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In recent year, the securities firms had suffered form the turmoil of the financial crisis in Taiwan. Although the Taiwan Stock Exchange Corporation and the Securities and Futures Commission have their own early warning systems (EWS), the EWS based on financial statements and the "capital adequacy ratio", respectively for the risks that the brokers and dealers assume, still have some defects: (1) EWS based on financial statements are static and time-lagged in the rapid-moving market, and (2) the calculation rules in the capital adequacy ratio are inelastic and inefficient. This research emphasizes on the stock positions of the dealers, and calculate the "Value at Risk" (VaR) for these positions. In this way, we hope to know whether the EWS based on VaR can detect the risks of the dealers in time, and improve the drawbacks of the EWS based on financial statements and capital adequacy ratio. We found that: (1) the EWS based on VaR can effectively reflect the market risk of the dealers, and (2) the "historical simulation" method might distort the real portfolio risk, thus we suggest that "delta-normal" is a better method, and (3) the EWS based on VaR can discriminate the risk level of different securities dealers. In conclusion, we have the suggestion of the EWS for securities firms in the future. For firm-wide operation, the EWS based on financial statements is suitable; for the credit risks the securities firms may assume, the capital adequacy ratio is better; as for the market risk of the positions, VaR, undoubtedly, is a good alternative.

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The problem of dilemma zone protection and red-light-running is especially important in certain rural intersections due to the higher speeds at these intersections and their isolated nature. In addition, the presence of a larger percentage of trucks mean that adequate warning and help need to be given to these truck drivers in order to enable them to stop safely, or proceed through the intersection before the onset of red. To curb any potential danger at such intersections, a Texas Department of Transportation (TxDOT) research project on Advanced Warning for End of Green Phase (AWEGS) at high speed intersections deployed AWEGS at two rural intersection sites ?? Tx 6 @ FM 185 near Waco and US 290 @ FM 577 in Brenham. The deployment of AWEGS involved a Level 1 and a later upgrade to a more efficient Level 2 in Waco. Initial results on red-light-running, even though promising, were expressed as observed red-light-running events per day. These resulting rates did not reflect exposure, and the results also raised some concerns with regards to some increase in red-light-running from Level 1 to Level 2. A more detailed analysis of the red-light-running issue at these two sites is provided in this thesis. The main areas of red-light-running analyses presented here are with respect to the reductions in red-light-running rates for the exposure factors of number of cycles and vehicular volumes, the comparison of day and night RLR rates and the nature of speeds of vehicles running the red light at the intersection in Waco. AWEGS was found to reduce the total red-light-running per exposure factor after its deployment. Both Level 1 and Level 2 AWEGS operations were found to reduce red-light-running by up to 60%. Generally, total red-light-running per exposure factor between Level 1 and Level 2 was found to be about the same. Level 2 had lower daytime red-light-running rates and higher nighttime rates than Level 1. Generally, day rates were found to be higher than night rates for all levels of AWEGS deployment. It is recommended that, to better understand the operational aspects of AWEGS and to improve its operations, more implementation of AWEGS and further tests be done. An automated method to collect and analyze data needs to be developed as well as a means of automatically recording video data for calibration and verification It is also recommended that Level 1 technology be implemented in areas where the Level 2 technology may be either too complex or too expensive.

The aim of this thesis is to examine performance and relationship between the US and Asian REITs indices. We find two-year (2005/3/10~2007/3/12) return of T-REITs is 15.87%, which is much lower than the return of US, Japan and Singapore. However, T-REITs has the lowest risk in selected sample countries because the lowest VaRs is found. We estimate one-day horizon holding periods VaRs and find T-REITs¡¦ performance is better than other country by the Sharpe Ratio of VaRs. The Granger causality approach indicates some lead-lag relationships between these REITs. The NAREIT EQUITY index is leading the Hong-Kong and Singapore REITs indices; Singapore REITs index is leading the J-REITs index; J-REITs index is leading the NAREIT EQUITY index. However, Causality tests show no significant lead-lag relationships between Taiwan REITs market and other REITs markets.

¡@¡@This study aims to investigate the theories and empirical performance of the futures and options margin systems currently used in the domestic and international exchange houses. The current system used in Taiwan Futures Exchange (TAIFEX) is strategy-based rather than portfolio-based or and contract risk-based. It is no longer compliant with the development of the futures market. Therefore, it is suggested that TAIFEX should employ international experiences to adopt a portfolio-based and VaR-based margin system so as to meet the need of the local trading feature that portfolios contain both stock futures and stock options. ¡@¡@This study integrates scenario simulation and the diagonal model to propose a new model, called Beta-Simulation, to calculate the margins for portfolios containing stock options, index futures, and stocks. The proposed model can not only simplify the inter-commodity spread in SPAN but also theoretically improve the drawback of TIMS of using a simple credit offset multiplier. In the empirical test, back testing is performed on the margins calculated by Beta-Simulation with historic data of portfolios with stock options, and other common margin systems are also included in the test for comparison. ¡@¡@The empirical results reveal that only SPAN and Beta-Simulation can save approximately 12%~42% margin requirements for portfolios containing stock options, but under the same protection degree, Beta-Simulation requires significantly lower margins and a simpler calculation process than SPAN. Therefore, the proposed model is a better model of calculating margins and VaR for portfolios containing stock options.

As the downward movement in the economy, many corporations still remains high expense on the debit. In order to lower the personnel expenses, technically, most corporations will directly lay off employees, or compress the working requisite, such as: unpaid leave, or deduction on the salary. After the downsize method has been conducted, there are some negative impacts on the employees (both to lay off and the remaining employee), this research will probe into the impact on the insecurity and commitment to the organization on remaining employees after the conduction of the downsizing method. According to the research result, it concluded the impacts from the downsizing method on increasing the insecurity at work, it will also affects remaining employees¡¦ trust to the company and further diminish the commitment to the organization. This research has examined the downsized corporations¡¦ remaining employees (to both general and managerial position employees) during July 2008 to February 2009 on the degree of insecurity and commitment to the organization. According to the examined result, this research has the following conclusion: 1.The downsizing method¡¦s actual impact on remaining employee¡¦s insecurity at work will be varied by the procedure, so the hypothesis is not approved. 2.The hypothesis on the remaining employees¡¦ insecurity at work has the negative impact on commitment to the organization, disapproved. 3.The hypothesis on downsizing by lay off and unpaid leave has the negative impact on commitment to the organization, approved; managerial and non-managerial position employee has the negative impact on the commitment to the organization, disapproved. 4.Insecurity from the downsizing method has a moderate effect on commitment to the organization; nevertheless, it can¡¦t approve the moderate impact on the insecurity at work from the downsizing method, so the result is insignificant.

Die CFD-Modellierung des Fasertransports wurde auf der Basis des Euler/Euler-Ansatzes untersucht. Die Nachbildung des Transportverhaltens der Partikel erfordert die korrekte Beschreibung des Impulsaustausches. Hierfür liefert die Auswertung der Sinkgeschwindigkeiten aus den Experimenten am Versuchsstand "Säule" die notwendigen Informationen. Über die Vorgabe von Partikeldichte und Partikeldurchmesser kann die Sinkgeschwindigkeit nachgebildet und der Partikeltransport adäquat modelliert werden. Beispielsimulationen einer partikelbeladenen Strömung im Versuchsstand "Ringkanal" lieferten plausible Resultate. Das Anlagerungs- bzw. Abtragungsverhalten der Partikel an Hindernissen (z. B. Wehren) wurde über die Modellierung einer vom Feststoffanteil abhängigen Viskosität simuliert. Dieser Zusammenhang wurde an die Ergebnisse der Experimente im Ringkanal angepasst. Erste Demonstrationsrechnungen zur Beschreibung des Partikeltransportes an Hindernissen ergaben plausible Resultate. In anderen Beispielen zeigte die Parametervariation einer feststoffabhängigen Viskosität jedoch einen zu geringen Einfluss auf die berechneten Ablagerungsmengen, um die experimentellen Befunde zu reproduzieren. Es wurde ein Modell des Differenzdruckaufbaus aus den Kompaktierungseigenschaften der auf dem Sieb abgelagerten Fasern entwickelt und an Experimenten justiert. Damit steht neben den in der Literatur veröffentlichten Korrelationen ein weiteres Verfahren zur Berechnung des Differenzdrucks zur Verfügung. In einer Machbarkeitsstudie wurde die Wirkung eines Siebes auf das Strömungsfeld unter Nutzung des Modellansatzes des porösen Körpers in CFX-4.4 implementiert. Das implementierte Modell liefert qualitativ plausible Resultate.

Thesis (M.S.)--Auburn University, 2008. / Abstract. Includes bibliographical references (p. 201-202).