmental stressors that may account for the long-term decline of ecosystem health in Lavaca Bay, Texas, USA. The Formosa Plastics Corporation instituted monitoring of an industrial discharge into the bay with 16 fixed point stations and quarterly sampling from 1993 to 2020. Comprehensive measurements included organic and inorganic solutes in surface water, porewater and sediment, sediment content, plankton, nekton, and infaunal benthos. All parameter trends changed over time due to climate, freshwater inflow events, and/or seasonal changes. Biological community structure and sediment changed with distance from the discharge site. Dominance characterized community structure because three to four taxa comprised > 70% of individuals for nekton (trawl and gill net), phytoplankton, zooplankton, and ichthyoplankton samples. Sediment became sandier over time (48 to 75%) and away from the discharge. Surface water and porewater at reference (R) stations and stations near the discharge site had similar hydrographical and biological trends over time, indicating no long-term impact due to the discharge. However, 99.9% of 424,671 measurements of organic contaminants were non-detectable because the methods were insensitive to ambient concentrations. Thus, it is still not known if contaminants play a role in the long-term decline of ecosystem health in Lavaca Bay. Furthermore, only four R stations were sampled and were all 3810 m from the discharge site, so it is possible that trends in R stations do not represent the natural background. Future studies should include more R stations and lower detection limits for contaminants.

Foreign capital and US states’ contested strategies of internationalisation: a constructivist analysis

ABSTRACT The article presents a Constructivist framework for subnational diplomacy (aka paradiplomacy), critiquing the Neoliberal assumptions regarding US states' search for foreign capital as driven by ‘objective' market forces, free of intra-subnational conflicts and geopolitical implications. Using Formosa Plastics' investment projects in Texas and Louisiana as case studies, it argues that paradiplomatic agency—rather than restricted to subnational executives—is located across a range of state and non-state subnational actors, who form intra-subnational, national and international coalitions when advancing or challenging US states' economic internationalization. Their contests over the purpose of international action and the locus of authority that speaks for subnational communities in the global marketplace reflect their intersubjective constructions of reality. Such constructions not only provide subnational actors with an understanding of themselves and their interests, but also delineate the boundaries of what is permissible and necessary, rendering certain internationalization strategies as ‘obvious’, while precluding others.

Formosa to pay $2.85 million in penalties

Formosa Plastics has agreed to pay $2.85 million in civil penalties and to correct alleged Clean Air Act violations at its petrochemical manufacturing facility in Point Comfort, Texas, the US Department of Justice announced Sept. 13 . The DOJ alleges 20 violations of the law, particularly risk management requirements that are designed to eliminate releases of hazardous air pollutants. A string of accidents from 2013 to 2016 injured some 40 workers, the DOJ notes. Their injuries included second- and third-degree burns and chlorine inhalation, requiring hospitalization. The incidents also caused property damage and release of extremely hazardous substances, such as hydrochloric acid. Under the agreement, Formosa must update its accident response and personal protection plans to prevent employee injury, conduct a third-party audit of its risk management practices and perform recommended corrective actions, and develop performance indicators to evaluate future compliance. In addition, the company agreed to assess its equipment

Community groups score against Formosa in St. James Parish, Louisiana

The US Army Corps of Engineers (USACE) announced earlier this month that it will require an environmental impact statement (EIS), involving a full environmental review, for the $9.4 billion plastics plant that Formosa Plastics has proposed building in St. James Parish, Louisiana. The decision is being hailed as a victory by community and environmental groups opposed to the plant. The announcement follows the USACE’s decision last November to suspend a permit issued in 2019 for construction of the plant as a result of concerns that alternate sites for the project hadn’t been considered because of inaccurate information. The USACE said at the time that it would reexamine other aspects of the permit. “As a result of information received to date and my commitment for the Army to be a leader in the federal government’s efforts to ensure thorough environmental analysis and meaningful community outreach, I conclude an EIS process is

Visualizing Taiwan's Formosa Plastics

research-article Open Access Share on Visualizing Taiwan's Formosa Plastics Author: Tim Schütz University of California, Irvine University of California, IrvineView Profile Authors Info & Claims InteractionsVolume 28Issue 4July - August 2021 pp 50–55https://doi.org/10.1145/3470484Online:30 June 2021Publication History 0citation1,593DownloadsMetricsTotal Citations0Total Downloads1,593Last 12 Months1,190Last 6 weeks83 Get Citation AlertsNew Citation Alert added!This alert has been successfully added and will be sent to:You will be notified whenever a record that you have chosen has been cited.To manage your alert preferences, click on the button below.Manage my Alerts New Citation Alert!Please log in to your account Save to BinderSave to BinderCreate a New BinderNameCancelCreateExport CitationPublisher SiteView all FormatsPDF

The Formosa Case: A Step Forward on the Acceptance of Citizen-Collected Evidence in Environmental Litigation?

In June 2019, a landmark court decision (San Antonio Bay Estuarine Waterkeeper, et al. v. Formosa Plastics Corporation, et al., hereafter referred to as the Formosa ruling) was issued in Texas, where a judge found a petrochemical company liable for violating the United States Clean Water Act. The case—initiated by a civic group—was mostly built on citizen-collected evidence involving volunteer observations of plastic pellets, powder and flakes in the water over a considerable time span. The contamination could not be proven through existing data held by competent authorities because the company never filed any record of pollution (Formosa ruling, XI.A, p. 17).^{<a id="xrn1" href="#n1">1</a>} In contrast to the majority of environmental pollution cases to date, the monitoring and data collection for this case was conducted by local residents who gathered a wealth of evidence of plastic pollution in water. Through a traditional case law and text analysis of the Formosa ruling, complemented by the analysis of surrounding communications, we explore why and how citizen-collected evidence was admitted and influenced the judge’s ruling. Although the case has some unique features, we identify possible arguments and lessons learned for other citizen-run monitoring initiatives, to strengthen their voice within environmental litigation. We close by suggesting an avenue for future research—especially in the European context, where the discussion is still in its infancy.

Formosa Plastics USA begins operation of new LDPE unit at Point Comfort site

The construction season is limited in northern countries due to the severe cold weather conditions and their detrimental impacts on concrete quality. Thus, there are excessive expenses required annually for insulation and energy-intensive heating systems for cold-weather concreting. This experimental study aimed to investigate the potential of using high-strength one-part alkali-activated blast furnace slag (AAS) in cold weather without the need for supplementary heating systems. Therefore, the impacts of different subzero curing temperatures on the hardened properties of one-part AAS mortar in comparison with cement mortar were assessed. After casting, mortars were immediately cured at a temperature of 23, −5, −10, and −20 °C, up to 56d. The results showed that the lower the curing temperature, the lower the UPV and compressive strength of cement and one-part AAS mortar; however when the curing period was fixed, one-part AAS mortar registered higher UPV and compressive strength than cement mortar at all curing temperatures. Owing to additional room temperature curing, the hardened properties of AAS mortar were significantly improved. The findings were further supported by microstructural and thermogravimetric analyses.

Army Corps suspends permit on Formosa plant

The US Army Corps of Engineers suspended a permit for the construction of Formosa Plastics’ $9.4 billion complex in St. James Parish, Louisiana, earlier this month, claiming that the Corps had elim...

Environmental justice and the politics of pollution: The case of the Formosa Ha Tinh Steel pollution incident in Vietnam

Research on environmental justice in authoritarian regimes, and in particular on how transnational networks support problem framing and claims-making in the absence of state-led democratic participation instances, is limited. This article uses the case of untreated wastewater from a steel mill owned by Taiwanese conglomerate Formosa Plastics Group, which caused mass fish deaths along coastal provinces in Vietnam in 2016, to explore how civic groups and local communities problematize official accounts of events and engage with transnational networks to make claims to environmental injustice. The paper highlights local narratives about the adverse impacts of the disaster on residents’ livelihoods and wellbeing, controversies over the causes of and responsibility for the disaster, and the role of transnational alliances with Taiwan in sustaining and magnifying claims to injustice. We argue that viewing issues such as the Formosa steel incident through a transnational environmental justice lens illuminates the effect of global and national processes of economic reform in shaping uneven environmental and social impacts from new infrastructure developments. We also argue that thinking in terms of transnational networks can make sense of the spaces which can emerge for claims-making in authoritarian contexts, where democratic participation instances and access to knowledge may be restricted.

Our ‘good neighbor’ Formosa Plastics: petrochemical damage(s) and the meanings of money

ABSTRACT Through its chronic pollution and recurrent explosions, the petrochemical industry is the source of constant damage for fenceline communities. Measures that might prevent or correct this damage are postponed with a local flow of money, a situation viewed through the prism of the different levels of damage, from chronic pollution to cancers and explosions. This article analyzes how a collective lawsuit launched against a petrochemical complex in Taiwan is challenging this economy. Formosa Plastics, the owner of the petrochemical complex, is one of the world’s largest chemical companies. Its ‘good neighbor’ policy includes a mix of political corruption, patronage care services and regular cash payments. Based on a four-year observation and in-depth interviews with the plaintiffs and other local sources, this article draws on the sociology of money to examine the ambiguous role of compensation in disputes over environmental and public health damage. I show that the search for justice and compensation nourishes a range of expectations. This includes, in proportion to the scope of the damage, a moral condemnation of the polluters and the prevention of further harm, in addition to economic assistance.

Formosa delays part of Louisiana project

A federal judge has approved an agreement between the government, Formosa Plastics, and opponents of a major petrochemical plant in St. James Parish, Louisiana, allowing the Taiwanese company to continue planned construction activities at the site. Formosa earlier agreed to delay work on a construction dock on the Mississippi River, near wetlands, and near five areas that may contain unmarked graves of formerly enslaved people at least through February. The plaintiffs agreed to withdraw an injunction opposing the project but claimed a temporary victory.

Ethylene hitting the market

US petrochemical makers are bringing a large slug of ethylene capacity online. Indorama Ventures has started up an ethylene cracker in Westlake, Louisiana, with capacity of 440,000 metric tons (t) per year. The facility had been closed since 2001, and Indorama revamped it to bring it back online. The output will back integrate Indorama’s ethylene oxide and glycol plant in Clear Lake, Texas, and the ethylene oxide–propylene oxide plant in Port Neches, Texas, that it recently acquired from Huntsman. Work on the cracker was completed last May, but Indorama didn’t start it immediately because of the availability of cheap ethylene. In another back integration, Shintech is starting up a 500,000 t ethylene cracker in Plaquemine, Louisiana. The plant will supply raw materials for its polyvinyl chloride business. Another vinyls producer, Formosa Plastics, is opening a cracker in Point Comfort, Texas, where it will bring a low-density polyethylene unit online in

Vinyl makers go sustainable

The Vinyl Sustainability Council has launched an initiative called +Vantage Vinyl to advance sustainability goals for resin suppliers, additive makers, material compounders, vinyl product makers, and others. The effort requires those who sign on to reduce landfill use and emissions and commit to health and safety improvements. So far, eight companies have signed on: Chemours, Formosa Plastics, Mexichem, Occidental Chemical, PolyOne, Shintech, Sika, and Westlake Chemical. The council is hoping to get more than 800 companies in the vinyl value chain, including siding manufacturers and pipe extruders, to sign on in the next 5 to 10 years, Ned Monroe, CEO of the Vinyl Institute, tells C&EN. The trade organization created the council and is helping to underwrite the new program. Program adherents will have to undergo annual third-party certification to verify that they are meeting goals and can use a +Vantage logo on their products. About 60% of pre- and

Study on the Climate Adaption Planning for an Industrial Company with Regional Risk of the Water Supply System—A Case in Taiwan

Extreme uneven spatial and temporal distributions of rainfall pose the risk of water shortage to the industries in Taiwan, particularly during dry seasons, which may be worsen under climate change. This study aims to develop adaptation actions for an industrial company to reduce the risk of droughts. The Formosa Plastics Corporation (FPC) in Chuoshui River watershed is selected as a study case and an integrated risk assessment tool of water resources TaiWAP is used. The water shortage of FPC is mainly in the dry seasons because the water rights of public and agricultural uses are prioritized over industrial use. The considered adaptation options including water reuse, a desalination plant, smart agricultural water management, and rainwater harvesting. The results show that the waste-water reuse and sea-water desalination are the most effective adaptation options, which reduces the water shortage risks 33–44% per day in the return period of ten years. The results are generalized for the reference of other studies. The risk assessment and adaptation measure identification of the company require regional information. Moreover, some adaptation measures that the company implements help reduce the water shortage of the region and are consequently beneficial to the company, e.g., smart agricultural water management.

Why are the Performances of Business Groups Different? A Case Study of Formosa Plastics Group and Far Eastern Group

This study examines the difference in performances of two business groups, Formosa Plastics Group and Far Eastern Group, under the impact of financial tsunami (2007.10.29~2017.8.10). The aim of this study is to help investors understand the operating model of business groups and use the herding effect to enhance the trading performance in financial markets. The empirical evidence shows that for the Formosa Plastics Group, the news impact curve (based on EGARCH model) including the leading company is flatter when the news impact is less than zero (that is, negative news impact) than the news impact curve excluding the leading company. In contrast, the news impact curve of the Far Eastern Group is steeper when the leading company is included. Moreover, when the leading company is included as an endogeneous variable in the model as a filter for the program trading simulation, results show that investors can profit from the Formosa Plastics Group.

Steady global demand forecast for catalysts

This chapter initially stresses how incidents have “a certain sameness” regardless of the year of occurrence. Then we will review four major US incidents that OSHA used as examples. These incidents were targeted as examples that must be understood to achieve President Obama’s Executive Order 13650 entitled “Improving Chemical Facility Safety and Security.” This chapter contains elements of the Formosa Plastics incident in Illinois, which focuses on human error and other issues. The chapter continues with the BP refinery incident in Texas City, Texas to highlight the process safety culture deficit and the tragic loss of life. The BP Texas City incident is also addressed by the “Baker Panel,” which generalizes the reality that many chemical/refining facilities lack a proper process safety culture. The Tesoro refinery incident in Washington State is covered for several reasons including why current regulations are not doing enough to mandate actual risk reduction and why regulations are not requiring inherently safer technology. This chapter concludes with a brief look at the Ammonium nitrate catastrophe in West, Texas.

Key success factors in enterprises practicing social marketing

Enterprises could create multi-service values of customer satisfaction, enterprise profit, and social benefit through Social Marketing. Constructing a positive Social Service Value Chain to achieve mind management in marketing would reinforce the core competitive advantages of an enterprise, enhance high-quality services, and lead the enterprise to sustainable management. With the Delphi Method, a questionnaire is applied to assess the key success factors in enterprises practicing Social Marketing. The superiors and the employees in Formosa Plastics Group were selected as the research participants for 200 questionnaires. A total of 133 valid copies are retrieved, with a retrieval rate of 67%. According to the overall weights of the key success factors in enterprises practicing Social Marketing, the following summary is concluded. 1. The evaluation criteria in Organizational Characteristics are ordered in the following way: Intrinsic Structure, Internal Environment, Cost Effectiveness, Organizational Advantage, Organizational Weakness, and Inspiration. 2. The evaluation criteria in the External Environment are ordered this way: Information Resources, Environmental Opportunities, and Environmental Threats. 3. The order of the evaluation criteria in Marketing Strategy is Appropriate Media, Targeted Objects, Market Selection, Market Response, and Behavioral Change. 4. The evaluation criteria in Process Orientation are ordered in the following way: Tracking Adjustment, Feedback Systems, Operation Performance, and Operation Processes.