probability of private information based trade (pin) has introduced as information risk measure. this paper is going to estimate probability of private information based trade (pin) in tehran stock exchange using microstructure models. our results show that pin is significantly different from zero for tehran stock exchange.

information asymmetry is a negative event that gives manager incentives to use his private information to attempt transferring wealth from investors by overstating financial performance and consequently, stock prices during his tenure at the firm. the manipulations generate agency costs. conservative reporting is a mechanism that reduces the managers’ ability to manipulate and overstate financi...

I n this paper, trading symbols of the 30 largest companies listed in the Tehran Stock Exchange (TSE) were ranked based on the asymmetry information risk. Using the Ersan and Alici (2016) modified clustering algorithm (EA), we estimated the probability of informed trading (PIN) to measure the asymmetry information among traders for each trading symbol and trading day through two-year...

PIN diodes are fundamentally similar to standard diodes, but have an RF impedance that is determined by an externally supplied bias current. Their versatility makes them excellent building blocks in a wide variety of configurations within each product category, which allows diverse system requirements to be served. In short, the PIN diode enables all systems – from the least complex to the most...

Biometric user authentication is a recent topic in the area of computer security. This paper presents a machine learning approach to single modality user authentication. Here support vector machines (SVM) are employed to classify dynamic handwriting samples. The general goal of SVMs is to carry out binary classifications and/or to handle multiple class problems using a combination of different ...

One of the most active research areas in the field of radar applications is the development of collisionavoidance systems (CAS) for automotive industry. The first prototypes of HEMT-based CAS chipsets operating at 77GHz have been recently demonstrated [1]. Such chipsets will greatly benefit from the addition of a monolithic transceiver switch, which would allow using a single antenna for both t...

4. Achievements 10kV SiC MPS Rectifiers: In previous years, the center has proposed a novel SiC MPS (Merged-PiN-Schottky) Rectifier for the solidstate transformer application to improve the trade-off between on-state and turn-off switching losses [1]. This reduces energy loss and improves the efficiency of the SST. The MPS rectifiers were successfully fabricated in Year 6 [2] and demonstrated t...

We propose an Autoregressive Conditional Marked Duration (ACMD) model for the analysis of irregularly spaced transaction data. Based on the Autoregressive Conditional Duration (ACD) model, the ACMD model assigns marks to characterize events such as tick movements and trade directions (buy/sell). Applying the ACMD model to tick movements, we study the influence of trade frequency, direction and ...