Standardized Beta Research Articles

A Study on Analysing Risk and Return Profiles of Top Two Companies in Nifty 50

This study conducts a comparative analysis of the risk and return profiles of two leading software companies in the Nifty 50 index, Tata Consultancy Services (TCS) and Infosys, over the period from 2019 to 2024. The analysis aims to provide insights into the historical returns, volatility, and risk-adjusted performance of these companies using financial metrics such as standard deviation, beta, and alpha. Through hypothesis testing, the study evaluates correlations between risk and return, examining both companies’ sensitivity to market conditions. Findings indicate that while both firms offer positive alpha and substantial returns, TCS exhibits slightly higher stability, whereas Infosys shows higher volatility. The results provide valuable guidance for investors, highlighting considerations for portfolio diversification and strategic investment in the Indian IT sector. Keywords: Nifty 50, Risk-return analysis, volatility.

Bivariate Pareto–Feller Distribution Based on Appell Hypergeometric Function

The Pareto–Feller distribution has been widely used across various disciplines to model “heavy-tailed” phenomena, where extreme events such as high incomes or large losses are of interest. In this paper, we present a new bivariate distribution based on the Appell hypergeometric function with marginal Pareto–Feller distributions obtained from two independent gamma random variables. The proposed distribution has the beta prime marginal distributions as special case, which were obtained using a Kibble-type bivariate gamma distribution, and the stochastic representation was obtained by the quotient of a scale mixture of two gamma random variables. This result can be viewed as a generalization of the standard bivariate beta I (or inverted bivariate beta distribution). Moreover, the obtained bivariate density is based on two confluent hypergeometric functions. Then, we derive the probability distribution function, the cumulative distribution function, the moment-generating function, the characteristic function, the approximated differential entropy, and the approximated mutual information index. Based on numerical examples, the exact and approximated expressions are shown.

Effect of perceived value on customer satisfaction on audit services of financial statements: Case study of auditing companies in Hanoi

This study investigates the impact of perceived value on customer satisfaction on the financial statement audit services of independent auditing firms in Hanoi.The study used quantitative research design, interpretation, and use of a survey questionnaire with a Likert-type scale to measure perceived value (including quality value, value based on price, human value, emotional value, and social value) and customer satisfaction. The survey was distributed to a random sample of 302 respondents, including CFOs; Accounting Managers; Business Owners; Audit Committee Members; and Internal Auditors of 168 selected client companies of different industries and sizes. Regression results with a standardized beta coefficient show that all five dimensions of perceived value have a positive impact on customer satisfaction, with Quality Value and Emotional Value having the strongest impact. Based on the research results, some recommendations are made for auditing companies such as prioritizing quality, improving emotional value, optimizing prices, building strong relationships with customers and leveraging social value to increase customer satisfaction. customer satisfaction on financial reporting audit services, so that auditing companies can improve competitive advantage and build long-term relationships with customers

Portfolio Evaluation of Selected Large cap & Midcap Mutual Fund Schemes

"Wealth, place & power are no measure of sources. The only true measure is the ratio between what we might have been & what we have become". In this regard people should upgrade their knowledge & keep in pace with changing technology & market condition to reach their desired goal. As new opportunities are opening up in every field all over the world. The desired goal can achieve only when both theory and practical go together hand in hand. This article is such an attempt to understand or link the theoretical concept with that of practical applicability. It provides an in-depth analysis of Mutual Funds Schemes, encompassing their benefits, various facts crucial to understand and associated risks. Furthermore, the theoretical background of mutual funds, including the types of funds available, their advantages, and potential risks have been dealt with. The study majorly focuses on evaluating the performance of specific mutual fund schemes in the large-cap and mid- cap categories. By analyzing various portfolio evaluation models, including Sharpe, Treynor, and Jensen's alpha, as well as other metrics such as Standard Deviation, Beta, and Portfolio Return, the research aims to identify top- performing funds. The study utilizes correlation analysis and the ARIMA model to forecast the Net Asset Value (NAV) of the highest-ranked funds, providing insights into risk and return profiles, and assisting advisors in recommending suitable investment choices to investors. The study concludes by emphasizing the importance of professional management and diversification in investment, particularly within the dynamic and unpredictable stock market environment. Keywords: Risk, Return, Beta, Standard Deviation (SD), Net Asset Value (NAV) & Assets under Management (AUM), Autoregressive Integrated Moving Average (ARIMA)

Machine Learning for Accurate Energy Analysis of Double Beta Decay Events

Point-contact germanium detectors are used to detect and analyze particles and their decay processes. This research focuses on the search for a phenomenon known as neutrinoless double beta decay, where two neutrons within a nucleus transform into two protons, emitting electrons in the process. Unlike standard double beta decay, no neutrinos are emitted, suggesting that the neutrino may act as its own antiparticle, effectively canceling itself out. Detecting this process would provide crucial insights into the nature of neutrino mass. During such an event, the detector registers a spike in energy due to the emitted electrons, producing a step-like pulse in the output channels. The energy of the event is determined by the difference in charge between the ‘top’ and ‘bottom’ steps of the pulse. However, accurately determining the energy is complicated by the presence of a resistor in the detector, which causes the top step to decay exponentially back to a baseline in preparation for the next event. This decay makes it challenging to determine the true energy of the pulse. My work this summer focused on developing machine learning models to reconstruct the step-like nature of pulses from their decayed versions recorded by the detector. This involved constructing deep neural networks trained on inputs (decayed pulses) and corresponding targets (the original step pulses) to learn to accurately reconstruct the target from the input. Initially, the networks were trained on simulated detector data. Once proficient in reconstruction, electronic noise was added to the input pulses to simulate real-world conditions, under which the models were trained to remove both electronic noise and decay. The models were trained to handle pulses with varying decay constants to improve their generalization ability. These neural networks can now be applied to real detector data for accurate energy analysis of double beta decay events.

Higher striatal dopamine is related with lower physical performance fatigability in community-dwelling older adults.

Fatigability in community-dwelling older adults is highly prevalent and disabling, but lacks a treatment. Greater nigrostriatal dopaminergic signaling can ameliorate performance fatigability in healthy young adults, but its role in community-dwelling older adults is not known. We hypothesized that higher nigrostriatal dopaminergic integrity would be associated with lower performance fatigability, independent of cardiopulmonary and musculoskeletal energetics and other health conditions. In 125 older adults participating in the Study of Muscle, Mobility and Aging, performance fatigability was measured as performance deterioration during a fast 400 meter walk (% slowing down from the 2nd to the 9th lap). Nigrostriatal DA integrity was measured using (+)-[11C] dihydrotetrabenazine (DTBZ) PET imaging. The binding signal was obtained separately for the subregions regulating sensorimotor (posterior putamen), reward (ventral striatum) and executive control processes (dorsal striatum). Multivariable linear regression models of performance fatigability (dependent variable) estimated the coefficients of dopamine integrity in striatal subregions, adjusted for demographics, comorbidities, and cognition. Models were further adjusted for skeletal muscle energetics (via biopsy) and cardiopulmonary fitness (via cardiopulmonary exercise testing). Higher [11C]-DTBZ binding in the posterior putamen was significantly associated with lower performance fatigability (demographic-adjusted standardized Beta = -1.08, 95% CI: -1.96, -0.20); results remained independent of adjustment for other covariates, including cardiopulmonary and musculoskeletal energetics. Associations with other striatal subregions were not significant. Dopaminergic integrity in the sensorimotor striatum may influence performance fatigability in older adults without clinically overt diseases, independent of other aging systems.

Analisa Bangkitan Perjalanan di Wilayah Komplek Perumahan Safira Kota Jambi

From data from BPS (Central Statistics Agency) Jambi City, the population of Jambi City in 2022 is 619,553 people with an area of 205.38 km2, has 11 sub-districts. Safira Housing is one of the housing complexes located in Talang Bakung Village, Paal Merah District, Jambi City. Population Safira housing ± 455 people. The increase in trips made by a number of Safira housing communities will cause traffic jams during peak hours such as when leaving and returning from work. This research method uses multiple linear regression with independent variables consisting of the number of family members X1, the number of family members who work X2, number of family members attending school x3, with trip generation as variable Y and then analyzed using the SPSS application. The variable that has a dominant influence on the dependent (dependent) variable is based on the standardized coefficient beta value, namely the variable number of family members attending school/college (X3), number of family members (X1), and number of working family members (X2). The trip generation analysis model at Safira Housing is: Y 2.257 + 0.275 X1 + 0.227 X2 + 0.528 From this model, the factors that influence the generation of Safira Housing trips are obtained, namely the number of family members (X1), the number of family members who work (X2), the number of family members who go to school/college (X3). Based on the R Square value of 0.621, this means that 62.1% of trip generation at Safira Housing is explained by the independent variables in the form of number of family members, number of family members working, number of family members attending school/university.

A Graphical and Beta Analysis of the Effect of Increased Ethanol Production on the Volatility of Corn Prices

Increased demand for corn-based ethanol puts upward pressure on prices of corn and other commodities, such as soybeans, and possibly worsens their price volatility. The paper investigates the changes in agricultural commodities' standard deviation and beta sizes due to ethanol production in the US. Standard deviations and beta estimations are compared for the ethanol pre-expansion and expansion periods. The results indicate a high level of price volatility in the second period, which could be attributed to ethanol expansion.

Effect of Macroeconomic Factors on Mutual Funds Risk and Return: An Empirical Study from Bangladesh

This study aims to identify the influence of macroeconomic factors on the risk and return of mutual funds in Bangladesh. Monthly closing price data of 27 mutual funds from Bangladesh are collected from December 2015 to December 2022. Additionally, monthly data of 6 macroeconomic variables, i.e., deposit rate, export, import payments, remittance, broad money (M2) and GDP growth rate, are gathered for this study. This study utilized standard deviation and beta as risk measures, and the Sharpe and Treynor ratios are applied as risk-adjusted return (RAR) measures. All the risk and risk-adjusted return measures are computed using 12-months rolling window method. The random effect model of panel data analysis is applied to find the influence of macroeconomic variables on the risk and return of mutual funds. Overall findings indicate that macroeconomic factors significantly influence mutual fund risk exposure. On the other hand, risk-adjusted return (RAR) is also significantly influenced by the macroeconomic variables. This empirical evidence helps practitioners and institutional investors in their decision-making in the situation of market asymmetric. Keywords: Risk-Adjusted Return, Bangladesh, Mutual Fund, Standard Deviation, Beta, Sharpe Ratio, Treynor Ratio

Determinants and impact of postoperative atrial fibrillation burden during 2.5 years of continuous rhythm monitoring after cardiac surgery: Results from the RACE V prospective cohort study

BackgroundEarly postoperative atrial fibrillation (POAF) is common after cardiac surgery and is associated with late-POAF recurrences. However, little is known about the burden of POAF and its potential impact on long-term outcomes after cardiac surgery, particularly on the risk for late-POAF recurrences. ObjectiveThe purpose of this study was to establish the distribution of POAF burden and to determine the association between early-POAF burden and late-POAF recurrences during 2.5 years of continuous rhythm monitoring after cardiac surgery in patients with and without preoperative history of atrial fibrillation (AF). MethodsPatients undergoing cardiac surgery were prospectively enrolled and postoperatively continuously monitored with an implantable loop recorder for 2.5 years. All patients underwent extensive clinical assessment at baseline. During follow-up, all AF episodes were registered, and AF associated metrics, such as burden, were calculated for different time intervals. Early-POAF was defined as AF within first 90 postoperative days and late-POAF as AF after this interval. ResultsA total of 98 consecutive patients were included. POAF burden during the early postoperative phase was significantly higher compared to the late postoperative phase (P <.001). The longest individual POAF episode was strongly associated with increased POAF burden after adjusting for age, sex, and AF history (standardized Beta: 0.91, P <.001). Also, early-POAF burden was associated with late-POAF (re)occurrence after adjusting for age, sex, AF history (adjusted hazard ratio 1.93, 95% confidence interval 1.42–2.62, P <.001). ConclusionPOAF burden was significantly associated with the longest individual POAF episode duration. Additionally, greater early-POAF burden was associated with increased late-POAF incidence, highlighting its potential in estimating the risk for long-term POAF recurrences.

Green-adjusted share prices: A comparison between standard investors and investors with green preferences

We employ the green revenue factors of firms, used in the computation of the FTSE Russell 1000 Green Revenues index to create corresponding green-adjusted share prices. We compute the firm betas, under both the standard and the green-adjusted share pricing. Our findings suggest that tilting of firm stock returns towards green finance could change temporarily asset pricing views. The Fama-French risk factors display very high correlations between the two settings. Nevertheless, there are some significant differences between standard and green-adjusted betas during periods associated with green activism and positive political decisions of financially supporting the global climate action.

Identity Disturbance in the Digital Era during the COVID-19 Pandemic: The Adverse Effects of Social Media and Job Stress.

The empirical study aimed to explore the relationships among social media exposure, job stress, anxiety, and identity disturbance in a nonclinical setting in the COVID-19 pandemic context. An online questionnaire was administered to 282 participants in the United States of America (USA) during the COVID-19 pandemic. The study utilized a two-step Structural Equation Modeling (SEM) approach consisting of both measurement model and structural model testing. Relationships between the model variables of social media exposure, identity disturbance, anxiety, and job stress were analyzed using standardized beta coefficients, standard errors, t-values, and p-values. The results indicate that both social media exposure and job stress are associated with increased anxiety levels, which, in turn, influence identity disturbance. Moreover, there is a moderating effect of job stress on the relationship between social media exposure and anxiety, as well as the mediating effect of anxiety on the relationship between social media exposure and identity disturbance. The findings are valuable for organizations and can be used to develop programs aimed at mitigating the adverse effects of social media exposure on mental health. Prioritizing employee mental health through awareness and support initiatives is paramount, especially for those facing high stress and extensive social media use.

Understanding the Pathology of Major Depression in a Non-clinical Student Sample: The Role of Mental Pain, Cognitive Emotion Regulation, Self-Compassion, and Anxiety

Background: Severe psychological or mental pain is an experience of discomfort that can be associated with mental illness (such as major depression) or loss (such as the death of a child). Objectives: The aim of this study is to understand the pathology of major depression using a non-clinical student sample by assessing the roles of mental pain, cognitive emotion regulation, self-compassion, and anxiety. Methods: This cross-sectional study selected a sample (n = 300) using a multi-stage random cluster sampling method. Data was collected using the Orbach &amp; Mikulincer Mental Pain Questionnaire (OMMP), the Cognitive Emotion Regulation Questionnaire (CERQ), the Self-Compassion Scale-Short Form (SCS-SF), the Beck Anxiety Inventory (BAI), and the Beck Depression Inventory-II (BD-II). Results: The results of the forward multiple linear regression model showed significant standardized beta coefficients for the following variables: Anxiety and depression (β = 0.21, P = 0.002), mental pain and depression (β = 0.436, P &lt; 0.001), maladaptive cognitive emotion regulation strategies and depression (β = 0.21, P = 0.002), negative dimensions of self-compassion and depression (β = 0.082, p = 0.041), adaptive cognitive emotion regulation strategies and depression (β = -0.135, P = 0.031), and positive dimensions of self-compassion and depression (β = -0.078, P = 0.042). Additionally, the results indicated that 56% of the variance in depression is explained by mental pain, cognitive emotion regulation, self-compassion, and anxiety (P &lt; 0.001). Conclusions: The results of this study indicate that therapies focused on emotional regulation and self-compassion can effectively address emotional problems, anxiety, and depression in individuals with depression.

Effect of Elderly School Policy on Quality of Life among Thailand’s Senior Citizens: A Propensity Score Matching Approach

Background As Thailand’s population ages, promoting senior citizens’ quality of life (QoL) is crucial. In 2017, the Ministry of Social Development and Human Security launched the “elderly school” initiative to foster lifelong learning and enhance the QoL among senior citizens. However, comprehensive evaluations of its impact on QoL remain limited. Methods This cross-sectional survey aimed to assess the policy’s effect on QoL in Phetchabun province, Thailand. Using quota and systematic sampling, 1,374 senior citizens aged 60-80 participated. Propensity score matching (PSM) with a 1:1 match was employed to estimate the average treatment effect (ATE) of attending the elderly school on QoL. Additionally, multiple linear regression was analyzed to assess the association between QoL and its associated factors. Results PSM were matched successfully, the standardized difference was less than 10 percent, and the baseline after matching indicated balances with 687 elderly people in each group. The mean QoL score of the non-attending group was 44.40 (SD = 7.11), and that of the attending group was 57.50 (SD = 7.53). The ATE for elderly people attending school was 10.67 scores (95% CI: 9.67 – 11.67 scores) higher than those unattended. Being female, having monthly income higher than 20,000, having employment, having a caregiver, and attendance at elderly school were positively associated with QoL, and the standardized beta coefficients were 0.078, 0.059, 0.094, 0.066, and 0.550, respectively. Additionally, higher education was positively associated with higher QoL. Conclusion The elderly school policy significantly enhanced the QoL of the attending senior citizens. Findings suggest continued collaboration among stakeholders to sustain and optimize this policy for improved seniors’ QoL, which has the potential to utilize lifelong learning to create an inclusive framework for healthy aging among senior citizens.

Associations between residential environmental characteristics during pregnancy and birthweight and head circumference among term births: The Taiwan birth Cohort study

Exposure to environmental pollutants during pregnancy may cause adverse birth outcomes in newborns. This study examined links between exposure to various residential environmental characteristics during pregnancy and newborn birth weight/head circumference, using the Taiwan Birth Cohort Study (TBCS) database with 14,829 subjects. We conducted simple and multiple linear regression analyses to find out the associations between residential environmental characteristics (molds, environmental tobacco smoke [ETS], household insecticide use, and home renovation or painting) and birth outcomes (birthweight, head circumference), and adjusting for demographics and environmental variables. The standardized beta coefficients were calculated. We also analyzed whether the associations varied by newborn sex and maternal body mass index (BMI). The regression analysis indicated that molds on multiple walls at the residence were significantly associated with lower birthweight (standardized β = −0.025, p = 0.003) and with smaller head circumference (standardized β = −0.023, p = 0.008) than no mold on walls after adjustment. Exposure to ETS did not result in significance for birthweight reduction but a significant reduction in head circumference (standardized β = −0.018, p = 0.047). The birthweight reductions associated with molds were −0.024 SD (standard deviation) for boys and −0.028 SD for girls, whereas the head circumference reduction with molds was sex-specific, being only significant for girls (standardized β = −0.029, p = 0.021). The analysis on BMI-separated data indicated that all significance occurred to mothers having normal BMI. Mold presence correlated significantly with reduced birth weight and head circumference, while ETS exposure only reduced head circumference. Girls and mothers with normal BMI were more affected by these reductions than boys or under/overweight mothers.

Exploring the Extended Beta-Logarithmic Function: Matrix Arguments and Properties

The beta-logarithmic function substantially generalizes the standard beta function, which is widely recognized for its significance in many applications. This article is devoted to the study of a generalization of the classical beta-logarithmic function in a matrix setting called the extended beta-logarithmic matrix function. The proofs of some essential properties of this extension, such as convergence, partial derivative formulas, functional relations, integral representations, inequalities, and finite and infinite sums, are established. Moreover, an application of the extended beta-logarithmic function in matrix arguments is proposed in probability theory. Further, numerical examples and graphical presentations of the new generalization are obtained.

Comparison of fatigue life behavior between 4-point and uniaxial loading for L-PBF Ti–6Al–4V after HIP treatments

The present study investigated the effects of Hot Isostatic Pressing (HIP) on the fatigue performance of Laser Powder Bed Fusion (L-PBF) Ti–6Al–4V alloy under both 4-point bending and uniaxial testing. Three HIP-cycles were examined: standard, low temperature/high pressure (LTHP), and super beta. Moreover, an annealed heat treatment group was incorporated to compare against the HIP groups. The material microstructure was analyzed and compared across the heat treatments during the study, which showed the presence of α′ martensites, α+β Widmanstätten, and coarse equiaxed grains. Similarly, tensile and hardness testing were implemented to study the mechanical properties, where due to the effects of the HIP treatments, higher ductility but lower hardness values were recorded. Furthermore, fracture morphologies and stress-life (cycles-to-failure) (S–N) curves of the Ti–6Al–4V specimens concerning the fatigue behavior were analyzed. The HIP treatment groups behaved similarly during 4-point bending and uniaxial testing, with the LTHP obtaining a superior fatigue life behavior, followed by the standard and super beta HIP groups. In addition, the efficacy of HIP to reduce pores showed better results in the 4-point bending specimens, leading to few defects as fatigue initiators in contrast to the uniaxial specimens. Fractography results suggested that defects and microstructural features acting as fatigue crack initiators (FCI) govern the fracture behavior of uniaxial specimens. In contrast, only the presence of microstructural features controls the 4-point bending failure behavior.

Determining Interest in Using Mobile Banking Applications in the Greater Jakarta

This study aimed to analyze the influence of perceived usefulness, service features, security, and trust on the interest in using mobile banking (e-banking) applications in the Greater Jakarta area. Additionally, it identified the most dominant variable influencing the interest in using the applications. The focus of the investigation was on mobile banking applications offered by BCA and BNI. The method further included the collection of primary data and conducting various tests such as validity, reliability, normality, heteroscedasticity, and multicollinearity testing. Multiple linear regression, determination coefficient, f-test, and t-test were also used with questionnaire instruments. The validated data were obtained from 100 respondents selected through a non-probability survey, specifically using a purposive sampling method. The results showed that perceived usefulness, service features, security, and trust all influenced the interest in using mobile banking in Greater Jakarta. Based on the t-test results and standardized coefficient beta analysis, perceived usefulness evolved as the most dominant variable.

Risk-Return Analysis of Select Tax Saving Mutual Funds

The Indian stock market has been in existence since 1875 bestowing lesser range of instruments from companies to invest their money through general public. Since then, the awareness of investment has gained momentum amongst the general public and investors have become curious and intuitive to park their funds in some instrument to attain or gain profit or handsome returns from companies and the market. With the advent of Unit Trust of India (UTI) being formed during 1964 by a special legislature to function under the regulatory and administrative control of Reserve Bank of India (RBI) , it brought an innovative financial thought to the mechanism of investment by investors. Mutual Fund industry boosted the investors’ confidence that upheld capital appreciation, protection, tax burden and promoted financial stability. The researcher attempted to analyse the risk and returns of select tax savings scheme of mutual funds and point out the best tax saving mutual fund amidst the 11 selected funds using parameters like standard deviation, beta, sharpe ratio and treynor ratios for a period of 90 months from 2016 to 2023 taking Net Asset Values published by AMFI and the closing values of Bombay Stock Exchange Standard &amp; Poor (BSE S &amp; P) Sensex and also by using MS Excel for computing all the parameters manually rather than the already published data by many other sources. It was examined that Quant Tax Direct Plan (Growth Option) has good indicators to prove its performance. The research findings can aide investors’ decision with numerous benefits ranging from savings, returns, gains and risk management.

Vascular function and skeletal fragility: a study of tonometry, brachial hemodynamics, and bone microarchitecture.

Osteoporosis and cardiovascular disease frequently occur together in older adults; however, a causal relationship between these 2 common conditions has not been established. By the time clinical cardiovascular disease develops, it is often too late to test whether vascular dysfunction developed before or after the onset of osteoporosis. Therefore, we assessed the association of vascular function, measured by tonometry and brachial hemodynamic testing, with bone density, microarchitecture, and strength, measured by HR-pQCT, in 1391 individuals in the Framingham Heart Study. We hypothesized that decreased vascular function (pulse wave velocity, primary pressure wave, brachial pulse pressure, baseline flow amplitude, and brachial flow velocity) contributes to deficits in bone density, microarchitecture and strength, particularly in cortical bone, which is less protected from excessive blood flow pulsatility than the trabecular compartment. We found that individuals with increased carotid-femoral pulse wave velocity had lower cortical volumetric bone mineral density (tibia: -0.21 [-0.26, -0.15] standardized beta [95% CI], radius: -0.20 [-0.26, -0.15]), lower cortical thickness (tibia: -0.09 [-0.15, -0.04], radius: -0.07 [-0.12, -0.01]) and increased cortical porosity (tibia: 0.20 [0.15, 0.25], radius: 0.21 [0.15, 0.27]). However, these associations did not persist after adjustment for age, sex, height, and weight. These results suggest that vascular dysfunction with aging may not be an etiologic mechanism that contributes to the co-occurrence of osteoporosis and cardiovascular disease in older adults. Further study employing longitudinal measures of HR-pQCT parameters is needed to fully elucidate the link between vascular function and bone health.