الصفحة 3
الصفحة 3
Interacting Stochastic Systems
The Research Network on "Interacting stochastic systems of high complexity" set up by the German Research Foundation aimed at exploring and developing connections between research in infinite-dimensional stochastic analysis, statistical physics, spatial population models from mathematical biology, complex models of financial markets or of stochastic models interacting with other sciences. This book presents a structured collection of papers on the core topics, written at the close of the 6-year programme by the research groups who took part in it. The structure chosen highlights the interweaving of certain themes and certain interconnections discovered through the joint work.
Intelligent data engineering and automated Learning - IDEAL 2008 ; 9th International Conference Daejeon, South Korea, November 2-5, 2008 Proceedings
This book constitutes the refereed proceedings of the 9th International Conference on Intelligent Data Engineering and Automated Learning, IDEAL 2008, held in Daejeon, Korea, in November 2008.The 56 revised full papers presented together with 10 invited papers were carefully reviewed and selected from numerous submissions for inclusion in the book. The papers are organized in topical sections on learning and information processing, data mining and information management, bioinformatics and neuroinformatics, agents and distributed systems, as well as financial engineering and modeling.
Intelligent data engineering and automated Learning - IDEAL 2007 ; 8th International Conference, Birmingham, UK, December 16-19, 2007, Proceedings
This book constitutes the refereed proceedings of the 8th International Conference on Intelligent Data Engineering and Automated Learning, IDEAL 2007. The papers are organized in topical sections on learning and information processing, data mining and information management, bioinformatics and neuroinformatics, agents and distributed systems, financial engineering and modeling, agent-based approach to service sciences, as well as neural-evolutionary fusion algorithms and their applications.
Integration in Asia and Europe : Historical Dynamics, Political Issues, and Economic Perspectives
This book critically analyses the economic and institutional changes in both Europe and Asia. There is considerable potential for instability, but one also finds regional growth opportunities. Comparative policy analysis and evaluation of various cooperation strategies are presented. Emphasis is on banking, financial market dynamics, ICT, and macroeconomic policies as well as trade, energy, and environmental issues.
Intangible capital and growth : Essays on labor productivity, monetary economics, and political economy ; Vol.1
It is now widely recognized that intangible capital has been a crucial element in the growth performance of these economies and their firms. In the author's view, “intangible capital” serves as the most appropriate umbrella term for capturing several dimensions of capital that are not tangible in nature but are nevertheless fundamentally important for growth. The term encompasses investments in education (human capital) and in informal (social capital) and formal (rule of law) institutions by the public sector and households, as well as investments by businesses aimed at enhancing their knowledge base, such as software, innovative property, and economic competencies.
Insurance distribution directive : A legal analysis
This book of the AIDA Europe Research Series on Insurance Law and Regulation offers the first comprehensive legal and regulatory analysis of the Insurance Distribution Directive (IDD).
Innovative Learning Environments in STEM Higher Education : Opportunities, Challenges, and Looking Forward
As explored in this book, higher education in STEM fields is influenced by many factors, including education research, government and school policies, financial considerations, technology limitations, and acceptance of innovations by faculty and students.
Innovations in Derivatives Markets : Fixed Income Modeling, Valuation Adjustments, Risk Management, and Regulation
This book presents 20 peer-reviewed chapters on current aspects of derivatives markets and derivative pricing. The contributions, written by leading researchers in the field as well as experienced authors from the financial industry, present the state of the art in: • Modeling counterparty credit risk: credit valuation adjustment, debit valuation adjustment, funding valuation adjustment, and wrong way risk. • Pricing and hedging in fixed-income markets and multi-curve interest-rate modeling. • Recent developments concerning contingent convertible bonds, the measuring of basis spreads, and the modeling of implied correlations.
Inference for change point and post change means after a CUSUM test
This monograph is the first to systematically study the bias of estimators and construction of corrected confidence intervals for change-point and post-change parameters after a change is detected by using a CUSUM procedure. Researchers in change-point problems and sequential analysis, time series and dynamic systems, and statistical quality control will find that the methods and techniques are mostly new and can be extended to more general dynamic models where the structural and distributional parameters are monitored. Practitioners, who are interested in applications to quality control, dynamic systems, financial markets, clinical trials and other areas, will benefit from case studies based on data sets from river flow, accident interval, stock prices, and global warming. Readers with an elementary probability and statistics background and some knowledge of CUSUM procedures will be able to understand most results as the material is relatively self-contained.The exponential family distribution is used as the basic model that includes changes in mean, variance, and hazard rate as special cases. There are fundamental differences between the sequential sampling plan and fixed sample size. Although the results are given under the CUSUM procedure, the methods and techniques discussed provide new approaches to deal with inference problems after sequential change-point detection, and they also contribute to the theoretical aspects of sequential analysis. Many results are of independent interests and can be used to study random walk related stochastic models.
Industry 4.0 for SMEs : Challenges, opportunities and requirements
This book explores the concept of Industry 4.0, which presents a considerable challenge for the production and service sectors. While digitization initiatives are usually integrated into the central corporate strategy of larger companies, smaller firms often have problems putting Industry 4.0 paradigms into practice. Small and medium-sized enterprises (SMEs) possess neither the human nor financial resources to systematically investigate the potential and risks of introducing Industry 4.0. Addressing this obstacle, the international team of authors focuses on the development of smart manufacturing concepts, logistics solutions and managerial models specifically for SMEs. Aiming to provide methodological frameworks and pilot solutions for SMEs during their digital transformation, this innovative and timely book will be of great use to scholars researching technology management, digitization and small business, as well as practitioners within manufacturing companies.
Individual Financial Planning for Retirement : Empirical Insights from the Affluent Segment in Germany
Over time, the responsibility for providing for a financially secure retirement has shifted more towards the individual. A number of implicit assumptions about perspectives, behavior, and individual choices underlie this shift. These assumptions presume that individuals are well-informed and reason unemotionally; that they process information correctly; and that they take rational decisions and act to maximize their own welfare. Empirical evidence, however, shows that such maxims do not often guide individuals’ actual behavior. Building on a new structure applied to insights drawn from behavioral finance, this book analyzes the perspectives of individuals with regard to their financial situation in retirement and compares the actions they take with ideal behavior. The work provides new insights into the broadly defined topic of individual retirement-specific financial planning behavior.
Improving operating leverage using hyperautomation : Unlock strategic advantages across banking and non-banking financial institutions
Delving in depth into enterprise non-interest operating cost management and operating leverage. operating Leverage is about managing a bank's capabilities and its capacity to deliver its products and services efficiently. it is not limited to managing operational costs but includes the operational support for the growth of business and for improving profitability. the reader can learn to improve risk adjusted operational effectiveness by implementing a nuanced approach to managing performance, risk, control, and cost simultaneously, at the process level. the book explains why hyperautomation, a technology that intelligently automates business processes is a more advanced and comprehensive way to manage these factors in a holistic and integrated way.
Improving Healthcare : A Dose of Competition
Improving Healthcare: A Dose of Competition systematically examines the American health care system from a competition-oriented perspective. The volume surveys the performance of each major sector of the health care system, and identifies impediments to more effective competition. Improving Healthcare examines such issues as competition v. regulation, public and private sector approaches to health care financing, cross-subsidies, licensure, provider market concentration, financial and clinical integration, payment for performance, quality, pharmacy benefit managers, direct-to-consumer advertising of pharmaceuticals, certificates of need, mandates, unionization, the significance of organizational status (nonprofit v. for-profit), and the role of antitrust and consumer protection in health care. It offers concrete recommendations to improve the quality and cost-effectiveness of the American health care marketplace.
Implementing Models in Quantitative Finance : Methods and Cases
This book puts numerical methods into action for the purpose of solving concrete problems arising in quantitative finance. Part one develops a comprehensive toolkit including Monte Carlo simulation, numerical schemes for partial differential equations, stochastic optimization in discrete time, copula functions, transform-based methods and quadrature techniques. The content originates from class notes written for courses on numerical methods for finance and exotic derivative pricing held by the authors at Bocconi University since the year 2000. Part two proposes eighteen self-contained cases covering model simulation, derivative valuation, dynamic hedging, portfolio selection, risk management, statistical estimation and model calibration. It encompasses a wide variety of problems arising in markets for equity, interest rates, credit risk, energy and exotic derivatives.
Implementing machine learning for finance : A systematic approach to predictive risk and performance analysis for investment portfolios
Introduces pattern recognition and future price forecasting that exerts effects on time series analysis models, such as the Autoregressive Integrated Moving Average (ARIMA) model, Seasonal ARIMA (SARIMA) model, and Additive model, and it covers the Least Squares model and the Long Short-Term Memory (LSTM) model. It presents hidden pattern recognition and market regime prediction applying the Gaussian Hidden Markov Model. The book covers the practical application of the K-Means model in stock clustering. It establishes the practical application of the Variance-Covariance method and Simulation method (using Monte Carlo Simulation) for value at risk estimation. It also includes market direction classification using both the Logistic classifier and the Multilayer Perceptron classifier. Finally, the book presents performance and risk analysis for investment portfolios. You will: Understand the fundamentals of the financial market and algorithmic trading, as well as supervised and unsupervised learning models that are appropriate for systematic investment portfolio management / Know the concepts of feature engineering, data visualization, and hyperparameter optimization / Design, build, and test supervised and unsupervised ML and DL models / Discover seasonality, trends, and market regimes, simulating a change in the market and investment strategy problems and predicting market direction and prices / Structure and optimize an investment portfolio with preeminent asset classes and measure the / underlying risk
Impact of Institutions on Lending : Informal Constraints and Enforcement of Bank Regulation in Mongolia
Chuluunbaatar Enkhzaya examines the "inadequate" behaviour of banks in Mongolia by analysing the institutional framework of the banking system, especially in lending. She focuses on the genesis of informal institutions of lending and their interaction with formal institutions of lending. Herewith, informal institutions such as the attitude to risk were indirectly observed by diagnosing the "action-regulating" knowledge of bankers. In order to ensure an effective allocation of the scarce financial resources of Mongolia the author therefore suggests a change - as simultaneous as possible - of formal and informal rules.
Impact of artificial intelligence on organizational transformation
Covers the areas like artificial intelligence & its impact on professions, as well as machine learning algorithms and technologies. The context of applications of AI in business process innovation primarily includes new business models, AI readiness and maturity at the organizational, technological, financial, and cultural levels. The book has extensive details on machine learning and the applications such as robotics, blockchain, Internet of Things. Also discussed are the influence of AI on financial strategies and policies, human skills & values, procurement innovation, production innovation, AI in marketing & sales platforms.
IFRS for Small and Medium-Sized Enterprises : Structuring the Transition Process
In the process of converting to IFRS, a number of practical questions arise concerning the structures of the accounting area department of medium-sized enterprises as well as the issue of effectively updating financial statements once converted, which have thus far not been addressed in the debate. Richard Wittsiepe analyses the relevant IFRS statements with a view to possibly integrating them into existing workflows in an annual audit. He weighs the key issues of conversion by comparing them with the 4th EU Directive for accounting within the EU. The aim is to visualise the workflows as the basis for creating support software which can make a key contribution to cost-effective conversion.
Ifo Survey Data in Business Cycle and Monetary Policy Analysis
The business surveys of the Ifo Institute (short for Information and Forschung) are internationally renowned. Every month close to 7,000 enterprises are questioned on their short-term planning and their appraisals of the actual and future business situation. The confidence indicator frequently referred to as the Ifo Business Climate Index is derived from the responses to this Ifo Business Survey. While the Index attracts a lot of attention by practitioners (especially financial market analysts), the use and empirical exploitation of this and other components of Ifo business surveys is – amongst academics – still relatively scarce. The present volume, based on a conference entitled "The Academic Use of Ifo Survey Data", gives examples of timely research questions which can be addressed by qualitative survey data like the monthly Ifo Business Survey. It shows that this type of real-time data can be very informative when it comes to forecasting real economic activity or exploring monetary policy transmission.
How to Build a Modern Tontine : Algorithms, Scripts and Tips
This book introduces the modern tontine and its applications in retirement and decumulation. Personal financial management in the later stages of life presents unique challenges, and renowned retirement planning expert Dr. Milevsky proposes the modern tontine as a solution. With the goal of guiding professionals and retirees in more efficient decumulation, the book demonstrates how to build a modern tontine. It is technically oriented, employing a cookbook format, featuring R code, and examining retirement planning through a statistical lens.
