This paper deals with options on assets, such as stocks or indexes, which pay cash dividends. Pricing methods which consider discrete dividends are usually computationally expensive and become infeasible when one cons...This paper deals with options on assets, such as stocks or indexes, which pay cash dividends. Pricing methods which consider discrete dividends are usually computationally expensive and become infeasible when one considers multiple dividends paid during the option lifetime. This is the case of long-term options and options on indexes. The first purpose of this paper is to assess efficient and accurate numerical procedures which yield consistent prices for both European and American options when the underlying asset pays discrete dividends. The authors then analyze some methodologies to extract information on implied volatilities and dividends from quoted option prices. Implied dividends can also be computed using a modified version of the well-known put-call parity relationship. This technique is straightforward, nevertheless, its use is limited to European options, and when dealing with equities, most traded options are of American type. As an alternative, the numerical inversion of pricing methods, such as efficient interpolated binomial method, can be used. This paper applies different procedures to obtain implied volatilities and dividends of listed stocks of the Italian derivatives market （IDEM）.展开更多
Tertiary sandstones collected from southwest Sarawak, Malaysia, were analyzed to decipher their provenance, weathering, and tectonic setting. The studied sandstones have a sublitharenite composition and are dominantly...Tertiary sandstones collected from southwest Sarawak, Malaysia, were analyzed to decipher their provenance, weathering, and tectonic setting. The studied sandstones have a sublitharenite composition and are dominantly composed quartz with little mica and feldspar, and a small amount of volcanic fragments. These sand- stones were generally derived from quartz-rich recycled orogenic sources. They have relatively high SiO2 content with low Na20, CaO, MnO, and MgO contents. Values of Chemical Index of Alteration （CIA） of these rock samples vary from 71 to 93, with an average of 81, implying intense chemical alteration during weathering. A felsic igneous source is suggested by a low concentration of TiO2 com- pared to CIA, enrichment of Light Rare Earth Elements, depletion of Heavy Rare Earth Elements, and negative Eu anomalies. A felsic origin is further supported by a Eu/Eu＊ range of 0.65-0.85 and high Th/Sc, La/Sc, La/Co, and Th/ Co ratios. This work presents the first reported geochemical data of Tertiary sandstones of the Sarawak Basin. These data led us to conclude that the sandstones were dislodged from recycled orogenic sources and deposited in a slowly subsiding rifted basin in a passive continental tectonic setting.展开更多
US EPA recently issued the final definition for a renewable fuel establishes rule for the revised Renewable Fuel Standard RFS the compliance for each part of its name： （i） to II （Renewable Fuel Standard）. The mai...US EPA recently issued the final definition for a renewable fuel establishes rule for the revised Renewable Fuel Standard RFS the compliance for each part of its name： （i） to II （Renewable Fuel Standard）. The main be a fuel and （ii） to be produced from renewable biomass. This paper addresses the challenges faced by biomass derived fuels on meeting the specifications of those fuels （gasoline, diesel and heating oil）. Biomass-derived products contain oxygenates, some of which might enhance certain fuel specifications, but some others may have deteriorating effects. On directly derived from biomass pyrolysis have been demonstrated to the basis of available data published in the literature, the fuels be far from the concept of ＂substantially similar＂ transportation fuels. Upgrading is required to convert pyrolysis products into fuels that meet specifications. The economical viability of upgrading still faces confirmation, and imposes several technical challenges for truly attractive cost-effective approaches.展开更多
Minced pork paste was mixed with cooked rice and noodle resulted in very popular traditional gourmet meal in Taiwan. The 100 ℃, 4 h was normally cooking condition for commercial business. However, the pressure cooker...Minced pork paste was mixed with cooked rice and noodle resulted in very popular traditional gourmet meal in Taiwan. The 100 ℃, 4 h was normally cooking condition for commercial business. However, the pressure cooker with higher cooking temperature （106 ℃, 116 ℃ and 121 ℃） and different cooking time were under studied in order to improving efficiency, quality and even cost down. The samples of neck pork substitute, cooking at 106℃, 100 rain; 116℃, 75 min; 121 ℃, 45 min with different pressure were perfomed the result as well as traditional 20% fat in ordinary formulation and cooking at 100℃ for 4 h. During storage, the products were taste acceptable for 4 weeks at 4 ℃, 4 months at - 18 ℃ and better than 1 day at 25 ℃ storage.展开更多
Cloud water samples, LWC （Liquid Water Content） and meteorological data were collected at the Clingmans Dome, Tennessee, high-elevation site in Great Smoky Mountains National Park during the warm season from 1994 th...Cloud water samples, LWC （Liquid Water Content） and meteorological data were collected at the Clingmans Dome, Tennessee, high-elevation site in Great Smoky Mountains National Park during the warm season from 1994 through 2011. This paper presents results from 2000 through the conclusion of the study in 2011. Samples were analyzed for SO42＂, NO3, NH4＋ and H＋. These measurements were supplemented by measurements of ambient air and precipitation concentrations to estimate dry and wet deposition. Cloud water concentrations, LWC, cloud frequency, various meteorological measurements and information on nearby forest canopy were used to model cloud water deposition to gauge trends in deposition. Total deposition was calculated as the sum of cloud, dry and wet deposition estimates. Concentrations and deposition fluxes declined over the study period. The decreases in cloud water SO42＂ and NO3 concentrations were 40 percent and 26 percent, respectively. Three-year mean 5042 and NO3 deposition rates decreased by 71 percent and 70 percent, respectively. Trends in concentrations and depositions were comparable with trends in SO2 and NOx emissions from Tennessee Valley Authority power plants and aggregated emission reductions from electric generating units in adjacent states. Back trajectories were simulated with the HYSPLIT model and aggregated over cloud sampling periods from 2000 through 2007 and 2009 through 2011. Trajectories during periods with high H＋ concentrations traveled over local EGU （Electric Generating Unit） emission sources in Tennessee and Kentucky to the Ohio River Valley, Alabama and Georgia with the conclusion that these source regions contributed to acidic cloud water deposition at Clingmans Dome. This work was supported by U.S. Environmental Protection Agency and the Tennessee Valley Authority with infrastructure support provided by the National Park Service.展开更多
The goal of this study was to determine the content of such biological active metals as Se, Hg, AI, Cu, Zn, As, Cd, Pb, Mg, Ca and Fe in Boletus Edulis mushrooms and to study the effect of mushrooms as inhibitors of b...The goal of this study was to determine the content of such biological active metals as Se, Hg, AI, Cu, Zn, As, Cd, Pb, Mg, Ca and Fe in Boletus Edulis mushrooms and to study the effect of mushrooms as inhibitors of blood serum copper-initiated lipid peroxidation. The metals content was determined by ICP-OES technique and blood lipids peroxidation in vitro was assessed by thiobarbituric acid-reactive substances measurement. The dependency between quality and content of the determined biological active metals has been traced. Samples were analyzed of wild growing mushrooms Boletus Edulis from two mountain regions in Bulgaria. On the average the content of Se in Boletus Edulis was found to be 25 mg/kg dried mushroom, this content being higher in tubules than in fleshy part. We found that Boletus Edulis mushrooms inhibited lipid peroxidation in the concentration dependent manner. The effective concentration of Boletus Edulis is in 5 times lower compared to the concentration of Cantharellus Cibarius resulting in similar lipid peroxidation inhibition. This effect can be explained by 56 times higher content of Se and by 1.5 and 3 times lower content of such initiators of lipid peroxidation as Cu and Fe in Boletus Edulis compared to Cantharellus Cibarius. A system with a source of infrared radiation heating, developed by authors, was used for the mushroom mineralization. We conclude that Boletus Edulis is an effective inhibitor of blood lipid peroxidation and in 5 times stronger rather than Cantharellus Cibarius.展开更多
A staggered-grid finite difference method is used to model seismic wave records in a coal bearing, porous medium. The variables analyzed include the order of the difference calculations, the use of a perfect match lay...A staggered-grid finite difference method is used to model seismic wave records in a coal bearing, porous medium. The variables analyzed include the order of the difference calculations, the use of a perfect match layer to provide absorbing boundary conditions, the source location, the stability conditions, and dispersion in the medium. The results show that the location of the first derivative of the dynamic variable with respect to space is coincident with the location of the first derivative of the kinematic varable with respect to time. Outgoing waves are effectively absorbed and reflection at the boundary is very weak when more than 20 perfect match layer cells are used. Blot theory considers the liquid phase to be homogeneous so the ratio of liquid to solid exposure of the seismic source depends upon the medium porosity. Numerical dispersion and generation of false frequencies is reduced by increasing the accuracy of the difference calculations and by reducing the grid size and time step. Temporal second order accuracy, a tenth order spatial accuracy, and a wavelength over more than ten grid points gave acceptable numerical results. Larger grid step sizes in the lateral direction and smaller grid sizes in the vertical direction allow control of dispersion when the medium is a low speed body. This provides a useful way to simulate seismic waves in a porous coal bearing medium.展开更多
Solid state 13C nuclear magnetic resonance （NMR） spectroscopy is a common tool to study the structure of soil humic fractions; however, knowledge regarding carbon structural relationships in humic fractions is limit...Solid state 13C nuclear magnetic resonance （NMR） spectroscopy is a common tool to study the structure of soil humic fractions; however, knowledge regarding carbon structural relationships in humic fractions is limited. In this study, mobile humic acid （MHA） and recalcitrant calcium humate （CallA） fractions were extracted from eight soils collected from six US states and representing a variety of soils and ecoregions, characterized by this spectroscopic technique and analyzed for statistical significance at P 〈 0.05. We found that the abundances of COO and N-C=O functional groups in the MHA fractions were negatively correlated to soil sand content, but were positively correlated to silt, total N and soil organic carbon contents. In contrast, the abundances of the COO and N-C=O functional groups were only positively correlated to the content of clay in the CallA fractions, indicating that the two humic fractions were associated with different soil components. The two 13C NMR peaks representing alkyls and OCH3/NCH were negatively correlated to the peaks representing aromatics, aromatic C-O and N-C=O/COO. Comparison of the sets of data from 13C NMR spectroscopy and ultrahigh resolution mass spectrometry revealed that the aromatic components identified by the two methods were highly consistent. The comparison further revealed that protein in MHA was associated with, or bound to, the nonpolar alkyl groups, but a component competitively against （or complementary to） aromatic groups in the MHA composition. These observations provided insight on the internal correlations of the functional groups of soil humic fractions.展开更多
文摘This paper deals with options on assets, such as stocks or indexes, which pay cash dividends. Pricing methods which consider discrete dividends are usually computationally expensive and become infeasible when one considers multiple dividends paid during the option lifetime. This is the case of long-term options and options on indexes. The first purpose of this paper is to assess efficient and accurate numerical procedures which yield consistent prices for both European and American options when the underlying asset pays discrete dividends. The authors then analyze some methodologies to extract information on implied volatilities and dividends from quoted option prices. Implied dividends can also be computed using a modified version of the well-known put-call parity relationship. This technique is straightforward, nevertheless, its use is limited to European options, and when dealing with equities, most traded options are of American type. As an alternative, the numerical inversion of pricing methods, such as efficient interpolated binomial method, can be used. This paper applies different procedures to obtain implied volatilities and dividends of listed stocks of the Italian derivatives market （IDEM）.
基金the project (PPP) PG003-2013A of the University of Malaya, Kuala Lumpur, Malaysia in carrying out this research work is gratefully acknowledgedthe project RP002C-13AFR of the University of Malaya is also gratefully acknowledged
文摘Tertiary sandstones collected from southwest Sarawak, Malaysia, were analyzed to decipher their provenance, weathering, and tectonic setting. The studied sandstones have a sublitharenite composition and are dominantly composed quartz with little mica and feldspar, and a small amount of volcanic fragments. These sand- stones were generally derived from quartz-rich recycled orogenic sources. They have relatively high SiO2 content with low Na20, CaO, MnO, and MgO contents. Values of Chemical Index of Alteration （CIA） of these rock samples vary from 71 to 93, with an average of 81, implying intense chemical alteration during weathering. A felsic igneous source is suggested by a low concentration of TiO2 com- pared to CIA, enrichment of Light Rare Earth Elements, depletion of Heavy Rare Earth Elements, and negative Eu anomalies. A felsic origin is further supported by a Eu/Eu＊ range of 0.65-0.85 and high Th/Sc, La/Sc, La/Co, and Th/ Co ratios. This work presents the first reported geochemical data of Tertiary sandstones of the Sarawak Basin. These data led us to conclude that the sandstones were dislodged from recycled orogenic sources and deposited in a slowly subsiding rifted basin in a passive continental tectonic setting.
文摘US EPA recently issued the final definition for a renewable fuel establishes rule for the revised Renewable Fuel Standard RFS the compliance for each part of its name： （i） to II （Renewable Fuel Standard）. The main be a fuel and （ii） to be produced from renewable biomass. This paper addresses the challenges faced by biomass derived fuels on meeting the specifications of those fuels （gasoline, diesel and heating oil）. Biomass-derived products contain oxygenates, some of which might enhance certain fuel specifications, but some others may have deteriorating effects. On directly derived from biomass pyrolysis have been demonstrated to the basis of available data published in the literature, the fuels be far from the concept of ＂substantially similar＂ transportation fuels. Upgrading is required to convert pyrolysis products into fuels that meet specifications. The economical viability of upgrading still faces confirmation, and imposes several technical challenges for truly attractive cost-effective approaches.
文摘Minced pork paste was mixed with cooked rice and noodle resulted in very popular traditional gourmet meal in Taiwan. The 100 ℃, 4 h was normally cooking condition for commercial business. However, the pressure cooker with higher cooking temperature （106 ℃, 116 ℃ and 121 ℃） and different cooking time were under studied in order to improving efficiency, quality and even cost down. The samples of neck pork substitute, cooking at 106℃, 100 rain; 116℃, 75 min; 121 ℃, 45 min with different pressure were perfomed the result as well as traditional 20% fat in ordinary formulation and cooking at 100℃ for 4 h. During storage, the products were taste acceptable for 4 weeks at 4 ℃, 4 months at - 18 ℃ and better than 1 day at 25 ℃ storage.
文摘Cloud water samples, LWC （Liquid Water Content） and meteorological data were collected at the Clingmans Dome, Tennessee, high-elevation site in Great Smoky Mountains National Park during the warm season from 1994 through 2011. This paper presents results from 2000 through the conclusion of the study in 2011. Samples were analyzed for SO42＂, NO3, NH4＋ and H＋. These measurements were supplemented by measurements of ambient air and precipitation concentrations to estimate dry and wet deposition. Cloud water concentrations, LWC, cloud frequency, various meteorological measurements and information on nearby forest canopy were used to model cloud water deposition to gauge trends in deposition. Total deposition was calculated as the sum of cloud, dry and wet deposition estimates. Concentrations and deposition fluxes declined over the study period. The decreases in cloud water SO42＂ and NO3 concentrations were 40 percent and 26 percent, respectively. Three-year mean 5042 and NO3 deposition rates decreased by 71 percent and 70 percent, respectively. Trends in concentrations and depositions were comparable with trends in SO2 and NOx emissions from Tennessee Valley Authority power plants and aggregated emission reductions from electric generating units in adjacent states. Back trajectories were simulated with the HYSPLIT model and aggregated over cloud sampling periods from 2000 through 2007 and 2009 through 2011. Trajectories during periods with high H＋ concentrations traveled over local EGU （Electric Generating Unit） emission sources in Tennessee and Kentucky to the Ohio River Valley, Alabama and Georgia with the conclusion that these source regions contributed to acidic cloud water deposition at Clingmans Dome. This work was supported by U.S. Environmental Protection Agency and the Tennessee Valley Authority with infrastructure support provided by the National Park Service.
文摘The goal of this study was to determine the content of such biological active metals as Se, Hg, AI, Cu, Zn, As, Cd, Pb, Mg, Ca and Fe in Boletus Edulis mushrooms and to study the effect of mushrooms as inhibitors of blood serum copper-initiated lipid peroxidation. The metals content was determined by ICP-OES technique and blood lipids peroxidation in vitro was assessed by thiobarbituric acid-reactive substances measurement. The dependency between quality and content of the determined biological active metals has been traced. Samples were analyzed of wild growing mushrooms Boletus Edulis from two mountain regions in Bulgaria. On the average the content of Se in Boletus Edulis was found to be 25 mg/kg dried mushroom, this content being higher in tubules than in fleshy part. We found that Boletus Edulis mushrooms inhibited lipid peroxidation in the concentration dependent manner. The effective concentration of Boletus Edulis is in 5 times lower compared to the concentration of Cantharellus Cibarius resulting in similar lipid peroxidation inhibition. This effect can be explained by 56 times higher content of Se and by 1.5 and 3 times lower content of such initiators of lipid peroxidation as Cu and Fe in Boletus Edulis compared to Cantharellus Cibarius. A system with a source of infrared radiation heating, developed by authors, was used for the mushroom mineralization. We conclude that Boletus Edulis is an effective inhibitor of blood lipid peroxidation and in 5 times stronger rather than Cantharellus Cibarius.
基金supported by the National Basic Research Program of China (Nos.2009CB219603 and 2006CB202209)the National Natural Science Foundation of Special Equipment (No. 50727401)the National Science & Technology Pillar Program in the Eleventh Five-Year PlanPeriod (No. 2007BAK28B03)
文摘A staggered-grid finite difference method is used to model seismic wave records in a coal bearing, porous medium. The variables analyzed include the order of the difference calculations, the use of a perfect match layer to provide absorbing boundary conditions, the source location, the stability conditions, and dispersion in the medium. The results show that the location of the first derivative of the dynamic variable with respect to space is coincident with the location of the first derivative of the kinematic varable with respect to time. Outgoing waves are effectively absorbed and reflection at the boundary is very weak when more than 20 perfect match layer cells are used. Blot theory considers the liquid phase to be homogeneous so the ratio of liquid to solid exposure of the seismic source depends upon the medium porosity. Numerical dispersion and generation of false frequencies is reduced by increasing the accuracy of the difference calculations and by reducing the grid size and time step. Temporal second order accuracy, a tenth order spatial accuracy, and a wavelength over more than ten grid points gave acceptable numerical results. Larger grid step sizes in the lateral direction and smaller grid sizes in the vertical direction allow control of dispersion when the medium is a low speed body. This provides a useful way to simulate seismic waves in a porous coal bearing medium.
文摘Solid state 13C nuclear magnetic resonance （NMR） spectroscopy is a common tool to study the structure of soil humic fractions; however, knowledge regarding carbon structural relationships in humic fractions is limited. In this study, mobile humic acid （MHA） and recalcitrant calcium humate （CallA） fractions were extracted from eight soils collected from six US states and representing a variety of soils and ecoregions, characterized by this spectroscopic technique and analyzed for statistical significance at P 〈 0.05. We found that the abundances of COO and N-C=O functional groups in the MHA fractions were negatively correlated to soil sand content, but were positively correlated to silt, total N and soil organic carbon contents. In contrast, the abundances of the COO and N-C=O functional groups were only positively correlated to the content of clay in the CallA fractions, indicating that the two humic fractions were associated with different soil components. The two 13C NMR peaks representing alkyls and OCH3/NCH were negatively correlated to the peaks representing aromatics, aromatic C-O and N-C=O/COO. Comparison of the sets of data from 13C NMR spectroscopy and ultrahigh resolution mass spectrometry revealed that the aromatic components identified by the two methods were highly consistent. The comparison further revealed that protein in MHA was associated with, or bound to, the nonpolar alkyl groups, but a component competitively against （or complementary to） aromatic groups in the MHA composition. These observations provided insight on the internal correlations of the functional groups of soil humic fractions.
