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Students considering a masters in Finance Engineering or Artificial Intelligence in Finance are usually required to have an undergraduate background in science, technology, engineering, or mathematics (STEM). STEM students have a good capacity in mathematics and science, but they may not have studied financial theory. To facilitate the classroom teaching of the Capital Asset Pricing Model (CAPM) for STEM students, this paper seeks to expound on the essence of the theory starting at a two-asset framework. Adopting the concepts proposed by Merton (1972), this paper accomplishes the derivation by virtue of basic mathematical tools such as linear algebra, geometry, and statistics except for calculus. We show that the major aspects of Merton’s derivation of the CAPM for a universe of N assets may also be obtained in a two-asset world. Through the methods of this article, students will learn the in-depth theory of CAPM and its hands-on empirical tool. For example, students will realize that even if investors specify different threshold rewards, their different CAPMs will yield identical pricing for assets and portfolios.

This study examines how a firm's advertising and R&D affects the firm's β-risk and idiosyncratic risk, which are metrics of interest to both finance executives and senior management. Due to the existence of a non-normal and heteroscedasticity dataset, we use quantile regression to analyze the sample to understand the full behavior of our non-normally distributed datapoints. The evidence of this study shows that: (1) Advertising is significantly associated with lower β-risk for firms with lower, median and higher β-risk. (2) R&D significantly increases β-risk for firms with median and higher β-risk firms. (3) Advertising is significantly associated with lower idiosyncratic risk for firms with higher idiosyncratic risk. (4) R&D is significantly associated with higher idiosyncratic risk for firms with median and higher idiosyncratic risk. In summary, our evidence shows that both advertising and R&D have a stronger effect on firms with higher β- and idiosyncratic risk than on those with lower β- and idiosyncratic risk, respectively. Our findings are useful to help both management executives and investors. Firm managers can allocate limited resources more efficiently to reduce their firm risk; investors could exert their influence on firm's senior executives to make decisions that are beneficial to stock returns.

By the semipolar blue single GaN μ-LED and blended Ir(piq)2(acac) + CC-MP5 polymer thin film color converter, a high-speed white-light μ-LED-based system is built up for the applications of short-distance VLC. The characteristics and properties of both devices are analyzed to understand the requirements for transmission and illumination. By selecting the growing orient, the influence of QCSE is reduced in this GaN μ-LED. Meanwhile, possessing the low reflection characteristic, it is beneficial for signal modulation. For the polymer thin film color converter with a lifetime of 7.8 ns, low surface reflection and high conversion efficiency are thought of good properties. Color-converted cool white light has a CCT of around 7000 K and high color accuracy with a CRI of about 90. The APD-combined frequency responses of the GaN μ-LED and GaN μ-LED + polymer are measured as 750 MHz and 600 MHz, respectively. After the optimization by utilizing the adaptive SNR-flattening pre-emphasis algorithm, the transmission performance of the white-light μ-LED is significantly promoted. For NRZ-OOK encoding, a 1.4 Gbps 0.15-m free-space transmission is achieved with a rising time of 656.33 ps, a falling time of 493.32 ps, and a Q-factor of 4.75. Besides, in more advanced data formats, the performance of this white-light μ-LED can be better highlighted. For the same 0.15-m free-space VLC, a high-speed 3 Gbps broadband 8-QAM-OFDM transmission is fulfilled with an EVM of 23.9%, an average SNR of 12.5, and a BER below 3.8 × 10-3; while to the best of our knowledge, a record 3.5 Gbps BL-DMT transmission is implemented as well. This white-light μ-LED can also be integrated into large-scale arrays for multi-functional VLC applications.

This work aims at optimizing the hardware implementation of the SubBytes and inverse SubBytes operations in the advanced encryption standard (AES). To this, the composite field arithmetic (CFA) is employed to optimize all building blocks in S-box (and inverse S-box) of SubBytes (and inverse SubBytes) transformation. A joint design of S-box and inverse S-box is also proposed to further enhance the area efficiency. Specifically, the area of multiplier in the Galois composite field, GF $((2^{2})^{2})$ , is reduced. The squaring and multiplication with constant $\lambda $ in GF $((2^{2})^{2})$ are combined and optimized as well. Moreover, the multiplicative inversion in GF $((2^{2})^{2})$ is manually optimized. Furthermore, the S-box and inverse S-box are combined and optimized using the pre_processing and post_processing modules. To increase the throughput, a balanced and pipelined architecture is derived. Using the proposed architecture, a throughput of 5.79 Gbps for the S-box can be achieved on Virtex-6 XC6VLX240T and 10% better than the conventional work. According to the ASIC implementation result, the proposed design can still achieve the highest area efficiency and approximately 30% better than conventional works using TSMC 90nm process.

The Wnt/Frizzled signaling pathway participates in many inflammation-linked diseases. However, the inflammatory response mediated by the Wnt/Frizzled signaling pathway in experimental subarachnoid hemorrhage has not been thoroughly investigated. Consequently, in this study, we examined the potential role of the Wnt/Frizzled signaling pathway in early brain injury in rat models of subarachnoid hemorrhage. Simultaneously, possible neuroprotective mechanisms were also investigated. Experimental subarachnoid hemorrhage rat models were induced by injecting autologous blood into the prechiasmatic cistern. Experiment 1 was designed to examine expression of the Wnt/Frizzled signaling pathway in early brain injury induced by subarachnoid hemorrhage. In total, 42 adult rats were divided into sham (injection of equivalent volume of saline), 6-, 12-, 24-, 48-, 72-hour, and 1-week subarachnoid hemorrhage groups. Experiment 2 was designed to examine neuroprotective mechanisms of the Wnt/Frizzled signaling pathway in early brain injury induced by subarachnoid hemorrhage. Rats were treated with recombinant human Wnt1 (rhwnt1), small interfering Wnt1 (siwnt1) RNA, and monoclonal antibody of Frizzled1 (anti-Frizzled1) at 48 hours after subarachnoid hemorrhage. Expression levels of Wnt1, Frizzled1, β-catenin, peroxisome proliferator-activated receptor-γ, CD36, and active nuclear factor-κB were examined by western blot assay and immunofluorescence staining. Microglia type conversion and inflammatory cytokine levels in brain tissue were examined by immunofluorescence staining and enzyme-linked immunosorbent assay. Our results show that compared with the sham group, expression levels of Wnt1, Frizzled1, and β-catenin were low and reduced to a minimum at 48 hours, gradually returning to baseline at 1 week after subarachnoid hemorrhage. rhwnt1 treatment markedly increased Wnt1 expression and alleviated subarachnoid hemorrhage-induced early brain injury (within 72 hours), including cortical cell apoptosis, brain edema, and neurobehavioral deficits, accompanied by increasing protein levels of β-catenin, CD36, and peroxisome proliferator-activated receptor-γ and decreasing protein levels of nuclear factor-κB. Of note, rhwnt1 promoted M2-type microglia conversion and inhibited release of inflammatory cytokines (interleukin-1β, interleukin-6, and tumor necrosis factor-α). In contrast, siwnt1 RNA and anti-Frizzled1 treatment both resulted in an opposite effect. In conclusion, the Wnt/Frizzled1 signaling pathway may participate in subarachnoid hemorrhage-induced early brain injury via inhibiting the inflammatory response, including regulating microglia type conversion and decreasing inflammatory cytokine release. The study was approved by the Animal Ethics Committee of Anhui Medical University and First Affiliated Hospital of USTC, Division of Life Sciences and Medicine, University of Science and Technology of China (approval No. LLSC-20180202) in May 2017.

Sleep plays a critical role in stroke recovery. However, there are limited practices to measure sleep for individuals with stroke, thus inhibiting our ability to identify and treat poor sleep quality. Wireless, body-worn sensors offer a solution for continuous sleep monitoring. In this study, we explored the feasibility of (1) collecting overnight biophysical data from patients with subacute stroke using a simple sensor system and (2) constructing machine-learned algorithms to detect sleep stages. Ten individuals with stroke in an inpatient rehabilitation hospital wore two wireless sensors during a single night of sleep. Polysomnography served as ground truth to classify different sleep stages. A population model, trained on data from multiple patients and tested on data from a separate patient, performed poorly for this limited sample. Personal models trained on data from one patient and tested on separate data from the same patient demonstrated markedly improved performance over population models and research-grade wearable devices to detect sleep/wake. Ultimately, the heterogeneity of biophysical signals after stroke may present a challenge in building generalizable population models. Personal models offer a provisional method to capture high-resolution sleep metrics from simple wearable sensors by leveraging a single night of polysomnography data.

Animal models reveal that deafferenting forelimb injuries precipitate reorganization in both contralateral and ipsilateral somatosensory cortices. The functional significance and duration of these effects are unknown, and it is unclear whether they also occur in injured humans. We delivered cutaneous stimulation during functional magnetic resonance imaging (fMRI) to map the sensory cortical representation of the intact hand and lower face in a group of chronic, unilateral, upper extremity amputees (N = 19) and healthy matched controls (N = 29). Amputees exhibited greater activity than controls within the deafferented former sensory hand territory (S1f) during stimulation of the intact hand, but not of the lower face. Despite this cortical reorganization, amputees did not differ from controls in tactile acuity on their intact hands. S1f responses during hand stimulation were unrelated to tactile acuity, pain, prosthesis usage, or time since amputation. These effects appeared specific to the deafferented somatosensory modality, as fMRI visual mapping paradigm failed to detect any differences between groups. We conclude that S1f becomes responsive to cutaneous stimulation of the intact hand of amputees, and that this modality-specific reorganizational change persists for many years, if not indefinitely. The functional relevance of these changes, if any, remains unknown.

Supramolecular assembly for superhydrophobic coatings is known for its efficiency and efficacy. However, the mechanical fragility of the coatings limits their use as coating materials. Herein, the combination of (±)‐N,N'‐(trans‐cyclohexane‐1,2‐diyl)‐bis(perfluorooctanamide) CF7, a cyclohexyl diamide‐based low molecular weight gelator, with acrylate polymers for the generation of semi‐transparent omniphobic coatings with significantly enhanced scratch proofness is presented. CF7 has shown the ability to self‐assemble in common solvents into highly entangled fibrous networks with extreme water repellency. The incorporation of covalent polymers, specifically poly(methyl methacrylate) (PMMA) and poly(trifluoroethyl methacrylate) (PTFEMA), helps to fixate the supramolecular CF7 fibers without interfering with the self‐assembled structures. The resulting coatings, namely CF7/PMMA and CF7/PTFEMA, show significantly improved mechanical resistance as well as optical transparency while maintaining excellent water and oil repellency. Furthermore, the homogeneity of the coating in bulk is confirmed by depth profiling of the 3D distribution of the components using time‐of‐flight secondary ion mass spectrometry imaging, which turns out to be an essential technique in order to characterize such materials. [ABSTRACT FROM AUTHOR]