Parameter Valuations Research Articles

ІНФОРМАТИВНЕ ЗНАЧЕННЯ ОКРЕМИХ ПОКАЗНИКІВ ОСЦИЛОГРАМ СУДИН ВЕРХНЬОЇ КІНЦІВКИ, ЗАРЕЄСТРОВАНИХ В ПРОЦЕСІ ВИМІРЮВАННЯ АРТЕРІАЛЬНОГО ТИСКУ

<p class="1">New approaches and valuation parameters of the cardiovascular system during the procedure blood pressure electronic pressure meter VAT41 -2. They are informative and promising directions for rapid diagnosis, daily monitoring, monitoring the effectiveness of treatment and research. Correlation was calculated to assess the interaction between different vallue cardiovascular system and show its relevance. Presented in this paper direction requires deeper study and interpretation of the obtained parameters.</p>

Parameter Synthesis for Timed Kripke Structures

We show how to synthesise parameter values under which a given property, expressed in a certain extension of CTL, called RTCTLP, holds in a parametric timed Kripke structure. We prove the decidability of parameter synthesis for RTCTLP by showing how to restrict the infinite space of parameter valuations to its finite subset and employ a brute-force algorithm. The brute-force approach soon becomes intractable, therefore we propose a symbolic algorithm for RTCTLP parameter synthesis. Similarly to the fixed-point symbolic model checking approach, we introduce special operators which stabilise on the solution. The process of stabilisation is essentially a translation from the RTCTLP parameter synthesis problem to a discrete optimization task. We show that the proposed method is sound and complete and provide some complexity results. We argue that this approach leads to new opportunities in model checking, including the use of integer programming and related tools.

Reengineering, crafting and comparing business valuation models – the advisory exemplar

Purpose – Does target firm shareholders excessively paid or adequately rewarded or stumpy compensated? To address this query, the study aims to remix valuation parameters for better combination of mixture so that it represents fair deal value in merger and acquisition (M&A) negotiation process. The purpose of the study is to redesign the existing valuation methods, craft new models and compare them to suggest perceptive guidelines for “valuation governance”.Design/methodology/approach – This research reconstructs discounted cash flows (DCF) and net asset valuations (NAV), originate NRR‐APB approach, MCF‐RS and MCF‐ES and finally compare all seven methods for each select company in the respective industry/sector. Exclusively, estimating the forecasting hurdle rate (FHR) is a core competence of valuation process.Findings – Among the valuation models, all seven methods for select companies have been reported diverse values, however NRR‐APB approach describe factual enterprise value for bargaining the value o...

COMPARATIVE STUDY OF ARCHITECTURE AND GEOMETRY OF THE DATE PALM MALE AND FEMALES INFLORESCENCES

The date palm, Phoenix dactylifera L. (Arecaceae), is a subtropical palm widely cultivated for numerous uses and ecosystematic services. The date palm is a dioecious species, which shows a marked dimorphism in inflorescence structure. To describe this dimorphism, architecture and geometry of male and female inflorescences were studied through kinetics of inflorescencial development and architectural and geometrical characterization of mature inflorescences. Two methodological approaches were used: a visual approach consisting of direct observations of inflorescence architecture of trees in situ and a technical approach through the valuation of different structural and geometric parameters of inflorescence. On every plant, inflorescence development is acrotone. Every palm leaf axils an inflorescencial bud. Inflorescence and female spikelets are longer than male ones. For female inflorescence, spikelets lengths are linked to their relative position on the rachis, the number of spikelets is on average 62, every spikelet carries 55 flowers on average. For male inflorescence, the length of spikelets seems independent of their relative position on the rachis. Number of spikes and flowers is higher with on average 236 spikes per rachis and 81 flowers per spike. In conclusion, architecture of male spikelets is more complex than female one. (Resume d'auteur)

Stochastic Compounding and Uncertain Valuation

Exploring long-term implications of valuation leads us to recover and use a distorted probability measure that reects the long-term implications for risk pricing. This measure is typically distinct from the physical and the risk neutral measures that are well known in mathematical nance. We apply a generalized version of Perron-Frobenius theory to construct this probability measure and present several applications. We employ Perron-Frobenius methods to i) explore the observational implications of risk adjustments and investor beliefs as reected in asset market data; ii) catalog alternative forms of misspecication of parametric valuation models; and iii) characterize how long-term components of growth-rate risk impact investor preferences implied by Kreps-Porteus style utility recursions.

PARAMETRIC VERIFICATION AND TEST COVERAGE FOR HYBRID AUTOMATA USING THE INVERSE METHOD

Hybrid systems combine continuous and discrete behavior. Hybrid Automata are a powerful formalism for the modeling and verification of such systems. A common problem in hybrid system verification is the good parameters problem, which consists in identifying a set of parameter valuations which guarantee a certain behavior of a system. Recently, a method has been presented for attacking this problem for Timed Automata. In this paper, we show the extension of this methodology for hybrid automata with linear and affine dynamics. The method is demonstrated with a hybrid system benchmark from the literature.

Research on Valuation Methods and Cost Control Measures of Hydraulic Fracturing in Shale Gas Horizontal Wells

Multi-stage hydraulic fracturing in horizontal wells has been more widely adopted for shale gas development. Fracturing cost control is the key point to guarantee shale gas development benefit. Currently, valuation standard of fracturing in shale gas large horizontal well has not been introduced in China. Based on conventional gas fracturing standard, which cost is determined by scale increasing, fracturing cost in shale gas is fairly high and is inconformity with the practical situation. This paper analyzes the characteristics of the horizontal wells fracturing and differences of 8 technical and economic parameters of the fracturing engineering in conventional gas. The advantages and disadvantages and the application scope of three models, bill of quantities, quota valuation and total charge, are compared. And these models have been commonly used in fracturing engineering valuation at home and abroad. Valuation methods of combining on bill of quantities and quota valuation are put forward which are suitable for the present stage of shale gas development. The key valuation parameters of fracturing in shale gas horizontal wells are studied. Four control measures about the technical research, the standard establishment, the design optimization and the market competition are discussed. The research has a positive significance to speed up the shale gas resources development and improve the investment efficiency.

Intertemporal Valuation of River Restoration

Willingness to pay for an environmental improvement is a function of how long it takes to deliver the improvement. To measure the effect of time on benefits, I utilize a discrete choice experiment that includes an attribute for delay until the improvement occurs and simultaneously estimate discount rates and valuation parameters. I estimate the present value of immediate and delayed Minnesota River Basin improvements using discount rates directly estimated from the econometric model. Compared to an immediate river basin cleanup, Minnesota residents lose almost half of the benefits when cleanup is delayed by 5 years.

An extension of the inverse method to probabilistic timed automata

Probabilistic timed automata can be used to model systems in which probabilistic and timing behaviour coexist. Verification of probabilistic timed automata models is generally performed with regard to a single reference valuation π 0 of the timing parameters. Given such a parameter valuation, we present a method for obtaining automatically a constraint K 0 on timing parameters for which the reachability probabilities (1) remain invariant and (2) are equal to the reachability probabilities for the reference valuation. The method relies on parametric analysis of a non-probabilistic version of the probabilistic timed automata model using the “inverse method”. The method presents the following advantages. First, since K 0 corresponds to a dense domain around π 0 on which the system behaves uniformly, it gives us a measure of robustness of the system. Second, it allows us to obtain a valuation satisfying K 0 which is as small as possible while preserving reachability probabilities, thus making the probabilistic analysis of the system easier and faster in practice. We provide examples of the application of our technique to models of randomized protocols, and introduce an extension of the method allowing the generation of a “probabilistic cartography” of a system.

Accounting Quality, Stock Price Delay, and Future Stock Returns*

In frictionless capital markets with complete information and rational investors, stock prices adjust to new information instantaneously and completely. However, a substantial body of research studies information imperfections such as asymmetric information and incomplete information. Information imperfections potentially hinder timely price discovery and are likely associated with delayed stock price adjustment to information. Our first research question therefore is whether the quality of accounting information (or “accounting quality”) is one such information imperfection that is associated with cross‐sectional variation in stock price delay. We define accounting quality as the precision with which financial reports convey information to equity investors about the firm’s expected cash flows. Poor accounting quality is likely associated with higher expected returns through uncertainty about stock valuation parameters and incomplete information. Our second research question therefore is whether the accounting quality component of price delay is associated with higher future stock returns. Consistent with our hypotheses, the results show that poor accounting quality is associated with delayed price adjustment and higher future stock returns. Thus, accounting quality plays a role in timely stock price discovery.

Differential neurobiological effects of expert advice on risky choice in adolescents and adults

We investigated behavioral and neurobiological mechanisms by which risk-averse advice, provided by an expert, affected risky decisions across three developmental groups [early adolescents (12-14 years), late adolescents (15-17 years), adults (18+ years)]. Using cumulative prospect theory, we modeled choice behavior during a risky-choice task. Results indicate that advice had a significantly greater impact on risky choice in both adolescent groups than in adults. Using functional magnetic resonance imaging, we investigated the neural correlates of this behavioral effect. Developmental effects on correlations between brain activity and valuation parameters were obtained in regions that can be classified into (i) cognitive control regions, such as dorsolateral prefrontal cortex (DLPFC) and ventrolateral PFC; (ii) social cognition regions, such as posterior temporoparietal junction; and (iii) reward-related regions, such as ventromedial PFC (vmPFC) and ventral striatum. Within these regions, differential effects of advice on neural correlates of valuation were observed across development. Specifically, advice increased the correlation strength between brain activity and parameters reflective of safe choice options in adolescent DLPFC and decreased correlation strength between activity and parameters reflective of risky choice options in adult vmPFC. Taken together, results indicate that, across development, distinct brain systems involved in cognitive control and valuation mediate the risk-reducing effect of advice during decision making under risk via specific enhancements and reductions of the correlation strength between brain activity and valuation parameters.

Sleep Deprivation Is Associated with Attenuated Parametric Valuation and Control Signals in the Midbrain during Value-Based Decision Making

Sleep deprivation (SD) has detrimental effects on cognition, but the affected psychological processes and underlying neural mechanisms are still essentially unclear. Here we combined functional magnetic resonance imaging and computational modeling to examine how SD alters neural representation of specific choice variables (subjective value and decision conflict) during reward-related decision making. Twenty-two human subjects underwent two functional neuroimaging sessions in counterbalanced order, once during rested wakefulness and once after 24 h of SD. Behaviorally, SD attenuated conflict-dependent slowing of response times, which was reflected in an attenuated conflict-induced decrease in drift rates in the drift diffusion model. Furthermore, SD increased overall choice stochasticity during risky choice. Model-based functional neuroimaging revealed attenuated parametric subjective value signals in the midbrain, parietal cortex, and ventromedial prefrontal cortex after SD. Conflict-related midbrain signals showed a similar downregulation. Findings are discussed with respect to changes in dopaminergic signaling associated with the sleep-deprived state.

Diet and lifesyle of a cohort of primary school children

The obesity is the disease of the new millennium, because it affects about 300 million people in the world, and especially it has a high prevalence in children. Obesity is a significant risk factor for cardiovascular disease, diabetes mellitus type II, hypertension, problems of adaptation and relationship with other, lower self-esteem and depression. The objective of our study is to identify children at risk of overweight/obesity in order to primary prevention. We have organized meetings with children, families and school's members where we discussed the results of our investigation about the importance of healthy diet and lifestyle. The study was carried out on 545 children (282F, 263M), age 6.-10 years, of two primary schools in Catanzaro, from 2008 to 2010. The valuation parameters were: gender, age, weight, height, blood pressure and waist circumference. To children were also administered a questionnaire about dietary habits and lifestyle. Fisher's test. We had that 62% of children was normal weight, 27% overweight, 11% obese. A particularly relevant datum is that the percentage of overweight-obese boys of 8 and 9 years old was higher (56%) than that of normal weight. We found cases of hypertension only in obese children. 98% of obese, 80% of overweight and 24% of normal weight children had a high waist circumference. We did not find differences in food quality among normal weight and overweight/obese children. Instead, we found significant differences in behavior between children: 90% of obese, 64% of overweight and 53% of normal weight children passed more than 2 hours in the afternoon watching television, playing computer and video games. 70% of normal weight, 82% of overweight and 95% of obese children practiced physical activity. Our study shows a alarming fact about the increase of the obesity in children. In particular the most important problem is that this condition could predispose to cardio-metabolic, endocrine, respiratory, musculoskeletal and psychological consequence. So it is important that everybody who lives with children, especially parents and school's members, educates children to have healthy lifestyles. These attentions may slow the worryng epidemic of obesity.

Real-Time Control with Parametric Timed Reachability Games

Timed game automata are used for solving control problems on real-time systems. A timed reachability game consists in finding a strategy for the controller for the system, modeled as a timed automaton. Such a controller says when and which of some “controllable” actions should be taken in order to reach “goal” states. We deal with a parametric version of timed game automata. We define parametric timed reachability games and introduce their subclass for which the existence of a parameter valuation, such that there is a strategy for the controller to reach the “goal” state, is decidable. We also propose a semi-algorithm to symbolically compute the corresponding set of parameter valuations.

The system of evaluation resources in a dynamic scheduling system of heterogeneous GRID systems

This paper proposed a system of classifying the characteristics of computing resources distributed heterogeneous Grid systems on various parameters. Proposed quantitative evaluation of the normalized performance indicators Grid systems that affect the allocation of tasks to resources in dynamic planning. Proposed an integral factor of degree of fitting application for a resource. The main approaches to the valuation parameters of nodes Grid systems for use in the calculation of integral index of fitting application for a resource

International Variation in Cost–Benefit Analysis of Urban Rail Projects

This paper compares urban rail cost–benefit analysis (CBA) in 11 countries and the region of Hong Kong, China, to understand differences and implications for evaluation outcomes and to highlight possible CBA improvements. All countries studied used multicriteria analysis and examined capital, operating, and maintenance costs, and some included asset residual value. Monetized benefits varied, although travel time savings (TTS) were common primary benefits. Several countries also captured TTS for trucks, pedestrians, and cyclists. Accident cost savings (ACC) were common, although unit accident costs varied. For secondary benefits, all countries and regions except Hong Kong and Singapore included environmental externalities. Air pollution and noise impact were common. The United States was unique in including option value, and Germany and the Netherlands were unique in adopting agglomeration benefits. The social discount rate (SDR), assessment period, and decision criteria varied. Most SDRs used the marginal rate of return on private-sector investment (yielding an SDR of 6% to 10%). Net present value was the common decision criterion, and 20 to 30 years was a common evaluation period. Standardized parameter valuations suggested commuting value of time as $5 in Australian dollars per hour (A$5/h) to A$15/h, with an average of A$10/h for public transport users and A$10.50/h for car users. Accident cost varied; fatal accidents cost A$0.1 to A$4.25 million and serious accidents A$60,000 to A$490,000. A case study illustrates implications of adopting approaches with varied outcomes. Only Australia, the United States, the United Kingdom, and the Netherlands had positive benefit–cost ratios (1.00 to 2.61). TTS and congestion relief were major benefits (50% to 60% and 40% to 50%, respectively, of all benefits). ACC, environmental externalities, and option value benefits were not significant. Agglomeration benefits substantially increased project benefits.

Automotive supply chain logistics: container demand planning using Monte Carlo simulation

Car manufacturers are continuously examining ways to reduce logistics costs combined with higher performance in inbound delivery. The increasingly important role of packaging in the efficient and effective operation of multi-site car manufacturing needs to develop a planning model of container demand that better fulfils the prerequisites posed by dynamic supply chains in automotive industry. The paper analyses critical issues in container demand planning of the product development phase of a new car model before start of production. A quantitative methodology with Monte Carlo simulations is used to incorporate the uncertainty of valuation parameters. The research is based on real case study data of European auto industry in a multi-tier inbound transport network. The proposed methodology contributes to the current demand for computational support for logistics planning. In addition, it may reveal potential weakness in standard approaches for container demand planning.

Valuation and Conservatism

Residual income models provide an important theoretical link between equity valuation and financial statement variables. While various researchers have developed models of how accounting policy impacts on the structure of these models, empirical support for these models is at best weak and frequently contradictory. In this paper, we develop a general model, which identifies the dependency between valuation parameters in residual income models and the associated structure of earnings information dynamics and accounting conservatism. We test these models by relating the parameters of residual income models to two measures of conservatism, the conventional measure of price-to-book ratio and the recent measure of a C-Score index developed by Khan and Watts (2009) and find that the empirical results accord well with our theoretical predictions.

Methods of Spatial Database Construction for Diggings’Eco-compensation Valuation about Land Resource Destruction

This paper revolves around the internalization of the behavior of protecting or destructing the eco-environmental,which is the core problem of the mineral resources eco-compensation.Firstly,it illustrates the problem of parameters valuation at the current ecological compensation system.And then it analyses the necessity of database construction of valuation parameters about diggings' land destruction eco-compensation based on spatial information technology.Finally,technical processes,methods and key technologies of the database construction are reported by practice research.Conclusion of the study shows the solution to the construction of valuation parameters about diggings' land destruction eco-compensation based on spatial information technology is feasible and convenient in practice.The implementation of the program will promote the scientific and reasonable pricing,and will play significant role of information supporting for fine management of the diggings'eco-environmental rehabilitation.

An empirical analysis of alternative recovery risk models and implied recovery rates

This article studies the role of recovery on defaultable debt prices in alternative recovery risk models. The empirical results suggest two central findings. First, the recovery concept that specifies recovery as a fraction of the discounted par value has broader empirical support. Second, parametric debt valuation models can provide a useful assessment of recovery rates embedded in bond prices.