University of Reading

Displaying 1-26 of 26 results

  • White Papers // Jul 2011

    Which Market Drives Credit Spreads In Tranquil And Crisis Periods? An Analysis Of The Contribution To Price Discovery Of Bonds, CDs, Stocks And Options

    Credit spreads can be derived from the prices of securities traded in different markets. In this paper, the authors investigate the price discovery process in single-name credit spreads obtained from bonds, credit default swaps, equities and equity options. Using a Vector Error Correction Model (VECM) of changes in credit spreads...

    Provided By University of Reading

  • White Papers // Jan 2011

    Liquidity Risk, Credit Risk, Market Risk And Bank Capital

    With a sample of twelve US bond indices spanning different maturities, credit ratings and industry sectors, the authors investigate the impact of new bank capital regulation for trading portfolios introduced by Basel III. Specifically, they estimate the new capital requirements for liquidity risk and credit risk through the so called...

    Provided By University of Reading

  • White Papers // Jan 2011

    Computing the Break-Even Point in Supply Chain Management

    Materials can be purchased either in Economic Order Quantity (EOQ) fashion or Just-In-time (JIT) fashion. When all the companies purchase their materials in JIT fashion from its up-stream material suppliers, a supply chain is formed. The decision as to whether or not to switch from EOQ to JIT for purchasing...

    Provided By University of Reading

  • White Papers // Dec 2010

    The Adoption of Benchmarking Principles for Project Management Performance Improvement

    Effective management of projects is increasingly becoming important for organisations to remain competitive in today's dynamic business environment. The use of benchmarking is widening as a technique for supporting project management. Benchmarking is the search of best practices that will lead to superior performance in some business activity. Benchmarking has...

    Provided By University of Reading

  • White Papers // Nov 2010

    Xtreme Application: A User Interface System for Home Appliances With Cellular Phones

    In this paper, the authors implemented the Home Automation System for controlling and monitoring the devices directly from computer screen or from a cell phone for having complete, on-command or pre-programmed control of nearly any electronic or mechanical devices in the home, school, college and especially in the industry. This...

    Provided By University of Reading

  • White Papers // Sep 2010

    Relationship Hierarchies And Behavioural Effects: Understanding Key Relationship Variables In Interaction

    This paper presents the results of a qualitative exploratory study which demonstrates that a buyer's personal motivation to build a relationship with a supplier is represented as a function of cognitive, affective, and behavioural components. Proposing value as an output based measure of supplier-buyer relationships the authors present a multi-echelon...

    Provided By University of Reading

  • White Papers // May 2010

    Artificial Neural Network Based Web Application Firewall for SQL Injection

    In recent years with the rapid development of Internet and the Web, more and more web applications have been deployed in many fields and organizations such as finance, military, and government. Together with that, hackers have found more subtle ways to attack web applications. According to international statistics, SQL Injection...

    Provided By University of Reading

  • White Papers // May 2010

    The Assessment of Benchmarks Executed on Bare-?Metal and Using Para-? Virtualization

    A full assessment of para-virtualization is important, because without knowledge about the various overheads, users can not understand whether using virtualization is a good idea or not. In this paper the authors are very interested in assessing the overheads of running various benchmarks on bare-metal, as well as on para-virtualization....

    Provided By University of Reading

  • White Papers // Apr 2010

    Income Multiples And Mortgage Repossession In The UK

    This paper presents the findings of the study that examines how income multiples for mortgage loan associates with home repossession using the data of the Council of Mortgage Lenders (CML). It employs a statistical measure for improving regression efficiency with conditioning information in the form of lagged instrument to unravel...

    Provided By University of Reading

  • White Papers // Mar 2010

    Construction of Radial Basis Function Networks With Diversified Topologies

    In this paper, the authors bring together some of their recent work from the angle of the diversified RBF topologies, including three different topologies; the RBF network with tunable nodes; the Box-Cox output transformation based RBF network (Box-Cox RBF); and the RBF network with boundary value constraints (BVC-RBF). They show...

    Provided By University of Reading

  • White Papers // Dec 2009

    Data Management for the Ocean Sciences - The Next Decade

    With the advent of the internet, our expectations for scientific data management have grown vastly. Today, we find remarkable agreement towards the prospects of immensely improving ocean data management, benefits of which will be shared by the society when ocean researches will be conducted in the future. While talking about...

    Provided By University of Reading

  • White Papers // Nov 2009

    The Relationship Between Risk, Capital And Efficiency: Evidence From Japanese Cooperative Banks

    The risk-capital positions of Japanese banks have been under tension throughout the 1990s. However, existing theory on the determinants of bank risk-taking still remains limited and the evidence is conflicting. Most studies concentrate on US and European banks, while empirical evidence has remained scarce for Asian banks. Added to that,...

    Provided By University of Reading

  • White Papers // Oct 2009

    Optimal Investment Strategies And Performance Sharing Rules For Pension Schemes With Minimum Guarantee

    There is a potential conflict of interest between a pension fund sponsor and future pensioners when they share unequally in the pension fund performance. Thus, when a scheme offers a yearly guaranteed minimum return to pensioners, as is presently the case with German Pensionskassen, the sponsors cannot afford to invest...

    Provided By University of Reading

  • White Papers // Oct 2009

    The Institutional Sources Of Innovation In Korean And UK Online Gaming Firms

    This paper examines the institutional sources of innovation, with reference to the role of institutions in generating creativity within knowledge-intensive entertainment industry. Despite growing importance of innovation in the knowledge industry, including interactive games, the 'Informal' source of innovation has attracted relatively little attention. The authors have attempted to fill...

    Provided By University of Reading

  • White Papers // Sep 2009

    Real Estate Investment In Global Financial Centers: Risk, Return And Contagion

    Global financial activity is heavily concentrated in a small number of world cities - international financial centers. The office markets in those cities receive significant flows of investment capital. The growing specialization of activity in IFCs and innovations in real estate investment vehicles lock developer, occupier, investment, and finance markets...

    Provided By University of Reading

  • White Papers // Jul 2009

    Applying Autonomic Computing Concepts to Parallel Computing Using Intelligent Agents

    The work reported in this paper is motivated by the fact that there is a need to apply autonomic computing concepts to parallel computing systems. Advancing on prior work based on intelligent cores, a swarm-array computing approach, this paper focuses on 'Intelligent agents' another swarm-array computing approach in which the...

    Provided By University of Reading

  • White Papers // Jul 2009

    The Value Of Introducing Structural Reform To Improve Bond Market Liquidity: Experience From The U.K. Gilt Market

    The importance of maintaining sufficient liquidity in financial markets is emphasized strongly in the academic literature. During the 1990s the United Kingdom monetary authorities introduced a number of structural reforms in the government bond market, aimed at improving secondary market liquidity. In this paper the authors examine the impact of...

    Provided By University of Reading

  • White Papers // Jun 2009

    Means, Motive And Opportunity? Disentangling Client Influence On Performance Measurement Appraisals

    This paper investigates the extent to which clients were able to influence performance measurement appraisals during the downturn in commercial property markets that began in the UK during the second half of 2007. The sharp change in market sentiment produced speculation that different client categories were attempting to influence their...

    Provided By University of Reading

  • White Papers // Jun 2009

    Analytic Approximations For Multi-Asset Option Pricing

    The authors derive a general analytic approximation for pricing basket options on N assets, which is extended to analytic approximations for pricing general rainbow options, including best-of and worst-of N asset options. The key idea is to express the option's price as a sum of prices of various compound exchange...

    Provided By University of Reading

  • White Papers // Jun 2009

    Meshfree Approximation For Multi-Asset Options

    The authors price multi-asset options by solving their price partial differential equations using a meshfree approach with radial basis functions under jump-diffusion and geometric Brownian motion frameworks. In the geometric Brownian motion framework, they propose an effective technique that breaks the multi-dimensional problem to multiple 3D problems. They solve the...

    Provided By University of Reading

  • White Papers // Jun 2009

    Globalisation: Countries, Cities And Multinationals

    In this paper, the authors explore the relationship between the size of a country, the size of its cities, and the economic performance of the country. In order to do this they integrate three different literature, namely the literature on optimal country size, literature on historical processes of urbanisation and...

    Provided By University of Reading

  • White Papers // Mar 2009

    Sales And Advertising Rivalry In Interwar US Department Stores

    Department stores represented one of the most advertising-intensive sectors of American inter-war retailing. Yet it has been argued that a competitive spiral of high advertising spending, to match the challenge of other local department stores, contributed to a damaging inflation of costs that eroded long-term competitiveness. The authors test these...

    Provided By University of Reading

  • White Papers // Feb 2009

    Style Analysis In Real Estate Markets: Beyond The Sectors And Regions Dichotomy

    While style analysis has been studied extensively in equity markets, applications of this valuable tool for measuring and benchmarking performance and risk in a real estate context are still relatively new. Previous studies in the real estate market have identified three investment categories (rather than styles): Sectors, administrative regions and...

    Provided By University of Reading

  • White Papers // May 2000

    Evidence of Cycles in European Commercial Real Estate Markets and Some Hypotheses

    This paper seeks to achieve four objectives. First, it provides some contextual material concerning the performance of the UK real estate market relative to stocks and bonds over a long period. Second, it provides UK ? and some non-UK European - evidence of the tendency for property demand, supply, prices,...

    Provided By University of Reading

  • White Papers // May 2000

    The Causes and Effects of Depreciation in Office Buildings: A Ten Year Update

    This paper publishes the results of a 1996 study, which repeats a cross-section analysis of around 125 City of London office buildings, and examines the longitudinal data contributed by a sample of 56 un-refurbished properties common to the 1986 and 1996 City of London datasets. An estimate of the average...

    Provided By University of Reading

  • White Papers // Feb 2000

    Property Fund Flows and Returns

    This study is concerned with the impacts on property returns from property fund flows, and with the possibility of a reverse transmission from property fund flows to property returns. In other words this study investigates whether property returns "cause" fund flow changes, or whether fund flow changes "cause" property returns,...

    Provided By University of Reading

  • White Papers // Feb 2000

    Property Fund Flows and Returns

    This study is concerned with the impacts on property returns from property fund flows, and with the possibility of a reverse transmission from property fund flows to property returns. In other words this study investigates whether property returns "cause" fund flow changes, or whether fund flow changes "cause" property returns,...

    Provided By University of Reading

  • White Papers // May 2000

    Evidence of Cycles in European Commercial Real Estate Markets and Some Hypotheses

    This paper seeks to achieve four objectives. First, it provides some contextual material concerning the performance of the UK real estate market relative to stocks and bonds over a long period. Second, it provides UK ? and some non-UK European - evidence of the tendency for property demand, supply, prices,...

    Provided By University of Reading

  • White Papers // May 2000

    The Causes and Effects of Depreciation in Office Buildings: A Ten Year Update

    This paper publishes the results of a 1996 study, which repeats a cross-section analysis of around 125 City of London office buildings, and examines the longitudinal data contributed by a sample of 56 un-refurbished properties common to the 1986 and 1996 City of London datasets. An estimate of the average...

    Provided By University of Reading

  • White Papers // Dec 2009

    Data Management for the Ocean Sciences - The Next Decade

    With the advent of the internet, our expectations for scientific data management have grown vastly. Today, we find remarkable agreement towards the prospects of immensely improving ocean data management, benefits of which will be shared by the society when ocean researches will be conducted in the future. While talking about...

    Provided By University of Reading

  • White Papers // May 2010

    The Assessment of Benchmarks Executed on Bare-?Metal and Using Para-? Virtualization

    A full assessment of para-virtualization is important, because without knowledge about the various overheads, users can not understand whether using virtualization is a good idea or not. In this paper the authors are very interested in assessing the overheads of running various benchmarks on bare-metal, as well as on para-virtualization....

    Provided By University of Reading

  • White Papers // Jan 2011

    Computing the Break-Even Point in Supply Chain Management

    Materials can be purchased either in Economic Order Quantity (EOQ) fashion or Just-In-time (JIT) fashion. When all the companies purchase their materials in JIT fashion from its up-stream material suppliers, a supply chain is formed. The decision as to whether or not to switch from EOQ to JIT for purchasing...

    Provided By University of Reading

  • White Papers // Jul 2009

    The Value Of Introducing Structural Reform To Improve Bond Market Liquidity: Experience From The U.K. Gilt Market

    The importance of maintaining sufficient liquidity in financial markets is emphasized strongly in the academic literature. During the 1990s the United Kingdom monetary authorities introduced a number of structural reforms in the government bond market, aimed at improving secondary market liquidity. In this paper the authors examine the impact of...

    Provided By University of Reading

  • White Papers // May 2010

    Artificial Neural Network Based Web Application Firewall for SQL Injection

    In recent years with the rapid development of Internet and the Web, more and more web applications have been deployed in many fields and organizations such as finance, military, and government. Together with that, hackers have found more subtle ways to attack web applications. According to international statistics, SQL Injection...

    Provided By University of Reading

  • White Papers // Dec 2010

    The Adoption of Benchmarking Principles for Project Management Performance Improvement

    Effective management of projects is increasingly becoming important for organisations to remain competitive in today's dynamic business environment. The use of benchmarking is widening as a technique for supporting project management. Benchmarking is the search of best practices that will lead to superior performance in some business activity. Benchmarking has...

    Provided By University of Reading

  • White Papers // Oct 2009

    Optimal Investment Strategies And Performance Sharing Rules For Pension Schemes With Minimum Guarantee

    There is a potential conflict of interest between a pension fund sponsor and future pensioners when they share unequally in the pension fund performance. Thus, when a scheme offers a yearly guaranteed minimum return to pensioners, as is presently the case with German Pensionskassen, the sponsors cannot afford to invest...

    Provided By University of Reading

  • White Papers // Jun 2009

    Analytic Approximations For Multi-Asset Option Pricing

    The authors derive a general analytic approximation for pricing basket options on N assets, which is extended to analytic approximations for pricing general rainbow options, including best-of and worst-of N asset options. The key idea is to express the option's price as a sum of prices of various compound exchange...

    Provided By University of Reading

  • White Papers // Nov 2009

    The Relationship Between Risk, Capital And Efficiency: Evidence From Japanese Cooperative Banks

    The risk-capital positions of Japanese banks have been under tension throughout the 1990s. However, existing theory on the determinants of bank risk-taking still remains limited and the evidence is conflicting. Most studies concentrate on US and European banks, while empirical evidence has remained scarce for Asian banks. Added to that,...

    Provided By University of Reading

  • White Papers // Jun 2009

    Meshfree Approximation For Multi-Asset Options

    The authors price multi-asset options by solving their price partial differential equations using a meshfree approach with radial basis functions under jump-diffusion and geometric Brownian motion frameworks. In the geometric Brownian motion framework, they propose an effective technique that breaks the multi-dimensional problem to multiple 3D problems. They solve the...

    Provided By University of Reading

  • White Papers // Oct 2009

    The Institutional Sources Of Innovation In Korean And UK Online Gaming Firms

    This paper examines the institutional sources of innovation, with reference to the role of institutions in generating creativity within knowledge-intensive entertainment industry. Despite growing importance of innovation in the knowledge industry, including interactive games, the 'Informal' source of innovation has attracted relatively little attention. The authors have attempted to fill...

    Provided By University of Reading

  • White Papers // Sep 2009

    Real Estate Investment In Global Financial Centers: Risk, Return And Contagion

    Global financial activity is heavily concentrated in a small number of world cities - international financial centers. The office markets in those cities receive significant flows of investment capital. The growing specialization of activity in IFCs and innovations in real estate investment vehicles lock developer, occupier, investment, and finance markets...

    Provided By University of Reading

  • White Papers // Feb 2009

    Style Analysis In Real Estate Markets: Beyond The Sectors And Regions Dichotomy

    While style analysis has been studied extensively in equity markets, applications of this valuable tool for measuring and benchmarking performance and risk in a real estate context are still relatively new. Previous studies in the real estate market have identified three investment categories (rather than styles): Sectors, administrative regions and...

    Provided By University of Reading

  • White Papers // Apr 2010

    Income Multiples And Mortgage Repossession In The UK

    This paper presents the findings of the study that examines how income multiples for mortgage loan associates with home repossession using the data of the Council of Mortgage Lenders (CML). It employs a statistical measure for improving regression efficiency with conditioning information in the form of lagged instrument to unravel...

    Provided By University of Reading

  • White Papers // Jun 2009

    Means, Motive And Opportunity? Disentangling Client Influence On Performance Measurement Appraisals

    This paper investigates the extent to which clients were able to influence performance measurement appraisals during the downturn in commercial property markets that began in the UK during the second half of 2007. The sharp change in market sentiment produced speculation that different client categories were attempting to influence their...

    Provided By University of Reading

  • White Papers // Sep 2010

    Relationship Hierarchies And Behavioural Effects: Understanding Key Relationship Variables In Interaction

    This paper presents the results of a qualitative exploratory study which demonstrates that a buyer's personal motivation to build a relationship with a supplier is represented as a function of cognitive, affective, and behavioural components. Proposing value as an output based measure of supplier-buyer relationships the authors present a multi-echelon...

    Provided By University of Reading

  • White Papers // Jul 2009

    Applying Autonomic Computing Concepts to Parallel Computing Using Intelligent Agents

    The work reported in this paper is motivated by the fact that there is a need to apply autonomic computing concepts to parallel computing systems. Advancing on prior work based on intelligent cores, a swarm-array computing approach, this paper focuses on 'Intelligent agents' another swarm-array computing approach in which the...

    Provided By University of Reading

  • White Papers // Jun 2009

    Globalisation: Countries, Cities And Multinationals

    In this paper, the authors explore the relationship between the size of a country, the size of its cities, and the economic performance of the country. In order to do this they integrate three different literature, namely the literature on optimal country size, literature on historical processes of urbanisation and...

    Provided By University of Reading

  • White Papers // Jul 2011

    Which Market Drives Credit Spreads In Tranquil And Crisis Periods? An Analysis Of The Contribution To Price Discovery Of Bonds, CDs, Stocks And Options

    Credit spreads can be derived from the prices of securities traded in different markets. In this paper, the authors investigate the price discovery process in single-name credit spreads obtained from bonds, credit default swaps, equities and equity options. Using a Vector Error Correction Model (VECM) of changes in credit spreads...

    Provided By University of Reading

  • White Papers // Jan 2011

    Liquidity Risk, Credit Risk, Market Risk And Bank Capital

    With a sample of twelve US bond indices spanning different maturities, credit ratings and industry sectors, the authors investigate the impact of new bank capital regulation for trading portfolios introduced by Basel III. Specifically, they estimate the new capital requirements for liquidity risk and credit risk through the so called...

    Provided By University of Reading

  • White Papers // Mar 2009

    Sales And Advertising Rivalry In Interwar US Department Stores

    Department stores represented one of the most advertising-intensive sectors of American inter-war retailing. Yet it has been argued that a competitive spiral of high advertising spending, to match the challenge of other local department stores, contributed to a damaging inflation of costs that eroded long-term competitiveness. The authors test these...

    Provided By University of Reading

  • White Papers // Nov 2010

    Xtreme Application: A User Interface System for Home Appliances With Cellular Phones

    In this paper, the authors implemented the Home Automation System for controlling and monitoring the devices directly from computer screen or from a cell phone for having complete, on-command or pre-programmed control of nearly any electronic or mechanical devices in the home, school, college and especially in the industry. This...

    Provided By University of Reading

  • White Papers // Mar 2010

    Construction of Radial Basis Function Networks With Diversified Topologies

    In this paper, the authors bring together some of their recent work from the angle of the diversified RBF topologies, including three different topologies; the RBF network with tunable nodes; the Box-Cox output transformation based RBF network (Box-Cox RBF); and the RBF network with boundary value constraints (BVC-RBF). They show...

    Provided By University of Reading