Metric of Carbon Equity: Carbon Gini Index Based on Historical Cumulative Emission per Capita


 Marylou Bond
 1 years ago
 Views:
Transcription
1 ADVANCES IN CLIMATE CHANGE RESEARCH 2(3): , DOI: /SP.J POLICY FORUM Metric of Carbon Equity: Carbon Gini Index Based on Historical Cuulative Eission per Capita Fei Teng, Jiankun He, Xunzhang Pan, Chi Zhang Institute of Energy, Environent and Econoy, Tsinghua University, Beijing , China Abstract This paper uses Lorenz curve and Gini index with adjustent to per capita historical cuulative eission to construct carbon Gini index to easure inequality in cliate change area. The analysis shows that 70% of carbon space in the atosphere has been used for unequal distribution, which is alost the sae as that of incoes in a country with the biggest gap between the rich and the poor in the world. The carbon equity should be an urgency and priority in the cliate agenda. Carbon Gini index established in this paper can be used to easure inequality in the distribution of carbon space and provide a quantified indicator for easureent of carbon equity aong different proposals. Keywords: cliate change; carbon equity; longter itigation goal; cuulative eission per capita; carbon Gini index Citation: Teng, F., J. He, X. Pan, et al., 2011: Metric of carbon equity: Carbon Gini index based on historical cuulative eission per capita. Adv. Cli. Change Res., 2(3), doi: /SP.J Introduction One of the key issues of addressing cliate change is to enact a reasonable global long ter eission reduction target and ipleent the equal allocation of CO 2 eission space. The quantitative global long ter target will certainly liit the global CO 2 eission space. The unequal allocation of the liited CO 2 eission space would largely restrict the future eission space of developing counties. The earth s atosphere is huan s public natural resource, and reasonable eission space is indispensable for huan developent. Therefore, we should allocate and use the eission space under the principle of global carbon equality. This is the cornerstone of global cooperation in addressing cliate change. Chinese scholars [Chen et al., 2005; Ding et al., 2009; He et al., 2007; 2009] developed the cuulative CO 2 eission per capita index and revealed the different historical responsibilities for developed and developing countries. Moreover, they proposed the guideline based on the principle of cuulative eission per capita convergence. Under this principle, Chinese scholars proposed the carbon budget and carbon eission account ethods [Pan, 2008; PTDRCSCC, 2009] as the eission space allocation syste design. Although cuulative eission per capita reveals the different historical responsibilities for different countries, it cannot provide a coprehensive index which covers every country s cuulative eission per capita, nor can it provide a general easureent of eission space allocation equality. Therefore, any studies used incoe equality easureent ethod, and easured eission equality with different incoe equality index. Hedenus and Azar [2005] easured eission inequality across countries by the wellknown Atkinson Received: 26 Deceber 2010 Corresponding author: Fei Teng, 1
2 Fei Teng et al. / Metric of Carbon Equity: Carbon Gini Index Based on Historical Cuulative index. Duro and Padilla [2006] applied the decoposable Theil index of inequality to eissions and showed convincingly that global inequality in per capita eissions was largely due to inequalities in per capita incoe across countries. Heil and Wodon [1997; 2000] used the Gini index to easure the inequality of eission across countries. Groot [2010] established the carbon Lorenz curves and carbon Gini coefficient based on the annual per capita eission. The aforeentioned literatures easured the eission space equality with incoe equality easureent indices, but they were all based on the annual per capita eission. The contribution of this paper is to reestablish the carbon Lorenz curves and Gini indices based on the historical cuulative eission per capita which has essential difference with the annual per capita eission easureent. First, the life tie of greenhouse gas (GHG) in the atosphere is ore than a century; the cuulative eission can show a country s cliate change historical responsibility ore clearly than annual eission. Consequently the historical cuulative eission per capita can represent the carbon equality better. Second, eissions of GHG within a certain period of tie deterine the teperature rise. The equality is to be a easureent of the overall eission allocation in the certain period, rather than that of annual eission allocation. 2 Carbon equality and easureent The essence of carbon equality is to easure the allocation difference of eission space. Although allocation difference is a new topic in cliate change studies, it has been thoroughly investigated in the incoe allocation equality researches [Wan, 2009; Xu, 2008]. The coonly used resident incoe allocation difference indices are variation coefficient, Gini coefficient, Generalized Entropy index, and Atkinson index. The Gini coefficient is the ost widely used index. Such indices are usually used to statically apping the wealth allocation and social stability of a certain country or district. The Lorenz curve was initially proposed by Lorenz in It indicates the relations between population shares and incoe shares. Cuulative incoe shares are on the vertical axis, and cuulative population shares are on the horizontal axis. The curve reflects the relations between incoe shares and population shares. If the population shares are not equal to the incoe shares, inequality exists. If the allocation is perfectly equal, then Lorenz curve is the straight line with the slope of 45. That is the perfect equal allocation curve (Fig. 1). Based on the Lorenz curve, Gini proposed the equality level easureent index which is called Gini index. Define the area between the actual allocation curve and perfect equal allocation curve as X, the area below the actual allocation curve as Y. Then the Gini index equals to X/(X +Y ). The econoical eaning of Gini index is that the inequality level of the incoe allocation equals to the incoe used for unequal allocation aong total residential incoe. Gini index is a real nuber between 0 and 1. The Gini index for a perfect equal allocation is 0, while the Gini index for a totally unequal allocation is 1. Gini index is a general index, which reveals a general level of the allocation equality. According to the United Nation s definition, Gini index <0.2 represents perfect incoe equality, relative equality, adequate equality, big incoe gap, and above 0.5 represents severe incoe gap. Therefore, the warning level of Gini index is 0.4. This paper uses the above division of Gini index to investigate the carbon inequality issue. How to use Gini index to provide a ore eaningful division is still an issue for further research, since this involves the welfare eanings of the carbon space allocation. Figure 1 Lorenz curve and Gini index
3 136 ADVANCES IN CLIMATE CHANGE RESEARCH Lorenz curve and Gini index reflect the relations between incoe shares and population shares. Whenever the incoe shares and population shares are not equal to each other, inequality exists. The convergence of cuulative per capita proposed by Chinese scholars reflects this principle for equality. This idea applied with the Lorenz curve and Gini index eans that once everyone has the sae cuulative eission space there will be no carbon inequality. Developed countries had eitted large aount of GHG in their industrialization process. The GHG cuulated in the atosphere, not only enhanced the greenhouse effect, but also led to global waring and any other cliate changes. Moreover, GHG eitted by developed countries occupied the eission space and ade developing countries face a ore restricted eission liit. Therefore, Gini index can also easure equality situation of different eission allocation plans. In this application of the Lorenz curve and Gini index, horizontal axis is changed fro households to population, while vertical axis is changed fro incoe to eissions. This paper calculates the carbon equality with historical cuulative eission statistics. Based on such statistics we will establish the carbon Lorenz curve to reflect different countries unequal eission allocation levels. According to carbon Lorenz curve, we can calculate the carbon Gini index to quantitatively easure the eission inequality of different countries. 3 Carbon Lorenz curve and carbon Gini index calculation When investigating different countries historical cuulative eission situation, this paper focuses on the CO 2 eission fro energy activities. Bauert et al. [2005] suggested that CO 2 is the ain GHG, CO 2 eission fro energy activities contribute ore than 2/3 of the world GHG total. This paper calculates the historical cuulative eissions by siply adding the eissions, which is a widely used ethod. In order to understand how the historical cuulative eission per capita Lorenz curve is established, first we define the following variables for country n: G n i is the CO 2 eission in i th year of country n, Pi n is the population of country n in the i th year, p n i = P i n Pi is the population share of country n in the i th year. Considering the period between i th year and j th year, C n ij = j k=i G n k is the historical cuulative CO 2 eission fro i th year to j th year for country n, c n ij = Cn ij Cij is its share of historical cuulative CO 2 eission fro i th year to j th year, and C n ij is its historical cuulative CO 2 eission per capita fro i th year to j th year. C n ij is the ost iportant eission equality easureent index proposed by the authors of this paper. It will also be the basis to sort the data in establishing the Lorenz curve. There are two ways to calculate C n ij. One is to add up the annual eission per capita. Another is to calculate cuulative CO 2 eission Cij n, and then divide Cij n by P j n. Although two ethods yield different values, the results are essentially the sae. Moreover, this paper will use population share. It is not suitable to calculate cuulative populations. Accordingly, we adopt the latter ethod. C n ij = Cn ij P n j (1) Table 1 provides historical cuulative CO 2 eission, population, and the historical cuulative eission per capita for ajor countries between 1850 and All the data were fro Cliate Analysis Indicators Tool (CAIT), Version 7.0 (http://cait.wri.org ). Fro Table 1 we can see that the USA is the world s largest CO 2 eission country since the industry revolution, its historical cuulative eission is 30% of the world total. The historical cuulative eission per capita for developed countries such as the USA and UK was ore than tens of ties of those for developing counties such as China and India. The historical cuulative eission per capita can reflect the inequality of carbon space allocation. Coparing with developed countries, developing countries industrialization cae late and is on a lower level. Developing countries are allocated with less resource in the constrained carbon space, but they have larger populations in general. As a result, residents in developing countries cannot enjoy equal rights in GHG eission.
4 Fei Teng et al. / Metric of Carbon Equity: Carbon Gini Index Based on Historical Cuulative Table 1 Historical cuulative eission of ajor countries fro 1850 to 2006 (data source: CAIT V7.0) Country Historical cuulative Historical cuulative Population in 2006 Population Historical cuulative Annex I CO 2 eission (Mt) CO 2 share (%) (10 3 ) share (%) CO 2 eission per (Y/N) capita (t per capita) UK 68, , ,133.0 Y USA 333, , ,125.6 Y Gerany 80, , Y Russian Fed 93, , Y Australia 12, , Y France 32, , Y Japan 44, , Y South Africa 12, , N Mexico 11, , N China 99, ,304, N Brazil 9, , N India 27, ,094, N When we focus on the CO 2 eission fro i th year to j th year for each country, in order to construct the Lorenz curve, we need to sort the countries in ascending order by their historical cuulative eissions per capita C n ij and assign a sequence nuber s. After sorting the countries in ascending order, set cuulative population of j th year on the horizontal axis, and set cuulative historical cuulative eission per capita fro i th year to j th year on the vertical axis. It should be noted that cuulative in this context is referring to suing up of eissions by those countries whose sequence nuber is less than s. Therefore, the coordinates (p s, c s ) refer to p s = p t j, c s = c t ij. t s t s Connecting the different countries points in the coordinate syste with a sooth curve, we established the Lorenz curve based on the historical cuulative eission per capita fro i th year to j th year. Figure 2 shows the carbon Lorenz curve started fro 1850 and lists the positions of different countries. As the carbon Lorenz curve is sorted by the historical cuulative eission per capita, the country s position is closer to the upright, the higher its historical cuulative eission per capita is, the bigger historical responsibility that country should take in cliate change issue. Moreover, fro Figure 2 we can learn that developing countries have 82% population of the world, but they contributed erely 25% cuulative eission of world s total. On the other hand, developed countries have 18% population of the world, but their cuulative eissions account for 75% of the world s total. Figure 2 year Carbon Lorenz curve using 1850 as starting Based on the carbon Lorenz curve, we can calculate the carbon Gini index. Siilar to the incoe Gini index calculation, we use two ethods. One is the area ethod; the other is ean variance ethod. The area ethod is derived straightly fro the definition of Gini index. As entioned before, since (X + Y )=0.5, we have G = X X + Y = 0.5 Y 0.5 = 1 2Y (2) The ain difference between various area calculation ethods is in the calculation of area Y. One way is to select a suitable fitting Lorenz curve, and then use integration to calculate the area. Another way is to divide Y into several trapezoids. The su of the trapezoidal area is a close approxiation to the area Y (Fig. 3).
5 138 ADVANCES IN CLIMATE CHANGE RESEARCH Figure 3 ethod Carbon Gini index calculation using trapezoid We assued that there are S countries and we can divide the total area into S trapezoids. Y = S A s = s=1 S s=1 = 1 2 (c s 1 + c s )(p s p s 1 ) 2 S (c s 1 + c s )p s j (3) s=1 Apparently, when S is big enough, the result above is alost the sae as real value. Another coonly used ethod is ean difference ethod. We define the absolute ean variance as = E C a ij C b ij, relative ean variance as /C ij, where a and b is the sequence nuber of two different countries, and C ij is the historical cuulative world eission per capita. Gini index is the half of the relative ean variance. Therefore, G = E Ca ij C b p ij a j pb j Ca ij C b ij a b = 2C ij 2 C (4) ij p j and carbon Gini index to quantitatively analyze the ipact of the starting year on historical responsibility. Figure 4 shows the carbon Lorenz curves with different starting years. Table 2 shows carbon Gini index results with different starting years in various calculation ethods. We can see that different calculation ethods do not affect the carbon Gini index value uch, but the different starting years have big influence on the carbon Gini index value. The latter the starting year, the lower the carbon Gini index is. That eans as the starting years becoe bigger, the carbon space allocation inequality would be concealed. On the global level, carbon Gini index does not change uch when coparing the 1850 starting year calculation with the 1900 starting year calculation. But the 1950 starting year calculation and 1990 starting year calculation largely underestiate the carbon inequality. The 1950 calculation results in a 4% underestiation of the carbon space allocation inequality, while the 1990 calculation accounts for a 14% underestiation of the carbon space allocation inequality. Fro 1850 to 2006, 70% of the cuulative eission space has been allocated unequally, but when starting fro 1990 this figure decreases to 60%. No atter what the starting year is, the inequality of carbon space allocation needs to be concerned. According to the World Bank statistics, three countries incoe Gini indices are above 0.6 in the 182 countries in the world. The biggest incoe gap is in Naibia which has the incoe Gini index of The Gini index of carbon space allocation is 0.70 if the starting year is The covariance Eq. derived fro Eq. (4). (5) in the following can be 1 G = C [2cov(C a ij, p ij p a ) cov(c a ij, p a j )] (5) j One of the ost iportant things in carbon equality and carbon budget is to set the starting year. Many researches confired that the earlier the starting year was, the ore historical responsibility is reflected. But they did not provide a quantitative analysis of the various starting years ipacts on the historical responsibility. In this paper we try to use the carbon Lorenz Figure 4 years Carbon Lorenz curve by using different starting
6 Fei Teng et al. / Metric of Carbon Equity: Carbon Gini Index Based on Historical Cuulative Table 2 Carbon Gini index based on the historical cuulative eission per capita Calculation ethod Fitting ethod Trapezoid area ethod Gini ean difference ethod Covariance ethod Even if 1990 is used as the starting year, the carbon Gini index can still reach 0.60 which is on the sae level as countries with the largest incoe gaps. 4 Conclusions Econoics and sociology are focused ore on the inequality in ters of econoical paraeters, especially the incoe inequality, since incoe is a key factor which deterines the welfare. In the field of cliate change, the unequal allocation of carbon eission space is an issue of great iportance, but the study of the easure of this inequality is rather liited in both theory and application. The quantification of the carbon allocation inequality has great significance. Through the quantification, we can investigate an inequality issue in cliate change fro a different angle or underlying layer. For exaple, easuring the inequality level and trends will be beneficial to look for the root cause of the inequality. The incoe allocation related literatures have provided any eaningful indices and tools for inequality research. With soe adjustent, such indices and tools can be applied to the eission space allocation related carbon inequality issue. In this paper, based on the historical cuulative eission per capita, the authors established the carbon Lorenz curve and carbon Gini index to quantitatively analyze the eission space allocation inequality issue. Several iplications of the historical cuulative eission per capita based on carbon Gini index proposed by the authors in this paper are the following: 1) historical cuulative eission per capita based carbon Gini index reflects the severe inequality of current eission allocation in a ore general way, it helps policy akers and the public to know the eission allocation inequality level; 2) carbon Gini index can not only be used to analyze the current situation of the eission space allocation inequality, but also can be eployed to copare the eission space allocation inequality of different future allocation plans, thus it can reveal the equality raification of different future eission allocation plans and provide guidelines in establishing future allocation plans; and 3) by using the carbon Gini index and carbon Lorenz curve, we can further understand the deepseated factors in carbon inequality by factor decoposition. The result of the carbon Gini index based on the historical cuulative eission per capita shows that current eission space allocation is severely unequal. The inequality situation is on the sae level as a country with the biggest incoe gap. In the calculation period, carbon Gini index reaches 0.70 which is far beyond the warning level in the case of incoe inequality. This result indicates that 70% of the world total eission space is allocated unequally and such space has been excessively occupied by developed countries. The carbon Gini index has confired that developed countries had excessively occupied the eission space. According to the principle of UNFCCC, developed countries should take the lead to reduce their eissions to redress the unequal situation. The selection of starting year has great influence on the carbon Gini index. The inequality of carbon space allocation has been concealed as the starting year becoes ore recent. However, even year 1990 is used as the starting year, the carbon Gini index can still reach 0.60 which is far beyond the warning line. Carbon Gini index can be used as a static index to easure the inequality of eission allocation. It also provides a quantitative index for international carbon equality discussion. At present, any institutes and scholars have proposed various plans to allocate future CO 2 eission space. It is difficult to copare different plans. The carbon Gini index presented in this paper can reveal the equality iplication of different allocation plans, and copare and contrast different
7 140 ADVANCES IN CLIMATE CHANGE RESEARCH plans in the light of the equality easureent. Acknowledgeents The authors would like to thank National Basic Research Prograe (No. 2010CB955303) for financial support of this research. References Bauert, K. A., T. Herzog, and J. Pershing, 2005: Navigating the nubers: Greenhouse gas data and international cliate policy. World Resources Institute, Chen, W., Z. Wu., and J. He, 2005: Twoconvergence approach for future global carbon perit allocation. Journal of Tsinghua University (Science and Technology) (in Chinese), 45(6), Ding, Z., X. Duan., Q. Ge, et al., 2009: Control of atospheric CO 2 concentration by 2050: An allocation on the eission rights of different countries. Science in China Series D: Earch Scineces, 39(8), Duro, J. A., and E. Padilla, 2006: International inequalities in per capita CO 2 eissions: A decoposition ethodology by Kaya factors. Energy Econoics, 28, Groot, L., 2010: Carbon Lorenz curve. Resource and Energy Econoics, 32, He, J., W. Chen., F. Teng, et al., 2009: Longter cliate change itigation target and carbon perit allocation. Adv. Cli. Change Res., 5, S78 S85. He, J., B. Liu., Y. Chen, et al., 2007: Socioeconoic assessent of cliate change itigation. in: China s National Assessent Report on Cliate Change (in Chinese). Editorial Coittee of China s National Assessent Report on Cliate Change Ed., Science Press, Hedenus, F., and C. Azar, 2005: Estiates of trends in global incoe and resource inequalities. Ecological Econoics, 55, Heil, M. T., and Q. T. Wodon, 1997: Inequality in CO 2 eissions between poor and rich countries. Journal of Environent and Developent, 6, Heil, M. T., and Q. T. Wodon, 2000: Future inequality in CO 2 eissions and the ipact of abateent proposals. Environental and Resource Econoics, 17, Pan, J., 2008: Carbon budget for basic needs satisfaction: Iplications for international equity and sustainability. World Econoics and Politics (in Chinese), 1, PTDRCSCC (Project Tea of Developent Research Center of the State Council of China), 2009: Greenhouse gas eissions reduction: A theoretical fraework and global solution. Econoic Research Journal (in Chinese), 3(3), Wan, G., 2009: Inequality easureent and decoposition: A survey. China Econoic Quarterly (in Chinese), 8(1): Xu, K., 2008: How has the literature on Gini s index evolved in the past 80 years. China Econoic Quaterly (in Chinese), 2(4),
PERFORMANCE METRICS FOR THE IT SERVICES PORTFOLIO
Bulletin of the Transilvania University of Braşov Series I: Engineering Sciences Vol. 4 (53) No.  0 PERFORMANCE METRICS FOR THE IT SERVICES PORTFOLIO V. CAZACU I. SZÉKELY F. SANDU 3 T. BĂLAN Abstract:
More informationCalculating the Return on Investment (ROI) for DMSMS Management. The Problem with Cost Avoidance
Calculating the Return on nvestent () for DMSMS Manageent Peter Sandborn CALCE, Departent of Mechanical Engineering (31) 453167 sandborn@calce.ud.edu www.ene.ud.edu/escml/obsolescence.ht October 28, 21
More informationPhysics 211: Lab Oscillations. Simple Harmonic Motion.
Physics 11: Lab Oscillations. Siple Haronic Motion. Reading Assignent: Chapter 15 Introduction: As we learned in class, physical systes will undergo an oscillatory otion, when displaced fro a stable equilibriu.
More informationCRM FACTORS ASSESSMENT USING ANALYTIC HIERARCHY PROCESS
641 CRM FACTORS ASSESSMENT USING ANALYTIC HIERARCHY PROCESS Marketa Zajarosova 1* *Ph.D. VSB  Technical University of Ostrava, THE CZECH REPUBLIC arketa.zajarosova@vsb.cz Abstract Custoer relationship
More informationStudy on the development of statistical data on the European security technological and industrial base
Study on the developent of statistical data on the European security technological and industrial base Security Sector Survey Analysis: Poland Client: European Coission DG Migration and Hoe Affairs Brussels,
More informationUse of extrapolation to forecast the working capital in the mechanical engineering companies
ECONTECHMOD. AN INTERNATIONAL QUARTERLY JOURNAL 2014. Vol. 1. No. 1. 23 28 Use of extrapolation to forecast the working capital in the echanical engineering copanies A. Cherep, Y. Shvets Departent of finance
More informationConstruction Economics & Finance. Module 3 Lecture1
Depreciation: Construction Econoics & Finance Module 3 Lecture It represents the reduction in arket value of an asset due to age, wear and tear and obsolescence. The physical deterioration of the asset
More informationModeling Cooperative Gene Regulation Using Fast Orthogonal Search
8 The Open Bioinforatics Journal, 28, 2, 889 Open Access odeling Cooperative Gene Regulation Using Fast Orthogonal Search Ian inz* and ichael J. Korenberg* Departent of Electrical and Coputer Engineering,
More informationFuzzy Sets in HR Management
Acta Polytechnica Hungarica Vol. 8, No. 3, 2011 Fuzzy Sets in HR Manageent Blanka Zeková AXIOM SW, s.r.o., 760 01 Zlín, Czech Republic blanka.zekova@sezna.cz Jana Talašová Faculty of Science, Palacký Univerzity,
More informationEvaluating Inventory Management Performance: a Preliminary DeskSimulation Study Based on IOC Model
Evaluating Inventory Manageent Perforance: a Preliinary DeskSiulation Study Based on IOC Model Flora Bernardel, Roberto Panizzolo, and Davide Martinazzo Abstract The focus of this study is on preliinary
More informationCOMBINING CRASH RECORDER AND PAIRED COMPARISON TECHNIQUE: INJURY RISK FUNCTIONS IN FRONTAL AND REAR IMPACTS WITH SPECIAL REFERENCE TO NECK INJURIES
COMBINING CRASH RECORDER AND AIRED COMARISON TECHNIQUE: INJURY RISK FUNCTIONS IN FRONTAL AND REAR IMACTS WITH SECIAL REFERENCE TO NECK INJURIES Anders Kullgren, Maria Krafft Folksa Research, 66 Stockhol,
More informationResearch Article Performance Evaluation of Human Resource Outsourcing in Food Processing Enterprises
Advance Journal of Food Science and Technology 9(2): 964969, 205 ISSN: 20424868; eissn: 20424876 205 Maxwell Scientific Publication Corp. Subitted: August 0, 205 Accepted: Septeber 3, 205 Published:
More informationStudy on the development of statistical data on the European security technological and industrial base
Study on the developent of statistical data on the European security technological and industrial base Security Sector Survey Analysis: France Client: European Coission DG Migration and Hoe Affairs Brussels,
More informationand virtually all 4yearolds are now enrolled in education.
MEXICO Attainent rates are steadily increasing Mexico has the highest average annual rate of growth of firsttie upper secondary graduation rates aong OECD countries for which inforation is available.
More informationESTIMATING LIQUIDITY PREMIA IN THE SPANISH GOVERNMENT SECURITIES MARKET
ESTIMATING LIQUIDITY PREMIA IN THE SPANISH GOVERNMENT SECURITIES MARKET Francisco Alonso, Roberto Blanco, Ana del Río and Alicia Sanchis Banco de España Banco de España Servicio de Estudios Docuento de
More informationThe Research of Measuring Approach and Energy Efficiency for Hadoop Periodic Jobs
Send Orders for Reprints to reprints@benthascience.ae 206 The Open Fuels & Energy Science Journal, 2015, 8, 206210 Open Access The Research of Measuring Approach and Energy Efficiency for Hadoop Periodic
More informationManaging Complex Network Operation with Predictive Analytics
Managing Coplex Network Operation with Predictive Analytics Zhenyu Huang, Pak Chung Wong, Patrick Mackey, Yousu Chen, Jian Ma, Kevin Schneider, and Frank L. Greitzer Pacific Northwest National Laboratory
More informationInsurance Spirals and the Lloyd s Market
Insurance Spirals and the Lloyd s Market Andrew Bain University of Glasgow Abstract This paper presents a odel of reinsurance arket spirals, and applies it to the situation that existed in the Lloyd s
More informationQuality evaluation of the modelbased forecasts of implied volatility index
Quality evaluation of the odelbased forecasts of iplied volatility index Katarzyna Łęczycka 1 Abstract Influence of volatility on financial arket forecasts is very high. It appears as a specific factor
More informationEnrolment into Higher Education and Changes in Repayment Obligations of Student Aid Microeconometric Evidence for Germany
Enrolent into Higher Education and Changes in Repayent Obligations of Student Aid Microeconoetric Evidence for Gerany Hans J. Baugartner *) Viktor Steiner **) *) DIW Berlin **) Free University of Berlin,
More informationAnalyzing Spatiotemporal Characteristics of Education Network Traffic with Flexible Multiscale Entropy
Vol. 9, No. 5 (2016), pp.303312 http://dx.doi.org/10.14257/ijgdc.2016.9.5.26 Analyzing Spatioteporal Characteristics of Education Network Traffic with Flexible Multiscale Entropy Chen Yang, Renjie Zhou
More informationThe Velocities of Gas Molecules
he Velocities of Gas Molecules by Flick Colean Departent of Cheistry Wellesley College Wellesley MA 8 Copyright Flick Colean 996 All rights reserved You are welcoe to use this docuent in your own classes
More informationAn Improved Decisionmaking Model of Human Resource Outsourcing Based on Internet Collaboration
International Journal of Hybrid Inforation Technology, pp. 339350 http://dx.doi.org/10.14257/hit.2016.9.4.28 An Iproved Decisionaking Model of Huan Resource Outsourcing Based on Internet Collaboration
More informationSoftware Quality Characteristics Tested For Mobile Application Development
Thesis no: MGSE201502 Software Quality Characteristics Tested For Mobile Application Developent Literature Review and Epirical Survey WALEED ANWAR Faculty of Coputing Blekinge Institute of Technology
More informationADVANTAGES AND DISADVANTAGES OF USING FOREIGN MANAGERS IN IRAN OIL INTERNATIONAL PROJECTS
Volue: 02 Issue: 05 Aug205 www.irjet.net pissn: 23950072 ADVANTAGES AND DISADVANTAGES OF USING FOREIGN MANAGERS IN IRAN OIL INTERNATIONAL PROJECTS Mahoud Gholipoor, Safoora Rashidinejad(Corresponding
More informationStandards and Protocols for the Collection and Dissemination of Graduating Student Initial Career Outcomes Information For Undergraduates
National Association of Colleges and Eployers Standards and Protocols for the Collection and Disseination of Graduating Student Initial Career Outcoes Inforation For Undergraduates Developed by the NACE
More informationProject Evaluation Roadmap. Capital Budgeting Process. Capital Expenditure. Major Cash Flow Components. Cash Flows... COMM2501 Financial Management
COMM501 Financial Manageent Project Evaluation 1 (Capital Budgeting) Project Evaluation Roadap COMM501 Financial Manageent Week 7 Week 7 Project dependencies Net present value ethod Relevant cash flows
More informationASIC Design Project Management Supported by Multi Agent Simulation
ASIC Design Project Manageent Supported by Multi Agent Siulation Jana Blaschke, Christian Sebeke, Wolfgang Rosenstiel Abstract The coplexity of Application Specific Integrated Circuits (ASICs) is continuously
More informationA WISER Guide. Financial Steps for Caregivers: What You Need to Know About Money and Retirement
WISER WOMEN S INSTITUTE FOR A SECURE RETIREMENT A WISER Guide Financial Steps for Caregivers: What You Need to Know About Money and Retireent This booklet was prepared under a grant fro the Adinistration
More informationCLOSEDLOOP SUPPLY CHAIN NETWORK OPTIMIZATION FOR HONG KONG CARTRIDGE RECYCLING INDUSTRY
CLOSEDLOOP SUPPLY CHAIN NETWORK OPTIMIZATION FOR HONG KONG CARTRIDGE RECYCLING INDUSTRY Y. T. Chen Departent of Industrial and Systes Engineering Hong Kong Polytechnic University, Hong Kong yongtong.chen@connect.polyu.hk
More informationSTATE OF GEORGIA ENVIRONMENTAL PLANNING CRITERIA DATABASE
STATE F GERGIA ENVIRNMENTAL PLANNING RITERIA DATABASE Jaes Frederick AUTHRS: ffice of oordinated Planning, Georgia Departent of ounity Affairs, 1 Peachtree St. N.W., Atlanta, GA 333. REFERENE: Proceedings
More informationarxiv:0805.1434v1 [math.pr] 9 May 2008
Degreedistribution stability of scalefree networs Zhenting Hou, Xiangxing Kong, Dinghua Shi,2, and Guanrong Chen 3 School of Matheatics, Central South University, Changsha 40083, China 2 Departent of
More informationDesign of Model Reference Self Tuning Mechanism for PID like Fuzzy Controller
Research Article International Journal of Current Engineering and Technology EISSN 77 46, PISSN 347 56 4 INPRESSCO, All Rights Reserved Available at http://inpressco.co/category/ijcet Design of Model Reference
More informationSAMPLING METHODS LEARNING OBJECTIVES
6 SAMPLING METHODS 6 Using Statistics 66 2 Nonprobability Sapling and Bias 66 Stratified Rando Sapling 62 6 4 Cluster Sapling 64 6 5 Systeatic Sapling 69 6 6 Nonresponse 62 6 7 Suary and Review of
More informationIs PayasYouDrive Insurance a Better Way to Reduce Gasoline than Gasoline Taxes?
Is PayasYouDrive Insurance a Better Way to Reduce Gasoline than Gasoline Taxes? By Ian W.H. Parry Despite concerns about US dependence on a volatile world oil arket, greenhouse gases fro fuel cobustion,
More informationResearch on Risk Assessment of PFI Projects Based on Gridfuzzy Borda Number
Researc on Risk Assessent of PFI Projects Based on Gridfuzzy Borda Nuber LI Hailing 1, SHI Bensan 2 1. Scool of Arcitecture and Civil Engineering, Xiua University, Cina, 610039 2. Scool of Econoics and
More information 265  Part C. Property and Casualty Insurance Companies
Part C. Property and Casualty Insurance Copanies This Part discusses proposals to curtail favorable tax rules for property and casualty ("P&C") insurance copanies. The syste of reserves for unpaid losses
More informationAn Innovate Dynamic Load Balancing Algorithm Based on Task
An Innovate Dynaic Load Balancing Algorith Based on Task Classification Hongbin Wang,,a, Zhiyi Fang, b, Guannan Qu,*,c, Xiaodan Ren,d College of Coputer Science and Technology, Jilin University, Changchun
More informationModelling of Thermal Behavior NDoped Silicon Resistor
Journal of Sensor Technology, 0,, 337 http://dx.doi.org/0.436/jst.0.309 Published Online Septeber 0 (http://www.scirp.org/journal/jst) Modelling of Theral Behavior NDoped Silicon Resistor Fouad Kerrour,
More informationOnline Appendix I: A Model of Household Bargaining with Violence. In this appendix I develop a simple model of household bargaining that
Online Appendix I: A Model of Household Bargaining ith Violence In this appendix I develop a siple odel of household bargaining that incorporates violence and shos under hat assuptions an increase in oen
More informationSalty Waters. Instructions for the activity 3. Results Worksheet 5. Class Results Sheet 7. Teacher Notes 8. Sample results. 12
1 Salty Waters Alost all of the water on Earth is in the for of a solution containing dissolved salts. In this activity students are invited to easure the salinity of a saple of salt water. While carrying
More information( C) CLASS 10. TEMPERATURE AND ATOMS
CLASS 10. EMPERAURE AND AOMS 10.1. INRODUCION Boyle s understanding of the pressurevolue relationship for gases occurred in the late 1600 s. he relationships between volue and teperature, and between
More informationAn Approach to Combating Freeriding in PeertoPeer Networks
An Approach to Cobating Freeriding in PeertoPeer Networks Victor Ponce, Jie Wu, and Xiuqi Li Departent of Coputer Science and Engineering Florida Atlantic University Boca Raton, FL 33431 April 7, 2008
More informationA magnetic Rotor to convert vacuumenergy into mechanical energy
A agnetic Rotor to convert vacuuenergy into echanical energy Claus W. Turtur, University of Applied Sciences BraunschweigWolfenbüttel Abstract Wolfenbüttel, Mai 21 2008 In previous work it was deonstrated,
More informationGlobal Experiment for the International Year of Chemistry. Salty Waters
Global Experient for the International Year of Cheistry Salty Waters This docuent contains a description for the Salty Waters Activity that is part of the Global Experient being conducted during the International
More informationEvaluating the Effectiveness of Task Overlapping as a Risk Response Strategy in Engineering Projects
Evaluating the Effectiveness of Task Overlapping as a Risk Response Strategy in Engineering Projects Lucas Grèze Robert Pellerin Nathalie Perrier Patrice Leclaire February 2011 CIRRELT201111 Bureaux
More informationTHE INFORMATION IN THE TERM STRUCTURE OF GERMAN INTEREST RATES
THE INFORMATION IN THE TERM STRUCTURE OF GERMAN INTEREST RATES Gianna Boero CRENoS, University of Cagliari, and University of Warwick Eail: gianna.boero@warwick.ac.uk and Costanza Torricelli University
More informationCalculation Method for evaluating Solar Assisted Heat Pump Systems in SAP 2009. 15 July 2013
Calculation Method for evaluating Solar Assisted Heat Pup Systes in SAP 2009 15 July 2013 Page 1 of 17 1 Introduction This docuent describes how Solar Assisted Heat Pup Systes are recognised in the National
More informationThe Stock Market and the Financing of Corporate Growth in Africa: The Case of Ghana
WP/06/201 The Stock Market and the Financing of Corporate Growth in Africa: The Case of Ghana Charles Ao Yartey 2006 International Monetary Fund WP/06/201 IMF Working Paper Research Departent The Stock
More informationPlane Trusses. Section 7: Flexibility Method  Trusses. A plane truss is defined as a twodimensional
lane Trusses A plane truss is defined as a twodiensional fraework of straight prisatic ebers connected at their ends by frictionless hinged joints, and subjected to loads and reactions that act only at
More informationADJUSTING FOR QUALITY CHANGE
ADJUSTING FOR QUALITY CHANGE 7 Introduction 7.1 The easureent of changes in the level of consuer prices is coplicated by the appearance and disappearance of new and old goods and services, as well as changes
More informationMinimum Wage Violation in South Africa
Miniu Wage Violation in South Africa Haroon Bhorat Developent Policy Research Unit Robert Leslie Social Science Building, 4th Floor, Upper Capus, Rondebosch. University of Cape Town Cape Town, South Africa
More informationFixedIncome Securities and Interest Rates
Chapter 2 FixedIncoe Securities and Interest Rates We now begin a systeatic study of fixedincoe securities and interest rates. The literal definition of a fixedincoe security is a financial instruent
More informationExample: Suppose that we deposit $1000 in a bank account offering 3% interest, compounded monthly. How will our money grow?
Finance 111 Finance We have to work with oney every day. While balancing your checkbook or calculating your onthly expenditures on espresso requires only arithetic, when we start saving, planning for retireent,
More informationAdaptive Modulation and Coding for Unmanned Aerial Vehicle (UAV) Radio Channel
Recent Advances in Counications Adaptive odulation and Coding for Unanned Aerial Vehicle (UAV) Radio Channel Airhossein Fereidountabar,Gian Carlo Cardarilli, Rocco Fazzolari,Luca Di Nunzio Abstract In
More informationChapter 6. Inequality Measures
Chapter 6. Inequality Measures Summary Inequality is a broader concept than poverty in that it is defined over the entire population, and does not only focus on the poor. The simplest measurement of inequality
More informationLecture L263D Rigid Body Dynamics: The Inertia Tensor
J. Peraire, S. Widnall 16.07 Dynaics Fall 008 Lecture L63D Rigid Body Dynaics: The Inertia Tensor Version.1 In this lecture, we will derive an expression for the angular oentu of a 3D rigid body. We shall
More informationGenerating Certification Authority Authenticated Public Keys in Ad Hoc Networks
SECURITY AND COMMUNICATION NETWORKS Published online in Wiley InterScience (www.interscience.wiley.co). Generating Certification Authority Authenticated Public Keys in Ad Hoc Networks G. Kounga 1, C. J.
More informationEFFICIENCY BY DESIGN STORIES OF BEST PRACTICE IN PUBLIC BODIES
EFFICIENCY BY DESIGN STORIES OF BEST PRACTICE IN PUBLIC BODIES Acknowledgeents We would like to extend a special thank you to ebers of the Public Chairs Foru (PCF) and the Association of Chief Executives
More informationExercise 4 INVESTIGATION OF THE ONEDEGREEOFFREEDOM SYSTEM
Eercise 4 IVESTIGATIO OF THE OEDEGREEOFFREEDOM SYSTEM 1. Ai of the eercise Identification of paraeters of the euation describing a onedegreeof freedo (1 DOF) atheatical odel of the real vibrating
More informationEndogenous CreditCard Acceptance in a Model of Precautionary Demand for Money
Endogenous CreditCard Acceptance in a Model of Precautionary Deand for Money Adrian Masters University of Essex and SUNY Albany Luis Raúl RodríguezReyes University of Essex March 24 Abstract A creditcard
More informationNote on a generalized wage rigidity result. Abstract
Note on a generalized age rigidity result Ariit Mukheree University of Nottingha Abstract Considering Cournot copetition, this note shos that, if the firs differ in labor productivities, the equilibriu
More informationA Gas Law And Absolute Zero Lab 11
HB 040605 A Gas Law And Absolute Zero Lab 11 1 A Gas Law And Absolute Zero Lab 11 Equipent safety goggles, SWS, gas bulb with pressure gauge, 10 C to +110 C theroeter, 100 C to +50 C theroeter. Caution
More informationLesson 44: Acceleration, Velocity, and Period in SHM
Lesson 44: Acceleration, Velocity, and Period in SHM Since there is a restoring force acting on objects in SHM it akes sense that the object will accelerate. In Physics 20 you are only required to explain
More informationModeling Parallel Applications Performance on Heterogeneous Systems
Modeling Parallel Applications Perforance on Heterogeneous Systes Jaeela AlJaroodi, Nader Mohaed, Hong Jiang and David Swanson Departent of Coputer Science and Engineering University of Nebraska Lincoln
More informationAn improved TFIDF approach for text classification *
Zhang et al. / J Zheiang Univ SCI 2005 6A(1:4955 49 Journal of Zheiang University SCIECE ISS 10093095 http://www.zu.edu.cn/zus Eail: zus@zu.edu.cn An iproved TFIDF approach for text classification
More informationCreating Opportunity:
THE APPALACHIAN SAVINGS PROJECT Creating Opportunity: The Ipact of Matched Savings for Childcare Workers WISER WOMEN S INSTITUTE FOR A SECURE RETIREMENT Anita, a childcare worker and participant in the
More informationHW 2. Q v. kt Step 1: Calculate N using one of two equivalent methods. Problem 4.2. a. To Find:
HW 2 Proble 4.2 a. To Find: Nuber of vacancies per cubic eter at a given teperature. b. Given: T 850 degrees C 1123 K Q v 1.08 ev/ato Density of Fe ( ρ ) 7.65 g/cc Fe toic weight of iron ( c. ssuptions:
More informationLesson 13: Voltage in a Uniform Field
Lesson 13: Voltage in a Unifor Field Most of the tie if we are doing experients with electric fields, we use parallel plates to ensure that the field is unifor (the sae everywhere). This carries over to
More informationApplying Multiple Neural Networks on Large Scale Data
0 International Conference on Inforation and Electronics Engineering IPCSIT vol6 (0) (0) IACSIT Press, Singapore Applying Multiple Neural Networks on Large Scale Data Kritsanatt Boonkiatpong and Sukree
More informationExploiting Hardware Heterogeneity within the Same Instance Type of Amazon EC2
Exploiting Hardware Heterogeneity within the Sae Instance Type of Aazon EC2 Zhonghong Ou, Hao Zhuang, Jukka K. Nurinen, Antti YläJääski, Pan Hui Aalto University, Finland; Deutsch Teleko Laboratories,
More informationThis paper studies a rental firm that offers reusable products to price and qualityofservice sensitive
MANUFACTURING & SERVICE OPERATIONS MANAGEMENT Vol., No. 3, Suer 28, pp. 429 447 issn 523464 eissn 5265498 8 3 429 infors doi.287/so.7.8 28 INFORMS INFORMS holds copyright to this article and distributed
More informationPricing Asian Options using Monte Carlo Methods
U.U.D.M. Project Report 9:7 Pricing Asian Options using Monte Carlo Methods Hongbin Zhang Exaensarbete i ateatik, 3 hp Handledare och exainator: Johan Tysk Juni 9 Departent of Matheatics Uppsala University
More informationNiklas Höhne 1, Jan Burck 2, Katja Eisbrenner 1, Marion Vieweg 1, Linde Grießhaber 2
Niklas Höhne 1, Jan Burck 2, Katja Eisbrenner 1, Marion Vieweg 1, Linde Grießhaber 2 1 : Ecofys 2 : Geranwatch With contributions fro: Sebastian Klaus, Karen Klop, Aleander Ochs, Iván F. Rodríguez, Eiel
More informationThe Effects of Child Care Provision in Mexico
The Effects of Child Care Provision in Mexico Gabriela Calderon Stanford University February, 2012 Abstract In 2007, seeking to increase feale labor force participation and ore generally ease burdens on
More informationLocal Area Network Management
Technology Guidelines for School Coputerbased Technologies Local Area Network Manageent Local Area Network Manageent Introduction This docuent discusses the tasks associated with anageent of Local Area
More informationEarnings and Community College Field of Study Choice in Canada
DISCUSSION PAPER SERIES IZA DP No. 1156 Earnings and Counity College Field of Study Choice in Canada Brahi Boudarbat May 2004 Forschungsinstitut zur Zukunft der Arbeit Institute for the Study of Labor
More informationIMPLEMENTING VIRTUAL DESIGN AND CONSTRUCTION (VDC) IN VEIDEKKE USING SIMPLE METRICS TO IMPROVE THE DESIGN MANAGEMENT PROCESS.
Ipleenting Virtual Design and Construction (VDC) in Veidekke Using Siple Metrics to Iprove IMPLEMENTING VIRTUAL DESIGN AND CONSTRUCTION (VDC) IN VEIDEKKE USING SIMPLE METRICS TO IMPROVE THE DESIGN MANAGEMENT
More informationDISCUSSION PAPER. Is PayAsYouDrive Insurance a Better Way to Reduce Gasoline than Gasoline Taxes? Ian W.H. Parry. April 2005 RFF DP 0515
DISCUSSION PAPER April 25 R DP 515 Is PayAsYouDrive Insurance a Better Way to Reduce Gasoline than Gasoline Taxes? Ian W.H. 1616 P St. NW Washington, DC 236 223285 www.rff.org Is PayAsYouDrive
More informationRoland Berger Strategy Consultants. content. Fresh thinking for decision makers
Roland Berger Strategy Consultants content Fresh thinking for decision akers Opportunities for obile telephone operators in rural areas Custoers in the countryside are different They need unique offerings
More informationA Gas Law And Absolute Zero
A Gas Law And Absolute Zero Equipent safety goggles, DataStudio, gas bulb with pressure gauge, 10 C to +110 C theroeter, 100 C to +50 C theroeter. Caution This experient deals with aterials that are very
More informationInternational Journal of Management & Information Systems First Quarter 2012 Volume 16, Number 1
International Journal of Manageent & Inforation Systes First Quarter 2012 Volue 16, Nuber 1 Proposal And Effectiveness Of A Highly Copelling Direct Mail Method  Establishent And Deployent Of PMOSDM Hisatoshi
More informationAn Integrated Approach for Monitoring Service Level Parameters of SoftwareDefined Networking
International Journal of Future Generation Counication and Networking Vol. 8, No. 6 (15), pp. 1974 http://d.doi.org/1.1457/ijfgcn.15.8.6.19 An Integrated Approach for Monitoring Service Level Paraeters
More informationOnline Bagging and Boosting
Abstract Bagging and boosting are two of the ost wellknown enseble learning ethods due to their theoretical perforance guarantees and strong experiental results. However, these algoriths have been used
More informationDesign, optimization and prototyping of small power transformers
Doctoral School of Energy and Geotechnology January 15 20, 2007. Kuressaare, Estonia Design, optiization and prototyping of sall power transforers Avo Reinap, Rando Pikner, Roan Ionikan, Karl Pärn Tallinn
More informationExtendedHorizon Analysis of Pressure Sensitivities for Leak Detection in Water Distribution Networks: Application to the Barcelona Network
2013 European Control Conference (ECC) July 1719, 2013, Zürich, Switzerland. ExtendedHorizon Analysis of Pressure Sensitivities for Leak Detection in Water Distribution Networks: Application to the Barcelona
More informationVectors & Newton's Laws I
Physics 6 Vectors & Newton's Laws I Introduction In this laboratory you will eplore a few aspects of Newton s Laws ug a force table in Part I and in Part II, force sensors and DataStudio. By establishing
More informationA framework for performance monitoring, load balancing, adaptive timeouts and quality of service in digital libraries
Int J Digit Libr (2000) 3: 9 35 INTERNATIONAL JOURNAL ON Digital Libraries SpringerVerlag 2000 A fraework for perforance onitoring, load balancing, adaptive tieouts and quality of service in digital libraries
More informationHigh Performance Chinese/English Mixed OCR with Character Level Language Identification
2009 0th International Conference on Docuent Analysis and Recognition High Perforance Chinese/English Mixed OCR with Character Level Language Identification Kai Wang Institute of Machine Intelligence,
More informationEquivalent Tapped Delay Line Channel Responses with Reduced Taps
Equivalent Tapped Delay Line Channel Responses with Reduced Taps Shweta Sagari, Wade Trappe, Larry Greenstein {shsagari, trappe, ljg}@winlab.rutgers.edu WINLAB, Rutgers University, North Brunswick, NJ
More informationEmployment 1st information for colleges and training providers in Northern Ireland
eployent Eployent st inforation for colleges and training providers in Northern Ireland Eployent st A new collaborative approach to industryspecific preeployent training Hospitality, leisure, travel
More informationChaotic Structures in Brent & WTI Crude Oil Markets: Empirical Evidence
www.ccsenet.org/ijef International Journal of Econoics and Finance Vol. 3, No. 5; October 2011 Chaotic Structures in Brent & WTI Crude Oil Markets: Epirical Evidence LingYun HE Center for Futures and
More informationMotorcycle AccidentProne Types at Intersections and Innovative Improvement Design Guideline
Motorcycle AccidentProne Types at Intersections and Innovative Iproveent Design Guideline Hsu,TienPen a, KuLin Wen b a,b Departent of Civil Engineering, National Taiwan University, Taipei, 6, Taiwan
More informationImage restoration for a rectangular poorpixels detector
Iage restoration for a rectangular poorpixels detector Pengcheng Wen 1, Xiangjun Wang 1, Hong Wei 2 1 State Key Laboratory of Precision Measuring Technology and Instruents, Tianjin University, China 2
More informationCooperative Caching for Adaptive Bit Rate Streaming in Content Delivery Networks
Cooperative Caching for Adaptive Bit Rate Streaing in Content Delivery Networs Phuong Luu Vo Departent of Coputer Science and Engineering, International University  VNUHCM, Vietna vtlphuong@hciu.edu.vn
More informationMarkov Models and Their Use for Calculations of Important Traffic Parameters of Contact Center
Markov Models and Their Use for Calculations of Iportant Traffic Paraeters of Contact Center ERIK CHROMY, JAN DIEZKA, MATEJ KAVACKY Institute of Telecounications Slovak University of Technology Bratislava
More informationLEAN FOR FRONTLINE MANAGERS IN HEALTHCARE An action learning programme for frontline healthcare managers
Course Code: L024 LEAN FOR FRONTLINE MANAGERS IN HEALTHCARE An action learning prograe for frontline healthcare anagers 6 days Green Belt equivalent Are you ready to challenge the status quo and transfor
More informationCurrent literature supports the importance of preservation as a means for revitalizing
POSTLMAYR, LAUREN MICHELLE, M.F.A. Rehab Code versus the North Carolina Building Code: A Coparison of Their Application in Preservation Tax Credit Projects, 22212 (213) Directed by Jo Rasay Leienstoll.
More informationExperiment 2 Index of refraction of an unknown liquid  Abbe Refractometer
Experient Index of refraction of an unknown liquid  Abbe Refractoeter Principle: The value n ay be written in the for sin ( δ +θ ) n =. θ sin This relation provides us with one or the standard ethods
More informationHORIZONTAL AND VERTICAL TAKEOVER AND SELLOFF ANNOUNCEMENTS: ABNORMAL RETURNS DIFFER BY INDUSTRY
HORIZONTAL AND VERTICAL TAKEOVER AND SELLOFF ANNOUNCEMENTS: ABNORMAL RETURNS DIFFER BY INDUSTRY Stephan K.H. Gross*, Hagen Lindstädt** Abstract We begin with the hypothesis that shareholderwealth effects
More information