Risk and return of U.S. water transportation stocks over time and over bull and bear market conditions

The aim of this paper is to investigate the behaviour of water transportation company stock returns in the U.S. stock exchanges from 1985 to 1994 in order to determine whether the systematic risk of this industry is different from that of the 'average' company in the market, whether it has changed over the ten year period, over bull and bear market conditions, and whether there is a firm 'size' effect in the industry. In the context of the Capital Asset Pricing Model (Capm), we find that the systematic risk of the shipping industry return is not different from that of the 'average' company. It is also found that the covariance of water transportation companies with respect to the overall stock market return did not change over the ten year period although it appears that it has changed over normal upward/downward market movements. There is also reasonable evidence that the intercept of the equation might have changed over normal upward/downward market movements. Finally, we document contradictory evidence regarding the size effect; during the period 1985-1989 we find small companies to have significantly higher returns and risk while during the period 1990-1994 medium size companies tend to have higher risk than small and large firms, which is not however compensated by higher returns.     

Gain and noise figure analysis of Er<Superscript>3+</Superscript>-doped YAG transparent ceramic microchip amplifier

The rate equations and the power evolution equations based on excited state absorption (ESA) and cooperative upconversion (CUC) of high concentration erbium-doped yttrium aluminum garnet (YAG) transparent ceramic waveguide amplifier are set up to analyze the effects of the pump power, active ion concentration and waveguide length on the amplifier gain and noise figure (NF). The numerical analysis predicts that with a pump power of 100mW, an active ion concentration of 1.0×10²⁶ ion/m³ and a waveguide length of 3 cm, a small-signal gain of 30 dB and an NF of 5 dB can be achieved in the micro-chip amplifier.     

Initiatives in Philippine Coastal Management: An Overview

Standardized and free-format questionnaires on the state of coastal management were fielded to coastal management practitioners during three workshops and a national feedback and recommendation workshop. The most commonly cited responses were identified for each of 13 political regions and overall trends were identified. Management frameworks frequently included research, community organizing, education, livelihood, resource enhancement, resource protection, regulation, and networking components. Gender issues, documentation, and infrastructure investment were rare. The most commonly perceived environmental problem was illegal/ destructive fishing and its associated overfishing and low fish catch. The most commonly cited socioeconomic problem was the inadequacy of law enforcement. The best monitored variables were usually those related to environmental management: status and change of habitats, resources, and degree of enforcement/patrolling activities. The most common nonregulatory enhancement, aside from environmental education (which is the most popular), was mangrove reforestation. In terms of regulations, the majority of the respondents have reportedly formulated an integrated coastal management plan. In practice, regulating destructive and illegal fishing practices and then the establishment of fish sanctuaries are the next most implemented. The most popular quality-of-life enhancement strategies focused on the improvement of sustainable fishing as a livelihood and on a variety of supplementary livelihoods. The most usual institutional intervention being implemented was the setting up of local community people's organizations. Major factors which may influence success or failure of coastal management and recommendations on research, community organizing and livelihood, legislation and policies, implementation and coordination, and networking are also summarized.     

Study of the helicopter blade running elevation measurement system

Helicopter blade running elevation measurement is an important measure target in helicopter blade dynamic balance experimentation. The elevation influences the helicopter＇ s security and other performance capabilities. In testing, however, it has been difficult to measure the elevation when the rotor reaches high speeds. To get a simple, fast and highly accurate measurement system, photo electricity technology was applied to measuring the blade running elevation. Discussed is the measurement principle of blade running elevation, tire design of the measurement system and analysis of the measurement precision.     

MBS(R)--欧洲制动控制系统平台

克诺尔机车车辆制动公司开发了模块化的标准制动控制系统MBS,只需较少的费用就可适应欧洲铁路运输企业的各种不同要求.制动系统必须按用户的专门要求来开发.可适配的模块化MBS系统可用于欧洲各国的跨境运输,能满足欧洲不同的安全性规定.系统具有重量轻、所需安装位置小、寿命周期费用低、机车车辆使用率高的优点.Bombardier公司、德国铁路公司、瑞士和奥地利联邦铁路已从中获益.     

Course-keeping control of underactuated hovercraft

The course-keeping control of underactuated hovercraft with two aft propellers was considered. The control of the heading error and cross-track error was accomplished by the yaw torque merely in this case. The hovercraft dynamic model is nonlinear and underactuated. At first the Controllability of course-keeping control for hovercraft was proved, then a course-keeping control law was derived that keeps hovercraft heading constant as well as minimizes the lateral movement of hovercraft. The proposed law guarantees heading error and sway error all converge to zero exponentially. Simulation tests were carried out to illustrate the effectiveness of the proposed control law. For further research, the disturbance influence would be considered in the dynamic equations.     

Special requirements for alumina ceramic of ESG electrode bowl

At present ESG (Electrostatic Suspended Gyro) is the most precise inertia element in the world. The electrode bowl, which has direct effect on the precision of ESG, is a key part to ESG. Through the analysis of the function and characteristic of the electrode bowl in hollow rotor ESG and the present situation of new material development in the world, the alumina ceramic is regarded as the best material for the electrode bowl of hollow rotor ESG. By analyzing the present situation of alumina ceramic in the world, main technique requirements have been put forward for the alumina ceramic of ESG electrode bowl which is also fit for solid rotor ESG.     

低噪声车轮的原理、试验及应用前景

通过理论分析和试验,对欧洲近几年的几种低噪声车轮的设计原理及试验效果做出了评价,对低噪声车轮在货运及高速运输中的应用前景做了分析。