الصفحة 3
الصفحة 3
Dynamic Asset Allocation with Forwards and Futures
DYNAMIC ASSET ALLOCATION WITH FORWARD AND FUTURES is an advanced text on the theory of forward and futures markets which aims at providing readers with a comprehensive knowledge of how prices are established and evolve over time, what optimal strategies one can expect from the participants, what characterizes such markets, and what major theoretical and practical differences distinguish futures from forward contracts. The book proposes an approach of these markets from the perspective of dynamic asset allocation and asset pricing theory within an inter-temporal framework. The main ingredients that are used are the assumed absence of frictions and arbitrage opportunities in financial and real markets, the uniqueness of the economic general equilibrium, when such an equilibrium is required and the tools of continuous time finance, namely martingale theory and stochastic dynamic programming. The scope of DYNAMIC ASSET ALLOCATION WITH FORWARD AND FUTURES is essentially theoretical, with emphasis on economic meaning and financial interpretation. Regarding investment and/or hedging, focus is on optimal strategies rather than on actual practice. Simulations, however, are performed when important insights can be delivered as to the practical relevance of some theoretical results. Also, optimal strategies using futures are shown to differ markedly from those using forwards. The following issues are examined: pure hedging, investment and hedging in complete or incomplete markets, currency risk, optimal spreading, presence of stochastic dividend or convenience yields, pricing of non-redundant futures or forwards by means of general equilibrium analysis, and revisiting of existing Capital Asset Pricing Models.
Disseminative Capabilities : A Case Study of Collaborative Product Development in the Automotive Industry
Nowadays, cooperating in Product Development seems to be a dominant strategy to lower costs and risks, to fully utilize capacities, and to gain access to lacking knowledge assets. Oppat analyzes cooperations in Product Development with a special focus on the automotive industry. He seeks answers to the question of how knowledge transfer between involved partners takes place. Although knowledge transfer and its success levers (e.g. absorptive capacity) are well-researched phenomena, equivalent investigations of the sender and her capabilities (DiC - Disseminative Capabilities) impacting inter-organizational transfer success are lacking. The in-depth case studies conducted concentrate on joint car development projects between Magna Steyr, an Austrian-based company, and German-based BMW, Mercedes Benz, and Audi. The research results clearly indicate that DiC have an impact on the knowledge transfer process and can explain why the analyzed projects differ in terms of transfer success. Based on the research findings, this work provides managerial implications for all eight dimensions of DiC and, by deploying insights from the empirical investigations, outlines ways to develop them successfully.
Demystifying Internet of Things Security : Successful IoT Device/Edge and Platform Security Deployment
The IoT presents unique challenges in implementing security and Intel has both CPU and Isolated Security Engine capabilities to simplify it. This book explores the challenges to secure these devices to make them immune to different threats originating from within and outside the network. The requirements and robustness rules to protect the assets vary greatly and there is no single blanket solution approach to implement security.
DeFi For Dummies
Learn how the DeFi revolution started and where it’s going Get insight into opportunities for getting started and building value with DeFi Discover the leading assets, exchanges, and marketplaces built on DeFi principles Create secure DeFi applications on established platforms This book is great for current pros or active investors in the world of finance who need to get up to speed on the world of DeFi as quickly and clearly as possible.
Data Journeys in the Sciences
This groundbreaking, book analyses and compares data practices across several fields through the analysis of specific cases of data journeys. It brings together leading scholars in the philosophy, history and social studies of science to achieve two goals: tracking the travel of data across different spaces, times and domains of research practice; and documenting how such journeys affect the use of data as evidence and the knowledge being produced.
Contributions to Ubiquitous Computing
This book puts the larger vision of ubiquitous computing in the context of today’s mobile and distributed computing systems and presents innovative solutions at all system layers ranging from hardware over vertical and horizontal infrastructure services and novel middleware techniques to various types of application software. Some chapters address core properties of ubiquitous applications including mobility, self-healing and self-organisation of both technical and social-technical systems. Other contributions deal with common facilities like secure e-payment or semantic web techniques and business solutions like wireless asset management or e- maintenance. Distributed systems management with self-monitoring capabilities, Internet congestion control, and novel security solutions coping with denial of service attacks against mobile agent systems and software- and hardware-based data encryption methods are further topics addressed.
Martingale Methods in Financial Modelling
This book provides a comprehensive, self-contained and up-to-date treatment of the main topics in the theory of option pricing. The first part of the text starts with discrete-time models of financial markets, including the Cox-Ross-Rubinstein binomial model. The passage from discrete- to continuous-time models, done in the Black-Scholes model setting, assumes familiarity with basic ideas and results from stochastic calculus. However, an Appendix containing all the necessary results is included. This model setting is later generalized to cover standard and exotic options involving several assets and/or currencies. An outline of the general theory of arbitrage pricing is presented. The second part of the text is devoted to the term structure modelling and the pricing of interest-rate derivatives. The main emphasis is on models that can be made consistent with market pricing practice.
Market-Consistent Actuarial Valuation
It is a challenging task to read the balance sheet of an insurance company. This derives from the fact that different positions are often measured by different yardsticks. Assets, for example, are mostly valued at market prices whereas liabilities are often measured by established actuarial methods. Market-Consistent Actuarial Valuation presents powerful methods to measure liabilities and assets in the same way. The mathematical framework that leads to market-consistent values for insurance liabilities is explained in detail by the authors. Topics covered are Stochastic discounting, Valuation portfolio in life and non-life insurance, Asset and liability management, Financial risks, Insurance technical risks, and Solvency.
Market-Conform Valuation of Options
we will investigate the 'market-conform' pricing of newly issued contingent claims. A contingent claim is a derivative whose value at any settlement date is determined by the value of one or more other underlying assets, e. g. , forwards, futures, plain-vanilla or exotic options with European or American-style exercise features. Market-conform pricing means that prices of existing actively traded securities are taken as given, and then the set of equivalent martingale measures that are consistent with the initial prices of the traded securities is derived using no-arbitrage arguments.
Managing Risk and Information Security : Protect to Enable
Examine the evolving enterprise security landscape and discover how to manage and survive risk. While based primarily on the author’s experience and insights at major companies where he has served as CISO and CSPO, the book also includes many examples from other well-known companies and provides guidance for a management-level audience. Managing Risk and Information Security provides thought leadership in the increasingly important area of enterprise information risk and security. It describes the changing risk environment and why a fresh approach to information security is needed. Because almost every aspect of an enterprise is now dependent on technology not only for internal operations but increasing as a part of product or service creation, the focus of IT security must shift from locking down assets to enabling the business while managing and surviving risk. This edition discusses business risk from a broader perspective, including privacy and regulatory considerations. It describes the increasing number of threats and vulnerabilities and offers strategies for developing solutions. These include discussions of how enterprises can take advantage of new and emerging technologies—such as social media and the huge proliferation of Internet-enabled devices—while minimizing risk.
Life Cycle Investing and Occupational Old-Age Provision in Switzerland
Florian Zainhofer uses the theory of life cycle investing, i.e. how we should optimally choose our savings rate and risky asset share throughout our lives, as a framework to study the implications of a potential BVG individualization. Following an introduction on the Swiss system of old-age provision, the author reviews recent life cycle models of portfolio choice and covers their numerical solution algorithms in depth. He presents an empirical analysis of Swiss workers’ earnings dynamics since these are important determinants of life cycle investment behavior. To further investigate the implications of a flexible contribution rate and risky asset share in the mandatory BVG, the author proposes a model adapted to Swiss conditions and parameterized with the estimated earnings dynamics.
Laser in restorative dentistry
The application of lasers in restorative dentistry has revolutionized dental treatments, offering enhanced precision, reduced discomfort, and improved clinical outcomes. Lasers have become a valuable tool in procedures such as cavity preparation, caries removal, tooth whitening, and composite resin curing. Their ability to selectively target diseased tissue while preserving healthy structures minimizes trauma and promotes faster healing. Moreover, lasers offer a less invasive alternative to traditional mechanical methods, often eliminating the need for anesthesia. This technology's versatility allows for its use in both hard and soft tissue treatments, including gingival recontouring and managing peri-implant diseases. As laser technology continues to advance, its integration into restorative dental practices offers significant potential for improved patient care, greater procedural efficiency, and long-term durability of restorations. Future developments in laser applications are expected to expand their role, making them an indispensable asset in modern dentistry.
Bond Portfolio Optimization
1 The tools of modern portfolio theory are in general use in the equity markets, either in the form of portfolio optimization software or as an accepted frame- 2 work in which the asset managers think about stock selection. In the ?xed income market on the other hand, these tools seem irrelevant or inapplicable. Bond portfolios are nowadays mainly managed by a comparison of portfolio 3 4 risk measures vis ¶a vis a benchmark. The portfolio manager’s views about the future evolution of the term structure of interest rates translate th- selves directly into a positioning relative to his benchmark, taking the risks of these deviations from the benchmark into account only in a very crude 5 fashion, i.e. without really quantifying them probabilistically. This is quite surprising since sophisticated models for the evolution of interest rates are commonly used for interest rate derivatives pricing and the derivation of ?xed 6 income risk measures.
Bluetooth based indoor location positioning system for mobile robot navigation
Positioning objects has been an important topic since it’s needed to locate people, guide them to a certain place, and assist companies and organizations with their assets management. Great applicational opportunities emerge based on the inquiry of Received Signal Strength Indicator (RSSI). In this research, a positioning system using Bluetooth RSSI is proposed for indoor applications. First, RSSI values are inquired multiple times and the average is taken at multiple points of different distances from the transmitters. Then the distance is determined by the variations of RSSI values respectively to distance variations. Finally, a triangulation algorithm is used to calculate the current location of the receiver.
Big data and artificial intelligence in digital finance : Increasing personalization and trust in digital finance using big data and AI
This book presents how cutting-edge digital technologies like Machine Learning, Artificial Intelligence (AI), and Blockchain are set to disrupt the financial sector. The book illustrates how recent advances in these technologies facilitate banks, FinTechs, and financial institutions to collect, process, analyze, and fully leverage the very large amounts of data that are nowadays produced and exchanged in the sector. To this end, the book also introduces some of the most popular Big Data, AI and Blockchain applications in the sector, including novel applications in the areas of Know Your Customer (KYC), Personalized Wealth Management and Asset Management, Portfolio Risk Assessment, as well as variety of novel Usage-based Insurance applications based on Internet-of-Things data.
Banking for Family Business: A New Challenge for Wealth Management
Hints of globalization have actually been around for several decades, even though they made only a modest impact; however, the availability of global capital and advances in communication technology have emp- sized the process of internationalization and the tools available to connect and integrate business activities to answer to more complex needs of c- ents. Moreover, the financial scandals and the review of mutual fund trade activity in the US by the Attorney General Elliot Spitzer have highlighted the importance to focus all efforts on renewing the confidence of prof- sional investors and their clients who have entrusted their capital to asset managers. Therefore, there is a growing need in the market to reinforce the concept of “Shared Positive Values” among the entire industry and among its stakeholders.
Assets Liabilities Management
This project will shed a light on Assets Liabilities Management (ALM) and its importance. The assignment should cover all aspects of ALM from its meaning and its pros and cons, followed by its contents, to the types of risks that accompany it. The end of this project should contain the reports made on the responses gathered from the survey involving the use of ALM programs in the Syrian market.
Assetization : Turning Things into Assets in Technoscientific Capitalism
In this book, scholars from a range of disciplines argue that the asset—meaning anything that can be controlled, traded, and capitalized as a revenue stream—has become the primary basis of technoscientific capitalism. An asset can be an object or an experience, a sum of money or a life form, a patent or a bodily function. A process of assetization prevails, imposing investment and return as the key rationale, and overtaking commodification and its speculative logic. Although assets can be bought and sold, the point is to get a durable economic rent from them rather than make a killing on the market. Assetization examines how assets are constructed and how a variety of things can be turned into assets, analyzing the interests, activities, skills, organizations, and relations entangled in this process.
Asset Sales : Their Role in Restructuring and Financing Firms
Examines the corporate asset market and the mechanisms of asset sale transactions. The book then focuses on the theory of finance in asset sales (the efficiency and financing theory) and the extensive empirical literature now available. In light of recent and rapid technological and digital advances, the last section presents new perspectives on analyzing asset sales transactions. Chiefly intended as a primer for PhD students and academics, the book offers a road map of the empirical research landscape and suggests future research directions.
Asset prices, booms and recessions : Financial economics from a dynamic perspective
Studies the interaction of the financial market, economic activity and the macroeconomy from a dynamic perspective. The financial market to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence.
