published_or_final_version / Physiology / Master / Master of Philosophy

published_or_final_version / Mechanical Engineering / Master / Master of Philosophy

This paper investigates both the information contents of recommendations disseminated by foreign security firms and the interaction of foreign security firms’ trading activities with their recommendations in Taiwan’s stock market. Using event study, correlation test, and regression analysis, we find negative average abcdrmal returns(AARs) and average cumulative abcdrmal returns(CARs) for negative and neutral foreign analysts’ recommendations levels and recommendation changes in the pre-recommendation period. AARs and CARs for positive recommendations in pre-recommendation period are positive, but reverse to negative three days after the event day. Our results also show that correlation coefficients of recommendations (both in recommendation levels and recommendation changes) and holding period returns are significantly positive in the pre-recommendation period, but insignificantly negative in the post-recommendation period. In the regression analyses, we find that price momentum factor is significantly related to foreign analysts’ recommendation, but the incremental contribution of this factor to foreign analysts’ recommendations are marginal and not significant. We also find that foreign security firms respond more rigorously to stocks receiving recommendation above buy recommendations and stocks being downgraded. These results show that foreign security firms are more conservative toward trading stocks in Taiwan’s stock market. They only buy stocks above buy recommendations (in a delay pattern), but immediately sell downgraded stocks.

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We utilize the model of Llorente, Michaely, Saar and Wang (2002) to exam the dynamic volume-return relation of individual stocks in Taiwan stock market. In the LMSW (2002) model, investors trade to share risk and speculate on private information, and the show that hedging trades generate negatively autocorrelation returns, whereas speculative trades generate positively autocorrelation returns. We use daily volume and return data of stocks listed on TSEC to test the prediction of the model. Our results, which are consistent with LMSW (2002), show the cross-sectional variation in the relation between volume and return autocorrelation is related to the degree of information asymmetry. When we use some difference proxies of information asymmetry to test, the dynamic volume-return relation in Taiwan still consists with the theoretical prediction of LMSW (2002).

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Effects of short-term overtemperature on Rene 80 DS were studied using Gleeble thermo-mechanical simulation apparatus. Volume fraction of gamma prime to gamma matrix was quantified and used to assess the effects of time, temperature and stress. Volume fraction was found to decrease with increasing temperature and time. Dissolution was found to occur through both solid and liquid state dissolution. Application of tensile stress was found to influence dissolution behaviour of gamma prime. / May 2017

Title: Vessel segmentation Author: Ján Dupej Department / Institute: Department of Software and Computer Science Education Supervisor of the master thesis: RNDr. Josef Pelikán, KSVI Abstract: In this thesis we researched some of the blood vessed segmentation and visualization techniques currently available for angiography on CT data. We then designed, implemented and tested a system that allows both semi-automatic and automatic vessel segmentation and visualization. For vessel segmantation and tracking we used a region-growing algorithm that we overhauled with several heuristics and combined with centerline detection. We then automated this algorithm by automatic seed generation. The visualization part is accomplished with an adaptation of the well-known straightened CPR method that we enhanced so that it visualizes the whole cross-section of the blood vessel, instead of just one line of it. Furthermore, we used the Bishop frame to maintain minimal twist of the curve-local coordinate system along the whole vessel. Keywords: vessel segmentation, medical data analysis, volume data