Systemic risk management and investment analysis with financial network analytics:research opportunities and challenges

Recent economic crises like the 2008 financial tsunami has demonstrated a critical need for better understanding of the topologies and various economic,social,and technical mechanisms of the increasingly interconnected global financial system.Such a system largely relies on the interconnectedness of various financial entities such as banks,firms,and investors through complex financial relationships such as interbank payment networks,investment relations,or supply chains.A network-based perspective or approach is needed to study various financial networks in order to improve or extend financial theories,as well as develop business applications.Moreover,with the advance of big data related technologies,and the availability of huge amounts of financial and economic network data,advanced computing technologies and data analytics that can comprehend such big data are also needed.We referred this approach as financial network analytics.We suggest that it will enable stakeholders better understand the network dynamics within the interconnected global financial system and help designing financial policies such as managing and monitoring banking systemic risk,as well as developing intelligent business applications like banking advisory systems.In this paper,we review the existing research about financial network analytics and then discuss its main research challenges from the economic,social,and technological perspectives.

NONUNIQUENESS AND SINGULAR RADIAL SOLUTIONS OF SYSTEMS OF CONSERVATION LAWS

The case of a radial initial state for a family of hyperbolic systems of con- servation laws with several spatial dimensions is considered. It will be shown that the singularity at the origin introduces multiple solutions outside of the traditional admissible classes.

Assessing Water Availability and Unmet Water Demand Using the WEAP Model in the Semi-Arid Bweengwa, Kasaka and Magoye Sub-Catchments of Southern Zambia

Located in the semi-arid zone of Zambia, the Mutama-Bweengwa, Kasaka and Magoye sub-catchments have witnessed a high demand for water due to increase in population and socio-economic activities putting more pressure on water resources. This study assesses the hydrological components and ascertains the available water resources and unmet demand in the sub-catchments using the Water Evaluation And Planning (WEAP) Model and hydrometeorological data collected between 1951 and 2018. The model was calibrated and validated on 1971-1981 and 2008-2018 data respectively. The results reveal that the sub-catchments have transitioned from positive to negative water balance with -164.295 Mm3/year for Mutama-Bweengwa, -19.021 Mm3/year for Kasaka and -86.368 Mm3/year for Magoye. Evaporation was 1815.259 Mm3/year for Mutama-Bweengwa, 1162.655 Mm3/year for Kasaka and 1505.664 Mm3/year for Magoye. The demand for water has been increasing over time for various purposes such as irrigation, domestic, urban/rural water supply and livestock. The overall water storage in the sub-catchments showed a negative water balance for the year 2018. The observed and simulated peak streamflow were 8.16 m3/s and 7.7 m3/s occurring during the month of January and February respectively. The WEAP model performance achieved R2 of 0.98 during calibration and 0.95 for validation, and an NSE of 0.83 for calibration and 0.85 during validation. The values of objective functions show that the hydrology of the Mutama-Bweengwa, Kasaka and Magoye sub-catchments as predicted by the WEAP model provides satisfactory confidence for prediction of future streamflow and hence projection based on future scenarios.

Influence of Wires Properties on Warp-Knitted Loop Geometry in Plane Based on Theory of Elastic Rod

Based on classic theory of elastic rod,the warp-knitted loop geometry in plane is independent of yarn properties,while there is a certain gap between the geometrical model and the actual fabrics.According to this problem,further analysis of loop geometry is done based on the theory of elastic rod with theoretical calculation and experiments.The theoretical analysis found that the distance between the contacted points at the loop root affected the loop geometry,and the distance was affected by the ratio of bending rigidity and the friction between yarns.The experiments,forming simple loop by taking the yarn as an elastic rod,found that the bending rigidity affected the loop geometry.Then the relationships between warp-knitted loop geometry in plane of metallic fabrics and wires properties were studied.The results show that metallic fabrics are more suitable for the theory of elastic rod;the friction and bending rigidity of wire yarns affect the loop geometry in plane.Also,the elongation of yarn affects the loop geometry in the actual warp-knitted fabric.

Traceability in Acceptance Testing

Regardless of which (model-centric or code-centric) development process is adopted, industrial software production ultimately and necessarily requires the delivery of an executable implementation. It is generally accepted that the quality of such an implementation is of utmost importance. Yet current verification techniques, including software testing, remain problematic. In this paper, we focus on acceptance testing, that is, on the validation of the actual behavior of the implementation under test against the requirements of stakeholder(s). This task must be as objective and automated as possible. Our first goal is to review existing code-based and model-based tools for testing in light of what such an objective and automated approach to acceptance testing entails. Our contention is that the difficulties we identify originate mainly in a lack of traceability between a testable model of the requirements of the stakeholder(s) and the test cases used to validate these requirements. We then investigate whether such traceability is addressed in other relevant specification-based approaches.

Comparison of Entrepreneurship Environment for Executives between State-owned and Private Enterprises in China

This research aims at exploring the differences in the effects of environment on entrepreneurship growth between state-owned enterprises and private businesses. Through executive investigation, reasons are provided for better performance of private businesses. Environmental factors, including economic, legal, technological, cultural and social factors, which influence entrepreneurship growth, are examined to determine differences between state-owned enterprise and private business executives. It is found that the methods of executive assignment to managerial posts determine executives＇ effort towards entrepreneurship.