Forest Stock Volume(FSV)is one of the key indicators in forestry resource investigation and management on local,regional,and national scales.Limited by the saturation problems of optical satellite remote-sensing image...Forest Stock Volume(FSV)is one of the key indicators in forestry resource investigation and management on local,regional,and national scales.Limited by the saturation problems of optical satellite remote-sensing imagery in the retrieving of stock volume,and the high cost of Light Detection And Ranging(LiDAR)data,it is still challenging to estimate FSV in a large area using single-sensor remote-sensing data.In this paper,a method integrated multispectral satellite imagery and LiDAR data was developed to map stock volume in a large area.A random forest model was adopted to estimate the stock volume of larch forest in China based on the training samples from the Airborne Laser Scanning(ALS)-derived stock volume and corresponding Sentinel-2 imagery.Validation using National Forest Inventory(NFI)data,ALS-derived stock volume and ground investigation data demonstrated that the estimated stock volume had a high accuracy(R2=0.59,RMSE=59.69 m^(3)/ha,MD=39.96 m^(3)/ha when validated with NFI data;R2 ranged from 0.77 to 0.85,RMSE ranged from 38.68 m^(3)/ha to 67.38 m^(3)/ha,MD ranged from 24.90 m^(3)/ha to 37.27 m^(3)/ha when validated with ALS stock volume;R2=0.42,RMSE=79.10 m^(3)/ha,MD=62.06 m^(3)/ha when validated with field investigation data).Results of this paper indicated the applicability of estimating stock volume of larch forest in a large area by combining Sentinel-2 data and airborne LiDAR data.展开更多
Stock market is volatile and predicting stock prices is a challenging task.Stock prices are influenced by multiple factors,and prediction using only numerical or image features is ineffective.To solve this problem,we ...Stock market is volatile and predicting stock prices is a challenging task.Stock prices are influenced by multiple factors,and prediction using only numerical or image features is ineffective.To solve this problem,we propose a Hybrid Channel Stock model that incorporates multiple features of basic stock data,K-line charts and technical indicator factors for predicting the closing price of a stock on day n+1.The model combines multiple aspects of data and uses a multi-channel structure including improved CNN-TW,bidirectional LSTM and Transformer network.First,we construct the multi-channel branches of the multi-faceted feature fusion input network model;second,in this paper,we will use the concatenate method to stitch the output of each branch as the input of the rest of the network;the last layer in the network is the fully connected layer,which combines the linear activation function regression to output the predicted prices.Finally,we conducted extensive experiments on the Dow 30,SSH 50 and CSI100 indices.The experimental results show that the Hybrid Channel Stock method has the best performance with the smallest MSE,RMSE,MAE and MAPE compared with existing models.in addition,the experiments on different trading days validate the stability and effectiveness of the model,providing an important reference for investors to make stock investment decisions.展开更多
Accurate estimations of biomass and its temporal dynamics are crucial for monitoring the carbon cycle in forest ecosystems and assessing forest carbon sequestration potentials.Recent studies have shown that integratin...Accurate estimations of biomass and its temporal dynamics are crucial for monitoring the carbon cycle in forest ecosystems and assessing forest carbon sequestration potentials.Recent studies have shown that integrating process-based models(PBMs)with remote sensing data can enhance simulations from stand to regional scales,significantly improving the ability to simulate forest growth and carbon stock dynamics.However,the utilization of PBMs for large-scale simulation of larch carbon storage distribution is still limited.In this study,we applied the parameterized 3-PG(Physiological Principles Predicting Growth)model across the Mengjiagang Forest Farm(MFF)to make broad-scale predictions of the biomass and carbon stocks of Larix olgensis plantation.The model was used to simulate average diameter at breast height(DBH)and total biomass,which were later validated with a wide range of observation data including sample plot data,forest management inventory data,and airborne laser scanning data.The results showed that the 3-PG model had relatively high accuracy for predicting both DBH and total biomass at stand and regional scale,with determination coefficients ranging from 0.78 to 0.88.Based on the estimation of total biomass,we successfully produced a carbon stock map of the Larix olgensis plantation in MFF with a spatial resolution of 20 m,which helps with relevant management advice.These findings indicate that the integration of 3-PG model and remote sensing data can well predict the biomass and carbon stock at regional and even larger scales.In addition,this integration facilitates the evaluation of forest carbon sequestration capacity and the development of forest management plans.展开更多
Biodiversity,large trees,and environmental conditions such as climate and soil have important effects on forest carbon stocks.However,recent studies in temperate forests suggest that the relative importance of these f...Biodiversity,large trees,and environmental conditions such as climate and soil have important effects on forest carbon stocks.However,recent studies in temperate forests suggest that the relative importance of these factors depends on tree mycorrhizal associations,whereby large-tree effects may be driven by ectomycorrhizal(EM)trees,diversity effects may be driven by arbuscular mycorrhizal(AM)trees,and environment effects may depend on differential climate and soil preferences of AM and EM trees.To test this hypothesis,we used forest-inventory data consisting of over 80,000 trees from 631 temperate-forest plots(30 m×30 m)across Northeast China to examine how biodiversity(species diversity and ecological uniqueness),large trees(top 1%of tree diameters),and environmental factors(climate and soil nutrients)differently regulate aboveground carbon stocks of AM trees,EM trees,and AM and EM trees combined(i.e.total aboveground carbon stock).We found that large trees had a positive effect on both AM and EM tree carbon stocks.However,biodiversity and environmental factors had opposite effects on AM vs.EM tree carbon stocks.Specifically,the two components of biodiversity had positive effects on AM tree carbon stocks,but negative effects on EM tree carbon stocks.Environmental heterogeneity(mean annual temperature and soil nutrients)also exhibited contrasting effects on AM and EM tree carbon stocks.Consequently,for the total carbon stock,the positive large-tree effect far surpasses the diversity and environment effect.This is mainly because when integrating AM and EM tree carbon stock into total carbon stock,the opposite diversity-effect(also environment-effect)on AM vs.EM tree carbon stock counteracts each other while the consistent positive large-tree effect on AM and EM tree carbon stock is amplified.In summary,this study emphasized a mycorrhizal viewpoint to better understand the determinants of overarching aboveground carbon profile across regional forests.展开更多
Savannas constitute a mixture of trees and shrub patches with a more continuous herbaceous understory.The contribution of this biome to the soil organic carbon(SOC)and above-ground biomass(AGB)carbon(C)stock globally ...Savannas constitute a mixture of trees and shrub patches with a more continuous herbaceous understory.The contribution of this biome to the soil organic carbon(SOC)and above-ground biomass(AGB)carbon(C)stock globally is significant.However,they are frequently subjected to land use changes,promoting increases in CO_(2) emissions.In Uruguay,subtropical wooded savannas cover around 100,000 ha,of which approximately 28%is circumscribed to sodic soils(i.e.,subtropical halophytic wooded savannas).Nevertheless,there is little background about the contribution of each ecosystem component to the C stock as well as site-specific allometric equations.The study was conducted in 5 ha of subtropical halophytic wooded savannas of the national protected area Esteros y Algarrobales del Rio Uruguay.This work aimed to estimate the contribution of the main ecosystem components(e.g.,soil,trees,shrubs,and herbaceous plants)to the C stock.Site-specific allometric equations for the most frequent tree species and shrub genus were fitted based on basal diameter(BD)and total height(H).The fitted equations accounted for between 77%and 98%of the aerial biomass variance of Netuma affinis and Vachellia caven.For shrubs(Baccharis sp.),the adjusted equation accounted for 86%of total aerial biomass.C stock for the entire system was 116.71±11.07 Mg·ha^(-1),of which 90.7%was allocated in the soil,8.3%in the trees,0.8%in the herbaceous plants,and 0.2%in the shrubs.These results highlight the importance of subtropical halophytic wooded savannas as C sinks and their relevance in the mitigation of global warming under a climate change scenario.展开更多
Self-rooted apple stock is widely used for apple production.However,the shallowness of the adventitious roots in self-rooted apple stock leads to poor performance in the barren orchards of China.This is because of the...Self-rooted apple stock is widely used for apple production.However,the shallowness of the adventitious roots in self-rooted apple stock leads to poor performance in the barren orchards of China.This is because of the considerable difference in the development of a gravitropic set-point angle(GSA)between self-rooted apple stock and seedling rootstock.Therefore,it is crucial to study the molecular mechanism of adventitious root GSA in self-rooted apple stock for breeding self-rooted and deep-rooted apple rootstock cultivars.An apple auxin response factor MdARF19 functioned to establish the adventitious root GSA of self-rooted apple stock in response to gravity and auxin signals.MdARF19 bound directly to the MdPIN7 promoter,activating its transcriptional expression and thus regulating the formation of the adventitious root GSA in 12-2 self-rooted apple stock.However,MdARF19 influenced the expression of auxin efflux carriers(MdPIN3 and MdPIN10)and the establishment of adventitious root GSA of self-rooted apple stock in response to gravity signals by direct activation of MdFLP.Our findings provide new information on the transcriptional regulation of MdPIN7 by auxin response factor MdARF19 in the regulation of the adventitious root GSA of self-rooted apple stock in response to gravity and auxin signals.展开更多
Soil organic carbon(SOC)affects the function of terrestrial ecosystem and plays a vital role in global carbon cycle.Yet,large uncertainty still existed regarding the changes in SOC stock and quality with forest succes...Soil organic carbon(SOC)affects the function of terrestrial ecosystem and plays a vital role in global carbon cycle.Yet,large uncertainty still existed regarding the changes in SOC stock and quality with forest succession.Here,the stock and quality of SOC at 1-m soil profile were investigated across a subalpine forest series,including shrub,deciduous broad-leaved forest,broadleaf-conifer mixed forest,middle-age coniferous forest and mature coniferous forest,which located at southeast of Tibetan Plateau.The results showed that SOC stock ranged from 9.8 to29.9 kg·m^(-2),and exhibited a hump-shaped response pattern across the forest successional series.The highest and lowest SOC stock was observed in the mixed forest and shrub forest,respectively.The SOC stock had no significant relationships with soil temperature and litter stock,but was positively correlated with wood debris stock.Meanwhile,the average percentages of polysaccharides,lignins,aromatics and aliphatics based on FTIR spectroscopy were 79.89%,0.94%,18.87%and 0.29%,respectively.Furthermore,the percentage of polysaccharides exhibited an increasing pattern across the forest successional series except for the sudden decreasing in the mixed forest,while the proportions of lignins,aromatics and aliphatics exhibited a decreasing pattern across the forest successional series except for the sudden increasing in the mixed forest.Consequently,the humification indices(HIs)were highest in the mixed forest compared to the other four successional stages,which means that the SOC quality in mixed forest was worse than other successional stages.In addition,the SOC stock,recalcitrant fractions and HIs decreased with increasing soil depth,while the polysaccharides exhibited an increasing pattern.These findings demonstrate that the mixed forest had higher SOC stock and worse SOC quality than other successional stages.The high proportion of SOC stock(66%at depth of 20-100 cm)and better SOC quality(lower HIs)indicate that deep soil have tremendous potential to store SOC and needs more attention under global chan ge.展开更多
The present study examines the impact of short-term public opinion sentiment on the secondary market,with a focus on the potential for such sentiment to cause dramatic stock price fluctuations and increase investment ...The present study examines the impact of short-term public opinion sentiment on the secondary market,with a focus on the potential for such sentiment to cause dramatic stock price fluctuations and increase investment risk.The quantification of investment sentiment indicators and the persistent analysis of their impact has been a complex and significant area of research.In this paper,a structured multi-head attention stock index prediction method based adaptive public opinion sentiment vector is proposed.The proposedmethod utilizes an innovative approach to transform numerous investor comments on social platforms over time into public opinion sentiment vectors expressing complex sentiments.It then analyzes the continuous impact of these vectors on the market through the use of aggregating techniques and public opinion data via a structured multi-head attention mechanism.The experimental results demonstrate that the public opinion sentiment vector can provide more comprehensive feedback on market sentiment than traditional sentiment polarity analysis.Furthermore,the multi-head attention mechanism is shown to improve prediction accuracy through attention convergence on each type of input information separately.Themean absolute percentage error(MAPE)of the proposedmethod is 0.463%,a reduction of 0.294% compared to the benchmark attention algorithm.Additionally,the market backtesting results indicate that the return was 24.560%,an improvement of 8.202% compared to the benchmark algorithm.These results suggest that themarket trading strategy based on thismethod has the potential to improve trading profits.展开更多
In the middle and later stages of urbanization development,the growth of the real estate industry will stagnate,and urban renewal will become the mainstream.With the advancement of urban renewal,there are still proble...In the middle and later stages of urbanization development,the growth of the real estate industry will stagnate,and urban renewal will become the mainstream.With the advancement of urban renewal,there are still problems in improving the quality of cities in the stock era and their design strategies.This paper analyzed the Linping Old City organic renewal project and the Xishui River ecological governance project in the stock era of urban quality improvement by sorting out the current development status,historical background,planning types,and design strategies of quality improvement in the stock era from the perspective of urban renewal,combining with project overview,main problems,design methods,and design content.Urban renewal is the leading direction for promoting urban development and construction on a global scale,and countries formulate different plans and practices based on their local characteristics.Urban renewal strategies should be diversified,and focus on livable environments,urban characteristics,etc.,while considering human factors,green innovation,etc.,in order to achieve smart community management and enhance the economic and social benefits brought by urban attractiveness.For successful cases such as the Linping Old City and Xishui River ecological governance project,corresponding urban quality improvement strategies and implementation plans should be formulated according to local conditions,with emphasis on social participation and people’s livelihood improvement.This study can help urban planning pay more attention to rational utilization and upgrading of existing urban resources,adapt to the current urban development situation,and promote sustainable urban development.展开更多
We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction...We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.展开更多
Mango tilapia, Sarotherodon galilaeus is one of the most caught fish species in the Samandeni multi-species fishing sites of which, few data on its biology and exploitation are available. The study aimed to Assess the...Mango tilapia, Sarotherodon galilaeus is one of the most caught fish species in the Samandeni multi-species fishing sites of which, few data on its biology and exploitation are available. The study aimed to Assess the stock status of S. galilaeus. Sampling was conducted from March, 2021 to February 2022 based on commercial fish catches to analyze growth parameters, first sexual maturity size and harvest status of the stock. A total of 572 specimens including 297 females and 275 males were examined. The stock assessment was performed by using the Length based Bayesian method of Biomass (LBB) and that of growth by the ELEFAN method. The growth parameters showed a seasonality of growth and females appeared to grow faster than males. On the other hand, males had a greater asymptotic length than females. Results on the estimated length of fish at first maturity showed that females firstly reached the maturity compared to males. The relative biomass (B/B<sub>0</sub>) estimated for the stock was higher than the relative biomass that produces maximum sustainable yield (B<sub>MSY</sub>/B<sub>0</sub>) indicating healthy biomass. In addition, the length at first sexual maturity was less than the length at the first catch, indicating the absence of overfishing of growth. In addition, extending the study to the various stocks of the reservoir would be important for the sustainable management of the Samandeni high economic fishing area.展开更多
A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than tw...A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than two thousand of A-shares from 2017 to 2020 were selected.The effect of the traditional patent forward citation and the price-citation for discriminating the stock return rate was thoroughly analyzed via ANOVA.The A-shares of forward citation counts above the average showed higher stock return rate means than the A-shares having patents but receiving no forward citations.The price-citation,combining both the financial and patent attributes,defined as the multiplication of the current stock price and the currently receiving forward citation count,showed its excellence in discriminating the stock return rate.The A-shares of higher price-citation showed significantly higher stock return rate means while the A-shares of lower price-citation showed significantly lowest stock return rate means.The price-citation effect had not been changed by COVID-19 though COVID-19 affected the social and economic environment to a considerable extent in 2020.展开更多
Stocks in the Chinese stock market can be divided into ST stocks and normal stocks, so to prevent investors from buying potential ST stocks, this paper first performs SMOTEENN oversampling data preprocessing for the S...Stocks in the Chinese stock market can be divided into ST stocks and normal stocks, so to prevent investors from buying potential ST stocks, this paper first performs SMOTEENN oversampling data preprocessing for the ST stock category, and selects 139 financial indicators and technical factor as predictive features. Then, it combines the Boruta algorithm and Copula entropy method for feature selection, effectively improving the machine learning model’s performance in ST stock classification, with the AUC values of the two models reaching 98% on the test set. In the model selection and optimization, this paper uses six major models, including logistic regression, XGBoost, AdaBoost, LightGBM, Catboost, and MLP, for modeling and optimizes them using the Optuna framework. Ultimately, XGBoost model is selected as the best model because its AUC value exceeds 95% and its running time is less. Finally, the XGBoost model is explained using the SHAP theory and the interaction between features is discovered, further improving the model’s accuracy and AUC value by about 0.6%, verifying the effectiveness of the model.展开更多
The research focuses on improving predictive accuracy in the financial sector through the exploration of machine learning algorithms for stock price prediction. The research follows an organized process combining Agil...The research focuses on improving predictive accuracy in the financial sector through the exploration of machine learning algorithms for stock price prediction. The research follows an organized process combining Agile Scrum and the Obtain, Scrub, Explore, Model, and iNterpret (OSEMN) methodology. Six machine learning models, namely Linear Forecast, Naive Forecast, Simple Moving Average with weekly window (SMA 5), Simple Moving Average with monthly window (SMA 20), Autoregressive Integrated Moving Average (ARIMA), and Long Short-Term Memory (LSTM), are compared and evaluated through Mean Absolute Error (MAE), with the LSTM model performing the best, showcasing its potential for practical financial applications. A Django web application “Predict It” is developed to implement the LSTM model. Ethical concerns related to predictive modeling in finance are addressed. Data quality, algorithm choice, feature engineering, and preprocessing techniques are emphasized for better model performance. The research acknowledges limitations and suggests future research directions, aiming to equip investors and financial professionals with reliable predictive models for dynamic markets.展开更多
This study was conducted to assess the current stock of soil organic carbon under different agricultural land uses, soil types and soil depths in the Noun plain in western Cameroon. Three sites were selected for the s...This study was conducted to assess the current stock of soil organic carbon under different agricultural land uses, soil types and soil depths in the Noun plain in western Cameroon. Three sites were selected for the study, namely Mangoum, Makeka and Fossang, representative of the three dominant soil types of the noun plain (Andosols, Acrisols and Ferralsols). Three land uses were selected per site including natural vegetation, agroforest and crop field. Soil was sampled at three depths;0 - 20 cm, 20 - 40 cm, and 40 - 60 cm. Analysis of variance showed that soil type did not significantly influence carbon storage, but rather land uses and soil depth. SOCS decreased significantly with depth in all the sites, with an average stock of 66.3 ± 15.8 tC/ha at 0 - 20 cm, compared to an average stock of 33.3 ± 7.4 tC/ha at 40 - 60 cm. SOCS was significantly highest in the natural formation with 57.2 ± 19.7 tC/ha, and lowest in cultivated fields, at 37.7 ± 10.6 tC/ha. Andosols, with their high content of coarse fragments, stored less organic carbon than Ferralsols and Acrisols.展开更多
Gabonese’s estuary is an important coastal mangrove setting and soil plays a key role in mangrove carbon storage in mangrove forests. However, the spatial variation in soil organic carbon (SOC) storage remain unclear...Gabonese’s estuary is an important coastal mangrove setting and soil plays a key role in mangrove carbon storage in mangrove forests. However, the spatial variation in soil organic carbon (SOC) storage remain unclear. To address this gap, determining the SOC spatial variation in Gabonese’s estuarine is essential for better understanding the global carbon cycle. The present study compared soil organic carbon between northern and southern sites in different mangrove forest, Rhizophora racemosa and Avicennia germinans. The results showed that the mean SOC stocks at 1 m depth were 256.28 ± 127.29 MgC ha<sup>−</sup><sup>1</sup>. Among the different regions, SOC in northern zone was significantly (p p < 0.001). The deeper layers contained higher SOC stocks (254.62 ± 128.09 MgC ha<sup>−</sup><sup>1</sup>) than upper layers (55.42 ± 25.37 MgC ha<sup>−</sup><sup>1</sup>). The study highlights that low deforestation rate have led to less CO<sub>2</sub> (705.3 Mg CO<sub>2</sub>e ha<sup>−</sup><sup>1</sup> - 922.62 Mg CO<sub>2</sub>e ha<sup>−</sup><sup>1</sup>) emissions than most sediment carbon-rich mangroves in the world. These results highlight the influence of soil texture and mangrove forest types on the mangrove SOC stocks. The first national comparison of soil organic carbon stocks between mangroves and upland tropical forests indicated SOC stocks were two times more in mangroves soils (51.21 ± 45.00 MgC ha<sup>−</sup><sup>1</sup>) than primary (20.33 ± 12.7 MgC ha<sup>−</sup><sup>1</sup>), savanna and cropland (21.71 ± 15.10 MgC ha<sup>−</sup><sup>1</sup>). We find that mangroves in this study emit lower dioxide-carbon equivalent emissions. This study highlights the importance of national inventories of soil organic carbon and can be used as a baseline on the role of mangroves in carbon sequestration and climate change mitigation but the variation in SOC stocks indicates the need for further national data.展开更多
This study utilizes the Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroskedasticity (DCC-GARCH) model to investigate the dynamic relationship between Chinese and U.S. stock markets amid t...This study utilizes the Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroskedasticity (DCC-GARCH) model to investigate the dynamic relationship between Chinese and U.S. stock markets amid the COVID-19 pandemic. Initially, a univariate GARCH model is developed to derive residual sequences, which are then used to estimate the DCC model parameters. The research reveals a significant rise in the interconnection between the Chinese and U.S. stock markets during the pandemic. The S&P 500 index displayed higher sensitivity and greater volatility in response to the pandemic, whereas the CSI 300 index showed superior resilience and stability. Analysis and model estimation suggest that the market’s dependence on historical data has intensified and its sensitivity to recent shocks has heightened. Predictions from the model indicate increased market volatility during the pandemic. While the model is proficient in capturing market trends, there remains potential for enhancing the accuracy of specific volatility predictions. The study proposes recommendations for policymakers and investors, highlighting the importance of improved cooperation in international financial market regulation and investor education.展开更多
The stock market, as one of the hotspots in the financial field, forms a data system with a huge volume of data and complex relationships between various factors, making stock price prediction an area of keen interest...The stock market, as one of the hotspots in the financial field, forms a data system with a huge volume of data and complex relationships between various factors, making stock price prediction an area of keen interest for further in-depth mining and research. Mathematical statistics methods struggle to deal with nonlinear relationships in practical applications, making it difficult to explore deep information about stocks. Meanwhile, machine learning methods, particularly neural network models and composite models, which have achieved outstanding results in other fields, are being applied to the stock market with significant results. However, researchers have found that these methods do not grasp the essential information of the data as well as expected. In response to these issues, researchers are exploring better neural network models and combining them with other methods to analyze stock data. Thus, this paper proposes the ABiGRU composite model, which combines the attention mechanism and bidirectional gated recurrent unit (GRU) that can effectively extract data features for stock price prediction research. Models such as LSTM, GRU, and Bi-LSTM are selected for comparative experiments. To ensure the credibility and representativeness of the research data, daily stock price indices of BYD are chosen for closing price prediction studies across different models. The results show that the ABiGRU model has a lower prediction error and better fitting effect on three index-based stock prices, enhancing the learning efficiency of the neural network model and demonstrating good prediction stability. This suggests that the ABiGRU model is highly adaptable for stock price prediction.展开更多
This study investigated the impact of China’s monetary policy on both the money market and stock markets,assuming that non-policy variables would not respond contemporaneously to changes in policy variables.Monetary ...This study investigated the impact of China’s monetary policy on both the money market and stock markets,assuming that non-policy variables would not respond contemporaneously to changes in policy variables.Monetary policy adjustments are swiftly observed in money markets and gradually extend to the stock market.The study examined the effects of monetary policy shocks using three primary instruments:interest rate policy,reserve requirement ratio,and open market operations.Monthly data from 2007 to 2013 were analyzed using vector error correction(VEC)models.The findings suggest a likely presence of long-lasting and stable relationships among monetary policy,the money market,and stock markets.This research holds practical implications for Chinese policymakers,particularly in managing the challenges associated with fluctuation risks linked to high foreign exchange reserves,aiming to achieve autonomy in monetary policy and formulate effective monetary strategies to stimulate economic growth.展开更多
Previous research in the area of using deep learning algorithms to forecast stock prices was focused on news headlines,company reports,and a mix of daily stock fundamentals,but few studies achieved excellent results.T...Previous research in the area of using deep learning algorithms to forecast stock prices was focused on news headlines,company reports,and a mix of daily stock fundamentals,but few studies achieved excellent results.This study uses a convolutional neural network(CNN)to predict stock prices by considering a great amount of data,consisting of financial news headlines.We call our model N-CNN to distinguish it from a CNN.The main concept is to narrow the diversity of specific stock prices as they are impacted by news headlines,then horizontally expand the news headline data to a higher level for increased reliability.This model solves the problem that the number of news stories produced by a single stock does not meet the standard of previous research.In addition,we then use the number of news headlines for every stock on the China stock exchange as input to predict the probability of the highest next day stock price fluctuations.In the second half of this paper,we compare a traditional Long Short-Term Memory(LSTM)model for daily technical indicators with an LSTM model compensated by the N-CNN model.Experiments show that the final result obtained by the compensation formula can further reduce the root-mean-square error of LSTM.展开更多
基金funded by the National Key Research and Development Program of China(grant number:2017YFD0600404)National Natural Science Foundation of China(grant number:41871278&32071759)forest parameter inversion by integrating LiDAR and multiple angle optical data for the terrestrial ecosystem carbon inventory satellite(2016K-10&YGD-202100105737-006-001).
文摘Forest Stock Volume(FSV)is one of the key indicators in forestry resource investigation and management on local,regional,and national scales.Limited by the saturation problems of optical satellite remote-sensing imagery in the retrieving of stock volume,and the high cost of Light Detection And Ranging(LiDAR)data,it is still challenging to estimate FSV in a large area using single-sensor remote-sensing data.In this paper,a method integrated multispectral satellite imagery and LiDAR data was developed to map stock volume in a large area.A random forest model was adopted to estimate the stock volume of larch forest in China based on the training samples from the Airborne Laser Scanning(ALS)-derived stock volume and corresponding Sentinel-2 imagery.Validation using National Forest Inventory(NFI)data,ALS-derived stock volume and ground investigation data demonstrated that the estimated stock volume had a high accuracy(R2=0.59,RMSE=59.69 m^(3)/ha,MD=39.96 m^(3)/ha when validated with NFI data;R2 ranged from 0.77 to 0.85,RMSE ranged from 38.68 m^(3)/ha to 67.38 m^(3)/ha,MD ranged from 24.90 m^(3)/ha to 37.27 m^(3)/ha when validated with ALS stock volume;R2=0.42,RMSE=79.10 m^(3)/ha,MD=62.06 m^(3)/ha when validated with field investigation data).Results of this paper indicated the applicability of estimating stock volume of larch forest in a large area by combining Sentinel-2 data and airborne LiDAR data.
基金supported by these three foundation programs:the Science and Technology Research Project(Youth)of Chongqing Municipal Education Commission(KJQN202201142)the Chongqing Research Program of Basic Research Frontier Technology(CSTB2022BSXM-JCX0069CCCC)the Training Program of the National Natural Science Foundation of China and National Social Science Fund of China of Chongqing University of Technology(2022PYZ030)。
文摘Stock market is volatile and predicting stock prices is a challenging task.Stock prices are influenced by multiple factors,and prediction using only numerical or image features is ineffective.To solve this problem,we propose a Hybrid Channel Stock model that incorporates multiple features of basic stock data,K-line charts and technical indicator factors for predicting the closing price of a stock on day n+1.The model combines multiple aspects of data and uses a multi-channel structure including improved CNN-TW,bidirectional LSTM and Transformer network.First,we construct the multi-channel branches of the multi-faceted feature fusion input network model;second,in this paper,we will use the concatenate method to stitch the output of each branch as the input of the rest of the network;the last layer in the network is the fully connected layer,which combines the linear activation function regression to output the predicted prices.Finally,we conducted extensive experiments on the Dow 30,SSH 50 and CSI100 indices.The experimental results show that the Hybrid Channel Stock method has the best performance with the smallest MSE,RMSE,MAE and MAPE compared with existing models.in addition,the experiments on different trading days validate the stability and effectiveness of the model,providing an important reference for investors to make stock investment decisions.
基金funded by National Key Research and Development Program(2023YFD220080430&2017YFD0600404)。
文摘Accurate estimations of biomass and its temporal dynamics are crucial for monitoring the carbon cycle in forest ecosystems and assessing forest carbon sequestration potentials.Recent studies have shown that integrating process-based models(PBMs)with remote sensing data can enhance simulations from stand to regional scales,significantly improving the ability to simulate forest growth and carbon stock dynamics.However,the utilization of PBMs for large-scale simulation of larch carbon storage distribution is still limited.In this study,we applied the parameterized 3-PG(Physiological Principles Predicting Growth)model across the Mengjiagang Forest Farm(MFF)to make broad-scale predictions of the biomass and carbon stocks of Larix olgensis plantation.The model was used to simulate average diameter at breast height(DBH)and total biomass,which were later validated with a wide range of observation data including sample plot data,forest management inventory data,and airborne laser scanning data.The results showed that the 3-PG model had relatively high accuracy for predicting both DBH and total biomass at stand and regional scale,with determination coefficients ranging from 0.78 to 0.88.Based on the estimation of total biomass,we successfully produced a carbon stock map of the Larix olgensis plantation in MFF with a spatial resolution of 20 m,which helps with relevant management advice.These findings indicate that the integration of 3-PG model and remote sensing data can well predict the biomass and carbon stock at regional and even larger scales.In addition,this integration facilitates the evaluation of forest carbon sequestration capacity and the development of forest management plans.
基金supported by the Key Research Program of Frontier Sciences,Chinese Academy of Sciences(Grant ZDBS-LY-DQC019)the National Key Research and Development Program of China(2023YFE0124300)+4 种基金the National Natural Science Foundation of China(32301344)Major Program of Institute of Applied EcologyChinese Academy of Sciences(IAEMP202201)supported by grants from the U.S.National Science Foundation(DEB 2240431)the Seeding Projects for Enabling Excellence and Distinction(SPEED)Program at Washington University in St.Louis。
文摘Biodiversity,large trees,and environmental conditions such as climate and soil have important effects on forest carbon stocks.However,recent studies in temperate forests suggest that the relative importance of these factors depends on tree mycorrhizal associations,whereby large-tree effects may be driven by ectomycorrhizal(EM)trees,diversity effects may be driven by arbuscular mycorrhizal(AM)trees,and environment effects may depend on differential climate and soil preferences of AM and EM trees.To test this hypothesis,we used forest-inventory data consisting of over 80,000 trees from 631 temperate-forest plots(30 m×30 m)across Northeast China to examine how biodiversity(species diversity and ecological uniqueness),large trees(top 1%of tree diameters),and environmental factors(climate and soil nutrients)differently regulate aboveground carbon stocks of AM trees,EM trees,and AM and EM trees combined(i.e.total aboveground carbon stock).We found that large trees had a positive effect on both AM and EM tree carbon stocks.However,biodiversity and environmental factors had opposite effects on AM vs.EM tree carbon stocks.Specifically,the two components of biodiversity had positive effects on AM tree carbon stocks,but negative effects on EM tree carbon stocks.Environmental heterogeneity(mean annual temperature and soil nutrients)also exhibited contrasting effects on AM and EM tree carbon stocks.Consequently,for the total carbon stock,the positive large-tree effect far surpasses the diversity and environment effect.This is mainly because when integrating AM and EM tree carbon stock into total carbon stock,the opposite diversity-effect(also environment-effect)on AM vs.EM tree carbon stock counteracts each other while the consistent positive large-tree effect on AM and EM tree carbon stock is amplified.In summary,this study emphasized a mycorrhizal viewpoint to better understand the determinants of overarching aboveground carbon profile across regional forests.
基金funded by the Comision Sectorial de Investigacion Cientifica(CSIC)[ID-501]the Agencia Nacional de Investigacion e Innovacion(ANII)[POS_EXT_2023_1_174913]。
文摘Savannas constitute a mixture of trees and shrub patches with a more continuous herbaceous understory.The contribution of this biome to the soil organic carbon(SOC)and above-ground biomass(AGB)carbon(C)stock globally is significant.However,they are frequently subjected to land use changes,promoting increases in CO_(2) emissions.In Uruguay,subtropical wooded savannas cover around 100,000 ha,of which approximately 28%is circumscribed to sodic soils(i.e.,subtropical halophytic wooded savannas).Nevertheless,there is little background about the contribution of each ecosystem component to the C stock as well as site-specific allometric equations.The study was conducted in 5 ha of subtropical halophytic wooded savannas of the national protected area Esteros y Algarrobales del Rio Uruguay.This work aimed to estimate the contribution of the main ecosystem components(e.g.,soil,trees,shrubs,and herbaceous plants)to the C stock.Site-specific allometric equations for the most frequent tree species and shrub genus were fitted based on basal diameter(BD)and total height(H).The fitted equations accounted for between 77%and 98%of the aerial biomass variance of Netuma affinis and Vachellia caven.For shrubs(Baccharis sp.),the adjusted equation accounted for 86%of total aerial biomass.C stock for the entire system was 116.71±11.07 Mg·ha^(-1),of which 90.7%was allocated in the soil,8.3%in the trees,0.8%in the herbaceous plants,and 0.2%in the shrubs.These results highlight the importance of subtropical halophytic wooded savannas as C sinks and their relevance in the mitigation of global warming under a climate change scenario.
基金the National Natural Science Foundation of China(Grant Nos.32102310,32202484,and 32072520)the Shandong Key Research and Development Program,China(Grant Nos.2021LZGC007 and 2022TZXD009).
文摘Self-rooted apple stock is widely used for apple production.However,the shallowness of the adventitious roots in self-rooted apple stock leads to poor performance in the barren orchards of China.This is because of the considerable difference in the development of a gravitropic set-point angle(GSA)between self-rooted apple stock and seedling rootstock.Therefore,it is crucial to study the molecular mechanism of adventitious root GSA in self-rooted apple stock for breeding self-rooted and deep-rooted apple rootstock cultivars.An apple auxin response factor MdARF19 functioned to establish the adventitious root GSA of self-rooted apple stock in response to gravity and auxin signals.MdARF19 bound directly to the MdPIN7 promoter,activating its transcriptional expression and thus regulating the formation of the adventitious root GSA in 12-2 self-rooted apple stock.However,MdARF19 influenced the expression of auxin efflux carriers(MdPIN3 and MdPIN10)and the establishment of adventitious root GSA of self-rooted apple stock in response to gravity signals by direct activation of MdFLP.Our findings provide new information on the transcriptional regulation of MdPIN7 by auxin response factor MdARF19 in the regulation of the adventitious root GSA of self-rooted apple stock in response to gravity and auxin signals.
基金the financial support from the National Natural Science Foundation of China(Nos.32001139,32071554)。
文摘Soil organic carbon(SOC)affects the function of terrestrial ecosystem and plays a vital role in global carbon cycle.Yet,large uncertainty still existed regarding the changes in SOC stock and quality with forest succession.Here,the stock and quality of SOC at 1-m soil profile were investigated across a subalpine forest series,including shrub,deciduous broad-leaved forest,broadleaf-conifer mixed forest,middle-age coniferous forest and mature coniferous forest,which located at southeast of Tibetan Plateau.The results showed that SOC stock ranged from 9.8 to29.9 kg·m^(-2),and exhibited a hump-shaped response pattern across the forest successional series.The highest and lowest SOC stock was observed in the mixed forest and shrub forest,respectively.The SOC stock had no significant relationships with soil temperature and litter stock,but was positively correlated with wood debris stock.Meanwhile,the average percentages of polysaccharides,lignins,aromatics and aliphatics based on FTIR spectroscopy were 79.89%,0.94%,18.87%and 0.29%,respectively.Furthermore,the percentage of polysaccharides exhibited an increasing pattern across the forest successional series except for the sudden decreasing in the mixed forest,while the proportions of lignins,aromatics and aliphatics exhibited a decreasing pattern across the forest successional series except for the sudden increasing in the mixed forest.Consequently,the humification indices(HIs)were highest in the mixed forest compared to the other four successional stages,which means that the SOC quality in mixed forest was worse than other successional stages.In addition,the SOC stock,recalcitrant fractions and HIs decreased with increasing soil depth,while the polysaccharides exhibited an increasing pattern.These findings demonstrate that the mixed forest had higher SOC stock and worse SOC quality than other successional stages.The high proportion of SOC stock(66%at depth of 20-100 cm)and better SOC quality(lower HIs)indicate that deep soil have tremendous potential to store SOC and needs more attention under global chan ge.
基金funded by the Major Humanities and Social Sciences Research Projects in Zhejiang higher education institutions,grant number 2023QN082,awarded to Cheng ZhaoThe National Natural Science Foundation of China also provided funding,grant number 61902349,awarded to Cheng Zhao.
文摘The present study examines the impact of short-term public opinion sentiment on the secondary market,with a focus on the potential for such sentiment to cause dramatic stock price fluctuations and increase investment risk.The quantification of investment sentiment indicators and the persistent analysis of their impact has been a complex and significant area of research.In this paper,a structured multi-head attention stock index prediction method based adaptive public opinion sentiment vector is proposed.The proposedmethod utilizes an innovative approach to transform numerous investor comments on social platforms over time into public opinion sentiment vectors expressing complex sentiments.It then analyzes the continuous impact of these vectors on the market through the use of aggregating techniques and public opinion data via a structured multi-head attention mechanism.The experimental results demonstrate that the public opinion sentiment vector can provide more comprehensive feedback on market sentiment than traditional sentiment polarity analysis.Furthermore,the multi-head attention mechanism is shown to improve prediction accuracy through attention convergence on each type of input information separately.Themean absolute percentage error(MAPE)of the proposedmethod is 0.463%,a reduction of 0.294% compared to the benchmark attention algorithm.Additionally,the market backtesting results indicate that the return was 24.560%,an improvement of 8.202% compared to the benchmark algorithm.These results suggest that themarket trading strategy based on thismethod has the potential to improve trading profits.
文摘In the middle and later stages of urbanization development,the growth of the real estate industry will stagnate,and urban renewal will become the mainstream.With the advancement of urban renewal,there are still problems in improving the quality of cities in the stock era and their design strategies.This paper analyzed the Linping Old City organic renewal project and the Xishui River ecological governance project in the stock era of urban quality improvement by sorting out the current development status,historical background,planning types,and design strategies of quality improvement in the stock era from the perspective of urban renewal,combining with project overview,main problems,design methods,and design content.Urban renewal is the leading direction for promoting urban development and construction on a global scale,and countries formulate different plans and practices based on their local characteristics.Urban renewal strategies should be diversified,and focus on livable environments,urban characteristics,etc.,while considering human factors,green innovation,etc.,in order to achieve smart community management and enhance the economic and social benefits brought by urban attractiveness.For successful cases such as the Linping Old City and Xishui River ecological governance project,corresponding urban quality improvement strategies and implementation plans should be formulated according to local conditions,with emphasis on social participation and people’s livelihood improvement.This study can help urban planning pay more attention to rational utilization and upgrading of existing urban resources,adapt to the current urban development situation,and promote sustainable urban development.
文摘We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.
文摘Mango tilapia, Sarotherodon galilaeus is one of the most caught fish species in the Samandeni multi-species fishing sites of which, few data on its biology and exploitation are available. The study aimed to Assess the stock status of S. galilaeus. Sampling was conducted from March, 2021 to February 2022 based on commercial fish catches to analyze growth parameters, first sexual maturity size and harvest status of the stock. A total of 572 specimens including 297 females and 275 males were examined. The stock assessment was performed by using the Length based Bayesian method of Biomass (LBB) and that of growth by the ELEFAN method. The growth parameters showed a seasonality of growth and females appeared to grow faster than males. On the other hand, males had a greater asymptotic length than females. Results on the estimated length of fish at first maturity showed that females firstly reached the maturity compared to males. The relative biomass (B/B<sub>0</sub>) estimated for the stock was higher than the relative biomass that produces maximum sustainable yield (B<sub>MSY</sub>/B<sub>0</sub>) indicating healthy biomass. In addition, the length at first sexual maturity was less than the length at the first catch, indicating the absence of overfishing of growth. In addition, extending the study to the various stocks of the reservoir would be important for the sustainable management of the Samandeni high economic fishing area.
基金support from Ministry of Science and Technology,Taiwan,R.O.C.under Grant No.MOST 109-2410-H-011-021-MY3.
文摘A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than two thousand of A-shares from 2017 to 2020 were selected.The effect of the traditional patent forward citation and the price-citation for discriminating the stock return rate was thoroughly analyzed via ANOVA.The A-shares of forward citation counts above the average showed higher stock return rate means than the A-shares having patents but receiving no forward citations.The price-citation,combining both the financial and patent attributes,defined as the multiplication of the current stock price and the currently receiving forward citation count,showed its excellence in discriminating the stock return rate.The A-shares of higher price-citation showed significantly higher stock return rate means while the A-shares of lower price-citation showed significantly lowest stock return rate means.The price-citation effect had not been changed by COVID-19 though COVID-19 affected the social and economic environment to a considerable extent in 2020.
文摘Stocks in the Chinese stock market can be divided into ST stocks and normal stocks, so to prevent investors from buying potential ST stocks, this paper first performs SMOTEENN oversampling data preprocessing for the ST stock category, and selects 139 financial indicators and technical factor as predictive features. Then, it combines the Boruta algorithm and Copula entropy method for feature selection, effectively improving the machine learning model’s performance in ST stock classification, with the AUC values of the two models reaching 98% on the test set. In the model selection and optimization, this paper uses six major models, including logistic regression, XGBoost, AdaBoost, LightGBM, Catboost, and MLP, for modeling and optimizes them using the Optuna framework. Ultimately, XGBoost model is selected as the best model because its AUC value exceeds 95% and its running time is less. Finally, the XGBoost model is explained using the SHAP theory and the interaction between features is discovered, further improving the model’s accuracy and AUC value by about 0.6%, verifying the effectiveness of the model.
文摘The research focuses on improving predictive accuracy in the financial sector through the exploration of machine learning algorithms for stock price prediction. The research follows an organized process combining Agile Scrum and the Obtain, Scrub, Explore, Model, and iNterpret (OSEMN) methodology. Six machine learning models, namely Linear Forecast, Naive Forecast, Simple Moving Average with weekly window (SMA 5), Simple Moving Average with monthly window (SMA 20), Autoregressive Integrated Moving Average (ARIMA), and Long Short-Term Memory (LSTM), are compared and evaluated through Mean Absolute Error (MAE), with the LSTM model performing the best, showcasing its potential for practical financial applications. A Django web application “Predict It” is developed to implement the LSTM model. Ethical concerns related to predictive modeling in finance are addressed. Data quality, algorithm choice, feature engineering, and preprocessing techniques are emphasized for better model performance. The research acknowledges limitations and suggests future research directions, aiming to equip investors and financial professionals with reliable predictive models for dynamic markets.
文摘This study was conducted to assess the current stock of soil organic carbon under different agricultural land uses, soil types and soil depths in the Noun plain in western Cameroon. Three sites were selected for the study, namely Mangoum, Makeka and Fossang, representative of the three dominant soil types of the noun plain (Andosols, Acrisols and Ferralsols). Three land uses were selected per site including natural vegetation, agroforest and crop field. Soil was sampled at three depths;0 - 20 cm, 20 - 40 cm, and 40 - 60 cm. Analysis of variance showed that soil type did not significantly influence carbon storage, but rather land uses and soil depth. SOCS decreased significantly with depth in all the sites, with an average stock of 66.3 ± 15.8 tC/ha at 0 - 20 cm, compared to an average stock of 33.3 ± 7.4 tC/ha at 40 - 60 cm. SOCS was significantly highest in the natural formation with 57.2 ± 19.7 tC/ha, and lowest in cultivated fields, at 37.7 ± 10.6 tC/ha. Andosols, with their high content of coarse fragments, stored less organic carbon than Ferralsols and Acrisols.
文摘Gabonese’s estuary is an important coastal mangrove setting and soil plays a key role in mangrove carbon storage in mangrove forests. However, the spatial variation in soil organic carbon (SOC) storage remain unclear. To address this gap, determining the SOC spatial variation in Gabonese’s estuarine is essential for better understanding the global carbon cycle. The present study compared soil organic carbon between northern and southern sites in different mangrove forest, Rhizophora racemosa and Avicennia germinans. The results showed that the mean SOC stocks at 1 m depth were 256.28 ± 127.29 MgC ha<sup>−</sup><sup>1</sup>. Among the different regions, SOC in northern zone was significantly (p p < 0.001). The deeper layers contained higher SOC stocks (254.62 ± 128.09 MgC ha<sup>−</sup><sup>1</sup>) than upper layers (55.42 ± 25.37 MgC ha<sup>−</sup><sup>1</sup>). The study highlights that low deforestation rate have led to less CO<sub>2</sub> (705.3 Mg CO<sub>2</sub>e ha<sup>−</sup><sup>1</sup> - 922.62 Mg CO<sub>2</sub>e ha<sup>−</sup><sup>1</sup>) emissions than most sediment carbon-rich mangroves in the world. These results highlight the influence of soil texture and mangrove forest types on the mangrove SOC stocks. The first national comparison of soil organic carbon stocks between mangroves and upland tropical forests indicated SOC stocks were two times more in mangroves soils (51.21 ± 45.00 MgC ha<sup>−</sup><sup>1</sup>) than primary (20.33 ± 12.7 MgC ha<sup>−</sup><sup>1</sup>), savanna and cropland (21.71 ± 15.10 MgC ha<sup>−</sup><sup>1</sup>). We find that mangroves in this study emit lower dioxide-carbon equivalent emissions. This study highlights the importance of national inventories of soil organic carbon and can be used as a baseline on the role of mangroves in carbon sequestration and climate change mitigation but the variation in SOC stocks indicates the need for further national data.
文摘This study utilizes the Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroskedasticity (DCC-GARCH) model to investigate the dynamic relationship between Chinese and U.S. stock markets amid the COVID-19 pandemic. Initially, a univariate GARCH model is developed to derive residual sequences, which are then used to estimate the DCC model parameters. The research reveals a significant rise in the interconnection between the Chinese and U.S. stock markets during the pandemic. The S&P 500 index displayed higher sensitivity and greater volatility in response to the pandemic, whereas the CSI 300 index showed superior resilience and stability. Analysis and model estimation suggest that the market’s dependence on historical data has intensified and its sensitivity to recent shocks has heightened. Predictions from the model indicate increased market volatility during the pandemic. While the model is proficient in capturing market trends, there remains potential for enhancing the accuracy of specific volatility predictions. The study proposes recommendations for policymakers and investors, highlighting the importance of improved cooperation in international financial market regulation and investor education.
文摘The stock market, as one of the hotspots in the financial field, forms a data system with a huge volume of data and complex relationships between various factors, making stock price prediction an area of keen interest for further in-depth mining and research. Mathematical statistics methods struggle to deal with nonlinear relationships in practical applications, making it difficult to explore deep information about stocks. Meanwhile, machine learning methods, particularly neural network models and composite models, which have achieved outstanding results in other fields, are being applied to the stock market with significant results. However, researchers have found that these methods do not grasp the essential information of the data as well as expected. In response to these issues, researchers are exploring better neural network models and combining them with other methods to analyze stock data. Thus, this paper proposes the ABiGRU composite model, which combines the attention mechanism and bidirectional gated recurrent unit (GRU) that can effectively extract data features for stock price prediction research. Models such as LSTM, GRU, and Bi-LSTM are selected for comparative experiments. To ensure the credibility and representativeness of the research data, daily stock price indices of BYD are chosen for closing price prediction studies across different models. The results show that the ABiGRU model has a lower prediction error and better fitting effect on three index-based stock prices, enhancing the learning efficiency of the neural network model and demonstrating good prediction stability. This suggests that the ABiGRU model is highly adaptable for stock price prediction.
文摘This study investigated the impact of China’s monetary policy on both the money market and stock markets,assuming that non-policy variables would not respond contemporaneously to changes in policy variables.Monetary policy adjustments are swiftly observed in money markets and gradually extend to the stock market.The study examined the effects of monetary policy shocks using three primary instruments:interest rate policy,reserve requirement ratio,and open market operations.Monthly data from 2007 to 2013 were analyzed using vector error correction(VEC)models.The findings suggest a likely presence of long-lasting and stable relationships among monetary policy,the money market,and stock markets.This research holds practical implications for Chinese policymakers,particularly in managing the challenges associated with fluctuation risks linked to high foreign exchange reserves,aiming to achieve autonomy in monetary policy and formulate effective monetary strategies to stimulate economic growth.
基金This work was supported by the Natural Science Foundation of China(61572160).
文摘Previous research in the area of using deep learning algorithms to forecast stock prices was focused on news headlines,company reports,and a mix of daily stock fundamentals,but few studies achieved excellent results.This study uses a convolutional neural network(CNN)to predict stock prices by considering a great amount of data,consisting of financial news headlines.We call our model N-CNN to distinguish it from a CNN.The main concept is to narrow the diversity of specific stock prices as they are impacted by news headlines,then horizontally expand the news headline data to a higher level for increased reliability.This model solves the problem that the number of news stories produced by a single stock does not meet the standard of previous research.In addition,we then use the number of news headlines for every stock on the China stock exchange as input to predict the probability of the highest next day stock price fluctuations.In the second half of this paper,we compare a traditional Long Short-Term Memory(LSTM)model for daily technical indicators with an LSTM model compensated by the N-CNN model.Experiments show that the final result obtained by the compensation formula can further reduce the root-mean-square error of LSTM.